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Page 1
Growing Strong
and Sustainable
2023 Annual Report
PT Mandiri Tunas Finance
Page 2
Introduction
This PT Mandiri Tunas Finance Annual Report 2023 contains financial condition, result of operation, policies,
projection, plans, strategies and objectives of Mandiri Tunas Finance that are classified as forward-looking
statements in accordance with applicable laws and regulations, except for those that are historical in nature. Such
statements involve prospective risks, uncertainties and could cause actual developments to differ materially from
those reported. Forward-looking statements in this Annual Report are based on assumptions about current and
future conditions and the business environment in which Mandiri Tunas Finance conducts business. Mandiri Tunas
Finance does not guarantee that the documents that have been confirmed as valid will bring certain results as
expected. This Annual Report contains the words “the Company”, “MTF”, “Mandiri Tunas Finance” which are defined
as PT Mandiri Tunas Finance which carries out the main business activities in the field of providing four-wheeled
vehicle financing services, heavy equipment financing, and other financing. Occasionally the word “we” is used for
convenience to refer to PT Mandiri Tunas Finance in general.
This annual report can be viewed and downloaded from the official website of Mandiri Tunas Finance at
www.mtf.co.id
About the 2023 Annual Report of
PT Mandiri Tunas Finance
The main purpose of preparing the 2023 Annual Report of PT Mandiri Tunas Finance is to improve the Company’s
information disclosure to the relevant authorities by becoming a source of comprehensive documentation containing
information on the Company’s performance during the year. The information contains complete documentation
describing the Company’s profile, operational, marketing, and financial performance. Information on the duties,
roles, and structural functions of the Company’s organization that applies the concept of best practices and
principles of Good Corporate Governance (GCG). In addition, this Annual Report also aims to build understanding
and trust about Mandiri Tunas Finance by providing precise, balanced and relevant information. Shareholders and
all other stakeholders can obtain adequate information regarding the policies that have been and will be carried
out and the success of the Company’s achievements in 2023. The Mandiri Tunas Finance Annual Report 2023 is
presented in 2 (two) languages, namely Bahasa Indonesia and English in different books using a type and font size
that is easy to read and printed in good quality.
2 2023 Annual Report | PT Mandiri Tunas Finance
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Theme Explanation
Growing Strong
and Sustainable
The Indonesian economy is gradually improving following
the government’s removal of the PPKM policy in early 2023,
which has led to an increase in consumer spending. The
Indonesian multi-finance industry is experiencing rapid
growth, dominated by investment financing, working capital,
and multi-purpose financing. As a major player in the
financing industry, Mandiri Tunas Finance (MTF) is preparing
itself to seize the market and emerge as a leader.
Through the strategic theme “Building New Foundation to
Win the Market,” which means establishing a new foundation
to enhance the company’s performance in order to win the
market. The main foundation of this strategic theme is the
development of internal conditions as a fundamental for
growth.
There are three strategic initiatives that have been implemented to achieve excellent performance: Growing the
captive business segment originating from Bank Mandiri; Maintaining the business segment originating from
dealers and partners; and Optimizing the database to add value to customers. In addition to these strategic
initiatives, operational development of the Company is also conducted from several aspects.
One of them is digital transformation, which brings changes in customer behaviour. The MTF mobile facility is
a digitalization program of the Company to serve existing customers such as payments, settlements, insurance
claims, and additional orders, thereby enhancing the motor vehicle financing business while maintaining good
financing quality.
The overall strategy is implemented optimally to substantiate MTF’s vision and mission of becoming your Trusted
Financing Partner, which can provide reliable, fast and easy service to customers.
2023 Annual Report | PT Mandiri Tunas Finance 3
Page 4
Theme Continuity
Accelerating Performance
PT Mandiri Tunas Finance (the Company) aimed to accelerate the performance
improvement that had been realized through a number of strategic
initiatives under the theme “Elevate Business to the Next Level” in 2022. The
guiding principle of this initiative is to improve business performance
beyond what has been achieved thus far.
Three initiatives are being carried out. First, optimizing the captive market
business by improving the collaboration model and synergizing with Bank
Mandiri through Mandiri Group Referrals for individual and corporate
customers.
Second, to encourage the acceleration of dealership-based business, which
is the Company’s core business activity. Dealers are now the primary channel
for delivering financing to customers.
Third, business diversification and database optimization through
multipurpose financing and fintech channeling. The strategy is focused on
making positive contributions. Thus, the Company expanded its marketing
network to support these strategies by strengthening telemarketing teams
and agents.
The strategic initiatives that have been implemented have positively
impacted the Company’s performance, resulting in higher growth. Therefore,
the Company believes that these results will continue to improve in the
future.
Reviving the Performance
After in 2020 MTF recorded a deep loss, in 2021 MTF returned to its original
path by posting a net profit of IDR245.88 billion, in line with the conditions
of the automotive industry and car sales that began to pick up and the
Company’s ability to manage expansive and effective financing. Optimizing
collection activities for customer installment receipts to continue to
strengthen cash flow, selective in financing distribution and financing
sourced from parent entity referrals that can mitigate risk and maintain
credit quality; these steps have brought MTF back up to restore its
performance.
4 2023 Annual Report | PT Mandiri Tunas Finance
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Company Logo Meaning
The Mandiri Tunas Finance brand identity includes
symbol, letter logo, colour, and tagline. Simply put,
each item can be explained as follows:
Lowercase Letters Dark Blue Letters
The use of lowercase letters signifies a Hospitality Represents comfort, calmness, soothing, noble
attitude towards all business Segment that are entered heritage, stability, seriousness (respect), and durability
by Bank Mandiri and shows shows a great desire to (reliable). It symbolizes professionalism, a strong
humbly serve all customers (customer centric). foundation, loyalty, trustworthiness, and high honor.
Yellow Gold (Yellow to Orange) Golden Liquid Wave Shape
A precious metal color that signifies grandeur, glory, As a symbol of financial wealth in Asia that emphasizes
prosperity, and wealth. It symbolizes activity, creativity, the agile, progressive, forward-looking, excellent,
festivity, friendliness, fun and comfort. flexible, and tough nature in facing all challenges that
will be faced in the future.
2023 Annual Report | PT Mandiri Tunas Finance 5
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Best Achievements in 2023
2023
Rp
4,752,900
Rp
Income 20,89% YoY
(in million rupiah)
Income growth came from an increase in consumer financing income
of 23.12%.
2022 Rp
3,931,508
2023
29,727,392
Rp
Rp
Total Asset 25.28% YoY
(in million rupiah)
The total assets growth came from an increase in consumer financing
receivables of 36.85%
2022 Rp
23.728.966
2023
Rp
1,161,101
Income for 54.77% YoY
the Year Profit growth comes from an increase in revenue of 20.89%
(in million rupiah) (in million rupiah) & cost efficiency of 34.34%
2022 Rp
750,213
2023
Rp
32,697,903
New Financing 17.75% YoY
Contract Value The value of new financing contracts growth comes from an increase in
(in million rupiah) used car financing of 45.16% YoY (Nominal Financing)
2022 Rp
27,769,264
2023
116,255
Rp
New Contract Unit 11.54%YoY
for Car Financing The new contract units growth for car financing (units) sourced from
(unit) an increase in used car financing of 30.11% YoY (Units)
2022
104,229
6 2023 Annual Report | PT Mandiri Tunas Finance
Page 7
2023
0.70
Rp
NPL
The Company always maintains the quality of financing to create
(in percentage (%))
sustainable businesses
2022 0.72
2023
Rp
57.99
BOPO
The Company continues to maintain efficiency for business growth
(in percentage (%))
2022 61.56
2023
Rp
225,064
%
Dividend
The Company distributes dividends to shareholders on
(in million rupiah)
business results in 2023
2022 Rp
49,175
2023
GCG Value by the
83.1
The Company continues to make improvements
Corporate Governance to create better GCG
Perception Index
(score)
2022 82.3
2023
591,092
Rp
Rp
Electric Vehicle 198.15% YoY
Financing The Company continues to support sustainable finance through financing
(unit) of environmentally friendly vehicles
2022 Rp
198,254
2023 Annual Report | PT Mandiri Tunas Finance 7
Page 8
Table of Contents
2 Introduction 70 Profile of Chief
About the 2023 Annual Report of 73 Division Head and/or Equivalent Position
2
PT Mandiri Tunas Finance
74 Employee Demographics
3 Theme Explanation
Education and/or Training for The Board of
4 Theme Continuity Commissioners, Board of Directors, Committees,
77
Corporate Secretary, Internal Audit, and Risk
5 Company Logo Meaning Management
6 Best Achievements in 2023 81 Structure and Composition of Shareholders
8 Table of Contents Information on the Shares Ownership of
81
Mandiri Tunas Finance by Key Management
2023
01
Performance 85 Chronology of Stock Issuance
12 Summary of Important Financial Data 85 Chronology of Other Security Issuance
18 Operations Overview Information About the Group Structure and
Business Segments, Subsidiaries, Associates, as
18 Share Overview 87
well as Joint Venture (JV) and Special Purpose
Vehicle (SPV)
19 Bonds, Sukuk, or Convertible Bonds Overview
87 Public Accountant
20 Awards and Certifications
88 Supporting Institutions and Professions
22 Events Highlights
90 Company Website
Management
02
Report 92 Regions of Operation
32 Board of Commissioners Report Management Discussion
04
36 Board of Directors Report
& Analysis
116 Financial Review
Statement Letter of Members of
The Board of Commissioners Regarding Company Ability in Efficiency and Producing
44 122
Responsibility for The 2023 Annual Report Profit
PT Mandiri Tunas Finance
123 Solvency
Statement Letter of Members of
The Board of Directors Regarding Responsibility Financing Facilities and Accounts Receivable
45 125
for The 2023 Annual Report PT Mandiri Tunas Collectibility
Finance
Capital Structure and Management Policy on
128
Company Capital Structure
03
Profile Material Commitments for Investment In Capital
129
Goods
50 General Information and Company Identity
129 Realization of Investment in Capital Goods
51 Brief Company History
Material Information and Facts Occurring
54 Milestones 130
Subsequent to the Accounting Report Date
Company’s Vision, Mission, Culture and Core
56 Comparison Between Targets and Realization,
Value 130
as Well as One-Year Projections
Line of Business as well as Products and
58 Business Prospect and Performance Projection
Services 131
for 2024
59 Association Membership
132 Tax Compliance
60 Structure of Organization
Material Information Regarding Investment,
62 Profile of The Board of Commisioners 133 Expansion, Divestment, Mergers, Acquisitions,
Debt/Capital Restructuring
66 Profile of The Board of Directors
8 2023 Annual Report | PT Mandiri Tunas Finance
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Realization of the Use of Funds from Public Meeting of the Board of Commissioners and
133 183
Offerings the Board of Directors
Employee and/or Management Stock Option Disclosure of Affiliation Relationships between
133
Program (ESOP/MSOP) 189 the Board of Directors, Board of Commissioners,
and Major and/or Controlling Shareholders
Information on Material Transactions that
134 Involve Conflicts of Interest and/or Transactions Disclosure of Concurrent Positions of the Board
190
with Affiliated Parties of Commissioners and Board Directors
Financial Information Containing Extraordinary Disclosure of Share Ownership of the Board of
138 192
and Rare Events Commissioners and the Board of Directors
138 Spot and Derivative Transactions Supporting Organs of the Board of
193
Commissioners
Changes in Laws and Regulations Affecting the
138
Company in the Last Fiscal Year 210 Board of Directors Supporting Organs
Changes in Accounting Policies Applied by the 237 Risk Management System
139
Company in the Last Fiscal Year
243 External Auditor/Public Accountant
139 Business Continuity Information
245 Internal Control System
140 Corporate Soundness Level
247 Important Case
Good Corporate
05 252 Information Technology Governance
Governance
256 Code of Conducts
Implementation Commitment of Good
144 258 Gratification Control
Corporate Governance
144 Basis and Commitment to GCG Implementation 258 Anti Corruption Policy
Corporate Governance Structure and 260 Violation Reporting (Whistleblowing System)
147
Mechanism
262 Information on Funding for Political Activities
Good Corporate Governance Socialization and
150 262 Goods and Services Procurement Policy
Internalization
Compliance with Financing Company
Development of Good Corporate Governance
150 Governance Guidelines: Compliance with
Implementation and Appreciation In 2023
Financial Services Authority (FSA)
Assessment: Evaluation, Monitoring, and 268 Regulation No. 29/ POJK.05/2020 Concerning
150 Improving the Implementation of Good Amendments to FSA Regulation No. 30/
Corporate Governance POJK.05/2014 on Good Corporate
Governance for Financing Companies
Assessment by External Party - Corporate
153
Governance Perception Index (CGPI) Corporate Social and
06
155 Structure of Good Corporate Governance Organs Environmental Responsibility
164 Board of Commissioners Corporate Social and Environmental
286
Responsibility
171 Board of Directors
Financial
Transparency of Information on the Board of 07
175 Statements
Commissioners and Board of Directors
POJK No. 29/POJK.04/2016 and SEOJK
Performance Assessment of the Board of 290
176 No. 16/SEOJK.04/2021 Reference
Commissioners and Board of Directors
Nomination of the Board of Commissioners and
178
Board of Directors
Remuneration of the Board of Commissioners
180
and Board of Directors
2023 Annual Report | PT Mandiri Tunas Finance 9
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01 2023 Performance
Page 11
Page 12
2023
Performance
Summary of Important Financial Data
Profit (Loss) and Other Comprehensive Income
In Rp million, unless otherwise stated
Information 2023 2022 2021 2020 2019
Revenue
Consumer Financing 3,000,350 2,437,004 2,081,742 1,638,507 2,209,648
Finance Lease 652,751 565,529 461,973 339,446 427,484
Factoring 909 9,715 16,637 20,471 8,567
Deposit in Bank 17,134 15,163 11,597 23,054 15,000
Others - Net 1,081,756 904,097 774,709 618,615 930,470
Total Revenue 4,752,900 3,931,508 3,346,658 2,640,093 3,591,169
Expenses
Financial Charges (1,510,165) (1,249,572) (1,220,816) (1,290,857) (1,452,429)
Salaries and Benefits (802,194) (823,406) (567,134) (490,707) (537,854)
General and Administration (349,836) (327,436) (357,084) (369,882) (400,713)
Provision for Impairment Losses
Consumer Financing (697,613) (487,604) (750,111) (779,850) (561,340)
Finance Lease (7,050) (49,556) (71,189) (45,610) (22,871)
Factoring 9,057 (11,063) (430) (278) (1,058)
Other Receivables 96,127 (18,877) (70,543) (33,119) (17,745)
Total Expenses (3,261,674) (2,967,514) (3,037,307) (3,010,303) (2,994,010)
Income before Final Tax and Income Tax
1,491,226 963,994 309,351 (370,210) 597,159
Expense
Income Tax
Final Tax Expense (3,427) (3,033) (2,319) (4,611) (3,000)
Income before Income Tax Expense 1,487,799 960,961 307,032 (374,821) 594,159
Income Tax Expense (326,698) (210,748) (61,152) (74,832) (148,793)
Income for the Year 1,161,101 750,213 245,880 (299,989) 445,366
Attributable to Equity Holders of the Parent Entity 1,161,101 750,213 245,880 (299,989) 445,366
Attributable to Non-controlling Interest - - - - -
Other Comprehensive Income – Net of Tax 798 (3,067) 37,435 20,094 (37,938)
Total Comprehensive Income for the Year 1,161,899 747,146 283,315 (279,895) 407,428
Attributable to Equity Holders of the Parent Entity 1,161,899 747,146 283,315 (279,895) 407,428
Attributable to Non-controlling Interest - - - - -
Basic Earnings per Share (Full Rp Amount) 464 300 98 (120) 178
12 2023 Annual Report | PT Mandiri Tunas Finance
Page 13
01
Revenue (Rp million) Income for the Year (Rp million)
4,752,900
3,931,508
1,161,101
3,591,169
3,346,658
2,640,093
750,213
445,366
245,880
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
(299,989)
Total Comprehensive Income (Rp Juta) Basic Earnings per Share (Full Rp)
for the Year
1,161,899
464
747,146
300
407,428 178
283,315
98
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
(279,895) (120)
2023 Annual Report | PT Mandiri Tunas Finance 13
Page 14
2023
Performance
Balance Sheet
In Rp million, unless otherwise stated
Description 2023 2022 2021 2020 2019
ASSETS
Cash and Cash Equivalents
Cash on Hand 18,194 13,602 7,748 11,182 6,869
Cash in Banks
Third Parties 1,495 15,553 28,989 167,672 123,260
Related Parties 832,451 811,281 203,645 170,949 291,406
852,140 840,436 240,382 349,803 421,535
Consumer Financing Receivables
Third Parties 22,698,175 16,666,569 13,209,267 14,106,400 13,849,802
Related Parties 11,542 7,846 7,287 6,831 6,663
22,709,717 16,674,415 13,216,554 14,113,231 13,856,465
Less: Allowance for Impairment Losses (347,894) (333,578) (327,003) (301,708) (307,380)
22,361,823 16,340,837 12,889,551 13,811,523 13,549,085
Finance Lease Receivables
Third Parties 5,416,865 5,782,025 4,784,845 3,580,405 3,055,071
Less: Allowance for Impairment Losses (69,293) (138,679) (129,789) (92,737) (7,982)
5,347,572 5,643,346 4,655,056 3,487,668 3,047,089
Factoring Receivables
Third Parties 35,758 42,469 153,232 165,847 116,650
Less: Allowance for Impairment Losses (436) (9,493) (930) (500) (1,171)
35,322 32,976 152,302 165,347 115,479
Other Receivables
Third Parties 119,669 89,923 75,047 93,773 82,396
Related Parties 547,483 499,942 463,294 335,454 723,381
667,152 589,865 538,341 429,227 805,777
Less: Allowance for Impairment Losses (44,298) (140,425) (121,548) (51,005) (17,886)
622,854 449,440 416,793 378,222 787,891
Deferred Tax Assets 100,789 116,452 77,750 136,099 73,072
Derivative Receivables 28,933 24,534 273 1,072 20,095
Fixed Assets 283,625 219,763 197,081 191,273 181,885
Other Assets
Third Parties 93,432 60,931 81,856 103,710 103,025
Related Parties 902 251 100 - 1,772
TOTAL ASSETS 29,727,392 23,728,966 18,711,144 18,624,717 18,300,928
14 2023 Annual Report | PT Mandiri Tunas Finance
Page 15
01
In Rp million, unless otherwise stated
Description 2023 2022 2021 2020 2019
LIABILITIES
Trade Payables 1,017,137 702,291 601,051 499,376 516,540
Other Payables
Third Parties 190,916 199,930 183,547 221,763 158,702
Related Parties 56,805 100,736 125,026 98,648 64,110
Current Tax Liabilities 112,000 125,498 7,506 - 23,336
Accrued Expenses
Third Parties 257,626 308,087 189,374 179,965 247,713
Related Parties 4,472 3,535 3,333 3,186 2,183
Bank Loans
Third Parties 15,242,400 12,748,612 7,794,675 9,267,985 8,760,648
Related Parties 2,891,252 1,944,839 1,795,735 1,207,074 1,064,082
18,133,652 14,693,451 9,590,410 10,475,059 9,824,730
Unamortized Provision Cost (36,937) (31,564) (25,056) (31,584) (23,404)
18,096,715 14,661,887 9,565,354 10,443,475 9,801,326
Securities Issued
Third Parties 5,002,750 3,876,405 4,877,850 3,992,000 3,592,300
Related Parties 693,000 468,500 621,000 886,000 1,137,700
5,695,750 4,344,905 5,498,850 4,878,000 4,730,000
Unamortized Issuance Cost (8,235) (5,668) (6,164) (7,445) (9,846)
5,687,515 4,339,237 5,492,686 4,870,555 4,720,154
Derivative Payables - - - 64,738 169,989
Employee Benefits Obligation 274,546 194,940 148,413 131,472 108,864
TOTAL LIABILITIES 25,697,732 20,636,141 16,316,290 16,513,178 15,812,917
EQUITY
Share Capital
Paid Up Capital 250,000 250,000 250,000 250,000 250,000
Other Comprehensive Income:
Remeasurement of Employee Benefits
(38,390) (30,198) (32,593) (37,623) (31,936)
Obligation – Net
Cumulative Profit / (Loss) on Derivative
2,802 (6,188) (726) (33,131) (58,912)
Instrument for Cash Flow Hedges - Net
Retained Earnings
Appropriated 50,000 50,000 50,000 50,000 50,000
Unappropriated 3,765,248 2,829,211 2,128,173 1,882,293 2,278,859
TOTAL EQUITY 4,029,660 3,092,825 2,394,854 2,111,539 2,488,011
TOTAL LIABILITIES AND EQUITY 29,727,392 23,728,966 18,711,144 18,624,717 18,300,928
2023 Annual Report | PT Mandiri Tunas Finance 15
Page 16
2023
Performance
Total Assets (Rp million) Total Liabilities (Rp million)
29,727,392
25,697,732
23,728,966
20,636,141
18,300,928 18,624,717 18,711,144
16,513,178 16,316,290
15,812,917
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
Total Equity (Rp million) Cash and Cash Equivalents at (Rp million)
End of Year
4,029,660
840,436 852,140
3,092,825
2,488,011 2,394,854
2,111,539
421,535
349,803
240,382
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
16 2023 Annual Report | PT Mandiri Tunas Finance
Page 17
01
Cash Flow
In Rp million, unless otherwise stated
Description 2023 2022 2021 2020 2019
Cash Flows from Operating Activities (4,420,498) (3,190,177) 225,754 (810,228) (191,284)
Cash Flows from Investing Activities (118,954) (65,272) (28,439) (49,726) (39,968)
Cash Flows from Financing Activities 4,551,156 3,855,503 (306,736) 788,222 397,847
Net Increase (Decrease) in Cash and Cash
11,704 600,054 (109,421) (71,732) 166,595
Equivalents
Cash and Cash Equivalents at Beginning of Year 840,436 240,382 349,803 421,535 254,940
Cash and Cash Equivalents at End of Year 852,140 840,436 240,382 349,803 421,535
Financial Ratios
In percent, unless otherwise stated
Description Unit 2023 2022 2021 2020 2019
Profitability
Return on Assets % 4.34 3.54 1.33 (1.66) 2.49
Return on Assets* % 5.00 4.05 1.65 (1.99) 3.26
Average Return on Assets* % 5.58 4.54 1.67 (2.05) 3.34
Return on Equity % 28.81 24.26 10.27 (14.21) 17.90
Average Return on Equity % 32.60 27.34 10.67 (12.45) 19.48
Total Income/Total Assets % 15.99 16.57 17.89 14.18 19.62
Income Before Income Tax/
% 31.38 24.52 9.24 (14.02) 16.63
Revenue
Net Profit After Tax for the Year/
% 24.43 19.08 7.35 (11.36) 12.40
Revenue
Cost Efficiency Ratio % 34.34 43.08 48.99 72.26 47.68
Current Ratio (times) 1.10 1.32 1.04 1.03 1.12
Productive Assets
Net Managed Financing
(Rp-million) 53,061,308 45,122,742 39,733,077 41,622,865 46,842,459
Receivables
Financing Receivables-joint
(Rp-million) 24,898,967 22,623,833 21,578,445 23,763,382 29,814,273
Financing
Non-performing Receivables
% 0.70 0.72 0.97 0.78 0.75
under Management
Liquidity
Total Liabilities/Total Assets (times) 0.86 0.87 0.87 0.89 0.86
Total Liabilities/Total Equity (times) 6.38 6.67 6.81 7.82 6.36
Interest Debt/Total Equity** (times) 5.90 6.14 6.29 7.25 5.84
Note:
*) Using the calculation of income before tax
**) Gearing Ratio
2023 Annual Report | PT Mandiri Tunas Finance 17
Page 18
2023
Performance
Operations Overview
Description 2023 2022 2021 2020 2019
New Contract Unit by Type of Financing (Unit)
New Car 88,002 82,515 70,628 59,705 101,939
Used Car 28,253 21,714 15,310 9,459 12,761
Motorcycle 378 322 390 550 406
Others 5,238 34,539 7,796 63 50,943
Total 121,871 139,090 94,124 69,777 166,049
Financing Contract Value by Type of Financing (Rp-million)
New Car 27,253,703 23,817,707 17,616,230 15,096,279 26,310,927
Used Car 5,371,351 3,700,357 2,882,289 1,585,676 2,219,196
Motorcycle 47,561 33,470 34,330 33,920 52,373
Others 25,288 217,730 87,715 23,681 197,146
Total 32,697,903 27,769,264 20,620,564 16,739,556 28,779,642
Organization Overview
Total Customers 338,579 256,192 259,463 277,981 302,229
Total Branches 124 99 100 101 102
Total Human Resources 3,328 3,306 3,236 3,395 3,581
Share Overview
Until the end of 2023, MTF did not issue its shares to Share Dividend
be held by the public or by management or employees. Based on the Decision of the Shareholders outside the
Therefore, there is no information related to stock trading General Meeting of Shareholders to hold the Annual
that includes: General Meeting of Shareholders of PT Mandiri Tunas
1. Market capitalization based on prices on the Stock Finance Fiscal Year 2022 (“Circular Resolution”), which
Exchange where the shares are listed; was ratified and signed by the Company’s Shareholders
2. Highest, lowest, and closing stock prices based on on June 27, 2023, the Shareholders made the following
prices on the Stock Exchange where the shares are decision:
listed; 1. Approved and determined the use of the Company’s
3. Volume of stock trading on the Stock Exchange where Net Profit for Fiscal Year 2021 in the amount of
the shares are listed; Rp750,213,273,330 (seven hundred fifty billion two
4. Information in the form of a graph that includes at hundred thirteen million two hundred seventy-three
least the closing price based on prices on the Stock thousand three hundred thirty rupiah). The details are
Exchange where the shares are listed and the volume as follows:
of stock trading on the Stock Exchange where the a. A total of 30% (thirty percent) of the Company’s
shares are listed for each quarter in the last 2 (two) net profit is designated as dividends or an amount
fiscal years; and of Rp225,063,981,999 (two hundred twenty-five
5. Information on temporary suspension of stock trading billion sixty-three million nine hundred eighty-one
in the last 2 (two) years. thousand nine hundred and ninety-nine rupiah);
b. A total of 70% (seventy percent) of the Company’s
The total number of shares of the Company is net profit is determined as retained earnings
2,500,000,000 shares, with PT Bank Mandiri (Persero) amounting to Rp525,149,291,331 (five hundred
Tbk owning 1,275,000,000 shares or 51.00%, and PT Tunas twenty-five billion one hundred forty-nine million
Ridean Tbk owning 1,225,000,000 shares or 49.00%. two hundred ninety-one thousand three hundred
thirty-one rupiah).
Information About Corporate Actions
Throughout the year 2023, MTF did not undertake any
corporate actions such as stock splits, reverse stock
splits, bonus issues, or reduction of share nominal value.
18 2023 Annual Report | PT Mandiri Tunas Finance
Page 19
01
2. Granted authority and power to the Company’s Board of Directors to regulate the above-mentioned procedures for
the implementation of dividend payments and the allocation of the Company’s net profit in accordance with the
applicable laws and regulations.
Dividend Payment in 2023 (for the Dividend Payment in 2022 (for the
Subject
2022 Fiscal Year of Share Dividends) 2021 Fiscal Year of Share Dividends)
Amount of Dividend Distributed (Rp) 225,063,981,999 49,175,974,827
Cash Dividend per Share (Rp) 90.03 19.67
Dividend Distribution Ratio (%) 30% 20%
Announcement Date June 28, 2023 June 17, 2022
Payment Date July 6, 2023 June 24 and July 12, 2022
Bonds, Sukuk, or Convertible Bonds Overview
Bond
In 2023, the Company issued the Continuous Public Offering of Series VI Mandiri Tunas Finance Bonds Phase I Year 2023
and the Continuous Public Offering of Series VI Mandiri Tunas Finance Bonds Phase II Year 2023. Below is a table of bonds
that are still outstanding and unpaid as of December 31, 2023. All bonds issued by the Company are done through the
Indonesia Stock Exchange (IDX). Apart from the bonds listed below, the Company did not issue any other securities.
Interest
Interest Date of
Year Name of Bonds Rating Total (Rp) Payments Due Date Status
Rate Issuance
Frequency
MTF Continuing Every 3
9,75% January 8, January 8, Active/Not
Bonds IV Phase I idAA+ 200,000,000,000 (three)
p.a 2019 2019 Yet Paid Off
Series B months
2019
MTF Continuing Every 3
9,50% Active/Not
Bonds IV Phase II idAA+ 658,000,000,000 (three) July 26, 2019 July 26, 2024
p.a Yet Paid Off
Series B months
MTF Continuing Every 3
8,60% August 13, August 13, Active/Not
2020 Bonds V Phase I idAA+ 386,000,000,000 (three)
p.a 2020 2025 Yet Paid Off
Series A months
MTF Continuing Every 3
7,00% May 20, Active/Not
Bonds V Phase II idAA+ 915,150,000,000 (three) May 20, 2021
p.a 2024 Yet Paid Off
Series A months
2021
MTF Continuing Every 3
7,65% May 20, Active/Not
Bonds V Phase II idAA+ 485,700,000,000 (three) 20 Mei 2021
p.a 2026 Yet Paid Off
Series B months
MTF Continuing Every 3
5,90% February 23, February 23, Active/Not
Bonds V Phase III idAA+ 851,440,000,000 (three)
p.a 2022 2025 Yet Paid Off
Series A months
2022
MTF Continuing Every 3
6,75% February 23, February 23, Active/Not
Bonds V Phase III idAA+ 376,615,000,000 (three)
p.a 2022 2027 Yet Paid Off
Series B months
MTF Continuing Every 3
6,00% Aktif/Belum
Bonds VI Phase I idAAA 439,660,000,000 (three) July 11, 2023 July 11, 2026
p.a Lunas
Series A months
MTF Continuing Every 3
6,25% Aktif/Belum
Bonds VI Phase I idAAA 252,075,000,000 (three) July 11, 2023 July 11, 2028
p.a Lunas
Series B months
2023
MTF Continuing Every 3
6,50% September September Aktif/Belum
Bonds VI Phase II idAAA 804,175,000,000 (three)
p.a 27, 2023 27, 2026 Lunas
Series A months
MTF Continuing Every 3
6,75% September September Aktif/Belum
Bonds VI Phase II idAAA 326,935,000,000 (three)
p.a 27, 2023 27, 2028 Lunas
Series B months
Note: The rating results are the ratings assigned to bonds at the initial bond registration carried out by PEFINDO.
2023 Annual Report | PT Mandiri Tunas Finance 19
Page 20
Performa
2023
Awards and Certifications
Awards
Mandiri Subisidiaries The Best CEO 2022 Marketeers Youth Choice
Award 2022 Pinohadi G. Sumardi as Best CEO Award 2023
The Most Profitable Subsidiaries with Distinction Category Company Leasing Company Chosing
of The Year 2022 with > 1000 Employees by Gen Z
TOP CSR Awards 2023 TOP CSR Awards 2023 Marketeers Omni Brands
PT Mandiri Tunas Finance as a Pinohadi G. Sumardi as a of The Year 2023
Top CSR Awards 2023 #Star 4 Top Leader on CSR Commitment Brand Of The Year 2023
2023 Online - Offline Activation
BUMN Entrepreneurial BUMN Entrepreneurial Infobank 12th Digital Brand
Marketing Awards 2023 Marketing Awards 2023 Awards 2023
Bronze Winner Bronze Winner The 3rd Best Multifinance
The Most Promising Company in The Most Promising Company in Company
Tactical Marketing Branding Campaign
(Subholding and Subsidiary (Subholding and Subsidiary
Category) Category)
20 2023 Annual Report | PT Mandiri Tunas Finance
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01
The 8th Annual SPEx2 DX Sustainable Marketing Indonesia Best BUMN
Awards 2023 Excellence 2023 Awards 2023
The Best Company in Automotive Financing of Best SOE 2023 with Top Financial
Performance Growth in Financing The Year 2023 Performance and Financing
Industry Business Diversification Category
Subsidiary
Top Digital Awards 2023 Top Digital Awards 2023 Infobank Top 100 CEO
PT Mandiri Tunas Finance Pinohadi G. Sumardi as a Top & The Next 200 Leaders
as a Top Digital Leader on Digital Implementation
Implementation 2023 #Star 5 2023
Forum 2023
Pinohadi G. Sumardi as a Top
100 CEO 2023
Infobank Top 100 CEO Indonesia Good Corporate Indonesia Customer Service
& The Next 200 Leaders Governance Award 2023 Champions 2023
Forum 2023 Trusted Company Based on Excellent in Indonesia Customer
William Francis Indra as Corporate Governance Perception Service Champions 2023
The Next 200 Leaders 2023 Index (CGPI)
Certifications
Indonesia Information ISO 27001
Technology Award 2023 Information Security Management
The Best IT for Multifinance System, PT TUV Nord Indonesia
Company 2023 - Platinum Award (A) May 22, 2023-October 25, 2025
Very Excellent
2023 Annual Report | PT Mandiri Tunas Finance 21
Page 22
2023
Performance
Events Highlights
January 20, 2023
Executive Lounge, Graha Mandiri, Jakarta
Executive Interview with Mr. Pinohadi G. Sumardi by SWA Media
An exclusive interview conducted by SWA Media with Mandiri Tunas
Finance, discussing the performance achievements of MTF in 2022 and
insights into effective work strategies according to the President Director
of Mandiri Tunas Finance, Mr. Pinohadi G. Sumardi. The interview took
place at the Executive Lounge, Graha Mandiri, Jakarta, on January 20,
2023.
February 6, 2023
3A Floor Hall, Graha Mandiri, Jakarta
14th Anniversary Celebration of MTF and Inauguration of New
MTF Workspace
Mandiri Tunas Finance celebrates its 14th Anniversary with a traditional
rice cone cutting ceremony and communal prayer at the 3A Floor Hall,
Graha Mandiri, Jakarta on February 6, 2023. As part of the 14th Anniversary
Celebration, there is also the inauguration of the new MTF workspace,
which takes place at the MTF Head Office.
February 14, 2023
Customer Experience Lounge MTF, Jakarta
Press Conference Unveiling MTF Digital Service
Mandiri Tunas Finance introduces an innovative breakthrough with the
launch of MTF Digital Service. This service is accessible to customers
through Digital Service Points and a mobile application. The digital
service includes a document vending machine that customers can utilize
to retrieve vehicle registration documents, enhancing MTF's commitment
to providing fast and easy services. The Press Conference Launching MTF
Digital Service takes place at the Customer Experience Lounge MTF,
Jakarta, on February 14, 2023.
February 20, 2023
Djakarta Theater Thamrin, Jakarta
MTF 2023 National Work Meeting and 14th Anniversary
Celebration
The MTF 2023 National Work Meeting (Rakernas) was attended by the
Board of Commissioners, Board of Directors, Division Heads, Regional
Heads, Deputy Regional Heads, Deputy Division Heads, Department
Heads, and Branch Managers of MTF from all over Indonesia. It was held
at Djakarta Theater Thamrin, Jakarta, on February 20, 2023. The Rakernas
concluded with the 14th Anniversary Celebration of MTF, attended by all
employees from the Head Office.
February 22, 2023
Auditorium Plaza Mandiri, 3rd Floor, Plaza Mandiri, Jakarta
Receipt of Mandiri Subsidiaries Award 2022
Mandiri Tunas Finance has been honored at the Mandiri Subsidiaries
Award 2022, organized by PT Bank Mandiri (Persero) Tbk, as The Most
Profitable Subsidiary of the Year 2022. The award was directly received
by Pinohadi G. Sumardi, the President Director of Mandiri Tunas Finance,
at Plaza Mandiri, Jakarta, on February 22, 2023.
22 2023 Annual Report | PT Mandiri Tunas Finance
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February 23, 2023
Endah Andansih Mosque, Purwakarta
CSR Contribution of Mosque Carpet Donation at Endah Andansih
Mosque in Purwakarta
As part of its Corporate Social Responsibility (CSR) initiatives, Mandiri
Tunas Finance undertook a religious philanthropic activity by donating
prayer equipment in the form of long mosque carpets to Endah Andansih
Mosque, Purwakarta, on February 23, 2023.
March 4, 2023
Manson Pine, Kota Baru Parahyangan, Bandung
5th Indonesia International Merceday-Benz
Mandiri Tunas Finance proudly serves as the main sponsor for the
exclusive event catering to Mercedes-Benz enthusiasts, the 5th
Indonesia International Merceday-Benz, held at Manson Pine, Kota Baru
Parahyangan, Bandung on March 4, 2023. During the event, Mandiri Tunas
Finance also launched a Special 5th Indonesia International Merceday-
Benz Event Promo, exclusively available to regular individual customers
of MTF Premium.
March 11, 2023
Jakarta International Expo Kemayoran, Jakarta
Received of Marketeers Youth Choice Award 2023
Through various marketing campaigns and digital sales channels, as well
as the execution of MTF VirtuFest, Mandiri Tunas Finance successfully
increased the number of new customers from the younger generation, as
evidenced by winning the Marketeers Youth Choice Award 2023 organized
by Marketeers Media as the Gen Z Preferred Leasing Company.
March 29 & April 3, 2023
Imam Bonjol Street, In Front of Graha Mandiri Building, Jakarta
MTF Sharing Takjil for Ramadan 2023
As part of Mandiri Tunas Finance's Corporate Social Responsibility (CSR)
efforts during the month of Ramadan 1444 H, themed "Let's spread
kindness in this blessed month," we conducted the distribution of takjil
(light snacks for breaking the fast) for motorists and pedestrians along
Imam Bonjol Street in front of the Graha Mandiri Building, Jakarta, for 2
days on March 29 and April 3, 2023.
April 6, 2023
3A Floor Hall, Graha Mandiri, Jakarta
Executive Interview with Mr. William Francis Indra by Marketeers
An exclusive interview conducted by Marketeers Media with Mandiri
Tunas Finance discussing MTF's business strategy both before and after
the COVID-19 pandemic, leading to the achievement of the highest profit
record in the company's history. The interview was conducted with Mr.
William Francis Indra, Director of Mandiri Tunas Finance, at the 3A Floor
Hall, Graha Mandiri, Jakarta, on April 6, 2023.
2023 Annual Report | PT Mandiri Tunas Finance 23
Page 24
2023
Performance
April 6, 2023
3A Floor Hall, Graha Mandiri, Jakarta
Ramadan Study, Iftar Gathering, and Orphanage Aid MTF 2023
During the month of Ramadan 1444 H, Mandiri Tunas Finance adorned
its activities with the organization of Ramadan Study, Iftar Gathering,
and Orphanage Aid MTF 2023. The agenda included a Ramadan Talkshow
themed "Emulating the Morals of the Prophet Muhammad (SAW)" with
Sheikh Ahmad Al Misry conducted via Zoom Meeting. The study session
concluded with an Iftar Gathering for MTF, held in a hybrid format
featuring the distribution of Iftar Hampers and Ramadan Kits to all MTF
employees at the Head Office and Fleet locations.
April 6, 2023
CGV FX Sudirman, Jakarta
Received of Marketeers Omni Brands of The Year 2023 Award
Mandiri Tunas Finance once again received recognition at the Marketeers
Omni Brands Of The Year 2023 event organized by Marketeers Media, this
time as the Brand Of The Year 2023.
April 12, 2023
Shangri-La, Jakarta
Received of Infobank 12th Digital Brand Awards 2023
Mandiri Tunas Finance once again received recognition at the Infobank
12th Digital Brand Awards 2023 organized by Infobank, this time as the
3rd Best Multifinance Company in the Financing Company Category with
Assets >10 Trillion.
May 17, 2023
Jakarta International Expo Kemayoran, Jakarta
PEVS 2023 Press Conference
In support of the Government's initiative to develop the electric vehicle
industry in Indonesia, Mandiri Tunas Finance participated offline at
the Periklindo Electric Vehicle Show (PEVS) 2023 automotive exhibition
at the Jakarta International Expo Kemayoran, Jakarta on May 17, 2023.
During this exhibition, MTF served as the Official Leasing Partner, offering
various special deals for the purchase of new electric vehicles, as well as
other attractive offers for multifunction or CashAja transactions.
June 6, 2023
Assembly Hall, 10th Floor, Menara Mandiri 2, Jakarta
Investor Gathering 2023 by PT Mandiri Tunas Finance
Mandiri Tunas Finance organizes the Investor Gathering 2023 as an
opportunity to present the Company's performance and establish
relationships with investors for potential positive collaborations in the
future.
24 2023 Annual Report | PT Mandiri Tunas Finance
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01
June 7, 2023
Raffles Hotel, Jakarta
Received of Top CSR Awards 2023
Mandiri Tunas Finance proudly received two awards at the Top CSR
Awards 2023 event organized by Top Business. The awards include Top
CSR Awards 2023 #STAR 4 and Mr. Pinohadi G. Sumardi, President Director
of Mandiri Tunas Finance, receiving the Top Leader on CSR Commitment
2023 award.
June 14, 2023
Grand Atrium Kota Kasablanka, Jakarta
Received of BUMN Entrepreneurial Marketing Awards 2023
Mandiri Tunas Finance proudly received two awards at the BUMN
Entrepreneurial Marketing Awards 2023 event organized by Marketeers.
The awards include Bronze Winner for The Most Promising Company
in Tactical Marketing and Branding Campaign in the Subholding &
Subsidiary Category.
June 18, 2023
Candi Prambanan, Sleman, Yogyakarta
Mandiri Jogja Marathon 2023
Mandiri Tunas Finance, as one of the subsidiaries of Bank Mandiri,
supports the Mandiri Jogja Marathon 2023 event as part of the excellent
collaboration within the Mandiri Group. Participants of the marathon and
the general public can also visit the Mandiri Tunas Finance booth to have
the chance to win various exciting prizes by participating in the provided
games. A fun spinwheel and local superhero icons, such as Gatotkaca,
beloved by the Javanese community, are also present courtesy of MTF
specifically for the Mandiri Jogja Marathon 2023.
June 29, 2023
Griya Mandiri Cilandak, Jakarta
MTF Qurban for Eid al-Adha
In celebration of Eid al-Adha 1444 H, Mandiri Tunas Finance participated
in the Meraih Taqwa dengan Berbagi Kurban (Attaining Piety by Sharing
Qurban) Program for the year 2023. MTF sacrificed a 900 kg cow to
distribute its meat to deserving individuals in the Greater Jakarta area
(Jabodetabek).
July 6, 2023
JS Luwansa Hotel, Jakarta
Receipt of The 8th Annual SPEx2 DX Awards 2023
Mandiri Tunas Finance was honored at The 8th Annual SPEx2 DX
Awards 2023, organized by Kontan Magazine, as The Best Company in
Performance Growth in the Financing Industry. The award was directly
received by B. Perana Citra Ketaren, Chief AR Management & Digital at
Mandiri Tunas Finance.
2023 Annual Report | PT Mandiri Tunas Finance 25
Page 26
2023
Performance
July 12, 2023
CGV FX Sudirman, Jakarta
Received of Sustainable Marketing Excellence Award 2023
Thanks to the success of being the Official Leasing Partner of the
Periklindo Electric Vehicle Show (PEVS) 2023 and making a positive
impact on economy enhancement, people empowerment, and planet
reservation, Mandiri Tunas Finance has been honored at the Marketeers
Sustainable Marketing Excellence (SME) Award 2023, organized by
Marketeers Media, as the Green Automotive Financing of the Year. The
award was directly received by Afri Feder Fauzi, Chief Marketing Officer at
Mandiri Tunas Finance.
July 12, 2023
Menara Mandiri, Jakarta
Received of Award at Mandiri ESG Festival
Mandiri Tunas Finance was honored at the Mandiri ESG Festival event
organized by PT Bank Mandiri (Persero) Tbk. The award was directly
received by Pinohadi G. Sumardi, President Director of Mandiri Tunas
Finance.
August 10-11, 2023
Best Western Premier Panbil and Palm Springs Golf & Country Club,
Batam
Mandiri Group Q2 2023 Board Forum
Mandiri Tunas Finance proudly hosted the Mandiri Group Q2 2023 Board
Forum, held on August 10-11, 2023 at Best Western Premier Panbil, Batam.
The theme of the Q2 2023 Board Forum was "Empowering Indonesia’s
Ascent: Mandiri Group’s Role in the Emergence of a Global Economic
Leader." This event, attended by all subsidiaries of Bank Mandiri,
concluded with the Mandiri Group Fun Golf Tournament.
August 11, 2023
Panbil Nature Reserve, Batam
Environmental Care through MTF Tree Planting
As a continuation of the Environmental Care Program during the Mandiri
Group's Q2 2023 Board Forum activities in August 2023, Mandiri Tunas
Finance reaffirmed its commitment to the Environmental, Social, and
Governance (ESG) program by planting a total of 1,200 tree seedlings.
August 25, 2023
Menara Mandiri, Jakarta
Porseni Bank Mandiri 2023
Mandiri Tunas Finance participated in the Bank Mandiri Sports Event
2023. The opening ceremony of the sports event commenced with a
Parade Defille featuring all athletes and contingents at Menara Mandiri
on August 25, 2023. One of the awards received by Mandiri Tunas Finance
during the Bank Mandiri Sports Event 2023 was the 1st Place in the Men's
Basketball Competition.
26 2023 Annual Report | PT Mandiri Tunas Finance
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01
September 4, 2023
Graha Mandiri, Jakarta, and all MTF branches
National Customer Day (Harpelnas) 2023
Mandiri Tunas Finance once again celebrated National Customer Day
(Harpelnas) 2023 on September 4, 2023. MTF provided special services
to all MTF customers under the theme "Customer Smile, Our Smile Too,"
aiming to ensure that all customers smile through the satisfaction of MTF
services. To support the acceleration of electric vehicle usage in line with
the government's ESG implementation strategy, MTF also provided display
units and electric vehicle test drives at Graha Mandiri, along with special
promotions and offers for both conventional and electric vehicles as part of
the Harpelnas 2023 celebration.
September 27, 2023
Le-Meridien Hotel, Jakarta
Receipt of Indonesia Best BUMN Awards 2023
Mandiri Tunas Finance was honored at the Indonesia Best BUMN Awards
2023 organized by Warta Ekonomi as the Best State-Owned Enterprise
(SOE) 2023 with Top Financial Performance and Financing Business
Diversification in the Subsidiary Category.
October 7-8, 2023
East Senayan Parking Lot, Jakarta
Mandiri Karnaval 2023
In celebration of Bank Mandiri's 25th Anniversary, Mandiri Tunas Finance
participated in the Mandiri Carnival 2023 with an open booth for a
vehicle show and special promotions commemorating Bank Mandiri's
Anniversary. The vehicle show took place over 2 days on October 7-8,
2023.
October 7-8, 2023
East Senayan Parking Lot, Jakarta
ESG Tree Planting with Mandiri Group
In support of the Government's program to reduce air pollution in
Indonesia, especially in the DKI Jakarta Province, Mandiri Tunas Finance
is committed to the Corporate Social and Environmental Responsibility
(CSR) program by providing 2,500 tree seedlings to the surrounding
community together with the Mandiri Group. The distribution of tree
seedlings took place over 2 days on October 7-8, 2023.
2023 Annual Report | PT Mandiri Tunas Finance 27
Page 28
2023
Performance
October 13, 2023
Palembang Indah Mall, Palembang
APPI Multifinance Day 2023 Literacy and Education Event
Mandiri Tunas Finance participated in the Multifinance Day 2023 as
a demonstration of the Company's active role in promoting financial
literacy and education in financing. This aligns with the fulfillment
of obligations for educational activities and financial inclusion as
stipulated in POJK No. 3 of 2023 concerning the Enhancement of Literacy
& Financial Inclusion in the Financial Services Sector for Consumers and
the Community.
October 18, 2023
Marina Convention Center, Semarang
GIIAS Semarang 2023 Press Conference
Mandiri Tunas Finance once again participated as the Official Leasing
Partner at the Gaikindo Indonesia International Auto Show (GIIAS) 2023
automotive exhibition. Held at the Marina Convention Center, Semarang,
Central Java from October 18 to 22, 2023, this exhibition marked the
conclusion of the GIIAS 2023 series and the second time it was held in
the city of Semarang. MTF, in support of the exhibition, provided various
special offers, programs, and attractive promotions for the purchase of
new cars and multifunctional financing or CashAja.
November 23, 2023
Ampitheater Customer Experience Lounge, Graha Mandiri, Jakarta
MTF Blood Donation 2023
To assist others and reduce the risk of diseases, Mandiri Tunas Finance
organized a CSR Blood Donation event held at the MTF Head Office, Graha
Mandiri, Jakarta. Donors were welcome from both the general public and
MTF employees.
December 4, 2023
Raffles Hotel, Jakarta
Received of Top Digital Awards 2023
Mandiri Tunas Finance once again received two awards at the Top Digital
Awards 2023 event organized by IT Works. The awards include Top Digital
Implementations 2023 #STARS 5 and Mr. Pinohadi G. Sumardi, President
Director of Mandiri Tunas Finance, receiving the Top Leader on Digital
Implementation 2023 award. The awards were directly received by Mr.
Pinohadi G. Sumardi, President Director of Mandiri Tunas Finance, and
Mr. B. Perana Citra Ketaren, Chief AR Management & Digital, at Raffles
Hotel, Jakarta on December 4, 2023.
28 2023 Annual Report | PT Mandiri Tunas Finance
Page 29
01
December 5, 2023
Four Seasons Hotel, Jakarta
Receipt of Infobank Top 100 CEO & The Next 200 Leaders Forum
2023 Awards
Mandiri Tunas Finance once again received two awards at the Infobank
Top 100 CEO & The Next 200 Leaders Forum 2023 event organized by
Infobank. Mr. Pinohadi G. Sumardi, President Director of Mandiri Tunas
Finance, successfully received the Top 100 CEO 2023 award. Additionally,
Mr. William Francis Indra, Director of Mandiri Tunas Finance, also received
The Next 200 Leaders Forum 2023 award.
December 18, 2023
Paul Bakery, Pondok Indah Mall 3, Jakarta
MTF Autofiesta Jakarta 2023 Press Conference
Mandiri Tunas Finance once again organized the annual automotive
exhibition titled MTF Autofiesta. Located at Pondok Indah Mall (PIM) 3 -
West Atrium, MTF held the Autofiesta Jakarta 2023 event from December
18 to 24, 2023. Collaborating with several partner dealers, MTF showcased
various car models in the exhibition area, allowing customers to choose
vehicles according to their needs. Through MTF Autofiesta, MTF aims
to drive automotive sales growth and contribute to the future of the
Indonesian automotive industry.
December 20, 2023
Executive Lounge, Graha Mandiri - Zoom Meeting
Board Teaching by Mr. William Francis Indra, Director of MTF in
Sebelas Maret University
Mandiri Tunas Finance once again organized the Board Teaching session
in 2023 for students of the Faculty of Economics at Sebelas Maret
University, Solo. The discussion focused on the multifinance industry
and was delivered by Mr. William Francis Indra, Director of Mandiri Tunas
Finance, via Zoom Meeting.
December 20, 2023
Shangri-La Hotel, Jakarta
Received of Indonesia Good Corporate Governance Award 2023
Mandiri Tunas Finance once again received the CGPI 2022 award at the
Indonesia Good Corporate Governance Award 2023 organized by SWA
Media and IICG in the Trusted Company Based on Corporate Governance
Perception Index (CGPI) category. The award was directly received by Mr.
Pinohadi G. Sumardi, President Director of Mandiri Tunas Finance, at
Shangri-La Hotel, Jakarta on December 20, 2023.
2023 Annual Report | PT Mandiri Tunas Finance 29
Page 30
02 Management Report
Page 31
Page 32
Management
Report
Board of Commissioners Report
Rico Adisurja Setiawan
President Commissioner
32 2023 Annual Report | PT Mandiri Tunas Finance
Page 33
02
Dear all Shareholders and Stakeholders,
First of all, allow us to present the Board of Commissioners of PT Mandiri Tunas Finance to commence this report by
expressing our gratitude to the Almighty for the excellent performance and achievements of the Company. This is the
result of the hard work and synergy of all Company personnel in implementing the business strategy designed by the
management. We will continue to commit to improving performance and strengthening the Company’s position, thereby
providing greater benefits to all stakeholders.
In this report, we will provide a brief overview of the performance of the Board of Directors and the implementation of
strategies, our perspectives on business prospects, and our perspective on corporate governance practices throughout
2023.
Board of Commissioner’s Assessment of Board of Commissioners Perspective on
the Board of Directors Performance Targets
In assessing the performance of The Board of Directors, The Company has indeed set targets for 2023, taking
the Board of Commissioners employs several evaluation into account both internal and external conditions.
criteria, including problem-solving abilities, sales The establishment of these targets and strategies
improvement capabilities, and the ability to increase is in line with the guidance and monitoring results
the Company’s profits. The Board of Commissioners conducted by the Board of Commissioners during
assessment of the Board of Directors is reflected joint meetings with the Board of Directors. In 2023,
in the Key Performance Indicators (KPIs) set by the numerous business achievements have surpassed
Shareholders. These KPIs serve as guidelines for the the set targets, including revenue and net income
Board of Commissioners to oversee the Board of Directors for the fiscal year, which amounted to Rp4.75 trillion
in conducting the Company’s business activities. The and Rp1.16 trillion respectively. Business revenue
Directors KPIs are divided into 4 perspectives: increased by 20.89% compared to the previous year,
1. Financial perspective, consisting of Net Income, Pre- while the company’s net income grew by 54.77% by the
Provision Operating Profit, Return on Equity, and end of 2023.
Gearing Ratio;
2. Customer perspective, consisting of Bad Joint Additionally, the total disbursement of new financing
Finance, Market Share - Bad OJK, and Captive Portion amounted to Rp32.69 trillion, representing a growth
Financing; of 17.75% compared to 2022, which was valued at
3. Internal Business Process perspective, consisting of Rp27.76 trillion. In the automotive market sector, the
Finance at Risk, FAR Coverage, Cost of Credit, Cost number of new car units financed by the Company
Efficiency Ratio, IT Requirement Fulfillment, and also increased by 6.65% to 88,002 units compared to
MSPMG Fulfillment; and 82,515 units in 2022. The Company also successfully
4. Development perspective, consisting of Project increased the value of financing for electric vehicles
Sydney Implementation and Automotive B2B & by 198.15%, amounting to Rp591.09 billion. All these
B2B2C Business Ecosystem Study. achievements represent remarkable accomplishments
that will serve as the foundation for realizing MTF’s
The Board of Commissioners particularly appreciates the vision to become a Reliable Financing Partner.
Directors ability to manage the Company in line with the
vision and mission, and under the strategic direction and Monitoring Function of the Board of
work programs planned. The Board of Commissioners Commissioners and Its Work Relations
believe that the Directors performance is satisfactory with the Board of Directors, as well
because they have successfully maintained and improved as the Monitoring of Formulation and
operational performance and have been able to overcome Implementation of the Company’s Strategy
existing challenges. Customer trust and satisfaction The monitoring role of the Board of Commissioners is
in the Company are key external factors in supporting conducted through the regular and intensive involvement
above-average market growth compared to other similar of the Board of Commissioners in guiding the preparation
companies. This indicates that the Directors are capable of the Company’s work plans and strategic initiatives for
of making sound decisions and implementing strategic the Board of Directors. The Board of Commissioners and
initiatives effectively and efficiently. the Board of Directors hold joint meetings to discuss
2023 Annual Report | PT Mandiri Tunas Finance 33
Page 34
Management
Report
various agendas related to work plans, operations, relatively stable growth in new car sales at 1.1 million units,
business opportunities, and strategic issues that require and APPI projects a growth rate in financing receivables
the approval of the Board of Commissioners. This from multifinance companies of 12-13% in 2024.
meeting serves as a coordination mechanism to discuss
periodic reports from the Board of Directors and provide Considering the work and strategic plans prepared by
responses, notes, and advice, which are documented in the Board of Directors for the year 2024, as well as MTF’s
meeting minutes. Additionally, monitoring and review of solid performance in 2023, the Board of Commissioners
strategies are also conducted trough the reports presented believes that there is still significant business potential
by committees under the Board of Commissioners or for the Company to strengthen its growth. In addition
through other written communication channels. to continuing to focus on disbursing new financing for
cars, heavy equipment, and multipurpose vehicles, the
The Board of Commissioners held a total of 6 internal Company also supports OJK’s Green Financing initiatives
meetings and 5 joint meetings with the Board of Directors by channeling new financing for electric cars, MSMEs,
throughout 2023. The Board of Commissioners continuously and other Green Financing-based financing. All plans for
monitors the formulation and implementation of facing 2024 must still take into account potential risks and
the Company’s strategies and policies. The Board of prioritize GCG at every operational phase, as well as further
Commissioners also oversees the sustainability of optimize digital transformation efforts.
implementing Good Corporate Governance (GCG), including
risk management, and the development of the Company’s Board of Commissioners Perspective on
sustainability strategy as outlined in the Sustainable Corporate Governance
Financial Action Plan (RAKB), which are crucial for the The Board of Commissioners perspective on the
Company’s development. implementation of Good Corporate Governance (GCG)
by the Board of Directors in the Company has generally
Overall, we believe that the Board of Directors has been quite positive. The Company has implemented
effectively implemented the Company’s strategy into GCG principles in every operational and day-to-
policies and actions that have successfully increased day business activity. We evaluate that all organs
market share and positioned the Company for future of the Company have demonstrated a high level of
growth. In the future, the Board of Commissioners commitment to consistently implementing principles
will continue to monitor the policies and strategies of transparency, accountability, responsibility,
implemented by the Board of Directors to ensure that fairness, equality, and independence to create
management consistently applies risk management added value for all stakeholders. The Company
practices to achieve sustainable growth. also continuously strives to implement Corporate
Governance best practices as a foundation for creating
Perspective on the Company’s Business sustainable value for the interests of all stakeholders.
Prospects
The Board of Commissioners embraces the Management’s The implementation of GCG in the Company consistently
optimism regarding the Company’s business prospects in shows improvement every year, as reflected in the
2024, amidst projections from various institutions, most scores obtained from the assessment of the quality
of which predict that Indonesia’s economic growth in 2024 of Corporate Governance implementation conducted
will remain stable at around 5.0% (YoY). Some institutions by the Indonesia Institute for Corporate Governance
that have projected Indonesia’s economic growth in 2024 (IICG) in 2023, which is at 83.1, an improvement from the
including the World Bank at 4.9%, ADB and IMF at 5.0%, and previous year’s score of 82.1.
OECD at 5.2%. The Indonesian Government has set a target
of 5.2% economic growth for Indonesia in 2024. The Board of Commissioners remains committed to
monitoring and evaluating the quality of the Company’s
The Board of Commissioners evaluates that the conditions GCG implementation and will continue to support the
in 2023 were quite challenging due to geopolitical factors Board of Directors in conducting business sustainably
in Indonesia, but growth opportunities still exist, especially while adhering to GCG principles.
after the presidential and legislative elections. The Financial
Services Authority (OJK) projects that the Financing Evaluation of Committees Under the
Industry’s growth rate could reach a minimum average of Board of Commissioners
8% in the period 2024-2027, provided that Indonesia’s real In conducting monitoring duties, the Board of
GDP growth is 5.5%, the inflation rate is between 1.5-3.5%, Commissioners is assisted by several Committees,
there is no influence of COVID-19, automotive and heavy namely the Audit Committee, the Nomination and
equipment financing grows at around 5% annually, and the Remuneration Committee, and the Risk Monitoring
growth rate of other types of businesses will average 17% Committee. In 2023, all of these Committees performed
annually in the next 5 years. Therefore, GAIKINDO projects their tasks and responsibilities well and played an
34 2023 Annual Report | PT Mandiri Tunas Finance
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02
important role in supporting the Board of Commissioners on the results of committee meetings are presented at
in conducting monitoring duties. This assessment is the Board of Commissioners Meeting for guidance and
based on various criteria, including the frequency and monitoring of the Board of Directors.
conduct of meetings, attendance rates at meetings, the
competence of members, performance achievements, Change in the Composition of the Board
and the quality of recommendations. of Commissioners
In 2023, there was a change in the composition of the
The Audit Committee monitors and evaluates the Board of Commissioners as stated in the Statement of
planning and implementation of the Company’s Resolution of the Annual General Meeting No. 137 dated
internal audits, as well as follows up on audit reports June 28, 2023. Fendy Eventius Mugni was appointed
for improvement measures. The Audit Committee also as an Independent Commissioner, replacing Ravik
reviews and evaluates the Company’s financial reports, Karsidi, resulting in the composition of the Board of
with any significant findings being forwarded to the Commissioners as of December 31, 2023, as follows:
Board of Commissioners for further consideration. • Rico Adisurja Setiawan : President Commissioner
• Fendy Eventius Mugni : Independent Commissioner
The Nomination and Remuneration Committee evaluates • Totok Priyambodo : Commissioner
the Company’s remuneration policies, including salaries,
honorariums, benefits (medical, health, loan facilities, Appreciation
and others), bonuses (for the Board of Commissioners In conclusion, allow me, on behalf of the Board of
and Directors), and the latest remuneration for Directors, Commissioners, to extend our utmost gratitude to the
the Board of Commissioners, employee health insurance, entire Board of Directors and employees of the Company
and other benefits. for their dedication and hard work, which have led to
MTF achieving outstanding performance in 2023. We also
The Risk Monitoring Committee analyzes potential risks express our appreciation and gratitude to shareholders
related to financing activities, operations, credit, and and all stakeholders for their trust, loyalty, and
market developments. Additionally, this committee is unwavering support, enabling the Company to continue
tasked with evaluating any policies and new regulations growing despite various challenges.
that may impact the Company’s business activities.
We hope to continue nurturing good relationships and
To measure the performance of the Audit Committee, Risk cooperation with the Board of Directors, management,
Monitoring Committee, and Nomination & Remuneration and all stakeholders so that the Company can remain
Committee, the Board of Commissioners, serving as the optimistic about achieving even better growth in the
committee chair, must convene committee meetings future and continue to have a positive impact on all
under applicable regulations. Subsequently, follow-ups stakeholders.
Jakarta, April 17, 2024
On Behalf of the Board of Commissioners PT Mandiri Tunas Finance
Rico Adisurja Setiawan
President Commissioner
2023 Annual Report | PT Mandiri Tunas Finance 35
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Management
Report
Board of Directors Report
Pinohadi G. Sumardi
President Director
36 2023 Annual Report | PT Mandiri Tunas Finance
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02
Dear all Shareholders and Stakeholders,
We offer our heartfelt gratitude to the presence of the Almighty God for His infinite blessings upon us all, enabling PT
Mandiri Tunas Finance to face the challenges of the economic conditions in 2023. The Company remains committed
to driving positive performance for business growth specifically and the Indonesian economy in general. With
the support of the Board of Commissioners and all stakeholders, the Board of Directors continues to strengthen
business management by prioritizing superior and competitive products and services.
Furthermore, allow us to present the Directors Annual Report for the fiscal year 2023, which comprehensively
describes the situation and conditions surrounding the Company, business prospects, and strategic initiatives
undertaken by the Board of Directors.
Economic and Industrial Review MTF Performance in 2023
The year 2023 remained a geopolitical year that had an Amidst the uncertainties of the global and national
impact on economic growth projections. Conflicts such economies entering a political year, Mandiri Tunas
as Russia-Ukraine, Israel-Hamas, inflation spikes, and Finance has managed to achieve commendable
interest rate hikes signaled that the global economic performance. This is reflected in the achievement of new
conditions remained uncertain until the end of 2023. financing disbursements in 2023, reaching Rp32.69 trillion,
a growth of 17.75% (YoY) from Rp27.76 trillion in 2022. This
Nevertheless, Indonesia’s economy in 2023 managed has had a positive impact on revenue achievement. It is
to grow positively by 5.05%, surpassing the average noted that the Company’s revenue in 2023 exceeded the
global economic growth of 3.00%, according to the target by 20.89% or amounted to Rp4.75 trillion, from
International Monetary Fund (IMF). The Government’s Rp3.93 trillion in 2022.
success in managing the COVID-19 pandemic last
year has led to the normalization of economic This success led to Mandiri Tunas Finance’s net profit
activities and people’s mobility, driving an increase also increasing to Rp1.16 trillion, growing by 54.74%
in purchasing power and domestic demand, thereby (YoY) from Rp750 billion in 2022. The Company’s total
accelerating private consumption growth. Outputs assets also grew by Rp5.99 trillion or 25.28% to Rp29.72
from transportation and communication services, trillion, this growth was in line with the increase in the
trade, and hospitality, as well as food, textile, and Consumer Financing Receivables portfolio.
basic metal processing sectors, experienced the
fastest growth in 2023. From an operational aspect, the sales of new cars
in 2023 experienced a growth slowdown of 1.53%,
Bank Indonesia raised the benchmark interest rate with a total of 998 thousand units sold, lower than
several times in 2023 to 6.00% from 5.50% in 2022. the achievement in 2022 of 1,014 thousand units.
This occurred alongside the increase in interest rates However, MTF managed to maintain good operational
caused by major economies’ monetary policies in performance, as seen in the total new financing
response to global economic uncertainty. However, disbursements reaching Rp32.69 trillion, a growth
Indonesia managed to maintain a trade surplus by of 17.75% compared to 2022 with a value of Rp27.76
strengthening the exchange rate of the Rupiah and trillion. In terms of the automotive market, the
maintaining low inflation rates. As of December number of new cars financed by the Company also
31, 2023, the Rupiah closed at Rp15,416 against the grew by 6.65% with a value of 88,002 units compared
US Dollar, strengthening compared to the end of to 2022 with 82,515 units. Additionally, the Company
the previous year at Rp15,731. The inflation rate in recorded a significant increase in the value of
Indonesia also remained at 2.61%, lower than the financing for electric vehicles by 198.15% or Rp591.09
previous year’s 5.51% (YoY) in 2022 (based on the billion.
Consumer Price Index (CPI) inflation for 2023.
2023 Annual Report | PT Mandiri Tunas Finance 37
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Management
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Strategy and Strategic Policy government policies that may impact the business
In 2023, MTF implemented various strategies to strengthen environment, both internally and externally. To
its business by applying three main strategies as the remain committed to the company’s business plan,
foundation for growth and market leadership: we periodically evaluate the strategies, policies,
1. Growing the captive business segment originating and their implementation. Additionally, the Board of
from Bank Mandiri by creating a good captive Directors coordinates with the Board of Commissioners
business ecosystem through expanding business to to receive guidance and oversight. This is done to
grow through Mandiri bank referrals and retail branch ensure that the implemented strategies and policies
penetration, while maintaining captive business remain relevant to business developments and are
growth at 30% of total new financing. aligned with the predetermined objectives.
2. Maintaining the business segment originating from
dealers and partners through commercial and heavy
equipment expansion targeting specific sectors, Comparison of Realization and Achieved
maintaining revenue growth according to risk profile, Targets
and increasing retail business above 13% to become The Company kicked off 2023 with a sense of
the Number 1 Car Financing Company. determination that MTF would be able to reach the
3. Optimizing the database to add value to customers targets set forth in the Annual Business Plan (ABP).
through increasing repeat orders above 30%, As of December 31, 2023, the Company recorded
developing new business through databases, and outstanding performance, with a significant portion
developing data technology to create business of the targets successfully achieved. Among these
support. achievements, revenue exceeded the target by
107.59%, totaling Rp4.75 trillion, in line with the
Throughout 2023, several factors had the potential increase in the disbursement of new financing by
to significantly impact the sustainability of the Rp32.69 trillion, growing by 17.75% from the previous
Multifinance Industry in Indonesia, including the year. The Company has proven its ability to maintain
increase in the BI rate and the decrease in the growth operational efficiency, with expenses amounting
of new car sales. In Q4 2023, Bank Indonesia raised the to Rp3.26 trillion, aligning with the target, thereby
benchmark interest rate (BI rate) to 6.00% as a measure generating an increase in net profit of Rp1.16 trillion,
to control inflation. However, the increase in the BI surpassing the target of 115.95%.
rate had a significant impact on the increase in market
interest rates, leading to increased loan costs for the This indicates that the Company has successfully
Financing Industry, resulting in adjustments to the navigated challenges and adapted to market
interest rates charged to customers. changes. Our business target achievements serve
as a foundation for building a stronger groundwork
and maintaining its competitive edge to thrive in the
The Role of the Board of Directors in increasingly complex market landscape today.
Setting Targets and Strategies
The Board of Directors of the company plays a crucial role
in formulating strategies and policies adopted in 2023 Challenges Faced by MTF
to achieve business objectives and provide maximum The company continuously focuses on strengthening its
returns to all stakeholders. The formulation of the market position and fortifying its business foundation to
company’s strategy is carried out through discussions enhance competitiveness and adapt to dynamic market
with the management team to analyze all possible risks developments. Some obstacles or challenges faced in
in financial and non-financial areas, as well as explore 2023 include those related to information technology and
business prospects. human resources.
Currently, technology is evolving rapidly, and companies
The Board’s Process in Ensuring the are required to respond quickly in adopting digital
Implementation of Company Strategies technology. It is believed that technology can help
In 2023, a year filled with geopolitical challenges, will consumers access services at lower costs and increase
to monitor potential changes resulting from shifts in company profitability.
38 2023 Annual Report | PT Mandiri Tunas Finance
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After implementing digital transformation strategies Efforts will be made to strengthen the Company’s
through MTF 1Access and MTF Mobile, the socialization position through the optimization of market
program for internal and external business partners penetration from all segments and business sources,
in implementing MTF 1Access and MTF Mobile becomes including Retail, Wholesale, and Multiguna segments.
a process that we continually engage in to sustainably The Company will optimize the new foundation
provide fast and easy services. built in the previous year with more energy and
enthusiasm so that MTF can become a leader in the
Mutually, information technology and human resources Financing Industry.
have a mutually influential relationship. Information
technology can enhance performance and enable all Implementation of Corporate Governance
activities to be completed quickly, accurately, and Mandiri Tunas Finance continues to demonstrate its
efficiently, thus increasing work productivity because consistency in fulfilling the commitment to implement
information technology generates quality information. Good Corporate Governance (GCG) as the foundation
As a company operating in financial services, human for conducting the Company’s business activities. The
resource competency is crucial. Therefore, MTF management and solid foundation of good governance
continues to enhance employee competency through are believed to protect all parties involved in the business
various education and training activities. We implement while also enhancing the Company’s credibility in the
this by ensuring that all employees are required to eyes of stakeholders and consumers.
improve their competence through education and
training, which is measurable in each employee’s Key The Company continues to improve the quality of
Performance Indicators (KPIs). corporate governance implementation, in addition
to conducting self-assessments individually or
Business Prospects integratedly, which are reviewed from aspects of
The Financial Services Authority (OJK) projects that Governance Structure, Governance Process, and
the growth rate of the Financing Industry can reach Governance Outcome regularly. MTF actively participates
a minimum average of 8% in the period 2024-2027, in the ranking of corporate governance implementation
with the condition that Indonesia’s real GDP growth quality conducted by external parties to obtain feedback
is 5.5% and the inflation rate is 1.5-3.5%, with no in improving the quality of the Company’s corporate
influence from COVID-19, automotive and heavy governance. The external party assessing the quality of
equipment financing grows at around 5% per year. the Company’s corporate governance implementation
In 2024, GAIKINDO targets total car sales in the is The Indonesian Institute for Corporate Governance
domestic market to reach 1,100,000 units, where the (IICG) which using Corporate Governance Perception
multipurpose vehicle (MPV) segment, especially low Index (CGPI) for the assessment criteria. In 2023, the
MPV and Low-Cost Green Car (LCGC), still dominates score achieved from this assessment was 83.1, better
sales in Indonesia. GAIKINDO’s target in 2024 opens than the previous year’s score of 82.1.
opportunities for Financing Companies, especially
those whose main segment is four-wheeled vehicles, The implementation of the Company’s GCG in 2023 is as
to provide financing for new cars and increase the follows:
market share. 1. The Company’s participation in the Corporate
Governance Perception Index (CGPI) program ranking
The Indonesian Financing Company Association organized by The Indonesia Institute for Corporate
(APPI) also projects a 12-13% growth in financing Governance (CGPI) successfully maintained the
receivables for the Multifinance Industry in 2024. “Trusted Companies” predicate.
Two factors serve as catalysts for the Multifinance 2. The Company conducted a self-assessment of
Industry to continue growing in double digits: corporate governance implementation individually
Indonesia’s economy still growing at 5% and the based on the provisions of OJK Regulation No.
increasing of consumer purchasing power. 29/POJK.05/2020 regarding Amendments to OJK
Regulation No. 30/POJK.05/2014 concerning Good
In seizing opportunities and business prospects in Corporate Governance for Financing Companies
the coming year, the Company has devised a plan and SEOJK No. 15/SEOJK.05/2016 concerning the
to become the ‘Market Leader’ in 2024. In 2024, the Report on the Implementation of Good Corporate
Company targets new financing above Rp36 trillion Governance for Financing Companies, conducted
with a profit growth of 33% compared to 2023. twice a year.
2023 Annual Report | PT Mandiri Tunas Finance 39
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Management
Report
3. The Company conducted a self-assessment of Change in the Composition of the Board
corporate governance implementation for the Mandiri of Directors
Group based on the provisions of OJK Regulation In 2023, MTF did not make any changes to the composition
No. 18/POJK.03/2014 and SEOJK No.15/SEOJK.03/2015 of the Board of Directors, so the arrangement and
regarding Integrated Governance Application for composition of the Board of Directors as of December 31,
Financial Conglomerates, conducted twice a year. 2023, are as follows:
• Pinohadi G. Sumardi : President Director
The implementation of GCG certainly plays a crucial • R. Eryawan Nurhariadi : Director
role in fostering the growth of the company. As steps • William Francis Indra : Director
to achieve the Company’s vision and mission in 2023,
several initiatives have been undertaken to support the
establishment of good GCG quality: Appreciation
1. Refinement and updating of policies and procedures The Board of Directors expresses gratitude for the
to align with evolving tasks, responsibilities, and trust placed by the Shareholders in conducting the
dynamic conditions. Company’s business activities. The guidance and input
2. To support business processes and enhance the provided by the Board of Commissioners supports the
company’s integrity, in 2023, SNI ISO 27001 IT Board in achieving the business objectives set.
Security Management certification was conducted
for MTF 1Access. Additionally, plans were made for The Board of Directors extends its highest appreciation
the implementation of anti-bribery through SNI for the dedication and collaboration of the entire
ISO 37001 Anti-Bribery Management System (SMAP) Management and Officers of MTF throughout the fiscal
certification. year 2023. The Board of Directors also extends its
3. The company also fulfilled the Anti Money Laundering utmost appreciation to other stakeholders, including
(AML) system to identify and analyze transactions regulators, customers, business partners, and others.
and debtor profiles as part of regulatory reporting Thank you for the support provided, especially
compliance and as an implementation of POJK No. in optimizing the Company’s performance and
8 of 2023 regarding the Implementation of Anti- implementing good corporate governance.
Money Laundering Programs, Prevention of Terrorism
Financing, and Prevention of Financing of Weapons of
Mass Destruction in the Financial Services Sector.
Jakarta, April 17, 2024
On Behalf of the Board of Directors of PT Mandiri Tunas Finance
Pinohadi G. Sumardi
President Director
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02
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2023 Annual Report | PT Mandiri Tunas Finance 41
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Management
Report
Board of Commissioners
Fendy Eventius Mugni Rico Adisurja Setiawan Totok Priyambodo
Independent Commissioner President Commissioner Commissioner
42 2023 Annual Report | PT Mandiri Tunas Finance
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02
Board of Directors
R. Eryawan Nurhariadi Pinohadi G. Sumardi William Francis Indra
Director President Director Director
2023 Annual Report | PT Mandiri Tunas Finance 43
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Management
Report
Statement Letter of Members of
The Board of Commissioners Regarding Responsibility
for The 2023 Annual Report PT Mandiri Tunas Finance
We, the undersigned, declare that all information in the Annual Report of PT Mandiri Tunas Finance for the year 2023 has
been fully disclosed and take full responsibility for the accuracy of the contents of the company’s Annual Report.
Thus this statement is made with truth.
Jakarta, April 17, 2024
Board of Commissioners
Rico Adisurja Setiawan
President Commissioner
Fendy Eventius Mugni
Independent Commissioner
44 2023 Annual Report | PT Mandiri Tunas Finance
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02
Statement Letter of Members of
The Board of Directors Regarding Responsibility
for The 2023 Annual Report PT Mandiri Tunas Finance
We, the undersigned, declare that all information in the Annual Report of PT Mandiri Tunas Finance for the year 2023 has
been fully disclosed and take full responsibility for the accuracy of the contents of the company’s Annual Report.
Thus this statement is made with truth.
Jakarta, April 17, 2024
Board of Directors
Pinohadi G. Sumardi
President Director
R. Eryawan Nurhariadi William Francis Indra
Director Director
2023 Annual Report | PT Mandiri Tunas Finance 45
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Management
Report
Executive Officer (Chief)
Afri Feder Fauzi B. Perana Citra Ketaren Johanes Barus
Chief Chief Chief
46 2023 Annual Report | PT Mandiri Tunas Finance
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02
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2023 Annual Report | PT Mandiri Tunas Finance 47
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03 Company Profile
Page 49
Page 50
Company
Profile
General Information and Company Identity
Name PT Mandiri Tunas Finance
Date of Establishment May 17, 1989 (Under the name of PT Tunas Financindo Corporation)
Legal Status Limited Liability Company (LLC)
PT Tunas Financindo Corporation (1989)
Predecessor
PT Tunas Financindo Sarana (2000)
Motor vehicle financing for both retail customers and businesses, encompassing new cars, large
Products and Services
motorcycles, commercial vehicles, heavy equipment, and multi-finance.
Investment financing, working capital, multi-purpose, and other financing activities under the
Line of Business
approval of the Financial Services Authority (OJK).
PT Bank Mandiri (Persero) Tbk (51,00%)
Ownership
PT Tunas Ridean (49,00%)
Deed No. 262 dated May 17, 1989, executed by Notary Misahardi Wilamarta, S.H., a Notary in Jakarta,
Legal Basis of has been ratified by the Minister of Justice in Decree No. C2-4868.HT.01.01.TH.89 dated June 1, 1989,
Establishments and announced in the State Gazette of the Republic of Indonesia No. 57, Supplement No. 1369
dated July 18, 1989.
Rp1.000.000.000.000
Basic Capital
(One Trillion Rupiah)
Rp250.000.000.000
Capital Allocation
(Two Hundred and Fifty Billion Rupiah)
Bond Listing Market Indonesia Stock Exchange (IDX)
Ticker Code TUFI
3A Floor, Graha Mandiri
Jl. Imam Bonjol No.61
Menteng, Central Jakarta
Head Office
DKI Jakarta 10310, Indonesia
Telephone : +61 21 230 5608
Fax. : +61 21 230 5618
Arif Reza Fahlepi
Corporate Secretary E-mail : corporate.secretary@mtf.co.id
Website : www.mtf.co.id
Facebook : Mandiri Tunas Finance
Instagram : @mandiritunasfinance
Linkedin : Mandiri Tunas Finance
Social Media
Whatsapp : 08111455740
Youtube : Mandiri Tunas Finance
Tiktok : @mandiritunasfinance
E-mail : customer.service@mtf.co.id (Monday-Friday, 08.30-17.30 Western Indonesia Time)
Customer Support
Care Center : 1500059 (Monday-Friday, 08.00-17.00 Western Indonesia Time)
Number of Employees 3,328 Employees (2023)
124 Branch offices
Business Network
9 Non-Branch Representative Offices
1. MTF Mobile
2. MTF 1 Access
3. MTF Mobile Apps;
a. Mobile Survey
Mobile Application b. Mobile Collection
c. Mobile License Plate
d. MTF Report
e. MTF OSR
4. HC EAZY
50 2023 Annual Report | PT Mandiri Tunas Finance
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03
Brief Company History
Establishment History and MTF Development Group acquisition and changing the Company’s name
In the early days of its establishment, the Company to PT Mandiri Tunas Finance, which followed by
operated in the motor vehicle financing provision Company restructuration. Along with the acquisition,
facilities, which initially targeted at the Tunas PT Tunas Ridean’s owned the 49.00% of total shares.
Ridean Group owned Dealer network consumers. Upon the Company restructuration and the onset
Along with the development of business portfolio, of 2 (two) big business entities in automotive and
PT Tunas Financindo Corporation changed its name banking industries, the Company was required to
to PT Tunas Financindo Sarana in 2000. Since the develop progressively and be sustainable to be a
early days of company’s establishment until 2009, reliable financing institution in Indonesia, and being
the Company’s share ownership was held by PT capable to be the leader in its market segment.
Tunas Ridean which was the biggest independent
automotive group in Indonesia, with more than With that overhaul, the Company managed to
100 branch offices across the country. In 2009, accelerate the business by executing the necessary
Company took a strategic approach towards business improvements. These improvements were made
development in expanding the market reach and possible by the focused performance on automotive,
strengthening the capital structure so it may optimize heavy machinery and multipurpose sector funding
the potency to compete in Indonesian automotive industries. In the automotive financing segment,
financial institution scheme. The step taken was the the Company provided funding for new cars, large
Company’s acquisition by PT Bank Mandiri (Persero) motorcycles, commercial vehicles, and heavy
Tbk as one of the State-owned Enterprises (BUMN) machineries. In accordance with The Financial Services
which operates in banking sector with vast business Authority (OJK) Regulation No. 7/POJK.05/2022 to
network and large sum of customers. PT Bank Mandiri create a resilient, contributable, inclusive, also
(Persero) Tbk made a 51.00% share of Tunas Ridean keeping a stable and sustainable monetary system
2023 Annual Report | PT Mandiri Tunas Finance 51
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Company
Profile
financing industry, Company came up with other By providing easy, innovative, and competitive financing
mean of funding, specifically multipurpose funding facilities and solutions for consumers to acieve their
to meet various public needs. dreams of owning a new car, large motorcycle, fulfilling
commercial vehicle needs, and heavy equipment to
Other than utilizing the financial resources form the support business activities, as well as financing and
bank as to develop the business, Company also issued operational leasing, and multipurpose education, the
and listed bond. The history of Company’s bond issue Company remains committed to prioritizing customer
started from Bond I until the year of 2011 which at service in terms of providing convenience, especially
times was listed in the Surabaya Stock Exchange before supported by branch offices throughout Indonesia and
it merged with Jakarta Stock Exchange to become high-quality human resources, as well as adequate
Indonesia Stock Exchange (IDX). The Company also infrastructure facilities.
did a Bond Listing in Indonesia Stock Exchange until
Bond VI. Afterwards, the Company also issued a Public An Automotive Financing Company Oriented
Offering of Continuing Bond I Phase I in 2013, Public towards Meeting Community Credit Needs
Offering of Continuing Bond I Phase II in 2014, Public With the vision of “To be your Trusted Financing
Offering of Continuing Bond I Phase III in 2015, Public Partner,” the company strives to understand the
Offering of Continuing Bond II Phase I in 2015, Public community’s financing needs by not only offering
Offering of Continuing Bond II Phase II in 2016, Public a diverse range of financing products but also
Offering of Continuing Bond III Phase I in 2016, Public providing added value to ensure effective and
Offering of Continuing Bond III Mandiri Tunas Finance efficient processes. Additionally, we continually focus
Phase II in 2017, Public Offering of Continuing Bond IV on affordability by expanding our business footprint
Phase I Mandiri Tunas Finance in 2019, Public Offering across Indonesia. Given Indonesia’s demographic,
of Continuing Bond IV Phase II Mandiri Tunas Finance which still emphasizes the commodities sector and
in 2019, Public Offering of Continuing Bond V Phase Small and Medium Enterprises (SMEs), the company
I Mandiri Tunas Finance in 2020, Public Offering of aims to meet the demand for modernizing vehicles
Continuing Bond V Phase II Mandiri Tunas Finance and heavy production equipment to support
in 2020, Public Offering of Continuing Bond V Phase commercial activities, leasing, and other needs.
I Mandiri Tunas Finance in 2021, Public Offering of This represents potential that the company must
Continuing Bond V Phase II Mandiri Tunas Finance maximize to create strong synergies for Indonesia’s
in 2021, Public Offering of Continuing Bond V Phase economic activities.
