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Laporan Terintegrasi
Integrated Report      2023




Navigating Profitability Through
Operational Advancements
for Sustainable Growth
Menavigasi Profitabilitas Melalui Kemajuan Operasional
untuk Pertumbuhan yang Berkelanjutan


                                                     PT Garuda Maintenance Facility Aero Asia Tbk
Page 2
2



    TEMA
    Theme




    Laporan Terintegrasi 2023 Integrated Report    PT Garuda Maintenance Facility Aero Asia Tbk
Page 3
                                                                                                                                3




Navigating Profitability Through
Operational Advancements
for Sustainable Growth
Menavigasi Profitabilitas Melalui Kemajuan Operasional
untuk Pertumbuhan yang Berkelanjutan
Sepanjang tahun, Perseroan melakukan langkah-              Throughout the year, the Company strategically
langkah    strategis  memanfaatkan       kemajuan          leveraged operational advancements to achieve
operasional untuk mencapai profitabilitas sekaligus        profitability while ensuring sustainable growth in the
memastikan pertumbuhan berkelanjutan di tengah             aviation industry's pace of recovery following the
pemulihan industri penerbangan yang melaju                 .pandemic's subsiding
.kencang setelah pandemi mereda

Dengan memprioritaskan keunggulan operasional              By prioritizing operational excellence and financial
dan stabilitas keuangan, Perseroan berhasil                stability, the Company successfully expanded its
memperluas jangkauannya di luar captive market,            capabilities beyond its captive market, diversifying
mendiversifikasi basis pelanggan, dan merambah ke          its customer base and venturing into sectors beyond
sektor-sektor selain aviasi. Diversifikasi strategis ini   aviation. This strategic diversification enabled the
memungkinkan Perseroan memanfaatkan peluang                Company to capitalize on new revenue opportunities,
pendapatan baru, memastikan kelangsungan bisnis            ensuring business continuity even amid challenges
bahkan di tengah tantangan seperti kelangkaan suku         .like parts scarcity or geopolitical tensions
.cadang atau ketegangan geopolitik

Tema tahun ini menyoroti sikap proaktif Perseroan          The theme for the year highlights the Company's
dalam menyongsong perubahan dan memenuhi                   proactive stance in embracing change and meeting
permintaan pasar. Melalui investasi pada kapabilitas       market demands. Through investments in its human
SDM, optimalisasi rantai pasokan, dan budaya               capabilities, supply chain optimization, and a culture
perbaikan    berkelanjutan,   Perseroan     mampu          of continuous improvement, the Company enhanced
meningkatkan efisiensi, mengurangi biaya, dan              efficiency, reduced costs, and delivered superior
.melayani pelanggan dengan lebih unggul                    .value to customers

Selain itu, tema tersebut juga menekankan komitmen         Moreover, the theme emphasizes the Company's
Perseroan terhadap keberlanjutan dalam jangka              commitment to long-term sustainability. By pursuing
panjang. Dengan menjalankan inisiatif pertumbuhan          growth initiatives aligned with environmental and
yang selaras dengan tanggung jawab lingkungan              social responsibility, the Company not only ensures
dan sosial, Perusahaan tidak hanya memastikan              resilience but also contributes positively to the
ketahanan tetapi juga memberikan kontribusi positif        .broader community and ecosystem
.kepada komunitas dan masyarakat yang lebih luas

Secara keseluruhan, tema ini merangkum perjalanan          Overall, the theme encapsulates the Company's
Perseroan meraih profitabilitas melalui keunggulan         journey toward profitability through operational
operasional, sekaligus mempersiapkan landasan              excellence, while setting the stage for sustained
bagi pertumbuhan berkelanjutan dan kesuksesan di           .growth and success in the future
.masa depan




PT Garuda Maintenance Facility Aero Asia Tbk                                     Laporan Terintegrasi 2023 Integrated Report
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    KESINAMBUNGAN TEMA
    Theme Continuity


                                                                                                                                                       Pada tahun 2022 berhasil mencetak laba bersih setelah sebelumnya mengalami kerugian akibat
                                                                                                                                                       pandemi.

                                                                                                                                                       Pencapaian laba bersih didorong oleh kinerja pendapatan yang meningkat seiring dengan pemulihan
                                                                                                                                                       industri airline secara keseluruhan, terutama dari Grup Afiliasi Garuda. Tentunya Perseroan juga terus
                                                                                                                                                       mengembangkan bisnis untuk berekspansi menjangkau bisnis lain yang dapat bertahan dari pandemi.
                                                                                                                                                       Salah satu milestone penting adalah ketika Perseroan dipercaya oleh Kementerian Pertahanan untuk
                                                                                                                                                       melakukan Modernisasi C130H. Seiring dengan hal tersebut, Perseroan juga dipercaya Lockheed
                                                                                                                                                       Martin untuk merawat pesawat Hercules di Indonesia sehingga meningkatkan penetrasi pasar GMF
                                                                                                                                                       di industri pertahanan nasional.

                                                                                                                                                       Strategi penetrasi pasar, memperluas jangkauan untuk meraih pasar baru yang lebih menguntungkan,
                                                                                                                                                       juga diiringi oleh upaya restrukturisasi. Tidak bisa dipungkiri bahwa GMF masih belum mencapai tingkat
                                                                                                                                                       kesehatan finansial dan operasional seperti sebelum pandemi. Dalam upayanya untuk memulihkan
                                                                                                                                                       diri saat situasi kembali positif maka upaya restrukturisasi menjadi penting untuk memberikan ruang
                                                                                                                                                       gerak yang cukup bagi Perseroan menumbuhkan usaha.

                                                                                                                                                       In 2022 the Company succeeded in generating profit after having to suffer from loss due to the pandemic.

                                                                                                                                                       This net profit was driven by our revenue after it went up following the recovery of the airline industry
                                                            2022                                                                                       as a whole, especially from the Affiliated Group of Garuda. In addition, the Company kept improving its
                                                                                                                                                       business, expanding to reach other segment that can withstand the pandemic. An important milestone
    RESTRUKTURISASI FINANSIAL DAN                                                                                                                      was when the Company was trusted by the Ministry of Defense to carry out the C130H Modernization.
    OPERASIONAL SEBAGAI UPAYA                                                                                                                          Along with this, the Company is also entrusted by Lockheed Martin to maintain Hercules aircraft in
                                                                                                                                                       Indonesia and therefore increasing GMF’s market penetration in the national defense industry.
    PEMULIHAN BERKELANJUTAN DI
    ERA YANG BARU                                                                                                                                      The market penetration, coupled with expansion to reach the new, more profitable markets, were
    FINANCIAL AND OPERATIONAL                                                                                                                          also accompanied by restructuring efforts. It is a fact that GMF has not yet reached its pre-pandemic
    RESTRUCTURING FOR SUSTAINABLE                                                                                                                      soundness level in terms of finance and operation. In its efforts to recover when the situation returns
    RECOVERY IN THE NEW ERA                                                                                                                            to positive, restructuring is important to give the Company enough space to maneuver in growing
                                                                                                                                                       its business.



                FUNGSI PENUNJANG BISNIS
                Business Support
                                          TaTa Kelola Perusahaan
                                          Good Corporate Governance
                                                                      Tanggung Jawab SoSial PeruSahaan
                                                                      Corporate Social Responsibility
                                                                                                                          Laporan KEUanGan
                                                                                                                          Financial Report         1   Tahun 2021 ekonomi global telah memasuki tahap perbaikan (recovery) yang diproyeksikan akan
                               2021
                                                                                                                                                       meningkat 5,9% pada tahun 2021 dan 4,9% pada tahun 2022. Di Indonesia, Produk Domestik Bruto
       Laporan Terintegrasi
      Integ ated Report




                                                                                                                                                       (PDB) tahun 2021 mencapai Rp16.970,8 triliun, dimana sektor transportasi & pergudangan bertumbuh
                                                                                                                                                       7,93% dan menyumbang 4,56% dari keselurunan nilai PDB. Secara khusus, di sektor angkutan udara
                                                                                                                                                       yang dijalani GMF, terjadi pertumbuhan 19,30% (y-on-y).

                                                                                                                                                       Perseroan menyadari bahwa situasi ini merupakan sebuah momentum perbaikan yang harus
                                                                                                                                                       dioptimalkan untuk memperkuat fundamental bisnis dan menstabilkan usaha. Pelajaran selama
                                                                                                                                                       mengarungi tantangan pandemi membuat GMF beradaptasi dan berbenah diri untuk menetapkan
                                                                                                                                                       strategi utama yang berpusat pada tiga pilar yaitu Cash is King, Business Diversification, dan Global
                                                                                                                                                       Consolidation. Dari sisi pendapatan, segmen perawatan Industrial Gas Turbine Engine dan industri
                                                                                                                                                       pertahanan berhasil meningkat hingga lebih dari 100% bila dibandingkan dengan tahun sebelumnya.
                                                                                                                                                       Perseroan juga berhasil menekan biaya-biaya hingga 46% dibandingkan dengan tahun sebelumnya
                                                                                                                                                       menjadi USD305 juta pada tahun 2021 sehingga hal tersebut berdampak pada peningkatan profitabilitas
                                                                                                                                                       Perseroan dibandingkan dengan tahun sebelumnya.
                                     Mengoptimalkan Momentum
                                     untuk Perbaikan Fundamental
                                                                                                                                                       In 2021, the global economy has already been recovering with projections set to increase by 5.9%
                                            dan Kestabilan                                                                                             in 2021 and 4.9% in 2022. Indonesia’s Gross Domestic Product (GDP) in 2021 reached Rp16,970.8
                                                                                                                                                       trillion, of which transportation & warehousing grew by 7.93% and contributed 4.56% of the total
                           Optimizing Momentum for Fundamental Development and Stability



            Integrated Report 2021
                                                                               PT Garuda Maintenance Facility Aero Asia Tbk
                                                                                                    PT Garuda Maintenance Facility Aero Asia Tbk
                                                                                                                                                       GDP. In particular, the air transportation which GMF engages, there was a 19.30% (y-on-y) growth.
                                                             2021
    MENGOPTIMALKAN MOMENTUM                                                                                                                            The Company is aware that this situation is a momentum that the Company needed to leverage to
    UNTUK PERBAIKAN FUNDAMENTAL                                                                                                                        strengthen business fundamentals and stabilize the business. The lessons while facing the pandemic
    DAN KESTABILAN                                                                                                                                     challenges have made GMF adapt and improved itself to establish the main strategy which centered
                                                                                                                                                       on three pillars including Cash is King, Business Diversification, and Global Consolidation. When it
    OPTIMIZING MOMENTUM FOR
                                                                                                                                                       comes to revenue, the two segments including the Industrial Gas Turbine Engine and defense industry
    FUNDAMENTAL DEVELOPMENT AND                                                                                                                        have all increased by more than 100% compared to the prior year. The Company was focusing on the
    STABILITY                                                                                                                                          established strategy and initiative and it has succeeded in lowering expenses by 46% compared to
                                                                                                                                                       USD565 million in the prior year to reach USD305 million in 2021, which resulted in higher profitability
                                                                                                                                                       compared to the prior year, which has been the Company’s focus in 2021.




    Laporan Terintegrasi 2023 Integrated Report                                                                                                                                                                    PT Garuda Maintenance Facility Aero Asia Tbk
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                                                                                                                                                                                                                                                 Pandemi COVID-19 telah memberikan dampak yang sangat signifikan terhadap perekonomian global dan
                                                                                                                                                                                                                                                 industri penerbangan. Perseroan harus menghadapi situasi yang tidak pernah diperkirakan sebelumnya
                                                                                                                                                                                                                                                 yang sangat mempengaruhi kinerja secara signifikan akibat penurunan aktivitas penerbangan. Walaupun
                                                                                                             PT Garuda Maintenance Facility Aero Asia Tbk




                                                                                                             Merangkul Realitas Baru                                                                                                             demikian, Perseroan tidak lantas patah semangat. Perseroan lebih memilih untuk beradaptasi untuk
                                                                                                             Untuk Kinerja yang Lebih Baik                                                                                                       mengembangkan bisnis pada segmen usaha maupun segmen pasar yang tidak terlalu terdampak oleh
                                                                                                             Embracing a New Reality
                                                                                                             for Better Performance
                                                                                                                                                                                                                                                 pandemi. Pasar kargo, industri pertahanan, dan Private/Business Jets menjadi sasaran Perseroan.
                                                                                                                                                                                                                                                 Selain itu, Perseroan juga terus meningkatkan volume bisnis segmen Industrial Gas Turbine Engine
                                                 Merangkul Realitas Baru untuk Kinerja yang Lebih Baik




                                                                                                                                                                                                                                                 (IGTE) secara agresif dengan penambahan kontrak pekerjaan dari sejumlah pelanggan.
Embracing a New Reality for Better Performance




                                                                                                                                                                                                                                                 Inilah cara Perseroan merangkul realitas baru untuk kinerja yang lebih baik. Catatan perjalanan di
                                                                                                                                                                                                                                                 tahun 2020 diharapkan dapat menjadi pembelajaran untuk mengembangkan bisnis saat situasi
                                                                                                                                                                                                                                                 berangsur normal. Manajemen Perseroan akan terus memperhatikan dinamika eksternal dan bersiap
                                                                                                                                                                                                                                                 diri meraih momentum pertumbuhan saat kesempatan tiba di depan mata untuk memberikan hasil
                                                                                                                                                                                                                                                 yang maksimal bagi pemegang saham dan seluruh pemangku kepentingan.

                                                                                                                                                                                                                                                 The COVID-19 pandemic has had a dire impact on the global economy and aviation industry. The
                                                                                                                                                                                                                                                 Company has to face an unprecedented situation that made the traveling activities via airplane
                          Laporan Terintegrasi Integrated Report




                                                                                                                                                                                                                                                 dropped sharply. Nevertheless, the Company refused to be discouraged. The Company choose to
                                                                                                                                                                                                    Laporan Terintegrasi
                                                                                                                                                                                                                                                 adapt and improve business on segments or target certain markets that can withstand the pandemic.
                                                                                                                                                                                                                                                 The Company is now targeting the cargo, defense industry, and Private/Business Jets. The Company
                                                                                                                                                                                                       Integrated Report
                  2020




                                                                                                                                                                                                                             2020

                                                                                                                                                                                                                                                 is also increasing the volume of its business segment on the Industrial Gas Turbine Engine (IGTE)
                                                                                                                                                                            PT Garuda Maintenance Facility Aero Asia Tbk Integrated Report   1



                                                                                                                                                            2020
                                                                                                                                                                                                                                                 aggressively by getting more contracts from various customers.
                                                                                                         MERANGKUL REALITAS BARU
                                                                                                         UNTUK KINERJA YANG LEBIH BAIK                                                                                                           This is how the Company embraces the new reality to record a better performance. Hopefully we can
                                                                                                                                                                                                                                                 treat the journey in 2020 as a precious lesson to grow the business when situation turns to normal.
                                                                                                         EMBRACING A NEW REALITY FOR
                                                                                                                                                                                                                                                 The Management will keep an eye on the situation and always ready to grasp the growth momentum
                                                                                                         BETTER PERFORMANCE                                                                                                                      whenever the opportunity arises to give the shareholders and all stakeholders maximum values.




                                                                                                                                                                                                                                                 Tantangan kondisi perekonomian dunia dan domestik memberikan imbas langsung terhadap industri
                                                                                                            2019        LAPORAN TAHUNAN
                                                                                                                        ANNUAL REPORT                                                                                                            penerbangan, baik global, regional maupun nasional. Sebagai perusahaan yang memberikan jasa
                                                                                                                                                                                                                                                 Maintenance, Repair, Overhaul (MRO), dinamika industri penerbangan praktis berpengaruh besar
                                                                                                                                                                                                                                                 terhadap kinerja GMF.

                                                                                                                                                                                                                                                 Namun, di tengah kondisi penuh tantangan tersebut, GMF justru melakukan serangkaian kebijakan
                                                                                                                                                                                                                                                 strategis untuk memperkuat layanannya; baik itu kelanjutan kemitraan strategis dengan AFI-KLM,
                                                                                                                                                                                                                                                 pengembangan ke pasar internasional khususnya untuk segmen airframe maintenance, investasi
                                                                                                                                                                                                                                                 pada teknologi yang akan memperkuat layanan MRO, serta penguatan aspek Tata Kelola Perusahaan
                                                                                                                                                                                                                                                 yang Baik. Meskipun kinerja laba tidak sebaik tahun sebelumnya, dari inisiasi strategis yang dilakukan
                                                                                                                                                                                                                                                 di sepanjang tahun 2019, GMF memperkuat fondasi untuk dapat terus melaju bagi bisnis yang
                                                                                                                                                                                                                                                 berkelanjutan di masa-masa yang akan datang.

                                                                                                                                                                                                                                                 The challenges of world and domestic economic conditions have a direct impact on the aviation industry,
                                                                                                                                                                                                                                                 both global, regional and national. As a company that provides Maintenance, Repair, Overhaul (MRO)
                                                                                                                                                                                                                                                 services, the dynamics of aviation industry greatly influenced GMF’s performance.

                                                                                                                                                                                                                                                 However, in the midst of these challenging conditions, GMF managed to carry out a series of strategic
                                                                                                                   Menjalani Tantangan dan Terus Melaju
                                                                                                               Navigating the Challenges and Moving Forward                                                                                      policies to strengthen its services; whether in the form of continuation of strategic partnership with
                                                                                                                                                             PT Garuda Maintenance Facility Aero Asia Tbk.                                       AFI-KLM, expansion into the international market especially for the airframe maintenance segment,
                                                                                                                                                                                                                                                 investment in technology that will strengthen MRO services, and strengthening of Good Corporate
                                                                                                                                                            2019                                                                                 Governance aspect. Although the profit performance was not as good as the previous year, from the
                                                                                                         MENJALANI TANTANGAN DAN                                                                                                                 strategic initiatives carried out throughout 2019, GMF was able to strengthen its foundation to be
                                                                                                         TERUS MELAJU                                                                                                                            able to continue moving forward for future business sustainability.
                                                                                                         MENJALANI TANTANGAN DAN TERUS
                                                                                                         MELAJU




                                                                                                         PT Garuda Maintenance Facility Aero Asia Tbk                                                                                                                                                         Laporan Terintegrasi 2023 Integrated Report
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    TENTANG LAPORAN
    About this Report


    Laporan ini memuat Laporan Tahunan dan Laporan Keberlanjutan       This Report describes the Annual Report and Sustainability
    (selanjutnya Laporan ini disebut juga sebagai Laporan              Report (referred to hereafter as the Integrated Report) of
    Terintegrasi) PT Garuda Maintenance Facility Aero Asia Tbk untuk   PT Garuda Maintenance Facility Aero Asia Tbk for the 2023
    periode pelaporan 2023. Perseroan menggabungkan Laporan            reporting period. Consistent with previous years, the Company
    Tahunan dan Laporan Keberlanjutan dalam 1 (satu) buku yang         consolidates the Annual Report and Sustainability Report into a
    sama seperti pada tahun-tahun sebelumnya. Pengungkapan             single book. The disclosure of the Annual Report precedes, with
    Laporan Tahunan disampaikan terlebih dahulu, namun dengan          certain sections incorporating discussions from the Sustainability
    beberapa bagian yang memuat pembahasan mengenai Laporan            Report. Following this, a separate section provides more detailed
    Keberlanjutan, sebelum kemudian pengungkapan informasi             information regarding the Sustainability Report.
    yang lebih rinci mengenai Laporan Keberlanjutan disampaikan
    pada bagian terpisah.

    Laporan Terintegrasi ini dibuat sesuai dengan Surat Edaran         This Integrated Report was prepared in accordance with the
    Otoritas Jasa Keuangan (SEOJK) No. 16/SEOJK.04/2021 tentang        Financial Services Authority (SEOJK) Circular Letter No. 16/
    Bentuk dan Isi Laporan Tahunan Emiten atau Perusahaan Publik.      SEOJK.04/2021 regarding the Form and Content of Annual
    Laporan Terintegrasi ini dapat dilihat dan diunduh di website      Reports of Issuers or Public Companies. The Integrated Report
    resmi Perseroan yaitu www.gmf-aeroasia.co.id. Sedangkan            is accessible for viewing and download on the Company’s official
    Laporan Keberlanjutan, selain dibuat sesuai dengan SEOJK           website, www.gmf-aeroasia.co.id. Additionally, the Sustainability
    No. 16/SEOJK.04/2021, juga mengadopsi pedoman penulisan            Report, while also aligned with SEOJK No. 16/SEOJK.04/2021,
    berdasarkan standar Global Reporting Index (GRI) 2021.             follows writing guidelines based on the 2021 Global Reporting
                                                                       Index (GRI) standards.

    Laporan Terintegrasi ini memuat pernyataan kondisi keuangan,       This Integrated Report contains financial conditions, operation
    hasil operasi, proyeksi, rencana, strategi, kebijakan, serta       results, projections, plans, strategies, policies, as well as
    tujuan Perseroan, yang digolongkan sebagai pernyataan ke           objectives of the Company, which are classified as forward-
    depan dalam pelaksanaan perundang-undangan yang berlaku,           looking statements in the implementation of the applicable
    kecuali hal-hal yang bersifat historis. Pernyataan-pernyataan      laws and regulations, excluding historical matters. Such
    tersebut memiliki prospek risiko, ketidakpastian, serta dapat      forward-looking statements are subject to prospective risks,
    mengakibatkan perkembangan aktual secara material berbeda          uncertainties, and other factors that can cause the actual results
    dari yang dilaporkan.                                              to differ materially from the expected results.

    Pernyataan-pernyataan prospektif dalam Laporan Terintegrasi        Prospective statements in this Integrated Report are prepared
    ini dibuat berdasarkan berbagai asumsi mengenai kondisi terkini    based on numerous assumptions concerning current conditions
    dan kondisi mendatang Perseroan serta lingkungan bisnis di         and future events of the Company, and the business environment
    mana Perseroan menjalankan kegiatan usaha. Perseroan tidak         where the Company conducts its business. The Company shall
    menjamin bahwa dokumen-dokumen yang telah dipastikan               have no obligation to guarantee that all the valid documents
    keabsahannya akan membawa hasil-hasil tertentu sesuai              presented will bring specific results as expected.
    harapan.

    Laporan Terintegrasi ini memuat kata “GMF” dan “Perseroan”         This Integrated Report contains the words “GMF” and “Company”
    yang didefinisikan sebagai PT Garuda Maintenance Facility Aero     which, hereinafter, refers to PT Garuda Maintenance Facility
    Asia Tbk yang menjalankan bisnis di bidang perawatan, reparasi,    Aero Asia Tbk as a company that runs business in the field of
    dan overhaul pesawat terbang.                                      aircraft maintenance, repair, and overhaul.




    Laporan Terintegrasi 2023 Integrated Report                                                  PT Garuda Maintenance Facility Aero Asia Tbk
Page 7
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                                                                                                                     DAFTAR ISI
                                                                                                                    Table of Contents



   2
          Tema
          Theme
                                                                           PROFIL PERUSAHAAN
                                                                           Company Profile
          Kesinambungan Tema
   4                                                                              Informasi Umum dan Identitas Perusahaan
          Theme Continuity                                                  46
                                                                                  General Information and Corporate Identity
          Tentang Laporan
   6                                                                              Skala Usaha
          About This Report                                                 47
                                                                                  Business Scale
          Daftar Isi
   7                                                                              Riwayat Singkat GMF
          Table of Contents                                                 49
                                                                                  A Brief History of GMF
          Perjalanan GMF Tahun 2023
   10                                                                             Jejak Langkah GMF
          GMF Journey In 2023                                               50
                                                                                  GMF Milestones

 IKHTISAR KINERJA                                                           51
                                                                                  Visi, Misi, dan Nilai Perusahaan
 Performance Highlight                                                            Vision, Mission, and Core Values

          Ikhtisar Data Keuangan Penting                                          Logo Perusahaan
   14                                                                       54
          Key Financial Data Highlight                                            Company Logo

          Ikhtisar Bisnis dan Operasional                                         Penghargaan dan Sertifikasi
   17                                                                       55
          Business and Operational Highlight                                      Awards and Certification

          Ikhtisar Saham                                                          Keanggotaan Asosiasi
   19                                                                       58
          Share Highlight                                                         Membership In Associations

          Ikhtisar Obligasi                                                       Bidang Usaha, Produk dan Jasa, Jaringan Usaha
   21                                                                       59
          Bond Highlight                                                          Business Field, Products and Services, Business Network

          Sumber Pendanaan Lainnya                                                Perubahan Signifikan
   21                                                                       64
          Other Funding Sources                                                   Significant Changes

          Peristiwa Penting 2023                                                  Struktur Organisasi
   22                                                                       66
          Significant Events In 2023                                              Organization Structure

                                                                                  Profil Dewan Komisaris
 LAPORAN MANAJEMEN                                                          68
                                                                                  Board of Commissioners’ Profile
 Management Report
                                                                                  Profil Direksi
                                                                            74
          Laporan Dewan Komisaris                                                 Board of Directors’ Profile
   29
          Board of Commissioners Report
                                                                                  Profil Pejabat Eksekutif
                                                                            80
          Laporan Direksi                                                         Profile of Executive Officials
   35
          Board of Directors Report
                                                                                  Demografi Pegawai
                                                                            86
          Pernyataan Dewan Komisaris dan Direksi Tentang Tanggung                 Employee Demographic
          Jawab Atas Laporan Terintegrasi 2023 PT Garuda
          Maintenance Facility Aero Asia Tbk                                      Informasi Pemegang Saham
   42                                                                       89
          Statement of the Board of Commissioners and the Board of                Information On Shareholders
          Directors On the Responsibility For the 2023 Integrated Report          Daftar Entitas Anak, Entitas Asosiasi, Joint Venture (JV), Special
          Of PT Garuda Maintenance Facility Aero Asia Tbk                         Purpose Vehicle (SPV)
                                                                            95
          Pernyataan Dewan Komisaris dan Direksi Tentang Tanggung                 List of Subsidiaries, Associates, Joint Venture (JV), Special
          Jawab Atas Laporan Terintegrasi 2023 PT Garuda                          Purpose Vehicle (SPV)
          Maintenance Facility Aero Asia Tbk                                      Kronologi Penerbitan dan Pencatatan Saham
   43                                                                       96
          Statement of the Board of Commissioners and the Board of                Chronology of Share Issuance and Listing
          Directors On the Responsibility For the 2023 Integrated Report
          Of PT Garuda Maintenance Facility Aero Asia Tbk                         Informasi Kronologi Penerbitan dan Pencatatan Efek Lainnya
                                                                            97    Chronological Information On Other Securities Issuance and
                                                                                  Listing

                                                                                  Lembaga dan Profesional Penunjang
                                                                            97
                                                                                  Supporting Agencies and Professionals

                                                                                  Kerja Sama Dengan Mitra Lain
                                                                            98
                                                                                  Cooperation With Other Partners

                                                                                  Informasi Website GMF
                                                                           102
                                                                                  GMF Website



PT Garuda Maintenance Facility Aero Asia Tbk                                                           Laporan Terintegrasi 2023 Integrated Report
Page 8
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      ANALISIS DAN PEMBAHASAN                                                 FUNGSI PENUNJANG BISNIS
                                                                              Business Support Function
      MANAJEMEN                                                                      Sumber Daya Manusia
      Management Discussion and Analysis                                      160
                                                                                     Human Capital
               Tinjauan Perekonomian dan Industri
      106                                                                            Teknologi Informasi
               Industrial and Economic Review                                 180
                                                                                     Information Technology
               Kebijakan Strategis 2023
       110
               2023 Strategic Policy                                          TATA KELOLA PERUSAHAAN
               Aspek Pemasaran                                                Corporate Governance
       112
               Marketing Aspect                                                      Komitmen Kuat Penerapan Tata Kelola Perusahaan Yang Baik
               Tinjauan Operasi Per Segmen Usaha                              186    Strong Commitment On Implementing Good Corporate
       115                                                                           Governance
               Operational Review By Business Segment

               Tinjauan Keuangan                                                     Struktur Tata Kelola Perseroan
       123                                                                     191
               Financial Review                                                      The Company’s Governance Structure

               Informasi dan Fakta Material Setelah Pelaporan Akuntan                Rapat Umum Pemegang Saham (RUPS)
                                                                              217
       143     Information and Material Facts Subsequent to the                      General Meeting Of Shareholders (GMS)
               Accountant’s Report                                                   Dewan Komisaris
                                                                              231
               Informasi Dampak Nilai Tukar Mata Uang Asing                          Board of Commissioners
       143     Information On The Impact of Foreign Currency Exchange                Direksi
               Rate                                                           244
                                                                                     Board of Directors
               Kebijakan Dividen dan Pembagiannya                                    Informasi Lainnya Tentang Dewan Komisaris dan Direksi
       144
               Dividend Policy and Disbursement                               255    Other Information About The Board of Commissioners and
               Kontribusi Kepada Negara                                              Directors
       144
               Contribution to the State                                             Sekretaris Dewan Komisaris
                                                                              282
               Realisasi Penggunaan Dana Hasil Penawaran Umum                        Secretary to the Board of Commissioners
       145
               Realization of Proceeds From Public Offering                          Komite Audit dan Kebijakan Corporate Governance
                                                                              286
               Realisasi Penggunaan Dana Hasil Penawaran Umum Obligasi               Secretary to the Board of Commissioners
       146
               Realization of Proceeds From Bond Offering                            Komite Nominasi dan Remunerasi
                                                                              296
               Informasi Material Mengenai Investasi, Ekspansi, Divestasi,           Nomination and Remuneration Committee
               Penggabungan Usaha, Akuisisi, dan/atau Restrukturisasi                Komite Pengembangan Usaha dan Pemantau Risiko
               Utang/Modal                                                    301
       147                                                                           Business Development and Risk Monitoring Committee
               Material Information Regarding Investment, Expansion,
               Divestment, Business Combination, Acquisition, and/or Debt/           Sekretaris Perusahaan & Legal
                                                                              308
               Capital Restructuring                                                 Corporate Secretary & Legal

               Informasi Transaksi Material Yang Mengandung Benturan                 Internal Audit
                                                                              314
               Kepentingan dan/atau Transaksi Dengan Pihak Afiliasi/Pihak            Internal Audit
       147     Berelasi
               Information On Material Transactions Containing Conflicts Of          Struktur dan Kedudukan Internal Audit
                                                                              315
               Interest and/or Transactions With Affiliated/Related Parties          Structure and Position of Internal Audit

               Informasi Keuangan yang Mengandung Kejadian yang Bersifat             Quality Assurance & Safety
                                                                              320
               Luar Biasa dan Jarang Terjadi                                         Quality Assurance & Safety
       151
               Financial Information That Contains Extraordinary and Rare            Financial & Management Accounting
               Events                                                         325
                                                                                     Financial & Management Accounting
               Perubahan Peraturan Perundang-Undangan yang                           Akuntan Publik
               Berpengaruh Signifikan Terhadap Perseroan                      331
       151                                                                           Public Accountant
               Changes In Law and Regulations That Had Significant Affect
               to the Company                                                        Daftar Akuntan Publik
                                                                              333
                                                                                     Public Accountant Lists
               Perubahan Kebijakan Akuntansi dan Dampaknya Terhadap
               Perseroan                                                             Tindak Lanjut Temuan KAP
       155                                                                    335
               Changes In Accounting Policies and Its Impact On the                  Follow-Up From KAP Findings
               Company
                                                                                     Manajemen Risiko
               Informasi Kelangsungan Usaha                                   336
       155                                                                           Risk Management
               Business Continuity Information
                                                                                     Sistem Pengendalian Internal
                                                                              343
                                                                                     Internal Control System

                                                                                     Perkara Penting
                                                                              346
                                                                                     Important Cases




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  347
          Akses Informasi dan Data Perusahaan
          Access To Information and Company Data
                                                                LAPORAN KEBERLANJUTAN
                                                                Sustainability Report
          Kode Etik
  350                                                                   Ikhtisar Kinerja Keberlanjutan 2023
          Code Of Conduct                                       376
                                                                        Highlights of Sustainable Performance In 2023
          Kebijakan Anti Korupsi dan Pengendalian Gratifikasi
  353                                                                   Tentang Laporan Keberlanjutan
          Anti-Corruption and Gratuities Control                378
                                                                        About This Sustainability Report
          Informasi Pemberian Dana untuk Kegiatan Politik
  354                                                                   Hubungan Dengan Pemangku Kepentingan dan Penentuan
          Information On Funding for Political Activities
                                                                379     Topik Material
          Laporan Harta Kekayaan Penyelenggara Negara (LHKPN)           Stakeholders Engagement and Materiality Analysis
  355
          State Officers’ Asset Reports (LHKPN)
                                                                        Penentuan Topik Material
                                                                382
          Whistleblowing System                                         Materiality Analysis
  359
          Whistleblowing System
                                                                        Komitmen Kebijakan dan Strategi Keberlanjutan
                                                                383
          Ruang Lingkup                                                 Policy Commitment and Sustainability Strategy
  360
          Coverage
                                                                        Menanamkan Budaya Keberlanjutan Secara Terus-Menerus
                                                                384
          Penyampaian Laporan                                           Embedding the Sustainability Culture Continously
  361
          Penyampaian Laporan
                                                                        Kendala, Tantangan, dan Peluan
                                                                385
          Transparansi Praktik Bad Governance                           Obstacles, Challenges, and Opportunitie
  363
          Transparency On Bad Governance
                                                                        Memaksimalkan Kinerja Ekonomi
                                                                386
 TANGGUNG JAWAB SOSIAL                                                  Maximizing Economic Performance

                                                                        Upaya Pelestarian Lingkungan
 PERUSAHAAN                                                     390
                                                                        Environmental Conservation Efforts
 Corporate Social Responsibility
                                                                        Menghargai dan Melindungi Pegawai
          Pengungkapan Informasi TJSL                           401
  368                                                                   Appreciation and Protection of Our Employees
          Disclosure of TJSL Information
                                                                        Tingkat Kecelakaan Kerja
          Pengelola TJSL dan Anggaran                           410
  369                                                                   Accident Rate At Work
          TJSL Manager and Budget
                                                                        Melayani Pelanggan Dengan Sepenuh Hati
          Pelaksanaan Program TJSL 2023                         413
  370                                                                   Serving Our Customers Wholeheartedly
          Implementation of TJSL Programs In 2023
                                                                        Lembar Umpan Balik
                                                                418
                                                                        Feedback Form

                                                                        DAFTAR PENGUNGKAPAN SESUAI POJK 51/2017
                                                                419
                                                                        POJK 51/2017 Disclosure Index

                                                                LAMPIRAN
                                                                Attachment




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10



     PERJALANAN GMF TAHUN 2023
     GMF Journey in 2023


     STRATEGI USAHA GMF MENGHADAPI 2023                                         GMF BUSINESS STRATEGY FACING 2023

                                                               Peningkatan Profitabilitas
                                                                 Increasing Profitability

       •   Peningkatan volume bisnis
       •   Memperbesar share of wallet customer
       •   Menambah captive customer dengan kontrak jangka panjang
       •   Increasing business volume
       •   Increasing the share of wallet of customer
       •   Adding captive customer with long-term contract

                                                                 Restrukturisasi Utang
                                                                  Debt Restructuring

       •   Kepada pemasok dan bank
       •   Terus dimonitor secara berkala untuk memastikan implementasi sesuai kesepakatan
       •   To bank and suppliers
       •   Constantly monitored to ensure the implementation according to the agreement

                                                                   Perbaikan Ekuitas
                                                                    Improving Equity

       •   Divestasi anak usaha
       •   Mengembangkan jangkauan pasar di luar Grup
       •   Divesting subsidiaries
       •   Expanding to reach other market outside the Group



     KINERJA USAHA GMF YANG KUAT PADA                                           STRONG GMF PERFORMANCE IN 2023
     TAHUN 2023

                Jumlah Pendapatan Usaha                        Laba Bersih Tahun Berjalan                 Total Aset
                 Total Operating Revenues                           Profit for the Year                   Total Assets




                           USD                                          USD                                 USD
                     373.21                                         20.17                            450.02
                                                                                                          juta | million
                         juta | million                               juta | million




                      7.42%                                          5.4%                              15.30%
                 Operating Profit Margin                           Net Profit Margin                Return on Investment




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PT Garuda Maintenance Facility Aero Asia Tbk   Laporan Terintegrasi 2023 Integrated Report
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12                                                                              Ikhtisar Kinerja
                                                                           Performance Higlight




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                                                01




                                                     IKHTISAR
                                                      KINERJA
                                                 Performance Highlight
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14                                                                                                                                               Ikhtisar Kinerja
                                                                                                                                            Performance Higlight




     IKHTISAR DATA KEUANGAN PENTING [B.1]
     Key Financial Data Highlight [B.1]


                                                          Laba (Rugi) dan Penghasilan Komprehensif Lain
                                                            Profit (Loss) and Other Comprehensive Income

       Dalam Dolar Amerika Serikat
       In United States Dollars

                                                                                                                                      YoY            CAGR
                 Keterangan
                                                 2023               2022             2021            2020             2019         2022-2023       2019-2023
                 Description
                                                                                                                                      (%)             (%)

       Pendapatan Usaha
       Operating Revenue

       Repair and Overhaul                     288,311,230        174,804,710     145,699,465        175,151,445    417,202,931           64.93           (8.82)

       Perawatan                               65,275,499         44,128,043         47,814,211      52,615,745      88,468,210           47.92           (7.32)
       Line Maintenance

       Operasi Lain-Lain                       19,620,255           19,771,140      17,079,639      26,074,245        13,813,344          (0.76)            9.17
       Other Operations

       Jumlah Pendapatan Usaha                373,206,984        238,703,893       210,593,315     253,841,435      519,484,485           56.35           (7.94)
       Total Operating Revenues

       Beban Usaha                          (345,505,584)        (213,836,674)   (305,088,245)     (565,181,957)   (554,228,422)           61.57          (11.14)
       Operating Expenses

       Laba Usaha                               27,701,400         24,867,219     (94,494,930)    (311,340,522)     (34,743,937)           11.40            N/A
       Operating Income

       Pendapatan/Beban Lainnya                 (7.971.376)       (19,363,914)     (17,148,369)    (31,420,850)     (18,436,631)         (58.83)          (18.91)
       Other Income/Expenses

       Laba Sebelum Pajak Penghasilan          19,730,024          5,503,305      (111,643,299)    (342,761,372)   (53,180,568)          258.51             N/A
       Profit Before Income Tax

       Beban Pajak                                   438,665       (1,874,974)    (15,708,504)      14,000,568        (833,235)         (123.40)            N/A
       Tax Expenses

       (Rugi)/Laba Bersih Tahun                20,168,689           3,628,331     (127,351,803)   (328,760,804)    (54,013,803)          455.87             N/A
       Berjalan
       (Loss)/Profit for the Year

       Pendapatan Komprehensif Lain              (235,166)          3,718,622        3,022,876        2,853,435        1,320,414        -106.32             N/A
       Other Comprehensive Income

       Jumlah (Rugi)/Penghasilan                19,933,523          7,346,953     (124,328,927)   (325,907,369)    (52,693,389)           171.32            N/A
       Komprehensif Tahun Berjalan
       Total Comprehensive (Loss)/
       Income for the Year

       Laba Tahun Berjalan yang Dapat Diatribusikan Kepada:
       Profit for the Year Attributable to:

       Pemilik Entitas Induk                   20,276,463           3,571,764    (127,396,390)    (328,789,058)     (54,211,273)         467.69             N/A
       Owner of Parent Entity

       Kepentingan Non-Pengendali                    (107,774)        56,567            44,587           28,254         197,470        (290.52)             N/A
       Non-Controlling Interests

       Jumlah (Rugi)/Penghasilan Komprehensif Tahun Berjalan yang Dapat Diatribusikan Kepada:
       Total Comprehensive (Loss)/Income for the Year Attributable to:

       Pemilik Entitas Induk                    20,041,297         7,290,386      (124,373,514)   (325,935,623)    (52,890,859)          174.90             N/A
       Owner of Parent Entity




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                                                    Laba (Rugi) dan Penghasilan Komprehensif Lain
                                                      Profit (Loss) and Other Comprehensive Income

 Dalam Dolar Amerika Serikat
 In United States Dollars

                                                                                                                                        YoY         CAGR
           Keterangan
                                          2023                2022               2021               2020              2019           2022-2023    2019-2023
           Description
                                                                                                                                        (%)          (%)

 Kepentingan Non-Pengendali                 (107,774)             56,567             44,587            28,254             197,470       -290.52           N/A
 Non-Controlling Interests

 (Rugi)/Laba Bersih per Saham                   0.0007          0.0001            (0.0045)         (0.012000)      (0.002000)              600            N/A
 Dasar/Dilusian
 Basic/Diluted (Loss)/ Earnings
 per Share




                                                       Laporan Posisi Keuangan Konsolidasian
                                                      Consolidated Statements of Financial Position
 Dalam Dolar Amerika Serikat
 In United States Dollars

                                                                                                                                       YoY          CAGR
        Keterangan
                                     2023                  2022               2021              2020               2019             2022-2023     2019-2023
        Description
                                                                                                                                       (%)           (%)

 Aset Lancar                        246,615,548          200,965,297       209,985,094         294,271,426      560,155,584               22.7           -18.5
 Current Assets

 Aset Tidak Lancar                 203,405,555            189,693,413       187,430,879       226,583,662        196,234,874               7.2             0.9
 Non-Current Assets

 Total Aset                         450,021,103          390,658,710        397,415,973       520,855,088       756,390,458               15.2           -12.2
 Total Assets

 Liabilitas Jangka Pendek           279,717,345          248,830,982       321,064,848         465,274,117      593,462,493               12.4            -17.1
 Current Liabilities

 Liabilitas Jangka Panjang         481,465,660           472,849,048        414,710,336        269,611,255       35,697,256                1.8            91.6
 Non-Current Liabilities

 Total Liabilitas                   761,183,005          721,680,030        735,775,184       734,885,372        629,159,749               5.5             4.9
 Total Liabilities

 Total Ekuitas                      (311,161,902)     (331,021,320)        (338,359,211)   (214,030,284)         127,230,709               6.0            n.m
 Total Equity

 Total Liabilitas dan Ekuitas       450,021,103          390,658,710        397,415,973       520,855,088       756,390,458               15.2           -12.2
 Total Liabilities and Equity

 Modal Kerja Bersih                 (33,101,797)         (47,865,685)      (111,079,754)      (171,002,691)     (33,306,909)              30.8            -0.2
 Net Working Capital




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16                                                                                                                              Ikhtisar Kinerja
                                                                                                                           Performance Higlight




                                                                Rasio Keuangan
                                                                 Financial Ratio
       Dalam Persentase
       In Percentage

                                                                                                                                      CAGR
                          Keterangan                                                                                 YoY              2019-
                                                     2023         2022       2021         2020       2019
                          Description                                                                            2022-2023 (%)        2023
                                                                                                                                       (%)

       Rasio Likuiditas (%)
       Liquidity Ratio (%)

       Cash Ratio                                        7.53        2.05          4.29       1.95      4.84                 2.67          11.7

       Acid Test Ratio                                 61.70        58.05      46.70        44.32       69.8                0.06          (3.4)

       Current Ratio                                    88.17       80.76      65.40        63.25      94.39                0.09        (0.09)

       Rasio Profitabilitas (%)
       Profitability Ratio (%)

       Operating Profit Margin/OPM                       7.42       10.42     (44.87)     (122.65)     (6.69)              (0.29)          n.m

       Net Profit Margin/NPM                            5.40          1.52    (60.47)     (129.51)     (10.4)                2.55          n.m

       Return on Investment/ROI                        15.30        13.02     (16.50)      (55.48)      (2.11)               0.18          n.m

       Rasio Solvabilitas (%)
       Solvency Ratio (%)

       Debt to Assets Ratio/DAR                        169.14       184.73     185.14       141.09     83.18               -0.08           19.4

       Debt to Equity Ratio/DER                      (244.63)     (218.02)    (217.45)    (343.36)     494.5                 0.12          n.m

       Rasio Aktivitas
       Activity Ratio

       Average Collection Period/ACP (hari | days)     45.06        66.66      128.97      140.09      133.71              (0.32)        (23.8)




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                                                             IKHTISAR BISNIS DAN OPERASIONAL
                                                                                              Business and Operational Highlight


 Dalam Dolar Amerika Serikat
 In United States Dollars

                                                                                                                                      YoY              CAGR
         Keterangan
                                       2023                  2022           2021            2020             2019                  2022-2023         2019-2023
         Description
                                                                                                                                      (%)               (%)

 Line Maintenance                      65,275,499          44,128,043        47,814,211     52,615,745      88,468,210                   47.92               (7.32)

 Repair and Overhaul                  288,311,230          174,804,710    145,699,465      175,151,445     417,202,931                   64.93               (8.82)

 Other Operations                      19,620,255            19,771,140     17,079,639     26,074,246        13,813,344                  (0.76)                9.17

 Jumlah Pendapatan
 Usaha                               373,206,984      238,703,893         210,593,315     253,841,435     519,484,485                   56.35                (7.94)
 Total Operating Revenues


                          Jumlah Pendapatan Usaha                                                   (Rugi)/Laba Bersih Tahun Berjalan
                           Total Operating Revenues                                                       (Loss)/Profit for the Year
                              (USD juta | million)                                                          (USD juta | million)


                 519,48     253,84      210,59      238,70       373,21                         (54,01)   (328,76)      (127,35)      3,63        20,17




                 2019      2020         2021        2022        2023                            2019      2020          2021         2022         2023

                                  Total Aset                                                                   Total Ekuitas
                                 Total Assets                                                                   Total Equity
                              (USD juta | million)                                                           (USD juta | million)


                   756        521        397         391          450                           127,23    (214,03)      (338,36)     (331,02)     (311,16)




                 2019      2020         2021        2022        2023                            2019      2020          2021         2022         2023




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18                                                                                                                                                      Ikhtisar Kinerja
                                                                                                                                                   Performance Higlight




                                 Net Profit Margin/NPM                                                          Return on Investment/ROI
                                           (%)                                                                             (%)


                       (10,40)    (129,51)   (60,47)   1,52           5.40                             (2,11)     (55,48)      (16,50)     13,02        15




                       2019       2020       2021      2022           2023                             2019      2020           2021      2022        2023

                                     Line Maintenance                                                              Repair and Overhaul
                                     (USD juta | million)                                                           (USD juta | million)


                        88,47      52,62      47,81    44,13          65,28                            417,20     175,15        145,70    174,80      288,31




                       2019       2020       2021      2022           2023                             2019      2020           2021      2022        2023

                                                                              Other Operations
                                                                              (USD juta | million)


                                                              13,81          26,07    17,08    19,77    19,62




                                                            2019         2020        2021     2022     2023




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                                                                                                       IKHTISAR SAHAM
                                                                                                                            Share Highlight


                                                         Informasi Pergerakan Saham GMF
                                                       Information on GMF’s Shares Movement
                                                Harga Saham                                                   Jumlah Saham
                                                                                            Volume                                   Kapitalisasi
                                                 Share Price                                                 Beredar (lembar
                                                                                         Perdagangan                               Pasar (Rp miliar)
                                                    (Rp)                                                         saham)
        2023                                                                           (lembar saham)                                   Market
                                                                                                                Number of
                            Tertinggi             Terendah           Penutupan          Trading Volume                              Capitalization
                                                                                                               Outstanding
                             Highest               Lowest              Closing              (Shares)                                  (Rp billion)
                                                                                                                 Shares

 Triwulan 1                             73                    50                 53          267,558,900         16,398,563,500    1,496,376,109,500
 Quarter 1

 Triwulan 2                             70                    50                 54          253,746,500         14,340,389,200    1,524,609,621,000
 Quarter 2

 Triwulan 3                             102                   54                 80          782,319,300         57,774,371,000    2,258,680,920,000
 Quarter 3

 Triwulan 4                             87                    70                 80          203,692,500          18,114,541,100   2,258,680,920,000
 Quarter 4



                                                Harga Saham                                                   Jumlah Saham
                                                                                            Volume                                   Kapitalisasi
                                                 Share Price                                                 Beredar (lembar
                                                                                         Perdagangan                               Pasar (Rp miliar)
                                                    (Rp)                                                         saham)
        2022                                                                           (lembar saham)                                  Market
                                                                                                                Number of
                            Tertinggi             Terendah           Penutupan          Trading Volume                              Capitalization
                                                                                                               Outstanding
                             Highest               Lowest              Closing              (Shares)                                 (Rp billion)
                                                                                                                 Shares

 Triwulan 1                             75                    69                 70           92,796,800         28,233,511,500    1,976,345,805,000
 Quarter 1

 Triwulan 2                              71                   70                 82           151,407,800        28,233,511,500    2,315,147,943,000
 Quarter 2

 Triwulan 3                             78                    76                 74          124,545,800         28,233,511,500    2,089,279,851,000
 Quarter 3

 Triwulan 4                             78                    76                 66           172,746,100        28,233,511,500    1,863,411,759,000
 Quarter 4


                                    Harga Penutupan dan Volume Perdagangan Saham GMF 2022-2023
                                         Closing Price and Trading Volume of GMF Shares 2022-2023
                                      70        82       74        66     53          54        80          80
                               90                                                                                900000000

                               80                                                                                800000000

                               70                                                                                700000000

                               60                                                                                600000000

                               50                                                                                500000000

                               40                                                                                400000000

                               30                                                                                300000000

                               20                                                                                200000000

                               10                                                                                100000000

                                0                                                                                0
                                      Q1         Q2      Q3         Q4     Q1          Q2       Q3        Q4
                                     2022       2022    2022       2022   2023        2023     2023      2023




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20                                                                                                                          Ikhtisar Kinerja
                                                                                                                       Performance Higlight




     AKSI KORPORASI                                                    CORPORATE ACTION

     Sepanjang tahun 2023, tidak terdapat aksi korporasi yang          Throughout 2023, there were no corporate actions that caused
     menyebabkan perubahan material terhadap saham Perseroan           material changes to the Company’s shares listed on the Indonesia
     yang tercatat di Bursa Saham Indonesia (BEI). Tindakan tersebut   Stock Exchange (IDX). These actions include stock splits, reverse
     antara lain pemecahan saham (stock split), penggabungan           stock, share dividends, bonus shares, changes in the nominal
     saham (reverse stock), dividen saham, saham bonus, perubahan      value of shares, issuance of convertible securities, as well as
     nilai nominal saham, penerbitan surat berharga yang dapat         additions and reductions in capital.
     dikonversi, serta penambahan dan pengurangan modal.

     DIVIDEN KAS                                                       CASH DIVIDENDS

     Perseroan tidak memberikan dividen pada RUPS Tahunan Tahun        The Company did not distribute any dividend for the 2023
     Buku 2022 yang diselenggarakan pada tahun 2023.                   financial year.

     PENGHENTIAN SAHAM                                                 SHARE SUSPENSION

     Sepanjang tahun 2023, saham GMF tidak pernah menerima             Throughout 2023, GMF shares did not receive any sanctions
     sanksi (sanction) ataupun mengalami penghentian sementara         affecting share trading activities in the form of suspension on
     (suspension) yang mempengaruhi aktivitas perdagangan saham        the IDX. Additionally, the Company did not conduct any delisting
     Perseroan di BEI. Perseroan juga tidak melakukan penghapusan      of shares on the IDX.
     pencatatan saham (delisting) di BEI.




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                                                                                    IKHTISAR OBLIGASI
                                                                                                             Bond Highlight




Hingga akhir tahun 2023, GMF tidak menerbitkan obligasi, sukuk,   Until the end of 2023, GMF had never issued bonds, sharia
atau obligasi konversi di bursa efek mana pun. GMF juga tidak     bonds (sukuk) or convertible bonds on any stock exchange.
menerbitkan surat utang dalam bentuk lainnya yang bersifat        GMF also did not issue other securities in any form that are
direct placement.                                                 direct placement.




                                                          SUMBER PENDANAAN LAINNYA
                                                                                               Other Funding Sources


Hingga akhir tahun 2023, GMF tidak memiliki tambahan              Until the end of 2023, GMF did not have any additional sources of
pendanaan dari sumber lain dan oleh karena itu, tidak ada         funding from other sources and therefore, there is no information
informasi yang dapat untuk diungkapkan dalam Laporan              available for disclosure in this Integrated Report.
Terintegrasi ini.




PT Garuda Maintenance Facility Aero Asia Tbk                                                 Laporan Terintegrasi 2023 Integrated Report
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22                                                                                                          Ikhtisar Kinerja
                                                                                                       Performance Higlight




     PERISTIWA PENTING 2023
     Significant Events in 2023




                                 Partisipasi GMF dalam Hannover               GMF meraih penghargaan sebagai
                April            Messe 2023.                                  Indonesia Green Sustainable
                April            GMF’s participation at the Hannover   Mei    Companies Award 2023.
                                 Messe 2023.                           May    GMF obtained an award of Indonesia
                                                                              Green Sustainable Companies Award.




                                 GMF berpartisipasi dalam MRO                 GMF meraih penghargaan The Most
                 Mei             Australasia 2023.                            Promising Company in Tactical
                                                                       Juni
                 May             GMF participated at the 2023 MRO             Marketing di BUMN Entrepreneurial
                                 Australasia.                          June   Marketing Awards.
                                                                              GMF was rewarded as The Most
                                                                              Promising Company in Tactical
                                                                              Marketing during the BUMN
                                                                              Entrepreneurial Marketing Awards.




                                 GMF menerima kunjungan Direktur              GMF menerima kunjungan Menteri
             Agustus             Korean Airlines.                      Juli   Perhubungan RI.
             August              GMF welcomes the visit from Korean    July   GMF welcomes the visit from
                                 Airlines Director.                           Indonesia;s Transportation Ministry.



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                                                                                                                             23




                         GMF melakukan Pengujian Statis                   GMF berpartisipasi dalam MRO Asia
          Juli           Bioavtur J2.4.                       September   Pacific 2023.
          July           GMF conducted a Static Testing on    September   GMF participated at the 2023 MRO
                         Bioavtur J2.4.                                   Asia Pacific.




                         GMF melakukan penandatanganan                    GMF melakukan penandatanganan
                         nota kesepahaman bersama dengan                  nota kesepahaman bersama dengan
    September                                                 September
                         Thales.                                          Sovico Group.
    September            GMF signed a memorandum of           September   GMF signed a memorandum of
                         understanding with Thales.                       understanding with Sovico Group.




                         GMF menerima kunjungan Kedubes                   Partisipasi GMF pada Penerbangan
       Oktober           Kanada.
                                                               Oktober    Komersial Perdana Menggunakan
       October           GMF welcomes the visit from Canada
                                                               October
                                                                          BioAvtur J2.4.
                         Embassy.                                         GMF participated in the First Commercial
                                                                          Flight Using BioAvtur J2.4.



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24                                                                                                                             Ikhtisar Kinerja
                                                                                                                          Performance Higlight




                                 Perpanjangan kerja sama GMF dengan                           GMF berkontribusi pada proyek
                                 Airbus mengenai Maintenance                                  fabrikasi dan instalasi stiker pada
             Oktober             Training Services.                             Oktober       badan kereta Whoosh.
             October             Extension of cooperation agreement             October       GMF contributed on the fabrication
                                 GMF with Airbus regarding                                    and installation of sticker on the
                                 Maintenance Training Services.                               exterior of Whoosh train.




                                 GMF meraih penghargaan The Most                              GMF meraih penghargaan The Most
                                 Anticipated Activity High Engagement                         Promising Company in Tactical
                                 di Keterbukaan Informasi Digital 5.0                         Marketing di BUMN Entrepreneurial
                                 KIP BUMN Awards 2023.                                        Marketing Awards 2023.
             Oktober             GMF obtained an award of The Most             Desember       GMF obtained an award of the Most
             October             Anticipated Activity High Engagement          December       Promising Company in Tactical
                                 during the 5.0 Digital Information                           Marketing during the BUMN
                                 Openness of KIP BUMN Awards 2023.                            Entrepreneurial Marketing Awards
                                                                                              2023.




                                                     Desember    GMF menerima dari kunjungan
                                                                 Kedubes Fiji.
                                                     December    GMF welcomes the visit from Fiji
                                                                 Embassy.



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PT Garuda Maintenance Facility Aero Asia Tbk   Laporan Terintegrasi 2023 Integrated Report
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26                                                                        Laporan Manajemen
                                                                           Management Report




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                                                02




                                                  LAPORAN
                                                MANAJEMEN
                                                     Management Report
PT Garuda Maintenance Facility Aero Asia Tbk          Laporan Terintegrasi 2023 Integrated Report
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28                                                                                  Laporan Manajemen
                                                                                     Management Report




     DHARMADI
     KOMISARIS UTAMA/KOMISARIS INDEPENDEN
     PRESIDENT COMMISSIONER/INDEPENDENT COMMISSIONER




                                                         Dewan Komisaris menilai bahwa
                                                        Direksi telah bekerja dengan baik
                                                           dalam merealisasikan strategi
                                                       untuk meningkatkan profitabilitas,
                                                        melakukan restrukturisasi utang,
                                                          dan perbaikan ekuitas sehingga
                                                       membantu memastikan Perseroan
                                                            mencapai kinerja positif pada
                                                                              tahun 2023.
                                                            The Board of Commissioners agreed
                                                                 that the Board of Directors has
                                                                 executed the best strategies to
                                                               enhance profitability, restructure
                                                             debt, and improve equity to ensure
                                                               the Company achieved a positive
                                                                           performance in 2023.




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                                                                                                                                           29



                                                              LAPORAN DEWAN KOMISARIS
                                                                                  Board of Commissioners Report

PEMEGANG SAHAM DAN PEMANGKU                                       TO OUR ESTEEMED SHAREHOLDERS AND
KEPENTINGAN YANG TERHORMAT,                                       STAKEHOLDERS,

Pada tahun 2023, Perseroan mampu meningkatkan kinerja             In 2023, the Company managed to enhance its business
usaha dengan pencapaian yang sangat baik, memanfaatkan            performance with remarkable achievements, capitalizing on
momentum pertumbuhan ekonomi dan pulihnya kondisi industri        the momentum of economic growth and recovery in the aviation
aviasi. Sebagai Dewan Komisaris, kami sangat mengapresiasi        industry. As the Board of Commissioners, we wholeheartedly
keberhasilan Perseroan dalam meningkatkan pendapatan dan          appreciate the Company’s success in enhancing revenue and
laba untuk memastikan keberlanjutan usaha di masa positif         profits, ensuring business sustainability in times filled with
yang dipenuhi peluang pertumbuhan industri.                       opportunities for industrial growth.

KONDISI PEREKONOMIAN DAN INDUSTRI                                 ECONOMIC AND INDUSTRIAL CONDITIONS
TERHADAP KINERJA PERSEROAN                                        IMPACTING COMPANY PERFORMANCE
Pada tahun 2023, pertumbuhan ekonomi Indonesia mencapai           In 2023, Indonesia’s economic growth reached 5.05%, according
angka 5,05% menurut Badan Pusat Statistik (BPS). Ke depannya,     to the Central Statistics Agency (BPS). Moving forward, the
perekonomian Indonesia diproyeksikan akan stabil untuk            Indonesian economy is forecasted to stabilize and maintain a
bertumbuh di angka 5% hingga tahun 2028, masih di atas dari       5% growth rate until 2028, surpassing Asean-5 and world GDP
GDP Asean-5 dan dunia. Kondisi ini menunjukkan stabilitas         figures. This scenario highlights the stability of the Indonesian
perekonomian Indonesia yang mampu untuk tetap tumbuh              economy, capable of sustaining high growth rates, thereby
tinggi sehingga memberikan peluang bagi industri untuk terus      providing ample opportunities for industry growth, particularly
tumbuh, khususnya di sektor aviasi.                               in the aviation sector.

Sejalan dengan pertumbuhan ekonomi, total MRO Demand              In alignment with economic growth, the total global MRO
global juga menunjukkan tren yang positif. Berdasarkan data       Demand also exhibits a positive trajectory. According to data
Global Fleet and MRO Market Forecast Oliver Wyman, pasar          from Oliver Wyman’s Global Fleet and MRO Market Forecast,
MRO secara global diperkirakan tumbuh sebesar 19% dari 78.6       the global MRO market is expected to expand by 19%, from 78.6
BUSD pada tahun 2022 menjadi 93.8 BUSD pada tahun 2023.           BUSD in 2022 to 93.8 BUSD in 2023. The Asia Pacific region
Asia Pacific masuk dalam tiga area dengan nilai pasar terbesar,   ranks among the top three areas with the highest market value,
dengan pertumbuhan pasar sebesar 43% dari 12.7 BUSD pada          experiencing a market growth of 43%, from 12.7 BUSD in 2022
tahun 2022 menjadi 18.2 BUSD di tahun 2023.                       to 18.2 BUSD in 2023.

Secara garis besar, situasi pada tahun 2023 sangatlah             Overall, the conditions in 2023 are highly conducive for the
mendukung Perseroan untuk dapat meningkatkan kinerjanya.          Company to enhance its performance. With economic growth
Ekonomi bertumbuh, begitu juga dengan industri aviasi saat        and a resurgence in the aviation industry, driven by increased
permintaan penumpang untuk melakukan perjalanan udara             passenger demand for air travel, the MRO industry is expected
kembali tinggi, sehingga memastikan kinerja positif industri      to perform positively, catering to the increasing demand for
MRO untuk mendukung peningkatan permintaan perawatan              maintenance of airline aircraft fleets.
armada pesawat maskapai penerbangan.

PENILAIAN KINERJA DIREKSI DALAM                                   ASSESSMENT OF THE BOARD OF DIRECTORS
MENGELOLA PERSEROAN                                               PERFORMANCE IN MANAGING THE COMPANY
Dewan Komisaris melakukan penilaian terhadap kinerja              The Board of Commissioners assessed the performance of
Direksi terutama yang berkaitan dengan aspek operasional          the Board of Directors, particularly focusing on operational
dan keuangan. Penilaian kinerja Direksi dilakukan berdasarkan     and financial aspects. The Board of Directors was assessed
target yang telah ditetapkan dalam Rencana Kerja dan Anggaran     based on the targets set out in the 2023 Company Work Plan
Perusahaan (RKAP) 2023. Kami memiliki fokus utama untuk           and Budget (RKAP). Our primary focus is on ensuring that the
memastikan agar pengelolaan Perseroan oleh Direksi berjalan       Company’s management by the Board of Directors proceeds
sesuai rencana, terutama untuk memastikan keberlangsungan         according to plan, especially to guarantee business continuity
usaha sehingga dapat memberikan hasil yang maksimal bagi          and deliver optimal results for shareholders. We maintain close
para pemegang saham. Kami senantiasa melakukan komunikasi         communication with the Board of Directors and Management,
yang intensif dengan Direksi dan Manajemen, terutama dalam        particularly in formulating the Company’s strategic policies to
merumuskan kebijakan strategis Perseroan meraih peluang           capitalize on business opportunities driven by the recovery of
usaha yang didorong oleh pemulihan industri aviasi.               the aviation industry.



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30                                                                                                                      Laporan Manajemen
                                                                                                                         Management Report




     Dewan Komisaris memandang bahwa Direksi, beserta                   The Board of Commissioners acknowledges that the Board of
     Manajemen, telah mengelola Perseroan dengan baik. Hal              Directors, together with Management, has effectively managed
     tersebut dapat diukur berdasarkan Rencana Kerja dan Anggaran       the Company. This assessment is based on the Company’s Work
     Perusahaan (RKAP) dan Key Performance Indicator (KPI) tahun        Plan and Budget (RKAP) and Key Performance Indicators (KPIs) for
     2023. Direksi telah bekerja dengan cermat dalam mengelola          2023. The Board of Directors has diligently overseen operations
     operasional memanfaatkan situasi ekonomi dan industri yang         to leverage the favorable economic and industrial conditions.
     positif. Kepiawaian Direksi dalam merealisasikan strategi untuk    Their expertise in executing strategies to enhance profitability,
     meningkatkan profitabilitas, melakukan restrukturisasi utang,      restructure debt, and improve equity has significantly contributed
     dan perbaikan ekuitas sangat membantu dalam memastikan             to ensuring the Company’s positive performance in 2023. The
     Perseroan mencapai kinerja positif pada tahun 2023. Realisasi      realized net profit in 2023 amounted to USD20,168,689 million,
     laba bersih tahun 2023 adalah sebesar USD20,168,689 juta           which is equivalent to 134.23% of the target. Compared to the
     atau 134.23% dari target. Bila dibandingkan tahun sebelumnya,      previous year, profit achievement in 2023 has witnessed a
     pencapaian laba tahun 2023 meningkat signifikan 455,87%.           significant increase of 455.87%.

     PENGAWASAN TERHADAP IMPLEMENTASI                                   SUPERVISION OF THE IMPLEMENTATION OF
     STRATEGI PERSEROAN                                                 COMPANY STRATEGY
     Sebagai bentuk pertanggungjawaban kepada pemegang saham,           As a means of being accountable to shareholders, the Board
     Dewan Komisaris telah mengawasi strategi dan keputusan yang        of Commissioners has overseen the strategies and decisions
     diambil oleh Direksi pada sepanjang tahun 2023.                    made by the Board of Directors throughout 2023.

     Pada tahun 2023, kami telah mengadakan 12 kali rapat               In 2023, we held 12 joint meetings with the Board of Directors.
     gabungan dengan Direksi. Kami juga berkomunikasi dengan            Additionally, we communicated with the Board of Directors
     Direksi melalui surat rekomendasi yang telah terdokumentasikan     through well-documented letters of recommendation. Various
     dengan baik. Berbagai telah dibahas dalam rapat gabungan           topics were discussed during these joint meetings and through
     dengan juga surat rekomendasi, beberapa di antaranya adalah        letters of recommendation, covering among others, periodic
     seputar laporan kinerja berkala dan penerapan regulasi baru yang   performance reports and the implementation of new regulations
     berlaku bagi Perseroan. Sepanjang tahun 2023, Dewan Komisaris      applicable to the Company. Throughout 2023, the Board of
     juga memberikan sejumlah persetujuan untuk berbagai hal            Commissioners also provided approvals for various matters
     yang diperlukan terkait Perseroan, seperti persetujuan RKAP,       concerning the Company, such as the approval of RKAP, the
     penunjukkan KAP, perubahan organisasi, restrukturisasi utang,      appointment of KAP, organizational changes, debt restructuring,
     serta audit internal.                                              and internal audits.

     Dewan Komisaris memberikan apresiasi kepada Direksi                The Board of Commissioners apprecites the Board of Directors
     atas komunikasi intensif dan keterbukaan dalam mengelola           for the intensive communication and openness in managing
     Perseroan. Ini merupakan wujud nyata dari komitmen Dewan           the Company. This demonstrates the commitment of both the
     Komisaris dan Direksi untuk dapat menjaga keberlangsungan          Board of Commissioners and Directors to maintaining business
     usaha dan memastikan pertumbuhan bisnis Perseroan.                 continuity and ensuring the Company’s business growth.

     PENERAPAN TATA KELOLA PERUSAHAAN                                   IMPLEMENTATION OF CORPORATE GOVERNANCE
     Kami terus menjalankan fungsi Dewan Komisaris dalam                We continue to fulfill the function of the Board of Commissioners
     mengawasi jalannya penerapan prinsip-prinsip Tata Kelola           by supervising the implementation of Good Corporate Governance
     Perusahaan yang Baik atau Good Corporate Governance (GCG)          (GCG) principles at GMF. We believe that the synergy established
     di GMF. Kami memandang bahwa sinergi yang telah terbangun          between the Board of Directors and Commissioners is the
     antara Direksi dan Dewan Komisaris menjadi kekuatan utama          primary strength in promoting transparency and accountability.
     untuk dapat menerapkan keterbukaan dan akuntabilitas. Sinergi      This synergy fosters transparency in the relationship between
     ini mendukung terciptanya transparansi dalam hubungan              management, led by the Board of Directors, and oversight by
     pengelolaan oleh Direksi dan pengawasan oleh Dewan                 the Board of Commissioners, ultimately leading to a transparent
     Komisaris, yang kemudian akan memberikan profil pelaporan          reporting profile for shareholders. Such synergy enables the
     yang akuntabel kepada pemegang saham. Sinergi ini membawa          Company to operate in compliance with applicable laws and
     Perseroan untuk berjalan dengan baik, sesuai peraturan dan         regulations.
     perundang-undangan yang berlaku.

     Dewan Komisaris mengapresiasi langkah Direksi untuk                The Board of Commissioners appreciates the efforts of the
     melakukan evaluasi maupun peningkatan atas penerapan               Board of Directors to evaluate and enhance the implementation
     GCG. Hal ini tercermin dalam berjalannya fungsi tata kelola        of GCG. This is evident in the effective functioning of the
     antara organ pendukung (komite) Dewan Komisaris dan organ          governance committees affiliated with both the Board of
     pendukun Direksi dengan baik. Secara khusus, komite pendukung      Commissioners and Directors. Specifically, the committees
     Dewan Komisaris adalah Sekretaris Dewan Komisaris, Komite          supporting the Board of Commissioners include the Secretary of



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Audit & Kebijakan Corporate Governance (“KAKCG”), Komite            the Board of Commissioners, the Audit & Corporate Governance
Pengembangan Usaha & Pemantauan Risiko (“KPUPR”), dan               Policy Committee (KAKCG), the Business Development &
Komite Nominasi & Remunerasi (“KNR”).                               Risk Monitoring Committee (KPUPR), and the Nomination &
                                                                    Remuneration Committee (KNR).

Penilaian terhadap kinerja setiap komite terlihat dari pencapaian   The assessment of each committee is based on the achievement
rencana kerja tahun 2023 yang disampaikan melalui laporan           of their 2023 work plans, which are submitted through quarterly
komite kepada Dewan Komisaris setiap triwulan, keaktifan            committee reports to the Board of Commissioners, as well as
mereka dalam memberikan rekomendasi dan masukan bagi                their recommendations and input to the Board of Commissioners.
Dewan Komisaris. Secara khusus, penilaian kinerja Sekretaris        Particularly, the assessment of the Secretary to the Board of
Dewan Komisaris didasarkan pada pelaksanaan fungsi dan tugas        Commissioners is based on the quality of secretarial functions
kesekretariatan dalam membantu kelancaran pelaksanaan               and responsibilities in facilitating the smooth conduct of the
tugas Dewan Komisaris. Penilaian ini di antaranya termasuk          Board of Commissioners’ duties, including meeting preparation,
mempersiapkan rapat, membuat risalah, serta pengarsipan             minute-taking, and document archiving.
dokumen-dokumen.

Dewan Komisaris memberikan apresiasi atas dukungan seluruh          The Board of Commissioners expresses gratitude for the support
komite. Rekomendasi yang mereka berikan menjadi dasar dan           of all committees. The recommendations they offer serve as
pertimbangan dalam melaksanakan fungsi pengawasan atas              the foundation and guidance for the Board of Commissioners
pengelolaan Perseroan yang dijalankan oleh Direksi.                 in carrying out its supervisory function over the Company’s
                                                                    management led by the Board of Directors.

Selain itu, Dewan Komisaris secara aktif terlibat dalam             Furthermore, the Board of Commissioners actively participates
memastikan semua aspek tata kelola dalam Perseroan berjalan         in ensuring the proper governance of all aspects within the
dengan baik. Dewan Komisaris melakukan pengawasan rutin             Company. We conduct regular supervision of operational and
terhadap kegiatan operasional dan keuangan, terutama terkait        financial activities, especially regarding financial reporting,
laporan keuangan, kepatuhan terhadap peraturan, serta               regulatory compliance, and the effectiveness of risk management.
efektivitas pengelolaan risiko. Dewan Komisaris juga telah          Moreover, the Board of Commissioners has established an
menetapkan mekanisme penilaian kinerja yang objektif bagi           objective assessment mechanism for the Management team,
tim Manajemen, memberikan saran-saran yang efektif dalam            providing effective suggestions to enhance business efficiency.
penerapan efisiensi bisnis, hingga berbagai rekomendasi terkait     This includes recommendations concerning management
remunerasi dan insentif Manajemen sesuai prinsip GCG, serta         remuneration and incentives in line with GCG principles, as
memastikan bahwa terdapat kebijakan suksesi yang jelas untuk        well as ensuring the existence of a clear succession policy for
posisi kunci dalam Perseroan.                                       key positions within the Company.

Terlebih penting lagi, Dewan Komisaris mendukung                    Most importantly, the Board of Commissioners supports the
penerapan sistem pengendalian internal yang kuat dan sistem         implementation of a robust internal control system and an
whistleblowing yang efektif di GMF. Kami menerima laporan           effective whistleblowing mechanism at GMF. We receive monthly
WBS secara bulanan dari Direksi untuk membantu Dewan                reports on whistleblowing system (WBS) activities from the
Komisaris memonitor penerapan WBS di GMF. Perihal sistem            Board of Directors to aid in monitoring its implementation.
pengendalian internal, kami melihat implementasinya telah           Regarding the internal control system, we observe that its
berjalan dengan baik di Perseroan, terutama mengingat adanya        implementation has progressed well within the Company,
berbagai peraturan baru yang berlaku pada tahun 2023. Dewan         particularly regarding various new regulations coming into effect
Komisaris juga terus mendorong agar sistem whistleblowing           in 2023. Additionally, the Board of Commissioners continues
dievaluasi secara berkala untuk mengukur efektivitasnya dan         to advocate for periodic evaluations of the whistleblowing
membuat perbaikan yang diperlukan.                                  system to gauge its effectiveness and implement necessary
                                                                    improvements.

PROSPEK USAHA PERSEROAN                                             THE COMPANY’S BUSINESS PROSPECT
Kami melihat bahwa kondisi ekonomi dan industri yang positif        We anticipate that the positive economic and industrial conditions
pada tahun 2023 akan terus berlanjut ke depannya. Tantangan         in 2023 will persist in the future. While challenges such as
memang akan selalu ada, terutama dari konflik berkepanjangan        prolonged conflicts in certain regions and supply constraints
sejumlah negara, serta terhambatnya pasokan, namun pulihnya         may persist, the ongoing recovery of the aviation industry will
industri aviasi akan terus mendorong kinerja Perseroan untuk        continue to bolster the Company’s performance.
menjadi lebih baik.




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32                                                                                                                               Laporan Manajemen
                                                                                                                                  Management Report




     Kami telah mengawasi persiapan strategi yang akan dijalankan                We have overseen the formulation of the strategy that the Board
     Direksi tahun depan. Fokus strategi telah dipersiapkan untuk                of Directors will implement in the coming year. The strategic
     meraih peluang pertumbuhan industri aviasi yang akan                        focus has been designed to capitalize on growth opportunities
     mendorong pertumbuhan bisnis MRO di Indonesia. Kami                         within the aviation industry, which will drive the expansion of
     mendukung upaya Direksi untuk melakukan diversifikasi usaha,                the MRO business in Indonesia. We fully support the Board of
     terutama terkait pengembangan bisnis perawatan IGTE sebagai                 Directors’ effort to diversify the Company’s business, particularly
     daftar portfolio baru yang akan sekaligus membuka kesempatan                through the development of the IGTE maintenance business
     baru bagi Perseroan.                                                        as a new portfolio, which will also unlock new opportunities
                                                                                 for the Company.

     Peluang pertumbuhan usaha ke depannya diperkirakan akan                     We expect future business growth opportunities to be
     semakin positif dan berdasarkan strategi yang ada, kami optimis             increasingly favorable, and based on the current strategy, we
     Perseroan akan tumbuh kuat untuk mencapai target laba 2024                  are confident that the Company will experience strong growth
     sebesar USD17,373,324.                                                      to achieve its 2024 profit target of USD17,373,324.

     PERUBAHAN KOMPOSISI ANGGOTA DEWAN                                           CHANGES IN THE COMPOSITION OF THE BOARD
     KOMISARIS                                                                   OF COMMISSIONERS MEMBERS
     Pada tahun 2023 terdapat pergantian komposisi anggota Dewan                 In 2023, there were changes in the composition of members of
     Komisaris yang dilaksanakan berdasarkan Keputusan RUPS                      the Board of Commissioners, which was implemented based
     Tahunan Tahun Buku 2023 tanggal 28 Juni 2023. Perubahan                     on the Resolution of the Annual GMS for the 2023 Financial
     ini dilakukan dalam rangka meningkatkan kinerja Perseroan                   Year dated June 28, 2023. This change was made to enhance
     dan memenuhi ketentuan Anggaran Dasar Perseroan. Berikut                    the Company’s performance and comply with the provisions
     disampaikan susunan Dewan Komisaris pada akhir tahun 2023.                  of the Articles of Association. Below is the composition of the
                                                                                 Board of Commissioners at the end of 2023.


                                                   Susunan Dewan Komisaris per 31 Desember 2023
                                             Composition of the Board of Commissioners as of December 31, 2023
            Komisaris Utama/Komisaris Independen              : Dharmadi
              President Commissioner/Independent
                         Commissioner

                            Komisaris                         : Rahmat Hanafi
                           Commissioner

                      Komisaris Independen                    : Ali Gunawan
                    Independent Commissioner

                      Komisaris Independen                    : Abhan
                    Independent Commissioner

                      Komisaris Independen                    : Agit Atriantio
                    Independent Commissioner




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PENUTUP                                                                   CLOSING REMARKS
Sebagai penutup laporan singkat kami sebagai Dewan                        In conclusion, as the Board of Commissioners, we extend our
Komisaris, kami mengucapkan terima kasih kepada seluruh                   gratitude to all shareholders, stakeholders, and investors. We
pemegang saham, pemangku kepentingan, dan para investor.                  appreciate the dedication of the Directors and employees, and we
Kami memberikan apresiasi kepada Direksi dan karyawan atas                are thankful for the trust that has been given by customers and
kerja keras mereka dan juga mengucapkan terima kasih atas                 business partners. We firmly believe that the ongoing industrial
kepercayaan para pelanggan dan mitra usaha. Kami percaya                  recovery and economic growth will further strengthen the
bahwa pemulihan industri dan pertumbuhan ekonomi akan                     Company’s performance in the future.
mendorong kinerja Perseroan untuk tumbuh lebih kuat ke
depannya.




                                                            Tangerang, 05 Juni 2024
                                                            Tangerang, June 05, 2024

                                                          Atas nama Dewan Komisaris
                                                     On behalf of the Board of Commissioners




                                                                   DHARMADI
                                                      Komisaris Utama/Komisaris Independen
                                                President Commissioner/Independent Commissioner




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     ANDI FAHRURROZI
     DIREKTUR UTAMA
     CEO




                                                           Direksi terus memperkuat
                                                      kinerja operasi dan bisnis yang
                                                          didukung oleh peningkatan
                                                       rata-rata segmen GA dan NGA
                                                         yang mendukung Perseroan
                                                     membukukan keuntungan bersih
                                                          senilai USD20.17 juta yang
                                                      melebihi target USD15.03 juta.

                                                                   The Board of Directors has
                                                          strengthened the operational and
                                                             business aspects due to higher
                                                        performance of both GA and NGA on
                                                        average, which helped the Company
                                                            achieve a net profit of USD20.17
                                                             million, surpassing the targeted
                                                                           USD15.03 million.




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                                                                                         LAPORAN DIREKSI
                                                                                             Board of Directors Report

PEMEGANG SAHAM DAN PEMANGKU                                         TO OUR ESTEEMED SHAREHOLDERS AND
KEPENTINGAN YANG TERHORMAT,                                         STAKEHOLDERS,

Pada tahun 2023, dunia menyatakan diri terbebas dari COVID-19       In 2023, the world declared itself free from COVID-19, no
dan tidak lagi menganggapnya sebagai sebuah pandemi.                longer considering it a pandemic. Almost all industrial sectors
Hampir seluruh sektor industri mengalami pertumbuhan,               experienced growth, including the aviation industry and MRO.
termasuk industri aviasi serta MRO. Perseroan mampu                 The Company was able to take advantage of these positive
memanfaatkan situasi yang positif dan meningkatkan kinerja          situations and improve its business performance. This is a proud
usaha. Ini merupakan sebuah pencapaian yang membanggakan            achievement, and with this, please allow us, as the Board of
dan bersama dengan ini, perkenankan kami sebagai Direksi            Directors, to submit the Board of Directors Report on managing
menyampaikan Laporan Direksi dalam mengelola Perseroan              the Company in 2023.
pada tahun 2023.

KONDISI PEREKONOMIAN DAN INDUSTRI                                   IMPACT OF ECONOMIC AND INDUSTRIAL
TERHADAP KINERJA PERSEROAN                                          CONDITIONS ON COMPANY PERFORMANCE
Dunia sedang mengalami masa perubahan dari era pandemi ke           The world is transitioning from the pandemic era to the post-
era pasca-pandemi. Berbagai negara, termasuk di dalamnya            pandemic era. Various countries, including different industrial
sektor industri yang berbeda-beda, berupaya untuk mengejar          sectors, are striving to regain their pre-pandemic performance
kembali kinerja positif sebelum pandemi. Niat untuk pulih sudah     levels. The intention to recover has been established, but the
terbangun, namun roda perekonomian global belum sepenuhnya          wheels of the global economy are not yet fully turning due to
berjalan karena masih terdapat ketidaksemimbangan antara            the ongoing imbalance between supply and demand levels.
tingkat pasokan dan permintaan.

Seperti yang telah disampaikan oleh Dewan Komisaris,                As stated by the Board of Commissioners, even amidst the
meskipun di tengah tantangan situasi global, Indonesia              challenges of the global situation, Indonesia is demonstrating
menunjukkan resiliensi pertumbuhan ekonomi nasionalnya.             resilience in its national economic growth. The national economic
Tingkat pertumbuhan ekonomi nasional diproyeksikan akan             growth rate is projected to stabilize at 5% until 2028, remaining
stabil di angka 5% hingga tahun 2028, masih diatas dari GDP         above ASEAN-5 and world GDP levels. In line with this economic
Asean-5 maupun dunia. Sejalan dengan pertumbuhan ekonomi,           growth, total world MRO demand also shows a positive trend.
total MRO Demand dunia juga menunjukkan trend yang positif.         This growth presents a significant opportunity for Indonesian
Pertumbuhan ini menjadi peluang besar bagi bisnis MRO               MRO business to continue enhancing its performance.
Indonesia untuk terus meningkatkan kinerjanya.

Peluang pertumbuhan industri MRO juga didukung oleh                 Opportunities for growth in the MRO industry are also supported
meningkatnya permintaan penumpang untuk menggunakan                 by the increasing demand for air transportation post-pandemic.
transportasi udara pasca pandemi. Peningkatan terlihat              This increase is particularly evident during peak seasons such as
terutama pada saat peak season seperti keberangkatan haji,          Hajj departures, school holidays, and religious holidays, which
libur sekolah, dan hari besar keagamaan yang telah kembali          have returned to pre-pandemic levels. The rise in domestic
seperti level pre-pandemi. Meningkatnya penerbangan domestik        flights has positively impacted GMF’s performance, with 84.6% of
berdampak pada kinerja GMF, yaitu 84.6% pendapatan berasal          revenue coming from domestic clients and aircraft reactivation
dari klien dalam negeri dan juga program rekativasi pesawat         programs from affiliated groups.
dari grup afiliasi.

PERAN DIREKSI DALAM PENENTUAN STRATEGI                              THE ROLE OF THE BOARD OF DIRECTORS IN
DAN KONTROL PENERAPAN STRATEGI USAHA                                DETERMINING STRATEGY AND CONTROLLING
                                                                    THE IMPLEMENTATION OF BUSINESS STRATEGY
Perumusan strategi dan kebijakan strategis Perseroan tertuang di    The Company’s strategy and strategic policies are outlined in
dalam Rencana Jangka Panjang Perusahaan (RJPP) dan Rencana          the Company’s Long-Term Plan (RJPP) and Company Budget
Kerja Anggaran Perusahaan (RKAP). Dalam perumusannya,               Work Plan (RKAP). The Board of Directors plays a crucial role
Direksi berperan dalam menentukan arah dan pertumbuhan              in shaping the direction and growth of the business, ensuring
bisnis, dan juga dalam proses alignment dengan unit-unit terkait.   alignment with related units in the formulation of these plans.




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     Perseroan memiliki proses yang ketat untuk memastikan               The Company has a rigorous process to ensure business
     strategi usaha dilaksanakan secara optimal. Implementasi            strategies are implemented effectively. Strategy implementation
     strategi dikontrol secara bulanan melalui rapat Monthly Review      is monitored monthly through Corporate Monthly Review
     Korporasi yang dihadiri oleh Direksi dan Vice President (VP).       meetings attended by the Board of Directors and Vice President
     Selain itu, setiap tiga bulan, Perseroan menerbitkan Laporan        (VP). Additionally, every three months, the Company publishes a
     Manajemen Triwulan yang menjelaskan mengenai tingkat                Quarterly Management Report, detailing the level of achievement
     pencapaian dan progres implementasi strategi yang tertuang          and progress in implementing the strategy outlined in the RKAP
     dalam dokumen RKAP untuk kemudian disahkan oleh Direksi             document, which is approved by the Board of Directors and the
     dan Dewan Komisaris. Direksi juga aktif melaksanakan rapat          Board of Commissioners. The Board of Directors also holds
     Direktorat setiap minggunya untuk memastikan keberjalanan           weekly Directorate meetings to ensure the implementation of
     strategi dan operasional di areanya masing-masing.                  strategies and operations in their respective areas.

     STRATEGI MERAIH PELUANG USAHA TAHUN 2023                            STRATEGY TO ACHIEVE BUSINESS
                                                                         OPPORTUNITIES IN 2023
     RKAP tahun 2023 telah disusun untuk meraih peluang                  The 2023 RKAP has been prepared to capitalize on business
     usaha yang didorong oleh pertumbuhan industri aviasi pasca          opportunities driven by post-pandemic growth in the aviation
     pandemi. Direksi telah melakukan berbagai inisiatif untuk           industry. The Board of Directors has undertaken various
     terus meningkatkan kondisi keuangan Perseroan dan menjaga           initiatives to improve the Company’s financial condition and
     stabilitas operasional. Walaupun demikian, terdapat tiga strategi   maintain operational stability. The three main strategies for
     utama pada tahun 2023 disesuaikan dengan peluang usaha dari         2023, adapted to business opportunities from the growth of
     pertumbuhan industri aviasi. Strategi-strategi tersebut adalah:     the aviation industry, are:

     1. Peningkatan Profitabilitas                                       1. Increased Profitability
        Perseroan meningkatkan customer share of wallet, terutama           The Company aims to increase its customer share of wallet,
        dari Non GA, dengan menambah jumlah pesawat yang dirawat            especially from non-GA, by maintaining more aircraft at GMF
        di GMF, ataupun dengan menawarkan portofolio produk                 and offering a broader product portfolio. Internal quality
        lain. Perseroan juga meningkatkan kualitas internal dengan          improvements include optimizing Supply Chain Management,
        mengoptimalisasi Supply Chain Management, Optimalisasi              optimizing assets and inventory, and developing manpower
        Aset dan Persediaan, dan Manpower Development melalui               through the License Engineer program, Leader Development
        program License Engineer, Leader Development Program,               Program, and Multirole Program. Business diversification
        Multirole Program. Diversifikasi bisnis juga terus diperluas        continues to expand through the formation of Industrial
        dengan membentuk Industrial Solutions yang terdiri dari             Solutions, including Power Services, and Fabrication &
        Power Services, serta Fabrication & Manufacturing mencakup          Manufacturing, encompassing generators, IPP, oil & gas,
        generator, IPP, oil & gas, railway, chemical, fabrication, dan      railway, chemical, fabrication, and other sectors.
        lainnya.

     2. Restrukturisasi Utang                                            2. Debt Restructuring
        Mengelola arus kas dan likuiditas Perseroan dengan                  The Company manages its cash flow and liquidity by
        melanjutkan program restrukturisasi utang pada tahun 2022.          continuing the debt restructuring program initiated in 2022.
        Program ini mencakup restrukturasi fasilitas pendanaan              This program includes restructuring funding facilities and
        dan utang vendor yang mencakup pinjaman jangka panjang              vendor debt, covering both long-term and short-term loans.
        maupun jangka pendek.

     3. Perbaikan Ekuitas                                                3. Equity Improvements
        Melakukan divestasi anak usaha, yaitu menjual saham                 Divesting its subsidiary, specifically by selling PT GDPS
        PT GDPS sehingga diharapkan PT GDPS dapat lebih                     shares, allowing it to further develop its business outside
        mengembangkan bisnis di luar GA Group (memperluas                   the GA Group, expanding its network and securing financial
        networking dan mengamankan financial aid dari mitra).               aid from partners.

     STRATEGI PERSEROAN MENGHADAPI                                       COMPANY STRATEGY FOR FACING CHALLENGES
     TANTANGAN TAHUN 2023                                                IN 2023
     Pulihnya industri aviasi tidak selaras dengan kesiapan rantai       The recovery of the aviation industry has not aligned with the
     pasok. Terdapat keterbatasan material dan parts dari supplier       readiness of the supply chain. Suppliers have faced difficulties
     untuk memenuhi banyaknya permintaan dari maskapai untuk             providing the materials and parts needed to meet the surge in
     mereaktivasi armada pesawat akibat ketidaksiapan untuk              requests from airlines to reactivate their fleets due to being
     memulihkan usaha pasca pandemi, serta konflik geopolitik di         unprepared in restoring their businesses after the pandemic,
     sejumlah wilayah.                                                   coupled with geopolitical conflicts in various regions.




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Kendala rantai pasok yang dialami oleh industri MRO telah         Supply chain constraints experienced by the MRO industry have
menjadi kendala utama yang membuat Perseroan harus                become a significant obstacle, requiring effective cash flow
mengelola arus kas secara efektif. Pembayaran uang muka           management by the Company. Large down payments are often
dalam jumlah besar sering kali untuk mengamankan kepastian        required to ensure the availability of spare parts. The Company
ketersediaan suku cadang. Perseroan juga harus mengatur           must also organize maintenance work schemes and slots with
skema dan slot pengerjaan perawatan dengan mitra secara lebih     partners more effectively to achieve optimal Turnaround Time
efektif untuk dapat TAT pekerjaan agar optimal sesuai target.     (TAT) according to targets.

Dalam menghadapi kendala-kendala tersebut, Perseroan telah        To overcome these obstacles, the Company has implemented
menjalankan berbagai strategi seperti planning improvement        several strategies, including planning improvements,
yang mencakup telaah dan evaluasi periodik item planning,         covering periodic review and evaluation of planning items
standardization of planning. Perseroan juga menjalankan           and standardization of planning processes. The Company
material fulfillment improvement melalui partnership dengan       also conducted material fulfillment improvements through
skema consignment & just in time, negosiasi payment terms, dan    partnerships with consignment and just-in-time schemes,
negosiasi credit limit dengan forwarder. Strategi lainnya yang    negotiating payment terms, and negotiating credit limits
telah dijalankan adalah inventory management improvement,         with forwarders. Other strategies are inventory management
peningkatan inhouse repair, dan penyesuaian harga material.       improvements, in-house repair capabilities improvement and
                                                                  material price adjustment.

PENCAPAIAN TARGET PERSEROAN                                       ACHIEVEMENT OF COMPANY TARGETS
Strategi Perseroan dalam memanfaatkan peluang usaha dan           The Company’s strategy in exploiting business opportunities and
menghadapi berbagai tantangan pada tahun 2023 terbilang           addressing various challenges in 2023 has been quite effective,
cukup efektif karena mayoritas kinerja operasi dan bisnis sudah   as the majority of operational and business performance metrics
sesuai dengan target.                                             have aligned with targets.

Kinerja operasi dan bisnis pada tahun 2023 terbilang positif      Operational and business performance in 2023 has been
yang merupakan kontribusi dari peningkatan rata-rata segmen       positive, driven by an average increase in the GA and NGA
GA dan NGA. Walaupun demikian, pendapatan pada segmen             segments. However, revenues in the power services and
power services dan government tercapai sedikit di bawah           government segments fell slightly below target. The decline
target. Penurunan segmen power services terutama terjadi          in the power services segment primarily resulted from the
karena mundurnya proyek dari klien. Sedangkan pendapatan          withdrawal of projects by clients. Meanwhile, revenue in the
pada segmen government tidak tercapai karena terdapat             government segment was not achieved due to the rescheduling
reschedule aktivitas maintenance ke tahun 2024. Di sisi lain,     of maintenance activities to 2024. Additionally, the Company’s
ekuitas Perseroan masih tercatat negatif sehingga menghalangi     equity remains negative, hindering business expansion efforts.
upaya ekspansi usaha.

Pada akhirnya, pada akhir tahun 2023, Perseroan tetap             Despite these challenges, by the end of 2023, the Company
mampu membukukan keuntungan bersih senilai USD20.17               recorded a net profit of USD20.17 million, surpassing the target
juta dari target USD15.03 juta. Keuntungan pada tahun 2023        of USD15.03 million. This profitability was mainly achieved
didapatkan terutama karena adanya peningkatan kinerja operasi,    through improvements in operational performance, operational
restrukturisasi operasional, dan upaya efisiensi.                 restructuring, and efficiency efforts.

PROSPEK USAHA PERSEROAN                                           COMPANY BUSINESS PROSPECTS
Asumsi APBN 2024 menargetkan pertumbuhan ekonomi                  The 2024 APBN assumptions target economic growth of 5.2%.
sebesar 5,2%. Indonesia terus berkembang untuk menjadi negara     Indonesia continues to progress towards becoming a developed
maju di tengah berbagai gejolak ekonomi dunia dan tantangan       country amidst various global economic turmoil and challenges.
global. Sedangkan IMF memproyeksikan pertumbuhan ekonomi          Meanwhile, the IMF projects that global economic growth in
global tahun 2024 akan tetap berada di level yang sama yaitu      2024 will remain at 3.1%, the same level as in 2023.
3,1% pada tahun 2023.

Dalam APBN 2024, salah satu target yang telah ditetapkan          In the 2024 APBN, the government has set several targets,
pemerintah adalah pembangunan infrastruktur jalan,                including the construction of road infrastructure, increasing
peningkatan kapasitas bandara, dan pengembangan 21 lokasi         airport capacity, and developing 21 new airport locations. The
bandara baru. Pengembangan infrastruktur transportasi menjadi     development of transportation infrastructure aims to meet the
terutama untuk merealisasikan target pembangunan Ibu Kota         development targets of the Nusantara Capital City (IKN) and
Negara (IKN) dan mendorong perkembangan konektivitas              enhance national connectivity.
nasional.




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     Perseroan merasa optimis dengan perkembangan positif ke          The Company is optimistic about positive future developments,
     depannya dilihat dari pembangunan infrastruktur transportasi     given the advancement of transportation infrastructure and
     dan pemulihan industri aviasi serta MRO. Perseroan berfokus      the recovery of the aviation and MRO industries. The Company
     pada usaha untuk memperkuat dan memaksimalkan                    focuses on strengthening and maximizing the business
     pengembangan usaha yang telah dilakukan pada tahun 2023          development efforts initiated in 2023 under the theme “Growing
     dengan mengusung tema “Growing Together, Striving for            Together, Striving for Excellence.”
     Excellence”.

     Strategi-strategi utama GMF untuk mewujudkan tema usaha          GMF’s main strategies to realize this business theme involve
     adalah dengan menerapkan Bold Strategy dengan tiga aspek         implementing a Bold Strategy with three main aspects:
     utama mencakup Profitability Improvement, Restructuring &        Profitability Improvement, Restructuring & Cash Flow
     Cash Flow Optimization, Equity Improvement. Kekuatan strategi    Optimization, and Equity Improvement. The strength of GMF’s
     GMF akan dioptimalkan untuk mencapai target pendapatan           strategy will be optimized to achieve a revenue target of
     sebesar 389.15 MUSD dengan laba bersih sebesar 17.37 MUSD.       USD389.15 million with a net profit of USD17.37 million.

     TATA KELOLA DAN KONTRIBUSI KEBERLANJUTAN                         SUSTAINABILITY GOVERNANCE AND
     MENCAKUP ASPEK SOSIAL DAN PELESTARIAN                            CONTRIBUTIONS INCLUDING SOCIAL ASPECTS
     LINGKUNGAN [2-14, 2-22, D.1]                                     AND ENVIRONMENTAL CONSERVATION [2-14,
                                                                      2-22, D.1]
     Perseroan sangat memperhatikan penerapan tata kelola             The Company is committed to implementing good corporate
     perusahaan yang baik (GCG) mencakup serangkaian praktik,         governance (GCG), which covers a series of practices, policies, and
     kebijakan, dan sistem untuk memastikan aktivitas operasional     systems to ensure operations are conducted transparently, fairly,
     berjalan secara transparan, adil, dan akuntabel, serta patuh     and accountably, and in compliance with the law. A crucial aspect
     terhadap hukum. Salah satu perspektif penting dalam penerapan    of GCG within the Company is the synergy built between the
     GCG di lingkungan Perseroan adalah sinergi yang dibangun oleh    Board of Directors, Board of Commissioners, shareholders, and
     Direksi, Dewan Komisaris, pemegang saham, dan pemangku           stakeholders. This synergistic relationship among the Company’s
     kepentingan. Keberadaan organ utama Perseroan yang sinergis      main organs provides stability in management, supervision, and
     memberikan stabilitas pada pengelolaan, pengawasan, serta        strategic decision-making.
     pengambilan keputusan strategis.

     Pada tahun 2023, seluruh organ utama Perseroan telah             In 2023, all main organs of the Company fulfilled their functions
     menjalankan fungsi dan tanggung jawabnya sesuai dengan           and responsibilities in accordance with their respective positions
     jabatan dan peran masing-masing. Hal ini juga termasuk           and roles. This included the preparation of the Sustainability
     dalam proses persiapan Laporan Keberlanjutan, seluruh organ,     Report, where all organs, including divisions responsible for
     termasuk divisi yang bertanggung jawab untuk menangani           handling various aspects of sustainability, compiled their
     berbagai aspek khusus terkait keberlanjutan, mempersiapkan       respective reports into a comprehensive Sustainability Report.
     laporan masing-masing untuk kemudian dijadikan satu dalam        The Company has made various efforts to implement GCG
     Laporan Keberlanjutan. Perseroan telah melakukan berbagai        principles and aspects at every organizational level, including
     upaya dalam menerapkan prinsip-prinsip dan aspek GCG di          improving GCG-related tools and policies, promoting GCG, and
     setiap tingkatan dan jenjang organisasi, antara lain melalui     periodically monitoring its implementation to ensure effective
     penyempurnaan perangkat dan kebijakan terkait GCG, sosialisasi   application.
     GCG, termasuk pengawasan pelaksanaan implementasi GCG
     secara berkala untuk mendukung penerapan yang semakin
     efektif.

     Perseroan senantiasa berupaya untuk selalu berperilaku etis      The Company always strives to conduct business ethically.
     dalam berbisnis. Pendekatan kami terhadap tata kelola usaha      Our approach to business governance extends beyond
     lebih dari sekadar kepatuhan. Direksi, bersama Dewan Komisaris   compliance. The Board of Directors, together with the Board
     dan seluruh karyawan, menyadari bahwa kegiatan usaha harus       of Commissioners and all employees, recognize that business
     dapat berkontribusi lebih bagi masyarakat. Bergerak di bidang    activities must contribute positively to society. Operating in the
     MRO, GMF memiliki posisi sebagai salah satu pilar pendukung      MRO sector, GMF is a key pillar of the aviation industry, playing
     industri penerbangan, yang berperan penting dalam memperkuat     an important role in strengthening national connectivity. The
     konektivitas nasional. Kualitas maintenance, repair, operation   quality of maintenance, repair, and operations for airline fleets
     yang dilakukan untuk armada maskapai akan memastikan             ensures the seamless movement of passengers and goods,
     kelancaran pergerakan penumpang dan barang sehingga              thereby supporting national economic activity as a whole.
     memperkuat aktivitas ekonomi nasional secara keseluruhan.




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Secara khusus, Perseroan juga berupaya untuk dapat                    Specifically, the Company also aims to increase its economic
meningkatkan kontribusi perekonomian bagi pemegang saham              contribution to shareholders by expanding into non-aviation
dengan berekspansi ke bisnis non aviasi. Upaya ini juga diiringi      businesses. This effort is accompanied by the launch of
dengan peluncuran inovasi-inovasi terbaru yang nantinya akan          innovative solutions that will enhance operational cost efficiency
berdampak ada efisiensi biaya operasional dan peningkatan             and profitability.
profitablitas Perseroan.

Komitmen GMF akan kualitas pengerjaan, memastikan                     GMF’s commitment to quality work and ensure profitability
profitabilitas, memperkuat citra GMF sebagai entitas bisnis           strengthens its image as a responsible business entity that
bertanggung jawab untuk secara aktif memberikan kontribusi            actively contributes to social welfare. Although our business is
terhadap kesejahteraan sosial. Sifat bisnis kami tidak                not directly related to the environment, we strive to minimize
berhubungan langsung dengan lingkungan, namun kami                    the environmental impact of our operations by reducing energy
berupaya meminimalisasi dampak lingkungan dari operasional            and electricity use and managing non-hazardous (B3) waste.
melalui pengurangan penggunaan energi dan listrik serta               Additionally, the Company is working to increase greenery in
pengolahan limbah non B3. Selain itu, Perseroan juga berupaya         several surrounding areas.
untuk meningkatkan penghijauan di beberapa area sekitar.

Perseroan juga berupaya untuk memberikan kontribusi sosial            The Company also endeavors to provide social contributions
untuk pihak internal dan juga eksternal. Perseroan berupaya           to both internal and external parties. We strive to maintain
untuk dapat mempertahankan kesehatan dan keselamatan kerja            occupational health and safety (OHS) for all employees by
(K3) seluruh karyawan dengan memberlakukan prosedur ketat             implementing strict procedures in accordance with ISO 14001
sesuai ISO 14001 dan OHSAS 18001 dalam Occupational Safety            and OHSAS 18001 standards for Occupational Safety and Health
and Health dan Environmental Management. Perseroan juga               and Environmental Management. We also aim to provide a
berupaya memberikan rasa aman dan menciptakan lingkungan              secure and conducive work environment.
kerja yang kondusif.

Bagi pihak eskternal, Perseroan berkontribusi nyata dalam             For external parties, the Company makes real contributions
merealisasikan kegiatan Tanggung Jawab Sosial dan Lingkungan          through Social and Environmental Responsibility (TJSL) activities.
(TJSL). Pada tahun 2023, Perseroan tidak menetapkan target            In 2023, the Company did not set specific sustainability targets,
secara spesifik terkait keberlanjutan, kecuali dari sisi pencapaian   aside from economic achievements in terms of business
ekonomi, terutama dari segi bisnis yang sudah kami ungkapkan          performance that we have disclosed earlier. The TJSL program
sebelumnya. Program TJSL menjadi salah satu program dari              is one of the sustainability initiatives the Company routinely
keberlanjutan yang rutin dilaksanakan Perseroan untuk                 implements to enhance social and health aspects, religious and
mengembangkan aspek sosial dan kesehatan, keagamaan,                  philanthropic activities, thereby improving the quality of life in the
serta kegitan filantropi untuk meningkatkan kualitas hidup            surrounding community. The Company also encourages active
masyarakat sekitar. Perseroan juga mendorong partisipasi aktif        employee participation in community contributions by sending
karyawan untuk berkontribusi langsung bagi masyarakat dengan          representatives to SOE volunteer activities. GMF contributes
mengirimkan perwakilan dalam kegiatan relawan bakti BUMN.             to improving the quality of education and economic levels in
GMF turut berkontribusi untuk membantu meningkatkan kualitas          various regions in Indonesia. Although we have not planned
pendidikan dan taraf ekonomi di beberapa daerah di Indonesia.         a long-term sustainability program with specific targets, we
Kami belum merencanakan program keberlanjutan secara jangka           can report that the Company has invested Rp201.54 million in
panjang sehingga belum memiliki target khusus. Namun, bisa            social initiatives to realize TJSL programs.
kami sampaikan bahwa Perseroan telah mengeluarkan biaya
Rp201.54 juta untuk investasi sosial merealisasikan program-
program TJSL.

Silahkan membaca informasi yang lebih rinci mengenai realisa          For detailed information regarding the realization of the
program-program Perseroan terkait keberlanjutan yang sudah            Company’s programs related to sustainability, please refer to
dibagi ke dalam beberapa bab dalam Laporan Terintegrasi ini.          the various chapters in this Integrated Report. By reading this
Dengan membaca keseluruhan buku ini, para pembaca akan                entire report, readers will gain comprehensive information to
mendapatkan informasi secara menyeluruh untuk menilai upaya           assess the Company’s sustainability efforts.
keberlanjutan Perseroan.

Dalam merealisasikan berbagai program keberlanjutan, termasuk         In implementing various sustainability programs, including
upaya untuk menjalankan prinsip-prinsip GCG, terdapat                 efforts to uphold GCG principles, there are several challenges
berbagai tantangan yang perlu diatasi. Saat ini penerapan             to overcome. Currently, the implementation of GCG in the
GCG di Perseroan telah mengikuti standar regulasi dan praktik         Company adheres to regulatory standards and industry best
terbaik industri yang terutama disesuaikan dengan standar             practices, especially those governed by the Financial Services



PT Garuda Maintenance Facility Aero Asia Tbk                                                       Laporan Terintegrasi 2023 Integrated Report
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40                                                                                                                          Laporan Manajemen
                                                                                                                             Management Report




     Otoritas Jasa Keuangan (OJK) dan Kementerian BUMN. Perseroan            Authority (OJK) and SOE Ministry. The Company has supporting
     telah memiliki dokumen-dokumen pendukung GCG dan selalu                 GCG documents and consistently disseminates the latest
     melakukan sosialiasi praktik tata kelola dan regulasi terkini           governance practices and regulations. With the ratification
     secara konsisten. Ke depannya, dengan telah diratifikasinya             of the Regulation of the Minister of State-Owned Enterprises
     Peraturan Menteri Badan Usaha Milik Negara (“BUMN”)                     (“SOE”) Number PER-2/MBU/03/2023 concerning Guidelines
     Nomor PER-2/MBU/03/2023 tentang Pedoman Tata Kelola                     for Governance and Significant Corporate Activities of BUMN
     dan Kegiatan Korporasi Signifikan BUMN (“Permen 2 BUMN”),               (“Permen 2 BUMN”), the Company is further encouraged to
     akan semakin mendorong Perseroan untuk meningkatkan                     enhance its governance implementation. Currently, the Company
     implementasi tata kelola yang lebih baik. Hingga saat ini,              has adjusted several charters and policies in response to the
     Perseroan telah menyesuaikan beberapa piagam maupun                     ratification of Permen 2 BUMN. The Company is committed to
     kebijakan sebagai tindak lanjut dari ratifikasi Permen 2 BUMN.          continuing the process of updating policies and procedures to
     Perseroan berkomitmen untuk terus berproses melakukan                   ensure proper implementation.
     pemutakhiran kebijakan maupun prosedur, hingga pada taraf
     implementasinya.

     Dari sisi keberlanjutan, masih kurangnya kesadaran dan                  Regarding sustainability, there is still a lack of employee
     keterlibatan karyawan dan Perseroan akan terus berupaya                 awareness and involvement. The Company will continue
     meningkatkan proses diseminasi informasi terkini dan                    to improve the dissemination of the latest information and
     mendorong keterlibatan karyawan secara aktif. Kami akan terus           encourage active employee engagement. We aim to enrich
     memperkaya informasi dan wawasan terkait keberlanjutan                  information and insights related to sustainability to prepare
     untuk mempersiapkan berbagai program sosial yang berdampak              various social programs with long-term impacts and a broader
     jangka panjang dengan jangkauan lebih luas.                             reach.

     PERUBAHAN KOMPOSISI ANGGOTA DIREKSI                                     CHANGES IN THE COMPOSITION OF MEMBERS
                                                                             OF THE BOARD OF DIRECTORS
     Pada tahun 2023 terdapat pergantian komposisi anggota Direksi           In 2023, there was a change in the composition of the Board of
     yang dilaksanakan berdasarkan Keputusan RUPS Tahunan Tahun              Directors based on the Resolution of the 2023 Annual GMS dated
     Buku 2023 tanggal 28 Juni 2023. Perubahan ini dilakukan                 June 28, 2023. This change was made to improve the Company’s
     dalam rangka meningkatkan kinerja Perseroan dan memenuhi                performance and comply with the provisions of the Company’s
     ketentuan Anggaran Dasar Perseroan. Berikut disampaikan                 Articles of Association. The following is the composition of the
     susunan Direksi pada akhir tahun 2023.                                  Board of Directors at the end of 2023.


                                                        Susunan Direksi per 31 Desember 2023
                                             Composition of the Board of Directors as of December 31, 2023
                                        Direktur Utama                            : Andi Fahrurrozi
                                             CEO

                                  Direktur Base Operation                         : Irvan Pribadi
                                  Director of Base Operation

                        Direktur Human Capital & Corporate Affairs                : Pudjo Sarwoko
                        Director of Human Capital & Corporate Affairs

                                      Direktur Keuangan                           : Salusra Satria
                                      Director of Finance

                                   Direktur Line Operation                        : Mukhtaris
                                   Director of Line Operation




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                                                                                                                                               41



PENUTUP                                                               CLOSING REMARKS
Akhir kata, izinkan kami sebagai Direksi memberikan apresiasi         To conclude this report, allow us as Directors to express our
kepada Dewan Komisaris dan para pemegang saham atas                   appreciation to the Board of Commissioners and shareholders
dukungan kepada Perseroan sepanjang tahun 2023. Kami                  for their support for the Company throughout 2023. We also
juga mengucapkan terima kasih kepada regulator, pelanggan,            express our gratitude to regulators, customers, suppliers and
pemasok, dan mitra usaha yang telah membantu Perseroan                business partners who have helped the Company to achieve
untuk mencapai kinerja positif pada tahun 2023. Kami juga             positive performance in in 2023. We would also like to express
ingin menyampaikan apresiasi kepada seluruh karyawan atas             our appreciation to all employees for their hard work in taking
kerja keras dalam memanfaatkan peluang pertumbuhan industri           advantage of industry growth opportunities to ensure business
untuk memastikan keberlanjutan usaha menuju masa-masa                 sustainability in many years ahead.
yang akan datang.




                                                       Tangerang, 05 Juni 2024
                                                       Tangerang, June 05, 2024

                                    Atas nama Direksi PT Garuda Maintenance Facility Aero Asia Tbk
                           On behalf of the Board of Directors of PT Garuda Maintenance Facility Aero Asia Tbk




                                                          ANDI FAHRURROZI
                                                           Direktur Utama
                                                                CEO




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                                                                                                                              Management Report




     PERNYATAAN DEWAN KOMISARIS DAN DIREKSI
     TENTANG TANGGUNG JAWAB ATAS LAPORAN
     TERINTEGRASI 2023 PT GARUDA MAINTENANCE
     FACILITY AERO ASIA TBK
     Statement of the Board of Commissioners and the Board of Directors on the Responsi-
     bility for the 2023 Integrated Report of PT Garuda Maintenance Facility Aero Asia Tbk


     Kami yang bertandatangan di bawah ini menyatakan bahwa semua            We, the undersigned, declare that the information in the 2023
     informasi dalam Laporan Terintegrasi PT Garuda Maintenance              Integrated Report of PT Garuda Maintenance Facility Aero Asia
     Facility Aero Asia Tbk tahun buku 2023 sudah dimuat secara              Tbk is presented in its entirety and we are fully responsible for
     lengkap dan bertanggung jawab penuh atas kebenaran isi Laporan          the correctness of the contents of this 2023 Integrated Report.
     Terintegrasi Perseroan. Demikian pernyataan ini dibuat dengan           The above statement is made truthfully.
     sebenar-benarnya.



                                                                 Tangerang, 05 Juni 2024
                                                                 Tangerang, June 05 2024

                                                                    Dewan Komisaris
                                                                 Board of Commissioners




                                                                         Dharmadi
                                                           Komisaris Utama/Komisaris Independen
                                                     President Commissioner/Independent Commissioner




                                  Rahmat Hanafi                                                      Ali Gunawan
                                    Komisaris                                                    Komisaris Independen
                                  Commissioner                                                 Independent Commissioner




                                    Abhan                                                            Agit Atriantio
                             Komisaris Independen                                                Komisaris Independen
                           Independent Commissioner                                            Independent Commissioner




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                                                                                                                                           43



                       PERNYATAAN DEWAN KOMISARIS DAN DIREKSI
                        TENTANG TANGGUNG JAWAB ATAS LAPORAN
                      TERINTEGRASI 2023 PT GARUDA MAINTENANCE
                                          FACILITY AERO ASIA TBK
  Statement of the Board of Commissioners and the Board of Directors on the Responsi-
  bility for the 2023 Integrated Report of PT Garuda Maintenance Facility Aero Asia Tbk


Kami yang bertandatangan di bawah ini menyatakan bahwa semua     We, the undersigned, declare that the information in the 2023
informasi dalam Laporan Terintegrasi PT Garuda Maintenance       Integrated Report of PT Garuda Maintenance Facility Aero Asia
Facility Aero Asia Tbk tahun buku 2023 sudah dimuat secara       Tbk is presented in its entirety and we are fully responsible for
lengkap dan bertanggung jawab penuh atas kebenaran isi Laporan   the correctness of the contents of this 2023 Integrated Report.
Terintegrasi Perseroan. Demikian pernyataan ini dibuat dengan    The above statement is made truthfully.
sebenar-benarnya.



                                                 Tangerang, 05 Juni 2024
                                                 Tangerang, June 05 2024

                                                    Dewan Komisaris
                                                 Board of Commissioners




                                                      Andi Fahrurrozi
                                                      Direktur Utama
                                                            CEO




                          Irvan Pribadi                                                 Pudjo Sarwoko
                    Direktur Base Operation                               Direktur Human Capital & Corporate Affairs
                   Director of Base Operation                            Director of Human Capital & Corporate Affairs




                          Salusra Satria                                                 Mukhtaris
                        Direktur Keuangan                                          Direktur Line Operation
                        Director of Finance                                       Director of Line Operation




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                                                03




                                                     PROFIL
                                                PERUSAHAAN
                                                       Company Profile
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     INFORMASI UMUM DAN IDENTITAS PERUSAHAAN [2-1]
     General Information and Corporate Identity [2-1]


              Nama Perusahaan                        PT Garuda Maintenance Facility Aero Asia Tbk
              Company Name

              Akronim                                GMF
              Acronym

              Tanggal Pendirian                      26 April 2002
              Date of Establishment                  April 26, 2002

              Beroperasi Komersial                   2002
              Commercial Operation

              Dasar Hukum Pendirian                  Akta Pendirian No. 93 tanggal 26 April 2002, yang telah disahkan dari Menteri Kehakiman dan Hak Asasi
              Legal Basis of Establishment           Manusia RI dengan Surat Keputusan No. C-11685 HT.01.01.TH.2002 tanggal 28 Juni 2002.
                                                     Deed of Establishment No. 93 dated April 26, 2002, which was ratified by the Minister of Justice and
                                                     Human Rights Republic of Indonesia with Decree No. C-11685 HT.01.01.TH.2002 dated June 28, 2002.

              Bidang Usaha                           Jasa Perawatan, Reparasi, dan Overhaul Pesawat Terbang
              Business Fields                        Aircraft Maintenance, Repair, and Overhaul Services

              Status dan Badan Hukum                 GMF merupakan Perseroan Terbatas (PT) yang memperdagangkan sahamnya ke publik di bursa efek
              Status and Legal Entity                sehingga menyandang status Perusahaan Terbuka (Tbk).
                                                     GMF is a Limited Liability Company (PT) that offers its share to the public through the stock exchange
                                                     and is therefore classified as a Public Company (Tbk).

              Tanggal Pencatatan di Bursa            Saham Perseroan dicatatkan di Bursa Efek Indonesia (BEI) pada tanggal 10 Oktober 2017.
              Listing Date on the Exchange           The Company’s shares are listed on the Indonesia Stock Exchange (IDX) on October 10, 2017.

              Kepemilikan Ownership                  PT Garuda Indonesia (Persero) Tbk         89,1%

                                                     Publik | Public                           10%

                                                     PT Aero Wisata                            0,9%

              Modal Dasar                            Rp10.000.000.000.000,00 (sepuluh triliun Rupiah) yang terbagi atas 100.000.000.000 (seratus miliar)
              Authorized Capital                     saham dengan masing-masing saham bernilai Rp100,00 (seratus Rupiah).
                                                     Rp10,000,000,000,000.00 (ten trillion Rupiah) divided into 100,000,000,000 (one hundred billion)
                                                     shares of Rp100.00 (one hundred Rupiah) per share.

              Modal Ditempatkan dan Disetor          Modal yang ditempatkan dan disetor penuh sebanyak 28.233.511.500 (dua puluh delapan miliar dua ratus
              Penuh                                  tiga puluh tiga juta lima ratus sebelas ribu lima ratus) lembar saham bernilai Rp2.823.351.150.000 (dua
              Issued and Fully Paid Capital          triliun delapan ratus dua puluh tiga miliar tiga ratus lima puluh satu juta seratus lima puluh ribu Rupiah).
                                                     The issued and fully paid capital is 28,233,511,500 (twenty-eight billion two hundred thirty-three million
                                                     five hundred eleven thousand five hundred) shares of Rp2,823,351,150,000 (two trillion eight hundred
                                                     twenty-three billion three hundred fifty-one million one hundred fifty thousand Rupiah).

              Kantor Pusat [C.2]                     Lantai 2, Lobby Selatan Hangar 4
              Head Office [C.2]                      PT Garuda Maintenance Facility Aero Asia Tbk
                                                     Area Perkantoran Bandara Soekarno-Hatta, Kelurahan Pajang, Kecamatan Benda, Kota Tangerang,
                                                     Banten 15125

                                                     Second Floor, South Lobby Hangar 4
                                                     PT Garuda Maintenance Facility Aero Asia Tbk
                                                     Soekarno-Hatta Airport Office Area, Pajang Village, Benda District, Tangerang City, Banten 15125

                                                     Fax | Facsimile
                                                     : +62 21 550 3555

                                                     Telepon | Phone
                                                     : +62 21 550 8717/ 8727/8737

                                                     Surel | Email
                                                     : corporatecommunications@gmf-aeroasia.co.id

              Media Sosial                                  GMF AeroAsia
              Social Media
                                                            GMF AeroAsia

                                                            GMF AeroAsia

                                                            @gmfaeroasia



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                                                                                        SKALA USAHA [C.3]
                                                                                                     Business Scale [C.3]



   SKALA EKONOMI | ECONOMIC SCALE

                              Jumlah Aset                                                   Jumlah Liabilitas
                               Total Assets                                                  Total Liabilities



                      450.02                                                              761.18
               USD                                                                USD



                                                juta | million                                                juta | million




   SKALA PEGAWAI | EMPLOYEE SCALE

   Jumlah Pegawai                                                        Pria    Wanita
   Total Employees                                                       Male    Female




                            *Jumlah pegawai tercatat merupakan
                            pegawai tetap Perseroan di luar entitas
                            anak.
                            *This is the total of the Company’s
                            permanent employees, excluding                                Berdasarkan Jenis Kelamin
 4.348 orang | people       subsidiaries.                                3.906    442     By Gender




                                                                                                       ≥ 51
Vice President                                               Manager                                   474
       18                                                        330                                   31-50
Senior Manager                                                   Staff                                 2.144
       97                                                        3.903                                ≤ 30
                                                                                                      1.730
                          Berdasarkan Jabatan                                              Berdasarkan Usia
                              By Position                                                      By Age


                                       Doktoral (S3)
                                       Doctorate             2
                                       Magister (S2)
                                       Master                158
                                                                                               Karyawan Tetap
                                       Sarjana (S1)
                                                             1.339                             Permanent Employee          4.348
                                       Bachelor
                                       Diploma (D3)                                            Karyawan Tidak Tetap
                                       Diploma               1.877                             Contract Employee           527
                                       Sekolah
                                       Menengah
                                       Atas                  964
                                       Senior High

                        Berdasarkan Pendidikan
                            By Education



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                                                                 SKALA KEPEMILIKAN SAHAM
                                                                   SHAREHOLDERS SCALE
                                                                           0,9%
                                                              10%




                                                                    Ticker Code
                                                                       GMFI                   89,1%




                                                          PT Garuda Indonesia (Persero) Tbk
                                                          PT Aero Wisata
                                                          Publik | Public


                                                                    SKALA OPERASIONAL
                                                                    OPERATIONAL SCALE




                                                     Wilayah Operasional            Lokasi Perawatan Line Maintenance
                                                      Operational Areas                  Line Maintenance Station



                                           Indonesia                                          67




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                                                                          RIWAYAT SINGKAT GMF
                                                                                                A Brief History of GMF


PENDIRIAN PERSEROAN                                               COMPANY ESTABLISHMENT

AWAL PENDIRIAN PERSEROAN                                          THE COMPANY’S ESTABLISHMENT JOURNEY
Perjalanan PT Garuda Maintenance Facility Aero Asia Tbk           The history of PT Garuda Maintenance Facility Aero Asia Tbk
("Perseroan" atau "GMF") berawal dari pembentukan Direktorat      (the "Company" or "GMF") began with the establishment of
Teknik Garuda Indonesia di tahun 1949. Setelah lebih dari empat   Garuda Indonesia's Technical Directorate in 1949. After more
dekade beroperasi sebagai salah satu divisi di bawah Garuda       than four decades of operating as one of the divisions under
Indonesia, GMF berubah menjadi Strategic Business Unit Garuda     Garuda Indonesia, GMF was transformed into the Strategic
Maintenance Facility (SBU-GMF) yang menangani seluruh             Business Unit Garuda Maintenance Facility (SBU-GMF), which
aktivitas perawatan armada Garuda Indonesia.                      handles all maintenance activities of Garuda Indonesia's fleet.

Pada tahun 2002, Garuda Indonesia melakukan ‘spin-off’            In 2002, Garuda Indonesia spin-offs SBU-GMF into a subsidiary.
terhadap SBU-GMF. Peristiwa ini membuat Perseroan resmi           This event made the Company officially become a subsidiary of
menjadi anak perusahaan Garuda Indonesia dengan nama PT           Garuda Indonesia, using PT Garuda Maintenance Facility Aero
Garuda Maintenance Facility Aero Asia melalui Akta Pendirian      Asia as its name, under the Establishment Deed No. 93 of April
No. 93 tanggal 26 April 2002 oleh Notaris Arry Supratno, S.H.     26, 2002, made by Notary Arry Supratno, S.H. The deed has been
Akta tersebut telah diubah dengan perubahan terakhir melalui      changed several times with the latest amendment through the
Akta Pernyataan Keputusan Rapat Perubahan Anggaran Dasar          Deed of Meeting Resolution of Articles Association Amendment
Nomor 2 tanggal 2 September 2022 dan susunan pengurus             Number 2 dated September 2, 2022, and its final management,
terakhir yang tercantum dalam Akta Pernyataan Keputusan           which stipulated in the Deed of Meeting Resolution Number
Rapat Nomor 16 tanggal 28 Juni 2023 oleh Notaris Shanti           16 dated June 28, 2023, made by Notary Shanti Indah Lestari,
Indah Lestari, S.H., M.Kn.                                        S.H., M.Kn.

PERKEMBANGAN USAHA                                                BUSINESS DEVELOPMENT
Sebagai MRO terdepan di Indonesia, GMF memiliki perawatan         As the leading MRO in Indonesia, GMF owns Line Maintenance
Line Maintenance hingga Overhaul, perawatan dan perbaikan         including Overhaul, maintenance and repair of engines and
mesin serta komponen, proses modifikasi, dan perbaikan kabin.     component, modification processes, and cabin refurbishment.
Perseroan terus memperkuat bisnis utamanya dengan sejumlah        The Company continuously strengthens its core business by
penambahan lini perawatan dan berbagai fasilitas berstandar       adding a number of additional maintenance services and various
internasional.                                                    international standard facilities.

PENAWARAN UMUM PERDANA                                            INITIAL PUBLIC OFFERING

GMF resmi menjadi emiten pertama industri MRO di Indonesia        GMF officially became the first issuer of the MRO industry
yang melakukan Penawaran Umum Perdana (Initial Public             in Indonesia to conduct an Initial Public Offering (IPO) to the
Offering/IPO) kepada publik pada tanggal 2 Oktober 2017 dan       public on October 2, 2017, and its shares were officially listed
secara resmi sahamnya tercatat di Bursa Efek Indonesia pada       on the Indonesia Stock Exchange on October 10, 2017. This
tanggal 10 Oktober 2017. Momentum tersebut menjadi tonggak        momentum became an important milestone for the Company to
sejarah penting bagi Perseroan untuk semakin mengukuhkan          further strengthen GMF's position to become the Most Valuable
posisi GMF untuk menjadi Most Valuable MRO Company.               MRO Company.

INFORMASI AKTA PENDIRIAN DAN                                      INFORMATION ON DEED OF ESTABLISHMENT
ANGGARAN DASAR TERAKHIR                                           AND THE LATEST ARTICLES OF ASSOCIATION

Akta Pendirian No. 93 tanggal 26 April 2002 oleh Notaris Arry     The Deed of Establishment No. 93 of April 26, 2002, made by
Supratno, S.H. Akta tersebut telah diubah dengan perubahan        Notary Arry Supratno, S.H. The deed has been changed several
terakhir melalui Akta Pernyataan Keputusan Rapat Perubahan        times with the latest amendment through the Deed of Meeting
Anggaran Dasar Nomor 2 tanggal 2 September 2022 dan susunan       Resolution of Articles Association Amendment Number 2 dated
pengurus terakhir yang tercantum dalam Akta Pernyataan            September 2, 2022, and its final management, which stipulated
Keputusan Rapat Nomor 16 tanggal 28 Juni 2023 oleh Notaris        in the Deed of Meeting Resolution Number 16 dated June 28,
Shanti Indah Lestari, S.H., M.Kn.                                 2023, made by Notary Shanti Indah Lestari, S.H., M.Kn.




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                                                                                                                                                                 Company Profile




          JEJAK LANGKAH GMF
          Milestones


                                                                                                                                                       Penambahan dua bidang
                                                                                                                                                       usaha baru, yaitu SBU
                                                        Berawal dari Divisi                                              Spin-Off menjadi Anak         Engine Maintenance
                 Pertama kali dibentuk                  Maintenance &                     Berubah menjadi                Perusahaan dengan nama        dan SBU IGTE, serta
                 sebagai Direktorat Teknik              Engineering (M&E)                 Strategic Business Unit        PT GMF AeroAsia.              pembangunan Hangar 4.
                 Garuda Indonesia                       Garuda Indonesia.                 (SBU) GMF.                     Spin-Off and became           Developed SBU Engine
                 Established as a Directorate           Started to operate as the         Becoming a Strategic           a Subsidiary under            Maintenance and SBU
                 of Engineering of Garuda               Division of Maintenance           Business Unit GMF (SBU-        the name of PT GMF            IGTE as two new business
                 Indonesia.                             & Engineering (M&E) of            GMF).                          AeroAsia.                     units and constructing
                                                        Garuda Indonesia.                                                                              Hangar 4.



                                                   1949                                                              2002
               1949                                                                      1998                                                      2013
          Dianugerahi penghargaan                                                     Melakukan penawaran                                               Mulai beroperasinya
              “Top 9 Airframe MRO”                                                     perdana saham (initial                                    Hangar 4 yang merupakan
                                                   Mengawali kerja sama              public offering) kepada                                            hangar narrow body
           oleh Aviation Week pada
                                                  strategis dalam rangka             publik sebesar 10% dari           Diresmikannya GMF           terbesar di dunia seiring
                ajang Aviation Week
                                                pengembangan bisnis di               modal ditempatkan dan          menjadi Pusat Logistik            dengan pertumbuhan
           Networks Editor’s Choice
                                                   dalam dan luar negeri.                      disetor penuh.     Berikat oleh Kementerian                 bisnis GMF dalam
                        Award 2019.
                                                         Initiated several              Conducted an Initial                     Keuangan.      mengembangkan kapasitas
               Awarded as the “Top
                                                strategic cooperation for            Public Offering (IPO) of      The Ministry of Finance               perawatan pesawat.
                9 Airframe MRO” by
                                                  business development,                shares that amounted         inaugurated GMF as a        Hangar 4 started to operate
               Aviation Week at the
                                                   both domestically and            to 10% of the Company’s       Bonded Logistics Center.         and became the world’s
            Aviation Week Networks
                                                           internationally.             issued and fully paid                                    largest hangar for narrow-
              Editor’s Choice Award
                               2019.                                                                   capital.                                  body aircraft as GMF grew
                                                                                                                                                    its aircraft maintenance
                                                                                                                                                                     capacity.



                                                    2018                                                             2016
                2019                                                                      2017                                                     2015
                  Dianugerahi penghargaan                            Modernisasi pesawat
                  “Asia MRO Airframe of The                          Hercules C130 pertama                                                           Kesepakatan konsorsium
                                                                                                                  Optimalisasi segmen
                  Year” oleh Aviation Week                           yang mencakup pengerjaan                                                        pengerjaan perawatan
                                                                                                                  usaha Jasa Kalibrasi
                  Network pada MRO Asia                              replacement center wing                                                         helikopter Bell 412
                                                                                                                  untuk perawatan
                  Pacific Awards 2020.                               box dan avionic upgrade.                                                        A consortium agreement
                                                                                                                  komponen.
                  Awarded as the “Asia-MRO                           Conducted its first Hercules                                                    for maintenance work on
                                                                                                                  Optimization of the
                  Airframe of The Year” by the                       C130 job that covered                                                           Bell helicopters 412.
                                                                                                                  Calibration Services
                  Aviation Week Network at                           the improvement of the
                                                                                                                  business segment for
                  the MRO Asia Pacific Awards                        aircraft’s replacement
                                                                                                                  component maintenance.
                  2020.                                              center wing box and avionic
n
                                                                     upgrade.



 t
e.
                                                                2021                                                                         2023
 r
               2020                                                                                       2022
 r


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                                       VISI, MISI, DAN NILAI PERUSAHAAN [C.1, F.1]
                                                                                        Vision, Mission, and Core Values [C.1, F.1]


Tahun 2023 menjadi tahun peningkatan performa Perseroan                            It was a year of improvement of the Company’s performance,
seiring dengan pertumbuhan ekonomi nasional serta pemulihan                        in line with national economic growth and aviation industry’s
industri aviasi secara umum pasca pandemi.                                         recovery after the pandemic.




                    2020                      2021                       2022                      2023                       2024

                    Strengthen Value        Imperative Business            Business                     MRO                       Equity
                     Added Services            Enhancement                Restruction               Collaboration              Improvement



                •    Project Mapping &    •     Profitability        •   Debt Restruction      •   zero COPQ              •   Implementation of
                     Prioritization             & Cashflow           •   Cost Efficiency       •   SBU Industrial             Debt Restruction
                •    Cost Efficiency &          Improvement          •   Date Quality              Solution               •   Cost Structure
                     Effectiveness        •     Focus on high            Improvement           •   Implementation of          & Profitability
                •    Profitability              margin business,     •   Innovation and            Debt Restruction           align with MRO
                     & Cashflow                 military, IGTE           Continuous            •   Increase NGA               Standard
                     Improvement          •     Additional Key           Improvement               customer Share of      •   New Kew Account
                •    Focus on high              Account Customer     •   Manpower                  Optimalization             Cutomer
                     margin business      •     IT Development           and Culture           •   Partnership with       •   Capacity
                     military & IGTE            with no/low              Development               OEM/MRO                    Development
                                                investment                                                                •   Strategic
                                                                                                                              Investment



Pada tahun 2024, GMF berada pada fase “Equity Improvement” untuk menjadi Most      In 2024, GMF was at Equity Improvement phase of its vision to become the most
Valuable MRO Company.                                                              valuable MRO Company.



Visi dan Misi Perseroan telah ditetapkan dalam Rencana                             The Company’s Vision and Mission have been outlined in the
Jangka Panjang Perusahaan (RJPP) yang disahkan tanggal                             Company’s Long-Term Business Plan (RJPP) which ratified
30 Desember 2020 yang kemudian telah disesuaikan                                   on December 30, 2020 and has been revised on September
pada 27 September 2023, menghasilkan peta strategis                                27, 2023, generating a strategic business development as a
perkembangan bisnis secara komprehensif yaitu                                      whole which reflected in the “GMF Roadmap 2022-2024”. The
“GMF Roadmap 2020-2024”. Manajemen GMF telah melakukan                             Management of GMF has reviewed the Company’s Vision and
kajian terhadap Visi dan Misi Perseroan yang dirasa masih                          Mission and felt that the content is still relevant to the current
relevan dengan kondisi bisnis saat ini.                                            business condition.




                                            VISI                                                                              MISI
                                            VISION                                                                            MISSION

                      Perusahaan                                                               Solusi Perawatan
                       MRO yang                                                             Terintegrasi dan Handal
                     Paling Bernilai                                                          Sebagai Kontribusi
                    Most Valuable MRO Company
                                                                                                 untuk Bangsa
                                                                                            Integrated and Reliable Maintenance Solution
                                                                                                   as a Contribution to the Nation



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                                                                                                                              Company Profile




     PENJELASAN VISI                                                    VISION EXPLANATION

     GMF telah mencapai salah satu target dalam pengembangan            GMF has achieved one of its targets in business development
     usaha yaitu melalui pengakuan sebagai global player MRO            by gaining recognition as a global MRO player, reaching the Top
     dengan menjadi Top 10 MRO pada tahun 2019. Perjalanan              10 MRO in 2019. The Company’s journey doesn’t end there. The
     Perseroan tidak berhenti sampai di situ. Perseroan akan terus      Company is committed to further enhancing business value in the
     meningkatkan nilai usaha di mata publik, internal dan eksternal,   eyes of the public, both internally and externally, by diversifying
     dengan mengembangkan kegiatan usaha yang lebih luas dan            its business activities beyond solely relying on the aviation sector.
     tidak hanya bergantung pada sektor aviasi.

     PENJELASAN MISI                                                    MISION EXPLANATION

     Demi mewujudkan misi tersebut, GMF meyakini bahwa setiap           To achieve this mission, GMF believes that every personnel
     insan GMF wajib mematuhi ketentuan berikut:                        must comply with the following conditions:
     1. Menjamin Kualitas Pekerjaan                                     1. Ensuring Work Quality
        Membangun sistem perawatan, termasuk penjadwalan,                  Building aircraft maintenance systems, including scheduling,
        material dan produksi, serta standarisasi yang ketat untuk         materials and production, as well as strict standardization
        menjamin tidak hanya kelaikan udara setiap pesawat                 to ensure the airworthiness of each aircraft management
        terbang tetapi juga seluruh pekerjaan lain yang ditanganinya       and other projects at a reasonable cost.
        dilakukan dengan biaya yang wajar.
     2. Gigih Meningkatkan Kemampuan                                    2. Persistent Increasing Ability
        Mengembangkan kemampuan teknis dan profesional                     Developing technical and professional capabilities of
        karyawan, meningkatkan fasilitas dan peralatan demi                employees, improving facilities and equipment to serve
        melayani pelanggan untuk memperoleh alternatif                     customers to obtain the best alternative aircraft utilization
        pendayagunaan pesawat terbang terbaik yang dilakukan oleh          made by professionals with high morals and work ethics.
        tenaga profesional dengan akhlak dan etos kerja yang tinggi.
     3. Kerja sama Kelompok Serta Menghargai Kemampuan Individu         3. Group Collaboration and Respect for Individual Capabilities
        Mendorong terciptanya semangat kerja sama kelompok dan             Encourage the creation of a spirit of group cooperation and
        secara serius mengimplementasikan standar keamanan kerja           seriously implement work safety standards to ensure the
        demi menjamin keselamatan seluruh karyawan dan mencapai            safety of all employees and achieve reliable work. GMF values
        hasil kerja yang handal terpercaya. GMF menghargai dan             and recognizes the unique contributions of each individual
        menyadari kontribusi unik setiap individu serta berupaya           and strives to create a climate of freedom to politely submit
        menciptakan iklim kebebasan untuk menyampaikan saran               advice and feedback.
        dan umpan balik dengan santun dan beradab.
     4. Peduli Terhadap Kebutuhan Pelanggan                             4. Caring About Customer Needs
        Melalui kerja sama yang erat dan penuh kepedulian terhadap         Through close and caring collaboration with customer needs
        kebutuhan pelanggan serta standar kerja yang tinggi, GMF           and high work standards, GMF is able to produce alternative
        mampu menghasilkan alternatif solusi perawatan pesawat             aircraft maintenance solutions that are reliable while still
        terbang yang handal dengan tetap memenuhi standar aturan           meeting applicable regulatory standards.
        yang berlaku.
     5. Menjadi Warga Usaha yang Baik                                   5. Become a Good Business Citizen
        Menyadari bahwa kewajiban dan tanggung jawab sebagai               Recognize that the obligations and responsibilities as good
        warga usaha yang baik mencakup lingkungan di mana GMF              business citizens include the environment in which GMF
        beroperasi dan komunitas dunia yang lebih besar. GMF               operates and the larger global community. GMF strives to
        berupaya dengan sungguh-sungguh mengimplementasikan                seriously implement mutually beneficial principles, especially
        prinsip-prinsip yang saling menguntungkan, khususnya dalam         in terms of corporate governance, health, and education.
        hal tata kelola perusahaan, kesehatan, dan pendidikan.




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NILAI PERUSAHAAN                                                         CORPORATE VALUES

Berdasarkan isi Surat Edaran Menteri BUMN Nomor: SE-7/                   Based on the contents of the Circular Letter of the Minister of
MBU/07/2020 tanggal 1 Juli 2020 yaitu setiap BUMN, anak                  State-Owned Enterprise (SOE) Number: SE-7/MBU/07/2020
perusahaan, dan perusahaan afiliasinya berkewajiban untuk                dated July 1, 2020, every SOE, its subsidiaries, and affiliated
menerapkan Nilai-Nilai Utama (Core Values) Sumber Daya                   companies are obliged to implement the Core Values of SOE
Manusia BUMN, yang disebut AKHLAK, menjadi Budaya                        Human Resources, which is called AKHLAK, become the
Perusahaan (Corporate Culture). Sebagai anak usaha Badan                 Corporate Culture. Therefore, as a subsidiary of the SOE, GMF
Usaha Milik Negara (BUMN), GMF telah mengadopsi AKHLAK                   has adopted the values of AKHLAK as the Corporate Values
sebagai Nilai Inti Perusahaan sejak 2020 hingga saat ini.                from 2020 until this moment.

                                                                  Amanah
                                                                Trustworthy


            Memegang teguh kepercayaan yang diberikan
          dengan berperilaku dan bertindak selaras dengan                       Being accountable and have the integrity to do what was
         perkataan, menjadi seseorang yang dapat dipercaya                      spoken, being someone who can be trusted and have the
          dan bertanggung jawab, dan bertindak jujur serta                       responsibility, act honestly, always adhere to moral and
         berpegang teguh kepada nilai moral dan etika secara                                           ethical values.
                             konsisten.


                                                                Kompeten
                                                                Competent
            Memegang teguh kepercayaan yang diberikan
                                                                                Never stop learning and improving, always seek to improve
          dengan berperilaku dan bertindak selaras dengan
                                                                                abilities/competencies with current trend, being someone
         perkataan, menjadi seseorang yang dapat dipercaya
                                                                                  who can be trusted only because of his performance,
          dan bertanggung jawab, dan bertindak jujur serta
                                                                                and deliver a performance that is satisfactory and making
         berpegang teguh kepada nilai moral dan etika secara
                                                                                                  splendid achievement.
                             konsisten.


                                                                 Harmonis
                                                                 Harmony
           Saling peduli dan menghargai perbedaan yang
            diwujudkan dalam bentuk berperilaku saling                           Care for others and value differences by always helping
        membantu dan mendukung sesama insan organisasi                           and supporting others within the organization and the
        maupun masyarakat, selalu menghargai pendapat, ide                        community, valuing the opinion of others, their ideas
        atau gagasan orang lain, serta menghargai kontribusi                      and their propositions, appreciating what others have
              setiap orang dari berbagai latar belakang.                                 contributed despite their backgrounds.



                                                                   Loyal
                                                                   Loyal

        Berdedikasi dan mengutamakan kepentingan bangsa                            Dedicated and putting the interest of the state and
        dan negara dengan menunjukkan komitmen yang kuat                          the country firstly beyond others by showing a strong
          untuk mencapai tujuan, berkontribusi lebih dan rela                       commitment to achieve the objective, giving more
         berkorban dalam mencapai tujuan, dan menunjukkan                       contribution and willing to sacrifice in achieving objective,
              kepatuhan kepada organisasi dan negara.                           showing the compliance to the organization and the state.


                                                                  Adaptif
                                                                  Adaptive
          Terus berinovasi dan antusias dalam menggerakkan
         ataupun menghadapi perubahan dengan melakukan
                                                                                  Constantly innovating and excited to move or face the
          inovasi secara konsisten untuk menghasilkan yang
                                                                                  changes to innovate for the best, accepting changes,
           lebih baik, terbuka terhadap perubahan, bergerak
                                                                                   moving with agility, quick-witted, and being active in
        lincah, cepat, dan aktif dalam setiap perubahan untuk
                                                                                                   promoting changes.
           menjadi lebih baik, serta bertindak proaktif dalam
                        menggerakkan perubahan.

                                                                Kolaboratif
                                                                Collaborative

         Membangun kerja sama yang sinergis dan terbuka
        dengan berbagai pihak, mendorong terjadinya sinergi                     Collaborating openly with others, pushing to synergize for
         untuk mendapatkan manfaat dan nilai tambah, dan                         added benefits and values to achieve common goals.
            bersinergi untuk mencapai tujuan bersama.




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                                                                                                                           Company Profile




     LOGO PERUSAHAAN
     Company Logo




                       Primary Element                                 Primary Element                   Primary Element
                       Garuda Indonesia Logogram                       GMF AeroAsia Logotype             Affiliation Signature




     Logo GMF AeroAsia dirancang dengan membawa nuansa                The logo of GMF AeroAsia is designed using the identity of
     identitas Garuda Indonesia, sebagai Perusahaan Induk, dengan     Garuda Indonesia, the Parent Company, with more than five
     rekam jejak selama lebih dari lima dekade di Indonesia.          decades of history in Indonesia.

     Logo GMF terdiri dari elemen-elemen primer yang mutlak harus     The GMF logo consists of primary elements that must appear
     muncul di sebagian besar aplikasi, yaitu simbol burung Garuda,   in all communication applications and include the symbol of
     garis cakrawala biru, logotype GMF AeroAsia dan tagline Garuda   Garuda, the blue horizon line, the logotype of GMF AeroAsia,
     Indonesia Group. Aplikasi identitas Perseroan yang tepat akan    and Garuda Indonesia Group's tagline. A correct application of
     menciptakan sebuah standar dan konsistensi.                      the Company’s identity will create a standard and consistency.

     Logotype “GMF” adalah Avenir Book Italic, sebuah font san        The logotype of “GMF” is the Avenir Book Italic, a modern san
     serif modern untuk menggarisbawahi karakter GMF AeroAsia         serif font that underlines the dynamic character of GMF AeroAsia
     yang dinamis dan semangatnya untuk senantiasa maju dan           with its renewing, constantly progressing spirit. The “AeroAsia”
     memperbarui diri. Sedangkan “AeroAsia” disusun dalam Myriad      itself is composed in Myriad Roman, a san serif font with a
     Roman, sebuah font san serif dengan karakter yang kuat, dengan   strong character that has a curve that emphasizes the value of
     lekukan yang menekankan nilai fleksibilitas, kesantunan dalam    flexibility, politeness in service, and the value of its customers.
     pelayanan, serta nilai pelanggan.

     Simbol burung Garuda serta tagline menunjukkan afiliasi          The Garuda symbol and tagline show the affiliation of GMF
     GMF AeroAsia sebagai perusahaan pendukung Garuda                 AeroAsia, as the supporting company of Garuda Indonesia.
     Indonesia.




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                                                       PENGHARGAAN DAN SERTIFIKASI
                                                                                                   Awards and Certification


PERKEMBANGAN USAHA YANG MENDUNIA                                       GLOBAL-SCALE DEVELOPMENT

GMF merupakan perusahaan yang memberikan solusi                        GMF is a leading provider of Maintenance, Repair, and Overhaul
Maintenance, Repair and Overhaul (MRO) kepada maskapai                 (MRO) solutions for airlines in Indonesia. Renowned for its quality
penerbangan di Indonesia. Dikenal karena kualitas pelayanannya,        services, GMF offers a comprehensive range of services, from
GMF memberikan pelayanan komprehensif dari perawatan Line              Line Maintenance to Overhaul, machine and component repairs,
Maintenance hingga Overhaul, perawatan dan perbaikan mesin             modification processes, and cabin refurbishment.
serta komponen, proses modifikasi, dan cabin refurbishment.

Seiring dengan perkembangannya, bisnis GMF juga mengalami              As GMF has continued to develop, the Company’s business has
sejumlah perubahan. Dalam upayanya beradaptasi dengan                  also transformed. In response to various challenges, particularly
berbagai tantangan, terutama saat pandemi menyerang, GMF               during the pandemic, GMF has diversified its business operations
telah melebarkan sayap bisnisnya untuk menjangkau berbagai             to cover additional markets. Currently, GMF serves not only
pasar lainnya. Saat ini pelayanan GMF mencakup tidak hanya             airlines but also military & defense sectors and industrial gas
maskapai penerbangan, namun juga military & defense dan                turbine engines (IGTE).
industrial gas turbine engine (IGTE).

Portofolio bisnis yang telah terbangun sejak 2002 membuat nama         The expansion of its business portfolio since 2002 has elevated
GMF diakui secara internasional dengan berbagai pengakuan              GMF's reputation internationally, earning the Company various
internasional dan juga sertifikasi. Lebih dari pengakuan terhadap      recognitions and certifications. These accolades not only
kapasitas operasional, GMF juga mendapatkan pengakuan atas             acknowledge GMF's operational excellence but also commend
kinerja Perseroan secara keseluruhan dari aspek sosial, tata           the Company's overall performance across social, governance,
kelola, dan lain sebagainya.                                           and other aspects.

PENGHARGAAN YANG DITERIMA TAHUN                                        RECEIVED AWARDS IN 2023
2023

              Pemberi Penghargaan                            Nama Penghargaan                               Ajang Penghargaan
                     Issuer                                       Award                                            Event

 SWA Magazine                                   Indonesia Green Sustainable Companies             Indonesia Green Sustainable Company
                                                                                                  Award 2023

 WIR Group & DMID                               •   Gold Award for Brand Identity                 The BUMN 11th Branding & Marketing
                                                •   Gold Award for Brand Strategy
                                                •   Platinum Award for Global Branding and
                                                    Marketing Strategy
                                                •   The Best CMO Corporate Marketing
                                                    Performance for Mr. Andi Fahrurrozi, the
                                                    President Director of PT Garuda Maintenance
                                                    Facility Aero Asia Tbk

 BUMN Track                                     The Most Anticipated Low Activity High            Digital Information Transparency 5.0 KIP
                                                Engagement                                        BUMN Awards 2023

 MARKPLUS, CORP                                 Gold Winner of “The Most Promising Company in     BUMN Entrepreneurial Marketing Awards
                                                Tactical Marketing”




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56                                                                                                                                           Profil Perusahaan
                                                                                                                                               Company Profile




     SERTIFIKASI YANG BERLAKU HINGGA AKHIR                                              VALID CERTIFICATES UNTIL END OF 2023
     TAHUN 2023

           Tanggal Dikeluarkannya
                                                       Nama Sertifikasi                       Pemberi Sertifikasi                   Masa Berlaku
                 Sertifikasi
                                                        Certification                             Issuer                             Valid Until
               Issuance Date

       28 Desember 2021                        Directorate General of Civil            DGCA Indonesia                     28 September 2026
       December 26, 2021                       Aviation: Approved Maintenance                                             September 28, 2026
                                               Organization

       30 September 2022                       Federal Aviation Administration:        FAA                                30 September 2024
       September 20, 2022                      Approved Repair Station                                                    September 30, 2024

       24 Juli 2023                            European Union Aviation Safety          EASA                               Unlimited
       July 24, 2023                           Agency: Approved Maintenance
                                               Organization

       04 Oktober 2023                         Civial Aviation Safety Authority        CASA Australia                     31 Desember 2024
       October 4, 2023                         Australia: Approved Maintenance                                            December 31, 2024
                                               Organization

       03 Maret 2024                           Civil Aviation Authority of             CAA Malaysia                       02 Maret 2025
       March 3, 2024                           Malaysia: Approved Maintenance                                             March 1, 2025
                                               Organization

       08 Februari 2023                        Civil Aviation Authority of Thailand:   CAA Thailand                       07 Februari 2026
       February 8, 2023                        Approved Repair Station                                                    February 7, 2026

       30 Desember 2020                        Directorate General of Civil            DGCA India                         31 Desember 2025
       December 30, 2020                       Aviation: Approved Maintenance                                             December 31, 2025
                                               Organization

       30 Agustus 2023                         Civil Aviation Authority of             CAA Fiji                           Unlimited
       August 30, 2023                         Fiji Approved Maintenance
                                               Organization

       21 Agustus 2023                         Ministry of Land, Infrastructure and    MOLIT Korea                        25 Agustus 2025
       August 21, 2023                         Transport: Approved Maintenance                                            August 25, 2025
                                               Organization

       18 Oktober 2022                         Director of Civil Aviation: Approved    Bailiwick of Guernsey              17 Oktober 2024
       October 18, 2022                        Maintenance Organization                                                   October 17, 2024

       16 Oktober 2023                         Civil Aviation Authority: Approved      CAA Pakistan                       14 Agustus 2024
       October 18, 2023                        Maintenance Organization                                                   August 14, 2024

       26 Desember 2023                        Civil Aviation Authority: Approved      CAA Vietnam                        27 Desember 2024
       December 26, 2023                       Maintenance Organization                                                   December 17, 2024

       01 Desember 2023                        Civil Aviation Authority: Approved      CAA of Cayman Islands              06 September 2024
       December 1, 2023                        Maintenance Organization                                                   September 6, 2024

       15 Mei 2023                             Civil Aviation Agency Under             CAA Uzbekistan                     15 Mei 2026
       May 15, 2023                            the Ministry of Transport of the                                           May 15, 2026
                                               Republic of Uzbekistan: Approved
                                               Maintenance Organization

       16 Oktober 2023                         Civil Aviation Authority: Approved      CAA Iraqi                          15 Oktober 2024
       October 16, 2023                        Maintenance Organization                                                   October 15, 2024

       11 Oktober 2023                         Minister of Land, Infrastructure,       JCAB Japan                         24 Oktober 2025
       October 11, 2023                        Transport and Tourism: Approved                                            October 24, 2025
                                               Maintenance Organization

       08 Oktober 2023                         Civil Aviation Authority: Approved      CAA Nepal                          30 September 2024
       October 8, 2023                         Maintenance Organization                                                   September 30, 2024

       22 Februari 2023                        Civil Aviation Authority: Approved      CAA Bangladesh                     21 Februari 2024
       February 22, 2023                       Maintenance Organization                                                   February 21, 2024

       29 Juni 2022                            Civil Aviation Authority: Approved      CAA Bermuda (BCAA)                 10 Juni 2024
       June 29, 2022                           Maintenance Organization                                                   June 10, 2024

       31 Agustus 2021                         Civil Aviation Authority: Approved      CAA Philippines                    31 Agustus 2026
       August 31, 2021                         Maintenance Organization                                                   August 31, 2026




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      Tanggal Dikeluarkannya
                                                Nama Sertifikasi                  Pemberi Sertifikasi                  Masa Berlaku
            Sertifikasi
                                                 Certification                        Issuer                            Valid Until
          Issuance Date

 11 Juli 2023                           Civil Aviation Agency: Approved      CAA Kyrgyzstan                  11 Juli 2024
 July 11, 2023                          Maintenance Organization                                             July 11, 2024

 2020                                   Civil Aviation Authority: Approved   CAA Moldova                     Expiry date refers to EASA (for B747
                                        Maintenance Organization                                             refers to DGCA Indonesia)

 25 Maret 2015                          Ministry of Transport and            MTCR Belarus                    Expiry date refers to FAA
 March 25, 2015                         Communications of the Republic
                                        of Belarus: Approved Recognition
                                        Statement

 24 Februari 2011                       General Department of Ciivil         GDCA Armenia                    Expiry date refers to EASA
 February 24, 2011                      Aviation: Approved Maintenance
                                        Technical Organization

 05 Oktober 2022                        Civil Aviation Authority: Approved   San Marino CAA                  Expiry date refers to FAA
 October 05, 2022                       Maintenance Organization

 08 Desember 2023                       State Civil Aviation Agency:         SCAA Azerbaijan                 07 Desember 2025
 December 08, 2023                      Approved Maintenance                                                 December 7, 2025
                                        Organization

 26 November 2023                       Civil Aviation Authority: Approved   NCAA Nigeria                    25 November 2025
 November 26, 2023                      Maintenance Organization                                             November 25, 2025

 27 Desember 2023                       Civil Aviation Authority: Approved   CAA Egypt                       27 Februari 2025
 December 27, 2023                      Maintenance Organization                                             February 27, 2025

 20 Desember 2023                       Civil Aviation Authority: Approved   CAA Oman                        01 November 2025
 December 20, 2023                      Maintenance Organization                                             November 1, 2025




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58                                                                                                                                          Profil Perusahaan
                                                                                                                                              Company Profile




     KEANGGOTAAN ASOSIASI [C.5]
     Membership in Associations [C.5]


              Organisasi                                                       Deskripsi                                                  Posisi GMF
              Organization                                                    Description                                                 GMF Position

                                       Himpunan dari industri penerbangan yang bergerak dalam bidang perawatan pesawat               Anggota
                                       udara Indonesia. Anggota IAMSA merupakan perusahaan/instansi pemegang sertifikasi             (sejak tahun 1990)
                                       AMO (Approved Maintenance Organizations) dari Direktorat Kelaikudaraan dan                    Member
                                       Pengoperasian Pesawat Udara (DKPPU) Republik Indonesia.                                       (since 1990)
                                       It’s an Indonesian aviation association in the field of aircraft maintenance. IAMSA members
                                       are companies/agencies holding AMO (Approved Maintenance Organizations) certification
                                       from the Directorate General of Civil Aviation (DGCA Indonesia) of the Republic of
                                       Indonesia.
                  IAMSA

                                       ASA merupakan Asosiasi Supplier Part Pesawat. Program ini merupakan program audit             Anggota
                                       36 bulan guna mematuhi FAA Advisory Circular (AC) 00-56.                                      (sejak tahun 2016)
                                       ASA is an Aircraft Part Supplier Association. This is a 36-month audit program to comply      Member
                                       with the FAA Advisory Circular (AC) 00-56.                                                    (since 2016)

                   ASA

                                       AEI merupakan organisasi perusahaan publik atau emiten penerbit saham dan obligasi            Anggota
                                       tercatat/listed/terdaftar di Bursa Efek Indonesia.                                            (sejak tahun 2018)
                                       AEI is an organization for public company or listed issuer of shares and bonds registered     Member
                                       on the Indonesian Stock Exchange.                                                             (since 2018)




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     BIDANG USAHA, PRODUK DAN JASA, JARINGAN USAHA
                                           [C.4, 2-6]
                                      Business Field, Products and Services, Business Network [C.4, 2-6]
KEGIATAN USAHA                                                                BUSINESS ACTIVITIES

                            Kegiatan Usaha Berdasarkan Akta Anggaran Dasar Nomor 2 tanggal 2 September 2022
                                                             Pasal 3 Ayat (1) dan Ayat (2)
                              Business Activities based on Articles of Association Number 2, dated September 2, 2022
                                                      Article 3 Paragraph (1) and Paragraph (2)

                                                               Kegiatan Usaha Utama
                                                               Main Business Activities

 Industri pengolahan yaitu menjalankan usaha dalam bidang reparasi          Processing industry, running a business in the fields of aircraft maintenance;
 pesawat terbang; industri pesawat terbang dan perlengkapannya;             Industry of aircraft and its equipment; repair of electric motors, generators
 reparasi motor listrik; generator dan transformator; Reparasi alat ukur,   and transformers; Repair of measuring instruments, test equipment and
 alat uji dan peralatan navigasi dan pengontrol; Reparasi mesin untuk       navigation equipment and controllers; machine repair for general purposes.
 keperluan umum.

 Perdagangan besar dan eceran, reparasi dan perawatan mobil dan             Wholesale and retail, repair and maintenance of cars and motorbikes,
 sepeda motor, yaitu menjalankan usaha dalam bidang perdagangan             running a business in wholesale trade of various kinds of goods; wholesale
 besar berbagai macam barang; perdagangan besar alat transportasi           trade in air transportation equipment, spare parts and equipment;
 udara; suku cadang dan perlengkapannya; Perdagangan besar                  wholesale trade of electronic parts; wholesale of machinery, tools and
 suku cadang elektronik; Perdagangan besar mesin, peralatan dan             equipment.
 perlengkapannya.

 Pengangkutan dan pergudangan yaitu menjalankan usaha dalam                 Transportation and warehousing, running a business in warehousing and
 bidang pergudangan dan penyimpanan; aktivitas bounded warehousing          transportation; warehousing and storage; bounded warehousing activities
 atau wilayah Kawasan berikat; angkutan multimoda; aktivitas                or bonded areas; multimodal transport; airport activities; transportation
 kebandarudaraan; jasa pengurusan transportasi (JPT).                       management services (JPT).

 Aktivitas profesional, ilmiah dan teknis, yaitu menjalankan usaha dalam    Professional, scientific, and technical activities in engineering services
 bidang aktivitas konsultasi transportasi; penelitian dan pengembangan      including but not limited to transportation consultation; technology and
 teknologi dan rekayasa; jasa inspeksi periodic; jasa kalibrasi atau        engineering research and development; periodic inspection services;
 metrology.                                                                 calibration or metrology services;

 Aktivitas penyewaan dan sewa guna usaha tanpa hak opsi,                    Leasing without option rights, employment, travel agents and other
 ketenagakerjaan, agen perjalanan dan penunjang usaha lainnya, yaitu        supporting activities, running a business in the service sector, especially
 menjalankan usaha dalam bidang aktivitas penyewaan dan sewa guna           leasing services and leasing without options for engines, equipment and
 usaha tanpa hak opsi mesin, peralatan dan barang berwujud lainnya          other tangible goods that cannot be classified elsewhere.
 yang tidak dapat diklasifikasikan di tempat lain.

 Pendidikan, yaitu menjalankan usaha dalam bidang Pendidikan swasta.        Education, namely running a business in the field of private education

                                                             Kegiatan Usaha Penunjang
                                                            Supporting Business Activities

 Melakukan penyediaan jasa konsultan dan tenaga ahli di bidang              Providing consultation services and experts in aircraft, component, and
 perawatan pesawat udara, lomponen, dan mesin termasuk namun                engine maintenance, including but not limited to transportation consulting.
 tidak terbatas pada aktivitas konsultasi transportasi.

 Melakukan pelatihan di luar dari sebagaimana disebut dalam ayat 2          Conduct training other than those referred to in paragraph 2 letter f of
 huruf f pasal yang terdapat di Anggaran Dasar Pasal 3.                     this Articles of Association Article 3.


PRODUK DAN JASA                                                               PRODUCTS AND SERVICES
GMF mengelompokkan jenis usahanya ke dalam dua segmen                         GMF has two operations segments, including (1) Reparation
yaitu (1) Reparasi dan Overhaul, dan (2) Perawatan.                           and Overhaul, and (2) Maintenance.




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                                                                      Reparasi dan Overhaul
                                                                      Reparation and Overhaul

       Airframe                       GMF memiliki tiga hangar untuk melakukan:                          GMF owns three hangars to perform:
                                      • Heavy check rutin;                                               • Routine heavy checks;
                                      • Modifikasi besar;                                                • Major modifications;
                                      • Pengecatan eksterior pesawat;                                    • Aircraft exterior painting;
                                      • Finishing dekoratif, cabin refurbishment, perbaikan struktur     • Decorative finishing, cabin refurbishment,
                                        besar;                                                             extensive structural repairs;
                                      • Perawatan dan overhaul pesawat.                                  • Aircraft maintenance and overhaul.

                                      Jenis pesawat yang telah mendapatkan sertifikasi (DKPPU,           The types of aircraft that have been certified (DKPPU,
                                      FAA, EASA):                                                        FAA, EASA):
                                      A320, A320NEO, A330, B737CL, B737NG, B737MAX, B747,                A320, A320NEO, A330, B737CL, B737NG, B737MAX,
                                      B777, CRJ1000, ATR72.                                              B747, B777, CRJ1000, ATR72.

       Engine                         GMF memiliki Engine Workshop & Engine and APU Test Cell            GMF owns Engine Workshop and Engine & APU Test
                                      untuk merawat mesin pesawat dan Auxilliary Power Unit (APU)        Cell to perform aircraft engine maintenance and
                                      seperti:                                                           Auxiliary Power Units (APUs) such as:
                                      • Mesin CFM56-3 dan APU GTCP 85 yang terpasang di                  • The CFM56-3 and GTCP 85 APU engine type on
                                         pesawat seri B737CL;                                               the B737CL series aircraft;
                                      • Mesin CFM56-7 dan APU GTCP131-9B yang terpasang di               • The CFM56-7 and GTCP131 APU 9B engine type
                                         pesawat seri B737NG;                                               on the B737NG series aircraft;
                                      • Mesin CFM56-5 dan APU GTCP131-9A yang terpasang di               • The CFM56-5 and GTCP131-9A APU engines on
                                         pesawat seri A320;                                                 A320;
                                      • Mesin PW100 yang terpasang di pesawat ATR 42/72;                 • The PW100 engine on the ATR 42/72 aircraft;
                                      • APU GTCP331-350 untuk pesawat seri A330.                         • The APU GTCP331-350 series for A330 aircraft.

       Component                      Unit layanan Component dapat melakukan repair and overhaul         The Component Services Unit capabilities include
                                      untuk instrumen pesawat, kontrol elektronik, radar dan navigasi,   repair and overhauls for aircraft instruments,
                                      flight data recorders dan gyros, serta Wheel Brake & Landing       electronic controls, radars and navigation, flight data
                                      Gear. GMF juga dapat menjaga ketersediaan pasokan material         recorders and gyros, and Wheel Brake & Landing Gear.
                                      untuk pelanggan melalui layanan component pooling.                 GMF can also maintain the availability of material
                                                                                                         supply for customers through component pooling
                                                                                                         services.

                                      GMF memiliki sejumlah workshop: Avionics Workshop, Electro         GMF has several workshops such as Avionics
                                      Mechanical and Oxygen Workshop, Wheel Brake & Landing              Workshop, Electro Mechanical and Oxygen Workshop,
                                      Gear Workshop, serta Calibration and Non-Destructive Test          Wheel Brake & Landing Gear Workshop, Calibration
                                      (NDT) Workshop. GMF dapat melakukan perawatan komponen             and Non Destructive Test (NDT) Workshop. GMF can
                                      untuk pesawat seri B737, B747, A320, A330, B777, CRJ1000,          offer component maintenance for B737, B747, A320,
                                      dan ATR72.                                                         A330, B777, CRJ1000, and ATR72 series aircraft.

                                      Workshop dan laboratorium GMF dilengkapi dengan peralatan          GMF's workshops and laboratories are equipped
                                      testing, termasuk ATEC (Automatic Test Equipment Complex),         with high-tech testing equipment including ATEC
                                      IRIS (Integrated Radio Instrument System), INS (Inertial           (Automatic Test Equipment Complex), IRIS (Integrated
                                      Navigation System), IDG (Integrated Drive Generator) dan           Radio Instrument System), INS (Inertial Navigation
                                      Universal Testing Equipments.                                      System), IDG (Integrated Drive Generator), and
                                                                                                         Universal Testing Equipments.

       Military & Defense             Pada Segmen Military & Defense, Perseroan telah dan                In Military & Defense, the Company has owned and
                                      sedang mengembangkan beberapa produk yang mencakup                 are developing several products that cover Airframe,
                                      kategori Airframe, Engine, Component serta Produk/Layanan          Engine, Component, and other Supporting Products/
                                      Pendukungnya.                                                      Services.

                                      Beberapa produk/layanan segmen Military & Defense yang             The main products/services in Military & Defense
                                      menjadi prioritas di antaranya adalah kapabilitas untuk            are maintaining and modifying C130H, C130J
                                      perawatan dan modifikasi C130H, perawatan C130J, T56 Engine        maintenance, MRTT Conversion, T56 Engine
                                      Overhaul, serta perawatan pesawat dan mesin untuk fighter          Overhaul, aircraft and engine maintenance for fighter
                                      aircraft dengan melihat perkembangan dari peluang pasar.           aircraft. The Company’s products/services include
                                      Sementara itu, produk/layanan yang dimiliki oleh Perusahaan        maintenance and modification of Boeing Business Jet,
                                      saat ini antara lain mencakup perawatan dan modifikasi Boeing      Overhaul Engine CFM56-3 operated by military/state
                                      Business Jet, Overhaul Engine CFM56-3 yang dioperasikan            institutions, Overhaul APU GTCP 85, manufacturing
                                      oleh institusi militer/kenegaraan, Overhaul APU GTCP 85, serta     and maintenance of several types of Ground Support
                                      manufaktur dan perawatan untuk beberapa jenis Ground               Equipment.
                                      Support Equipment.




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                                                                    Perawatan
                                                                    Maintenance

 Line Maintenance               Line Maintenance dapat dipergunakan untuk penerbangan           Line Maintenance can be used for domestic and
 & Technical Ground             domestik dan internasional di Bandar Udara Soekarno Hatta.      international flights at Soekarno-Hatta Airport.
 Handling
                                Line Maintenance menangani perawatan pesawat seperti            Line Maintenance handles aircraft maintenance such
                                Pre-Flight Check, Transit Check, Daily Check, A Check           as Pre-Flight Check, Transit Check, Daily Check, A
                                (perawatan sampai dengan 600 jam terbang), serta berbagai       Check (maintenance up to 600 flight hours), and
                                jenis perawatan lainnya.                                        other maintenance types.

                                GMF dapat melakukan perawatan ringan pada pesawat seri          GMF can perform light maintenance on B737,
                                B737, B737MAX, B747, B777, B787, A320, A320NEO, A330,           B737MAX, B747, B777, B787, A320, A320NEO, A330,
                                A330NEO, A350, CRJ1000, dan ATR72. GMF juga menangani           A330NEO, A350, CRJ1000, and ATR72 series. GMF
                                layanan overnight transit dan Emergency AOG (Aircraft on        also handles overnight transit and emergency AOG
                                Ground).                                                        (Aircraft on Ground) services.

                                GMF juga memiliki fasilitas MCC (Maintenance Control            GMF also has the MCC (Maintenance Control Center)
                                Center) untuk memantau operasional perawatan pesawat            facility to monitor aircraft maintenance operations
                                udara guna mengurangi perawatan yang tidak terjadwal dan        to reduce unscheduled maintenance and technical
                                keterlambatan teknis.                                           delays.

                                Line Maintenance GMF didukung oleh 68 line station di seluruh   Line Maintenance has the support of 68 line stations
                                Indonesia.                                                      throughout Indonesia.




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     WILAYAH OPERASIONAL                                             OPERATIONAL AREA

     GMF merupakan perusahaan penyedia jasa perawatan dan            GMF is a company that provides an integrated aircraft
     perbaikan pesawat terintegrasi dengan area pelayanan di 67      maintenance and repair in all over 67 Domestic Outstation
     Outstation Line Maintenance Domestik. Sampai dengan akhir       Line Maintenance. Until the end of 2023, GMF has been serving
     tahun 2023, GMF melayani pelanggan di berbagai belahan          its customers worldwide in 5 (five) major continents in more
     dunia meliputi 5 (lima) benua dan lebih dari 50 negara.         than 50 countries.




                                 BTJ
                  SBG
                                               LSW             TNJ
                                                     KNO BTH                                                                                        TRK
                                                       DTB                                            PNK         PSU              PKY
           MEQ
                                                             PKU                                            SQG                                    BEJ
          FLZ
                       GNS


                                                                               PGK
                                                                                           TJQ
                             PDG
                             DJB
                             PLM

                                                       BKS
                                                                                     CGK             KTG
                                                                                                                                      BDJ
                                                       TKG                                                  SRG
                                                                                                                                SUB
                                                                                                                                                    UPG

                                                                            HLP
                                                                                        BDO
                                                                                                    JOG
                                                                                                      SOC
                                                                                                              MLG           JBB BWX          DPS
                                                                                                                                                     SW




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K
                                                MDC           TTE
                              MDC                                   KAU
                                                                                  SOQ         MKW         BKI
       PLW
                               LUW
                                                                                                                                        DJJ




                                    KDI
                                PUM

                                          TQQ           LAH
                                                                          AMQ
            LWU               BUW
G
                        RAQ


                                                                                        KNG
                                                                                                    NBX

                                                                                LUV                             TIM
WQ    LBJ
                         MOF
TMC               ENE
                                    KOE                               SXK                                                       MKQ




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     PERUBAHAN SIGNIFIKAN [C.6]
     Significant Changes [C.6]




     Tidak terdapat perubahan dalam aktivitas usaha yang             There were no changes in the Company’s business activities
     dilakukan Perseroan pada tahun 2023 dibandingkan dengan         in 2023 compared to the previous year. There were no other
     tahun sebelumnya. Tidak terdapat peristiwa signifikan lainnya   significant events in terms of business mergers or closure or
     mengenai penggabungan usaha maupun penutupan atau               opening of branches throughout 2023.
     pembukaan kantor cabang pada sepanjang tahun 2023.




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     STRUKTUR ORGANISASI
     Organization Structure


     Pada tahun 2023, GMF telah memutakhirkan Struktur Organisasi    In 2023, GMF has updated the Parent Organization Structure
     Induk berdasarkan Surat Keputusan Direktur Utama No. DT/        based on President Director’s Decree No. DT/SKEP-5009/23
     SKEP-5009/23 tanggal 02 Agustus 2023 tentang Organisasi         dated August 2, 2023, concerning the Parent Organization of
     Induk PT Garuda Maintenance Facility Aero Asia Tbk.             PT Garuda Maintenance Facility Aero Asia Tbk.




                                                                       Direktur Utama
                                                                            CEO




                     TR
             SBU Defense Industry




                                                                 DF                                      DL
                                                         Direktur Keuangan                    Direktur Line Operation
                                                         Director of Finance                 Director of Line Operation



                                                                    TA                                       TL
                                                     Financial & Management Account-                  Line Maintenance
                                                                    ing

                                                                                                           TF
                                                                   TX                              Maintenance Planning
                                                          Treasury Management

                                                                                                            TE
                                                                                                    Engineering Services




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                                                                                           TQ
                                                                                  Quality Assurance &
                                                                                         Safety

                                                                                              TI
                                                                                        Internal Audit

                                                                                         TD
                                                                                 Corporate Strategy &
                   DB                                       DC                  Business Development
 Direktur Business & Base Oper-                 Direktur Human Capital &
              ation                                 Corporate Affairs
 Director of Business & Base Opera-              Director of Human Capital &                TP
                                                      Corporate Affairs
                tions                                                               Sales & Marketing

                                                                                          TS
              TB                                           TH                    Corporate Secretary &
   Widebody Base Maintenance                    Human Capital Management
                                                                                         Legal

             TJ                                            TU
 Narrowbody Base Maintenance                     Corporate Affairs & HSE


                 TV                                         TM
           Engine Services                      Material & Logistic Services


               TC
        Component Services


                TZ
Aircraft Support & Power Services




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     PROFIL DEWAN KOMISARIS
     Board of Commissioners’ Profile


     Pada tahun 2023, Rapat Umum Pemegang Saham (“RUPS”)                         In 2023, the General Meeting of Shareholders ("GMS") has
     telah menyetujui perubahan susunan Dewan Komisaris GMF                      approved changes to the composition of GMF’s Board of
     melalui RUPS Tahunan Tahun Buku 2022 yang diselenggarakan                   Commissioners through the 2022 Annual GMS held on June 28,
     pada tanggal 28 Juni 2023, sebagaimana telah dituangkan dalam               2023, as stated in the Deed of Meeting Resolution Statement
     Akta Pernyataan Keputusan Rapat Nomor 16 tanggal 28 Juni                    Number 16 dated June 28, 2023, by the Notary Shanti Indah
     2023 oleh Notaris Shanti Indah Lestari, S.H., M.Kn.                         Lestari, S.H., M.Kn.

     Berikut adalah informasi kronologi perubahan komposisi                      The following information discloses the chronology of changes
     anggota Dewan Komisaris sepanjang tahun 2023 hingga pada                    in the composition of the Board of Commissioners’ members
     saat Laporan Terintegrasi ini ditandatangani dan diterbitkan.               throughout 2023 until this Integrated Report was signed and
     Disampaikan pula informasi dari profil anggota Dewan Komisaris              published. The following profiles of the Board of Commissioners’
     yang menjabat pada saat Laporan Terintegrasi ini ditandatangani             members are those who served at the time this Integrated
     dan diterbitkan.                                                            Report was signed and published.


                                              Komposisi Anggota Dewan Komisaris Sebelum Perubahan
                                           Composition of the Board of Commissioners’ Members Prior to Changes
       Komisaris Utama                                        : Rahmat Hanafi
       President Commissioner

       Komisaris                                              : Maria Kristi Endah Murni
       Commissioner

       Komisaris Independen                                   : Ali Gunawan
       Independent Commissioner

       Komisaris Independen                                   : Gatot Sulistiantoro Dewa Broto
       Independent Commissioner

       Komisaris Independen                                   : Agit Atriantio
       Independent Commissioner



                                               Komposisi Anggota Dewan Komisaris Setelah Perubahan
                                            Composition of the Board of Commissioners’ Members After Changes
       Komisaris Utama                                        : Dharmadi
       President Commissioner

       Komisaris                                              : Rahmat Hanafi
       Commissioner

       Komisaris Independen                                   : Ali Gunawan
       Independent Commissioner

       Komisaris Independen                                   : Abhan
       Independent Commissioner

       Komisaris                                              : Agit Atriantio
       Commissioner




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                                                Dharmadi
                                                Komisaris Utama/Komisaris Independen | President Commissioner/Independent

                                                Periode Jabatan: 28 Juni 2023 sampai dengan penutupan RUPS tahunan ke-3
                                                yang diselenggarakan pada tahun 2026, Periode Pertama.
                                                Office Term: June 28, 2023, effective from the appointment date until the closing of
                                                the third GMS in 2026, First Period.
 Kewarganegaraan                                Indonesia
 Citizenship

 Usia per 31 Desember 2023 | Tempat             70 tahun | Bondowoso, 14 Agustus 1953
 Tanggal Lahir                                  70 years old | Bondowoso, August 14, 1953
 Age as of December 31, 2023 | Place of Birth
 and Date

 Domisili                                       Kota Tangerang
 Domicile

                                                Diangkat sebagai Komisaris Utama berdasarkan       He was appointed as the President
                                                Keputusan RUPS Tahunan pada tanggal 28 Juni        Commissioner based on the Annual GMS
                                                2023 dan dinyatakan dalam Akta No. 16 tanggal      Resolution dated June 28, 2023, which was
 Dasar Hukum Penunjukan
                                                28 Juni 2023 yang dibuat di hadapan Shanti         ratified in the Deed No. 16 dated June 28, 2023,
 Legal Basis of Appointment
                                                Indah Lestari, S.H., M.Kn., Notaris di Kabupaten   made before Shanti Indah Lestari, S.H., M.Kn., a
                                                Tangerang. Jabatan ini merupakan periode           Notary in Tangerang City. This is his first term
                                                pertama dalam jajaran Dewan Komisaris GMF.         serving as Commissioner of GMF.

                                                •   Magister Manajemen Bisnis Internasional dari   •   Master in International Business
                                                    Sekolah Tinggi Manajemen PPM (1995)                Management from PPM Business School
 Riwayat Pendidikan
                                                •   Sarjana Teknik dari IKIP Bandung (1993)            (1995);
 Educational Background
                                                                                                   •   Bachelor of Engineering from IKIP Bandung
                                                                                                       (1993).

                                                •   CEO Flybest Flight Academy (2017-2022);        •   CEO of Flybest Flight Academy (2017-2022);
 Pengalaman Kerja                               •   Komisaris Indonesia AirAsia (2013-2017);       •   Commissioner of Indonesia AirAsia (2013-
 Work Experience                                                                                       2017);
                                                •   CEO Indonesia AirAsia (2007-2014).             •   CEO of Indonesia AirAsia (2007-2014).

                                                •   Anggota Komite Nominasi dan Remunerasi         •   Member of the Nomination and
                                                    Perseroan (2023-sekarang);                         Remuneration Committee of the Company
                                                                                                       (2023-present);
 Jabatan Rangkap                                •   Wakil Sekretaris Jenderal Indonesia            •   Deputy Secretary General of the Indonesia
 Concurrent Positions                               National Air Carrier Association (INACA)           National Air Carrier Association (INACA)
                                                    (2022-sekarang);                                   (2022-present);
                                                •   Anggota Dewan Komisaris Flybest Flight         •   Member of the Board of Commissioners of
                                                    Academy 2022-sekarang).                            the Flybest Flight Academy (2022-present).

 Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi        •   He does not have any affiliation with other
 Perseroan                                          dengan anggota Dewan Komisaris, Direksi,           members of the Board of Commissioners,
 Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                Board of Directors, and major shareholders
 the Company                                                                                           of the Company
                                                •   Beliau tidak memiliki saham Perseroan.         •   He does not own any Company’s shares.




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                                                      Rahmat Hanafi
                                                      Komisaris | Commissioner

                                                      Periode Jabatan: 28 Juni 2023 sampai dengan penutupan RUPS tahunan ke-3
                                                      yang diselenggarakan pada tahun 2026, Periode Kedua.
                                                      Office Term: June 28, 2023, effective from the appointment date until the closing of the
                                                      third GMS in 2026, Second Period.
       Kewarganegaraan                                Indonesia
       Citizenship

       Usia per 31 Desember 2023 | Tempat             57 tahun | Cirebon, 12 September 1966
       Tanggal Lahir                                  57 years old | Cirebon, September 12, 1966
       Age as of December 31, 2023 | Place of Birth
       and Date

       Domisili                                       Tangerang
       Domicile

                                                      Diangkat kembali sebagai Komisaris berdasarkan       He was reappointed as the Commissioner
                                                      Keputusan RUPS Tahunan pada tanggal 28 Juni          based on the Annual GMS Resolution on
                                                      2023 yang dinyatakan dalam Akta Pernyataan           June 28, 2023, which was ratified in the Deed
       Dasar Hukum Penunjukan                         Keputusan Rapat No. 16 tanggal 28 Juni 2023          of Meeting Resolution No. 16 on June 28, 2023,
       Legal Basis of Appointment                     yang dibuat di hadapan Shanti Indah Lestari, S.H.,   made before Shanti Indah Lestari, S.H., M.Kn,
                                                      M.Kn, Notaris di Kabupaten Tangerang. Jabatan ini    a Notary in Tangerang Regency. This is his
                                                      merupakan periode kedua dalam jajaran Dewan          second term serving as Commissioner of GMF.
                                                      Komisaris GMF.

                                                      •   Pendidikan Pasca Sarjana bidang Manajemen        •   Postgraduate Program in Management at
                                                          dari Sekolah Tinggi Ilmu Ekonomi Jakarta             the Jakarta College of Economic (2003);
       Riwayat Pendidikan                                 (2003);                                          •
       Educational Background                         •   Sarjana bidang Teknik Elektro (Sub Bidang        •   Bachelor's Degree in Electro Engineering
                                                          Teknik Komputer) dari Institut Teknologi             (Sub Field of Computer Engineering) from
                                                          Bandung (1990).                                      Bandung Institute of Technology (1990).

                                                      •   Senior Executive Project Manager MRO di          •   Senior Executive Project Manager MRO
                                                          Batam, Bintan, dan Kualanamu Perseroan               in Batam, Bintan, and Kualanamu of the
                                                          (2018-2020);                                         Company (2018-2020);
                                                      •   Direktur Line Operations Perseroan (2018);       •   Director of Line Operations of the Company
                                                                                                               (2018);
                                                      •   Direktur Base Operations Perseroan (2017-        •   Director of Base Operations of the
       Pengalaman Kerja
                                                          2018);                                               Company (2017-2018);
       Work Experience
                                                      •   VP Engine Maintenance Perseroan (2016-           •   VP Engine Maintenance of the Company
                                                          2017);                                               (2016-2017);
                                                      •   Senior VP Engine Maintenance Perseroan           •   Senior VP Engine Maintenance of the
                                                          (2015-2016);                                         Company (2015-2016);
                                                      •   VP Strategy Management Office Perseroan          •   VP Strategy Management Office of the
                                                          (2013-2015).                                         Company (2013-2015).

                                                      •   Direktur Teknik PT Garuda Indonesia (Persero)    •   Director of Engineering of PT Garuda
                                                          Tbk (2020-sekarang);                                 Indonesia (Persero) Tbk (2020-present);
       Jabatan Rangkap
                                                      •   Anggota Komite Nominasi dan Remunerasi           •   Member of the Nomination and
       Concurrent Positions
                                                          Perseroan (2020-sekarang).                           Remuneration Committee of the Company
                                                                                                               (2020-present).

       Hubungan Afiliasi & Kepemilikan Saham          •   Memiliki hubungan afiliasi dengan pemegang       •   He has an affiliation with the Company’s
       Perseroan                                          saham Perseroan karena jabatan rangkap di            shareholders due to his other position at
       Affiliate Relationship & Share Ownership of        PT Garuda Indonesia (Persero) Tbk.                   PT Garuda Indonesia (Persero) Tbk.
       the Company                                    •   Tidak memiliki saham di Perseroan.               •   He does not own any share at the
                                                                                                               Company.




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                                                Ali Gunawan
                                                Komisaris Independen | Independent Commissioner

                                                Periode Jabatan: 20 Agustus 2021, efektif menjabat sejak tanggal 16 November
                                                2021 sampai dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun
                                                2024, Periode Kedua.
                                                Office Term: August 20, 2021, effective from November 16, 2021, until the closing of the
                                                third GMS in 2021, Second Period.
 Kewarganegaraan                                Indonesia
 Citizenship

 Usia per 31 Desember 2023 | Tempat             60 tahun | Padang, 21 Juli 1963
 Tanggal Lahir                                  60 years old | Padang, July 21, 1963
 Age as of December 31, 2023 | Place of Birth
 and Date

 Domisili                                       Jakarta
 Domicile

                                                Diangkat sebagai Komisaris Independen              He was appointed as the Independent
                                                Perseroan berdasarkan Keputusan RUPS Tahunan       Commissioner based on the Annual GMS
                                                pada tanggal 20 Agustus 2021 dan berlaku efektif   Resolution on August 20, 2021, and effective
                                                sejak tanggal 16 November 2021 melalui surat       from November 16, 2021, based on the Letter
                                                Kementerian BUMN No. SR-856/MBU/11/2021            of Ministry of Stated Owned Enterprise No.
                                                tentang Persetujuan Pengangkatan Anggota           SR-856/MBU/11/2021 regarding Approval of
 Dasar Hukum Penunjukan                         Dewan Komisaris dan Direksi Anak Perusahaan PT     Appointment of Members of the Board of
 Legal Basis of Appointment                     Garuda Indonesia (Persero) Tbk yang dinyatakan     Commissioners and Directors of a Subsidiary
                                                dalam Akta Pernyataan Keputusan Rapat No.          of PT Garuda Indonesia (Persero) Tbk, which
                                                3 tanggal 26 November 2021 yang dibuat di          was ratified in the Deed of Meeting Resolution
                                                hadapan Shanti Indah Lestari SH., M.KN, Notaris    No. 3 on November 26, 2021, which was made
                                                di Kabupaten Tangerang. Jabatan ini merupakan      before Shanti Indah Lestari, S.H., M.Kn, a Notary
                                                periode kedua dalam jajaran Dewan Komisaris        in Tangerang Regency. This is his second term
                                                Perseroan.                                         serving as the Board of Commissioners of GMF.

 Riwayat Pendidikan                             Sarjana Ekonomi Akuntansi Universitas Trisakti     Bachelor in Accounting Economics from
 Educational Background                         (1994).                                            Trisakti University (1994).

                                                •   Auditor, Akuntan Publik Prasetio, Sarwoko      •   Auditor at Prasetio, Sarwoko & Sandjaja
 Pengalaman Kerja                                   & Sandjaja (Ernst &Young Indonesia) (1986-         (Ernst & Young Indonesia) (1986-2004) with
 Work Experience                                    2004) dengan jabatan terakhir sebagai              his last position as a partner.
                                                    partner.

                                                •   Ketua Komite Audit & Kebijakan Tata Kelola     •   Chairman and Member of Audit Committee
                                                    Perusahaan Perseroan (2021-sekarang);              & Corporate Governance Policy of the
 Jabatan Rangkap
                                                                                                       Company (2021-present);
 Concurrent Positions
                                                •   Group Financial Controller PT CT Corpora       •   Group Financial Controller of PT CT
                                                    (2004-sekarang).                                   Corpora (2004-present).

 Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi        •   He does not have any affiliation with other
 Perseroan                                          dengan anggota Dewan Komisaris, Direksi,           members of the Board of Commissioners,
 Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                Board of Directors, and major shareholders
 the Company                                                                                           of the Company
                                                •   Beliau tidak memiliki saham Perseroan.         •   He does not own any Company’s shares.




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                                                      Abhan
                                                      Komisaris Independen | Independent Commissioner

                                                      Periode Jabatan: 28 Juni 2023 sampai dengan penutupan RUPS tahunan ke-3
                                                      yang diselenggarakan pada tahun 2026, Periode Pertama.
                                                      Office Term: June 28, 2023, effective from the appointment date until the closing of the
                                                      third GMS in 2026, First Period.
       Kewarganegaraan                                Indonesia
       Citizenship

       Usia per 31 Desember 2023 | Tempat             55 tahun | Pekalongan, 12 November 1968
       Tanggal Lahir                                  55 years old | Pekalongan, November 12, 1968
       Age as of December 31, 2023 | Place of Birth
       and Date

       Domisili                                       Semarang
       Domicile

                                                      Diangkat sebagai Komisaris Independen                He was appointed as the Independent
                                                      berdasarkan Keputusan RUPS Tahunan pada              Commissioner based on the Annual GMS
                                                      tanggal 28 Juni 2023 dan dinyatakan dalam            Resolution dated June 28, 2023, which was
       Dasar Hukum Penunjukan                         Akta 16 tanggal 28 Juni 2023 yang dibuat di          ratified in the Deed No. 16 dated June 28, 2023,
       Legal Basis of Appointment                     hadapan Shanti Indah Lestari, S.H., M.Kn., Notaris   made before Shanti Indah Lestari, S.H., M.Kn., a
                                                      di Kabupaten Tangerang. Jabatan ini merupakan        Notary in Tangerang City. This is his first term
                                                      periode pertama dalam jajaran Dewan Komisaris        serving as Commissioner of GMF.
                                                      GMF.

                                                      •   Magister Hukum dari Universitas Islam Sultan     •   Master in Law from the Sultan Agung
       Riwayat Pendidikan                                 Agung, Semarang (2018);                              Islamic University, Semarang (2018).
       Educational Background                         •   Sarjana Hukum dari Universitas Pekalongan        •   Bachelor of Law from Pekalongan
                                                          (1991).                                              University (1991);

                                                      •   Ketua Bawaslu Indonesia (2017-2022);             •   Chair of Indonesia’s Bawaslu (2017-2022);
       Pengalaman Kerja
                                                      •   Ketua Bawaslu Provinsi Jawa Tengah (2012-        •   Chair of Central Java’s Bawaslu (2012-
       Work Experience
                                                          2017).                                               2017).

                                                      •   Anggota Komite Nominasi dan Remunerasi           •   Member of the Nomination and
                                                          Perseroan (2023-sekarang);                           Remuneration Committee of the Company
       Jabatan Rangkap
                                                                                                               (2023-present);
       Concurrent Positions
                                                      •   Pengacara di Firma Hukum ABHAN and               •   Attorney in Law Firm ABHAN and Partners
                                                          Partners (1992-sekarang).                            (1992-present).

       Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi          •   He does not have any affiliation with other
       Perseroan                                          dengan anggota Dewan Komisaris, Direksi,             members of the Board of Commissioners,
       Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                  Board of Directors, and major shareholders
       the Company                                                                                             of the Company
                                                      •   Beliau tidak memiliki saham Perseroan.           •   He does not own any Company’s shares.




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                                                Agit Atriantio
                                                Komisaris | Commissioner

                                                Periode Jabatan: 20 Agustus 2021, efektif menjabat sejak tanggal tersebut
                                                sampai dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun 2024,
                                                Periode Pertama.
                                                Office Term: August 20, 2021, effective from the appointment date until the closing of
                                                the third GMS in 2024, First Period.
 Kewarganegaraan                                Indonesia
 Citizenship

 Usia per 31 Desember 2023 | Tempat             55 tahun | Madiun, 29 April 1969
 Tanggal Lahir                                  55 years old | Madiun, April 29, 1969
 Age as of December 31, 2023 | Place of Birth
 and Date

 Domisili                                       Tangerang Selatan
 Domicile

                                                Diangkat sebagai Komisaris Independen               Appointed as Independent Commissioner
                                                Perseroan berdasarkan Keputusan RUPS Tahunan        through the Resolution of the Annual GMS on
                                                pada tanggal 20 Agustus 2021, yang dinyatakan       August 20, 2021, that has been stipulated in the
                                                dalam Akta Pernyataan Keputusan Rapat No.           Deed of of Meeting Resolutions No. 3 dated
 Dasar Hukum Penunjukan
                                                3 tanggal 26 November 2021 yang dibuat              November 26, 2021, drawn up before Shanti
 Legal Basis of Appointment
                                                dihadapan Shanti Indah Lestari SH., M.KN, Notaris   Indah Lestari SH., M.KN, a Notary in Tangerang
                                                di Kabupaten Tangerang. Jabatan ini merupakan       Regency. This is his first term serving as the
                                                periode pertama dalam jajaran Dewan Komisaris       Board of Commissioners.
                                                Perseroan.

 Riwayat Pendidikan                             Sarjana, Universitas Trisakti                       Bachelor’s Degree, Trisakti University
 Educational Background

                                                •   Komisaris di PT Angkasa Pura Support (2020-     •   Commissioner of PT Angkasa Pura Support
                                                    2021)                                               (2020-2021)
                                                •   Asisten Khusus Wakil Menteri Pertahanan         •   Special Assistant to the Deputy Minister of
                                                    Bidang Komunikasi (Propaganda) &                    Defense for Communication (Propaganda)
                                                    Pengembangan Militer (2019)                         & Military Development (2019)
                                                •   Asisten Menteri Perhubungan Bidang Digital      •   Assistant Minister of Transportation
 Pengalaman Kerja                                   Media, Media Sosial, dan Komunikasi (2016-          in Digital Media, Social Media, and
 Work Experience                                    2019)                                               Communication (2016-2019)
                                                •   Strategic Plan & Digital Propaganda             •   Strategic Plan & Digital Consultant of
                                                    Consultant (2013-2016)                              Propaganda (2013-2016)
                                                •   CEO SID Indonesia, Digital & Cyber              •   CEO of SID Indonesia, Digital & Cyber
                                                    Communications Company (2011-2013)                  Communications Company (2011-2013)
                                                •   Country Head of Marketing & Strategic Plan,     •   Country Head of Marketing & Strategic
                                                    AJE Group International (2009-2011)                 Plan, AJE Group International (2009-2011)

 Jabatan Rangkap                                Ketua Komite Pengembangan Usaha dan                 Business Development and Risk Monitoring
 Concurrent Positions                           Pemantauan Risiko GMF (2021-sekarang)               Committee of GMF (2021-present)

 Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi         •   He does not have any affiliation with other
 Perseroan                                          dengan anggota Dewan Komisaris, Direksi,            members of the Board of Commissioners,
 Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                 Board of Directors, and major shareholders
 the Company                                                                                            of the Company
                                                •   Beliau tidak memiliki saham Perseroan.          •   He does not own any Company’s shares.




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     PROFIL DIREKSI
     Board of Directors’ Profile


     Pada tahun 2023, Rapat Umum Pemegang Saham (“RUPS”)                        In 2023, the General Meeting of Shareholders ("GMS") has
     telah menyetujui perubahan susunan Direksi GMF melalui                     approved changes to the composition of GMF’s Board of Directors
     RUPS Tahunan Tahun Buku 2022 yang diselenggarakan pada                     through the 2022 Annual GMS held on June 28, 2023, as stated
     tanggal 28 Juni 2023, sebagaimana telah dituangkan dalam                   in the Deed of Meeting Resolution Statement Number 16 dated
     Akta Pernyataan Keputusan Rapat Nomor 16 tanggal 28 Juni                   June 28, 2023, by the Notary Shanti Indah Lestari, S.H., M.Kn.
     2023 oleh Notaris Shanti Indah Lestari, S.H., M.Kn.

     Berikut adalah informasi kronologi perubahan komposisi                     The following information discloses the chronology of changes in
     anggota Direksi sepanjang tahun 2023 hingga pada saat Laporan              the composition of the Board of Directors’ members throughout
     Terintegrasi ini ditandatangani dan diterbitkan. Disampaikan pula          2023 until this Integrated Report was signed and published.
     informasi dari profil anggota Direksi yang menjabat pada saat              The following profiles of the Board of Directors’ members are
     Laporan Terintegrasi ini ditandatangani dan diterbitkan.                   those who served at the time this Integrated Report was signed
                                                                                and published.



                                                    Komposisi Anggota Direksi Sebelum Perubahan
                                               Composition of the Board of Directors’ Members Prior to Changes
       Direktur Utama                                                                 : Andi Fahrurrozi
       CEO

       Direktur Business & Base Operation                                             : Ananta Widjaja
       Director of Business & Base Operations

       Direktur Line Operation                                                        : Mukhtaris
       Director of Line Operation

       Direktur Keuangan                                                              : Salusra Satria
       Director of Finance

       Direktur Human Capital & Corporate Affairs                                     : Pudjo Sarwoko
       Director of Human Capital & Corporate Affairs



                                                     Komposisi Anggota Direksi Setelah Perubahan
                                                Composition of the Board of Directors’ Members After Changes
       Direktur Utama                                                                 : Andi Fahrurrozi
       CEO

       Direktur Base Operation                                                        : Irvan Pribadi
       Director of Base Operations

       Direktur Human Capital & Corporate Affairs                                     : Pudjo Sarwoko
       Director of Human Capital & Corporate Affairs

       Direktur Keuangan                                                              : Salusra Satria
       Director of Finance

       Direktur Line Operation                                                        : Mukhtaris
       Director of Line Operation




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                                                Andi Fahrurrozi
                                                Direktur Utama | President Director

                                                Periode Jabatan: 28 Juni 2023, efektif menjabat sejak tanggal tersebut sampai
                                                dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun 2026, Periode
                                                Kedua.
                                                Office Term: June 28, 2023, effective from the appointment date until the closing of
                                                the third GMS in 2026, Second Period.
 Kewarganegaraan                                Indonesia
 Citizenship

 Usia per 31 Desember 2023 | Tempat             44 tahun | Temanggung, 12 April 1980
 Tanggal Lahir                                  44 years old | Temanggung, April 12, 1980
 Age as of December 31, 2023 | Place of Birth
 and Date

 Domisili                                       Tangerang
 Domicile

                                                Diangkat sebagai Direktur Utama berdasarkan         Appointed as President Director based on
                                                Keputusan RUPS Tahunan pada tanggal 28 Juni         the Annual GMS Decision on 28 June 2023
                                                2023 yang dinyatakan dalam Akta Pernyataan          as stated in the Deed of Meeting Resolution
 Dasar Hukum Penunjukan                         Keputusan Rapat No. 16 tanggal 28 Juni 2023         Statement No. 16 dated June 28, 2023, Shanti
 Legal Basis of Appointment                     Shanti Indah Lestari, S.H., M.Kn, Notaris di        Indah Lestari, S.H., M.Kn, Notary in Tangerang
                                                Kabupaten Tangerang. Jabatan ini merupakan          Regency. This position is the second term in
                                                periode kedua dalam jajaran Direksi Perseroan.      the Company's Board of Directors.


                                                •   Pasca Sarjana Teknik Dirgantara, Institut       •   Postgraduate in Aerospace Engineering,
 Riwayat Pendidikan                                 Teknologi Bandung (2004);                           Institut Teknologi Bandung (2004);
 Educational Background                         •   Sarjana Teknik Dirgantara, Institut Teknologi   •   Bachelor of Aerospace Engineering, Institut
                                                    Bandung (2001).                                     Teknologi Bandung (2001).

                                                •   Direktur Business & Base Operation Perseroan    •   Director of Business & Base Operation of
                                                    (2020-2021);                                        the Company (2020-2021)
                                                •   VP Component Services Perseroan (2017-          •   VP Component Services of the Company
                                                    2020);                                              (2017-2020);
 Pengalaman Kerja                               •   VP Logistics & Bonded Services Perseroan        •   VP Logistics & Bonded Services of the
 Work Experience                                    (2017);                                             Company (2017);
                                                •   Executive Program Manager Perseroan (2014-      •   Executive Program Manager of the
                                                    2017);                                              Company (2014-2017);
                                                •   GM Knowledge Management Perseroan               •   GM Knowledge Management of The
                                                    (2012-2014)                                         Company (2012-2014)

                                                •   Beliau tidak memiliki rangkap jabatan baik      •   He does not hold any concurrent
                                                    sebagai anggota Direksi, anggota Dewan              position either as a member of the Board
 Jabatan Rangkap                                    Komisaris dan/atau anggota komite serta             of Directors, member of the Board of
 Concurrent Positions                               jabatan lainnya di emiten atau perusahaan           Commissioners and/or committee member,
                                                    publik lain.                                        and other functions at other issuers or
                                                                                                        public companies.

 Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi         •   He has no affiliation with members of the
 Perseroan                                          dengan anggota Dewan Komisaris, Direksi,            Board of Commissioners, Directors and
 Affiliate Relationship & Share Ownership of        dan Pemegang Saham Utama Perseroan                  Major Shareholders of the Company.
 the Company                                    •   Beliau memilki 144.400 lembar saham di GMF      •   He owns 144,400 shares in GMF (stock
                                                    (kode saham: GMFI)                                  code: GMFI).




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                                                      Irvan Pribadi
                                                      Direktur Base Operation | Director of Base Operation

                                                      Periode Jabatan: 28 Juni 2023, efektif menjabat sejak tanggal tersebut sampai
                                                      dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun 2026 , Periode
                                                      Pertama.
                                                      Office Term: June 28, 2023, effective from the appointment date until the closing of
                                                      the third GMS in 2026, FIrst Period.
       Kewarganegaraan                                Indonesia
       Citizenship

       Usia per 31 Desember 2023 | Tempat             54 tahun | Palangkaraya, 29 Maret 1970
       Tanggal Lahir                                  54 years old | Palangkaraya, March, 29, 1970
       Age as of December 31, 2023 | Place of Birth
       and Date

       Domisili                                       Depok
       Domicile

                                                      Diangkat sebagai Direktur Base Operation              Appointed as Director of Base Operation based
                                                      berdasarkan Keputusan RUPS Tahunan pada               on the Resolution of the Annual GMS on June
                                                      tanggal 28 Juni 2023 yang dinyatakan dalam Akta       28, 2023, as stated in the Deed of Meeting
       Dasar Hukum Penunjukan                         Pernyataan Keputusan Rapat No. 16 tanggal 28          Resolution No. 16 dated June 28, 2023, Shanti
       Legal Basis of Appointment                     Juni 2023 Shanti Indah Lestari, S.H., M.Kn, Notaris   Indah Lestari, S.H., M.Kn, Notary in Tangerang
                                                      di Kabupaten Tangerang. Jabatan ini merupakan         Regency. This position is the first period in the
                                                      periode pertama dalam jajaran Direksi Perseroan.      Company's Board of Directors.


       Riwayat Pendidikan                             •   Sarjana Teknik Mesin dari Institut Teknologi      •   Bachelor of Mechanical Engineering from
       Educational Background                             Bandung (1994).                                       Bandung Institute of Technology (1994).

                                                      •   Vice President Wide Body Base Maintenance         •   Vice President of Wide Body Base
                                                          (2019-2023);                                          Maintenance (2019-2023);
       Pengalaman Kerja
                                                      •   GM Structure Shop (2013-2019);                    •   GM of Structure Shop (2013-2019);
       Work Experience
                                                      •   GM Aircraft Structure Maintenance (2012-          •   GM of Aircraft Structure Maintenance
                                                          2016).                                                (2012-2016).

                                                      Beliau tidak memiliki rangkap jabatan baik sebagai    He has no concurrent positions as a member of
                                                      anggota Direksi, anggota Dewan Komisaris dan/         the Board of Directors, member of the Board of
       Jabatan Rangkap
                                                      atau anggota komite serta jabatan lainnya di          Commissioners and/or member of committees
       Concurrent Positions
                                                      emiten atau perusahaan publik lain.                   and other positions in other issuers or public
                                                                                                            companies.

                                                      •   Beliau tidak memiliki hubungan afiliasi           •   He has no affiliation with members of the
       Hubungan Afiliasi & Kepemilikan Saham
                                                          dengan anggota Dewan Komisaris, Direksi,              Board of Commissioners, Directors and
       Perseroan
                                                          dan pemegang saham utama Perseroan.                   Major Shareholders of the Company.
       Affiliate Relationship & Share Ownership of
                                                      •   Beliau memilki 62,800 lembar saham di GMF         •   He owns 62,800 shares in GMF (stock code:
       the Company
                                                          (kode saham: GMFI)                                    GMFI).




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                                                Pudjo Sarwoko
                                                Direktur Human Capital & Corporate Affairs | Director of Human Capital & Corporate
                                                Affairs

                                                Periode Jabatan: 28 Juni 2023, efektif menjabat sejak tanggal tersebut sampai
                                                dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun 2026 , Periode
                                                Kedua.
                                                Office Term: June 28, 2023, effective from the appointment date until the closing of
                                                the third GMS in 2026, Second Period.
 Kewarganegaraan                                Indonesia
 Citizenship

 Usia per 31 Desember 2023 | Tempat             56 tahun | Jakarta, 7 April 1968
 Tanggal Lahir                                  56 years old | Jakarta, April 7, 1968
 Age as of December 31, 2023 | Place of Birth
 and Date

 Domisili                                       Jakarta
 Domicile

                                                Diangkat sebagai Direktur Human Capital &            Appointed as Director of Human Capital &
                                                Corporate Affairs berdasarkan Keputusan RUPS         Corporate Affairs based on the Resolution of
                                                Tahunan pada tanggal 28 Juni 2023 yang               the Annual GMS on 28 June 2023 as stated
 Dasar Hukum Penunjukan                         dinyatakan dalam Akta Pernyataan Keputusan           in the Deed of Meeting Resolution No. 16
 Legal Basis of Appointment                     Rapat No. 16 tanggal 28 Juni 2023 Shanti             dated 28 June 2023 Shanti Indah Lestari, S.H.,
                                                Indah Lestari, S.H., M.Kn, Notaris di Kabupaten      M.Kn, Notary in Tangerang Regency. This is
                                                Tangerang. Jabatan ini merupakan periode kedua       her second term in the Company's Board of
                                                dalam jajaran Direksi Perseroan.                     Directors.

                                                •   Sarjana Hukum, Universitas Muhammadiyah,         •   B a c h e l o r o f L aw, U n i v e r s i ta s
 Riwayat Pendidikan                                 Tangerang (2018)                                     Muhammadiyah, Tangerang (2018)
 Educational Background                         •   Pasca Sarjana Hukum, Universitas                 •   Postgraduate in Law, Universitas
                                                    Muhammadiyah, Jakarta (2021)                         Muhammadiyah, Jakarta (2021)

                                                •   Direktur Line Operation Perseroan (2020-         •   Director of Line Operation of the Company
                                                    2021);                                               (2020-2021)
                                                •   VP Corporate Affairs & HSE Perseroan (2020);     •   VP Corporate Affairs & HSE of the
                                                                                                         Company (2020);
                                                •   Executive Project Manager Perseroan (2019-       •   Executive Project Manager Perseroan of
                                                    2020);                                               the Company (2019-2020);
 Pengalaman Kerja                               •   VP Cabin Maintenance Services Perseroan          •   VP Cabin Maintenance Services of the
 Work Experience                                    (2018-2019);                                         Company (2018-2019);
                                                •   VP Base Maintenance Perseroan (2018);            •   VP Base Maintenance of the Company
                                                                                                         (2018);
                                                •   VP Outstation Line Maintenance Perseroan         •   VP Outstation Line Maintenance of the
                                                    (2016-2018);                                         Company (2016-2018);
                                                •   Senior Aircraft Maintenance Expert Perseroan     •   Senior Aircraft Maintenance Expert of the
                                                    (2015-2016).                                         Company (2015-2016).

                                                Certified Legal Auditor (C.L.A.) – Pendidikan        Certified Legal Auditor (C.L.A.) – Legal Auditor
                                                Auditor Hukum dari Asosiasi Auditor Hukum            Program from the Indonesian Association of
 Sertifikasi
                                                Indonesia (ASAHI) dan Jimly School of Law &          Legal Auditors (ASAHI) and Jimly School of
                                                Government (JSLG) (2020)                             Law & Government (JSLG) (2020)

                                                Beliau tidak memiliki rangkap jabatan baik sebagai   He has no concurrent positions as a member of
                                                anggota Direksi, anggota Dewan Komisaris dan/        the Board of Directors, member of the Board of
 Jabatan Rangkap
                                                atau anggota komite serta jabatan lainnya di         Commissioners and/or member of committees
 Concurrent Positions
                                                emiten atau perusahaan publik lain.                  and other positions in other issuers or public
                                                                                                     companies.

 Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi          •   He has no affiliation with members of the
 Perseroan                                          dengan anggota Dewan Komisaris, Direksi,             Board of Commissioners, Directors and
 Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                  Major Shareholders of the Company.
 the Company                                    •   Beliau memiliki 89.200 lembar saham di GMF       •   He owns 89,200 shares of GMF (ticker
                                                    (kode saham: GMFI).                                  code: GMFI).




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                                                                                                                                            Company Profile




                                                      Salusra Satria
                                                      Direktur Keuangan | Director of Finance

                                                      Periode Jabatan: 2 September 2022, efektif menjabat sejak tanggal tersebut
                                                      sampai dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun 2025,
                                                      Periode Pertama.
                                                      Office Term: September 2, 2022, effective from the appointment date until the closing
                                                      of the third GMS in 2025, First Period.
       Kewarganegaraan                                Indonesia
       Citizenship

       Usia per 31 Desember 2023 | Tempat             Usia 59 tahun | Padang, 3 April 1965
       Tanggal Lahir                                  59 years old | Padang, April 3, 1965
       Age as of December 31, 2023 | Place of Birth
       and Date

       Domisili                                       Jakarta
       Domicile

                                                      Diangkat sebagai Direktur Keuangan berdasarkan       Appointed as Finance Director based on the
                                                      Keputusan RUPS Tahunan pada tanggal 2                Resolution of the Annual GMS on 2 September
                                                      September 2022 yang dinyatakan dalam Akta            2022 as stated in the Deed of Meeting
       Dasar Hukum Penunjukan                         Pernyataan Keputusan Rapat No. 2 tanggal 2           Resolution No. 2 dated 2 September 2022
       Legal Basis of Appointment                     September 2022 yang dibuat di hadapan Shanti         made before Shanti Indah Lestari, S.H., M.Kn,
                                                      Indah Lestari, S.H., M.Kn, Notaris di Kabupaten      Notary in Tangerang Regency. This position
                                                      Tangerang. Jabatan ini merupakan periode             is the first period in the Company's Board of
                                                      pertama dalam jajaran Direksi Perseroan.             Directors.

                                                      •   Sarjana Ekonomi, Universitas Indonesia, Depok    •   Bachelor of Economics from the University
       Riwayat Pendidikan                                 (1990);                                              of Indonesia, Depok (1990)
       Educational Background                         •   Pasca Sarjana Keuangan, Macquarie                •   Postgraduate Program in Finance at
                                                          University, Australia (1994)                         Macquarie University, Australia (1994)

                                                      •   Komisaris Independen, PT Asuransi Umum           •   Independent Commissioner at PT Asuransi
                                                          BCA (2022-Sekarang)                                  Umum BCA (2022- present)
                                                      •   Director of Finance and Project Assesment, PT    •   Director of Finance and Project Assesment
                                                          Penjamin Infrastruktur Indonesia (2017-2021)         at PT Penjamin Infrastruktur Indonesia
                                                                                                               (2017-2021)
                                                      •   Direktur of Operation, PT Penjamin               •   Director of Operation at PT Penjamin
                                                          Infrastruktur Indonesia (2016-2017)                  Infrastruktur Indonesia (2016-2017)
                                                      •   Executive Director of Bank Resolution            •   Executive Director of Bank Resolution
                                                          and Claims Payment, Lembaga Penjamin                 and Claims Payment at Indonesia Deposit
       Pengalaman Kerja                                   Simpanan (2013-2016)                                 Insurance Corporation (2013-2016)
       Work Experience                                •   Executive Director of Guarantee and Risk         •   Executive Director of Guarantee and
                                                          Management, Lembaga Penjamin Simpanan                Risk Management at Indonesia Deposit
                                                          (2010-2013)                                          Insurance Corporation (2013-2016)
                                                      •   Sekretaris Perusahaan, Lembaga Penjamin          •   Corporate Secretary at Indonesia Deposit
                                                          Simpanan (2005-2010)                                 Insurance Corporation (2005-2010)
                                                      •   Komisaris Independen PT Asuransi Bintang,        •   Independent Commissioner of PT Asuransi
                                                          Tbk (2007-2010)                                      Bintang, Tbk (2007-2010)
                                                      •   Deputi Direktur pada Direktorat Jenderal         •   Deputy Director at the Directorate General
                                                          Institusi Keuangan, Kementerian Keuangan             of Financial Institutions, Ministry of Finance
                                                          (2000-2006).                                         (2000-2006)

                                                      Beliau tidak memiliki rangkap jabatan baik sebagai   He has no concurrent positions as a member of
                                                      anggota Direksi, anggota Dewan Komisaris dan/        the Board of Directors, member of the Board of
       Jabatan Rangkap
                                                      atau anggota komite serta jabatan lainnya di         Commissioners and/or member of committees
       Concurrent Positions
                                                      emiten atau perusahaan publik lain.                  and other positions in other issuers or public
                                                                                                           companies.

       Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi          •   He has no affiliation with members of the
       Perseroan                                          dengan anggota Dewan Komisaris, Direksi,             Board of Commissioners, Directors and
       Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                  Major Shareholders of the Company.
       the Company                                    •   Beliau tidak memiliki saham Perseroan.           •   He does not own any shares in the Company.



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                                                Mukhtaris
                                                Direktur Line Operation | Director of Line Operation

                                                Periode Jabatan: 2 September 2022, efektif menjabat sejak tanggal tersebut
                                                sampai dengan penutupan RUPS ke-3 yang diselenggarakan pada tahun 2025,
                                                Periode Pertama.
                                                Office Term: September 2, 2022, effective from the appointment date until the closing
                                                of the third GMS in 2025, First Period.
 Kewarganegaraan                                Indonesia
 Citizenship

 Usia per 31 Desember 2023 | Tempat             40 tahun | Pontianak, 23 September 1983
 Tanggal Lahir                                  40 years old | Pontianak, September 23, 1983
 Age as of December 31, 2023 | Place of Birth
 and Date

 Domisili                                       Bekasi
 Domicile

                                                Diangkat sebagai Direktur Line Operation             Appointed as Director of Line Operation
                                                berdasarkan Keputusan RUPS Tahunan pada              based on the Resolution of the Annual GMS
                                                tanggal 2 September 2022 yang dinyatakan             on 2 September 2022 as stated in the Deed of
                                                dalam Akta Pernyataan Keputusan Rapat No.            Meeting Resolution No. 2 dated 2 September
 Dasar Hukum Penunjukan
                                                2 tanggal 2 September 2022 yang dibuat di            2022 made before Shanti Indah Lestari, S.H.,
 Legal Basis of Appointment
                                                hadapan Shanti Indah Lestari, S.H., M.Kn, Notaris    M.Kn, Notary in Tangerang Regency. This
                                                di Kabupaten Tangerang. Jabatan ini merupakan        position is the first period in the Company's
                                                periode pertama dalam jajaran Direksi Perseroan.     Board of Directors.


                                                •   Sarjana Teknik Mesin, Institut Teknologi         •   Bachelor of Mechanical Engineering, Institut
 Riwayat Pendidikan                                 Sepuluh November, Surabaya (2007);                   Teknologi Sepuluh Nopember (2007)
 Educational Background                         •   Pasca Sarjana Manajemen, PPM School of           •   Postgraduate Management, PPM School
                                                    Management, Jakarta (2022)                           of Management, Jakarta (2022)

                                                •   PLH Direktur Teknik dan Layanan PT Garuda        •   ACT Technical and Service Direktor of PT
                                                    Indonesia (Persero) Tbk (2019-2020)                  Garuda Indonesia (Persero) Tbk (2019-2020)
                                                •   VP Acquisition and Aircraft Management PT        •   VP Acquisition and Aircraft Management of
                                                    Garuda Indonesia (Persero) Tbk (2018-2022)           PT Garuda Indonesia (Persero) Tbk (2018-
 Pengalaman Kerja                                                                                        2022)
 Work Experience                                •   VP Aircraft Maintenance Program PT Garuda        •   VP Aircraft Maintenance Program of PT
                                                    Indonesia (Persero) Tbk (2015-2018)                  Garuda Indonesia (Persero) Tbk (2015-2018)
                                                •   SM Powerplant Engineering Program PT             •   SM Powerplant Engineering Program of
                                                    Garuda Indonesia (Persero) Tbk (2013-2015)           PT Garuda Indonesia (Persero) Tbk (2013-
                                                                                                         2015)

                                                Beliau tidak memiliki rangkap jabatan baik sebagai   He has no concurrent positions as a member of
                                                anggota Direksi, anggota Dewan Komisaris dan/        the Board of Directors, member of the Board of
 Jabatan Rangkap
                                                atau anggota komite serta jabatan lainnya di         Commissioners and/or member of committees
 Concurrent Positions
                                                emiten atau perusahaan publik lain.                  and other positions in other issuers or public
                                                                                                     companies.

 Hubungan Afiliasi & Kepemilikan Saham          •   Beliau tidak memiliki hubungan afiliasi          •   He has no affiliation with members of the
 Perseroan                                          dengan anggota Dewan Komisaris, Direksi,             Board of Commissioners, Directors and
 Affiliate Relationship & Share Ownership of        dan pemegang saham utama Perseroan.                  Major Shareholders of the Company.
 the Company                                    •   Beliau tidak memiliki saham Perseroan.           •   He does not own any shares in the
                                                                                                         Company.




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     PROFIL PEJABAT EKSEKUTIF
     Profile of Executive Officials




                                                     Chairuddin
                                                     VP Financial & Management Accounting



                                                                                             Latar Belakang Pendidikan:
                                                                                             Educational Background:
                                                     Usia                                    Master of Accounting, Trisakti University (2016)
                                                     54 tahun| 54 years old
                                                                                             Riwayat Jabatan:
                                                     Menjabat sejak 30 November 2021         Positional History:
                                                     Serving since November 30, 2021         • VP Financial Analysis & Enterprise Risk Management
                                                                                                (2020-2021)
                                                     Bergabung di GMF pada 16 Juni 1993      • CEO GELKo (2020)
                                                     Joined GMF on June 16, 1993             • Senior Project Manager (2019-2020)




                                                     I Made Sulandra
                                                     VP Wide Body Base Maintenance



                                                                                             Latar Belakang Pendidikan:
                                                                                             Educational Background:
                                                     Usia                                    Aviation, Garuda Indonesia (1995)
                                                     55 tahun| 55 years old
                                                                                             Riwayat Jabatan:
                                                     Menjabat sejak 10 Juli 2023             Positional History:
                                                     Serving since July 10, 2023             • VP Engine Services (2022-2023);
                                                                                             • VP Narrow Body Base Maintenance (2020-2022);
                                                     Bergabung di GMF pada 25 Maret 1991     • VP Cabin Maintenance Services – Caretaker (2019-
                                                     Joined GMF on March 25 ,1991               2020).




                                                     Firman Akasah
                                                     VP Component Services




                                                                                             Latar Belakang Pendidikan:
                                                     Usia                                    Educational Background:
                                                     44 tahun| 44 years old                  Master’s Degree from IPMI Business School (2014)

                                                     Menjabat sejak 1 Juli 2023              Riwayat Jabatan:
                                                     Serving since July 1, 2023              Positional History:
                                                                                             • PT Aerowisata (2021-2023);
                                                     Bergabung di GMF pada 24 Agustus 2007   • SM Innovation & Digital Transformation (2019-2021);
                                                     Joined GMF on August 24, 20             • GM Planning & Business Support (2018-2019).



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                                                                                            Latar Belakang Pendidikan:
                                                R. Rendy Purwidyaputra                      Educational Background:
                                                Corporate Strategy & Business Development   • Sarjana Teknik, Institut Teknologi Bandung (2012)
                                                                                               | Bachelor of Engineering, Bandung Institute of
                                                                                               Technology (2012);
                                                                                            • Master of Business Administration, SBM Institut
                                                                                               Teknologi Bandung (2002) | Master of Business
                                                                                               Administration, SBM Bandung Institute of
                                                Usia                                           Technology (2002)
                                                35 tahun| 35 years old
                                                                                            Riwayat Jabatan:
                                                Menjabat sejak 1 September 2023             Positional History:
                                                Serving since September 1, 2023             • SM Business Transformation (2020-2023);
                                                                                            • GM Business Development (2019-2020);
                                                Bergabung di GMF pada 18 Desember 2013      • GM Project Management Office & Inorganic
                                                Joined GMF on December 18, 2013                Development Caretaker (2019).




                                                Zuriati
                                                VP Engineering Services




                                                                                            Latar Belakang Pendidikan:
                                                Usia                                        Educational Background:
                                                55 tahun| 55 years old                      Mechanical Engineering, Universitas Andalas (1993)

                                                Menjabat sejak 30 November 2021             Riwayat Jabatan:
                                                Serving since November 30, 2021             Positional History:
                                                                                            • VP Cabin Maintenance Services (2020-2021);
                                                Bergabung di GMF pada 27 Desember 1993      • GM Aircraft Engineering (2017-2020);
                                                Joined GMF on December 27 , 1993            • Master Engineering (2012-2017).




                                                Wayan Winten Adnyano
                                                VP Maintenance Planning




                                                                                            Latar Belakang Pendidikan:
                                                Usia                                        Educational Background:
                                                38 tahun| 38 years old                      Master of Management, Universitas Indonesia (2019)

                                                Menjabat sejak 30 November 2021             Riwayat Jabatan:
                                                Serving since November 30, 2021             Positional History:
                                                                                            • VP Engineering Services (2019-2021);
                                                Bergabung di GMF pada 1 Januari 2008        • SM Aircraft Planning & Control 2015-2019);
                                                Joined GMF on January 1 , 2008              • FT Coordinator B777 & B744 (2014-2015).



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                                                                                                                                    Company Profile




                                                     Desrianto Adi Prayogi
                                                     VP Material & Logistic Services



                                                                                              Latar Belakang Pendidikan:
                                                                                              Educational Background:
                                                     Usia                                     Master of Management, IPMI Business School (2016)
                                                     35 tahun| 35 years old
                                                                                              Riwayat Jabatan:
                                                     Menjabat sejak 26 Agustus 2022           Positional History:
                                                     Serving since August 26, 2022            • VP Corporate Secretary & Business Development
                                                                                                 (2018-2022);
                                                     Bergabung di GMF pada 1 Mei 2011         • Corporate Business Partner (2017-2018);
                                                     Joined GMF on Mei 1 , 2011               • Executive Assistant to Board of Directors (2017).




                                                     Hudi Riantoro
                                                     VP Line Maintenance



                                                                                              Latar Belakang Pendidikan:
                                                                                              Educational Background:
                                                     Usia                                     Management, Bhakti Pembangunan School of
                                                     52 tahun| 52 years old                   Economics (1985)

                                                     Menjabat sejak 1 Juli 2021               Riwayat Jabatan:
                                                     Serving since July 1, 2021               Positional History:
                                                                                              • SM Line Maintenance – 01 Garuda CGK (2021);
                                                     Bergabung di GMF pada 31 Desember 1993   • SM Line Maintenance – 07 Sumatera (2018-2021);
                                                     Joined GMF on December 31 , 1993         • GM LMS 06 – Kalimantan (2015-2018).




                                                     Eldira Umar Ali Zain
                                                     VP Human Capital Management



                                                                                              Latar Belakang Pendidikan:
                                                                                              Educational Background:
                                                     Usia                                     Master, Institut Teknologi Bandung | Master, Bandung
                                                     41 tahun| 41 years old                   Institute of Technology (2010)

                                                     Menjabat sejak 17 April 2023             Riwayat Jabatan:
                                                     Serving since April 17, 2023             Positional History:
                                                                                              • SM Leader & Talent Developmen (2020-2023);
                                                     Bergabung di GMF pada 20 Februari 2012   • GDPS (2019-2020) ;
                                                     Joined GMF on February 20, 2012          • Corporate Business Partner (2017-2019).




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                                                Deddy Fezantino
                                                VP Internal Audit




                                                                                         Latar Belakang Pendidikan:
                                                Usia                                     Educational Background:
                                                49 tahun| 49 years old                   Master of Management, University of Indonesia (2004)

                                                Menjabat sejak 22 November 2021          Riwayat Jabatan:
                                                Serving since November 22, 2021          Positional History:
                                                                                         • VP Accounting (2018-2021);
                                                Bergabung di GMF pada 1 September 2014   • GM Reporting & Financial Planning (2016-2018);
                                                Joined GMF on September 1 , 2014         • GM Payable & Receivable Accounting (2015-2016).




                                                Zarul Fuziono
                                                VP Narrow Body Base Maintenance




                                                                                         Latar Belakang Pendidikan:
                                                Usia                                     Educational Background:
                                                43 tahun| 43 years old                   Aviation, Garuda Indonesia (1995)

                                                Menjabat sejak 18 Januari 2022           Riwayat Jabatan:
                                                Serving since January 18, 2022           Positional History:
                                                                                         • SM Base Maintenance Planning & Engineering
                                                Bergabung di GMF pada 1 November 2006       (2020-2022);
                                                Joined GMF on November 1 , 2006          • Account Manager & Sales (2016-2019).




                                                Rajesh Ferdinand Kusuma
                                                VP SBU Defense Industry


                                                                                         Latar Belakang Pendidikan:
                                                                                         Educational Background:
                                                                                         Master of Management, Institut Teknologi Bandung
                                                Usia                                     (2017)
                                                40 tahun| 40 years old
                                                                                         Riwayat Jabatan:
                                                Menjabat sejak 1 Oktober 2023            Positional History:
                                                Serving since October 1, 2023            • VP Sales & Marketing (2021-2023);
                                                                                         • SM Revenue Management & Sales Support (2019-
                                                Bergabung di GMF pada 21 November 2012      2020);
                                                Joined GMF on November 21, 2012          • Account Manager & Sales (2014-2019).




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                                                                                                                                   Company Profile




                                                     Asep Mulyana
                                                     VP Sales & Marketing




                                                                                             Latar Belakang Pendidikan:
                                                     Usia                                    Educational Background:
                                                     53 tahun| 53 years old                  Electrical Engineering, Jayabaya University (1998)

                                                     Menjabat sejak 1 Oktober 2023           Riwayat Jabatan:
                                                     Serving since Oktober 1, 2023           Positional History:
                                                                                             • VP SBU Defense Industry (2021-2023);
                                                     Bergabung di GMF pada 1 Juni 1993       • VP SBU Military (2020-2021);
                                                     Joined GMF on June 1, 1993              • KSO Chief of GMF-IAS (2019-2020)




                                                     Arif Sugianto
                                                     VP Quality Assurance & Safety


                                                                                             Latar Belakang Pendidikan:
                                                                                             Educational Background:
                                                                                             PhD of Production and Information Science, Utsunomiya
                                                     Usia                                    University
                                                     55 tahun| 55 years old
                                                                                             Riwayat Jabatan:
                                                     Menjabat sejak 1 Agustus 2021           Positional History:
                                                     Serving since August 1, 2021            • SM Safety Inspection (2020-2021);
                                                                                             • GM Quality System & Auditing Engine Maintenance
                                                     Bergabung di GMF pada 1 Desember 1994      (2018-2020);
                                                     Joined GMF on December 1, 1994          • GM Aircraft Data Group (2017-2018).




                                                     Rian Fajar Isnaeni
                                                     VP Corporate Secretary & Legal




                                                     Usia                                    Latar Belakang Pendidikan:
                                                     47 tahun| 47 years old                  Educational Background:
                                                                                             Sarjana Hukum, Universitas Diponegoro (1999) | Bachelor
                                                     Menjabat sejak 21 Juli 2020             of Law, Diponegoro University (1999)
                                                     Serving since July 21, 2020
                                                                                             Riwayat Jabatan:
                                                     Bergabung di GMF pada 7 Januari 2019    Positional History:
                                                     Joined GMF on January 7, 2019           SM Legal & Corporate Governance (2019-2020)




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                                                Endang Darajat
                                                VP Corporate Affairs & HSE




                                                                                        Latar Belakang Pendidikan:
                                                Usia                                    Educational Background:
                                                42 tahun| 42 years old                  Master of Management, IPMI Business School (2016)

                                                Menjabat sejak 1 Oktober 2020           Riwayat Jabatan:
                                                Serving since October 1, 2020           Positional History:
                                                                                        • VP Financial Analysis & Enterprise Risk Management
                                                Bergabung di GMF pada 1 Februari 2008      (2018-2020);
                                                Joined GMF on February 1, 2008          • GM Financial Analysis (2015-2018)




                                                Indra Prabowo
                                                VP Treasury Management




                                                                                        Latar Belakang Pendidikan:
                                                Usia                                    Educational Background:
                                                46 tahun| 46 years old                  Master of Management, IPMI Business School (2016)

                                                Menjabat sejak 25 Maret 2019            Riwayat Jabatan:
                                                Serving since March 25, 2019            Positional History:
                                                                                        • Financial Expert (2019);
                                                Bergabung di GMF pada 20 Agustus 2009   • GM Cash Management (2018-2019);
                                                Joined GMF on August 20 , 2009          • GM Treasury Analysis (2016-2018).




                                                R. Suryo Hardiono                       Latar Belakang Pendidikan:
                                                VP Aircraft Support & Power Services    Educational Background:
                                                                                        • Bachelor of Engineering, Institut Teknologi Bandung
                                                                                           (1998) | Bachelor of Engineering, Bandung Institute
                                                                                           of Technology (1998);
                                                                                        • Master of Industrial Engineering & Management,
                                                                                           Institut Teknologi Bandung (2009) | Master of
                                                Usia                                       Industrial Engineering & Management, Bandung
                                                49 tahun| 49 years old                     Institute of Technology (2009)

                                                Menjabat sejak 1 Agustus 2003           Riwayat Jabatan:
                                                Serving since August 1, 2003            Positional History:
                                                                                        • SM Business Support (2020-2023);
                                                Bergabung di GMF pada 3 Februari 2014   • GM Subsidiaries Management (2019-2020)
                                                Joined GMF on February 3, 2014          • GM Strategy Management Office (2016-2019).




                                                Fidiarta Andika
                                                VP Engine Services


                                                                                        Latar Belakang Pendidikan:
                                                                                        Educational Background:
                                                                                        Master of Engineering, Universitas Indonesia (2008) |
                                                Usia                                    Master of Engineering, University of Indonesia (2008)
                                                41 tahun| 41 years old
                                                                                        Riwayat Jabatan:
                                                Menjabat sejak 10 Juli 2023             Positional History:
                                                Serving since July 10, 2023             • VP Corporate Strategy & Business Development
                                                                                           (2022-2023);
                                                Bergabung di GMF pada 9 Februari 2009   • VP Component Services (2020-2022);
                                                Joined GMF on February 9, 2009          • VP Enterprise Risk Management (2019-2020).



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     DEMOGRAFI PEGAWAI [2-7, 405-1]
     Employee Demographic [2-7, 405-1]


     PEGAWAI PERSEROAN                                                       COMPANY EMPLOYEES

     Pengungkapan informasi mengenai demografi pegawai diperoleh             Disclosure of information regarding employee demographic
     dari sumber internal dan dihitung berdasarkan jumlah pegawai            is obtained from internal sources and is calculated based on
     yang tercatat per 31 Desember 2023.                                     the number of employees recorded as of December 31, 2023.

