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Paparan Publik Tahunan 2024 Annual Public Expose 2024 PT ITSEC Asia Tbk (“Perseroan / the Company”) Jakarta, 30 Mei 2024
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Table of Contents
1. Ringkasan Bisnis
Executive Summary
2. Ikhtisar Bisnis
Business Overview
3. Produk Baru : IntelliBroń
New Product : IntelliBroń
4. Ringkasan Kinerja Keuangan
Summary Financial
5. Hasil RUPS Tahunan
AGMS Results
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 1
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Section 1
Ringkasan Bisnis
Executive Summary
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 2
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ITSEC at a Glance
Company Overview Office Locations
ITSEC’s three-stage security ecosystem (Assessment, Implementation and
Analysis) ensures complete and continuous protection of clients’ IT
infrastructure against multiplying cybersecurity threats, and compliance with
increasingly demanding government regulation.
● Founded: 2010.
● Operations: Founded in Indonesia, and expanded to Singapore and
Australia. Currently serves clients in 13 APAC countries.
● Full Time Staff: 247 employees as of 31 December 2023.
● Listed on the IDX: ITSEC Asia listed on IDX since 8 August 2023.
● Industry Accreditations: verified by Badan Siber & Sandi Negara (BSSN),
accreditation by CREST, ISO 9001, ISO 14001, ISO 27001, and additionally
BizSafe3, AISP and EPPU in Singapore.
Serving 60+ Blue-Chip Clients
ITSEC is a fast-growing cybersecurity group serving blue-chip clients in 13
countries throughout APAC across wide range of Industries:
● Banking
● Finance & Insurance
● Telecommunications & IT
● Government, Energy, E-commerce, Healthcare, and Others
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 3
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Company Mission & Vision
ITSEC Mission Statement
To provide state-of-the-art cybersecurity services and solutions in
the fields of information technology (IT) security, operational
technology (OT) security and fraud prevention for banking, finance,
telecommunications, energy, transportation, manufacturing, and
other critical sectors.
ITSEC Vision Statement
To achieve a market leading position by becoming the most
trusted brand in the cybersecurity industry.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 4
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ITSEC Asia Milestones
2010 2018 2023
CYBER SECURITY OPERATION
A NEW BEGINING IPO & NEW SERVICES
CENTER (CSOC)
●ITSEC Asia invests in Initial Public Offering (IPO) and
●ITSEC Asia was ●ITSEC Asia established Cyber Security Operation delivers new services in response to cyber security
established Center (CSOC) in BSD, Tangerang, in response to tendencies.
the operational needs
2017 2022 2024
EXPANSION
NEW INVESTOR ●Acquisition of ITSEC Australia Pty. Ltd.
NEW PRODUCT
●StoneTree, an international trading (Incorporated in 2017) to create Service Centre
of Excellence in Australia. ● ITSEC Asia launches a new
corporation based in Dubai, UAE, has
●Acquisition of ITSEC Services Asia Pte. Ltd. product called IntelliBroń
joined as a major investor in ITSEC Asia.
(Incorporated in 2018) to create Service Centre
of Excellence in Singapore.
●The Headquarters of ITSEC Asia relocated from
RDTX Tower to Noble House, Jakarta, Indonesia
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 5
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Section 2
Ikhtisar Bisnis
Business Overview
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 6
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ITSEC Asia Services & Solutions
ITSEC takes a strategic approach in providing complete cyber security solutions to its clients:
Penetration Testing & Red Teaming Audits, Risks, Assurance & Compliance
Simulated cyberattacks to identify weaknesses ITSEC helps organisations to be highly focused
and improve your organization's resilience. with their future security investments.
Managed Security Services
Security Solution Integration
Providing a cost-effective outsourcing option
Tailored security consulting solutions to assess, strategize,
where high quality security solutions can be
and optimize your organization's security posture.
delivered at pace.
V-CISO Threat Hunting & Compromise
Help companies improve their cybersecurity Assessments
architecture by providing expert advice on their Proactive threat monitoring and intelligence
critical security issues. gathering to stay ahead of emerging cyber
threats.