III Mandiri Tunas Finance in 2022, Public Offering of
Continuing Bond VI Phase I Mandiri Tunas Finance in Optimal Performance
2023, and Public Offering of Continuing Bond VI Phase Enhancing the quality and professionalism of human
II Mandiri Tunas Finance in 2023. resources is crucial in achieving peak performance
targets. To this end, the company implements a
With the all the efforts and hard-works put by the comprehensive cadet program to cultivate top-tier
Company so far, in the end, remarkable results came human resources capable of occupying strategic
into fruition. It was proven by the increase in Company’s positions within the organization. Among the steps taken
credit ranking given by PT Pemeringkat Efek Indonesia is the organization of Supervisor Development Program
(Pefindo) of idBBB+ (triple B plus) in 2003, to idAA (SDP), Management Development Program (MDP), and
(double AA) in 2012. In 2013, 2014, and 2015, Pefindo Senior Manager Development Program (SMDP) as career
continued to give idAA (double A) rank. In the end of development initiatives, incorporating educational
2016, Company was capable to achieve a rank of idAA+ and training programs to identify the best candidates
(double A plus), which then followed by the rank of internally. The company also hosts a Management
idAAA (triple A) by the year of 2022. Company has hoped Trainee (MT) program, which serves as a selection process
in accordance with its good credit rating, to supress for new employees, providing education and training
the interest expense which impacted the Company’s to enhance human resource competencies, grooming
financial management strategy to be more efficient so them to become Future Leaders of the company with
it may encourage optimum business performance. strong capabilities and high loyalty. Additionally, the
52 2023 Annual Report | PT Mandiri Tunas Finance
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03
Company continuously improves and refines systems penetration across many different regions of Company’s
and operational procedures, upholds the Perwira marketing offices. Through the support and assistance,
MTF culture, maximizes employee performance, and and harmonious collaboration conducted by the holding
undertakes various efforts to minimize fraud, all aimed company and all business partners, Company was able
at achieving the company’s vision and mission. to be the Top 3 Car Financing Company in Indonesia with
the credit rating of idAAA.
The Best and Reliable Performance
The Company has gained a strong support from the Information About Name Change
holding company of Bank Mandiri and Tunas Ridean, As described, the Company was legally established on
whether it is a financial support, or supports regarding May 17, 1989 under the name of PT Tunas Financindo
financing products market penetration through nurturing Corporation. Along with the increasing number of
potential segments. As a holding company, Bank Mandiri business portfolio, on August 18, 2000, PT Tunas
has encouraged the Company’s growth and sustainability Financindo Corporation changed its name to PT Tunas
by pushing the improvement on market penetration Financido Sarana based on Notarial Deed No. 49 made
through Bank Mandiri’s network of 139 branch offices before Adam Kasdarmadji S.H., M.H., Notary, in Jakarta.
and 2,104 sub-branch offices spanned across Indonesia. This Deed of Modification was approved by The Minister
Apart from unwavering support from the holding of Law and Legislation under The Ministerial Decree
company, Company sustainably improve and widen No. C-21195HT.01.04.TH2000 dated September 22, 2000.
the collaboration through all motor vehicle Exclusive In 2009, Tunas Ridean Group as founder decided to
Licensee Agent (APM) and dealer network, as well as widen the market reach and, strengthen the capital
business partners across all Company’s marketing office structure with the Company’s acquisition by PT Bank
region to improve funding market share. Nowadays, Mandiri (Persero) Tbk. PT Bank Mandiri (Persero) Tbk
Company has collaborated with almost all APM so that had acquired 51.00% of Company’s shares with the rest
the Company is able to provide funding for all vehicle of 49.00% shares still held by PT Tunas Ridean. Related
brand needed by the consumers. This acts as a prove that to that, in June 29, 2009, the Company changed its name
APM, dealers, and business partners put a strong trust to PT Mandiri Tunas Finance based on the Articles of
toward the Company. Facilitated by those collaborative Association in accordance with Notary Deed No. 181
efforts, the Company can provide more types of motor made before Dr. Irawan Soerodjo, S.H., M.Si., Notary, in
vehicle for the consumers as well as the ease of market Jakarta.
May 17, 1989 August 18, 2000 June 20, 2009 until Now
PT TUNAS FINANCINDO PT TUNAS FINANCINDO PT MANDIRI TUNAS FINANCE
CORPORATION SARANA
2023 Annual Report | PT Mandiri Tunas Finance 53
Page 54
Company
Profile
Milestones
1989 1995-1997 2000 2004-2008
Established as: Company opened 7 Company changed Company opened
PT Tunas Financindo new branches. its name to 20 new branches.
Corporation, fully PT Tunas
owned by the Tunas Financindo
Ridean Group. Sarana.
%
2010 2009
1. Company opened 13 • Karawang;
• 51% Company shares acquisition
(thirteen) New Branch • Tarakan;
by PT Bank Mandiri (Persero) Tbk.
Offices in: • Kediri;
• Company changed its name to
• Bumi Serpong Damai • Tegal;
PT Mandiri Tunas Finance.
(Tangerang); • Bengkulu;
• Used cars financing focus.
• Pecenongan (Central • Manado.
Jakarta); 2. Company moved
• Denpasar; its Headquarter to
• Pontianak; Graha Mandiri,
• Kendari; Jl. Imam Bonjol,
• Palangkaraya; No. 61, Jakarta 10310.
• Parepare (South
Soulawesi);
2011 2012 2013
Company opened 22 (twenty- • Tanjung (South 1. New car funding focus. Company opened 9 (nine) New
two) New Branch Offices in: Kalimantan); 2. AA(idn) credit rating; Branch Offices in:
• Rantau Prapat (North • Palu; Stable Outlook by Fitch • Batam (Riau
Sumatera); • Madiun; Rating Indonesia. Archipelago);
• Muara Bungo (Jambi); • Jember; 3. Bond credit rating • Bukittinggi (West
• Padang; • Gianyar; increase from idA+ Sumatra);
• Pangkal Pinang; • Kudus; (Single A plus; Stable • Duri (Riau);
• Banda Aceh; • Magelang; Outlook) to idAA (Double • Baturaja (South
• Sukabumi; • Mataram; A; Stable Outlook) Sumatera);
• Serang; • Gorontalo; by Pefindo. • Lubuklinggau (South
• Pondok Gede; • Bandung 2; Sumatra);
• Mampang Prapatan • WTC Mangga Dua • Cibubur (West Java);
(South Jakarta); (North Jakarta). • Bandarjaya (Lampung);
• Kebon Jeruk (West • Banjarbaru (South
Jakarta); Kalimantan);
• Tuban; • Tangerang 2 (Banten).
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2021 2022 2023
Company MTF back on • MTF launched MTF 1 • MTF presented a new solution in
track succeeded to Access as an assistance digital based customer service
provide positive values to bring up fast and easy namely, MTF Digital Service & MTF
towards stakeholders services. Mobile
with an amount of • Company rank increase • MTF set a record profit of Rp1.16
gained net profit of given by Perfindo of trillion and Rp32.69 trillion of funding
Rp245.88 billion. idAAA (Triple A) channel
• Company achieved the • MTF successfully maintained the
best MTF net profit of Company's rating from Pefindo
Rp750 billion. at idAAA.
2020 2019 2018
MTF supported the National • Collaboration with • Channeling Fintech.
Economic Recovery (PEN) as Mandiri Taspen. • Working capital funding.
an effort of Indonesian • Company launched a new • Financing throung online dealer.
Government in facing multipurpose funding • Factoring funding.
COVID-19 pandemic through with a brand of “Cash Aja”. • Company Inaugurated Ungaran
restructuring credit • Company launched Branch Office: Implementation of
payments for customers, Customer Experience Centralization of Input Processes
with a total sum up to Lounge. • Company minimized cost of fund
Rp13.15 trillion. • Company inaugurated MTF through offshore funding and
Cabang Pluit and Regional asset purchase.
IX Office & Balikpapan • Company opened 3 branch offices:
Branch Office. Medan 2, Pekanbaru 2, and
Ungaran.
2014 2015 2016 2017
1. Company launched Mandiri 1. Company opened 5 New 1. Company lauched • Company conducted an
KKB Branch Offices in: multipurpose offshore syndication to
2. Company Expanded Its • Sintang (West products. Singapore, Taiwan, and
Regional Offices from 6 to 9 Kalimantan); 2. Company established Japan.
Regional Offices. • Sampit (Central an addition payment • Servicing BSM OTO synergy.
3. Company opened 11 Kalimantan); channel through • Company opened New
(eleven) New Branch Offices • Mamuju (West retailer. Branch Offices in
in: Sulawesi); 3. Company opened 3 Banyuwangi, Ketapang,
• Ujung Batu (Riau); • Kotamobagu (North New Branch Offices in: Sorong, Jayapura, and
• Tanjung Pinang (Riau Sulawesi); • Bandung (West Ambon.
Archipelago); • Kupang (NTT). Java);
• Bontang (East 2. 20 Satellite Offices • Lebak Bulus
Kalimantan); located in Bank Mandiri (Jakarta);
• Cibinong (West Java); Branch Offices. • Luwuk (Central
• Rangkasbitung (Banten); Sulawesi) and
• Cikarang (West Java); • 1 Satellite Office in
• Garut (West Java); Bandar Lampung.
• Pekalongan (Central Java); 4. Perfindo credit rating
• Subang West Java); increase to idAA+
• Gresik (East Java);
• Mojokerto (East Java).
2023 Annual Report | PT Mandiri Tunas Finance 55
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Company
Profile
Company’s Vision, Mission, Culture, and Core Value
“ To be your Trusted Financing Partner
atau
Menjadi Mitra Pembiayaan Tepercaya Anda “
Trustworthiness is a DNA of any Financing Institutions. Thus, the
Company is committed to keep on nurturing the trust of all Company’s
customer. Company envisions that sustainable business development is
Vision
a business development that pays a meticulous attention towards all
customer’s needs and point of views. Therefore, the Company positions
itself as a partner and a true friend in every single of the customer’s
financial steps.
“ Provide Realiable Fast & Easy Service to
Customer
atau
Memberikan Pelayanan yang Cepat dan Mudah
yang dapat Diandalkan kepada Pelanggan
“
Mission
The Company firmly believes that trust was built upon a responsive and
reliable services. Through this mission, the Company continues on
improving the service swiftness and quality as well as, ensuring every
interaction will provide a pleasing customer experience.
In 2022, the Company has a Vision of “To Be the Most Progressive and
Reliable Multifinance in Indonesia” and a Mission of “To be oriented in
communities’ credit needs fulfilment to enhance the nation’s welfare
and to conserve the ecosystem; To give benefits and optimum values
towards stakeholders; Building a dedicated and professional human
resources through PERWIRA working culture; and to be an enjoyable and
triumphal in carrying out every duties to achieve the best feats”. Then,
the Company proceeded to formulate and set the Vision and Mission
REVIEW
update in 2023.
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Company Culture
The Company Culture at PT Bank Mandiri (Persero) Tbk and PT Tunas Ridean is shaped by the AKHLAK Core Values and
I-CARE principles, collectively known as the “PERWIRA Culture.” This culture was initially developed on December 11,
2009, and further refined on June 18, 2019. The PERWIRA Culture is based on four core values: Trust, Entrepreneurship,
Innovation, and Excitement, encompassing a total of thirteen key behaviors that all employees are expected to uphold
consistently and persistently.
Budaya Perwira
Perwira Cultures
KePERcayaan KeWirausahaan Inovatif KegembiRAan
Disciplined and Correct consistent Keep an open mind Joyful working
Responsible, honouring growth from the towards changes and atmosphere built upon
the principles of truth in beginning, built upon creating ideas fellowship, pride and
mind and action, and sense of belonging, through consistent vigour to preserve.
behaving in harmony to create additional learning to create Every employee has to
with conscience, morals, values and best creative solution. work with:
ethics and company service. Every Every employee has 1. Enthusiasm,
regulations. Every employee is to work with: dexterity, and
employee must uphold; mandatory to: 1. Adaptability preserverance
1. Integrity 1. Have a sense 2. Consistent learning 2. Synergy
2. Honesty of belonging 3. Creativity 3. Happiness
3. Responsibility 2. Proper consistent
4. Commitment growth from
the beginning
3. Customer focused
2023 Annual Report | PT Mandiri Tunas Finance 57
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Company
Profile
Line of Business as well as Products and Services
Business Activities
Referred to The Financial Services Authority of the Republic of Indonesia regulation No. 35 Year 2018 about Financing
Company Business Operation, the Company has conducted business activities as follows:
Business Activity Note
Investment Financing Has Been Conducted
Working Capital Financing Has Been Conducted
Multipurpose Financing Has Been Conducted
Other financing business activities under The Financial Services Authority approval Has Been Conducted
Supporting Business Activities
Aside from business activities mentioned, Company can conduct Operating Lease and/or service-fee based activities as
long as still under the legislation in the financial service sector.
Business Activities Conducted as well as Products and Services
Nowadays, the Company operates in investment financing, working capital, multi-purposes, factoring, and other
business activities under the approval of The Financial Service Authorities. Based on Financial Accounting Standards
(FAS) 5 (2009 Amendment) about “Operation Segment”, business segments were categorized into customer and
product category, which is fleet and retail, as well as other segments as a calculation which cannot be allocated into
the mentioned two segments.
Investment Financing
Is a financing effort of capital products and services which needed to carry out business/investment activities,
rehabilitation, modernization, expansion, or investment/business relocation given by the Debtor.
Working Capital Financing
Is a financing effort to fulfil the need of expenditure in one business activity cycle of the Customers, by providing financing
threshold towards the Customer that is committed and advised.
Retail Financing
Retail
Car
Motorcycle
Rp
Multipurpose (Cash Funds)
Retail Financing refers to financing provided to customers who apply for financing through MTF Branch Offices using
a Credit Scoring menu. Retail financing is offered to the target market to finance the purchase of motor vehicles,
including new passenger cars, used passenger cars, and even financing for bodywork. In retail financing, administrative
and insurance costs are borne by the customer, with the magnitude depending on the financing period and separately
determined within the financing products/packages provided during the financing period. Risk mitigation through
insurance participation is mandatory for financed assets.
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The presence of retail financing aims to provide customers with convenience in owning vehicles at competitive costs,
offering a diverse range of products suitable for customers’ needs and capabilities through installment payments.
Fleet Financing
Fleet
Car
Machines
Motorcycle
Heavy
Equipment
Off the Road
Fleet Financing is financing provided to customers managed by the Corporate Fleet Division, with the provision that
the Financing Limit (Batas Pemberian Pembiayaan/BPP) is given to 1 (one) Debtor or 1 (one) group of Obligors, both
corporate entities and individuals. Fleet financing is divided into 2 (two) books: Investment Financing and Working
Capital Financing.
Fleet financing aims to meet the needs of companies or legal entities in supporting business activities, promoting
the development of industrial sectors and infrastructure, Mandiri Tunas Finance, through its Corporate Fleet Division,
provides various financing facilities such as:
1. Large-scale financing
2. Cars Ownership Program (COP) financing
3. Motorcycles Ownership Program (MOP) financing
4. Operational vehicle financing
5. Financing for heavy equipment and machinery
Association Membership
To strengthen the business, MTF joined the organization membership, which are:
Name of Organization Scope MTF Position MTF Roles and Contributions
Asosiasi Perusahaan Increasing Indonesian economical stance form
National Member
Pembiayaan Indonesia (APPI) automotive sector
PT Rapi Utama Indonesia Encouraging business healthy, transparent, and
National Member
(RAPINDO) accountable practices in financial services
Kamar Dagang dan Industri As an interesting and strategic partner for business,
National Member
(KADIN) commercial and investment activities
2023 Annual Report | PT Mandiri Tunas Finance 59
Page 60
Company
Profile
Structure of Organization
Board of Commissioners
Nomination and
Risk Monitoring
Audit Committee Remuneration
Committee
Committee
President Director
(Pinohadi G. Sumardi)
Corporate Finance &
Sales & IT Director
Business Strategic Director
(William Francis Indra)
(R. Eryawan Nurhariadi)
Chief Marketing Chief Strategic Business
(Afri Feder Fauzi) (Vacant)
Strategic Marketing &
Operation Support Treasury & Finance Mandiri Liaison 1
Communication
Management Division Head Division Head Division Head
Division Head
(Yeremias) (Ramdhan Safitri) (Andre Tigor)
(Camar Sativa)
Accounting, Tax &
Information Technology Mandiri Liaison 2
Marketing Division Head Financial Planning
Division Head Division Head
(Andes Saputra) Division Head
(Kanda Octaviano) (Jarnawi)
(Rina Floriana R.)
Corporate Planning &
Corporate Fleet 1
Multiguna Division Head Performance Management
Regional Division Head Division Head
(Ruly Widyanto) Division Head
(Bragent Parlinggoman T.)
(Citra Judith L.)
Name of Regional
Regional Corporate Fleet 2
Division Head
Division Head
Regional 1 Puji Biso Santoso (Supriadi Waskito S.)
Regional 2 Joko Margono
Regional 3 Mardi Fahmi
Regional 4 Ari Paisal Rohman
Regional 5 Sukandar
Regional 6 Wawan Yulianto
Regional 7 Ronald Rajagukguk
Regional 8 Gun Gun Wildan
Regional 9 Irianto Musdiono
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Board of Directors
Information
Risk Management Anti-Fraud
ALCO Committee Credit Committee Technology Steering
Committee Committee
Committee
Chief AR
Chief Human Chief Risk Chief Credit
Management &
Capital & Legal Management Management
Digital
(Vacant) (Johanes Barus) (Vacant)
(B. Perana Citra K.)
Human Capital Retail Risk Credit
AR Management Corporate Audit
Division Head Management Management
Division Head Division Head
(Makah Indra Division Head Division Head
(A Tatep F.) (Bayu Mario)
Purnomo) (Indra Budi L.) (Ivan Ferdinand T.)
Corporate Risk Fleet AR Corporate Credit Corporate
HC Learning Management Secretary
Management Management
Division Head Division Head Division Head
Division Head Division Head
(Dadan Hamdhani) (Rully Rianto F.) (Arif Reza Fahlepi)
(Vitriati Hartika T.) (Jekson Benardo S.)
Recovery
Legal Division Head Management
(Arief Aphrian L.) Division Head
(Wicaksono Adi)
Credit Operation
Strategic Digital
& General Service
Division Head
Division Head
(Vacant)
(Vacant)
2023 Annual Report | PT Mandiri Tunas Finance 61
Page 62
Company
Profile
Profile of The Board of Commisioners
In 2023, there was a change in the composition of the Board of Commissioners. As
per the decision of Shareholders outside the Annual General Meeting to convene
the Annual General Meeting (Circular Resolution) based on the Statement
of Decision of the Annual General Meeting No. 137 dated June 28, 2023, Fendy
Eventius Mugni was appointed as an Independent Commissioner, replacing Ravik
Karsidi. Thus, the composition of the Board of Commissioners as of December 31,
2023, is as follows:
1. President Commissioner: Rico Adisurja Setiawan
2. Commissioner: Totok Priyambodo
3. Independent Commissioner: Fendy Eventius Mugni
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RICO ADISURJA SETIAWAN
President Commissioner
Place and Date of Birth/Age
Born in 1971, in Jakarta
Aged 52 as of December 2023
Nationality
Indonesian
Domicile
Central Jakarta
• Master of Business Administration from Woodbury University (1994)
Educational Background
• Bachelor of Science from University of Southern California (1992)
Certification Basic Financing Certification for Commissioners
Training in 2023 "A New Era of Financing" National Seminar
Was initially appointed as President Commissioner during the Annual General Meeting on April 26,
2017, based on the Statement of Decision of the Annual General Meeting No. 23 dated April 26, 2017.
His position as President Commissioner became effective through a Copy of the Decision of the
Board of Commissioners of the Financial Services Authority No. KEP-471/NB.11/2017 dated August 21,
2017, regarding the Assessment Results of the Competence and Suitability of Rico Adisurja Setiawan
as President Commissioner.
Legal Basis of
His second appointment as President Commissioner occurred during the Annual General Meeting on
Appointment
February 17, 2020, based on the Statement of Decision of the Annual General Meeting No. 28 dated
February 25, 2020.
He was reappointed for a third term as President Commissioner of Mandiri Tunas Finance during the
Shareholders' Decision outside the Annual General Meeting to convene the Annual General Meeting
(Circular Resolution) based on the Statement of Decision of the Annual General Meeting No. 137
dated June 28, 2023.
• From April 26, 2017, until the closing of the Annual General Meeting for the 2019 Financial Year
(First Term).
• From February 17, 2020, until the closing of the Annual General Meeting for the 2022 Financial
Term of Office
Year (Second Term).
• From June 28, 2023, until the closing of the Annual General Meeting for the 2025 Financial Year
(Third Term).
• President Director of PT Tunas Mobilindo Perkasa (2017-present)
• President Commissioner of PT Asia Surya Perkasa (2015-present)
• President Commissioner of PT Tunas Dwipa Matra (2013-present)
• Commissioner of PT Rahardja Ekalancar (2010-present)
Concurrent Position • President Director of PT Tunas Ridean (2010-present)
• President Director of PT Tunas Asset Sarana (2005-present)
• President Director of PT Surya Mobil Megahtama (2005-present)
• Director of PT Surya Sudeco (2005-present)
• President Director of PT Tunas Mobilindo Parama (1997-present)
• Commissioner of PT Tunas Financindo Sarana (now PT Mandiri Tunas Finance) (2005-2009)
• Director of PT Tunas Financindo Sarana (now PT Mandiri Tunas Finance) (2000-2005)
• President Director of PT Tunas Andalan Pratama (1998-2010)
• Director of Provisions (Asia) Trading Singapore (1998-2001)
Professional Background
• Commissioner of PT Tunas Dwipa Matra (1997-2010)
• Director of PT Tunas Ridean (1996-1998, 2001-2010)
• Director of PT Tunas Financindo Corporation (now PT Mandiri Tunas Finance) (1995-1999)
• Management Consultant at Prasetio Utomo Arthur Andersen (1995-1996)
While does not have any affiliation with members of the Board of Commissioners and the Board of
Affiliate Relationship Directors, he serves as the President Director of PT Tunas Ridean, which is a shareholder of the
Company.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
2023 Annual Report | PT Mandiri Tunas Finance 63
Page 64
Company
Profile
TOTOK PRIYAMBODO
Commissioner
Place and Date of Birth/Age
Born in 1974, in Surabaya
Aged 49 as of December 2023
Nationality
Indonesian
Domicile
South Jakarta
Educational Background Bachelor of Civil Engineering from the Bandung Institute of Technology (1997)
Certification Basic Financing Certification for Commissioners
• Webinar on "Leadership in Changing Atmosphere" organized by the Indonesian Financial
Services Association (APPI).
Training in 2023
• International Seminar on "Multifinance Indonesia: Welcoming The Great Opportunities After
Pandemic" organized by the Indonesian Financial Services Association (APPI).
Was appointed as a Commissioner of Mandiri Tunas Finance for the first time based on the decision
of Shareholders outside the Annual General Meeting to convene the Annual General Meeting (Circular
Resolution) according to the Statement of Decision of the Annual General Meeting No. 22 dated June
Legal Basis of
17, 2022. His position as Commissioner became effective through a Copy of the Decision of the Board
Appointment
of Commissioners of the Financial Services Authority No. KEP-60/KDK.05/2022 dated December 26,
2022, regarding the Assessment Results of the Competence and Suitability of Totok Priyambodo as
Commissioner.
Served as a Commissioner of Mandiri Tunas Finance from June 17, 2022, until the closing of the
Term of Office
Annual General Meeting for the 2024 Financial Year (First Term).
Senior Executive Vice President (SEVP) of Commercial Banking at Bank Mandiri (November 2020 to
Concurrent Position
March 2024)
• Senior Executive Vice President (SEVP) of Commercial Banking at PT Bank Mandiri (Persero)
Tbk since November 2020.
• Commissioner of PT Mandiri AXA General Insurance from May 2020 to January 2023.
• Group Head of Commercial Banking 6 at PT Bank Mandiri (Persero) Tbk from January 2019 to
November 2020.
Professional Background
• Group Head of Middle Corporate 6 at PT Bank Mandiri (Persero) Tbk from April 2018 to January
2019.
• Executive Business Officer of Commercial Banking at PT Bank Mandiri (Persero) Tbk from April
2017 to March 2018.
• Started his career at PT Bank Mandiri (Persero) Tbk in 2004.
Does not have any affiliation with members of the Board of Commissioners and the Board of
Affiliate Relationship Directors. However, he serves as the Senior Executive Vice President (SEVP) of Commercial Banking
at PT Bank Mandiri (Persero) Tbk, which is a shareholder of the Company.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
64 2023 Annual Report | PT Mandiri Tunas Finance
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03
FENDY EVENTIUS MUGNI
Independent Commissioner
Place and Date of Birth/Age
Born in 1972, in Tello Island
Aged 51 as of December 2023
Nationality
Indonesian
Domicile
Bogor
• Master of Electrical Engineering from the Universitas Kristen Indonesia (2020)
Educational Background
• Bachelor of Telecommunication Engineering from Universitas Kristen Indonesia (2001)
Certification Basic Financing Certification for Commissioners
Training in 2023 None
Was appointed as an Independent Commissioner of Mandiri Tunas Finance for the first time based
on the decision of Shareholders outside the Annual General Meeting to convene the Annual General
Meeting (Circular Resolution) according to the Statement of Decision of the Annual General Meeting
No. 137 dated June 28, 2023.
Legal Basis of
Appointment
His position as an Independent Commissioner became effective through the Decision of the Board
of Commissioners of the Financial Services Authority No. 13/KDK.06/2023 dated December 8, 2023,
regarding the Assessment Results of the Competence and Suitability of Fendy Eventius Mugni as an
Independent Commissioner.
Served as an Independent Commissioner of Mandiri Tunas Finance from June 28, 2023, until the
Term of Office
closing of the Annual General Meeting for the 2025 Financial Year (Third Term).
Concurrent Position Independent Commissioner of PT Hotel Indonesia Natour (Persero) (2015-Present).
• Independent Commissioner of PT Hotel Indonesia Natour (Persero) since 2015.
Professional Background • Country Manager of PT Eflag Solutions Indonesia from 2012 to 2014.
• Project Engineer at Nokia Siemens Networks Indonesia from 2006 to 2012.
Statement of
Declared his statement of independence on September 20, 2023.
Independence
Does not have any affiliation with members of the Board of Commissioners and the Board of
Affiliate Relationship
Directors.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
2023 Annual Report | PT Mandiri Tunas Finance 65
Page 66
Company
Profile
Profile of The Board of Directors
In 2023, there were no changes in the composition and membership of the Board
of Directors. According to the decision of Shareholders outside the Annual General
Meeting to convene the Annual General Meeting (Circular Resolution) based on
the Statement of Decision of the Annual General Meeting No. 137 dated June
28, 2023, Pinohadi G. Sumardi was reappointed for a second term as President
Director. Therefore, the composition of the Board of Directors as of December 31,
2023, is as follows:
1. President Director: Pinohadi G. Sumardi
2. Director: R. Eryawan Nurhariadi
3. Director: William Francis Indra
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03
PINOHADI G. SUMARDI
President Director
Place and Date of Birth/Age
Born in 1970, in Bandung
Age 53 as of December 2023
Nationality
Indonesian
Domicile
South Jakarta
• Master of International Business Finance from IPMI International Business School (2003)
Educational Background
• Bachelor of Finance Management from Universitas Padjadjaran (1993)
• Certified Financing Expert for Directors (SPPI)
Certifications • Certified Banking Risk Management (LSPP)
• Treasury Dealer Certification (ACI Forexindo)
• Economic Outlook 2023 Seminar on "Maintaining Economic Momentum Amid Uncertainty"
organized by CNBC Indonesia.
• National Seminar on "Micro Financing and Human Resources in the Era of Society 5.0"
Training in 2023
organized by the Indonesian Financial Services Association (APPI).
• International Seminar on "The Future of Digitalization in the Multifinance Industry" organized
by the Indonesian Financial Services Association (APPI).
Appointed as President Director of Mandiri Tunas Finance for the first time occurred during an
Extraordinary General Meeting (Circular Resolution) based on the Statement of Decision of
Shareholders No. 6 dated October 9, 2020.
His position as President Director became effective through a Copy of the Decision of the Board of
Commissioners of the Financial Services Authority No. KEP-368/NB.11/2020 dated November 10,
Legal Basis of
2020, regarding the Assessment Results of the Competence and Suitability of Pinohadi G. Sumardi
Appointment
as President Director.
He was reappointed for a second term as President Director of Mandiri Tunas Finance based on the
decision of Shareholders outside the Annual General Meeting to convene the Annual General
Meeting (Circular Resolution) according to the Statement of Decision of the Annual General Meeting
No. 137 dated June 28, 2023.
• From October 9, 2020, to the closing of the Annual General Meeting for the 2022 Financial Year
(First Term).
Term of Office
• From June 28, 2023, to the closing of the Annual General Meeting for the 2025 Financial Year
(Second Term).
Concurrent Position Does not hold any concurrent position within the Company and other institutions.
• Head of the International Network & Development Department at PT Bank Mandiri (Persero)
Tbk from 2019 to 2020.
• General Manager of the Cayman Islands Branch Office at PT Bank Mandiri (Persero) Tbk from
Professional Background 2012 to 2019.
• Head of the Banking Book Management Department at PT Bank Mandiri (Persero) Tbk from
2010 to 2012.
• Foreign Exchange Chief Dealer at PT Bank Mandiri (Persero) Tbk from 2004 to 2010.
Does not have any affiliation with members of the Board of Commissioners, the Board of Directors,
Affiliate Relationship
and shareholders.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
2023 Annual Report | PT Mandiri Tunas Finance 67
Page 68
Company
Profile
R. ERYAWAN NURHARIADI
Director
Place and Date of Birth/Age
Born in 1971, in Semarang
Age 52 as of December 2023
Nationality
Indonesian
Domicile
South Jakarta
• Master of Management from Universitas Atma Jaya Jakarta (2001)
Educational Background
• Bachelor of Management Economic from Universitas Atma Jaya Yogyakarta (1994)
• Financing Expert Certification for Directors (SPPI)
Certifications
• Banking Risk Management Certification (LSPP)
• National Seminar "Micro Financing and Human Resources in the Era of Society 5.0" organized
by the Indonesian Financial Services Association (APPI).
• International Seminar "The Future of Digitalization in the Multifinance Industry" organized by
Training in 2023
the Indonesian Financial Services Association (APPI).
• International Seminar "Multifinance Indonesia: Welcoming The Great Opportunities After
Pandemic" organized by the Indonesian Financial Services Association (APPI).
First appointed as a Director of Mandiri Tunas Finance was based on the decision of Shareholders
outside the Annual General Meeting to convene the Annual General Meeting (Circular Resolution)
according to the Statement of Decision of the Annual General Meeting No. 15 dated March 29, 2021.
Legal Basis of
Appointment His position as a Director became effective through a Copy of the Decision of the Board of
Commissioners of the Financial Services Authority No. KEP-44/KDK.05/2021 dated August 31, 2021,
regarding the Assessment Results of the Competence and Suitability of R. Eryawan Nurhariadi as a
Director.
March 29, 2021, until the closing of the Annual General Meeting for the 2023 Financial Year (First
Term of Office
Term).
Concurrent Position Does not hold any concurrent position within the Company and other institutions.
• Executive Business Officer, SME Banking Group, PT Bank Mandiri (Persero) Tbk (2018-2021).
• Supervisor Board, Mandiri Cooperation, PT Bank Mandiri (Persero) Tbk (2020-2021).
• Portfolio & Capability Management, SME Banking Group, Banking Department Head, PT Bank
Professional Background
Mandiri (Persero) Tbk (2015-2018).
• Sales & Monitoring Business Banking I, Group Department Head, PT Bank Mandiri (Persero)
Tbk (2008-2015).
Does not have any affiliation with members of the Board of Commissioners, the Board of Directors,
Affiliate Relationship
and shareholders.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
68 2023 Annual Report | PT Mandiri Tunas Finance
Page 69
03
WILLIAM FRANCIS INDRA
Director
Place and Date of Birth/Age
Born in 1982, in Karawang
Aged 41 as of December 2023
Nationality
Indonesian
Domicile
Tangerang
• Master of Management form Universitas Mercu Buana (2007)
Educational Background
• Bachelor of Mathematics from Universitas Padjadjaran (2004)
Certification Financing Expert Certification for Directors (SPPI)
• National Seminar on "Challenges of Financing in the Midst of Political Year" organized by the
Indonesian Financial Services Association (APPI).
• National Seminar on "Micro Financing and Human Resources in the Era of Society 5.0"
Training in 2023
organized by the Indonesian Financial Services Association (APPI).
• National Seminar on "Economic Outlook 2024" organized by the Indonesian Financial
Services Association (APPI).
Initial appointment as a Director of Mandiri Tunas Finance was made based on the decision of
Shareholders outside the Annual General Meeting to convene the Annual General Meeting (Circular
Resolution), as per the Statement of Decision of the Annual General Meeting No. 15 dated March 29,
2021.
Legal Basis of
Appointment
His position as a Director became effective through a Copy of the Decision of the Board of
Commissioners of the Financial Services Authority No. KEP-26/KDK.05/2021 dated July 6, 2021,
regarding the Assessment Results of the Competence and Suitability of William Francis Indra as a
Director.
March 29, 2021, until the closing of the Annual General Meeting for the 2023 Financial Year (First
Term of Office
Term)
Concurrent Position Does not hold any concurrent position within the Company and other institutions.
• Chief of PT Mandiri Tunas Finance (2016-2021).
Professional Background • Head of IT & Business Excellence Management Division, PT Mandiri Tunas Finance (2013-2016).
• Head of IT Operational & Planning Department, PT Mandiri Tunas Finance (2010-2013).
Does not have any affiliation with members of the Board of Commissioners, the Board of Directors,
Affiliate Relationship
and shareholders.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
2023 Annual Report | PT Mandiri Tunas Finance 69
Page 70
Company
Profile
Profile of Chief
B. PERANA CITRA KETAREN
Chief
Place and Date of Birth/Age
Born in 1977, in Bogor
Age 46 as of December 2023
Nationality
Indonesian
Domicile
Bogor
Educational Background Bachelor of Accounting Economic from Universitas Parahyangan Bandung (2001)
Certification Financing Expert Certification for Directors (SPPI)
• International Seminar "The Future of Digitalization in the Multifinance Industry" organized
by the Indonesian Financial Services Association (APPI).
Training in 2023
• National Seminar "Economic Outlook 2024" organized by the Indonesian Financial Services
Association (APPI).
Serving as Chief based on Board of Directors Decision No. 00099/SK-HCP.SVC/HC/VI/2023 dated June
In the Office Since
30, 2023.
Concurrent Position Does not hold any concurrent position within the Company and other institutions.
• Head of Finance & Accounting Division, PT Mandiri Tunas Finance (2015-2016).
• Head of AR Management Division, PT Mandiri Tunas Finance (2013-2014).
Professional Background
• Head of AR Performance & Development Department, PT Mandiri Tunas Finance (2010-2012).
• Project Manager in the Operational Field, PT Mandiri Tunas Finance (2009-2010).
Affiliate Relationship There is no affiliation with other Chiefs, Directors, Board of Commissioners members, or shareholders.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
70 2023 Annual Report | PT Mandiri Tunas Finance
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03
JOHANES BARUS
Chief
Place and Date of Birth/Age
Born in 1972, in Bukittinggi
Age 51 as of December 2023
Nationality
Indonesian
Domicile
East Jakarta
• Master of Management from Universitas Gadjah Mada Yogyakarta (2008)
Educational Background
• Bachelor of Accounting Economic from Universitas Sumatera Utara (1996)
• Certification in Financing Expert for Directors (SPPI)
Certification
• Certification in Banking Risk Management (LSPP)
• Economic Outlook 2023 Seminar "Maintaining Economic Momentum Amid Uncertainty"
organized by CNBC Indonesia.
• BARA Risk Forum on "Enterprise Risk Management (ERM) and Cyber Security – How to Mitigate
Training in 2023 and Protect" organized by BARA.
• International Seminar on "The Future of Digitalization in the Multifinance Industry" organized
by the Indonesian Financial Services Association (APPI).
• Webinar on "Leadership in a Changing Atmosphere" organized by the OJK Institute.
Serving as Chief based on Board of Directors Decision No. 00100/SK-HCP.SVC/HC/VI/2023 dated June
In the Office Since
30, 2023.
Concurrent Position Does not hold any concurrent position within the Company and other institutions.
• Senior Executive Vice President (SEVP) Risk & Operation at PT Bank Mandiri Taspen (2020-
2020).
• Executive Credit Officer at PT Bank Mandiri (Persero) Tbk (2018-2020).
Professional Background
• Chief Risk Officer at PT AXA Mandiri Financial Services (2015-2018).
• Audit Manager at Wholesale Banking Audit II, PT Bank Mandiri (Persero) Tbk (2013-2015).
• Head of Risk Management at Bank Mandiri Singapore (2011-2013).
Affiliate Relationship There is no affiliation with other Chiefs, Directors, Board of Commissioners members, or shareholders.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
2023 Annual Report | PT Mandiri Tunas Finance 71
Page 72
Company
Profile
AFRI FEDER FAUZI
Chief
Place and Date of Birth/Age
Born in 1981, in Jakarta
Age 42 as of December 2023
Nationality
Indonesian
Domicile
South Tangerang
Educational Background Bachelor of Business Administration from Universitas Brawijaya Malang (2004)
Certification Certification in Financing Expert for Directors (SPPI)
• Economic Outlook 2023 Seminar "Sustaining Economic Momentum Amid Uncertainty" hosted
by CNBC Indonesia.
• BARA Risk Forum on "Enterprise Risk Management (ERM) and Cyber Security – Strategies for
Training in 2023 Mitigation and Protection" organized by BARA.
• International Seminar on "The Future of Digitalization in the Multifinance Industry" conducted
by the Indonesian Financial Services Association (APPI).
• Webinar on "Leadership in a Changing Atmosphere" organized by the OJK Institute.
Serving as the Chief based on Board of Directors Decree No. 00101/SK-HCP.SVC/HC/VI/2023 dated
In the Office Since
June 30, 2023.
Concurrent Position Does not hold any concurrent position within the Company and other institutions.
• Strategic Marketing & Product Division Head PT Mandiri Tunas Finance (2018-2022)
• Marketing & Product Development Division Head PT Mandiri Tunas Finance (2015-2018)
Professional Background • Marketing & Product Development Deputy Division Head PT Mandiri Tunas Finance (2014-2015)
• Dealer Relation Management Department Head PT Mandiri Tunas Finance (2013-2014)
• Branch Manager PT Mandiri Tunas Finance (2012-2013)
Affiliate Relationship There is no affiliation with other Chiefs, Directors, Board of Commissioners members, or shareholders.
Share Ownership As of December 31, 2023, does not hold any shares in the Company.
72 2023 Annual Report | PT Mandiri Tunas Finance
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03
Division Head and/or Equivalent Position
Directorate Position (One Level Below the Board of Directors) Name
Under the Supervision of Corporate Audit Division Head Bayu Mario
President Director Corporate Secretary Division Head Arif Reza Fahlepi
Human Capital Division Head Makah Indra Purnomo
Chief Human Capital & HC Learning Division Head Dadan Hamdhani
Legal Legal Division Head Arief Aphrian Lambri
Credit Operation & General Service Division Head -
Retail Risk Management Division Head Indra Budi Laksana
Chief Risk Management
Corporate Risk Division Head Vitriati Hartika T
AR Management Division Head A Tatep Fathurohman
Chief AR Management & Fleet AR Management Division Head Rully Rianto F
Digital Recovery Management Division Head Wicaksono Adi
Strategic Digital Division Head -
Credit Management Division Head Ivan Ferdinand Thanta
Chief Credit Management
Corporate Credit Management Division Head Jekson Benardo Simanjuntak
Regional Division Head Regional 1 Puji Biso Santoso
Regional Division Head Regional 2 Joko Margono
Regional Division Head Regional 3 Mardi Fahmi
Regional Division Head Regional 4 Ari Paisal Rohman
Regional Division Head Regional 5 Wawan Yuliyanto
Under the Supervision of
Regional Division Head Regional 6 Sukandar
Director of Sales & IT
Regional Division Head Regional 7 Ronald Rajagukguk
Regional Division Head Regional 8 Gun Gun Wildan
Regional Division Head Regional 9 Irianto Musdiono
Operation Support Management Division Head Yeremias
Information Technology Division Head Kanda Octaviano
Strategic Marketing & Communication Division Head Camar Sativa
Marketing Division Head Andes Saputra
Chief Marketing
Multiguna Division Head Ruly Widyanto
Multiguna Advisor Division Head I Ketut Suwitra
Treasury & Finance Division Head Ramdhan Safitri
Under the Supervision of
Accounting, Tax & Financial Planning Division Head Rina Floriana Rustik
Director of Corporate Finance
& Business Strategy Corporate Planning & Performance Management Division
Citra Judith Lupitadevi
Head
Mandiri Liaison 1 Division Head Andre Tigor
Mandiri Liaison 2 Division Head Jarnawi
Chief Strategic Business
Corporate Fleet 1 Division Head Bragent Parlinggoman Tambunan
Corporate Fleet 2 Division Head Supriadi Waskito Susilo
2023 Annual Report | PT Mandiri Tunas Finance 73
Page 74
Company
Profile
Employee Demographics
Number of Employee for the Past 5 (Five) Years
(Person)
3.581
3.395
3.328
3.306
3.236
2019 2020 2021 2022 2023
74 2023 Annual Report | PT Mandiri Tunas Finance
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03
Number of Employees by Organizational Level/Positions
Organizational Level/ 2023 2022 Increase
Position M F Number % M F Number % (Decrease) (%)
Executive
Commissioner 3 0 3 0,09 3 0 3 0,09 0%
Director 3 0 3 0,09 3 0 3 0,09 0%
Chief 3 0 3 0,09 3 0 3 0,09 0%
Subtotal 9 0 9 0,27 9 0 9 0,27 0%
Committee/Supporting Organ 4 0 4 0,12 4 0 4 0,12 0%
Division Head 31 3 34 1,02 27 3 30 0,91 13%
Deputy Division Head 3 1 4 0,12 0 0 0 0 0%
Manager 226 69 295 8,86 209 55 264 7,99 12%
Supervisor 824 372 1.196 35,94 772 327 1.099 33,24 9%
Staff 1.218 568 1.786 53,67 1.310 590 1.900 57,47 -6%
Total 2.315 1.013 3.328 2.331 975 3.306
*) M=Male/F=Female
Number of Employee Based on Regional and Division
2023 2022 Increase
Working Location/Placement
M F Number % M F Number % (Decrease) (%)
Corporate Fleet 37 23 60 1,8 35 17 52 1,57 15,38%
Head Office 370 260 630 18,93 317 227 544 16,45 15,81%
Regional 1 159 52 211 6,34 177 52 229 6,92 -7,86%
Regional 2 288 82 370 11,12 314 87 401 12,12 -7,73%
Regional 3 234 89 323 9,71 236 90 326 9,86 -0,92%
Regional 4 203 100 303 9,1 204 102 306 9,25 -0,98%
Regional 5 181 78 259 7,78 188 72 260 7,86 -0,38%
Regional 6 203 65 268 8,05 206 68 274 8,28 -2,19%
Regional 7 269 104 373 11,21 266 105 371 11,22 0,54%
Regional 8 167 77 244 7,33 176 74 250 7,56 -2,40%
Regional 9 204 83 287 8,62 212 81 293 8,86 -2,05%
Total 2.315 1.013 3.328 2.331 975 3.306
*) M=Male/F=Female
2023 Annual Report | PT Mandiri Tunas Finance 75
Page 76
Company
Profile
Number of Employee Based on Educational Level
2023 2022 Increase
Educational Level
M F Number % M F Number % (Decrease) (%)
Doctorate 0 0 0 0 1 0 1 0,03 (100,00)
Master 35 15 50 1,50 31 12 43 1,30 16,00
Bachelor, Diploma IV 1.654 792 2.446 73,50 1.626 761 2.387 72,20 2,00
Diploma (D3,D2,D1) 349 188 537 16,14 370 185 555 16,79 (3,00)
High school and equivalent 277 18 295 8,86 303 17 320 9,68 (8,00)
Total 2.315 1.013 3.328 2.331 975 3.306
Number of Employee Based on Employment Status
2023 2022 Increase
Employment Status
M F Number % M F Number % (Decrease) (%)
Contract 339 178 517 15,53 280 149 429 12,98 20,51
Permanent 1.973 835 2.808 84,38 2.047 824 2.871 86,84 (2,19)
Probation 3 0 3 0,09 4 2 6 0,18 (50,00)
Total 2.315 1013 3.328 2.331 975 3.306
Number of Employee Based on Age Range
2023 2022 Increase
Age Range
M F Number % M F Number % (Decrease) (%)
> 50 Years Old 90 17 107 3,22 77 13 90 2,72 18,89
40-49 Years Old 701 146 847 25,45 652 124 776 23,47 9,57
30-39 Years Old 1.177 524 1.701 51,11 1.233 523 1.756 53,12 (2,97)
20-29 Years Old 347 326 673 20,22 369 315 684 20,69 (1,61)
< 20 Years Old 0 0 0 0 0 0 0 0 0
Total 2.315 1.013 3.328 2.331 975 3.306
Number of Employee Based on Tenure
2023 2022 Increase
Tenure
M F Number % M F Number % (Decrease) (%)
> 9 Years 1.018 459 1.477 44,38 878 404 1.282 38,78 15,21
5 - 9 Years 599 201 800 24,04 769 243 1.012 30,61 (20,95)
3 - 5 Years 282 108 390 11,72 353 132 485 14,67 (19,59)
1 - 3 Years 233 174 407 12,23 167 106 273 8,26 49,08
< 1 Years 183 71 254 7,63 164 90 254 7,68 0,00
Total 2.315 1.013 3.328 2.331 975 3.306
76 2023 Annual Report | PT Mandiri Tunas Finance
Page 77
03
Number of Employee Based on Gender/Sex
2023 2022 Increase
Gender
Number % Number % (Decrease) (%)
Male 2.315 69,56 2.331 70,51 (0,69)
Female 1.013 30,44 975 29,49 3,90
Total 3.328 3.306
Education and/or Training for The Board of Commissioners,
Board of Directors, Committees, Corporate Secretary,
Internal Audit and Risk Management
Type of Training Education and Training
Name and Position Place and Date Organizer
and Education Material
Board of Commissioners
National Seminar "The
Rico Adisurja Setiawan Jakarta,
Public Training New Era of Financing APPI
(President Commissioner) 06/06/2023
Industry"
Webinar "Leadership In Online,
Public Training OJK Institute
Changing Atmosphere" 24/08/2023
Totok Priyambodo International Seminar:
(Commissioner) Multifinance Indonesia:
Tokyo, Japan,
Public Training Welcoming The Great APPI
15/12/2023
Opportunities After
Pandemic
Ravik Karsidi
- - - -
(Independent Commissioner)*
Internal Briefing for Jakarta,
In-house Training MTF
Commissioners 24/08/2023
Fendy Eventius Mugni
(Independent Commissioner)** Commissioner
Jakarta,
Public Training Certification for Basic SPPI
30/08/2023
Financing
Board of Directors
Seminar Economic
Outlook 2023 "Sustaining Jakarta,
Public Training CNBC Indonesia
Economic Momentum 28/02/2023
Amid Uncertainty"
National Seminar
Pinohadi G Sumardi "Microfinance and Jakarta,
Public Training APPI
(President Director) Human Resources in the 03/03/2023
Era of Society 5.0"
International Seminar
"The Future Of Jakarta,
Public Training APPI
Digitalization In 01/08/2023
Multifinance Industry"
2023 Annual Report | PT Mandiri Tunas Finance 77
Page 78
Company
Profile
Type of Training Education and Training
Name and Position Place and Date Organizer
and Education Material
National Seminar
Jakarta,
Public Training "Challenges in Financing APPI
31/01/2023
Amid Political Year"
William Francis Indra National Seminar "Micro
Jakarta,
(Director) Public Training Financing and HR in the APPI
03/03/2023
Era of Society 5.0"
National Seminar Jakarta,
Public Training APPI
"Economic Outlook 2024" 03/10/2023
National Seminar "Micro
Jakarta,
Public Training Financing and HR in the APPI
03/03/2023
Era of Society 5.0"
International Seminar
"The Future Of Jakarta,
Public Training APPI
R. Eryawan Nurhariadi Digitalization In 01/08/2023
(Director) Multifinance Industry"
International Seminar:
Multifinance Indonesia:
Tokyo, Japan,
Public Training Welcoming The Great APPI
15/12/2023
Opportunities After
Pandemic
Chief
International Seminar
"The Future Of Jakarta,
Public Training APPI
Bonifatius Perana Citra Ketaren Digitalization In 01/08/2023
(Chief) Multifinance Industry"
National Seminar Jakarta,
Public Training APPI
"Economic Outlook 2024" 03/10/2023
Seminar Economic
Outlook 2023 "Sustaining Jakarta,
Public Training CNBC Indonesia
Economic Momentum 28/02/2023
Amid Uncertainty"
Bara Risk Forum "Erm
Online,
Public Training And Cyber Security - How BARA
Johanes Barus 26/07/2023
To Mitigate And Protect"
(Chief)
International Seminar
"The Future Of Jakarta,
Public Training APPI
Digitalization In 01/08/2023
Multifinance Industry"
Webinar "Leadership In Online,
Public Training OJK Institute
Changing Atmosphere" 24/08/2023
International Seminar
"The Future Of Jakarta,
Public Training APPI
Afri Feder Fauzi Digitalization In 01/08/2023
(Chief) Multifinance Industry"
National Seminar Jakarta,
Public Training APPI
"Economic Outlook 2024" 03/10/2023
78 2023 Annual Report | PT Mandiri Tunas Finance
Page 79
03
Type of Training Education and Training
Name and Position Place and Date Organizer
and Education Material
Audit Committee
The National Audit
Committee Conference
2023 on "Overseeing the
Marlan Marthias Achmad Jakarta,
Public Training Sustainability and IKAI
10/10/2023
Growth of the Company
Through Risk Oversight
and Control".
Nomination and Remuneration Committee
Internal Briefing for Jakarta,
In-house Training MTF
Commissioners 24/08/2023
Fendy Eventius Mugni
(Independent Commissioner)** Commissioner
Jakarta,
Public Training Certification for Basic SPPI
30/08/2023
Financing
Webinar "Leadership In Online,
Public Training OJK Institute
Changing Atmosphere" 24/08/2023
Totok Priyambodo International Seminar:
(Commissioner) Multifinance Indonesia:
Tokyo, Japan,
Public Training Welcoming The Great APPI
15/12/2023
Opportunities After
Pandemic
Risk Monitoring Committee
Irwan Trinugroho - - - -
Corporate Secretary
Webinar "Leadership In Online,
Public Training OJK Institute
Changing Atmosphere" 08/08/2023
Implementation of the
Jakarta,
In-house Training Personal Data Protection MTF & OJK
11/11/2023
Arif Reza Fahlepi Law.
(Corporate Secretary Division Head) Hari Iman
Anti fraud and Jakarta,
Public Training Wahyudi, S.psi,
Gratification 12/12/2023
Psikolog, Cht
Leadership For General Jakarta,
In-house Training Jakarta
Manager 12/12/2023
Audit Internal
Basic Financing Jakarta,
Public Training SPPI
Certification-Managerial 17/03/2023
2023 IIA Indonesia Jakarta,
Public Training IIA
National Conference 10/08/2023
Strengthening
Governance and Integrity
Reporting Financial &
Bayu Mario Practical Implementation Jakarta,
Public Training SOEs & FKSPI
(Corporate Audit Division Head) of Risk Management and 12/09/2023
Internal Audit in
State-Owned Enterprises
Forum.
In-house Training Audit Report Writing Jakarta, PT Asanka Kreasi
Methodology 11/11/2023 Mandiri
Leadership for General Jakarta,
In-house Training MTF
Manager 12/12/2023
2023 Annual Report | PT Mandiri Tunas Finance 79
Page 80
Company
Profile
Type of Training Education and Training
Name and Position Place and Date Organizer
and Education Material
Retail Risk Management
Certification in Risk
Management One Level Jakarta,
Public Training SPPI
Below the Board of 11/07/2023
Directors.
Indra Budi Laksana Credit Skills Accreditation Jakarta,
Public Training Moodys
(Retail Risk Management Division Training Program Batch 3 11/08/2023
Head) Implementation of the
Jakarta,
In-house Training Personal Data Protection MTF & OJK
11/11/2023
Law.
Leadership for General Jakarta,
In-house Training MTF
Manager 12/12/2023
Corporate Risk Management
Awareness Training of
Information Security
In-house Training 11/01/2023 MTF
Management System
based on ISO 27001:2022
Training of Internal Audit
In-house Training ISO 27001:2022 based on 12/02/2023 MTF
ISO 19011:2018
Certification in Risk
Vitriati Hartika Management One Level Jakarta,
(Corporate Risk Management Division Public Training SPPI
Below the Board of 11/07/2023
Head) Directors.
ERM And Cyber Security
Jakarta,
Public Training - How to Mitigate and BARA
18/07/2023
Protect
General Manager Jakarta,
In-house Training MTF
Development Program 12/12/2023
Leadership for General Jakarta,
In-house Training MTF
Manager 12/12/2023
80 2023 Annual Report | PT Mandiri Tunas Finance
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03
Structure and Composition of Shareholders
Composition of MTF Shareholders
January 1, 2023 December 23, 2023
Share Share
No Shareholder Number of Ownership Number of Ownership
Nominal (Rp) Nominal (Rp)
Shares Percentage Shares Percentage
(%) (%)
PT Bank
1 Mandiri 1.275.000.000 127.500.000.000 51,00 1.275.000.000 127.500.000.000 51,00
(Persero) Tbk
PT Tunas
2 1.225.000.00 122.500.000.000 49,00 1.225.000.000 122.500.000.000 49,00
Ridean
Total 2.500.000.000 250.000.000.00 100,00 2.500.000.000 2.500.000.000 100,00
Composition of Shareholders of Mandiri Tunas Finance
51%
49%
PT Bank Mandiri (Persero) Tbk PT Tunas Ridean
Information on the Shares Ownership of
Mandiri Tunas Finance by Key Management
Shares Ownership of Mandiri Tunas Finance by the Board of Commissioners and
Directors, Directly or Indirectly
Board of Commissioners and Indirect Ownership of MTF
Position Direct Ownership of MTF Shares
Board of Directors Shares
Board of Commissioners
President
Rico Adisurja Setiawan None None None None
Commissioners
Totok Priyambodo Commissioner None None None None
Fendy Eventius Mugni Commissioner None None None None
Board of Directors
Pinohadi G. Sumardi President Director None None None None
William Francis Indra Director None None None None
R. Eryawan Nurhariadi Director None None None None
*) None = Doesn't hold MTF shares
2023 Annual Report | PT Mandiri Tunas Finance 81
Page 82
Company
Profile
Information on the Ownership of Mandiri Tunas Finance Shares by Key Management
The Main Shareholder/Controlling Shareholder of the Company is PT Bank Mandiri (Persero) Tbk, which owns 51.00%
of the Company’s shares. Meanwhile, PT Tunas Ridean Tbk owns 49.00% of the Company’s shares. Below is the share
ownership structure up to the ultimate parent entity.
Shareholder Structure
Government of PT Tunas
Jardine Cycle & Other
the Republic of Public Andalan PT Tunas Ridean
Carriage Ltd Shareholders
Indonesia Pratama
52,00% 48,00% 46,24% 46,24% 7,50% 0,02%
PT Bank Mandiri
PT Tunas Ridean
(Persero) Tbk
51,00% 49,00%
PT Mandiri Tunas Finance
PT Bank Mandiri (Persero) Tbk
PT Bank Mandiri (Persero) Tbk, later called as ‘Bank Mandiri’, was established on October 2, 1998, in the Republic of
Indonesia under Notarial Deed No. 10 by Notary Sutjipto, S.H., based on Government Regulation No. 75 of 1998 dated
October 1, 1998. Bank Mandiri was established through the merger or consolidation of 4 (four) state-owned banks,
namely PT Bank Bumi Daya (Persero), PT Bank Dagang Negara (Persero), PT Bank Ekspor Impor (Persero), and PT Bank
Pembangunan Indonesia (Persero). On July 14, 2003, Bank Mandiri conducted its Initial Public Offering (IPO) with the stock
code ‘BMRI’ amounting to 20% or equivalent to 4 billion shares.
Supported by experience and seasoned capabilities in providing banking services, particularly in the corporate credit
segment, Bank Mandiri remains trusted as one of the largest state-owned (BUMN)banks in Indonesia in terms of total
assets, loans, and deposits.
As a state-owned bank operating in the midst of the world’s largest population, and in line with its long-term aspiration
for 2020 - 2024 to be “Your Preferred Financial Partner,” Bank Mandiri consistently focuses on two key aspects
• Bank Mandiri is committed to establishing long-term relationships built on trust with both business and individual
customers. Serving all customers with international service standards through innovative financial solutions, Bank
Mandiri aims to be recognized for its performance, human resources, and top-notch teamwork.
• Bank Mandiri takes an active role in fostering Indonesia’s long-term growth and consistently delivers high returns
for shareholders.
82 2023 Annual Report | PT Mandiri Tunas Finance
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03
To achieve this, Bank Mandiri consistently enhances its position and capabilities in the National banking industry by
paying a meticulous attention to rapid technological developments, the increasingly dynamic needs of customers, and
the demographic characteristics of the Indonesian population.
General Information of PT Bank Mandiri (Persero) Tbk
Company Name PT Bank Mandiri (Persero) Tbk
Date of Establishment October 2, 1998
Line of Business Banking
Share Issuance Indonesia Stock Exchange, July 14, 2003, ticker code "BMRI."
• 1 Head Office
• 139 Branch Offices
• 10 Subsidiaries and 5 Subsidiary Entities (including 1 Grandchild Entity)
Business Network
• 2,104 Sub-branches
• 12,906 ATMs
• 7 Overseas Offices (5 Branch Offices and 2 Subsidiaries)
Number of Employee 38.940 employees (2023)
• Number of Assets 2.174.219.449
Financial Performance • Number of Customer Deposits 225.501.470
as of December 31, 2023 • Number of Equity 287.494.962
(In million Rupiah) • Number of Net Interest Revenue and Sharia 98.009.620
• Number of Net Profit for the Year 60.051.870
Plaza Mandiri
Jl. Jenderal Gatot Subroto Kav. 36-38
Jakarta 12190 Indonesia
Address of Head Office
Telp: +6221 5265045
Fax: +6221 5274477, 527557
Email: corporate.communication@bankmandiri.co.id
Website www.bankmandiri.co.id
Structure of the Board of Commissioners and the Board of Directors of PT Bank Mandiri (Persero) Tbk
as of December 31, 2023
Board of Commissioners
President Commissioner/Independent Commissioner Muhamad Chatib Basri
Vice President Commissioner/Independent Commissioner Andrinof A. Chaniago
Independent Commissioner Loeke Larasati Agoestina
Independent Commissioner Muliadi Rahardja
Independent Commissioner Heru Kristiyana
Independent Commissioner Zainudin Amali
Commissioner Rionald Silaban
Commissioner Arif Budimanta
Commissioner Faried Utomo
Commissioner Nawal Nely
Commissioner Muhammad Yusuf Ateh
Board of Directors
President Director Darmawan Junaidi
Vice President Director Alexandra Askandar
Director of Risk Management Ahmad Siddik Badruddin
2023 Annual Report | PT Mandiri Tunas Finance 83
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Company
Profile
Board of Directors
Director of Compliance and Human Resource Agus Dwi Handaya
Director of Commercial Banking Riduan
Director of Banking Network and Retail Aquarius Rudianto
Director of Operation Toni E. B. Subari
Director of Corporate Banking Susana Indah Kris Indriati
Director of Institutional Relationship Rohan Hafas
Director of Finance and Strategy Sigit Prastowo
Director of Information Technology Timothy Utama
Director of Treasury and International Banking Eka Fitria
PT Tunas Ridean
PT Tunas Ridean, later called “Tunas Group,” is the founding shareholder of the Company. Tunas Group is a family-
owned company named Tunas Indonesia Motor, which has been operating since 1967. In 1980, Tunas Group integrated
all business units into one parent company, PT Tunas Ridean. The company then went public on the Indonesia Stock
Exchange (IDX) in 1995 through an Initial Public Offering with the stock code “TURI”.
In 2012, Tunas Group expanded its network of automotive sales outlets and after-sales services through the acquisition
of the official Isuzu brand dealer PT Rahardja Ekalancar, now known as Tunas Isuzu. In November 2014, PT Tunas Dwipa
Matra, together with a third party, established PT Asia Surya Perkasa, the main Honda motorcycle dealer for the Bangka
Belitung region.
Nowadays, Tunas Group has become the largest independent automotive group with 160 outlets spread across Indonesia.
Tunas Group operates a network of sales outlets and after-sales services for well-established automotive brands through
PT Tunas Ridean (Tunas Toyota), PT Tunas Mobilindo Perkasa (Tunas Daihatsu and Tunas Peugeot), PT Tunas Mobilindo
Parama (Tunas BMW), and PT Tunas Dwipa Matra, the main Honda motorcycle dealer for the Lampung region. The
Company, through PT Tunas Aset Sarana (Tunas Used Car), also provides sales services for BMW Premium Selection used
cars.
In addition, Tunas Group operates vehicle rental services and short-term and long-term fleet management through PT
Surya Sudeco (Tunas Rent). PT Surya Sudeco established a manpower services company named PT Mitra Asri Pratama
and an auction house named PT Mega Armada Sudeco.
In mid-2022, Tunas Group made the decision to go private and voluntarily delist from the Indonesia Stock Exchange (IDX).
PT Tunas Ridean officially became a private company on April 6, 2023.
General Information on PT Tunas Ridean
Company Name PT Tunas Ridean
Date of Establishment July 24, 1980
Line of Business Agency, Channel, Industry, Commercial, and Transportation
Share Issuance Indonesia Stock Exchange, May 16, 1995, ticker code "TURI"
Business Network 161 outlets spread across Indonesia
Number of Employee 4.249 employees
• Total Assets Rp9.463.450.744.732
Financial Performance as of
• Total Equity Rp5.437.228.383.067
December 31, 2023
• Total Net Revenue Rp18.888.289.266.250
(In million Rupiah)
• Total Net Profit for the Year Rp1.202.336.990.112
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03
Jl. Raya Pasar Minggu No.7 Jakarta 12740, Indonesia
Telp: +6221 794 4788, 799 5621
Address of Head Office
Fax: +6221 150 0798
Email: info@tunasgroup.com
Website www.tunasgroup.com
Structure of the Board of Commissioners and the Board of Directors of PT Tunas Ridean as of
December 31, 2023
Board of Commissioners
President Commissioner Anton Setiawan
Commissioner Hong Anton Leoman
Commissioner Wilfrid Foo Tsu-Jin
Commissioner Alfredo Chandra
Board of Directors
President Director Rico Adisurja Setiawan
Director Nugraha Indra Permadi
Director Andrew Ling
Director Tenny Febyana Halim
Director Ester Tanudjaja
Chronology of Stock Issuance
Until the end of 2023, the Company did not list its shares on the stock market. The Company became a listed company as
an issuer because it issued bonds. Therefore, there is no information provided about the chronology of stock issuance
and listing.
Chronology of Other Security Issuance
Since 2003, MTF has issued bonds several times, with the funds being used entirely to strengthen the funding structure
in support of motor vehicle financing activities. Despite receiving full support for funding facilities, especially Joint
Financing from PT Bank Mandiri (Persero) Tbk, the Company continues to diversify its funding to support its business
performance. In addition, the issuance of Bonds also aims to maintain good relations with investors and preserve the
Company’s existence as a leading financing company in Indonesia.
In 2023, the Company issued the Public Offering of Mandiri Tunas Finance VI Continuing Bonds Phase I 2023 and the Public
Offering of Mandiri Tunas Finance VI Continuing Bonds Phase II 2023. The table below shows the outstanding bonds and
those still unpaid as of December 31, 2023. All bonds issued by the Company were carried out through the Indonesia
Stock Exchange (IDX). Besides the bonds listed below, the Company did not issue any other securities.
2023 Annual Report | PT Mandiri Tunas Finance 85
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Company
Profile
The list of bonds issued by Mandiri Tunas Finance and still outstanding in 2023
Issue Amount Interest
Interest Date of
Year Name of Bond Credit (Rp Payment Due Date Status
Rate Issuance
Rank million) Frequency
Continuing
Bond IV MTF January 8, January 8, Active/
idAA+ 200.000 9,75% p.a Quarterly
Phase I Series 2019 2024 Outstanding
B
2019
Continuing
Bond IV MTF Active/
idAA+ 658.000 9,50% p.a Quarterly July 26, 2019 July 26, 2024
Phase II Series Outstanding
B
Continuing
Paid as of
Bond V MTF August 13, August 13,
idAA+ 472.000 8,00% p.a Quarterly August 10,
Phase I Series 2020 2023
2023
A
2020
Continuing
Bond V MTF August 13, August 13, Active/
idAA+ 386.000 8,60% p.a Quarterly
Phase I Series 2020 2025 Outstanding
B
Continuing
Bond V MTF Active/
idAA+ 915.150 7,00% p.a Quarterly May 20, 2021 May 20, 2024
Phase II Series Outstanding
A
2021
Continuing
Bond V MTF Active/
idAA+ 485.700 7,65% p.a Quarterly May 20, 2021 May 20, 2026
Phase II Series Outstanding
B
Continuing
Bond V MTF February 23, February 23, Active/
idAA+ 851.440 5,90% p.a Quarterly
Phase III 2022 2025 Outstanding
Series A
2022
Continuing
Bond V MTF February 23, February 23, Active/
idAA+ 376.615 6,75% p.a Quarterly
Phase III 2022 2027 Outstanding
Series B
Continuing
Bond VI MTF Active/
idAAA 439.660 6,00% p.a Quarterly July 11, 2023 July 11, 2026
Phase I Series Outstanding
A
Continuing
Bond VI MTF Active/
idAAA 252.075 6,25% p.a Quarterly July 11, 2023 July 11, 2028
Phase I Series Outstanding
B
2023
Continuing
Bond VI MTF 804.175 September 27, September 27, Active/
idAAA 6,50% p.a Quarterly
Phase II Series 2023 2026 Outstanding
A
Continuing
Bond VI MTF September 27, September 27, Active/
idAAA 326.935 6,75% p.a Quarterly
Phase II Series 2023 2028 Outstanding
B
Note: The rating results are ratings assigned to bonds at the initial registration of bonds conducted by PEFINDO.
86 2023 Annual Report | PT Mandiri Tunas Finance
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03
Information about the Group Structure and Business
Segments, Subsidiaries, Associates, as well as Joint
Venture (JV) and Special Purpose Vehicle (SPV)
By of 2023, Mandiri Tunas Finance does not have a group structure and business segments, subsidiaries, associates,
equity investments, joint ventures (JVs), special purpose vehicles (SPVs), or operational cooperation (KSO). Thus, there
is no information available regarding the names of subsidiaries and/or associates, percentage of share ownership,
description of the business fields of subsidiaries and/or associates, and operational status of subsidiaries and/or
associates. Additionally, the Company also does not have a group structure and business segments.
Public Accountant
The Board of Commissioners is authorized to initiate the selection process of the External Auditor in accordance with the
Company’s procurement regulations. Approval was obtained during the Annual General Meeting held on June 28, 2023,
to appoint Purwantono, Sungkoro & Surja Public Accountants (a member firm of Ernst & Young Global Limited) as the
external party to audit the Company’s financial statements for the fiscal year ending December 31, 2023. The Board also
set the amount of honorarium in accordance with applicable regulations, provided that the appointed public accountant
is registered with and approved by the Financial Services Authority (OJK).
Public Accounting Firms (KAP) and Auditors for the Last 5 Years
Name of
Year Public Accounting Firm Provided Service Fee (Rp) Opinion
Accountant
Danil Setiadi
Purwantono, Sungkoro & General audit of the
Handaja, CPA Free from material
2023 Surja (EY) financial statements for 1.132.200.000
No Izin misstatement
STTD.KAP-03/PM.22/2018 the fiscal year 2023.
AP.1008
Purwantono, Sungkoro & General audit of the
Yovita No. Izin Free from material
2022 Surja (EY) No. Izin KMK financial statements for 1.048.950.000
AP.0242 misstatement
No. 603/KM.1/2015 the fiscal year 2022.
Purwantono, Sungkoro & General audit of the
Yovita No. Izin Free from material
2021 Surja (EY) No. Izin KMK financial statements for 998.000.000
AP.0242 misstatement
No. 603/KM.1/2015 the fiscal year 2021.
Purwantono, Sungkoro & General audit of the
Yovita No. Izin Free from material
2020 Surja (EY) No. Izin KMK financial statements for 950.000.000
AP.0242 misstatement
No. 603/KM.1/2015 the fiscal year 2020.
Danil Setiadi
Purwantono, Sungkoro & General audit of the
Handaja, CPA Free from material
2019 Surja (EY) No. Izin KMK financial statements for 930.000.000
No. Izin misstatement
No. 603/KM.1/2015 the fiscal year 2019.
AP.1008
Other Services and Public Accounting Firms (KAP)/Public Accountant in 2023
In 2023, the company appointed Public Accounting Firm (KAP) Purwantono, Sungkoro & Surja to issue a Comfort Letter
for the issuance of Sustainable Bond VI. This service was agreed upon at a cost of Rp965,700,000 (after tax) with Contract
Number 083/SPK-PROC/MTF/III/2023.
2023 Annual Report | PT Mandiri Tunas Finance 87
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Company
Profile
Supporting Institutions and Professions
Commercial and Stock Issuance
Name PT Bursa Efek Indonesia (BEI)
Indonesia Stock Exchange Building
Jl. Jend. Sudirman Kav. 52-53.
Jakarta 12190, Indonesia
Address
Tel: +62 21 515 0515
Email: callcenter@idx.co.id
Website: www.idx.co.id
Trading Information
Services Provided
Annual Listing Fee for Stocks
Period of Assignment Year 2023
Kustodian
Name PT Kustodian Sentral Efek Indonesia (KSEI)
Indonesia Stock Exchange Building
Tower 1, 5th Floor
Jl. Jend. Sudirman Kav. 52-53.
Jakarta 12190
Address
Phone: +62 21 5299 1099
Fax: +62 21 5299 1199
Email: helpdesk@ksei.co.id
Website: www.ksei.co.id
Providing services to administer securities issued by service providers for securities custody and
Services Provided
transaction settlement as well as distributing corporate action proceeds.
Period of Assignment Year 2023
Corporate Rating Provider
Name PT Fitch Rating
DBS Bank Tower, 24th Floor Suite 2403
Address Jl. Prof. Dr. Satrio Kav. 3-5
Jakarta 12940
Services Provided Providing an assessment or rating for the Company
Period of Assignment Year 2023
Trustee
PT Bank Rakyat Indonesia (Persero) Tbk
Name
Divisi Investment Services Bagian Trust & Corporate Services
BRI II Building, 6th Floor
Address Jl. Jend. Sudirman Kav. 44-46
Jakarta 10210
Services Provided Representing the interests of Bondholders
Period of Assignment Year 2023
Securities Rating Agency
Name PT Pemeringkat Efek Indonesia (Pefindo)
Panin Tower Senayan City 17th Floor
Address Jl. Asia Afrika Lot. 19
Jakarta 10270
Services Provided Memberikan penilaian atau pemeringkat terhadap Obligasi yang diterbitkan Perseroan
Period of Assignment Year 2023
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03
Underwriter of Securities Issuance
Name PT Mandiri Sekuritas
Menara Mandiri Tower I
Floor 25
Address
Jl. Jend. Sudirman Kav. 54-55
Jakarta 12190
Services Provided Responsible for conducting Public Offerings
Period of Assignment Year 2023
Underwriter of Securities Issuance
Name PT Trimegah Sekuritas Indonesia Tbk
Artha Graha Building Floors 18 and 19
Address Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190
Services Provided Responsible for conducting Public Offerings
Period of Assignment Year 2023
Underwriter of Securities Issuance
Name PT BRI Danareksa Sekuritas
BRI II Building 23rd Floor
Address Jl. Jend. Sudirman Kav. 44-46
Jakarta 10210
Services Provided Responsible for conducting Public Offerings
Period of Assignment Year 2023
Notary
Name Notaris & PPAT Ir. Nanette Cahyanie Handari Adi Warsito, S.H.
Jl. Panglima Polim V No. 11
Address
Kebayoran Baru, South Jakarta 12160
Services Provided The preparation of agreements required in conducting the Continuous Public Offering of Bonds.
Period of Assignment Year 2023
Law Consultant
Name BM & Partners - Poernomo Idna Yashinta, S.H.
Address Wisma Haroen, Jalan Raya Pasar Minggu No. 2A, South Jakarta
Conducting legal due diligence on company documents, preparing a comprehensive due diligence
Services Provided
report, and providing legal opinions for the organization of Continuous Public Offering of Bonds.
Period of Assignment Year 2023
2023 Annual Report | PT Mandiri Tunas Finance 89
Page 90
Company
Profile
Company Website
According to Financial Services Authority (OJK) Regulation No. 8/POJK.04/2015 concerning Issuer or Public Company
Websites, the Company has provided a website in both Indonesian and English, easily accessible to all stakeholders.
The Company maintains an official website at www.mtf.co.id, divided into two platforms: a product and services website
at www.mtf.co.id managed by marketing, and a corporate website at www.mtf.co.id/corporate managed by the Corporate
Secretary.
The existence of MTF’s website reflects its commitment to transparency and the implementation of Good Corporate
Governance (GCG) principles, allowing stakeholders to access various information related to the Company. Additionally,
the website provides information about the Company’s products and services. The information on the website is regularly
updated.
90 2023 Annual Report | PT Mandiri Tunas Finance
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03
Corporate Website Navigation Mandiri Tunas Finance www.mtf.co.id/korporat
Menu Scope of Content
• MTF History
• Company Organizational Structure
• Share Ownership Structure
• Company Group Structure
Corporate Information • Management
• Supporting Professions
• Articles of Association
• Financing Products
• Awards
• Governance Practices
• GCG Charter
• Corporate Code of Conduct
• Audit Committee Charter
• Employee Code of Conduct
Corporate Governance
• Committee Work Guidelines
• Audit Committee Members
• Nomination and Remuneration Procedures
• Risk Management Policy
• Policy on Reporting Violations Mechanisms
• Prospectus
• Annual Report
• Sustainability Report
• Financial Statements
Investor Information • Rating Reports
• General Meetings of Shareholders (RUPS)
• Bond Information
• Dividend Information
• Disclosure Information
Branch Network Channel to view MTF's business network coverage spread across Indonesia
• Corporate Activity News
• CSR News
News and CSR
• Video Gallery
• Media Coverage
The microsite with the address www.karir.mtf.co.id provides information about job vacancies within
Career
the Company.
The channel to send web-based messages to the Company is through the website's contact form or
Contact Us
messaging feature.
The Table for Information on the Company's Website According to Regulation No. 8/POJK.04/2015
Availability in
No Scope of Information
the MTF Website
1 Shareholder Information up to Ultimate Individual Owner √
2 Code of Conduct Guidelines √
Information on the General Meeting of Shareholders (GMS) should include at least the agenda items
discussed during the GMS, a summary of the GMS minutes, and key dates such as the announcement date
3 √
of the GMS, the GMS convening date, the GMS date, and the date the summary of the GMS minutes is
announced.
4 Separate Annual Financial Reports (for the last 5 years) √
5 Annual Reports More Than the Past 5 Years √
6 Profile of the Board of Commissioners and the Board of Directors √
Charter of the Board of Commissioners, Board of Directors, Committees, Code of Conduct Guidelines,
7 √
Office Addresses, WBS Informations
8 Investor Information √
9 News and CSR √
2023 Annual Report | PT Mandiri Tunas Finance 91
Page 92
Company
Profile
Regions of Operation
1 8
NAD
Medan I Tanjung Pinang
Sumatera Utara
Kepulauan Riau
Riau
2
4 Kalimantan Utara
3 Kalimantan Barat
Kalimantan Timur
Sumatera Barat Jambi
Balikpapan
Bangka Belitung Kalimantan Tengah
5
Palembang I
Bengkulu
Sumatera Selatan
6 Kalimantan Selatan
Lampung
7
1 REGIONAL 1 Duren Tiga
SUMATERA BSD
• MTF Medan I DKI Jakarta Jawa Tengah
• MTF Medan II
Bandung I
• MTF Medan Multiguna Banten Semarang
Surabaya II Nusa
• MTF Rantau Prapat
Tenggara
• MTF Batam Jawa Barat Barat
• MTF Batam Multiguna D.I. Yogyakarata
• MTF Tanjung Pinang
• MTF Pekanbaru I
• MTF Pekanbaru II Jawa Timur
• MTF Pekanbaru Multiguna Bali
• MTF Duri
2 REGIONAL 2 3 REGIONAL 3 4 REGIONAL 4 5 REGIONAL 5
SUMATERA JAWA JAWA JAWA
• MTF Padang • MTF Pecenongan • MTF Matraman • MTF Karawang
• MTF Padang Multiguna • MTF Kelapa Gading • MTF Fatmawati • MTF Sukabumi
• MTF Bukittinggi • MTF Tanjung Duren • MTF Lebak Bulus • MTF Bandung I
• MTF Jambi • MTF Kebon Jeruk • MTF Durentiga II • MTF Bandung II
• MTF Jambi Multiguna • MTF Kebon Jeruk Multiguna • MTF Durentiga Captive • MTF Bandung III
• MTF Muara Bungo • MTF Kemayoran • MTF Bekasi • MTF Tasikmalaya
• MTF Bengkulu • MTF Pluit • MTF Bekasi Multiguna • MTF Cirebon
• MTF Palembang I • MTF Cilegon • MTF Depok • MTF Garut
• MTF Palembang II • MTF Serang • MTF Cibinong • MTF Karawang Multiguna
• MTF Palembang Multiguna • MTF Tangerang • MTF Bogor • MTF Bandung Multiguna
• MTF Baturaja • MTF BSD • MTF Cibubur • MTF Subang
• MTF Lubuklinggau • MTF Bintaro • MTF Cikarang
• MTF Bandar Lampung • MTF Lebak (Rangkasbitung) • MTF Pondok Gede
• MTF Lampung Multiguna • MTF BSD Multiguna
• MTF Bandarjaya • MTF Serang Multiguna
• MTF Pangkal Pinang
92 2023 Annual Report | PT Mandiri Tunas Finance
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03
Regional Office
• Regional 1 - MTF Medan
• Regional 2 - MTF Palembang
• Regional 3 - MTF BSD
• Regional 4 - MTF Duren Tiga II
• Regional 5 - MTF Bandung I
• Regional 6 - MTF Semarang
9
• Regional 7 - MTF Surabaya II
• Regional 8 - MTF Balikpapan
• Regional 9 - MTF Makassar
Sulawesi Utara
Gorontalo Maluku Utara Fleet Office
• Fleet Makassar
Papua Barat Daya
Sulawesi Tengah
Papua
Sulawesi Barat
Papua Barat
Sulawesi Selatan Sulawesi Tenggara Papua Pegunungan
Maluku
Papua Tengah
Makassar I
Papua Selatan
Nusa Tenggara Timur
7 9
6 REGIONAL 7 8 REGIONAL 9
REGIONAL 6 JAWA, BALI, & REGIONAL 8 SULAWESI, PAPUA, &
JAWA NUSA TENGGARA KALIMANTAN MALUKU
• MTF Tegal • MTF Surabaya I • MTF Pontianak • MTF Makassar I
• MTF Purwokerto • MTF Surabaya II • MTF Sintang • MTF Makassar II
• MTF Semarang • MTF Malang • MTF Banjarmasin • MTF Parepare
• MTF Ungaran • MTF Kediri • MTF Banjarbaru • MTF Kendari
• MTF Semarang Multiguna • MTF Jember • MTF Palangkaraya • MTF Manado
• MTF Solo • MTF Madiun • MTF Kotawaringin (Sampit) • MTF Kotamobagu
• MTF Solo Multiguna • MTF Tuban • MTF Samarinda • MTF Palu
• MTF Kudus • MTF Mojokerto • MTF Balikpapan • MTF Luwuk
• MTF Magelang • MTF Gresik • MTF Tarakan • MTF Mamuju
• MTF Pekalongan • MTF Banyuwangi • MTF Samarinda Multiguna • MTF Gorontalo
• MTF Yogyakarta • MTF Denpasar • MTF Banjarmasin Multiguna • MTF Sorong
• MTF Yogyakarta Multiguna • MTF Gianyar • MTF Bontang • MTF Jayapura
• MTF Surabaya Multiguna • MTF Ketapang • MTF Ambon
• MTF Malang Multiguna • MTF Makassar Multiguna
• MTF Denpasar Multiguna • MTF Manado Multiguna
• MTF Mataram
• MTF Kupang
2023 Annual Report | PT Mandiri Tunas Finance 93
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Company
Profile
Branch Office Address
Province Name of Branch Current Address Phone
Jalan Ring Road,Kel. Tanjung Sari,Kec. Medan Selayang,Kab.
Medan Medan,Provinsi Sumatera Utara Selayang Kota Medan Kodepos 20132 (061) 8220915
(samping Hotel Sahara Viesta), 20232
Jalan H. Adam Malik, Kelurahan Sekip, Kecamatan Medan Petisah, Kota
Medan II (061) 4151818
Medan, Provinsi Sumatera Utara
North Sumatera
Jl. H. Adam Malik No. 19, Sekip, Kecamatan Medan Petisah, Kota Medan,
Medan Multiguna
Sumatera Utara 20236
Jalan Ahmad Yani, Komplek Pertokoan dan Perkantoran Suzuya Mall,
Rantau Prapat Kel. Bakaran Batu, Kec. Rantau Selatan, Kab.Labuhanbatu, Rantauprapat, (0624) 7671497
Propinsi Sumatera Utara
JL. S Parman No 236 A, Kel. Ulak Karang Barat, Kec. Padang Utara,
Padang (0751) 4488972
Padang, Propinsi Sumatera Barat
Jl. By Pass, Kelurahan Aur Kuning, Kecamatan Aur Birugo Tigo Baleh,
West Sumatera Bukittinggi (0752) 7839132
Kota Bukittinggi, Provinsi Sumatera Barat
Padang Jl. S. Parman No. 236A, Ulak Karang, Kelurahan Ulak Karang Utara, Kec.
Multiguna Padang Utara, Kota Padang, Provinsi Sumater Barat
Jl. Arifin Ahmad, Komplek Platinum Bisnis Center No 25-26, RT 003/RW
Pekanbaru 011, Kelurahan Sidomulyo Timur, Kecamatan Marpoyan Damai, (0761) 63442
Pekanbaru, Provinsi Riau 28294
Jl. Komplek Ruko Royal Platinum Arengka II Nomor 89, Kelurahan
Riau Pekanbaru II (0761)7415380
Simpang Baru, Kecamatan Tampan, Pekanbaru, Riau
Jl. Hang Tuah, RT 001/ RW 018, Kel. Air Jamban, Kec. Mandau, Kab.
Duri (0765) 595155
Bengkalis, Riau
Jl. Arifin Ahmad No. 25-26, Kompleks Platinum Bisnis Center, Kelurahan
Pekanbaru
Marpoyan Damai, Kecamatan Sidomulyo Timur, Kota Pekanbaru,
Multiguna
Provinsi Riau
Jl. Gajah Mada No.85, RT 022/RW 006, Kelurahan Jelutung, Kecamatan
Jambi (0741)7550022
Jelutung, Kota Jambi
Jambi Jl Lintas Sumatera Kilo Meter 0, Kel Batang Bungo, Kec Pasar Muara
Muaro Bungo (0747) 323782
Bungo, Kab Bungo, Provinsi Jambi
Jl. Gajah Mada No. 85, RT 022 RW 006, Kel. Jelutung, Kec. Jelutung, Kota
Jambi Multiguna
Jambi, Provinsi Jambi
Komplek Ruko Centre Park, Blok A No : 13, Kel. Taman Baloi, Kec. Batam
Batam (0778) 464354
Kota, Provinsi Kepulauan Riau
Ruko Grand Bintan Center
Kepulauan Riau
Tanjung Pinang Jl. DI Panjaitan KM 9, Kelurahan Air Raja, Kecamatan Tanjungpinang (0771) 7335756
Timur, Kota Tanjungpinang, Provinsi Kepulauan Riau.