     Dalam Laporan Terintegrasi ini GMF menyajikan komposisi                 In this Integrated Report, GMF presents the composition of
     pegawai tetap (di luar entitas anak) karena komposisi pegawai           permanent employees (excluding subsidiaries) because the
     tidak tetap hanya mencakup 10.81% dari keseluruhan pegawai.             composition of non-permanent (contract) employees only covers
     Pegawai tidak tetap yang bekerja di GMF dapat dikategorikan             10.81% of all employees. Non-permanent employees who work
     sebagai non-staf dan tidak memiliki dampak terhadap                     at GMF can be categorized as non-staff and have no impact on
     perkembangan bisnis inti Perseroan. Selain itu, Perseroan tidak         the development of the Company's core business. Additionally,
     mempekerjakan pegawai paruh waktu dan pegawai dengan jam                the Company does not recruit part-time employees and non-
     kerja tidak pasti (borongan/non-guaranteed hours employees).            guaranteed hours employees.

     Jumlah pegawai Perseroan tahun 2023 adalah 4.875 orang, yang            Total number of Company employees in 2023 is 4,875 people,
     terdiri dari 4.348 orang pegawai tetap dan 527 orang pegawai            comprising of 4,348 permanent employees and 527 contract
     tidak tetap. Pegawai Perseroan bekerja di Indonesia, yaitu di           employees. The Company's employees work in Indonesia,
     kantor pusat di Tangerang dan Outstation Line Maintenance               specifically at the head office in Tangerang and Domestic Line
     Domestik di berbagai daerah di Indonesia.                               Maintenance Outstations in various regions in Indonesia.

     Komposisi pegawai tetap selama dua tahun terakhir                       The complete composition of permanent employees for the last
     selengkapnya disajikan dalam tabel-tabel berikut.                       two years is presented in the following tables.


                                                            Status Kepegawaian (orang)
                                                             Employment Status (people)
                                                                     2023                                           2022
                        Keterangan
                        Description                  Pria           Wanita          Jumlah        Pria            Wanita             Jumlah
                                                     Male           Female           Total        Male            Female              Total

       Pegawai Tetap                                  3.906                  442          4.348      4.037                 456            4.493
       Permanent Employee

       Pegawai Tidak Tetap                              467                   60           527        180                    17             197
       Contract Employee

       Jumlah
                                                      4.373                  502          4.875      4.217                 473           4.690
       Total



                                                             Jabatan Pegawai (orang)
                                                             Employee Position (people)
                                                                     2023                                           2022
                        Keterangan
                        Description                  Pria           Wanita          Jumlah        Pria            Wanita             Jumlah
                                                     Male           Female           Total        Male            Female              Total

       Vice President                                       17                 1             18          16                   2               18

       Senior Manager                                       79                18            97           79                  15              94

       Manager                                          295                   35           330        301                    35             336

       Staff                                           3.515                 388          3.903      3.641                 404            4.045

       Jumlah
                                                      3.906                  442          4.348     4.037                  456           4.493
       Total




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                                                  Wilayah Kerja Pegawai (orang)
                                                 Employee Operational Area (people)
                                                                  2023                                          2022
                   Keterangan
                   Description                  Pria             Wanita         Jumlah       Pria              Wanita             Jumlah
                                                Male             Female          Total       Male              Female              Total

 Jakarta                                          3.574                   430       4.004      3.697                    442            4.139

 Denpasar                                              71                   2          73           65                     2              67

 Surabaya                                              53                   4          57           57                     5              62

 Kualanamu                                             28                  0           28           30                     1               31

 Makassar                                              47                   2          49           51                     2             53

 Daerah Lainnya (Indonesia)                         133                     4         137        137                       4             141
 Other Areas (Indonesia)

 Jumlah
                                                 3.906                    442       4.348     4.037                     456           4.493
 Total



                                                 Tingkat Pendidikan Pegawai (orang)
                                                     Employee Education (people)
                                                                  2023                                          2022
                   Keterangan
                   Description                  Pria             Wanita         Jumlah       Pria              Wanita             Jumlah
                                                Male             Female          Total       Male              Female              Total

 Doktoral (S3)                                          2                  0             2           2                     -               2
 Doctorate

 Magister (S2)                                      124                    34         158           116                  35              151
 Master

 Sarjana (S1)                                      1.101                  238       1.339      1.051                     241           1.292
 Bachelor

 Diploma (D3)                                      1.741                  136        1.877     1.822                     138           1.960
 Diploma

 Sekolah Menengah Atas                             930                     34        964       1.046                     42            1.088
 Senior High

 Jumlah
                                                 3.906                    442       4.348     4.037                     456           4.493
 Total


                                                            Usia Pegawai (orang)
                                                            Employee Age (people)
                                                                  2023                                          2022
                   Keterangan
                   Description                  Pria             Wanita         Jumlah       Pria              Wanita             Jumlah
                                                Male             Female          Total       Male              Female              Total

 ≥ 51 tahun                                        454                    20          474       552                      23             575
 ≥ 51 years old

 31-50 tahun                                      1.893                   251       2.144      1.735                    232            1.967
 31-50 years old

 ≤ 30 tahun                                       1.559                   171       1.730      1.750                    201            1.951
 ≤ 30 years old

 Jumlah
                                                 3.906                    442       4.348     4.037                     456           4.493
 Total




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                                                                                                                                              Company Profile




                                                              Jenis Kelamin Pegawai (orang)
                                                                Employee Gender (people)
                                                Keterangan
                                                                                                                2023                        2022
                                                Description

       Pria                                                                                                             3.906                          4.037
       Male

       Wanita                                                                                                                442                           456
       Female

       Jumlah
                                                                                                                        4.348                         4.493
       Total


     PEKERJA YANG BUKAN PEGAWAI LANGSUNG                                            WORKERS WHO ARE NOT EMPLOYEES [2-8]
     [2-8]

     Aktivitas operasional Perseroan membutuhkan pemasok yang                       The Company's operational activities require suppliers from
     berasal dari dalam negeri (lokal) dan luar negeri (nonlokal). Para             within the country (local) and abroad (nonlocal). Workers of
     pekerja dari pemasok yang terlibat telah ditempatkan sesuai                    suppliers who are involved in GMF’s business performed their
     dengan perjanjian kerja sama antara Perseroan dengan pemasok.                  work in accordance with the agreement that the Company and
                                                                                    suppliers have agreed upon.

     Pada tahun 2023, pemasok GMF berjumlah 3 (tiga) perusahaan,                    In 2023, GMF has 3 (three) suppliers, the same as in 2022.
     sama dengan jumlah pemasok pada tahun 2022.

     Berikut adalah jumlah pekerja yang bukan pegawai langsung,                     The following is the number of workers who are not direct
     yang merupakan pemasok GMF:                                                    employees and came from GMF suppliers:


                                                     Pekerja yang Bukan Merupakan Pegawai Perseroan
                                                       Workers who are Not Employees of the Company
         Jenis Pekerjaan               Keterlibatan                                Keterangan                                            Jumlah
           Type of duty                  Supplier                                  Description                                            Total

       Keamanan                   Penyedia Pihak Ketiga    Para pekerja keamanan di mana Perseroan memiliki kendali           151 orang dari 1 perusahaan
       Security                   Third-party Vendor       atas para pekerja yang bertanggung jawab menjaga                   151 people from 1 company
                                                           keamanan di area operasional dan kantor.
                                                           Security workers, for whom the Company has control,
                                                           are responsible for maintaining security in the office and
                                                           operational area.

       Kebersihan dan             Penyedia Pihak Ketiga    Para pekerja kebersihan dan lingkungan di mana Perseroan           82 orang dari 1 perusahaan
       Lingkungan                 Third-party Vendor       memiliki kendali atas para pekerja yang bertanggung jawab          82 people from 1 company
       Cleanliness and                                     menjaga kebersihan dan lingkungan di area operasional
       Environment                                         dan kantor.
                                                           Cleaning and environmental workers, also under the
                                                           Company's control, are responsible for maintaining cleanliness
                                                           and the environment in the office and operational area.

       Teknis dan Non Teknis      Penyedia Pihak Ketiga    Para pekerja Teknis dan Non Teknis di mana Perseroan               119 orang dari 3 perusahaan
       Technical and Non          Third-party Vendor       memiliki kendali atas para pekerja yang bertanggung jawab          119 people from 1 company
       Technical                                           menjalankan tugas dan memastikan aspek teknis dan non
                                                           teknis tersedia di kantor dan area produksi.
                                                           Technical and Non-Technical workers, under the Company's
                                                           control, are responsible for carrying out tasks and ensuring
                                                           technical and non-technical aspects are available in office
                                                           and production areas.

       Administrasi               Penyedia Pihak Ketiga    Para pekerja Administrasi di mana Perseroan memiliki kendali       57 orang dari 1 perusahaan
       Administration             Third-party Vendor       atas para pekerja yang bertanggung jawab menjalankan tugas         57 people from 1 company
                                                           Administrasi di area operasional dan kantor.
                                                           Administrative workers, under the Company's control, are
                                                           responsible for carrying out administrative tasks in the office
                                                           and operational area.

       Jumlah                                                                                                                 409 orang dari 3 perusahaan
       Total                                                                                                                  409 people from 1 company




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                                                               INFORMASI PEMEGANG SAHAM
                                                                                                       Information on Shareholders


STRUKTUR GRUP                                                                GROUP STRUCTURE



                                                 PEMERINTAH REPUBLIK INDONESIA (melalui                              Masyarakat
             PT TRANS AIRWAYS                      Kementerian Badan Usaha Milik Negara)                 (masing-masing kepemilikan di bawah
                                                Indonesia Government (through the Ministry of State-                     5%)
                 7,99%                                         Owned Enterprises)                              Public (ownership less than 5%)

                                                                64,54%                                               27,47%




                                                                                                                      Masyarakat
                                                          GARUDA INDONESIA
              PT AERO WISATA                                                                            (masing-masing kepemilikan di bawah 5%)
                                                     PT Garuda Indonesia (Persero) Tbk
                 0,90%
                                                                                                               Public (ownership less than 5%)

                                                                89,10%                                               10,00%




                                                                   GMF
                                                 PT Garuda Maintenance Facility Aero Asia
                                                                       Tbk




                                                               PT GARUDA DAYA
                                                             PRATAMA SEJAHTERA

                                                                    91%




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     SHARE OWNERSHIP COMPOSITION                                                   KOMPOSISI KEPEMILIKAN SAHAM

                                                      Komposisi per 1 Januari 2023 dan 31 Desember 2023
                                                     Composition as of January 1, 2023 and December 31, 2023
                                                                                      Modal Ditempatkan dan
                                                                                                                          Persentase Kepemilikan
              Pemegang Saham                         Jumlah Lembar Saham                  Disetor Penuh
                                                                                                                           Ownership Percentage
                Shareholder                            Number of Shares             Issued and Fully Paid Capital
                                                                                                                                   (%)
                                                                                                (Rp)

       Kepemilikan saham ≥ 5%
       Share ownership ≥ 5%

       PT Garuda Indonesia (Persero) Tbk                          25.156.058.796                 2.515.605.879.600                                  89,10

       Kepemilikan saham < 5%
       Share ownership < 5%

       PT Aerowisata                                                 254.101.604                    25.410.160.400                                   0,90

       Masyarakat (masing – masing                                 2.823.351.100                   282.335.110.000                                  10,00
       kepemilikan <5%)

       Jumlah
                                                                 28.233.511.500                2.823.351.150.000                                 100,00
       Total

       Keterangan | Notes:
       Nilai Nominal Saham = Rp100/lembar saham | Share Nominal Value = Rp100/share
       Tidak terdapat perubahan komposisi kepemilikan saham pada awal dan akhir tahun 2023. | There were no changes in the composition of the
       shareholders at either the beginning or the end of the year in 2023.
                                                                                                   64,54%

     INFORMASI PEMEGANG SAHAM UTAMA DAN                                            INFORMATION ON THE MAJOR AND
     PENGENDALI HINGGA PEMILIK AKHIR                                               CONTROLLING SHAREHOLDERS UNTIL THE
                                                                                   FINAL OWNER

     PT Garuda Indonesia (Persero) Tbk merupakan pemegang saham                    PT Garuda Indonesia (Persero) Tbk is the major and controlling
     utama dan pengendali GMF dengan kepemilikan sebesar 89,10%                    shareholder of GMF with 89.10% ownership. Garuda Indonesia
     saham. Garuda Indonesia merupakan maskapai milik Pemerintah                   is a State-Owned Airline, which was established on March 31,
     Indonesia yang didirikan pada tanggal 31 Maret 1950 sebagai                   1950, as part of the government’s effort to manage national
     bagian dari penataan kedirgantaraan Republik Indonesia.                       aerospace.

     Pada tahun 2008, Garuda Indonesia menjadi satu-satunya                        In 2008, Garuda Indonesia became the only local airline with IATA
     maskapai lokal yang memperoleh sertifikasi IATA Operational                   Operational Safety Audit (IOSA) Operator certification. Garuda
     Safety Audit (IOSA) Operator. Garuda Indonesia melakukan                      Indonesia held an Initial Public Offering (IPO) to the public on
     Initial Public Offering (IPO) pada tanggal 11 Februari 2011                   February 11, 2011, on its 6,335,738,000 shares. Those shares
     atas 6.335.738.000 sahamnya kepada masyarakat. Saham                          were listed using “GIAA” as its ticker code at Indonesia Stock
     tersebut telah dicatatkan pada Bursa Efek Indonesia dengan                    Exchange.
     kode “GIAA”.




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                                                Komposisi Pemegang Saham Garuda Indonesia
                                                 Garuda Indonesia’s Shareholders Composition

                                                     27,46%




                                                 7,99%                                 64,54%




                                                              Indonesian Goverment
                                                              PT Trans Airways
                                                              Public (ownership<5%)


Hingga akhir tahun 2023, Pemerintah Republik Indonesia memiliki            Until the end of 2023, the Indonesian Government owns 54%
54% saham Garuda Indonesia dan menjadi pemegang saham                      of Garuda Indonesia’s shares and becomes the controlling/
pengendali/utama Garuda Indonesia. Dengan demikian, entitas                major shareholder. Therefore, the final owner of GMF is the
pemilik akhir GMF adalah Pemerintah Republik Indonesia.                    Indonesian Government.

KEPEMILIKAN SAHAM DEWAN KOMISARIS                                          THE BOARD OF COMMISSIONERS AND
DAN DIREKSI                                                                DIRECTORS’ SHARE OWNERSHIP

                                                31 Desember 2023                                          1 Januari 2023
                                                December 31, 2023                                         January 1, 2023
      Nama dan Posisi
      Name and Position                                        Kepemilikan Tidak                                         Kepemilikan Tidak
                                  Kepemilikan Langsung                                Kepemilikan Langsung
                                                                    Langsung                                                  Langsung
                                    Direct Ownership                                    Direct Ownership
                                                               Indirect Ownership                                        Indirect Ownership

 DEWAN KOMISARIS
 BOARD OF COMMISSIONERS

 Dharmadi                                   Nihil                      Nihil                    Nihil                            Nihil
 Komisaris Utama                            None                       None                     None                             None
 President Commissioner


 Rahmat Hanafi                              Nihil                      Nihil                    Nihil                            Nihil
 Komisaris                                  None                       None                     None                             None
 Commissioner

 Ali Gunawan                                Nihil                      Nihil                    Nihil                            Nihil
 Komisaris Independen                       None                       None                     None                             None
 Independent
 Commissioner

 Abhan                                      Nihil                      Nihil                    Nihil                            Nihil
 Komisaris Independen                       None                       None                     None                             None
 Independent
 Commissioner

 Agit Atriantio                             Nihil                      Nihil                    Nihil                            Nihil
 Komisaris                                  None                       None                     None                             None
 Commissioner

 DIREKSI
 BOARD OF DIRECTORS

 Andi Fahrurrozi                           144,400                   0,00051                    67,200                         0.00024
 Direktur Utama President
 Director

 Irvan Pribadi                              62,800                   0,00022                      0                                0
 Direktur Base Operation
 Director of Base Operations




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                                                          31 Desember 2023                                           1 Januari 2023
                                                          December 31, 2023                                          January 1, 2023
           Nama dan Posisi
           Name and Position                                              Kepemilikan Tidak                                         Kepemilikan Tidak
                                         Kepemilikan Langsung                                       Kepemilikan Langsung
                                                                               Langsung                                                  Langsung
                                           Direct Ownership                                           Direct Ownership
                                                                          Indirect Ownership                                        Indirect Ownership

       Pudjo Sarwoko                                 89,200                     0,00032                     89,200                         0,00032
       Direktur Human Capital &
       Corporate Affairs
       Director of Human Capital
       & Corporate Affairs

       Salusra Satria                                Nihil                        Nihil                      Nihil                          Nihil
       Direktur Keuangan                             None                         None                       None                           None
       Director of Finance

       Mukhtaris                                     Nihil                        Nihil                      Nihil                          Nihil
       Direktur Line Operation                       None                         None                       None                           None
       Director of Line Operation



     Kepemilikan saham anggota Direksi (Manajemen) pada tabel                            Share ownership over the Company by members of the Board of
     merupakan kepemilikan langsung yang didapat dari program                            Directors (the Management) is categorized as direct ownership
     kepemilikan saham oleh karyawan melalui program Employee                            through the Company’s Employee Stock Allocation ESA when
     Stock Allocation ESA yang diadakan Perseroan ketika Direktur                        those Directors were still the Company’s employees. Members
     yang bersangkutan masih berstatus sebagai pegawai Perseroan.                        of the Board of Commissioners and Directors have no indirect
     Anggota Dewan Komisaris dan Direksi tidak memiliki kepemilikan                      ownership over the Company. Further information concerning
     saham tidak langsung terhadap Perseroan. Keterangan lebih                           Management’s share ownership is available in the MESOP
     lanjut mengenai kepemilikan oleh Manajemen dapat dilihat pada                       program within the chapter of Management Analysis and
     program MESOP yang terdapat di Bab Analisis dan Pembahasan                          Discussion.
     Manajemen.

     KELOMPOK PEMEGANG SAHAM DENGAN                                                      GROUP OF SHAREHOLDERS WITH <5%
     KEPEMILIKAN <5%                                                                     OWNERSHIP

                                                     1 Januari 2023                                            31 Desember 2023
                                                     January 1, 2023                                           December 31, 2023
          Kelompok
       Pemegang Saham                                    Jumlah           Persentase                                                         Persentase
                                   Jumlah
          Groups of                                      Lembar           Kepemilikan     Jumlah Pemilik                                     Kepemilikan
                                   Pemilik                                                                   Jumlah Lembar Saham
         Shareholders                                    Saham             Ownership        Number of                                         Ownership
                                  Number of                                                                    Number of Shares
                                                        Number of         Percentage         Owners                                          Percentage
                                   Owners
                                                          Shares              (%)                                                                (%)

       DOMESTIK
       DOMESTIC

       Perorangan                          9.751        950.246.000               3,37              9551                 1.002.966.500                  3,55
       Individual

       Koperasi                                2             14.850.100          0,05                  2                     14.850.100                0,05
       Cooperation

       Yayasan                                 3             13.341.300          0,05                  -                               -                   -
       Foundation

       Dana Pensiun                            7         767.689.100              2,72                 6                   767.378.300                   2,71
       Pension Fund

       Asuransi                                6         678.414.700             2,40                  6                    678.414.700                 2,40
       Insurance

       Perseroan Terbatas                     12         423.195.304        1,50 90.20                13                    409.711.704                 1,45
       Limited Liability
       Company

       Lembaga Keuangan                         1         22.393.700             0,08                  -                               -                   -
       Financial
       Institutions




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                                             1 Januari 2023                                               31 Desember 2023
                                             January 1, 2023                                              December 31, 2023
     Kelompok
  Pemegang Saham                                  Jumlah         Persentase                                                                   Persentase
                             Jumlah
     Groups of                                    Lembar         Kepemilikan       Jumlah Pemilik                                             Kepemilikan
                             Pemilik                                                                    Jumlah Lembar Saham
    Shareholders                                  Saham           Ownership          Number of                                                 Ownership
                            Number of                                                                     Number of Shares
                                                 Number of       Percentage           Owners                                                  Percentage
                             Owners
                                                   Shares            (%)                                                                          (%)

 Bank                                    1        161.050.000             0,57                   1                        161.050.000                 0,57
 Bank

 Sub Jumlah                         9.783        3.031.180.204           10,740              9.579        3.034.371.30422.393.700                     10,73
 Sub Total

 ASING
 FOREIGN

 Perorangan                             14         10.450.400             0,04                3114            12.179.00010.450.400                0,040.04
 Individual

 Badan Usaha                            11         35.822.100              0,13               1311            30.902.40035.822.100                 0,100.13
 Business Entity

 Sub Jumlah                            25          46.272.500              0,17              4425             43.081.40046.272.500                 0,150.17
 Sub Total

 JUMLAH
                              98089.841         3.077.452.704        10,90100          9.6239.789     307.745.270.428.233.511.500                 10,87100
 TOTAL



                                         Pergerakan Jumlah Pemegang Saham < 5% Sepanjang 2023
                                               Movement of <5% Shareholders Throughout 2023
              10.400
                                                                                             10.253
              10.200
                                                                                                         9.955
              10.000                                                       9.891
                          9.836
                                     9.789                                          9.782                         9.816
                                                                                                                            9.744
                                                9.688    9.689   9.652
               9.800                                                                                                                 9.623

               9.600

               9.400

               9.200
                           Jan       Feb         Mar      Apr     May       Jun       Jul      Aug      Sep        Oct      Nov         Dec



20 PEMEGANG SAHAM TERBESAR                                                         20 LARGEST SHAREHOLDERS

                                                                                                                                         Persentase
                                                                            Klasifikasi (L=Lokal/
                                                                                                          Jumlah Lembar                  Kepemilikan
                   Nama Investor                        Status                    A=Asing)
  No.                                                                                                        Saham                        Ownership
                   Investor Name                        Status             Classification (L=Local/
                                                                                                          Number of Shares               Percentage
                                                                                 A=Foreign)
                                                                                                                                             (%)

    1.     GARUDA INDONESIA                      PERSEROAN                             L                         25,156,058,796                    89,.100
           (PERSERO) TBK, PT                     TERBATAS
                                                 LIMITED LIABILITY
                                                 COMPANY

   2.      PT. JASA RAHARJA (PERSERO)            ASURANSI                              L                           435.323.000                       1,542
                                                 INSURANCE

   3.      PT TASPEN (ASURANSI) - AFS            DANA PENSIUN                          L                          425.000.000                        1,505
                                                 PENSION FUND

   4.      AERO WISATA, PT                       PERSEROAN                             L                            254.101.604                     0,900
                                                 TERBATAS
                                                 LIMITED LIABILITY
                                                 COMPANY




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                                                                                                                              Persentase
                                                                          Klasifikasi (L=Lokal/
                                                                                                    Jumlah Lembar             Kepemilikan
                         Nama Investor                      Status              A=Asing)
        No.                                                                                            Saham                   Ownership
                         Investor Name                      Status       Classification (L=Local/
                                                                                                    Number of Shares          Percentage
                                                                               A=Foreign)
                                                                                                                                  (%)

         5.     PT ASURANSI JIWA IFG                 ASURANSI                       L                     187.562.500                     0,664
                                                     INSURANCE

         6.     PT ASABRI (PERSERO) - DAPEN          DANA PENSIUN                   L                    175.000.000                     0,620
                TNI                                  PENSION FUND

         7.     PT ASABRI (PERSERO) - DAPEN          DANA PENSIUN                   L                     162.500.000                     0,576
                POLRI                                PENSION FUND

         8.     PERUM JAMKRINDO                      BANK                           L                     161.050.000                     0,570
                                                     BANK

         9.     P T Y U L I E S E K U R I TA S       PERSEROAN                      L                     142.778.500                    0,506
                INDONESIA TBK                        TERBATAS
                                                     LIMITED LIABILITY
                                                     COMPANY

        10.     JOHAN GANI                           PERORANGAN                     L                       41.238.900                    0,146
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

         11.    IR KOMARI SUBAKIR                    PERORANGAN                     L                      30.362.800                     0,108
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        12.     PT. ASKRINDO                         ASURANSI                       L                     30.000.000                      0,106
                                                     INSURANCE

        13.     LIE CHANDRA                          PERORANGAN                     L                      26.550.000                    0,094
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        14.     ROBERT DANIEL WALONI                 PERORANGAN                     L                     20.600.000                      0,073
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        15.     IRWAN SOETIKNO                       PERORANGAN                     L                       15.484.100                   0,055
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        16.     FERRY DARMAWAN                       PERORANGAN                     L                        14.151.100                  0,050
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        17.     KOPERASI SIMPAN PINJAM               KOPERASI                       L                       14.100.100                   0,050
                NUSANTARA SEJAHTE                    COOPERATIVE

        18.     PIERRE DERMAWAN                      PERORANGAN                     L                       13.691.600                   0,048
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        19.     JOHAN GANI                           PERORANGAN                     L                       13.316.800                    0,047
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL

        20.     HENDRA GUNAWAN                       PERORANGAN                     L                      13.300.000                     0,047
                                                     INDONESIA
                                                     LOCAL INDIVIDUAL




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                   DAFTAR ENTITAS ANAK, ENTITAS ASOSIASI, JOINT
                   VENTURE (JV), SPECIAL PURPOSE VEHICLE (SPV)
             List of Subsidiaries, Associates, Joint Venture (JV), Special Purpose Vehicle (SPV)

                                                                            Penyertaan         Kepemilikan
                                                                                                                  Jumlah aset
                                                                         Modal, Pendirian,      Oleh GMF
                         Bidang                                                                                     (Rp Juta)
     Nama                                              Alamat                 Operasi          Ownership by                              Status
                          Usaha                                                                                   Total Assets
     Name                                              Address           Capital Investment,      GMF                                    Status
                       Business Line                                                                               (Rp Million)
                                                                           Establishment,          (%)
                                                                            Operational        2023   2022      2023        2022

 Entitas Anak
 Subsidiaries

 PT Garuda         Jasa penyediaan              Jalan       Husein              2019             91      91     90,047       111,107   Beroperasi
 Daya Pratama      tenaga kerja dan jasa        Sastranegara Blok                                                                      Operating
 Sejahtera         borongan pekerjaan           F Nomor 2, Rukun
                   lainnya                      Tetangga 005, Rukun
                   Labor supply and other       Warga 004, Kelurahan
                   wholesale services           Jurumudi, Kecamatan
                                                Benda, Kota Tangerang,
                                                Provinsi Banten 15124




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     KRONOLOGI PENERBITAN DAN PENCATATAN SAHAM
     Chronology of Share Issuance and Listing


     GMF mencatatkan sahamnya pertama kali di Bursa Efek                           GMF listed its shares for the first time on the Indonesia Stock
     Indonesia (BEI) pada tanggal 10 Oktober 2017. GMF menawarkan                  Exchange (IDX) on October 10, 2017. GMF offered 2,823,351,100
     2.823.351.100 saham biasa atas nama atau 10% dari modal                       common, registered stock or 10% of the issued capital,
     ditempatkan dengan harga penawaran Rp400 per saham kepada                     offering Rp400 per share to the public. GMF experienced an
     masyarakat. Saat IPO terjadi over subscribe sebanyak 2,6 kali                 oversubscribed IPO by 2.6 times and gained a proceed value
     dengan nilai proceed sebesar Rp1.129.340.440.000.                             of Rp1,129,340,440,000.

     Sejak mencatatkan sahamnya di BEI pada tanggal 10 Oktober                     Since registered its shares in IDX on October 10, 2017, until the
     2017 hingga akhir tahun 2021, GMF tidak melakukan pemecahan                   end of 2021, GMF had never conducted any of the following
     saham (stock split), penggabungan saham (reverse stock),                      corporate actions that might add or deduce its capital, among
     mengeluarkan saham bonus, merubah nilai nominal saham,                        others, stock split, reverse stock, and issuance of bonus shares
     mengeluarkan efek konversi, atau aksi korporasi lainnya yang                  issuance or convertible security.
     menyebabkan penambahan dan pengurangan modal.


           Jumlah Lembar Saham Sebelum IPO                    Jumlah Lembar Saham Setelah Penambahan            Jumlah Lembar Saham Akumulasi
                Share Numbers Before IPO                           Share Numbers After the Addition               Accumulated Share Numbers

                            665.600                                          28.232.845.900                                28.233.511.500



                                                               Kronologi Kepemilikan Saham GMF
                                                                GMF Share Ownership Chronology
                                                                                                        Modal Ditempatkan dan           Persentase
                                                                                 Jumlah Lembar              Disetor Penuh               Kepemilikan
                    Keterangan
                                                        Pemegang Saham              Saham                Issued and Fully Paid           Ownership
                    Description
                                                          Shareholders           Share Numbers                  Capital                 Percentage
                                                                                                                 (Rp)                       (%)

       Pra IPO 10 Oktober 2017 (Nilai Nominal        PT Garuda Indonesia                      658.944           164.736.000.000                   99,00
       Saham = Rp250.000/lembar saham)               (Persero) Tbk
       Before IPO on October 10, 2017 (Share
       Value = Rp250,000/share)                      PT Aero Wisata                             6.656             1.664.000.000                     1,00

                                                     Jumlah
                                                                                          665.600             166.400.000.000                   100,00
                                                     Total

       Pasca IPO per 31 Desember 2023                PT Garuda Indonesia             25.156.058.796            2.515.605.879.600                   89,10
       (Nilai Nominal Saham = Rp100/lembar           (Persero) Tbk
       saham)
       After IPO as of December 31, 2023             PT Aero Wisata                     254.101.604               25.410.160.400                    0,90
       (Share Value = Rp100/share)                   Dewan Komisaris dan                      296.400                29.640.000                    0,00
                                                     Direksi
                                                     Board of Commissioners
                                                     and Directors

                                                     Masyarakat (masing-masing       2.823.054.700             282.305.470.000                     10,00
                                                     kepemilikan < 5%)
                                                     Public (each with < 5%
                                                     ownership)

                                                     Jumlah
                                                                                    28.233.511.500           2.823.351.150.000                      100
                                                     Total




     Laporan Terintegrasi 2023 Integrated Report                                                              PT Garuda Maintenance Facility Aero Asia Tbk
Page 97
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INFORMASI KRONOLOGI PENERBITAN DAN PENCATATAN
                                  EFEK LAINNYA
                                     Chronological Information on Other Securities Issuance and Listing
Hingga akhir tahun 2023, GMF tidak mencatatkan efek di bursa                  By the end of 2023, GMF had not listed any securities on any
efek mana pun. Dengan demikian tidak ada informasi terkait                    stock exchange. Therefore, there was no information related
kronologis pencatatan, jenis tindakan korporasi, perubahan                    to chronological listings, types of corporate actions, changes
jumlah efek, nama bursa maupun peringkat efek.                                in the number of securities, the names of stock exchanges, or
                                                                              securities rankings.




                                     LEMBAGA DAN PROFESIONAL PENUNJANG
                                                                                   Supporting Agencies and Professionals

                                                                   Akuntan Publik
                                                                  Public Accountant

 Nama                                    Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis &Rekan
 Name                                    WTC 3, Jl. Jend. Sudirman Kav. 29-31, Jakarta 12920
                                         +62 21 5212901
                                         www.pwc.com

 Jasa                                    Audit Laporan Keuangan Perseroan Tahun Buku 2023.
 Services                                Audited the Company’s Financial Statement for 2023 Financial Year.

 Periode Penugasan                       2023
 Assignment Period

 Jasa Penugasan                          Biaya jasa sebesar Rp3.790.000.000 dengan capped out of pocket expenses sebesar Rp51.000.000.
 Fees                                    Service fee of Rp3,790,000,000 with capped out of pocket expenses as much as Rp51,000,000.



                                                                Biro Administrasi Efek
                                                                    Share Registrar

 Nama                                    PT Datindo Entrycom
 Name                                    Jl Hayam Wuruk No.28 Kebon Kelapa, Gambir, Jakarta 10120
                                         +62 21 3508077
                                         www.datindo.com

 Jasa                                    Administrasi kepemilikan saham dan registrasi peserta RUPS.
 Services                                Administration of share ownership and registration for GMS participants.

 Periode Penugasan                       2023
 Assignment Period

 Jasa Penugasan                          Rp66.600.000
 Fees



                                                                       Notaris
                                                                       Notary

 Nama                                    Shanti Indah Lestari, S.H., M.Kn.
 Name                                    Jl. Mahakam F 34/7 Pondok Indah, Kutabumi, Pasar Kemis, Tangerang 15560
                                         +62 81808391586

 Jasa                                    Jasa Notaris RUPS Tahunan.
 Services                                Notary Services for Annual GMS.

 Periode Penugasan                       2023
 Assignment Period

 Jasa Penugasan                          Rp24.205.000
 Fees



PT Garuda Maintenance Facility Aero Asia Tbk                                                                 Laporan Terintegrasi 2023 Integrated Report
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98                                                                                                                     Profil Perusahaan
                                                                                                                         Company Profile




     KERJA SAMA DENGAN MITRA LAIN
     Cooperation with Other Partners


     Pada tahun 2023, GMF terus mengelola kerja sama yang telah       GMF maintains its ongoing cooperation through selection
     berlangsung melalui aktivitas seleksi dan ekspansi, khususnya    and expansion, which during 2023, focused on Supply Chain
     untuk area Supply Chain Management, Sales & Marketing,           Management, Sales & Marketing, Banking, and Human Resources
     Perbankan dan Sumber Daya Manusia (SDM). Kerja sama juga         (HR). The form of cooperation also covers Joint Operation to
     dilakukan melalui pembentukan Joint Operation dalam rangka       expand the market and increase revenues.
     memperluas pasar dan meningkatkan pendapatan GMF.

     Adapun bentuk kerja sama yang telah dilakukan GMF dengan         The types of cooperation between GMF and other partners
     mitra lain sepanjang tahun 2023 adalah sebagai berikut:          throughout 2023 were as follows:

     1. Perjanjian Perawatan Pesawat Terbang:                         1. Aircraft Maintenance Agreement:
         • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
            Garuda Indonesia (Persero) Tbk                                    Garuda Indonesia (Persero) Tbk
         • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
            Citilink Indonesia                                                Citilink Indonesia
         • PT Garuda Maintenance Facility Aero Asia Tbk - TNI             • PT Garuda Maintenance Facility Aero Asia Tbk - TNI
            Angkatan Udara                                                    Angkatan Udara
         • PT Garuda Maintenance Facility Aero Asia Tbk – JetOnex         • PT Garuda Maintenance Facility Aero Asia Tbk – JetOnex
            LLC                                                               LLC
         • PT Garuda Maintenance Facility Aero Asia Tbk –                 • PT Garuda Maintenance Facility Aero Asia Tbk –
            Aerotranscargo (FZE)                                              Aerotranscargo (FZE)
         • PT Garuda Maintenance Facility Aero Asia Tbk – Viet            • PT Garuda Maintenance Facility Aero Asia Tbk – Viet
            Nam Travel Airlines Joint Stock                                   Nam Travel Airlines Joint Stock
         • PT Garuda Maintenance Facility Aero Asia Tbk –                 • PT Garuda Maintenance Facility Aero Asia Tbk –
            Kementerian Pertahanan Republik Indonesia                         Kementerian Pertahanan Republik Indonesia
         • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
            Indonesia Air Asia                                                Indonesia Air Asia
         • PT Garuda Maintenance Facility Aero Asia Tbk – Fiji            • PT Garuda Maintenance Facility Aero Asia Tbk – Fiji
            Airways                                                           Airways
         • PT Garuda Maintenance Facility Aero Asia Tbk – TNI             • PT Garuda Maintenance Facility Aero Asia Tbk – TNI
            Angkatan Udara                                                    Angkatan Udara
         • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
            Black Diamond Hallaero                                            Black Diamond Hallaero
         • PT Garuda Maintenance Facility Aero Asia Tbk – Nauru           • PT Garuda Maintenance Facility Aero Asia Tbk – Nauru
            Air Corporation                                                   Air Corporation
         • PT Garuda Maintenance Facility Aero Asia Tbk – Cebu            • PT Garuda Maintenance Facility Aero Asia Tbk – Cebu
            Air Inc                                                           Air Inc
         • PT Garuda Maintenance Facility Aero Asia Tbk –                 • PT Garuda Maintenance Facility Aero Asia Tbk –
            Kementerian Sekretariat Negara Republik Indonesia                 Kementerian Sekretariat Negara Republik Indonesia
         • PT Garuda Maintenance Facility Aero Asia Tbk – Quick           • PT Garuda Maintenance Facility Aero Asia Tbk – Quick
            Link Aviation Services (FZC)                                      Link Aviation Services (FZC)
         • PT Garuda Maintrnance Facility Aero Asia Tbk – Martinair       • PT Garuda Maintrnance Facility Aero Asia Tbk – Martinair
            Hollan N.V.                                                       Hollan N.V.
         • PT Garuda Maintenance Facility Aero Asia Tbk – Elit’Avia       • PT Garuda Maintenance Facility Aero Asia Tbk – Elit’Avia
            Malta Ltd.                                                        Malta Ltd.
     2. Perjanjian Perawatan Mesin:                                   2. Engine Maintenance Agreement:
         • PT Garuda Maintenance Facility Aero Asia Tbk – Fiji            • PT Garuda Maintenance Facility Aero Asia Tbk – Fiji
            Airways                                                           Airways
     3. Nota Kesepahaman:                                             3. Memorandum of Understanding:
         • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
            Sumberdaya Sewatama                                               Sumberdaya Sewatama




     Laporan Terintegrasi 2023 Integrated Report                                              PT Garuda Maintenance Facility Aero Asia Tbk
Page 99
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     • PT Garuda Maintenance Facility Aero Asia Tbk – Societe        • PT Garuda Maintenance Facility Aero Asia Tbk – Societe
       Air France                                                      Air France
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       MuladaTU                                                        MuladaTU
     • PT Garuda Maintenance Facility Aero Asia Tbk – Asosiasi       • PT Garuda Maintenance Facility Aero Asia Tbk – Asosiasi
       Indonesia Aircraft Maintenance Shop Association                 Indonesia Aircraft Maintenance Shop Association
     • PT Garuda Maintenance Facility Aero Asia Tbk – Nauru          • PT Garuda Maintenance Facility Aero Asia Tbk – Nauru
       Air Corporation                                                 Air Corporation
     • PT Garuda Maintenance Facility Aero Asia Tbk – Excel          • PT Garuda Maintenance Facility Aero Asia Tbk – Excel
       Aerospace Private Limited                                       Aerospace Private Limited
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Dirgantara Indonesia (Persero)                                  Dirgantara Indonesia (Persero)
     • PT Garuda Maintenance Facility Aero Asia Tbk – Institut       • PT Garuda Maintenance Facility Aero Asia Tbk – Institut
       Teknologi Sepuluh Nopember                                      Teknologi Sepuluh Nopember
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Samudra Assetara Indonesia                                      Samudra Assetara Indonesia
     • PT Garuda Maintenance Facility Aero Asia Tbk – Vessel         • PT Garuda Maintenance Facility Aero Asia Tbk – Vessel
       Aerospace                                                       Aerospace
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Angkasa Pura Propertindo                                        Angkasa Pura Propertindo
     • PT Garuda Maintenance Faciity Aero Asia Tbk – PT Fluid        • PT Garuda Maintenance Faciity Aero Asia Tbk – PT Fluid
       Science Dynamics                                                Science Dynamics
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT KAI         • PT Garuda Maintenance Facility Aero Asia Tbk – PT KAI
     • PT Garuda Maintenance Facility Aero Asia Tbk – Travira        • PT Garuda Maintenance Facility Aero Asia Tbk – Travira
       Air                                                             Air
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Indonesia AirAsia                                               Indonesia AirAsia
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       MuladaTu                                                        MuladaTu
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT Tri         • PT Garuda Maintenance Facility Aero Asia Tbk – PT Tri
       MG Intra Asia Airlines                                          MG Intra Asia Airlines
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Indopelita Aircraft Services                                    Indopelita Aircraft Services

4. Perjanjian Kerahasiaan Informasi:                             4. Confidentiality Agreement
    • PT Garuda Maintenance Facility Aero Asia Tbk – B/E             • PT Garuda Maintenance Facility Aero Asia Tbk – B/E
       Aerospace                                                        Aerospace
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       4848 Global System                                               4848 Global System
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Samudera Assetama Indonesia                                      Samudera Assetama Indonesia
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Avtek Transutama                                                 Avtek Transutama
    • PT Garuda Maintenance Facility Aero Asia Tbk – Sabena          • PT Garuda Maintenance Facility Aero Asia Tbk – Sabena
       Aerospace Engineering                                            Aerospace Engineering
    • PT Garuda Maintenance Facility Aero Asia Tbk – KJPP            • PT Garuda Maintenance Facility Aero Asia Tbk – KJPP
       Amin, Nirwan, Alfiantori, dan Rekan                              Amin, Nirwan, Alfiantori, dan Rekan
    • PT Garuda Maintenance Facility Aero Asia Tbk – Israel          • PT Garuda Maintenance Facility Aero Asia Tbk – Israel
       Aerospace Indutries Ltd                                          Aerospace Indutries Ltd
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT              • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Aman Inti International                                          Aman Inti International
    • PT Garuda Maintenance Facility Aero Asia Tbk – Safran          • PT Garuda Maintenance Facility Aero Asia Tbk – Safran
       Aircraft Engines                                                 Aircraft Engines
    • PT Garuda Maintenance Facility Aero Asia Tbk – Frost           • PT Garuda Maintenance Facility Aero Asia Tbk – Frost
       & Sullivan (Singapore) Pte Ltd                                   & Sullivan (Singapore) Pte Ltd


PT Garuda Maintenance Facility Aero Asia Tbk                                              Laporan Terintegrasi 2023 Integrated Report
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100                                                                                                                      Profil Perusahaan
                                                                                                                           Company Profile




      5. Perjanjian Dukungan Materail:                                   5. Agreement:
         a. PT Garuda Maintenance Facility Aero Asia Tbk – DalDeer          a. PT Garuda Maintenance Facility Aero Asia Tbk – DalDeer
             Naim Associate Pte.Ltd.                                            Naim Associate Pte.Ltd.
      6. Perjanjian Sewa Ruangan, Tanah, dan Konsesi Usaha:              6. Rental Agreement on Space, Land, and Business Concession:
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Angkasa Pura I                                                     Angkasa Pura I
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Angkasa Pura II                                                    Angkasa Pura II
          • PT Garuda Maintenance Facility Aero Asia Tbk –                   • PT Garuda Maintenance Facility Aero Asia Tbk –
             Direktorat Jenderal Perhubungan Udara                              Direktorat Jenderal Perhubungan Udara
          • PT Garuda Maintenance Facility Aero Asia Tbk – Dinas             • PT Garuda Maintenance Facility Aero Asia Tbk – Dinas
             Perhubungan Pemprov Jatim                                          Perhubungan Pemprov Jatim
      7. Perjanjian Perbaikan Industrial Gas Turbine & Power Services:   7. Industrial Gas Turbine & Power Services Repair Agreement:
          • PT Garuda Maintenance Facility Aero Asia Tbk – Jindi             • PT Garuda Maintenance Facility Aero Asia Tbk – Jindi
             South Jambi B Co. Limited                                          South Jambi B Co. Limited
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Pembangkit Jawa Bali                                               Pembangkit Jawa Bali
      8. Perjanjian Fasilitas Perbankan:                                 8. Banking Facility Agreement:
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT Bank           • PT Garuda Maintenance Facility Aero Asia Tbk – PT Bank
             Negara Indonesia (Persero) Tbk                                     Negara Indonesia (Persero) Tbk
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT Bank           • PT Garuda Maintenance Facility Aero Asia Tbk – PT Bank
             Maybank Indonesia                                                  Maybank Indonesia
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Bank CTBC Indonesia                                                Bank CTBC Indonesia
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Indonesia Infrastructure Finance                                   Indonesia Infrastructure Finance
      9. Perjanjian Pengadaan:                                           9. Agreement:
          • PT Garuda Maintenance Facility Aero Asia Tbk – Kantor            • PT Garuda Maintenance Facility Aero Asia Tbk – Kantor
             Akuntan Publik Tanudiredja Wibisana Rintis & Rekan                 Akuntan Publik Tanudiredja Wibisana Rintis & Rekan
          • PT Garuda Maintenance Facility Aero Asia Tbk –                   • PT Garuda Maintenance Facility Aero Asia Tbk –
             Panasonic Avionics Corporation                                     Panasonic Avionics Corporation
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Krayon Konsultan Indo                                              Krayon Konsultan Indo
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT Jaya           • PT Garuda Maintenance Facility Aero Asia Tbk – PT Jaya
             Teknologi Internasional                                            Teknologi Internasional
          • PT Garuda Maintenance Facility Aero Asia Tbk –                   • PT Garuda Maintenance Facility Aero Asia Tbk –
             Perusahaan Perseroan (Persero) PT Telekomunikasi                   Perusahaan Perseroan (Persero) PT Telekomunikasi
             Indonesia Tbk                                                      Indonesia Tbk
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Meta Citra Indonesia                                               Meta Citra Indonesia
          • PT Garuda Maintenance Facility Aero Asia Tbk – KOPKAR            • PT Garuda Maintenance Facility Aero Asia Tbk – KOPKAR
             GMF Aero Asia Sejahtera                                            GMF Aero Asia Sejahtera
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Buana Sabas Fattah                                                 Buana Sabas Fattah
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Kreasi Cipta Utama                                                 Kreasi Cipta Utama
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Duta Anggada Realty                                                Duta Anggada Realty
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Citra Kirana Emas                                                  Citra Kirana Emas
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Wijaya Karya Reality                                               Wijaya Karya Reality
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT Fika           • PT Garuda Maintenance Facility Aero Asia Tbk – PT Fika
             Aparthotels Indonesia                                              Aparthotels Indonesia
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Mandiri Maju Kelolaytama                                           Mandiri Maju Kelolaytama
          • PT Garuda Maintenance Facility Aero Asia Tbk – PT                • PT Garuda Maintenance Facility Aero Asia Tbk – PT
             Aneka Sakti Bakti                                                  Aneka Sakti Bakti



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     • PT Garuda Maintenance Facility Aero Asia Tbk –                • PT Garuda Maintenance Facility Aero Asia Tbk –
        Koninklijke Luchtvaart Maatschappij N.V.                        Koninklijke Luchtvaart Maatschappij N.V.
     • PT Garuda Maintenance Facility Aero Asia Tbk- Turkish         • PT Garuda Maintenance Facility Aero Asia Tbk- Turkish
        Technic                                                         Technic
10. Perjanjian Pelatihan dan Pendidikan:                        10. Agreement:
     • PT Garuda Maintenance Facility Aero Asia Tbk – Forum          • PT Garuda Maintenance Facility Aero Asia Tbk – Forum
        Komunikasi Sekolah Menengah Kejuruan Penerbangan                Komunikasi Sekolah Menengah Kejuruan Penerbangan
        Indonesia                                                       Indonesia
     • PT Garuda Maintenance Facility Aero Asia Tbk –                • PT Garuda Maintenance Facility Aero Asia Tbk –
        Uzbekistan Airways Technics LLC                                 Uzbekistan Airways Technics LLC
11. Letter of Intent:                                           11. Letter of Intent:
     • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
        Airfast Indonesia                                               Airfast Indonesia

KERJA SAMA LUAR NEGERI                                          INTERNATIONAL COOPERATION

1. Multipartite Payment Agreement:                              1. Multipartite Payment Agreement
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Garuda Indonesia (Persero) Tbk – Garuda Indonesia               Garuda Indonesia (Persero) Tbk – Garuda Indonesia
       Holiday France S.A.S – Chisima Real Estate – KLM Royal          Holiday France S.A.S – Chisima Real Estate – KLM Royal
       Dutch Airlines                                                  Dutch Airlines
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Garuda Indonesia (Persero) Tbk – MSN 31057 Leasing              Garuda Indonesia (Persero) Tbk – MSN 31057 Leasing
       (France) SARL – Air Atlanta Europe Ltd.                         (France) SARL – Air Atlanta Europe Ltd.
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Garuda Indonesia (Persero) Tbk – Garuda Indonesia               Garuda Indonesia (Persero) Tbk – Garuda Indonesia
       Holiday France S.A.S                                            Holiday France S.A.S
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Garuda Indonesia (Persero) Tbk – Falcon Aerospace               Garuda Indonesia (Persero) Tbk – Falcon Aerospace
       France 1 SARL c/o DAE Capital                                   France 1 SARL c/o DAE Capital
    • PT Garuda Maintenance Facility Aero Asia Tbk – Aviation       • PT Garuda Maintenance Facility Aero Asia Tbk – Aviation
       Group - CFM                                                     Group - CFM
    • PT Garuda Maintenance Facility Aero Asia Tbk – PT             • PT Garuda Maintenance Facility Aero Asia Tbk – PT
       Sriwijaya Air – AWAS France                                     Sriwijaya Air – AWAS France
    • PT Garuda Maintenance Facility Aero Asia Tbk – Garuda         • PT Garuda Maintenance Facility Aero Asia Tbk – Garuda
       Indonesia Holiday France SAS – PT Garuda indonesia              Indonesia Holiday France SAS – PT Garuda indonesia
       (Persero) Tbk – Avalon Aerospace AOE 86 Limited –               (Persero) Tbk – Avalon Aerospace AOE 86 Limited –
       Avolon Aerospace AOE 87 Limited – HKAC Leasing                  Avolon Aerospace AOE 87 Limited – HKAC Leasing
       1671 (Ireland) Limited – CIT Aerospace International            1671 (Ireland) Limited – CIT Aerospace International
       (France), SARL                                                  (France), SARL
    • PT Garuda Maintenance Facility Aero Asia Tbk – CFM            • PT Garuda Maintenance Facility Aero Asia Tbk – CFM
       – AVAP -Aviation Group                                          – AVAP -Aviation Group
    • PT Garuda Maintenance Facility Aero Asia Tbk – Griffon        • PT Garuda Maintenance Facility Aero Asia Tbk – Griffon
       Aviation Services, LLC                                          Aviation Services, LLC
2. Standard Ground Handling Agreement:                          2. Standard Ground Handling Agreement:
    • PT Garuda Maintenance Facility Aero Asia Tbk – Qantas         • PT Garuda Maintenance Facility Aero Asia Tbk – Qantas
       Airways Limited                                                 Airways Limited
    • PT Garuda Maintenance Facility Aero Asia Tbk – Malaysia       • PT Garuda Maintenance Facility Aero Asia Tbk – Malaysia
       Airlines Bhd                                                    Airlines Bhd
    • PT Garuda Maintenance Facility Aero Asia Tbk – Sichuan        • PT Garuda Maintenance Facility Aero Asia Tbk – Sichuan
       Airlines Co.                                                    Airlines Co.
    • PT Garuda Maintenance Facility Aero Asia Tbk –                • PT Garuda Maintenance Facility Aero Asia Tbk –
       Koninklijke Luchtvaart Maatschappij N.V.                        Koninklijke Luchtvaart Maatschappij N.V.
3. Business Partner:                                            3. Business Partner:
    • PT Garuda Maintenance Facility Aero Asia Tbk – Ahmed          • PT Garuda Maintenance Facility Aero Asia Tbk – Ahmed
       Trade International                                             Trade International
    • PT Garuda Maintenance Facility Aero Asia Tbk – JAR            • PT Garuda Maintenance Facility Aero Asia Tbk – JAR
       Aviation                                                        Aviation



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      KERJA SAMA DENGAN INSTITUSI DALAM                                       COOPERATION WITH LOCAL AND FOREIGN
      NEGERI DAN LUAR NEGERI                                                  INSTITUTIONS

      GMF juga bekerja sama dengan berbagai institusi lokal dan asing,        GMF is also cooperating with local and foreign institutions, inside
      di dalam dan luar negeri, seperti kedutaan besar sejumlah negara.       the country and abroad, such as foreign countries' embassies.
      Hal ini dilakukan untuk meningkatkan akses dan memperoleh               This cooperation is needed to increase accessibility and gain valid
      informasi yang valid mengenai karakteristik target pasar. GMF           information regarding the target market's characteristics. GMF
      juga menjalin kerjasama dengan Departemen Perindustrian                 also cooperates with the Industrial Department on networking
      dalam kegiatan networking dengan para pengusaha global                  activities with global entrepreneurs in several events, inside
      dalam beberapa event, baik di dalam negeri maupun di luar               the country and aboard. The Company also cooperates with
      negeri. Perseroan juga menjalin kerjasama dengan universitas-           well-known, national universities to increase the capacities of
      universitas ternama nasional untuk meningkatkan kapasitas               ou Human Resources.
      Sumber Daya Manusia.

      Adapun kerja sama yang terus berlangsung dengan mitra lain              The cooperation agreements throughout 2023 were as follows:
      sepanjang tahun 2023 adalah sebagai berikut:

      1. Perjanjian Kerja Sama Pengembangan dan Sertifikasi                   1. Cooperation Agreement on the Development and Certification
         Prototipe Retread Ban Pesawat Terbang Tipe Cessna 208                   of Retread Prototype for Aircraft Tires of Cessna 208 and
         dan Twin Otter                                                          Twin Otter
          • PT Garuda Maintenance Facility Aero Asia Tbk – Badan                  • Agency for the Assessment and Application of Technology
             Pengkajian dan Penerapan Teknologi




      INFORMASI WEBSITE GMF
      GMF Website


      GMF telah memenuhi ketentuan umum atas informasi yang                   GMF has fulfilled the general requirements on Issuers’ or
      diwajibkan oleh regulator sebagaimana yang tertuang dalam               Public Companies’ website as stated in OJK Regulation No. 8/
      Peraturan OJK No. 8/POJK.04/2015 tentang Situs Web Emiten               POJK.04/2015.
      atau Perusahaan Publik.

      GMF memiliki website resmi www.gmf-aeroasia.co.id yang                  GMF has an official website at www.gmf-aeroasia.co.id in
      tersedia dalam Bahasa Indonesia dan Bahasa Inggris. Website             Indonesian and English. The GMF website displays Company
      GMF menampilkan informasi Perseroan yang dapat diakses                  information accessible by the stakeholders and the general
      oleh pemangku kepentingan maupun masyarakat umum.                       public.


                                                                 Informasi                                                   Website GMF
          No.
                                                                Information                                                  GMF Website

           1.      Informasi Perseroan                                                                                              V
                   Company Information

           2.      Informasi Bagi Pemodal atau Investor                                                                             V
                   Information for Investors

           3.      Informasi Tata Kelola Perusahaan                                                                                 V
                   Information on Corporate Governance

           4.      Informasi Tanggjung Jawab Sosial Perusahaan                                                                      V
                   Information on Corporate Social Responsibility




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                                                    Informasi Menu Website GMF
                                                         Website Menu of GMF
                          Informasi Perusahaan                                           Corporate Information

 •   Visi - Misi                                                  •   Vision - Mission
 •   Sejarah Singkat GMF                                          •   History & Short Brief of GMF
 •   Dewan Komisaris & Direksi                                    •   BOC & BOD
 •   Pelanggan Kami                                               •   Our Customers
 •   Penghargaan & Pencapaian                                     •   Awards & Achievements
 •   Sertifikat                                                   •   Certificate
 •   CSR                                                          •   CSR
 •   Pendekatan Kemanusiaan & Keramahan Indonesia                 •   Human Touch & Indonesian Hospitality

                               Layanan Kami                                                     Our Services

 •   Aircraft Maintenance                                         •   Aircraft Maintenance
 •   GMF Defense                                                  •   GMF Defense
 •   Power Services                                               •   Power Services
 •   AOG Support                                                  •   AOG Support

                                  Fasilitas                                                       Facilities

 •   Sekilas Hanggar                                              •   Hanggar Overview
 •   Fasilitas Lain                                               •   Other Facilities

                            Hubungan Investor                                                Investor Relations

 •   Laporan Tahunan                                              •   Annual Reports
 •   Laporan Keberlanjutan                                        •   Sustainability Reports
 •   Laporan RUPS                                                 •   GMF Report
 •   Laporan Keuangan                                             •   Financial Report
 •   Harga Saham                                                  •   Stock Price
 •   Keuntungan Berinvestasi di GMF                               •   Why You Should Invest in GMF
 •   Laporan Bisnis Bulanan                                       •   Monthly Business Update

                             Anak Perusahaan                                                     Subsidiary

 •   GPDS                                                         •   GPDS

                               Ruang Berita                                                     News Room

 •   Siaran Pers                                                  •   Press Release

                         Tata Kelola Perusahaan                                          Corporate Governance

 •   Praktik GCG                                                  •   GCG Practices
 •   Komite Audit                                                 •   Audit Committee
 •   Pengadaan                                                    •   Procurement

                               Hubungi Kami                                                     Contact Us

 •   Info Kontak Perusahaan                                       •   Corporate Contact Info
 •   Info Kontak Outstation                                       •   Outstation Contact Info

                                    Karir                                                          Career

 •   Lowongan & Program Magang                                    •   Jobs Vacancy & Internship




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                                                04



                                                ANALISIS DAN
                                                PEMBAHASAN
                                                 MANAJEMEN
                                                  Management Discussion
                                                           and Analysis
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      TINJAUAN PEREKONOMIAN DAN INDUSTRI
      Industrial and Economic Review


      SITUASI GLOBAL YANG MENANTANG                                         CHALLENGING GLOBAL SITUATION

      Tahun 2023 merupakan tahun yang penuh tantangan,                      It was a challenging year in 2023, characterized by a slowdown
      ditandai dengan perlambatan pertumbuhan ekonomi global,               in global economic growth, escalating geopolitical tensions,
      meningkatnya ketegangan geopolitik, dan sejumlah isu signifikan       and significant challenges such as higher inflation rates and
      seperti tingkat inflasi yang lebih tinggi serta fluktuasi penjualan   fluctuations in commodity sales and demand. This environment
      dan permintaan komoditas. Kondisi ini jauh dari ideal, karena         was far from ideal, as instability and uncertainty invaded the year,
      ketidakstabilan dan ketidakpastian melanda terus melanda              causing businesses to hesitate in making major investments
      sepanjang tahun, menyebabkan dunia usaha ragu-ragu dalam              due to fears of potential income losses.
      melakukan investasi besar karena kekhawatiran akan potensi
      hilangnya pendapatan.

      Situasi geopolitik ditandai oleh konflik berkepenjangan,              The geopolitical landscape was marked by ongoing conflicts,
      termasuk perang antara Rusia dan Ukraina, serta meningkatnya          including the war between Russia and Ukraine, as well as
      ketegangan di Timur Tengah. Faktor-faktor tersebut turut              heightened tensions in the Middle East. These factors contributed
      menyebabkan fluktuasi harga minyak dunia sepanjang tahun.             to fluctuating crude oil prices throughout the year. However,
      Walaupun demikian, situasi yang bergejolak bertolak belakang          despite the volatile situation, oil prices experienced depreciation.
      dengan harga minyak mengalami depresiasi. Harga rata-rata             The average price of Brent crude oil stood at USD83 per barrel
      minyak mentah Brent mencapai USD83 per barel pada tahun               in 2023, down from USD101 per barrel in 2022, representing a
      2023, turun dari USD101 per barel pada tahun 2022, yang               difference of approximately USD19 per barrel. Global markets
      menandakan adanya selisih sekitar USD19 per barel. Pasar              adjusted to new trade dynamics, with Russian crude oil finding
      global menyesuaikan diri dengan dinamika perdagangan baru,            alternative destinations outside the European Union (EU), while
      dengan minyak mentah Rusia mendapatkan tujuan alternatif              global crude oil demand fell short of expectations.
      untuk memasarkan produknya di luar Uni Eropa (UE), sementara
      permintaan minyak mentah global masih di bawah ekspektasi.

      Dunia sedang dalam masa transisi dari era pandemi ke era pasca-       The world is in transition from the pandemic to a post-pandemic
      pandemi, berupaya untuk kembali ke tingkat kinerja sebelum            era, striving to return to pre-pandemic levels of performance
      pandemi dalam kondisi optimal. Namun, meski ada niat untuk            under optimal conditions. However, despite the intent to
      pulih, roda perekonomian global belum sepenuhnya berjalan             recover, global economic wheels were not fully operational, with
      karena tidak terpenuhinya tingkat pasokan dan permintaan.             shortages in both supply and demand. High demand outpaced
      Permintaan tercatat melebihi kapasitas dunia usaha untuk              businesses’ capacity to meet the demand due to production
      memenuhinya karena kendala produksi, sehingga menyebabkan             constraints, leading to a devaluation of goods and negative
      devaluasi barang dan pertumbuhan perdagangan global menjadi           growth in global trade.
      negatif.

      Situasi global yang beragam membuat Dana Moneter                      The mixed global situation made International Monetary Fund
      Internasional (IMF) menyimpulkan dalam publikasi World                (IMF) concluded in its World Economic Outlook publication on
      Economic Outlook pada Januari 2024, bahwa pertumbuhan                 January 2024, that the global economic growth was recorded at
      ekonomi global tercatat sebesar 3,1% pada tahun 2023. Angka           3.1% in 2023. It was slightly lower than the 3.5% growth in 2022.
      tersebut sedikit lebih rendah dibandingkan pertumbuhan 3,5%
      pada tahun 2022.




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KINERJA EKONOMI NASIONAL YANG                                       RESILIENT NATIONAL ECONOMIC
RESILIEN                                                            PERFORMANCE

Meskipun di tengah gejolak global, Indonesia mengalami              Despite global turmoil, Indonesia experienced resilient economic
pertumbuhan ekonomi yang resilien (Tangguh). Badan Pusat            growth. Indonesia’s Central Statistics Agency (BPS), through
Statistik (BPS) melalui Berita Resmi Statistik (BRS) yang dirilis   its Official Statistic News (BRS) released on February 5, 2024,
pada 5 Februari 2024 mencatat pertumbuhan sebesar 5,05%             recorded a growth of 5.05% in 2023. Although slightly lower
pada tahun 2023. Meski sedikit lebih rendah dibandingkan            than the 5.31% growth in 2022, Indonesia maintained strong
pertumbuhan 5,31% pada tahun 2022, Indonesia tetap                  economic growth beyond 5% for the past seven quarters.
mempertahankan pertumbuhan ekonomi yang kuat melebihi
5 % selama tujuh kuartal terakhir.

Selain itu, dalam menghadapi gejolak global dan pertumbuhan         Furthermore, in the face of global upheavals and negative
harga barang yang negatif, Prompt Manager Index (PMI) Bank          growth in goods prices, the Prompt Manager Index (PMI) of Bank
Indonesia (BI) menunjukkan posisi yang kuat di zona ekspansi,       Indonesia (BI) indicated a strong position in the expansion zone,
mencapai 51,20% pada Q4-2023, lebih tinggi dibandingkan             reaching 51.20% in Q4-2023, higher than the 50.06% recorded
50,06% pada Q4-2022. Mitra dagang utama Indonesia, antara           in Q4-2022. Indonesia’s main trading partners, including China,
lain Tiongkok, Amerika Serikat, Jepang, dan India, juga mengalami   the United States, Japan, and India, also experienced growth
tingkat pertumbuhan masing-masing sebesar 5,2%, 2,5%, 2,0%,         rates of 5.2%, 2.5%, 2.0%, and 6.3%, respectively.
dan 6,3%.

Diukur berdasarkan Produk Domestik Bruto (PDB) atas dasar           Measured based on Gross Domestic Product (GDP) at current
harga berlaku, PDB Indonesia mencapai Rp20.892,4 triliun            prices, Indonesia’s GDP reached Rp20,892.4 trillion, with GDP
dengan PDB per kapita sebesar Rp75,0 juta atau USD4.919,7.          per capita at Rp75.0 million or USD4,919.7. Major contributors
Kontributor utama pertumbuhan PDB antara lain industri              to GDP growth included the processing, trade, agriculture,
pengolahan, perdagangan, pertanian, konstruksi, dan                 construction, and mining industries, contributing 19.08%, 12.96%,
pertambangan, masing-masing memberikan kontribusi sebesar           11.39%, 10.49%, and 9.62%, respectively.
19,08%, 12,96%, 11,39%, 10,49%, dan 9,62%.

PENINGKATAN MOBILITAS MASYARAKAT                                    HIGHER MOBILITY

Bisnis GMF erat kaitannya dengan kegiatan transportasi dan          As GMF’s business is closely related to transportation activities,
hal ini menyangkut mobilitas masyarakat yang melakukan              it involves the mobility of people traveling from one place to
perjalanan dari satu tempat ke tempat lain. Dengan adanya           another. With the transition into a post-pandemic situation
transisi ke situasi pascapandemi dan kembalinya situasi normal,     and a return to normal situation, there has been an upgrade in
terjadi peningkatan dalam pergerakan penumpang. Peningkatan         movement. This increase in mobility is further encouraged by
mobilitas ini juga didorong oleh persiapan pemilu 2024.             preparations for the 2024 elections.




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                                               Peningkatan Jumlah Penumpang di Seluruh Moda Transportasi
                                                      Higher Passenger Level in Every Public Transport




                                               20.39%                    10.62%                     16.46%


                                                      (YoY)                 (YoY)                     (YoY)
                                              Angkutan Rel              Angkutan Laut            Angkutan Udara
                                              Rail Transport             Sea Transport             Air Transport




                                                      Peningkatan Jumlah Kunjungan Wisatawa Mancanegara
                                                                 Higher Tourist Visits from Abroad




                                                                          27.72%
                                                                          (y-on-y)




      Perayaan Natal dan Tahun Baru telah mendorong lebih banyak                 The Christmas and New Year celebrations have prompted more
      masyarakat untuk melakukan perjalanan wisata sehingga                      people to travel for leisure, thereby boosting other economic
      meningkatkan kegiatan perekonomian lainnya. Sedangkan                      activities. As for the elections, massive preparations were made
      menjelang pemilu, persiapan besar-besaran dilakukan baik                   by both participants and organizers that year. These activities
      oleh peserta maupun penyelenggara pada tahun tersebut.                     were primarily linked to meetings at every level, ranging from
      Kegiatan-kegiatan ini terutama terkait dengan pertemuan-                   the national to the regional level and down to the smallest areas.
      pertemuan di setiap tingkat, mulai dari tingkat nasional, daerah,
      hingga area terkecil.

      INDUSTRI PENERBANGAN DAN MRO                                               AVIATION AND MRO INDUSTRY

      Indonesia National Air Career Association (INACA) mencatat                 The Indonesia National Air Career Association (INACA) recorded
      sekitar 70,8 juta penerbangan penumpang domestik pada tahun                around 70.8 million domestic passenger flights in 2023,
      2023, terdiri dari 66,8 juta penerbangan reguler dan tambahan 4            consisting of 66.8 million regular flights and an additional 4
      juta pada perayaan Natal dan Tahun Baru. Angka ini melampaui               million during the Christmas and New Year celebrations. This
      angka 56,4 juta yang tercatat pada tahun 2022 tetapi belum                 figure surpasses the 56.4 million recorded in 2022 but has yet
      mencapai tingkat sebelum pandemi yaitu 79,5 juta pergerakan.               to reach the pre-pandemic level of 79.5 million movements.

      Walaupun demikian, terdapat sejumlah kendala yang                          However, several hindrances have prevented the industry from
      menghalangi industri untuk mencapai kapasitas normalnya.                   reaching its normal capacity. The number of aircraft currently
      Jumlah pesawat yang beroperasi saat ini masih lebih sedikit                operating remains lower than usual. This situation stems from
      dari biasanya. Maskapai menghadapi permasalahan internal                   internal capacity issues within airlines regarding investments
      terkait investasi pesawat baru dan gangguan rantai pasokan                 in new aircraft and supply chain disruptions of spare parts due
      suku cadang akibat konflik yang sedang berlangsung antara                  to ongoing conflicts between Russia and Ukraine and in the
      Rusia dan Ukraina serta di Timur Tengah.                                   Middle East.

      Tantangan ini juga mempengaruhi industri MRO. Kekurangan suku              The challenges also extend to the MRO industry. Spare parts
      cadang telah menjadi kendala utama, sehingga mengharuskan                  shortages have emerged as a major constraint, requiring MRO
      pelaku MRO untuk mengelola arus kas secara efektif, khususnya              players to manage cash flow effectively, particularly in terms
      dalam hal pembayaran dari maskapai penerbangan. Pembayaran                 of airline payments. Significant down payments are often



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uang muka dalam jumlah besar sering kali diperlukan sebelum                         required before parts can be obtained, amidst a long timeline
suku cadang dapat diperoleh, di tengah ketidakpastian yang                          of uncertainty regarding their arrival.
panjang mengenai kedatangan suku cadang tersebut.

Terlepas dari tantangan-tantangan ini, terdapat optimisme                           Despite these challenges, there is optimism driven by increased
yang didorong oleh peningkatan mobilitas secara global, seiring                     mobility globally, as the world races to return to pre-pandemic
dengan upaya dunia untuk kembali ke produktivitas dan tingkat                       productivity and economic rates. Presedence Research, a leading
perekonomian sebelum pandemi. Presedence Research, penyedia                         provider of strategic market insights, estimated the global air
informasi pasar strategis terkemuka, memperkirakan ukuran                           transport MRO market size at USD82.19 billion in 2023, projected
pasar MRO transportasi udara global sebesar USD82,19 miliar                         to reach around USD129.70 billion by 2032, with a growth rate
pada tahun 2023, diproyeksikan mencapai sekitar USD129,70                           of 5.20% during the forecast period from 2023 to 2032.
miliar pada tahun 2032, dengan tingkat pertumbuhan sebesar
5,20% selama periode perkiraan dari tahun 2023 hingga 2032.

Kawasan Asia Pasifik memegang pangsa pendapatan                                     The Asia Pacific region held the largest revenue share of 34%
terbesar sebesar 34% pada tahun 2022, mendominasi pasar                             in 2022, dominating the air transport MRO market due to the
MRO transportasi udara karena pesatnya ekspansi industri                            rapid expansion of the aviation industry, rising air travel demand,
penerbangan, meningkatnya permintaan perjalanan udara,                              and a growing aircraft fleet. This trend is particularly evident
dan pertumbuhan armada pesawat. Tren ini terutama terlihat                          in countries like China and India, with their large populations
di negara-negara seperti Tiongkok dan India dengan populasi                         experiencing substantial economic growth, leading to increased
mereka yang besar dan pertumbuhan ekonomi yang masif,                               investment and activity in air transport for both leisure and
sehingga menyebabkan peningkatan investasi dan aktivitas di                         business purposes.
bidang transportasi udara baik untuk tujuan liburan maupun
bisnis.

Skenario ini juga mencakup Indonesia, yang menempati peringkat                      This scenario also includes Indonesia, which ranks among the top
empat besar negara dengan populasi terpadat secara global dan                       four most populated countries globally and is the most populated
merupakan negara terpadat di Asia Tenggara. Indonesia secara                        in Southeast Asia. Indonesia has consistently experienced strong
konsisten mengalami pertumbuhan ekonomi yang kuat, yang                             economic growth, which is expected to drive a massive increase
diperkirakan akan mendorong peningkatan besar-besaran di                            in the MRO market, benefiting companies like GMF.
pasar MRO, sehingga menguntungkan perusahaan seperti GMF.


                           Pasar Global MRO Sektor Transportasi Penerbangan 2022 hingga 2032 (USD Miliar)
                                     Global Air Transport MRO Market Size 2022 to 2032 (USD Billion)
                                     $78.5      $82.19 $86.13 $90.36 $94.87 $99.71 $104.90 $110.46 $116.52 $122.82 $129.70




                                     2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
                                                          Sumber | Source:
                                                     www.precedenceresearch.com




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      KEBIJAKAN STRATEGIS 2023
      2023 Strategic Policy




      Sejalan dengan pertumbuhan ekonomi Indonesia dan industri             In line with the growth of the Indonesian economy and the aviation
      aviasi pasca pandemi COVID-19 pada tahun 2023, GMF masih              industry post-COVID-19 pandemic in 2023, GMF continued the
      melanjutkan kebijakan strategis periode sebelumnya. Perseroan         strategic policies of the previous period. The Company has
      melakukan beberapa penyesuaian dengan kondisi terkini dan             made several adjustments to current conditions and issued
      mengeluarkan kebijakan strategi baru untuk meningkatkan               new strategic policies to improve financial performance and
      kinerja keuangan dan menjaga kondisi operasional. Strategi            maintain operational conditions. The strategy in 2023 still
      pada tahun 2023 masih berfokus pada Bold Strategy yang                focus on the Bold Strategy, consisting of three main aspects:
      terdiri dari tiga aspek utama Profitability, Restrukturisasi          Profitability, Debt Restructuring, and Equity Improvement, which
      Utang, dan Perbaikan Ekuitas, yang dijalankan dengan beberapa         have been implemented with several adjustments according to
      penyesuaian sesuai dengan kondisi dan kebutuhan Perusahaan.           the Company’s conditions and needs.

      1. Peningkatan Profitabilitas                                         1. Increased Profitability
         Perseroan melakukan peningkatan customer share of wallet              The Company has increased its customer share of wallet,
         terutama dari pelanggan Non GA dengan menambah jumlah                 especially from non-GA customers, by increasing the number
         pesawat yang ditangani GMF, ataupun dengan menawarkan                 of aircraft handled by GMF or by offering other product
         portofolio produk lain. Adapun pelanggan NGA yang                     portfolios. NGA customers expected to experience an increase
         mengalami peningkatan nilai transaksi pada tahun 2023                 in transaction value in 2023 include Cebu Pacific, Indonesia Air
         adalah Cebu Pacific, Indonesia Air Asia, Korean Airlines, Pelita      Asia, Korean Airlines, Pelita Air Services, Vietjet, and Vietnam
         Air Services, Vietjet dan Vietnam Airlines. Perseroan juga            Airlines. The Company also improved internal quality by
         meningkatkan kualitas internal melalui optimalisasi Supply            optimizing Supply Chain Management, Optimizing Assets and
         Chain Management, Optimalisasi Aset dan Persediaan,                   Inventory, and Manpower Development through programs
         dan Manpower Development melalui program License                      like the License Engineer program, Leader Development
         engineer, Leader Development Program, Multirole Program.              Program, and Multirole Program. Additionally, the Company
         Perseroan juga terus melakukan diversifikasi bisnis dengan            also diversified its business by offering Industrial Solutions
         menawarkan Industrial Solutions dan memperluas cakupan                and expanded its product range, including Power Services, as
         produk yang terdiri dari Power Services serta Fabrication             well as Fabrication and Manufacturing such as generators,
         dan Manufacturing seperti generator, IPP, oil & gas, railway,         IPP, oil & gas, railway, chemical, fabrication, and others.
         chemical, fabrication, dan lainnya.




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2. Restrukturisasi Utang                                          2. Debt Restructuring
   Perseroan juga terus menjalankan upaya restrukturisasi            The Company continued to carry out debt restructuring
   utang untuk mengelola arus kas dan likuiditas dengan              efforts to manage cash flow and liquidity by restructuring
   merestrukturasi fasilitas Pendanaan dan Utang Vendor yang         Funding and Vendor Debt facilities, which include long-term
   mencakup pinjaman jangka panjang maupun jangka pendek.            and short-term loans.
3. Perbaikan Ekuitas                                              3. Equity Improvements
   Perseroan melakukan divestasi anak usaha dengan menjual           The Company divested its subsidiary by selling shares in PT
   saham PT GDPS untuk dapat mengembangkan bisnis di                 GDPS to develop business outside the GA Group, through
   luar GA Group (melalui network dan financial dari partner).       network and financial partners.

Selain tiga strategi utama tersebut, dengan mempertimbangkan      Apart from these three main strategies, considering the recovery
pulihnya industri aviasi, GMF kembali melakukan pendekatan        of the aviation industry, GMF adopted a partnership approach
partnership dengan airline, MRO, maupun OEM, dengan tetap         with airlines, MROs, and OEMs while adhering to applicable
mengikuti prosedur yang berlaku. Perseroan lebih mengutamakan     procedures. The Company prioritizes customers from countries
pelanggan dari negara yang tidak terkena dampak yang signifikan   less impacted by the global economic downturn, especially those
dari pelemahan ekonomi global, terutama para pelanggan            with healthy financial conditions. Collaborations include the
dengan kondisi finansial yang sehat. Jenis-jenis kolaborasi       development of the Engine Shop and IGTE business, Defense
yang dilakukan mencakup pengembangan bisnis Engine Shop           Industry, as well as partnerships with airline operators to provide
dan IGTE, Defense Industry, serta kolaborasi dengan maskapai      maintenance services at the airline’s home base.
operator untuk menyediakan layanan maintenance di home
base maskapai.

Strategi usaha juga mencakup aspek lainnya di luar bisnis,        The business strategy also covered other aspects outside of
terutama melalui optimalisasi penerapan Good Corporate            business, particularly by optimizing the implementation of
Governance (GCG) dan internal process, serta memastikan           Good Corporate Governance (GCG) and internal processes, and
aspek transparansi dalam pelaporan keuangan tetap                 ensuring transparency in financial reporting is maintained. With
terjaga. Sehubungan dengan telah dicabutnya keberlakukan          the removal of GCG implementation indicators within SOEs and
indikator implementasi GCG pada lingkungan BUMN dan               considering previous year GCG Assessments by independent
mempertimbangkan bahwa pada tahun sebelumnya GCG                  assessors, in 2023, the Company conducted a self-assessment
Assessment telah dilakukan oleh asesor independen, maka pada      of GCG implementation using the assessment method stipulated
tahun 2023 Perseroan melakukan self assessment implementasi       by the Financial Services Authority Regulations (POJK).
GCG dengan menggunakan metode penilaian yang ditetapkan
oleh Peraturan Otoritas Jasa Keuangan (POJK).




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      ASPEK PEMASARAN
      Marketing Aspect


      PANGSA PASAR                                                                   MARKET SHARE

      GMF melayani konsumen bisnis menggunakan pendekatan                            GMF serves business consumers with a business-to-business
      business to business (B2B) dan membagi pangsa pasarnya ke                      (B2B) approach, dividing its market share into several categories
      dalam beberapa kategori yaitu grup afiliasi (GA) dan non-grup                  of affiliate group (GA) and non-affiliate group (NGA), as well as
      afiliasi (NGA), serta pasar global dan domestik.                               global and domestic markets.

      Pangsa pasar global dan domestik yang dilayani GMF dilihat dari                The global and domestic market share is determined by the
      domisili usaha dari klien yang ditangani GMF. Pasar domestik                   domicile of GMF’s clients. The domestic market consists of
      merupakan maskapai penerbangan Indonesia dan perusahaan                        Indonesian airlines and other companies requiring GMF services
      lainnya yang membutuhkan jasa GMF yang beroperasi di wilayah                   operating within Indonesian territory. On the other hand, the
      Indonesia. Sedangkan pasar global merupakan klien internasional                global market comprises international clients conducting
      yang memiliki aktivitas usaha di wilayah Indonesia. GMF memiliki               business activities in Indonesia. GMF holds a strategic advantage
      keunggulan untuk menjangkau klien-klien tersebut karena                        in accessing these clients due to its extensive Domestic
      memiliki Outstation Line Maintenance Domestik di hampir                        Outstation Line Maintenance presence at nearly all airports in
      seluruh bandar udara yang ada di Indonesia. GMF tidak memiliki                 Indonesia. However, it’s worth noting that GMF does not have
      jaringan operasional internasional yang berada di luar wilayah                 an international operational network beyond the territory of
      Indonesia.                                                                     Indonesia.

      Khusus untuk pangsa pasar GA, Perseroan melakukan transaksi                    For GA, the Company is transacting with related parties from
      dengan pihak-pihak berelasi dari Group Garuda Indonesia                        Garuda Indonesia Group as defined in PSAK 7 (2015 revision)
      sebagaimana didefinisikan dalam PSAK 7 (revisi 2015)                           of “Related Party Disclosures”.
      “Pengungkapan Pihak-Pihak Berelasi”.


                                                        Pangsa Pasar Group Afiliasi dan Non-Group Afiliasi
                                                      Market Share by Group Affiliation and Non-Group Affiliation
                                                                       2023                                               2022
                      Uraian                              Jumlah                Komposisi                  Jumlah                     Komposisi
                    Description                             Total              Composition                   Total                   Composition
                                                           (USD)                   %                        (USD)                        %

        GA                                                  286,559,134                   76.8%                 136,678,227                         57.3%

        NGA                                                   86,647,851                  23.2%                102,025,666                          42.7%



      Segmen pasar GA mencakup Garuda Indonesia Group dan                            GA’s market segment includes the Garuda Indonesia Group,
      Perseroan berperan untuk mendukung operasional Group                           and the Company’s role is to support the Group’s operations
      sehingga dapat memberikan pelayanan yang unggul dan nilai                      to provide superior service and added value to its customers.
      tambah kepada para pelanggannya. Pasar NGA merupakan                           The NGA market refers to a market segment outside the Garuda
      segmen pasar di luar Garuda Indonesia Group dari sektor BUMN,                  Indonesia Group, vary from SOEs, private companies, and foreign
      swasta, maupun luar negeri.                                                    customers.

      Pendapatan dari segmen GA masih mendominasi total                              Revenue from the GA segment still dominates the Company’s
      pendapatan Perseroan pada tahun 2023 yaitu sebesar 77,2%.                      total revenue in 2023 at 77.2%. This portion of revenue has
      Porsi pendapatan ini mengalami kenaikan dibandingkan tahun                     increased compared to the previous year. NGA customers
      sebelumnya. Pelanggan NGA sendiri menyumbang 22,8% dari                        alone accounted for 22.8% of the Company’s total revenue in
      total pendapatan Perseroan pada tahun 2023. Hingga akhir                       2023. Until the end of 2023, the Company’s customers in the
      tahun 2023, pelanggan-pelanggan Perseroan di segmen NGA                        NGA segment are international airlines, international cargo
      adalah maskapai internasional, maskapai kargo internasional,                   airlines, lessors, power generation companies, and several
      lessor, perusahaan pembangkit listrik, dan beberapa perusahaan                 other international airlines.
      lainnya.




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Perseroan juga memiliki pangsa pasar berdasarkan pangsa pasar               The Company also has market shares based on global and
global dan domestik. Pangsa pasar global yang dimiliki Perseroan            domestic market shares. The Company’s global market share
mencakup negara-negara di wilayah Asia Tenggara, Asia Timur,                includes countries in Southeast Asia, East Asia, South Asia,
Asia Selatan, Timur Tengah, Eropa, Oceania, Afrika. GMF saat                Middle East, Europe, Oceania, Africa. GMF currently has 69
ini memiliki 69 kantor perwakilan domestik yang tersebar di                 domestic representative offices spread across all major airports
seluruh bandara besar di tanah air dari Sabang sampai Merauke.              in the country from Sabang to Merauke.


                                                                 Pangsa Pasar Global
                                                                 Global Market Share
                                                             2023                                              2022
               Uraian                           Jumlah                  Komposisi               Jumlah                      Komposisi
             Description                         Total                 Composition               Total                     Composition
                                                (MUSD)                     %                    (MUSD)                         %

 Pendapatan GMF                                           373                   0.43%                       238                           0.3%
 Revenue GMF

 Pendapatan Kompetitor dari Pasar                    87 ,222                     99.6%                    78,374                         99.7%
 Global
 Competitor Income from the
 Global Market

 Jumlah Pendapatan Industri
 MRO dari Pasar Global
                                                     87,595                    100.0%                    78,612                        100.0%
 Total MRO Industry Revenues from
 Global Markets



Pangsa pasar global GMF tahun 2023 diperkirakan sebesar 0,4%,               GMF’s global market share in 2023 is estimated to be 0.4%,
yang mengalami kenaikan apabila dibandingkan dengan pangsa                  which is higher than the global market coverage in 2022. The
pasar global tahun 2022. Perubahan tersebut disebabkan oleh                 change occurred due to the recovery of the aviation market
pulihnya pasar aviasi pasca pandemi.                                        after the pandemic.

Perseroan melakukan kegiatan pemasaran melalui persaingan                   The Company conducts marketing activities through fair
yang sehat dan menghindari praktik monopoli. Sepanjang tahun                competition and avoids monopolistic practices. Throughout
2023 tidak terjadi insiden ketidakpatuhan terkait informasi dan             2023, there were no incidents of non-compliance related to
pelabelan produk serta jasa yang dilakukan oleh Perseroan.                  information and labelling of products and services carried out
[417-2]                                                                     by the Company. [417-2]


                                                             Pangsa Pasar Domestik
                                                              Domestic Market Share
                                                             2023                                              2022
               Uraian                           Jumlah                  Komposisi               Jumlah                      Komposisi
             Description                         Total                 Composition               Total                     Composition
                                                (MUSD)                     %                    (MUSD)                         %

 Pendapatan GMF                                           373                   25.26%                       173                           16%
 Revenue GMF

 Pendapatan Kompetitor dari Pasar                         931                    74.7%                      896                            84%
 Domestic
 Competitor Income from the
 Global Market

 Jumlah Pendapatan Industri
 MRO dari Pasar Domestic
                                                         1,246               100.00%                      1,069                      100.00%
 Total MRO Industry Revenues from
 Domestic Markets



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                                                                                                           Management Discussion and Analysis




      Pangsa pasar domestik GMF tahun 2023 diperkirakan sebesar            GMF’s domestic market share in 2023 is estimated at 25%, an
      25%, meningkat dibandingkan dengan perkiraan pangsa pasar            increase compared to the estimated domestic market share
      domestik tahun 2022.                                                 in 2022.

      STRATEGI DAN KINERJA PEMASARAN                                       MARKETING STRATEGIES AND
                                                                           PERFORMANCE

      Strategi pemasaran Perseroan pada tahun 2023 bertujuan               The Company’s marketing strategy in 2023 was set with
      untuk menarik minat klien baru dan menjaga loyalitas klien           the objective to attract new clients and maintain the loyalty
      existing yang telah direalisasikan melalui berbagai aktivitas        of existing clients, which has been realized through various
      sebagai berikut:                                                     activities as follows:

      1. Melakukan pengembangan pasar ke commercial aircraft ke            1. Market development to cover commercial aircraft including
         pasar business jet dan lessor                                        business jet and lessors.
      2. Melakukan diversifikasi pasar secara agresif di luar commercial   2. Aggressively diversify into markets outside of commercial
         aircraft, menjangkau industri militer dan power services             aircraft, covering the military industry and power services
      3. Meningkatkan pendapatan segmen non-afiliasi melalui               3. Increasing non-affiliated segment revenue through win-
         strategi win-back caotive customer dan akuisisi pelanggan            back strategy of caotive customers and acquisition of new
         baru dengan kondisi keuangan yang baik                               customers with good financial standing
      4. Melakukan strategi retensi pelanggan demi meningkatkan            4. Conducting customer retention strategy to increase share
         share of wallet pelanggan saat ini                                   of wallet of existing customers

      Di segmen pasar GA, Perseroan melakukan aktivitas bisnisnya          For the GA market, the Company conducting business to
      untuk mendukung operasional Garuda Indonesia sehingga dapat          support Garuda Indonesia in providing superior services that
      memberikan pelayanan yang unggul dan nilai tambah kepada             have added values for the customers. The Company serves
      para pelanggannya. Perseroan melayani pasar NGA di luar Group        the NGA market outside of Garuda Indonesia Group covering
      Garuda Indonesia yang mencakup berbagai perusahaan baik dari         various companies in SOE, private sectors, and international
      sektor BUMN, swasta maupun luar negeri. Hingga akhir tahun           companies. By the end of 2023, the Company’s clients from
      2023, klien di segmen NGA adalah maskapai kargo internasional,       the NGA sector are international cargo airlines, lessors, power
      lessor, perusahaan pembangkit listrik, dan beberapa maskapai         generation companies, and several other international airlines.
      internasional lainnya. Pangsa pasar internasional yang dimiliki      The international market coverage consists of countries in
      Perseroan mencakup negara-negara di wilayah Asia Tenggara,           Southeast Asia, East Asia, South Asia, Middle East, Europe,
      Asia Timur, Asia Selatan, Timur Tengah, Eropa, Oceania, Afrika.      Oceania, Africa.

      POSISI GMF DI PASAR MRO                                              GMF POSITION IN MRO MARKET

      Berdasarkan penjelasan mengenai pangsa pasar GMF, bila               Based on the explanation of GMF’s market share, when compared
      dibandingkan dengan pemain MRO lainnya secara nasional, maka         to other MRO players nationally, GMF occupies the first position,
      GMF menempati posisi pertama, dengan pangsa pasar 25.26%.            with a market share of 25.26%.

      Bila dibandingkan dengan pangsa pasar internasional,                 When compared to international market share, GMF’s position
      posisi GMF dibandingkan pemain MRO lainnya secara global             compared to other MRO players globally ranks eighth, with a
      menempati posisi ke delapan, dengan pangsa pasar 0.43%               market share of 0.43% internationally.
      secara internasional.




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                                                TINJAUAN OPERASI PER SEGMEN USAHA
                                                                                      Operational Review by Business Segment


Penyusunan laporan keuangan Perseroan dilakukan berdasarkan                         The Company adopted PSAK 5 (2015 Adaptation) on Operating
PSAK 5 (Penyesuaian 2015) tentang Segmen Operasi. Perseroan                         Segment in preparing the financial statements. The Company
melaporkan segmen-segmen berdasarkan jenis jasa yang                                reports segments based on types of services, maintenance and
diberikan yaitu pemeliharaan dan perbaikan pesawat airframe,                        repair services for airframe, engine and component, aircraft and
engine dan component, jasa pemeliharaan dan perbaikan                               line maintenance repair and technical ground handling services,
pesawat line maintenance dan technical ground handling,                             and other operations from subsidiaries. The Company does not
serta operasi lain-lain yang didapatkan dari kegiatan entitas                       report performance based on geographical area.
anak. Perseroan tidak melaporkan informasi terkait kinerja
berdasarkan daerah geografis.

Berikut disampaikan struktur pendapatan Perseroan yang                              The following is the information on revenue structure that
menggambarkan skala bisnis dan kontribusi masing-masing                             describes the Company’s business scale and contribution of
segmen terhadap keseluruhan pendapatan GMF di tahun 2022.                           each segment against the entire revenues of GMF in 2022.


                                         Jumlah dan Kontribusi Segmen Primer Terhadap Pendapatan GMF
                                           Number and Contribution of Primary Segments to GMF Revenues
                                                                                                                         Kenaikan (Penurunan)
                                           2023                                         2022
                                                                                                                          Increase (Decrease)

      Segmen                  Jumlah                Kontribusi              Jumlah              Kontribusi            Nominal             Persentase
      Segment                   Total              Contribution               Total            Contribution           Nominal             Percentage
                               (USD)                   (%)                   (USD)                 (%)                 (USD)                  (%)

                                   (1)                  (2)                   (3)                  (4)                 (4 = 3-1)            (5 = 4/3)

 Reparasi dan                  288,311,230                    77.25%          174,804,710                73.23%         113,506,520                64.93%
 Overhaul
 R e p a r at i o n s &
 Overhaul

 Perawatan                         65,275,499                 17.49%          44,128,043                 18.49%           21,147,456               47.92%
 Maintenance

 Operasi lain-lain                 19,620,255                 5.26%            19,771,140                8.28%             (150,885)               (0.76%)
 Other Operations

 Jumlah
 Pendapatan                   373,206,984                     100%          238,703,893             100.00%            134,503,091                56.35%
 Total Revenues


                                                              Komposisi Pendapatan Segmen
                                                              Revenue Composition by Segment
                                                5,26%                                                     8,28%

                          17,49%
                                                                   77,25%                                                    73,23%

                                                                                18,49%
                                           2023                                                          2022




                                   Reparasi dan Overhaul                    Perawatan                      Operasi Lain-lain
                                   Reparations and Overhaul                 Maintenance                    Other Operations




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                                                                                                                             Management Discussion and Analysis




      Pada tahun 2023, komposisi pendapatan terbesar masih                              In 2023, the largest revenue composition is still dominated by
      didominasi oleh jasa reparasi dan overhaul sebesar 77.25%, naik                   repair and overhaul services at 77.25%, rising from the previous
      dari komposisi tahun sebelumnya sebesar 73.23%. Peningkatan                       year’s composition of 73.23%. The increase in the contribution
      kontribusi segmen ini dipengaruhi oleh adanya pekerjaan                           of this segment was influenced by the aircraft reactivation work
      reaktivasi pesawat dari Garuda Group.                                             of the Garuda Group.

      Selain itu, penurunan komposisi pendapatan terlihat dari segmen                   In addition, a decrease in revenue composition was seen from
      perawatan dan operasi lain-lain masing-masing sebesar 17.49% dan                  the maintenance segment and other operations by 17.49% and
      5.26% dibandingkan tahun sebelumnya. Meskipun secara komposisi                    5.26% respectively compared to the previous year. Despite the
      turun, namun segmen perawatan mengalami peningkatan nilai                         decrease in composition, the maintenance segment experienced
      sebesar 47.92% dibandingkan tahun sebelumnya.                                     an increase in value of 47.92% compared to the previous year.

      Perseroan membagi segmen pasar yang dilayaninya berdasarkan                       The Company divides its service based on the affiliated group
      group afiliasi (GA) dan non-group afiliasi (NGA). Kegiatan usaha                  (GA) and non-affiliated group (NGA) market segments. The
      yang dikembangkan Perseroan dan profitabilitas masing-masing                      activities that the Company was developing and the profitability
      segmen diuraikan di bawah ini.                                                    of each segment are as follows.

      SEGMEN REPARASI DAN OVERHAUL                                                      REPARATION AND OVERHAUL

                                                                Tiga Jenis Aktivitas Operasional
                                                               Three Types of Operational Activities




                        Airframe                                             Engine                                  Component

      AIRFRAME MAINTENANCE                                                              AIRFRAME MAINTENANCE
      Perseroan memiliki 3 hangar untuk melakukan sejumlah aktivitas                    The Company has 3 hangars to perform several activities at
      bisnis di Airframe Maintenance dengan kapasitas produksi                          Airframe Maintenance with a production capacity that can
      untuk menampung 5 pesawat berbadan lebar dan 15 pesawat                           accommodate 5 wide-body aircraft and 15 small-body aircraft
      berbadan kecil secara bersamaan. Terdapat 1 line khusus untuk                     simultaneously. There is a special line for painting aircraft and
      pengecatan pesawat udara dan workshop.                                            workshops.


                                           GMF memiliki teknisi berpengalaman dan terampil untuk memberikan solusi Airframe Maintenance yang
                                           efektif dan efisien sebagai berikut:
                                           GMF technicians are very experienced and excellent at what they do to provide the following Airframe
                                           Maintenance solution effectively and efficiently:
              Jenis Pelayanan              Heavy chek rutin | routine heavy check;
              Types of Services            Modifikasi besar | major modification;
                                           Pengecatan eksterior pesawat hingga finishing dekoratif | aircraft exterior painting and decorative finishing;
                                           Renovasi kabin | Cabin refurbishment;
                                           Perbaikan struktur pesawat | large structure repairs;
                                           Perawatan dan overhaul pesawat | aircraft maintenance and overhaul.

                                           GMF mampu menangani berbagai jenis pesawat yang telah mendapatkan sertifikasi dari Direktorat
                                           Kelaikudaraan dan Pengoperasian Pesawat Udara (DKUPPU), Federal Aviation Administration (FAA),
                                           European Aviation Safety Agency (EASA), dan otoritas penerbangan negara lain seperti:
                                           GMF is also capable of handling many types of aircrafts as follows with certifications from Directorate of
           Sertifikasi Pelayanan
                                           Airworthiness and Aircraft Operation (DKUPPU), Federal Aviation Administration (FAA), European Aviation
                   Pesawat
                                           Safety Agency (EASA), and the aviation authorities of other countries:
           Certification of Aircraft
                                           A320s/A320NEO;
                   Services
                                           A330s /A330NEO;
                                           B737CL /B737NG;
                                           B747s;
                                           B777, CRJ1000, ATR72.




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                                                        Jumlah Event Maintenance
                                                         Total Maintenance Events
 Dalam Event
 In Event

    Segmen Pasar               Realisasi 2023          Target 2023           Realisasi 2022          Pertumbuhan              Pencapaian
    Market Segment             Realization 2023        Target 2023           Realization 2022        (Growth) YoY             Achievement

 GA                                               73                 83                         89             (17.98%)                 87.95%

 NGA                                              99                 193                        72              37.50%                  51.30%

 Total                                          172              276                        161                 6.83%                  62.32%



Jika dibandingkan dengan kinerja pada tahun sebelumnya,                    When compared to the performance in the previous year, the
load pekerjaan dari grup afiliasi (GA) menurun sebesar 17.98%.             workload of the affiliated group (GA) decreased by 17.98%.
Sedangkan pada non-grup afiliasi (NGA), terdapat peningkatan               While in the non-affiliated group (NGA), there was an increase
sebesar 37.50%. Kondisi ini terjadi karena pekerjaan perawatan             of 37.50%. This condition occurred due to wide-body aircraft
pesawat berbadan lebar yang juga mempengaruhi pencapaian                   maintenance work which also affected the achievement of
target setiap segmen.                                                      each segment’s target.

ENGINE WORKSHOP                                                            ENGINE WORKSHOP
GMF memiliki fasilitas Engine Workshop, Engine and APU Test                GMF owns various facilities of Engine Workshop, Engine and
Cell, dan Engine Services untuk melakukan perawatan mesin                  APU Test Cell, and Engine Services to maintain the aircraft engine
pesawat dan Auxilliary Power Unit (APU). GMF juga mampu                    and Auxilliary Power Unit (APU). GMF is also capable to perform
melakukan perawatan mesin CFM56-5 untuk pesawat seri                       maintenance on CFM56-5 engine for A320 series aircraft and
A320 dan mesin PW100 untuk pesawat seri ATR.                               PW100 engine for the ATR series aircraft.

Beberapa jenis pesawat yang ditangani GMF adalah:                          Other types of aircraft that GMF can handle are as follows:
• Mesin CFM56-7;                                                           • CFM56-7 engine type;
• APU GTCP85 yang terpasang di pesawat seri B737-                          • GTCP85 APU type installed in B737-300/400/500 series
   300/400/500;                                                               aircraft;
• Mesin CFM56-5;                                                           • CFM56-5 engine type;
• APU GTCP131-9B yang terpasang di pesawat seri B737NG;                    • GTCP131-9B APU installed in B737NG series aircraft;
• APU GTCP131-9A yang terpasang di pesawat seri A320;                      • GTCP131-9A APU installed in A320 series aircraft;
• APU GTCP331-350 untuk pesawat seri A330.                                 • GTCP331-350 APU for A330 series aircraft.


                                                          Jumlah Event Workshop
                                                           Total Workshop Events
 Dalam Event
 In Event

    Segmen Pasar               Realisasi 2023          Target 2023           Realisasi 2022          Pertumbuhan              Pencapaian
    Market Segment             Realization 2023        Target 2023           Realization 2022        (Growth) YoY             Achievement

 GA                                               33                 20                         32               3.13%                165.00%

 NGA                                              10                 40                         36            (72.22%)                 25.00%

 Total                                            43                 60                         68           (36.76%)                   71.67%


Jika dibandingkan dengan kinerja pada tahun sebelumnya, load                When compared to the previous year’s performance, GA’s
pekerjaan dari GA meningkat sebesar 3.13% dibandingkan tahun               workload increased by 3.13% compared to the previous year.
sebelumnya. penurunan load juga terjadi pada NGA sebesar                   NGA’s workload also decreased by 72.22%. This condition
72.22%. Kondisi ini terjadi karena peningkatan utilisasi pesawat           occurred due to increased utilisation of GA aircraft.
GA.




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                                                                                                                                 Management Discussion and Analysis




      COMPONENT SERVICES                                                                     ENGINE WORKSHOP
      Segmen operasi Component Services yang dimiliki GMF telah                              The Component Services of GMF has obtained certifications from
      memperoleh sertifikasi dari DKUPPU, FAA, EASA, dan AS 9100.                            DKUPPU, FAA, EASA, and AS 9100. This segment has several
      Segmen ini memiliki sejumlah fasilitas workshop penting untuk                          workshop facilities that are important for the maintenance
      melakukan perawatan komponen pesawat berbagai seri.                                    of various series of aircraft component. The workshop and
      Workshop dan laboratorium GMF juga telah dilengkapi dengan                             laboratory of GMF have all been equipped with advanced testing
      berbagai peralatan testing berteknologi tinggi untuk menjamin                          technology to guarantee the quality of work. The Company also
      kualitas pekerjaan. Perseroan juga telah menawarkan pelayanan                          offers additional services so that customers are able to book for
      tambahan kepada pelanggan untuk menjaga ketersediaan                                   certain types of material through component pooling.
      pasokan material melalui component pooling.


                                                              Sertifikasi                             Kapabilitas
                    Workshop                                                                                                               Peralatan Testing
                                                         Pelayanan Pesawat                         Repair & Overhaul
                    Workshop                                                                                                               Testing Equipment
                                                    Aircraft Services Certification          Repair & Overhaul Capabilities

        •    Avionics                           •     B737                               •   Airplane instruments                •     ATEC (Automatic Test
        •    Electro Mechanical and             •     B747                               •   Electronic controls                       Equipment Complex)
             Oxygen                             •     A320                               •   Radar and navigation                •     IRIS (Integrated Radio
        •    Wheel Brake & Landing Gear         •     A330                               •   Flight data recorders and gyros           Instrument System)
        •    Calibration and Non                •     B777                               •   Wheel Brake & Landing Gear          •     INS (Inertial Navigation
             Destructive Test (NDT)             •     CRJ1000                                                                          System)
                                                •     ATR72                                                                      •     IDG (Integrated Drive
                                                                                                                                       Generator)
                                                                                                                                 •     Universal Testing Equipments



                                                                         Jumlah Event Services
                                                                          Total Services Events
        Dalam Event
        In Event

            Segmen Pasar              Realisasi 2023                Target 2023                Realisasi 2022            Pertumbuhan                Pencapaian
            Market Segment            Realization 2023              Target 2023                Realization 2022          (Growth) YoY               Achievement

        GA                                            35,387                   30,820                       33,747                      4.86%               114.82%

        NGA                                            4,782                     2,796                       2,443                     95.74%               171.03%

        Total                                         40,169                   33,616                       36,190                    10.99%               119.49%


      Jika dibandingkan dengan kinerja pada tahun sebelumnya,                                When compared to the performance in the previous year,
      load pekerjaan dari grup afiliasi (GA) meningkat sebesar 4.86%.                        the workload of the affiliated group (GA) increased by 4.86%.
      Sedangkan pada non-grup afiliasi (NGA), terdapat peningkatan                           Meanwhile, for the non-affiliated group (NGA), there was an
      sebesar 95.74%. Kondisi ini terjadi karena peningkatan utilisasi                       increase of 95.74%. This was due to an increase in GA aircraft
      pesawat GA yang juga mempengaruhi pencapaian target setiap                             utilisation which also affected the achievement of targets for
      segmen.                                                                                each segment.

      KINERJA KEUANGAN DAN PROFITABILITAS                                                    FINANCIAL PERFORMANCE AND PROFITABILITY

                                                         Kinerja Keuangan Segmen Reparasi dan Overhaul
                                                           Reparations and Overhaul Financial Performance
                                                                                                                          Kenaikan
                                                                                                                                                Pencapaian Target
                                  Realisasi 2023               Realisasi 2022                 Target 2023               (Penurunan)
            Keterangan                                                                                                                                 2023
                                  Realization 2023             Realization 2022               Target 2023              Terhadap 2022
            Description                                                                                                                         Target Achievement
                                       (USD)                        (USD)                        (USD)               Increase (Decrease)
                                                                                                                                                       2023
                                                                                                                           to 2022

        Pendapatan                         288,311,230                   44,128,043                 321,638,898                   64.93%                    89.64%
        Revenues

        (Rugi)/Laba                        15,653,044                   (1,435,208)                  18,054,682                  (40.99%)                   86.70%
        (Loss)/Profit

        Aset Tetap                         129,145,415                  (1,435,208)                 125,496,018                      (2.15%)                102.91%
        Fixed Assets




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                                                Kinerja Keuangan Segmen Reparasi dan Overhaul
                                                  Reparations and Overhaul Financial Performance
                                                                                                           Kenaikan
                                                                                                                               Pencapaian Target
                           Realisasi 2023           Realisasi 2022            Target 2023                (Penurunan)
     Keterangan                                                                                                                       2023
                           Realization 2023         Realization 2022          Target 2023               Terhadap 2022
     Description                                                                                                               Target Achievement
                                (USD)                    (USD)                   (USD)                Increase (Decrease)
                                                                                                                                      2023
                                                                                                            to 2022

 Penyusutan                          18,886,371               1,377,584               16,431,906                  (13.42%)                    114.94%
 Depreciation


Pendapatan dari segmen Reparasi dan Overhaul pada tahun                      Revenue from the Repairs and Overhaul segment in 2023 was
2023 tercatat USD288.31 juta atau meningkat sebesar 64.93%                   USD288.31 million, an increase of 64.93% over the previous year.
dibandingkan tahun sebelumnya. Pencapaian ini 89.64% dari                    This achievement is 89.64% of the 2023 target. The increase was
target tahun 2023. Peningkatan terutama disebabkan oleh                      mainly due to aviation activities recovering after the pandemic
aktivitas penerbangan yang kembali pulih setelah pandemi pada                in the previous year. The Repair & Overhaul segment recorded
tahun sebelumnya. Segmen Repair & Overhaul mencatatkan                       an operating profit of USD15.65 million, a decrease from the
laba usaha sebesar USD15.65 juta, menurun dari laba usaha                    operating profit in the previous year. The operating profit from
pada tahun sebelumnya. Laba usaha yang dicapai segmen ini                    this segment was lower than the target of USD18.05 million.
lebih rendah dari target sebesar USD18.05 juta. Penurunan                    The decrease was due to the provision for trade receivables
disebabkan adanya penyisihan nilai piutang usaha dan aset                    and contract assets to customers. Depreciation decreased by
kontrak kepada pelanggan. Penyusutan menurun sebesar 13.42%                  13.42% compared to the previous year due to fully depreciated
dibandingkan tahun sebelumnya karena adanya aset yang sudah                  assets through 2023.
terdepresiasi penuh sepanjang 2023.

RENCANA PENGEMBANGAN                                                         DEVELOPMENT PLAN
Reparasi & Overhaul tetap menjadi penyumbang pendapatan                      Most of GMF’s revenues still came from the Reparation &
terbesar bagi GMF. Perseroan memandang bahwa segmen                          Overhaul. This segment is still going to be the main foothold
ini akan tetap menjadi tumpuan utama sehingga diperlukan                     and therefore the Company needs a special strategy to improve
strategi khusus untuk mengembangkan kapasitas bisnis dan                     its capacity and revenue.
kinerja pendapatannya.

Pada tahun 2024, Perseroan akan fokus untuk mengembangkan                    In 2024, the Company will focus on developing internal capacity
kapasitas internal sehingga dapat memperkuat posisi bisnis                   to strengthen the position of the repair & overhaul business.
reparation & overhaul. Upaya pengembangan mencakup QCDS                      The development will include QCDS Improvement, Operational
Improvement, Operational Cost Eficiency, mengembangkan                       Cost Efficiency, developing InHouse Capability, and accelerating
InHouse Capability, dan mengakselerasi pengembangan SDM.                     HR development.

SEGMEN PERAWATAN                                                             MAINTENANCE

GMF memberikan jasa Line Maintenance untuk penerbangan                       GMF provides Line Maintenance services for domestic and
domestik dan internasional melalui lebih dari 67 line station di             international flights through more than 67 line stations that
seluruh Indonesia, terutama di Bandar Udara Soekarno Hatta,                  the Company owns all over Indonesia, especially in Soekarno
Cengkareng, Banten. GMF juga melayani sejumlah area di seluruh               Hatta Airport, Cengkareng, Banten. GMF also serves in a number
dunia termasuk Jeddah, Medinah, Kuala Lumpur, Singapura,                     of areas abroad including Jeddah, Medinah, Kuala Lumpur,
dan Melbourne.                                                               Singapore, and Melbourne.



              Jenis Perawatan Pesawat                     Sertifikasi Pelayanan Pesawat            Fasilitas MCC (Maintenance Control Center)
               Types of Aircraft Services                Specifications of Aircraft Services        MCC (Maintenance Control Center) Facilities

 •   Pre-Flight Check                                    •   B737                              Memantau operasional perawatan pesawat udara
 •   Transit Check                                       •   B747                              guna mengurangi perawatan yang tidak terjadwal
 •   Daily Check                                         •   B777                              dan keterlambatan teknis.
 •   A Check (perawatan sampai dengan 600 jam            •   B787                              Monitor the operation of aircraft maintenance to
     terbang | maintenance up to 600 flight hours)       •   A320                              reduce unscheduled maintenance and technical
 •   Transit semalam dan situasi darurat AOG (Pesawat    •   A330                              delay.
     di Darat atau Aircraft on Ground) | Overnight       •   A350
     transit and emergency AOG (Aircraft on Ground)      •   CRJ1000
                                                         •   ATR72




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                                                                          Jumlah Event Services
                                                                           Total Services Events
        Dalam Event
        In Event

          Segmen Pasar                Realisasi 2023                 Target 2023           Realisasi 2022            Pertumbuhan              Pencapaian
          Market Segment              Realization 2023               Target 2023           Realization 2022          (Growth) YoY             Achievement

        GA                                             184,161                235,419                 126,505                   99.85%                  78.23%

        NGA                                            14,752                   27,812                  19,352                (99.92%)                  53.04%

        Total                                         198,913                263,231                 145,857                   99.86%                   75.57%



      Secara keseluruhan, kinerja segmen bisnis ini mengalami                            Overall, the performance of this business segment increased
      peningkatan sebesar 99.86% dibandingkan tahun sebelumnya                           by 99.86% compared to the previous year which was more
      yang lebih dipengaruhi oleh optimalnya utilisasi pesawat GA.                       influenced by the optimal utilisation of GA aircraft.

      KINERJA KEUANGAN DAN PROFITABILITAS                                                FINANCIAL PERFORMANCE AND PROFITABILITY

                                                                  Kinerja Keuangan Segmen Perawatan
                                                                    Maintenance Financial Performance
                                                                                                                      Kenaikan
                                                                                                                                         Pencapaian Target
                                  Realisasi 2023                 Realisasi 2022           Target 2023               (Penurunan)
           Keterangan                                                                                                                           2023
                                  Realization 2023               Realization 2022         Target 2023              Terhadap 2022
           Description                                                                                                                   Target Achievement
                                       (USD)                          (USD)                  (USD)               Increase (Decrease)
                                                                                                                                                2023
                                                                                                                       to 2022

        Pendapatan                         65,275,499                    44,128,043             55,393,448                    47.92%                    117.84%
        Revenues

        (Rugi)/Laba                          13,138,126                  (1,435,208)            (3,030,272)                 1,015.42%                (433.56%)
        (Loss)/Profit

        Aset Tetap                           2,407,856                    3,001,662               3,241,158                  (19.78%)                   74.29%
        Fixed Assets

        Penyusutan                            1,426,991                    1,377,584              2,331,239                    3.59%                     61.21%
        Depreciation


      Pendapatan dari segmen Perawatan pada tahun 2023 tercatat                          Revenue from the Maintenance segment in 2023 was recorded
      USD65.27 juta atau meningkat sebesar 47.92% dibandingkan                           at USD65.27 million, higher by 47.92% compared to the previous
      tahun sebelumnya. Pencapaian ini 117.84% dari target tahun                         year. This achievement reached 117.84% of the 2023 target.
      2023. Peningkatan terutama disebabkan pleh peningkatan                             The increase was mainly due to an increase in the number of
      jumlah pesawat yang dioperasikan pihak berelasi. Segmen ini                        aircraft operated by related parties. This segment recorded an
      mencatatkan peningkatan laba usaha menjadi USD13.14 juta                           increase in operating profit to USD13.14 million compared to the
      dibandingkan tahun sebelumnya. Dari sisi target, laba usaha                        previous year. In terms of target, the achievement was higher
      yang dibukukan lebih tinggi dari target, yaitu USD3.03 juta.                       than the target of USD3.03 million. The increase in profit was
      Peningkatan laba dipengaruhi oleh inisiatif tim Manajemen                          influenced by the Management team’s initiatives in making the
      dalam memastikan kegiatan produksi berjalan lebih efisien                          Company operate more efficient while keeping the production
      tanpa mengurangi kualitas pengerjaan.                                              at its highest quality.

      RENCANA PENGEMBANGAN                                                               DEVELOPMENT PLAN
      Pada tahun 2024, Perseroan akan berfokus pada meningkatkan                         In 2024, the Company will focus on improving internal
      kinerja internal (pemenuhan SLA dan QCDS) dan ekspansi                             performance (SLA and QCDS fulfilment) and NGA customer
      pelanggan NGA. Selain itu, Perseroan juga akan menyesuaikan                        expansion. In addition, the Company will also adjust the capacity
      kapasitas segmen bisnis perawatan mengikuti dinamika bisnis                        of the maintenance segment following the latest business
      terkini.                                                                           dynamics.




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SEGMEN OPERASI LAIN-LAIN                                                  OTHER OPERATION

Perseroan menjalankan segmen Operasi Lain-lain yang antara                The Company has other segment called Other Operations
lain mencakup Manpower Supply serta Facility Management                   covering Manpower Supply and Facility Management which
melalui anak usahanya yaitu PT Garuda Daya Pratama Sejahtera              done by its subsidiary, PT Garuda Daya Pratama Sejahtera (refer
(selanjutnya disingkat “PT GDPS” atau “GDPS”).                            to as “PT GDPS” or “GDPS”).

KINERJA KEUANGAN DAN PROFITABILITAS                                       FINANCIAL PERFORMANCE AND PROFITABILITY

                                                  Kinerja Keuangan Segmen Operasi Lain-Lain
                                                      Other Segment Financial Performance
                                                                                                     Kenaikan
                                                                                                                         Pencapaian Target
                           Realisasi 2023           Realisasi 2022         Target 2023             (Penurunan)
    Keterangan                                                                                                                  2023
                           Realization 2023         Realization 2022       Target 2023            Terhadap 2022
    Description                                                                                                          Target Achievement
                                (USD)                    (USD)                (USD)             Increase (Decrease)
                                                                                                                                2023
                                                                                                      to 2022

 Pendapatan                         19,620,255               19,771,140            24,121,617                (0.76%)                    81.34%
 Revenues

 (Rugi)/Laba                        (1,089,770)               (221,507)             379,767                 391.98%                  (286.96%)
 (Loss)/Profit

 Aset Tetap                            202,247                 253,197               697,179                (20.12%)                    29.01%
 Fixed Assets

 Penyusutan                              59,391                80,563                94,594                 (26.28%)                    62.79%
 Depreciation


Pendapatan dari segmen Operasi Lain-lain pada tahun                       Revenue from the Other Operations segment in 2023 was
2023 tercatat USD19.62 juta atau menurun sebesar 0.76%                    USD19.62 million, lower by 0.76% compared to the previous
dibandingkan tahun sebelumnya. Pencapaian ini setara dengan               year. This achievement is equivalent to 81.34% of the 2023
81.34% dari target tahun 2023. Rugi usaha segmen ini menurun              target. The operating loss of this segment decreased by 391.98%
sebesar 391.98% menjadi negatif USD1.1 juta dibandingkan                  to negative USD1.1 million compared to the previous year. In
tahun sebelumnya. Dari sisi target, tingkat laba ini belum                terms of target, this level of profit has not met the target, with
memenuhi target, dengan pencapaian sebesar 286.96% dari                   an achievement of 286.96% of the target. The decrease in profit
target. Penurunan laba antara lain dipengaruhi oleh penyisihan            was partly influenced by the allowance for trade receivables.
nilai piutang usaha. Penyusutan menurun sebesar 26.28%                    Depreciation decreased by 26.28% compared to the previous
dibandingkan tahun sebelumnya dikarenakan adanya aset yang                year due to fully depreciated assets throughout 2023.
sudah terdepresiasi penuh sepanjang 2023.

RENCANA PENGEMBANGAN                                                      DEVELOPMENT PLAN
Pada tahun 2024, Perseroan akan melanjutkan rencana penjualan             In 2024, the Company will continue its plan to sell its ownership
saham kepemilikan atas PT GDPS. PT GDPS ditargetkan untuk                 stake in PT GDPS. It is expected that PT GDPS will be able to
dapat lebih mengembangkan bisnis di luar Garuda Group (melaui             further develop its business outside the Garuda Group (through
network dan financial support dari mitra.                                 network and financial support from partners).

Selain itu, Perseroan juga akan melakukan pengembangan bisnis             In addition, the Company will also develop the IGTE business
IGTE melalui upaya peningkatan penetrasi pasar, peningkatan               through various improvement efforts in terms of market
kapabilitas internal, dan juga pendekatan ke manufacturer dan             penetration and internal capabilities, and also approaching
OEM untuk dapat memiliki kontrak pekerjaan jangka panjang.                manufacturers and OEMs to secure long-term contracts.




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      PENINGKATAN YANG MATERIAL DIKAITKAN                            MATERIALS INCREASE RELATED TO SALES
      DENGAN JUMLAH BARANG YANG DIJUAL/                              VOLUME/NEW PRODUCTS
      BARANG BARU

      Berdasarkan informasi kinerja per segmen operasi, dapat        Based on information regarding the performance of each
      disimpulkan bahwa terjadi peningkatan pendapatan dari          business segment, it can be concluded that there has been an
      banyaknya jasa yang diberikan Perseroan untuk seluruh segmen   increase in revenue from the various services provided by the
      yang dilayaninya: GA, NGA, domestik, dan internasional. Jasa   Company across all segments it serves: GA, NGA, domestic, and
      MRO yang diberikan GMF untuk para kliennya merupakan jasa      international. The MRO services provided by GMF to its clients
      yang tercakup dalam setiap segmen operasi seperti penjelasan   are included in each operating segment, as previously explained.
      sebelumnya. Tidak terdapat layanan baru yang diberikan GMF     There were no new services provided by GMF in 2023 that would
      pada tahun 2023 yang memiliki kontribusi material terhadap     have a material contribution to the overall business revenue.
      pendapatan usaha secara keseluruhan.

      Secara garis besar segmen GA/NGA mengalami peningkatan         Overall, the GA/NGA segment experienced a significant increase,
      cukup signifikan yaitu sebesar 56% pada tahun 2023             namely by 56% in 2023 compared to the previous year, thereby
      dibandingkan tahun sebelumnya sehingga mendorong               driving the revenue increase in 2023 to reach USD373.2 million.
      peningkatan pendapatan tahun 2023 mencapai USD373,2 juta.




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                                                                                      TINJAUAN KEUANGAN
                                                                                                                   Financial Review


Analisa dan pembahasan kinerja keuangan pada Laporan                      Analysis and discussion of financial performance in this Integrated
Terintegrasi ini mengacu pada Laporan Keuangan untuk tahun-               Report refer to the Financial Statements for the years ended on
tahun yang berakhir 31 Desember 2023 dan 31 Desember 2022                 December 31, 2023, and December 31, 2022, that have been
yang telah diaudit oleh Kantor Akuntan Publik Tanudiredja, Wibisana,      audited by the Public Accounting Firm Tanudiredja, Wibisana,
Rintis & Rekan. Pengungkapan laporan keuangan konsolidasian               Rintis & Associates. The presentation and disclosure of the
Perseroan disusun dan disajikan sesuai Standar Akuntansi Keuangan         Company’s consolidated financial statements were prepared and
di Indonesia, yaitu Pernyataan Standar Akuntansi Keuangan (PSAK),         presented in accordance with Indonesian Financial Accounting
yang diterbitkan oleh Ikatan Akuntan Indonesia (IAI).                     Standards, the Statement of Financial Accounting Standards
                                                                          (PSAK), issued by the Indonesian Institute of Accountants (IAI).

LAPORAN POSISI KEUANGAN                                                   CONSOLIDATED FINANCIAL POSITION
KONSOLIDASIAN

                                                                                                             Kenaikan (Penurunan)
                  Posisi Keuangan                          2023                     2022                      Increase (Decrease)
                  Financial Position                       (USD)                    (USD)               Nilai Nominal           Persentase
                                                                                                        Nominal Value           Percentage

 Aset
 Assets

 Aset Lancar                                                  246,615,548             200,965,297             45,650,251                  22.72
 Current Assets

 Aset Tidak Lancar                                           203,405,555               189,693,413              13,712,142                 7.23
 Non Current Assets

 Jumlah Aset                                                 450,021,103               390,658,710            59,362,393                  15.20
 Total Assets

 Liabilitas dan Ekuitas
 Liability & Equity

 Liabilitas Jangka Pendek                                     279,717,345             248,830,982             30,886,363                  12.41
 Current Liabilities

 Liabilitas Jangka Panjang                                   481,465,660               472,849,048               8,616,612                 1.82
 Non-Current Liability

 Jumlah Liabilitas                                            761,183,005             721,680,030             39,502,975                   5.47
 Total Liabilities

 Jumlah Ekuitas                                               (311,161,902)           (331,021,320)            19,859,418                (6.00)
 Total Equity

 Jumlah Liabilitas dan Ekuitas                               450,021,103               390,658,710            59,362,393                  15.20
 Total Liability and Equity


Jumlah aset pada tahun 2023 tercatat sebesar USD450,02 juta,              Total assets in 2023 were recorded at USD450.02 million, higher
meningkat 15,19% dibandingkan pencapaian tahun 2022 yang                  by 15.19% compared to the achievement in 2022 which mainly
utamanya terjadi karena peningkatan pada aset lancar.                     occurred due to an increase in current assets.

Jumlah liabilitas pada tahun 2023 tercatat sebesar USD761,18              Total liabilities in 2023 were recorded at USD761.18 million,
juta, meningkat 6.00% dibandingkan pencapaian tahun 2022                  higher by 5.48% compared to the achievement in 2022 which
yang utamanya terjadi karena adanya penerimaan uang muka                  was mainly due to the receipt of advances for Garuda and Citilink
proyek reaktivasi pesawat Garuda dan Citilink.                            aircraft reactivation projects.

Ekuitas Perseroan pada tahun 2023 tercatat sebesar negatif                The Company’s equity in 2023 was recorded at negative
USD311,16 juta, meningkat 6.00% dibandingkan pencapaian                   USD311.16 million, higher by 6.00% compared to the achievement
tahun 2022. Peningkatan ini sejalan dengan keuntungan bersih              in 2022. This increase is in line with the net profit in the current
yang dicatatkan oleh Perseroan pada tahun berjalan.                       year.


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      ASET – ASET LANCAR                                                  ASSETS – CURRENT ASSETS

                                                                                                              Kenaikan (Penurunan)
                                                                                                               Increase (Decrease)
                                 Uraian                       2023                    2022
                               Description                    (USD)                   (USD)             Nilai Nominal           Persentase
                                                                                                        Nominal Value           Percentage
                                                                                                            (USD)                   (%)

        Kas dan Setara Kas                                       21,051,033               5,103,013           15,948,020                 312.52
        Cash and Cash Equivalents

        Kas dan Setara Kas yang Dibatasi Penggunaannya                358,975              351,784                   7,191                 2.04
        Restricted Cash and Cash Equivalents

        Investasi Jangka Pendek                                       58,840                      -               58,840                       -
        Short-Term Investment

        Piutang Usaha                                            56,997,238             38,100,082              18,897,156                49.60
        Accounts Receivable

        Aset Kontrak                                            50,704,629              60,307,639            (9,603,010)                (15.92)
        Contract Assets

        Piutang Lain-Lain                                                   -              189,549              (189,549)              (100.00)
        Other Receivables

        Persediaan                                               74,018,579             56,518,433             17,500,146                 30.96
        Inventory

        Uang Muka dan Biaya Dibayar Dimuka                      40,704,250              34,598,310              6,105,940                  17.65
        Advances and Prepaid Expenses

        Pajak Dibayar Dimuka                                     2,722,004               5,796,487            (3,074,483)               (53.04)
        Prepaid Taxes

        Jumlah Aset Lancar                                      246,615,548            200,965,297             45,650,251                 22.72
        Total Current Assets


      Jumlah aset lancar pada tahun 2023 adalah sebesar USD246,6          Total current assets in 2023 amounted to USD246.6 million, an
      juta, naik 22.72% dibandingkan jumlah pada tahun sebelumnya         increase of 22.72% compared to the amount in the previous year
      yang utamanya disebabkan oleh masuknya uang muka dari               due to advances from the reactivation of Garuda and Citilink
      reaktivasi pesawat Garuda dan Citilink dan peningkatan              aircrafts and an increase in inventory related to the reactivation
      persediaan terkait proyek reaktivasi yang akan selesai pada         project which will be completed in 2024.
      tahun 2024.

      KAS DAN SETARA KAS                                                  CASH AND CASH EQUIVALENTS
      Kas dan setara kas mencakup kas, kas di bank, dan deposito          The cash and cash equivalents consist of cash, cash in banks,
      berjangka dengan jangka waktu jatuh tempo tiga bulan atau           and time deposits with maturities over three months or less.
      kurang. Jumlah kas dan setara kas tahun 2023 tercatat sebesar       The amount of cash and cash equivalents in 2023 amounted
      USD21.05 juta, meningkat 312.52% atau setara dengan USD15.95        to USD21.05 million, which was 312.52% higher compared to
      juta dibandingkan tahun sebelumnya karena penerimaan uang           the previous year mainly due to advances for the reactivation
      muka dari reaktivasi pesawat Garuda dan Citilink.                   of Garuda and Citilink aircrafts.

      KAS DAN SETARA KAS YANG DIBATASI                                    RESTRICTED CASH AND CASH EQUIVALENTS
      PENGGUNAANNYA
      Kas dan setara kas yang dibatasi penggunaannya adalah kas           Restricted cash and cash equivalents are cash and cash
      dan setara kas yang telah ditentukan penggunaannya atau             equivalents that have been designated for certain use or those
      yang tidak dapat digunakan secara bebas. Jumlah kas dibatasi        that cannot be used freely. The amount of restricted cash in 2023
      penggunaannya tahun 2023 adalah sebesar USD359 ribu, naik           was USD359 thousand, an increase of 2.04% compared to the
      2.04% dibandingkan tahun sebelumnya akibat adanya jaminan           previous year due to performance guarantee for IGTE project.
      pelaksanaan proyek IGTE.

      PIUTANG USAHA                                                       ACCOUNTS RECEIVABLE
      Piutang usaha merupakan jumlah yang terutang dari pelanggan         Trade receivables represent amounts due from customers
      atas jasa dalam kegiatan usaha normal. Jumlah piutang usaha         for services in the normal course of business. Total trade
      tahun 2023 mencapai USD56.99 juta, meningkat 49.6%                  receivables in 2023 reached USD56.99 million, an increase of



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dibandingkan tahun sebelumnya. Peningkatan ini sejalan                 49.6% compared to the previous year. This increase was in line
dengan peningkatan pendapatan sepanjang tahun berjalan                 with the increase in revenue during the year which was mainly
yang utamanya bersumber dari reaktivasi pesawat Garuda                 sourced from the reactivation of Garuda and Citilink aircrafts.
dan Citilink.

ASET KONTRAK                                                           CONTRACT ASSETS
Aset kontrak dari pelanggan merupakan biaya jasa pemeliharaan          Contract assets from customers represent the cost of aircraft
dan perbaikan pesawat, dan jasa engineering lainnya yang               maintenance and repair services, and other engineering
terjadi. Jumlah tagihan bruto dari pelanggan tahun 2023                services incurred. Gross billings from customers in 2023
mencapai USD50.70 juta, menurun 15.92% dibandingkan                    totalled USD50.70 million, a decrease of 15.92% compared to
tahun sebelumnya yang disebabkan utamanya karena adanya                the previous year mainly due to finalisation of aircraft projects
penyelesaian proyek pesawat sepanjang tahun 2023.                      during 2023.

PERSEDIAAN                                                             INVENTORY
Persediaan adalah suku cadang yang dimiliki oleh Perseroan             Inventories are spare parts owned by the Company to support
untuk mendukung aktivitas pemeliharaan dan perbaikan                   aircraft maintenance and repair activities, and other engineering
pesawat, dan jasa engineering lainnya kepada pelanggan.                services to customers. Inventories are stated at the lower of
Persediaan dinyatakan berdasarkan nilai yang paling rendah             cost or net realisable value. Cost is determined based on the
antara biaya perolehan atau nilai realisasi bersih. Biaya ditentukan   weighted average method. Net realisable value represents the
berdasarkan metode rata-rata tertimbang. Nilai realisasi bersih        estimated selling price of inventories less estimated costs of
merupakan taksiran harga jual persediaan dikurangi taksiran            completion and costs necessary to sell.
biaya penyelesaian dan biaya yang diperlukan untuk menjual.

Jumlah persediaan - bersih tahun 2023 mencapai USD74.02                Total inventories - net in 2023 reached USD74.02 million, an
juta, meningkat 30.96% dibandingkan tahun sebelumnya yang              increase of 30.96% compared to the previous year due to an
terjadi karena peningkatan persediaan terkait proyek reaktivasi        increase in inventories related to the reactivation project which
yang akan diselesaikan di tahun 2024.                                  will be completed in 2024.

UANG MUKA DAN BIAYA DIBAYAR DIMUKA                                     ADVANCES AND PREPAID EXPENSES
Uang muka dan biaya dibayar dimuka adalah uang dan biaya yang          Advances and prepaid expenses are money and expenses that
sudah dibayarkan dengan manfaatnya yang akan dinikmati di              have been paid with the benefits to be enjoyed in the future
waktu mendatang dalam jangka waktu yang sudah ditentukan.              within a predetermined period of time. Advances and prepaid
Uang muka dan biaya dibayar dimuka mencakup uang muka                  expenses include purchase advances, official travel advances,
pembelian, uang muka perjalanan dinas, dan uang muka lainnya.          and other advances.

Jumlah uang muka dan biaya dibayar di muka tahun 2023                  Total advances and prepaid expenses in 2023 was recorded
tercatat sebesar USD40.70 juta, meningkat 17.65% dibandingkan          at USD40.70 million, an increase of 17.65% compared to the
tahun sebelumnya yang terjadi terutama karena permintaan               previous year which occurred mainly due to requests for
uang muka dari vendor untuk pembelian persediaan atas proyek           advances from vendors for the purchase of supplies for Garuda
reaktivaasi pesawat Garuda dan Citilink.                               and Citilink aircraft reactivation projects.

PAJAK DIBAYAR DIMUKA                                                   PREPAID TAXES
Pajak dibayar dimuka terdiri atas pajak pertambahan nilai (PPN)        Prepaid taxes consist of value added tax (VAT) and corporate
dan pajak penghasilan badan. Jumlah pajak dibayar dimuka tahun         income tax. Total prepaid tax in 2023 reached USD2.72 million,
2023 mencapai USD2.72 juta, menurun 53.04% dibandingkan                a decrease of 53.04% compared to the previous year which was
tahun sebelumnya karena sebagian nilai dari PPN ada yang               mainly due to part of VAT values which has to be classified as
diklasifikasikan sebagai aset tidak lancar.                            non-current assets.

ASET – ASET TIDAK LANCAR                                               ASSETS – NON-CURRENT ASSETS

                                                                                                        Kenaikan (Penurunan)
                                                                                                         Increase (Decrease)
             Uraian                             2023                       2022
           Description                          (USD)                      (USD)                  Nilai Nominal            Persentase
                                                                                                  Nominal Value            Percentage
                                                                                                      (USD)                    (%)

 Piutang Usaha Pihak Berelasi,                          15,049,694                  2,317,043             12,732,651                549.52
 Bagian Tidak Lancar
 Trade Receivables Related
 Parties, Non-Current Portion


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                                                                                                              Kenaikan (Penurunan)
                                                                                                               Increase (Decrease)
                    Uraian                            2023                      2022
                  Description                         (USD)                     (USD)                  Nilai Nominal            Persentase
                                                                                                       Nominal Value            Percentage
                                                                                                           (USD)                    (%)

        Piutang lain-lain                                      3,163,691                          -              3,163,691                   n.m
        Other Receivables

        Uang Muka dan Biaya Dibayar                              413,668                  692,400               (278,732)                (40.26)
        di Muka, Bagian Tidak Lancar
        Advances And Prepaid
        Expenses, Non-Current Portion

        Aset Tetap                                            131,755,518               135,236,551           (3,481,033)                  (2.57)
        Fixed Assets

        Aset Hak Guna                                         34,732,996                39,299,445            (4,566,449)                 (11.62)
        Right-of-use Assets

        Pajak Penghasilan Dibayar                             10,858,192                  5,237,716             5,620,476                  107.31
        Dimuka
        Prepaid Corporate Income
        Taxes

        Aset Pajak Tangguhan                                    7,417,592                6,887,569               530,023                    7.70
        Deferred Tax Assets

        Aset Tidak Lancar Lain-lain                               14,204                    22,689                 (8,485)                (37.40)
        Other Non-Current Assets

        Jumlah Aset Tidak Lancar                          203,405,555                   189,693,413             13,712,142                  7.23
        Total Non-Current Assets



      PIUTANG USAHA PIHAK BERELASI, BAGIAN TIDAK                            TRADE RECEIVABLES RELATED PARTIES, NON-
      LANCAR                                                                CURRENT PORTION
      Piutang usaha pihak berelasi, bagian tidak lancar merupakan           Trade receivables from related parties, non-current portion is the
      hasil restrukturisasi piutang dengan Garuda dan Citililnk. Pada       result of restructuring receivables with Garuda and Citililnk. In
      tahun 2023, jumlah akun ini mencapai USD15.05 juta, meningkat         2023, this account amounted to USD15.05 million, an increase
      549.52% dibandingkan tahun sebelumnya yang terutama terjadi           of 549.52% compared to the previous year which was mainly
      karena adanya kesepakatan rencana pembayaran Citilink menjadi         due to the agreement of Citilink’s payment plan to be long-term.
      jangka panjang.

      ASET TETAP                                                            FIXED ASSETS
      Aset tetap adalah bangunan dan prasarana yang dimiliki                Fixed assets are buildings and infrastructure that are owned
      Perseroan. Aset tetap ini digunakan untuk melakukan                   for the production or supply of goods and services, or for
      aktivitas produksi atau penyediaan barang dan jasa. Demi              administrative purposes, which are presented at fair value, minus
      tujuan administratif, aset tetap disajikan sebesar nilai wajar,       depreciation, based on an evaluation conducted by an external
      dikurangi penyusutan, berdasarkan penilaian yang dilakukan            independent appraiser that has been registered with OJK. The
      oleh penilai independen terdaftar di OJK. Penilaian atas aset         assets are evaluated periodically to ensure that the fair value
      dilakukan secara berkala untuk memastikan bahwa nilai wajar           of the revalued assets does not have material differentiation
      aset yang direvaluasi tidak berbeda secara material dengan            from its carrying amount.
      jumlah tercatatnya.

      Jumlah aset tetap tahun 2023 mencapai USD131.76 juta,                 Total fixed assets in 2023 reached USD131.76 million, a decrease
      menurun 2.57% dibandingkan tahun sebelumnya yang terjadi              of 2.57% compared to the previous year due to additional
      karena adanaya penambahan depresiasi tahun berjalan.                  depreciation in the current year.

      ASET HAK GUNA                                                         RIGHT-OF-USE ASSETS
      Pada saat penerapan PSAK 73, Perseroan mengakui aset                  During the implementation of PSAK 73, the Company recognized
      hak guna dan liabilitas sewa sehubungan dengan sewa yang              the right-of-use assets and lease liabilities related to the lease
      sebelumnya diklasifikasikan sebagai ‘sewa operasi’ berdasarkan        which was previously categorized as ‘operating lease’ based on
      prinsip-prinsip dalam PSAK 30, “Sewa”. Jumlah aset hak guna           the principles within PSAK 30, “Lease”. The Company’s right-of-
      pada tahun 2023 mencapai USD34.73 juta.                               use assets in 2023 reached USD34.73 million.




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ASET PAJAK TANGGUHAN                                                     DEFERRED TAX ASSETS
Aset pajak tangguhan adalah saldo yang timbul akibat perbedaan           Deferred tax assets are balances arising from temporary
temporer antara aset dan liabilitas. Perbedaan ini dapat terjadi         differences between assets and liabilities on a tax basis with
akibat adanya perbedaan antara nilai dasar pajak dengan nilai            the carrying values of assets and liabilities in the consolidated
aset dan liabilitas yang tercatat dalam laporan keuangan                 financial statements.
konsolidasian.

Jumlah aset pajak tangguhan tahun 2023 sebesar USD7.42 juta,             Deferred tax assets in 2023 reached USD7.42 million, an increase
meningkat 7.70% dibandingkan tahun sebelumnya terutama                   of 7.70% compared to the previous year mainly due to an increase
peningkatan pada pengakuan kewajiban imbalan kerja.                      on recognition of employee benefit obligations.

LIABILITAS – LIABILITAS JANGKA PENDEK                                    LIABILITIES – CURRENT LIABILITIES

                                                                                                          Kenaikan (Penurunan)
                                                                                                           Increase (Decrease)
                       Uraian                          2023                       2022
                     Description                       (USD)                      (USD)              Nilai Nominal           Persentase
                                                                                                     Nominal Value           Percentage
                                                                                                         (USD)                   (%)

 Pinjaman Jangka Pendek                                        194,603               16,490,706            (16,296,103)              (98.82)
 Short-Term Loans

 Utang Usaha                                              77,520,352                 99,091,757            (21,571,405)               (21.77)
 Trade Payables

 Utang Lain-Lain                                           6,143,838                   6,371,130             (227,292)                 (3.57)
 Other Payables

 Utang Pajak Lain-Lain                                     6,489,143                  1,882,230              4,606,913               244.76
 Taxes Payable

 Akrual                                                  55,408,500                  64,014,727            (8,606,227)                (13.44)
 Accrual

 Liabilitas Kontrak                                      110,994,585                 39,306,728             71,687,857                182.38
 Contract Liabilities

 Liabilitas Jangka Panjang yang Jatuh Tempo dalam Waktu Satu Tahun
 Current Liabilities of Long-Term Liabilities

 Pinjaman Jangka Panjang                                   9,913,139                  7,843,550             2,069,589                 26.39
 Long-Term Loans

 Liabilitas Imbalan Pasca Kerja                            3,274,853                  2,704,588               570,265                  21.09
 Liabilities for Employees - Benefits

 Liabilitas Sewa - Bagian Jangka Pendek                    9,778,332                  11,125,566            (1,347,234)                (12.11)
 Lease Liabilities - Current Maturities

 Jumlah Liabilitas Jangka Pendek                         279,717,345               248,830,982             30,886,363                   12.41
 Total Short-Term Liabilities


PINJAMAN JANGKA PENDEK                                                   SHORT-TERM LOANS
Pinjaman jangka pendek adalah fasilitas pinjaman dengan jangka           Short-term loans are loan facilities with a period of less than
waktu kurang dari satu tahun yang digunakan Perseroan. Jumlah            one year used by the Company. Total short-term loans in 2023
pinjaman jangka pendek tahun 2023 mencapai USD194.60 ribu,               reached USD194.60 thousand, decreased by 98.82% compared
menurun 98.82% dibandingkan tahun sebelumnya terutama                    to the previous year mainly due to the restructuring of loans to
karena adanya restrukturisasi pinjaman kepada CTBC yang                  CTBC which turned into long-term loans.
kemudian pinjaman jangka panjang.

UTANG USAHA                                                              TRADE PAYABLES
Utang usaha adalah kewajiban membayar barang atau jasa                   Trade payables are obligations to pay for goods or services
yang telah diterima dalam kegiatan usaha normal dari pemasok.            that have been received in the normal course of business from
Jumlah utang usaha tahun 2023 sebesar USD77.52 juta,                     suppliers. Total trade payables in 2023 amounted to USD77.52
menurun 21.77% dibandingkan tahun sebelumnya yang terutama               million, a decrease of 21.77% compared to the previous year
disebabkan oleh restrukturisasi syarat pembayaran utang usaha.           which was mainly due to the restructuring of trade payables
                                                                         payment terms.



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      UTANG LAIN-LAIN                                                     OTHER PAYABLES
      Utang lain-lain adalah akun yang mencatat transaksi dengan          Other payables are accounts that record transactions with
      pihak berelasi berupa dana pelanggan, utang bunga, dan dividen.     related parties in the form of customer funds, interest payable,
      Jumlah utang lain-lain tahun 2023 mencapai USD6.14 juta,            and dividends. Total other payables in 2023 reached USD6.14
      menurun 3.57% dibandingkan tahun sebelumnya yang terutama           million, a decrease of 3.57% compared to the previous year
      terjadi karena adanya penurunan kewajiban bea dan cukai per         which was mainly due to a decrease in customs and excise
      akhir tahun.                                                        liabilities as of year-end.

      UTANG PAJAK LAIN-LAIN
      Utang pajak lain-lain merupakan pajak yang masih harus dibayar,     OTHER TAXES PAYABLE
      termasuk di dalamnya kenaikan yang tercantum dalam surat            Other taxes payable represent accrued taxes, including increases
      ketetapan pajak atau surat sejenisnya berdasarkan peraturan         stated in tax assessment letters or similar letters based on tax
      perundang-undangan perpajakan. Jumlah utang pajak tahun             laws and regulations. Total tax payable in 2023 reached USD6.49
      2023 mencapai USD6.49 juta, meningkat 244.76% dibandingkan          million, an increase of 244.76% compared to the previous year
      tahun sebelumnya yang terutama terjadi karena utang PPh 21          which was mainly due to income tax payable for 2023.
      tahun 2023.

      AKRUAL                                                              ACCRUAL
      Akrual GMF terdiri dari bonus dan tantiem, sewa, kurir dan          GMF accruals consist of bonus and tantiem, rent, courier and
      pengiriman, outsourcing, telepon, listrik dan air, suku cadang,     delivery, outsourcing, telephone, electricity and water, spare
      garansi pemeliharaan, pelatihan, jasa profesional, asuransi         parts, warranty maintenance, training, professional services,
      dan lain sebagainya. Jumlah akrual pada tahun 2023 mencapai         insurance and so on. Total accruals in 2023 reached USD55.41
      USD55.41 juta, menurun 13.44% dibandingkan tahun sebelumnya         million, a decrease of 13.44% compared to the previous year
      yang terutama terjadi karena penyelesaian proyek pada tahun         which mainly occurred due to finalisation of projects in the
      berjalan.                                                           current year.

      LIABILITAS KONTRAK                                                  CONTRACT LIABILITIES
      Liabilitas kontrak adalah imbalan yang dibayarkan oleh pelanggan    The liability of the contract is the payment from the customers
      lebih dari saldo kewajiban pelaksanaan yang telah dipenuhi, yaitu   for routine maintenance, with the amount over the required
      atas pekerjaan perawatan rutin yang penagihannya mengacu            figure, since the collection refers to the realization of flight
      kepada realisasi flight hours berdasarkan kontrak Power by          hours based on Power by the Hour (PBTH).
      the Hour (PBTH).

      Pada tahun 2023, liabilitas kontrak mencapai USD110.99 juta,        In 2023, contract liabilities reached USD110.99 million, an
      meningkat 182.38% dibandingkan tahun sebelumnya terkait             increase of 182.38% compared to the previous year related to the
      dengan penerimaan uang muka proyek reaktivitasi Garuda              receipt of advances for Garuda and Citilink reactivation projects.
      dan Citilink.

      PINJAMAN JANGKA PANJANG JATUH TEMPO DALAM                           CURRENT MATURITIES OF LONG-TERM LOANS
      SATU TAHUN                                                          This loan is a loan facility used by the Company with a period
      Pinjaman ini merupakan fasilitas pinjaman yang digunakan            of more than one year, but will mature in the next one year. In
      Perseroan dengan jangka waktu lebih dari satu tahun, namun          2023, this loan amounted to USD9.91 million, an increase of
      akan jatuh tempo pada satu tahun ke depan. Pada tahun               26.39% compared to the previous year which was mainly due
      2023, pinjaman ini mencapai USD9.91 juta, meningkat 26.39%          to the portion of long-term debt maturing within one year.
      dibandingkan tahun sebelumnya yang terutama terjadi karena
      bagian utang jangka Panjang yang jatuh tempo dalam satu tahun.

      LIABILITAS IMBALAN KERJA JATUH TEMPO DALAM                          CURRENT MATURITIES OF LIABILITIES FOR
      SATU TAHUN                                                          EMPLOYEES - BENEFIT
      Liabilitas ini merupakan kewajiban Perseroan kepada karyawan        The Company is obligated to pay post-employment benefits
      atas imbalan pasca-kerja berupa program iuran pasti dan             to employees in the form of a defined contribution plan and
      manfaat pasti. Liabilitas ini juga mencakup imbalan kerja jangka    defined benefit. The liability also covers other long-term benefits
      panjang lain untuk karyawan yang memenuhi persyaratan               for eligible employees. The liability categorized as short-term
      program. Liabilitas yang masuk ke dalam liabilitas jangka pendek    liability is the obligation for employees who are about to retire
      merupakan kewajiban kepada pegawai yang akan memasuki               not more than a year after the reporting date.
      masa pensiun maksimal satu tahun setelah tanggal pelaporan.




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Pada tahun 2023, liabilitas ini mencapai USD3.27 juta, meningkat    In 2023, this liability reached USD3.27 million, an increase of
21.09% dibandingkan tahun sebelumnya. Peningkatan ini sejalan       21.09% compared to the previous year. This increase is in line
dengan demografi pegawai Perseroan saat ini.                        with the Company’s current employee demographics.

LIABILITAS SEWA JATUH TEMPO DALAM SATU TAHUN                        CURRENT MATURITIES OF LEASE LIABILITIES
Pada saat penerapan PSAK 73, Perseroan mengakui aset                During the implementation of PSAK 73, the Company recognizes
hak-guna dan liabilitas sewa sehubungan dengan sewa yang            the rights-of-use assets and lease liabilities in accordance
sebelumnya diklasifikasikan sebagai ‘sewa operasi’ berdasarkan      with the lease whch previously classified as ‘operating lease’
prinsip-prinsip dalam PSAK 30, “Sewa”. Liabilitas sewa diukur       according to the principles of PSAK 30, “Lease”. Lease liability
pada nilai kini dari sisa pembayaran sewa, yang didiskontokan       is measured based on present value, discounted using the
dengan menggunakan suku bunga pinjaman inkremental                  incremental interest rate of the Company on January 1, 2020.
Perseroan pada tanggal 1 Januari 2020. Pada tahun 2023,             In 2023, the Company recorded USD9.78 million in this account.
Perseroan mencatat nilai akun ini mencapai USD9.78 juta.

LIABILITAS – LIABILITAS JANGKA PANJANG                              LIABILITIES – NON-CURRENT LIABILITIES

                                                                                                      Kenaikan (Penurunan)
                                                                                                       Increase (Decrease)
                        Uraian                          2023                  2022
                      Description                       (USD)                 (USD)              Nilai Nominal           Persentase
                                                                                                 Nominal Value           Percentage
                                                                                                     (USD)                   (%)

 Liabilitas Jangka Panjang - Setelah Dikurangi Bagian yang Jatuh Tempo Dalam dalam Satu Tahun
 Long-Term Liabilities - Net of Current Maturities

 Utang Usaha Pihak Berelasi                                 9,755,745                      -             9,755,745                  n.m
 Trade Payables Related Parties

 Utang Usaha Pihak Ketiga                                  14,340,693             19,409,349           (5,068,656)                (26.11)
 Trade Payables Third Parties

 Pinjaman Jangka Panjang                                 390,562,375             391,120,982             (558,607)                 (0.14)
 Long-Term Loans

 Liabilitas Imbalan Kerja                                  24,453,563            22,062,638             2,390,925                  10.84
 Liabilities for Employee Benefits

 Liabilitas Sewa                                           42,353,284            40,256,079             2,097,205                   5.21
 Lease Liabilities

 Jumlah Liabilitas Jangka Panjang                         481,465,660           472,849,048               8,616,612                 1.82
 Total Non-Current Liabilities



UTANG USAHA PIHAK KETIGA                                            TRADE PAYABLES THIRD PARTIES
Sebagai usaha Perseroan dalam menjaga keberlangsungan               As part of the Company’s efforts to maintain its business, the
bisnis, Perseroan melakukan negosiasi terhadap sejumlah             Company has negotiated with suppliers to restructure its short-
pemasok dengan skema merestrukturisasi utang jangka pendek          term debt into long-term debt. In 2023, the Company paid
menjadi utang jangka panjang. Pada tahun 2023, Perseroan            its debt to vendors in accordance with the debt restructuring
berhasil melakukan pelunasan utang vendor sesuai dengan             agreement.
kesepakatan restrukturisasi utang.

PINJAMAN JANGKA PANJANG                                             LONG-TERM LOANS
Pinjaman ini merupakan fasilitas dengan jangka waktu lebih dari     The loan is a facility with more than one year term after deducted
satu tahun setelah dikurangi dengan porsi pinjaman yang akan        from the portion that will be due next year. The decrease of
jatuh tempo dalam satu tahun ke depan. Penurunan pinjaman           0.14% in 2023 to reach USD0.56 million was in line with the
jenis ini sebesar 0.14% pada tahun 2023 mencapai USD0.56 juta       payment schedule of Company’s debt.
sejalan dengan jadwal pembayaran utang Perseroan.

LIABILITAS IMBALAN KERJA                                            LIABILITIES FOR EMPLOYEE BENEFITS
Liabilitas imbalan kerja yang dikategorikan sebagai liabilitas      The liabilities for employee benefits which are categorized
jangka panjang merupakan kewajiban Perseroan kepada                 as long-term liabilities are the Company’s responsibility to
pegawai yang akan pensiun di tahun-tahun berikutnya. Pada           employees who are about to retire in the following years. In
tahun 2023, liabilitas imbalan kerja tercatat sebesar USD24.45      2023, the Company recorded USD24.45 million in this liability,



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      juta, meningkat 10.84% dibandingkan tahun sebelumnya,                  which was 10.84% higher compared to the previous year, aligning
      menyesuaikan dengan perhitungan kembali atas kewajiban                 with the recalculation of liabilities for employee benefits.
      imbalan kerja.

      LIABILITAS SEWA                                                        LEASE LIABILITIES
      Pada saat penerapan PSAK 73, Perseroan mengakui aset                   During the implementation of PSAK 73, the Company recognizes
      hak-guna dan liabilitas sewa sehubungan dengan sewa yang               the rights-of-use assets and lease liabilities in accordance with
      sebelumnya diklasifikasikan sebagai ‘sewa operasi’ berdasarkan         the lease which was previously classified as ‘operating lease’
      prinsip-prinsip dalam PSAK 30, “Sewa”. Liabilitas sewa diukur          according to the principles of PSAK 30, “Lease”. The lease liability
      pada nilai kini dari sisa pembayaran sewa, yang didiskontokan          is measured based on present value, discounted using the
      dengan menggunakan suku bunga pinjaman inkremental                     incremental interest rate of the Company on January 1, 2020.
      Perseroan pada tanggal 1 Januari 2020. Pada tahun 2023,                In 2023, the Company recorded USD42.35 million in this liability,
      Perseroan mencatat nilai liabilitas sewa sebesar USD42.35              which was 5.21% higher compared to the previous year which
      juta, meningkat 5.21% dibandingkan tahun sebelumnya yang               occurred mainly due to additional contract related IT services.
      terutama terjadi karena adanya penambahan kontrak baru
      terkait dengan jasa IT.

      EKUITAS                                                                EQUITY

                                                                                                                  Kenaikan (Penurunan)
                                                                                                                   Increase (Decrease)
                              Uraian                           2023                     2022
                            Description                        (USD)                    (USD)               Nilai Nominal           Persentase
                                                                                                            Nominal Value           Percentage
                                                                                                                (USD)                   (%)

        Modal Saham                                              219,015,655              219,015,655                       0                     0
        Share Capital

        Tambahan Modal disetor                                    62,417,236               62,417,236                       0                     0
        Additional Paid-In Capital

        Rugi Komprehensif Lain                                   (16,353,693)              (16,118,527)              (235,166)                  1.46
        Other comprehensive loss

        Saldo Laba/(Amulasi Kerugian)
        Retained Earnings/(Accomuldated Loss)

          Dicadangkan                                              7,492,540                7,492,540                       0                     0
          Appropriated

          Belum Dicadangkan                                     (583,893,153)            (604,169,616)             20,276,463                 (3.36)
          Unappropriated

        Jumlah Ekuitas yang Dapat Diatribusikan Kepada           (311,321,415)           (331,362,712)             2,0041,297                (6.05)
        Entitas Induk
        Equity Attributable to Owners of the Parent

        Kepentingan Nonpengendali                                      159,513                  341,392              (181,879)              (53.28)
        Non-Controlling Interest

        Jumlah Ekuitas                                           (311,161,902)           (331,021,320)             19,859,418                (6.00)
        Total Equity



      MODAL SAHAM DAN TAMBAHAN MODAL DISETOR                                 SHARE AND ADDITIONAL PAID-IN CAPITAL
      Modal saham Perseroan tidak mengalami perubahan pada tahun             The Company’s share capital did not change in 2023. Therefore,
      2023. Dengan demikian, modal saham dan tambahan modal                  the share and additional paid-in capital in 2023 remain the
      disetor tahun 2023 tetap sama dengan tahun sebelumnya yaitu            same as the previous year amounting to USD219.02 million
      masing-masing senilai USD219.02 juta dan USD62.42 juta.                and USD62.42 million respectively.

      RUGI KOMPREHENSIF LAIN                                                 OTHER COMPREHENSIVE LOSS
      Rugi komprehensif lain merupakan akumulasi penghasilan                 Other comprehensive loss is an accumulation of other income
      lain-lain di luar kegiatan operasional Perseroan. Penghasilan ini      outside the Company’s operational activities. The income
      mencakup keuntungan revaluasi aset tetap setelah dikurangi             consist of gain on revaluation of fixed assets, remeasurement
      penyusutan, pengukuran kembali liabilitas imbalan pasca                of post employment benefit liability, exchange differences due
      kerja, selisih kurs karena penjabaran laporan keuangan, dan            to finasncial statement translation, and others.
      sebagainya.


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Pada tahun 2023, rugi komprehensif lain tercatat sebesar             In 2022, the Company recorded USD16.35 million of other
USD16.35 juta, meningkat 1.46% dibandingkan tahun                    comprehensive loss, which was 1.46% higher compared to the
sebelumnya yang terjadi terutama karena dampak pengukuran            previous year mainly due to remeasurement of liabilities for
kembali imbalan pasca kerja.                                         employee benefits.

SALDO LABA/(DEFISIT)                                                 RETAINED EARNINGS/(DEFICIT)
Saldo defisit adalah sebagian atau keseluruhan laba/(rugi)           Retained earning is part of entire earning/(deficit) that is not
Perseroan yang tidak didistribusikan sebagai dividen kepada          distributed as dividend to shareholders. Part of this retained
pemegang saham. Sebagian saldo laba/(rugi) ini dicadangkan           earning/(loss) is reserved as working capital to purchase fixed
sebagai modal kerja untuk membeli aset tetap maupun                  assets or even allocated to settle debts. The retained earning/
dialokasikan untuk melunasi kewajiban. Saldo laba/(rugi)             (deficit) consist of reserved retained earnings and unreserved
terdiri dari saldo laba dicadangkan serta saldo laba yang belum      retained earnings.
dicadangkan.

Pada tahun 2023, saldo defisit tercatat sebesar USD576.4 juta,       In 2023, the deficit balance was USD576.4 million, decreased
menurun 3.36% dibandingkan tahun sebelumnya yang terjadi             by 3.36% compared to the previous year due to the Company’s
terutama karena kinerja positif Perseroan pada tahun berjalan.       positive performance during the year.

LAPORAN LABA RUGI DAN PENGHASILAN                                    CONSOLIDATED STATEMENTS OF PROFIT OR
KOMPREHENSIF LAIN KONSOLIDASIAN                                      LOSS AND OTHER COMPREHENSIVE INCOME

                                                                                                       Kenaikan (Penurunan)
                                                                                                        Increase (Decrease)
            Uraian                              2023                    2022
          Description                           (USD)                   (USD)                    Nilai Nominal           Persentase
                                                                                                 Nominal Value           Percentage
                                                                                                     (USD)                   (%)

 Pendapatan Usaha                                   373,206,984                  238,703,893           134,503,091                 56.35
 Revenue

 Beban Usaha                                       345,505,584                   213,836,674           131,668,910                  61.57
 Operating Expenses

 Laba Usaha                                             27,701,400                 24,867,219             2,834,181                 11.40
 Operating Income

 Penghasilan Keuangan                                     238,867                     141,760                97.107                68.05
 Finance Income

 Beban Keuangan                                     (23,619,058)                 (22,087,788)           (1,531,270 )                 6.93
 Finance Costs

 Pendapatan Lain-Lain,                                  15,408,815                  2,582,114            12,826,701               496.75
 Bersih
 Other Income, Net

 Laba/(Rugi) Sebelum Pajak                              19,730,024                 5,503,305             14,226,719                258.51
 Penghasilan
 Profit/(Loss) Before Income
 Tax

 Beban Pajak Penghasilan                                  438,665                  (1,874,974)           2,313,639               (123.40)
 Income Tax Expense

 Laba/(Rugi) Tahun Berjalan                             20,168,689                 3,628,331            16,540,358                455.87
 Profit/(Loss) for the Year

 Penghasilan Komprehensif                                (301,340)                 3,810,208             (4,111,548)              (107.91)
 Lain Tahun Berjalan
 Other Comprehensive
 Income for the Year

 J u m l a h Pe n g h a s i l a n                        (235,166)                  3,718,622          (3,953,788 )              (106.32)
 Komprehensif Lain
 Total Other Comprehensive
 Income




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132                                                                                                                      Analisis dan Pembahasan Manajemen
                                                                                                                           Management Discussion and Analysis




                                                                                                                             Kenaikan (Penurunan)
                                                                                                                              Increase (Decrease)
                   Uraian                             2023                                  2022
                 Description                          (USD)                                 (USD)                      Nilai Nominal           Persentase
                                                                                                                       Nominal Value           Percentage
                                                                                                                           (USD)                   (%)

        Jumlah Laba/(Rugi)                                    19,933,523                               7,346,953             12,586,570                  171.32
        Ko m p r e h e n s i f Ta h u n
        Berjalan
        To t a l C o m p r e h e n s i v e
        Income/(Loss) for the Year

        Laba/(Rugi) Tahun Berjalan
        yang Dapat Diatribusikan
        Kepada
        Profit/(Loss) for the Year
        Attributable to

            Pemilik Entitas Induk                             20,276,463                               3,571,764             16,704,699                 467.69
            Owner of Parent Entity

            Kepentingan                                         (107,774)                                   56,567              -164,341              (290.52)
            Nonpengendali
            Non-Controlling
            interests

        Laba/(Rugi) Tahun Berjalan                            20,168,689                               3,628,331             16,540,358                 455.87
        Profit/(Loss for the Year

        Laba/(Rugi) Komprehensif
        yang Dapat Diatribusikan
        Kepada:
        Comprehensive Income/
        (Loss) Attributable to:

            Pemilik Entitas Induk                             20,041,297                               7,290,386              12,750,911              174.90%
            Owner of Parent Entity

            Kepentingan                                         (107,774)                                   56,567              -164,341              (290.52)
            Nonpengendali
            Non-Controlling
            interests

        Laba/(Rugi) Komprehensif                              19,933,523                               7,346,953             12,586,570                171.32%
        Tahun Berjalan
        Comprehensive Income/
        (Loss) for the Year

        Laba/(Rugi) per Saham                                    0.0007                                     0.0001              0,0006               600.00%
        Dasar/Dilusian
        Basic/Diluted Earnings
        (Loss) per Share


      PENDAPATAN USAHA                                                                 REVENUE
      Pendapatan usaha tahun 2023 tercatat sebesar USD373.21                           Operating revenue in 2023 was recorded at USD373.21 million,
      juta, yang meningkat 56.35% dibandingkan tahun sebelumnya                        reflecting a 56.35% increase compared to the previous year.
      karena aktivitas pekerjaan reaktivasi pesawat Garuda dan Citilink.               This growth was primarily driven by reactivation of Garuda and
                                                                                       Citilink aircrafts.

      BEBAN USAHA                                                                      OPERATING EXPENSES

                                                                                                                             Kenaikan (Penurunan)
                                                                            2023                    2022                      Increase (Decrease)
                                 Uraian
                                                                            (USD)                   (USD)              Nilai Nominal           Persentase
                               Description
                                                                                                                       Nominal Value           Percentage
                                                                                                                           (USD)                   (%)

        Beban Pegawai                                                         101,486,732             95,233,650              6,253,082                   6.57
        Employee Expenses

        Beban Material                                                         97,791,734             58,065,592              39,726,142                 68.42
        Material Expenses



      Laporan Terintegrasi 2023 Integrated Report                                                                   PT Garuda Maintenance Facility Aero Asia Tbk
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                                                                                                         Kenaikan (Penurunan)
                                                         2023                    2022                     Increase (Decrease)
                        Uraian
                                                         (USD)                   (USD)             Nilai Nominal           Persentase
                      Description
                                                                                                   Nominal Value           Percentage
                                                                                                       (USD)                   (%)

 Beban Subkontrak                                            105,611,422             46,579,381          59,032,041                 126.73
 Subcontract Expenses

 Beban Penyusutan                                            20,372,753             23,270,926           (2,898,173 )               (12.45)
 Depreciation Expense

 Beban Operasional Lainnya                                   22,284,253             20,951,343             1,332,910                  6.36
 Other Operating Expenses



BEBAN PEGAWAI                                                         EMPLOYEE EXPENSES
Beban pegawai mencakup biaya gaji dan tunjangan pegawai,              Employee expenses, which covers employee salaries and
insentif, biaya kontribusi dana pensiun, imbalan kerja, dan biaya     benefits, incentives, pension fund contribution costs, employee
pegawai lainnya. Pada tahun 2023, beban pegawai mencapai              benefits, and other related costs, amounted to USD101.49
USD101.49 juta, yang meningkat 6.57% dibandingkan tahun               million in 2023. This reflects a 6.57% increase compared to the
sebelumnya. Peningkatan ini disebabkan oleh kenaikan gaji             previous year. The rise occurred due to increased basic salaries
pokok dan tunjangan pada tahun berjalan serta dampak dari             and allowances in the current year, as well as the impact of
implementasi PMK 66.                                                  implementing PMK 66.

BEBAN MATERIAL                                                        MATERIAL EXPENSES
Beban material mencakup biaya pembelian suku cadang                   Material costs, comprising expenses for purchasing expendable
habis pakai (expendable), suku cadang yang dapat diperbaiki           spare parts, repairable spare parts, courier and shipping services,
(repairable), biaya kurir dan pengiriman, biaya bahan bakar,          fuel, and other related costs, amounted to USD97.79 million in
dan biaya material lainnya. Pada tahun 2023, beban material           2023. This represents a notable increase of 68.42% compared
mencapai USD97.79 juta, yang meningkat 68.42% dibandingkan            to the previous year, primarily driven by the Garuda and Citilink
tahun sebelumnya yang terutama bersumber dari pekerjaan               aircraft reactivation projects.
proyek reaktivasi pesawat Garuda dan Citilink.

BEBAN SUBKONTRAK                                                      SUBCONTRACTING EXPENSES
Beban subkontrak mencakup biaya komponen subkontrak                   Subcontracting expenses, covering costs for subcontracted
dan biaya jasa teknis dan penunjang penerbangan. Jumlah               components and technical aviation support services. The total
beban subkontrak tahun 2023 mencapai USD105.611 juta,                 reached USD105,611 million in 2023, reflecting a significant
yang meningkat 126.73% dibandingkan tahun sebelumnya                  increase of 126.73% compared to the previous year, primarily
sebelumnya yang terutama bersumber dari pekerjaan proyek              driven by the Garuda and Citilink aircraft reactivation projects.
reaktivasi pesawat Garuda dan Citilink.

BEBAN PENYUSUTAN                                                      DEPRECIATION EXPENSES
Beban penyusutan mencakup beban penyusutan aset tetap,                Depreciation expenses, covering fixed asset depreciation,
beban amortisasi dan beban penurunan aset. Jumlah beban               amortization, and asset impairment. The total reached USD20.37
penyusutan tahun 2023 mencapai USD20.37 juta, yang menurun            million in 2023, representing a decrease of 12.45% compared to
12.45% dibandingkan tahun sebelumnya. Penurunan ini sejalan           the previous year. The decline aligns with a significant number
dengan banyaknya aset yang sudah tersusutkan penuh pada               of assets reaching full depreciation in the previous year and
tahun sebelumnya dan rendahnya akuisisi aset pada tahun               fewer asset acquisitions in the current year.
berjalan.

BEBAN KEUANGAN                                                        FINANCE COSTS
Beban keuangan mencakup beban bunga atas fasilitas keuangan,          Financial charges, encompassing interest charges on financial
biaya transaksi, dan biaya lain-lain yang dibebankan atas             facilities, transaction costs, and other fees. They reached a
fasilitas. Pada tahun 2023, beban keuangan mencapai USD23.62          total USD23.62 million in 2023, marking an increase of 6.93%
juta, meningkat 6.93% dibandingkan tahun sebelumnya karena            compared to the previous year due to rising interest expenses
peningkatan beban bunga pinjaman ke bank pada tahun berjalan.         on bank loans in the current year.




PT Garuda Maintenance Facility Aero Asia Tbk                                                     Laporan Terintegrasi 2023 Integrated Report
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134                                                                                                            Analisis dan Pembahasan Manajemen
                                                                                                                 Management Discussion and Analysis




      PENDAPATAN LAIN-LAIN, BERSIH                                            OTHER INCOME, NET
      Pendapatan lain-lain pada tahun 2023 mencapai USD15.41 juta,            Other income in 2023 amounted to USD15.41 million,
      meningkat 496.75% dibandingkan tahun sebelumnya karena                  representing a surge of 496.75% compared to the previous
      adanya restrukturisasi hutang vendor dan restrukturisasi jangka         year due to the restructuring of vendor debt and renegotiation
      waktu pembayaran pinjaman bank.                                         of bank loan repayment terms.

      BEBAN PAJAK PENGHASILAN                                                 INCOME TAX EXPENSE
      Beban pajak penghasilan pada tahun 2023 dari sebelumnya                 Income tax expense in 2023 shifted from an “income tax
      sebagai “beban pajak penghasilan” sebesar USD 1.87 juta                 expense” of USD1.87 million to an “income tax benefit” of
      menjadi “manfaat pajak penghasilan” sebesar USD 0.44 juta.              USD0.44 million. This change reflects the impact of movements
      Hal ini merupakan dampak dari pergerakan pada perhitungan               in the Company’s deferred tax calculations.
      pajak tangguhan Perseroan.

      LABA/(RUGI) TAHUN BERJALAN                                              PROFIT/(LOSS) FOR THE YEAR
      Laba/(rugi) tahun berjalan pada tahun 2023 mencapai                     Profit/(loss) for the current year in 2023 reached USD20.17
      USD20.17 juta, meningkat 455.87% dibandingkan tahun                     million, marking an increase of 455.87% compared to the previous
      sebelumnya karena aktivitas produksi yang utamanya berasal              year primarily came from production activities, particularly the
      dari pekerjaan reaktivasi pesawat Garuda dan Citilink, serta            reactivation work on Garuda and Citilink aircrafts, along with
      usaha restrukturisasi utang kepada vendor dan kepada bank.              debt restructuring with vendors and banks.

      LAPORAN ARUS KAS KONSOLIDASIAN                                          CONSOLIDATED STATEMENTS OF CASH
                                                                              FLOWS

                                                                                                                   Kenaikan (Penurunan)
                                                                                                                    Increase (Decrease)
                               Uraian                           2023                     2022
                             Description                        (USD)                    (USD)               Nilai Nominal           Persentase
                                                                                                             Nominal Value           Percentage
                                                                                                                 (USD)                   (%)

        Arus Kas Bersih yang Diperoleh dari Aktivitas Operasi     30,681,202                 7,603,145             23,078,057                303.53
        Net Cash Flows Generated from Operating Activities

        Arus Kas Bersih yang Digunakan untuk Aktivitas             (639,036)                (3,100,981)              2,461,945               (79.39)
        Investasi
        Net Cash Flows Used in Investing Activities

        Arus Kas Bersih yang Digunakan untuk Aktivitas            (14,218,123)              (12,215,911)            -2,002,212                 16.39
        Pendanaan
        Net Cash Flows Used in Financing Activities

        (Penurunan)/Kenaikan Bersih Kas dan Setara Kas            15,824,043                 (7,713,747)            23,537,790              (305.14)
        (Decrease)/Increase in Cash and Cash Equivalents

        Kas dan Setara Kas Awal Tahun                              5,103,013                 13,767,313            -8,664,300                (62.93)
        Cash and Cash Equivalents at Beginning of Year

        Efek Perubahan Kurs Mata Uang Asing                             123,977              (950,553)               1,074,530               (113.04)
        Effects of Changes in Foreign Exchange Rates

        Kas dan Setara Kas Akhir Tahun                            21,051,033                 5,103,013              15,948,020                312.52
        Cash and Cash Equivalents at End of Year


      ARUS KAS DARI AKTIVITAS OPERASI                                         CASH FLOWS FROM OPERATING ACTIVITIES

                                                                                                                    Kenaikan (Penurunan)
                                                                                                                     Increase (Decrease)
                                Uraian                           2023                     2022
                              Description                        (USD)                    (USD)               Nilai Nominal          Persentase
                                                                                                              Nominal Value          Percentage
                                                                                                                  (USD)                  (%)

        Penerimaan Kas dari Pelanggan                              420,776,424              290,616,012            130,160,412                 44.79
        Cash Receipts from Customers

        Pembayaran Kas kepada Pemasok dan Lainnya                 (284,067,644)            (176,545,316)          -107,522,328                60.90
        Cash Paid to Suppliers and others




      Laporan Terintegrasi 2023 Integrated Report                                                         PT Garuda Maintenance Facility Aero Asia Tbk
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                                                                                                                   Kenaikan (Penurunan)
                                                                                                                    Increase (Decrease)
                         Uraian                                2023                       2022
                       Description                             (USD)                      (USD)              Nilai Nominal           Persentase
                                                                                                             Nominal Value           Percentage
                                                                                                                 (USD)                   (%)

 Pembayaran Kas kepada Karyawan                                     (92,669,186)           (96,020,602)               3,351,416               (3.49)
 Cash Paid to Employees

 Kas Diperoleh dari Operasi                                         44,039,594              18,050,094             25,989,500                 143.99
 Cash Generated from Operations

 Pembayaran Beban Keuangan                                           (15,141,970)           (15,768,110)               626,140                 (3.97)
 Finance Costs Paid

 Pengembalian Pajak                                                    1,977,067                6,366,218            -4,389,151              (68.94)
 Tax Refund

 Pembayaran Pajak Penghasilan                                          (193,489)            (1,045,057)                851,568                (81.49)
 Income Taxes Paid

 Arus Kas Bersih yang Diperoleh Dari Aktivitas Operasi               30,681,202                 7,603,145          23,078,057                303.53
 Net Cash Flows Generated from Operating Activities


Kas bersih dari aktivitas operasi pada tahun 2023 tercatat                    Net cash from operating activities in 2023 was recorded at
sebesar USD30.68 juta, meningkat 303.53% dibandingkan tahun                   USD30.68 million, representing a significant increase of 303.53%
sebelumnya terutama karena pendanaan dimuka untuk aktivitas                   compared to the previous year, which was primarily driven by
reaktivasi pesawat Garuda dan Citilink.                                       advance funding for Garuda and Citilink aircraft reactivation
                                                                              activities.

ARUS KAS DARI AKTIVITAS INVESTASI                                             CASH FLOWS FROM INVESTING ACTIVITIES

                                                                                                                   Kenaikan (Penurunan)
                                                                                                                    Increase (Decrease)
                              Uraian                                   2023                2022
                            Description                                (USD)               (USD)             Nilai Nominal           Persentase
                                                                                                             Nominal Value           Percentage
                                                                                                                 (USD)                   (%)

 (Pembayaran)/Penerimaan Kas dan Setara Kas yang Dibatasi                     (7,191)           (327,267)             320,076                (97.80)
 Penggunaannya
 (Payments)/Proceeds in Restricted Cash and Cash Equivalents

 Penerimaan Pendapatan Keuangan                                              269,641             129,023               140,618               108.99
 Finance Income Received

 Pembayaran Untuk Perolehan Aset Tetap dan Uang Muka                     (901,486)          (2,902,737)              2,001,251               (68.94)
 Payments for Acquisition of Fixed Assets and Advance

 Arus Kas Bersih yang Digunakan untuk Aktivitas Investasi                (639,036)          (3,100,981)              2,461,945               (79.39)
 Net Cash Flows Used in Investing Activities


Kas bersih dari aktivitas investasi pada tahun 2023 tercatat                  Net cash from investing activities in 2023 was recorded at
sebesar negatif USD0.64 juta, menurun 79.39% dibandingkan                     negative USD0.64 million, marking a decrease of 79.39%
tahun sebelumnya terutama karena menurunnya realisasi                         compared to the previous year primarily due to the reduction
investasi pada asset tetap Perseroan.                                         in investment realization in the Company’s fixed assets.

ARUS KAS DARI AKTIVITAS PENDANAAN                                             CASH FLOWS FROM FINANCING ACTIVITIES

                                                                                                                   Kenaikan (Penurunan)
                                                                                                                    Increase (Decrease)
                        Uraian                              2023                        2022
                      Description                           (USD)                       (USD)                Nilai Nominal           Persentase
                                                                                                             Nominal Value           Percentage
                                                                                                                 (USD)                   (%)

 Penerimaan Pinjaman Jangka Pendek                                       0                      190,706               -190,706             (100.00)
 Proceeds from Short-Term Loans




PT Garuda Maintenance Facility Aero Asia Tbk                                                               Laporan Terintegrasi 2023 Integrated Report
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136                                                                                                                         Analisis dan Pembahasan Manajemen
                                                                                                                              Management Discussion and Analysis




                                                                                                                                Kenaikan (Penurunan)
                                                                                                                                 Increase (Decrease)
                                Uraian                                 2023                          2022
                              Description                              (USD)                         (USD)                Nilai Nominal           Persentase
                                                                                                                          Nominal Value           Percentage
                                                                                                                              (USD)                   (%)

        Pembayaran Pinjaman Jangka Pendek                                          0                   (2,400,000)               2,400,000               (100.00)
        Payment of Short-Term Loans

        Penerimaan Pinjaman Jangka Panjang                                         0                               -                      0                     0
        Proceeds from Long-Term Loans

        Pembayaran Pinjaman Jangka Panjang                              (8,332,558)                     (4,399,426)              (3,933,132)                89.40
        Payment of Long-Term Loans

        Pembayaran Liabilitas Sewa                                      (5,885,565)                      (5,607,191)               (278,374)                 4,96
        Payment of Lease Liabilities

        Acceptance of Factoring Liabilities

        Arus Kas Bersih yang Digunakan untuk Aktivitas                   (14,218,123)                    (12,215,911)            -2.002.212                 16.39
        Pendanaan
        Net Cash Flows Used in Financing Activities


      Kas bersih dari aktivitas pendanaan pada tahun 2023 tercatat                      Net cash from financing activities in 2023 was recorded at
      sebesar negatif USD14.22 juta, meningkat 16.39% dibandingkan                      negative USD14.22 million, marking an increase of 16.39%
      tahun sebelumnya terutama karena realisasi komitmen                               compared to the previous year mainly due to the realization of
      pembayaran bunga tahun berjalan.                                                  interest payment commitments for the current year.

      KENAIKAN (PENURUNAN) BERSIH KAS DAN                                               INCREASE (DECREASE) OF CASH AND CASH
      SETARA KAS SERTA KAS DAN SETARA KAS AKHIR                                         EQUIVALENT AND AT END OF YEAR BALANCE
      TAHUN                                                                             The accumulation of cash flow on operating, investment, and
      Dengan akumulasi pada arus kas dari aktivitas operasi, arus kas                   funding activities, along with the effect of foreign exchange
      dari aktivitas investasi, serta arus kas dari aktivitas pendanaan,                rate charges, the cash and cash equivalents throughout
      serta efek perubahan kurs mata uang asing, kas dan setara kas                     2023 decreased/increased by USD15.95 million. Therefore,
      sepanjang tahun 2023 mengalami penurunan/peningkatan                              the Company recorded USD21.05 million in its cash and cash
      sebesar USD15.95 juta. Dengan demikian, kas dan setara kas                        equivalents by the end of 2023.
      pada akhir tahun 2023 tercatat sebesar USD21.05 juta.

      KEMAMPUAN MEMBAYAR UTANG DAN                                                      ABILITY TO PAY DEBT AND RECEIVABLES
      TINGKAT KOLEKTIBILITAS PIUTANG                                                    COLLECTIBILITY

      Kemampuan Perseroan dalam membayar utang diukur                                   The Company’s ability to pay the debt is calculated using the
      menggunakan rasio solvabilitas dan rasio likuiditas. Rasio                        solvability ratio and liquidity ratio. The solvability ratio calculates
      solvabilitas merupakan rasio yang mengukur kemampuan                              the Company’s ability to pay its short and long-term loans.
      Perseroan membayar seluruh utang jangka pendek dan jangka                         Meanwhile, the liquidity ratio is calculated to determine the
      panjang. Sedangkan rasio likuiditas diukur untuk menentukan                       Company’s ability to pay its short-term loan.
      kemampuan Perseroan dalam membayar utang jangka pendek.

      RASIO LIKUIDITAS                                                                  LIQUIDITY RATIO

                                                                                                                        Kenaikan (Penurunan)
                  Uraian                          2023                          2022                                     Increase (Decrease)
                Description                    (kali | times)               (kali | times)                     Nilai Nominal                   Persentase
                                                                                                               Nominal Value                   Percentage

        Cash Ratio                                              0.08                         0.02                                 0.05                     266.97

        Acid Test Ratio                                         0.62                         0.58                                 0.04                       6.29

        Current Ratio                                           0.88                          0.81                                0.07                        9.17




      Laporan Terintegrasi 2023 Integrated Report                                                                      PT Garuda Maintenance Facility Aero Asia Tbk
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Pada tahun 2023, tingkat cash ratio Perseroan tercatat sebesar            In 2023, the Company’s cash ratio was recorded at 0.08 times
0.08 kali dibandingkan tahun 2022 sebesar 0.02 kali. Dengan               compared to 0.02 times in 2022. Thus, there was an increase
demikian terjadi peningkatan 266.97%. Peningkatan ini sejalan             of 266.97%. This increase is in line with the increase in net cash
dengan peningkatan arus kas bersih yang diperoleh dari aktivitas          flow generated from operating activities.
operasi.

Sedangkan acid test ratio dan current ratio menunjukkan                   Meanwhile, the acid test ratio and current ratio show the
kemampuan Perseroan membayar kewajiban jangka pendeknya                   Company’s ability to pay its short-term liabilities using its cash
dengan menggunakan kas dan aset lancar yang dimiliki. Pada                and current assets. In 2023, the acid test ratio performance was
tahun 2023, kinerja acid test ratio tercatat 0.62 kali dan current        recorded at 0.62 times and the Company’s current ratio was
ratio Perseroan rasio tercatat 0.88 kali. Hal ini menunjukkan             recorded at 0.88 times. This shows that the Company was able
bahwa adanya peningkatan kemampuan dalam membayar                         to improve its ability to pay its short-term liabilities.
kewajiban jangka pendek.

RASIO SOLVABILITAS                                                        SOLVENCY RATIO
Rasio solvabilitas digunakan untuk menilai kemampuan                      Solvency is used to assess the Company’s ability to settle all of
Perseroan melunasi seluruh utang yang dimilikinya secara                  its debt in the long term, by using the Company’s entire assets
jangka panjang, dengan menggunakan seluruh aset atau modal                or capital. Solvency is calculated using Debt to Equity Ratio
Perseroan. Pengukuran solvabilitas menggunakan Debt to Equity             (DER) and Debt to Assets Ratio (DAR).
Ratio (DER) dan Debt to Assets Ratio (DAR).

                                                                                                               Kenaikan (Penurunan)
                        Uraian                           2023                        2022                       Increase (Decrease)
                      Description                     (kali | times)             (kali | times)          Nilai Nominal            Persentase
                                                                                                         Nominal Value            Percentage

 Debt to Equity Ratio (DER)                                          (2.45)                   (2.18)                  (0.27)                12.21

 Debt to Assets Ratio (DAR)                                            1.69                       1.85                (0.16)               (8.44)


Pada tahun 2023, nilai DER Perseroan tercatat sebesar (2.45)              In 2023, the Company’s DER value was recorded at (2.45) times,
kali, dibandingkan (2.18) kali pada tahun 2022. Sedangkan nilai           compared to (2.18) times in 2022. Meanwhile, the Company’s
DAR Perseroan di tahun 2023 tercatat 1.69 kali, menurun 8.44%             DAR value in 2023 was recorded at 1.69 times, a decrease of
dibandingkan 1.85 kali pada tahun 2022. Hal ini sejalan dengan            8.44% compared to 1.85 times in 2022. This is in line with the
peningkatan jumlah liabilitas dan jumlah aset.                            increase in total liabilities and total assets.

KOLEKTIBILITAS PIUTANG                                                    COLLECTION RATIO
Penting bagi Perseroan untuk menilai kemampuannya dalam                   It is crucial for the Company to assess its ability to collect
mengumpulkan piutang untuk memastikan agar tidak terjadi                  receivables to prevent bad debts, which could disrupt the flow
piutang macet yang dapat merugikan kelancaran operasional.                of operations. The Company’s capacity to collect receivables can
Kemampuan Perseroan dalam mengumpulkan piutang                            be evaluated through the calculation of the Average Collection
dapat dinilai melalui perhitungan Average Collection Period               Period (ACP). Based on the Company’s receivables and revenue
(ACP). Berdasarkan tingkat piutang dan pendapatan Perseroan di            levels in 2023, the Company’s ACP value has increased to 45 days
tahun 2023, nilai ACP Perseroan mengalami peningkatan menjadi             from 67 days in 2022. This shows that the Company continues
45 hari dari 67 hari pada tahun 2022. Hal ini menunjukkan                 to strengthen its commitment to maintain effectiveness in
bahwa Perseroan senantiasa memperkuat komitmennya                         collecting receivables by using persuasive approach to clients
untuk mempertahankan efektivitas dalam menagih piutang                    and preparing work contracts that can protect the Company.
dengan menggunakan pendekatan persuasif kepada klien dan
mempersiapkan kontrak kerja yang dapat melindungi Perseroan.

STRUKTUR MODAL                                                            CAPITAL STRUCTURE

Perseroan mengelola struktur modal dan hasil pengembalian                 The Company manages its capital structure and returns to
kepada pemegang saham agar dapat memberikan hasil                         shareholders to achieve optimal results. Capital management
yang optimal. Pengelolaan modal dilakukan dengan                          involves careful consideration of future capital requirements
mempertimbangkan kebutuhan modal masa depan dan                           and maintaining a balance in capital acquisition and utilization.
keseimbangan dalam pencapaian dan penggunaan modal.                       Additionally, the Company evaluates current and future




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      Perseroan juga mempertimbangkan profitabilitas saat ini dan           profitability, alongside projections of operating cash flow, capital
      yang akan datang, serta memproyeksikan arus kas operasi,              expenditures, and investment opportunities.
      belanja modal, dan peluang investasi.                                 ‘


                                                                                                                 Kenaikan (Penurunan)
                                                                                                                  Increase (Decrease)
                              Uraian                         2023                     2022
                            Description                      (USD)                    (USD)                Nilai Nominal           Persentase
                                                                                                           Nominal Value           Percentage
                                                                                                               (USD)                   (%)

        Pinjaman                                               400,670,117               415,455,218              (14,785,101)               (3.56)
        Loan

        Kas dan setara kas                                      21,051,033                 5,103,013              15,948,020                312.52
        Cash and cash equivalents

        Pinjaman - bersih                                     379,619,084                410,352,205             (30,733,121)                (7.49)
        Loans - net

        Ekuitas yang dapat diatribusikan kepada pemilik        (311,321,415)            (331,362,712)             20,041,297                  6.05
        induk
        Equity attributable to owners of the parent entity

        Rasio pinjaman bersih terhadap ekuitas                       (121.94)                 (123.84)                   1.90                (1.53)
        Net loan to equity ratio


      KEBIJAKAN MANAJEMEN ATAS STRUKTUR                                     MANAGEMENT POLICY ON CAPITAL STRUCTURE
      MODAL
      Tujuan utama pengelolaan modal Perseroan adalah untuk                 The main purpose fn the Company’s capital management is
      memastikan bahwa Perseroan mempertahankan rasio modal                 to ensure that the Company will always have a strong capital
      yang sehat dalam rangka mendukung bisnis dan memaksimalkan            ratio to support the business and optimize shareholders’ value.
      nilai pemegang saham.

      Perseroan mengelola struktur modal dan membuat                        The Company manages its capital structure, adapting it to
      menyesuaikannya dengan perubahan kondisi ekonomi dan                  changes in economic conditions and ongoing business situations.
      situasi bisnis yang sedang berjalan. Direksi secara berkala           The Board of Directors periodically evaluates the capital structure
      mengevaluasi struktur permodalan dan menetapkan kebijakan             and establishes management policies that consider the cost of
      manajemen yang mempertimbangkan biaya permodalan dan                  capital and related risks.
      risiko yang berhubungan.

      Melihat struktur modal tahun 2023, Direksi beranggapan bahwa          Looking at the capital structure in 2023, the Board of Directors
      struktur modal Perseroan mengalami peningkatan pada ekuitas           considers that the Company’s capital structure is increasing on
      Perseroan sebesar USD20.04 juta dan penurunan pada pinjaman           its equity by USD20.04 million and there was also a decrease in
      bersih sebesar USD30.73 juta bila dibandingkan tahun 2022.            net loan of USD30.73 million when compared to 2022.

      IKATAN MATERIAL UNTUK INVESTASI                                       MATERIAL COMMITMENT FOR CAPITAL
      BARANG MODAL                                                          GOODS INVESTMENT

      Pada tahun 2023, GMF tidak memiliki ikatan material untuk             In 2023, GMF had no material ties for capital investment with
      investasi barang modal dengan pihak manapun. Oleh karena              any party. Therefore, GMF does not have information regarding
      itu, GMF tidak memiliki informasi terkait nama pihak yang             the name of the party to which the bond is bound, the purpose
      melakukan ikatan, tujuan dari ikatan tersebut, sumber dana            of the bond, the source of funds expected to fulfill these bonds,
      yang diharapkan untuk memenuhi ikatan-ikatan tersebut, mata           the denominated currency and the plans to protect against
      uang yang menjadi denominasi dan langkah-langkah yang                 foreign exchange risks.
      direncanakan Perseroan untuk melindungi risiko dari posisi
      mata uang asing yang terkait.




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REALISASI INVESTASI BARANG MODAL                                                 REALIZATION OF CAPITAL GOODS
                                                                                 INVESTMENT

Sepanjang tahun 2023, GMF melakukan investasi barang                             Throughout 2023, GMF invested in earning capital goods
modal sebesar USD2,65 juta dan digunakan untuk berbagai                          amounting to USD2.65 million, which used for various
keperluan seperti pembangunan hanggar 1 door, peremajaan dan                     purposes to support business operations. These investments
penggantian tools, pembuatan craddle B737 dan peningkatan                        are categorized as funding for daily business needs and not
capability LRU Engine B737. Sumber dana yang digunakan untuk                     considered as material for other purposes outside business
merealisasikan investasi tersebut berasal dari dana operasional.                 matters. The source of funds to realize the investment came
                                                                                 from operational fund.


                                                                                                                         Nilai
         Investasi Barang Modal                                       Tujuan
                                                                                                                        Value
           Capital Investment                                        Purpose
                                                                                                                        (USD)

 Pembangunan Hangar 1 door                      Pemenuhan regulasi EASA                                                                  2,586,675
 Construction of Hangar 1 door                  Fulfillment of EASA regulation

 Peningkatan kapabilitas LRU Engine B737        Peningkatan kapabilitas component shop terkait                                                  1,023
 Improvement of LRU Engine B737                 komponen LRU engine B 737 NG
 capabilities                                   Improvement of component shop capabilities
                                                regarding LRU engine B 737 NG component

 Pembuatan craddle B737                         Mendukung operasional Hangar 4                                                              25,445
 Construction of cradle B737                    Support the Hangar 4 operation

 Lainnya                                        Penggantian tools, penggantian/ perbaikan fasilitas,                                            41,151
 Others                                         dan lainnya
                                                Tools replacement, replacement/repair of facilities,
                                                and others

 Jumlah
                                                                                                                                        2,654,294
 Total


Jika dibandingkan dengan investasi 2022, pada tahun 2023                         ompared to 2022 investments, 2023 saw a 95% increase in
terdapat peningkatan realisasi investasi sebesar 95%. Hal ini                    investment realisation. This is mainly due to the Company’s
utamanya dipengaruhi oleh upaya Perseroan untuk memenuhi                         efforts in meeting the requirements of the EASA authority.
persyaratan otoritas EASA.

PENCAPAIAN TARGET DAN KPI TAHUN 2023                                             ACHIEVEMENT OF 2023 TARGET AND KPI
[F.2]                                                                            [F.2]

                                                           Pencapaian Target Tahun 2023
                                                              2023 Target Achievement
                Uraian
      (dalam USD juta, kecuali                                                                                         Realisasi Terhadap
          dinyatakan lain)                        Realisasi 2023                        Target 2023                           Target
             Description                          Realization 2023                      Target 2023                    Realization to Target
  (in USD million, unless otherwise                                                                                             (%)
               stated )

 Operasi dan Bisnis
 Operation and Business

 Revenue                                                             373.21                            377.03                                  98.99

 Net Profit                                                           20.17                             15.03                                  134.20

 Free Cash Flow                                                        110%                             100%                                   110.00

 Customer Satisfaction Index                                           3.97                                4                                   99.25

 Customer SLA Fulfilment                                              100%                             96.05%                                  104.11

 Compliance Index                                                     100%                             96.12%                               104.04

 Human Capital Readiness                                               95%                             96.66%                                  98.28




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                                                                                                                Management Discussion and Analysis




                                                              Pencapaian Target Tahun 2023
                                                                 2023 Target Achievement
                      Uraian
            (dalam USD juta, kecuali                                                                                  Realisasi Terhadap
                dinyatakan lain)                      Realisasi 2023                 Target 2023                             Target
                   Description                        Realization 2023               Target 2023                      Realization to Target
        (in USD million, unless otherwise                                                                                      (%)
                     stated )

        Pemasaran
        Marketing

        Revenue Group Affiliation                                        287.63                    236.42                                     121.66

        Revenue Non-Group Affiliation                                     86.65                     140.61                                     61.62

        Customer Satisfaction Index                                         3.97                         4                                    99.25

        Customer Portfolio Index                                           70%                        80%                                      87.50

        Laba (Rugi) dan Penghasilan Komprehensif Lain
        Profit (Loss) and Other Comprehensive Income

        Pendapatan Usaha                                                 373.21                     377.03                                    98.99
        Revenue

        Beban Usaha                                                      345.51                    340.39                                     101.50
        Operating Expenses

        Laba Usaha                                                        27.70                      36.65                                    75.58
        Operating Profit

        Pendapatan (Beban) Lain-lain                                        1.82                      0.47                                    387.23
        Other Revenue (Expenses)

        Laba/(Rugi) Konsolidasian                                          19.73                     19.26                                    102.44
        Sebelum Pajak Penghasilan
        Consolidated Profit/ (Loss)
        Before Income Tax

        (Beban)/Manfaat Pajak                                              0.44                      (4.24)                                   -10.38
        Tax Expenses

        Laba/(Rugi) Tahun Berjalan                                        20.17                      15.03                                    134.20
        Profit/ (Loss) for the Year

        Posisi Keuangan
        Financial Position

        Aset
        Assets

        Aset Lancar                                                      246.62                     216.52                                    113.90
        Current Assets

        Aset Tidak Lancar                                                203.41                     159.63                                    127.43
        Non Current Assets

        Jumlah Aset                                                      450.02                     376.15                                    119.64
        Total Assets

        Liabilitas dan Ekuitas
        Liability & Equity

        Liabilitas Jangka Pendek                                         279.72                    264.93                                     105.66
        Current Liability

        Liabilitas Jangka Panjang                                        481,47                    426.96                                     112.77
        Non-Current Liability

        Jumlah Liabilitas                                                 761.18                    691.89                                    110.01
        Total Liability

        Jumlah Ekuitas                                                   (311.16)                  (315,75)                                   98.55
        Total Equity

        Jumlah Liabilitas dan Ekuitas                                    450.02                     376.15                                    119.64
        Total Liability & Equity




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                                          Pencapaian Key Performance Indicators (KPI) Tahun 2023
                                              2023 Key Performance Indicators (KPI) Achievement
                    Aspek KPI                                   Target 2023                               Realisasi 2023
                    KPI Aspects                                 2023 Target                               2023 Realization

 Nilai Ekonomi dan Sosial untuk Indonesia
 Economic and Social Values for Indonesia

 Revenue (MUSD)                                                                     377.03                                           373.21

 15.03 15.24 Net Profit (MUSD)                                                       15.03                                            20.17

 Free Cash Flow                                                                      100%                                             110%

 Customer SLA Fulfillment                                                            100%                                           96.05%

 Inovasi Model Bisnis
 Business Model Innovation

 Customer Satisfaction Index                                                            4                                              3.97

 MRO / Strategic Collaboration                                                           1                                                1

 Kepemimpinan Teknologi
 Technological Leadership

 Continuous Improvement                           38                                                                                     38

 Information Capital Readiness                    85%                                                                               96.48%

 Peningkatan Investasi
 Higher Investment

 Asset Management                                 100%                                                                            100.00%

 Governance, Risk and Compliance (GRC)            100%                                                                              96.12%

 Pengembangan Talenta
 Talent Development

 Human Capital Readiness                          95%                                                                               96.66%

 Organization Capital Readiness                   85%                                                                                91.81%



Secara umum, kinerja operasi dan bisnis mayoritas sudah sesuai         In general, the majority of operating and business performance
dengan target. Perseroan membukukan keuntungan bersih                  was in line with the target. The Company recorded a net profit
senilai USD20.17 juta dari target USD15.03 juta. Pencapaian            of USD20.17 million from the targeted USD15.03 million. The
ini terjadi karena adanya restrukturisasi operasional dan upaya        Company is able to achieve these due to the restructuring of
efisiensi sepanjang tahun 2023.                                        its operation efficiency throughout 2023.

Kinerja operasi dan bisnis yang positif mendukung pencapaian           The positive operating and business performance supported
kinerja pemasaran karena secara rata-rata segmen GA dan NGA            the achievement of marketing performance since on average,
mengalami peningkatan kinerja.                                         both GA and NGA performances have improved.

Pada akhirnya, kinerja keuangan yang terdiri dari kinerja laba         Ultimately, financial performance consisting of profit performance
dan free cash flow juga mengalami pertumbuhan yang positif.            and free cash flow also experienced positive growth. In general,
Secara garis besar juga dapat dilihat bahwa kinerja pencapaian         it can also be seen that the achievement performance compared
dibandingkan target mencapai lebih dari 100%.                          to the target reached more than 100%.

Pencapaian KPI juga menunjukkan hasil positif karena hampir            KPI achievement also showed positive results, with almost all
semua target tercapai 100% dengan tingkat pencapaian paling            targets achieved at 100%, and the lowest level of achievement
rendah berada di atas 96%. Pencapaian KPI menjadi bukti                exceeded 96%. The KPI achievement becomes proof of GMF’s
komitmen GMF, sebagai anak usaha BUMN Penerbangan, untuk               commitment, as a subsidiary of SOE Aviation, to contribute to
berkontribusi bagi pembangunan negeri.                                 the country’s development.




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      PROSPEK USAHA DAN TARGET TAHUN 2024                                       BUSINESS PROSPECT AND TARGET FOR 2024

      Asumsi APBN 2024 menargetkan pertumbuhan ekonomi                          In the assumptions of 2024 APBN, the economic growth
      sebesar 5,2%. Pemerintah menjaga stabilitas ekonomi makro                 is targeted to be 5.2%. The government aims to maintain
      dengan memastikan situasi kondusif dan damai pada Pemilu                  macroeconomic stability by ensuring a conducive and peaceful
      dan Pilkada serentak 2024. Indonesia terus melaju menuju                  situation during the 2024 simultaneous regional and local
      negara maju di tengah berbagai gejolak ekonomi dunia dan                  elections. Indonesia continues to progress toward becoming a
      tantangan global. Tantangan global pascapandemi saat ini                  developed country despite facing global economic turmoil and
      terutama bersumber dari tensi geopolitik dan perubahan iklim.             challenges, particularly from geopolitical tensions and climate
      Sementara itu, proyeksi ekonomi global tahun 2024 menurut                 change after the pandemic era. According to the IMF, the global
      IMF akan tetap berada di level yang sama pada tahun 2023                  economic projection for 2023 is expected to remain at the same
      yaitu di level 3,1%.                                                      level as 2022, standing at 3.1%.

      Dalam APBN 2024 juga ditargetkan salah satu pembangunan                   In the 2024 APBN, one of the targets for government
      infrastruktur pemerintah adalah dalam hal konektivitas dan                infrastructure development is connectivity and transportation. It
      transportasi. Diperlukan percepatan peningkatan konektivitas              is necessary to accelerate the increase in connectivity to develop
      dalam rangka pengembangan sistem jaringan konektivitas                    a national network system, covering not only roads but also
      nasional, tidak hanya jalan, tapi juga termasuk pengembangan              the expansion of transportation networks by increasing airport
      jaringan transportasi melalui peningkatan kapasitas bandara,              capacity, among many others. This focus on enhancing airport
      sebagai salah satu fokus utama di antara pengembangan lainnya.            capacity is pivotal, alongside the development of 21 new airport
      Selain target peningkatan kapasitas bandara, pemerintah juga              locations that the government has targeted. The government
      menargetkan pengembangan 21 lokasi bandara baru. Pemerintah               deems these initiatives crucial, especially for achieving the
      memandang penting hal ini terutama untuk merealisasikan                   development targets of the National Capital City (IKN) and
      target pembangunan Ibu Kota Negara (IKN) dan memastikan                   ensuring the continuous development and maintenance of
      konektivitas nasional dapat terus berkembang dan terjaga.                 national connectivity.

      Rencana infrastruktur Pemerintah Indonesia tentu saja                     The Indonesian Government’s infrastructure plans undoubtedly
      membawa kabar baik bagi industri penerbangan dan MRO.                     bring positive news for the aviation and MRO industries.
      Terlebih lagi, prospek industri MRO ke depannya ke depan akan             Moreover, the future prospects for the MRO industry are
      terus berkembang secara positif pascapandemi usai.                        expected to continue developing positively after the pandemic
                                                                                subsides.

      Sebagai upaya untuk memanfaatkan momentum pertumbuhan                     In an effort to capitalise on the momentum of business growth
      usaha pada tahun 2024, Perseroan berfokus pada usaha                      in 2024, the Company focuses on efforts to strengthen and
      untuk memperkuat dan memaksimalkan pengembangan                           maximise the Company’s development that has been carried out
      Perseroan yang telah dilakukan pada tahun 2023 dengan                     in 2023 with the theme Growing Together, Striving for Excellence.
      mengusung tema Growing Together, Striving for Excellence.                 The main strategies will be the Bold Strategy with its three main
      Adapun strategi-strategi utama yang telah dipersiapkan adalah             aspects, namely Profitability Improvement, Restructuring &
      Bold Strategy dengan tiga aspek utama yaitu Profitability                 Cash Flow Optimisation, and Equity Improvement.
      Improvement, Restructuring & Cash Flow Optimization, dan
      Equity Improvement.

      Adapun proyeksi kinerja yang tertuang dalam penetapan RKAP                The performance projections contained in the determination
      pada tahun 2024 pada dasarnya disusun berdasarkan Dokumen                 of the RKAP in 2024 are basically prepared based on the 2024
      RKAP 2024 yang disahkan pada tanggal 18 Januari 2024. Berikut             RKAP Document which was approved on January 18, 2024. The
      merupakan gambaran secara garis besar mengenai proyeksi                   following is an outline of the 2024 projections that have been
      2024 yang telah dipersiapkan oleh Perseroan.                              prepared by the Company.


                                                                      Proyeksi 2024
                                                                    Projection for 2024
                                                        Uraian                                                  Target Nominal (USD)
                                                      Description                                                Nominal Target (USD)

        Pendapatan/Revenues                                                                                                             389,146,240

        Laba Usaha/Operating Income                                                                                                       41,890, 511

        Laba Bersih/Net Profit                                                                                                            17,373,324




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INFORMASI DAN FAKTA MATERIAL SETELAH PELAPORAN
                                       AKUNTAN
                              Information and Material Facts Subsequent to the Accountant’s Report
Tidak terdapat informasi keuangan dan fakta material yang         There was no information on financial and material facts
terjadi setelah tanggal pelaporan akuntan pada tanggal 28         subsequent to the date of the report from the accountant on
Maret 2024 untuk Laporan Keuangan Perseroan Teraudit Tahun        March 28, 2024 for the Audited Financial Statements of the
Buku 2023.                                                        Company for the 2023 Financial Year.




        INFORMASI DAMPAK NILAI TUKAR MATA UANG ASING
                                                Information on the Impact of Foreign Currency Exchange Rate


Perseroan rentan terhadap risiko nilai tukar mata uang yang       The Company is vulnerable to foreign exchange risk from
timbul dari berbagai eksposur mata uang non-fungsional,           various exposures on non-functional currency, especially
terutama terhadap Rupiah. Risiko nilai tukar mata uang non-       against Rupiah. Non-functional exchange risk came from future
fungsional timbul dari transaksi komersial di masa depan serta    commercial transactions and recognized assets and liabilities.
aset dan liabilitas yang diakui. Manajemen telah membuat          The management has made a policy to manage the exchange
kebijakan untuk mengelola risiko nilai tukar mata uang non-       rate risk of non-functional currencies against the functional
fungsional terhadap mata uang fungsional dalam Perseroan.         currency at the Company.

Perseroan melakukan transaksi lindung nilai berupa option,        The Company’s hedging transaction was through options, at
sebesar minimum 25% dari selisih antara kewajiban dan harta       least 25% of the difference between liabilities and assets in
dalam valuta asing.                                               foreign currencies.




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      KEBIJAKAN DIVIDEN DAN PEMBAGIANNYA
      Dividend Policy and Disbursement


      KEBIJAKAN DIVIDEN                                                          DIVIDEND POLICY

      Perseroan menentukan rasio pembayaran maksimum sebesar                     The Company determines the payment ratio to be at the maximum
      30% dari laba tahun berjalan dengan memperhitungkan laba                   of 30% from the profit of the year with consideration on net profit,
      bersih, ketersediaan dana cadangan, persyaratan belanja modal,             general reserves, capital expenditure requirements, operating
      hasil usaha, dan kas. Tentunya besaran dividen yang ditentukan             results, and cash. The amount of distributed dividend should
      harus tetap memperhatikan tingkat kesehatan Perseroan dan                  consider the Company’s soundness level and does not diminish
      tidak mengurangi hak dari Rapat Umum Pemegang Saham                        the authorities of the General Meeting of Shareholders (GMS)
      (RUPS) untuk menentukan lain sesuai dengan Anggaran Dasar.                 to determine otherwise according to the Articles of Association.

      PEMBAGIAN DIVIDEN                                                          DIVIDEND DISBURSEMENT

      Berdasarkan RUPS Tahunan yang diselenggarakan pada 28                      Based on the Annual GMS organized on June 28, 2023, the
      Juni 2023, RUPS menyetujui untuk menetapkan Laba Bersih                    GMS has agreed to use the Company’s Net Profit based on the
      Perseroan yang diperoleh berdasarkan Laporan Keuangan                      Financial Statements for 2022 Financial Year as Retained Earning
      Tahunan Tahun Buku 2022 sebagai Laba Ditahan atau Retained                 to reduce the acculumated loss of the Company.
      Earning untuk mengurangi akumulasi kerugian Perseroan.

      Kronologis pembagian dan pembayaran dividen tahun dari tahun               The chronology of dividend payment and distribution from 2021
      2021 ke 2023 adalah sebagai berikut:                                       until 2023 is as follows:


                                                                                                                                          Rasio
                                                                                              Dividen Kas         Dividen              Pembagian
                                                         Tanggal
              Tahun            Tahun Dividen                               Tanggal          yang Dibagikan     (USD/lembar              Dividen
                                                      Pengumuman
          Pembagian             Dividend Year                            Pembayaran          Cash Dividend        saham)                Dividend
                                                      Announcement
        Distribution Year                                                Payment Date         Distributed         Dividend             Distribution
                                                           Date
                                                                                                 (USD)          (USD/share)               Ratio
                                                                                                                                           (%)

        2023*                                  -                     -                  -                -                      -                     -

        2022*                                  -                     -                  -                -                      -                     -

        2021*                                  -                     -                  -                -                      -                     -

        Keterangan | Notes:
        *Berdasarkan RUPS Tahunan yang diselenggarakan, tidak terdapat keputusan mengenai pembagian dividen untuk tahun buku terkait. | Based on
        the Annual GMS organized, there was no decision concerning dividend distribution for the fiscal year.




      KONTRIBUSI KEPADA NEGARA
      Contribution to the State

      Perseroan memberikan kontribusi terhadap Negara melalui                    The Company contributed to the State through tax payment and
      pembayaran pajak dan bea cukai. Pembayaran pajak antara lain               customs. Tax payment among others are income tax (Corporate
      berupa pajak penghasilan (baik PPh Badan maupun withholding                Income Tax and withholding tax), VAT, and other taxes related
      tax), PPN, serta pajak lainnya yang berkaitan dengan operasional           to the Company’s operation. The values of the Company’s tax
      Perseroan. Adapun nilai kontribusi pajak dan bea cukai Perseroan           contribution in 2023 reached Rp 157.455.007.908.
      yang tercatat pada tahun 2023 mencapai Rp157.455.007.908.

      Sebagai bagian dari BUMN Garuda Indonesia, GMF senantiasa                  As a part of SOE Garuda Indonesia, GMF always fulfills its
      memenuhi kewajibannya dalam membayar pajak sesuai aktivitas                obligations in paying taxes according to operational activities
      operasional yang dijalankan dengan berpedoman pada peraturan               guided by applicable laws and regulations.
      perundang-undangan yang berlaku.


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            REALISASI PENGGUNAAN DANA HASIL PENAWARAN
                                                UMUM
                                                                    Realization of Proceeds from Public Offering
Pada tanggal 10 Oktober 2017, Perseroan melakukan Penawaran          On October 10, 2017, the Company made an Initial Public Offering
Umum Saham Perdana di Bursa Efek Indonesia dan menjadi               on the Indonesia Stock Exchange and became a public company.
perusahaan terbuka. Pada penawaran umum tersebut Perseroan           In the public offering, the Company offered 2,823,351,100
melakukan penawaran saham sebanyak 2.823.351.100 lembar              shares at a price of Rp400 to the public.
pada harga Rp400,- kepada publik.


                                                                                                                 Jumlah
                                                Perihal
                                                                                                                 Amount
                                                Subject
                                                                                                                  (Rp)

 Realisasi Nilai Hasil Penawaran Umum Saham Perdana
 Realization of the Value of Initial Public Offering

 Hasil Penawaran Umum Saham Perdana                                                                                  1.129.340.440.000
 Results of Initial Public Offering

 Biaya Penawaran Umum                                                                                                   23.089.093.675
 Public Offering Fee

 Hasil Bersih                                                                                                         1.106.251.346.325
 Net Results

 Rencana Penggunaan Dana Menurut Prospektus
 Planned Use of Funds According to Prospectus

 Modal Kerja                                                                                                            276.562.836.581
 Work Capital

 Refinancing                                                                                                            165.937.701.949
 Refinancing

 Investasi                                                                                                             663.750.807.795
 Investment

 Jumlah                                                                                                               1.106.251.346.325
 Total

 Realisasi Penggunaan Dana per 31 Desember 2020
 Actual Use of Funds as of December 31, 2020

 Modal Kerja                                                                                                            276.562.836.581
 Work Capital

 Refinancing                                                                                                            165.937.701.949
 Refinancing

 Investasi                                                                                                             663.750.807.795
 Investment

 Jumlah
                                                                                                                     1.106.251.346.325
 Total

 Sisa Dana Hasil Penawaran Umum per 31 Desember 2023
                                                                                                                                       0
 Remaining Funds from Public Offering as of December 31, 2023



Dana hasil penawaran umum dikurangi dengan biaya-biaya yang          The funding from public offering minus the cost incurred in the
dikeluarkan dalam rangka IPO sekitar 1,871% dari nilai emisi atau    context of an IPO of approximately 1.871% of the value of the
sekitar Rp23.089.093.675 sehingga hasil bersih dari IPO adalah       issuance or around Rp23,089,093,675 so that the net result of the
sebesar Rp1.106.251.346.325. Dari hasil bersih penawaran             general bidder is Rp1,106,251,346,325. From the net proceeds
umum sebesar Rp1.106.251.346.325 tersebut, pada tanggal              of the public offering amounting to Rp1,106,251,346,325, on
11 Oktober 2017, Perseroan melakukan konversi dana dari              October 11, 2017 the Company converted funds from Rupiah to
Rupiah menjadi USD pada kurs Rp13.510 sehingga dana hasil            USD at an exchange rate of Rp13,510 so that the net proceeds
bersih penawaran umum tersebut menjadi USD81.883.889.                from the public offering became USD81,883,889.




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                                                                                                         Management Discussion and Analysis




      Seluruh dana yang diperoleh dari hasil Penawaran Umum            All funds obtained from the Initial Public Offering, after deducting
      Perdana Saham, setelah dikurangi dengan biaya-biaya emisi,       the issuance costs will be used by the Company with the
      digunakan oleh Perseroan dengan rincian sebagai berikut:         following details:
      1. Porsi 60% akan digunakan untuk mendanai investasi             1. The 60% portion will be used to fund the Company’s
         Perseroan dalam rangka meningkatkan kapasitas dan                  investment in order to increase capacity and capability in Line
         kapabilitas di Line Maintenance dan Repair & Overhaul,             Maintenance and Repair & Overhaul, in the form of purchases
         berupa pembelian aset tetap, antara lain tools, equipment,         of fixed assets, including tools, equipment, components,
         component, machineries dan sarana prasarana lainnya.               machineries and other infrastructure.
      2. Porsi 15% digunakan untuk pembayaran fasilitas pinjaman       2. The 15% portion will be used for repayment of bank
         bank atau lembaga keuangan, dengan penjelasan sebagai              or financial institution loan facilities, with the following
         berikut: Pinjaman Kredit Modal Kerja yang diatur dalam Akta        explanation: Loan for Working Capital Loan as stipulated in
         Perjanjian Kredit No. 108 pada tanggal 28 April 2016. Saldo        Deed of Credit Agreement No. 108 on April 28, 2016. The
         pinjaman atas fasilitas per 31 Maret 2017 adalah sebesar           loan balance of the facility as of March 31, 2017 amounted
         USD31,236,141 yang akan dilunasi sebagian.                         to USD31,236,141 which will be paid in part.
         a. Tingkat suku bunga: LIBOR 3 bulan + 2,75%                       a. Interest rates: 3-month LIBOR + 2.75%
         b. Jatuh tempo tanggal: 27 Oktober 2017                            b. Due date: October 27, 2017
          c. Penggunaan pinjaman: Pembayaran overdue utang                   c. Loan use: Overdue payment of trade debts
              dagang
         d. Riwayat utang: Utang KMK BNI bertenor 1 tahun dan             d. Debt history: BNI’s KMK debt has a tenor of 1 year and
              saat ini telah diperpanjang selama 6 bulan terhitung             has now been extended for 6 months starting April
              sejak tanggal 28 April 2017                                      28, 2017
      3. Porsi 25% digunakan untuk kebutuhan modal kerja Perseroan     3. The 25% portion will be used for the Company’s working
         yang bertujuan untuk mendukung kegiatan operasional              capital needs which aim to support operational activities in
         berupa pembayaran utang vendor, pembayaran pajak, dan            the form of vendor debt payments, tax payments and other
         pembayaran utang jangka pendek lainnya.                          short-term debt payments.



      Tidak ada perubahan penggunaan dana sampai tanggal               There was no change in the use of funds until the reporting date
      pelaporan 31 Desember 2023.                                      on December 31, 2023.




      REALISASI PENGGUNAAN DANA HASIL PENAWARAN
      UMUM OBLIGASI
      Realization of Proceeds from Bond Offering
      Hingga tanggal 31 Desember 2023, Perseroan tidak menerbitkan     As of December 31, 2023, the Company has never issued bonds/
      obligasi/sukuk/obligasi konversi di bursa efek mana pun.         sharia bonds/convertible bonds on any stock exchange.




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INFORMASI MATERIAL MENGENAI INVESTASI, EKSPANSI,
   DIVESTASI, PENGGABUNGAN USAHA, AKUISISI, DAN/
               ATAU RESTRUKTURISASI UTANG/MODAL
 Material Information Regarding Investment, Expansion, Divestment, Business Combina-
                                    tion, Acquisition, and/or Debt/Capital Restructuring

Pada tahun 2023, Perseroan telah melakukan beberapa                 In 2023, the Company has conducted several debt restructurings
restrukturisasi utang dengan kreditur perbankan dan kreditur        with bank creditors and other creditors. This has been disclosed
lainnya. Hal tersebut telah diungkapkan dalam Laporan Keuangan      in the Consolidated Financial Statements for the 2023 Financial
Konsolidasian Tahun Buku 2023 Perseroan pada Catatan Atas           Year of the Company in Notes to Financial Statements (“CALK”)
Laporan Keuangan (“CALK”) No. 10 terkait dengan Utang Usaha         No. 10 related to Accounts Payable and CALK No. 13 regarding
dan CALK No. 13 mengenai Pinjaman Bank Jangka Panjang.              Long-Term Bank Loans.




INFORMASI TRANSAKSI MATERIAL YANG MENGANDUNG
     BENTURAN KEPENTINGAN DAN/ATAU TRANSAKSI
            DENGAN PIHAK AFILIASI/PIHAK BERELASI
     Information on Material Transactions Containing Conflicts of Interest and/or Transac-
                                                      tions with Affiliated/Related Parties

Perseroan memiliki transaksi dengan pihak-pihak berelasi yang       The Company is transacting with related parties of individuals
merupakan individu atau entitas berelasi dengan GMF. Transaksi      or entities related to GMF. This transaction made the Company
ini membuat Perseroan mengaplikasikan pernyataan standar            applied PSAK No. 7 regarding “Disclosure of Related Parties”
Akuntansi Keuangan (PSAK) 7 “Pengungkapan Pihak-Pihak               within the Financial Statements in 2023 which has been audited
Berelasi” dalam Laporan Keuangan tahun 2023 yang telah diaudit      by the Public Accounting Firm Tanudiredja, Wibisana, Rintis &
oleh Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis & Rekan.   Partners. All transactions with related parties were performed
Semua transaksi dengan pihak yang berelasi, dilakukan dengan        based on the requirements, price level, and normal condition
persyaratan, tingkat harga, dan kondisi normal sebagaimana          the same with third parties and have been disclosed in the
yang dilakukan dengan pihak ketiga dan telah diungkapkan            financial statements. There were no differences of price policy
dalam laporan keuangan. Tidak ada perbedaan kebijakan harga         or transaction terms between related and third parties. The
dan syarat transaksi antara pihak-pihak berelasi dan pihak          review and compliance with rules and provision were based on
ketiga. Mekanisme review dan juga pemenuhan peraturan dan           the Financial Accounting Standard (SAK) in Indonesia on PSAK
ketentuan terkait semuanya dilakukan berdasarkan Standar            7 concerning “Disclosure of Related Parties”.
Akuntansi Keuangan (SAK) di Indonesia pada PSAK 7 tentang
“Pengungkapan Pihak-Pihak Berelasi”.

Pihak-pihak berelasi di lingkup Perseroan adalah sebagai berikut:   Related parties within the Company’s coverage are as follows:
1. Garuda adalah entitas induk Perseroan.                           1. Garuda is the Company’s parent entity.
2. Seluruh entitas yang dikendalikan oleh Garuda serta entitas      2. All entities controlled by Garuda or where Garuda has
   dimana Garuda memiliki pengaruh signifikan.                         significant influence are presented as related parties.
3. Pemerintah Republik Indonesia melalui Kementerian                3. The Government of the Republic of Indonesia represented by
   Keuangan adalah pemegang saham utama Perseroan.                     the Ministry of Finance is the majority stockholder of Garuda.
4. Seluruh entitas yang dimiliki dan dikendalikan oleh              4. All entities that are owned and controlled by the Government
   Kementerian Keuangan Pemerintah Republik Indonesia                  of the Republic of Indonesia including entities where the
   serta entitas dimana Kementerian Keuangan Pemerintah                Government of the Republic of Indonesia have significant
   Republik Indonesia memiliki pengaruh signifikan.                    influence are presented as government - related entities.
5. Dewan Komisaris dan Direksi merupakan manajemen kunci.           5. Commissioners and Directors are considered key
                                                                       management personnel.




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                                                                                                                        Management Discussion and Analysis




      Transaksi yang dilakukan oleh Perseroan dengan pihak berelasi                   Transactions conducted by the Company with related parties
      merupakan transaksi yang umum dilakukan oleh Perseroan                          are typically conducted for daily business operational purposes.
      untuk keperluan operasional bisnis sehari-hari. Transaksi-                      These transactions are not considered as Transactions Containing
      transaksi tersebut tidak termasuk dalam Transaksi yang                          Conflicts of Interest as referred to in Chapter III POJK No. 42/
      Mengandung Benturan kepentingan sebagaimana dimaksud                            POJK.04/2020 concerning Affiliate Transactions and Conflict of
      dalam Bab III POJK No. 42/POJK.04/2020 Tentang Transaksi                        Interest Transactions.
      Afiliasi dan Transaksi Benturan Kepentingan.


             Pihak yang Berelasi                               Sifat Hubungan                                       Sifat Transaksi
                Related Parties                              Nature of Relationship                               Nature of Transaction

        Garuda Indonesia                     Entitas induk                                      Piutang usaha, aset kontrak, utang usaha, akrual, liabilitas
                                             Parent entity                                      kontrak, beban usaha
                                                                                                Accounts receivable, contract assets, accounts payable,
                                                                                                accrual, contract liabilities, operating expenses

        Citilink                             Entitas yang dikendalikan oleh Garuda Indonesia    Piutang usaha, aset kontrak, utang usaha, liabilitas kontrak
                                             Entity under common control of Garuda Indonesia    Accounts receivable, contract assets, accounts payable,
                                                                                                contract liabilities

        PT Aero Systems Indonesia            Entitas yang dikendalikan oleh Garuda Indonesia    Utang usaha, akrual, beban usaha
                                             Entity under common control of Garuda Indonesia    Accounts receivable, accrual, operating expenses

        PT Aerotrans Services Indonesia      Entitas yang dikendalikan oleh Garuda Indonesia    Utang usaha, akrual, beban usaha
                                             Entity under common control of Garuda Indonesia    Accounts payable, accrual, operating expenses

        PT Gapura Angkasa                    Entitas dimana Garuda Indonesia memiliki           Aset kontrak, utang usaha, beban usaha
                                             pengaruh yang signifikan                           Contract assets, accounts payable, operating expenses
                                             Entity under significant influence of Garuda
                                             Indonesia

        PT Angkasa Pura II (Persero)         Entitas yang dimiliki dan dikendalikan oleh        Beban usaha, utang usaha, akrual, liabilitas sewa
                                             Pemerintah Republik Indonesia                      Operating expenses, accounts payable, accrual, lease
                                             Entity owned and controlled by the Indonesian      liabilities
                                             Government

        PT Angkasa Pura I (Persero)          Entitas yang dimiliki dan dikendalikan oleh        Beban usaha, liabilitas sewa
                                             Pemerintah Republik Indonesia                      Operating expenses, lease liabilities
                                             Entity owned and controlled by the Indonesian
                                             Government

        PT Asuransi Jiwa Inhealth            Entitas yang dimiliki dan dikendalikan oleh        Beban usaha
        Indonesia                            Pemerintah Republik Indonesia                      Operating expenses
                                             Entity owned and controlled by the Indonesian
                                             Government

        BPJS Kesehatan                       Entitas yang dimiliki dan dikendalikan oleh        Beban usaha
                                             Pemerintah Republik Indonesia                      Operating expenses
                                             Entity owned and controlled by the Indonesian
                                             Government

        PT PLN (Persero)                     Entitas yang dimiliki dan dikendalikan oleh        Beban usaha
                                             Pemerintah Republik Indonesia                      Operating expenses
                                             Entity owned and controlled by the Indonesian
                                             Government

        PT Telekomunikasi Indonesia          Entitas yang dimiliki dan dikendalikan oleh        Beban usaha
        (Persero) Tbk                        Pemerintah Republik Indonesia                      Operating expenses
                                             Entity owned and controlled by the Indonesian
                                             Government

        Bank Negara Indonesia                Entitas yang dimiliki dan dikendalikan oleh        Penempatan kas dan setara kas serta pinjaman
                                             Pemerintah Republik Indonesia                      Placement of cash and cash equivalents and loans
                                             Entity owned and controlled by the Indonesian
                                             Government

        Bank Rakyat Indonesia                Entitas yang dimiliki dan dikendalikan oleh        Penempatan kas dan setara kas serta pinjaman
                                             Pemerintah Republik Indonesia                      Placement of cash and cash equivalents and loans
                                             Entity owned and controlled by the Indonesian
                                             Government




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       Pihak yang Berelasi                          Sifat Hubungan                                           Sifat Transaksi
          Related Parties                         Nature of Relationship                                   Nature of Transaction

 PT Bank Mandiri (Persero) Tbk        Entitas yang dimiliki dan dikendalikan oleh         Penempatan kas dan setara kas
 (“Mandiri”)                          Pemerintah Republik Indonesia                       Placement of cash and cash equivalents
                                      Entity owned and controlled by the Indonesian
                                      Government

 PT Bank Syariah Mandiri              Entitas yang dimiliki dan dikendalikan oleh         Penempatan kas dan setara kas
                                      Pemerintah Republik Indonesia                       Placement of cash and cash equivalents
                                      Entity owned and controlled by the Indonesian
                                      Government

 PT Bank BNI Syariah                  Entitas yang dimiliki dan dikendalikan oleh         Penempatan kas dan setara kas
                                      Pemerintah Republik Indonesia                       Placement of cash and cash equivalents
                                      Entity owned and controlled by the Indonesian
                                      Government

 PT Bank Tabungan Negara              Entitas yang dimiliki dan dikendalikan oleh         Penempatan kas dan setara kas
 (Persero) Tbk                        Pemerintah Republik Indonesia                       Placement of cash and cash equivalents
                                      Entity owned and controlled by the Indonesian
                                      Government

 PT Bank Pembangunan Daerah           Entitas yang dimiliki dan dikendalikan oleh         Penempatan kas dan setara kas Placement of cash and
 Jawa Barat dan Banten Tbk            Pemerintah Republik Indonesia Entity owned and      cash equivalents
                                      controlled by the Indonesian Government


REALISASI SALDO DAN TRANSAKSI PIHAK-                                          REALIZATION OF BALANCES AND
PIHAK BERELASI                                                                TRANSACTIONS OF RELATED PARTIES

                                                                                                 Persentase dari jumlah aset (liabilitas)
                   Uraian                           2023                   2022                    Percentage of total assets (liabilities)
                 Description                        (USD)                  (USD)                    2023                           2022
                                                                                                     (%)                            (%)

 Saldo Pihak Berelasi Dalam Aset
 Related Party Balances in Assets

 Kas dan Setara Kas                                    17,551,419            4,254,935                         3.90                            1.09
 Cash and Cash Equivalents

 Kas Dibatasi Pengunaannya                              358,975                351,784                         0.08                           0.09
 Restricted Cash

 Piutang Usaha                                        61,352,101            26,866,840                         13.63                           6.88
 Accounts Receivable

 Aset Kontrak                                        39,738,525             49,252,149                          8.83                           12.61
 Contract Assets

 Saldo Pihak Berelasi Dalam Liabilitas
 Related Party Balances in Liabilities

 Utang Usaha                                          10.391,617            10,349,689                          1.37                           1.43
 Operating Debt

 Akrual                                                3,412,094             4,071,053                         0.45                            0.56
 Accruals

 Liabilitas Sewa                                     50,210,105              49,612,912                        6.60                            6.87
 Lease Liabilities

 Pinjaman Jangka Panjang                            330,918,257            337,520,513                        43.47                           46.77
 Long-Term Loans

 Liabilitas Kontrak                                  89,556,217             30,912,936                          11.77                          4.28
 Contract Liabilities

 Saldo Pihak Berelasi dalam Beban Usaha
 Related Party Balances in Operating Expenses

 Beban Usaha                                         21,459,594              17,011,559                         6.21                           7.96
 Operating Expenses




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                                                                                                           Management Discussion and Analysis




                                                                                            Persentase dari jumlah aset (liabilitas)
                         Uraian                        2023           2022                    Percentage of total assets (liabilities)
                       Description                     (USD)          (USD)                   2023                           2022
                                                                                               (%)                            (%)

        Saldo Pihak Berelasi Dalam Beban Keuangan
        Related Party Balances in Financial Expenses

        Beban Keuangan                                  12,515,242      11,936,447                       52.99                           54.04
        Operating Expenses


      PERNYATAAN DIREKSI DAN DEWAN                                       STATEMENT FROM THE BOARD OF
      KOMISARIS                                                          DIRECTORS AND THE BOARD OF
                                                                         COMMISSIONERS

      Direksi Perusahaan, baik secara sendiri-sendiri maupun             The Board of Directors, either unilaterally or collectively, is fully
      bersama-sama bertanggung jawab sepenuhnya atas kebenaran           responsible for the authenticity of the information regarding
      dan informasi mengenai serangkaian transaksi afiliasi yang         the affiliated transactions throughout 2023. The Board of
      dilakukan Perseroan pada tahun 2023. Dewan Komisaris,              Commissioners, together with the Audit Committee, had
      bersama-sama dengan Komite Audit, juga telah melakukan             overseen all of the affiliated transactions throughout 2023.
      pengawasan yang memadai terhadap setiap transaksi afiliasi
      yang dilakukan di sepanjang tahun 2023.

      Direksi dan Dewan Komisaris telah melakukan analisa secara         The Board of Directors and the Board of Commissioners have
      seksama dan menegaskan bahwa transaksi afiliasi telah melalui      made a thorough analysis and therefore declare that all affiliated
      prosedur yang memadai dan dilaksanakan sesuai dengan praktik       transactions had gone through the proper process and were
      bisnis yang berlaku umum.                                          conducted according to the general practices of business conduct.




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INFORMASI KEUANGAN YANG MENGANDUNG KEJADIAN
    YANG BERSIFAT LUAR BIASA DAN JARANG TERJADI
                                      Financial Information that Contains Extraordinary and Rare Events
Pada tahun 2023, tidak terdapat informasi ataupun transaksi                     During 2023, there is no financial information or transaction
keuangan yang mengandung kejadian yang bersifat luar biasa                      which can be considered as something that is extraordinary
dan jarang terjadi selain dari keseluruhan informasi yang telah                 or rare other than what has been disclosed in the Financial
disampaikan pada Laporan Keuangan.                                              Statement.




             PERUBAHAN PERATURAN PERUNDANG-UNDANGAN
                 YANG BERPENGARUH SIGNIFIKAN TERHADAP
                                           PERSEROAN
                    Changes in Law and Regulations that Had Significant Affect to the Company

                   Nama Peraturan                         Isi Peraturan                          Dampak                         Penyesuaian
  No.
                     Regulation                              Content                              Impact                         Adjustment

    1.     Peraturan Menteri Badan Usaha        Peraturan ini diterbitkan untuk         Peraturan ini berdampak        Perseroan telah meratifikasi
           Milik Negara Nomor PER-1/            mewujudkan Peraturan Menteri            signifikan pada Perseroan      Permen BUMN 1/2023 dalam
           MBU/03/2023 Tahun 2023               Badan Usaha Milik Negara yang           sebagai anak usaha BUMN        Rapat Umum Pemegang Saham
           tentang Penugasan Khusus dan         sinkron dan harmonis guna               dalam rangka melaksanakan      Tahunan Tahun Buku 2022
           Program Tanggung Jawab Sosial        mendukung pengelolaan Badan             penugasan khusus dan           yang dilaksanakan pada tanggal
           dan Lingkungan Badan Usaha Milik     Usaha Milik Negara (“BUMN”)             program tanggung jawab         28 Juni 2023. Menerapkan
           Negara (“Permen BUMN 1/2023”)        yang terencana, terpadu, dan            sosial dan lingkungan.         ketentuan sebagaimana diatur
           Minister of State-Owned              berkelanjutan khususnya yang            This regulation has a          oleh peraturan tersebut dalam
           Enterprise Regulation Number         berkaitan dengan mekanisme              significant impact on the      kegiatan usahanya, khususnya
           PER-1/MBU/03/2023 of 2023            mengenai pelaksanaan penugasan          Company as a subsidiary        yang berkaitan dengan
           concerning Special Assignments       khusus dan program tanggung             of SOE, enabling it to carry   pemrosesan data pribadi
           and Social and Environmental         jawab sosial dan lingkungan             out special assignments and    penumpang dan melakukan
           Responsibility Programs for          BUMN.                                   social and environmental       sosialisasi di internal Perseroan
           State-Owned Enterprises ("SOE        This regulation was issued to realize   responsibility programs.       terkait dengan regulasi terbaru.
           Ministerial Regulation 1/2023")      a synchronous and harmonious                                           The Company ratified the
                                                Regulation of the Minister of                                          SOE Ministerial Regulation
                                                State-Owned Enterprise to support                                      1/2023 at the Annual General
                                                planned, integrated, and continous                                     Meeting of Shareholders for
                                                management of State-Owned                                              the 2022 Financial Year, which
                                                Enterprises ("SOE"), especially                                        was held on June 28, 2023.
                                                those relating to mechanisms                                           Implemented the provisions
                                                regarding the implementation of                                        regulated by this regulation in
                                                special assignments and social                                         its business activities, especially
                                                and environmental responsibility                                       those related to processing
                                                programs for SOE.                                                      passenger personal data and
                                                                                                                       conducting socialization within
                                                                                                                       the Company related to the
                                                                                                                       latest regulations.