Information Security Analysis OT/loT Security
Offerings and provides a comprehensive analysis Cyber resilience for operational technology (ot)
of an organization's' cyber security posture. environment.
Application Security Digital Forensics & Incident Response
Provides a variety of application security services Combines technical and strategic advice to
that allow organizations to focus on the positive ensure all aspects of a cyber attack are managed
opportunities from applications. effectively.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 7
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Our Managed Solutions
Fraud Management DevSecOps SOC
Delivered the largest Delivered Delivered
Fraud Management DevSecOps for the SOC for
System largest bank in South the largest bank in
in South East Asia East Asia South East Asia
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 8
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ITSEC Competitive Advantages
Top-Tier Client Base Established Partnerships with Best-In-Class
ITSEC has established a strong client base, serving over 60 Cybersecurity Software Providers.
blue-chip customers across a variety of industries such as The Company has established long-term deals with global
telecommunications, media, transport, energy, government, software vendors, creating scale economies with leading
e-commerce, banking and financial services. cybersecurity players such as Microsoft, SecureWorks,
Checkmarx, Proofpoint, Darktrace and Nextron.
End-To-End Services and Solutions Offering Cybersecurity Technology Innovation
The Company's diverse client offering, ranging from The Group is involved in several technology IP development
Managed Security Services to Risk and Compliance, initiatives including AI (Artificial Intelligence) tools and AI-
Application Security, and Digital Forensic & Incident enabled automation workflows. Management have an
Response, ensures ITSEC’s ability to meet differing client opportunity to develop and monetize proprietary IP to create
needs while offering multiple growth opportunities. new long-term revenue streams.
Distinctive Value Add Marketing
Continuous Improvement in Service Capabilities The Group has made significant investments in marketing to
ITSEC's steady investment in new cybersecurity service build awareness through distinctive branding, and value-add
capabilities, including Fraud Management and Critical
cybersecurity summits and client events. Furthermore, the
Infrastructure Security, ensures that the Company can meet Company holds educational symposiums in partnership with
evolving client needs and has a growth above 25% per year.
Indonesian Universities and institutes of higher education and
runs an internship program for Indonesian students.
Investment in Talent for Premier Client Service Experienced leadership team
ITSEC meaningfully invests in company certifications and ITSEC's experienced management team in Indonesia, Singapore
accreditations, enhancing employee skills and qualifications, and Australia, is committed to building ITSEC Group into a
resulting in best-in-class service for clients and low staff churn. leading international player.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 9
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Accredited & Certified
PT ITSEC Asia is a member of CREST and holds ISO 27001 and ISO 9001 certifications
Consultant Certifications : Project Management Certifications :
OSCP, OSCE, OSEP, OSWE, CRT, CPSA, CRTP, PMP, P2P, P2AP,
CISSP, CISA, CISM, CSXF, CSXP, CEH, GPEN, ITIL-F, CSM, CSPO,
GSEC, GCIA, GCIH, GDPR … CITPM, ICP-ACC
SWIFT CSP Assessment and Cyber
Security Service Providers
ISO certifications and BSSN verification apply to PT ITSEC Asia Tbk, CREST, CSRO & Dubai Cyber Force certification apply to ITSEC Services Asia Pte. Ltd.t
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 10
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Sales, Marketing & CSR
Dedicated Sales Team
PT ITSEC Asia distributes its cybersecurity solutions and services directly to
clients. All sales are done via the Company’s dedicated internal Sales and
Business Development Teams.
Investment in Marketing and Branding
The Company maintains a media presence to promote the ITSEC brand and
ITSEC: Cyber Security Summit 2023
services via media appearances and interviews.
Since 2022, the Company appeared in over 300 total media programs, press
articles and online media articles including TV, radio, press and newspaper
articles, Instagram, YouTube, LinkedIn, and company websites.
ITSEC hosts value-add cybersecurity summits and client events, including
the Cyber Security Indonesia Summit 2023, held in January 2023 at the JW
Marriott in Jakarta with over 300 attendees.
Corporate Social Responsibility
Media Interview
The Company holds educational symposiums in partnership with Indonesian
Universities and institutes of higher education and runs an internship
program for Indonesian students.