Ruko Centre Park Blok A Nomor 13, RT 001 RW 011, Kelurahan Taman
Batam Multiguna
Baloi, Kecamatan Batam Kota, Kota Batam, Provinsi Kepulauan Riau
Jl. Pangeran Natadirja KM. 6,5 No. 29 RT. 02 RW. 01 Kelurahan Jalan
Bengkulu Bengkulu (0736) 347710
Gedang, Kecamatan Gading Cempaka, Bengkulu
Kelurahan 8 Ilir, Kecamatan Ilir Timur II, Kota Palembang, Provinsi
Palembang (0711) 379724
Sumatera Selatan
Jl. Radial Komplek Ruko Transmart RT.21 RW.05, Kelurahan Dua Puluh
(071 1)
Palembang II Empat Ilir, Kecamatan Bukit Kecil, Kota Palembang, Provinsi Sumatera
1772-976
Selatan
South Sumatera Jl. Dr. M. Hatta No. 1067 RT 18/05, Kel. Kemalaraja, Kec. Baturaja Timur,
Baturaja (0735) 322026
Kab. Ogan Komering Ulu, Prov. Sumatera Selatan
Jl. Yos Sudarso No. 90, Kelurahan Majapahit, Kecamatan Lubuklinggau
Lubuk Linggau (0733) 732 9631
Timur/ I, Lubuklinggau, Sumatera Selatan
Palembang Jl. R. Sukamto Kompleks Ruko PTC Mall Blok G No. 31, Kelurahan 8 Ilir,
Multiguna Kecamatan Ilir Timur II, Kota Palembang, Provinsi Sumatera Selatan
94 2023 Annual Report | PT Mandiri Tunas Finance
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03
Branch Office Address
Province Name of Branch Current Address Phone
Jl. Pangeran Antasari RT 009/RW 02, Kelurahan Jagabaya III, Kecamatan
Bandar Lampung (0721) 773557
Way Halim, Kota Bandar Lampung
Jl. raya Protokol- Bandar Jaya, Kelurahan Bandar Jaya Timur, Kecamatan
Lampung
Bandarjaya Terbanggi Besar, Kabupaten Lampung Tengah, Provinsi DKI Jakarta (0725) 529691
Lampung
Lampung Jalan Pangeran Antasari Nomor 110, Kelurahan Jagabaya III, Kecamatan
Multiguna Way Halim, Bandar Lampung, Provinsi Lampung
Jl. Pulau Bangka Ruko City Hall Blok 7 RT 009/RW 003, Kelurahan Air
Kep. Bangka
Pangkal Pinang Itam, Kecamatan Bukit Intan, Kota Pangkal Pinang, Provinsi Kepulauan (0717) 4256832
Belitung
Bangka Belitung
Jl. Sukardjo Wirjo Pranoto No.2/6, Kel. Kebon Kelapa, Kec. Gambir,
Pecenongan (021) 3847288
Jakarta Pusat, DKI Jakarta
Jl. Gunung Sahari Raya Blok C No. 35, Kel. Ancol, Kec. Pademangan,
Kemayoran (021) 22620253
Jakarta Utara
Jl. Boulevard Barat Blok C No.63A, Plaza Kelapa Gading Inkopal, Kel.
Kelapa Gading (021) 45851153
Kelapa Gading Barat, Kec. Kelapa Gading, Jakarta Utara, DKI Jakarta
Jl. Jatinegara Timur No. 37 RT 008/RW 04, Kelurahan Balimester,
Matraman (021) 85917920
Kecamatan Jatinegara, Jakarta Timur, DKI Jakarta
JL. Prof Dr Latumenten, Komplek Ruko Seasons City Blok A No. 28, Kel.
Tanjung Duren (021) 29618062
Jembatan Besi, Kec. Tambora, Kota Jakarta Barat, Provinsi DKI Jakarta
Rukan Plaza 5 Pondok Indah Blok D Nomor 5
Fatmawati Jl. Marga Guna, Kelurahan Gandaria Utara, Kecamatan Kebayoran Baru, (021) 27933248
Kotamadya Jakarta Selatan, Provinsi DKI Jakarta
Jl. Meruya Ilir Raya, Komplek Perumahan Rich Palace Nomor 36-40 Blok
DKI Jakarta Kebon Jeruk A-11, Kelurahan Srengseng, Kecamatan Kembangan, Jakarta Barat, (021) 58910034
Provinsi DKI Jakarta.
Jl. Duren Tiga , Nomor 29 A-B, RT 005/RW 001, Kelurahan Duren Tiga,
Duren Tiga 2 (021) 79195795
Kecamatan Pancoran, Jakarta Selatan, DKI Jakarta, 12760
Ruko Bona Indah Bisnis Center Blok B1 Nomor 9X
Lebak Bulus Jl. Karang Tengah, Kel. Lebak Bulus, Kec. Cilandak, Kota Jakarta Selatan, (021) 27819838
DKI Jakarta, 12440
Galeri Niaga Mediterania I
Pluit Jl. Pantai Indah Utara 2, RT.1/RW.16 Kelurahan Kapuk Muara, Kecamatan (021) 5882175
Penjaringan, Kota Jakarta Utara, 14460
Ruko Mampang Business Park Blok A No. 18, Jalan Hj. Tutty Alawiyah
Duren Tiga
Nomor 301, RT 010 RW 003, Kel. Duren Tiga, Kec. Pancoran, Kota Jakarta
Captive
Selatan, Provinsi DKI Jakarta
Ruko Rich Palace Shop House and Sweet Regency Blok A.11, Jl. Meruya
Kebon Jeruk
Ilir Raya No. 36-40, Kel. Srengseng, Kec. Kembangan, Kota Jakarta Barat,
Multiguna
Provinsi DKI Jakarta
Ruko Cilegon Business Square Blok A No. 6 - 7 RT.05/RW.06, Kel.
Cilegon (0254) 374909
Kedaleman, Kec Cibeber, Kota Cilegon, Provinsi Banten, 42422
Kelurahan Drangong, Kecamatan Taktakan, Kota Serang, Propinsi
Serang (0254)8496152
Banten
Ruko BSD Junctions Blok A39, JL. Pahlawan Seribu Kel. Lengkong Wetan
Serpong (BSD) (021) 5382090
Kec. Serpong Utara BSD CITY, Tangerang Selatan, 15310
Banten Rukan Business Park Tangeang City, Cikokol
Tangerang JL. Jendral Sudirman No.1, Kel. Babakan, Kec. Tangerang, Kota Tangerang, (021) 29676323
Propinsi Banten, 15117
Bintaro Jaya Kavling Blok EB/B-09, Kelurahan Perigi Lama, Kecamatan
Bintaro (021) 22215659
Pondok Aren, Provinsi Banten
Jl. Soekarno Hatta/ ByPass Perempatan Sumur Buang. Cibadak-Lebak
Lebak
RT. 005 RW. 001, Desa Kaduagung Timur, Kecamatan Cibadak, Kabupaten (0252) 209765
(Rangkasbitung)
Lebak, Provinsi Banten, 42317
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Company
Profile
Branch Office Address
Province Name of Branch Current Address Phone
Ruko Ranca Utama, Jalan Raya Serang - Cilegon KM 4, Kp. Ranca Tales,
Serang
RT 003 RW 004, Kelurahan Drangong, Kecamatan Taktakan, Kota Serang,
Multiguna
Provinsi Banten
Ruko BSD Junction Blok A Nomor 39-40, Jalan Pahlawan Seribu,
BSD Multiguna Kelurahan Lengkong Wetan, Kecamatan Serpong Utara, Kota Tangerang
Selatan, Provinsi Banten
Ruko Pondok Gede Plaza Blok B No.1 & 2
Pondok Gede Jl. Raya Pondok Gede RT.001/RW.001 Kel. Jatiwaringin, Kec.Pondok 021)85508709
Gede, Kota Bekasi 17411
Ruko Emerald Summarecon Bekasi No UA 39, Type 450 , Kelurahan
Bekasi (021) 89454997
Marga Mulya, Kecamatan Bekasi Utara, Kota Bekasi. Jawa Barat, 17144
Ruko Dharmawangsa 2 Blok A No.33, Grand Taruma, Kel. Sukamakmur,
Karawang (021) 58910034
Kec.Teluk Jambe Timur, Karawang Barat, 41361
Rukan Depok Mall
Depok (021) 7756733
Jl. Raya Margonda Blok B-1 No. 50, Kemirimuka, Beji, Depok, Jawa Barat
Jl. Siliwangi No. 60 B & B-1, RT 005/RW 004, Kel. Lawanggintung, Kec.
Bogor (0251) 8371118
Bogor Selatan, Kota Bogor, Provinsi Jawa Barat, 16134
Ruko Cibubur Time Square Blok B4 No 22, Jl. Transyogi KM 3, Kel. Jati
Cibubur (021)84300687
Karya, Kec. Jati Sampurna, Kota Bekasi, Jawa Barat, 17435
Komplek Cikarang Central City blok E no 15
Cikarang Jl. Raya Cikarang - Cibarusah, Ciantra, Cikarang Selatan, Bekasi, Jawa (021)22180581
Barat 17550
Cibinong City Center
Cibinong Jl. Tegar Beriman Blok D No. 3B, Kelurahan Pakansari, Kecamatan (021) 29577430
Cibinong, Kabupaten Bogor, Provinsi Jawa Barat, 16915
Jl. Jendral Sudirman No.57, Sriwidari, Gunung Puyuh, (seberang Bolu
Sukabumi (0266) 6223723
Amor café) Benteng, Warudoyong, Sukabumi City, Jawa Barat, 43131
West Java
Kopo Plaza Kav. C10 – 11
Bandung 1 (022) 60401 19
Jl. Peta Lingkar Selatan, Bandung, Jawa Barat, 40233
Jl. BKR No. 141, RT. 004/RW. 003, Kel. Cigereleng, Kec. Regol, Bandung,
Bandung 2 (022) 42833444
40253
Jl. Batununggal Indah IV Nomor 73, Kel Mengger, Kec Bandung Kidul,
Bandung 3 (022) 87306880
Kota Bandung, Jawa Barat
Jl. Yudanegara No. 24, 003/001, Yudanagara, Cihideung, Tasikmalaya,
Tasikmalaya (0265) 344905
46121
Ruko Kesambi Regency Blok A No. 4
Cirebon (0231) 8308522
Jl. Raya Kesambi, Kel. Kesambi, Kec. Kesambi, Cirebon, Jawa Barat
Pertokoan Intan Bisnis Center (IBC) Blok I No. 27, Kel. Pakuwon, Kec.
Garut (0262) 544605
Garut Kota, Kab. Garut, Provinsi Jawa Barat
Jl. Otto Iskandar Dinata Nomor 262, RT 095/RW 026, Kel. Karanganyar,
Subang (0260) 415869
Kec. Subang, Kabupaten Subang, Provinsi Jawa Barat.
Ruko Grand Kota Bintang C6 RT 04 RW 07, Kelurahan Jaka Sampurna,
Bekasi Multiguna
Kecamatan Bekasi Barat, Kota Bekasi, Provinsi Jawa Barat
Karawang Ruko Dharmawangsa II Blok A No. 35, Grand Taruma, Kel. Sukamakmur,
Multiguna Kec. Telukjambe Timur, Kab. Karawang, Provinsi Jawa Barat 41361
Bandung Jalan BKR Nomor 94 RT 003 RW 005, Kelurahan Ancol, Kecamatan Regol,
(0260) 415869
Multiguna Kota Bandung
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Branch Office Address
Province Name of Branch Current Address Phone
Jl. Yos Sudarso RT.005 RW.009 Blok H 4 & 5 Nirmala Square Kelurahan
Tegal (0283) 324066
Mintaragen, Kecamatan Tegal Timur, Kota Tegal, Jawa Tengah.
Jl. DI Panjaitan RT 005/002 Karangklesem, Purwokerto Kulon,
Purwokerto (0281) 642645
Purwokerto Selatan, Banyumas.
Jl. Indraprasta No. 30 A - B, Kel. Pendrikan Kidul, Kec. Semarang Tengah,
Semarang (024) 3589008
Kota Semarang, 50241
Mutiara Ungaran Square, Kelurahan Ungaran, Kecamatan Ungaran
Ungaran (024) 76902099
Barat, Kabupaten Semarang, Jawa Tengah
Ruko Adi Sucipto
Solo Jl. Adi Sucipto 167 RT 003/RW 011 Kelurahan Kerten, Kecamatan (0271) 738989
Laweyan, Kota Surakarta, Solo, Jawa Tengah 57143
Central Java Jl. Raden Agil Kusumadya No. 8, Desa Jati Kulon, Kec. Jati, Kudus, Jawa
Kudus (0291) 4252070
Tengah
Metro Square
Magelang Jl. Mayjend. Bambang Soegeng, Desa Sumberrejo, Kecamatan (0293) 312406
Mertoyudan, Kabupaten Magelang, Provinsi Jawa Tengah
Komplek Ruko Dupan Square
(0285)
Pekalongan Jl. Dr. Sutomo Blok B2 No. 10, Kelurahan Baros, Kecamatan Pekalongan
4420100
Timur, Kota Pekalongan, Provinsi Jawa Tengah
Semarang Jalan Indraprasta Nomor 32, Kel. Pendrikan Kidul, Kec. Semarang
Multiguna Tengah, Kota Semarang
Jalan Adi Sucipto RT 001 RW 013, Kelurahan Manahan, Kecamatan
Solo Multiguna
Banjarsari, Kota Surakarta, Jawa Tengah
Ruko Sumber Baru Square Kavling W
Yogyakarta Jl. Ring Road Utara, Kelurahan Sendangadi, Kecamatan Mlati, Kabupaten (0274) 860 9901
Yogyakarta Sleman, Provinsi Daerah Istimewa Yogyakarta, Kode Pos 55284
Special Region Ruko Sumber Baru Square Kav. W, Jalan Ringroad Utara, Kelurahan
Yogyakarta
Sendangadi, Kecamatan Mlati, Kabupaten Sleman, Provinsi D.I.
Multiguna
Yogyakarta
Jl. Mayjend Sungkono No. 149-151 Blok 1-5, Kelurahan Dukuh Pakis,
Surabaya 1 (031) 99533640
Kecamatan Dukuh Pakis, Kota Surabaya, Provinsi Jawa Timur
Jl. Raya Tenggilis No 23 Kav 5-6, RT 005/RW 002, Kel. Kendangsari, Kec.
Surabaya 2 (031) 8420450
Tenggilis Mejoyo, Kota Surabaya, Provinsi Jawa Timur
Jl. Tumenggung Suryo No 98 Kav 1, Kelurahan Purwantoro, Kecamatan
Malang (0341) 497927
Blimbing, Kota Malang, Jawa Timur
Desa/Kelurahan Mojoroto, Kec. Mojoroto, Kota Kediri, Provinsi Jawa
Kediri (0354) 775192
Timur
Ruko Gajah Mada Square A9
Jember Jl. Gajah Mada No.187, Kel. Kaliwates, Kec. Kaliwates, Jember, Jawa Timur, (0331) 425959
East Java
68133
Jl. Mayjen Sungkono RT 037/RW 012, Kel. Nambangan Kidul, Kec.
Madiun (0351) 473176
Manguharjo, Kota Madiun, Provinsi Jawa Timur
Jl. Diponegoro No.34 C, Kel. Latsari, Kec. Tuban, Tuban, Jawa Timur,
Tuban (0356) 326381
62314
Jl. Bhayangkara No.110, Kelurahan Jagalan, Kecamatan Kranggan, Kota
Mojokerto (0321) 329688
Mojokerto, Provinsi Jawa Timur, 61313
Ruko Kartini Megah Kav. A10, Jl. RA Kartini No. 150-152 RT 003/RW 007,
Gresik Kelurahan Sidomoro, Kecamatan Kebomas, Kabupaten Gresik, Provinsi (031) 3985189
Jawa Timur.
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Company
Profile
Branch Office Address
Province Name of Branch Current Address Phone
Ruko Golden City
Banyuwangi Jl. S. Parman, Kelurahan Pakis, Kecamatan Banyuwangi, Kabupaten (0333) 3382601
Banyuwangi, Provinsi Jawa Timur
Malang Jalan Tumenggung Suryo Nomor 98, Kelurahan Purwantoro, Kecamatan
Multiguna Blimbing, Kota Malang, Provinsi Jawa Timur
Surabaya Ruko Mangga Dua Blok B1-05, Kelurahan Jagir, Kecamatan Wonokromo,
Multiguna Kota Surabaya, Provinsi Jawa Timur
Jl. Buluh Indah No. 53 kav. 1, Kel. Pemecutan Kaja, Kec. Denpasar Utara,
Denpasar (0361) 8469896
Bali, 80118
Bali Gianyar Jl. Erlangga No.15 C, Kel. Gianyar, Kec. Gianyar, Gianyar, Bali, 80511 (0361) 944478
Denpasar Jl. Raya Cargo No. 16, Kel. Ubung, Kec. Denpasar Utara, Kota Denpasar,
Multiguna Bali
West Nusa Jl. Selaparang No. 47 A-B, Kec. Cakranegara Timur, Mataram, Nusa
Mataram (0370) 638277
Tenggara Tenggara Barat, 83236
East Nusa Jl. Timor Raya KM 6, RT011/RW004 Kel. Oesapa Barat, Kelapa Lima,
Kupang (0380) 8586290
Tenggara Kupang, Nusa Tenggara Timur, 85288
Jl. Ahmad Yani, Kelurahan Benua Melayu Darat, Kecamatan Pontianak
Pontianak (0561) 66555718
Selatan, Kota Pontianak, Provinsi Kalimantan Bara
Jl. Lintas Melawi, Kel. Ladang, Kec. Sintang, Kab. Sintang, Kalimantan
West Sintang (0565) 2022080
Barat
Kalimantan
Jl. Gatot Subroto, RT 002 RW 001, Komplek Ruko Grand Rivera No. A1-2,
Ketapang Desa Paya Kumang, Kec. Delta Pawan, Kabupaten Ketapang, Kalimantan (0534) 3032761
Barat 78813
Jl. Veteran, Kel. Pengambangan, Kec. Banjarmasin Timur, Kota
Banjarmasin (0511) 3277145
Banjarmasin, Provinsi Kalimantan Selatan
Jl. Mistar Cokrokusumo No. 9, Sungai Besar, Banjarbaru Selatan,
South Banjarbaru (0511) 4772067
Banjarbaru
Kalimantan
Jl. Veteran RT 14 RW 02 No. 86, Kelurahan Pengambangan, Kec.
Banjarmasin
Banjarmasin Timur, Kota Banjarmasin, Provinsi Kalimantan Selatan
Multiguna
70237
Jl. G. Obos, Kelurahan Menteng, Kecamatan Jekan Raya, Kota Palangka
Palangkaraya (0536) 3224277
Raya, Provinsi Kalimantan Tengah
Central
Kalimantan Jl. Mas Tirto Haryono, RT 22 RW 09, Kelurahan Mentawa Baru Hulu,
Kotawaringin
Kecamatan Mentawa Baru Ketapang, Kabupaten Kotawaringin Timur, (0531) 23216
Timur (Sampit)
Provinsi Kalimantan Tengah
Jl. Dr. Sutomo Gang 6, Kel. Sidodadi, Kec. Samarinda Ulu, Provinsi
Samarinda (0541) 7273930
Kalimantan Timur
Jl. MT. Haryono Komp. Daun Village RT 41, Kelurahan Gunung Bahagia,
Balikpapan (0542) 8860744
Kecamatan Balikpapan Selatan, Kota Balikpapan.
Jl. Yos Soedarso No. 5 RT 14, Kel. Selumit Pantai, Kec. Tarakan Tengah,
East Kalimantan Tarakan (0551) 3805972
Tarakan, Kalimantan Timur
Jl. Bhayangkara, Kel. Gunung Elai, Kec. Bontang Utara, Kota Bontang,
Bontang (0548) 24488
Provinsi Kalimantan Timur
Samarinda Jl. Dr. Sutomo No. 48, Kelurahan Sidodadi, Kecamatan Samarinda Ulu,
Multiguna Kota Samarinda, Provinsi Kalimantan Timur
Jalan citraland Boulevard, Kompleks Citraland Bussinesess Park Blok
Makassar A1/02 dan A1/03 Kelurahan Maccini Sombala, Kecamatan Tamalate,
South Sulawesi Kota Makassar Provinsi Sulawesi Selatan
Jalan AP Pettarani, Kel. Tidung, Kec. Rappocini, kota makassar, sulawesi
Makassar II (0411) 467566
selatan
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03
Branch Office Address
Province Name of Branch Current Address Phone
Jl. Sultan Hasanuddin No. 16 A, Kelurahan Ujung Sabang, Kecamatan
Parepare (0421) 28622
Ujung, Pare-Pare, Sulawesi Selatan, 91114
Jalan Citraland Boulevard Ruko Business Commercial Park CPI Blok A1
Makassar
No. 2-3, Kelurahan Maccini Sombala, Kecamatan Tamalate, Kota
Multiguna
Makassar, Provinsi Sulawesi Selatan
Southeast Jl. Brigjen M. Joenoes By Pass Square Blok A Nomor 5, Kelurahan Bende,
Kendari (0401) 3135093
Sulawesi Kecamatan Kadia, Kota Kendari
Jl. Yos Sudarso Nomor 37, Kelurahan Binanga, Kecamatan Mamuju,
Manado (0431) 8819809
Kabupaten Mamuju, Provinsi Sulawesi Barat.
Kelurahan Mogolaing, Kecamatan Kotamobagu Barat, Kota Kotamobagu,
North Sulawesi Kotamobagu (0434) 2621540
Provinsi Sulawesi Utara.
Manado Jl. Piere Tendean Komplek Marina Plaza Blok C No. 03 & 17, Kel. Wenang
Multiguna Utara, Kec. Wenang, Kota Manado, Provinsi Sulawesi Utara 95111
Jl. Monginsidi Nomor 24-25, RT 002, RW 006, Kelurahan Lolu Utara,
Palu (0451) 454139
Kecamatan Palu Timur, Kota Palu, Provinsi Sulawesi Tengah
Central Sulawesi
Kelurahan Simpong, Kecamatan Luwuk, Kota Banggai, Provinsi Sulawesi
Luwuk (0461) 23128
Tengah
Jl. Nani Wartabone, Kelurahan Heledulaa Selatan, Kecamatan Kota
Gorontalo Gorontalo (0435) 822315
Timur, Kota Gorontalo
Jl. Yos Sudarso Nomor 37, Kelurahan Binanga, Kecamatan Mamuju,
West Sulawesi Mamuju (0426) 2324777
Kabupaten Mamuju, Provinsi Sulawesi Barat.
Maluku Ambon Kelurahan Rijali, Kecamatan Sirimau, Kota Ambon, Provinsi Maluku (0911) 3829445
Jl. Raya Abepura Kotaraja, Kelurahan Vim, Kecamatan Jayapura Selatan,
Papua Jayapura (0967) 5187813
Kota Jayapura, Provinsi Papua
Kelurahan Klawuyuk, Kecamatan Sorong Timur, Kota Sorong, Provinsi
West Papua Sorong (0951) 3177597
Papua Barat
Satellite Office Address
Non-Branch
No. Main Branch Representative Address
Office
1 Padang Dharmasraya Jl. Lintas Sumatera Kel. Sungai Gambut, Kec. Pulau Punjung, Dharmasraya 27573
Jl. Jendral Sudirman Desa Cambai (Sebelah Indomaret) Kecamatan Pembantu
2 Palembang Prabumulih
Lembak Kabupaten Muara Enim Provinsi Sumatera Selatan 31146
Belitung & East
3 Pangkal Pinang Jl. Sudirman, Jend. RT 028 RW 10, Tanjungpandan. Belitung 33411
Belitung
Jl. Kawitan 1 RT 16 RW 00 Kel Sidorejo Kec Arut Selatan Kab. Kotawatingan Barat
4 Sampit Pangkalanbun
74111 (Depan Gudang Djarum)
Jl. Yohana Godang Depan Gedung Bantilan Kelurahan Pasiran Kecamatan
5 Pontianak Singkawang
Singkawang Barat 79123
6 Kendari Kolaka Jl. Khairil Anwar No. 1 (Tenant Mall Hotel Sunan Kolaka)
7 Kendari Bau-bau Jl. Lakarambau, Lipu, Kec. Betoambari, Kota Bau-Bau, Sulawesi Tenggara 93724
8 Parepare Palopo Jl. Andi Djemma No. 123 Kota Palopo, Sulawesi Selatan - 91921
Jalan Cideng Timur Nomor 23-A, Kelurahan Petojo Utara, Kecamatan Gambir,
9 Central Jakarta Graha Sultan
Jakarta Pusat
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04 Management Discussion & Analysis
Page 101
Page 102
Management Discussion &
Analysis of Company Performance
Economic and Industry Review
Global Economic Analysis
Until the end of 2023, the global economy continued to be overshadowed by various conditions of global uncertainty,
ranging from risks of weakening economic growth in China and the United States, geopolitical tensions such as the
Russo-Ukrainian conflict and the Palestine-Israel conflict, climate change threats, and the increasing world oil prices.
Based on the World Economic Outlook (WEO) report published by the International Monetary Fund (IMF) on October
10, 2023, global economic growth in 2023 stood at 3%, down 0.5 points from 2022.
World Economic Outlook 2023
GROWTH PROJECTIONS
Global Advances Emerging Market &
Economy Economies Developing Economies
3.5 4.1 4.0 4.2
3.0 3.1
2.6
1.8
1.5
2021 2022 2023 2021 2022 2023 2021 2022 2023
*Sumber: IMF Publication January 2024
The global economy is influenced by volatility and fluctuations in commodity prices. Commodity price volatility is a
significant factor affecting inflation rates, monetary policies, and the economic performance of all countries. This year,
all countries are facing shocks and fluctuations in commodity prices, which continue despite a declining trend.
Amidst the global slowdown in inflation, the benchmark interest rates of several countries remain relatively high due
to inflation rates that have not yet reached target levels. Despite the beginning of a slowdown, future inflationary
pressures are still expected to be high due to rising energy and food prices resulting from ongoing geopolitical
escalations in various regions and the phenomenon of El Niño disrupting food production processes and levels. The
slowdown in China’s economy also needs to be monitored as it could affect trade flows and global economic growth
in the future.
Indonesian Economic Analysis
Amidst the uncertainty and global economic slowdown, the Indonesian economy remains robust and stable. Data from
the Central Statistics Agency (BPS) shows that Indonesia’s economy in the fourth quarter of 2023 continued to grow by
5.04% (YoY), albeit slightly slower than the growth in the previous year, which reached 5.31% (YoY). The relatively stable
domestic economic growth is driven by increased domestic demand, both in household consumption and investment.
One of the factors contributing to economic growth is the stable financial sector conditions in 2023, as reflected in
the growth of the capital market, banking, and non-banking financial industries. The non-banking financial sector,
particularly the financing companies, recorded a financing receivables value of Rp463.12 trillion (growing by 15.02%
yoy).
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04
Meanwhile, the exchange rate of the Indonesian rupiah Based on data from the Financial Services Authority (OJK),
against the US dollar was at the level of Rp15,255 per the net financing receivables from financing companies
US dollar until the end of December 2023. This level increased from Rp415.9 trillion in 2022 to Rp470.9 trillion
is weaker than the macro assumption of Rp14,800 per in 2023. Moreover, the total financing receivables,
US dollar. Additionally, the realization of the 10-year including joint financing, amounted to Rp659.9 trillion
government bond yield was lower than expected, at in December 2023, a 15% increase (YoY) compared to
6.68%. December 2022. The growth in financing business in
2023 was driven by the end of the COVID-19 pandemic,
The manufacturing and trade sectors remain the main which boosted financing disbursements. Additionally,
contributors to economic growth. The manufacturing the positive macroeconomic conditions in 2023 and the
sector grew by 5.2%, supported by strong domestic maintained inflation rate supported the growth of the
demand and high demand for downstream commodities, multifinance business. Currently, the automotive and
especially minerals. Meanwhile, the trade sector also heavy equipment financing sectors are the main drivers
grew strongly by 5.1%, driven by increased sales of motor of growth. The continued high demand has propelled
vehicles and spare parts. industry players, especially in the mining sector.
Household consumption also grew by 5.06% (YoY), in line PT Mandiri Tunas Finance (MTF) reported that heavy
with the ongoing increase in mobility, stable purchasing equipment financing reached Rp1.9 trillion throughout
power of the public, and high consumer confidence. 2023, experiencing a 13.2% (YoY) decrease from Rp2.2
Meanwhile, Government consumption contracted trillion in 2022. The decline in heavy equipment
by 3.76% (YoY), primarily due to a shift in employee financing was offset by an increase in both passenger
spending related to the distribution of the 13th-month and commercial vehicle financing by 23.6% (YoY),
salary to the second quarter. reaching Rp29.1 trillion. The company’s portion of heavy
equipment financing in 2023 contributed 6% to the total
Despite the slowing global outlook, Indonesia is among portfolio.
the countries that have managed to grow strongly in
2023 amidst structural challenges and external risks, Marketing Aspects
such as global uncertainty, inflationary pressures, and In 2023, the Company expanded its marketing coverage
geopolitical tensions. from Sumatra to Jayapura. The Company provides
financing services tailored to the business segments
Condition of the Financing Company operated by the Company to the public in regions
Industry divided into Regional I-IX.
Based on data from the Indonesian Automotive
Industries Association (GAIKINDO), car sales in 2023 The marketing strategies implemented by MTF in 2022
reached 1 million units, a decrease of 4.1% compared to were as follows:
2022. The decline in car sales was due to the slowdown 1. Growing the captive business segment originating
in the automotive market in the second half of 2023 due from Bank Mandiri by creating a strong captive
to rising interest rates and economic growth slowdown. business ecosystem through expanding business
Additionally, the Government’s efforts to promote the to grow through Bank Mandiri referrals and retail
use of electric vehicles (EVs) in Indonesia have yielded branch penetration while maintaining captive
results, as reflected in the increased sales of EVs, hybrid business growth at 30% of total new financing.
EVs, and electric two-wheelers. Moving forward, the 2. Maintaining the business segment originating from
trend of increasing electric vehicle usage is expected dealers and partners through commercial expansion
to continue, as public charging infrastructure becomes and heavy equipment targeting specific sectors,
more available, production costs of electric vehicles maintaining revenue growth according to risk
decrease with advancing production technology, and profiles, and increasing retail business above 13% to
sustained government support in the form of sales tax become the number one car financing company.
incentives.
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Management Discussion &
Analysis of Company Performance
3. Optimizing the database to add value to customers With the rising level of competition, financing
through increasing repeat orders above 30%, companies are required to be more creative in
developing new business through the database, extending credit to their customers by providing
and developing data technology to create business the best services. Among the best services are ease
support. of obtaining motor vehicle credit, ease of making
installment payments, quick surveying process,
Strategic Policies attractive and competitive credit packages in terms
With the rising level of competition, financing of financing rates, tenor periods, and down payments.
companies are required to be more creative in
extending credit to their customers. In response In response to this high level of competition, the
to this challenge, the Company has established a Company has prepared strategies to consistently provide
business strategy focused on increasing market the best service to customers and dealers, including:
penetration through its business sources and 1. Optimization of captive market business through
continuously improving reliable services through the improved collaboration models.
digitalization of processes for both customers and 2. Acceleration of dealership-based business.
business partners. 3. Business diversification and database optimization.
4. Development towards digitalization and increased
MTF recorded positive performance in 2023 compared utilization of the database to support long-term
to 2022, with new financing growth increasing by business.
17.75% and profit growth of 54.77%. In this fiscal year,
the Company adopted the strategic theme “Building Solutions implemented as strategies to maintain or
New Foundation to Win The Market.” This theme increase market share include:
demonstrates the Company’s commitment to building 1. Improve people competencies to work on new
a new foundation to enhance its performance in order business segments.
to win the market. To support the theme, the Company 2. Conduct Business Process Re-engineering (BPR) for
sets the development of internal conditions as the each business segment.
foundation to grow to achieve corporate goals. 3. Building system and digital capabilities
4. Build data management & data analytic capabilities
Market Share to support business.
In conducting its business, the Company faces
several competitors offering similar products. The The Company’s market share based on the total assets
increasing number of similar financing companies of the national financing industry is depicted in the
and banks entering the motor vehicle financing table and graph below.
industry has intensified competition in this sector.
2023 2022
Total Financing Companies/Institutions* 147 153
Total Industry Assets (Rp-billion)* 552,887 487,919
Total MTF Assets (Rp-billion) 29,727 23,728
Market Share Based on Assets (%) 5.38 4.86
*) Data based on Financing Institution Statistics released by the Financial Services Authority (OJK)
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Operations Overview Per Business Segment
Financing Business Activities and Business Process of MTF
The Company runs its business in investment financing services, working capital financing, and multipurpose
financing. Currently, the Company focuses its business activities in the consumer finance sector on providing funds for
customers who wish to purchase in installments from either the parent entity, PT Tunas Ridean Tbk (“TURI”), or from
outside TURI’s business group. The Company focuses on new car financing activities that can provide high returns with
a safe level of risk. That financing consists of Toyota, Daihatsu, Honda, Nissan, Mazda, Mitsubishi, and Suzuki brands,
as well as brands sold from APM.
Financing activities are provided as motor vehicle ownership loans with repayment terms in fixed monthly installments.
The Company classifies the financing facilities into 3 (three) types, i.e., new cars, used cars, and motorcycles. Therefore,
the Company also has different requirements for these three types of businesses.
In general, the financing period is set from 1 (one) to 7 (seven) years, with the maximum financing period being 4
(four) years. As collateral for the loan, the original Proof of Ownership of Motor Vehicles (BPKB) is held and kept by
the Company. The document will be submitted to the customer if all their obligations to the Company have been paid.
Development of Number of New Contract Units by Type of Financing
New Contract (Unit) Increase (Decrease)
Type of Financing
2023 2022 Unit %
New Car 88,002 82,515 5,487 6.65
Used Car 28,253 21,714 6,539 30.11
Motorcycle 378 322 56 17.39
Other 5,238 34,539 (29,301) (84.83)
Total 121,871 139,090 (17,219) (12.38)
Number of New Contract 2019-2023 (Unit)
166,049
139,090
121,871
94,124
69,777
2019 2020 2021 2022 2023
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Management Discussion &
Analysis of Company Performance
Development of New Financing Contract Value Based on Type of Financing
New Contract (Rp million) Increase (Decrease)
Type of Financing
2023 2022 Rp million %
New Car 27,253,703 23,817,707 3,435,996 14.43
Used Car 5,371,351 3,700,357 1,670,994 45.16
Motorcycle 47,561 33,470 14,091 42.10
Other 25,288 217,730 (192,442) (88.39)
Total 32,697,903 27,769,264 4,928,639 17.75%
Value of Financing Contract 2019-2023 (Rp million)
32,697,903
28,779,662 27,769,264
20,620,564
16,739,556
2019 2020 2021 2022 2023
Recapitulation of Number of New Contract Units and Financing Contract Value
New Contract Increase (Decrease)
Type of Financing
2023 2022 Rp million %
Number of Financing Value (Rp million) 32,697,903 27,769,264 4,928,639 17.75
Number of New Contarct (Unit) 121,871 139,090 (17,219) (12.38)
In terms of the Company’s achievements, both in terms of the volume of new contract units and the value of financing
contracts, there has been an increase compared to the previous year. This is due to the high economic growth
conditions in Indonesia, which stood at 5.31%, as well as a 17.75% increase in total financing disbursements in 2023.
This has impacted the volume of new contract units and the value of financing contracts in the Company, which have
experienced growth and contributed to the overall performance improvement of the Company.
Total New Contract Value by Origin of Contract from Group or Non Group
New Contract (Unit) Increase (Decrease)
Type of Financing
2023 2022 Unit %
Group 9,301 6,924 2,377 34.33
Non-Group 112,570 132,166 (19,596) (14.83)
Total 121,871 139,090 (17,219) (12.38)
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Total Financing Value by Origin of Contract from Group or Non Group
New Contract (Rp million) Increase (Decrease)
Source of Contract
2023 2022 Rp million %
Grup 2,473,403 1,502,796 970,607 64.59
Non Grup 30,224,500 26,266,468 3,958,032 15.07
Jumlah 32,697,903 27,769,264 4,928,639 17.75
In the pursuit of potential customers, the Company relies on Sales Officers (SO). SOs are responsible for obtaining
credit applications from the Company’s affiliated dealers and showrooms, as well as conducting credit analysis,
processing credit applications, and assisting in monitoring the smoothness of credit payments by these customers.
Thus, SOs are the forefront of the Company in carrying out its business activities. To maintain the quality of the credit
produced, the Company places a minimum of 1 (one) Credit Head in each branch office. Their function is to serve as
selectors for the credit proposals submitted by SOs.
Prime services are provided not only by each SO who will process credit applications at the beginning of transactions
but also by all departments during the credit period and until the completion of the credit at the end of the payment
period. Below is the scheme of the consumer financing process applicable within the scope of the Company.
Customer Showroom/Referral BMRI/ Mandiri Tunas Finance Sales Officer
Telemarketing/Agent
Analysis by Verification by Survey Application
Data entry Pembiayaan Process
Credit Head Sales Head
Re-Survey (Optional) Credit Credit Decision by PO Release Delivery
Recomendation WMK Holder
T
RECEIP
Delivery of Contract Payment Go Live
Document Document Verification Billing
& DO by CH Documents
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Management Discussion &
Analysis of Company Performance
Mechanism/Process of Financing
To continually enhance customer service, the Company continuously develops or refines the financing process,
leveraging technology. Technology utilization primarily aims to expedite the financing process while prioritizing caution
to maintain a healthy portfolio. The principle of caution is also reflected in the establishment of risk acceptance
criteria (RAC), serving as a reference for customer acquisition, including but not limited to:
1. Payment of a certain percentage of the car price as a down payment.
2. For used car financing, maximum age limit of 15 years.
3. Credit term ranging from a minimum of 6 (six) months to a maximum of 7 (seven) years.
4. Throughout the credit period, the car must be insured by the insurance company designated by the Company.
A financing process oriented towards the principle of caution and supported by technology usage forms a strong
foundation for the Company’s rapid and healthy growth.
Billing Scheme
With the financing policies outlined above, the Company aims to minimize problematic receivables as much as possible
in its business operations. Effective management of financing activities and maintaining good collectability levels are
key to the Company’s success. Thus, effective billing management is crucial for the Company’s success.
Collection Scheme
CREDIT PAYMENT • MONITORING
CHANNELS BY MARKETING-
BEFORE COLLECTION
• REMINDING OF OD 1-3 DAYS
DUE DATE THE CUSTOMER
BY PHONE, SMS/
MESSAGE
PDC
DEBIT ACCOUNT COOLECTION BY
FIELD-COLLECTION
CASH OD 3-30 DAYS
AFTER WARNING LETTER
BANK DUE DATE OD >30 DAYS
ASSET SEIZURE/
POST OFFICE REPOSSESSION PROFIT/LOSS REPORT
PAYMENT CHANNEL AFTER
LETTER INFORMATION
REPOSSESSION
PAWN SALE
Business Segments Classificastion by Operating Segments
The Company’s operational segments are divided based on primary customer groups and products, namely Fleet and
Retail, with other segments as allocations that cannot be allocated to either of the two segments. In determining
segment results, several asset and liability accounts as well as income and expenses related to distribution are
allocated to each segment based on internal management reporting policies.
The operational explanations of each segment in the Company’s segment reporting are as follows:
• Retail
Included in the retail segment reporting are all operational segment assessment indicators that can be clearly
attributed as part of consumer financing for individual customers.
• Fleet
Included in the fleet segment reporting are all operational segment assessment indicators that can be clearly
attributed as part of financing for corporate customers.
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04
• Others
Included in the reporting of other segments are operational segment reporting information related to treasury
activities and headquarters such as bank interest income, general and administrative expenses that cannot be
allocated to the two segments above.
Additionally, the Company calculates operational segments based on geographical information.
OPERATION SEGMENT OF MTF
BASED ON MAIN CUSTOMER GROUPS BASED ON GEOGRAPHIC (LOCATION)
AND PRODUCT
• Regional 1 (Sumatera)
• Regional II (Sumatera)
• Regional III (Jabodetabek, Banten)
• Regional IV (Jabodetabek)
• Regional V (West Java)
RETAIL FLEET OTHERS • Regional VI (Central Java, Yogyakarta)
• Regional VII (East Java, Bali, NTB, NTT)
• Regional VIII (Kalimantan)
• Regional IX (Sulawesi, Maluku, Papua)
• Fleet
• Others
Retail Financing Segment
Retail financing entails providing financing to customers who apply through the Company’s branch offices via the
credit scoring menu. This retail financing is aimed at financing the purchase of both new and used motor vehicles. In
retail financing, administrative and insurance costs are borne by the customers, with the amount depending on the
financing period and separately specified in the financing products/packages offered. Throughout the credit period,
the financing is insured by the Company’s affiliated insurance company as a risk mitigation measure.
In 2023, revenue from retail financing experienced an increase of Rp801,539 from Rp3.14 trillion in 2022 to Rp3.94
trillion in 2023.
Number and Contribution of Retail Segment to the Revenue of MTF
2023 2022 Increase/Decrease
Contract Source Amount Contribution Amount Contribution Amount Contribution
(Rp million) (%) (Rp million) (%) (Rp million) (%)
Retail
Car 3,946,930 83.04 3,145,369 83.24 801,561 25.48
Motorcycle 484 0.01 506 0.01 (22) (4.35)
Total Retail 3,947,414 83.05 3,145,875 83.25 801,539 25.48
Total Revenue 4,752,900 3,778,841 974,059
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Management Discussion &
Analysis of Company Performance
Number and Contribution of Retail Segment to the Assets of MTF
2023 2022 Increase/Decrease
Contract Source Amount Contribution Amount Contribution Amount Contribution
(Rp million) (%) (Rp million) (%) (Rp million) (%)
Retail
Car 22,827,261 76.79 15,789,086 66.54 7,038,175 30.83
Motorcycle 95 0.00 157 0.00 (62) (65.26)
Total Retail 22,827,356 76.79% 15,789,243 66.54% 7,038,113 30.83
Total Revenue 29,727,392 23,728,966 5,998,426 20.18
Contribution of Retail Segment Contribution of Retail
to MTF Revenue (%) Segment to MTF Assets (%)
76.79
83.25 83.05
66.54
64.26
79.39
2021 2022 2023 2021 2022 2023
Financial Performance and Profitability of Retail Segment of MTF
Increase (Decrease)
2023 2022
Nominal (Rp-million) Percentage (%)
Account
Motor- Motor- Motor-
Car Amount Car Motor Amount Car Amount Mobil Amount
cycle cycle cycle
Revenue
Consumer
FInancing 2,715,052 106 2,715,158 2,179,554 3 2,179,557 535,495 103 535,598 24.57 3.433.33 24.57
Financial
Lease 206,950 0 206,950 97,361 0 97,361 109,589 0 109,589 112.56 0.00 112.56
Interest
Income from
Deposit in 13,211 0 13,211 10,369 0 10,369 2,842 0 2,842 27.41 0.00 27.41
Bank
Net Other 1,011,717 378 1,012,095 858,085 503 858,588 153,632 (125) 153,507 17.90 (24.85) 17.88
Total
Revenue 3,946,930 484 3,947,414 3,145,369 506 3,145,875 801,561 (22) 801,539 25.48 (4.35) 25.48
Expenses
Financial
Charges (1,167,286) (2) (1,167,288) (856,537) (4) (856,541) (310,749) 2 (310,747) 36.28 (50.00) 36.28
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Financial Performance and Profitability of Retail Segment of MTF
Increase (Decrease)
2023 2022
Nominal (Rp-million) Percentage (%)
Account
Motor- Motor- Motor-
Car Amount Car Motor Amount Car Amount Mobil Amount
cycle cycle cycle
Salaries and
Benefits (747,809) (1.017) (748,826) (759,613) (1,949) (761,562) 11,804 932 12,736 (1.55) (47.82) (1.67)
Expense
General and
Administrative (328,573) 273 (328,300) (303,271) (524) (303,795) (25,302) 797 (24,505) 8.34 (152.10) 8.07
Expense
Provision for
Impairment (574,622) 3 (574,619) (443,390) 0 (443,390) (131,232) 3 (131,229) 29.60 0.00 29.60
Losses
Total
(2,818,290) (743) (2,819,033) (2,362,811) (2,477) (2,365,288) (455,479) 1,734 (453,745) 19.28 (70.00) 19.18
Expenses
Profit (Loss)
before Final
1,128,640 (259) 1,128,381 782,558 (1,971) 780,587 346,082 1,712 347,794 44.22 (86.86) 44.56
Tax and
Income Tax
Total Assets 22,827,261 95 22,827,356 15,789,086 157 15,789,243 7,038,175 (62) 7,038,113 44.58 (39.49) 44.58
Total
1,358,244 1.866 1,360,110 988,344 2,480 990,824 369,900 (614) 369,286 37.43 (24.76) 37.27
Liabilities
Fleet Financing Segment
Fleet financing involves providing financing to customers managed by the Corporate Fleet Division, which sets the
Financing Provision Limit (BPP) for 1 (one) Debtor or 1 (one) group of obligors, whether they are corporate entities or
individuals. Regarding corporate entities, the financing value provision is set at or above Rp5 billion.
Fleet financing is divided into 2 (two) books:
1. Investment Financing
Financing for capital goods and services needed for business activities/investment, rehabilitation, modernization,
expansion, or relocation of business/investment sites provided to Debtors.
2. Working Capital
Financing Financing to meet the expenditure needs depleted in 1 (one) cycle of customer business activities, by
providing financing limits to customers that are committed and advised.
The financial performance of the Fleet segment, particularly Car Fleet, in 2023 experienced an increase of Rp19.85
million, or 2.53%, compared to 2022.
Number and Contribution of Fleet Segment to the Revenue of MTF
2023 2022 Increase/Decrease
Contract Source Amount Contribution Amount Contribution Amount Contribution
(Rp million) (%) (Rp million) (%) (Rp million) (%)
Fleet
Car 805,419 16.95 785,448 19.98 19,971 2.54
Motorcycle 67 0.00 185 0.00 (118) (63.78)
Total Fleet 805,486 16.95 785,633 19.98 19,853 2.53
Total Revenue 4,752,900 3,931,508 821,392
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Management Discussion &
Analysis of Company Performance
Number and Contribution of Fleet Segments to MTF Assets
2023 2022 Increase/Decrease
Contract Source Amount Contribution Amount Contribution Amount Contribution
(Rp million) (%) (Rp million) (%) (Rp million) (%)
Fleet
Car 5,142,242 17.30 6,505,706 27.42 (1,363,464) (26.51)
Motorcycle 171 0.00 859 0.00 (688) (402.34)
Total Fleet 5,142,413 17.30 6,506,565 27.42 (1,364,152) (26.53)
Total Revenue 29,727,392 23,728,966 5,998,426
Fleet Segment Contribution Fleet Segment Contribution
to MTF Revenue (%) to MTF Assets (%)
32.31
20.61
19.98 27.42
16.95
17.30
2021 2022 2023 2021 2022 2023
Financial Performance and Profitability of Fleet Segment of MTF
Increase (Decrease)
2023 2022
Nominal (Rp-million) Percentage (%)
Akun
Motor- Motor- Motor-
Car Amount Car Motor Amount Car Amount Mobil Amount
cycle cycle cycle
Revenue
Consumer
Financing 285,142 50 285,192 257,289 158 257,447 27,853 (108) 27,745 10.83 (68.35) 10.78
Financial
Lease 445,801 0 445,801 468,168 0 468,168 (22,367) 0 (22,367) (4.78) 0 (4.78)
Factoring
receivables 909 0 909 9,715 0 9,715 (8,806) 0 (8,806) (90.64) 0 (90.64)
Deposit in
Bank 3,923 0 3,923 4,793 1 4,793 (870) (1) (871) (18.15) (100) (18.17)
Others - net 69,644 17 69,661 45,483 26 45,512 24,158 (9) 24,149 53.11 (34.62) 53.06
Total
Revenue 805,419 67 805,486 785,448 185 785,633 19,971 (118) 19,853 2.54 (63.78) 2.53
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Financial Performance and Profitability of Fleet Segment of MTF
Increase (Decrease)
2023 2022
Nominal (Rp-million) Percentage (%)
Akun
Motor- Motor- Motor-
Car Amount Car Motor Amount Car Amount Mobil Amount
cycle cycle cycle
Expense
Financial
Charges (11) (342,877) (392,938) (93) (393,031) 50,072 82 50,154 (12.74) (88.17) (12.76)
(342,866)
Salaries and
Benefits 0 (53,368) (61,844) 0 (61,844) 8,476 0 8,476 (13.71) 0 (13.71)
Expense (53,368)
General and
Administrative 0 (21,536) (23,639) (2) (23,641) 2,103 2 2,105 (8.90) (100) (8.90)
Expense (21,536)
Provision for
Impairment (24,851) (9) (24,860) (123,716) 6 (123,710) 98,865 (15) 98,850 (79.91) (250) (79.90)
Losses
Total
(442,621) (20) (442,641) (602,137) (89) (602,226) 159,516 69 159,585 (26.49) (77.53) (26.50)
Expenses
Profit (Loss)
before Final
362,798 47 362,845 183,311 96 183,407 179,487 (49) 179,438 97.91 (51.04) 97.84
Tax and
Income Tax
Total Assets 5,142,242 171 5,142,413 6,505,706 859 6,506,565 (1,363,464) (688) (1,364,152) (20.96) (80.09) (20.97)
Total
299,780 247 300,027 328,548 311 328,859 (28,768) (64) (28,832) (8.76) (20.58) (8.77)
Liabilities
Other Segments
The Other segment comprises operational segment reporting related to treasury activities and head office, such as
bank interest income, general and administrative expenses that cannot be allocated to the two segments mentioned
above. In this segment, only assets and liabilities are included as part of treasury and headquarters activities.
Financial Performance and Profitability of Other Segments (Rp-million)
Increase/Decrease
Description 2023 2022 Amount
Contribution (%)
(Rp million)
Total Asset 1,757,623 1,433,158 324,465 18.46%
Total Liabilities 24,037,595 19,316,458 4,721,137 19.64%
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Management Discussion &
Analysis of Company Performance
Analysis of Business Segment Performance Based
on Geographic Information
Business Segments Based on Geography
In addition to being based on the main customer groups and products, the Company also presents segment information
based on geography, namely the distribution of financing services across various regions in Indonesia. The Company
categorizes the market distribution of retail financing served into 9 (nine) regions with the following geographical
coverage.
Geographic
Details on Region
(Region)
Regional I Covering the regions of the Riau Islands, Riau, and North Sumatra
Covering the regions of Bengkulu, Jambi, Bangka Belitung Islands, Lampung, West Sumatra, and South
Regional II
Sumatra
Covering the regions of Banten (including Tangerang (BSD and Bintaro), Cilegon, Serang, and Lebak
Regional III
(Rangkasbitung)), and DKI Jakarta (including North Jakarta, West Jakarta, and Central Jakarta)
Covering the regions of DKI Jakarta (including East Jakarta and South Jakarta), as well as West Java
Regional IV
(including Bekasi, Depok, and Bogor)
Covering the regions of West Java (including Karawang, Sukabumi, Bandung, Tasikmalaya, Cirebon, Garut,
Regional V
and Subang)
Regional VI Covering the regions of Central Java and Yogyakarta Special Region
Regional VII Covering the regions of East Java, Bali, West Nusa Tenggara, and East Nusa Tenggara
Regional VIII Covering the regions of Kalimantan
Regional IX Covering the regions of Sulawesi, Maluku, and Papua
Number and Contribution on Operation Segment Based on Geographic to the Revenue of MTF
Number of Revenue 2023 2022 Increase/Decrease
Based on Geographic Amount Contribution Amount Contribution Amount Contribution
(Region) (Rp million) (%) (Rp million) (%) (Rp million) (%)
Regional I (Sumatera) 313,900 6.60 248,816 6.33 65,084 26.16
Regional II (Sumatera) 409,839 8.62 388,458 9.88 21,381 5.50
Regional III
454,742 9.57 366,113 9.31 88,629 24.21
(Jabodetabek, anten)
Regional IV
467,826 9.84 344,485 8.76 123,341 35.80
(Jabodetabek)
Regional V (Jawa Barat) 312,041 6.57 255,174 6.49 56,867 22.29
Regional VI (Jawa
320,989 6.75 275,078 7.00 45,911 16.69
Tengah, Yogyakarta)
Regional VII (Jawa Timur,
487,843 10.26 380,880 9.69 106,963 28.08
Bali, NTB, dan NTT)
Regional VIII
683,728 14.39 502,048 12.77 181,680 36.19
(Kalimantan)
Regional IX (Sulawesi,
496,506 10.45 384,823 9.79 111,683 29.02
Maluku, dan Papua)
Fleet 805,486 16.95 785,633 19.98 19,853 2.53
Total Revenue 4,752,900 3,931,508 821,392 20.89
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Number and Contribution of Operation Segment Based on Geographic to the Assets of MTF
2023 2022 Increase/Decrease
Number of Asset Based
on Geographic (Region) Amount Contribution Amount Contribution Amount Contribution
(Rp million) (%) (Rp million) (%) (Rp million) (%)
Regional I (Sumatera) 1,745,446 5.9 1,200,186 5.06 545,260 45.43
Regional II (Sumatera) 1,907,732 6.42 1,749,192 7.37 158,540 9.06
Regional III
3,118,550 10.49 2,029,203 8.55 1,089,347 53.68
(Jabodetabek, Banten)
Regional IV
3,345,820 11.23 2,178,293 9.18 1,167,527 53.60
(Jabodetabek)
Regional V (Jawa Barat) 1,706,071 5.74 1,244,413 5.24 461,658 37.10
Regional VI (Jawa
1,743,026 5.86 1,369,361 5.77 373,665 27.29
Tengah, Yogyakarta)
Regional VII (Jawa Timur,
2,841,407 9.56 1,968,517 8.30 872,890 44.34
Bali, NTB, dan NTT)
Regional VIII
3,650,156 12.28 2,291,273 9.66 1,358,883 59.31
(Kalimantan)
Regional IX (Sulawesi,
2,769,148 9.32 1,758,805 7.41 1,010,343 57.44
Maluku, dan Papua)
Fleet 5,142,413 17.30 6,506,565 27.42 (1,364,152) (20.97)
Others 1,757,623 5.91 1,433,158 6.04 324,465 22.64
Total Assets 29,727,392 23,728,966 5,998,426 25.28
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Management Discussion &
Analysis of Company Performance
Financial Review
The analysis and discussion of financial performance in this annual report are based on the Financial Statements. The
presentation and disclosure of the Company’s financial statements are prepared in accordance with the Indonesian
Financial Accounting Standards (FAS), which encompass Statements and Interpretations issued by the Financial
Accounting Standards Board of the Indonesian Institute of Accountants.
Financial Position
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Assets
Cash and Cash Equivalent 852,140 840,436 11,704 1.39
Customer Financing Receivables 22,361,823 16,340,837 6,020,986 36.85
Finance Lease Receivables 5,347,572 5,643,346 (295,774) (5.24)
Factoring 35,322 32,976 2,346 7.11
Other Receivables 622,854 449,440 173,414 38.58
Deferred Tax Assets 100,789 116,452 (15,663) (13.45)
Derivative Receivables 28,933 24,534 4,399 17.93
Fixed Assets 283,625 219,763 63,862 29.06
Other Assets 94,334 61,182 33,152 54.19
Total Assets 29,727,392 23,728,966 5,998,426 25.28
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in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Liabilities
Trade Payables 1,017,137 702,291 314,846 44.83
Other Payables 247,721 300,666 (52,945) (17.61)
Current Tax Liabilities 112,000 125,498 (13,498) (10.76)
Accrued Expenses 262,098 311,622 (49,524) (15.89)
Bank Loans 18,096,715 14,661,887 3,434,828 23.43
Securities Issued 5,687,515 4,339,237 1,348,278 31.07
Employee Benefits Obligation 274,546 194,940 79,606 40.84
Total Liabilities 25,697,732 20,636,141 5,061,591 24.53
Equity
Issued and Fully Paid-Up Capital 250,000 250,000 - -
Other Comprehensive Income
Remeasurement of Employee Benefits Obligation
(38,390) (30,198) (8,192) 27.13
- net
Cumulative (Loss) on Derivative Instruments for
2,802 (6,188) 8,990 145.28
Cash Flow Hedges - net
Retained Earning
Appropriated 50,000 50,000 - -
Unappropriated 3,765,248 2,829,211 936,037 33.08
Total Equity 4,029,660 3,092,825 936,835 30.29
Assets
The Company’s total assets in 2023 and 2022 amounted to Rp29.72 trillion and Rp23.72 trillion, respectively, representing
an increase of Rp5.99 trillion or 25.28%. The majority of this increase in assets is attributable to the rise in the Costumer
Financing Receivables portfolio.
Liabilities
The total liabilities for the current year increased by 24.53% or Rp5.06 trillion from Rp20.63 trillion in 2022 to Rp25.69
trillion in 2023. The increase is primarily due to a rise in Trade Payables, which increased by Rp314.84 billion or 44.83%
from Rp702.29 billion in 2022 to Rp1.01 trillion in 2023, as well as an increase in bank loans and securities issued
occurring in 2023.
Equity
In 2023, the Company’s equity amounted to Rp4.02 trillion, representing an increase of Rp936.83 billion or 30.29%
compared to equity in 2022 of Rp3.09 trillion. This increase is attributed to the growth in the Company’s net profit.
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Management Discussion &
Analysis of Company Performance
Profit or Loss and Income Interest Income
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Revenue 4,752,900 3,931,508 821,392 20.89
Expenses (3,261,674) (2,967,514) 294,160 9.91
Income before Final Tax and Income Tax Expense 1,491,226 963,994 527,232 54.69
Final Tax Expense (3,427) (3,033) 394 12.99
Income before Income Tax Expense 1,487,799 960,961 526,838 54.82
Income Tax Expense (326,698) (210,748) 115,950 55.02
Income for the Year 1,161,101 750,213 410,888 54.77
Comprehensive Income 798 (3,067) 3,865 126.02
Total Comprehensive Income for the Year 1,161,899 747,146 414,753 55.51
Basic Earnings per Share (full Rupiah) 464 300 164 54.67
Revenue
The Company’s revenue in 2023 increased by Rp821.39 billion or 20.89% from the previous year, amounting to Rp3.93
trillion to Rp4.75 trillion. The breakdown of this revenue includes Income from Consumer Financing Income, Finance
Lease Income, Factoring Income, Interest Income, and Other Income - net amounting to Rp3.0 trillion, Rp652.75 billion,
Rp909 million, Rp17.13 billion, and Rp1.08 trillion, respectively. The increase occurred primarily in consumer financing
income by Rp563.34 billion, while a decrease in revenue was observed in factoring income by Rp8.80 billion.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Consumer Financing Income 3,000,350 2,437,004 563,346 23.12
Finance Lease Income 652,751 565,529 87,222 15.42
Factoring Income 909 9,715 (8,806) (90.64)
Interest Income 17,134 15,163 1,971 13.00
Other Income net 1,081,756 904,097 177,659 19.65
Total Revenues 4,752,900 3,931,508 821,392 20.89
Expenses
The Company’s expenses in 2023 increased by 9.91% to Rp3.26 trillion compared to the previous year of Rp2.97 trillion.
There was an increase in the Company’s financial expenses in 2023 reaching Rp1.51 trillion, up 20.85% or Rp260.59
billion compared to financial expenses in 2022 which amounted to Rp1.24 trillion. The increase was due to an increase
in bank loans.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Expenses
Financial Charges 1,510,165 1,249,572 260,593 20.85
Salaries and Benefits 802,194 823,406 (21,212) (2.58)
General and Administration 349,836 327,436 22,400 6.84
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in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Provision for Impairment Losses:
Consumer Financing 697,613 487,604 210,009 43.07
Financial Leases 7,050 49,556 (42,506) (85.77)
Factoring (9,057) 11,063 (20,120) (181.87)
Other Receivables (96,127) 18,877 (115,004) (609.23)
Total Provision for Impairment Losses 599,479 567,100 32,379 5.71
Total Expenses 3,261,674 2,967,514 294,160 9.91
Provision for Impairment Losses
The provision for impairment losses in 2023 amounted to Rp599.48 billion, marking a 5.71% increase or Rp32.38 billion
compared to 2022’s provision of Rp567.1 billion. The increase was due to an increase in the portfolio which led to an
increase in the allowance for impairment losses both in consumer financing.
Income (Loss) For the Year
The income (loss) before final tax and income tax expenses is derived from the accumulation of revenues and expenses.
With revenues and expenses as described above, in 2023, the Company recorded a income before final tax and income
tax expenses of Rp1.49 trillion, marking a 54.69% increase or Rp527.23 billion from the income (loss) before final tax
and income tax expenses. This increase is attributed to the growth in consumer financing and MTF finance lease
income in 2023, increasing by 23.12% and 15.42%, respectively, or Rp563.34 billion and Rp87.22 billion.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Income (Loss) For the Year
Revenue 4,752,900 3,931,508 821,392 20.89
Expenses (3,261,674) (2,967,514) (294,160) 9.91
Income (Loss) before Final Tax and Income Tas
1,491,226 963,994 527,232 54.69
Expenses
Final Tax Expenses (3,427) (3,033) 394 12.99
Income (Loss) before Income Tax Expenses 1,487,799 960,961 526,838 54.82
Income (Expenses) Income Tax (326,698) (210,748) 115,950 55.02
Income (Loss) For the Year 1,161,101 750,213 410,888 54.77
Total Comprehensive Income for the Year
Total comprehensive income for the year is derived from the accumulation of income (loss) for the year and other
comprehensive income. Other comprehensive income after tax in 2023 amounted to Rp1.16 trillion, experiencing a
55.51% increase or Rp414.75 billion from 2022’s figure of Rp747.15 billion. The increase in other comprehensive income
is attributed to the rise in the effective portion of gains on hedging instruments for cash flow hedging purposes.
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Management Discussion &
Analysis of Company Performance
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Total Comprehensive Income for the Year
Income (Loss) for the Year 1,161,101 750,213 410,888 54.77
Other Comprehensive Income 798 (3,067) 3,865 126.01
Item that Will Not be Reclassified to Profit or Loss
Remesaurement of Employee Benefits Obligation (10,502) 3,070 (13,572) (442.08)
Income Tax Effect 2,310 (675) 2,985 442.22
(8,192) 2,395 (10,587) (442.05)
Item that Will be Reclassified to Profit or Loss
Effective Protion of Profit on Hedging Instrument
11,525 (7,002) 18,527 264.60
in a Cash Flow Hedge
Income Tax Effect (2,535) 1,540 (4,075) (264.61)
8,990 (5,462) 14,452 264.59
Other Comprehensive Income – after tax 798 (3,067) 3,865 126.02
Total Comprehensive Income (Loss) for the Year 1,161,899 747,146 414,753 55.51
Cash Flow
Cash flow provides an overview of the Company’s cash receipts and payments. As depicted in the table above, both
the net cash used in operating activities, net cash used in investing activities, and net cash obtained from financing
activities experienced a decline, subsequently leading to a decrease in the Company’s cash and cash equivalents at
the end of the year, as outlined below.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Cash Flow from Operating Activities (4,420,498) (3,190,177) 1,230,321 38.57
Cash Flow from Investing Activities (118,954) (65,272) 53,682 82.24
Cash Flow from Financing Activities 4,551,156 3,855,503 695,653 18.04
Net Increase (Decrease) in Cash and Cash
11,704 600,054 (588,350) (98.05)
Equivalent
Cash and Cash Equivalent at Beginning of Year 840,436 240,382 600,054 249.63
Cash and Cash Flow at End of Year 852,140 840,436 11,704 1.39
Cash Flow from Operating Activities
The net cash used for operating activities in 2023 amounted to a deficit of Rp4.42 trillion, marking a 38.57% increase
from 2022’s deficit of Rp3.19 trillion. As shown in the table above, the increase in the deficit amount is attributed to
increased payments to vehicle suppliers, which rose by 17.44% from 2022, in line with the Company’s increased lending
in 2023.
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in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Cash receipts from customers
Consumer financing 24,720,154 21,507,345 3,212,809 14.94
Finance lease 4,099,252 3,845,288 253,964 6.60
Factoring 7,000 401,193 (394,193) (98.26)
Joint Financing 12,782,010 11,436,484 1,345,526 11.77
Interest income from deposit in bank 13,688 15,144 (1,456) (9.61)
Late payment penalties 148,794 134,027 14,767 11.02
Recovery from written-off receivables 179,645 152,667 26,978 17.67
Receipts of excess tax bill - 20,697 (20,697) (100.00)
Insurance premiums 1,651,382 1,408,879 242,503 17.21
Cash disbursements for
Repayments of joint financing facilities (10,632,638) (10,458,484) 174,154 1.67
Payments to car dealers (33,458,424) (28,489,839) 4,968,585 17.44
Payments for finance charges (1,492,506) (1,268,963) 223,543 17.62
Payments for income tax (324,758) (133,626) 191,132 143.04
Payments for salaries and allowances (772,663) (649,104) 123,559 19.04
Payments for general and administrative
(340,005) (264,328) 75,677 28.63
expenses
Payments to insurance companies (1,001,429) (847,557) 153,872 18.15
Net cash provided by (used in) operation
(4,420,498) (3,190,177) 1,230,321 38.57
activities
Cash Flow from Investing Activities
In 2023, the net cash used for investing activities amounted to Rp118.95 billion, marking an 82.24% increase compared
to Rp65.27 billion in 2022. The increase in net cash used for investing activities was primarily directed towards the
acquisition of fixed assets related to the expansion of infrastructure, furniture, office equipment, and buildings.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Acquisition of fixed assets (86,892) (49,896) 36,996 74.15
Acquisition of right-of-use assets (32,191) (15,731) 16,460 104.63
Sales of fixed assets 129 355 (226) (63.66)
Net cash used in investing financing
(118,954) (65,272) 53,682 82.24
activities
Cash Flow from Financing Activities
The net cash obtained from financing activities in 2023 amounted to Rp4.55 trillion, an increase compared to 2022
when the Company obtained cash from financing activities amounting to Rp3.85 trillion. This increase is attributed to
the rise in proceeds from securities issued and the decrease in payments for issued securities.
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Management Discussion &
Analysis of Company Performance
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Proceeds from bank loans 17,276,376 20,402,395 (3,126,019) (15.32)
Proceeds from securities issued 1,822,845 1,228,055 594,790 48.43
Repayment of bank loans (13,829,050) (15,330,618) (1,501,568) (9.79)
Repayment of securities issued (472,000) (2,382,000) (1,910,000) (80.18)
Payment of securities issuance costs (6,283) (3,118) 3,165 101.51
Payment of cash dividends (225,064) (49,175) 175,889 357.68
Payment of lease liabilities (15,668) (10,036) 5,632 56.12
Net cash provided by (used in) financing activities 4,551,156 3,855,503 695,653 18.04
Increase (Decrease) in Net Cash and Cash Equivalents, and Cash and Cash Equivalents at
Year End
With the accounting of net cash used for operating activities, net cash used for investing activities, and net cash
obtained from financing activities as described above, the cash and cash equivalents at the end of 2023 amounted
to Rp852.14 billion, representing a 1.39% increase from the beginning of the year position of Rp840.44 billion. This
increase is predominantly driven by funding receipt and increased financing during 2023.
Company Ability in Efficiency and Producing Profit
Key Financial Ratios
Increase
Description Unit 2023 2022
(Decrease)
Profitability
Return on assets % 4.34 3.54 0.80
Return on assets* % 5.00 4.05 0.95
Average return on assets* % 5.58 4.54 1.04
Return on equity % 28.81 24.26 4.55
Average return on equity % 32.60 27.34 5.26
Total income/total assets % 15.99 16.57 (0.58)
Income before income tax/ revenue % 31.38 24.52 (25.11)
Net profit after tax for the year/revenue % 24.43 19.08 5.35
Cost efficiency ratio % 34.34 43.08 (11.37)
Current Ratio % 1.10 1.32 (0.22)
Productive Assets
Net managed financing receivables (Rp-million) 53,061,308 45,122,742 7,938,566
Financing receivables-joint financing (Rp-million) 24,898,967 22,623,833 2,275,134
Non-performing receivables under management % 0.70 0.72 (0.02)
Liquidity
Total liabilities/total assets (times) 0.86 0.87 (0.01)
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Increase
Description Unit 2023 2022
(Decrease)
Total liabilities/total equity (times) 6.38 6.67 (0.29)
Interest debt/total equity** (times) 5.90 6.14 (0.24)
*) Using profit before tax calculations
**) Gearing Ratio
Profitability Ratio
The return on average assets ratio is used to assess the company’s ability to earn profits from all invested assets. As of
December 31, 2023, and 2022, the return on average assets ratio was 5.58% and 4.54%, respectively.
Efficiency Ratio
The Cost Efficiency Ratio (CER) for the year 2023 was recorded at 34.34%, representing a decrease compared to the
2022 figure of 43.08%. The decrease in CER is due to efficiency in costs with an increase in the Company’s revenue.
This indicates the Company’s success in growing its business, reflected in revenue growth, coupled with efficiency
strategies in expenses.
Composition of Financing Expenses
The Company’s financial expenses as of December 31, 2023, amounted to Rp1.51 trillion, an increase of 20.85% or
Rp260.59 billion.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Bank loans 1,078,119 782,314 295,805 37.81
Securities issued 354,777 397,921 (43,144) (10.84)
Bank administration and bank provision 67,902 59,561 8,341 14.00
Forex Loss/Profit 591 (166) 757 456.02
Amortization of securities issuance cost 3,716 3,614 102 2.82
Interest on lease liabilities 2,476 2,392 84 3.51
Others 2,584 3,936 (1,352) (34.35)
Total Financing Expenses 1,510,165 1,249,572 260,593 20.85
Solvency
The Company has adequate ability to fulfill short-term and long-term debt obligations. This can be seen from the
solvency ratio. Meanwhile, the liquidity ratio is a measure of the Company’s ability to pay short-term debts.
Increase
Description 2023 2022
(Decrease)
Liquidity Ratio
Current Ratio (times) 1.10 1.32 (0.22)
Cash Ratio (%) 6.75 9.63 (2.88)
Solvency Ratio
Interest Debt to Equity Ratio 5.90 6.14 (0.24)
Debt to Equity Ratio (DER) (times) 6.38 6.67 (0.29)
Debt to Asset Ratio (DAR) (times) 0.86 0.87 (0.01)
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Management Discussion &
Analysis of Company Performance
Liquidity Ratio
The Company’s liquidity reflects its ability to meet short-term liabilities using its current assets. Liquidity is measured
using the current ratio, which compares current assets to current liabilities, and the cash ratio, calculated by comparing
cash and cash equivalents to current liabilities. Current assets consist of assets maturing in less than one year. In 2023,
the Company’s current ratio was recorded at 1.10x, experiencing a decrease compared to the 2022 current ratio of 1.32x.
Similarly, the cash ratio also decreased from 9.63% in 2022 to 6.75% in 2023.
Solvency Ratio
In 2023, there was a decrease in the Debt to Equity Ratio by 0.29% from 6.67x in 2022 to 6.38x, and the Debt to Assets
Ratio also decreased by 0.01 to 0.86x in 2023 compared to the previous year.
in million Rupiah
Over 6
Less than a 1-6 More than Has no Carrying
Description months to 1
month months a year contract due Value
year
Assets
Cash and cash equivalents 833,946 - - - - 833,946
Consumer financing receivables 887,083 4,015,096 4,313,239 13,494,299 - 22,709,717
Finance lease receivables 298,722 1,388,490 1,346,157 2,383,496 - 5,416,865
Factoring 650 3,250 3,901 27,957 - 35,758
Other receivables 596,485 70,667 - - - 667,152
Derivative Receivables - 28,933 - - - 28,933
Other Assets 49,049 - - - - 49,049
Total Assets 2,665,935 5,506,436 5,663,297 15,905,752 - 29,741,420
Liabilities
Trade Payables 1,017,137 - - - - 1,017,137
Other Payables 166,897 5,925 6,872 25,379 - 205,073
Accrued Expenses 2,113 259,985 - - - 262,098
Loans Received 1,206,954 3,878,098 4,312,389 8,699,274 - 18,096,715
Securities issued - 1,114,812 657,799 3,914,904 - 5,687,515
Total Liabilities 2,393,101 5,258,820 4,977,060 12,639,557 - 25,268,538
Total Maturity Gap 272.834 247.616 686.237 3.266.195 - 4.472.882
The table below shows the remaining contractual maturities of financial liabilities based on undiscounted cash flows
as of December 31, 2023.
in million Rupiah
Over 6
Less than a More than a Has no
Description 1-6 months months to 1
month year contract due
year
Liabilities
Trade Payables 1,017,137 - - - 1,017,137
Other payables 166,897 5,925 6,872 25,379 205,073
Accrued Expenses 2,113 259,985 - - 262,098
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in million Rupiah
Over 6
Less than a More than a Has no
Description 1-6 months months to 1
month year contract due
year
Bank Loans 1,299,278 4,274,763 4,658,637 9,149,680 19,382,358
Securities issued 31,036 1,288,053 804,667 4,344,767 6,468,523
Total Liabilities 2,516,461 5,828,726 5,470,176 13,519,826 27,335,189
Financing Facilities and Accounts Receivable
Collectibility
In conducting its business, the Company always adheres to the principle of prudence. Every credit application
undergoes a meticulous credit analysis process and various approval stages. Conservative portfolio management
is carried out by progressively establishing provisions for all receivables that have entered the doubtful category.
Currently, the Company implements provisions for doubtful receivables based on a review of the balance status at the
end of the period.
The Company consistently manages problematic financing by emphasizing the principle of prudence and maintaining
the compliance of its consumers to make payments on time by reminding, collecting, and repossessing. The Company
also has a credit rescue division called the Account Receivable Management Division, led by the Account Receivable
Division Head, who oversees several Account Receivable Department Heads, and each Account Receivable Department
Head will oversee several Remedial Heads and Collection Heads.
Consumer Financing Receivables Overdue Based on Installment Overdue
in million Rupiah
2023 2022 Increase (Decrease)
Description
Rp % Rp % Rp %
Total Receivables 56,405,366 100.00 46,507,804 100.00 9,897,562 21.28
Current 53,888,430 95.54 44,534,718 95.75 9,353,712 21.00
1 – 90 days overdue 2,030,050 3.60 1,626,085 3.50 403,965 24.84
91 – 120 days overdue 227,964 0.40 158,343 0.34 69,621 43.97
121 – 180 days overdue 250,250 0.44 167,501 0.36 82,749 49.40
> 180 days overdue (non-performing
8,672 0.02 21,157 0.05 (12,485) (59.01)
receivables)
Consumer Financing Receivables
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Total Receivables 27,898,155 20,787,497 7,110,658 34.21
Unearned consumer financing income (5,188,438) (4,113,082) 1,075,356 26.14
Net consumer financing receivables 22,709,717 16,674,415 6,035,302 36.19
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Management Discussion &
Analysis of Company Performance
Finance Lease Receivables Overdue Based on Installment Overdue
in million Rupiah
2023 2022 Increase (Decrease)
Description
Rp % Rp % Rp %
Total Receivables 6,265,251 100.00 6,657,743 100.00 (392,492) (5.90)
Current 5,998,708 95.75 6,438,020 96.70 (439,312) (6.82)
1 – 90 days overdue 244,470 3.90 189,920 2.85 54,550 28.72
91 – 120 days overdue 6,605 0.10 9,150 0.14 (2,545) (27.81)
121 – 180 days overdue 15,468 0.25 20,653 0.31 (5,185) (25.11)
> 180 days overdue (non-performing
- - - - - -
receivables)
Finance Lease Receivables
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Total Receivables 6,236,631 6,554,932 (318,301) (4.86)
Unearned consumer financing income (819,766) (772,907) (46,859) 6.06
Net consumer financing receivables 5,416,865 5,782,025 (365,160) (6.32)
Accounts Receivable Overdue Based on Installment Overdue
in million Rupiah
2023 2022 Increase (Decrease)
Description
Rp % Rp % Rp %
Total Receivables 50,954 100.00 42,561 100.00 8,393 19.72
Current 50,954 100.00 42,561 100.00 8,393 19.72
1 – 90 days overdue - - - - - -
91 – 120 days overdue - - - - - -
121 – 180 days overdue - - - - - -
> 180 days overdue (non-performing receivables) - - - - - -
Factoring Receivables
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Total Receivables 50,954 42,561 8,393 19.72
Unearned consumer financing income (15,196) (92) (15,104) 16417.39
Net consumer financing receivables 35,758 42,469 (6,711) (15.80)
Credit Quality Ratio of Assets
The credit quality ratio of financial assets that can depict credit risk. As of December 31, 2023, the credit risk exposure
of financial assets is divided as follows:
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in million Rupiah
Neither past due nor
impaired Allowance for
Past due but
Description Impaired impairment Total
Standard not impaired
High grade losses
grade
Cash and cash
833,946 - - - - 833,946
equivalents
Consumer financing receivables
Individual 11,292,015 10,399,885 840,361 177,456 (347,894) 22,361,823
Consumer finance lease receivables
Corporate 3,048,322 2,137,678 211,784 19,081 (69,293) 5,347,572
Factoring receivables - 35,758 - - (436) 35,322
Other receivables 667,152 - - - (44,298) 622,854
Derivative Receivables 28,933 - - - - 28,933
Other Assets 49,049 - - - - 49,049
Total Assets 15,919,417 12,573,321 1,052,145 196,537 (461,921) 29,279,499
Explanation of the credit quality division provided for receivables that have not matured and have not experienced
impairment:
1. High grade: Receivables that have never been overdue previously.
2. Standard grade: Receivables that have been overdue previously but have not experienced any delays in principal
and interest payments up to the present.
Consumer financing receivables and lease financing receivables with installment payments overdue for more than
90 days are classified as impaired financial assets. As collateral for the consumer financing receivables provided, the
Company receives collateral from consumers in the form of Motor Vehicle Ownership Certificates (“BPKB”) for the
motor vehicles financed by the Company.
The following table shows the aging analysis of matured receivables that have not experienced impairment:
1-30 days 31-60 days 61-90 days Total
Description
(Rp-million) (Rp-million) (Rp-million) (Rp-million)
Consumer financing receivables
Individual 486,720 189,653 163,988 840,361
Finance lease receivables
Corporate 106,102 42,875 62,807 211,784
Total Assets 592,822 232,528 226,795 1,052,145
Productive Assets
The Company’s productive assets consist of Managed Consumer Financing Receivables, Non-Performing Loans (NPLs),
Liquidity and Solvency, as well as other financial information. In detail, the acquisition of productive assets is as
follows:
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Managed Net Financing Receivables (Rp-million) 53,061,308 45,122,742 7,938,566 17.60
Joint Financing Receivables (Rp-million) 24,898,967 22,623,833 2,275,134 10.06
Managed Non-Performing Receivables (%) 0,70 0,72 (0,02) (2.78)
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Management Discussion &
Analysis of Company Performance
Capital Structure and Management Policy on Capital
Structure
Capital Structure Policy
The Company’s objective in managing its capital is to maintain the Company’s business continuity to provide returns
to shareholders and benefits to other stakeholders, and to optimize capital structure to reduce capital costs. In order
to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders,
return on capital to shareholders, or issue new shares to reduce loans. Consistent with other industry players, the
Company monitors capital based on the gearing ratio. This ratio is calculated from net loan value (including Bonds
and Medium-Term Notes) divided by the amount of capital. The amount of capital is taken from the equity stated in
the financial position statement.
In managing capital, the Company conducts monthly analysis to ensure that the Company continues to comply with
OJK Regulation No. 35/POJK.05/2018 dated Desember 27, 2018 concerning the Implementation of Financing Company
Business which regulates provisions as follows:
1. The minimum paid-up capital of the Company is Rp100,000,000,000.
2. The minimum equity of the Company is 50.00% of the paid-up capital.
3. The amount of loans held by the Company compared to its own capital and subordinated debt less contributions
(gearing ratio) is set at a maximum of 10 times, both for foreign and domestic loans.
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Loans 18,096,715 14,661,887 3,434,828 23.43
Securities Issued 5,687,515 4,339,237 1,348,278 31.07
Loan Amount 23,784,230 19,001,124 4,783,106 25.17
Equity 4,029,660 3,092,825 936,835 30.29
Gearing Ratio (times) 5,90 6,14 (0,24) (3.91)
The Company consistently maintains a maximum gearing ratio lower than the provisions set through alternative
financing analysis, whether through bank loans, bond issuances, or optimizing joint financing funds. The Company
also calculates the cost of funds from the chosen financing alternatives to ensure that these funds can generate
maximum income for the Company.
Based on the Financial Services Authority Regulation No. 35/POJK. 05/2018 dated December 27, 2018 concerning
“Business Implementation of Financing Companies”. The Company has met the minimum amount of equity and the
Maximum Lending Limit. The Company has calculated several ratios, among others:
in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Capital ratio (%) 16,21 21,77 (5,56) (25.54)
Equity to fully paid capital ratio (%) 1,611,86 1,237,13 424,73 34.33
Non-Performing Finance–neto ratio (%) 0,48 0,46 0,02 4.35
Non-Performing Finance–gross ratio (%) 0,70 0,72 (0,02) (2.78)
Net financing receivables to total assets ratio (%) 93,33 92,79 0,54 0.58
Net financing receivables to total funding ratio
116,65 115,87 0,78 0.67
(%)
Balance of receivables for investment
financing and working capital financing to total 19,77 26,56 (6,79) (25.56)
balance of the financing receivables ratio (%)
Gearing ratio (time) 5,90 6,14 (0,24) (3.91)
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in million Rupiah
Increase (Decrease)
Description 2023 2022
Rp %
Total Equity (Rp-million) 4,029,660 3,092,825 936,835 30.29
Total Liabilities and Equity (Rp-million) 29,727,392 23,728,966 5,998,426 25.28
Details of Capital Structure
The composition of funding between loans and equity of the Company can be seen in the table and graph below.
in million Rupiah
2023 2022 Increase (Decrease)
Description
Rp % Rp % Rp %
Bank Loans 18,096,715 65.06 14,661,887 66.36 3,434,828 23.43
Securities Issued 5,687,515 20.45 4,339,237 19.64 1,348,278 31.07
Loan Amount 23,784,230 85.51 19,001,124 86.00 4,783,106 25.17
Equity 4,029,660 14.49 3,092,825 14.00 936,835 30.29
Total 27,813,890 100.00 22,093,949 100.00 5,719,941 25.89
Gearing ratio (time) 5,90 - 6,14 - (0,24) (3.91)
Material Commitments for Investment In Capital Goods
The Company does not have any material commitments for investment in capital goods.
Realization of Investment in Capital Goods
Table of Investment in Capital Goods
2023
Types of Capital Goods Purpose
(Rp million)
Buildings Supporting Company’s business growth 2,460
Office Equipment Supporting Company’s business growth 70,147
Leasehold Improvement Supporting Company’s business growth 14,285
Right-of-Use Assets Supporting Company’s business growth 45,080
Total 131,972
Investment in capital goods in 2023 amounted to Rp131,972 million, which is higher than in 2022, amounting to Rp79,01
million, with the increase mainly driven by growth in office equipment investments during 2023.
Impact of Foreign Currency Exchange Rates
Transactions in foreign currencies are translated into Indonesian Rupiah using the exchange rates prevailing on the
transaction dates. As of the financial position statement date, monetary assets and liabilities in foreign currencies are
translated using the exchange rates prevailing on the financial position statement date. Gains and losses from foreign
currency transactions and from the conversion of monetary assets and liabilities in foreign currencies are recognized
in the income statement and other comprehensive income. As of December 31, 2023, the exchange rate used was the
Bank Indonesia mid-rate of Rp15,416 (full amount) for 1 US Dollar (“USD”), and as of December 31, 2022, it was Rp15,731
(full amount).