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                          Nama Peraturan                           Isi Peraturan                             Dampak                         Penyesuaian
        No.
                            Regulation                                Content                                 Impact                         Adjustment

         2.      Peraturan Menteri Badan Usaha         Peraturan ini diterbitkan untuk              Peraturan ini berdampak         Perseroan telah meratifikasi
                 Milik Negara Nomor PER-2/             mewujudkan Peraturan Menteri                 signifikan pada Perseroan       Permen BUMN 2/2023 dalam
                 MBU/03/2023 Tahun 2023                BUMN yang selaras dan harmonis               sebagai anak usaha BUMN         Rapat Umum Pemegang Saham
                 tentang Pedoman Tata Kelola           guna mendukung pengelolaan                   dalam rangka pelaksanaan        Tahunan Tahun Buku 2022
                 dan Kegiatan Korporasi Signifikan     BUMN yang terencana, terpadu,                Tata Kelola Perusahaan yang     yang dilaksanakan pada tanggal
                 Badan Usaha Milik Negara              dan berkelanjutan khususnya                  Baik serta kegiatan korporasi   28 Juni 2023.
                 Minister of State-Owned Enterprise    yang berkaitan dengan mekanisme              signifikan Perseroan.           The Company ratified the SOE
                 Regulation Number PER-2/              mengenai pelaksanaan Tata Kelola             This regulation has a           Ministerial Regulation 2/2023
                 MBU/03/2023 of 2023 concerning        dan Kegiatan Korporasi Signifikan            significant impact on the       at the Annual General Meeting
                 Guidelines for Governance and         BUMN.                                        Company as a subsidiary of      of Shareholders for the 2022
                 Significant Corporate Activities of   This regulation was issued                   SOE in implementing Good        Financial Year, which was held
                 State-Owned Enterprise                to realize a harmonious and                  Corporate Governance,           on June 28, 2023.
                                                       synchronized SOE Ministerial                 the Company's significant
                                                       Regulation to support planned,               corporate activities.
                                                       i n te g r ate d , a n d c o n t i n o u s
                                                       management of SOE, especially
                                                       those related to mechanisms
                                                       regarding the implementation
                                                       of Governance and Significant
                                                       Corporate Activities of SOE.

         3.      Peraturan Menteri Badan Usaha         Peraturan ini diterbitkan untuk              Peraturan ini berdampak         Perseroan telah meratifikasi
                 Milik Negara Nomor Per-3/             mewujudkan Peraturan Menteri                 signifikan pada Perseroan       Permen BUMN 3/2023 dalam
                 MBU/03/2023 Tahun 2023                BUMN yang selaras dan harmonis               sebagai anak usaha BUMN         Rapat Umum Pemegang Saham
                 Tentang Organ dan Sumber Daya         guna mendukung pengelolaan                   dalam rangka melaksanakan       Tahunan Tahun Buku 2022
                 Manusia Badan Usaha Milik Negara      BUMN yang terencana, terpadu,                pengelolaan Organ dan           yang dilaksanakan pada tanggal
                 Minister of State-Owned Enterprise    dan berkelanjutan khususnya yang             Sumber Daya Manusia dalam       28 Juni 2023.
                 Regulation Number PER-3/              berkaitan dengan pengangkatan,               Perseroan.                      The Company ratified the SOE
                 MBU/03/2023 of 2023 concerning        pemberhentian, dan penghasilan               This regulation has a           Ministerial Regulation 3/2023
                 Organs and Human Resources of         Direksi dan Dewan Komisaris                  significant impact on the       at the Annual General Meeting
                 State-Owned Enterprise                BUMN, Manajemen Talenta,                     Company as a subsidiary         of Shareholders for the 2022
                                                       dan Organ Pendukung Dewan                    of SOE to carry out the         Financial Year, which was held
                                                       Komisaris BUMN.                              management of the               on June 28, 2023.
                                                       This regulation was issued to realize        Company’s Organs and
                                                       a harmonious and synchronized                Human Resources.
                                                       BUMN Ministerial Regulation
                                                       to support planned, integrated,
                                                       and continous management of
                                                       SOE, especially those related
                                                       to the appointment, dismissal,
                                                       and income of SOE’s Directors
                                                       and Commissioners, Talent
                                                       Management, and Supporting
                                                       Organs of SOE’s Commissioners.

         4.      Surat Keputusan Deputi Bidang         Peraturan ini merupakan                      Peraturan ini berdampak         Dengan telah diratifikasinya
                 Keuangan dan Manajemen                petunjuk teknis dari Peraturan               pada Perseroan untuk            Permen BUMN 2/2023 dalam
                 Risiko BUMN Nomor: SK-3/DKU.          Menteri BUMN RI Nomor PER-2/                 penyesuaian struktur,           Rapat Umum Pemegang Saham
                 MBU/05/2023 tentang Petunjuk          MBU/03/2023 tentang Pedoman                  komposisi dan kualifikasi       Tahunan Tahun Buku 2022
                 Teknis Komposisi dan Kualifikasi      Tata Kelola dan Kegiatan Korporasi           organ pengelola risiko          yang dilaksanakan pada tanggal
                 Organ Pengelola Risiko di             Signifikan BUMN yang mengatur                mengacu pada peraturan ini.     28 Juni 2023 maka seluruh
                 Lingkungan BUMN                       lebih lanjut mengenai kewajiban              This regulation has an impact   peraturan terkait PermenBUMN
                 Decree of the Deputy for Finance      BUMN untuk memiliki organ                    on the Company to adjust        2/2023 berlaku bagi Perseroan.
                 and Risk Management of SOE            pengelola risiko beserta dengan              the structure, composition,     With the ratification of SOE
                 Number: SK-3/DKU.MBU/05/2023          komposisi dan kualifikasi yang               and qualifications of risk      Ministerial Regulation 2/2023
                 concerning Technical Instructions     menjadi syarat setiap anggota                management organs,              (Permen BUMN 2/203) at the
                 for the Composition and               Organ Pengelola Risiko.                      referring to this regulation.   Annual General Meeting of
                 Qualifications of Risk Management     This regulation is a technical                                               Shareholders for the 2022
                 Organs within SOE                     guide from the Regulation of the                                             Financial Year, which was held
                                                       Minister of SOE of the Republic                                              on 28 June 2023, all regulations
                                                       of Indonesia Number PER-2/                                                   related to Permen BUMN
                                                       MBU/03/2023 concerning                                                       2/2023 apply to the Company.
                                                       Guidelines for Governance and
                                                       Significant Corporate Activities of
                                                       SOE, which further regulates the
                                                       obligations of SOE to have a risk
                                                       management organ along with
                                                       the composition and qualifications
                                                       required for each member of the
                                                       Risk Management Organ.




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                   Nama Peraturan                            Isi Peraturan                               Dampak                          Penyesuaian
  No.
                     Regulation                                 Content                                   Impact                          Adjustment

   5.      Surat Keputusan Deputi Bidang        Peraturan ini merupakan petunjuk               Peraturan ini berdampak           Dengan telah diratifikasinya
           Keuangan dan Manajemen               teknis dari Permen BUMN 2/2023                 pada Perseroan untuk              Permen BUMN 2/2023 dalam
           risiko BUMN Nomor: SK-6/DKU.         yang mengatur lebih lanjut                     penyesuaian kebijakan dan         Rapat Umum Pemegang Saham
           MBU/10/2023 tentang Petunjuk         mengenai serangkaian prosedur                  standar prosedur manajemen        Tahunan Tahun Buku 2022
           Teknis Proses Manajemen Risiko       dan metodologi terstruktur                     risiko, pelaksanaan proses        yang dilaksanakan pada tanggal
           dan Agregasi pada Taksonomi          yang meliputi perencanaan,                     identifikasi, pengukuran,         28 Juni 2023 maka seluruh
           Risiko Portofolio BUMN               pemantauan dan evaluasi atas                   perlakuan, pencatatan,            peraturan terkait Permen BUMN
           Decree of the Deputy for Finance     risiko yang timbul dari seluruh                pemantauan, evaluasi,             2/2023 berlaku bagi Perseroan.
           and Risk Management of SOE           kegiatan usaha BUMN, mencakup                  pelaporan dan sistem              With the ratification of SOE
           Number: SK-6/DKU.MBU/10/2023         sistem pengendalian intern, tata               informasi manajemen risiko,       Ministerial Regulation 2/2023
           concerning Technical Instructions    kelola terintegrasi, pelaporan dan             serta melaksanakan sistem         (Permen BUMN 2/203) at the
           for the Risk Management Process      pencapaian kinerja.                            pengendalian intern secara        Annual General Meeting of
           and Aggregation in the SPE           This regulation is a technical                 efektif mengacu pada              Shareholders for the 2022
           Portfolio Risk Taxonomy              guideline from Permen BUMN                     peraturan ini.                    Financial Year, which was held
                                                2/2023, which further regulates                This regulation has an impact     on 28 June 2023, all regulations
                                                a series of structured procedures              on the Company in adjusting       related to Permen BUMN
                                                and methodologies, including                   risk management policies          2/2023 apply to the Company.
                                                p l a n n i n g , m o n i to r i n g , a n d   and standard procedures,
                                                evaluating risks arising from all              implementing identification,
                                                business activities of SOEs. These             measurement, treatment,
                                                include internal control systems,              recording, monitoring,
                                                integrated governance, reporting,              evaluation, reporting,
                                                and achievements.                              and risk management
                                                                                               information systems, as well
                                                                                               as implementing an effective
                                                                                               internal control system
                                                                                               referring to this regulation.

   6.      Surat Keputusan Deputi Bidang        Peraturan ini merupakan petunjuk               Peraturan ini berdampak           Dengan telah diratifikasinya
           Keuangan dan Manajemen               teknis dari Permen BUMN 2/2023                 pada Perseroan untuk              Permen BUMN 2/2023 dalam
           risiko BUMN Nomor: SK-7/DKU.         yang mengatur lebih lanjut                     penyesuaian kebijakan             Rapat Umum Pemegang Saham
           MBU/10/2023 tentang Petunjuk         mengenai standarisasi pelaporan                dan prosedur evaluasi dan         Tahunan Tahun Buku 2022
           Teknis Pelaporan Manajemen           manajemen risiko yang merupakan                pelaporan manajemen risiko        yang dilaksanakan pada tanggal
           Risiko BUMN                          bagian dari proses evaluasi                    mengacu pada peraturan ini.       28 Juni 2023 maka seluruh
           Decree of the Deputy for Finance     manajemen risiko.                              This regulation has an impact     peraturan terkait Permen BUMN
           and Risk Management of SOE           This regulation is a technical                 on the Company, requiring it      2/2023 berlaku bagi Perseroan.
           Number: SK-7/DKU.MBU/10/2023         guideline from Permen BUMN                     to adjust its risk management     With the ratification of SOE
           concerning Technical Instructions    2/2023, which further regulates                evaluation and reporting          Ministerial Regulation 2/2023
           for Risk Management Reporting of     the standardization of risk                    policies and procedures           (Permen BUMN 2/203) at the
           SOEs                                 management reporting, which                    in accordance with this           Annual General Meeting of
                                                is part of the risk management                 regulation.                       Shareholders for the 2022
                                                evaluation process.                                                              Financial Year, which was held
                                                                                                                                 on 28 June 2023, all regulations
                                                                                                                                 related to Permen BUMN
                                                                                                                                 2/2023 apply to the Company.

    7.     Surat Keputusan Deputi Bidang        Peraturan ini merupakan petunjuk               Peraturan ini berdampak           Dengan telah diratifikasinya
           Keuangan dan Manajemen               teknis dari Permen BUMN 2/2023                 pada Perseroan untuk              Permen BUMN 2/2023 dalam
           risiko BUMN Nomor: SK-8/             yang mengatur lebih lanjut                     penyesuaian kebijakan dan         Rapat Umum Pemegang Saham
           DKU.MBU/12/2023 tentang              mengenai panduan bagi BUMN                     prosedur internal mengacu         Tahunan Tahun Buku 2022
           Petunjuk Teknis Penilaian Indeks     dalam melakukan Penilaian RMI                  pada peraturan ini.               yang dilaksanakan pada tanggal
           Kematangan Risiko (Risk Maturity     baik yang dilakukan oleh Tim                   This regulation has an impact     28 Juni 2023 maka seluruh
           Index) BUMN                          Penilai Internal maupun Penilai                on the Company, requiring it      peraturan terkait Permen BUMN
           Decree of the Deputy for Finance     Independen.                                    to adjust internal policies and   2/2023 berlaku bagi Perseroan.
           and Risk Management of SOE           This regulation is a technical                 procedures in accordance          With the ratification of SOE
           Number: SK-8/DKU.MBU/12/2023         guideline from Permen BUMN                     with this regulation.             Ministerial Regulation 2/2023
           concerning Technical Instructions    2/2023, which further regulates                                                  (Permen BUMN 2/203) at the
           for Assessment of the SOE Risk       guidelines for SOEs in carrying                                                  Annual General Meeting of
           Maturity Index                       out RMI Assessments, whether                                                     Shareholders for the 2022
                                                conducted by the Internal                                                        Financial Year, which was held
                                                Assessment Team or Independent                                                   on 28 June 2023, all regulations
                                                Appraisers.                                                                      related to Permen BUMN
                                                                                                                                 2/2023 apply to the Company.




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                                                                                                                                             Management Discussion and Analysis




                            Nama Peraturan                                   Isi Peraturan                              Dampak                            Penyesuaian
         No.
                              Regulation                                        Content                                  Impact                            Adjustment

          8.     Keputusan Menteri BUMN RI                        Peraturan ini merupakan petunjuk           Perseroan menyesuaikan               Penyesuaian pada penyusunan
                 Nomor SK-306/MBU/11/2023                         teknis dari Permen BUMN                    kebijakan dan prosedur               KPI Direksi baik secara kolegial
                 tentang Petunjuk Teknis                          2/2023 yang mengatur lebih                 internal mengacu pada                maupun individual.
                 Penyusunan Indikator Kinerja                     lanjut mengenai panduan bagi               peraturan ini.                       Adjustments are made to the
                 Utama (Key Performance Indicator)                Direksi dalam menyusun dan                 This regulation has an impact        preparation of collegial and
                 BUMN                                             mengusulkan KPI Direksi secara             on the Company, requiring it         individual KPI of Directors.
                 Decree of the Indonesian                         kolegial dan KPI Direksi secara            to adjust internal policies and
                 Minister of SOE Number SK-                       individual sebagai dasar penilaian         procedures in accordance
                 306/MBU/11/2023 concerning                       kinerja Direksi.                           with this regulation.
                 Te c h n i c a l I n s t r u c t i o n s f o r   This regulation is a technical
                 Preparing Key Performance                        guideline from Permen BUMN
                 Indicators for SOE.                              2/2023, which further regulates
                                                                  guidelines for Directors in
                                                                  compiling and proposing collegial
                                                                  and individual KPI of Directors as
                                                                  a basis for assessing Directors'
                                                                  performance.

          9.     Keputusan Sekretaris                             Peraturan ini merupakan tindak             Perseroan masih menunggu             Perseroan menggunakan
                 Kementerian BUMN RI Nomor                        lanjut dari Permen BUMN 2/2023             p e r at u r a n p e n g g a n t i   indikator/parameter lain yang
                 SK-12/S.MBU/08/2023 tentang                      yang mencabut Surat Keputusan              terkait proses pengukuran            berlaku bagi Perusahaan
                 Pencabutan Keputusan Sekretaris                  Sekretaris Kementerian BUMN                penerapan GCG.                       Terbuka dalam penerapan GCG.
                 Kementerian BUMN Nomor: SK-                      tentang Indikator/Parameter                The Company is still                 The Company uses other
                 16/S.MBU/2012 tentang Indikator/                 Penilaian dan Evaluasi Atas                waiting for the replacement          indicators/parameters
                 Parameter Penilaian Dan Evaluasi                 Penerapan Tata Kelola Perusahaan           regulations regarding the            applicable to Public Companies
                 Atas Penerapan Tata Kelola                       yang Baik.                                 process of measuring GCG             in implementing GCG.
                 Perusahaan Yang Baik (Good                       This regulation is a follow-up to          implementation.
                 Corporate Governance) Pada                       Permen BUMN 2/2023, which
                 Badan Usaha Milik Negara                         r e v o ke s t h e D e c r e e o f t h e
                 Decree of the Secretary of the                   Secretary of the Ministry of SOE
                 Indonesian Ministry of SOE                       concerning Indicators/Parameters
                 Number SK-12/S.MBU/08/2023                       for Assessment and Evaluation
                 concerning the Revocation of the                 of the Implementation of Good
                 Decree of the Secretary of the                   Corporate Governance.
                 Ministry of SOE Number: SK-16/S.
                 MBU/2012 concerning Indicators/
                 Parameters for Assessment and
                 Evaluation of the Implementation
                 of Good Corporate Governance in
                 State-Owned Enterprises.

         10.     Peraturan Otoritas Jasa Keuangan                 Menggantikan Peraturan Otoritas            Perseroan dalam memenuhi             Pemenuhan kewajiban di
                 Republik Indonesia Nomor 9                       Jasa Keuangan Republik Indonesia           kewajiban-kewajiban                  bidang Pasar Modal terkait
                 Tahun 2023 tentang Penggunaan                    Nomor 13/POJK.13/2-17 tentang              di bidang Pasar Modal                Akuntan Publik dan Kantor
                 Jasa Akuntan Publik dan Kantor                   Penggunaan Jasa Akuntan Publik             khususnya terkait Kantor             Akuntan Publik dipenuhi
                 Akuntan Publik dalam Kegiatan                    dan Kantor Akuntan Publik dalam            Akuntan Publik wajib                 berdasarkan peraturan ini.
                 Jasa Keuangan                                    Kegiatan Jasa Keuangan.                    memperhatikan ketentuan              The fulfillment of obligations
                 Financial Services Authority                     The Company replaced the                   POJK 9/2023.                         in the Capital Market sector
                 Regulation of Indonesia Number                   Financial Services Authority               In fulfilling its obligations in     related to Public Accountants
                 9 of 2023 concerning the Use of                  Regulation of Indonesia Number             the Capital Market sector,           and Public Accounting Firms is
                 Public Accountants and Auditing                  13/POJK.13/2-17 concerning Use of          especially regarding Public          based on this Regulation.
                 Firms in Financial Services                      Public Accountants and Auditing            Accounting Firms, the
                                                                  Firms in Financial Services in             Company must pay attention
                                                                  Financial Services Activities.             to the provisions of POJK
                                                                                                             9/2023.




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    PERUBAHAN KEBIJAKAN AKUNTANSI DAN DAMPAKNYA
                            TERHADAP PERSEROAN
                                          Changes in Accounting Policies and Its Impact on the Company



Penerapan dari standar, interpretasi baru/revisi standar berikut   The implementation of the new/revised interpretations of
yang berlaku efektif mulai 1 Januari 2023, tidak menimbulkan       standards effective starting January 1, 2023, does not cause
perubahan substansial terhadap kebijakan akuntansi Perseroan       substantial changes to the Company’s accounting policies and
dan pengaruh yang material atas jumlah yang dilaporkan atas        does not have a material impact on the amounts reported for
tahun berjalan atau tahun sebelumnya.                              the current or previous year.




                                                INFORMASI KELANGSUNGAN USAHA
                                                                                  Business Continuity Information



Sejalan dengan pertumbuhan industri penerbangan pasca              n line with the post-pandemic growth of the aviation industry,
pandemi, Perseroan melakukan berbagai inisiatif untuk              the Company is undertaking various initiatives to enhance
terus meningkatkan kinerja keuangan dan menjaga kondisi            financial performance and maintain operational conditions.
operasional. Perseroan berhasil melakukan peningkatan nilai        During 2023, the Company succeeded in increasing transaction
transaksi dengan pelanggan selama 2023 yang disebabkan oleh        values with customers, caused by several factors including the
beberapa hal seperti program reaktivasi pesawat, pemberlakuan      aircraft reactivation program, implementation of new tariffs
tarif baru atas kontrak perawatan PBTH (“Power by the Hours”),     for PBTH (“Power by the Hours”) maintenance contracts,
penambahan kontrak baru atas pelanggan non afiliasi, dan           acquisition of new contracts from non-affiliated customers,
pemeliharaan pesawat dari Kesekretariatan Negara (Setneg).         and aircraft maintenance services for the State Secretariat
Perseroan membukukan keuntungan sebesar USD20,15 juta              (Setneg). The Company reported a profit of USD20.15 million
pada tahun 2023 (2022: laba USD 3,63 juta), tapi modal kerja       in 2023 (compared to USD3.63 million in 2022), with negative
negatif sebesar USD 33,10 juta (2022: AS$47,87 juta), dan          working capital of USD33.10 million (compared to USD47.87
ekuitas negatif sebesar USD 311,16 juta pada 31 Desember           million in 2022), and negative equity of USD311.16 million as of
2023 (2022: USD 331,02 juta).                                      December 31, 2023 (compared to USD331.02 million in 2022).

Selama 2023 dan berlanjut pada 2024, Perseroan melakukan           Throughout 2023 and continuing into 2024, the Company
upaya perbaikan kinerja keuangan melalui program peningkatan       strives to enhance financial performance through programs
profitabilitas, restrukturisasi utang, serta perbaikan ekuitas.    aimed at increasing profitability, debt restructuring, and equity
                                                                   improvements.

PENINGKATAN PROFITABILITAS                                         INITIATIVES TO INCREASE PROFITABILITY:
1. Peningkatan Customer Share of Wallet, merupakan inisiatif       1. Increasing Customer Share of Wallet, aims to increase the
   untuk meningkatkan porsi pendapatan dari pelanggan                 portion of income from existing customers. Efforts in 2023
   yang sudah ada saat ini. Pada 2023, Perseroan berhasil             resulted in increased transaction values, especially from
   meningkatkan nilai transaksi khususnya dari pelanggan di           customers in East Asia and Southeast Asia regions. The
   Kawasan Asia Timur dan Asia Tenggara. Saat ini Perseroan           Company also secured additional contracts from several
   juga mendapatkan tambahan kontrak baru dari beberapa               customers including Setneg, Martin Air, Aerotranscargo,
   pelanggan seperti Setneg, Martin Air, Aerotranscargo, Max          Max Air, Air Atlanta, Korean Air, Tway dan Jin Air.
   Air, Air Atlanta, Korean Air, Tway dan Jin Air.




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      2. “Have Your Own MRO” merupakan inisiatif yang ditawarkan        2. “Have Your Own MRO” that offers customers special slots
         kepada pelanggan dengan memberikan slot khusus dan                and labor for aircraft maintenance, successfully implemented
         tenaga kerja untuk perawatan pesawatnya dan sepanjang             throughout 2023.
         2023 program ini telah berhasil ditawarkan ke pelanggan.
      3. Zero Cost of Poor Quality (“COPQ”) dilakukan guna menjaga      3. Zero Cost of Poor Quality (“COPQ”) to maintain service quality,
         kualitas pelayanan melalui berbagai inisiatif perbaikan           focuses on quality improvement efforts to prevent rework
         kualitas sehingga aktivitas operasional bisnis Perseroan          costs. The Company also conducts various outreach programs
         dapat berlangsung secara efektif dan efisien tanpa                on safety aspects and updates training materials to enhance
         menimbulkan biaya pengerjaan kembali. Selain itu pada 2023        employee understanding of safety.
         Perseroan melakukan berbagai program sosialisasi tentang
         aspek keselamatan, peningkatan pemahaman karyawan
         terhadap keselamatan, melakukan pembaharuan terhadap
         materi pelatihan, serta memasukkan aspek keselamatan
         dalam program penilaian karyawan.
      4. Optimalisasi Supply Chain Management , dilakukan               4. Optimizing Supply Chain Management through regular
         pengawasan secara berkala atas berbagai upaya perbaikan           monitoring to improve the management of materials,
         pengelolaan material, subcont, dan persediaan, sehingga           subcontracts, and supplies to prevent losses.
         tidak menimbulkan kerugian.
      5. Optimalisasi Aset dan Persediaan, dilakukan telaah terhadap    5. Optimization of Assets and Inventory by reviewing the
         utilisasi dari seluruh aset yang ada dan persediaan tidak         utilization of existing assets and immovable inventory
         bergerak sehingga dapat memperbaiki tingkat optimalisasi          to enhance optimization levels, including selling assets/
         pemanfaatan, maupun penjualan untuk aset/persediaan               inventory not in use.
         yang tidak akan digunakan.
      6. Pengembangan organisasi dan bisnis Industrial Solution         6. Development of Industrial Solution Organization and
         seperti untuk pengembangan Bisnis Industri Mesin Gas              Business that include the development of the Gas Turbine
         Turbin (”IGTE”) dan fabrikasi.                                    Engine Industry (“IGTE”) and fabrication business.
      7. Pengembangan sumber daya manusia seperti pengembangan          7. Human Resource Development: Programs such as certified
         engineer tersertifikasi, program pengembangan                     engineer development, leadership development, and multi-
         kepemimpinan, serta program multiperan. Program                   role programs are implemented to increase labor productivity.
         multiperan untuk peningkatan produktivitas tenaga kerja
         dengan memberikan program pengembangan, sehingga
         dapat saling mengisi apabila terjadi kekurangan tenaga kerja
         di tipe pekerjaan tertentu.

      RESTRUKTURISASI UTANG                                             DEBT RESTRUCTURING
      Perseroan melakukan program Restrukturisasi Utang yang            The Company is undertaking debt restructuring programs for
      terdiri dari Utang Bank dan juga Utang Pemasok.                   both Bank Debt and Supplier Debt.
      1. Restrukturisasi Utang Bank                                     1. Bank Debt Restructuring
         Pada tahun 2023, Perseroan melakukan restrukturisasi              In 2023, it includes restructuring for BRI and CTBC working
         utang atas kredit modal kerja BRI dan CTBC. Pada tahun            capital loans, following the restructuring of Maybank, BNI,
         2022, Perseroan melakukan restrukturisasi utang Maybank,          and IIF debt in 2022.
         BNI, dan IIF.
      2. Restrukturisasi Utang Pemasok                                  2. Supplier Debt Restructuring
         Restrukturisasi terus dilakukan melalui skema one-on-one          It continues through a one-on-one (out of court) scheme,
         (out of court), dengan status hingga Desember 2023 adalah         with payments completed to 376 vendors, payment plans
         telah diselesaikan pembayaran utang kepada 376 vendor,            agreed upon with 377 suppliers, and negotiations ongoing
         menyepakati payment plan dengan 377 pemasok, dan masih            with 7 suppliers as of December 2023.
         dalam proses negosiasi dengan 7 pemasok.

      Selain itu, Perseroan juga melakukan perbaikan likuiditas         Additionaly, the Company also improved its liquidity by
      Perseroan melalui percepatan peningkatan penerimaan kas           accelerating the increase in cash receipts from customers,
      dari pelanggan, beserta dengan penyelesaian utang pemasok.        along with resolving supplier debts.




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PERBAIKAN EKUITAS                                                 EQUITY IMPROVEMENTS
Melanjutkan rencana untuk melakukan penjualan saham               Continued the plans to sell GDPS shares, preparing GDPS to
GDPS, sehingga diharapkan ke depannya GDPS dapat lebih            develop its business outside the Garuda Group (through network
mengembangkan bisnis di luar Garuda Grup (melalui dukungan        and financial support from investors). The Company is currently
network dan financial dari investor). Perseroan sedang dalam      searching for potential investors who are interested in purchasing
tahap pencarian calon investor yang berminat untuk melakukan      the Company’s shares in GDPS. Additionaly, alignment with
pembelian saham Perseroan di GDPS. Selain itu juga akan terus     Shareholders will also continue regarding this initiative.
dilakukan penyelarasan dengan Pemegang Saham terkait inisiatif
ini.

Perseroan akan kembali melakukan penjajakan kemitraan baik        The Company will again explore partnerships with airlines,
dengan perusahaan penerbangan, MRO, maupun OEM, dengan            MROs and OEMs, while still following applicable procedures.
tetap mengikuti prosedur yang berlaku.

Kelangsungan usaha Perseroan dapat terdampak oleh                 The Company’s business continuity may be affected by
ketidakpastian material yang timbul dari risiko-risiko tersebut   material uncertainties arising from these risks and the financial
dan laporan keuangan tidak termasuk penyesuaian yang timbul       statements do not include adjustments arising from these
dari ketidakpastian tersebut.                                     uncertainties.




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158                                                                    Fungsi Penunjang Bisnis
                                                                      Business Support Function




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                                                05




                                                    FUNGSI
                                                 PENUNJANG
                                                     BISNIS
                                                Business Support Function
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                                                                                                                    Business Support Function




      SUMBER DAYA MANUSIA
      Human Capital


      Kegiatan di bidang usaha MRO mencakup berbagai macam hal          MRO activities covers a wide variety of tasks, requiring the
      yang memerlukan pengoperasian secara manual oleh manusia          manual operation by human to conduct routine maintenance,
      untuk melakukan pemeliharaan rutin, perbaikan yang rumit,         intricate repairs, and inspections. While advance machinery aids
      dan inspeksi. Meskipun didukung oleh mesin-mesin canggih          in the operational process, skillful human who takes control of
      yang membantu proses pengerjaan, keahlian manusia yang            the operation becomes critical.
      memegang kendali sangatlah penting.

      Sebagai penyedia layanan MRO dengan reputasi cemerlang, GMF       As a reputable MRO service provider, GMF places strong emphasis
      sangat menekankan adanya jaminan dari kualitas pelayanan GMF      on quality assurance and reliability through its skilled workforce.
      yang dapat selalu diandalkan karena memiliki tenaga kerja yang    These employees went through rigorous training to adhere to
      terampil. Para pegawai telah menjalani pelatihan ketat untuk      industry standards and regulatory requirements.
      mematuhi standar industri dan persyaratan regulasi.

      GMF mengutamakan pentingnya untuk memiliki pegawai                GMF prioritizes the importance of well-trained and experienced
      yang terlatih dan berpengalaman untuk menjaga integritas          employees to uphold the integrity of its operations with minimal
      operasionalnya dengan kesalahan yang minimal, menjamin            errors, ensuring the safety of passengers, crew, and the aircraft
      keselamatan penumpang, awak pesawat, dan pesawat itu sendiri.     itself.

      PENGELOLAAN SDM SEBAGAI BAGIAN DARI                               HR MANAGEMENT AS PART OF SOCIAL
      KINERJA SOSIAL                                                    PERFORMANCE

      Sebagai bagian dari kinerja keberlanjutan Perseroan dan           As part of the Company’s sustainability performance and
      pengungkapan sesuai pedoman teknis POJK Nomor 51/                 disclosure in accordance with the technical guidelines of POJK
      POJK.03/2017, yang disesuaikan dengan referensi GRI 2021,         Number 51/POJK.03/2017, with reference towards the 2021
      Perseroan mengungkapkan aspek ketenagakerjaan melalui             edition of GRI, the Company reveals labor-related aspects
      pengelolaan Sumber Daya Manusia (SDM) sebagai bagian dari         through Human Capital (HC) management as a component of
      kinerja keberlanjutan dalam hal kinerja sosial. Kinerja sosial    sustainability performance in terms of social responsibility. The
      terkait aspek masyarakat dan konsumen akan diungkapkan            social performance related to community and consumer aspects
      pada pembahasan mengenai Laporan Keberlanjutan setelah            will be disclosed in the Sustainability Report discussions following
      Laporan Tahunan ini.                                              this Annual Report.

      Pentingnya memiliki pegawai yang ahli dan profesional di bidang   The significance of having skilled and professional employees
      MRO tidak lantas membuat GMF mendorong pengelolaan pegawai        in the MRO field does not imply that GMF values employee
      hanya untuk kepentingan bisnis semata. Pegawai lebih dari         management solely for business purposes. Employees are more
      sekedar aset dan merupakan salah satu pemangku kepentingan        than mere assets; they are stakeholders with a strategic role
      dengan posisi strategis untuk menentukan keberhasilan usaha.      in determining business success. In general, GMF’s employee
      Secara umum, kebijakan pengelolaan karyawan didasarkan pada       management policies are grounded in principles of equal rights
      persamaan hak dan kesetaraan kesempatan dalam bekerja,            and opportunities in the workplace, competency development,
      pengembangan kompetensi, penilaian kinerja dan peningkatan        objective performance assessment, career advancement, and
      jenjang karir yang objektif, dan menerima paket remunerasi yang   fair remuneration packages based on performance results. [3-3]
      adil sesuai hasil kinerjanya. [3-3]

      ROADMAP PENGELOLAAN SDM                                           HC ROADMAP

      GMF memiliki Visi “Most Valuable MRO Company”. SDM memiliki       GMF has a vision to become the “Most Valuable MRO Company.”
      peran penting dalam mencapi Visi agar dapat selalu menjadi        Human resources play a crucial role in realizing this vision, as
      bagian dari mata rantai kualitas operasional dalam menyediakan    they are integral to the operational quality chain in delivering
      solusi perawatan pesawat terbang yang terpadu dan handal.         integrated and reliable aircraft maintenance solutions.




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Dalam perjalanan GMF setiap tahunnya terdapat tantangan dan                                  Each year, GMF encounters challenges and opportunities that
peluang yang membentuk strategi pengelolaan SDM. Salah satu                                  shape its HC management strategies. A pivotal moment in HR
titik balik dari perkembangan SDM adalah pada tahun 2016 saat                                development occurred in 2016 when GMF implemented the
GMF mengaplikasikan Program “MyHC” yang mengintegrasikan                                     “MyHC” Program, integrating various other HR programs within
berbagai program SDM lainnya di Perseroan. Berawal dari tahun                                the Company. Since then, the development of GMF’s Human
2016, perkembangan roadmap Human Capital Strategy GMF                                        Capital Strategy roadmap has undergone various advancements
mengalami berbagai perkembangan hingga akhir tahun pelaporan                                 until the end of the reporting year in 2023, which can be described
pada 2023 sebagai berikut:                                                                   as follows:




                      2016                                                             2017                                                 2018


 •   Memasang Program         •       Setting up “MyHC”           •   Meningkatkan           •   Enhancing the          •   Memastikan gaji       •   Ensuring the salary
     “MyHC”                           Program                         Assessment Center          Assessment Center          memenuhi standar          to meet the regional
 •   Menanamkan               •       Embedding discipline        •   Menerapkan             •   Implementing the           regional                  standard
     budaya disiplin pada             culture on all                  Program Global             Global Leadership      •   Menanamkan Nilai-     •   Embedding GMF
     semua karyawan                   employees                       Leadership                 Program                    Nilai GMF ke semua        Values to all
 •   Program “GMF             •       “GMF Goes to                •   Menerapkan Sistem      •   Applying the new           karyawan                  employees
     Goes to School”                  School” Program                 Manajemen Karir            Career Management      •   Menjadikan GMF        •   Making GMF the
 •   Menyiapkan HCM           •       Setting up HCM                  yang baru                  System                     “Top 5 Employers of       “Top 5 Employers of
     Shared Processing                Shared Processing           •   Mengembangkan          •   Developing the             Choice”                   Choice”
     Center                           Center                          Manajemen Bakat            Online Talent
 •   Mengintegrasikan         •       Integrating SWIFT               Online                     Management
     SWIFT MRO dengan                 MRO with quality &          •   Menerapkan             •   Using Distinctive
     kualitas & integritas            integrity data                  Imbalan Khusus             Rewards as a new
     data                                                             sebagai merek baru         brand
 •   Membuat standar          •       Making an employee          •   Menerapkan             •   Applying new
     cara berpakaian                  grooming standard               rencana nilai              employee value
     karyawan                                                         karyawan baru              proposition
 •   Memperkuat               •       Strengthening               •   Membuat                •   Making manpower
     penghargaan                      performance-driven              perencanaan                planning based on IT
     berbasis kinerja                 reward                          tenaga kerja               system
                                                                      berbasis sistem IT




                       2021                                                           2020                                                  2019


 •   Mengatur Cash Out            •     Regulating the Cash       •   Menyediakan MRO        •   Providing MRO          •   Menjadikan GMF        •   Making GMF the list
     dan Staff Expense                  Out and Staff Expense         Assessment Center          Assessment Center          masuk jajaran 10          of 10 best companies
     dengan optimalisasi                by optimizing the         •   Strategi               •   Survival Strategy          Perusahaan Terbaik        to work in Indonesia
     Non Financial Benefit              Non Financial Benefit         Survival melalui           through the                untuk Bekerja di
     Program                            Program                       implementasi:              implementation of:         Indonesia
 •   Menerapkan                   •     Implementing              •   Multirole Program      •   Multirole Program      •   Meningkatkan          •   Improving GMF’s
     Personalized                       the Personalized          •   Melakukan              •   Staff Expense              kapasitas                 capacity as a
     Development Program                Development Program           Staff Expense              Optimization               GMF penyedia              professional aviation
     untuk beberapa                     on several Critical Job       Optimization                                          penerbangan               provider
     Critical Job Function              Function                  •   Implementasi           •   Organizing the             profesional
 •   Implementasi                                                     “Keeping Up                “Keeping Up
     Foundational                 •     Implementing                  Employee Morale”           Employee Morale”
     Leadership Skill untuk             the Foundational              melalui program            program through
     memenuhi kebutuhan                 Leadership Skill to           Counseling Corner,         Counselling Corner,
     KSA (Knowledge, Skill,             meet Leader’s KSA             Telemedicine, dan          Telemedicine, and
     Attitude) Leader                   (Knowledge, Skill,            GMF Against Covid          GMF Against Covid
 •   Sosialiasi &                       Attitude)                     (pendampingan              (psychological
     Internalisasi Core           •     Socialization &               konseling psikologis       counselling for
     Values AKHLAK                      Internalization of            pegawai yang               employees affected
 •   Mengembangkan                      AKHLAK’s Core Values          terdampak                  by COVD-19)
     Employee Digitization        •     Developing the                COVID-19)
     Assistance                         Employee Digitization
 •   Menerapkan                         Assistance
     Customize Training           •     Implementing the
     Program                            Customize Training
                                        Program


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                                           2022                                                                                           2023


        •   Melakukan Program Employee           •    Conducting Employee Branding Program         •     Memberikan penghargaan kepada           •   Providing rewards to increase the
            Branding melalui akun @gmfheroes          through the @gmfheroes account                     untuk meningkatkan kompetensi               competency of potential employees
        •   Melakukan telaah Total               •    Conduct a review of Total                          karyawan potensial melalui                  through certification and licenses in
            Compensation                              Compensation                                       tunjangan sertifikasi dan lisensi           aircraft maintenance
        •   Melakukan akseleresasi Digital HC    •    Accelerating Digital HC Transformation             perawatan pesawat udara                 •   Reviewing the benefits provided in the
            Transformation                                                                         •     Menelaah benefit yang diberikan di          employment aspect
        •   Menerapkan Personalized              •    Implement Personalized Development                 bidang kepegawaian                      •   Facilitating employees by providing daily
            Development Program untuk                 Program for several Critical Job             •     Memfasilitasi karyawan dengan               transportation allowances
            sejumlah Critical Job Function            Functions                                          memberikan tunjangan transportasi       •   Continuing the implementation of Digital
        •   Melakukan In-House Operational       •    Conduct In-House Operational                       harian                                      HC Transformation
            Leadership Program Training               Leadership Program Training                  •     Melanjutkan implementasi Digital HC     •   Continuing the Personalized Employee
        •   Mempersiapkan konsep baru Masa       •    Preparing for a new concept of                     Transformation                              Development Program for specific
            Persiapan Pensiun                         Retirement Preparation Period                •     Melanjutkan Program Personalisasi           functions, such as Instructors
        •   Menerapkan Customize Training        •    Implement Customize Training Program               Pengembangan Pegawai untuk              •   Implementing a Rookie Development
            Program & Aggressive Soft Selling         & Aggressive Soft Selling Marketing                fungsi jabatan tertentu, seperti            Program to recruit Bachelor (S1) graduates
            Marketing                                                                                    Instruktur                                  from various technical educational
                                                                                                   •     Melaksanakan Rookie Development             backgrounds (to work in Engineering
                                                                                                         Program untuk menjaring lulusan             and Planning divisions) and social
                                                                                                         Sarjana (S1) dari berbagai latar            backgrounds (business support) to
                                                                                                         belakang pendidikan teknik (untuk           offer a comprehensive learning pattern
                                                                                                         area kerja di Engineering dan               (experiential learning), preparing them to
                                                                                                         Planning) maupun Sosial (pendukung          become talented future leaders.
                                                                                                         bisnis) untuk mendapatkan pola
                                                                                                         pembelajaran komprehensif
                                                                                                         (experiential learning) sehingga siap
                                                                                                         untuk menjadi talenta leader di masa
                                                                                                         depan.



      STRUKTUR PENGELOLA SDM                                                                     HC MANAGEMENT STRUCTURE

                                           Struktur Departemen dan Tugas Pokok Human Capital Management GMF
                                              GMF Human Capital Management Department Structure & Main Duties


                                                                                     Plays as a Strategic
                                                                                   Partner for the Company




            Human Capital              Employee Services &           Corporate Culture &               Leader & Talent                                          Compensation & Benefit
                                                                                                                                    Learning Services
            Development                     Payroll                Knowledge Management                 Development                                                 Management




                                                     62                                                               6
                                                     personil dalam tim                                               divisi yang menangani tugas berbeda
                                                     personnel in the team                                            divisions handling different tasks




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                                                                 Human Capital
                                                                Management (TH)




   Corporate Culture &
                            Performance & Reward     Human Capital          Leader & Talent       Employee Service &         Learning Service
 Knowledge Management
                                    (THC)          Development (THL)       Development (THL)        Payroll (THS)                 (THW)
         (THB)




                                                                                                Employee Data Quality &
                                                                                                                             Quality Training
                                                                                                       Service




                                                                                                  Travel Management         Basic Maintenance




                                                                                                                           Aircraft & Component
                                                                                                  Industrial Relation
                                                                                                                               Type Training




                                                                                                  Employee Service &
                                                                                                    Payroll (THS)




GMF memiliki Departemen Human Capital Management yang                     GMF has a Human Capital Management Department that is
bertanggung jawab mengelola SDM Perseroan. Departemen                     responsible for managing the Company’s HC. This department is
ini dipimpin oleh seorang VP Human Capital Management yang                led by a VP Human Capital Management who reports directly to
bertanggung jawab langsung kepada Direktur Human Capital &                the Director of Human Capital & Corporate Affairs. The VP Human
Corporate Affairs. VP Human Capital Management dijabat oleh               Capital Management is Mr. Eldira Umar Ali Zain. Meanwhile,
Bapak Eldira Umar Ali Zain. Sedangkan Direktur Human Capital              the Director of Human Capital & Corporate Affairs is Mr. Pudjo
& Corporate Affairs dijabat oleh Bapak Pudjo Sarwoko. Profil              Sarwoko. Their profiles are available in the Profiles of Board of
mereka dapat dilihat di Profil Direksi dan Pejabat Eksekutif              Directors and Executive Officers in the Company Profile Chapter
dalam Bab Profil Perusahaan dalam Laporan Terintegrasi ini.               of this Integrated Report.

STRATEGI MANAJEMEN SDM                                                    HC MANAGEMENT STRATEGY

GMF memastikan adanya hubungan yang erat antara strategi                  GMF ensures there is a strong relations between HR management
manajemen SDM dan strategi manajemen bisnis yang terdapat                 strategies and business management strategies outlined in
pada Rencana Kerja Perusahaan (RKAP) pada tahun 2023                      the 2023 Company’s Work Plan (RKAP) and the 2020-2024
maupun Rencana Jangka Panjang Perusahaan (RJPP) 2020-                     Company’s Long-Term Plan (RJPP), currently in effect. A well-
2024 yang saat ini berlaku. Strategi manajemen SDM yang                   aligned HR management strategy will support optimal business
tepat akan mendukung perkembangan usaha secara maksimal                   development towards future sustainability.
menuju keberlanjutan usaha di masa mendatang.

GMF memiliki enam tahapan people cycle yang menjadi                       GMF follows six stages of the people cycle as the basis for HR
landasan dalam pengelolaan SDM. Landasan ini terbukti efektif             management. This foundational approach has proven effective
untuk menjaga kapabilitas SDM dan akan terus digunakan                    in maintaining HR capabilities and will continue to be utilized
karena kesesuaiannya dengan kondisi yang saat ini dihadapi                due to its suitability to the current conditions faced by GMF.
GMF. Keenam landasan tersebut adalah Attracting, Utilizing,               These six stages are Attracting, Utilizing, Developing, Rewarding,
Developing, Rewarding, Maintaining, Terminating. Setiap tahap             Maintaining, and Terminating. Each stage of the foundation
dari landasan diimplementasikan dengan pelayanan berbudaya                is implemented with the 3S (Smile, Speed, Solution) work
kerja 3S (Smile, Speed, Solution), pemanfaatan teknologi                  culture services, utilization of information technology, quality



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      informasi, peningkatan kualitas, serta Performance Security                                      improvement, and Performance Security, including Security
      termasuk Security Device.                                                                        Devices.




                                                                              Corporate Culture Management




           Attracting                             Utilizing                   Developing                 Rewarding                       Maintaining                                Terminating

                                                                                                                                         • Career
         Benefit non-finansial                                                • Personalized                                             • Management
                                                                                                       • Reward Strategy                                                            • Pension & Benefit
       untuk mempertahankan                                                     Development                                              • Succession
                                               • Manpower                                                (Base pay &                                                                • Program Masa
       daya tarik terhadap GMF                                                  Program                                                    Planning (Talent
                                                 Planning                                                Contingent Pay)                                                              Persiapan Pensiun
         Non-financial benefit                                                • Leader                                                     pool, Successor
                                               • Multirole Program                                     • Pension and                                                                • Retirement
        so that GMF will remain                                                 Development                                                Readiness)
                                                                                                       • Benefit                                                                      Planning Program
               attractive                                                     • Training Center                                          • Employee
                                                                                                                                           Effectiveness




                                                               Human Capital Information System (SAP HCM Module)



      SISTEM INFORMASI HUMAN CAPITAL                                                                   HUMAN CAPITAL INFORMATION SYSTEM


                                                                                                                     TIME MANAGEMENT
                          PERFORMANCE MANAGEMENT &                                                                   Work Schedule | Leave | Attendance
                                   GOAL MANAGEMENT
                                  IPP | IPT | IDP | IDAP | Potential Review

                                                                                                                                   PAYROL
                                                                                                                                   Payslip | Payroll Information
                                            SUCCESSION
                                    RTC | Succession Chart |                                TALENT
                                          Assessment Result                               MANAGEMENT
                                                                                                                                         BENEFIT
                                                                                                                                         Ticket Concession | Mobile Reimbursement |
                                                                                                                                         Project Management Payment | Eyeglass
                                                                                                                                         Reimbursement | Special Greetings | Eazy X-
                                                                                                                                         Perience | Form Railink | Form Daycare
                          PROJECT MANAGEMENT
                             Project Monthly Achievement
                                                                                                                                   EMPLOYEE DATA UPDATE & REPORT
                                                                                                                                   Update Akte Kelahiran | Update Personal Data |
                                                                                                                                   Update Pendidikan | Laporan Pernikahan |
                                                                                                                                   Laporan Kelahiran | Laporan Perceraian |
                                                                                                                                   Laporan Kematian | Laporan Perubahan
                                                  COMPENSATION                                                                     Status Anak
                                                  Short Term Incentive |
                                                  Long Term Incentive |
                                               Bonuses | Flexible Benefit                                             CHAT BOT
                                                                                                                     Bridging FAQ MS Team




      GMF menerapkan Human Capital Information System (HCIS)                                           GMF implements a Human Capital Information System (HCIS) to
      untuk membantu mengelola Departemen Human Capital                                                help the Human Capital Management Department manages the
      Management mengelola SDM. HCIS berfungsi sebagai strategic                                       HC operation. HCIS functions as a strategic business partner to
      business partnership untuk mendukung daily operation dalam                                       support daily operations, particularly in maintaining productivity
      rangka menjaga produktivitas melalui pengelolaan manpower                                        through manpower optimization and manhour efficiency. HCIS
      optimization dan manhour efficiency. HCIS (MyHC) telah berjalan                                  (MyHC) has been running since 2022 with many features such as
      sejak tahun 2022 dengan menampilkan fitur-fitur seperti new                                      a new landing page, talent management, and benefit booklets.
      landing page, talent management, booklet benefit dan KM Portal.




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Pada tahun 2023, Perseroan menggunakan sistem HCIS                         In 2023, the Company utilizes the fully integrated HCIS system
secara menyeluruh dan terintegrasi dengan dukungan aplikasi                on all operational aspects, supported by advanced technology
teknologi modern – mobile, user experience, social collaboration,          – mobile, user experience, social collaboration, analytics. The
analytics untuk mendukung pengelolaan SDM. Perseroan terus                 Company has always increased the HCIS according to the
meningkatkan kapasitas HCIS, sesuai dengan perkembangan                    industry developments and challengesp particularly in 2023
dan tantangan industri, dan pada tahun 2023, perkembangan                  which based on:
HCIS berpedoman pada:
1. Performance Management: Streamline Talent Management                    1. Performance Management: Streamline Talent Management
   by myHC                                                                    by myHC
2. Transaction Excellent: Streamline Core HR and Employee                  2. Transaction Excellent: Streamline Core HR and Employee
   Services by SAP HCM & myHC MobileApps                                      Services by SAP HCM & myHC MobileApps
3. Support SAP Swift MRO: Streamline Capacity Planning & PEU               3. Support SAP Swift MRO: Streamline Capacity Planning & PEU

Perkembangan HCIS memberikan sejumlah manfaat untuk                        Updating HCIS offers numerous benefits to support GMF in
mendukung GMF mengambil keputusan yang cepat dan tepat                     making quick and appropriate decisions for developing human
dalam mengembangkan SDM secara transparan dan obyektif.                    resources in a transparent and objective manner. Utilizing
SAP SuccessFactor dan myHC membantu GMF menjaga kualitas                   SAP SuccessFactor and myHC helps GMF maintain the quality
database pegawai (sharing responsibility). Aplikasi ini juga dapat         of the employee database through shared responsibility.
mengurangi pekerjaan administrasi sehingga para leader dapat               Additionally, this application streamlines administrative tasks,
lebih fokus memberikan konsultasi dan mengawal pelaksanaan                 enabling leaders to focus more on providing consultations and
strategi Human Capital (empowerment).                                      overseeing the implementation of Human Capital strategies
                                                                           for empowerment.

REKRUTMEN                                                                  RECRUITMENT

                                                           Metode Perekrutan Karyawan
                                                           Employee Recruitment Methods


                                                                 Karyawan GMF
                                                                   GMF Employees



                                                Rekrutmen Internal            Rekrutmen Eksternal
                                                Internal Recruitment           External Recruitment



                                            Mutasi            Promosi         Make              Buy
                                            Mutation          Promotion       Make              Buy




GMF mengelola talenta para karyawan melalui berbagai                       GMF manages employee talent through various stages, including
tahapan, dan salah satunya adalah melalui proses rekrutmen.                the recruitment process. GMF recruits employees based on two
GMF merekrut karyawan berdasarkan sumber calon karyawan,                   potential sources: internal and external.
yaitu dari internal dan eksternal.

Sepanjang tahun 2023, GMF melakukan perekrutan karyawan                    Throughout 2023, GMF recruited employees to meet Manpower
untuk memenuhi target MPP (Manpower Planning) melalui                      Planning (MPP) targets through several methods. GMF prioritizes
beberapa cara. GMF memprioritaskan untuk memenuhi                          meeting its needs by sourcing from internal sources. This is done
kebutuhan karyawan dari sumber internal. Cara ini dilakukan                through competency development for potential employees by
melalui pengembangan kompetensi bagi karyawan berpotensi                   facilitating cross-department transfers. In addition to transfers,
dengan melakukan mutasi lintas dinas. Selain mutasi, Perseroan             the Company also promotes employees who perform well and
juga mempromosikan karyawan berkinerja baik yang memenuhi                  meet the necessary requirements.
persyaratan.




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      Sedangkan untuk calon karyawan yang bersumber dari eksternal,       For candidates coming from external sources, the recruitment
      proses rekrutmen dilakukan dengan menggunakan metode make           process is done through make and/or buy. GMF is recruiting
      dan/atau buy. Rekrutmen “make” dilakukan dengan memilih             fresh graduates (“make”) from high school, those with diploma
      kandidat fresh graduate dari lulusan SLTA, D3, dan Perguruan        (D3) degrees, and college graduates. All recruits will then follow
      Tinggi. Setelah diangkat, nantinya mereka akan mengikuti            different stages of the employee development process. GMF also
      berbagai tahap pengembangan sesuai dengan ketentuan. GMF            collaborates with several institutions to find the best candidates.
      bekerja sama dengan sejumlah institusi untuk mendapatkan            Through this “make” process, GMF aims to produce technicians,
      kandidat terbaik. Melalui rekrutmen “make”, GMF bertujuan           engineers, planners, and inspectors.
      untuk mencetak teknisi, engineer, planner, dan inspector.

      Rekrutmen “buy” lebih difokuskan kepada kandidat profesional/       While the “buy” recruitment is more focused on professionals/
      ahli yang nantinya akan diperkenalkan langsung dengan bisnis,       expert candidates who will be introduced directly to GMF’s
      organisasi, sistem dan prosedur, serta budaya perusahaan dari       business, organization, systems and procedures, and corporate
      GMF. Rekrutmen “buy” digunakan saat Perseroan membutuhkan           culture. The Company uses the “buy” recruitment when we
      karyawan pada level tertentu seperti aircraft maintenance           need to hire employees with certain levels such as aircraft
      engineer, internal auditor, treasury management, quality            maintenance engineers, internal auditors, treasury management,
      inspector. Perusahaan juga melarang segala bentuk kerja paksa       quality inspectors. The Company also prohibits all forms of
      dan tidak mempekerjakan pekerja anak atau di bawah umur             forced labor and does not employ child labor or under the age
      21 tahun. [F.19]                                                    of 21. [F.19]

      ROOKIE DEVELOPMENT PROGRAM                                          ROOKIE DEVELOPMENT PROGRAM
      Program management trainee (MT) telah berjalan sejak 2016           The management trainee (MT) program has been running
      dan terus dijalankan hingga saat ini. Program MT diperuntukkan      since 2016 until this moment. This program is meant for new
      khusus bagi karyawan baru dengan masa kerja kurang dari             employees under a year serving at the Company. MT participants
      setahun. Peserta MT dibekali pengetahuan memadai akan               will be equipped with adequate knowledge to work on specific
      penugasan tertentu untuk memberikan pemahaman bisnis yang           assignments to understand the business better. MT participants
      lebih. Peserta MT akan masuk ke dalam list talent dan diangkat      will be included in the talent list and can be leaders when
      sebagai leader sesuai dengan jenjang jabatan yang berlaku.          available positions are open.

      HASIL REKRUTMEN 2023                                                2023 RECRUITMENT
      Pada tahun 2023, GMF telah merekrut 436 karyawan baru               In 2023, GMF recruited 436 new employees to fill in the
      untuk menjadi pegawai tetap dan pegawai tidak tetap. Proses         permanent and non-permanent positions. This recruitment
      rekrutmen ini meningkat 284% dibandingkan tahun 2022. Hal ini       process represents an increase of 284% compared to 2022.
      dikarenakan jumlah karyawan yang memasuki masa pensiun dan          The increase occurred due to a significant number of employees
      mengundurkan diri cukup banyak sehingga GMF perlu melakukan         retiring and resigning, requiring the recruitment to replace
      proses pemenuhan tenaga kerja pengganti dengan kualifikasi          those workers with qualifications that align with the direction
      yang sesuai dengan arah perkembangan usaha.                         of business development.


                                                      Perekrutan Berdasarkan Level Jabatan
                                                             Recruitment by Position
                                                                                                  Karyawan
                                                                                                Employee Status
                                     Keterangan
                                                                                   2023                                     2022
                                     Description
                                                                         Tetap            Tidak Tetap            Tetap             Tidak Tetap
                                                                       Permanent            Contract           Permanent             Contract

        Level Professional                                                          1               41                      2                   20

        Level Engineer                                                              4              94                       4                    5

        Level Technician                                                           23             273                      85                    51

        Jumlah/Total                                                               28             408                      91                   76




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TINGKAT PERPUTARAN PEGAWAI [401-1]                                  EMPLOYEE TURNOVER [401-1]

GMF menghitung tingkat perputaran pegawai (turnover) setiap         GMF calculates the employee turnover rate annually as one
tahunnya sebagai salah satu dasar untuk menerapkan manajemen        of the bases for implementing appropriate HC management
SDM yang tepat, berfokus pada optimalisasi produktivitas dan        practices, with a focus on optimizing productivity and ensuring
memastikan loyalitas pegawai. Hasil perhitungan turnover rate       employee loyalty. The results of the turnover rate calculation
juga menunjukkan tingkat kompetitif GMF sebagai perusahaan          also indicate GMF’s competitiveness as the primary destination
tujuan utama para pencari kerja di industri MRO secara nasional.    for job seekers in the MRO industry nationally. Despite not
Walaupun tidak memiliki persaingan yang ketat dengan pemain         facing stiff competition from other MRO players nationally, GMF
MRO lainnya secara nasional, namun GMF juga memastikan              ensures that employees feel satisfied working at the Company.
bahwa para pegawai merasa puas bekerja di Perseroan.

Pada tahun 2023, turnover pegawai tercatat sebesar 2,94%.           In 2023, the employee turnover rate was recorded at 2,94%.
Tingkat turnover ini lebih rendah dari tahun 2022 namun tetap       This rate is lower than in 2022 but remains one of the lowest
merupakan salah satu yang terendah bila dibandingkan pemain         compared to other MRO players or other companies in different
MRO lainnya, ataupun dengan perusahaan lain di bidang industri      industrial fields. A low turnover rate indirectly reduces GMF’s
berbeda. Tingkat turnover yang rendah secara tidak langsungi        costs and efforts in performing the onboarding (induction
mengurangi biaya dan upaya GMF untuk melakukan induksi              program) of new employees.
pegawai baru.


                                                      Penyebab Karyawan Keluar
                                                         Reasons for Leaving
                   Keterangan
                                                                2023                                        2022
                   Description

 Pensiun                                                                           101                                              165
 Retired

 Meninggal dunia                                                                    5                                                 5
 Passed Away

 Mengundurkan diri                                                                 141                                              198
 Resigned

 Diberhentikan                                                                      7                                                 8
 Dismissed

 Sakit                                                                               1                                                0
 Illness

 Jumlah karyawan keluar                                                           245                                              376
 Number of employees leaving



                                                Tingkat Perputaran Karyawan 2020-2023
                                                      Employee Turnover 2020-2023
                      Tahun                                    Jumlah                                    Persentase
                       Year                                     Total                                    Percentage

 2023                                                                             128                                            2,94%

 2022                                                                              197                                           4.36%

 2021                                                                              83                                             1,70%

 2020                                                                              45                                            0,80%




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      PENGEMBANGAN KOMPETENSI                                                      COMPETENCY DEVELOPMENT

                                                      Mekanisme Pengembangan Kompetensi Karyawan GMF
                                                      Mechanism of GMF Employee Competency Development




                                                                         Training Need
                                                                            Analysis




                                                       Knowledge
                                                                                                 Learning Service
                                                      Management




                               Knowledge Management                                                         Learning Services



        Program ini bertujuan untuk meningkatkan pengetahuan dan                  Dilakukan untuk pegawai GMF sesuai dengan peraturan yang berlaku
        keterampilan pegawai agar dapat memiliki daya saing tinggi. Poin          untuk industri perawatan pesawat. GMF senantiasa meningkatkan
        penting di sini adalah adanya media transfer pengetahuan yang dapat       kompetensi pegawai melalui Annual Training Program yang mencakup
        diakses seluruh pegawai untuk mengoptimalkan proses peningkatan           Technical Training dan Leadership & Management Training. Technical
        kemampuan. Terdapat knowledge management portal yang dapat                Training berlaku bagi seluruh pegawai GMF.
        digunakan pegawai untuk mengakses berbagai macam pengetahuan              This program is meant to update the knowledge of GFM employees with
        yang dapat menunjang proses kerja, terutama yang berkaitan dengan         the latest regulation in the aircraft maintenance industry. GMF always try
        aktivitas perawatan pesawat.                                              to enhance the competencies of its employes through Annual Training
        This program is designed to enhance the knowledge and skills of           Program that includes Technical Training and Leadership & Management
        employees to have high level of competitiveness. The important point      Training. Technical Training applies to all employees.
        here is to have a channel for knowledge transfer that is accessible for
        all employees to optimize the process of knowledge enhancement. The       Leadership & Management Training diberikan untuk posisi manajerial dan
        Company also owns a knowledge management portal for employees to          mengacu pada ketentuan GMF Leadership Academy melalui Leadership
        gain knowledge on various information to improve their working process,   & Managerial Development Program (LMDP) sebagai berikut:
        especially those related to aircraft maintenance.                         Leadership & Management Training is given to employees who are in
                                                                                  the managerial position with training material that refer to the GMF
        Aktivitas program adalah:                                                 Leadership Academy thugh Leadership & Managerial Development
        The activities of the programs are as follows:                            Program (LMDP) as follows:
        • Sharing Session;                                                        • Formal Master Education (S2)
        • Article Writing;                                                        • Emerging Leadership Program (ELP)
        • Discussion Forum;                                                       • Operational Leadership Program (OLP)
        • Inspirational Story;                                                    • Strategic Leadership Program (SLP)
        • Best Practice Documentation;                                            • Certified Business Management (CBM)
        • Konten edukasi Instagram | Instagram education content: Self            • MRO Finance
            Development, Aircraft Fact, Innovation Corner.                        • MRO Management




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                                            Pengembangan Kompetensi Berdasarkan Level Jabatan
                                                   Competency Development by Position
                                                                                                                                      Jumlah
    Level
                    Jenis Pelatihan                  Nama Pelatihan                          Tujuan Pelatihan                        Peserta
   Jabatan
                     Training Type                    Training Name                          Training Purpose                       Number of
   Position
                                                                                                                                    Participants

 Manager         Leadership Training        Leadership Skill                  Meningkatkan skill kepemimpinan & mengelola tim,                 32
                                                                              memastikan semua Indikator Kinerja Utama dapat
                                                                              didelegasikan dan diterapkan dengan benar untuk
                                                                              mencapai target usaha.
                                                                              Improve leadership and team management skills
                                                                              to ensure all Key Performance Indicators can be
                                                                              delegated and implemented appropriately to
                                                                              achieve business targets.

                 Management                 MRO Finance                       Meningkatkan pemahaman financial management                      64
                 Training                                                     MRO untuk mereka yang memiliki latar belakang
                                                                              non-financial.
                                                                              Increase understanding of MRO financial
                                                                              management for those with non-financial
                                                                              backgrounds.

                 Management                 MRO Management                    Memahami pengelolaan penyedia perawatan                          51
                 Training                                                     (MRO) berdasarkan regulasi terkini, tren bisnis
                                                                              MRO, dan praktik terbaik dalam manajemen MRO.
                                                                              Understand maintenance provider management
                                                                              (MRO) based on current regulations, MRO business
                                                                              trends, and best practices in MRO management.

 Staff           Formal Education           Bachelor Graduate                 Mengembangkan kemampuan dan ilmu karyawan                         6
                 to pursue Bachelor’s       Development                       di jenjang pendidikan formal.
                 and Master’s Degree                                          Develop employees' abilities and knowledge at the
                 Training                   Post Graduate Development         formal education level.                                           0

                                            Orientation Training              Berbagai program pelatihan dasar, sesuai jabatan,               106
                                                                              sebagai bagian dari pengembangan ilmu yang
                                            Basic Competency Training         harus dilalui oleh para staff.                                3,159

                                            Job Competency Training           Provide various basic training programs according             1,988
                                                                              to position as part of the knowledge development
                                            Continuation/Mandatory Training   that staff must undergo.                                      5,330

                                            Task Competency Training                                                                         830

                                            Supervisory Training                                                                               45

                                            External Training                                                                                  29

 Jumlah
                                                                                                                                           11,640
 Total




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          Pelaksanaan Program Knowledge                          Pelaksanaan Program Learning
                 Management 2023                                         Services 2023                    Pelaksanaan Leadership Training 2023
         Knowledge Management Program in                        Program Learning Services in 2023          Leadership Training Program in 2023
                       2023

                            408                                               666                                             95%
       Kali sharing session telah dilaksanakan                      Kelas Technical Training
                                                                                                                     pejabat struktural dan
               times of sharing session                             Technical Training classes

                             63                                                 6                                              5%
        Dokumentasi inspirational story telah
                                                                 Batch Leadership & Management            talent mendapatkan leadership training
                    disebarkan
                                                                             Training
            best practice documentation                                                                      95% structural officers and 5% talent
                                                                Leadership & Management Training
                   disseminated                                                                                followed the leadership training

                            105
           Dokumentasi best practice telah
                    disebarkan
         105 documents of best practices have
                 been disseminated

                            373
             Buah artikel telah disebarkan
                articles disseminated



                                                      Ringkasan Pelatihan Karyawan 2023 [E.2, F.22, 403-5]
                                                         Employee Training Summary 2023 [E.2, F.22, 403-5]
                                                Keterangan                                          Jumlah Event              Jumlah Peserta
                                                Description                                          Total Events             Total Participants

        Learning Service

        Orientation Training                                                                                         2                              106

        Basic Competency Training                                                                                   187                            2980

        Job Competency Training                                                                                     141                            1988

        Task Competency Training                                                                                    67                             830

        Continuation/Mandatory Training and Remedial Training                                                    269                               5330

        Supervisory                                                                                                 10                              179

        Training for Leaders

        Leadership Skill                                                                                             2                               62

        MRO Finance                                                                                                  2                               64

        MRO Management                                                                                               2                               51

        Mandatory Training

        Initial Human Factors in Aircraft Maintenance                                                                6                               89

        Safety Management System Awareness                                                                           3                               65

        Regulation 145                                                                                              10                              169

        Dangerous Goods Awareness                                                                                    4                              80

        Fuel Tank Safety                                                                                             3                               33

        Quality System                                                                                               9                              144




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BIAYA PENGEMBANGAN KOMPETENSI                                                COMPETENCY DEVELOPMENT COST
Realisasi biaya pengembangan kompetensi karyawan pada tahun                  The total costs of employee competency development in
2023 tercatat sebesar sebesar Rp5,836,429,500, meningkat                     2023 were recorded at Rp5,836,429,500, an increase of 94%
94% dibandingkan tahun 2022 sebesar Rp3,007,562,831.                         compared to 2022’s Rp3,007,562,831. This increase occurred
Peningkatan ini terjadi karena karena Perseroan berupaya                     because the Company sought to take advantage of new
untuk memanfaatkan peluang bisnis baru untuk menambah                        business opportunities to increase potential income, making it
potensi pendapatan bagi Perusahaan sehingga perlu untuk                      necessary to develop HR capabilities through relevant training
mengembangkan kapabilitas SDM melalui sejumlah pelatihan                     and assignments, thereby supporting the realization of GMF’s
dan penugasan yang relevan serta mendukung realisasi strategi                business strategy.
bisnis GMF.

PELATIHAN ORGAN TATA KELOLA PERSEROAN                                        TRAINING FOR CORPORATE GOVERNANCE
[E.2]                                                                        ORGAN [E.2]
Pengembangan kompetensi juga berlaku untuk setiap organ                      The Company also improves the competencies of its governance
tata kelola Perseroan melalui serangkaian program pelatihan                  bodies through a series of external training programs. Through
dari pihak eksternal. Pelatihan ini dilakukan untuk mendukung                this training, the Company hopes that all members can improve
kompetensi setiap anggota dalam menjalankan tugas dan                        their competencies to do what must be done to support Good
kewajibannya untuk mendukung Tata Kelola Perusahaan yang                     Corporate Governance implementation and ensure business
Baik serta memastikan keberlangsungan usaha dalam jangka                     continuity.
panjang.

Informasi mengenai pendidikan atau pelatihan bagi Dewan                      Information concerning the training and education programs
Komisaris, Direksi, Komite-komite, Sekretaris Perusahaan, dan                until the end of 2023 for the Board of Commissioners, the Board
Audit Internal sampai dengan akhir tahun 2023 dapat dilihat                  of Directors, Committees, Corporate Secretary, and Internal
dalam tabel berikut. Tidak semua organ Perseroan mengikuti                   Audit, are available in the following tables. Not all Company
pelatihan dan GMF tidak mengadakan pelatihan-pelatihan                       organs participated in the training and GMF did not organize any
khusus untuk organ-organ tersebut, namun masing-masing                       particular training programs for those organs, but each member
anggota tetap mengikuti perkembangan industri yang berlaku.                  still followed the current industrial development.


      Nama dan Jabatan                               Materi Pelatihan                           Penyelenggara              Tempat | Tanggal
      Name and Position                              Training Material                            Organizer                 Date | Location

 Dewan Komisaris
 Board of Commissioners

 Rahmat Hanafi                      Implementasi Tata Kelola Secara Konsisten Berstandar    PT Multi Utama Indojasa     Online Cisco Webex –
 Komisaris Utama                    Nasional dan Global                                     (“MUC”)                     Hangar 4, GMF/14 April
 President Commissioner             Consistent Implementation of Governance with National                               2023
                                    and Global Standards

 Maria Kristi
 Komisaris
 Commissioner

 Ali Gunawan
 Komisaris Independen
 Independent Commissioner

 Agit Atriantio
 Komisaris Independen
 Independent Commissioner

 Gatot Sulistiantoro Dewa
 Broto
 Komisaris Independen
 Independent Commissioner




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             Nama dan Jabatan                                 Materi Pelatihan                              Penyelenggara               Tempat | Tanggal
             Name and Position                                Training Material                               Organizer                  Date | Location

        Bapak Dharmadi selaku Komisaris Utama/Independen dan Bapak Abhan selaku Komisaris Independen tidak mengikuti program pelatihan
        pada tahun 2023.
        Mr. Dharmadi as President/Independent Commissioner and Mr. Abhan as Independent Commissioner did not follow any training program in 2023.

        Direksi
        Board of Directors

        Andi Fahrurrozi                    Implementasi Tata Kelola Secara Konsisten Berstandar        PT Multi Utama Indojasa        Online Cisco Webex –
        Direktur Utama President           Nasional dan Global                                         (“MUC”)                        Hangar 4, GMF/14 April
        Director                           Consistent Implementation of Governance with National                                      2023
                                           and Global Standards
        Mukhtaris
        Direktur Line Operation
        Director of Line Operation

        Ananta Widjaja
        Direktur Business & Base
        Operation
        Director of Business & Base
        Operation

        Salustra Satria
        Direktur Keuangan
        Director of Finance

        Pudjo Sarwoko                      Implementasi Tata Kelola Secara Konsisten Berstandar        PT Multi Utama Indojasa        Online Cisco Webex –
        Direktur Human Capital &           Nasional dan Global                                         (“MUC”)                        Hangar 4, GMF/14 April
        Corporate Affairs                  Consistent Implementation of Governance with National                                      2023
        Director of Human Capital &        and Global Standards
        Corporate Affairs
                                           Pembaruan Mengenai Kepatuhan                                PT Bursa Efek Indonesia        Zoom Meeting , 6
                                           Compliance Refreshment                                      (BEI)/ Indonesia Stock         December 23
                                                                                                       Exchange (IDX)

        Irvan Pribadi                      Sarana dan Prasarana Investasi Sektor Industri MRO          FGD ILMATE                     Bandung, 26
        Direktur Busines & Base            Pesawat Terbang                                                                            September 2023
        Operation                          Investment Facilities and Infrastructure for the Aircraft
        Director of Busines & Base         MRO Industry Sector
        Operation

        Sekretaris Dewan Komisaris
        Secretary to the Board of Commissioners

        Yogi Aditama                       Dasar-dasar Tata Kelola                                     Center for Risk Management     Bandung, 10-12 October
        Sekretaris Dewan Komisaris         Governance Fundamentals                                     & Sustainability               2023
        Secretary to the Board of
        Commissioners

        Komite Audit dan Kebijakan Corporate Governance (KAKCG)
        Audit and Corporate Governance Policy Committee

        Ali Gunawan                        Implementasi Tata Kelola Secara Konsisten Berstandar        PT Multi Utama Indojasa        Online Cisco Webex –
        Ketua                              Nasional dan Global                                         (“MUC”)                        Hangar 4, GMF/14 April
        Chairman                           Consistent Implementation of Governance with National                                      2023
                                           and Global Standards

        Komite Nominasi dan Remunerasi (KNR)
        Nomination and Remuneration Committee

        Rahmat Hanafi                      Implementasi Tata Kelola Secara Konsisten Berstandar        PT Multi Utama Indojasa        Online Cisco Webex –
        Ketua                              Nasional dan Global                                         (“MUC”)                        Hangar 4, GMF/14 April
        Chairman                           Consistent Implementation of Governance with National                                      2023
                                           and Global Standards

        Komite Pengembangan usaha dan Pemantau Risiko (KPUPR)
        Business Development and Risk Monitoring Committee

        Agit Atriantio                     Implementasi Tata Kelola Secara Konsisten Berstandar        PT Multi Utama Indojasa        Online Cisco Webex –
        Ketua                              Nasional dan Global                                         (“MUC”)                        Hangar 4, GMF/14 April
        Chairman                           Consistent Implementation of Governance with National                                      2023
                                           and Global Standards




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      Nama dan Jabatan                                 Materi Pelatihan                               Penyelenggara                Tempat | Tanggal
      Name and Position                                Training Material                                Organizer                   Date | Location

 Sekretaris Perusahaan
 Corporate Secretary

 Rian Fajar Isnaeni                 Pembaruan Mengenai Kepatuhan                                PT Bursa Efek Indonesia          Zoom Webinar – 06
 VP Corporate Secretary &           Compliance Refreshment                                      (BEI)/                           Desember 2023
 Legal

 Audit Internal
 Internal Audit

 Deddy Fezantino                    Integrasi Manajemen untuk Keberlangsungan Bisnis            Perhimpunan Auditor Internal     Online, 2023
 (VP Internal Audit)                Integrating Business Continuity Management                  Indonesia (PAII)

                                    IFRS Sustainability Disclosure Standards dan                Ikatan Akuntan Indonesia (IAI)   Online, 2023
                                    Perkembangan Akuntansi Keberlanjutan
                                    IFRS Sustainability Disclosure Standards and
                                    Developments in Sustainability Accounting

                                    Merangkul, Meningkatkan, dan Mengutamakan Nilai-            Experd                           Online, 2023
                                    Nilai: Blueprint untuk Pekerjaan yang Bermanfaat
                                    Embrace, Elevate, and Excel Values: A Blueprint for a
                                    Purposeful Work

                                    Jalan Menuju Ketahanan Finansial: Sinergi antara            Studi Profesionalisme            Online, 2023
                                    Lindung Nilai dan Akuntansi                                 Akuntan - Fakultas Ekonomi
                                    The Path to Financial Resilience: Unraveling the            & Bisnis Universitas Indonesia
                                    Synergies of Hedging and Accounting Approaches

                                    Transformasi Audit Internal: Agile dalam Meningkatkan       Studi Profesionalisme            Online, 2023
                                    Efisiensi dan Efektivitas Audit                             Akuntan - Fakultas Ekonomi
                                    Transfiguring Internal Audit: Embracing Agile Practices     & Bisnis Universitas Indonesia
                                    to Enhance Audit Efficiency and Effectiveness

                                    Meningkatkan Kinerja Operasional BUMN Pasca                 PwC                              Jakarta, 2023
                                    Transformasi
                                    Improving the Operational Performance of SOE After
                                    Transformation

                                    Informasi Mengenai Usulan Perubahan Standar                 The Institute of Internal        Jakarta, 2023
                                    Akuntansi                                                   Auditors (IIA)
                                    What You Need to Know about the Proposed Changes
                                    to the Standards

                                    Konsultasi Berbasis Assurance                               The Institute of Internal        Jakarta, 2023
                                    Assurance Based Consulting                                  Auditors (IIA)

                                    Makalah Kebijakan Integritas & Kepatuhan G20/B20:           The Institute of Internal        Online, 2023
                                    Rencana Aksi untuk Auditor Internal                         Auditors (IIA)
                                    G20/B20 Integrity & Compliance Policy Paper: Action
                                    Plan For Internal Auditor

                                    Penerapan GRC Terintegrasi untuk Tata Kelola dan            The Institute of Internal        Online, 2023
                                    Meningkatkan Pengelolaan Risiko yang Lebih Baik             Auditors
                                    Implementation of Integrated GRC for Better
                                    Governance and Improved Risk Management

 Adi Widhananto                     Kesiapan Audit Internal untuk Mengadopsi Kecerdasan         Yayasan Pendidikan Internal      Online, 2023
 (SM Corporate & Financial          Buatan                                                      Audit (YPIA)
 Audit)                             Internal Audit Readiness to Adopt Artificial Intelligence


                                    Audit Forensik untuk Memanfaatkan Fraud Detection           PT Motekar Edukasi               Online, 2023
                                    Corporate Fraud Detection Utilization Forensic Audit        Indonesia

                                    Risiko Keamanan Siber: Tren dan tantangan bagi Audit        Yayasan Pendidikan Internal      Online, 2023
                                    Internal                                                    Audit (YPIA)
                                    Emerging Cybersecurity Risk: Trends and challenges
                                    for Internal Audit

                                    Audit Investigatif untuk Mendeteksi Fraud                   Dilatih.co                       Online, 2023
                                    Investigative Audit to Detect Fraud

                                    Tren & Tantangan Audit Internal                             Yayasan Pendidikan Internal      Online, 2023
                                    Internal Audit Trends & Challenges                          Audit (YPIA)




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             Nama dan Jabatan                                Materi Pelatihan                              Penyelenggara             Tempat | Tanggal
             Name and Position                               Training Material                               Organizer                Date | Location

        Hadi Rooseno                       Implementasi Quality Assurance Review/ Kaji Ulang       FKSPI                           Online, 2023
        (SM Operation & IT Audit)          Pihak Eksternal SPI BUMN
                                           Implementation of Quality Assurance Review/External
                                           Review of SPI of SOEs

                                           Menulis Laporan Audit Internal yang Efektif Dalam <60   Udemy                           Online, 2023
                                           Hari
                                           Writing Highly Effective Internal Audit Report in <60
                                           Days

        Yuansari Eka Putri                 •   Seminar Nasional Internal Audit 2023, TRUSTED       Yayasan Pendidikan Internal     Bali, 2023
        (Lead Auditor)                         ADVISOR:                                            Audit (YPIA)
                                           •   Navigating the New Frontier, Connecting Between
                                               Information Technology and Business Strategy
                                           •   2023 National Internal Audit Seminar, TRUSTED
                                               ADVISOR:
                                           •   Navigating the New Frontier, Connecting Between
                                               Information Technology and Business Strategy

                                           Corporate Fraud Detection Utilizing Forensic Audit      Dilatih.co                      Online, 2023
                                           Deteksi Fraud pada Perusahaan Menggunakan Audit
                                           Forensik

        Ridho Azhario                      •   Seminar Nasional Internal Audit 2023, TRUSTED       Yayasan Pendidikan Internal     Bali, 2023
        (Senior Auditor)                       ADVISOR:                                            Audit (YPIA)
                                           •   Navigating the New Frontier, Connecting Between
                                               Information Technology and Business Strategy
                                           •   2023 National Internal Audit Seminar, TRUSTED
                                               ADVISOR:
                                           •   Navigating the New Frontier, Connecting Between
                                               Information Technology and Business Strategy

                                           IT Audit Profesional                                    Dilatih.co                      Online, 2023
                                           Professional IT Audit

        Linda Birmanasari                  Sertifikasi Profesi:                                    Yayasan Pendidikan Internal     Online, 2023
        (Senior Auditor)                   Qualified Internal Auditor (QIA) – Tingkat Managerial   Audit (YPIA)
                                           Profession Certification:
                                           Qualified Internal Auditor (QIA) –Managerial Level

                                           Sertifikasi Profesi:                                    Yayasan Pendidikan Internal     Online, 2023
                                           Qualified Internal Auditor (QIA) – Tingkat Lanjutan     Audit (YPIA)
                                           Profession Certification:
                                           Qualified Internal Auditor (QIA) –Advance Level

        Niken Wahyuningrum                 Sertifikasi Profesi:                                    Yayasan Pendidikan Internal     Online, 2023
        (Senior Auditor)                   Qualified Internal Auditor (QIA) – Tingkat Lanjutan     Audit (YPIA)
                                           Profession Certification:
                                           Qualified Internal Auditor (QIA) –Advance Level

        Carolina Rearini                   Sertifikasi Profesi:                                    Yayasan Pendidikan Internal     Online, 2023
        (Senior Auditor)                   Qualified Internal Auditor (QIA) – Tingkat Dasar        Audit (YPIA)
                                           Profession Certification:
                                           Qualified Internal Auditor (QIA) –Basic Level

                                           Teknik Efektif untuk Audit Internal                     Dilatih.co                      Online, 2023
                                           Effective Technique for Internal Audit

        Linanda Kurnia Widi                Kerangka Kompetensi Audit Internal                      RSM Indonensia                  Online, 2023
                                           Internal Audit Competency Framework

        Endy Prayudha Putra Sutriadi       Sertifikasi Profesi:                                    Yayasan Pendidikan Internal     Online, 2023
        (Auditor)                          Qualified Internal Auditor (QIA) – Tingkat Dasar        Audit (YPIA)
                                           Profession Certification:
                                           Qualified Internal Auditor (QIA) –Basic Level

        Achmad Baharudin Yusuf             Sertifikasi Profesi:                                    Yayasan Pendidikan Internal     Online, 2023
        (Auditor)                          Qualified Internal Auditor (QIA) – Tingkat Dasar        Audit (YPIA)
                                           Profession Certification:
                                           Qualified Internal Auditor (QIA) –Basic Level




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      Nama dan Jabatan                                Materi Pelatihan                           Penyelenggara                Tempat | Tanggal
      Name and Position                               Training Material                            Organizer                   Date | Location

 Quality Assurance & Safety
 Quality Assurance & Safety

 Sertifikasi                        Jabatan                                                Jumlah Personil Tersertifikasi   Persentase Terhadap
 Certification                      Position                                               Certified Personnel              Keseluruhan Tim
                                                                                                                            Percentage Against
                                                                                                                            Entire Team Member

 Aircraft Maintenance Engineer      •   Senior Aircraft Quality Inspector                  130                              49.06%
 Licence                            •   Aircraft Quality Inspector
 (AMEL)                             •   Senior Aircraft Maintenance Engineer
                                    •   Aircraft Maintenance Engineer
                                    •   Senior Aircraft Maintenance Technician

 Certificates of Maintenance        Senior Shop Quality Inspector                          11                               4.15%
 Approval (COMA)                    Shop Quality Inspector

 Certified Qualitiy Auditor         Certified Quality Auditor                              8                                3.02%
 (stamp)

 Associate Quality Auditor          •   Associate Quality Auditor                          22                               8.30%
 (stamp)                            •   Senior Quality System Engineer

 Qualification & Licensing          •   Senior Qualification & Licensing Assesor           8                                3.02%
 Assessor                           •   Qualification & Licensing Assessor

 Manajemen Risiko
 Risk Management

                                    Fundamental Manajemen Risiko                           CRMS                             Online, 2023
                                    Risk Management Fundamental
 Siti Maghdini
 (SM Risk Management)               Kapasitas Risiko Master Class XXII, Fundamental yang   Lembaga Sertifikasi Profesi      Online, 2023
                                    Hilang dalam Praktik Manajemen Risiko                  Manajemen Risiko
                                    Master Class XXII Risk Capacity, The Fundamental
                                    Missing Puzzle in Risk Management Practice

                                    Pemeliharaan Aviasi – Sistem Manajemen Keselamatan     PT Garuda Maintenance            Online, 2023
                                    Aviation Maintenance – Safety Management System        Facility Aero Asia Tbk

                                    Resolusi AI: Ancaman atau Peluang Bagi Dunia Kerja     NQA Indonesia Coomunity          Online, 2023
                                    AI Resolution: Threats or Opportunities for Business

                                    Sertifikasi Manajemen Risiko Profesional               PT. RAP (Risk Advisory and       Online, 2023
                                    Certified Risk Management Profesional                  Performance) Asia Consulting

 Dwi Wahyu Kartiko                  Fundamental Manajemen Risiko                           CRMS                             Online, 2023
 (Senior ERM & Internal Control     Fundamental of Risk Management
 Analyst)
                                    Kapasitas Risiko Master Class XXII, Fundamental yang   Lembaga Sertifikasi Profesi      Online, 2023
                                    Hilang dalam Praktik Manajemen Risiko                  Manajemen Risiko
                                    Master Class XXII Risk Capacity, The Fundamental
                                    Missing Puzzle In Risk Management Practice

 Brian Harfiansyah                  Fundamental Manajemen Risiko                           CRMS                             Online, 2023
 (Senior Financial Analyst)         Fundamental of Risk Management

                                    Kapasitas Risiko Master Class XXII, Fundamental yang   Lembaga Sertifikasi Profesi      Online, 2023
                                    Hilang dalam Praktik Manajemen Risiko                  Manajemen Risiko
                                    Master Class XXII Risk Capacity, The Fundamental
                                    Missing Puzzle In Risk Management Practice

 Ria Asyrofa                        Fundamental Manajemen Risiko                           CRMS                             Online, 2023
 (Senior ERM & Internal Control     Fundamental of Risk Management
 Analyst)
                                    Kapasitas Risiko Master Class XXII, Fundamental yang   Lembaga Sertifikasi Profesi      Online, 2023
                                    Hilang dalam Praktik Manajemen Risiko                  Manajemen Risiko
                                    Master Class XXII Risk Capacity, The Fundamental
                                    Missing Puzzle In Risk Management Practice

 Albert Ferdinand Christian         Pelatihan Senior ERM & Internal Control Analyst        Eksternal                        Online, 2023
 (Senior ERM & Internal Control     Training for Senior ERM & Internal Control Analyst     External
 Analyst)




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                                                                                                                                      Business Support Function




      PENILAIAN KINERJA PEGAWAI &                                                      EMPLOYEE ASSESSMENT & CAREER
      MANAJEMEN KARIER                                                                 MANAGEMENT

                                                    Mid Year, and End
                                                    Year Perfomance                                            Goal Setting
                                                               Review




                                              DEVELOPMENT:                Evaluating         Planning
                                              Promotion, Rotation,
                                              Merit, Incentive
                                              PMS

                                                                                    Managing




                                                                        Performance Monitoring Continuous
                                                                        Feedback, Coaching and Counselling


      GMF menerapkan sistem manajemen kinerja yang berdasarkan                         GMF implements a performance management system (planning,
      tiga proses yaitu perencanaan, pengelolaan kinerja, dan evaluasi                 performance management, and evaluation) to assess employee
      untuk menilai kinerja para pegawai (assessment).                                 performance.

      Individual Performance Plan (IPP) ditetapkan sebagai sasaran                     The Individual Performance Plan (IPP) becomes the performance
      kinerja yang merupakan turunan dari KPI atau Target Unit dan                     basis derived from the KPI or Target Unit of its Department.
      Dinasnya. Kinerja pegawai dipantau dan dinilai dengan Individual                 Individual Performance Tracking (IPT) will monitor and assess
      Performance Tracking (IPT). Hasilnya akan dilaporkan dalam                       employee performance. The results are available in the Individual
      Individual Performance Report (IPR). Ketiga proses tersebut                      Performance Report (IPR). These three processes are carried
      dilakukan dengan menggunakan sistem online, yaitu MyHC                           out using an online system, namely MyHC (Talent Management
      (Talent Management System).                                                      System).


                       IPP                                       IPT                                     IPR                                  CAP

        •   KPI dan Target                   •   ≥ 1 kali sebulan untuk semua level     •   Mid-year & End-year                   •   Penugasan khusus bagi
        •   OCP dan Target                       jabatan                                •   Total hasil dari pencapaian KPI,          pegawai terpilih
        •   Bobot KPI dan OCP                •   Komunikasi dua arah                        OCP, dan CA                           •   Bobot CAP
        •   KPIs and Targets                 •   Formal         dan     tercatat        •   Balancing                             •   Pengukuran kinerja dan
        •   OCP Targets                          (terdokumentasi)                       •   Komunikasi atasan dan bawahan             target
        •   KPI and OCP Weight               •   Once a month for all jobs level            untuk persetujuan                     •   Challenging Assignment
                                             •   Two-way communication                  •   Mid-year and End-year                     for talent
                                             •   Formal and recorded (documented)       •   Total results from KPI, OCP, and CA   •   CAP Weight
                                                                                            achievements                          •   Pe r f o r m a n c e
                                                                                        •   Balancing                                 Measurement
                                                                                        •   Communication of superiors and
                                                                                            subordinates for approval


      Atasan masing-masing pegawai menilai kinerja setiap                              The supervisor of each employee conducted a fair evaluation
      bawahannya secara adil. Penilaian kinerja dilakukan dua kali                     of his subordinate’s performance. There is a two-time
      dalam setahun dan diatur dalam Prosedur Bisnis Performance                       appraisal program every year, as stipulated in the Performance
      Management System (PMS). Hasil tersebut kemudian menjadi                         Management System (PMS) Business Procedure. The Company
      bahan pertimbangan bagi Perseroan dalam memberikan reward,                       uses the assessment to give rewards and punishments and
      punishment, serta program pengembangan kepada karyawan.                          development programs to employees.

      Terkait reward, GMF memberikan berbagai jenis reward sesuai                      Regarding rewards, GMF provides various types of rewards
      dengan hasil penilaian kinerja pegawai. Salah satu bentuk reward                 based on the employee assessment results. One form of
      adalah pemberian apresiasi kepada 73 pegawai yang dinilai                        reward is an appreciation for 73 employees who are deemed
      memiliki kinerja dan memberikan kontribusi di atas rata-rata                     to have performance and contribution above the average for
      kepada Perusahaan.                                                               the Company.




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MANAJEMEN KARIER                                                      CAREER MANAGEMENT

Manajemen karier berkaitan erat dengan sucession planning             Career management is closely related tosucession planning
GMF untuk mempertahankan tingkat kualitas SDM dari risiko             GMF to maintain the quality level of human resources from risk
turnover karyawan. Melalui manajemen karier, karyawan diberi          turnover employee. Through career management, employees
kesempatan untuk meningkatkan tingkat kesejahteraan dengan            are given the opportunity to increase their level of welfare by
mendapatkan posisi yang lebih tinggi.                                 getting a higher position.
                                                   Proses Manajemen Karier
                                                  Careet Management Process


      Penentuan Formasi Jabatan                             Asesmen                                        Penilaian Akhir
          Formation Position                               Assessment                                       Final Decision



     • Penentuan kualifikasi jabatan;           • Menilai kompetensi individu                       • Keputusan akhir promosi
     • Landasan penyusunan jalur                  dengan kualifikasi jabatan;                         karyawan;
       karier.                                  • Dilakukan oleh tim assessor;                      • Pelatihan dan pengembangan
     • Qualification of position;               • Melibatkan Komite SDM (expert,                      lebih lanjut, jika diperlukan.
     • Career path foundation.                    subject matter expert, human                      • Final decision on employee
                                                  capital personnel);                                 promotion;
                                                • Quality personnel for safety (jika                • Further training and
                                                  dibutuhkan).                                        development, if needed.
                                                • Assessing the individual
                                                  competencies with job
                                                  qualifications;
                                                • Conducted by an assessor team;
                                                • Involving the HR Committee
                                                  (expert, subject matter expert,
                                                  human capital personnel);
                                                • Quality personnel for safety (if
                                                  needed).




Perseroan telah melakukan Review Career Level pada sistem             The Company has conducted a Career Level Review within
Manajemen Karir dengan konsep Job Enrichment & Job                    the Career Management system, utilizing the concepts of Job
Enlargement.  Selain itu, Perseroan juga telah melaksanakan           Enrichment and Job Enlargement. Additionally, the Company
telaah dan perbaikan secara periodik terhadap dokumen                 has performed periodic reviews and improvements to the
Personal Competency Manual (PCM) dan revisi terhadap PB               Personal Competency Manual (PCM) and revisions to PB 06-005
06-005 Pengelolaan Karir Pegawai untuk memastikan terdapat            Employee Career Management to ensure the latest updates are
pembaruan terkini apabila terjadi perubahan dan memastikana           incorporated and compliance with the required competencies
danya kesesuaian terhadap kompetensi yang dibutuhkan.                 is maintained.

Perseroan juga telah menetapkan pegawai yang termasuk                 The Company has also determined that employees in frozen
ke dalam kelompok jabatan yang dibekukan (freeze) untuk               positions can be promoted to positions one level higher or
selanjutnya dapat dikembangkan ke jabatan dengan jenjang              appointed to these positions until normal retirement.
satu level lebih tinggi atau ditetapkan dalam jabatan tersebut
sampai pensiun normal.  

Di sisi lain, melalui Assessment Center, Perseroan juga telah         Furthermore, through the Assessment Center, the Company
menyelenggarakan proses asesmen terhadap level Vice                   has assessed 12 Vice Presidents, 48 Senior Managers, and
President sebanyak 12 orang, Senior Manager sebanyak 48               76 Managers.
orang, dan Manager sebanyak 76 orang.




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                                                                                                                           Business Support Function




                                                        Promosi dan Mutasi Pegawai tahun 2023
                                                         2023 Employees Promotion and Mutation

                                    Promosi                                  Mutasi
                                    Promotion                                Mutation
                                    • 4 orang level Vice President           • 4 persons at the level of Vice President
                                    • 27 orang level Senior Manager          • 27 persons at the level of Senior Manager
                                    • 57 orang level Manager                 • 57 persons at the level of Manager
                                    • 677 orang level Staff                  • 677 persons at the level of Staff



      Salah satu hasil promosi yang perlu untuk dibahas yaitu promosi        One of the noteworthy promotional outcomes is the promotion
      Sdr. Irvan Pribadi. Beliau diangkat menjabat Direktur Base             of Mr. Irvan Pribadi. He was appointed as Director of Base
      Operation pada 28 Juni 2023 setelah sebelumnya menempati               Operations on 28 Juni 2023, having previously served as VP
      posisi VP Wide Body Base Maintenance. Bergabung dengan                 of Wide Body Base Maintenance. Joining GMF in 1994, his
      GMF sejak 1994, kariernya terus meningkat sebagai GM dari              career has steadily progressed, holding various positions as
      berbagai departemen yaitu GM Aircraft Structure Maintenance            GM of various departments including GM of Aircraft Structure
      (2012-2016), GM Structure Shop (2016-2019), GM Structure               Maintenance (2012-2016), GM of Structure Shop (2016-2019),
      Workshop (2019). Sebelum diangkat sebagai Direktur, beliau             and GM of Structure Workshop (2019). Before assuming the role
      merupakan VP VP Wide Body Base Maintenance sejak 2019.                 of Director, he served as VP of Wide Body Base Maintenance
      Informasi ini menunjukkan bahwa GMF memiliki jenjang karier            since 2019. This shows that GMF has a clear career path for
      yang jelas.                                                            its employees.

      Informasi tersebut juga menunjukkan bagaimana GMF                      This information also highlights how GMF fosters employee
      dapat mempertahankan loyalitas pegawai, dan sebaliknya,                loyalty. Conversely, loyal employees who consistently
      pegawai yang loyal dan terus menunjukkan kinerja positif               demonstrate positive performance will enjoy various benefits
      akan merasakan dampak positif saat komitmen dan integritas             when their commitment and integrity align with the Company’s
      mereka berjalan beriringan dengan kinerja positif Perseroan.           success. This opportunity is available to every employee who
      Tentunya kesempatan ini terbuka bagi setiap pegawai yang               meets the standard criteria set by GMF.
      dapat memenuhi kriteria standar yang berlaku di GMF.

      RENCANA PENGEMBANGAN SDM TAHUN                                         2024 HC DEVELOPMENT PLAN
      2024

      Rencana pengembangan SDM selalu dilakukan dengan                       HC development plans are consistently implemented by
      mempertimbangkan berbagai faktor yaitu situasi internal usaha          considering various factors, including the internal business
      (rencana dan target bisnis), serta situasi eksternal (tren dan         situation (such as business plans and targets) and external
      tantangan bisnis). Melihat perkembangan situasi usaha yang             factors (such as business trends and challenges). With how the
      telah bergerak ke arah positif selepas situasi pandemi, GMF siap       situation has been going positive after the pandemic challenge,
      untuk lebih giat dalam melakukan pengembangan kapasitas                GMF is now prepared to take a more proactive approach to
      SDM terutama untuk tahun 2024.                                         enhance human resource capacity, particularly for 2024.

      Pertimbangan tersebut membuat Perseroan menetapkan                     Based on these considerations, the Company has outlined the
      Program dan Rencana Kerja SDM tahun 2024 sebagai berikut:              following 2024 HR Work Plan and Program:

      1. Pelaksanaan manajemen karir                                         1. Implement career management effectively
      2. Pengelolaan program pengembangan pegawai berdasarkan                2. Manage employee development programs based on career
         manajemen karir                                                        management principles
      3. Pemenuhan Manpower melalui berbagai program kerja                   3. Fulfill Manpower requirements through various work programs
      4. Melaksanakan monitoring dan review setiap akhir bulan               4. Monitor and review staff expense reports monthly to align
         atas laporan staff expense untuk menjaga agar tetap sejalan            with income achievements
         dengan pencapaian pendapatan
      5. Melakukan tinjauan terhadap salary structure pegawai agar           5. Review employee salary structure to align with the Company’s
         tetap sejalan dengan kondisi keuangan Perseroan, pasar                 financial condition, industrial market, and economic situation
         industri, dan situasi perekonomian
      6. Melakukan evaluasi dan implementasi terkait dengan                  6. Evaluate and implement Employee Total Rewards (Fixed
         Employee Total Reward (Fixed Salary, Incentives, Allowances,           Salary, Incentives, Allowances, Benefits) periodically to align
         Benefit) secara periodik agar tetap berjalan sesuai kondisi            with the Company’s financial condition
         finansial Perseroan



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7. Mengelola dan memantau Benefit Program Optimization                7. Manage and monitor Benefit Optimization Programs,
    yang terdiri dari program GMF EAZY Experience, program               including the GMF EAZY Experience program and Non-
    Non-Financial Benefit berupa Digital Special Greetings, Digital      Financial Benefit programs
    Special Moment Greeting Employee to Employee (Thank
    you, Congratulation, Baby Born, Graduation dan Wedding)  
8. Melaksanakan telaah kebijakan konsesi tiket bagi pegawai           8. Review ticket concession policies for employees
9. Mengelola dan menjaga Succession Planning Program                  9. Manage and maintain the Succession Planning Program
    melalui Replacement Table Chart (RTC)                                 through the Replacement Table Chart (RTC)
10. Menyiapkan pemenuhan peningkatan kebutuhan KSA                    10. Prepare to meet the increasing Knowledge, Skills, and
    (Knowledge, Skill, Attitude) para calon pemimpin                      Attitude (KSA) needs of prospective leaders
11. Penyerahan Penghargaan Masa Bakti, melakukan                      11. Administer Service Awards and automate employee life
    pengembangan otomasi riwayat hidup pegawai, serta                     histories and personnel/family data updates via the SAP
    pemutakhiran data kepegawaian dan/atau keluarga yang                  HCM system and Summary of Employee (SOE)
    nantinya data akan diperbaharui melalui sistem SAP HCM
    dan Summary of Employee (SOE)  
12. Mengoptimalkan layanan rutin kesehatan pegawai dan/               12. Optimize routine employee and/or family health services,
    atau keluarga secara rutin mencakup pelayanan asuransi                including insurance and BPJS Health services
    dan BPJS Kesehatan
13. Pengembangan Self services Management System                      13. Develop Self Services Management System
14. Pengaktifan kembali program Masa Persiapan Peniun (MPP)           14. Reactivate the Pension Preparation Period (MPP) program
    untuk pegawai yang akan memasuki masa pensiun di lima                 for employees nearing retirement in the next five years
    tahun yang akan datang
15. Internalisasi Perjanjian Kerja Bersama kepada struktural GMF      15. Internalize the Collective Work Agreement into the GMF
    dengan dilakukan sosialisasi secara periodik kepada masing-           structure by conducting outreach to each unit and holding
    masing unit serta melakukan pertemuan rutin Lembaga                   regular meetings of the Bipartite Cooperation Institute (LKS)
    Kerjasama (LKS) Bipartit
16. Pengembangan sistem berbasis digital aplikasi surat               16. Develop a digital-based system for cooperative loan
    rekomendasi pinjaman koperasi                                         recommendation letter applications
17. Peningkatan kerja sama hubungan industrial melalui LKS            17. Enhance industrial relations cooperation through Bipartite
    Bipartit dalam mendukung iklim kerja yang kondusif                    LKS to foster a conducive work climate
18. Melakukan follow up terhadap hasil Employee Engagement            18. Implement intervention programs based on the results of
    Survey melalui program intervensi baik secara level korporat          the Employee Engagement Survey at both corporate and
    maupun dinas                                                          service levels
19. Melaksanakan Program Internalisasi Budaya                         19. Implement a Cultural Internalization Program
20. Menjalankan Manpower Qualification Fulfillment Program            20. Execute the Manpower Qualification Fulfillment Program,
    untuk meningkatkan kualitas SDM melalui Instructor                    including the Instructor Regeneration Program, to enhance
    Regeneration Program untuk mencari instruktur baru yang               the quality of human resources
    dapat mengembangkan knowledge and skill untuk insan
    profesional GMF ke depannya
21. Melakukan business efficiency & contiuous improvement             21. Pursue business efficiency and continuous improvement
    dengan cara pengurangan annual fee cost untuk program                 initiatives, such as reducing annual fee costs for collaboration
    kerja sama Airbus dan GMF, otomatisasi proses examination             programs and implementing E-Examination Management
    melalui pengadaan E-Examination Management System,                    System and Moodle platform for training access
    dan menggunakan platform/aplikasi Moodle untuk akses
    continuation training (Module 1 dan Module 2) sehingga
    peserta dapat mengakses training di luar fasilitas Learning
    Services
22. Pengembangan kapasitas dan kapabilitas Basic EASA dengan          22. Develop Basic EASA capacity and capability with a target of
    target tahun 2024, training BOEING B787 pada Q2 2022,                 2024, including BOEING B787 training and Military (Fixed
    dan Military (Fix Wing & Rotary Wing)                                 Wing & Rotary Wing) training
23. Pengembangan sistem MyHC as Digital Employee Assistant            23. Develop the MyHC system as a Digital Employee Assistant
    dan juga Talent Management System (PMGM, Succession                   and Talent Management System (PMGM, Succession &
    & Development)                                                        Development)




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                                                                                                                           Business Support Function




      TEKNOLOGI INFORMASI
      Information Technology


      Layanan maintenance pesawat mengalami tingkat permintaan                 Aircraft maintenance services are experiencing renewed demand
      baru seiring dengan dibatalkannya pembatasan perjalanan dan              as travel restrictions ease and airlines prioritize ensuring the
      maskapai penerbangan memprioritaskan keselamatan dan                     safety and airworthiness of aircraft that have been grounded for
      kelaikan pesawat yang telah dilarang terbang dalam jangka                an extended period during the pandemic. The outlook appears
      waktu lama selama pandemi. Prospek saat ini dan ke depannya              positive as the world has learned valuable lessons from the
      tampak positif karena dunia telah mengambil pelajaran berharga           pandemic and implemented precautionary measures to address
      dari pandemi ini dan menerapkan langkah-langkah pencegahan               potential future outbreaks. In this encouraging environment,
      untuk mengatasi potensi pandemi lainnya di masa depan. Dalam             information technology plays a key role in managing the surge in
      lingkungan yang serba positif, teknologi informasi memainkan             demand for regular maintenance, repair, and overhaul services.
      peran penting dalam mengelola peningkatan permintaan akan
      layanan pemeliharaan berkala dan skala besar ataupun layanan
      perbaikan lainnya.


                                                             IT Master Plan GMF 2022-2026
                                                             2022-2026 IT Master Plan of GMF
                                                 2022                   2023                      2024                      2025-2026

                                            Digital Asset         Digital Operation
           Core IT Function                                                              Massive Digitalization       Digital Transportation
                                            Optimization           Enhancement

                                                                     IT Maturity
                                        SMI Implementation
                                                                    Enhancement
                                                                                                      Enterprise Architecture
           IT Governance                                             IT Security
           and Security                SMKI Implementation
                                                                    Enhancement

                                           IT Development
                                              Efficiency
                                                                                                                      Measured & Optimized
                                                                   Manage DevOps            Defined DevOps
           IT Development                                                                                                   DevOps
           and Operation                    Initial DevOps


                                             Optimizing IT                                                                 SAP Upgrade
                                                                       IT Infrastructure and EUC Upgrade
                                            Infrastructure                                                                Implementation

           IT Infrastructure and
           Service Management                                          Integration Platform Optimization




      Roadmap Pengelolaan IT GMF telah dirancang dan ditetapkan                The IT Management Roadmap of GMF has been regularly
      secara periodik dalam bentuk IT Master Plan, sebuah perumusan            designed and determined into the IT Master Plan, a formulation
      kebijakan dan standarisasi dalam rencana kerja beberapa                  of policy and standardization of several year work plans by the
      tahun oleh Fungsi Pengelola Teknologi Informasi. Rumusan ini             Information Technology Management Function. This formulation
      disusun sebagai fondasi strategi dan konsep arsitektur layanan           is prepared as a strategic foundation and architecture concept
      berdasarkan Rencana Jangka Panjang Perusahaan (RJPP) untuk               based on the Company’s Long Term Plan (RJPP) for the
      pengelolaan dan pengembangan layanan teknologi informasi. IT             management and development of information technology. GMF
      Master Plan GMF telah ditetapkan untuk periode jangka panjang            has established its IT Master Plan for a long-term period from
      2022 hingga 2026 dan GMF secara konsisten menjalankan                    2022 to 2026, and the Company is consistently implementing
      rencana untuk mencapai tujuan dengan hasil yang optimal.                 the plan to achieve its goals with optimal results.




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STRUKTUR PENGELOLA                                                 IT MANAGEMENT STRUCTURE

Struktur organisasi IT terdapat pada dua bidang yang bernaung      The IT organizational structure is set forth under two Department
di bawah Departemen Corporate Strategy & Business                  of the Corporate Strategy & Business Development Office. The
Development. Kedua bidang tersebut adalah Innovation & Digital     two are Innovation & Digital Transformation and ERP System
Transformation dan ERP System & IT Service Delivery.               & IT Service Delivery.



PROGRAM 2023                                                       2023 PROGRAM

IMPLEMENTASI SISTEM TEKNOLOGI INFORMASI                            IMPLEMENTATION OF INFORMATION
                                                                   TECHNOLOGY SYSTEM
Sesuai dengan IT Masterplan 2022-2026, implementasi                In accordance with the IT Masterplan 2022-2026, the
teknologi informasi difokuskan pada strategic goals yaitu          implementation of information technology is focused on the
Maintain Airworthy and Reliability, Escalate Customer Intemacy,    strategic goals of Maintain Airworthy and Reliability, Escalate
Digitalizing Operation, dan Employee Empowerment.                  Customer Intemacy, Digitalising Operations, and Employee
                                                                   Empowerment.
1. Maintain Airworthy & Reliability.                               1. Maintain Airworthy & Reliability.
   Merupakan sasaran strategis tekonologi informasi                    It’s a strategic goal of information technology in digitising
   dalam digitalisasi proses perawatan pesawat sehingga                the aircraft maintenance process so as to ensure the
   dapat memastikan tercapainya tujuan dan manfaat dari                achievement of the objectives and benefits of maintaining
   pemeliharaan kelaikan udara ( airworthiness ). Untuk                airworthiness. To achieve this goal, an application system
   mencapai tujuan ini dilakukan development sistem aplikasi           was developed to monitor the data quality and integrity of
   untuk memonitor data quality and integrity dari end to end          the end-to-end aircraft maintenance process. In addition, an
   process perawatan pesawat. Selain itu juga dikembangkan             Aircraft Health Index system was also developed to support
   sistem Aircraft Health Index untuk mendukung aktivitas              aircraft maintenance activities.
   perawatan pesawat.
2. Escalate Customers Intemacy.                                    2. Escalate Customers Intemacy.
   Merupakan sasaran strategis teknologi informasi pada               It’s a strategic goal of information technology on improving
   peningkatan kualitas interaksi perusahaan dengan                   the quality of company interactions with customers through
   customer melalui digitalisasi proses dan channel digital           digitalisation of processes and digital channels to meet
   untuk memenuhi kebutuhan customer dan meningkatkan                 customer needs and increase profitability. Throughout 2023
   profitabilitas. Sepanjang tahun 2023 telah dikembangkan            the GSMART Application has been developed.
   Aplikasi GSMART.
3. Employees Empowerment.                                          3. Employees Empowerment.
   Merupakan sasaran strategis teknologi informasi untuk              It’s a strategic goal of information technology to optimise
   optimasi manajemen sumber daya manusia melalui                     human resource management through digitisation of HR
   digitalisasi proses pengelolalaan dan layanan SDM sehingga         management processes and services to increase productivity
   meningkatkan produktivitas dan efisiensi bagi setiap individu      and efficiency for each individual employee. To achieve this
   karyawan. Untuk mencapai tujuan ini dilakukan improvement          goal, improvements were made to the MyHC website.
   website MyHC.
4. Digitalizing Operation                                          4. Digitalizing Operation
   Merupakan sasaran strategis teknologi informasi dalam              It’s a strategic goal of information technology in digitising
   digitalisasi pengelolaan sektor operasional perusahan baik         the management of the company’s operational sectors in
   pada area financial, produksi, maupun supporting agar dapat        financial, production, and supporting areas to run more
   berjalan dengan lebih efektif dan efisien. Pada tahun 2023         effectively and efficiently. In 2023, XPREAM enhancement,
   telah dikembangkan XPREAM enhancement, Integrated                  Integrated Material Planning Improvement, PLB, Material
   Material Planning Improvement, PLB, Material Movement,             Movement, and Tools Management Enhancement have
   dan Tools Management Enhancement.                                  been developed.




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                                                                                                                  Business Support Function




      IMPLEMENTASI INFRASTRUKTUR TEKNOLOGI                             IMPLEMENTATION OF INFORMATION
      INFORMASI                                                        TECHNOLOGY INFRASTRUCTURE
      Selain pembangunan sistem teknologi informasi, beberapa          In addition to the development of information technology
      pengembangan infrastruktur teknologi informasi juga difokuskan   systems, several information technology infrastructure
      untuk diimplementasikan pada beberapa aspek, yakni:              developments are also focused on being implemented in several
                                                                       aspects, such as:
      1. IT Governance & Security.                                     1. IT Governance & Security.
         Merupakan sasaran strategis tekonologi informasi dalam            It is a strategic goal of information technology in improving
         meningkatkan tata kelola IT (governance) dan keamanan             IT governance and information security as company assets
         (security) informasi sebagai aset perusahaan sehingga             so that they can fulfil strategic goals and comply with good
         dapat memenuhi sasaran strategis dan sesuai dengan tata           corporate governance. Throughout 2023, internal and
         kelola perusahaan yang baik (Good Corporate Governance).          external audits have been carried out on IT management
         Sepanjang tahun 2023 telah dilakukan audit internal maupun        at GMF as well as reviews and improvements to applicable
         eksternal atas pengelolaan IT di GMF serta dilakukan review       policies and procedures. Activities to improve the information
         maupun perbaikan atas kebijakan dan prosedur yang berlaku.        security management system (ISMS) that follows the ISO
         Aktivitas perbaikan sistem management kemanan infomasi            27001 rules are also carried out on an ongoing basis. All
         (SMKI) yang mengikuti kaidah ISO 27001 juga dilakukan             activities related to IT management and its performance
         secara berkelanjutan. Segala aktivitas terkait pengelolaan        are always reported regularly to the Board of Director (BOD).
         IT beserta performansinya selalu dilaporkan secara regular
         kepada Board of Director (BOD).
      2. IT Development & Operation.                                   2. IT Development & Operation.
         Merupakan sasaran strategis teknologi informasi pada             This is an information technology strategic goal to improve
         peningkatan kolaborasi area development program dengan           the collaboration of the development programme area with
         operation dari fase plan, delivery, hingga operasional           operations from the plan, delivery, to operational phases
         sehingga berjalan secara efektif dan efisien. Sebagai upaya      so that it runs effectively and efficiently. As part of the
         efisiensi, dilakukan pengoptimalan penggunaan internal           efficiency effort, the use of internal resources in development
         resource pada development & operation.                           & operations was optimised.
      3. IT Infrastructure.                                            3. IT Infrastructure.
         Merupakan sasaran strategis teknologi informasi untuk            It is a strategic goal of information technology to improve the
         peningkatan pelayanan dan efektifitas dari kesuluruhan           service and effectiveness of the entire IT process through a
         proses IT melalui strategi pemilihan, penggunaan, dan            strategy of selecting, using, and maintaining IT infrastructure.
         pemeliharaan infrastruktur IT. Pada tahun 2023, perusahaan       In 2023, the company has extended the cooperation of private
         telah melakukan perpanjangan kerjasama private cloud,            cloud, office applications, and internet service providers.
         aplikasi office, dan internet service provider.

      RENCANA PENGEMBANGAN 2024                                        2024 DEVELOPMENT PLAN

      Dengan mempertimbangkan IT Master Plan 2022-2026 dan             By considering the IT Master Plan 2022-2026 and considering
      memperhatikan pulihnya kembali bisnis aviasi setelah pandemi,    the recovery of the aviation business after the pandemic, in 2024
      maka pada tahun 2024 Perseroan akan fokus mensinergikan          the Company will focus on synergising business strategy and
      strategi bisnis dan strategi IT. Perseroan akan berfokus pada    IT strategy. To that end, the Company focuses on digitalisation
      program-program digitalisasi yang mendukung strategic goals,     programmes that support its strategic goals, namely Maintain
      yaitu Maintain Airworthy and Reliability, Escalate Customer      Airworthy and Reliability, Escalate Customer Intemacy,
      Intemacy, Digitalizing Operation, dan Employee Empowerment.      Digitalising Operation, and Employee Empowerment.




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                                                                         Corporate Governance




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                                                06




                                                 TATA KELOLA
                                                PERUSAHAAN
                                                  Corporate Governance
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                                                                                                                                Corporate Governance




      KOMITMEN KUAT PENERAPAN TATA KELOLA
      PERUSAHAAN YANG BAIK
      Strong Commitment on Implementing Good Corporate Governance
      Tata Kelola Perusahaan yang Baik atau Good Corporate                      Good Corporate Governance (GCG) comprises of principles that
      Governance (GCG) merupakan prinsip-prinsip yang mendasari                 govern company management based on statutory provisions
      suatu pengelolaan perusahaan berlandaskan ketentuan                       and business ethics. Recognizing the strategic benefits, GMF
      perundang-undangan dan etika usaha. GMF memahami arti                     prioritizes the implementation of GCG principles. Operational
      penting dan manfaat strategis dari penerapan prinsip-prinsip              management aligned with GCG principles ensures business
      GCG. Pengelolaan operasional yang sesuai prinsip-prinsip GCG              sustainability, fostering positive performance, enhancing trust,
      tercermin dari keberlangsungan usaha yang mampu meraih                    and delivering added value for shareholders and stakeholders.
      kinerja positif dan memperkuat kepercayaan serta memberikan
      nilai tambah bagi pemegang saham dan para pemangku
      kepentingan.

      GMF menerapkan GCG melebihi ketentuan regulator/peraturan                 GMF goes beyond the provisions of applicable regulations,
      perundang-undangan yang berlaku karena GMF menyadari                      acknowledging that the implementation and continual
      bahwa implementasi dan perbaikan berkelanjutan dari GCG                   enhancement of GCG are crucial for improving performance and
      menjadi kunci penting untuk meningkatkan kinerja dan menjaga              maintaining client’s trust. Over time, GMF consistently makes
      kepercayaan para klien. Dari waktu ke waktu, GMF melakukan                improvements, adjusts operational policies and procedures to
      perbaikan, menyesuaikan kebijakan dan prosedur operasional                comply with regulations, adopts industry best practices, develops
      untuk mematuhi peraturan yang berlaku dan mengadopsi praktik              systems, and enhances awareness among all GMF Personnel
      terbaik industri, mengembangkan sistem serta meningkatkan                 about the importance of GCG implementation.
      kesadaran seluruh Insan GMF akan pentingnya penerapan GCG.

      PEDOMAN TATA KELOLA PERUSAHAAN                                            GUIDELINES FOR CORPORATE GOVERNANCE

      Sebagai salah satu bentuk komitmen GMF terhadap penerapan                 As part of GMF’s commitment to implementing GCG, the
      GCG, telah dibentuk Pedoman Tata Kelola Perusahaan pada                   Corporate Governance Guidelines were established on June
      tanggal 23 Juni 2006 dengan revisi terakhir pada tanggal 29               23, 2006, with the latest revision on December 29, 2022. The
      Desember 2022. Revisi terakhir telah ditandangani oleh seluruh            latest revision was endorsed by all members of the Board of
      anggota Dewan Komisaris dan Direksi yang menjabat pada                    Commissioners and Directors who were serving at that time
      waktu itu dan pedoman ini masih digunakan hingga saat ini.                through their signature, and these guidelines remain in effect
                                                                                to date.




                            Pedoman Tata Kelola Perusahaan telah diunggah di website resmi GMF dan dapat
                                                         diakses oleh publik
                          The Corporate Governance Guidelines have been uploaded to the official website of GMF and accessible for the
                                                                          public


                                                                          CLICK HERE




      TUJUAN PENERAPAN GCG                                                      OBJECTIVES OF GCG IMPLEMENTATION

      Melalui penerapan GCG di lingkungan usahanya, GMF memiliki                GMF aims to achieve several objectives by applying GCG in its
      sejumlah tujuan yang ingin dicapai yaitu:                                 business environment, such as:
      1. Mengarahkan perilaku seluruh insan GMF dalam bertindak                 1. Encouraging all personnel to act according to the corporate
         sesuai dengan koridor nilai dan budaya Perusahaan                         values and culture to make the Company’s management
         yang telah ditetapkan guna menjamin efektivitas proses                    process goes more effective and make the decision-making
         pengelolaan Perseroan serta keadilan dan transparansi                     process goes fairly and transparently;
         proses pengambilan keputusan;



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2. Menunjang terciptanya keseimbangan hubungan antara                        2. Creating a balanced relationship between GMF
   GMF dengan pemangku kepentingan, yang meliputi                               and stakeholders, including Shareholders, Board of
   Pemegang Saham, Dewan Komisaris, Direksi, karyawan,                          Commissioners, Board of Directors, employees, customers,
   pelanggan, pemasok, dan pihak eksternal sehingga tercipta                    suppliers, and external parties to clarify their functions and
   kejelasan fungsi dan peran masing-masing dan menjamin                        roles and ensure accountable business;
   keberlangsungan usaha yang akuntabel;
3. Membangun terwujudnya citra positif GMF serta                             3. Building a positive image of GMF and increasing public image
   meningkatkan kepercayaan publik sebagai entitas bisnis yang                  on GMF as an ethical and responsible business entity (good
   beretika dan bertanggung jawab (good corporate citizenship);                 corporate citizenship);
4. Mendorong peningkatan nilai dan daya saing GMF di tingkat                 4. Increasing the level of values and competitiveness of GMF
   nasional maupun internasional;                                               at the national and international levels;
5. Membangun dan mengokohkan landasan kelangsungan                           5. Building and strengthening the foundation of GMF to
   usaha GMF dalam jangka panjang.                                              generate a long-term business continuity.

PRINSIP DAN DASAR HUKUM PENERAPAN                                            BASIC PRINCIPLES AND LEGAL BASIS OF
GCG                                                                          GCG IMPLEMENTATION

PRINSIP DASAR DAN PERKEMBANGANNYA                                            BASIC PRINCIPLES
Perseroan mengacu pada lima prinsip dasar penerapan GCG                      The Company refers to five basic principles of GCG
yaitu: transparansi, akuntabilitas, responsibilitas, independensi,           implementation, namely: transparency, accountability,
dan kesetaraan serta kewajaran (TARIF), sebagaimana telah                    responsibility, independence, as well as equity and fairness
dirilis dalam Pedoman Umum Good Corporate Governance yang                    (TARIF), which outlined in the General Guidelines for Good
dikeluarkan oleh Komite Nasional Kebijakan Governance (KNKG)                 Corporate Governance issued by the National Governance Policy
serta Roadmap GCG oleh OJK.                                                  Committee (KNKG) and the GCG Roadmap by OJK.



                                                        Prinsip Penerapan GCG – TARIF
                                                    Principles of GCG Implementation – TARIF

                                                                                                                          Kesetaraan dan
            Transparansi                 Akuntabilitas         Pertanggungjawaban              Kemandirian                   Kewajaran
            Transparency                 Accountability            Responsibility             Independency               Equity and Fairness

        • GMF menyediakan            • GMF memiliki           • GMF menerapkan            • GMF mengambil              • GMF menjamin
          informasi yang               struktur organ           kehati-hatian dan           keputusan bisnis             perlakuan yang adil
          relevan, akurat,             GCG yang memiliki        patuh terhadap              tanpa intervensi             dan setara dalam
          dan tepat waktu              kejelasan fungsi         perundang-                  dari pihak manapun           memenuhi hak
          kepada pemegang              dan berperan dalam       undangan sebagai            untuk menghindari            pemegang saham dan
          saham dan                    menjamin efektivitas     bentuk tanggung             benturan kepentingan         seluruh pemangku
          seluruh pemangku             kinerja Perseroan.       jawab terhadap              dengan lingkup organ         kepentingan sesuai
          kepentingan.               • GMF has a clear          keberlangsungan             Perseroan.                   dengan peraturan
        • GMF provides the             function of GCG          usaha.                    • GMF takes decision           perundang-undangan
          information that is          bodies that play       • GMF acts prudently          without the                  dan Kode Etik
          relevant, accurate,          a role in assuring       and complies with           intervention of any          Perseroan.
          and punctual to              the effectiveness        the regulations as a        party to avoid conflict    • GMF guarantees fair
          shareholders and all         of the Company’s         form of responsibility      of interest among the        and equal treatment
          stakeholders.                performance.             on business                 Company’s bodies.            to fulfill the authorities
                                                                sustainability.                                          of shareholders and all
                                                                                                                         stakeholders according
                                                                                                                         to the legislations and
                                                                                                                         Code of Conduct.



Dalam perkembangannya, GMF berupaya meningkatkan penerapan                   In its evolution, GMF strives to enhance the implementation of Good
GCG dengan mengadopsi ketentuan terbaru. Komite Nasional                     Corporate Governance (GCG) by embracing the latest provisions.
Kebijakan Tata Kelola Perusahaan (KNKG) pada tahun 2021 telah                In 2021, the National Committee for Corporate Governance Policy



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                                                                                                                                           Corporate Governance




      merilis istilah baru dari tata kelola menjadi governansi korporat                (KNKG) introduced a new term of corporate governance aiming
      untuk memperluas penerapannya sehingga mencakup pemangku                         to broaden its application to cover a wider array of stakeholders.
      kepentingan yang lebih luas. Informasi ini telah dimuat dalam buku               This update was incorporated into the 2021 General Guidelines
      Pedoman Umum Governansi Korporat Indonesia (PUGKI) 2021.                         for Indonesian Corporate Governance (PUGKI).

      Prinsip-prinsip dalam PUGKI, beserta rekomendasi dan panduan                     The principles in PUGKI, along with the recommendations
      di dalamnya dijiwai oleh empat pilar governansi korporat yaitu:                  and guidelines are inspired by the four pillars of corporate
      perilaku beretika, akuntabilitas, transparansi, dan keberlanjutan.               governance, namely ethical conduct, accountability, transparency
      Tercerminnya empat pilar dalam prinsip-prinsip governansi                        and sustainability. These four pillars are reflected in Indonesia’s
      korporat Indonesia akan mendorong terciptanya nilai korporasi                    corporate governance principles will serve for the creation
      dalam jangka panjang. Keempat pilar governansi korporat                          of long-term corporate value. The four pillars of corporate
      merupakan pengembangan dari nilai dasar sebelumnya, yaitu                        governance are a continuation of the previous princples of
      TARIF, yang terakhir digunakan pada PUGKI 2019.                                  TARIF which lastly used in the 2019 edition of PUGKI.


                                                                Prinsip Penerapan GCG – PUGKI
                                                            Principles of GCG Implementation – PUGKI
                            •   GMF senantiasa mengedepankan kejujuran, memperlakukan semua pihak dengan hormat (respect), memenuhi komitmen,
                                membangun serta menjaga nilai-nilai moral dan kepercayaan secara konsisten.
                            •   GMF memperhatikan kepentingan pemegang saham dan pemangku kepentingan lainnya berdasarkan asas kewajaran dan
           Perilaku
                                kesetaraan (fairness) dan dikelola secara independen sehingga masing-masing organ Perseroan tidak saling mendominasi
           Beretika
                                dan tidak dapat diintervensi oleh pihak lain.
            Ethical
                            •   In its operations, GMF consistently prioritizes honesty, treats all parties with respect, fulfills commitments, and upholds moral
           Conduct
                                values and trust consistently.
                            •   GMF also emphasizes shareholder and stakeholder interests, adhering to principles of fairness and equality, independently
                                managed to ensure that no corporate organ dominates over others and remains free from external intervention.

                            •   GMF dapat mempertanggungjawabkan kinerjanya secara transparan dan wajar dengan mengelola Perseroan secara benar, terukur dan
                                sesuai dengan kepentingan korporat dengan tetap memperhitungkan kepentingan pemegang saham dan pemangku kepentingan.
        Akuntabilitas       •   GMF menjadikan prinsip akuntabilitas sebagai prasyarat yang diperlukan untuk mencapai kinerja yang berkelanjutan.
        Accountability      •   GMF is being transparent and fair in being accountable for its performance, thus committed in managing the Company correctly,
                                measurably, and in alignment with corporate interests, while also considering the interests of shareholders and stakeholders.
                            •   GMF treats accountability as a necessary requirement for achieving sustainable performance.

                            •   GMF menjaga objektivitas dalam menjalankan bisnis dengan menyediakan informasi yang material, relevan, serta mudah
                                diakses dan dipahami oleh pemangku kepentingan.
                            •   GMF mengambil inisiatif untuk mengungkapkan tidak hanya masalah yang disyaratkan oleh peraturan perundang-undangan,
        Transparansi            tetapi juga hal yang penting untuk pengambilan keputusan oleh pemegang saham, kreditur dan pemangku kepentingan lainnya.
        Transaparency       •   GMF maintain objectivity in business operations, ensuring the provision of material and relevant information in a manner
                                that is easily accessible and comprehensible to stakeholders.
                            •   GMF takes the initiative to disclose not only the issues required by statutory regulations but also matters crucial for decision-
                                making by shareholders, creditors, and other stakeholders.

                            •   GMF mematuhi peraturan perundang-undangan serta berkomitmen melaksanakan tanggung jawab terhadap masyarakat dan
                                lingkungan agar berkontribusi pada pembangunan berkelanjutan melalui kerja sama dengan semua pemangku kepentingan
                                terkait untuk meningkatkan kehidupan mereka dengan cara yang selaras dengan kepentingan bisnis dan agenda pembangunan
        Keberlanjutan
                                berkelanjutan.
         Sustainability
                            •   GMF complies with statutory regulations and is committed to fulfilling its responsibilities towards society and the environment to
                                contribute to sustainable development by collaborating with all relevant stakeholders to enhance their well-being in a manner
                                aligned with both business interests and the sustainable development agenda.


      DASAR HUKUM PENERAPAN GCG                                                        LEGAL BASIS OF GCG IMPLEMENTATION
      Wujud penerapan GCG senantiasa didasari oleh dasar hukum                         The implementation of GCG is always based on a strong and
      yang berlaku, antara lain sebagai berikut:                                       structured legal basis, among others as follows:
      1. Undang-Undang No. 40 Tahun 2007 tentang Perseroan                             1. Law No. 40 of 2007 concerning Limited Liability Companies;
         Terbatas;
      2. Undang-Undang No. 8 Tahun 1995 tentang Pasar Modal;                           2. Law No. 8 of 1995 concerning Capital Markets;
      3. Peraturan Menteri Negara Badan Usaha Milik (BUMN) Negara                      3. Regulation of the Minister of State Owned Enterprises (SOE)
         No. PER-01/MBU/2011 tentang Penerapan Tata Kelola                                No. PER-01/MBU/2011 concerning the Implementation of
         Perusahaan yang Baik (Good Corporate Governance) pada                            Good Corporate Governance in SOEs and PER-09/MBU/2012
         BUMN dan PER09/MBU/2012 tentang Perubahan atas                                   concerning Amendments to SOE Ministerial Regulation No.
         Peraturan Menteri Negara BUMN No. PER-01/MBU/2011;                               PER-01/MBU/2011;
      4. Peraturan Menteri Negara BUMN No. PER-12/MBU/2012                             4. SOE Ministry Regulation No. PER-12/MBU/2012 concerning
         tentang Organ Pendukung Dewan Komisaris/Dewan                                    Supporting Organs for the Board of Commissioners/SOE
         Pengawas BUMN;                                                                   Supervisory Board;



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5. Peraturan Menteri Negara BUMN No. PER-03/MBU/2012                           5. SOE Minister Regulation No. PER-03/MBU/2012 concerning
    tentang Pedoman Pengangkatan Anggota Direksi dan                               Guidelines for Appointment of Members of the Directors and
    Anggota Dewan Komisaris Anak Perusahaan BUMN;                                  Commissioners of SOE Subsidiaries;
6. Peraturan Otoritas Jasa Keuangan No. 21/POJK.04/2015                        6. Financial Services Authority Regulation No. 21/POJK.04/2015
    tentang Penerapan Pedoman Tata Kelola Perusahaan                               concerning Application of Guidelines for Public Corporate
    Terbuka;                                                                       Governance;
7. Surat Edaran Otoritas Jasa Keuangan No.32/SEOJK.04/2015                     7. Financial Services Authority Circular No. 32/SEOJK.04/2015
    tentang Pedoman Tata Kelola Perusahaan Terbuka;                                concerning Guidelines for Open Corporate Governance;
8. Pedoman Tata Kelola Perusahaan yang Baik oleh Komite                        8. Good Corporate Governance Guidelines by the National
    Nasional Kebijakan Governance (KNKG) Tahun 2006;                               Committee on Governance (KNKG) 2006;
9. Anggaran Dasar Perseroan sesuai Akta Pendirian No. 93                       9. The Articles of Association according to the Establishment Deed
    tanggal 26 April 2002, yang terakhir kali diubah dengan Akta                   No. 93 dated April 26, 2002, which amended lastly according to
    Pernyataan Keputusan Rapat No. 5 tanggal 20 Agustus 2021.                      the Deed of Meeting Resolution No. 5 dated August 20, 2021.
10. Pedoman Umum Governansi Korporat Indonesia (PUGKI), yang                   10. General Guidelines for Indonesian Corporate Governance
    diterbitkan oleh Komite Nasional Kebijakan Governance, dan                     (PUGKI), published by the National Committee for Governance
    terakhir dimutakhirkan pada tahun 2021, sebagai pemutakhiran                   Policy, last updated in 2021, as an update to the General
    dari Pedoman Umum Good Corporate Governance Indonesia,                         Guidelines for Indonesian Good Corporate Governance, issued
    dikeluarkan oleh Komite Nasional Kebijakan Governance, Tahun                   by the National Committee for Governance Policy, 2006
    2006 (Pedoman GCG KNKG 2006).                                                  (KNKG GCG Guidelines 2006).

MANFAAT PENERAPAN GCG                                                          BENEFITS OF IMPLEMENTING GCG

                                                  Penghargaan atas Penerapan GCG Tahun 2023
                                                    Awards for the GCG Implementation in 2023
              Penghargaan                                 Acara                                         Penyelenggara
                 Awards                                   Event                                           Organizer

      Indonesia Green Sustainable               Indonesia Green Sustainable                              SWA Magazine
              Companies                            Company Award 2023



                  Penerapan GCG Mendukung Kinerja Positif dan Operasional Usaha Bebas dari Permasalahan
            GCG Implementation Supports Positive Business Achievement and Ensures Clean Operations Free from Any Issues

          Jumlah Pendapatan Usaha                            Laba Bersih Tahun Berjalan                             Total Ekuitas
           Total Operating Revenues                               Profit for the Year                                Total Equity


                      USD                                                USD                                            USD
                  373,21                                              20,12                                         311,16
                   juta | million                                     juta | million                                 juta | million



              Jumlah Pengaduan
             Whistleblowing dan
                                                                  Jumlah Kasus Perkara
                 Terselesaikan                                                                               Jumlah Laporan Gratifikasi
                                                                        Hukum
              Number of Incoming                                                                            Number of Gratification Report
                                                                  Number of Legal Cases
            Whistleblowing Repot and
                     Settled


                Tidak Ada | None                                    Tidak Ada | None                              Tidak Ada | None




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      FOKUS PERKEMBANGAN GCG TAHUN 2023                                BENEFITS OF IMPLEMENTING GCG

      Sepanjang tahun 2023, Perseroan telah melakukan berbagai         Throughout 2023, the Company carried out various activities
      kegiatan untuk menginternalisasi dan mengembangkan praktik       to internalize and develop GCG practices. This effort includes
      GCG. Upaya ini mencakup pengembangan yang dilakukan secara       regularly developing and updating internal capacities to adapt
      berkala dan untuk memperbarui kapasitas internal untuk           to the latest regulatory developments.
      menyesuaikan dengan perkembangan regulasi terkini.

      Perseroan melaksanakan berbagai aktivitas rutin secara           The Company also conducted various routine activities annually,
      tahunan mencakup assessment GCG, melakukan sosialisasi           including GCG assessments, socializing GCG implementation
      implementasi GCG bagi pegawai baru, sosialisasi larangan         for new employees, socializing the prohibition on accepting
      penerimaan gratifikasi, dan menggalakkan praktik WBS melalui     gratuities, and promoting WBS practices through the WBS
      WBS Campaign.                                                    Campaign.

      Pada tahun 2023, Perseroan juga melakukan analisa terhadap       In 2023, the Company also analyzed new regulations that affect
      peraturan baru yang mempengaruhi pedoman serta kebijakan         the Company’s internal guidelines and policies.
      internal Perseroan.

      SOSIALISASI DAN PENGUATAN                                        SOCIALIZATION AND ENHANCEMENT OF
      IMPLEMENTASI GCG                                                 GCG IMPLEMENTATION

      Perseroan senantiasa melakukan sosialisasi dan peningkatan       The Company continues to disseminate and raise awareness
      kesadaran prinsip-prinsip GCG secara berkelanjutan kepada        concerning the principles of GCG to its internal and external
      seluruh Pemangku Kepentingan internal dan eksternal. Aktivitas   stakeholders. The activities, among others, are by introducing
      yang dilakukan salah satunya melalui pengenalan prinsip GCG      GCG principles in the Orientation Training for new employees,
      pada Orientation Training untuk pegawai baru, penyebaran         disseminating GCG information through posters and pamphlets,
      informasi GCG melalui poster dan pamflet yang dipasang di        and sending e-mails to all employees. The Company also includes
      lingkungan Perseroan serta pengiriman e-mail kepada seluruh      articles and/or news regarding GCG principles on the Company’s
      karyawan Perseroan. Perseroan juga mencantumkan artikel dan/     magazines and websites.
      atau berita mengenai penerapan prinsip GCG pada media resmi
      Perseroan, seperti majalah dan website Perseroan.




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                                                            STRUKTUR TATA KELOLA PERSEROAN
                                                                                           The Company’s Governance Structure


Penerapan prinsip-prinsip GCG di GMF terdiri dari dua aspek                        The application of GCG principles at GMF consists of two main
utama, yaitu Struktur Tata Kelola atau Governance Structure,                       aspects: the Governance Structure and the Governance Process.
serta Proses Tata Kelola atau Governance Process. Kedua aspek                      These two aspects influence each other to provide governance
ini saling mempengaruhi satu sama lain untuk memberikan Hasil                      outcomes according to the Company’s expectations and all
Tata Kelola atau Governance Outcome sesuai dengan harapan                          stakeholders.
Perseroan dan seluruh pemangku kepentingan.

GMF memiliki tiga organ utama yaitu Rapat Umum Pemegang                            GMF has three main organs: the General Meeting of Shareholders
Saham (RUPS) yang mengakomodasi kepentingan pemegang                               (GMS), which accommodates the interests of shareholders;
saham, Direksi yang mengelola Perseroan, dan Dewan Komisaris                       the Board of Directors, which manages the Company; and the
yang melakukan pengawasan terhadap pengelolaan Perseroan.                          Board of Commissioners, which supervises the Company’s
Dewan Komisaris dan Direksi memiliki tanggung jawab untuk                          management activities. The Board of Commissioners and the
memelihara kesinambungan usaha dalam jangka panjang                                Board of Directors are responsible for maintaining long-term
sehingga penting bagi kedua organ tersebut untuk memiliki                          business continuity; therefore, the two bodies need to have the
kesamaan persepsi terhadap visi, misi, dan nilai-nilai GMF.                        same perception of GMF’s vision, mission, and values.

Perseroan telah menunjuk Direktur Utama sebagai penanggung                         The Company has appointed the President Director as the person
jawab dalam penerapan GCG yang dalam pelaksanaannya                                in charge of GCG implementation, which in its implementation is
dijalankan oleh Divisi Corporate Secretary & Legal yang                            carried out by the Corporate Secretary & Legal Division, which is
secara struktur organisasi berada di bawah Direktur Utama                          structurally under the President Director as stipulated in the CEO
sebagaimana ditetapkan dalam Surat Keputusan Direktur Utama                        Decree No.DT/SKEP-5009/23 concerning Parent Organisation
No.DT/SKEP-5009/23 tentang Organisasi Induk PT Garuda                              of PT Garuda Maintenance Facility Aero Asia Tbk.
Maintenance Facility Aero Asia Tbk.


                                                                  Struktur Tata Kelola Perusahaan
                                                                  Corporate Governance Structure


                                                                                  RUPS | GMS




                                                  Dewan Komisaris                                               Direksi
                                               Board of Commissioners                                      Board of Directors




            Sekretaris Dewan Komisaris
             Secretary of the Board of                                             Sekretaris Perusahaan                          Unit Internal Audit
                  Commissioners                                                     Corporate Secretary                           Internal Audit Unit




                                            Komite Audit dan Kebijakan               Unit Financial &                           Unit Lain Organ Perseroan
                                               Corporate Governance               Management Accounting                               Other Units of
                                          Audit Governance and Corporate                                                          The CompanyOrgans
                                                 Governance Policy



                                         Komite Pengembangan Usaha dan
                                                Pemantauan Risiko
                                          Business Development and Risk
                                              Monitoring Committee


                                         Komite Nominasi dan Remunerasi
                                          Nomination and Remuneration
                                                   Committee




PT Garuda Maintenance Facility Aero Asia Tbk                                                                         Laporan Terintegrasi 2023 Integrated Report
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192                                                                                                                   Tata Kelola Perusahaan
                                                                                                                       Corporate Governance




      Perseroan memiliki berbagai kebijakan atau soft structure GCG      The Company has various GCG policies or soft structures as
      sebagai berikut. Kebijakan-kebijakan ini telah diterbitkan dalam   follows. These policies are available on the Company’s website
      situs website Perseroan yaitu www.gmf-aeroasia.co.id.              at www.gmf-aeroasia.co.id.
      1. Anggaran Dasar Perusahaan;                                      1. Articles of Association;
      2. Pedoman Tata Kelola Perusahaan (GCG Code);                      2. Corporate Governance Guidelines (GCG Code);
      3. Pedoman Perilaku (Code of Conduct);                             3. Code of Conduct;
      4. Pedoman Direksi dan Dewan Komisaris;                            4. Guidelines for the Board of Directors and the Board of
                                                                             Commissioners;
      5. Piagam Komite (Committee Charter);                              5. Committee Charter;
      6. Piagam Audit Internal (Internal Audit Charter);                 6. Internal Audit Charter;
      7. Kebijakan Internal Audit;                                       7. Internal Audit Policy;
      8. Kebijakan Manajemen Risiko;                                     8. Risk Management Policy;
      9. Kebijakan Pengendalian Internal;                                9. Internal Control Policy;
      10. Pengendalian Gratifikasi;                                      10. Gratification Control;
      11. Kebijakan Whistleblowing System;                               11. Whistleblowing System Policy;
      12. Kebijakan Pengadaan Barang dan Jasa.                           12. Procurement Policy.

      STRUKTUR TATA KELOLA KEBERLANJUTAN                                 SUSTAINABILITY GOVERNANCE STRUCTURE
      [E.1, 2-9]                                                         [E.1, 2-9]

      Direksi bertanggung jawab terhadap pengelolaan dan                 managing and monitoring material economic, environmental, and
      pemantauan isu-isu terkait ekonomi, lingkungan hidup, dan          social issues. Until the end of the reporting period, the Company
      sosial yang material. Sampai dengan akhir periode pelaporan,       did not appoint special officials or form special committees
      Perseroan tidak menunjuk pejabat khusus ataupun membentuk          responsible for sustainability. Sustainability management was
      komite khusus yang bertanggung jawab terhadap keberlanjutan.       carried out jointly with all Directors and supporting work units,
      Pengelolaan keberlanjutan dilakukan bersama-sama seluruh           in accordance with their respective duties and responsibilities.
      Direktur dan unit kerja pendukung, sesuai tugas dan tanggung
      jawab masing-masing.

      GMF telah membentuk Unit Corporate Communication & CSR di          GMF has formed a Corporate Communication & CSR Unit within
      dalam struktur Corporate Secretary & Legal yang bertanggung        the Corporate Secretary & Legal structure, which is specifically
      jawab secara khusus untuk menangani pelaksanaan kegiatan           responsible for handling the implementation of TJSL activities in
      TJSL di Perseroan. Unit ini dipimpin oleh seorang Senior Manager   the Company. This unit is led by a Senior Manager who reports
      yang bertanggung jawab kepada VP Corporate Secretary & Legal.      to the VP Corporate Secretary & Legal. The Company also has
      Perseroan juga memiliki unit lain untuk mengelola kegiatan         another unit specifically to manage social activities covering the
      sosial secara khusus yang mencakup bidang lingkungan dan           environmental and health sectors, namely the Quality, Health,
      kesehatan yaitu unit Quality, Health, Safety and Environment       Safety, and Environment (QHSE) unit, which falls under the
      (QHSE), yang berada di bawah Dinas Corporate Affairs & HSE.        Corporate Affairs & HSE Service.

      HASIL TATA KELOLA: EVALUASI,                                       GOVERNANCE RESULTS: EVALUATION,
      PEMANTAUAN, DAN PENINGKATAN                                        MONITORING, AND IMPROVEMENT

      Perseroan memiliki mekanisme assessment atau penilaian             The Company has a periodic assessment mechanism for its GCG
      penerapan GCG yang dilakukan secara berkala melalui metode         implementation through the following methods:
      berikut:
      1. Perseroan tidak melakukan Penilaian Penerapan GCG               1. The Company did not conduct a GCG Assessment based on
         berlandaskan Pendekatan BUMN pada tahun buku 2023                  the SOE Approach in the 2023 financial year due to new
         sehubungan dengan ketentuan baru Salinan Keputusan                 provisions. This is in accordance with the Decree of the
         Sekretaris Kementerian Badan Usaha Milik Negara                    Secretary of the Ministry of State-Owned Enterprises of
         Republik Indonesia Nomor SK-12/S.MBU/08/2023                       the Republic of Indonesia Number SK-12/S.MBU/08/2023,
         tentang Pencabutan Keputusan Sekretaris Kementerian                which revokes the previous Decree of SK-16/S.MBU/2012
         Badan Usaha Milik Negara Republik Indonesia Nomor: SK-             concerning Indicators/Parameters for Assessment and
         16/S.MBU/2012 tentang Indikator/Parameter Penilaian                Evaluation of the Implementation of Good Corporate
         dan Evaluasi Atas Penerapan Tata Kelola Perusahaan yang            Governance in State-Owned Enterprises. Until now, there
         Baik (Good Corporate Governance) pada Badan Usaha Milik            have been no new indicators serving as the basis for GCG
         Negara, hingga saat ini belum terdapat indikator baru sebagai      assessment for the 2023 financial year.
         dasar kriteria penilaian penerapan GCG tahun buku 2023.




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2. Penilaian Penerapan GCG Berdasarkan Parameter POJK                          2. Assessment of GCG Implementation Based on
   No.21/POJK.04/2015 tentang Penerapan Pedoman Tata                              POJK Parameters No. 21/POJK.04/2015 concerning
   Kelola Perusahaan Terbuka dan SEOJK No.32/SEOJK.04/2015                        Implementation of Public Company Governance Guidelines
   tentang Pedoman Tata Kelola Perusahaan Terbuka.                                and SEOJK No. 32/SEOJK.04/2015 concerning Public
                                                                                  Company Governance Guidelines.

PENILAIAN PENERAPAN GCG                                                        ASSESSMENT OF GCG IMPLEMENTATION BY
BERLANDASKAN PENDEKATAN BUMN                                                   SOE APPROACH

Seperti yang telah disampaikan sebelumnya, Perseroan tidak                     As stated previously, the Company did not assess the
melakukan penilaian terhadap implementasi GCG tahun buku                       implementation of GCG for the 2023 financial year based on
2023 berdasarkan pendekatan BUMN. Walaupun demikian,                           the SOE approach. Nonetheless, the Company keeps publishing
Perseroan tetap mempublikasikan hasil penilaian tahun buku                     the assessment results for the 2022 financial year as information
2022 sebagai informasi bagi pembaca.                                           for readers.

ASSESSMENT PENERAPAN GCG TAHUN BUKU                                            ASSESSMENT OF 2022 FINANCIAL YEAR GCG
2022: HASIL, REKOMENDASI DAN TINDAK                                            IMPLEMENTATION: RESULTS, RECOMMENDATION
LANJUTNYA TAHUN 2023                                                           AND FOLLOW UP IN 2023
Asesmen penerapan GCG periode tahun 2022 yang dilakukan                        The assessment of 2022 GCG implementation was done by PT
PT Multi Utama Indojasa dan memperoleh skor 95,218 dengan                      Multi Utama Indojasa and the Company’s score was 95.218 or
predikat “Sangat Baik”.                                                        “Excellent”.


              Jenis Penilaian                   Penilaian dari lembaga independen
            Type of Assessment                  Assessment from an independent institution

                   Penilai                      PT Multi Utama Indojasa
                  Assessor

            Periode Penerapan                   1 Januari-31 Desember 2022
           Implementation Period                January 1-December 31, 2022

                Tahun Buku                      2022
                 Fiscal Year

         Cakupan Area Penilaian                 PT Garuda Maintenance Facility Aero Asia Tbk
            Assessment Area

            Waktu Pengukuran                    Januari-Maret 2023
             Assessment Time                    January-March 2023

           Waktu Terbit Laporan                 31 Maret 2023
             Report Issuance                    March 31, 2023



Rincian hasil asesmen penerapan GCG Perseroan untuk tahun                      Assessment results of the Company’s GCG for the 2022 fiscal
buku 2022 dan perbandingan dengan tahun sebelumnya adalah                      year and comparisons with the previous year are as follows:
sebagai berikut:


                                                                     2022                                                2021
      Aspek Pengujian               Bobot                        Pencapaian                                        Pencapaian
     Assessment Aspect              Weight           Nilai                          Predikat        Nilai                                Predikat
                                                                 Achievement                                       Achievement
                                                    Score                           Predicate       Score                                Predicate
                                                                     (%)                                               (%)

 Ko m i t m e n te r h a d a p        7,00          6,778          96,828         “Sangat Baik”     6,784              96,919          “Sangat Baik”
 Penerapan Tata Kelola                                                             “Very Good”                                          “Very Good”
 Perusahaan yang Baik
 Secara Berkelanjutan
 Commitment to Continuous
 Implementation of Good
 Corporate Governance

 Pemegang Saham dan                   9,00          8,827          98,078         “Sangat Baik”      8,611             95,675          “Sangat Baik”
 RUPS/Pemilik Modal                                                                “Very Good”                                          “Very Good”
 Shareholders and GMS/
 Capital Owners




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194                                                                                                                                     Tata Kelola Perusahaan
                                                                                                                                         Corporate Governance




                                                                            2022                                                 2021
            Aspek Pengujian                 Bobot                   Pencapaian                                              Pencapaian
           Assessment Aspect                Weight        Nilai                           Predikat          Nilai                                Predikat
                                                                    Achievement                                             Achievement
                                                         Score                            Predicate         Score                                Predicate
                                                                        (%)                                                     (%)

        Dewan Komisaris/Dewan               35,00        34,691           99,116        “Sangat Baik”       33,718             96,337          “Sangat Baik”
        Pengawas                                                                         “Very Good”                                            “Very Good”
        Board of Commissioners/
        Board of Trustees

        Direksi                             35,00        32,785           93,672        “Sangat Baik”       33,787             96,534          “Sangat Baik”
        The Board of Directors                                                           “Very Good”                                            “Very Good”

        Pengungkapan Informasi               9,00        8,637            95,967        “Sangat Baik”       8,937              99,301          “Sangat Baik”
        dan Transparansi                                                                 “Very Good”                                            “Very Good”
        Information Disclosure and
        Transparency

        Aspek Lainnya                        5,00        3,500         70,000            “Cukup Baik”       3,750              75,000              “Baik”
        Other Aspects                                                                       “Fair”                                                “Good”

        Skor Keseluruhan                    100,00       95,218           95,218        “Sangat Baik”       95,587             95,587          “Sangat Baik”
        Overall Score                                                                    “Very Good”                                            “Very Good”


        Catatan | Notes:
        0-50: Tidak Baik | 50-60: Kurang Baik | 60-75: Cukup Baik | 75-85: Baik | 85-100: Sangat Baik
        0-50: Not Good | 50-60: Not Good. | 60-75: Good Enough | 75-85: Good | 85-100: Very Good


      Komitmen Perseroan dalam menyempurnakan implementasi                           One form of the Company’s commitment to GCG improvement
      GCG di antaranya dilakukan dengan menindaklanjuti setiap                       is by following up all recommendations or Area of Improvement.
      temuan dalam penilaian GCG yang menjadi rekomendasi dalam                      The 2022 assessment generated 41 recommendations for Areas
      area peningkatan atau Area of Improvement implementasi                         of Improvement (AoI) which the Company has follow up by the
      GCG. Dari hasil asesmen penerapan GCG untuk tahun buku                         end of 2023, with the following details:
      2022, terdapat 41 rekomendasi terhadap area-area yang perlu
      perbaikan/penyempurnaan atau Area of Improvement (AoI) yang
      telah ditindaklanjuti oleh Perseroan hingga akhir tahun 2023,
      dengan rincian sebagai berikut:


                                                                                          Tindak Lanjut Hingga Akhir Tahun 2023
                     Rekomendasi Assessment Penerapan                                         Follow Up Status by End of 2023
                          GCG Tahun Buku 2022
          No.                                                                      Periode Tindak
                     Recommendation of 2022 Financial Year         Status                                              Bentuk Tindak Lanjut
                       GCG Implementation Assessment                                    Lanjut
                                                                   Status                                                Follow Up Forms
                                                                                   Follow Up Period

                    Komitmen terhadap Penerapan Tata Kelola Perseroan yang Baik Secara Berkelanjutan
            I
                    Commitment to Sustainable Implementation of Good Corporate Governance

           1        Seluruh karyawan menandatangani                   √                 2023            Karyawan Perseroan telah menandatangani Lembar
                    pernyataan kepatuhan terhadap Pedoman                                               Pakta Integritas GMF pada tahun 2023 sebanyak
                    Perilaku (Pakta Integritas).                                                        4.400 karyawan atau setara dengan 97,1% dari 4.690
                    All employees sign a statement of compliance                                        jumlah karyawan.
                    with the Code of Conduct (Integrity Pact).                                          In 2023, the Company's employees signed the GMF
                                                                                                        Integrity Pact, totaling 4,400 employees, which is
                                                                                                        equivalent to 97.1% of the total 4,690 employees.




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                                                                             Tindak Lanjut Hingga Akhir Tahun 2023
               Rekomendasi Assessment Penerapan                                  Follow Up Status by End of 2023
                    GCG Tahun Buku 2022
   No.                                                                Periode Tindak
               Recommendation of 2022 Financial Year         Status                                    Bentuk Tindak Lanjut
                 GCG Implementation Assessment                             Lanjut
                                                             Status                                      Follow Up Forms
                                                                      Follow Up Period

     2       Melakukan survei pemahaman secara lebih           √           2023          Perseroan telah melakukan survei pemahaman
             spesifik dengan klasifikasi tingkat pemahaman                               secara spesifik dengan klasifikasi tingkat pemahaman
             Dewan Komisaris, Organ Dewan Komisaris,                                     Dewan Komisaris, Direksi, dan karyawan terhadap
             Direksi dan Karyawan terhadap Pedoman Tata                                  Pedoman Tata Kelola Perusahaan yang Baik dan
             Kelola Perusahaan yang Baik dan Pedoman                                     Pedoman Perilaku.
             Perilaku.
             Conducting a more specific survey by                                        Survei pemahaman GCG Tahun 2023 yang
             classifying the level of understanding of the                               dilaksanakan pada tanggal 31 Maret 2023 dengan
             Board of Commissioners and its Organs, Board                                responden Dewan Komisaris, Direksi, organ Dewan
             of Directors, and Employees regarding the                                   Komisaris, dan karyawan dengan nilai sebagai
             Guidelines of Good Corporate Governance                                     berikut:
             and the Code of Conduct.                                                    • GCG Code Karyawan sebesar 63,13%
                                                                                         • COC Karyawan sebesar 65,45%
                                                                                         • Pengendalian Gratifikasi Karyawan sebesar
                                                                                             69,02%

                                                                                         The Company conducted a specific survey to
                                                                                         classify the level of understanding of the Board of
                                                                                         Commissioners, Directors, and employees regarding
                                                                                         the Good Corporate Governance Guidelines and
                                                                                         Code of Conduct.

                                                                                         The 2023 GCG understanding survey was
                                                                                         conducted on March 31, 2023, with respondents
                                                                                         from the Board of Commissioners, Directors,
                                                                                         supporting organs of the Board of Commissioners,
                                                                                         and employees, yielding the following scores:
                                                                                         • Employee understanding of GCG Code: 63.13%
                                                                                         • Employee understanding of Code of Conduct
                                                                                            (COC): 65.45%
                                                                                         • Employee understanding of Gratification
                                                                                            Control: 69.02%

     3       Mendorong tingkat pemahaman Dewan                 √           2023          Perseroan telah melakukan sosialisasi kebijakan-
             Komisaris, Organ Dewan Komisaris, Direksi                                   kebijakan pendukung GCG secara daring melalui
             dan Karyawan pada tingkatan Sangat Baik                                     Orientation Training kepada karyawan baru
             terhadap Pedoman Tata Kelola Perusahaan                                     dan portal internal Perseroan untuk karyawan
             yang Baik dan Pedoman Perilaku dengan                                       lama. Perseroan juga telah melaksanakan survei
             meningkatkan pelaksanaan sosialisasi GCG                                    pemahaman GCG Tahun 2023 yang dilaksanakan
             secara efektif dan berkesinambungan.                                        pada tanggal 31 Maret 2023 dengan responden
             Improving the level of understanding of the                                 Dewan Komisaris, Direksi, organ Dewan Komisaris,
             Board of Commissioners and its Organs, the                                  dan karyawan dengan nilai sebagai berikut:
             Board of Directors, and Employees to reach                                  • GCG Code Karyawan sebesar 63,13%
             a level of Very Good of the Good Corporate                                  • COC Karyawan sebesar 65,45%
             Governance Guidelines and the Code of                                       • Pengendalian Gratifikasi Karyawan sebesar
             Conduct by improving the implementation                                        69,02%
             of effective and continuous dissemination
             of GCG.                                                                     The Company has socialized its GCG supporting
                                                                                         policies online through Orientation Training for
                                                                                         new employees and the Company's internal portal
                                                                                         for current employees. Additionally, the Company
                                                                                         conducted a 2023 GCG understanding survey on
                                                                                         March 31, 2023, with respondents from the Board of
                                                                                         Commissioners, Directors, supporting organs of the
                                                                                         Board of Commissioners, and employees, yielding
                                                                                         the following scores:
                                                                                         • Employee understanding of GCG Code: 63.13%
                                                                                         • Employee understanding of Code of Conduct
                                                                                             (COC): 65.45%
                                                                                         • Employee understanding of Gratification
                                                                                             Control: 69.02%




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196                                                                                                                          Tata Kelola Perusahaan
                                                                                                                              Corporate Governance




                                                                                    Tindak Lanjut Hingga Akhir Tahun 2023
                     Rekomendasi Assessment Penerapan                                   Follow Up Status by End of 2023
                          GCG Tahun Buku 2022
          No.                                                                Periode Tindak
                     Recommendation of 2022 Financial Year          Status                                    Bentuk Tindak Lanjut
                       GCG Implementation Assessment                              Lanjut
                                                                    Status                                      Follow Up Forms
                                                                             Follow Up Period

           4        Meningkatkan target capaian KPI praktik           √           2023          Tingkat pencapaian yang memadai atas KPI
                    pelaksanaan Tata Kelola Perusahaan yang                                     mengenai pelaksanaan Tata Kelola Perusahaan
                    Baik.                                                                       dapat dilihat untuk Triwulan III Tahun 2023 dengan
                    Improving KPI achievement for the                                           target 80,00% dan terealisasi sebesar 86,35%.
                    implementation of Good Corporate                                            An adequate level of KPI achievement regarding
                    Governance practice.                                                        the implementation of Corporate Governance can
                                                                                                be observed for Quarter III 2023, with a target of
                                                                                                80.00% and a realization of 86.35%.

           5        Menetapkan melalui keputusan Direksi terkait      √           2023          Kebijakan LHKPN dalam Pedoman Direksi dan
                    Kebijakan LHKPN yang mengatur pejabat                                       Pedoman Dewan Komisaris hingga kini masih dalam
                    GMF yang wajib lapor LHKPN.                                                 proses penyusunan.
                    Establish LHKPN Policy through a decree of                                  The LHKPN policy in the Guidelines for Directors and
                    the Board of Directors which regulates GMF                                  Commissioners is still being prepared
                    officials who are required to report LHKPN.

           6        Menetapkan melalui keputusan Direksi              √           2023          Penunjukan pejabat Perseroan yang ditugaskan
                    terkait penunjukan pejabat Perusahaan                                       melaksanakan koordinasi pengelolaan LHKPN di
                    yang ditugaskan melaksanakan koordinasi                                     lingkungan Perseroan telah ditetapkan dalam SKEP/
                    pengelolaan LHKPN di lingkungan GMF.                                        DT-5009/2023 Organisasi Induk.
                    Establish the appointment of Company                                        The appointment of Company officials tasked
                    officials through a decree of the Board                                     with coordinating LHKPN management within
                    of Directors to coordinate the LHKPN                                        the Company has been stipulated in SKEP/DT-
                    management within the GMF.                                                  5009/2023 of the Parent Organization.

           7        Melakukan survei pemahaman secara lebih           √           2023          Perseroan telah melakukan sosialisasi kebijakan-
                    spesifik dengan klasifikasi tingkat pemahaman                               kebijakan pendukung GCG secara daring melalui
                    Dewan Komisaris, Organ Dewan Komisaris,                                     Orientation Training kepada karyawan baru
                    Direksi dan Karyawan terhadap Kebijakan                                     dan portal internal Perseroan untuk karyawan
                    Pengendalian Gratifikasi.                                                   lama. Perseroan juga telah melaksanakan survei
                    Conducting a more specific survey by                                        pemahaman GCG Tahun 2023 yang dilaksanakan
                    classifying the level of understanding of the                               pada tanggal 31 Maret 2023 dengan responden
                    Board of Commissioners and its Organs, Board                                Dewan Komisaris, Direksi, organ Dewan Komisaris,
                    of Directors, and Employees regarding the                                   dan karyawan dengan nilai sebagai berikut:
                    Gratification Control Policy.                                               • GCG Code Karyawan sebesar 63,13%
                                                                                                • COC Karyawan sebesar 65,45%
                                                                                                • Pengendalian Gratifikasi Karyawan sebesar
                                                                                                   69,02%

                                                                                                The Company has socialized its GCG supporting
                                                                                                policies online through Orientation Training for
                                                                                                new employees and the Company's internal portal
                                                                                                for current employees. Additionally, the Company
                                                                                                conducted a 2023 GCG understanding survey on
                                                                                                March 31, 2023, with respondents from the Board of
                                                                                                Commissioners, Directors, supporting organs of the
                                                                                                Board of Commissioners, and employees, yielding
                                                                                                the following scores:
                                                                                                • Employee understanding of GCG Code: 63.13%
                                                                                                • Employee understanding of Code of Conduct
                                                                                                    (COC): 65.45%
                                                                                                • Employee understanding of Gratification
                                                                                                    Control: 69.02%




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                                                                               Tindak Lanjut Hingga Akhir Tahun 2023
               Rekomendasi Assessment Penerapan                                    Follow Up Status by End of 2023
                    GCG Tahun Buku 2022
   No.                                                                  Periode Tindak
               Recommendation of 2022 Financial Year           Status                                    Bentuk Tindak Lanjut
                 GCG Implementation Assessment                               Lanjut
                                                               Status                                      Follow Up Forms
                                                                        Follow Up Period

     8       Mendorong tingkat pemahaman Dewan                   √           2023          Perseroan telah melakukan sosialisasi kebijakan-
             Komisaris, Organ Dewan Komisaris, Direksi                                     kebijakan pendukung GCG secara daring melalui
             dan Karyawan pada tingkatan Sangat Baik                                       Orientation Training kepada karyawan baru
             terhadap Kebijakan Pengendalian Gratifikasi                                   dan portal internal Perseroan untuk karyawan
             dengan meningkatkan pelaksanaan sosialisasi                                   lama. Perseroan juga telah melaksanakan survei
             GCG secara efektif dan berkesinambungan.                                      pemahaman GCG Tahun 2023 yang dilaksanakan
             Improving the level of understanding of the                                   pada tanggal 31 Maret 2023 dengan responden
             Board of Commissioners and its Organs, the                                    Dewan Komisaris, Direksi, organ Dewan Komisaris,
             Board of Directors, and Employees to reach a                                  dan karyawan dengan nilai sebagai berikut:
             level of Excellent of the Gratification Control                               • GCG Code Karyawan sebesar 63,13%
             Policy by improving the implementation of                                     • COC Karyawan sebesar 65,45%
             effective and continuous dissemination of                                     • Pengendalian Gratifikasi Karyawan sebesar
             GCG.                                                                             69,02%

                                                                                           The Company has socialized its GCG supporting
                                                                                           policies online through Orientation Training for
                                                                                           new employees and the Company's internal portal
                                                                                           for current employees. Additionally, the Company
                                                                                           conducted a 2023 GCG understanding survey on
                                                                                           March 31, 2023, with respondents from the Board of
                                                                                           Commissioners, Directors, supporting organs of the
                                                                                           Board of Commissioners, and employees, yielding
                                                                                           the following scores:
                                                                                           • Employee understanding of GCG Code: 63.13%
                                                                                           • Employee understanding of Code of Conduct
                                                                                               (COC): 65.45%
                                                                                           • Employee understanding of Gratification
                                                                                               Control: 69.02%

             Pemegang Saham dan RUPS/Pemilik Modal
     II
             Shareholders and GMS/Capital Owners

     1       RUPS melaksanakan pengesahan terhadap               √           2023          RUPS pengesahan terhadap Laporan Tahunan dan
             Laporan Tahunan dan persetujuan Laporan                                       persetujuan Laporan Keuangan sudah dilaksanakan
             Keuangan secara tepat waktu sesuai dengan                                     secara tepat waktu, yaitu paling lambat enam bulan
             ketentuan, yaitu dilaksanakan paling lambat                                   setelah berakhirnya tahun buku. Pelaksanaan RUPS
             enam bulan setelah berakhirnya tahun buku.                                    Tahunan adalah pada 28 Juni 2023.
             The GMS timely ratified the Annual Report                                     The GMS ratification of the Annual Report and
             and approved the Financial Statements not                                     approval of the Financial Statement was carried
             more than six months after the end of the                                     out punctually in less than six months after the end
             financial year according to the provisions.                                   of the financial year. The Annual GMS was held on
                                                                                           June 28, 2023.




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                                                                                    Tindak Lanjut Hingga Akhir Tahun 2023
                     Rekomendasi Assessment Penerapan                                   Follow Up Status by End of 2023
                          GCG Tahun Buku 2022
          No.                                                                Periode Tindak
                     Recommendation of 2022 Financial Year          Status                                    Bentuk Tindak Lanjut
                       GCG Implementation Assessment                              Lanjut
                                                                    Status                                      Follow Up Forms
                                                                             Follow Up Period

                    Dewan Komisaris/Dewan Pengawas
           III
                    Board of Commissioners/Board of Trustees

           1        Terdapat simpulan bahwa usulan RKAP               √           2023          Dewan Komisaris telah memberikan pendapat dan
                    selaras dan/atau tidak selaras dengan RJPP                                  saran terhadap usulan RKAP 2023. Berdasarkan
                    Perseroan (pada tanggapan RKAP yang                                         Pedoman Penyusunan RKAP Perusahaan,
                    disampaikan oleh Dewan Komisaris).                                          persetujuan hanya dilakukan sampai dengan
                    There is a conclusion that the proposed                                     Dewan Komisaris saja selambat-lambatnya akhir
                    RKAP is aligned and/or not aligned with the                                 bulan Desember sebelum periode RJPP. Tanggapan
                    Company's RJPP (in the RKAP responses                                       dan persetujuan RKAP oleh Dewan Komisaris telah
                    submitted by the Board of Commissioners).                                   dilaksanakan tepat waktu yaitu pada tanggal 22
                                                                                                Desember 2023. Namun demikian, dalam tanggapan
                                                                                                tersebut belum terdapat adanya kesimpulan bahwa
                                                                                                usulan RKAP 2023 selaras atau tidak dengan
                                                                                                RJPP Perseroan. Pengesahan RKAP tidak sampai
                                                                                                ke Pemegang Saham karena status GMF adalah
                                                                                                Perusahaan Terbuka.
                                                                                                The Board of Commissioners has provided opinions
                                                                                                and suggestions on the 2023 RKAP proposal. Based
                                                                                                on the Company's RKAP Preparation Guidelines,
                                                                                                approval is only made by the Board of Commissioners
                                                                                                no later than the end of December before the RJPP
                                                                                                period. The response and approval of the RKAP by
                                                                                                the Board of Commissioners was carried out on time
                                                                                                on December 22, 2023. However, in this response,
                                                                                                there was no conclusion as to whether the proposed
                                                                                                2023 RKAP was in line with the Company's RJPP
                                                                                                or not. Ratification of the RKAP does not reach the
                                                                                                Shareholders because GMF's status is a Public
                                                                                                Company.

           2        Mendokumentasikan Laporan Manajemen               √           2023          Laporan Manajemen Triwulan IV masih dalam proses
                    Triwulan IV yang telah ditandatangani oleh                                  penandatanganan oleh Direksi dan Dewan Komisaris.
                    seluruh Dewan Komisaris dan Direksi.                                        The Fourth Quarter Management Report is still in the
                    Made documentation of the Fourth                                            process of being signed by the Board of Directors
                    Quarter Management Report signed by all                                     and Commissioners.
                    Commissioners and Directors.

           3        Sekretaris Dewan Komisaris menyampaikan           √           2023          Sekretaris Dewan Komisaris telah menyampaikan
                    bahan rapat Dewan Komisaris kepada seluruh                                  bahan rapat Dewan Komisaris kepada seluruh
                    peserta rapat sesuai dengan standar waktu                                   peserta rapat sesuai dengan standar waktu yang
                    yang ditetapkan dalam Pedoman Dewan                                         ditetapkan dalam Pedoman Dewan Komisaris, yaitu
                    Komisaris, yaitu bahan rapat disampaikan                                    paling lambat 5 (lima) hari kalender sebelum rapat
                    paling lambat 5 (lima) hari kalender sebelum                                diselenggarakan.
                    rapat diselenggarakan.                                                      The Secretary to the Board of Commissioners has
                    The Secretary to the Board of Commissioners                                 delivered the Board of Commissioners' meeting
                    delivers the materials for the Board of                                     materials to all meeting participants in accordance
                    Commissioners' meeting to all participants in                               with the time standards stipulated in the Board of
                    accordance with the standard time set out                                   Commissioners' Guidelines, no later than 5 (five)
                    in the Board of Commissioners Guidelines,                                   calendar days before the meeting is held.
                    that meeting materials must be submitted
                    no later than 5 (five) calendar days before
                    the meeting is held.




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                                                                             Tindak Lanjut Hingga Akhir Tahun 2023
               Rekomendasi Assessment Penerapan                                  Follow Up Status by End of 2023
                    GCG Tahun Buku 2022
   No.                                                                Periode Tindak
               Recommendation of 2022 Financial Year         Status                                    Bentuk Tindak Lanjut
                 GCG Implementation Assessment                             Lanjut
                                                             Status                                      Follow Up Forms
                                                                      Follow Up Period

             Direksi
    IV
             Board of Directors

     1       Nilai HPS terbuka dan tidak bersifat rahasia.     √           2023          Pada tahun 2023, HPS bersifat rahasia terbatas pada
             The HPS value is open and not a secret.                                     pada pihak internal (user) dan eksternal (vendor)
                                                                                         karena dikhawatirkan user sudah punya preferensi
                                                                                         vendor. Kebutuhan informasi HPS disampaikan user
                                                                                         untuk kepentingan realisasi anggaran dan detail
                                                                                         spesifikasi pengajuan realisasi anggaran.
                                                                                         In 2023, information on HPS is classified as
                                                                                         confidential and only limited to internal (users) and
                                                                                         external (vendors) parties because of concerns that
                                                                                         users may already have vendor preferences. HPS
                                                                                         information are submitted by users for the purposes
                                                                                         of budget realization and detailed specifications for
                                                                                         budget realization submissions.

     2.      Menerbitkan Laporan Keuangan Triwulanan           √           2023          Laporan triwulan I 2023 disampaikan ke IDX pada
             dan Tahunan secara tepat waktu.                                             tanggal 8 Mei 2023, keterlambatan disebabkan audit
             Timely published Quarterly and Annually                                     laporan keuangan tahun 2022 yang mundur. Laporan
             Financial Reports.                                                          triwulan II 2023 disampaikan ke IDX dan OJK tepat
                                                                                         waktu pada tanggal 28 Juli 2023. Laporan triwulan III
                                                                                         2023 sudah disubmit pada tanggal 27 Oktober 2023.
                                                                                         The first quarter 2023 report was submitted to IDX
                                                                                         on May 8, 2023. The delay was due to the delayed
                                                                                         audit of the 2022 financial statement. The second
                                                                                         quarter 2023 report was submitted to IDX and OJK
                                                                                         on time on July 28, 2023. The third quarter 2023
                                                                                         report was submitted on October 27, 2023.

     3.      Mendokumentasikan progres (tingkat                √           2023          Telah mendokumentasikan progres pelaksanaan
             penyelesaian) pelaksanaan tindak lanjut dari                                tindak lanjut dari rekomendasi auditor eksternal dan
             rekomendasi auditor eksternal dan dilaporkan                                dilaporkan kepada Dewan Komisaris secara berkala
             kepada Dewan Komisaris secara berkala                                       paling sedikit 3 (tiga) bulanan.
             paling sedikit 3 (tiga) bulanan.                                            Progress in implementing the follow-up to the
             Document the progress (completion level)                                    external auditor's recommendations has been
             of the follow-up of the external auditor's                                  documented and reported to the Board of
             recommendations and report to the Board                                     Commissioners periodically, at least every three
             of Commissioners periodically at least in 3                                 months.
             (three) months.

     4.      Menghindari teguran, tuntutan maupun              √           2023          Terdapat teguran tertulis mengenai keterlambatan
             sanksi kepada perusahaan dari otoritas/                                     laporan tahunan dan laporan keuangan.
             instansi yang berwenang.                                                    Received written warnings regarding delays in
             Avoid warning, lawsuit or sanctions from the                                annual reports and financial statements.
             competent authorities/agencies.

    5.       Meningkatkan hasil Survei Kepuasan                √           2023          Hasil survei kepuasan pelanggan meningkat di nilai
             Pelanggan pada tingkatan sangat baik.                                       3.94, sebelumnya 3.71.
             Increase the Customer Satisfaction Survey                                   The result of customer satisfaction survey increased
             result to a level of very good.                                             to 3.94, previously 3.71.




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                                                                                   Tindak Lanjut Hingga Akhir Tahun 2023
                     Rekomendasi Assessment Penerapan                                  Follow Up Status by End of 2023
                          GCG Tahun Buku 2022
          No.                                                               Periode Tindak
                     Recommendation of 2022 Financial Year         Status                                    Bentuk Tindak Lanjut
                       GCG Implementation Assessment                             Lanjut
                                                                   Status                                      Follow Up Forms
                                                                            Follow Up Period

           6.       Mendokumentasikan rekapitulasi ketepatan         √           2023          •   Pembayaran kepada pemasok sudah
                    waktu pembayaran kepada pemasok sesuai                                         menggunakan sistem dan terdapat warning
                    dengan persyaratan dalam perjanjian/kontrak.                                   apabila terjadi keterlambatan pembayaran.
                    Documenting the summary of timely                                          •   Pencapaian APP bulan Desember 2023 adalah
                    payments to suppliers according to the                                         155 hari, yang berarti mencapai target <229 hari.
                    agreement/contract.                                                            Hal ini disebabkan adanya penyelesaian proyek
                                                                                                   reaktivasi Garuda.
                                                                                               •   Dalam meminimalkan hold shipment, TX
                                                                                                   melakukan pembayaran dimuka untuk material
                                                                                                   yang termasuk ke dalam prioritas dan melakukan
                                                                                                   pengalokasian cash out atas material sesuai
                                                                                                   dengan cash in dari pelanggan.
                                                                                               •   Dalam mengatur cash out, TX melakukan
                                                                                                   pengajuan restrukturisasi AP kepada vendor-
                                                                                                   vendor dengan skema pembayaran sesuai
                                                                                                   dengan tiering.
                                                                                               •   Saat ini, pembayaran juga sudah menggunakan
                                                                                                   metode cash in advance sehingga tidak terjadi
                                                                                                   keterlambatan pembayaran kepada pemasok.
                                                                                               •   Payments to suppliers now utilize a system with
                                                                                                   warnings in case of payment delays.
                                                                                               •   APP achievement in December 2023 is 155
                                                                                                   days, surpassing the target of <229 days. This
                                                                                                   occurred due to the completion of the Garuda
                                                                                                   reactivation project.
                                                                                               •   To minimize held shipments, TX makes advance
                                                                                                   payments for priority materials and allocates
                                                                                                   cash out according to cash in from customers.
                                                                                               •   For cash out management, TX proposes AP
                                                                                                   restructuring to vendors with a payment scheme
                                                                                                   aligned with tiering.
                                                                                               •   Currently, payments also employ the cash-in-
                                                                                                   advance method to prevent delays in payments
                                                                                                   to suppliers.

           7.       Mendorong pencapaian hasil survei kepuasan       √           2023          Hasil survei kepuasan pemasok sudah menunjukkan
                    pemasok pada level Very Satisfied (Sangat                                  kepuasan di level Very Satisfied.
                    Puas).                                                                     Supplier satisfaction survey indicate satisfaction at
                    Pushing for the supplier satisfaction survey                               the Very Satisfied level.
                    to reach a level of Very Satisfied.

           8.       Menyusun kebijakan perlindungan hak dan          √           2023          Sedang dalam proses koordinasi dengan Dinas
                    kepentingan kreditur yang mengatur antara                                  pemilik proses bisnis yaitu Dinas Treasury
                    lain:                                                                      Management.
                    pengungkapan informasi secara transparan,                                  Currently, in the process of coordinating with the
                    akurat dan tepat waktu, baik pada saat                                     Department that owns the business process, namely
                    permintaan maupun penggunaan pinjaman                                      the Treasury Management Service.
                    manajemen/pengelolaan penggunaan
                    pinjaman jangka panjang sesuai dengan
                    peruntukannya dan pelunasannya
                    Prepare a policy to protect the rights and
                    interests of creditors that regulates, among
                    others:
                    Disclosure of information transparently,
                    accurately, and timely when requesting
                    and using a loan Management of long-term
                    loans usage according to their designation
                    and repayment




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                                                                            Tindak Lanjut Hingga Akhir Tahun 2023
               Rekomendasi Assessment Penerapan                                 Follow Up Status by End of 2023
                    GCG Tahun Buku 2022
   No.                                                               Periode Tindak
               Recommendation of 2022 Financial Year        Status                                    Bentuk Tindak Lanjut
                 GCG Implementation Assessment                            Lanjut
                                                            Status                                      Follow Up Forms
                                                                     Follow Up Period

    9.       Menghindari terjadi mismatch dalam               √           2023          Sampai dengan Q4 2023, tidak pernah terjadi
             penggunaan dan penyediaan dana dan                                         kesalahan dalam penggunaan dan penyediaan dana
             pendapatan operasional yang digunakan                                      dari pendapatan operasional yang digunakan untuk
             untuk melakukan pembayaran bunga dan                                       melakukan pembayaran bunga dan pokok utang
             pokok hutang jangka panjang.                                               jangka panjang. Realisasi pembayaran bunga dan
             Avoid any mismatch in provision and usage of                               pokok utang jangka panjang telah mengikuti jadwal
             funds and operating income for payments of                                 dan alokasi yang ditentukan dimana apabila terdapat
             long-term debt principal and interest.                                     perubahan dari kreditur, akan mengikuti kemudian.
                                                                                        As of Q4 2023, there have been no errors in the use
                                                                                        and provision of funds from operational income,
                                                                                        which are used to make interest and principal
                                                                                        payments on long-term debt. Realization of interest
                                                                                        and principal payments on long-term debt has
                                                                                        followed a determined schedule and allocation,
                                                                                        with any changes from creditors being addressed
                                                                                        subsequently.

    10.      Memberikan informasi yang akurat kepada          √           2023          Sampai dengan Q4 2023, Perseroan selalu
             kreditur sesuai dengan perjanjian, secara                                  memberikan informasi yang akurat terkait perubahan
             lengkap dan tepat waktu.                                                   Direksi, perubahan proxy, serta informasi terkait
             Timely providing creditors with accurate,                                  covenant yang telah diatur.
             complete, information according to the                                     Until Q4 2023, the Company has consistently
             agreement.                                                                 provided accurate information regarding changes
                                                                                        in the Board of Directors, changes in proxies, as well
                                                                                        as information related to covenants that have been
                                                                                        regulated.

    11.      Melaksanakan pembayaran kepada kreditur          √           2023          •   Telah dilakukan pembayaran baik pembayaran
             secara tepat waktu/sesuai perjanjian, serta                                    pokok utang jangka panjang beserta bunga
             tidak terdapat keterlambatan/penundaan                                         yang telah disepakati pada perjanjian kerja sama
             pembayaran pinjaman kepada bank dan                                            restrukturisasi.
             kreditur.                                                                  •   Pembayaran bunga yang dilakukan pada
             Paid creditors on time/according to the                                        periode bulan Oktober-Desember 2023 telah
             agreement with no delays to banks and                                          sesuai dengan nominal dan jadwal yang telah
             creditors.                                                                     ditentukan dan disepakati dengan kreditor.
                                                                                        •   Resturukturisasi kredit dengan kreditur BRI
                                                                                            sudah ditandatangani pada Q4 2023.
                                                                                        •   Both principal payments of long-term debt
                                                                                            and interest have been made as agreed in the
                                                                                            restructuring cooperation agreement.
                                                                                        •   Interest payments made in during October-
                                                                                            December 2023 are in accordance with the
                                                                                            nominal amount and schedule that has been
                                                                                            determined and agreed with creditors.
                                                                                        •   Credit restructuring with BRI creditors has been
                                                                                            signed in Q4 2023.

    12.      Menghindari keterlambatan penyampaian            √           2023          Perseroan tidak mengalami keterlambatan dalam
             dokumen kewajiban perpajakan (SPT Tahunan                                  penyampaian SPT bulanan.
             maupun bulanan)                                                            The Company does not experience delays in
             Avoid in delaying tax returns submission                                   submitting monthly SPT.
             (annual and monthly SPT)

    13       Menghindari keterlambatan pembayaran             √           2023          Perseroan telah melunasi sebagian pajak yang
             kewajiban pajak (PPh karyawan)                                             terutang pada tahun 2022-2023.
             Avoid being late in paying tax obligations                                 The Company has paid off part of the taxes owed
             (employee income tax)                                                      in 2022-2023.


    14.      Menghindari keterlambatan penyampaian            √           2023          Tidak terdapat keterlambatan penyampaian
             dokumen kewajiban pada lembaga regulator.                                  dokumen kewajiban kepada Lembaga regulator.
             Avoid in delaying documents submission to                                  There is no delay in submitting obligation documents
             regulatory agencies.                                                       to regulatory agencies.




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                                                                                    Tindak Lanjut Hingga Akhir Tahun 2023
                     Rekomendasi Assessment Penerapan                                   Follow Up Status by End of 2023
                          GCG Tahun Buku 2022
          No.                                                                Periode Tindak
                     Recommendation of 2022 Financial Year          Status                                    Bentuk Tindak Lanjut
                       GCG Implementation Assessment                              Lanjut
                                                                    Status                                      Follow Up Forms
                                                                             Follow Up Period

           15.      Hasil survei tingkat kepuasan indeks kepuasan     √           2023          Telah terdapat program kerja untuk menindaklanjuti
                    karyawan menunjukan nilai kepuasan yang                                     hasil Survei Kepuasan Karyawan.
                    Baik.
                    The survey of employee satisfaction index                                   Penyusunan corporate intervention program:
                    resulted in a satisfaction value of Good.                                   • Employee Program (Back to Basic, Mindfulness
                                                                                                   & Financial Workshop, Women Empowerment
                                                                                                   Program, GMF Community, Employee Survey)
                                                                                                • Leadership Program (VP Kopi Sore, Leaders Meet
                                                                                                   Up, Leaders Talk, One Leader One Course One
                                                                                                   Sharing, Leaders Exposure)
                                                                                                • Corporate Event (Peringatan Hari Kartini, Hari Ibu,
                                                                                                   Aviation Technician Day, HUT GMF, Peringatan
                                                                                                   HUT RI, Safety & Helath Day, AKHLAK Venture,
                                                                                                   Innovation Day)

                                                                                                There is a program to follow up on the results of the
                                                                                                Employee Satisfaction Survey.

                                                                                                Preparation of corporate intervention programs:
                                                                                                • Employee Program (Back to Basics, Mindfulness
                                                                                                   & Financial Workshop, Women Empowerment
                                                                                                   Program, GMF Community, Employee Survey)
                                                                                                • Leadership Program (VP Afternoon Coffee,
                                                                                                   Leaders Meet Up, Leaders Talk, One Leader
                                                                                                   One Course One Sharing, Leaders Exposure)
                                                                                                • Corporate Events (Kartini Day Commemoration,
                                                                                                   Mother's Day, Aviation Technician Day, GMF
                                                                                                   Anniversary, Republic of Indonesia Anniversary
                                                                                                   Commemoration, Safety & Health Day, AKHLAK
                                                                                                   Venture, Innovation Day)

           16.      Menyampaikan Laporan Manajemen                    √           2023          Laporan Manajemen Triwulan IV Tahun 2022 kepada
                    Triwulan IV kepada Dewan Komisaris sebelum                                  Dewan Komisaris Ref. GMF/DT-2093/23 Tanggal 13
                    disampaikan kepada Pemegang Saham.                                          April 2023.
                    Submit Quarterly Management Report
                    IV to the Board of Commissioners prior to                                   Laporan Manajemen Triwulan IV Tahun 2023 masih
                    Shareholders.                                                               dalam proses persiapan.
                                                                                                Quarter IV 2022 Management Report to the Board
                                                                                                of Commissioners Ref. GMF/DT-2093/23 dated April
                                                                                                13, 2023.

                                                                                                The 2023 Quarter IV Management Report is still
                                                                                                being prepared.




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                                                                              Tindak Lanjut Hingga Akhir Tahun 2023
               Rekomendasi Assessment Penerapan                                   Follow Up Status by End of 2023
                    GCG Tahun Buku 2022
   No.                                                                 Periode Tindak
               Recommendation of 2022 Financial Year          Status                                   Bentuk Tindak Lanjut
                 GCG Implementation Assessment                              Lanjut
                                                              Status                                     Follow Up Forms
                                                                       Follow Up Period

    17.      Menyampaikan Laporan Manajemen (triwulan           √           2023          Masih terdapat keterlambatan dalam penyampaian
             dan tahunan) kepada Dewan Komisaris tepat                                    Laporan Manajemen Triwulan.
             waktu yaitu paling lambat 1 (bulan) setelah
             triwulanan yang bersangkutan.                                                1. Laporan Manajemen Triwulan I (Ref. TS GMF/
             Timely submission of the Management                                             DT-2117/23) Tanggal: 08 Mei 2023
             Reports (quarterly and annually) to the Board                                2. Laporan Manajemen Triwulan II Tanggal: (Ref.
             of Commissioners no more than 1 (month)                                         GMF/DT-2240/23 Tanggal 30 Agustus 2023
             after the relevant quarter.                                                     (Dokumen tanggal 27 September 2023)
                                                                                          3. Laporan Manajemen Triwulan III Tanggal: Ref.
                                                                                             GMF/DT-2278/23 Tanggal 30 Oktober 2023
                                                                                          4. Laporan Manajemen Triwulan IV masih dalam
                                                                                             proses penyusunan

                                                                                          There are still delays in submitting Quarterly
                                                                                          Management Reports.

                                                                                          1. First Quarter Management Report (Ref. TS GMF/
                                                                                             DT-2117/23) Date: May 8, 2023
                                                                                          2. Second Quarter Management Report (Ref. GMF/
                                                                                             DT-2240/23) Date: August 30, 2023 (Document
                                                                                             dated September 27, 2023)
                                                                                          3. Third Quarter Management Report (Ref. GMF/
                                                                                             DT-2278/23) Date: October 30, 2023
                                                                                          4. The Fourth Quarter Management Report is still
                                                                                             in the process of being prepared.

    18.      Menyampaikan Laporan Manajemen Triwulan            √           2023          Tahun 2022
             IV yang telah ditandatangani seluruh anggota                                 Laporan Manajemen Triwulan IV: Ref. GMF/DT-
             Direksi dan seluruh anggota Dewan Komisaris                                  2093/23 tanggal 13 April 2023
             kepada Pemegang Saham.
             Submit Quarterly Management Report                                           Tahun 2023
             IV, signed by all members of the Board                                       Laporan Manajemen Triwulan IV: masih dalam proses
             of Directors and Commissioners, to the                                       penyusunan
             Shareholders.
                                                                                          Year 2022
                                                                                          Fourth Quarter Management Report: Ref. GMF/DT-
                                                                                          2093/23 dated 13 April 2023

                                                                                          Year 2023
                                                                                          Fourth Quarter Management Report: still being
                                                                                          prepared

    19.      Menyampaikan Laporan Manajemen dan                 X           2023          Masih terdapat keterlambatan dalam penyampaian
             Laporan Tahunan kepada Pemegang Saham                                        Laporan Manajemen Triwulan.
             secara tepat waktu. Laporan Manajemen
             Triwulanan disampaikan 1 bulan setelah                                       1. Laporan Manajemen Triwulan I (Ref. TS GMF/
             triwulanan yang bersangkutan dan Laporan                                        DT-2117/23) Tanggal: 08 Mei 2023
             Manajemen Tahunan 2 bulan setelah                                            2. Laporan Manajemen Triwulan II Tanggal: (Ref.
             berakhirnya tahun buku) kepada Pemegang                                         GMF/DT-2240/23 Tanggal 30 Agustus 2023
             Saham; dan penyampaian Laporan Tahunan                                          (Dokumen tanggal :27 September 2023)
             kepada Pemegang Saham paling lambat 5                                        3. Laporan Manajemen Triwulan III Tanggal: Ref.
             (lima) bulan setelah tahun buku berakhir.                                       GMF/DT-2278/23 Tanggal 30 Oktober 2023
             Submitting Management Reports and                                            4. Laporan Manajemen Triwulan IV masih dalam
             Annual Reports to Shareholders in a timely                                      proses penyusunan
             manner. Quarterly Management Reports
             are submitted 1 month after the relevant                                     There are still delays in submitting Quarterly
             quarter and Annual Management Reports 2                                      Management Reports.
             months after the end of the financial year)
             to Shareholders; and submission of Annual                                    1. First Quarter Management Report (Ref. TS GMF/
             Reports to Shareholders no later than 5 (five)                                  DT-2117/23) Date: May 8, 2023
             months after the financial year ends.                                        2. Second Quarter Management Report (Ref. GMF/
                                                                                             DT-2240/23) Date: August 30, 2023 (Document
                                                                                             dated September 27, 2023)
                                                                                          3. Third Quarter Management Report (Ref. GMF/
                                                                                             DT-2278/23) Date: October 30, 2023
                                                                                          4. The Fourth Quarter Management Report is still
                                                                                             in the process of being prepared.



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                                                                                     Tindak Lanjut Hingga Akhir Tahun 2023
                     Rekomendasi Assessment Penerapan                                    Follow Up Status by End of 2023
                          GCG Tahun Buku 2022
          No.                                                                 Periode Tindak
                     Recommendation of 2022 Financial Year           Status                                    Bentuk Tindak Lanjut
                       GCG Implementation Assessment                               Lanjut
                                                                     Status                                      Follow Up Forms
                                                                              Follow Up Period

          20.       Mendokumentasikan monitoring evaluasi              √           2023          Evaluasi terhadap pelaksanaan Keputusan hasil
                    terhadap pelaksanaan keputusan hasil rapat                                   rapat sebelumnya telah didokumentasikan pada
                    sebelumnya.                                                                  Risalah Rapat Direksi.
                    Documenting the monitoring and evaluation                                    The evaluation of the implementation of the previous
                    of the implementation of decisions from the                                  meeting's decisions has been documented in the
                    previous meeting.                                                            Minutes of the Board of Directors' Meeting.

           21.      Mendokumentasikan progress tindak lanjut           √           2023          Progres tindak lanjut atas arahan, dan/atau
                    atas arahan, dan/atau keputusan Dewan                                        keputusan Dewan Komisaris telah didokumentasikan
                    Komisaris.                                                                   pada Risalah Rapat Direksi.
                    Documenting follow-up progress on                                            The progress of the follow-up to the directions and/
                    instructions, and/or decisions from the Board                                or decisions of the Board of Commissioners has been
                    of Commissioners.                                                            documented in the Minutes of the Board of Directors
                                                                                                 Meetin


          22.       Laporan Manajemen (triwulan dan tahunan)           X           2023          Dalam penyampaian Laporan Manajemen Triwulan.
                    disampaikan kepada Dewan Komisaris tepat
                    waktu yaitu paling lambat 1 (satu) bulan                                     1. Laporan Manajemen Triwulan I (Ref. TS GMF/
                    setelah triwulanan yang bersangkutan.                                           DT-2117/23) Tanggal: 08 Mei 2023
                                                                                                 2. Laporan Manajemen Triwulan II Tanggal: Ref.
                                                                                                    GMF/DT-2240/23 Tanggal 30 Agustus 2023
                                                                                                    (Dokumen tanggal: 27 September 2023)
                                                                                                 3. Laporan Manajemen Triwulan III Tanggal: Ref.
                                                                                                    GMF/DT-2278/23 Tanggal 30 Oktober 2023
                                                                                                 4. Laporan Manajemen Triwulan IV masih dalam
                                                                                                    proses penyusunan

                                                                                                 In terms of the submission of Quarterly Management
                                                                                                 Reports.

                                                                                                 1. First Quarter Management Report (Ref. TS GMF/
                                                                                                    DT-2117/23) Date: May 8, 2023
                                                                                                 2. Second Quarter Management Report Date:
                                                                                                    Ref. GMF/DT-2240/23 Date: August 30, 2023
                                                                                                    (Document date: September 27, 2023)
                                                                                                 3. Third Quarter Management Report Date: Ref.
                                                                                                    GMF/DT-2278/23 Date: October 30, 2023
                                                                                                 4. The Fourth Quarter Management Report is still
                                                                                                    in the process of being prepared

          23.       Risalah Rapat Direksi memuat hasil                 X           2023          Risalah Rapat Direksi belum memuat hasil evaluasi
                    evaluasi atas pelaksanaan keputusan rapat                                    atas pelaksanaan keputusan rapat sebelumnya.
                    sebelumnya.                                                                  The minutes of the Board of Directors' meeting do
                    The minutes of the Board of Directors' meeting                               not yet contain the results of the implementation of
                    contain evaluation of the implementation of                                  the previous meeting's decisions.
                    the decisions of the previous meeting.

          24.       Mendokumentasi validasi Risalah Rapat              X           2023          Belum diperoleh dokumentasi terkait validasi Risalah
                    Direksi selambat-lambatnya 7 (tujuh) hari                                    Rapat Direksi selambat-lambatnya 7 (tujuh) hari
                    setelah rapat selesai dilaksanakan.                                          setelah rapat selesai dilaksanakan.
                    Documenting the validation of the Minutes                                    Documentation regarding the validation of the
                    of Meeting of the Board of Directors no later                                Minutes of Directors' Meeting has not been obtained
                    than 7 (seven) days after the meeting is                                     no later than 7 (seven) days after the meeting has
                    conducted.                                                                   been held.

          25.       Melaksanakan RUPS pengesahan Laporan               √           2023          RUPS pengesahan terhadap Laporan Tahunan sudah
                    Tahunan secara tepat waktu sesuai ketentuan,                                 dilaksanakan secara tepat waktu, yaitu dilaksanakan
                    yaitu paling lambat 6 (enam) bulan setelah                                   paling lambat 6 (enam) bulan setelah berakhirnya
                    berakhirnya tahun buku yang lampau.                                          tahun buku. Pelaksanaan RUPS Tahunan pada 28
                    Timely organization of the GMS to ratify the                                 Juni 2023.
                    Annual Report according to the provisions,                                   The GMS ratification of the Annual Report has
                    no later than 6 (six) months after the end of                                been carried out punctually, held no later than
                    the previous financial year.                                                 6 (six) months after the end of the financial year.
                                                                                                 Implementation of the Annual GMS on June 28,
                                                                                                 2023.




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                                                                               Tindak Lanjut Hingga Akhir Tahun 2023
               Rekomendasi Assessment Penerapan                                    Follow Up Status by End of 2023
                    GCG Tahun Buku 2022
   No.                                                                  Periode Tindak
               Recommendation of 2022 Financial Year           Status                                   Bentuk Tindak Lanjut
                 GCG Implementation Assessment                               Lanjut
                                                               Status                                     Follow Up Forms
                                                                        Follow Up Period

             Pengungkapan Informasi dan Transparansi
     V
             Information Disclosure and Transparency

     1       Disarankan untuk berpartisipasi dalam               √           2023          Pada Tahun 2023 PT Garuda Maintenance Facility
             Annual Report Award (ARA) dan/atau ajang                                      Aero Asia Tbk telah mengikuti Annual Report Award
             sejenis lainnya baik tingkat nasional maupun                                  (ARA).
             internasional, serta memperoleh penghargaan                                   In 2023, PT Garuda Maintenance Facility Aero Asia
             dari ajang tersebut.                                                          Tbk participated in the Annual Report Award (ARA).
             Suggested to participate in the Annual Report
             Award (ARA) and/or other events alike on
             national and international levels, and won
             an award.

     2       Berpartisipasi dan memperoleh penghargaan           √           2023          Tahun 2023 PT Garuda Maintenance Facility Aero
             dalam SR Award.                                                               Asia Tbk telah berpartisipasi dan memperoleh
             Participated in an SR Award and won an                                        penghargaan dalam SR Award dalam kategori bidang
             award.                                                                        Jasa & Perdagangan yang diselenggarakan oleh
                                                                                           Indonesia Green Company Award.
                                                                                           In 2023, PT Garuda Maintenance Facility Aero Asia
                                                                                           Tbk also participated and received an award in the
                                                                                           SR Award in the Services & Trade category organized
                                                                                           by the Indonesia Green Company Award.

             Aspek Lainnya
    VI
             Other Aspects

     1       Perusahaan memperoleh pencapaian kinerja            √           2023          Hingga September 2023, Perseroan membukukan
             keuangan terbaik di sektor usaha atau                                         pendapatan usaha sebesar USD235.11 juta atau 84%
             industrinya.                                                                  dari target sebesar USD280.88 juta.
             The company achieves the best financial                                       By September 2023, the Company recorded
             performance in its business sector or industry.                               operating revenues of USD 235.11 million, or 84% of
                                                                                           the targeted USD280.88 million.

     2       Menghindari penyimpangan prinsip-prinsip            √           2023          Terdapat teguran tuntutan maupun sanksi kepada
             Tata Kelola Perusahaan yaitu dengan                                           perusahaan oleh otoritas/instansi yang berwenang
             menghindari teguran tuntutan maupun sanksi                                    di bidang usaha Perseroan.
             kepada perusahaan oleh otoritas/instansi                                      There are warnings, demands, and sanctions against
             yang berwenang di bidang usaha perusahaan.                                    the Company by the authorities/agencies in charge
             Avoiding from deviate from the principles of                                  of the Company's business sector.
             Corporate Governance, avoiding any warning,
             demands or sanctions against the company
             by the authorities/agencies in charge of the
             company's business.


PENERAPAN ATAS PEDOMAN TATA KELOLA                                        COMPLIANCE WITH GUIDELINE OF
PERUSAHAAN TERBUKA: KESESUAIAN                                            GOVERNANCE FOR PUBLIC COMPANIES:
TERHADAP SEOJK NO. 32/SEOJK.04/2015                                       COMPLIANCE WITH SEOJK NO. 32/
                                                                          SEOJK.04/2015

GMF, sebagai perusahaan terbuka, telah melaksanakan seluruh               GMF, as a public company, has implemented all regulations
peraturan yang dikeluarkan OJK dan akan terus berupaya                    issued by OJK and will continue to strive for improvement
melakukan perbaikan untuk menciptakan nilai tambah bagi                   to create added value for shareholders and stakeholders. In
pemegang saham dan pemangku kepentingan. Khususnya                        particular, the guidelines for Public Company Governance are
terkait pedoman Tata Kelola Perusahaan Terbuka yang diatur                regulated under OJK Regulation No. 21/POJK.04/2015 dated
berdasarkan Peraturan OJK No. 21/POJK.04/2015 tanggal 16                  16 November 2015 on the Implementation of Public Company
November 2015 tentang Penerapan Pedoman Tata Kelola                       Governance Guidelines, which is elaborated in OJK Circular Letter
Perusahaan Terbuka, yang dijabarkan dalam Surat Edaran OJK                No. 32/SEOJK.04/2015 dated 17 November 2015 on Public
No. 32/SEOJK.04/2015 tanggal 17 November 2015 tentang                     Company Governance Guidelines. The guidelines, which contain
Pedoman Tata Kelola Perusahaan Terbuka. Pedoman tersebut,                 aspects, principles and recommendations of good corporate
yang memuat aspek, prinsip dan rekomendasi tata kelola                    governance, are useful to encourage the implementation of GCG
perusahaan yang baik, berguna untuk mendorong penerapan                   practices in accordance with exemplary international practices
praktik GCG sesuai dengan praktik internasional yang patut                for listed companies. The Company is obliged to implement



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                                                                                                                              Corporate Governance




      diteladani perusahaan terbuka. Perseroan wajib menerapkan              the guideline, and if it has not implemented it, the Company is
      pedoman tersebut, dan jika belum menerapkannya, Perseroan              obliged to explain the reasons for not implementing the guideline.
      wajib menjelaskan alasan tidak diterapkannya pedoman tersebut.         Disclosure of the implementation of the recommendations in
      Pengungkapan penerapan atas rekomendasi dalam pedoman                  the guidelines is submitted in the annual report of the public
      tersebut disampaikan dalam laporan tahunan perusahaan                  company.
      terbuka.

      Berdasarkan Surat Edaran OJK No. 32/SEOJK.04/2015 sebagai              Based on OJK Circular Letter No. 32/SEOJK.04/2015 as a
      standar penerapan GCG yang mencakup 5 (lima) aspek, 8                  standard of GCG implementation which includes 5 (five) aspects,
      (delapan) prinsip dan 25 (dua puluh lima) rekomendasi penerapan        8 (eight) principles and 25 (twenty-five) recommendations
      aspek dan prinsip GCG. Perseroan telah memenuhi 22 (dua                for implementing GCG aspects and principles. The Company
      puluh dua) rekomendasi. Rekomendasi ini merupakan standar              has fulfilled 22 (twenty two) recommendations. These
      penerapan aspek dan prinsip GCG yang harus diterapkan                  recommendations are the standards for the implementation
      Perseroan. Adapun rekomendasi yang belum memenuhi dan                  of GCG aspects and principles that must be implemented by the
      penerapannya di lingkup Perseroan adalah sebagai berikut:              Company. The recommendations that have not been fulfilled
                                                                             and their implementation within the scope of the Company
                                                                             are as follows:


                                    Kriteria                 Rekomendasi                     Penjelasan Penerapan di Perseroan
            No.
                                    Criteria                Recommendation             Explanation of Implementation within the Company

                         Hubungan Perusahaan Terbuka dengan Pemegang Saham dalam Menjamin Hak-Hak Pemegang Saham
              I.
                         Public Company’s relations with its Shareholders in ensuring their Rights

                         Prinsip 1 | Principle 1
                         Meningkatkan Nilai Penyelenggaraan RUPS
                         Increasing the Value of GMS

             1.1         Pe r u s a h a a n Te r b u ka                         Terpenuhi
                         memiliki cara atau prosedur                            Complied
                         te k n i s p e n g u m p u l a n
                         suara (voting) baik secara                             Para Pemegang Saham dapat mengemukakan pendapat dengan
                         terbuka maupun tertutup                                memberikan suara pada formulir yang diedarkan sebelum dimulainya
                         yang mengedepankan                                     RUPS. Dengan cara ini, Pemegang Saham dapat memberikan
                         independensi dan                                       persetujuan, penolakan atau abstain terhadap usulan keputusan
                         kepentingan Pemegang                                   yang diajukan oleh manajemen Perseroan.
                         Saham.                                                 Shareholders can exercise their right to speak by casting votes in
                         The Public Company                                     the form distributed to them before the commencement of GMS. In
                         establishes clear open or                              this manner, shareholders can exercise their voting rights by giving
                         closed voting methods or                               consent, expressing their objection or abstaining from voting to
                         procedures that uphold                                 resolutions proposed by the Company’s management.
                         the independence aspect
                         and prioritize the interests
                         of shareholders.

             1.2         Seluruh anggota Direksi dan                            Terpenuhi
                         anggota Dewan Komisaris                                Complied
                         Pe r u s a h a a n Te r b u ka
                         hadir dalam Rapat Umum                                 Pada umumnya, seluruh anggota Direksi dan Dewan Komisaris
                         Pemegang Saham (RUPS)                                  menghadiri RUPS Tahunan. Jika terdapat anggota yang tidak hadir,
                         Tahunan.                                               anggota tersebut akan mendelegasikan tugas kepada anggota lain/
                         All members of the Board                               orang lain yang menghadiri RUPS untuk mewakili dan menanggapi
                         of Directors and the Board                             pertanyaan yang diajukan oleh Pemegang Saham.
                         of Commissioners of the                                In general, all members of the Board of Directors and the Board
                         Public Company attend the                              of Commissioners attend the Annual GMS. Should any member
                         Annual General Meeting of                              be unable to attend, that member delegates their duties to other
                         Shareholders (Annual GMS).                             members attending the AGMS to represent and respond to questions
                                                                                that may be raised by the shareholders.




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                             Kriteria                Rekomendasi                        Penjelasan Penerapan di Perseroan
      No.
                             Criteria               Recommendation                Explanation of Implementation within the Company

       1.3        Ringkasan berita acara                                   Terpenuhi
                  RUPS tersedia dalam situs                                Complied
                  web Perusahaan Terbuka
                  paling sedikit selama 1 (satu)                           Berita acara RUPS (yang disajikan dalam Bahasa Indonesia dan
                  tahun.                                                   Inggris), baik itu RUPS Tahunan maupun RUPS Luar Biasa diumumkan
                  Minutes of GMS is made                                   pada situs web Perseroan dalam 2 (dua) hari kerja setelah RUPS, yang
                  available on the Public                                  dapat dilihat paling sedikit 1 (satu) tahun setelah RUPS.
                  Company’s website for at                                 Bilingual (Indonesian and English) minutes of GMS, either Annual
                  least one (1) year.                                      GMS or Extraordinary GMS, are posted on the Company’s website
                                                                           within 2 (two) working days after GMS, which can be accessed for
                                                                           at least 1 (one) year after GMS.

                  Prinsip 2 | Principle 2
                  Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.
                  Improving the Quality of Public Company’s Communications with Shareholders or investors.

       2.1        Perusahaan Terbuka harus                                 Terpenuhi
                  memiliki suatu kebijakan                                 Complied
                  komunikasi terbuka dengan
                  Pemegang Saham atau                                      Kebijakan komunikasi Perseroan dengan investor yang menggunakan
                  investor.                                                beberapa platform media bertujuan untuk menginformasikan para
                  The Public Company                                       Pemegang Saham tentang perkembangan relevan yang terjadi di
                  establishes an open                                      Perseroan. Pembaruan informasi seperti laporan keuangan triwulanan
                  communication policy with                                dan tahunan, tindakan korporasi, dan hal-hal lain diungkapkan melalui
                  shareholders or investors.                               siaran pers, penerbitan di surat kabar nasional, dan publikasi di situs
                                                                           web Perseroan, bersama dengan pengumuman yang muncul di situs
                                                                           web Bursa Efek Indonesia.
                                                                           The Company’s investor communication policy utilizes multiple media
                                                                           platforms to notify shareholders about relevant developments taking
                                                                           place in the Company. Updates of information, such as quarterly and
                                                                           annual financial statements, corporate action(s) and/or other matters,
                                                                           are disclosed through Press Releases, publications in newspapers
                                                                           with national coverage and posting on the Company’s website, along
                                                                           with announcement on the Indonesia Stock Exchange’s website.

      2.2         Pe r u s a h a a n Te r b u ka                           Terpenuhi
                  mengungkapkan kebijakan                                  Complied
                  komunikasi Perusahaan
                  Terbuka dengan Pemegang                                  Perseroan mematuhi rekomendasi tersebut dalam website resmi
                  Saham atau investor dalam                                melalui menu Investor Relations.
                  situs web.                                               The Company is in compliance with the recommended procedure
                  The Public Company                                       on the official website through the Investor Relations menu.
                  discloses its web-based
                  communication policy with
                  shareholders or investors.

                  Fungsi dan Peran Dewan Komisaris
       II.
                  Functions and Roles of the Board of Commissioners

                  Prinsip 3 | Principle 3
                  Memperkuat Keanggotaan dan Komposisi Dewan Komisaris
                  Strengthening the membership and composition of the Board of Commissioners

       3.1        Penentuan jumlah                                         Terpenuhi
                  anggota Dewan Komisaris                                  Complied
                  mempertimbangkan kondisi
                  Perusahaan Terbuka.                                      Penentuan jumlah anggota Dewan Komisaris mempertimbangkan
                  To ta l m e m b e r s o f t h e                          kondisi Perusahaan Terbuka dan mengacu pada POJK 33/
                  Board of Commissioners is                                POJK.04/2014 tentang Jumlah Anggota Direksi dan Dewan Komisaris
                  determined based on the                                  Emiten atau Perusahaan Publik.
                  Public Company’s condition.                              The decision to determine the total members of the Board of
                                                                           Commissioners is taken in accordance with the Financial Services
                                                                           Authority’s Regulation (POJK) 33/POJK.04/2014 regarding the Board
                                                                           of Directors and the Board of Commissioners of Issuers or Public
                                                                           Companies.




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                                   Kriteria                  Rekomendasi                           Penjelasan Penerapan di Perseroan
            No.
                                   Criteria                 Recommendation                   Explanation of Implementation within the Company

             3.2         Penentuan komposisi                                          Terpenuhi
                         anggota          Dewan                                       Complied
                         Komisaris memperhatikan
                         keberagaman latar                                            Komposisi anggota Dewan Komisaris memperhatikan usulan
                         belakang berdasarkan                                         rekomendasi tersebut sebagaimana yang telah diungkapkan pada
                         keahlian, pengetahuan,                                       bagian Komposisi Profil Dewan Komisaris di dalam Laporan Tahunan
                         dan pengalaman yang                                          ini.
                         dibutuhkan.                                                  The composition of the Company’s Board of Commissioners
                         The composition of the                                       adequately meets the proposed recommendation, as can be seen
                         Board of Commissioners                                       from the profile of the Board of Commissioners in this Annual Report.
                         takes into consideration
                         the diverse backgrounds
                         of its members while
                         ensuring that they possess
                         the necessary knowledge,
                         expertise and experience
                         to effectively discharge
                         their duties.

                         Prinsip 4 | Principle 4
                         Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris
                         Improving the Quality of the Board of Commissioners’ Execution of Duties and Responsibilities

             4.1         Dewan        Komisaris                                       Terpenuhi
                         mempunyai kebijakan                                          Complied
                         penilaian sendiri (self-
                         assessment) untuk menilai                                    Dewan Komisaris telah memiliki kebijakan penilaian sendiri (self-
                         kinerja Dewan Komisaris.                                     assessment) untuk menilai kinerja Dewan Komisaris yang tercantum
                         The Board of Commissioners                                   dalam Pedoman Dewan Komisaris.
                         has their Self-Assessment
                         policy to evaluate their                                     Dalam Pedoman Dewan Komisaris Bagian 4 tentang Rapat Dewan
                         performance.                                                 Komisaris, Angka 4.5 tentang Penilaian Kinerja Dewan Komisaris.
                                                                                      Dewan Komisaris melakukan sendiri pengukuran dan penilaian
                                                                                      kinerja dengan ketentuan sebagai berikut:
                                                                                      1. Dewan Komisaris memiliki kebijakan mengenai pengukuran dan
                                                                                          penilaian terhadap kinerja Dewan Komisaris;
                                                                                      2. Dewan Komisaris memiliki/menetapkan Indikator Pencapaian
                                                                                          Kinerja beserta targetnya dan disetujui oleh RUPS setiap tahun
                                                                                          berdasarkan usulan dari Dewan Komisaris yang bersangkutan;
                                                                                      3. Dewan Komisaris atau Komite Nominasi dan Remunerasi
                                                                                          mengevaluasi pencapaian Kinerja masing-masing anggota
                                                                                          Dewan Komisaris dan dituangkan dalam risalah rapat Dewan
                                                                                          Komisaris
                                                                                      4. Penilaian kinerja Dewan Komisaris dilaporkan dalam laporan
                                                                                          pelaksanaan tugas pengawasan Dewan Komisaris.

                                                                                      The Board of Commissioners has a self-assessment policy to evaluate
                                                                                      its performance, as stated in the Board of Commissioners Guidelines.

                                                                                      In Part 4 of the Board of Commissioners Guidelines, regarding Board
                                                                                      of Commissioners Meetings, specifically in section 4.5 concerning
                                                                                      Assessment of the Board of Commissioners, the Board carries out
                                                                                      its own performance measurements and assessments with the
                                                                                      following provisions:
                                                                                      1. The Board of Commissioners establishes a policy regarding the
                                                                                           measurement and assessment of its performance.
                                                                                      2. The Board of Commissioners establishes or determines
                                                                                           Achievement Indicators and their targets, which are approved
                                                                                           by the GMS every year based on proposals from the Board of
                                                                                           Commissioners.
                                                                                      3. The Board of Commissioners or the Nomination and
                                                                                           Remuneration Committee evaluates the performance of each
                                                                                           member of the Board of Commissioners, and this evaluation
                                                                                           is documented in the minutes of the Board of Commissioners
                                                                                           meetings.
                                                                                      4. The assessment of the Board of Commissioners is reported in the
                                                                                           report on the implementation of the Board of Commissioners’
                                                                                           supervisory duties.




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                            Kriteria             Rekomendasi                  Penjelasan Penerapan di Perseroan
      No.
                            Criteria            Recommendation          Explanation of Implementation within the Company

      4.2         Kebijakan penilaian sendiri                    Terpenuhi
                  (self-assessment) untuk                        Complied
                  menilai kinerja Dewan
                  Komisaris diungkapkan                          Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja
                  melalui Laporan Tahunan                        Dewan Komisaris yang tercantum dalam Pedoman Dewan Komisaris
                  Perusahaan Terbuka.                            telah diungkapkan dalam Laporan Terintegrasi Perusahaan.
                  The Board of Commissioners’
                  Self-Assessment Policy                         Laporan Laporan Terintegrasi Perusahaan Tahun 2022 telah
                  is disclosed in the Public                     mengungkapkan Muatan Pedoman Dewan Komisaris, salah satunya
                  Company’s Annual Report.                       Mekanisme Rapat Dewan Komisaris, termasuk di dalamnya mengatur
                                                                 Penilaian kinerja Dewan Komisaris dan Direksi. Dalam Laporan
                                                                 Laporan Terintegrasi juga diungkapkan terkait Penilaian Kinerja
                                                                 Dewan Komisaris yang didasarkan pada Key Performance Indicator.

                                                                 Selain itu Pedoman Dewan Komisaris yang memuat Kebijakan
                                                                 terkait penilaian sendiri (self-assessment) Dewan Komisaris telah
                                                                 diungkapkan dalam website Perusahaan.

                                                                 The self-assessment policy for evaluating the performance of the
                                                                 Board of Commissioners, as stated in the Board of Commissioners
                                                                 Guidelines, has been disclosed in the Company’s Integrated Report.

                                                                 The Company’s 2022 Integrated Report has revealed the contents of
                                                                 the Board of Commissioners Guidelines, including the mechanism for
                                                                 Board of Commissioners Meetings, which regulates the assessment
                                                                 of the Board of Commissioners and Directors. In the Integrated
                                                                 Report, the Assessment of the Board of Commissioners has also
                                                                 been disclosed, which is based on Key Performance Indicators.

                                                                 Additionally, the Board of Commissioners Guidelines, which contain
                                                                 policies related to the Board of Commissioners’ self-assessment,
                                                                 have been disclosed on the Company’s website.

      4.3         Dewan        Komisaris                         Terpenuhi
                  mempunyai kebijakan terkait                    Complied
                  pengunduran diri anggota
                  Dewan Komisaris apabila                        Dewan Komisaris mempunyai kebijakan terkait pengunduran diri
                  terlibat dalam kejahatan                       anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan
                  keuangan.                                      yang tercantum dalam Pedoman Dewan Komisaris bagian 3.3 tentang
                  The Board of Commissioners                     Pengunduran Diri anggota Dewan Komisaris, yang menyatakan
                  has a policy requiring                         Dewan Komisaris yang telah terbukti terlibat dalam kejahatan
                  them to step down from                         keuangan melalui penetapan status terpidana dari pihak yang
                  their position(s) upon                         berwenang, wajib mengundurkan diri dari jabatannya.
                  any evidence of their
                  involvement in financial                       Adapun kejahatan keuangan yang dimaksud seperti manipulasi dan
                  crimes.                                        berbagai bentuk penggelapan dalam kegiatan jasa keuangan serta
                                                                 Tindakan Pidana Pencucian Uang sebagaimana dimaksud dalam
                                                                 Undang-Undang Nomor 8 Tahun 2010 tentang Pencegahan dan
                                                                 Pemberantasan Tindak Pidana Pencucuian Uang.

                                                                 The Board of Commissioners has a policy regarding the resignation of
                                                                 members if they are involved in financial crimes, as stated in section
                                                                 3.3 of the Board of Commissioners Guidelines, which stated that
                                                                 members who have been proven to be involved in financial crimes,
                                                                 as determined by a conviction from an authorized party, are obliged
                                                                 to resign from their positions.

                                                                 The financial crimes referred to include manipulation and various
                                                                 forms of embezzlement in financial services activities, as well as
                                                                 criminal acts of money laundering as specified in Law Number 8 of
                                                                 2010 concerning Prevention and Eradication of the Crime of Money
                                                                 Laundering..




PT Garuda Maintenance Facility Aero Asia Tbk                                                Laporan Terintegrasi 2023 Integrated Report
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210                                                                                                                                     Tata Kelola Perusahaan
                                                                                                                                         Corporate Governance




                                   Kriteria                  Rekomendasi                                Penjelasan Penerapan di Perseroan
            No.
                                   Criteria                 Recommendation                        Explanation of Implementation within the Company

             4.4         Dewan Komisaris atau         Komite Nominasi dan                  Belum Terpenuhi
                         Komite yang menjalankan      Remunerasi menyusun                  Uncomplied
                         fungsi nominasi dan          kebijakan dan kriteria yang
                         remunerasi harus menyusun    dibutuhkan dalam proses              Dewan Komisaris telah membentuk Komite yang menjalankan fungsi
                         kebijakan suksesi dalam      Nominasi (kebijakan suksesi)         nominasi dan remunerasi, yaitu Komite Nominasi dan Remunerasi
                         proses nominasi anggota      calon anggota Direksi                berdasarkan Surat Keputusan Dewan Komisaris PT GMF AeroAsia No.
                         Direksi.                     sebagaimana diatur dalam             DEKOM GMF/SKEP/5003/23 tanggal 5 Juli 2023 tentang Perubahan
                         The Board of Commissioners   Piagam Komite Nominasi               Komite Nominasi dan Remunerasi PT Garuda Maintenance Facility
                         or the Committee in          dan Remunerasi PT Garuda             Aero Asia Tbk.
                         charge of nomination and     Maintenance Facility Aero
                         remuneration functions       Asia Tbk                             Komite Nominasi dan Remunerasi telah memiliki Piagam Komite
                         establishes a succession     The Nomination and                   Nominasi dan Remunerasi PT Garuda Maintenance Facility Aero
                         policy to nominate members   Remuneration Committee               Asia yang didalamnya memuat terkait Tugas dan Tanggung Jawab
                         of the Board of Directors.   develops policies and criteria       khususnya terkait fungsi Nominasi dimana Komite Nominasi dan
                                                      required in the Nomination           Remunerasi dalam menjalankan fungsi Nominasi wajib melakukan
                                                      process (succession policy)          prosedur salah satunya Menyusun kebijakan dan kriteria yang
                                                      for candidates for the Board         dibutuhkan dalam proses Nominasi calon anggota Direksi dan/atau
                                                      of Directors as stipulated           anggota Dewan Komisaris. Selain itu diuraikan juga terkait Prosedur
                                                      i n t h e N o m i n at i o n a n d   Kerja terkait Penetapan Nominasi calon anggota Direksi dan/atau
                                                      Remuneration Committee               anggota Dewan Komisaris Dimana proses seleksi kandidat calon
                                                      Charter of PT Garuda                 anggota Direksi dan/atau anggota Dewan Komisaris meliputi Analisa
                                                      Maintenance Facility Aero            rekam jejak, wawancara, Fit & Proper Test oleh Independent Assessor.
                                                      Asia Tbk.
                                                                                           Dalam Laporan Tahunan Perusahaan terkait Kebijakan Suksesi
                                                                                           Direksi dijelaskan bahwa Perseroan memiliki kebijakan suksesi
                                                                                           Direksi untuk memastikan adanya kaderisasi kepemimpinan yang
                                                                                           berorientasi pada kinerja untuk mengembangkan usaha GMF. Direksi
                                                                                           yang ditunjuk harus lulus Penilaian Kelayakan dan Kepatutan (Fit &
                                                                                           Proper Test) sesuai dengan peraturan perundang-undangan yang
                                                                                           berlaku. Pengangkatan calon Direksi Perseroan berpegangan kepada
                                                                                           Peraturan Menteri Negara Badan Usaha Milik Negara No. PER-03/
                                                                                           MBU/03/2023 tentang Organ dan Sumber Daya Manusia Badan
                                                                                           Usaha Milik Negara.

                                                                                           Penjelasan Belum Dilaksanakan:
                                                                                           Sebagaimana diatur dalam Piagam Komite Nominasi dan Remunerasi
                                                                                           PT Garuda Maintenance Facility Aero Asia terkait Tugas dan
                                                                                           Tanggung Jawab khususnya terkait fungsi Nominasi bahwa Komite
                                                                                           Nominasi dan Remunerasi dalam menjalankan fungsi Nominasi wajib
                                                                                           melakukan prosedur salah satunya menyusun kebijakan dan kriteria
                                                                                           yang dibutuhkan dalam proses Nominasi calon anggota Direksi dan/
                                                                                           atau anggota Dewan Komisaris. Namun demikian belum diperoleh
                                                                                           dokumentasi bahwa Komite Nominasi dan Remunerasi menyusun
                                                                                           kebijakan dan kriteria yang dibutuhkan dalam proses Nominasi
                                                                                           (kebijakan suksesi) calon anggota Direksi dan/atau anggota Dewan
                                                                                           Komisaris.




      Laporan Terintegrasi 2023 Integrated Report                                                                   PT Garuda Maintenance Facility Aero Asia Tbk
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                                                                                                                                                        211



                            Kriteria                  Rekomendasi                         Penjelasan Penerapan di Perseroan
      No.
                            Criteria                 Recommendation                 Explanation of Implementation within the Company

                                                                             The Board of Commissioners has established a Committee that
                                                                             carries out the nomination and remuneration function, namely the
                                                                             Nomination and Remuneration Committee based on the Decree
                                                                             of the Board of Commissioners of PT GMF AeroAsia No. DEKOM
                                                                             GMF/SKEP/5003/23 dated 5 July 2023 concerning Changes
                                                                             in the Nomination and Remuneration Committee of PT Garuda
                                                                             Maintenance Facility Aero Asia Tbk.

                                                                             The Nomination and Remuneration Committee has a PT Garuda
                                                                             Maintenance Facility Aero Asia Nomination and Remuneration
                                                                             Committee Charter which contains the Duties and Responsibilities,
                                                                             especially related to the Nomination function where the Nomination
                                                                             and Remuneration Committee in carrying out the Nomination
                                                                             function must carry out procedures, one of which is to develop
                                                                             policies and criteria required in the Nomination process for candidates
                                                                             for members of the Board of Directors and / or members of the Board
                                                                             of Commissioners. In addition, it is also described related to Work
                                                                             Procedures related to the Determination of Nomination of candidates
                                                                             for members of the Board of Directors and / or members of the Board
                                                                             of Commissioners where the selection process for candidates for
                                                                             members of the Board of Directors and / or members of the Board
                                                                             of Commissioners includes track record analysis, interviews, Fit &
                                                                             Proper Test by Independent Assessor.

                                                                             In the Company’s Annual Report related to the Board of Directors
                                                                             Succession Policy, it is explained that the Company has a Board
                                                                             of Directors succession policy to ensure performance-oriented
                                                                             leadership regeneration to develop GMF’s business. The appointed
                                                                             Directors must pass the Fit & Proper Test in accordance with the
                                                                             prevailing laws and regulations. The appointment of candidates for
                                                                             the Company’s Board of Directors adheres to the Regulation of the
                                                                             Minister of State-Owned Enterprises No. PER-03/MBU/03/2023 on
                                                                             Organs and Human Resources of State-Owned Enterprises.

                                                                             Explanation Has Not Been Implemented:
                                                                             As stipulated in the Charter of the Nomination and Remuneration
                                                                             Committee of PT Garuda Maintenance Facility Aero Asia related to
                                                                             Duties and Responsibilities, especially related to the Nomination
                                                                             function, the Nomination and Remuneration Committee in
                                                                             carrying out the Nomination function must carry out procedures,
                                                                             one of which is to develop policies and criteria required in the
                                                                             Nomination process for candidates for members of the Board of
                                                                             Directors and / or members of the Board of Commissioners. However,
                                                                             documentation has not been obtained that the Nomination and
                                                                             Remuneration Committee has developed policies and criteria
                                                                             required in the Nomination process (succession policy) for candidates
                                                                             for members of the Board of Directors and / or members of the Board
                                                                             of Commissioners.

                  Fungsi dan Peran Direksi
      III.
                  Board of Directors’ Functions and Roles

                  Prinsip 5 | Principle 5
                  Memperkuat Keanggotaan dan Komposisi Direksi
                  Strengthening the membership and composition of the Board of Directors

      5.1         Penentuan jumlah anggota                                   Terpenuhi
                  Direksi ditetapkan setelah                                 Complied
                  mempertimbangkan
                  kondisi Perusahaan Terbuka                                 Komposisi anggota Direksi mengacu pada POJK 33/POJK.04/2014
                  serta efektivitas dalam                                    tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.
                  pengambilan keputusan.                                     The composition of the Board of Directors is in accordance with the
                  Total members of the Board                                 Financial Services Authority’s Regulation POJK 33/POJK.04/2014
                  of Directors is determined                                 regarding the Board of Directors and Board of Commissioners of
                  after duly considering their                               Issuers or Public Companies.
                  effectiveness in decision-
                  making as well as the Public
                  Company’s condition.




PT Garuda Maintenance Facility Aero Asia Tbk                                                             Laporan Terintegrasi 2023 Integrated Report
Page 212
212                                                                                                                                    Tata Kelola Perusahaan
                                                                                                                                        Corporate Governance




                                   Kriteria                   Rekomendasi                            Penjelasan Penerapan di Perseroan
            No.
                                   Criteria                  Recommendation                    Explanation of Implementation within the Company

             5.2         Penentuan komposisi                                            Terpenuhi
                         anggota          Direksi                                       Complied
                         memperhatikan,
                         keberagaman latar                                              Komposisi anggota Direksi telah sesuai dengan rekomendasi,
                         belakang yang berdasarkan                                      sebagaimana dapat dilihat pada bagian Profil Anggota Direksi di
                         keahlian, pengetahuan,                                         dalam Laporan Tahunan ini.
                         dan pengalaman yang                                            The composition of the Company’s Board of Directors adheres to
                         dibutuhkan dalam tugasnya.                                     these recommendations as can be seen from the profile of Board
                         The composition of the                                         of Directors in this Annual Report.
                         Board of Directors takes
                         into consideration diverse
                         backgrounds of its members
                         while ensuring that they
                         possess the necessary
                         knowledge, expertise and
                         experience to effectively
                         discharge their duties.

             5.3         Anggota Direksi yang                                           Terpenuhi
                         membawahi bidang                                               Complied
                         akuntansi atau keuangan
                         harus memiliki keahlian dan/                                   Anggota Direksi yang membawahi bidang akuntansi atau keuangan
                         atau pengetahuan di bidang                                     harus memiliki keahlian dan/atau pengetahuan di bidang akuntansi.
                         akuntansi.                                                     Kualifikasi dan kredensial mereka telah dicantumkan pada bagian
                         The members of the Board                                       Profil Direksi di dalam Laporan Terintegrasi ini.
                         of Directors overseeing
                         accounting or finance                                          The Company has on the Board of Directors well-qualified
                         have the expertise and                                         professionals for overseeing the finance & accounting function. Their
                         knowledge in the field of                                      qualifications and credentials have been mentioned in the profile
                         accounting.                                                    of the Board of Directors in this Integrated Report.