Campus Partnership
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 11
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Section 3
Product Baru : IntelliBroń
New Product : IntelliBroń
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 12
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The
Story
Begins…
Challenges Faced by SMEs
The cost associated
A glaring absence of The prioritization of
with the available
dedicated people with cybersecurity budgetary
technology remains
cybersecurity skills. resources often overlooks
high.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 13
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In an era of increasing cyber threats, safeguarding your business
against malicious actors is no longer optional – it's a necessity.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 14
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The Birth of
IntelliBroń ITSEC Asia recognized the need for more accessible and scalable cybersecurity solutions for
Small and Medium-sized Enterprises (SMEs). This led to the creation of IntelliBroń, an AI-
powered security companion designed to assist humans in defending against cyber-attacks.
IntelliBroń leverages modern technology to automate many security tasks, making
cybersecurity more affordable and user-friendly for SMEs.
IntelliBroń was created by an Indonesian team in ITSEC Asia's R&D Department,
curated the best available resources to create an application tailored specifically for SMEs.
The Features of IntelliBroń
Real-Time Threat Threat Hunting with
Detection an Al Companion
Unified Dashboard
for Improved Reporting Tools &
Visibility User Management
Alert Consolidation
Threat Intel
& Team Collaboration Integration
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 15
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Section 4
Ringkasan Kinerja Keuangan
Summary Financials
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 16
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PT ITSEC Asia Financial Summary CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 17
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PT ITSEC Asia Financial Summary CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 18
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PT ITSEC Asia Financial Summary CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 19
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Section 5
Hasil RUPS Tahunan
AGMS Results
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 20
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Mata Acara 1 / Agenda 1
● Menyetujui dan mengesahkan Laporan Tahunan termasuk Laporan Keuangan Perseroan dan Laporan Pengawasan Dewan
Komisaris Perseroan untuk Tahun buku yang berakhir pada tanggal 31 Desember 2023, serta memberikan pelunasan dan
pembebasan tanggung jawab sepenuhnya (acquit et de charge) kepada Direksi dan Dewan Komisaris Perseroan atas tindakan
pengurusan dan pengawasan yang telah dilakukan selama tahun buku yang berakhir pada tanggal 31 Desember 2023.
● To approve and ratify the Annual Report including the Company's Financial Statements and the Supervisory Report of the
Board of Commissioners for the financial year ended on December 31, 2023, and to release and discharge of all
responsibilities (acquit et de charge) to all Board members for the management and supervision carried out during the
financial year ended on December 31, 2023.
Mata Acara 2 / Agenda 2
● Menyetujui untuk tidak membagikan dividen tunai kepada pemegang saham dan tidak menyisihkan dana cadangan
mengingat Perseroan masih mengalami rugi sebesar Rp.37.262.441.738,- (tiga puluh tujuh miliar dua ratus enam puluh
dua juta empat ratus empat puluh satu ribu tujuh ratus tiga puluh delapan Rupiah) sebagaimana tercantum dalam
Laporan Keuangan Perseroan untuk Tahun Buku yang berakhir pada tanggal 31 Desember 2023.
● Approved not to distribute cash dividends to shareholders and not to set aside reserve funds considering that the
Company is still experiencing a loss of Rp.37,262,441,738 (thirty-seven billion two hundred sixty-two million four hundred
forty-one thousand seven hundred thirty-eight Rupiah) as stated in the Company's Financial Statements for the
Financial Year ended on December 31, 2023.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 21
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Mata Acara 3 / Agenda 3
● Menyetujui penetapan Gaji dan/atau honorarium dan/atau remunerasi dan/atau tunjangan lainnya bagi masing-masing
anggota Direksi dan anggota Dewan Komisaris Perseroan serta pemberian wewenang dan kuasa kepada Dewan
Komisaris Perseroan untuk menetapkan gaji dan/atau honorarium dan/atau remunerasi dan/atau tunjangan lainnya bagi
masing-masing anggota Direksi Perseroan dan Dewan Komisaris untuk tahun buku 2024.