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Management Discussion &
Analysis of Company Performance
Material Information and Facts Occurring
Subsequent to the Accounting Report Date
During the period from January 1, 2024, until the issuance of this annual report, there have been material information
and facts. The material information and facts are as follows:
1. On January 4, 2024, MTF redeemed PUB IV Phase I Series B 2019 bonds amounting to Rp200,000,000,000, with an
interest rate of 9.75%.
2. On January 11, 2024, MTF signed an extension of the Short-Term Loan facility with PT Bank CTBC Indonesia amounting
to Rp200,000,000,000, with an availability period until December 7, 2024.
3. Signing of the Regular JF Cooperation Agreement between PT Mandiri Tunas Finance and Commercial Banking Bank
Mandiri for the Increase in Financing Facility to Rp6 Trillion on January 29, 2024.
Comparison Between Targets and Realization, as
Well as One-Year Projections
Comparison of Targets and Realization
At the beginning of the 2023 fiscal year, the Company set a number of targets to be achieved as outlined in the 2023
RKAP. The comparison of the achievement of some of the set targets with the realization in the 2023 fiscal year is as
follows:
Operational and Marketing Target Achievement
Target
Realization in
Description 2023 Target Achievement
2023
(%)
New Financing Disbursement (Rp-million) 31,500,000 32,697,903 103.80
Financing Receivables Balance (Rp-million) 25,931,337 28,162,340 108.60
Revenue (Rp-million) 4,417,520 4,752,900 107.59
Income for the Year (Rp-million) 1,001,357 1,161,101 115.95
Capital Structure/Gearing Ratio (kali) 5.64 5.90 104.61
NPF Gross (%) 1.00 0.70 0.70
NPF Netto (%) 0.74 0.48 64.86
Net Interest Margin (times) 4.26 4.42 103.76
Cost of Education and Training (Rp-million) 10,682 7,300 68.34
The performance achievement in 2023 has been satisfactory, as evidenced by the targets and results achieved. New
financing disbursement in 2023 reached Rp32.69 trillion, or 103.80% of the Rp31.50 trillion target. This fairly good
achievement is mainly attributed to investment financing and multi-purpose financing, which exceeded the targets.
The achievement in new financing disbursement has impacted the outstanding financing balance, which recorded
a 108.60% achievement against the 2023 target. These good financing achievements have also impacted profit
performance. The Company’s revenue realization in 2023 reached 107.59%, while the net profit realization for the
current year reached 115.95% of the target.
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One-Year Projection
Entering into 2024, the Company has set several targets outlined in the 2024 RKAP, including:
Description Realization in 2023 Projection in 2024
New Financing Disbursement (Rp-million 32,697,903 36,000,000
Financing Receivables Balance (Rp-million) 28,162,340 31,909,214
Revenue (Rp-million) 4,752,900 6,329,378
Income for the Year (Rp-million) 1,161,101 1,332,516
Dividend Payment (Rp-million) 225,064 116,110
Capital Structure/Gearing Ratio (kali) 5.90 5.02
NPF Gross (%) 0.70 0.80
NPF Netto (%) 0.48 0.58
Net Interest Margin (times) 4.42 4.48
Cost of Education and Training (Rp-million) 7,300 10,981
Business Prospect and Performance Projection for 2024
In 2023, the Company maintained its position as one Gaikindo’s target for 2024 opens opportunities for
of the top three financing companies with the largest financing companies, especially those primarily focusing
automobile financing portfolio in Indonesia. The on four-wheeled vehicles, to provide financing for new
Company reached a new milestone with total managed cars and increase market share.
assets exceeding 50 trillion and recorded a profit of
Rp1.16 trillion, representing a growth of 54.77% (YoY). The Indonesian Financing Companies Association
(APPI) projects a 12-13% growth in multifinance industry
Amidst global geopolitical uncertainties and economic financing receivables in 2024. Two factors serve as
growth influencing factors, Bank Indonesia remains catalysts for the multifinance industry’s potential
optimistic, projecting Indonesia’s economic growth double-digit growth: Indonesia’s 5.00% economic
to remain robust in 2024, ranging from 4.7-5.5%, with growth and the growing consumer purchasing power.
inflation expected to be controlled within the target
range of 2.5±1%. This is supported by consistent The Company aspires to become the Market Leader in
monetary policies, fiscal policies, and the National 2024. To achieve this, the Company needs to strengthen
Movement for Controlling Food Inflation (GNPIP). In its position through market penetration optimization
2023, Bank Indonesia increased the benchmark interest across all segments and business sources, including
rate (BI rate) to 6.00% to strengthen the stability of the Retail, Wholesale, and Multiguna segments. Aligned
rupiah exchange rate and ensure controlled inflation. In with business growth, the Company will continue to
2024, Bank Indonesia considers lowering the benchmark strengthen its foundation and internal readiness in
interest rate or BI rate in the second semester of 2024, all aspects to grow bigger, healthier, and sustainably.
in line with controlled inflation at 2.5±1% and stable In 2024, the Company targets new financing above 36
rupiah exchange rates. The projected decrease in the BI trillion with a profit growth of 33.00% compared to
rate will impact the reduction of financing interest rates 2023.
in Indonesia, presenting an opportunity for financing
companies in the country. The Company adopts the theme ‘Energizing the New
Foundation: be the Market Leader’ for 2024, signifying
In 2024, GAIKINDO targets total domestic car sales of the Company’s intention to optimize the newly built
1,100,000 units, with the multipurpose vehicle (MPV) foundation from previous years with more energy and
segment, especially low MPV and low-cost green car enthusiasm, aiming to lead in the Financing Industry.
(LCGC), continuing to dominate sales in Indonesia.
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Management Discussion &
Analysis of Company Performance
Dividend Policy and Its Distribution Basis of Dividend Distribution Policy
Dividend Policy 1. Company’s Articles of Association Article 18
Before the end of the financial year, the Company is paragraph 1:
obliged to set aside a certain amount of net profit for The Company’s Net Profit in one financial year as
reserves, and this provision is made until the reserves stated in the balance sheet and income statement
reach at least 20% of the total issued and paid-up which has been ratified by the Annual GMS and is a
capital. positive profit balance, divided according to its use
as determined by the GMS.
Based on Law No. 40 of 2007 concerning Limited Liability 2. The Shareholders Agreement No. 5 dated February 6,
Companies, the distribution of dividends is made based 2009 Article 14 paragraph 1 :
on the decision of the General Meeting of Shareholders Dividend distribution can be made if there is a
(GMS). The use of net profit, including the determination positive profit balance and as long as the financial
of the amount of reserves for reserves, is decided by the conditions of TFS have taken into account the reserve
GMS, and in the absence of any other decision, the entire value according to the shareholders’ policy and have
net profit after deducting the reserves for reserves is achieved the annual profit target, with the amount
distributed to shareholders as dividends. of dividends ranging from 35-40% of the net profit of
TFS unless otherwise determined in the GMS.
Chronology of Dividend Distribution
The chronology of the Company’s dividend distribution in the last 2 financial years is as follows:
Dividend Year of 2023 Dividend Year of 2022
Description
(Stock Dividends for Book Year 2022) (Stock Dividends for Book Year 2021)
Net Profit (Rp million) 750,213 245,880
Total Dividend (Rp million) 225,064 49,175
Dividend per Share (Rp) 90,03 19,67
Payout Ratio (%) 30 20
Date of Announcement June 28, 2023 June 17, 2022
Payment Date July 6, 2023 Juni 24, 2022 and July 12, 2022
Tax Compliance
The Company contributes to the country through fulfilling the Company’s obligations as a taxpayer and as a tax
withholder/collector. As a taxpayer, the Company’s largest contribution is fulfilling the Corporate Income Tax (PPh)
obligation. The PPh paid for the year 2023 amounted to Rp319.11 billion, an increase of Rp171.37 billion compared to
2022, which was recorded at Rp147.74 billion.
Tax Obligation Fulfillment
in million Rupiah
Increase (Decrease)
Office Tax Regulation 2023 2022
Rp %
Corporate Income Tax (PPh/CIT) 319,107 147,737 171,370 115,99
Central
Value Added Tax (VAT) 109,628 78,875 30,753 38,99
PPh with Parent Entity 131,021 98,653 32,368 32,81
Regional
Property Tax 127 163 (36) (22,09)
Total 559,883 325,428 234,455 72,05
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Employee and/or Management Stock Option
Program (ESOP/MSOP
Until the end of 2023, the Company did not have an Employee Stock Option Program (ESOP) and/or Management Stock
Option Program (MSOP). The Company has also never conducted an Initial Public Offering of Shares as a corporate
action that allows ownership of shares by the public and/or management and/or employees. Therefore, there is no
information regarding ESOP/MSOP conducted by the Company.
Material Information Regarding Investment,
Expansion, Divestment, Mergers, Acquisitions, Debt/
Capital Restructuring
There is no material information regarding investment, expansion, divestment, business mergers, acquisitions, and/
or debt/capital restructuring in 2023.
Realization of the Use of Funds from Public Offerings
The realization report of the use of funds from the public offering of bonds conducted by the Company in 2023 is
presented below.
Report on the Realization of Use of Proceeds from the Public Offering of 2023 Continuing Bonds
Description Realization in 2023
Types of Public Offering Continuous Public Offering of MTF Series VI Continuing Bonds Phase I 2023
Effective Date June 27, 2023
Realization Value of Public Offering
Total Public Offering Funds 691,735,000,000
Public Offering Fee 4,186,431,788
Net Funds 687,548,568,212
Plan for the Use of Funds
Working Capital 687,548,568,212
Total 687,548,568,212
Realization of the Use of Funds
Working Capital 687,548,568,212
Total 687,548,568,212
Remaining Funds from Public Offering -
Description Realization in 2023
Types of Public Offering Continuous Public Offering of MTF Series VI Continuing Bonds Phase II 2023
Effective Date June 27, 2023
Realization Value of Public Offering
Total Public Offering Funds 1,131,110,000,000
Public Offering Fee 2,847,350,397
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Management Discussion &
Analysis of Company Performance
Description Realization in 2023
Net Funds 1,128,262,649,603
Plan for the Use of Funds
Working Capital 1,128,262,649,603
Total 1,128,262,649,603
Realization of the Use of Funds
Working Capital 1,128,262,649,603
Total 1,128,262,649,603
Remaining Funds from Public Offering -
Information on Material Transactions that Involve
Conflicts of Interest and/or Transactions with
Affiliated Parties
Conflict of Interest Transactions and/or Transactions with Affiliated Parties
Conflict of Interest refers to the difference between the economic interests of the Company and the personal economic
interests of members of the Board of Directors, members of the Board of Commissioners, or major shareholders that
may harm the Company.
Affiliate Transactions are transactions conducted by the Company or Controlled Companies with Affiliates of the
Company or Affiliates of members of the Board of Directors, members of the Board of Commissioners, or major
shareholders of the Company.
Policy on Related Parties
The Company has transactions with related parties. A party is considered related to the Company if:
1. An individual or close family member has a relationship with the Company if the individual:
a. has control or joint control over the Company;
b. has significant influence over the Company; or
c. is a key management personnel of the Company or the parent entity of the Company.
2. An entity is related to the Company if it meets any of the following:
a. The entity and the Company are members of the same group of companies (meaning the parent entity,
subsidiary entities, and subsequent subsidiary entities are related to each other).
b. One entity is an associate or joint venture of another entity (or an associate or joint venture that is a member
of a group of companies, of which the other entity is also a member).
c. Both entities are joint ventures of the same third party.
d. One entity is a joint venture of a third party, and the other entity is an associate of the third party.
e. The entity is a post-employment benefit plan for the benefit of employees of the Company or entities related
to the Company. If the Company is the entity that administers the plan, then the sponsor entity is also related
to the Company.
f. The entity is controlled or jointly controlled by the individual identified in (a).
g. The individual identified in (a)(i) has significant influence over the entity or is a key management personnel of
the entity (or the parent entity of the entity.
All transactions with related parties have been disclosed in the notes to the financial statements..
Fairness and Reasons for Transactions
In the normal course of business, the Company transacts with related parties due to ownership and/or management
relationships. Transactions with related parties are conducted under the same terms and conditions as transactions
with unrelated parties. The Company receives similar interest rates for bank loan facilities from related parties and
third parties. The Company also uses similar interest rates between related parties and third parties in providing
consumer financing.
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Reasons for Transactions
All transactions conducted by the Company, including transactions with related parties, are carried out for business
development purposes.
Names and Nature of Relationships
Related parties are companies and individuals with direct or indirect ownership or management relationships with the
Company. The table below shows the details of related parties with the Company and the nature of these transactions.
Nature of Relationship with the
Name of Related Parties Nature of Transaction
Related Parties
Fund placement, financing cooperation (joint
financing disbursement), financing cooperation
(joint financing installments), bank loans,
PT Bank Mandiri (Persero) Tbk Controlling shareholder
accrued interest, current account services,
other receivables, other payables, financial
expenses.
PT Tunas Ridean Minority Shareholder Other receivables
Controlled by Dana Pensiun Bank Other assets, other payables, financial
PT Bumi Daya Plaza
Mandiri expenses, general and administrative expenses
Placement of deposit current account, the
Controlled by PT Bank Mandiri
PT Bank Mandiri Taspen current account, and interest on the deposit,
(Persero) Tbk
other assets
PT AXA Insurance Indonesia (dahulu/ Associate Entity of PT Bank
Acceptance of claim
formerly PT Mandiri AXA General Insurance) Mandiri (Persero) Tbk
Controlled by PT Bank Mandiri
PT Bank Syariah Indonesia Tbk Other income
(Persero) Tbk
Dana Pensiun Bank Mandiri Bank Mandiri as Founder Bondholder
PT Surya Sudeco Controlled by PT Tunas Ridean Other payables, financial expenses.
Placement of current account, the current
PT Bank Rakyat Indonesia (Persero) Tbk State-owned enterprise
account
Claims acceptance receivables, claim
PT Asuransi Jasa Indonesia (Persero) State-owned enterprise
acceptance income
PT Sarana Multigriya Finansial (Persero) State-owned enterprise Accrued expenses, borrowings, finance charges
Perum Jaminan Kredit Indonesia State-owned enterprise Accounts receivable insurance bonds claims
PT Balai Pustaka (Persero) State-owned enterprise Financing receivables, financing income
Placement of funds, accrued expenses, bank
PT Bank Tabungan Negara (Persero) Tbk State-owned enterprise
loans, finance charges
State-owned enterprise (SOE)
PT Kimia Farma Apotek Financing receivables, financing income
subsidiary
State-owned enterprise (SOE)
PT Kimia Farma Diagnostika Financing receivables, financing income
subsidiary
State-owned enterprise (SOE)
PT Kimia Farma Trading & Distribution Financing receivables, financing income
subsidiary
Bank Rakyat Indonesia as the
DPLK Bank Rakyat Indonesia Bonds
founder
Key management personnel of
Personil manajemen kunci grup Financing receivables, financing income
Bank Mandiri Group
Board of Commissioners and
Karyawan kunci Board of Directors of the Employee Benefits
Company
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Management Discussion &
Analysis of Company Performance
Realization of Related Parties Transactions
In million Rupiah
2023 2022 Increase (Decrease)
Balance of Related Parties
Rp % Rp % Rp %
Assets
Cash and cash equivalents – cash in banks 782,451 2.63 761,281 3.2 21,170 2.78
Time deposits 50,000 0.17 50,000 0.2 0 0.00
Consumer Financing Receivables 11,542 0.04 7,846 0 3,696 47.11
Other receivables 547,483 1.84 499,942 2.1 47,741 9.55
Prepaid rent 902 0.00 251 0 651 259.36
Total Assets associated with Related Parties 1,392,378 4.68 1,319,320 5.56 73,058 5.54
Total Assets 29,727,392 23,728,966 5,998,426 25.28
Liabilities
Other Payables 56,805 0.22 100,736 0.5 (43,931) (43.61)
Accrued Expenses 4,472 0.02 3,535 0 937 26.51
Loans 2,891,252 11.25 1,944,839 9.4 946,413 48.66
Securities Issued 693,000 2.70 468,500 2.3 224,500 47.92
Total Liabilities associated with Related
3,645,529 14.19 2,517,610 12.20 1,127,919 44.80
Parties
Total Liabilities 25,697,732 20,636,141 5,061,591 24.53
Revenues
Consumer Financing 807 0.02 767 0 40 5.22
Deposit in Bank 16,191 0.34 14,530 0.4 1,661 11.43
Others 8 0.00 564 0 (556) (98.58)
Total Revenue associated with Related
17,006 0.36 15,861 0.4 1,145 7.22
Parties
Total Revenues 4,752,900 3,931,508 821,392 20.89
Expenses
Salaries and benefits – Board of
Commissioners and Board of Directors 29,006 0.89 22,237 0.8 6,769 30.44
compensation
Financial charges 159,003 4.87 101,366 3.42 57,637 56.86
General and Administrative Expenses 7,224 0.22 5,727 0.2 1,497 26.14
Total Expenses associated with Related
195,233 5.99 129,330 4.36 65,903 50.96
Parties
Total Expenses 3,261,674 2.967.514 294,160 9.91
Compliance with Regulations and Relevant Provisions
The aforementioned affiliated/related transactions constitute routine, recurring, and/or ongoing business activities. These
transactions are conducted through a mechanism of fair transaction review and compliance with applicable regulations. In
the year 2023, there were no affiliated/related transactions or conflicts of interest transactions resulting from the execution
of affiliated and/or conflicts of interest transactions that required approval from independent shareholders.
Board of Directors Statement on Compliance with Adequate Procedures and Common
Business Practices
The Board of Directors affirms that all affiliated/related transactions of the Company have undergone adequate
procedures to ensure that affiliated transactions are conducted in accordance with common business practices and
adhere to the arms-length principle.
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Role of the Board of Commissioners and Audit Committee in Ensuring Transactions are
Conducted in Accordance with Common Business Practices, including Compliance with
the Arms-Length Principle
The Board of Commissioners and Audit Committee have reviewed and approved all affiliated/related transactions
conducted by the Company, ensuring that these transactions have undergone adequate procedures, are conducted in
line with common business practices, and comply with the arms-length principle.
Balance and Realization of Related Party Transactions in 2023
In million Rupiah
2023 2022 Increase (Decrease)
Balance of Related Parties
Rp % Rp % Rp %
Assets
Cash and cash equivalents – cash in banks 782,451 2.63 761,281 3.21 21,170 2.78
Time deposits 50,000 0.17 50,000 0.21 0 0.00
Consumer Financing Receivables 11,542 0.04 7,846 0.03 3,696 47.11
Other receivables 547,683 1.84 499,942 2.11 47,741 9.55
Prepaid rent 902 0.00 251 0 651 259.36
Total Assets associated with Related Parties 1,392,378 4.68 1,319,320 5.56 73,058 5.54
Total Assets 29,727,392 23,728,966 5,998,426 25.28
Liabilities
Other Payables 56,805 0.22 100,736 0.49 (43,931) (43.61)
Accrued Expenses 4,472 0.02 3,535 0.02 937 26.51
Loans 2,891,252 11.25 1,944,839 9.42 946,413 48.66
Securities Issued 693,000 2.70 468,500 2.27 224,500 47.92
Total Liabilities associated with Related Parties 3,645,529 14.19 2,517,610 12.20 1,127,919 44.80
Total Liabilities 25,697,732 20,636,141 5,061,591 24.53
Revenues
Consumer Financing 807 0.02 767 0.02 40 5.22
Deposit in Bank 16,191 0.34 14,530 0.4 1,661 11.43
Others 8 0.00 564 0 (556) (98.58)
Total Revenue associated with Related Parties 17,006 0.36 15,861 0.4 1,145 7.22
Total Revenues 4,752,900 3,931,508 821,392 20.89
Expenses
Salaries and benefits – Board of Commissioners
29,006 0.89 22,237 0.8 6,769 30.44
and Board of Directors compensation
Financial charges 159,003 4.87 101,366 3.42 57,637 56.86
General and Administrative Expenses 7,224 0.22 5,727 0.2 1,497 26.14
Total Expenses associated with Related Parties 195,233 5.99 129,330 4.36 65,903 50.96
Total Expenses 3,261,674 2,967,514 294,160 9.91
Reference to Related Party Transactions in the Financial Statements
Information regarding transactions with related parties is available in the audited financial statements for the year
2023, which are included in this Annual Report.
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Management Discussion &
Analysis of Company Performance
Financial Information Containing Extraordinary and
Rare Events
In 2023, there were no extraordinary or rare events or transactions.
Spot and Derivative Transactions
In 2023, there were no spot or derivative transactions or events.
Changes in Laws and Regulation Affecting the Company
in the Last Fiscal Year
No Regulation Penjelasan Pengaruh Terhadap perusahaan
As the Controller of Personal Data, the
Regulations governing provisions on
1 Law No. 27 of 2022 Company has an obligation to comply with
Personal Data Protection (PDP).
the Personal Data Protection Law.
Regulations governing the development The Company will ensure that its business
2 Law No. 4 of 2023 and strengthening of the financial activities also comply with the provisions
sector contained in this Law.
Regulations governing the
The Company is obliged to implement Anti-
implementation of Anti-Money
Money Laundering, Counter Financing of
Laundering (AML) programs, Counter
Financial Services Authority Terrorism, and Prevention of Financing of
3 Financing of Terrorism (CFT), and
Regulation No. 8 of 2023 Proliferation of Weapons of Mass
Prevention of Financing of Proliferation
Destruction programs by aligning with the
of Weapons of Mass Destruction
company's internal regulations.
(FPWMD) in the financial services sector.
Regulations governing the enhancement The Company is required to implement
Financial Services Authority of financial literacy and inclusion in the measures related to the implementation of
4
Regulation No. 3 of 2023 financial services sector for consumers financial literacy and inclusion as stipulated
and the public. in the POJK.
Regulations governing consumer and The Company is required to implement
Financial Services Authority
5 public protection in the financial consumer protection measures by adapting
Regulation No. 22 of 2023
services sector to internal regulations.
Regulations governing the use of public The Company is required to comply with the
Financial Services Authority accounting services and public regulations regarding the use of public
6
Regulation No. 9 of 2023 accounting firms in financial services accounting services and public accounting
activities. firms as stipulated in the POJK.
Regulations governing the procedures The Company is required to comply with the
Financial Services Authority
for using the services of public regulations regarding the use of public
7 Circular Letter No. 18/
accountants and public accounting accounting services and public accounting
SEOJK.03/2023
firms in financial services activities. firms as stipulated in the POJK.
The Company is required to comply with the
Regulations governing the application
Financial Services Authority provisions based on the SEOJK, such as
for licensing, approvals, and electronic
8 Circular Letter No. 20/ submitting licensing applications, obtaining
reporting for financing companies and
SEOJK.06/2023 approvals, and electronically reporting in
sharia financing companies.
accordance with the regulations stipulated.
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04
Changes in Accounting Policies Applied by
the Company in The Last Fiscal Year
In 2023, the Company adopted accounting standards considered relevant but not significantly affecting revenue and
profitability as follows:
1. Amendment to PSAK 1: Presentation of Financial Statements on Accounting Policy Disclosures
2. Amendment to PSAK 16: Property, Plant, and Equipment – Pre-usage earnings intensification
3. Amendment to PSAK 25: Accounting Policies, Changes in Accounting Estimates, and Correction of Errors related to
Accounting Estimate Definitions
4. Amendment to PSAK 46: Income Taxes on deferred taxes related to assets and liabilities arising from derivative
transactions
Business Continuity Information
Throughout 2023, there were several factors that potentially The International Monetary Fund (IMF) projects that
impacted the sustainability of the Multifinance Industry in Indonesia’s economic growth will remain steady at 5%
Indonesia, including the increase in the BI rate and the until 2027, accompanied by a decrease in inflation to 2.3%
decline in the growth of new car sales. In Q4 2023, Bank by 2027. This projection is in line with Bank Indonesia’s
Indonesia raised the benchmark interest rate (BI rate) by 25 forecast, where economic growth could reach 4.7-5.5%
bps from 5.75% to 6.00% as a measure to control inflation. in 2024 and increase to 4.8-5.6% in 2025. Inflation will
However, the increase in the BI rate had a significant impact remain controlled within the target range of 2.5±1% in
on the rise in market interest rates, leading to an increase 2024 and 2025.
in borrowing costs for the Financing Industry, resulting in
adjustments to the interest rates charged to customers. On The Financial Services Authority (OJK) projects that
the other hand, the achievement of new car sales in 2023 the growth rate of the Financing Industry could reach
experienced a growth slowdown of -1.53%, with total sales a minimum average of 8% in the period of 2024-2027,
reaching 998 thousand units, lower than the achievement provided that Indonesia’s real GDP growth is 5.5% and
in 2022 of 1,014 thousand units. inflation rate is 1.5-3.5%. Assuming no influence from
Covid-19, automotive and heavy equipment financing
Although both factors affected the Financing Industry will grow by around 5% per year, while the growth rate
overall, the Company’s business continuity remains in good of other business sectors will average 17% per year over
condition. This is reflected in the total disbursement of the next 5 years.
new financing, which grew by 17.75%, and new financing for
cars, which grew by 22.63%. From the automotive market In leveraging opportunities and business prospects in
perspective, the number of new car units financed by the the next 5 years, the Company has developed a long-
company also grew by 7.13% compared to 2022. term strategic plan for the period of 2023-2027 with the
theme ‘Strengthening Leading Position through Synergy
Business Prospects & Sustainable Business Growth’. In addition to focusing
By the end of 2023, the Multifinance business experienced on new financing for cars, heavy equipment, and
double-digit growth. Based on APPI data as of December multifunctional purposes, the Company also supports
2023, the Financing Industry recorded a total of Rp530.82 OJK initiatives related to Green Financing by channeling
trillion in new financing, representing a growth of 16.45% new financing for electric vehicles, SMEs, and other
(YoY) compared to Rp456 trillion in 2022. This growth was green financing-based financing.
supported by a 12.23% increase in car financing, a 10.83%
increase in heavy machinery/equipment financing, and
a 24.15% increase in financing for other types of assets
(motorcycles, electronics, and other portfolios).
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Management Discussion &
Analysis of Company Performance
Corporate Soundness Level
MTF Soundness Level (TKS) in 2023 can be seen in the Table below.
No. Rating Factor Rating
1 Good Corporate Governance 1
2 Risk Profile 1
3 Rentability 2
4 Capital 1
Company Soundness Level Rank PK-1
Company Soundness Level Very Healthy
Soundness Level Criteria (TKS) for Financing Companies on OJK Circular Letter No. 11/SEOJK.05/2020
Composite Rating Description
PK-1 “Very Healthy“
PK-2 “Healthy“
PK-3 “Fairly Healthy“
PK-4 “Less Healthy“
PK-5 “Not Healthy“
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04
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05 Good Corporate Governance
Page 143
Page 144
Good Corporate
Governance
Implementation Commitment of Good Corporate
Governance
PT Mandiri Tunas Finance (”MTF,” ”the Company”) recognizes the importance of implementing good corporate
governance (GCG) principles in every business activity as a foundation for achieving the Company’s vision and mission
sustainably. Therefore, the Company continually enhances the quality of implementing GCG structures and processes
at every level of the organization to ensure business sustainability and deliver better GCG outcomes, adding value to
shareholders and stakeholders.
In practice, the implementation of GCG principles, among others, is carried out through the Corporate Culture that is
inherent in all organs of the Company in carrying out activities. In addition, the Company also manifests this through
services with integrity and professionalism. In addition, the Company always update its implementation standards in
line with developments in laws and regulations applicable to MTF’s business activities as well as with developments
in the industry.
Within the framework of GCG implementation, the Company has mapped stakeholders that are relevant to MTF, as is
presented through the following schematic:
Mandiri Tunas Finance Relationship with Shareholders and Stakeholders
Shareholders
Governance Public Shareholders
Mandiri Tunas Finance
Shareholders Regulator
Directors & Board of Commissioners Creditor Consumer
Professional
Employee Organization Working Partner/
Associate/
Public/ Supplier/Vendor
Community
Basis and Commitment to GCG Implementation
The Company emphasizes the adoption of best practices in implementing corporate governance (GCG) that are
applicable to the industry, along with the latest developments. It consistently sets high standards for Good Corporate
Governance within the Company, including following the general guidelines of GCG in Indonesia issued by the
National Committee on Governance Policy (KNKG) and the corporate governance roadmap in Indonesia issued by the
Financial Services Authority (OJK). The implementation of Good Corporate Governance is also implemented based
on OJK Regulation No. 29/POJK.05/2020 concerning Amendments to Financial Services Authority Regulation No. 30/
POJK.05/2014 concerning Good Corporate Governance for Financing Companies (‘’POJK Governance’’) and Financial
Services Authority Circular Letter (SEOJK) No. 15/SEOJK.05/2016 concerning Report on the Implementation of Good
Corporate Governance for Financing Companies (‘’SEOJK Governance’’).
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05
One of the Company’s commitments to implementing good corporate governance (GCG) principles is consistently
refreshing employees’ understanding of GCG principles in their daily business activities through regular awareness
campaigns.
Objectives of GCG Implementation
The Company aims of implementing GCG principles refers to POJK Governance, namely:
1. Optimizing the Company’s value for the Stakeholders, especially Debtors, Creditors, and/or other Stakeholders;
2. Improving the Company management in a professional, effective and efficient manner;
3. Improving the compliance of the Company Organs and the SSB as well as the ranks under them, to ensure that
decision-making process and carrying out actions are based on high ethics, compliance with laws and regulations,
and awareness of the Company’s social responsibility towards Stakeholders, as well as environmental sustainability;
4. Creating a healthier, more reliable, trustworthy, and competitive Company that complies with the consumer
protection principles;
5. Increasing the Company’s contribution to the national economy.
GCG Principles
In order to achieve its vision and fulfill its mission, the Company is committed to adhering to the five fundamental
principles of Good Corporate Governance (GCG) as regulated in POJK Governance, which are as follows:
1. Transparency
2. Accountability
3. Responsibility
4. Independence
5. Fairness
The following is the description of the basic principles above and general application within the Company:
Description According to
Basic Principle Application within Mandiri Tunas Finance
POJK No. 29/POJK.05/2020
Transparency Transparency in the decision The Company considers the transparency principle as openness in
making process as well as in the disclosing relevant material information in an accurate and timely
disclosure and provision of manner. The Company discloses such material information not only
relevant information regarding the to the shareholders but also to the entire stakeholders. Therefore, it
Company, which is easily accessible is expected that shareholders and stakeholders are able to find out
by Stakeholders in accordance business development of the Company earlier. The implementation
with laws and regulations in the of this principle is realized by the Company through the following:
financing sector, as well as • Penyusunan dan penerbitan Laporan Tahunan yang tersedia
standards, principles, and di halaman website Perusahaan.
practices for the implementation • Penyusunan dan penjelasan rencana bisnis Perseroan
of a sound financing business • Laporan keuangan berkala yang meliputi laporan keuangan
triwulan dan tahunan.
• Tersedianya laporan keterbukaan informasi terkait kegiatan
usaha Perseroan.
• Segala informasi dan data terkait perusahaan yang telah di
sediakan pada situs web Perseroan untuk pemegang saham
dan seluruh pemangku kepentingan.
Accountability Clarity of functions and The accountability principle is implemented by the Company by
implementation of corporate establishing clear functions, structures, systems, and responsibilities
organ responsibilities to ensure for each organ in the Company, allowing the management of the
that the Company performance Company to be run effectively. Through the implementation of the
can run in a transparent, fair, accountability principle, there is clarity of functions, rights,
effective, and efficient manner. obligations, authorities, and responsibilities among Employees,
Board of Directors, Board of Commissioners, and Shareholders as
well as in every part of the Company.
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Good Corporate
Governance
Description According to
Basic Principle Application within Mandiri Tunas Finance
POJK No. 29/POJK.05/2020
Responsibility Conformity of the Company The Company defines the responsibility principle as compliance
management with the laws and with both operational procedures as well as applicable laws and
regulations in the financing regulations in every business activity carried out. Responsibility is
sector and ethical values as well also followed by the commitment to performing business activities
as standards, principles, and based on good ethical standards. Moreover, the supervision carried
practices for the implementation out by the Board of Commissioners is further enhanced on the
of a sound financing business. Company management by the Board of Directors so that it can run
effectively, accompanied by demands for achieving targets against
the Board of Directors. This principle is applied by the Company
through the following:
• Compliance with the provisions of the Company’s articles of
association and applicable laws and regulations.
• Implementation of tax obligations in a proper and timely
manner.
• Implementation of CSR programs and activities.
• Implementation of information disclosure obligations
according to regulations.
Independency The Company condition that is The Company defines independence as conducting the duties,
managed independently and obligations and authorities of each of the Company’s organs without
professionally, as well as free from interference from other Company organs or other parties that are
conflicts of interest and influence not in accordance with the applicable laws and regulations.
or pressure from any party that is Independence is manifested through, among others, by mutual
not in accordance with the laws respect for the roles and functions of each of Company’s organs and
and regulations in the financing the decisions of the Company management through the Company’s
sector and ethical values as well as Board of Directors decisions. The independence principle is highly
standards, principles, and needed, especially in the decision-making process or management
practices for the implementation policies that must be carried out objectively and place the interests
of a sound financing business. of the Company as a top priority. The implementation of this
principle is applied by the Company through the following:
• Mutual respect for the rights, obligations, duties, authorities,
and responsibilities among the Company’s organs.
• Shareholders and the Board of Commissioners do not
intervene in the Company management.
• The Board of Commissioners, Board of Directors, and all
employees always avoid conflicts of interest in making
decisions.
• Company activities with conflicts of interest are required to
obtain prior approval from independent shareholders or
their authorized representatives at the GMS as stipulated,
and comply with regulations regarding conflicts of interests.
Fairness Equality, balance, and fairness in The Company defines fairness or equality as equal treatment of all
fulfilling the stakeholders’ rights interested parties according to the applicable laws and regulations.
that arise based on agreements, In practice, among others, the Company always maintains good
laws and regulations, and ethical relations with employees and avoids discriminatory practices and
values as well as standards, respects their rights, including avoiding employee discrimination
principles, and practices for the related to ethnic, religious, racial, or gender backgrounds. This
implementation of a sound principle is applied by the Company through the following policies:
financing business • Shareholders have the right to attend and vote in the GMS in
accordance with applicable regulations.
• The Company reports information regarding partners to
stakeholders in a fair and transparent manner.
• The Company provides good and safe working conditions for
the entire employees following the Company’s capabilities
and applicable laws and regulations, as well as periodic
performance assessment and equal promotion opportunities
for all employees.
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05
Governance Structure and Process/ Mechanism
Applicable Laws and Formal Regulations:
• Law of the Republic of Indonesia
• Ministerial Regulation
• Financial Services Authority (OJK) Regulation
• Indonesia Stock Exchange (IDX) Regulation
Company Articles of Association
Vision, Mission, Values, and Corporate Culture
Some Other References
• Indonesian General Guidelines on Good
Corporate Governance 2006 issued by
GCG Softstructure the National Committee on Governance
GCG
(Mechanism: Policy on October 17, 2006 (“Indonesian
Infrastructure
Company GCG General Guidelines KNKG”).
(Main Organ
Operational • ISO 26000 on Social Responsibility
and Supporting
Policies and Guidelines.
Organ)
Procedures) • OECD 2004 Principles of Corporate
Governance and Asian Corporate
Governance Scorecard (ACGS).
Implementation and Monitoring of GCG
within Mandiri Tunas Finance.
Corporate Governance Structure and Mechanism
Good Corporate Governance (GCG) is both a system and a structure designed to instill confidence in all stakeholders
that the Company is managed and controlled to protect their interests in line with regulations and principles.
Governance Structure
The structure of Good Corporate Governance (GCG), as regulated by Law No. 40 of 2007, is depicted in the main organs
of the company:
• General Meeting of Shareholders (RUPS)
This is the Company’s organ with authority not delegated to the Board of Directors or the Board of Commissioners
within the limits stipulated in the Limited Liability Company Law No. 40 of 2007 and/or the Articles of Association.
• Board of Commissioners
This is the Company’s organ responsible for general and/or specific supervision in accordance with the Articles of
Association and providing advice to the Board of Directors.
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Good Corporate
Governance
• Board of Directors
This is the Company’s organ authorized and fully responsible for managing the Company for the benefit of the
Company, in line with the purposes and objectives of the Company, and representing the Company both within and
outside the court as stipulated in the Articles of Association.
In addition to the Company’s main organs, MTF also has supporting organs that assist the Board of Commissioners and
Directors in overseeing and running the Company’s operational activities to achieve the vision and mission. The organ
structure is incorporated in the Good Corporate Governance structure at Mandiri Tunas Finance as follows as follows:
Corporate Governance Structure of Mandiri Tunas Finance
TRANSPARENCY ACCOUNTABILITY RESPONSIBILITY INDEPENDENCY FAIRNESS
GMS
Board of
Board of Directors
Commissioners
Audit Committee Corporate Secretary
Nomination &
Risk Management
Remuneration Committee
Risk Monitoring Internal Audit
Committee
Legal & Compliance
UKK APU PPT
ALCO
Credit Committee
Risk Management
Committee
Anti-Fraud
Committee
Information Technology
Steering Committee
External Auditor (Independent Audit)
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The success of implementing GCG within the Company relies heavily on the relationships among the Company’s organs.
Based on the applicable laws and regulations, the roles and authorities of the General Meeting of Shareholders
(RUPS), the Board of Directors, and the Board of Commissioners have been clearly delineated. These three organs of
the Company always interact based on the principles of collaboration and mutual respect, recognizing and respecting
each other’s functions and roles, aided by supporting bodies and acting in the best interests of the Company. Every
decision and action taken is grounded in good faith, moral values, and compliance with laws and regulations, as well
as the Company’s policies. The Company is conscious of its social responsibility to stakeholders and environmental
sustainability in the surrounding areas.
Corporate Governance Mechanism
The GCG mechanism consists of various regulations and policies that regulate the scope of responsibility of the GCG
organs and the working relationship between the GCG organs, including with both internal and external stakeholders.
The Company has established a GCG mechanism, including the Articles of Association and Good Corporate Governance
Guidelines, that has been ratified. The Company continues to make improvements to its GCG policies (soft-structured
GCG) to ensure that they align with the needs of business processes and the provisions for GCG implementation for the
Company. In addition to the GCG guidelines, the Company also drafted the Code of Conduct, Board Manual, Gratuity
Control Guidelines, Whistle Blowing System Guidelines, Audit Committee Charter, Internal Audit Charter, and various
policies and procedures to support GCG implementation. All of these policies and procedures aim to encourage the
Company to be able to make checks and balances in every business activity based on the applicable GCG principles.
Policy and Procedure Establishment
Deed No. 38 dated 23 December 2022, made before Ir. Nanette Cahyanie Handari Adi Warsito,
Articles of Association
S.H., Notary in Jakarta.
Good Corporate Governance Stipulated by Decree No. 03, effective since 1 April 2016, and has been approved by the Board
Guidelines of Directors
Board Manual (Board of
Commissioners and Board of Stipulated on 27 August 2015, which has been signed by the Board of Commissioners
Directors Handbook)
Code of Conduct/CoC Stipulated on 11 March 2013
Updated and ratified on 30 July 2020, as well as signed by all members of the Board of
Audit Committee Charter
Commissioners and Audit Committee.
Nomination & Remuneration
Stipulated on 4 August 2015, which has been signed by the Board of Commissioners
Committee Charter
Risk Monitoring Committee Stipulated on 24 November 2016, which has been signed by all members of the Risk Monitoring
Charter Committee and the Board of Commissioners
Updated and ratified by the Board of Directors and approved by the Board of Commissioners
Internal Audit Charter
on 30 November 2020.
Stipulated through SOP No. 03/PGN/06/2016 which was issued on 23 December 2016, and
Corporate Secretary Charter
revised on 14 December 2018, which has been approved by the Board of Directors.
Internal Control System Stipulated through SOP No. 03/PGN/01/2016 and effective since 28 December 2016, which has
Guidelines been approved by the Board of Directors.
Determined through SOP No. 03/PGN/07/2016, which was issued on 27 December 2016 and
Risk Management Guidelines
revised on 11 November 2019, which has been approved by the Board of Directors.
Procurement of Goods and Ratified through SOP No. 02/PGA/01/2017, effective since 1 June 2017 and approved by the
Services Guidelines Board of Directors, revised on 11 November 2019 and approved by the Board of Directors.
Ratified through SOP No. 03/PGN/10/2018, effective since 17 September 2018 and revised on 15
Gratuity Control Guidelines
November 2019 and 1 September 2020, which has been approved by the Board of Directors.
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Good Corporate
Governance
Good Corporate Governance Socialization and
Internalization
As a manifestation of the Company’s commitment to consistently adhere to business activities and operational
implementations in accordance with the principles of Good Corporate Governance (GCG), the Company ensures
provision of socialization sessions on GCG for both new and existing employees. Throughout the year 2023, the
Company conducted 5 (five) GCG socialization sessions, outlined as follows:
No Tanggal Material of Training Division/Regional/HC Program Branch/HC Program Name
1 March 6, 2023 Good Corporate Governance Employee Development Managemenet Trainee (MT) Batch 15
Supervisor Development Program
2 April 10-14, 2023 Good Corporate Governance Employee Development
(SDP) Batch 17
Supervisor Development Program
3 August 3-9, 2023 Good Corporate Governance Employee Development
(SDP) Batch 18
Supervisor Development Program
4 August 3-9, 2023 Good Corporate Governance Employee Development
(SDP) Batch 19
5 August 11, 2023 Good Corporate Governance Employee Development Managemenet Trainee (MT) Batch 16
Development of Good Corporate Governance
Implementation and Appreciation In 2023
In 2023, the Company was honored with the Trusted Companies 2023 award at the Corporate Governance Perception
Index (CGPI) Awards ceremony. CGPI is a research and ranking program assessing the implementation of GCG practices
in companies through surveys generating the Corporate Governance Perception Index (CGPI) score. The CGPI Awards
are organized by The Indonesian Institute for Corporate Governance (IICG) in collaboration with SWA Magazine, and
participation includes companies from listed entities, State-Owned Enterprises (SOEs), Regional-Owned Enterprises
(ROEs), Banking, Islamic Banking, and Non-Bank Financial Institutions (IKNBs).
Assessment: Evaluation, Monitoring, and Improving
The Implementation of Good Corporate Governance
Periodically, the Company conducts an assessment of the implementation of Good Corporate Governance (GCG) (GCG
Assessment) to measure the level of compliance with GCG in the Company, in accordance with applicable regulations
and laws. The evaluation of GCG principles aims to measure the effectiveness of the implemented GCG as a basis for
making improvements to all GCG implementation policies within the Company’s scope. The assessment is conducted
through 2 (two) methods, namely Self-Assessment of Governance of Finance Companies and Mandiri Group Businesses,
as well as external party assessment through Corporate Governance Perception Index (CGPI) rating.
.
The Method of GCG Implementation Assessment in the MTF Scope consists of 2, namely:
Self-Assessment External party
on the Corporate assessment through
Governance of the Corporate
Financing Companies Governance
and the Mandiri Group Perception Index
Business Group (CGPI) rating.
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Self-Assessment on the Corporate Governance of Financing Companies and the Mandiri
Group Business Group
The main GCG implementation assessment carried out by the Company is periodic assessments using the Self-
Assessment approach, which refers to 2 (two) characteristics of the Company’s entities, namely as a finance company
that complies with OJK regulations, and as part of the Mandiri Group, which is bound by a Financial Conglomerate.
The Basis and Assessment Method
The GCG assessment through the Self-Assessment approach refers to 2 (two) provisions, namely:
1. POJK No. 29/POJK.05/2020 on Amendments to OJK Regulation No. 30/ POJK.05/2014 on Good Corporate Governance
for Financing Companies and SEOJK No. 15/SEOJK.05/2016 on Report on the Implementation of Good Corporate
Governance for Financing Companies.
With detailed discussion as follows:
a. Implementation of duties and responsibilities of the Board of Directors, Board of Commissioners and Sharia
Supervisory Board;
b. Completeness and implementation of duties of committees and work units performing internal control
functions;
c. Handling of Conflicts of Interest;
d. Implementation of compliance, internal audit, and external audit functions;
e. Implementation of risk management and systems internal control;
f. Implementation of remuneration policies;
g. Transparency of financial and non-financial conditions;
h. Business plans as work plans and annual budgets as well as Long-term plans;
i. Disclosure of share ownership of members of the Board of Directors and the Board of Commissioners that
reaches 50% or more;
j. Financial and family relationship of the Board of Directors;
k. Financial and family relationship of the Board of Commissioners;
l. Disclosure of other important matters to the OJK.
2. POJK No. 18/POJK.03/2014 and SEOJK No. 15/SEOJK.03/2015 on Implementation of Integrated Governance for
Financial Conglomerates.
With detailed discussion as follows:
a. Requirements for prospective members of the Board of Directors and Board of Commissioners;
b. Requirements for prospective members of the Sharia Supervisory Board;
c. Structure of the Board of Directors and Board of Commissioners;
d. Structure of the Sharia Supervisory Board;
e. Action independency of the Board of Commissioners;
f. Implementation of FSI management functions by the Board of Directors;
g. Implementation of the supervisory function by the Board of Commissioners;
h. Implementation of the supervisory function by the Sharia Supervisory Board;
i. Implementation of the compliance function, internal audit function, and implementation of external audit;
j. Implementation of risk management functions;
k. Remuneration policy; and
l. Management of conflicts of interest.
The Company carries out the assessment of Good Corporate Governance implementation internally, in which the
assessment is conducted independently to ensure that the assessment outcome reflects the actual condition.
GCG Implementation Assessment for the 2022 and 2023 Fiscal Year
Criteria 2023 2022
Type of Assessment Self Assessment Self Assessment
Assessor Internal of the Company Internal of the Company
Implementation
January 1, 2023 to December 31, 2023 January 1, 2022 to December 31, 2022
Period
Year 2023 Fiscal Year 2022 Fiscal Year
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Good Corporate
Governance
Details of the Company’s GCG Implementation Self-Assessment Outcome for the 2022-2023 Fiscal Year
2023 2022
No. Aspect
Semester 1 Semester 2 Semester 1 Semester 2
1 Board of Directors 1.33 1.33 1.44 1.22
2 Board of Commissioners 1.70 1.40 1.50 1.30
3 Sharia Supervisory Board N/A N/A N/A N/A
4 Integrated Governance Committee 1.00 1.00 1.00 1.00
5 Compliance Unit (T) 1.50 1.50 1.75 1.50
6 Internal Audit Unit (T) 1.00 1.00 1.33 1.33
7 Implementation of Risk Management (T) 1.40 1.40 1.40 1.40
8 Integrated Governance Guidelines (T) 1.33 1.33 1.33 1.33
9 Conflicts of Interest 1.00 1.00 1.00 1.00
10 Remuneration Policy 1.00 1.00 1.00 1.00
Final Score 1.25 1.22 1.31 1.23
Self-Assessment Result of Integrated Governance Implementation for 2022-2023 Fiscal Year
Year Ranking/Score Ranking Definition
The Financial Conglomerate has implemented Integrated Governance, which is generally very
good. This is reflected in adherence to the principle of Integrated Governance implementation.
2023 1
In case there are weaknesses in the Integrated Governance implementation, these weaknesses,
in general, are less significant and can be immediately corrected by the Main Entity and/or FIS.
The Financial Conglomerate has implemented Integrated Governance, which is generally very
good. This is reflected in adherence to the principle of Integrated Governance implementation.
2022 1
In case there are weaknesses in the Integrated Governance implementation, these weaknesses,
in general, are less significant and can be immediately corrected by the Main Entity and/or FIS.
Follow-up on GCG Implementation Assessment Outcome for 2022 Fiscal Year
The Company’s commitment to improving GCG implementation is by following up on recommendations in the GCG
assessment. Follow-ups from the results of the 2022 GCG implementation assessment are as follows:
1. Refinement and updating of Standard Operating Procedures (SOPs) for Procurement, Fleet Financing, Human Capital
(HC) Training, HC Deputy Officer, Control Policies, Compliance SOPs, APU PPT & PPPSPM SOPs, Vehicle Insurance
SOPs, Retail Financing SOPs, Finance SOPs, Cash & Bank SOPs, Treasury SP, Policy Setting SOPs, Procedures &
Correspondence, Information & Technology SOPs, and Corporate Communication SOPs.
2. To support business processes and enhance company integrity, planning for the implementation of anti-bribery
measures through ISO 37001 Anti-Bribery Management System (ABMS) certification was carried out in 2023.
3. The Company also fulfilled the requirements for the SMART Anti-Money Laundering (AML) system to identify and
analyze transactions and debtor profiles as part of regulatory reporting compliance and to implement POJK No. 8 of
2023 on the Implementation of Anti-Money Laundering Programs, Terrorism Financing Prevention, and Prevention
of Proliferation Financing of Weapons of Mass Destruction in the Financial Services Sector.
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Assessment by External Party - Corporate
Governance Perception Index (CGPI)
The Company regularly participates in the annual Corporate Governance Perception Index (CGPI) survey held by the
Indonesian Institute for Corporate Governance (IICG), which generates ratings and various recommendations for GCG
implementation within the Company.
Basis and Method of Assessment
CGPI develops an assessment method and aspects that consists of 2 (two) stages, namely the analysis and observation
stages. The analysis stage is carried out by filling out a questionnaire (self-assessment) and evaluating the documents
of the participating companies, followed by the observation stage through executive exposure and discussions with
the participating company organs. CGPI assessment aspects include the governance structure, governance process,
and governance outcome.
CGPI assessment uses mandatory reference for GCG implementation and generally accepted best practices as well
as an approach through the stakeholders’ perspective, where relationships with all stakeholders are increasingly
important in maintaining the Company’s business continuity in the long-term.
Assessment Score
Every year, the Company’s assessment score continues to improve as a result of the ongoing improvements made
by the Company in the implementation of Good Corporate Governance (GCG). The progress of the Company’s CGPI
assessment score over the past 5 (five) consecutive years can be seen in the chart below.
CGPI Assessment Score 2019-2023
83.1
82.03
80.5
81.71
81.5
2019 2020 2021 2022 2023
Result of GCG Implementation Assessment 2022-2023
Assessment Aspects & 2023 2022
No.
Indicators Weight Final Score Weight Final Score
1 Governance Structure Aspect 33.10 27.70 23.33 22.98
2 Governance Process Aspect 32.81 27.28 31.79 31.41
3 Governance Outcome Aspect 34.09 28.12 28.12 27.64
4 Total CGPI Score & Rating 100.00 83.10 100.00 82.03 (Trusted)
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Good Corporate
Governance
Follow-up of GCG Implementation 2022
The CGPI assessment score for MTF in 2022 is 82.03, categorizing the Company into the ”Reliable” group. This CGPI
result reflects a significant achievement, indicating that the Company’s organs and all members have been committed
and made sincere and consistent efforts in implementing Good Corporate Governance (GCG) and managing the
transformation of the company’s business model based on GCG principles. This movement is towards creating value
for stakeholders.
Based on the GCG assessment results, MTF received several recommendations as areas for improvement in the process
of enhancing the quality of GCG implementation within the Company, including:
1. Conceptual Recommendations
a. The company is expected to continuously develop skill-building programs consistently and sustainably.
b. The Company is expected to develop the concept of agility based on the principles of GCG through corporate
business planning, by setting comprehensive and integrated strategic objectives with its policies, programs,
and strategic activities.
2. Technical Recommendations
a. The Company is expected to design sustainable business agility development initiatives.
b. The Company is expected to diligently implement skill-building programs that have been initiated and conduct
regular evaluations.
c. The Company is expected to adapt the application of corporate governance concepts that have evolved in the
global system framework, based on quality system standards (such as ISO).
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Structure of Good Corporate Governance Organs
The structure of the Good Corporate Governance (GCG) The Authority of GMS
organs consists of the General Meeting of Shareholders The authority of the General Meeting of Shareholders
(RUPS), the Board of Commissioners, and the Board of (GMS) includes appointing and dismissing Directors and
Directors. The Company adheres to the two-tier system, Commissioners, deciding on the allocation of tasks and
which includes the Board of Commissioners and the management authority among Directors, requesting
Board of Directors. Each tier has clear authority and accountability from the Board of Commissioners and
responsibilities in accordance with their respective the Board of Directors for the management of the
functions as mandated by regulations, laws, and the Company, changing the capital, amending the Articles
Articles of Association. The Company also includes of Association, planning the use of profits, mergers,
several important aspects that play a role in supporting consolidations, acquisitions, and dissolution of the
the strengthening of control and management of the Company, as well as the establishment of subsidiaries.
Company, consisting of supporting organs, which include
the Corporate Secretary, Internal Audit, Risk Management, Shareholders of MTF
and several comm ittees and other units under theBoard Shareholders, as capital owners, have rights and
of Directors; up to the Audit Committee, Nomination & responsibilities in accordance with the regulations and
Remuneration Committee, and Risk Monitoring Committee, articles of association of the Company. The Company’s
which are under the Board of Commissioners. In addition, shareholders consist of PT Bank Mandiri (Persero) Tbk
there is an independent audit process for financial with a stake of 51% and PT Tunas Ridean with a stake of
reports and other reports, which is conducted by external 49%.
accountants to strengthen control, especially regarding
the Company’s performance reports. This structure is in Rights and Responsibilities of Shareholders
accordance with the provisions of regulations in force in The Company continues to fulfill and take into account the
Indonesia. rights of Shareholders in fairness without differentiating
between the Majority or Minority Shareholders. The
General Meeting of Shareholders (GMS) fairness in fulfilling the rights of all shareholders can
The General Meeting of Shareholders (“GMS”) is the be observed from disseminating information at the
Company’s organ with authority not delegated to the pre-meeting, during the meeting, and post-meeting of
Board of Commissioners or the Board of Directors within GMS as stipulated in the prevailing regulations. Prior
the limits stipulated in the Articles of Association and to the implementation of the GMS, the Company will
applicable laws and regulations. announce the GMS within 14 days at the latest from the
determination of the GMS implementation date.
Type of GMS
According to the provisions of the Company Law (UUPT) The rights of Shareholders, including:
and the Company’s Articles of Association, the General 1. Proposing and approving the appointment and
Meeting of Shareholders (RUPS) consists of: dismissal of the Board of Commissioners and Board
1. Annual General Meeting of Shareholders (RUPS of Directors.
Tahunan): This is a routine annual meeting that 2. Approving amendments to the Articles of Association,
includes the Annual GMS for the Approval of including the capital change.
the Annual Report and Ratification of Financial 3. Approving the merger, consolidation, acquisition,
Statements, as well as the Annual GMS for the and separation of the Company, request submission
Approval of the Work Plan and Company Budget. for the Company to be declared bankrupt, and
2. Extraordinary General Meeting of Shareholders dissolution of the Company.
(RUPS Luar Biasa - RUPSLB): This is a meeting held at 4. Requesting report and explanation on certain matters
any time when it is deemed necessary to discuss and to the Board of Directors and Board of Commissioners
make decisions on specific matters that are urgent of the Company by taking into account the prevailing
and significant. regulations in the Capital Market in Indonesia.
5. Each one share provides 1 (one) voting right.
As mentioned in Article 91 of the Company Law, 6. Attending and expressing opinions at the GMS.
Shareholders can also make decisions outside the 7. Receiving dividend and residual assets of the
GMS (“Circular GMS Decision”) that have the same liquidity proceeds.
legally binding force as a physical GMS. The Circular 8. Implementing other rights based on applicable laws
GMS Decision has legal validity equivalent to a GMS and regulations.
decision, provided that all shareholders with voting
rights approve it in writing by signing the decision.
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Good Corporate
Governance
The Company’s GMS Implementation Mechanism
In terms of the procedure for holding the GMS, the Company refers to Law No. 40 of 2007 on Limited Liability Companies
and the Company’s Articles of Association, as well as other related regulations.
Implementation of the General Meeting of Shareholders (GMS) in 2023
Throughout the year 2023, physical or face-to-face RUPS meetings were not held. However, the Company held RUPS
meetings twice, namely:
a. 1 (one) Annual General Meeting of Shareholders held through circular resolution as stated in the Statement of
Decisions of the Annual General Meeting of Shareholders for the Fiscal Year 2022 of PT Mandiri Tunas Finance,
numbered 137 dated June 28, 2023. The agenda and decisions were as follows:
Agenda Resolution and Realization
Approval of the Company's Annual 1. Approve the Company's Annual Report, including the Supervisory Board's Oversight
Report and the Supervisory Board's Report, for the fiscal year ending on December 31, 2022, and authorize the
Oversight Report, as well as the Company's Financial Statements for the fiscal year ending on December 31, 2022,
Ratification of the Company's which have been audited by the Public Accounting Firm (KAP) Purwantono,
Financial Statements for the fiscal Sungkoro, & Surja (a member firm of Ernst & Young Global Limited), with the
year ending on December 31, 2022. opinion "Present fairly, in all material respects," as stated in Report Number
This includes granting discharge and 00031/2.1032/AU.1/09/0242-3/1/I/2023 dated January 23, 2023.
full settlement (volledig acquit et de 2. With the approval of the Company's Annual Report, including the Supervisory
charge) of responsibility to all Board's Oversight Report, for the fiscal year ending on December 31, 2022, and the
members of the Board of Directors endorsement of the Company's Financial Statements for the fiscal year ending on
and the Board of Commissioners of December 31, 2022, through this Circular Resolution, it is hereby granted discharge
the Company in connection with the and full settlement (volledig acquit et de charge) of responsibility to all members
management and supervision of the of the Board of Directors and the Board of Commissioners in connection with the
Company conducted during the fiscal management and supervision of the Company conducted during the fiscal year
year ending on December 31, 2022, as ending on December 31, 2022, to the extent that such actions are not criminal acts
long as these activities are reflected and are reflected in the Annual Report and Financial Statements for the fiscal year
in the annual report. ending on December 31, 2022.
3. Full discharge and settlement of responsibility (volledig acquit et de charge) are
also granted to Mr. Anton Zulkarnain, who has served as a Commissioner of the
Company since January 1, 2022.
Realization:
The Annual Report for the 2022 period was approved on April 6, 2023, by the President
Commissioner and the President Director of the Company. The Financial Statements for
the period ending on December 31, 2022, were ratified by the Company's Director on
January 23, 2023. Both reports have been submitted to the regulatory authorities in
accordance with applicable regulations.
Status: Realized
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Agenda Resolution and Realization
Approval of the Utilization of the 1. Approve and determine the utilization of the Company's Net Profit for the Fiscal
Company's Net Profit for the Fiscal Year 2022 amounting to Rp 750.213.273.330 (seven hundred fifty billion two hundred
Year ending on December 31, 2022. thirteen million two hundred seventy-three thousand three hundred thirty rupiah).
With details as follows:
a. A sum of 30% (thirty percent) of the Company's net profit is designated as
dividends, amounting to Rp 225.063.981.999 (two hundred twenty-five billion).
b. A sum of 70% (seventy percent) of the Company's net profit is designated as
retained earnings, amounting to Rp. 525.149.291.331 (five hundred twenty-five
billion one hundred forty-nine million two hundred ninety-one thousand three
hundred thirty-one rupiah).
2. Authorize and empower the Company's Board of Directors to determine the
procedures for allocating the aforementioned net profit of the Company in
accordance with the prevailing laws and regulations.
Realization:
The Company has distributed dividends to its shareholders in accordance with the
decision of the Annual General Meeting of Shareholders (GMS).
Status: Realized
Approval for the Appointment of the 1. Appointing the Public Accounting Firm Purwantono, Sungkoro & Surja (a member
Public Accounting Firm and Auditors firm of Ernst & Young Global Limited) and Certified Public Accountant Danil Setiadi
to audit the Company's Financial Handaja, CPA, to audit the Company's Financial Statements for the fiscal year
Statements for the fiscal year ending ending on December 31, 2023.
on December 31, 2023, and the 2. Granting authority to the Board of Commissioners of the Company to determine
determination of their fees/ the honorarium and other requirements for the Public Accounting Firm and Public
remuneration. Accountant, as well as appointing substitute Public Accounting Firm and/or Public
Accountant in case the Public Accounting Firm Purwantono, Sungkoro & Surja (a
member firm of Ernst & Young Global Limited) and/or the Public Accountant Danil
Setiadi Handaja, CPA, is unable to complete the audit process of the Company's
Financial Statements for the fiscal year ending on December 31, 2023, for any
reason.
If a replacement for the Public Accounting Firm and/or Public Accountant is necessary,
the Board of Commissioners shall report to the shareholders.
Realization:
The audited financial statements for the period ending December 31, 2023, have been
completed and certified on January 22, 2024, utilizing the services of the Public Accounting
Firm Purwantono, Sungkoro & Surja and the Public Accountant Danil Setiadi Handaja,
CPA.
Status: Realized
Setting bonuses (tantiem) for the To authorize the Board of Commissioners of the Company, subject to prior approval from
members of the Board of Directors the majority shareholders and acknowledgment from other controlling shareholders, to
and Board of Commissioners of the determine:
Company for the fiscal year ending on 1. Performance bonuses (tantiem) for the members of the Board of Directors and
December 31, 2022, along with Board of Commissioners for the fiscal year ending on December 31, 2022; and
determining the salaries for the 2. Salaries for the Directors and honorarium for the Board of Commissioners, along
member of the Board of Directors and with providing facilities, benefits, and/or other allowances for the fiscal year 2023.
honorarium for the members of the
Board of Commissioners for the fiscal Realization:
year 2023, including providing The determination of remuneration for members of the Board of Commissioners and
facilities, benefits, and/or other Directors has been established and granted in accordance with the decisions made.
allowances.
Status: Realized
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Good Corporate
Governance
Agenda Resolution and Realization
The Accountability Report on the Receiving the Accountability Report on the Utilization of Funds from the Continuous
Utilization of Funds from the Public Offering of Mandiri Tunas Finance Series V Bonds Stage III in 2022.
Continuous Public Offering of Mandiri
Tunas Finance Series V Bonds Stage III Realization:
in 2022. The utilization of funds from the Public Offering of Mandiri Tunas Finance Series V
Continuing Bonds Phase III in 2022 has been carried out according to the planned
utilization.
Status: Realized
Approval of Changes to the Management 1. Approving the reappointment of Mr. Rico Adisurja Setiawan as the President
Structure of the Company Commissioner of the Company, effective from the Effective Date of this Circular
Resolution and ending at the closing of the 3rd Annual General Meeting of
Shareholders since his appointment, scheduled to be held in 2026, without
prejudice to the right of the Annual General Meeting of Shareholders to dismiss
him at any time.
2. Approving not to extend the term of office for Mr. Ravik Karsidi as Independent
Commissioner of the Company, effective from the Effective Date of this Circular
Resolution, and expressing gratitude for his services to the Company.
3. Approving the appointment of Mr. Fendy Eventius Mugni as Independent
Commissioner of the Company, effective from the Effective Date of this Circular
Resolution and ending at the closure of the 3rd Annual General Meeting of
Shareholders since his appointment, which will be held in 2026, without prejudice
to the right of the General Meeting of Shareholders to dismiss him at any time.
The appointment of Mr. Fendy Eventius Mugni shall be effective upon obtaining
approval from the Financial Services Authority based on the assessment of his
capabilities and fitness (fit and proper test).
4. Approving the reappointment of Mr. Pinohadi Gautama Sumardi as the President
Director of the Company, effective from the Effective Date of this Circular
Resolution and ending at the closure of the 3rd Annual General Meeting of
Shareholders since his appointment, which will be held in 2026, without prejudice
to the right of the General Meeting of Shareholders to dismiss him at any time.
Based on the above decision, as of the Effective Date of this Circular Resolution, the
composition of the Board of Commissioners of the Company is as follows:
No Name Position
Board of Commissioners
1 Rico Adisurja Setiawan President Commissioner
2 Fendy Eventius Mugni* Independent Commissioner
3 Totok Priyambodo Commissioner
Board of Directors
1 Pinohadi Gautama Sumardi President Director
2 R. Eryawan Nurhariadi Director
3 William Francis Indra Director
*)The above appointment is effective upon obtaining approval from the Financial
Services Authority based on the assessment of eligibility and compliance (fit and
proper test).
Realization:
Mr. Fendy Eventius Mugni, as an Independent Member of the Board of Commissioners, has
passed the competence and compliance test conducted by the Financial Services Authority.
Therefore, he is eligible to fulfill the duties and responsibilities as a Member of the Board of
Commissioners of the Company.
Status: Realized
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Agenda Resolution and Realization
Other Agendas 1. Granting authority with substitution rights to the Board of Directors of the
Company to declare all the resolutions contained in a separate notarial deed, and
subsequently notify the relevant authorities, as well as take all necessary actions
related to the said resolutions in accordance with applicable regulations, if
required, and for that purpose, appear where necessary, create, cause to be
created, and sign any necessary deeds and documents, in short, to do anything
and everything to achieve the intended purpose without exception.
2. The date of this Circular Resolution is the date of the last signature by the
representatives of the Shareholders stated in this Circular Resolution, in case the
signatures by the Shareholders' representatives are not provided on the same
date.
3. This Circular Resolution may be executed in multiple counterparts, each of which,
when taken together, shall constitute one integral part of this Circular Resolution.
Status: Realized
b. 1 (one) Extraordinary General Meeting of Shareholders held through circular resolution as stated in the Statement
of Decisions of the Shareholders of PT Mandiri Tunas Finance Outside the General Meeting No. 26 dated April 12,
2023, and the Statement of Decisions of the Shareholders of PT Mandiri Tunas Finance Outside the General Meeting
No. 27 dated April 12, 2023. The agenda and decisions were as follows:
Agenda Resolution
Approval for the Issuance of Company's Approval for the issuance of the Company's Continuing Bonds VI for the years
Continuing Bonds VI in 2023 2023-2025 with a total ceiling of Rp 5,000,000,000,000 (five trillion Indonesian Rupiah).
Transfer of Company Assets (Accounts Approval to authorize and empower the Board of Directors of the Company to, on
Receivable) and Establishment of behalf of the Company, with the approval of the Board of Commissioners of the
Company Asset Debt Collateral Company, from the signing of this Circular Resolution onwards, for:
(Accounts Receivable) in 2024 1. Transfer Company Assets (Accounts Receivable);
2. Establish collateral for Company asset debts (Accounts Receivable),
which is more than 50% (fifty percent) of the Company's net asset value to obtain new
funding from banking sources and/or Non-Banking Financial Institutions and/or bond
issuances or securities, in 1 (one) or more transactions, whether related to each other
or not, up to a maximum of Rp 8,700,000,000,000 (eight trillion seven hundred billion
Indonesian Rupiah) for point (a) as described above and up to a maximum of Rp
13,000,000,000,000 (thirteen trillion Indonesian Rupiah) for point (b) as described
above in the year 2024. For each transfer and/or collateralization of the Company's net
assets in multiples of Rp 1,000,000,000,000 (one trillion Indonesian Rupiah), the Board
of Directors is required to submit a written report to the Board of Commissioners
regarding the implementation thereof.
Other Agendas 1. Granting authorization with substitution rights to the Board of Directors of the
Company to declare all resolutions of this Circular Resolution in a separate
notarial deed, and subsequently notify the relevant parties, and take all
necessary actions in connection with the said resolutions in accordance with the
prevailing laws and regulations, if required, and for this purpose, to appear
wherever necessary, to prepare, cause to be prepared, and sign necessary deeds
and documents, in short, to do anything necessary to achieve the intended
purpose without exception.
2. The date of this Circular Resolution shall be the date of the last signature by the
representatives of the Shareholders stated in this Circular Resolution, in the
event that the signature of the Shareholders' representatives is not provided on
the same date.
3. This Circular Resolution may be executed in several counterparts, each of which,
when taken together, shall constitute one and the same Circular Resolution.
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Good Corporate
Governance
Participation of Independent Parties in Vote Counting
Throughout the year 2023, the Company’s Annual General Meeting (RUPS) was not conducted physically or face-to-face,
and therefore, there was no involvement of independent parties in the vote counting.
General Meeting of Shareholder (GMS) 2022 and Its Follow-Up
Throughout the year 2022, physical or face-to-face Annual General Meetings (GMS) were not conducted. The Company
held the AGM twice, namely:
a. One (1) Annual General Meeting of Shareholders (AGM) conducted through circular resolution, as stipulated in the
Minutes of Decision of the Annual General Meeting of Shareholders for the fiscal year 2021 of PT Mandiri Tunas
Finance, numbered 22, dated June 17, 2022. The agenda and resolutions of the AGM for the fiscal year 2022 are as
follows:
Agenda Resolution
Approval of the Annual Report 1. Approval of the Company's Annual Report, including the the Board of Commissioners
and Board of Commissioners Oversight Report, for the fiscal year ended December 31, 2021, and the endorsement of
Oversight Report, as well as the the Company's Financial Statements for the fiscal year ended December 31, 2021, audited
endorsement of the Company's by Purwantono, Sungkoro & Surja Public Accountant Office (a member firm of Ernst &
financial statements for the Young), with an opinion of "fairly presented in all material respects" as stated in Report
fiscal year ended December 31, Number 00026/2.1032/AU.1/09/0242-2/1/I/2022 dated January 20, 2022.
2021, including granting full 2. With the approval of the Company's Annual Report, including the Supervisory Board's
discharge (volledig acquit et de Report, for the fiscal year ended December 31, 2021, and the endorsement of the
charge) and settlement of Company's Financial Statements for the fiscal year ended December 31, 2021, this
responsibilities towards all Circular Decision grants full discharge (volledig acquit et de charge) and settlement of
members of the Board of responsibilities to all members of the Board of Directors and Board of Commissioners
Directors and members of the concerning the management and supervision of the Company conducted during the
Board of Commissioners of the fiscal year ended December 31, 2021, provided that such actions are not criminal acts
Company concerning the and are reflected in the Annual Report and Financial Statements for the fiscal year
management and supervision of ended December 31, 2021.
the Company conducted during 3. Full discharge (volledig acquit et de charge) is also granted to:
the fiscal year ended December a. Mr. Armendra, who served as a Director of the Company from January 1, 2021, to
31, 2021, as long as these March 29, 2021.
activities are reflected in the b. Mr. Harjanto Tjitohardjojo, who served as a Director of the Company from January 1,
annual report. 2021, to March 29, 2021.
Realization:
The financial statements and annual report have been submitted to the Financial Services
Authority (OJK) with the following information:
• Submission of the reports was also carried out through the OJK Electronic Reporting
System.
• The Annual Report has been submitted to the OJK with letter number 109/MTF-CLC.
CCS/V/2022 dated May 24, 2022.
• The annual financial statements have been submitted to the OJK with letter number
064/MTF-CLC.CCS/III/2022 dated March 23, 2022.
• These reports are also available on the Company's website.
Status: Realized
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Agenda Resolution
Approval of the Utilization of 1. Approval and determination of the utilization of the Company's Net Profit for the fiscal
the Company's Net Profit for the year 2021 amounting to Rp245,879,874,134 (two hundred forty-five billion eight hundred
Fiscal Year Ended December 31, seventy-nine million eight hundred seventy-four thousand one hundred thirty-four
2021. Indonesian Rupiah), with the following breakdown:
a. An amount of 20% (twenty percent) of the Company's net profit is allocated as
dividends, totaling Rp49,175,974,827 (forty-nine billion one hundred seventy-five
million nine hundred seventy-four thousand eight hundred twenty-seven Indonesian
Rupiah).
b. An amount of 80% (eighty percent) of the Company's net profit is allocated as
retained earnings, totaling Rp196,703,899,307 (one hundred ninety-six billion seven
hundred three million eight hundred ninety-nine thousand three hundred seven
Indonesian Rupiah).
3. Granting authority and power to the Board of Directors of the Company to determine
the procedures for the allocation of the Company's net profit as mentioned above in
accordance with prevailing laws and regulations.
Realization:
The Company has distributed dividends to the shareholders of the Company in accordance
with the decision of the Annual General Meeting of Shareholders.
Status: Realized
Approval of the Appointment of 1. Appointment of Purwantono, Sungkoro & Surja Public Accounting Firm (a member firm
Public Accounting Firm and of Ernst & Young Global Limited) and Yovita, CPA Public Accountant to audit the
Auditors to Audit the Company's Company's Financial Statements for the fiscal year ending on December 31, 2022.
Financial Statements for the 2. Granting authority and power to the Board of Commissioners of the Company to
Fiscal Year Ending on December determine the fees and other requirements for the Public Accounting Firm and Public
31, 2022, and Determination of Accountants mentioned above, as well as to appoint replacement Public Accounting
Fees/Honorariums. Firm and/or Public Accountants in the event that Purwantono, Sungkoro & Surja Public
Accounting Firm (a member firm of Ernst & Young Global Limited) and/or Yovita, CPA
Public Accountant, for any reason, are unable to complete the audit process of the
Company's Financial Statements for the fiscal year ending on December 31, 2022. If there
is a change in the Public Accounting Firm and/or Public Accountants, the Board of
Commissioners shall report to the Shareholders.
Realization:
The audited financial statements for the period ending December 31, 2021, have been
completed and certified on January 20, 2022, utilizing Purwantono, Sungkoro & Surja Public
Accounting Firm and Yovita, CPA Public Accountant.
Status: Realized
Determination of Tantiem for Granting authority and power to the Board of Commissioners of the Company, subject to prior
Members of the Board of Directors approval by the majority of shareholders and acknowledgment by other controlling
and Board of Commissioners of shareholders, to determine:
the Company for the Fiscal Year 1. Tantiem for the performance of the Board of Directors and Board of Commissioners for
Ending on December 31, 2021, and the fiscal year ending on December 31, 2021; and
Determination of Salaries for 2. Salaries for members of the Board of Directors and honorariums for members of the
Members of the Board of Directors Board of Commissioners, as well as the provision of facilities, benefits, and/or other
and Honorariums for Members of allowances for the fiscal year 2022.
the Board of Commissioners, as
well as Provision of Facilities, Realization:
Benefits, and/or Other The determination of remuneration for members of the Board of Commissioners and Directors
Allowances for the Fiscal Year has been established and provided in accordance with the decided outcome.
2022.
Status: Realized
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Good Corporate
Governance
Agenda Resolution
Accountability Report on the Receipt of the Accountability Report on the Utilization of Funds from the Bonds Offering V of
Utilization of Funds from the Mandiri Tunas Finance Phase II in 2021.
Bonds Offering V of Mandiri
Tunas Finance Phase II in 2021. Realization:
The utilization of funds from the offering of Continuing Bonds V of Mandiri Tunas Finance
Phase II in 2021 has been carried out according to the planned utilization.
Status: Realized
Approval of Changes to the 1. Approval of the honorable dismissal of Mr. Anton Zulkarnain from his position as a
Composition of Company Commissioner of the Company, effective as of the date of this Circular Decision, and
Executives. expressing gratitude for his services rendered during his tenure as a Commissioner of
the Company.
2. Approval of the appointment of Mr. Totok Priyambodo as a Commissioner of the
Company, effective as of the date of this Circular Decision, and shall expire at the
closure of the third Annual General Meeting of Shareholders (AGM) since his appointment,
which will be held in the year 2025, without prejudice to the right of the AGM to dismiss
him at any time in accordance with the Company's Articles of Association.
3. The aforementioned appointment shall become effective after obtaining approval from
the Financial Services Authority (Otoritas Jasa Keuangan) based on the assessment of
competence and propriety (fit and proper test).
It is hereby stated that as of the date of this Circular Decision, the composition of the Board
of Commissioners of the Company is as follows:
No Name Position
Board of Commissioners
1 Rico Adisurja Setiawan President Commissioner
2 Pref. Dr Ravik Karsidi Independent Commissioner
3 Totok Priyambodo* Commissioner
Director
1 Pinohadi Gautama Sumardi President Director
2 R. Eryawan Nurhariadi Director
3 William Francis Indra Director
As for the appointment of Mr. Totok Priyambodo mentioned above, it becomes effective after
he has obtained approval from the Financial Services Authority following an assessment of
competence and propriety (fit and proper test).
Realization:
Mr. Totok Priyambodo, as a member of the Board of Commissioners, has successfully passed
the competence and propriety assessment by the Financial Services Authority. Therefore, he is
able to fulfill his duties and responsibilities as a member of the Board of Commissioners of
the Company.
Status: Realized
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Agenda Resolution
Other Agendas 1. Granting power with substitution rights to the Board of Directors of the Company to
declare all decisions of this Circular Resolution in a separate notarial deed, and
thereafter notify the relevant authorities, and undertake all necessary actions related
to such decisions in accordance with applicable laws and regulations, if necessary, and
for that purpose, to appear wherever necessary, create, instruct the creation, and sign
the necessary deeds and documents, in short, to do anything to achieve the intended
purpose without exception.
2. The date of this Circular Decision is the date of the last signature of the Shareholders'
representatives stated in this Circular Decision, in case the signature of the Shareholders'
representatives is not given on the same date.
3. This Circular Decision may be made in several counterparts, each of which together
constitutes one unit of this Circular Decision.
Status: Realized
b. One (1) extraordinary General Meeting of Shareholders (EGMS) conducted through circular resolution as stated
in the Minutes of Shareholders’ Decision of PT Mandiri Tunas Finance Outside the General Meeting No. 38 dated
December 23, 2022. The agenda and decisions of the EGMS Outside the General Meeting of Shareholders are as
follows:
Agenda Decision
Approval of Amendment to Article 12 Approval of the Amendment to Article 12 Paragraph (1) of the Company's Articles of
Paragraph (1) of the Company's Association regarding the Duties and Authorities of the Board of Directors, which
Articles of Association regarding the originally read as follows:
Duties and Authorities of the Board of • Article 12 Paragraph (1):
Directors. The Board of Directors has the authority to represent the Company both in and out of
court in all matters and events, bind the Company with third parties, and perform all
actions, whether regarding management or ownership. However, with the limitation
that:
a. To borrow or lend money on behalf of the Company (excluding withdrawing
Company funds from the Bank),
b. Establish a new business or participate in other companies both domestically
and abroad;
• requires written approval from the Board of Commissioners.
Amended to the following:
• Article 12 Paragraph (1):
a. The Board of Directors has the authority to represent the Company both in and
out of court in all matters and events, bind the Company with third parties, and
perform all actions, whether regarding management or ownership. However,
with the limitation that to borrow or lend money on behalf of the Company
(excluding withdrawing Company funds from the Bank), written approval must
be obtained from the Board of Commissioners.
b. The Board of Directors is required to seek approval from all shareholders in the
General Meeting of Shareholders (RUPS) after obtaining prior written approval
from the Board of Commissioners to:
Establish a new business or participate in other companies both domestically
and abroad;
Divestment of capital participation in subsidiaries and/or other joint
venture companies.
Status: Realized
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Agenda Decision
Other Agendas 1. Granting power with substitution rights to the Board of Directors of the Company
to declare all decisions of this Circular Resolution in a separate notarial deed, and
thereafter notify the relevant authorities, and undertake all necessary actions
related to such decisions in accordance with applicable laws and regulations, if
necessary, and for that purpose, to appear wherever necessary, create, instruct the
creation, and sign the necessary deeds and documents, in short, to do anything to
achieve the intended purpose without exception.
2. The date of this Circular Decision is the date of the last signature of the
Shareholders' representatives stated in this Circular Decision, in case the signature
of the Shareholders' representatives is not given on the same date.
3. This Circular Decision may be made in several counterparts, each of which together
constitutes one unit of this Circular Decision.
Status: Realized
Board of Commissioners
The Board of Commissioners as the Company’s organ has collective duties and responsibilities to supervise and provide
advice to the Board of Directors independently related to the implementation of the duties and responsibilities of the
Board of Directors in managing the Company and ensuring that the Company has implemented GCG.
Term of Office of the Board of Commissioners
The term of office for the Board of Commissioners is 3 (three) years, as stated in the Company’s Articles of Association,
and they may be reappointed for 1 (one) additional term, without prejudice to the General Meeting of Shareholders’
right to dismiss members of the Board of Commissioners at any time. After the expiration of their term, the members
of the Board of Commissioners may be reappointed by the General Meeting of Shareholders.
Structure and Composition of the Board of Commissioners
Throughout the year 2023, there were changes in the composition of the Board of Commissioners, and the term
of Mr. Ravik Karsidi as Independent Commissioner was not extended, effective from the Annual General Meeting of
Shareholders (RUPS) held on June 27, 2023.
Composition of the Board of Commissioners January 1 - June 27, 2023 Period
Name Position Basis of Appointment Term of Office Tenure
Deed of Statement of the 2019 Fiscal Year Annual
Annual GMS for Fiscal Year
Rico Adisurja President GMS Resolutions No. 28 dated 25 February 2020,
2019 until the closing of Second
Setiawan Commissioner made before Lenny Janis Ishak, SH., Notary in
the Annual GMS in 2022.
Jakarta.
Deed of Statement of Annual General Meeting of
Annual GMS for Fiscal Year
Totok Shareholders Resolutions No. 22 dated 17 June
Commissioner 2022 until the closing of First
Priyambodo 2022, made before Lenny Janis Ishak, SH., Notary
the Annual GMS in 2024.
in South Jakarta.
Deed of Statement of the 2019 Fiscal Year Annual
Annual GMS for Fiscal Year
Independent GMS Resolutions No. 28 dated 25 February 2020,
Ravik Karsidi 2019 until the closing of Second
Commissioner made before Lenny Janis Ishak, SH., Notary in
the Annual GMS in 2022.
Jakarta.
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Composition of the Board of Commissioners June 27 - December 31, 2023 Period
Name Position Basis of Appointment Term of Office Tenure
The Deed of the Statement of Resolutions of the The Annual General Meeting of
Annual General Meeting of Shareholders (RUPS) Shareholders (RUPS) for the
Rico Adisurja President for the Financial Year 2022 No. 138 dated June 27, Financial Year 2022 until the
Third
Setiawan Commissioner 2023, was executed before M. Kholid Artha, SH., a closing of the Extraordinary
notary in Jakarta. General Meeting of
Shareholders (RUPST) in 2025.
The Deed of the Resolution of the Annual The Annual General Meeting of
General Meeting of Shareholders No. 22 dated Shareholders for the Fiscal Year
Totok
Commissioner June 17, 2022, made by Lenny Janis Ishak, SH, 2022 until the closing of the First
Priyambodo*
Notary in South Jakarta. Extraordinary General Meeting
of Shareholders in 2024.
The Deed of the Decision Statement of the The Annual General Meeting of
Annual General Meeting of Shareholders for the Shareholders for the Fiscal Year
Fendy Eventius Independent Fiscal Year 2022, No. 138 dated June 27, 2023, was 2022 extends until the closing
First
Mugni Commissioner executed before M. Kholid Artha, SH., a notary of the Extraordinary General
public in Jakarta. Meeting of Shareholders for
the Fiscal Year 2025.
*) Resigned in March 7, 2024
Profiles of all members of the Board of Commissioners is presented in the Company Profile chapter in this Annual Report.
Fit and Proper Test of the Board of Commissioners
In accordance with the regulations enacted by the OJK on the financial industry, parties managing financial institutions
are required to take the fit and proper test conducted by the OJK as a prerequisite for formal management positions to
take effect. The entire Board of Commissioners of the Company has taken a fit and proper test by the OJK.
The appointment of the Company’s Board of Commissioners is in accordance with OJK Regulation No. 33/POJK.04/2014
on Directors and Commissioners of Issuers or Public Companies and OJK Regulation No. 27/POJK.03/2016 on Fit and
Proper Test for Main Parties of Financial Services Institutions. The following is information regarding the fit and proper
test of the Company’s Board of Commissioners.
Fit and Proper Test of the Board of Commissioners
Name Position Approval from OJK
Rico Adisurja President
Pass with the OJK Decree No. KEP-471/NB.11/2017 dated August 21, 2017.
Setiawan Commissioner
Totok Priyambodo Commissioner Pass with the OJK Decree No. KEP-06/KDK.05/2022 dated December 26, 2022.
Independent
Fendy Eventius Mugni Pass with the OJK Decree No. KEP-13/KDK.06/2023 dated December 8, 2023.