                         Prinsip 6 | Principle 6
                         Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi
                         Improving the Quality of the Board of Directors’ Execution of Duties and Responsibilities

             6.1         Direksi mempunyai                                              Terpenuhi
                         kebijakan penilaian sendiri                                    Complied
                         (self-assessment) untuk
                         menilai kinerja Direksi.                                       Evaluasi kinerja Direksi berdasarkan Key Performance Indicator.
                         The Board of Directors                                         Anggota Direksi dapat melakukan self-assessment untuk mengukur
                         has their self-assessment                                      sejauh mana Direksi telah memenuhi KPI yang ditentukan dan
                         policy to evaluate their                                       ditetapkan pada awal setiap tahun.
                         performance.                                                   The evaluation of the Board of Director’s performance is based on
                                                                                        Key Performance Indicators set out at the onset of every year. The
                                                                                        members of the Board of Directors can conduct self-assessment on
                                                                                        the extent to which those pre-determined KPIs were met.

             6.2         Kebijakan penilaian sendiri                                    Terpenuhi
                         (self-assessment) untuk                                        Complied
                         menilai kinerja Direksi dan
                         diungkapkan melalui laporan                                    Laporan penilaian sendiri (self-assessment) kinerja Direksi Perseroan
                         tahunan Perusahaan                                             dilaporkan dalam Laporan Terintegrasi.
                         Terbuka.                                                       The self-assessment report of the Company’s Board of Director’s
                         The evaluation of the Board                                    performance has been disclosed in the Integrated Report.
                         of Directors’ performance
                         based on their Self-
                         Assessment Policy is made
                         a policy and disclosed in the
                         Public Company’s Annual
                         Report.




      Laporan Terintegrasi 2023 Integrated Report                                                                   PT Garuda Maintenance Facility Aero Asia Tbk
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                            Kriteria                     Rekomendasi                           Penjelasan Penerapan di Perseroan
      No.
                            Criteria                    Recommendation                   Explanation of Implementation within the Company

      6.3         Direksi harus mempunyai                                         Terpenuhi
                  kebijakan            terkait                                    Complied
                  pengunduran diri anggota
                  Direksi apabila terlibat dalam                                  Kode Etik Perseroan menekankan pada integritas dan tidak
                  kejahatan keuangan.                                             mentoleransi adanya perilaku yang tidak etis. Apabila Direksi
                  The Board of Directors has a                                    Perseroan terlibat dalam penipuan, baik yang terkait dengan
                  policy requiring them to step                                   Perseroan atau tempat lain, ia segera diberhentikan dari posisinya
                  down from their position(s)                                     disertai alasan yang jelas atas pemecatan tersebut. Ia juga dapat
                  upon any evidence of their                                      diminta untuk mengundurkan diri setelah surat pengunduran diri
                  involvement in financial                                        dikirimkan. Namun hingga saat ini, tidak pernah terjadi kejadian
                  crimes.                                                         tersebut.
                                                                                  The Company’s Code of Conduct emphasises on integrity and does
                                                                                  not tolerate any unethical behaviour. If in the unfortunate event of
                                                                                  the Company’s Board of Directors being implicated in any fraudulent
                                                                                  activity, either related to the Company or elsewhere, the concerned
                                                                                  individual will be immediately dismissed from the position, clearly
                                                                                  stating the reason for dismissal from the Board. Other than that, the
                                                                                  guilty individual may be required to leave the Company by duly
                                                                                  submitting a resignation letter. However, to date, no such incidence
                                                                                  has ever taken place.

                  Keterlibatan Pemangku Kepentingan
      IV.
                  Stakeholder Engagement

                  Prinsip 7 | Principle 7
                  Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan
                  Strengthening the Corporate Governance Aspects through Stakeholder Participation

       7.1        Pe r u s a h a a n Te r b u ka   Menyusun kebijakan untuk       Belum Terpenuhi
                  memiliki kebijakan untuk         mencegah terjadinya insider
                  mencegah terjadinya insider      trading, yaitu larangan bagi   Perusahaan memiliki kebijakan untuk mencegah terjadinya
                  trading.                         seseorang yang mempunyai       insider trading yaitu terdapat dalam Pedoman Perilaku PT Garuda
                  The Public Company has           informasi orang dalam          Maintenance Facility Aero Asia Tbk tanggal 18 Agustus 2021 bagian
                  a policy to prevent insider      untuk melakukan suatu          Etika Kerja poin 8 tentang Menjaga Rahasia Perusahaan dan Perilaku
                  trading.                         transaksi Efek dengan          Insiders yang menyebutkan:
                                                   menggunakan informasi
                                                   orang dalam sebagaimana        1. Insan GMF yang memiliki informasi rahasia tidak diperkenankan
                                                   dimaksud dalam Undang-            menggunakan informasi tersebut untuk mengambil keuntungan
                                                   Undang Nomor 8 Tahun 1995         bagi dirinya sendiri,keluarganya, atau pihak ketiga lainnya dengan:
                                                   tentang Pasar Modal beserta        a. Mempengaruhi customer atau individu atau institusi dalam
                                                   dengan Peraturan-peraturan             melakukan transaksi dengan Perusahaan;
                                                   Pelaksanaannya.                    b. Menyebarluaskan informasi tersebut kepada customer atau
                                                                                          individu atau institusi
                                                                                  2. Insan GMF dilarang menggunakan informasi internal untuk
                                                                                     melakukan pembelian atau memperdagangkan sekuritas, kecuali
                                                                                     jika informasi tersebut telah diketahui oleh public secara luas
                                                                                  3. Insan GMF dilarang menyalahgunakan posisinya dan mengambil
                                                                                     keuntungan baik langsung maupun tidak langsung bagi dirinya
                                                                                     sendiri, anggota keluarganya ataupun pihak-pihak lainnya dan/
                                                                                     atau mempengaruhi proses keputusan yang berhubungan
                                                                                     dengan dirinya.
                                                                                  4. Pengambilan keputusan untuk menjual atau membeli
                                                                                     asset perseroan serta jasa lainnya harus dilakukan dengan
                                                                                     mengutamakan kepentingan Perseroan tanpa dipengaruhi
                                                                                     oleh Insiders.

                                                                                  Penjelasan Belum dilaksanakan:
                                                                                  Perusahaan belum Menyusun kebijakan khusus untuk mencegah
                                                                                  terjadinya insider trading secara spesifik yang mengacu pada
                                                                                  ketentuan dalam Undang-Undang Nomor 8 Tahun 1995 tentang
                                                                                  Pasar Modal




PT Garuda Maintenance Facility Aero Asia Tbk                                                                 Laporan Terintegrasi 2023 Integrated Report
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214                                                                                                                 Tata Kelola Perusahaan
                                                                                                                     Corporate Governance




                                   Kriteria            Rekomendasi                  Penjelasan Penerapan di Perseroan
            No.
                                   Criteria           Recommendation          Explanation of Implementation within the Company

                                                                       Uncomplied

                                                                       The Company has a policy to prevent insider trading, which is
                                                                       contained in the Code of Conduct of PT Garuda Maintenance Facility
                                                                       Aero Asia Tbk dated 18 August 2021 in the Work Ethics section point
                                                                       8 on Maintaining Company Secrets and Insiders’ Behaviour which
                                                                       states:

                                                                       1. GMF personnel who possess confidential information are
                                                                          not allowed to use such information to take advantage for
                                                                          themselves, their families, or other third parties by:
                                                                          a. Influencing customers or individuals or institutions in
                                                                              conducting transactions with the Company;
                                                                          b. Disseminating the information to customers or individuals
                                                                              or institutions.
                                                                       2. GMF personnel are prohibited from using internal information
                                                                          to purchase or trade securities, unless the information has been
                                                                          widely known by the public.
                                                                       3. GMF personnel are prohibited from abusing their position and
                                                                          taking advantage directly or indirectly for themselves, their
                                                                          family members or other parties and/or influencing the decision
                                                                          process related to them.
                                                                       4. Decision making to sell or buy the company’s assets and other
                                                                          services must be done by prioritising the interests of the
                                                                          Company without being influenced by Insiders.

                                                                       Explanation Not yet implemented:
                                                                       The Company has not yet developed a special policy to prevent
                                                                       insider trading specifically referring to the provisions in Law No. 8
                                                                       of 1995 on Capital Market.




      Laporan Terintegrasi 2023 Integrated Report                                                PT Garuda Maintenance Facility Aero Asia Tbk
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                            Kriteria                      Rekomendasi                               Penjelasan Penerapan di Perseroan
      No.
                            Criteria                     Recommendation                       Explanation of Implementation within the Company

      7.2         Perusahaan Terbuka memiliki      Menyusun kebijakan anti             Terpenuhi
                  kebijakan antikorupsi dan        korupsi dan anti fraud              Complied
                  antikecurangan.                  (Sistem Manajemen
                  The Public Company has           Anti Penyuapan) secara              Perusahaan memiliki kebijakan Anti Fraud dan Anti Korupsi, antara
                  an anti-corruption and anti-     khusus yang dimaksudkan             lain:
                  fraud policy.                    untuk mencegah adanya               1. Keputusan Direksi Nomor: DT/SKEP-5018/20 tanggal 9 Oktober
                                                   tindakan penyimpangan                   2020 tentang Pengendalian Gratifikasi di lingkungan PT Garuda
                                                   atau pembiaran yang                     Maintenance Facility Aero Asia. Tujuan Pedoman ini yaitu
                                                   sengaja dilakukan untuk                 memberikan panduan yang jelas bagi seluruh Insan GMF dalam
                                                   mengelabui, menipu, atau                hal penerimaan gratifikasi dan pelaporannya, sehingga Insan
                                                   memanipulasi Perusahaan                 GMF terhindar dari benturan kepentingan (conflict of interest)
                                                   atau pihak lain, yang terjadi           yang dapat merugikan diri sendiri, Perusahaan dan Masyarakat.
                                                   di lingkungan Perusahaan            2. Pedoman Perilaku Perusahaan bagian A tentang Etika Bisnis sub
                                                   sehingga mengakibatkan                  bagian 2 yang membahas mengenai penerimaan hadiah, suap
                                                   Perusahaan atau pihak lain              dan gratifikasi. Dalam ketentuan tersebut, menjelaskan mengenai
                                                   menderita kerugian dan/atau             larangan kepada Insan GMF untuk tidak melakukan gratifikasi.
                                                   pelaku fraud memperoleh
                                                   keuntungan keuangan, baik           Perjanjian Kerja Bersama Periode 2019-2021 Bab V Ketentuan Disiplin
                                                   secara langsung maupun              Karyawan/Pegawai. Pasal 31 Jenis Pelanggaran Berat salah satunya
                                                   tidak langsung.                     yaitu menerima hadiah atau sesuatu pemberian lainnya dari siapapun
                                                   Develop an anti-corruption          juga yang diketahui bahwa pemberian itu berkaitan dengan jabatan
                                                   and anti-fraud policy (Anti-        atau pekerjaan Karyawan/Pegawai yang bersangkutan yang dapat
                                                   bribery Management System)          merugikan Perusahaan.
                                                   specifically intended to
                                                   prevent any act of deviation        The Company has Anti Fraud and Anti Corruption policies, among
                                                   or omission that is deliberately    others:
                                                   carried out to deceive, cheat,      1. Decree of the Board of Directors Number: DT/SKEP-5018/20
                                                   or manipulate the Company              dated 9 October 2020 concerning Gratification Control within
                                                   or other parties, which occurs         PT Garuda Maintenance Facility Aero Asia. The purpose of this
                                                   within the Company so as to            Guideline is to provide clear guidelines for all GMF Personnel in
                                                   cause the Company or other             terms of receiving gratuities and reporting them, so that GMF
                                                   parties to suffer losses and / or      Personnel avoid conflicts of interest that can harm themselves,
                                                   fraudsters to obtain financial         the Company and the Community.
                                                   benefits, either directly or        2. The Company's Code of Conduct section A on Business Ethics
                                                   indirectly.                            sub section 2 which discusses the acceptance of gifts, bribes
                                                                                          and gratuities. In this provision, it explains the prohibition for
                                                                                          GMF personnel not to take gratuities.

                                                                                       Collective Labour Agreement 2019-2021 Period Chapter V
                                                                                       Disciplinary Provisions for Employees. Article 31 Types of Serious
                                                                                       Offences, one of which is accepting gifts or other gifts from anyone
                                                                                       who knows that the gift is related to the position or work of the
                                                                                       Employee / Employee concerned which can harm the Company.

      7.3         Pe r u s a h a a n Te r b u ka                                       Terpenuhi
                  harus sudah menetapkan                                               Complied
                  kebijakan tentang pemilahan
                  pemasok atau vendor untuk                                            Kebijakan Perseroan bertujuan untuk meneliti dengan baik
                  peningkatan kemampuan                                                kemampuan pemasok/vendor yang prospektif untuk mengirimkan
                  Perseroan.                                                           barang yang dipesan, menyediakan layanan pelanggan yang
                  The Public Company has                                               baik, dan menawarkan harga yang kompetitif sesuai dengan
                  established a policy for                                             kualitas produk. Proposal dari setidaknya 3 (tiga) vendor akan
                  the selection of suppliers                                           dipertimbangkan oleh Perusahaan sebelum membuat keputusan
                  or vendors to improve                                                pembelian.
                  the Company’s sourcing                                               The Company’s policy aims to properly scrutinize the prospective
                  capabilities.                                                        supplier’s/vendor’s capability to deliver goods ordered, as well as
                                                                                       providing good customer service and offering competitive prices in
                                                                                       line with the product quality. Proposals from at least 3 vendors will
                                                                                       be considered before making purchase decisions.

      7.4         Perusahaan Publik harus                                              Terpenuhi
                  memiliki ketentuan tentang                                           Complied
                  pemenuhan hak-hak
                  kreditur.                                                            Kebijakan tentang pemenuhan hak-hak kreditur tercantum dalam
                  Public Company has a                                                 Kode Etik Perseroan.
                  provision on the fulfillment                                         The policy on the fulfillment of creditor rights is specified in the
                  of creditor’s rights.                                                Company’s Code of Conduct.




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                                                                                                                         Corporate Governance




                                   Kriteria                Rekomendasi                  Penjelasan Penerapan di Perseroan
              No.
                                   Criteria               Recommendation          Explanation of Implementation within the Company

              7.5        Pe r u s a h a a n Te r b u ka                    Terpenuhi
                         memiliki kebijakan sistem                         Complied
                         whistleblowing.
                         The Public Company has                            Kebijakan tentang Whistleblowing System tercantum dalam Kode
                         a whistleblowing system                           Etik Perseroan.
                         policy.                                           The whistleblowing system is covered in the Company’s Code of
                                                                           Conduct.

              7.6        Pe r u s a h a a n Te r b u ka                    Terpenuhi
                         memiliki kebijakan                                Complied
                         pemberian insentif jangka
                         panjang kepada Direksi dan                        Saat ini, Perseroan tidak memiliki kebijakan tertulis apapun mengenai
                         karyawan.                                         hal ini.
                         The Public Company has                            At the moment, the Company does not have any written policy on
                         a policy on long-term                             this matter.
                         incentives for the Board
                         of Directors and the
                         employees.

                         Keterbukaan Informasi
              V.
                         Disclosure of Information

                         Prinsip 8 | Principle 8
                         Meningkatkan Pelaksanaan Keterbukaan Informasi
                         Improving Information Disclosure

              8.1        Pe r u s a h a a n Te r b u ka                    Terpenuhi
                         memanfaatkan penggunaan                           Complied
                         teknologi informasi secara
                         lebih luas selain situs web                       Perseroan menggunakan berbagai platform media untuk
                         sebagai media keterbukaan                         mengungkapkan informasi terkait Perseroan. Perseroan menyediakan
                         informasi.                                        pelaporan berdasarkan tren yang muncul di dunia digital.
                         The Public Company, other                         The Company uses multiple media platforms to disclose corporate
                         than on its website, makes a                      related information. The Company has incorporated digital reporting
                         broader use of information                        of its performance.
                         technology to disclose
                         information.

        8.2              L a p o r a n Ta h u n a n                        Terpenuhi
                         Pe r u s a h a a n Te r b u ka                    Complied
                         mengungkapkan pemilik
                         manfaat akhir dalam                               Perseroan telah memenuhi persyaratan ini dan rincian Pemegang
                         kepemilikan saham                                 Saham dapat dilihat pada bagian struktur Pemegang Saham di
                         Perusahaan Terbuka paling                         dalam Laporan Terintegrasi ini.
                         sedikit 5% (lima persen),                         The Company is in compliance with this requirement and the
                         selain pengungkapan                               shareholder details can be seen in the Integrated Report’s
                         pemilik manfaat akhir                             shareholder structure.
                         dalam kepemilikan saham
                         Perusahaan Terbuka melalui
                         Pemegang Saham utama
                         dan pengendali.
                         The Public Company’s
                         Annual Report contains
                         disclosures on shareholders
                         holding at least 5% (five
                         percent) ownership in
                         the Company in addition
                         to its main or controlling
                         shareholder.




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                                         RAPAT UMUM PEMEGANG SAHAM (RUPS)
                                                                       General Meeting of Shareholders (GMS)


Rapat Umum Pemegang Saham (RUPS) adalah organ Perseroan             The General Meeting of Shareholders (GMS) is the Company’s
yang memiliki wewenang yang tidak diberikan kepada Direksi          body with exclusive authority not delegated to the Board of
atau Dewan Komisaris. RUPS menjadi wadah bagi Pemegang              Directors or the Board of Commissioners. The GMS becomes a
Saham untuk mengambil berbagai keputusan penting terkait            forum for Shareholders to make important decisions concerning
Perseroan, terutama yang berkaitan dengan modal dan                 the Company, especially on capital and business continuity.
kelangsungan usaha. Keputusan yang diambil dalam RUPS harus         Decisions at the GMS must consider the long-term and short-
didasarkan pada kepentingan Perseroan dalam jangka panjang          term interests of the Company. The GMS cannot intervene with
maupun jangka pendek. RUPS tidak dapat melakukan intervensi         the duties and authorities of the Board of Commissioners and
terhadap tugas dan wewenang Dewan Komisaris dan Direksi.            the Board of Directors. The rights and authorities belonging to
Semua hak dan wewenang RUPS disesuaikan dengan ketentuan            GMS are adjusted to the provisions in the Law and the Articles
dalam Undang-Undang dan Anggaran Dasar Perusahaan.                  of Association.


                                                      Pemegang Saham Perseroan
                                                        Company Shareholders
                               10,00%
                      0,00%                       89,10%
                      0,90%
                                                             PT Garuda Indonesia (Persero) Tbk
                                    Kode Saham               PT Aero Wisata
                                    Ticker Code              Public (ownership<5%)
                                       GMFI
                                                             Masyarakat (masing-masing kepemilikan di bawah 5%
                                                             Public (ownership less than 5%)




JENIS-JENIS RUPS                                                    GMS TYPES

Perseroan memiliki mekanisme RUPS yang terdiri dari:                The mechanism of GMS at the Company is as follows:
1. RUPS Tahunan (RUPST) untuk menyetujui Laporan Tahunan,           1. Annual GMS (AGMS) to approve the Annual Report, ratify
   mengesahkan perhitungan tahunan serta mengesahkan                   the annual calculations and ratify other agenda items which
   mata acara lainnya yang berdasarkan peraturan perundang-            based on statutory regulations must be ratified through
   undangan wajib disahkan melalui RUPST.                              the AGMS.
2. RUPS Lainnya (atau juga dikenal sebagai RUPS Luar Biasa          2. Other GMS (known as Extraordinary GMS/EGMS) which held
   /RUPSLB) yaitu RUPS yang diadakan sewaktu-waktu                     from time to time if needed and for the Company’s interests.
   berdasarkan kebutuhan dan untuk kepentingan Perseroan.




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                                                             Tahapan Penyelenggaraan RUPS
                                                                    GMS Procedures




                              1
            Pemberitahuan rencana penyelenggaraan
                                                                             2
                                                              Pengumuman ringkasan Risalah RUPS
                                                                                                                            3
                                                                                                              Pemanggilan penyelenggaraan RUPS
              RUPS kepada Regulator paling lambat            melalui media massa paling lambat 2 hari        melalui media massa paling lambat 21
                5 hari kerja sebelum pengumuman                  kerja setelah pelaksanaan RUPS.             hari sebelum pelaksanaan RUPS, tanpa
                      penyelenggaraan RUPS.                   Announcement of the Summary of GMS              memperhitungkan tanggal RUPS dan
             Notification of GMS implementation plan         Minutes through Mass Media At the latest                 tanggal pemanggilan.
            to Regulators no later than 5 working days            2 working days after the RUPS.           Summons for organizing GMS through mass
            before the announcement of the holding of                                                      media no later than 21 days before the GMS,
                              the GMS.                                                                     without calculating the date of the GMS dan
                                                                                                                    the date of the summons.




                              4                                              5                                              6
                                                                 Pengumuman penyelenggaraan
                                                                RUPS melalui media massa paling
                                                              lambat 14 hari sebelum pemanggilan              Penyampaian Risalah RUPS kepada
                                                                  penyelenggaraan RUPS, tanpa                Regulator paling lambat 30 hari setelah
                       Pelaksanaan RUPS.
                                                             memperhitungkan tanggal pemanggilan                       pelaksanaan RUPS.
                   Implementation of the GMS.
                                                                       dan pengumuman.                      Submission of GMS Minutes to Regulators
                                                             Announcement of GMS implementation               no later than 30 days after the GMS.
                                                              through mass media no later than 14
                                                             days before the notice of GMS, without
                                                               regard to the date of summons and
                                                                         announcement.




      PENYELENGGARAAN RUPS PADA TAHUN                                              THE HOLDING OF GMS IN 2023
      2023

      Di sepanjang tahun 2023, Perseroan menyelenggarakan 1 (satu)                 Throughout 2023, the Company has held once GMS, which was
      kali RUPS, yaitu RUPS Tahunan pada tanggal 28 Juni 2023.                     the Annual GMS, on June 28, 2023.


                                                                        RUPS Tahunan
                                                                         Annual GMS
            Hari/Tanggal          Rabu, 28 Juni 2023
             Day/Date             Wednesday, June 28, 2023

               Waktu              09.40 WIB - 11.28 WIB
               Time

               Tempat             Garuda Management Building of Garuda, Garuda City, Office Area of Soekarno-Hatta International Airport, Tangerang,
                Venue             Indonesia.




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                                                    Tahapan Pelaksanaan RUPS Tahunan
                                                    Process in Orgazining the Annual GMS
                                                           Mengirimkan surat Pemberitahuan Penyelenggaraan RUPS Tahunan Tahun Buku 2022
                                                           ke OJK pada tanggal 08 Mei 2023 melalui surat Direktur Utama Perseroan No. GMF/
                                                           DT/SPE-2003/23, termasuk juga surat Pemberitahuan Penambahan Mata Acara Rapat
   Pemberitahuan Penyelenggaraan RUPS Kepada
                                                           melalui surat No. GMF/DT/SPE-2005/23 tanggal 06 Juni 2023.
                         OJK
                                                           Sending the Notice of Annual General Meeting of Shareholders for Financial Year 2022
          Notification to Hold GMS to OJK
                                                           to OJK on 08 May 2023 through the Company’s President Director letter No. GMF/DT/
                                                           SPE-2003/23, including the Notice of Addition to the Meeting Agenda through letter
                                                           No. GMF/DT/SPE-2005/23 dated 06 June 2023.

                                                           Pemasangan Pengumuman RUPS Tahunan Tahun Buku 2022 pada situs web PT Bursa
                                                           Efek Indonesia, situs web Perseroan serta platform eASY.KSEI dalam Bahasa Indonesia
                                                           dan bahasa Inggris yang dipublikasikan pada tanggal 22 Mei 2023.
                      Pengumuman
                                                           Posting of the Announcement of the Annual General Meeting of Shareholders for the
                      Announcement
                                                           Financial Year 2022 on the website of the Indonesia Stock Exchange, the Company’s
                                                           website and the eASY.KSEI platform in Bahasa Indonesia and English published on 22
                                                           May 2023.

                                                           Pemanggilan RUPS Tahunan Tahun Buku 2022 dilakukan melalui situs web Bursa Efek
                                                           Indonesia, situs web Perseroan, serta platform eASY.KSEI dalam Bahasa Indonesia dan
                                                           bahasa Inggris, yang masing-masing Pemanggilan dan Ralat Pemanggilan dipublikasikan
                       Pemanggilan                         pada tanggal 06 Juni 2023.
                        Summoning                          The Invitation to the Annual General Meeting of Shareholders for Financial Year 2022
                                                           was made through the Indonesia Stock Exchange website, the Company’s website, as
                                                           well as the eASY.KSEI platform in Indonesian and English, each of which Invitation and
                                                           Rectification of Invitation were published on 06 June 2023.

                                                           RUPS Tahunan Tahun Buku 2022 diselenggarakan pada 28 Juni 2023.
                 Penyelenggaraan RUPS
                                                           The Annual General Meeting of Shareholders for Financial Year 2022 will be held on
                     GMS Holding
                                                           28 June 2023.

                                                           Ringkasan Risalah RUPS Tahunan Tahun Buku 2022 telah dirilis pada tanggal 03 Juli
                                                           2023 yang diumumkan melalui situs web Perseroan dan situs web Bursa Efek Indonesia.
        Pengumuman Ringkasan Risalah RUPS
                                                           The Summary of Minutes of the Annual GMS for Financial Year 2022 was released on
        Announcement of GMS Minutes Summary
                                                           03 July 2023 which was announced through the Company’s website and the Indonesia
                                                           Stock Exchange website.

                                                           Penyampaian Risalah RUPS Tahun Buku 2022 kepada OJK pada tanggal 27 Juli 2023
       Penyampaian Risalah RUPS Kepada OJK                 melalui surat Corporate Secretary & Legal No. GMF/TS/SPE-2017/23.
          Submission of GMS Minutes to OJK                 Submission of the Minutes of the GMS for Financial Year 2022 to OJK on 27 July 2023
                                                           through Corporate Secretary & Legal letter No. GMF/TS/SPE-2017/23.



Pada RUPS Tahunan yang dilaksanakan tahun 2023, jumlah                     At the Annual GMS held in 2023, the number of shares with
saham dengan hak suara yang hadir atau diwakili telah                      voting rights present or represented has fulfilled the quorum
memenuhi kuorum dalam RUPS yaitu sebesar 25.410.638.800                    in the GMS, which is 25,410,638,800 shares or equivalent to
saham atau setara dengan 90,0016946% dari seluruh saham                    90.0016946% of all shares with valid voting rights issued by
dengan hak suara sah yang telah dikeluarkan oleh Perseroan,                the Company, in accordance with the Company’s Articles of
sesuai dengan Anggaran Dasar Perusahaan.                                   Association.


                                                          Kehadiran RUPS Tahunan
                                                         Attendees of the Annual GMS
                                       Semua anggota Dewan Komisaris yang menjabat sampai dengan penyelenggaraan RUPS Tahunan menghadiri
       Dewan Komisaris
                                       RUPS.
     Board of Commissioners
                                       All members of the Board of Commissioners who served until the Annual GMS attended the GMS.

              Direksi                  Semua anggota Direksi yang menjabat sampai dengan penyelenggaraan RUPS Tahunan menghadiri RUPS.
         Board of Directors            All members of the Board of Directors who served until the Annual GMS attended the GMS.

                                       Ketua Komite Audit dan Kebijakan Tata Kelola Perusahaan yang menjabat sampai dengan penyelenggaraan
          Komite Audit                 RUPS Tahunan menghadiri RUPS.
         Audit Committee               The Chairman of the Audit and Corporate Governance Policy Committee who served until the Annual GMS
                                       attended the GMS.

     Komite Nominasi dan               Semua anggota Komite Nominasi dan Remunerasi yang menjabat sampai dengan penyelenggaraan RUPS
          Remunerasi                   Tahunan menghadiri RUPS.
  Nomination and Remuneration          All of the Nomination and Remuneration Committee who held the position attended the GMS.
           Committee




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                                                                    Kehadiran RUPS Tahunan
                                                                   Attendees of the Annual GMS
                                              •   Shanti Indah Lestari, SH, M.Kn., sebagai Notaris/as the Notary;
               Pihak Independen               •   PT Datindo Entrycom sebagai Biro Administrasi Efek Perseroan/as the Securities Administration Bureau; dan
              Independent Party               •   Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis & Rekan sebagai Kantor Akuntan Publik/as the Public
                                                  Account.

          Mekanisme Penghitungan              Perhitungan suara dalam setiap mata acara rapat dilakukan oleh Notaris.
                   Suara                      The voting process at each agenda was done by the Notary.
             Voting Mechanism


      Hasil Keputusan RUPS Tahunan telah dituangkan melalui akta                     The resolutions of the Annual GMS have been set forth in the
      Berita Acara RUPS Tahunan Tahun Buku 2022 No. 15 Tanggal 28                    deed of Minutes of the Annual GMS of Fiscal Year 2022 No. 15
      Juni 2023 yang dibuat di hadapan Notaris Shanti Indah Lestari,                 dated 28 June 2023 made before Notary Shanti Indah Lestari,
      S.H., M.Kn. Notaris di Kabupaten Tangerang.                                    S.H., M.Kn. Notary in Tangerang Regency.

      MATA ACARA RAPAT DAN KEPUTUSANNYA                                              MEETING AGENDA, RESOLUTIONS, AND
      SERTA TINDAK LANJUT                                                            FOLLOW-UP STATUS

                                                                     Mata Acara Rapat Pertama
                                                                       First Meeting Agenda

        Mata Acara                         Persetujuan Laporan Tahunan Perseroan Tahun Buku 2022 termasuk di dalamnya Laporan Keuangan Konsolidasian
        Agenda                             Perseroan dan Laporan Tugas Pengawasan Dewan Komisaris yang berakhir pada tanggal 31 Desember 2022, serta
                                           pemberian pelunasan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de charge) kepada para
                                           anggota Direksi dan anggota Dewan Komisaris atas tindakan pengurusan dan pengawasan yang telah dijalankan
                                           selama tahun buku 2022.
                                           Approval of the Company's Annual Report for the financial year 2022, including the Company's Consolidated
                                           Financial Statements and the Board of Commissioners Oversight Report ended on 31 December 2022, and to release
                                           and discharge of all responsibilities (volledig acquit et de charge) to all Board members for the management and
                                           supervision carried out in the financial year 2022.

        Jumlah Pemegang Saham              Terdapat 1 (satu) Pemegang Saham yang memberikan pendapat.
        yang mengajukan pertanyaan         There was 1 (one) Shareholder who gave an opinion.
        dan/atau memberikan
        pendapat
        Shareholders who raised
        questions and/or gave their
        opinions

        Hasil Pemungutan Suara
                                                      Setuju                  Tidak Setuju                  Abstain
        Voting Results
                                                      Agreed                   Disagreed                    Absent

                                             25.410.637.600 Suara        1.100 Suara atau           100 Suara atau
                                             atau 99,9999953% suara      0,0000043% suara dari      0,0000004 % suara dari
                                             dari seluruh saham yang     seluruh saham yang hadir   seluruh saham yang hadir
                                             hadir                       1.100 Shares or            100 Shares or 0,0000004
                                             25.410.637.600 Shares or    0,0000043% shares of       % shares of all shares
                                             99,9999953% shares of all   all shares present         present
                                             shares present




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                                                             Mata Acara Rapat Pertama
                                                               First Meeting Agenda

 Keputusan Mata Acara Rapat         1. Menyetujui dan mengesahkan Laporan Tahunan Perseroan Tahun Buku 2022 termasuk di dalamnya Laporan
 Pertama                               Pelaksanaan Tugas Pengawasan Dewan Komisaris yang berakhir pada tanggal 31 Desember 2022 serta Laporan
 Resolution of First Meeting           Keuangan Konsolidasian Perseroan Tahun Buku 2022 yang berakhir pada tanggal 31 Desember 2022, yang
 Agenda                                telah diaudit oleh Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis & Rekan dengan pendapat “Wajar Dalam
                                       Semua Hal yang Material”, sebagaimana termuat dalam laporannya Nomor 00626/2.1025/AU.1/10/0225-1/1/
                                       IV/2023 tanggal 12 April 2023;
                                       To approve and ratify the Company's Annual Report for the Financial Year 2022, including the Report on the
                                       Implementation of the Supervisory Duties of the Board of Commissioners ending 31 December 2022 and the
                                       Company's Consolidated Financial Statements for the Financial Year 2022 ending 31 December 2022, which
                                       have been audited by the Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan with the opinion of
                                       "Fair in All Material Matters", as contained in its report Number 00626/2.1025/AU.1/10/0225-1/1/IV/2023 dated
                                       12 April 2023;
                                    2. Memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de charge) kepada
                                       para anggota Direksi dan anggota Dewan Komisaris atas tindakan pengurusan dan pengawasan yang telah
                                       dijalankan selama tahun buku 2022, sepanjang tindakan tersebut bukan merupakan tindakan pidana dan/
                                       atau tindakan yang bertentangan dengan peraturan perundangan yang berlaku dan tindakan tersebut telah
                                       tercermin dalam Laporan Tahunan dan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada
                                       tanggal 31 Desember 2022.
                                       To grant full release and discharge (volledig acquit et de charge) to the members of the Board of Directors and
                                       members of the Board of Commissioners for their management and supervisory actions carried out during the
                                       financial year 2022, to the extent that such actions do not constitute criminal acts and/or actions contrary to
                                       the prevailing laws and regulations and such actions have been reflected in the Company's Annual Report
                                       and Financial Statements for the financial year ending 31 December 2022.

 Realisasi                          Pemegang Saham melalui RUPS menerima pertanggungjawaban pelaksanaan pengawasan dan pengurusan
 Realization                        Perseroan berturut-turut oleh Dewan Komisaris dan Direksi, serta memberikan pelunasan dan pembebasan
                                    tanggung jawab sepenuhnya.
                                    The Shareholders through the GMS accept the accountability of the implementation of supervision and management
                                    of the Company successively by the Board of Commissioners and the Board of Directors, and provide full release
                                    and discharge of responsibility.



                                                              Mata Acara Rapat Kedua
                                                              Second Meeting Agenda

 Mata Acara                                               Penetapan Laba Bersih Perseroan Tahun 2022.
 Agenda                                                   Fixation of the Company's Net Income in 2022.

 Jumlah Pemegang Saham yang mengajukan                    Tidak ada pertanyaan maupun pendapat yang disampaikan oleh Pemegang Saham atau
 pertanyaan dan/atau memberikan pendapat                  kuasa Pemegang Saham.
 Number of Shareholders who asked questions and/          There were no questions or opinions raised by Shareholders or Shareholders' proxies.
 or gave opinions

 Hasil Pemungutan Suara
                                                                    Setuju                   Tidak Setuju                    Abstain
 Voting Results
                                                                    Agreed                    Disagreed                      Absent

                                                           25.410.637.600 Suara         1.100 Suara atau            100 Suara atau
                                                           atau 99,9999953% suara       0,0000043% suara dari       0,0000004 % suara dari
                                                           dari seluruh saham yang      seluruh saham yang hadir    seluruh saham yang hadir
                                                           hadir                        1.100 Shares or             100 Shares or 0,0000004
                                                           25.410.637.600 Shares or     0,0000043% shares of        % shares of all shares
                                                           99,9999953% shares of all    all shares present          present
                                                           shares present

 Keputusan Mata Acara Rapat Kedua                         Menyetujui dan menetapkan penggunaan Laba Bersih Konsolidasian Tahun Buku 2022
 Resolution of the Second Meeting Agenda                  sebesar USD 3,628,331 (tiga juta enam ratus dua puluh delapan ribu tiga ratus tiga puluh
                                                          satu Dollar Amerika Serikat) sebagai Laba Ditahan atau Retained Earning Perseroan untuk
                                                          mengurangi akumulasi kerugian Perseroan.
                                                          Approve and determine the utilisation of the Consolidated Net Income for the Financial Year
                                                          2022 amounting to USD 3,628,331 (three million six hundred twenty-eight thousand three
                                                          hundred thirty-one United States Dollars) as Retained Earning of the Company to reduce
                                                          the Company's accumulated losses.

 Realisasi                                                Pemegang Saham melalui RUPS sudah memberikan persetujuan agar Laba Bersih Perseroan
 Realization                                              dicatatkan sebagai Laba Ditahan atau Retained Earning. Perseroan akan melaksanakan
                                                          keputusan tersebut pada periode pelaporan Laporan Keuangan selanjutnya.
                                                          The Shareholders through the GMS have given approval for the Company's Net Income
                                                          to be recorded as Retained Earning. The Company will implement the decision in the next
                                                          Financial Statement reporting period.




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                                                              Mata Acara Rapat Ketiga
                                                               Third Meeting Agenda

        Mata Acara                                        Penetapan Tantiem Tahun Buku 2022 dan Remunerasi (Gaji/Honorarium, Fasilitas dan
        Agenda                                            Tunjangan) Tahun Buku 2023 bagi Direksi dan Dewan Komisaris.
                                                          Determination of Tantiem for the financial year 2022 and remuneration (salary/honorarium,
                                                          facilities and allowances) for the financial year 2023 for Directors and Board of Commissioners.

        Jumlah Pemegang Saham yang mengajukan             Tidak ada pertanyaan maupun pendapat yang disampaikan oleh Pemegang Saham atau
        pertanyaan dan/atau memberikan pendapat           kuasa Pemegang Saham.
        Number of Shareholders who asked questions and/   There were no questions or opinions raised by Shareholders or Shareholders' proxies.
        or gave opinions

        Hasil Pemungutan Suara
                                                                    Setuju                     Tidak Setuju                     Abstain
        Voting Results
                                                                    Agreed                      Disagreed                       Absent

                                                           25.410.637.600 Suara          1.100 Suara atau              100 Suara atau
                                                           atau 99,9999953% suara        0,0000043% suara dari         0,0000004 % suara dari
                                                           dari seluruh saham yang       seluruh saham yang hadir      seluruh saham yang hadir
                                                           hadir                         1.100 Shares or               100 Shares or 0,0000004
                                                           25.410.637.600 Shares or      0,0000043% shares of          % shares of all shares
                                                           99,9999953% shares of all     all shares present            present
                                                           shares present

        Keputusan Mata Acara Rapat Ketiga                 Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris
        Resolution of the Second Meeting Agenda           Perseroan dengan terlebih dahulu mendapat persetujuan tertulis dari PT Garuda Indonesia
                                                          (Persero) Tbk selaku Pemegang Saham Pengendali untuk menetapkan pemberian tantiem
                                                          dan/atau insentif kinerja tahun 2022 dan menetapkan remunerasi (gaji/honorarium, tunjangan
                                                          dan fasilitas) bagi anggota Direksi dan Dewan Komisaris Perseroan untuk tahun 2023.
                                                          Approved the granting of power and delegation of authority to the Company's Board of
                                                          Commissioners with prior written approval from PT Garuda Indonesia (Persero) Tbk as the
                                                          Controlling Shareholder to determine the tantiem and/or performance incentives for 2022
                                                          and determine the remuneration (salary/honorarium, allowances and facilities) for members
                                                          of the Company's Board of Directors and Board of Commissioners for 2023.

        Realisasi                                         Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris
        Realization                                       Perseroan dengan terlebih dahulu mendapat persetujuan tertulis dari PT Garuda Indonesia
                                                          (Persero) Tbk selaku Pemegang Saham Pengendali untuk menetapkan besaran remunerasi
                                                          (gaji/honorarium, tunjangan dan fasilitas) bagi anggota Direksi dan Dewan Komisaris untuk
                                                          tahun 2023.
                                                          Approved the granting of power and delegation of authority to the Board of Commissioners
                                                          of the Company with prior written approval from PT Garuda Indonesia (Persero) Tbk as
                                                          the Controlling Shareholder to determine the amount of remuneration (salary/honorarium,
                                                          allowances and facilities) for members of the Board of Directors and the Board of
                                                          Commissioners for
                                                          year 2023.


                                                             Mata Acara Rapat Keempat
                                                              Fourth Meeting Agenda

        Mata Acara                                        Penunjukan Kantor Akuntan Publik Untuk Mengaudit Laporan Keuangan Perseroan Tahun
        Agenda                                            Buku 2023.
                                                          Appointment of a Public Accountant Firm to Audit the Company's Financial Statements
                                                          for the Financial Year 2023.

        Jumlah Pemegang Saham yang mengajukan             Tidak ada pertanyaan maupun pendapat yang disampaikan oleh Pemegang Saham atau
        pertanyaan dan/atau memberikan pendapat           kuasa Pemegang Saham.
        Number of Shareholders who asked questions and/   There were no questions or opinions raised by Shareholders or Shareholders' proxies.
        or gave opinions

        Hasil Pemungutan Suara
                                                                    Setuju                     Tidak Setuju                     Abstain
        Voting Results
                                                                    Agreed                      Disagreed                       Absent

                                                           25.410.637.600 Suara          1.100 Suara atau              100 Suara atau
                                                           atau 99,9999953% suara        0,0000043% suara dari         0,0000004 % suara dari
                                                           dari seluruh saham yang       seluruh saham yang hadir      seluruh saham yang hadir
                                                           hadir                         1.100 Shares or               100 Shares or 0,0000004
                                                           25.410.637.600 Shares or      0,0000043% shares of          % shares of all shares
                                                           99,9999953% shares of all     all shares present            present
                                                           shares present




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                                                   Mata Acara Rapat Keempat
                                                    Fourth Meeting Agenda

 Keputusan Mata Acara Rapat Keempat             1. Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris
 Resolution of the Fourth Meeting Agenda           Perseroan untuk menunjuk Akuntan Publik Independen dari Kantor Akuntan Publik
                                                   (KAP) untuk melakukan pemeriksaan atas Laporan Keuangan Konsolidasian Perseroan
                                                   untuk tahun buku yang berakhir tanggal 31 Desember 2023, pemeriksaan atas Laporan
                                                   Keuangan Khusus tertentu pada tahun 2023 dan pemeriksaan atas Laporan Keuangan
                                                   Konsolidasian Perseroan periode lainnya pada tahun 2023 untuk tujuan dan kepentingan
                                                   Perseroan.
                                                   Approved the granting of power and delegation of authority to the Company's Board of
                                                   Commissioners to appoint an Independent Public Accountant from the Public Accounting
                                                   Firm (KAP) to conduct an audit of the Company's Consolidated Financial Statements
                                                   for the financial year ending 31 December 2023, an audit of certain Special Financial
                                                   Statements in 2023 and an audit of the Company's Consolidated Financial Statements
                                                   for other periods in 2023 for the purposes and interests of the Company.
                                                2. Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris
                                                   Perseroan untuk menetapkan besaran nilai jasanya sesuai ketentuan dan peraturan
                                                   yang berlaku, termasuk untuk menunjuk KAP pengganti bilamana karena sebab apapun
                                                   juga berdasarkan ketentuan pasar modal di Indonesia apabila KAP yang ditunjuk tidak
                                                   dapat melakukan tugasnya, dengan kriteria bahwa KAP tersebut terdaftar di Otoritas
                                                   Jasa Keuangan.
                                                   Approved the granting of power and delegation of authority to the Company's Board of
                                                   Commissioners to determine the amount of service value in accordance with applicable
                                                   rules and regulations, including to appoint a replacement KAP if for any reason whatsoever
                                                   based on capital market regulations in Indonesia if the appointed KAP is unable to perform
                                                   its duties, with the criteria that the KAP is registered with the Financial Services Authority.

 Realisasi                                      Berdasarkan kuasa dan wewenang yang diberikan dan dilimpahkan oleh RUPS, Dewan
 Realization                                    Komisaris Perseroan telah menyetujui penunjukan Kantor Akuntan Publik (KAP) Ade Setiawan
                                                Elimin dan Kantor Akuntan Publik (KAP) Tanudiredja, Wibisana, Rintis & Rekan untuk melakukan
                                                pemeriksaan atas Laporan Keuangan tahun buku yang berakhir tanggal 31 Desember 2023.
                                                Based on the power and authority granted and delegated by the GMS, the Company's Board
                                                of Commissioners has approved the appointment of Public Accountant Office (KAP) Ade
                                                Setiawan Elimin and Public Accountant Office (KAP) Tanudiredja, Wibisana, Rintis & Rekan to
                                                conduct an audit of the Financial Statements for the financial year ending 31 December 2023.



                                                    Mata Acara Rapat Kelima
                                                     Fifth Meeting Agenda

 Mata Acara                                     Pengukuhan Pemberlakuan Peraturan Menteri Badan Usaha Milik Negara (“BUMN”) Republik
 Agenda                                         Indonesia:
                                                1. Peraturan Menteri BUMN Republik Indonesia No. PER-1/03/2023 tentang Penugasan
                                                    Khusus dan Program Tanggung Jawab Sosial dan Lingkungan Badan Usaha Milik Negara
                                                    (“Permen BUMN 1/2023”) berikut seluruh perubahannya;
                                                2. Peraturan Menteri BUMN Republik Indonesia No. PER-2/03/2023 tentang Pedoman
                                                    Tata Kelola dan Kegiatan Korporasi Signifikan Badan Usaha Milik Negara (“Permen BUMN
                                                    2/2023”) berikut seluruh perubahannya; dan
                                                3. Peraturan Menteri BUMN Republik Indonesia No. PER-3/03/2023 tentang Organ dan
                                                    Sumber Daya Manusia Badan Usaha Milik Negara (“Permen BUMN 3/2023”) berikut
                                                    seluruh perubahannya.
                                                Confirmation of Enforcement of the Regulation of the Minister of State-Owned Enterprises
                                                (“SOEs”) of the Republic of Indonesia:
                                                1. Regulation of the Minister of SOEs of the Republic of Indonesia No. PER-1/03/2023
                                                    concerning Special Assignments and Social and Environmental Responsibility Programmes
                                                    of State-Owned Enterprises (“Permen BUMN 1/2023”) and all amendments thereto;
                                                2. Regulation of the Minister of SOEs of the Republic of Indonesia No. PER-2/03/2023
                                                    on Guidelines for Governance and Significant Corporate Activities of State-Owned
                                                    Enterprises (“Permen BUMN 2/2023”) and all amendments thereto; and
                                                3. Regulation of the Minister of SOEs of the Republic of Indonesia No. PER-3/03/2023 on
                                                    Organs and Human Resources of State-Owned Enterprises (“Permen BUMN 3/2023”)
                                                    and all amendments thereto.

 Jumlah Pemegang Saham yang mengajukan          Tidak ada pertanyaan maupun pendapat yang disampaikan oleh Pemegang Saham atau
 pertanyaan dan/atau memberikan pendapat        kuasa Pemegang Saham.
 Resolution of the Fourth Meeting Agenda        There were no questions or opinions raised by Shareholders or Shareholder’s representative.




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                                                                                                                                    Corporate Governance




                                                                Mata Acara Rapat Kelima
                                                                 Fifth Meeting Agenda

        Hasil Pemungutan Suara
                                                                      Setuju                    Tidak Setuju                   Abstain
        Voting Results
                                                                      Agreed                     Disagreed                     Absent

                                                             25.410.637.600 Suara         1.100 Suara atau            100 Suara atau
                                                             atau 99,9999953% suara       0,0000043% suara dari       0,0000004 % suara dari
                                                             dari seluruh saham yang      seluruh saham yang hadir    seluruh saham yang hadir
                                                             hadir                        1.100 Shares or             100 Shares or 0,0000004
                                                             25.410.637.600 Shares or     0,0000043% shares of        % shares of all shares
                                                             99,9999953% shares of all    all shares present          present
                                                             shares present

        Keputusan Mata Acara Rapat Kelima                  Mengukuhkan pemberlakuan Peraturan Menteri Badan Usaha Milik Negara Republik
        Resolution of the Fifth Meeting Agenda             Indonesia (“Permen BUMN”) sebagai berikut:
                                                           1. Permen BUMN Nomor PER-1/03/2023 tentang Penugasan Khusus dan Program Tanggung
                                                              Jawab Sosial dan Lingkungan Badan Usaha Milik Negara;
                                                           2. Permen BUMN Nomor PER-2/03/2023 tentang Pedoman Tata Kelola dan Kegiatan
                                                              Korporasi Signifikan Badan Usaha Milik Negara; dan
                                                           3. Permen BUMN Nomor PER-3/03/2023 tentang Organ dan Sumber Daya Manusia Badan
                                                              Usaha Milik Negara Berikut seluruh perubahannya.

                                                           To confirm the implementation of the Regulation of the Minister of State-Owned Enterprises
                                                           of the Republic of Indonesia ("Permen BUMN") as follows:
                                                           1. SOE Regulation Number PER-1/03/2023 concerning Special Assignments and Social
                                                               and Environmental Responsibility Programmes of State-Owned Enterprises;
                                                           2. Minister of SOEs Regulation Number PER-2/03/2023 on Guidelines for Governance
                                                               and Significant Corporate Activities of State-Owned Enterprises; and
                                                           3. Minister of State-Owned Enterprises Regulation Number PER-3/03/2023 concerning
                                                               Organs and Human Resources of State-Owned Enterprises and all amendments.

        Realisasi                                          Perseroan masih melakukan telaah dan maping terhadap ketiga Permen BUMN dimaksud
        Realization                                        yang relevan untuk diimplementasikan di Perseroan.
                                                           The Company is still reviewing and mapping the three SOE Regulations that are relevant
                                                           to be implemented in the Company.


                                                               Mata Acara Rapat Keenam
                                                                 Sixth Meeting Agenda

        Mata Acara                                        Perubahan Susunan Pengurus Perseroan.
        Agenda                                            Changes in the composition of the Company's management.

        Jumlah Pemegang Saham yang mengajukan             Terdapat 1 (satu) Pemegang Saham yang memberikan pendapat.
        pertanyaan dan/atau memberikan pendapat           There’s opinion were raised by 1 (one) shareholders or their attorney.
        Number of Shareholders who asked questions and/
        or gave opinions

        Hasil Pemungutan Suara
                                                                    Setuju                    Tidak Setuju                   Abstain
        Voting Results
                                                                    Agreed                     Disagreed                     Absent

                                                           25.410.637.600 Suara          1.100 Suara atau            100 Suara atau
                                                           atau 99,9999953% suara        0,0000043% suara dari       0,0000004 % suara dari
                                                           dari seluruh saham yang       seluruh saham yang hadir    seluruh saham yang hadir
                                                           hadir                         1.100 Shares or             100 Shares or 0,0000004
                                                           25.410.637.600 Shares or      0,0000043% shares of        % shares of all shares
                                                           99,9999953% shares of all     all shares present          present
                                                           shares present




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                                                     Mata Acara Rapat Keenam
                                                       Sixth Meeting Agenda

 Keputusan Mata Acara Rapat Keenam              1. Menyetujui untuk memberhentikan dengan hormat nama-nama tersebut dibawah ini
 Resolution of the Sixth Meeting Agenda             sebagai Komisaris Perseroan yang berlaku efektif sejak ditutupnya Rapat ini, dengan ucapan
                                                    terimakasih atas sumbangan tenaga dan pikiran yang diberikan selama memangku tersebut:
                                                     a. Bapak Rahmat Hanafi sebagai Komisaris Utama yang diangkat pada Rapat Umum
                                                        Pemegang Saham Tahunan tanggal 3 Juni 2020;
                                                     b. Ibu Maria Kristi Endah Murni sebagai Komisaris yang diangkat pada Rapat Umum
                                                        Pemegang Saham Tahunan tanggal 2 September 2022;
                                                     c. Bapak Gatot Sulistiantoro Dewa Broto sebagai Komisaris Independen yang diangkat
                                                        pada Rapat Umum Pemegang Saham Tahunan tanggal 3 Juni 2020
                                                2. Menyetujui untuk mengangkat nama dibawah ini sebagai Komisaris Perseroan yang berlaku
                                                    efektif sejak ditutupkan Rapat ini dengan masa jabatan sesuai dengan ketentuan Anggaran
                                                    Dasar Perseroan tanpa mengurangi hak RUPS untuk sewaktu-waktu memberhentikannya
                                                    sebelum masa jabatannya berakhir, sebagai berikut:
                                                     a. Bapak Dharmadi sebagai Komisaris Utama merangkap sebagai Komisaris Independen;
                                                     b. Bapak Rahmat Hanafi sebagai Komisaris sekaligus pengangkatan kembali;
                                                     c. Bapak Abhan sebagai Komisaris Independen.
                                                3. Dengan memperhatikan keputusan butir 1 dan 2 di atas, maka susunan anggota Dewan
                                                    Komisaris Perseroan terhitung sejak ditutupnya Rapat ini menjadi sebagai berikut:
                                                    Dewan Komisaris
                                                     a. Komisaris Utama/Independen : Sdr. Dharmadi
                                                     b. Komisaris : Sdr. Rahmat Hanafi
                                                     c. Komisaris Independen : Sdr. Ali Gunawan
                                                     d. Komisaris Independen : Sdr. Abhan
                                                     e. Komisaris Independen : Sdr. Agit Atriantio
                                                4. Menyetujui untuk memberhentikan dengan hormat Bapak Ananta Widjaja sebagai Direktur
                                                    Business & Base Operation Perseroan yang diangkat pada Rapat Umum Pemegang Saham
                                                    Tahunan 20 Agustus 2021 dan berlaku efektif sejak ditutupnya Rapat ini, dengan ucapan
                                                    terimakasih atas sumbangan tenaga dan pikiran yang diberikan selama memangku jabatan
                                                    tersebut.
                                                5. Menyetujui untuk merubah nomenklatur Direktur Business & Base Operation menjadi
                                                    Direktur Base Operation.
                                                6. Menyetujui untuk mengangkat nama-nama tersebut di bawah sebagai Direksi Perseroan
                                                    yang berlaku efektif sejak ditutupnya Rapat ini dengan masa jabatan sesuai dengan
                                                    ketentuan Anggaran Dasar Perseroan tanpa mengurangi hak RUPS untuk sewaktu-waktu
                                                    memberhentikannya sebelum masa jabatannya berakhir, sebagai berikut:
                                                     a. Bapak Andi Fahrurrozi sebagai Direktur Utama sekaligus pengangkatan kembali;
                                                     b. Bapak Pudjo Sarwoko sebagai Direktur Human Capital & Corporate Affairs sekaligus
                                                        pengangkatan kembali;
                                                     c. Bapak Irvan Pribadi sebagai Direktur Base Operation.
                                                7. Dengan memperhatikan keputusan pada butir 4 hingga 6 di atas, maka susunan anggota
                                                    Direksi Perseroan terhitung sejak ditutupnya Rapat Perseroan menjadi sebagai berikut:
                                                    Direksi
                                                     a. Direktur Utama : Sdr. Andi Fahrurrozi
                                                     b. Direktur Keuangan : Sdr. Salusra Satria
                                                     c. Direktur Human Capital & Corporate Affairs : Sdr. Pudjo Sarwoko
                                                     d. Direktur Line Operation : Sdr. Mukhtaris
                                                     e. Direktur Base Operation : Sdr. Irvan Pribadi
                                                8. Anggota Komisaris atau Direksi yang diangkat sebagaimana pada butir 2 dan 6 yang masih
                                                    menjabat pada jabatan lain yang dilarang oleh peraturan perundang-undangan untuk
                                                    dirangkap dengan jabatan Anggota Komisaris atau Direksi, maka yang bersangkutan harus
                                                    mengundurkan diri atau diberhentikan dari jabatannya tersebut.
                                                9. Menyetujui pembagian tugas dan wewenang setiap anggota Direksi Perseroan ditetapkan
                                                    berdasarkan keputusan Direksi Perseroan setelah mendapatkan persetujuan tertulis dari
                                                    Dewan Komisaris Perseroan.
                                                10. Memberikan kuasa dan kewenangan kepada masing-masing Direksi Perseroan dengan
                                                    hak substitusi untuk menyatakan dalam Akta Notaris tersendiri hasil keputusan Rapat
                                                    sehubungan dengan Perubahan Direksi dan Dewan Komisaris Perseroan dan melakukan
                                                    pemberitahuan dan/atau pendaftaran mengenai perubahan susunan anggota Direksi dan
                                                    Dewan Komisaris Perseroan kepada Kementerian Hukum dan Hak Asasi Manusia Republik
                                                    Indonesia serta tindakan-tindakan terkait lainnya sesuai peraturan perundang-undangan
                                                    yang berlaku.




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                                                                                                                                Corporate Governance




                                                           Mata Acara Rapat Keenam
                                                             Sixth Meeting Agenda

                                                      1. Approved to respectfully dismiss the following names as Commissioners of the Company
                                                          effective as of the closing of this Meeting, with gratitude for the contribution of energy
                                                          and thought given during their tenure:
                                                           a. Mr Rahmat Hanafi as President Commissioner who was appointed at the Annual
                                                               General Meeting of Shareholders on 3 June 2020;
                                                           b. Mrs Maria Kristi Endah Murni as Commissioner who was appointed at the Annual
                                                               General Meeting of Shareholders on 2 September 2022;
                                                           c. Mr Gatot Sulistiantoro Dewa Broto as Independent Commissioner appointed at the
                                                               Annual General Meeting of Shareholders on 3 June 2020.
                                                      2. Approved to appoint the following names as Commissioners of the Company effective as
                                                          of the closing of this Meeting with a term of office in accordance with the provisions of
                                                          the Company's Articles of Association without prejudice to the right of the GMS to dismiss
                                                          him at any time before his term of office ends, as follows:
                                                           a. Mr Dharmadi as President Commissioner concurrently as Independent Commissioner;
                                                           b. Mr Rahmat Hanafi as Commissioner as well as reappointment;
                                                           c. Mr Abhan as Independent Commissioner.
                                                      3. With due observance of the resolutions point 1 and 2 above, the composition of the Board
                                                          of Commissioners of the Company as of the closing of this Meeting shall be as follows:
                                                          Board of Commissioners
                                                           a. President Commissioner/Independent : Br. Dharmadi
                                                           b. Commissioner : Br Rahmat Hanafi
                                                           c. Independent Commissioner : Br. Ali Gunawan
                                                           d. Independent Commissioner : Br. Abhan
                                                           e. Independent Commissioner : Br. Agit Atriantio
                                                      4. Approved to respectfully dismiss Mr Ananta Widjaja as Director of Business & Base Operation
                                                          of the Company who was appointed at the Annual General Meeting of Shareholders on
                                                          20 August 2021 and effective as of the closing of this Meeting, with gratitude for the
                                                          contribution of energy and thought given during his tenure.
                                                      5. Approved to change the nomenclature of Director of Business & Base Operation to Director
                                                          of Base Operation.
                                                      6. Approved to appoint the following names as Directors of the Company effective as of
                                                          the closing of this Meeting with a term of office in accordance with the provisions of the
                                                          Company's Articles of Association without prejudice to the right of the GMS to dismiss
                                                          them at any time before their term of office expires, as follows:
                                                           a. Mr Andi Fahrurrozi as President Director as well as reappointment;
                                                           b. Mr Pudjo Sarwoko as Director of Human Capital & Corporate Affairs as well as
                                                               reappointment;
                                                           c. Mr Irvan Pribadi as Director of Base Operation.
                                                      7. With regard to the resolutions in points 4 to 6 above, the composition of the Board of
                                                          Directors of the Company as of the closing of the Meeting of the Company shall be as follows:
                                                          Board of Directors
                                                           a. President Director: Mr Andi Fahrurrozi
                                                           b. Director of Finance : Br. Salusra Satria
                                                           c. Director of Human Capital & Corporate Affairs : Mr Pudjo Sarwoko
                                                           d. Director of Line Operation: Br Mukhtaris
                                                           e. Director of Base Operation: Br Irvan Pribadi
                                                      8. Members of the Commissioners or Directors appointed as in points 2 and 6 who are still
                                                          serving in other positions that are prohibited by laws and regulations to be concurrent with
                                                          the position of Member of the Commissioners or Directors, then the person concerned
                                                          must resign or be dismissed from the position.
                                                      9. Approve the division of duties and authorities of each member of the Board of Directors
                                                          of the Company to be determined by resolution of the Board of Directors of the Company
                                                          after obtaining written approval from the Board of Commissioners of the Company.
                                                      10. To grant power and authority to each member of the Board of Directors of the Company
                                                          with the right of substitution to state in a separate Notarial Deed the resolutions of the
                                                          Meeting in relation to the Changes in the Board of Directors and Board of Commissioners
                                                          of the Company and to notify and/or register the changes in the composition of the
                                                          members of the Board of Directors and Board of Commissioners of the Company to the
                                                          Ministry of Law and Human Rights of the Republic of Indonesia and other related actions
                                                          in accordance with the prevailing laws and regulations.


        Realisasi                                     Telah dituangkan dalam Akta Pernyataan Keputusan Rapat PT Garuda Maintenance Facility Aero
        Realization                                   Asia Tbk Nomor 16 tanggal 28 Juni 2023 yang telah mendapatkan penerimaan pemberitauan
                                                      dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia sesuai dengan Surat Nomor
                                                      AHUAH.01.09-0144480 tanggal 17 Juli 2023.
                                                      Has been set out in the Deed of Meeting Resolution of PT Garuda Maintenance Facility Aero
                                                      Asia Tbk Number 16 dated 28 June 2023 which has received notification from the Minister
                                                      of Law and Human Rights of the Republic of Indonesia in accordance with Letter Number
                                                      AHUAH.01.09-0144480 dated 17 July 2023.



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PELAKSANAAN DAN TINDAK LANJUT HASIL                                           IMPLEMENTATION AND FOLLOW-UP OF THE
KEPUTUSAN RUPS YANG DISELENGGARAKAN                                           GMS RESOLUTIONS IN 2022
PADA TAHUN 2022

                                       Keputusan RUPS Tahunan Tanggal 28 Juni 2023                                                      Realisasi
                                       Resolution of the Annual GMS dated June 28th, 2023                                              Realization

 Mata Acara Rapat Pertama                                                                                                            Keputusan
 1. Menyetujui dan mengesahkan Laporan Tahunan Perseroan Tahun Buku 2022 termasuk didalamnya Laporan Pelaksanaan                     sudah terealisasi
    Tugas Pengawasan Dewan Komisaris yang berakhir pada tanggal 31 Desember 2022 serta Laporan Keuangan Konsolidasian                The resolution
    Perseroan Tahun Buku 2022 yang berakhir pada tanggal 31 Desember 2022, yang telah diaudit oleh Kantor Akuntan Publik             has been
    Tanudiredja, Wibisana, Rintis & Rekan dengan pendapat Wajar Dalam Semua Hal Yang Material, sebagaimana termuat dalam             realized
    laporannya Nomor 00626/2.1025/AU.1/10/02251/1/IV/2023 tanggal 12 April 2023; dan
 2. Memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de charge) kepada para
    anggota Direksi dan anggota Dewan Komisaris atas tindakan pengurusan dan pengawasan yang telah dijalankan selama
    tahun buku 2022, sepanjang tindakan tersebut bukan merupakan tindakan pidana dan/atau tindakan yang bertentangan
    dengan peraturan perundangan yang berlaku dan tindakan tersebut telah tercermin dalam Laporan Tahunan dan Laporan
    Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2022.
 Resolution of the First Meeting Agenda
 1. Approve and ratify the Company's Annual Report for the 2022 Fiscal Year including the Report on the Implementation
    of Supervisory Duties of the Board of Commissioners ending on 31 December 2022 and the Company's Consolidated
    Financial Report for the 2022 Fiscal Year ending on 31 December 2022, which have been audited by the Tanudiredja Public
    Accounting Firm , Wibisana, Rintis & Partners with a Fair Opinion in All Material Matters, as contained in their report Number
    00626/2.1025/AU.1/10/02251/1/IV/2023 dated 12 April 2023; And

 2. Provide full repayment and release of responsibility (volledig acquit et de charge) to members of the Board of Directors and
    members of the Board of Commissioners for management and supervision actions that have been carried out during the
    2022 financial year, as long as these actions do not constitute criminal acts and/or contradictory actions. with applicable
    laws and regulations and these actions have been reflected in the Company's Annual Report and Financial Report for the
    financial year ending 31 December 2022.

 Keputusan Mata Acara Rapat Kedua                                                                                                    Keputusan
 Menyetujui dan menetapkan penggunaan Laba Bersih Konsolidasian Tahun Buku 2022 sebesar USD 3,628,331 (tiga juta enam                sudah terealisasi
 ratus dua puluh delapan ribu tiga ratus tiga puluh satu Dollar Amerika Serikat) sebagai Laba Ditahan atau Retained Earning          The resolution
 Perseroan untuk mengurangi akumulasi kerugian Perseroan.                                                                            has been
 Resolution of the Second Meeting Agenda                                                                                             realized
 Approve and confirm the utilisation of the Consolidated Net Income for the Financial Year 2022 amounting to USD 3,628,331
 (three million six hundred twenty-eight thousand three hundred thirty-one United States Dollars) as Retained Earning of the
 Company to reduce the Company's accumulated losses.

 Keputusan Mata Acara Rapat Ketiga                                                                                                   Keputusan
 Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris Perseroan dengan terlebih dahulu                        sudah terealisasi
 mendapat persetujuan tertulis dari PT Garuda Indonesia (Persero) Tbk selaku Pemegang Saham Pengendali untuk menetapkan              The resolution
 pemberian tantiem dan/atau insentif kinerja tahun 2022 dan menetapkan remunerasi (gaji/honorarium, tunjangan dan fasilitas)         has been
 bagi anggota Direksi dan Dewan Komisaris Perseroan untuk tahun 2023.                                                                realized
 Resolution of the Third Meeting Agenda
 Approved the granting of power and delegation of authority to the Company's Board of Commissioners with prior written approval
 from PT Garuda Indonesia (Persero) Tbk as the Controlling Shareholder to determine the tantiem and/or performance incentives
 for 2022 and determine the remuneration (salary/honorarium, allowances and facilities) for members of the Company's Board
 of Directors and Board of Commissioners for 2023.

 Keputusan Mata Acara Rapat Keempat                                                                                                  Keputusan
 1. Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris Perseroan untuk menunjuk Akuntan                     sudah terealisasi
    Publik Independen dari Kantor Akuntan Publik (KAP) untuk melakukan pemeriksaan atas Laporan Keuangan Konsolidasian               The resolution
    Perseroan untuk tahun buku yang berakhir tanggal 31 Desember 2023, pemeriksaan atas Laporan Keuangan Khusus                      has been
    tertentu pada tahun 2023 dan Laporan Keuangan Konsolidasian Perseroan periode lainnya pada tahun buku 2023 untuk                 realized
    tujuan dan kepentingan Perseroan;
 2. Menyetujui pemberian kuasa dan pelimpahan kewenangan kepada Dewan Komisaris Perseroan untuk menetapkan besaran
    nilai jasanya sesuai ketentuan dan peraturan yang berlaku, termasuk untuk menunjuk KAP pengganti bilamana karena sebab
    apapun juga berdasarkan ketentuan pasar modal di Indonesia apabila KAP yang ditunjuk tidak dapat melakukan tugasnya,
    dengan kriteria bahwa KAP tersebut terdaftar di Otoritas Jasa Keuangan.
 Resolution of the Fourth Meeting Agenda
 1. Approved the granting of power and delegation of authority to the Company's Board of Commissioners to appoint an
    Independent Public Accountant from the Public Accounting Firm (KAP) to conduct an examination of the Company's
    Consolidated Financial Statements for the financial year ending 31 December 2023, examination of certain Special Financial
    Statements in 2023 and the Company's Consolidated Financial Statements for other periods in the financial year 2023 for
    the purposes and interests of the Company;
 2. Approved the granting of power and delegation of authority to the Company's Board of Commissioners to determine the
    amount of the value of services in accordance with applicable rules and regulations, including to appoint a replacement
    KAP if for any reason whatsoever based on capital market regulations in Indonesia if the appointed KAP is unable to perform
    its duties, with the criteria that the KAP is registered with the Financial Services Authority.




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                                              Keputusan RUPS Tahunan Tanggal 28 Juni 2023                                              Realisasi
                                              Resolution of the Annual GMS dated June 28th, 2023                                      Realization

        Keputusan Mata Acara Rapat Kelima                                                                                           Keputusan
        Mengukuhkan pemberlakuan Peraturan Menteri Badan Usaha Milik Negara Republik Indonesia (“Permen BUMN”) sebagai berikut:     sudah terealisasi
        1. Permen BUMN Nomor PER-1/03/2023 tentang Penugasan Khusus dan Program Tanggung Jawab Sosial dan Lingkungan                The resolution
           Badan Usaha Milik Negara;                                                                                                has been
                                                                                                                                    realized
        2. Permen BUMN Nomor PER-2/03/2023 tentang Pedoman Tata Kelola dan Kegiatan Korporasi Signifikan Badan Usaha Milik
            Negara; dan
        3. Permen BUMN Nomor PER-3/03/2023 tentang Organ dan Sumber Daya Manusia Badan Usaha Milik Negara beserta
            seluruh perubahannya.
        Resolution of the Fifth Meeting Agenda
        Confirming the implementation of the Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia
        (“Permen BUMN”) as follows:
        1. BUMN Ministerial Regulation Number PER-1/03/2023 concerning Special Assignments and Social and Environmental
            Responsibility Programs for State-Owned Enterprises;
        2. BUMN Ministerial Regulation Number PER-2/03/2023 concerning Guidelines for Governance and Significant Corporate
            Activities of State-Owned Enterprises; And
        3. BUMN Ministerial Regulation Number PER-3/03/2023 concerning Organs and Human Resources of State-Owned Enterprises
            and all its amendments.




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                                       Keputusan RUPS Tahunan Tanggal 28 Juni 2023                                                 Realisasi
                                       Resolution of the Annual GMS dated June 28th, 2023                                         Realization

 Keputusan Mata Acara Rapat Keenam                                                                                             Keputusan
 1. Menyetujui untuk memberhentikan dengan hormat nama-nama tersebut di bawah ini sebagai Komisaris Perseroan yang             sudah terealisasi
     berlaku efektif sejak ditutupnya RUPST ini, dengan ucapan terima kasih atas sumbangan tenaga dan pikiran yang diberikan   The resolution
     selama memangku jabatan tersebut :                                                                                        has been
      a. Bapak Rahmat Hanafi sebagai Komisaris Utama yang diangkat pada Rapat Umum Pemegang Saham Tahunan tanggal              realized
          3 Juni 2020.
      b. Ibu Maria Kristi Endah Murni sebagai Komisaris yang diangkat kembali pada Rapat Umum Pemegang Saham Luar Biasa
          tanggal 2 September 2022.
      c. Bapak Gatot Sulistiantoro Dewa Broto sebagai Komisaris Independen yang diangkat pada Rapat Umum Pemegang
          Saham Tahunan tanggal 3 Juni 2020.
 2. Menyetujui untuk mengangkat nama di bawah ini sebagai Komisaris Perseroan yang berlaku efektif sejak ditutupnya RUPST
     ini dengan masa jabatan sesuai dengan ketentuan Anggaran Dasar Perseroan tanpa mengurangi hak RUPS untuk sewaktu-
     waktu memberhentikannya sebelum masa jabatannya berakhir, sebagai berikut:
      a. Bapak Dharmadi sebagai Komisaris Utama merangkap sebagai Komisaris Independen.
      b. Bapak Rahmat Hanafi sebagai Komisaris sekaligus pengangkatan kembali Bapak Abhan sebagai Komisaris Independen.
 3. Dengan memperhatikan keputusan butir 1 dan 2 di atas, maka susunan anggota Dewan Komisaris Perseroan terhitung sejak
     ditutupnya RUPST ini menjadi sebagai berikut:
     Dewan Komisaris
     Komisaris Utama/Independen : Sdr Dharmadi
     Komisaris : Sdr Rahmat Hanafi
     Komisaris Independen : Sdr Ali Gunawan
     Komisaris Independen : Sdr Abhan
     Komisaris Independen : Sdr Agit Atriantio
 4. Menyetujui untuk memberhentikan dengan hormat Bapak Ananta Widjaja sebagai Direktur Business & Base Operation
     Perseroan yang diangkat pada Rapat Umum Pemegang Saham Tahunan 18 Agustus 2021 yang berlaku efektif sejak
     ditutupnya RUPST ini, dengan ucapan terima kasih atas sumbangan tenaga dan pikiran yang diberikan selama memangku
     jabatan tersebut.
 5. Menyetujui untuk merubah nomenklatur Direktur Business & Base Operatiom menjadi Direktur Base Operation.
 6. Menyetujui untuk mengangkat nama-nama tersebut di bawah sebagai Direksi Perseroan yang berlaku efektif sejak ditutupnya
     RUPST ini dengan masa jabatan sesuai dengan ketentuan Anggaran Dasar Perseroan tanpa mengurangi hak RUPS untuk
     sewaktu-waktu memberhentikannya sebelum masa jabatannya berakhir, sebagai berikut:
      a. Bapak Andi Fahrurrozi sebagai Direktur Utama sekaligus pengangkatan Kembali
      b. Bapak Pudjo Sarwoko sebagai Human Capital & Corporate Affair sekaligus pengangkatan Kembali
      c. Bapak Irvan Pribadi sebagai Direktur Base Operation.
 7. Dengan memperhatikan keputusan pada butir 4 hingga 6 di atas, maka susunan anggota Direksi Perseroan terhitung sejak
     ditutupnya RUPST ini menjadi sebagai berikut:
     Direksi
     Direktur Utama : Sdr Andi Fahrurrozi
     Direktur : Sdr Salusra Satria
     Direktur Human Capital & Corporate Affair : Sdr Pudjo Sarwoko
     Direktur Line Operation : Sdr Mukhtaris
     Direktur Base Operation : Sdr Irvan Pribadi
 8. Anggota Komisaris atau Direksi yang diangkat sebagaimana pada butir 2 dan 6 yang masih menjabat pada jabatan lain yang
     dilarang oleh peraturan perundang-undangan untuk dirangkap dengan jabatan Anggota Komisaris atau Direksi, maka yang
     bersangkutan harus mengundurkan diri atau diberhentikan dari jabatannya tersebut.
 9. Menyetujui pembagian tugas dan wewenang setiap anggota Direksi Perseroan ditetapkan berdasarkan keputusan Direksi
     Perseroan setelah mendapatkan persetujuan tertulis dari Dewan Komisaris Perseroan.
 10. Memberikan kuasa dan kewenangan kepada masing-masing Direksi Perseroan dengan hak substitusi untuk menyatakan
     dalam Akta Notaris tersendiri hasil keputusan Rapat sehubungan dengan Perubahan Direksi dan Dewan Komisaris Perseroan
     dan melakukan pemberitahuan dan/atau pendaftaran mengenai perubahan susunan anggota Direksi dan Dewan Komisaris
     Perseroan kepada Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia serta tindakan-tindakan terkait lainnya
     sesuai peraturan perundang-undangan yang berlaku.




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                                              Keputusan RUPS Tahunan Tanggal 28 Juni 2023                                                      Realisasi
                                              Resolution of the Annual GMS dated June 28th, 2023                                              Realization

        Resolution of Sixth Meeting Agenda
        1. Approved to respectfully dismiss the names below as Commissioners of the Company with effect from the closing of this
            AGMS, with thanks for the contribution of energy and thoughts given while holding these positions:
             a. Mr Rahmat Hanafi as President Commissioner who was appointed at the Annual General Meeting of Shareholders on
                 3 June 2020.
             b. Mrs Maria Kristi Endah Murni as Commissioner who was reappointed at the Extraordinary General Meeting of Shareholders
                 on 2 September 2022.
             c. Mr Gatot Sulistiantoro Dewa Broto as Independent Commissioner appointed at the Annual General Meeting of
                 Shareholders on 3 June 2020.
        2. Approved to appoint the names below as Commissioners of the Company effective as of the closing of this AGMS with a
            term of office in accordance with the provisions of the Company’s Articles of Association without prejudice to the right of
            the GMS to dismiss him at any time before his term of office ends, as follows:
             a. Mr. Dharmadi as President Commissioner also serves as Independent Commissioner.
             b. Mr. Rahmat Hanafi as Commissioner as well as the re-appointment of Mr. Abhan as Independent Commissioner.
        3. Taking into account the decisions in points 1 and 2 above, the composition of the members of the Company’s Board of
            Commissioners as of the closing of this AGMS is as follows:
            board of Commissioners
            Main/Independent Commissioner: Mr. Dharmadi
            Commissioner : Mr. Rahmat Hanafi
            Independent Commissioner: Mr Ali Gunawan
            Independent Commissioner: Mr Abhan
            Independent Commissioner: Mr Agit Atriantio
        4. Approved to respectfully dismiss Mr. Ananta Widjaja as Director of Business & Base Operations of the Company who was
            appointed at the Annual General Meeting of Shareholders on 18 August 2021 which will be effective from the closing of
            this AGMS, with thanks for the contribution of energy and thoughts given during his tenure. the.
        5. Approved to change the nomenclature of the Director of Business & Base Operations to Director of Base Operations.
        6. Approved to appoint the names below as Directors of the Company effective as of the closing of this AGMS with terms
            of office in accordance with the provisions of the Company’s Articles of Association without prejudice to the rights of the
            GMS to dismiss them at any time before their term of office ends, as follows:
             a. Mr Andi Fahrurrozi as President Director and re-appointment
             b. Mr. Pudjo Sarwoko as Human Capital & Corporate Affairs as well as re-appointment
             c. Mr. Irvan Pribadi as Director of Base Operations.
        7. Taking into account the decisions in points 4 to 6 above, the composition of the members of the Company’s Board of
            Directors as of the closing of this AGMS will be as follows:
            Directors
            Main Director: Mr. Andi Fahrurrozi
            Director: Mr. Salusra Satria
            Director of Human Capital & Corporate Affairs: Mr. Pudjo Sarwoko
            Director of Line Operations: Mr. Mukhtaris
            Director of Base Operations: Mr. Irvan Pribadi
        8. Members of Commissioners or Directors appointed as in points 2 and 6 who are still serving in other positions which are
            prohibited by statutory regulations from holding the same position as Members of Commissioners or Directors, then the
            person concerned must resign or be dismissed from their position.
        9. Approve the division of duties and authority of each member of the Company’s Board of Directors to be determined based on
            the decision of the Company’s Board of Directors after obtaining written approval from the Company’s Board of Commissioners.
        10. Grant power and authority to each of the Company’s Directors with the right of substitution to declare in a separate Notarial
            Deed the results of the Meeting’s decisions regarding changes to the Company’s Directors and Board of Commissioners
            and provide notification and/or registration regarding changes to the composition of the Company’s Board of Directors
            and Board of Commissioners to the Ministry Law and Human Rights of the Republic of Indonesia as well as other related
            actions in accordance with applicable laws and regulations.




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                                                                                    DEWAN KOMISARIS
                                                                                             Board of Commissioners


Dewan Komisaris merupakan salah satu organ utama Perusahaan      The Board of Commissioners is one of the Company’s main
yang menjalankan fungsi pengawasan dan memberikan                bodies to supervise and advise the Board of Directors concerning
nasihat kepada Direksi terkait pengelolaan Perseroan. Fungsi     the management of the Company. The supervisory function
pengawasan Dewan Komisaris telah diatur dalam Undang-            of the Board of Commissioners has been regulated in Law
Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas            Number 40 of 2007 concerning Limited Liability Companies,
yang turut mempertimbangkan pencapaian visi dan tujuan           which considers the vision and business achievement and the
usaha serta implementasi GCG.                                    implementation of GCG.

KRITERIA DAN PROSEDUR PENGANGKATAN                               CRITERIA AND PROCEDURE FOR
SERTA PEMBERHENTIAN DEWAN KOMISARIS                              APPOINTMENT AND DISMISSAL OF THE
                                                                 BOARD OF COMMISSIONERS

Anggota Dewan Komisaris wajib memenuhi kriteria dan              Members of the Board of Commissioners must meet the
kualifikasi sebagaimana tertuang dalam Anggaran Dasar            criteria and qualifications as stated in the Company’s Articles
Perseroan sebagai berikut:                                       of Association as follows:
1. Mempunyai akhlak, moral, dan integritas yang baik;            1. Have good morals, ethics, and integrity;
2. Cakap melakukan perbuatan hukum;                              2. Be capable of carrying out legal actions;
3. Dalam 5 (lima) tahun sebelum pengangkatan dan selama          3. Within 5 (five) years before appointment and during office,
   menjabat tidak pernah dinyatakan pailit, tidak pernah             must have never been declared bankrupt, never been a
   menjadi anggota Direksi atau Dewan Komisaris yang                 member of the Board of Directors or Board of Commissioners
   dinyatakan bersalah dan menyebabkan suatu Perseroan               who was found guilty and caused a company to go bankrupt,
   pailit atau pernah dihukum karena melakukan tindak pidana         never been punished for committing a criminal act that
   yang merugikan keuangan, tidak pernah menjadi anggota             caused financial losses, never been a member of the Board
   Direksi dan/atau anggota Dewan Komisaris yang selama              of Directors and/or the Board of Commissioners who,
   menjabat pernah tidak menyelenggarakan RUPS Tahunan,              during their tenure, failed to hold an Annual GMS, had their
   Pertanggungjawabannya sebagai anggota Direksi dan/                accountability as a member of the Board of Directors and/
   atau anggota Dewan Komisaris pernah tidak diterima oleh           or Board of Commissioners rejected by the GMS, or failed to
   RUPS atau pernah tidak memberikan pertanggungjawaban              provide their accountability to the GMS, causing companies
   sebagai anggota Direksi dan/atau anggota Dewan Komisaris          with OJK approval or registration permits to not fulfill their
   kepada RUPS, dan pernah menyebabkan perusahaan yang               obligations to submit annual reports and/or financial reports
   memperoleh izin persetujuan atau pendaftaran dari OJK tidak       to OJK;
   memenuhi kewajiban menyampaikan laporan tahunan dan/
   atau laporan keuangan kepada OJK;
4. Memiliki komitmen untuk mematuhi peraturan perundang-         4. Have a commitment to comply with statutory regulations;
   undangan;
5. Memiliki pengetahuan dan/atau keahlian di bidang yang         5. Have knowledge and/or expertise in the field required by
   dibutuhkan perseroan.                                            the company.

Proses seleksi calon anggota Dewan Komisaris dilaksanakan        The selection process for candidates for the Board of
oleh Komite Nominasi dan Remunerasi dengan mekanisme             Commissioners is carried out by the Nomination and
sebagai berikut:                                                 Remuneration Committee with the following mechanism.
1. Pembentukan Tim Evaluasi                                      1. Establishment of Evaluation Team
   Perseroan membentuk Tim Evaluasi dengan menunjuk                 The Company forms an Evaluation Team by appointing experts
   tenaga ahli atau Lembaga Profesional untuk melakukan             or professional institutions to conduct the assessment, if
   penilaian, jika diperlukan;                                      necessary;
   a. Tim Evaluasi melakukan penjaringan dan penilaian              a. The Evaluation Team reviews and evaluates the
       terhadap Calon Direksi dan Calon Komisaris;                      Candidates for the Directors and Commissioners;
   b. Tim Evaluasi menetapkan hasil evaluasi akhir penilaian        b. The Evaluation Team determines the final evaluation
       untuk disampaikan kepada Direksi PT Garuda Indonesia             results to be submitted to the Directors of PT Garuda
       (Persero) Tbk guna menetapkan penetapan;                         Indonesia (Persero) Tbk in order to determine the
                                                                        determination;




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           c. Tim Evaluasi menetapkan hasil evaluasi akhir penilaian          c. The Evaluation Team determines the final evaluation
              untuk disampaikan kepada Direksi PT Garuda Indonesia               results to be submitted to the Directors of PT Garuda
              (Persero) Tbk guna menetapkan penetapan.                           Indonesia (Persero) Tbk in order to determine the
                                                                                 determination;

      2. Proses Penjaringan                                               2. Selection Process
         a. Tim Evaluasi menerima usulan dan mencari informasi               a. The Evaluation Team accepts proposals and seeks
             bakal calon Direksi dan bakal Calon Komisaris dari                  information on prospective Directors and prospective
             berbagai sumber;                                                    Commissioners from various sources;
         b. Tim Evaluasi melakukan seleksi berdasarkan kriteria dan          b. The Evaluation Team selects based on established criteria
             persyaratan administrasi yang ditetapkan (CV, dokumen               and administrative requirements (CV, other documents,
             lain, dan informasi yang diterima) untuk menyusun                   and information received) to compile a Candidate
             Daftar Bakal Calon (long list) sebanyak minimal 5 (lima)            Candidate List (long list) of at least 5 (five) candidates
             orang calon untuk masing-masing jabatan anggota                     for each of the directors’ positions and for positions
             Direksi dan untuk jabatan Dewan Komisaris, minimal                  Board of Commissioners, a minimum of 3 (three) times
             3 (tiga) kali lipat jumlah jabatan Dewan Komisaris yang             the number of vacant Board of Commissioners positions;
             kosong;
         c. Tim Evaluasi menyerahkan Daftar Bakal Calon (long                c. The Evaluation Team submits a Candidate List (long
             list) kepada Direksi PT Garuda Indonesia (Persero) Tbk              list) to the Directors of PT Garuda Indonesia (Persero)
             untuk memperoleh persetujuan.                                       Tbk for approval.
      3. Proses Penilaian                                                 3. Assessment Process
         a. Tim Evaluasi melakukan penilaian terhadap CV dan                 a. The Evaluation Team conducts an assessment of CVs
             wawancara bakal Calon Komisaris yang namanya                        and interviews of the Candidates for Candidates whose
             tercantum dalam Daftar Bakal Calon (long list) yang                 names are listed in the long list of candidates who have
             telah disetujui oleh Direksi PT Garuda Indonesia (Persero)          been approved by the Directors of PT Garuda Indonesia
             Tbk untuk memperoleh calon-calon terbaik yang akan                  (Persero) Tbk to obtain the best candidates to be proposed
             diusulkan kepada Direksi PT Garuda Indonesia (Persero)              to the Directors of PT Garuda Indonesia (Persero) Tbk as
             Tbk sebagai Calon Komisaris;                                        Commissioner Candidate;
         b. Tim Evaluasi menyampaikan Daftar Calon (short list)              b. The Evaluation Team submits a Candidate List (short list)
             kepada Direksi PT Garuda Indonesia (Persero) Tbk untuk              to the Directors of PT Garuda Indonesia (Persero) Tbk to
             menetapkan Calon Komisaris terpilih.                                determine the elected Candidates for Commissioners.
      4. Proses Penetapan                                                 4. Determination Process
         a. Direksi PT Garuda Indonesia (Persero) Tbk melakukan              a. The Board of Directors of PT Garuda Indonesia (Persero)
             evaluasi akhir atas hasil Penilaian untuk menetapkan                Tbk conducted a final evaluation of the results of
             1 (satu) calon Komisaris terpilih untuk jabatan Dewan               the Assessment to establish 1 (one) candidate for
             Komisaris;                                                          Commissioners elected to the Board of Commissioners
                                                                                 position;
          b.    Direksi PT Garuda Indonesia (Persero) Tbk mengajukan         b. The Directors of PT Garuda Indonesia (Persero) Tbk
                Calon Komisaris untuk ditetapkan dalam RUPS Anak                 proposed the Candidates for Commissioners to be
                Perusahaan menjadi anggota Dewan Komisaris GMF.                  determined at the GMS of Subsidiaries to become
                                                                                 members of the GMF Board of Commissioners.

      Mekanisme pemberhentian Dewan Komisaris dapat dilakukan             The mechanism for dismissing the Board of Commissioners can
      sewaktu-waktu dengan persetujuan pemegang saham setelah             be done at any time with the approval of the shareholders after
      terbukti melakukan beberapa hal sebagai berikut:                    it is proven that they have done the following:
      1. Terbukti lalai dan tidak melaksanakan tugas dengan baik;         1. Proved to be negligent and do not carry out their duties properly;
      2. Terbukti melakukan dan melanggar ketentuan peraturan             2. Proven to have committed and violated the provisions of the
         perundang-undangan yang berlaku dan/atau Anggaran Dasar;              prevailing laws and regulations and/or Articles of Association;
      3. Terbukti terlibat dalam tindakan yang merugikan Perusahaan       3. Proven to have been involved in an act that was detrimental
         dan/atau negara;                                                      to the Company and/or the state;
      4. Terbukti bersalah sebagaimana dinyatakan dalam pengadilan        4. Be proven guilty as stated in a court that has permanent
         yang memiliki kekuatan hukum yang tetap;                              legal force;
      5. Terbukti melakukan tindakan yang melanggar etika dan/atau        5. Is proven to have committed an act that violates ethics
         kepatutan sebagai anggota Dewan Komisaris; dan                        and/or appropriateness as a member of the Board of
                                                                               Commissioners; and
      6. Mengundurkan diri.                                               6. Resign.




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MASA JABATAN DEWAN KOMISARIS                                                TERM OF OFFICE OF THE BOARD OF
                                                                            COMMISSIONERS

Para anggota Dewan Komisaris diangkat dan diberhentikan oleh                The members of the Board of Commissioners are appointed
RUPS. Masa jabatan anggota Dewan Komisaris terhitung sejak                  and dismissed by the GMS. The members of the Board of
tanggal yang ditetapkan oleh RUPS yang mengangkatnya dan                    Commissioners started their work from the GMS appointment
berakhir pada penutupan RUPS Tahunan ke-3 (tiga) pada akhir                 date and ended by the time the third Annual GMS closed at the
1 (satu) periode masa jabatan yang dimaksud. Pengangkatan                   end of the first term of their tenure. The appointment of the
Dewan Komisaris dilakukan dengan memperhatikan peraturan                    Board of Commissioners is carried out according to laws and
perundang-undangan di bidang Pasar Modal dengan tidak                       regulations in the Capital Market sector, but without reducing
mengurangi hak RUPS untuk memberhentikan anggota Dewan                      the right of the GMS to, at any time, dismiss them before their
Komisaris sewaktu-waktu sebelum masa jabatannya berakhir,                   term of office ends, with consideration to the provisions of the
dengan memperhatikan ketentuan Anggaran Dasar Perusahaan.                   Articles of Association.

KOMPOSISI DEWAN KOMISARIS TAHUN 2023                                        THE COMPOSITION OF THE BOARD OF
                                                                            COMMISSIONERS IN 2023

Susunan keanggotaan Dewan Komisaris tahun 2023 telah                        The composition of the Board of Commissioners in 2023 was
ditetapkan berdasarkan keputusan RUPS Tahunan tanggal                       set according to the resolution of the Annual GMS on June
28 Juni 2023. Keanggotaan telah memenuhi ketentuan                          28, 2023. The composition has followed OJK Regulation No.
Peraturan OJK No. 33/POJK.04/2014 mengenai jumlah                           33/POJK.04/2014 which regulated the total members to
anggota Dewan Komisaris, yakni paling kurang terdiri dari                   comprise of at least 2 (two) Commissioners. Out of the 5 (five)
2 (dua) orang anggota Dewan Komisaris. Dari 5 (lima) orang                  members of the Company’s Board of Commissioners, 4 (three)
anggota Dewan Komisaris Perseroan, 4 (empat) orang menjabat                 serve as Independent Commissioners, constituting 80% of the
sebagai Komisaris Independen, atau 80% dari jumlah anggota                  total member of the Board of Commissioners. This meets the
Dewan Komisaris. Jumlah ini telah memenuhi ketentuan terkait                provisions that require Independent Commissioners to constitute
Komisaris Independen yang diwajibkan minimal 30% dari jumlah                at least 30% of the total number of Commissioners.
keseluruhan Dewan Komisaris.

Selaras dengan prinsip GCG, keahlian mayoritas anggota Dewan                In line with the principles of GCG, most members of the Board
Komisaris memiliki pengalaman dan kemampuan sesuai dengan                   of Commissioners have the experience and expertise that that
kebutuhan Perseroan.                                                        are required by the Company.

Profil seluruh anggota Dewan Komisaris dapat dilihat pada                   Profiles of all members of the Board of Commissioners are
bab Profil Perusahaan pada Laporan Tahunan Terintegrasi ini.                available in the Company Profile chapter of this Integrated
                                                                            Report.

Berikut disampaikan susunan Dewan Komisaris per 31 Desember                 Here is the information concerning the composition of the Board
2023.                                                                       of Commissioners as of December 31, 2023.


                                Kronologi Perubahan Susunan Dewan Komisaris Sepanjang Tahun 2023
                         Chronology of Changes in the Composition of the Board of Commissioners throughout 2023
    Periode 1 Januari - 27 Juni 2023            Periode 28 Juni - 31 Desember 2023                         Keterangan
     From 1 January - 27 June 2023               From 28 June – 31 December 2023                           Description

 Rahmat Hanafi                                  Dharmadi                              Diangkat sebagai Komisaris Utama/ Independen pada RUPS
 Komisaris Utama                                Komisaris Utama/Independen            tahunan tanggal 28 Juni 2023
 President Commissioner                         President Commissioner/Independent    Appointed as President Commissioner/Independent at the
                                                                                      annual GMS on 28 June 2023

 Maria Kristi Endah Murni                       Rahmat Hanafi                         Diangkat kembali sebagai Komisaris pada RUPS tahunan
 Komisaris                                      Komisaris                             tanggal 28 Juni 2023
 Commissioner                                   Commissioner                          Reappointed as Commissioner at the annual GMS on 28
                                                                                      June 2023

 Ali Gunawan                                    Ali Gunawan                           Masih menjabat (periode kedua)
 Komisaris Independen                           Komisaris Independen                  Still serving (second period)
 Independent Commissioner                       Independent Commissioner

 Gatot Sulistiantoro Dewa Broto                 Abhan                                 Diangkat sebagai Komisaris Independen pada RUPS tahunan
 Komisaris Independen                           Komisaris Independen                  tanggal 28 Juni 2023
 Independent Commissioner                       Independent Commissioner              Appointed as Independent Commissioner at the annual
                                                                                      GMS on 28 June 2023



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                                       Kronologi Perubahan Susunan Dewan Komisaris Sepanjang Tahun 2023
                                Chronology of Changes in the Composition of the Board of Commissioners throughout 2023
          Periode 1 Januari - 27 Juni 2023            Periode 28 Juni - 31 Desember 2023                             Keterangan
           From 1 January - 27 June 2023               From 28 June – 31 December 2023                               Description

        Agit Atrianto                                 Agit Atrianto                         Masih menjabat
        Komisaris Independen                          Komisaris Independen                  Still serving
        Independent Commissioner                      Independent Commissioner




                                                     Susunan Dewan Komisaris per 31 Desember 2023
                                                 Board of Commissioners Composition as of December 31, 2023
           Nama                          Jabatan                   Dasar Pengangkatan               Masa Jabatan                    Periode Jabatan
           Name                          Position                  Basis of Appointment             Term of Office                    Office Term

        Dharmadi         Komisaris Utama / Independen            Keputusan RUPS Tahunan     28 Juni 2023 - Penutupan RUPS       Pertama (sebelumnya
                         President Commissioner/Independent      tanggal 28 Juni 2023       Tahunan yang diselenggarakan        tidak pernah menjabat
                                                                 Resolution of the Annual   2026                                sebagai Komisaris
                                                                 GMS on 28 June 2023        June 28, 2023 - Closing of the      Perseroan)
                                                                                            Annual General Meeting held         First (previously never
                                                                                            in 2026                             served as the Company’s
                                                                                                                                Commissioner)

        Rahmat           Komisaris Commissioner                  Keputusan RUPS Tahunan     28 Juni 2023 - Penutupan RUPS       Kedua (sebelumnya
        Hanafi                                                   tanggal 28 Juni 2023       Tahunan yang diselenggarakan        pernah menjabat
                                                                 Resolution of the Annual   2026                                sebagai Komisaris
                                                                 GMS on 28 June 2023        June 28, 2023 - Closing of the      Perseroan)
                                                                                            Annual General Meeting held         Second (previously
                                                                                            in 2026                             served as the Company’s
                                                                                                                                Commissioner)

        Ali Gunawan      Komisaris Independen Independent        Keputusan RUPS Tahunan     20 Agustus 2021 -Penutupan          Kedua (sebelumnya
                         Commissioner                            tanggal 20 Agustus 2021    RUPS tahunan yang                   pernah menjabat
                                                                 Resolution of the Annual   diselenggarakan 2024                sebagai Komisaris
                                                                 GMS dated 20 August 2021   August 20, 2021-Closing of          Perseroan)
                                                                                            annual GMS held in 2024             Second (previously
                                                                                                                                served as the Company’s
                                                                                                                                Commissioner)

        Abhan            Komisaris Independen Independent        Keputusan RUPS Tahunan     28 Juni 2023 - Penutupan RUPS       Pertama (sebelumnya
                         Commissioner                            tanggal 28 Juni 2023       Tahunan yang diselenggarakan        tidak pernah menjabat
                                                                 Resolution of the Annual   2026                                sebagai Perseroan)
                                                                 GMS on 28 June 2023        June 28, 2023 - Closing of the      First (previously never
                                                                                            Annual General Meeting held         served as the Company’s
                                                                                            in 2026                             Commissioner)

        Agit Atriantio   Komisaris Commissioner                  Keputusan RUPS Tahunan     20 Agustus 2021 hingga              Pertama (sebelumnya
                                                                 Tahun Buku tanggal 20      Penutupan RUPST yang                tidak pernah menjabat
                                                                 Agustus 2021               diselenggarakan Tahun 2024          sebagai Perseroan)
                                                                 Decision of AGMS on        August 20, 2021 until the closing   First (previously never
                                                                 August 20, 2021            of AGMS in 2024                     served as the Company’s
                                                                                                                                Commissioner)


      KOMISARIS INDEPENDEN                                                       INDEPENDENT COMMISSIONER
      Komisaris Independen merupakan anggota Dewan Komisaris                     Independent Commissioner is a member of the Board of
      yang tidak memiliki hubungan keuangan, kepengurusan,                       Commissioners who has no financial relationship, management,
      kepemilikan saham dan/atau hubungan keluarga dengan                        share ownership and/or family relationships with members of
      anggota Dewan Komisaris, anggota Direksi dan/atau pemegang                 the Board of Commissioners, members of the Board of Directors
      saham pengendali atau dengan perusahaan yang mungkin                       and/or controlling shareholders or with a company that may
      menghalangi atau menghambat posisinya untuk bertindak                      hinder his position to act independently and objectively for
      independen dan obyektif semata-mata demi kepentingan                       the benefit of the Company based on the principles of GCG.
      Perseroan dan independen dengan berpedoman pada prinsip                    Independent Commissioner is responsible to oversee and
      GCG. Komisaris Independen bertanggung jawab untuk melakukan                represent the interests of minority shareholders.
      pengawasan dan juga mewakili kepentingan pemegang saham
      minoritas.




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Dari 5 (lima) orang anggota Dewan Komisaris Perseroan, 4               Out of the 5 (five) members of the Company’s Board of
(empat) orang menjabat sebagai Komisaris Independen atau               Commissioners, 4 (four) serve as Independent Commissioners,
80% dari jumlah keseluruhan Dewan Komisaris. Jumlah ini sesuai         constituting 80% of the total number of the Board of
dengan ketentuan terkait Komisaris Independen yang diwajibkan          Commissioners. This meets the provisions that require
minimal 30% dari jumlah keseluruhan Dewan Komisaris.                   Independent Commissioners to constitute at least 30% of the
                                                                       total number of Commissioners.

KRITERIA PENENTUAN KOMISARIS INDEPENDEN                                CRITERIA TO DETERMINE INDEPENDENT
                                                                       COMMISSIONERS
Penetapan Komisaris Independen telah mempertimbangkan                  The appointment of an Independent Commissioner has been
dan memenuhi kriteria yang diatur dalam Peraturan Otoritas             considered and fulfilled the criteria stipulated in the Financial
Jasa Keuangan Nomor 33/POJK.04/2014 tentang Direksi dan                Services Authority Regulation Number 33/POJK.04/2014
Dewan Komisaris atau Perusahaan Publik.                                concerning the Board of Directors and the Board of
                                                                       Commissioners or Public Companies.


                       Kriteria Independensi
                                                                   Dharmadi     Ali Gunawan           Abhan               Agit Atrianto
                       Independence Criteria

 Memiliki hubungan keuangan dengan anggota Dewan Komsiaris            x               x                  x                       x
 lainnya, anggota Direksi dan/atau Pemegang Saham Pengendali
 Have financial relations with other members of the Board of
 Commissioners, members of the Board of Directors and/or
 Controlling Shareholders

 Memiliki hubungan kepengurusan Perusahaan dengan anggota             x               x                  x                       x
 Dewan Komisaris lainnya, anggota Direksi, dan/atau Pemegang
 Saham Pengendali
 Have a relationship with the management of the Company with
 other members of the Board of Commissioners, members of the
 Board of Directors, and/or Controlling Shareholders

 Memiliki hubungan kepemilikan saham dengan anggota Dewan             x               x                  x                       x
 Komisaris lainnya, anggota Direksi, dan/atau Pemegang Saham
 Pengendali
 Have a stock ownership relationship with other members of the
 Board of Commissioners, members of the Board of Directors, and/
 or Controlling Shareholders

 Memiliki hubungan keluarga dengan anggota Dewan Komisaris            x               x                  x                       x
 lainnya, anggota Direksi, dan/atau Pemegang Saham Pengendali
 Have family relations with other members of the Board of
 Commissioners, members of the Board of Directors, and/or
 Controlling Shareholders

 Keterangan | Notes:
 v = ada | yes
 x = tidak ada | no


TUGAS DAN TANGGUNG JAWAB DEWAN                                         DUTIES AND RESPONSIBILITIES OF THE
KOMISARIS                                                              BOARD OF COMMISSIONERS

Sebagaimana diatur dalam Anggaran Dasar dan Pedoman Dewan              As stipulated in the Articles of Association and Board of
Komisaris, Dewan Komisaris bertugas melakukan pengawasan               Commissioners Charter, the Board of Commissioners has
terhadap kebijakan pengurusan, jalannya pengurusan pada                a task to supervise the management policies, the general
umumnya baik mengenai Perseroan maupun usaha Perseroan                 management of the Company and its business which run by
oleh Direksi, serta memberikan nasihat kepada Direksi termasuk         the Board of Directors, advising the Board of Directors that
pengawasan terhadap pelaksanaa Rencana Jangka Panjang                  includes overseeing the implementation of Long Term Plan,
Perseroan, Rencana Kerja dan Anggaran Perseroan serta                  Work Plan and Budget and the provisions of the Articles of
ketentuan Anggaran Dasar dan Keputusan Rapat Umum                      Association and the Resolutions of GMS, applicable laws and
Pemegang Saham, serta peraturan perundang-undangan yang                regulations, the interests of the Company, and following the
berlaku, kepentingan Perseroan dan sesuai dengan maksud dan            Company’s purpose and objective. Furthermore, in carrying out
tujuan Perseroan. Selanjutnya, dalam menjalankan tugasnya              its duties, the Board of Commissioners is obliged to carry out
tersebut, Dewan Komisaris berkewajiban mengemban tanggung              the following responsibilities:
jawab sebagai berikut:




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      1. Memberikan nasihat kepada Direksi dalam menjalankan           1. Advise the Directors in carrying out management and
         aktivitas pengelolaan dan pengurusan Perseroan;                  management activities of the Company;
      2. Meneliti dan menelaah serta menandatangani Rencana            2. Review and approve, and sign the Company’s Long-Term
         Jangka Panjang Perusahaan (“RJPP”) dan Rencana Kerja dan         Plan (RJPP) and the Company’s Work Plan and Budget (RKAP)
         Anggaran Perusahaan (“RKAP”) yang disusun oleh Direksi           prepared by the Directors with due regard to the values
         dengan memperhatikan nilai-nilai yang terkandung dalam           contained in the Company’s Articles of Association;
         Anggaran Dasar Perseroan;
      3. Memberikan pendapat dan saran kepada Rapat Umum               3. Provide opinions and suggestions to the General Meeting
         Pemegang Saham mengenai alasan disetujuinya RJPP dan             of Shareholders regarding the reasons for the approval of
         RKAP;                                                            the Company’s Long Term Plan (RJPP) and the Company’s
                                                                          Work Plan and Budget (RKAP);
      4. Memberikan arahan atas kepatuhan Perseroan terhadap           4. Supervising on the Company’s compliance on all agreements,
          seluruh perjanjian, perikatan dan komitmen yang dibuat          binding, and commitment with third parties;
          oleh Perseroan dengan pihak ketiga;
      5. Mengikuti perkembangan kegiatan Perseroan serta               5. Following the development of the Company’s activities as
          memberikan pendapat dan saran kepada Rapat Umum                 well as providing opinions and suggestions to the General
          Pemegang Saham mengenai masalah yang dianggap penting           Meeting of Shareholders regarding issues considered
          bagi kepengurusan Perseroan;                                    important to the management of the Company;
      6. Menyampaikan pelaporan dengan segera kepada Rapat             6. Submitting reports to the General Meeting of Shareholders
          Umum Pemegang Saham apabila terjadi gejala menurunnya           if there are symptoms of a decline in the Company’s
          kinerja Perseroan dan kejadian penting lainnya yang perlu       performance and other important events;
          diketahui oleh Rapat Umum Pemegang Saham;
      7. Mengkaji laporan berkala dan laporan tahunan yang disiapkan   7. Review periodic and annual reports prepared by the Directors
          oleh Direksi serta menandatangani Laporan Tahunan;               and sign the Annual Report;
      8. Memberikan penjelasan, pendapat, dan saran kepada Rapat       8. Provide explanations, opinions, and suggestions to the
          Umum Pemegang Saham mengenai Laporan Tahunan,                    General Meeting of Shareholders regarding the Annual
          apabila diminta;                                                 Report, if requested;
      9. Mengusulkan Akuntan Publik untuk melakukan audit Laporan      9. Propose a Public Accountant to audit the Annual Report to
          Tahunan kepada Rapat Umum Pemegang Saham;                        the General Meeting of Shareholders;
      10. Melakukan evaluasi terhadap kinerja komite yang membantu     10. Evaluate the performance of the responsible committee on
          pelaksanaan tugas dan tanggung jawabnya setiap akhir             the implementation of duties and responsibilities at every
          tahun buku;                                                      end of the year;
      11. Mengusulkan Akuntan Publik kepada Rapat Umum                 11. Propose a Public Accountant to the General Meeting of
          Pemegang Saham;                                                  Shareholders;
      12. Membuat Risalah Rapat Dewan Komisaris dan menyimpan          12. Make Minutes of Board of Commissioners’ Meetings and
          salinannya;                                                      keep a copy of them;
      13. Melaporkan kepada Perseroan mengenai kepemilikan             13. Make Minutes of Board of Commissioners’ Meetings and
          sahamnya dan/atau keluarganya pada Perseroan dan                 keep a copy of them;
          Perseroan lain;
      14. Memberikan laporan tentang tugas pengawasan yang telah       14. Provide reports on the supervisory tasks that have been
          dilakukan selama tahun buku yang baru lampau kepada              carried out during the new financial year to the General
          Rapat Umum Pemegang Saham;                                       Meeting of Shareholders;
      15. Melaksanakan kewajiban lainnya dalam rangka tugas            15. Carrying out other obligations in the context of supervisory
          pengawasan dan pemberian nasihat, sepanjang tidak                duties and providing advice, as long as it does not conflict
          bertentangan dengan peraturan perundang-undangan,                with the laws and regulations, the Articles of Association,
          Anggaran Dasar Perusahaan, dan/atau Keputusan Rapat              and/or General Meeting of Shareholders’ Resolutions.
          Umum Pemegang Saham.

      PEMBAGIAN TUGAS ANTAR DEWAN                                      DISTRIBUTION OF TASKS BETWEEN THE
      KOMISARIS                                                        BOARD OF COMMISSIONERS

      Guna menjamin efektivitas fungsi pengawasan secara               In order to ensure the effectiveness of the overall supervisory
      menyeluruh, setiap anggota Dewan Komisaris memiliki tugas dan    function, each member of the BOC has their respective duties
      tanggung jawab masing-masing sebagaimana ditetapkan dalam        and responsibilities as stipulated in the Management Contract
      Kontrak Manajemen Dewan Komisaris tanggal 05 Juli 2023.          of the BOC dated 05 July 2023. The division of duties of each
      Pembagian tugas masing-masing anggota Dewan Komisaris            member of the BOC is outlined in the following table.
      dituangkan ke dalam tabel sebagai berikut.




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                                                             Dharmadi
                                                   Komisaris Utama/ Independen
                                                President Commissioner/Independent

 1. Pengawasan Kinerja Perseroan                                  1. Monitoring the Company Performance
 2. Pengawasan GCG & Compliance                                   2. Monitoring the GCG & Compliance
 3. Pengawasan Sistem Pengendalian Internal                       3. Monitoring the Internal Control System
 4. Pengawasan Manajemen Risiko Perusahaan                        4. Monitoring the Risk Management
 5. Pengawasan RJPP & RKAP                                        5. Monitoring the RJPP & RKAP
 6. Pengawasan Nominasi & Remunerasi                              6. Monitoring the Nomination & Remuneration
 7. Pengawasan Pengelolaan SDM                                    7. Monitoring the HR Management
 8. Pengawasan Pengadaan Barang & Jasa                            8. Monitoring the Procurement of Goods & Services
 9. Pengawasan Kebijakan Mutu & Pelayanan                         9. Monitoring the Quality & Service Policy
 10. Pengawasan Pengelolaan Anak Perusahaan/Perusahaan Patungan   10. Monitoring the Management of Subsidiaries/Joint Ventures
 11. Pengawasan Sistem Teknologi Informasi                        11. Monitoring the Information Technology System

                                                         Rahmat Hanafi
                                                           Komisaris
                                                          Commissioner

 1.   Pengawasan Kinerja Perseroan                                1.   Monitoring the Company Performance
 2.   Pengawasan GCG & Compliance                                 2.   Monitoring the GCG & Compliance
 3.   Pengawasan Sistem Pengendalian Internal                     3.   Monitoring the Internal Control System
 4.   Pengawasan Manajemen Risiko Perusahaan                      4.   Monitoring the Risk Management
 5.   Pengawasan RJPP & RKAP                                      5.   Monitoring the RJPP & RKAP
 6.   Pengawasan Nominasi & Remunerasi                            6.   Monitoring the Nomination & Remuneration
 7.   Pengawasan Pengelolaan SDM                                  7.   Monitoring the HR Management

                                                          Ali Gunawan
                                                      Komisaris Independen
                                                    Independent Commissioner

 1. Pengawasan Kinerja Perseroan                                  1. Monitoring the Company Performance
 2. Pengawasan Audit Eksternal & Internal                         2. Monitoring the External & Internal Audit
 3. Pengawasan Laporan Keuangan & Standar Akuntansi               3. Monitoring the Financial Statements & Accounting Standard
 4. Pengawasan GCG & Compliance                                   4. Monitoring the GCG & Compliance
 5. Pengawasan Sistem Pengendalian Internal                       5. Monitoring the Internal Control System
 6. Pengawasan Manajemen Risiko Perusahaan                        6. Monitoring the Risk Management
 7. Pengawasan RJPP & RKAP                                        7. Monitoring the RJPP & RKAP
 8. Pengawasan Pengadaan Barang & Jasa                            8. Monitoring the Procurement of Goods & Services
 9. Pengawasan Kebijakan Mutu & Pelayanan                         9. Monitoring the Quality & Service Policy
 10. Pengawasan Pengelolaan Anak Perusahaan/Perusahaan Patungan   10. Monitoring the Management of Subsidiaries/Joint Ventures
 11. Pengawasan Sistem Teknologi Informasi                        11. Monitoring the Information Technology System

                                                          Agit Atriantio
                                                      Komisaris Independen
                                                    Independent Commissioner

 1. Pengawasan Kinerja Perseroan                                  1. Monitoring the Company Performance
 2. Pengawasan Audit Eksternal & Internal                         2. Monitoring the External & Internal Audit
 3. Pengawasan Laporan Keuangan & Standar Akuntansi               3. Monitoring the Financial Statements & Accounting Standard
 4. Pengawasan GCG & Compliance                                   4. Monitoring the GCG & Compliance
 5. Pengawasan Sistem Pengendalian Internal                       5. Monitoring the Internal Control System
 6. Pengawasan Manajemen Risiko Perusahaan                        6. Monitoring the Risk Management
 7. Pengawasan RJPP & RKAP                                        7. Monitoring the RJPP & RKAP
 8. Pengawasan Pengadaan Barang & Jasa                            8. Monitoring the Procurement of Goods & Services
 9. Pengawasan Kebijakan Mutu & Pelayanan                         9. Monitoring the Quality & Service Policy
 10. Pengawasan Pengelolaan Anak Perusahaan/Perusahaan Patungan   10. Monitoring the Management of Subsidiaries/Joint Ventures
 11. Pengawasan Sistem Teknologi Informasi                        11. Monitoring the Information Technology System

                                                             Abhan
                                                      Komisaris Independen
                                                    Independent Commissioner

 1.   Pengawasan Kinerja Perseroan                                1.   Monitoring the Company Performance
 2.   Pengawasan GCG & Compliance                                 2.   Monitoring the GCG & Compliance
 3.   Pengawasan Sistem Pengendalian Internal                     3.   Monitoring the Internal Control System
 4.   Pengawasan Manajemen Risiko Perusahaan                      4.   Monitoring the Risk Management
 5.   Pengawasan RJPP & RKAP                                      5.   Monitoring the RJPP & RKAP
 6.   Pengawasan Nominasi & Remunerasi                            6.   Monitoring the Nomination & Remuneration
 7.   Pengawasan Pengelolaan SDM                                  7.   Monitoring the HR Management
 8.   Pengawasan Sistem Teknologi Informasi                       8.   Monitoring the Information Technology System




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                                                                                                                     Corporate Governance




      PROGRAM ORIENTASI BAGI KOMISARIS BARU                            ORIENTATION PROGRAM FOR NEW
                                                                       COMMISSIONERS

      Dewan Komisaris Perseroan terdiri dari berbagai latar belakang   The Company’s Board of Commissioners comes from different
      berbeda yang merepresentasikan para pemegang saham               backgrounds representing shareholders. The Management of the
      GMF. Manajemen Perusahaan selalu mengadakan Program              Company always conducts an Introduction Program (Orientation
      Pengenalan (Program Orientasi) anggota Komisaris baru guna       Program) for new Commissioners to make the new members
      memberikan pemahaman kepada anggota baru terkait kondisi         understand the company’s current situation and receive a
      terkini Perseroan sehingga Dewan Komisaris mendapatkan           comprehensive understanding of the Company’s organization
      pemahaman yang komprehensif atas Perseroan, baik secara          and operation. The responsibility to hold the Introduction
      organisasi maupun operasional. Penanggung jawab Program          Program for new Commissioners is the Corporate Secretary.
      Pengenalan bagi Komisaris baru berada pada fungsi Sekretaris
      Perusahaan.

      Penyelenggaraan program pengenalan tersebut memuat materi        The program covers the following material:
      sebagai berikut:
      1. Pelaksanaan prinsip-prinsip Good Corporate Governance;        1. Implementation of the principles of Good Corporate
                                                                          Governance;
      2. Gambaran mengenai Perseroan berkaitan dengan tujuan,          2. Description of the Company relating to the objectives, nature
         sifat, dan lingkup kegiatan, kinerja keuangan dan operasi,       and scope of activities, financial and operating performance,
         strategi, rencana usaha jangka pendek dan jangka panjang,        strategies, short-term and long-term business plans,
         posisi kompetitif, risiko dan masalah-masalah strategis          competitive positions, risks, and other strategic issues;
         lainnya;
      3. Keterangan berkaitan dengan kewenangan yang                   3. Information relating to delegated authority, internal and
         didelegasikan, audit internal dan eksternal, sistem dan          external audit, internal control systems and policies, including
         kebijakan pengendalian internal, termasuk Komite Audit;          the Audit Committee;
      4. Keterangan mengenai tugas dan tanggung jawab Dewan            4. Information regarding the duties and responsibilities of the
         Komisaris/Dewan Pengawas dan Direksi serta hal-hal yang          Board of Commissioners/Board of Trustees and the Board of
         tidak diperbolehkan;                                             Directors as well as matters that are not permitted;
      5. Peraturan perundang-undangan yang terkait dengan              5. Legislation relating to the Company’s business activities.
         kegiatan usaha Perseroan.

      Perseroan menggelar program pengenalan bagi Dewan Komisaris      The Company held an introduction program for the new Board of
      baru yang dilakukan pada tanggal 07 Juli 2023 di PT Garuda       Commissioners on 07 July 2023 at PT Garuda Maintenance Facility
      Maintenance Facility Aero Asia Tbk. Program ini dihadiri oleh    Aero Asia Tbk. The program was attended by Mr. Dharmadi as the
      Bapak Dharmadi selaku Komisaris Utama/Independen Perseroan       Company’s President Commissioner/Independent Commissioner
      dengan periode jabatan pertama, Bapak Rahmat Hanafi selaku       with the first term of office, Mr. Rahmat Hanafi, as the Company’s
      Komisaris Perseroan dengan periode jabatan kedua.                Commissioner with the second term of office.

      PELATIHAN DAN PENINGKATAN KOMPETENSI                             BOARD OF COMMISSIONERS’ TRAINING AND
      DEWAN KOMISARIS                                                  COMPETENCY ENHANCEMENT

      Perusahaan memiliki kebijakan pengembangan kompetensi            The Company has the policy to develop the competency of the
      bagi Dewan Komisaris dengan mengikutsertakan seluruh             Board of Commissioners by including all members in training
      anggota dalam program pelatihan, workshop, dan studi banding     programs, workshops, and benchmarking studies. This training
      (benchmarking). Program pelatihan ini merupakan komitmen         program becomes the Company’s commitment to cope with
      Perseroan dalam memenuhi kebutuhan GMF yang semakin              the increasingly dynamic needs of GMF. Information regarding
      dinamis. Informasi mengenai daftar kegiatan pelatihan dan        the list of training activities and competency improvement that
      peningkatan kompetensi yang diikuti Dewan Komisaris di           the Board of Commissioners has followed throughout 2023 is
      sepanjang tahun 2023 dapat dilihat pada bab Fungsi Penunjang     available in the chapter of Business Support Function of this
      Bisnis dalam Laporan Terintegrasi ini.                           Integrated Report.

      PELAKSANAAN TUGAS DEWAN KOMISARIS                                IMPLEMENTATION OF THE BOARD OF
      TAHUN 2023                                                       COMMISSIONERS’ DUTIES IN 2023

      Pelaksanaan tugas dan tanggung jawab pengawasan Dewan            he implementation of the Board of Commissioners’ supervisory
      Komisaris telah mengacu kepada rencana kerja yang disusun        duties and responsibilities has referred to the work plan prepared
      pada awal tahun demi menjamin integritas dan keselarasan         at the beginning of the year in order to ensure the integrity and



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realisasi pelaksanaan tugas dengan rencana kerja. Realisasi       alignment of the realisation of duties with the work plan. The
tugas pengawasan yang dilaksanakan Dewan Komisaris                realisation of supervisory duties carried out by the Board of
sepanjang tahun 2023 antara lain sebagai berikut:                 Commissioners throughout 2023 included the following:
1. Memberikan persetujuan Restrukturisasi Utang dengan PT         1. Approval of Debt Restructuring with PT Bank CTBC Indonesia
    Bank CTBC Indonesia (“CTBC”);                                     (“CTBC”);
2. Memberikan persetujuan terkait dengan penunjukan Kantor        2. Approve the appointment of Public Accounting Firm and
    Akuntan Publik dan Akuntan Publik untuk melakukan audit           Public Accountant to audit the Annual Financial Statements
    atas Laporan Keuangan Tahunan Tahun Buku 2022;                    for Financial Year 2022;
3. Memberikan saran dan masukan mengenai Suply Change             3. Provide suggestions and feedback regarding Supply Change
    Management;                                                       Management;
4. Memberikan saran dan masukan mengenai Kinerja Tahun 2022;      4. Provide suggestions and feedback regarding 2022 Performance;
5. Memberikan saran dan masukan People Development 2023;          5. Provide suggestions and feedback on 2023 People Development;
6. Memberikan saran dan masukan Kinerja Bulanan 2023;             6. Provide Advice and feedback on 2023 Monthly Performance;
7. Memberikan saran dan masukan Sales Plan 2023;                  7. Provide Advice and feedback regarding 2023 Sales Plan;
8. Memberikan saran dan masukan Program Efisiensi 2023;           8. Provide Advice and feedback on 2023 Eficiency Program;
9. Memberikan saran dan masukan GMF Quality Update 2023;          9. Provide Advice and feedback on 2023 GMF Quality Update;
10. Memberikan saran dan masukan Kebijakan dan Pelaksanaan        10. Provide Advice and feedback on Policy and Risk Management
    Manajemen Risiko;                                                 Implementation;
11. Memberikan masukan dan persetujuan atas perubahan             11. Provide feedback and approval regarding holding organization
    organisasi induk;                                                 changes;
12. Memberikan rekomendasi mengenai pencapaian kinerja Direksi    12. Provide Recomendation regarding Directors Performance
    Tahun Buku 2022;                                                  Achievement on year book of 2022;
13. Memberikan rekomendasi mengenai tantiem/insentif kinerja      13. Provide recommendations regarding tantiem/performance
    dan Remunerasi Direksi dan Dewan Komisaris;                       incentives and remuneration of the Board of Directors and
                                                                      Board of Commissioners.;
14. Memberikan persetujuan atas perubahan Direktur Anak           14. Provide an approval for the change of Director of the Company’s
    Perusahaan Perseroan;                                             Subsidiaries;
15. Memberikan persetujuan atas rencana kerjasama konsorsium;     15. Provide an approval for consortium cooperation plan;
16. Memberikan persetujuan pembagian tugas dan wewenang           16. Provide an Approval of task delegation and authority also
    serta nomenklatur setiap Anggota Direksi;                         nomenclature of each member of the Board of Directors;
17. Memberikan saran dan persetujuan terhadap buku rancangan      17. Provide advice and aprroval on the draft book of the revised
    revisi rencana jangka panjang Perseroan;                          long-term plan of the Company;
18. Memberikan saran mengenai update sales plan 2023;             18. Provide advice regarding 2023 sales plan update;
19. Memberikan saran atas pelaksanaan assessment good             19. Provide advice on the implementation of good corporate
    corporate governance;                                             governance assesment;;
20. Memberikan saran atas Rancangan Rencana Kerja dan             20. Provide adcvice on Draft Company Work Plan and Budget 2024;
    Anggaran Perusahaan Tahun 2024;
21. Memberikan persetujuan terkait Kantor Akuntan Publik untuk    21. Provide an approval for Public Accountant Firm to audit the
    mengaudit Laporan Keuangan Perusahaan Tahun Buku 2023;            Company’s Financial Statements for the Financial Year 2023.;
22. Memberikan persetujuan terkait restrukturisasi utang dengan   22. provide approval related to debt restructuring with Bank BRI.
    Bank BRI.

FOKUS PENGAWASAN DEWAN KOMISARIS TAHUN                            THE BOARD OF COMMISSIONERS’ FOCUS ON
2023                                                              OVERSIGHT IN 2023
Adapun fokus pengawasan Dewan Komisaris pada tahun buku           The focus of the Board of Commissioners’ supervision for the
2023 adalah pada hal-hal yang bersifat strategis selain hal-hal   2023 financial year is to pay attention to strategic matters,
lainnya yang bersifat rutin dan jangka pendek. Dewan Komisaris    in addition to routine and short-term matters. The Board of
juga memperhatikan penanganan GCG, isu sosial, lingkungan dan     Commissioners also pays attention to the handling of GCG, social
berjalannya fungsi IT Governance, serta pengendalian internal     issues, the environment and the functioning of IT Governance
yang berbasis manajemen risiko.                                   and internal control based on risk management.

PENILAIAN KINERJA KOMITE DAN ORGAN                                ASSESSMENT OF THE COMMITTEES AND
PENDUKUNG DI BAWAH DEWAN KOMISARIS                                SUPPORTING BODIES UNDER THE BOARD OF
                                                                  COMMISSIONERS

Dewan Komisaris menjalankan tugas pengawasannya dengan            The Board of Commissioners performs the supervision with the
dibantu oleh 4 (empat) organ pendukung yaitu Sekretaris Dewan     assistance of 4 (four) supporting bodies, the Secretary of the
Komisaris, Komite Audit dan Kebijakan Corporate Governance        Board of Commissioners, the Audit and Corporate Governance



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                                                                                                                                   Corporate Governance




      (KAKCG), Komite Nominasi dan Remunerasi (KNR), dan Komite                     Committee (KAKCG), the Nomination and Remuneration
      Pengembangan usaha dan Pemantau Risiko (KPUPR). Penilaian                     Committee (KNR), and the Business Development and Risk
      kinerja masing-masing organ dilakukan dengan mengacu                          Monitoring Committee (KPUPR). The assessment of each organ is
      kepada Pedoman Tata Kelola Perusahaan Perseroan tanggal                       carried out by referring to the Company’s Corporate Governance
      29 Desember 2022 yang dilaksanakan dengan menggunakan                         Guidelines dated 29 December 2022, using relevant criteria
      kriteria dan metodologi yang relevan. Hingga akhir 2023, belum                and methodology. Until the end of 2023, there have been no
      ada peraturan baru yang mengatur mengenai kriteria dan metode                 new regulations governing the latest criteria and methods.
      terbaru. Adapun untuk Penilaian kinerja Sekretaris Dewan                      Meanwhile, the assessment of the Secretary to the Board of
      Komisaris memiliki parameter yang berbeda dengan penilaian                    Commissioners has different parameters from the committees.
      kinerja komite-komite. Berikut disampaikan parameter dan                      Below are the parameters and results of the assessment of
      hasil penilaian kinerja dari masing-masing organ pendukung.                   each supporting organ.


                                                           Penilaian Kinerja Sekretaris Dewan Komisaris
                                                      Assessment of the Secretary to the Board of Commissioners
                                        Parameter                                        Bobot               Pencapaian                    Skor
                                        Parameter                                        Weight              Achievement                   Score

        Parameter Pertama/First Paramater                                                         20%                      100%                    100%
        Sekretaris Dewan Komisaris memiliki uraian tugas yang jelas.
        The Secretary to the Board of Commissioners has a clear job description.

        Parameter Kedua/Second Paramater                                                          30%                      100%                    100%
        Sekretaris Dewan Komisaris melakukan administrasi dan penyimpanan
        dokumen.
        The Secretary to the Board of Commissioners deals with the administration
        and retention of documents.

        Parameter Ketiga/Third Paramater                                                          30%                      100%                    100%
        Sekretaris Dewan Komisaris menyelenggarakan rapat Dewan Komisaris
        dan rapat/pertemuan antara Dewan Komisaris dengan Pemegang Saham,
        Direksi maupun pihak-pihak terkait lainnya.
        The Secretary to the Board of Commissioners holds a Board of
        Commissioners meeting and a meeting between the Board of
        Commissioners and the Shareholders, Directors, and other related parties.

        Parameter Keempat/Fourth Paramater                                                        20%                      100%                    100%
        Sekretaris Dewan Komisaris menyediakan data/informasi yang diperlukan
        oleh Dewan Komisaris dan komite-komite di lingkungan Dewan Komisaris.
        The Secretary to the Board of Commissioners provides data/information
        needed by the Board of Commissioners and committees within the Board
        of Commissioners.

        Total Persentase Pencapaian                                                       Total Skor/Total Bobot *100%
                                                                                                                                                   100%
        Total Percentage of Achievement                                                   Total Score/Total Weight *100%


      Terdapat 3 (tiga) Komite yang dibentuk oleh Dewan Komisaris                   There are 3 (three) Committees established by the Board of
      sesuai dengan peraturan perundang-undangan yang berlaku                       Commissioners according to the prevailing regulations and
      dan juga sesuai dengan kebutuhan Perseroan. Berikut adalah                    the Company’s needs. The following is the parameter of the
      parameter kinerja Komite Dewan Komisaris secara umum:                         performance of the Committees in general:

      PENILAIAN KINERJA KOMITE DEWAN                                                COMMITTEES’ PERFORMANCES
      KOMISARIS

      Terdapat 3 (tiga) Komite yang dibentuk oleh Dewan Komisaris                   There are 3 (three) Committees formed by the Board of
      sesuai dengan peraturan perundang-undangan yang berlaku                       Commissioners in accordance with applicable laws and
      dan juga sesuai dengan kebutuhan Perseroan. Berikut adalah                    regulations and the Company’s needs. The following are the
      parameter dan penilaian kinerja Komite Dewan Komisaris secara                 parameters and assessments of the Board of Commissioners’
      umum atas pelaksanaan tugas yang dilaksanakan sepanjang                       Committees regarding the implementation of their duties
      tahun 2023:                                                                   throughout 2023:




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KOMITE AUDIT DAN KEBIJAKAN CORPORATE                                            COMMITTEE OF AUDIT AND CORPORATE
GOVERNANCE                                                                      GOVERNANCE
                                                       Rencana Kerja KAKCG 2023                                                         Pencapaian
   No.
                                                         KAKCG 2023 Work Plan                                                           Achievement

    A       KAKCG

    1       Membuat Program Kerja Tahunan KAKCG.                                                                                            100%
            Create a KAKCG Annual Work Program.

    2       Menyusun Piagam KAKCG serta memutakhirkannya dari waktu ke waktu sesuai dengan perkembangan bisnis dan                          100%
            kebutuhan Perseroan.
            Prepare the KAKCG Charter and update it periodically in accordance with business developments and the Company's
            needs.

    3       Membuat laporan berkala Triwulanan/setiap 3 bulan sekali dan Tahunan kepada Dewan Komisaris, yang minimal                       100%
            memuat perbandingan realisasi kegiatan dengan program kerja tahunan serta substansi hasil kegiatan dan
            rekomendasinya yang diungkapkan dalam Laporan Tahunan Perseroan.
            Prepare periodic reports quarterly (every 3 months) and annually to the Board of Commissioners, which at least
            contain a comparison of the realization of activities with the annual work program as well as the substance of the
            results of activities and recommendations disclosed in the Company's Annual Report.

    4       Membuat laporan khusus kepada Dewan Komisaris yang berisi laporan setiap temuan yang diperkirakan dapat                         100%
            mengganggu efektivitas Perseroan.
            Prepare a special report to the Board of Commissioners containing a report on any findings that are expected to
            disrupt the effectiveness of the Company.

    B       Audit

    1       Melakukan penelaahan atas informasi keuangan yang akan dikeluarkan Perseroan kepada publik dan/atau pihak                       100%
            otoritas antara lain laporan keuangan, proyeksi, dan laporan lainnya terkait dengan informasi keuangan Perseroan.
            Review financial information to be released by the Company to the public and/or authorities, including financial
            reports, projections, and other reports related to the Company's financial information.

    2       Melakukan penelaahan atas ketaatan terhadap peraturan perundang-undangan yang berhubungan dengan                                100%
            kegiatan Perseroan, Anggaran Dasar, dan perjanjian dengan pihak ketiga.
            Review compliance with laws and regulations relating to the Company's activities, Articles of Association, and
            agreements with third parties.

    3       Memberikan pendapat independen dalam hal terjadi perbedaan pendapat antara Manajemen dan Akuntan atas                           100%
            jasa yang diberikannya.
            Provide independent opinions in the event of differences of opinion between Management and Accountants
            regarding the services provided.

    4       Memberikan rekomendasi kepada Dewan Komisaris mengenai penunjukkan Akuntan yang didasarkan pada                                 100%
            independensi, ruang lingkup penugasan, dan imbalan jasa.
            Provide recommendations to the Board of Commissioners regarding the appointment of an Accountant based on
            independence, scope of assignment, and compensation for services.

    5       Melakukan pemeriksaan oleh auditor internal dan auditor eksternal serta mengawasi pelaksanaan tindak lanjut                     100%
            oleh penelaahan atas pelaksanaan Direksi atas temuan auditor internal dan auditor eksternal.
            Conduct inspections by internal auditors and external auditors and supervise the implementation of follow-up
            actions by reviewing the Board of Directors' implementation of the findings of internal auditors and external auditors.

    6       Melakukan penelaahan atas efektivitas sistem pengendalian intern dan efektivitas pelaksanaan tugas auditor                      100%
            internal dan auditor eksternal.
            Review the effectiveness of the internal control system and the effectiveness of carrying out the duties of internal
            auditors and external auditors.

    7       Menelaah pengaduan yang berkaitan dengan proses akuntansi dan pelaporan keuangan Perseroan.                                      N/A
            Review complaints related to the Company's accounting and financial reporting processes.

    8       Menelaah dan memberikan saran kepada Dewan Komisaris terkait dengan adanya potensi benturan kepentingan                          N/A
            Emiten atau Perusahaan Publik.
            Review and provide advice to the Board of Commissioners regarding potential conflicts of interest of Issuers or
            Public Companies.

            Tata Kelola Perusahaan yang Baik (GCG)
    C
            Good Corporate Governance (GCG)

    1       Meninjau dan melakukan telaah atas penerapan prinsip‐prinsip dan persyaratan‐persyaratan tata kelola yang berlaku               100%
            di Perseroan serta memastikan bahwa prinsip‐prinsip dan persyaratan‐persyaratan tersebut masih relevan serta telah
            dilaksanakan sepenuhnya di Perseroan.
            Review and evaluate the implementation of governance principles and requirements within the Company to ensure
            that these principles and requirements remain relevant and are fully implemented.




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                                                                                                                                     Corporate Governance




                                                            Rencana Kerja KAKCG 2023                                                      Pencapaian
         No.
                                                              KAKCG 2023 Work Plan                                                        Achievement

           2      Memantau dan melakukan telaah atas penerapan prinsip‐prinsip tata kelola perusahaan yang baik dalam pengelolaan             100%
                  dan pengurusan Perseroan, memastikan dilakukannya penilaian/assessment dan evaluasi/self‐assessment atas
                  implementasi tata kelola perusahaan yang baik dan memastikan tindak lanjut atas rekomendasi perbaikan hasil
                  assessment atau self‐assessment tahun sebelumnya.
                  Monitor and review the implementation of good corporate governance principles in the management and
                  administration of the Company, ensuring that assessments and evaluations, including self-assessments, are
                  conducted on the implementation of good corporate governance and that follow-up actions are taken based on
                  the recommendations from the previous year's assessments or self-assessments.

                  Lainnya
          D
                  Others

           1      Melaksanakan tugas lain yang diberikan oleh Dewan Komisaris sepanjang masih dalam lingkup tugas dan kewajiban               100%
                  Dewan Komisaris berdasarkan Anggaran Dasar dan Keputusan Rapat Umum Pemegang Saham (RUPS) serta
                  ketentuan perundang-undangan yang berlaku.
                  Perform other tasks assigned by the Board of Commissioners, provided they fall within the scope of the duties and
                  obligations of the Board of Commissioners as outlined in the Articles of Association and Resolutions of the General
                  Meeting of Shareholders (GMS), as well as applicable statutory provisions.

           2      Melakukan self-assesment terhadap kinerja masing-masing anggota KAKCG.                                                      100%
                  Conduct a self-assessment of the performance of each KAKCG member.


      KOMITE NOMINASI DAN REMUNERASI                                                COMMITTEE OF NOMINATION AND
                                                                                    REMUNERATION
                                                            Program Kerja Triwulan                                                      Pencapaian
         No
                                                            Quarterly Work Program                                                      Achievement

          1      Melakukan penelaahan dan pemantauan untuk memastikan bahwa Perseroan telah memiliki strategi dan kebijakan                  100%
                 nominasi, meliputi proses analisis organisasi, prosedur, dan kriteria rekrutmen, seleksi, dan promosi.
                 Carry out reviews and monitoring to ensure that the Company has a nomination strategy and policy, including
                 organizational analysis processes, procedures, and criteria for recruitment, selection, and promotion.

          2      Rekomendasi nama calon Direksi Perseroan kepada Dewan Komisaris yang kemudian diusulkan kepada RUPS.                        N/A
                 Recommend candidates for the Company's Directors to the Board of Commissioners, who then propose the
                 names to the General Meeting of Shareholders (GMS).

          3      Memastikan bahwa Perseroan telah memiliki sistem remunerasi yang transparan berupa gaji atau honorarium,                    100%
                 tunjangan, dan fasilitas yang bersifat tetap dan insentif yang bersifat variabel.
                 Ensure that the Company has a transparent remuneration system, including fixed salaries or honorariums,
                 allowances, facilities, and variable incentives.

          4      Melakukan penelaahan atas permohonan Direksi terkait Nominasi sesuai Anggaran Dasar Perseroan.                              100%
                 Review the Board of Directors' requests regarding nominations in accordance with the Company's Articles of
                 Association.

          5      Menyusun rencana kerja KNR.                                                                                                 100%
                 Prepare a KNR work plan.

          6      Membuat laporan berkala Triwulanan/setiap 3 bulan sekali kepada Dewan Komisaris.                                            100%
                 Prepare periodic reports quarterly (every 3 months) to the Board of Commissioners.

          7      Melaksanakan rapat periodik sekurang-kurangnya 1 kali dalam 4 bulan.                                                        100%
                 Hold periodic meetings at least once every 4 months.

          8      Melakukan self-assesment terhadap kinerja anggota KNR.                                                                      100%
                 Conduct self-assessments of the performance of KNR members.




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KOMITE PENGEMBANGAN USAHA DAN                                               COMMITTEE OF NOMINATION AND
PEMANTAUAN RISIKO                                                           REMUNERATION
                                                           Program Kerja                                                          Pencapaian
   No
                                                           Work Program                                                           Achievement

    1       Melakukan kajian dan evaluasi atas pengembangan usaha MRO.                                                                100%
            Conduct studies and evaluations of MRO business development.

    2       Melakukan kajian dan evaluasi atas kecukupan kebijakan, konsistensi praktik pengelolaan risiko, dan efektivitas           100%
            tindakan mitigasi.
            Conduct studies and evaluations on the adequacy of policies, consistency of risk management practices, and
            effectiveness of mitigation actions.

    3       Memberikan rekomendasi perbaikan atas praktik pengelolaan dan penanganan risiko Perseroan.                                100%
            Provide recommendations for improvements to the Company's risk management and mitigation practices.

    4       Melaksanakan tugas lain yang diberikan oleh Dewan Komisaris sepanjang masih dalam ruang lingkup tugas dan                 100%
            kewajiban Dewan Komisaris berdasarkan ketentuan yang berlaku.
            Carry out other tasks assigned by the Board of Commissioners within the scope of its duties and obligations
            based on applicable regulations.

    5       Menyusun rencana kerja KPUPR tahun 2023.                                                                                  100%
            Prepare a KPUPR work plan for 2023.

    6       Membuat laporan berkala Triwulanan/setiap 3 bulan sekali kepada Dewan Komisaris.                                          100%
            Prepare periodic reports quarterly (every 3 months) to the Board of Commissioners.

    7       Melaksanakan rapat periodik sekurang-kurangnya 1 kali dalam 3 bulan.                                                      100%
            Hold periodic meetings at least once every 3 months.

    8       Melakukan self-assesment terhadap kinerja anggota KPUPR.                                                                  100%
            Conduct a self-assessment of the performance of KPUPR members.




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                                                                                                                    Corporate Governance




      DIREKSI
      Board of Directors


      Direksi merupakan organ Perseroan yang bertugas, secara         The Board of Directors is a Company’s body that has a collegial
      kolegial, menjalankan fungsi pengurusan dan pengelolaan         duty to manage the Company. The Board of Directors works
      Perseroan. Direksi bekerja sesuai dengan target usaha yang      according to business targets in the current year’s RKAP and
      terdapat dalam RKAP tahun berjalan dan menyampaikan             submits the business performance to the GMS through Financial
      hasil pencapaian kinerja usaha kepada RUPS melalui Laporan      Statements and Integrated Reports.
      Keuangan dan Laporan Terintegrasi.

      KRITERIA DAN PERSYARATAN ANGGOTA                                CRITERIA AND REQUIREMENTS FOR MEMBERS
      DIREKSI [2-10]                                                  OF THE BOARD OF DIRECTORS [2-10]

      Perseroan memiliki kriteria persyaratan calon anggota Direksi   The Company has criteria for candidates of the Board of Directors
      yang terdapat dalam Board Manual. Kriteria dan persyaratan      contained in the Board Manual. Criteria and requirements for
      calon Anggota Direksi Perseroan sebagaimana yang tercantum      prospective Members of the Company’s Board of Directors, as
      di bawah ini:                                                   listed below:
      1. Mempunyai akhlak, moral, dan integritas yang baik;           1. Having good character, morals and integrity;
      2. Cakap melakukan perbuatan hukum;                             2. Capable of performing legal actions;
      3. Dalam 5 (lima) tahun sebelum pengangkatan dan selama         3. Within 5 (five) years before his appointment and during
          menjabat:                                                       his tenure:
          a. tidak pernah dinyatakan pailit;                              a. never been declared bankrupt;
          b. tidak pernah menjadi anggota Direksi dan/atau                b. never been a member of the Board of Directors and/or
             anggota Dewan Komisaris yang dinyatakan bersalah                  member of the Board of Commissioners who was found
             menyebabkan suatu perusahaan dinyatakan pailit;                   guilty of causing a company to be declared bankrupt;
          c. tidak pernah dihukum karena melakukan tindak pidana           c. never been punished for committing a crime that is
             yang merugikan keuangan negara dan/atau yang                      crucial to state finances and/or related to the financial
             berkaitan dengan sektor keuangan; dan                             sector; and
          d. tidak pernah menjadi anggota Direksi dan/atau anggota        d. has never been a member of the Board of Directors
             Dewan Komisaris yang selama menjabat:                             and/or a member of the Board of Commissioners who’s
                                                                               during his tenure:
               • pernah tidak menyelenggarakan RUPS Tahunan;                   • never held an Annual GMS;
               • pertanggungjawabannya sebagai anggota Direksi                 • his responsibilities as members of the Board
                 dan/atau anggota Dewan Komisaris pernah tidak                    of Directors and/or members of the Board of
                 diterima oleh RUPS atau pernah tidak memberikan                  Commissioners has never been accepted by the GMS
                 pertanggungjawaban sebagai anggota Direksi dan/                  or failed to provide accountability as members of the
                 atau anggota Dewan Komisaris kepada RUPS;                        Board of Directors and/or members of the Board of
               • pernah menyebabkan perusahaan yang memperoleh                    Commissioners to the GMS;
                 izin, persetujuan, atau pendaftaran dari OJK tidak            • has caused a company that has obtained a license,
                 memenuhi kewajiban menyampaikan laporan                          approval or registration from the OJK not fulfilled its
                 tahunan dan/atau laporan keuangan kepada OJK;                    obligation to submit annual reports and/or financial
                                                                                  reports to OJK;
      4. Memiliki komitmen untuk mematuhi peraturan perundang-        4. Have a commitment to comply with laws and regulations;
         undangan; dan                                                    And
      5. Memiliki pengetahuan dan/atau keahlian di bidang yang        5. Have knowledge and/or expertise in the fields required by
         dibutuhkan Perseroan.                                            the Company.

      SUKSESI DIREKSI [2-10]                                          SUCCESSION POLICY FOR THE BOARD OF
                                                                      DIRECTORS [2-10]

      Perseroan memiliki kebijakan suksesi Direksi untuk memastikan   The Company has a succession policy for the Board of Directors
      adanya kaderisasi kepemimpinan yang berorientasi pada kinerja   to have a performance-oriented cadre with leadership quality
      untuk mengembangkan usaha GMF. Direksi yang ditunjuk harus      to grow the business. The appointed Board of Directors must
      lulus Penilaian Kelayakan dan Kepatutan (Fit & Proper Test)     pass the Fit & Proper Test as stipulated in the prevailing laws
      sesuai dengan peraturan perundang-undangan yang berlaku.        and regulations. The appointment of candidates for the Board



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Pengangkatan calon Direksi Perseroan berpegangan kepada                                      of Directors refers to the Regulation of the State Minister for
Peraturan Menteri Negara Badan Usaha Milik Negara No. PER-                                   State-Owned Enterprises No. PER-03/MBU/2012 concerning
03/MBU/2012 tentang Pedoman Pengangkatan Anggota Direksi                                     Guidelines for the Appointment of Members of the Board
dan Anggota Dewan Komisaris Anak Perusahaan Badan Usaha                                      of Directors and Members of the Board of Commissioners
Milik Negara dan Anggaran Dasar Perseroan.                                                   of Subsidiaries of State-Owned Enterprises and Articles of
                                                                                             Association.



                    Pembentukan
                    Tim Evaluasi                       Proses Penjaringan                       Proses penilaian                      Proses penetapan
                   Evaluation Team                     Searching Process                       Assessment process                   Determination process
                      Formation

            •    Tim evaluasi menunjuk            •   Tim evaluasi menerima              •     Tim evaluasi melakukan           •   Direksi PT Garuda Indonesia
                 tenaga ahli atau lembaga             usulan dan mencari                       penilaian terhadap CV dan            Tbk, melakukan evaluasi
                 professional untuk                   informasi bakal calon direksi            wawancara bakal calon                akhir atas hasil penilaian
                 melakukan penilaian, jika            dari berbagai sumber                     Direksi yang namanya                 untuk menetapkan 1 (satu)
                 diperlukan                       •   Tim evaluasi melakukan                   tercantum dalam daftar               calon Direksi terpilih untuk
            •    Tim evaluasi melakukan               seleksi berdasarkan                      bakal calon (long list) yang         jabatan anggota Direksi
                 penjaringan dan penilaian            kriteria dan persyaratan                 telah disetujui oleh Direksi     •   Direksi PT Garuda Indonesia
                 terhadap calon direksi               administrasi yang                        PT Garuda Indonesia Tbk,             Tbk, mengajukan calon
            •    Tim evaluasi menyiapkan              ditetapkan (CV, Dokumen                  sebagai calon direksi                direksi untuk ditetapkan
                 hasil evaluasi akhir yang            lain dan informasi yang            •     Tim evaluasi menyampaikan            dalam RUPS anak
                 telah ditetapkan oleh                diterima) untuk menyusun                 daftar calon (short list)            perusahaan menjadi anggota
                 Direksi PT Garuda Indonesia          daftar bakal calon (long list)           yang terdiri dari 3 (tiga)           direksi GMF
                 Tbk, guna disampaikan                sebanyak minimal 5 (lima)                orang untuk masing-masing        •   Keputusan pemegang saham
                 oleh Direksi PT Garuda               orang calon untuk masing-                jabatan anggota direksi              baik di dalam RUPS maupun
                 Indonesia Tbk, Kepada                masing jabatan anggota                   dengan ranking nilai terbaik         di luar RUPS menetapkan
                 Dewan Komisaris dan atau             Direksi                                  kepada direksi PT Garuda             calon Direksi terpilih sebagai
                 Menteri Negara BUMN, Jika        •   Tim Evaluasi menyerahkan                 Indonesia Tbk, untuk                 anggota direksi GMF
                 diperlukan                           daftar bakal calon (long                 menetapkan calon Direksi         •   The board of directors of PT
            •    Evaluation team designates           list) kepada Direksi PT                  terpilih                             Garuda Indonesia Tbk, shall
                 experts or professional              Garuda Indonesia Tbk. untuk        •     The evaluation team reviews          conduct a final evaluation
                 institution for assessment, if       memperoleh persetujuan                   the CV and conduct interview         pf the assessment result to
                 necessary.                       •   Evaluation team accepts                  on candidates under the Long         determine 1 (one) selected
            •    Evaluation team performs             the proposal and seeks the               List of the Board of Directors       prospective for the position
                 assessment and evaluation            information on candidates                which has been approved by           of the board of directors
                 to candidate of directors            various sources                          the Board of Directors of PT     •   The board of directors of PT
                                                •     Evaluation team selects                  Garuda Indonesia Tbk                 Garuda Indonesia Tbk, shall
            •    Evaluation team prepares
                 the final evaluation result          based on established               •     The Evaluation Team submits          propose the prospective
                 set forth by the Board of            criteria and administrative              a short list consisting 3            directors to be stipulated
                 directors of PT Garuda               requirements (CV, other                  (three) person for each              in the GMS of subsidiary
                 Indonesia (Persero) Tbk to the       documents, and information               member position of the               to become the member of
                 board of Commissioners and           received) to prepare                     Board Directors of Garuda            GMF’s board of directors
                 the state minister of Does, if       a minimum of 5 (five)                    Indonesia Tbk, to establish      •   The decision of the
                 necessary                            candidates (list/long list) for          the elected Candidates of the        shareholders either on the
                                                      each member of the board of              Board Directors                      GMS or outside the elected
                                                      directors                                                                     directors as member of the
                                                  •   The evaluation team submits                                                   GMF’s board of directors
                                                      a candidate list (long list ) to
                                                      the board of directors of PT
                                                      Garuda Indonesia (Persero)
                                                      Tbk for Approval




Suksesi Direksi juga tidak terlepas dari adanya anggota Direksi                              The succession is also applicable if a Director was dismissed or
yang diberhentikan ataupun mengundurkan diri karena berbagai                                 resigned due to various reasons. However, the Company owns
alasan. Akan tetapi, Perseroan sendiri telah memiliki mekanisme                              a mechanism to dismiss the Directors if the person in question
pemberhentian Direksi apabila yang bersangkutan terbukti:                                    proves the following:
1. Terbukti tidak dapat memenuhi kewajibannya yang telah                                     1. Proven unable to fulfill its obligations agreed in the
    disepakati dalam Kontrak Manajemen;                                                          Management Contract;
2. Terbukti tidak dapat melaksanakan kewajibannya dengan                                     2. Proven unable to carry out its obligations properly;
    baik;
3. Terbukti tidak melaksanakan peraturan perundang-                                          3. Proven not implementing the laws and regulations or
    undangan dan/atau ketentuan yang dimuat dalam Anggaran                                      provisions contained in the Company’s Articles of Association;
    Dasar Perusahaan;


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246                                                                                                                        Tata Kelola Perusahaan
                                                                                                                            Corporate Governance




      4. Terbukti terlibat dalam tindakan yang merugikan Perseroan             4. Proven involvement in actions that are detrimental to the
         dan/atau Negara;                                                         Company and/or the State;
      5. Terbukti melakukan tindakan yang melanggar etika dan/atau             5. Proven conduct of actions that violate the Ethics and/or
         kepatutan yang menjadi kewajiban seluruh anggota Direksi;                propriety that are the obligations of all members of the
                                                                                  Board of Directors;
      6. Terbukti bersalah berdasarkan keputusan pengadilan yang               6. Proven guilty based on a court decision that has permanent
         memiliki kekuatan hukum yang tetap; dan                                  legal force; and
      7. Mengundurkan diri.                                                    7. Resign.

      Mekanisme pengangkatan calon Direksi ataupun pemberhentian               The appointment of a candidate or dismissal of a Director is
      Direksi dilakukan melalui RUPS dengan persetujuan pemegang               made through the GMS with the approval from the shareholders.
      saham.

      MASA JABATAN DIREKSI                                                     TERM OF OFFICE FOR THE BOARD OF
                                                                               DIRECTORS

      Para anggota Direksi diangkat dan diberhentikan oleh RUPS.               The members of the Board of Directors are appointed and
      Pengangkatan anggota Direksi berlaku untuk jangka waktu                  dismissed by the GMS. The members of the Board of Directors
      terhitung sejak tanggal pengangkatan oleh RUPS dan berakhir              start working from the date they were appointed by the GMS
      pada penutupan RUPS Tahunan ke-3 (tiga) pada akhir 1 (satu)              and ended by the time of the third Annual GMS ended during
      periode masa jabatan yang dimaksud dan dapat diangkat kembali            their first term and can be reappointed for another term. The
      untuk 1 (satu) kali masa jabatan. Masa jabatan Direksi berlaku           working period of the Board of Directors refers to the laws and
      sesuai dengan peraturan perundang-undangan di bidang Pasar               regulations in the Capital Market sector without reducing the
      Modal, namun demikian dengan tidak mengurangi hak RUPS                   right of the GMS to dismiss, at any time, any member of the
      untuk memberhentikan anggota Direksi sewaktu-waktu sebelum               Board of Directors before his ends, with consideration to the
      masa jabatannya berakhir, dengan memperhatikan ketentuan                 provisions of the Articles of Association.
      Anggaran Dasar Perseroan.

      KOMPOSISI DIREKSI TAHUN 2023 [2-11]                                      THE COMPOSITION OF THE BOARD OF
                                                                               DIRECTORS IN 2023 [2-11]

      Komposisi Direksi ditetapkan sesuai dengan tingkat kompleksitas          The composition of the Board of Directors is determined in
      kegiatan bisnis Perseroan dan struktur organisasi untuk                  accordance with the level of complexity of the Company’s
      memastikan terjadinya pengambilan putusan yang efektif, tepat,           business activities and organisational structure to ensure
      dan cepat untuk tujuan usaha. Jumlah anggota Direksi setidaknya          effective, appropriate and prompt decision-making for business
      berjumlah 1 (one) orang, yang terdiri dari seorang Direktur              purposes. The number of members of the Board of Directors is
      Utama yang ditetapkan dalam Rapat Umum Pemegang Saham.                   at least 1 (one) person, consisting of a President Director who
                                                                               is appointed in the General Meeting of Shareholders.

      Komposisi Direksi pada tahun 2023 telah ditetapkan berdasarkan           The composition of the Board of Directors in 2023 has been
      keputusan RUPS Tahunan tanggal 28 Juni 2023. Berikut                     decided through the resolution of the Annual GMS dated June
      disampaikan susunan Direksi per 31 Desember 2023 dan pada                28, 2023. The following is the composition of the Board of
      saat Laporan Terintegrasi ini ditandatangani dan diterbitkan.            Directors as of December 31, 2023, and as of this Integrated
      Profil seluruh anggota Direksi dapat dilihat pada bab Profil             Report was signed and published. Profiles of all members of the
      Perusahaan pada Laporan Terintegrasi ini.                                Board of Directors are available in the Company Profile chapter
                                                                               of this Integrated Report.


                                            Kronologi Perubahan Susunan Direksi Sepanjang Tahun 2023
                                   Chronology of Changes in the Composition of the Board of Directors throughout 2023
              Periode 1 Januari - 28 Juni 2023            Periode 28 Juni - 31 Desember 2023                        Keterangan
               From 1 January - 28 June 2023                From 28 June - 31 December 2023                         Desccription

        Andi Fahrurrozi                                Andi Fahrurrozi                             Masih menjabat (periode kedua)
        Direktur Utama                                 Direktur Utama                              Still serving (second period)
        CEO                                            CEO

        Ananta Widjaja                                 Irvan Pribadi                               Ananta Widjaja tidak lagi menjabat sejak RUPS
        Direktur Business & Base Operation             Direktur Base Operation                     Tahunan Tahun Buku 2022 tanggal 28 Juni
        Director of Business & Base Operations         Director of Base Operations                 2023 serta nomenklatur Direktur Business &
                                                                                                   Base Operation diubah menjadi Direktur Base
                                                                                                   Operation


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                                     Kronologi Perubahan Susunan Direksi Sepanjang Tahun 2023
                            Chronology of Changes in the Composition of the Board of Directors throughout 2023
       Periode 1 Januari - 28 Juni 2023                  Periode 28 Juni - 31 Desember 2023                            Keterangan
        From 1 January - 28 June 2023                      From 28 June - 31 December 2023                             Desccription

 Mukhtaris                                            Mukhtaris                                       Masih menjabat (periode pertama)
 Direktur Line Operation                              Direktur Line Operation                         Still serving (first period)
 Director of Line Operation                           Director of Line Operation

 Salusra Satria                                       Salusra Satria                                  Masih menjabat (periode pertama)
 Direktur Keuangan                                    Direktur Keuangan                               Still serving (first period)
 Director of Finance                                  Director of Finance

 Pudjo Sarwoko                                        Pudjo Sarwoko                                   Masih menjabat (periode kedua)
 Direktur Human Capital & Corporate Affairs           Direktur Human Capital & Corporate Affairs      Still serving (second period)
 Director of Human Capital & Corporate Affairs        Director of Human Capital & Corporate Affairs


                                                       Susunan Direksi per 31 Desember 2023
                                                Board of Directors Composition as of December 31, 2023
                                                                                                                                         Periode
     Nama               Jabatan                          Dasar Pengangkatan                              Masa Jabatan
                                                                                                                                         Jabatan
     Name               Position                         Basis of Appointment                            Term of Office
                                                                                                                                        Office Term

 Andi             Direktur Utama          Keputusan RUPS Tahunan tanggal 28 Juni 2023.         28 Juni 2023 hingga penutupan            Kedua
 Fahrurrozi       CEO                     Resolution of the Annual GMS on 28 June 2023.        RUPS Tahunan yang diselenggarakan        Second
                                                                                               tahun 2026
                                                                                               June 28, 2023 until the closing of the
                                                                                               Annual GMS held in 2026

 Salusra Satria   Direktur Keuangan       Keputusan RUPS Tahunan tanggal 2 September           2 September 2022 hingga Penutupan        Pertama
                  Director of Finance     2022                                                 RUPS Tahunan yang diselenggarakan        First
                                          Resolution of the Annual GMS on September 2, 2022.   tahun 2025.
                                                                                               September 2, 2022 until the Closing
                                                                                               of the Annual GMS in 2025.

 Irvan Pribadi    Direktur Base           Keputusan RUPS Tahunan tanggal 28 Juni 2023.         28 Juni 2023 hingga penutupan            Pertama
                  Operation               Resolution of the Annual GMS on 28 June 2023.        RUPS Tahunan yang diselenggarakan        First
                  Director of Base                                                             tahun 2026
                  Operation                                                                    June 28, 2023 until the closing of the
                                                                                               Annual GMS held in 2026

 Pudjo            Direktur Human          Keputusan RUPS Tahunan tanggal 28 Juni 2023.         28 Juni 2023 hingga penutupan            Kedua
 Sarwoko          Capital & Corporate     Resolution of the Annual GMS on 28 June 2023.        RUPS Tahunan yang diselenggarakan        Second
                  Affairs                                                                      tahun 2026
                  Director of Human                                                            June 28, 2023 until the closing of the
                  Capital & Corporate                                                          Annual GMS held in 2026
                  Affairs

 Mukhtaris        Direktur Line           Keputusan RUPS Tahunan tanggal 2 September           2 September 2022 hingga Penutupan        Pertama
                  Operation               2022                                                 RUPS Tahunan yang diselenggarakan        First
                  Director of Line        Resolution of the Annual GMS on September 2, 2022.   tahun 2025.
                  Operation                                                                    September 2, 2022 until the Closing
                                                                                               of the Annual GMS in 2025.


TUGAS DAN TANGGUNG JAWAB DIREKSI                                                DUTIES AND RESPONSIBILITIES OF THE
[2-12, 2-13]                                                                    BOARD OF DIRECTORS [2-12, 2-13]

WEWENANG DIREKSI                                                                THE AUTHORITIES OF THE BOARD OF DIRECTORS
Direksi berwenang untuk menetapkan kebijakan pengurusan                         The Board of Directors is authorized to determine the policy of
Perseroan yang meliputi:                                                        the Company’s management as follows:
1. Menetapkan kebijakan pengurusan Perseroan;                                   1. Determine the Company’s management policies;
2. Mengatur penyerahan kekuasaan Direksi untuk mewakili                         2. Arrange the transfer of powers of the Board of Directors
   Perseroan di dalam dan di luar Pengadilan kepada seorang                        to represent the Company inside and outside the Court to
   atau beberapa orang anggota Direksi yang khusus ditunjuk                        one or several members of the Board of Directors specially
   untuk itu kepada seorang atau beberapa orang pekerja                            appointed for that to one or several employees of the
   Perseroan baik secara sendiri-sendiri maupun bersama-                           Company either individually or jointly or to other people
   sama atau kepada orang lain dan mengatur penyerahan                             and arrange the transfer of power of the Board of Directors
   kekuasaan Direksi untuk mewakili Perseroan kepada Kepala                        to represent the Company to Heads of Branches or Heads
   Cabang atau Kepala Perwakilan di dalam atau di luar negeri;                     of Representatives within or outside the country;


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                                                                                                                   Corporate Governance




      3. Mengatur ketentuan-ketentuan tentang kepegawaian             3. Regulate the provisions regarding the Company’s
         Perseroan, termasuk penetapan gaji, pensiun atau jaminan        employment, including the determination of salaries,
         hari tua dan penghasilan lain bagi pekerja Perseroan            pensions or old age benefits and other income for the
         berdasarkan peraturan perundang-undangan yang berlaku           Company’s employees based on the prevailing laws and
         dan keputusan Rapat Umum Pemegang Saham;                        regulations and resolutions of the General Meeting of
                                                                         Shareholders;
      4. Mengangkat dan memberhentikan pekerja Perusahaan             4. Appoint and dismiss Company employees based on the
         berdasarkan peraturan kepegawaian Perseroan dan                 Company’s employment regulations and prevailing laws
         peraturan perundang-undangan yang berlaku;                      and regulations;
      5. Mengangkat dan memberhentikan Sekretaris Perusahaan;         5. Appoint and dismiss the Corporate Secretary;
      6. Melakukan segala tindakan dan perbuatan lainnya mengenai     6. Perform all actions and other actions regarding the
         pengurusan maupun pemilikan kekayaan Perseroan,                 management and ownership of the Company’s assets, bind
         mengikat Perseroan dengan pihak lain dan/atau pihak lain        the Company with other parties and/or other parties with
         dengan Perseroan, serta mewakili Perseroan di dalam dan         the Company, and represent the Company inside and outside
         di luar Pengadilan tentang segala hal dan segala kejadian,      the Court on all matters and all events, with restrictions as
         dengan pembatasan sebagaimana diatur dalam peraturan            stipulated in the regulations laws and regulations, Articles
         perundang-undangan, Anggaran Dasar dan/atau Keputusan           of Association and/or Resolutions of the General Meeting
         Rapat Umum Pemegang Saham;                                      of Shareholders;
      7. Membentuk komite dalam rangka mendukung efektivitas          7. Form a committee to support the effectiveness of duties
         tugas dan tanggung jawab (jika diperlukan).                     and responsibilities (if needed).

      TANGGUNG JAWAB DIREKSI                                          THE RESPONSIBILITIES OF THE BOARD OF
                                                                      DIRECTORS
      1. Setiap anggota Direksi bertanggung jawab penuh atas tugas    1. Each member of the Board of Directors is fully responsible
         pengurusan yang dilaksanakanya;                                 for the management tasks that are carried out;
      2. Setiap anggota Direksi bertanggung jawab penuh secara        2. Each member of the Board of Directors is fully responsible
         tanggung renteng atas kerugian Perseroan yang disebabkan        jointly and severally for the Company’s losses caused by
         oleh kesalahan atau kelalaian anggota Direksi dalam             mistakes or negligence members of the Board of Directors
         menjalankan tugasnya;                                           in carrying out their duties;
      3. Anggota Direksi tidak dapat dipertanggungjawabkan atas       3. Members of the Board of Directors cannot be held responsible
         kerugian Perseroan sebagaimana dimaksud pada butir 1            for the Company’s losses as referred to in item 1 if they can
         apabila dapat membuktikan:                                      prove:
         a. Kerugian tersebut bukan karena kesalahan atau                a. The loss is not due to an error or negligence;
             kelalaiannya;
         b. Telah melakukan pengurusan degan itikad baik dan             b. Having taken care of good faith and prudence for the
             kehati-hatian untuk kepentingan dan sesuai dengan              benefit and in accordance with the aims and objectives
             maksud dan tujuan Perseroan;                                   of the Company;
         c. Tidak memiliki benturan kepentingan baik langsung            c. Does not have a conflict of interest either directly or
             maupun tidak langsung atas tindaan pengurusan yang             indirectly over the management action resulting in a loss;
             mengakibatkan kerugian;
         d. Telah mengambil tindakan untuk mencegah timbul atau          d. Have taken actions to prevent such losses arising or
             berlanjutnya kerugian tersebut.                                  continuing.
      4. Direksi dan Dewan Komisaris bertanggung jawab secara         4. Actions taken by members of the Board of Directors outside
         tanggung renteng atas kerugian Perseroan apabila Pemegang       those decided by the Board of Directors Meeting shall be
         Saham tidak dapat mengembalikan dividen interim yang            the personal responsibility of those concerned until such
         telah didistribusi.                                             actions are approved by the Board of Directors’ Meeting.

      RUANG LINGKUP PEMBAGIAN TUGAS DAN                               SEGREGATION OF DUTIES AND
      TANGGUNG JAWAB DIREKSI [2-12, 2-13]                             RESPONSIBILITIES AMONG DIRECTORS [2-12,
                                                                      2-13]

      Dalam mengoptimalkan fungsi pengelolaan Perseroan yang          In optimizing the management function of the Company by the
      dijalankan Direksi, setiap anggota Direksi memiliki pembagian   Board of Directors, each member of the Board of Directors has
      tugas dan tanggung jawab sesuai dengan bidang keahlian          his own duties and responsibilities according to his expertise to
      masing-masing untuk menciptakan efektivitas pelaksanaan         make the Board of Directors work effectively. The segregation
      tugas Direksi secara menyeluruh. Pembagian lingkup tugas        of the scope of duties among Directors is in line with the Decree
      antar Direksi sejalan dengan Surat Keputusan Organisasi Induk   of the Parent Organization No. DT/SKEP-5009/23 on August
      No. DT/SKEP-5009/23 tanggal 2 Agustus 2023 sebagai berikut:     2, 2023, as follows:



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                                                                   Andi Fahrurrozi
                                                                   Direktur Utama
                                                                        CEO

 •   Menjamin efektivitas pengurusan dan pengelolaan Perseroan,               •   Ensure the effectiveness of the management and management
     termasuk penentuan arah dan strategi Perseroan, pengelolaan strategi         of the Company, including the determination of the Company’s
     bisnis, pengelolaan anak usaha, Penyusunan organisasi Perseroan              direction and strategy, management of business strategy,
     lengkap dengan perincian dan tugasnya, perumusan sumber daya                 management of subsidiaries, preparation of the Company’s
     strategis dan pengelolaan Standar Operating Procedures (“SOP”),              organisation complete with details and duties, formulation of
     pengelolaan & pengembangan teknologi informasi, mewujudkan                   strategic resources and management of Standard Operating
     terjadinya pencapaian penjualan dan pemasaran dengan strategi                Procedures (“SOP”), management & development of information
     yang tepat, pengelolaan customer service dan aspek-aspek komersial           technology, realising the achievement of sales and marketing with
     lainnya, penjaminan kualitas dan kelaikudaraan, audit internal,              appropriate strategies, management of customer service and other
     pengelolaan komunikasi, administrasi dan kesekretariatan Perseroan,          commercial aspects, quality assurance and airworthiness, internal
     pengawasan terhadapp kepatuhan dalam penyelenggaraan Perseroan,              audit, communication management, administration and secretariat
     perlindungan hukum bagi Perseroan dan layanan kontrak Perseroan              of the Company, supervision of compliance in the operation of the
     yang dilaksanakan sesuai dengan aspek-aspek hukum agar sejalan               Company, legal protection for the Company and the Company’s
     dengan penerapan prinsip-prinsip Tata Kelola Perusahaan yang Baik            contractual services carried out in accordance with legal aspects
     (Good Corporate Governance/GCG), sehingga mampu mendukung                    in line with the implementation of the principles of Good Corporate
     jalannya bisnis PT Garuda Maintenance Facility Aero Asia Tbk sekaligus       Governance (GCG), so as to support the running of PT Garuda
     pertumbuhan bisnisnya.                                                       Maintenance Facility Aero Asia Tbk’s business as well as its business
                                                                                  growth.

 •   Unit satu tingkat di bawah Direksi yang bertanggung jawab langsung       •   The supporting units one level below the Board of Directors who
     kepada Direktur Utama adalah Vice President (VP) Corporate Strategy          reports directly to the President Director are the Vice President
     & Business Development, VP Sales & Marketing, VP Corporate                   (VP) of Corporate Strategy & Business Development, VP of Quality
     Secretary & Legal, VP Quality Assurance & Safety, dan VP Internal            Assurance & Safety, VP of Internal Audit and VP of Corporate
     Audit.                                                                       Secretary & Legal.

                                                                 Pudjo Sarwoko
                                                   Direktur Human Capital & Corporate Affairs
                                                   Director of Human Capital & Corporate Affairs

 •   Menjamin efektivitas pengurusan, pengelolaan dan pengembangan            •   nsure the effectiveness of management, management and
     sumber daya manusia serta budaya Perseroan, kegiatan pelatihan dan           development of human resources and the Company’s culture,
     manajemen pengetahuan, pengelolaan dukungan kerumahtanggaan,                 training and knowledge management activities, management
     pemeliharaan dan layanan fasilitas, pengadaan dan pemenuhan                  of housekeeping support, maintenance and facility services,
     kebutuhan material baik aircraft parts maupun yang bersifat general          procurement and fulfilment of material needs for both aircraft
     (non related aircraft part), dan pengelolaan material serta Pusat            parts and general (non-related aircraft parts), and management of
     Logistik Berikat (PLB) dan asset Perseroan, sehingga berjalan sesuai         materials and Bonded Logistics Centres (PLB) and the Company’s
     dengan persyaratan dan ketentuan otoritas yang berlaku, serta mampu          assets, so that they run in accordance with the requirements and
     mendukung jalannya bisnis PT Garuda Maintenance Facility Aero Asia           provisions of the applicable authorities, and are able to support the
     Tbk sekaligus pertumbuhan bisnisnya.                                         running of PT Garuda Maintenance Facility Aero Asia Tbk’s business
                                                                                  as well as its business growth.
 •   Unit yang berada satu tingkat di bawah Direksi yang menjalankan          •   Unit one level below the Board of Directors who reports directly
     fungsi memberi dukungan dan bertanggung jawab langsung kepada                to the Director of Human Capital & Corporate Affairs are the Vice
     Direktur Human Capital & Corporate Affairs adalah VP Human Capital           President (VP) of Human Capital Management, VP of Corporate
     Management, VP Corporate Affairs & HSE, dan VP Material & Logistic           Affairs & HSE, VP of Material & Logistic Services.
     Services.

                                                                    Salusra Satria
                                                                 Direktur Keuangan
                                                                 Director of Finance

 •   Menjamin efektivitas pengurusan dan pengelolaan keuangan                 •   Ensure the effectiveness of the management and financial
     Perseroan termasuk analisis aktivitas keuangan pada tingkat korporasi        management of the Company including the analysis of financial
     yang mungkin berdampak pada kinerja operasional dan strategi                 activities at the corporate level that may have an impact on the
     organisasi, sehingga mampu mendukung jalannya bisnis PT Garuda               operational performance and strategy of the organisation, so as to
     Maintenance Facility Aero Asia Tbk sekaligus pertumbuhan bisnisnya.          support the running of PT Garuda Maintenance Facility Aero Asia
                                                                                  Tbk’s business as well as its business growth.
 •   Unit yang berada satu tingkat di bawah Direksi yang menjalankan          •   The units at one level below the Board of Directors that provide
     fungsi memberi dukungan dan bertangung jawab langsung kepada                 support and are directly responsible to the Finance Director are
     Direktur Keuangan adalah VP Accounting, VP Treasury Management,              VP Accounting, VP Treasury Management, and VP Financial &
     dan VP Financial & Management Accounting.                                    Management Accounting.




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                                                                                                                                        Corporate Governance




                                                                           Mukhtaris
                                                                    Direktur Line Operation
                                                                    Director of Line Operation

        •   Menjamin efektivitas pengurusan dan pengelolaan Perseroan               •   Ensure the effectiveness of the management and management
            khususnya operasional perawatan pesawat pada line operation,                of the Company, especially aircraft maintenance operations in line
            perawatan lini kabin pesawat, perencanaan perawatan pesawat,                operations, aircraft cabin line maintenance, aircraft maintenance
            serta jasa engineering sesuai bisnis utama Perseroan, sehingga mampu        planning, and engineering services in accordance with the
            mendukung jalannya bisnis PT Garuda Maintenance Facility Aero Asia          Company’s main business, so as to support the running of PT
            Tbk sekaligus pertumbuhan bisnisnya.                                        Garuda Maintenance Facility Aero Asia Tbk’s business as well as
                                                                                        its business growth.
        •   Unit satu tingkat di bawah Direksi yang bertanggung jawab langsung      •   Units one level below the Board of Directors that report directly
            kepada Direktur Line Operation adalah VP Line Maintenance, VP               to the Director of Line Operations are VP Line Maintenance, VP
            Maintenance Planning, dan VP Engineering Services.                          Maintenance Planning, and VP Engineering Services.

                                                                         Irvan Pribadi
                                                                   Direktur Base Operation
                                                                   Director of Base Operation

        •   Menjamin efektivitas pengurusan dan pengelolaan Perseroan dalam         •   Ensure the effectiveness of the Company’s management in the
            operasional perawatan rangka pesawat (airframe), mesin (engine) dan         maintenance operations of aircraft airframes, engines and Auxiliary
            Auxiliary Power Unit (APU) pesawat, komponen, peralatan aircraft            Power Units (APU), components, aircraft support equipment (such as
            support (seperti Ground Support Equipment), serta produk-produk             Ground Support Equipment), as well as industrial solutions products
            industrial solutions (seperti power services, fabrikasi, dan lainnya)       (such as power services, fabrication, and others) to support aircraft
            untuk menunjang operasional perawatan pesawat, sehingga mampu               maintenance operations, so as to support the running of PT Garuda
            mendukung jalannya bisnis PT Garuda Maintenance Facility Aero Asia          Maintenance Facility Aero Asia Tbk’s business as well as its business
            Tbk sekaligus pertumbuhan bisnisnya.                                        growth.
        •   Unit satu tingkat di bawah Direksi yang bertanggung jawab langsung      •   Units one level below the Board of Directors that report directly to the
            kepada Direktur Base Operation adalah VP Wide Body Base                     Director of Base Operations are VP Wide Body Base Maintenance, VP
            Maintenance, VP Narrow Body Base Maintenance, VP Engine Services,           Narrow Body Base Maintenance, VP Engine Services, VP Component
            VP Component Services, dan VP Aircraft Support & Power Services.            Services, and VP Aircraft Support & Power Services.



      PROGRAM ORIENTASI BAGI DIREKSI BARU                                           ORIENTATION PROGRAM FOR NEW
                                                                                    DIRECTORS

      Seperti anggota Dewan Komisaris yang baru, Direksi yang                       Just like the new members of the Board of Commissioners, the
      baru menjabat juga mengikuti Program Pengenalan (Program                      newly appointed Directors also participated in the Induction
      Orientasi) yang untuk memberikan pemahaman terkait kondisi                    Program (Orientation Program) to give them an understanding
      terkini Perseroan. Diharapkan melalui program ini, Direksi yang               of the current situation of the Company. Hopefully, through
      baru akan mendapatkan pemahaman yang komprehensif akan                        this program, the new Directors will gain a comprehensive
      keadaan operasional dan organisasi Perseroan. Seperti Program                 understanding of the operational conditions and organization
      Pengenalan Dewan Komisaris, fungsi Sekretaris Perusahaan juga                 of the Company. The same with the Board of Commissioners
      bertanggung jawab untuk melaksanakan Program Pengenalan                       Introduction Program, the Corporate Secretary function is also
      untuk Direksi baru. Materi Program Pengenalan kepada Direksi                  responsible for conducting the Introduction Program for new
      baru mencakup:                                                                Directors. The material for the Introduction includes:
      1. Pelaksanaan prinsip-prinsip Good Corporate Governance.                     1. Implementation of the principles of Good Corporate Governance.
      2. Gambaran mengenai Perseroan berkaitan dengan tujuan,                       2. Description of the Company relating to the objectives, nature
          sifat, dan lingkup kegiatan, kinerja keuangan dan operasi,                    and scope of activities, financial and operating performance,
          strategi, rencana usaha jangka pendek dan jangka panjang,                     strategies, short-term and long-term business plans,
          posisi kompetitif, risiko dan masalah-masalah strategis                       competitive positions, risks and other strategic issues.
          lainnya.
      3. Kewenangan yang didelegasikan, audit internal dan eksternal,               3. Delegated authority, internal and external audit, internal
          sistem dan kebijakan pengendalian internal, termasuk Komite                  control systems and policies, including the Audit Committee.
          Audit.
      4. Tugas dan tanggung jawab Dewan Komisaris dan Direksi                       4. Duties and responsibilities of the Board of Commissioners
          serta hal-hal yang tidak diperbolehkan.                                      and Directors as well as matters that are not allowed.

      Dengan adanya perubahan komposisi dan susunan Direksi pada                    With a change in the composition of the Board of Directors
      tahun 2023, Perseroan menggelar pengenalan untuk Direktur                     in 2023, the Company held an introduction program for new
      baru yang dilakukan pada tanggal 7 Juli 2023 di Tangerang.                    Director on July 7, 2023 in Tangerang. This program was attended
      Acara ini dihadiri oleh Direktur baru GMF yaitu Sdr. Irvan Pribadi.           by the new Director of GMF, Mr. Irvan Pribadi.




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PELATIHAN DAN PENINGKATAN KOMPETENSI                                  BOARD OF DIRECTORS’ TRAINING AND
DIREKSI [2-17]                                                        COMPETENCY ENHANCEMENT [2-17]

Perseroan memiliki kebijakan untuk mengikutsertakan Direksi           The Company has a policy to get the Board of Directors into
dalam berbagai program pelatihan dan pengembangan                     various training and competency development programs through
kompetensi berupa seminar, diklat, workshop , hingga                  seminars, training, workshops, and benchmarking. Increasing
benchmarking. Peningkatan kompetensi Direksi menjadi hal yang         the competence of the Board of Directors is important to meet
penting untuk menjaga tingkat pemenuhan kebutuhan Perseroan           the Company’s needs amidst business dynamics and as an
di tengah dinamika bisnis, sekaligus sebagai sebuah upaya             effort to create a sustainable business. The types of training
untuk menciptakan keberlangsungan usaha yang berkelanjutan.           mainly covers the Capital Market, GCG, Financial Statements,
Jenis pelatihan yang diberikan antara lain terkait Pasar Modal,       Underwriting, and studies with other leading MROs, both
pelatihan GCG, Pelaporan Keuangan, Penjaminan Emisi Efek,             national and international. Information regarding the list of
hingga studi banding dengan MRO terkemuka lainnya baik yang           training activities and competency improvement that the Board
bertaraf nasional dan internasional. Informasi mengenai daftar        of Directors has followed throughout 2023 is available in the
kegiatan pelatihan dan peningkatan kompetensi yang diikuti            chapter of Business Support Function of this Integrated Report.
Direksi sepanjang tahun 2023 dapat dilihat pada bab Fungsi
Penunjang Bisnis dalam Laporan Terintegrasi ini.

PELAKSANAAN TUGAS DIREKSI TAHUN 2023                                  IMPLEMENTATION OF THE BOARD OF
                                                                      DIRECTORS’ DUTIES IN 2023

Sepanjang tahun 2023, Direksi telah menjalankan tugasnya dalam        Throughout 2023, the Board of Directors has carried out its
mengelola pengelolaan Perseroan sebagaimana tertuang dalam            duties in managing the Company according to the Work Plan
Rencana Kerja dan Anggaran Perusahaan (RKAP) yang telah               and Budget (RKAP) that has been prepared. One of the duties
disusun. Salah satu realisasi pelaksanaan tugas Direksi tahun 2023    of the Board of Directors in 2023 includes the issuance of
termasuk penerbitan berbagai keputusan, dimana pengambilan            various decisions, which are made through internal meetings
keputusannya dilakukan melalui mekanisme rapat internal maupun        or joint meetings with the Board of Commissioners. The Board
rapat gabungan dengan Dewan Komisaris. Hasil keputusan Direksi        of Directors’ decision was issued by the President Director. The
dikeluarkan oleh Direktur Utama. Hasil keputusan Direksi sepanjang    Board of Directors’ decree throughout 2022 were as follows:
tahun 2022 antara lain sebagai berikut:


         Anggota Direksi                              No. Keputusan                                  Perihal
     Member of Board of Direkctors                    Decree Number                                  Subject

 Direktur Utama                                 DT/ SKEP-5009/23       Organisasi Induk PT Garuda Maintenance facility Aero Asia Tbk
 CEO                                                                   Parent Organization of PT Garuda Maintenance facility Aero Asia Tbk

                                                DT/SKEP-5001/23        Project Management Financial Data Reliability

                                                DT/SKEP-5003/23        Pengangkatan Project Manager Pengelolaan Project Reaktivasi dan
                                                                       Restorasi Airframe, Engine, APU, dan Landing Gear Garuda Indonesia
                                                                       2023
                                                                       Appointment of Project Manager on the Management of Reactivation
                                                                       and Restoration of Airframe, Engine, APU, and Landing Gear of Garuda
                                                                       Indonesia in 2023

                                                DT/SKEP-5004/23        Tim Material Management
                                                                       Material Management Team

                                                DT/SKEP-5005/23        Tim Material Planning Improvement
                                                                       Material Planning Improvement Team

                                                DT/SKEP-5006/23        Project Management Improvement Area Kepabeanan (BC) dan
                                                                       Perpajakan
                                                                       Project Management Improvement Area on Custom (BC) and Tax

                                                DT/SKEP-5007/23        Project Management Pengembangan Kapabilitas SIP Pesawat
                                                                       C130 & Monitoring Military Project untuk Engine/Module/Parts/SIP
                                                                       Maintenance
                                                                       Project Management of SIP C130 Aircraft Capability Development &
                                                                       Military Project Monitoring for Engine/Module/Parts’ SIP Maintenance

                                                DT/SKEP-5008/23        Project Management Quality Assurance & Safety Support

                                                DT/SKEP-5011/23        Tim Program Inovasi Prototipe Remote Monitoring & Predictive
                                                                       Maintenance Peralatan “Water Cooled Chiller”
                                                                       Remote Monitoring & Predictive Maintenance Prototype Innovation
                                                                       Program Team for “Water Cooled Chiller”


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                Anggota Direksi                                No. Keputusan                                           Perihal
            Member of Board of Direkctors                      Decree Number                                           Subject

                                                      DT/SKEP-5012/23                   Tim Program Inovasi Pengembangan dan Inovasi Multipurpose Electric
                                                                                        Vehicle RC Pushback Menuju Kemandirian Pengelolaan Ground
                                                                                        Handling Pesawat dan Berbagai Moda Transportasi
                                                                                        Multipurpose Electric Vehicle RC Pushback Development and
                                                                                        Innovation Program Team Towards Independent Ground Handling
                                                                                        Management for Aircraft and Various Modes of Transportation

                                                      DT/SKEP-5013/23                   Pembentukan Tim Vendor Negotiation
                                                                                        Formation of Vendor Negotiation Team

                                                      DT/SKEP-5014/23                   Tim Percepatan Penyelesaian Progress Billing Open
                                                                                        Team for Accelerating Completion of Open Billing Progress

        Direktur Base Operation                       -                                 -
        Director of Base Operations

        Direktur Human Capital & Corporate            DC/SKEP-5197/23                   Project Management Business and Operation
        Affairs
        Director of Human Capital & Corporate         DC/SKEP-5032/23                   Project Management Rookie Development Program
        Affairs

        Direktur Keuangan                             -                                 -
        Director of Finance

        Direktur Line Operation                       -                                 -
        Director of Line Operation


      PENILAIAN KINERJA KOMITE DAN ORGAN                                               ASSESSMENT OF THE COMMITTEES AND
      PENDUKUNG DI BAWAH DIREKSI                                                       SUPPORTING BODIES UNDER THE BOARD OF
                                                                                       DIRECTORS
      Direksi menjalankan tugasnya dengan dibantu oleh empat organ                     The Board of Directors carries out its duties with the assistance of
      pendukung yaitu Corporate Secretary & Legal, Audit Internal,                     four supporting bodies, including the Corporate Secretary & Legal,
      Financial & Risk Analysis, serta Quality Assurance & Safety.                     Internal Audit, Financial & Risk Analysis, and Quality Assurance
      Evaluasi pelaksanaan tugas masing-masing organ didasarkan                        & Safety. According to the work program, the assessment of
      pada Key Performance Indikator (KPI) berdasarkan hasil kerja                     each supporting body is based on Key Performance Indicators
      individu sesuai program kerja. Direksi tidak memiliki komite lain                (KPI) of individual work. The Board of Directors does not have
      selain organ pendukung tersebut di atas.                                         any other committees other than those supporting bodies.


                                                                   Fungsi Organ Pendukung Direksi
                                                          Function of the Board of Directors’ Supporting Bodies
        Corporate Secretary & Legal             Corporate Secretary & Legal dibentuk dengan mengacu kepada Keputusan Sekretaris Kementerian Badan
                                                Usaha Milik Negara No.SK-16/S.MBU/2012 tentang Indikator Parameter Penilaian dan Evaluasi Atas Penerapan
                                                Tata Kelola Perusahaan yang Baik (Good Corporate Governance) pada BUMN untuk menjaga alur komunikasi
                                                antar organ Perseroan dan dengan pemangku kepentingan.
                                                The Corporate Secretary & Legal was formed based on the Decree of the Secretary of the Ministry of State-
                                                Owned Enterprises No.SK-16/S.MBU/2012 concerning Indicators of Assessment and Evaluation Parameters of
                                                the Implementation of Good Corporate Governance in SOE to maintain the flow of communication between
                                                the internal bodies and the Company with its stakeholders.

        Audit Internal                          Audit Internal dibentuk untuk membantu Direksi memaksimalkan efektivitas pengendalian intern atas kegiatan
        Internal Audit                          operasi. Audit Internal menjalankan fungsi sebagai assurance and consultant melalui pendekatan sistematik
                                                dan obyektif melalui aktivitas evaluasi dan penilaian terhadap keefektifan dan efisiensi sistem pengendalian
                                                internal, pengelolaan risiko, serta penerapan GCG atas kegiatan strategis dan operasional.
                                                An internal Audit was formed to help the Board of Directors optimize the effectiveness of internal control
                                                over the operation. Internal Audit acts as an assurance and a consultant through a systematic and objective
                                                approach with an evaluation and assessment of the effectiveness and efficiency of the internal control system,
                                                risk management, and the implementation of GCG for strategic and operational activities.

        Financial Management Accounting         Bidang Risk Management yang merupakan bagian dari Financial & Management Accounting bertugas
                                                membantu Direksi dalam menerapkan manajemen risiko Perseroan secara tepat dan efisien sesuai referensi
                                                dari kerangka kerja ISO 31000.
                                                Risk Management, part of Financial & Management Accounting works to assist the Board of Directors in
                                                implementing the Company's risk management appropriately and efficiently according to ISO 31000 framework.




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                                                         Fungsi Organ Pendukung Direksi
                                                Function of the Board of Directors’ Supporting Bodies
 Quality Assurance & Safety              Quality Assurance & Safety bertugas membantu Direksi menjaga dan meningkatkan kepuasan pelanggan.
                                         Pelayanan perawatan pesawat yang diberikan GMF selalu disesuaikan dengan regulasi otoritas global seperti
                                         DKUPPU, EASA, FAA, dan lainnya dan Quality Assurance & Safety membantu Direksi untuk menjaga kepatuhan
                                         Perseroan terhadap berbagai standar tersebut.
                                         Quality Assurance & Safety has an objective to help the Board of Directors maintain and improve customer
                                         satisfaction. The aircraft maintenance services from GMF are always adjusted to global authorities such as
                                         DKUPPU, EASA, FAA, and others, and Quality Assurance & Safety helps the Board of Directors maintain the
                                         Company's compliance with these various standards.


                                            Hasil Kinerja Organ Pendukung Direksi Tahun 2023
                                     Assessment of the Supporting Bodies of the Board of Directors in 2023
                                                                                                                                   Pencapaian
  No.                                    Key Performance Indicator (KPI)                                        Target
                                                                                                                                   Achievement

 Corporate Secretary & Legal

    1.     Budget Realization                                                                                   90.71%                  110%

   2.      Customer SLA Fulfillment – Supporting                                                                 100%                  100%

   3.      Corporate Social Responsibility                                                                       100%                   110%

   4.      Corporate Reputation Management                                                                       100%                   92%

   5.      Compliance Index                                                                                      100%                 98.96%

   6.      Continuous Improvement Program                                                                        100%                  100%

   7.      Legal & Compliance                                                                                    100%                  100%

   8.      Stakeholder Relations Management                                                                        2                    50%

   9.      Human Capital Readiness                                                                                95%                   91%

   10.     Organizational Capital Readiness                                                                       85%                  100%

 Internal Audit

    1.     Budget Realization                                                                                   90.71%                  95%

   2.      Internal Customer Satisfaction Index                                                                   3.75                 106%

   3.      Closure of Audit Action Items                                                                          75%                  100%

   4.      Percent Completed vs Planned Audit                                                                     50%                  100%

   5.      GRC                                                                                                   100%                  100%

   6.      Asset Management                                                                                      100%                  100%

   7.      Continuous Improvement                                                                                  2                   100%

   8.      Human Capital Readiness (HCR)                                                                          95%                  97.74%

   9.      Organization Capital Readiness (OCR)                                                                   85%                  100%

 Financial & Management Accounting

    1.     Budget Realization                                                                                   90.71%                  95%

   2.      Financial Statement Reporting                                                                         100%                  100%

   3.      Customer Satisfaction Index                                                                             4                    88%

   4.      Approved Corporate Budget                                                                             100%                  100%

   5.      GRC                                                                                                   100%                   95%

   6.      Corporate Finance Service Level                                                                       100%                  100%

   7.      Tax Compliance                                                                                        100%                  100%

   8.      Asset Management                                                                                      100%                  100%

   9.      COGS Rate & Profitability                                                                              95%                  100%

   10.     Price Effectiveness                                                                                    95%                  100%




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                                                                                                                               Corporate Governance




                                                    Hasil Kinerja Organ Pendukung Direksi Tahun 2023
                                             Assessment of the Supporting Bodies of the Board of Directors in 2023
                                                                                                                                    Pencapaian
         No.                                     Key Performance Indicator (KPI)                                 Target
                                                                                                                                    Achievement

          11.    Invoice Process & Clearing Performance                                                              100%                100%

         12.     A/P A/R Transaction Readiness                                                                       95%                 100%

         13.     Continuous Improvement                                                                               2                  100%

         14.     Investment Planning & Control                                                                       100%                100%

         15.     ERM Effectiveness                                                                                   1.00                99%

         16.     Business Data Quality                                                                               100%                100%

          17.    Human Capital Readiness (HCR)                                                                       95%                 100%

         18.     Organization Capital Readiness (OCR)                                                                85%                98.20%

         19.     Information Capital Readiness (ICR)                                                                 85%                97.06%

        Quality Assurance & Safety

          1.     Budget Realization                                                                              90.71%                  100%

          2.     Approval Rating                                                                                     100%                100%

          3.     Customer Satisfaction Index                                                                          4                  95%

          4.     Performance Fulfillment                                                                             95%                 100%

          5.     Effectiveness of Finding & Recommendation                                                           95%                 100%

          6.     GRC                                                                                                 100%                100%

          7.     Asset Management                                                                                    100%                100%

          8.     DQI Control                                                                                         100%                100%

          9.     Continuous Improvement                                                                               2                  100%

         10.     Human Capital Readiness (HCR)                                                                       95%                 100%

          11.    Organization Capital Readiness (OCR)                                                                85%                 100%




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 INFORMASI LAINNYA TENTANG DEWAN KOMISARIS DAN
                                       DIREKSI
                                    Other Information About the Board of Commissioners and Directors




PEDOMAN KERJA DEWAN KOMISARIS DAN                                     BOARD MANUAL OF THE BOARD OF
DIREKSI                                                               COMMISSIONERS AND DIRECTORS

Dewan Komisaris dan Direksi Perseroan menjalankan tugas dan           The Board of Commissioners and the Board of Directors do their
tanggung jawabnya dengan mengacu kepada Pedoman dan Tata              duties and responsibilities according to the approved Board
Tertib Kerja Dewan Komisaris dan Direksi yang telah disetujui dalam   Charter at the GMS. The Board Charter becomes a reference for
RUPS. Penerapan Pedoman sebagai acuan tata laksana kerja Dewan        the Board to work and also a joint commitment of all members
Komisaris dan Direksi merupakan komitmen bersama seluruh              to ensure the effectiveness and efficiency of the Company’s
anggota guna menjamin efektivitas dan efisiensi pelaksanaan           supervisory and management functions.
fungsi pengawasan dan pengelolaan Perseroan.

Penyusunan Pedoman Kerja Dewan Komisaris dan Direksi                  The Board Charter follows the provision in the prevailing rules and
telah dilakukan sesuai peraturan dan ketentuan yang berlaku.          regulations. The Company constantly reviews the contents of the
Perseroan senantiasa meninjau ulang isi dari Pedoman Kerja            Board Charter and makes changes, if necessary, according to the
dan melakukan perubahan, jika diperlukan, sesuai dengan               Company’s needs and developments in applicable regulations.
kebutuhan Perseroan dan perkembangan regulasi yang berlaku.           The Board of Commissioners Manual was last approved and
Adapun Pedoman Kerja Dewan Komisaris yang terakhir kali telah         signed on November 11, 2020, while the Board of Directors
disetujui dan ditandatangani tertanggal 11 November 2020,             Manual was last approved and signed on October 20, 2020.
sedangkan Pedoman Direksi yang terakhir kali telah disetujui
dan ditandatangani adalah tertanggal 20 Oktober 2020.




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                                                                                                                                        Corporate Governance




                         Pedoman Dewan Komisaris telah diunggah di website resmi GMF dan dapat diakses
                                                          oleh publik
                       The Board Manual for the Board of Commissioners has been uploaded to the official website of GMF and accessible
                                                                       for the public


                                                                             CLICK HERE




                          Pedoman Direksi telah diunggah di website resmi GMF dan dapat diakses oleh publik
                        The Board Manual for the Board of Directors has been uploaded to the official website of GMF and accessible for the
                                                                             public


                                                                               CLICK HERE




                                                                     Isi Pedoman Dewan Komisaris
                                                      Contents of the Board Manual for the Board of Commissioners

        1. Susunan Dewan Komisaris;                                                 1.  Composition of the Board of Commissioners;
        2. Waktu Kerja Dewan Komisaris;                                             2.  Working Hours of the Board of Commissioners;
        3. Remunerasi;                                                              3.  Remuneration;
        4. Hak, Kewajiban dan Tanggung Jawab Dewan Komisaris, termasuk di           4.  Rights, Obligations and Responsibilities of the Board of Commissioners,
           dalamnya mengatur mengenai:                                                  which include the following regulations:
           a. Tugas dan wewenang Dewan Komisaris;                                       a. Duties and authorities of the Board of Commissioners;
           b. Tugas dan wewenang Komisaris Utama;                                       b. Duties and authorities of the President Commissioner;
           c. Tugas dan wewenang Anggota Dewan Komisaris;                               c. Duties and authorities of members of the Board of Commissioners;
        5. Mekanisme Pengangkatan, Pemberhentian, Pengunduran Diri dan              5. Mechanism to Appoint, Dismiss, Resignation, and Concurrent
           Jabatan Rangkap Dewan Komisaris, termasuk di dalamnya mengatur               Position of the Board of Commissioners, which include the following
           mengenai:                                                                    regulations:
           a. Pengangkatan dan Masa Jabatan Anggota Dewan Komisaris;                    a. Appointment and Term of Office of Members of the Board of
                                                                                            Commissioners;
             b. Pemberhentian dan Pengunduran Diri Anggota Dewan Komisaris;             b. Dismissal and Resignation of Members of the Board of Commissioners;
             c. Jabatan Rangkap dan Jabatan Lowong Anggota Dewan Komisaris;             c. Concurrent Positions and Vacant Position of Members of the
                                                                                            Board of Commissioners;
        6. Mekanisme Rapat Dewan Komisaris, yang terdiri dari Ketentuan             6. Mechanism for the Board of Commissioners Meeting in terms
            Rapat Dewan Komisaris, Pelaksanaan Rapat Dewan Komisaris, Tata              of Provisions, Implementation, Decision-Making Process inside
            Cara Pengambilan Keputusan di dalam dan di Luar Rapat Dewan                 and outside the Board of Commissioners Meetings, including
            Komisaris, termasuk di dalamnya mengatur Penilaian kinerja Dewan            the assessment of the Board of Commissioners and Directors
            Komisaris dan Direksi;                                                      performance;
        7. Pengelolaan Hubungan Dewan Komisaris dengan Pemangku                     7. Relationship Management between the Board of Commissioners
            Kepentingan;                                                                and Stakeholders;
        8. Program Pengenalan dan Pelatihan Dewan Komisaris, beserta Organ          8. Induction and Training for the Board of Commissioners and the
            Pendukung Dewan Komisaris;                                                  Supporting Organs of the Board of Commissioners;
        9. Fasilitas Pinjaman Bagi Anggota Dewan Komisaris;                         9. Loan Facilities for Members of the Board of Commissioners;
        10. Organ Pendukung Dewan Komisaris, termasuk di dalamnya mengatur          10. Supporting Organs of the Board of Commissioners, including the
            mengenai Sekretaris Dewan Komisaris dan Komite Dewan Komisaris.             Secretary to the Board of Commissioners and Committees of the
                                                                                        Board of Commissioners.




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                                                                 Isi Pedoman Direksi
                                                Contents of the Board Manual for the Board of Directors

 1. Susunan Direksi;                                                         1. Composition of the Board of Directors;
 2. Kewenangan Direksi mewakili Perseroan;                                   2. Authorities of the Board of Directors in representing the Company;
 3. Tugas, Wewenang, Kewajiban dan Tanggung Jawab Direksi:                   3. Duties, Authorities, Obligations and Responsibilities of the Board
                                                                                 of Directors:
 4. Mekanisme Pengangkatan, Pemberhentian, Pengunduran Diri, Jabatan         4. Mechanism to Appoint, Dismiss, Resignation, and Concurrent Position
    Rangkap, dan Jabatan Lowong Anggota Direksi:                                 as well as Vacant Position of Members of the Board of Directors:
 5. Mekanisme Rapat Direksi, termasuk di dalamnya mengatur                   5. Board of Directors Meeting, which include the regulations regarding
    mengenai monitoring dan evaluasi tindak lanjut pelaksanaan rapat             monitoring and evaluation to followup the previous meetings,
    sebelumnya, etika dalam rapat, mekanisme pengambilan keputusan               meeting conduct, and mechanism in making decisions and compiling
    dan penyusunan risalah rapat;                                                minutes of meetings;
 6. Pengelolaan Hubungan Direksi dengan Pemangku Kepentingan;                6. The management of the Board of Directors’ Relationships and
                                                                                 Stakeholders Interest;
 7. Program Pengenalan Perseroan dan Pelatihan Direksi;                      7. Induction and Training for the Board of Directors;
 8. Waktu Kerja dan Cuti Direksi;                                            8. Working Time and Leave of the Board of Directors;
 9. Fasilitas Pinjaman Bagi Anggota Direksi;                                 9. Loan Facilities for Members of the Board of Directors;
 10. Organ Pendukung Direksi.                                                10. Supporting Organs of the Board of Directors.



HUBUNGAN KERJA DEWAN KOMISARIS DAN                                            WORK RELATIONSHIP BETWEEN THE BOARD
DIREKSI                                                                       OF COMMISSIONERS AND DIRECTORS

Pedoman Kerja Dewan Komisaris dan Direksi seperti yang telah                  The Board of Commissioners and Board of Directors Manual,
disebutkan sebelumnya juga berlaku sebagai kebijakan yang                     as previously mentioned, also governs the working relationship
mengatur hubungan kerja antara Dewan Komisaris dan Direksi.                   between the Board of Commissioners and the Board of Directors.
Hubungan kerja ini berdasar kepada prinsip pengawasan dan                     This relationship is based on check and balance principles
keseimbangan (check and balance) sebagai komitmen bersama                     as a joint commitment in implementing GCG principles. The
dalam mengimplementasikan prinsip-prinsip GCG. Pedoman                        Board of Commissioners Manual and the Board of Directors
Dewan Komisaris dan Pedoman Direksi mengatur aspek-aspek                      Manual regulate the following aspects concerning the Working
terkait Hubungan Kerja Dewan Komisaris, Direksi, dan Pemangku                 Relationship of the Board of Commissioners, Board of Directors,
Kepentingan serta Tindakan Tertentu Perseroan sebagai berikut:                Stakeholders, and Certain Company Actions:
1. Hubungan Kerja Dewan Komisaris, Direksi, dan Pemangku                      1. Working Relationship of the Board of Commissioners, Board
    Kepentingan                                                                   of Directors, and Stakeholders
    a. Hubungan Dewan Komisaris dengan Pemegang Saham;                            a. Relationship between the Board of Commissioners and
                                                                                      the Shareholders;
    b.    Hubungan Direksi dengan Pemegang Saham;                                 b. Relationship between the Board of Directors and
                                                                                      Shareholders;
    c. Hubungan Dewan Komisaris dengan Direksi;                                   c. Relationship between the Board of Commissioners and
                                                                                      the Board of Directors;
   d. Hubungan Direksi dengan Komite di bawah Dewan                               d. Relationship between the Board of Directors and the
       Komisaris.                                                                     Committees under the Board of Commissioners.
2. Tindakan Tertentu Perseroan                                                2. Certain Actions of the Company
   a. Susunan, Tugas dan Wewenang, Hak, Kewajiban, dan                            a. Composition, Duties and Powers, Rights, Obligations,
       Tanggung Jawab Dewan Komisaris dan Direksi;                                    and the responsibilities of the Board of Commissioners
                                                                                      and Board of Directors;
    b.    Pengangkatan, Pemberhentian, Pengunduran Diri, dan                      b. Appointment, Termination, Resignation Self, and
          Jabatan Rangkap Dewan Komisaris dan Direksi;                                Concurrent Positions of the Board of Commissioners
                                                                                      and Board of Directors;
    c. Rapat Direksi, Rapat Dewan Komisaris, dan Rapat                            c. Board of Directors Meetings, Board of Commissioners
       Bersama Dewan Komisaris dan Direksi;                                           Meetings, and Joint Meetings of the Board of
                                                                                      Commissioners and Board of Directors;
    d.    Program Pengenalan dan Pelatihan Dewan Komisaris                        d. The Board of Commissioners and Board of Directors
          dan Direksi;                                                                Induction and Training Programs;
    e.    Fasilitas Pinjaman bagi Dewan Komisaris dan Direksi;                    e. Loan Facilities for the Board of Commissioners and
                                                                                      Board of Directors;
     f.   Organ Pendukung Dewan Komisaris dan Direksi.                             f. Supporting Bodies for the Board of Commissioners and
                                                                                      Board of Directors.




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      Pelaksanaan hubungan kerja Dewan Komisaris dan Direksi                           The work relationship between the Board of Commissioners and
      dalam kegiatan sehari-hari dilakukan melalui rapat gabungan                      Board of Directors in daily activities is carried out through joint
      Dewan Komisaris dan Direksi serta penyelenggaraan RUPS.                          meetings of the Board and at the GMS. The official communication
      Media komunikasi formal antara Dewan Komisaris dan Direksi                       channel between the Board of Commissioners and Board of
      mencakup Laporan Berkala Triwulanan, Laporan Khusus,                             Directors includes Quarterly Reports, Special Reports, and Annual
      Laporan Tahunan. Media komunikasi lainnya yang tersedia                          Reports. Other communication channel includes e-mail, Group
      secara informal mencakup e-mail, Group Chatting/Messenger,                       Chat/Messenger, and Knowledge Management System.
      dan Knowledge Management System.

      KEBERAGAMAN KOMPOSISI DEWAN                                                      DIVERSITY OF THE BOARD OF
      KOMISARIS DAN DIREKSI [405-1]                                                    COMMISSIONERS AND DIRECTORS
                                                                                       COMPOSITION [405-1]

      GMF memiliki kebijakan keberagaman Dewan Komisaris                               GMF has a policy concerning the diversity of the Board of
      dan Direksi sebagaimana tercantum dalam Pedoman Kerja                            Commissioners and Board of Directors as stated in the Board
      Dewan Komisaris dan Direksi. Aspek keberagaman yang diatur                       Manual. The diversity includes educational background, work
      mencakup latar belakang pendidikan, pengalaman kerja, usia, dan                  experience, age, and gender, considering the Company’s current
      jenis kelamin, dengan senantiasa mempertimbangkan kebutuhan                      situation and business dynamics. The diversity policy aims to
      Perusahaan dan dinamika usaha. Kebijakan Keberagaman Dewan                       give a broad perspective and create a composition full of high
      Komisaris dan Direksi bertujuan untuk memberikan perspektif                      creativity in solving various issues. Information on the diversity
      beragam, sekaligus menciptakan komposisi organ yang kaya                         of the Board of Commissioners and Board of Directors are as
      akan kreativitas dalam memecahkan masalah yang dihadapi                          follows. Profiles of all members of the Board of Commissioners
      Perseroan. Informasi keberagaman Dewan Komisaris dan                             and Directors are available in the Company Profile chapter of
      Direksi tercantum dalam tabel sebagai berikut. Profil seluruh                    this Integrated Report.
      anggota Dewan Komisaris dan Direksi dapat dilihat pada bab
      Profil Perusahaan pada Laporan Terintegrasi ini.


                                                        Keberagaman Komposisi Anggota Dewan Komisaris
                                                         Diversity of the Board of Commissioners Composition
                  Aspek Keberagaman                                                              Realisasi
         No.
                    Diversity Aspect                                                            Realization

          1.      Keahlian                     Anggota Dewan Komisaris memiliki keahlian yang beragam mencakup bidang manajemen maskapai penerbangan,
                  Expertise                    manajemen dan perawatan pesawat, akuntansi, hukum, manajemen bisnis.
                                               The members of the Board of Commissioners possess diverse expertise in terms of airline management, aircraft
                                               management and maintenance, accounting, law, and business management.

          2.      Pendidikan                   Anggota Dewan Komisaris memiliki jenjang pendidikan yang beragam mulai dari sarjana hingga magister di
                  Education                    sejumlah bidang mencakup manajemen bisnis dan ekonomi, teknik elektro, akuntansi, hukum.
                                               The members of the Board of Commissioners possess varying educational backgrounds, ranging from bachelor's
                                               to master's degrees in fields such as business management and economics, electrical engineering, accounting,
                                               and law.

          3.      Pengalaman Kerja             Anggota Dewan Komisaris merupakan para profesional yang pernah menjabat berbagai posisi penting sebagai
                  Professional Experiene       CEO maskapai penerbangan, karyawan GMF yang mendapatkan promosi jabatan, auditor kantor akuntan publik,
                                               dan juga pernah berkecimpung di pemerintahan sebagai ketua Bawaslu dan figure penting di Kementerian
                                               Perhubungan.
                                               The members of the Board of Commissioners are professionals who have held significant positions such as airline
                                               CEOs, GMF employees who received promotions, auditors at public accounting firms, and have been involved
                                               in government roles such as chairman of Bawaslu and as important figures in the Ministry of Transportation.

          4.      Usia                         Anggota Dewan Komisaris memiliki usia beragam mulai dari 54 tahun hingga 70 tahun yang memperlihatkan
                  Age                          tingkat kematangan setiap anggota.
                                               The age range of the members of the Board of Commissioners spans from 54 years to 70 years, reflecting the
                                               maturity level of each member.

          5.      Jenis Kelamin                Anggota Dewan Komisaris saat ini seluruhnya berjenis kelamin laki-laki.
                  Gender                       Currently, all members of the Board of Commissioners are male.

          6.      Independensi                 •      Seluruh anggota Dewan Komisaris, independen terhadap pemegang saham pengendali GMF;
                  Independence                 •      Mayoritas (lebih dari 50%) anggota Dewan Komisaris merupakan Komisaris Independen. Dari lima anggota
                                                      Dewan Komisaris, GMF memiliki tiga orang Komisaris Independen.
                                               •      All members of the Board of Commissioners are independent of GMF's controlling shareholders;
                                               •      The majority (more than 50%) of them are Independent Commissioners. Out of the five members of the
                                                      Board of Commissioners, GMF has three Independent Commissioners.




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                                                   Keberagaman Komposisi Anggota Direksi
                                                  Diversity of the Board of Directors Composition
            Aspek Keberagaman                                                              Realisasi
   No.
              Diversity Aspect                                                            Realization

    1.     Keahlian                    Anggota Direksi memiliki keahlian yang beragam mencakup bidang teknik dan operasional perawatan pesawat,
           Expertise                   manajemen sumber daya manusia, keuangan, manajemen.
                                       The members of the Board of Directors possess diverse expertise in terms of aircraft maintenance engineering
                                       and operations, human resource management, finance, business management.

    2.     Pendidikan                  Anggota Direksi memiliki jenjang pendidikan yang beragam mulai dari sarjana hingga magister di sejumlah
           Education                   bidang mencakup keuangan dan ekonomi, teknik mesin dan penerbangan, hukum.
                                       The members of the Board of Directors possess varying educational backgrounds, ranging from bachelor's to master's
                                       degrees in fields such as finance and economics, mechanical and aviation engineering, law.

    3.     Pengalaman Kerja            Anggota Direksi merupakan para profesional yang pernah menjabat berbagai posisi penting sebagai karyawan
           Professional Experiene      GMF yang mendapatkan promosi jabatan, direktur sejumlah bank, lembaga keuangan global dan BUMN, serta
                                       direktur dan VP di Garuda.
                                       The members of the Board of Directors are professionals who have held significant positions such as GMF
                                       employees who received promotions, directors in a number of banks, global finance institutions and SOEs,
                                       and directors and VP in Garuda.

    4.     Usia                        Anggota Direksi memiliki usia beragam mulai dari 40 tahun hingga 58 tahun yang memperlihatkan tingkat kematangan
           Age                         setiap anggota, namun tetap dalam usia produktif untuk mengelola kegiatan usaha setiap harinya.
                                       The age range of the members of the Board of Directors spans from 40 years to 58 years, reflecting the maturity
                                       level of each member, but still within the range of productive age to manage the daily operation of the Company.

    5.     Jenis Kelamin               Anggota Direksi saat ini seluruhnya berjenis kelamin laki-laki.
           Gender                      Currently, all members of the Board of Directors are male.

    6.     Independensi                Seluruh anggota Direksi, independen terhadap pemegang saham pengendali GMF.
           Independence                All members of the Board of Commissioners are independent of GMF's controlling shareholders.



PENILAIAN KINERJA DEWAN KOMISARIS DAN                                          ASSESSMENT ON THE BOARD OF
DIREKSI [2-18]                                                                 COMMISSIONERS AND DIRECTORS
                                                                               PERFORMANCE [2-18]

Penilaian GCG terhadap Dewan Komisaris dan Direksi dapat                       GCG assessments for the Board of Commissioners and Board
dilihat di pembahasan Hasil Tata Kelola: Evaluasi, Pemantauan,                 of Directors are available in the earlier discussion concerning
dan Peningkatan sebelumnya. Penilaian kinerja Dewan Komisaris                  Governance Results: Evaluation, Monitoring, and Improvement.
dan Direksi yang akan dibahas di sini adalah seputar pencapaian                The discussion here is about the target achievement or
target ataupun kontrak manajemen di tahun berjalan.                            management contracts in the current year.

RUPS mengevaluasi kinerja Dewan Komisaris dan Direksi setiap                   The GMS evaluates the performance of the Board of
tahunnya. Hasil evaluasi kinerja masing-masing anggota Dewan                   Commissioners and Board of Directors every year. The
Komisaris dan Direksi menjadi salah satu dasar pertimbangan                    assessment for each member of the Board of Commissioners
bagi pemegang saham untuk melakukan penunjukan kembali.                        and Board of Directors serves as a basis for shareholders to
Hasil evaluasi ini menjadi bagian yang tidak terpisahkan dalam                 reappoint the respected member. The assessment becomes
skema remunerasi untuk Dewan Komisaris dan Direksi.                            an integral part of the remuneration scheme for the Board of
                                                                               Commissioners and Board of Directors.

PENILAIAN KINERJA DEWAN KOMISARIS                                              ASSESSMENT ON THE BOARD OF
                                                                               COMMISSIONERS
Kinerja Dewan Komisaris dinilai secara kolegial setiap tahunnya                The annual assessment on the Board of Commissioners refers
dengan mengacu pada ketetapan yang telah ditentukan di                         to the current year’s provisions to be submitted and evaluated
tahun berjalan untuk selanjutnya dipertanggungjawabkan dan                     at the GMS.
dievaluasi oleh RUPS.

Dewan Komisaris memiliki kriteria KPI sebagai dasar dalam                      The Board of Commissioners has KPI criteria as the basis for
melakukan penilaian kinerja. Penyusunan KPI ditentukan dan                     performance assessment. The KPIs are determined and agreed
disepakati bersama Pemegang Saham, Dewan Komisaris,                            upon by the Shareholders, Board of Commissioners and Board
dan Direksi dalam RUPS. Penilaian terhadap kinerja Dewan                       of Directors in the GMS. Assessment of the performance of
Komisaris dilihat dari pelaksanaan tugas dan tanggung jawab                    the Board of Commissioners is seen from the implementation
masing-masing sebagaimana ditetapkan dalam Rencana Kerja                       of their respective duties and responsibilities as stipulated in



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      Dewan Komisaris dalam Keputusan Dewan Komisaris tanggal                the Board of Commissioners Work Plan in the Decision of the
      14 September 2022. Sepanjang tahun 2023, Dewan Komisaris               Board of Commissioners dated September 14, 2022. Throughout
      telah melaksanakan fungsi serta tugas dan tanggung jawab               2023, the Board of Commissioners has carried out its functions
      masing-masing dengan mengacu kepada rencana kerja yang                 and duties and responsibilities with reference to the work plan
      telah disusun.                                                         that has been prepared.

      PENILAIAN KINERJA DIREKSI                                              ASSESSMENT ON THE BOARD OF DIRECTORS
      Direksi berkewajiban untuk menyampaikan laporan kinerja dan            The Board of Directors is obligated to submit its report concerning
      pencapaian Perseroan kepada pemegang saham dalam RUPS.                 the Company’s performance and achievements to shareholders
      Mekanisme penilaian kinerja Direksi menjadi tanggung jawab             at the GMS. The assessment on the Board of Directors becomes
      Dewan Komisaris dengan mengacu kepada kriteria, target, dan            the responsibility of the Board of Commissioners using the
      indikator kinerja (Key Performance Indicator) yang tertuang            criteria, targets, and performance indicators (Key Performance
      dalam Kontrak Manajemen Direksi terkait kriteria penilaian             Indicators) in the Management Contract of the Board of Directors
      individual maupun kolegial.                                            as a reference to assess the individual and collegial parameters.

      Dewan Komisaris menyampaikan hasil penilaian terhadap                  The Board of Commissioners submits the assessment to the
      kinerja Direksi kepada RUPS sebagai bagian dari laporan tugas          GMS as part of the supervisory report. The GMS has the authority
      pengawasan Dewan Komisaris. RUPS memiliki wewenang                     to approve the Board of Directors’ performance appraisal results
      untuk menyetuji hasil penilaian kinerja Direksi dengan                 by taking into account the Board of Commissioners’ responses.
      mempertimbangkan tanggapan Dewan Komisaris.

      Secara umum, prosedur penilaian kinerja Direksi adalah sebagai         In general, the procedures for evaluating the performance of
      berikut:                                                               the Board of Directors are as follows:
      1. Kontrak Manajemen Direksi yang memuat kriteria penilaian            1. Directors’ Management Contracts that contain criteria for
         kinerja Direksi baik individu dan kolegial ditandatangani               evaluating the performance of Directors both individually
         setahun sekali bersamaan dengan penyusunan dan                          and collegially are signed once a year together with the
         pengesahan RKAP oleh Pemegang Saham;                                    preparation and approval of the RKAP by the Shareholders;
      2. Direksi menyampaikan laporan kinerja kepada Dewan                   2. The Board of Directors submits a performance report to the
         Komisaris dengan mengacu kepada Indikator Penilaian                     Board of Commissioners by referring to the Performance
         Kinerja (Key Performance Indicator) yang telah ditetapkan               Performance Indicators (Key Performance Indicators)
         dalam Kontrak Manajemen Direksi;                                        specified in the Directors’ Management Contract;
      3. Laporan pencapaian kinerja disampaikan bersamaan dengan             3. Performance reports are submitted together with the
         Laporan Manajemen Triwulanan dan Tahunan kepada Dewan                   Quarterly and Annual Management Reports to the Board
         Komisaris dan Pemegang Saham;                                           of Commissioners and Shareholders;
      4. Dewan Komisaris memberikan evaluasi terhadap laporan                4. The Board of Commissioners provides an evaluation of the
         pencapaian target dari masing-masing KPI yang diterima                  report on the achievement of targets of each KPI received
         Direksi setiap Triwulanan dan Tahunan;                                  by the Board of Directors on a quarterly and annual basis;
      5. Dewan Komisaris dan Pemegang Saham selanjutnya                      5. The Board of Commissioners and Shareholders then calculate
         perhitungan tingkat pencapaian berdasarkan Laporan                      the level of achievement based on the Quarterly and Annual
         Triwulanan dan Tahunan dengan mempertimbangkan                          Reports taking into account the achievement of individual
         pencapaian target individual dan kolegial.                              and collegial targets.


                            KPI                       Freq   Actual            Target           Ach (%)             Weight              Score

        Nilai Ekonomi dan Sosial untuk
        Indonesia                                                                                                      50.00%
        Economic and Social Values for Indonesia

        Revenue                                        M         373.21             377.03          98.99%               10.00%              9.90%

        Net Profit                                     M          20.17              15.03          110.00%              15.00%             16.50%

        Free Cash Flow                                 M       110.00%               100%           110.00%              12.50%              13.75%

        Customer SLA Fulfillment                       M        96.05%               100%           96.05%               12.50%              12.01%

        Inovasi Model Bisnis
                                                                                                                        10.00%
        Business Model Innovation

        Customer Satisfaction Index                    S              3.97               4          99.25%                5.00%              4.96%

        MRO / Strategic Collaboration                  Y                 1               1         100.00%                5.00%              5.00%




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                     KPI                        Freq   Actual          Target           Ach (%)            Weight              Score

 Kepemimpinan Teknologi
                                                                                                               12.50%
 Technology Leadership

 Continuous Improvement                          S              38              38         100.00%               7.50%              7.50%

 Information Capital Readiness (ICR)             M        96.48%              85%          100.00%              5.00%               5.00%

 Peningkatan Investasi
                                                                                                                5.00%
 Increased Investment

 Asset Management                                M       100.00%             100%          100.00%              5.00%               5.00%

 Governance, Risk and Compliance (GRC)           Q        96.12%             100%            96.12%              7.50%               7.21%

 Pengembangan Talenta
                                                                                                                5.00%
 Talent Development

 Human Capital Readiness (HCR)                   M        96.66%              95%          100.00%               7.50%              7.50%

 Organization Capital Readiness (OCR)            M         91.81%             85%          100.00%               7.50%              7.50%

 Jumlah Skor
                                                                                                                                 101.83%
 Total Score


REMUNERASI DEWAN KOMISARIS DAN                                       REMUNERATION FOR THE BOARD OF
DIREKSI [2-19, 2-20, 2-21]                                           COMMISSIONERS AND DIRECTORS [2-19,
                                                                     2-20, 2-21]

DASAR HUKUM PENETAPAN REMUNERASI                                     LEGAL BASIS FOR REMUNERATION OF THE
DEWAN KOMISARIS DAN DIREKSI                                          BOARD OF COMMISSIONERS AND DIRECTORS
Penetapan remunerasi Dewan Komisaris dan Direksi dilakukan           The remuneration for the Board of Commissioners and Board of
dengan berlandaskan pada peraturan perundang-undangan                Directors is set according to the applicable laws and regulations:
yang berlaku:
1. Undang-Undang Republik Indonesia No. 40 Tahun 2007                1. Law of the Republic of Indonesia No. 40 of 2007 Article 113
   Pasal 113 tentang Perseroan Terbatas.                                concerning Limited Liability Companies.
2. Peraturan Menteri BUMN Nomor PER-3/MBU/03/2023                    2. SOE Minister Regulation Number PER-3/MBU/03/2023
   tentang Organ dan Sumber Daya Manusia Badan Usaha                    concerning Organs and Human Resources of State-Owned
   Milik Negara.                                                        Enterprises.
3. Anggaran Dasar Perseroan.                                         3. Company’s Articles of Association.

PROSEDUR PENETAPAN REMUNERASI DEWAN                                  PROCEDURE TO DETERMINE THE
KOMISARIS DAN DIREKSI                                                REMUNERATION FOR THE BOARD OF
                                                                     COMMISSIONERS AND DIRECTORS
Penyusunan kebijakan penetapan remunerasi Dewan Komisaris            The remuneration for the Board of Commissioners and Board
dan Direksi dilakukan berdasarkan rekomendasi oleh Komite            of Directors is based on the Nomination and Remuneration
Nominasi dan Remunerasi untuk dibahas dalam Rapat Dewan              Committee’s remuneration at the Board of Commissioners
Komisaris. Hasil pembahasan dan penetapan remunerasi Dewan           Meeting. The result of the discussion is submitted by the
Komisaris dan Direksi selanjutnya disampaikan oleh Komite            Nomination and Remuneration Committee to the GMS to receive
Nominasi dan Remunerasi kepada RUPS untuk disetujui dan              approval from the Shareholders.
ditetapkan oleh Pemegang Saham.




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                                                           Rapat Umum Pemegang Saham | General Meeting of Shareholders
                                                   Pemberian persetujuan oleh Pemegang Saham dan penetapan remunerasi untuk
                                                                            Dewan Komisaris dan Direksi.
                                                      Granting approval by the Shareholders and setting the remuneration for the
                                                                        Board of Commissioners and Directors.




                                                                     Dewan Komisaris | Board of Commissioners
                                   • Dewan Komisaris mempelajari rekomendasi jumlah remunerasi yang diberikan oleh Komite Nominasi dan
                                     Remunerasi;
                                   • Pemberian usulan kepada RUPS terkait remunerasi Dewan Komisaris dan Direksi.
                                   • The Board of Commissioners studies the recommended amount of remuneration given by the Nomination and
                                     Remuneration Committee;
                                   • Giving Proposals to the GMS related to the remuneration of the Board of Commissioners and Directors.




                                                      Komite Nominasi dan Remunerasi | Nomination and Remuneration Committee
                                        • Pengkajian dengan mempertimbangkan pencapaian kinerja dan kontribusi;
                                          Dewan Komisaris dan Direksi serta pengajian jumlah remunerasi di industri lain yang sejenis;
                                        • Pemberian rekomendasi kepada Dewan Komisaris.
                                        • Assessment by considering the performance achievements and contributions of the
                                          Board of Commissioners and Directors as well as an assessment of the amount of remuneration
                                          in other similar industries;
                                        • Providing recommendations to the Board of Commissioners.




      INDIKATOR PENETAPAN REMUNERASI DEWAN                                                   INDICATOR TO DETERMINE THE REMUNERATION
      KOMISARIS DAN DIREKSI                                                                  OF THE BOARD OF COMMISSIONERS AND
                                                                                             DIRECTORS
      Komite Nominasi dan Remunerasi menetapkan remunerasi                                   The Nomination and Remuneration Committee determines the
      Dewan Komisaris dan Direksi. Penyusunan struktur, kebijakan,                           remuneration for the Board of Commissioners and Board of
      dan besaran remunerasi Dewan Komisaris dan Direksi harus                               Directors. The composition, policies, and amount of remuneration
      memperhatikan hal-hal sebagai berikut:                                                 for the Board of Commissioners and Board of Directors must
                                                                                             pay attention to the following matters:
      • Remunerasi yang berlaku pada industri sesuai dengan                                  • Remuneration applicable to the industry in accordance with
        kegiatan usaha dan skala usaha dari emiten atau perusahaan                               the business activities and business scale of the issuer or
        publik sejenis.                                                                          similar public company.
      • Tugas, tanggung jawab, dan wewenang anggota Direksi dan/                             • The duties, responsibilities and authority of members of
        atau anggota Dewan Komisaris dikaitkan dengan pencapaian                                 the Board of Directors and/or members of the Board of
        tujuan dan kinerja Perseroan.                                                            Commissioners are related to the achievement of the goals
                                                                                                 and performance of the Company.
      • Target kinerja atau kinerja masing-masing anggota Direksi                            • Performance targets or the performance of each member
        dan/atau anggota Dewan Komisaris.                                                        of the Board of Directors and/or members of the Board of
                                                                                                 Commissioners.
      • Keseimbangan tunjangan antara yang bersifat tetap dan                                • Balance between fixed and variable benefits.
        bersifat variabel.
      • Kesesuaian peraturan dan perundang-undangan di bidang                                • Compliance with laws and regulations in the field of taxation
        perpajakan dan ketenagakerjaan.                                                        and employment.
      • Asas keterbukaan, keseimbangan internal serta kompetitif                             • The principle of openness, internal balance and competitive
        dengan perusahaan lain selain Perseroan.                                               with other companies outside the Company.

      Penetapan remunerasi Dewan Komisaris dan Direksi berdasarkan                           Determination of the remuneration of the Board of Commissioners
      pada pencapaian kinerja Perseroan untuk tahun buku                                     and Directors based on the achievement of the Company’s
      sebelumnya sebagaimana tertuang dalam Laporan Keuangan,                                performance for the previous financial year as stipulated in
      serta penilaian KPI tahun buku sebelumnya yang merupakan                               the Audit Financial Report, as well as the KPI assessment of
      bahan pertimbangan dalam menetapkan tantiem tahun buku                                 the previous book year which is a material consideration in
      sebelumnya dan remunerasi untuk Direksi dan Dewan Komisaris.                           determining the tantiem of the previous financial year and
                                                                                             remuneration for the Directors and the Board of Commissioners.




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STRUKTUR REMUNERASI DEWAN KOMISARIS DAN                                        REMUNERATION STRUCTURE OF THE BOARD OF
DIREKSI                                                                        COMMISSIONERS AND DIRECTORS
Struktur remunerasi Dewan Komisaris dan Direksi mengacu                        The remuneration structure of the Board of Commissioners
kepada Peraturan Menteri BUMN Nomor PER-3/MBU/03/2023                          and Board of Directors refers to the Regulation of the Minister
tentang Organ dan Sumber Daya Manusia Badan Usaha Milik                        of SOEs Number PER-3/MBU/03/2023 on Organs and Human
Negara. Berdasarkan peraturan tersebut, komponen penghasilan                   Resources of State-Owned Enterprises. Based on the regulation,
Dewan Komisaris terdiri dari:                                                  the income components of the Board of Commissioners consist
                                                                               of:


                                                           Remunerasi Dewan Komisaris
                                                  Board of Commissioners’ Remuneration Structure

 Honorarium Dewan Komisaris                                                   Board of Commissioners Salary
 Penghasilan tetap berupa uang yang diterima setiap bulan karena              It is a fixed income in the form of money received every month because
 kedudukannya sebagai anggota Dewan Komisaris, dengan ketentuan               of his position as a member of the Board of Commissioners, with the
 sebagai berikut:                                                             following conditions:
 • Perhitungan gaji Komisaris Utama sebesar 45% dari gaji Direktur            • The calculation of the salary of the President Commissioner is 45%
    Utama.                                                                          of the salary of the President Director.
 • Perhitungan gaji Komisaris sebesar 90% dari gaji Komisaris Utama.          • Calculation of Commissioner’s salary of 90% of the salary of the
                                                                                    President Commissioner.

 Tunjangan Dewan Komisaris                                                    Board of Commissioners Allowances
 Penghasilan berupa uang atau yang dapat dinilai dengan uang yang             It’s an income in the form of money or which can be valued with money
 diterima pada waktu tertentu oleh anggota Dewan Komisaris selain             received at a certain time by members of the Board of Commissioners
 Honorarium, yang dapat berupa:                                               in addition to the Honorarium, which can be in the
                                                                              form of:
 •   Tunjangan Hari Raya, diberikan paling banyak 1 (satu) kali penghasilan   • Holiday allowance, is given at most 1 (one) fixed income per month
     tetap per bulan di setiap tahunnya                                            in each year.
 •   Tunjangan Transportasi, diberikan sebesar 20% (dua puluh persen)         • Transportation allowance, given in the amount of 20% (twenty percent)
     dari Honorarium masing-masing anggota Dewan Komisaris.                        of the Honorarium of each member of the Board of Commissioners.
 •   Asuransi Purna Jabatan, diberikan dengan ketentuan premi yang            • Full-Term Insurance, provided with the premium provisions that the
     ditanggung Perusahaan paling banyak 25% dari honorarium per                   Company bears at most 25% of the annual honorarium.
     tahun.

 Fasilitas Dewan Komisaris                                                    Facilities for the Board of Commissioners
 Penghasilan berupa sarana dan/atau kemanfaatan dan/atau penjaminan           It’s an income in the form of facilities and/or benefits and/or guarantees
 yang digunakan/dimanfaatkan oleh anggota Dewan Komisaris dalam               used/utilized by members of the Board of Commissioners in the context
 rangka pelaksanaan tugas, wewenang, kewajiban dan tanggung jawab             of carrying out duties, authorities, obligations and responsibilities based
 berdasarkan peraturan perundang- undangan, yang dapat berupa:                on laws and regulations, which can be in the form of:
 • Fasilitas Kesehatan, diberikan dalam bentuk asuransi kesehatan atau        • Health facilities, provided in the form of health insurance or
    penggantian biaya pengobatan.                                                  reimbursement of medical expenses.
 • Fasilitas Bantuan Hukum, diberikan jika diperlukan, dalam hal terjadi      • Legal Assistance Facilities, provided if necessary, in the event of
    tindakan/perbuatan untuk dan atas nama jabatannya yang berkaitan               actions/actions occurring for and on behalf of his position relating
    dengan Perseroan.                                                              to the Company.