● Approve the determination of Salary and/or honorarium and/or remuneration and/or other benefits for each member
of the Board of Directors and Board of Commissioners of the Company and authorize the Board of Commissioners of
the Company to determine the salary and/or honorarium and/or remuneration and/or other benefits for each member
of the Board of Directors and Board of Commissioners for the financial year 2024.
Mata Acara 4 / Agenda 4
● Menyetujui pemberian Kuasa kepada Dewan Komisaris Perseroan untuk menunjuk Kantor Akuntan Publik untuk
mengaudit atas buku-buku Perseroan untuk Tahun Buku yang akan berakhir pada tanggal 31 Desember 2024
sekaligus memberikan kuasa kepada Direksi Perseroan untuk menetapkan honorarium dan persyaratan-persyaratan
lain sehubungan dengan penunjukan Kantor Akuntan Publik tersebut.
● Approved the granting of Power of Attorney to the Company's Board of Commissioners to appoint a Public Accountant
Firm to audit the Company's books for the Financial Year ending on December 31, 2024 as well as granting power to
the Company's Board of Directors to determine the honorarium and other requirements in connection with the
appointment of the Public Accountant Firm.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 22
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Mata Acara 5 / Agenda 5
Jumlah dana bersih yang dihasilkan pada Penawaran Umum Perdana adalah sebesar Rp.92.189.930.696,- (sembilan puluh dua miliar
seratus delapan puluh sembilan juta sembilan ratus tiga puluh ribu enam ratus sembilan puluh enam Rupiah). Dari jumlah dana yang
dihasilkan tersebut, pada tahun 2023 telah digunakan sejumlah dana dengan rincian Penggunaan Dana Hasil Penawaran Umum Perdana
Perseroan per 31 Desember 2023 adalah sebagai berikut:
1. Rp.44.716.209.395,- (empat puluh empat miliar tujuh ratus enam belas juta dua ratus sembilan ribu tiga ratus sembilan puluh lima
Rupiah) atau sebesar 48,5% (empat puluh delapan koma lima persen) telah digunakan sebagai modal kerja; dan
2. Rp.3.825.170.647,- (tiga miliar delapan ratus dua puluh lima juta seratus tujuh puluh ribu enam ratus empat puluh tujuh Rupiah) atau
sebesar 4,15% (empat koma satu lima persen) telah digunakan untuk pengembangan usaha.
Dengan demikian sisa Dana Hasil Penawaran Umum Perdana Perseroan adalah sebesar Rp.43.648.550.654,- (empat puluh tiga miliar enam
ratus empat puluh delapan juta lima ratus lima puluh ribu enam ratus lima puluh empat Rupiah). Sisa dana tersebut akan digunakan pada
Tahun Buku 2024.
The total net proceeds generated in the Initial Public Offering amounted to Rp.92,189,930,696, - (ninety-two billion one hundred eighty-nine
million nine hundred thirty thousand six hundred ninety-six Rupiah). From the total funds generated, in 2023, a number of funds have been
used with details of the Use of Proceeds from the Company's Initial Public Offering as of December 31, 2023 are as follows:
1. Rp.44,716,209,395 (forty-four billion seven hundred sixteen million two hundred nine thousand three hundred ninety-five Rupiah) or
48.5% (forty-eight-point five percent) has been used as working capital; and
2. Rp.3,825,170,647 (three billion eight hundred twenty-five million one hundred seventy thousand six hundred forty-seven Rupiah) or
4.15% (four-point one five percent) has been used for business development.
Therefore, the remaining proceeds from the Company's Initial Public Offering amounted to Rp.43,648,550,654 (forty-three billion six
hundred forty-eight million five hundred fifty thousand six hundred fifty-four Rupiah). The remaining funds will be used in Financial Year
2024.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 23
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Mata Acara 6 / Agenda 6
● Menyetujui Perubahan Penggunaan Dana Hasil Penawaran Umum Perdana, menjadi sebagai berikut:
Approved the Change in the Use of Proceeds from the Initial Public Offering, as follows:
Modal Kerja sebesar 90% terdiri dari | Working Capital of 90% consists of:
∙ Sebesar 35% untuk mengembangkan tim cybersecurity yang sudah ada di Indonesia, Singapura dan Australia.