Commissioner
Board Manual of the Board of Commissioners
The Board Charter of the Board of Commissioners contains of instructions on the working procedures of the Board of
Commissioners and explains the stages of activities in a structured, systematic, easy-to-understand manner as well
as can be implemented consistently, and as reference for the Board of Commissioners in carrying out their respective
duties to achieve the Company’s vision and mission.
Matters regulated in these guidelines include: • Rights and Authority of the Board of Commissioners
• Policy Reference • Culture and Ethics of the Board of Commissioners
• Scope • Confidentiality of Information and Conflicts of
• Legal Basis • Interest
• Principles of Working Relations between the Board • Meeting of the Board of Commissioners
of Commissioners and Board of Directors • Reporting and Accountability
• Composition, Term of Office, and Concurrent • Supporting Committee for Duty Implementation of
• Positions the Board of Commissioners
• Duties, Responsibilities, and Obligations of the • Secretary to the Board of Commissioners
• Board of Commissioners
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Duties, Responsibilities, Obligations, and 6. Reporting to the Company regarding its share
Authority of the Board of Commissioners ownership and/or family to the Company concerned
Duties and Responsibilities of the Board of and other Companies, including any amendments;
Commissioners: 7. Providing recommendations to the GMS on the
1. Conduct supervision and to be responsible for appointment of the Public Accountant Firm that will
the policies and management of the Company in audit of the Company’s financial statements;
accordance with the set vision and mission based on 8. Following-up the results of supervision and providing
compliance with applicable laws and regulations in recommendations to the GMS in the event of
Indonesia, including but not limited to regulations deviation from the applicable rules and regulations
related to the implementation of Good Corporate and Articles of Association;
Governance, the Limited Liability Company Law, and 9. Establishing Audit Committee and other committees
Financial Services Authority Regulations; to support duties implementation of the Board of
2. Provide advice to the Board of Directors on the Commissioners;
management of the Company; 10. In the event that the Company exhibits significant
3. Ensuring that the Board of Directors has followed declining symptoms, immediately holding GMS
up on audit findings and recommendations from to report to the Shareholders, accompanied by
the Internal Audit Division, external auditors, results suggestions regarding corrective measures to be
of OJK supervision and/or results of supervision by taken;
other authorities; 11. Monitoring the effectiveness of Good Corporate
4. Notify the Financial Services Authority (OJK) no Governance implementation.
later than 10 (ten) calendar days from the finding
of violations of laws and regulations in the field of Authority of the Board of Commissioners
financing, including estimated condition that may be The Board of Commissioners has the authority to
detrimental to the Company’s business sustainability; provide written approval of the decisions of the Board
5. Examine and review the annual report prepared by the of Directors for the following actions:
Board of Directors and sign the annual report; 1. Borrowing or lending money on behalf of the
6. Providing opinions and suggestions on the Annual Company (not including taking Company’s money at
Work Plan and Budget proposed by the Board of the Bank);
Directors and ratifying the Annual Work Plan and 2. Establishing new business or participating in other
Budget according to the provisions of the Articles of companies, both domestically and overseas;
Association; 3. Obtaining sufficient access to Company information,
7. Reporting immediately to the GMS if there are in this matter to see books, securities, as well as
symptoms of a decline in the Company’s performance. checking the Company’s assets;
4. Requesting explanation from the Board of Directors
Obligations of the Board of Commissioners and/or other officials regarding all issues/policies
1. Complying with statutory provisions, Articles on the management of the Company;
of Association and GMS decisions and acting 5. Requesting the Board of Directors and/or other work
professionally; unit officials under the Board of Directors with the
2. Studying, ratifying, and supervising the Board of Directors knowledge to attend the Board of
implementation of the Company’s annual work Commissioners meeting;
plan and budget prepared by the Board of Directors 6. Appointing the Secretary to the Board of
according to applicable regulations and the Commissioners, if deemed necessary and dismissing;
Company’s Articles of Association; 7. Temporarily dismissing members of the Board of
3. Providing advice to the Board of Directors in carrying Directors in accordance with the provisions of the
out the Company management and is not intended Company’s Articles of Association;
for the interests of certain parties/ groups; 8. Establishing committees other than audit committee,
4. Reviewing the annual report prepared by the Board taking into account the needs of the Company;
of Directors and signing the annual report; 9. If deemed necessary in carrying out their duties,
5. Preparing reports on the Board of Commissioners the Board of Commissioners may use the assistance
activities which are part of the report on the of experts for a limited period of time over at the
implementation of Good Corporate Governance and expense of the Company;
report on its supervisory activities to the GMS;
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10. Performing management actions of the Company • Key Performance Indicator of the Board of
under certain conditions for a certain period of time Commissioner
in accordance with the provisions of the Company’s
Articles of Association; In 2023, the Annual General Meeting (GMS) appointed
11. Carrying out other supervisory authorities insofar Fendy Eventius Mugni as a member of the Board of
as they do not conflict with statutory regulations, Commissioners. The orientation program for him was
the Company’s Articles of Association and/or GMS conducted on August 24, 2023
decisions.
Competency Development of the Board of
Delegation of Duties and Responsibilities Commissioners
of the Board of Commissioners The Company has a policy regarding the implementation
To operate more effectively in carrying out its functions of human resources development programs from the
and responsibilities, the Board of Commissioners has top level to the bottom, demonstrating the Company’s
assigned oversight duties to each member. While each commitment to creating superior and competitive
member, including the President Commissioner, holds an human resources.
equivalent position, the President Commissioner, acting
as primus inter pares, is responsible for coordinating all The policies regarding the capability improvement
activities of the Board of Commissioners. program for the Board of Commissioners are as follows:
1. Capability improvement programs are carried out in
Orientation Program for New order to improve the work effectiveness of the Board
Commissioners of Commissioners.
The orientation program for newly appointed 2. Plans for implementing capability improvement
Commissioners aims to provide knowledge about the program must be included in the Board of
Company, enabling them to understand the roles and Commissioners Work Plan and Budget.
responsibilities as Commissioners and the business 3. Every member of the Board of Commissioners
processes implemented by the Board of Directors. This participating in the capability improvement program
ensures they can work in harmony with other Company is required to provide presentation to other Members
organs. of Board of Commissioners in order to share
information and knowledge.
The person in charge of this program is the Corporate 4. The member of the Board of Commissioners
Secretary. The introduction program material includes: is responsible for preparing report on the
• Articles of Association of Mandiri Tunas Finance implementation of the capability improvement
• Regulations and Laws related to the business of program. The report is submitted to the Board of
Mandiri Tunas Finance Commissioners.
• Annual Report of Mandiri Tunas Finance
• Long Term Plan The details of the implementation of the Board of
• Annual Work Plan and Budget Commissioners’ competency enhancement program are
• Work Program of the Board of Commissioners provided in the Company Profile section of this Annual
Report.
Implementation of Duties of the Board of Commissioners in 2023
The following are the decisions, recommendations, and implementation of the duties of the Board of Commissioners
in 2023:
Decisions, Recommendations and Implementation of Duties of the Board of Commissioners in 2023
The Board of Commissioners expresses appreciation to the MTF management for the achievements
attained in the year 2023.
The Board of Commissioners extends full support to MTF to achieve the lending target of 1 trillion in
the year 2023.
Quarter I-2023 (Q1-2023)
The Board of Commissioners provides guidance for MTF to conduct further analysis regarding the
development of MTF in electric vehicle financing.
The Board of Commissioners provides directives regarding the policy prohibiting joint iftar events
addressed to state officials, including state-owned enterprises (BUMN).
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Governance
Decisions, Recommendations and Implementation of Duties of the Board of Commissioners in 2023
The Board of Commissioners directs Jamkrindo to settle insurance claims at a higher amount.
The Board of Commissioners urges MTF to enhance its performance in June to ensure that MTF
achieves the expected targets.
The Board of Commissioners has issued directives to create information regarding the minimum
Quarter II-2023 pricing calculation of JF entering NJF.
(Q2-2023)
The Board of Commissioners urges MTF to develop a structured profit achievement strategy to reach
the profit target and not to hastily achieve the IDR 1.2 trillion profit, as it may lead to an increase in
NPL.
The Board of Commissioners has provided guidance to create an explanation regarding the existence
of Non-Performing Loans (NPL) in JF debtors that should ideally have good quality.
The Board of Commissioners expresses appreciation for the management performance of MTF until
Quarter III-2023 the present moment.
(Q3-2023)
The Board of Commissioners has provided guidance for MTF to maintain its current performance.
The Board of Commissioners extends appreciation to MTF for its outstanding performance, as the year-
to-date profit achievement as of September 2023 has surpassed the actual profit year-to-date in 2022.
The Board of Commissioners has provided guidance for MTF to maintain the Capital Adequacy Ratio
(CKPN) above 200%.
Quarter IV-2023 The Board of Commissioners has given directives for MTF to focus on acquiring reputable brands
(Q4-2023) while maintaining the quality of Non-Performing Loans (NPL).
The Board of Commissioners has provided directives to maintain the performance of captive
consumers.
The Board of Commissioners has given directives for MTF to prepare precautionary measures for the
anticipated increase in financial turnover as the country enters the political year.
Performance Assessment of Committees Throughout the year 2023, the Audit Committee has
under the Board of Commissioners and performed its duties and responsibilities effectively.
the Assessment Basis The Audit Committee has conducted meetings a total
The Board of Commissioners has supporting committees of 7 times and carried out its tasks, including:
with defined roles and responsibilities to assist in a. Reviewed financial information that will be issued
enhancing the Board’s performance. These committees by the Company to the public and/or authorities,
have clear working guidelines, ensuring that their tasks such as projected financial statements as well as
are directed and effective. The Board of Commissioners other reports related to the financial information
periodically (annually) assesses the effectiveness of of the Company.
the committees under it. The Board acknowledges that b. Reviewed the audits by internal auditor as well as
during the year 2023, the committees have effectively supervise the follow-up by the Board of Directors
carried out their duties and responsibilities, as on the findings from the internal auditor.
evidenced by the achievement of their respective Key c. Reviewing the Company’s compliance with laws
Performance Indicators (KPIs). and regulations that are related to the Company’s
activities.
The performance evaluation of the committees under d. Provided independent opinion in the event
the Board of Commissioners is as follows: of disagreements between management and
1. Audit Committee accountants for the services provided.
The Audit Committee has the task and responsibility e. Provided recommendations to the Board of
to assist and facilitate the Board of Commissioners Commissioners regarding accountant support based
in carrying out supervisory functions over the on independence, scope of assignment, and fees.
Company’s Financial Reporting system and processes, f. Provided recommendations regarding the
the audit process of the Company’s financial improvement of the Company’s internal control
statements, evaluation of the Company’s internal system, as well as the implementation.
control implementation, assessment of internal g. Reviewing risk management activities carried out
audit performance, and supervision of technical and by the Board of Directors, if the company does
operational performance as well as compliance with not have a risk monitoring function under the
other legal provisions and regulations Board of Commissioners.
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h. Reviewed complaints related to the Company’s b. Reviewed the suitability among the Company’s
accounting and financial reporting processes. risk management policies.
i. Reviewed and provided advice to the Board of c. Monitored the implementation of duties of the
Commissioners regarding potential conflict of Risk Management unit.
interests in the Company. d. Reviewed the risk profile report and/or the level
j. Maintain the confidentiality of the Company’s of risk.
documents, data, and information. e. Reviewed the Company’s financial soundness
level report.
2. Nomination and Remuneration Committee f. Monitored the adequacy of the process of
The Nomination and Remuneration Committee identification, measurement of monitoring,
has duties and responsibilities to assist the Board controlling, and risk management information
of Commissioners with the aim of monitoring, system.
supervising, and evaluating the effectiveness of
nomination and remuneration within the Company. Independent Commissioner
An Independent Commissioner is a member of the
Throughout 2023, the Nomination and Remuneration Board of Commissioners who does not have financial,
Committee has carried out its duties and managerial, share ownership, and/or family
responsibilities properly. The Nomination and relationships with members of the Board of Directors,
Remuneration Committee has held 3 meetings and other members of the Board of Commissioners,
carried out its duties, among others: and/or controlling shareholders, or relationships
a. Provided recommendations to the Board of with the Bank that could affect their ability to act
Commissioners regarding the remuneration independently.
policy for members of the Board of Directors
and/or Board of Commissioners to be submitted The Independent Commissioner is responsible for
to GMS. oversight and also represents the interests of minority
a. Evaluated the Company’s remuneration policies, shareholders. The appointment of Independent
including: salary, honorarium, holiday allowance, Commissioners is regulated under the Financial
benefits, bonuses, and rewards. Services Authority Regulation No. 33/POJK.04/2014
b. Provided recommendations to the Board concerning the Board of Directors and Board of
of Commissioners regarding the positions Commissioners of Issuers or Public Companies.
composition of members of the Board of
Directors and/or Board of Commissioners, Independence Criteria of Independent
policies and criteria needed in the nomination of Commissioner
members of the Board of Directors and/or Board The existence of Independent Commissioners in the
of Commissioners, candidate name for the Board Company always ensures that the oversight mechanism
of Directors and/or Board of Commissioners, and runs effectively and in accordance with laws and
conduct the assessments based on the prepared regulations. The criteria for determining the Company’s
benchmarks as an evaluation on the performance Independent Commissioner are in accordance with POJK
and capacity building of the Board of Directors No. 33/POJK.04.2014 namely:
and/or Board of Commissioners. 1. Bukan Not a person working or having the
authority and responsibility to plan, lead, control,
3. Risk Monitoring Committee or supervise the activities of the Company within
The Risk Monitoring Committee has duties and the last 6 (six) months, unless for reappointment
responsibilities to assist the Board of Commissioners as the Company’s Independent Commissioner in
in monitoring the implementation of the Company’s the following period.
risk management that has been prepared and 2. Has no direct or indirect shares of the Company.
implemented by the Board of Directors. 3. Has no Affiliation with the Board of Commissioners,
Board of Directors, and Major Shareholders of the
Throughout 2023, the Risk Monitoring Committee has Company.
carried out its duties and responsibilities properly. 4. Has no direct nor indirect business relations
The Risk Monitoring Committee has held 4 (four) with the Company. Therefore, the Company’s
meetings and carried out its duties, among others: Independent Commissioner has met the criteria
a. Directed the policies, strategies, and risk in accordance with the applicable laws and
management framework according to risk regulations.
appetite and risk tolerance.
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Independence Aspect Fendy Eventius Mugni
As a person working or having the authority and responsibility to plan, lead, control, or supervise the
activities of the Compan y in the last 6 (six) months, unless for reappointment as the Company’s x
Independent Commissioner in the following period
Owning shares of the Company, both directly and indirectly x
Having affiliation with the Board of Commissioners, Board of Directors and Major Shareholders of the
x
Company
Having direct and indirect business relations with the Company x
Composition and Membership of Independent Commissioners in the Board of Commissioners
Structure of the Company
Financial Services Authority Regulation No. 33/POJK.04/2014 states that the composition of Independent Commissioners
in the Board of Commissioners must be at least 30% of the total number of Board of Commissioners members. As of
December 31, 2023, the Company has 1 (one) Independent Commissioner who meets the established criteria, has
signed a statement of independence in accordance with applicable regulations, and has been submitted to the
Financial Services Authority as one of the required documents for approval from the OJK.
Independent Commissioners of Mandiri Tunas Finance as of December 31, 202
Independent Commissioner Term of Office and Tenure
Fendy Eventius Mugni First Term, for the tenure starting from the Annual General Meeting for the 2025
The composition of Independent Commissioners in
the Company accounts for 33.33% of the total members of
the Board of Commissioners, and it complies with
the relevant regulations.
Independency Statement of the Independent Commissioner
The Independent Commissioner signed the Independence Statement as Independent Commissioner stating the
following:
1. Having no affiliation with members of the Board of Directors, members of the Board of Commissioners, members
of the Sharia Supervisory Board or the same LJKNB shareholders; and
2. Never been a member of the Board of Directors, member of the Board of Commissioners, member of the Sharia
Supervisory Board or occupying 1 (one) level below the Board of Directors in the same LJKNB or other company that
has affiliation with the LJKNB in accordance with the applicable statutory provisions.
This statement letter was made and signed by the Independent Commissioner on September 20, 2023.
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Board of Directors
The Board of Directors is the Company’s organ with the authority and full responsibility for managing the Company
in the best interests of the Company, in accordance with the purpose and objectives of the Company. The Board of
Directors represents the Company both within and outside the court, in accordance with the provisions of the articles
of association. In addition, the Board of Directors is also obliged to carry out the Company’s operational activities
based on the principles of good corporate governance.
Term of Office of the Board of Directors
In accordance with the Company’s Articles of Association, members of the Board of Directors are appointed and
dismissed by the General Meeting of Shareholders for a specified period of 3 (three) years.
Composition and Structure of the Board of Directors in 2023
As of December 31, 2023, the composition and arrangement of the membership of the Board of Directors are as follows:
Name Position Basis of Appointment Term of Office Tenure
Annual General Meeting
Deed of Shareholders' Decision Outside the GMS to Hold
for the 2022 Fiscal Year
Pinohadi G. President an Annual GMS (Circular Decision) based on the Deed of
until the conclusion of Second
Sumardi Director Annual GMS Decision Statement No. 138 dated June 28,
the Extraordinary General
2023 made before M. Kholid Artha, SH., notary in Jakarta.
Meeting in 2025.
Deed of Shareholders' Decision Outside the GMS to Hold Annual General Meeting
an Annual GMS (Circular Decision) based on the Deed of for the 2021 Fiscal Year
William Francis
Director Annual GMS Decision Statement No. 15 dated March 29, until the conclusion of First
Indra
2021 which was made before Lenny Janis Ishak, SH., the Extraordinary General
notary in Jakarta. Meeting in 2023.
Deed of Shareholders' Decision Outside the GMS to Hold Annual General Meeting
an Annual GMS (Circular Decision) based on the Deed of for the 2021 Fiscal Year
R. Eryawan
Director Annual GMS Decision Statement No. 15 dated March 29, until the conclusion of First
Nurhariadi
2021 which was made before Lenny Janis Ishak, SH., the Extraordinary General
notary in Jakarta. Meeting in 2023.
Fit and Proper Test of the Board of Directors
Financial Services Authority Regulation No. 27/POJK.03/2016 on the Assessment of Competence and Suitability for Key
Persons of Financial Services Institutions elaborates on the considerations that financial institution managers must
meet the competence and suitability requirements for members of the Board of Directors and Board of Commissioners
in carrying out their actions, duties, and functions. The following information pertains to the assessment of the eligibility
and compliance (fit and proper test) of the Company’s Board of Directors.
Name Position Approval from OJK
Pinohadi G. Sumardi President Director Pass with the OJK Decree No. KEP- 368/NB.11/2020 dated 10 November 2020.
William Francis Indra Director Pass with the OJK Decree No. KEP-26/KDK.05/2021 dated 6 July 2021.
R. Eryawan Nurhariadi Director Pass with the OJK Decree No. KEP-44/KDK.05/2021 dated 31 August 2021.
Board Manual of the Board of Directors
The Company has established a Board Manual or Board of Directors Work Guidelines that contain instructions on the
working procedures of the Board of Directors and explains the stages of activities in a structured, systematic, easy-
to-understand, and can be implemented consistently as a reference for the Board of Directors in implementing their
respective duties to achieve the Company’s Vision and Mission.
Duties, Responsibilities, Authorities, and Obligations of the Board of Directors
The Board of Directors is in charge of fully carrying out all actions related to the management of the Company for
the benefit of and in accordance with the purposes and objectives of the Company as stipulated in the laws and
regulations, the Company’s Articles of Association, and resolutions of the GMS.
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Governance
Based on the Board Manual, the main duties of the 4. Developing and utilizing information technology.
Board of Directors in general and based on its position 5. Following-up the findings from Audit Committee,
are as follows: Internal Audit and External Auditors, and subsequently
reporting it to the Board of Commissioners.
Main Duties of the Board of Directors 6. Reporting relevant information to the Board of
1. Performing all management actions of the Company Commissioners, including the succession/transfer/
in the interests of the Company and in line with the promotion plan for key (senior) managers, HR
purposes and objectives of the Company. development program, responsibility of risk
2. Representing the Company inside and outside of management, and performance of the utilization of
the Court regarding all matters and events with information technology system.
limitations as stipulated in the regulations, Articles 7. Implementing the General Meeting of Shareholders
of Association and/or GMS resolution. (GMS) and drafting the minutes of the GMS.
3. Controlling, maintaining, and managing assets of the 8. Taking into account the interests of stakeholders in
Company. accordance with ethical values and applicable laws
and regulations.
Main Collegial Duties of the Board of
Directors In addition to the duties and responsibilities, the Board
1. Determining vision, mission, and strategy of the of Directors is also granted the rights and authority to
Company; determine policies for the management of the Company,
2. Establishing the prevailing Corporate policy; including policies in the field of employment. Policies
3. Determining the proposal and changes in the Long- concerning employment are implemented based on
Term Plan of the Company (RJPP) and Work Plan the Company’s internal regulations and applicable laws
and Budget (RKAP) in accordance with prevailing and regulations in the field of employment. The Board
regulations; of Directors also has the power to regulate issues of
4. Determining the performance targets and evaluating delegation of authority/ authorization of the Board of
the Company’s performance, including dividend Directors to represent the Company in and out of court.
policy through the Company’s organizational
mechanisms in accordance with applicable Obligations of the Board of Directors
regulations; 1. Preparing the Long-Term Plan of the Company
5. Striving to achieve the performance target, which (RJPP), which is the strategic plan containing target
is utilized as the basis of assessment on soundness and objectives of the Company for a 5 (five) year
level in accordance with the performance agreement period, jointly signing the plan with the Board of
stipulated in the “GMS Approval of RKAP”; Commissioners and submitting it to the GMS to
6. Determining the approval of non-routine investment obtain approval.
project that exceeds the authority of the Board of 2. Preparing the Company’s Work Plan and Budget (RKAP)
Directors and overseeing its implementation; and submitting it to the Board of Commissioners and
7. Determining the organizational structure and GMS to obtain approval.
determining the officials of the Company to certain 3. Preparing and implementing an accounting system
levels as stipulated through the provisions of the that conforms with the finance accounting standard,
Board of Directors. including bookkeeping and administration based on
the reliable internal control.
Responsibilities of the Board of Directors 4. Providing accountability and information
1. Fulfilling the clear, complete and balanced regardingthe condition and operations of the
Performance Assessment that has been selected, Company in other reports if requested by the GMS.
both in terms of the financial and non-financial 5. Determining the clear duties, responsibilities, and
aspects, in order to determine the achievement of authorities of the management on every level.
the Company’s vision and mission is in accordance 6. Preparing and submitting the Annual Report, which
with the prevailing regulations. is jointly signed by the Board of Com missioners
2. Realizing the implementation of RJPP and RKAP, tothe GMS to obtain approval.
including the achievement of financial and 7. Stating its own share ownership and/or family in
nonfinancial targets. other companies in the Annual Report.
3. Implementing risk management.
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Scope of Delegation of Duties and Responsibilities of the Board of Directors
The delegation of the scope of work of the Board of Directors refers to the Decree of the Board of Directors No. 021/
SK-DIR/MTF/X/2011 on Delegation of Duties and Authorities and Board of Directors Code of Conduct and the Decree
of the Board of Directors No. 016/SKDIR/MTF/X/2022 dated 03 November 2022 on the Organizational Structure of PT
Mandiri Tunas Finance.
Board of Directors Responsibility
Pinohadi G. Sumardi Main Directorate
1. Responsible for the Profit and Loss of the Company.
2. Manage the Company and ensure the achievement of the Company's Key Performance Indicator (KPI).
3. Determine the Company's business strategies and policies for the medium and long term while still
referring to the Company's Vision and Mission.
4. Ensure the Company's business activities run in accordance with the Company's strategies and plans.
5. Make strategic decisions to support the Company's sustainable growth.
6. Coordinate, direct and supervise the work units in the Company to keep running in accordance
with the Company's plans and strategies.
7. Encouraging the implementation of the principles of good corporate governance, as well as
directing the implementation of the Company's social responsibility activities.
8. Directing organizational and Human Resources (HR) development activities.
9. Has the right and authority to act for and on behalf of the Board of Directors and to represent the
Company and has the right to appoint one or more persons as his/her representative or proxy by
giving him/her or them the power for certain actions as stipulated in the Power of Attorney.
10. Lead and coordinate the implementation of the duties of the other Directors.
William Francis Indra Direktorat Sales & IT
1. Lead, direct and coordinate all business units in developing and marketing products and alliances
to achieve marketable and profitable.
2. Determine strategies and policies and control the Information Technology function in supporting
operations, development and security of systems and technology.
3. Coordinate all aspects of operational management in accordance with the Company's strategy.
4. Ensure the marketing function in the Company runs in accordance with the strategy and
achievement of sales targets.
5. Direct and supervise the Regional Division Head and coordinate work functions throughout the
region.
6. Lead and direct policies and strategies related to business and marketing activities for the long
term, medium term and short term.
7. Lead and direct the running of operational and transactional activities, and support the
development of policies, provisions, and Operation systems, so as to support the smooth running
of business processes.
8. Assist the President Director in directing the change processes needed to meet the challenges of
business competition by encouraging business units to make products more dynamic and
competitive.
R. Eryawan Nurhariadi Direktorat Corporate Finance & Business Strategic
1. To comprehensively lead and direct the Company's business strategy, long-term, medium-term
and short-term financial objectives and targets.
2. Coordinate all aspects of financial management, accounting, business strategy and in accordance
with the Company's strategy.
3. Determine the strategy and control the finance and accounting function to keep it running
according to the Company's plan.
4. Ensure that reports related to finance, accounting and operations to relevant institutions are sent
in accordance with the specified time.
5. Monitoring the use of all Company costs against the predetermined budget.
6. Determine strategies and policies and control in supporting the achievement of the Company's
targets through corporate strategies and business development that support the Company's
performance.
7. Responsible for carrying out supervisory functions and ensuring the performance of work units
in accordance with the strategy to achieve the Company's targets.
8. Maintain good relations with stakeholders to ensure the achievement of the Company's targets.
9. Direct and supervise the divisions under him.
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Good Corporate
Governance
Orientation Program for the Board of organization. Capacity and capability improvement is
Directors important to allow the Board of Directors to always
The introduction program for new f Directors is intended keep abreast with the latest developments in the
to provide an understanding of the conditions of the industry where the Company operates and is always
Company to ensure that they obtain a comprehensive ready to anticipate the sustainability and progress
understanding of the Company’s condition, both of the Company. Policies regarding capability
organizationally and operationally, as stipulated in the improvement programs for the Board of Directors are
Board Manual. as follows:
1. Capability improvement programs are carried out in
The Company introduction program to the newly the context to improve the work effectiveness of the
appointed Directors is carried out by Corporate Board of Directors.
Secretary. Materials introduced to the new Directors 2. The program plan must be included in the Board of
include at least the following information: Directors Work Plan and Budget.
1. The situation of Indonesian financial industry, 3. Directors participating in program are required
especially non-banking. to convey it to other Directors in order to share
2. Company Profile. information and knowledge.
3. Operations and financial performance of the 4. The relevant Directors draft report on the
Company. implementation of the Capability improvement
4. Organizational and Good Corporate Governance program and submit it to other Directors.
In 2023 there were no changes in the composition of For the fully information about the Competency
the Board of Directors, the Company did not carry out development activities attended by the Board of
orientation activities or programs for the Board of Directors throughout 2023 is presented in the Company
Directors. Profile chapter in this annual report.
Competency Development and Training Execution of Duties and Responsibilities
Program for the Board of Directors of the Board of Directors in 2023
The Company’s policy also designed programs to Throughout the year 2023, the Board of Directors has
provide new insights for the Board of Directors to issued various decisions in the operational, financial,
increase the Company’s capacity within a competitive and supporting aspects of the business through the
business, as well as to provide opportunities to build policy instruments owned by the Board of Directors. The
networks in order to empower existing resources decisions and implementation of the Board of Directors’
within the organization, subsequently enabling tasks in 2023 are as follows:
the Company to become a high-performance
Decisions, Recommendations, and Implementation of Board of Directors Duties in 2023
• Preparation of MTF MPI Year 2023
• Preparation for the implementation of MTF Internal Trip Year 2023
• Concern about branches that have the lowest EPD and Recovery performance
• Monitoring the MTF National Work Meeting event
Kuartal I Tahun 2023
• Review and Adjustment of MTF Organizational Structure
• Monitoring Audit Results on Bank Mandiri Audit Findings
• Strategy Determination and Initiation of MTF BPR Team
• Concern on MTF Customer Data Update
• Concern pada Sistem Accounting MTF
• Melakukan reviu terhadap proses scoring MTF
• Melakukan Kajian dan Analisa atas Target Profit Rp 1 Triliun
• Concern pada Strategi Anti Fraud
Kuartal II Tahun 2023 • Persiapan dan Pelaksanaan RUPST MTF
• Pembentukan Inisiasi Direct Impact Project terkait Efisiensi
• Memonitor atas penandatanganan Pakta Integritas Karyawan MTF
• Memonitor renovasi gedung MTF Lantai 21
• Memonitor Hasil Audit Cabang Matraman, Padang, dan Bandung I
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• Penyesuaian atas Perubahan Grading Customer MTF
• Persiapan atas Penerapan ESG di Mandiri Group
• Memonitor event Board Forum (MTF sebagai Tuan Rumah)
• Melakukan reviu komposisi sektor batubara
• Concern pada Laporan Rutin kepada Regulator
Kuartal III Tahun 2023
• Concern pada Rencana Kerja Tim Anti Fraud MTF
• Memonitor Pelaksanaan Program MDP (Manager Development Program) MTF – jalur prestasi
• Penentuan Strategi Bisnis dan dan Financial Projection Tahun 2023 dan 2024
• Memonitor Hasil Audit Cabang Kelapa Gading, Kebon Jeruk, Bintaro, Divisi Operation
Support Management, Divisi Legal, dan SLIK.
• Persiapan dan Pelaksanaan CGPI – Corporate Governance Perception Index
• Memonitor Hasil Audit Regional 2 – Cabang Palembang Multiguna dan Cabang Padang,
Cabang Denpasar, Regional 6, dan Regional 8.
Kuartal IV Tahun 2023 • Penyusunan SOP Pembiayaan Corporate Fleet
• Concern pada Profitability by Holding
• Pengkinian Ketentuan SOP APU PPT dan PPPSPM
• Concern pada Penerapan Organ Manajemen Risiko sesuai Permen BUMN
Performance Assessment of Committees and Supporting Organs under the Board of
Directors
In carrying out its management duties, the Board of Directors establishes committees under the Board as needed
by the Company’s business and in accordance with regulatory provisions. These committees are expected to create
operational effectiveness and efficiency. The work units referred to are the Asset and Liability Committee (ALCO), the
Credit Committee, and the Anti-Fraud Committee. The Board of Directors considers that both the Corporate Secretary
and Internal Audit, as well as work units consisting of the Asset and Liability Committee (ALCO), the Credit Committee,
and the Anti-Fraud Committee. The Board of Directors assesses that in 2023, these committees have effectively carried
out their tasks and responsibilities, providing support to the Board in managing the Company’s business in accordance
with Good Corporate Governance (GCG) principles.
Transparency of Information on the Board of
Commissioners and Board of Directors
Diversity in Composition of the Board of Commissioners and Board of Directors
The determination of the composition of the Company’s Board of Commissioners is carried out by considering the
needs and complexity of the company, including paying attention to the element of diversity in terms of knowledge,
expertise, professional experience, and education to support the effectiveness of performing duties in addressing
the increasingly dynamic business challenges. The diversity of the composition of the Board of Commissioners and
Directors that supports the implementation of their duties and responsibilities are as follow.
Name and Position Citizenship Age Gender Educational Background Expertise
Board of Commissioners
• Master’s Degree in Business
Rico Adisurja Setiawan Administration
Administration in the field of
(President Indonesia 52 Male in the field of
Finance
Commissioner) Finance
• Bachelor’s Degree in Science
Totok Priyambodo Bachelor’s Degree in Civil Banking and
Indonesia 49 Male
(Commissioner) Engineering Finance
• Bachelor’s Degree in
Fendy Eventius Mugni Telecommunication
Telecommunications
(Independent Indonesia 51 Male Engineering;
and the Environment
Commissioner) • Master’s Degree in
Sustainability Energy Program
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Good Corporate
Governance
Name and Position Citizenship Age Gender Educational Background Expertise
Board of Directors
• Postgraduate Business -
International Finance (S2)
Pinohadi G. Sumardi
Indonesia 53 Male • Bachelor's degree (S1) of Finance
(President Director)
Economics-Finance
Management
• Master’s Degree in
William Francis Indra Management,
Indonesia 41 Male Management
(Director) • Bachelor’s Degree in
Mathematics
• Master’s Degree in
R. Eryawan Nurhariadi Management, Bachelor’s Economics
Indonesia 52 Male
(Director) • Degree in Management Management
Economics
Performance Assessment of the Board of
Commissioners and Board of Directors
Performance Assessment of the Board of Commissioners
The performance assessment on the Board of Commissioners is carried out through a self-assessment of the
performance of the Board of Commissioners and is reported and accounted for at the GMS.
Procedures for the Implementation of the Board of Commissioners’ Performance Assessment
1 2 3 4
Reporting the
Defining aspects Performance Assessment Accountability
Conducting
of supervision Results of the Board of Accepted/Rejected
Self-Assessment
Commissioners in the GMS by GMS
1. Risk Profile Remuneration
2. Good Corporate (Tantiem)
Governance
3. Profitability
4. Capital
The party conducting an assessment on the performance of the Board of Commissioners is the Board of Commissioners
conducting an independent assessment on the performance of the Board of Commissioners in 2023 (self-assessment).
In detail, the following is the performance assessment of the Board of Commissioners:
No Indicator Rating Weight Achievement
1 The Board of Commissioners periodically holds Meetings of the Board of
12,5% 100%
Commissioners at least 6 (six) times in 1 (one) year.
2 The Board of Commissioners periodically holds Joint Meetings with the Board of
12,5% 100%
Directors at least 4 (four) times in 1 (one) year.
3 The Board of Commissioners participates in development of knowledge, expertise,
and abilities through participation in seminars/training in accordance with their 12,5% 100%
respective duties area at least 1 (one) time in 1 (one) year.
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No Indicator Rating Weight Achievement
4 The Board of Commissioners prepares and submits Business Plan Supervisory
Report of Financial Company to the Regulator on a regular basis 2 (two) times in 1 12,5% 100%
(one) year.
5 The Board of Commissioners reviews, evaluates and provides approval on matters
that must be approved by the Board of Commissioners based on the prevailing 12,5% 100%
laws and regulations and the Company’s Articles of Association.
6 The Board of Commissioners has ensured that the Board of Directors follows-up
on audit findings and recommendations from the Internal Audit Division, external 12,5% 100%
auditors, OJK supervision results and/or supervision results by other authorities.
7 The Board of Commissioners ensures the implementation of the principles and
12,5% 100%
practices of Good Corporate Governance at all organization levels.
8 The Board of Commissioners ensures that the Committees under it, namely Audit
Committee, Risk Monitoring Committee, Nomination and Remuneration Committee
and Integrated Governance Committee have performed their duties and functions
properly and effectively according to applicable regulations. The indicators
measured in carrying out the duties and functions of the committees under the 12,5% 100%
Board of Commissioners are as follows:
• Implementation of Committee Meetings and Committee Work Plans
• Attendance rate and participation in Committee Meetings
• Submission of review results to the Board of Commissioner
Overall, the results of the assessment of the Board of Commissioners in 2023 are very good, with all aspects of the
assessment reaching 100%, so the performance of the Board of Commissioners during 2022 can be categorized as very
good.
Performance Assessment of the Board of Directors
The implementation process of performance assessment on the Board of Directors can be indicated by the Board
of Directors’ individual Key Performance Indicators (KPI) achievement as well as the Board of Directors collegial
KPI, which is assessed by Shareholders via the General Meeting of Shareholders (GMS) mechanism. The Board of
Directors’ performance is evaluated based on KPI achievements previously agreed upon by shareholders, the Board of
Commissioners, and the Board of Directors through the GMS mechanism. The criteria for assessing or evaluating the
performance of the Board of Directors are based on the Key Performance
Indicator (KPI), namely:
1. Financial Perspective
2. Customer Perspective
3. Internal Business Process Perspective
4. Development Initiative
The parties evaluating the performance of the Board of Directors are the Board of Commissioners and the GMS. In
assessing the performance of the Board of Directors, the Board of Commissioners refers to KPI indicators. Then, the
Board of Commissioners and Board of Directors will be accountable for their performance achievements during the
2022 period, including the implementation of the duties and responsibilities of the Board of Commissioners and Board
of Directors at the GMS to be held in 2023. The results of the performance assessment on the Board of Directors based
on KPI is presented in the following table.
No. Perspective KPI Weight Proportion Score
30.0% 34.1
Net Income (Rp M) 10.0% In accordance with RKAP 12.0
1 Finance PPOP (Pre Provison Operating Profit) (Rp. M) 10.0% In accordance with RKAP 12.0
Return on Equity (ROE) (%) 5.0% In accordance with RKAP 5.3
Gearing Ratio (x) 5.0% In accordance with RKAP 4.8
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Good Corporate
Governance
No. Perspective KPI Weight Proportion Score
30.0% 30.2
Bade Joint Finance (JF) 20.0% In accordance with RKAP 19.5
2 Customer
Marketshare - Bade OJK (%) 5.0% On target 5.4
Pembiayaan Porsi Captive (%) 5.0% On target 5.4
25.0% 28.105
Finance at Risk (%) 5.0% On target 6.5
CKPN to Finance at Risk (FAR Coverage) (%) 5.0% On target 6.5
Cost of Credit (CoC) (%) 5.0% In accordance with RKAP 3.865
Internal
3 Business Cost to Income Ratio (%) - CER 5.0% In accordance with RKAP 6.24
Processes
Minimum Fulfillment Percentage of IT
2.5% On target 2.5
Requirements (%)
Percentage of Mandiri Subsidiary Management
Principles Guideline (MSMPG) minimum 2.5% On target 2.5
compliance (%)
15.0% 15.0
Implementation of Project Sydney 10.0% On target 10.0
4 Development
Study of the B2B and B2B2C automotive
5.0% On target 5.0
business ecosystem (%)
TOTAL 100.0% 107.4
Overall, assessment results of the Board of Directors in 2022 were achieved well, with all assessment aspects reaching
107.44%, so that the performance of the Board of Directors during 2022 can be categorized as very good.
Nomination of the Board of Commissioners and
Board of Directors
The nomination policy of the Company’s Board of the financial sector; and
Commissioners and Board of Directors is based the d. Never been member of the Board of Directors
policy of PT Bank Mandiri (Persero) Tbk as the Company’s and/or Board of Commissioners who during his/
Majority/Controlling Shareholder. her tenure:
• Failed to hold an annual GMS;
Criteria and Requirements for the Board of • Responsibilities as member of the Board of
Commissioners and Board of Directors Directors and/or the Board of Commissioners
Criteria for the Board of Commissioners: once unaccepted by the GMS or failed to
1. Having good character, moral, and integrity; provide accountability as members of the Board
2. Capable in carrying out legal actions; of Directors and/or the Board of Commissioners
3. Passed the assessment of competence and propriety to the GMS; and
as required by applicable laws and regulations; • Ever caused a company that obtained a permit,
4. Within 5 (five) years prior to appointment and while approval, or registration from the Financial
serving: Services Authority failed to fulfill the obligation
a. Never been declared bankrupt; to submit annual report and/or financial
b. Never been member of the Board of Directors statement to Financial Services Authority.
and/or the Board of Commissioners who was 5. Have a commitment to comply with the laws and
found guilty of causing a company to be declared regulations; and
bankrupt; 6. Have knowledge and/or expertise in the field
c. Never been convicted of a criminal act that was required by the Issuer or Public Company.
detrimental to state finances and/or related to 7. Having domicile in accordance with the provisions of
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applicable laws and regulations; once unaccepted by the GMS or failed to
8. Bagi warga negara asing wajib memiliki perizinan provide accountability as members of the Board
yang ditetapkan peraturan perundang-undangan of Directors and/or the Board of Commissioners
yang berlaku untuk menetapkan dan bekerja di to the GMS; and
Indonesia dan memiliki pengetahuan terutama • Ever caused a company that obtained a permit,
mengenai kondisi perekonomian, budaya dan approval, or registration from the Financial
bahasa Indonesia; Services Authority failed to fulfill the obligation
9. Dilarang melakukan rangkap jabatan sebagai anggota to submit annual report and/or financial
Dewan Komisaris pada lebih dari 3 (tiga) Perusahaan statement to Financial Services Authority.
lain. Tidak termasuk dalam rangkap jabatan yaitu: 4. Memiliki komitmen untuk mematuhi peraturan
a. Anggota Dewan Komisaris non independen perundang-undangan; dan
menjalankan tugas fungsional dari pemegang 5. Memiliki pengetahuan dan/atau keahlian di bidang
saham Perusahaan yang berbentuk badan hukum yang dibutuhkan Perusahaan
pada kelompok usahanya;
b. Anggota Dewan Komisaris menduduki jabatan All members of the Board of Directors and Board of
pada organisasi atau lembaga nirlaba. Sepanjang Commissioners have met the applicable formal and
yang bersangkutan tidak mengabaikan material requirements, the formal requirements are
pelaksanaan tugas dan tanggung jawab sebagai general in nature, in accordance with applicable laws
anggota Dewan Komisaris Perusahaan. and regulations, while the material requirements are
10. Memiliki sertifikasi keahlian di bidang pembiayaan specific in nature, which are adjusted to the needs and
dari lembaga yang ditunjuk oleh asosiasi; nature of the Company’s business.
11. Memahami peraturan perundang-undangan di
bidang pembiayaan dan peraturan perundang- Nomination Process of the Board of
undangan lain yang relevan; Commissioners and Board of Directors
12. Memenuhi kriteria lain yang ditetapkan oleh The mechanism for nomination, appointment, and
regulator dan/atau peraturan perundang-undangan dismissal of the Board of Commissioners and Board
yang berlaku; dan of Directors is implemented through shareholders
13. Has never been a member of the Board of Directors decision which is then effective through Fit & Proper
of the same Company within the last 6 (six) months. Test following regulations from the OJK as the regulator
in the financial sector. The mechanism for dismissing
Criteria and Requirements for the Board the Board of Commissioners and Board of Directors
of Directors can be carried out at any time with the approval from
Criteria for the Company’s Board of Commissioners are: the shareholders and is declared not to meet the
1. Having good character, morals, and integrity; criteria for the following reasons:
2. Capable in carrying out legal actions; 1. Proven not able to fulfill obligations as agreed in the
3. Within 5 (five) years prior to appointment and while Management Contract.
serving: 2. Proven not able to carry out obligations properly.
a. Never been declared bankrupt; 3. Proven not to implement the laws and/or provisions
b. Never been member of the Board of Directors and/ contained in the Company’s Articles of Association.
or the Board of Commissioners who was found guilty 4. Proven to be involved in actions that are detrimental
of causing a company to be declared bankrupt; to the Compan y and/or the State.
c. Never been convicted of a criminal act that was 5. Proven to act violating ethics and/or propriety which
detrimental to state finances and/or related to are the obligations of all members of the Board of
the financial sector; and Directors.
d. Never been member of the Board of Directors and/or 6. Proven guilty based on a court decision that has
the Board of Commissioners who during his tenure: permanent legal force.
• Failed to hold an annual GMS; 7. Resignation.
• Responsibilities as member of the Board of
Directors and/or the Board of Commissioners
Proposal Procedure Up to Determination of Remuneration for the Board of
Commissioners and Board of Directors
The procedure for determining the remuneration of the Company’s Board of Commissioners and Board of Directors is
carried out by shareholders through GMS by taking into account the results of studies by the Company.
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Good Corporate
Governance
Remuneration of the Board of Commissioners
and Board of Directors
Remuneration for members of the Board of Commissioners and Board of Directors is based on the formula determined
by shareholders through GMS. It has been reviewed by the Board of Commissioners and Nomination & Remuneration
Committee through analysis by the shareholders. The decision to determine the remuneration for the Board of
Commissioners and the Board of Directors is determined through the GMS.
Scheme of Proposal Procedures up to Detrmination of Remuneration for the Board of Commissioners and Board of Directors
The Board of Commissioners The Board of Commissioners
considers the submits the remuneration Shareholders consider
recommendations of the proposal to recommendations from the
Nomination & Remuneration the shareholders. Board of Commissioners.
Committee.
Recommendations and
Determination of
proposals for remuneration for
remuneration for the Board
the Board of Commissioners and
Directors by the Nomination & of Commissioners and
Remuneration Committee to the Board of Directors through
Board of Commissioners. the GMS.
Remuneration Structure of the Board of Commissioners and Board of Directors
The income components of the Board of Commissioners and Board of Directors consist of Salary/Honorarium,
Allowances and Facilities, as well as Performance Tantiem/Incentives as work bonuses. The following is the
remuneration structure and components for the Board of Commissioners and Board of Directors:
Remuneration Structure of the Board of
Remuneration Structure of the Board of Directors
Commissioners
Honorarium of The Board of Commissioners Salary of The Board of Directors
Fixed income in the form of money received every Fixed income in the form of money received every month due to position
month due to position as members the Company’s as members of the Company’s Board of Directors, with the following
Board of Commissioners, with the following conditions:
conditions: • President Director’s salary is determined using internal
• Calculation of the President Commissioner’s shareholders guidelines.
salary is 45% of the President Director’s the • Salary of other members of the Board of Directors are determined
salary; by the composition of Position Factors of 90% of President
• Calculation of Commissioners salary is 90% of Director’s salary.
the President Commissioner’s salary. • The GMS is able to establish different Position Factors to the
provisions referred to if it is deemed more able to reflect equality
and fairness in carrying out the responsibilities of each member of
the Board of Directors and the ability of the Company.
Board of Commissioners Allowances Board of Directors Allowances
Income in the form of money or which can be valued Income in the form of money or can be valued in terms of money
in terms of money received at a certain time by received at a certain time by members of the Board of Directors other
members of the Board of Commissioners other than than salary.
Honorarium.
Facilities of The Board of Commissioners Facilities of The Board of Directors
Penghasilan berupa sarana dan/atau kemanfaatan Income in the form of facilities and/or benefits and/or guarantees used/
Income in the form of facilities and/or benefits and/ Utilized by members of the Board of Directors in the context of
or guarantees used/utilized by members of the Board implementing duties, authorities, obligations and responsibilities based
of Commissioners in the context of implementing on laws and regulations, which can be in the form of:
duties, authorities, obligations and responsibilities • Health Facilities/Insurance
based on laws and regulations, which can be in the • Legal Assistance Facility
form of:
• Health Facilities/Insurance
• Legal Assistance Facility
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Remuneration Structure of the Board of
Remuneration Structure of the Board of Directors
Commissioners
Tantiem/Performance Incentives for The Board of Tantiem of The Board of Directors
Commissioners Tantiem is given as an additional form of Long-Term Incentive (LTI)
Tantiem adalah Penghasilan yang merupakan • Tantiem is income as award given to members of the Board of
penghargaan yang diberikan kepada anggota Dewan Directors in the event that they earn profits and experienced no
Komisaris apabila memperoleh laba dan tidak accumulated losses.
mengalami akumulasi kerugian. • Performance incentives are income as award given to members of
• Performance incentives are income as award the Board of Directors in the event there is an increase in
given to members of the Board of performance even though it still suffers losses or accumulated
Commissioners. losses.
Basic Policy Related to Indicators and Determination of Remuneration for the Board of
Commissioners and the Board of Directors in 2023
Remuneration for the Board of Directors and Board of Commissioners refers to the decisions of the shareholders as
stipulated in the GMS by taking into account the results of studies by the Company. The study results are the material
proposed by the Board of Commissioners to be submitted to the Shareholders. Based on Article 96 paragraph (1) Law
No. 40 of 2007 on Limited Liability Company, which regulates the amount of salary and allowances for the Board of
Directors is determined by the GMS resolution. Based on Article 96, paragraph (2), the authority can be delegated to
the Board of Commissioners. The following are aspects of the review of the determination of the remuneration of the
Board of Commissioners and the Board of Directors.
Financial
performance and Applicable regulations/ Consideration of
Individual
achievement of laws, as well as fairness the Company’s
work
the Company’s with other industries/ long-term goals
performance
Key Performance companies and strategies
Indicator (KPI)
The Board of Commissioners determines the basis for determining remuneration for the Board of Directors based on
the balance scorecard method using predetermined parameters.
The performance assessment of the Board of Directors during 2023 was carried out based on the balance scorecard
method using the following parameters:
1. Performance achievement in accordance with the Company’s Work Plan and Budget (RKAP), which includes
achieving target financial figures, such as volume of financing, profitability, joint financing, cost efficiency ratio,
cost of credit, and non-performing financing receivables.
2. Improvement and development of financing business processes, including credit processes, operational processes,
marketing processes, and collection processes.
3. Expansion of business networks and increase in alliance cooperation.
4. Strategic with the Group and the development of cooperation with dealers and showrooms.
5. Development of human capital and enhancement of corporate branding.
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Transparency of Remuneration of the Board of Commissioners and Board of Directors in 2023
The following is information on the nominal amount of remuneration for the Board of Commissioners and Board of
Directors:
Position
Remuneration Component Board of Commissioners Board of Directors
(3 positions) (RP) (3 positions) (RP)
Salary/Honorarium 2.511.490.000 5.673.600.000
Allowance 2.465.299.335 7.737.573.464
Health Insurance 128.947.739 163.115.200
Jamsostek - 239.507.450
Bonus/Tantiem 2.603.250.000 6.750.000.000
Holiday Allowance 229.236.400 504.574.443
Based on the data on the components of remuneration received by the Board of Commissioners and the Board of
Directors, the calculation of nominal remuneration based on position is as follows:
Description Total (Rp)
Total Remuneration of the Board of Commissioners 7.938.223.474
Total Remuneration of the Board of Directors 21.068.370.557
Total Remuneration of the Board of Commissioners and
29.006.594.031
Board of Directors in 2023
Salary Ratio Information
The salary compared to the salary ratio is the reward received by members of the Board of Directors, Board of
Commissioners and employees in the latest month of the reporting year. The ratio of the highest and lowest salary,
in the following comparison scale:
1. the ratio of the highest and lowest employee salary;
2. the ratio of the highest and lowest salary of members of the Board of Directors;
3. the ratio of the highest and lowest salary of members of the Board of Commissioners; and
4. the ratio of the highest Directors and highest employee salary.
The following is information regarding the salary ratio of the Company’s Board of Commissioners, Board of Directors
and Employee:
Ratio 2023 2022
The ratio of the highest and lowest salary of members of the Board of Directors 1:1,18 1:1,18
The ratio of the highest and lowest salary of members of the Board of Commissioners 1:1,36 1:1,36
The ratio of the highest Board of Directors and highest employee salary 1:1,27 1:1,27
The ratio of the highest and lowest employee salary 1:64,37 1:64,75
Note: The highest employees in the table above are Board of Directors, while the lowest employees are staffs
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Meeting of the Board of Commissioners and
the Board of Directors
Meeting of the Board of Commissioners
The guidelines for the Board of Commissioners stipulate that meetings should be held at least every 2 (two) months,
and during these meetings, the Board of Commissioners may invite the Board of Directors. All decisions by the Board
of Commissioners are made during the Board of Commissioners meetings. The Board of Commissioners may convene
a meeting at any time upon the request of 1 (one) or several members of the Board of Commissioners, at the request
of the Board of Directors, or upon a written request from 1 (one) or several Shareholders representing at least 1/10
(one-tenth) of the total voting shares, specifying the matters to be discussed.
Di In 2023, the Board of Commissioners held 6 Internal Meetings of the Board of Commissioners. The following is
the agenda and minutes of meetings, attendance, and a recapitulation of the level of attendance of the Board of
Commissioners at these meetings.
Recapitulation of Board of Commissioners Attendance at Board of Commissioners Internal Meetings
Board of Commissioners Number of Mandatory
Number of Attendance Attendance (%)
Meetings
Rico Adisurja Setiawan
6 6 100%
(President Commissioner)
Totok Priyambodo
6 6 100%
(Commissioner)
Fendy Eventius Mugni
3 3 100%
(Independent Commissioner)**
Ravik Karsidi
3 3 100%
(Independent Commissioner)*
Average 100%
*) dismissed at the GMS on June 27, 2023
**) active on December 8, 2023 after the decision of the fit and proper test results by OJK
Minutes of Internal Meetings of the Board of Commissioners and Attendance of the Board of Commissioners
Reasons for the
Meeting Absence of the
Venue & Date Meeting Agenda
Participants Board of
Commissioners
• Discussion of the Audit Committee Report
Board of
Jakarta, January 24, 2023 • Discussion of the Risk Monitoring Committee -
Commissioners
Report
• Discussion of the Audit Committee Report
• Discussion of the Risk Monitoring Committee
Board of
Jakarta, March 24, 2023 Report -
Commissioners
• Discussion on the Increase in Bank Facility
Loans and Disclosure of Bond Issuance
• Discussion of the Audit Committee Report
• Discussion of the Risk Monitoring Committee
Report Board of
Jakarta, June 27, 2023 -
• Discussion on the Increase in Facility Loans from Commissioners
Bank of India, Bank Maspion, Bank Danamon,
Bank Panin, PT Sarana Multigriya Finansial (SMF)
• Discussion of the Audit Committee Report
Board of
Jakarta, September 21, 2023 • Discussion of the Risk Monitoring Committee -
Commissioners
Report
Discussion on Corporate Governance Perception Board of
Jakarta, October 20, 2023 -
Index (CGPI) Preparation Commissioners
Further Discussion Regarding the Proposed 2024 RKAP Board of
Jakarta, November 2, 2023 -
(Annual Work Plan and Budget) Commissioners
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Recapitulation of the Attendance of the Board of Commissioners at the GMS
Board of Commissioners Number of Mandatory
Number of Attendance Attendance (%)
Meetings
Rico Adisurja Setiawan (President
2 2 100%
Commissioner)
Totok Priyambodo (Commissioner) 2 2 100%
Fendy Eventius Mugni
1 1 100%
(Independent Commissioner)**
Ravik Karsidi
1 1 100%
(Independent Commissioner)*
*) dismissed at the GMS on June 27, 2023
**) active as of December 8, 2023 after the decision on the fit and proper test results by the OJK
Board of Directors Meeting
The Board of Directors holds internal meetings at least once a month with a monthly agenda prepared by the Corporate
Secretary. Please provide information on the meeting obligations in the board manual.
The meeting decision-making mechanism implemented by the Board of Directors refers to the Work Guidelines.
Decisions of the Board of Directors meetings are taken based on deliberation to reach consensus. In the event that a
consensus agreement is not reached, the decision is taken based on the most votes. The Board of Directors meeting
consists of internal meetings and meetings by inviting the Directors to discuss various aspects of the Company’s
operational and financial management.
Throughout 2023, the Board of Directors held 51 meetings. The following is the agenda and minutes of meetings,
attendance, and a recapitulation of the level of attendance of the Directors at these meetings.
Recapitulation of Board of Directors Attendance at Board of Directors Meetings
Number of Mandatory
Board of Directors Number of Attendance Attendance (%)
Meetings
Pinohadi G. Sumardi
51 51 100%
(President Director)
William Francis Indra
51 50 98%
(Director)
R. Eryawan Nurhariadi
51 48 94%
(Director)
Average 51 49.67 97.39%
Minutes of Meeting and Attendance of the Board of Directors
Reason of
Venue & Date Meeting Agenda Participants
Absence
All Member of the
Jakarta, January 2, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion All Member of the
Jakarta, January 9, 2023 -
Discussion on Finalizing MPI 2023 Board of Directors
Board of Directors General Discussion
Discussion on Collection Review
All Member of the
Jakarta, January 16, 2023 Final Internal Trip Update -
Board of Directors
Discussion on MTF’s Anniversary and National Meeting 2023
Policy Discussion on WO and Repo Sold
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Minutes of Meeting and Attendance of the Board of Directors
Reason of
Venue & Date Meeting Agenda Participants
Absence
Board of Directors General Discussion
Update Meeting of Sales & Credit (Billionaire Stars) & Best
Employee Event (Star of The Year)
All Member of the
Jakarta, January 30, 2023 Discussion on Risk Profile Q4-2022 -
Board of Directors
Discussion on Worst Performing Branches EPD (Kelapa
Gading Branch, Pecenongan Branch, Bandung 2 Branch,
Surabaya 2 Branch)
All Member of the
Jakarta, February 6, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, February 13, 2023 Discussion on Kickoff Meeting for Annual Report (AR) and -
Board of Directors
Sustainability Report (SR) 2022
Board of Directors General Discussion
Discussion on OS Jamkrindo Claim All Member of the
Jakarta, February 20, 2023 -
Discussion on Board Forum Q4-2022 Agenda Board of Directors
Discussion on MTF Organizational Structure
Board of Directors General Discussion
All Member of the
Jakarta, February 27, 2023 Discussion on Confirmation Results & Decision of Employee -
Board of Directors
Sanctions on BMRI Audit Findings
Board of Directors General Discussion All Member of the
Jakarta, March 6, 2023 -
National EPD Presentation Board of Directors
All Member of the
Jakarta, March 13, 2023 Board of Directors General Discussion -
Board of Directors
Update on Matraman Branch Investigation All Member of the
Jakarta, March 14, 2023 -
Discussion on Management Letter Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, March 20, 2023 Presentation on the Performance of the Worst EPD -
Board of Directors
(Palembang 2, Bukittinggi Branches)
Board of Directors General Discussion
All Member of the
Jakarta, March 27, 2023 Update on Company Health Level Material - OJK -
Board of Directors
Update on BPR Retail 2023 Management Aspiration
Board of Directors General Discussion
Discussion on Accounting System
Jakarta, April 3, 2023 Seluruh Direksi -
Discussion on Analysis of Rp 1 Trillion Profit
Update on Business Process Re-Engineering for BPR Fleet 2023
Board of Directors General Discussion
All Member of the
Jakarta, April 10, 2023 Discussion on WMP Credit Retail -
Board of Directors
Discussion on VIP Trip
Board of Directors General Discussion
Discussion on Periklindo Electric Vehicles Show 2023
All Member of the
Jakarta, April 17, 2023 Discussion on Trip Itinerary -
Board of Directors
Discussion on Fintech Channeling
Discussion on Profits of Rp 1.2 T
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Good Corporate
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Minutes of Meeting and Attendance of the Board of Directors
Reason of
Venue & Date Meeting Agenda Participants
Absence
Board of Directors General Discussion
All Member of the
Jakarta, May 2, 2023 Update on MTF Investor Gathering 2023 -
Board of Directors
Discussion on MTF HO Space Rental Needs
All Member of the
Jakarta, May 8, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion All Member of the
Jakarta, May 16, 2023 -
Update on MTF Investor Gathering 2023 Board of Directors
Board of Directors General Discussion
Discussion on MTF Golf Tournament 2023 All Member of the
Jakarta, May 22, 2023 -
Board of Directors
Discussion on Proposal for Direct Impact Project Initiative
Regarding Efficiency
All Member of the
Jakarta, May 29, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, June 5, 2023 Discussion on Best Employee All Supervisor (SPV) Meeting -
Board of Directors
and Best Employee Trip
Board of Directors General Discussion All Member of the
Jakarta, June 19, 2023 -
Discussion on GIIAS Semarang 2023 Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, June 26, 2023 Update on Sanctions Decision Regarding Investigation -
Board of Directors
Results at Branches Padang, Matraman, and Bandung I
All Member of the
Jakarta, July 3, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion All Member of the
Jakarta, July 10, 2023 -
Update on Changes to MTF Customer Grading Board of Directors
Board of Directors General Discussion
Update on Golf Tournament 3.0
Discussion on GIIAS 2023
All Member of the
Jakarta, July 17, 2023 Discussion on Shared Service Mandiri Group (Project Orion) -
Board of Directors
Update on the Implementation of ESG in Mandiri Group
Discussion on Risk Mitigation for Non-Branch Representative
Offices Reporting
Board of Directors General Discussion All Member of the
Jakarta, July 24, 2023 -
Update on the Board Forum Q2-2023 (MTF & MUF as Host) Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, July 31, 2023 Discussion on Review of the Composition of the Batubara -
Board of Directors
Sector
Board of Directors General Discussion All Member of the
Jakarta, August 7, 2023 -
Update on the Implementation of the Board Forum Q2 2023 Board of Directors
All Member of the
Jakarta, August 8, 2023 Discussion on Routine Reports to Regulato -
Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, August 14, 2023 Discussion on Anti-Fraud Work Plan & Changes to the -
Board of Directors
Structure of the Fraud Committee & Discipline Committee
All Member of the
Jakarta, August 21, 2023 Board of Directors General Discussion -
Board of Directors
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Minutes of Meeting and Attendance of the Board of Directors
Reason of
Venue & Date Meeting Agenda Participants
Absence
Board of Directors General Discussion
All Member of the
Jakarta, August 28, 2023 Committee Project Update - Digital Project -
Board of Directors
Restructuring and Auction Sales Allocation
All Member of the
Jakarta, September 4, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, September 11, 2023 Discussion on Sanction Decisions Resulting from Branch Audit -
Board of Directors
Findings for Kelapa Gading, Kebon Jeruk, and Bintaro Branches
Board of Directors General Discussion
All Member of the
Jakarta, September 18, 2023 Final Update on Spectravel - Reward Trip for National Dealers -
Board of Directors
Discussion on Settlement of Jamkrindo Claims
Board of Directors General Discussion
Discussion on Low Down Payment NC Passenger &
Implementation of NC Commercial Truck
All Member of the
Jakarta, September 25, 2023 Update on Business Strategy and Financial Projection for -
Board of Directors
2023 and 2024
Discussion on General Audit Results of Operation, Legal, &
SLIK as well as Investigation Results of Bandung I Branch
Board of Directors General Discussion All Member of the
Jakarta, October 2, 2023 -
2024 Business Strategy Update Board of Directors
Board of Directors General Discussion All Member of the
Jakarta, October 9, 2023 -
Corporate Secretary Strategy Discussion Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, October 16, 2023 Discussion on Bank Mandiri's Whitelist Program & MTF's -
Board of Directors
Autofiesta Event
Board of Directors General Discussion
All Member of the
Jakarta, October 23, 2023 Update on Sanctions Decision Resulting from Investigation: -
Board of Directors
Regional 5,6,7,8, Padang, Multiguna Palembang
Board of Directors General Discussion All Member of the
Jakarta, October 30, 2023 -
Fleet & Retail BPR Update Board of Directors
Board of Directors General Discussion
All Member of the
Jakarta, November 6, 2023 Discussion on MTF's Response to Letter from BMRI Regarding -
Board of Directors
the Quality Case of the Palembang Branch
All Member of the
Jakarta, November 13, 2023 Board of Directors General Discussion -
Board of Directors
Board of Directors General Discussion
Discussion on Fraud Findings in MTF Business Processes
(Matraman Branch, Kebon Jeruk, Bintaro, & Denpasar) All Member of the
Jakarta, November 20, 2023 -
Discussion on Implementation of Review of MTF Soundness Board of Directors
Assessment Methodology for Semester 2 - 2023
Discussion on Settlement of Jamkrindo Claims
Board of Directors General Discussion
Discussion on PEVS 2024 Sponsorship
Further Discussion on Fraud Case Material (Update from All Member of the
Jakarta, November 27, 2023 -
Bank Mandiri Director) Board of Directors
Discussion on Authorization Provisions for Corporate Fleet
Financing Decision Makers
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Good Corporate
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Minutes of Meeting and Attendance of the Board of Directors
Reason of
Venue & Date Meeting Agenda Participants
Absence
Board of Directors General Discussion
Discussion on Credit & Accounts Receivable Function
Organizational Structure All Member of the
Jakarta, December 4, 2023 -
Discussion on Profitability by Holding Board of Directors
Discussion on Drafting Annual Report (AR) & Sustainability
Report (SR)
Board of Directors General Discussion
All Member of the
Jakarta, December 11, 2023 Performance Update on MTF 1 Access Implementation -
Board of Directors
Discussion on Support Data for Closing Financial Reports
Board of Directors General Discussion
Discussion on Liquidity & Pricing Conditions MTF - ALCO
All Member of the
Jakarta, December 18, 2023 Discussion on Health Insurance -
Board of Directors
Discussion on Implementation of Risk Management
Organization in accordance with Ministry of SOEs Regulations
All Member of the
Jakarta, December 27, 2023 Board of Directors General Discussion -
Board of Directors
Recapitulation of Board of Directors Attendance at GMS
Number of Mandatory
Board of Directors Number of Attendance Attendance (%)
Meetings
Pinohadi G. Sumardi
2 2 100
(President Director)
William Francis Indra
2 2 100
(Director)
R. Eryawan Nurhariadi
2 2 100
(Director)
Joint Meeting of the Board of Commissioners and Board of Directors
A joint meeting serves as a coordination platform to discuss the periodic reports of the Board of Directors and provide
feedback, notes, and advice documented in the meeting minutes. Decisions are made based on the principle of
deliberation for consensus or by majority vote and are binding for follow-up actions. Joint meetings between the
Board of Commissioners and the Board of Directors are held at least once every four months or as needed. Meeting
minutes are prepared by the Corporate Secretary after the meeting and signed by all attending members of the Board
of Directors and the Board of Commissioners.
Throughout the year 2023, joint meetings between the Board of Commissioners and the Board of Directors were
held five times. The agenda, meeting minutes, attendance, and a summary of the attendance levels of the Board of
Commissioners and the Board of Directors in these meetings are provided below.
Recapitulation of Attendance of the Board of Commissioners and the Board of Directors at Joint Meetings
Number of Mandatory Number of
Position Attendance (%)
Meetings Attendance
Rico Adisurja Setiawan
5 5 100%
(President Commissioner)
Totok Priyambodo
5 5 100%
(Commissioner)
Fendy Eventius Mugni
2 2 100%
(Independent Commissioner)**
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Recapitulation of Attendance of the Board of Commissioners and the Board of Directors at Joint Meetings
Number of Mandatory Number of
Position Attendance (%)
Meetings Attendance
Ravik Karsidi
3 3 100%
(Independent Commissioner)*
Pinohadi G. Sumardi
5 5 100%
(President Director)
William Francis Indra
5 5 100%
(Director)
R. Eryawan Nurhariadi
5 4 80%
(Director)
Average 98%
*) dismissed at the GMS on June 27, 2023
**) active on December 8, 2023 after the decision of the fit and proper test results by OJK
Minutes of Joint Meeting of the Board of Commissioners and Board of Directors
Reason for Absence
of the Board
Venue & Date Meeting Agenda Meeting Participant of Commissioners
and Board of
Directors
Update on COVID-19 Situation in MTF and The Board of Commissioners
Jakarta, January 24, 2023 -
MTF Performance Update and the Board of Directors
The Board of Commissioners
Jakarta, March 24, 2023 Update Performance MTF -
and the Board of Directors
• MTF Performance Update The Board of Commissioners
Jakarta, June 27, 2023 -
• Presentation of Revised RKAP 2023 and the Board of Directors
• Discussion on Additional Loan
Facilities from CCB Indonesia, DBS The Board of Commissioners
Jakarta, September 21, 2023 -
Bank, BRI Bank & Mandiri CBC and the Board of Directors
• MTF Performance Update
• MTF Performance Update The Board of Commissioners
Jakarta, October 20, 2023 -
• Proposal for RKAP 2024 and the Board of Directors
Disclosure of Affiliation Relationships between the
Board of Directors, Board of Commissioners, and
Major Shareholders and/or Controllers
The shareholders are legal entities that lawfully own shares of the Company. The majority shareholder of the Company
is PT Bank Mandiri (Persero) Tbk, which owns 51.00% of the Company’s shares. Meanwhile, PT Tunas Ridean owns
49.00% of the Company’s shares. Both of these Shareholders act as the Controlling Shareholders of the Company.
Disclosure of Affiliation Relationships Between the Board of Directors, Board of Commissioners, and Major Shareholders/
Controllers Major Shareholders/Controllers, the Board of Commissioners, and the Board of Directors mutually respect
the execution of their duties, responsibilities, and authorities in accordance with the prevailing laws and the Articles
of Association. The Board of Commissioners and the Board of Directors of the Company have guidelines and rules of
procedure that include their respective responsibilities, obligations, authorities, and rights.
In accordance with the Company’s Articles of Association, there is no family relationship up to the third degree among
members of the Board of Commissioners as well as between members of the Board of Commissioners and the Board
of Directors, either in a straight line or sideways or seminal relationship. Family relationship of members of the
2023 Annual Report | PT Mandiri Tunas Finance 189
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Good Corporate
Governance
Board of Commissioners and fellow members of the Board of Commissioners and/or Board of Directors and Majority/
Controlling Shareholders is presented in the following table.
Affiliate Relationship
Name & Position Board of
Board of Directors Shareholders
Commissioners
Board of Commissioners
Rico Adisurja Setiawan
(President Commissioner)
X X V
Totok Priyambodo
(Commissioner)
X X V
Fendy Eventius Mugni
(Independent Commissioner)
X X X
Board of Directors
Pinohadi G. Sumardi
(President Director)
X X X
William Francis Indra
(Director)
X X X
R. Eryawan Nurhariadi
(Director)
X X X
Ket: V= there is an affiliation | X = there is no affiliation
Disclosure of Concurrent Positions of the Board of
Commissioners and Board Directors
In accordance with the provisions of OJK Regulation No. POJK.04/2014 concerning Directors and Commissioners
30/POJK.05/2014 as amended by OJK Regulation No. 29/ of Issuers or Public Companies, which include the
POJK.05/2020 concerning Good Corporate Governance for following provisions:
Financing Companies, regarding concurrent positions of 1. Members of the Board of Commissioners may hold
members of the Board of Commissioners, it is regulated concurrent positions as:
as follows: a. Directors in a maximum of 2 (two) other issuers or
1. Members of the Board of Commissioners are public companies; and
prohibited from holding concurrent positions as b. Commissioners in a maximum of 2 (two) other
members of the Board of Commissioners in more issuers or public companies.
than 3 other financing companies. 2. In the event that members of the Board of
2. Concurrent positions are not included if: Commissioners do not concurrently hold positions as
a. Non-independent members of the Board of Directors, they may hold positions as Commissioners
Commissioners perform functional tasks on in a maximum of 4 (four) other issuers or public
behalf of the shareholders of a financing companies.
company that is a legal entity within its business 3. Members of the Board of Commissioners may hold
group; and/or concurrent positions as members of committees in a
b. Members of the Board of Commissioners hold maximum of 5 (five) committees in issuers or public
positions in non-profit organizations or institutions, companies where they also serve as members of the
provided that they do not neglect their duties Board of Directors or Board of Commissioners.
and responsibilities as members of the Board of 4. In the event that there are other laws and regulations
Commissioners of the financing company. governing concurrent positions that differ from
Additionally, as an issuer, members of the Board of the provisions in this OJK regulation, the stricter
Commissioners are also subject to regulations regarding provisions shall apply.
concurrent positions stipulated in OJK Regulation No. 33/
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05
Similarly, with regard to the members of the Board of b. Members of the Board of Commissioners in a
Directors, the matter of holding concurrent positions maximum of 3 (three) other issuers or public
for members of the Company’s Board of Directors is companies; and/or
regulated, among others, in OJK Regulation No. 30/ c. Members of committees in a maximum of 5 (five)
POJK.05/2014 concerning Good Corporate Governance committees in issuers or public companies where
for Financing Companies and OJK Regulation No. 33/ they also serve as members of the Board of
POJK.04/2014 concerning the Board of Directors and Directors or Board of Commissioners.
Board of Commissioners of Issuers or Public Companies. 2. Concurrent positions may only be held as long as
In accordance with the provisions of Article 9 of OJK they do not conflict with other laws and regulations.
Regulation No. 30/POJK.05/2014 concerning Good Corporate 3. In the event that other laws and regulations stipulate
Governance for Financing Companies, members of the provisions regarding concurrent positions that differ
Board of Directors of Financing Companies are prohibited from the provisions of this OJK Regulation, the
from holding concurrent positions except as members of stricter provisions shall apply.
the Board of Commissioners in a maximum of 3 (three) other
financing companies. The exception to holding concurrent The holding of concurrent positions as mentioned above
positions is when a member of the Board of Directors is may only be done as long as they do not conflict with
responsible for overseeing investments in subsidiaries other laws and regulations. In the event that other
engaged in financing, performing functional duties as a laws and regulations stipulate provisions regarding
member of the Board of Commissioners in subsidiaries concurrent positions that differ from the provisions of
controlled by the Company, provided that such concurrent this OJK Regulation, the stricter provisions shall apply.
positions do not result in neglect of duties and authorities
as a member of the Board of Directors of the Company. Based on the data available to us up to the date of
issuance of this Annual Report, all members of the Board
In accordance with Article 6 of OJK Regulation No. 33/ of Commissioners and the Board of Directors still comply
POJK.04/2014 concerning the Board of Directors and Board with the provisions regarding concurrent positions
of Commissioners of Issuers or Public Companies, the as regulated in OJK Regulation No. 30/POJK.05/2014,
provisions regarding concurrent positions for members of POJK No. 29/POJK.05/2020, and OJK Regulation No. 33/
the Board of Directors are regulated as follows: POJK.04/2014.
1. Members of the Board of Directors may hold
concurrent positions as: Below is the disclosure of concurrent positions held by
a. Members of the Board of Directors in a maximum the Board of Commissioners and the Board of Directors
of 1 (one) other issuer or public company; of the Company as of December 31, 2023.
Management in Other Companies
Name & Position As Member of the As Member of the
Board Board Other Positions
of Commissioners of Directors
Board of Commissioners
Rico Adisurja Setiawan
(President Commissioner)
V V V
Totok Priyambodo
(Commissioner)
X X V
Fendy Eventius Mugni
(Independent Commissioner)
V X V
Board of Directors
Pinohadi G. Sumardi
(President Director)
X X X
William Francis Indra
(Director)
X X X
R. Eryawan Nurhariadi
(Director)
X X X
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Good Corporate
Governance
President Commissioner, Rico Adisurja Setiawan, has the PT Mobilindo Perkasa
following concurrent positions: • 2017 – Present : President Commissioner of PT Mandiri
• 1997 – Present : President Director of PT Tunas Tunas Finance
Mobilindo Parama
• 2005 – Present : President Director of PT Tunas Asset Independent Commissioner, Fendy Eventius Mugni,
Sarana holds concurrent positions as follows:
• 2005 – Present : President Director of PT Surya Mobil • Since 2015 - Present: Independent Commissioner of
Megahtama PT Hotel Indonesia Natour (Persero)
• 2005 – Present : Director of PT Surya Sudeco • Since 2023 - Present: Independent Commissioner of
• 2010 – Present : President Director of PT Tunas Ridean PT Mandiri Tunas Finance
Tbk
• 2010 – Present : Commissioner of PT Rahardja Commissioner, Totok Priyambodo, holds concurrent
Ekalancar positions as follows:
• 2013 – Present : President Commissioner of PT Tunas • Since 2020 - Present: Senior Executive Vice President
Dwipa Matra Commercial Banking of PT Bank Mandiri (Persero)
• 2015 – Present : President Commissioner of PT Asia Tbk.
Surya Perkasa • Since 2022 - Present: Commissioner of PT Mandiri
• 2017 – Present : President Commissioner of Tunas Finance
Disclosure of Share Ownership of the Board of
Commissioners and the Board of Directors
Share ownership of members of the Board of Commissioners and the Board of Directors of the Company and other
companies is always disclosed regularly through a list of shareholdings of members of the Board of Commissioners
and the Board of Directors. All members of the Board of Commissioners and the Board of Directors must submit the
disclosure of securities purchase and sale transactions to FSA no later than 10 days after the transaction occurred.
The following is the transparency of the Company’s share ownership by the Board of Commissioners and the Board
of Directors, and share ownership of other companies above 5% by the Board of Commissioners and the Board of
Directors of the Company, which can cause potential conflicts of interests in decision making.
Share Ownership of the Board of Commissioners and the Board of Directors as of December 31, 2023
Share Ownership
Name & Position
Mandiri Tunas Finance Other Company >5%
Board of Commissioners
Rico Adisurja Setiawan
(President Commissioner)
X X
Totok Priyambodo
(Commissioner)
X X
Ravik Karsidi
(Independent Commissioner)
X X
Board of Directors
Pinohadi G. Sumardi
(President Director)
X X
William Francis Indra
(Directors)
X X
R. Eryawan Nurhariadi
(Directors)
X X
The Company has no share ownership program or policy by either management or employees. The Company also
does not trade its shares on any stock exchange. Therefore, there are no Company shares owned by management or
employees.
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Supporting Organs of the Board of Commissioners
In running the supervisory duties, the Board of In general, the Audit Committee was formed to maintain
Commissioners is assisted by 3 (three) committees, and secure the Company’s business activities in carrying
namely Audit Committee, Nomination and Remuneration out the oversight function, particularly in improving the
Committee, and Risk Monitoring Committee. quality of financial reports, the effectiveness of internal
control over the Company’s management, and compliance
Audit Committee with applicable laws and regulation, especially in terms of:
The Audit Committee is established by the Board of 1. Improving the quality of financial reports.
Commissioners to assist in overseeing the functions 2. Ensuring the effectiveness of the internal control
of the Board of Directors in managing the Company system, which can reduce the possibility of
in accordance with the principles of good corporate irregularities in the company’s management.
governance. Audit Committee can provide opinions and 3. Oversee the qualifications and independence of
assistance to the Board of Commissioners in fulfilling internal and external audit functions in order to
responsibilities, which include oversight of the financial enhance internal and external audit functions
reporting system and process, the audit process of performance and effectiveness.
the Company’s financial statements, and evaluation 4. Identify issues that require the Board of
of the implementation of internal controls. This Commissioners’ attention, such as the company’s
involves assessing the performance of the Company’s compliance with the applicable regulations and laws.
Internal Auditor, supervising technical and operational
performance, and ensuring compliance with other laws Criteria for Members of the Audit Committee
and regulations. Members of the Audit Committee must comprehend
the Company’s business activities, have high ethics,
The Board of Commissioners appoints and removes the ability, knowledge, and experience in their field of
all members of the Audit Committee, who are then work, and be able to communicate properly. Members
notified to the shareholders. The Audit Committee was of the Audit Committee must also understand financial
established in accordance with FSA Regulation No. reports, auditing processes, risk management, and
55/ POJK.04/2015 concerning the Establishment and capital market laws and regulations, as well as other
Implementation of Audit Committee Work. related laws and regulations.
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Governance
The criteria for becoming a member of the Company’s Term of Office
Audit Committee are as follows: The membership of the Audit Committee is appointed
1. Demonstrates good integrity, ethics, and moral and dismissed by the Board of Commissioners, with
character. a term of office not exceeding the term of office of
2. Possesses adequate skills, abilities, knowledge, the Board of Commissioners, as stipulated in the
and experience relevant to their duties and Articles of Association, and can be re-elected for only
responsibilities. the next 1 (one) period. The Chairman of the Audit
3. At least one member of the Audit Committee must have Committee has the right to propose candidates for
an educational background in accounting or finance. replacement, honorarium, and allowances for Audit
4. Has sufficient knowledge to read and understand Committee members if any of the Audit Committee
financial statements. members end their term, replacement is gradual/not
5. Possesses adequate knowledge of company finance simultaneous, resignation, or termination.
regulations and other relevant legislation.
6. Not affiliated with any Public Accounting Firm, Law Composition and Structure of Audit Committee
Consulting Firm, or Public Appraisal Service Firm Members in 2023
that has provided audit or consulting services to The Audit Committee membership comprises at least one
the company within the last 6 months prior to being (one) independent commissioner and 2 (two) members.
appointed to the Audit Committee. The Audit Committee Chairman is a member of the audit
7. Not employed or vested with the authority and committee who is also an Independent Commissioner
responsibility to plan, lead, or control the company’s of the Company. Members of the Audit Committee
business activities within the last 6 months prior to are experts who are not employees of the Company
appointment, except for Independent Commissioners. and have no financial connection with the Company.
8. Does not hold any direct or indirect shares in the Establishment of the Company’s Audit Committee in
Company. compliance with FSA Regulation No. 55/ POJK.04/2015
9. Does not have personal interests or affiliations that concerning the Establishment and Guidelines for the
may lead to conflicts of interest with the Company. Implementation of Audit Committee Work.
In 2023, the composition of the Audit Committee membership are as follows:
Name Position Basis of Appointment Term of Office Tenure
Chairman of Audit The Board of Commissioners Decree Following
Committee/ No. KEP.KOM/008/2023 concerning the term of office of
Fendy Eventius Mugni 1st
Independent Changes in Audit Committee Independent
Commissioner Members Commissioner
The Board of Commissioners Decree
Member/ No. KEP.KOM/010/2020 concerning October 9, 2020
Indra Riyawan 2nd
Independent Party Changes in Audit Committee – October 9, 2023
Members
The Board of Commissioners Decree
Member/ No. KEP.KOM/007/2023 concerning December 12, 2023
Marlan Marthias Achmad 1st
Independent Party Changes in Audit Committee – December 12, 2026
Members
Profile of the Audit Committee
The profile of the Chairman of Audit Committee, Fendy Eventius Mugni, can be seen in the profile of the Board of
Commissioners section in the Company Profile chapter of this Annual Report. The following is profile of the Audit
Committee Members who are non-Commissioners from independent parties are as follows:
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Name Indra Riyawan
Position Member of Audit Committee
The Board of Commissioners Decree No. KEP.KOM/008/2023 concerning Changes in Audit
Basis of Appointment
Committee Members
Term of Office September 15, 2023-September 15, 2026
Tenure 2nd Period
Age 48 years old
Nationality Indonesia
Domicile Jakarta
Bachelor Degree (S1) of Mechanical Engineering from National Institute of Science & Technology
Educational Background
(2003)
He has served as Administration Control General Manager at PT Tunas Ridean (2017-2020),
Administration General Manager at PT Asia Surya Prakasa (2015-2017), Business Process,
Work Experience
Administration & GA Manager at PT Tunas Dwipa Matra (2009-2014) and Logistic Planning &
Development Officer at PT Toyota Astra Motor (2000-2009). IT Consultant (2020-Current).
In the Company: None
Concurrent Position
Outside the Company: None
Name Marlan Marthias Achmad
Position Audit Committee Member
Decree of the Board of Commissioners No. KEP.KOM/007/2023 on the Appointment of Audit
Basis of Appointment
Committee Members
Term of Office September 15, 2023-September 15, 2026
Tenure 1st Period
Age 56 years old
Nationality Indonesia
Domicile Jakarta
• Master of Management, Financial Management, Indonusa Esa Unggul University,
Jakarta, 2005
Educational Background
• Bachelor of Economics, Bachelor of Accounting, YAI College of Economics, Jakarta,
1995
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Governance
• Vice President Wholesale Risk Solution, PT Bank Mandiri (Persero) Tbk, Jakarta 2022 to
March 2023.
• Vice President Risk Management, PT Bank Mandiri (Persero) Tbk, Jakarta, 2017 to 2022.
• Regional Chief Executive Officer (CEO), Regional II PT Bank Syariah Mandiri, Palembang,
2015 to 2017.
• Authority Holder of financing decision, credit risk taking unit level RCEO, PT Bank
Work Experience
Syariah Mandiri, Palembang, 2015 to 2017.
• Vice President Consumer Loan, PT Bank Mandiri (Persero) Tbk, Jakarta, 2014 to 2015.
• Vice President Audit Manager Retail, Product and Distribution IV Audit, PT Bank
Mandiri (Persero) Tbk, Surabaya, 2012 to 2014
• Vice President Department Head Operation, Personnel & Counterpart Relation Audit
Group, PT Bank Mandiri (Persero) Tbk, Jakarta, 2011 to 2012
In the Company: None
Concurrent Position
Outside the Company: None
Independence of the Audit Committee
All members of the Audit Committee are professional individuals with no relationship to the Company in order to
maintain independence in carrying out their duties and responsibilities. The Company’s Audit Committee has met the
criteria of independence, expertise, experience, and integrity. The transparency of the Audit Committee’s independence
can be seen in the following table:
Fendy Eventius Marlan Marthias
Independence Aspect Indra Riyawan
Mugni Achmad
Has Financial Relations with the Board of Commissioners and
X X X
Board of Directors
Has Management Relations within the Company or Affiliate
X X X
Companies
Shareholder of the company X X X
Has Family Relations with the members of Board of
Commissioners and Board of Directors and fellow members of X X X
the Committee
Has Financial Relations with the Board of Commissioners and
X X X
Board of Directors
Ket: V = Exist | X = Not exist
Audit Committee Charter out its duties, the Audit Committee adheres to the
The Audit Committee Charter is prepared in accordance professional code of ethics, both related to the expertise
with Financial Services Authority Regulation No. of each Audit Committee member and the Audit
55/POJK.04/2015 regarding the Establishment and Committee’s professional code of ethics..