 Tantiem Dewan Komisaris dan Direksi                                          Tantiem for the Board of Commissioners and Directors
 Tantiem adalah penghasilan yang merupakan penghargaan yang                   Tantiem is an income given to members of the Board of Commissioners
 diberikan kepada anggota Dewan Komisaris apabila memperoleh laba             if they receive profits and do not experience accumulated losses.
 dan tidak mengalami akumulasi kerugian. Perseroan dapat memberikan           Companies can provide bonuses to members of the Board of
 tantiem kepada anggota Dewan Komisaris berdasarkan penetapan RUPS            Commissioners based on the determination of the GMS in ratification
 dalam pengesahan Laporan Tahunan apabila opini yang diterbitkan              of the Annual Report if the opinion issued by the auditor is at least
 oleh auditor adalah paling sedikit Wajar Dengan Pengecualian, realisasi      Reasonable with Exceptions, realization of the lowest level of health
 tingkat kesehatan paling rendah dengan nilai 70 (tujuh puluh) dengan         with a value of 70 (seventy) by not calculating the burden/profit due
 tidak memperhitungkan beban/keuntungan akibat tindakan Direksi               to the actions of the Board of Directors before, the achievement of
 sebelumnya, capaian Key Performance Indicator (KPI) paling rendah            Key Performance Indicators (KPI) of at least 80% (eighty) percent) by
 sebesar 80% (delapan puluh persen) dengan tidak memperhitungkan              not calculating factors outside the Board of Directors ‘control, and the
 faktor di luar pengendalian Direksi, dan kondisi Perseroan tidak semakin     condition of the Company not getting worse than the previous year
 merugi dari tahun sebelumnya atau Perseroan tidak menjadi rugi, dengan       or the Company not being a loss, by not counting factors outside the
 tidak memperhitungan faktor di luar pengendalian Direksi.                    Directors’ control.

 Tantiem Dewan Komisaris                                                      Tantiem for the Board of Commissioners
 • Insentif kinerja adalah penghasilan yang merupakan penghargaan             • Performance incentives are income awards given to members of the
    yang diberikan kepada anggota Dewan Komisaris.                               Board of Commissioners.
 • Perhitungan tantiem/insentif Kinerja bagi Dewan Komisaris adalah           • Calculation of bonus/performance incentives for the Board of
    sebagai berikut:                                                             Commissioners is as follows:
    a. Perhitungan tantiem/insentif Kinerja Komisaris Utama sebesar              a. Performance bonus/incentive for President Commissioner is
       45% dari tantiem/insentif kinerja Direktur Utama.                            45% of tantiem/performance incentive for the President Director.
    b. Perhitungan Komisaris lainnya sebesar 90% dari tantiem/insentif           b. Other Commissioners’ calculations are 90% of the President
       kinerja Komisaris Utama.                                                     Commissioner’s performance/incentives.




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                                                                                                                                            Corporate Governance




                                                                   Remunerasi Dewan Komisaris
                                                          Board of Commissioners’ Remuneration Structure

        Catatan | Notes:
        • Tidak ada komponen lainnya (bonus non kinerja, opsi saham, asuransi, dll). | There are no other components (non-performance bonuses, stock
           options, insurance, etc.).
        • Pajak atas honorarium, tunjangan dan fasilitas bagi Dewan Komisaris ditanggung dan menjadi beban Perseroan. Sedangkan pajak atas tantiem/
           insentif kinerja bagi Dewan Komisaris ditanggung dan menjadi beban masing-masing anggota. | Taxes on honorarium, allowances, and facilities
           for the Board of Commissioners and are borne by the Company. Each member of the Board of Commissioners paid the xaxes on bonuses/
           performance incentives.


                                                                        Remunerasi Direksi
                                                             Board of Directors’ Remuneration Structure

        Gaji Direksi                                                                  Board of Directors Salary
        Penghasilan tetap berupa uang yang diterima setiap bulan karena               It is a fixed income in the form of money received every month because of his
        kedudukannya sebagai anggota Direksi, dengan ketentuan sebagai berikut:       position as a member of the Board of Directors, with the following conditions:
        • Gaji Direktur Utama ditetapkan dengan menggunakan pedoman                   • Salary of the President Director is determined using internal guidelines
           internal dalam kelompok usaha Garuda Indonesia.                                  in the Garuda Indonesia business group.
        • Perhitungan gaji Direktur lainnya sebesar 85% dari gaji Direktur Utama.     • Calculation of other Directors’ salaries is 85% of the salary of the
                                                                                            President Director.

        Tunjangan Direksi                                                             Board of Directors’ Allowances
        Penghasilan berupa uang atau yang dapat dinilai dengan uang yang              It’s an income in the form of money or which can be valued with money
        diterima pada waktu tertentu oleh anggota Direksi selain Gaji, yang           received at a certain time by members of the Board of Directors other
        dapat berupa:                                                                 than Salary, which can be in the form of:
                                                                                      • Holiday allowance, is given at most 1 (one) fixed income per month
        •   Tunjangan Hari Raya, diberikan paling banyak 1 (satu) kali penghasilan         in each year.
            tetap per bulan di setiap tahunnya.                                       • Housing allowance, given monthly basis of 40% (forty percent)
        •   Tunjangan Perumahan, diberikan secara bulanan sebesar 40% (empat               including utility costs.
            puluh persen) termasuk biaya utilitas.                                    • Full-Term Insurance, provided with the premium provisions that the
        •   Asuransi Purna Jabatan, diberikan dengan ketentuan premi yang                  Company bears at the maximum 25% of annual salary.
            ditanggung Perusahaan paling banyak 25% dari gaji per tahun.

        Fasilitas Direksi                                                             Facilities for the Board of Directors
        Penghasilan berupa sarana dan/atau kemanfaatan dan/atau penjaminan            It’s an income in the form of facilities and/or benefits and/or guarantees
        yang digunakan/dimanfaatkan oleh anggota Direksi dalam rangka                 used/utilized by members of the Board of Directors in the context of
        pelaksanaan tugas, wewenang, kewajiban dan tanggung jawab                     carrying out their duties, authorities, obligations and responsibilities based
        berdasarkan peraturan perundang-undangan, yang dapat berupa:                  on laws and regulations, which can be in the form of:
        • Fasilitas Kendaraan, diberikan sebanyak 1 (satu) unit kendaraan dinas       • Vehicle Facilities, given as many as 1 (one) unit of official vehicle
           beserta biaya pemeliharaan dan operasional dengan spesifikasi dan               along with maintenance and operational costs with specifications
           standar ditetapkan oleh RUPS.                                                   and standards according to the GMS.
        • Fasilitas Kesehatan, diberikan dalam bentuk asuransi kesehatan atau         • Health facilities, provided in the form of health insurance or
           penggantian biaya pengobatan.                                                   reimbursement of medical expenses.
        • Fasilitas Bantuan Hukum, diberikan jika diperlukan, dalam hal terjadi       • Legal Assistance Facilities, provided if necessary, in the event of
           tindakan/perbuatan untuk dan atas nama jabatannya yang berkaitan                actions/actions occurring for and on behalf of his position relating
           dengan Perusahaan.                                                              to the Company.

        Tantiem Dewan Komisaris dan Direksi                                           Tantiem for the Board of Commissioners and Directors
        Tantiem adalah penghasilan yang merupakan penghargaan yang                    Tantiem is an income given to members of the Board of Commissioners
        diberikan kepada anggota Dewan Komisaris apabila memperoleh laba              if they receive profits and do not experience accumulated losses.
        dan tidak mengalami akumulasi kerugian. Perseroan dapat memberikan            Companies can provide bonuses to members of the Board of
        tantiem kepada anggota Dewan Komisaris berdasarkan penetapan RUPS             Commissioners based on the determination of the GMS in ratification
        dalam pengesahan Laporan Tahunan apabila opini yang diterbitkan               of the Annual Report if the opinion issued by the auditor is at least
        oleh auditor adalah paling sedikit Wajar Dengan Pengecualian, realisasi       Reasonable with Exceptions, realization of the lowest level of health
        tingkat kesehatan paling rendah dengan nilai 70 (tujuh puluh) dengan          with a value of 70 (seventy) by not calculating the burden/profit due
        tidak memperhitungkan beban/keuntungan akibat tindakan Direksi                to the actions of the Board of Directors before, the achievement of
        sebelumnya, capaian Key Performance Indicator (KPI) paling rendah             Key Performance Indicators (KPI) of at least 80% (eighty) percent) by
        sebesar 80% (delapan puluh persen) dengan tidak memperhitungkan               not calculating factors outside the Board of Directors ‘control, and the
        faktor di luar pengendalian Direksi, dan kondisi Perseroan tidak semakin      condition of the Company not getting worse than the previous year
        merugi dari tahun sebelumnya atau Perseroan tidak menjadi rugi, dengan        or the Company not being a loss, by not counting factors outside the
        tidak memperhitungan faktor di luar pengendalian Direksi.                     Directors’ control.

        Tantiem Direksi                                                               Tantiem for the Board of Directors
        • Insentif Kinerja, yaitu penghasilan yang merupakan penghargaan              • Performance incentives, i.e. income which is an award given to
           yang diberikan kepada anggota Direksi apabila terjadi peningkatan             members of the Board of Directors in the event of an increase in
           kinerja walaupun masih mengalami kerugian atau akumulasi kerugian.            performance even though there are still losses or accumulated losses.
        • Perhitungan tantiem/insentif Kinerja bagi Direksi adalah sebagai berikut:   • Calculation of bonus/performance incentives for Directors is as follows:
           a. Perhitungan tantiem/insentif kinerja Direktur Utama ditetapkan             a. The performance tantiem/incentives of the President Director is
               dengan menggunakan pedoman internal dalam kelompok usaha                      determined by using internal guidelines in the Garuda Indonesia
               Garuda Indonesia.                                                             business group.
           b. Perhitungan tantiem/insentif kinerja Direktur lainnya sebesar              b. Calculation of tantiem for other Directors is 85% tantiem/
               85% tantiem/insentif kinerja gaji Direktur Utama.                             performance incentives of the salary of the President Director.




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REMUNERASI DEWAN KOMISARIS DAN DIREKSI                                   REMUNERATION FOR THE BOARD OF
TAHUN 2023                                                               COMMISSIONERS AND DIRECTORS IN 2023
Melalui Surat nomor GARUDA/JKTDZ/20656/23 tanggal 28                     Through letter number GARUDA/JKTDZ/20656/23 dated 28 July
Juli 2023 tentang Penetapan Penghasilan Direksi dan Dewan                2023 regarding the Determination of the Income of Directors and
Komisaris PT Garuda Maintenance Facility Aero Asia Tbk (“GMF”)           Decommissioners of PT Garuda Maintenance Facility Aero Asia
Tahun Buku 2023, serta sehubungan belum adanya keputusan                 Tbk (“GMF”) for the Financial Year 2023, and in connection with
terbaru maka Dewan Komisaris menetapkan hal-hal sebagai                  the absence of a recent decision, the Board of Commissioners
berikut:                                                                 stipulates the following matters:
1. Gaji Direktur Utama untuk tahun 2023 ditetapkan dengan                1. The salary of the President Director for 2023 is set at a
     besaran tertentu yang akan digunakan sebagai acuan utama                certain amount which will be used as the main reference
     dalam perhitungan gaji/honorarium Dewan Komisaris dan                   in calculating the salary/honorarium of the Board of
     Direksi lainnya.                                                        Commissioners and other Directors.
2. Pemberian Fasilitas, Asuransi Purna Jabatan, dan lainnya              2. Provision of facilities, post-employment insurance, and
     mengacu kepada ketentuan yang telah berlaku di Internal                 others refers to the provisions that have been applied in
     Perseroan.                                                              the Company’s internal.
3. Insentif Kinerja Direksi dan Dewan Komisaris PT GMF Aero              3. Performance Incentives for the Board of Directors and Board
     Asia Tbk diberikan dengan besaran tertentu.                             of Commissioners of PT GMF Aero Asia Tbk are given with
                                                                             a certain amount.
4. Perseroan harus menangguhkan pembayaran Insentif Kinerja              4. The Company must suspend the payment of Performance
   kepada Direksi dan Dewan Komisaris sebesar 10% (sepuluh                   Incentives to the Directors and Board of Commissioners
   persen) dengan jangka waktu penangguhan 3 (tiga) tahun                    by 10% (ten per cent) with a suspension period of 3 (three)
   yang diberikan secara prorata.                                            years which is given pro rata.



                                            Remunerasi Dewan Komisaris dan Direksi Tahun 2023
                                      Board of Commissioners and Board of Directors Remuneration in 2023
                                                 Keterangan                                                         Jumlah (Rp)
                                                 Description                                                         Total (Rp)

 Dewan Komisaris
 Board of Commissioners

 Total Imbalan Jangka Pendek                                                                                                  12,787,695,328
 Total Short-Term Benefits

 Total Imbalan Jangka Penjek Lainnya                                                                                            1,281,609,160
 Total Other Long-Term Employee Benefits

 Jumlah
                                                                                                                             14,069,304,488
 Total

 Direksi
 Board of Directors

 Total Imbalan Jangka Pendek                                                                                                  29,092,551,056
 Total Short-Term Benefits

 Total Imbalan Jangka Penjek Lainnya                                                                                           2,358,632,584
 Total Other Long-Term Employee Benefits

 Jumlah
                                                                                                                              31,451,183,640
 Total


                                                           Rasio Gaji/Honorarium
                                                           Salary/Honorarium Ratio
                                                 Keterangan
                                                                                                               2023               2022
                                                 Description

 Direktur Utama terhadap Direktur                                                                                   1:0,85             1:0,85
 President Director to Director

 Komisaris Utama terhadap Komisaris                                                                                1:0,90              1:0,90
 President Commissioner to Commissioner

 Direktur Utama terhadap Komisaris Utama                                                                            1:0,45             1:0,45
 President Director to the President Commissioner




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                                                                  Rasio Gaji/Honorarium
                                                                  Salary/Honorarium Ratio
                                                       Keterangan
                                                                                                                            2023               2022
                                                       Description

        Direktur Utama terhadap karyawan level tertinggi                                                                         1:0,19             1:0,22
        President Director to the highest-ranking employees

        Direktur Utama terhadap karyawan level terendah                                                                          1:0,02            1:0,02
        President Director to the lowest employee level

        Karyawan level tertinggi terhadap karyawan level terendah                                                                  1:0,11             1:0,1
        Highest to the lowest employee level

        Karyawan terendah terhadap UMP                                                                                                1:1               1:1
        The lowest employee level to the minimum regional wage

        Catatan | Notes:
        Karyawan level tertinggi adalah Vice President, sedangkan level terendah adalah Teknisi/Officer. | The highest employee level is Vice President,
        while the lowest level is Technician/Officer.


      RAPAT DEWAN KOMISARIS DAN DIREKSI                                           MEETINGS OF THE BOARD OF
                                                                                  COMMISSIONERS AND DIRECTORS

      Dewan Komisaris dan Direksi memiliki mekanisme rapat sebagai                The Board of Commissioners and Board of Directors have
      salah satu bentuk koordinasi pelaksanaan tugas setiap orang.                a meeting mechanism as a form of coordination in the
      Dewan Komisaris memiliki mekanisme rapat, baik rapat internal               implementation of each person’s duties. The Board of
      dengan anggota sendiri ataupun gabungan dengan Direksi.                     Commissioners has an internal meeting mechanism among
      Sedangkan Direksi memiliki mekanisme rapat internal antar                   members or jointly with the Board of Directors. Meanwhile, the
      anggota yang dapat dilaksanakan dengan mengundang divisi-                   Board of Directors has an internal meeting mechanism among
      divisi lain yang terkait dengan agenda pembahasan.                          members, inviting other divisions related to the discussion
                                                                                  agenda.

      Pelaksanaan rapat untuk Dewan Komisaris dan Direksi dapat                   The Board of Commissioners and Board of Directors can conduct
      diadakan kapan pun sesuai kebutuhan. Rapat juga dapat                       the meeting at any time as needed. Meeting can also be held if
      dilaksanakan apabila mendapat permintaan dari seorang atau                  there is a request from one or more members of the Board of
      lebih anggota Dewan Komisaris dan Direksi, dan/atau permintaan              Commissioners and Board of Directors, and/or a request from
      Pemegang Saham yang mewakili sekurang-kurangnya 1/10                        Shareholders who represent at least 1/10 (one tenth) of the
      (satu per sepuluh) jumlah dari jumlah saham yang beredar                    total number of outstanding shares, along with the reasons
      dengan disertai alasan diadakannya rapat.                                   for the meeting.

      Setiap keputusan yang diambil pada saat rapat Dewan                         Every decision at the meeting of the Board of Commissioners and
      Komisaris dan Direksi dilakukan dengan berdasarkan prinsip                  Board of Directors is made based on the principle of deliberation
      musyawarah untuk mufakat. Apabila mufakat tidak tercapai,                   to reach a consensus. If there is no consensus, the decision is
      maka pengambilan keputusan dilakukan melalui mekanisme                      made through a vote. If the voting result is balanced, the chairman
      pengambilan suara. Dalam hal hasil pengambilan suara                        of the meeting has the right to decide the meeting’s outcome.
      berimbang, maka ketua rapat berhak memutuskan hasil rapat.                  The decision is considered valid if attended by all members
      Pengambilan keputusan dianggap sah apabila dihadiri oleh                    of the Board of Directors or their authorized representatives.
      seluruh anggota Direksi atau wakilnya yang sah.

      Seluruh risalah dan hasil keputusan rapat Dewan Komisaris                   All minutes and resolutions of meetings of the Board of
      dan Direksi dicatat dan didokumentasikan dengan                             Commissioners and Board of Directors are recorded, documented,
      ditandatangani oleh seluruh anggota yang hadir, termasuk                    and signed by all attending members, including the dissenting
      apabila terdapat perbedaan pendapat (dissenting opinion)                    opinions along with the reasons. The minutes are distributed to
      dengan menyertakan alasan terjadinya perbedaan pendapat.                    all members, whether present or not, at the meeting. Particularly,
      Risalah rapat didistribusikan kepada seluruh anggota, baik yang             the Board of Directors’ meeting minutes is distributed to all
      hadir maupun tidak hadir dalam rapat tersebut. Khusus untuk                 positions below the Board of Directors no later than seven
      risalah rapat Direksi akan didistribusikan kepada tingkatan                 days from the signing of the decision. Meetings of the Board
      organisasi di bawah Direksi selambat-lambatnya tujuh hari                   of Commissioners and Directors are held within the Company’s




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sejak ditandatanganinya keputusan tersebut. Rapat Dewan                     operational area. Decisions made during meetings, including
Komisaris dan Direksi diadakan di lingkungan tempat operasi                 those held online, are valid as long as they fulfil the requirements.
Perseroan. Keputusan-keputusan yang telah diambil selama
rapat, termasuk yang diselenggarakan secara online, tetap
sah sepanjang memenuhi persyaratan yang telah ditetapkan.

RAPAT INTERNAL DEWAN KOMISARIS                                              BOARD OF COMMISSIONERS INTERNAL
                                                                            MEETING

Pada tahun 2023, Dewan Komisaris mengadakan rapat internal                  In 2023, the Board of Commissioners has held nine (9) internal
antar anggota sebanyak 9 (sembilan) kali. Berikut disampaikan               meetings with all members. Here are the agenda and minutes
agenda dan risalah rapat, kehadiran, serta rekapitulasi tingkat             of meetings, attendance, and attendance levels of the Board
kehadiran Dewan Komisaris dalam rapat-rapat tersebut.                       of Commissioners during the meetings.

RAPAT INTERNAL DEWAN KOMISARIS                                              BOARD OF COMMISSIONERS INTERNAL MEETING
Pada tahun 2023, Dewan Komisaris mengadakan rapat internal                  In 2023, the Board of Commissioners has held nine (9) internal
antar anggota sebanyak 9 (sembilan) kali. Berikut disampaikan               meetings with all members. Here are the agenda and minutes
agenda dan risalah rapat, kehadiran, serta rekapitulasi tingkat             of meetings, attendance, and attendance levels of the Board
kehadiran Dewan Komisaris dalam rapat-rapat tersebut.                       of Commissioners during the meetings.


                                                Rekapitulasi Kehadiran Komisaris pada Rapat Internal
                                                  Commissioners’ Attendance during Internal Meeting
                                                                        Jumlah Wajib Rapat
                         Nama dan Posisi                                                                Jumlah Kehadiran             Kehadiran
                                                                        Number of Mandatory
                         Name and Position                                                              Number of Presence            Presence
                                                                             Meeting

 Dharmadi*                                                                                      5                              5              100%
 Komisaris Utama
 President Commissioner

 Rahmat Hanafi                                                                                  9                              8               89%
 Komisaris
 Commissioner

 Ali Gunawan                                                                                    9                              9              100%
 Komisaris Independen
 Independent Commissioner

 Abhan                                                                                          5                              5              100%
 Komisaris Independen
 Independent Commissioner

 Agit Atriantio                                                                                 9                              9              100%
 Komisaris Independen
 Independent Commissioner

 Maria Kristi Endah Murni*                                                                      4                              4              100%
 Komisaris
 Commissioner

 Gatot Sulistiantoro Dewa Broto*                                                                4                              4              100%
 Komisaris Independen
 Independent Commissioner

 Rata-rata
                                                                                                                                              98%
 Average

 *) Keterangan | Notes:
 Sdr. Dharmadi menjabat sejak 2023 | He is serving since 2023
 Sdri. Maria Kristi Endah Murni tidak lagi menjabat sejak 2023 | She is no longer in the position since 2023
 Sdr. Gatot Sulistiantoro Dewa Broto tidak lagi menjabat sejak 2023 | He is no longer in the position since 2023




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                                                                                                                                        Corporate Governance




                                                           Risalah Rapat Internal Dewan Komisaris
                                                                  Minutes of Internal Meeting
                   Tanggal                                       Agenda Rapat                                   Kehadiran           Alasan Ketidakhadiran
                     Date                                        Meeting Agenda                                  Presence            Reasons for Absence

        3 Januari 2023                     Penetapan Remunerasi Direksi dan Dewan Komisaris GMF Tahun              100%         -
        January 3, 2023                    Buku 2022 dan Restrukturisasi Utang CTBC
                                           Determination of Remuneration for GMF Directors and Board
                                           of Commissioners for Financial Year 2022 and CTBC Debt
                                           Restructuring

        1 Februari 2023                    Persetujuan AP dan KAP GMF Tahun Buku 2022                              100%         -
        February 1, 2023                   Approval of GMF AP and KAP for Fiscal Year 2022

        28 April 2023                      Laporan Kinerja YTD Maret 2023                                          100%         -
        April 28, 2023                     YTD Performance Report March 2023

        27 Juni 2023                       Pencapaian Kinerja Direksi GMF berdasarkan Target Kolegial dan          100%         -
        Juny 27, 2023                      Masing-Masing Anggota Direksi Tahun 2022
                                           Performance Achievement of GMF Directors based on Collegial
                                           Targets and Each Member of the Board of Directors in 2022

        5 Juli 2023                        Wawancara Calon Pengurus GDPS                                           100%         -
        July 5, 2023                       Interview with Candidates for GDPS Management

        20 Juli 2023                       Penerapan PER BUMN                                                     Rahmat        Keperluan kedinasan instansi
        July 20, 2023                      Implementation of PER BUMN                                           Hanafi tidak    asal
                                                                                                                 hadir | not    Official duties from parent
                                                                                                                  present       entity

        11 Agustus 2023                    Tanggapan Revisi RJPP                                                   100%
        August 11, 2023                    RJPP Revision Response

        24 November 2023                   RKA Dewan komisaris 2024                                                100%
        November 24, 2023                  RKA Board of Commissioners 2024

        22 Desember 2023                   Tanggapan RKAP 2024                                                     100%
        December 22, 2023                  Response to RKAP 2024



      RAPAT GABUNGAN DEWAN KOMISARIS DAN                                            JOINT MEETING WITH DIRECTORS
      DIREKSI
      Selain rapat internal, Dewan Komisaris juga dapat melakukan                   Apart from internal meetings, the Board of Commissioners can
      rapat gabungan dengan mengundang Direksi. Rapat gabungan                      also hold joint meetings by inviting the Board of Directors. This
      ini berfungsi sebagai bentuk koordinasi membahas laporan-                     joint meeting serves as a form of coordination to discuss the Board
      laporan periodik Direksi dan kondisi serta prospek usaha serta                of Directors’ periodic reports, business conditions, prospects and
      kebijakan yang berdampak pada kinerja Perseroan. Melalui rapat                policies that affected the Company’s performance. The Board of
      ini, Dewan Komisaris dapat memberikan tanggapan, catatan,                     Commissioners can respond, give notes and advice, which will be
      dan nasihat yang nantinya akan dituangkan dalam Risalah                       outlined in the Minutes of Meeting. Joint meetings may also be
      Rapat. Rapat gabungan dapat juga dilakukan atas usulan Direksi.               held at the recommendation of the Board of Directors.

      Pada tahun 2023, rapat gabungan antara Dewan Komisaris                        In 2023, there were twenty five (25) joint meetings between the
      dan Direksi dilaksanakan sebanyak 25 (dua puluh lima) kali.                   Board of Commissioners and Board of Directors. The following
      Berikut disampaikan agenda dan risalah rapat, kehadiran, serta                is the agenda, minutes of meetings, and attendance levels of
      rekapitulasi tingkat kehadiran Dewan Komisaris dan Direksi                    the Board of Commissioners and Directors during meetings.
      dalam rapat-rapat tersebut.


                                         Rekapitulasi Kehadiran Komisaris dan Direktur pada Rapat Gabungan
                                     Recapitulation of the presence of Commissioners and Directors at the Joint Meeting
                            Nama dan Posisi                                Jumlah Wajib Rapat                      Jumlah Kehadiran             Kehadiran
                            Name and Position                           Number of Mandatory Meeting                Number of Presence            Presence

        Dewan Komisaris
        Board of Commissioners

        Dharmadi*                                                                                           9                             9             100%
        Komisaris Utama
        President Commissioner




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                                  Rekapitulasi Kehadiran Komisaris dan Direktur pada Rapat Gabungan
                              Recapitulation of the presence of Commissioners and Directors at the Joint Meeting
                      Nama dan Posisi                             Jumlah Wajib Rapat                    Jumlah Kehadiran             Kehadiran
                      Name and Position                        Number of Mandatory Meeting              Number of Presence            Presence

 Rahmat Hanafi                                                                                  25                           25              100%
 Komisaris
 Commissioner

 Ali Gunawan                                                                                    25                           25              100%
 Komisaris Independen
 Independent Commissioner

 Abhan                                                                                           9                            9              100%
 Komisaris Independen
 Independent Commissioner

 Agit Atriantio                                                                                 25                           25              100%
 Komisaris Independen
 Independent Commissioner

 Maria Kristi Endah Murni*                                                                      16                            13             100%
 Komisaris
 Commissioner

 Gatot Sulistiantoro Dewa Broto*                                                                16                            15              94%
 Komisaris Independen
 Independent Commissioner

 Rata-rata
                                                                                                                                             96%
 Average

 Direksi
 Board of Directors

 Andi Fahrurrozi                                                                                25                           25              100%
 Direktur Utama
 CEO

 Irvan Pribadi                                                                                   9                            9              100%
 Direktur Base Operation
 Director of Base Operations

 Pudjo Sarwoko                                                                                  25                           25              100%
 Direktur Human Capital & Corporate Affairs
 Director of Human Capital & Corporate Affairs

 Salusra Satria                                                                                 25                           25              100%
 Direktur Keuangan
 Director of Finance

 Mukhtaris                                                                                      25                           25              100%
 Direktur Line Operation
 Director of Line Operation

 Ananta Widjaja*                                                                                16                            16             100%
 Direktur Business & Base Operation
 Director of Business & Base Operations

 Rata-rata
                                                                                                                                            100%
 Average

 *) Keterangan | Notes:
 • Sdr. Dharmadi menjabat sejak 2023 | He is serving since 2023
 • Sdri. Maria Kristi Endah Murni tidak lagi menjabat sejak 2023 | She is no longer in the position since 2023
 • Sdr. Gatot Sulistiantoro Dewa Broto tidak lagi menjabat sejak 2023 | He is no longer in the position since 2023
 • Sdr. Ananta Widjaja tidak lagi menjabat sejak 2023 | He is no longer in the position since 2023




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                                                  Risalah Rapat Gabungan Dewan Komisaris dan Direksi
                                             Minutes of Joint Meeting of the Board of Commissioners and Directors
                  Tanggal                                 Agenda Rapat                            Kehadiran              Alasan Ketidakhadiran
                    Date                                  Meeting Agenda                           Presence               Reasons for Absence

        20 Januari 2023                 Supply Change Management                                     100%
        January 20, 2023

        3 Februari 2023                 Kinerja Tahun 2022                                      Kristi E.M. tidak    Keperluan kedinasan instansi asal
        February 3, 2023                Performance in 2022                                    hadir | not present   Official duties from parent entity

        10 Februari 2023                People Development 2023                                      100%
        February 10, 2023

        17 Februari 2023                Kinerja Bulan Januari 2023                                   100%
        February 17, 2023               January 2023 Performance

        24 Februari 2023                Sales Plan 2023                                        Gatot tidak hadir |   Sakit
        February 24, 2023                                                                        not present         Sick leave

        3 Maret 2023                    Program Efisiensi 2023                                  Kristi E.M. tidak    Keperluan kedinasan instansi asal
        March 3, 2023                   2023 Efficiency Program                                hadir | not present   Official duties from parent entity

        10 Maret 2023                   GMF Quality Update 2023                                      100%
        March 10, 2023

        17 Maret 2023                   Kinerja Bulan Februari 2023                                  100%
        March 17, 2023                  Performance for February 2023

        24 Maret 2023                   Program & Continuous Improvement Area Line Operation         100%
        March 24, 2023

        31 Maret 2023                   Program & Continuous Improvement Area Business &             100%
        March 31, 2023                  Base Operation

        28 April 2023                   Laporan Kinerja YTD Maret 2023                               100%
        April 28, 2023                  YTD Performance Report March 2023

        12 Mei 2023                     Kebijakan dan Pelaksanaan Manajemen Risiko                   100%
        May 12, 2023                    Risk Management Policy and Implementation

        19 May 2023                     Kinerja Korporat YTD April 2023                              100%
        May 19, 2023                    Corporate Performance YTD April 2023

        26 Mei 2023                     Persiapan RUPST GMF 2023                                     100%
        May 26, 2023                    Preparation for the 2023 GMF AGMS

        9 Juni 2023                     Pembahasan Materi RUPST GMF 2023                             100%
        June 9, 2023                    Discussion of GMF 2023 AGMS Materials

        16 Juni 2023                    Persiapan dan Pembahasan Materi RUPST GMF Tahun         Kristi E.M. tidak    Keperluan kedinasan instansi asal
        June 16, 2023                   Buku 2022                                              hadir | not present   Official duties from parent entity
                                        Preparation and Discussion of GMF AGMS Materials for
                                        the 2022 Fiscal Year

        14 Juli 2023                    Kinerja YTD Mei 2023 dan Highlight Bulan Juni                100%
        July 14, 2023                   YTD May 2023 Performance and June Highlights

        4 Agustus 2023                  Revisi RJPP 2020-2024                                        100%
        August 4, 2023                  Revised RJPP 2020-2024

        18 Agustus 2023                 Kinerja YTD Juli 2023                                        100%
        August 18, 2023                 YTD Performance July 2023

        1 September 2023                Update Sales plan 2023                                       100%
        September 1, 2023               Updated Sales plan 2023

        15 September 2023               Kinerja YTD Agustus 2023                                     100%
        September 15, 2023              YTD performance August 2023

        13 Oktober 2023                 Kinerja YTD September 2023                                   100%
        October 13, 2023                YTD September 2023 performance




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                                           Risalah Rapat Gabungan Dewan Komisaris dan Direksi
                                      Minutes of Joint Meeting of the Board of Commissioners and Directors
           Tanggal                                    Agenda Rapat                                 Kehadiran                Alasan Ketidakhadiran
             Date                                     Meeting Agenda                                Presence                 Reasons for Absence

 27 Oktober 2023                 Rancangan RKAP GMF 2024                                                100%
 October 27, 2023                GMF 2024 RKAP Draft

 24 November 2023                Kinerja Korporat YTD Oktober 2023                                      100%
 November 24, 2023               Corporate Performance YTD October 2023

 22 Desember 2023                Kinerja Korporat YTD November 2023 dan Update RKAP                     100%
 December 22, 2023               2024 GMF
                                 Corporate Performance YTD November 2023 and GMF
                                 2024 RKAP Update



RAPAT DIREKSI                                                               BOARD OF DIRECTORS MEETING
Pada tahun 2023, Direksi mengadakan rapat sebanyak 38 (tiga                 In 2023, the Board of Directors has held 38 (thirty eight
puluh delapan) kali. Berikut disampaikan agenda dan risalah                 meetings). Here are the agenda and minutes of meetings, and
rapat, kehadiran, serta rekapitulasi tingkat kehadiran Direksi              attendance level of the Board of Directors during meetings.
dalam rapat-rapat tersebut.


                                                Rekapitulasi Kehadiran Direktur pada Rapat Internal
                                                    Directors’ Attendance during Internal Meeting
                                                                        Jumlah Wajib Rapat
                         Nama dan Posisi                                                                       Jumlah Kehadiran            Kehadiran
                                                                        Number of Mandatory
                         Name and Position                                                                     Number of Presence           Presence
                                                                             Meeting

 Andi Fahrurrozi                                                                                   38                               38              100%
 Direktur Utama
 CEO

 Irvan Pribadi                                                                                     23                               22               96%
 Direktur Base Operation
 Director of Base Operations

 Pudjo Sarwoko                                                                                     38                               35               92%
 Direktur Human Capital & Corporate Affairs
 Director of Human Capital & Corporate Affairs

 Salusra Satria                                                                                    38                               37               97%
 Direktur Keuangan
 Director of Finance

 Mukhtaris                                                                                         38                               34               89%
 Direktur Line Operation
 Director of Line Operation

 Ananta Widjaja*                                                                                   15                               15              100%
 Direktur Business & Base Operation
 Director of Business & Base Operations

 Rata-rata
                                                                                                                                                  95.8%
 Average

 *) Keterangan | Notes:
 Sdr. Ananta Widjaja tidak lagi menjabat sejak 2023 | He is no longer in the position since 2023




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                                                                  Risalah Rapat Internal Direksi
                                                                   Minutes of Internal Meeting
                  Tanggal Rapat                                                               Agenda Rapat
                   Meeting Date                                                              Meeting Agenda

        2 Januari 2023                           •    Briefing, Roundtable Discussion and Open Items
        January 2, 2023                          •    Pengajuan Persetujuan Penambahan Tenaga Alih Daya IFE Cabin
                                                 •    Pembahasan Penerbitan PO Part Repair Proyek L TSA PJB Muara Tawar
                                                 •    Pembahasan dan Update Boroscope Inspection Equipment
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Approval for Additional IFE Cabin Outsourcing
                                                 •    Discussion on the Issuance of PO Part Repair for the L TSA PJB Muara Tawar Project
                                                 •    Discussion and Updates on Boroscope Inspection Equipment

        9 Januari 2023                           •    Briefing, Roundtable dan Open Item
        January 9, 2023                          •    Pembahasan dan Persetujuan Pelaksanaan Corporate Culture - GMF Spirit
                                                 •    Persetujuan Pelaksanaan Bulan K3, Update Program Revitalisasi Toilet dan Penggunaan Lahan Parkir
                                                 •    Briefing, Roundtable and Open Item
                                                 •    Discussion and Approval of Corporate Culture Implementation - GMF Spirit
                                                 •    Approval of K3 Month Implementation, Update on Toilet Revitalization Program and Parking Lot Use

        17 Januari 2023                          •    Briefing, Roundtable Discussion and Open Items
        January 17, 2023                         •    Pembahasan Utilisasi Area Posko untuk Penyewaan
                                                 •    Update dan Pembahasan Program Perbaikan dan Peremajaan GSE Motorize Line Operation
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion on the Utilization of the Command Post Area for Rental
                                                 •    Update and Discussion of the GSE Motorize Line Operation Repair and Rejuvenation Program

        30 Januari 2023                          •    Briefing, Roundtable Discussion and Open Items
        January 30, 2023                         •    Persetujuan Penggunaan Tenaga Ahli untuk Pengerjaan Proyek KAI
                                                 •    Kebijakan Sumber Daya Manusia TM
                                                 •    Update Employee Assistance Program
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Approval of the Use of Experts to Work on the KAI Project
                                                 •    TM Human Resources Policy
                                                 •    Updated Employee Assistance Program

        6 Februari 2023                          •    Briefing, Roundtable Discussion and Open Items
        February 6, 2023                         •    Pembahasan dan Update Penggantian Kendaraan Material Handling Dengan EV
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion and Update on Replacing Material Handling Vehicles with EVs

        13 Februari 2023                         •    Briefing, Roundtable Discussion and Open Items
        February 13, 2023                        •    Pembahasan Optimalisasi Material Services & Tools Store
                                                 •    Pembahasan Persetujuan Penjualan Asset/Barang Perseroan
                                                 •    Pengajuan Persetujuan Penambahan Anggaran Moveable Tail Dock
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion on Optimizing Material Services & Tools Store
                                                 •    Discussion of Approval for the Sale of Company Assets/Goods
                                                 •    Submission of Approval for Addition to the Moveable Tail Dock Budget

        20 Februari 2023                         •    Briefing, Roundtable dan Open Items
        February 20, 2023                        •    Pembahasan Pelaksanaan HUT GMF
                                                 •    Pengadaan Azure dan Microsoft 365
                                                 •    Briefing, Roundtable and Open Items
                                                 •    Discussion on the Implementation of the GMF Anniversary
                                                 •    Azure and Microsoft 365 purchase

        27 Februari 2023                         •    Briefing, Roundtable Discussion and Open Items
        February 27, 2023                        •    Pembahasan Rencana Penyewaan Ruangan ke BNI dan Update Perjanjian Kerjasama dengan AeroTrans
                                                      (ATS)
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion of Room Rental Plans to BNI and Update on Cooperation Agreement with AeroTrans (ATS)

        6 Maret 2023                             •    Briefing, Roundtable Discussion and Open Items
        March 6, 2023                            •    Pembahasan dan Update Pengadaan Three Wheels Material Handling
                                                 •    Pembahasan dan Update Pengadaan Ground Support Equipment (GSE)
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion and Update on Procurement of Three Wheels Material Handling
                                                 •    Discussion and Update on Ground Support Equipment (GSE) Procurement




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                                                             Risalah Rapat Internal Direksi
                                                              Minutes of Internal Meeting
            Tanggal Rapat                                                                Agenda Rapat
             Meeting Date                                                               Meeting Agenda

 27 Maret 2023                            •     Briefing, Roundtable Discussion and Open Items
 March 27, 2023                           •     Pembahasan dan Update Perpanjangan Perjanjian dengan Airbus untuk MTS Level 3
                                          •     Pembahasan dan Persetujuan Tema dan Design Laporan Terintegrasi tahun buku 2022
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion and Update on Extension of Agreement with Airbus for MTS Level 3
                                          •     Discussion and approval of the theme and design of the integrated report for the 2022 financial year

 3 April 2023                             •     Briefing, Roundtable Discussion and Open Items
 April 3, 2023                            •     Pembahasan dan Persetujuan Nilai Tagihan dalam Proses Penundaan Kewajiban Pembayaran Utang
                                                (PKPU) PT Sriwijaya Air (SJY)
                                          •     Pembahasan dan Update Pembangunan Area Posko
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion and Approval of Bill Amount in PT Sriwijaya Air (SJY) Debt Payment Obligation (PKPU)
                                                Postponement Process
                                          •     Discussion and Update on Post Area Development

 10 April 2023                            •     Briefing, Roundtable Discussion and Open Items
 April 10, 2023                           •     Update Pelaksanaan Perayaan Hari Ulang Tahun (HUT) 21
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Update on the implementation of the 21st Birthday Celebration

 17 April 2023                            •     Briefing, Roundtable dan Open Items
 April 17, 2023                           •     Highlight IT Steering Committee Q1
                                          •     Update Progress Quality Improvement
                                          •     Briefing, Roundtable and Open Items
                                          •     Highlights IT Steering Committee Q1
                                          •     Quality Improvement Progress Updates

 10 Mei 2023                              •     Briefing, Roundtable Discussion and Open Items
 May 10, 2023                             •     Update Business and Risk Assessment Handling Buyer Finished Equipment (BFE) GA
                                          •     Update Progress dan Pengajuan Persetujuan Penjualan Asset
                                          •     Update Kebijakan SDM
                                          •     Pengajuan Persetujuan Peremajaan Loker Hangar 1
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Update Business and Risk Assessment Handling Buyer Finished Equipment (BFE) GA
                                          •     Update Progress and Submission of Asset Sales Approval
                                          •     Update HR Policy
                                          •     Submission of Approval for Rejuvenation of Hangar Locker 1

 17 Mei 2023                              •     Briefing, Roundtable Discussion and Open Items
 May 17, 2023                             •     Update Progress dan Persetujuan Penjualan Unmoved Inventory
                                          •     Update Perawatan Engine PT Garuda Indonesia (Persero), Tbk. dengan Metode Modular
                                          •     Update Rencana Pengembalian Lahan ke PT Angkasa Pura 2 (AP 2) dan Pengerjaan Area Posko Dengan
                                                Skema BOT
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Update Progress and Approval of Sales of Unmoved Inventory
                                          •     PT Garuda Indonesia (Persero), Tbk Engine Maintenance Update. with Modular Method
                                          •     Update on Land Return Plan to PT Angkasa Pura 2 (AP 2) and Work on the Command Post Area Using
                                                the BOT Scheme

 3 Juli 2023                              •     Briefing, Roundtable Discussion and Open Items
 July 3, 2023                             •     Update Progress Pengadaan dan Pembangunan Hangar Door
                                          •     Update Kerjasama Pooling Component KLM
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Update on Procurement and Construction of Hangar Door Progress
                                          •     KLM Pooling Component Cooperation Update

 10 Juli 2023                             •     Briefing, Roundtable Discussion and Open Items
 July 10, 2023                            •     Update GMF IT Security Program
                                          •     Pengajuan Persetujuan Proses Penundaan Kewajiban Pembayaran Utang (PKPU) Sriwijaya Air (SJY)
                                          •     Update Negosiasi Sewa Lahan dengan Angkasa Pura 1 (AP1) dan Angkasa Pura 2 (AP2)
                                          •     Update Rencana Kerjasama Consignment PDQ
                                          •     Pengajuan Persetujuan Permintaan TAD/PKWT Data Input - Engineering Services
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Update on GMF IT Security Program
                                          •     Submission of Sriwijaya Air (SJY) Debt Payment Obligation Postponement Process (PKPU) Approval
                                          •     Update on Land Lease Negotiations with Angkasa Pura 1 (AP1) and Angkasa Pura 2 (AP2)
                                          •     Update PDQ Consignment Cooperation Plan
                                          •     Submission of TAD/PKWT Data Input Request Approval - Engineering Services



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274                                                                                                                               Tata Kelola Perusahaan
                                                                                                                                   Corporate Governance




                                                                  Risalah Rapat Internal Direksi
                                                                   Minutes of Internal Meeting
                  Tanggal Rapat                                                              Agenda Rapat
                   Meeting Date                                                             Meeting Agenda

        12 Juli 2023                             Pengajuan Persetujuan Proses Penundaan Kewajiban Pembayaran Utang (PKPU) Sriwijaya Air (SJY)
        July 12, 2023                            Submission of Sriwijaya Air (SJY) Debt Payment Obligation Postponement Process (PKPU) Approval

        31 Juli 2023                             •    Briefing, Roundtable Discussion and Open Items
        July 31, 2023                            •    Persetujuan Improvement Sumber Daya Manusia untuk Warehouse
                                                 •    Persetujuan Tunjangan Sertifikasi Profesi
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Approval of Human Resources Improvement for Warehouse
                                                 •    Approval of Professional Certification Allowances

        7 Agustus 2023                           •    Briefing, Roundtable Discussion and Open Items
        August 7, 2023                           •    Update Progress Pembangunan Hangar Door
                                                 •    Persetujuan Pelepasan Asset Book Value 0 dan Under-utilized
                                                 •    Update Power by The Hour (PBTH) Agreement Citilink
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Update on Hangar Door Construction Progress
                                                 •    Agreement on Release of Asset Book Value 0 and Under-utilized
                                                 •    Update Power by The Hour (PBTH) Agreement Citilink

        14 Agustus 2023                          •    Briefing, Roundtable Discussion and Open Items
        August 14, 2023                          •    Persetujuan Perubahan Daerah Keamanan Terbatas GMF
                                                 •    Update Progress Pembangunan Hangar Door
                                                 •    Update dan Persetujuan Pengadaan Sewa Kendaraan Operasional dan Pengadaan Towing Truck
                                                 •    Update Inventory Juli 2023 dan Persetujuan Pelepasan Asset Book Value O dan Under­utilized
                                                 •    Persetujuan Pengadaan Private Cloud
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Approval of Changes to GMF Restricted Security Areas
                                                 •    Update on Hangar Door Construction Progress
                                                 •    Update and Approval of Operational Vehicle Rental Procurement and Towing Truck Procurement
                                                 •    July 2023 Inventory Update and Approval of Release of Book Value O and Underutilized Assets
                                                 •    Private Cloud Procurement Approval

        21 Agustus 2023                          •    Briefing, Roundtable Discussion and Open Items
        August 21, 2023                          •    Pembahasan dan Update Un-consumed Inventory
                                                 •    Update Cashflow dan Progress Biiiing
                                                 •    Pembahasan Pembebanan dan Pemberlakuan Pajak Penghasilan Natura dan/atau Kenikmatan
                                                 •    Pembahasan Pengadaan Engine OPRA
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion and Updates on Un-consumed Inventory
                                                 •    Update Cashflow and Biiing Progress
                                                 •    Discussion of the Imposition and Application of In-kind and/or Enjoyment Income Tax
                                                 •    Discussion on OPRA Engine Procurement

        28 Agustus 2023                          •    Briefing, Roundtable Discussion and Open Items
        August 28, 2023                          •    Pembahasan dan Update Pengembangan Capability Training B787
                                                 •    Update Pelaksanaan Salary Survey
                                                 •    Persetujuan Penggantian Magang dan Pensiunan TF
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion and Update on B787 Capability Training Development
                                                 •    Update on Salary Survey Implementation
                                                 •    Approval of Replacement of Interns and Retired TFs

        4 September 2023                         •    Briefing, Roundtable Discussion and Open Items
        September 4, 2023                        •    Pembahasan dan Update Unconsumed Inventory TC, TV, TM
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion and Updates on Unconsumed Inventory TC, TV, TM

        12 September 2023                        •    Briefing, Roundtable Discussion and Open Items
        September 12, 2023                       •    Pembahasan dan Update Unconsumed Inventory
                                                 •    Pembahasan dan Persetujuan Risk Assessment
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion and Updates on Unconsumed Inventory
                                                 •    Discussion and Approval of Risk Assessment




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                                                             Risalah Rapat Internal Direksi
                                                              Minutes of Internal Meeting
            Tanggal Rapat                                                                Agenda Rapat
             Meeting Date                                                               Meeting Agenda

 18 September 2023                        •     Briefing, Roundtable Discussion and Open Items
 September 18, 2023                       •     Pembahasan dan Persetujuan Penjualan Barang Scrap
                                          •     Pembahasan dan Update Rencana Kerjasama Pengembangan Engine Shop dan Landing Gear Shop
                                          •     Persetujuan dan Update Pelaksanaan SR Check 3rd Party Handling
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion and Approval of Sales of Scrap Goods
                                          •     Discussion and Update on Collaboration Plans for the Development of the Engine Shop and Landing
                                                Gear Shop
                                          •     Approval and Update on the Implementation of SR Check 3rd Party Handling

 2 Oktober 2023                           •     Briefing, Roundtable Discussion and Open Items
 October 2, 2023                          •     Update dan Persetujuan Pelaksanaan Development Training B787-8/9/10 GenX dan RR Trent 1000
                                                ("Pelatihan")
                                          •     Pembahasan dan Update Rencana Renovasi Ruangan Pasko
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Update and Approval of Implementation of Development Training B787-8/9/10 GenX and RR Trent
                                                1000 ("Training")
                                          •     Discussion and Update on Pasko Room Renovation Plans

 9 Oktober 2023                           •     Briefing, Roundtable Discussion and Open Items
 October 9, 2023                          •     Pembahasan Tunjangan Aircraft License
                                          •     Pembahasan Pemenuhan Manpower TB, T J dan TL
                                          •     Pembahasan Usulan Alih Kelola Satellite Store
                                          •     Pembahasan Perubahan Skema Material Handling
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion of Aircraft License Allowances
                                          •     Discussion of TB, T J and TL Manpower Fulfillment
                                          •     Discussion of the proposed transfer of management of the Satellite Store
                                          •     Discussion of Changes to Material Handling Schemes

 16 Oktober 2023                          •     Briefing, Roundtable Discussion and Open Items
 October 16, 2023                         •     Pembahasan Pemenuhan Manpower TV, TC dan TQ serta Perbaikan Pengajuan Manpower TL dan T J
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion of TV, TC and TQ Manpower Fulfillment and Improvements to TL and TJ Manpower Submissions

 23 Oktober 2023                          •     Pembahasan Inventory Improvement Program, Pembahasan Investasi 2023 dan Pembahasan Unbilled
 October 23, 2023                               Uneamed C-Check
                                          •     Pembahasan Pemenuhan Manpower TZ dan TE
                                          •     Discussion of the Inventory Improvement Program, Discussion of 2023 Investment and Discussion of
                                                Unbilled Uneamed C-Check
                                          •     Discussion of TZ and TE Manpower Fulfillment

 30 Oktober 2023                          •     Briefing, Roundtable Discussion and Open Items
 October 30, 2023                         •     Pembahasan Pemenuhan Manpower TA, TX, TP dan Tl
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion of TA, TX, TP and Tl Manpower Fulfillment

 8 November 2023                          •     Pembahasan Pembiayaan Project Engine TV
 November 8, 2023                         •     Pembahasan Komitmen Cashflow dan Investing Cashflow
                                          •     Discussion of Project Engine TV Financing
                                          •     Discussion of Cashflow Commitments and Investing Cashflow

 13 November 2023                         •     Briefing, Roundtable Discussion and Open Items
 November 13, 2023                        •     Pembahasan dan Update Hasil Rekonsiliasi Account Receivable (AR) Citilink
                                          •     Update Proposal Perjanjian Power by the Hour (PBTH) Citilink
                                          •     Pembahasan dan Update Pengadaan Aircraft Towing Widebody (ATW) dan Air Starter Unit (ASU)
                                          •     Pembahasan dan Update Kerjasama Independent Power Producer (IPP)
                                          •     Briefing, Roundtable Discussion and Open Items
                                          •     Discussion and Update on Citilink Account Receivable (AR) Reconciliation Results
                                          •     Update on Citilink's Power by the Hour (PBTH) Agreement Proposal
                                          •     Discussion and Update on Procurement of Aircraft Towing Widebody (ATW) and Air Starter Unit (ASU)
                                          •     Discussion and Update on Independent Power Producer (IPP) Cooperation




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                                                                  Risalah Rapat Internal Direksi
                                                                   Minutes of Internal Meeting
                  Tanggal Rapat                                                               Agenda Rapat
                   Meeting Date                                                              Meeting Agenda

        21 November 2023                         •    Briefing, Roundtable Discussion and Open Items
        November 21, 2023                        •    Pembahasan Tunjangan Lisensi Non-Aircraft
                                                 •    Pembahasan dan Persetujuan Pemenuhan Manpower dinas TR, TF, TU dan TM
                                                 •    Pembahasan Batasan Kewenangan Kegiatan Usaha
                                                 •    Pemenuhan Persyaratan Tindak Lanjut Perubahan Area GMF dari Sisi Udara menjadi Sisi Darat
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion of Non-Aircraft License Allowances
                                                 •    Discussion and Approval of Manpower Fulfillment for TR, TF, TU and TM services
                                                 •    Discussion of Business Activity Authority Limitations
                                                 •    Fulfillment of Follow-up Requirements for Changes in GMF Area from Air Side to Land Side

        4 Desember 2023                          •    Briefing, Roundtable Discussion and Open Items
        December 4, 2023                         •    Pembahasan Component Leasing
                                                 •    Pembahasan dan Update Pengadaan Aircraft Towing Tractor Wide Body (ATW) dan Air Starter Unit (ASU)
                                                 •    Pembahasan dan Pengajuan Persetujuan Konsesi Station Kualanamu
                                                 •    Update Rencana Kerjasama Pemanfaatan Lahan Koridor dengan Kokarga
                                                 •    Pembahasan dan Persetujuan Pemenuhan Manpower Planning TD, TH dan TS
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Discussion of Component Leasing
                                                 •    Discussion and Update on Procurement of Aircraft Towing Tractor Wide Body (ATW) and Air Starter
                                                      Unit (ASU)
                                                 •    Discussion and Submission of Kualanamu Station Concession Approval
                                                 •    Update on Corridor Land Utilization Collaboration Plan with Kokarga
                                                 •    Discussion and Approval of Manpower Planning Fulfillment for TD, TH and TS

        13 Desember 2023                         •    Briefing, Roundtable Discussion and Open Items
        December 13, 2023                        •    Pengajuan Persetujuan Konversi TAD – PKWT Inventory & Stock Opname Management
                                                 •    Pembahasan dan Persetujuan Pengadaan Kendaraan
                                                 •    Pembahasan dan Update Skema Material Handling
                                                 •    Pembahasan Tunjangan Lisensi Non-Aircraft
                                                 •    Pembahasan dan Persetujuan Pemenuhan Manpower dinas TR, TF, TU dan TM
                                                 •    Pembahasan Batasan Kewenangan Kegiatan Usaha
                                                 •    Pemenuhan Persyaratan Tindak Lanjut Perubahan Area GMF dari Sisi Udara menjadi Sisi Darat
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Submission of TAD Conversion Approval – PKWT Inventory & Stock Management
                                                 •    Discussion and Approval of Vehicle Procurement
                                                 •    Discussion and Update on Material Handling Scheme
                                                 •    Discussion of Non-Aircraft License Allowances
                                                 •    Discussion and Approval of Manpower Fulfillment for TR, TF, TU and TM services
                                                 •    Discussion of Business Activity Authority Limitations
                                                 •    Fulfillment of Follow-up Requirements for Changes in GMF Area from Air Side to Land Side

        19 Desember 2023                         •    Briefing, Roundtable Discussion and Open Items
        December 19, 2023                        •    Kebijakan Sumber Daya Manusia 2024
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Human Resources Policy 2024

        27 Desember 2023                         •    Briefing, Roundtable Discussion and Open Items
        December 27, 2023                        •    Persetujuan Penunjukan Independent Auditor EASA
                                                 •    Briefing, Roundtable Discussion and Open Items
                                                 •    Approval of the Appointment of EASA Independent Auditor


      PENGUNGKAPAN HUBUNGAN AFILIASI                                                 DISCLOSURE OF AFFILIATION AMONG
      DEWAN KOMISARIS DAN DIREKSI                                                    BOARD OF COMMISSIONERS AND
                                                                                     DIRECTORS

      Pengungkapan hubungan afiliasi mencakup hubungan keluarga                      Affiliated relations include family and financial relationships.
      dan hubungan keuangan. Bentuk hubungan keuangan termasuk                       The financial relationships are accounts receivable, business
      di antaranya hutang-piutang, kerja sama bisnis, karyawan dan                   cooperation, employees and companies, and so on. The family
      perusahaan, dan sebagainya. Sedangkan bentuk hubungan                          relationship includes special relationships of blood ties such as
      keluarga mencakup hubungan istimewa terutama yang                              husband/wife/children/parents/siblings/in-laws, and so on.
      disebabkan hubungan pertalian darah seperti suami/istri/anak/
      orang tua/saudara kandung/ipar, dan sebagainya.




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                                                  Hubungan Afiliasi                            Kepengurusan pada Perusahaan/Institusi Lain
                                                     Affiliation                                       Position in Other Companies

                                                                      Pemegang Saham            Sebagai
    Nama dan Posisi                                                      Utama dan              Anggota           Sebagai Anggota           Jabatan
    Name and Position           Dewan Komisaris        Direksi
                                                                        Pengendali               Direksi          Dewan Komisaris           Lainnya
                                   Board of           Board of
                                                                         Major and             As member         As Member of Board          Other
                                 Commissioners        Directors
                                                                         Controlling           of Board of        of Commissioners          Position
                                                                        Shareholders            Directors

 Dewan Komisaris
 Board of Commissioners

 Dharmadi*                               x                x                   x                    x                       x                    v
 Komisaris Utama
 President Commissioner

 Rahmat Hanafi                           x                x                   v                    v                       x                    x
 Komisaris
 Commissioner

 Ali Gunawan                             x                x                   x                    v                       v                    x
 Komisaris Independen
 Independent
 Commissioner

 Abhan                                   x                x                   x                    x                       x                    x
 Komisaris Independen
 Independent
 Commissioner

 Agit Atriantio                          x                x                   x                    x                       x                    v
 Komisaris Independen
 Independent
 Commissioner

 Direksi
 Board of Directors

 Andi Fahrurrozi                         x                x                   x                    x                       x                    x
 Direktur Utama
 CEO

 Irvan Pribadi                           x                x                   x                    x                       x                    x
 Direktur Base Operation
 Director of Base
 Operations

 Pudjo Sarwoko                           x                x                   x                    x                       v                    x
 Direktur Human Capital
 & Corporate Affairs
 Director of Human
 Capital & Corporate
 Affairs

 Salusra Satria                          x                x                   x                    x                       x                    x
 Direktur Keuangan
 Director of Finance

 Mukhtaris                               x                x                   x                    x                       x                    x
 Direktur Line Operation
 Director of Line
 Operation

 Ananta Widjaja*                         x                x                   x                    x                       x                    x
 Direktur Business & Base
 Operation
 Director of Business &
 Base Operations

 *) Keterangan | Notes:
 v = terdapat adanya hubungan | there is a relationship
 x = tidak terdapat adanya hubungan | there is no relationship
 Sdr. Ananta Widjaja tidak lagi menjabat sejak 2023 | He is no longer in the position since 2023




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      RANGKAP JABATAN DEWAN KOMISARIS                                                 CONCURRENT POSITION OF THE BOARD OF
                                                                                      COMMISSIONERS
      Kebijakan rangkap jabatan Dewan Komisaris telah diatur dalam                    The concurrent policy for the Board of Commissioners refers
      Anggaran Dasar dan Pedoman Dewan Komisaris. Seluruh Dewan                       to the Articles of Association and the Board of Commissioners
      Komisaris Perseroan pada waktu bersamaan tidak diperbolehkan                    Manual. The Company’s Board of Commissioners is not allowed
      merangkap jabatan dengan ketentuan sebagai berikut:                             to hold concurrent positions as follow:
      1. Mempunyai jabatan sebagai anggota Direksi BUMN, Badan                        1. Having a position as a member of the Directors of SOEs,
         Usaha Milik Daerah (BUMD), Badan Usaha Milik Swasta,                             Regionally Owned Enterprises (BUMD), Business Entities
         kecuali rangkap jabatan sebagai Direksi pada BUMN yang                           Private owned, except for concurrent positions as Directors
         merupakan pemegang saham pengendali Perseroan atau                               of BUMN that are the holders Company’s controlling shares
         apabila diatur lain oleh peraturan perundang-undangan;                           or if regulated other by statutory regulations;
      2. Mempunyai jabatan sebagai pengurus partai politik dan/                       2. Has a position as a manager of a political party and/or
         atau anggota legislative dan/atau calon kepala daerah/                           legislative members and/or candidates for head region/
         wakil kepala daerah;                                                             deputy head of region;
      3. Mempunyai jabatan lainnya sesuai dengan ketentuan                            3. Having other positions in accordance with the provisions of
         peraturan perundang-undangan; dan/atau                                           the legislation; and/or
      4. Mempunyai jabatan lain yang dapat menimbulkan benturan                       4. Having another position that can give rise to conflict of
         kepentingan.                                                                     interest.
      5. Anggota Dewan Komisaris dapat merangkap jabatan sebagai:                     5. Members of the Board of Commissioners can concurrently
                                                                                          position as:
          a. Anggota Direksi paling banyak pada 2 (dua) Emiten atau                       a. Members of the Board of Directors are no more than 2
             Perusahaan Publik lain; dan                                                        (two) Issuers or other public companies; and
          b. Anggota Dewan Komisaris paling banyak pada 2 (dua)                           b. Members of the Board of Commissioners are at most
             Emiten atau Perusahaan Publik lain.                                                2 (two) Issuers or other Public Companies.

      Pada tahun 2023, terdapat 4 (empat) orang anggota Dewan                         In 2023, there was 4 (four) member of the Company’s Board of
      Komisaris Perseroan yang mempunyai jabatan rangkap pada                         Commissioners who held a concurrent position in a subsidiary,
      anak perusahan, perusahaan patungan, dan/atau perusahaan                        joint venture, and/or other companies.
      lain.


                                            Jabatan pada Anak Perusahaan, Perusahaan Patungan, dan/atau Perusahaan
                    Nama                                                                                                                   Periode
                                                                                     lain
                    Name                                                                                                                    Period
                                                    Position in Subsidiaries, Joint Ventures, and/or other Companies

        Dharmadi                           •   Wakil Sekretaris Jenderal Indonesia National Air Carriers Association              2022 - sekarang
                                               Deputy Secretary General of the Indonesia National Air Carriers Association        2022 - present
                                           •   Anggota Komisaris Flybest Flight Academy
                                               Member of Commissioner Flybest Flight Academy                                      2022 - sekarang
                                                                                                                                  2022 - present

        Rahmat Hanafi                      Direktur Teknik PT Garuda Indonesia (Persero) Tbk                                      2020 - sekarang
                                           Director of Technic PT Garuda Indonesia (Persero) Tbk                                  2020 - present

        Agit Atriantio                     Asisten Khusus Menteri Kelautan dan Prikanan (KKP)                                     2021 - sekarang
                                           Special Assistant to the Minister of Maritime Affairs and Fisheries                    2021 - present

        Ali Gunawan                        •   Komisaris PT Allo Bank Indonesia Tbk                                               2021 - sekarang
                                               Commissioner of PT Allo Bank Indonesia Tbk                                         2021 - present
                                           •   Komisari Utama PT Asuransi Umum Mega                                               2011 - sekarang
                                               President Commissioner of PT Asuransi Umum Mega                                    2011 - present
                                           •   Pengendali Keuangan Grup PT CT Corpora                                             2004 - sekarang
                                               Group Financial Controller PT CT Corpora                                           2004 - present



      RANGKAP JABATAN DIREKSI                                                         CONCURRENT POSITION OF THE BOARD OF
                                                                                      DIRECTORS
      Sebagaimana diatur dalam Anggaran Dasar dan Pedoman                             As stipulated in the Articles of Association and Guidelines
      Direksi, anggota Direksi GMF dilarang merangkap jabatan                         for Directors, members of the GMF Directors are prohibited
      sebagai:                                                                        concurrently serving as:
      1. Anggota Direksi pada BUMN, Badan Usaha Milik Daerah                          1. Member of the Board of Directors of SOEs, Owned Enterprises
         (BUMD), dan badan usaha milik swasta;                                            Regions (“BUMD”), and private-owned business entities;
      2. Anggota Dewan Komisaris/Dewan Pengawas pada Badan                            2. Members of the Board of Commissioners/Supervisory Board
         Usaha Milik Swasta;                                                              in Private Enterprises;



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3. Jabatan struktural dan fungsional lainnya pada instansi/                3. Other structural and functional positions in central
   lembaga pemerintah pusat/dan/atau daerah;                                  government agencies/institutions/and/or area;
4. Jabatan Jabatan lainnya sesuai dengan ketentuan dalam                   4. Other positions in accordance with the provisions in statutory
   peraturan perundang-undangan, pengurus partai politik                      regulations, management political parties and/or candidates/
   dan/atau calon/anggota legislative dan/atau calon kepala                   legislative members and/or regional head, deputy regional
   daerah, wakil kepala daerah; dan/atau;                                     head candidates; and/or;
5. Jabatan lain yang berpotensi menimbulkan benturan                       5. Other positions that have the potential to cause conflicts of
   kepentingan dengan perusahaan yang bersangkutan;                           interest with that company concerned;
6. Anggota Dewan Komisaris pada perusahaan swasta, kecuali:                6. Members of the Board of Commissioners of a private
                                                                              company, except:
    a. Anggota Dewan Komisaris pada Anak Perusahaan atau                      a. Member of the Board of Commissioners of a Subsidiary or
       perusahaan patungan antara Perseroan dengan pihak                           a joint venture between the Company with other parties,
       lainnya, dengan ketentuan hanya berhak atas akumulasi                       with provisions only is entitled to the accumulation of
       penghasilan sebagai anggota Dewan Komisaris pada                            income as a member of the Board of Commissioners
       satu atau lebih Anak Perusahaan/Perusahaan patungan                         at one or more Subsidiaries/Joint ventures a maximum
       maksimal sebesar 30% (tiga puluh persen dari gaji                           of 30% (thirty percent of salary the relevant Directors
       anggota Direksi yang bersangkutan di Perseroan,                             in the Company, while other income or the rest turned
       sedangkan penghasilan lain atau selebihnya diserahkan                       over to the Company’s income;
       menjadi penghasilan Perseroan;
    b. Anggota Dewan Komisaris untuk mewakili atau                             b.   Members of the Board of Commissioners to represent
       memperjuangkan kepentingan Perseroan (seperti pada                           or fight for the interests of the Company (such as on PT
       PT Bursa Efek Indonesia) atau anggota Dewan Komisaris                        Indonesia Stock Exchange) or members The Board of
       karena kewajiban yang ditentukan oleh peraturan                              Commissioners because of its obligations determined
       perundang-undangan.                                                          by statutory regulations.

Pada tahun 2023, terdapat seorang anggota Direksi Perseroan                In 2023, there was a member of the Company’s Board of
yang mempunyai jabatan rangkap pada anak perusahan,                        Directors who held a concurrent position in a subsidiary, joint
perusahaan patungan, dan/atau perusahaan lain.                             venture, and/or other companies.


                                     Jabatan pada Anak Perusahaan, Perusahaan Patungan, dan/atau Perusahaan
             Nama                                                                                                             Periode
                                                                              lain
             Name                                                                                                              Period
                                             Position in Subsidiaries, Joint Ventures, and/or other Companies

         Pudjo Sarwoko                          Komisaris Utama PT Garuda Daya Pratama Sejahtera (GDPS)                   2023 - sekarang
                                           President Commissioner of PT Garuda Daya Pratama Sejahtera (GDPS)               2023 - present



PENGUNGKAPAN KEPEMILIKAN SAHAM                                             DISCLOSURE OF SHARE OWNERSHIP AMONG
DEWAN KOMISARIS DAN DIREKSI [2-15]                                         THE BOARD OF COMMISSIONERS AND
                                                                           DIRECTORS [2-15]

Kepemilikan saham anggota Dewan Komisaris dan Direksi, baik                Share ownership of members of the Board of Commissioners
di GMF ataupun perusahaan lainnya senantiasa diungkapkan                   and Board of Directors, whether at GMF or other companies,
secara berkala melalui daftar kepemilikan saham anggota Dewan              is always disclosed periodically through the share ownership
Komisaris dan Direksi. Seluruh anggota Dewan Komisaris dan                 list of members of the Board of Commissioners and Board of
Direksi wajib menyampaikan transaksi pembelian dan penjualan               Directors. All members of the Board of Commissioners and
surat berharga kepada Sekretaris Perusahaan Otoritas Jasa                  Board of Directors must submit the securities transactions
Keuangan (OJK) paling lambat 3 (tiga) hari sejak terjadinya                to the Corporate Secretary of the Financial Services Authority
transaksi.                                                                 (OJK) not more than 3 (three) days after the transaction date.

Demi menjaga independensi, Komisaris Independen tidak                      To maintain its independence, the Independent Commissioners
diperkenankan, baik langsung maupun tidak langsung, memilikI               are not allowed, either directly or indirectly, to own GMF shares.
saham GMF. Walaupun demikian, di sepanjang tahun 2022,                     However, throughout 2022, each member of the Company’s
setiap anggota Dewan Komisaris Perusahaan tercatat tidak                   Board of Commissioners did not own any share at GMF.
memiliki saham GMF.




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      Sedangkan sejumlah anggota Dewan Komisaris dan anggota                       Meanwhile, several members of the Board of Commissioners
      Direksi tercatat memiliki saham GMF secara langsung melalui                  and Directors have a direct share ownership of GMF through
      program Employee Stock Allocation (“ESA”) pada saat IPO GMF                  the Employee Stock Allocation (“ESA”) program during GMF’s
      dan yang bersangkutan masih aktif sebagai pegawai GMF. Pada                  IPO and they are still active as GMF employees. In 2023, there
      tahun 2023, tidak terdapat perubahan kepemilikan saham GMF                   were no changes in GMF share ownership by members of the
      oleh anggota Dewan Komisaris dan Direksi mulai dari awal tahun               Board of Commissioners and Directors from the beginning of
      buku hingga akhir tahun buku.                                                the financial year to the end of the financial year.


                                        Kepemilikan Saham Dewan Komisaris dan Direksi Per 31 Desember 2023
                                   Share Ownership of the Board of Commissioners and Directors as of December 31, 2023
                                                                                          Kepemilikan Saham
                  Nama dan Posisi                                                          Share Ownership
                  Name and Position                                                PT Garuda Indonesia (Persero)        Perusahaan Lain (di atas 5%)
                                                              GMF
                                                                                               Tbk                       Other Company (above 5%)

        Dewan Komisaris
        Board of Commissioners

        Dharmadi*                                                          Nihil                                Nihil                               Nihil
        Komisaris Utama                                                   None                                 None                                None
        President Commissioner

        Rahmat Hanafi                                                      Nihil    3,846,004 lembar saham | shares                                 Nihil
        Komisaris                                                         None                                                                     None
        Commissioner

        Ali Gunawan                                                        Nihil                                Nihil                               Nihil
        Komisaris Independen                                              None                                 None                                None
        Independent Commissioner

        Abhan                                                              Nihil                                Nihil                               Nihil
        Komisaris Independen                                              None                                 None                                None
        Independent Commissioner

        Agit Atriantio                                                     Nihil                                Nihil                               Nihil
        Komisaris Independen                                              None                                 None                                None
        Independent Commissioner

        Direksi
        Board of Directors

        Andi Fahrurrozi                                  144,400 lembar saham                                   Nihil                               Nihil
        Direktur Utama                                          144,400 shares                                 None                                None
        CEO

        Irvan Pribadi                                     62,800 lembar saham                                   Nihil                               Nihil
        Direktur Base Operation                                  62,800 shares                                 None                                None
        Director of Base Operations

        Pudjo Sarwoko                                     89,200 lembar saham                                   Nihil                               Nihil
        Direktur Human Capital & Corporate                       89,200 shares                                 None                                None
        Affairs
        Director of Human Capital & Corporate
        Affairs

        Salusra Satria                                                     Nihil                                Nihil                               Nihil
        Direktur Keuangan                                                  Nihil                               None                                None
        Director of Finance

        Mukhtaris                                                          Nihil               25,460 lembar saham      275,000 lembar saham | shares
        Direktur Line Operation                                             Nih                       25,460 shares
        Director of Line Operation

        Ananta Widjaja*                                                    Nihil                                Nihil                               Nihil
        Direktur Business & Base Operation                                None                                 None                                None
        Director of Business & Base Operations

        *) Keterangan | Notes:
        • Sdr. Dharmadi menjabat sejak 28 Juni 2023 | He is serving since June 28, 2023
        • Sdri. Maria Kristi Endah Murni tidak lagi menjabat sejak 28 Juni 2023 | She is no longer in the position since June 28, 2023
        • Sdr. Gatot Sulistiantoro Dewa Broto tidak lagi menjabat sejak 28 Juni 2023 | He is no longer in the position since June 28, 2023
        • Sdr. Ananta Widjaja tidak lagi menjabat sejak 28 Juni 2023 | He is no longer in the position since June 28, 2023




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KEBIJAKAN PEMBERIAN PINJAMAN BAGI                                  LOAN POLICY FOR THE BOARD OF
DEWAN KOMISARIS DAN DIREKSI                                        COMMISSIONERS AND DIRECTORS

Sebagaimana diatur dalam Piagam Dewan Komisaris dan                As stipulated in both Manual of the Board of Commissioners
Piagam Direksi, Perseroan tidak memberikan fasilitas pinjaman      and Directors, the Company does not provide loan facilities to
kepada anggota Dewan Komisaris dan Direksi dalam menjaga           either of them ensuring the maintenance of GCG implementation.
implementasi GCG.

KEBIJAKAN PENGUNDURAN DIRI DEWAN                                   POLICIES ON RESIGNATION OF THE BOARD
KOMISARIS DAN DIREKSI APABILA TERLIBAT                             OF COMMISSIONERS AND BOARD OF
DALAM KEJAHATAN KEUANGAN                                           DIRECTORS IF INVOLVED IN FINANCIAL
                                                                   CRIMES

Sebagaimana diatur dalam Piagam Dewan Komisaris dan Piagam         As stipulated in both Manual of the Board of Commissioners and
Direksi, anggota Dewan Komisaris dan Direksi yang telah terbukti   Directors, members who are proven to be involved in financial
terlibat dalam kejahatan keuangan melalui penetapan status         crimes and are convicted by the legal authority, are required
terpidana dari pihak yang berwenang, wajib mengundurkan diri       to resign from their positions. The financial crimes referred to
dari jabatannya. Adapun kejahatan keuangan yang dimaksud           include manipulation and various forms of embezzlement in
seperti manipulasi dan berbagai bentuk penggelapan dalam           financial services activities, as well as criminal acts of money
kegiatan jasa keuangan serta Tindakan Pidana Pencucian Uang        laundering as outlined in Law Number 8 of 2010 concerning
sebagaimana dimaksud dalam Undang-Undang Nomor 8 Tahun             Prevention and Eradication of the Crime of Money Laundering.
2010 tentang Pencegahan dan Pemberantasan Tindak Pidana
Pencucian Uang.




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      SEKRETARIS DEWAN KOMISARIS
      Secretary to the Board of Commissioners


      Sekretaris Dewan Komisaris merupakan organ pendukung                             The Secretary to the Board of Commissioners is the Board’s
      Dewan Komisaris yang bertugas memastikan Dewan Komisaris                         supporting organ to ensure that the Board applies the best
      menerapkan prinsip-prinsip GCG sesuai dengan best practices                      practice of GCG principles according to the prevailing laws and
      dan peraturan perundang-udangan yang berlaku. Selain itu,                        regulations. The Secretary to the Board of Commissioners has
      Sekretaris Dewan Komisaris juga mempunyai tugas dan fungsi                       to carry out administrative and secretarial activities of the Board
      untuk melakukan kegiatan administrasi dan kesekretariatan                        as the supervisor of the Company’s management.
      sesuai fungsi Dewan Komisaris sebagai pengawas pengelolaan
      Perseroan.

      MASA JABATAN                                                                     TERM OF OFFICE

      Sekretaris Dewan Komisaris memiliki masa jabatan 3 (tiga)                        The Secretary to the Board of Commissioners has a 3 (three)
      tahun terhitung sejak Surat Keputusan yang mengangkatnya,                        year period since his appointment Decree and can be extended
      dan dapat diperpanjang 1 (satu) kali periode. Dewan Komisaris                    for 1 (one) term. The Board of Commissioners has the right to
      memiliki hak untuk memberhentikan sekretarisnya sewaktu-                         dismiss its secretary at any time as regulated.
      waktu sesuai dengan ketentuan yang berlaku.

      PROFIL SEKRETARIS DEWAN KOMISARIS                                                PROFILE OF THE SECRETARY TO THE BOARD
                                                                                       OF COMMISSIONERS

      Sekretaris Dewan Komisaris dijabat oleh Yogi Aditama, yang                       The Secretary of the Board of Commissioners is Yogi Aditama,
      diangkat berdasarkan Surat Keputusan Dewan Komisaris                             who was appointed based on the Decree of the Board of
      No. DEKOM-GMF/SKEP/5001/20 dan kemudian dilakukan                                Commissioners No. DEKOM-GMF/SKEP/5001/20 and then
      masa perpanjangan sebagai Sekretaris Dewan Komisaris                             extended as Secretary of the Board of Commissioners based on
      berdasarkan Surat Keputusan Dewan Komisaris No. DEKOM-                           the Decree of the Board of Commissioners No. DEKOM-GMF/
      GMF/SKEP/5001/23 dengan masa jabatan 2 (dua) tahun.                              SKEP/5001/23 with a term of office of two (2) years.


        Yogi Aditama
        Sekretaris Dewan Komisaris
        Secretary to the Board of Commissioners

            Periode          Periode jabatan pertama yang berlaku 2020-2023, dan diperpanjang untuk periode kedua yaitu 2023-2025.
            Jabatan          Serving his first term from 2020 to 2023, and extended from 2023 until 2025.
             Period
                             Warga Negara Indonesia                                       Indonesian Citizen
         Data Pribadi
                             Usia 33 tahun                                                33 years old
         Personal Data
                             Kelahiran Kediri, 14 November 1990                           Born in Kediri, November 14, 1990

            Domisili         Tangerang, Banten, Indonesia
            Domicile

          Pendidikan         Magister (S2) Ilmu Hukum, Universitas Indonesia
           Education         Master’s Degree in Law from the University of Indonesia

                             •   SM Subsidiaries & Affiliations- PT Garuda Indonesia      •   SM Subsidiaries & Affiliations- PT Garuda Indonesia (Persero) Tbk
                                 (Persero) Tbk (2022-sekarang)                                (2022-present)
                             •   GCG Analyst – PT Garuda Indonesia (Persero) Tbk (2019-   •   GCG Analyst - PT Garuda Indonesia (Persero) Tbk (2019-2022)
         Pengalaman              2022)
            Kerja            •   Corporate Governance Analyst – PT GMF Aero Asia Tbk      •   Corporate Governance Analyst - PT GMF Aero Asia Tbk (2019-2020)
            Work                 (2019-2020)
          Experience         •   GCG Compliance Officer – PT GMF Aero Asia Tbk (2017-     •   GCG Compliance Officer - PT GMF Aero Asia Tbk (2017-2018)
                                 2018)
                             •   GCG Analyst – PT GMF Aero Asia Tbk (2018)                •   GCG Analyst - PT GMF Aero Asia Tbk (2018)
                             •   Legal Officer – PT GMF Aero Asia (2014-2017)             •   Legal Officer - PT GMF Aero Asia (2014-2017)




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                      Pelatihan dan Workshop:                                        Training and Workshop:
                      • E-Filling Management;                                        • E-Filling Management;
                      • Tata Kelola Pengendalian Gratifikasi & Whistleblowing;       • Gratification Control & Whistleblowing Governance;
                      • Enterprise Risk Governance;                                  • Enterprise Risk Governance;
                      • Strategi Anti Fraud dan Whistleblowing System sebagai        • Anti Fraud Strategy and Whistleblowing System as Part of Corporate
                          Bagian Strategi Korporasi;                                     Strategy;
                      • Tanggung Jawab Direksi dan Dewan Komisaris dan Tindak        • Responsibility of the Board of Directors and Board of Commissioners
                          Pidana terkait Korporasi;                                      and Criminal Offences related to Corporations;
                      • Anti-Coruption “Collective Action: Turning Pledges into      • Anti-Corruption “Collective Action: Turning Pledges into Reality”;
                          Reality“;
                      • Membedah Aspek Hukum Praktik Bisnis Anti Suap Sebagai        •   Dissecting the Legal Aspects of Anti-Bribery Business Practices as
                          Tindak Pidana Korporasi Berdasarkan Tata Aturan Di             a Corporate Offence Based on Indonesian Rules;
                          Indonesia;
                      • ISO 37001:2016 Awareness;                                    •   ISO 37001:2016 Awareness;
                      • ISO 37001:2016 Internal Auditor;                             •   ISO 37001:2016 Internal Auditor;
                      • E-Learning Bimbingan Teknis Pengendalian Gratifikasi;        •   E-Learning Technical Guidance on Gratification Control;
                      • GRC Strategy – Mengintegrasikan Governance, Risk &           •   GRC Strategy - Integrating Governance, Risk & Compliance in
                          Compliance dalam Corporate Strategy;                           Corporate Strategy;
 Latar Belakang       • Memahami Teori dan Praktik Assessment GCG                    •   Understanding the Theory and Practice of GCG Assessment Based
   Pendidikan             Berdasarkan Parameter Kementerian BUMN (SK 16/S.               on Ministry of SOE Parameters (SK 16/S.MBU/2012);
    dan/atau              MBU/2012);
    Sertifikasi       • Governance Fundamentals.                                     •   Governance Fundamentals.
  Profesi yang
     Berlaku          Sertifikasi:                                                   Certification:
   Educational        • Pendidikan Profesi Konsultan Hukum Pasal Modal Dasar 1;      • Legal Consultant Professional Education Article Basic Capital 1;
  Background          • Certified Governance Professional;                           • Certified Governance Professional;
  and/or Valid        • Certified Risk Management Officer.                           • Certified Risk Management Officer.
   Professional
   Certificates       Seminar:                                                       Seminar:
                      • Seminar Pendalaman POJK No.32/POJK.04/2014 tentang           • Deepening Seminar on POJK No.32/POJK.04/2014 on the Plan
                         Rencana dan Penyelenggaraan RUPS Perusahaan                    and Organisation of GMS of Public Companies and POJK No.13/
                         Terbuka dan POJK No.13/POJK.03/2017 tentang                    POJK.03/2017 on the Use of Public Accountant Services and Public
                         Penggunaan Jasa Akuntan Publik dan Kantor Akuntan              Accountant Office in Financial Services Activities;
                         Publik dalam Kegiatan Jasa Keuangan;
                      • Penilaian ASEAN Corporate Governance Scorecard;              •   ASEAN Corporate Governance Scorecard Assessment;
                      • POJK Nomor: 33/POJK.04/2014 tentang Direksi dan              •   POJK Number: 33/POJK.04/2014 regarding the Board of Directors
                         Dewan Komisaris Emiten atau Perusahaan Publik &                 and Board of Commissioners of Issuers or Public Companies & POJK
                         POJK Nomor 58/POJK.04/2017 tentang penyampaian                  Number 58/POJK.04/2017 regarding the submission of Registration
                         Pernyataan Pendaftaran atau Pengajuan Aksi Korporasi            Statements or Electronic Submission of Corporate Actions;
                         Secara Elektronik;
                      • Enterprise Risk Management Workshop;                         •   Enterprise Risk Management Workshop;
                      • Penerapan Peraturan Menteri BUMN Nomor PER-1/                •   Implementation of SOE Ministerial Regulations Number PER-1/
                         MBU/03/2023, PER-2/ MBU/03/2023 dan PER-3/                      MBU/03/2023, PER-2/ MBU/03/2023 and PER-3/MBU/03/2023
                         MBU/03/2023 untuk Meningkatkan Kinerja Anak                     to Improve the Performance of SOE Subsidiaries and Affiliated
                         Perusahaan dan Perusahaan Terafiliasi BUMN sesuai               Companies in accordance with the Principles of Good Corporate
                         dengan Prinsip-Prinsip Tata Kelola Perusahaan yang              Governance (‘’GCG’’).
                         Baik(‘’GCG’’).


TUGAS DAN TANGGUNG JAWAB SEKRETARIS                                               DUTIES AND RESPONSIBILITIES OF
DEWAN KOMISARIS                                                                   THE SECRETARY TO THE BOARD OF
                                                                                  COMMISSIONERS

Dalam melaksanakan tugasnya, Sekretaris Dewan Komisaris                           In carrying out its duties, the Secretary to the Board of
mengacu pada Pedoman Kerja yang tercantum dalam Pedoman                           Commissioners refers to the Guidelines listed in the Guidelines
Direksi dan Dewan Komisaris, dengan tugas dan tanggung                            in the Board Manual as follows:
jawab sebagai berikut:
1. Mengkoordinasikan pengurusan komunikasi dan                                    1. Coordinating the management of communication and
   penyelenggaraan administrasi Dewan Komisaris dan                                  administration of the Board of Commissioners and the
   kesekretariatan Dewan Komisaris sesuai hukum dan prinsip                          Secretariat of the Board of Commissioners in accordance
   GCG;                                                                              with the law and GCG principles;
2. Mempersiapkan keputusan terhadap usulan perbuatan                              2. Prepare a decision on the proposed legal actions of the
   hukum Direksi yang memerlukan persetujuan tertulis Dewan                          Board of Directors that require written approval from the
   Komisaris;                                                                        Board of Commissioners;



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      3. Mempersiapkan materi awal dalam hal nasihat yang akan              3. Prepare preliminary material in terms of advice to be submitted
         disampaikan oleh Dewan Komisaris kepada Direksi;                       by the Board of Commissioners to the Board of Directors;
      4. Mempersiapkan pendapat dan saran (tanggapan) Dewan                 4. Prepare the opinions and suggestions (responses) of the
         Komisaris yang akan disampaikan kepada Rapat Umum                      Board of Commissioners which will be submitted to the
         Pemegang Saham mengenai RJPP, RKAP dan Laporan Tahunan;                General Meeting of Shareholders regarding RJPP, RKAP
                                                                                and Annual Report;
      5. Mempersiapkan tugas Dewan Komisaris dalam menyusun                 5. Prepare the duties of the Board of Commissioners in
         program kerja tahunan dan dimasukkan ke dalam RKAP;                    preparing the annual work program and incorporated into
                                                                                the RKAP;
      6. Mempersiapkan usulan Dewan Komisaris kepada RUPS                   6. Prepare the Board of Commissioners’ proposal to the GMS
          mengenai Akuntan Publik yang akan digunakan oleh Perseroan;           regarding Public Accountants to be used by the Company;
      7. Membuat risalah rapat Dewan Komisaris dan menyampaikan             7. Make minutes of Board of Commissioners’ meetings and
          aslinya kepada Perseroan serta menyimpan salinannya;                  submit the originals to the Company and keep a copy of them;
      8. Mempersiapkan materi laporan tentang tugas pengawasan              8. Preparing report material about the supervisory tasks that
          yang telah dilakukan oleh Dewan Komisaris selama tahun                have been carried out by the Board of Commissioners during
          buku terkait pada RUPS;                                               the relevant fiscal year at GMS;
      9. Mempersiapkan Panggilan Rapat Dewan Komisaris secara               9. Prepare a Notice for the Meeting of the Board of Commissioners
          tertulis yang ditandatangani oleh Komisaris Utama atau                in writing signed by the President Commissioner or by a
          oleh anggota Dewan Komisaris yang ditunjuk oleh Komisaris             member of the Board of Commissioners appointed by the
          Utama dan disampaikan kepada Anggota Dewan Komisaris                  President Commissioner and submitted to the Members
          dalam jangka waktu paling lambat 3 (tiga) hari sebelum rapat          of the Board of Commissioners no later than 3 (three) days
          diadakan atau dalam waktu yang lebih singkat jika dalam               before the meeting is held or in a shorter period if in an
          keadaan mendesak, dengan tidak memperhitungkan tanggal                emergency, not counting the date of the summons and the
          panggilan dan tanggal rapat;                                          date of the meeting;
      10. Membuat risalah rapat yang memuat dinamika rapat yang             10. Make minutes of meeting containing the dynamics of the
          mencerminkan akuntabilitas setiap peserta rapat, serta evaluasi       meeting that reflects the accountability of each meeting
          terhadap pelaksanaan keputusan rapat sebelumnya; dan                  participant, as well as an evaluation of the implementation
                                                                                of the decisions of the previous meeting; and
      11. Melaksanakan kewajiban lainnya yang ditugaskan oleh               11. Carry out other obligations assigned by the Board of
          Dewan Komisaris.                                                      Commissioners.

      PENGEMBANGAN KOMPETENSI SEKRETARIS                                    COMPETENCY DEVELOPMENT FOR
      DEWAN KOMISARIS                                                       THE SECRETARY TO THE BOARD OF
                                                                            COMMISSIONERS

      Pada tahun 2023, Sekretaris Dewan Komisaris mengikuti                 In 2023, the Secretary to the Board of Commissioners has
      sejumlah program pendidikan yang dapat dilihat pada bab Fungsi        participated in several educational programs that are available
      Penunjang Bisnis dalam Laporan Terintegrasi ini.                      in the chapter of Business Support Function of this Integrated
                                                                            Report.

      KEBIJAKAN REMUNERASI                                                  REMUNERATION POLICY

      Remunerasi Sekretaris Dewan Komisaris ditetapkan oleh                 The Board of Commissioners determines the remuneration of its
      Dewan Komisaris dengan memperhatikan kemampuan                        secretary by paying attention to the Company’s capabilities. The
      Perseroan. Besaran dan jenis penghasilan Sekretaris Dewan             amount and type of annual remuneration for the secretary are
      Komisaris selama setahun tidak lebih besar dari penghasilan           not greater than the income of other supporting bodies of the
      organ pendukung Dewan Komisaris lainnya. Besaran dan jenis            Board of Commissioners. The amount and type of remuneration
      penghasilan Sekretaris Dewan Komisaris terdiri dari:                  of the Secretary to the Board of Commissioners consist of:
      1. Honorarium maksimal sebesar 10% (sepuluh persen) dari              1. An honorarium not more than 10% (ten percent) of the
         gaji Direktur Utama Perusahaan;                                        President Director’s salary;
      2. Fasilitas;                                                         2. Facilities;
      3. Tunjangan; dan/atau                                                3. Allowances; and/or
      4. Tantiem atau insentif kerja.                                       4. Rewards or work incentives.




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LAPORAN PELAKSANAAN TUGAS TAHUN                                             REPORT OF 2023 DUTIES
2023

Sekretaris Dewan Komisaris telah melakukan berbagai kegiatan                The Secretary to the Board of Commissioners has done various
dalam mendukung pelaksanaan tugas pengawasan Dewan                          activities in supporting the Board of Commissioners in terms of
Komisaris dan menyampaikan laporan pelaksanaan tugasnya                     supervision and submitted its work reports throughout 2023
sepanjang tahun 2023, antara lain meliputi:                                 as follows:
1. Menyusun Rencana Kerja dan Anggaran (RKA) Dewan                          1. Prepare the Work Plan and Budget (RKA) of the Board of
   Komisaris;                                                                   Commissioners;
2. Menyusun program pelatihan Dewan Komisaris;                              2. Developing a training programme for the Board of
                                                                                Commissioners;
3. Mempersiapkan dan menghadiri kegiatan RUPS dalam RUPS                    3. Preparing and attending GMS activities in the RKAP GMS
   RKAP dan RUPS Laporan Pertanggungjawaban Keuangan                            and Annual Financial Accountability Report GMS;
   Tahunan;
4. Menyelenggarakan Rapat Internal Dewan Komisaris;                         4. Organising internal meetings of the Board of Commissioners;
5. Menyelenggarakan Rapat Dewan Komisaris dengan Direksi;                   5. Organising the Board of Commissioners Meeting with the
                                                                                Board of Directors;
6. Menyelenggarakan Rapat Dewan Komisaris dengan Komite                     6. Organising the Board of Commissioners Meeting with the
   Dewan Komisaris;                                                             Board of Commissioners Committee;
7. Mengkoordinasikan anggota komite, jika diperlukan, dalam                 7. Coordinating committee members, if necessary, in order to
   rangka memperlancar tugas Dewan Komisaris;                                   expedite the duties of the Board of Commissioners;
8. Membuat Risalah Rapat Dewan Komisaris dan menyampaikan                   8. Making Minutes of the Meeting of the Board of Commissioners
   aslinya kepada Perusahaan serta menyimpan salinannya;                        and submitting the original to the Company and keeping a
                                                                                copy;
9. Mempersiapkan materi laporan rutin kepada Pemegang                       9. Preparing materials for regular reports to the Shareholders
    Saham tentang tugas pengawasan yang telah dilakukan                         on the supervisory duties performed by the Board of
    oleh Dewan Komisaris;                                                       Commissioners;
10. Menyusun, mempersiapkan dan melengkapi kelengkapan                      10. Arrange, prepare and complete the GCG assessment of the
    GCG assessment aspek Dewan Komisaris;                                       Board of Commissioners aspect;
11. Mempersiapkan materi dan review dalam hal nasihat dan                   11. Preparing materials and reviews in terms of advice and
    tanggapan yang akan disampaikan oleh Dewan Komisaris                        responses to be submitted by the Board of Commissioners
    kepada Direksi; dan                                                         to the Board of Directors; and
12. Mempersiapkan keputusan terhadap usulan perbuatan                       12. Preparing decisions on proposed legal actions of the Board
    hukum Direksi yang memerlukan persetujuan tertulis Dewan                    of Directors that require written approval from the Board
    Komisaris;                                                                  of Commissioners.
13. Memastikan bahwa Dewan Komisari mematuhi peraturan                      13. Ensuring that the Board of Commissioners complies with
    perundang-undangan serta menerapkan prinsip tata kelola                     laws and regulations and applies the principles of good
    perusahaan yang baik;                                                       corporate governance;
14. Memberikan informasi yang dibutuhkan oleh Dewan                         14. Providing information required by the Board of Commissioners
    Komisaris secara berkala dan/atau sewaktu-waktu apabila                     periodically and/or at any time upon request;
    diminta;
15. Sebagai penghubung (liaison officer) Dewan Komisaris/                   15. Serving as a liaison officer for the Board of Commissioners/
    Dewan Pengawas BUMN dengan pihak lain.                                      Supervisory Board of SOEs with other parties.




                 GMF memiliki sejumlah Komite yang berperan penting untuk memastikan keberlanjutan
                   usaha, terutama dalam hal implementasi GCG terhadap manajemen risiko. Komite-
                  komite tersebut memiliki Pedoman Kerja yang telah diunggah di website resmi GMF
                                            dan dapat diakses oleh publik.
                   GMF owns several committees with important roles to support business sustainability, particularly in implementing
                   GCG principles on risk management. Those Committees work according to the Charter as guideline that has been
                                     been uploaded to the official website of GMF and accessible for the public.




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      KOMITE AUDIT DAN KEBIJAKAN CORPORATE
      GOVERNANCE
      Secretary to the Board of Commissioners
      Komite Audit dan Kebijakan Corporate Governance (KAKCG)            The Audit and Corporate Governance Committee (KAKCG)
      merupakan organ pendukung Dewan Komisaris yang bertugas            is the Board of Commissioners’ supporting body to provide
      untuk memberikan pendapat secara independen dan profesional        independent and professional opinions concerning internal
      mengenai pengendalian internal, keterbukaan, dan pelaporan         control, transparency, and financial report. KAKCG evaluates
      keuangan. KAKCG melakukan kajian terhadap akuntan publik           the public accountants and improves GCG practices concerning
      dan meningkatkan praktik GCG sehubungan dengan tugas dan           the Board of Commissioners’ supervisory duties and function.
      fungsi pengawasan Dewan Komisaris.

      Seluruh anggota KAKCG diangkat dan diberhentikan oleh Dewan        KAKCG members are appointed and dismissed by the Board
      Komisaris. KAKCG dibentuk dengan mengacu pada Peraturan OJK        of Commissioners. KAKCG was formed by referring to OJK
      No. 55/POJK.04/2015 tentang Pembentukan dan Pelaksanaan            Regulation No. 55/POJK.04/2015 concerning the Establishment
      Kerja Komite Audit.                                                and Implementation of the Audit Committee’s Work.

      MASA JABATAN                                                       TERM OF OFFICE

      KAKCG memiliki masa jabatan 3 (tiga) tahun terhitung sejak         The office period for KAKCG is set for 3 (three) years, starting
      Surat Keputusan yang mengangkatnya dan dapat diperpanjang          from the issuance of his appointment Decree with an extension
      satu kali selama 2 (dua) tahun masa jabatan. Dewan Komisaris       of another 2 (two) years. The Board of Commissioners has the
      memiliki hak untuk memberhentikan anggota komite sewaktu-          right to dismiss the committee’s members at any time as the
      waktu sesuai dengan ketentuan yang berlaku.                        regulation allows.

      KUALIFIKASI ANGGOTA                                                QUALIFICATIONS

      PEMBENTUKAN DAN SUSUNAN KEANGGOTAAN:                               FORMATION AND COMPOSITION:
      1. Komite Audit & GCG dibentuk dengan Keputusan Dewan              1. The Audit & GCG Committee is formed by Decision Board of
         Komisaris dan bertanggung jawab kepada Dewan Komisaris.            Commissioners and is responsible to Board of Commissioners.
      2. Komite Audit & GCG paling sedikit terdiri dari 3 (tiga) orang   2. The Audit & GCG Committee consists of at least 3 (three)
         anggota yang berasal dari Komisaris Independen dan Pihak           members who come from Commissioners Independent and
         dari luar.                                                         outside parties.
      3. Komite Audit & GCG merangkap Anggota yang merupakan             3. The Audit & GCG Committee is concurrently a Member is an
         Komisaris Independen.                                              Independent Commissioner.
      4. Anggota Audit & GCG lainnya merupakan Pihak yang berasal        4. Other Audit & GCG members are parties from outside the
         dari luar Perusahaan.                                              Company.

      PERSYARATAN KEANGGOTAAN                                            REQUIREMENTS:
      1. Komisaris Independen:                                           1. Independent Commissioner:
         a. Komisaris Independen wajib memenuhi persyaratan                 a. Independent Commissioners must fulfill requirements as
            sebagaimana diatur dalam Peraturan Otoritas Jasa                    regulated Financial Services Authority Number 33/POJK.
            Keuangan Nomor 33/POJK. 04/2014 tentang Direksi                     04/2014 concerning the Board of Directors and the Board
            Dan Dewan Komisaris Emiten atau Perusahaan Publik;                  of Commissioners of an Issuer or a public company;
      2. Anggota Audit & GCG:                                            2. Audit & GCG Members:
         a. Wajib memiliki integritas yang tinggi, kemampuan,               a. Must have high integrity, ability, knowledge, experience
            pengetahuan, pengalaman sesuai dengan bidang                        according to the field his job, and able to communicate well;
            pekerjaannya, serta mampu berkomunikasi dengan baik;
         b. Wajib memahami laporan keuangan, bisnis perusahaan              b. Must understand financial statements, business
            khususnya yang terkait dengan layanan jasa atau                    companies specifically related to Issuer services or
            kegiatan usaha Emiten atau Perusahaan Publik, proses               business activities Public Company, audit process,
            audit, manajemen risiko, dan peraturan perundang-                  management risk, and statutory regulations at Capital
            undangan di bidang Pasar Modal serta peraturan                     Market sector and legislation other related;
            perundang-undangan terkait lainnya;
         c. Wajib mematuhi kode etik Komite Audit yang ditetapkan            c.   Must comply with the Audit Committee’s code of ethics
            oleh Emiten atau Perusahaan Publik;                                   determined by the Issuer or Public Company;



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    d. Bersedia meningkatkan kompetensi secara terus                   d. Willing to increase competence continuously
        menerus melalui pendidikan dan pelatihan;                         continuously through education and training;
    e. Wajib memiliki paling sedikit 1 (satu) anggota yang             e. Wust have at least 1 (one) member with an educational
        berlatar belakang pendidikan dan keahlian di bidang               background and expertise in accounting and finance;
        akuntansi dan keuangan;
    f. Bukan merupakan orang dalam Kantor Akuntan Publik,              f. Not a person in the Accounting Firm Public, Legal
        Kantor Konsultan Hukum, Kantor Jasa Penilai Publik atau            Consultant Office, Service Office Public Appraiser or
        pihak lain yang memberi jasa asuransi, jasa non-asurans,           other party who gives insurance services, non-insurance
        jasa penilai dan/atau jasa konsultasi lain kepada Emiten           services, appraisal services and/or other consulting
        atau Perusahaan Publik yang bersangkutan dalam waktu               services to the Issuer or Public companies concerned
        6 (enam) bulan terakhir;                                           in within the past 6 (six) months;
    g. Bukan merupakan orang yang bekerja atau mempunyai               g. Not a person who works or has the authority and
        wewenang dan tanggung jawab untuk merencanakan,                    responsibility for plan, lead, control, or supervise
        memimpin, mengendalikan, atau mengawasi kegiatan                   the activities of the Issuer or Company The public is
        Emiten atau Perusahaan Publik tersebut dalam waktu                 within 6 (six) months lastly, except for Independent
        6 (enam) bulan terakhir, kecuali Komisaris Independen;             Commissioners;
    h. Tidak mempunyai saham langsung maupun tidak                     h. Do not have direct or indirect shares directly to the
        langsung pada Emiten atau Perusahaan Publik;                       Issuer or Public Company;
     i. Dalam hal anggota Komite Audit memperoleh saham                 i. In the event that a member of the Audit Committee
        Emiten atau Perusahaan Publik baik langsung maupun                 obtains Issuer or Public Company shares either directly
        tidak langsung akibat suatu peristiwa hukum, saham                 or indirectly as a result legal events, the shares must
        tersebut wajib dialihkan kepada pihak lain dalam jangka            be transferred to other parties in the most time period
        waktu paling lama 6 (enam) bulan setelah diperolehnya              6 (six) months after obtaining the shares;
        saham tersebut;
     j. Tidak mempunyai hubungan afiliasi dengan anggota                j.   Has no Affiliate relationship with members of the Board
        Dewan Komisaris, anggota Direksi, atau Pemegang                      of Commissioners, members of the Board of Directors,
        Saham Utama Emiten atau Perusahaan Publik; dan                       or Issuer’s Major Shareholders or Public company; and
    k. Tidak mempunyai hubungan usaha baik langsung                    k.    Do not have good direct business relations or indirectly
        maupun tidak langsung yang berkaitan dengan kegiatan                 related toIssuer or Public Company business activities.
        usaha Emiten atau Perusahaan Publik.

KOMPOSISI ANGGOTA KAKCG TAHUN 2023                                 COMPOSITION OF KAKCG MEMBERS IN 2023

        Nama                           Jabatan                        Dasar Pengangkatan                           Masa Jabatan
        Name                           Position                       Basis of Appointment                         Term of Office

 Ali Gunawan            Ketua/Komisaris                  SK DEKOM-GMF/SKEP/5002/21 tanggal 23 September      Mengikuti masa jabatan
                        Independen Chair/Independent     2021                                                sebagai Komisaris
                        Commissioner                     SK DEKOM-GMF/SKEP/5002/21 dated September           Independen
                                                         23, 2021                                            Followed his term
                                                                                                             as Independent
                                                                                                             Commissioner

 Dodi Yasendri          Anggota                          SK DEKOM-GMF/SKEP/5002/21 tanggal 23 September      23 September 2021 s.d 23
                        Member                           2021                                                September 2024
                                                         SK DEKOM-GMF/SKEP/5002/21 dated September           September23, 2021 to
                                                         23, 2021                                            September 23, 2024

 Edward       Okky      Anggota                          SK DEKOM-GMF/SKEP/5002/23 tanggal 05 Juli 2023      5 Juli 2023 s.d 5 Juli 2026
 Avianto                Member                           Decree DEKOM-GMF/SKEP/5002/23 dated July 5,         July 5, 2023 until July 5,
                                                         2023                                                2026




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      PROFIL ANGGOTA KAKCG                                                         PROFILE OF KAKCG MEMBERS

      Profil Ketua KAKCG, Ali Gunawan, dapat dilihat di profil                     The KAKCG Chair profile, Ali Gunawan, is available in the Board
      Dewan Komisaris pada bab Profil Perusahaan dalam Laporan                     of Commissioners’s Profile in the Company Profile chapter of
      Terintegrasi ini.                                                            this Integrated Report.


        Dodi Yasendri
        Anggota KAKCG
        KAKCG Member

                                                          Warga Negara Indonesia                              Indonesian Citizens
                         Data Pribadi
                                                          Usia 64 tahun                                       64 years old
                         Personal Data
                                                          Kelahiran Jember, 21 April 1960                     Born in Jember, April 21, 1960

                                                          Sarjana Teknik, Jurusan Mechanical Engineering dari Institut Teknologi Sepuluh Nopember (1985)
                          Pendidikan
                                                          Bachelor of Engineering, Majoring in Mechanical Engineering from the Sepuluh Nopember Institute
                           Education
                                                          of Technology (1985)

                                                          •   Executive Program Manager (2016-2019)
                      Pengalaman Kerja
                                                          •   Vice President Component Services (2015-2016)
                       Work Experience
                                                          •   Vice President Engineering Services (2013-2015)




        Edward Okky Avianto
        Anggota KAKCG
        KAKCG Member

                                                          Warga Negara Indonesia                              Indonesian Citizens
                         Data Pribadi
                                                          Usia 57 tahun                                       57 years old
                         Personal Data
                                                          Kelahiran Bandung, 23 Oktober 1966                  Born in Bandung, October 23, 1966

                          Pendidikan                      Sarjana, Jurusan Administrasi Niaga dari Universitas Katolik Parahyangan (1993)
                           Education                      Bachelor of Commerce Administration from Parahyangan Catholic University (1993)

                                                          •   Komisaris PT Garuda Daya Pratama                •   Commissioner of PT Garuda Daya Pratama
                                                              Sejahtera (2021-2023)                               Sejahtera (2021-2023)
                      Pengalaman Kerja
                                                          •   Direktur Keuangan PT Garuda Maintenance         •   Finance Director of PT Garuda Maintenance
                       Work Experience
                                                              Facility Aero Asia Tbk (2018-2022)                  Facility Aero Asia Tbk (2018-2022)
                                                          •   Direktur Keuangan & Investasi DPGA (2018)       •   DPGA Finance & Investment Director (2018)


      INDEPENDENSI DAN RANGKAP JABATAN                                             INDEPENDENCY AND CONCURRENT
      KAKCG                                                                        POSITION OF KAKCG

      Anggota KAKCG harus berasal dari pihak yang independen dan                   KAKCG members must be independent, with a member being
      salah seorang anggotanya memiliki keahlian dalam bidang                      an expert in accounting and/or finance. This requirement is
      akuntansi dan/atau keuangan. Persyaratan ini penting untuk                   important to avoid conflicts of interest in the decision-making
      menghindari adanya benturan kepentingan dalam proses                         process.
      pengambilan keputusan.


                                                               Independensi Anggota KAKCG
                                                               Indepedency of KACG Members
                                           Kriteria Independensi                                                                               Edward Okky
                                                                                                   Ali Gunawan           Dodi Yasendri
                                          Independence Criteria                                                                                  Avianto

        Bukan Anggota Manajemen                                                                           V                     V                    V
        Not a Management Member

        Bebas dari hubungan usaha dan hubungan lainnya yang dapat mempengaruhi keputusan                  V                     V                    V
        Free from business relationships and others that can influence decisions

        Bukan pemegang saham mayoritas perusahaan atau pegawai yang berhubungan langsung                  V                     V                    V
        dengan pemegang saham mayoritas Perseroan
        Not the majority shareholder of the company or employees who deal directly with the
        majority shareholder of the Company




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                                                        Independensi Anggota KAKCG
                                                        Indepedency of KACG Members
                                    Kriteria Independensi                                                                           Edward Okky
                                                                                             Ali Gunawan       Dodi Yasendri
                                   Independence Criteria                                                                              Avianto

 Bukan pegawai atau pernah bekerja sebagai eksekutif pada Perseroan atau anggota                    V                 V                    X
 perusahaan afiliasi, setidaknya 3 (tiga) tahun sebelum menjadi anggota Komite
 Not an employee or has worked as an executive in a company or a member of an affiliated
 company, at least 3 (three) years before becoming a member of the Committee

 Bukan penasihat atau konsultan utama profesional yang material bagi Perseroan atau                 V                 V                    V
 perusahaan afiliasi, atau pegawai yang berhubungan langsung dengan penyedia jasa,
 setidaknya 3 (tiga) tahun sebelum menjadi anggota Komite
 Not a professional advisor or principal consultant for the Company or affiliated company,
 or employees who deal directly with the service provider, at least 3 (three) years before
 becoming a member of the Committee

 Bukan pemasok atau pelanggan utama dari Perseroan atau afiliasi atau pegawai dari/atau             V                 V                    V
 yang berhubungan langsung atau tidak langsung dengan pemasok atau pelanggan utama
 Not a supplier or main customer of the Company or its affiliation or employee of/or who
 has direct or indirect contact with the main supplier or customer

 Tidak memiliki hubungan perjanjian dengan Perseroan atau perusahaan afiliasi lainnya               V                 V                    V
 sebagai Direksi
 Has no agreement relationship with the Company or other affiliated companies as Directors

 Keterangan | Notes:
 v = terpenuhi | fulfilled
 x = tidak terpenuhi | not fulfilled


                                                     Rangkap Jabatan Anggota KAKCG
                                                    Concurrent Position of KAKCG Members
       Nama                        Jabatan                  Rangkap Jabatan di GMF              Rangkap Jabatan di Perusahaan/Instansi Lain
       Name                        Position                 Concurrent Position at GMF             Concurrent Position at Other Companies

 Ali Gunawan           Ketua merangkap Anggota         Komisaris Independen GMF                 Group Financial Controller pada PT CT Corpora
                       Head & Member                   Ketua Merangkap Anggota KNR              Group Financial Controller at PT CT Corpora
                                                       Independent Commissoner
                                                       Head & member of KNR

 Dodi Yasendri         Anggota                         Anggota KAKCG                            -
                       Member                          KAKCG member

 Edward Okky           Anggota                         Anggota KAKCG                            -
 Avianto               Member                          KAKCG member


PEDOMAN KERJA: PIAGAM KAKCG                                                  WORK GUIDELINES: KAKCG CHARTER
Dalam menjalankan tugasnya, KAKCG telah dilengkapi dengan                    KAKCG works according to the working guidelines in the KAKCG
perdoman kerja yang ditetapkan berdasarkan Piagam KAKCG                      Charter, which was validated on August 18, 2017. The Company
tanggal 18 Agustus 2017. Pedoman ini senantiasa ditinjau dan                 regularly reviews and updates the guideline when needed. The
dimutakhirkan secara berkala sesuai dengan ketentuan dan                     latest version of the Charter used is dated August 2, 2023, based
kebutuhan Perseroan. Versi terakhir dari Piagam yang digunakan               on the Decree of DEKOM-GMF/SKEP/5004/23 regarding the
adalah per tanggal 2 Agustus 2023 berdasarkan Surat Keputusan                Determination of the 2023 Board of Commissioners Committee
DEKOM-GMF/SKEP/5004/23 perihal Penetapan Piagam Komite                       Charter.
Dewan Komisaris Tahun 2023.

Piagam KAKCG berisi tentang Latar Belakang; Visi dan Misi;                   The KAKCG Charter contains the following sections: Background;
Maksud dan Tujuan, Keanggotaan, Kedudukan, Tugas, Tanggung                   Vision and mission; Aims and Objectives; Membership, Position,
Jawab, dan Wewenang; Prosedur Kerja, Rapat, Pelaporan dan                    Duties, Responsibilities, and Authority; Work Procedures,
Penanganan Pengaduan; Program Pengembangan; Kerahasiaan;                     Meetings, Reporting, and Complaint Handling; Development
Penutup.                                                                     Program; Confidentiality; Closing.




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      TUGAS DAN TANGGUNG JAWAB                                                       DUTIES AND RESPONSIBILITIES

      Tugas dan tanggung jawab KAKCG sesuai Piagam KAKCG yaitu:                      Duties and Responsibilities of KAKCG according to KAKCG Charter
                                                                                     are as follows:
      1. Melakukan telaah atas efektivitas sistem pengendalian                       1. Reviewing the effectiveness of the internal control system
         intern dan efektivitas pelaksanaan tugas eksternal auditor                     and the effectiveness of the performance of external auditors
         dan internal auditor;                                                          and internal auditors;
      2. Melakukan telaah dan memantau proses audit dan proses                       2. Reviewing and monitoring the audit process and the
         pelaporan keuangan Perseroan;                                                  Company’s financial reporting process;
      3. Memberikan rekomendasi kepada Dewan Komisaris                               3. Provide recommendations to the Board of Commissioners
         mengenai penunjukan auditor eksternal,                                         regarding the appointment of an external auditor;
      4. Melakukan penelaahan atas informasi keuangan yang akan                      4. Reviewing financial information that will be issued, including
         dikeluarkan antara lain laporan keuangan, proyeksi dan                         financial statements, projections and other financial
         informasi keuangan lainnya;                                                    information;
      5. Memantau kepatuhan perusahaan pada peraturan dan                            5. Monitor company compliance with rules and regulations
         regulasi terkait dengan usaha Perseroan,                                       related to the Company’s business;
      6. Menelaah dan memberikan rekomendasi kepada Dewan                            6. Reviewing and providing recommendations to the Board
         Komisaris terkait dengan adanya potensi benturan                               of Commissioners related to potential conflicts of interest;
         kepentingan;
      7. Menyusun dan memutakhirkan Piagam KAKCG sesuai dengan                       7. Develop and update the Audit Committee Charter and
         perkembangan bisnis dan kebutuhan Perseroan;                                   Corporate Governance Policies in accordance with business
                                                                                        development and the needs of the Company;
      8. Mengadakan rapat secara berkala dengan auditor internal                     8. Holding regular meetings with internal and external auditors
         dan eksternal untuk membahas hasil evaluasi dan hasil audit                    to discuss the evaluation results and audit results on internal
         atas pengendalian internal serta kualitas laporan keuangan,                    control and the quality of financial statements;
      9. Melaksanakan tugas-tugas lain yang diberikan oleh Dewan                     9. Carry out other tasks assigned by the Board of Commissioners,
         Komisaris, khususnya dalam bidang yang terkait dengan                          particularly in the fields related to accounting and finance,
         akuntansi dan keuangan, penerapan tata kelola, serta                           governance implementation, and other obligations in
         kewajiban lain sesuai regulasi terkait.                                        accordance with relevant regulations.

      RAPAT KAKCG                                                                    KAKCG MEETING

      Kebijakan rapat KAKCG mengacu pada Piagam KACKG yang                           According to KAKCG Charter, the committee shall conduct a
      mengatur rapat dilakukan sekali setiap triwulan. Keputusan                     meeting once every quarter. The meeting’s decision is made
      rapat diambil berdasarkan musyawarah mufakat. Jalannya                         based on consensus. The meeting, including the decision and
      rapat, perbedaan pendapat (dissenting opinion) dan                             dissenting opinion, must be recorded and documented in a
      keputusan yang diambil dalam rapat Komite wajib dicatat dan                    minute. The minute is signed by the Chairman and Members,
      didokumentasikan dengan baik dalam risalah rapat. Risalah                      the Secretary to the Board of Commissioners and participants.
      rapat tersebut ditandatangani oleh Ketua dan Anggota                           In 2023, KAKCG has held 7 (seven) meetings. The information
      Komite serta didistribusikan kepada Ketua Komite, Sekretaris                   on the minutes and attendance can be found as follows.
      Dewan Komisaris dan peserta rapat. Pada tahun 2023, KAKCG
      melakukan rapat sebanyak 7 (tujuh) kali rapat. Berikut informasi
      mengenai risalah dan


                                                          Rekapitulasi Kehadiran KAKCG pada Rapat
                                                      Recapitulation of the Presence of KAKCG at the Meeting
                   Anggota KAKCG                         Jumlah Wajib Rapat                 Jumlah Kehadiran                        Kehadiran
                   KAKCG Members                      Number of Mandatory Meeting           Number of Presence                       Presence

        Ali Gunawan                                                             12                                 12                                100%
        Ketua
        Chair

        Dodi Yasendri                                                           12                                 12                                100%
        Anggota
        Member

        Tri Harsono S                                                            5                                  5                                100%
        Anggota
        Member




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                                                    Rekapitulasi Kehadiran KAKCG pada Rapat
                                                Recapitulation of the Presence of KAKCG at the Meeting
             Anggota KAKCG                         Jumlah Wajib Rapat                 Jumlah Kehadiran                       Kehadiran
             KAKCG Members                      Number of Mandatory Meeting           Number of Presence                      Presence

 E. Okky Avianto                                                            7                                7                                100%
 Anggota
 Member

 Rata-rata
                                                                                                                                             100%
 Average



                                                                Risalah Rapat KAKCG
                                                              Minutes of KAKCG Meeting
                    Tanggal                                                               Agenda Rapat
                      Date                                                                Meeting Agenda

 19 Januari 2023                                    Program Kerja Internal Audit 2023
 January 19, 2023                                   2023 Internal Audit Work Programme

 30 Januari 2023                                    Penunjukan AP dan KAP
 January 30, 2023                                   Appointment of AP and KAP

 9 Maret 2023                                       Usulan Perubahan Nama Unit Aircraft Support & Power Services
 March 9, 2023                                      Proposed Name Change of Aircraft Support & Power Services Unit

 17 Mei 2023                                        Update Internal Audit
 May 17, 2023                                       Internal Audit Update

 25 Mei 2023                                        Rencana Kerja Sama BOT antara GMF dengan Kokarga
 May 25, 2023                                       BOT Cooperation Plan between GMF and Kokarga

 21 Juli 2023                                       Briefing Ketua KAKCG dan Pembahasan Kerja Sama Konsorsium
 July 21, 2023                                      KAKCG Chair Briefing and Consortium Co-operation Discussion

 3 Agustus 2023                                     Revisi RJPP 2020-2024 GMF
 August 3, 2023                                     GMF's 2020-2024 RJPP Revision

 24 Agustus 2023                                    Update Internal Audit
 August 24, 2023                                    Internal Audit Update

 7 September 2023                                   Kebijakan Pengadaan
 September 7, 2023                                  Procurement Policy

 24 Oktober 2023                                    Restrukturisasi Utang GMF dan Pemberian Jaminan Kepada BRI
 October 24, 2023                                   GMF Debt Restructuring and Guarantee to BRI

 15 Desember 2023                                   RKAP 2024
 December 15, 2023                                  2024 RKAP


KEBIJAKAN REMUNERASI                                                            REMUNERATION POLICY

Remunerasi anggota KAKCG ditetapkan oleh Dewan Komisaris.                       The remuneration of KAKCG members was determined by the
Ketentuan pemberian honorarium untuk Anggota Komite Dewan                       Board of Commissioners. The honorarium for members of the
Komisaris diatur berdasarkan ketentuan berikut:                                 Board of Commissioners’ Committee are regulated based on
                                                                                the following:
1. Besarnya Honorarium bagi Anggota Komite Dewan Komisaris                      1. The Honorarium for Independent Members of the Board
   Independen dan/atau yang tidak berstatus sebagai Pegawai                        of Commissioners’ Committee and/or those who are not
   Perseroan atau Pegawai PT Garuda Indonesia (Persero) Tbk                        employees of the Company or Employees of PT Garuda
   (“Garuda Indonesia”).                                                           Indonesia (Persero) Tbk (“Garuda Indonesia”).
2. Besarnya Honorarium bagi Anggota Komite Dewan Komisaris                      2. The Honorarium for Members of the Board of Commissioners’
   yang berstatus masih sebagai pegawai Perseroan atau                             Committee who are employees of the Company or Garuda
   Pegawai Garuda Indonesia.                                                       Indonesia.
3. Honorarium tidak diberikan kepada Ketua/Anggota Komite                       3. The Honorarium is not given to the Chairman/Committee
   Dewan Komisaris yang berstatus sebagai Anggota Direksi                          Member of the Board of Commissioners who is also a
   di Garuda Indonesia dan/atau merangkap sebagai Dewan                            Member of the Board of Directors at Garuda Indonesia and/
   Komisaris Perseroan.                                                            or the Company’s Board of Commissioners.



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      4. Pajak atas Honorarium Anggota Komite Dewan Komisaris                       4. Taxes on the Honorarium of Members of the Board of
         dan/atau penghasilan lainnya ditanggung oleh Perseroan.                       Commissioners’ Committee and/or other income shall be
                                                                                       borne by the Company.
      5. Biaya yang timbul atas pemberian honorarium ini menjadi                    5. The Company is responsible for the costs incurred from
         beban Perseroan.                                                              this honorarium.

      PENGEMBANGAN KOMPETENSI KAKCG                                                 COMPETENCY DEVELOPMENT FOR KAKCG

      Informasi mengenai daftar kegiatan pelatihan dan peningkatan                  Information on the list of training and competency development
      kompetensi yang diikuti KAKCG sepanjang tahun 2023 dapat                      programs of KAKCG in 2023 is available in the chapter of Business
      dilihat pada bab Fungsi Penunjang Bisnis dalam Laporan                        Support Function of this Integrated Report.
      Terintegrasi ini.

      PENCAPAIAN KAKCG                                                              ACHIEVEMENT OF KAKCG

      Pencapaian Rencana Kerja KAKCG tahun 2023 disampaikan                         The achievement of KACKG 2023 Work Plan is as follows:
      sebagai berikut:


                                                      Rencana Kerja KAKCG 2023                                                      Realisasi
         No.
                                                        KAKCG 2023 Work Plan                                                       Realization

                 Komite Audit dan Kebijakan Corporate Governance
          A.
                 Audit and Corporate Governance Committee

          1.     Membuat Program Kerja Tahunan KAKCG                                                                                  100%
                 Making the Annual Work Program of KAKCG

          2.     Menyusun Piagam KAKCG serta memutakhirkannya dari waktu ke waktu sesuai dengan                                       100%
                 perkembangan bisnis dan kebutuhan Perseroan
                 Prepare the KAKCG Charter and update it from time to time in accordance with business
                 development and the Company needs

          3.     Membuat laporan berkala Triwulanan dan Tahunan kepada Dewan Komisaris, yangminimal memuat                            100%
                 perbandingan realisasi kegiatan dengan program kerja tahunan serta substansi hasil kegiatan dan
                 rekomendasinya yang diungkapkan dalam Laporan Tahunan Perseroan
                 Make quarterly and annual reports to the Board of Commissioners, which at least contains a
                 comparison of the realization of activities with the annual work program as well as the substance
                 of the results of its activities and recommendations disclosed in the Company’s Annual Report

          4.     Membuat laporan khusus kepada Dewan Komisaris yang berisi laporan setiap temuan yang                                 100%
                 diperkirakan dapat mengganggu efektivitas Perseroan
                 Make a special report to the Board of Commissioners that contains reports of any findings that
                 are expected to interfere with the Company’s effectiveness

                 Audit
          B.
                 Audit

          1.     Melakukan penelaahan atas informasi keuangan yang akan dikeluarkan Perseroan kepada publik                           100%
                 dan/atau pihak otoritas antara lain laporan keuangan, proyeksi, dan laporan lainnya terkait dengan
                 informasi keuangan Perseroan
                 Reviewing the financial information to be released by the Company to the public and/or authorities,
                 including financial statements, projections and other reports related to the Company’s financial
                 information

          2.     Melakukan penelaahan atas ketaatan terhadap peraturan perundang-undangan yang berhubungan                            100%
                 dengan kegiatan Perusahaan, Anggaran Dasar, dan perjanjian dengan pihak ketiga
                 Reviewing compliance with laws and regulations relating to Company activities, Articles of
                 Association, and agreements with third parties

          3.     Memberikan pendapat independen dalam hal terjadi perbedaan pendapat antara manajemen                                  N/A
                 dan akuntan atas jasa yang diberikannya
                 Reviewing compliance with laws and regulations relating to Company activities, Articles of
                 Association, and agreements with third parties

          4.     Memberikan rekomendasi kepada Dewan Komisaris mengenai penunjukan Akuntan                                            100%
                 yangdidasarkanpada independensi, ruang lingkup penugasan, dan imbalan jasa
                 Provide recommendations to the Board of Commissioners regarding the appointment of an
                 accountant based on independence, the scope of the assignment, and compensation for services




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                                                Rencana Kerja KAKCG 2023                                                        Realisasi
  No.
                                                  KAKCG 2023 Work Plan                                                         Realization

   5.      Melakukan pemeriksaan oleh auditor internal dan auditor eksternal serta mengawasi pelaksanaan                          100%
           tindak lanjut oleh penelaahan atas pelaksanaan Direksi atas temuan auditor internal dan auditor
           eksternal
           Conduct audits by internal auditors and external auditors and oversee the implementation of
           follow-up by a review of the implementation of the Board of Directors on the findings of internal
           auditors and external auditors

   6.      Melakukan penelaahan atas efektivitas sistem pengendalian intern dan efektivitas pelaksanaan                           100%
           tugas auditor internal dan auditor eksternal.
           Reviewing the effectiveness of the internal control system and the effectiveness of the
           implementation of internal auditor and external auditor tasks

    7.     Menelaah pengaduan yang berkaitan dengan proses akuntansi dan pelaporan keuangan Perseroan                             N/A
           Examining complaints relating to the Company’s accounting and financial reporting processes

   8.      Menelaah dan memberikan saran kepada Dewan Komisaris terkait dengan adanya potensi benturan                            N/A
           kepentingan Emiten atau Perusahaan Publik
           Analyzing and giving advice to the Board of Commissioners related to the potential conflict of
           interests of Issuers or Public Companies

           Tata Kelola Perusahaan yang Baik
   C.
           Good Corporate Governance

    1.     Meninjau dan melakukan telaah atas penerapan prinsip-prinsip dan persyaratan-persyaratan                               100%
           Tata Kelola yang berlaku di Perseroan serta memastikan bahwa prinsip-prinsip dan persyaratan-
           persyaratan tersebut masih relevan serta telah dilaksanakan sepenuhnya di Perseroan
           Review and evaluate the application of the principles and requirements of Governance that apply
           in the Company and ensure that the principles and requirements are still relevant and have been
           fully implemented in the Company

   2.      Memantau dan melakukan telaah atas penerapan prinsip-prinsip tata kelola perusahaan yang                               100%
           baik dalam pengelolaan dan pengurusan Perseroan, memastikan dilakukannya penilaian/
           assessment dan evaluasi/self-assessment atas implementasi tata kelola perusahaan yang baik dan
           memastikannyatindak lanjut atas rekomendasi perbaikan hasil assessment atau self- assessment
           tahun sebelumnya
           Monitor and review the application of the principles of good corporate governance in the
           management and management of the Company, ensure the assessment/evaluation and self-
           assessment of the implementation of good corporate governance and ensure follow-up on
           recommendations for improving the results of the assessment or self- assessment of the previous
           year

           Lainnya
   D.
           Others

    1.     Melaksanakan tugas lain yang diberikan oleh Dewan Komisaris sepanjang masih dalam lingkup                              100%
           tugas dan kewajiban Dewan Komisaris berdasarkan Anggaran Dasar dan Keputusan Rapat Umum
           Pemegang Saham (RUPS) serta ketentuan perundang-undangan yang berlaku
           Carry out other tasks given by the Board of Commissioners as long as they are within the scope
           of the duties and obligations of the Board of Commissioners based on the Articles of Association
           and the Resolution of the General Meeting of Shareholders (GMS) as well as the provisions of
           the applicable legislation

   2.      Melakukan Self-Assesment terhadap kinerja masing-masing anggota KAKCG                                                  100%
           Conduct Self-Assessment on the performance of each KAKCG member



LAPORAN PELAKSANAAN TUGAS TAHUN                                              REPORT OF 2023 DUTIES
2023

Selama tahun 2023, KAKCG telah melaksanakan berbagai                         In 2023, KAKCG had done various works according to its duties
kegiatan dalam rangka melaksanakan tugas dan tanggung                        and responsibilities, which among others as follows:
jawab, di antaranya meliputi:
1. Melakukan telaah dan memberikan rekomendasi dalam                         1. Reviewed and recommended the Public Accounting Firm and
   penunjukan Kantor Akuntan Publik dan Akuntan Publik untuk                    Public Accountant to audit the Annual Financial Statement
   melakukan audit atas Laporan Keuangan Tahunan Tahun                          for the 2022 Financial Year;
   Buku 2022;
2. Melakukan telaah atas laporan tahunan Tahun Buku 2022;                    2. Reviewed the annual report for the 2022 Financial Year;
3. Melakukan telaah atas Laporan Keuangan Teraudit Tahun                     3. Reviewed the Audited Financial Statement for the 2022
   Buku 2022;                                                                   Financial Year;



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      4. Melakukan telaah terhadap perubahan organisasi GMF;           4. Reviewed GMF organizational changes;
      5. Melakukan telaah atas Laporan Triwulan Perusahaan;            5. Reviewed the Company’s Quarterly Reports;
      6. Melakukan telaah dan rekomendasi atas rencana kerja sama      6. Reviewed and recommended the consortium cooperation
          konsorsium;                                                      plan;
      7. Melakukan telaah dan rekomendasi atas buku rancangan          7. Reviewed and recommended the revision of the Company’s
          revisi rencana jangka panjang Perseroan;                         long-term plan;
      8. Melakukan telaah atas pelaksanaan assessment good             8. Revieed the implementation of the good corporate
          corporate governance;                                            governance assessment;
      9. Melakukan telaah atas Rancangan Rancangan Rencana Kerja       9. Reviewed the Draft of the Company Work Plan and Budget
          dan Anggaran Perusahaan Tahun 2024;                              for 2024;
      10. Melakukan telaah dan rekomendasi ata penunjukan Kantor       10. Reviewed and recommended or appointed a Public
          Akuntan Publik untuk mengaudit Laporan Keuangan                  Accounting Firm to audit the Company’s Financial Report
          Perseroan Tahun Buku 2023;                                       for the 2023 Financial Year;
      11. Melakukan telaah atas restrukturisasi utang dengan Bank.     11. Reviewed debt restructuring with the Bank.

      HASIL EVALUASI YANG DILAKUKAN KAKCG                              EVALUATION RESULTS BY KAKCG

      KAKCG telah melakukan evaluasi terhadap beberapa aktivitas       KACKG has evaluated the audit activities throughout 2023.
      audit yang telah dilaksanakan Perseroan sepanjang tahun 2023.    The evaluation covers the internal and external audit activities.
      Evaluasi tersebut mencakup aktivitas audit eksternal dan audit   KACKG has also evaluated the implementation of GCG at GMF
      internal. KACKG juga telah mengevaluasi terhadap penerapan       throughout 2023.
      GCG di GMF sepanjang tahun 2023.

      EVALUASI ATAS KINERJA AUDITOR EKSTERNAL                          EXTERNAL AUDITOR’S PERFORMANCE
                                                                       EVALUATION
      KAKCG telah mengevaluasi kinerja auditor eksternal Kantor        KAKCG has evaluated the external auditor’s performance by
      Akuntan Publik melalui Laporan Hasil Evaluasi Terhadap           the Public Accounting Firm through the Evaluation Report on
      Pelaksanaan Pemberian Jasa Audit Atas Informasi Keuangan         the Audit Services on Annual Historical Financial Information
      Historis Tahunan Tahun Buku 2022. Berdasarkan hasil evaluasi,    for the 2022 Financial Year. Based on the evaluation, KAKCG
      dapat disampaikan hal-hal sebagai berikut:                       can inform the following:
      • Pelaksanaan audit telah sesuai dengan Standar Profesional      • The audit was carried out in accordance with the Indonesian
         Akuntan Publik Indonesia dengan menguji kewajaran Laporan         Public Accountant Professional Standards by testing the
         Keuangan Konsolidasian Perseroan untuk tahun buku yang            fairness of Consolidated Financial Statement of the Company
         berakhir pada tanggal 31 Desember 2023.                           for the financial year ended on December 31, 2023.
      • Rentang waktu memadai untuk menyelesaikan pemberian jasa       • There was enough time span to complete the audit on the
         audit atas laporan keuangan Perseroan sesuai ruang lingkup        Company’s financial statements according to the agreed
         audit yang telah disepakati dengan Manajemen Perseroan.           audit scope with the Company’s Management.
      • KAKCG berpendapat bahwa cakupan jasa yang diberikan            • KAKCG considers that the general audit on the Company’s
         berupa audit umum (general audit) atas Laporan Keuangan           Consolidated Financial Statements for the financial year
         Konsolidasian Perseroan untuk tahun buku yang berakhir            ended on December 31, 2023, and the Attestation on Activity
         pada tanggal 31 Desember 2023, dan Atestasi terhadap              Regarding Application of Precautionary Principle (KPPK) has
         Laporan Kegiatan Penerapan Prinsip-Prinsip Kehati-hatian          been adequate. In addition, KAKCG also considers that the
         (KPPK) Perseroan telah memadai. Selain itu, KAKCG juga            audit sampling has been adequate.
         menilai uji petik telah dilakukan dengan memadai.

      Akuntan Publik dan Kantor Akuntan Publik telah memberikan        The Public Accounting Firm and Public Accountant have given
      rekomendasi perbaikan dalam peningkatan kualitas penyajian       the recommendation for improvement on the quality of the
      Laporan Keuangan dan efektivitas pengendalian internal           Company’s Financial Statements presentation and of internal
      Perseroan.                                                       control effectiveness.

      KAKCG berpandangan bahwa Akuntan Publik dan Kantor               KAKCG considers that the Public Accounting Firm and Public
      Akuntan Publik yang bersangkutan cukup profesional dalam         Accountant have been professional in performing audit,
      melaksanakan auditnya, secara independen dan objektif            independently and objectively carried out their duties and being
      melaksanakan perkerjaannya serta terbuka dalam mendiskusikan     transparent in discussing audit issues.
      permasalahan yang terkait dengan pelaksanaan audit.




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EVALUASI ATAS PELAKSANAAN AUDIT INTERNAL                           INTERNAL AUDITOR’S ACTIVITY EVALUATION
Penilaian atas efektivitas pelaksanaan audit internal telah        KAKCG has evaluated the internal audit activities through the
dilakukan KAKCG melalui penelaahan Laporan Hasil Audit yang        Audit Report in the Minutes of KAKCG’s Meetings. The Internal
tertera pada Risalah Rapat KAKCG. Audit internal telah dilakukan   Audit had been done according to the annual audit plan.
sesuai dengan rencana audit tahunan.

KAKCG juga telah melakukan telaah atas temuan Auditor              KAKCG has also assessed the findings of the Internal Auditor
Internal terhadap Laporan Hasil Audit (LHA). KAKCG juga telah      against the Audit Report. KAKCG had followed up the findings
menindaklanjuti temuan auditor dan mengarahkan untuk               and encouraged to perform a more efficient audit based on the
melaksanakan setiap kegiatan audit secara lebih efisien dan        latest accounting principles.
sesuai dengan prinsip-prinsip akuntansi yang berlaku.

EVALUASI ATAS PENERAPAN GCG                                        EVALUATION OF GCG IMPLEMENTATION
KAKCG telah melakukan penilaian atas efektivitas penerapan GCG     KAKCG has assessed the effectiveness of GCG implementation
melalui Risalah Rapat Dewan Komisaris tanggal 15 Desember          and made a report which recorded on the Minutes of Board of
2023. Kesimpulannya adalah Tata Kelola Perusahaan saat ini         Commissioners’ Meeting on December 15, 2023. The Company’s
berjalan memadai namun masih perlu ditingkatkan.                   GCG practice has run properly at the moment but can still be
                                                                   improved.




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      KOMITE NOMINASI DAN REMUNERASI
      Nomination and Remuneration Committee




      Komite Nominasi dan Remunerasi (KNR) merupakan organ             The Nomination and Remuneration Committee (KNR) is the
      pendukung Dewan Komisaris yang bertanggung jawab                 Board of Commissioners’ supporting body responsible for
      memantau proses pencalonan kandidat anggota Dewan                monitoring the appointment process of the candidates for the
      Komisaris, Direksi, dan pejabat Perseroan di bawah Direksi.      Board of Commissioners, Board of Directors, and executive
      KNR juga bertanggung jawab mengevaluasi kinerja Dewan            officers under the Board of Directors. KNR also responsible for
      Komisaris dan Direksi sebagai pertimbangan bagi RUPS saat        evaluating the performance of the Board of Commissioners and
      menentukan remunerasi Dewan Komisaris dan Direksi.               Board of Directors as a consideration for the GMS to determine
                                                                       the remuneration for the Board.

      KUALIFIKASI ANGGOTA                                              QUALIFICATIONS

      Dewan Komisaris memiliki wewenang penuh untuk mengangkat         The Board of Commissioners has full authority to appoint and
      dan memberhentikan anggota KNR, yang berada di bawah garis       dismiss members of KNR. The appointment and dismissal of KNR
      koordinasi Dewan Komisaris. Pengangkatan dan pemberhentian       members are based on the Board of Commissioners’ Decree.
      anggota KNR dilakukan berdasarkan Surat Keputusan yang
      dikeluarkan oleh Dewan Komisaris GMF.

      MASA JABATAN                                                     TERM OF OFFICE

      KNR memiliki masa jabatan 3 (tiga) tahun terhitung sejak Surat   The working period of KNR is 3 (three) years starting from the
      Keputusan yang mengangkatnya dan dapat diperpanjang satu         Decree, which appointed the members and can be extended
      kali selama 2 (dua) tahun masa jabatan. Dewan Komisaris          once for another 2 (two) years. The Board of Commissioners
      memiliki hak untuk memberhentikan anggota komite sewaktu-        is entitled at any time to dismiss a member of the committee
      waktu sesuai dengan ketentuan yang berlaku.                      according to applicable regulations.




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KOMPOSISI ANGGOTA KNR TAHUN 2023                                  COMPOSITION OF KNR MEMBERS IN 2023

Komposisi Komite Nominasi dan Remunerasi per 31 Desember          As of December 31, 2023, the Nomination and Remuneration
2023 beranggotakan tiga orang yang semuanya merupakan             Committee’s members consists of three members, all of
Dewan Komisaris Perseroan. Ketua Komite dijabat oleh Bapak        whom are Commissioners of the Company. The Chairman of
Dharmadi dan Komisaris lainnya menjabat sebagai anggota. Profil   the Committee is Mr. Dharmadi and the other Commissioners
Ketua dan Anggota KNR, dapat dilihat di profil Dewan Komisaris    serve as members. The profile of the Chairman and Members
pada bab Profil Perusahaan dalam Laporan Terintegrasi ini.        of the Nomination and Remuneration Committee can be found
                                                                  in the profile of the Board of Commissioners in the Company
                                                                  Profile chapter of this Integrated Report.

INDEPENDENSI DAN RANGKAP JABATAN KNR                              INDEPENDENCE AND CONCURRENT
                                                                  POSITION OF KNR

Mengingat bahwa anggota KNR merupakan anggota                     Considering that the members of KNR are the Commissioners,
Dewan Komisaris, maka pengungkapan informasi mengenai             the disclosure of information concerning their independence
independensi dan rangkap jabatan anggota KNR dapat dilihat        and concurrent position is available in the earlier discussion
pada pembahasan mengenai Dewan Komisaris sebelumnya.              regarding the Board of Commissioners.

PEDOMAN KERJA KNR                                                 WORK GUIDELINES FOR KNR

KNR telah memiliki Piagam Komite Nominasi dan Remunerasi          The KNR has a Nomination and Remuneration Committee
yang telah ditetapkan tanggal 26 Juni 2020. Piagam KNR            Charter, which was validated on June 26, 2020. The KNR Charter
mengacu pada ketentuan yang berlaku dan best practices            refers to applicable regulations and best practices to assist the
untuk membantu Dewan Komisaris dalam meningkatkan sistem          Board of Commissioners in improving the supervisory system
pengawasan secara lebih efektif. Piagam KNR senantiasa ditinjau   to be more effective. The KNR Charter is regularly reviewed. The
ulang secara berkala. Versi terakhir dari Piagam yang digunakan   latest version of the Charter used is dated August 2, 2023, based
adalah per tanggal 2 Agustus 2023 berdasarkan Surat Keputusan     on the Decree of DEKOM-GMF/SKEP/5004/23 regarding the
DEKOM-GMF/SKEP/5004/23 perihal Penetapan Piagam Komite            Determination of the 2023 Board of Commissioners Committee
Dewan Komisaris Tahun 2023.                                       Charter.

Piagam KNR berisi tentang Latar Belakang; Visi dan Misi;          The KNR Charter contains the following sections: Background;
Maksud dan Tujuan, Keanggotaan, Kedudukan, Tugas, Tanggung        Vision and mission; Aims and Objectives; Membership, Position,
Jawab, dan Wewenang; Prosedur Kerja, Rapat, Pelaporan dan         Duties, Responsibilities, and Authority; Work Procedures,
Penanganan Pengaduan; Program Pengembangan; Kerahasiaan;          Meetings, Reporting, and Complaint Handling; Development
Penutup.                                                          Program; Confidentiality; Closing.

TUGAS DAN TANGGUNG JAWAB KNR                                      DUTIES AND RESPONSIBILITIES OF KNR

Tugas KNR sesuai dengan Piagam KNR, yaitu:                        The duties of KNR according to the charter are:
1. Fungsi Nominasi                                                1. Nomination Function
   a. Memberikan rekomendasi kepada Dewan Komisaris                  a. Provide recommendations to the Board of Commissioners
       mengenai komposisi jabatan anggota Direksi dan/                   regarding the composition of the position of members of
       atau anggota Dewan Komisaris, kebajikan dan kriteria              the Board of Directors and / or members of the Board of
       yang dibutuhkan dalam proses Nominasi dan Kebijakan               Commissioners, the virtues and criteria required in the
       Evaluasi kinerja bagi anggota Direksi dan/atau anggota            Nomination process and the Performance Evaluation
       Dewan Komisaris;                                                  Policy for members of the Board of Directors and / or
                                                                         members of the Board of Commissioners;
    b.   Membantu Dewan Komisaris melakukan penilaian                b. Assist the Board of Commissioners in assessing the
         kinerja anggota Direksi dan/atau anggota Dewan                  performance of members of the Board of Directors and/
         Komisaris berdasarkan tolak ukur yang telah disusun             or members of the Board of Commissioners based on
         sebagai bahan evaluasi;                                         the benchmarks that have been prepared as evaluation
                                                                         material;


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           c. Memberikan rekomendasi kepada Dewan Komisaris                   c. Provide recommendations to the Board of Commissioners
              mengenai program pengembangan kemampuan anggota                    regarding the capacity building programme for members
              Direksi dan/atau anggota Dewan Komisaris;                          of the Board of Directors and/or members of the Board
                                                                                 of Commissioners;
          d.    Memberikan usulan calon yang memenuhi syarat                  d. Provide proposals for candidates who qualify as members
                sebagai anggota Direksi dan/atau anggota Dewan                   of the Board of Directors and/or members of the Board
                Komisaris kepada Dewan Komisaris untuk disampaian                of Commissioners to the Board of Commissioners to be
                kepada RUPS;                                                     submitted to the GMS;
          e.    Melakukan tinjauan secara berkala atas system                 e. Conduct periodic reviews of the SOE Talent Management
                Manajemen Talenta BUMN serta pengawasan dan                      system as well as supervision and evaluation of its
                evaluasi atas pelaksanaanya;                                     implementation;
           f.   Melakukan evaluasi terhadap sistem dan prosedur               f. Evaluate the Talent classification system and procedure
                pengklasifikasian Talenta yang dilakukan oleh Direksi            conducted by the Board of Directors of the Company;
                Perseroan;
          g.    Melakukan validasi dan kalibrasi atas Talenta Terseleksi      g.   Validate and calibrate the Selected Talents, to produce a
                (selected talent), untuk menghasilkan daftar Talenta               list of Nominated Talents nominated by the Company’s
                Ternominasi (nominated talent) yang dinominasikan                  Board of Commissioners to the GMS;
                oleh Dewan Komisaris Perseroan kepada RUPS;
          h.    Melakukan evaluasi terhadap calon wakil Perseroan yang        h. Evaluate the candidates of the Company’s
                akan diusulkan sebagai anggota Direksi atau anggota               representatives who will be proposed as members of
                Dewan Komisaris Anak Perusahaan, sebelum diajukan                 the Board of Directors or members of the Board of
                kepada RUPS;                                                      Commissioners of Subsidiaries, before being submitted
                                                                                  to the GMS;
           i.   Melakukan evaluasi atas usulan KPI individu anggota            i. Evaluate the proposed individual KPIs of members of
                Direksi BUMN; dan                                                 the Board of Directors of SOEs; and
           j.   Menyiapkan usulan sistem evaluasi kinerja individu bagi        j. Prepare a proposal for an individual performance
                anggota Direksi dan/atau anggota Dewan Komisaris/                 evaluation system for members of the Board of Directors
                Dewan Pengawas BUMN.                                              and/or members of the Board of Commissioners/
                                                                                  Supervisory Board of SOEs.
      2. Fungsi Remunerasi                                                 2. Remuneration Function
         a. Memberikan rekomendasi kepada Dewan Komisaris                     a. Provide recommendations to the Board of Commissioners
            mengenai struktur Remunerasi, kebijakan atas                          regarding the Remuneration structure, policy on
            remunerasi dan besaran atas remunerasi;                               remuneration and the amount of remuneration;
         b. Membantu Dewan Komisaris melakukan penilaian                      b. Assist the Board of Commissioners in assessing
            kinerja dengan kesesuaian remunerasi yang diterima                    performance with the suitability of remuneration
            masing-masing anggota Direksi dan/atau anggota                        received by each member of the Board of Directors
            Dewan Komisaris;                                                      and/or members of the Board of Commissioners;
            • Dalam melaksanakan fungsi Remunerasi KNR wajib                      • In carrying out the Remuneration function, the KNR
                melakukan prosedur sesuai Peraturan Otoritas Jasa                    must carry out procedures in accordance with the
                Keuangan Nomor: 34/POJK.04/2014 tentang KNR                          Financial Services Authority Regulation Number: 34/
                emiten atau Perusahaan Publik;                                       POJK.04/2014 concerning KNR of issuers or Public
                                                                                     Companies;
            • Struktur, kebijakan dan besaran remunerasi harus                    • The structure, policy and amount of remuneration
               dievaluasi oleh KNR paling kurang (satu) kali dalam                   must be evaluated by KNR at least (one) time in 1
               1 (satu) tahun.                                                       (one) year.
      3. Sumber Daya Manusia                                               3. Human Resources
         a. Menyiapkan usulan program pengembangan bagi                       a. Prepare proposals for development programmes for
            anggota Direksi dan/atau anggota Dewan Komisaris /                    members of the Board of Directors and/or members of
            Dewan Pengawas BUMN;                                                  the Board of Commissioners/Supervisory Board of SOEs;
         b. Melakukan evaluasi atas usulan Direksi BUMN mengenai              b. Evaluate the proposal of the Board of Directors of SOEs
            struktur organisasi BUMN;                                             regarding the organisational structure of SOEs;
         c. Memastikan bahwa perusahaan telah memiliki kebijakan              c. Ensure that the company has a transparent human
            pengelolaan dan pengembangan sumber daya manusia                      resource management and development policy;
            yang transparan;
         d. Melakukan penelaahan dan pemantauan praktek                       d. Reviewing and monitoring human resource development
            manajemen pengembangan sumber daya manusia                           management practices based on corporate governance
            berdasarkan pedoman kebijakan tata kelola perusahaan,                policy guidelines, particularly management policies and
            khususnya kebijakan manajemen dan prosedur operasi                   standard operating procedures in the field of human
            standar dibidang pengembangan sumber daya manusia;                   resource development;


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   e. Menelaah dan memantau implementasi sistem                     e. Review and monitor the implementation of the human
      perencanaan sumber daya manusia, rekrutmen, seleksi                resource planning, recruitment, selection and placement
      dan penempatan karyawan;                                           system;
   f. Menelaan dan memantau hubungan kerja industrial                f. Maintaining and monitoring industrial labour relations
      yang ada dilingkungan Perusahaan; dan                              within the Company; and
   g. Memantau dan mengawasi pelaksanaan program                    g. Monitor and supervise the implementation of human
      pengemangan sumber daya manusia di Perusahaan,                     resource development programmes in the Company,
      termasuk manajemen talenta untuk memastikan                        including talent management to ensure the Company
      Perusahaan memiliki sumber daya manusia yang                       has competent human resources according to the
      kompeten sesuai kebutuhan Perusahaan.                              Company’s needs.
4. Menjaga kerahasiaan dokumen, data dan informasi perseoan.     4. Maintain the confidentiality of company documents, data
                                                                    and information.
5. Melakukan identifikasi hal-hal yang memerlukan perhatian      5. Identify matters that require the attention of the Board of
   Dewan Komisaris Perseroan serta tugas-tigas Dewan                Commissioners of the Company and other relevant duties
   Komisaris Perseroan bersangkutan lainnya.                        of the Board of Commissioners of the Company.
6. Melaksanakan tugas lain yang diberikan oleh Dewan             6. Carry out other duties assigned by the Board of
   Komisaris berdasarkan ketentuan peraturan perundang-             Commissioners based on the provisions of the prevailing
   undangan yang berlaku.                                           laws and regulations.

RAPAT KNR                                                        KNR MEETING

Mengingat bahwa setiap anggota KNR merupakan anggota             Since the members of KNR also Commissioners, the meeting
Dewan Komisaris, maka mekanisme rapat KNR diadakan sesuai        mechanism is held according to the internal meeting of the
dengan rapat internal Dewan Komisaris. Informasi mengenai        Board of Commissioners. Information regarding the KNR
rapat KNR menjadi satu bagian tak terpisah dari rapat internal   meeting is inseparable from the internal meeting of the Board
Dewan Komisaris yang dapat ditemukan di pembahasan               of Commissioners, which available in the previous discussion.
sebelumnya.

PENGEMBANGAN KOMPETENSI KNR                                      COMPETENCY DEVELOPMENT FOR KNR

Informasi mengenai daftar kegiatan pelatihan dan peningkatan     Information concerning the training and competency
kompetensi yang diikuti KNR di sepanjang tahun 2022 dapat        improvement programs of KNR throughout 2022 is available
dilihat pada bab Fungsi Penunjang Bisnis dalam Laporan           in the chapter of Business Support Function of this Integrated
Terintegrasi ini.                                                Report.

KEBIJAKAN REMUNERASI                                             REMUNERATION POLICY

Remunerasi anggota KNR ditetapkan oleh Dewan Komisaris.          The remuneration of KNR members was determined by the
Ketentuan pemberian honorarium untuk Anggota Komite Dewan        Board of Commissioners. The honorarium for members of the
Komisaris diatur berdasarkan ketentuan berikut:                  Board of Commissioners’ Committee are regulated based on
                                                                 the following:
1. Besarnya Honorarium bagi Anggota Komite Dewan Komisaris       1. The Honorarium for Independent Members of the Board
   Independen dan/atau yang tidak berstatus sebagai Pegawai         of Commissioners’ Committee and/or those who are not
   Perseroan atau Pegawai PT Garuda Indonesia (Persero) Tbk         employees of the Company or Employees of PT Garuda
   (“Garuda Indonesia”).                                            Indonesia (Persero) Tbk (“Garuda Indonesia”).
2. Besarnya Honorarium bagi Anggota Komite Dewan Komisaris       2. The Honorarium for Members of the Board of Commissioners’
   yang berstatus masih sebagai pegawai Perseroan atau              Committee who are employees of the Company or Garuda
   Pegawai Garuda Indonesia.                                        Indonesia.
3. Honorarium tidak diberikan kepada Ketua/Anggota Komite        3. The Honorarium is not given to the Chairman/Committee
   Dewan Komisaris yang berstatus sebagai Anggota Direksi           Member of the Board of Commissioners who is also a
   di Garuda Indonesia dan/atau merangkap sebagai Dewan             Member of the Board of Directors at Garuda Indonesia and/
   Komisaris Perseroan.                                             or the Company’s Board of Commissioners.
4. Pajak atas Honorarium Anggota Komite Dewan Komisaris          4. Taxes on the Honorarium of Members of the Board of
   dan/atau penghasilan lainnya ditanggung oleh Perseroan.          Commissioners’ Committee and/or other income shall be
                                                                    borne by the Company.
5. Biaya yang timbul atas pemberian honorarium ini menjadi       5. The Company is responsible for the costs incurred from
   beban Perseroan.                                                 this honorarium.




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      LAPORAN PELAKSANAAN TUGAS TAHUN                                REPORT OF 2023 DUTIES
      2023

      Selama tahun 2023, KNR telah melaksanakan berbagai kegiatan    Throughout 2023, KNR has carried out various activities to fulfill
      dalam rangka melaksanakan tugas dan tanggung jawab, di         its duties and responsibilities, including:
      antaranya meliputi:
      1. Melakukan telaah dan memberikan rekomendasi terkait         1. Reviewed and provided recommendations related to the
         pencapaian kinerja Direksi Tahun Buku 2022;                    performance of the Board of Directors for the 2022 Financial
                                                                        Year;
      2. Melakukan telaah dan memberikan rekomendasi terkait         2. Reviewed and provided recommendations on tantiem/
         tantiem/insentif kinerja dan Remunerasi Direksi dan Dewan      performance incentive and remuneration of the Board of
         Komisaris;                                                     Directors and Commissioners.;
      3. Melakukan telaah dan memberikan rekomendasi atas            3. Reviewed and provided recommendations for the change
         perubahan pengurus Anak Perusahaan;                            of management of Subsidiaries;
      4. Melakukan telaah atas Laporan Triwulan Perseroan.           4. Reviewed the Company’s Quarterly




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                  KOMITE PENGEMBANGAN USAHA DAN PEMANTAU
                                                   RISIKO
                                                           Business Development and Risk Monitoring Committee
Komite Pengembangan Usaha dan Pemantauan Risiko                        The Business Development and Risk Monitoring Committee
(KPUPR) merupakan organ pendukung Dewan Komisaris yang                 (KPUPR) is the supporting body of the Board of Commissioners
bertanggung jawab memantau pengembangan usaha yang                     responsible for monitoring business development, including new
mencakup investasi, proyek, atau produk baru sesuai dengan             investments, projects, or products according to the Company’s
strategi Perseroan. KPUPR juga melakukan kajian atas kebijakan,        strategy. The KPUPR also reviews policies, risk management
praktik pengelolaan risiko, dan tindakan mitigasi yang diambil         practices, and mitigation measures.
oleh Perseroan.

KUALIFIKASI ANGGOTA                                                    QUALIFICATIONS

Dewan Komisaris memiliki wewenang penuh untuk mengangkat               The Board of Commissioners has full authority to appoint and
dan memberhentikan anggota KPUPR, yang berada di bawah                 dismiss KPUPR members under the coordination line of the
garis koordinasi Dewan Komisaris. Pengangkatan dan                     Board of Commissioners. The appointment and dismissal of
pemberhentian anggota KPUPR dilakukan berdasarkan Surat                KPUPR members are carried out based on a Decree issued by
Keputusan yang dikeluarkan oleh Dewan Komisaris GMF.                   the GMF Board of Commissioners.

MASA JABATAN                                                           TERM OF OFFICE

KPUPR memiliki masa jabatan 3 (tiga) tahun terhitung sejak             KPUPR has an office period of 3 (three) years from the Decree
Surat Keputusan yang mengangkatnya dan dapat diperpanjang              which appointed him and can be extended once for 2 (two) years.
satu kali selama 2 (dua) tahun masa jabatan. Dewan Komisaris           The Board of Commissioners has the right to dismiss committee
memiliki hak untuk memberhentikan anggota komite sewaktu-              members at any time according to the applicable regulations.
waktu sesuai dengan ketentuan yang berlaku.

KOMPOSISI ANGGOTA KPUPR TAHUN 2023                                     COMPOSITION OF KPUPR MEMBERS IN 2023

KPUPR beranggotakan 3 (tiga) orang per 31 Desember 2023                As of December 31, 2023, KPUPR consists of 3 (three) people
yang terdiri dari Ketua Komite dan 2 (dua) orang Anggota Komite.       from the Head of the Committee and 2 (two) members of the
                                                                       Committee.


            Nama                                Jabatan                      Dasar Pengangkatan                         Masa Jabatan
            Name                                Position                     Basis of Appointment                       Term of Office

 Agit Atriantio                 Ketua/Komisaris Independen        SK DEKOM-GMF/SKEP/5002/23 tanggal 05 Juli        5 Juli 2023 s.d 5 Juli
                                Chair/Independent Commissioner    2023                                             2025
                                                                  Decree DEKOM-GMF/SKEP/5002/23 dated July         July 5, 2023 until July
                                                                  5, 2023                                          5, 2025

 Endang Tardiana                Anggota                           SK DEKOM-GMF/SKEP/5002/23 tanggal 05 Juli        5 Juli 2023 s.d 5 Juli
                                Member                            2023                                             2025
                                                                  Decree DEKOM-GMF/SKEP/5002/23 dated July         July 5, 2023 until July
                                                                  5, 2023                                          5, 2025

 Gary Louis Lumempouw           Anggota                           SK DEKOM-GMF/SKEP/5002/23 tanggal 05 Juli        5 Juli 2023 s.d 5 Juli
                                Member                            2023                                             2025
                                                                  Decree DEKOM-GMF/SKEP/5002/23 dated July         July 5, 2023 until July
                                                                  5, 2023                                          5, 2025


PROFIL ANGGOTA KPUPR                                                   PROFILE OF KPUPR MEMBERS

Profil Ketua KPUPR, Agit Atriantio, dapat dilihat bagian Profil        The profile of KPUPR Chair, Agit Atriantio, can be seen in the
Dewan Komisaris pada bab Profil Perusahaan dalam Laporan               Board of Commissioners profile section in the Company Profile
Terintegrasi ini.                                                      chapter of this Integrated Report.




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        Agit Atriantio
        Ketua KPUPR/Komisaris Independen
        Head of KPUPR/Independent Commissioner

        Profil Ketua Komite KPUPR Agit Atriantio dapat dilihat bagian Profil Dewan Komisaris pada bab Profil Perusahaan dalam Laporan
        Tahunan Terintegrasi ini.
        The profile of KPUPR Head, Agit Atriantio, can be seen in the Board of Commissioners profile section in the Company Profile chapter of this
        Integrated Report.



        Endang Tardiana
        Anggota KPUPR
        KPUPR Member

                                         Warga Negara Indonesia | Indonesian Citizens
               Data Pribadi
                                         Usia 45 tahun | 45 years old
               Personal Data
                                         Kelahiran Kuningan, 10 Oktober 1979 | Born in Kuningan, October 10, 1979

                                         •   Sarjana Teknik, Jurusan Mechanical Engineering dari Institut Teknologi Sepuluh Nopember (2007)
                                         •   Diploma Jurusan Mechanical Engineering dari Politeknik Institut Teknologi Bandung tahun (2003)
                Pendidikan
                                         •   Bachelor of Engineering, Department of Mechanical Engineering from the Sepuluh Nopember Institute of
                 Education
                                             Technology (2007)
                                         •   Diploma in Mechanical Engineering from the Polytechnic of Bandung Institute of Technology (2003)

                                         Aircraft Maintenance Planner PT Garuda Indonesia (Persero) Tbk (2010-2013), Senior Manager Engine & Component,
                                         Plan. & Control PT Garuda Indonesia (Persero) Tbk (2014-2021). Saat ini menjabat sebagai Vice President Aircraft
            Pengalaman Kerja             Maintenance Management PT Garuda Indonesia (Persero) Tbk.
             Work Experience             Aircraft Maintenance Planner PT Garuda Indonesia (Persero) Tbk (2010-2013), Senior Manager of the Engine &
                                         Component, Plan. & Control of PT Garuda Indonesia (Persero) Tbk (2014-2021). He is also serving as Vice President
                                         of Aircraft Maintenance Management of PT Garuda Indonesia (Persero) Tbk.




        Gary Louis Lumempouw
        Anggota KPUPR
        KPUPR Member

                                         Warga Negara Indonesia | Indonesian Citizens
               Data Pribadi
                                         Usia 67 tahun | 67 years old
               Personal Data
                                         Kelahiran Prabumulih, 17 Agustus 1957 | Born in Prabumulih, 17 August, 1957

                                         •   Sarjana Teknik Industri dari Institut Teknologi Bandung (1984)
                                         •   Magister Administrasi Bisnis – Sekolah Bisnis dan Manajemen dari Institut Teknologi Bandung (2006)
                Pendidikan
                                         •   Bachelor of Industrial Engineering from Bandung Institute of Technology (1984)
                 Education
                                         •   Master of Business Administration – School of Business and Management from Bandung Institute of Technology
                                             (2006)

                                         •   Direktur Utama PT Multi Kreasi Investama              •   President Director of PT Multi Kreasi Investama
                                             (2013-sekarang)                                           (2013-present)
            Pengalaman Kerja
                                         •   Direktur Operasional PT Graha Cemerlang (2011-2013)   •   Operational Director of PT Graha Cemerlang (2011-2013)
             Work Experience
                                         •   Direktur Operasional PT Teknologi Riset Global        •   Operational Director of PT Teknologi Research Global
                                             Investama (2010-2011)                                     Investama (2010-2011)



      INDEPENDENSI DAN RANGKAP JABATAN                                              INDEPENDENCY AND CONCURRENT
      KPUPR                                                                         POSITION OF KPUPR

      Independensi anggota KPUPR penting untuk menghindari adanya                   KPUPR members need to be independent to avoid any conflict of
      benturan kepentingan dalam proses pengambilan keputusan                       interest in making a decision to achieve the Company’s objective
      dalam pencapaian tujuan GMF maupun tujuan grup bersama                        or a group purpose with the Parent Company.
      Induk Perseroan.




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                                                            Independensi Anggota KPUPR
                                                           Indepedency of KPUPR Members
                            Kriteria Independensi                                                               Endang Tardiana             Gary Louis
                                                                                        Agit Atriantio
                            Independence Criteria                                                                                          Lumempouw

 Bukan Anggota Manajemen                                                                      V                          V                       V
 Not a Management Member

 Bebas dari hubungan usaha dan hubungan lainnya yang dapat                                    V                          V                       V
 mempengaruhi keputusan
 Free from business relationships and others that can influence decisions

 Bukan pemegang saham mayoritas perusahaan atau pegawai yang                                  V                          x                       V
 berhubungan langsung dengan pemegang saham mayoritas Perseroan
 Not the majority shareholder of the company or employees who deal directly
 with the majority shareholder of the Company

 Bukan pegawai atau pernah bekerja sebagai eksekutif pada Perseroan atau                      V                          V                       V
 anggota perusahaan afiliasi, setidaknya 3 (tiga) tahun sebelum menjadi
 anggota Komite
 Not an employee or has worked as an executive in a company or a member
 of an affiliated company, at least 3 (three) years before becoming a member
 of the Committee

 Bukan penasihat atau konsultan utama profesional yang material bagi                          V                          V                       V
 Perseroan atau perusahaan afiliasi, atau pegawai yang berhubungan
 langsung dengan penyedia jasa, setidaknya 3 (tiga) tahun sebelum menjadi
 anggota Komite
 Not a professional advisor or principal consultant for the Company or affiliated
 company, or employees who deal directly with the service provider, at least
 3 (three) years before becoming a member of the Committee

 Bukan pemasok atau pelanggan utama dari Perseroan atau afiliasi atau                         V                          x                       V
 pegawai dari/atau yang berhubungan langsung atau tidak langsung dengan
 pemasok atau pelanggan utama
 Not a supplier or main customer of the Company or its affiliation or employee
 of/or who has direct or indirect contact with the main supplier or customer

 Tidak memiliki hubungan perjanjian dengan Perseroan atau perusahaan                          V                          V                       V
 afiliasi lainnya sebagai Direksi
 Has no agreement relationship with the Company or other affiliated
 companies as Directors

 Keterangan | Notes:
 v = terpenuhi | fulfilled
 x = tidak terpenuhi | not fulfilled


                                                        Rangkap Jabatan Anggota KPUPR
                                                       Concurrent Position of KPUPR Members
       Nama                        Jabatan                     Rangkap Jabatan di GMF                    Rangkap Jabatan di Perusahaan/Instansi Lain
       Name                        Position                    Concurrent Position at GMF                   Concurrent Position at Other Companies

 Agit Atriantio        Ketua merangkap Anggota            Komisaris Independen                           Staf Khusus Kementerian Kelautan dan Perikanan
                       KPUPR                              Independent Commissioner                       Special Staff of the Ministry of Marine Affairs and
                       Head & Member KPUPR                                                               Fisheries

 Gary Louis            Anggota KPUPR                      -                                              Direktur Utama PT Multi Kreasi Investama
 Lumempouw             Member KPUPR                                                                      President Director of PT Multi Kreasi Investama

 Endang Tardiana       Anggota KPUPR                      -                                              Vice President Aircraft Maintenance Management
                       Member KPUPR                                                                      PT Garuda Indonesia (Persero) Tbk


PEDOMAN KERJA KPUPR                                                                 WORK GUIDELINE FOR KPUPR

Pedoman kerja KPUPR berlandaskan pada Piagam KPUPR                                  The KPUPR work guideline is based on the KPUPR Charter with
dengan penekanan kepada:                                                            an emphasis on:
1. Monitoring dan evaluasi rencana bisnis Perseroan dan                             1. Monitoring and evaluating the Company’s business and
   pengembangannya;                                                                    development plan;
2. Identifikasi dan penerapan Manajemen Risiko;                                     2. Identifying and implementing Risk Management;




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      3. Identifikasi dan kontrol faktor-faktor keberhasilan Strategic   3. Identifying and controlling the success factors for the
         Plan; dan                                                          Strategic Plan; and
      4. Tugas Khusus.                                                   4. Special Tasks.

      Pedoman KPUPR ditinjau ulang secara berkala sesuai dengan          KPUPR guidelines are reviewed periodically according to the
      kebutuhan dan relevansi penerapannya di dalam Perseroan.           needs and relevance of their application in the Company. The
      Versi terakhir dari Piagam yang digunakan adalah per tanggal       latest version of the Charter used is dated August 2, 2023, based
      2 Agustus 2023 berdasarkan Surat Keputusan DEKOM-GMF/              on the Decree of DEKOM-GMF/SKEP/5004/23 regarding the
      SKEP/5004/23 perihal Penetapan Piagam Komite Dewan                 Determination of the 2023 Board of Commissioners Committee
      Komisaris Tahun 2023.                                              Charter.

      Piagam KPUPR berisi tentang Latar Belakang; Visi dan Misi;         The KPUPR Charter contains the following sections: Background;
      Maksud dan Tujuan, Keanggotaan, Kedudukan, Tugas, Tanggung         Vision and mission; Aims and Objectives; Membership, Position,
      Jawab, dan Wewenang; Prosedur Kerja, Rapat, Pelaporan dan          Duties, Responsibilities, and Authority; Work Procedures,
      Penanganan Pengaduan; Program Pengembangan; Kerahasiaan;           Meetings, Reporting, and Complaint Handling; Development
      Penutup.                                                           Program; Confidentiality; Closing.

      TUGAS DAN TANGGUNG JAWAB KPUPR                                     DUTIES AND RESPONSIBILITIES OF KPUPR

      Berdasarkan Piagam KPUPR, KPUPR bertugas untuk membantu            Based on the KPUPR Charter, the KPUPR has a responsibility to
      Dewan Komisaris dalam mewujudkan sistem dan pelaksanaan            assist the Board of Commissioners in conducting a competent
      pengawasan yang kompeten dan independen di Perseroan,              and independent supervisory system in the Company, which
      termasuk namun tidak terbatas:                                     include but not limited to:
      1. Tugas terkait dengan Manajemen Risiko                           1. Tasks associated with Risk Management
         a. Mengakses seluruh informasi yang relevan tentang                 a. Accessing all relevant information about the Company
             Perseroan dengan tugas dan fungsi komite pemantau                   with the duties and functions of the risk monitoring
             risiko;                                                             committee;
         b. Melakukan komunikasi dengan kepala unit kerja dan                b. Communicating with the heads of working units and
             pihak lain dalam Perseroan untuk memperoleh informasi,              other parties within the Company to obtain information,
             klarifikasi serta meminta dokumen dan laporan yang                  clarification and request the necessary documents and
             diperlukan;                                                         reports;
         c. melakukan pemantauan dan penelaahan terhadap                     c. monitoring and reviewing the Risk Management report
             laporan Manajemen Risiko dan laporan lainnya terkait                and other reports related to the implementation of Risk
             penerapan Manajemen Risiko baik Perseroan maupun                    Management of both the Company and its subsidiaries;
             anak Perusahaan Perseroan;
         d. Melakukan pemantauan dan evaluasi atas kesesuaian               d. Monitoring and evaluating the appropriateness of
             penerapan kebijakan dan strategi manajemen Risiko                  the implementation of risk management policies and
             Perseroan dan anak perusahaan perseroan;                           strategies of the Company and its subsidiaries;
         e. Memberikan rekomendasi kepada Dewan Komisaris                   e. Provide recommendations to the Company’s Board
             Perseroan atas hal yang mendukung efektivitas                      of Commissioners on matters that support the
             penerapan Manajemen Risiko dan kesesuaian antara                   effectiveness of the implementation of Risk Management
             kebijakan Manajemen Risiko Perseroan dan Manajemen                 and the compatibility between the Company’s Risk
             Risiko Anak Perusahaan Perseroan; dan                              Management policies and the Company’s Subsidiaries’
                                                                                Risk Management.; and
           f.Melaksanakan pemantauan dan evaluasi terhadap                   f. Carry out monitoring and evaluation of the
             pelaksanaan fungsi manajemen Risiko lainnya sesuai                 implementation of other risk management functions in
             dengan ketentuan peraturan perunsang-undangan,                     accordance with the provisions of laws and regulations,
             anggaran dasar, dan/ atau keputusan RUPS.                          articles of association, and / or resolutions of the GMS..
      2. Tugas terkait dengan Pengembangan Usaha                         2. Tasks associated with Business Development
         a. Menyampaikan rekomendasi kepada Dewan Komisaris                 a. Provide recommendations to the Board of Commissioners
             atas kebijakan yang telah diambil oleh Direksi berkaitan           on the policies adopted by the Board of Directors in
             dengan Pengembangan Usaha;                                         relation to Business Development;
         b. Melakukan penilaian atas situasi yang diperkirakan              b. Assess the situation that is expected to threaten the
             dapat membahayakan kelangsungan usaha Perseroan;                   continuity of the Company’s business;
         c. Melakukan monitoring dan evaluasi terhadap realisasi            c. Monitor and evaluate the realisation of the Company’s
             bisnis Perseroan termasuk Rencana Kerja dan Anggaran               business including the Company’s Work Plan and Budget
             Perusahaan dan Rencana Jangka Panjang Perusahaan;                  and the Company’s Long Term Plan;




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    d. Mengevaluasi rencana pengembanan/ ekspansi bisnis                           d.   Evaluate the Company’s business development/
       Perseroan.                                                                       expansion plan.
3. Menjaga kerahasiaan dokumen, data dan informasi                              3. Maintain the confidentiality of the Company’s documents,
   Perseroan.                                                                      data and information.
4. Melakukan identifikasi hal-hal yang memerlukan perhatian                     4. Identify matters that require the attention of the Board of
   Dewan Komisaris Perseroan serta tugas-tugas Dewan                               Commissioners of the Company and other relevant duties
   Komisaris Perseroan bersangkutan lainnya                                        of the Board of Commissioners of the Company
   a. Melaksanakan tugas lain yang diberikan oleh Dewan                            a. Carry out other duties assigned by the Board of
       Komisaris berdasarkan ketentuan peraturan perundang-                             Commissioners based on the provisions of the prevailing
       undangan yang berlaku.                                                           laws and regulations.

RAPAT KPUPR                                                                     KPUPR MEETING

Mengacu kepada Piagam KPUPR, rapat KPUPR diadakan                               Following the provisions in its work charter, KPUPR conducts a
setidaknya sekali dalam sebulan. Pada tahun 2023, KPUPR                         meeting at least once every month. In 2023, KPUPR conducted
melakukan rapat sebanyak 6 (enam) kali.                                         6 (six) meetings.


                                                    Rekapitulasi Kehadiran KPUPR pada Rapat
                                                Recapitulation of the Presence of KPUPR at the Meeting
             Anggota KPUPR                         Jumlah Wajib Rapat                   Jumlah Kehadiran                       Kehadiran
             KPUPR Members                      Number of Mandatory Meeting             Number of Presence                      Presence

 Agit Atriantio                                                             6                                  6                                100%
 Ketua
 Chair

 Endang Tardiana                                                            6                                  6                                100%
 Anggota
 Member

 Gary Louis Lumempouw                                                       6                                  6                                100%
 Anggota
 Member

 Rata-rata
                                                                                                                                               100%
 Average



                     Tanggal                                                                Agenda Rapat
                       Date                                                                 Meeting Agenda

 9 Maret 2023                                         Usulan Perubahan Nama Unit Aircraft Support & Power Services
 March 9, 2023                                        Proposed Name Change of Aircraft Support & Power Services Unit

 25 May 2023                                          Rencana Kerjasama BOT antara GMF dengan Kokarga
 May 25, 2023                                         BOT Cooperation Plan between GMF and Kokarga

 3 Agustus 2023                                       Revisi RJPP 2020-2024 GMF
 August 3, 2023                                       GMF RJPP Revision 2020-2024

 7 September 2023                                     Kebijakan Pengadaan
 September 7, 2023                                    Procurement Policy

 24 Oktober 2023                                      Restrukturisasi Utang GMF dan Pemberian Jaminan kepada BRI
 October 24, 2023                                     GMF Debt Restructuring and Guarantee to BRI

 23 November 2023                                     Update Manajemen Risiko
 November 23, 2023                                    Risk Management Update



PENGEMBANGAN KOMPETENSI KPUPR                                                   COMPETENCY DEVELOPMENT FOR KPUPR

Informasi mengenai daftar kegiatan pelatihan dan peningkatan                    Information on the list of training and competency development
kompetensi yang diikuti KPUPR di sepanjang tahun 2022 dapat                     activities for KPUPR throughout 2022 is available in the chapter
dilihat pada bab Fungsi Penunjang Bisnis dalam Laporan                          of Business Support Function of this Integrated Report.
Terintegrasi ini.




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      KEBIJAKAN REMUNERASI                                                           REMUNERATION POLICY

      Remunerasi anggota KPUPR ditetapkan oleh Dewan Komisaris.                      The remuneration of KPUPR members was determined by the
      Ketentuan pemberian honorarium untuk Anggota Komite Dewan                      Board of Commissioners. The honorarium for members of the
      Komisaris diatur berdasarkan ketentuan berikut:                                Board of Commissioners’ Committee are regulated based on
                                                                                     the following:
      1. Besarnya Honorarium bagi Anggota Komite Dewan Komisaris                     1. The Honorarium for Independent Members of the Board
         Independen dan/atau yang tidak berstatus sebagai Pegawai                       of Commissioners’ Committee and/or those who are not
         Perseroan atau Pegawai PT Garuda Indonesia (Persero) Tbk                       employees of the Company or Employees of PT Garuda
         (“Garuda Indonesia”).                                                          Indonesia (Persero) Tbk (“Garuda Indonesia”).
      2. Besarnya Honorarium bagi Anggota Komite Dewan Komisaris                     2. The Honorarium for Members of the Board of Commissioners’
         yang berstatus masih sebagai pegawai Perseroan atau                            Committee who are employees of the Company or Garuda
         Pegawai Garuda Indonesia.                                                      Indonesia.
      3. Honorarium tidak diberikan kepada Ketua/Anggota Komite                      3. The Honorarium is not given to the Chairman/Committee
         Dewan Komisaris yang berstatus sebagai Anggota Direksi                         Member of the Board of Commissioners who is also a
         di Garuda Indonesia dan/atau merangkap sebagai Dewan                           Member of the Board of Directors at Garuda Indonesia and/
         Komisaris Perseroan.                                                           or the Company’s Board of Commissioners.
      4. Pajak atas Honorarium Anggota Komite Dewan Komisaris                        4. Taxes on the Honorarium of Members of the Board of
         dan/atau penghasilan lainnya ditanggung oleh Perseroan.                        Commissioners’ Committee and/or other income shall be
                                                                                        borne by the Company.
      5. Biaya yang timbul atas pemberian honorarium ini menjadi                     5. The Company is responsible for the costs incurred from
         beban Perseroan.                                                               this honorarium.

      PENCAPAIAN KPUPR                                                               KPUPR’S ACHIEVEMENT

      Setiap tahunnya KPUPR menyusun Rencana Kerja untuk                             KPUPR made an annual working plan to do the duties and
      mendukung pelaksanaan tugas dan tanggung jawab dengan                          responsibilities efficiently and effectively. The realization of
      efisien dan efektif. Berikut pencapaian Rencana Kerja KPUPR                    KPUPR’s work plan for 2023 was as follows:
      tahun 2023:


                                                          Program Kerja KPUPR 2023                                                         Realisasi
         No.
                                                             KPUPR Work Plan 2023                                                         Realization

          1.      Melakukan kajian dan evaluasi atas pengembangan usaha MRO                                                                             100%
                  Conduct studies and evaluations of MRO business development

          2.      Melakukan kajian dan evaluasi atas kecukupan kebijakan, konsistensi praktik pengelolaan risiko, dan efektivitas                       100%
                  tindakan mitigasi
                  Reviewing and evaluating the adequacy of policies, the consistency of risk management practices, and the
                  effectiveness of mitigation actions

          3.      Memberikan rekomendasi perbaikan atas praktik pengelolaan dan penanganan risiko Perseroan                                             100%
                  Providing recommendations for improvements to the Company's risk management and management practices

          4.      Melaksanakan tugas lain yang diberikan oleh Dewan Komisaris sepanjang masih dalam ruang lingkup tugas                                 100%
                  dan kewajiban Dewan Komisaris berdasarkan ketentuan yang berlaku
                  Performing other duties given by the Board of Commissioners as long as within the coverage of duties and
                  obligations of the Board according to regulation

          5.      Menyusun rencana kerja KPUPR tahun 2023                                                                                               100%
                  Prepare KPUPR work plan for 2023

          6.      Membuat laporan berkala Triwulanan/setiap 3 bulan sekali kepada Dewan Komisaris                                                       100%
                  Creating a quarterly report/once every 3 months to the Board of Commissioners

          7.      Melaksanakan rapat periodik sekurang-kurangnya 1 kali dalam 3 bulan                                                                   100%
                  Held a periodic meeting at least once every three months

          8.      Melakukan Self-Assessment terhadap kinerja anggota KPUPR                                                                              100%
                  Conducted Self-Assessment on the performance of KPUPR members




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LAPORAN PELAKSANAAN TUGAS TAHUN                              REPORT OF 2023 DUTIES
2023

Selama tahun 2023, KPUPR telah melaksanakan berbagai         Throughout 2023, KPUPR has performed the following activities
kegiatan dalam rangka melaksanakan tugas dan tanggung        to fulfill the duties and responsibilities that cover:
jawab, di antaranya meliputi:
1. Melakukan telaah dan memberikan rekomendasi terkait       1. Conducted review and made recommendations related to
   restrukturisasi utang GMF dengan CTBC;                       GMF’s debt restructuring with CTBC;
2. Melakukan telaah dan memberikan terhadap penyesuaian      2. Conducted review and made recommendations on parent
   organisasi induk;                                            organisation adjustments;
3. Melakukan telaah atas Laporan Triwulan Perusahaan;        3. Reviewed the Company’s Quarterly Report;
4. Melakukan telaah dan memberikan rekomendasi atas          4. Conducted review and made recommendations on
   rencana kerja sama konsorsium;                               consortium cooperation plan;
5. Melakukan telaah dan memberikan rekomendasi atas buku     5. Conducted review and made recommendations on the draft
   rancangan revisi rencana jangka panjang Perseroan;           book of the Company’s long-term plan revision;
6. Melakukan telaah atas Rancangan Rancangan Rencana         6. Conducted review on the Company’s Draft Work Plan and
   Kerja dan Anggaran Perseroan Tahun 2024;                     Budget Year 2024;
7. Melakukan telaah atas restrukturisasi utang dengan Bank   7. Conducted review on the debt restructuring with BRI Bank.
   BRI.




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                                                                                                                                     Corporate Governance




      SEKRETARIS PERUSAHAAN & LEGAL
      Corporate Secretary & Legal


      Berdasarkan Surat Keputusan Direktur Human Capital &                           Based on the Decree of Director of Human Capital & Corporate
      Corporate Affairs No. DC/SKEP-5181/20 tanggal 17 Juli 2020,                    Affairs No. DC/SKEP-5181/20 dated 17 July 2020, the Company
      Perseroan menunjuk Rian Fajar Isnaeni sebagai Sekretaris                       appointed Rian Fajar Isnaeni as Corporate Secretary. The
      Perusahaan. Penunjukan Sekretaris Perusahaan telah dilaporkan                  appointment of the Corporate Secretary has been reported to
      kepada OJK dan Bursa Efek Indonesia pada tanggal 21 Juli 2020                  OJK and the Indonesia Stock Exchange on 21 July 2020 through
      melalui surat No. GMF/DT/SPE-2001/20 untuk memenuhi                            letter No. GMF/DT/SPE-2001/20 to comply with OJK Regulation
      Peraturan OJK No. 35/POJK.04/2014 tentang Sekretaris                           No. 35/POJK.04/2014 concerning Corporate Secretary of Issuers
      Perusahaan Emiten atau Perusahaan Publik.                                      or Public Companies.

      PROFIL VP CORPORATE SECRETARY & LEGAL                                          PROFILE OF CORPORATE SECRETARY &
                                                                                     LEGAL VP

      Berdasarkan Surat Keputusan Direktur Human Capital &                           Based on the Director of Human Capital & Corporate Affairs
      Corporate Affairs No. DC/SKEP-5181/20 tanggal 17 Juli 2020,                    Decree No. DC/SKEP-5181/20 on July 17, 2020, the Company
      Perseroan menunjuk Rian Fajar Isnaeni sebagai VP Corporate                     has appointed Rian Fajar Isnaeni as the Corporate Secretary &
      Secretary & Legal. Pengangkatan VP Corporate Secretary &                       Legal VP. The appointment of the Corporate Secretary & Legal
      Legal telah dilaporkan kepada OJK dan Bursa Efek Indonesia                     VP has been reported to OJK and Indonesia Stock Exchange on
      pada tanggal 6 September 2019 melalui surat No. GMF/DT/SPE-                    September 6, 2019, through letter No. GMF/DT/SPE-2019/19
      2019/19 untuk memenuhi Peraturan OJK No. 35/POJK.04/2014                       to meet the OJK Regulation No. 35/POJK.04/2014 concerning
      tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik.                   Corporate Secretary of an Emitent or a Public Company.


        Rian Fajar Isnaeni
        VP Corporate Secretary & Legal

             Periode Jabatan             Menjabat sejak 21 Juli 2020
                  Period                 Took up the position on July 21, 2020

                                         Warga Negara Indonesia | Indonesian Citizen
               Data Pribadi
                                         Usia 46 tahun | 46 years old
               Personal Data
                                         Kelahiran Palembang, 17 Januari 1977 | Born in Palembang, January 17, 1977

                  Domisili               Jakarta Timur, DKI Jakarta, Indonesia
                  Domicile               East Jakarta, DKI Jakarta, Indonesia

           Bergabung di GMF              7 Januari 2019 sebagai GM Legal & Corporate Governance
               Join GMF                  January 7, 2019, as the GM Legal & Corporate Governance

                Pendidikan               Sarjana (S1) Program Hukum di Universitas Diponegoro
                 Education               Bachelor’s Degree (S1) of Law in Diponegoro University

                                         •   GM Legal & Corporate Governance PT Garuda Maintenance Facility Aero Asia Tbk (2019-2020)
            Pengalaman Kerja
                                         •   Legal Counsel and Compliance Officer PT SEI Consulting Jakarta (2015-2018)
             Work Experience
                                         •   Corporate Legal Manager PT Panasonic Gobel Indonesia (2013-2015)

                                         •   Mengelola Risiko Siber dalam Industri Digital (23     •   Managing the Cyber Risk in the Digital Industry
                                             September 2021) oleh LPPI                                 (September 23, 2021) by LPPI
          Pendidikan dan/atau
                                         •   Advokasi Pelaku Usaha KPPU – AEI tentang Pedoman      •   KPPU – AEI Entrepreneurs Advocacy concerning
         Sertifikasi Profesi yang
                                             Penilaian terhadap Penggabungan, Peleburan atau           Assessment Guidelines for Merger, Consolidation
                 Berlaku
                                             Pengambilalihan (18 Desember 2020) Jakarta – KPPU         or Acquisition (December 18, 2020) Jakarta – KPPU
          Education and/or Valid
                                         •   Pemahaman Filosofi dan Model Struktural Pengelolaan   •   Understanding the Philosophy and Structural Model of
        Professional Certifications
                                             GRC Terpadu, 2020, Tangerang – PT Sinergi Daya            Integrated GRC Management, 2020, Tangerang – PT
                                             Prima                                                     Sinergi Daya Prima




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STRUKTUR CORPORATE SECRETARY & LEGAL                                  CORPORATE SECRETARY & LEGAL
                                                                      STRUCTURE


                                            Corporate Secretary & Legal



                                                                                        Investor Relation




                           Legal & Corporate                                        Corporate
                                                      Business Contract
                              Governance                                        Communication & CSR




Kedudukan Sekretaris Perusahaan dalam struktur organisasi             The Corporate Secretary & Legal is positioned under the President
Perseroan berada langsung di bawah Direktur Utama. Sekretaris         Director. The Corporate Secretary & Legal has several functions
Perusahaan memiliki beberapa fungsi di bawahnya yaitu fungsi          underneath, including Corporate Communication, Business
Corporate Communication, Business Contract, dan Legal &               Contract, and Corporate Legal, which is also responsible for
Corporate Governance yang juga bertanggung jawab dalam                implementing corporate governance and acting as the liaison
pelaksanaan tata kelola perusahaan serta berfungsi sebagai            between the internal and external parties of GMF.
penghubung dengan pihak eksternal maupun internal GMF.

Hingga akhir tahun 2023, jumlah karyawan yang tergabung               By the end of 2023, the employees of the Corporate Secretary
dalam unit Sekretaris Perusahaan sebanyak 19 (sembilan belas)         & Legal consist of 19 (nineteen) people.
orang.


                                                  Jabatan                                                       Jumlah Karyawan
                                                  Position                                                       Total Employee

 Corporate Secretary                                                                                                                    1

 SM Business Contract Specialist                                                                                                        1

 SM Corporate Communication & CSR                                                                                                       1

 SM Investor Relations                                                                                                                  1

 Secretary                                                                                                                              1

 Senior Business Contract Specialist                                                                                                    1

 Business Contract Specialist                                                                                                           2

 Corporate Governance Officer                                                                                                           2

 Corporate Secretary Officer                                                                                                            1

 Legal Advisor                                                                                                                          3

 Legal Officer                                                                                                                          1

 Corporate Communication Executive                                                                                                      1

 Corporate Communication Officer                                                                                                        3

 Jumlah
                                                                                                                                       19
 Total




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                                                                                                                      Corporate Governance




      PEDOMAN KERJA CORPORATE SECRETARY &                               CORPORATE SECRETARY & LEGAL WORK
      LEGAL                                                             GUIDELINE

      Sekretaris Perusahaan GMF telah dilengkapi dengan Pedoman         GMF Corporate Secretary has been equipped with Work
      Kerja yang tertuang pada Surat Keputusan Direktur Utama           Guidelines as stated in the President Director Decree No. DT/
      No. DT/SKEP-5009/23 tentang Organisasi Induk PT Garuda            SKEP-5009/23 concerning the Parent Organisation of PT Garuda
      Maintenance Facility Aero Asia Tbk., dalam Pedoman Direksi        Maintenance Facility Aero Asia Tbk, in the Board of Directors
      Bab 9 tentang Organ Pendukung Direksi Hal.41-42, dan Surat        Guidelines Chapter 9 concerning Supporting Organs of the Board
      Keputusan Direktur Human Capital & Corporate Affairs No. DC/      of Directors Page 41-42, and Decree of the Director of Human
      SKEP-5354/22 tentang Struktur Organisasi Unit Corporate           Capital & Corporate Affairs No. DC/SKEP-5354/22 concerning
      Secretary & Legal PT Garuda Maintenance Facility Aero Asia Tbk.   the Organisational Structure of the Corporate Secretary & Legal
                                                                        Unit of PT Garuda Maintenance Facility Aero Asia Tbk.

      TUGAS DAN TANGGUNG JAWAB CORPORATE                                CORPORATE SECRETARY & LEGAL DUTIES
      SECRETARY & LEGAL                                                 AND RESPONSIBILITIES

      Tugas Sekretaris Perusahaan meliputi:                             The duties of Corporate Secretary are:
      1. Memastikan penyelenggaraan Perseroan oleh Direksi dan          1. Ensuring that the Company’s operations by the Board of
         Dewan Komisaris agar sesuai dengan Undang-undang                  Directors and the Board of Commissioners are in accordance
         Perseroan Terbatas, Anggaran Dasar Perusahaan, Peraturan          with the Limited Company Law, the Company’s Articles of
         Bapepam dan LK, Otoritas Jasa Keuangan, peraturan Bursa           Association, Bapepam and LK Regulations, Financial Services
         Efek dan peraturan terkait lainnya;                               Authority, Stock Exchange regulations and other related
                                                                           regulations;
      2. Mengikuti perkembangan pasar modal termasuk namun              2. Following the development of the capital market including
         tidak terbatas pada peraturan perundang- undangan yang            but not limited to the applicable laws and regulations in the
         berlaku di bidang pasar modal;                                    capital market sector;
      3. Memberikan masukan kepada Direksi dan Dewan Komisaris          3. Provide input to the Directors and Board of Commissioners
         terkait pengelolaan dan administrasi kesekretariatan              regarding the management and administration of the
         Perseroan dalam pengambilan keputusan sesuai dengan               Company’s secretariat in making decisions in accordance
         ketentuan peraturan perundang-undangan yang berlaku               with the provisions of the legislation in force in the field of
         di bidang perseroan terbatas dan pasar modal;                     limited liability companies and the capital market;
      4. Bertindak sebagai penghubung atau liaison officer bagi         4. Act as a liaison officer for the Board of Directors and/or Board
         Direksi dan/atau Dewan Komisaris dengan Pemegang                  of Commissioners with the Shareholders, Financial Services
         Saham, Otoritas Jasa Keuangan, masyarakat dan pemangku            Authority, the public and other stakeholders;
         kepentingan lainnya;
      5. Memastikan pengelolaan, menatausahakan, serta                  5. Ensuring management, administering, as well as storing
         menyimpan dokumen Perseroan yang termasuk, tetapi                 Company documents including but not limited to the Register
         tidak terbatas pada Daftar Pemegang Saham, Daftar Khusus          of Shareholders, Special Register and minutes of meetings
         dan risalah rapat Direksi, rapat Dewan Komisaris dan RUPS;        of the Board of Directors, Board of Commissioners and GMS;
      6. Mengkoordinasikan penyelenggaraan Sistem Pelaporan             6. Coordinating the implementation of the Whistleblowing
         Pelanggaran ( Whistleblowing System /WBS) dengan                  System (WBS) by ensuring that the Violation Report is
         memastikan Laporan Pelanggaran ditindaklanjuti oleh               followed up by the WBS Officer and submitting the follow-
         WBS Officer dan menyampaikan hasil tindak lanjut Laporan          up to the Violation Report to the Directors and/or Board of
         Pelanggaran kepada Direksi dan/atau Dewan Komisaris dan/          Commissioners and/or Shareholders;
         atau Pemegang Saham;
      7. Menjamin penatalaksanaan dan ketersediaan informasi yang       7. Responsible for ensuring the availability of the implementation
         diperlukan dalam pengambilan keputusan oleh Direksi dan           of information disclosure or material facts that are relevant
         Dewan Komisaris, termasuk memastikan kuorum kehadiran             on the website or other communication media including
         peserta rapat sehingga dapat melakukan pengambilan                the legal impact in accordance with applicable regulations;
         keputusan yang sah sesuai dengan ketentuan yang belaku;
      8. Bertanggung jawab dalam memastikan ketersediaan                8. Ensure the management and availability of information
         pelaksanaan keterbukaan informasi atau fakta material             needed in decision making by the Board of Directors and the
         yang relevan pada situs web atau media komunikasi lainnya         Board of Commissioners, including ensuring the attendance
         termasuk dampak hukumnya sesuai dengan ketentuan                  quorum for meeting participants so that they can make legal
         yang berlaku;                                                     decisions in accordance with applicable regulations;
      9. Mempersiapkan dan mengkoordinasikan penyelenggaraan            9. Prepare and coordinate the implementation of Directors’
         Rapat Direksi, Rapat Dewan Komisaris, Rapat Analis dan            Meetings, Board of Commissioners Meetings, Analysts
         RUPS serta forum korporasi lainnya;                               Meetings and GMS and other corporate forums;



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10. Memastikan dan mengkoordinasikan pelaksanaan program          10. Ensuring and coordinating the implementation of Company
    orientasi terhadap perusahaan dan pelatihan bagi Direksi          orientation programs and training for Directors and/or Board
    dan/atau Dewan Komisaris;                                         of Commissioners;
11. Memastikan tindakan koreksi terhadap hasil temuan pada        11. Ensuring corrective actions on findings in the evaluation
    penilaian dan evaluasi atas penerapan GCG dan pada ranah          and evaluation of the implementation of good corporate
    lainnya yang merupakan tanggung jawab dari unit 1 (satu)          governance and in other domains which are the responsibility
    tingkat di bawah Direksi yang membidangi Sekretaris               of units 1 (one) level below the Board of Directors in charge
    Perusahaan;                                                       of the Corporate Secretary;
12. Menyampaikan secara berkala paling kurang 1 (satu) kali       12. To submit periodically at least 1 (one) time in 1 (one) year
    dalam 1 (satu) tahun mengenai pelaksanaan unit 1 (satu)           regarding the implementation of unit 1 (one) level below the
    tingkat di bawah Direksi yang membidangi Sekretaris               Board of Directors in charge of the Corporate Secretary to
    Perusahaan kepada Direksi dan ditembuskan kepada Dewan            the Board of Directors and to the Board of Commissioners;
    Komisaris;
13. Menjalankan unit 1 (satu) Tingkat di bawah Direksi yang       13. Run a unit 1 (one) level below the Board of Directors in
    membidangi Sekretaris Perseroan dengan tidak mengambil            charge of Corporate Secretary without taking personal
    keuntungan Pribadi baik secara langsung maupun tindak             advantage either directly or indirectly, which is detrimental
    langsung, yang merugikan Perseroan;                               to the Company;
14. Menjaga kerahasiaan dokumen, data dan informasi yang          14. Maintain confidentiality of documents, data and information
    bersifat rahasia kecuali dalam rangka memenuhi kewajiban          that are confidential except in the context of fulfilling
    sesuai dengan peraturan perundang-undangan atau                   obligations in accordance with statutory regulations or
    ditentukan lain dalam peraturan perundang-undangan;               otherwise stipulated in legislation;
15. Bertanggung jawab terhadap penyusunan strategi dan            15. Responsible for the preparation of corporate strategies
    kebijakan Perseroan terkait struktur dan mekanisme                and policies related to the structure and mechanism of
    tata kelola perusahaan, berdasarkan prinsip-prinsip               corporate governance, based on GCG principles and based
    GCG dan berlandaskan peraturan perundang-undangan                 on legislation and business ethics in general, consistently
    serta etika bisnis pada umumnya secara konsisten dan              and continuously;
    berkesinambungan;
16. Mengelola dan memitigasi risiko hukum bagi Perseroan          16. Manage and mitigate legal risks for the Company in every
    dalam setiap rencana dan pelaksanaan perikatan dengan             plan and implementation of the engagement with third
    pihak ketiga sesuai dengan ketentuan Anggaran Dasar               parties in accordance with the provisions of the Company’s
    Perusahaan dan peraturan perundang-undangan terkait;              Articles of Association and related laws and regulations;
17. Mencegah terjadinya pelanggaran dalam Perseroan;              17. Prevent violations within the Company;
18. Memastikan penyusunan segala jenis kontrak bisnis antara      18. Ensure the preparation of all types of business contracts
    Perseroan dengan customer, vendor, partner, dan pihak             between the Company and customers, vendors, partners
    lainnya, dengan tetap menjaga kepentingan Persereoan              and other parties, while maintaining the Company’s interests
    dan ketentuan yang berlaku;                                       and applicable regulations;
19. Mengembangkan strategi komunikasi Perseroan secara            19. Developing an effective and reasonable corporate
    efektif dan wajar sejalan dengan tujuan, sasaran Perusahaan       communication strategy in line with the goals, objectives
    dan prinsip GCG;                                                  of the Company and the principles of Good Corporate
                                                                      Governance (GCG);
20. Membangun terbentuknya citra Perseroan yang positif oleh      20. Build the formation of a positive corporate image by
    pemegang saham dan seluruh pemangku kepentingan;                  shareholders and all stakeholders;
21. Memastikan aktivitas Perseroan yang terkait dengan            21. Ensure that the Company’s activities related to the CSR
    program CSR terselenggaran sesuai dengan visi dan misi            program are carried out in accordance with the Company’s
    Perseroan;                                                        vision and mission;
22. Menyelenggarakan dan mengkoordinir pelaksanaan                22. Organize and coordinate the implementation of the activities
    kegiatan-kegiatan Direksi dan Dewan Komisaris dalam               of the Board of Directors and the Board of Commissioners
    setiap aksi atau kegiatan korporasi termasuk namun tidak          in every corporate action or activity including but not limited
    terbatas pada korespondensi, keprotokolan, dokumentasi            to correspondence, protocol, documentation and logistics;
    dan kelogistikan;
23. Bertanggung jawab untuk menjalin hubungan baik                23. Responsible for establishing good relations with relevant
    dengan pemerintah terkait guna mendukung kelancaran               governments to support the smooth development of the
    pengembangan bisnis Perseroan;                                    Company’s business;
24. Menyampaikan laporan berkala perusahaan kepada Otoritas       24. Submit periodic company reports to the Financial Services
    Jasa Keuangan dan Bursa Efek sesuai dengan ketentuan              Authority and the Stock Exchange in accordance with
    yang berlaku;                                                     applicable regulations;




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                                                                                                                       Corporate Governance




      25. Bertanggung jawab terhadap keberjalanan fungsi                 25. Responsible for the implementation of the Investor Relations
          Investor Relations guna memastikan komunikasi dengan               function to ensure that communication with strategic
          relasi strategis, aksi korporasi terkait pasar modal, serta        relations, corporate actions related to the capital market,
          pengelolaan informasi Perseroan dilaksanakan dengan                and management of Company information are carried
          wajar dan berimbang kepada investor, calon investor, analis        out fairly and in a balanced manner to investors, potential
          dan pemangku kepentingan pasar modal pada umumnya                  investors, analysts and capital market stakeholders in general
          dengan tetap mengutamakan prinsip kehati-hatian dalam              while still prioritizing the principle of prudence - be careful
          menjaga kerahasiaan Perseroan sesuai dengan ketentuan              in maintaining Company confidentiality in accordance with
          yang berlaku;                                                      applicable regulations;
      26. Memastikan tindakan koreksi terhadap setiap temuan hasil       26. Ensure corrective action for each finding resulting from
          pelaksanaan audit.                                                 the audit.

      PENGEMBANGAN KOMPETENSI CORPORATE                                  COMPETENCY DEVELOPMENT FOR
      SECRETARY & LEGAL                                                  CORPORATE SECRETARY & LEGAL

      Informasi mengenai daftar kegiatan pelatihan dan peningkatan       training and development programs for its VP and officers
      kompetensi yang diikuti VP dan pegawai Corporate Secretary         throughout 2023 is available in the chapter of Business Support
      & Legal sepanjang tahun 2023 dapat dilihat pada bab Fungsi         Function of this Integrated Report.
      Penunjang Bisnis dalam Laporan Terintegrasi ini.

      PELAKSANAAN TUGAS CORPORATE                                        IMPLEMENTATION OF CORPORATE
      SECRETARY & LEGAL                                                  SECRETARY & LEGAL DUTIES

      Pelaksanaan tugas Corporate Secretary & Legal diklasifikan ke      The implementation of the Corporate Secretary & Legal’s duties
      dalam beberapa fungsi dengan rincian sebagai berikut:              is seen in several functions as follows:

      LEGAL & CORPORATE GOVERNANCE                                       LEGAL & CORPORATE GOVERNANCE
      Memastikan kepatuhan GMF terhadap segala peraturan                 Ensured GMF’s compliance with the prevailing laws and
      perundang-undangan yang berlaku terkait dengan operasional         regulations in terms of business operation and others. This
      dan peraturan lainnya. Kepatuhan ini termasuk kepatuhan            compliance also covered the GCG principles and administration of
      Perseroan dalam menerapkan prinsip-prinsip GCG, sekaligus          the Company’s documents. Providing analysis and consultation
      pendokumentasian dokumen-dokumen Perseroan. Menyediakan            related to legal issues in general, Company policies and its
      analisis dan konsultasi terkait masalah hukum pada umumnya,        management to ensure the suitability of the implementation
      kebijakan Perseroan dan penata kelolanya guna memastikan           of the Company’s business activities.
      kesesuaian pelaksanaan kegiatan usaha Perseroan.

      BUSINESS CONTRACT                                                  BUSINESS CONTRACT
      Menyusun dan mengevaluasi perjanjian atau kerja sama dengan        Prepare and evaluate the agreements or cooperations with third
      pihak ketiga untuk memastikan kepentingan GMF terlindungi          parties to protect GMF’s interests in terms of business and legal
      baik dari sisi bisnis maupun hukumnya. Adapun bentuk kerja         perspectives. The forms of cooperation throughout 2023 can
      sama yang terjadi selama tahun 2023 dapat dilihat pada bagian      be seen in the Cooperation with Other Partners in the Company
      Kerja Sama dengan Mitra Lain di Bab Profil Perusahaan dalam        Profile Chapter within this Integrated Report.
      Laporan Tahunan Terintegrasi ini.

      KOMUNIKASI PERUSAHAAN                                              CORPORATE COMMUNICATION
      GMF selalu berupaya menjalin komunikasi dengan publik dan          GMF has always strived to establish communication with the
      stakeholders lain melalui siaran pers serta korespondensi dengan   public and other stakeholders through press releases and
      OJK dan Bursa Efek Indonesia. GMF juga menyampaikan informasi      correspondence with OJK and the Indonesia Stock Exchange.
      kepada karyawan secara berkala yang berisi ulasan raihan           GMF has also always given the employees the information
      kinerja Perseroan, peristiwa-peristiwa penting, dan memberikan     regarding the Company’s performance, important events, and
      kesempatan kepada karyawan untuk menyampaikan opini                given them the chance to provide strategic opinions to motivate
      strategis untuk memacu kinerja seluruh karyawan.                   all employees.

      SIARAN PERS                                                        PRESS CONFERENCE
      Pada tahun 2023 GMF telah menerbitkan Siaran Pers sebanyak         In 2023, GMF has published 7 (seven) press releases which also
      7 (tujuh) siaran yang dimuat di website resmi Perseroan.           available on the Company’s official website.




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                                                          Judul                                                      Tanggal Terbit
   No.
                                                           Title                                                     Published Date

    1      Jalin Kerja Sama dengan Lembaga Pendidikan, GMF Luncurkan Tiga Kendaraan Listrik                  1 Maret 2023
           Introducing Three Electric Vehicles, GMF Collaborates with Educational Institutions               March 1, 2023

    2      GMF Serahkan Pesawat C130 Milik TNI AU yang Telah Selesai Modernisasi                             8 Maret 2023
           GMF Hands Over the TNI AU's C130 Aircraft which Has Completed Modernization                       March 8, 2023

    3      GMF dan TNI AU Perkuat Kerja Sama Perawatan Pesawat                                               13 April 2023
           GMF and TNI AU enhance their partnership in aircraft maintenance                                  April 13, 2023

    4      GMFI Catatkan Pertumbuhan Usaha pada Kinerja 2022                                                 17 April 2023
           GMFI Records Business Growth in 2022 Performance                                                  April 17, 2023

    5      Restrukturisasi GMFI Tunjukkan Hasil Positif                                                      28 Juni 2023
           GMFI Restructuring Shows Positive Results                                                         June 28, 2023

    6      GMF Optimalkakan MRO Asia Pacific untuk Tingkatkan Profitabilitas                                 29 September 2023
           GMF Optimizes Asia Pacific MRO to Increase Profitability                                          September 29, 2023

    7      Untuk ke Tiga Kalinya, GMF Perpanjang Kemitraan Maintenance Training Services dengan Airbus       18 Oktober 2023
           GMF Extends its Maintenace Training Services Partnership with Airbus                              October 18, 2023


KEGIATAN LEGAL & CORPORATE GOVERNANCE                                     LEGAL & CORPORATE GOVERNANCE ACTIVITIES
Memastikan kepatuhan GMF terhadap segala peraturan                        Ensure GMF complies with all laws and regulations concerning
perundang-undangan yang berlaku terkait dengan operasional                the Company’s operations and others. This compliance includes
bisnis Perseroan maupun peraturan lainnya. Kepatuhan ini                  applying the principles of Good Corporate Governance, as well
termasuk kepatuhan dalam menerapkan prinsip-prinsip Good                  as administration of Company documents. These activities, in
Corporate Governance, sekaligus pendokumentasian dokumen-                 2023, comprised of:
dokumen Perseroan. Kegiatan tersebut pada tahun 2023, di
antaranya:
1. Penyampaian Laporan Harta Kekayaan Penyelenggara                       1. Submitted the State Administration Asset Report (LHKPN)
   Negara (LHKPN) kepada Komisi Pemberantasan Korupsi                        of the Board of Directors to the Corruption Eradication
   (KPK) oleh Direksi;                                                       Commission (KPK) by the;
2. Penandatanganan Pernyataan Kepatuhan atas Kode Etik                    2. Signed the Statement of Compliance with the Company’s
   Perseroan (Code of Conduct);                                              Code of Conduct;
3. Pelaksanaan kegiatan pengendalian gratifikasi sebagaimana              3. Implemented the gratuity control as stipulated in the
   diatur dalam Surat Keputusan Direktur Utama Nomor DT/                     President Director’s Decree Number DT/SKEP-5018/20
   SKEP-5018/20 tanggal 9 Oktober 2020 tentang Pengendalian                  dated October 9, 2020 concerning Gratification Control within
   Gratifikasi di Lingkungan PT Garuda Maintenance Facility                  PT Garuda Maintenance Facility Aero Asia Tbk;
   Aero Asia Tbk;
4. Terkait kebijakan pengendalian gratifikasi dan Whistleblowing          4. In terms of gratuity control and the Whistleblowing System
   System, Perseroan menetapkan fungsi Compliance Officer                    policies, the Company established a Compliance Officer
   yang diatur dalam Surat Keputusan Direktur Utama Nomor                    function as regulated in the President Director’s Decree
   DT/SKEP-5020/20 tanggal 14 Oktoer 2020 sebagai pihak                      Number DT/SKEP-5020/20 dated October 14, 2020 who
   yang bertanggung jawab secara kolektif dalam pembuatan                    has a collective responsibility for preparing reports on
   laporan efektivitas pengendalian gratifikasi dan berperan                 the effectiveness of gratuity control and plays a role in
   menjaga mekanisme Whistleblowing System;                                  maintaining Whistleblowing System mechanism;
5. Pembayaran pajak pribadi tepat waktu dan tepat jumlah;                 5. Faciliated the timely and accurate payment of personal taxes;
6. Penyampaian laporan Daftar Khusus Kepemilikan Saham                    6. Submitted the annual Special List of Share Ownership of
   Direksi dan anggota keluarganya guna menghindari benturan                 the Board of Directors and their family members to avoid
   kepentingan secara berkala setiap tahun;                                  conflicts of interest;
7. Peningkatan efektivitas Whistleblowing System melalui                  7. Increasing the effectiveness of the Whistleblowing System
   peninjauan efektivitas dan penindaklanjutan setiap pelaporan              through reviewing the effectiveness and following up on every
   yang masuk oleh pihak yang bertugas untuk mengelola                       report received by the party tasked with managing violation
   pelaporan pelanggaran dan optimalisasi penyampaian                        reporting and optimizing the delivery of the Whistleblowing
   Whistleblowing System melalui beberapa media setiap                       System through several media every six months.
   enam bulan sekali.




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      INTERNAL AUDIT
      Internal Audit


      Internal Audit bertugas membantu manajemen dalam                           Internal Audit is responsible for assisting the management in
      memaksimalkan efektivitas pengendalian intern. Internal Audit              optimizing the effectiveness of internal control. Internal Audit
      berperan sebagai assurance and consultant dalam mengevaluasi               acts as an assurance and consultant in evaluating the internal
      sistem pengendalian internal, pengelolaan risiko, dan penerapan            control system, risk management, and the GCG implementation
      GCG atas kegiatan operasional.                                             in operational activities.

      PROFIL KEPALA INTERNAL AUDIT                                               PROFILE OF INTERNAL AUDIT HEAD

      Berdasarkan Surat Keputusan No. DC/SKEP-5315/21 tanggal                    Based on Decree No. DC/SKEP-5315/21 dated November
      10 November 2021 dan persetujuan Dewan Komisaris dengan                    10, 2021, and approval from the Board of Commissioners
      surat No. GMF/DEKOM-031/21 tanggal 30 September                            with letter No. GMF/DEKOM-031/21 dated September 30,
      2021, Perseroan menunjuk Deddy Fezantino sebagai Kepala                    2021, the Company appointed Deddy Fezantino as Head of
      Unit Internal Audit. Pengangkatan VP berdasarkan pada                      the Internal Audit Unit. The appointment of VP is based on his
      aspek kemampuan, kompetensi, dan keahlian sesuai yang                      ability, competence, and expertise as required by the Company.
      dipersyaratkan Perseroan.


       Deddy Fezantino
       Kepala Unit Internal Audit
       Head of Internal Audit Unit

                       Periode Jabatan                Menjabat sejak 22 November 2021
                            Period                    Serving since November 22, 2021

                                                      Warga Negara Indonesia | Indonesian Citizen
                         Data Pribadi
                                                      Umur 48 tahun | 48 years old
                         Personal Data
                                                      Kelahiran Padang, 8 Februari 1975 | Born in Padang on February 8, 1975

                            Domisili                  Bekasi, Jawa Barat, Indonesia
                            Domicile

                     Bergabung di GMF                 1 September 2014 sebagai GM Budgeting & Controlling
                         Join GMF                     September 1, 2014, as the GM Budgeting & Cotrolling

                                                      •   Magister Administrasi dan Kebijakan Bisnis – Universitas Indonesia (2004)
                          Pendidikan                  •   Sarjana Akuntansi – Universitas Indonesia (1998)
                           Education                  •   Master of Business Policy & Administration – University of Indonesia (2004)
                                                      •   Bachelor of Accounting - University of Indonesia (1998)

                                                      •   VP Accounting, PT GMF AeroAsia Tbk (2018-2021)
                                                      •   GM Management Reporting & Financial Planning, PT GMF AeroAsia Tbk (2016-2018)
                                                      •   GM Payable & Receivable Accounting, PT GMF AeroAsia Tbk (2015-2016)
                                                      •   GM Budgeting & Controlling, PT GMF AeroAsia Tbk (2014-2015)
                      Pengalaman Kerja
                                                      •   Finance Manager, PT Indonesia Air Transport Tbk (2010-2014)
                       Work Experience
                                                      •   Department Head of Accounting, PT Aero Systems Indonesia (2005-2010)
                                                      •   Tax, Finance & Accounting Supervisor, PT Indomobil Trada Nasional (2004-2005)
                                                      •   Accounting Section Head, PT Tempo Inti Media Tbk (1999-2004)
                                                      •   Administration Staff, IPMI Management Center (1998)

                     Jabatan Rangkap                  VP Internal Audit, PT GMF Aero Asia Tbk (2020-saat ini)
                     Concurrent Position              VP Internal Audit, PT GMF Aero Asia Tbk (2020-present)

                                                      •   Qualified Internal Auditor (QIA) dari Yayasan   •   Qualified Internal Auditor (QIA) from the
                                                          Pendidikan Internal Audit (YPIA) (2022-saat         Internal Audit Education Foundation (YPIA)
                      Sertifikasi Profesi                 ini)                                                (2022-present)
                   Professional Certification         •   Chartered Accountant (CA) dari Ikatan           •   Chartered Accountant (CA) from Institute
                                                          Akuntan Indonesia (2014-saat ini)                   of Indonesia Chartered Accountants
                                                                                                              (2014-present)




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                            STRUKTUR DAN KEDUDUKAN INTERNAL AUDIT
                                                                            Structure and Position of Internal Audit


Struktur Internal Audit Perusahaan mengacu pada Surat                   The Company’s Internal Audit structure refers to Decree No. DC/
Keputusan No. DC/SKEP-5127/21 tentang Struktur Organisasi               SKEP-5127/21 on June 8, 2021, concerning the Organization
Unit Internal Audit PT Garuda Maintenance Facility AeroAsia             Structure of Internal Audit of PT Garuda Maintenance Facility
Tbk tanggal 8 Juni 2021. Kedudukan Unit Internal Audit berada           AeroAsia Tbk. The Internal Audit Unit is positioned under the
langsung di bawah Direktur Utama.                                       President Director.



                                                       Internal Audit
                                                       Audit Internal
                                                                                       Lead Audit Internal Audit Quality
                                                                                          Assurance & Development



                                                                                          Production & Engineering



                                                                                         Financial, Material & Asset



                                                                                                  IT & HCM



                                                                                       Corporate Function & Marketing




                               Corporate & Financial Audit                 Operational & IT Audit



Hingga akhir tahun 2023, jumlah auditor internal Perseroan              By the end of 2023, the Company’s internal auditors were
adalah sebanyak 13 (tiga belas) orang.                                  comprised of 13 (thirteen) people.


                                                     Jabatan                                                               Jumlah Karyawan
                                                     Position                                                               Total Employee

 Vice President                                                                                                                                1

 General Manager                                                                                                                               2

 Lead Auditor                                                                                                                                  3

 Senior Auditor                                                                                                                                4

 Auditor                                                                                                                                       3

 Jumlah
                                                                                                                                              13
 Total



KUALIFIKASI ATAU SERTIFIKASI PROFESI                                    AUDITOR PROFESSIONAL QUALIFICATION OR
AUDITOR                                                                 CERTIFICATION

Mayoritas auditor internal Perseroan telah tersertifikasi QIA.          Most of the Company’s internal auditors are a certified QIA. The
Informasi tersebut dapat dilihat di tabel berikut:                      information is available in the following table:




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                                                                                                                              Corporate Governance




                                                                           Jumlah Personil
                                                                                                Persentase Terhadap Keseluruhan Tim Internal
                    Sertifikasi                         Jabatan          Terserfikasi (orang)
                                                                                                                     Audit
                   Certification                        Position          Certified Personnel
                                                                                                Percentage Against the Entire Internal Audit Team
                                                                                (person)

        Certified Risk Management               Senior Manager                    1                                   7.7%
        Professional (CRMP)

        Chartered Accountants (CA)              Vice President                    1                                   7.7%

        Qualified Internal Auditor (QIA)        Vice President                    1                                  70.0%
                                                Senior Manager                    2
                                                Lead Auditor                      3
                                                Senior Auditor                    3

        Qualified Internal Auditor (QIA) –      Senior Auditor                    1                                  42.8%
        Tingkat Lanjutan | Advance Level                                          2


      KODE ETIK AUDITOR                                                        CODE OF CONDUCT FOR AUDITOR

      Kode Etik yang berlaku bagi auditor internal Perseroan adalah:           The code of conduct for the Company’s internal auditor covers
                                                                               the following:
      1. Menegakan kode etik yang terdiri dari prinsip dan perilaku;           1. Enforce a code of ethics consisting of principles and behavior;
      2. Menghindari aktivitas yang merugikan dan/atau patut                   2. Avoid activities that are detrimental and/or reasonably
         dicurigai dapat merugikan profesi auditor internal atau                  suspected to be detrimental to the profession of internal
         organisasi;                                                              auditors or the organization;
      3. Tidak menerima pemberian dalam bentuk apapun dan                      3. Do not accept gifts in any form and from anyone, directly
         dari siapapun baik langsung maupun tidak langsung dari                   or indirectly, from the auditee, partners or unauthorized
         auditee, rekanan atau pihak yang tidak berkepentingan,                   parties, to maintain the independence and objectivity of
         untuk menjaga independensi dan objektivitas proses audit;                the audit process;
      4. Mematuhi standar profesional auditor internal dan kebijakan           4. Comply with internal auditors’ professional standards and
         serta aturan organisasi.                                                 organizational policies and rules.

      PEDOMAN KERJA                                                            WORK GUIDELINES



                             Piagam Internal Audit telah diunggah di website resmi GMF dan dapat diakses
                                                              oleh publik
                              Internal Audit Charter has been uploaded to the official website of GMF and accessible for the
                                                                         public




      Dalam menjalankan tugas dan tanggung jawabnya, Internal                  In carrying out its duties and responsibilities, Internal Audit
      Audit mengacu pada pedoman kerja sebagai berikut:                        refers to the following work guidelines:

      1. Piagam Internal Audit                                                 1. Internal Audit Charter
         Piagam Internal Audit merupakan rujukan tertinggi                        The Internal Audit Charter is the highest reference for the
         pelaksanaan aktivitas Audit Internal yang ditetapkan oleh                implementation of Internal Audit activities determined by
         Direktur Utama dan Komisaris Utama. Piagam Internal Audit                the President Director and the Chief Commissioner. The
         pertama kali disahkan pada bulan Januari 2005. Dokumen                   Internal Audit Charter was first ratified in January 2005. The
         tersebut telah dikaji ulang kembali dalam rangka penyesuaian             document has been reviewed again in the context of adjusting
         peraturan kondisi dan organisasi Perseroan disahkan pada                 the Financial Services Authority (OJK) regulations and ratified
         tanggal 07 Desember 2022. Piagam Internal Audit berisi                   on December 07, 2022. The Internal Audit Charter contains
         visi, misi, sasaran audit internal, kedudukan unit Internal              the vision, mission, internal audit objectives, the position of
         Audit, wewenang, kewajiban, independensi, tanggung jawab,                the Internal unit Audit, authority, obligation, independence,
         standar audit, ruang lingkup kegiatan Audit, hubungan                    responsibility, audit standards, the scope of Audit activities,
         dengan eksternal auditor dan Komite Audit.                               relations with external auditors and the Audit Committee.




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2. Kebijakan Internal Audit                                        2. Internal Audit Policy
   Kebijakan Internal Audit merupakan hasil dari revisi yang          The Internal Audit Policy is the result of a revision that was
   disahkan pada 10 Mei 2017, sebagai salah satu langkah              passed on May 10th, 2017, as one step in harmonizing
   dalam menyeleraskan dengan kondisi organisasi yang ada             with existing organizational conditions and adjusting the
   serta menyesuaikan format SOP terbaru. Kebijakan Internal          latest SOP format. Internal Audit Policy contains roles
   Audit berisi peran dan tanggung jawab, standar profesi,            and responsibilities, professional standards, policies, risk
   kebijakan, penilaian risiko dan perencanaan audit, layanan         assessment and audit planning, audit services, evidence and
   audit, bukti dan kertas kerja audit, pengendalian aktivitas        audit working papers, internal audit activity control, internal
   audit internal, monitoring aktivitas audit internal, sistem        audit activity monitoring, internal audit unit information
   informasi unit audit internal, layanan investigasi, layanan        systems, investigation services, advisory services, and
   advis, dan pengembangan karir auditor dan konseling.               auditor career development and counseling.
3. Prosedur Bisnis dan Instruksi Kerja
   Prosedur bisnis dan instruksi kerja ditetapkan oleh VP          3. Business Procedures and Work Instructions
   Internal Audit sebagai panduan operasional aktivitas Internal      Business procedures and work instructions are established
   Audit. Prosedur bisnis yang telah ditetapkan yakni, PB-07-         by VP Internal Audit as a guide to operational activities
   002 Audit internal dan tindak lanjut Atas Audit internal, PB-      for Internal Audit. The established business procedures
   07-010 Pelayanan Jasa Konsultasi dan PB-07-003 Quality             are PB-07-002 Internal Audit and follow-up to Internal
   Assurance Review. Instruksi kerja yang telah ditetapkan            Audit, PB07-010 Consultancy Services and PB-07-003
   seperti Pelaksanaan Entry Meeting, Pendokumentasian                Quality Assurance Review. Work instructions that have been
   Kertas Kerja Audit, Penyusunan Laporan Hasil Audit,                determined include the Implementation of Entry Meetings,
   Pengelolaan Tindak Lanjut Audit, dan Penyusunan Laporan            Documentation of Audit Working Papers, Preparation of Audit
   Interim Audit. Saat ini Unit Internal Audit sedang melakukan       Reports, Management of Follow-Up Audit, and Preparation
   review terhadap SOP yang ada disesuaikan dengan kondisi            of Interm Audit Reports.
   dan situasi organisasi Perseroan saat ini.

Internal Audit juga bekerja dengan berpedoman pada Audit Plan      Internal Audit also works according to the Audit Plan and
dan perangkat operasional melalui aplikasi Audit Management        operational tools such as those available in the Audit
System (AMS).                                                      Management System (AMS) application.

TUGAS, KEWENANGAN, DAN RUANG                                       DUTIES, AUTHORITIES, AND SCOPE OF
LINGKUP KEGIATAN                                                   ACTIVITIES

Kewenangan Internal Audit adalah sebagai berikut:                  The authorities of Internal Audit are as follows:
1. Memperoleh informasi dalam waktu yang layak dari seluruh        1. Obtain information in a reasonable time from all GMF
   karyawan GMF. Auditor berhak melihat/mengakses semua               employees, with this authority the Auditor has the right
   dokumen, data dan catatan, meminta keterangan dari setiap          to see/access all documents, data and records, request
   karyawan dan meninjau seluruh area, fasilitas serta aset           information from each employee and review all areas,
   Perseroan. Setiap karyawan berkewajiban memberikan                 facilities and company assets. For this reason, every GMF
   informasi yang diperlukan oleh Auditor bisa bekerja secara         employee is required to provide the information needed by
   efektif dan efisien.                                               the Auditor to work effectively and efficiently.
2. Mengalokasikan sumber daya audit, menentukan fokus,             2. Allocate audit resources, determine the focus, scope and
   ruang lingkup dan jadwal audit, serta menerapkan teknik            schedule of the audit, and apply techniques deemed necessary
   yang dipandang perlu untuk mencapai tujuan audit. Jika             to achieve the audit objectives. If deemed necessary, the
   dipandang perlu, internal audit memiliki wewenang untuk            internal audit has the authority to obtain advice and advice
   mendapatkan saran dan nasihat dari tenaga profesional              from professionals at the company’s expense.
   dengan biaya Perseroan.
3. Berkonsultasi dan menyampaikan laporan kepada Direktur          3. Conducting consultations and submitting reports to the
   Utama dan Komisaris dan berkoordinasi dengan Komite                President Director and Commissioners and coordinating
   Audit.                                                             with the Audit committee.
4. Wewenang auditor sebatas pada penilaian dan analisis atas       4. The auditor’s authority is limited to the assessment and
   aktivitas yang ditelaah/diaudit. Auditor tidak mempunyai           analysis of the activity being reviewed/audited. The auditor
   wewenang dalam hal pelaksanaan dan tanggung jawab                  does not have authority in terms of implementation and
   atas aktivitas yang ditelaah/diaudit tersebut.                     responsibility for the activity being reviewed/audited.




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      Ruang lingkup Internal Audit adalah sebagai berikut:               The scope of Internal Audit work is as follow:
      1. Menilai kegiatan dan program untuk meyakinkan ketaatan          1. Assessing activities and programs to ensure compliance
          terhadap kebijakan, prosedur, dan peraturan yang berlaku          with policies, procedures, and regulations that apply and
          serta berjalan efektif, efisien, dan ekonoms sesuai dengan        run effectively, efficiently, and economically in accordance
          tujuan organisasi yang ditetapkan;                                with established organizational goals;
      2. Memberikan jasa konsultasi, pelaksanaannya dilakukan            2. Providing consulting services, their implementation is carried
          dalam batas-batas yang jelas sedemikian rupa sehingga tidak       out within clear boundaries in such a way that it does not
          mengurangi independensi dan obyektivitas internal audit           reduce the independence and objectivity of the internal
          dalam melakukan assurance terhadap kegiatan-kegiatan              audit in conducting assurance of the activities that are the
          yang menjadi obyek konsultasi;                                    object of consultation;
      3. Memberikan pelayanan nasihat, saran dan sejenisnya kepada       3. Providing advisory services, advice and the like to
          manajemen. Fungsi penasihat ini merupakan suatu proyek/           management. The advisory function is a project/program
          program di luar fungsi auditor sebagai konsultan;                 outside the Auditor’s function as a consultant.
      4. Memberikan jasa investigasi yang dirancang untuk                4. Provide investigative services designed to identify who is
          mengidentifkasi siapa yang bertanggung jawab dan                  responsible and measure the impact of an event that has
          mengukur dampak atas suatu kejadian yang telah atau               or is thought to occur;
          diduga terjadi;
      5. Membantu semua unit kerja mencapai sasaran Perseroan            5. Help all work units achieve company goals through
          melalui simulasi dan proyeksi serta memberikan rekomendasi;       simulations and projections and provide recommendations;
      6. Menilai kewajaran bahwa aliran kas sesuai dengan yang           6. Assess the reasonableness that the cash flows are in
          diperoleh, dianggarkan, disimpan dan digunakan;                   accordance with those obtained, budgeted, stored and used;
      7. Meyakinkan semua pendapatan dilakukan dalam koridor             7. Ensuring that all revenues are carried out in a corridor that
          yang tidak bertentangan dengan hukum dan peraturan yang           is not contrary to applicable laws and regulations;
          berlaku;
      8. Verifikasi bahwa semua set dan sumber daya, termasuk            8. Verification that all sets and resources, including funds,
          dana, sarana, prasarana, dan manusia digunakan sesuai dan          facilities, infrastructure, and people are used accordingly
          dikelola secara ekonomis, efisien dan efektif;                     and are managed economically, efficiently and effectively;
      9. Meyakinkan bahwa pemantauan sistem pengendalian                 9. Ensuring that the monitoring of the internal control system
          internal dilakukan secara efektif dan konsisten oleh seluruh       is carried out effectively and consistently by all levels of
          jajaran manajemen;                                                 management;
      10. Meyakinkan bahwa pengelolaan risiko Perseroan telah            10. Ensuring that the company’s risk management has been
          dilakukan secara relevan.                                          carried out in a relevant manner.

      PENGEMBANGAN KOMPETENSI INTERNAL                                   COMPETENCY DEVELOPMENT FOR
      AUDIT                                                              INTERNAL AUDIT

      Informasi mengenai daftar kegiatan pelatihan dan peningkatan       Information on the list of Internal Audit’s training and
      kompetensi yang diikuti pejabat dan personil Internal Audit        development programs for its executives and officers throughout
      sepanjang tahun 2023 dapat dilihat pada bab Fungsi Penunjang       2023 is available in the chapter of Business Support Function
      Bisnis dalam Laporan Terintegrasi ini.                             of this Integrated Report.

      PELAKSANAAN TUGAS INTERNAL AUDIT                                   IMPLEMENTATION OF INTERNAL AUDIT
                                                                         DUTIES

      Unit Internal Audit telah merealisasikan Audit Plan untuk          The Internal Audit Unit has implemented the Audit Plan for the
      periode tahun 2023 sebanyak 13 pemeriksaan. Adapun secara          2023 period with 13 audits. Overall, there are 10 monitoring
      keseluruhan atas laporan pengawasan oleh Internal Audit yang       reports by Internal Audit issued during 2023, including annual
      diterbitkan selama tahun 2023 sebanyak 10 laporan, termasuk        audits and audits at the request of the Management. Apart from
      di dalamnya pemeriksaan tahunan dan permeriksaan atas              carrying out inspections, the Internal Audit unit also carries out
      permintaan Manajemen. Selain menjalankan pemeriksaan,              other work programs which include the following activities:
      unit Internal Audit juga melaksanakan program kerja lainnya
      yang meliputi kegiatan sebagai berikut:

      1. Melaksanakan Sharing Session atas pengalaman yang               1. Carrying out a Sharing Session on the experience gained
         didapat selama pelaksanaan audit dan juga pengetahuan              during the audit and also the knowledge gained during
         yang didapat selama menjalani pelatihan/seminar;                   training/seminars;




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2. Melakukan koordinasi rutin dengan unit kerja di Perseroan         2. Carry out routine coordination with work units in the
   dan Anak Perusahaan dalam rangka penyelesaian tindak                 Company and Subsidiaries in order to complete follow-up
   lanjut rekomendasi audit.                                            audit recommendations.
3. Berkoordinasi secara rutin dengan Komite Audit dalam              3. Coordinate regularly with the Audit Committee in order to
   rangka menyelaraskan program kerja dan mengevaluasi                  align work programs and evaluate their implementation,
   pelaksanaannya, termasuk perkembangan isu-isu signifikan.            including developments on significant issues.
4. Reviu dan pemutakhiran kebijakan bisnis, prosedur bisnis,         4. Review and update business policies, business procedures
   serta Instruksi Kerja pada unit Internal Audit;                      and Work Instructions in the Internal Audit unit;
5. Melakukan Internal Control Review berdasarkan hasil temuan        5. Conduct Internal Control Review based on audit findings;
   audit;
6. Melanjutkan desain dan pengembangan sistem informasi              6. Continue the design and development of the audit information
   audit;                                                               system;
7. Melaksanakan continuous auditing berupa desk audit dengan         7. Carry out continuous auditing in the form of desk audits
   berbagai topik;                                                      with various topics;
8. Pengukuran Tingkat kepuasan customer terhadap unit                8. Measuring the level of customer satisfaction with the Internal
   Internal Audit melalui survey sebagai dasar evaluasi dan             Audit unit through surveys as a basis for evaluation and
   penyusunan langkah perbaikan yang berkelanjutan;                     preparation of continuous improvement steps;
9. Sebagai mitra auditor eksternal, yaitu KAP, BPK, dan BPKP         9. As an external auditor partner, namely KAP, BPK, and BPKP
   dalam rangka membantu kelancaran pemeriksaan atau                    in order to help smooth audits or requests for certain data
   permintaan kebutuhan data dan informasi tertentu.                    and information needs.