35% to develop existing cybersecurity teams in Indonesia, Singapore and Australia.
∙ Sebesar 8% untuk merekrut tim baru dan untuk biaya operasional, termasuk penyewaan kantor di wilayah baru.
8% to recruit new teams and for operational costs, including leasing offices in new territories.
∙ Sebesar 15% untuk membiayai proyek-proyek jangka panjang Perseroan, termasuk untuk pembelian perangkat keras dan perangkat lunak untuk pelanggan.
15% to finance the Company's long-term projects, including hardware and software purchases for customers.
∙ Sebesar 4% untuk pemasaran dalam rangka mempromosikan layanan Perseroan dan menyelenggarakan simposium edukasi cybersecurity.
4% for marketing in order to promote the Company's services and organize cybersecurity education symposiums.
∙ Sebesar 2% untuk mendapatkan akreditasi untuk kantor regional baru dan untuk meningkatkan sertifikasi profesional para staf.
2% to obtain accreditation for new regional offices and to improve professional certification of staff.
∙ Sebesar 25% untuk membangun tim R&D untuk mengembangkan Cloud-Based Managed Security Services untuk pasar UMKM, Data Protection Services, produk cybersecurity untuk pasar
telekomunikasi, dan untuk mendukung bisnis yang sudah ada.
25% to build R&D teams to develop Cloud-Based Managed Security Services for the MSME market, Data Protection Services, cybersecurity products for the telecommunications market,
and to support existing businesses.
∙ Sebesar 8% untuk membangun tim R&D untuk mengembangkan perangkat cybersecurity yang dibantu oleh Artificial Intelligence (AI) dan alur kerja otomatisasi yang didukung oleh AI.
8% to build R&D teams to develop cybersecurity tools assisted by Artificial Intelligence (AI) and automation workflows powered by AI.
∙ Sebesar 1% untuk merekrut tim R&D untuk mengembangkan perangkat pelatihan cybersecurity.
1% to recruit R&D teams to develop cybersecurity training tools.
∙ Sebesar 3% untuk penyewaan fasilitas R&D di Noble House, lantai 11.
3% for rental of R&D facilities at Noble House, 11th floor.
Belanja Modal sebesar 10% terdiri dari | Capital Expenditure of 10% consists of:
∙ Sebesar 30% untuk pembelian laptop dan peralatan kantor dalam rangka mendukung pertumbuhan Perseroan di pasar yang ada di Indonesia, Singapura dan Australia.
30% for the purchase of laptops and office equipment in order to support the Company's growth in the existing markets in Indonesia, Singapore and Australia.
∙ Sebesar 8% untuk renovasi kantor, serta pembelian laptop dan peralatan kantor di wilayah-wilayah baru.
8% for office renovations, as well as the purchase of laptops and office equipment in new territories.
∙ Sebesar 23% untuk renovasi fasilitas R&D di Noble House, lantai 11.
23% for renovation of R&D facilities at Noble House, 11th floor.
∙ Sebesar 39% untuk menambah peralatan dan perlengkapan laboratorium cybersecurity di Indonesia, termasuk untuk Laboratorium Keamanan OT (Operational Technology) dan
Laboratorium Forensik Digital.”
39% to add cybersecurity laboratory equipment and equipment in Indonesia, including for OT Security Laboratory (Operational Technology) and Digital Forensics Laboratory.
CONFIDENTIAL | Copyright c 2024 ITSEC Asia. All rights reserved. 24
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Thank You INDONESIA SINGAPORE AUSTRALIA Noble House, Level 11. 112 Robinson Road, #11-04 Level 18, 390 St Kilda Road Jakarta 12950, Indonesia Singapore 068902 Melbourne Victoria 3004 contact@itsec.asia contact@itsec.sg info@itsec.com.au +62 (21) 29783050 +65 3159 1145 +61 403 185 051
Names mentioned 5 people and organisations named in the text · linked when the evidence is strong
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Siber & Sandi Negara
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ITSEC Australia Pty. Ltd.
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ITSEC Services Asia Pte. Ltd.
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PT ITSEC Asia Financial Summary CONFIDENTIAL
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