Guidelines for the Implementation of Audit Committees.
The Company has formulated the Audit Committee In carrying out its duties, the Company’s Audit
Charter as a working guideline, which was ratified on Committee adheres strictly to the professional code of
July 30, 2020, and has been revised on December 1, 2023. ethics, both related to the expertise of each member of
The Audit Committee Charter outlines the position, the Audit Committee, as well as the Audit Committee’s
membership, duties, responsibilities, and obligations of professional code of ethics.
the Audit Committee, as well as governing the working
relationship between the Audit Committee and the The Audit Committee’s Duties and
Board of Commissioners, Board of Directors, Internal Responsibilities
Auditor, and External Auditor. The duties and responsibilities of the Audit Committee
are outlined in the Audit Committee Charter, which
Conflicts and Code of Ethics serves as a guideline and code of conduct for Audit
To prevent conflicts of interest, the Audit Committee Committee members in carrying out their duties and
adheres to the principles of good corporate governance, responsibilities in a professional and independent
namely transparency, accountability, responsibility, manner. They include:
independence, and fairness. Meanwhile, in carrying
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1. Reviewing the financial information to be released risks faced by the company and the implementation
by the Company to the public and/or authorities, of risk management by the Board of Directors.
such as financial statements, projections, and other 6. Carry out the duties assigned by the Board of
financial information. Commissioners as long as they are within the scope
2. Reviewing the implementation of audits by internal of the Audit Committee’s duties and responsibilities.
and external auditors. 7. Maintain the confidentiality of company documents,
3. Reviewing the Company’s compliance with relevant data and information and only use them for the
laws and regulations. duties’ implementation purposes..
4. Providing independent opinions in case of
disagreement between management and the The Audit Committee’s Authority
external auditor regarding the services provided. In addition to duties and responsibilities, the Audit
5. Recommending to the Board of Commissioners Committee is given special authority to support the
the appointment of external auditors based on implementation of work in accordance with the Audit
independence, scope of work, and fees. Committee Charter. This authority includes:
6. Recommending improvements to the company’s 1. Members of the Audit Committee are obliged
internal control system and its implementation. to recognize and understand their roles and
7. Reviewing complaints related to the company’s responsibilities in accordance with the Audit
accounting processes and financial reporting. Committee Charter, which is the Audit Committee
8. Reviewing and providing advice to the Board of Work Guidelines.
Commissioners regarding potential conflicts of 2. The Audit Committee accepts authority and
interest within the Company. assignments from the Board of Commissioners with
9. Maintaining confidentiality of documents, data, and due observance of regulations related to the capital
company information, and using them only for the market.
purpose of fulfilling their duties. 3. In carrying out its duties, the Audit Committee
has the authority to access records or information
In carrying out its functions, the Audit Committee about employees, funds, assets and other company
performs duties related to the Board of Commissioners’ resources related to the implementation of their
duties, including: duties.
1. Reviewing the financial information to be issued by 4. The Audit Committee, based on an assignment letter
the ompany, such as financial reports, projections from the commissioner, has the right of access
and other financial information. to information in the company from the Board of
2. Reviewing the implementation of audit by internal Directors, internal audit and all organizational units
and external audits. of the company when there are cases/indications
3. Reviewing the company’s compliance with laws and of violations, which requires the audit committee to
regulations related to the company’s activities. investigate or clarify these cases.
4. Provide recommendations regarding the 5. The Audit Committee, with the approval of the
improvement of the company’s internal control commissioners, may seek advice and assistance from
system and its implementation. experts and other professionals at the expense of
5. Report to the Board of Commissioners on various the Company.
Division of Duties and Responsibilities
The Scope of duties of each Audit Committee Member is as follows:
Name Position Duties Description
• Reviewing the Company’s compliance with the laws and regulations
Chairman of Audit
related to the Company’s activities.
Committee/
Fendy Eventius Mugni • Reporting to the Board of Commissioners various risks faced by the
Independent
Company and the implementation of risk management by the Board of
Commissioner
Directors.
• Reviewing financial information that will be issued by the Company
Audit Committee such as financial statements, projections and other financial
Indra Riyawan
Member information.
• Reviewing the implementation of internal and external audits.
• Maintaining the confidentiality of the Company’s documents, data and
Audit Committee information that are only used for the duties implementation purposes.
Marlan Marthias Achmad
Membe • Providing recommendations regarding improvements to the Company’s
internal control system and its implementation.
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Governance
Work Relations of Audit Committee external regulation of the Company, code of conduct
In implementing its duties and responsibilities, the Audit and conflict of interests.
Committee communicates with the external auditors, 4. Ensuring that the Company management follow up
internal auditors, and management of the Company. the recommendation from the internal audit and the
The role of the Audit Committee concerning the external external audit.
auditors is as follows: 5. Identifying and monitoring problems that requires
1. Reviewing the work of external auditor. the Board of Commissioners’ attention.
2. Discussing audit result with external auditor. 6. Inviting the Company’s management to attend the
3. Audit Committee may discuss the audit result with Audit Committee meeting if necessary.
the management, external and internal auditor if
necessary. Audit Committee Report
4. Reviewing the performance of the external auditor In conducting its work, the Audit Committee is required to
to ensure the compliance of external auditor to the submit a written report to the Board of Commissioners on
prevailing professional standard, including external the findings regarding the obstacles encountered by the
auditor independence. Company. The report referred to in terms of:
1. Audit Committee prepares the report of every special
The role of the Audit Committee in relation to the assignment given by the Board of Commissioners.
internal auditor is as follows: 2. In the event that the Audit Committee discovers
1. Receiving and reviewing the report of the internal material issues that are expected to disrupt the
auditor. activities of the Company, it will report them to the
2. Monitoring the follow up of the result of the internal Board of Commissioners.
audit. 3. Audit Committee prepares the Annual Report of the
3. Requesting internal auditor for special/certain implementation of Audit Committee activities to the
4. investigation with the approval from the Board of Board of Commissioners.
Commissioners.
5. Providing feedback regarding the content of Internal Remuneration Policy
Audit Charter. The remuneration policy of the Audit Committee is
6. Coordinating with the internal auditor and the based on the policy of PT Bank Mandiri (Persero) Tbk as
external auditor to achieve a comprehensive and the Company’s majority/ controlling shareholder.
optimum audit result.
7. Reviewing the report of internal audit related to the Audit Committee Competency Development
conflict of interests, and/or the violation of law. The company includes members of the Audit Committee
in educational and/or training programs with the aim of
Meanwhile, the role of Audit Committee in relation to the enhancing the skills and competencies of each member,
Company Management is as follows: thereby contributing positively to productivity and the
1. Evaluating the adequacy of the disclosure of effectiveness of their performance.
materials in the financial statement of the Company.
2. Assessing the adequacy of the internal control and Throughout the year 2023, the Company’s Audit
the Company’s risk management policy. Committee has participated in competency development
3. Assessing the Company’s policy related to the programs as follows:
compliance towards the prevailing internal or
Participants Type/Material of Training Organizer Time & Place
Internal Briefing of Commissioner MTF Jakarta, August 24, 2023
Fendy Eventius Mugni Certification of Basic Financing for SPPI Jakarta, August 20, 2023
Commissioners
Indra Riyawan - - -
National Audit Committee Conference 2023
Marlan Marthias Achmad "Upholding Sustainability and Growth of the IKAI Jakarta, October 10, 2023
Company Through Risk Oversight and Control"
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Audit Committee Meetings
The Audit Committee holds periodic meetings with the internal members, the Board of Commissioners, and the Board
of Directors. The meetings held by the Audit Committee are as follows:
1. Quarterly Audit Committee Meeting is held 4 (four) times per year with pre-determined schedule and focused on
the discussion of Financial Statement (Balance Sheet and Profit and Loss) and the Quarterly Performance of the
Company.
2. Monthly Audit Committee Meeting is held once every month, with the agenda agreed upon. The monthly meeting
is not held in the month where the quarterly meeting is. The monthly meeting focuseddon the discussion of the
result of General Internal Audit.
3. Chairman of the Audit Committee may invite the Board of Commissioners, the Board of Directors, Internal Auditor,
External Auditor, Shareholders Representative, and other parties required to be present at the meeting.
4. The result of the Audit Committee meeting is outlined in the meeting minutes, signed by all Audit Committee
members present, and distributed to all meeting participants for their attention and follow-up.
5. The Audit Committee may attend the meeting of the Board of Commissioners or joint meeting of the Board of
Directors and the Board of Commissioners if necessary.
In 2023, the Audit Committee held 4 (four) meetings, with minutes and Attendance Recapitulation as follows:
Frequency of Attendance
Number of Mandatory Number of
Name Position Percentage
Meetings Attendance
Fendy Eventius Mugni Chairman 1 1 100%
Ravik Karsidi* Chairman 3 3 100%
Indra Riyawan Member 4 4 100%
Allen Situngkir** Member 3 3 100%
Marlan Marthias Achmad Member 1 1 100%
*) dismissed at the GMS on June 27, 2023
**) dismissed based on KEP.KOM/006/2023 concerning the end of the term of office of members of the Audit Committee on September 15, 2023
Minutes of Audit Committee Meetings and Attendance
Meeting
No. Date Agenda Note
Participant
Discussion on the SKAIT MTF Annual Audit Plan for 2023 Ravik Karsidi,
1 January 24, 2023 Report on the Special Audit Results for Sukabumi Branch & Palu Indra Riyawan, -
Branch Allen Situngkir
Ravik Karsidi,
Follow-up on the Investigation Results of the Joint Audit Team of
2 March 24, 2023 Indra Riyawan, -
Bank Mandiri & MTF
Allen Situngkir
General Audit Results Report
Human Capital, Ravik Karsidi,
3 June 27, 2023 Indra Riyawan, -
Management of SPRINT Allen Situngkir
Management of Channeling Financial Technology Financing
Discussion on MTF's Audit Committee Charter and Audit Charter Change in 2
Fendy E. Mugni
Audit
4 September 21, 2023 Indra Riyawan,
Report on the Special Audit Results for Branch Bandung 1 Committee
Marlan M. Achmad
Member
Summary Report on the Implementation of Duties 1. Review of the internal control system
and Activities of the Audit Committee in 2023 Conduct a review of the design and implementation
To comply with the corporate governance guidelines of the Company’s internal control system, considering
within the Company, the work program assigned as the the adequacy of controls and the availability of
duties and responsibilities of the Audit Committee in internal provisions, one of which is through the
2023 are as follows: Internal Audit Results Report. The results of this
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Good Corporate
Governance
review serve as input to the Board of Commissioners 4. Review of Public Financial Statement Presentation
to provide guidance to management in developing The Audit Committee periodically reviews financial
and implementing internal control systems and statements before publication to assess the
conducting Company operations effectively reasonableness of the figures presented.
and efficiently while complying with regulatory
requirements. 5. Realization of Audit Committee Meetings in 2023
The Audit Committee held 4 (four) meetings in 2023,
2. Review of the Internal Audit Function with agenda items detailed in the Meeting Minutes
The Audit Committee has conducted a review and and Attendance of the Audit Committee above.
assessment process of the role and implementation
of the Internal Audit function in evaluating the Nomination and Remuneration Committee
design and implementation of the internal control With reference to the regulations or provisions of Law
system, risk management, and corporate governance No. 40 of 2007 concerning Limited Liability Companies,
processes. The review process of the internal audit the Board of Commissioners forms the Nomination &
function begins with the preparation of the Annual Remuneration Committee tasked with assisting the
Audit Plan (AAP) for the internal audit of 2023, which oversight of the Board of Commissioners in carrying
is presented at the Audit Committee meetings. The out the functions of nomination and remuneration, as
internal audit work plan is prepared based on 9 well as overseeing and assessing the effectiveness of
Key Inputs and considers recommendations from nomination and remuneration.
Regulators, the Board of Commissioners, Directors,
and Management for areas to be audited. The 2023 The Nomination & Remuneration Committee ensures
work plan includes 29 (twenty-nine) subjects for that the nomination and remuneration process for
general, mandatory, and consulting audits that must the Company’s management and other implementing
be examined, where activities are embedded in organs is transparent and accountable in accordance
business unit workflows and the implementation of with the development of the Company’s business,
systems/applications. ultimately increasing the trust of shareholders and
other stakeholders in the Company’s management.
In addition to the work plan preparation process, the
Audit Committee also reviews the implementation The inception of the Nomination and Remuneration
of audits. The Audit Committee has executed all Committee is in accordance with the FSA Regulation
activities planned for 2023, including: No. 34/POJK.04/2014 regarding the Nomination
• Providing recommendations and Approval of the and Remuneration Committee of Issuers or Public
2023 Audit Plan to the Board of Commissioners. Companies.
• Identifying weaknesses found from audit
results and promptly communicating them to Criteria for Members of the Nomination and
management for immediate follow-up. Remuneration Committee
• Monitoring the follow-up of audit results to Members of the Nomination and Remuneration
provide added value to the Company’s objectives. Committee must satisfy the following requirements for
• Providing recommendations to the Board of capability and experience, as well as independence:
Commissioners on the Appointment Process for 1. Hold a high level of integrity, objectivity, and ethics.
the Public Accounting Firm for the 2023 Financial 2. Possess adequate knowledge of applicable rules,
Statement Audit. regulations, and laws.
• Evaluating the performance of the Public 3. At least one of the committee members must have
Accounting Firm auditing the 2022 Financial educational background or work experience in
Statements for the Board of Commissioners. employee’s nomination and remuneration, or Human
Resource Development fields.
3. Oversight of External Audit Implementation 4. Capable of acting independently, which means
The Audit Committee oversees the implementation being able to carry out duties professionally without
of the External Audit by evaluating the process of conflict of interest or influence/pressure from any
selecting the Public Accounting Firm tasked with party.
auditing the annual financial statements, supervising 5. Willingness to continuously increase competency
and reviewing the audit process, and reviewing the through education and training.
results of the financial statement audit. The Company’s 6. Not an employee of a Legal Consulting Firm, Human
Financial Statements for the year ended December 31, Resources Consulting Office, Business Development
2023, were audited by Purwantono, Sungkoro & Surja Consulting Office, or other party that has provided
Public Accountants (a member of EY Global Limited). assurance, non-assurance, and/or other consulting
200 2023 Annual Report | PT Mandiri Tunas Finance
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services to the Company within 6 (six) months responsibilities properly, in the opinion of the Chair of
preceding the appointment as a committee member the Committee concerned.
by the Board of Commissioners.
Structure and Composition of the Nomination
Term of Office and Remuneration Committee for 2023
Committee members are appointed for a certain term The Company established a Nomination and
of office and can be reappointed. The term of office for Remuneration Committee in accordance with the
a member of the Board of Commissioners who is also Decree of the Company’s Board of Commissioners No.
a member of the Committee is the same as the term Kep.Kom/01/2014 concerning the Establishment and
of office set by the Company’s Articles of Association Appointment of the Nomination and Remuneration
or the General Meeting of Shareholders for his or her Committee of PT Mandiri Tunas Finance dated November
appointment as a member of the Board of Commissioners. 26, 2014, as amended by Decree of the Company’s Board of
The term of office of Committee members who are not Commissioners No.KEP.KOM/02/II/2020, dated February
Board of Commissioners members may not be longer 17, 2020, concerning changes to the membership of the
than the term of the Board of Commissioners. The Nomination and Remuneration Committee.
Board of Commissioners may terminate at any time a
member of the Committee who is not a member of the Structure of the Nomination & Remuneration Committee
Board of Commissioners if they do not carry out their as of 31 December 2023, are as follows:
Name Position Basis of Appointment Term of Office Tenure
Chairman of the Following the
Decision of the Board of Commissioners
Audit Committee/ term of office
Fendy Eventius Mugni No. KEP. KOM/006/2023 dated December 1st
Independent as Independent
11, 2023
Commissioner Commissioner
Decision of the Board of Commissioners Following the
Member/
Totok Priyambodo No. KEP. KOM/006/2023 dated December term of office as 2nd
Commissioner
11, 2023 Commissioner
December 12,
Member/Head of Surat Keputusan Dewan Komisaris No. KEP. 2023 -
Makah Indra Purnomo 2nd
Division KOM/006/2023 tanggal 11 Desember 2023 December 12,
2026
Nomination & Remuneration Committee Member Profiles
The profiles of Fendy Eventius Mugni and Totok Priambodo as the Chairman and member of the Nomination and
Remuneration Committee can be found in the Board of Commissioners’ profile section in the Company Profile chapter
of this Annual Report. The profiles of non-Commissioner Committee members from independent parties are also
presented below.
Name Makah Indra Purnomo
Position Member of the Nomination & Remuneration Committee
Decree of the Board of Commissioners No. KEP. KOM/006/2023 dated December 11, 2023 on
Basis of Appointment
the Determination of Nomination & Remuneration Committee Members.
Term of Office December 12, 2023 - December 12, 2026.
Tenure 2nd
Age 43
2023 Annual Report | PT Mandiri Tunas Finance 201
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Good Corporate
Governance
Nationality Indonesian
Domicile Tegal
Educational Background Bachelor (S1) in Electrical Engineering, Sultan Agung University (2004)
Work Experience Branch Head of PT NSS + NSS Finance for the period 2004 to 2010
Inside the company: None
Concurrent Position
Outside the company: None
Independence of the Nomination & 5. Not a person who has had the authority and
Remuneration Committee responsibility to plan, lead, or control the Company
All members of the Nomination & Remuneration within 1 (one) year prior to the appointment by
Committee are professional individuals and have the Board of Commissioners, with the exception of
no relationship with the Company in order to Committee Members who come from the Board of
maintain independence in carrying out their duties Commissioners.
and responsibilities. The Company’s Nomination
and Remuneration Committee met the criteria of Except for Ravik Karsidi, who was appointed by the
independence, expertise, experience, and integrity. The Shareholders as an Independent Commissioner
Nomination & Remuneration Committee is not affiliated and serves as Chairman of the Nomination and
with the Board of Directors, the Board of Commissioners, Remuneration Committee, the Company’s Nomination
or the shareholders. In carrying out its functions, the and Remuneration Committee has no independent
Nomination & Remuneration Committee is bound by members from outside the Company. All members
the provisions/laws and legislation that govern the of the Nomination & Remuneration Committee are
Company. professionals who were chosen in accordance with FSA
regulations.
Members of the Company’s Nomination & Remuneration
Committee, particularly those from independent parties, The Nomination and Remuneration
must meet the following independence criteria to act Committee’s Charter
independently: In order to facilitate the implementation of its functions
1. Does not directly or indirectly hold any of the and roles, the Company’s Nomination & Remuneration
Company’s shares. In the event that a Committee Committee was given a charter on August 23, 2022. The
Member gets shares as a result of a legal event, they Work Guidelines of the Nomination and Remuneration
must transfer the shares to another party within 6 Committee regulate several aspects of:
(six) months after the receipt of the shares. 1. Duties and Responsibilities of the Committee
2. Has no family relation with the Company’s Board 2. Authority of the Committee
of Commissioners, Board of Directors, or Major/ 3. Committee Meetings
Controlling Shareholders, both horizontally and 4. Committee Organization
vertically, due to marriage and heredity to the second
degree. The Nomination and Remuneration Committee’s Charter
3. Does not directly or indirectly has business relation is reviewed on a regular basis to ensure that the scope of
with the Company, and does not accept compensation the guidelines is always in line with the needs and other
from the Company or its subsidiaries other than legislation related to the Company’s business.
compensation for services rendered in conjunction
with Committee Member duties. The Nomination and Remuneration
4. Not an employee of a Public Accounting Firm, Legal Committee’s Duties and Responsibilities
Consulting Firm, or other parties who provided
audit, non-audit, or other consulting services to The Duties and Responsibilities Associated with the
the Company within 6 (six) months prior to the Remuneration Function
appointment by the Board of Commissioners. 1. Evaluate the Company’s remuneration policies,
including Salary, Honorarium, Religious Holiday
Allowance (THR), Benefits (medical, health,
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loan facility, and others), Bonuses/Incentives The Nomination & Remuneration Committee
(for employees), and Tantiem (for the Board of Functions
Commissioners and the Board of Directors) The Nomination & Remuneration Committee has the
2. Provide recommendations to the Board of following functions:
Commissioners on the remuneration policy for 1. Develop, implement, and analyze the nomination
Board of Directors and/or Board of Commissioners criteria and procedures for candidates for the Board
members to be submitted to the GMS, as well as of Directors and the Board of Commissioners, as
the remuneration policy for Executive officers and well as the procedures for terminating the Board of
employees as a whole to be submitted to the Board Directors and the Board of Commissioners.
of Directors 2. Identify candidates for the Board of Directors and
3. Ensuring that the Company’s remuneration policy the Board of Commissioners from inside and outside
is consistent with financial performance and the company who meet the qualifications to be
reserve fulfillment in accordance with applicable proposed/appointed as member of the Board of
rules/regulations, evaluation of individual work Directors or the Board of Commissioners.
performance, fairness of peer groups within and 3. Develop criteria for assessing the Board of Directors’
outside the Company, and the Company’s long-term performance.
development strategy. 4. Propose an appropriate remuneration system for the
Board of Directors and the Board of Commissioners,
The Duties and Responsibilities Associated with the including a payroll system, facilities and benefits,
Nomination Function options, and a pension system.
1. Provide recommendations to the Board of 5. Ensuring the implementation of the Company’s
Commissioners on the composition of position for compliance with provisions and/or regulations of
Board of Directors and/or Board of Commissioners the FSA, Ministry of Manpower, and other related
members. regulations, including matters that become decisions
2. Provide policy and criteria recommendations to of the Company’s GMS.
the Board of Commissioners on the nomination of 6. Support the professional human resource
members of the Board of Directors and/or the Board development activities.
of Commissioners.
3. Provide recommendations to the Board of The Authority of the Nomination & Remuneration
Commissioners on prospective Board of Directors and/ Committee
or Board of Commissioners members’ names. The authority of the Nomination & Remuneration
4. Review and propose a succession plan for members Committee are as follows:
of the Board of Directors and/or the Board of 1. The Committee has access to records or information
Commissioners. regarding the Company’s employees related to the
5. Conduct an assessment based on benchmarks implementation of the Committee’s duties.
developed as material for performance evaluation and 2. In carrying out the authority outlined in point 1
capacity building material for the Board of Directors above, the Committee collaborates closely with
and/or Board of Commissioners. partners such as the Secretary to the Board of
6. Provide recommendations to the Board of Commissioners, Supporting Committees to the Board
Commissioners on performance evaluation policies of Commissioners, related management teams,
for Board of Directors and/or Board of Commissioners particularly the Human Resources Development
members. Division, and other related Company work units. (if
7. Provide recommendations for independent parties needed)
to join the Committee supporting the Board of 3. The Committee has the authority to communicate
Commissioners. directly with employees, including the Board of
8. Recommended approval for organizational structure Directors, and parties involved in the Committee’s
changes up to one level below the Board of Directors. duties’ implementation.
4. If necessary, the Committee may enlist the assistance
The Nomination and Remuneration of experts and/or consultants/independent parties
Committee’s Functions and Authorities from outside the Committee, or form an ad hoc team
In carrying out its work, the Nomination and to assist them in carrying out their duties at the
Remuneration Committee is bound by the functions and expense of the Company.
authority granted by the provisions of the Nomination 5. The Committee implements other authorities
and Remuneration Committee charter. delegated by the Board of Commissioners.
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Good Corporate
Governance
Allocation of Duties and Responsibilities in Nomination and Remuneration Committee
Membership
The scope of duties of each Member of the Nomination and Remuneration Committee are as follow:
Name Position Duties Description
• Evaluating the Company’s remuneration policies, such as salary, honorarium,
holiday allowance (THR), benefits (medical, health, loan facility, and others),
Chairman of bonuses/incentives (for employees), and Tantiem (for the Board of Commissioners
the and Directors).
Fendy Eventius
Nomination & • Provide recommendations to the Board of Commissioners on performance
Mugni
Remuneration evaluation policies for Board of Directors and/or Board of Commissioners members.
Committee • Provide policy and criteria recommendations to the Board of Commissioners on
the nomination of members of the Board of Directors and/or the Board of
Commissioners.
• Ensuring that the Company’s remuneration policy is consistent with the Company’s
financial performance and fulfillment of reserve according to the applicable rules/
Member of the regulations, evaluation of individual work performance, fairness of peer groups within
Nomination & and outside the Company, and the Company’s long-term development strategy.
Totok Priyambodo
Remuneration • Review and propose a succession plan for members of the Board of Directors and/or
Committee the Board of Commissioners.
• Provide recommendations for independent parties who will serve on the Board of
Commissioners’ supporting committees.
• Provide recommendations to the Board of Commissioners on the remuneration
policy for Board of Directors and/or Board of Commissioners members to be
Member of the submitted to the GMS, as well as the overall remuneration policy for Executive
Makah Indra Nomination & officers and employees to be submitted to the Board of Directors.
Purnomo Remuneration • Provide recommendations to the Board of Commissioners on the composition of
Committee position on the Board of Directors and/or the Board of Commissioners.
• Recommended the approval of changes to the organizational structure up to one
level below the Board of Directors.
Nomination & Remuneration Committee Competency Development
The Company facilitates the implementation of development programs for the Nomination & Remuneration Committee
in order to improve the competency of the members of the Nomination & Remuneration Committee. This program
is expected to positively impact the productivity and effectiveness of the Nomination & Remuneration Committee’s
performance.
The Company Profile chapter in this annual report contains information on the competency development initiatives
that Members of the Nomination & Remuneration Committee participated in 2023.
Nomination & Remuneration Committee Meeting
Following the Nomination & Remuneration Committee’s Work Guidelines, the Nomination & Remuneration Committee
hold a meeting at least once a year. Deliberation and consensus are used to make decisions in meetings arranged by
the Nomination and Remuneration Committee, and voting is used if there is no consensus. Meanwhile, the Committee
meeting’s results must be documented in minutes signed by all members present and properly documented by the
Committee Secretary. Dissenting opinions in Committee decision-making must be explicitly stated in the meeting
minutes and the reasons for the dissent.
The Nomination & Remuneration Committee held 3 (three) meetings in 2023, with the following minutes and attendance
recapitulation:
Recapitulation of Nomination & Remuneration Committee Attendance
Number of Mandatory Number of
Name Position Percentage
Meetings Attendance
Fendy Eventius Mugni Chairman 2 2 100%
Totok Priyambodo Member 3 3 100%
Makah Indra Purnomo Member 3 3 100%
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Meeting Agenda
No. Date Agenda Meeting Participant Note
Proposal for Honorarium for Board of Directors and
Board of Commissioners Year 2023
1. Totok Priyambodo
1 March 24, 2023 Proposal for Performance-Based Bonus for the Board -
2. Makah Indra Purnomo
of Directors and Board of Commissioners of MTF for the
achievement in the year 2022.
Follow-up on the transfer of duties from the previous 1. Totok Priyambodo
2 August 3. 2023 independent Commissioner to the newly appointed 2. Fendy Eventius Mugni -
Commissioner. 3. Makah Indra Purnomo
1. Totok Priyambodo
Discussion regarding Health Insurance and Employee
3 October 18, 2023 2. Fendy Eventius Mugni -
Benefits.
3. Makah Indra Purnomo
Remuneration Policy 6. FSA Regulation No. 28/PJOK.05/2020 on Non-Bank
The Nomination & Remuneration Committee’s Financial Services Institutions’ Soundness Level.
Remuneration Policy is consistent with that of PT
Bank Mandiri (Persero) Tbk, the Company’s Majority/ Criteria for Members of the Risk Monitoring
Controlling Shareholder. Committee
Committee members must meet a variety of qualifications
Summary Report on the Implementation of and standards, according to the Risk Monitoring Committee
Duties and Activities of the Nomination & Charter. Apart from independence, members of the Risk
Remuneration Committee in the Year 2023 Monitoring Committee must also have, among other things,
In the year 2023, the remuneration committee held a the integrity and expertise of the Company’s businesses.
total of 3 (three) meetings to discuss the evaluation of The following are the membership requirements for the
the Company’s remuneration policies, including Salary, Risk Monitoring Committee:
Honorarium, Benefits (medical, health, loan facility, and 1. Committee members must have high integrity, ability,
others), Bonuses (for the Board of Commissioners and and experience in their field of work, as well as be
Board of Directors), as well as discussions regarding able to communicate effectively.
the latest remuneration for Directors, commissioners, 2. At least one member of the Risk Monitoring Committee
employee health insurance, and other benefits. must have a risk management background.
3. Understand the Company’s business, particularly
Risk Monitoring Committee risk management and laws and regulations related
In order to assist in the implementation of duties, the to financing business.
Board of Commissioners establishes a Risk Monitoring 4. Have sufficient knowledge to read and comprehend
Committee to oversee the implementation of the financial reports as well as reports pertaining
Company’s management that has been prepared by to the monitoring of the implementation of risk
the Board of Directors. The Risk Monitoring Committee management policies in financial companies.
was formed in accordance with numerous applicable 5. Willingness to continuously increase competency
regulations, including: through education and training.
1. FSA Regulation No. 10/POJK.05/2014 concerning 6. Not a member of the Board of Directors and
Non-Bank Financial Services Institutions Risk Level possesses integrity and knowledge of the business
Assessment. run by the Company.
2. FSA Circular No. 4/SEOJK.05/2015 concerning the Risk
Assessment of Financing Companies. Term of Office
3. FSA Circular No. 1/SEOJK.05/2016 concerning the Committee members are appointed for a specific term
Assessment of Financing Companies’ Financial of office, as stipulated in the Decree of the Board of
Soundness Level. Commissioners No. KEP. KOM/008/2020, dated August
4. FSA Circular No. 10/SEOJK.05/2016 concerning 31, 2020, concerning the Establishment and Appointment
Risk Management Guidelines and Reports on the of the Risk Monitoring Committee, which states that the
Results of Self-Assessment of Risk Management term of office of committee members may not be longer
Implementation for Non-Bank Financial Services than the term of office of the Board of Commissioners
Institutions. as stipulated in the articles of association, without
5. FSA Regulation No. 44/POJK.05/2020 on Risk prejudice to the right of the Board of Commissioners to
Management Implementation for Non-Bank Financial terminate at any time.
Services Institutions.
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Good Corporate
Governance
Structure and Composition of Risk Monitoring Committee Members 2023
In 2023, the membership composition of the Risk Monitoring Committee are as follows:
Name Position Basis of Appointment Term of office Tenure
Chairman of the Risk Board of Commissioners Decision
Monitoring Letter No. BOC/007/2023 dated Following his term of
Fendy Eventius Mugni Committee/ December 12, 2023 regarding the office as Independent 1st
Independent Appointment of the Risk Monitoring Commissioner
Commissioner Committee
Decree of the Board of Commissioners
No. KEP. KOM/002/2023 on the Following his term of
Member/
Totok Priyambodo Appointment of Risk Monitoring office as 1st
Commissioner
Committee Members dated January 2, Commissioner
2023
Decree of the Board of Commissioners
No. KEP. KOM/007/2024 dated
Member/Independent December 12, 2023
Irwan Tri Nugroho December 12, 2023 on the 2nd
Party – December 12, 2026
Appointment of Risk Monitoring
Committee Members
Decree of the Board of Commissioners
Member/Independent No. KEP. KOM/008/2020 dated August August 31, 2020 –
Indra Riyawan 2nd
Party 31, 2020 on the Change of Risk August 31, 2023
Monitoring Committee Members
Profiles of Risk Monitoring Committee Members
Profiles of Fendy Eventius Mugni and Totok Priyambodo as the chairperson and member of the Risk Monitoring
Committee can be found in the Board of Commissioners’ profile section in the Company Profile chapter of this Annual
Report. For the profile of Indra Riyawan as a member of the Committee, it is also available in the Audit Committee Profile
subsection. Below are the profiles of non-Commissioner independent members of the Risk Monitoring Committee.
Name Irwan Tri Nugroho
Position Member of Risk Monitoring Committee
Decree of the Board of Commissioners No. KEP. OM/007/2024 dated December 12, 2023, concerning
Basis of Appointment
Changes in Risk Monitoring Committee Members
Term of office December 12, 2023 – December 12, 2026
Tenure 2nd
Age 39 years old
Nationality Indonesia
Domicile Bantul
• Doctorate in Banking and Finance from the University of Limoges, France (2014).
Educational Background • Masters in Financial Management from Gadjah Mada University (2009).
• Bachelor's degree in Management from UNS (2006).
• Teaching staff in financial management at the Faculty of Economics and Business, Sebelas
Maret University (UNS).
Work Experience • Visiting lecturer and researcher at various universities both at home and abroad, Vice
President for Programs and International Cooperation at the Indonesian Finance
Association (IFA).
Inside the company: None
Concurrent Position
Outside the company: None
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Independence of the Risk Monitoring 2. Do not have family relationships, either through
Committee marriage or descent up to the second degree,
The members of the Risk Monitoring Committee are both horizontally and vertically, with the Board
professionals who do not have any affiliations with the of Commissioners, Board of Directors, or Major/
Company to maintain independence in the execution Controlling Shareholders of the Company.
of their duties and responsibilities. The Company’s 3. Do not have any business relationships, either
established Risk Monitoring Committee meets the criteria directly or indirectly, related to the Company’s
for independence, expertise, experience, and integrity. business, including not receiving compensation from
the Company and its subsidiaries, except for service
To act independently, members of the Company’s fees related to their duties as Committee Members.
Risk Monitoring Committee, especially those from 4. Not an employee of a Public Accounting Firm, Law
independent parties, are required to meet the following Consultancy Firm, or other parties providing audit,
independence criteria: non-audit, and/or other consulting services to the
1. Do not own shares in the Company, either directly Company within the last 6 (six) months before being
or indirectly. In the event that a Committee Member appointed by the Board of Commissioners.
acquires shares due to a legal event, they must divest 5. Not a person with the authority and responsibility
them to another party within a maximum period of 6 to plan, lead, or control the Company within the last
(six) months after obtaining the shares. 1 (one) year before being appointed by the Board of
Commissioners, except for Committee members who
originate from the Board of Commissioners
The transparency of the independence of the Risk Monitoring Committee is evident in the following table:
Fendy
Totok Irwan Tri Indra
Independent Aspect Eventius
Priyambodo Nugroho Riyawan
Mugni
Owns shares in the Company, either directly or indirectly. X X X X
Has a family relationship with the Board of Commissioners,
X X X X
Board of Directors, or Major/Controlling Shareholders.
Has a business relationship, either directly or indirectly, related
X X X X
to the Company's business.
Is a person who has provided audit, non-audit, or other
X X X X
consulting services to the Company in the last six months.
Is a person with the authority and responsibility to plan, lead,
X X X X
or control the activities of the Company.
Charter of the Risk Monitoring Committee The committee can engage necessary independent
The Charter of the Risk Monitoring Committee was drafted parties and exercise other powers delegated by the
and approved by the Board of Commissioners in Jakarta Board of Commissioners, enabling them to carry out
on August 23, 2022. The charter regulates the position, their responsibilities. These responsibilities include:
membership, authority, duties, and responsibilities of 1. Directing policies, strategies, and the risk
the Risk Monitoring Committee, and provides limitations management framework in line with risk appetite
while organizing the working relationship between the and tolerance.
Risk Monitoring Committee and other committees under 2. Reviewing the alignment between the Company’s
the Board of Commissioners. risk management policies and their implementation.
3. Monitoring the performance of the Risk Management
Authority and Duties of the Risk Monitoring unit.
Committee 4. Reviewing risk profile reports and/or risk levels.
The Risk Monitoring Committee has the authority 5. Reviewing reports on the Company’s financial health.
to access the company’s documents, data, and 6. Monitoring the adequacy of risk management
information, communicate directly with employees, processes, identification, measurement, monitoring,
including the Board of Directors and those responsible control, and information systems.
for internal audit functions and risk management.
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Good Corporate
Governance
Delegation of Duties and Responsibilities
The scope of duties for each member of the Risk Monitoring Committee is formulated based on OJK Regulation No.
28/POJK.05/2022 Regarding the Assessment of the Health Level of Non-Bank Financial Institutions, OJK Regulation
No. 44/POJK.05/2020 on the Implementation of Risk Management for Non-Bank Financial Institution Risk Monitoring
Committees, and the Risk Monitoring Committee Charter established on August 23, 2022, as follows:
Name Position Job Description
Head of the Risk Directing policies, strategies, and the risk management framework in
Fendy Eventius Mugni
Monitoring Committee accordance with the risk appetite and risk tolerance.
Member of the Risk
Totok Priyambodo Monitoring the implementation of tasks in the Risk Management unit.
Monitoring Committee
• Conducting a review of the financial health report of the Company.
Member of the Risk
Irwan Tri Nugroho • Reviewing the alignment between the Company's risk management
Monitoring Committee
policy and its implementation.
• Conducting a review of risk profile reports and/or risk levels.
Member of the Risk
Indra Riyawan • Monitoring the adequacy of the process of risk identification, measurement,
Monitoring Committee
monitoring, control, and risk management information systems.
Development of Competencies for the Risk Monitoring Committee
The Company facilitates the implementation of a development program for the Risk Monitoring Committee to
enhance the competencies of its members. This program is expected to have a positive impact on the productivity
and effectiveness of the Risk Monitoring Committee’s performance. Complete information about the competency
improvement activities attended by the members of the Risk Monitoring Committee throughout the year 2023 can be
found in the Company Profile section of this annual report.
The Risk Monitoring Committee Meeting
The Risk Monitoring Committee holds quarterly meetings conducted four times a year. The committee can also conduct
monthly meetings as needed and agreed upon beforehand. In its implementation, the Committee Chairman invites
all committee members and all members of the Board of Commissioners to attend the meeting led by the Committee
Chair or a member designated in writing if the chair is unable to attend.
The Risk Monitoring Committee meeting is considered valid if attended by more than ½ of the total members,
including a Commissioner and an independent party. Throughout the year 2023, the Risk Monitoring Committee held
four meetings, with minutes and attendance summaries as follows:
Attendance Frequency Summary
Number of Mandatory Number of
Name Position Percentage
Meetings Attendance
Fendy Eventius Mugni Chairman 1 1 100%
Totok Priyambodo Member 4 4 100%
Irwan Tri Nugroho Member 4 4 100%
Indra Riyawan Member 4 4 100%
Ravik Karsidi* Chairman 3 3 100%
*Mr Fendy Eventius Mugni was appointed as Independent Commissioner by replacing Mr Ravik Karsidi based on the Shareholders' decision deed outside the GMS to hold
the Annual GMS (Circular Decision) based on deed No. 137 dated 28 June 2023.
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Meeting Agenda
Meeting
No. Date Agenda Note
Participant
Jakarta, January 24, • Risk Appetite Statement (RAS) Periode Desember 2022 Komite Pemantau
1 -
2023 • Performance Review Pembiayaan Periode Desember 2022 Risiko
Jakarta, March 24, • Risk Appetite Statement (RAS) Periode Februari 2023 Komite Pemantau
2 -
2023 • Performance Review Pembiayaan Periode Februari 2023 Risiko
• Risk Appetite Statement (RAS) Periode Mei 2023
Komite Pemantau
3 Jakarta, June 27, 2023 • Performance Review Pembiayaan Periode Mei 2023 -
Risiko
• Operational Risk
Jakarta, September 21, • Risk Appetite Statement (RAS) Periode Agustus 2023 Komite Pemantau
4 -
2023 • Performance Review Pembiayaan Periode Agustus 2023 Risiko
Remuneration Policy
The remuneration policy of the Risk Monitoring Committee follows the policy set by PT Bank Mandiri (Persero) Tbk as
the Majority/Control Shareholder of the Company.
Summary Report on the Implementation of Duties and Activities of the Risk Monitoring Committee in the
Year 2023
To strengthen risk management within the Company, the work program tasks and obligations of the Risk Monitoring
Committee in 2023 included:
1. Providing direction on policies, strategies, and risk management frameworks in line with risk appetite and risk
tolerance.
2. Reviewing the compliance of the Company’s risk management policies.
3. Monitoring the implementation of risk management unit tasks.
4. Reviewing risk profile reports and/or risk levels.
5. Reviewing reports on the Company’s financial health.
6. Monitoring the adequacy of risk management process identification, measurement, monitoring, control, and
information systems.
7. Discussing the Risk Appetite Statement (RAS).
8. Integrated Risk Profile.
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Good Corporate
Governance
Board of Directors Supporting Organs
In implementing GCG principles, the Board of Directors has several supporting organs, both those formed according to
compliance and those formed according to needs, including:
BOARD OF DIRECTORS
CORPORATE
SECRETARY
RISK INTERNAL
COMMITTEES
MANAGEMENT AUDIT
ALCO CREDIT RISK INFORMATION
COMMITTEE COMMITTEE MANAGEMENT ANTI-FRAUD TECHNOLOGY
COMMITTEE COMMITTEE STEERING
COMMITTEE
Committees Under the Board of Directors
Asset and Liabilities/Asset Liabilities Committee (ALCO)
The Asset and Liabilities Committee (ALCO) is a committee formed to assist the Board of Directors in executing the
function of setting strategies for asset and liability management, determining interest rates, liquidity, and other
matters related to the management of the company’s assets and liabilities.
ALCO Membership in the Year 2023
Position Served By
Head President Director
1. President Director
Permanent Voting Member 2. Corporate Finance & Business Strategic Director
3. Sales & IT Director
1. Chief Risk Management
2. Chief Strategic Marketing
3. Chief AR Management & Digital
4. Retail Risk Management Division Head
Permanent Non-Voting Member 5. Treasury & Finance Division Head
6. Corporate Planning & Performance Management Division Head
7. Corporate Risk Management Division Head
8. Strategic Marketing & Communication Division Head
9. Accounting, Tax, & Financial Planning Division Head
Secretary Retail Risk Management Division Head
Alternative Secretary 1 Treasury & Finance Division Head
Alternative Secretary 2 Corporate Planning & Performance Management Division Head
Invitee Division Head dan/atau Department Head terkait materi yang hadir sebagai undangan
Duties and Responsibilities of ALCO
1. Monitor liquidity limits that need to be available according to the Company’s needs.
2. Manage market risk (maturity mismatch) and liquidity (market & liquidity risk) as input for management to assess
the level of exposure to market and liquidity risks.
3. Monitor lending interest rates to ensure the Company’s financial targets can be achieved.
4. Estimate the credit needs and required sources of funds.
5. Manage assets and liabilities sensitive to changes in interest rates and handle the impacts of these changes to
maximize interest income.
6. Act as a liaison with other units in financial and budget planning, new product development, portfolio management,
capital adequacy, and stable growth.
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7. Making strategic decisions in the field of asset and liability management, within the limits of the authority delegated
by the Board of Directors, such as establishing limits related to Liquidity Risk and Market Risk in accordance with
the overall risk-taking policy.
ALCO Meeting
The ALCO meeting is a forum for committee members to discuss any policies and strategic decisions related to the
management of the Company’s assets and liabilities. This meeting is held at least once a month.
The meeting is considered valid and has the authority to make binding decisions if the attending members include
a minimum composition of at least 2 Directors and the presence of 2 Functional Members (Risk Function and
Finance Function). The presence of the Director of Finance & CPM and/or the Director of Sales and Distribution can
be substituted by the presence of the President Director. Decisions made during the ALCO meeting are based on a
consensus recorded in the meeting minutes.
Throughout the year 2023, ALCO meetings have been conducted 12 times, following the provisions and mechanisms
applicable to the Company. Some of the discussions held in the ALCO meetings are related to:
Participant Attendance
No. Place & Date Agenda
Percentage (%)
Economic Outlook & Macroeconomic Forecast for December 2022
Pricing Development for December 2022
1 Jakarta, January 31, 2023 100
Liquidity Projection for January 2023
Proposal for Liquidity Reserves for the Year 2023
Economic Outlook & Macroeconomic Forecast for January 2023
Jakarta, February 23
2 Pricing Development for January 2023 83.33
2023
Liquidity Projection for February 2023
Economic Outlook & Macroeconomic Forecast for February 2023
3 Jakarta, March 29, 2023 Pricing Development for February 2023 83.33
Liquidity Projection for March 2023
Economic Outlook & Macroeconomic Forecast for March 2023
4 Jakarta, April 26, 2023 Pricing Development for March 2023 100
Liquidity Projection for April 2023
Economic Outlook & Macroeconomic Forecast for April 2023
5 Jakarta, May 30, 2023 Pricing Development for April 2023 100
Liquidity Projection for May 2023
Economic Outlook & Macroeconomic Forecast for May 2023
6 Jakarta, June 27, 2023 Pricing Development for May 2023 66.67
Liquidity Projection for June 2023
Economic Outlook & Macroeconomic Forecast for June 2023
7 Jakarta, July 20, 2023 Pricing Development for June 2023 100
Liquidity Projection for July 2023
Economic Outlook & Macroeconomic Forecast for July 2023
8 Jakarta, August 24, 2023 Pricing Development for July 2023 100
Liquidity Projection for August 2023
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Good Corporate
Governance
Participant Attendance
No. Place & Date Agenda
Percentage (%)
Economic Outlook & Macroeconomic Forecast for August 2023
Jakarta, September 21,
9 Pricing Development for August 2023 66.67
2023
Liquidity Projection for September 2023
Economic Outlook & Macroeconomic Forecast for September 2023
10 Jakarta, October 18, 2023 Pricing Development for September 2023 100
Liquidity Projection for October 2023
Economic Outlook & Macroeconomic Forecast for October 2023
Jakarta, November 21, Pricing Development for October 2023
11 100
2023 Liquidity Projection for November 2023
Proposal for Changes to ALCO Structure
Economic Outlook & Macroeconomic Forecast for November 2023
Jakarta, December 18,
12 Pricing Development for November 2023 100
2023
Liquidity Projection for December 2023
Summary Report on the Implementation of ALCO ”Credit Process.” The Sales Head reviews decisions
Committee Duties Year 2023 rejected by the Credit Head according to the ”Four Eye
Throughout the year 2023, the ALCO has carried out its Priciple”. The Branch Manager has the authority to make
functions by performing the following tasks: credit approval decisions.
1. Conducting analysis and presenting the results of
national and global economic conditions analysis to The Head Office Credit Committee for new credit
establish corporate strategies. approvals consists of retail sales functions (Area Sales
2. Analyzing liquidity, particularly analyzing sources Manager and Regional Manager), credit functions (Area
and projections of fund utilization. Credit Manager and Credit Management Division Head),
3. Analyzing MTF pricing conditions, including and the Board of Directors.
the realization of pricing for each product and
determining the Base Lending Rate for setting Duties and Responsibilities of the Credit
financing product rates. Committee
4. Establishing financing strategies to enhance market The Credit Committee, in every decision to approve
penetration. credit, is obligated to perform its function as a means of
risk control and credit management control.
Credit Committee
The credit committee is a group of MTF officials who The Credit Committee, as a means of risk management
can make credit approval decisions according to their control, implies that:
respective authorization limits obtained through the • Every financing approval made by the Credit Committee
Decree of WMP/Authority to Decide Financing. can be interpreted as a statement that the approved
customer’s financing request is feasible.
Membership of the Credit Committee • Every financing approval is a decision by the Credit
The Credit Committee consists of the Head Office Credit Committee to allocate funds to financing with mitigated
Committee and the Branch/Unit Credit Committee, most risks.
of which are appointed by the Board of Directors to have
WMP limits. The Credit Committee, as a means of credit management
control process, implies that:
The Branch Credit Committee for new credit approvals • Every approval by the Credit Committee is a part of
consists of the Credit Head, Sales Head, and Branch controlling the entire credit process.
Manager. The Credit Head provides analysis results and • Determine and ensure that the procedures for
decisions in the E-Star system through the Request of granting credit are carried out correctly in accordance
Credit Approval (RCA) found in the Credit menu under with existing procedure.
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Risk Management Committee Permanent Members:
With the increasing activities of the Company, the 1. Director of Finance & CPM
potential risks faced will become more complex. 2. Director of Sales & Distribution
Therefore, the Company forms a Risk Management 3. Chief Bidang Risk Management
Committee to support the Board of Directors in effectively 4. Retail Risk Management Division Head
overseeing and managing all potential risks. The 5. Corporate Risk Management Division Head
potential risks faced by the Company include Strategic 6. Corporate Secretary Division Head
Risk, Operational Risk, Credit Risk, Market Risk, Liquidity 7. Legal Division Head
Risk, Legal Risk, Compliance Risk, and Reputation Risk.
Non-permanent Members:
The duties and responsibilities of the Risk Management Senior officials who will be invited according to the
Committee are to provide recommendations to the relevance of the discussion
President Director regarding the Implementation of Risk
Management, which includes: Risk Management Committee Meeting
1. Formulating policies, strategies, and guidelines for 1. The Risk Management Committee Meeting is
implementing Risk Management. conducted periodically (at least 4 times a year).
2. Improving or adjusting the implementation of Risk 2. The Risk Management Committee Meeting can
Management based on the evaluation results of Risk be held if attended by more than ½ (half) of the
Management implementation. total members, including the Chairman of the Risk
3. Determining matters related to business decisions that Management Committee.
deviate from normal procedures. 3. The meeting is chaired by the Risk Management
4. Creating a summary of recommendations, follow- Chairman; if the Chairman is unable to attend, the
ups, and/or results of the implementation of Risk meeting can be led by a designated member.
Management. 4. The results of the Risk Management Committee
Meeting are documented in meeting minutes signed
The membership of the Risk Management Committee is by all attending members of the Risk Management
as follows: Committee.
Chairman: Director of Risk Management
Throughout the year 2023, the company has conducted the Risk Management Committee Meeting four times with the
summary agenda as follows:
Participant Attendance
No. Place & Date Agenda
Percentage (%)
Results of Stress Test for Semester 1 2023
Update on Implementation of COVID-19 Restructuring Provisions
Maximum Financing Provision Limit
1 March 30, 2023 Trendline of Corporate Fleet Portfolio & Industry Limits 100
Review & Monitoring of Operational Risk
Work Program for Consumer Protection Unit
Performance of Customer Complaint Services
Changes in Parameter & Rating Rules
Back Testing Results and Health Level of Company Financing
Corporate Fleet Portfolio
2 Jakarta, July 4, 2023 Maximum Financing Provision Limit 100
Operational Risk Profile of Branches
Compliance Risk
Performance of Customer Complaint Services
2023 Annual Report | PT Mandiri Tunas Finance 213
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Good Corporate
Governance
Participant Attendance
No. Place & Date Agenda
Percentage (%)
Integrated Stress Test
Improvement Processes Implemented in Corporate Fleet
Performance of Corporate Fleet
Proposed Validity Period for Purchase Orders & Facility Approval Letters
Jakarta, September
3 Framework, Scope, and Methodology for Operational Risk Review 100
27, 2023
Presentation of Control Testing Results and Monitoring in Retail Segments
Issue & Action Management (IAM) for Fleet Segments
Compliance Risk
Performance of Customer Complaint Services
Changes in Risk Based Bank Rating (RBBR) Methodology
Corporate Fleet Portfolio
Portfolio and Quality by Top 10 Economy Sectors
Corporate Fleet Restructuring Portfolio
4 December 27, 2023 Presentation of Control & Monitoring Results in Retail Segments 100
Review of Financing Limits
Compliance Risk
Performance of Customer Complaint Services
Update on Consumer Protection Implementation
Duties and Responsibilities of the Anti-Fraud
Anti-Fraud Committee Committee
The establishment of the Anti-Fraud Committee is 1. The Anti-Fraud Committee is the representative of
based on assisting the Board of Directors in specifically the central office unit/division that carries out the
addressing prevention (Anti-Fraud) internally within the functions of control, supervision, and handling of
Company. This is one form of management’s commitment corporate risk incidents, including fraud.
to implementing Good Corporate Governance (GCG) and 2. The Anti-Fraud Committee reports directly to the
fostering the Company’s work culture. President Director.
3. The Anti-Fraud Committee summarizes the findings
Membership of the Anti-Fraud Committee of fraud and reports them directly to the Board of
The composition of the Anti-Fraud Committee Directors and the Board of Commissioners.
membership consists of: 4. Discusses fraud incidents, considering factors such
1. Chairman of the Anti-Fraud Committee: Corporate as chronological evidence, root causes, financial
Secretary Division Head impacts, potential preventive measures for recurring
2. Vice Chairman of the Anti-Fraud Committee: and future fraud events.
Corporate Audit Division Head 5. Periodically monitors compliance with the
3. Members of the Anti-Fraud Committee: implementation of the code of ethics.
a. Corporate Risk Management Division Head 6. Conducts continuous evaluation of fraud incidents.
b. Retail & Operation Risk Management Division 7. Establishes improvement steps, controls, and
Head business processes to prevent the recurrence of
c. Human Capital Division Head fraud incidents.
d. Recovery Management Division Head
e. Legal Division Head Anti-Fraud Committee Meeting
f. Acting HC Learning Division Head The Anti-Fraud Committee Meeting is a discussion
involving all committee members and departments
related to indications of fraud within the Company.
It addresses reports of fraud indications from
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05
whistleblowers through email, the website, and the Information Technology Directing Committee
Anti-Fraud call center, as well as direct contact with In order to support the effectiveness of the tasks and
the committee. During the meeting, analysis, evidence responsibilities of the Board of Directors, the Company
from the reporter, decisions on follow-up actions and has formed a committee tasked with assisting the Board
fraud investigations, as well as recommendations for of Directors in providing guidance and monitoring the
sanctions against the perpetrator, are discussed. These implementation of the framework, policies, and risk
recommendations are later conveyed to the President management in the use of Information Technology in
Director for a final decision. accordance with POJK No. 4/POJK.05/2021 to support
business development and operations, including the
Throughout the year 2023, the Anti-Fraud Committee continuity of services to debtors.
Meeting has been conducted four times, in accordance
with the provisions and mechanisms applicable to the Roles and Responsibilities of the Information
Company. Some of the discussions in the Anti-Fraud Technology Directing Committee
Committee Meeting include: The roles and responsibilities of the Information
• Discussion of fraud indications based on WBS reports Technology Directing Committee involve recommending
• Discussion of the development of EDS and evaluation to the Board of Directors regarding the implementation
of WBS implementation of information technology, including:
1. Development plans for Information Technology
Sort Report on Task Implementation on the Year aligned with business activities.
of 2023 2. Formulation of policies and procedures for
Throughout the year 2023, the Anti-Fraud Committee Information Technology.
has carried out its functions by implementing the four 3. Alignment of the implementation of approved
pillars of the Anti-Fraud strategy in accordance with Information Technology projects with the Information
existing regulatory provisions. These pillars include: Technology development plan.
• Prevention (Preventive): 4. Alignment of Information Technology with the needs
Conducted preventive activities and strategies, such of the management information system and business
as raising awareness in branches and central offices activities.
regarding anti-fraud awareness. Regularly conducted 5. Effectiveness of risk mitigation for investments
training sessions, filling classes periodically, and in the information technology sector to ensure
distributed anti-fraud awareness posters to all contributions to business objectives.
employees every week through email and desktop 6. Monitoring the performance of Information
wallpapers on their laptops/computers. Technology and efforts to improve its performance.
• Detection 7. Resolution of various Information Technology-
Detected and analyzed all forms of reporting from related issues that cannot be effectively, efficiently,
whistleblowers, both internal and external. The and timely addressed by the relevant work units.
committee has analyzed resolutions, root causes, 8. Adequacy and allocation of Information Technology
and follow-up actions related to the resolution of resources.
cases to ensure their proper resolution.
• Investigation, Reporting, and Sanctions Membership of the Information Technology Steering
Investigations are conducted when there are Committee
indications of fraud, whether internally at the The membership of the Information Technology Directing
headquarters or at branch offices of the Company. Committee is as follows:
Additionally, the committee periodically reports findings 1. Chairman: Director of Information Technology
to management, regulators, and the parent company. The 2. Permanent Members:
committee provides recommendations for sanctions a. Chief of Risk Management Division
and presents these recommendations to management b. 2Information Technology Division Head
for decision-making during board meetings. c. 3Retail Risk Management Division Head
• Monitoring, Evaluation, and Follow-up d. Corporate Risk Management Division Head
The committee consistently monitors and coordinates e. Corporate Secretary Division Head
with other divisions regarding directives and follow- f. Strategic Marketing & Communication Division
up actions, including sanctions from management. Head
This ensures that sanctions decided for fraudulent 3. Non-Permanent Members:
acts are promptly implemented by the relevant Senior officials who will be invited based on the
division or regional head. relevance of the discussion.
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Good Corporate
Governance
Meeting of the Information Technology Directing Committee
1. The Information Technology Steering Committee meeting is held periodically (at least 4 times a year).
2. The meeting can proceed if attended by more than half (one per two) of the total members, including the Chairman
of the Information Technology Directing Committee.
3. The meeting is chaired by the Chairperson of the Information Technology Directing Committee. In case the Chairman
is unable to attend, the meeting can be led by a designated member.
4. The outcomes of the Information Technology Directing Committee meeting are documented in minutes/notes
signed by all attending members.
Throughout the year 2023, the Company has organized the Information Technology Directing Committee meeting four
times with the following summarized agenda:
No. Place & Date Agenda Participant
1. BOD:
1. Progress Update on ISO27001 Certification • Pinohadi G Sumardi
MTF1Access • Perana Citra
Online, March 17, 2. Update on IT CISO Mandiri Assessment • Johanes Barus
1
2023 3. Update on MTF Mobile Application 2. Kanda Octaviano (IT & Strategic Digital)
Development and Implementation of 3. Vitriati Hartika (Corporate Risk)
MTF1Access at Branch Offices 4. Citra Judith (CPM)
5. Camar Sativa (SMC)
1. BOD:
1. Update on Mandiri CISO Recommendations
• Pinohadi G Sumardi
2. Review of Reports related to IT Security
Online, July 6, • Perana Citra
2 3. Update on System Canalis Project
2023 • Johanes Barus
4. Update on MTF Mobile Application
2. Kanda Octaviano (IT & Strategic Digital)
Development
3. Vitriati Hartika (Corporate Risk)
1. Review of LockBit 3.0 Handling at MTF
1. BOD:
2. Review of Reports related to IT Security
Graha Mandiri, • Perana Citra
3. Update on Internal Development Progress
3 September 27, • Johanes Barus
4. Update on Enhancement Development for
2023 2. Kanda Octaviano (IT & Strategic Digital)
MTF Mobile Application, Host to Host with
3. Vitriati Hartika (Corporate Risk)
Hyundai Dealers, MTF1Access Application
1. Update on Fulfillment of IT Security
Requirements from Bank Mandiri's CISO 1. BOD:
2. Review of Reports related to IT Security • Pinohadi G Sumardi
Graha Mandiri, 3. Update on Internal Development Progress • Perana Citra
4 December 27, 4. Update on Preparation of IT Strategic Plan • Johanes Barus
2023 2024 2. Kanda Octaviano (IT & Strategic Digital)
5. Update on the Use of MTF1Access in Branch 3. Vitriati Hartika (Corporate Risk)
Offices, Development Plans for MTF1Access 4. Indra Budi Laksana (Retail Risk)
and MTF Mobile in 2024
Summary Report on the Implementation of the documents, and act as a liaison officer for the Company
Information Technology Steering Committee in dealings with external parties.
Duties for the Year 2023 The position and responsibilities of the Corporate
In the year 2023, the Information Technology Steering Secretary are regulated by the Financial Services
Committee has conducted 4 meetings to discuss the Authority Regulation No. 35/POJK.04/2014 concerning
necessary information technology strategies requiring Corporate Secretaries of Issuers or Public Companies.
decisions from management. For details on meeting
discussions, please refer to the meeting agenda data as Appointment and Dismissal of the Corporate
provided above. Secretary
The Corporate Secretary is appointed and dismissed by
Corporate Secretary the Chief Executive Officer (CEO) based on the Company’s
The Corporate Secretary ensures the Company’s internal mechanisms, with the approval of the Board of
compliance with regulations regarding disclosure Commissioners. The Corporate Secretary is responsible
requirements in line with the implementation of for and directly reports their activities to the CEO.
corporate governance principles. They provide The Corporate Secretary is prohibited from holding
information needed by the Board periodically and/ any position in other issuers or public companies
or when requested, manage and archive corporate concurrently.
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Qualifications of the Corporate Secretary 1. Competent in legal matters.
The Corporate Secretary is entrusted with the 2. Possesses knowledge and understanding in the
mission to consistently and sustainably support the fields of law, finance, and corporate governance.
creation of a positive image for the Company through 3. Understands the Company’s business activities.
effective communication program management to 4. Has excellent communication skills.
all stakeholders. The qualifications for the Corporate 5. Resides in Indonesia.
Secretary include, at a minimum:
Corporate Secretary
Name Arif Reza Fahlepi
Position Corporate Secretary
Legal Basis of the
The decision of the Board of Directors No. 01324/SKHCP.SVC/ HC/11/2018 dated November 26, 2018.
Appointent
Term of Office Since November 26, 2018
Period 1
Age 46 Years Old
Nationality Indonesian
Domicile South Jakarta
• Magister (S2) jurusan Corporate Communication di London School of Public Relations (2017)
Education Background
• Bachelor's degree in Indonesian Literature from Padjadjaran University (2001)
• Head of the Strategic Cooperation Division at the Public Affairs Forum Indonesia (2020 - Present)
• Head of Corporate Communication at PT Federal International Finance (2016-2018)
• Corporate Communication Analyst at PT Federal International Finance (2007-2016)
• Human Capital at PT Federal International Finance (2005-2007)
Work Experience • Surveyor at PT Federal International Finance (2004-2005)
• Editor at PT Cahaya Rakyat Merdeka (2001-2004)
• Marketing Officer at PT Purbaya Pancasakti (1997-2001)
• Active member of the Central Executive Board of the Indonesian Public Relations Association
(PERHUMAS) in the Strategic Cooperation division for the period (2017-2020)
Within the Company: None
Concurrent Position
Outside the Company: None
• Anti-Fraud Awareness Certification for Financing Companies (LPPI)
• Basic Financing Managerial Certification (LSPPI)
Professional Certification • Indonesian Financing Profession Certification (SPPI)
• Executive Public Relations Competency Certification from the National Professional Certification
Body (BNSP)
The Organizational Structure of Corporate Secretaries
Structurally, the Corporate Secretary is 1 (one) level below the Board of Directors. The Corporate Secretary reports
directly to the President Director. The Corporate Secretary supervises the heads of the Corporate Communication
Department, Corporate Compliance Department, Legal Business Department, and Customer Care Department. It is
hoped that the presence of a Corporate Secretary will assist the Board of Directors in managing Company information
and ensuring that the Company complies with regulations pertaining to disclosure requirements in accordance with
the application of GCG principles.
2023 Annual Report | PT Mandiri Tunas Finance 217
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Good Corporate
Governance
PRESIDENT DIRECTOR
CORPORATE SECRETARY DIVISION HEAD
CORPORATE
OFFICE OF THE BOARD CUSTOMER CARE
COMMUNICATION
DEPARTMENT HEAD DEPARTMENT HEAD
DEPARTMENT HEAD
Until the end of 2023, the number of employees in the Corporate Secretary, Legal Compliance & APU PPT Division is
as follows:
Position Number of Employee (Person)
Head of Division 1
Head of Department 3
Supervisor 17
Staff 6
Total 27
Corporate Secretary Work Guidelines Commissioners in implementing corporate
In order to support the work of the corporate secretary, governance, including:
Work Guidelines for Corporate Secretary No. 03/ a. Disseminating information to the public,
PGN/06/2016 was released on December 23, 2016, and including making information available on the
corrected/revised on December 14, 2018, with approval Company’s website.
from the Company’s Board of Directors. b. Timely submission of reports to the Financial
Services Authority.
Duties and Responsibilities of Corporate c. Conducting and documenting General Meetings
Secretary of Shareholders.
The functions, duties, and responsibilities of the d. Organizing and documenting meetings of
Corporate Secretary are as follows: the Board of Directors and/or Board of
Commissioners.
Functions e. Implementing orientation programs for the
Planning, coordinating, and controlling all aspects Company for the Directors and/or Board of
of the Company’s activities, including corporate Commissioners.
communication, CSR, handling consumer complaints, • Act as a liaison between the Company,
corporate actions, compliance with regulations, Shareholders, Financial Services Authority,
implementation of good corporate governance (GCG), and other stakeholders.
and serving as the contact person in relations with • Plan, coordinate, and ensure the smooth
shareholders, stakeholders, and regulators to enhance implementation of Corporate Actions such
GCG and the company’s compliance with regulations. as General Meetings of Shareholders, Public
Exposures, CSR, dividend distributions, and
Duties and Responsibilities the issuance of Bonds/MTNs.
1. Stay abreast of developments in the Capital Market, • Ensure that the Company’s articles of
particularly the prevailing regulations in the Capital association, licenses, and agreements comply
Market field. with applicable regulations.
2. Provide input to the Board of Directors and Board of • Oversee and coordinate the whistleblowing
Commissioners to ensure compliance with prevailing system to enhance internal controls.
regulations in the Capital Market field. • Ensure smooth People Management functions
3. Assist the Board of Directors and Board of in the Corporate Secretary division.
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Development of Corporate Secretary’s Competency
The Company facilitates the implementation of a development program for the Corporate Secretary to enhance
competencies. This program is expected to have a positive impact on the productivity and effectiveness of the
Corporate Secretary’s performance.
Activities for competency development attended by the Corporate Secretary Division Head in 2023 were as follows:
Participant Type/ Material of Training Organizer Time & Place
Arif Reza Fahlepi Webinar “Leadership in Changing
OJK Institute Online, August 8, 2023
(Corporate Secretary Division Head) Atmosphere”
Arif Reza Fahlepi Implementation of the Personal Data
OJK November 11, 2023
(Corporate Secretary Division Head) Protection Law
Arif Reza Fahlepi Hari Iman Wahyudi, S.
Anti-Fraud and Gratification December 12, 2023
(Corporate Secretary Division Head) psi, Psikolog, Cht
Arif Reza Fahlepi
Leadership for General Manager MTF December 12, 2023
(Corporate Secretary Division Head)
Implementation of the Corporate Secretary’s 9. Participating in public recognition activities and
Duties in 2023 sponsorship;
In general, the activities carried out by the Corporate 10. Reviewing and recommending updates and
Secretary throughout the year 2023 include: improvements to policies, provisions, and procedural
1. Organizing the Annual General Meeting of systems owned by the Company to comply with
Shareholders for the 2022 Fiscal Year and applicable regulations and laws; and
Extraordinary General Meeting of Shareholders in 11. Handling customer complaints and making regular
2023; mandatory reports.
2. Conducting regular Board of Directors and Board of
Commissioners meetings; Corporate Information Publication
3. Fulfilling the Company’s reporting obligations to the The Company is committed to consistently adhere to
Regulator; the principle of information transparency by publishing
4. Building relationships with external parties, various activities or information about the Company
especially stakeholders; throughout the fiscal year 2023. This is in accordance
5. Executing Company events, both internal and with Bapepam and LK Regulation No. X.K.1 (Chairman of
external; Bapepam and LK Decision No. Kep-86/PM/1996 dated
6. Implementing Corporate Social Responsibility, January 24, 1996) and Jakarta Stock Exchange Regulation
Financial Literacy, and Inclusion activities; No. I-E.IV (Director’s Decision of PT Bursa Efek Jakarta No.
7. Managing relations with mass media and monitoring Kep-306/BEJ/07-2004 dated July 19, 2004). The disclosure
news coverage; of material information by the Company is done through
8. Managing and updating the Company’s website reports or press releases.
content;
Monthly Financial Report of Financing Company
In accordance with OJK Regulation No. 3/POJK.05/2013 concerning Monthly Reports of Non-Bank Financial Institutions
and OJK Circular Letter No. 26/SEOJK.05/2019 concerning Amendments to OJK Circular Letter No. 3/SEOJK.05/2016
concerning Monthly Reports of Financing Companies, Financing Companies are required to submit Monthly Reports to
OJK no later than the 10th of each month. Throughout the year 2023, the Company has timely and in accordance with
applicable regulations reported Monthly Financial Reports to OJK. Please provide information
2023 Monthly Report Date of Report Submission
January February 10, 2023
February March 10, 2023
March April 10, 2023
April May 10, 2023
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Good Corporate
Governance
2023 Monthly Report Date of Report Submission
May June 11, 2023
June July 7, 2023
July August 8, 2023
August September 8, 2023
September October 11, 2023
October November 8, 2023
November December 11, 2023
December January 9, 2024
Obligation to Submit Foreign Exchange Debt Data
Based on OJK Letter No. S-30/PM.2/2013 dated February 7, 2013, and No. S-124/PM.23/2013 dated February 27, 2013,
regarding the Request for Foreign Exchange Debt/Obligation Data, Issuers or Public Companies are required to submit:
1. Report on the amount of foreign exchange debt/obligations
2. Projection of foreign exchange debt/obligation payments per month
3. Information on the maturity date of foreign currency debt/obligation If the issuer does not have or has foreign
currency debt/obligation, the issuer is still required to report to the OJK using the specified form. The above report
must be submitted to the OJK no later than the 10th of each month using the formula attached to OJK Letter No.
S-30/PM.2/2013 dated February 7, 2013.
Throughout the year 2023, the Company has reported to OJK the foreign exchange debt/obligation reports in a timely
manner and in accordance with applicable regulations, as follows:
2023 Monthly Report Date of Report Submission
January February 8, 2023
February March 7, 2023
March April 6, 2023
April May 5, 2023
May June 9, 2023
June July 6, 2023
July August 7, 2023
August September 6, 2023
September October 3, 2023
October November 7, 2023
November December 6, 2023
December January 4, 2023
Activities to Foster Relations with the Mass Management of Company Information and
Media Data Access
The Company consistently fosters good relationships The Company consistently provides convenience for
with the Mass Media as partners in disseminating stakeholders to access Company information and data
information about the Company’s condition. The through the website www.mtf.co.id. In addition to being
Company periodically conducts joint activities with the a means of disseminating information to the public,
mass media to enhance communication by engaging in this website also represents the Company’s efforts
various activities. to implement GCG practices and transparency to all
stakeholders.
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Management of the Company’s Website The Company regularly updates the website to provide the
In accordance with Financial Services Authority (OJK) latest information related to the company to stakeholders
Regulation No. 8/POJK.04/2015 regarding the Company and to comply with applicable regulations. The Company’s
Website of Issuers and Public Companies, the Company website also provides contact numbers, email addresses,
has an official website reflecting the company’s identity and postal addresses for further communication with
and can be accessed through www.mtf.co.id. The stakeholders. The Company has made efforts to adjust
company’s website is divided into two platforms: the the website based on OJK Regulation No. 8/POJK.04/2015..
product and service website at www.mtf.co.id managed
by the marketing team, and the corporate website at Below is the compliance of the content of the Company’s
www.mtf.co.id/corporate managed by the Corporate corporate website www.mtf.co.id/corporate with the
Secretary. Financial Services Authority (OJK) Regulation No. 8/
POJK.04/2015 regarding the Company Website of Issuers
or Public Companies.
Compliance with MTF
POJK No. 8/POJK.04/2015 on Issuer or Public Company Websites
No. Note
Websites
Yes No N/A
General Requirement
Website access through www.mtf.
1 The Issuer or Public Company has a Website. √
co.id and www.mtf.co.id/korporat/id
• POJK No 8/ POJK.04/2015
a. he Issuer’s or Public Company’s Website has been
√ • POJK No 31/ POJK.04/2015
made with due observance of laws and regulations
2 • POJK No 29/POJK.04/2016
b. The Website already has a Website address that
√ Ya
reflects the identity of the Issuer or Public Company
a. The website of the Issuer or Public Company has
presented information in Indonesian and foreign
√ Ya
languages, provided that the foreign language used
3 is at least English
b. Information presented in foreign languages contains
the same information as information presented in √ Ya
Indonesian.
Information Contained on The Website
a. The Website contains information about Issuers or
Public Companies which is open to the public, √ -
4 current and up-to-date
b. The information referred to in letter a has fulfilled
the following conditions:
1. Presented correctly and not misleading regarding
√ -
the condition of the Issuer or Public Company;
2. Presented clearly so that it is easy to understand;
√ -
and
3. Can be accessed at any time by all parties. √ -
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Good Corporate
Governance
Compliance with MTF
POJK No. 8/POJK.04/2015 on Issuer or Public Company Websites
No. Note
Websites
Yes No N/A
General information of Issuers or Public Companies Matters
that must be disclosed include
a. Name, address and contact of the head office and/or
representative office of the Issuer or Public Company,
and the address of the manufacturer (if any), which The addresses of the head office
√
at least includes a telephone number, facsimile and branch offices are available
number and e-mail address where you can be
contacted;
b. Brief history of the Issuer or Public Company; √ Available
c. Organizational structure of the Issuer or Public
√ Updated on March 5, 2023
Company;
d. Issuer or Public Company ownership structure,
including:
1. A description of the names of the shareholders MTF is a non-public company, so
and their percentage of ownership at the end of √ information of share ownership has
each month; not changed
2. Information regarding the major and controlling
shareholders of the Issuer or Public Company,
either directly or indirectly, up to the individual √ Available
owner, which is presented in the form of a
5 schematic or diagram; and
3. Names of subsidiaries, associated companies,
joint venture companies where the Issuer or
Public Company has joint control of the entity, None because the Company has no
√
along with the percentage of share ownership, subsidiaries.
line of business and operating status of the
company (if any);
e. The structure of the Issuer or Public Company group
in chart form which at least includes companies in
Information on the group structure
the Issuer or Public Company group Public who are √
of Bank Mandiri and Tunas Ridean.
under the supervision of the Financial Services
Authority;
f. Profiles of the Board of Directors, Board of
Commissioners, committees and Corporate Secretary
at least include
1. Photo; √ -
2. Name; √ -
3. History of position, including concurrent
√ -
positions;
4. Education Background; and √ -
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Compliance with MTF
POJK No. 8/POJK.04/2015 on Issuer or Public Company Websites
No. Note
Websites
Yes No N/A
5. Affiliation relationship between members of the
Board of Directors and members of the Board of
Commissioners with other members of the Board √ -
of Directors and/or members of the Board of
Commissioners, as well as shareholders (if any);
g. Name and address:
1. Public Accountant who audits the financial
statements of Issuers or Public Companies in the √ -
current year;
2. Securities Rating Agency (if any); √ -
3. Trustee (if any); and/or √ -
4. Securities Administration Bureau (if any); and √ -
h. Articles of Association document √ Available.
Information for investors or investors Items that must be
disclosed include:
a. Public Offering Prospectus; √ Available.
b. Annual report, for the last 5 (five) financial years; and √ Available.
c. Financial information, at least includes:
1. Annual financial reports, for the last 5 (five)
√ Available.
financial years;
2. Semi-annual financial reports, for the last 5 (five)
√ Available.
financial years; and
3. Summary of important financial data, in the form
of a comparison for the last 5 (five) financial years √ Available
which at least contains:
a) revenue; √ -
b) gross profit; √ -
6 c) profit (loss); √ -
d) total profit (loss) attributable to owners of the
√ -
parent entity and non-controlling interests;
e) total comprehensive profit (loss); √ -
f) total comprehensive profit (loss) attributable to
owners of the parent entity and non-controlling √ -
interests;
g) earnings (loss) per share; √ -
h) total assets; √ -
i) total liabilities; √ -
j) total equity; √ -
k) ratio of profit (loss) to total assets; √ -
l) ratio of profit (loss) to equity; √ -
m) profit (loss) to revenue ratio; √ -
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Good Corporate
Governance
Compliance with MTF
POJK No. 8/POJK.04/2015 on Issuer or Public Company Websites
No. Note
Websites
Yes No N/A
n) current ratio; √ -
o) liabilities to equity ratio; √ -
p) ratio of liabilities to total assets; and √ -
q) information and other financial ratios that are
√ -
relevant to the company and its type of industry;
d. Information on the General Meeting of Shareholders,
at least includes:
1. Announcement and summons; √ -
2. Agenda items discussed at the General Meeting of
√ Available.
Shareholders;
3. Curriculum vitae of prospective members of the
Board of Directors and Board of Commissioners if There was a change in the Board of
there is an agenda item appointment or √ Commissioners during the Annual
replacement of members of the Board of Directors General Meeting in 2023.
and Board of Commissioners; and
4. summary of the minutes of the General Meeting
√ Available.
of Shareholders;
e. Share information, at least includes:
The data is in the form of stock
1. Number of outstanding shares; √
composition information
2. Stock split (if any); √ -
3. Merger of shares (if any); √ -
4. Bonus shares (if any); and √ -
5. Change in nominal value of shares (if any); √ -
f. Information on bonds and/or Sukuk, at least
includes:
a. The value of outstanding bonds and/or Sukuk; √ Available
b. Bond and/or Sukuk rating results; √ -
c. Due date; and √ -
d. Bond interest rates and/or Sukuk yields; √ -
g. Dividend information; √ Available.
h. Information for investors or investors, media, public,
√ -
and/or analysts (if any);
i. Information regarding corporate actions taken by
Issuers or Public Companies and actions taken by
other parties against Issuers or Public Companies (if
any), including:
1. Affiliated Transactions and Conflicts of Interest in
√ -
Certain Transactions;
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Compliance with MTF
POJK No. 8/POJK.04/2015 on Issuer or Public Company Websites
No. Note
Websites
Yes No N/A
2. Material Transactions and changes in Main
√ -
Business Activities;
3. Business Merger or Business Consolidation; √ -
4. Public Company Takeover; √ -
5. Quasi Reorganization; √ -
6. Buy back shares issued by Issuers or Public
√ -
Companies;
7. Distribution of Bonus Shares; √ -
8. Tender Offer Statement; √ -
9. Repurchase of shares by Issuers or Public
Companies in market conditions that have the √ -
potential for a crisis; and
10. Share ownership program by members of the
Board of Directors, members of the Board of
√ -
Commissioners, and employees of Issuers or
Public Companies or controlled parties; and
j. Information regarding corporate actions taken by
Issuers or Public Companies and actions taken by
√ -
other parties against Issuers or Public Companies (if
any), including:
Corporate governance information Items that must be
disclosed include:
a. Work guidelines for the Board of Directors and the Sudah dilengkapi di bagian
√
Board of Commissioners; keterbukaan informasi
b. Appointment, removal, and/or vacancy of the
Corporate Secretary, including the temporary
√ Available.
Corporate Secretary, as well as the supporting
information;
Sudah dilengkapi di bagian
c. Internal Audit Unit Charter; √
keterbukaan informasi
d. Code of Ethics; √ Available.
e. Committee work guidelines; √ Available.
7
f. Appointment and dismissal of members of the Audit
√ Available.
Committee;
g. Description of Nomination and Remuneration
procedures, if no Nomination and Remuneration √ Available.
Committee is formed
h. Risk management policy; √ Available.
i. Violation reporting system mechanism policy (if
√ Available.
any);
j. Anti-corruption policy (if any); √ -
k. Policies related to supplier selection and creditor
√ -
rights (if any); and
l. Policies on vendor capability enhancement (if any). √ -
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Good Corporate
Governance
Compliance with MTF
POJK No. 8/POJK.04/2015 on Issuer or Public Company Websites
No. Note
Websites
Yes No N/A
Corporate social responsibility information
a. Information on corporate social responsibility
includes policies, types of programs, and costs √ -
incurred by Issuers or Public Companies
b. Policies, types of programs, and costs as referred to
in letter a related to the following aspects:
8
1. The environment; √ Available.
2. Employment, health and safety practices; √ Available.
3. Social and community development; and √ Available.
4. Product and/or service responsibility, accompanied
√ Available.
by supporting information
The information contained in the Website contains the
9 same information as the information required in each √ Available.
relevant regulation
Customer Service • Mobile Collection
The Company provides customer service channels that • Mobile License Plate
can be used by customers to ask questions, request data • MTF Report
needs, or complain. • MTF OSR
E-mail : customer.service@mtf.co.id 2. HC EAZY
(Monday-Friday, pk 08.30-17.30 WIB) 3. MTF Mobile
Care center : 15000 59 4. MTF1Access
(Monday-Friday, pk 08.00-17.00 WIB)
Media Relations
Company Social Network The Company utilizes the mass media as a partner to
The Company also focuses on the development of social disseminate information about the Company to the
media as a communication facility for interactions with public. Regarding media relations activities have been
all stakeholders. For this reason, the Company opened reviewed in the Corporate Secretary section of this
online communication channels through various social annual report.
media.
Facebook Fanpage : Mandiri Tunas Finance Annual Report
Instagram : @mandiritunasfinance The Company also publishes an Annual Report which
LinkedIn : Mandiri Tunas Finance is distributed to shareholders and other stakeholders.
Twitter : @mandiritunasfin Issuance and submission of the Annual Report is also
Chatbot MARSHA : 62 811-1455-740 a form of compliance by the Company with regulatory
Youtube : Mandiri Tunas Finance provisions and Company information as well as one of
Website : mtf.co.id the conditions for implementing the GMS.
Mobile Application Information Governance and Company Data
The Company has several mobile applications based on Access for Internal
the Android and IOS operating systems that can be used The Company provides access to company information
by customers and the public to obtain motor vehicle and data for employees to provide convenience in
financing services from the Company and entertainment carrying out their duties and access various facilities
(games). with the following channels and media:
1. MTF Mobile Apps
• Mobile Survey
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No. Name of Application Function
The Core App System that is used by MTF for all processes from acquisition to managing
1 Estar
integrated accounts.
2 Mobile Collection Mobile application used by the Collection team to support the customer billing process
3 Mobile Survey Mobile application that helps the sales team to conduct prospects and surveys to customers.
HC Eazy is a Human Resource Information System (HRIS) application that is used internally
4 HC Eazy by MTF employees to access employee data, employee benefits such as leave, attendance,
and others.
Knowledge Management System that is used internally by the company for information
5 KMS
centers, user guides to Q&A related to existing applications in the company
The e-procurement application is used by the Procurement Division and vendors as a means
6 Eprocurement
of submitting prices when conducting procurement.
The Helpdesk System is a web application that is used by MTF internal employees to get help
7 Helpdesk System from IT personnel to solve IT-related problems experienced by employees in the Head Office
and Branch Offices.
i-Care is a web application used by Customer Care to process complaints, criticisms and
8 I-Care
suggestions submitted by MTF customers
Queuing System is a web application that is used in the Customer Lounge and at Branch
9 Queuing System Offices as a queuing system for Customers who come to the Customer Lounge and Branch
Offices
Office 365 email has replaced the MTF employee email system which previously used
10 Email System Office 365 Microsoft Exchange, where Office 365 already uses the cloud for its email system so it doesn’t
become a burden on the MTF server
SunGL Accounting SunGL Accounting System is an application used by the accounting team to store a summary
11
System of each existing account.
Risk Management Function
The Company has a Risk Management Division consisting of Retail Risk Management and Corporate Risk Management
which is tasked with managing risks to avoid the impact of losses on the Company resulting from the risks it faces.
Overview of the Risk Management System at MTF
The Company has implemented risk management with reference to POJK No. 44/POJK.05/POJK.05/2020 concerning
Implementation of Risk Management for Non-Bank Financial Services Institutions. The risk management function is
designed to be independent from the business and operational function work units which are given access to provide
information to the Directors and Commissioners regarding risk assessment, risk profile changes, risk limit assessments
and events that may have a material impact on the Company’s business continuity and operations.
Party Appointing and Removing the Head of Risk Management
The Head of Risk Management is an official of the Company who is appointed and removed by the President Director
based on the Company’s internal mechanisms.
Head of Risk Management Profile
Based on Directors’ Decree No. 00093/SK-HCP.SVC/HC/VII/2023 dated 1 August 2023 and Directors’ Decree No. 00017/
SK-HCP.SVC/HC/IV/2023 dated 30 April 2023, the President Director appointed Indra Budi Laksana as Head of the
Retail Risk Management Division and Vitriati Hartika Tapiheroe as Head of the Company’s Corporate Risk Management
Division.