QUALITY ASSURANCE REVIEW                                             QUALITY ASSURANCE REVIEW

GMF memiliki Quality Assurance Review (QAR) untuk                    GMF has a Quality Assurance Review (QAR) to develop, maintain,
mengembangkan, menjaga, dan memperbaiki kualitas audit               and improve the quality of internal audit according to the Institute
internal sesuai standar Institute of Internal Auditors (AII) tahun   of Internal Auditors (AII) standard in 2016 by the Financial and
2016 oleh Badan Pengawas Keuangan dan Pembangunan                    Development Supervisory Agency (BPKP), with the results in
(BPKP), dengan hasil dari sisi kepatuhan tergolong “Patuh”           terms of compliance classified as “Compliant” and in terms of
dan dan dari sisi efektivitas kegiatan tergolong “Cukup Efektif”.    effectiveness of activities classified as “Moderately Effective”.

Perseroan telah melakukan peningkatan dari sisi kepatuhan dan        The Company has improved its internal audit’s compliance
efektivitas audit internal di tahun 2018-2019 dengan merujuk         and effectiveness from 2018 to 2019 using the Opportunity
kepada Opportunity of Improvement (OFI) yang disampaikan             of Improvement (OFI) issued by BPKP.
oleh BPKP.

Pada tahun 2023 dilakukan self assessment terhadap kualitas          In 2023, an internal self-assessment will be carried out on the
fungsi internal audit oleh internal. Rencananya akan dilakukan       quality of the internal audit function. The plan is to carry it out
di tahun 2024 oleh pihak eskternal.                                  in 2024 by external parties.

MONITORING TINDAK LANJUT TEMUAN                                      MONITORING ON FOLLOW-UP OF INTERNAL
INTERNAL AUDIT 2022-2023                                             AUDIT FINDINGS IN 2022-2023

Pada tahun 2023, Unit Internal Audit telah melakukan monitoring      In 2023, the Internal Audit Unit had monitored the follow-up
tindak lanjut temuan auditor internal sebanyak 62 (enam puluh        action on the internal auditor’s 62 (sixty two) findings, which
dua) temuan dengan status sebagai berikut:                           resulted in the following status:


                Tahun                           Temuan
                                                                                 Open                               Closed
                 Year                           Finding

 2023                                                           57                                13                                    44

 2022                                                            5                                0                                      5

 Jumlah
                                                                62                               13                                    49
 Total




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      QUALITY ASSURANCE & SAFETY
      QUALITY ASSURANCE & SAFETY


      Perseroan memiliki Quality Assurance & Safety untuk membantu                   The Company has a Quality Assurance & Safety to help the
      manajemen menerapkan standar peraturan undang-undang                           management comply with the national and international
      penerbangan, yang berlaku secara nasional dan internasional,                   aviation regulations to gain assurance of aircraft maintenance’s
      untuk mendapatkan jaminan dalam mewujudkan proses                              airworthiness.
      pemeliharaan pesawat yang laik terbang.

      PROFIL KEPALA QUALITY ASSURANCE &                                              PROFILE OF QUALITY ASSURANCE & SAFETY
      SAFETY                                                                         HEAD

      Quality Assurance & Safety dipimpin oleh seorang Vice President                Quality Assurance & Safety is led by a Vice President (VP)
      (VP) yang bertanggung jawab langsung kepada Direktur                           who reports directly to the President Director. Based on the
      Utama. Berdasarkan Surat Keputusan Direktur Human Capital                      Decree of the Director of Human Capital & Corporate Affairs
      & Corporate Affairs No. DC/SKEP-5097/22 tanggal 1 Maret                        No. DC/SKEP-5097/22 dated March 1st, 2022, the Company
      2022, Perseroan menunjuk Arif Sugianto sebagai Kepala Unit                     appointed Arif Sugianto as Head of the Quality Assurance &
      Quality Assurance & Safety. Unit Quality Assurance & Safety                    Safety Unit. The Quality Assurance & Safety Unit is equipped
      dilengkapi pedoman kerja yang tertuang dalam Surat Keputsan                    with work guidelines contained in Decree No. DC/SKEP-5001/23
      No. DC/SKEP-5001/23 tentang Struktur Organisasi Unit Quality                   concerning Organizational Structure of the Quality Assurance
      Assurance & Safety PT Garuda Maintenance facility Aero Asia                    & Safety Unit of PT Garuda Maintenance facility Aero Asia Tbk.
      Tbk.


       Arif Sugianto
       Kepala Unit Quality Assurance & Safety
       Head of Quality Assurance & Safety Unit

            Periode Jabatan             Menjabat sejak 1 Agustus 2021
                 Period                 Serving since August 1, 2021

                                        Warga Negara Indonesia | Indonesian Citizen
              Data Pribadi              Usia 54 tahun | 54 years old
              Personal Data             Kelahiran Pasuruan, 25 Maret 1969 | Born in Pasuruan
                                        on March 25, 1969

                 Domisili               Tangerang, Banten, Indonesia
                 Domicile

           Bergabung di GMF             1 Februari 2002 sebagai Staff Dept Aircraft Engineering (Master Engineer)
               Join GMF                 February 1, 2002, as the Staff of Aircraft Engineering Department (Master Engineer)

                                        •   S3 Production & Information Science, Utsunomiya        •   Doctorate Degree in Production & Information Science,
                                            University (2008)                                          Utsunomiya University, Utsunomiya University (2008)
               Pendidikan               •   S2 Mechanical Systems Engineering, Utsunomiya          •   Master’s Degree in Mechanical Systems Engineering,
                Education                   University (2005)                                          Utsunomiya University (2005)
                                        •   S1 Teknik Mesin, Institut Teknologi Sepuluh November   •   Bachelor’s Degree in Engineering, Sepuluh Nopember
                                            (ITS) Surabaya (1994)                                      Institute of Technology (ITS) Surabaya (1994)

                                        •   SM Safety Inspection GMF (Juli 2020-Juli 2021)         •   SM Safety Inspection GMF (July 2020-July 2021)
                                        •   GM Quality System & Auditing Engine Maintenance        •   GM Quality System & Auditing Engine Maintenance
                                            GMF (Desember 2018-Juli 2020)                              GMF (December 2018-July 2020)
                                        •   GM Aircraft Data Group GMF (Oktober 2017-Desember      •   GM Aircraft Data Group GMF (October
                                            2018)                                                      2017-December 2018)
                                        •   GM Reliability Engineering & Services GMF (Juli        •   GM Reliability Engineering & Services GMF (July
           Pengalaman Kerja
                                            2013-Oktober 2017)                                         2013-October 2017)
            Work Experience
                                        •   Master Engineering GMF (Desember 2012-Juli 2013)       •   Master Engineering GMF (December 2012-July 2013)
                                        •   Senior Development Engineer GMF (Juli                  •   Senior Development Engineer GMF (July
                                            2011-November 2012)                                        2011-November 2012)
                                        •   Aircraft Engineer GMF (Februari 2002 - Juli 2011)      •   Aircraft Engineer GMF (February 2002 - July 2011)
                                        •   Aircraft Engineer Garuda Indonesia (Desember 1994      •   Aircraft Engineer Garuda Indonesia (December 1994
                                            - Januari 2002)                                            - January 2002)




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STRUKTUR QUALITY ASSURANCE & SAFETY                                          QUALITY ASSURANCE & SAFETY STRUCTURE


                                                            Quality Assurance & Safety



                                                                                             Quality System & Auditing
                                                                                                base Maintenance

                                                                                         Engine & Component Services
                                                                                                 Engineering,
                                                                                           Material & Logistic Service

                                                                                                  Line Maintenance




  Personnel Qualification     Base Maintenance         Line Maintenance
                                                                                  Safety                  Shop & Material
     & Quality System          Aircraft Quality         Aircraft Quality                                                          AMO Learning Services
                                                                                Inspection               Quality Inspection
      Documentation              Inspection                Inspection



             Personnel                                    Line Maintenance                                       Engine
                                    Base Maintenance                                 Safety                                                Mandatory
           Qualification &                                 Quality Control                                     Maintenance
                                     Quality Group A                               Promotion                                                Training
             Licensing                                         Group A                                        Quality Control



                                                          Line Maintenance           Safety
           Quality System           Base Maintenance                              Performance               Component Services              General
                                                           Quality Control                                    Quality Control
           Documentation             Quality Group B                                Analysis &                                              Training
                                                               Group B
                                                                                  Investigation


                                                          Line Maintenance
                                    Base Maintenance                                                         Receiving Material
                                                           Quality Control
                                     Quality Group C                                                            Inspection
                                                               Group C



                                                          Line Maintenance
                                    Base Maintenance
                                                           Quality Control
                                     Quality Group D
                                                               Group D



                                                          Line Maintenance
                                    Base Maintenance
                                                           Quality Control
                                     Quality Group E
                                                               Group E



                                                          Line Maintenance
                                    Base Maintenance
                                                           Quality Control
                                     Quality Group F
                                                              LMS-DPS




                                                          Line Maintenance
                                                           Quality Control
                                                              LMS-UPG



                                                          Line Maintenance
                                                           Quality Control
                                                              LMS-KNO




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      Hingga akhir tahun 2023, jumlah personil unit Quality Assurance                  By the end of 2023, the Quality Assurance & Safety Unit had
      & Safety adalah sebanyak 265 (dua ratus enam puluh lima) orang.                  265 (two hundred and sixty five) people.


                                                          Jabatan                                                             Jumlah Pegawai
                                                          Position                                                             Total Employee

        Vice President                                                                                                                                     1

        Senior Manager                                                                                                                                   10

        Manager                                                                                                                                          20

        Senior Aircraft Quality Inspector                                                                                                                18

        Aircraft Quality Inspector                                                                                                                       34

        Senior Aircraft Maintenenace Engineer                                                                                                             0

        Aircraft Maintenance Engineer                                                                                                                    37

        Senior Aircraft Maintenance Technician                                                                                                           33

        Aircraft Maintenance Technician                                                                                                                   0

        Certified Quality Auditor                                                                                                                         8

        Associate Quality Auditor                                                                                                                        18

        Senior Quality System Engineer                                                                                                                    7

        Quality System Engineer                                                                                                                           9

        Quality System Officer                                                                                                                           14

        Quality System Support                                                                                                                            9

        Senior Qualification & Licensing Assessor                                                                                                          1

        Qualification & Licensing Assessor                                                                                                                6

        Quality Material Inspector                                                                                                                        7

        Senior Instructor                                                                                                                                 2

        Instructor                                                                                                                                        5

        Senior Quality Material Receiving Officer                                                                                                          1

        Planner                                                                                                                                            1

        Senior Training Planner                                                                                                                            1

        Quality Material Receiving Officer                                                                                                               10

        Senior Shop Quality Inspector                                                                                                                     2

        Shop Quality Inspector                                                                                                                           10

        Secretary                                                                                                                                          1

        Jumlah
                                                                                                                                                       265
        Total


      SERTIFIKASI PROFESI                                                              PROFESSIONAL CERTIFICATION

      Mayoritas personil Quality Assurance & Safety telah tersertifikasi.              Most of the Quality Assurance & Safety personnel are all certified
      Informasinya dapat dilihat di tabel berikut:                                     professionals. The information is as follows:


                                                                                                                             Persentase Terhadap
                                                                                                 Jumlah Personil
                                                                                                                           Keseluruhan Tim Internal
                 Sertifikasi                                 Jabatan                           Terserfikasi (orang)
                                                                                                                                      Audit
                Certification                                Position                           Certified Personnel
                                                                                                                          Percentage Against the Entire
                                                                                                      (person)
                                                                                                                               Internal Audit Team

        Aircraft Maintenance             Senior Aircraft Quality Inspector, Aircraft Quality                      101                                83.5%
        Engineer License                 Inspector, Aircraft Maintenance Engineer

        Certified Quality Auditor        Certified Quality Auditor                                                    8                               100%




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                                                                                                                  Persentase Terhadap
                                                                                   Jumlah Personil
                                                                                                                Keseluruhan Tim Internal
          Sertifikasi                                Jabatan                     Terserfikasi (orang)
                                                                                                                           Audit
         Certification                               Position                     Certified Personnel
                                                                                                               Percentage Against the Entire
                                                                                        (person)
                                                                                                                    Internal Audit Team

 Associate Quality Auditor        Associate Quality Auditor                                             18                                 100%

 Qualification & Licensing        Senior Qualification & Licensing Assessor,                             7                                 100%
 Assessor                         Qualification Licensing Assessor


TUGAS DAN TANGGUNG JAWAB                                                DUTIES AND RESPONSIBILITIES

Tugas Quality Assurance & Safety adalah sebagai berikut:                The Quality Assurance & Safety has the following duties:
1. Menjamin sistem mutu yang independen untuk memantau                  1. Ensuring an independent quality system to monitor the
    kepatuhan organisasi Perseroan terhadap persyaratan                    Company’s compliance with the requirements from the
    otoritas, memfasilitasi implementasi Safety Management                 authorities, facilitating the Safety Management System
    System (“SMS”) termasuk administrasinya agar kegiatan                  (“SMS”) practice, including its administration to ensure the
    perawatan pesawat yang dilakukan Perseroan dapat                       Company’s aircraft maintenance has met the high quality
    memenuhi standar kualitas yang tinggi dan memenuhi                     standards and follow the national/international civil aviation
    ketentuan penerbangan sipil nasional/internasional maupun              regulations and customer requirements, becoming a trusted
    persyaratan pelanggan, menjadi wakil kepercayaan otoritas              representative of the civil aviation authority within the
    penerbangan sipil dalam Perseroan, sebagai konsultan                   Company, as an internal consultant in terms of of compliance
    internal dalam aspek pemenuhan standar kualitas dan                    with quality standards and civil aviation regulations.
    peraturan penerbangan sipil.
2. Bertanggung jawab memantau implementasi sistem                       2. Responsible for monitoring the Company’s quality system,
    mutu yang diterapkan Perseroan, mengeluarkan perintah                  issuing corrective orders if there was a deviation from the
    perbaikan yang harus dikeluarkan atas penyimpangan sistem              quality system, organizing the manufacturing, development,
    mutu, mengorganisir pembuatan dan pengembangan serta                   improvement of the quality system to be in line with
    peningkatan sistem mutu agar selaras dengan kebijakan                  Company’s policies and applicable regulations and standards,
    Perseroan dan sesuai dengan ketentuan regulasi serta                   developing a system to determine product airworthiness and
    standar yang berlaku, pengembangan sistem untuk                        compliance with civil aviation and customer requirements,
    menentukan airworthiness produk dan pemenuhan                          formulating quality policies.
    ketentuan penerbangan sipil serta pelanggan, merumuskan
    kebijakan kualitas.
3. Bertanggung jawab dalam menangani dan mengendalikan                  3. Responsible for managing and controlling the mandatory
    pemberian mandatory training (CASR 145) yang                           training (CASR 145) for all employees and guiding all mentors
    dipersyaratkan bagi seluruh karyawan Perseroan serta                   to increase the competencies (knowledge, skill and attitude)
    melakukan pembinaan seluruh mentor yang ada untuk                      of authorized persons in the Company.
    peningkatan kompetensi ( knowledge, skill, attitude )
    authorized persons di Perseroan.
4. Melaksanakan program efisiensi.                                      4. Performing an efficiency program.
5. Membuat rencana kerja tahunan melalui Balanced Scorecard             5. Preparing an annual work plan through the Balanced
    serta alignment-nya.                                                    Scorecard and its alignment.
6. Menjalankan PDCA Cycle dalam setiap aktivitas Unit 1 (satu)          6. Performing the PDCA Cycle on all activities of the Unit 1
    tingkat di bawah Direksi yang membidangi Quality Assurance              (one) level below the Board of Directors in charge of Quality
    & Safety.                                                               Assurance & Safety.
7. Melakukan mentoring dan coaching terhadap subordinate.               7. Mentoring and coaching subordinates.
8. Mempersiapkan kaderisasi.                                            8. Preparing for regeneration.
9. Mengarahkan dan mengendalikan jalannya seluruh kegiatan              9. Directing and controlling the activities of the Unit 1 (one) level
    Unit 1 (satu) tingkat di bawah Direksi yang membidangi Quality          below the Board of Directors in charge of Quality Assurance
    Assurance & Safety melalui perencanaan, penelusuran,                    & Safety through planning, tracking, and reviewing the
    serta peninjauan kinerja seluruh Senior Manager di Unit 1               performance of all Senior Managers in the Unit 1 (one) level
    (satu) tingkat di bawah Direksi yang membidangi Quality                 below the Board of Directors in charge of Quality Assurance
    Assurance & Safety.                                                     & Safety.
10. Bertanggung jawab atas kinerja dan ketersediaan sumber              10. Responsible for the performance and availability of qualified
    daya yang memenuhi syarat sehingga peran Unit 1 (satu)                  resources, therefore the Unit 1 (one) level below the Board
    tingkat di bawah Direksi yang membidangi Quality Assurance              of Directors in charge of Quality Assurance & Safety can
    & Safety dapat terlaksana dengan baik untuk mencapai                    perform its role appropriately to achieve targets.
    target yang ditetapkan.



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      PENGEMBANGAN KOMPETENSI QUALITY                                      COMPETENCY DEVELOPMENT FOR QUALITY
      ASSURANCE & SAFETY                                                   ASSURANCE & SAFETY

      Informasi mengenai daftar kegiatan pelatihan dan peningkatan         Information on the list of Quality Assurance and Safety’s training
      kompetensi yang diikuti pejabat dan personil Quality Assurance       and development programs for its executives and officers
      & Safety sepanjang tahun 2023 dapat dilihat pada bab Fungsi          throughout 2023 is available in the chapter of Business Support
      Penunjang Bisnis dalam Laporan Terintegrasi ini.                     Function of this Integrated Report.

      PELAKSANAAN TUGAS QUALITY ASSURANCE                                  IMPLEMENTATION OF QUALITY ASSURANCE
      & SAFETY                                                             & SAFETY DUTIES

      Quality Assurance & Safety telah melaksanakan sejumlah               Quality Assurance & Safety has conducted several programs and
      program kerja dan melakukan audit sesuai Audit Plan 2023,            performed audit activities according to the 2023 Audit Plan in
      serta melakukan escort authority. Terdapat 210 (dua ratus            addition to escort authority. There were 210 (two hundred and
      sepuluh) subjek audit yang terdiri dari 184 (serratus delapan        ten) audit subjects comprised of 184 (one hundred and eighty
      puluh empat) subyek Quality Audit dan 26 (dua puluh enam)            four) Quality Audits and 26 (twenty six) Safety Audits. The audit
      subjek Safety Audit. Audit dilakukan terhadap Home Base              was conducted on Home Base Cengkareng, on 47 (fourty seven)
      Cengkareng maupun 47 (empat puluh tujuh) Multibase dan               Multibases and all Out Stations.
      seluruh Out Station.

      Selain melakukan audit, Quality Assurance & Safety juga              In addition to conducting audits, Quality Assurance & Safety also
      melakukan escort authority untuk memastikan GMF sudah                conducts an escort authority to ensure that GMF has met its
      memenuhi izin untuk menjalankan bisnis. Selama tahun 2023            license to run a business. During 2023 there were 29 (twenty
      terdapat 29 (dua puluh sembilan) Authority Approval valid            nine) valid Authority Approvals and Authority Approvals that
      seperti: Certificate of Approval No:145D-1 (Ditjen Perhubungan       are still in the process of being extended, namely: Certificate of
      Udara / DGCA Indonesia), Air Agency Certificate No: WGFY076F         Approval No:145D-1 (DGCA Indonesia), Air Agency Certificate No:
      yang dikeluarkan oleh Federal Aviation Adminstration (Federasi       WGFY076F issued by Federal Aviation Adminstration (Federasi
      Amerika), Maintenance Organization Approval Certificate              Amerika), Maintenance Organization Approval Certificate No:
      No: EASA.145.0062 oleh European Aviation Sagety Agency,              EASA.145.0062 issued by European Aviation Sagety Agency,
      Approval Certificate No. CASA.145.0105 yang dikeluarkan oleh         Approval Certificate No. CASA.145.0105 issued by CASA Australia,
      CASA Australia, serta Approval Certificate dari Authority negara     other Approval Certificate issued by Malaysia, Singapore, India,
      lain seperti Malaysia, Singapura, India, Korea, Thailand, Vietnam,   Korea, Thailand, Vietnam, etc.
      dan lain sebagainya.




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                                      FINANCIAL & MANAGEMENT ACCOUNTING
                                                                                          Financial & Management Accounting


Komitmen GMF menerapkan manajemen risiko salah satunya                           GMF’s risk management commitment is manifested through the
diwujudkan dengan membentuk Bidang Risk Management                               Risk Management Division, part of the Financial & Management
yang merupakan bagian dari Unit Financial & Management                           Accounting Unit based on the Decree Number: DC/SKEP-
Accounting berdasarkan Surat Keputusan Nomor: DC/SKEP-                           5211/22 dated July 5, 2022.
5211/22 tanggal 5 Juli 2022.

PROFIL KEPALA FINANCIAL & MANAGEMENT                                             PROFILE OF FINANCIAL & MANAGEMENT
ACCOUNTING                                                                       ACCOUNTING HEAD

Financial & Management Accounting dipimpin oleh seorang                          Financial & Management Accounting is led by a Vice President
Vice President (VP) yang diangkat dan diberhentikan oleh                         (VP) whose appointed and dismissed by the President Director.
Direktur Utama. Berdasarkan Surat DC/KEP-5325/21 tanggal                         Based on Letter DC/KEP-5325/21 dated November 29, 2021,
29 November 2021, Perseroan menunjuk Chairuddin sebagai                          the Company appointed Chairuddin as Head of Financial &
Kepala Unit Financial & Management Accounting.                                   Management Accounting.


 Chairuddin
 VP Financial & Management Accounting

      Periode Jabatan             Menjabat sejak 30 November 2021
           Period                 Serving since November 30, 2021

                                  Warga Negara Indonesia | Indonesian Citizen
        Data Pribadi
                                  Usia 54 tahun | 54 years old
        Personal Data
                                  Kelahiran Jakarta, 15 Juli 1969 | Born in Jakarta, July 15, 1969

           Domisili               Kelahiran Tanjung Pandan, 15 Juli 1969
           Domicile               Born in Tanjung Pandan on July 15, 1969

     Bergabung di GMF             16 Juni 1993, sebagai Staf Akutansi
         Join GMF                 June 16, 1993, as Accounting Staff

                                  •   Magister Akuntansi Universitas Trisakti (2016)            •    Master of Accounting from Trisakti University (2016)
         Pendidikan
                                  •   Sarjana Akuntansi Universitas Indonesia (2004)            •    Bachelor of Accounting from the University of
          Education
                                                                                                     Indonesia (2004)

                                  •   VP Financial & Management Accounting                      •    VP Financial & Management Accounting
                                      (2021-sekarang)                                                (2021-present)
      Pengalaman Kerja            •   VP Financial Analysis & Enterprise Risk Management        •    VP Financial Analysis & Enterprise Risk Management
       Work Experience                (2020-2021)                                                    (2020-2021)
                                  •   CEO GELKo (2020)                                          •    CEO GELKo (2020)
                                  •   Senior Project Manager (2019-2020)                        •    Senior Project Manager (2019-2020)

                                  •   Charter Accountant (CA Indonesia) sejak 7 Maret 2014      •    Chartered Accountant (CA Indonesia) since March
     Sertifikasi Profesi                                                                             7, 2014
  Professional Certification      •   Institut Akuntan Manajemen Bersertifikat sejak 1 Juli     •    Certified Management Accountants since July 1, 2012
                                      2012


STRUKTUR FINANCIAL & MANAGEMENT                                                  FINANCIAL & MANAGEMENT ACCOUNTING
ACCOUNTING                                                                       STRUCTURE

Hingga akhir tahun 2023, jumlah personil unit Financial &                        By the end of 2023, the Financial & Management Accounting
Management Accounting adalah sebanyak 44 (empat puluh                            unit had 44 (fourty four) people.
empat) orang.


                                                        Jabatan                                                                  Jumlah Karyawan
                                                        Position                                                                  Total Employee

 VP Financial Analysis & Enterprise Risk Management                                                                                                      1

 Sekretaris                                                                                                                                              0




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                                                        Jabatan                                                   Jumlah Karyawan
                                                        Position                                                   Total Employee

        SM Risk & Investment Management                                                                                                   1

        SM Profitability & Budget Control                                                                                                 1

        SM Management Reporting & Financial Planning                                                                                      1

        SM Price Management & Owner Estimate                                                                                              1

        SM Financial Accounting                                                                                                           1

        SM Payable & Receivable Accounting                                                                                                1

        SM Taxation                                                                                                                       1

        Manager Cash & Bank Account                                                                                                       1

        Manager Statutory Reporting & Fixed Asset Accounting                                                                              1

        Manager Value Added Tax                                                                                                           1

        Manager Income & Witholding Tax                                                                                                   1

        Manager Payable Accounting                                                                                                        1

        Manager Receivable Accounting                                                                                                     1

        Business Data Manager                                                                                                             1

        ERM & Internal Control Expert                                                                                                    0

        Senior ERM & Internal Control                                                                                                    3

        Senior Financial Analyst                                                                                                        16

        Financial Analyst                                                                                                                6

        Senior Pricing Analyst                                                                                                           3

        Financial Expert                                                                                                                  1

        Total                                                                                                                           44


      SERTIFIKASI PROFESI                                             PROFESSIONAL CERTIFICATION
      Pada tahun 2023, bidang Risk Management unit Financial &        In 2023, the Financial & Management Accounting unit of
      Management Accounting tidak memberikan pelatihan untuk          Risk Management did not provide any training to obtain any
      mendapatkan sertifikasi kepada personilnya.                     certification to its personnel.

      TUGAS DAN TANGGUNG JAWAB                                        DUTIES AND RESPONSIBILITIES

      Sesuai dengan Surat Keputusan Nomor: DC/SKEP-5211/22            In accordance with the Decree Number: DC/SKEP-5211/22
      tanggal 5 Juli 2022, tugas dan tanggung jawab Financial &       dated July, 5th 2022, the duties and responsibilities of Financial
      Management Accounting sebagai berikut:                          & Management Accounting are as follows:
      1. Menjamin laporan keuangan dan catatan atas laporan           1. Ensure that financial statements and notes on financial
         keuangan dilaporkan tepat waktu sesuai dengan target             statements are reported timely according to the Company’s
         Perseroan.                                                       targets.
      2. Menjamin laporan keuangan diterbitkan sesuai dengan SAK      2. Ensure the financial statements are issued in accordance with
         (Standar Akuntansi Keuangan) dan peraturan-peraturan             SAK (Financial Accounting Standards) and other applicable
         yang berlaku lainnya.                                            regulations.
      3. Menjamin tersedianya informasi keuangan yang digunakan       3. Ensure the availability of financial information for
         untuk laporan keuangan konsolidasi.                              consolidated financial statements.
      4. Memelihara dan mengembangkan sistem informasi                4. Maintain and develop a financial accounting information
         akuntansi keuangan bekerjasama dengan fungsi lainnya.            system in collaboration with other functions.
      5. Menjamin tersedianya kecukupan kebijakan dan prosedur        5. Ensure there is an adequate financial accounting policy and
         akuntansi keuangan.                                              procedure.
      6. Mengelola perpajakan Perseroan agar taat & patuh dengan      6. Manage the Company’s taxes to comply with tax regulations,
         peraturan perpajakan, memfasilitasi dan memberikan nasihat       and facilitate and advse the units related to taxes.
         unit terkait dengan aspek perpajakan.



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7. Menjamin laporan kinerja keuangan Perseroan dan analisis         7. Ensure the Company’s financial statements and analysis are
    atas laporan kinerja keuangan Perseroan dilaporkan tepat           reported timely according to the initial target and ensure the
    waktu sesuai dengan target dan pengelolaan risiko di tingkat       risk management at corporate and service levels is conducted
    korporasi dan dinas terlaksana dan terkontrol dengan baik.         and controlled properly.
8. Mengembangkan dan mengimplementasikan sistem                     8. Develop and implement the Company’s financial analysis
    analisa keuangan Perseroan guna membantu pengambilan               system to assist the management in making decisions.
    keputusan bagi manajemen.
9. Merencanakan anggaran tahunan dan anggaran investasi             9. Plan the Company’s annual budget and annual investment
    tahunan Perseroan yang dituangkan dalam Rencana Kerja              budget as outlined in the Company’s Work Plan and Budget
    dan Anggaran Perusahaan (“RKAP”) dan mengendalikan                 (“RKAP”) and control its realization.
    realisasinya.
10. Merencanakan anggaran jangka panjang dan anggaran               10. Plan the Company’s long-term budget and long-term
    investasi jangka Panjang Perseroan yang dituangkan dalam            investment budget as outlined in the Company’s Long-Term
    Rencana Jangka Panjang Perusahaan (“RJPP”).                         Plan (“RJPP”).
11. Menjadi “business partner” seluruh unit kerja dalam hal         11. Become a “business partner” for all units in terms of financial
    kinerja keuangan dan pengelolaan mitigasi & internal control.       performance and management of mitigation & internal
                                                                        control.
12. Menjamin pengelolaan asset Perseroan tidak terbatas dalam       12. Ensure unlimited management of the Company’s assets
    hal inventarisasi, evaluasi utilisasi dan nilai manfaat serta       in terms of inventory, evaluation of utilization and benefit
    ikut serta pelepasan asset, serta membuat laporan top aset          value as well as participation in asset disposal, as well as
    secara berkala paling sedikit setiap semester.                      making regular top asset reports at least every semester.
13. Bertanggung jawab atas pengelolaan price management             13. Responsible for the price management as the basis for
    sebagai dasar penetapan harga standar dalam pengadaan               setting the standard price in procuring goods and services
    barang dan jasa yang berkaitan dengan perawatan pesawat             related to aircraft maintenance, including the Self Estimated
    udara, termasuk menetapkan Harga Perkiraan Sendiri (“HPS”)          Price (“HPS”) as a reference in the goods and services
    sebagai referensi dalam proses pengadaan barang dan jasa            procurement, managing the Company’s investment from
    serta pengelolaan investasi Perseroan dari perencanaan,             planning, realization, and evaluation from the value and
    realisasi, dan evaluasi nilai pemanfaatannya.                       the utilization.
14. Menjamin kualitas, keamanan, dan keterkinian data yang          14. Ensure the data quality, security, and updated in the Business
    termasuk dalam Business Data Group melalui sentralisasi             Data Group through centralized master data management
    pengelolaan master data di sistem Perseroan.                        in the Company’s system.
15. Menganalisis risiko atas RJPP dan RKAP, merencanakan            15. Analyze the risks in RJPP and RKAP, planning for mitigation and
    mitigasi dan action plan serta memastikan implementasinya.          action plans, ensuring they all are implemented approroately.
16. Menjaga hubungan yang berkesinambungan dengan organ             16. Maintain sustainable relationships with the Company’s
    Perseroan dan mitra kerja lainnya untuk menangani isu-isu           organs and other business partners to deal with current,
    terkini dan relevan yang berkaitan dengan peningkatan               relevant issues to improve the internal control and risk
    pengendalian internal, dan proses tata kelola manajemen             management governance processes within the organization.
    risiko dalam organisasi.
17. Mengarahkan dan mengendalikan jalannya fungsi Business          17. Direct and control the Business Data Manager function
    Data Manager guna memastikan keabsahan data (entry/                 to ensure the data (entry/block/delete in the system) of
    block/delete di sistem) vendor dan pelanggan, serta                 vendors, customers, and other data in the Business Data
    data lainnya yang termasuk dalam Business Data Group                Group within the Company’s system is valid and available to
    yang terdapat pada sistem Perseroan sehingga dapat                  be centralized, maintained, and protected from data errors.
    tersentralisasi, terjaga, dan mencegah terjadinya risiko-
    risiko yang muncul akibat kesalahan data.
18. Melaksanakan program efisiensi.                                 18. Implement an efficiency program.
19. Membuat rencana kerja tahunan melalui Balanced Scorecard        19. Prepare an annual work plan through the Balanced Scorecard
    serta alignment-nya.                                                and its alignment.
20. Menjalankan PDCA Cycle dalam setiap aktivitas Unit Financial    20. Run the PDCA Cycle in every activity of the Financial &
    & Management Accounting.                                            Management Accounting Unit.
21. Melakukan mentoring & coaching terhadap subordinate.            21. Mentoring & coaching subordinates.
22. Memastikan tindak lanjut terhadap setiap temuan hasil           22. Ensure the follow-up on any audit findings are carried out
    pelaksanaan audit dapat terlaksana secara efektif dan               effectively and professionally.
    profesional.
23. Mempersiapkan kaderisasi.                                       23. Preparing for regeneration.
24. Mengarahkan dan mengendalikan jalannya seluruh kegiatan         24. Direct and control the activities of the Unit 1 (one) level
    Unit 1 (satu) tingkat di bawah Direksi yang membidangi              below the Board of Directors in charge of Financial &
    Financial & Management Accounting melalui perencanaan,              Management Accounting by planning, tracking, and reviewing
    penelusuran, serta peninjauan kinerja seluruh Senior Manager        the performance of all Senior Managers in the Unit 1 (one)


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          di Unit 1 (satu) tingkat di bawah Direksi yang membidangi                  level below the Board of Directors in charge of Financial &
          Financial & Management Accounting.                                         Management Accounting.
      25. Bertanggung jawab atas kinerja dan ketersediaan sumber                 25. Responsible for the performance and availability of qualified
          daya yang memenuhi syarat sehingga peran Unit 1 (satu)                     resources to ensure the Unit 1 (one) level below the Board
          tingkat di bawah Direksi yang membidangi fungsi Financial                  of Directors in charge of the Financial & Management
          & Management Accounting dapat terlaksana dengan baik                       Accounting can function appropriately to achieve targets.
          untuk mencapai target yang ditetapkan.

      PENGEMBANGAN KOMPETENSI FINANCIAL &                                        COMPETENCY DEVELOPMENT FOR
      MANAGEMENT ACCOUNTING                                                      FINANCIAL & MANAGEMENT ACCOUNTING

      Informasi mengenai daftar kegiatan pelatihan dan peningkatan               Information on the list of Financial & Management Accounting
      kompetensi yang diikuti pejabat dan personil Financial &                   training and development programs for its executives and
      Management Accounting Accounting sepanjang tahun 2023                      officers throughout 2022 is available in the chapter of Business
      dapat dilihat pada bab Fungsi Penunjang Bisnis dalam Laporan               Support Function of this Integrated Report.
      Terintegrasi ini.

      PELAKSANAAN TUGAS FINANCIAL &                                              IMPLEMENTATION OF FINANCIAL &
      MANAGEMENT ACCOUNTING                                                      MANAGEMENT ACCOUNTING DUTIES

      Kegiatan Financial & Management Accounting dalam melakukan                 The Financial & Management Accounting activities concerning
      Manajemen Risiko dikelompokkan berdasarkan sasaran yang                    Risk Management are categorized based on targets. The
      ingin dicapai. Kegiatan tersebut mencakup peningkatan wawasan              activities include risk insight and culture, corporate-level and
      dan budaya risiko, kegiatan manajemen risiko tingkat korporat,             all units risk management and process.
      kegiatan proses manajemen risiko di dinas dan unit.


                                                        Nama Kegiatan                                                 Jumlah Peserta
         No.
                                                          Activities                                                Number of Participants

          1.     Online Training Assessing Risk in Engineering, Work, and Life                                                                     6

          2.     Sharing session internal                                                                                                          6

          3.     Benchmarking                                                                                                                      8

          4.     GA Group Risk Forum                                                                                                               11


      KEGIATAN PENINGKATAN WAWASAN DAN                                           INCREASING RISK INSIGHT AND CULTURE
      BUDAYA RISIKO
      1. Sosialisasi Manajemen Risiko                                            1. Risk Management Socialization
         Perusahaan terus melakukan sosialisasi manajemen risiko                    The Company has kept on socializing the risk management
         melalui Pelatihan Pengenalan Manajemen Risiko untuk                        through an Introduction Training Program to Managers or
         Manager/setingkat. Selama tahun 2023 telah dilakukan                       those with the same level. The training activities in 2023
         pelatihan pada:                                                            were:
         a. 8 Februari 2023 Training MRO Finance                                    a. MRO Finance Training at February 8, 2023
         b. 15 Februari 2023 Training MRO Finance                                   b. MRO Finance Training at February 15, 2023
         c. 8 Maret 2023 Training Risk Management Officer                           c. Risk Management Officer Training at March 8, 2023

          Kampanye manajemen risiko juga dilakukan melalui                          The risk management campaign was also done through
          WhatsApp Group Komunitas Risk Officer. ERM membagikan                     WhatsApp Group called Komunitas Risk Officer. ERM shared
          konten seminggu sekali terkait manajemen risiko untuk                     new risk management content once a week to increase the
          menambah wawasan dan kesadaran.                                           insight level and build awareness.

      2. Sharing artikel manajemen risiko media internal                         2. Sharing articles on risk management through internal media
         Sosialisasi manajemen risiko juga dilakukan dengan                         The socialization of risk management also uses official
         beberapa metode antara lain penggunaan media komunikasi                    corporate communication channels via email and the
         resmi Perusahaan berupa email dan portal Knowledge                         Knowledge Management portal. ERM also socializes risk
         Management. Sosialisasi juga dilakukan saat memfasilitasi                  management when identifying the risk of a project, process,
         identifikasi risiko terhadap suatu proyek, proses maupun                   or investment. ERM also distribute several articles in 2023
         investasi. Selama tahun 2023 telah dimuat beberapa artikel                 as follows:
         yang berjudul:


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    a. Infografis Risiko Oceangate                                      a. Infographic of Oceangate Risk
    b. Optimizing Net Present Value Using The Risk-Based                b. Optimizing Net Present Value Using The Risk-Based
       Cumulative Construction Methodology                                 Cumulative Construction Methodology
    c. Pentingnya Business Continuity Management System                 c. The Importance of a Business Continuity Management
       Bagi Organisasi                                                     System for Organizations
    d. Sepenting Itukah Strategi Tata Kelola Organisasi dan             d. How Important is the Organizational Governance and
       Risiko untuk START-UP di Indonesia?                                 Risk Strategy for START-UP in Indonesia?
    e. 5 Tren Manajemen Risiko di Tahun 2023                            e. 5 Trends Risk Management in 2023

MANAJEMEN RISIKO TINGKAT KORPORAT                                    CORPORATE LEVEL RISK MANAGEMENT

1. Pengelolaan Risk Register                                         1. Risk Register Management
   Risk Register dilakukan untuk seluruh risiko yang telah              Risk Register applies to all identified risks of the KPI (Key
   teridentifikasi baik dari hasil manajemen risiko terhadap KPI        Performance Indicator) risks, project risks, investment risks,
   (Key Performance Indicator), risiko proyek, risiko investasi,        and business process risks. The Risk Register management
   dan risiko proses bisnis. Pengelolaan Risk Register selama           in 2023 covered the following:
   tahun 2023 mencakup:
   a. Keterlambatan pembayaran oleh pelanggan;                          a.   Customer’s late payment;
   b. Risiko kegagalan GMF memenuhi kewajiban jangka                    b.   Risk of GMF failure to fulfill its short terms liabilities;
        pendek;
   c. Pendapatan investasi tidak terealisasi sesuai dengan              c. Investment return realization do not match with the
        Feasibility Study;                                                 Feasibility Study;
   d. Inflasi yang berkelanjutan;                                       d. Continuous Inflation;
   e. Pembatalan/pengurangan pekerjaan oleh pelanggan                   e. Project cancellation/reduction by Non GA customers;
        Non GA;
    f. Risiko Geopolitik;                                               f. Risk of Geopolitics;
   g. Cyber Security, seperti ransomware, distributed-denial-           g. Cyber Security, i.e. ransomware, distributed denial-of
        of-service (DDoS), pencurian data, pembajakan situs,                service (DDoS), data theft, sites piracy, server & network
        server dan jaringan down;                                           down;
   h. Mundurnya proyek pengembangan kapabilitas baru yang               h. The postpone of new capability development projects
        dirumuskan dalam inisiatif strategis korporat;                      formulated in corporate strategic initiatives;
    i. Service Level Agreement (SLA) dengan pelanggan tidak              i. Service Level Agreement (SLA) with customer is not
        tercapai;                                                           achieved;
    j. Supply Chain Management (SCM) terhambat.                          j. Supply Chain Management (SCM) being obstructed.

2. Koordinasi ERM GMF-GA                                             2. GMF-GA ERM Coordination
   Koordinasi antara GMF dengan GA merupakan hal yang                   The coordination between GMF and GA is important to align
   penting untuk melakukan aligment antara risiko Perusahaan            the risks between the Parent Company and Subsidiaries,
   Induk yang disebabkan oleh Anak Perusahaan, maupun                   which are caused by and affect each other, to create a joint
   sebaliknya, sehingga dapat diantisipasi bersama untuk                effort to anticipate the risks for a sustainable business.
   menjaga kesinambungan bisnis grup secara keseluruhan.                The ERM coordination of GA Group throughout 2023 was
   Selama tahun 2023 telah dilakukan koordinasi ERM GA                  as follows:
   Group, yaitu:
   a. Alignment pelaporan Risk Monitoring pada 21 Maret 2023;           a. Alignment of Risk Monitoring reporting on March 21 2023
   b. Penjelasan Permen BUMN Nomor Per-2/MBU/03/2023                    b. Explanation of BUMN Ministerial Regulation Number
       Tentang Pedoman Tata Kelola dan Kegiatan Korporasi                  Per-2/MBU/03/2023 concerning Guidelines for
       Signifikan BUMN pada 16 Agustus 2023.                               Governance and Significant Corporate Activities of BUMN
                                                                           on 16 August 2023.

3. Survei Budaya Risiko                                              3. Risk Culture Survey
   Survei budaya risiko tahun 2023 telah dilakukan di bulan             The 2023 risk culture survey was conducted in December. The
   Desember. Jumlah responden adalah 423 orang atau 89 %                number of respondents was 423 people or 89% of the total
   dari total populasi responden (475 orang) yang terdiri dari VP,      respondent population (475 people) consisting of VP, SM,
   SM, Manager, Risk Officer, serta PDCA. Bisnis Indeks budaya          Manager, Risk Officer, and PDCA. Business The risk culture
   risiko tahun 2023 adalah sebesar 3.97 dari target indeks             index in 2023 is 3.97 from the index target of 4.00 (scale
   4,00 (skala 5). Hasil survei menunjukkan bahwa responden             5). It can be concluded from the survey that respondents
   menilai tinggi pada dimensi toleransi dan menilai rendah pada        rated highly on the tolerance dimension and rated lowly on
   dimensi wawasan. Dimensi yang menjadi fokus perbaikan                the insight dimension. The Company will focus to improve



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          adalah dimensi-dimensi yang masih dinilai rendah antara lain             several dimensions with low results including Openness,
          Keterbukaan, Wawasan, dan Komunikasi yang akan dituangkan                Insight, and Communication and they will all be a part of
          di dalam Program Kerja 2024 melalui upaya-upaya:                         the 2023 Work Program as follows:
          a. Melakukan agenda pertemuan dengan Risk officer dan                    a. Carrying out meeting agendas with Risk officers
               PDCA Bisnis per semester dan secara insidental jika                      and PDCA Business per semester and incidentally if
               diperlukan;                                                              necessary;
          b. Memfasilitasi pemahaman mengenai pengelolaan risiko.                  b. Facilitate understanding of risk management.


                                                              Indeks Budaya Risiko GMF
                                                                 Risk Culture of GMF
                                                       21     96     166     253         244     330

                                                  4                                                     400

                                                                             3,8         3,8     3,8
                                                3,8                 3,7                                 300
                                                       3,6
                                                3,6                                                     200
                                                             3,4

                                                3,4                                                     100

                                                3,2                                                     0
                                                      2017   2018   2019   2020         2021    2022




      MANAJEMEN RISIKO TINGKAT DINAS/UNIT                                   DIVISION/UNIT LEVEL RISK MANAGEMENT

      MANAJEMEN RISIKO KPI                                                  KPI RISK MANAGEMENT
      Kegiatan ini secara konsisten dilaksanakan setiap tahunnya            Every year, the Company identifies business risks as a basis to
      untuk mengidentifikasi risiko sehingga dapat ditetapkan rencana       create a plan for controlling the risks and achieving the KPI of
      pengendalian risiko untuk memastikan pencapaian KPI 2022 di           2022 at the Department level. Department also conducted a KPI
      tingkat Dinas. Dinas juga melakukan manajemen risiko KPI              risk management at the Unit level throughout 2022 to align the
      Unit Tahun 2022 agar risiko dan pengendalian yang ditetapkan          risk management between the Unit and Corporate. Monitoring
      oleh Unit selaras dengan Korporasi. Selama tahun 2022 juga            of KPI risk control has also been done throughout 2022. The risk
      dilakukan monitoring atas pelaksanaan pengendalian risiko             monitoring activity was aimed to control the High and Crisis risk
      KPI. Kegiatan monitoring risiko bertujuan untuk memantau              levels in every KPI of the Department level throughout 2022.
      pengendalian terhadap risiko dengan level High dan Crisis pada
      setiap KPI di tingkat Dinas selama tahun 2022.

      Kegiatan monitoring risiko dilakukan oleh Dinas dan dilaporkan        The risk monitoring was done by the Department and reported
      bersamaan dengan pencapaian kinerja dalam monthly review              altogether with the achievement in monthly review to Corporate
      kepada Unit Corporate Planning. Di tingkat ini, pengendalian          Planning Unit. At this level, the risk control becomes part of the
      terhadap risiko menjadi bagian performance review agar para           performance review to make Business Owners and Risk Owners
      Business Owner dan Risk Owner di tingkat Dinas dapat lebih            of Department level feel the benefit of risk management. The
      merasakan manfaat pengelolaan risiko. Isu-isu signifikan              significant issues arising due to the risk monitoring will be
      yang muncul akibat monitoring risiko akan dialihkan ke tingkat        directed to the corporate level, managed by the Financial &
      korporasi oleh Unit Financial & Management Accounting.                Management Accounting. The risk monitoring results in 2023
      Hasil monitoring risiko selama tahun 2023 dapat menjadi               will be used to draft the risk profile in 2024.
      pertimbangan dalam menyusun profil risiko pada tahun 2024.

      RISK CONTROL SELF-ASSESSMENT (RCSA)                                   RISK CONTROL SELF-ASSESSMENT (RCSA)
      RCSA di tahun 2023 bertujuan menumbuhkan inisiatif                    The RSCA in 2023 was aimed to make the risk owners more
      pengelolaan risiko oleh risk owner. Bidang Manajemen Risiko           active in managing risks. The Risk Management Unit acts as a
      berperan lebih sebagai fasilitator dalam proses identifikasi,         facilitator in identifying the process, making an assessment, and
      asesmen, dan penentuan aktivitas pengendalian. RSCA terus             determining the controlling activity. RSCA continues to monitor
      memantau kondisi ekonomi di 2023 yang sudah bertumbuh                 economic conditions in 2023 which are already growing strongly.
      dengan kuat. Kondisi tersebut menjadi dasar pelaksanaan Risk          These conditions are the basis for implementing the 2023 Risk
      Assessment 2023 dengan dan 28 (dua puluh delapan) RCSA                Assessment with 28 (twenty eight) Investment RCSAs.
      Investasi.



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                                                                                                AKUNTAN PUBLIK
                                                                                                              Public Accountant


Akuntan publik merupakan organ eksternal Perseroan yang                   A public accountant is the Company’s external body that
berfungsi memberikan opini terkait kesesuaian penyajian laporan           views the financial statements against the prevailing Financial
keuangan Perseroan terhadap Standar Akuntansi Keuangan                    Accounting Standards (SAK) in Indonesia.
(SAK) yang berlaku di Indonesia.

PROSEDUR AUDIT EKSTERNAL DAN STANDAR                                      EXTERNAL AUDIT PROCEDURE AND
AUDIT                                                                     STANDARD

Aktivitas audit yang dilakukan terhadap laporan keuangan                  The audit on the Company’s financial statements is based
Perseroan dilakukan berdasarkan Standar Profesional Akuntan               on the Indonesian Institute of Certified Public Accountants’
Publik yang diterbitkan oleh Institut Akuntan Publik Indonesia            Professional Standards. The audit includes reviewing and
(IAPI). Aktivitas audit meliputi pengujian dan evaluasi terhadap          evaluating the internal control system and examining, based
sistem pengendalian intern serta pemeriksaan, atas dasar                  on a review mechanism, the supporting evidence of the amounts
pengujian, bukti-bukti yang mendukung jumlah-jumlah dan                   and disclosures in the financial statements. The audit also
pengungkapan dalam laporan keuangan. Audit juga meliputi                  includes an assessment of the accounting principles and the
penilaian atas prinsip akuntansi yang digunakan dan estimasi              management’s significant estimation with an evaluation of
signifikan yang dibuat oleh manajemen, serta penilaian atas               the overall financial statement according to the Statement of
penyajian laporan keuangan secara keseluruhan sesuai                      Financial Accounting Standards (PSAK) issued by IAI.
dengan Pernyataan Standar Akuntansi Keuangan (PSAK) yang
dikeluarkan oleh IAI.

Proses audit oleh KAP diawasi oleh KAKCG, yang berkoordinasi              The audit process by KAP is supervised by KAKCG, which
dengan Unit Internal Audit Perseroan. KAKCG memastikan                    coordinates with the Company’s Internal Audit Unit. KAKCG
bahwa seluruh temuan dapat ditindaklanjuti dan berupaya untuk             ensures that all findings can be followed up and seeks to
menekan temuan-temuan di tahun berikutnya.                                suppress the findings in the following year.

MEKANISME PENUNJUKAN AKUNTAN PUBLIK                                       MECHANISM FOR APPOINTING A PUBLIC
                                                                          ACCOUNTANT

Mekanisme penunjukan Akuntan Publik dan KAP yang berlaku                  The mechanism of GMS to appoint a Public Accountant and
di GMF adalah sebagai berikut:                                            KAP is as follows:




                                           Surat
                                                                    Surat
                                    Dewan Komisaris PT
                                                            Permohonan Pemberian
                                   Garuda Indonesia (Per-                                                         Pemberian Arahan terkait
                                                            Arahan terkait KAP dari
    Keputusan RUPS GMF                   sero) Tbk                                         Telaah KAKCG              Penunjukan KAP
                                                             Direktur Utama GMF
    GMS resolution of GMF                 Letter of                                      Review from KAKCG          Supervision concerning
                                                                    Letter to
                                   Board of Commissioners                                                          the Appointment of KAP
                                                            Request a Supervision on
                                   of PT Garuda Indonesia
                                                            KAP from the CEO of GMF
                                        (Persero) Tbk




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      AKUNTAN PUBLIK TAHUN 2023                                                        2023 PUBLIC ACCOUNTANT

      Keputusan RUPS GMF menyetujui penunjukkan KAP untuk                              The GMF GMS decision approved the appointment of KAP for the
      Perseroan disesuaikan dengan KAP yang ditunjuk oleh entitas                      Company in accordance with the KAP appointed by the parent
      induk, PT Garuda Indonesia (Persero) Tbk. Penunjukan ini                         entity, PT Garuda Indonesia (Persero) Tbk. This appointment
      dilaksanakan berdasarkan persetujuan Direksi melalui surat No.                   was carried out based on the approval of the Board of Directors
      GMF/DEKOM/-065/23 tanggal 22 november 2023 berdasarkan                           through letter No. GMF/DEKOM/-065/23 dated 22 November
      pendelegasian kewenangan pada RUPS tanggal 28 Juni 2023.                         2023 based on the delegation of authority at the GMS on 28
      Adapun KAP yang ditunjuk untuk melakukan audit Laporan                           June 2023. The KAP appointed to audit the Company’s Financial
      Keuangan Perseroan untuk Tahun Buku yang berakhir pada                           Statements for the Financial Year ending 31 December 2023
      31 Desember 2023 adalah KAP Tanudiredja, Wibisana, Rintis                        is KAP Tanudiredja, Wibisana, Rintis & Rekan (PwC Indonesia).
      & Rekan (PwC Indonesia).


                                                                    Akuntan Publik Tahun 2023
                                                                     Public Accountant in 2023
             Kantor Akuntan Publik              Tanudiredja, Wibisana, Rintis & Rekan (PwC Indonesia)
             Public Accounting Firm

                      Alamat                    WTC 3, Jl. Jend. Sudirman Kav. 29-31, Jakarta 12920 - Indonesia
                      Address

                     Akuntan                    Ade Setiawan Elimin
                    Accountant

               Periode Penugasan                2023
                Assignment Period

              Periode Penunjukan                Kedua
              Appointment Period                Second

                                                •     Audit atas laporan keuangan konsolidasian
                                                •     Audit atas laporan kepatuhan terhadap Sistem Pengendalian Internal
                      Jasa                      •     Prosedur yang disepakati bersamas atas laporan KPPK
                     Services                   •     Audit on consolidated financial statements
                                                •     Audit of the report on compliance with the Internal Control System
                                                •     Mutually agreed procedures for the KPPK report


                  Jasa Lainnya                  KAP Tanudireja Wibisana Rintis & Rekan (PwC Indonesia) Selama tahun 2023 tidak memberikan jasa lain
                  Other Services                kepada GMF
                                                KAP Tandiredja, Wibisana, Rintis & Associates (PwC Indonesia) did not provide other services to GMF along 2023.

                       Biaya                    Rp3,790,000,000 (tiga miliar tujuh ratus sembilan puluh juta rupiah
                       Cost                     three billion seven hundred and ninety million rupiah)




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                                                                                      DAFTAR AKUNTAN PUBLIK
                                                                                                                 Public Accountant Lists


GMF memenuhi ketentuan Peraturan Menteri Keuangan No. 17/                          GMF follows the Minister of Finance Regulation No. 17/
PMK.01/2008 tentang Jasa Akuntan Publik, dimana KAP yang                           PMK.01/2008 concerning Public Accountant Services, where
ditunjuk hanya boleh melakukan audit paling lama 6 (enam)                          the appointed KAP may only conduct an audit for a maximum
tahun buku berturut-turut dan oleh seorang Akuntan Publik                          of 6 (six) consecutive financial year and by a Public Accountant
maksimal 3 (tiga) tahun buku berturut-turut. Berikut disampaikan                   a maximum of 3 (three) consecutive financial year. Here is
informasi daftar Akuntan Publik GMF sebelum tahun buku 2023:                       information on the list of Public Accountants before the 2023
                                                                                   financial year:


                                                  Kantor
                                                 Akuntan
  Tahun Buku             Akuntan                  Publik                      Ruang Lingkup Audit                Opini Audit        Biaya Audit (Rp)
  Financial Year        Accountant                Public                          Audit Scope                   Audit Opinion        Audit Fee (Rp)
                                                Accountant
                                                   Firm

 2023               Ade Setiawan           Ta n u d i r e d j a ,   •   Audit atas laporan keuangan             Wajar dalam             3.790.000.000
                    Elimin                 Wibisana, Rintis         •   Audit atas laporan kepatuhan terhadap   semua hal yang
                    Izin AP.0225           & Rekan, PWC                 sistem pengendalian internal            material Fair,
                                                                    •   Prosedur yang disepakati bersama atas   in all material
                                                                        laporan KPPK                            respects
                                                                    •   Audit of financial statements
                                                                    •   Audit of compliance reports with the
                                                                        internal control system
                                                                    •   Procedure mutually agreed upon with
                                                                        the KPPK report

 2022               Ade Setiawan           Ta n u d i r e d j a ,   •   Audit atas laporan keuangan             Wajar dalam             3.700.000.000
                    Elimin                 Wibisana, Rintis         •   Audit atas laporan kepatuhan terhadap   semua hal yang
                    Izin AP.0225           & Rekan, PWC                 sistem pengendalian internal            material Fair,
                                                                    •   Prosedur yang disepakati bersama atas   in all material
                                                                        laporan KPPK                            respects
                                                                    •   Audit of financial statements
                                                                    •   Audit of compliance reports with the
                                                                        internal control system
                                                                    •   Procedure mutually agreed upon with
                                                                        the KPPK report

 2021               Daniel Kohar           Ta n u d i r e d j a ,   •   Audit atas laporan keuangan             Wajar dalam             3.830.000.000
                    Izin No. AP.1130       Wibisana, Rintis         •   Audit atas laporan kepatuhan terhadap   semua hal yang
                                           & Rekan, PWC                 sistem pengendalian internal            material Fair,
                                                                    •   Prosedur yang disepakati bersama atas   in all material
                                                                        laporan KPPK                            respects
                                                                    •   Audit of financial statements
                                                                    •   Audit of compliance reports with the
                                                                        internal control system
                                                                    •   Procedure mutually agreed upon with
                                                                        the KPPK report

 2020               Daniel Kohar           Ta n u d i r e d j a ,   •   Audit atas laporan keuangan             Disclaimer              1.600.000.000
                    Izin No. AP.1130       Wibisana, Rintis         •   Audit atas laporan kepatuhan terhadap
                                           & Rekan, PWC                 sistem pengendalian internal
                                                                    •   Prosedur yang disepakati bersama atas
                                                                        laporan KPPK
                                                                    •   Audit of financial statements
                                                                    •   Audit of compliance reports with the
                                                                        internal control system
                                                                    •   Procedure mutually agreed upon with
                                                                        the KPPK report




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                                                          Kantor
                                                         Akuntan
        Tahun Buku              Akuntan                   Publik                         Ruang Lingkup Audit                   Opini Audit        Biaya Audit (Rp)
        Financial Year         Accountant                 Public                             Audit Scope                      Audit Opinion        Audit Fee (Rp)
                                                        Accountant
                                                           Firm

        2019               Daniel Kohar               Ta n u d i r e d j a ,   •   Audit atas laporan keuangan               Wajar terhadap            2.535.000.000
                           Izin No. AP.1130           Wibisana, Rintis         •   Audit atas laporan kepatuhan terhadap     semua hal yang
                                                      & Rekan, PWC                 perundang-undangan                        material
                                                                               •   Audit atas laporan kepatuhan terhadap
                                                                                   sistem pengendalian internal              Fair in all
                                                                               •   Prosedur yang disepakati bersama atas     material
                                                                                   laporan evaluasi kinerja                  aspects
                                                                               •   Prosedur yang disepakati bersama atas
                                                                                   laporan KPPK
                                                                               •   Audit of financial statements
                                                                               •   Audit of compliance reports
                                                                               •   Audit of compliance reports with the
                                                                                   internal control system
                                                                               •   Procedure mutually agreed upon in the
                                                                                   performance evaluation report
                                                                               •   Procedure mutually agreed upon with
                                                                                   the KPPK report

        2018               K a s n e r                Ta n u b r ata           •   Audit atas laporan keuangan               Wajar terhadap              736.000.000
                           SirumapeaIzin No.          Sutanto Fahmi            •   Reviu laporan evaluasi kinerja            semua hal yang
                           AP: 0563                   Bambang &                •   Laporan kepatuhan terhadap peraturan      material
                                                      Rekan (BDO)                  perundang-undangan
                                                                               •   Laporan kepatuhan sistem pengendalian     Fair in all
                                                                                   internal                                  material
                                                                               •   Jasa atestasi terhadap laporan kegiatan   aspects
                                                                                   penerapan prinsip kehati-hatian (KPPK)
                                                                               •   Audit of financial statements
                                                                               •   Review on performance evaluation
                                                                                   report
                                                                               •   Report of compliance with laws and
                                                                                   regulations
                                                                               •   Control system compliance report
                                                                               •   Attestation services to the prudent
                                                                                   principles of activity report (KPPK)




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                                                                    TINDAK LANJUT TEMUAN KAP
                                                                                            Follow-Up from KAP Findings




Dalam pelaksanaan audit, KAP dapat menemukan sejumlah                  When auditing, KAP may find several findings that the Company
temuan yang nantinya akan dimonitor oleh Perseroan. Realisasi          may need to monitor. The follow-up that the Company has done
tindak lanjut oleh Perseroan selama 2018-2023 adalah sebagai           from 2018 to 2023 are as follows:
berikut:


                                                                     Jumlah Temuan Audit Sistem
                            Jumlah Temuan Audit Keuangan
    Tahun Buku                                                                 Informasi                          Realisasi Tindak Lanjut
                              Number of Finding in Financial
    Financial Year                                                  Number of Finding in Information              Realization of Follow-Up
                                         Audit
                                                                            System Audit

        2023                                                   14                                        4                               42.8%

        2022                                                   7                                         5                                71.4%

         2021                                                  10                                        2                                 58%

        2020                                                   11                                         -                                54%

        2019                                                   15                                        5                                 85%

        2018                                                   9                                          -                               100%




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      MANAJEMEN RISIKO [E.3]
      Risk Management [E.3]


      GMF menerapkan Manajemen Risiko Perusahaan atau Enterprise                  GMF implements Enterprise Risk Management (ERM) which
      Risk Management (ERM) yang mengacu pada referensi ISO                       refers to ISO 31000, COSO ERM, and the Australia /New
      31000, COSO ERM, dan kerangka Australia Standard/New                        Zealand Standard 4360 framework. The Board of Directors
      Zealand Standar 4360. Direksi Perseroan telah menetapkan                    has established a series of Risk Governance to create a
      serangkaian Risk Governance untuk membentuk lingkungan                      supportive, risk-conscious internal environment for effective
      internal yang mendukung jalannya proses manajemen risiko                    risk management. Risk Governance consists of determining the
      secara efektif dan membangun budaya usaha yang sadar risiko.                Risk Philosophy, Risk Response standards, Risk Map Format,
      Risk Governance terdiri dari penetapan Risk Philosophy, standar             determining the Risk Appetite and Risk Tolerance for 10 Risk
      Risk Respond, Risk Map Format, penetapan Risk Appetite dan                  Parameters along with the Consequence & Likelihood Criteria.
      Risk Tolerance untuk 10 Parameter Risiko beserta Consequence
      & Likelihood Criteria.

      Perseroan menjaga konsistensi penerapan manajemen risiko                    The Company remains consistent in implementing risk
      melalui Pedoman Tata Kelola Perusahaan dan Kebijakan                        management through the Corporate Governance Guidelines
      Manajemen Risiko No. KB-01-009. Pelaksanaan pedoman ini                     and Risk Management Policy No. KB-01-009. These guidelines
      telah diatur dalam serangkaian Standard Operating Procedure                 have been put in a series of Standard Operating Procedures to
      untuk memastikan penerapan manajemen risiko yang seragam                    ensure uniform and harmonized risk management.
      dan selaras.




                       Kebijakan Manajemen Risiko telah diunggah di website resmi GMF dan dapat diakses
                                                          oleh publik
                           The Risk Management Policy has been uploaded to the official website of GMF and accessible for the public


                                                                         CLICK HERE




      KERANGKA KERJA MANAJEMEN RISIKO                                             RISK MANAGEMENT FRAMEWORK

      GMF telah merancang framework untuk menganalisis dan                        GMF has designed a framework for analyzing and managing
      mengelola risiko usaha untuk menjamin manajemen risiko yang                 business risk to create a structured and effective risk
      terstruktur dan efektif. Perseroan menyertakan analisis risiko              management. The Company includes risk analysis as a
      sebagai salah satu pertimbangan dalam pengambilan keputusan                 consideration when making decisions on project planning and
      terkait perencanaan proyek dan investasi. Berikut anatomi ISO               investment. The following is the anatomy of ISO 31000 that acts
      31000 sebagai panduan dalam penerapan Manajemen Risiko                      as a guideline in implementing the Company’s Risk Management:
      yang dimiliki Perseroan:




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                                                     Panduan Manajemen Risiko GMF
                                                     GMF Risk Management Guideline


                Prinsip-prinsip                               Kerangka Kerja                                                        Proses
                    Principles                                   Framework                                                          Process


   1.  Manajemen risiko menciptakan dan
       melindungi nilai
   2. Manajemen risiko adalah bagian terpadu
                                                            Mandat dan Komitmen
       dari semua proses dalam organisasi
   3. Manajemen risiko merupakan bagian dari               Mandate and Commitment                                              Penentuan Konteks
       pengambilan keputusan                                                                                                     Risk Response
   4. Manajemen risiko secara eksplisit
       ditunjukkan pada ketidakpastian
   5. Manajemen risiko adalah sistematik,
       terstruktur dan tepat waktu
   6. Manajemen risiko berdasarkan informasi
       terbaik yang tersedia
   7. Manajemen risiko adalah disesuaikan
       penggunanya                                      Rancangan kerangka kerja untuk
   8. Manajemen risiko mempertimbangkan                       pengelolaan risiko
       faktor manusia dan budaya                          Design a frameworks for risk
   9. Manajemen risiko adalah transparan dan                     management
       inklusif                                                                                                                Identifikasi Risiko
   10. Manajemen risiko adalah dinamis, berulang                                                                               Risk Management
       dan responsif terhadap perubahan




                                                                                              Information and Communication
   11. Manajemen risiko memfasilitasi perbaikan


                                                                                                 Informasi dan Komunikasi
       terus menerus dari organisasi
   1. Risk management creates and protects




                                                                                                                                                      Monitoring
       values                                                                                                                   Pengkajian Risiko
   2. Risk management is an integrated part of all                                                                              Risk Management
       organization process
   3. Risk management is part of decision making          Perbaikan      Pengimplementasian
   4. Risk management clearly shows uncertainty         berkelanjutan     manajemen risiko
                                                       terhadap suatu     Implementation of
   5. Risk management is systematic, structured
                                                        kerangka kerja     risk management
       and punctual
                                                          Continuous                                                           Penentuan Konteks
   6. Risk management based on the optimum
       available information                           improvement of                                                            Risk Response
   7. Risk management is adjusted to the users            framework
   8. Risk management considers the human and
       cultural factors
   9. Risk management is transparent and
       inclusive
   10. Risk management is dynamic, repetitive,
       and responsive against the change
   11. Risk management facilitates ongoing
       improvement from the organization
                                                      Pemantauan tinjuan suatu kerangka
                                                                      kerja                                                   Kegiatan Pengendalian
                                                      Monitoring and reviewing a framework                                        Control Activity




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      GMF telah membentuk Tim Enterprise Risk Management (ERM)                     GMF has established an Enterprise Risk Management (ERM)
      sebagai salah satu organ pendukung Direksi yang bertanggung                  Team as one of the supporting bodies of the Board of Directors to
      jawab menjalankan manajemen risiko di lingkup Perseroan.                     handle the risk management. GMF adopts the 3 Lines of Defense
      GMF mengadopsi prinsip 3 Lines of Defense dalam mengelola                    principle in managing business risk. The Company designs an
      risiko usaha. Perseroan merancang struktur organisasi yang                   organizational structure that clearly describes the authority
      menggambarkan secara jelas batas wewenang dan tanggung                       and responsibility of each internal control body at each defense
      jawab setiap organ dalam sistem pengendalian internal di setiap              line. The organizational structure separates the functions of
      lapis pertahanan (line of defense). Struktur organisasi dirancang            risk-taking unit, supporting unit, and risk management unit.
      agar terjadi pemisahan fungsi antara satuan kerja pengambil                  The final responsibility for risk management rests with each
      risiko (risk taking unit), satuan kerja pendukung (supporting                unit as the risk owner of operational activities.
      unit), dan satuan kerja manajemen risiko (risk management
      unit). Tanggung jawab akhir atas pengelolaan risiko ada pada
      masing-masing unit kerja selaku pemilik risiko (risk owner) dari
      aktivitas operasional.

      ROADMAP MANAJEMEN RISIKO                                                     RISK MANAGEMENT ROADMAP

      GMF menyusun Roadmap ERM 2007-2023 sebagai langkah                           GMF compiled the 2007-2023 ERM Roadmap as a strategic
      strategis dalam menunjang pengelolaan risiko GMF. Berikut                    initiative in supporting GMF risk management. The following
      Roadmap ERM 2007-2023 yang dimiliki GMF:                                     is the 2007-2023 ERM Roadmap of GMF:


                     Awareness                • Qualitative Risk                         Competence              • GA Group Risk Alignment
                                              • ERM Handbook Manual
                    (2007-2008)                                                          (2014-2016)             • Medium Risk Culture
                                              • ERM Campaign



                                                                                                                 • Risk Maturity Index 3.5
                    Commitment
                                              • ERM Framework                             Integrated             • Risk Criteria Alignment
                                              • Risk Governance & Policy                 (2017-2020)
                    (2009-2011)                                                                                  • Quantitative Risk
                                              • Medium Risk Culture (60%)



                                                                                                                 • Centralized system
                                              • Risk Register                              Leading               • Paperless ERM Process
                     Consistence              • Early Warning Report                     (2021-2023)             • Improved
                    (2012-2013)               • Risk Management Unit




      PROFIL RISIKO                                                                RISK PROFILE

      Bidang usaha GMF memiliki risiko inheren yang bersifat                       GMF business has an inherent internal and external risks. The
      internal dan eksternal. Perseroan selalu melakukan risk                      Company annually assess the risks to identify potential risks and
      assessment setiap tahunnya untuk mengenali potensi risiko dan                classify them into various levels of risk profiles to manage the
      mengklasifikasikannya menjadi profil risiko ke dalam berbagai                risks more effectively. The risk profile in 2023 was as follows:
      tingkatan untuk membantu penanggulangan risiko yang lebih
      efektif. Profil risiko yang dihadapi GMF pada tahun 2023 adalah
      sebagai berikut:


                                     Risiko                                                          Dampak
         No.
                                      Risk                                                            Impact

        Risiko Strategis
        Strategic Risks

          1      Inflasi yang berkelanjutan                    •   Perubahan nilai kurs tidak terprediksi
                 Ongoing inflation                             •   Biaya produksi meningkat
                                                               •   Kinerja menurun
                                                               •   Changes in exchange rates are unpredictable
                                                               •   Production costs increase
                                                               •   Performance decreases




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                                 Risiko                                                                     Dampak
  No.
                                  Risk                                                                       Impact

    2      Pembatalan/pengurangan pekerjaan oleh                  •   Menurunnya pendapatan TMB GMF
           pelanggan Non GA                                       •   Target arus kas tidak tercapai
           Cancellation/reduction of work by non-GA               •   Batas dampak catastrophic parameter risiko untuk pendapatan adalah jika pencapaian
           customers.                                                 pendapatan kurang dari 92%
                                                                  •   TMB GMF revenue decreases
                                                                  •   Cash flow targets are not achieved
                                                                  •   The threshold for the catastrophic impact on revenue is if the revenue is less than 92%

    3      Risiko Geopolitik                                      •   Rantai pemasok terganggu
           Geopolitical risk                                      •   Embargo
                                                                  •   Mempersempit penerimaan pelanggan dan vendor
                                                                  •   Supply chains are disrupted
                                                                  •   Embargoes
                                                                  •   Narrow customer and vendor acceptance

    4      Cybersecurity, seperti ransomware,                     •   Mengganggu operasi bisnis
           distributed-denial-of-service (DdoS),                  •   Pembajakan situs yang dapat menyebabkan krisis di mata publik
           pencurian data, pembajakan situs, server               •   Disruptions to business operations
           dan jaringan down                                      •   Site hijacking, which can cause a crisis in the eyes of the public
           Cybersecurity threats, such as ransomware,
           distributed-denial-of-service (DDoS), data
           theft, site hijacking, and server and network
           downtime

 Risiko Keuangan
 Financial Risks

    1      Keterlambatan pembayaran oleh                          •   Target arus kas tidak tercapai
           pelanggan                                              •   Naiknya jumlah utang Perseroan di luar rencana dalam memenuhi kebutuhan modal
           Delay in payment by customers                              kerja dan kewajiban jangka pendek
                                                                  •   Kekurangan modal kerja untuk operasional
                                                                  •   Kekurangan modal investasi untuk pengembangan Perseroan
                                                                  •   Meningkatnya impairment
                                                                  •   Profit berkurang
                                                                  •   Cash flow targets not achieved
                                                                  •   Increase in the Company's debt beyond plan to meet working capital needs and short-
                                                                      term obligations
                                                                  •   Lack of working capital for operations
                                                                  •   Lack of investment capital for Company development
                                                                  •   Increased impairment
                                                                  •   Reduced profits

    2      Liability Risk (risiko kegagalan GMF                   •   Jika GMF tidak dapat memenuhi kewajiban maka GMF dapat diajukan PKPU/dipailitkan
           memenuhi kewajiban jangka pendek)                          oleh kreditur
           Liability risk (risk of GMF failing to fulfill         •   Jika GMF tidak dapat memenuhi kewajiban atau tidak dapat menemukan kesepakatan
           short-term obligations)                                    mengenai payment plan dengan vendor maka GMF dapat diblokir dalam supply chain
                                                                      pemenuhan kebutuhan operasional
                                                                  •   If GMF cannot fulfill its obligations, it can be subjected to PKPU/bankruptcy by creditors
                                                                  •   If GMF cannot fulfill its obligations or cannot reach an agreement regarding a payment plan
                                                                      with the vendor, it can be blocked in the supply chain necessary to meet operational needs

    3      Pendapatan investasi tidak terealisasi                 •   Menurunnya pendapatan GMF secara signifikan baik PBTH maupun TMB di mana
           sesuai dengan feasibility study                            komposisi pendapatan dari GIA masih dominan
           Investment income not realized in                      •   Batas dampak Catastrophic Parameter risiko untuk pendapatan adalah jika pencapaian
           accordance with the feasibility study                      pendapatan kurang dari 98.88%
                                                                  •   Significant decline in GMF revenue for both PBTH and TMB, where the composition of
                                                                      revenue from GIA is still dominant
                                                                  •   The catastrophic impact limit for the risk parameter of revenue is if the revenue
                                                                      achievement is less than 98.88%

 Risiko Operasional
 Operational Risks

    1      Mundurnya proyek pengembangan                          Tidak tercapainya target pendapatan yang sudah diproyeksikan dari proyek pengembangan
           kapabilitas baru yang dirumuskan dalam                 kapabilitas baru
           inisiatif strategis korporat                           Failure to achieve projected revenue target from the new capability development
           Po s t p o n e m e n t o f n e w c a p a b i l i t y
           development projects in corporate
           strategic initiatives




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                                     Risiko                                                               Dampak
         No.
                                      Risk                                                                 Impact

          2      SLA dengan pelanggan tidak tercapai            •   Menimbulkan denda dari ketidaktercapaian SLA
                 Service Level Agreement (SLA) with             •   Rework yang menyebabkan peningkatan biaya
                 customers not achieved                         •   Citra Perseroan menurun
                                                                •   Keluhan dari pelanggan
                                                                •   Incurrence of fines from non-achievement of SLAs
                                                                •   Rework, leading to increased costs
                                                                •   Decline in the Company's image
                                                                •   Complaints from customers

          3      SCM terhambat                                  •   Menimbulkan denda dari ketidaktercapaian SLA
                 SCM is inhibited                               •   Rework yang menyebabkan perningkatan biaya
                                                                •   Citra Perseroan menurun
                                                                •   Keluhan dari pelanggan
                                                                •   Banyak waktu tidak produktif dari tim produksi
                                                                •   Hilangnya pelanggan GMF
                                                                •   Incurrence of fines from non-achievement of SLAs
                                                                •   Rework, leading to increased costs
                                                                •   Decline in the Company's image
                                                                •   Complaints from customers
                                                                •   Significant unproductive time from the production team
                                                                •   Loss of GMF customers


      MITIGASI RISIKO                                                                 RISK MITIGATION

      Perseroan merancang upaya penanggulangan (mitigasi) risiko                      The Company designs a risk mitigation for every identified risk
      dari setiap risiko yang teridentifikasi sebagai bentuk antisipasi               to anticipate the risk from showing again in the future. Based
      terhadap kemungkinan risiko yang muncul dalam di masa                           on the risk profile earlier, GMF has made several mitigations
      mendatang. Berdasarkan profil risiko yang telah disampaikan                     as follows:
      sebelumnya, GMF telah melakukan mitigasi sebagai berikut:



                                                                       Mitigasi Risiko GMF
                                                                       GMF Risk Mitigation
                         Jenis Risiko                                                             Mitigasi
         No.
                          Risk Type                                                               Mitigation

          1      Risiko Strategis                 •     Melakukan hedging
                 Strategic Risk                   •     Fokus pada efisiensi
                                                  •     Menekan biaya pokok dengan meningkatkan kontrol semua proses, terutama siklus pengeluaran
                                                        untuk menciptakan inovasi baru (emerging) dalam proses bisnis
                                                  •     Melakukan pendekatan ke lessor dalam rangka menangkap peluang RTOP, parking maintenance &
                                                        redelivery
                                                  •     Memperkuat kerja sama dengan OEM/MRO global
                                                  •     Mengembangkan bisnis baru untuk private jet, cargo modification
                                                  •     Memperluas kerja sama untuk bisnis defense industry
                                                  •     Memperluas bisnis non aviasi, berfokus pada existing capability untuk mendukung regional market
                                                        dengan profitabilitas tinggi (B737, A320, A330) menyiapkan tim untuk membuat rencana contingency
                                                  •     Menyiapkan rencana contigency dan disaster recovery plan (business continuity management system)
                                                  •     Pelatihan kesadaran dan keamanan secara berkala
                                                  •     Melakukan pencadangan data dan jaringan secara konsisten
                                                  •   Engage in hedging strategies
                                                  •   Focus on efficiency
                                                  •   Reduce basic costs by improving control of all processes, particularly the expenditure cycle, to foster
                                                      new (emerging) innovations in business processes
                                                  •   Approach lessors to capture RTOP, parking maintenance, and redelivery opportunities
                                                  •   Strengthen cooperation with global OEM/MRO partners
                                                  •   Develop new business avenues for private jets and cargo modification
                                                  •   Expand cooperation in the defense industry sector
                                                  •   Expand non-aviation business, leveraging existing capabilities to support regional markets with high
                                                      profitability (B737, A320, A330)
                                                  •   Prepare the team to create contingency plans
                                                  •   Develop contingency plans and disaster recovery plans (business continuity management system)
                                                  •   Conduct regular awareness and safety training
                                                  •   Perform consistent data and network backups




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                                                                  Mitigasi Risiko GMF
                                                                  GMF Risk Mitigation
                  Jenis Risiko                                                                Mitigasi
  No.
                   Risk Type                                                                  Mitigation

    2      Risiko Keuangan                 •    Melakukan seleksi pelanggan (high liquidity & profitable customer)
           Financial Risk                  •    Memperketat pelaksanaan kontrak yang telah disepakati
                                           •    Meminimalisasi pelanggan status high risk
                                           •    Melakukan langkah-langkah sesuai dengan Vendor Risk GMF: Vendor Critical Operational, Vendor
                                                Critical Legal Somasi, Vendor Critical Legal PKPU,
                                           •    Melakukan restrukturisasi kepada kreditur
                                           •    Meningkatkan kolektibilitas piutang GMF kepada pelanggan agar dapat meningkatkan cash in
                                           •    Memastikan tingkat pendapatan sesuai dengan yang ditargetkan
                                           •    Memanfaatkan kapabilitas dan kapasitas yang telah tersedia melalui kemitraan dengan perusahaan
                                                yang menawarkan produk/jasa sejenis
                                           •    Melakukan pejualan aset yang tidak terutilisasi
                                           •    Melakukan penutupan stasiun OSA yang merugi
                                           •    Select customers based on high liquidity and profitability
                                           •    Tighten the implementation of agreed contracts
                                           •    Minimize engagement with high-risk status customers
                                           •    Take actions according to GMF Vendor Risk Management: addressing Critical Operational Vendors,
                                                Critical Legal Vendor Subpoenas, and PKPU Critical Legal Vendors
                                           •    Restructure creditors
                                           •    Increase the collectibility of GMF receivables from customers to boost cash inflow
                                           •    Ensure revenue levels align with targets
                                           •    Utilize existing capabilities and capacities through partnerships with companies offering similar products/
                                                services
                                           •    Sell unutilized assets
                                           •    Close loss-making OSA stations

    3      Risiko Operasional              •    Menelaah kajian strategi inisiatif secara komprehensif dengan lingkup pekerjaan lebih jelas dan rinci
           Operational Risk                •    Penerapan QCD dilakukan control & monitoring dengan pemberian reward & punishment yang tepat
                                                sesuai aturan Perseroan
                                           •    Melakukan kendali atas seluruh biaya per profitabilitas secara real & actual
                                           •    Review the initiative strategy study comprehensively with a clearer and more detailed scope of work
                                           •    Implement QCD (Quality, Cost, Delivery) through control and monitoring, providing appropriate rewards
                                                and punishments in accordance with Company regulations
                                           •    Control all real and actual costs per profitability


EVALUASI SISTEM MANAJEMEN RISIKO                                                 RISK MANAGEMENT SYSTEM EVALUATION

Sistem manajemen risiko GMF tidak terlepas dari peran                            The risk management system is inseparable from the Enterprise
Enterprise Risk Management (ERM) sebagai penangung jawab                         Risk Management (ERM), as the team in charge of risk
pengelolaan risiko. Penilaian dan evaluasi terhadap kinerja ERM                  management. Assessment and evaluation of ERM performance
pada tahun 2023 telah disampaikan di pembahasan mengenai                         in 2023 are available in the discussion regarding its assessment
penilaian kinerja dan organ pendukung Direksi pada pembahasan                    and the supporting bodies of the Board of Directors in the earlier
sebelumnya.                                                                      discussion.

PANDANGAN DEWAN KOMISARIS DAN                                                    VIEWS FROM THE BOARD OF
DIREKSI                                                                          COMMISSIONERS AND BOARD OF
                                                                                 DIRECTORS
Dewan Komisaris dan Direksi memandang bahwa GMF secara                           The Board of Commissioners and Directors consider tha GMF
aktif menerapkan strategi yang melibatkan pengelolaan risiko                     is actively implementing a strategy that involves managing risk
sebagai bagian integral dari rencana bisnis, mengambil risiko                    as an integral part of the business plan, taking higher risks in
lebih tinggi dalam rangka mencapai pertumbuhan dan inovasi                       order to achieve greater growth and innovation.
yang lebih besar.

Jika diperlukan pengambilan keputusan bisnis, maka                               If business decisions are required, they are based on risk analysis
keputusan tersebut didasarkan pada analisis risiko dan potensi                   and the potential for long-term return on investment and can
pengembalian investasi jangka panjang serta dapat menanggung                     bear a large burden.
beban yang besar.




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      Berdasarkan kategori dan klasifikasi risiko BUMN dan Anak        Based on the risk categories and classifications of SOEs and
      Perusahaan BUMN sebagaimana ketentuan pada Pasal 49              SOE Subsidiaries as stipulated in Article 49 to Article 53 in
      sampai dengan Pasal 53 dalam PER-2/MBU/03/2023, maka             PER-2/MBU/03/2023, GMF is included in Systemic A. SOEs
      GMF termasuk dalam Sistemik A. BUMN dan Anak Perusahaan          and Subsidiaries of Systemic A SOEs outside of HIMBARA SOEs,
      BUMN Sistemik A di luar dari BUMN HIMBARA, wajib menyusun        are required to develop contingency plans.
      rencana darurat (contingency plan).

      RENCANA MANAJEMEN RISIKO 2024                                    RENCANA MANAJEMEN RISIKO 2024

      Dengan mempertimbangkan pencapaian di tahun 2023, juga           Taking into account the achievements in 2023, as well as the
      peraturan Menteri BUMN PER-2/MBU/03/2023, dan profil             regulation of the Minister of SOEs PER-2/MBU/03/2023, and
      risiko pada tahun 2024, maka Perseroan akan tetap melanjutkan    the risk profile in 2024, the Company will continue the activities
      kegiatan yang sudah berjalan pada tahun 2023 dan meningkatkan    that have been running in 2023 and improve the work process.
      proses kerjanya. Adapun program kerja selama ini, antara lain:   The work programmes so far include:
      1. Meningkatkan Risk Maturity GMF                                1. Improving GMF’s Risk Maturity
      2. Peningkatan cara mengendalikan mitigasi risiko di setiap      2. Improving how to control risk mitigation in every line of
           lini usaha                                                     the company
      3. Kolaborasi antar risk owner, risk management, dan audit       3. Collaboration between risk owners, risk management and
           internal untuk penerapan three line of defense                 internal audit to implement the three lines of defence

      Guna mendukung tercapainya program kerja Enterprise Risk         To support the achievement of the Enterprise Risk Management
      Management pada 2024, maka program perbaikan berkelanjutan       work programme in 2024, the continuous improvement
      yang akan dilakukan antara lain:                                 programme includes:
      1. Peningkatan Spec KPI GRC item Risk Management                 1. Increase in Spec KPI GRC of Risk Management items
      2. Peningkatan System Risk Monitoring                            2. Improvement of Risk Monitoring System
      3. Membuat dan menelaah kembali BCM dan BCP sebagai              3. Create and review the Company’s BCM and BCP as an
         langkah antisipasi                                                anticipation step




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                                                            SISTEM PENGENDALIAN INTERNAL
                                                                                                                          Internal Control System


Sistem Pengendalian Internal (SPI) merupakan rangkaian kegiatan                     The Internal Control System (SPI) is a series of systematic
sistematis mulai dari persiapan, proses, dan pelaporan untuk                        activities starting from preparation, processing, and reporting
mengamankan aset milik Perseroan. Sebagai sebuah proses                             to safeguard the Company’s assets. As an integral process,
integral, pengendalian internal dilakukan secara berkelanjutan                      internal control is carried out continuously to give an assurance
untuk memberikan keyakinan penuh akan pencapaian tujuan                             that the Company can achieve its objectives.
Perseroan.

KEBIJAKAN PENGENDALIAN INTERNAL                                                     INTERNAL CONTROL POLICY

Perseroan memiliki surat keputusan KB-01-009 Kebijakan                              The Company has two decrees of KB-01-009 Risk Management
Manajemen Risiko dan KB-01-010 Kebijakan Pengendalian                               Policy and KB-01-010 Internal Control Policy which was issued
Internal yang dicetuskan oleh Direktur Utama sebagai pedoman                        by the President Director as the internal control guideline. These
sistem pengendalian internal. Pedoman tersebut memastikan                           guidelines ensure that the Company’s management activities
kegiatan pengelolaan Perseroan berjalan dengan baik dan                             run approrirately and do not deviate from the prevailing rules
tidak menyimpang dari ketentuan dan peraturan yang berlaku.                         and regulations. The Company adopts the 3 Lines of Defense
Perseroan mengadopsi konsep 3 Lines of Defense dalam                                concept in risk management and internal control as follows:
pengelolaan risiko dan pengendalian internal yang dapat dilihat
dalam kerangka sistem pengendalian internal sebagai berikut:


                                                        Kerangka Sistem Pengendalian Internal
                                                              Internal Control Framework


                                                           *Set the from the top*
                                                           Menetapkan dan mengarahkan sistem internal perusahaan framework manajemen
                          BoD Perform Oversight            risiko
                                                           Determining and directing risk management framework of the corporate internal
                                                           system




                                                           1. Pertahanan lapis ketiga
                                                           2. Melakukan Pengujian yang independen dan objektif untuk memastikan
                                                              efektivitas dan Efisiensi proses bisnis
                                                           3. Menjamin implementasi manajemen risiko berfungsi sesuai desain
                      Unit Pengawasan Internal                mengidentifikasi kemungkinan perbaikan proses
                         Internal Control Unit             1. Third Line of Defense
                                                           2. Conducting independent and objective evaluation to ensure the effectiveness and
                                                              efficiency of business process
                                                           3. Ensuring that risk management implementation is functioning according to the
                                                              design identifying chances of process improvement




                                                            1. Pertahanan Lapis Kedua
                                                            2. Mendesain dan mengembangkan Framework Manajemen Risiko Memfasilitasi
                      Unit Pengawasan Internal                 dan mengevaluasi kepatuhan terhadap peraturan yang berlaku
                         Internal Control Unit              1. Second Line of Defence
                                                            2. Designing and developing Risk Management according to the implemented
                                                               framework and Evaluating compliance with prevailing regulations



                                                            1. Pertahanan Lapis Kedua
                        Manajemen Operasional               2. Mendesain dan mengembangkan Framework Manajemen Risiko Memfasilitasi
                        Operational Management                 dan mengevaluasi kepatuhan terhadap peraturan yang berlaku
                                                            1. Second Line of Defence
                                                            2. Designing and developing Risk Management according to the implemented
                                                               framework and Evaluating compliance with prevailing regulations
                  SBU      Bidang     Unit   Bidang
                  SBU      Division   Unit   Division




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      ADAPTASI PINSIP COSO                                             ADAPTATION OF COSO PRINCIPLES

      Perseroan mengadopsi konsep 3 Lines of Defense dalam             The Company adopts the Committee of Sponsoring Organizations
      pengelolaan risiko dan pengendalian internal yang diambil        of the Treadway Commission’s (COSO) 3 Lines of Defense concept
      dari prinsip Committee of Sponsoring Organizations of the        in risk management and internal control. The working units, as the
      Treadway Commission (COSO). Unit kerja, sebagai Manajemen        Operational Management, play an important role in controlling
      Operasional, berperan penting dalam mengendalikan aktivitas      work activities. With their function as Management Control, the
      kerja di unitnya masing-masing. Internal Audit dan ERM, dengan   Internal Audit and ERM are tasked with managing corporate
      fungsinya sebagai Manajemen Pengendali, bertugas mengelola       risk as a whole that includes assessment and investigation.
      risiko korporat secara keseluruhan yang melakukan berbagai
      aktivitas asesmen dan investigasi.

      PENGENDALIAN INTERNAL UNTUK ASPEK                                INTERNAL CONTROL FOR OPERATIONAL AND
      OPERASI DAN KEUANGAN                                             FINANCIAL ASPECTS

      Manajemen menempatkan individu dalam posisi yang tepat           The Management positioned the individuals in the correct
      sesuai kompetensi. Terdapat sejumlah pedoman kerja yang telah    position according to their competence. There are several
      disusun untuk menjamin adanya standar dalam melaksanakan         guidelines to ensure work standards work. The Company has
      kerja. Perseroan memiliki berbagai unit bisnis yang dibentuk     various business units to carry out their respective functions
      untuk menjalankan fungsinya masing-masing untuk memastikan       to ensure adequate internal control, namely:
      adanya pengendalian internal yang memadai yaitu:
      1. Unit Budget and Control yang bertanggung jawab dalam          1. Budget and Control Unit, responsible for controlling the
         mengontrol realisasi penggunaan anggaran.                        budget and its use.
      2. Unit Security Management yang bertanggung jawab dalam         2. Security Management Unit, responsible for the Company’s
         menjamin keamanan Perseroan.                                     security.
      3. Unit Financial & Management Accounting, Internal Control,     3. Financial & Management Accounting Unit, Internal Control,
         dan Safety Inspection yang bertanggung jawab dalam               and Safety Inspection Units, responsible for designing and
         mendesain dan mengembangkan kerangka manajemen                   developing a risk management framework and controlling
         risiko serta mengontrol implementasinya.                         its implementation.
      4. Unit Quality System & Auditing yang bertanggung jawab         4. Quality System & Auditing Unit, responsible for quality control
         dalam melakukan kontrol kualitas terhadap material dan           on the Company’s materials and products.
         produk Perseroan.
      5. Unit Corporate Legal dan Unit Aircraft Quality Performance    5. The Corporate Legal Unit and the Aircraft Quality Performance
         Monitoring yang bertanggung jawab dalam menjamin                 Monitoring Unit, responsible for ensuring the Company’s
         kepatuhan Perseroan sesuai dengan regulasi yang berlaku          compliance with regulations from the government and
         baik dari pemerintah maupun otoritas penerbangan.                aviation authorities.
      6. Unit Human Capital Management dan Unit Strategic              6. The Human Capital Management Unit and the Strategic
         Management Office yang bertanggung jawab mendesain               Management Office Unit, responsible for designing the
         struktur organisasi.                                             organizational structure.

      Direksi berperan untuk mengarahkan sistem pengendalian           The Board of Directors plays a role to direct the internal control
      internal. Dewan Komisaris bertindak sebagai pengawas untuk       system. The Board of Commissioners acts as a supervisor and
      memastikan jalannya Perseroan dan memberikan arahan serta        gives direction and advice to prevent irregularities. External
      nasihat yang diperlukan untuk mencegah adanya penyimpangan.      parties such as KAP, Aviation Authority Institutions, Quality
      Pihak eksternal seperti KAP, Lembaga Otoritas Penerbangan,       Certification Bodies, and Regulators are all independent parties
      Lembaga Sertifikasi Mutu, dan Regulator menjadi pihak            assessing the Company’s internal control according to their
      independen yang menilai pelaksanaan pengendalian internal        respective fields.
      Perseroan sesuai bidangnya masing-masing.




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EVALUASI PENGENDALIAN INTERNAL                                       INTERNAL CONTROL EVALUATION

Evaluasi terhadap efektivitas pengendalian internal tidak            Evaluation of internal control effectiveness is inseparable
terlepas dari evaluasi terhadap seluruh unit bisnis, terutama        from the evaluation of all business units, especially those
unit-unit yang terkait pengelolaan risiko dan audit internal.        related to risk management and internal audit. Of course, the
Tentunya penilaian terhadap masing-masing unit bisnis tersebut       assessment of each unit is available in the earlier discussion in
dapat dibaca di pembahasan sebelumnya yang ada di Laporan            this Integrated Report. However, in general, the Company already
Terintegrasi ini. Akan tetapi, secara garis besar, Perseroan telah   has an appraisal system for each unit to evaluate overall KPI
memiliki sistem penilaian kinerja masing-masing unit bisnis          achievement. This assessment is one of the bases for assessing
sebagai bentuk evaluasi dari pencapaian KPI Perseroan secara         internal control, which is always monitored periodically.
keseluruhan. Penilaian ini menjadi salah satu dasar evaluasi
pengendalian internal yang selalu dimonitor secara berkala.

PANDANGAN DEWAN KOMISARIS DAN                                        VIEWS FROM THE BOARD OF COMMISSIONERS
DIREKSI                                                              AND BOARD OF DIRECTORS

Perseroan memastikan efektivitas sistem pengendalian internal        The Company ensured the effectiveness of the internal control
dengan melakukan sejumlah audit di mana dapat disimpulkan            system through several audits which can be concluded that the
bahwa sistem pengendalian internal Perusahaan sudah memadai.         Company’s internal control system was adequate. Nevertheless,
Walaupun demikian, Perusahaan memandang perlu adanya                 the Company believes that a continuous improvement effort
perbaikan secara berkelanjutan untuk lebih memaksimalkan             is needed to maximize the internal control according to the
efektivitas pengendalian internal sesuai dengan rekomendasi          recommendations from the audit.
dari hasil audit.

Dewan Komisaris dan Direksi sangat mempedulikan jalannya             The Board of Commissioners and Board of Directors care about
sistem pengendalian internal Perusahaan dan memberikan               the Company’s internal control system and always pay special
perhatian khusus terhadap proses dan hasil audit, serta              attention to the audit process and its results, as well as its
rekomendasinya. Dewan Komisaris memanfaatkan Komite                  recommendation. The Board of Commissioners utilizes the Audit
Audit sebagai organ pendukung yang turut memantau dan                Committee as the supporting body that monitors and cooperates
bekerja sama dengan auditor eksternal (bilamana diperlukan)          with the external auditor (if needed) before the committee
sebelum kemudian memberikan opini yang bersifat independen           provides an independent opinion concerning the audit result.
terhadap hasil audit. Direksi memiliki mekanisme rapat berkala       The Board of Directors has its periodic meeting that discusses
yang salah satunya agendanya senantiasa membahas mengenai            various issues, which among others, including the audit.
proses audit Perusahaan.

Berdasarkan hasil audit terhadap sistem pengendalian internal        Based on the audit result on the internal control system stated
yang telah disampaikan di atas, Dewan Komisaris dan Direksi juga     above, the Board of Commissioners and Board of Directors had
berkesimpulan bahwa sistem pengendalian internal Perusahaan          come to the same conclusion that the internal control system
sudah memadai dan diperlukan upaya terus-menerus untuk               has been adequate and continuous improvement is needed to
memaksimalkan efektivitas pengendalian.                              maximize the control effort.




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      PERKARA PENTING [2-27]
      Important Cases [2-27]


      PERMASALAHAN HUKUM                                                  LEGAL ISSUES

      Permasalahan dan/atau perkara hukum yang dihadapi Perseroan         Legal issues and/or cases that the Company or its Commissioners
      serta anggota Dewan Komisaris dan Direksi sepanjang tahun           or Directors faced in 2023 and 2022 are as follows:
      2023 dan 2022 adalah sebagai berikut:


                                                                                  2023                                  2022
                              Permasalahan Hukum
                                  Legal Issues                          Perdata          Pidana              Perdata             Pidana
                                                                         Civil           Criminal             Civil              Criminal

       GMF

       Selesai dan telah mempunyai kekuatan hukum tetap                  Nihil            Nihil                Nihil               Nihil
       Settled with legally-binding decision                             None             None                 None                None

       Dalam proses penyelesaian                                         Nihil            Nihil                Nihil               Nihil
       Ongoing                                                           None             None                 None                None
                                                                          ‘
       Dewan Komisaris dan Direksi
       Board of Commissioners and Directors

       Selesai dan telah mempunyai kekuatan hukum tetap                  Nihil            Nihil                Nihil               Nihil
       Settled with legally-binding decision                             None             None                 None                None

       Dalam proses penyelesaian                                         Nihil            Nihil                Nihil               Nihil
       Ongoing                                                           None             None                 None                None

       Jumlah                                                            Nihil            Nihil                Nihil               Nihil
       Total                                                             None             None                 None                None


      Dengan demikian, berdasarkan tabel, tidak ada permasalahan          Hence, from the table, there were no ongoing legal cases
      hukum yang dihadapi Perseroan, maupun yang telah selesai            involving the Company or those that have finished in 2023 to
      pada tahun 2023 yang dapat diungkapkan dalam Laporan                be reported in this Integrated Report.
      Terintegrasi ini.

      SANKSI ADMINISTRASI                                                 ADMINISTRATIVE SANCTIONS
      Terdapat 2 (dua) sanksi administratif yang dijatuhkan terhadap      There were 2 (two) administrative sanctions imposed on the
      Perseroan. Tidak terdapat sanksi yang dijatuhkan kepada Direksi     Company. There were no sanctions imposed on the Board of
      maupun Dewan Komisaris.                                             Directors nor the Board of Commissioners.

      PERKARA PENTING DI LUAR ASPEK HUKUM                                 IMPORTANT MATTERS OUTSIDE THE LEGAL
                                                                          ASPECTS
      Sepanjang tahun 2023, Perseroan tidak mendapatkan adanya            Throughout 2023, the Company did not receive any important
      perkara penting di luar aspek hukum yang melibatkan Perseroan       cases outside the legal aspects involving the Company or the
      maupun Dewan Komisaris dan Direksi.                                 Board of Commissioners and the Board of Directors.




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                                    AKSES INFORMASI DAN DATA PERUSAHAAN
                                                                         Access to Information and Company Data




Perseroan memiliki Pedoman Tata Kelola Perusahaan (PTKP)                The Company has Corporate Governance Guidelines (PTKP)
yang mengatur Kebijakan Komunikasi Keluar Perseroan.                    governing the Company’s Exit Communication Policy. This policy
Kebijakan ini mencakup antara lain ketentuan yang mengatur              includes, among other things, the roles and responsibilities of
peran dan tanggung jawab beberapa organ Perseroan (Komisaris            the Company’s bodies (President Commissioner, President
Utama, Direktur Utama, Direktur Keuangan, Investor Relation,            Director, Finance Director, Investor Relations, and Corporate
dan Sekretaris Perusahaan) terkait pengelolaan informasi                Secretary) concerning the Company’s information management.
Perseroan.

PKP juga menjelaskan mengenai informasi yang bersifat                   PKP also explains confidential information (material information).
rahasia (informasi material). Pengelompokan informasi publik            When categorizing public information, the Company refers to
mengacu pada informasi minimal (minimum requirement) yang               the minimum requirements in any communication relationship
dapat diberikan dalam setiap hubungan komunikasi dengan                 with shareholders and other relevant stakeholders. Information
pemegang saham dan pemangku kepentingan terkait lainnya.                or other matters beyond the minimum requirement must be
Pemberian informasi atau hal lain di luar batasan informasi             approved by the Board of Directors, acknowledged by the Board
minimal tersebut, harus mendapatkan persetujuan Direksi dan             of Commissioners.
dengan sepengetahuan Dewan Komisaris.




                                            Saluran Permintaan Informasi Secara Langsung
                                                  Direct Communication/Information Request

                       Kantor Pusat PT GMF AeroAsia Tbk. GD. Management PT GMF AeroAsia Tbk.,
                                   Bandara Internasional Soekarno Hatta, Cengkareng
                                                   Telp. 021 5508717
                                  Email: corporatecommunications@gmf-aeroasia.co.id




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                                                                  Media Informasi Perseroan
                                                                 The Company’s Media Channels
                        Media                                                                    Keterangan
                       Channel                                                                   Description

        Website GMF                               Pengelolaan website GMF diatur dalam Prosedur Bisnis Komunikasi Perusahaan (PB-13-003) tanggal 10
        GMF Website                               Juli 2015 tentang Website Perusahaan.

                                                  Website GMF: www.gmf-aeroasia.co.id yang dapat diakses oleh publik.

                                                  The GMF website is managed based on the Corporate Communication Business Procedure (PB-13-003)
                                                  on July 10, 2015, concerning the Company Website.

                                                  GMF website: www.gmf-aeroasia.co.id accessible for the public.

        Laporan                                   Perseroan memiliki Laporan Terintegrasi yang disampaikan kepada pemegang saham dan regulator. Informasi
        Report                                    ini dapat diakses di website dan dipergunakan dengan semestinya oleh masyarakat dan media massa.
                                                  The Company submits Integrated Report to shareholders and regulators. This information can be accessed
                                                  at the website and used appropriately by the public and the mass media.

        MyHC Share Point                          Portal informasi terintegrasi yang memuat mengenai employee online services, kebijakan dan prosedur
        MyHC Share Point                          bisnis, pelatihan, hingga prosedur dan manual kerja.
                                                  A integrated information portal that contains about online employee services, business policies and
                                                  procedures, training, and work procedures and manuals.

        Buletin Penity                            Penity merupakan buletin bulanan untuk internal yang diterbitkan oleh unit Quality Assurance & Safety
        Penity Bulletin                           yang secara khusus membahas masalah safety dalam industri penerbangan.
                                                  Penity is a monthly internal bulletin issued by the Quality Assurance & Safety unit, specifically addressing
                                                  safety issues in the aviation industry.



      KETERBUKAAN INFORMASI PASAR MODAL DAN                                           INFORMATION TRANSPARENCY ON CAPITAL
      RILIS BERITA                                                                    MARKET AND PRESS RELEASE
      Pada tahun 2023, terdapat 66 (enam puluh enam) surat yang                       In 2023, there were 66 (sixty six) letters reported to the IDX
      dilaporkan ke Bursa dan OJK mengenai berbagai hal yang terkait                  and OJK concerning capital market activities. The Company
      aktivitas pasar modal. Perseroan juga telah merilis 7 (tujuh)                   also issued 7 (seven) news releases to the media concerning
      berita ke berbagai media terkait dengan informasi bisnis GMF                    business information and other matters. Information on releases
      dan hal-hal penting lainnya. Informasi terkait rilis dapat dilihat di           is available in the discussion concerning Corporate Secretary in
      pembahasan mengenai Sekretaris Perusahaan dalam Laporan                         this Integrated Report.
      Tahunan Terintegrasi ini.

      KEGIATAN PUBLIKASI INFORMASI LAINNYA                                            OTHER ACTIVITIES OF INFORMATION
                                                                                      DISCLOSURE
      Seiring dengan situasi yang telah berjalan normal di 2022, Perseroan            As the situation has become normal in 2022, the Company has
      telah melakukan sejumlah kegiatan publikasi informasi. Secara                   organized several activities. In particular, the events in 2022 were
      khusus, kegiatan publikasi tahun 2022 dikhususkan untuk                         focused to establish a relationship with a new customer base
      memperluas relasi dengan basis pelanggan baru dari segmen                       from new business segments that GMF has just launched to
      bisnis baru yang diluncurkan GMF untuk menghadapi tantangan                     face business challenges. The activities include public exposure,
      bisnis. Kegiatan publikasi tersebut mencakup public expose, investor            investor relations, and customer gathering as follows.
      relation, customer gathering sebagai berikut.




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                                                             Aktivitas Publikasi Informasi
                                                            Information Disclosures Events
               Tanggal                          Nama Aktivitas                                   Deskripsi                                 Peserta
                 Date                              Event                                        Explanation                               Participants

 28 Juni 2023                            RUPS                            Ajang komunikasi GMF dengan para pemegang saham.              70 orang | people
 June 28, 2023                           GMS                             Agenda yang dipaparkan di antaranya mencakup
                                                                         pengangkatan Direksi baru, perubahan Anggaran Dasar,
                                                                         dan pembagian dividen.
                                                                         GMF hosted a communication event with shareholders.
                                                                         The agenda included the appointment of new Directors,
                                                                         changes to the Articles of Association, and distribution
                                                                         of dividends.

 22 Juli 2023                            Kunjungan Menteri               Penyampaian apresiasi dan dukungan dari kementerian           30 orang | people
 July 22, 2023                           Perhubungan RI                  kepada dunia aviasi, khususnya MRO.
                                         Visit from the Transportation   Expressing appreciation and support from the ministry
                                         Ministry of Indonesia           to the aviation industry, especially MRO.

 26 Juli 2023                            Pelaksanaan Pengujian           Membuat inovasi dalam rangka meningkatkan kontribusi          120 orang | people
 July 26, 2023                           Statis Bioavtur J2.4 - Solusi   Bioavtur di sektor transportasi udara. Penggunaan
                                         untuk Kurangi Emisi             Bioavtur J2.4 ini diharapkan menjadi solusi untuk
                                         Static Test of Bioavtur         menjaga stabilitas energi dan menurunkan emisi.
                                         J2.4 – Solution to Reduce       Introducing innovations to increase Bioavtur's
                                         Emission                        contribution to the air transportation sector. The use of
                                                                         Bioavtur J2.4 is expected to provide a solution to maintain
                                                                         energy stability and reduce emissions.

 26-28 September 2023                    MRO Asia Pacific 2023           Wadah eksplorasi dan koneksi GMF untuk bekerja sama           18 orang | people
 September 26-28, 2023                                                   dengan lebih banyak pelaku industri aviasi global.
                                                                         Exploring and establishing connections with more global
                                                                         players in the aviation industry through GMF's platform.

 11 Oktober 2023                         Kunjungan Kedubes Kanada        Pengenalan lebih dalam bisnis GMF dan eksplorasi              20 orang | people
 October 11, 2023                        Visit from Canada Embassy       peluang kolaborasi baru dengan GMF.
                                                                         Providing a deeper introduction to GMF's business and
                                                                         exploring new collaboration opportunities.

 27 Oktober 2023                         Partisipasi GMF pada            Memastikan pesawat berada dalam kondisi prima dan             150 orang | people
 October 27, 2023                        Penerbangan Komersial           layak terbang saat melakukan pengecekan menyeluruh
                                         Perdana Menggunakan             sebelum pesawat diterbangkan.
                                         Bioavtur J2.4                   Ensuring aircraft are in prime condition and fit to fly by
                                         GMF’s participation in First    conducting thorough checks before flight.
                                         Commercial Flight to Use
                                         Bioavtur J2.4

 22 Desember 2023                        Kunjungan Kedubes Fiji          Pengenalan lebih dalam bisnis GMF dan eksplorasi              25 orang | people
 December 22, 2023                       Visit from Fiji Embassy         peluang kolaborasi baru dengan GMF.
                                                                         Providing a deeper introduction to GMF's business and
                                                                         exploring new collaboration opportunities.




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                                                                                                                                    Corporate Governance




      KODE ETIK
      Code of Conduct




                              Kode Etik berlaku untuk seluruh insan GMF dari seluruh level organisasi, tanpa
                                                                terkecuali.
                          The Code of Conduct shall be followed by all personnel of GMF from all levels within the organizational structure,
                                                                        without exception.




      Pedoman Perilaku (Code of Conduct/COC) menjadi salah satu                     The Code of Conduct (COC) becomes a method for the Company
      upaya Perseroan dalam menegakan prinsip-prinsip tata kelola                   to uphold the principles of governance for all employees. The
      bagi seluruh insan GMF. Pedoman Perilaku telah disosialisasikan               Code of Conduct has been distributed to all organizational
      ke seluruh tingkatan di dalam Perseroan dan tertulis dalam                    levels and become part of the recruitment contract that all
      kontrak kerja perekrutan karyawan yang harus dipahami dan                     employees must understand and signed. All employees are
      ditandatangani oleh seluruh karyawan. Seluruh karyawan                        expected to behave according to the Company’s core values and
      diharapkan dapat berperilaku sesuai nilai-nilai Perseroan dan                 follow the code of conduct in their daily activities. The Company
      menerapkan kode etik dalam kegiatan sehari-hari. Perseroan                    also organizes periodic events to remind and emphasize the
      secara berkala mengadakan acara untuk mengingatkan dan                        application of a code of conduct among employees.
      menekankan penerapan kode etik bagi para pegawai.

      PENGESAHAN PEDOMAN ETIKA                                                      CODE OF CONDUCT RATIFICATION
      PERUSAHAAN



                          Pedoman Etika Perusahaan telah diunggah di website resmi GMF dan dapat diakses
                                                            oleh publik
                                 The Code of Conduct has been uploaded to the official website of GMF and accessible for the public


                                                                            CLICK HERE




      Pedoman Etika Perusahaan ditetapkan melalui Keputusan                         The Code of Conduct was validated October 24, 2011,
      Direktur Utama tanggal 24 Oktober 2011 No. DT/KEP/5015/2011                   with the issuance of the President Director Decree No. DT/
      tentang Pemberlakukan dan Penerapan Pedoman Perilaku (Code                    KEP/5015/2011 concerning Enforcement and Implementation
      of Conduct). COC telah diperbaharui dan disahkan oleh Direksi dan             of Code of Conduct. COC has been updated and ratified by the
      Dewan Komisaris pada tanggal 18 Agustus 2021. Pelaksanaan                     Board of Directors and the Board of Commissioners on August
      etika perusahaan yang berkesinambungan diharapkan dapat:                      18, 2021. Continuous implementation of corporate conduct is
                                                                                    expected to:
      1. Menjadi landasan bagi seluruh insan GMF dalam mengatur                     1. As the foundation for all personnel in regulating and shaping
         dan membentuk tingkah laku yang bersahaja baik di dalam                        modest behavior both inside and outside the Company.
         maupun di luar Perseroan.
      2. Menciptakan suasana kerja yang sehat dan nyaman dalam                      2. Create a healthy and comfortable work atmosphere in the
         lingkungan Perseroan.                                                         Company’s environment.
      3. Menjadi acuan perilaku bagi karyawan untuk melaksanakan                    3. Become a reference for employees to carry out their duties
         tugas dan tanggung jawab masing masing dan berinteraksi                       and responsibilities and interact with stakeholders.
         dengan pemangku kepentingan.
      4. Sebagai pedoman yang mengatur, mengawasi sekaligus                         4. As a guideline that regulates, supervises, and prevents abuse
         mencegah penyalahgunaan wewenang dan jabatan setiap                           of authority and position of each employee.
         karyawan.


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POKOK-POKOK ISI KODE ETIK                                          OUTLINE OF CODE OF CONDUCT

Secara umum muatan Kode Etik yang dimiliki GMF memuat              In general, the Code of Conduct of GMF contains the following
pokok-pokok isi sebagai berikut:                                   main points:

1. Komitmen Dewan Komisaris dan Direksi                            1. Commitment of the Board of Commissiones and Board of
                                                                      Directors
2. Nilai-nilai Inti GMF (Core Values)                              2. GMF Core Values
3. Etika Bisnis                                                    3. Business Ethics
   a. Kepatuhan terhadap peraturan perundangan                        a. Compliance with laws and regulations
   b. Penerimaan hadiah, suap dan gratifikasi                         b. Acceptance of gifts, bribes, and gratifications
   c. Kepedulian terhadap kesehatan, keselamatan dan                  c. Concern for health, safety and the work environment
        lingkungan kerja
   d. Komitmen Perusahaan kepada Stakeholders                         d. Company Commitments to Stakeholders
4. Etika Kerja                                                     4. Work Ethics
   a. Komitmen Insan GMF di dalam dan di luar Perseroan               a. Commitments of GMF employees inside and outside
                                                                          the Company
    b. Komitmen sebagai Atasan                                        b. Commitment as a Superior
    c. Komitmen sebagai Bawahan                                        c. Commitment as a Subordinate
    d. Komitmen terhadap Implementasi Safety & Quality Policy         d. Commitment to implement Safety & Quality Policy
    e. Komitmen terhadap Kerahasiaan Data dan Informasi               e. Commitment to the Secrecy of Company’s Data and
       Perseroan                                                          Information
    f. Komitmen terhadap Perlindungan Hak Atas Kekayaan                f. Commitment on the Protection of Rights on Intellectual
       Intelektual dan Intangible Assets                                  Property and Intangible Assets
   g. Komitmen terhadap Aset Perseroan                                g. Commitment to Company assets
   h. Menjaga Rahasia Perseroan dan Perilaku Insiders                 h. Commitment on Company Secrets and Insiders Behaviour
    i. Komitmen terhadap Benturan Kepentingan                          i. Commitment to conflicts of interest
    j. Komitmen terhadap Kegiatan Politik                              j. Commitment to political activities
   k. Perilaku Asusila, Narkoba, Obat Terlarang, Perjudian            k. Immoral behavior, drugs, illegal drugs, gambling and
       dan Merokok                                                        smoking
    l. Komitmen terhadap Keberagaman                                   l. Commitment to Diversity
   m. Komitmen terhadap Corporate Social Responsibility               m. Commitment to Corporate Social Responsibility
   n. Penggunaan Media Sosial                                         n. Social Media Use
5. Penerapan dan Penegakan                                         5. Implementation and Enforcement

SOSIALISASI PEDOMAN ETIKA DAN PERILAKU                             SOCIALIZATION OF CODE OF CONDUCT

Sosialisasi COC pada tahun 2023 merupakan upaya berkelanjutan      The COC socialization in 2023 was an ongoing effort that is
yang relatif sama dengan upaya sosialisasi di tahun-tahun          relatively the same as the socialization efforts in previous
sebelumnya. Perseroan menilai bahwa upaya ini patut untuk          years. The Company believes that it needs to be continued
dilanjutkan karena dinilai efektif untuk menegakan pedoman         since it effectively enforced ethical and behavioral attitudes
etika dan perilaku yang berlaku bagi seluruh karyawan. Upaya       to all employees. Socialization involves all employees at all
sosialisasi melibatkan segenap karyawan di seluruh jenjang         organizational levels at the Head Office and Representative
organisasi di Kantor Pusat dan Kantor Perwakilan. Sosialisasi      Offices. CoC socialization is also carried out through the
CoC juga dilakukan melalui website korporat yang dapat diakses     corporate website that internal and external parties can access.
oleh pihak internal maupun eksternal. Sosialisasi juga dilakukan   Socialization was also carried out through training of new
melalui pelatihan karyawan baru dan pejabat struktural serta       employees and structural officers, and other internal GMF media.
media internal GMF lainnya.




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      PENANDATANGANAN PAKTA INTEGRITAS                                    SIGNING OF THE INTEGRITY PACT

      Perseroan mewajibkan setiap karyawan dan manajemen untuk            The Company requires employees and the management to
      menandatangani Pakta Integritas mengenai kepatuhan terhadap         sign an Integrity Pact in compliance with the Code of Ethics
      Kode Etik dan Perilaku. Seluruh anggota Direksi juga diwajibkan     and Conduct. All members of the Board of Directors are also
      untuk menandatangani Pakta Integritas Tahunan sebagai               required to sign the Annual Integrity Pact as evidence that the
      bukti bahwa Direksi tidak terlibat dalam perbuatan-perbuatan        Board of Directors is not involved in any action or relationship
      ataupun hubungan yang berpotensi menimbulkan benturan               that can create conflicts of interest and always comply with
      kepentingan dan senantiasa mematuhi COC. Seluruh anggota            the COC. All serving members of the Board of Directors in 2023
      Direksi yang menjabat pada tahun 2023 telah menandatangani          have signed the integrity pact.
      pakta integritas.

      SANKSI PELANGGARAN KODE ETIK                                        SANCTION FOR VIOLATING CODE OF
                                                                          CONDUCT

      Terdapat sanksi bagi setiap insan GMF yang melanggar kode           There is a sanction for all personnel of GMF if they broke a
      etik, yang dikategorikan ke dalam 3 (tiga) jenis sebagai berikut:   code of conduct, which can be categorized into the following
                                                                          3 (three) types:
      1. Sanksi Ringan, berupa Surat Peringatan Tertulis;                 1. Light Sanction, through a Written Warning;
      2. Sanksi Sedang, berupa penurunan Base Salary sebesar              2. Moderate Sanctions, reducing 12% of the Basic Salary for
         5-10% selama 4 (empat) bulan atau pembebasan dari Jabatan            4 (four) months or release from structural positions for 6
         Struktural selama 6 (enam) bulan;                                    (six) months;
      3. Sanksi Berat, berupa Penurunan Base Salary sebesar 10%           3. Severe Sanctions, in reducing 12% of the Basic Salary for 12
         selama 12 (dua belas) bulan atau pembebasan dari Jabatan             (twelve) months or release from structural positions for 3
         Struktural selama 3 (tiga) tahun atau Pemutusan Hubungan             (three) years or termination of employment.
         Kerja (PHK).

      PELANGGARAN KODE ETIK                                               VIOLATION ON CODE OF CONDUCT

      GMF memiliki Fungsi Compliance Officer yang bertugas                GMF has a Compliance Officer Function to follow up on any
      menindaklanjuti laporan mengenai adanya indikasi pelanggaran        indication of COC violation. Every report will be reviewed and
      COC. Setiap laporan akan dikaji dan disampaikan kepada Direksi      submitted to Directors, who will then decide on the sanctions
      yang akan memutuskan sanksi yang berlaku sesuai dengan              according to the provision in the Working Agreement. By
      ketentuan dalam Perjanjian Kerja Bersama (PKB). Sampai dengan       December 31, 2023, there were violations of the COC within GMF,
      31 Desember 2023 terdapat pelanggaran terhadap COC dalam            namely light category violations as many as 5 (five), medium
      lingkungan GMF, yaitu pelanggaran kategori ringan sebanyak 5        category violations as many as 17 (seventeen), serious category
      (lima), pelanggaran kategori sedang sebanyak 17 (tujuh belas),      violations as many as 11 (eleven). All these violations have been
      pelanggaran kategori berat sebanyak 11 (sebelas). Semua             subject to appropriate sanctions.
      pelanggaran tersebut telah dikenakan sanksi sebagaimana
      mestinya.




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                        KEBIJAKAN ANTI KORUPSI DAN PENGENDALIAN
                                                      GRATIFIKASI
                                                                                  Anti-Corruption and Gratuities Control



                Pengendalian Gratifikasi telah diunggah di website resmi GMF dan dapat diakses oleh
                                                       publik
                      The Control of Gratuities has been uploaded to the official website of GMF and accessible for the public


                                                                   CLICK HERE




Dalam rangka menciptakan praktik bisnis yang bersih dan                     In creating a clean business practice, free from any fraud
terhindar dari segala bentuk kecurangan (fraud) serta memenuhi              activities according to prevailing regulations in Indonesia, the
seluruh aspek regulasi yang berlaku di Indonesia, Perseroan                 Company owns and has implemented a policy of gratuities
memiliki dan menerapkan kebijakan pengendalian gratifikasi.                 control. The Company constantly reminds all of its personnels
Himbauan kepada seluruh insan Perseroan untuk tidak menerima                to refuse gratification and prohibit any corruption act, which all
gratifikasi dan melakukan tindakan korupsi tertuang dalam                   can be found in the President Director’s Decree No. DT/KEP-
Keputusan Direktur Utama No. DT/KEP-5002/16 tanggal 27 Juni                 5002/16 on June 27, 2016, concerning Gratuities Control at PT
2016 tentang Pengendalian Gratifikasi di Lingkungan PT Garuda               Garuda Maintenance Facility Aero Asia Tbk, which was updated
Maintenance Facility Aero Asia Tbk yang telah dimutakhirkan                 with the President Director’s Decree No. DT/SKEP-5018/20 on
sesuai dengan Surat Keputusan Direktur Utama No. DT/SKEP-                   October 9, 2020, concerning Gratuities Control at PT Garuda
5018/20 tanggal 9 Oktober 2020 tentang Pengendalian                         Maintenance Facility Aero Asia Tbk.
Gratifikasi di Lingkungan PT Garuda Maintenance Facility Aero
Asia Tbk.

Perseroan berkomitmen untuk menciptakan iklim usaha yang                    The Company is committed in creating a healthy business
sehat, menghindari tindakan, perilaku ataupun perbuatan-                    climate, evading action or behavior that might cause a conflict
perbuatan yang dapat menimbulkan konflik kepentingan, Korupsi,              of interest, corruption, collusion, and nepotism. The Company
Kolusi dan Nepotisme (KKN). Perseroan selalu mengutamakan                   always puts its interest above any interest, be it personal,
kepentingan perusahaan di atas kepentingan pribadi, keluarga,               family, group, or class. The Company also pays attention to the
kelompok ataupun golongan. Perseroan juga senantiasa                        policy concerning anti-corruption such as Law No. 20 of 2001
memperhatikan kebijakan tentang anti korupsi seperti yang                   concerning the Amendment on Law No. 31 of 1999 concerning
tertulis dalam Undang-Undang No. 20 Tahun 2001 tentang                      Eradication of Corruption Act. [205-1]
Perubahan atas Undang-Undang No. 31 Tahun 1999 tentang
Pemberantasan Tindak Pidana Korupsi. [205-1]

Pengelolaan pelaporan dan tindak lanjut atas korupsi dan                    The management and follow-up on the corruption and
gratifikasi ini dilakukan oleh Compliance Officer, yakni Fungsi             gratification is conducted by the Compliance Officer from Legal
Legal & Corporate Governance.                                               & Corporate Governance function.

Sepanjang tahun 2023, terdapat 2 (dua) laporan gratifikasi yang             Throughout 2023, there were 2 (two) reports of gratification
dilaporkan karyawan diantaranya 1 (satu) laporan gratifikasi                reported by employees, including 1 (one) report of gratification in
berupa uang dan 1 (satu) laporan gratifikasi berupa barang.                 the form of money and 1 (one) report of gratification in the form
Laporan ini menurun dari 9 (sembilan) laporan gratifikasi yang              of goods. This report is a decrease from the 9 (nine) gratification
diterima pada tahun 2022.                                                   reports received in 2022.




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      KOMUNIKASI DAN PELATIHAN TENTANG                                  COMMUNICATION AND TRAINING
      KEBIJAKAN & PROSEDUR ANTI KORUPSI                                 REGARDING ANTI-CORRUPTION POLICY &
      [205-2]                                                           PROCEDURE [205-2]

      Perseroan memiliki kebijakan untuk melarang keterlibatan          The Company has a policy of prohibiting individual involvement,
      individu, atas nama GMF, dalam kegiatan politik, termasuk         on behalf of GMF, in political activities, including making
      memberikan donasi untuk kepentingan politik. Secara tegas,        donations for political purposes. Strictly speaking, the Company
      Perseroan tidak mengizinkan insan GMF menggunakan fasilitas       does not allow GMF personnel to use the Company’s facilities
      atau sumber daya milik Perseroan untuk tujuan kampanye politik,   or resources for political campaign purposes, raising political
      penggalangan dana politik maupun untuk tujuan partisipasi         funds or for political participation purposes. This confirmation
      politik. Penegasan ini sesuai dengan yang telah diatur dalam      is in accordance with what is regulated in the Company’s Code
      Pedoman Etika dan Perilaku Perseroan.                             of Ethics and Conduct.

      Komitmen Perseroan terhadap pencegahan korupsi dan fraud          The Company’s commitment to preventing corruption and fraud,
      salah satunya dibuktkan tidak ditemukan insiden korupsi yang      one of which is evident through the fact that there were no
      berdampak sginifikan terhadap reputasi dan kinerja Perseroan      incidents of corruption with significant impact on the Company’s
      sepanjang tahun 2023. [205-3]                                     reputation and performance throughout 2023. [205-3]




      INFORMASI PEMBERIAN DANA UNTUK KEGIATAN
      POLITIK
      Information on Funding for Political Activities
      Perseroan memiliki kebijakan untuk melarang keterlibatan          The Company has a policy to prohibit individual involvement, on
      individu, atas nama GMF, dalam kegiatan politik, termasuk         behalf of GMF, in political activities, including making donations
      memberikan donasi untuk kepentingan politik. Secara tegas,        for political purposes. Strictly speaking, the Company does not
      Perseroan tidak mengizinkan insan GMF menggunakan fasilitas       allow GMF personnel to use the Company’s facilities or resources
      atau sumber daya milik Perseroan untuk tujuan kampanye politik,   for the purpose of political campaigns, political fundraising or
      penggalangan dana politik maupun untuk tujuan partisipasi         for the purpose of political participation. This affirmation is in
      politik. Penegasan ini sesuai dengan yang telah diatur dalam      accordance with what has been regulated in the Company’s
      Pedoman Etika dan Perilaku Perseroan.                             Code of Ethics and Conduct.




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LAPORAN HARTA KEKAYAAN PENYELENGGARA NEGARA
                                     (LHKPN)
                                                                      State Officers’ Asset Reports (LHKPN)




PRINSIP DASAR                                                   BASIC PRINCIPLES

Sebagai anak usaha dari BUMN yang dimiliki oleh Negara          As the subsidiary of SOE, owned by the State through the
melalui Pemerintah Indonesia, Perseroan berkewajiban untuk      Indonesian Government, the Company is obligated to submit
menyampaikan Laporan Harta Kekayaan Penyelenggara Negara        the State Officer’s Asset Report (LHKPN). The report is submitted
(LHKPN). Pelaporan dituangkan dalam formulir LHKPN yang         through the LHKPN form regulated by the Commission of
ditetapkan oleh Komisi Pemberantasan Korupsi (KPK) dalam        Corruption Eradication (KPK) in the Decree of KPK No. KEP 07/
Keputusan KPK No. KEP 07/KPK/02/2005 tentang Tata Cara          KPK/02/2005 concerning Registration Procedure, Inspection,
Pendaftaran, Pemeriksaan dan Pengumuman Laporan Harta           and Announcement of the State Officer’s Asset Report, which
Kekayaan Penyelenggara Negara. Para wajib lapor LHKPN           is accustomed to Law No. 28 of 1999 chapter 2 (7) and its
disesuaikan dengan Undang-Undang No. 28 Tahun 1999 pasal 2      explanation. The Law states that the strategic officers related
(7) beserta penjelasannya. Dalam UU tersebut diuraikan bahwa    with state officials including Board of Commissioners, Board of
pejabat yang memiliki fungsi strategis dalam kaitannya dengan   Directors, and structural officers of SOE or ROE are obligated
penyelenggara negara termasuk Dewan Komisaris, Direksi,         to submit LHKPN report.
dan pejabat struktural lainnya pada BUMN dan BUMD adalah
merupakan wajib lapor LHKPN.

PELAPORAN LHKPN                                                 LHKPN REPORTING

Sesuai dengan Peraturan KPK Nomor 7 Tahun 2016, para pejabat    In accordance with KPK Regulation No. 7/2016, the Company’s
wajib lapor Perseroan menyampaikan laporan melalui aplikasi     mandatory reporting officials submit reports through the LHKPN
LHKPN secara elektronik untuk selanjutnya dipublikasikan oleh   application electronically to be published by the KPK. In 2023,
KPK. Pada tahun 2023, seluruh Direksi GMF telah menyampaikan    all GMF Directors have submitted LHKPN reporting. Thus the
pelaporan LHKPN. Dengan demikian persentase pelaporan           percentage of the Company’s LHKPN reporting in 2023 is 100%.
LHKPN Perseroan tahun 2023 adalah 100%.




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      KEBIJAKAN PENGADAAN BARANG DAN JASA                                         PROCUREMENT POLICY




                      Kebijakan Pengadaan Barang dan Jasa telah diunggah di website resmi GMF dan dapat
                                                     diakses oleh publik
                             The Procurement Policy has been uploaded to the official website of GMF and accessible for the public


                                                                         CLICK HERE




      Proses pengadaan barang dan jasa Perseroan mengacu                          The Company’s goods and services procurement refers to
      pada kebijakan mengenai Pengadaan Barang dan Jasa sesuai                    the Goods and Services Procurement policy according to the
      Keputusan Direktur Utama melalui KB-01-015 yang disahkan                    President Director’s Decree of KB-01-015, which was validated
      pada tanggal 26 September 2013 sebagai Pedoman Pengadaan                    on September 26, 2013, and treats as a guideline ever since.
      Barang dan Jasa. Revisi terakhir (Edisi D Revisi 0) dilakukan pada          The latest revision (Edition, Revision 0) was on July 12, 2023, as
      tanggal 12 Juli 2023 sebagai upaya penyesuaian perkembangan                 an adjustment to the Company’s organizational development.
      organisasi Perseroan.

      GMF berupaya mewujudkan kegiatan pengadaan yang efisien,                    GMF tries to create an efficient, effective, competitive,
      efektif, kompetitif, transparan, adil, wajar, terbuka dan akuntabel,        transparent, fair, open, and accountable procurement activity
      dengan melakukan hal-hal sebagai berikut:                                   through the followings:
      1. Senantiasa tunduk dan patuh terhadap regulasi internal                   1. Follows and complies with the internal and external
         maupun eksternal;                                                           regulations;
      2. Berpedoman terhadap Budaya Perseroan dan Code of                         2. Use the Corporate Culture and Code of Conduct as guidelines;
         Conduct;
      3. Menggunakan sistem teknologi informasi.                                  3. Utilize the information technology system.

      METODE PENGADAAN BARANG DAN JASA                                            PROCUREMENT METHOD

      Pengadaan barang dan jasa yang dilakukan oleh GMF                           The goods and services procurement by GMF is categorized
      dikategorikan ke dalam beberapa metode sebagai berikut:                     into several methods as follows:




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                       Dilaksanakan untuk pengadaan barang dan/atau jasa non              Applied for the non-specific goods and/or services
  Tender/Seleksi
                       spesifik dan dilaksanakan bilamana memenuhi kondisi dengan         procurement and if it meets the conditions with a PO/Annual
      Umum
                       nilai PO/Annual Value kontrak di atas USD2.000.000,00 (dua         Value contract above USD2,000,000.00 (two million United
  Tender/General
                       juta dollar Amerika Serikat) atau setara dengan nilai tukar mata   States dollars) or equivalent to the exchange rate of other
     Selection
                       uang lain pada saat transaksi.                                     currencies at the time of the transaction.

                       Penunjukan langsung adalah pengadaan yang dilaksanakan             A direct appointment is a procurement carried out by directly
                       dengan menunjuk langsung 1 (satu) penyedia barang dan jasa         appointing 1 (one) provider of goods and services or through
                       atau penunjukan melalui beauty contest. Metode pengadaan           a beauty contest. This method is carried out if the goods and
                       barang dan jasa ini dilakukan dengan ketentuan barang              services are in accordance with the business sector of the
                       dan jasa yang dibutuhkan merupakan produk atau layanan             providers and possible by sectoral regulations.
                       sesuai dengan bidang usaha dari penyedia barang dan jasa
                       bersangkutan dan dimungkinkan dalam peraturan sektoral.
                                                                                          A direct appointment is feasible only when one of the
                       Penunjukan langsung dilaksanakan bilamana memenuhi salah           conditions below is met:
                       satu kondisi dibawah ini:                                          • Goods and services are required to support the company's
                       • Barang dan jasa yang dibutuhkan bagi kinerja utama                  core performance and cannot be delayed (business-critical
                          perusahaan dan tidak dapat ditunda keberadaannya                   assets).
                          (business critical asset).                                      • There is only one provider of goods and services who can
                       • Hanya terdapat satu Penyedia barang dan jasa yang dapat             work according to user requirements or according to the
                          melaksanakan pekerjaan sesuai kebutuhan pengguna (user             applicable laws and regulations.
                          requirement) atau sesuai dengan ketentuan peraturan
                          perundangan yang berlaku.                                       •   Goods and services that are knowledge-intensive require
                       • Barang dan jasa yang bersifat knowledge intensive dimana             these products to be used and maintained continuously
                          untuk menggunakan dan memelihara produk tersebut                    using the providers' knowledge.
                          membutuhkan kelangsungan pengetahuan dari penyedia
                          barang dan jasa.                                                •   If the procurement of goods and services uses the tender/
                       • Bila pelaksanaan pengadaan barang danjasa dengan                     general selection method or limited tender/limited
                          menggunakan metode tender/seleksi umum atau tender                  selection has been carried out 2 (two) times and fail to
                          terbatas/seleksi terbatas telah 2 (dua) kali dilakukan              obtain the required goods and services or no vendors able
   Penunjukan             dan tidak mendapatkan Penyedia barang dan jasa yang                 to meet the criteria or no vendors show up to participate
    Langsung              dibutuhkan atau tidak ada pihak yang memenuhi kriteria              in the selection process.
      Direct              atau tidak ada pihak yang mengikuti tender/seleksi.             •   Goods and services owned by holders of intellectual
   Appointment         • Barang dan jasa yang dimiliki oleh pemegang hak atas                 property rights (IPR) or which have a warranty from an
                          kekayaan intelektual (HAKI) atau yang memiliki jaminan              Original Equipment Manufacture (OEM).
                          (warranty) dari Original Equipment Manufacture (OEM).           •   Emergency handling for security, community safety and
                       • Penanganan darurat untuk keamanan, keselamatan                       company’s strategic assets.
                          masyarakat dan aset strategis perusahaan.                       •   Goods and services are categorized as repeat orders for
                       • Barang dan jasa merupakan pembelian berulang (repeat                 as long as the price is profitable without sacrificing the
                          order) sepanjang harga yang ditawarkan menguntungkan                quality of goods and services.
                          dengan tidak mengorbankan kualitas barang dan jasa.             •   Emergency handling due to natural disasters, both local
                       • Penanganan darurat akibat bencana alam, baik yang                    and national (force majeure).
                          bersifat lokal maupun nasional (force majeure).                 •   Advanced goods and services that considered a unit of
                       • Barang dan jasa lanjutan yang secara teknis merupakan                one entity (insperable) from the previous work.
                          satu kesatuan yang sifatnya tidak dapat dipecah-pecah
                          dari pekerjaan yang sudah dilaksanakan sebelumnya.              •   Providers of goods and services are SOE, Subsidiaries, or
                       • Penyedia barang dan jasa adalah BUMN, Anak perusahaan                Affiliated Companies of SOE, as long as the quality, price,
                          atau Perusahaan Terafiliasi BUMN, sepanjang kualitas,               and purpose can be accounted for and the goods and
                          harga, dan tujuannya dapat dipertanggungjawabkan dan                services are in line with the provider’s business.
                          barang dan jasa yang dibutuhkan merupakan produk atau
                          layanan sesuai dengan bidang usaha dari Penyedia barang
                          dan jasa bersangkutan.                                          •   Procurement of goods and services in a certain amount
                       • Pengadaan barang dan jasa dalam jumlah dan nilai                     and value as determined by the Board of Directors with
                          tertentu yang ditetapkan Direksi dengan terlebih dahulu             prior approval from the Board of Commissioners.
                          mendapatkan persetujuan Dewan Komisaris.                        •   Consultants who have not planned in advance to face
                       • Konsultan yang tidak direncanakan sebelumnya untuk                   certain problems that the nature of the work must be
                          menghadapi permasalahan tertentu yang sifat pelaksanaan             immediate and cannot be postponed.
                          pekerjaannya harus segera dan tidak dapat ditunda.

                       •   Tender Terbatas/Seleksi Terbatas adalah pelaksanaan            •   Limited Tender/Limited Selection is the procurement of
                           peengadaan barang dan jasa yang dilakukan dengan                   goods and services from at least 2 (two) participants.
                           menawarkan sekurang-kurangnya 2 (dua) peserta penyedia
                           barang dan jasa.
      Tender
                       •   Tender Terbatas/Seleksi Terbatas dilaksanakan bilamana         •   Limited Tender/Limited Selection is carried out if it meets
     Terbatas/
                           memenuhi salah satu kondisi dibawah:                               one of the conditions below:
      Seleksi
                           a. Pengadaan barang dan jasa umum (barang dan/atau                 a. Procurement of general goods and services (non-
     Terbatas
                               jasa non spesifik) yang nilai PO/Annual Value kontrak              specific goods and/or services) with a PO/Annual Value
  Limited Tender/
                               sampai dengan USD2.000.000,00 (dua juta dollar                     up to USD2,000,000.00 (two million United States
     Selection
                               Amerika Serikat) atau setara dengan nilai tukar mata               dollars) or equivalent to the exchange rate of other
                               uang lain pada saat transaksi.                                     currencies at the time of the transaction.
                           b. Pengadaan barang dan jasa yang termasuk dalam                   b. Procurement of goods and services that fall into a
                               kategori barang spesifik.                                          specific category of goods.




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          Pengadaan           Pembelian terhadap barang yang terdapat di pasar, dengan      Purchase of goods available at the market will make the value
           Langsung           demikian nilainya berdasarkan harga pasar, termasuk           determined based on the market, including E-Purchasing.
        Direct Purchase       E-Purchasing.



                                                                   Alur Pengadaan Barang dan Jasa
                                                                           Procurement Flow

                                                        Evaluasi oleh unit                   Pembentukan
               Tahap Pertama                            pengadaan terkait                   tim pengadaan                          Proses pengadaan
                 First Stage                    Evaluation by related procurement            Establishment                        Procurement process
                                                               unit                         of procurement


          • Aircraft Paris                            Pemilihan metode                 Pemilihan metode                       •    Lol
          • Non Aircraft Paris                        pengadaan                        pengadaan                              •    RFP
                                                      Selection of procurement         Selection of procurement               •    Proposal submission
                                                      method                           method                                 •    Proposal evaluation
                                                                                                                              •    Due diligence
                                                                                                                              •    Negotiation
                                                                                                                              •    Winner announcement
                                                                                                                              •    Agreement signing




      PROGRAM BAGI PEMASOK                                                          PROGRAM FOR SUPPLIERS
      Perseroan menjaga hubungan yang harmonis dengan para                          The Company maintains a harmonious relationship with suppliers
      pemasok melalui penyediaan fasilitas Kawasan Berikat dan                      through Bonded Facility, which will then be changed to Bonded
      selanjutnya diubah menjadi Pusat Logistik Berikat. Upaya ini                  Logistics Center. Hopefully, the suppliers will find this facility
      diharapkan memberi kemudahan bagi para pemasok untuk                          useful to make them easier in conducting export and import.
      melakukan proses ekspor dan impor.

      Perseroan juga memiliki program survei untuk mengetahui                       The Company also has a survey to calculate the performance level
      tingkat kinerja pemasok yang diadakan secara konsisten setiap                 of suppliers each year. In 2023, GMF conducted annual Vendor
      tahunnya. Pada tahun 2023, GMF telah mengadakan survei                        Performance Evaluation. The survey is done on suppliers/priority
      kinerja pemasok tahunan yaitu melalui “Vendor Performance                     vendors under cooperation agreement and retail transaction.
      Evaluation”. Survei dilakukan terhadap pemasok/priority vendor                Hopefully, the suppliers can maintain and improve their services
      baik yang memiliki kontrak kerja sama maupun transaksi retail.                according to the mutual agreement.
      Harapannya adalah pemasok dapat menjaga dan meningkatkan
      layanan sesuai dengan perjanjian yang telah disepakati bersama.

      Survei dilakukan kepada 114 vendor dengan mengukur Quality,                   The survey was conducted to 114 vendors by measuring Quality,
      Lead Time, dan Service. Skor tertinggi mencapai 3.81 dari skala 4,            Lead Time, and Service. The highest score reached 3.81 out of a
      sedangkan terendah yaitu 1.85 dari skala 4. Dari hasil penilaian              scale of 4, while the lowest was 1.85 out of a scale of 4. From
      tersebut, GMF melakukan monitoring terhadap pemasok/vendor                    the assessment results, GMF monitors suppliers/vendors with
      dengan skor <2.50.                                                            a score of <2.50.

      AUDIT PENGADAAN BARANG DAN JASA                                               PROCUREMENT AUDIT

      GMF juga memiliki audit tahunan terkait pengadaan barang                      GMF also has an annual audit related to the procurement of
      dan jasa yang telah dilakukan pada tahun 2023 yaitu Audit                     goods and services that has been carried out in 2023, namely
      Pengadaan Barang dan Jasa Umum. Hasil dari audit tersebut                     the General Goods and Services Procurement Audit. The result
      adalah perlunya peningkatan proses bisnis pengadaan agar                      of the audit is the need to improve the procurement business
      dapat lebih efisien, efektif serta ekonomis.                                  process to be more efficient, effective and economical.




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                                                                                                                                                       359



                               WHISTLEBLOWING SYSTEM [2-16, 2-25, 2-26]
                                                                              Whistleblowing System [2-16, 2-25, 2-26]


KEBIJAKAN                                                                  POLICY




                   Kebijakan Whistleblowing System telah diunggah di website resmi GMF dan dapat
                                                 diakses oleh publik
                     The Whistleblowing System has been uploaded to the official website of GMF and accessible for the public


                                                                   CLICK HERE




Sebagai upaya mendorong pendeteksian secara dini atas setiap               To encourage early detection of fraud, GMF owns a policy
tindakan penyimpangan, GMF telah memiliki kebijakan yang                   regulating the Whistleblowing System (WBS). The WBS
mengatur tentang Whistleblowing System (WBS). Pengelolaan                  management refers to the Business Policy KB-01-017
WBS Perseroan mengacu pada Kebijakan Bisnis KB-01-017                      concerning the Whistleblowing Policy and the PB-13-010
Kebijakan Pengelolaan Sistem Pelaporan Pelanggaran yang                    Business Procedure concerning Whistleblowing System, which
disahkan pada tanggal 6 Agustus 2020 dan Prosedur Bisnis PB-               all were validated on August 6, 2020. As part of building the
13-010 Pengelolaan Sistem Pelanggaran yang disahkan pada                   Fraud Control System (FCS), the preparation of WBS policies
tanggal 6 Agustus 2020. Sebagai bagian dalam membangun                     has the objectives of:
Fraud Control System (FCS), penyusunan kebijakan WBS memiliki
tujuan:
1. Sebagai wadah dan panduan untuk penerimaan pelaporan                    1. As a forum and guide for receiving reports on various alleged
    dari berbagai dugaan pelanggaran hukum dan peraturan                      violations of the Company’s laws and regulations, conflicts
    Perseroan, benturan kepentingan, kecurangan, korupsi, suap                of interest, fraud, corruption, bribery and theft that occur
    serta pencurian yang terjadi di lingkungan kerja Perseroan;               in the Company’s work environment;
2. Membangun sistem penanganan pengaduan yang tanggap,                     2. Building a complaint handling system that is responsive,
    transparan, aman dan bertanggung jawab;                                   transparent, safe and responsible;
3. Memberi pemahaman yang sama tentang fungsi, peran                       3. Providing the same understanding of the functions, roles and
    dan proses-proses Sistem Pelaporan Pelanggaran serta                      processes of the Violation Reporting System and ensuring the
    menjamin kesinambungan sistem manajemen meskipun                          sustainability of the management system despite changes
    terjadi perubahan organisasi dan rotasi sumber daya manusia               in organization and rotation of human resources by creating
    dengan menciptakan budaya GCG;                                            a culture of Good Corporate Governance;
4. Menyediakan cara penyampaian yang efektif untuk informasi               4. Providing an effective way to deliver important and critical
    penting dan kritis bagi Perseroan kepada pihak yang harus                 information for the Company to those who must handle it
    segera menanganinya secara aman;                                          safely;
5. Menciptakan keengganan untuk melakukan pelanggaran,                     5. Creating reluctance to commit violations, with increasing
    dengan semakin meningkatnya kesediaan untuk melaporkan                    willingness to report violations, and trust in an effective
    terjadinya pelanggaran, dan kepercayaan terhadap Sistem                   Violation Reporting System;
    Pelaporan Pelanggaran yang efektif;
6. Menyediakan mekanisme deteksi dini (early warning system)               6. Provide an early detection mechanism (early warning system)
    atas kemungkinan terjadinya suatu pelanggaran;                            of the possibility of a violation;
7. Menyediakan kesempatan untuk menangani masalah                          7. Providing an opportunity to handle the problem of violations
    pelanggaran secara internal terlebih dahulu, sebelum                      internally first, before expanding into problems of violations
    meluas menjadi masalah pelanggaran yang bersifat publik                   that are public and involve the authorities;
    dan melibatkan aparat yang berwenang;
8. Mengurangi risiko yang dihadapi Perseroan, akibat dari                  8. Reducing the risks faced by the Company, as a result of
    pelanggaran baik dari segi keuangan, operasi, hukum,                      violations in terms of financial, operational, legal, work safety,
    keselamatan kerja, dan reputasi;                                          and reputation;




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                                                                                                                      Corporate Governance




      9. Mengurangi biaya dalam menangani suatu perkara akibat          9. Reducing costs in handling a case due to violations;
          dari terjadinya pelanggaran;
      10. Meningkatnya reputasi Perseroan di mata pemangku              10. Increasing the Company’s reputation in the eyes of
          kepentingan (stakeholders), regulator, dan masyarakat             stakeholders, regulators and the general public;
          umum;
      11. Memberikan masukan kepada Perseroan untuk melihat lebih       11. Provide input to the Company to look further at critical areas
          jauh area kritikal dan proses kerja yang memiliki kelemahan       and work processes that have internal control weaknesses,
          pengendalian internal, serta untuk merancang tindakan             as well as to design the necessary corrective actions.
          perbaikan yang diperlukan.




      RUANG LINGKUP
      Coverage

      Lingkup kebijakan WBS yang berlaku di GMF mencakup                The scope of WBS policies at GMF includes violations of the
      pelanggaran terhadap kebijakan internal Perseroan terkait GCG     Company’s internal policies concerning GCG and COC. In addition,
      dan COC. Selain itu lingkup kebijakan juga mencakup perbuatan     the policy also includes actions that might endanger aviation
      yang membahayakan keselamatan penerbangan, keamanan               safety, occupational safety and health or the security of the
      dan kesehatan kerja atau keamanan Perseroan, pelanggaran          Company, violations of SOPs that may harm the Company’s
      terhadap SOP yang berpotensi merugikan keuangan Perseroan         finances or the corporate image. In general, the WBS policy
      maupun yang dapat menimbulkan efek negatif terhadap citra         includes violations of corruption, fraud, dishonesty, or those
      korporat. Lingkup kebijakan WBS secara umum meliputi              injuring the applicable laws and regulations.
      pelaporan terhadap perbuatan pelanggaran seperti korupsi,
      kecurangan, ketidakjujuran, perbuatan melanggar hukum dan
      peraturan perundangan yang berlaku.

      Kebijakan WBS mengatur peran dan tanggung jawab semua             The WBS policy regulates the roles and responsibilities of all
      pihak yang terkait, jenis pelanggaran yang bisa dilaporkan,       related parties, types of violations, protection of whistleblowers,
      ketentuan perlindungan pelapor pelanggaran, penerimaan            reports, follow-up, and gratification management.
      laporan pelanggaran, tindak lanjut laporan pelanggaran dan
      penerimaan serta pengelolaan gratifikasi.

      SOSIALISASI WBS                                                   WBS SOCIALIZATION
      Sosialisasi WBS telah dilakukan melalui pertemuan tatap muka      WBS was socialized through periodic face-to-face meetings
      yang dilakukan secara periodik sejak tahun 2018. Sosialisasi      since 2018. All personnel attended the socialization, including
      dihadiri oleh seluruh insan GMF termasuk Dewan Komisaris,         the Board of Commissioners, Board of Directors, and structural
      Direksi, dan pejabat struktural. Perseroan juga menyebarkan       officers. The Company also distributes pamphlets and published
      pamphlet dan informasi yang dimuat dalam artikel GMF News,        information through GMF News article and Monthly Bulletin to
      Buletin Bulanan yang dibagikan kepada seluruh pegawai. Pada       all employees. Information about WBS is also available at the
      website Perseroan juga terdapat informasi mengenai WBS            website www.gmf-aeroasia.co.id at the corporate governance
      di www.gmf-aeroasia.co.id bagian corporate governance             section (whistleblowing system).
      (whistleblowing system).

      Sosialisasi WBS akan terus dilakukan secara berkelanjutan dan     WBS will be socialized continuously and gradually to all
      bertahap kepada seluruh pemangku kepentingan dalam rangka         stakeholders to increase the effectiveness of its implementation.
      meningkatkan efektivitas pelaksanaan WBS.

      PIHAK PENGELOLA PENGADUAN                                         COMPLAINTS MANAGER

      GMF telah menunjuk pihak eksternal yaitu PT Integrity Indonesia   GMF has appointed an external party, PT Integrity Indonesia,
      sebagai pihak independent yang mengelola laporan pelanggaran      as an independent party that manages reports of violations
      di lingkungan GMF. Pengelola laporan menganalisis laporan         within GMF. The report manager analyses the report to gather
      untuk mengumpulkan bukti dan informasi sebelum kemudian           evidence and information before submitting it to GMF internal
      disampaikan kepada internal GMF untuk ditindaklanjuti.            for follow-up.



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                                                                                                                           PENYAMPAIAN LAPORAN
                                                                                                                                                                  Penyampaian Laporan


Seluruh insan GMF wajib melaporkan setiap dugaan tindakan                                                           All personnel must report every allegation of fraud at the
penyimpangan yang terjadi di lingkungan Perseroan. Pelapor                                                          Company. The whistleblower may report any violation through
dapat melaporkan pelanggaran yang terjadi melalui jalur sebagai                                                     the following channels:
berikut:
1. Atasan pelapor masing-masing                                                                                     1. Their own superior
2. Fungsi Compliance Officer                                                                                        2. Through Compliance Officer
   Fungsi Compliance Officer adalah pegawai yang ditunjuk                                                              The Compliance Officer is appointed by the Company who
   oleh Perseroan yang berasal dari unit dua tingkat di bawah                                                          came from the units two levels under the Board of Directors
   Direksi yang membidangi Legal & Corporate Governance.                                                               regarding Legal & Corporate Governance. The Compliance
   Fungsi Compliance Officer yang bertanggungjawab atas                                                                Officer is responsible for the Company’s compliance program
   program kepatuhan Perseroan dan memastikan bahwa                                                                    and ensures all personnel follows the rules, regulations, and
   seluruh Insan GMF mematuhi peraturan dan ketentuan                                                                  other policies, including the Code of Conduct.
   baik peraturan perundang-undangan, peraturan, ketentuan
   dan kebijakan lain yang berlaku di Perseroan termasuk juga
   Pedoman Perilaku (Code of Conduct).
3. Whistleblowing System dengan alamat website http://                                                              3. Whistleblowing System with website address http://
   www.gmf-whistleblower.com dan email gmf-aeroasia@                                                                   www.gmf-whistleblower.com and email gmf-aeroasia@
   whistleblowing.link                                                                                                 whistleblowing.link


                                                                            Alur Whistleblowing System GMF
                                                                               Whistleblowing Flow at GMF

                                      Mulai
                                      Start




                              Pengaduan oleh Pelapor
                       Violation reports by Reporting Person




                         Pengumpulan Data dan Analisis
                          Laporan oleh Fungsi Pelaporan
                                    Pelanggaran
                        Collecting and analyzing data by the
                           Function of Violation Reports



                            Apakah pelaku adalah Dewan                                                                                      Tidak
                                                                    Apakah Pelaku adalah Direksi?             Apakah pelaku adalah      No                    Penerima Laporan
                                     Komisaris?
                                                                      Is the Board of Directors a         pegawai Corporate Secretary/                 The Recipient of Violation Reports
                      Is the Board of Commissioner a reported
                                                                           reported person?                     Fungsi Investigasi/
                                       person?                Tidak                               Tidak
                                                               No                                  No
                                                                                                                Compliance Officer                                               Tidak
                                                                                                               Is reported person an                                              No
                                                                                                           employee/staff/investigation
                                                                                                           function/Compliance Officer?                       Perlu Investigasi?
                                                                                                                                                            Investigation Needed?
                                              Ya                          Ya                                  Ya
                                              Yes                         Yes                                 Yes                                                                Ya
                                                                                                                                                                                 Yes


                                                                    Pelapor Awal Kepada Dewan                                                            Penunjukan Tim Investigasi
                         Pelapor Awal Kepada Pemegang
                                                                             Komisaris                    Pelapor Awal kepada Direksi                   Designation Investigation Team
                                      Saham
                                                                     Reporting the Investigation           Reporting the Investigation
                         Reporting the Investigation Result
                                                                       Result to the Board of             Result to the Board of Director
                                   Shareholders
                                                                          Commissioners

                                                                                                                                                                 Investigasi?
                                                                                                                                                                Investigation?




                                                                                                                                                         Pelaporan Hasil Investigasi
                                                                                                                                                       Reporting the Investigation Result




                                                                                                                                                    Tindak Lanjut Penetapan Status Hukum
                                                                                                                                                            Following Up Penalties




                                                                                                                                                                    Selesai
                                                                                                                                                                     Finish




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                                                                                                                                Corporate Governance




      PERLINDUNGAN WHISTLEBLOWER                                               PROTECTION FOR WHISTLEBLOWER

      Seluruh pemangku kepentingan Perseroan dapat melaporkan                  All stakeholders can report the violations. All personnel, from
      pelanggaran. Seluruh insan Perseroan mulai dari Dewan Komisaris,         the Board of Commissioners, Board of Directors, and employees,
      Direksi, hingga karyawan dapat dilaporkan jika terbukti bersalah.        can be reported if proven guilty.

      Perseroan akan melindungi setiap pelapor dari segala macan               The Company will protect the whistleblower from all kinds of
      tekanan, ancaman, dan tindakan pembalasan lainnya. Perseroan             pressure, threats, and other retaliations. The Company will also
      juga akan melindungi pelapor dari perlakuan yang merugikan               protect the whistleblowers from adverse treatment such as
      seperti pemecatan yang tidak wajar, penurunan jabatan atau               improper dismissal, demotion, harassment, or discrimination
      pangkat, pelecehan atau diskriminasi dalam segala bentuknya,             in all its forms and records detrimental to the Personal File.
      dan catatan yang merugikan Personal File Record. Apabila                 When the Company cannot resolve the issue internally, the
      tidak dapat diselesaikan secara internal Perseroan, pelapor              whistleblower can take the case to an independent institution
      dijamin haknya untuk membawa ke lembaga independen di                    outside the Company, such as a mediator, the police, or the
      luar Perusahaan, seperti mediator, kepolisian atau Lembaga               Witness and Victim Protection Agency (LPSK), under the
      Perlindungan Saksi dan Korban (LPSK) dan dibiayai Perusahaan.            Company’s cost.

      Bagi pelapor yang terlibat dalam Pelanggaran akan mendapat               For whistleblowers involved in the Offence will receive sanction
      keringanan sanksi. Perseroan juga akan menyediakan                       relief. The Company will also provide legal protection if necessary,
      perlindungan hukum jika diperlukan, sejalan dengan yang                  in line with what is stipulated in Law No. 8 of 2010 on Prevention
      diatur pada UU No. 8 tahun 2010 tentang Pencegahan dan                   and Eradication of Money Laundering and Law No. 1 of 2023 on
      Pemberantasan Tindak Pidana Pencucian Uang dan UU No. 1                  the Criminal Code and Law No. 13 of 2006 as amended by Law
      tahun 2023 tentang Kitab Undang-Undang Hukum Pidana dan                  No. 31 of 2014 on Witness and Victim Protection, and Article 5
      UU No. 13 Tahun 2006 sebagaimana telah diubah dengan UU                  of Government Regulation No. 57 of 2003 on Special Protection
      No. 31 tahun 2014 tentang Perlindungan Saksi dan Korban, dan             Procedures for Whistleblowers and Witnesses in the Crime of
      Pasal 5 PP No. 57 tahun 2003 tentang Tata Cara Perlindungan              Money Laundering.
      Khusus bagi Pelapor dan Saksi dalam Tindak Pidana Pencucian
      Uang.

      SANKSI BAGI PELANGGAR                                                    SANCTIONS FOR VIOLATORS

      Sanksi bagi terlapor yang terbukti melakukan pelanggaran telah           stipulated in the Collective Labor Agreement (PKB), which
      diatur dalam Perjanjian Kerja Bersama (PKB) yang disahkan                was ratified on April 23, 2019. Sanctions for employees who
      pada bulan 23 April 2019. Sanksi bagi pegawai yang terbukti              are proven to have committed violations are in many forms,
      melakukan pelanggaran antara lain berupa teguran, peringatan             including reprimands, written warnings, demotion, and dismissal.
      tertulis, penurunan kelas jabatan, hingga pemecatan. Sanksi bagi         Sanctions for those collaborating with GMF include termination
      pihak lain yang bekerja sama dengan GMF antara lain berupa               of the contract.
      pemutusan kontrak kerja sama.

      PENGADUAN TAHUN 2023                                                     INCOMING COMPLAINTS IN 2023

                                                                2023                               2022                              2021
                       Media Pelaporan
                       Reporting Channel               Jumlah            Penerima     Jumlah            Penerima       Jumlah               Penerima
                                                        Total            Receiver      Total            Receiver        Total               Receiver

        Email                                                   3    PT Integrity              1     Internal GMF                2          Internal GMF
        Email                                                        Indonesia

        Web WBS                                                 2    PT Integrity              -                   -             2          Internal GMF
        Web WBS                                                      Indonesia

        Jumlah Laporan Masuk                                    5    PT Integrity              1     Internal GMF                4          Internal GMF
        Number of Incoming Report                                    Indonesia

        Jumlah Laporan Dihentikan (Tidak Terbukti                   5                               1                                 0
        Number of Stopped Report (No proof)

        Jumlah Laporan Diproses                                     0                               1                                 4
        Number of Processed Report

        Komposisi Laporan Masuk dan Laporan Diproses                0%                             100%                              100%
        Composition of Incoming & Processed Report




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                                 TRANSPARANSI PRAKTIK BAD GOVERNANCE
                                                                              Transparency on Bad Governance


LAPORAN ATAS AKTIVITAS PERUSAHAAN YANG                            REPORTS ON COMPANY’S ACTIVITIES
MENCEMARI LINGKUNGAN                                              POLLUTING THE ENVIRONMENT
Selama tahun 2023, tidak terdapat laporan atas pencemaran         Throughout 2023, there were no reports of environmental
lingkungan yang dapat disampaikan pada laporan ini.               pollution that can be disclosed in this report.

PENGUNGKAPAN PEMENUHAN KEWAJIBAN                                  DISCLOSURE OF TAX COMPLIANCE
PERPAJAKAN
Nilai kontribusi pajak Perseroan pada tahun 2023 mencapai Rp      The value of the Company’s tax contribution in 2023 reached
157.455.007.908. Pada tahun 2023, pembayaran pajak belum          Rp 157,455,007,908. In 2023, tax payments have not been
sepenuhnya dilakukan secara tepat waktu mengingat likuiditas      fully made in a timely manner considering that the Company’s
Perseroan setelah pandemi masih dalam proses pemulihan.           liquidity after the pandemic is still in the process of recovery.

KETIDAKSESUAIAN PENYAJIAN LAPORAN                                 INCOMPATIBILITY OF ANNUAL REPORT
TAHUNAN DAN LAPORAN KEUANGAN DENGAN                               PRESENTATION AND FINANCIAL STATEMENTS
PERATURAN YANG BERLAKU DAN STANDAR                                WITH APPLICABLE REGULATIONS AND
AKUNTASI KEUANGAN (SAK)                                           FINANCIAL ACCOUNTING STANDARDS (SAK)
Seluruh penyajian informasi dalam Laporan Tahunan ini,            The entire presentation of information in this Annual Report,
khususnya terkait kinerja keuangan dan hal-hal lainnya, mengacu   particularly related to financial performance and other matters,
pada Laporan Keuangan untuk tahun-tahun yang berakhir 31          refers to the Financial Statements for the years ended 31 December
Desember 2023 dan 31 Desember 2022 yang telah diaudit oleh        2023 and 31 December 2022 which have been audited by the
Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis & Rekan.      Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan. The
Penyajian dan pengungkapan laporan keuangan Perseroan             presentation and disclosure of the Company’s financial statements
disusun dan disajikan sesuai Standar Akuntansi Keuangan           are prepared and presented in accordance with Indonesian
di Indonesia, yaitu Pernyataan Standar Akuntansi Keuangan         Financial Accounting Standards, namely the Statement of Financial
(PSAK), yang diterbitkan oleh Ikatan Akuntan Indonesia (IAI)      Accounting Standards (PSAK), issued by the Indonesian Institute
dan Peraturan Badan Pengawas Pasar Modal dan Lembaga              of Accountants (IAI) and the Regulation of the Capital Market
Keuangan (Bapepam-LK) No. VIII.G.7 tentang Pedoman Penyajian      Supervisory Agency and Financial Institutions (Bapepam-LK) No.
Laporan Keuangan, dengan Surat Keputusan Ketua Bapepam-LK         VIII.G.7 concerning Guidelines for the Presentation of Financial
No. KEP-347/BL/2012 tentang Penyajian dan Pengungkapan            Statements, with the Decree of the Chairman of Bapepam-LK
Laporan Keuangan Emiten atau Perusahaan Publik.                   No. KEP-347/BL/2012 concerning Presentation and Disclosure
                                                                  of Financial Statements of Issuers or Public Companies.

KASUS TERKAIT DENGAN BURUH DAN KARYAWAN                           CASES RELATED TO LABOR AND EMPLOYEES
Sepanjang 2023, tidak terdapat kasus terkait dengan buruh         Throughout 2023, there were no cases related to labor and
dan karyawan.                                                     employees.

PENGUNGKAPAN SEGMEN OPERASI PADA                                  DISCLOSURE OF OPERATING SEGMENTS IN
LAPORAN KEUANGAN                                                  FINANCIAL STATEMENTS
Sebagaimana yang tercantum dalam PSAK No. 5 tentang Segmen        As stated in PSAK No. 5 concerning Operating Segments and
Operasi dan untuk kepentingan manajemen, Perseroan telah          for the management’s interest, the Company has presented
menyajikannya menurut pengelompokkan (segmen) jasa yang           them according to the grouping (segment) of services, namely
diberikan, yaitu jasa pemeliharaan dan perbaikan pesawat          maintenance and repair services for airframe aircraft, engines
airframe, engine, component; serta jasa pemeliharaan dan          and components; as well as maintenance and repair services
perbaikan pesawat line maintenance dan technical ground           for line maintenance and technical ground aircraft handling, as
handling, sebagaimana telah disampaikan dalam Laporan             stated in the 2023 Audited Financial Statements. The Company
Keuangan Teraudit tahun 2023. Perseroan tidak melaporkan          does not report information related to performance based on
informasi terkait kinerja berdasarkan daerah geografis.           geographic areas.




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      KESESUAIAN BUKU LAPORAN TAHUNAN DAN                                 SUITABILITY OF THE ANNUAL REPORT BETWEEN
      LAPORAN TAHUNAN DIGITAL                                             THE BOOK AND DIGITAL VERSION
      Laporan Tahunan digital Perseroan, baik yang disampaikan kepada     The Company’s digital Annual Reports, whether submitted to
      pemegang saham, pemangku kepentingan, maupun yang telah             shareholders, stakeholders, or those uploaded on the Company’s
      diunggah pada situs web resmi Perseroan telah sesuai dengan         official website, are according to the Annual Report book that
      buku Laporan Tahunan yang dicetak dan diterbitkan oleh Perseroan.   is printed and published by the Company.




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                                                                Corporate Social Responsibility




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                                                07




                                                   TANGGUNG
                                                JAWAB SOSIAL
                                                 PERUSAHAAN
                                                Corporate Social Responsibility
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                                                                                                           Corporate Social Responsibility




      PENGUNGKAPAN INFORMASI TJSL
      Disclosure of TJSL Information


      Status GMF sebagai perusahaan terbuka dan bagian dari BUMN,      As a public company and part of a SOE, GMF is obligated
      mewajibkan Perseroan untuk menjalankan program tanggung          to conduct social responsibility programs. Within the SOE
      jawab sosial. Dalam lingkungan BUMN, program tersebut lebih      environment, the program is known as Social and Environmental
      dikenal dengan nama Tanggung Jawab Sosial dan Lingkungan         Responsibility or TJSL.
      atau TJSL.

      Dalam pembahasan di bab kali ini, pengungkapan hanya             The disclosure of information in this chapter, focuses solely on
      akan difokuskan pada informasi TJSL, sesuai namanya, yaitu       TJSL information, which encompasses various programs aimed
      program yang berkaitan dengan dampak positif untuk kehidupan     at generating positive impacts for the society in terms of the
      masyarakat dari sisi sosial dan lingkungan. Pembahasan lainnya   social and environmental aspects. Other discussions related to
      terkait pemberian dampak berkelanjutan sesuai standar ISO        providing sustainable impacts in accordance with ISO 26000
      26000 dan Peraturan Otoritas Jasa Keuangan Nomor 51/             standards and Financial Services Authority Regulation Number
      POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan            51/POJK.03/2017 concerning the Implementation of Sustainable
      bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik        Finance for Financial Services Institutions, Issuers, and Public
      akan diungkapkan lebih lanjut di bagian Laporan Keberlanjutan    Companies will be discussed further in the Sustainability Report
      setelah Laporan Tahunan ini.                                     section following this Annual Report.

      Sebagai gambaran, berikut merupakan dasar hukum pelaksanaan      As a general picture, the legal basis for implementing the TJSL
      program TJSL yang berlaku di GMF:                                program at GMF includes:
      1. UU No 40 tahun 2007 tentang Perseroan Terbatas;               1. Law No. 40 of 2007 concerning Limited Liability Companies;
      2. UU No. 19 Tahun 2003 tentang Badan Usaha Milik Negara;        2. Law No. 19 of 2003 concerning State-Owned Enterprises;
      3. Undang-Undang No. 32 Tahun 2009 tentang Perlindungan          3. Law No. 32 of 2009 concerning Environmental Protection
         dan Pengelolaan Lingkungan Hidup;                                and Management;
      4. Undang-Undang No. 13 Tahun 2011 tentang Penanganan            4. Law No. 13 of 2011 concerning the Handling of the Poor;
         Fakir Miskin;
      5. Peraturan Pemerintah No. 47 Tahun 2012 tentang Tanggung       5. Government Regulation No. 47 of 2012 concerning Social and
         Jawab Sosial dan Lingkungan Perseroan Terbatas;                  Environmental Responsibility of Limited Liability Companies;
      6. Peraturan Menteri Negara Badan Usaha Milik Negara             6. Regulation of the Minister of State-Owned Enterprises No.
         No. PER-09/MBU/07/2015 tanggal 03 Juli 2015 tentang              PER-09/MBU/07/2015 dated 03 July 2015 concerning
         Program Kemitraan dan Program Bina Lingkungan Badan              Partnership Programs and Environmental Development
         Usaha Milik Negara;                                              Programs for State-Owned Enterprises;
      7. Kebijakan Pengelolaan Program Corporate Social                7. Management Policy of Corporate Social Responsibility
         Responsibility GMF No. KB01-007 Edisi B Rev 0 tanggal            Program of GMS No. KB01-007 Edition B Rev 0 dated
         16 November 2018 dan Prosedur Bisnis No. PB-13-005               November 16, 2018, and Business Procedure No. PB-13-
         tanggal 29 September 2015.                                       005 dated September 29, 2015.




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                                                             PENGELOLA TJSL DAN ANGGARAN
                                                                                                      TJSL Manager and Budget


GMF telah membentuk Unit Corporate Communications & CSR                      GMF has formed a Corporate Communications & CSR Unit
di dalam struktur Corporate Secretary & Legal yang bertanggung               within the Corporate Secretary & Legal structure that holds the
jawab secara khusus untuk menangani pelaksanaan kegiatan                     responsibility of handling the TJSL activities at the Company. This
TJSL di Perseroan. Unit ini dipimpin oleh seorang General Manager            unit is led by a General Manager who reports to VP Corporate
yang bertanggung jawab kepada VP Corporate Secretary & Legal.                Secretary & Legal.

GMF telah mengalokasikan dana terkait kegiatan TJSL untuk                    GMF has allocated funds for various TJSL programs aimed at
program yang berkaitan dengan dampak positif untuk kehidupan                 generating positive impacts for the society in terms of the
masyarakat dari sisi sosial dan lingkungan yang diungkapkan                  social and environmental aspects outlined in the following
dalam tabel berikut. Alokasi dana terkait tanggung jawab di                  table. The allocation of funds related to responsibilities in the
bidang ketenagakerjaan, K3 (keselamatan dan kesehatan                        fields of employment, occupational health and safety (OHS),
kerja), pelestarian lingkungan dalam kegiatan operasional, serta             environmental preservation within the operational activitiy, and
pelanggan akan diungkapkan di bagian Laporan Keberlanjutan.                  customer engagement will be disclosed in the Sustainability
[F.3]                                                                        Report. [F.3]


                                                       Realisasi Target Anggaran TJSL 2023
                                                    Realization of TJSL Budget Against 2023 Target
                                                                                                          Kenaikan            Penyerapan
                                                Realisasi 2023                         Anggaran
                                                                   Realisasi 2022                       (Penurunan)          Anggaran 2023
                 Perihal                        2023 Realization                         2023
                                                                   202 Realization                        Increase            2023 Budget
                 Subject                             2023                             2023 Budget
                                                                        (Rp)                             (Decrease)            Absorption
                                                     (Rp)                                 (Rp)
                                                                                                       2022-2023 (%)              (%)

 Program TJSL untuk kehidupan                        201.542.000       178.622.680     201.542.000                  13%                     100%
 masyarakat dari sisi sosial dan
 lingkungan
 TJSL programs for the society in terms
 of social and environmental aspects


Dari tabel dapat dilihat bahwa terjadi peningkatan 13% dari                  From the table, it can be observed that there was an increase of
realisasi anggaran pada tahun 2023 dibandingkan tahun                        13% in 2023 budget realization compared to the previous year.
sebelumnya. Hal tersebut terjadi karena mulai membaiknya                     This occurred because the Company’s financial condition began
kondisi keuangan Perusahaan dan banyaknya kegiatan tanggung                  to improve, thus the number of social responsibility activities
jawab sosial yang dilakukan oleh Perusahaan.                                 carried out by the Company also increased.




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      PELAKSANAAN PROGRAM TJSL 2023
      Implementation of TJSL Programs in 2023



                                                                          ESG
                        Environment                                       Social                                Governance




                            Pilar Lingkungan                              Pilar Sosial                              Pilar Tata Kelola
                           Environmental Pillar                           Social Pillar                            Governance Pillar




                        Mengambil keputusan untuk kepentingan jangka panjang yang memberikan manfaat
                         dan dampak secara ekonomi, lingkungan dan sosial dengan didukung tata kelola
                          perusahaan dan penerapan POJK No.15/POJK.03/2017 sebagai dasar strategi
                                                        keberlanjutan
                          Make decisions for long-term interests that provide economic, environmental, and social benefits and impacts,
                          supported by corporate governance and the implementation of POJK No. 15/POJK.03/2017 as the basis for a
                                                                      sustainability strategy.




      PILAR SOSIAL [F.23, F.25]                                                    SOCIAL PILLAR [F.23, F.25]

      GMF mengedukasi masyarakat mengenai keselamatan                              GMF educates the public about aviation safety in Indonesia
      penerbangan di Indonesia dengan memberikan kesempatan                        by providing opportunities for them to see firsthand the MRO
      bagi mereka untuk melihat langsung proses bisnis MRO di                      business process at the Company through public visits. In 2023,
      Perseroan (public visit). Pada tahun 2023, Perseroan menerima                the Company received visits from 183 people from various
      kunjungan dari 183 orang yang berasal dari berbagai institusi,               institutions, both companies and government agencies, as
      baik perusahaan maupun pemerintahan, serta 319 pelajar                       well as 319 students from high schools and universities. The
      dari jenjang Sekolah Menengah Atas (SMA) dan Universitas.                    Company also provides opportunities for these students to
      Perseroan juga memberikan kesempatan bagi para pelajar                       carry out Field Work Practices and complete Final Assignments
      tersebut untuk dapat melaksanakan Praktik Kerja Lapangan                     at GMF. Throughout 2023, the Company accepted 1,280 pupils
      maupun pengerjaan Tugas Akhir di GMF. Sepanjang tahun 2023,                  and students, placing them in various GMF work units to provide
      secara keseluruhan Perseoan telah menerima 1.280 siswa                       real experience in the MRO business environment.
      dan mahasiswa yang ditempatkan di berbagai unit kerja GMF
      untuk memberikan pengalaman nyata bekerja di lingkungan
      bisnis MRO.

      Selain mengedukasi pihak eksternal, GMF juga mengedukasi                     Apart from educating external parties, GMF also educates
      pihak internal, terutama mereka para GMF Heroes, melalui                     internal parties, especially GMF Heroes, through development
      program pengembangan. Dari sisi sosial, hal ini penting karena               programs. From a social perspective, this is important as it
      dapat memberikan mereka kesempatan untuk mengembangkan                       provides them the opportunity to develop themselves and
      diri dan meningkatkan karier sehingga dapat berdampak bagi                   improve their careers, impacting their overall economic welfare.
      kesejahteraan ekonomi mereka secara keseluruhan. Pada tahun                  In 2023, 973 in-house training programs were conducted for
      2023, sebanyak 973 program inhouse training telah dilakukan                  17,277 participants.
      untuk 17.277 peserta.




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GMF juga menjalankan beberapa program sosial yang                  GMF also runs several social programs in collaboration with
bekerja sama dengan beberapa pihak. Pada tahun 2023, GMF           various parties. In 2023, GMF contributed to building a prayer
berkontribusi membangun Mushola di daerah Cianjur yang             room (Mushola) in Cianjur, which was affected by the earthquake
terdampak bencana gempa bumi akhir tahun 2022. GMF juga            at the end of 2022. GMF also organized breakfasting activities and
melakukan kegiatan Buka Bersama dan Santunan Anak Yatim            gave donations to orphans at four Orphan Foundations around
Piatu untuk empat Yayasan Anak Yatim Piatu di sekitar area kerja   the GMF work area in Tangerang City, Banten. Additionally, GMF
GMF di Kota Tangerang, Banten. GMF juga memberikan bantuan         provided assistance in the form of two modified wheelchairs
berupa dua buah kursi roda modifikasi dari kursi pesawat untuk     made from airplane seats for people with disabilities from the
penyandang disabilitas dari Yayasan Sayap Ibu Bintaro.             Sayap Ibu Bintaro Foundation.

Selain program yang dinisiasi oleh Perseroan, GMF juga mengajak    Apart from the programs initiated by the Company, GMF also
para karyawan yang tergabung dalam GMF Employee Club               engages employees who are members of the GMF Employee
untuk berpartisipasi. Salah satu program rutin yang telah kami     Club to participate. One of the routine programs carried out is
lakukan yaitu kegiatan donor darah dan pada tahun 2023, telah      blood donation activities, which in 2023 resulted in 1,095 bags
terkumpul 1.095 kantong darah dari 1.215 peserta.                  of blood collected from 1,215 participants.

Sepanjang tahun 2023, GMF juga memberikan manfaat                  Throughout 2023, GMF also provided benefits to the surrounding
bagi seluruh masyarakat sekitar melalui kegiatan filantropi        community through philanthropic activities (sponsorship) for
(sponsorship) untuk beberapa kegiatan yang dilakukan oleh          several events organized by various institutions, such as the
sejumlah intitusi seperti kegiatan turnamen golf GEGA, Dharma      GEGA golf tournament, Dharma Santi SOEs, and INACA. In 2023,
Santi BUMN, dan INACA. Sepanjang tahun 2023 tidak terdapat         the Company did not receive any complaint from the community
keluhan yang datang masyarakat sekitar area operasional akibat     around operational areas. [F.24]
dari aktivitas operasional yang dilakukan Perseroan. [F.24]

PILAR LINGKUNGAN                                                   ENVIRONMENTAL PILLAR

Sebagai salah satu pelaku usaha aviasi yang menyumbang emisi       As one of the aviation businesses that contributes to carbon
karbon melalui pembakaran bahan bakar pesawat terbang, GMF         emissions through burning aircraft fuel, GMF is committed
berkomitmen untuk dapat memberikan manfaat lingkungan              to providing environmental benefits through reforestation
melalui program penghijauan, yaitu penanaman mangrove. Pada        programs, specifically by planting mangroves. In 2023, in
tahun 2023, bekerja sama dengan JejakIn, GMF dan seluruh           collaboration with JejakIn, GMF and all Garuda Group business
unit bisnis Garuda Group melakukan penanaman mangrove di           units planted mangroves in the Pantai Indah Kapuk. GMF
daerah Pantai Indah Kapuk. GMF memberikan 100 bibit pohon          provided 100 mangrove tree seedlings to help reduce carbon
mangrove untuk dapat membantu mengurangi emisi karbon              emissions in Indonesia.
di Indonesia.

PILAR EKONOMI                                                      ECONOMIC PILLAR

GMF berupaya untuk dapat meningkatkan taraf ekonomi di             GMF strives to improve the economic level around its operational
sekitar area operasional dengan melibatkan warga sekitar           areas by involving local residents as workers. GMF provides
sebagai tenaga kerja lokal. GMF memberikan kesempatan yang         equal opportunities to all people who meet the qualifications
sama kepada seluruh masyarakat sesuai dengan kualifikasi           after passing through the recruitment process. These local
yang ditentukan melalui proses rekrutmen. Tenaga kerja lokal       workers are those who came from the Tangerang City and
tersebut merupakan tenaga kerja yang berada di area Kota dan       Regency, Banten.
Kabupatan Tangerang, Banten.

Rekrutmen yang dilakukan GMF akan memberikan dampak                The recruitment conducted by GMF has a positive impact by
positif untuk memberikan mereka pengalaman dasar dalam             providing local residents with basic work experience, reducing the
bekerja, menurunkan tingkat pengangguran, serta meningkatkan       unemployment rate, and increasing the income of people around
pendapatan masyarakat di sekitar area operasional GMF.             GMF’s operational areas. Throughout 2023, GMF recruited 251
Sepanjang tahun 2023, GMF merekrut 251 orang tenaga kerja          local workers in the Industrial Internship section.




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      lokal dalam bagian Magang Industri.

      GMF juga berkontribusi pada program pemerintah untuk             Additionally, GMF contributed to government programs aimed
      pengentasan kemiskinan dan perbaikan ekonomi di Indonesia.       at alleviating poverty and improving the economy in Indonesia.
      GMF mengirimkan lima orang perwakilan GMF Heroes untuk           GMF sent five representatives of GMF Heroes to become
      dapat menjadi bagian dari Relawan Bakti BUMN. Kelima             part of the SOE Volunteer Service. These five individuals had
      orang tersebut berkesempatan untuk berpartisipasi dalam          the opportunity to participate in improving the community’s
      meningatkan perekonomian masyarakat dan mengentaskan             economy and alleviating poverty through programs addressing
      kemiskinan melalui program penanganan stunting dan               stunting and empowering local MSMEs in Bangka Belitung,
      pemberdayaan peningkatan UMKM lokal di daerah Bangka             Wakatobi, Pandeglang Banten, and Penglipuran Bali.
      Belitung, Wakatobi, Pandeglang Banten, dan Penglipuran Bali.

      PILAR TATA KELOLA                                                GOVERNANCE PILLAR

      GMF selalu bersikap transparan dengan memastikan adanya          GMF always acts transparently by ensuring the disclosure of
      keterbukaan informasi dan memastikan pengelolaan Perseroan       information and ensuring that the management of the Company
      yang bebas dari praktik korupsi agar aktivitas tata kelola       is free from corrupt practices so that corporate governance
      perusahaan dapat terselenggara dengan maksimal. GMF              activities can be carried out optimally. GMF rejects all forms of
      menolak segala pemberian dan/atau peneriman suap dan             giving and receiving bribes and imposes restrictions on accepting
      memberlakukan pembatasan penerimaan hadiah bagi seluruh          gifts for all GMF Heroes in any form and for any purpose. In
      GMF Heroes dalam bentuk apapun dan dalam rangka apapun.          practice, there is an obligation to report gift received by the GMF
      Dalam praktiknya, terdapat kewajiban dalam pelaporan dari        unit responsible for implementing anti-corruption measures in
      penerima hadiah kepada unit GMF yang bertanggung jawab           the Company.
      atas pelaksanaan anti korupsi di Perseroan.

      Sosialisasi dan komunikasi pencegahan korupsi secara berkala     Regular socialization and communication on corruption
      diadakan melalui media informasi internal Perseroan. Pelaporan   prevention are held through the Company’s internal media
      dapat dilakukan oleh pihak internal maupun eksternal GMF         channel. Reporting can be done by both internal and external
      melalui website Perseroan. Hasil dari pelaporan tersebut akan    parties through the Company’s website. The results of the
      disampaikan secara langsung kepada Dewan Komisaris dan           reports are submitted directly to the Board of Commissioners
      Direksi.                                                         and Directors.




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                                                 08




                                                      LAPORAN
                                                KEBERLANJUTAN
                                                      Sustainability Report
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      IKHTISAR KINERJA KEBERLANJUTAN 2023
      Highlights of Sustainable Performance in 2023


      IKHTISAR KINERJA SOSIAL [B.3]                                                HIGHLIGHTS OF SOCIAL PERFORMANCE
                                                                                   [B.3]

                                 Keterangan                                  Satuan
                                                                                                   2023                2022                2021
                                 Description                                  Unit

        Jumlah total pegawai*                                     Orang                                   4.875             4,690               4,926
        Total employees                                           Person

        Jumlah pegawai wanita*                                    Orang                                    502                 473              4,426
        Total female employees                                    Person

        Jumlah pegawai pria*                                      Orang                                   4.373               4,217               500
        Total male employees                                      Person

        Jumlah rekrutmen                                          Orang                                     436                167                 174
        Total recruitment                                         Person

        Jumlah karyawan meninggalkan perusahaan                   Orang                                      141               197                 89
        Total resigned employees                                  Person

        Turnover pegawai                                          Persen                                   2.94               4.36                 1.8
        Employee turnover                                         Percentage

        Jumlah kecelakaan kerja yang menyebabkan kematian         Kasus                                    Nihil             Nihil               Nihil
        Work accidents leading to death                           Cases                                   None              None                None

        Jumlah pengaduan pelanggan                                Persen                                     19                 40                 35
        Customer complaints                                       Percentage

        Jumlah penyaluran dana TJSL                               Rp juta                               201,54             178,62               116,63
        Funding to finance the TJSL                               Rp million

        Kepuasan Konsumen                                         Target 4                                 3.97                 3.7                3.7
        Customer satisfaction

        Pelibatan pemasok lokal (barang dan jasa) [B.1]           Perusahan/Mitra                            36                 112                72
        Local suppliers (goods and services) [B.1]                Company/Partner

        Keterangan | Notes:
        *Jumlah pegawai yang tercatat di sini merupakan pegawai secara keseluruhan Perseroan saja (pegawai tetap dan pegawai tidak tetap), tidak
        beserta entitas anak. | *This is the total employees of the Company only (permanent and non-permanent employees), excluding subsidiaries.


      IKHTISAR KINERJA LINGKUNGAN [B.2]                                            HIGHLIGHTS OF ENVIRONMENTAL
                                                                                   PERFORMANCE [B.2]

                                      Keterangan                                   Satuan
                                                                                                   2023                2022                2021
                                      Description                                   Unit

        Penggunaan Energi (Listrik dan BBM)                                  GigaJoule (GJ)             81,734           84,921.2           101,957.9
        Energy Usage (Electricity and Fuel)

        Penggunaan Air                                                       Meter kubik (m3)         466,284             139,667              32,472
        Water Usage                                                          Cubic meter (m3)

        Total Limbah Dihasilkan                                              Ton                      1.012,732           420,75               (128.8)
        Total Waste Generated

        Emisi Gas Rumah Kaca                                                 TonCO2eq                   1.382,5          (1,270.4)             (21,37)
        Greenhouse Gas Emissions

        Pelestarian keanekaragaman hayati (penanaman pohon)                  Batang Pohon                 1.140               663                 656
        Conservation of biodiversity (tree planting)                         Trees

        Pengaduan lingkungan                                                 Kasus                         Nihil             Nihil               Nihil
        Environmental complaints                                             Cases                        None              None                None




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KETERANGAN TERKAIT PRODUK RAMAH                                  INFORMATION REGARDING
LINGKUNGAN                                                       ENVIRONMENTALLY-FRIENDLY PRODUCTS

GMF memberikan pelayanan MRO kepada maskapai                     GMF offers MRO services to airlines and clients across diverse
penerbangan dan klien lainnya yang membutuhkan dari berbagai     industrial sectors. The services from GMF do not involve the
bidang industri. Aktivitas pelayanan GMF tidak menggunakan       use of specialized materials since the Company does not
material khusus karena parts pesawat dan mesin-mesin lainnya     manufacture aircraft parts or other machinery. While business
bukan merupakan hasil produksi Perseroan. Aktivitas usaha        operations generate waste, this cannot be categorized as a
memang menghasilkan limbah, namun hal tersebut tidak dapat       byproduct resulting from GMF’s activities. Additionally, GMF
dikategorikan sebagai produk yang dihasilkan dari aktivitas      does not engage in financing activities falling under the
usaha GMF. Selain itu, GMF juga tidak memiliki pembiayaan yang   category of Sustainable Finance as outlined in POJK Number
termasuk kategori kegiatan Keuangan Berkelanjutan dalam POJK     60/POJK.04/2017 concerning the Issuance and Requirements
Nomor 60/POJK.04/2017 tentang Penerbitan dan Persyaratan         for Environmentally Friendly Debt Securities (Green Bonds).
Efek Bersifat Utang Berwawasan Lingkungan (Green Bond).




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      TENTANG LAPORAN KEBERLANJUTAN
      About This Sustainability Report


      Laporan Keberlanjutan ini disusun berdasarkan ketentuan             This Sustainability Report is prepared based on the Financial
      Peraturan Otoritas Jasa Keuangan No. 51/POJK.03/2017                Services Authority (OJK) Regulation No. 51/POJK.03/2017
      tentang Penerapan Keuangan Berkelanjutan bagi Lembaga               concerning the Implementation of Sustainable Finance for
      Jasa Keuangan, Emiten, dan Perusahaan Publik, berikut Surat         Financial Service Institutions, Issuers, and Public Companies,
      Edaran Otoritas Jasa Keuangan No. 16/ SEOJK.04/2021 tentang         along with OJK Circular Letter No. 16/SEOJK.04/2021 concerning
      Bentuk dan Isi Laporan Tahunan Emiten atau Perusahaan Publik.       the Form and Content of the Annual Reports of Issuers or Public
      Pengungkapan Laporan Keberlanjutan juga mengikuti pedoman           Companies. This Sustainability Report also follows the reference
      yang ada pada panduan Global Reporting Initiatives (GRI) 2021.      from the Global Reporting Initiatives (GRI) Standards 2021.

      Laporan Keberlanjutan ini memuat kinerja keberlanjutan              This Sustainability Report discusses the Company’s sustainability
      Perseroan untuk periode 1 Januari 2023 sampai dengan 31             performance with the reporting period from January 1, 2023, until
      Desember 2023 yang juga disesuaikan dengan periode pelaporan        December 31, 2023, which is also adjusted with the reporting
      laporan keuangan konsolidasian teraudit. Walaupun laporan           period of the audited consolidated financial statement. Although
      keuangan yang ditampilkan merupakan laporan terkonsolidasi          the financial statement presented here is a consolidated report
      dengan entitas anak, namun kinerja keberlanjutan yang               that includes subsidiary, the sustainability performance displayed
      ditampilkan pada Laporan Keberlanjutan ini tidak mencakup           in this Sustainability Report does not include the subsidiary.
      entitas anak. Perseroan menerbitkan Laporan Keberlanjutan           This Sustainability Report is published annually in the same
      ini secara tahunan dalam satu buku dengan Laporan Tahunan           book of the Company’s Annual Report and thus referred to as
      dan disebut sebagai Laporan Terintegrasi. [2-2, 2-3]                Integrated Report. [2-2, 2-3]

      Tidak terdapat penyajian kembali atas informasi pada                There is no restatement in the information published in the
      Laporan sebelumnya ataupun pada laporan keuangan                    previous Report nor in the audited consolidated financial
      konsolidasian teraudit yang telah disampaikan. Semua data           statements that have been submitted. All data and information
      dan informasi dari pihak internal Perseroan yang disajikan dapat    presented from the Company’s internal resources can be
      dipertanggungjawabkan kredibilitasnya. Laporan Keberlanjutan        accounted for in terms of credibility. This Sustainability Report
      ini tidak diverifikasi oleh pihak ketiga independen. Direksi dan    was not verified by an independent third party. The Board of
      Dewan Komisaris, bersama dengan Sekretaris Perusahaan,              Directors and Commissioners, together with the Corporate
      sebagai penanggung jawab harian pembuatan Laporan                   Secretary, who is responsible for the daily preparation of this
      Keberlanjutan ini, ikut terlibat dalam proses pembuatan laporan.    Sustainability Report, were involved in the preparation process.
      [2-4, 2-5, G.1]                                                     [2-4, 2-5, G.1]

      Perseroan sudah mempublikasikan Laporan Keberlanjutan               The Company has published the Sustainability Report for 2022,
      tahun 2022 namun hingga akhir periode pelaporan dari Laporan        however, until the end of the reporting period of Sustainability
      Keberlanjutan 2023 per 31 Desember 2023 tidak terdapat              Report for 2023 as of December 31, 2023, there was no feedback
      tanggapan dari para pemangku kepentingan terhadap isi dari          from stakeholders on the content of the Sustainability Report
      Laporan Keberlanjutan 2022. [G.3]                                   for 2022. [G.3]


                                                             KONTAK PELAPORAN [2-3]
                                                             REPORTING CONTACT [2-3]


                                                     Kantor Pusat | Head Office
                                                           GMF AeroAsia
                                                  Hangar 4, Lobby Selatan Lantai 2,
                           Area Perkantoran Bandara Internasional Soekarno Hatta International, Kelurahan
                                          Pajang, Kecamatan Benda, Kota Tangerang, 15125

                                                        Soekarno Hatta International Airport
                                                             PO. Box 1303, BUSH 19130
                                                               Fax: +62 21 550 3555
                                                Telepon (call center): +62 21 550 8717/ 8727/8737
                                               Email: corporatecommunications@gmf-aeroasia.co.id



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       HUBUNGAN DENGAN PEMANGKU KEPENTINGAN DAN
                 PENENTUAN TOPIK MATERIAL [E.4, 2-29]
                                                Stakeholders Engagement and Materiality Analysis [E.4, 2-29]
UJI TUNTAS                                                         DUE DILIGENCE

Perseroan memiliki tujuan agar kegiatan TJSL dapat memenuhi        The Company has an objective to make TJSL activities fulfill the
kebutuhan pemangku kepentingan yang terdampak aktivitas            needs of stakeholders who are affected by operational activities
operasional dari sisi sosial, ekonomi, dan lingkungan. Hal ini     from a social, economic, and environmental perspective. This
membuat Perseroan senantiasa melakukan pemetaan secara             makes the Company continue making internal mapping on the
internal terkait kondisi lingkungan masyarakat dari berbagai       community’s conditions from various sides to maximize TJSL
sisi agar program TJSL berjalan tepat sasaran dan memberikan       program to those who truly deserve it.
manfaat maksimal.

Perseroan melakukan uji tuntas (due diligence) secara internal     The Company has internal due diligence activities on the
terhadap kegiatan operasional dan dampaknya terhadap               operation and assesses its impact on the economy, environment,
ekonomi, lingkungan, maupun sosial berdasarkan tingkat             and society based on the materiality level and negative impacts.
materialitas serta dampak negatif yang mungkin timbul. Isu         Priority issues are formulated and then designed as programs
prioritas dirumuskan untuk kemudian dirancang sebagai program      that can ensure the stakeholders receive continuous benefits.
yang dapat memastikan keberlanjutan manfaat bagi para              The due diligence activities are:
pemangku kepentingan. Aktivitas due diligence dari kegiatan
TJSL meliputi:
1. Survei kepuasan karyawan;                                       1. Employee satisfaction survey;
2. Survei pelanggan;                                               2. Customer survey;
3. Survei kepuasan pemasok;                                        3. Vendor performance evaluation;
4. Focus Group Discussion;                                         4. Focus Group Discussion;
5. Rencana Kerja dan Anggaran Perseroan (RKAP).                    5. Company’s Work and Budget Plan.

PEMANGKU KEPENTINGAN DAN ISU                                       KEY STAKEHOLDERS AND IMPORTANT
PENTING                                                            ISSUES

Perseroan melibatkan pemangku kepentingan internal dan             The Company actively engages both internal and external
eksternal dalam menerapkan strategi operasional serta              stakeholders in implementing operational strategies and
menyelaraskan tujuan korporasi dalam mewujudkan bisnis             aligning corporate goals to realize sustainable business practices.
yang berkelanjutan. Keterlibatan pemangku kepentingan menjadi      Stakeholder involvement is important to the Company’s
kunci dari keberlanjutan Perusahaan. Hubungan baik, sikap saling   sustainability efforts. Maintaining strong relationships, fostering
menghormati, dan komunikasi dua arah dengan pemangku               mutual respect, and facilitating two-way communication with
kepentingan sangat penting untuk kestabilan operasional            stakeholders are crucial for ensuring operational stability. The
Perusahaan. Perseroan terbuka terhadap berbagai kesempatan         Company remains open to various opportunities for dialogue,
untuk berdialog, menerima umpan balik, dan mempertimbangkan        welcomes feedback, and considers stakeholder input in decision-
masukan pemangku kepentingan dalam pengambilan keputusan.          making processes.

Perseroan telah mengidentifikasi tujuh pemangku kepentingan        Seven main stakeholders have been identified, including clients,
utama yang terdiri dari klien, pemegang saham dan investor,        shareholders and investors, employees, government/regulators,
pegawai, pemerintah/regulator, mitra kerja, media massa,           partners, mass media, and the public. This identification stems
masyarakat. Identifikasi tersebut didapatkan dari analisa pola     from an analysis of interaction patterns and the nature of
interaksi dan sifat keterlibatan dengan kegiatan bisnis GMF        involvement with GMF’s business activities, as well as those
serta mereka yang memiliki pengaruh signifikan terhadap bisnis     who are anticipated to exert significant influence on GMF’s
GMF pada tahun 2023.                                               business in 2023.

Tabel berikut ini menggambarkan interaksi Perseroan dengan         The following table outlines the Company’s interactions with
para pemangku kepentingan, yang dipilih berdasarkan rentang        stakeholders, selected based on their level of influence and
pengaruh dan kepentingannya terhadap keberlanjutan Perseroan.      importance to the Company’s sustainability.




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            Pemangku Kepentingan                        Topik/Harapan terhadap Perseroan                          Metode dan Frekuensi Pelibatan
                Stakeholders                             Topics/Expectation to the Company                      Engagement Methods and Frequencies

        Klien                                   •     Kualitas produk dan layanan yang terjaga dan       •   Pertemuan pelanggan (sesuai kebutuhan)
        Clients                                       optimal                                                Customer gathering (as required)
                                                      Quality of products and services are maintained    •   Survei kepuasan pelanggan (minimal setahun sekali)
                                                      and optimal                                            Customer satisfaction survey (at least once a year)
                                                •     Harga pelayanan yang kompetitif                    •   Mekanisme pengaduan (sesuai kebutuhan)
                                                      Competitive maintenance rate                           Complaint mechanism (as required)

        Pemegang Saham dan Investor             •     Kinerja Perseroan                                  •   Rapat Umum Pemegang Saham (minimal setahun
        Shareholders and Investors                    The Company’s performance                              sekali)
                                                •     Perolehan dividen                                      General Meeting of Shareholders (at least once a
                                                      Earnings of dividends                                  year)
                                                •     Transparansi laporan kondisi Perseroan             •   Paparan Publik (minimal setahun sekali)
                                                      Transparency of the Company's condition report         Public Expose (at least once a year)
                                                •     Inovasi layanan                                    •   Laporan Tahunan dan Laporan Keberlanjutan
                                                      Maintenance services innovation                        (setahun sekali)
                                                                                                             Annual Report and Sustainability Report (once a
                                                                                                             year)
                                                                                                         •   Laporan Keuangan (4 kali setahun)
                                                                                                             Financial Statements (4 times a year)
                                                                                                         •   Keterbukaan informasi dalam situs web Perusahaan
                                                                                                             (sesuai kebutuhan)
                                                                                                             Information disclosure in the Company’s website
                                                                                                             (as required)

        Pegawai                                 •     Kesejahteraan                                      •   Pendidikan dan pelatihan (sesuai kebutuhan)
        Employees                                     Welfare                                                Education and training (as required)
                                                •     Kesetaraan dan keadilan dalam penilaian kinerja,   •   Reviu Kinerja (tahunan)
                                                      pengembangan kompetensi, jenjang karir dan             Performance review (annually)
                                                      remunerasi                                         •   Perlakuan yang adil dan setara dalam
                                                      Equality and fairness in performance appraisal,        pengembangan karir dan remunerasi
                                                      competency development, career path and                Fair and equal treatment in career development
                                                      remuneration                                           and remuneration
                                                •     Tempat kerja yang sehat, aman dan nyaman
                                                      A healthy, safe and comfortable workplace

        Pemerintah/Regulator                    •     Terjalinnya hubungan yang harmonis dan             •   Laporan berkala dan insidentil yang disampaikan
        Government/Regulator                          konstruktif dengan regulator                           tepat waktu (sesuai kebutuhan)
                                                      Establishing a harmonious and constructive             Regular and incidental report submitted on time
                                                      relationship with regulators                           (as required)
                                                •     Pemenuhan ijin usaha                               •   Rapat konsultasi (sesuai kebutuhan)
                                                      Fulfillment of business license                        Meeting consultation (as required)
                                                •     Kepatuhan terhadap peraturan perundang-
                                                      undangan
                                                      Compliance to prevailing regulations

        Mitra Bisnis (Pemasok)                  Proses tender dan seleksi.                               •   Tender pengadaan (sesuai kebutuhan)
        Business Partners (Suppliers)           Tender and selection process.                                Procurement tender (as required)
                                                                                                         •   Evaluasi pemasok (sekali setahun)
                                                                                                             Supplier evaluation (once a year)
                                                                                                         •   Pertemuan (sesuai kebutuhan)
                                                                                                             Gathering (as required)
                                                                                                         •   Perjanjian kerja sama (sesuai kebutuhan)
                                                                                                             Work agreement (as required)

        Media Massa                             Pembaruan informasi tepat waktu.                         •   Paparan Publik (setahun sekali)
        Mass Media                              Timely information update.                                   Public Expose (once a year)
                                                                                                         •   Keterbukaan informasi dalam website Perseroan
                                                                                                             (sesuai kebutuhan)
                                                                                                             Information disclosure on the Company’s website
                                                                                                             (as required)




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     Pemangku Kepentingan                         Topik/Harapan terhadap Perseroan                         Metode dan Frekuensi Pelibatan
         Stakeholders                              Topics/Expectation to the Company                     Engagement Methods and Frequencies

 Masyarakat                              •      Terjalinnya hubungan yang harmonis dengan         Pelibatan masyarakat dalam perencanaan dan
 Community                                      masyarakat sekitar menara Perusahaan              pelaksanaan kegiatan tanggung jawab sosial
                                                Establishing a harmonious relationship with the   perusahaan (sesuai kebutuhan).
                                                community around the Company’s towers             Community involvement in planning and implementing
                                         •      Meminimalisir dampak operasional Perusahaan       corporate social responsibility activities (as required).
                                                terhadap lingkungan
                                                Minimizing the impact of the Company’s
                                                operations to the environment
                                         •      Berkontribusi terhadap kehidupan ekonomi ,
                                                sosial dan lingkungan masyarakat sekitar
                                                Contributing to the economic, social and
                                                environmental life of the surrounding
                                                communities




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      PENENTUAN TOPIK MATERIAL [3-1, 3-2]
      Materiality Analysis [3-1, 3-2]


      Perseroan melakukan asesmen topik material untuk menetapkan      The Company conducts material topic assessments to identify
      fokus terhadap informasi yang diungkapkan dalam Laporan          the focus of information disclosed in the Sustainability Report.
      Keberlanjutan. Dasar utama pemilihan topik dilihat dari dampak   The primary basis for selecting topics is the impact that each
      yang dimiliki oleh masing-masing topik tersebut terhadap         topic has on the Company’s sustainability.
      keberlanjutan Perseroan.

      Secara khusus, aspek keberlanjutan dalam lingkungan GMF          Specifically, the sustainability aspect within the GMF environment
      juga dilakukan berdasarkan pernyataan visi dan misi TJSL         is aligned with the Company’s TJSL vision and mission statement,
      Perseroan, yang mengacu kepada prinsip-prinsip ISO 26000         which adhere to the principles of ISO 26000 and compliance
      dan kepatuhan terhadap POJK Nomor 51/POJK.03/2017. Secara        with POJK Number 51/POJK.03/2017. ISO 26000 outlines seven
      khusus mengenai ISO 26000, terdapat tujuh subyek inti sebagai    core subjects aimed at facilitating sustainable business growth,
      berikut untuk membantu Perseroan mencapai pertumbuhan            which the Company adopts as material topics for sustainability.
      usaha berkelanjutan. Perseroan mengadopsi tujuk subyek inti      This determination is reached through an internal discussion
      sebagai topik material dari keberlanjutan. Penentuan ini juga    process that considers the needs of both internal and external
      telah dilakukan dengan melalui proses diskusi internal yang      stakeholders. Additionally, in determining material topics, the
      memperhatikan kebutuhan pemangku kepentingan internal dan        Company seeks to identify the impact of its business activities
      eksternal. Dalam menentukan topik material, Perusahaan juga      on the economy, environment, and society.
      berupaya mengidentifikasi dampak aktivitas bisnis terhadap
      ekonomi, lingkungan, dan sosial.


                      Topik Material yang Dikembangkan Berdasarkan ISO 26000 dan Dampak Ekonomi, Lingkungan, Sosial
                            Material Topics Developed Based on ISO 26000 and Impacts on Economy, Environment, Social

          Kinerja Ekonomi                             Energi                       Air                                Limbah
        Economic Performance                          Energy                      Water                                Waste




            Ketenagakerjaan                             K3                Masyarakat Lokal                     Produk dan Jasa
              Employment                               OHS                Local Community                    Product and Services




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KOMITMEN KEBIJAKAN DAN STRATEGI KEBERLANJUTAN
                                      [A.1, 2-23]
                                                Policy Commitment and Sustainability Strategy [A.1, 2-23]

                                                               VISI TANGGUNG
                                                               JAWAB SOSIAL
                                                               VISION OF OUR SOCIAL
                                                               RESPONSIBILITY
   Mewujudkan tanggung jawab sosial perusahaan                            To realize sustainable corporate social responsibility to
  yang berkelanjutan untuk menuju Most Value MRO                                  become the Most Value MRO Company.
                      Company.


                                                         MISI TANGGUNG
                                                         JAWAB SOSIAL
                                                         MISSION OF OUR
                                                         SOCIAL RESPONSIBILITY

Menjalankan program TJSL yang mampu memberikan dampak yang berkelanjutan kepada stakeholders
sesuai dengan standar internasional (ISO 26000) maupun peraturan nasional (Peraturan Otoritas Jasa
Keuangan Nomor 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan bagi Lembaga Jasa
Keuangan, Emiten, dan Perusahaan Publik).

Running TJSL programs that are able to have a sustainable impact on stakeholders in accordance with international
standards (ISO 26000) as well as the national regulations (Regulation of Financial Services Authority No.51/
POJK.03/2017 regarding Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public
Companies).



Tujuan pelaksanaan TJSL adalah untuk membina hubungan pihak               TJSL has an objective to foster strong relations with internal and
internal dan eksternal guna mewujudkan keberlanjutan bisnis.              external parties to achieve business sustainability. The Company
TJSL eksternal bertujuan untuk mendukung pemerintah dalam                 supports the government through external TJSL to achieve
membantu pencapaian tujuan pembangunan berkelanjutan. TJSL                sustainable development goals. At the same time, internal TJSL
internal bertujuan untuk membangun hubungan harmonis dan                  will help to build a harmonious and conducive relationship with
kondusif dengan seluruh stakeholders dalam rangka mendukung               all stakeholders to support the Company’s vision and mission.
pencapaian visi dan misi Perseroan. Aktivitas TJSL diharapkan             The Company hopes to enhance its reputation and credibility
akan meningkatkan reputasi dan kredibilitas Perseroan.                    through TJSL activities.


                                                   Strategi TJSL Berdasarkan 3P
                                                    TJSL Strategies Based on 3P



                                                                 People




                                                             SUSTAINABILITY



                                                    Planet                      Profit




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      Strategi penerapan TJSL berprinsip 3P (people, profit, planet)    The TJSL strategy is based on the 3P principles (people, profit,
      berorientasi pada penciptaan nilai tambah kepada pemangku         planet) that are oriented to create added value for stakeholders
      kepentingan dan mendukung program pembangunan                     and support sustainable development programs, especially for
      berkelanjutan, terutama untuk masyarakat sekitar. Strategi ini    the surrounding community. This strategy creates an outline of
      menciptakan garis besar program kerja TJSL Perseroan sebagai      the Company’s TJSL program as follows:
      berikut:
      1. Program berkelanjutan tahunan yang disesuaikan dengan          1. Making an annual sustainable program tailored to
         kebutuhan pemangku kepentingan.                                   stakeholders’ needs.
      2. Mengelola program TJSL terintegrasi yang dapat dimonitor,      2. Managing an integrated TJSL program that can be monitored,
         termasuk dalam hal pengelolaan dana CSR.                          including its TJSL funds management.
      3. Melakukan pelaporan berkelanjutan melalui Integrated           3. Submitting continuous sustainable reports through
         Reporting yang disesuaikan dengan perundang-undangan              Integrated Reporting according to international laws and
         dan standar internasional.                                        standards.




      MENANAMKAN BUDAYA KEBERLANJUTAN SECARA
      TERUS-MENERUS [2-24, F.1]
      Embedding the Sustainability Culture Continously [2-24, F.1]
      GMF memiliki sejumlah budaya korporasi untuk membantu             GMF upholds several corporate cultures to enhance the
      menjalankan bisnis Perseroan dengan lebih baik. Hal ini penting   Company’s operation to be better. This ensures that operational
      untuk memastikan aktivitas operasional Perseroan berjalan         activities align with strong corporate values, facilitating the
      sesuai dengan nilai korporasi yang baik untuk memastikan          achievement of business objectives beneficial to shareholders
      pencapaian tujuan usaha yang bermanfaat bagi pemegang             and stakeholders.
      saham dan seluruh pemangku kepentingan.

      Budaya korporasi yang berlaku di GMF adalah:                      The corporate cultures at GMF are:
      1. Visi dan Misi Usaha                                            1. Business Vision and Mission
      2. Nilai Perusahaan AKHLAK                                        2. AKHLAK Corporate Values
      3. Budaya Kerja 3S (Smile, Speed, Solution)                       3. 3S Work Culture (Smile, Speed, Solution)
      4. Visi dan Misi Tanggung Jawab Sosial (TJSL)                     4. Vision and Mission of Social Responsibility (TJSL)

      Budaya korporasi tersebut telah menjadi satu kesatuan dan         These corporate cultures are integrated into the Company’s
      saat ini telah digunakan Perseroan untuk menjadi budaya           practices to foster a sustainable culture that governs daily
      keberlanjutan yang membantuk praktik bisnis sehari-hari.          business operations. It is the responsibility of all employees
      Menjadi tanggung jawab seluruh pegawai untuk mengamalkan          to embody these corporate cultures in their daily practices.
      setiap budaya korporasi sebagai budaya keberlanjutan dalam        Each statement of corporate culture serves as a fundamental
      praktik bisnis sehari-hari. Setiap pernyataan dari budaya         principle guiding interactions among employees and partners,
      korporasi telah menjadi prinsip dasar dalam berinteraksi baik     forming the foundation for workplace behavior.
      antar sesama karyawan maupun terhadap mitra kerja serta
      menjadi landasan dalam berperilaku di tempat kerja.

      Budaya korporasi GMF telah diinformasikan kepada seluruh          GMF’s corporate culture is communicated to and applicable for all
      pegawai dan berlaku bagi seluruh Insan GMF termasuk anggota       employees, including members of the Board of Commissioners
      Dewan Komisaris dan Direksi, serta para organ pendukungnya.       and Directors, and their supporting organs. Continuous efforts
      Upaya penanaman budaya korporasi dan internalisasi yang           are made to reinforce and internalize corporate culture through
      lebih intensif terus dilakukan melalui berbagai saluran media     various internal media channels of GMF, including a dedicated
      internal GMF mencakup intranet khusus untuk pegawai, email        intranet for employees, email communication, and banners.
      blast, serta spanduk.




      Laporan Terintegrasi 2023 Integrated Report                                                PT Garuda Maintenance Facility Aero Asia Tbk
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                                  KENDALA, TANTANGAN, DAN PELUANG [E.5]
                                                             Obstacles, Challenges, and Opportunities [E.5]


Secara garis besar, upaya keberlanjutan yang dijalankan           Overall, the Company’s sustainability endeavors have been
Perseroan telah berjalan dengan baik dan tercermin dalam          successful, evident in its daily business practices. GMF continues
praktik bisnis yang dijalankan Perseroan setiap harinya.          to make economic contributions, positively affect the society,
Perseroan tetap mampu berkontribusi secara ekonomi,               preserve the environment, and protect the human rights of its
memberikan dampak positif bagi masyarakat, membantu               employees. However, the current challenge lies in maintaining this
melestarikan lingkungan, dan melindungi hak asasi manusia         positive performance consistently and expanding sustainability
dari para pegawai. Dengan demikian, tantangan yang dihadapi       efforts for broader and long-term benefits.
Perseroan saat ini adalah konsistensi dalam mempertahankan
kinerja positif dan mengembangkan upaya keberlanjutan agar
dapat memberikan dampak yang lebih luas dan bermanfaat
secara jangka panjang.

Konsistensi menjadi sebuah tantangan namun juga menjadi           Consistency poses both a challenge and an opportunity when
peluang ketika Perseroan berhasil meningkatkan kinerja dan        the Company has to strive in sustaining its positive performance,
memperluas cakupan komitmen ke dalam aspek operasional            yet it offers opportunities for improvement and broadening
lainnya. Perseroan akan mendorong karyawan untuk mengikuti        commitments to other operational aspects. The Company plans
berbagai program pelatihan terkait keberlanjutan untuk            to encourage employee participation in various sustainability-
memperkaya kebijakan internal dan meningkatkan penerapannya       related training programs to enhance internal policies and daily
di dalam aktivitas operasional sehari-hari. Saat menjalankan      business practice. By responsibly managing operational waste,
bisnis yang bertanggung jawab dalam hal keberlanjutan, seperti    reducing emissions, and fostering a culture of energy efficiency,
saat mengelola limbah operasional, mengurangi emisi, dan          GMF can indirectly bolster its business operations.
menekankan budaya sadar efisiensi energi, secara tidak langsung
akan berdampak positif terhadap bisnis Perseroan.

Dukungan dari pemangku kepentingan akan memastikan                Stakeholder support is crucial for ensuring the continuity of
keberlangsungan bisnis GMF dan memastikan aktivitas               GMF’s business and seamless operational activities without
operasional berjalan dengan lancar tanpa adanya hambatan.         any obstacle.




PT Garuda Maintenance Facility Aero Asia Tbk                                                 Laporan Terintegrasi 2023 Integrated Report
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      MEMAKSIMALKAN KINERJA EKONOMI
      Maximizing Economic Performance


      PENGUNGKAPAN MANAJEMEN TOPIK                                              DISCLOSURE OF MATERIAL TOPIC
      MATERIAL [3-3]                                                            MANAGEMENT [3-3]

      Perseroan memilih kinerja ekonomi sebagai salah satu topik                The Company has identified economic performance as a critical
      material dalam pelaporan keberlanjutan karena ini merupakan               aspect in its sustainability reporting due to its significant influence
      sebuah isu yang sangat berpengaruh bagi para pemegang                     on shareholders and stakeholders. Economic performance plays
      saham dan pemangku kepentingan. Pentingnya kinerja ekonomi                a crucial role in ensuring the continuous operation of business
      Perseroan tentunya sangat berpengaruh dalam memastikan                    activities and, most importantly, in fostering GMF’s efforts to
      aktivitas bisnis tetap berjalan, dan yang terutama, mampu                 generate positive impacts for various stakeholders.
      mendorong upaya GMF untuk memberikan dampak positif
      bagi banyak pihak.

      Kinerja ekonomi positif yang dihasilkan Perseroan berdampak               A positive economic performance from the Company generates
      kepada imbal hasil yang diharapkan pemegang saham,                        several beneficial outcomes, including expected returns for
      pembayaran pajak kepada pemerintah, pembayaran gaji                       shareholders, tax contributions to the government, timely
      pegawai, dan juga keberlanjutan bisnis yang memaksimalkan                 payment of employee salaries, and the enhancement of business
      kerja sama dengan para mitra bisnis. Selain itu, masyarakat               sustainability through effective collaborations with partners.
      sekitar yang berada di area operasional juga dapat merasakan              Furthermore, local communities in operational areas can also
      dampak dari kinerja ekonomi yang baik terutama saat porsi                 benefit from favorable economic performance, especially when
      anggaran program TJSL juga meningkat seiring dengan neraca                the budget allocation for the TJSL program increases along with
      keuangan GMF yang positif.                                                GMF’s positive financial performance.

      Sebagai entitas bisnis yang bertanggung jawab, GMF                        As a responsible corporate entity, GMF placed a high priority on
      mengedepankan transparansi dalam mengungkapkan kinerja                    transparency in disclosing economic performance. Transparent
      ekonomi. Transparansi kinerja ekonomi dapat mendorong                     reporting of economic performance fosters employee awareness
      seluruh karyawan untuk menjalankan tugasnya dengan penuh                  and integrity, ensuring adherence to internal controls within the
      kesadaran dan penuh integritas untuk tidak menyimpang dari                Company. Additionally, stakeholders including shareholders,
      pengendalian internal yang berlaku di Perseroan. Pemegang                 regulators, and the public have access to comprehensive
      saham, pemangku kepentingan, regulator, dan publik memiliki               information regarding the Company’s performance through
      akses informasi mengenai kinerja Perseroan melalui laporan                periodic reports and public disclosures facilitated by GMF.
      berkala dan paparan publik yang biasa dilakukan GMF.

      NILAI EKONOMI [201-1, F.3]                                                ECONOMIC VALUE [201-1, F.3]

                                                      Nilai Ekonomi yang Diperoleh dan Didistribusikan
                                                           Generated and Distributed Economic Value
                                         KETERANGAN                                       2023                  2022                      2021
                                         DESCRIPTION                                      (USD)                 (USD)                    (USD)

        Nilai Ekonomi yang Dihasilkan
        Generated Economic Value

        Pendapatan Usaha                                                                   373,206,984           238,703,893                210,593,315
        Revenue

        Jumlah Nilai Ekonomi yang Dihasilkan (A)                                           373,206,984           238,703,893                210,593,315
        Total Generated Economic Value (A)

        Nilai Ekonomi yang Didistribusikan
        Distributed Economic Value

        Beban Usaha*                                                                     (345,505,584)            213,836,674             305,088,245
        Operating Expenses*

        Beban Pajak Penghasilan                                                                438,665               1,874,974              15,708,504
        Income Tax Expense




      Laporan Terintegrasi 2023 Integrated Report                                                           PT Garuda Maintenance Facility Aero Asia Tbk
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                                                Nilai Ekonomi yang Diperoleh dan Didistribusikan
                                                     Generated and Distributed Economic Value
                                  KETERANGAN                                       2023                2022                     2021
                                  DESCRIPTION                                      (USD)               (USD)                   (USD)

 Jumlah Penyaluran Dana TJSL                                                           12,713.18            517,540                  353,098
 Funding to finance the TJSL

 Jumlah Nilai Ekonomi yang Didistribusikan (B)                                     355,450,487          311,462,838                413,144,611
 Total Distributed Economic Value (B)

 Nilai Ekonomi yang Ditahan (A-B)                                                     17,756,497        (72,758,945)            (202,551,296)
 Retained Economic Value (A-B)

 Catatan | Notes:
 *Beban Usaha sudah mencakup Beban Pegawai, Beban Material, dan beban operasional lainnya sesuai yang disajikan dalam Laporan Keuangan
 Teraudit untuk Tahun Buku 2023. | Operating Expenses have covered Emplyoee Expenses, Material Expenses, and other operating expenses in
 accordance with the information presented in the Audited Financial Statements for the Financial Year of 2023.


Jumlah nilai ekonomi yang dihasilkan Perseroan didapatkan                 The economic value generated by the Company primarily stems
hanya dari pendapatan usaha yang dapat dianalisa dalam tiga               from business income, which can be divided into three main
komponen utama yaitu Reparasi dan Overhaul, Perawatan, dan                components: Repairs and Overhaul, Maintenance, and Other
Operasi Lain-Lain. Perseroan tidak menghasilkan pendapatan                Operations. The Company does not generate income from
dari sumber lain, termasuk instrument keuangan dari hasil                 other sources, such as financial instruments resulting from
penawaran umum bersifat ekuitas. Sedangkan jumlah nilai                   equity public offerings. Meanwhile, the distributed economic
ekonomi yang didistribusikan mencakup beban usaha, beban                  value was paid for business expenses, employee expenses
pegawai (biaya gaji dan tunjangan pegawai, insentif, biaya                (including salaries and employee benefits, incentives, pension
kontribusi dana pensiun, imbalan kerja, dan biaya pegawai                 fund contribution costs, employee rewards, and other employee
lainnya), pembayaran pajak penghasilan, dan penyaluran dana               costs), income tax payments, and fundings for TJSL.
TJSL.

Pada tahun 2023, nilai ekonomi yang ditahan mencapai USD17,75             In 2023, the retained economic value reached USD17.75 million,
juta dan nilai ini lebih tinggi 24,5% dari tahun sebelumnya               marking a 24.5% increase compared to the previous year when
ketika GMF mencatatkan nilai negatif pada nilai ekonomi yang              GMF reported a negative retained economic value of USD72.76
ditahan yaitu sebesar USD14,26 juta. Terjadi peningkatan pada             million. This increase in retained economic value between 2023
pendapatan usaha yang menyebabkan perbedaan nilai ekonomi                 and 2022 was primarily generated by the increase in revenues.
yang ditahan pada tahun 2023 dibandingkan 2022.

Perseroan mengalami nilai negatif selama 2021-2022 pada nilai             The Company faced negative retained economic value during the
ekonomi yang ditahan. Pendapatan usaha Perseroan selama                   2021-2022 period, despite an increase in revenues. However,
dua tahun tersebut juga mengalami peningkatan, namun                      this rise was insufficient to cover expenses and liabilities
belum cukup untuk menutupi beban dan kewajiban pada porsi                 associated with the distributed portion of economic value.
nilai ekonomi yang didistribusikan. Hal ini juga terjadi seiring          This situation was caused by the travel restrictions imposed due
dengan nilai ekuitas Perseroan yang negatif akibat pembatasan             to the high number of COVID-19 cases, leading to a negative
perjalanan karena tingginya kasus COVID-19. Seiring dengan                equity value for the Company. As the aviation industry gradually
semakin membaiknya industri penerbangan dan penurunan                     rebounds and travel restrictions are lifted, GMF enjoys revenue
jumlah kasus COVID-19, serta pembebasan pembatasan                        growth that will surpass its obligations, resulting in positive
perjalanan, pendapatan Perseroan semakin bertumbuh                        retained economic value for 2023. This underscores GMF’s
melampaui kewajiban dan menghasilkan nilai ekonomi ditahan                ability to capitalize on opportunities for industry improvement.
yang positif pada tahun 2023. Hal ini membuktikan bahwa GMF
mampu mengambil kesempatan dari peluang perbaikan industri.




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388                                                                                                                    Laporan Keberlanjutan
                                                                                                                          Sustainability Report




      IMPLIKASI FINANSIAL DAN RISIKO LAINNYA                              FINANCIAL IMPLICATIONS AND OTHER RISKS
      AKIBAT PERUBAHAN IKLIM [201-2]                                      DUE TO CLIMATE CHANGE [201-2]

      Isu perubahan iklim telah menjadi perhatian serius secara global,   The issue of climate change has gained significant global
      termasuk di Indonesia. Perseroan juga memperhatikan isu ini         attention, including in Indonesia. The Company is also deeply
      sebagai salah satu pertimbangan dalam melakukan aktivitas           concerned about this matter and being mindful of climate
      operasional, terutama yang berkaitan dengan maintenance             change implications in its operational activities, particularly
      dan reparasi pesawat.                                               those associated with aircraft maintenance and repair.

      Operasional maintenance yang dilakukan GMF menghasilkan             GMF’s maintenance operations generate waste, including B3
      limbah yang terdiri dari limbah B3 dan limbah lainnya. Penjelasan   (hazardous) waste and other forms of waste, as elaborated in the
      lebih lanjut dapat ditemukan pada pembahasan Upaya                  Environmental Conservation Efforts section of this Sustainability
      Pelestarian Lingkungan dalam Laporan Keberlanjutan ini.             Report.

      Pengelolaan limbah operasional telah dilakukan sejak pertama        Operational waste management has been a priority for GMF
      kali GMF dibentuk. Perseroan mengikuti standar operasional          since being founded in the first time. The Company adheres
      sesuai regulasi yang berlaku dan selalu mengembangkan               to operational standards stipulated by relevant regulations
      diri untuk mengikuti ketentuan yang ada. Implikasi finansial        and continually improves its practices to ensure compliance.
      dari aktivitas ini tidak membawa dampak material karena             Financially, waste management activities have not generated
      pengelolaan limbah sudah menjadi bagian dari aktivitas              any material impact as they are integrated into GMF’s daily
      operasional GMF sehari-hari. Selain itu pengelolaan limbah juga     operations. Moreover, waste management activities have no
      tidak mendatangkan risiko lainnya yang dapat mempengaruhi           additional risks that could adversely affect GMF; rather, they
      GMF, bahkan sebaliknya, GMF turut berkontribusi dalam               contribute positively to preserving the nature, particularly by
      melindungi kelestarian bumi, terutama dari sisi pencemaran          mitigating pollution and safeguarding water quality.
      yang dapat mempengaruhi kualitas air.

      IMPLIKASI PASCA-KERJA PEGAWAI [201-3]                               EMPLOYEES POST-EMPLOYMENT BENEFITS
                                                                          IMPLICATION [201-3]

      Perseroan memberikan imbalan pascakerja untuk karyawan              The Company provides post-employment benefits to employees
      sesuai dengan Undang-Undang Ketenagakerjaan No. 13/2003.            in accordance with Employment Law No. 13/2003. In 2021, the
      Pada tahun 2021, Perusahaan telah menerapkan Undang-                Company has implemented Law No. 11 of 2020 concerning
      Undang No. 11 Tahun 2020 tentang Cipta Kerja.                       Job Creation.

      Perseroan menyediakan imbalan pasca-kerja berupa program            The Company provides post-employment defined contribution
      iuran pasti dan manfaat pasti dan imbalan kerja jangka panjang      plans, defined post-employment plans and other long-term
      lain untuk karyawan yang memenuhi persyaratan program.              benefits covering its qualifying employees for each program.
      Sesuai dengan amandemen Perjanjian Kerja Bersama (PKB)              In accordance with the amendments to the Cooperation
      dan Peraturan Grup (PP) pada tahun 2016, Perseroan                  Employment Agreement (PKB) and the Company Regulation (PP)
      menyelenggarakan tambahan program pensiun iuran pasti.              in 2016, the Company provides an additional defined contribution
      Oleh karena itu Perseroan mengikutsertakan karyawannya              pension plan. Accordingly, the Company enrolled its employees
      dalam program pensiun iuran pasti yang dikelola BNI. Perseroan      in the defined contribution pension program which is managed
      membayar kontribusi iuran sebesar 6% dari gaji dasar pegawai        by Dana Pensiun Lembaga Keuangan (DPLK) BNI. The Company
      dan ditambah iuran khusus untuk pegawai yang akan pensiun.          pays a contribution fee of 6% of employees’ basic salaries and
                                                                          additional specific contributions for retiring employees.

      Beban iuran pasti yang diakui dalam beban operasi sebesar           Contribution expenses recognised under operating expenses
      USD3.10 juta pada tahun 2023.                                       amounted to USD3.10 juta in 2023.




      Laporan Terintegrasi 2023 Integrated Report                                                  PT Garuda Maintenance Facility Aero Asia Tbk
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BANTUAN FINANSIAL YANG DITERIMA DARI                                        FINANCIAL ASSISTANCE RECEIVED FROM
PEMERINTAH [201-4]                                                          GOVERNMENT [201-4]

Sepanjang tahun 2023, Perseroan tidak mendapatkan                           Throughout 2023, the Company did not receive financial
bantuan finansial dari pemerintah. Namun demikian, dengan                   assistance from the government. However, the “Bonded &
Kebijakan Ekonomi yang dikeluarkan oleh pemerintah yaitu                    Inventory Control” policy issued by the government regarding
“Bonded & Inventory Control” terkait penetapan tarif 4 HS serta             the 4 HS tariff and the exemption/amendment of the 21 HS
pembebasan/perubahan persentase Bea Masuk (BM) 21 HS                        Code of Import Duty (BM) to 0% greatly eased the Company’s
Code menjadi 0% sangat meringakan beban Perseroan karena                    expenses in terms of imported parts for aircraft maintenance.
diberlakukan untuk kategori part yang sering diimpor oleh GMF
guna menunjang perawatan pesawat.

PROPORSI PENGELUARAN UNTUK PEMASOK                                          SPENDING PROPORTION FOR LOCAL
LOKAL [204-1]                                                               SUPPLIERS [204-1]

Selama tahun 2023, Perseroan telah mengalokasikan                           In 2023, the Company spent Rp91,309,728,751.08 for
pengeluaran untuk pemasok sebesar Rp91,309,728,751.08                       suppliers which consist of national suppliers, amounted
yang terdiri dari pemasok nasional Rp9,960,692,808.12 dan                   Rp9,960,692,808.12 and local suppliers, amounted
pemasok lokal Rp81,349,035,942.96.                                          Rp81,349,035,942.96.

Keberadaan pemasok sangat penting bagi kelancaran usaha                     Supplier is also an important part for the Company to ensure its
dan Perseroan selalu menekankan proses pengadaan yang                       business runs smoothly and the Company always emphasizes a
transparan dan adil. Perseroan memastikan hak dan kewajiban                 transparent and fair procurement process. The Company creates
pemasok selalu terpenuhi melalui kontrak kerja yang berkekuatan             a working contract with legal force to ensure that the rights
hukum untuk menjaga tingkat kepercayaan kedua belah pihak.                  and obligations of suppliers are always fulfilled and maintain
                                                                            the trust level of both parties.


                                                          Pemasok Barang dan Jasa
                                                        Suppliers of Goods and Services
                                                                                             Nilai Kontrak Pekerjaan (Rp Juta)
                                                                                                      di luar PPN 10%
                                                  Jumlah Pemasok
             Asal Pemasok                                                                        Contract Values (Rp Million)
                                                   Total Suppliers
            Suppliers’ Origins                                                                       Excluding 10% VAT


                                                2023           2022                     2023                                2022

 Pemasok Barang
 Supplier of Goods

 Nasional                                              0                0                               0                                       0
 National

 Lokal                                                  3               6                 1,925,674,139.96                    38,196,890,233.05
 Local

 Jumlah
                                                       3                6               1,925,674,139.96                    38,196,890,233.05
 Total

 Pemasok Jasa
 Supplier of Services

 Nasional                                              18              12               9,960,692,808.12                       2,365,089,444.00
 National

 Lokal                                                 18              24              79,423,361,803.00                        49,810,811,945.78
 Local

 Jumlah
                                                       36              37              89,384,054,611.12                      52,228,679,167.78
 Total




PT Garuda Maintenance Facility Aero Asia Tbk                                                            Laporan Terintegrasi 2023 Integrated Report
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390                                                                                                                   Laporan Keberlanjutan
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      UPAYA PELESTARIAN LINGKUNGAN
      Environmental Conservation Efforts


      PENGUNGKAPAN MANAJEMEN TOPIK                                      DISCLOSURE OF MATERIAL TOPIC
      MATERIAL [3-3]                                                    MANAGEMENT [3-3]

      Perseroan memastikan bahwa proses operasional tidak               The Company always makes sure that the operation does not
      memberikan dampak negatif terhadap lingkungan hidup,              harm the environment, especially the surrounding area. The
      terutama daerah sekitar operasi. Pengelolaan kegiatan sosial      environmental and health management is under the Quality,
      bidang lingkungan dan kesehatan dilaksanakan oleh unit Quality,   Health, Safety and Environment (QHSE) unit that lies under
      Health, Safety and Environment (QHSE), yang berada di bawah       the Corporate Affairs & HSE Department. This unit manages
      Dinas Corporate Affairs & HSE. Unit ini mengelola sejumlah        several aspects of environment and occupational health and
      aspek yang berkaitan dengan lingkungan hidup dan kesehatan,       safety (OHS) according to the ISO 14001:2015 of Environmental
      keselamatan kerja (K3) yang sesuai sertifikasi ISO 14001:2015     Management System (SML). The discussion this time focuses
      Sistem Manajemen Lingkungan (SML). Pembahasan kali ini            on the management function in the environmental sector, while
      difokuskan kepada fungsi pengelolaan di bidang lingkungan,        the discussion related to OHS is available in the Appreciation and
      sedangkan pembahasan terkait K3 dapat dibaca di pembahasan        Protection of Our Employees after this discussion. Additionally,
      mengenai Menghargai dan Melindungi Pegawai setelah                the environmental program with impact on the community has
      pembahasan ini. Sedangkan pembahasan program lingkungan           been disclosed in the TJSL programs.
      yang bermanfaat bagi masyarakat telah diungkapkan dalam
      program TJSL.

      Perseroan memiliki sertifikasi ISO 14001:2015 Sistem              The Company has ISO 14001:2015 Environmental Management
      Manajemen Lingkungan (SML) yang baru diperpanjang pada 24         System (SML) certification which has been extended on June 24,
      juni 2021 dan berlaku hingga 24 juni 2024. Pada bulan Juni 2024   2021, and is valid until June 24, 2024. On June 2024 has been
      dijadwalkan untuk pelaksanaan renewal Audit ISO 14001:2015.       scheduled to have a renewal Audit of ISO 14001:2015. This is
      Ini merupakan sertifikasi berstandar internasional mengenai       an international certification on environmental management to
      pengelolaan lingkungan untuk mengidentifikasi isu internal,       identify internal, external, and environmental issues.
      eksternal, dan dampak lingkungan.

      Sistem ini diharapkan dapat membantu Perseroan meminimalkan       This system is expected to help the Company minimize the
      dampak negatif dari kegiatan operasional dan memberikan           negative impact of the operation and bring a positive impact
      dampak positif bagi lingkungan. Sistem ini juga menjadi bagian    on the environment. This system is also integrated with the
      integrasi dari sistem manajemen perusahaan secara keseluruhan     overall management system which includes the organizational
      yang meliputi struktur organisasi, tanggung jawab, prosedur,      structure, responsibilities, procedures, processes, and resources
      proses, serta sumber daya dalam mewujudkan kebijakan              in realizing environmental policies.
      lingkungan.

      AKTIVITAS TAHUN 2023                                              ACTIVITIES IN 2023

      Perseroan telah menjalankan sejumlah aktivitas untuk menjaga      The Company has conducted several activities to protect the
      lingkungan hidup dari dampak negatif aktivitas operasi sebagai    environment from the negative impacts of operations as follows:
      berikut:
      1. Pelaksanaan program zero budget hazardous waste                1. Implemented the zero-budget hazardous waste management
          management;                                                      program;
      2. Berpartisipasi dalam program Earth Hour dan melaksanakan       2. Participated at the Earth Hour and implemented GMF Fit;
          GMF Fit;
      3. Pelaksanaan pengendalian dan pemantauan lingkungan             3. Implemented the environmental and work environment
          dan lingkungan kerja, bekerjasama dengan penyedia jasa           control and monitoring in collaboration with certified
          laboratorium lingkungan bersertifikasi;                          environmental laboratory service;
      4. Pelaksanaan pelaporan elektronik pengelolaan limbah B3         4. Implemented the electronic reporting on hazardous (B3)
          per tiga bulan kepada Kementerian Lingkungkan Hidup dan          waste management every three months to the Ministry of
          Kehutanan melalui sistem SIMPEL KLHK;                            Environment and Forestry through the KLHK SIMPEL system;
      5. Melakukan pengangkutan secara rutin untuk menimalisir          5. Regular transportation to minimize potential pollution;
          potensi pencemaran;



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6. Penerapan program Continuous Saving Energy, yaitu             6. Implemented the Continuous Energy Saving program, which
    pengurangan penggunaan energi listrik berupa pemadaman          includes reducing the use of electrical energy by turning off
    lampu kantor pada jam istirahat, pengurangan penggunaan         office lights during break times and reducing the use of AHU
    AHU setelah office hour (setelah pukul 16.00 WIB);              after office hours (after 16:00 WIB);
7. Penerapan program pemadaman area Perseroan setiap             7. Turned off the Company’s area for one hour at the end of
    akhir bulan selama satu jam;                                    each month;
8. Penerapan solar cell sebagai penghasil energi terbarukan      8. Installed solar cells as renewable energy sources in the
    yang terpasang pada Gedung Maintenance Support Facility         Maintenance Support Facility (MSF) Building and Ground
    (MSF) dan Gedung Ground Support Equipment (GSE);                Support Equipment (GSE) Building;
9. Peniadaan penggunaan kendaraan jemputan (shuttle bus) di      9. Eliminated shuttle bus operation inside and outside the area,
    dalam dan di luar area sehingga berimbas pada penghematan       resulting in savings fuel consumption;
    konsumsi BBM;
10. Peniadaan beberapa kendaraan dinas personal di lingkungan    10. Eliminated several personal service vehicles within the
    Perseroan.                                                       Company.

PERIZINAN LINGKUNGAN                                             ENVIRONMENTAL PERMIT

Perseroan telah memiliki izin lingkungan untuk melaksanakan      The Company has an environmental permit issued by the
kegiatan operasional yang diterbitkan oleh Pemerintah Kota       Tangerang City Government to carry out operational activities.
Tangerang. Izin tersebut mencakup Dokumen Izin Lingkungan        Those permits include Environmental Permit Documents of
berupa Dokumen Evaluasi Lingkungan Hidup (DELH) dan Analisis     Environmental Evaluation Documents (DELH) and Environmental
Mengenai Dampak Lingkungan (AMDAL) ketika melakukan              Impact Analysis (AMDAL) when finished constructing the new
pembangunan Hangar 4. Perseroan telah memenuhi kewajiban         Hangar 4. The Company has fulfilled the obligation to prepare
pembuatan Laporan Rencana Pengelolaan dan Pemantauan             the Environmental Management and Monitoring Plan Report
Lingkungan (RKL-RPL) ketika memenuhi perizinan lingkungan        (RKL-RPL) when filling out the environmental permit. Those
tersebut. Laporan telah diberikan pada instansi terkait, yaitu   reports have been submitted to the relevant agencies including
Dinas Lingkungan Hidup dan Kehutanan Provinsi Banten, Dinas      the Banten Province Environment and Forestry Service, the
Lingkungan Hidup Kota Tangerang, dan Pusat Pengendalian          Tangerang City Environmental Service, and the Java Ecoregion
Pembangunan Ekoregion Jawa.                                      Development Control Center.

PENANGANAN INSIDEN YANG MENCEMARI                                HANDLING INCIDENTS THAT POLLUTE THE
LINGKUNGAN                                                       ENVIRONMENT

Perseroan terus berupaya untuk mengelola dan memantau            The Company continues to manage and monitor the environment
lingkungan dari dampak negatif operasional usaha melalui         from any negative impact of operation through HSE Procedure
Prosedur HSE 6-01 tentang Pemantauan dan Pengukuran              6-01 concerning Monitoring and Measurement of HSE
Kinerja HSE. Pengukuran dilaksanakan berdasarkan dokumen         Performance. The measurement is based on DELH and AMDAL
DELH dan AMDAL yang telah dimiliki Perseroan. Jika terjadi       that the Company owns. If there is a discrepancy, when the result
ketidaksesuaian, seperti hasil pengukuran tidak memenuhi         does not meet the quality standard, an HSE Inspection will be
baku mutu, maka akan dilaksanakan Inspeksi K3L sesuai dengan     carried out according to the HSE 5-13 Procedure as a basis for
Prosedur HSE 5-13 yang berujung pada penerbitan evaluasi dan     evaluation and recommendations in the QHSE Report. In 2023, in
rekomendasi dalam dokumen QHSE Report. Pada tahun 2023,          general, the environmental measurement had met the standards
secara garis besar, hasil pengukuran lingkungan memenuhi baku    reference (wastewater quality, ambient air quality, air emission-
mutu yang menjadi acuan (kualitas air limbah, kualitas udara     quality from stationary sources, and environmental noise).
ambien, kualitas emisi udara dari sumber tidak bergerak, dan
kebisingan lingkungan).




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      PENGGUNAAN MATERIAL DAN UPAYA                                      MATERIAL USAGE AND EFFICIENCY EFFORTS
      EFISIENSI

      Material merupakan bahan-bahan/materi-materi dasar yang            Materials are the basic materials that the Company used in
      digunakan dalam kegiatan yang dilakukan Perseroan. Material        the operation. The materials in business processes include fuel
      yang digunakan dalam proses bisnis mencakup bahan bakar            oil (diesel) for transportation of ground support equipment,
      minyak (solar) untuk transportasi ground support equipment,        hazardous and toxic materials (B3) or chemicals, and paper
      bahan berbahaya dan beracun (B3) atau kimia, serta penggunaan      for administration purposes. These raw materials are not
      kertas untuk administrasi. Bahan baku tersebut bukan bahan         taken directly from nature but are purchased from suppliers.
      baku yang langsung diambil dari alam (raw material), melainkan     Information on how much material the Company used in 2023
      dibeli dari pemasok eksternal (supplier). Informasi volume         is as follows:
      penggunaan material pada tahun 2023 adalah sebagai berikut:


                                                                                                                   Kenaikan (Penurunan)
                Jenis Material                    Satuan         Volume 2023               Volume 2022
                                                                                                                    Increase (Decrease)
                 Material Type                     Unit          2023 Volume               2022 Volume
                                                                                                                        2022-2023

        Solar                                         Liter                397,879                  652,597.94                       -64.02%
        Solar

        Kimia                                         Ton                   830.44                       778.2                          6.71%
        Chemistry

        Kertas                                        Rim                 20,015.16                     11,777.4                      69.95%
        Paper


      Pada tahun 2023 terjadi penurunan solar menjadi 397,879            In 2023, the Company used less diesel amounting to 397,879
      liter atau 39% lebih rendah dari tahun 2022. Penurunan ini         liters or 39% lower than in 2022. It occurred due to lower usage
      terjadi karena pengurangan unit forklift yeng menggunakan          of fuel-powered forklifts, replaced by electric-powered forklifits.
      BBM digantikan unit forklift dengan tenaga listrik. Perusahaan     The Company also reduced in utilizing transportation modes. The
      juga mengurangi penggunaan moda transportasi. Penggunaan           Company used more chemical materials in 2023 amounting to
      material kimia Perseroan pada tahun 2023 juga meningkat            830.44 tons or 7% higher compared to 2022. The increase was
      menjadi sebesar 830.44 ton atau 7% lebih tinggi dibandingkan       in line with the increase in operational activities.
      tahun 2022. Hal ini dikarenakan terdapat peningkatan aktivitas
      operasional.

      Perseroan terus menjaga penggunaan material kimia dengan           The Company constantly manages the utilization of chemicals
      terus mempertahankan sistem consignment yang terbilang             using a consignment system that has been effective until
      efektif. Melalui sistem ini, ketika material tersebut tidak        this moment. This system allows the Company to return the
      digunakan di Perseroan maka dapat dikembalikan kembali             chemicals to suppliers when not in use. This is the Company’s
      ke pihak supplier. Ini merupakan upaya Perseroan dalam             effort to reduce the heap of hazardous waste from sources.
      mengurangi timbulan limbah B3 dari sumber.

      Sementara itu, penggunaan material kertas tahun 2023               Meanwhile, in 2023, the Company used 20,015.16 reams of
      mengalami peningkatan menjadi sebesar 20,015.16 rim                paper, higher by 70% compared to 2022. This increase occurred
      atau naik 70% dibandingkan tahun 2022. Hal ini dikarenakan         because of higher operational activities. The Company has
      peningkatan operasional. Berbagai inisiatif yang terus dilakukan   conducted several initiatives from year to year as follows:
      dari tahun ke tahun yaitu:
      1. Dokumen internal dan eksternal dibuat dalam bentuk softcopy     1. Making the internal and external documents in softcopy with
         dengan pengesahan berupa barcode atau e-signature.                 a stipulation in form of barcode or e-signature.
      2. Pembatasan penggunaan printer, dokumen diarahkan dalam          2. Limiting the printer use, urging the document to be in
         bentuk softcopy.                                                   softcopy.
      3. Penggunaan printer log-in system sehingga karyawan dapat        3. Using a log-in system when printing allowing employees
         memilih terlebih dahulu file yang akan dicetak dan dapat           to select the files first before printed and cancel anytime.
         membatalkan rencana pencetakan.
      4. Efisiensi penggunaan kertas dalam aktivitas Perseroan.          4. Using paper efficiently.
      5. Penggunaan kertas reuse dan cetak bolak-balik untuk             5. Using used paper and print double-sided.
         dokumen kerja.
      6. Kampanye penghematan kertas melalui stiker yang                 6. Promoting the safe-paper campaign through stickers on
         ditempelkan pada mesin printer dan fotocopy.                       printers and photocopy machines.



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EFISIENSI PENGGUNAAN ENERGI [F.6, F.7]                                 EFFICIENT ENERGY USAGE [F.6, F.7]

Perseroan membutuhkan energi listrik dan Bahan Bakar                   The Company needs electricity and fuel (BBM) from non-
Minyak (BBM) yang berasal dari sumber tidak terbarukan untuk           renewable sources. The Company uses electricity from the State
menjalankan kegiatan usahanya. Perseroan menggunakan                   Electricity Company (PLN) to power the operational facilities and
energi listrik yang dihasilkan oleh Perusahaan Listrik Negara          infrastructures. Meanwhile, BBM is used for operational vehicles.
(PLN) sebagai sumber daya fasilitas, sarana, dan prasarana yang
terdapat di lingkungan operasional. Sedangkan BBM digunakan
untuk kendaraan operasional.

Selain menghitung penggunaan energi dalam satuan masing-               In addition to calculating the energy individually, the Company
masing, Perseroan juga menghitung penggunaan energi yang               also converted the unit into GigaJoule (GJ) with the following
dikonversikan ke dalam satuan energi GigaJoule (GJ) dengan             values:
nilai konversi sebagai berikut:
1. 28,58 liter BBM = 1 GJ Energi                                       1. 28.58 liters of fuel = 1 GJ of Energy
2. 277,78 kwh listrik = 1 GJ Energi                                    2. 277.78 kwh of electricity = 1 GJ of Energy

Informasi volume penggunaan energi pada tahun 2023 adalah              Information on the volume of energy usage in 2023 is as follows:
sebagai berikut:


                                                     Penggunaan Energi Pada Tahun 2023
                                                            Energy Usage in 2021
                                                                                                                 Kenaikan (Penurunan)
        Jenis Material                     Satuan               Volume 2023              Volume 2022
                                                                                                                  Increase (Decrease)
         Material Type                      Unit                2023 Volume              2022 Volume
                                                                                                                      2022-2023

 BBM                                        Liter                        334,450                    375,247                        (10.87%)
 Fuel

 Listrik                                    Kwh                        19,453,362                 19,942,237                        (2.45%)
 Electricity

 BBM                                            GJ                       11,702.2                    13,129.7                      (10.87%)
 Fuel

 Listrik                                        GJ                       70,031.5                    71,791.5                       (2.45%)
 Electricity

 Jumlah
                                                GJ                       81,733.7                  84,921.2                        (3.75%)
 Total



Tabel menunjukkan penggunaan energi Perseroan sepanjang                The table above shows that the Company’s energy use
tahun 2023 berkurang menjadi 81,733.7 GJ atau 3.75% lebih              throughout 2023 has decreased to become 81,733.7 GJ or
rendah dibandingkan tahun sebelumnya. Pengurangan ini                  3.75% lower compared to the previous year. Lower energy usage
merupakan hasil dari upaya Perseroan secara berkelanjutan              could only be achieved because of the Company’s continuous
untuk mengurangi konsumsi energi sebagai berikut: [F.12]               efforts as follows: [F.12]
1. Penerapan program Continuous Saving Energy, yaitu                   1. Conducted the Continuous Saving Energy program to reduce
   pengurangan penggunaan energi listrik berupa pemadaman                  electricity use, where the Company turns off the lights during
   lampu kantor pada jam istirahat, pengurangan penggunaan                 break time, reducing AHU usage after office hours (after
   AHU setelah office hour (setelah pukul 16.00 WIB).                      16.00 WIB).
2. Penerapan program pemadaman area Perseroan setiap                   2. Put off the Company’s area (blackout) at the end of every month
   akhir bulan selama 1 jam. Program ini berhasil membuat                  for 1 hour. This program successfully helped the Company in
   Perseroan melakukan efisiensi konsumsi listrik.                         becoming more efficient in its electricity consumption
3. Penerapan solar cell sebagai penghasil energi terbarukan            3. Use solar cells as renewable energy sources at the
   yang terpasang pada Gedung Maintenance Support Facility                 Maintenance Support Facility (MSF) and Ground Support
   (MSF) dan Gedung Ground Support Equipment (GSE). Selama                 Equipment (GSE) Buildings. In 2023, the solar cell generated
   tahun 2023, solar cell ini telah berhasil menghasilkan energi           a total of 1,612,717 kWh of energy. [F.5]
   sebesar 1,612,717 kWh. [F.5]
4. Peniadaan penggunaan kendaraan jemputan (shuttle bus) di            4. No longer using shuttle buses inside and outside the area
   dalam dan di luar area sehingga berimbas pada penghematan              and thus the Company could save its fuel consumption.
   konsumsi BBM.



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      5. Penggunaan forklift bertenaga baterai untuk area logistic         5. Utilization of forklift, powered by battery, in logistics and
         dan warehouse.                                                       warehouse.

      EMISI YANG DIHASILKAN [F.12]                                         GENERATED EMISSION [F.12]

      Emisi Gas Rumah Kaca (GRK) memiliki dampak negatif yang              Greenhouse Gas (GHG) emissions are detrimental to global
      dapat memicu pemanasan global dan perubahan iklim. Perseroan         warming and climate change. The Company is dedicated
      berkomitmen untuk turut berpartisipasi mengurangi emisi              to contribute in reducing emission of carbon dioxide (CO2)
      dengan mengurangi konsentrasi karbondioksida (CO2) karena            concentrations resulting from electricity and fuel usage.
      penggunaan listrik dan BBM.

      Dalam Laporan Keberlanjutan ini, emisi yang dilaporkan adalah        In this Sustainability Report, the disclosed emissions include
      emisi GRK langsung (cakupan 1) yang dihasilkan dari penggunaan       direct GHG emissions (scope 1) from the use of fuel and
      bahan bakar minyak dan emisi GRK (cakupan 2) tidak langsung          indirect GHG emissions (scope 2) from electricity consumption.
      yang bersumber dari penggunaan listrik. Perseroan belum              The Company has decided not to report other indirect GHG
      memutuskan untuk melaporkan emisi GRK (cakupan 3) tidak              emissions (scope 3) related to business travel by airplane. The
      langsung lainnya dari perjalanan dinas dengan pesawat terbang.       GHG emissions from scopes 1 and 2 are dominated by CO2.
      Emisi GRK dominan yang dihasilkan dari cakupan 1 dan 2 adalah        The Company utilizes the Intergovernmental Panel on Climate
      CO2. Perseroan menggunakan metode penghitungan emisi GRK             Change (IPCC) method for calculating scope 1 GHG emissions,
      cakupan 1 dari Intergovernmental Panel on Climate Change             employing local emission factors (tier 2) specified by the Energy
      (IPCC) dengan menggunakan faktor emisi lokal (tier 2) yang telah     and Mineral Resources Research and Development Agency
      ditetapkan Badan Penelitian dan Pengembangan Energi dan              (Balitbang ESDM) and the Directorate General of Electricity
      Sumber Daya Mineral (Balitbang ESDM) dan Direktorat Jenderal         under the Ministry of EMR.
      Ketenagalistrikan di bawah naungan Kementerian ESDM.

      Dalam melaporkan emisi hasil penggunaan listrik, Perseroan           When reporting emissions from electricity consumption, the
      menggunakan faktor konversi emisi listrik average grid emission      Company adopted the electricity emission conversion factor
      factor yang dikeluarkan Kementerian ESDM pada dokumen                based on the average grid emission factor provided by the
      Rencana Usaha Penyediaan Tenaga Listrik (RUPTL) PLN 2015-            Ministry of Energy and Mineral Resources in the 2015-2024
      2024.                                                                PLN Electricity Procurement Plan (RUPTL) document.


                                                              Jumlah Emisi [F.11]
                                                              Total Emission [F.11]
                                                                                                                    Kenaikan (Penurunan)
                 Uraian                           Satuan         Volume 2023                Volume 2022
                                                                                                                     Increase (Decrease)
               Description                         Unit          2023 Volume                2022 Volume
                                                                                                                         2022-2023

        ENERGI BAHAN BAKAR (CAKUPAN 1)
        FUEL (SCOPE 1)

        BBM                                           GJ                      11,702.2                  13,129.7                      (10.87%)
        Fuel

        Emisi BBM                                kg CO2eq                    849,580                953,216,220                       (10.87%)
        Fuel Emission

        ENERGI LISTRIK (CAKUPAN 2)
        ELECTRICITY (SCOPE 2)

        Listrik                                       GJ                     70,031.5                   71,791.5                       (2.45%)
        Electricity

        Emisi Listrik                            kg CO2eq                18,169,440.11            18,626,049.36                        (2.45%)
        Electricity Emission




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                                                              Jumlah Emisi [F.11]
                                                              Total Emission [F.11]
                                                                                                                        Kenaikan (Penurunan)
           Uraian                          Satuan                Volume 2023                   Volume 2022
                                                                                                                         Increase (Decrease)
         Description                        Unit                 2023 Volume                   2022 Volume
                                                                                                                             2022-2023

 Jumlah Emisi Cakupan 1 & 2              kg CO2eq                        19,019,020.11                19,579,265.58                        (2.86%)
 Total Emission of Scope
 1&2

 Catatan | Remarks:
 • Faktor konversi emisi bahan bakar menggunakan standar IPCC (UNEP) 2006 dan Balitbang ESDM 2017 | Conversion factors for fuel emission
    used the IPCC standard (UNEP) 2006 and Balitbang ESDM 2017
 • Faktor konversi | Conversion factor:
 • 1 GJ = 0.001 Tj | 1 G = 0.001 TJ
 • Faktor emisi bahan bakar bensin RON 92 per kg CO2eq = 72,600 | Emission factor of fuel type RON 92 every kg CO2eq = 72,600
 • Faktor konversi emisi listrik menggunakan average grid emission factor yang dikeluarkan Kementerian ESDM pada dokumen Rencana Usaha
    Penyediaan Tenaga Listrik (RUPTL) PLN 2015-2024 | Conversion factors for electricity emission used the average grid emission factor specified
    by the Ministry of Energy and Mineral Resources as issued by PLN in its Electricity Procurement Plan (RUPTL) 2015-2024.
 • Faktor konversi | Conversion factor:
 • 1 kWh = 0.934 kg CO2 | 1 kWh = 0,934 kg CO2


EFISIENSI PENGGUNAAN AIR [F.8, 303-5]                                      EFFICIENT WATER USAGE [F.8, 303-5]

Perseroan membutuhkan air untuk berbagai keperluan                         The Company needs water to operate and that includes
operasional mencakup sanitasi karyawan, bangunan kantor,                   sanitation for employees, office buildings, boarding houses,
rumah dinas, serta pencucian pesawat dan spare part. Sejak                 and clean aircraft and spare parts. From its establishment until
awal beroperasi hingga tahun pelaporan, Perseroan tidak                    the current reporting year, the Company did not use groundwater
menggunakan air tanah dan hanya menggunakan sumber air                     and has only been using water from the Regional Drinking Water
yang berasal dari Perusahaan Daerah Air Minum (PDAM). Dengan               Company (PDAM). Hence, in 2023, there were no reports of a
demikian, pada tahun 2023, tidak terdapat pelaporan mengenai               Company’s action that had significantly reduced water resources.
adanya sumber air yang secara signifikan dipengaruhi oleh
pengambilan air oleh GMF.

Perseroan tetap mengukur volume penggunaan air dengan                      The Company continues to measure water use through
menggunakan metode observasi dan pencatatan angka yang tertera             observation and record the numbers on the flowmeter since
pada flowmeter karena cara ini dinilai paling akurat. Pencatatan           this is still the most accurate method for the Company. The
dilakukan dengan melihat angka yang tertera pada awal dan akhir            recording is done through calculation between the numbers at
bulan untuk dihitung selisih nilainya. Berdasarkan pencatatan              the beginning and end of the month. Based on these records,
tersebut, volume penggunaan air pada tahun 2023 adalah sebesar             the water usage in 2023 amounted to 466,284 m3. There was
466,284 m3. Terjadi kenaikan 326,617 m3 atau 233.85% dari                  an increase of 326,617 m3 or 233.85% compared to 2022 which
tahun 2022 dikarenakan adanya peningkatan aktivitas operasional.           occurred due to higher rate of operational activities.

Perseroan memiliki kebijakan efisiensi penggunaan air yang                 The Company has a policy to make water usage more efficient
diatur dalam Surat Edaran Nomor: DC/SE-7002/18 tentang                     through a Circular Letter Number: DC/SE-7002/18 concerning
Penghematan Energi Listrik dan Air Bersih di Lingkungan                    Energy Saving of Electricity and Clean Water. This letter
Perseroan. Surat ini mewajibkan kepada seluruh karyawan                    requires all employees working at the GMF to save water. It is
di lingkungan GMF agar melakukan upaya penghematan                         a continuous effort to save water and particularly in 2023 the
penggunaan air dalam setiap kegiatannya. Upaya penghematan                 Company’s did the water-saving campaign through stickers on
air merupakan upaya berkelanjutan dari tahun ke tahun dan                  sinks, toilets, and taps.
khusus pada tahun 2023, upaya yang telah dilakukan adalah
kampanye penghematan air melalui stiker hemat air yang
ditempelkan pada wastafel, toilet dan keran wudu musala.

PENGELOLAAN LIMBAH [F.14]                                                  WASTE MANAGEMENT [F.14]
Aktivitas operasional Perseroan menghasilkan limbah, baik                  The Company’s operation generates liquid and solid waste,
cair maupun padat, B3 maupun non-B3. Perseroan mengelola                   as well as B3 and non-B3 waste. The Company manages its
limbah operasional untuk mencegah terjadinya pencemaran dan                waste to prevent pollution and not damaging the environment.
kerusakan lingkungan. Komitmen ini telah diwujudkan khususnya              This is commitment that the Company has set out in a Health,
melalui kebijakan khusus Health, Safety and Environment yang               Safety and Environment policy that the President Director



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      telah ditandatangani langsung oleh Direktur Utama pada tanggal    has signed on June 1, 2017. The Company also has HSE 5-02
      1 Juni 2017. Perseroan juga mempunyai Prosedur HSE 5-02           Procedure concerning the Hazardous and Toxic Waste (B3)
      tentang Pengelolaan Limbah Bahan Berbahaya dan Beracun            Management based on the Government Regulation No. 101
      (B3) yang disusun berdasarkan Peraturan Pemerintah No. 101        concerning Hazardous Waste Management and other applicable
      tentang Pengelolaan Limbah B3 dan regulasi lainnya terkait        B3 regulations in Indonesia. [306-1]
      pengelolaan limbah B3 yang berlaku di Indonesia. [306-1]

      Perseroan mengelola limbah non-B3 yang terdiri dari kertas        The Company manages its non-B3 waste, comprised of
      tidak terpakai dan grey water berupa air kotor berdasarkan        unused paper and dirty water, according to the Ministry of
      Ketentuan Kementerian Lingkungan Hidup (KLH) dan standar          Environment (KLH) regulation and industry standards to protect
      industri terkait agar tidak menimbulkan dampak negatif terhadap   the environment. The Company manages its paper waste using
      lingkungan. Perseroan mengelola limbah kertas menggunakan         the reuse and reduce method, while gray water waste from
      metode reuse and reduce, sedangkan limbah grey water dari         domestic waste that came from dishwashing, toilets, etc, is
      limbah domestik seperti air cucian piring, flushing toilet, dan   channeled to Angkasa Pura II’s STP (Sewage Water Treatment).
      sebagainya disalurkan ke STP (Sewage Water Treatment)             The Company also uses composting methods to turn leaves into
      Angkasa Pura II. Perseroan juga menerapkan cara composting        compost. This is an effective method to reduce the volume of
      untuk mengelola sampah organik berupa dedaunan menjadi            organic waste to be burned at the Final Processing Site (TPA),
      pupuk kompos. Cara ini terbilang efektif untuk mengurangi         hence reducing CH4 gas coming from the burning. [306-1]
      timbunan sampah organik yang diangkut ke Tempat Pemrosesan
      Akhir (TPA) untuk dibakar sehingga mengurangi gas CH4 hasil
      pembakaran sampah. [306-1]

      Informasi volume limbah yang dihasilkan pada tahun 2023           Information on the waste volume generated in 2023 is as
      adalah sebagai berikut: [F.13]                                    follows: [F.13]


                                                                                                                Kenaikan (Penurunan)
               Jenis Limbah                      Satuan       Volume 2023              Volume 2022
                                                                                                                 Increase (Decrease)
                Waste Type                        Unit        2023 Volume              2022 Volume
                                                                                                                      2021-2022

        Limbah B3                                     ton                221.89                     221,64                            0.11%
        Hazardous waste

        Limbah non-B3                                 ton                   751.74                  631,52                          19.04%
        Non-hazardous waste

        Jumlah
                                                      ton               973.63                     853,16                           14.12%
        Total


      Pengelolaan penggunaan material kimia melalui sistem              The chemical materials are managed through a consignment
      consignment seperti yang telah dijelaskan sebelumnya turut        system, as discussed earlier, to maintain the volume of
      membantu menjaga tingkat volume limbah berbahaya yang             hazardous waste from operational activities. One of them is Turco
      dihasilkan dari aktivitas operasional. Salah satunya adalah       Oil. In managing hazardous waste, GMF refers to Government
      pada Turco Oil. Dalam mengelola limbah B3, GMF mengacu            Regulation No. 22 of 2021 concerning Environmental Protection
      pada Peraturan Pemerintah No. 22 Tahun 2021 tentang               and Management from the packaging, storage, transportation,
      Penyelenggaraan Perlindungan dan Pengelolaan Lingkungan           and processing which are all done by a business entity that has
      Hidup tersebut dilakukan dari mulai proses pengemasan,            a license from KLH and the Ministry of Transportation of the
      penyimpanan, hingga pengangkutan dan pengolahan oleh badan        Republic of Indonesia. [306-2]
      usaha yang memiliki izin dari KLH dan Departemen Perhubungan
      RI. [306-2]

      Berikut disampaikan informasi mengenai volume dan metode          Here is information on the volume and management method
      pengelolaan limbah B3: [306-5]                                    of handling hazardous waste: [306-5]




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     Nama Limbah B3                Tempat Pengolahan         Metode Pengelolaan                Tujuan Akhir              Volume Limbah B3*
   Hazardous Waste Type               Handling Site           Handling Method                  Final Disposal          Hazardous Waste Volume

 Limbah B3 Padat
 Solid Hazardous Waste

 Majun & plastik                                                                                                                           54,210
 terkontaminasi B3
 Dust cloth & plastic
 contaminated with
 hazardous waste

 Bekas kemasan B3                                                                                                                           6,580
 Used container of
 hazardous waste                                           Mixing dan pencacahan
                                                           limbah dan dikirimkan
 Paint stripper                  PT Wahana Pamunah                                        PT Wahana Pamunah                                 6,580
                                                           untuk diinsinerasi (dibakar)
                                 Limbah Industri (WPLI),                                  Limbah Industri (WPLI),
                                                           Wastes are mixed and
 B3 padat kadaluarsa             Serang                                                   Serang                                             8,130
                                                           grined before sent for
 Expired solid hazardous
                                                           incineration
 waste

 B3 cair kadaluarsa                                                                                                                       137,308
 Expired liquid hazardous
 waste

 Kaleng B3 Bekas                                                                                                                            7,800

 AluminiumOxide                                                                                                                               200

 Baterai bekas                                                                                                                                300
 Used battery
                                 PT Muhtomas, Cikarang                                    PT Muhtomas, Cikarang
 Lampu TL                                                                                                                                     709
 TL Lamps

 Limbah B3 Cair
 Liquid Hazardous Waste

 Bahan            bakar          PT Angkasa Tunggal        Recycle menjadi solar          Pelanggan                                       126,245
 terkontaminasi (avtur & oli)    Selaras Nugratama         industri dan dimanfaatkan      Customers
 Contaminated fuel (avtur                                  kembali
 & oil)                                                    Recycled into industrial
                                                           diesel and reuse

 *satuan dalam kg | in kg


PEMANTAUAN DAMPAK LINGKUNGAN                                               ENVIRONMENTAL IMPACT MONITORING

Perseroan memiliki Prosedur HSE 6-01 tentang Pemantauan dan                The Company has an HSE 6-01 Procedure concerning Monitoring
Pengukuran Kinerja K3L dimana terdapat indikator lingkungan                and Measurement of K3L Performance with environmental
yang wajib dipantau dan dilaporkan secara periodik melalui                 indicators that must be monitored and reported periodically
Laporan RKL-RPL GMF per enam bulan yaitu:                                  through the GMF RKL-RPL Report every six months, namely:
1. Indikator lingkungan yang dipantau per bulan:                           1. Monthly environmental indicators:
   a. Influen dan effluent air limbah industri                                 a. Industrial wastewater influent and effluent
   b. Limbah cair domestik                                                     b. Domestic liquid waste
2. Indikator lingkungan yang dipantau per enam bulan:                      2. Biannually environmental indicators:
   a. Udara lingkungan kerja                                                   a. Work environment’s air quality
   b. Udara ambien                                                             b. Ambient air
    c. Kebisingan                                                              c. Noise
   d. Pencahayaan                                                              d. Lighting
   e. Emisi boiler                                                             e. Boiler emissions
    f. Emisi isokinetik                                                        f. Isokinetic emission
   g. Mikrobiologi (angka kuman)                                               g. Microbiology (germs figure)
3. Indikator lingkungan yang dipantau per satu tahun:                      3. Annual environmental indicators:
   a. Getaran                                                                  a. Vibration
   b. Iklim kerja                                                              b. Work climate
    c. Emisi kendaraan bermotor                                                c. Vehicle emissions
   d. Ergonomi                                                                 d. Ergonomics




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      KEANEKARAGAMAN HAYATI [F.9, F.10]                             BIODIVERSITY [F.9, F.10]

      Perseroan tidak memiliki wilayah operasional, yang terletak   The Company does not have operational areas located or
      atau berdekatan dengan kawasan dilindungi dan/atau kawasan    adjacent to protected areas and/or biodiversity conservation
      konservasi keanekaragaman hayati. Akan tetapi, Perseroan      areas. Nonetheless, the Company conducted a regular and
      melaksanakan program penghijauan secara rutin dan             continuous reforestation program to preserve the environment
      berkesinambungan untuk membantu melestarikan lingkungan       and reduce the global warming impact. By the end of 2023, GMF
      hidup dan mengurangi dampak pemanasan global. Pada akhir      has 1.140 trees of many varieties planted with the following
      tahun 2023, GMF telah memiliki 1.140 pohon dalam beragam      information:
      varietas dengan informasi sebagai berikut:


                                                      Nama Pohon                                                Jumlah
         No.
                                                       Tree Name                                                 Total

          1.      Angsana                                                                                                           33

          2.      Alpukat                                                                                                            2

          3.      Bamboo                                                                                                             3

          4.      Belimbing                                                                                                          8

          5.      Beringin                                                                                                           8

          6.      Bintaro                                                                                                           43

          7.      Bungur                                                                                                            49

          8.      Cemara                                                                                                            47

          9.      Cermai                                                                                                             6

         10.      Flamboyan                                                                                                         13

          11.     Glodogan tiang                                                                                                    64

          12.     Jambu air                                                                                                         19

          13.     Jambu biji                                                                                                         6

          14.     Jambu bol                                                                                                           1

          15.     Kamboja                                                                                                           78

          16.     Kiara payung                                                                                                      79

          17.     Ketapang                                                                                                          12

          18.     Klengkeng                                                                                                           1

          19.     Kupu-kupu                                                                                                           1

         20.      Mahkota dewa                                                                                                       2

          21.     Mangga                                                                                                            31

         22.      Mengkudu                                                                                                           3

         23.      Nangka                                                                                                            14

         24.      Pete cina                                                                                                          2

         25.      Pinus                                                                                                             12

         26.      Rambutan                                                                                                           3

         27.      Srikaya                                                                                                            4

         28.      Sawo duren                                                                                                         2

         29.      Sawo kecik                                                                                                        29

         30.      Tanjung                                                                                                           69

          31.     Tabebuya                                                                                                          23

         32.      Ketapang Kencana                                                                                                  30

         33.      Pulle                                                                                                            136




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                                                         Nama Pohon                                                          Jumlah
   No.
                                                          Tree Name                                                           Total

   34.     Jakaranda                                                                                                                            15

   35.     Mahoni                                                                                                                              168

   36.     Trembesi                                                                                                                             29

   37.     salam                                                                                                                               95

           Jumlah
                                                                                                                                             1.140
           Total



BIAYA TERKAIT PENGELOLAAN ASPEK                                                COST ON ENVIRONMENTAL MANAGEMENT
LINGKUNGAN HIDUP [F.4]                                                         [F.4]
Biaya yang dikeluarkan Perseroan untuk mengelola aspek                         The Company spent Rp10,937,833,927 to manage the
lingkungan hidup pada tahun 2023 berjumlah Rp10,937,833,927.                   environmental aspects in 2023. This represents an increase of
Terjadi kenaikan sebesar 242.68% dibandingkan tahun                            242.68% compared to the previous year. This increase occurred
sebelumnya. Hal ini terjadi karena aktivitas Perseroan telah                   because the Company’s activities have returned to normal and
kembali normal dan terdapat beberapa penyesuaian aktivitas                     therefore several adjustments were needed for the environment,
lingkungan seperti penyediaan kerja sama Integrated Facility                   such as the Integrated Facility Management (IFM) cooperation
Management (IFM) dengan nilai yang cukup signifikan. Selain itu,               that comes with significant value. Additionally, this increase
peningkatan ini juga disesuaikan dengan pelaksanaan program                    aligns with the implementation of environmental programs
lingkungan yang disusun berdasarkan hasil Identifikasi Aspek                   based on the results of the Identification of Environmental
dan Dampak Lingkungan untuk memperkecil dampak lingkungan                      Aspects and Impacts to minimize the environmental impact of
dari aktivitas Perseroan.                                                      the Company’s activities.


                                                                                                             Kenaikan
                                                                                                                                Penyerapan
                                                                                                        (Penurunan) 2022-
                                Realisasi 2023                                      Anggaran 2023                              Anggaran 2023
         Perihal                                             Realisasi 2022                                    2023
                                2023 Realization                                     2023 Budget                                2023 Budget
         Subject                                           2022 Realization (Rp)                             Increase
                                     (Rp)                                               (Rp)                                     Absorption
                                                                                                            (Decrease)
                                                                                                                                    (%)
                                                                                                          2022-2023 (%)

 Pengelolaan                            10,824,739,172            3,056,084,823        10,567,580,428               254.2%                 97.62%
 Lingkungan
 Environmental
 Preservation

 Pemantauan                              105,094,000                 76,257,000          110,000,000                37.82%                104.67%
 Lingkungan
 Environmental
 Monitoring

 Pelatihan, Sosialisasi,                   8,000,000                59,500,000             7,000,000              (86.55%)                114.29%
 dan Sertifikasi
 Lingkungan
 Training, Socialization,
 and Environmental
 Certification

 Jumlah
                                      10,937,833,927              3,191,841,823       10,684,580,428              242.68%                102.37%
 Total




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      PENCAPAIAN TANGGUNG JAWAB SOSIAL                                     ACHIEVEMENT ON SOCIAL RESPONSIBILITY
      TERKAIT LINGKUNGAN HIDUP [F.15, F.16]                                TO THE ENVIRONMENT [F.15, F.16]

      Perseroan memiliki sejumlah pencapaian di bidang lingkungan          The Company earned several environmental achievements
      hidup, salah satunya adalah sertifikasi ISO 14001:2015 –             including the ISO 14001:2015 –Environmental Management
      Environmental Management System yang dikeluarkan oleh                System certification issued by Sucofindo International
      Sucofindo International Certification Services (SICS). Sertifikasi   Certification Services (SICS). This certification was issued on
      ini dikeluarkan tanggal 4 April 2018 telah diperpanjang pada 24      April 4, 2018, and has been extended on Jun 24, 2021, hence,
      Juni 2021 dan berlaku hingga 3 April 2024. Saat ini perseroan        valid until April 3, 2024. The Company is currently in the process
      dalam proses pengajuan perpanjangan melalui Renewal Audit            of filing for an extension through Renewal Audit which scheduled
      yang diagendakan pada akhir bulan Juni 2024.                         on end of June 2024.

      Selain sertifikasi, pengelolaan aspek lingkungan hidup yang          In addition to certification, the environmental management is
      sesuai dengan peraturan yang berlaku membawa Perseroan               also done according to the applicable regulations and succeeded
      melalui tahun 2023 tanpa terkena denda ataupun sanksi lainnya        in helping the Company to pass 2023 without getting fined or
      yang berkaitan dengan pencemaran atau kerusakan lingkungan           sanctioned for environmental pollution or damage that was
      akibat aktivitas operasional GMF. Selain itu, pada tahun 2023,       caused by the Company’s operation. In addition, in 2023, there
      tidak terdapat keluhan dari masyarakat sekitar Perseroan terkait     was no complaint in terms of environmental damage or pollution
      pencemaran atau kerusakan lingkungan.                                from the community around the Company.




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                                     MENGHARGAI DAN MELINDUNGI PEGAWAI
                                                             Appreciation and Protection of Our Employees


PENGUNGKAPAN MANAJEMEN TOPIK                                      DISCLOSURE OF MATERIAL TOPIC
MATERIAL [3-3]                                                    MANAGEMENT [3-3]

Perjalanan GMF untuk terus bertumbuh, tidak terlepas dari peran   GMF’s journey to continued growth is inseparable from the role
pegawai. Hubungan antara Perseroan dengan para pegawai            of its employees. The relationship between the Company and its
saling berkaitan dan tidak dapat dipisahkan. Pemahaman ini        employees is interconnected and essential. This understanding
membuat kami selalu menghargai dan melindungi pegawai lebih       leads us to consistently value and protect employees as more
dari sekedar aset produktif, namun mitra terpercaya yang selalu   than just productive assets; they are trusted partners who
dilindungi. Perseroan senantiasa mengutamakan hak-hak setiap      deserve protection. The Company always prioritizes the rights
pegawai, memperhatikan kesejahteraan mereka, dan terutama,        of every employee, attends to their welfare, and, above all,
memastikan mereka dapat mengaktualisasi diri untuk dapat          ensures they have opportunities for self-actualization, enabling
berkembang dan mendapatkan kehidupan lebih baik.                  them to develop and lead better lives.

Perhatian Perseroan terhadap keselamatan dan kesehatan            The Company’s concern for occupational safety and health (K3
kerja (K3) diwujudkan dengan Sistem Manajemen Kesehatan           or OHS) is manifested by an Occupational Health and Safety
dan Keselamatan Kerja yang bernama Health, Safety and             Management System called Health, Safety and Environment
Environment Policy (HSE Policy). Sistem ini tertuang dalam        Policy (HSE Policy). This system is set out in the Occupational
Manual Occupational Safety and Health yang didukung               Safety and Health Manual which is supported by other procedures
dengan sejumlah prosedur terkait K3 dan formulir penunjang        and supporting forms related to OHS. The Company’s K3 policy
lainnya. Kebijakan K3 yang dimiliki Perseroan difokuskan untuk    is focused to support HR management to train employees
mendukung pengelolaan SDM untuk menciptakan karyawan yang         into qualified, committed, and outstanding personnel. OHS is
berkualifikasi, berkomitmen, dan luar biasa. K3 dimaksudkan       intended to prevent work accidents that are quite likely to occur
untuk mencegah terjadinya kecelakaan kerja yang cukup rentan      in the MRO industry of GMF. [F.21, 403-1]
terjadi di industri MRO yang dijalani GMF. [F.21, 403-1]

PERLAKUAN YANG ADIL DAN SETARA BAGI                               FAIR AND EQUAL TREATMENT FOR ALL
PEGAWAI [F.18, 406-1]                                             EMPLOYEES [F.18, 406-1]

Perseroan memperlakukan semua pegawai secara setara sesuai        The Company treats all employees equally according to the basic
prinsip dasar ketenagakerjaan yang termuat dalam Undang-          employment principles set out in Law No. 13 of 2003 concerning
Undang No. 13 Tahun 2003 tentang Ketenagakerjaan tanpa            Manpower without distinguishing gender, ethnicity, religion,
membedakan jenis kelamin, suku, agama, ras dan pandangan          race, and political views. There is a Collective Labor Agreement
politik. Terdapat Perjanjian Kerja Bersama (PKB) antara           (PKB) between the Company and employees to ensure that
Perseroan dan pegawai untuk memastikan adanya komitmen            there is a written commitment for both parties fulfilling the
tertulis kedua belah pihak dalam pemenuhan HAM yang berlaku       human rights when recruiting employees, participating in
dalam hal penerimaan pegawai, pelatihan dan pengembangan          training and competency development, career development,
kompetensi, pengembangan karir, dan remunerasi. Perseroan         and remuneration. The Company also guarantees employees
juga menjamin kebebasan pegawai berserikat dengan                 the freedom to associate through a labor union as a forum
memfasilitasi pembentukan serikat pekerja sebagai wadah           for effective communication between management and all
komunikasi yang efektif antara manajemen dan seluruh pegawai.     employees. The PKB continues to be updated periodically, and
PKB terus diperbarui secara periodik dan Serikat Pekerja telah    the Trade Union has been registered with the Manpower Office.
didaftarkan ke Dinas Ketenagakerjaan. Sampai dengan akhir         Until the end of 2023, the PKB agreed upon with the Labor
tahun 2023, PKB yang telah disepakati dengan Serikat Pekerja      Union fully applies to all employees, both permanent and non-
berlaku sepenuhnya terhadap semua pegawai, baik pegawai           permanent. The content of the PKB is prepared in accordance
tetap maupun pegawai tidak tetap, dimana konten dari PKB itu      with the applicable laws and regulations. [2-30]
sendiri disusun mengacu pada peraturan perundang-undangan
yang berlaku. [2-30]




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      REMUNERASI PEGAWAI                                                 EMPLOYEE REMUNERATION

      Dalam menetapkan imbal jasa bagi para pegawai, Perseroan           In determining employee remuneration, the Company prioritizes
      berfokus pada paket remunerasi yang sesuai dan sejumlah            competitive remuneration packages and other significant
      manfaat material lainnya. Guna menetapkan paket remunerasi         benefits. These packages are formulated based on employee
      yang kompetitif, Perseroan merumuskan standar sesuai               ranks and position, while ensuring compliance with labor laws
      pemeringkatan pegawai dan jenjang jabatan, dengan tetap            and regulations, particularly regarding Provincial/Regency/City
      mematuhi ketentuan perundang-undangan dan regulasi yang            Minimum Wage (UMP/K) provisions in the Company’s work area.
      mengatur tentang tenaga kerja, terutama dalam hal ketentuan        Entry-level employees in the Company, classified as Aircraft
      Upah Minimum Provinsi/Kabupaten/Kota (UMP/K) yang berlaku          Maintenance Technician or equal receive a salary of Rp4,600,000
      di wilayah kerja Perseroan. Karyawan level terendah di Perseroan   which is 0.34% higher than the City Minimum Wage (UMK) of
      yaitu Aircraft Maintenance Technician atau setara mendapatkan      Tangerang at Rp4,584,519. [F.20]
      gaji Rp4,600,000 yang lebih besar 0,34% dari Upah Minimum
      Kota (UMK) daerah Tangerang yaitu sebesar Rp4,584,519. [F.20]

      Berikut disampaikan juga rasio gaji pokok dan remunerasi           Furthermore, the ratio of basic salary and remuneration for
      pegawai pria dan wanita sebagai perbandingan. Terlihat bahwa       male and female employees is provided for comparison. There
      tidak ada perbedaan berdasarkan jenis kelamin karena GMF           are no gender-based differences observed, as GMF implements
      mengaplikasikan sistem pengelolan pegawai yang setara antara       an equal employee management system for both men and
      pria dan wanita. [405-2]                                           women. [405-2]


                                                      Jabatan                                                     Rasio
                                                      Position                                                    Ratio

        Vice President                                                                                                                    1:1

        General Manager                                                                                                                   1:1

        Manager                                                                                                                           1:1

        Staff                                                                                                                             1:1


      Selain gaji, Perseroan juga memberikan sejumlah tunjangan          Apart from salary, the Company also provides a number of
      yang tergambar dalam paket remunerasi sebagai berikut.             allowances, which are reflected in the remuneration package as
      Informasi ini merupakan paket remunerasi yang berlaku secara       follows. This information covers the remuneration package in its
      keseluruhan, jenis dan besaran yang diteirma setiap pegawai        entirety; however, the type and amount received by each employee
      berbeda tergantung dari status dan kinerja. Walaupun demikian,     vary depending on their status and performance. Nevertheless,
      GMF memastikan bahwa seluruh pegawai telah menerima paket          GMF ensures that all employees receive remuneration packages
      remunerasi sesuai dengan persyaratan regulasi.                     in accordance with regulatory requirements.
      • Gaji Pokok                                                       • Base Salary
      • Tunjangan Tengah Tahun                                           • Midyear Allowance
      • Tunjangan Hari Raya                                              • Religious Allowance
      • Tunjangan Sertifikasi                                            • Certification Allowance
      • Tunjangan Perumahan                                              • Housing Benefit
      • Tunjangan Transport                                              • Transport Allowance
      • Tunjangan Jabatan                                                • Managerial Allowance
      • Tunjangan Fasilitas Kendaraan                                    • Transport Facility Allowance
      • Tunjangan Lisensi                                                • License Allowance
      • Tunjangan Kehadiran                                              • Presence Allowance
      • Tunjangan Fasilitas Project                                      • Project Facility Allowance
      • Tunjangan Kemahalan                                              • Inconvenience Allowance
      • Tunjangan Produktivitas                                          • Productivity Allowance
      • Tunjangan Pajak                                                  • Tax Allowance
      • Lumpsum Kenaikan Tahunan                                         • Annual Increment Lumpsum
      • Dana Kesehatan Pensiun                                           • Health Pension Fund
      • Penggantian Biaya Seluler                                        • Reimbursement Cellular
      • Penggantian Kacamata                                             • Eyeglasses Reimbursement
      • Tunjangan Cuti Kerja                                             • Vacation Leave Allowance




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PENERAPAN REWARD & PUNISHMENT                                            REWARD & PUNISHMENT

INSENTIF (REWARD)                                                        REWARDS
GMF memiliki program insentif bagi para pegawai untuk                    GMF has an incentive program for employees aimed at fueling
memicu semangat mereka dalam mempertahankan kinerja                      their enthusiasm for maintaining performance and fostering
dan berinovasi. Terdapat dua kategori insentif, yaitu:                   innovation. There are two categories of incentives, namely:
1. Corporate Performance Incentive, yaitu insentif yang                  1. Corporate Performance Incentive, which is given to all
   diberikan kepada seluruh pegawai dan PKWT atas kerja                     employees, including non-permanent employees, for their
   bersama (teamwork) seluruh pegawai.                                      teamwork performance.
2. Individual Performance-Based Incentive, yaitu insentif yang           2. Individual Performance-Based Incentives, given to all
   diberikan kepada seluruh pegawai dan PKWT berdasarkan                    employees, including non-permanent employees, based
   pencapaian kinerja departemen masing-masing.                             on the achievement of their respective department.

Perseroan juga memiliki reward non-finansial melalui GMF                 The Company also has non-financial rewards, given through
Eazy berupa:                                                             GMF Eazy, in the form of:
1. GMF Eazy Umroh & Pilgrim yang memungkinkan karyawan                   1. GMF Eazy Umroh & Pilgrim, which allows employees to make
   melakukan perjalanan umroh atau pilgrim dengan pinjaman                  religious Umrah or Pilgrim trips with interest-free loans;
   tanpa bunga;
2. GMF Eazy Hajj yang merupakan bantuan dana talangan Haji;              2. GMF Eazy Hajj, a loan for Hajj;
3. GMF Eazy Home berupa bantuan pembayaran down payment                  3. GMF Eazy Home, a loan for the down payment of purchasing
   pembelian rumah pertama;                                                 the first home;
4. GMF Eazy Edu yang merupakan bantuan dana talangan biaya               4. GMF Eazy Edu, a loan for educational expenses through
   pendidikan melalui pinjaman tanpa bunga.                                 interest-free loans.

Insentif finansial dan non-finansial merupakan program yang              Financial and non-financial incentives are programs that have
sudah diberikan sejak lama dan selalu konsisten dilakukan.               been provided for a long time and are consistently implemented.
Program ini memiliki bentuk beragam dan disesuaikan dengan               These programs take various forms and are adapted to GMF’s
kondisi internal GMF (kineja dan kapabilitas), serta tantangan           internal conditions (performance and capabilities), as well as
dari eksternal (terutama saat pandemi). Apresiasi bagi pegawai           external challenges (especially during the pandemic). Appreciation
merupakan salah satu aspek yang tidak akan pernah ditinggalkan.          for employees is an aspect that will never be abandoned.

Program reward yang diberikan GMF pada tahun 2023 adalah sistem          The reward program provided by GMF in 2023 is an incentive
insentif bagi pegawai yang memiliki keterampilan/keahlian khusus/        system for employees with special skills, expertise, or special
pendidikan khusus untukmenunjang kompetensi pekerjaannya.                education to enhance their work competencies. This is crucial
Hal ini penting agar kinerja pegawai dapat berdampak positif             to ensure that employee performance positively contributes to
terhadap tercapainya tujuan usaha. Selain itu GMF juga memiliki          achieving business goals. Additionally, GMF offers the GMF Eazy
program GMF Eazy Edu untuk mendukung program pengembangan                Edu program to support employees’ independent development
karyawan secara mandiri melalui bantuan pembiayaan pendidikan            through educational financing assistance for college or short
(kuliah atau short course).                                              courses.

HUKUMAN                                                                  PUNISHMENT
GMF memberikan punishment kepada karyawan yang melakukan                 There is a punishment for employees who commit violations.
pelanggaran. Bentuk-bentuk punishment bervariasi seperti                 The penalty may be through sanctions or disciplinary action
sanksi atau hukuman disiplin berdasarkan tingkat dan jenis               of different levels. The sanctions are categorized into mild,
sanksi yang berlaku. Jenis sanksi yang berlaku meliputi sanksi           moderate, and severe types. The sanction is determined based
disiplin ringan, sedang, dan berat. Penetapannya ditentukan              on the type of violation, the impact, and other elements of the
dengan berdasarkan pelanggaran yang dilakukan, dampak yang               action.
ditimbulkan, dan unsur dari perbuatan.


                                                Sanksi Berdasarkan Jenis Pelanggaran
                                                     Sanction by Type of Violation
      Saksi Pelanggaran Disiplin Ringan             Saksi Pelanggaran Disiplin Sedang                Saksi Pelanggaran Disiplin Berat
          Light Disciplinary Sanction                 Moderate Disciplinary Sanction                   Severe Disciplinary Sanction

 Peringatan lisan                               Penurunan base salary sebesar 5%-10% selama     Penurunan base salary sebesar 10% selama 12
 Verbal warning                                 4 bulan.                                        bulan.
                                                Base salary decreases by 5%-10% for 4 months.   Base salary decreases by 10% for 12 months.




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                                                              Sanksi Berdasarkan Jenis Pelanggaran
                                                                   Sanction by Type of Violation
             Saksi Pelanggaran Disiplin Ringan                    Saksi Pelanggaran Disiplin Sedang                     Saksi Pelanggaran Disiplin Berat
                 Light Disciplinary Sanction                        Moderate Disciplinary Sanction                        Severe Disciplinary Sanction

        Peringatan tertulis                                   Pembebasan dari jabatan struktural dan setelah      Pembebasan dari jabatan struktural dan setelah
        Written warning                                       6 bulan dapat diangkat kembali menjadi pejabat      3 tahun dapat diangkat kembali menjadi pejabat
                                                              stuktural namun tidak pada posisi jabatan yang      stuktural namun tidak pada posisi jabatan yang
                                                              sama.                                               sama, dan pemutusan hubungan kerja (PHK).
                                                              Exemption from the structural postion and           Exemption from the structural postion and
                                                              might be reappointed after 6 months as a            might be reappointed after 3 years as a
                                                              structural official but not in the same position.   structural official but not in the same position,
                                                                                                                  and work termination.



      GMF memiliki program “ Save Discipline Culture ” untuk                             GMF embedded culture of discipline among employees through
      membangun budaya disiplin di dalam Perseroan. Program ini                          the “Save Discipline Culture”. This program includes Work Time
      meliputi Disiplin Waktu Kerja, Disiplin Penggunaan Seragam                         Discipline, Work Uniform Discipline, and Briefing Discipline for 10
      Kerja, dan Disiplin Briefing 10 (sepuluh) menit. Program ini                       (ten) minutes. There is a point system in this program that both
      menggunakan sistem poin yang dikendalikan oleh setiap                              employees and the Company can control. The Company may
      karyawan dan Perseroan. Laporan disiplin ini memiliki pengaruh                     determine the proper rewards and punishments for employees
      terhadap pemberian reward dan punishment kepada pegawai                            based on this discipline report.
      bersangkutan.


                                                      Pemberian Punishment Terhadap Karyawan 2019-2023
                                                                Employee Punishment 2019-2023
              Jenis Sanksi
                                              2023                     2022                     2021                      2020                      2019
            Type of sanction

        Sanksi Ringan                                     0                        0                         0                         0                         0
        Light Sanction

        Sanksi Sedang                                    18                        8                         9                         0                        10
        Medium Sanction

        Sanksi Berat                                      5                        11                        4                         4                          1
        Heavy Sanction

        Jumlah
                                                         23                       19                        13                         4                         11
        Total



      TANTANGAN PENGELOLAAN K3 [403-2]                                                   CHALLENGES IN MANAGING OHS [403-2]

      Salah satu aspek pengelolaan K3 yang menantang dalam                               One of the most challenging aspects of OHS management
      lingkungan Perseroan adalah pada area Hangar yang memiliki                         within the Company is the Hangar area which has the highest
      tingkat risiko kecelakaan kerja paling tinggi dibandingkan area                    risk of work accident compared to other areas. To anticipate the
      lainnya. Guna mengantisipasi risiko kecelakaan, Perseroan telah                    accident risks, the Company has created a mapping strategy of
      melakukan pemetaan area sebagai berikut:                                           the following areas:


                         Wilayah                                                        Jenis Pekerjaan dengan Risiko Tinggi
                          Area                                                                 Work Type with High Risk

        Hangar 1-4                                    Working at high, remove and assembly heavy part (engine, flaps, landing gear, etc.), welding aircraft engine,
                                                      radiation (only if NDT test take place in the hangar), Hydraulic Function Test, plugging and unplugging
                                                      of the electrical ground source.

        Workshop 1                                    Painting, loading heavy parts, release pressure in a tire, machining (rotary machine TBR), welding, plating
                                                      process TCW, Operation Boiler, Radiation in NDT Lab.

        Workshop 2                                    Release and refill pressurize tube, electrical testing component.

        Facility                                      Maintenance in Generator and Motor Room.

        Material Building                             Loading and unloading of a heavy part.




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                 Wilayah                                                        Jenis Pekerjaan dengan Risiko Tinggi
                  Area                                                                 Work Type with High Risk

 GSE                                            Welding, working at high, the rotary machine, thermal spray (hot work), sanding and painting, electrical
                                                testing.

 Engine Shop                                    Radiation in NDT Test, chemical exposure in cleaning, hot work thermal spray, the rotary machine, welding,
                                                assembly disassembly engine and APU, welding.

 Test Cell                                      Fire and explosion in testing APU and Engine.

 Chemical Store                                 Loading unloading, fire and exposure chemical.

 Learning Service                               Machining activity.

 Apron                                          Working at high places.



                                                   Peta Area dengan Risiko Potensi Bahaya Tinggi
                                                            Areas with High Potential Risk




Berdasarkan tabel risiko dan peta tersebut, Perseroan telah                       Based on the table and map, the Company made a comprehensive
menyusun strategi dan pengelolaan K3 secara komprehensif,                         K3 strategy and management, which will be disclosed in the next
yang akan diungkapkan di pembahasan selanjutnya, untuk                            discussion, to protect employees and ensure business continuity.
melindungi karyawan dan juga memastikan keberlangsungan
usaha.

PROGRAM KESEHATAN DAN KESELAMATAN                                                 OCCUPATIONAL HEALTH AND SAFETY
KERJA [403-3]                                                                     PROGRAM [403-3]

Perseroan melaksanakan berbagai program K3 secara rutin                           The Company regularly implements various OHS programs
melalui bincang-bincang health talk di setiap dinas, program                      of health talks in each department, self-evaluation and self-
evaluasi diri self-measurement, seminar kesehatan, sistem                         measurement programs, health seminars, hazard mapping
mapping hazard dan mitigasinya, serta jalan sehat atau sepeda                     system and mitigation, as well as walking and bicycling.
sore.

Perseroan juga memiliki sejumlah peraturan, perundangan                           The Company also has several regulations, laws, and other
dan persyaratan lainnya yang berlaku terkait Keselamatan,                         requirements on occupational safety, health, and the
Kesehatan Kerja dan Lingkungan. Berbagai aktivitas yang telah                     environment. Continous activities carried out for many years
dijalankan secara berkelanjutan dari tahun ke tahun yaitu untuk                   to enforce the K3 regulations including safety patrols, safety
menegakkan peraturan-peraturan terkait K3 adalah safety                           induction, waste management, and safety performance
patrol, safety induction, pengelolaan limbah, dan pengelolaan                     management (safe working hours). Each program has its
safety performance (jam kerja aman). Setiap program memiliki                      criteria and requirement that must be fulfilled and followed by
kriteria dan persyaratan yang wajib dipenuhi dan ditaati oleh                     all employees without exception.
segenap karyawan GMF tanpa terkecuali.




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      Guna menjamin adanya realisasi K3 di lingkungan usaha                         To ensure K3 has been applied within the Company’s business
      Perseroan, terdapat aktivitas penilaian/pengukuran secara                     environment, there are periodic assessments/measurements
      berkala yang mencakup Hazard Identification, Risk Assessment,                 which include Hazard Identification, Risk Assessment, and
      and Determining Control (HIRADC) dari seluruh kegiatan GMF.                   Determining Control (HIRADC) of all GMF activities.

      Berbagai program keselamatan kerja yang telah dilakukan GMF                   The work safety programs that have been carried out by GMF
      di sepanjang tahun 2023 adalah sebagai berikut:                               throughout 2023 were as follows:


                                                                            Aktivitas Program
         No.
                                                                                 Activities

          1.      Perseroan memberikan program jaminan kesehatan bagi pegawai dan keluarga inti pegawai berupa asuransi pelayanan kesehatan
                  komersil guna pelayanan rawat jalan dan rawat inap
                  The Company provides a health insurance program for employees and their immediate families in the form of commercial health insurance
                  for outpatient and inpatient services

          2.      Perusahaan memberikan program jaminan BPJS Kesehatan bagi pegawai dan keluarga inti pegawai
                  The Company offers a BPJS Health guarantee program for employees and their immediate families

          3.      Perusahaan melaksanakan dan memfasilitasi pegawai dengan serangkaian program preventif dan promotif untuk menunjang kesehatan
                  pegawai baik secara luring ataupun daring
                  The Company implements and facilitates employees with a series of preventive and promotive programs to support employee health
                  both offline and online

          4.      Pelaksanaan program GMF Fit berkolaborasi dengan GMF Community
                  Implementation of the GMF Fit program in collaboration with GMF Community

          5.      Pelaksanaan webinar kesehatan bekerja sama dengan rumah sakit
                  Health webinars in collaboration with hospitals

          6.      Pelaksanaan seminar dan free tes HIV/AIDS dan screening TBC
                  Seminars and free HIV/AIDS tests and TBC screening

          7.      Pelaksanaan seminar dan free tes vaksin HPV & pemeriksaan PAPSMEAR
                  Seminars and free HPV vaccine tests & PAPSMEAR examinations

          8.      Audit Internal HSE 2023 berdasarkan Sistem Manajemen Keselamatan dan Kesehatan Kerja PP 50 tahun 2012 dan ISO 45001:2018
                  Conducting the 2023 HSE Internal Audit based on Occupational Health and Safety Management System PP 50 of 2012 and ISO 45001:2018

          9.      Pelaksanaan Safety Patrol 2023 dan pemenuhan Quality, Cost , Delivery Project
                  Implementation of Safety Patrol 2023 and fulfillment of Quality, Cost, Delivery Project

         10.      Penyediaan matriks training Keselamatan, Kesehatan Kerja dan Lingkungan tahun 2023
                  Providing a Safety, Occupational Health, and Environmental training matrix in 2023

          11.     Pengawasan pelaksanaan proyek fasilitas dan renovasi bangunan
                  Supervising the implementation of facility projects and building renovations

          12.     Pelaksanaan review dokumen HIRADC/IBPR Dinas
                  Implementation of HIRADC/IBPR Service document review

          13.     Program 5R 2023
                  Conducting the 5R Program 2023

          14.     Survey Kelelahan Kerja 2023
                  Conducting the 2023 Job Burnout Survey

          15.     Survey Psikologi 2023
                  Conducting the 2023 Psychological Survei

          16.     QHSE Satisfaction Survey 2023
                  Conducting the 2023 QHSE Satisfaction Survey

          17      Pelaksanaan Program Behavior Based Safety (BBS) untuk Dinas Component Services
                  Implementation of the Behavior Based Safety (BBS) Program for the Component Services Service

          18.     Pelaksanaan Webinar Kesehatan
                  Conducting Webinar on Health topics

          19      Pengawasan lost time injury (LTI)
                  Conducting Lost Time Injury (LTI) monitoring

         20.      Pelaksanaan Safety Induction bagi tamu dan pekerja di area Perseroan
                  Implementing Safety Induction for guests and workers in the Company's area




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                                                                  Aktivitas Program
   No.
                                                                       Activities

   21.     Pelaksanaan Emergency drill untuk kondisi gawat darurat earthquake, medical treatment, and customer products accident/incident
           Conducting emergency drills for situations such as earthquakes, medical treatment, and customer product accidents/incidents

   22.     Pelaksanaan Bulan K3 Nasional 2023 di area Perseroan
           Implementation of National HSE Month 2023 in the Company's area

   23.     Pelaporan terhadap HSE Performance Dinas di Perseroan
           Reporting on HSE Performance of Departments in the Company

   24.     Pelaksanaan Management Review HSE 2023
           Conducting the 2023 HSE Management Review

   25      Pelaksanaan Workshop HSE & 5R 2023
           Conducting the 2023 HSE & 5R Workshop

   26.     Pemeriksaan alkohol mandiri untuk personal Dinas Line Maintenance
           Conducting independent alcohol checks for Line Maintenance Service personnel

   27.     Penyusunan HSE Plan untuk pengerjaan non aviasi
           Preparing HSE Plan for non-aviation work

   28.     Pengukuran lingkungan kerja berupa kebisingan dan ergonomi kerja
           Measuring the work environment in terms of noise and work ergonomics



PEMBENTUKAN P2K3                                                         ESTABLISHMENT OF P2K3

Perseroan telah memiliki Panitia Pembina Keselamatan dan                 The Company has formed an Occupational Safety and Health
Kesehatan Kerja (P2K3) yang mengacu kepada Peraturan Menteri             Committee (P2K3) which refers to the Regulation of the Minister
Tenaga Kerja No. PER.04/MEN/1987 tentang Panitia Pembina                 of Manpower No. PER.04/MEN/1987 concerning the Committee
Keselamatan dan Kesehatan Kerja serta Tata Cara Penunjukan               to Guide the Occupational Safety and Health and Procedures to
Ahli Keselamatan Kerja. P2K3 merupakan badan pembantu                    Appoint Occupational Safety Experts. P2K3 becomes an auxiliary
sebagai wadah kerja sama antara Perseroan dan karyawan untuk             body and a forum of cooperation between the Company and
mengembangkan kerja sama dalam penerapan keselamatan                     employees to cooperate in implementing occupational safety
dan kesehatan kerja.                                                     and health.

Keputusan Kepala Dinas Tenaga Kerja dan Transmigrasi                     Based on the Head of the Banten Province Manpower and
Provinsi Banten Nomor 188.4/3/144-DTKT/P2K3/III/2022                     Transmigration Service Decree Number 188.4/3/144-
tanggal 29 Maret 2022 tentang Susunan Pengurus Panitia                   DTKT/P2K3/III/2022 dated March 29, 2022, concerning the
Pembina Keselamatan dan Kesehatan Kerja (P2K3) PT Garuda                 Composition of the Management Committee for Occupational
Maintenance Facility AeroAsia Tbk telah mengesahkan struktur             Safety and Health (P2K3) of PT Garuda Maintenance Facility
organisasi P2K3 Perseroan. Penanggung jawab pengurus P2K3                AeroAsia Tbk has ratified the organizational structure of the
perusahaan adalah Direktur Utama GMF. Pengurus P2K3 diketuai             Company’s P2K3. The person in charge of the Company’s P2K3
Direktur Human Capital & Corporate Affairs dengan jumlah                 management is the President Director of GMF. P2K3 is comprised
anggota 20 orang, yang merupakan Vice President (VP) dari                of 20 members (the Vice President/VP of each department at
masing-masing Dinas yang ada di Perseroan.                               the Company) and is chaired by the Director of Human Capital
                                                                         & Corporate Affairs.




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                                                                                 Ketua P2K3 | Head of P2K3
                                                                         Director of Human Capital & Corporate Affairs




                                                                                                                 Sekretaris P2K3 | Secretary of P2K33
                                                                                                                            Putri Sayekti




                                                                                                                         Human Capital & Corporate
                     Finance                    Line Operation                    Business & Base Operation                                                     President & CEO
                                                                                                                                   Affairs




                                                  VP Line Maintenance                     VP Widebody Base                       VP Human Capital               VP Quality Assurance &
                      VP Accounting
                                                                                             Maintenance                            Management                          Safety



                                                  VP Cabin Maintenance                  VP Narrowbody Base
                  VP Treasury Management                                                                                     VP Corporate Affairs & HSE            VP Internal Audit
                                                        Services                             Maintenance



                       VP Financial                                                                                                                             VP Corporate Secretary
                                                 VP Engineering Services                  VP Engine Services                      VP Procurement
                         Analysis                                                                                                                                      & Legal



                                                                                                                                                                VP Corporate Strategy &
                                                                                       VP Component Services
                                                                                                                                                                Business Development




                                                                                        VP Sales & Marketing




                                                                                        VP Aircraft Support &
                                                                                           Power Services




      Pengurus P2K3 mempunyai tugas untuk memberikan saran dan                                     P2K3 has to give advice and recommendations regarding
      pertimbangan, baik diminta maupun tidak, kepada pengusaha                                    occupational health and safety (OHS), whether requested or
      atau pengurus terkait keselamatan dan kesehatan kerja (K3).                                  not, to employers or administrators. The roles and functions
      Adapun peran dan fungsi anggota P2K3 adalah sebagai berikut:                                 of P2K3 members are as follows:
      1. Menghadiri pertemuan P2K3, memberikan kontribusi berupa                                   1. Attend P2K3 meetings, make contributions through ideas,
         ide, masukan, dan pengalaman terkait K3;                                                      input, and experiences related to HSE;
      2. Mengumpulkan dan melaporkan informasi seluruh                                             2. Collect and report information on all assignments during
         penugasan pada pertemuan P2K3;                                                                P2K3 meetings;
      3. Penilaian terhadap aspek K3;                                                              3. Assessment of HSE aspects;
      4. Mengumpulkan dan menganalisis masukan dari personil                                       4. Collect and analyze input concerning HSE from personnel;
         terkait aspek K3;
      5. Menyampaikan informasi terkait hasil pertemuan P2K3                                       5. Deliver results of P2K3 meetings to all personnel in their
         kepada seluruh personil di area kerja masing-masing; dan                                     respective work areas; and
      6. Melaksanakan inspeksi dan investigasi terkait aspek K3.                                   6. Make inspections and investigations related to HSE aspects.

      TOPIK K3 DALAM PERJANJIAN KERJA                                                              OHS TOPIC IN COLLECTIVE LABOR
      BERSAMA [403-4]                                                                              AGREEMENT [403-4]

      Perseroan menandatangani Perjanjian Kerja Bersama (PKB)                                      The Company signed the 2019-2021 Collective Labor Agreement
      2019-2021 yang memuat sejumlah pasal terkait topik K3                                        (PKB) which contains several articles of HSE as a form of joint
      sebagai bentuk komitmen bersama antara GMF dan karyawan.                                     commitment between GMF and employees. These articles
      Pasal-pasal tersebut mengatur tentang waktu kerja, waktu                                     regulate working time, overtime, sick pay, and welfare facilities.
      kerja lembur, penghasilan pada masa sakit, dan fasilitas                                     Discussion of OHS is also available in a separate chapter, at
      kesejahteraan. Pembahasan K3 secara khusus juga dicantumkan                                  the Occupational Safety and Health. Overall, the discussion of



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dalam Bab tersendiri, yaitu Keselamatan dan Kesehatan Kerja.                OHS, which is set out in PKB covers 16 of the total 88 articles,
Secara keseluruhan, pembahasan K3 yang tercantum dalam                      or 18.18%. This proportion is still the same as last year and it is
PKB dimuat dalam 16 pasal dari 88 pasal atau 18,18% dari                    still relevant to the current situation. The articles that discussed
keseluruhan topik yang tercakup dalam PKB. Proporsi ini masih               OHS are as follows:
sama dengan proporsi di tahun sebelumnya karena Perseroan
masih menganggap bahwa hal tersebut masih relevan dengan
kondisi saat ini. Rincian pasal K3 tersebut adalah sebagai berikut:


               Pasal                                                                  Topik
              Articles                                                                Topics

 Pasal 21                             Waktu Kerja
 Article 21                           Working Hours

 Pasal 22                             Waktu Istirahat Menyusui Bagi Karyawati
 Article 22                           Nursing Break for Female Employees

 Pasal 23                             Waktu Kerja Lembur
 Article 23                           Overtime

 Pasal 24                             Hari Libur Resmi
 Article 24                           Official Holidays

 Pasal 25                             Waktu Istirahat dan Cuti
 Article 25                           Break Time and Work Leave

 Pasal 27                             Cuti Khusus Karyawati
 Article 27                           Special Leave for Female Employees

 Pasal 28                             Fasilitas Khusus Ruang Menyusui dan Perawatan Bayi
 Article 28                           Special Facility of Nursery and Baby Care Room

 Pasal 42                             Jenis Pemutusan Hubungan Kerja
 Article 42                           Type of Employment Termination

 Pasal 49                             Pemutusan Hubungan Kerja karena Meninggal Dunia
 Article 49                           Employment Termination due to Death

 Pasal 51                             Hak-hak Kepegawaian
 Article 51                           Employee Rights

 Pasal 61                             Penghasilan Pada Masa Sakit
 Article 61                           Income during Sick Leave

 Pasal 67                             Upah Kerja Lembur
 Article 67                           Overtime Payment

 Pasal 76                             Pemberian Fasilitas Kesejahteraan
 Article 76                           Provision of Welfare Facilities

 Pasal 77                             Jenis Fasilitas Kesejahteraan
 Article 77                           Types of Welfare Facilities

 Pasal 85                             Manajemen K3
 Article 85                           HSE Management

 Pasal 86                             Program Keselamatan dan Kesehatan Kerja
 Article 86                           Occupational Health and Safety Programs

 Lampiran IV                          Besarnya Uang Pesangon
 Attachment IV                        Severance Payment

 Lampiran X                           Program Kesehatan Pensiunan
 Attachment X                         Pension Health Program




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      SISTEM MANAJEMEN KESELAMATAN DAN                                            WORK HEALTH AND SAFETY MANAGEMENT
      KESEHATAN KERJA                                                             SYSTEM

      GMF telah menerapkan Sistem Manajemen Keselamatan dan                       GMF has implemented an Occupational Health and Safety
      Kesehatan Kerja (SMK3) yang disesuaikan dengan Peraturan                    Management System (SMK3) according to Government
      Pemerintah No. 50 tahun 2012 tentang Penerapan Sistem                       Regulation No. 50 of 2012 concerning the Implementation of
      Manajemen Keselamatan dan Kesehatan Kerja. Tujuan dari                      Occupational Health and Safety Management Systems. SMK3
      penerapan SMK3 adalah untuk meningkatkan efektivitas                        is implemented to increase the effectiveness of occupational
      perlindungan keselamatan dan kesehatan kerja untuk mencegah                 safety and health protection to prevent occupational accidents
      kecelakaan kerja dan penyakit akibat kerja. Pada tahun 2023,                and diseases. In 2023, GMF has implemented SMK3 according
      GMF telah melaksanakan SMK3 yang diterapkan sesuai dengan                   to the ISO 45001:2018 standard and SMK3 PP 50/2012 after
      standar ISO 45001:2018 dan SMK3 PP 50 Tahun 2012 setelah                    a surveillance audit by Sucofindo International Certification
      melaksanakan proses audit surveillance yang dilakukan oleh                  Services, an external party.
      pihak eksternal yaitu Sucofindo International Certification
      Services.




      TINGKAT KECELAKAAN KERJA
      Accident Rate at Work


      Bidang usaha Perseroan di industri MRO memiliki risiko                      The Company’s line of business in the MRO industry has work
      terjadinya kecelakaan kerja yang mungkin terjadi akibat faktor              risks that may occur due to human error or other factors. Every
      human error ataupun lainnya. GMF menerapkan Safety Induction                employee went to Safety Induction to prevent and reduce
      kepada setiap karyawan untuk mencegah dan mengurangi                        workplace accidents. In 2023, there were several work accidents
      kemungkinan terjadinya kecelakaan kerja. Pada tahun 2023,                   but none resulted in death as presented in the following table:
      tercatat telah terjadi insiden kecelakaan kerja namun dan tidak             [403-9, 403-10]
      ada insiden yang mengakibatkan kematian sebagaimana tersaji
      dalam tabel berikut: [403-9, 403-10]


                                                              Tingkat Penyakit Akibat
                                 Tingkat Cedera (IR)               Kerja (ODR)            Tingkat Hari Hilang (LDR)         Tingkat Absen (AR)
            Wilayah                 Injury Rate (IR)          Occupational Disease Rate      Lost Day Rate (LDR)             Absence Rate (AR)
             Area                                                      (ODR)

                                Pria             Wanita         Pria         Wanita         Pria         Wanita            Pria           Wanita
                                Male             Female         Male         Female         Male         Female            Male           Female

        Hangar 1                   0.18%                  0            0              0         1.43               0              0                 0

        Hangar 2                   0.05%                  0            0              0        0.39                0              0                 0

        Hangar 3                   0.08%                  0            0              0        0.65                0              0                 0

        Hangar 4                   0.33%                  0            0              0        2.60                0              0                 0

        Workshop 1                 0.07%                  0            0              0        0.52                0              0                 0

        Workshop 2                 0.02%                  0            0              0         0.13               0              0                 0

        Facility                  0.00%                   0            0              0        0.00                0              0                 0

        Material Building          0.02%                  0            0              0         0.13               0              0                 0

        GSE                       0.00%                   0            0              0        0.00                0              0                 0

        Engine Shop               0.00%                   0            0              0        0.00                0              0                 0

        Test Cell                  0.03%                  0            0              0        0.26                0              0                 0

        Chemical Store            0.00%                   0            0              0        0.00                0              0                 0

        Learning Service          0.00%                   0            0              0        0.00                0              0                 0

        Apron                     0.00%                   0            0              0        0.00                0              0                 0




      Laporan Terintegrasi 2023 Integrated Report                                                          PT Garuda Maintenance Facility Aero Asia Tbk
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                                                      Tingkat Penyakit Akibat
                          Tingkat Cedera (IR)              Kerja (ODR)            Tingkat Hari Hilang (LDR)        Tingkat Absen (AR)
     Wilayah                 Injury Rate (IR)         Occupational Disease Rate      Lost Day Rate (LDR)            Absence Rate (AR)
      Area                                                     (ODR)

                          Pria           Wanita         Pria         Wanita         Pria          Wanita          Pria            Wanita
                          Male           Female         Male         Female         Male          Female          Male            Female

 Multibase                  0.02%                 0            0              0         0.13               0             0                  0

 Public area                0.02%                 0                           0         0.13               0             0                  0

 Jumlah                     0.81%                 0            0              0         6.39               0             0                  0
 Total


Berdasarkan analisa yang dilakukan, beberapa insiden kecelakaan           Based on the analysis, some of these work accidents were
kerja ini diakibatkan kurangnya kehati-hatian pada pekerjaan di           caused by a lack of caution when working from morning until
pagi-siang hari. Dengan terjadinya insiden tersebut, GMF telah            the afternoon. GMF had taken actions to correct and prevent
melakukan tindakan perbaikan dan pencegahan, di antaranya:                future accidents as follows: [403-6, 403-7]
[403-6, 403-7]
1. Penyediaan fasilitas pencegahan kecelakaan kerja meliputi              1. Provided work accident prevention facilities, including safety
    Safety Sign dan rambu-rambu peringatan;                                  signs and warning signs;
2. Pelaksanaan program Behavior Based Safety (BBS);                       2. Implemented the Behavior Based Safety (BBS) program;
3. Pelaksanaan Safety Briefing kepada personil terkait                    3. Conducted Safety Briefings for personnel regarding work
    kecelakaan kerja dan prosedur kerja aman;                                accidents and safe work procedures;
4. Pelaksanaan dan pemantauan Preventive Maintenance                      4. Implemented and monitored the Preventive Maintenance
    Inspection (PMI);                                                        Inspections (PMI);
5. Penyediaan dan pemantauan Alat Pelindung Diri (APD);                   5. Provided and monitored Personal Protective Equipment (PPE);
6. Pelaksanaan Safety Patrol rutin.                                       6. Conducted routine Safety Patrols.

KESEHATAN PEGAWAI                                                         EMPLOYEES HEALTH

Perseroan telah menerapkan kebijakan serta menyediakan                    The Company has implemented policies and provided work safety
sarana dan prasarana keselamatan kerja. Fasilitas kesehatan               facilities and infrastructure. The health facilities are InHouse
yang disediakan Perseroan berupa InHouse Clinic, pelayanan                Clinic, examination services by general practitioners, dentists,
pemeriksaan oleh dokter umum, dokter gigi, pelayanan UGD dan              emergency services, ambulance, pharmacies, and optics. The
ambulans, apotek, dan optik. Perseroan juga memiliki fasilitas            Company also has a blood sampling facility.
pengambilan sampel darah.

BIAYA TERKAIT PENGELOLAAN ASPEK                                           COST OF EMPLOYMENT, OCCUPATIONAL
KETENAGAKERJAAN, KESELAMATAN DAN                                          HEALTH, AND SAFETY MANAGEMENT
KESEHATAN KERJA

Biaya yang dikeluarkan Perseroan untuk mengelola aspek                    The Company spent Rp2,296,609,204 to manage employment,
ketenagakerjaan, keselamatan, dan kesehatan kerja pada tahun              safety, and health aspects in 2023. This represents an increase
2023 berjumlah Rp2.296,609,204. Terjadi peningkatan sebesar               of 37.88% compared to the previous year. This increase occurred
37,88 % dibandingkan tahun sebelumnya. Hal ini terjadi karena             because the Company made adjustments to activities related
Perseroan telah melakukan penyesuaian aktivtas terkait K3 dan             to HSE and fulfilled statutory requirements and other relevant
pemenuhan terhadap persyaratan perundangan dan persyaratan                requirements related to HSE implementation.
lain yang relevan terkait implementasi K3.




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                                                                                                                       Kenaikan         Penyerapan
                                                                                                                     (Penurunan)         Anggaran
                                                      Realisasi 2023       Realisasi 2022      Anggaran 2022
                        Perihal                                                                                        Increase            2023
                                                      2023 Realization     2022 Realization     Budget 2022
                        Subject                                                                                       (Decrease)        2023 Budget
                                                           (Rp)                 (Rp)               (Rp)
                                                                                                                      2022-2023          Absorption
                                                                                                                          (%)               (%)

        Pengelolaan K3                                     2,168,663,804       1,525,748,580        2,866,413,684            42.14%            75.66%
        OHS Management

        Sertifikasi K3                                      70,600,000          55,000,000          315,000,000             28.36%              22.41%
        OHS Certification

        Training K3                                          28,445,400          51,515,080         100,500,000            (44.78%)             28.3%
        OHS Training

        Sosialisasi dan Promosi K3                           28,900,000          33,712,000          33,500,000             (14.27%)           86.27%
        OHS Socialization and Promotion

        Jumlah
                                                         2.296,609,204       1,665,705,660         3,315,413,684            37.88%             69.27%
        Total


      PENCAPAIAN TANGGUNG JAWAB SOSIAL                                            ACHIEVEMENT IN SOCIAL RESPONSIBILITY
      TERKAIT KETENAGAKERJAAN, KESELAMATAN                                        FOR EMPLOYMENT, OCCUPATIONAL HEALTH,
      DAN KESEHATAN KERJA                                                         AND SAFETY

      Kondisi lingkungan kerja GMF terbilang kondusif dimana hingga               GMF’s work environment was conducive until the end of 2023
      akhir tahun 2023 tidak terdapat permasalahan antara karyawan                with no major issues between employees and the Company that
      dan Perseroan yang berdampak besar terhadap keberlangsungan                 could affect business continuity. Every issue on employment
      usaha. Setiap permasalahan mencakup ketenagakerjaan dapat                   was resolved properly by the Human Capital Division through
      diselesaikan dengan baik oleh Divisi Human Capital dengan                   a communicative and constructive approach.
      melakukan pendekatan komunikatif dan konstruktif.

      Perseroan juga memiliki sertifikasi ISO 45001:2018 –                        The Company has obtained the ISO 45001:2018 – Occupational
      Occupational Health Safety Management System yang diberikan                 Health Safety Management System certification from Sucofindo
      oleh Sucofindo International Certification Services. Sertifikasi            International Certification Services. This certification is an
      ini merupakan upgrade dari sertifikat OHSAS 18001:2007                      upgrade from the OHSAS 18001:2007 certificate that the
      yang telah didapatkan sebelumnya. Sertifikan ISO 45001:2018                 Company has obtained. The ISO 45001:2018 certificate was
      diterbitkan pada tanggal 24 Juni 2021 dan berlaku hingga 23                 issued on June 24, 2021, and is valid until June 23, 2024. In
      Juni 2024. Selain itu SMK3 yang dimiliki Perseroan juga telah               addition, the Company’s SMK3 has also been legitimized by the
      mendapatkan legitimasi dari Menteri Ketenagakerjaan Republik                Minister of Manpower of the Republic of Indonesia.
      Indonesia.

      Selain itu, Perseroan juga mendapatkan sertifikat penghargaan               In addition, the Company also received a zero accident certificate
      kecelakaan nihil dari Menteri Ketenagakerjaan Republik Indonesia            of merit from the Minister of Manpower of the Republic of
      yang terbit pada tahun 2023. Perseroan juga mendapatkan                     Indonesia in 2023. The Company also received a certificate of
      sertifikat dari Dinas Tenaga Kerja dan Transmigrasi Provinsi                merit from the Manpower and Transmigration Office of Banten
      Banten terkait penghargaan kecelakaan nihil, P2K3, dan P2                   Province in terms of zero accident, P2K3, and P2 COVID.
      COVID.




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                     MELAYANI PELANGGAN DENGAN SEPENUH HATI
                                                                           Serving Our Customers Wholeheartedly


PENGUNGKAPAN MANAJEMEN TOPIK                                          DISCLOSURE OF MATERIAL TOPIC
MATERIAL [3-3]                                                        MANAGEMENT [3-3]

Perseroan berkomitmen mengedepankan kepuasan pelanggan                The Company is committed to prioritizing customer (client)
(klien) untuk menjaga keberlangsungan bisnis melalui layanan          satisfaction to maintain business continuity through quality
berkualitas yang sesuai standar industri. Komitmen ini didukung       services that comply with industry standards. This commitment
dengan adanya Quality Assurance & Safety dan pemenuhan                is supported by the existence of Quality Assurance & Safety
tuntutan regulasi dari berbagai otoritas penerbangan (DKPPU,          and fulfillment of regulatory demands from various aviation
EASA, FAA, dll) untuk menjamin safety, quality, airworthy.            authorities (DKPPU, EASA, FAA, etc.) to ensure safety, quality,
                                                                      airworthiness.



                                                    Kepuasan Pelanggan
                                                    Customer Satisfaction




          Planning gate menjaga                       Standarisasi fasilitas                           Menjaga ketersediaan
          aktivitas production planning               pelanggan sesuai dengan                          fasilitas dalam melayani
          & control untuk memastikan                  SLA yang ditetapkan oleh                         pelanggan/pengguna untuk
          quality, cost, delivery sesuai              corporate affairs untuk                          menjamin kenyamanan kerja
          dengan harapan pelanggan                    meningkatkan indeks                              dan mendukung kegiatan
          planning gate as tools in                   kepuasan pelanggan dari sisi                     operasional
          production planning & control               layanan fasilitas                                Facility readiness in serving
          to maintain quality, cost, and              Standardize customer                             customer/users to ensure
          delivery that meet customer                 facilities according to the                      work convenience and
          expectations                                SLA set by corporate affairs                     support operational activities
                                                      to improve the customer
                                                      satisfaction index in terms of
                                                      facility services




MENJAMIN KEPUASAN PELANGGAN [F.17]                                    ENSURING CUSTOMER SATISFACTION [F.17]

Perseroan memiliki staf khusus di bidang Customer Service             The Company has a dedicated staff in Customer Service
yang bertanggung jawab menerima segala keluhan mengenai               responsible for receiving all complaints on aircraft maintenance
perawatan dan perbaikan pesawat yang tengah dijalankan.               and repair. There is a guarantee that forms as a way to increase
Terdapat garansi sebagai salah satu cara untuk meningkatkan           the customers’ interest and trust.
ketertarikan dan kepercayaan dari pelanggan.

Perseroan juga memiliki Engineering Services yang bertanggung         The Company also has Engineering Services which is responsible
jawab memastikan semua ketentuan dalam deliverable items              for ensuring that all obligations concerning GMF deliverable
dari GMF sesuai dengan contract agreement atau Procedure              have followed the contract agreement or Procedure Manual
Manual (PRM). Engineering Services juga bertanggung jawab             (PRM). Engineering Services is also responsible to make the
menjalankan agenda customer intimacy melalui pertemuan                relationship with customers more intimate through regular
atau survei berkala untuk mendapatkan tanggapan yang dapat            meetings or surveys to get responses that can build the quality
membangun kualitas pelayanan GMF.                                     of GMF services.




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      Perseroan juga memastikan adanya komunikasi yang erat                The Company also ensures close communication with customers
      dengan pelanggan melalui berbagai media komunikasi dan               through various communication media and activities such as
      aktivitas seperti direct selling, media massa, media elektronik,     direct selling, mass media, electronic media, and print media.
      dan media cetak. Website GMF juga senantiasa diperbarui secara       The GMF website is also regularly updated to cover useful
      berkala untuk memuat informasi mengenai produk/jasa yang             information about products/services for customers.
      berguna bagi pelanggan.

      Semua program tersebut dijalankan dengan berpegangan                 All of these programs were carried out according to the applicable
      kepada standar kualitas yang berlaku di industri, termasuk salah     industry’s quality standards including the international standard
      satunya ISO 9001:2015 sebagai standar internasional di bidang        of ISO 9001:2015 in the quality management systems. The
      sistem manajemen mutu. Perseroan mengimplementasikan                 Company implements ISO 9001:2015 in the business
      ISO 9001:2015 ke dalam proses bisnis untuk meningkatkan              processes to improve product quality, business standards, and
      kualitas produk, standar bisnis, dan daya saing.                     competitiveness.

      SURVEI KEPUASAN PELANGGAN [F.30]                                     CUSTOMER SATISFACTION SURVEY [F.30]

      Perseroan terus menjalankan Survei Kepuasan Pelanggan                The Company has kept on conducting a Customer Satisfaction
      (Customer Satisfaction Index) yang terbukti efektif untuk            Index that has proven to be very effective in measuring the
      mengukur tingkat kepuasan dan persepsi pelanggan terhadap            customer’s satisfaction level and perceptions of GMF products/
      produk/layanan GMF. Hasil survei dapat digunakan Perseroan           services. The Company can use the survey to determine the
      untuk mengetahui posisi GMF di peta persaingan agar dapat            position of GMF on the competitive map to improve service
      meningkatkan kualitas pelayanan. Survei tahun 2023 telah             quality. The 2023 survey has been conducted through Customer
      dilakukan melalui metode Customer Survey Index yang                  Survey Index once a year by the Sales & Marketing Service and
      dilaksanakan 1 kali dalam setahun oleh Dinas Sales & Marketing       the Quality Assurance & Safety Service, in collaboration with an
      dan Dinas Quality Assurance & Safety, bekerja sama dengan            independent surveyor to ensure the validity and independence
      independent surveyor untuk memastikan validitas data dan             of data.
      independensi.

      Total terdapat 13 pelanggan dengan kontribusi pendapatan             In total there were 13 customers with the largest revenue
      terbesar yang telah diwawancara sebagai perwakilan responden         contribution who were interviewed as representatives. The
      untuk survei. Kriteria atau indikator yang digunakan dalam survei    criteria or indicators for the survey were Quality standards, TAT,
      adalah terkait dengan Quality standards, TAT, Communication,         Communication, Personal Competency & Availability.
      Personal Competency & Availability.

      INOVASI PRODUK/LAYANAN                                               INNOVATION IN PRODUCT/SERVICES

      Hingga akhir tahun 2023, tidak terdapat pelayanan GMF yang           Until the end of 2023, there were no services of GMF that were
      ditarik kembali dari pasar. GMF telah memastikan setiap produk       recalled. GMF has ensured that every marketed product has
      yang dipasarkan telah melalui proses inspeksi yang ketat. Selain     undergone rigorous inspection processes. Additionally, GMFhas
      itu GMF telah memiliki kontrak jangka panjang dengan standar         long-term contracts with established standards.[F.29]
      yang telah ditetapkan. [F.29]

      Selain itu, GMF tidak melakukan inovasi terkait produk atau jasa     In addition, GMF did not make any innovation related to
      terkait keberlanjutan. [F.26]                                        sustainable product or services. [F.26]

      Perseroan terus melakukan pengembangan kapabilitas dan               The Company continues to develop the capabilities and capacities
      kapasitas di beberapa lini bisnis GMF. Pengembangan yang             of its business lines. The developments throughout 2023 were:
      berhasil dilakukan selama tahun 2023 adalah sebagai berikut:


                                          Produk                                            Pengembangan Kapabilitas
                                          Product                                             Capability Development

        Line Maintenance                                                  B787

        Base Maintenance                                                  A330NEO




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MENJAMIN KESEHATAN DAN KESELAMATAN                                 ENSURING CUSTOMERS HEALTH AND
PELANGGAN [F.27]                                                   SAFETY [F.27]

Perseroan memberikan perhatian kepada pelanggan yang               The Company pays attention to the customers’ health and safety.
mencakup aspek kesehatan dan keselamatan mereka. Unit              The responsible unit for maintaining the quality of products and
kerja yang bertanggung jawab dalam menjaga kualitas produk         services for the customer’s health and safety is the Quality,
dan layanan demi tercapainya kesehatan dan keselamatan             Health, Safety & Environment, and Quality Assurance & Safety
pelanggan adalah dinas Quality, Health, Safety & Environment       Departments. There are standard policies to ensure the quality
dan Quality Assurance & Safety. Terdapat sejumlah standar          of products and services that cares for the customer’s health
kebijakan kerja untuk menjamin kualitas produk dan layanan         and safety.
yang berkualitas dan memperhatikan aspek kesehatan dan
keselamatan pelanggan.

Selama tahun 2023, GMF telah melaksanakan program kerja            In 2023, GMF has implemented several programs to maintain
yang bertujuan untuk menjaga kualitas dan keselamatan              customer quality and safety, including:
pelanggan meliputi:
1. Complaint Handling                                              1. Complaint Handling
   Guna memaksimalkan layanan pada pelanggan, GMF                     To maximize its service to customers, GMF has assigned
   menugaskan dedicated personnel yang sebagai Customer               dedicated personnel as Customer Service to receive all
   Service yang bertanggung jawab menerima segala keluhan             complaints regarding aircraft maintenance and repairs.
   mengenai perawatan dan perbaikan pesawat yang tengah               The Complaint Handling has been running quite well and
   dijalankan. Saat ini Complaint Handling telah berjalan dengan      the Company will assess its consistency to maximize its
   cukup baik dan akan terus dievaluasi konsistensinya sehingga       benefits to customers. GMF has also provided a guarantee
   pelanggan dapat merasakan manfaatnya. Selain itu, GMF              and conducted an improvement program to make the
   juga telah memberikan garansi dan improvement program              customers more interested and trust.
   sebagai salah satu cara untuk meningkatkan ketertarikan
   dan kepercayaan dari pelanggan.

2. Customer Satisfaction Improvement [F.30]                        2. Customer Satisfaction Improvement [F.30]
   Sebagai organisasi di bidang jasa, kepuasan pelanggan              As a service company, customer satisfaction must be
   merupakan faktor mutlak yang harus diwujudkan. Semakin             maintained. The higher the customer satisfaction, the greater
   tinggi kepuasan pelanggan, maka semakin besar kepercayaan          the trust that the Company will receive. GMF has once again
   pasar. GMF kembali melakukan Survei Kepuasan Pelanggan             conducted a Customer Satisfaction Index Survey to measure
   (Customer Satisfaction Index Survey) untuk mengukur tingkat        the customer satisfaction level this year. This survey was
   kepuasan pelanggan pada tahun ini. Survei ini bertujuan            aimed to measure the level of satisfaction and customer
   untuk mengukur tingkat kepuasan dan persepsi pelanggan             perceptions of GMF products and services. Knowing GMF’s
   terhadap produk dan layanan GMF. Dengan mengetahui                 position among competitors will make GMF more focused
   posisi GMF di antara pesaing akan membuat GMF lebih                on improving its services.
   fokus dalam meningkatkan layanannya.

    Pada tahun 2023 nilai Customer Satisfaction Index GMF             In 2023, the GMF Customer Satisfaction Index value is 3.97.
    adalah sebesar 3,97. Pencapaian tersebut lebih tinggi             This achievement is higher than the 2022 value of 3.70.
    dari pencapaian tahun tahun 2022 yaitu sebesar 3,70.              The assessment was obtained from a survey using two
    Penilaian survei tersebut didapatkan dari survei melalui          methods: CSI (direct interview method with customers)
    dua metode yaitu CSI (metode wawancara langsung dengan            and PPS Services, which were filled out by customers after
    pelanggan) dan PPS Services yang diisi oleh pelanggan             the work was completed. GMF is currently striving to make
    setelah pengerjaan selesai. Adapun GMF saat ini masih             improvements and consistently develop and enhance the
    terus berusaha melakukan perbaikan dan konsisten                  quality of service to customers.
    mengembangkan juga meningkatkan kualitas pelayanan
    terhadap pelanggan.




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      3. Customer Retention Program                                     3. Customer Retention Program
         Program ini bertujuan untuk menjaga hubungan baik                 Through this program, GMF has an objective to maintain its
         GMF dengan pelanggan. Dalam menjalankan bisnis                    relationship with customers. Communication is important for
         perawatan pesawat, komunikasi adalah hal yang penting             an aircraft maintenance company, especially when informing
         khususnya dalam menginformasikan segala perbaikan                 the improvements on the quality of aircraft maintenance
         untuk meningkatkan kualitas perawatan pesawat dan                 and getting feedback to create continuous improvements.
         mendapatkan umpan balik dari usaha untuk melahirkan
         perbaikan berkelanjutan.

      Sebagai sarana memudahkan pelanggan dalam mendapatkan             To facilitate customers in obtaining information related to the
      informasi terkait layanan Perseroan, GMF menyediakan fasilitas    Company’s services, GMF utilizes direct selling, mass media,
      berupa direct selling, media massa, media elektronik, dan media   electronic media, and print media. When using electronic media
      cetak. Dalam menjalankan promosi media elektronik, GMF            for promotions, GMF manages the social media, sends email
      mengelola media sosial, mengirimkan email newsletter dan          newsletters, creates a website with information, and promotes
      membuat situs web yang dapat diakses dengan tujuan dapat          the products.
      memberikan informasi yang informatif serta mempromosikan
      mengenai produk-produk yang ditawarkan oleh Perseroan.

      DAMPAK PRODUK/JASA [F.28]                                         IMPACT OF PRODUCTS/SERVICES [F.28]

      Sebagai perusahaan yang bergerak di bidang MRO, Perusahaan        As a company operating in the MRO sector, GMF has had a
      telah memberikan dampak yang positif bagi masyarakat,             positive impact on society, even if the impact can not be felt
      walaupun dampaknya tidak dapat dirasakan secara langsung.         directly by the society. Ensuring the safety and airworthiness
      Keamanan dan kelaikan udara sebuah pesawat terbang, baik          of aircraft, whether for commercial passenger transportation
      untuk keperluan komersial (mengangkut penumpang) dan kargo        or cargo services, supports economic activity by facilitating the
      untuk barang, mendukung kegiatan ekonomi. Perpindahan             movement of people and goods. This smooth flow of economic
      antara orang dan barang memastikan adanya kegiatan ekonomi        activity is instrumental in promoting overall economic growth.
      yang lancar dan hal ini sangat bermanfaat untuk mendorong
      pertumbuhan ekonomi.

      Ekspansi bisnis GMF di bidang military juga membawa dampak        Furthermore, GMF’s expansion into the military sector has also
      positif secara tidak langsung. Kehadiran armada pesawat militer   has indirect positive effects. The presence of a capable fleet of
      yang tangguh memastikan ketahanan dan keamanan nasional.          military aircraft contributes to national resilience and security.

      Hingga saat ini, belum terdapat dampak negatif secara material    Thus far, there have been no significant negative impacts
      yang muncul dari kegiatan operasional usaha. GMF selalu           stemming from GMF’s operational activities. The Company
      mematuhi dan melaksanakan standar operasional sesuai praktik      consistently adheres to and implements operational standards
      industri terbaik, terutama dalam hal pengelolaan limbah B3 dan    in line with industry best practices, particularly in terms of B3
      keamanan operasional sehingga tidak mengakibatkan dampak          waste management and operational safety, mitigating any
      material bagi masyarakat.                                         potential adverse effects on the community.

      BIAYA TERKAIT PRODUK/JASA DAN                                     COST OF PRODUCTS/SERVICES AND
      PELANGGAN                                                         CUSTOMERS

      Biaya yang dikeluarkan oleh Perseroan untuk mengelola             The Company spent Rp3,838,750,000 to manage product/
      aspek produk/jasa dan pelanggan pada tahun 2023 berjumlah         service and customer aspects in 2023. This represents an
      Rp3,838,750,000. Terjadi kenaikan sebesar 62% dibandingkan        increase of 62% compared to the previous year, driven by the
      tahun sebelumnya yang disebabkan oleh perkembangan industri       improved situation of the aviation industry and the growth
      penerbangan dan pertumbuhan maskapai penerbangan di dunia         of airlines worldwide, resulting in an increase of events and
      sehingga mulai maraknya acara dan agenda kegiatan seputar         agendas regarding the aviation industry.
      industri penerbangan.




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                                                                                                     Kenaikan
                                                                                                 (Penurunan) 2022-           Penyerapan
                              Realisasi 2023       Realisasi 2022        Anggaran 2022
        Perihal                                                                                        2023                Anggaran 2023
                              2023 Realization     2022 Realization       Budget 2022
        Subject                                                                                 Increase (Decrease)         2023 Budget
                                   (Rp)                 (Rp)                 (Rp)
                                                                                                    2022-2023               Absorption (%)
                                                                                                        (%)

 Promotion                         3,838,750,000        3,105,262,000           6,513,613,200                    62%                       59%



PENCAPAIAN TANGGUNG JAWAB SOSIAL                                        ACHIEVEMENT ON SOCIAL RESPONSIBILITY
TERKAIT PRODUK/JASA DAN PELANGGAN                                       FOR PRODUCTS/SERVICES AND CUSTOMERS

Dari sisi keluhan, terdapat penurunan keluhan dibandingkan              The Company received less complaints compared to the previous
tahun sebelumnya dengan informasi sebagai berikut:                      year with the following details:


                                Jumlah Keluhan 2023     Jumlah Keluhan 2022
       Tipe Keluhan                                                                Status Penyelesaian            Upaya Penyelesaian
                                Number of Complaints    Number of Complaints
      Complaint Types                                                               Completion status              Settlement Efforts
                                       2023                    2022

 Quality                                           8                       14     Selesai                   Melakukan pengawasan agar
                                                                                  Done                      sesuai dengan standar
                                                                                                            Monitoring to keep it according
                                                                                                            to standard

 On-Time Delivery                                   -                      6      Selesai                   Membenahi business process
                                                                                  Done                      Improving business process

 Capacity & Manpower                                1                      3      Selesai                   Melakukan capacity expansion,
                                                                                  Done                      penambahan, dan pelatihan
                                                                                                            untuk manpower
                                                                                                            Performed capacity expansion,
                                                                                                            adding, and training the
                                                                                                            manpower

 Communication                                      1                       1     Selesai                   Melakukan perbaikan alur
                                                                                  Done                      komunikasi internal dan eksternal
                                                                                                            Improved the internal
                                                                                                            communication flow internally
                                                                                                            and externally

 Process                                            1                      9      Selesai                   Melakukan pengawasan bisnis
                                                                                  Done                      proses
                                                                                                            Monitoring the business process

 Facility                                          8                       6      Selesai                   Melakukan pembenahan dan
                                                                                  Done                      koordinasi secara berkala
                                                                                                            Making regular improvement and
                                                                                                            coodination

 Jumlah
                                                   19                     40
 Total




PT Garuda Maintenance Facility Aero Asia Tbk                                                         Laporan Terintegrasi 2023 Integrated Report
Page 418
418                                                                                                                                  Laporan Keberlanjutan
                                                                                                                                        Sustainability Report




      Lembar Umpan Balik [G.2]
      Feedback Form [G.2]


      Laporan Terintegrasi 2023 PT Garuda Maintenance Facility                       The Integrated Report of PT Garuda Maintenance Facility
      Aero Asia Tbk Tbk memberikan gambaran kinerja keuangan                         Aero Asia Tbk in 2023 provides the financial and sustainability
      dan keberlanjutan. Kami membuka masukan dan saran dari                         performance of the Company. We are open to any input or
      pemangku kepentingan terkait Laporan ini dengan mengirim                       suggestion from stakeholders regarding this Report through
      formulir ini melalui email atau pos.                                           the following form that can be filled out and sent back to us
                                                                                     via email or mail.

      MOHON CENTANG JAWABAN YANG PALING                                              PLEASE TICK ON THE MOST APPRORIATE
      SESUAI                                                                         ANSWER

       1. Laporan ini menarik dan mudah dimengerti | This report is interesting and easy to understand

       Tidak setuju | Disagree                               Netral | Neutral                              Setuju | Agree

       2. Laporan ini sudah menggambarkan kinerja Perseroan dalam pembangunan keberlanjutan | This report describe the Company's performance
          in sustainable development

       Tidak setuju | Disagree                               Netral | Neutral                              Setuju | Agree

       3. Laporan ini meningkatkan kepercayaan Anda pada keberlanjutan Perseroan| This report increase Your trust to the Company’s sustainability

       Tidak setuju | Disagree                               Netral | Neutral                              Setuju | Agree

       4. Topik material apa yang paling penting bagi Anda: (nilai 1=paling penting s/d 4=paling tidak penting) | Material topic(s) which is(are) important
          to you: (1=most important to 4=least important)

            •   Pertumbuhan Kinerja Keuangan |Financial Performance Growth                                   ()

            •   Kualitas Produk dan Layanan | Product and Service Quality                                    ()

            •   Inovasi dan Pengembangan Teknologi | Technology Innovation and Development                   ()

            •   Kepuasan Pelanggan | Customer Satisfaction                                                   ()

            •   Kepuasan Kerja | Job Satisfaction                                                            ()

            •   Pertumbuhan Kinerja Keuangan | Financial Performance Growth                                  ()

            •   Kualitas Produk dan Layanan | Product and Service Quality                                    ()

       5. Mohon berikan saran/usul/komentar anda atas laporan ini | Kindly provide your inputs/suggestions/comments about this report


      MOHON KIRIMKAN KEMBALI LEMBAR UMPAN                                            PLEASE RETURN THIS FEEDBACK FORM TO:
      BALIK KEPADA:

      KANTOR PUSAT                                                                   HEAD OFFICE

      Lantai 2, Lobby Selatan Hangar 4                                               Second Floor, South Lobby Hangar 4
      PT Garuda Maintenance Facility Aero Asia Tbk                                   PT Garuda Maintenance Facility Aero Asia Tbk
      Area Perkantoran Bandara Soekarno-Hatta, Kelurahan Pajang,                     Soekarno-Hatta Airport Office Area, Pajang Village, Benda
      Kecamatan Benda, Kota Tangerang, Banten 15125                                  District, Tangerang City, Banten 15125


       Fax | Facsimile                                : +62 21 550 3555

       Telepon | Phone                                : +62 21 550 8717/ 8727/8737

       Surel | Email                                  : corporatecommunications@gmf-aeroasia.co.id




      Laporan Terintegrasi 2023 Integrated Report                                                                PT Garuda Maintenance Facility Aero Asia Tbk
Page 419
                                                                                                                                                     419



                         DAFTAR PENGUNGKAPAN SESUAI POJK 51/2017
                                                       [OJK G.4]
                                                                               POJK 51/2017 Disclosure Index [OJK G.4]

     Indikator                                                       Penjelasan                                                    Halaman
     Indicator                                                       Description                                                    Page

 Strategi Keberlanjutan | Sustainability Strategy

         A.1          Penjelasan Strategi Keberlanjutan                                                                               383
                      Explanation on Sustainability Strategy

 Ikhtisar Kinerja Keberlanjutan | Sustainability Performance Highlights

         B.1          Ikhtisar Kinerja Ekonomi                                                                                         14
                      Economic Performance Highlights

         B.2          Ikhtisar Kinerja Lingkungan Hidup                                                                               376
                      Environmental Performance Highlihts

        B.3           Ikhtisar Kinerja Sosial                                                                                         376
                      Social Performance Highlights

 Profil Perusahaan | Company Profile

         C.1          Visi, Misi, dan Nilai Keberlanjutan                                                                              51
                      Vision, Mission, and Value of Sustainability

        C.2           Alamat Perusahaan                                                                                                46
                      Company’s Address

        C.3           Skala Perusahaan                                                                                                 47
                      Scale Enterprises

        C.4           Produk, Layanan, dan Kegiatan Usaha yang Dijalankan                                                              59
                      Products, services and Business Activities

        C.5           Keanggotaan Pada Asosiasi                                                                                        58
                      Member of Association

        C.6           Perubahan Organisasi Bersifat Signifikan                                                                         64
                      Change of Significant Organization

 Penjelasan Direksi | Directors Statement

         D.1          Penjelasan Direksi                                                                                               38
                      Directors Statement

 Tata Kelola Keberlanjutan | Sustainability Governance

         E.1          Penanggungjawab Penerapan Keuangan berkelanjutan                                                                 192
                      Management of Sustainable Finance Implementation

         E.2          Pengembangan Kompetensi Terkait Keuangan berkelanjutan                                                           170
                      Competency Development on Sustainable Finance

         E.3          Penilaian Risiko Atas Penerapan Keuangan berkelanjutan                                                           171
                      Risk Assessment for Sustainable Finance Implementation

         E.4          Hubungan Dengan Pemangku Kepentingan                                                                            379
                      Stakeholder Engagement

        E.5           Permasalahan Terhadap Penerapan Keuangan berkelanjutan                                                          385
                      Challenges of Sustainable Financial Implementation

 Kinerja Keberlanjutan | Sustainability Performance

         F.1          Kegiatan Membangun Budaya Keberlanjutan                                                                          51
                      Building a Culture of Sustainability

 Kinerja Ekonomi | Economic Performance

         F.2          Perbandingan Target dan Kinerja Produksi, Portofolio, Target Pembiayaan, atau Investasi, Pendapatan dan          139
                      Laba Rugi
                      Comparison of Performance Targets and Production, Portfolios,
                      Financial Targets, or Investment, Revenue and Profit and Loss




PT Garuda Maintenance Facility Aero Asia Tbk                                                          Laporan Terintegrasi 2023 Integrated Report
Page 420
420                                                                                                                                Laporan Keberlanjutan
                                                                                                                                      Sustainability Report




           Indikator                                                         Penjelasan                                                      Halaman
           Indicator                                                         Description                                                      Page

               F.3           Perbandingan Target dan Kinerja Portofolio, Target Pembiayaan, atau Investasi Pada Instrumen Keuangan              369
                             atau Proyek yang Sejalan
                             Comparison of Performance Targets and Production, Portfolios, Financial Targets, or Investment on Financial
                             Instruments or Projects in Line with
                             Sustainable Finance Implementation

        Kinerja Lingkungan | Environmental Performance

        Umum | General

               F.4           Biaya Lingkungan Hidup                                                                                             399
                             Environmental Costs

        Aspek Material | Material Aspects

               F.5           Penggunaan Material Yang Ramah Lingkungan                                                                          393
                             The Use of Environmentally Friendly Materials

        Aspek Energi | Energy Aspects

               F.6           Jumlah dan Intensitas Energi yang Digunakan                                                                        393
                             The Number and the Intensity of Energy Use

               F.7           Upaya dan Pencapaian Efisiensi Energi dan Penggunaan Energi Terbarukan                                             393
                             The Efforts and Achievements of Energy Efficiency Including the Use of Renewable Energy Sources

        Aspek Air | Water Aspects

               F.8           Penggunaan Air                                                                                                     395
                             Water Consumption

        Aspek Keanekaragaman Hayati | Biodiversity Aspects

               F.9           Dampak Dari Wilayah Operasional yang Dekat atau Berada di Daerah Konservasi atau Memiliki Keanekaragaman           398
                             Hayati
                             The Impact of Operational Areas Near or in the Area of Conservation or Biodiversity

              F.10           Usaha Konservasi Keanekaragaman Hayati                                                                             398
                             Biodiversity Conservation Efforts

        Aspek Emisi | Emission Aspects

               F.11          Jumlah dan Intensitas Emisi yang Dihasilkan Berdasarkan Jenisnya                                                   394
                             The Number and Intensity of Emissions Produced by Type

               F.12          Upaya dan Pencapaian Pengurangan Emisi yang Dilakukan                                                              394
                             The Efforts and Achievement of Emission Reductions Undertaken

               F.13          Jumlah Limbah dan Efluen yang Dihasilkan Berdasarkan Jenis                                                         396
                             The Amount of Waste and Effluent Generated by Type

               F.14          Mekanisme Pengelolaan Limbah dan Efluen                                                                            395
                             Waste and Effluent Management Mechanism

               F.15          Tumpahan yang Terjadi (jika ada)                                                                                   400
                             Spill that Occurred (if any)

               F.16          Jumlah dan Materi Pengaduan Lingkungan Hidup yang Diterima Dan Diselesaikan                                        400
                             The Number and Material Environmental Complaints Received and Resolved

        Kinerja Sosial | Social Performance

               F.17          Komitmen LJK, Emiten, atau Perusahaan Publik untuk Memberikan Layanan atas Produk dan/ atau Jasa yang               413
                             Setara kepada Konsumen
                             The Company’s Commitment to Deliver Products and/or Services Equivalent to the Consumer

        Aspek Ketenagakerjaan | Employment Aspects

               F.18          Kesetaraan Kesempatan Bekerja                                                                                       401
                             Equality of Employment Opportunities

               F.19          Tenaga Kerja Anak dan Tenaga Kerja Paksa                                                                            166
                             Child Labor and Forced Labor

              F.20           Upah Minimum Regional                                                                                              402
                             The Minimum Wage




      Laporan Terintegrasi 2023 Integrated Report                                                              PT Garuda Maintenance Facility Aero Asia Tbk
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                                                                                                                                                         421



     Indikator                                                        Penjelasan                                                       Halaman
     Indicator                                                        Description                                                       Page

        F.21          Lingkungan Bekerja yang Layak dan Aman                                                                              401
                      Environmental Work Decent and Safe

        F.22          Pelatihan dan Pengembangan Kemampuan Pegawai                                                                        170
                      Training and Competency Development for Employees

 Aspek Masyarakat | Community Aspects

        F.23          Dampak Operasi Terhadap Masyarakat Sekitar                                                                          370
                      Operational Impacts to Local Communities

        F.24          Pengaduan Masyarakat                                                                                                371
                      Public Complaints

        F.25          Kegiatan Tanggung Jawab Sosial Lingkungan (TJSL)                                                                    370
                      Social and Environmental Responsibility Activities

 Tanggung Jawab Pengembangan Produk/Jasa Berkelanjutan | Responsibility on the development of Sustainable Finance products and/or
 services

        F.26          Inovasi dan Pengembangan Produk/Jasa Keuangan berkelanjutan                                                         414
                      Innovation and development of Sustainable Finance products and/or services

        F.27          Produk/Jasa yang Sudah Dievaluasi Keamanannya Bagi Pelanggan                                                        415
                      Customer Safety

        F.28          Dampak Produk/Jasa                                                                                                  416
                      Impact of Products/Services

        F.29          Jumlah Produk yang Ditarik Kembali                                                                                  414
                      The Number of Products Recalled

        F.30          Survei Kepuasan Pelanggan Terhadap Produk dan/atau Jasa Keuangan Berkelanjutan                                      414
                      Survey of Customer Satisfaction

 Lain-lain | Others

        G.1           Verifikasi Tertulis dari Pihak Independen (jika Ada)                                                                378
                      Written Verification from an Independent Party, if Any

        G.2           Lembar Umpan Balik                                                                                                   …
                      Feedback Form

        G.3           Tanggapan Terhadap Umpan Balik Laporan Keberlanjutan Tahun Sebelumnya                                               378
                      Response to Feedback from the Prior Year

        G.4           Daftar Pengungkapan Sesuai POJK 51/2017 tentang Penerapan Keuangan Berkelanjutan bagi Lembaga Jasa                   …
                      Keuangan, Emiten dan Perusahaan Publik
                      List of Disclosures in accordance with POJK 51/2017 regarding the Implementation of Sustainable Finance for
                      Financial Service Institutions, Issuers and Public Companies




PT Garuda Maintenance Facility Aero Asia Tbk                                                              Laporan Terintegrasi 2023 Integrated Report
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422                                                                                    Lampiran
                                                                                     Attachment




      Laporan Terintegrasi 2023 Integrated Report    PT Garuda Maintenance Facility Aero Asia Tbk
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                                                                                                   423




                                                09




                                                 LAMPIRAN
                                                                  Attachment




PT Garuda Maintenance Facility Aero Asia Tbk        Laporan Terintegrasi 2023 Integrated Report
Page 424
PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASIAN/
CONSOLIDATED FINANCIAL STATEMENTS

31 DESEMBER 2023 DAN 2022/
31 DECEMBER 2023 AND 2022
Page 425

          
Page 426

          
Page 427

          
Page 428

          
Page 429

          
Page 430

          
Page 431

          
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Page 433

          
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Page 435

          
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                                   PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                        DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                      Lampiran - 1/1 - Schedule

LAPORAN POSISI KEUANGAN                                                                CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                         FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                           AS AT 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollars, unless otherwise stated)


                                                                Catatan/
                                               2023              Notes         2022

ASET                                                                                                                           ASSETS

ASET LANCAR                                                                                                 CURRENT ASSETS
Kas dan setara kas                            21,051,033           4            5,103,013              Cash and cash equivalents
Kas dan setara kas yang                                                                                 Restricted cash and cash
  dibatasi penggunaannya                          358,975         28              351,784                           equivalents
Investasi jangka pendek                            58,840                               -                  Short-term investment
Piutang usaha                                                     5,28                                          Trade receivables
- Pihak berelasi                              46,302,407                      24,549,797                        Related parties -
- Pihak ketiga                                10,694,831                      13,550,285                           Third parties -
Piutang lain-lain                                      -                         189,549                        Other receivables
Aset kontrak                                                      6,28                                            Contract assets
- Pihak berelasi                              39,738,525                      49,252,149                        Related parties -
- Pihak ketiga                                10,966,104                      11,055,490                           Third parties -
Persediaan                                    74,018,579           7          56,518,433                               Inventories
Uang muka dan beban
  dibayar dimuka,                                                                                         Advances and prepaid
  bagian lancar                               40,704,250           8          34,598,310              expenses, current portion
Pajak lain-lain dibayar dimuka                 2,722,004          14a          5,796,487                     Prepaid other taxes

Jumlah aset lancar                          246,615,548                      200,965,297                       Total current assets

ASET TIDAK LANCAR                                                                                     NON-CURRENT ASSETS
Piutang usaha pihak berelasi,                                                                          Trade receivables related
   bagian tidak lancar                        15,049,694           5            2,317,043          parties, non-current portion
Piutang lain-lain                              3,163,691                                -                      Other receivables
Uang muka dan beban dibayar                                                                               Advances and prepaid
   dimuka, bagian tidak lancar                  413,668            8             692,400         expenses, non-current portion
Aset tetap                                  131,755,518            9         135,236,551                             Fixed assets
Aset hak guna                                34,732,996            16         39,299,445                      Right-of-use assets
Pajak dibayar di muka                                             14a                                              Prepaid taxes
- Pajak penghasilan badan                      5,043,171                        5,237,716              Corporate income taxes -
- Pajak lain-lain                              5,815,021                                -                           Other taxes -
Aset pajak tangguhan                           7,417,592          14d           6,887,569                    Deferred tax assets
Aset tidak lancar lain-lain                       14,204                           22,689               Other non-current assets

Jumlah aset tidak lancar                    203,405,555                      189,693,413                Total non-current assets

JUMLAH ASET                                 450,021,103                      390,658,710                            TOTAL ASSETS




            Catatan atas laporan keuangan konsolidasian                         The accompanying notes to the consolidated
       terlampir merupakan bagian yang tidak terpisahkan dari                financial statements form an integral part of these
                  laporan keuangan konsolidasian.                                     consolidated financial statements.
Page 438
                                  PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                       DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                     Lampiran - 1/2 - Schedule

LAPORAN POSISI KEUANGAN                                                               CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                        FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                          AS AT 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                      (Expressed in US Dollars, unless otherwise stated)


                                                               Catatan/
                                              2023              Notes         2022

LIABILITAS DAN EKUITAS                                                                                LIABILITIES AND EQUITY

LIABILITAS JANGKA PENDEK                                                                                CURRENT LIABILITIES
Pinjaman bank jangka pendek                      194,603         12          16,490,706              Short-term bank borrowings
Utang usaha                                                     10,28                                            Trade payables
- Pihak berelasi                             10,391,617                      10,349,689                         Related parties -
- Pihak ketiga                               67,128,735                      88,742,068                           Third parties -
Akrual                                       55,408,500          11          64,014,727                                   Accruals
Utang lain-lain                               6,143,838                       6,371,130                          Other payables
Liabilitas kontrak                                                                                             Contract liabilities
- Pihak berelasi                             89,556,217          28          30,912,936                         Related parties -
- Pihak ketiga                               21,438,368                       8,393,792                           Third parties -
Pinjaman                                                                                                              Borrowings
- Pinjaman bank                               9,913,139          13           7,843,550                       Bank borrowings -
- Liabilitas sewa pembiayaan                  9,778,332          16          11,125,566                Finance lease liabilities -
Liabilitas imbalan kerja                                                                                    Short-term employee
  jangka pendek                               3,274,853           15           2,704,588                       benefit liabilities
Utang pajak lain-lain                         6,489,143          14b           1,882,230                     Other taxes payable

Jumlah liabilitas
  jangka pendek                            279,717,345                      248,830,982                   Total current liabilities

LIABILITAS JANGKA PANJANG                                                                         NON-CURRENT LIABILITIES
Utang usaha                                                     10,28                                          Trade payables
- Pihak berelasi                              9,755,745                               -                      Related parties -
- Pihak ketiga                               14,340,693                      19,409,349                         Third parties -
Pinjaman                                                                                                           Borrowings
- Pinjaman bank                            390,562,375           13         391,120,982                    Bank borrowings -
- Liabilitas sewa pembiayaan                42,353,284           16          40,256,079              Finance lease liabilities -
Liabilitas imbalan kerja                                                                                 Long-term employee
  jangka panjang                             24,453,563          15          22,062,638                     benefit liabilities

Jumlah liabilitas jangka
  panjang                                  481,465,660                      472,849,048             Total non-current liabilities

JUMLAH LIABILITAS                          761,183,005                      721,680,030                       TOTAL LIABILITIES




           Catatan atas laporan keuangan konsolidasian                         The accompanying notes to the consolidated
      terlampir merupakan bagian yang tidak terpisahkan dari                financial statements form an integral part of these
                 laporan keuangan konsolidasian.                                     consolidated financial statements.
Page 439
                                  PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                       DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                     Lampiran - 1/3 - Schedule

LAPORAN POSISI KEUANGAN                                                               CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                                                        FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022                                                          AS AT 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                      (Expressed in US Dollars, unless otherwise stated)


                                                               Catatan/
                                              2023             Notes          2022

EKUITAS                                                                                                                           EQUITY

Ekuitas yang
  diatribusikan kepada                                                                                        Equity attributable to
  pemilik entitas induk                                                                                     owners of the parent
Modal saham - modal dasar
  100.000.000.000 saham;                                                                                Share capital - authorised
  ditempatkan dan disetor                                                                             100,000,000,000 shares;
  penuh 28.233.511.500                                                                                    issued and fully paid
  saham dengan nilai nominal                                                                         28,233,511,500 shares at
  Rp100 per saham                          219,015,655           17         219,015,655             par value Rp100 per share
Tambahan modal disetor                      62,417,236           18          62,417,236                  Additional paid-in capital
Rugi komprehensif lain                     (16,353,693)          19         (16,118,527)               Other comprehensive loss
Saldo laba/                                                                                                    Retained earnings/
  (akumulasi kerugian)                                                                                   (accumulated losses)
  - Dicadangkan                              7,492,540           20           7,492,540                         Appropriated -
  - Belum dicadangkan                     (583,893,153)                    (604,169,616)                     Unappropriated -

Ekuitas yang dapat
  diatribusikan kepada                                                                                        Equity attributable to
  pemilik entitas induk                   (311,321,415)                    (331,362,712)                    owners of the parent

Kepentingan nonpengendali                        159,513                         341,392                  Non-controlling interests

JUMLAH EKUITAS                            (311,161,902)                    (331,021,320)                             TOTAL EQUITY

JUMLAH LIABILITAS DAN                                                                                   TOTAL LIABILITIES AND
  EKUITAS                                  450,021,103                      390,658,710                             EQUITY




           Catatan atas laporan keuangan konsolidasian                         The accompanying notes to the consolidated
      terlampir merupakan bagian yang tidak terpisahkan dari                financial statements form an integral part of these
                 laporan keuangan konsolidasian.                                     consolidated financial statements.
Page 440
                                   PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                        DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                      Lampiran - 2/1 - Schedule

LAPORAN LABA RUGI DAN PENGHASILAN                                          CONSOLIDATED STATEMENTS OF PROFIT OR
KOMPREHENSIF LAIN KONSOLIDASIAN                                             LOSS AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR                                                                         FOR THE YEARS ENDED
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollars, unless otherwise stated)


                                                                Catatan/
                                               2023              Notes         2022

Pendapatan                                  373,206,984           21         238,703,893                                           Revenue

Beban usaha:                                                                                                 Operating expenses:
Beban pegawai                              (101,486,732)           22         (95,233,650)                    Employee expenses
Beban material                              (97,791,734)           23         (58,065,592)                      Material expenses
Beban subkontrak                           (105,611,422)           24         (46,579,381)                  Subcontract expenses
Beban penyusutan                            (20,372,753)         9,16b        (23,270,926)                  Depreciation expenses
Beban operasional lainnya                   (22,284,253)           25         (20,951,343)               Other operating expenses
Penghasilan operasional lainnya               2,041,310            26          30,264,218                  Other operating income

                                              27,701,400                      24,867,219

Penghasilan dari                                                                                                  Income from debt
  restrukturisasi utang                        6,876,476          10                        -                        restructuring
Keuntungan dari                                                                                               Gain on payment term
  restrukturisasi pembayaran                   6,711,538         10,13          5,084,206                            restructuring
Penghasilan keuangan                             238,867                          141,760                           Finance income
Beban keuangan                               (23,619,058)                     (22,087,788)                            Finance costs
Penghasilan/
  (beban) lain-lain, bersih                    1,820,801                       (2,502,092)          Other income/(expenses), net

Laba sebelum
  pajak penghasilan                           19,730,024                        5,503,305                Profit before income tax

Manfaat/(beban)                                                                                                    Income tax benefit/
 pajak penghasilan                                438,665         14c          (1,874,974)                              (expense)

Laba tahun berjalan                           20,168,689                        3,628,331                          Profit for the year

(Rugi)/penghasilan                                                                                        Other comprehensive
  komprehensif lain                                                                                               (loss)/income
Pos-pos yang tidak akan                                                                                       Items that will not be
  direklasifikasi ke laba rugi:                                                                     reclassified to profit or loss:
Keuntungan/(kerugian)                                                                                 Gain/(loss) on revaluation of
  revaluasi aset tetap                            614,713                          (61,491)                          fixed assets
Pengukuran kembali                                                                                       Remeasurement of post-
  imbalan pascakerja                          (1,001,046)         15            4,946,373                   employment benefit
Pajak penghasilan terkait                         84,993                       (1,074,674)                      Related income tax

                                                 (301,340)                      3,810,208




            Catatan atas laporan keuangan konsolidasian                         The accompanying notes to the consolidated
       terlampir merupakan bagian yang tidak terpisahkan dari                financial statements form an integral part of these
                  laporan keuangan konsolidasian.                                    consolidated financial statements.
Page 441
                                   PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                        DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                      Lampiran - 2/2 - Schedule

LAPORAN LABA RUGI DAN PENGHASILAN                                          CONSOLIDATED STATEMENTS OF PROFIT OR
KOMPREHENSIF LAIN KONSOLIDASIAN                                             LOSS AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR                                                                         FOR THE YEARS ENDED
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollars, unless otherwise stated)


                                                                Catatan/
                                               2023              Notes         2022

Pos yang akan                                                                                                     Items that will be
  direklasifikasi ke laba rugi:                                                                     reclassified to profit or loss:
                                                                                                             Exchange differences
Selisih kurs karena penjabaran                                                                        due to financial statement
  laporan keuangan                                 66,174                          (91,586)                           translation

(Rugi)/penghasilan                                                                                              Other comprehensive
  komprehensif lain tahun                                                                                     (loss)/income for the
  berjalan, setelah pajak                        (235,166)                      3,718,622                           year, net of tax

Jumlah penghasilan                                                                                            Total comprehensive
  komprehensif tahun berjalan                 19,933,523                        7,346,953                    income for the year

Laba yang
  diatribusikan kepada:                                                                                       Profit attributable to:
Pemilik entitas induk                         20,276,463                        3,571,764                      Owners of the parent
Kepentingan nonpengendali                       (107,774)                          56,567                   Non-controlling interests

                                              20,168,689                        3,628,331

Jumlah penghasilan
  komprehensif yang                                                                                         Total comprehensive
  diatribusikan kepada:                                                                                 income attributable to:
Pemilik entitas induk                         20,041,297                        7,290,386                    Owners of the parent
Kepentingan nonpengendali                       (107,774)                          56,567                 Non-controlling interests

                                              19,933,523                        7,346,953

Laba bersih per saham:                                                                                          Earnings per share:
  Dasar dan dilusian                               0.0007         27                0.0001                       Basic and diluted




            Catatan atas laporan keuangan konsolidasian                         The accompanying notes to the consolidated
       terlampir merupakan bagian yang tidak terpisahkan dari                financial statements form an integral part of these
                  laporan keuangan konsolidasian.                                    consolidated financial statements.
Page 442
                                                                                                 PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                                                                                      DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                                                                                             Lampiran 3 Schedule

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                                                                         CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
UNTUK TAHUN YANG BERAKHIR                                                                                                                                                                                                     FOR THE YEARS ENDED
31 DESEMBER 2023 DAN 2022                                                                                                                                                                                               31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                                                                                                                                                   (Expressed in US Dollars, unless otherwise stated)


                                                                                                                                                                                                        Ekuitas
                                                                                                                Rugi komprehensif lain/                                                               yang dapat
                                                                                                              Other comprehensive loss                                  Saldo laba                   diatribusikan
                                                                                                              Surplus        Translasi                             (akumulasi kerugian)/            kepada pemilik
                                                                                                              (defisit)     mata uang                                Retained earnings               entitas induk/
                                                                         Tambahan                            revaluasi/        asing/                             (accumulated losses)                   Equity        Kepentingan
                                                                        modal disetor/    Imbalan kerja/    Revaluation       Foreign                                               Belum             attributable    non pengendali/
                                             Catatan/   Modal saham/      Additional        Employee          surplus        currency         Jumlah/        Dicadangkan/       dicadangkan/          to owners of    Non-controlling       Jumlah ekuitas/
                                              Notes     Share capital   paid-in capital      benefits         (deficit)     translation        Total         Appropriated      Unappropriated          the parent         interest           Total equity

Saldo per 1 Januari 2022                                  219,015,655       62,417,236       (25,031,111)      5,194,163            (201)     (19,837,149)       7,492,540        (607,741,380)       (338,653,098)            293,887        (338,359,211)           Balance as at 1 January 2022

Laba tahun berjalan                                                 -                 -                -                -                 -             -                 -          3,571,764           3,571,764              56,567           3,628,331                           Profit for the year
Pendapatan/(rugi) komprehensif lain:                                                                                                                                                                                                                            Other comprehensive income/(loss):
  Kerugian revaluasi aset tetap,                                                                                                                                                                                                                                             Loss on revaluation of
   setelah pajak                                9                   -                 -                -          (47,963)                -       (47,963)                -                     -          (47,963)                     -          (47,963)              fixed assets, net of tax
  Pengukuran kembali imbalan                                                                                                                                                                                                                                  Remeasurement of post-employment
   pascakerja, setelah pajak                   15                   -                 -        3,858,171                -                 -    3,858,171                  -                     -        3,858,171                      -        3,858,171                    benefits, net of tax
  Selisih kurs karena penjabaran laporan                                                                                                                                                                                                                              Exchange differences due to
   keuangan                                                         -                 -                -                -         (91,586)        (91,586)                -                     -          (91,586)             (9,062)           (100,648)      financial statement translation

Saldo per 31 Desember 2022                                219,015,655       62,417,236       (21,172,940)      5,146,200          (91,787)    (16,118,527)       7,492,540        (604,169,616)       (331,362,712)            341,392        (331,021,320)        Balance as at 31 December 2022

Laba/(rugi) tahun berjalan                                          -                 -                -                -                 -             -                 -         20,276,463          20,276,463            (107,774)         20,168,689                    Profit/(loss) for the year
Penghasilan/(rugi) komprehensif lain:                                                                                                                                                                                                                           Other comprehensive income/(loss):
  Keuntungan revaluasi aset tetap,                                                                                                                                                                                                                                           Gain on revaluation of
   setelah pajak                                9                   -                 -                -         479,476                  -      479,476                  -                     -          479,476                      -          479,476               fixed assets, net of tax
  Pengukuran kembali imbalan                                                                                                                                                                                                                                  Remeasurement of post-employment
   pascakerja, setelah pajak                   15                   -                 -         (780,816)               -                 -     (780,816)                 -                     -         (780,816)                     -         (780,816)                   benefits, net of tax
  Selisih kurs karena penjabaran laporan                                                                                                                                                                                                                              Exchange differences due to
   keuangan                                                         -                 -                -                -         66,174          66,174                  -                     -           66,174             (74,105)             (7,931)      financial statement translation

Saldo per 31 Desember 2023                                219,015,655       62,417,236       (21,953,756)      5,625,676          (25,613)    (16,353,693)       7,492,540        (583,893,153)       (311,321,415)            159,513        (311,161,902)        Balance as at 31 December 2023




                                           Catatan atas laporan keuangan konsolidasian                                                                                                        The accompanying notes to the consolidated
                                      terlampir merupakan bagian yang tidak terpisahkan dari                                                                                               financial statements form an integral part of these
                                                 laporan keuangan konsolidasian.                                                                                                                   consolidated financial statements.
Page 443
                                  PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                       DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                     Lampiran - 4/1 - Schedule

LAPORAN ARUS KAS KONSOLIDASIAN                                         CONSOLIDATED STATEMENTS OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR                                                                       FOR THE YEARS ENDED
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                     (Expressed in US Dollars, unless otherwise stated)


                                                        2023              2022

ARUS KAS DARI                                                                                             CASH FLOWS FROM
  AKTIVITAS OPERASI                                                                                 OPERATING ACTIVITIES
Penerimaan kas dari pelanggan                          420,776,424       290,616,012               Cash receipts from customers
Pembayaran kas kepada                                                                                     Cash paid to suppliers
  pemasok dan lainnya                                 (284,067,644)      (176,545,316)                              and others
Pembayaran kepada karyawan                             (92,669,186)       (96,020,602)                  Cash paid to employees

Kas yang diperoleh                                                                                                Cash generated
  dari operasi                                          44,039,594         18,050,094                          from operations
Pembayaran beban keuangan                              (15,141,970)       (15,768,110)                       Finance costs paid
Pengembalian pajak                                       1,977,067          6,366,218                                 Tax refund
Pembayaran pajak penghasilan badan                        (193,489)        (1,045,057)              Corporate income taxes paid

Arus kas bersih yang diperoleh                                                                           Net cash flows generated
  dari aktivitas operasi                                30,681,202          7,603,145                   from operating activities

ARUS KAS DARI AKTIVITAS                                                                                   CASH FLOWS FROM
  INVESTASI                                                                                           INVESTING ACTIVITIES
Penempatan kas
  dan setara kas yang                                                                                    Placement of restricted
  dibatasi penggunaannya                                     (7,191)         (327,267)              cash and cash equivalents
Penerimaan pendapatan keuangan                              269,641           129,023                  Finance income received
Pembelian aset tetap                                       (901,486)       (2,902,737)                 Purchases of fixed assets

Arus kas bersih yang digunakan                                                                               Net cash flows used in
  untuk aktivitas investasi                                (639,036)       (3,100,981)                        investing activities

ARUS KAS DARI AKTIVITAS                                                                                    CASH FLOWS FROM
  PENDANAAN                                                                                           FINANCING ACTIVITIES
Penerimaan dari pinjaman bank                                                                           Proceeds from short-term
  jangka pendek                                                   -           190,706                         bank borrowings
Pembayaran pinjaman bank                                                                                Repayments of short-term
  jangka pendek                                                   -        (2,400,000)                        bank borrowings
Pembayaran pinjaman bank                                                                                Repayments of long-term
  jangka panjang                                         (8,332,558)       (4,399,426)                        bank borrowings
Pembayaran pokok                                                                                         Repayments of principal
  liabilitas sewa                                        (5,885,565)       (5,607,191)                       of lease liabilities

Arus kas bersih yang digunakan                                                                               Net cash flows used in
  untuk aktivitas pendanaan                            (14,218,123)       (12,215,911)                        financing activities




           Catatan atas laporan keuangan konsolidasian                         The accompanying notes to the consolidated
      terlampir merupakan bagian yang tidak terpisahkan dari                financial statements form an integral part of these
                 laporan keuangan konsolidasian.                                    consolidated financial statements.
Page 444
                                  PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                       DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                     Lampiran - 4/2 - Schedule

LAPORAN ARUS KAS KONSOLIDASIAN                                           CONSOLIDATED STATEMENTS OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR                                                                         FOR THE YEARS ENDED
31 DESEMBER 2023 DAN 2022                                                                   31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollars, unless otherwise stated)


                                                        2023                 2022

                                                                                                          INCREASE/(DECREASE)
KENAIKAN/(PENURUNAN) BERSIH                                                                                 IN CASH AND CASH
 KAS DAN SETARA KAS                                     15,824,043            (7,713,747)                        EQUIVALENTS

                                                                                                                CASH AND CASH
KAS DAN SETARA KAS PADA                                                                                      EQUIVALENTS AT
 AWAL TAHUN                                               5,103,013          13,767,313                    BEGINNING OF YEAR

Pengaruh perubahan kurs                                                                                    Effect of foreign currency
  mata uang asing                                              123,977         (950,553)                   exchange rate changes

                                                                                                                  CASH AND CASH
KAS DAN SETARA KAS                                                                                              EQUIVALENTS AT
 AKHIR TAHUN                                            21,051,033            5,103,013                            END OF YEAR




           Catatan atas laporan keuangan konsolidasian                           The accompanying notes to the consolidated
      terlampir merupakan bagian yang tidak terpisahkan dari                  financial statements form an integral part of these
                 laporan keuangan konsolidasian.                                      consolidated financial statements.
Page 445
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/1 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


1.   INFORMASI UMUM                                       1.   GENERAL INFORMATION

     a.   Pendirian dan informasi umum                         a.   Establishment and general information

          PT Garuda Maintenance Facility Aero Asia Tbk              PT Garuda Maintenance Facility Aero Asia Tbk
          (“Perusahaan”) didirikan berdasarkan akta No.             (“the Company”) was established based on
          93 tanggal 26 April 2002 dari Arry Supratno,              Deed No. 93 dated 26 April 2002 of Arry
          SH, Notaris di Jakarta. Akta pendirian ini                Supratno, SH, Notary in Jakarta. The Deed of
          disahkan oleh Menteri Kehakiman dan Hak                   Establishment was approved by the Minister of
          Asasi Manusia Republik Indonesia dalam Surat              Justice and Human Rights of the Republic of
          Keputusannya No. C-11688 HT.01.01.TH.2002                 Indonesia in its Decision Letter No. C-11688
          tanggal 25 September 2002, serta diumumkan                HT.01.01.TH.2002 dated 25 September 2002
          dalam Berita Negara Republik Indonesia No. 78             and was published in the State Gazette of the
          tanggal 27 September 2002, Tambahan                       Republic of Indonesia No. 78 dated 27
          No. 11677. Anggaran Dasar Perusahaan telah                September 2002, Supplement No. 11677. The
          mengalami beberapa kali perubahan, terakhir               Company's Articles of Association have been
          berdasarkan Akta Pernyataan Keputusan Rapat               amended several times, most recently based on
          Perubahan Anggaran Dasar Nomor 2 tanggal 2                the Deed of Statement of Meeting Resolutions
          September 2022 dibuat dihadapan Shanti lndah              on Amendment to the Articles of Association
          Lestari, S.H., M.Kn., Notaris di Kabupaten                Number 2 dated 2 September 2022 drawn up
          Tangerang, yang mendapatkan persetujuan                   before Shanti lndah Lestari, S.H., M.Kn., Notary
          dari Menteri Hukum dan Hak Asasi Manusia                  in Tangerang Regency, which has received
          Republik Indonesia sesuai dengan Surat                    approval from the Minister of Law and Human
          Keputusan Nomor AHU-0067839.AH.01.02                      Rights of the Republic of Indonesia in
          tahun 2022 tanggal 20 September 2022 terkait              accordance with Decision Letter Number AHU-
          Klasifikasi Baku Lapangan Usaha Indonesia                 0067839.AH.01.02 of 2022 dated 20 September
          (“KBLI 2020”) untuk diselaraskan dengan                   2022 related to Indonesian Standard Industrial
          Peraturan Badan Pusat Statistik Nomor 2 tahun             Classification (“KBLI 2020”) in order to conform
          2020.                                                     with Central Bureau of Statistics Number 2 of
                                                                    2020.

          Pada tanggal 30 Maret 2012, Perusahaan                    On 30 March 2012, the Company obtained an
          memperoleh persetujuan Menteri Keuangan                   approval from the Minister of Finance of the
          Republik      Indonesia     dalam       Surat             Republic of Indonesia in its Decision Letter
          Keputusan       No.    KEP-355/WPJ.19/2012,               No. KEP-355/WPJ.19/2012, to maintain its
          mengenai penyelenggaraan pembukuan dalam                  accounting records in English language and in
          Bahasa Inggris dan mata uang Dolar Amerika                United States Dollars (“US$” or “US Dollars”)
          Serikat (“AS$” atau “Dolar AS”) mulai tanggal             starting 1 January 2012.
          1 Januari 2012.

          Sesuai dengan Pasal 3 Anggaran Dasar                      In accordance with Article 3 of the Company's
          Perusahaan,      ruang   lingkup    kegiatan              Articles of Association, the scope of the
          Perusahaan adalah dalam bidang jasa                       Company’s activities is in the field of aircraft
          perawatan     pesawat terbang,    perawatan               maintenance          services,        components
          komponen dan kalibrasi, perawatan mesin                   maintenance and calibration, aircraft and
          untuk pesawat dan industri, pembuatan dan                 industrial engine maintenance, manufacturing
          perawatan      sarana    pendukung,     jasa              and maintenance of supporting facilities,
          engineering, jasa layanan material, logistik,             engineering     services,    material    services,
          pergudangan dan konsinyasi serta jasa                     logistics, warehousing and consignment, and
          konsultan, pelatihan dan penyediaan tenaga                consulting, training and provision of experts in
          ahli di bidang perawatan pesawat, komponen                the field of aircraft, component and engine
          dan mesin.                                                maintenance.
Page 446
                                 PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                      DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/2 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                              1.   GENERAL INFORMATION (continued)

     a.   Pendirian dan informasi umum (lanjutan)                a.    Establishment        and     general    information
                                                                       (continued)

          Kantor pusat Perusahaan berkedudukan di                      The Company's head office is located at Hangar
          Hanggar 4 Garuda Maintenance Facility Aero                   4 Garuda Maintenance Facility Aero Asia,
          Asia, Bandara Soekarno Hatta, Cengkareng,                    Bandara      Soekarno     Hatta,   Cengkareng,
          Tangerang. Berdasarkan Surat Keputusan                       Tangerang. Based on the Decision Letter of the
          Menteri    Keuangan     Republik      Indonesia              Minister of Finance of the Republic of Indonesia
          No. 387/KMK.04/2002 tanggal 30 Agustus                       No. 387/KMK.04/2002 dated 30 August 2002,
          2002, lokasi Perusahaan ditetapkan sebagai                   the Company’s location was approved as a
          kawasan berikat dan berdasarkan Keputusan                    bonded area and based on the Decision Letter
          Menteri Keuangan No. KEP-355/WPJ.19/2012                     of the Minister of Finance of the Republic of
          tanggal 30 Maret 2012 lokasi perusahaan                      Indonesia No. KEP-355/WPJ.19/2012 dated 30
          ditetapkan sebagai Pusat Logistik Berikat.                   March 2012, the Company’s location was
                                                                       approved as a Bonded Logistic Center.
          Perusahaan mulai beroperasi secara komersial                 The Company commenced its commercial
          pada tahun 2002. Pada tanggal 31 Desember                    operations in 2002. As at 31 December 2023,
          2023, Perusahaan dan entitas anaknya,                        the Company and its subsidiaries have 4,348
          memiliki 4.348 orang karyawan (2022: 4.520                   employees      (2022:    4,520   employees)
          orang karyawan) (tidak diaudit).                             (unaudited).
          Perusahaan dan entitas anak (bersama-sama                    The Company and its subsidiaries (collectively
          disebut sebagai “Grup”) dikendalikan oleh                    referred to as the “Group”) are controlled by its
          entitas induk langsungnya, PT Garuda                         immediate parent company, PT Garuda
          Indonesia (Persero) Tbk (“Garuda”), Badan                    Indonesia (Persero) Tbk (“Garuda”), a State-
          Usaha Milik Negara. Entitas induk utama                      owned Enterprise. The ultimate parent of the
          Perusahaan adalah Pemerintah Republik                        Company is the Government of the Republic of
          Indonesia.                                                   Indonesia.
          Pada tanggal 31 Desember 2023 dan 2022,                      As at 31 December 2023 and 2022, the
          susunan anggota Dewan Komisaris dan Direksi                  composition of the Company’s Boards of
          Perusahaan adalah sebagai berikut:                           Commissioners and Directors was as follows:
                                            2023                           2022

          Komisaris Utama                Dharmadi                    Rahmat Hanafi                    President Commissioner
          Komisaris                    Rahmat Hanafi             Maria Kristi Endah Murni                       Commissioner
          Komisaris Independen              Abhan                     Ali Gunawan                 Independent Commissioners
                                        Ali Gunawan                   Agit Atriantio
                                        Agit Altrianto            Gatot S. Dewa Broto

          Direktur Utama               Andi Fahrurrozi                Andi Fahrurrozi                      President Director
          Direktur                     Salusra Satria                 Salusra Satria                               Directors
                                        Irvan Pribadi                 Ananta Widjaja
                                          Mukhtaris                     Mukhtaris
                                       Pudjo Sarwoko                  Pudjo Sarwoko

          Pada tanggal 31 Desember 2023 dan 2022,                      As at 31 December 2023 and 2022, the
          susunan Komite Audit Perusahaan adalah                       composition of the Company’s Audit Committee
          sebagai berikut:                                             was as follows:
                                            2023                           2022

          Ketua                         Ali Gunawan                   Ali Gunawan                                  Chairman
          Anggota                       Dodi Yasendri            Tri Harsono Syahudoyo                             Members
                                     Edward Okky Avianto              Dodi Yasendri
Page 447
                                      PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                           DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                        Lampiran 5/3 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                               (Expressed in US Dollars, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                                           1.     GENERAL INFORMATION (continued)

     b.   Penawaran umum efek                                                   b.     Public offering of securities issued

          Pada tanggal 29 September 2017, Perusahaan                                   On 29 September 2017, the Company obtained
          memperoleh surat pernyataan efektif Otoritas                                 the Notice of Effectivity from the Financial
          Jasa Keuangan (“OJK”) melalui Surat Kepala                                   Service Authority (“Otoritas Jasa Keuangan” or
          Eksekutif     Pengawas       Pasar      Modal                                “OJK”) in its Letter No. S-424/D.04/2017
          No. S-424/D.04/2017 tentang Pemberitahuan                                    regarding Notice of Registration Statement
          Efektifnya Pernyataan Pendaftaran untuk                                      Effectivity for the offering of 2,823,351,100
          penawaran umum perdana 2.823.351.100                                         shares to the public. On 10 October 2017,
          saham Perusahaan kepada masyarakat.                                          these shares were listed on the Indonesia Stock
          Saham tersebut telah dicatatkan pada Bursa                                   Exchange.
          Efek Indonesia pada tanggal 10 Oktober 2017.

          Seluruh saham Perusahaan yang telah                                          All of the Company’s issued and fully paid
          ditempatkan dan disetor penuh sejumlah                                       shares amounting to 28,233,511,500 shares
          28.233.511.500 saham telah dicatatkan pada                                   have been listed on the Indonesia Stock
          Bursa Efek Indonesia (Catatan 17).                                           Exchange (Note 17).

     c.   Struktur Grup                                                         c.     Group structures

          Perusahaan memiliki kepemilikan secara                                       The Company has a direct ownership interest in
          langsung atas entitas anak, yang dikendalikan                                its subsidiaries, over which the Company has
          oleh Perusahaan sebagai berikut:                                             the following control:
                                                                                                                                   Total aset
                                                                                                               Tahun operasi   sebelum eliminasi/
                                                                                                Persentase       komersial/       Total assets
                                                                                               kepemilikan/       Start of     before elimination
                                            Domisili/         Kegiatan usaha utama/            Percentage of    commercial       31 Desember/
             Entitas anak/Subsidiaries      Domicile          Main business activities          ownership       operations      December 2023

          PT Garuda Daya Pratama                              Aktivitas ketenagakerjaan/
           Sejahtera (“GDPS”)                Jakarta            Employment activities              91%             2019                 5,841,197

          PT Garuda Energi Logistik                            Dalam proses pelepasan/
           Komersial (“GELK”)                Jakarta       In the process of deconsolidation       99%               -                          -


          Pendirian GDPS dan GELK di tahun 2019                                        Establishment of GDPS and GELK in 2019

          Perusahaan       dan    Koperasi  Karyawan                                   The Company and Koperasi Karyawan
          PT Garuda Maintenance Facility Aero Asia                                     PT Garuda Maintenance Facility Aero Asia
          Sejahtera mendirikan GDPS berdasarkan Akta                                   Sejahtera established GDPS based on Deed
          No. 42, tanggal 22 Januari 2019 dari Arry                                    No. 42 dated 22 January 2019 from Arry
          Supratno, S.H., dengan modal dasar sebesar                                   Supratno S.H., with authorised capital of
          Rp8.000.000.000 dan modal ditempatkan dan                                    Rp8,000,000,000 and issued and fully paid
          disetor penuh Rp2.000.000.000. Ruang lingkup                                 capital of Rp2,000,000,000. GDPS’ scope of
          usaha GDPS adalah menjalankan usaha dalam                                    activities is to conduct business in the field of
          bidang aktivitas ketenagakerjaan.                                            employment.

          Perusahaan dan PT Aero Wisata, pemegang                                      The Company and PT Aero Wisata, a
          saham       Perusahaan,      mendirikan   GELK                               shareholder, established GELK based on Deed
          berdasarkan Akta No. 09, tanggal 4 Februari                                  No. 09 dated 4 February 2019 from Arry
          2019 dari Arry Supratno, S.H., dengan modal                                  Supratno S.H., with authorised capital of
          dasar sebesar Rp62.626.000.000 dan modal                                     Rp62,626,000,000 and issued and fully paid
          ditempatkan          dan      disetor     penuh                              capital of Rp15,656,500,000. GELK’s initial
          Rp15.656.500.000. Ruang lingkup usaha                                        scope of activities is to conduct business in the
          GELK, pada awalnya, adalah menjalankan                                       field of trading and operational lease of spare
          usaha dalam bidang perdagangan dan sewa                                      parts and airline engines, general trading,
          guna usaha suku cadang dan mesin pesawat                                     supply of electricity, and the distribution of fuel
          udara, perdagangan umum, penyediaan energi                                   to support airline operational activities.
          listrik dan distribusi bahan bakar minyak dalam
          rangka menunjang kegiatan operasional
          penerbangan.
Page 448
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                Lampiran 5/4 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


1.   INFORMASI UMUM (lanjutan)                              1.   GENERAL INFORMATION (continued)

     c.   Struktur Grup (lanjutan)                               c.   Group structures (continued)

          Likuidasi dan pembubaran GELK                               Liquidation and dissolution of GELK

          Di bulan Juni 2020, Grup menghentikan                       In June 2020, the Group ceased GELK's
          kegiatan operasional GELK sebagai persiapan                 operational activities in preparation for its
          likuidasi dan pembubarannya.                                liquidation and dissolution.

          Berdasarkan Akta Notaris No. 27 tanggal 20                  Based on the Deed No. 27 dated 20 April 2022
          April 2022 oleh dibuat dihadapan Arry                       drawn up before Arry Supratno, S.H., Notary in
          Supratno, S.H., Notaris di Kabupaten                        Tangerang Regency, which has received
          Tangerang, yang mendapatkan persetujuan                     approval from the Minister of Law and Human
          dari Menteri Hukum dan Hak Asasi Manusia                    Rights of the Republic of Indonesia in
          Republik Indonsia sesuai dengan Surat                       accordance with Decision Letter Number AHU-
          Keputusan Nomor AHU-AH.01.10-0012780                        AH.01.10-0012780 of 2021 dated 4 March 2021
          tahun 2021 tanggal 4 Maret 2021 PT Garuda                   PT Garuda Energi Logistik Komersial was
          Energi Logistik Komersial berstatus dibubarkan.             dissolved.

          Pada tanggal 31 Desember 2023, GELK masih                   As at 31 December 2023, GELK is still in the
          dalam proses penyelesaian dokumen likuidasi,                process of completing liquidation documents,
          sehingga      laporan   keuangan     masih                  therefore the financial statement is still
          dikonsolidasikan ke Grup. Dampak terhadap                   consolidated to the Group. The impact is not
          laporan keuangan konsolidasian Grup tidak                   material to the Group's consolidated financial
          material.                                                   statements.


2.   INFORMASI          KEBIJAKAN              AKUNTANSI    2.   MATERIAL            ACCOUNTING              POLICY
     MATERIAL                                                    INFORMATION

     Laporan keuangan konsolidasian Grup diotorisasi             The consolidated financial statements of the Group
     oleh Direksi pada tanggal 28 Maret 2024.                    were authorised by the Directors on 28 March 2024.

     Berikut ini adalah informasi kebijakan akuntansi            The material accounting policy information applied in
     material yang diterapkan dalam penyusunan laporan           the preparation of these consolidated financial
     keuangan konsolidasian.                                     statements are set out below.

     a.   Dasar penyusunan           laporan    keuangan         a.   Basis of preparation of the consolidated
          konsolidasian                                               financial statements

          Laporan keuangan konsolidasian ini telah                    The consolidated financial statements have
          disusun sesuai dengan Standar Akuntansi                     been prepared in accordance with Indonesian
          Keuangan di Indonesia, yang mencakup                        Financial Accounting Standards, including
          Pernyataan Standar Akuntansi Keuangan                       Statements of Financial Accounting Standards
          (“PSAK”) dan Interpretasi Standar Akuntansi                 (“PSAK”) and Interpretations of Financial
          Keuangan (“ISAK”) dan Peraturan-Peraturan                   Accounting Standards (“ISAK”) and the
          serta Pedoman Penyajian dan Pengungkapan                    Regulations and Guidelines on Financial
          Laporan Keuangan yang diterbitkan oleh OJK.                 Statement Presentation and Disclosures issued
                                                                      by the OJK.

          Laporan keuangan konsolidasian ini disusun                  The consolidated financial statements have
          berdasarkan konsep harga perolehan, yang                    been prepared under the historical cost
          dimodifikasi oleh revaluasi bangunan dan                    convention, as modified by the revaluation of
          prasarana, serta menggunakan dasar akrual                   building and improvements, and using the
          kecuali untuk laporan arus kas konsolidasian.               accrual basis except for the consolidated
                                                                      statement of cash flows.
Page 449
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/5 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN           AKUNTANSI       2.   MATERIAL       ACCOUNTING                    POLICY
     MATERIAL (lanjutan)                                       INFORMATION (continued)

     a.   Dasar penyusunan laporan           keuangan          a.   Basis of preparation of the consolidated
          konsolidasian (lanjutan)                                  financial statements (continued)

          Laporan arus kas konsolidasian disusun                    The consolidated statement of cash flows has
          dengan menggunakan metode langsung                        been prepared based on the direct method by
          dengan mengelompokkan arus kas ke dalam                   classifying cash flows on the basis of operating,
          aktivitas operasi, investasi, dan pendanaan.              investing, and financing activities.

          Laporan keuangan konsolidasian disusun                    The consolidated financial statements have
          menggunakan asumsi kelangsungan usaha.                    been prepared using the going concern
          Asumsi       ini   digunakan     berdasarkan              assumption. This assumption is being used
          pengetahuan manajemen atas fakta-fakta dan                based on management’s knowledge of current
          keadaan sekarang, asumsi-asumsi yang timbul               facts and circumstances, assumption based on
          atas pengetahuan tersebut dan ekspektasi saat             that knowledge and current expectations of
          ini atas kejadian dan tindakan di masa yang               future events and actions, as disclosed in Note
          akan datang, seperti diungkapkan di Catatan               35.
          35.

          Seluruh angka dalam laporan keuangan                      Figures in the consolidated financial statements
          konsolidasian ini disajikan dalam Dolar AS,               are stated in US Dollars, unless otherwise
          kecuali dinyatakan lain.                                  specified.

          Kecuali dinyatakan dibawah ini, kebijakan                 Except as described below, the accounting
          akuntansi telah diterapkan secara konsisten               policies applied are consistent with those of the
          dengan laporan keuangan konsolidasian untuk               consolidated financial statements for the year
          tahun yang berakhir 31 Desember 2022 yang                 ended 31 December 2022, which conform to
          telah sesuai dengan Standar Akuntansi                     the Indonesian Financial Accounting Standards.
          Keuangan di Indonesia.

          Penyusunan laporan keuangan konsolidasian                 The preparation of consolidated financial
          yang sesuai dengan Standar Akuntansi                      statements in conformity with Indonesian
          Keuangan       di    Indonesia   memerlukan               Financial Accounting Standards requires the
          penggunaan estimasi akuntansi penting                     use of certain critical accounting estimates. It
          tertentu.    Hal    tersebut   mengharuskan               also requires management to exercise its
          manajemen untuk membuat pertimbangan                      judgement in the process of applying the
          dalam proses penerapan kebijakan akuntansi                Group’s accounting policies. The areas
          Grup. Area yang kompleks atau memerlukan                  involving a higher degree of judgement or
          tingkat pertimbangan yang lebih tinggi atau               complexity, or areas where assumptions and
          area dimana asumsi dan estimasi dapat                     estimates are significant to the consolidated
          berdampak signifikan dalam laporan keuangan               financial statements, are disclosed in Note 3.
          konsolidasian, diungkapkan dalam Catatan 3.
Page 450
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                Lampiran 5/6 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI         2.   MATERIAL       ACCOUNTING                     POLICY
     MATERIAL (lanjutan)                                            INFORMATION (continued)

     b.   Perubahan Pernyataan Standar Akuntansi                    b.   Changes to the Statement of Financial
          Keuangan dan Interpretasi Pernyataan                           Accounting Standards and Interpretations of
          Standar Akuntansi Keuangan                                     Statement    of   Financial    Accounting
                                                                         Standards

          Penerapan dari standar, interpretasi baru/revisi               The adoption of these new and amended
          standar berikut yang berlaku efektif mulai 1                   standards and interpretations that are effective
          Januari 2023, tidak menimbulkan perubahan                      beginning 1 January 2023 did not result in
          substansial terhadap kebijakan akuntansi Grup                  substantial changes to the Group’s accounting
          dan pengaruh yang material atas jumlah yang                    policies and had no material effect on the
          dilaporkan atas tahun berjalan atau tahun                      amounts reported for the current or prior
          sebelumnya.                                                    financial years.

          •   Amandemen PSAK 1: “Penyajian laporan                       •   Amendment to PSAK 1: “Presentation of
              keuangan         tentang      pengungkapan                     financial statements on disclosure of
              kebijakan akuntansi”;                                          accounting policies”;
          •   Amandemen PSAK 16: “Aset tetap tentang                     •   Amendment PSAK 16: “Fixed assets on
              hasil     sebelum      penggunaan        yang                  proceeds before intended use”;
              diintensikan”;
          •   Amandemen         PSAK     25:     “Kebijakan              •   Amendments to PSAK 25: “Accounting
              akuntansi, perubahan Estimasi akuntansi,                       policies, changes in accounting estimates
              dan kesalahan tentang definisi estimasi                        and errors in the definition of accounting
              akuntansi”;                                                    estimates “;
          •   Amandemen          PSAK        46:     “Pajak              •   Amandment PSAK 46: “Taxation” (Assets
              penghasilan” (Aset dan kewajiban yang                          and liabilities arising from a single
              timbul dari transaksi tunggal)                                 transaction)

          Standar baru, amandemen dan revisi yang telah                  The new standard, amendments and revisions
          diterbitkan, namun belum berlaku efektif untuk                 issued but not yet effective for the financial year
          tahun buku yang dimulai pada 1 Januari 2023                    beginning 1 January 2023 are as follows:
          adalah sebagai berikut:

          •   Amandemen PSAK 1: “Penyajian laporan                       •   Amendment to PSAK 1: “Presentation of
              keuangan” – Klasifikasi liabilitas lancar atau                 financial statements” – Classification of
              tidak lancar;                                                  liabilities as current or non-current;
          •   PSAK 74: “Kontrak asuransi”;                               •   PSAK 74: “Insurance contracts”;
          •   Amandemen PSAK 1: “Penyajian laporan                       •   Amendment to PSAK 1: “Presentation of
              keuangan” – Liabilitas jangka panjang                          financial statement” – Non-current liabilities
              dengan kovenan;                                                with covenants;
          •   Amendemen PSAK 73: “Sewa” – Liabilitas                     •   Amendment to PSAK 73: “Leases” – Lease
              sewa pada transaksi jual dan sewa balik;                       liabilitiy in a sale and leaseback;
          •   Amandemen      PSAK        10:      “Pengaruh              •   Amendment to PSAK 10: “The effect of
              perubahan kurs valuta asing - Kekurangan                       changes in foreign exchange rates – Lack
              ketertukaran”;                                                 of exchangeability”;
          •   Amandemen PSAK 74: “Kontrak asuransi                       •   Amendment to PSAK 74: “Insurance
              tentang penerapan awal PSAK 74”;                               contracts regarding initial application of
                                                                             PSAK 74”;
          •   Amandemen PSAK 2: ”Laporan arus kas”;                      •   Amendment to PSAK 2: “Cash flow
              dan                                                            statements”; and
          •   Amandemen     PSAK    60: ”Instrumen                       •   Amendment           PSAK      60:    “Financial
              keuangan: Pengungkapan”.                                       instruments: Disclosures”.
Page 451
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/7 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN            AKUNTANSI       2.   MATERIAL       ACCOUNTING                     POLICY
     MATERIAL (lanjutan)                                        INFORMATION (continued)

     b.   Perubahan Pernyataan Standar Akuntansi                b.   Changes to the Statement of Financial
          Keuangan dan Interpretasi Pernyataan                       Accounting Standards and Interpretations of
          Standar Akuntansi Keuangan (lanjutan)                      Statement    of     Financial  Accounting
                                                                     Standards (continued)

          Standar baru, amandemen, dan revisi di atas                The above new standard, amendments and
          berlaku efektif mulai 1 Januari 2024, kecuali              revisions are effective beginning 1 January
          untuk amandemen PSAK No. 10, PSAK No.74                    2024, except for amendment to PSAK No. 10,
          dan amandemen PSAK No. 74 yang berlaku                     PSAK No. 74 and amendment to PSAK No. 74
          efektif mulai 1 Januari 2025, tetapi penerapan             which are effective beginning 1 January 2025,
          dini diperkenankan.                                        but early adoption is permitted.

          Mulai 1 Januari 2024, referensi terhadap PSAK              Beginning 1 January 2024, references to the
          dan Interpretasi Standar Akuntansi Keuangan                individual PSAK and Interpretations of
          (“ISAK”) akan diubah sebagaimana diterbitkan               Statements of Financial Accounting Standards
          oleh Dewan Standar Akuntansi Keuangan –                    ("ISAK") will be changed as published by the
          Ikatan Akuntan Indonesia (“DSAK-IAI”).                     Indonesian Accounting Standards Board -
                                                                     Indonesian Institute of Accountants ("DSAK-
                                                                     IAI").

          Pada saat penerbitan laporan keuangan                      As at the authorisation date of these
          konsolidasian,   Grup masih   mempelajari                  consolidated financial statements, the Group is
          dampak yang mungkin timbul dari penerapan                  still evaluating the possible impact of these
          standar tersebut pada laporan keuangan                     standards to the Group’s consolidated financial
          konsolidasian Grup.                                        statements.

     c.   Prinsip-prinsip konsolidasi                           c.   Principles of consolidation

          Entitas anak                                               Subsidiaries

          Entitas anak adalah seluruh entitas di mana                The Subsidiaries are all entities over which the
          Grup memiliki pengendalian atas entitas                    Group has control. The Group controls an entity
          tersebut. Grup mengendalikan entitas ketika                when the Group is exposed to, or has rights to,
          Grup terekspos, atau memiliki hak atas imbal               variable returns from its involvement with the
          hasil yang bervariasi dari keterlibatannya                 entity and has the ability to affect those returns
          dengan entitas dan memiliki kemampuan untuk                through its power over the entity. Subsidiaries
          mempengaruhi imbal hasil tersebut melalui                  are fully consolidated from the date on which
          kekuasaannya atas entitas. Entitas anak                    control is transferred to the Group. They are
          dikonsolidasikan secara penuh sejak tanggal                deconsolidated from the date that control
          dimana pengendalian dialihkan kepada Grup.                 ceases.
          Entitas anak tidak lagi dikonsolidasikan sejak
          tanggal berhentinya pengendalian.

          Transaksi, saldo, dan keuntungan atau                      Transactions, balances and unrealised gains or
          kerugian yang belum direalisasi dari transaksi             losses on transactions between entities within
          antar entitas dalam Grup dieliminasi.                      the Group are eliminated.

          Kebijakan akuntansi yang digunakan dalam                   The accounting policies adopted in preparing
          penyusunan laporan keuangan konsolidasian                  the consolidated financial statements have
          telah diterapkan secara konsisten oleh entitas             been consistently applied by subsidiaries.
          anak.
Page 452
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/8 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI        2.   MATERIAL       ACCOUNTING                       POLICY
     MATERIAL (lanjutan)                                           INFORMATION (continued)

     d.   Penjabaran mata uang asing                               d.   Foreign currency translation

          (i)   Mata uang fungsional dan penyajian                      (i)   Functional and presentation currency

                Transaksi-transaksi yang disertakan dalam                     Items included in the financial statements
                laporan keuangan setiap entitas anggota                       of each the Group’s entity are measured
                Grup diukur menggunakan mata uang yang                        using the currency of the primary
                sesuai dengan lingkungan ekonomi utama                        economic environment in which the entity
                di mana entitas beroperasi (“mata uang                        operates (the “functional currency”).
                fungsional”).

                Laporan keuangan konsolidasian disajikan                      The consolidated financial statements are
                dalam Dolar Amerika Serikat (Dolar AS                         presented in United States Dollar (US
                atau AS$) yang merupakan mata uang                            Dollar or US$), which is the functional and
                fungsional dan penyajian Grup.                                presentation currency of the Group.

          (ii) Transaksi dan saldo                                      (ii) Transactions and balances

                Transaksi dalam mata uang asing                               Foreign     currency     transactions      are
                dijabarkan ke dalam mata uang fungsional                      translated into functional currency using
                dengan menggunakan kurs yang berlaku                          the exchange rates prevailing at the dates
                pada tanggal transaksi. Pada setiap                           of the transactions. At each reporting date,
                tanggal pelaporan, aset dan liabilitas                        monetary       assets      and      liabilities
                moneter dalam mata uang asing dijabarkan                      denominated in foreign currency are
                ke    dalam     mata    uang     fungsional                   translated into functional currency using
                menggunakan kurs penutup. Kurs yang                           the closing exchange rate. Exchange rate
                digunakan sebagai acuan adalah kurs yang                      used as benchmark is the rate which is
                dikeluarkan oleh Bank Indonesia.                              issued by Bank Indonesia.

                Keuntungan dan kerugian selisih kurs yang                     Foreign exchange gains and losses
                timbul dari penyelesaian transaksi dalam                      resulting from the settlement of such
                mata uang asing dan dari penjabaran aset                      transactions and from the translation at
                dan liabilitas moneter dalam mata uang                        period-end exchange rates of monetary
                asing secara umum diakui di dalam laporan                     assets and liabilities denominated in
                laba rugi konsolidasian.                                      foreign       currencies are    generally
                                                                              recognised in the consolidated statement
                                                                              of profit or loss.

                Kurs utama yang digunakan, berdasarkan                        The main exchange rate used, based on
                kurs tengah dari kurs jual dan beli yang                      the middle rates of the sell and buy rates
                diterbitkan  Bank    Indonesia    adalah                      published by Bank          Indonesia, is
                Rp15.416 untuk AS$1 (2022: Rp15.731                           Rp15,416 for US$1 (2022: Rp15,731 for
                untuk AS$1).                                                  US$1).
Page 453
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                 Lampiran 5/9 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN                 AKUNTANSI     2.   MATERIAL       ACCOUNTING                    POLICY
     MATERIAL (lanjutan)                                           INFORMATION (continued)

     d.   Penjabaran mata uang asing (lanjutan)                    d.   Foreign currency translation (continued)

          (ii) Transaksi dan saldo (lanjutan)                           (ii) Transactions and balances (continued)

              Hasil usaha operasi dan posisi keuangan                       The results of the operations and financial
              dari entitas anak Grup yang memiliki mata                     position of the Group’s subsidiaries that
              uang fungsional yang berbeda dengan                           have a functional currency different from
              mata      uang     penyajian     Perusahaan,                  the Company’s presentation currency are
              ditranslasikan dalam mata uang penyajian                      translated into the Company’s presentation
              Perusahaan sebagai berikut:                                   currency as follows:
              •    Aset dan liabilitas yang disajikan pada                  •   The assets and liabilities presented in
                   laporan          posisi       keuangan                       the consolidated statement of financial
                   konsolidasian, dijabarkan pada kurs                          position are translated at the closing
                   penutup     tanggal     laporan   posisi                     rate at the date of the consolidated
                   keuangan konsolidasian tersebut;                             statement of financial position;
              •    Penghasilan dan beban untuk setiap                       •   The income and expenses for each
                   laba rugi dijabarkan menggunakan                             item of profit or loss are translated at
                   kurs rata-rata (kecuali jika rata-rata                       the average exchange rates (unless
                   tersebut bukan perkiraan wajar efek                          this average is not a reasonable
                   kumulatif dari kurs yang berlaku pada                        approximation of the cumulative effect
                   tanggal transaksi, maka penghasilan                          of the rates prevailing on the
                   dan beban dijabarkan menggunakan                             transaction dates, in which case the
                   kurs tanggal transaksi); dan                                 income and expenses are translated at
                                                                                the rates in force on the dates of the
                                                                                transactions); and
              •    Seluruh selisih kurs yang timbul diakui                  •   All of the resulting exchange
                   dalam penghasilan komprehensif lain.                         differences are recognised in other
                                                                                comprehensive income.

     e.   Transaksi dengan pihak-pihak berelasi                    e.   Transactions with related parties

          Grup telah melakukan transaksi dengan pihak-                  The Group has entered into transactions with
          pihak berelasi tertentu, sesuai dengan PSAK 7                 certain related parties as defined under PSAK 7
          “Pengungkapan pihak-pihak berelasi”.                          “Related party disclosures”.

          Perusahaan dikendalikan oleh entitas langsung                 The Company are controlled by its immediate
          induk langsungnya, Garuda, Badan Usaha Milik                  parent company, Garuda, a State-owned
          Negara. Maka, saldo dan transaksi yang                        Enterprise. Therefore, significant transactions
          material antara Grup dengan Pemerintah                        and balances of the Group with the
          Negara Republik Indonesia dan entitas berelasi                Government of the Republic of Indonesia and
          dengan Pemerintah diungkapkan dalam catatan                   Government-related entities are disclosed in the
          atas laporan keuangan konsolidasian yang                      relevant notes to the consolidated financial
          relevan. Grup memilih untuk mengungkapkan                     statements. The Group elected to disclose the
          transaksi dengan entitas berelasi dengan                      transactions with Government-related entities,
          Pemerintah       dengan        menggunakan                    using the exemption from general related party
          pengecualian dari persyaratan pengungkapan                    disclosure requirements.
          pihak berelasi.

          Seluruh transaksi yang signifikan dengan pihak-               All significant transactions with related parties
          pihak berelasi telah diungkapkan dalam catatan                are disclosed in the notes to the consolidated
          atas laporan keuangan konsolidasian.                          financial statements.
Page 454
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/10 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                    (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI        2.   MATERIAL       ACCOUNTING                         POLICY
     MATERIAL (lanjutan)                                           INFORMATION (continued)

     f.   Aset dan liabilitas keuangan                             f.     Financial assets and liabilities

          Instrumen keuangan adalah setiap kontrak                        A financial instrument is any contract that gives
          yang memberikan kenaikan nilai aset keuangan                    rise to a financial asset for one entity and a
          dari satu entitas dan liabilitas keuangan atau                  financial liability or equity instrument for another
          instrumen ekuitas dari entitas lainnya.                         entity.

          Aset keuangan                                                   Financial assets

          Pengakuan awal                                                  Initial recognition

          Klasifikasi dan pengukuran aset keuangan                        The classification and measurement of financial
          harus didasarkan pada model bisnis dan arus                     assets are based on business model and
          kas kontraktual - apakah hanya dari                             contractual cash flows - whether from solely
          pembayaran pokok dan bunga.                                     payment of principal and interest.

          Aset keuangan diklasifikasikan dalam lingkup                    Financial assets within the scope of PSAK 71
          PSAK 71 dikategorikan sebagai berikut:                          are classified into categories as follows:
           -   Aset keuangan yang diukur dengan biaya                     -    Financial assets at amortised cost;
               diamortisasi;                                              -    Financial assets at fair value through profit
           -   Aset keuangan yang diukur dengan nilai                          or loss (FVTPL) or other comprehensive
               wajar melalui laba rugi atau melalui                            income (FVOCI).
               penghasilan komprehensif lain.

          Pada tanggal 31 Desember 2023, Grup hanya                       As at 31 December 2023, the Group only has
          memiliki aset keuangan yang diukur pada biaya                   financial assets measured at amortised cost,
          perolehan diamortisasi, yang terdiri dari piutang               which comprise of trade receivables, other
          usaha, piutang lainnya, aset kontrak, dan kas                   receivables, contract assets, and cash and
          dan setara kas di laporan posisi keuangan                       cash equivalents in the consolidated statements
          konsolidasian. Aset keuangan diklasifikasikan                   of financial position. Financial assets are
          sebagai aset lancar, jika jatuh tempo dalam                     classified as current assets if expected to be
          waktu 12 bulan, jika tidak maka aset keuangan                   settled within 12 months, otherwise they are
          ini diklasifikasikan sebagai aset tidak lancar.                 classified as non-current assets.

          Grup menentukan klasifikasi aset keuangan                        The Group determines the classification of its
          pada saat pengakuan awal. Aset keuangan                          financial assets at initial recognition. The Group
          Grup diklasifikasikan sebagai aset keuangan                      has financial assets classified as financial
          yang diukur dengan biaya diamortisasi dan aset                   assets at amortised cost and financial assets at
          keuangan yang diukur dengan nilai wajar                          fair value through profit or loss.
          melalui laba rugi.

          Semua aset keuangan pada awalnya diakui                         All financial assets are recognised initially at fair
          sebesar nilai wajar ditambah dengan biaya-                      value plus transaction costs, except in the case
          biaya transaksi, kecuali aset keuangan yang                     of financial assets which are recorded at fair
          dicatat pada nilai wajar melalui laba rugi. Biaya               value through profit or loss. Transaction costs
          transaksi dari aset keuangan yang dicatat pada                  of financial assets carried at fair value through
          nilai wajar melalui laba rugi dibebankan pada                   profit or loss are expensed in the profit or loss.
          laba rugi.
Page 455
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/11 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI         2.   MATERIAL        ACCOUNTING                      POLICY
     MATERIAL (lanjutan)                                            INFORMATION (continued)

     f.   Aset dan liabilitas keuangan (lanjutan)                   f.   Financial assets and liabilities (continued)

          Aset keuangan (lanjutan)                                       Financial assets (continued)

          Pengukuran setelah pengakuan awal                              Subsequent measurement

          Aset keuangan kelompok biaya perolehan                         Financial assets classified as amortised cost
          diamortisasi dan liabilitas keuangan lainnya                   and other financial liabilities measured at
          diukur pada biaya perolehan diamortisasi                       amortised cost using the effective interest rate
          dengan menggunakan metode suku bunga                           method.
          efektif.

          Penghentian pengakuan                                          Derecognition

          Aset keuangan (atau mana yang lebih tepat,                     A financial asset (or where applicable, a part of
          bagian dari aset keuangan atau bagian dari                     a financial asset or part of a group of similar
          kelompok aset keuangan serupa) dihentikan                      financial assets) is derecognised when: (1) the
          pengakuannya pada saat: (1) hak kontraktual                    contractual rights to receive cash flows from
          untuk menerima arus kas yang berasal dari aset                 the aset have expired; or (2) the Group has
          tersebut telah berakhir; atau (2) Grup telah                   transferred its contractual rights to receive the
          mengalihkan hak kontraktual mereka untuk                       cash flows of the financial assets or retained
          menerima arus kas yang berasal dari aset                       the contractual rights to receive the cash flows
          keuangan atau memiliki hak kontraktual untuk                   of the financial asset, but assumes a
          menerima arus kas yang berasal dari aset                       contractual obligation to pay the cash flows to
          keuangan, tetapi berkewajiban untuk membayar                   one or more recipients (pass-through transfer).
          arus kas ke satu atau lebih penerima (pass-
          through transfer).

          Liabilitas keuangan                                            Financial liabilities

          Pengakuan awal                                                 Initial recognition

          Liabilitas keuangan diklasifikasikan dalam                     Financial assets within the scope of PSAK 71
          lingkup PSAK 71 dikategorikan sebagai berikut:                 are classified into categories as follows:
            -    Liabilitas keuangan yang diukur dengan                  -    Financial liabilities at amortised cost;
                 biaya diamortisasi;                                     -    Financial liabilities at fair value through
            -    Liabilitas keuangan yang diukur dengan                       profit or loss (FVTPL) or other
                 nilai wajar melalui laba rugi.                               comprehensive income (FVOCI).

          Pada tanggal 31 Desember 2023, Grup hanya                      As at 31 December 2023, the Group only has
          memiliki liabilitas keuangan yang diukur pada                  financial liabilities categorised at amortised
          biaya perolehan diamortisasi, yang terdiri dari                cost which comprise of trade payables, other
          utang usaha, utang lain-lain, akrual, pinjaman,                payables, accruals, loans, lease liabilities, and
          liabilitas sewa, dan liabilitas keuangan jangka                other non-current financial liabilities. Financial
          panjang       lain-lain.   Liabilitas    keuangan              liabilities are classified as non-current liabilities
          diklasifikasikan sebagai liabilitas jangka panjang             when the remaining maturity is more than 12
          jika jatuh tempo melebihi 12 bulan dan sebagai                 months, and as current liabilities when the
          liabilitas jangka pendek jika jatuh tempo yang                 remaining maturity is less than 12 months.
          tersisa kurang dari 12 bulan.

          Semua liabilitas keuangan diakui pada awalnya                  All financial liabilities are recognised initially at
          sebesar nilai wajar.                                           fair value.
Page 456
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/12 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                     (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN               AKUNTANSI        2.   MATERIAL       ACCOUNTING                        POLICY
     MATERIAL (lanjutan)                                            INFORMATION (continued)

     f.   Aset dan liabilitas keuangan (lanjutan)                   f.     Financial assets and liabilities (continued)

          Liabilitas keuangan (lanjutan)                                   Financial liabilities (continued)

          Pengukuran setelah pengakuan awal                                Subsequent measurement

          Liabilitas keuangan diukur pada biaya                            Financial liabilities measured at amortised cost
          perolehan diamortisasi dengan menggunakan                        using the effective interest rate method.
          metode suku bunga efektif.

          Penghentian pengakuan                                            Derecognition

          Liabilitas keuangan dihentikan pengakuannya                      A financial liability is derecognised when the
          pada saat liabilitas tersebut berakhir atau                      obligation under the liability is discharged or
          dibatalkan atau kedaluwarsa. Dalam hal suatu                     cancelled or has expired. When an existing
          liabilitas keuangan yang ada digantikan oleh                     financial liability is replaced by another from the
          liabilitas keuangan lain dari pemberi pinjaman                   same lender with substantially different terms,
          yang sama dengan persyaratan yang berbeda                        or the terms of an existing liability are
          secara substansial, atau modifikasi secara                       substantially modified, such an exchange or
          substansial atas persyaratan dari suatu                          modification is treated as a derecognition of the
          liabilitas yang ada, pertukaran atau modifikasi                  original liability and the recognition of a new
          tersebut diperlakukan sebagai penghentian                        liability, with the difference in the respective
          pengakuan liabilitas awal dan pengakuan                          carrying amounts being recognised in the
          liabilitas baru, dan selisih antara nilai tercatat               consolidated profit or loss.
          masing-masing liabilitas diakui dalam laba rugi
          konsolidasian.

     g.   Instrumen keuangan disalinghapus                          g.     Offsetting 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                          financial position when there is a legally
          ketika terdapat hak yang berkekuatan hukum                       enforceable right to offset the recognised
          untuk melakukan saling hapus atas jumlah                         amounts and there is an intention to settle on a
          yang telah diakui tersebut dan adanya niat                       net basis, or realise the asset and settle the
          untuk menyelesaikan secara neto, atau untuk                      liability simultaneously. The legally enforceable
          merealisasikan aset dan menyelesaikan                            right must not be contingent on future events
          liabilitas secara bersamaan. Hak saling hapus                    and must be enforceable in the normal course
          tidak kontinjen atas peristiwa di masa depan                     of business and in the event of default,
          dan dapat dipaksakan secara hukum dalam                          insolvency or bankruptcy of the Group or the
          situasi bisnis yang normal dan dalam peristiwa                   counterparty.
          gagal bayar, peristiwa kepailitan atau
          kebangkrutan Grup atau pihak lawan.
Page 457
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/13 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN            AKUNTANSI       2.   MATERIAL       ACCOUNTING                      POLICY
     MATERIAL (lanjutan)                                        INFORMATION (continued)

     h.   Penurunan nilai aset keuangan                         h.     Impairment of financial assets

          Grup menilai dengan dasar perkiraan masa                     The Group assesses, on a forward-looking
          yang akan datang, kerugian kredit ekspektasian               basis, the expected credit losses associated
          terkait dengan aset keuangan yang dicatat                    with its financial assets measured subsequently
          pada biaya perolehan diamortisasi.                           at amortised cost.

          Untuk piutang, Grup menerapkan pendekatan                    For receivables, the Group applies the
          disederhanakan yang diizinkan oleh PSAK 71,                  simplified approach permitted by PSAK 71,
          yang mensyaratkan kerugian kredit seumur                     which requires expected lifetime credit losses to
          hidup yang diharapkan harus diakui dari                      be recognised from initial recognition of the
          pengakuan awal piutang. Tingkat kerugian                     receivables. The expected credit loss rates are
          kredit ekspektasian didasarkan pada profil                   based on the historical payment profile of
          pembayaran       historis  pelanggan     untuk               customers to estimate the probability of default
          memperkirakan kemungkinan gagal bayar dan                    and the corresponding historical credit losses
          kerugian kredit historis terkait yang dialami                experienced within the pre-determined period.
          dalam     periode    yang   telah   ditentukan               The historical credit loss rates are adjusted to
          sebelumnya. Tingkat kerugian kredit historis                 reflect current and forward-looking information
          disesuaikan untuk mencerminkan informasi                     on macroeconomic factors affecting the ability
          terkini dan informasi masa depan mengenai                    of the customers to settle the receivables.
          faktor-faktor        makroekonomi         yang               Trade receivables are written off when there is
          mempengaruhi kemampuan pelanggan untuk                       no reasonable expectation to recover the
          melunasi piutang. Piutang usaha dihapuskan                   receivables.
          jika tidak ada harapan yang wajar untuk
          memulihkan piutang.

          Kas di bank dan deposito berjangka juga                      Cash in banks and time deposits are also
          menjadi subjek persyaratan penurunan nilai                   subject to impairment requirements of PSAK
          PSAK 71. Tingkat kerugian kredit yang                        71. The expected credit loss rates are based on
          diharapkan didasarkan pada peringkat kredit                  the bank’s credit rating to estimate the
          bank untuk mengestimasi kemungkinan gagal                    probability of default over a given time horizon
          bayar selama jangka waktu tertentu dan untuk                 and to estimate the losses arising on default.
          mengestimasi kerugian yang timbul karena
          gagal bayar.

     i.   Kas dan setara kas                                    i.     Cash and cash equivalents

          Kas dan setara kas mencakup kas, simpanan                    Cash and cash equivalents include cash in
          yang sewaktu-waktu bisa dicairkan dan                        hand, deposits held at call with banks, other
          investasi likuid jangka pendek lainnya dengan                short-term highly liquid investments with original
          yang jatuh tempo dalam waktu tiga bulan atau                 maturities of three months.
          kurang.

          Kas dan setara kas yang telah ditentukan                     Cash and cash equivalents which have been
          penggunaannya atau yang tidak dapat                          restricted for certain purposes or which cannot
          digunakan secara bebas tidak digolongkan                     be used freely are not classified as cash and
          dalam kas dan setara kas.                                    cash equivalents
Page 458
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/14 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                    (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI        2.   MATERIAL        ACCOUNTING                       POLICY
     MATERIAL (lanjutan)                                           INFORMATION (continued)

     j.   Piutang usaha dan piutang lain-lain                      j.     Trade and other receivables

          Piutang usaha merupakan jumlah yang                             Trade receivables are amounts due from
          terutang dari pelanggan atas penjualan barang                   customers for merchandise sold or services
          dagangan atau jasa dalam kegiatan usaha                         performed in the ordinary course of business. If
          normal. Jika piutang diperkirakan dapat ditagih                 collection is expected in one year or, they are
          dalam waktu satu tahun atau kurang, piutang                     classified as current assets. If not, they are
          diklasifikasikan sebagai aset lancar. Jika tidak,               presented as non-current assets.
          piutang disajikan sebagai aset tidak lancar.

          Piutang lain-lain merupakan piutang yang                        Other receivables are receivables arising from
          berasal dari transaksi yang dilakukan di luar                   transactions outside the ordinary course of
          kegiatan usaha biasa. Piutang lain-lain dari                    business. Other receivables from related parties
          pihak berelasi disajikan sebagai aset tidak                     are presented as non-current assets.
          lancar.

          Kolektibilitas piutang usaha dan piutang lain-                  The collectability of trade receivables and other
          lain ditinjau secara berkala. Penyisihan piutang                receivables is periodically reviewed. Allowance
          ragu-ragu diukur berdasarkan kerugian kredit                    for doubtful accounts is measured based on
          ekspektasian dengan melakukan reviu atas                        expected credit loss by reviewing the
          kolektibilitas saldo secara individual atau                     collectability of individual or collective balances
          kolektif sepanjang umur piutang usaha dengan                    throughout the life of the trade receivables
          pendekatan forward-looking yang dilakukan                       using the forward-looking approach at the end
          setiap akhir periode pelaporan. Piutang yang                    of each reporting period. Receivables, which
          diketahui tidak tertagih, dihapuskan secara                     are known to be uncollectible, are written off
          langsung dengan mengurangi nilai tercatatnya.                   immediately by reducing the carrying value.

     k.   Persediaan                                               k.     Inventories

          Persediaan dinyatakan sebesar nilai yang lebih                  Inventories are stated or net realisable value,
          rendah antara harga perolehan atau nilai                        whichever is lower and less a provision for
          realisasi bersih, dikurangi dengan provisi                      obsolete and slowmoving items. Cost is
          persediaan usang dan bergerak lambat. Biaya                     determined using the weighted average
          ditentukan dengan metode rata-rata tertimbang.                  method. Net realisable value represents the
          Nilai realisasi bersih merupakan taksiran harga                 estimated selling price for inventories less costs
          jual persediaan dikurangi biaya yang diperlukan                 necessary to make the sale.
          untuk menjual.

          Provisi persediaan usang dan bergerak lambat                    A provision for obsolete and slow moving items
          ditentukan berdasarkan estimasi penggunaan                      is determined on the basis of estimated future
          atau dengan mempertimbangkan umur masing-                       usage or ageing of each inventory item.
          masing item persediaan.

          Provisi dihapuskan pada saat persediaan                         Provisions are written off when inventories are
          usang dan tidak lancar tersebut telah terjual                   sold or physically disposed.
          atau secara fisik dihapuskan.
Page 459
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/15 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                              31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                  (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN            AKUNTANSI        2.   MATERIAL       ACCOUNTING                       POLICY
     MATERIAL (lanjutan)                                         INFORMATION (continued)

     l.   Aset tetap                                             l.     Fixed assets

          Grup menganalisis fakta dan keadaan untuk                     The     Group     analyses     the     facts  and
          masing-masing jenis hak atas tanah dalam                      circumstances for each type of land rights in
          menentukan akuntansi untuk hak atas tanah                     determining the accounting for each of these
          tersebut sehingga dapat merepresentasikan                     land rights so that it can accurately represent an
          dengan tepat kejadian atau transaksi ekonomi                  underlying economic event or transaction. If the
          yang mendasarinya. Jika hak atas tanah                        land rights do not transfer control of the
          tersebut tidak mengalihkan pengendalian atas                  underlying assets to the Group, but give the
          aset pendasar kepada Grup, melainkan                          rights to use the underlying assets, the Group
          mengalihkan hak untuk menggunakan aset                        applies the accounting treatment of these
          pendasar,     Grup   menerapkan      perlakuan                transactions as leases under PSAK 73
          akuntansi atas transaksi tersebut sebagai sewa                “Leases”. If land rights are substantially similar
          berdasarkan PSAK 73 “Sewa”. Jika hak atas                     to land purchases, the Group applies PSAK 16
          tanah secara substansi menyerupai pembelian                   “Fixed assets”.
          tanah, maka Grup menerapkan PSAK 16 “Aset
          tetap”.

          Bangunan dan prasarana yang dimiliki untuk                    Buildings and improvements held for use in the
          digunakan dalam penyediaan barang dan jasa,                   supply of goods and services or for
          atau untuk tujuan administratif disajikan                     administrative purposes are shown at fair value,
          sebesar nilai wajar, berdasarkan penilaian yang               based on valuations performed by external
          dilakukan oleh penilai independen eksternal                   independent valuers which are registered with
          yang telah terdaftar di OJK, dikurangi                        OJK, less subsequent depreciation. Valuations
          penyusutan. Penilaian atas aset tersebut                      are performed with sufficient regularity to
          dilakukan secara berkala untuk memastikan                     ensure that the fair value of a revalued asset
          bahwa nilai wajar aset yang direvaluasi tidak                 does not differ materially from its carrying
          berbeda secara material dengan jumlah                         amount. Any accumulated depreciation at the
          tercatatnya. Akumulasi penyusutan pada                        date of revaluation is eliminated against the
          tanggal revaluasi dieliminasi terhadap nilai                  gross carrying amount of the asset, and the net
          tercatat bruto aset dan nilai netonya disajikan               amount is restated to the revalued amount of
          kembali sebesar jumlah revaluasi aset. Aset                   the asset. All other fixed assets are stated at
          tetap lainnya dan peralatan disajikan sebesar                 historical cost less depreciation. Historical cost
          harga perolehan dikurangi dengan penyusutan.                  includes expenditure that is directly attributable
          Harga perolehan termasuk pengeluaran yang                     to the acquisition of the items.
          dapat diatribusikan secara langsung atas
          perolehan aset tersebut.

          Biaya-biaya setelah pengakuan awal diakui                     Subsequent costs are included in the asset’s
          sebagai bagian nilai tercatat aset atau sebagai               carrying amount or recognised as a separate
          aset yang terpisah, sebagaimana mestinya,                     asset, as appropriate, only when it is probable
          hanya jika kemungkinan besar Grup mendapat                    that future economic benefits associated with
          manfaat ekonomis di masa depan berkenaan                      the item will flow to the Group and the cost of
          dengan aset tersebut dan biaya perolehan aset                 the item can be measured reliably. The carrying
          dapat diukur dengan andal. Nilai tercatat dari                amount of the replaced part is derecognised. All
          komponen yang diganti dihapuskan. Biaya                       other repairs and maintenance are charged to
          perbaikan dan pemeliharaan dibebankan pada                    the consolidated statement of profit or loss
          laporan laba rugi konsolidasian dalam periode                 during the financial period in which they are
          keuangan ketika biaya-biaya tersebut terjadi.                 incurred.
Page 460
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/16 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                   (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN             AKUNTANSI        2.   MATERIAL       ACCOUNTING                       POLICY
     MATERIAL (lanjutan)                                          INFORMATION (continued)

     l.   Aset tetap (lanjutan)                                   l.     Fixed assets (continued)

          Kenaikan nilai tercatat yang timbul dari                       Increases in the carrying amount arising on
          revaluasi bangunan dan prasarana dikreditkan                   revaluation of building and improvements are
          sebagai bagian dari penghasilan komprehensif                   credited as part of other comprehensive
          lainnya. Penurunan yang menghapus nilai                        income. Decreases that offset previous
          kenaikan yang sebelumnya atas aset yang                        increases of the same asset are debited as part
          sama dibebankan sebagai bagian dari                            of other comprehensive income; all other
          penghasilan komprehensif; penurunan lainnya                    decreases are charged in the consolidated
          dibebankan     pada     laporan    laba    rugi                statement of profit or loss. At each reporting
          konsolidasian. Setiap periode pelaporan, selisih               period, the difference between depreciation
          antara penyusutan berdasarkan nilai revaluasi                  based on the revalued carrying amount of the
          aset yang diakui di dalam laporan laba rugi                    asset charged to the consolidated statement of
          konsolidasian dan penyusutan berdasarkan                       profit or loss and depreciation based on the
          harga perolehan awal aset ditransfer dari                      asset’s original cost is transferred from “asset
          “cadangan revaluasi aset” ke dalam “saldo                      revaluation reserve” to “retained earnings”.
          laba”.

          Penyusutan aset tetap dihitung dengan                          Depreciation on fixed assets is calculated using
          menggunakan metode garis lurus untuk                           the straight-line method to allocate their cost or
          mengalokasikan harga perolehan atau jumlah                     revalued amounts to their residual values over
          revaluasi sampai dengan nilai sisanya selama                   their estimated useful lives, as follows:
          masa manfaat yang diestimasi, sebagai berikut:

                                                    Tahun/Years

          Bangunan dan prasarana                        15 - 50                               Building and improvements
          Suku cadang rotable                            4 - 20                                       Rotable spare parts
          Peralatan dan perlengkapan bengkel            5 - 15                         Warehouse tools and equipments
          Peralatan kantor dan komputer                 2 - 15                         Office equipments and computers
          Perbaikan aset sewa                            2-3                                    Leasehold improvements

          Nilai sisa aset, masa manfaat dan metode                       The assets’ residual values, useful lives and
          penyusutan ditelaah dan jika perlu disesuaikan,                depreciation method are reviewed and adjusted
          pada setiap akhir periode pelaporan.                           if appropriate, at the end of each reporting
                                                                         period.

          Nilai tercatat aset segera diturunkan sebesar                  An asset’s carrying amount is written down
          jumlah yang dapat dipulihkan jika nilai tercatat               immediately to its recoverable amount if the
          aset lebih besar dari estimasi jumlah yang                     asset’s carrying amount is greater than its
          dapat dipulihkan.                                              estimated recoverable amount.

          Keuntungan atau kerugian bersih atas                           Net gains or losses on disposals are
          pelepasan aset tetap ditentukan dengan                         determined by comparing the proceeds with the
          membandingkan hasil yang diterima dengan                       carrying amount and are recognised within
          nilai tercatat dan diakui pada “pendapatan lain-               “other income, net” in the consolidated
          lain, bersih” dalam laporan laba rugi                          statement of profit or loss.
          konsolidasian.

          Jika aset yang direvaluasi dihapus, jumlah yang                When revalued assets are disposed, the
          dicatat di dalam ekuitas dipindahkan ke saldo                  amounts included in equity are transferred to
          laba.                                                          retained earnings.
Page 461
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/17 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                     (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN               AKUNTANSI        2.   MATERIAL       ACCOUNTING                        POLICY
     MATERIAL (lanjutan)                                            INFORMATION (continued)

     l.   Aset tetap (lanjutan)                                     l.     Fixed assets (continued)

          Akumulasi biaya konstruksi bangunan dan                          The accumulated costs of the construction of
          pemasangan mesin dikapitalisasi sebagai aset                     buildings and the installation of machinery are
          dalam       penyelesaian.   Biaya    tersebut                    capitalised as construction in progress. These
          direklasifikasi ke akun aset tetap pada saat                     costs are reclassified to fixed assets when the
          proses konstruksi atau pemasangan selesai.                       construction or installation is complete.
          Penyusutan dimulai pada saat aset tersebut                       Depreciation is charged from the date the
          siap untuk digunakan sesuai dengan tujuan                        assets are ready for use in the manner intended
          yang diinginkan manajemen.                                       by management.


     m. Penurunan nilai aset non-keuangan                           m. Impairment of non-financial asset

          Pada setiap akhir periode pelaporan, Grup                        At the end of each reporting period, the Group
          menelaah nilai tercatat aset non-keuangan                        reviews the carrying amounts of non-financial
          untuk menentukan apakah terdapat indikasi                        assets to determine whether there is any
          bahwa aset tersebut telah mengalami                              indication that the assets have suffered an
          penurunan nilai. Kerugian akibat penurunan                       impairment loss. An impairment loss is
          nilai diakui sebesar selisih antara nilai tercatat               recognised at the amount by which the carrying
          aset dengan nilai yang dapat diperoleh kembali                   amount of the asset exceeds its recoverable
          dari aset tersebut.                                              amount.

          Nilai yang dapat diperoleh kembali adalah nilai                  A recoverable amount is the higher of its fair
          yang lebih tinggi antara nilai wajar dikurangi                   value less cost to sell and its value in use of the
          biaya untuk menjual dan nilai pakai aset. Dalam                  assets. For the purpose of assessing
          rangka mengukur penurunan nilai, aset                            impairment, assets are grouped at the lowest
          dikelompokkan hingga unit terkecil yang                          levels for which there are separately identifiable
          menghasilkan arus kas terpisah.                                  cash flows.

          Setiap tanggal pelaporan, aset non-keuangan                      At each reporting date, non-financial assets that
          yang telah mengalami penurunan nilai ditelaah                    suffered impairment are reviewed for possible
          untuk     menentukan       apakah    terdapat                    reversal of the impairment. Recoverable
          kemungkinan pemulihan penurunan nilai. Jika                      amounts are immediately recognised in the
          terjadi pemulihan nilai, maka langsung diakui                    consolidated statement of profit or loss, but not
          dalam laba rugi konsolidasian, tetapi tidak                      in excess of any accumulated impairment loss
          boleh melebihi akumulasi rugi penurunan nilai                    previously recognised.
          yang telah diakui sebelumnya.

     n.   Utang usaha                                               n.     Trade payables

          Utang usaha adalah kewajiban membayar                            Trade payables are obligations to pay for goods
          barang atau jasa yang telah diterima dalam                       or services that have been acquired in the
          kegiatan usaha biasa dari pemasok. Utang                         ordinary course of business from suppliers.
          usaha diklasifikasikan sebagai liabilitas jangka                 Trade payables are classified as current
          pendek jika pembayarannya jatuh tempo dalam                      liabilities if payment is due within one year or
          waktu satu tahun atau kurang. Jika tidak, utang                  less. If not, they are presented as non-current
          tersebut disajikan sebagai liabilitas jangka                     liabilities.
          panjang.
Page 462
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/18 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI        2.   MATERIAL       ACCOUNTING                       POLICY
     MATERIAL (lanjutan)                                           INFORMATION (continued)

     n.   Utang usaha (lanjutan)                                   n.   Trade payables (continued)

          Utang usaha pada awalnya diakui sebesar nilai                 Trade payables are recognised initially at fair
          wajar dan selanjutnya diukur pada biaya                       value and subsequently measured at amortised
          perolehan diamortisasi dengan menggunakan                     cost using the effective interest method.
          metode bunga efektif.

     o.   Pinjaman                                                 o.   Borrowings

          Pada saat pengakuan awal, pinjaman diakui                     Borrowings are recognised initially at fair value,
          sebesar nilai wajar, dikurangi dengan biaya-                  net of transaction costs incurred. Borrowings
          biaya transaksi yang terjadi. Selanjutnya,                    are subsequently carried at amortised cost; any
          pinjaman diukur sebesar biaya perolehan                       difference between the proceeds (net of
          diamortisasi;    selisih  antara    penerimaan                transaction costs) and the redemption value is
          (dikurangi biaya transaksi) dan nilai pelunasan               recognised in the consolidated statement of
          dicatat pada laporan laba rugi konsolidasian                  profit or loss over the period of the borrowings
          selama        periode    pinjaman        dengan               using the effective interest method.
          menggunakan metode bunga efektif.

          Biaya yang dibayar untuk memperoleh fasilitas                 Fees paid on the establishment of loan facilities
          pinjaman diakui sebagai biaya transaksi                       are recognised as transaction costs of the loan
          pinjaman sepanjang besar kemungkinan                          to the extent that it is probable that some or all
          sebagian atau seluruh fasilitas akan ditarik.                 of the facility will be drawn down. In this case,
          Dalam hal ini, biaya memperoleh pinjaman                      the fee is deferred until the drawdown occurs.
          ditangguhkan sampai penarikan pinjaman                        To the extent that there is no evidence of it
          terjadi. Sepanjang tidak terdapat bukti bahwa                 being probable that some or all of the facility will
          besar kemungkinan sebagian atau seluruh                       be drawn down, the fee is capitalised as a pre-
          fasilitas akan ditarik, biaya memperoleh                      payment for liquidity services and amortised
          pinjaman dikapitalisasi sebagai pembayaran                    over the period of the facility to which it relates.
          dimuka untuk jasa likuiditas dan diamortisasi
          selama periode fasilitas yang terkait.

          Pinjaman akan dihentikan pengakuannya dari                    Borrowings are removed from the statement of
          laporan posisi keuangan ketika kewajiban yang                 financial position when the obligation specified
          tertulis pada kontrak dibatalkan, atau sudah                  in the contract is discharged, canceled or has
          tidak berlaku. Selisih antara nilai tercatat dari             expired. The difference between the carrying
          liabilitas keuangan yang sudah berakhir atau                  amount of a financial liability that has been
          dialihkan ke pihak lain, dan imbalan yang                     extinguished or transferred to another party and
          dibayarkan, termasuk aset non kas yang                        the consideration paid, including any non-cash
          dialihkan atau liabilitas yang ditanggung, diakui             assets transferred or liabilities assumed, is
          dalam laporan laba rugi konsolidasian sebagai                 recognised in the consolidated statement of
          pendapatan lain-lain atau biaya keuangan.                     profit or loss as other income or finance costs.

          Pinjaman diklasifikasikan sebagai liabilitas                  Borrowings are classified as current liabilities
          jangka pendek kecuali Grup memiliki hak tanpa                 unless the Group has an unconditional right to
          syarat untuk menunda pembayaran liabilitas                    defer the settlement of the liability for at least 12
          selama paling tidak 12 bulan setelah tanggal                  months after the reporting date.
          pelaporan.
Page 463
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/19 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN             AKUNTANSI        2.   MATERIAL       ACCOUNTING                      POLICY
     MATERIAL (lanjutan)                                          INFORMATION (continued)

     p.   Provisi dan kontinjensi                                 p.   Provision and contingency

          Provisi diakui ketika Grup memiliki kewajiban                Provision is recognised when the Group has a
          hukum atau konstruktif masa kini sebagai akibat              present legal or constructive obligation as a
          peristiwa masa lalu; terdapat kemungkinan                    result of past events; when it is probable that an
          besar    penyelesaian    kewajiban    tersebut               outflow of resources will be required to settle
          mengakibatkan arus keluar sumber daya; dan                   the obligation; and when the amount has been
          jumlah kewajiban tersebut dapat diukur secara                reliably estimated. Provision is not recognised
          andal. Provisi tidak diakui untuk kerugian                   for future operating losses.
          operasi masa depan.

          Ketika terdapat beberapa kewajiban yang                      Where there are a number of similar
          serupa,       kemungkinan        penyelesaian                obligations, the likelihood that an outflow will be
          mengakibatkan arus keluar ditentukan dengan                  required in settlement is determined by
          mempertimbangkan kelas kewajiban secara                      considering the class of obligations as a whole.
          keseluruhan.     Provisi  diakui    walaupun                 A provision is recognised even if the likelihood
          kemungkinan adanya arus keluar sehubungan                    of an outflow with respect to any one item
          dengan item manapun yang termasuk dalam                      included in the same class of obligations may
          kelas kewajiban yang sama mungkin kecil.                     be small.

          Provisi diukur sebesar nilai kini dari estimasi              Provisions are measured at the present value of
          terbaik manajemen atas pengeluaran yang                      management’s best estimate of the expenditure
          diharapkan diperlukan untuk menyelesaikan                    required to settle the present obligation at the
          kewajiban kini pada akhir periode pelaporan.                 end of the reporting period. The discount rate
          Tingkat diskonto yang digunakan untuk                        used to determine the present value is a pretax
          menentukan nilai kini adalah tingkat diskonto                rate that reflects current market assessments of
          sebelum pajak yang mencerminkan penilaian                    the time value of money and the risks specific
          pasar atas nilai waktu uang dan risiko yang                  to the liability. The increase in the provision due
          terkait dengan kewajiban. Peningkatan provisi                to the passage of time is recognised as interest
          karena berjalannya waktu diakui sebagai beban                expense.
          bunga.

          Liabilitas kontinjensi tidak diakui pada laporan             Contingent liabilities are not recognised in the
          keuangan konsolidasian. Liabilitas kontinjensi               consolidated financial statements. They are
          diungkapkan di catatan atas laporan keuangan                 disclosed in the notes to consolidated financial
          konsolidasian kecuali kemungkinan keluarnya                  statements unless the possibility of an outflow
          sumber daya yang mewujudkan manfaat                          of resources embodying economic benefits is
          ekonomi sangat kecil. Aset kontinjensi tidak                 remote. Contingent assets are not recognised
          diakui     di    dalam      laporan    keuangan              in the consolidated financial statements but are
          konsolidasian, namun diungkapkan di dalam                    disclosed in the notes to the consolidated
          catatan atas laporan keuangan konsolidasian                  financial statements when an inflow of
          jika terdapat kemungkinan suatu arus masuk                   economic benefits is probable.
          manfaat ekonomis mengalir ke dalam entitas.
Page 464
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/20 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN            AKUNTANSI        2.   MATERIAL       ACCOUNTING                      POLICY
     MATERIAL (lanjutan)                                         INFORMATION (continued)

     q.   Sewa                                                   q.   Leases

          Pada tanggal awal dimulainya suatu kontrak,                 On the initial date of a contract, the Group
          Grup menilai apakah kontrak merupakan atau                  assesses whether the contract is or contains a
          mengandung sewa. Suatu kontrak mengandung                   lease. A contract contains a lease if the contract
          sewa apabila kontrak tersebut memberikan hak                transfers the right to control the use of an
          untuk     mengendalikan    penggunaan     aset              identified asset for a period of time to be
          identifikasian selama suatu jangka waktu untuk              exchanged for compensation.
          dipertukarkan dengan imbalan.

          Aset yang diperoleh melalui sewa diakui                     Assets obtained through lease are recognised
          sebagai aset hak guna dan liabilitas sewa.                  as right of use of asset and lease liabilities. On
          Pada tanggal permulaan, lessee mengukur aset                the initial date, lessee measures right of use of
          hak guna pada biaya perolehan yang meliputi                 asset at cost which include the initial
          jumlah pengukuran awal liabilitas sewa,                     measurement of lease liabilities, lease
          pembayaran sewa yang dilakukan pada atau                    payments       made      on    or    before     the
          sebelum tanggal permulaan dikurangi dengan                  commencement dates less the incentives
          insentif yang diterima, biaya langsung awal                 received, the initial direct costs incurred by the
          yang dikeluarkan oleh lessee, dan estimasi                  lessee, and estimated cost to be incurred by the
          biaya yang akan dikeluarkan oleh lessee dalam               lessee in dismantling and moving the
          membongkar dan memindahkan aset pendasar                    underlying assets and restoration costs.
          serta biaya restorasi.

          Aset    hak    guna   kemudian    disusutkan                The right of use asset is subsequently
          menggunakan metode garis lurus dari tanggal                 depreciated using the straight-line method from
          permulaan hingga tanggal yang lebih awal                    the commencement date to the earlier of the
          antara akhir umur manfaat aset hak guna atau                end of the useful life of the right of use asset or
          akhir masa sewa.                                            the end of the lease term.

          Liabilitas sewa diukur pada nilai kini                      The lease liability is initially measured at the
          pembayaran sewa yang belum dibayar pada                     present value of the lease payments that are
          tanggal permulaan, didiskontokan dengan                     not paid at the commencement date,
          menggunakan suku bunga implisit dalam sewa                  discounted using the interest rate implicit in the
          atau jika suku bunga tersebut tidak dapat                   lease or, if that rate cannot be readily
          ditentukan, maka menggunakan suku bunga                     determined, using incremental borrowing rate.
          pinjaman inkremental. Pada umumnya, Grup                    Generally, the Group uses its incremental
          menggunakan      suku       bunga     pinjaman              borrowing rate as the discount rate.
          inkremental sebagai tingkat bunga diskonto.

          Untuk menentukan suku bunga pinjaman                        To determine the incremental borrowing rate,
          tambahan, Grup:                                             the Group:
          - Jika      memungkinkan,        menggunakan                - Where possible, uses recent third-party
             pembiayaan pihak ketiga terkini yang                        financing received by the individual lessee
             diterima oleh penyewa individu sebagai titik                as a starting point, adjusted to reflect
             awal, disesuaikan untuk mencerminkan                        changes in financing conditions since third
             perubahan kondisi pembiayaan sejak                          party financing was received,
             pembiayaan pihak ketiga diterima,
          - Menggunakan pendekatan build-up yang                      -   Uses a build-up approach that starts with a
             dimulai dengan suku bunga bebas risiko                       risk-free interest rate adjusted for credit risk
             yang disesuaikan dengan risiko kredit untuk                  for leases held by Group, which does not
             sewa yang dimiliki oleh Grup, yang tidak                     have recent third-party financing, and
             memiliki pembiayaan pihak ketiga baru-baru
             ini, dan
          - Membuat penyesuaian spesifik untuk sewa,                  -   Makes adjustments specific to the lease,
             sebagai contoh jangka waktu, negara, mata                    e.g., term, country, currency and security.
             uang dan keamanan.
Page 465
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/21 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                     (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI       KEBIJAKAN               AKUNTANSI         2.   MATERIAL       ACCOUNTING                      POLICY
     MATERIAL (lanjutan)                                            INFORMATION (continued)

     q.   Sewa (lanjutan)                                           q.     Leases (continued)

          Grup akan menilai modifikasi sewa dicatat                        The Group will assess whether the lease
          sebagai sewa terpisah atau tidak. Modifikasi                     modification is accounted as a separate lease
          sewa yang tidak dicatat sebagai sewa terpisah,                   or not. For a lease modification that is not
          Grup menilai kembali liabilitas sewa dengan                      accounted as a separate lease, the Group
          mendiskontokan        pembayaran         sewa                    remeasured the lease liability by discounting
          menggunakan tingkat diskonto yang direvisi.                      the revised lease payments using a revised
                                                                           discount rate.

          Pembayaran sewa yang termasuk dalam                              Lease payments included in the measurement
          pengukuran       liabilitas    sewa     meliputi                 of the lease liability comprises the following:
          pembayaran berikut ini:
          - pembayaran tetap (termasuk pembayaran                          -   fixed payments (including in-substance
             tetap secara substansi), dikurangi piutang                        fixed payments), less any lease incentives
             insentif sewa,                                                    receivable,
          - pembayaran         sewa      variabel   yang                   -   variable lease payment that are based on
             didasarkan pada indeks atau tingkat, pada                         an index or a rate, initially measured using
             awalnya diukur menggunakan indeks atau                            the index or rate as at the commencement
             tingkat pada tanggal mulai,                                       date,
          - jumlah yang diperkirakan akan dibayarkan                       -   amounts expected to be payable by the
             oleh penyewa berdasarkan jaminan nilai                            lessee under residual value guarantees,
             residu,
          - harga pelaksanaan dari opsi pembelian jika                     -   the exercise price of a purchase option if
            penyewa cukup yakin untuk menggunakan                              the lessee is reasonably certain to exercise
            opsi tersebut, dan                                                 that option, and
          - pembayaran penalti untuk penghentian                           -   payments of penalties for terminating the
            sewa, jika masa sewa mencerminkan                                  lease, if the lease term reflects the lessee
            penyewa       yang       melaksanakan    opsi                      exercising that termination option.
            penghentian tersebut.

          Grup dihadapkan pada potensi kenaikan di                         The Group is exposed to potential future
          masa depan dalam pembayaran sewa variabel                        increases in variable lease payments based on
          berdasarkan indeks atau tarif, yang tidak                        an index or rate, which are not included in the
          termasuk dalam liabilitas sewa sampai                            lease liability until they take effect. When
          diberlakukan. Ketika penyesuaian pembayaran                      adjustments to lease payments based on an
          sewa berdasarkan indeks atau suku bunga                          index or rate take effect, the lease liability is
          mulai berlaku, liabilitas sewa dinilai kembali dan               reassessed and adjusted against the right-of-
          disesuaikan dengan aset hak guna.                                use asset.

          Pembayaran sewa dialokasikan antara pokok                        Lease payments are allocated between
          dan biaya keuangan. Biaya keuangan                               principal and finance cost. The finance cost is
          dibebankan    pada     laporan      laba   rugi                  charged to the consolidated statement of profit
          konsolidasian selama masa sewa sehingga                          or loss over the lease period so as to produce a
          menghasilkan suku bunga periodik yang                            constant periodic rate of interest on the
          konstan atas sisa saldo liabilitas untuk setiap                  remaining balance of the liability for each
          periode.                                                         period.

          Aset hak-guna disajikan sebagai bagian dari                      Right of use of asset is presented as fixed
          aset tetap, sedangkan liabilitas sewa disajikan                  assets, whereas lease liabilities are presented
          sebagai liabilitas jangka panjang kecuali untuk                  as long-term liabilities except for the parts that
          bagian yang jatuh tempo dalam 12 bulan atau                      are due in 12 months or less that are presented
          kurang yang disajikan sebagai liabilitas jangka                  as short-term liabilities. The Group does not
          pendek. Grup tidak mengakui aset hak guna                        recognise the right of use of asset and lease
          dan liabilitas sewa untuk sewa jangka pendek                     liabilities for short-term leases that have a lease
          yang memiliki masa sewa satu tahun atau                          period of one year or less and leases with low
          kurang dan sewa dengan aset bernilai rendah.                     value assets.
Page 466
                                PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                     DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/22 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                              31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                  (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN             AKUNTANSI       2.   MATERIAL       ACCOUNTING                     POLICY
     MATERIAL (lanjutan)                                         INFORMATION (continued)

     q.   Sewa (lanjutan)                                        q.     Leases (continued)

          Pembayaran sewa variabel                                      Variable lease payment

          Beberapa sewa berisi syarat pembayaran                        Some leases contain variable payment terms
          variabel yang dihubungkan ke pemakaian aset                   that are linked to the usage of the assets.
          sewa.     Ketentuan     pembayaran     variabel               Variable payment terms are used for a variety
          digunakan untuk berbagai alasan, termasuk                     of reasons, including minimising the fixed costs
          meminimalkan dasar biaya tetap untuk sewa                     base for newly modified lease agreement.
          yang baru dimodifikasi. Pembayaran sewa                       Variable lease payments that depend on the
          variabel yang bergantung pada intensitas                      usage of the underlying assets recognised in
          pemakaian aset sewa diakui dalam laporan                      the consolidated statement of profit or loss in
          laba rugi konsolidasian pada periode terjadinya               the period in which the condition that triggers
          kondisi yang memicu pembayaran tersebut.                      those payments occurs.

          Opsi ekstensi dan terminasi                                   Extension and termination options

          Opsi ekstensi dan terminasi termasuk dalam                    Extension and termination options are included
          sejumlah sewa properti dan peralatan di seluruh               in a number of property and equipment leases
          Grup. Istilah-istilah ini digunakan untuk                     across the Group. These terms are used to
          memaksimalkan fleksibilitas operasional dalam                 maximise operational flexibility in terms of
          hal pengelolaan kontrak. Mayoritas opsi                       managing contracts. The majority of extension
          ekstensi dan terminasi yang dimiliki hanya                    and termination options held are exercisable
          dapat dilaksanakan oleh Grup dan bukan oleh                   only by the Group and not by the respective
          pemberi sewa masing-masing.                                   lessor.

     r.   Imbalan kerja                                          r.     Employee benefits

          Imbalan pascakerja                                            Post-employment benefits

          Grup memiliki berbagai program pensiun sesuai                 The Group has various pension schemes in
          dengan       undang-undang   dan    peraturan                 accordance with prevailing labor-related laws
          ketenagakerjaan yang berlaku dan kebijakan                    and regulations and the Group’s policy. The
          Grup. Grup memiliki program imbalan pasti dan                 Group has both defined benefit and defined
          iuran pasti.                                                  contribution plans.

          Program iuran pasti                                           Defined contribution plan

          Program pensiun iuran pasti adalah sebuah                     A defined pension contribution plan is a pension
          program pensiun dimana Grup akan membayar                     plan under which the Group pays fixed
          iuran tetap kepada sebuah entitas yang                        contributions into a separate entity (a pension
          terpisah (dana pensiun) dan tidak memiliki                    fund) and will have no legal or constructive
          kewajiban hukum atau konstruktif untuk                        obligations to pay further contributions if the
          membayar kontribusi lebih lanjut apabila dana                 fund does not hold sufficient assets to pay all
          pensiun tersebut tidak memiliki aset yang                     employees the benefits relating to employee
          memadai untuk membayar seluruh imbalan                        service in the current and prior years.
          karyawan      yang    berhubungan      dengan
          pelayanan yang diberikan oleh karyawan pada
          tahun kini dan sebelumnya.
Page 467
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/23 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                    (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN              AKUNTANSI        2.   MATERIAL       ACCOUNTING                        POLICY
     MATERIAL (lanjutan)                                           INFORMATION (continued)

     r.   Imbalan kerja (lanjutan)                                 r.     Employee benefits (continued)

          Imbalan pascakerja (lanjutan)                                   Post-employment benefits (continued)

          Program imbalan pasti                                           Defined benefit plan

          Program pensiun imbalan pasti adalah program                    A defined pension benefit plan is a pension plan
          pensiun yang menentukan jumlah imbalan                          that defines an amount of pension benefit to be
          pensiun yang akan diberikan, biasanya                           provided, usually as a function of one or more
          berdasarkan pada satu faktor atau lebih seperti                 factors, such as age, years of service or
          usia, masa kerja atau kompensasi.                               compensation.

          Kewajiban program pensiun imbalan pasti yang                    The liability recognised in the statement of
          diakui di laporan posisi keuangan adalah nilai                  financial position in respect of defined benefit
          kini kewajiban imbalan pasti pada tanggal                       pension plans is the present value of the
          laporan posisi keuangan dikurangi nilai wajar                   defined benefit obligation at the statement of
          aset program. Kewajiban imbalan pasti dihitung                  financial position date, less the fair value of plan
          setiap tahun oleh aktuaris independen dengan                    assets. The defined benefit obligation is
          menggunakan metode Projected Unit Credit.                       calculated annually by independent actuaries
          Nilai kini kewajiban imbalan pasti ditentukan                   using the projected-unit-credit method. The
          dengan mendiskontokan estimasi arus kas                         present value of the defined benefit obligation is
          keluar di masa depan dengan menggunakan                         determined by discounting the estimated future
          tingkat bunga obligasi pemerintah (dengan                       cash outflows using the interest rates of
          pertimbangan saat ini tidak terdapat pasar aktif                government bonds (considering that currently
          untuk obligasi korporat berkualitas tinggi) dalam               there is no deep market for high-quality
          mata uang yang sama dengan mata uang                            corporate bonds) that are denominated in the
          imbalan yang akan dibayarkan dan waktu jatuh                    currency in which the benefit will be paid and
          temponya kurang lebih sama dengan kewajiban                     that have terms to maturity approximating the
          yang bersangkutan.                                              terms of the related pension liability.

          Biaya jasa kini dari program pensiun imbalan                    The current service cost of the defined benefit
          pasti diakui pada beban imbalan kerja dalam                     plan is recognised in the consolidated
          laporan    laba    rugi   konsolidasian   yang                  statement of profit or loss in employee benefit
          mencerminkan peningkatan kewajiban imbalan                      expense, which reflects the increase in the
          pasti yang dihasilkan dari jasa karyawan dalam                  defined obligations resulting from employee
          tahun berjalan.                                                 service in the current year.

          Pengukuran kembali imbalan pascakerja yang                      Remeasurement of post-employment benefits
          terdiri dari keuntungan dan kerugian aktuarial                  consists of actuarial gains and losses arising
          yang timbul dari penyesuaian pengalaman dan                     from experience adjustments and changes in
          perubahan dalam asumsi-asumsi aktuarial                         actuarial assumptions are directly recognised in
          langsung diakui seluruhnya melalui penghasilan                  other comprehensive income and reported in
          komprehensif lainnya dan dilaporkan di saldo                    retained earnings.
          laba.

          Keuntungan dan kerugian dari kurtailmen atau                    Gains or losses on the curtailment or settlement
          penyelesaian program manfaat pasti diakui di                    of a defined benefit plan are recognised in the
          laporan laba rugi konsolidasian ketika                          consolidated statement of profit or loss when
          kurtailmen atau penyelesaian tersebut terjadi.                  the curtailment or settlement occurs.

          Biaya jasa lalu diakui secara langsung di                       Past service costs are recognised immediately
          laporan laba rugi konsolidasian.                                in the consolidated statement of profit or loss.
Page 468
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/24 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                 FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                     (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN               AKUNTANSI        2.   MATERIAL       ACCOUNTING                        POLICY
     MATERIAL (lanjutan)                                            INFORMATION (continued)

     r.   Imbalan kerja (lanjutan)                                  r.     Employee benefits (continued)

          Imbalan pascakerja (lanjutan)                                    Post-employment benefits (continued)

          Imbalan kerja jangka panjang lain                                Other long-term benefits

          Perhitungan imbalan kerja jangka panjang                         Long-term benefits are determined using the
          ditentukan dengan menggunakan metode                             Projected Unit Credit Method. The long term
          Projected Unit Credit. Imbalan ini dihitung                      employee benefits liabilities are accounted for
          dengan menggunakan metodologi yang sama                          using the same methodology as for the defined
          dengan metodologi yang digunakan dalam                           benefit    pension      plan,      except   for
          perhitungan program pensiun imbalan pasti,                       remeasurements which are recognised in the
          kecuali untuk pengukuran kembali yang diakui                     consolidated statement of profit or loss.
          pada pada laporan laba rugi konsolidasian.