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Good Corporate
Governance
Indra Budi Laksana
Name and Position
Head of Retail Risk Management Division
Indonesian citizen
Personal Data Age 47 years old. Born in Sleman, September 3, 1976
Domicile: South Tangerang, Banten, Indonesia
• Bachelor of International Relations, Universitas Gadjah Mada (1995-1999)
• Basic Financing Managerial Certification from PT Indonesian Financing Profession Certification (SPPI)
Education (2023)
• Banking Risk Management Certification – Level 3 from Banking Professional Certification Institute
(2019)
Joined MTF As of August 1, 2023, serving as Head of Retail Risk Management Division.
Before joining the Company, he had a career at Bank Mandiri. Some of the positions he held are:
• Department Head of Micro Productive Collection & Recovery, PT Bank Mandiri (Persero), Tbk. (2019-
2023)
• Consumer Collection & Recovery Head, PT Bank Mandiri (Persero), Tbk. (2017-2019)
Work Experience
• Retail Credit Collection Head, PT Bank Mandiri (Persero), Tbk. (2015-2017)
• Retail Risk & Collection Center Manager, PT Bank Mandiri (Persero), Tbk. (2013-2015)
• Team Leader Collection & Recovery Analytics, PT Bank Mandiri (Persero), Tbk. (2011-2013)
• SPS RC Collection & Recovery Analytics, PT Bank Mandiri (Persero), Tbk. (2010-2011)
Vitriati Hartika Tapiheroe
Name and Position
Head of Corporate Risk Management
Indonesian citizen
Personal Data Age 46 years old. Born in Bandung on September 7, 1977
Domicile: South Jakarta, DKI Jakarta, Indonesia
• Bachelor of Ocean Engineering, Bandung Institute of Technology (1997 – 2002).
• Qualified Chief Risk Officer (QRCO), National Professional Certification Body (2018).
Education
• Risk Management Certification One Level Below Director - Indonesian Financing Profession
Certification Institute (2023).
Joined MTF January 30, 2023, appointed as Head of Corporate Risk Management Division.
• Head of Corporate Risk Management Division, PT Mandiri Tunas Finance (2023 – Present)
• Head of Risk – Indonesia Allianz Trade ASEAN, PT Asuransi Allianz Utama Indonesia (2016 – 2023)
• Corporate Credit Manager, PT Chandra Sakti Utama Leasing (2014 – 2016)
Work Experience • Senior Credit Analyst, PT Chandra Sakti Utama Leasing (2012 – 2014)
• Senior Credit & Risk Analyst, PT ORIX Indonesia Finance (2010 – 2011)
• Senior Staff in General Affairs, PT ORIX Indonesia Finance (2007 - 2009)
• Leasing Account Manager, PT ORIX Indonesia Finance (2003 - 2007)
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Organizational Structure and Position of Risk Management Function
CHIEF
RETAIL RISK MANAGEMENT CORPORATE MANAGEMENT
DIVISION HEAD DIVISION HEAD
RETAIL CREDIT
DATA ENTERPRISE POLICY &
RISK & ASSET OPERATIONAL RISK CORPORATE RISK BCM & IT RISK
MANAGEMENT PROCEDURE
LIQUIDITY DEPARTMENT HEAD DEPARTMENT HEAD DEPARTMENT HEAD
DEPARTMENT HEAD DEPARTMENT HEAD
DEPARTMENT HEAD
In 2023, the Retail Risk Management Division and Corporate Risk Management Division have a total of 28 employees
with the following details:
Number of Employees in Number of Employees in the
Total Number
Position/Function the Retail Risk Management Corporate Risk Management
of Employees
Division Division
Head of Division 1 person 1 person 2 people
Head of Department 2 people 3 people 5 people
Analyst dan Section Head 7 people 7 people 14 people
Officer 2 people 6 people 8 people
Admin 1 person 0 1 person
Total 13 people 17 people 30 people
Risk Management Professional Certification
Professional certification is very important for risk managers to understand the development of risk management, and
the following is a list of professional certifications owned by the Retail Risk Management Division and the Corporate
Risk Management Division:
Division Retail Risk Management Corporate Risk Management
Number of Ratio to Number of Number of Em- Ratio to Number of
Type of Certificate Employees Who Divisional Employees ployees Who Have Divisional Employees
Have (people) (%) (people) (%)
Risk management professional
certificate from the Certification 10 77 9 52
Body Risk Management (BSMR)
Basic Managerial Certification 3 100 2 50
Duties and Responsibilities of Risk Management Function
The duties and responsibilities of the Risk Management Function are:
1. Identify the risks inherent in the company’s business activities.
2. Develop risk measurement methods.
3. Monitoring the implementation of the risk management strategy and overall risk position, per type of risk and
conducting tests using scenarios of abnormal conditions using historical data.
4. Provide recommendations to business and operational units.
5. Prepare and submit risk profile reports to the Board of Directors.
6. Periodically review the risk management process and suggestions for business development or expansion.
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Good Corporate
Governance
Management Competency Development
The Company is committed to enhancing employee competencies, including those in the risk management function,
especially in the field of risk management. This program is expected to have a positive impact on the productivity and
effectiveness of the Company’s risk management.
Competency improvement activities attended by the Retail Risk Management Division Head and Corporate Risk
Management Division Head in 2023 are as follows:
Participant Type/Material of Training Organizer Time & Place
Indra Budi Laksana Certification in Risk Management
APPI Jakarta, July 2023
(Retail Risk Management Division Head) One Level Below Director
Indra Budi Laksana Omega Credit Skills Accreditation
Moodys Analytics Jakarta, August 2023
(Retail Risk Management Division Head) Training
Vitriati Hartika Tapiheroe Certification in Risk Management
APPI Jakarta, July 2023
(Corporate Risk Management Division Head) One Level Below Director
Summary Report on Risk Management Duties Implementation in 2023
Throughout the year 2023, the risk management function has executed the following tasks:
1. Monitoring risk profiles and managing all risk profiles to establish risk appetite, risk limits, and risk management
strategies outlined in the Risk Appetite Statement (RAS).
2. Monitoring and evaluating the overall portfolio development and quality.
3. Maintaining the company’s Health level to always remain minimally healthy and preparing and presenting Health
level reports to the Board of Directors, Commissioners, and regulators.
4. Periodically conducting stress testing to measure the impact of changes in macroeconomic factors on the company’s
capital, liquidity, asset quality, and earnings based on predefined scenarios.
5. Developing and/or evaluating and refining company policies and procedures.
6. Formulating Portfolio Guidelines & Industry Limits used specifically in the Corporate Fleet segment, and adjusting
risk acceptance criteria for financing.
7. Monitoring delinquent debtors through overdue meetings and watchlist tools as part of the Early Warning System
in the Corporate Fleet segment.
8. Managing operational risks of the company and implementing Business Continuity Management (BCM) including:
• Post-check audits through Quality Assurance (QA) on parameters as per regulations.
• Optimization of the Regional Control Officer (RCO) function by maximizing RCO tasks in controlling & monitoring
branch operational activities.
Assessment of Risk Management Performance in 2023
Throughout 2023 the risk management function has carried out all the targets set and all initiatives implemented have
succeeded in maintaining the quality of the financing portfolio, where the level of Non Performing Financing (NPF) is
well maintained at the level of 0.70% in 2023.
Internal Audit
The Internal Audit function is one of the requirements in the implementation of Good Corporate Governance Principles
and is mandatory in the management of Financing Companies. The Internal Audit function is an activity of providing
assurance and consulting aimed at enhancing value and improving the company’s operations by evaluating the
effectiveness of internal control, the implementation of risk management, and the corporate governance process.
The position of Internal Audit within the organization is directly under and accountable to the Chief Executive Officer.
It can communicate directly with the Board of Directors and Board of Commissioners through the Audit Committee to
inform them of various matters related to audit activities.
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Appointment and Dismissal of Head of The responsibilities of Internal Audit include: preparing
Internal Audit the Annual Audit Plan with the approval of the Chief
The Head of the Internal Audit Unit is an official of Executive Officer, conducting internal audit activities with
the Company appointed and dismissed by the Chief an emphasis on high-risk areas/activities and evaluating
Executive Officer based on the internal mechanisms the adequacy of internal controls, monitoring the follow-
of the Company, with the approval of the Board of up of internal audit activity results, developing programs
Commissioners, and reported to the Regulator. to improve the quality of Internal Audit, and serving as the
counterpart to external audit.
Authority and Accountability
To effectively carry out its duties, Internal Audit is Profile of Head of Internal Audit
granted authority and responsibilities, taking into Based on the Board of Directors Decree No. 00078/SK-HCP.
account the principles of independence, objectivity, and SVC/HC/06/2022 dated 22 June 2022, the President Director
professionalism. The authority of Internal Audit includes: appointed Bayu Mario as Head of the Company’s Internal
conducting internal audit activities for all units at the Audit, and this was reported to the Financial Services
head office and branch offices, accessing all information, Authority (OJK) through letter No. 128/MTF-CLC.CCS/VI/2022
employee records, resources, and other necessary matters, on 24 June 2022.
conducting investigative activities into activities suspected
of fraud and violations of the code of conduct, and
attending strategic meetings without voting rights.
Name Bayu Mario
Position Head of Internal Audit
Dasar Hukum Pengangkatan Director's Decision Letter No. 00078/SK-HCP.SVC/HC/06/2022 dated June 22, 2022.
Term of office 1,5 Years
Period 1st
Age 52 Years Old
Nationality Indonesia
Domicile Tangerang
• Bachelor of Accounting from Sriwijaya University (1996)
Educational Backgroud
• Master of Management from Trisakti University (2003)
• PT Bank Dagang Negara (1996) as Officer Development Program
Work Experiences • PT Bank Mandiri (Persero) Tbk (1999-2022) as Auditor, Quality Assurance & Control, Credit
Operation, Mandiri University.
Within the Company: None
Concurrent Position
Outside the Company: None
• Qualified Internal Auditor (QIA) Certification by the Internal Audit Education Foundation
(YPIA) – 1998
• Certified Fraud Examiner (CFE) by Association of Certified Fraud Examiners (ACFE) – 2011
• Certified Chartered Accountant (CA) by the Institute of Indonesia Chartered Accountants (IAI)
Professional Certification – 2021
• Level 3 Risk Management Certification by the National Professional Certification Agency
(BNSP) – 2018
• Internal Audit Certification - Supervisor by the National Professional Certification Agency
(BNSP) - 2015
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Good Corporate
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Internal Audit Organization Structure and Position
Structurally, Internal Audit is positioned one level below the Board of Directors. The Head of Internal Audit reports
directly to the President Director. The following is the organizational structure and position of Internal Audit that
illustrates its scope of duties and functions, as well as its coordination within the Company’s organization
Organization Structure of Internal Audit of Mandiri Tunas Finance
PRESIDENT DIRECTOR
CORPORATE AUDIT DIVISION HEAD
CORPORATE AUDIT DISTRIBUTION & DISTRIBUTION &
IT CORPORATE
DEV. & ASSURANCE BUSINESS AUDIT SUPPORT AUDIT
AUDIT DEPT. HEAD
DEPT. HEAD DEPT. HEAD DEPT. HEAD
Until the end of 2023, the Internal Audit Unit has 18 (eighteen) employees with details of placement and task as follows:
Position/Function Number of Employee
Head of Division 1 person
Head of Department 4 people
Lead Auditor 11 people
IT Audit Analyst 2 people
Audit Development Section Head 1 person
MIS Audit Analyst 1 person
Quality Assurance Analyst 2 people
Auditor 3 people
Audit Admin 1 person
Total 26 people
The number of employees is the result of the identification and assessment of the management of internal control
systems and the effectiveness of supervision conducted by the Company’s Management.
The Internal Audit Unit always strives to provide continuous education for all its personnel to meet adequate
qualifications and competencies, including professional certification in the field of Internal Audit. The professional
certifications held by Internal Audit Personnel until 2023 can be seen in the table below.
Number of Owning Employee
Type of Certificate
(people)
Sertifikasi Dasar Pembiayaan - Managerial 4
Certified Fraud Examiner (CFE) 1
Certified Chartered Accountant (CA) 1
Qualified Internal Audit (QIA) 2
Sertifikasi Manajemen Risiko (BSMR) Level 2 1
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Number of Owning Employee
Type of Certificate
(people)
Sertifikasi Manajemen Risiko (BSMR) Level 3 1
Certified Public Accountant (CPA) 1
Certified Lead Auditor ISO 27001 1
The company is committed to enhancing the level of consists of professional principles for internal auditors
professional certification for Internal Audit employees, in the conduct of audits, namely: Integrity, Objectivity,
both for those who already possess professional Confidentiality, Competence. Internal auditors are
certifications and those who do not. expected to apply these ethical principles, as follows:
Internal Audit Guidelines and Regulations Integrity
To comply with the provisions of the Financial Services Internal auditors have a personality characterized by
Authority Regulation No. 56/POJK.04/2015 regarding the honesty, courage, wisdom, and responsibility to build
Establishment and Guidelines for the Preparation of the trust as a basis for reliable judgment.
Internal Audit Unit Charter, the Company has an Internal
Audit Charter that has been approved by the Board of Objectivity
Directors and the Board of Commissioners, serving as a • Internal auditors uphold professional impartiality
reference or guide in carrying out its duties, obligations, in collecting, evaluating, and processing data/
and authorities. information about the activities or processes under
examination.
The Internal Audit Charter stipulates that: • Internal auditors make balanced judgments,
1. The Internal Audit Division is led by a Head of considering all relevant circumstances and not being
Division who is appointed and dismissed by the influenced by personal or other interests.
President Director with the approval of the Board of
Commissioners. Confidentiality
2. The Head of the Internal Audit Division reports Internal Auditors respect the value and ownership of
directly to the President Director and reports to the information received and do not disclose information
Audit Committee. without authorized authorization, unless there is a legal
3. The appointment, replacement, or dismissal of the or professional obligation to disclose the information.
Head of the Internal Audit Division is reported to the
competent authority regulating and supervising the Competence
Company’s business activities. • Internal auditors use the knowledge, skills,
4. All Internal Auditors in the Internal Audit Division experience, and expertise required to perform their
are accountable to the Head of the Internal Audit assigned tasks.
Division. • Internal audit activities must be carried out with
professional knowledge and skills, meaning having
Internal Audit Independence the knowledge, skills, and other competencies
Internal auditors have independence in conducting needed to fulfill their responsibilities.
internal audit activities, expressing views and thoughts in
accordance with the applicable profession and standards, Internal Audit Functions
expressing views without the influence or pressure of In general, the functions of Internal Audit are divided
other parties, freedom to apply audit methods/scope of into 2 (two), namely assurance and consulting functions.
techniques, not engaging in operational activities, and
avoiding task and role entanglement. Assurance Function
The assurance function aims to ensure that internal
Internal Audit Code of Ethics controls, risk management, and governance have been
In carrying out their duties and responsibilities, implemented by all units in accordance with the written
internal auditors are required to act professionally and policies and procedures of the Company and external
adhere to established ethical codes. The Code of Ethics regulations. The assurance function aims to provide
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Good Corporate
Governance
an independent assessment that internal controls, risk 9. Identify all possibilities to improve and enhance the
management, and governance have been carried out by efficiency of resource and fund utilization.
all units in accordance with policies and procedures in 10. Provide improvement advice and objective
the Company as well as external regulations. In carrying information about the activities examined at all
out the assurance function, Internal Audit uses a risk- management levels.
based audit method or Risk-Based Audit (RBA). In this 11. Prepare audit result reports and submit them to the
method, the determination of units and activities to President Director and other members of the Board
be audited, as well as the scope of the audit, is based of Directors, as well as the Board of Commissioners
on periodic risk evaluations with a focus on key risks through the Audit Committee.
throughout the Company in both branch/region office 12. Monitor, analyze, and report on the follow-up of
networks and the Head Office based on management Internal Audit activities and Investigation Activities.
concerns, input from units, data analytics, and
mandatory aspects (regulations).. Authority of Internal Audit
1. Conducting internal audit activities on the operations
Consulting Function of all units within the headquarters and branch
In addition to the assurance function, Internal Audit offices of the company.
also performs consulting functions as a strategic 2. Directly communicating with the Board of Directors,
partner to enhance the effectiveness and efficiency Board of Commissioners, and/or Audit Committee.
of the Company’s processes and activities through 3. Holding regular and ad-hoc meetings with the Board
the review and evaluation of risks and controls by of Directors, Board of Commissioners, and/or Audit
providing advice and input for process and activity Committee.
improvements. In carrying out the self-analysis 4. Communicating with external auditors, including
function, which is an initiative of Internal Audit or in regulators.
collaboration with other units based on requests from 5. Having access to all information, records, employees,
management and units. including but not limited to employee accounts/
records, resources, and other relevant matters
Duties and Responsibilities as well as Au- related to its duties and functions.
thority of Internal Audit 6. Conducting investigations into activities suspected
of fraud and violations of the code of conduct
The roles and responsibilities of Internal Audit reported to the Board of Directors.
1. Plan and execute Internal Audit activities with an 7. Obtaining approval and/or requesting power of
emphasis on areas/activities with high risk, and attorney with substitution rights from employees
evaluate existing procedures/control systems to when conducting examinations on indications of
ensure that the company’s objectives and targets violations or non-compliance, including:
can be achieved optimally and sustainably. • Account data/information in Bank Mandiri and/
2. Conduct investigations, report, and provide or other banks.
recommendations/conclusions on fraud to • Data/information, both electronic and non-
Management. electronic.
3. Develop and implement programs to evaluate and 8. Attending strategic meetings without voting rights.
improve the quality of Internal Audit.
4. Provide recommendations on audit results and Internal Audit Competency Development
monitor the follow-up of Internal Audit activities and The Company facilitates the implementation of
investigation activities. development programs for Internal Auditors to enhance
5. Assist the President Director and Board of employee competencies.
Commissioners in supervision by operationalizing
planning, implementation, and monitoring of audit This program is expected to have a positive impact
results. on the productivity and effectiveness of Internal
6. Coordinate activities with external audit and other Audit performance. Details regarding competency
assurance provider units/functions to achieve enhancement activities attended by the Head of Internal
comprehensive and optimal audit results. Audit Division throughout the year 2023 can be found in
7. Communicate directly with the Board of Directors, the Company Profile section of this annual report. Below
Board of Commissioners, and the Audit Committee. are the competency enhancement activities attended by
8. Conduct analysis and assessment in operational the Head of Division, Department Heads, Lead Auditors,
areas and other activities through audits. IT Audit Specialists, and Auditors.
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Training Type Name of Training Place Start PIC/Vendor
Digital Transformation & Implications on Universitas Universitas
Inhouse Training 21-Jun-23
Accounting & Finance Indonesia Indonesia
Inhouse Training NEOP Training Online 2-Mar-23 MTF
Inhouse Training NEOP Training Online 21-Sep-23 MTF
Inhouse Training Training Microsoft Excel Online 7-Aug-23 MTF
Public Training 2023 IIA Indonesia National Conference Batam 30-Aug-23 IIA
Awareness Training of Information Security
Public Training Management System based on ISO Online 20-Jan-23 MTF
27001:2022
Forum on Strengthening Governance and
Integrity of Financial Reporting & Practical
Public Training Yogyakarta 26-Sep-23 BUMN & FKSPI
Implementation of Risk Management and
Internal Audit in State Owned Enterprises
PT Andalan
Intiland Tower
Public Training Mastering ITIL v4 Fundamental 16-Nov-23 Teknologi
Jakarta
Inovasi
Public Training Sertifikasi Dasar Pembiayaan - Managerial Jakarta 17-Mar-23 SPPI
Training Bank Mandiri Audit Course Tahun
Public Training Mandiri University 30-Jan-23 Bank Mandiri
2023
Training of Internal Audit ISO 27001:2022 Crowe
Public Training Online 22-Feb-23
based on ISO 19011:2018 Indonesia
Public Training Workshop Pengamanan Malware Online 10-Mar-23 Bank Mandiri
Preparation of effective Audit Results
Internal Training Graha Mandiri Nov 2023 MTF
Reports
Internal Audit Meeting
Internal Audit, in carrying out its functions, both assurance and consulting, periodically attends meetings related
to Audit and investigation results. These meetings include discussions with relevant divisions in the Head Office
and internal committee meetings within the company, such as the Anti-Fraud Committee and Employee Discipline
Committee. During these meetings, matters related to follow-up and corrective actions based on audit and
investigation results are discussed, primarily to implement corrective actions and preventive measures to ensure the
Company’s internal controls function properly and to prevent the recurrence of deviations or negligence in the future.
- In addition, Internal Audit periodically presents audit and investigation results at Board Meetings, Audit Committee
Meetings, and Board of Commissioners Meetings to receive guidance and support from the Company.
Policies
Internal Audit has established policies/guidelines to support and fulfill its functions and responsibilities, namely:
1. Internal Audit Charter
2. Internal Audit Standard Operating Procedures (SOP)
3. Internal Audit Operational Technical Instructions (PTO)
4. Audit Information Technology (IT) Operational Technical Instructions (PTO)
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Meeting Frequency
Board of Directors Board of Commissioners Audit Committee
Number of Meeting 6 4 4
Brief Report on the Implementation of Internal Audit Tasks in 2023
No. Type of Audit Subject of Audit Object of Audit
Regional 1-9 Regional 1-9 Offices
Multiguna Branches: Palembang, Bekasi, Yogyakarta,
New Multiguna Branches
and Solo
Human Capital Human Capital Division & HC Learning Division
Marketing Division, Marketing Strategy Division, and
Sales & Marketing
Regional/Branch
Division Corporate Planning & Performance
Financing Fintech Channeling
Management Division
1 General Audit
Credit Operation Function Operation Support Management Division
Credit SPRINT Project Sprint vendor office in Malang
Collection Management and AR Retrieval AR Management Division
Cost Recovery & Litigation Division
Fleet Financing Divisi Corporate Fleet
Commercial Car Financing – MTF Palembang MTF Palembang Branch 1 & 2
Event Procurement Mandiri Liaison Division Mandiri Liaison Division
Financial Information Service System (SLIK) Credit Management Division Branch Sampling
Customer Complaint Service Customer Care Department Branch Sampling
Risk Management – Legal Risk Legal Division (New Division)
Mandatory Operation and Network Department (IT Division) DC &
2 Information Technology - Infrastructure
Audit DRC Branch Sampling
Information Technology - Application Digital Division HO
Planning and Security Department (IT Division) Branch
Information Technology - Security
Sampling
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Risk Management System
No. Type of Audit Subject of Audit Object of Audit
Vendor Management Operation and Support Division
Legal Division
Litigation/Legal Fee
Recovery and Litigation Division
3 Review Audit
Sales and Marketing Division
Management of Dealer Refund Funds
Accounting, Tax, and Financial Planning Division
Fraud Management Anti-fraud Work Unit
Reliable Risk Management Commitment
In carrying out its business activities, the Company is very aware of the various potential risks faced in the financing
industry. As aresult, the Company proactively manages risks in order to achieve healthy financing and operational
growth and encourage business continuity in accordance with the established risk appetite. Corporate risk management
is increasingly becoming a requirement, because its success is a key factor in achieving goals and winning the
competition. In business activities, the Company faces several inherent risks, namely:
1. Strategic Risk Strategic risk is the risk resulting from inaccuracy in making and/or implementing a strategic decision
and failure to anticipate changes in the business environment.
2. Operational Risk Operational risk is the risk due to inadequate and/or non-functioning internal processes, human
errors, system failures, and/or external events that affect the company’s operations.
3. Credit Risk Credit risk is the risk resulting from the failure of other parties to fulfill their obligations to the company.
4. Market Risk Market risk is the risk on the position of assets, liabilities, equity, and/or off-balance sheet including
derivative transactions due to overall changes in market conditions.
5. Liquidity Risk Liquidity risk is the risk resulting from the company’s inability to meet its maturing liabilities from
cash flow funding sources and/or from liquid assets that can be easily converted into cash, without disrupting the
company’s activities and financial condition.
6. Legal Risk Legal risk is the risk arising from lawsuits and/or weaknesses in legal aspects.
7. Compliance Risk Compliance risk is the risk due to the company not complying with and/or not implementing the
laws and regulations that apply to the company.
8. Reputation Risk Reputation risk is the risk due to a decrease in the level of stakeholder trust that originates from
a negative perception of the company.
The Formation of the Risk Management Division as the Company’s Risk Management
The Company established the Retail and Operational Risk Management Division and the Corporate Risk Management
Division to ensure that risk management is carried out in a measurable and systematic manner. A complete description
of the profile of the Risk Management function and the various risk management efforts that have been undertaken
can be found in the “Risk Management Function” section of this chapter.
Implementation of Risk Management System
Mandiri Tunas Finance In accordance with POJK NO. 44/POJK.05/2020 dated August 28, 2020 concerning Implementation
of Risk Management for Non-Bank Financial Services Institutions, the implementation of the Company’s risk
management is supported by 4 (four) important pillars as follows:
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RISK MANAGEMENT IMPLEMENTATION
1 2 3 4
Active supervision Adequacy of Risk
Adequacy of Risk Comprehensive
of the Board Management
identification, internal control
of Directors policies and
measurement, system
and Board of procedures and
control, and
Commissioners establishment of
monitoring processes
Risk limits
and Risk Management
Information System
PILLAR 1 2. Carry out active monitoring and risk mitigation;
ACTIVE SUPERVISION OF THE BOARD OF DIRECTORS AND 3. Prepare written and comprehensive Risk
THE BOARD OF COMMISSIONERS Management policies and strategies and evaluate
The Board of Commissioners carries out its oversight them periodically at least 1 (one) time per year and
function actively through the Audit Committee, Risk at any time in the event that there are factors that
Monitoring Committee and the Nomination and significantly affect business activities;
Remuneration Committee. Active supervision of the 4. Responsible for the implementation of Risk
Board of Directors is carried out through the Risk Management policies and Risk exposure taken by
Management Committee, Credit Committee, Asset and the Company as a whole, including evaluating and
Liabilities Committee (ALCO), Project Committee and providing direction based on reports submitted
Information Technology Steering Committee. by the Risk Management function and submitting
accountability reports to the Board of Commissioners
Duties, responsibilities and authorities of the Board on a regular basis;
of Commissioners related to active supervision of Risk 5. Evaluate and decide on transactions and risk limits
Management activities include: that require the approval of the Board of Directors;
1. Understand the risks inherent in the Company’s 6. Developing a Risk Management culture at all levels of
functional activities; the organization;
2. Evaluate and approve Risk Management policies 7. Ensuring increased competence of Human Resources
which are carried out at least once a year and at related to Risk Management, including through
any time in the event that there are factors that education and training programs, especially those
significantly affect business activities; related to Risk Management systems and processes;
3. Evaluate the Board of Directors regarding the 8. Ensuring and establishing clear duties and
implementation of Risk Management so that it is responsibilities in each work unit, where the Risk
in line with the Company’s established policies, Management function has operated independently,
strategies and procedures; reflected in the separation of functions between
4. Evaluate and decide on requests from the Board of the Risk Management work unit and the operational
Directors relating to transactions and risk limits that work unit;
require the approval of the Board of Commissioners. 9. Carry out periodic reviews to ensure the accuracy
of the Risk assessment methodology, the adequacy
Duties, responsibilities and authorities of the Board of the implementation of the Risk Management
of Directors related to active supervision of Risk information system, and the exactness of the Risk
Management activities include: Management policies and procedures as well as the
1. Understand the risks inherent in the Company’s setting of Risk limits.
functional activities;
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PILLAR 2 principle. The risk management information system may
ADEQUACY OF RISK MANAGEMENT POLICIES AND include information, such as: risk exposure, compliance
PROCEDURES AND DETERMINATION OF RISK LIMITS with Risk Management policies and procedures, actual
The Company develops policies related to risk implementation of Risk Management compared to set
management which are reviewed regularly and are targets, and then this information is submitted regularly
always adjusted to the latest business conditions. to the Board of Directors.
These policies are translated into Standard Operational
Procedures (SOP) and Operational Technical Guidelines PILLAR 4
(PTO) which are socialized to all employees. The COMPREHENSIVE ENTIRE INTERNAL CONTROL SYSTEM
Company has also set risk limits according to the level The Company carries out effective risk management
of risk to be taken (risk appetite), risk tolerance and practices in all work units by implementing a three line
the Company’s strategy as a whole by considering the of defense model’s policy with the following conditions:
ability of the Company’s capital to absorb risk exposure 1. Business units as the first line of defense are
or losses that arise. In the context of risk control, responsible for effective risk management, consistent
limits are used as thresholds to determine the level of implementation of risk management policies and
intensity of risk mitigation carried out by management. procedures, and effective internal controls.
The Company also has policies regarding approval/ 2. The Risk Management and Compliance Unit as the
authorization limits for financing transactions and non- second line of defense is responsible for developing
financial transactions. The Company’s receivables loss and monitoring overall risk management, overseeing
allowance policy is also in line with the reserve policy the implementation of policies and procedures
for the Parent Company which complies with regulatory carried out by business functions, and monitoring
provisions. overall corporate risk.
3. The Internal Audit Unit as the third line of defense
PILLAR 3 is responsible for reviewing and evaluating the
ADEQUACY OF RISK IDENTIFICATION, MEASUREMENT, design and implementation of risk management as
CONTROL AND MONITORING AND RISK MANAGEMENT well as evaluating the adequacy and effectiveness of
INFORMATION SYSTEMS overall risk management implementation, to ensure
The Company has tools to identify, measure, control that the first and second line of defense are running
and monitor risk on a regular basis. This tool is used effectively.
by the Risk Management function to provide input and
recommendations to the Board of Directors to ensure The internal control system in the application of
business activities can achieve the set targets. risk management includes, among other things, the
suitability of the internal control system and the
Risk identification is proactive, covers all of the application of risk management. The implementation
Company’s business activities and is carried out in order of risk management including the adequacy of policies,
to analyze the sources and possible risks and their procedures and management information systems is
impacts. The results of risk identification are translated constantly reviewed and reviewed periodically.
into risk parameters that will be measured periodically.
Furthermore, the Company conducts risk measurements Integrated Risk Management with Parent
on the risk parameters that have been determined, Entity
where the monitoring is carried out by a work unit that In addition, as a subsidiary of PT Bank Mandiri (Persero)
is independent from the work unit that owns the risk. Tbk, the Company also conducts Risk Consolidation
Based on the monitoring results, the Risk Management with the parent entity where this activity is proof of
function together with related work units provide compliance with Bank Indonesia Regulation No. 8/6/
recommendations to the Board of Directors. PBI/2006 dated January 30, 2006, and OJK Regulation No.
17/POJK.03/2014 dated November 19, 2014, concerning
In order to support the process of identifying, Implementation of Integrated Risk Management for
measuring, controlling and monitoring risks, the Financial Conglomerates. Through this compliance, the
Company has developed an information management implementation of the Company’s risk management is
system supported by competent Human Resources. an integrated and consistent approach in conducting a
The system was developed to support more efficient review, measurement, monitoring and risk management
risk management so that decisions can be made of all components of the Company group. The progress
more quickly while still referring to the precautionary of this consolidation has been regularly communicated
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Governance
by Bank Mandiri to regulators. Financing Policy
1. First Line, which is related to compliance with Bank The financing policy is documented in the Standard
Indonesia Regulation No. 8/6/ PBI/2006 concerning Operation Procedures (SOP). The company’s financing
Implementation of Consolidated Risk Management policy regulates that the financing process for debtors
for Banks Exercising Control of Subsidiaries. is carried out by independent parties to ensure the
2. Second Line, is an approach to the Company’s application of prudential principles.
internal needs as a whole which includes tools,
risk awareness, corporate governance, and risk Financing Approval
management information systems. In assessing credit applications, the Company
consistently adheres to regulations and prudential
Various forms of activities carried out in the context of principles, considering factors such as the ability to
risk consolidation include: repay, business prospects, and debtor performance.
• Annual Integrated Risk Conference (AIRC) between The Company has implemented mobile surveys to
the Parent Company and all Subsidiaries; enhance the quality of credit disbursement. The credit
• The Integrated Risk Committee (FIRC) forum which process and retail credit risk management are carried
is held with Bank Mandiri every quarter to discuss out through an end-to-end process integrated into the
the development of the Inherent Risk Profile and e-Star system. Decision-making in the retail segment is
the Quality of Implementation of Risk Management conducted through a credit scoring system. The credit
(KPMR) at MTF. scoring model undergoes periodic validation to ensure
• Application of the Risk Appetite Statement (RAS) its accuracy. To expedite the credit decision-making
together with Bank Mandiri as one of the Risk process, the Company has delegated credit approval
Management tools to measure the level of risk that authority to designated officials based on specific
is still acceptable to the Company in supporting its qualifications. Decision-making in the corporate fleet
business strategy. segment is conducted through circulars of Financing
• Implementation of Bank Mandiri’s integrated stress Analysis Notes and Financing Committee Meetings,
testing with its subsidiaries every quarter, using several depending on the requested financing facilities’ amount.
assumptions/scenarios as a form of anticipation of
company action in a bad business environment. The Company has also formulated a portfolio guideline
• Application of the scoring model developed by MTF and established industry limits as the foundation
and regularly reviewed by Bank Mandiri. for directing the growth of the Corporate Fleet
• Periodic monitoring of the company’s liquidation segment in 2024. The development of the Portfolio
conditions which are reported to the Parent Company. Guideline and Industry Limit is tailored to the current
• Risk Awareness Survey (RAWS) is conducted every macroeconomic conditions and the industry outlook
year to measure the development of risk awareness. for the upcoming year. This ensures that the Company
• Risk Based Bank Rating is carried out periodically accurately selects healthy industry developments with
to find out developments in corporate governance, low-risk levels while limiting the growth of industries
risk profile, capital capacity, and the company’s that are currently unhealthy with high-risk levels.
profitability level.
Types of Risks Faced and Their Monitoring Financing
In the corporate fleet segment, financing monitoring
Management and Mitigation is conducted using the Watchlist method, which is a
Out of the 8 inherent types of risks, there are 4 (four) standard, structured, and comprehensive method for
main risks faced by the Company, namely credit risk, monitoring the performance of corporate debtors.
operational risk, strategic risk, and liquidity risk. Monitoring is carried out periodically in collaboration
with the marketing unit as the account manager, the
The following is an elaboration of the inherent risks and credit unit, and the collection unit. Additionally, a
the management of these risks: Monthly Performance Review is conducted among the
business unit, credit unit, collection unit, and risk unit to
Credit Risk monitor and evaluate the performance of the Corporate
Credit risk arises from financing activities. The Fleet segment’s portfolio every month.
management of credit risk aims to measure, anticipate,
and minimize losses due to the failure of debtors to fulfill Retail credit monitoring is conducted at the portfolio
their obligations. level. Portfolio analysis is performed periodically
and documented in monthly reports submitted to the
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Board of Directors. The Risk Management function also parameters may change in line with the business growth
conducts regular monitoring of the quality of credit that occurs at MTF.
decisions made by authorized credit decision-makers
and provides recommendations to the Board based on MTF Loss Events Database (MLED)
this monitoring. The MLED database contains historical event data
(recorded by the date of the event, event description, and
As a preventive measure (early warning signal), factors causing the risk event) that can cause operational
simulation and stress testing processes are periodically losses or potential losses (both fraud and non-fraud).
conducted on the portfolio to assess changes in portfolio Recording of these events is done periodically by each
quality in response to macroeconomic changes. The risk-owning business unit.
results of stress testing provide guidance to the Board
for anticipating possible macroeconomic conditions. Control Testing (CT)
Control Testing is the evaluation of the effectiveness
Credit Collection and Recovery of controls over risks conducted by the risk-owning
The company has formulated policies for handling business unit, both on-desk and on-site. Control testing
collection and recovery based on product types is a crucial process that periodically assesses the
and debtor overdue days. Collection activities for adequacy of controls, identifies potential weaknesses,
problematic debtors are supported by an Automatic including risk mitigation, and establishes corrective
Collection System that is end-to-end, ensuring that the actions.
collection process aligns with applicable procedures. In
executing collection activities, employees responsible Issue and Action Management (IAM)
for the collection and collateral execution functions Issue and Action Management is the recording of follow-
hold professional certificates in the field of collections. up actions for the improvement of issues/conditions/
Additionally, employees are equipped with mobile non-compliance with procedures identified from
collection devices featuring Electronic Data Capture various sources (such as indications found during QA
(EDC) machines to ensure accountability in implementing implementation, results of control testing, incidents, or
the debt collection process. self-identified issues).
Operational Risk Business Continuity Management
Operational risk arises from the malfunctioning of To ensure the operational continuity of the Company
internal processes, human errors, system failures, or in emergency situations, the Company has prepared a
external factors affecting the Company’s operational policy that outlines the steps to be taken before, during,
activities. To manage and mitigate operational risk, the and after an emergency. This policy is regulated under
Company aligns its methodology with Risk-based Audit Business Continuity Management (BCM), which includes
through the maintenance of a risk library, provides the Business Continuity Plan (BCP), Disaster Recovery
a Whistleblowing System facility, and implements Plan (DRP), and Emergency Response Procedure (ERP),
Operational Risk Management Tools (ORM Tools). The as follows:
ORM Tools used are as follows: • Disaster Recovery Plan (DRP): DRP is a comprehensive
Quality Assurance (QA) plan outlining actions to be taken before, during, and
QA is a tool designed as an Early Detection System after an event that disrupts and causes a loss to the
(EDS) or early detection of fraudulent events that could information system. The goal of DRP is to ensure the
potentially harm the company. QA also serves as a post- smooth operation of the Company’s activities when
check audit conducted periodically through account issues arise in the information system by utilizing
checks by sampling and confirmation with debtors via prepared backup systems.
telephone and the PIC (Person In Charge) of the branch • Emergency Response Plan (ERP): ERP is a strategic
office (if necessary) to discover any discrepancies in planning strategy to anticipate and respond to
the implemented working procedures. emergency situations. It is mandatory and executed
by a special team responsible for rescue actions
Risk Control & Self Assessment (RCSA) during emergency situations.
RCSA is used to identify and assess inherent risks in • Business Continuity Plan (BCP): BCP is a planning
the activities of each business unit, as well as to assess strategy aimed at maintaining the operational
the quality of controls over risks implemented by continuity of the Company during disruptions
the business unit that owns the risk through Top Risk caused by natural or human-made disasters that
parameters of operational risks that occur. The risk have the potential to cause losses. BCP is designed
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Governance
to minimize the impact of disruptions and ensure Division have established parameters that are
the Company’s operations continue to run smoothly. periodically monitored. Compliance risk management is
also supported by the Compliance Management System
In the management of operational risks, each functional (CMS) to prevent the company from non-compliance
unit is responsible for managing inherent operational with internal and external provisions.
risks and plays a specific role in risk management. The
business unit, as the risk owner, serves as the first line of To manage market risk, the Company takes mitigating
defense. The Risk Management unit acts as a supporting measures such as setting transaction activity limits in
unit and functions as the second line of defense, while foreign currency and floating interest rates outlined in
Internal Audit serves as the third line of defense. This the Risk Appetite Statement, implementing full hedging
multi-layered approach ensures a comprehensive and of funding in foreign currency and floating interest rates,
effective risk management system within the company. and conducting stress testing to assess the impact of
extreme market conditions on the company’s exposure.
Strategy Risk Management
The management of strategy risks aims to anticipate In managing legal risk, the Company periodically
potential failures in achieving the Company’s objectives internalizes a legal risk culture through awareness
due to the infeasibility or failure in planning, setting, sessions for all employees conducted by the litigation
implementing strategies, and the failure to anticipate unit and the Risk Management team.
changes in business. In managing strategy risks, the
Company conducts performance reviews and evaluates For reputation risk management, particularly to
the formulation of business targets, as well as takes mitigate negative media coverage and/or rumors
corrective measures in line with risk appetite, considering about the Company, as well as to address ineffective
internal and external conditions. Additionally, periodic communication strategies, the company has established
monitoring is carried out on the achievement of the Corporate Communication unit and the Customer
financing targets, budget realization against budget Care unit.
plans, branch development realization, and human
resources fulfillment realization by related work units. Review of the Effectiveness of Risk Management
System
Liquidity Risk The risk management information system has been
The Risk Management Unit, together with related units, effective and continuously developed to ensure the
identifies, measures, controls, and monitors liquidity availability of accurate, complete, informative, timely,
risk with the aim of minimizing risks arising from the and reliable information. This enables the Board of
Company’s failure to provide funding at a specific Directors, Board of Commissioners, and relevant units
time. In managing liquidity risk, the Risk Management to assess, monitor, and mitigate the risks faced. The
Unit sets limit values for liquidity risk parameters assessment of the Company’s Risk Profile throughout
and periodically conducts stress testing on liquidity 2023 reflects that the risks can be managed effectively,
risk. Liquidity risk management is supported by the supporting further business development. In other
Asset & Liability Committee (ALCO) with the goal of words, Risk Management has been well and effectively
monitoring and projecting all maturing liabilities, implemented by MTF.
assets, and financing growth, both short-term and long-
term. Additionally, to maintain a source of funds, the Management Statement on the Adequacy of the
Company maintains relationships with banks, preserves Risk Management System
the quality of financing, and safeguards the company’s The Company’s Risk Management System is considered
reputation. to be effective and adequate. This is reflected in
the effectiveness of implementing risk management
Compliance, Market, Legal, and Reputation Risks functions, the availability of adequate and timely
In addition to credit, operational, strategic, and liquidity information covering risk exposure, compliance
risks, the Company ensures the effective management of with Risk Management policies and procedures, as
compliance, market, legal, and reputation risks. All risk well as information regarding the realization of the
parameters have been incorporated into the Company’s implementation of risk management against set targets.
Risk Appetite Statement (RAS) and are monitored The Company’s risk management information system is
regularly. In managing compliance risk, the Retail Risk also supported by high-quality human resources.
Management Division and Corporate Risk Management
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External Auditor/Public Accountant
Public accountants are external entities to the Company 6. Management approves the PAF’s working papers
that function to provide opinions regarding the on the Company for review by the relevant body or
appropriateness of the presentation of the Company’s authority.
financial statements in accordance with the prevailing 7. The audit is carried out based on the Professional
Financial Accounting Standards (SAK) in Indonesia. The Standards of Public Accountants published by the
presence of public accountants is regulated through Indonesian Institute of Accountants (IAPI). If there
OJK Regulation No. 13/POJK.03/2017 concerning the Use is financial assistance from the Government of the
of Public Accountant Services and Public Accountant Republic of Indonesia, the audit is conducted based
Offices in Financial Services Activities. on the State Financial Audit Standards (SPKN) issued
by the Supreme Audit Agency (BPK) of the Republic
Compliance with Indonesian Financial of Indonesia.
Accounting Standards
Management is responsible for the presentation of the Public Accountant Selection Criteria
Company’s financial statements and compliance with The Company establishes 4 (four) conditions or criteria
the prevailing Indonesian Financial Accounting Standards that must be met by a Public Accounting Firm (PAF) in its
(SAK) established by the Indonesian Institute of Accountants appointment procedures, as follows:
(IAI) and the Decision of the Chairman of the Capital Market • Registered with the Financial Services Authority
and Financial Institution Supervisory Agency (Bapepam- (OJK);
LK), which is now the Financial Services Authority (OJK) • A PAF that is part of the top 4 (four) groups in
No. VIII.G.7, Appendix to Decision Letter No. KEP-347/ Indonesia;
BL/2012, dated June 25, 2012, concerning Guidelines for • Has international affiliations;
the Presentation and Disclosure of Financial Statements • Has experience in auditing companies with the status
of Issuers or Public Companies. of issuers or public companies.
External Audit Procedures and Audit Mechanism of Appointment of Public
Standards Accountant
1. Audit of the Company’s financial statements is Stages of the mechanism for appointing a Public
conducted in accordance with the professional Accounting Firm (PAF):
standards of Public Accountants, covering all 1. The Board of Commissioners, through the Audit
audit procedures deemed necessary based on the Committee, initiates the selection process of
circumstances. potential external auditors by seeking assistance
2. The audit includes testing and evaluation of the from the Board of Directors in the appointment
internal control system, as well as examination, based process in accordance with the procurement of goods/
on testing, of evidence supporting the amounts and services regulations.
disclosures in the financial statements. The audit 2. The Board of Commissioners may reappoint external
also involves an assessment of the accounting auditors based on the evaluation results of the external
principles used and significant estimates made auditor’s performance in auditing financial statements.
by management, as well as an assessment of the 3. The Board of Commissioners presents the reasons for
overall presentation of the financial statements in the nomination to the General Meeting of Shareholders
accordance with the Financial Accounting Standards (RUPS) and the proposed honorarium/fee for the
(PSAK) issued by the IAI. services of the external auditor.
3. As part of the audit process, the Public Accounting 4. The proposal to the RUPS can be submitted through
Firm (PAF) also conducts inquiries with management a separate letter, which is part of the Board of
regarding the statements made by management in Commissioners’ response letter regarding the
the financial statements. Company’s annual performance.
4. The audit carries inherent risks that if there are 5. The Board of Commissioners evaluates the performance
material errors and irregularities. If such issues arise, of the external auditor through the Audit Committee in
the PAF will communicate them to management. accordance with applicable regulations and standards.
5. Management, in this case, the Board of Directors, 6. For the process of appointing potential external
assumes responsibility for the audited financial auditors and/or reappointing external auditors
statements by the PAF, in accordance with OJK conducted by the RUPS, the Board of Commissioners
Regulation No. 75/POJK.04/2017 regarding the merely grants authority to the RUPS to determine the
Responsibility of the Board of Directors for Financial auditor.
Statements.
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Determination of Public Accountant by GMS
The Board of Commissioners submits a recommendation letter to the GMS
The Board of Commissioners reviews the recommendations of the Audit Committee, conducts
discussions with the Board of Commissioners organs and prospective external auditors/Public Accountants
Audit Committee follow-up:
• Evaluate the implementation of internal and external audits
• Submit a report to the Board of Commissioners
Submission of directions and assignments from the Board of Commissioners to the Audit Committee
Appointment of Public Accounting Firm and Public Accountant for the Year 2023
In 2023, the Company has appointed the Public Accounting Firm Purwantono, Sungkoro & Surja (a member firm of Ernst
& Young Global Limited) to conduct the audit of the financial statements of PT MTF Tbk, as determined in the Annual
GMS on June 28, 2023.
Public Accounting Firm Public Accounting Firm Purwantono, Sungkoro & Surja (EY)
Registered Number STTD.KAP-03/PM.22/2018
Public Accountant Danil Setiadi Handaja, CPA
Registration Number AP.1008
Year of Audit 2023
Assignment Period 2023
Audit Service The Company's Financial Statements for the fiscal year ending on December 31, 2023.
Non-Audit Service/Others Accountant's Comfort Letter for the Issuance of Continuing Bonds VI
Fee Rp 2.097.900.000,-
Public Accounting Firm in 2020-2022
Name of Accounting
Year Public Accounting Firm Fee (Rp) Statement
Accountant Firm License
Public Accounting Firm STTD.KAP-03/
2022 Yovita 1.048.950.000 Fair in All Material Respects
Purwantoro, Sungkoro, and Surja PM.22/2018
Public Accounting Firm STTD.KAP-03/
2021 Yovita 998.000.000 Fair in All Material Respects
Purwantoro, Sungkoro, and Surja PM.22/2018
Public Accounting Firm STTD.KAP-03/
2020 Yovita 950.000.000 Fair in All Material Respects
Purwantoro, Sungkoro, and Surja PM.22/2018
Other Services Provided by KAP
In 2023, the Company appointed KAP Purwantono, Sungkoro & Surja for the issuance of the Accountant’s Comfort Letter
for Continuing Bonds VI. This service was agreed upon with a fee of Rp 965,700,000 (after tax) under SPK Number: 083/
SPK-PROC/MTF/III/2023.
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Internal Control System
The Internal Control System is an integrated process of This includes activities related to the organizational
continuous actions and activities carried out by leaders structure, including authority, authorization,
and employees to provide adequate assurance of verification, reconciliation, performance evaluation,
achieving the Company’s objectives. The implementation task allocation, and asset security.
of the internal control system begins with planning, 4. Information and communication systems, including
execution, supervision, and accountability in an orderly, activities related to presenting reports on the
controlled, efficient, and effective manner to provide Company’s activities and delivering them to
confidence that the Company’s activities have been relevant parties. This encompasses information
carried out efficiently and effectively. and communication on operational activities,
financial activities, and compliance with applicable
The objectives of implementing the Internal Control regulations.
System within the Company are as follows: 5. Monitoring, including activities or processes for
1. Safeguarding and securing the Company’s assets. assessing the quality of the internal control system,
2. Ensuring the availability of more accurate reports. including the quality of the Internal Audit function
3. Improving compliance with applicable regulations. and the quality of the units within the Company’s
4. Reducing the impact of losses from deviations, organizational structure. This ensures that the
including fraud, and violations of the prudence internal control system is optimally implemented,
principle. and any deviations are promptly reported to the
5. Enhancing organizational effectiveness and resource Board of Directors and Commissioners through the
efficiency. Audit Committee.
Implementation of the Internal Control Financial and Operational Controls
System within the Company The Company is committed to disclosing its financial
The Internal Control System is implemented starting reports to all stakeholders fairly and transparently based
from the establishment of objectives and strategies on the applicable accounting standards in Indonesia.
throughout the organization, identifying potential Therefore, the company consistently maintains an
events that may affect these objectives and strategies, internal control system that ensures the reliability and
and managing risks to stay within tolerance limits adequacy of each transaction.
(risk appetite) to provide adequate assurance for the
achievement of the Company’s goals. The framework for The presentation of financial statements (balance sheet,
the internal control system adopted by the Company is income statement, cash flow statement, statement of
the best practices framework practiced by companies changes in equity) for each fiscal year is done to meet the
worldwide, namely the COSO Internal Control Framework, interests of all parties related to the company. To fulfill
which includes components such as: all the principles above, the company has policies that
1. The internal control environment within the ensure transactions are recorded promptly, accurately,
Company, consisting of integrity, ethical values, and supported by adequate supporting documents.
and competence of the Commissioners, Board of
Directors, and all Company employees, the philosophy Transactions recorded in the accounting system have
and leadership style of management, including how received approval from authorized Management and are
authority and responsibility are executed, human recorded correctly. Every Company’s financial statement
resource organization and development, and the fairly and accurately represents the actual transactions
attention and guidance provided by the Board of without any attempt to conceal facts from the readers of
Commissioners and the Board of Directors. the report. All parties, including the Board of Directors,
2. Risk management, which includes the process of Commissioners, and employees responsible for these
identifying, analyzing, assessing, and mitigating functions, are obliged to understand and implement
or responding to risks relevant to the Company’s the policies of the internal control system and the
business areas. Company’s financial accounting procedures.
3. Control activities, including actions taken to
ensure that all processes in the Company are
controlled according to the established objectives.
2023 Annual Report | PT Mandiri Tunas Finance 245
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Good Corporate
Governance
To support comprehensive operational risk control, MTF Review of the Effectiveness of the Internal
has implemented the following: Control System
1. General control activities involve all employees and The Board of Directors is responsible for ensuring the
MTF Management at all organizational levels outlined implementation of a reliable and effective internal
in all policies and procedures such as: control system to achieve MTF’s objectives. The Board
• Implementation of Segregation of Duties, of Commissioners, assisted by the Audit Committee,
involving the separation of functions in is also responsible for overseeing the implementation
performing tasks to eliminate opportunities for of the internal control system at MTF. To evaluate the
deviations in task execution. adequacy and effectiveness of the internal control
system, monitoring and correction activities have
• Implementation of the Four Eyes Principles in been carried out throughout 2023, including:
the credit process for all segments; separation of 1. MTF continuously evaluates and monitors the overall
the credit initiator’s function from the decision- effectiveness of the internal control implementation,
maker. including if there are changes in internal and external
• Implementation of Line of Defenses for layered conditions that may affect the company in achieving
defense activities. its goals.
2. Control activities according to organizational 2. Monitoring is prioritized for key risks, including
functions include: periodic evaluations to detect and prevent the
• Implementation of Top Management Reviews: emergence of new risks, both by operational units,
Periodically, the Board requests explanations risk monitoring units, and internal audit.
(information) and operational performance reports 3. The Internal Audit Unit independently evaluates the
from the Head of the Work Unit to review realized adequacy and effectiveness of the internal control
results compared to set targets. system through audit activities. The results of the
• Functional Review: This review is carried out by evaluation and its follow-up are reported to the
Internal Audit on the adequacy and effectiveness Board of Commissioners, the Audit Committee, and
of the internal control system, risk management, the Board of Directors. The evaluation results for the
and corporate governance. Audit activities are year 2023 indicate that the Internal Control System at
conducted for each level of MTF Work Units and MTF has been functioning adequately.
reported to the CEO and the Audit Committee.
Management Statement on the Adequacy of the
Regarding compliance with applicable regulations, Internal Control System
MTF is committed to always complying with current Based on the results of the review and discussions
regulations by: with Management, the Audit Committee, Independent
1. Establishing a Compliance Unit responsible for Auditors, Internal Audit, and other relevant divisions,
monitoring compliance across MTF work units. the Board of Directors and the Board of Commissioners
2. Monitoring Compliance Reporting to BI/OJK/other assess that the company’s Internal Control System is
regulators. adequate in identifying risks so that the Company
3. The Compliance Risk Management strategy is to can manage these risks. MTF consistently takes
have policies to proactively comply with prevailing improvement measures to enhance the internal
regulations and to prevent (ex-ante) violations, control system.
minimizing the occurrence of violations, and taking
corrective actions (ex-post) for improvement.
246 2023 Annual Report | PT Mandiri Tunas Finance
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05
Important Case
Permasalahan dan/atau perkara hukum yang dihadapi Perseroan serta anggota Dewan Komisaris dan Direksi di
sepanjang tahun 2023 dan perbandingannya dengan tahun 2022 adalah sebagai berikut:
2023 2022
Law Issues
Civil Criminal Civil Criminal
Board of Commissioners and Board of Directors - - - -
Completed and has permanent legal force - - - -
In the settlement process - - - -
MTF
Completed and has permanent legal force 56 - 47 -
In the settlement process 26 - 10 -
Total 82 - 57 -
The following is an explanation regarding the legal cases faced by the Company throughout 2023:
Case Subject Risk faced by MTF
No. Litigant Case Status and Impacts towards
Material (Rp) Non-Material (Rp) MTF
The matter was resolved in 2023,
1 Achmad Fadilah 876.000.000 1.000.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
2 Lukman Hasan 262.804.000 100.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
3 Hasni Nurhamidin 149.814.000 - None
with MTF prevailing.
Perkara sudah diputus tahun 2023
4 Kasmiatun 184.500.000 1.300.000.000 None
dan MTF menang.
Wahyu Widiantoro
The matter was resolved in 2023,
5 (Debitur Saibatul 197.956.000 - None
with MTF prevailing.
Islamiati)
The matter was resolved in 2023,
6 Aten K. Mangopa 1.000.000 100.000.000 None
with MTF prevailing.
Muhammad Rizky The matter was resolved in 2023,
7 88.739.920 - None
Syahreza with MTF prevailing.
Edi Partomo The matter was resolved in 2023,
8 124.407.000 - None
Pandiangan with MTF prevailing.
The matter was resolved in 2023,
9 Santun Willfried 494.487.000 - None
with MTF prevailing.
Case in litigation process with
10 Stefanus Lu 1.158.894.000 - None
plaintiff's witness agenda.
PT Mulyo Joyo The matter was resolved in 2023,
11 614.925.000 - None
Bersama Marc with MTF prevailing.
The matter was resolved in 2023,
12 Masrul 93.244.000 100.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
13 Hasni Nurhamidin 149.814.000 - None
with MTF prevailing.
The matter was resolved in 2023,
14 Ngadino 259.500.000 - None
with MTF prevailing.
2023 Annual Report | PT Mandiri Tunas Finance 247
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Good Corporate
Governance
Case Subject Risk faced by MTF
No. Litigant Case Status and Impacts towards
Material (Rp) Non-Material (Rp) MTF
The matter was resolved in 2023,
15 Lukman Hasan 262.804.000 100.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
16 Khoirul Maulana 89.500.000 200.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
17 Ismail Amin 22.760.000 100.000.000 None
with MTF prevailing.
Yustina Sugiyanti
The matter was resolved in 2023,
18 (Debitur Yohanes 176.985.000 50.000.000 None
with MTF prevailing.
Dwi Pramudya)
Hijrawati, DKK
The matter was resolved in 2023,
19 (Debitur Moh. 55.302.000 - None
with MTF prevailing.
Jufri)
Lisyanti (Debitur The matter was resolved in 2023,
20 551.640.000 200.000.000 None
Alexander) with MTF prevailing.
The matter was resolved in 2023,
21 Ismail Amin 22.760.000 100.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
22 Ricky Lesmana 99.407.400 - None
with MTF prevailing.
23 Sulastri The matter was resolved in 2023,
- - None
Simanjuntak with MTF prevailing.
PT Cahaya Fitri The matter was resolved in 2023,
24 500.000.000 - None
Abadi with MTF prevailing.
Muttaqim Akbar
The matter was resolved in 2023,
25 (Debitur Erena 481.950.000 - None
with MTF prevailing.
Ramadhani)
Kartika Matters in the conference process
26 204.600.000 - None
Adiwinangun with Rejoinder agenda.
Enong Fatimahtu The matter was resolved in 2023,
27 25.000.000 - None
Zuhro with MTF prevailing.
The matter was resolved in 2023,
28 Tambari 100.000.000 - None
with MTF prevailing.
The matter was resolved in 2023,
29 Wildan 609.052.000 - None
with MTF prevailing.
Yustina Sugiyanti
The matter was resolved in 2023,
30 (Debitur Yohanes 176.985.000 50.000.000 None
with MTF prevailing.
Dwi Pramudya)
The matter was resolved in 2023,
31 H. Daeng Masoa 873.840.000 500.000.000.000 None
with MTF prevailing.
Bagus Santa The matter was resolved in 2023,
32 424.152.000 - None
Wardana with MTF prevailing.
PT Mitra Bersama The matter was resolved in 2023,
33 899.500.000 - None
Realty with MTF prevailing.
The matter was resolved in 2023,
34 Dewi Susanti 150.000.000 500.000.000 None
with MTF prevailing.
The matter was resolved in 2023,
35 Redi - - None
with MTF prevailing.
The matter was resolved in 2023,
36 Aten K. Mangopa 1.000.000 - None
with MTF prevailing.
248 2023 Annual Report | PT Mandiri Tunas Finance
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05
Case Subject Risk faced by MTF
No. Litigant Case Status and Impacts towards
Material (Rp) Non-Material (Rp) MTF
The matter was resolved in 2023,
37 Barokah 212.000.000 500.000.000 None
with MTF prevailing.
MTF has been declared victorious
Bagus Santa in the first-instance verdict and
38 424.152.000 - None
Wardana the appellate verdict. Currently
awaiting the cassation verdict.
The matter was resolved in 2023,
39 Saprudin 93.000.000 2.000.000.000 None
with MTF prevailing.
40
The matter was resolved in 2023,
Hasmia Husmain 4.000.000 100.000.000 None
with MTF prevailing.
PT Cahaya Fitri The matter was resolved in 2023,
41 500.000.000 - None
Abadi with MTF prevailing.
The matter was resolved in 2023,
42 Doni Susilo 509.600.000 - None
with MTF prevailing.
The case is in the trial process
Kukuh Heri
43 71.036.000 500.000.000 with a scheduled reading of the None
Jatmiko
verdict.
PT Mitra Bersama The matter was resolved in 2023,
44 899.500.000 - None
Realty with MTF prevailing.
MTF has been declared victorious
Muttaqim Akbar
in the first-instance verdict and
45 (Debitur Erena 481.950.000 - None
the appellate verdict. Currently
Ramadhani)
awaiting the cassation verdict.
Randy Sweetly The matter was resolved in 2023,
46 5.000.000 100.000.000 None
Walangare with MTF prevailing.
The case is in the trial process
47 Nasir 1.000.000.000 25.000.000 with a scheduled reading of the None
verdict.
PT Sumatera Jaya The matter was resolved in 2023,
48 327.000.000 - None
Mandiri with MTF prevailing.
Ade Ojoh
The case is in the trial process
49 Nurjanah (Debitur 82.261.719 38.896.000 None
with an interim judgment agenda.
Maman Budiman)
The matter was resolved in 2023,
50 Nurhasanah 154.236.240 - None
with MTF prevailing.
The case is in the trial process
Daffa Zalza Noor
51 158.150.000 2.000.000.000 with a scheduled reading of the None
Shidqi
verdict.
The case is in the trial process
52 Martin Hasiholan 113.848.000 - None
with a conclusion agenda.
The matter was resolved in 2023,
53 Aten K. Mangopa 10.000.000 100.000.000 None
with MTF prevailing.
Vina Chovan
Epifanis (Debitur The matter was resolved in 2023,
54 67.500.000 - None
Alvonsius with MTF prevailing.
Iskandar)
2023 Annual Report | PT Mandiri Tunas Finance 249
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Good Corporate
Governance
Case Subject Risk faced by MTF
No. Litigant Case Status and Impacts towards
Material (Rp) Non-Material (Rp) MTF
MTF emerged victorious in the
first-instance verdict and the
55 Wildan 609.052.000 - appellate verdict. Currently, it is None
undergoing case review at the
cassation level.
The matter was resolved in 2023,
56 Rasidah - - None
with MTF prevailing.
Subaeda Bin Mata There are no ongoing cases with
57 (Debitur Muh 128.160.000 70.000.000 scheduled testimonies from the None
Amzar) plaintiff.
Doni Susilo & There are no ongoing cases with
58 509.600.000 - None
Meylinda Rahayu scheduled responses.
The case is in the trial process
59 Muhammad Yusuf 362.600.000 2.000.000.000 with the agenda of reading the None
lawsuit.
The matter was resolved in 2023,
60 Renaldo Aridka 97.200.000 2.000.000.000 None
with MTF prevailing.
Lisyanti (Debitur The case is in the trial process
61 551.640.000 2.000.000.000 None
Alexander) with the agenda of replication.
MTF has been declared victorious
in the first-instance verdict and
62 Rasidah 142.600.000 - the appellate verdict. Currently, None
the case is under review at the
cassation level.
Samtua Sihite The case is awaiting a summons
63 (Debitur 1.033.436.000 - from the Court for the reading of None
Dermawati SPD) the lawsuit.
Mulyo Joyo The matter was resolved in 2023,
64 750.000.000 - None
Bersama Marc with MTF prevailing.
PT Indonesia The matter was resolved in 2023,
65 12.535.801.873 - None
Energi Dinamika with MTF prevailing.
The matter was resolved in 2023,
66 PT Polowijo Gosari 2.919.532.000 - None
with MTF prevailing.
PT Sumber Pangan The matter was resolved in 2023,
67 1.902.042.003 3.743.220.200 None
Slamet with MTF prevailing.
The debtor has been declared
bankrupt in a Suspension of Debt
PT Phos Tekno
68 848.402.100 - Payment (PKPU) case, and is None
Indonesia
currently in bankruptcy
proceedings.
Verification of bills has been
conducted, and the case is
69 PT Visi Eka Mulia 966.819.600 - currently in the process of None
liquidating bankruptcy estate
assets.
The settlement proposal was
70 PT Polowijo Gosari 915.059.000 - approved in 2023, and the debtor None
has made the payment to MTF.
The billing verification agenda has
PT Labuan Mandiri been completed, and the case is
71 121.754.000 - None
Jaya currently in the process of
liquidating bankrupt estate assets.
250 2023 Annual Report | PT Mandiri Tunas Finance
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05
Case Subject Risk faced by MTF
No. Litigant Case Status and Impacts towards
Material (Rp) Non-Material (Rp) MTF
PT Sumber Pangan The case was concluded in 2023,
72 1.902.042.002 3.743.220.200 None
Slamet with no ruling unfavorable to MTF.
The billing verification agenda has
PT Sakti Mait Jaya been conducted, and currently,
73 825.480.000 179.772.200 None
Langit the process is in the bankruptcy
estate settlement phase.
The amicable settlement proposal
was approved in 2023, and the
Bowo Heli
74 144.879.800 - debtor has affirmed their None
Sartanto
commitment to continue making
payments to MTF.
The case was resolved in 2023, and
the debtor remains obligated to
75 Mario Soebono 1.563.836.500 - None
fulfill their obligations according
to the Financing Agreement.
The case was concluded in 2023
PT Sarana Cipta
76 2.525.395.944 2.301.598.800 with no rulings that adversely None
Unggul
affected MTF.
A Meeting of the Creditors'
Deliberation Assembly has been
77 PT Bias Nusatama 2.013.738.800 - None
held, and the PKPU period has
been set for 90 days.
The case is in the PKPU process
with a decision to extend the
PKPU period for an additional 90
78 PT Bias Nusatama 7.445.155.456 369.186.834 None
days until the next Creditors'
Deliberation Assembly scheduled
for April 3, 2024
A Creditors' Deliberation Assembly
PT Saeti Centricon
79 4.712.600 - has been held, with a decision to None
Wahana
set the PKPU period for 60 days
A Bill Verification session has
Bowo Heli been conducted, and currently,
80 144.879.800 - None
Sartanto the case is in the process of
bankruptcy estate settlement.
The Bankruptcy Claims Verification
has been completed, and
PT Phos Tekno
81 769.269.000 79.133.100 currently, the case is in the None
Indonesia
process of bankruptcy estate
settlement.
PT Vision Land
The Claims Verification has been
82 Semarang (Debitur 863.414.000 - None
completed.
Lee Don Hee)
Administrative Sanction
In 2023, the Company received administrative sanctions from the regulator. In response, the Company has fulfilled
the obligations required by the regulator’s sanctions and has also implemented risk mitigation measures to prevent
similar violations from occurring in the future.
2023 Annual Report | PT Mandiri Tunas Finance 251
Page 252
Good Corporate
Governance
Information Technology Governance
The existence of reliable information technology is crucial to support business processes and excellent services.
Technology is a key element that enables the company to provide products and services to consumers, measure
and track business performance, and make appropriate management decisions for its sustainability. Information
Technology Management in the company is carried out by the Information Technology Division (IT), so that IT-related
policies are more focused and aligned with the Company’s vision and mission.
Basis of IT Management
In the future, it is expected that the company’s IT governance will already achieve the average maturity level of the
Financing industry, based on the COBIT5 maturity level measurement scale. To achieve this condition, in general, IT
must take corrective measures, including but not limited to:
1. Addition and improvement of functions/tasks.
2. Development of policies and procedures.
3. Development of performance measures.
4. Procurement of relevant supporting application systems.
5. Evaluation of IT Governance.
Information Technology Development Roadmap
2021 2022 2023
Maintain Continuous Digital Growth Strengthen Digital Foundations Integrate Digital Ecosystem
• Optimizing the paperless principle • Conducting Business Process • Development of mobile
by reducing the use of paper or Reengineering. applications such as MTF Mobile
manual documentation through • Development and Implementation and MTF1ACCESS.
the digitization of business of Credit Acquisition System. • Optimization of cloud usage in
process documentation/workflow. • Assessment and Implementation HCEazy, MTF1ACCESS, and MTF
• Improving the collection process of Data Governance. Mobile.
through collaboration with • Development of existing • ISO certification.
external parties providing land applications to support the
and parking facilities. digitization process.
• Information security aspects to • Enhancement of technology and
enhance optimization and speed services security.
up disaster recovery and • Optimization of Cloud usage to
information security disruptions expedite the digitization process.
in the company's IT environment. • Information security assessment
• Implementation of controls for in preparation for ISO 27001
data protection based on the certification.
framework from the previous year.
Formation of the Information Technology Division as the IT Management Division
MTF acts as a business enabler in providing services to users to carry out their operational activities and supports the
company’s business development. This division also continuously develops facilities that can facilitate customers in
connecting with MTF. As a supporter of the company’s business in providing its services, MTF’s IT Division is divided
into several departments according to the following organizational structure:
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05
IT Management Structure of Mandiri Tunas Finance
SALES & IT DIRECTOR
INFORMATION TECHNOLOGY DIVISION HEAD
IT SOFTWARE IT OPERATION & IT BUSINESS IT PLANNING &
IT SECURITY
DEVELOPMENT NETWORK SOLUTION APPLICATION POLICY
DEPT. HEAD
DEPT. HEAD DEPT. HEAD DEPT. HEAD DEPT. HEAD
The Company’s IT Division is led by a Division Head. Based on Decree No. 1234/SK-HCP.SVC/HC/VII/2016, the Board of
Directors appointed Kanda Octaviano to serve as Head of IT Division.
Name Kanda Octaviano
Position Head of IT DIvision
Legal Basis of Appointment Decree No. 1234/SK-HCP.SVC/ HC/ VII/2016
Age 42 Years Old
Nationality Indonesian
Domicile East Jakarta
Educational Background Bachelor of Accounting Economics from STIE Indonesia (2006)
Acting Head of IT Division (2016-2017), IT Software Development Departement (2016), IT
Work Experience Software Development Dept Head (2013-2016), IT Software Development Departement (2010-
2012), IT Supervisor (2007-2009), SOP & Control SPV (2005-2007)
Within the Company: None
Concurrent Position
Outside the Company: None
IT Division Duties and Responsibilities
1. Coordinating, planning and controlling IT projects in order to meet the operational needs of computerbased
companies.
2. Planning and coordinating the maintenance of IT resources in order to provide support for IT devices and systems.
3. Planning, directing, coordinating and approving work plans at the departmental level, as well as monitoring and
evaluating implementation and coordinating the reporting.
4. Directing, coordinating the security of all IT devices including all program code from existing applications in the
Company.
5. Planning and coordinating IT operational activities in accordance with the service level agreements.
6. Monitoring and controlling procurement activities and infrastructure maintenance at branches & Head Office.
2023 Annual Report | PT Mandiri Tunas Finance 253
Page 254
Good Corporate
Governance
Information Technology Development
To enhance its services, the Company consistently undertakes integrated IT development to support its performance,
as detailed in the attached document.
Current Infrastructure Topology
DC & DRC DUAL LINK CABANG
PABX CCTV PC & LAPTOP MOBILE DEVICE
WINDOWS BASED ANDROID BASED
The Company has an integrated system, among other things, which is supported by a mobile application for the
digitalization process so that it can speed up the customer credit process.
Accounting System
Mobile Collections System HC-EAZY
Mobile Report Human Capital System
Mobile Survey Document Management System
Mobile Marketing Document Gateway System
Channelling System
Development of Information Technology Centers to enhance server security at the DC and
Management DRC.
Throughout the year 2023, the Company has undertaken • Email Security Gateway Upgrade
several Information Technology management programs The IT Division upgraded the email system’s security
as follows: by replacing the Email Security Gateway with
1. System Security Enhancement technology that provides better security, replacing
The Company has enhanced system security by devices that have reached the End Of Support.
implementing several security tools initiatives as • Internet Access Management Upgrade
follows: The IT Division replaced the Internet Access
• Firewall Layer Implementation Management on devices that have reached End
The Company implemented firewalls in both Data Of Support.
254 2023 Annual Report | PT Mandiri Tunas Finance
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05
• Addition of Web Application Firewall (WAF) The IT Division added Storage capacities to
Licenses support the Company’s business growth. The IT
In this year, the Company added WAF licenses Division also upgraded servers that have reached
in accordance with the addition of applications the end of support.
accessed through the internet. The Web Application • NAS Device Replacement
Firewall serves to protect the Company’s web-based The IT Division replaced end-of-support NAS
applications from external attacks. devices in branches.
• Addition of Network Access Control (NAC) Licenses
In this year, the Company added NAC licenses in 3. Cloud Optimization
accordance with the addition of Endpoint devices • MTF optimized the use of cloud for the following
in the Company. This tool functions to monitor and applications:
control the Company’s network, providing security ◊ HCEazy
layers to prevent unauthorized access by unknown ◊ MTF1ACCESS
devices. ◊ MTF Mobile
• Addition of Data Loss Prevention (DLP) Licenses
In this year, the Company added DLP licenses in 4. IT Governance Enhancement
accordance with the addition of Endpoint devices • Review of Standard Operating Procedures (SOP)
in the Company. This tool functions to monitor, and Operational Technical Guidelines (OTG) by the
detect, and stop abnormal sensitive data flows and IT Division in 2023.
potential data leaks. • In this year, the Company underwent an audit based
on ISO standards to enhance IT governance.
With this system in place, the Company can prevent • In enhancing human data capacity, the IT Division
and avoid data leakage and misuse by irresponsible conducted regular training and knowledge sharing
parties. in each department. This was done to ensure that
each IT Division personnel has good skills and can
2. System and Storage Capacity Maintenance: support operations optimally.
On the infrastructure side, the Company also
upgraded Server and Storage capacities to support Costs of Information Technology Development
the Company’s business development. Increased The determination of the IT Opex and Capex budget is
lending and account management capacities based on operational needs and the requirements for
certainly require reliable system and network acquiring IT infrastructure in line with recommendations.
capacity support. Therefore, in 2023, the IT Division This process involves a thorough review by the company’s
conducted maintenance and capacity upgrades for management. Below is a comparison of the IT investment
Systems and Networks as follows: costs incurred by the company in the year 2023.
• Addition of Server and Storage Capacities
TI Investement in 2023
Subject Amount (Rp)
Server 6.775.998.101
Network 5.133.825.965
Security 18.619.169.212
Software/License 4.275.743.199
Certification 80.089.451
TI Investment Total Comparation 2022-2023
Realization (Rp-million) Realization
Budget Usage
2023 Budget Comparation 2023
2023 2022 2023
& 2022
TI Investment Amount 39,679 36.340 41,577 9% 95,4%
2023 Annual Report | PT Mandiri Tunas Finance 255
Page 256
Good Corporate
Governance
Code of Conducts
The Code of Conduct is an articulative framework with reward and punishment mechanisms designed to support
the implementation of the company’s vision, mission, core values, and culture. The discipline within the company is
outlined in the Corporate Regulations, which explains the obligations and rights of employees, actions considered
violations, the corresponding sanctions, and the authorities responsible for imposing sanctions. This Code of Ethics
serves as a standard behavioral guide for all individuals within MTF in their interactions with both internal and external
parties.
The Company periodically evaluates the effectiveness of the Code of Conduct, and organizes socialization programs to
remind and emphasize the application of the Code of Conduct for employees.
Harmonious Relationships with Stakeholders
One of the significant objectives of implementing Good Corporate Governance (GCG) principles is the development
of the business entity’s relationships with stakeholders. The Company formulates its Code of Conduct to build
harmonious relationships between the operational and business interests of the Company and the interests of each
stakeholder within and impacted by the Company’s operations and business activities.
Mandiri Tunas Finance Stakeholders
GOVERNMENT/ BUSINESS
EMPLOYEE SHAREHOLDERS CONSUMER
REGULATOR PARTNER
COMMUNITY &
CREDITOR SUPPLIER COMPETITOR MASS MEDIA
SURROUNDING
Vision, Mission, as well as Corporate Values and Culture as Commander in Chief
The Company has formulated and established its vision and mission as the Commander in Chief in directing the
Company’s future development. The vision and mission are then translated into Corporate Values and Culture which
are expected to be understood as the Company’s fundamental policy to develop an organization that is in line with
the vision and mission that has been set.
Vision & Mission Corporate Value Standard Guideline of
and Culture Code of Conduct
256 2023 Annual Report | PT Mandiri Tunas Finance
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05
Code of Conduct Determination and 4. In the long term, encouraging the improvement of the
Content customer service quality, the Company management,
The Company has established Code of Ethics or Code of the Company value development and ultimately
Conduct (CoC) on March 11, 2013, and the main contents leading to an increase in the Company’s reputation.
of the Company’s Code of Conduct are as follows:
Chapter I – Introduction Code of Conduct Implementation for All
• Background Organizational Levels
• Purpose and Objectives The implementation of the Company’s Ethical Standards
• Benefits Guidelines for Code of Conduct is the responsibility
Chapter II – Business Ethics of all MTF personnels, including employees, Board of
• Scope Directors, Board of Commissioners and all supporting
• Business Ethics and Company Commitment to organs to behave in accordance with the Company’s
Stakeholders culture so that professional, responsible, reasonable,
Chapter III – Work Ethics proper and trustworthy behavior in conducting business
• Scope relationships with co-workers as well as work partners
• Individual Basic Attitudes – PERWIRA Main Behavior is manifested.
• Individual Behavior Inside and Outside the Company
• Behavior as a Superior Code of Conduct Socialization and
• Behavior as a Subordinate Internalization
• Commitment to Specific Matters The Company’s Code of Conduct is introduced to
Chapter IV – Enforcement and Implementation of Ethical all levels within the Company and is written in an
Standards of Conduct additional document of the employment contract
• Monitoring the Implementation of the Standards of during the recruitment process of new employees and
Ethical Behavior for employees who have joined the Company, where
• Reporting Violations of Ethical Standards Behavior the Code of Conduct must be understood and signed
• Sanctions for Violations of the Code of Conduct by all employees. Furthermore, all employees are
Chapter V – Closing expected to behave in accordance with the Company’s
values and apply the Code of Conduct in their daily
Benefits and Objectives of Implementa- activities. Socialization and internalization are the
tion of Code of Conduct important phases of the Employee Code of Conduct
The Company strives to consistently implement the Code implementation. The Company is committed to
of Conduct in order to provide long-term benefits to implementing socialization effectively and thoroughly
Shareholders, the Company, the Board of Commissioners with the following steps:
and Board of Directors as well as employees, customers, 1. Socializing the Code of Conduct to all levels of the
business partners and the community. The objectives of Company and refreshing it continuously through:
implementing this Code of Conduct are as follows: a. Company’s website
1. As a joint commitment to realize the vision and b. Administrator’s email that is sent to all employees
implement the mission professionally and ethically c. At the time of signing the company regulations,
by considering the stakeholders’ interests, therefore, d. As well as other media available in the Company.
ultimately realizing maximum work standard to all 2. Evaluating the understanding of the Company’s ranks,
individuals and referring to the prevailing regulations during the orientation period and the employment
for the Company. period.
2. Minimizing all risks that cause conflicts of interest and 3. Periodically reviewing the points of the Code of
lawsuits or litigation due to negligence committed by Conduct for further development and improvement.
individuals within the Company. In the event of more detailed regulations are needed,
3. As a means to create harmonious, synergistic it will be prepared in the Company’s policies and
and mutually beneficial relationships among the regulations.
Company’s stakeholders.
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Good Corporate
Governance
Sanctions for Violations
Violations of the Company regulations and the code of conduct committed by employees may be subject to sanctions:
Sanctions Term of Sanction Total Sanction 2023 Total Sanction 2022
Writte Repremaind 3 (tiga) months 13 10
First Warning Letter 6 (enam) months 185 81
Second Warning Letter 6 (enam) months 23 47
Third Warning Letter 6 (enam) months 16 29
First and Last Warning Letter 6 (enam ) months 28 -
Termination of Employment Relation (PHK) - 29 46
The type of violation that is allegedly as criminal offense will be legally processed through the authorities.
Gratification Control
The Company strives to avoid gratification practice in carrying out its business activities. Gratification itself has the
potential to affect the independence of the performance of Company organs so that it has negative impacts on the
Company. Therefore, in order to maintain business relationships with stakeholders, the Company regulates matters
related to gratification and procedures or mechanisms for reporting that have been prepared.
In 2020, the Company had consistently made improvements in terms of control, one of which was for gratification control,
by establishing a Gratification Control Unit along with the issuance of standard operating procedures for gratification
control and anti-fraud strategy as stipulated in Gratification Guidelines no. Gratification Control 03/PGN/10/2018 and
had been effective since September 17, 2018 and had gone through improvements/revisions on November 15, 2019
and September 1, 2020 which was approved by the Company’s Directors. The standard operating procedure regulates
the definition of gratification, nature of gratification, gratification criteria, principles of gratification control, providing
and accepting gratification within the Company, reporting of rejection of gratification, reporting of acceptance of
gratification, and handling of gratification reports.
In 2023, the Company continued to socialize the Anti Gratification Policy to all MTF personnels, which was routinely
carried out at the Company’s Head Office.
Anti-corruption Policy
The Board of Commissioners, Board of Directors and all employees always uphold fair competition, the values of
sportsmanship and professionalism, as well as GCG principles. The Company is also committed to creating a healthy
business climate, avoiding actions, behaviors or deeds that can lead to conflicts of interest, Corruption, Collusion
and Nepotism (KKN) and always prioritizing the interests of the Company above personal, family, group or class
interests. The Company also always pays attention to policies regarding anti-corruption as written in Law No. 20 of
2001 concerning Amendments to Law No. 31 of 1999 concerning the Eradication of Corruption Crimes.
The Company is committed to carrying out business activities with an anti-corruption spirit, namely distancing itself
from the behavior of Corruption, Collusion and Nepotism which is embedded in the minds of all MTF personnels.
Therefore, MTF always upholds fair competition, sportsmanship and professionalism, as well as GCG principles so that
to encourage the creation of fair business competition.
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This commitment is the reflection of the implementation of applicable laws and regulations such as:
1. Law No. 8 of 2010 on the Prevention and Eradication of Money Laundering Crimes, and
2. Law No. 20 of 2001 on Amendments to Law Number 31 of 1999 concerning Eradication of Corruption Crimes
Gratification Policy
MTF strives to avoid gratification practices in carrying out its business activities. Gratification itself has the potential
to affect the independence of the performance of Company’s organs so that it has negative impact on the Company.
Therefore, in order to maintain business relations with stakeholders, the Company regulates matters related to
gratification and the procedures or mechanisms for reporting that have been prepared.
Anti Corruption Training/Socialization to Employees
In addressing the practice of corruption, MTF has implemented a socialization program related to raising awareness
about Fraud, corruption, and gratification actions among all employees regularly throughout the year 2023.