          Pesangon pemutusan kontrak kerja                                 Termination benefits

          Grup mengakui beban pesangon ketika terjadi                      The Group recognises termination benefits
          pemutusan kontrak kerja oleh Grup sebelum                        when employment is terminated by the Group
          tanggal pensiun normal, atau ketika pekerja                      before the normal retirement date, or whenever
          menerima penawaran untuk mengundurkan diri                       an employee accepts voluntary redundancy in
          secara sukarela sebagai pertukaran atas                          exchange for these benefits. The Group
          imbalan tersebut. Grup mengakui beban                            recognises termination benefits at the earlier of
          pesangon pada tanggal yang lebih awal                            the following dates: (a) when the Group can no
          diantara: (a) ketika Grup tidak dapat lagi                       longer withdraw the offer of those benefits; and
          menarik tawaran atas imbalan tersebut; (b)                       (b) when the Group recognises costs for a
          ketika     Grup     mengakui      biaya     untuk                restructuring that is within the scope of PSAK
          restrukturisasi yang berada dalam ruang                          57, “Provisions, contingent liabilities and
          lingkup PSAK 57, ”Provisi, liabilitas kontinjensi,               contingent assets” and which involves the
          dan     aset    kontinjensi”  dan     melibatkan                 payment of termination benefits. In the case of
          pembayaran pesangon. Dalam hal terjadi                           an offer being made to encourage voluntary
          penawaran pengunduran diri secara sukarela,                      redundancy, the termination benefits are
          imbalan diukur berdasarkan jumlah karyawan                       measured based on the number of employees
          yang diharapkan menerima tawaran tersebut.                       expected to accept the offer. Benefits falling
          Imbalan yang jatuh tempo lebih dari 12 bulan                     due more than 12 months after the end of the
          setelah periode pelaporan didiskontokan                          reporting period are discounted to their present
          menjadi nilai kininya.                                           value.

     s.   Perpajakan                                                s.     Taxation

          Beban pajak terdiri dari pajak kini dan pajak                    The tax expense comprises current and
          tangguhan. Pajak diakui dalam laporan laba                       deferred tax. Tax is recognised in the
          rugi konsolidasian, kecuali jika pajak tersebut                  consolidated statement of profit or loss, except
          terkait dengan transaksi atau kejadian yang                      to the extent that it relates to items recognised
          diakui di pendapatan komprehensif lain atau                      in other comprehensive income or directly in
          langsung diakui ke ekuitas. Dalam hal ini, pajak                 equity. In this case, the tax is also recognised in
          tersebut    masing-masing       diakui    dalam                  other comprehensive income or directly in
          pendapatan komprehensif lain atau ekuitas.                       equity, respectively.
Page 469
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                Lampiran 5/25 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                  31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                      (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN               AKUNTANSI         2.   MATERIAL       ACCOUNTING                        POLICY
     MATERIAL (lanjutan)                                             INFORMATION (continued)

     s.   Perpajakan (lanjutan)                                      s.     Taxation (continued)

          Pajak      penghasilan      tangguhan       diakui                Deferred income tax is provided in full, using
          sepenuhnya, dengan menggunakan metode                             the liability method, on temporary differences
          liabilitas untuk semua perbedaan temporer                         which arise from the difference between the tax
          yang berasal dari selisih antara dasar                            bases of assets and liabilities and their carrying
          pengenaan pajak aset dan liabilitas dengan nilai                  amounts       in the consolidated financial
          tercatatnya     pada      laporan        keuangan                 statements. However, deferred tax liabilities are
          konsolidasian.     Namun,      liabilitas    pajak                not recognised if they arise from the initial
          penghasilan tangguhan tidak diakui jika berasal                   recognition of goodwill. Deferred income tax is
          dari     pengakuan     awal    goodwill.     Pajak                also not accounted for if it arises from initial
          penghasilan      tangguhan         juga       tidak               recognition of an asset or liability in a
          diperhitungkan     jika    pajak       penghasilan                transaction other than a business combination
          tangguhan tersebut timbul dari pengakuan awal                     that at the time of the transaction affects neither
          aset atau pengakuan awal liabilitas dalam                         accounting nor taxable profit or loss.
          transaksi yang bukan kombinasi bisnis yang
          pada saat transaksi tidak mempengaruhi
          laba/rugi akuntansi maupun pajak.

          Pajak penghasilan tangguhan ditentukan                            Deferred income tax is determined using tax
          dengan menggunakan tarif pajak berdasarkan                        rates based on laws that have been enacted or
          undang-undang yang telah diberlakukan atau                        substantially enacted by the reporting date and
          secara substansi telah diberlakukan pada akhir                    are expected to apply when the related deferred
          periode laporan dan diharapkan berlaku pada                       tax asset is recognised or the deferred tax
          saat aset pajak tangguhan direalisasikan atau                     liability is settled.
          liabilitas pajak tangguhan diselesaikan.

          Aset pajak penghasilan tangguhan diakui hanya                     Deferred tax assets are recognised only to the
          jika besar kemungkinan jumlah penghasilan                         extent that it is probable that future taxable
          kena pajak dimasa depan akan memadai untuk                        profit will be available against which the
          dikompensasi dengan perbedaan temporer                            temporary differences can be utilised.
          yang masih dapat dimanfaatkan.

     t.   Laba per saham                                             t.     Earnings per share

          Laba per saham dasar dihitung dengan                              Basic earnings per share are computed by
          membagi laba bersih yang dapat diatribusikan                      dividing net earnings attributable to owners of
          kepada pemilik entitas induk dengan jumlah                        the Group by the weighted average number of
          rata-rata tertimbang saham yang beredar pada                      outstanding shares during the period.
          periode tersebut.

          Laba bersih per saham dilusian dihitung dengan                    Diluted earnings per share are computed by
          menyesuaikan jumlah rata-rata tertimbang                          adjusting the weighted average number of
          saham biasa yang beredar dengan dampak dari                       ordinary shares outstanding to assume
          semua efek berpotensi saham biasa yang dilutif                    conversion of all dilutive potential ordinary
          yang diterbitkan oleh Perusahaan.                                 shares issued by the Company.
Page 470
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/26 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN             AKUNTANSI       2.   MATERIAL       ACCOUNTING                      POLICY
     MATERIAL (lanjutan)                                         INFORMATION (continued)

     u.   Segmen pelaporan                                       u.   Segment reporting

          Grup     melakukan      segmentasi    pelaporan             The Group segments its financial reporting
          berdasarkan       informasi   keuangan     yang             based on the financial information used by the
          digunakan oleh pengambil keputusan operasi                  chief operating decision-maker in evaluating the
          utama dalam mengevaluasi kinerja segmen dan                 performance of segments and in the allocation
          menentukan alokasi sumber daya yang                         of resources. The Board of Directors is the
          dimilikinya. Direksi adalah pengambil keputusan             Group's chief operating decision-maker. The
          operasional Grup. Segmentasi berdasarkan                    segments are based on the nature of business.
          sifat usaha. Seluruh transaksi antar segmen                 All transactions between segments have been
          telah dieliminasi.                                          eliminated.

          Pendapatan, beban, hasil, aset dan liabilitas               Segment revenue, expenses, results, assets
          segmen termasuk item-item yang dapat                        and liabilities include items directly attributable
          diatribusikan langsung kepada suatu segmen                  to a segment, as well as those that can be
          serta item-item yang dapat dialokasikan dengan              allocated on a reasonable basis to that
          dasar yang sesuai dengan segmen tersebut.                   segment. They are determined before
          Segmen ditentukan sebelum saldo dan                         intragroup balances and intragroup transactions
          transaksi antar Grup dieliminasi sebagai bagian             are eliminated as part of the consolidation
          dari proses konsolidasi.                                    process.

     v.   Pengakuan pendapatan dan beban                         v.   Revenue and expenses recognition

          Pendapatan jasa perbaikan dan overhaul                      Revenue from repair and overhaul and line
          pesawat, dan jasa pemeliharaan diakui dalam                 maintenance services are recognised over time
          suatu periode waktu selama jasa tersebut                    during the period of rendering services. Group
          diberikan. Grup menggunakan metode output                   selects the output method to measure the
          untuk pengukuran kemajuan jasa untuk                        progress of the service to determine the amount
          menentukan jumlah pendapatan yang harus                     of revenue that should be recognised as the
          diakui ketika kewajiban pelaksanaan dipenuhi.               performance obligation is satisfied.

          Untuk kontrak harga tetap, pendapatan diakui                For fixed-price contracts, revenue is recognised
          berdasarkan servis aktual yang diberikan                    based on the actual service provided to the end
          hingga akhir periode pelaporan sebagai                      of the reporting period as a proportion of the
          proporsi dari total servis yang akan diberikan.             total services to be provided. This is determined
          Ini ditentukan berdasarkan biaya aktual yang                based on the actual costs relative to the total
          dihabiskan relatif terhadap total biaya yang                expected costs.
          diperkirakan.

          Estimasi pendapatan, biaya atau tingkat                     Estimates of revenues, costs or extent of
          perkembangan menuju penyelesaian direvisi                   progress toward completion are revised if
          jika keadaan berubah. Setiap kenaikan atau                  circumstances change. Any resulting increases
          penurunan estimasi pendapatan atau biaya                    or decreases in estimated revenues or costs
          tercermin dalam laporan laba rugi konsolidasian             are reflected in the consolidated statement of
          pada periode di mana keadaan yang                           profit or loss in the period in which the
          menyebabkan revisi tersebut diketahui oleh                  circumstances that give rise to the revision
          manajemen.                                                  become known by management.
Page 471
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/27 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


2.   INFORMASI        KEBIJAKAN             AKUNTANSI        2.   MATERIAL       ACCOUNTING                     POLICY
     MATERIAL (lanjutan)                                          INFORMATION (continued)

     v.   Pengakuan pendapatan dan beban (lanjutan)               v.   Revenue     and       expenses       recognition
                                                                       (continued)

          Pembayaran harga transaksi berbeda untuk                     Payment of the transaction price is different for
          setiap kontrak. Aset kontrak diakui ketika                   each contract. A contract asset is recognised
          imbalan yang dibayarkan oleh pelanggan                       when the consideration paid by the customer is
          kurang dari saldo kewajiban pelaksanaan yang                 less than the balance of performance obligation
          telah dipenuhi. Liabilitas kontrak diakui ketika             which has been satisfied. A contract liability is
          imbalan yang dibayarkan oleh pelanggan lebih                 recognised when the consideration paid by the
          dari saldo kewajiban pelaksanaan yang telah                  customer is more than the balance of
          dipenuhi.                                                    performance obligation which has been
                                                                       satisfied.

          Jika kontrak menyertakan biaya per jam,                      If the contract includes an hourly fee, revenue is
          pendapatan diakui sejumlah yang berhak                       recognised in the amount to which the Group
          ditagih oleh Grup. Pelanggan ditagih setiap                  has a right to invoice. Customers are invoiced
          bulan dan imbalannya dibayarkan saat ditagih.                on a monthly basis and consideration is
                                                                       receivable when invoiced.

          Grup mengakui pendapatan dari penjualan                      The Group recognises revenue from sale of
          barang pada suatu titik waktu di saat kendali                goods at point in time when control is
          atas barang diserahkan kepada pembeli. Grup                  transferred to the customers upon delivery of
          mengevaluasi penyerahan kendali melalui bukti                goods. The Group evaluates the transfer of
          penerimaan        pelanggan,      penyerahan                 control through evidence of the customer’s
          kepemilikan, hak atas pembayaran atas produk                 receipt and acceptance, transfer of title, the
          dan kemampuan pembeli untuk menentukan                       Group’s right to payment for those goods and
          penggunaan dari barang setelah diterima.                     the customer’s ability to direct use of those
                                                                       goods upon receipt.

          Grup mengakui pendapatan dari operasi                        The Group recognises revenue from other
          lainnya dari entitas anak atas kewajiban                     operations from subsidiaries for a performance
          pelaksanaan yang dipenuhi sepanjang waktu                    obligation satisfied overtime only if the Group
          hanya jika entitas dapat mengukur kemajuan                   can reasonably measure its progress towards
          secara wajar terhadap penyelesaian penuh atas                complete satisfaction of the performance
          kewajiban pelaksanaan. Dalam beberapa                        obligation. In some cases, the Group may not
          kasus, Grup mungkin tidak dapat mengukur                     be able to reasonably measure the outcome of
          hasil kewajiban pelaksanaan secara wajar,                    a performance obligation, but the Group
          tetapi Grup memperkirakan untuk memulihkan                   expects to recover the costs incurred in
          biaya yang terjadi dalam memenuhi kewajiban                  satisfying the performance obligation. In those
          pelaksanaan. Dalam kasus tersebut, Grup                      cases, the Group recognises revenue only to
          mengakui pendapatan hanya sejumlah biaya                     the extent of the costs incurred until such time
          yang terjadi sampai waktu tertentu di mana                   that it can reasonably measure the outcome of
          Grup dapat mengukur hasil kewajiban                          the performance obligation.
          pelaksanaan secara wajar.
Page 472
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/28 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                 3.   CRITICAL ACCOUNTING             ESTIMATES       AND
     YANG PENTING                                             JUDGEMENTS

     Estimasi dan pertimbangan terus dievaluasi               Estimates and judgements are continually evaluated
     berdasarkan pengalaman historis dan faktor-faktor        and are based on historical experience and other
     lain, termasuk ekspektasi peristiwa masa depan           factors, including expectations of future events that
     yang diyakini wajar berdasarkan kondisi yang ada.        are believed to be reasonable under the
                                                              circumstances.

     Penggunaan asumsi kelangsungan usaha                     The use of going concern assumption

     Dalam menerapkan kebijakan akuntansi Grup,               In the process of applying the Group’s accounting
     selain yang melibatkan estimasi, manajemen telah         policies, apart from those involving estimations,
     menyusun laporan keuangan konsolidasian dengan           management has prepared the consolidated
     asumsi bahwa Grup akan dapat mempertahankan              financial statements on the assumption that the
     kelangsungan usaha dalam operasinya di tahun             Group will be able to operate as a going concern in
     mendatang, yang merupakan pertimbangan penting           the coming year, which is a critical judgement that
     yang berdampak paling signifikan terhadap jumlah         has the most significant effect on the amounts
     yang diakui dalam laporan keuangan konsolidasian.        recognised in the consolidated financial statements.
     Penilaian asumsi kelangsungan usaha melibatkan           The assessment of the going concern assumption
     pengambilan keputusan oleh manajemen, pada titik         involves making a judgement by the management,
     waktu tertentu, tentang hasil masa depan dari            at a particular point of time, about the future
     peristiwa atau kondisi yang secara inheren tidak         outcome of events or conditions which are
     pasti. Manajemen Grup mempertimbangkan bahwa             inherently uncertain. The Group’s management
     Grup memiliki kemampuan untuk melanjutkan                considers that the Group has the capability to
     kelangsungan usahanya dan peristiwa atau kondisi         continue as a going concern and the major events
     utama, yang dapat menimbulkan risiko bisnis, yang        or conditions, which may give rise to business risks,
     secara individual atau kolektif dapat menimbulkan        that individually or collectively may cast significant
     keraguan signifikan atas asumsi kelangsungan             doubt upon the going concern assumption are set
     usaha sebagaimana dijelaskan dalam Catatan 35            out in Note 35 to the consolidated financial
     terhadap laporan keuangan konsolidasian.                 statements.

     Pengakuan pendapatan                                     Revenue recognition

     Grup mengakui pendapatan dari pekerjaan dalam            The Group recognises revenue from the project in
     progres     pengerjaan    berdasarkan     metode         progress based on the percentage of completion
     persentase penyelesaian. Tahap penyelesaian              method. The stage of completion of a contract is
     kontrak ditentukan menggunakan metode survei             determined using surveys of the work performed
     atas pekerjaan yang telah dilaksanakan. Asumsi           method. Critical assumption is required in
     penting diperlukan dalam menentukan tahapan              determining the stage of completion (percentage of
     penyelesaian (persentase penyelesaian) dan jumlah        completion) and the amount of estimated income. In
     estimasi pendapatan. Dalam membuat asumsi,               making assumptions, the Group evaluates them
     Grup melakukan evaluasi berdasarkan realisasi di         based on past realisation.
     waktu yang lampau.
Page 473
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/29 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                   (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                      3.   CRITICAL ACCOUNTING              ESTIMATES       AND
     YANG PENTING (lanjutan)                                       JUDGEMENTS (continued)

     Penurunan nilai piutang dan kontrak aset                      Impairment losses of receivables and contract
                                                                   assets
     Grup menghitung kerugian kredit ekspektasian                  The Group calculated the expected credit loss for all
     untuk seluruh piutang usaha dan aset kontrak.                 trade receivables and contract assets. For those
     Untuk piutang usaha dan aset kontrak yang secara              which were considered individually significant, the
     individual dianggap signifikan, Grup menghitung               Group calculated the individual expected credit loss
     kerugian kredit ekspektasian secara individual                by estimating the expected cash flows to be
     dengan mengestimasi arus kas ekspektasian yang                obtained from the settlement of the amounts due
     diperoleh dari pelunasan jumlah piutang usaha dan             from customers' trade receivables and contract
     aset kontrak dari pelanggan. Untuk piutang usaha              assets. For those which were not considered
     dan aset kontrak yang secara individual tidak                 individually significant, the Group assessed the
     dianggap signifikan, Grup menghitung kerugian                 collective expected credit loss using the risk
     kredit ekspektasian secara kolektif menggunakan               parameter modelling approach that incorporated key
     pendekatan      model    parameter     risiko   yang          parameters, including the probability of default, loss
     menggunakan        beberapa    parameter      utama,          given default, exposure at default and discount rate,
     termasuk, probability of default, loss given default,         after considering forward looking factors and other
     exposure at default dan tingkat diskonto, setelah             external information.
     memperhitungkan faktor masa depan dan informasi
     eksternal lainnya.

     Pertimbangan-pertimbangan signifikan             yang         The significant judgements involved in determining
     digunakan dalam menentukan kerugian             kredit        the expected credit loss included the following:
     ekspektasian meliputi:

     •   Model yang dikembangkan secara inheren                    •    The models are inherently complex, and
         kompleks,     dan    melibatkan     pertimbangan               management’s judgement is applied in
         manajemen        dalam       menentukan        dan             determining and preparing the individual and
         mempersiapkan penilaian individual dan kolektif                collective assessments used to calculate the
         untuk menghitung kerugian kredit ekspektasian.                 expected credit loss;
     •   Mengidentifikasi piutang usaha dan aset kontrak           •    Identification of trade receivables and contract
         yang     diberikan   yang     telah     mengalami              assets that have experienced a significant
         peningkatan risiko kredit secara signifikan; dan               increase in credit risk; and
     •   Asumsi-asumsi yang digunakan dalam model                  •    Assumptions used in the expected credit loss
         kerugian kredit ekspektasian seperti perkiraan                 models such as forward-looking macroeconomic
         faktor ekonomi makro masa depan dan rencana                    factors and customer payment plans
         pembayaran dari pelanggan.

     Jumlah tercatat bruto dari piutang usaha dan aset             Carrying amount of gross trade receivables and
     kontrak merupakan exposure at default yang                    contract assets is exposure at default that
     merepresentasikan estimasi eksposur jika terjadi              represents the estimated exposure in case of
     gagal bayar                                                   default.

     Grup menghitung probability of default historis               The Group calculated historical probability of default
     menggunakan metode roll-rate yang diperoleh dari              using a roll-rate method obtained through movement
     pergerakan piutang usaha dan aset kontrak Grup.               of the Group’s outstanding trade receivables and
                                                                   contract assets.
Page 474
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/30 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                    3.   CRITICAL ACCOUNTING              ESTIMATES       AND
     YANG PENTING (lanjutan)                                     JUDGEMENTS (continued)

     Penurunan nilai piutang dan kontrak aset                    Impairment losses of receivables and contract
     (lanjutan)                                                  assets (continued)

     Grup menyesuaikan kerugian kredit historis masa             The Group adjusts the historical credit loss
     lalu dengan informasi forward-looking. Sebagai              experience with forward-looking information. For
     contoh, jika prakiraan atas kondisi ekonomi                 instance, if economic conditions forecast are
     diperkirakan memburuk selama periode/tahun                  expected to deteriorate over the next period/year,
     depan, yang dapat menyebabkan meningkatnya                  which can lead to an increased number of defaults,
     jumlah gagal bayar, tingkat gagal bayar historis            the historical default rates are adjusted. At each
     disesuaikan. Pada setiap tanggal pelaporan, tingkat         reporting date, the historical observed default rates
     gagal bayar historis diperbaharui dan perubahan             are updated and changes in the forward-looking
     estimasi forward-looking dianalisis.                        estimates are analysed.

     Kerugian Grup jika terjadi gagal bayar adalah loss          The Group losses in case of default is loss given
     given default dengan parameter yang diestimasi              default with parameters that historically estimated
     secara historis berdasarkan tingkat pemulihan atas          based on the level of recovery of claims against
     klaim terhadap pelanggan yang gagal bayar.                  customer’s who default.

     Pemulihan dari aset pajak tangguhan                         Recoverability of deferred tax assets

     Grup melakukan penelaahan atas nilai tercatat aset          The Group reviews the carrying amounts of deferred
     pajak tangguhan pada setiap akhir periode                   tax assets at the end of each reporting period and
     pelaporan dan mengurangi nilai tersebut jika besar          reduces this amount if it is no longer probable that
     kemungkinan       aset   tersebut   tidak    dapat          assets will be realised in the future, whereas
     direalisasikan di masa depan, di mana penghasilan           sufficient taxable income will not be available to
     kena pajak Grup tidak memungkinkan untuk                    allow all or part of the deferred tax assets to be
     memanfaatkan seluruh atau sebagian dari aset                utilised. The Group’s assessment on the recognition
     pajak tangguhan tersebut. Penelaahan Grup atas              of deferred tax assets on deductible temporary
     pengakuan aset pajak tangguhan untuk perbedaan              differences is based on the amount and timing of
     temporer yang dapat dikurangkan didasarkan atas             forecasted taxable income of the subsequent
     jumlah dan jangka waktu proyeksi penghasilan                reporting periods.
     kena pajak untuk periode pelaporan berikutnya.

     Namun, tidak terdapat kepastian bahwa Grup dapat            However, there is no assurance that the Group will
     menghasilkan penghasilan kena pajak yang cukup              generate sufficient taxable income to allow all or part
     untuk memungkinkan penggunaan sebagian atau                 of the deferred tax assets to be utilised.
     seluruh bagian dari aset pajak tangguhan tersebut.

     Proyeksi ini disusun dengan mempertimbangkan                This forecast is prepared by considering the Group’s
     hasil pencapaian Grup di masa lalu dan ekspektasi           past results and future expectations on revenues
     pendapatan dan beban di masa depan,                         and expenses as well as assumptions of estimated
     sebagaimana juga dengan asumsi estimasi atas                future taxable income included in management’s
     penghasilan kena pajak di masa depan yang                   financial projections, which are subject to uncertainty
     termasuk di dalam proyeksi keuangan manajemen,              and can be affected by external factors such as
     yang memiliki ketidakpastian dan dapat dipengaruhi          macroeconomic conditions.
     oleh faktor-faktor eksternal seperti kondisi ekonomi
     makro.
Page 475
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/31 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                    3.   CRITICAL ACCOUNTING              ESTIMATES        AND
     YANG PENTING (lanjutan)                                     JUDGEMENTS (continued)

     Ketidakpastian kewajiban perpajakan                         Uncertainty of tax exposures

     Dalam situasi tertentu, Grup tidak dapat                    In certain circumstances, the Group may not be able
     menentukan secara pasti jumlah utang pajak kini             to determine the exact amount of its current or
     atau masa mendatang atau jumlah klaim restitusi             future tax liabilities or the recoverable amount of the
     pajak yang dapat terpulihkan karena proses                  claim for tax refund due to ongoing investigations by
     pemeriksaan yang masih berlangsung dengan                   the taxation authority. Uncertainties exist with
     otoritas perpajakan. Ketidakpastian timbul terkait          respect to the interpretation of complex tax
     dengan interpretasi dari peraturan perpajakan yang          regulations and the amount and timing of future
     kompleks dan jumlah dan waktu dari penghasilan              taxable income. In determining the amount to be
     kena pajak di masa depan. Dalam menentukan                  recognised in respect of an uncertain tax liability or
     jumlah yang harus diakui terkait dengan utang pajak         the recoverable amount of the claim for tax refund
     yang tidak pasti atau klaim restitusi pajak yang            related to uncertain tax positions, the Group applies
     dapat terpulihkan terkait dengan ketidakpastian             similar considerations as it would use in determining
     posisi perpajakan, Grup menerapkan pertimbangan             the amount of a provision to be recognised in
     yang sama yang akan digunakan dalam                         accordance with PSAK 57, “Provisions, Contingent
     menentukan jumlah provisi yang harus diakui sesuai          Liabilities and Contingent Assets” and PSAK 46,
     dengan PSAK 57, “Provisi, Liabilitas Kontinjensi,           “Income Taxes”. The Group makes an analysis of all
     dan Aset Kontinjensi” dan PSAK 46, “Pajak                   uncertain tax positions to determine if a tax liability
     Penghasilan”. Grup membuat analisis untuk semua             for uncertain tax benefit or a provision for
     ketidakpastian posisi perpajakan untuk menentukan           unrecoverable claim for tax refund should be
     jika utang pajak atas manfaat pajak yang tidak pasti        recognised.
     atau cadangan atas klaim restitusi pajak yang tidak
     dapat terpulihkan harus diakui.

     Cadangan penurunan nilai persediaan                         Provision for impairment of inventories

     Grup melakukan pencadangan penurunan nilai                  The Group provides provision of impairment of
     persediaan berdasarkan estimasi persediaan yang             inventories based on estimated future usage and
     akan digunakan pada masa datang dan kondisi dari            the condition of the inventories. Uncertainty
     persediaan. Ketidakpastian terkait dengan faktor-           associated with these factors may result in the
     faktor ini dapat menyebabkan nilai realisasi yang           realisable amount being different from the reported
     berbeda dengan nilai tercatat dari persediaan.              carrying amount of the inventories.

     Taksiran masa manfaat aset tetap                            Estimated useful lives of fixed assets

     Grup mengestimasi masa manfaat dari aset tetap              The Group estimates the useful lives of its property
     berdasarkan ekspektasi utilisasi dari aset dengan           and equipment based on expected asset utilisation
     didukung rencana dan strategi usaha yang juga               as anchored on business plans and strategies that
     mempertimbangkan perkembangan teknologi di                  also consider expected future technological
     masa depan dan perilaku pasar. Estimasi masa                developments and market behaviour. The
     manfaat aset tetap didasarkan pada penelaahan               estimation of the useful lives of property and
     Grup secara kolektif terhadap praktik industri,             equipment is based on the Group’s collective
     evaluasi teknis internal dan pengalaman untuk aset          assessment of industry practice, internal technical
     yang setara.                                                evaluation and experience with similar assets.

     Estimasi masa manfaat ditelaah paling sedikit               The estimated useful lives are reviewed at least
     setiap akhir tahun pelaporan dan diperbarui jika            each financial year end and are updated if
     ekspektasi berbeda dari estimasi sebelumnya                 expectations differ from previous estimates due to
     dikarenakan pemakaian dan kerusakan fisik,                  physical wear and tear, technical or commercial
     keusangan secara teknis atau komersial dan                  obsolescence and legal or other limitations on the
     hukum atau pembatasan lain penggunaan aset.                 use of the assets. It is possible, however, that future
     Namun, ada kemungkinan, hasil operasi di masa               results of operations could be materially affected by
     depan dapat dipengaruhi secara material oleh                changes in the estimates brought about by changes
     perubahan-perubahan     dalam   estimasi   yang             in the factors mentioned above.
     diakibatkan oleh perubahan faktor-faktor yang
     disebutkan di atas.
Page 476
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/32 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                   3.   CRITICAL ACCOUNTING               ESTIMATES        AND
     YANG PENTING (lanjutan)                                    JUDGEMENTS (continued)

     Taksiran masa manfaat aset tetap (lanjutan)                Estimated useful lives of fixed assets (continued)

     Jumlah dan saat beban dicatat setiap periode akan          The amounts and timing of recorded expenses for
     terpengaruh oleh perubahan atas faktor-faktor dan          any period are affected by changes in these factors
     kondisi tersebut. Pengurangan dalam estimasi               and circumstances. A reduction in the estimated
     masa manfaat dari aset tetap Grup akan                     useful lives of the Group’s fixed assets increases
     meningkatkan beban usaha dan menurunkan aset               the recorded operating expenses and decreases
     tidak lancar yang tercatat. Penambahan dalam               recorded non-current assets. An extension in the
     estimasi masa manfaat aset tetap Grup                      estimated useful lives of the Group’s property and
     menurunkan beban usaha dan meningkatkan aset               equipment decreases the recorded operating
     tidak lancar yang tercatat.                                expenses and increases non-current assets.

     Nilai wajar bangunan dan prasarana                         Fair value of building and improvements

     Nilai wajar dari bangunan dan prasarana ditentukan         The fair value of buildings and improvements is
     menggunakan teknik valuasi yang dilakukan oleh             determined by using valuation techniques which
     penilai independen profesional yang memiliki               were valued by independent professionally qualified
     kualifikasi yang relevan dan memiliki pengalaman           valuers who hold a recognised relevant professional
     yang berhubungan dengan aset tetap yang akan               qualification and have recent experience in the
     dinilai. Setiap perubahan dalam asumsi penilaian           locations and fixed assets valued. Any change in
     yang dilakukan oleh penilai independen eksternal           assumption and valuation performed by an external
     akan berdampak pada nilai tercatat aset tetap.             independent appraiser will affect the carrying
     Informasi tambahan diungkapkan di Catatan 9.               amount of the Group’s assets. Additional information
                                                                is disclosed in Note 9.

     Penurunan nilai aset non keuangan                          Impairment of non-financial assets

     Aset tetap dan aset tidak lancar lainnya ditelaah          Fixed assets and other non-current assets are
     untuk penurunan nilai apabila terdapat kejadian            reviewed for impairment whenever events or
     atau perubahan keadaan yang mengindikasikan                changes in circumstances indicate that the carrying
     bahwa jumlah tercatat aset melebihi nilai yang             amount of the asset exceeds its recoverable
     dapat diperoleh kembali. Nilai yang dapat diperoleh        amount. The recoverable amount of an asset or
     kembali suatu aset atau unit penghasil kas                 cash generating unit is determined based on the
     ditentukan berdasarkan yang lebih tinggi antara            higher of its fair value less costs to sell and its value
     harga jual bersih dan nilai pakai, dihitung                in use, calculated on the basis of management’s
     berdasarkan asumsi dan estimasi manajemen.                 assumptions and estimates.

     Asumsi penting untuk penurunan nilai aset non              Other key assumptions for the impairment of non-
     keuangan sebagian didasarkan pada kondisi pasar            financial assets are based in part on current market
     saat ini. Rencana strategis mencakup perkiraan             conditions. Strategic plans include estimations of the
     dampak perubahan iklim bisnis di masa depan                future impact of change of business climates on the
     terhadap Grup sejauh ini dapat diperkirakan                Group to the extent these can be reliably estimated.
     dengan andal.

     Asumsi utama yang digunakan dalam nilai pakai              The key assumptions used in the value-in-use
     (“VIU”),    termasuk    estimasi   pertumbuhan             (“VIU”) calculations, included estimation of revenue
     pendapatan di tahun mendatang, belanja modal,              growth in the upcoming year, the capital
     tingkat pertumbuhan jangka panjang yang                    expenditure, the long-term growth rate used to
     digunakan untuk mengestimasi nilai terminal dan            estimate the terminal value and the pre-tax discount
     tingkat diskonto sebelum pajak yang digunakan              rate used in the model.
     dalam model.
Page 477
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/33 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                   3.   CRITICAL ACCOUNTING             ESTIMATES       AND
     YANG PENTING (lanjutan)                                    JUDGEMENTS (continued)

     Penurunan nilai aset non keuangan (lanjutan)               Impairment of non-financial assets (continued)

     Pada setiap akhir periode pelaporan, untuk aset            At the end of each reporting period, assets other
     selain goodwill dinilai apakah terdapat indikasi           than goodwill are assessed whether there is any
     bahwa kerugian penurunan nilai yang diakui pada            indication that an impairment loss recognised in
     periode sebelumnya mungkin tidak ada lagi atau             prior periods may no longer exist or may have
     mungkin telah berkurang. Grup secara berkala               decreased. The Group periodically assesses if there
     menilai apakah terdapat indikator pembalikan               are any indicators for reversal of previously
     penurunan nilai yang diakui sebelumnya mungkin             impairment loss recognised may no longer exist or
     tidak ada lagi atau mungkin telah menurun dengan           may have decreased by considering the internal and
     mempertimbangkan faktor internal dan eksternal.            external factors. Where indicators are identified, the
     Ketika terdapat indikator, jumlah terpulihkan atas         recoverable amount of the Cash Generating Unit
     Unit Penghasil Kas (“UPK”), khususnya atas jasa            (“CGU”), specifically for aircraft maintenance
     pemeliharaan pesawat terbang, perlu ditentukan.            services, needs to be determined.

     Penilaian terhadap jumlah terpulihkan UPK                  An assessment of the recoverable amount of the
     dilakukan berdasarkan proyeksi arus kas yang               CGU was performed based on the cash flow
     disusun dengan mempertimbangkan kondisi terkini.           projection prepared taking into account current
     Manajemen dibantu oleh penilai independen                  conditions. Management was assisted by an
     eksternal untuk memperkirakan jumlah terpulihkan           external independent valuer to estimate the
     UPK berdasarkan nilai pakai (“VIU”), dengan                recoverable amount of the CGU based on its Value
     menggunakan model arus kas yang didiskontokan              in Use (“VIU”), using a discounted cash flow model
     berdasarkan kondisi pasar saat ini dan proyeksinya.        based on current and projected market conditions.

     Pembalikan rugi penurunan nilai tersebut diakui            The reversal should not result in the carrying
     segera dalam laba rugi. Pembalikan tersebut tidak          amount of an asset exceeding what the depreciated
     boleh mengakibatkan nilai tercatat aset melebihi           cost would have been had the impairment not been
     biaya perolehan disusutkan sebelum adanya                  recognised at the date on which the impairment was
     pengakuan     penurunan   nilai  pada    tanggal           reversed.
     pembalikan dilakukan.

     Imbalan kerja                                              Employee benefits

     Nilai kini kewajiban imbalan kerja tergantung pada         The present value of the employee benefits
     sejumlah     faktor   yang    ditentukan    dengan         obligation depends on a number of factors that are
     menggunakan sejumlah asumsi aktuaria. Asumsi               determined on a number of actuarial assumptions.
     yang digunakan dalam menentukan biaya bersih               The assumptions used in determining the net cost
     untuk pensiun termasuk tingkat pengembalian                for pensions include the expected long-term rate of
     jangka panjang yang diharapkan atas investasi              return on investment of the defined contribution
     dana program pensiun iuran pasti dan tingkat               pension fund and the relevant discount rate. Any
     diskonto yang relevan. Setiap perubahan dalam              changes in these assumptions will impact the
     asumsi ini akan berdampak pada nilai tercatat              carrying amount of the employee benefits
     kewajiban imbalan kerja.                                   obligation.

     Asumsi penting lainnya untuk kewajiban imbalan             Other key assumptions for the employee benefits
     kerja sebagian didasarkan pada kondisi pasar saat          obligation are based in part on current market
     ini.                                                       conditions.
Page 478
                                PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                     DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/34 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                   3.   CRITICAL ACCOUNTING            ESTIMATES       AND
     YANG PENTING (lanjutan)                                    JUDGEMENTS (continued)

     Imbalan kerja (lanjutan)                                   Employee benefits (continued)

     Grup menentukan tingkat diskonto dan kenaikan              The Group determines the appropriate discount
     gaji masa datang yang sesuai pada akhir periode            rate and future salary increase at the end of each
     pelaporan. Tingkat diskonto adalah tingkat suku            reporting period. The discount rate is interest rate
     bunga yang harus digunakan untuk menentukan                that should be used to determine the present value
     nilai kini atas estimasi arus kas keluar masa depan        of estimated future cash outflows expected to be
     yang diharapkan untuk menyelesaikan kewajiban              required to settle the pension obligations. In
     pensiun. Dalam menentukan tingkat suku bunga               determining the appropriate discount rate, the
     yang sesuai, Grup mempertimbangkan tingkat suku            Group considers the interest rates of government
     bunga obligasi pemerintah yang didenominasikan             bonds that are denominated in the currency in
     dalam mata uang imbalan akan dibayar dan                   which the benefits will be paid and that have terms
     memiliki jangka waktu yang serupa dengan jangka            to maturity approximating the terms of the related
     waktu kewajiban pensiun yang terkait.                      pension obligation.

     Untuk tingkat kenaikan gaji masa datang, Grup              For the rate of future salary increases, the Group
     mengumpulkan data historis mengenai perubahan              collects all historical data relating to changes in
     gaji dasar pekerja dan menyesuaikannya dengan              base salaries and adjusts it for future business
     perencanaan bisnis masa datang.                            plans.

     Asumsi kunci kewajiban pensiun lainnya sebagian            Other key assumptions for pension obligations are
     ditentukan berdasarkan kondisi pasar saat ini.             based in part on current market conditions.
     Informasi tambahan diungkapkan pada Catatan 15.            Additional information is disclosed in Note 15.
Page 479
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/35 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


3.   ESTIMASI DAN PERTIMBANGAN AKUNTANSI                     3.   CRITICAL ACCOUNTING              ESTIMATES       AND
     YANG PENTING (lanjutan)                                      JUDGEMENTS (continued)

     Penentuan umur sewa                                          Determining lease term

     Dalam menentukan umur sewa, manajemen                        In determining the lease term, management
     mempertimbangkan beberapa fakta dan keadaan                  considers all facts and circumstances that create an
     yang    memberikan     insentif    ekonomi  untuk            economic incentive to exercise an extension option,
     mengambil opsi perpanjangan, atau tidak                      or not exercise a termination option. Extension
     mengambil opsi pembatalan. Opsi perpanjangan                 options (or periods after termination options) are
     (atau periode setelah opsi pembatalan) hanya                 only included in the lease term if the lease is
     dimasukkan dalam masa sewa jika cukup pasti                  reasonably certain to be extended (or not
     untuk diperpanjang (atau tidak dibatalkan).                  terminated).

     Untuk sewa bangunan dan peralatan, faktor-faktor             For leases of properties and equipment, the
     berikut biasanya yang paling relevan:                        following factors are normally the most relevant:
     - Jika ada penalti signifikan untuk membatalkan              - If there are significant penalties to terminate (or
        (atau untuk memperpanjang), Grup yakin untuk                  not extend), the Group is typically reasonably
        memperpanjang (atau tidak membatalkan).                       certain to extend (or not terminate).
     - Jika     ada    leasehold    improvement     yang           - If any leasehold improvements are expected to
        diperkirakan memiliki nilai sisa yang signifikan,              have a significant remaining value, the Group is
        Grup yakin untuk memperpanjang (atau tidak                     typically reasonably certain to extend (or not
        membatalkan).                                                  terminate).
     - Selain dari itu, Grup mempertimbangkan faktor               - Otherwise, the Group considers other factors
        mencakup sejarah durasi sewa dan biaya serta                   including historical lease durations and the costs
        halangan bisnis untuk menggantikan aset sewa.                  and business disruption required to replace the
                                                                       leased asset.

     Mayoritas opsi perpanjangan untuk sewa tanah,                Most extension options in land, offices and vehicles
     kantor dan kendaraan tidak dimasukkan ke dalam               leases have not been included in the lease liability,
     liabilitas sewa, karena Grup dapat mengganti aset            because the Group could replace the assets without
     tanpa biaya signifikan atau halangan bisnis.                 significant cost or business disruption.

     Umur sewa dinilai kembali ketika opsi sebenarnya             The lease term is reassessed if an option is actually
     diambil (atau tidak diambil) atau Grup menjadi               exercised (or not exercised) or the Group becomes
     berkewajiban untuk mengambil (atau tidak                     obliged to exercise (or not exercise) it. The
     mengambil) opsi tersebut. Penilaian kepastian yang           assessment of reasonable certainty is only revised if
     wajar hanya direvisi ketika peristiwa signifikan atau        a significant event or a significant change in
     perubahan signifikan terjadi, yang mempengaruhi              circumstances     occurs,    which    affects    this
     penilaian ini, dan hal tersebut dalam pengendalian           assessment, and that is within the control of the
     penyewa.                                                     lessee.
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                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/36 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


4.   KAS DAN SETARA KAS                                   4.   CASH AND CASH EQUIVALENTS

                                           2023                2022

     Kas                                       184,180            163,698                           Cash on hand

     Kas di bank                                                                                   Cash in banks
     Pihak berelasi (Catatan 28):                                                       Related parties (Note 28):
       Rupiah                                7,127,245          1,535,722                               Rupiah
       Dolar AS                              9,204,187          1,493,600                           US Dollars
       Euro                                        395                467                                 Euro

                                            16,331,827          3,029,789

     Pihak ketiga:                                                                                  Third parties:
       Rupiah                                                                                          Rupiah
         PT Bank Maybank                                                                  PT Bank Maybank
           Syariah Indonesia                                                            Syariah Indonesia
           (“Maybank Syariah”)                 343,982             54,745             (“Maybank Syariah”)
         Lain-lain (masing-masing                                                                    Others
           di bawah AS$100.000)              1,329,990             38,363        (each below US$100,000)

                                             1,673,972             93,108

       Dolar AS                                                                                     US Dollars
         PT Bank CTBC Indonesia                                                   PT Bank CTBC Indonesia
           (“CTBC”)                             82,683            239,036                        (“CTBC”)
         PT Bank Maybank Indonesia                                              PT Bank Maybank Indonesia
           Tbk (“Maybank”)                     145,652            145,566                 Tbk (“Maybank”)
         Citibank N.A (“Citibank”)              52,663             87,016           Citibank N.A (“Citibank”)

           PT Bank CIMB Niaga                                                          PT Bank CIMB Niaga
             Syariah ("CIMB - Syariah")           5,211               5,281     Syariah ("CIMB - Syariah")
           Lain-lain (masing-masing                                                                  Others
             di bawah AS$100.000)            1,355,253            114,373       (each below US$100,000)

                                             1,641,462            591,272

     Deposito berjangka                                                                            Time deposits
     Pihak berelasi (Catatan 28):                                                       Related parties (Note 28):
       Rupiah                                  849,592            855,146                               Rupiah
       Dolar AS                                370,000            370,000                          US Dollars

                                             1,219,592          1,225,146

                                            21,051,033          5,103,013
Page 481
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/37 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


4.   KAS DAN SETARA KAS (lanjutan)                        4.     CASH AND CASH EQUIVALENTS (continued)

     Informasi lainnya sehubungan dengan kas dan                 Other information relating to cash and cash
     setara kas adalah sebagai berikut:                          equivalents is as follows:

     • Tingkat suku bunga kontraktual untuk kas pada             •    Contractual interest rates on cash in banks and
       bank dan deposito bank jangka pendek adalah                    short-term bank deposits are as follows:
       sebagai berikut:

                                           2023                  2022

        Dolar AS                        0% - 0.15%             0% - 1.75%                                   US Dollars
        Rupiah                          0% - 3.00%             0% - 2.25%                                      Rupiah

     • Kas dan setara kas berdasarkan mata uang:                 •     Cash and cash equivalents by currency:

                                           2023                  2022

        Rupiah                               9,834,989                2,647,674                                Rupiah
        Dolar AS                            11,215,649                2,454,872                             US Dollars
        Euro                                       395                      467                                  Euro

                                            21,051,033                5,103,013


5.   PIUTANG USAHA                                        5.     TRADE RECEIVABLES

                                           2023                  2022

     Pihak berelasi                         92,411,133               63,397,525                         Related parties
     Provisi atas penurunan nilai -                                                          Provision for impairment -
       pihak berelasi                      (31,059,032)          (36,530,685)                        related parties

     Piutang usaha - pihak berelasi,                                                                Trade receivables -
       bersih (Catatan 28)                  61,352,101               26,866,840        related parties, net (Note 28)
     Piutang usaha - pihak berelasi,                                                Trade receivables - related parties,
       bersih bagian lancar                (46,302,407)          (24,549,797)                    net current portion

     Piutang usaha - pihak berelasi,                                                Trade receivables - related parties,
       bersih bagian tidak lancar           15,049,694                2,317,043              net non-current portion

     Pihak ketiga                                                                                          Third parties
       PT Sriwijaya Air (“Sriwijaya”)       40,111,835               39,308,701         PT Sriwijaya Air (“Sriwijaya”)
       PT Nam Air                            8,690,521                8,516,068                          PT Nam Air
       PT Lion Mentari Airlines              5,561,094                5,430,888             PT Lion Mentari Airlines
       CFM International Inc.                  243,735                  344,049               CFM International Inc.
       Lain-lain (masing-masing                                                                  Others (each below
         dibawah AS$3.000.000)              30,153,165               29,767,842                    US$3,000,000)

                                            84,760,350               83,367,548
     Provisi atas penurunan nilai -                                                          Provision for impairment -
       pihak ketiga                        (74,065,519)          (69,817,263)                            third parties

     Piutang usaha - pihak ketiga,                                                    Trade receivables - third parties,
       bersih, bagian lancar                10,694,831               13,550,285                 net, current portion

     Piutang usaha, bersih                  72,046,932               40,417,125                  Trade receivables, net
Page 482
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
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                                            Lampiran 5/38 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


5.   PIUTANG USAHA (lanjutan)                             5.   TRADE RECEIVABLES (continued)

     Piutang usaha Grup berdasarkan mata uang adalah           The Group’s trade receivables are denominated in
     sebagai berikut:                                          the following currencies:

                                           2023                 2022

     Rupiah                               152,161,042          122,312,263                                  Rupiah
     Dolar AS                              25,010,441           24,452,810                               US Dollars

                                           177,171,483          146,765,073
     Provisi atas penurunan nilai         (105,124,551)        (106,347,948)               Provision for impairment

                                            72,046,932          40,417,125

     Umur piutang usaha adalah sebagai berikut:                The ageing of trade receivables is as follows:

                                           2023                 2022

     Lancar                                 27,951,647          20,263,938                                  Current
     Jatuh tempo:                                                                                         Overdue:
       1 - 60 hari                         22,098,978           12,307,693                           1 - 60 days
       61 - 180 hari                       10,790,878            3,313,617                         61 - 180 days
       181 - 360 hari                       7,866,024            1,594,189                        181 - 360 days
       Lebih dari 360 hari                108,463,956          109,285,636                        Over 360 days

                                           177,171,483          146,765,073
     Provisi atas penurunan nilai         (105,124,551)        (106,347,948)               Provision for impairment

                                            72,046,932          40,417,125

     Pada tanggal 31 Desember 2023, piutang usaha              As at 31 December 2023, trade receivables
     sebesar AS$149,22 juta (31 Desember 2022:                 amounting to US$149.22 million (31 December
     AS$126,50 juta) telah lewat jatuh tempo dan               2022: US$126.50 million) were past due and
     mengalami penurunan nilai.                                impaired.

     Eksposur maksimum risiko kredit pada tanggal              The maximum exposure to credit risk at the
     pelaporan adalah sebesar nilai tercatat masing-           reporting date is the carrying value of each class of
     masing kategori piutang yang disebutkan diatas.           receivable mentioned above.

     Mutasi provisi penurunan nilai piutang usaha Grup         Movements in the Group’s provision for impairment
     adalah sebagai berikut:                                   of trade receivables are as follows:

                                           2023                 2022

     Pada awal tahun                      106,347,948          142,153,961                     At beginning of year
     Penambahan kerugian                                                                                Addition for
       penurunan nilai                       2,514,265          13,026,123                    impairment losses
     Pemulihan kerugian                                                                   Reversal from impairment
       penurunan nilai                      (3,737,662)         (43,104,930)                              losses
     Penghapusan                                     -           (5,727,206)                               Write-off

     Pada akhir tahun                     105,124,551          106,347,948                            At end of year
Page 483
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
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                                             Lampiran 5/39 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


5.   PIUTANG USAHA (lanjutan)                               5.   TRADE RECEIVABLES (continued)

     Pada tanggal 31 Desember 2023, piutang usaha                As at 31 December 2023, the Company’s non-
     bagian jangka panjang Perusahaan sebagian besar             current portion of trade receivables is mainly
     merupakan hasil dari restrukturisasi piutang dengan         resulting from restructuring receivables with Garuda,
     Garuda, Citilink, dan Sriwijaya.                            Citilink, and Sriwijaya.

     Sesuai dengan berita acara rapat verifikasi tagihan         In accordance with minutes of creditors billing
     kreditur PT Garuda Indonesia (Persero) Tbk (dalam           verification of PT Garuda Indonesia (Persero) Tbk
     proses Penundaan Kewajiban Pembayaran Utang                 (in suspension of debt payment obligations
     (“PKPU”)), Perkara No.425/Pdt.Sus-PKPU/2021/PN/             (“PKPU”)) case No.425/Pdt.Sus-PKPU/2021/PN/
     Niaga.Jkt.Pst tanggal 24 Februari 2022, Grup dan            Niaga.Jkt.Pst dated 24 February 2022, the Group
     Garuda sepakat atas restrukturisasi piutang usaha           and Garuda agreed to restructure the trade
     senilai Rp293,54 miliar (setara dengan AS$17,41             receivables amounting to Rp293.54 billions
     juta) dan AS$2,19 juta dengan jangka waktu                  (equivalents to US$17.41 million) and US$2.19
     pembayaran 22 tahun dan tingkat suku bunga 0,1%             million with payment terms of 22 years and interest
     per tahun.                                                  rate 0.1% per annum.

     Pada tanggal 14 Juni 2022, sesuai dengan berita             On 14 June 2022, in accordance with minutes No:
     acara No: DT/BA-004/22, Grup dan Garuda                     DT/BA-004/22, the Group and Garuda entered an
     menandatangani perjanjian pemindahan saldo                  agreement to transfer the Group’s receivables from
     piutang CFM International (“CFMI”) ke dalam bagian          CFM International (“CFMI”) as part of Garuda’s
     saldo piutang Garuda sebesar Rp74,70 miliar                 receivables amounting to Rp74.70 billions
     (setara dengan AS$4,75 juta). Sehingga total                (equivalent to US$4.75 million). The total of trade
     piutang usaha sebesar AS$24,35 juta.                        receivables amounting US$24.35 million.

     Jumlah provisi atas piutang usaha bagian tidak              Total provision of trade receivables non-current
     lancar adalah senilai AS$22,03 juta. Sehingga, nilai        portion is US$22.03 million. Therefore, trade
     piutang bagian tidak lancar setelah provisi pada 31         receivables non-current portion as at 31 December
     Desember 2022 adalah AS$2,32 juta. Pada 31                  2022 amounting US$2.32 million. On 31 December
     Desember 2023, nilai piutang bagian tidak lancar            2023 trade receivables non-current portion
     setelah provisi adalah AS$2,70 juta.                        amounting to US$2,70 million.

     Sesuai dengan Putusan Pengadilan Niaga pada                 In accordance with Putusan Pengadilan Niaga of
     Pengadilan Negeri Jakarta Pusat No. 247-Pdt.Sus-            Pengadilan Negeri Jakarta Pusat No. 247-Pdt.Sus-
     PKPU-2022-PN. Niaga.jkt.Pst tanggal 20 Juli 2023,           PKPU-2022-PN.Niaga.jkt.Pst dated 20 July 2023,
     Grup dan Sriwijaya sepakat atas restrukturisasi             the Group and Sriwijaya agreed to restructure the
     piutang usaha dengan saldo Rp652,43 miliar (setara          trade receivables balance amounted to Rp652.43
     dengan AS$48,80 juta) dengan jangka waktu                   billions (equivalents to US$48.80 million) with
     pembayaran 20 tahun dan tanpa bunga.                        payment terms of 20 years and with no interest.


6.   ASET KONTRAK                                           6.   CONTRACT ASSETS

     Rincian jumlah aset kontrak dari pelanggan adalah           Details of contract assets amounts from customers
     sebagai berikut:                                            are as follow:

                                            2023                 2022

     Pihak berelasi (Catatan 28)             44,310,959           53,595,725                Related parties (Note 28)
     Provisi atas penurunan nilai            (4,572,434)          (4,343,576)               Provision for impairment

                                             39,738,525           49,252,149

     Pihak ketiga                            75,784,890           75,270,659                             Third parties
     Provisi atas penurunan nilai           (64,818,786)         (64,215,169)                Provision for impairment

                                             10,966,104           11,055,490

                                             50,704,629           60,307,639
Page 484
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
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                                            Lampiran 5/40 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


6.   ASET KONTRAK (lanjutan)                               6.    CONTRACT ASSETS (continued)

     Manajemen berpendapat bahwa cadangan atas                  Management believes that the allowance for
     kerugian kredit ekspektasian atas aset kontrak             expected credit losses of contract assets is sufficient
     adalah cukup untuk menutupi penurunan nilai dari           to cover the impairment of contract assets.
     aset kontrak.

     Mutasi provisi penurunan nilai aset kontrak Grup           Movements in the Group’s provision for impairment
     adalah sebagai berikut:                                    of contract assets are as follows:

                                           2023                 2022

     Pada awal tahun                        68,558,745           73,243,157                      At beginning of year
     Penambahan kerugian                                                                                 Addition for
       penurunan nilai                       5,171,693            5,792,790                     impairment losses
     Pemulihan kerugian                                                                                Reversal from
       penurunan nilai                      (4,339,218)         (10,477,202)                    impairment losses

     Pada akhir tahun                       69,391,220           68,558,745                             At end of year


7.   PERSEDIAAN                                           7.    INVENTORIES

     Akun ini merupakan suku cadang pesawat dengan              This account represents aircraft spare parts with
     rincian sebagai berikut:                                   details as follows:

                                           2023                 2022

     Suku cadang expendable                                                              Expendable spare parts and
       dan supplies                         90,724,883           73,361,102                             supplies
     Suku cadang rotable                                                                    Rotable spare parts and
       dan repairable                       40,020,577           34,593,960                           repairable

                                          130,745,460           107,955,062

     Provisi atas penurunan nilai          (56,726,881)         (51,436,629)                 Provision for impairment

                                            74,018,579           56,518,433
Page 485
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/41 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


7.   PERSEDIAAN (lanjutan)                                 7.   INVENTORIES (continued)

     Mutasi dari provisi atas penurunan nilai persediaan        Movement of provision for impairment of inventories
     adalah sebagai berikut:                                    is as follows:

                                            2023                2022

     Saldo awal                             51,436,629           46,937,628                       Beginning balance
     Penambahan                              5,290,252            4,499,001                                 Addition

     Saldo akhir                            56,726,881           51,436,629                          Ending balance

     Pada tanggal 31 Desember 2023 dan 2022,                    As at 31 December 2023 and 2022, management
     manajemen melakukan pengujian atas penurunan               performed an impairment assessment on inventory
     nilai persediaan dengan mempertimbangkan                   value considering obsolete and slow moving items
     persediaan usang dan bergerak lambat disamping             besides net realisable value of inventories.
     nilai realisasi neto. Manajemen berpendapat bahwa          Management believes that the allowance for decline
     penyisihan penurunan nilai persediaan tersebut             in inventory value is adequate to cover losses on
     adalah cukup untuk menutup kerugian yang timbul            inventory value.
     dari penurunan nilai persediaan.

     Persediaan      Grup      telah     diasuransikan          The inventories of the Group were insured with
     kepada PT Asuransi Tugu Pratama Indonesia,                 PT Asuransi Tugu Pratama Indonesia, a
     entitas yang berelasi dengan pemerintah, terhadap          government-related entity, against fire, theft and
     risiko kebakaran, pencurian, dan risiko lainnya            other possible risks under pool policies with a total
     berdasarkan suatu paket polis dengan nilai                 sum insured amounting to US$117.03 million (31
     pertanggungan sebesar AS$117,03 juta (31                   December 2022: US$103.11 million). Management
     Desember 2022: AS$103,11 juta). Manajemen                  believes that the insurance coverage is adequate to
     berpendapat bahwa nilai pertanggungan tersebut             cover possible losses on the inventories insured.
     cukup untuk menutup kemungkinan kerugian atas
     persediaan yang dipertanggungkan.


8.   UANG MUKA DAN BEBAN DIBAYAR DIMUKA                    8.   ADVANCES AND PREPAID EXPENSES

                                            2023                2022

     Uang muka pembelian                    38,052,543           33,495,147                 Advances for purchases
     Uang muka pegawai                       2,664,050            1,791,585                 Advances for employee
     Lain-lain (masing-
       masing di bawah                                                                           Others (each below
       AS$1.000.000)                           401,325                 3,978                      US$1,000,000)

                                            41,117,918           35,290,710
     Bagian lancar                         (40,704,250)         (34,598,310)                         Current portion

     Bagian tidak lancar                       413,668              692,400                      Non-current portion

     Uang muka pembelian terutama merupakan                     Advances for purchases mainly represent payments
     pembayaran kepada subkontraktor dan pemasok                to subcontractors and suppliers in respect of
     terkait dengan pembelian suku cadang pesawat,              purchased of aircraft spareparts, installation and
     jasa instalasi dan pemeliharaan kabin, mesin dan           maintenance of cabin refurbishment, engine and
     pemeliharaan rutin.                                        general maintenance contracts.
Page 486
                                        PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
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                                                                   Lampiran 5/42 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                                            (Expressed in US Dollars, unless otherwise stated)


9.   ASET TETAP                                                                       9.     FIXED ASSETS
                                                                                     2023
                                 Saldo awal/                                                                                     Saldo akhir/
                                 Beginning         Penambahan/      Pengurangan/        Reklasifikasi/         Revaluasi/          Ending
                                  balance           Additions        Deductions        Reclassifications       Revaluation         balance

     Biaya perolehan                                                                                                                                          Acquisition cost
     Kepemilikan langsung:                                                                                                                                    Directly owned:
     Bangunan dan prasarana          39,726,407            2,985                -                        -        (1,890,028)        37,839,364     Building and improvements
     Suku cadang rotable            100,912,842                -                -                1,498,202                 -        102,411,044             Rotable spare parts
     Peralatan dan                                                                                                                                            Warehouse tools
        perlengkapan bengkel        115,311,435         339,983                 -                  412,284                   -      116,063,702            and equipments
     Peralatan kantor dan                                                                                                                                    Office equipments
        komputer                     34,794,565         300,602                 -                   24,986                   -       35,120,153             and computers
     Perbaikan aset sewa                226,326               -                 -                        -                   -          226,326      Leasehold improvements
     Aset dalam konstruksi              916,463         327,057            (5,574)                (412,284)                  -          825,662      Assets under construction

                                    291,888,038         970,627            (5,574)               1,523,188        (1,890,028)       292,486,251
     Akumulasi penyusutan                                                                                                                           Accumulated depreciation
     Kepemilikan langsung:                                                                                                                                     Directly owned:
     Bangunan dan prasarana          (2,063,532)      (2,349,810)               -                          -      2,504,741           (1,908,601)     Building and improvemen
     Suku cadang rotable            (45,994,614)      (5,435,516)               -                          -              -          (51,430,130)           Rotable spare parts
     Peralatan dan                                                                                                                                             Warehouse tools
        perlengkapan bengkel        (76,090,220)      (5,316,959)               -                          -                 -       (81,407,179)          and equipments
     Peralatan kantor dan                                                                                                                                    Office equipments
        komputer                    (24,093,699)      (1,664,798)               -                          -                 -       (25,758,497)           and computers
     Perbaikan aset sewa               (226,326)                -               -                          -                 -          (226,326)     Leasehold improvements

                                   (148,468,391)     (14,767,083)               -                          -      2,504,741         (160,730,733)
     Provisi atas penurunan                                                                                                                          Provision for impairment
        nilai suku cadang                                                                                                                           of rotable spare parts,
        rotable, peralatan dan                                                                                                                      warehouse tools and
        perlengkapan bengkel         (8,183,096)               -        8,183,096                          -                 -                  -             equipments

     Nilai buku bersih              135,236,551                                                                                     131,755,518                Net book value


                                                                                     2022
                                 Saldo awal/                                                                                     Saldo akhir/
                                 Beginning         Penambahan/      Pengurangan/        Reklasifikasi/         Revaluasi/          Ending
                                  balance           Additions        Deductions        Reclassifications       Revaluation         balance

     Biaya perolehan                                                                                                                                           Acquisition cost
     Kepemilikan langsung:                                                                                                                                      Directly owned:
     Bangunan dan prasarana          41,257,050          19,018                 -                          -      (1,549,661)        39,726,407      Building and improvements
     Suku cadang rotable            100,912,842               -                 -                          -               -        100,912,842              Rotable spare parts
     Peralatan dan                                                                                                                                             Warehouse tools
        perlengkapan bengkel        114,306,290        1,169,658         (164,513)                         -                 -      115,311,435             and equipments
     Peralatan kantor dan                                                                                                                                     Office equipments
        komputer                     34,655,118         101,080                 -                   38,367                   -       34,794,565              and computers
     Perbaikan aset sewa                226,326               -                 -                        -                   -          226,326       Leasehold improvements
     Aset dalam konstruksi              312,861         787,704          (145,735)                 (38,367)                  -          916,463       Assets under construction

                                    291,670,487        2,077,460         (310,248)                         -      (1,549,661)       291,888,038
     Akumulasi penyusutan                                                                                                                           Accumulated depreciation
     Kepemilikan langsung:                                                                                                                                      Directly owned:
     Bangunan dan prasarana          (1,202,004)      (2,349,697)               -                          -      1,488,169           (2,063,532)    Building and improvements
     Suku cadang rotable            (40,684,890)      (5,309,724)               -                          -              -          (45,994,614)            Rotable spare parts
     Peralatan dan                                                                                                                                             Warehouse tools
        perlengkapan bengkel        (69,088,501)      (7,020,912)         19,193                           -                 -       (76,090,220)           and equipments
     Peralatan kantor dan                                                                                                                                     Office equipments
        komputer                    (22,112,841)      (1,980,858)               -                          -                 -       (24,093,699)            and computers
     Perbaikan aset sewa               (226,326)               -                -                          -                 -          (226,326)     Leasehold improvements

                                   (133,314,562)     (16,661,191)         19,193                           -      1,488,169         (148,468,391)
     Provisi atas penurunan                                                                                                                          Provision for impairment
        nilai suku cadang                                                                                                                           of rotable spare parts,
        rotable, peralatan dan                                                                                                                      warehouse tools and
        perlengkapan bengkel         (8,183,096)               -                -                          -                 -        (8,183,096)             equipments

     Nilai buku bersih              150,172,829                                                                                     135,236,551                 Net book value


     Pada tahun 2023, terdapat reklasifikasi dari                                            As at 31 December 2023, there were reclassification
     persediaan ke aset tetap sebesar AS$1,52 juta                                           of inventories to fixed assets amounting to US$1.52
     berdasarkan penilaian manajemen terhadap sifat                                          million based on management’s assessment of the
     aset.                                                                                   assets nature.

     Beban penyusutan sebesar AS$14,77 juta (2022:                                           Depreciation expenses amounting to US$14.77
     AS$16,66 juta) seluruhnya dibebankan sebagai                                            million (2022: US$16.66 million) are charged to
     beban usaha.                                                                            operating expenses.
Page 487
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                  Lampiran 5/43 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                    FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                    31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                        (Expressed in US Dollars, unless otherwise stated)


9.   ASET TETAP (lanjutan)                                           9.   FIXED ASSETS (continued)

     Aset dalam konstruksi terdiri dari:                                  Assets under construction consist of the following:

                                                              2023
                                                                      Persentase       Estimasi
                              Nilai tercatat/                        penyelesaian/   penyelesaian/
                                Carrying        Nilai kontrak/       Percentage of     Estimated
                                 amount         Contract value        completion      completion

     Peralatan dan                                                                                                   Warehouse tools
       perlengkapan bengkel           813,506           882,893           92%        Mei/May 2024                  and equipments
     Bangunan                          12,156            12,796           95%        Feb/Feb 2024                           Buidling

                                      825,662           895,689

                                                              2022
                                                                      Persentase       Estimasi
                              Nilai tercatat/                        penyelesaian/   penyelesaian/
                                Carrying        Nilai kontrak/       Percentage of     Estimated
                                 amount         Contract value        completion      completion

     Peralatan dan                                                                                                   Warehouse tools
       perlengkapan bengkel           916,463        1,891,370            48%        Juni/June 2023                and equipments

                                      916,463        1,891,370

     Grup mempunyai aset tetap yang telah disusutkan                      The Group has fixed assets which are fully
     penuh tetapi masih digunakan dengan harga                            depreciated but are still being used with acquisition
     perolehan sebesar AS$90,96 juta (2022: AS$84,82                      cost amounting to US$90.96 million (2022:
     juta).                                                               US$84.82 million).

     Aset tetap telah diasuransikan kepada PT Asuransi                    Fixed assets were insured with PT Asuransi Tri
     Tri Pakarta terhadap risiko kebakaran, pencurian                     Pakarta against fire, theft and other possible risks as
     dan risiko lainnya sebagai berikut:                                  follows:

                                                 2023                      2022

     Jumlah tercatat aset tetap                                                                               Carrying amount of
       yang diasuransikan                        71,930,711                77,254,420                      insured fixed assets

     Jumlah pertanggungan asuransi
       Rupiah (dalam AS$                                                                                         Total sum insured
       ekuivalen)                                82,256,644                93,633,663                Rupiah (in US$ equivalent)

     Manajemen berpendapat nilai pertanggungan                            Management believes that the insurance coverage
     tersebut cukup untuk menutup kemungkinan                             is adequate to cover possible losses on the assets
     kerugian atas aset yang dipertanggungkan.                            insured.

     Total nilai buku bersih aset tetap berupa bangunan                   The total net book value of fixed assets, such as
     dan prasarana, peralatan dan perlengkapan                            building and improvements, warehouse tools and
     bengkel, dan suku cadang rotable sebesar                             equipment, and rotable spare parts amounting to
     AS$94,53 juta digunakan sebagai jaminan kepada                       US$94.53 million is used as collateral to PT Bank
     PT Bank Negara Indonesia (Persero) Tbk (Catatan                      Negara Indonesia (Persero) Tbk (Note 13).
     13).
Page 488
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/44 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


9.   ASET TETAP (lanjutan)                                     9.   FIXED ASSETS (continued)

     Aset tetap yang dinyatakan dengan nilai wajar                  Fixed assets carried at revalued amount

     Penilaian atas nilai wajar aset tetap berupa                   The revaluation of buildings and improvements was
     bangunan dan prasarana dilakukan oleh penilai                  performed by independent appraisers, KJPP
     independen, KJPP Karmanto & Rekan dalam                        Karmanto & Rekan as stated in the report dated 31
     laporannya tertanggal 31 Januari 2024 (2022: 30                January 2024 (2022: 30 December 2022). The
     Desember 2022). Penilai independen tersebut telah              independent appraisers are registered in OJK. The
     teregistrasi di OJK. Penilaian aset tetap                      revaluation of fixed assets used the financial
     menggunakan laporan per 30 September 2023                      information as at 30 September 2023 (2022: 30
     (2022: 30 Juni 2022). Metode penilaian yang                    June 2022). The appraisal method used is the cost
     digunakan adalah pendekatan biaya.                             approach.

     Bangunan dan prasarana milik Grup dinilai                      The Group’s building and improvements measured
     menggunakan hirarki nilai wajar tingkat 2 pada                 using fair value hierarchy level 2 as at 31 December
     tanggal 31 Desember 2023.                                      2023.

     Tidak ada perpindahan antara tingkat 1 dan tingkat             There was no transfer between Level 1 and Level 2
     2 selama periode tersebut.                                     during the period.

     Selisih nilai wajar aset dengan nilai tercatat                 The difference between the fair value and carrying
     dikurangi dengan pajak tangguhan, dibukukan pada               amount of the assets net of deferred tax, was
     penghasilan komprehensif lain dan diakumulasi                  recorded in other comprehensive income and
     dalam ekuitas pada bagian “Surplus/(defisit)                   accumulated in equity as “Revaluation surplus/
     Revaluasi”.                                                    (deficit)”.

     Jika bangunan dan prasarana diukur menggunakan                 If building and improvements had been measured
     nilai historis, nilai tercatat aset tetap tersebut akan        on a historical cost basis, the asset’s carrying
     sebesar AS$29,57 juta (2022: AS$31,66 juta).                   amount would have been US$29.57 million (2022:
                                                                    US$31.66 million).

     Pembalikan penurunan nilai aset atas Unit                      Impairment reversal of aircraft maintenance
     Penghasil Kas jasa pemeliharaan pesawat                        services Cash Generating Units

     Pasca pemulihan Grup dari pandemi COVID-19,                    Post the recovery from COVID-19 pandemic, as at
     pada tanggal 31 Desember 2023, Grup melakukan                  31 December 2023, the Group has performed an
     pengujian penurunan nilai pada tingkat Unit                    impairment reversal assessment at the Cash-
     Penghasil Kas (“UPK”). Sebagai hasil dari                      Generating Unit (“CGU”) level. As a result, the
     pengujian, nilai terpulihkan dengan menggunakan                asset’s recoverable amount using VIU exceeded
     VIU, atas unit penghasil kasnya melebihi jumlah                their carrying value of the cash generating unit,
     tercatatnya sehingga Grup mengakui pembalikan                  therefore management recognised an impairment
     penurunan nilai atas UPK bisnis jasa pemeliharaan              reversal in relation to the aircraft maintenance
     pesawat terbang sebesar AS$ 8,18 juta.                         services CGU amounting to US$ 8.18 million.

     Grup dibantu oleh penilai independen eksternal                 The Group was assisted by an external independent
     untuk memperkirakan jumlah terpulihkan UPK                     valuer to estimate the recoverable amount of the
     dengan menggunakan pendekatan pendapatan                       CGU used an income approach which is predicted
     yang diprediksi melalui nilai arus kas masa depan              upon the value of the future cash flows that a
     yang akan dihasilkan oleh suatu bisnis. Metode arus            business will generate going forward. The
     kas diskontoan yang digunakan meliputi proyeksi                discounted cash flow method was used which
     arus kas dan mendiskontokannya menjadi nilai kini.             involves projecting cash flows and converting them
     Proses pendiskontoan menggunakan tingkat                       into a present value equivalent through discounting.
     pengembalian yang sesuai dengan risiko terkait                 The discounting process uses a rate of return that is
     dengan bisnis atau aset dan nilai waktu uang.                  commensurate with the risk associated with the
                                                                    business or asset and the time value of money.
Page 489
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/45 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


9.   ASET TETAP (lanjutan)                                9.   FIXED ASSETS (continued)

     Pembalikan penurunan nilai aset atas Unit                 Impairment reversal of aircraft maintenance
     Penghasil Kas jasa pemeliharaan pesawat                   services Cash Generating Units (continued)
     (lanjutan)

     Asumsi utama yang digunakan dalam VIU,                    The key assumptions used in the VIU calculations,
     termasuk estimasi pertumbuhan pendapatan di               included estimation of revenue growth in the
     tahun    mendatang,    belanja  modal,   tingkat          upcoming year, the capital expenditure, the long-
     pertumbuhan jangka panjang yang digunakan untuk           term growth rate used to estimate the terminal value
     mengestimasi nilai terminal sebesar 2,28%, dan            at 2.28% and the pre-tax discount rate used in the
     tingkat diskonto sebelum pajak yang digunakan             model at 11.71%.
     dalam model sebesar 11,71%.

     Manajemen berkeyakinan bahwa pembalikan                   Management believes that the asset impairment
     penurunan nilai aset pada tanggal 31 Desember             reversal as at 31 December 2023 can be
     2023 dapat diakui.                                        recognised.


10. UTANG USAHA                                           10. TRADE PAYABLES


                                           2023                2022

     Pihak berelasi                         20,147,362          10,349,689                         Related parties
     Utang usaha - pihak berelasi,                                                Trade payables - related parties,
       bagian jangka panjang                (9,755,745)                   -                 non-current portion

     Utang usaha - pihak berelasi,                                                Trade payables - related parties,
       bagian jangka pendek                                                                       current portion
       (Catatan 28)                         10,391,617          10,349,689                              (Note 28)

     Pihak ketiga                           81,469,428         108,151,417                           Third parties
     Utang usaha - pihak ketiga,                                                    Trade payables – third parties,
       bagian jangka panjang               (14,340,693)        (19,409,349)                  non-current portion

     Utang usaha - pihak ketiga,                                                    Trade payables – third parties,
     Bagian jangka pendek                   67,128,735          88,742,068                       current portion

     Utang usaha berdasarkan mata uang asal terdiri            Trade payables based on their original currencies
     dari:                                                     consist of the following:

                                           2023                2022

     Dolar AS                               78,842,659          87,031,697                              US Dollars
     Rupiah                                 21,447,204          30,015,524                                 Rupiah
     Lainnya                                 1,326,927           1,453,885                                 Others

                                          101,616,790          118,501,106
Page 490
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/46 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


10. UTANG USAHA (lanjutan)                                   10. TRADE PAYABLES (continued)

    Utang usaha terutama merupakan utang kepada                 Trade payables mainly represent the outstanding
    pemasok lokal dan asing untuk pembelian                     liabilities to local and foreign suppliers for purchases
    persediaan.                                                 of inventories.
    Pada tanggal 31 Desember 2023, utang usaha                  As at 31 December 2023, the Group's long-term
    jangka panjang merupakan utang usaha kepada                 trade payables represent trade payables to several
    beberapa pemasok yang telah direstrukturisasi               vendors that have been restructured based on
    berdasarkan negosiasi dengan masing-masing                  negotiations with the respective vendors. The
    pemasok. Selisih antara nilai wajar dan nilai tercatat      difference between fair value and the book value of
    utang yang direstrukturisasi sebesar AS$0,26 juta           the restructured trade payables amounting to
    (2022: AS$5,08 juta) dicatat pada laporan laba rugi         US$0.26 million (2022: US$5.08 million) was
    konsolidasian tahun berjalan.                               recorded in the current year consolidated statement
                                                                of profit or loss.

    Pada 31 Desember 2023, amortisasi dampak                    As at 31 December 2023, the amortisation of the
    restrukturisasi utang sebesar AS$1,60 juta dicatat          impact of debt restructuring amounting to US$1.60
    sebagai beban keuangan.                                     million was recorded as financial charges.

    Penghasilan dari restrukturisasi utang merupakan            Income from debt restructuring is trade payables
    utang usaha sebesar AS$6,88 juta yang tidak jadi            amounting US$6.88 million which was cancelled by
    ditagihkan oleh pemasok.                                    vendors.


11. AKRUAL                                                   11. ACCRUALS

                                             2023                2022

    Pembelian persediaan                                                                      Purchase of inventories
      dan jasa                               39,645,695          51,276,155                           and services
    Penalti dari kontak                       3,959,821                   -                    Penalty from contracts
    Bonus dan tantiem                         3,775,782           4,268,568                     Bonuses and tantiem
    Sewa dan konsesi                          2,525,104           2,278,826                    Rental and concession
    Asuransi                                    817,889           1,239,097                                Insurance
    Lain-lain (masing-
      masing di bawah                                                                              Others (each below
      AS$1.000.000)                            4,684,209          4,952,081                         US$1,000,000)

                                             55,408,500          64,014,727

    Lihat Catatan 28 untuk informasi mengenai pihak             Refer to Note 28 for details of related parties
    berelasi.                                                   information.
Page 491
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/47 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


12. PINJAMAN BANK JANGKA PENDEK                            12. SHORT-TERM BANK BORROWINGS

                                           2023               2022

    Pihak ketiga:                                                                                   Third parties:
      CTBC                                             -       16,300,000                               CTBC
      PT Bank Panin Tbk                                                                     PT Bank Panin Tbk
        (“Panin”)                              194,603            190,706                         (“Panin”)

                                               194,603         16,490,706

    CTBC                                                     CTBC

    Pada tanggal 19 November 2019, Grup                      On 19 November 2019, the Group obtained a
    memperoleh perjanjian fasilitas pembiayaan dari          financing facility agreement from CTBC with a
    CTBC dengan jangka waktu sampai dengan                   maturity period until 19 November 2020. The facility
    19 November 2020. Jumlah maksimum fasilitas ini          has a maximum amount of US$20,000,000 with
    sebesar AS$20.000.000 dengan biaya LIBOR                 interest of LIBOR plus 2% per annum, and the
    ditambah 2% per tahun, dan Grup juga                     Group also obtained a foreign exchange transaction
    memperoleh fasilitas transaksi valuta asing senilai      facility amounting to US$1,000,000. On 9 November
    AS$1.000.000. Pada tanggal 9 November 2020,              2020, the facility was renewed until 19 November
    fasilitas tersebut diperpanjang sampai dengan            2021.
    19 November 2021.

    Pada    tanggal    3   Desember     2021,   Grup          On 3 December 2021, the Group signed an
    menandatangani perubahan atas perjanjian fasilitas        amendment of credit facility agreement with CTBC,
    kredit dengan CTBC yang mengubah beberapa                 which revised certain terms and conditions of the
    syarat dan kondisi dari pinjaman termasuk jumlah          loan including the facility maximum amount of
    maksimum fasilitas menjadi AS$18.700.000 dengan           US$18,700,000 with a floating interest rate of three-
    suku bunga mengambang LIBOR tiga bulanan                  month LIBOR plus 3% per annum, and a maturity
    ditambah 3% per tahun, dan jangka waktu sampai            period until November 2022.
    dengan November 2022.

    Pada tanggal 29 November 2022, Grup                       On 29 November 2022, the Group signed an
    menandatangani perubahan atas perjanjian fasilitas        amendment of credit facility agreement with CTBC,
    kredit dengan CTBC yang mengubah beberapa                 which revised certain terms and conditions of the
    syarat dan kondisi dari pinjaman termasuk jumlah          loan including the facility maximum amount of
    maksimum fasilitas menjadi AS$16.300.000 dengan           US$16,300,000 with a floating interest rate of one-
    suku bunga mengambang LIBOR satu bulanan                  month LIBOR plus 0.7% per annum, and a maturity
    ditambah 0,7% per tahun, dan jangka waktu sampai          period until January 2023.
    dengan Januari 2023.

    Pada     tanggal    17    Januari 2023,  Grup             On 17 January 2023, the Group has signed an
    menandatangani persetujuan perubahan atas                 amendment of credit facility agreement with CTBC,
    perjanjian fasilitas kredit dengan CTBC yang              which revised certain terms and conditions of the
    mengubah beberapa syarat dan kondisi dari                 loan including a new schedule of repayments with a
    pinjaman termasuk jadwal pembayaran dengan                final maturity of December 2035 (see note 13).
    batas akhir pelunasan pada Desember 2035 (lihat
    catatan 13).
Page 492
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/48 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                      31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)          (Expressed in US Dollars, unless otherwise stated)


12. PINJAMAN BANK JANGKA PENDEK (lanjutan)                12. SHORT-TERM BANK BORROWINGS (continued)

    Panin                                                    Panin

    Pada tanggal 28 Juni 2022, Grup memperoleh               On 28 June 2022, the Group obtained overdraft loan
    fasilitas pinjaman overdraft dengan jaminan              facility with restricted deposits as collateral from
    deposito yang dibatasi dari Panin dengan jangka          Panin with a maturity period until 28 June 2023. The
    waktu sampai dengan 28 Juni 2023. Jumlah                 facility has a maximum amount of Rp3,000,000,000.
    maksimum fasilitas ini sebesar Rp3.000.000.000.

    Pada tanggal 28 Juni 2023, Grup melakukan                On 28 June 2023, the Group extended the credit
    perpanjangan perjanjian kredit sampai dengan 28          agreement until 28 June 2024 with a total facility of
    Juni 2024 dengan jumlah fasilitas sebesar                Rp3,000,000,000 (equivalent to US$194,603).
    Rp3.000.000.000 (setara dengan AS$194.603).

    Grup tidak diwajibkan untuk memenuhi rasio               The Group did not require to meet any financial ratio
    keuangan sehubungan dengan perjanjian ini. Pada          in relation to this agreement. As at 31 December
    31 Desember 2023, tidak ada jaminan untuk fasilitas      2023, there was no collateral for this facility.
    ini.


13. PINJAMAN BANK JANGKA PANJANG                          13. LONG-TERM BANK BORROWINGS

                                           2023               2022

    Entitas berelasi dengan
      Pemerintah                                                                    Government related entities
      PT Bank Negara Indonesia                                                     PT Bank Negara Indonesia
         (Persero) Tbk ("BNI")            189,259,424        193,161,680              (Persero) Tbk ("BNI")
      PT Bank Rakyat Indonesia                                                     PT Bank Rakyat Indonesia
         (Persero) Tbk ("BRI")            141,658,833        144,358,832              (Persero) Tbk ("BRI")

    Pihak ketiga                                                                                    Third parties
      Maybank                               36,154,809        36,900,270                             Maybank
      CTBC                                  15,811,000                 -                                CTBC
      PT Indonesia Infrastructure                                                  PT Indonesia Infrastructure
        Finance (“IIF”)                     24,047,917        24,543,750                    Finance (“IIF”)

                                          406,931,983        398,964,532

    Keuntungan dari restrukturisasi                                                         Gain on restructuring
      BRI                                   (5,984,288)                 -                                 BRI
      CTBC                                    (472,181)                 -                               CTBC

                                          400,475,514        398,964,532

    Bagian jatuh tempo dalam
      satu tahun                            (9,913,139)       (7,843,550)                      Current maturities

    Bagian jangka panjang -
      setelah dikurangi bagian
      jatuh tempo dalam                                                                 Long-term portion - net of
      satu tahun                          390,562,375        391,120,982                    current maturities
Page 493
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/49 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                  13. LONG-TERM BANK BORROWINGS (continued)

    BNI                                                         BNI

    a.    Fasilitas   kredit   investasi: Pembiayaan            a.    Investment credit facility: Finance development
          pengembangan kemampuan dan penambahan                       capability and increase capacity for aircraft
          kapasitas perawatan pesawat                                 maintenance

          Pada tanggal 28 April 2016, Grup memperoleh                 On 28 April 2016, the Group obtained an
          fasilitas      kredit     investasi     sebesar             investment credit facility with a maximum
          AS$42.000.000, yang jatuh tempo pada tanggal                amount of US$42,000,000, due on 28 April
          28      April  2021     dengan    suku   bunga              2021 at a floating interest rate of three-month
          mengambang sebesar LIBOR tiga bulanan                       LIBOR plus 3.5% per annum. On 16 July 2020,
          ditambah 3,5% per tahun. Pada tanggal 16 Juli               the facility was extended to 27 April 2022.
          2020, fasilitas ini diperpanjang hingga 27 April
          2022.

          Pada     tanggal      24    Juni    2021,   Grup            On 24 June 2021, the Group signed an
          menandatangani         Persetujuan     Perubahan            Amendment of Restructuring Credit Facility with
          Perjanjian Kredit Restrukturisasi dengan BNI                BNI, which revised certain terms and conditions
          yang mengubah beberapa syarat dan kondisi                   of the loan including a new schedule of
          dari pinjaman termasuk jadwal pembayaran                    repayments starting in July 2022, with a final
          yang baru mulai di Juli 2022 dengan batas akhir             maturity in May 2023. The overall amended
          pelunasan di Mei 2023. Fasilitas ini dikenakan              facilities were borne at a fixed interest rate of
          suku bunga tetap sebesar 3% per tahun sampai                3% per annum up to June 2022 and at a
          dengan Juni 2022 dan suku bunga                             floating interest rate of three-month LIBOR plus
          mengambang LIBOR tiga bulanan ditambah                      3.5% per annum from July 2022 until the facility
          3,5% per tahun dari Juli 2022 sampai dengan                 becomes due. On 4 August 2022, the credit
          jatuh tempo fasilitas. Pada tanggal 4 Agustus               was restructured.
          2022, kredit ini direstrukturisasi.

          Pada tanggal 23 Oktober 2018, Grup                          On 23 October 2018, the Group obtained a
          memperoleh fasilitas kredit modal kerja sebesar             working capital loan facility with a maximum
          AS$73.000.000, yang jatuh tempo pada tanggal                amount of US$73,000,000, due on 23 October
          23 Oktober 2026 dengan suku bunga                           2026 at a floating interest rate of three-month
          mengambang sebesar LIBOR tiga bulanan                       LIBOR plus 3.05% per annum.
          ditambah 3,05% per tahun.

          Pada     tanggal    24    Juni   2021,    Grup              On 24 June 2021, the Group signed an
          menandatangani       Persetujuan     Perubahan              Amendment of Restructuring Credit Facility with
          Perjanjian Kredit Restrukturisasi dengan BNI                BNI, which revised certain terms and conditions
          yang mengubah beberapa syarat dan kondisi                   of the loan including a new schedule of
          dari pinjaman termasuk jadwal pembayaran                    repayments starting in July 2022 with a final
          yang baru mulai di Juli 2022 dengan batas akhir             maturity of August 2027. The overall amended
          pelunasan di Agustus 2027. Fasilitas ini                    facilities were borne at a fixed interest rate of
          dikenakan suku bunga tetap sebesar 3% per                   3% per annum up to June 2022 and at a
          tahun sampai dengan Juni 2022 dan suku                      floating interest rate of three-month LIBOR plus
          bunga mengambang LIBOR tiga bulanan                         3.05% per annum from July 2022 until the
          ditambah 3,05% dan per tahun dari Juli 2022                 facility becomes due.
          sampai dengan jatuh tempo fasilitas.
Page 494
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/50 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                 13. LONG-TERM BANK BORROWINGS (continued)

    BNI (lanjutan)                                             BNI (continued)

    a.   Fasilitas   kredit   investasi:   Pembiayaan          a.   Investment credit facility: Finance development
         pengembangan kemampuan dan penambahan                      capability and increase capacity for aircraft
         kapasitas perawatan pesawat (lanjutan)                     maintenance (continued)

         Pada tanggal 4 Agustus 2022, Grup                          On 4 August 2022, the Group has signed an
         menandatangani      perjanjian restrukturisasi             restructuring agreement with BNI, that
         dengan BNI yang merestrukturisasi fasilitas                restructured investment credit facility amounting
         kredit investasi sebesar AS$42.000.000 dan                 to US$42,000,000 and working capital
         modal kerja sebesar AS$73.000.000 menjadi                  amounting US$73,000,000 to a long-term loan
         pinjaman jangka panjang Term Loan I dengan                 facilities Term Loan I with certain terms and
         beberapa syarat dan kondisi dari pinjaman                  conditions of the loan including a new schedule
         termasuk jadwal pembayaran dengan batas                    of repayments with a final maturity of December
         akhir pelunasan di Desember 2035. Fasilitas ini            2035. The overall amended facilities were
         dikenakan suku bunga tetap sebesar 3% per                  borne at a fixed interest rate of 3% per annum
         tahun sampai dengan jatuh tempo fasilitas dan              until the facility becomes due and a maximum
         nilai maksimum sebesar AS$76.351.468.                      amount of US$76,351,468.

         Sehubungan dengan perjanjian ini, Grup                     In relation to this agreement, the Group has to
         diwajibkan memenuhi rasio keuangan cakupan                 comply with financial ratio which debt service
         utang 100%. Grup telah mendapatkan                         coverage ratio of 100%. The Group has
         pengesampingan kewajiban memenuhi rasio                    obtained waiver for the financial ratio covenants
         keuangan sampai 31 Desember 2024.                          until 31 December 2024.

         Total saldo pinjaman sebesar AS$74.809.015                 The total outstanding loan is US$74,809,015
         (31 Desember 2022: AS$76.351.468).                         (31 Desember 2022: US$76,351,468).

    b.   Fasilitas kredit  investasi:   Pembiayaan             b.   Investment credit facility: Financing construction
         pembangunan hanggar dan peralatan hanggar                  for hangar and hangar equipment

         Pada tanggal 31 Mei 2013, Grup memperoleh                  On 31 May 2013, the Group obtained an
         fasilitas kredit investasi yang jatuh tempo pada           investment credit facility with maturity date of 26
         tanggal 26 November 2025, dengan nilai                     November 2025, with a maximum amount of
         maksimum sebesar Rp490.000.000.000 dan                     Rp490,000,000,000 and US$6,000,000, at a
         AS$6.000.000, yang dikenakan suku bunga                    floating interest rate of three-month LIBOR plus
         mengambang masing-masing sebesar LIBOR                     3.5% per annum and a fixed rate of 6% per
         tiga bulanan ditambah 3,5% per tahun dan suku              annum, respectively. The credit facility is
         bunga tetap 6% per tahun. Fasilitas kredit ini             intended to finance the construction of a new
         ditujukan untuk pembiayaan pembangunan                     hangar and hangar equipment.
         hanggar baru dan peralatan hanggar.
Page 495
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/51 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                13. LONG-TERM BANK BORROWINGS (continued)

    BNI (lanjutan)                                            BNI (continued)

    b.   Fasilitas  kredit investasi:  Pembiayaan             b.   Investment credit facility: Financing construction
         pembangunan hanggar dan peralatan hanggar                 for hangar and hangar equipment (continued)
         (lanjutan)

         Pada     tanggal    24    Juni   2021,     Grup           On 24 June 2021, the Group signed an
         menandatangani       Persetujuan    Perubahan             Amendment of Restructuring Credit Facility with
         Perjanjian Kredit Restrukturisasi dengan BNI              BNI, which revised certain terms and conditions
         yang mengubah beberapa syarat dan kondisi                 of the loan including a new schedule of
         dari pinjaman termasuk jadwal pembayaran                  repayments starting in July 2022 with a final
         yang baru mulai di Juli 2022 dengan batas akhir           maturity of December 2026. The overall
         pelunasan di Desember 2026. Fasilitas ini                 amended facilities were borne at a fixed interest
         dikenakan suku bunga tetap sebesar 3% per                 rate of 3% per annum up to June 2022 and at a
         tahun sampai dengan Juni 2022 dan suku                    floating interest rate of three-month LIBOR plus
         bunga mengambang masing-masing LIBOR                      3.5% and fixed interest rate 4.75% per annum
         tiga bulanan ditambah 3,5% dan suku bunga                 for US$ loan from July 2022 until the facility
         tetap 4,75% per tahun untuk pinjaman AS$ dari             becomes due, respectively.
         Juli 2022 sampai dengan jatuh tempo fasilitas.

         Pada tanggal 4 Agustus 2022, Grup                         On 4 August 2022, the Group has signed an
         menandatangani      perjanjian restrukturisasi            restructuring agreement with BNI, that
         dengan BNI yang merestrukturisasi fasilitas               restructured investment credit facility amounting
         kredit investasi sebesar AS$31.591.164 dan                to US$31,591,164 and US$6,000,000 to a long-
         AS$6.000.000 menjadi pinjaman jangka                      term loan facilities Term Loan II with certain
         panjang Term Loan II dengan beberapa syarat               terms and conditions of the loan including a
         dan kondisi dari pinjaman termasuk jadwal                 new schedule of repayments with a final
         pembayaran dengan batas akhir pelunasan di                maturity of December 2035. The overall
         Desember 2035. Fasilitas ini dikenakan suku               amended facilities were borne at a fixed interest
         bunga tetap sebesar 3% per tahun sampai                   rate of 3% per annum until the facility becomes
         dengan jatuh tempo fasilitas dan nilai                    due and a maximum amount of US$20,335,704.
         maksimum sebesar AS$20.335.704.

         Sehubungan dengan perjanjian ini, Grup                    In relation to this agreement, the Group has to
         diwajibkan memenuhi rasio keuangan cakupan                comply with financial ratio which debt service
         utang 100%. Grup telah mendapatkan                        coverage ratio of 100%. The Group has
         pengesampingan kewajiban memenuhi rasio                   obtained waiver for the financial ratio covenants
         keuangan sampai Desember 2024.                            until December 2024.

         Total saldo pinjaman sebesar AS$19.924.881                The total outstanding loan is US$19,924,881
         (31 Desember 2022: AS$20.335.704).                        (31 December 2022: US$20,335,704).
Page 496
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/52 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                 13. LONG-TERM BANK BORROWINGS (continued)

    BNI (lanjutan)                                             BNI (continued)

    c.   Restrukturisasi pinjaman jangka pendek dan            c.     Restructuring short-term loan and factoring
         liabilitas anjak piutang                                     liabilities

         Pada     tanggal   24      Juni   2021,    Grup              On 24 June 2021, the Group signed an
         menandatangani        Adendum         Perjanjian             Addendum Restructuring Agreement with BNI
         Restrukturisasi     dengan        BNI      yang              that restructured US$30,000,000 working
         merestrukturisasi fasilitas kredit modal kerja               capital credit facility and non-cash facility in the
         sebesar AS$30.000.000 dan fasilitas non-tunai                form of Omnibus Sight Usance, UPAS LC and
         berupa Omnibus Sight Usance, UPAS LC dan                     SKBDN from BNI with a maximum amount of
         SKBDN dari BNI dengan jumlah maksimum                        US$67,500,000 to a long-term loan with certain
         fasilitas sebesar AS$67.500.000 menjadi                      terms and conditions of the loan including a
         pinjaman jangka panjang dengan beberapa                      new schedule of repayments starting in July
         syarat dan kondisi dari pinjaman termasuk                    2022 with a final maturity of November 2027.
         jadwal pembayaran yang baru mulai di Juli                    The overall amended facilities were borne at a
         2022 dengan batas akhir pelunasan di                         fixed interest rate of 3% per annum up to June
         November 2027. Fasilitas ini dikenakan suku                  2022 and at a floating interest rate of three-
         bunga tetap sebesar 3% per tahun sampai                      month LIBOR plus 2.75% and three-month
         dengan Juni 2022 dan suku bunga                              LIBOR plus 3.5% per annum from July 2022
         mengambang masing-masing LIBOR tiga                          until the facility becomes due, respectively.
         bulanan ditambah 2,75% dan LIBOR tiga
         bulanan ditambah 3,5% per tahun dari Juli
         2022 sampai dengan jatuh tempo fasilitas.

         Pada tanggal 4 Agustus 2022, Grup                            On 4 August 2022, the Group has signed an
         menandatangani      perjanjian  restrukturisasi              restructuring agreement with BNI, that
         dengan BNI yang merestrukturisasi fasilitas                  restructured working capital credit facility of
         kredit modal kerja sebesar AS$30.000.000 dan                 US$30,000,000 and non-cash facility in the
         fasilitas non-tunai berupa Omnibus Sight                     form of Omnibus Sight Usance, UPAS LC and
         Usance, UPAS LC dan SKBDN sebesar                            SKBDN of US$67,448,998 million to a long-
         AS$67.448.998 menjadi pinjaman jangka                        term loan facilities Term Loan III with certain
         panjang Term Loan III dengan beberapa syarat                 terms and conditions of the loan including a
         dan kondisi dari pinjaman termasuk jadwal                    new schedule of repayments with a final
         pembayaran dengan batas akhir pelunasan di                   maturity of December 2035. The overall
         Desember 2035. Fasilitas ini dikenakan suku                  amended facilities were borne at a fixed interest
         bunga tetap sebesar 3% per tahun sampai                      rate of 3% per annum until the facility becomes
         dengan jatuh tempo fasilitas dan nilai                       due     and     a    maximum       amount       of
         maksimum sebesar AS$96.474.508. Grup                         US$96,474,508. The Group has assessed the
         menilai    keuntungan     dari  restrukturisasi              gain from the loan restructuring is not material
         pinjaman adalah tidak material terhadap                      to    the    Group's    consolidated     financial
         laporan keuangan konsolidasian Grup.                         statements.

         Sehubungan dengan perjanjian ini, Grup                       In relation to this agreement, the Group has to
         diwajibkan memenuhi rasio keuangan cakupan                   comply with financial ratio which debt service
         utang 100%. Grup telah mendapatkan                           coverage ratio of 100%. The Group has
         pengesampingan kewajiban memenuhi rasio                      obtained waiver for the financial ratio covenants
         keuangan sampai Desember 2024.                               until December 2024.

         Total saldo pinjaman sebesar AS$94.525.528                   The total outstanding        loan amounted to
         (31 Desember 2022: AS$96.474.508).                           US$94,525,528    (31          December   2022:
                                                                      US$96,474,508).
Page 497
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/53 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                  13. LONG-TERM BANK BORROWINGS (continued)

    BNI (lanjutan)                                              BNI (continued)

    c.    Restrukturisasi pinjaman jangka pendek dan            c.    Restructuring short-term loan and factoring
          liabilitas anjak piutang (lanjutan)                         liabilities (continued)

          Semua fasilitas pinjaman BNI yang disebutkan                All of the above-mentioned BNI loan facilities
          di atas dijamin dengan aset tetap yang dibiayai             are secured with fixed assets financed by these
          melalui fasilitas ini (Catatan 9).                          facilities (Note 9).

          Pada tanggal 15 September 2023 melalui                      On 15 September 2023 through Letter No.
          Surat No. COB3/5/567, BNI telah memberikan                  COB3/5/567, BNI has given approval for the
          persetujuan untuk proses pengikatan jaminan                 collateral binding process with a paripassu
          dengan porsi paripassu terkait dengan                       portion related to the BRI Credit Agreement
          perjanjian kredit BRI Adendum III Perjanjian                Addendum III Credit Agreement No. 26 dated
          Kredit No. 26 tanggal 29 Desember 2023 (lihat               29 December 2023 (see note 13 - BRI).
          catatan 13 - BRI).

    BRI                                                         BRI

    a.    Fasilitas kredit modal kerja                          a.    Working capital credit facilities

          Pada tanggal 20 Mei 2020, Grup memperoleh                   On 20 May 2020, the Group obtained
          restrukturisasi untuk dua fasilitas kredit modal            restructuring for two working capital credit
          kerja dari BRI, dengan jumlah maksimum                      facilities from BRI, with a maximum amount of
          sebesar AS$50.993.901 dan AS$39.465.026                     US$50,993,901 and US$39,465,026 and a
          dan jatuh tempo pada tanggal 31 Mei 2024.                   maturity date on 31 May 2024. Interest rates
          Tingkat bunga sebesar 4,75% per tahun                       4.75% per annum were charged to the
          dibebankan ke saldo.                                        balances.
          Pada       tanggal 29   Juni  2021,     Grup                On 29 June 2021, the Group signed an
          menandatangani        Adendum      Perjanjian               Addendum Restructuring Agreement with
          Restrukturisasi dengan BRI yang mengubah                    BRI, which revised certain terms and
          beberapa syarat dan kondisi dari pinjaman                   conditions      of the loan         including the
          termasuk jumlah maksimum fasilitas menjadi                  maximum facilities of US$47,168,901 and
          masing-masing        AS$47.168.901       dan                US$36,502,526, respectively and a new
          AS$36.502.526 dan jadwal pembayaran yang                    schedule of repayments starting in 2023 with a
          baru mulai di tahun 2023 dengan batas akhir                 final maturity in 2030. The overall amended
          pelunasan di tahun 2030. Fasilitas ini                      facilities were borne at a fixed interest rate of
          dikenakan suku bunga tetap sebesar 3% per                   3% per annum up to December 2022 and at
          tahun sampai dengan Desember 2022 dan                       3.75% per annum until the facilities due.
          3,75% per tahun sampai dengan jatuh tempo
          fasilitas.
          Pada tanggal 30 Desember 2022, Grup telah                   On 30 December 2022, the group received
          menerima surat pemberitahuan putusan                        notification letter regarding the redetermination
          mengenai penetapan kembali bunga fasilitas                  of interest on credit facilities. This facility borne
          kredit. Fasilitas ini dikenakan suku bunga tetap            a fixed interest rate of 3% per annum starting
          sebesar 3% per tahun yang berlaku mulai                     from January 2023 until the maturity due of the
          Januari 2023 sampai dengan jatuh tempo                      facilities.
          fasilitas.
          Pada tanggal 10 April 2023, Grup telah                      As at 10 April 2023, Group received offering
          menerima surat penawaran kredit nomor                       letter     of    credit    with     number
          R.II.82.CRO/COD/LAD/04/2023, Grup tidak                     R.II.82.CRO/COD/LAD/04/2023, the Group has
          lagi memiliki kewajiban untuk memenuhi rasio                not obtained waiver for the financial ratio
          keuangan.                                                   covenants.
Page 498
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/54 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                 13. LONG-TERM BANK BORROWINGS (continued)

    BRI (lanjutan)                                             BRI (continued)

    a.   Fasilitas kredit modal kerja (lanjutan)               a.   Working capital credit facilities (continued)

         Pada tanggal 29 Desember 2023, Grup                        On 29 December 2023, the Group signed an
         menandatangani Adendum III Perjanjian Kredit               Addendum III Credit Agreement No. 26 with
         No. 26 dengan BRI atas fasilitas kredit modal              BRI, for working capital credit facilities with
         kerja dengan jumlah maksimum fasilitas                     maximum facilities of US$47,168,901 and
         AS$47.168.901 dan AS$36.502.526 serta                      US$36,502,526 and long-term loan with the
         pinjaman jangka panjang dengan jumlah                      maximum facility of US$62,000,000 which new
         maksimum fasilitas AS$62.000.000 dengan                    schedule of repayments started in 2023 with a
         jadwal pembayaran dimulai di tahun 2023                    final maturity in 2035. This facility bears a fixed
         dengan batas akhir pelunasan di tahun 2035.                interest rate of 3% per annum until May 2030,
         Fasilitas ini dikenakan suku bunga tetap                   interest rate of June 2030 until December 2035
         sebesar 3% per tahun sampai dengan Mei                     will be adjusted to the prevailing interest rate at
         2030, suku bunga Juni 2030 sampai dengan                   the bank.
         Desember 2035 akan disesuaikan dengan suku
         bunga yang berlaku di bank.

         Adendum perjanjian restrukturisasi ini juga                The addendum restructuring agreement also
         menyatakan bahwa Grup akan memberikan                      stated that the Group will pledge collateral for
         jaminan terkait fasilitas tersebut yang bersifat           these facilities which are cross-collateral with
         cross collateral dengan fasilitas kredit dari              credit facilities from other creditors who have
         kreditur lain yang memiliki hak pari-passu (BRI,           pari-passu rights (BRI, BNI, Maybank, CTBC,
         BNI, Maybank, CTBC, dan IIF). Hal ini akan                 and IIF). This will be effective upon approval of
         berlaku setelah mendapat persetujuan dalam                 the General Meeting of Shareholders.
         Rapat Umum Pemegang Saham.

         Total saldo pinjaman sebesar AS$141.658.833                The total outstanding loan amounted to
         (31 Desember 2022: AS$144.358.833). Grup                   US$141,658,833    (31   December    2022:
         mengakui keuntungan dari restrukturisasi                   US$144,358,833). The Group has recognised
         pinjaman sebesar AS$5.984.288.                             the gain from the loan restructuring is
                                                                    amounting US$5,984,288.

    b.   Restrukturisasi pinjaman jangka pendek dan            b.   Restructuring short-term loan and factoring
         liabilitas anjak piutang                                   liabilities

         Pada     tanggal    29     Juni   2021,    Grup            On 29 June 2021, the Group signed an
         menandatangani         Adendum        Perjanjian           Addendum Restructuring Agreement with BRI
         Restrukturisasi      dengan       BRI      yang            that restructured Kredit Modal Kerja Impor
         merestrukturisasi Kredit Modal Kerja Impor                 (“KMKI”), and Penangguhan Jaminan Impor
         (“KMKI”) dan Penangguhan Jaminan Impor                     (“PJI”) in the form of Surat Kredit Berdokumen
         (“PJI”) dalam bentuk Surat Kredit Berdokumen               Dalam Negeri (“SKBDN”), Letter of Credit
         Dalam Negeri (“SKBDN”), Letter of Credit                   (“LC”), Sight/Usance/Usance Payable at Sight
         (“LC”), Sight/Usance/Usance Payable at Sight               (“UPAS”) and Standby Letter of Credit
         (“UPAS”) dan Standby Letter of Credit (“SBLC”)             (“SBLC”) amounting to US$28 million and
         sebesar AS$28 juta dan Supply Chain                        Supply Chain Financing (“SCF”) with a
         Financing (“SCF”) dengan fasilitas maksimum                maximum facility amount of US$34,000,000
         sebesar AS$34.000.000 juta menjadi pinjaman                million to a long-term loan with certain terms
         jangka panjang dengan beberapa syarat dan                  and conditions of the loan including the
         kondisi dari pinjaman termasuk jumlah                      maximum facility of US$62,000,000 million
         maksimum fasilitas menjadi AS$62.000.000                   and a new schedule of repayments starting in
         dan jadwal pembayaran yang baru mulai di                   2023 with a final maturity in 2030. The overall
         tahun 2023 dengan batas akhir pelunasan di                 amended facilities were borne at a fixed
         tahun 2030. Fasilitas ini dikenakan suku bunga             interest rate of 3% per annum up to December
         tetap sebesar 3% per tahun sampai dengan                   2022 and at 3.75% per annum until the facility
         Desember 2022 dan 3,75% per tahun sampai                   became due.
         dengan jatuh tempo.
Page 499
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/55 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


13.   PINJAMAN BANK JANGKA PANJANG (lanjutan)                 13. LONG-TERM BANK BORROWINGS (continued)

      BRI (lanjutan)                                             BRI (continued)

      b.   Restrukturisasi pinjaman jangka pendek dan            b.   Restructuring short-term loan and factoring
           liabilitas anjak piutang (lanjutan)                        liabilities (continued)

           Pada tanggal 30 Desember 2022, Grup telah                  On 30 December 2022, the group received
           menerima surat pemberitahuan putusan                       notification letter regarding the redetermination
           mengenai penetapan kembali bunga fasilitas                 of interest on credit facilities. This facility borne
           kredit. Fasilitas ini dikenakan suku bunga tetap           a fixed interest rate of 3% per annum starting
           sebesar 3% per tahun mulai periode Januari                 from January 2023 until the maturity due of the
           2023 sampai dengan jatuh tempo fasilitas.                  facility.

      Maybank                                                    Maybank

      Pada tanggal 6 Juli 2020, Grup memperoleh                  On 6 July 2020, the Group obtained restructurisation
      restrukturisasi fasilitas kredit dengan skema              of credit facility with musyarakah scheme from short
      musyarakah dari pinjaman jangka pendek menjadi             term loan to long term loan, with a maximum amount
      pinjaman jangka panjang, dengan jumlah                     of US$37,273,000 and a maturity date of 20 July
      maksimum sebesar AS$37.273.000 dan jatuh                   2023 at a fixed rate of 4.5% per annum. On 19
      tempo pada tanggal 20 Juli 2023 dengan suku                August 2021, the Group signed an Addendum
      bunga tetap sebesar 4,5% per tahun. Pada tanggal           Facility Agreement with Maybank, which revised
      19 Agustus 2021, Grup menandatangani Adendum               certain terms and conditions of the loan, including a
      Perjanjian Fasilitas dengan Maybank yang                   new schedule of repayments with a final maturity in
      mengubah beberapa syarat dan kondisi dari                  July 2027.
      pinjaman termasuk jadwal pembayaran dengan
      batas akhir pelunasan di Juli 2027.

      Pada tanggal 19 Juli 2022, Grup menandatangani             On 19 July 2022, Group has signed Addendum for
      Adendum Perjanjian Fasilitas dengan Maybank                Credit Facility with Maybank, which revised certain
      yang mengubah beberapa syarat dan kondisi dari             terms and conditions of the loan including a new
      pinjaman termasuk jadwal pembayaran dengan                 schedule of repayments with a final maturity in
      batas akhir pelunasan di Desember 2035. Fasilitas          December 2035. The overall facilities were borne at
      ini dikenakan suku bunga tetap sebesar 2,5% per            a fixed interest rate of 2.5% per annum until
      tahun sampai Desember 2027. Kenaikan 0,25%                 December 2027. Increase 0.25% per annum each
      per tahun untuk setiap tahun sampai dengan                 year until the facilities becomes due.
      tanggal jatuh tempo.

      Sehubungan dengan perjanjian ini, Grup                     In relation to this agreement, the Group has to
      diwajibkan memenuhi rasio keuangan: (a) rasio              comply with the following financial ratios: (a)
      lancar minimal 1 kali; (b) rasio utang dengan modal        minimum current ratio of one times; (b) maximum
      maksimal 3 kali; (c) rasio cakupan utang 100%.             debt to equity ratio of 3 times; and (c) debt service
      Pada tanggal 31 Desember 2022, Grup tidak dapat            coverage ratio of 100%. As at 31 December 2022,
      memenuhi persyaratan rasio keuangan. Sehingga              the Group did not comply with financial ratios.
      saldo pinjaman Maybank diklasifikasikan sebagai            Therefore, the outstanding loan from Maybank was
      liabilitas jangka pendek pada tanggal 31 Desember          classified as current liabilities as at 31 December
      2022.                                                      2022.

      Pada tanggal 29 Desember 2023, Grup                        On 29 December 2023, the Group obtained the
      mendapatkan   surat  dari   Maybank untuk                  letter form Maybank to waive the financial ratio until
      mengesampingkan kewajiban pemenuhan rasio                  December 2024.
      keuangan sampai Desember 2024.
Page 500
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/56 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)                13. LONG-TERM BANK BORROWINGS (continued)

     Maybank (lanjutan)                                       Maybank (continued)

     Total saldo pinjaman sebesar AS$36.154.809               The total outstanding         loan amounted to
     (31 Desember 2022: AS$36.900.270).                       US$36,154,809    (31           December    2022:
                                                              US$36,900,270).

     Pada tanggal 29 Agustus 2023 melalui Surat No.           On 29 August 2023 through Letter No.
     S.2023.110/MBI/DIR GLOBAL, Maybank telah                 S.2023.110/MBI/DIR GLOBAL, Maybank has given
     memberikan persetujuan untuk proses pengikatan           approval for the collateral binding process with a
     jaminan dengan porsi paripassu terkait dengan            paripassu portion related to the BRI Credit
     perjanjian kredit BRI Adendum III Perjanjian Kredit      Agreement Addendum III Credit Agreement No. 26
     No. 26 tanggal 29 Desember 2023 (lihat Catatan 13        dated 29 December 2023 (see Note 13 - BRI).
     - BRI).

     IIF                                                      IIF

     Pada tanggal 24 September 2018, Grup                     On 24 September 2018, the Group obtained a
     memperoleh fasilitas kredit modal kerja dari IIF         working capital credit facility from IIF, with a
     dengan nilai maksimum sebesar AS$35.000.000,             maximum amount of US$35,000,000, a maturity
     yang jatuh tempo pada tanggal 23 September 2021          date period until 23 September 2021, and at a
     dengan suku bunga mengambang sebesar LIBOR               floating interest rate of LIBOR plus 2.5% per annum.
     ditambah 2,5% per tahun. Pada 16 Oktober 2020,           On 16 October 2020, the Group extended the
     Grup memperpanjang tanggal jatuh tempo hingga            maturity date to 24 December 2022.
     24 Desember 2022.

     Pada tanggal 6 September 2021, Grup                      On 6 September 2021, the Group signed an
     menandatangani Adendum Perjanjian Fasilitas              Addendum Facility Agreement with IIF, which
     dengan IIF yang mengubah beberapa syarat dan             revised certain terms and conditions of the loan
     kondisi dari pinjaman termasuk jadwal pembayaran         including a new schedule of repayments with a final
     dengan batas akhir pelunasan di Juli 2026 dengan         maturity in July 2026 with floating interest rate of
     suku bunga mengambang LIBOR ditambah 3,5%                LIBOR plus 3.5% per annum and to waive the
     per tahun serta mengesampingkan kewajiban                financial ratio covenants until the loan due date.
     memenuhi rasio keuangan sampai fasilitas jatuh
     tempo.

     Pada tanggal 1 September 2022, Grup                      On 1 September 2022, the Group signed an
     menandatangani Adendum Perjanjian Fasilitas              Addendum Facility Agreement with IIF, which
     dengan IIF yang mengubah beberapa syarat dan             revised certain terms and conditions of the loan
     kondisi dari pinjaman termasuk jadwal pembayaran         including a new schedule of repayments with a final
     dengan batas akhir pelunasan di Desember 2035            maturity in December 2035 with floating interest rate
     dengan suku bunga mengambang LIBOR ditambah              of LIBOR plus 3.5% per annum. The total
     3,5% per tahun. Total saldo pinjaman per 31              outstanding loan as at 31 Desember 2023
     Desember 2023 sebesar AS$24.047.917 (31                  amounted to US$24,047,917 (31 December 2022:
     Desember 2022: AS$24.543.750).                           US$24,543,750).

     Pada tanggal 15 Mei 2023, Grup mendapatkan               On 15 May 2023, the Group received a interest rate
     perubahan suku bunga Perjanjian Fasilitas dengan         change of the Facility Agreement with IIF to SOFR
     IIF menjadi SOFR ditambah Credit Adjustment              plus Credit Adjustment Spread (CAS) 0.1148% plus
     Spread (CAS) 0,1148% ditambah margin 3,5%.               a margin of 3.5%.
Page 501
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/57 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                     31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)         (Expressed in US Dollars, unless otherwise stated)


13. PINJAMAN BANK JANGKA PANJANG (lanjutan)              13. LONG-TERM BANK BORROWINGS (continued)

    IIF (lanjutan)                                          IIF (continued)

    Sehubungan dengan perjanjian ini, Grup diwajibkan       In relation in this agreement, the Group has to
    memenuhi rasio keuangan rasio DSCR 1.25 kali.           comply with the following financial ratios of DSCR
    Grup mendapatkan pengesampingan kewajiban               ratio of 1.25 times. The Group has obtained waiver
    pemenuhan rasio keuangan hingga laporan                 for the financial ratio covenants until 31 December
    keuangan konsolidasian 31 Desember 2028.                2028.

    Pada tanggal 30 Oktober 2023 melalui Surat No.          On 30 October 2023 through Letter No.
    S.1829/X/IIF/2023,   IIF     telah    memberikan        S.1829/X/IIF/2023, IIF has given approval for the
    persetujuan untuk proses pengikatan jaminan             collateral binding process with a paripassu portion
    dengan porsi paripassu terkait dengan perjanjian        related to the BRI Credit Agreement Addendum III
    kredit BRI Adendum III Perjanjian Kredit No. 26         Credit Agreement No. 26 dated 29 December 2023
    tanggal 29 Desember 2023 (lihat Catatan 13 - BRI).      (see Note 13 - BRI).

    CTBC                                                    CTBC

    Pada     tanggal     17    Januari  2023,    Grup       On 17 January 2023, the Group signed an
    menandatangani Perjanjian Restrukturisasi dengan        Amendment Restructuring Agreement with CTBC,
    CTBC, dimana fasilitas tersebut direstrukturisasi       which the facility was restructured to a long-term
    menjadi pinjaman jangka panjang dengan jangka           loan with a final maturity date of 12 years until 2035.
    waktu 12 tahun sampai dengan tahun 2035. Jumlah         The total amount of restructured facility is amounting
    keseluruhan fasilitas yang telah direstrukturisasi      US$15,811,000. The overall amended facilities were
    sebesar AS$15.811.000. Fasilitas ini dikenakan          borne at a floating interest rate of one-month SOFR
    suku bunga mengambang SOFR satu bulanan                 plus 0.5% per annum until December 2025, plus
    ditambah 0,5% per tahun sampai Desember 2025,           1.0% per annum until December 2030 and plus
    ditambah 1,0% per tahun sampai Desember 2030            1.25% per annum until December 2035. The Group
    dan ditambah 1,25% per tahun sampai dengan              has assessed the gain from the loan restructuring is
    Desember 2035. Grup menilai keuntungan dari             amounting US$472,181.
    restrukturisasi pinjaman sebesar AS$472.181.

    Sehubungan dengan perjanjian ini, Grup diwajibkan       In relation to this agreement, the Group has to
    memenuhi rasio keuangan: (a) rasio hutang (Debt)        comply with the following financial ratios: (a)
    terhadapat EBITDA maksimal 6 kali, (b) Rasio Debt       maximum debt ratio to EBITDA of 6 times; and (b)
    Service Coverage Ratio (DSCR) minimal 1,1 kali.         minimum Debt Service Coverage Ratio of 1.1 times.
    Grup    telah   mendapatkan      pengesampingan         The Group has obtained waiver for the financial ratio
    kewajiban memenuhi rasio keuangan sampai                covenants until December 2025.
    Desember 2025.

    Pada tanggal 31 Desember 2023, total saldo              As at 31 December 2023, total outstanding loan
    pinjaman sebesar AS$15.811.000.                         amounted to US$15,811,000.

    Dalam perjanjian ini, diatur pembatasan yang harus      In this agreement, there is restriction that has to be
    dipenuhi oleh Grup untuk tidak menjaminkan aset         fulfilled by the Group to not pledge any assets to
    dalam bentuk apapun kepada kreditur lainnya.            other creditors.

    Pada tanggal 29 Agustus 2023 melalui Surat No.          On 29 August 2023 through Letter No.
    MKR/ECT/185/VIII/2023, CTBC telah memberikan            MKR/ECT/185/VIII/2023, CTBC has given approval
    persetujuan untuk proses pengikatan jaminan             for the collateral binding process with a paripassu
    dengan porsi paripassu terkait dengan perjanjian        portion related to the BRI Credit Agreement
    kredit BRI Adendum III Perjanjian Kredit No. 26         Addendum III Credit Agreement No. 26 dated 29
    tanggal 29 Desember 2023 (lihat Catatan 13 - BRI).      December 2023 (see Note 13 - BRI).
Page 502
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/58 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


14. PERPAJAKAN                                             14. TAXATION

    a.   Pajak dibayar dimuka                                 a.    Prepaid taxes

                                           2023                2022

         Pajak Penghasilan Badan:                                                         Corporate Income Tax:
         Perusahaan                                                                              The Company
           Tahun 2023                        1,558,046                     -                       Year 2023
           Tahun 2022                          851,211               851,211                       Year 2022
           Tahun 2021                        1,802,131             1,802,131                       Year 2021
           Tahun 2020                                -             1,918,079                       Year 2020

                                             4,211,388             4,571,421

         Entitas anak                                                                              Subsidiaries
           Tahun 2023                          409,231                    -                        Year 2023
           Tahun 2022                          159,004               67,590                        Year 2022
           Tahun 2021                           81,575              328,822                        Year 2021
           Tahun 2020                          181,973               60,695                        Year 2020
           Tahun 2019                                -              209,188                        Year 2019

                                               831,783              666,295

                                             5,043,171          5,237,716
         Bagian jangka panjang              (5,043,171)        (5,237,716)                   Non-current portion

         Bagian jangka pendek                          -                   -                      Current portion

         Pajak lain-lain:                                                                           Other taxes:
         Perusahaan                                                                               The Company
           Pajak Pertambahan
             Nilai (“PPN”)                   8,382,880             5,796,487        Value Added Taxes (“VAT”)

         Entitas anak                                                                              Subsidiaries
           PPN                                 154,145                     -                            VAT

                                             8,537,025             5,796,487
         Bagian jangka panjang              (5,815,021)                    -                 Non-current portion

         Bagian jangka pendek                2,722,004             5,796,487                      Current portion


    b.   Utang pajak                                          b.    Taxes payable

                                           2023                2022
         Pajak lain-lain:                                                                           Other taxes:
         Perusahaan                                                                               The Company
           Pasal 21                          4,621,642             1,435,323                        Article 21
           Pasal 23                            603,111                10,656                        Article 23
           Pasal 4(2)                          216,542                34,498                       Article 4(2)
           Pasal 26                            119,840                18,650                        Article 26

                                             5,561,135             1,499,127
Page 503
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/59 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


14. PERPAJAKAN (lanjutan)                                 14. TAXATION (continued)

    b.   Utang pajak (lanjutan)                               b.     Taxes payable (continued)

         Entitas anak                                                                                Subsidiaries
           Pasal 21                            356,042              160,884                           Article 21
           Pasal 23                             30,869                    -                           Article 23
           Pasal 4(2)                            1,022                  210                          Article 4(2)
           PPN                                 540,075              222,009                                 VAT

                                               928,008              383,103

                                             6,489,143             1,882,230

    c.   Manfaat/ beban pajak penghasilan                    c.     Income tax benefit/expenses

                                           2023               2022

         Beban pajak kini                         1,056             126,256                  Current tax expenses

         (Manfaat)/beban                                                                   Deferred tax (benefits)/
           pajak tangguhan                    (439,721)            1,748,718                          expenses

         (Manfaat)/beban                                                                     Income tax (benefits)/
           pajak penghasilan                  (438,665)            1,874,974                          expenses

         Laba konsolidasian sebelum                                                            Consolidated profit
           pajak penghasilan                19,730,024             5,503,305                  before income tax

         (Dikurangi)/ditambah:                                                                      (Deduct)/add:
         Eliminasi konsolidasi                (895,840)            (258,462)            Consolidation eliminations
         Rugi sebelum pajak
           penghasilan - entitas                                                          Loss before income tax -
           anak                              1,225,917              276,485                        subsidiaries

         Laba sebelum pajak                                                              Profit before income tax -
           penghasilan - Perusahaan         20,060,101             5,521,328                       the Company

         Beda temporer:                                                                    Temporary differences:
         Liabilitas imbalan kerja            1,991,600         (2,328,125)             Employee benefits liabilities
         Penyusutan aset                                                                            Depreciation of
           hak guna                          4,878,986             3,151,685                 right-of-use assets
         Provisi/(pemulihan)                                                               Provision/(recovery) for
           penurunan nilai                                                               impairment of contract
           aset kontrak dan piutang          5,088,679        (10,926,644)              assets and receivables
         Pemulihan atas penurunan                                                         Recovery for impairment
           nilai aset tetap                 (8,183,096)                    -                     of fixed assets
         Penyusutan                          1,870,950             1,183,285                           Depreciation

                                             5,647,119         (8,919,799)
Page 504
                                PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                     DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/60 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


14. PERPAJAKAN (lanjutan)                                 14. TAXATION (continued)

    c.   Manfaat/ beban pajak penghasilan (lanjutan)         c.    Income tax benefit/expenses (continued)

                                           2023               2022

         Beda permanen:                                                                    Permanent differences:
         Beban yang tidak dapat
           dikurangkan secara pajak/
           (penghasilan)                                                                Non-deductible expenses/
           tidak kena pajak                 13,573,033         (3,106,893)               non-taxable (income)
         Bagian atas rugi bersih                                                               Share of net loss
           entitas anak                        895,840             258,462                     of subsidiaries
         Penghasilan keuangan yang
           dikenakan pajak final              (272,577)           (121,507)     Income subject to final income tax

                                            14,196,296         (2,969,938)

         Taksiran laba/(rugi) fiskal -                                               Estimated tax income/(loss) -
           Perusahaan                       39,903,516         (6,368,409)                       the Company

         Pemanfaatan akumulasi                                                                      Utilisation of
           rugi fiskal                      39,903,516                    -             accumulated tax losses

         Beban pajak
           penghasilan kini                                                                 Current tax expenses
           - Perusahaan                               -                  -                     the Company -
           - Entitas anak                         1,056            126,256                      Subsidiaries -

         Beban pajak
           penghasilan                                                                   Consolidated current tax
           kini konsolidasian                     1,056            126,256                          expenses

         Perhitungan pajak penghasilan kini dilakukan              Current income tax computations are based on
         berdasarkan estimasi penghasilan kena pajak.              estimated taxable income. The amounts may be
         Nilai tersebut mungkin disesuaikan saat SPT               adjusted when annual tax returns are filed with
         tahunan disampaikan ke Direktorat Jenderal                the Directorate General of Tax (“DGT”).
         Pajak (“DJP”).

         Rekonsiliasi antara beban pajak penghasilan               The reconciliation between the income tax
         dengan jumlah pajak teoritis atas laba                    expenses and the theoretical tax amount on the
         konsolidasian sebelum pajak penghasilan                   consolidated profit before income tax is as
         adalah sebagai berikut:                                   follows:

                                           2023               2022

         Laba konsolidasian
           sebelum pajak                                                                      Consolidated profit
           penghasilan                      19,730,024            5,503,305                  before income tax

         Pajak penghasilan dihitung
           dengan tarif pajak yang                                                                  Income tax at
           berlaku                           4,340,605            1,210,727                     applicable rate
         Penghasilan yang                                                                       Income subject to
           dikenakan pajak final               (59,967)             (26,732)                           final tax
         Beban yang tidak dapat
           dikurangkan secara pajak/
           (penghasilan)                                                                Non-deductible expenses/
           tidak kena pajak                  3,183,152            (626,654)              non-taxable (income)
Page 505
                                      PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                           DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                          Lampiran 5/61 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                               31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                                   (Expressed in US Dollars, unless otherwise stated)


14. PERPAJAKAN (lanjutan)                                                      14. TAXATION (continued)

    c.   Manfaat/ beban pajak penghasilan (lanjutan)                                 c.     Income tax benefit/expenses (continued)

                                                          2023                         2022

         Pengakuan aset pajak                                                                                        Recognition of previously
           tangguhan dari                                                                                         unrecognised deferred tax
           akumulasi rugi pajak yang                                                                               assets from accumulated
           sebelumnya tidak diakui                        (7,218,511)                                 -                             tax loss
         Aset pajak tangguhan                                                                                          Unrecognised deferred
           yang tidak diakui                                (683,944)                     1,317,633                              tax assets

         (Manfaat)/beban pajak                                                                                         Consolidated income tax
           penghasilan konsolidasian                        (438,665)                     1,874,974                      (benefits)/expenses

    d.   Aset pajak tangguhan                                                        d.     Deferred tax assets
                                                                                2023
                                                                                             Dikreditkan /
                                                                                            (dibebankan)
                                                              Dikreditkan /                 pada laporan
                                                              (dibebankan)                  konsolidasian
                                                              pada laporan                  komprehensif
                                                                laba rugi                      lainnya/
                                                             konsolidasian/                    credited/
                                                                credited/                    (charged) to
                                       1 Januari/             (charged) to                  consolidated         31 Desember/
                                        January               consolidated                 comprehensive          December
                                          2023                profit or loss                    income               2023

                                                                                                                                              Provision for
         Provisi atas                                                                                                                      impairment of
           penurunan nilai                                                                                                               contract assets
           aset kontrak dan piutang            159,013                   226,590                            -             385,603       and receivables
         Penyusutan                        (11,164,940)                  411,608                     (129,928)        (10,883,260)            Depreciation
         Penyusutan aset                                                                                                                    Depreciation of
           hak guna                         (8,645,878)                1,004,619                             -         (7,641,259)   right-of-use assets
         Liabilitas sewa                     9,868,582                    68,758                             -          9,937,340           Lease liabilities
                                                                                                                                                 Employee
          Liabilitas imbalan kerja           5,441,870                   438,152                     220,230            6,100,252      benefits liabilities
         Akumulasi kerugian                                                                                                                     Tax losses
          pajak                             11,228,922                 (1,710,006)                           -          9,518,916        carried forward

         Aset pajak                                                                                                                   Deferred tax assets
          tangguhan - bersih                 6,887,569                   439,721                      90,302            7,417,592                 - net

                                                                                2022
                                                                                            (Dibebankan)/
                                                                                              dikreditkan
                                                             (Dibebankan)/                   pada laporan
                                                               dikreditkan                  konsolidasian
                                                              pada laporan                  komprehensif
                                                                laba rugi                       lainnya/
                                                             konsolidasian/                   (Charged)/
                                                               (Charged)/                     credited to
                                       1 Januari/              credited to                   consolidated        31 Desember/
                                        January               consolidated                 comprehensive          December
                                          2022                profit or loss                    income               2022


         (Pemulihan)/provisi atas                                                                                                    (Recovery)/provision
            penurunan nilai                                                                                                            for impairment of
            aset kontrak dan                                                                                                             contract assets
            piutang                          2,442,681                 (2,283,668)                         -              159,013       and receivables
         Penyusutan                        (11,438,791)                   260,323                     13,528          (11,164,940)            Depreciation
         Penyusutan aset                                                                                                                    Depreciation of
            hak guna                        (5,922,340)                (2,723,538)                           -         (8,645,878)   right-of-use assets
         Liabilitas sewa                     6,451,673                  3,416,909                            -          9,868,582           Lease liabilities
                                                                                                                                                 Employee
         Liabilitas imbalan kerja            7,046,008                  (512,188)                  (1,091,950)          5,441,870      benefits liabilities
         Akumulasi kerugian                                                                                                                     Tax losses
            pajak                           11,135,478                    93,444                             -         11,228,922        carried forward

         Aset pajak                                                                                                                   Deferred tax assets
            tangguhan - bersih               9,714,709                 (1,748,718)                 (1,078,422)          6,887,569                 - net
Page 506
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/62 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


14. PERPAJAKAN (lanjutan)                                 14. TAXATION (continued)

    d.   Aset pajak tangguhan (lanjutan)                     d.     Deferred tax assets (continued)

         Pada tanggal 31 Desember 2023, Grup tidak                  As at 31 December 2023, the Group did not
         mengakui aset pajak tangguhan sebesar                      recognise deferred tax assets amounting to
         AS$0,68 juta dari laba pajak sejumlah                      US$0.68 million from the tax income of
         AS$39,90 juta (2022: aset pajak tangguhan                  US$39.90 million (2022: deferred tax assets
         sebesar AS$1,32 juta dari rugi pajak sejumlah              amounting to US$1.32 million from the tax
         AS$6,37 juta), karena tidak terdapat kepastian             losses of US$6.37 million), as it is uncertain that
         bahwa jumlah laba fiskal pada masa datang                  future taxable profits will be available against
         akan memadai untuk mengkompensasi                          which the temporary differences can be utilised.
         perbedaan temporer yang menimbulkan aset
         pajak tangguhan tersebut.

    e.   Administrasi                                        e.     Administration

         Berdasarkan Undang-Undang Perpajakan                       Under the taxation laws of Indonesia, each
         yang berlaku di Indonesia, tiap perusahaan di              company within the Group submits tax returns
         dalam    Grup     menghitung     sendiri  dan              on the basis of self assessment. The DGT may
         menyetorkan besarnya jumlah pajak yang                     assess or amend taxes within five years of the
         terutang. DJP dapat menetapkan atau                        time the tax becomes due.
         mengubah liabilitas pajak tersebut dalam batas
         waktu lima tahun sejak saat terutangnya pajak.

    f.   Surat ketetapan pajak                               f.     Tax assessment letters

         Pada bulan April 2023, Grup menerima Surat                 In April 2023, the Group received Tax
         Ketetapan Pajak Lebih Bayar atas Pajak                     Assessment Letter confirming an Overpayment
         Penghasilan Badan tahun pajak 2020 sebesar                 of Corporate Income Tax fiscal year 2020
         Rp29,55 miliar (setara dengan AS$1,98 juta)                amounting to Rp29.55 billions (equivalent to
         dari klaim Rp29,55 miliar (setara dengan                   US$1.98 million) out of the claimed Rp29.55
         AS$1,98 juta). Grup menerima keputusan ini                 billions (equivalent to US$1.98 million). The
         dan telah menerima pengembalian pajak                      Group accepted the result and received the tax
         tersebut di bulan Mei 2023.                                refund in May 2023.


15. LIABILITAS IMBALAN KERJA                              15. EMPLOYEE BENEFIT LIABILITIES

    Grup menyediakan imbalan pasca-kerja berupa               The Group provides post-employment defined
    program iuran pasti dan manfaat pasti dan imbalan         contribution plans, defined post-employment plans
    kerja jangka panjang lain untuk karyawan yang             and other long-term benefits covering its qualifying
    memenuhi persyaratan program.                             employees for each program.

    a.   Imbalan pascakerja                                   a.    Post-employment benefits

         Program iuran pasti                                        Defined contribution plan

         Grup menyelenggarakan program pensiun iuran                The Group established a defined contribution
         pasti untuk seluruh karyawan tetapnya yang                 pension plan for all of its qualifying their
         memenuhi persyaratan. Program pensiun                      permanent employees. The pension plan is
         tersebut dikelola oleh Dana Pensiun Garuda                 managed by Dana Pensiun Garuda Indonesia
         Indonesia (“DPGA”), yang akta pendiriannya                 (“DPGA”), whose Deed of Establishment was
         telah disahkan oleh Menteri Keuangan Republik              approved by the Minister of Finance of the
         Indonesia dengan Surat Keputusan No.                       Republic of Indonesia in his Decision Letter No.
         KEP-403/KM.17/1999 tanggal 15 November                     KEP-403/KM.17/1999 dated 15 November
         1999. Iuran dana pensiun berjumlah sama                    1999. The pension contributions are equivalent
         dengan 7,5% dari gaji dasar karyawan dimana                to 7.5% of employees’ base salaries wherein
         sebesar 2% ditanggung karyawan dan sisanya                 2% is assumed by the employees and the
         ditanggung Grup.                                           difference is assumed by the Group.
Page 507
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/63 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


15. LIABILITAS IMBALAN KERJA (lanjutan)                   15. EMPLOYEE BENEFIT LIABILITIES (continued)

    a.   Imbalan pascakerja (lanjutan)                       a.   Post-employment benefits (continued)

         Program iuran pasti (lanjutan)                           Defined contribution plan (continued)

         Grup menyediakan imbalan pasca-kerja berupa              The Group provides post-employment defined
         program iuran pasti dan manfaat pasti dan                contribution plans, defined post-employment
         imbalan kerja jangka panjang lain untuk                  plans and other long-term benefits covering its
         karyawan    yang   memenuhi     persyaratan              qualifying employees for each program.
         program.

         Sesuai dengan amandemen Perjanjian Kerja                 In accordance with the amendments to the
         Bersama (“PKB”) dan Peraturan Grup (“PP”)                Cooperation Employee Agreement (“PKB”) and
         pada tahun 2016. Grup menyelenggarakan                   the Group Regulation (“PP”) in 2016, the Group
         tambahan program pensiun iuran pasti. Oleh               provides an additional defined contribution
         karena      itu.   Grup     mengikutsertakan             pension plan. Accordingly, the Group enrolled
         karyawannya dalam program pensiun iuran                  its employees in the defined contribution
         pasti yang dikelola Dana Pensiun Lembaga                 pension program which is managed by Dana
         Keuangan (“DPLK”) BNI.      Grup membayar                Pensiun Lembaga Keuangan (“DPLK”) BNI.
         kontribusi iuran sebesar 6% dari gaji dasar              The Group pays a contribution fee of 6% of
         karyawan dan ditambah iuran khusus untuk                 employees’ basic salaries and additional
         karyawan yang akan pensiun.                              specific contributions for retiring employees.

         Beban iuran pasti yang diakui dalam beban                Contribution expenses recognised under
         operasi   sebesar   AS$3,10   juta  (2022:               operating expenses amounted to US$3.10
         AS$4,99 juta).                                           million (2022: US$4.99 million).

         Program imbalan pasti                                    Defined benefit plan

         Grup memberikan imbalan kepada karyawan                  The Group provides benefits to its qualifying
         yang memenuhi persyaratan sesuai dengan                  employees in accordance with the Group’s
         kebijakan Grup yang telah sesuai dengan                  policies which are in compliance to applicable
         peraturan yang berlaku terkait dengan tenaga             regulations related to manpower. The Group
         kerja. Grup memperhitungkan akumulasi iuran              has to treat the accumulation of contributions
         yang dibayar kepada DPGA sebagai pengurang               that have been paid to DPGA as deduction to
         liabilitas program imbalan pasti sesuai dengan           the defined benefit plan obligations in
         peraturan Grup.                                          accordance with the Group’s policies.

    b.   Imbalan kerja jangka panjang lain                   b.   Other long-term benefits

         Grup memberikan imbalan kerja jangka panjang             The Group provides other long-term benefits
         lain berupa penghargaan kepada karyawan                  such as awards to employees who have
         yang telah bekerja selama 20 tahun                       already rendered 20 years of service (long
         (penghargaan masa bakti) sesuai dengan                   service award) in accordance with the Group’s
         kebijakan Grup. Tidak terdapat pendanaan                 policies. No funding has been made by
         yang disisihkan Grup terkait dengan imbalan              the Group in connection with this employment
         kerja ini.                                               benefit.
Page 508
                                    PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                         DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                     Lampiran 5/64 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                           (Expressed in US Dollars, unless otherwise stated)


15. LIABILITAS IMBALAN KERJA (lanjutan)                                 15. EMPLOYEE BENEFIT LIABILITIES (continued)

    Pada tanggal 31 Desember 2023 dan 2022,                                   As at 31 December 2023 and 2022, the cost of
    perhitungan imbalan kerja program imbalan pasti                           providing the defined benefit plan and other long-
    dan imbalan kerja jangka panjang lain dihitung                            term benefits has been calculated by PT Padma
    oleh PT Padma Radya Aktuaria, aktuaris                                    Radya Aktuaria, an independent actuary, using the
    independen, dengan menggunakan asumsi utama                               following key assumptions:
    sebagai berikut:

                                                    2023                              2022

    Tingkat diskonto                              6.75%                              7.25%                                  Discount rate
    Tingkat kenaikan gaji                            7%                                 7%                   Future salary increment rate
    Tingkat kematian                            100% TMI4                          100% TMI4                                 Mortality rate
    Tingkat cacat                                   10%                                10%                                  Disability rate
    Tingkat pengunduran diri               5% per tahun sampai                5% per tahun sampai                        Resignation rate
                                          usia 25 tahun menurun              usia 25 tahun menurun
                                         secara garis lurus sampai          secara garis lurus sampai
                                      1% per tahun pada usia 46 tahun    1% per tahun pada usia 46 tahun
                                          dan seterusnya konstan             dan seterusnya konstan
                                               1% per tahun/                      1% per tahun/
                                          5% p.a. until age 25 and           5% p.a. until age 25 and
                                           decreasing linearly to             decreasing linearly to
                                             1% p.a. at age 46                  1% p.a. at age 46
                                           and 1% p.a. thereafter             and 1% p.a. thereafter
    Tingkat pensiun normal                     56 tahun/years                     56 tahun/years                   Normal retirement rate

    Rata-rata durasi kewajiban imbalan pasti adalah                           The weighted average duration of the defined
    15,72 tahun (2022: 15,02 tahun).                                          benefit obligation is 15.72 years (2022: 15.02 years).

    Jumlah kewajiban imbalan pascakerja yang diakui                           The amounts of the post-employment benefit
    pada laporan posisi keuangan konsolidasian                                obligation recognised in the consolidated statements
    ditentukan sebagai berikut:                                               of financial position are determined as follow:

                                                                  2023
                                                             Imbalan kerja
                                                                 jangka
                                             Program            panjang
                                              imbalan           lainnya/
                                               pasti/             Other
                                              Defined          long-term            Jumlah/
                                            benefit plan        benefits             Total

    Nilai kini liabilitas imbalan             22,912,271           4,816,145         27,728,416
       kerja                                                                                                 Present value obligation
    Dikurangi:                                                                                                                  Less:
    Liabilitas imbalan kerja                                                                                 Present value obligation
       - jangka pendek                         (3,274,853)                -          (3,274,853)                         current -

    Nilai kini liabilitas imbalan                                                                            Present value obligation
       kerja - jangka panjang                 19,637,418           4,816,145         24,453,563                     non-current –
Page 509
                                    PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                         DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                 Lampiran 5/65 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                     31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                         (Expressed in US Dollars, unless otherwise stated)


15. LIABILITAS IMBALAN KERJA (lanjutan)                         15. EMPLOYEE BENEFIT LIABILITIES (continued)

                                                              2022
                                                         Imbalan kerja
                                                             jangka
                                          Program           panjang
                                           imbalan          lainnya/
                                            pasti/            Other
                                           Defined         long-term             Jumlah/
                                         benefit plan       benefits              Total

    Nilai kini liabilitas imbalan
       kerja                               21,117,266        3,649,960            24,767,226               Present value obligation
    Dikurangi:                                                                                                                Less:
    Liabilitas imbalan kerja                                                                               Present value obligation
       - jangka pendek                     (2,704,588)                   -        (2,704,588)                          current -

    Nilai kini liabilitas imbalan                                                                          Present value obligation
       kerja - jangka panjang              18,412,678        3,649,960            22,062,638                       non-current -


    Mutasi kewajiban imbalan kerja adalah sebagai                    The movements in the employee benefit obligations
    berikut:                                                         are as follow:

                                                              2023
                                                         Imbalan kerja
                                                             jangka
                                          Program           panjang
                                           imbalan          lainnya/
                                            pasti/            Other
                                           Defined         long-term             Jumlah/
                                         benefit plan       benefits              Total

    Nilai kini liabilitas imbalan                                                                  Present value employee benefits
       kerja - awal tahun                  21,117,266        3,649,960            24,767,226 obligation - at beginning of the year

    Biaya jasa kini                         1,743,388          466,929             2,210,317                   Current service cost
    Beban bunga                             1,493,205          274,272             1,767,477                      Interest expense
    Pengukuran kembali                              -          364,321               364,321                      Remeasurement

    Dibebankan ke dalam laba rugi                                                                          Charged to consolidated
      konsolidasian (Catatan 22)            3,236,593        1,105,522             4,342,115              profit or loss (Note 22)

    Pengukuran kembali                                                                                Remeasurement on liabilities
      liabilitas akibat:                                                                                                due to:
    - Penyesuaian pengalaman                  171,565                    -          171,565              Experience adjustment -
    - Perubahan                                                                                                      Change in -
         asumsi keuangan                      829,481                    -          829,481            financial assumptions

    Dikreditkan ke dalam penghasilan                                                               Credited to other comprehensive
      komprehensif lain                     1,001,046                    -         1,001,046                             income

    Imbalan yang dibayarkan                (2,866,501)               -            (2,866,501)                    Benefit payments
    Perubahan kurs                            423,867           60,663               484,530          Foreign exchange differences

    Mutasi lain                            (2,442,634)          60,663            (2,381,971)                    Other movements

    Nilai kini liabilitas imbalan                                                                  Present value employee benefits
       kerja - akhir tahun                 22,912,271        4,816,145            27,728,416       obligation - at the end of year
Page 510
                                    PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                         DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                        Lampiran 5/66 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                               (Expressed in US Dollars, unless otherwise stated)


15. LIABILITAS IMBALAN KERJA (lanjutan)                                    15. EMPLOYEE BENEFIT LIABILITIES (continued)

                                                                    2022
                                                               Imbalan kerja
                                                                   jangka
                                             Program              panjang
                                              imbalan             lainnya/
                                               pasti/               Other
                                              Defined            long-term              Jumlah/
                                            benefit plan          benefits               Total

    Nilai kini liabilitas imbalan                                                                         Present value employee benefits
       kerja - awal tahun                      28,962,530           3,074,696            32,037,226 obligation - at beginning of the year

    Penyesuaian atas perubahan                                                                                              Adjustment due to
      metode atribusi                            (591,756)                  -              (591,756)         changes in attribution method
    Biaya jasa kini                             1,782,987             468,486             2,251,473                      Current service cost
    Biaya jasa lalu                                 6,215             439,749               445,964                          Past service cost
    Beban bunga                                 1,656,646             244,430             1,901,076                           Interest expense
    Pengukuran kembali                                  -            (244,647)             (244,647)                          Remeasurement

    Dibebankan ke dalam laba rugi                                                                                       Charged to consolidated
      konsolidasian (Catatan 22)                2,854,092             908,018             3,762,110                    profit or loss (Note 22)

    Pengukuran kembali                                                                                         Remeasurement on liabilities
      liabilitas akibat:                                                                                                           due to:
    - Penyesuaian pengalaman                   (2,432,727)                     -         (2,432,727)               Experience adjustment -
    - Perubahan                                                                                                                  Change in -
         asumsi keuangan                             376,204                   -             376,204             financial assumptions
    - Penyesuaian atas perubahan                                                                                        Adjustment due to -
         metode atribusi                       (2,889,850)                     -         (2,889,850)      changes in attribution method

    Dikreditkan ke dalam penghasilan                                                                         Credited to other comprehensive
      komprehensif lain                        (4,946,373)                     -         (4,946,373)                               income

    Imbalan yang dibayarkan                    (3,339,544)                  -            (3,339,544)                          Benefit payments
    Mutasi karyawan                                (3,056)                  -                (3,056)                       Employee transferred
    Perubahan kurs                             (2,410,383)           (332,754)           (2,743,137)               Foreign exchange differences

    Mutasi lain                                (5,752,983)           (332,754)           (6,085,737)                           Other movements

    Nilai kini liabilitas imbalan                                                                            Present value employee benefits
       kerja - akhir tahun                     21,117,266           3,649,960            24,767,226          obligation - at the end of year

    Asumsi aktuarial yang signifikan untuk penentuan                          Significant    actuarial    assumptions     for   the
    liabilitas imbalan kerja adalah tingkat diskonto dan                      determination of liabilities for employee benefit are
    kenaikan gaji yang diharapkan. Analisis sensitivitas                      discount rate and expected salary increase. The
    di bawah ini ditentukan berdasarkan masing-masing                         sensitivity analyses below have been determined
    perubahan asumsi yang mungkin terjadi pada akhir                          based on possible changes in the respective
    periode pelaporan, dengan semua asumsi lain                               assumptions occurring at the end of the reporting
    konstan.                                                                  period, while holding all other assumptions constant.

                                                     2023                                    2022
                                                         Imbalan kerja                            Imbalan kerja
                                      Program           jangka panjang        Program            jangka panjang
                                    imbalan pasti/          lainnya/        imbalan pasti/           lainnya/
                                       Defined          Other long-term        Defined           Other long-term
                                     benefit plan          benefits          benefit plan           benefits

    Tingkat diskonto                                                                                                                   Discount rate
       Tingkat diskonto +1%              (1,630,046)           (392,725)           (1,374,733)          (320,853)              Discount rate +1%
       Tingkat diskonto -1%               1,820,546             436,271             1,543,604            358,773               Discount rate -1%
    Tingkat kenaikan gaji                                                                                              Future salary increment rate
       Tingkat kenaikan gaji +1%          1,948,418             356,342             1,614,236           (298,187)     Salary increment rate +1%
       Tingkat kenaikan gaji -1%         (1,766,319)           (326,413)           (1,461,778)           271,098      Salary increment rate -1%
Page 511
                                   PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                        DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                         Lampiran 5/67 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                               31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                                   (Expressed in US Dollars, unless otherwise stated)


15. LIABILITAS IMBALAN KERJA (lanjutan)                                        15. EMPLOYEE BENEFIT LIABILITIES (continued)

    Analisis jatuh tempo yang diharapkan dari manfaat                              Expected maturity analysis of undiscounted pension
    pensiun yang tidak terdiskonto adalah sebagai                                  benefits is as follow:
    berikut:

                                                                       2023
                                            Kurang                 1 sampai 5             Lebih dari
                                         dari 1 tahun/               tahun/                5 tahun/
                                             Less                   Between                 Over 5
                                          than a year               1-5 years                years

    Program imbalan pasti                        3,274,853              12,962,586          162,015,885                            Defined benefit plan
    Imbalan kerja jangka                                                                                                               Other long-term
       panjang lainnya                                   -                   633,827         19,224,351                                     benefits

    Saldo akhir                                  3,274,853              13,596,413          181,240,236                                 Ending balance

                                                                       2022
                                            Kurang                 1 sampai 5             Lebih dari
                                         dari 1 tahun/               tahun/                5 tahun/
                                             Less                   Between                 Over 5
                                          than a year               1-5 years                years

    Program imbalan pasti                        2,704,588              13,867,401          150,063,228                            Defined benefit plan
    Imbalan kerja jangka                                                                                                               Other long-term
       panjang lainnya                                       -               125,266         20,005,382                                     benefits

    Saldo akhir                                  2,704,588              13,992,667          170,068,610                                 Ending balance



16. SEWA                                                                       16. LEASES

    a.   Jumlah yang diakui dalam laporan posisi                                   a.    Amounts recognised in the                     consolidated
         keuangan konsolidasian                                                          statement of financial position

         Tabel berikut menunjukkan rincian aset hak                                      The table shows details of right-of-use assets in
         guna dalam laporan       posisi keuangan                                        the Group’s consolidated statement of financial
         konsolidasian Grup:                                                             position:
                                                                            2023
                                   Saldo awal/                                                            Saldo akhir/
                                   Beginning             Penambahan/               Pengurangan/             Ending
                                    balance               Additions                 Deductions              balance

         Biaya perolehan:                                                                                                               Acquisition cost:
         Bangunan dan prasarana         5,745,534                       -                         -              5,745,534     Building and improvements
         Tanah                         45,551,921                       -                         -             45,551,921                           Land
         Peralatan dan                                                                                                                   Warehouse tools
            perlengkapan bengkel        2,434,519                       -                         -              2,434,519            and equipments
         Peralatan kantor dan                                                                                                           Office equipments
            komputer                    1,599,048                1,039,221                        -              2,638,269             and computers

                                       55,331,022                1,039,221                        -             56,370,243

         Akumulasi penyusutan:                                                                                                Accumulated depreciation:
         Bangunan dan prasarana        (2,412,782)                 (416,594)                      -             (2,829,376)    Building and improvements
         Tanah                        (10,469,073)               (4,385,357)                      -            (14,854,430)                          Land
         Peralatan dan                                                                                                                   Warehouse tools
            perlengkapan bengkel       (1,781,427)                (513,583)                       -             (2,295,010)           and equipments
         Peralatan kantor dan                                                                                                           Office equipments
            komputer                   (1,368,295)                (290,136)                       -             (1,658,431)            and computers

                                      (16,031,577)               (5,605,670)                      -            (21,637,247)

         Nilai buku bersih             39,299,445                                                               34,732,996                Net book value
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                                   PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
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                                                      Lampiran 5/68 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                           (Expressed in US Dollars, unless otherwise stated)


16. SEWA (lanjutan)                                                       16. LEASES (continued)

    a.   Jumlah yang diakui dalam laporan posisi                             a.   Amounts recognised in the consolidated
         keuangan konsolidasian (lanjutan)                                        statement of financial position (continued)

         Tabel berikut menunjukkan rincian aset hak                               The table shows details of right-of-use assets in
         guna    dalam    laporan     posisi  keuangan                            the Group’s consolidated statement of financial
         konsolidasian Grup: (lanjutan)                                           position: (continued)

                                                                     2022
                                   Saldo awal/                                                          Saldo akhir/
                                   Beginning          Penambahan/            Pengurangan/                 Ending
                                    balance            Additions              Deductions                  balance

         Biaya perolehan:                                                                                                             Acquisition cost:
         Bangunan dan prasarana         5,745,534                    -                          -              5,745,534     Building and improvements
         Tanah                         26,562,469           18,989,452                          -             45,551,921                           Land
         Peralatan dan                                                                                                                 Warehouse tools
            perlengkapan bengkel        2,434,519                    -                          -              2,434,519            and equipments
         Peralatan kantor dan                                                                                                         Office equipments
            komputer                    1,599,048                    -                          -              1,599,048             and computers

                                       36,341,570           18,989,452                          -             55,331,022

         Akumulasi penyusutan:                                                                                              Accumulated depreciation:
         Bangunan dan prasarana        (1,608,519)            (804,263)                         -             (2,412,782)    Building and improvements
         Tanah                         (5,572,756)          (4,896,317)                         -            (10,469,073)                          Land
         Peralatan dan                                                                                                                 Warehouse tools
            perlengkapan bengkel       (1,267,845)            (513,582)                         -             (1,781,427)           and equipments
         Peralatan kantor dan                                                                                                         Office equipments
            komputer                     (972,722)            (395,573)                             -         (1,368,295)            and computers

                                       (9,421,842)          (6,609,735)                     -                (16,031,577)

         Nilai buku bersih             26,919,728                                                             39,299,445                Net book value


         Tabel berikut menunjukkan rincian liabilitas                             The table shows details of lease liabilities in the
         sewa dalam laporan posisi keuangan                                       Group’s consolidated statement of financial
         konsolidasian Grup:                                                      position:

                                                     2023                     2022

         Liabilitas sewa bruto                                                                                       Gross lease liabilities
         - pembayaran sewa                                                                                     minimum lease payment -
                minimum
         Tidak lebih dari satu tahun                 14,962,108               16,357,660                            Not later than one year
         Lebih dari satu tahun dan                                                                             Over one year but not longer
           kurang dari lima tahun                    49,065,692               40,356,818                                   than five year
         Lebih dari lima tahun                       10,661,028               22,269,545                              Later than five years
         Beban di masa                                                                                                      Future charges
           depan atas sewa                           (22,557,212)             (27,602,378)                                      on leases

         Nilai kini liabilitas sewa                  52,131,616               51,381,645                   Present value of lease liabilities

         Nilai kini liabilitas sewa                                                                        Present value of lease liabilities
         Tidak lebih dari satu tahun                  9,778,332               11,125,566                           Not later than one year
         Lebih dari satu tahun dan                                                                           Over one year but not longer
           kurang dari lima tahun                    32,313,326               22,804,062                                  than five year
         Lebih dari lima tahun                       10,039,958               17,452,017                             Later than five years

                                                     52,131,616               51,381,645
         Dikurangi:                                                                                                                       Less:
         Bagian jangka pendek                         (9,778,332)             (11,125,566)                                       Current portion

         Bagian jangka panjang                       42,353,284               40,256,079                                    Non-current portion
Page 513
                                 PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                      DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                Lampiran 5/69 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                    (Expressed in US Dollars, unless otherwise stated)


16. SEWA (lanjutan)                                            16. LEASES (continued)

    a.   Jumlah yang diakui dalam laporan posisi                       a.   Amounts recognised in the consolidated
         keuangan konsolidasian (lanjutan)                                  statement of financial position (continued)

         Rincian jumlah liabilitas sewa adalah sebagai                      Details of lease liabilities are as follow:
         berikut:

                                               2023                    2022

         Pihak berelasi (Catatan 28)           50,210,105               49,612,912                   Related parties (Note 28)
         Pihak ketiga                           1,921,511                1,768,733                                Third parties

                                               52,131,616               51,381,645

    b.   Jumlah yang diakui dalam laporan laba/rugi                    b.   Amounts recognised in             the    consolidated
         konsolidasian                                                      statement of profit or loss

         Dalam laporan laba rugi konsolidasian, Grup                        In the consolidated statement of profit or loss,
         mengakui beban depresiasi atas aset hak guna                       the Group recognised depreciation expense on
         dan beban keuangan atas liabilitas sewa                            right-of-use assets and finance cost from the
         masing-masing sebesar AS$5,82 juta dan                             lease liabilities amounting to US$5.82 million
         AS$5,42 juta (2022: AS$6,61 juta dan AS$5,52                       and US$5.42 million (2022: US$6.61 million and
         juta).                                                             US$5.52 million), respectively.

         Grup mengakui beban yang berkaitan dengan                          The Group recognised expenses related short-
         sewa aset jangka pendek, sewa aset bernilai                        term lease, low value asset and variable lease
         rendah dan sewa variabel sebesar AS$5,87                           amounting to US$5.87 million (2022: US$5.26
         juta (2022: AS$5,26 juta). Pengeluaran kas                         million). Payment for lease principal amounting
         untuk pembayaran pokok sewa adalah AS$                             to US$5.89 million (2022: US$5.61 million).
         5,89 juta (2022: AS$5,61 juta).


17. MODAL SAHAM                                                17. SHARE CAPITAL

    Pemegang saham Grup pada tanggal 31 Desember                       The Group’s shareholders as at 31 December 2023
    2023 dan 2022 adalah sebagai berikut:                              and 2022 were as follows:

                                                             2023
                                                         Persentase          Total modal
                                       Total saham/     kepemilikan/           disetor/
                                        Number of        Percentage         Total paid-up
         Nama pemegang saham              shares        of ownership           capital               Name of shareholders

    Garuda                             25,156,058,796         89.10%          195,806,416                                     Garuda
    PT Aero Wisata                        254,101,604          0.90%            1,977,843                            PT Aero Wisata
    Andi Fahrurrozi (Direktur)                144,400          0.00%                1,086                   Andi Fahrurrozi (Director)
    Pudjo Sarwoko (Direktur)                   89,200          0.00%                  671                   Pudjo Sarwoko (Director)
    Irvan Pribadi (Direktur)                   62,800          0.00%                  472                     Irvan Pribadi (Director)
    Masyarakat (masing-masing
       dibawah 5% dari jumlah)          2,823,054,700         10.00%            21,229,167         Public (each below 5% of the total)
                                       28,233,511,500        100.00%          219,015,655

                                                             2022
                                                         Persentase          Total modal
                                       Total saham/     kepemilikan/           disetor/
                                        Number of        Percentage         Total paid-up
         Nama pemegang saham              shares        of ownership           capital               Name of shareholders

    Garuda                             25,156,058,796         89.10%          195,806,416                                     Garuda
    PT Aero Wisata                        254,101,604          0.90%            1,977,843                            PT Aero Wisata
    Pudjo Sarwoko (Direktur)                   89,200          0.00%                  671                   Pudjo Sarwoko (Director)
    Andi Fahrurrozi (Direktur)                 67,200          0.00%                  505                   Andi Fahrurrozi (Director)
    Masyarakat (masing-masing
      dibawah 5% dari jumlah)           2,823,194,700         10.00%            21,230,220         Public (each below 5% of the total)
                                       28,233,511,500        100.00%          219,015,655
Page 514
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/70 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


18. TAMBAHAN MODAL DISETOR                                   18. ADDITIONAL PAID-IN CAPITAL

                                             2023                2022

    Tambahan modal disetor                    1,142,271           1,142,271                  Additional paid-in capital
    Agio saham                               62,932,264          62,932,264                           Share premium
    Biaya emisi saham                        (1,813,319)         (1,813,319)                    Share issuance cost
    Pengampunan pajak                           156,020             156,020                              Tax amnesty

                                             62,417,236          62,417,236

    Tambahan modal disetor                                      Additional paid-in capital

    Akun ini merupakan selisih antara jumlah diterima           This account represents the difference between the
    atas utang jangka panjang kepada Garuda,                    amount received from a long-term loan to Garuda, a
    pemegang saham, di tahun 2013, dan nilai wajar              shareholder, in 2013, and fair value of the financial
    dari liabilitas keuangan sebesar Rp14.316.458.399           liability amounting to Rp14,316,458,399 (equivalent
    (setara dengan AS$1.523.027) dikurangi pajak                to US$1,523,027) net of tax amounting to
    sebesar       Rp3.579.114.600    (setara   dengan           Rp3,579,114,600 (equivalent to US$380,756).
    AS$380.756).

    Agio saham                                                  Share premium

    Agio saham berasal dari selisih antara harga                Share premium arose from the difference between
    penawaran saham sebesar Rp400 per saham dan                 the share offering price of Rp400 per share and the
    nilai nominal sebesar Rp100 per saham pada saat             nominal value of Rp100 per share at initial public
    penawaran umum perdana Grup pada tahun 2017                 offering in 2017 with a total aggregate amount of
    dengan        jumlah    keseluruhan     sebesar             Rp847,005,346,925 (equivalent to US$62,932,264).
    Rp847.005.346.925          (setara      dengan
    AS$62.932.264).

    Pengampunan pajak                                           Tax amnesty

    Grup mengikuti program Pengampunan Pajak                    The Group participated in a Tax Amnesty program
    dengan telah menyampaikan Surat Pernyataan                  and submitted an Asset Declaration Letter (“SPH”)
    Harta (“SPH”) kepada Menteri Keuangan Republik              for Tax Amnesty to the Finance Minister of the
    Indonesia. Permohonan Pengampunan Pajak Grup                Republic of Indonesia. The application for the Tax
    telah disetujui oleh Direktorat Jenderal Pajak melalui      Amnesty of the Group was approved by the
    Surat Keterangan Pengampunan Pajak No. KET-                 Directorate General of Taxes through Tax
    280/PP/WPJ.19/2017 pada tanggal 3 April 2017.               Remission      Certificate       No.     KET-280/PP/
    Grup membukukan aset pengampunan pajak                      WPJ.19/2017 dated 3 April 2017. The Group
    sebesar Rp2.078.500.000 (setara AS$156.020).                recorded tax amnesty assets amounting to
    Tidak terdapat liabilitas pengampunan pajak.                Rp2,078,500,000 (equivalent to US$156,020). There
                                                                are no tax amnesty liabilities recorded.

    Kenaikan Aset Pengampunan Pajak dicatat sebagai             An increase of Tax Amnesty Assets recorded as
    Tambahan Modal Disetor sebesar AS$156.020.                  Additional Paid-in Capital amounted to US$156,020.
Page 515
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/71 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                      FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                      31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)          (Expressed in US Dollars, unless otherwise stated)


19. RUGI KOMPREHENSIF LAIN                                19. OTHER COMPREHENSIVE LOSS

                                           2023              2022

    Saldo awal tahun                        16,118,527        19,837,149                      At beginning of year
    (Keuntungan)/kerugian                                                                           (Gain)/loss on
      revaluasi aset tetap                    (614,713)           61,491            revaluation of fixed assets
    Pengukuran kembali                                                                   Remeasurement of post-
      imbalan pasca kerja                    1,001,046        (4,946,373)                   employment benefit
    Pajak penghasilan terkait                  (84,993)        1,074,674                       Related income tax
    Selisih kurs karena penjabaran                                                  Exchange differences due to
      laporan keuangan                         (66,174)           91,586       financial statements translation

    Saldo akhir tahun                       16,353,693        16,118,527                        At end of the year


20. CADANGAN UMUM                                         20. GENERAL RESERVE

    Berdasarkan Undang-Undang Perseroan Terbatas             Based on Limited Liability Company Law No.40
    No.40 Tahun 2007. Grup wajib menyisihkan jumlah          Year 2007, the Group shall provide appropriation in
    tertentu dari laba bersih setiap tahun buku untuk        certain amounts, of its net income in each year for
    cadangan apabila saldo laba positif sampai               the general reserve if there are available retained
    cadangan tersebut mencapai paling sedikit 20% dari       earnings, until the general reserve reaches at least
    jumlah modal yang ditempatkan dan disetor.               20% of issued and paid-up capital.

    Pada tanggal 31 Desember 2023 dan 2022, Grup             As at 31 December 2023 and 2022, the Group has
    telah membentuk cadangan umum sebesar                    established a statutory reserve balance amounting
    AS$7.492.540 dari jumlah modal ditempatkan dan           to US$7,492,540 of its issued and paid-up capital.
    disetor.


21. PENDAPATAN                                            21. REVENUE

                                           2023              2022

    Reparasi dan overhaul                 288,311,230        174,804,710                     Repair and overhaul
    Perawatan                              65,275,499         44,128,043                       Line maintenance
    Operasi lainnya                        19,620,255         19,771,140                        Other operations

                                          373,206,984        238,703,893

    Berikut ini adalah rincian pendapatan usaha yang         Revenues from the following customers represent
    melebihi 10% dari jumlah pendapatan: (Catatan 28)        more than 10% of total revenues: (Note 28)

                                           2023              2022

    Garuda                                217,679,801         85,227,401                                  Garuda
    PT Citilink Indonesia (“Citilink”)     68,879,333         51,450,826          PT Citilink Indonesia (“Citilink”)

                                          286,559,134        136,678,227
Page 516
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/72 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                     FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                     31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)         (Expressed in US Dollars, unless otherwise stated)


22. BEBAN PEGAWAI                                        22. EMPLOYEE EXPENSES

                                           2023              2022

    Gaji dan tunjangan                      90,704,609       84,480,571              Salaries and allowances
    Imbalan kerja (Catatan 15)               4,342,115        3,762,110           Employee benefits (Note 15)
    Biaya kontribusi dana pensiun            3,102,728        4,994,057          Pension contribution expense
    Lain-lain (masing-masing                                                              Others (each below
      dibawah AS$1.000.000)                  3,337,280        1,996,912                     US$1,000,000)

                                          101,486,732        95,233,650

23. BEBAN MATERIAL                                       23. MATERIAL EXPENSES

                                           2023              2022

    Suku cadang repairable                  58,889,727       13,659,424                Repairable spare parts
    Suku cadang expendable                  29,908,342       37,296,471               Expendable spare parts
    Kurir dan pengiriman                     8,347,543        6,678,035                    Courier and freight
    Lain-lain (masing-masing                                                                          Others
      dibawah AS$1.000.000)                    646,122         431,662          (each below US$1,000,000)

                                            97,791,734       58,065,592


24. BEBAN SUBKONTRAK                                     24. SUBCONTRACT EXPENSES

                                           2023              2022

    Komponen subkontrak                   105,117,288        46,073,843               Subcontract components
    Jasa teknis dan penunjang                                                           Technical and ground
      penerbangan                              494,134         505,538                    handling services

                                          105,611,422        46,579,381


25. BEBAN OPERASIONAL LAINNYA                            25. OTHER OPERATING EXPENSES

                                           2023              2022

    Sewa                                     5,870,424        5,570,596                                   Rental
    Pemeliharaan dan perbaikan               3,298,217        1,592,099               Maintenance and repairs
    Listrik, air dan telepon                 2,728,616        1,940,840        Electricity, water and telephone
    Perjalanan dan transportasi              1,762,070        3,100,631               Travel and transportation
    Asuransi                                 1,364,946        1,471,418                               Insurance
    Promosi                                  1,364,759        1,453,870                              Promotion
    Jasa profesional                           897,278        1,358,921                       Professional fees
    Importasi                                  791,285        1,770,739                                   Import
    Lain-lain (masing-masing
      dibawah AS$1.000.000)                  4,206,658        2,692,229    Others (each below US$1,000,000)

                                            22,284,253       20,951,343

    Lihat Catatan 28 untuk rincian transaksi dengan         Refer to Note 28 for details of related parties
    pihak berelasi.                                         transactions.
Page 517
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/73 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                       FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                       31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollars, unless otherwise stated)


26. PENDAPATAN OPERASIONAL LAINNYA                         26. OTHER OPERATING INCOME

                                           2023               2022

    Penurunan/(pemulihan) nilai                                                            Impairment/(recovery)
      piutang usaha dan                                                                    of trade receivables
      aset kontrak kepada                                                                and contract assets to
      pelanggan                                851,534        (34,763,219)                           customers
    Penurunan nilai persediaan                                                          Impairment of inventories
      (Catatan 7)                            5,290,252          4,499,001                              (Note 7)
    Pemulihan nilai
      aset tetap (Catatan 9)                (8,183,096)                  -      Recovery of fixed assets (Note 9)

                                            (2,041,310)       (30,264,218)


27. LABA PER SAHAM                                         27. EARNINGS PER SHARE

    Laba per saham dasar dihitung dengan membagi              Basic earnings per share is calculated by dividing
    laba yang dapat diatribusikan kepada pemilik entitas      profit attributable to owners of the parent by the
    induk dengan jumlah rata-rata tertimbang saham            weighted average number of ordinary shares
    biasa   yang    beredar     pada   periode    yang        outstanding during the period.
    bersangkutan.

    Berikut ini data yang digunakan untuk perhitungan         Below is the data used for the computation of basic
    laba per saham dasar:                                     earnings per share:

                                           2023               2022
    Laba yang dapat
      diatribusikan kepada                                                                   Profit attributable to
      pemilik induk                         20,276,463          3,571,764                 owners of the parent

    Rata-rata tertimbang jumlah                                                     Weighted average number of
     saham yang beredar -                                                                 outstanding share -
     dasar dan dilusian                28,233,511,500      28,233,511,500                   basic and diluted

    Laba per saham -                                                                         Earnings per share -
      dasar dan dilusian                        0.0007             0.0001                     basic and diluted
Page 518
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/74 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                               FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                               31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                   (Expressed in US Dollars, unless otherwise stated)


28. SIFAT RELASI DAN TRANSAKSI                    DENGAN     28. NATURE    OF      RELATIONSHIP    AND
    PIHAK-PIHAK BERELASI                                         TRANSACTIONS WITH RELATED PARTIES

    Sifat relasi                                                   Nature of relationship

    •   Garuda adalah entitas induk Grup.                          •    Garuda is the Group’s parent entity.

    •   Seluruh entitas yang dikendalikan oleh Garuda              •    All entities controlled by Garuda or where
        serta entitas dimana Garuda memiliki pengaruh                   Garuda has significant influence are presented
        signifikan disajikan sebagai pihak berelasi.                    as related parties.;

    •   Pemerintah   Republik        Indonesia  melalui            •    The Government of the Republic of Indonesia
        Kementerian Keuangan          adalah pemegang                   represented by the Ministry of Finance is the
        saham utama Garuda.                                             majority stockholder of Garuda;

    •   Seluruh entitas yang dimiliki dan dikendalikan             •    All entities that are owned and controlled by the
        oleh Kementerian Keuangan dan Kementerian                       Ministry of Finance and Ministry of State-owned
        Badan Usaha Milik Negara Pemerintah Republik                    Enterprises of the Republic of Indonesia
        Indonesia serta entitas dimana Kementerian                      including entities where the Ministry of Finance
        Keuangan dan Kementerian Badan Usaha Milik                      and Ministry of State-owned Enterprises
        Negara Pemerintah Republik Indonesia memiliki                   Republic of Indonesia have significant influence.
        pengaruh signifikan.

    •   Komisaris dan direksi merupakan manajemen                  •    Commissioners and directors are considered key
        kunci.                                                          management personnel.

    Saldo dan transaksi dengan pihak-pihak berelasi                Balances and transactions with related parties

                                                                                           % terhadap Aset (Liabilitas)/
                                                            Jumlah/Total                     % to Assets (Liabilities)
                                                     2023                  2022              2023               2022
    Kas dan setara kas/
      Cash and cash equivalents
      BNI                                              8,568,163             1,864,058
      PT Bank Mandiri (Persero) Tbk (”Mandiri”)        6,548,783                60,160
      BRI                                              2,289,411             2,249,087
      PT Bank BNI Syariah                                140,466                76,777
      PT Bank Syariah Mandiri                              4,464                 4,691
      PT Bank Tabungan Negara (Persero) Tbk                   90                   111
      PT Bank Pembangunan Daerah Jawa Barat
        dan Banten Tbk (”Bank BJB”)                           42                   51

                                                     17,551,419              4,254,935            3.90%             1.09%
    Kas dan setara kas yang
      dibatasi penggunaannya/
      Restricted cash and cash equivalents
      Mandiri                                           194,603               190,706
      BNI                                               164,372               161,078

                                                        358,975               351,784             0.08%             0.09%
Page 519
                                PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                     DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/75 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                (Expressed in US Dollars, unless otherwise stated)


28. SIFAT RELASI DAN TRANSAKSI                DENGAN        28. NATURE      OF  RELATIONSHIP AND
    PIHAK-PIHAK BERELASI (lanjutan)                             TRANSACTIONS WITH RELATED PARTIES
                                                                (continued)

    Saldo dan transaksi dengan pihak-pihak berelasi                Balances and transactions with related parties
    (lanjutan)                                                     (continued)

                                                                                        % terhadap Aset (Liabilitas)/
                                                          Jumlah/Total                    % to Assets (Liabilities)
                                                   2023                  2022             2023               2022


    Piutang usaha/
      Trade receivables
      Citilink                                     39,352,403            17,261,729
      Garuda                                       19,931,207             9,280,927
      Lain - lain/Others                            2,068,491               324,184

                                                   61,352,101            26,866,840          13.63%              6.88%

    Aset kontrak/
      Contract assets
      Garuda                                       29,961,592            27,718,945
      Citilink                                      9,776,933            21,533,204

                                                   39,738,525            49,252,149            8.83%            12.61%

    Utang usaha - bagian jangka pendek/
      Trade payables - current portion
      PT Angkasa Pura II (Persero)                     6,779,572          6,247,012
      Garuda                                           1,889,989          1,550,555
      PT Aerotrans Services Indonesia                    920,068          1,790,296
      PT Gapura Angkasa                                  414,292            344,113
      Lain - lain/Others                                 387,696            417,713

                                                   10,391,617            10,349,689            1.37%             1.43%

    Akrual/Accrual
      Garuda                                           1,806,437          2,905,571
      PT Aerotrans Services Indonesia                    356,588            259,985
      PT Aero Systems Indonesia                          292,868            244,059
      Lain - lain/Others                                 956,201            661,438

                                                       3,412,094          4,071,053            0.45%             0.56%

    Liabilitas sewa/Lease liabilities
       PT Angkasa Pura II (Persero)                45,503,453            44,523,806
       Garuda                                       3,771,554             4,154,315
       PT Angkasa Pura I (Persero)                    935,098               934,791

                                                   50,210,105            49,612,912            6.60%             6.87%
Page 520
                                   PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                        DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/76 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                (Expressed in US Dollars, unless otherwise stated)


28. SIFAT RELASI DAN TRANSAKSI                    DENGAN     28. NATURE      OF  RELATIONSHIP AND
    PIHAK-PIHAK BERELASI (lanjutan)                              TRANSACTIONS WITH RELATED PARTIES
                                                                 (continued)

    Saldo dan transaksi dengan pihak-pihak berelasi                Balances and transactions with related parties
    (lanjutan)                                                     (continued)

                                                                                        % terhadap Aset (Liabilitas)/
                                                            Jumlah/Total                  % to Assets (Liabilities)
                                                     2023                  2022           2023               2022

    Pinjaman jangka panjang/
      Long-term loans
      BNI                                           189,259,424        193,161,680
      BRI                                           141,658,833        144,358,833

                                                    330,918,257        337,520,513           43.47%             46.77%

    Liabilitas kontrak/Contract liabilities
       Garuda                                        79,407,092            23,174,840
       Citilink                                      10,149,125             7,738,096

                                                     89,556,217            30,912,936        11.77%              4.28%

                                                                                        % terhadap Beban keuangan/
                                                            Jumlah/Total                     % to Finance costs
                                                     2023                  2022            2023              2022

    Beban keuangan/Finance costs
      BNI                                              6,707,738            7,281,480
      BRI                                              5,248,643            4,420,077
      Lain-lain/Others                                   558,861              234,890

                                                     12,515,242            11,936,447        52.99%             54.04%

                                                                                         % terhadap Beban usaha/
                                                            Jumlah/Total                 % to Operating expenses
                                                     2023                  2022           2023             2022

    Beban usaha/Operating expenses
      PT Angkasa Pura II (Persero)                     7,089,462            3,301,595
      PT Asuransi Jiwa Inhealth Indonesia              4,680,824            4,567,041
      PT PLN (Persero)                                 3,000,330            2,742,081
      PT Aerotrans Services Indonesia                  2,050,273            2,067,057
      BPJS Kesehatan                                   1,547,240            1,287,287
      PT Angkasa Pura I (Persero)                        833,498              886,470
      Garuda                                             740,719              625,900
      PT Aero Systems Indonesia                          514,034              278,891
      PT Gapura Angkasa                                  384,711              292,120
      PT Telekomunikasi Indonesia (Persero) Tbk          377,469              288,258
      Lain - lain/Others                                 241,034              674,859

                                                     21,459,594            17,011,559          6.21%             7.96%
Page 521
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/77 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


28. SIFAT RELASI DAN TRANSAKSI                DENGAN      28. NATURE      OF  RELATIONSHIP AND
    PIHAK-PIHAK BERELASI (lanjutan)                           TRANSACTIONS WITH RELATED PARTIES
                                                              (continued)

    Pendapatan dari pihak berelasi dan manfaat               Revenues from related parties and benefits to
    pada Komisaris dan Direktur Grup                         the Commissioners and Directors of the Group

    a.   Pendapatan dari pihak berelasi adalah 77% dari      a.     Revenues from related parties constituted 77%
         jumlah pendapatan pada tahun yang berakhir                 of the total revenues for the years ended 31
         pada tanggal 31 Desember 2023 dan 2022.                    December 2023 and 2022, respectively.

         Rincian pendapatan dari pihak berelasi adalah              The details of revenues from related parties are
         sebagai berikut:                                           as follows:

                                           2023               2022

         Garuda                           217,679,801         85,227,401                                  Garuda
         Citilink                          68,879,333         51,450,826                                   Citilink
         PT PLN (Persero)                     781,495          3,119,645                         PT PLN (Persero)
         PT Gapura Angkasa                    292,393          7,282,516                       PT Gapura Angkasa

         Jumlah                           287,633,022        147,080,388                                      Total

    b.   Grup menyediakan manfaat pada Komisaris             b.     The Group provides benefits to the
         dan Direktur Grup sebagai berikut:                         Commissioners and Directors of the Group as
                                                                    follows:

                                           2023               2022

         Komisaris                                                                                  Commissioners
           Imbalan kerja jangka
             pendek                            829,508              386,707                   Short term benefits
           Imbalan kerja jangka
             panjang lainnya                    83,135               43,913   Other long-term employee benefits

                                               912,643              430,620
         Direksi                                                                                          Directors
           Imbalan kerja jangka
             pendek                          1,887,166              948,899                   Short term benefits
           Imbalan kerja jangka
             panjang lainnya                   152,999              164,301   Other long-term employee benefits

                                             2,040,165            1,113,200


29. INFORMASI SEGMEN                                      29. SEGMENT INFORMATION

    Grup melaporkan segmen-segmen berdasarkan                The Group’s reportable segments are based on its
    jasa yang diberikan:                                     operating divisions:

    a.   Jasa pemeliharaan dan perbaikan pesawat             a.     Repair and maintenance airframe, engine and
         airframe, engine, dan component,                           component,
    b.   Jasa pemeliharaan dan perbaikan pesawat line        b.     Line maintenance and technical ground
         maintenance dan technical ground handling,                 handling, and
         dan
    c.   Operasi lainnya dari entitas anak.                  c.     Other operations from subsidiaries.
Page 522
                                     PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                          DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                      Lampiran 5/78 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                      NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                            FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                            31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                                (Expressed in US Dollars, unless otherwise stated)


29. INFORMASI SEGMEN (lanjutan)                                         29. SEGMENT INFORMATION (continued)

    Berikut ini adalah informasi segmen berdasarkan                                The following represents segment information based
    segmen operasi:                                                                on the operating divisions:

                                                                            2023
                                                                                  Jumlah
                                 Reparasi dan                   Operasi          sebelum
                                   overhaul/  Perawatan/       lain-lain/        eliminasi/
                                    Repair       Line            Other          Total before        Eliminasi/        Jumlah/
                                 and overhaul maintenance     operations        elimination        Elimination         Total

    PENDAPATAN                    288,311,230   65,275,499     21,203,324        374,790,053         (1,583,069)     373,206,984            SEGMENT
      SEGMEN                                                                                                                             REVENUES

    LABA SEGMEN                    15,653,044   13,138,126      (1,089,770)        27,701,400                    -    27,701,400    SEGMENT INCOME

    Penghasilan keuangan                    -            -                  -                  -                 -       238,867        Finance income
    Beban keuangan                          -            -                  -                  -                 -   (23,619,058)         Finance costs
    Pendapatan lain-lain,
      bersih                                -            -                  -                  -                 -    15,408,815      Other income, net

    Laba sebelum pajak                                                                                                19,730,024      Income before tax

    INFORMASI LAINNYA                                                                                                            OTHER INFORMATION
      ASET                                                                                                                                 ASSETS
    Aset tetap segmen             129,145,415    2,407,856        202,247        131,755,518                     -   131,755,518      Segment assets
    Aset tidak dapat dialokasi              -            -              -                  -                     -   318,265,585    Unallocated assets

    Total aset                                                                                                       450,021,103           Total assets

    KEWAJIBAN                                                                                                                              LIABILITIES
    Kewajiban tidak dapat
      dialokasi                             -            -                  -                  -                 -   761,183,005 Unallocated liabilities

    Penyusutan                     18,886,371    1,426,991         59,391          20,372,753                    -    20,372,753           Depreciation


                                                                            2022
                                                                                  Jumlah
                                 Reparasi dan                   Operasi          sebelum
                                   overhaul/  Perawatan/       lain-lain/        eliminasi/
                                    Repair       Line            Other          Total before        Eliminasi/        Jumlah/
                                 and overhaul maintenance     operations        elimination        Elimination         Total

    PENDAPATAN                                                                                                                              SEGMENT
      SEGMEN                      174,804,710   44,128,043     20,834,200        239,766,953         (1,063,060)     238,703,893         REVENUES

    LABA SEGMEN                    26,523,934   (1,435,208)      (221,507)         24,867,219                    -    24,867,219    SEGMENT INCOME

    Penghasilan keuangan                    -            -                  -                  -                 -       141,760        Finance income
    Beban keuangan                          -            -                  -                  -                 -   (22,087,788)         Finance costs
    Pendapatan lain-lain,
      bersih                                -            -                  -                  -                 -     2,582,114      Other income, net

    Laba sebelum pajak                                                                                                 5,503,305      Income before tax

    INFORMASI LAINNYA                                                                                                            OTHER INFORMATION
      ASET                                                                                                                                 ASSETS
    Aset tetap segmen             131,981,692    3,001,662        253,197        135,236,551                     -   135,236,551      Segment assets
    Aset tidak dapat dialokasi              -            -              -                  -                     -   255,422,159    Unallocated assets

    Total aset                                                                                                       390,658,710           Total assets

    KEWAJIBAN                                                                                                                              LIABILITIES
    Kewajiban tidak dapat
      dialokasi                             -            -                  -                  -                 -   721,680,030 Unallocated liabilities

    Penyusutan                     21,812,779    1,377,584         80,563          23,270,926                    -    23,270,926           Depreciation
Page 523
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/79 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


30. IKATAN                                                  30. COMMITMENTS

    a.   Grup memiliki bank garansi yang digunakan             a.     The Group has bank guarantees which were
         sebagai jaminan pelaksanaan pekerjaan. Bank                  used as work performance guarantees. The
         garansi dijamin dengan setara kas sebesar                    bank guarantees are secured with a cash
         AS$358.975 yang ditempatkan dalam rekening                   equivalent of US$358,975 which was placed in
         tersendiri.                                                  a separate account.

    b.   Pada tanggal 31 Desember 2023, Grup                   b.     As at 31 December 2023, the Group has
         memiliki komitmen untuk pengadaan aset tetap                 commitments for acquisition of fixed assets
         sebesar AS$507.701 (2022: AS$345.648).                       amounting to US$507,701 (2022: US$345,648).


31. MANAJEMEN PERMODALAN                                    31. CAPITAL MANAGEMENT

    Dalam mengelola permodalannya, Grup senantiasa             In managing its capital, the Group safeguards its
    mempertahankan kelangsungan usaha serta                    ability to continue as a going concern and to
    memaksimalkan manfaat bagi pemegang saham                  maximise benefits to the shareholders and other
    dan pemangku kepentingan lainnya.                          stakeholders.

    Grup secara aktif dan rutin menelaah dan mengelola         The Group actively and regularly reviews and
    permodalannya untuk memastikan struktur modal              manages its capital to ensure the optimal capital
    dan pengembalian yang optimal bagi pemegang                structure and return to the shareholders, taking into
    saham, dengan mempertimbangkan efisiensi                   consideration the efficiency of capital use based on
    penggunaan modal berdasarkan arus kas operasi              operating cash flows and capital expenditure and
    dan belanja modal, serta mempertimbangkan                  also consideration of future capital needs.
    kebutuhan modal di masa yang akan datang.

    Sebagai dampak dari kerugian selama tahun                  As a result of the current year’s losses, the Group
    berjalan, Grup memiliki ekuitas negatif pada tanggal       has a negative equity as at 31 December 2023. See
    31 Desember 2023. Lihat Catatan 35 sehubungan              Note 35 related to the Group’s going concern and
    dengan kelangsungan usaha Grup dan rencana                 management’s plan to maintain the Group’s ability to
    manajemen untuk mempertahankan kelangsungan                continue as a going concern.
    usaha Grup.

    Gearing ratio adalah sebagai berikut:                      The gearing ratio is as follows:

                                             2023              2022

    Pinjaman                                400,670,117        415,455,238                                   Debt
    Kas dan setara kas                      (21,051,033)        (5,103,013)              Cash and cash equivalents

    Pinjaman - bersih                        379,619,084       410,352,225                                  Net debt
    Ekuitas                                 (311,161,902)     (331,021,320)                                   Equity

    Rasio pinjaman bersih
      terhadap ekuitas                        (122.00%)             (123.97%)                 Net debt to equity ratio
Page 524
                               PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                    DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/80 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN                                  32. FINANCIAL RISK MANAGEMENT

    Faktor risiko keuangan                                        Financial risk factors

    Aktivitas Grup rentan terhadap berbagai risiko                The Group’s activities are exposed to a variety of
    keuangan: risiko pasar (termasuk risiko nilai tukar           financial risks: market risk (including foreign
    mata uang dan risiko tingkat bunga), risiko kredit            exchange risk and interest rate risk), credit risk and
    dan risiko likuiditas. Program manajemen risiko               liquidity risk. The Group’s overall risk management
    Grup secara keseluruhan dipusatkan pada pasar                 programme focuses on the unpredictability of
    keuangan yang tidak dapat diprediksi dan Grup                 financial markets and seeks to minimise potential
    berusaha untuk memperkecil efek yang berpotensi               adverse effects on the Group’s financial
    merugikan kinerja keuangan Grup.                              performance.

    Grup menggunakan berbagai metode untuk                        The Group uses various methods to measure the
    mengukur risiko yang dihadapinya. Metode ini                  risk to which it is exposed. These methods include
    meliputi analisis sensitivitas untuk risiko tingkat suku      sensitivity analysis in the case of interest rates,
    bunga, nilai tukar dan risiko harga lainnya dan               foreign exchange and other price risks and aging
    analisis umur piutang untuk risiko kredit.                    analysis for credit risk.

    a.   Risiko pasar                                             a.   Market risk

         (i)   Risiko nilai tukar mata uang asing                      (i)   Foreign currency exchange risk

               Grup rentan terhadap risiko nilai tukar mata                  The Group is exposed to currency
               uang yang timbul dari berbagai eksposur                       exchange risk arising from various non-
               mata uang non-fungsional, terutama                            functional currency exposures, primarily
               terhadap Rupiah. Risiko nilai tukar mata                      with respect to the Rupiah. Non-functional
               uang non-fungsional timbul dari transaksi                     exchange      risk    arises from   future
               komersial di masa depan serta aset dan                        commercial transactions and recognised
               liabilitas yang diakui.                                       assets and liabilities.

               Manajemen telah membuat kebijakan                             Management has set up a policy to require
               untuk mengelola risiko nilai tukar mata                       companies within the Group to manage
               uang non-fungsional terhadap mata uang                        their non-functional exchange risk against
               fungsional Grup dalam Grup.                                   their functional currency.

               Kebijakan berkaitan dengan risiko nilai                       The policy currently applied in connection
               tukar yang saat ini dijalankan adalah                         with exchange rate risk is natural (i,e,
               secara natural (tanpa lindung nilai) yaitu:                   without hedging), as follows:
               •   Grup memanfaatkan peluang harga                           •    The Group takes advantage of
                   pasar nilai tukar mata uang lainnya                            opportunities in the market prices of
                   (multi-currency)     untuk      menutup                        other currencies (multi-currency) to
                   kemungkinan risiko melemahnya nilai                            cover possible risk of weakening
                   tukar     fungsional      dan      begitu                      value of the functional currency, and
                   sebaliknya, sehingga secara natural                            vice versa. Thus, in a natural way, the
                   risiko adanya pergerakan nilai tukar                           risks of non-functional currency
                   mata uang non-fungsional bisa                                  exchange rate movements will be
                   dikurangi. Transaksi valuta mata uang                          reduced. Currency transactions are
                   bisa    dilakukan     dengan       selalu                      always conducted by considering the
                   mempertimbangkan          kurs      yang                       exchange rates favourable to the
                   menguntungkan Grup.                                            Group.
               •   Grup     mengatur      risiko    dengan                   •    The Group manages the risk by
                   berusaha menyelaraskan penerimaan                              matching receipt and payment in each
                   dan pembayaran untuk setiap jenis                              individual currency.
                   mata uang.
Page 525
                                          PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                               DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                            Lampiran 5/81 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                            NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                                  FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                                  31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                                      (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN (lanjutan)                                     32. FINANCIAL RISK MANAGEMENT (continued)

    Faktor risiko keuangan (lanjutan)                                                 Financial risk factors (continued)

    a.   Risiko pasar (lanjutan)                                                      a.      Market risk (continued)

         (i)   Risiko nilai tukar mata uang non-fungsional                                    (i)     Non-functional       currency     exchange           risk
               (lanjutan)                                                                             (continued)

               Pada tanggal 31 Desember 2023 dan                                                      As at 31 December 2023 and 2022, the
               2022, Grup memiliki aset dan liabilitas                                                Group had monetary assets and liabilities
               moneter dalam mata uang non-fungsional                                                 denominated in non-functional currencies
               sebagai berikut:                                                                       as follows:
                                                                                   2023
                                                  Rupiah/             Rupiah                Mata uang lain        Jumlah setara
                                                    Rp             (dalam AS$)/              (dalam AS$)/             AS$/
                                                  Rupiah/             Rupiah               Other currencies           US$
                                                    Rp               (in US$)                  (in US$)            Equivalents

               ASET                                                                                                                                    ASSETS

               Kas dan setara kas dan kas                                                                                            Cash and cash equivalents
                  dibatasi penggunaannya        151,616,190,424         9,834,989                         395           9,835,384        and restricted cash
               Piutang usaha                  1,059,801,722,086        68,746,868                          -           68,746,868            Trade receivables
               Piutang non-usaha                 48,771,460,456         3,163,691                          -            3,163,691        Non-trade receivables

               Total aset moneter             1,260,189,372,966        81,745,548                         395          81,745,943        Total monetary assets

               LIABILITAS                                                                                                                         LIABILITIES
               Utang usaha                    (330,630,096,864)        (21,447,204)                 (1,326,927)       (22,774,131)              Trade payables
               Akrual                         (105,426,051,260)         (6,838,742)                         -          (6,838,742)                    Accruals

               Total liabilitas moneter       (436,056,148,124)        (28,285,946)                 (1,326,927)       (29,612,873)     Total monetary liabilities

               Aset moneter - bersih           824,133,224,842         53,459,602                   (1,326,532)        52,133,070         Net monetary assets


                                                                                   2022
                                                  Rupiah/             Rupiah                Mata uang lain        Jumlah setara
                                                    Rp             (dalam AS$)/              (dalam AS$)/             AS$/
                                                  Rupiah/             Rupiah               Other currencies           US$
                                                    Rp               (in US$)                  (in US$)            Equivalents

               ASET                                                                                                                                    ASSETS

               Kas dan setara kas dan kas                                                                                            Cash and cash equivalents
                  dibatasi penggunaannya        41,650,586,171          2,647,674                         467           2,648,141        and restricted cash
               Piutang usaha                   543,685,431,523         34,561,403                           -          34,561,403            Trade receivables
               Piutang non-usaha                 2,981,795,319            189,549                           -             189,549        Non-trade receivables

               Total aset moneter              588,317,813,013         37,398,626                         467          37,399,093        Total monetary assets

               LIABILITAS                                                                                                                         LIABILITIES
               Utang usaha                    (472,174,228,652)        (30,015,524)                 (1,453,885)       (31,469,409)              Trade payables
               Akrual                         (130,200,877,307)         (8,276,707)                          -         (8,276,707)                    Accruals

               Total liabilitas moneter       (602,375,105,959)        (38,292,231)                 (1,453,885)       (39,746,116)     Total monetary liabilities

               Liabilitas moneter - bersih      (14,057,292,946)          (893,605)                 (1,453,418)        (2,347,023)       Net monetary liabilities


               Pada tanggal 31 Desember 2023 dan                                                      As at 31 December 2023 and 2022,
               2022, sensitivitas untuk perubahan 100                                                 sensitivity to a 100 basis point change in
               basis point nilai tukar mata uang fungsional                                           the exchange rate of functional currency
               (AS$) terhadap saldo mata uang non-                                                    (US$) against significant outstanding non-
               fungsional yang signifikan pada akhir                                                  functional currency at the end of the
               periode pelaporan, dengan variabel lain                                                reporting period, with other variables held
               konstan terhadap laba setelah pajak Grup                                               constant, of the Group’s profit after tax is
               adalah sebagai berikut:                                                                as follows:

                                                       Perubahan            Dampak terhadap laba
                                                          kurs/             sebelum pajak/ Effect
                                                       Changes in            on profit before tax
                                                      currency rate           2023         2022

               Rupiah                                        1%                   (199,690)               (89,510)                                  Rupiah
Page 526
                                PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                     DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                Lampiran 5/82 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                           FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                           31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)               (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN (lanjutan)                       32. FINANCIAL RISK MANAGEMENT (continued)

    Faktor risiko keuangan (lanjutan)                             Financial risk factors (continued)

    a.   Risiko pasar (lanjutan)                                  a.   Market risk (continued)

         (i)    Risiko nilai tukar mata uang non-fungsional            (i)   Non-functional      currency   exchange   risk
                (lanjutan)                                                   (continued)

                Manajemen berpendapat bahwa analisis                         In management’s opinion, the sensitivity
                sensitivitas   ini   bukan        merupakan                  analysis is not representative of the
                representasi risiko nilai tukar mata uang                    inherent non-functional exchange risk
                non-fungsional yang melekat karena                           because the year end exposure does not
                eksposur pada akhir periode bukan                            reflect the exposure during the year. Sales
                cerminan eksposur selama periode yang                        and purchases denominated in non-
                bersangkutan. Pendapatan dan pembelian                       functional currency are dependent on the
                dalam      mata    uang       non-fungsional                 fluctuations in volume of sales and
                tergantung     pada     fluktuasi    volume                  purchases and use of cash and cash
                penjualan     dan      pembelian       serta                 equivalents that can impact non-functional
                penggunaan kas dan setara kas dapat                          currency denominated monetary items.
                mengakibatkan perubahan akun moneter
                dalam mata uang non-fungsional.

                Apabila aset dan liabilitas dalam mata uang                  If the assets and liabilities in foreign
                asing pada tanggal 31 Desember 2023                          currencies as at 31 December 2023, had
                dijabarkan dengan menggunakan kurs                           been translated using the Bank Indonesia
                tengah Bank Indonesia pada tanggal 28                        mid-rates as at 28 March 2024, the total
                Maret 2024, maka aset bersih dalam mata                      net foreign currency assets of the Group
                uang asing Grup akan menurun sebesar                         would decrease by US$1.44 million.
                AS$1,44 juta.

                Grup menganalisis eksposur dari risiko                       The Group analyses its interest rate
                bunga secara dinamis. Beberapa skenario                      exposure on a dynamic basis. Various
                disimulasikan      dengan       beberapa                     scenarios are simulated taking into
                pertimbangan seperti pembiayaan kembali,                     consideration the refinancing of existing
                memperbaharui dari kondisi yang ada dan                      positions, and alternative financing. Based
                alternatif lain pembiayaan. Berdasarkan                      on the above scenarios, the Group
                scenario tersebut di atas, Grup mengelola                    manages its cash flow interest rate risk by
                risiko arus kas dari suku bunga dengan                       refinancing borrowings at a lower interest
                melakukan pembiayaan pinjaman dengan                         rate.
                suku bunga yang lebih rendah.

         (ii)   Risiko tingkat bunga                                   (ii) Interest rate risk

                Risiko suku bunga Grup terutama timbul                       The Group’s interest rate risk arises from
                dari pinjaman dalam mata uang Dolar AS                       long-term borrowing denominated in US
                dan Rupiah. Risiko suku bunga dari kas                       Dollars and Rupiah. The interest rate risk
                tidak signifikan dan semua instrumen                         on cash is not significant and all other
                keuangan lainnya tidak dikenakan bunga.                      financial instruments are not interest
                Pinjaman yang diterbitkan dengan tingkat                     bearing. Borrowings issued at variable
                bunga variabel mengekspos Grup terhadap                      rates expose the Group to cash flow
                risiko suku bunga arus kas.                                  interest rate risk.
Page 527
                              PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                   DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                Lampiran 5/83 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                              31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                  (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN (lanjutan)                        32. FINANCIAL RISK MANAGEMENT (continued)

    Faktor risiko keuangan (lanjutan)                               Financial risk factors (continued)

    a.   Risiko pasar (lanjutan)                                    a.   Market risk (continued)

         (ii) Risiko tingkat bunga (lanjutan)                            (ii) Interest rate risk (continued)

             Berikut ini analisis sensitivitas, ditentukan                   The sensitivity analysis below was
             berdasarkan       eksposur     suku      bunga                  determined based on the exposure of the
             terhadap      liabilitas keuangan         yang                  financial liabilities to floating interest rates
             menggunakan suku bunga mengambang                               at the end of the reporting period. The
             pada akhir periode pelaporan. Analisis ini                      analysis is prepared assuming the amount
             disajikan     dengan     asumsi       liabilitas                of the liability outstanding at the end of the
             keuangan pada akhir periode pelaporan                           reporting period was outstanding for the
             masih beredar sepanjang periode, dengan                         whole period, with other variables held
             variabel lain konstan terhadap laba setelah                     constant, of the Group’s profit after tax.
             pajak Grup.

                                             Perubahan          Dampak terhadap laba
                                           tingkat suku/        sebelum pajak/ Effect
                                             Changes in          on profit before tax
                                            interest rate         2023         2022

             Suku bunga                                                                                       Interest rate
               Penguatan                         1%             4,004,755     3,989,645                    Strengthenin

    b.   Risiko kredit                                              b.   Credit risk

         Risiko kredit yang dihadapi Grup adalah risiko                  The credit risk faced by the Group is the risk of
         ketidakmampuan dari debitur untuk memenuhi                      the inability of debtors to fulfill their financial
         liabilitas    keuangannya   sesuai    dengan                    obligations in accordance with the terms of the
         persyaratan-persyaratan yang telah disepakati                   agreement. This exposure derives mainly from
         bersama. Eksposur tersebut terutama berasal                     the risk of customers failing to fulfill their
         dari risiko pelanggan akan gagal memenuhi                       obligations.
         liabilitasnya.

         Semua kas di bank, deposito berjangka, dan                      All the cash in banks, time deposits and
         deposito      berjangka  yang      dibatasi                     restricted time deposits are placed in reputable
         penggunaannya ditempatkan di bank yang                          banks.
         memiliki reputasi baik.

         Grup memiliki tujuan untuk memperoleh                           The Group’s objective is to seek continual
         pertumbuhan pendapatan yang berkelanjutan                       revenue growth while minimising losses
         dengan meminimalkan kerugian yang terjadi                       incurred due to increased credit risk exposure.
         karena eksposur risiko kredit. Karena itu Grup                  Therefore, The Group has a Customer
         memiliki kebijakan pembayaran pelanggan                         Remittance Policy to ensure that the
         (Customer      Remittance      Policy)    untuk                 transactions which generate income are carried
         memastikan       bahwa      transaksi     yang                  out with customers who have a good credit
         menghasilkan pendapatan dilakukan dengan                        record, and establishment of credit limit term of
         pelanggan yang mempunyai catatan kredit yang                    sales, maximum receivables and term of
         baik, serta penentuan batasan kredit syarat                     payment in accordance with previous payment
         penjualan, batasan piutang dan penentuan pola                   history.
         pembayaran sesuai data perilaku pembayaran
         sebelumnya.
Page 528
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                             Lampiran 5/84 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                        FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                        31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN (lanjutan)                    32. FINANCIAL RISK MANAGEMENT (continued)

    Faktor risiko keuangan (lanjutan)                          Financial risk factors (continued)

    b.   Risiko kredit (lanjutan)                              b.   Credit risk (continued)

         Pendapatan usaha Grup terutama berasal dari                The Group’s revenues come mostly from
         pihak berelasi. Karena itu, Grup memiliki risiko           related parties. Therefore, The Group has
         konsentrasi kredit yang signifikan terhadap                allocated a significant concentration of credit
         pihak berelasi tersebut.                                   risk to these related parties.

         Pelanggan lain Grup sebagian besar terdiri dari            Most of the Group’s other customers consist of
         Grup maskapai penerbangan yang beragam                     various domestic and overseas airline
         dari dalam dan luar negeri. Grup memonitor                 companies. The Group regularly monitors the
         secara berkala saldo piutang kepada pelanggan              balance of receivables from such customers to
         untuk mengurangi eksposur Grup terhadap                    minimise the Group’s exposure to impairment
         piutang tidak tertagih.                                    losses.

         Aset keuangan Grup dikelompokkan sebagai                   The Group’s financial assets are categorised as
         berikut:                                                   follows:

                                            2023                2022

         Aset keuangan - pinjaman
           yang diberikan dan                                                                 Financial assets - loans
           piutang                                                                                 and receivables
           Kas dan setara kas dan
             kas dibatasi                                                             Cash and cash equivalents
             penggunaannya                   21,410,008          5,454,797                 and restricted cash
           Piutang usaha                     72,046,932         40,417,125                    Trade receivables
           Aset kontrak                      50,704,629         60,307,639                      Contract assets
           Piutang non-usaha                  3,163,691            189,549                    Other receivables

         Jumlah                            147,325,260         106,369,110                                      Total

         Jumlah tercatat dari piutang di atas merupakan             The carrying amount of the above receivables
         eksposur maksimum risiko kredit Grup.                      represents the Group’s maximum exposure to
                                                                    credit risk.

    c.   Risiko likuiditas                                     c.   Liquidity risk

         Risiko likuiditas merupakan risiko yang muncul             Liquidity risk is defined as a risk that arises in
         dalam situasi dimana posisi arus kas Grup                  situations where the cash inflow from short-term
         mengindikasikan bahwa arus kas masuk dari                  revenue is not enough to cover the cash outflow
         pendapatan jangka pendek tidak cukup untuk                 of short-term expenditure. The Group faced
         memenuhi arus kas keluar untuk pengeluaran                 liquidity issues and deferred the payment of
         jangka pendek. Grup mengalami permasalahan                 certain past due liabilities. See Note 35 related
         likuiditas dan melakukan penundaan atas                    to     the    Group’s     going   concern     and
         pembayaran berbagai liabilitas yang telah jatuh            management’s plan to maintain the Group’s
         tempo. Lihat Catatan 35 sehubungan dengan                  ability to continue as a going concern.
         kelangsungan usaha Grup dan rencana
         manajemen          untuk      mempertahankan
         kelangsungan usaha Grup.
Page 529
                                 PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                      DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/85 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                             FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                             31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                 (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN (lanjutan)                      32. FINANCIAL RISK MANAGEMENT (continued)

    Faktor risiko keuangan (lanjutan)                              Financial risk factors (continued)

    c.   Risiko likuiditas (lanjutan)                              c.     Liquidity risk (continued)

         Tabel dibawah ini menganalisa liabilitas                         The table below analyses the Group’s financial
         keuangan Grup pada tanggal pelaporan                             liabilities at the reporting date into relevant
         berdasarkan kelompok jatuh temponya dari sisa                    maturity groupings based on the remaining
         periode hingga tanggal jatuh tempo kontraktual.                  period to the contractual maturity date. The
         Jumlah yang diungkapkan dalam tabel ini                          amounts disclosed in the table represent
         adalah nilai arus kas kontraktual yang tidak                     contractual undiscounted cash flows including
         terdiskonto termasuk estimasi pembayaran                         estimated interest payments:
         bunga:

                                                                       2023
                                                        Lebih dari satu
                                                          tahun tetapi
                                                        tidak lebih dari
                                           Dalam           lima tahun/       Lebih dari
                                         satu tahun/     Over one year      lima tahun/
                                           Within        but not longer      Over than        Jumlah/
                                          one year      than five years      five years        Total
         Tanpa bunga                                                                                        Non-interest bearing
            Utang usaha                    58,161,554                -               -         58,161,554     Trade payables
            Utang lain-lain                 6,143,838                -               -          6,143,838     Other payables
            Akrual                         52,467,606                -               -         52,467,606            Accruals
         Tingkat bunga tetap                                                                                   Fixed interest rate
            Utang usaha                    21,807,607       20,641,756        5,380,160        47,829,523    Trade payables
            Liabilitas sewa                21,964,562       47,925,870       10,618,862        80,509,294     Lease liabilities
            Pinjaman jangka panjang        19,961,110      141,035,173      294,450,398       455,446,681    Long-term loans
         Tingkat bunga variabel                                                                             Variable interest rate
            Pinjaman jangka pendek            196,427                -               -            196,427    Short-term loans
            Pinjaman jangka panjang         3,231,789        20,651,345      34,920,251        58,803,385    Long-term loans

         Total liabilitas                 183,934,493      230,254,144      345,369,671       759,558,308          Total liabilities


                                                                       2022
                                                        Lebih dari satu
                                                          tahun tetapi
                                                        tidak lebih dari
                                           Dalam           lima tahun/       Lebih dari
                                         satu tahun/     Over one year      lima tahun/
                                           Within        but not longer      Over than        Jumlah/
                                          one year      than five years      five years        Total
         Tanpa bunga                                                                                        Non-interest bearing
            Utang usaha                    85,683,462         1,478,045                   -    87,161,507     Trade payables
            Utang lain-lain                 6,371,119                 -                   -     6,371,119     Other payables
            Akrual                         59,746,154                 -                   -    59,746,154            Accruals
         Tingkat bunga tetap                                                                                   Fixed interest rate
            Utang usaha                    14,551,487       17,610,172        3,502,614        35,664,273    Trade payables
            Liabilitas sewa                16,357,660       40,356,816       22,269,545        78,984,021     Lease liabilities
            Pinjaman jangka panjang        20,849,753      182,190,731      256,341,629       459,382,113    Long-term loans
         Tingkat bunga variabel                                                                             Variable interest rate
            Pinjaman jangka pendek         16,490,706                 -               -        16,490,706    Short-term loans
            Pinjaman jangka panjang         2,355,603         8,690,099      20,913,320        31,959,022    Long-term loans

         Total liabilitas                 222,405,944      250,325,863      303,027,108       775,758,915          Total liabilities

         Estimasi nilai wajar                                             Fair value estimation

         Nilai wajar aset dan liabilitas keuangan                         The fair value of financial assets and liabilities
         diestimasi untuk keperluan pengakuan dan                         is estimated for recognition and measurement
         pengukuran         atau     untuk     keperluan                  or for disclosure purposes. The fair value is the
         pengungkapan. Nilai wajar adalah suatu jumlah                    amount for which an asset could be exchanged
         dimana suatu aset dapat dipertukarkan atau                       or a liability settled between knowledgeable and
         suatu liabilitas diselesaikan antara pihak yang                  willing parties in an arm's length transaction.
         memahami dan berkeinginan untuk melakukan
         transaksi wajar.
Page 530
                                    PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                         DAN ENTITAS ANAK/AND SUBSIDIARIES

                                                        Lampiran 5/86 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                             (Expressed in US Dollars, unless otherwise stated)


32. MANAJEMEN RISIKO KEUANGAN (lanjutan)                                  32. FINANCIAL RISK MANAGEMENT (continued)

    Faktor risiko keuangan (lanjutan)                                          Financial risk factors (continued)

    c.    Risiko likuiditas (lanjutan)                                         c.    Liquidity risk (continued)

          Estimasi nilai wajar (lanjutan)                                            Fair value estimation (continued)

          PSAK       68,     “Pengukuran    Nilai   Wajar”                           PSAK 68, “Fair Value Measurement” requires
          mensyaratkan pengungkapan atas pengukuran                                  disclosure of fair value measurements by level
          nilai wajar dengan tingkat hierarki nilai wajar                            of the following fair value measurement
          sebagai berikut:                                                           hierarchy:
          a) harga kuotasian (tidak disesuaikan) dalam                               a) quoted prices (unadjusted) in active markets
              pasar aktif untuk aset atau liabilitas yang                               for identical assets or liabilities (level 1)
              identik (tingkat 1)
          b) input selain harga kuotasian yang termasuk                              b) inputs other than quoted prices included
              dalam tingkat 1 yang dapat diobservasi                                    within level 1 that are observable for the
              untuk aset atau liabilitas, baik secara                                   asset or liability, either directly (as prices) or
              langsung (misalnya harga) atau secara tidak                               indirectly (derived from prices) (level 2), and
              langsung (misalnya derivasi dari harga)
              (tingkat 2), dan
          c) input untuk aset atau liabilitas yang bukan                             c) inputs for the asset or liability that are not
              berdasarkan data pasar yang dapat                                         based     on observable market            data
              diobservasi (input yang tidak dapat                                       (unobservable inputs) (level 3).
              diobservasi) (tingkat 3).

          Utang bank merupakan liabilitas dengan tingkat                             Bank loans are liabilities with floating interest
          bunga mengambang, sehingga nilai tercatat                                  rates, thus the carrying amount of the financial
          setara dengan nilai wajar. Nilai tercatat dari                             liabilities approximate their fair value. The
          aset dan liabilitas keuangan lainnya telah                                 carrying amounts of other financial assets and
          berkisar menunjukkan nilai wajarnya karena                                 liabilities approximate their fair value due to the
          memiliki sifat jangka pendek dari instrumen                                short-term nature of the financial instruments.
          keuangannya.


33. REKONSILIASI UTANG BERSIH                                             33. NET DEBT RECONCILIATION

                                    Pinjaman bank       Pinjaman bank
                                    jangka pendek/     jangka panjang/    Liabilitas sewa/
                                      Short-term          Long-term            Lease
                                      bank loans          bank loans         liabilities         Total
    Saldo pada                                                                                                                 Balance as at
      1 Januari 2022                    18,700,000         403,363,958         29,325,789       451,389,747                  1 January 2022

    Arus kas:                                                                                                                     Cashflows:
       Penerimaan                           190,706                  -                   -           190,706                    Proceeds
       Pembayaran                        (2,400,000)        (4,399,426)         (5,607,191)      (12,406,617)                  Repayment
    Transaksi non-kas:                                                                                                 Non-cash transaction:
       Beban bunga                                -                  -          5,517,933         5,517,933              Interest expense
       Penambahan                                                                                                          Lease liabilities
          liabilitas sewa                         -                  -         22,145,114        22,145,114                    addition

    Saldo pada                                                                                                               Balance as at
      31 Desember 2022                  16,490,706         398,964,532         51,381,645       466,836,883           31 December 2022

    Arus kas:                                                                                                                    Cashflows:
       Pembayaran                                 -         (8,332,558)         (5,885,565)      (14,218,123)                Repayment
    Transaksi non-kas:                                                                                                 Non-cash transaction:
       Restrukturisasi perjanjian
          pinjaman                      (16,300,000)        16,300,000                  -                 -     Restructuring loan agreement
       Beban bunga                                -                  -          5,421,175         5,421,175               Interest expense
       Penambahan                                                                                                           Lease liabilities
          liabilitas sewa                         -                  -          1,039,221          1,039,221                        addition
       Laba atas restrukturisasi                            (6,456,460)                           (6,456,460)           Gain on restructuring
       Efek perubahan kurs                                                                                         Effect of foreign exchange
          Mata uang asing                     3,897                                 175,140         179,037                rate changes
    Saldo pada                                                                                                           Balance as at
       31 Desember 2023                    194,603         400,475,514         52,131,616       452,801,733            31 December 2023
Page 531
                                  PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                       DAN ENTITAS ANAK/AND SUBSIDIARIES

                                               Lampiran 5/87 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                              FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                              31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)                  (Expressed in US Dollars, unless otherwise stated)


34. SALING HAPUS ASET                 KEUANGAN        DAN      34. OFFSETTING    FINANCIAL                    ASSETS       AND
    LIABILITAS KEUANGAN                                            FINANCIAL LIABILITIES

    Aset keuangan dan liabilitas keuangan berikut ini              The following financial assets and financial liabilities
    disalinghapuskan atau tunduk kepada pengaturan                 are offsetting or subject to enforceable master
    induk untuk menyelesaikan secara neto yang dapat               netting arrangements and similar agreements.
    dipaksakan dan perjanjian serupa.

                                                                                          Jumlah bruto
                                                                                      liabilitas keuangan
                                                                                     yang diakui disaling-         Jumlah neto
                                                                                           hapuskan di           aset keuangan
                                                                                         laporan posisi          yang disajikan
                                                                                        keuangan/Gross         di laporan posisi
                                                                  Jumlah bruto             amounts of             keuangan/Net
                                                                 aset keuangan       recognised financial           amounts of
                                                                   yang diakui/         liabilities set off      financial assets
                                                                Gross amounts           in the statement           presented in
                                                                 of recognised             of financial         the statement of
                                                                financial assets             position          financial position

    31 Desember/December 2023

    Piutang usaha/Trade receivables                                     84,471,640             (12,424,708)            72,046,932
    Utang usaha/Trade payables                                          12,424,708             (12,424,708)                    -

    31 Desember/December 2022

    Piutang usaha/Trade receivables                                     52,770,222             (12,353,097)            40,417,125
    Utang usaha/Trade payables                                          12,353,097             (12,353,097)                     -



35. KELANGSUNGAN USAHA                                         35. GOING CONCERN

    Sejalan dengan pertumbuhan industri penerbangan                In line with the growth of the aviation industry post-
    pasca pandemi, Grup melakukan berbagai inisiatif               pandemic, the Group has undertaken various
    untuk terus meningkatkan kinerja keuangan dan                  initiatives   to   continually   improve     financial
    menjaga kondisi operasional. Grup berhasil                     performance and maintain operational conditions.
    melakukan peningkatan nilai transaksi dengan                   The Group successfully increased transaction value
    pelanggan selama 2023. Peningkatan tersebut                    with customers throughout 2023. This increase was
    disebabkan oleh beberapa hal seperti adanya                    attributed to several factors such as aircraft
    program reaktivasi pesawat, pemberlakuan tarif                 reactivation programs, implementation of new rates
    baru atas kontrak perawatan PBTH (“Power by the                for Power by the Hours (“PBTH”) maintenance
    Hours”), penambahan kontrak baru atas pelanggan                contracts, addition of new contracts with non-
    non afiliasi, dan pemeliharaan pesawat dari                    affiliated customers, and aircraft maintenance from
    Kesekretariatan     Negara    (Setneg).     Grup               the State Secretariat (Setneg). The Group recorded
    membukukan keuntungan sebesar AS$20,15 juta di                 a profit of US$20.15 million in 2023 (2022: US$3.63
    tahun 2023 (2022: laba AS$3,63 juta), tapi modal               million), but negative working capital of US$33.10
    kerja negatif sebesar AS$33,10 juta (2022:                     million (2022: US$47.87 million), and negative
    AS$47,87 juta), dan ekuitas negatif sebesar                    equity of US$311.16 million as at 31 December
    AS$311,16 juta pada 31 Desember 2023 (2022:                    2023 (2022: US$331.02 million).
    AS$331,02 juta).

    Selama 2023 dan berlanjut di 2024, Grup                        In 2023 and continue in 2024, the Group made
    melakukan upaya perbaikan kinerja keuangan                     efforts to improve financial performance through
    melalui     program      peningkatan     profitabilitas,       profitability   improvement      programs,   debt
    restrukturisasi utang, serta perbaikan ekuitas.                restructuring, and equity improvement.
Page 532
                             PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                  DAN ENTITAS ANAK/AND SUBSIDIARIES

                                              Lampiran 5/88 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                          FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                          31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)              (Expressed in US Dollars, unless otherwise stated)


35. KELANGSUNGAN USAHA (lanjutan)                            35. GOING CONCERN (continued)

    Peningkatan Profitabilitas                                  Profitability Improvement

    Grup melakukan peningkatan profitabilitas melalui           The Group improved profitability through initiatives
    inisiatif, yaitu:                                           such as:
    1. Peningkatan Customer Share of Wallet,                    1. Increase in Customer Share of Wallet, an
        merupakan inisiatif untuk meningkatkan porsi               initiative aimed at increasing the revenue share
        pendapatan dari pelanggan yang sudah ada saat              from existing customers. In 2023, the Group
        ini. Pada 2023, Grup berhasil meningkatkan nilai           successfully      increased    transaction   value,
        transaksi khususnya dari pelanggan di kawasan              particularly from customers in the East Asia and
        Asia Timur dan Asia Tenggara. Saat ini Grup                Southeast Asia regions. Additionally, the Group
        juga mendapatkan tambahan kontrak baru dari                acquired new contracts from several customers
        beberapa pelanggan seperti Setneg, Martin Air,             such as Setneg, Martin Air, Aerotranscargo, Max
        Aerotranscargo, Max Air, Air Atlanta, Korean Air,          Air, Air Atlanta, Korean Air, Tway, and Jin Air.
        Tway dan Jin Air.
    2. “Have Your Own MRO” merupakan inisiatif yang             2. "Have Your Own MRO" is an initiative offered to
        ditawarkan      kepada     pelanggan      dengan           customers by providing dedicated slots and
        memberikan slot khusus dan tenaga kerja untuk              manpower for their aircraft maintenance.
        perawatan      pesawatnya.     Sepanjang    2023           Throughout 2023, this program has been
        program ini telah berhasil ditawarkan ke                   successfully offered to customers.
        pelanggan.
    3. Zero Cost of Poor Quality (“COPQ”) dilakukan             3. Zero Cost of Poor Quality ("COPQ") is
        guna menjaga kualitas pelayanan melalui                    implemented to maintain service quality through
        berbagai inisiatif perbaikan kualitas sehingga             various quality improvement initiatives so that the
        aktivitas operasional bisnis Grup dapat                    Group's business operational activities can
        berlangsung secara efektif dan efisien tanpa               proceed effectively and efficiently without
        menimbulkan biaya pengerjaan kembali. Selain               incurring rework costs. In addition during 2023,
        itu pada 2023 Grup melakukan berbagai program              the Group conducted various socialisation
        sosialisasi    tentang    aspek     keselamatan,           programs on safety aspects, enhanced
        peningkatan pemahaman karyawan terhadap                    employee understanding of safety, updated
        keselamatan, melakukan pembaharuan terhadap                training materials, and incorporated safety
        materi pelatihan, serta memasukkan aspek                   aspects into employee assessment programs.
        keselamatan dalam program penilaian karyawan.
    4. Optimalisasi      Supply   Chain    Management,          4. Optimisation of Supply Chain Management
        dilakukan monitoring secara berkala atas                   involves periodic monitoring of various efforts to
        berbagai upaya perbaikan pengelolaan material,             improve material, subcontracting, and inventory
        subcont, dan persediaan, sehingga tidak                    management to prevent losses.
        menimbulkan kerugian.
    5. Optimalisasi Aset dan Persediaan, dilakukan              5. Optimisation of Assets and Inventory involves
        reviu terhadap utilisasi dari seluruh aset yang            reviewing the utilisation of all existing assets and
        ada dan persediaan tidak bergerak sehingga                 non-moving inventory to improve the level of
        dapat       memperbaiki    tingkat    optimalisasi         utilisation optimisation, as well as sales for
        pemanfaatan, maupun penjualan untuk aset/                  assets/inventory that will not be used.
        persediaan yang tidak akan digunakan.
    6. Pengembangan organisasi dan bisnis Industrial            6. Development of Industrial Solution organisation
        Solution seperti untuk pengembangan bisnis                 and business such as for the development of
        Industri Mesin Gas Turbin (”IGTE”) dan fabrikasi.          Industrial Gas Turbine Engine (“IGTE”) business
                                                                   and fabrication.
    7. Pengembangan sumber daya manusia seperti                 7. Human Resources Development such as
       pengembangan engineer tersertifikasi, program               development of certified engineers, leadership
       pengembangan kepemimpinan, serta program                    development programs, and multipurpose
       multiperan.     Program      multiperan    untuk            programs. The multipurpose program aims to
       peningkatan produktivitas tenaga kerja dengan               improve workforce productivity by providing
       memberikan program pengembangan, sehingga                   development programs so that they can
       dapat saling mengisi apabila terjadi kekurangan             complement each other in case of labor
       tenaga kerja di tipe pekerjaan tertentu.                    shortages in specific job types.
Page 533
                            PT GARUDA MAINTENANCE FACILITY AERO ASIA Tbk
                                 DAN ENTITAS ANAK/AND SUBSIDIARIES

                                            Lampiran 5/89 Schedule

CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE CONSOLIDATED
KONSOLIDASIAN                                                                         FINANCIAL STATEMENTS
31 DESEMBER 2023 DAN 2022                                                         31 DECEMBER 2023 AND 2022
(Dinyatakan dalam Dolar AS, kecuali dinyatakan lain)             (Expressed in US Dollars, unless otherwise stated)


35.   KELANGSUNGAN USAHA (lanjutan)                       35. GOING CONCERN (continued)

      Restrukturisasi Utang                                  Debt Restructuring

      Grup melakukan program Restrukturisasi Utang           The Group implemented a Debt Restructuring
      yang terdiri dari Utang Bank dan juga Utang            program consisting of Bank Debt and Supplier Debt.
      Pemasok.

      •   Restrukturisasi Utang Bank                         •     Bank Debt Restructuring
          Pada 2023 Grup melakukan restrukturisasi                 In 2023, the Group carried out debt
          utang atas kredit modal kerja BRI dan CTBC.              restructuring for the working capital credit from
          Di    tahun      2022,   Grup     melakukan              BRI and CTBC. In 2022, The Group
          restrukturisasi utang Maybank, BNI, dan IIF.             restructured loans Maybank, BNI, and IIF.

      •   Restrukturisasi Utang Pemasok                      •     Supplier Debt Restructuring
          Restrukturisasi terus dilakukan melalui skema            The restructuring was with vendors, it continued
          one-on-one (out of court), dengan status                 to be conducted through one-on-one schemes
          hingga Desember 2023 adalah telah                        (out of court), with the status as at December
          diselesaikan pembayaran utang kepada 376                 2023 that debt payments have been settled
          vendor, menyepakati payment plan dengan                  with 376 vendors, payment plans have been
          377 pemasok, dan masih dalam proses                      agreed upon with 377 vendors, and
          negosiasi dengan 7 pemasok.                              negotiations are still ongoing with 7 vendors.

      Selain itu, Grup juga melakukan perbaikan              In addition, the Group also improved the Company's
      likuiditas  Perusahaan    melalui   percepatan         liquidity by accelerating the increase in cash
      peningkatan penerimaan kas dari pelanggan,             receipts from customers, along with resolving
      beserta dengan penyelesaian utang pemasok.             supplier debts

      Perbaikan Ekuitas                                      Equity Improvement

      Melanjutkan rencana untuk melakukan penjualan          Continuing the plan to sell shares of GDPS, with the
      saham GDPS, sehingga diharapkan ke depannya            aim of allowing GDPS to further develop its
      GDPS dapat lebih mengembangkan bisnis di luar          business outside the Garuda Group (through
      Garuda Grup (melalui dukungan network dan              networks and financial support from investors). The
      financial dari investor). Grup sedang dalam tahap      Group is currently in the process of searching for
      pencarian calon investor yang berminat untuk           potential investors interested in purchasing the
      melakukan pembelian saham Grup di GDPS.                Group shares in GDPS. Additionally, alignment with
      Selain itu juga akan terus dilakukan penyelarasan      Shareholders regarding this initiative will continue.
      dengan Pemegang Saham terkait inisiatif ini.

      Grup akan kembali melakukan penjajakan                 Group will continue to explore partnerships with
      kemitraan baik dengan perusahaan penerbangan,          airlines, MROs, and OEMs, while adhering to
      MRO, maupun OEM, dengan tetap mengikuti                applicable procedures.
      prosedur yang berlaku.

      Kelangsungan usaha Grup dapat terdampak oleh           The Group’s going concern could be impacted by
      ketidakpastian material yang timbul dari risiko-       the uncertainty arising from the above risks and the
      risiko   tersebut      dan     laporan  keuangan       consolidated financial statements do not include any
      konsolidasian ini tidak termasuk penyesuaian yang      adjustments that may arise from such uncertainties.
      timbul dari ketidakpastian tersebut.
Page 534
Laporan Terintegrasi
Integrated Report      2023




Navigating Profitability Through
Operational Advancements
for Sustainable Growth
Menavigasi Profitabilitas Melalui Kemajuan Operasional
untuk Pertumbuhan yang Berkelanjutan




  PT GMF AeroAsia Tbk
  GMF Management Building 3rd Floor Soekarno Hatta International
  Airport (CGK) Tangerang – Indonesia PO. BOX 1303 15125




  Online                                                Phone & Fax
  Email:    corporatecommunications@gmf-aeroasi.co.id   Phone:        +62 215508717
                                                        Fax:          +62 21 550 3555   www.gmf-aeroasia.co.id

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Published6 Jun 2024
Pages534
Characters2,735,760
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Names mentioned 115 people and organisations named in the text · linked when the evidence is strong

linked org Garuda Maintenance Facility Aero Asia Tbk · Nama Perusahaan p.1 ×419
linked person Ali Gunawan p.32 ×8
linked person ANDI FAHRURROZI p.34 ×10
linked person Irvan Pribadi p.40 ×6
linked org Garuda Indonesia (Persero) Tbk p.46 ×74
linked org PT Aero Wisata p.46 ×8
linked org Angkasa Pura p.73 ×2
linked org PT Asuransi Bintang p.78
linked org PT TRANS AIRWAYS p.89 ×2
linked org Dana Pensiun p.92
possible org Otoritas Jasa Keuangan p.6 ×5
possible person Rahmat Hanafi p.32 ×8
possible org Bursa Efek Indonesia p.46 ×5
possible org Asuransi Tbk p.78 ×2
possible org PEMERINTAH REPUBLIK INDONESIA p.89 ×5
possible org Negara Republik Indonesia p.192
unresolved org Kementerian Pertahanan p.4
unresolved org Ministry of Defense p.4
unresolved org Financial Services Authority p.6 ×5
unresolved org PT Garuda Maintenance Facility Aero p.6
unresolved org Garuda Maintenance Facility Asia Tbk p.6 ×2
unresolved org Aero Asia Tbk p.6
unresolved org PT Garuda p.7 ×6
unresolved org Maintenance Facility Aero Asia Tbk p.7 ×2
unresolved org Findings Company Manajemen Risiko Informasi Kelangsungan p.8
unresolved person GMF · Direktur p.22
unresolved org Menteri p.22 ×3
unresolved org Pusat Statistik p.29
unresolved org PT GDPS p.36 ×3
unresolved org Kementerian BUMN. p.40 ×3
unresolved org Minister of State-Owned Enterprises Peraturan Menteri Badan Usaha Milik Negara p.40
unresolved org PT Garuda Maintenance p.42 ×2
unresolved org Maintenance Facility Aero Asia Facility Aero Asia Tbk p.42 ×2
unresolved person Base Operation · Direktur p.43
unresolved person Line Operation · Direktur Keuangan p.43 ×2
unresolved org Minister of Justice p.46
unresolved org Indonesia Stock Exchange p.46 ×2
unresolved org PT Aero Wisata Publik p.48
unresolved org PT Garuda Maintenance Facility Aero Garuda Maintenance Facility p.49
unresolved person Notary Arry Supratno p.49 ×3
unresolved person Supratno p.49
unresolved person Notary Shanti Indah Lestari · Notaris p.49 ×28
unresolved org PT GMF AeroAsia. p.50
unresolved org Ministry of Finance p.50 ×3
unresolved org Menteri BUMN p.53
unresolved org Minister of MBU p.53
unresolved org Directorate General of Civil p.56 ×2
unresolved org Ministry of Land p.56
unresolved org Ministry of Transport p.56 ×2
unresolved org Minister of Land p.56
unresolved org Directorate General of Civil Aviation p.58
unresolved person Lestari p.68
unresolved org Kota Tangerang Domicile Diangkat · Komisaris Utama p.69
unresolved person Appointment Indah Lestari p.69
unresolved org Indonesia (Persero) Tbk p.70 ×5
unresolved org Kementerian BUMN No. SR- p.71
unresolved org Ministry of Stated Owned Enterprise p.71
unresolved org PT CT Corpora p.71
unresolved org PT CT p.71
unresolved — Semarang Domicile Diangkat · Komisaris Independen p.72
unresolved — Tangerang Selatan Domicile Diangkat · Komisaris Independen p.73 ×4
unresolved org PT Angkasa Pura Support p.73 ×2
unresolved org Menteri Pertahanan p.73
unresolved org Minister of Bidang Komunikasi p.73
unresolved org Menteri Perhubungan Bidang Digital p.73
unresolved org Minister of Transportation Pengalaman Kerja p.73
unresolved — Tangerang Domicile Diangkat · Direktur Utama p.75
unresolved person Rangkap · Komisaris p.75
unresolved — Depok Domicile Diangkat · Direktur p.76
unresolved org PT Asuransi BCA p.78
unresolved org PT Penjamin Infrastruktur Indonesia p.78 ×2
unresolved org PT Penjamin p.78
unresolved org Insurance Corporation p.78 ×3
unresolved person Deputi · Direktur p.78
unresolved org Kementerian Keuangan p.78
unresolved — Bekasi Domicile Diangkat · Direktur p.79
unresolved person PLH · Direktur p.79
unresolved org PT Aerowisata p.80 ×2
unresolved org Kementerian Badan Usaha Milik Negara p.89 ×2
unresolved org Ministry of State- p.89
unresolved org PT GARUDA DAYA PRATAMA SEJAHTERA p.89
unresolved org PT Trans Airways Public p.91
unresolved org Kantor Akuntan Publik Tanudiredja p.147
unresolved org Rintis & Rekan p.147
unresolved org Government of the Republic of Indonesia p.147 ×2
unresolved org Kementerian Keuangan Pemerintah Republik Indonesia p.147
unresolved org Kementerian Keuangan Pemerintah p.147
unresolved org Milik Negara p.152 ×3
unresolved org Minister of State-Owned Enterprise p.152 ×2
unresolved org Menteri BUMN RI Nomor PER- p.152
unresolved org Minister of SOE p.152
unresolved org Menteri BUMN RI p.154
unresolved org Minister of SOE Number SK- p.154
unresolved org Kementerian BUMN RI p.154
unresolved org Ministry of SOE Indonesian Ministry of SOE p.154
unresolved org Ministry of SOE p.154
unresolved org Departemen Human Capital Management p.163
unresolved person Eldira Umar Ali Zain. Meanwhile p.163
unresolved person Eldira Umar Ali Zain. Sedangkan · Direktur p.163
unresolved person Pudjo p.163
unresolved person Pudjo Sarwoko. Profil p.163 ×9
unresolved org PT Multi Utama Indojasa p.171 ×6
unresolved person Consistent Implementation · President Commissioner p.171 ×6
unresolved — Location Bapak Dharmadi · Komisaris Utama p.172
unresolved person Dharmadi p.172 ×2
unresolved person Abhan · Komisaris Independen p.172 ×3
unresolved person Governance Fundamentals · Komisaris p.172
unresolved org Menteri Negara Badan Usaha Milik p.188
unresolved org Minister of State Owned Enterprises p.188
unresolved org Menteri Negara BUMN No. PER- p.188 ×3
unresolved person Decree · Direktur Utama p.191
unresolved org Ministry of State-Owned Enterprises p.192
unresolved org Milik Negara Republik Indonesia p.192
unresolved org Milik p.192

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