No. Time Place Participant Note
Anti-Fraud Awareness and
1 February 23, 2023 MTF Head Office Supervisor Development Program Batch 16
Gratification Socialization
Anti-Fraud Awareness and
2 March 6, 2023 MTF Head Office Management Trainee MTF Batch 15
Gratification Socialization
Anti-Fraud Awareness and
3 March 9, 2023 MTF Head Office Manager Development Program Batch 15
Gratification Socialization
Employees of MTF Branches in Surabaya 1, Anti-Fraud Awareness and
4 March 27, 2023 Virtual - Regional 7
Surabaya 2, Mojokerto & Tuban Gratification Socialization
Employees of MTF Branches in Padang and Anti-Fraud Awareness and
5 May 17, 2023 Virtual - Regional 2
Pangkal Pinang Gratification Socialization
Anti-Fraud Awareness and
6 May 24, 2023 Virtual - Regional 7 Employees of MTF Malang Branch
Gratification Socialization
Anti-Fraud Awareness and
7 June 5, 2023 Virtual - Regional 7 Employees of MTF Kupang and Madiun Branch
Gratification Socialization
Anti-Fraud Awareness and
8 June 6, 2023 Virtual - Regional 7 Employees of MTF Mataram Branch
Gratification Socialization
Anti-Fraud Awareness and
9 June 20, 2023 Kantor - Regional 3 Employees of MTF Kebon Jeruk Branch
Gratification Socialization
Anti-Fraud Awareness and
10 June 21, 2023 Kantor - Regional 3 Employees of MTF Kelapa Gading Branch
Gratification Socialization
Anti-Fraud Awareness and
11 July 20, 2023 Kantor - Duren Tiga 4 Employees of MTF Duren Tiga 2 Branch
Gratification Socialization
Anti-Fraud Awareness and
12 August 4, 2023 MTF Head Office Management Trainee MTF Batch 16
Gratification Socialization
Anti-Fraud Awareness and
13 August 23, 2023 Virtual - Regional 4 Employees of MTF Cibubur and Depok Branch
Gratification Socialization
September 7, Employees of MTF Kemayoran Multiguna, Anti-Fraud Awareness and
14 Virtual - Regional 3 dan 7
2023 Tanjung Duren and Banyuwangi Branch Gratification Socialization
September 8, Anti-Fraud Awareness and
15 Bogor MTF Office Employees of MTF Bogor Branch
2023 Gratification Socialization
Virtual Regional 1,2,3, HC, Culture Summit for Leaders
Legal, Corporate Audit, Branch Head, Regional Head, Dept Head, Batch 1 (Anti-Fraud
16 October 3, 2023
Corporate Secretary, Risk and Division Head Awareness & Gratification
Management & Credit Socialization)
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Good Corporate
Governance
No. Time Place Participant Note
Virtual Regional 4,5,6,
Culture Summit for
Finance, CPM dan Mandiri
Branch Head, Regional Head, Dept Head, Leaders Batch 2 (Anti-
17 October 5, 2023 Liaison, IT, Digital, AR &
and Division Head Fraud Awareness &
Recorvery, Corporate
Gratification Socialization)
Fleet, dan Fleet AR
Employees of MTF Yogyakarta, Purwokerto, Anti-Fraud Awareness and
18 October 11, 2023 Virtual - Regional 6&7
and Gianyar Branch Gratification Socialization
Culture Summit for
Virtual Regional 7,8,9,
Branch Head, Regional Head, Dept Head, Leaders Batch 3 (Anti-
19 October 17, 2023 Operation, Sales &
and Division Head Fraud Awareness &
Distribution, Marketing
Gratification Socialization)
Employees of MTF Kemayoran Multiguna, Anti-Fraud Awareness and
20 December 7, 2023 Virtual - Regional 4&5
Lebak Bulus, and Karawang Branch Gratification Socialization
Whistleblowing System
The Violation Reporting System or Whistleblowing Establishment of Guidelines for Mandiri
System (WBS) is the Company’s effort to support the Tunas Finance Violation Reporting System
implementation of good corporate governance in The Company’s violation reporting system is regulated
preventing fraudulent activities by reporting incidents based on a letter from the CEO with the number 063/
of misconduct. It aims to promote a culture of honesty MTF-DIR/VII/2011 dated July 20, 2011. In that letter,
and transparency. The implementation of WBS is the Company’s CEO urges all employees to have a
beneficial for developing a well-managed violation sense of ownership in line with the PERWIRA Culture,
reporting system, serving as a foundation for the encouraging them to actively play a role together
Company to design necessary evaluations and follow- in preventing, detecting, and anticipating fraud or
up actions. WBS is also a part of the early warning violations within the Company.
system for detecting potential issues arising from a
violation. For whistleblowers, WBS ensures protection Scope of Violation Complaints Through MTF
and confidentiality of their identity. Violation Reporting System
Violations that can be reported through the Company’s
The Whistleblowing System is integral to the Anti- WBS mechanism include:
Corruption Mechanism of PT Mandiri Tunas Finance. 1. Allegations or indications of procedural violations
In upholding regulations, work ethics, business 2. Fraudulent activities (fraud)
principles, and the Company’s values, feedback from 3. Unlawful acts or other unethical actions that harm
both management and whistleblowers is encouraged. the Company’s finances or reputation.
This allows the community or whistleblowers to report
alleged violations of good corporate governance Complaint Channels
principles and applicable ethical values based on Reports can be submitted through communication
accountable evidence, with the genuine intention of channels to the designated working unit for easy
benefiting the Company. The whistleblower’s identity follow-up by the committee, which is a part of several
is kept confidential, and reports can be submitted designated units responsible for determining the follow-
anonymously. up actions and providing feedback to the whistleblower.
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Reports can be submitted through: Protection for Whistleblowers
• Website: www.mtf.co.id/id/whistle-blower The Company ensures confidentiality and protection
• Email: halo.perwira@mtf.co.id for whistleblowers throughout the process of each
• Anti-Fraud Call Center: 081110678057 complaint report, always prioritizing confidentiality
• Written correspondence addressed to the Corporate and the presumption of innocence in a professional
Secretary at: Graha Mandiri, 3rd Floor Jl. Imam Bonjol manner. The Company guarantees the confidentiality
61 Central Jakarta of the whistleblower’s identity and provides
protection against any form of threats, intimidation,
Complaint Management Party or unpleasant actions from any party, as long as the
Pelaporan yang masuk dalam whistleblower akan whistleblower can maintain the confidentiality of the
dikelola secara langsung oleh Sekretaris Perusahaan. reported case.
Setiap laporan akan diproses secara independen dan
akan dilakukan penelusuran kebenaran informasi yang This protection also extends to individuals
diberikan. appointed by the Company to conduct investigations,
verifications, and those providing information related
Mechanism of Submission and Handling to the complaint or disclosure of deviation facts.
of Complaints through the Violation
Reporting System Awards and Sanctions
Role of the Board of Commissioners in the Company’s The form of sanctions against the reported party
WBS system: proven to have committed a violation is determined
1. Overseeing and being responsible for the policies in accordance with the provisions and regulations
and management of the Company in accordance applicable within the Company. The Company also
with the established vision and mission, based on imposes sanctions for reporting violations that do not
compliance with applicable laws and regulations. align with the intended purpose and objectives of this
This includes, but is not limited to, regulations policy, such as defamation or false reporting.
related to the implementation of Good Corporate
Governance, the Limited Liability Company Law, and Moreover, rewards are granted to the whistleblower if
regulations of the Financial Services Authority. the reported case is proven to be true, and the Company
2. Ensuring that the Board of Directors follows up experiences positive impacts from the report. The type
on audit findings and recommendations from and amount of rewards are regulated by the Board of
the Internal Audit Division, external auditors, OJK Directors’ policy, which is an integral document of the
(Financial Services Authority) inspections, and/or WBS policy..
inspections by other authorities.
3. Ensuring that the relevant department reports to the Outcome of Complaint Handling in 2023
Financial Services Authority (OJK) no later than 10 The number of complaints received and processed in
calendar days from the discovery of violations of laws the year 2023, along with the follow-up actions on the
and regulations in the financing sector, including an complaints, are as follows:
estimate of the circumstances that could endanger
the Company’s business continuity.
Whistleblowing Report Status Number in 2023
Received Report 19
Fraud Indication 9
Not Indicated a Fraud 10
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Governance
Information on Funding for Political Activities
The Company has a policy prohibiting individuals on behalf of the company from engaging in political activities,
including making donations for political purposes. The company explicitly forbids individuals affiliated with MTF from
using any facilities or resources for political campaign purposes, fundraising for political causes, or any form of
political participation. This prohibition is outlined in the Corporate Code of Conduct.
Instead, a strong commitment to social and community issues is considered an integral part of the Company’s duties
and responsibilities to society. This commitment is realized through Corporate Social Responsibility (CSR) programs.
A more detailed explanation of the CSR programs and activities carried out by the company throughout 2023 can be
found in the Corporate Sustainability Report, an inseparable document from this Annual Report.
Goods and Services Procurement Policy
Basic Principles and Provisions for the Procurement of Goods and Services within
the Company
In conducting procurement of goods and services, the Company implements efficiency, accountability and transparency.
The legal basis for the implementation of goods and services procurement refers to the regulations of the Company’s
Standards Operational Procedure regarding the Procurement of Goods and Services. Therefore, the procurement of
goods and services is carried out carefully starting from planning, procurement, selection of goods and services
providers, as well as supervising the implementation of procurement by considering the following aspects:
1. Being Efficient, means that the procurement of goods/services must be managed by using limited funds and
resources to achieve the targets set within the shortest possible time and can be held accountable.
2. Being Effective, means that the procurement of goods/services must be in accordance with the requirements that
have been established and can provide maximum benefits in accordance with the targets set.
3. Being Open and Competitive, means that the procurement of goods/services must be open to the suppliers
of goods/services that meet the requirements and is carried out through fair competition among suppliers of
goods/services that are equal and meet certain requirements/ criteria based on clear and transparent rules and
procedures.
4. Being Transparent, means that all provisions and information regarding procurement of goods/ services, including
technical requirements of procurement administration, evaluation procedures, evaluation results, determination
of prospective goods/services suppliers, are transparent to the interested goods/services suppliers as well as to
the public in general.
5. Being Fair/Not Discriminative, means that equal treatment is given to all prospective goods/services suppliers
without intention to give personal gain to certain parties with any method or reason whatsoever.
6. Being Accountable, means that it must achieve physical, financial and beneficial goals for the smooth implementation
of general government tasks and community services in accordance with the principles and provisions applicable
in the procurement of goods/services.
Types of Tenders
1. Regular (Open) Tender • Tender winner determination
Limited Tender These methods are conducted if • Tender winner announcement
the tender value is estimated to be more than 5 • Tender participants objections
billion Rupiah with the following implementation • Contract signing
conditions: • Advance payments
• Prequalification announcement 2. Direct Selection
• Prequalification documents submission Procedures for the procurement of goods and
• Prequalification documents evaluation services using the direct selection method are
• Determination of prequalification announcement carried out with the following process:
• Invitation to collect procurement documents • Invitations to goods and services suppliers
• Tender explanation - Submission and opening of • Providing explanation of procurement documents
bid documents • Submission of bids - Opening of bids
• Bid evaluation - Preparation of minutes of tender • Evaluation of bids
results • Technical clarification and negotiation
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• Determination of selected goods and services irregularities in the implementation of Procurement
suppliers activities.
• Appointment of goods and services suppliers 3. Not influencing each other either directly or indirectly
• Contract Signing to prevent and avoid unfair competition.
4. Accepting and being responsible for all decisions
Procedures for Procurement of Goods and made in accordance with the agreement of the
Services within the Company parties.
5. Avoiding and preventing conflicts of interest among
Basic Principles of Procurement the parties.
In implementing the procurement process, the basic 6. Avoiding and preventing waste in the implementation
principles of procurement must be considered, namely: of procurement activities.
1. Effective, means that Procurement activities must be in 7. Avoiding and preventing authority abuse and/ or
accordance with the needs/plans that have been set collusion with the aim of personal, group or other
and can provide optimal benefits for the Company. parties’ benefits that can directly or indirectly harm
2. Efficient, means that Procurement activities are carried the bank.
out to achieve the specified quality, at the agreed time 8. Avoiding and preventing Corruption, Collusion and
at the best price level. Nepotism in the procurement process.
3. Open and Competitive, means that the implementation 9. Not accepting gifts or rewards in any form, either
of Procurement must be open to goods and services directly or indirectly
suppliers who have met the requirements and carried
out through fair competition among goods and services Facilities or Media for the Procurement of
suppliers and meet certain requirements/ criteria based Goods and/or Services
on clear and transparent provisions and procedures. To support the implementation of goods and/ or services
4. Transparent, means that all provisions and information procurement process, the Company provides media
regarding procurement implementation, including and facilities through the Company’s E-Procurement
technical and administrative requirements, evaluation through the website https://procurement. co.id:7348.
procedures, evaluation results, determination of The E-Procurement system is used so that procurement
prospective suppliers of goods and services are open. can be done transparently and can be monitored by all
5. Fair and non-discriminatory, means providing equal procurement committees.
treatment to all prospective goods and services
suppliers, not aiming to provide benefits to certain Guidelines for Imposition of Goods and
parties in any means and/or reason. Services Procurement
6. Accountable, means that procurement processes, Procurement realization must be in accordance with the
results and payments must be accountable. current year’s Company Work Plan and Budget for both
7. Responsibility, means that the procurement process is at the expense of the investment budget post (capital
carried out carefully and in compliance with applicable expenditure) and the exploitation budget post (general
regulations. and administrative expenses)
8. Independent, means that procurement decisions are 1. Capital Expenditure
taken objectively and free from pressure from any The procurement of movable and immovable
party. Fixed Assets which are categorized as investment
expenditure is charged to Capital Expenditure, the
Procurement Ethics classification of Capital Expenditure goods has the
In the implementation of procurement, all parties following criteria:
involved in the process, including the Procurement • Not used up within 1 (one) year
Implementation Unit, Users as well as Goods and Service • Not easily damaged/ lost
Suppliers must comply with the following ethics: • If damaged, it can generally be repaired
1. Carrying out each other’s obligations in an orderly • The units are easily monitored, calculated and
manner with a sense of responsibility to reach can be coded
smoothness and accuracy in achieving procurement • The acquisition value is in accordance with the
objectives. applicable provisions
2. Work professionally and independently on the 2. Exploitation Expense/Operasional Expenditure (OPEX)
basis of honesty and maintain the documents’ All expenses/costs for obtaining goods and services
confidentiality that should be kept confidential, are charged to General and Administrative Fees, labor
such as Self-Estimated Prices (HPS), to prevent costs, training costs, lottery prize costs, non-raffle
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Good Corporate
Governance
prize costs and promotion costs with the following Submission of Procurement Requests
criteria: 1. The user submits the procurement request as
• Does not meet the criteria for investment goods. outlined in a memorandum to the Procurement
• Having a (pure) rental nature despite having the Implementing Unit by including the information
technical age of 5 (five) years or more. required in the procurement process, as well as
• For application enhancement, specifically for attaching the required supporting documents.
Information Technology Solutions related to 2. Procurement requests must be approved by the
Enhancement or refinement of applications using authorized official, in accordance with the approval
a Change Request, may be charged to the BUA as matrix for submission of goods and services (Chapter
long as it does not add value to the benefits. VI Organization and Authority).
3. Rebudgeting and Reserves If the obligations for 3. Ensuring the availability of budget for each
the Goods and Services Provider’s bill exceed the procurement.
fiscal year (for example due to payment or retention 4. Requests for the procurement of Information
terms), then: Technology goods and services for strategic
• For investment expenses, it must be rebudgeted IT projects are submitted to the Procurement
in the next fiscal year period in the amount Implementing Unit based on decisions on strategic IT
of the remaining unpaid term for the related initiatives decisions set by the competent Committee
procurement by the User. or Board of Directors meeting at the preparation of
• For exploitation expenses, it must be reserved at the Company Work Plan and Budget at the beginning
the end of the fiscal year for work whose benefits of the year and its amendments in the current year.
have been received by MTF (BAST/BAKP signed) 5. The Procurement process can only be implemented
and re-budgeted for work which has not been if all the requirements related to the Procurement
received by the User. process have been obtained from the related work
4. Bookkeeping The recording of transactions on unit.
Procurement should refer to the Accounting 6. The Procurement Unit evaluates each submitted
Policies applicable at MTF and the provisions in the procurement request to ensure that all required
Accounting Guidelines Standard. documents are complete.
7. The timeliness of the procurement process is carried
Self Estimated Price (HPS) out according to a predetermined schedule.
Self-Estimated Price is an analysis of the calculation of
the estimated cost of procuring goods/services which is Procurement Process Through the Tender
calculated on the basis of the scope and specifications Process Method
of the goods/ services to be procured, by utilizing 1. Providing Invitations to Goods and Services Suppliers.
available data sources and using appropriate technical 2. Conducting the Aanwijzing Process.
analysis methods. Every procurement process, except 3. Offers Submission:
for direct purchases and online purchases, must have a. Submission of bid documents by e-tendering
Self-Estimated Price as a reference in carrying out the through the Company’s procurement website
price clarification/negotiation process for an offer and https://procurement.co.id:7348;
to determine the procurement decisionmaking official. b. Bidders submit bid documents (administrative,
technical, price) online by uploading bid
The HPS must reflect a reasonable price and can be documents via https:// procurement.co.id:7348.
accounted for. The preparation of the HPS must take 4. Clarification and Negotiation Process.
into account tax costs in accordance with applicable 5. Stages to obtain an appropriate price and ensure
regulations, general overhead costs and reasonable technical clarity and costs that can be accounted for.
margins/profits for service providers. HPS revision can 6. Follow-up Clarification and Negotiation Process (if
be implemented if it meets one of the following criteria: needed), it is carried out if in terms of technical and
1. There is a cost component that has not been taken financial point of view still not in accordance with
into account in the initial HPS the proposed Terms of Reference (TOR).
2. The negotiation process has been finalized with the 7. Determination of Selected Goods and Services
condition that the negotiated price is still above Suppliers.
the HPS, but it is not possible to carry out re- 8. The Procurement Team/Procurement Implementing
procurement due to the number of partners who are Unit proposes the selected prospective goods and
capable of carrying out the work is limited or does services suppliers to the officials authorized to
not guarantee the achievement of targets. determine goods and services suppliers by attaching
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minutes of evaluation and negotiations and other Submission System and Bidding Documents
information to be determined. Submission
9. Appointment of Goods and Services Suppliers.
10. The Committee issues Decree on the Appointment of Bidding Document Submission Method
Goods/Services Suppliers to the selected goods and The submission method for Bidding Documents must
services suppliers and issues a letter of notification follow the provisions required in the Procurement
to the losing participants. Documents and the Goods and Services Procurement
11. Contract signing Work Unit/Procurement Committee at the time of the
aanwijzing stage, that one of the following 3 (three)
Procurement System Determination methods is used:
1. One Envelope Method
Determination of Procurement Method & Type The One-Envelope Method, namely submission
Considering the type, nature and value of the goods/ of Bid Documents consisting of administrative
services as well as the location conditions and the requirements, technical requirements and price bids
number of existing goods/services suppliers, the Goods included in 1 (one) closed envelope to the Goods
and Services Procurement Work Unit/Procurement and Services Procurement Work Unit/ Procurement
Committee and/or together with the Goods/Services Committee.
Users must first determine the method/procurement 2. Two Envelope Method
system that is most appropriate or compatible with the The Two-Envelope Method, namely the submission
goods/ services concerned, including among others: of Bid Documents consisting of administrative
the procurement method, bid submission system, bid requirements and technical requirements is included
evaluation method and procurement contract system to in closed envelope I, while the bid price is included
be used. in closed envelope II, then envelopes I and II are
included in 1 (one) closing envelope.
Procurement method can be done by the following 3. Two Stage Method
methods: The Two-Stage Method, namely the submission of
• Regular (Open) Tender the Bid Documents consisting of administrative
• Limited (Selection) Tender requirements and technical requirements is included
• Direct Appointments in a closed envelope I (phase I), while the bid price
• Direct Procurement/Purchasing is included in a closed envelope (stage II), which
• Competitions/Contests is submitted in 2 (two) stages separately and at
different times. The Two-Stage Method is used for
Other procurement methods to be determined based on the procurement of high-tech, complex and high-
the Board of Directors Regulation Types of procurement risk goods/services or prioritizing the achievement/
work include: fulfillment of certain performance criteria of the
• Goods are both tangible and intangible. entire system. The selection of the submission
• Contractor Services are construction work services system is made based on the consideration of the
or other physical forms whose technical planning degree of complexity of the work to be tendered.
and specifications are determined by the Goods/
Services User and the process and implementation The selection of the submission system is made based
are supervised by the Goods/Services User or the on the consideration of the degree of complexity of the
assigned supervisor. work to be tendered.
• Consulting Services, are professional expertise
services that require certain expertise in various Document Submission for Bidding
scientific fields. The method of submitting and opening bid documents
• Other services, are services that require certain must follow the requirements specified in the Procurement
abilities that prioritize skills in a governance system Document. The conditions for registration, meeting
that is widely known in the business world to registration requirements, and obtaining the Bidding
complete a job or all work and/or provide services Documents with post-qualification conditions and the
other than Consultancy Services, Contracting and procedure for submitting Bid Documents are as follows:
Goods. 1. Bidders who are eligible to submit Bid Documents
are Goods/Services Providers who have passed
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Good Corporate
Governance
pre-qualification and are listed as invited • Bidders submit bid documents
participants. The submission is done as follows: (administrative, technical, price) online
a. Direct Submission by uploading bid documents via https://
• Participants directly submit their bid procurement.co.id:7348.
documents to the bidding document • Bid documents uploaded in PDF format will be
submission location provided by the Goods encrypted (password) by the e-procurement
and Services Procurement Work Unit/ system, and the password (file certificate) will
Procurement Committee. be sent to the bidder.
• The latest deadline for submitting bid • Bidders are prohibited from providing
documents to the bid document submission encryption codes (password/certificate)
location must comply with the provisions in before the final upload deadline for bid
the Procurement Document, i.e., before the documents.
closing time for submitting Bid Documents/ • Bid documents that cannot be opened during
Proposals. the bid opening, either due to password
• At the end of the document submission errors or damage to the soft copy file sent by
deadline, the Goods and Services Procurement the bidder, become the bidder’s risk.
Work Unit/Procurement Committee declares • Before the upload deadline expires,
the submission of Bid Documents/Proposals participants can change bid documents (per
closed, rejects late Bid Documents/Proposals, item required), and the applicable file is the
and rejects the addition of Bid Documents/ last one uploaded.
Proposals. • After the upload deadline expires, the
• Bidders must enclose Bid Documents/ Goods and Services Procurement Work
Proposals in a sealed and glued envelope. Unit/Procurement Committee requests the
• Only the address of the service user and encryption code (password/file certificate).
the name of the work package to be carried The Goods and Services Procurement
out are written on the top left corner of the Work Unit/Procurement Committee may
envelope. impose a specific time limit for submitting
• If the envelope is not glued according to the encryption code (password). If, by the
the instructions, the Goods and Services specified time limit, the participant does not
Procurement Work Unit/Procurement provide the encryption code (password) or
Committee is not responsible for the contents the provided code is not valid, resulting in the
of the bid envelope. Failure to glue or errors bid being unable to be opened or evaluated,
in writing on the Bid Document envelope do the bid is considered null and void.
not invalidate the bid. 2. There are two Bid Evaluation System:
• If a bidder wishes to withdraw/change/ a. Bid evaluation system for procurement of goods
replace/add bid documents that have been and services, consisting of the knockout system,
submitted to the bid document submission scoring system, cost assessment system for the
location, this must be done before the closing economic life;
time for submitting Bid Documents. b. Bid evaluation system for consulting services
b. tendering Document Submission via the divided into Quality Evaluation System, Quality
Company’s Procurement Website https:// and Cost Evaluation System, and Lowest Cost
procurement.co.id:7348: Evaluation System.
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05
Form and type of employment bond
The form of the employment bond consists of proof of purchase of goods, Work Order Letter (SPK), work contracts:
1. Types of employment bond consist of: Lumpsum bond, unit price and volume commitments, lumpsum and unit
price combined bond, finished acceptance bond, unit price bonds without a definite order volume, gradual delivery
bonds with maximum volume limits, cost plus fee bonds, percentage bond.
2. Guarantees in the procurement of goods and services: In implementing the procurement of goods and services,
one must be aware of the risks that may arise, including resignation from the goods and services provider, default,
risk of withdrawing advance payments, and other risks.
Types of Tenders
Regular (Open) Tenders, Limited Tenders
The implementation of this method is carried out if the tender value is estimated to be more than 10 billion Rupiah
with the following implementation conditions:
1. Prequalification announcement
2. Prequalification documents submission
3. Prequalification documents evaluation
4. Prequalification announcement determination
5. Invitation to collect procurement documents
6. Tender explanation - Bids submission and opening
7. Bid evaluation - Preparation of minutes of tender results
8. Tender winner determination
9. Tender winner announcement
10. Objection from bidders
11. Contract signing
12. Advance payments
Direct Selection
The procedure for procuring goods and services using the direct selection method is carried out in the following
process:
1. Invitations to providers of goods and services
2. Providing explanation of procurement documents
3. Submission of bids - Opening of bids
4. Evaluation of bids
5. Technical clarification and negotiation
6. Determination of selected goods and services providers
7. Appointment of goods and services providers
8. Contract signing
9. Advance payments
2023 Annual Report | PT Mandiri Tunas Finance 267
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Good Corporate
Governance
Compliance with Financing Company Governance Guidelines:
Compliance with Financial Services Authority (FSA)
Regulation No. 29/ POJK.05/2020 Concerning Amendments to
FSA Regulation No. 30/POJK.05/2014 on Good Corporate
Governance for Financing Companies
In general, the Company, as a financial services institution, has adhered to all regulations issued by the Financial Services
Authority (OJK). The company remains committed to making ongoing improvements aimed at creating added value for
shareholders and stakeholders. Specifically, regarding the guidelines for implementing Good Corporate Governance
(GCG) as stipulated by OJK Regulation No. 29/POJK.05/2020, which amends OJK Regulation No. 30/POJK.05/2014 on
Good Corporate Governance for Financial Services Companies, the Company is dedicated to developing and applying
GCG principles in line with these regulations. The detailed description of its implementation is provided below.
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Implementation The principles of Good Corporate Governance √ Company’s important information, such as
of Good include: transparency, accountability, Annual Reports, Financial Statements, etc., is
Corporate responsibility, independence, and equality and available on the Company’s website.
Governance fairness.
The implementation of Good Corporate √ In carrying out its business activities, the
Governance aims to: Company always implements good governance
1. Optimizing the value of the Company for in accordance with these 5 principles, so that
Stakeholders, especially debtors, creditors the Company’s objectives of implementing
and/or other Stakeholders; good governance can be achieved.
2. Improving the Company management in a
professional, effective and efficient
manner;
3. Improving the compliance of the Company
Organs and SSB and its subordinates so
that in making decisions and carrying out
actions based on high ethics, compliance
with laws and regulations, and awareness
of the Company’s social responsibility
towards Stakeholders and environmental
sustainability;
4. Creating a healthier, more reliable,
trustworthy, competitive Company and
fulfilling the principles of consumer
protection; and
5. Increasing the Comp.
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The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The implementation of the Good Corporate √ 1. The Company has guidelines for the code
Governance principles is manifested at least in of conduct for the Board of
1. implementation of the duties and Commissioners and Directors;
responsibilities of the Board of Directors, 2. The Company has charter/guidelines for
Board of Commissioners and DPS; the Committees to support for the Board
2. the completeness and implementation of of Commissioners;
the duties of the committees and work 3. The Company already has a good
units that carry out the internal control governance policy which contains
function; regulation regarding conflict of interest;
3. conflict of interest handling; 4. The Company has the compliance and
4. implementation of compliance, internal internal audit functions along with its
audit and external audit functions; policies and procedures;
5. implementation of risk management and 5. The Company has a risk management
internal control systems; function along with internal policies and
6. implementation of remuneration policies; controls;
7. transparency of financial and non- 6. The remuneration policy is implemented
financial conditions; And 8. business plan. by the Company’s Nomination and
Remuneration Committee;
7. Transparency of financial and non-
financial conditions has been
implemented by the Company, this is the
evident in the Company’s website page,
which provides financial and nonfinancial
information data; and
8. The Company has a long-term and short-
term plans. Short-term plans are
prepared for 1 year in the form of a
business plan whose contents in
accordance with FSA Regulations.
In terms of business activities, the Company is √ The Company's business activities have been
required to implement its business activities in a adjusted to the statutory provisions, including
healthy manner and comply with all laws and FSA Regulations relating to the finance
regulations on the financial services industry company industry
which are under the supervision of the FSA.
The Company is required to have adequate √ All of the Company's business and operational
operating standards and procedures for all of its activities have policies and procedures set by
business activities as determined by the Board the Board of Directors.
of Directors
General The Company's GMS must be held in accordance √ GMS decisions are based on deliberation and
Meeting of with the provisions of laws and regulations and consensus of all shareholders
Shareholders the Company's articles of association which are
transparent and accountable.
In making decisions, the GMS must maintain the √ The Company’s shareholders have passed the
interests of all parties, especially the interests of fit and proper test as the controlling
debtors, creditors and minority shareholders. shareholder
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Shareholders Every party who is the controlling shareholder of √ The Company’s shareholders have passed the
the Company must comply with the fit and fit and proper test as the controlling
proper test requirements. Provisions regarding shareholder
fit and proper test are regulated by the FSA
Regulations regarding fit and proper test.
The Company's shareholders through the GMS √ The Company runs the GMS as stipulated in the
must ensure that the Company is run based on FAS Regulations.
sound financing business practices.
√ The Company's Shareholders do not interfere
Shareholders must be committed to the
with the Company's operational activities as
development of the Company's operations.
stipulated in the Corporate Laws.
√ Members of the Company’s Board of Directors
Company shareholders who serve as members of
and Board of Commissioners always prioritize
the Board of Directors, members of the Board of
the interests of the Company first and practice
Commissioners, or members of the SSB in the
the functions of implementation and
same company must prioritize the interests of
supervision in accordance with the applicable
the Company.
provisions
√ Members of the Company’s Board of Directors
The shareholder of the Company who serves as a
and Board of Commissioners always prioritize
member of the Board of Directors, a member of
the interests of the Company first and practice
the Board of Commissioners, or a member of the
the functions of implementation and
GMS in the same Company must prioritize the
supervision in accordance with the applicable
interests of the Company.
provisions
Board of Companies that have assets of more than √ The Company has 3 (three) Directors.
Directors Rp200,000,000,000.00 must have at least 3
(three) members of the Board of Directors.
All members of the Company’s Board of Directors √ The Company’s shareholders are Indonesian
of whose shareholders are: legal entities that are owned directly or
• Indonesian citizens; and/or indirectly by Indonesian citizens, so that all
• Indonesian legal entities owned directly or members of the Company’s Board of Directors
indirectly by Indonesian citizens, are Indonesian citizens.
• Must be Indonesian citizenship.
X There is no foreign ownership in the Company.
Companies that have foreign ownership, either
directly or indirectly, must have at least 50% of
the members of the Board of Directors who are
Indonesian citizens.
Members of the Company's Board of Directors √ All members of the Board of Directors are
must be domiciled in the territory of the Republic domiciled in Indonesia.
of Indonesia.
For members of the Board of Directors with X None of members of the Board of Directors are
foreign nationality, they are required to have the foreign citizens.
residence permit and work permit from the
competent authority
√ All members of the Company's Board of
Directors have knowledge relevant to their
All members of the Company's Board of Directors
positions and all members of the Company's
must have knowledge relevant to their position.
Board of Directors have passed the FSA fit and
proper test.
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The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Members of the Company’s Board of Directors √ Members of the Company's Board of Directors
are prohibited from holding concurrent positions do not hold concurrent positions in other
as the Board of Directors in other companies companies.
except as members of the Board of Commissioners
in a maximum of 3 (three) other companies. It is not
considered as concurrent positions if a member of
the Board of Directors who is responsible for
supervising participation in the subsidiary that has
business in the financing sector, carries out
functional duties as member of the Board of
Commissioners in a subsidiary controlled by the
Company, as long as the concurrent positions do
not result in the concerned neglecting the
implementation of duties and authority as a
member of the Company’s Board of Directors.
Each member of the Company’s Board of √ All members of the Board of Directors have
Directors is required to pass a fit and proper test. passed the fit and proper test according to FSA
Provisions regarding the fit and proper test are Regulations.
regulated by the FSA Regulation concerning the
fit and proper test.
Members of the Company’s Board of Directors √ Members of the Board of Directors have met
must meet the following criteria: the criteria determined by FSA.
• able to act in good faith, honestly and
professionally;
• able to act in the interests of the Company
and/or other Stakeholders;
• prioritizing the interests of the Company
and/or other Stakeholders over personal
interests;
• able to make decisions based on
independent and objectives assessments
for the benefit of the Company and its
debtors, creditors and/or other
Stakeholders; and
• able to avoid misuse of his/he authority to
obtain undue personal gain or cause harm
to the Company.
The Company’s Board of Directors of the must: √ The Company’s Board of Directors implements
• comply with laws and regulations, articles their duties and responsibilities as mandated
of association, and other internal in the Laws and Articles of Association.
regulations of the Company in carrying out
their duties;
• manage the Company in accordance with
their authority and responsibility;
• be responsible for the implementation of
their duties to the GMS;
• ensure that the Company pays attention to
the interests of all parties, especially the
interests of debtors, creditors and/or
other intelligence stakeholders;
• ensure that information regarding the
Company is provided to the Board of
Commissioners and SSB in a timely and
complete manner; and
• assist and provide facilities and/or
resources for the smooth implementation
of duties and powers of the Company
Organs and SSB.
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The Company is required to have a member of √ The compliance function in the Company is led
the Board of Directors overseeing the compliance directly by the President Director.
function. The compliance function involves a
series of actions or steps to ensure that the
policies, regulations, systems, procedures, and
business activities carried out by the Company
comply with legal regulations. It also ensures the
Company's compliance with commitments made
to the OJK and/or other relevant supervisory
authorities.
The Company is required to have work units or √ The Company has the work unit that performs
employees who perform the compliance the compliance function, namely the Corporate
function. Work units or employees are tasked Secretary, Legal Compliance & APU PPT Division.
with assisting the Board of Directors in ensuring
compliance with laws and regulations in the
financing business sector and other laws and
regulations. The work unit or employee in question
is responsible to the member of the Board of
Directors in charge of the compliance function.
Members of the Company’s Board of Directors are √ The Company’s Board of Directors carries out
prohibited from: their duties and responsibilities as stipulated
• conducting transactions that have conflict of in the laws and regulations and the Company’s
interest, with the Company’s activities where articles of association.
the member of the Board of Directors serves;
• take advantage of his position in the
company where the member of the Board of
Directors is serving for personal, family and/
or other party interests that may harm or
reduce the profits of the Company where the
member of the Board of Directors is serving;
• taking and/or receiving personal benefits
from the Company where the member of the
Board of Directors is serving other than the
remuneration and facilities determined
based on the resolution of the GMS; and
• fulfilling requests from shareholders related
to the operational activities of the Company
where the member of the Board of Directors
is serves other than those stipulated in the
GMS.
The Company’s Board of Directors are required to √ Throughout 2023 the Board of Directors held 51
hold regular meetings of the Directors at least 1 meetings.
(one) once in 1 (one) month. The Company’s
Board of Directors must attend the meeting of
the Board of Directors for at least 50% of the
total BOD meetings in 1 (one) year period
The results of the Board of Directors meeting √ All meetings of the Board of Directors in 2023
must be recorded in the minutes of the Board of have been documented in the minutes of the
Directors meeting and properly documented. Board of Directors meetings with the inclusion
Dissenting opinions expressed in the resolutions of dissenting opinions if any.
of the Board of Directors meeting must be clearly
stated in the minutes of the Board of Directors
meeting along with the reasons for the dissenting
opinions. Members of the Company’s Board of
Directors who are present or not present at the
Board of Directors meeting are entitled to receive
a copy of the minutes of the Board of Directors
meeting
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The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The number of Board of Directors meetings that √ The Board of Directors meetings have been
have been held and the number of attendance of disclosed in the Good Corporate Governance
each member of the Company's Board of Report.
Directors must be included in the report on the
implementation of Good Corporate Governance.
The Board of Directors of the Company must √ The Company's Board of Directors considers all
guarantee effective, precise and fast decision aspects in making decisions.
making and can act independently, not having
interests that could interfere with their ability to
carry out their duties independently and
objectively.
Board of Companies that have assets of more than √ The Company has 3 (three) members of the
Commissioners Rp200,000,000,000.00 (two hundred billion Board of Commissioners and one of them is an
Rupiah) must have at least 2 (two) members of Independent Commissioner. All of the
the Board of Commissioners. The Company must Company’s Commissioners are domiciled in
have at least 1 (one) member of the Board of Indonesia.
Commissioners who is domiciled in the territory
of the Republic of Indonesia.
For members of the Board of Commissioners who O The Company does not have the Board of
are foreign nationals domiciled in the territory of Commissioners who are foreign citizens.
the Republic of Indonesia, they must have: a
residence permit; and a work permit from the
competent authority
Members of the Company’s Board of Commissioners √ Members of the Board of Commissioners do not
are prohibited from holding concurrent positions hold concurrent positions as members of the
as members of the Board of Commissioners in Board of Commissioners in other companies.
more than 3 (three) other companies. It is not
considered as concurrent positions if:
• non-independent members of the Board of
Commissioners carry out the functional
duties of the Company’s shareholders in
the form of legal entities in their business
group; and/or
• members of the Board of Commissioners
hold positions in non-profit organizations
or institutions;
• as long as the person concerned does not
neglect the implementation of duties and
responsibilities as member of the
Company’s Board of Commissioners.
Members of the Board of Commissioners must √ All members of the Board of Commissioners are
meet the requirements of never being a member external parties of the Company and previously
of the Board of Directors in the same company were not the members of the Company’s Board
within the last 6 (six) months. of Directors.
Each member of the Company’s Board of √ Each member of the Board of Commissioners
Commissioners is required to pass the fit and has had the fit and proper test conducted by
proper test. Provisions regarding the fit and FSA.
proper test are regulated by FSA Regulations
regarding fit and proper test.
2023 Annual Report | PT Mandiri Tunas Finance 273
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The Company’s Board of Commissioners must: √ The Board of Commissioners carries out its
• carry out supervisory duties and provide obligations as mandated in the Laws and the
advice to the Board of Directors; Company's Articles of Association.
• supervise the Board of Directors in
maintaining a balance of interests of all
parties;
• compile the report on the activities of the
Board of Commissioners which is part of
the report on the implementation of Good
Corporate Governance;
• monitor the effectiveness of Governance
implementation Good Company;
• provide approval in the event that the
Sharia Supervisory Board requires the
assistance of a committee member whose
organizational structure is under the
Board of Commissioners; and
• ensure that the Board of Directors has
followed up on audit findings and
recommendations from the Company’s
internal audit work unit, external auditors,
results of FSA supervision
Members of the Company’s Board of √ The Board of Commissioners in carrying out
Commissioners are prohibited from: their duties and functions is in accordance with
• Members of the Company’s Board of the applicable laws and regulations and the
Commissioners are prohibited from: Company’s Articles of Association.
• conducting transactions that have conflict
of interest with the activities of the
Company where the member of the Board
of Commissioners concerned serves;
• taking advantage of his/her position in the
Company where the intended member of
the Board of Commissioners serves for
personal, family and/or other party
interests that may harm or reduce the
profits of the Company where the said
member of the Board of Commissioners
serves;
• taking and/or accepting personal benefits
from the Company where the member of
the Board of Commissioners is appointed,
other than the remuneration and facilities
determined based on the decision of the
GMS; and
• interfering with the Company’s operational
activities which are the Board ofDirectors.
Members of the Company’s Board of √ The Board of Directors always provides
Commissioners are entitled to obtain complete complete and timely information to the Board
and timely information from the Board of of Commissioners.
Directors regarding the Company
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The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Companies with assets of more than √ The Company has an Independent
Rp200,000,000,000.00 must have at least 1 (one) Commissioner and meets the FSA requirements.
Independent Commissioner. The Company’s
Independent Commissioners must meet the following
requirements: • Has no affiliation with members of
the Board of Directors, members of the Board of
Commissioners, members of the SSB, or the
Company’s shareholders, in the same company;
• Has never served as a member of the
Board of Directors, member of the Board
of Commissioners, member of the SSB or
held a position 1 (one) level below the
Board of Directors in the same company or
other companies that have affiliated
relationships with the Company within the
last 2 (two) years;
• Understand the laws and regulations in
the field of financing and other relevant
laws and regulations;
• Have good knowledge of the financial
condition of the Company where the
Independent Commissioner is appointed;
• Have Indonesian citizenship; and
• Domiciled in Indonesia.
Independent Commissioners have the main task √ The duties and functions of the Independent
of carrying out a supervisory function to voice Commissioner are listed in the Board of
the interests of debtors, creditors and other Commissioners' Charter.
stakeholders
Independent Commissioners are required to √ Throughout 2023 the Independent
report to FSA no later than 10 calendar days after Commissioner found no violations and other
the discovery of: matters that endanger the Company.
• violation of laws and regulations in the
field of financing; and/or circumstances or
estimates circumstances that can
• endanger the continuity of the Company’s
business
Companies are prohibited from dismissing √ In 2023, the Company dismissed Ravik Karsidi
Independent Commissioners due to the actions from the position of Independent Commissioner
of Independent Commissioners in carrying out and appointed Fendy Eventius Mugni.
their duties.
Companies with total assets of more than √ The Company's Board of Commissioners has an
Rp200,000,000,000.00 are required to form an audit committee, a risk monitoring committee
audit committee, a risk monitoring committee as and a remuneration and nomination committee
well as a remuneration and nomination in implementing their duties and
committee. Besides to the above committees, responsibilities.
the Board of Commissioners may form other
committees to support the implementation of
the Board of Commissioners’ duties.
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The Company’s audit committee must consist of √ The structure of the Company's audit committee
at least: is in accordance with FSA Regulations
• 1 (one) Independent Commissioner serving
as chairman;
• 1 (one) independent party with expertise in:
Audit;
Finance;
Accounting for Financing Companies
or Sharia Accounting for Sharia
Financing Companies or Financing
Companies that have Sharia Business
Unit (SBU).
The Audit Committee is required to carry out: √ The Company’s audit committee has conducted:
• Monitoring and evaluating of audit monitoring and evaluation of audit planning
planning and implementation; and and implementation; and Monitoring the
• Monitoring the follow-up of audit results follow-up of audit results in order to assess the
in order to assess the adequacy of the adequacy of the financial reporting process
financial reporting process financial reporting process.
The Implementation that must be carried out by √ The audit committee has monitored all tasks of
the Audit Committee as above, is at least for: the internal audit work unit, the suitability of
• Implementation of duties of the internal the audit implementation by the public
audit work unit; accounting firm, the conformity of financial
• The conformity of audit implementation by statements with financial accounting standards
a public accounting firm with financial and the implementation of follow-up on the
auditing standards; findings of the internal audit work unit, public
• The conformity of financial reports with accountants and other external audits.
financial accounting standards; and
• Implementation of follow-ups by the Board
of Directors on the findings of the internal
audit work unit, public accountants, and FSA
supervision results, in order to provide
recommendations to the Board of
Commissioners
Audit Committee is required to provide √ The audit committee has provided
recommendations regarding the appointment of recommendations on the appointment of
public accountants and public accounting firm to public accountants and public accounting firms
the Board of Commissioners to be submitted to to the Board of Commissioners.
the GMS
The Risk Monitoring Committee must consist of √ The structure of the Company’s risk monitoring
at least: committee complies with FSA Regulations.
• 1 (one) Independent Commissioner serving
as chairman; and
• 1 (one) independent party with expertise
in finance and/or management risk of
being a member
√ The Company’s risk monitoring committee has
The Risk Monitoring Committee must at least:
implemented:
• Evaluating the suitability between risk
• Evaluating the suitability between risk
management policies and the
management policies and the implementation
implementation of Company policies; and
of Company policies; and
• Monitoring and evaluating the
• Monitoring and evaluating the
implementation of the duties of the risk
implementation of the duties of the risk
management committee and the risk
management committee and the risk
management work unit.
management work unit.
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The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The remuneration & nomination committee must √ The structure of the Company’s remuneration &
have at least the following members: nomination committee is in accordance with
• 1 (one) Independent Commissioner serving FSA Regulations.
as chairman;
• 1 (one) Commissioner;
• 1 (one) official with a position level of 1
(one) level below the Board of Directors in
charge of human resource management
The remuneration and nomination committee √ The Company’s remuneration and nomination
must: committee has carried out: Conducting
• conduct evaluations and recommendations evaluation and recommendations related to
related to remuneration policies; And remuneration policy; Developing and providing
• prepare and provide recommendations recommendations related to nomination
regarding nomination policies policy.
Companies that have total assets of up to √ The Audit Committee is under the supervision
Rp200,000,000,000.00 must have a function that of the Company’s Board of Commissioners.
assists the Board of Commissioners in monitoring
and ensuring the effectiveness of the internal
control system and the implementation of the
internal and external auditors duties by
monitoring and evaluating the planning and
implementation of audits in order to assess the
adequacy of internal controls, including the
financial reporting process
The Company’s Board of Commissioners must √ Throughout the year 2023, the Board of
hold a Board of Commissioners meeting at least Commissioners held meetings 6 times.
1 (one) time in 3 (three) months. Members of the
Company’s Board of Commissioners must attend
at least 75% of the Board of Commissioners’
meetings in 1 (one) year period. The results of
the Board of Commissioners’ meeting must be
recorded in the minutes of the Board of
Commissioners’ meeting and properly
documented.
Dissenting opinions that arise in the resolutions √ The agenda for the Board of Commissioners’
of the Board of Commissioners meeting must be meeting is stated in the Minutes of Meeting of
clearly stated in the minutes of the Board of the Board of Commissioners.
Commissioners meeting along with the reasons
for the difference of opinion. Members of the
Company’s Board of Commissioners who are
present or not present at the Board of
Commissioners meeting are entitled to receive a
copy of the minutes of the Board of Commissioners
meeting.
The number of Board of Commissioners meetings √ The number of meetings has been listed in
that have been held and the number of attendance Good Corporate Governance.
of each member of the Board of Commissioners
must be included in the report on the Good
Corporate Governance implementation
The Company's Board of Commissioners is √ The decisions of the Board of Commissioners
obliged to ensure effective, appropriate and fast are independent and professional.
decision making and can act independently in
carrying out their duties.
Sharia - The Company does not have the Sharia
Sharia Financing Companies and SBU are
Supervisory Supervisory Board.
required to have SSB.
Board
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Share Members of the Board of Directors and members of √ The share ownership of the Board of Directors
Ownership the Board of Commissioners must disclose and the Board of Commissioners is disclosed in
Transparency regarding: the list of shareholders
• share ownership that reaches 5% (five
percent) or more in the Company where the
members of the Board of Directors and
members of the Board of Commissioners in
question serve and/or in other companies
domiciled at home and abroad; and
• financial relationships and family
relationships with other members of the Board
of Directors, other members of the Board of
Commissioners, members of the Sharia
Supervisory Board, and/ or shareholders of the
Company or business group where the said
members of the Board of Directors and
members of the Board of Commissioners
serve, to the Company where the said
members of the Board of Directors and/or
members of the Board of Commissioners serve
and is included it in the Good Corporate
Governance implementation report.
external The Company’s external auditors must be √ The appointment of external auditor is in
Auditor appointed by GMS of external auditors accordance with the recommendations of the
candidates proposed by the Board of Audit Committee
Commissioners based on the recommendation of
Audit Committee (if any). The nomination of the
external auditor must be accompanied by:
• reasons for nomination and the amount of
honorarium or fees proposed for the
external auditor; and
• statement of commitment signed by the
external auditor, to be free from the
influence of the Board of Directors, Board
of Commissioners, SSB and other
interested parties in the Company and the
willingness to provide information related
to the audit results to FSA.
Companies are required to provide all accounting √ The Company is open to providing information
records and supporting data for the external and supporting data for external auditors.
auditors so that the external auditors can
provide their opinion on the fairness and
conformity of the Company’s financial statements
with the applicable auditing standards
Remuneration Companies are required to implement a √ The remuneration policy has been regulated by
Practice and remuneration policy for members of the Board of the Nomination and Remuneration Committee.
Policy Directors, members of the Board of Commissioners,
SSB and employees that encourage prudent
behavior that is in line with the long-term interests
of the Company and fair treatment of debtors,
creditors and/or other Stakeholders. The
remuneration policy must at least pay attention to:
• financial performance and fulfillment of the
Company’s obligations as stipulated in the
applicable laws and regulations;
• individual work performance;
• fairness with the Company and/or
equivalent position (peer group); and
• consideration of the Company’s long term
goals and strategies
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05
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Financing Companies are required to develop policies and √ The Company's Business Plan contains a
Governance financing plans as outlined in the Company’s financing plan that has been determined by
annual business plan. The financing policies and the Company's Board of Directors and socialized
plans must: to relevant work functions.
• be determined by the Board of Directors;
and
• be socialized to management and related
work units
The Board of Directors is required to make √ The Company has made business plan every
financing decisions professionally and optimize year
the company's wealth value while ensuring the
protection of debtors and the interests of other
stakeholders.
Company must have the work unit or employee √ The Board of Directors makes decisions while
who is responsible for: considering all aspects
• carrying out the marketing function,
implementing the know your customer
principle, finance analysis, monitoring the
quality of financing receivables, billing,
handling Debtor complaints;
• preparing and implementing standards and
operational financing procedures; and
• developing and implementing internal
control systems and procedures to ensure
that the financing process is carried out in
accordance with financing policies and
strategies, and does not violate laws and
regulations. To perform these functions, the
Company is required to have employees who
have knowledge and experience in the field
financing.
Companies must express cooperation with other √ Cooperation with third parties is always stated
parties in the form of a stamped written in a written and stamped agreement.
agreement. The cooperation with other parties
as intended shall comply with the following
conditions:
• the other party is a legal entity;
• the other party has a permit from the
competent authority; and
• the other party has human resources who
have obtained professional certification in
the field of billing from an institution
appointed by the Indonesian finance
companies association. The Company is
fully responsible for all impacts arising
from cooperation with other parties. The
Company is required to conduct periodic
evaluations of cooperation with parties.
Risk Company are required to implement risk √ Risk Management is managed in a separate
Management management by identifying, assessing and division
and Internal monitoring business risks effectively. Risk
Control management must be adjusted to the objectives,
business policies, size and complexity of the
business and the Company’s capabilities.
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
The Company’s Board of Directors must establish √ Internal control is carried out by the Risk
effective and efficient internal controls to Management and Internal Audit Division.
provide adequate assurance that business
activities are carried out in accordance with
business objectives and strategies as well as the
articles of association and other internal rules of
the Company, and laws and regulations.
Internal control includes at least the following: √ The Company's internal control has covered
• disciplined and structured internal control matters as stipulated in the provisions of the
environment within the Company; Financial Services Authority.
• business risk assessment and
management, namely the process to
identify, analyze, assess, and manage
business risks;
• control activities, namely actions taken in
a process of controlling the Company’s
activities at each level and unit in the
Company’s organizational structure,
including authority, authorization,
verification, reconciliation, work
performance assessment, division of tasks
and security of company assets;
• information and communication system,
namely the process of presenting reports
on operational, financial activities, and
compliance with laws and regulations in
the field of financing business;
• monitoring procedures, namely the
process of assessing the quality of the
internal control system including the
internal audit function at each level and
unit of the Company’s organizational
structure, therefore, it can be implemented
optimally; and
• reporting mechanism to the Board of
Directors with a copy to the Audit
Committee, in the event of any deviation
from the quality of the internal control
system, including the internal audit
function at each level and unit of the
Company’s organizational structure.
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05
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Annual Companies are required to prepare an annual √ The Company has prepared an annual business
Business Plan business plan. The annual business plan at least plan.
includes:
• executive summary;
• evaluation of the implementation of the
previous period Business Plan;
• vision, mission and business strategy;
• Management policies and plans, including:
Business activity plan;
Business development or expansion
plan;
Capital plan;
Funding plan;
Development plans and/or changes to
office networks or distribution
channels;
Organizational development plan,
human resources, and/or information
technology; And
Planned activities in order to improve
financial literacy and inclusion for
financing companies.
• projected financial statements and
assumptions used;
• projection of certain
Companies are required to submit annual √ The Annual Business Plan has been reported
business plans to FSA no later than November before the specified due date.
30, before the Business Plan year begins
Companies are required to submit a semi-annual √ The report on the realization of the business
Business Plan Realization Report to the FSA. plan has been prepared in accordance with the
Semester Business Plan Realization Report provisions and submitted to FSA within the
includes: specified deadline.
• explanation regarding the achievement of
the Business Plan;
• explanation regarding deviations from the
realization of the Business Plan;
• follow up on the achievements of the
Business Plan;
• financial ratios and certain items; and
• other information.
Business Plan Realization Report on semi-annual √ The business plan realization report is
basis to FSA must be submitted no later than 1 submitted in accordance with applicable
month after the end of the relevant semester. regulations.
Companies are required to submit a semi-annual √ The business plan monitoring report has been
Business Plan Monitoring Report to the Financial prepared in accordance with the provisions and
Services Authority. The business plan monitoring submitted to the FSA within the specified time
report contains at least the Board of limit.
Commissioners’ assessment regarding:
• realization of business plans both
quantitatively and qualitatively;
• factors affecting NBFIs performance; and
• efforts to improve NBFIs performance.
Reports on the realization of supervision of √ The business plan realization report is
business plans to FSA must be submitted no later submitted in accordance with applicable
than 1 month after the relevant semester ends. regulations.
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Good Corporate
Governance
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Information The Company's communication policy and √ Communication between the Company and FSA
Disclosure strategy must enable the required information to is done through the Corporate Secretary
be provided to FSA in a complete, timely and
efficient manner.
Companies are required to have a reliable √ Financial reporting has been carried out
financial reporting system for monitoring through the system regulated by the FSA and
purposes and other Stakeholders IDX.
Companies are required to disclose important √ The Company conducts information disclosure.
matters to the FSA, including at least:
• pengunduran diri atau pemberhentian
auditor eksternal;
• transaksi material dengan pihak terkait;
• Benturan Kepentingan yang sedang
berlangsung dan/atau yang mungkin akan
terjadi; dan
• informasi material lain mengenai
Perusahaan.
Disclosure of important matters is stated in the √ It has been included in the Good Corporate
report on the implementation of Good Corporate Governance Report
Governance.
Business Ethics The Board of Directors, Board of Commissioners, √ Listed in the Company Regulations.
Sharia Supervisory Board, and employees of the
Company are prohibited from offering or giving
anything, either directly or indirectly to other
parties, to influence decision making related to
financing transactions, in violation of applicable
laws and regulations.
The Board of Directors, Board of Commissioners, √ The Board of Directors, Board of Commissioners,
Sharia Supervisory Board, and employees of the Sharia Supervisory Board, and employees of
Company are prohibited from accepting anything the Company have committed not to accept
for their personal interests in violation of anything for personal interest as stated in the
applicable laws and regulations, either directly Employee Integrity Pact.
or indirectly, from anyone, which may affect
decision making related to financing transactions.
The Company shall establish a guideline on √ Listed in the Company Regulations.
ethical behaviour, which contains business
ethics values, as a guide for the Company's
Organs and all Company employees.
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05
The Conformity of the GCG Implementation Development in the Scope of Mandiri Tunas Finance with FSA Regulation No. 29/
POJK.05/2020 concerning Amendments to FSA Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing
Companies.
Implementation in the Mandiri Tunas Finance
Contents of Regulations as Compliance Principles Status
Scope
Reporting The Company has prepared a report on the √ The Company has prepared a report on the
implementation of Good Corporate Governance implementation of Good Corporate Governance
at the end of each financial year. The report on for OJK.
the implementation of Good Corporate
Governance at least contains:
• transparency of the implementation of
Good Corporate Governance which
discloses all aspects of the implementation
of the principles of Good Corporate
Governance in accordance with the
principles of good corporate governance;
and
• an action plan that includes the necessary
corrective actions and completion time as
well as obstacles to completion, if there
are still deficiencies in the implementation
of Good Corporate Governance. The Good
Corporate Governance implementation
report must be submitted no later than 30
April of the following year.
Sanction The Company that violates the provisions of this √ The company did not violate the provisions
Financial Services Authority Regulation shall be stipulated in the Financial Services Authority
subject to administrative sanctions in the form Regulation (POJK).
of a written warning. In the event of a company
violating the provisions of this Financial Services
Authority Regulation, but the violation has been
resolved, it will still be subject to administrative
sanctions in the form of a self-expiring written
warning. In the event that the company has
fulfilled the provisions of the Financial Services
Authority Regulation, the OJK (Financial Services
Authority) will revoke the administrative
sanctions in the form of a written warning.
In the event that the Financial Services Authority √ Throughout the year 2023, no sanctions were
(OJK) has imposed administrative sanctions, and imposed on the Company.
the company fails to comply with the provisions
leading to such administrative sanctions, OJK
may:
• downgrade the risk assessment results or
health level of the company, and
• reassess the company's key individuals.
2023 Annual Report | PT Mandiri Tunas Finance 283
Page 284
06 Corporate Social and Environmental Responsibility
Page 285
Page 286
Corporate Social and
Environmental Responsibility
Corporate Social and Environmental Responsibility
The Company consistently upholds its commitment to creating a business with positive impacts on stakeholders both in
the short and long terms, through the commitment and principles of sustainable financial implementation, supported
by a high sustainability culture aimed at ensuring business sustainability with consistent and stable performance
through the implementation of economic, social, and environmental values (Economy Social Governance/ESG) as a
business strategy.
Information and discussions related to the implementation, formulation of various strategies, approaches, program
designs, as well as monitoring and evaluation of the company’s social and environmental responsibilities can be
found in the Sustainability Report in a separate book but remains an integral part of this Annual Report.
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06
Basis for TJSL Implementation 4. Governance Principles
The Company’s commitment to implementing the 5. Informative Communication Principles
TJSL program and Sustainable Financial Action is 6. Inclusive Principles
based on Financial Services Authority Regulation No. 7. Priority Leading Sector Development Principles
51/POJK.03/2017 concerning the Implementation of 8. Coordination and Collaboration Principles
Sustainable Finance for Financial Services Institutions,
Issuers and Public Companies. Apart from that, TJSL TJSL Pillars
programs and activities also refer to the Company’s MTF has 3 strategic pillars:
Mission which is in line with Environmental, Social and 1. Growing the captive business segment from Bank
Governance (ESG) aspects. The TJSL program is also Mandiri.
carried out based on various regulations, including: 2. Maintain business segments which comes from
1. Law No. 19 of 2003 concerning State-Owned dealers and partners.
Enterprises as most recently amended by Law No. 3. Optimize the database to provide added value to
6 of 2023 concerning Stipulation of Government customers.
Regulation in Lieu of Law No. 2 of 2022 on Job
Creation. TJSL Program Strategy
2. Law No. 40 of 2007 concerning Limited Liability Long Term Strategy Plans and Steps for a 5 (Five) Year
Companies as most recently amended by Law No. Period. The Company’s long-term strategic plan will stick
6 of 2023 concerning Stipulation of Government to 3 strategic pillars, namely growing the captive business
Regulations in Lieu of Law No. 2 of 2022 on Job segment originating from Bank Mandiri, maintaining the
Creation. business segment originating from dealers and partners,
3. Government Regulation No. 47 of 2012 concerning and optimizing the database to provide added value for
Social and Environmental Responsibility of Limited customers.
Liability Companies;
4. Regulation of the Minister of State-Owned Enterprises This strategy is implemented in several stages, namely:
of the Republic of Indonesia No. PER-1/MBU/03/2023 1. Build new foundations through:
dated March 3, 2023 concerning Special Assignment a. Increasing HR competency to work on new
and Social and Environmental Responsibility business segments;
Program for State-Owned Enterprises. b. Conduct BPR for each business segment;
c. Build system and digital capabilities;
Scope of TJSL d. Build data management & data analytics
The Company has formulated priority subjects and issues capabilities to support business.
which are then designed as programs that can ensure
sustainability from various aspects, namely economic 2. Strengthening the main business focus through:
aspect, environmental aspect and social aspect, hence a. Conduct business with a new foundation;
the Company may grow sustainably, free from corrupt b. Evaluate the competencies that have been built;
practices, and provide benefits to stakeholders. c. Develop digital capabilities for the SME –
Wholesales segment.
TJSL Principles
The Company continuously conducts various ESG 3. Accelerating business growth through:
activities based on eight principles of sustainable a. Review the business expansion that has been
finance: carried out;
1. Investment Principles b. Increase the expansion of business scope;
2. Sustainable Business Strategy and Practice Principles c. Develop strategy & Corporate Planning 2028-2032.
3. Social and Environmental Risk Management
Principles
2023 Annual Report | PT Mandiri Tunas Finance 287
Page 288
Corporate Social and
Environmental Responsibility
TJSL Management Structure
The Company currently does not have an organizational structure that is specifically responsible for managing the
implementation of sustainable finance. Managing the implementation of sustainable finance is currently still the
collective responsibility of the Board of Directors.
TJSL Achievement in 2023
As a manifestation of PT Mandiri Tunas Finance’s success in implementing various Social Responsibility programs, MTF
won award at the TOP CSR Award 2023. In this event, MTF received 2 awards at once where the Company was named
the TOP CSR Award 2023 #Stars 4 as well as the President Director of MTF Pinohadi G. Sumardi crowned as TOP Leader
on CSR Commitment 2023.
CSR Highlights in 2023
In 2023, the Company has implemented various CSR activities that benefitting community welfare.
Time Activity Description
February 2023 CSR Peduli Tempat Ibadah di Masjid Mandiri Tunas Finance provided assistance by donating carpets for the
Endah Andansih di Purwakarta CSR renewal or renovation of Masjid Andansih located in Purwakarta.
March 2023 CSR Tanam Pohon Bersama Mandiri Tunas Finance provided assistance by donating carpets for the
Infobank renewal or renovation of Masjid Andansih located in Purwakarta.
March 27, 2023 CSR MTF Orphan Assistance and MTF conducted a tree-planting activity in collaboration with Infobank.
Orphanage Foundation in the A total of 10,000 Mangrove trees were successfully planted on Tidung
Month of Ramadan (Mandiri Amal Island, Kepulauan Seribu, Jakarta.
Insani)
March 29, 2023 MTF Sharing Ramadan Takjil During the holy month of Ramadan, MTF collaborated with Mandiri
Amal Insani to organize the MTF Sharing with Orphaned Children
program, which involved providing a cash donation of 25 million
Indonesian Rupiah.
April 2023 CSR Ramadan: Sharing with During the holy month of Ramadan, MTF organized the MTF Sharing
Orphaned Children with Orphaned Children program, which involved providing a cash
donation of 25 million Indonesian Rupiah to the Al Kahfi Foundation in
Central Jakarta
April 28, 2023 CSR Capital Market Study Group MTF collaborated with the Faculty of Economics and Business, University
(Kelompok Studi Pasar Modal of Indonesia, to organize a series of events for the Capital Market Study
-KSPM) FEB UI Group (Kelompok Studi Pasar Modal - KSPM) FEB UI. The series of
events included webinars, a Capital Market School, Indonesia Stock
Trading Competition, and an Investment Outlook.
June 29, 2023 MTF Qurbani on Eid al-Adha In the 1444 Hijriah Qurban program, MTF sacrificed 1 cow weighing 900
kg located at the Mandiri Amal Insani Mosque. The meat from the
sacrificial animal was then distributed to eligible recipients in the
Jabodetabek area.
August 11, 2023 CSR Conservation & Forest During the Board Forum event, Mandiri Tunas Finance, together with
Restoration Mandiri Group the Mandiri Group, organized a Conservation and Forest Restoration
activity, planting redwood seedlings with all the subsidiaries of Bank
Mandiri. Symbolic tree planting was carried out by the MTF Board of
Directors, along with all the Directors of Bank Mandiri and all of its
subsidiaries. The event took place at the Panbil Nature Reserve, Riau
Islands, Batam.
288 2023 Annual Report | PT Mandiri Tunas Finance
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06
Time Activity Description
October 7-8, ESG Tree Planting with Mandiri During the Mandiri Carnival event, MTF, along with all subsidiaries of
2023 Group Bank Mandiri, distributed 1000 trees to customers located in the East
Senayan parking lot.
October 21, 2023 ESG Environmental Care through Mandiri Tunas Finance, together with the Mandiri Group, organized a
Tree Planting by MTF Conservation and Forest Restoration activity, planting 2000 redwood
seedlings for all subsidiaries of Bank Mandiri. The event took place at
the Panbil Nature Reserve, Riau Islands, Batam.
October 22, 2023 CSR Care for Places of Worship at Mandiri Tunas Finance provided assistance by donating carpets to
Masjid As-Salam Batam Masjid As-Salam located in Batam.
November 23, Blood Donation MTF 2023 MTF conducted the Blood Donation activity in 2023 in collaboration
2023 with the Indonesian Red Cross (PMI) Jakarta Pusat. Located at the MTF
Head Office, a total of 100 blood bags were successfully collected.
November 28, APPI Care Education Achievement The Indonesian Financing Company Association (APPI) provides
2023 Scholarship Program achievement scholarships to Mandiri Tunas Finance employees who
are in high school and college.
December 20, Board of Directors Teaching 2023 MTF conducted the ‘Directors Teaching' online activity at Universitas
2023 Sebelas Maret (UNS) Surakarta. Students were directly taught by
William Francis Indra, the Director of Mandiri Tunas Finance, with the
material focusing on the Implementation of Financial Management in
Financing Companies.
Information on Submitting Separate Sustainability Reports
The Company’s Sustainability Reports are prepared in accordance with OJK Regulation No. 51/POJK.03/2017 on
Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies. Although it is a separate
document, the Sustainability Report is an essential part of this Annual Report, as mandated by OJK Circular Letter No.
16/SEOJK.04/2021 on the Form and Content of Annual Reports for Issuers or Public Companies. The Company presents
the Sustainability Report as an integral component of this Annual Report, released concurrently with the Annual
Report.
2023 Annual Report | PT Mandiri Tunas Finance 289
Page 290
07 Financial Statements
Page 291
Page 292
PT Mandiri Tunas Finance Laporan keuangan tanggal 31 Desember 2023 dan untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/ Financial statements as of 31 December 2023 and for the year then ended with independent auditor’s report
Page 293
Page 294
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN KEUANGAN FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2023 AS OF 31 DECEMBER 2023
DAN UNTUK TAHUN YANG BERAKHIR PADA AND FOR THE YEAR THEN ENDED
TANGGAL TERSEBUT WITH INDEPENDENT AUDITORʼS REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN
Daftar Isi Table of Contents
Halaman/
Page
Laporan Auditor Independen Independent Auditorʼs Report
Laporan Posisi Keuangan ............................................ 1-2 .................................... Statement of Financial Position
Laporan Laba Rugi dan Penghasilan Statement of Profit or Loss and
Komprehensif Lain ................................................ 3 ................................. Other Comprehensive Income
Laporan Perubahan Ekuitas......................................... 4 ................................... Statement of Changes in Equity
Laporan Arus Kas........................................................ 5-6 ............................................. Statement of Cash Flows
Catatan atas Laporan Keuangan.................................. 7-129 ............................... Notes to the Financial Statements
***************************
Page 295
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen Independent Auditor’s Report
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 1/1/I/2024
Pemegang Saham, Dewan Komisaris, dan Direksi The Shareholders and the Boards of
Commissioners and Directors
PT Mandiri Tunas Finance PT Mandiri Tunas Finance
Opini Opinion
Kami telah mengaudit laporan keuangan We have audited the accompanying financial
PT Mandiri Tunas Finance (“Perusahaan”) statements of PT Mandiri Tunas Finance (the
terlampir, yang terdiri dari laporan posisi “Company”), which comprise the statement of
keuangan tanggal 31 Desember 2023, serta financial position as of 31 December 2023, and
laporan laba rugi dan penghasilan komprehensif the statements of profit or loss and other
lain, laporan perubahan ekuitas, dan laporan arus comprehensive income, statement of changes in
kas untuk tahun yang berakhir pada tanggal equity, and statement of cash flows for the year
tersebut, serta catatan atas laporan keuangan, then ended, and notes to the financial
termasuk informasi kebijakan akuntansi material. statements, including material accounting policy
information.
Menurut opini kami, laporan keuangan terlampir In our opinion, the accompanying financial
menyajikan secara wajar, dalam semua hal yang statements present fairly, in all material
material, posisi keuangan Perusahaan tanggal respects, the financial position of the Company as
31 Desember 2023, serta kinerja keuangan dan of 31 December 2023 and its financial
arus kasnya untuk tahun yang berakhir pada performance and cash flows for the year then
tanggal tersebut, sesuai dengan Standar Akuntansi ended, in accordance with Indonesian Financial
Keuangan di Indonesia. Accounting Standards.
i
Page 296
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Basis opini Basis for opinion
Kami melaksanakan audit kami berdasarkan We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Institut Standards on Auditing established by the
Akuntan Publik Indonesia (“IAPI”). Tanggung jawab Indonesian Institute of Certified Public
kami menurut standar tersebut diuraikan lebih Accountants (“IICPA”). Our responsibilities under
lanjut dalam paragraf Tanggung Jawab Auditor those standards are further described in the
terhadap Audit atas Laporan Keuangan pada Auditor’s Responsibilities for the Audit of the
laporan kami. Kami independen terhadap Financial Statements paragraph of our report.
Perusahaan berdasarkan ketentuan etika yang We are independent of the Company in
relevan dalam audit kami atas laporan keuangan di accordance with the ethical requirements
Indonesia, dan kami telah memenuhi tanggung relevant to our audit of the financial statements
jawab etika lainnya berdasarkan ketentuan in Indonesia, and we have fulfilled our other
tersebut. Kami yakin bahwa bukti audit yang telah ethical responsibilities in accordance with such
kami peroleh adalah cukup dan tepat untuk requirements. We believe that the audit evidence
menyediakan suatu basis bagi opini kami. we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Hal audit utama Key audit matters
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our
pertimbangan profesional kami, merupakan hal-hal professional judgment, were of most significance
paling signifikan dalam audit kami atas laporan in our audit of the financial statements of the
keuangan periode kini. Hal audit utama tersebut current period. Such key audit matters were
disampaikan dalam konteks audit kami atas addressed in the context of our audit of the
laporan keuangan secara keseluruhan dan dalam financial statements taken as a whole and in
merumuskan opini audit kami terhadapnya, dan forming our audit opinion thereon, and we do not
kami tidak menyatakan suatu opini audit terpisah provide a separate audit opinion on such key
atas hal audit utama tersebut. Untuk hal audit audit matters. For the key audit matter below,
utama di bawah ini, penjelasan kami tentang our description of how our audit addressed such
bagaimana audit kami merespons hal tersebut key audit matter is provided in such context.
disampaikan dalam konteks tersebut.
Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
dijelaskan dalam paragraf Tanggung Jawab the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan Financial Statements paragraph of our report,
pada laporan kami, termasuk sehubungan dengan including in relation to the key audit matter
hal audit utama yang dikomunikasikan di bawah ini. communicated below. Accordingly, our audit
Oleh karena itu, audit kami mencakup pelaksanaan included the performance of procedures
prosedur yang dirancang untuk merespons designed to respond to our assessment of the
penilaian kami atas risiko kesalahan penyajian risks of material misstatement of the
material dalam laporan keuangan terlampir. Hasil accompanying financial statements. The results
prosedur audit kami, termasuk prosedur yang of our audit procedures, including the procedures
dilakukan untuk merespons hal audit utama di performed to address the key audit matter below,
bawah ini, memberikan dasar bagi opini kami atas provide the basis for our opinion on the
laporan keuangan terlampir. accompanying financial statements.
ii
Page 297
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Cadangan kerugian penurunan nilai atas piutang Allowance for impairment losses on consumer
pembiayaan konsumen, piutang sewa financing receivables, finance lease receivables
pembiayaan dan anjak piutang (piutang and factoring receivables (financing
pembiayaan) receivables)
Penjelasan atas hal audit utama: Description of key audit matter:
Seperti tercantum dalam Catatan 5, 6, dan 7 atas As stated in Notes 5, 6, and 7 to the
laporan keuangan, nilai tercatat atas piutang accompanying financial statements, the carrying
pembiayaan konsumen, piutang sewa pembiayaan, value of consumer financing receivables, finance
anjak piutang dan cadangan kerugian penurunan lease receivables, factoring receivables and the
nilai terkaitnya adalah signifikan terhadap laporan related allowances are significant to the
keuangan Perusahaan terlampir. Pada tanggal 31 Company’s accompanying financial statements.
Desember 2023, nilai cadangan kerugian As of December 31, 2023, the amounts of
penurunan nilai atas piutang pembiayaan allowance for impairment losses for consumer
konsumen, piutang sewa pembiayaan dan anjak financing receivables, finance lease receivables
piutang adalah masing-masing sebesar Rp347,8 and factoring receivables are Rp347.8 billion,
miliar, Rp69,2 miliar, dan Rp436 juta. Informasi Rp69.2 billion, and Rp436 million, respectively.
kebijakan akuntansi material atas cadangan The material accounting policy information of
kerugian penurunan nilai aset keuangan allowance for impairment losses of financial
diungkapkan dalam Catatan 2 dalam laporan assets are disclosed in Note 2 to the
keuangan terlampir. accompanying financial statements.
Penentuan cadangan kerugian penurunan nilai Determination of allowance for impairment
aset keuangan tersebut di atas, memerlukan losses of the above-mentioned financial assets
pertimbangan dan memiliki ketidakpastian requires judgement and subject to estimation
estimasi mencakup penentuan model untuk uncertainty which includes determining the
menghitung cadangan kerugian penurunan nilai, model to calculate allowance for impairment
identifikasi eksposur kredit yang mengalami losses, identification of credit exposures with
penurunan kualitas kredit yang signifikan, dan significant deterioration in credit quality, and
penentuan asumsi yang digunakan dalam model determining assumptions used in the allowance
perhitungan cadangan kerugian penurunan nilai, for impairment losses calculation models,
termasuk faktor ekonomi makro berorientasi masa including forward-looking macroeconomics
depan. factors.
Karena penentuan cadangan kerugian penurunan Because the determination for allowance for
nilai piutang pembiayaan konsumen, piutang sewa impairment losses on consumer financing
pembiayaan dan tagihan anjak piutang melibatkan receivables, finance lease receivables and
pertimbangan dan estimasi signifikan dari factoring receivables involves significant
manajemen dan nilai tercatat yang signifikan, judgments and estimates from the management
maka hal ini adalah hal audit utama bagi kami. and the carrying amounts are significant, it is a
key audit matter for us.
iii
Page 298
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Cadangan kerugian penurunan nilai atas piutang Allowance for impairment losses on consumer
pembiayaan konsumen, piutang sewa financing receivables, finance lease receivables
pembiayaan dan anjak piutang (piutang and factoring receivables (financing
pembiayaan) (lanjutan) receivables) (continued)
Respon audit: Audit response:
Kami menguji kontrol utama atas proses We tested the key controls over the process of
pemberian, pencatatan, dan pengawasan piutang origination, recording, and monitoring of the
pembiayaan konsumen, piutang sewa pembiayaan consumer financing receivables, finance lease
dan anjak piutang. Kami memperoleh pemahaman, receivables and factoring receivables. We
menilai metodologi pengukuran penurunan nilai, obtained understanding and assessed
dan melakukan validasi model pencadangan impairment measurement methodologies, and
kerugian penurunan nilai, serta data masukan, validated allowance for impairment losses’
dasar dan menilai kewajaran atas asumsi yang models, inputs, bases and assessed
digunakan oleh Perusahaan dalam menghitung reasonableness of assumptions used by the
cadangan kerugian penurunan nilai. Kami menguji Company in calculating the allowance for
tiga tahapan kualitas kredit portofolio sesuai impairment losses. We tested the classification
dengan kriteria tingkatan (staging) yang disusun into three stage credit quality of loans portfolio in
oleh Perusahaan untuk piutang pembiayaan accordance with staging criteria developed by the
konsumen, piutang sewa pembiayaan dan anjak Company for consumer financing receivables,
piutang. Kami membandingkan pengalaman finance lease receivables and factoring
historis dengan keadaan saat ini dan kerugian receivables. We compared the historical
terkini yang terjadi dalam portofolio, serta menilai experience with the current circumstances and
kewajaran atas penyesuaian berorientasi masa the recent losses incurred in the portfolios, and
depan, analisis faktor ekonomi makro, dan assessed reasonableness of forward-looking
beberapa skenario probabilitas tertimbang untuk adjustments, macroeconomic factor analysis,
piutang pembiayaan konsumen, piutang sewa and probability-weighted multiple scenarios for
pembiayaan dan anjak piutang. consumer financing receivables, finance lease
receivables and factoring receivables.
Kami menilai apakah pengungkapan di laporan We assessed whether the financial statements
keuangan cukup dan secara memadai disclosures are adequately and appropriately
mencerminkan eksposur Perusahaan terhadap reflecting the Company’s exposures to credit risk.
risiko kredit. Kami melibatkan pakar auditor We involved our auditor’s internal expert to assist
internal kami untuk membantu kami dalam us in the performance of th e above procedures
melakukan prosedur-prosedur di atas ketika when their specific skills are needed.
keahlian spesifik mereka diperlukan
Informasi lain Other information
Manajemen bertanggung jawab atas informasi lain. Management is responsible for the other
Informasi lain terdiri dari informasi yang tercantum information. Other information comprises the
dalam Laporan Tahunan 2023 (“Laporan information included in the Annual Report 2023
Tahunan”) selain laporan keuangan terlampir dan (the “Annual Report”) other than the
laporan auditor independen kami. Laporan accompanying financial statements and our
Tahunan diharapkan akan tersedia bagi kami independent auditor’s report thereon. The
setelah tanggal laporan auditor independen ini. Annual Report is expected to be made available
to us after the date of this independent auditors’
report.
iv
Page 299
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Cadangan kerugian penurunan nilai atas piutang Allowance for impairment losses on consumer
pembiayaan konsumen, piutang sewa financing receivables, finance lease receivables
pembiayaan dan anjak piutang (piutang and factoring receivables (financing
pembiayaan) (lanjutan) receivables) (continued)
Informasi lain (lanjutan) Other information (continued)
Opini audit kami atas laporan keuangan terlampir Our opinion on the accompanying financial
tidak mencakup Laporan Tahunan, dan oleh karena statements does not cover the Annual Report,
itu, kami tidak menyatakan bentuk keyakinan and accordingly, we do not express any form of
apapun atas Laporan Tahunan tersebut. assurance on the Annual Report.
Sehubungan dengan audit kami atas laporan In connection with our audit of the accompanying
keuangan terlampir, tanggung jawab kami adalah financial statements, our responsibility is to read
untuk membaca Laporan Tahunan ketika tersedia the Annual Report when it becomes available
dan, dalam melaksanakannya, mempertimbangkan and, in doing so, consider whether the Annual
apakah Laporan Tahunan mengandung Report is materially inconsistent with the
ketidakkonsistensian material dengan laporan accompanying financial statements or our
keuangan terlampir atau pemahaman yang kami knowledge obtained in the audit, or otherwise
peroleh selama audit, atau mengandung kesalahan appears to be materially misstated.
penyajian material.
Ketika kami membaca Laporan Tahunan, jika kami When we read the Annual Report, if we conclude
menyimpulkan bahwa terdapat suatu kesalahan that there is a material misstatement therein, we
penyajian material di dalamnya, kami diharuskan are required to communicate the matter to those
untuk mengomunikasikan hal tersebut kepada charged with governance and take appropriate
pihak yang bertanggung jawab atas tata kelola dan actions based on the applicable laws and
melakukan tindakan yang tepat berdasarkan regulations.
peraturan perundang-undangan yang berlaku.
Tanggung jawab manajemen dan pihak yang Responsibilities of management and those
bertanggung jawab atas tata kelola terhadap charged with governance for the financial
laporan keuangan statements
Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation
dan penyajian wajar laporan keuangan tersebut and fair presentation of financial statements in
sesuai dengan Standar Akuntansi Keuangan di accordance with Indonesian Financial Accounting
Indonesia, dan atas pengendalian internal yang Standards, and for such internal control as
dianggap perlu oleh manajemen untuk management determines is necessary to enable
memungkinkan penyusunan laporan keuangan the preparation of financial statements that are
yang bebas dari kesalahan penyajian material, baik free from material misstatement, whether due to
yang disebabkan oleh kecurangan maupun fraud or error.
kesalahan.
v
Page 300
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Tanggung jawab manajemen dan pihak yang Responsibilities of management and those
bertanggung jawab atas tata kelola terhadap charged with governance for the financial
laporan keuangan (lanjutan) statements (continued)
Dalam penyusunan laporan keuangan , manajemen In preparing the financial statements,
bertanggung jawab untuk menilai kemampuan management is responsible for assessing the
Perusahaan dalam mempertahankan Company’s ability to continue as a going concern,
kelangsungan usahanya, mengungkapkan, sesuai disclosing, as applicable, matters related to going
dengan kondisinya, hal-hal yang berkaitan dengan concern, and using the going concern basis of
kelangsungan usaha, dan menggunakan basis accounting, unless management either intends to
akuntansi kelangsungan usaha, kecuali manajemen liquidate the Company or to cease its operations,
memiliki intensi untuk melikuidasi Perusahaan atau or has no realistic alternative but to do so.
menghentikan operasinya atau tidak memiliki
alternatif yang realistis selain melaksanakannya.
Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible
bertanggung jawab untuk mengawasi proses for overseeing the Company’s financial reporting
pelaporan keuangan Perusahaan. process.
Tanggung jawab auditor terhadap audit atas Auditor’s responsibilities for the audit of the
laporan keuangan financial statements
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obtain reasonable
memadai tentang apakah laporan keuangan secara assurance about whether the financial
keseluruhan bebas dari kesalahan penyajian statements taken as a whole are free from
material, baik yang disebabkan oleh kecurangan material misstatement, whether due to fraud or
maupun kesalahan, dan untuk menerbitkan error, and to issue an independent auditor’s
laporan auditor independen yang mencakup opini report that includes our opinion. Reasonable
kami. Keyakinan memadai merupakan suatu assurance is a high level of assurance, but is not
tingkat keyakinan tinggi, namun bukan merupakan a guarantee that an audit conducted in
suatu jaminan bahwa audit yang dilaksanakan accordance with Standards on Auditing
berdasarkan Standar Audit yang ditetapkan oleh established by the IICPA will always detect a
IAPI akan selalu mendeteksi kesalahan penyajian material misstatement when it exists.
material ketika hal tersebut ada. Kesalahan Misstatements can arise from fraud or error and
penyajian dapat disebabkan oleh kecurangan are considered material if, individually or in the
maupun kesalahan dan dianggap material jika, baik aggregate, they could reasonably be expected to
secara individual maupun agregat, dapat influence the economic decisions of users taken
diekspektasikan secara wajar akan memengaruhi on the basis of these financial statements.
keputusan ekonomi yang diambil oleh pengguna
berdasarkan laporan keuangan tersebut.
vi
Page 301
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Tanggung jawab auditor terhadap audit atas Auditor’s responsibilities for the audit of the
laporan keuangan (lanjutan) financial statements (continued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards
Standar Audit yang ditetapkan oleh IAPI, kami on Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga:
Mengidentifikasi dan menilai risiko kesalahan Identify and assess the risks of material
penyajian material dalam laporan keuangan, misstatement of the financial statements,
baik yang disebabkan oleh kecurangan maupun whether due to fraud or error, design and
kesalahan, mendesain dan melaksanakan perform audit procedures responsive to such
prosedur audit yang responsif terhadap risiko risks, and obtain audit evidence that is
tersebut, serta memeroleh bukti audit yang sufficient and appropriate to provide a basis
cukup dan tepat untuk menyediakan basis bagi for our opinion. The risk of not detecting a
opini kami. Risiko tidak terdeteksinya suatu material misstatement resulting from fraud is
kesalahan penyajian material yang disebabkan higher than for one resulting from error, as
oleh kecurangan lebih tinggi dari yang fraud may involve collusion, forgery,
disebabkan oleh kesalahan, karena kecurangan intentional omissions, misrepresentations, or
dapat melibatkan kolusi, pemalsuan, override of internal control.
penghilangan secara sengaja, pernyataan
salah, atau pengabaian atas pengendalian
internal.
Memeroleh suatu pemahaman tentang Obtain an understanding of internal control
pengendalian internal yang relevan dengan relevant to the audit in order to design audit
audit untuk mendesain prosedur audit yang procedures that are appropriate in the
tepat sesuai dengan kondisinya, tetapi bukan circumstances, but not for the purpose of
untuk tujuan menyatakan opini atas expressing an opinion on the effectiveness of
keefektivitasan pengendalian internal the Company’s internal control.
Perusahaan.
Mengevaluasi ketepatan kebijakan akuntansi Evaluate the appropriateness of accounting
yang digunakan serta kewajaran estimasi policies used and the reasonableness of
akuntansi dan pengungkapan terkait yang accounting estimates and related disclosures
dibuat oleh manajemen. made by management.
vii
Page 302
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 00026/2.1032/AU.1/09/1008- Report No. 00026/2.1032/AU.1/09/1008-
1/1/I/2024 (lanjutan) 1/1/I/2024 (continued)
Tanggung jawab auditor terhadap audit atas Auditor’s responsibilities for the audit of the
laporan keuangan (lanjutan) financial statements (continued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards
Standar Audit yang ditetapkan oleh IAPI, kami on Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Menyimpulkan ketepatan penggunaan basis Conclude on the appropriateness of
akuntansi kelangsungan usaha oleh management's use of the going concern basis
manajemen dan, berdasarkan bukti audit yang of accounting and, based on the audit
diperoleh, apakah terdapat suatu evidence obtained, whether a material
ketidakpastian material yang terkait dengan uncertainty exists related to events or
peristiwa atau kondisi yang dapat conditions that may cast significant doubt on
menyebabkan keraguan signifikan atas the Company's ability to continue as a going
kemampuan Perusahaan untuk concern. If we conclude that a material
mempertahankan kelangsungan usahanya. uncertainty exists, we are required to draw
Ketika kami menyimpulkan bahwa terdapat attention in our independent auditor’s report
suatu ketidakpastian material, kami diharuskan to the related disclosures in the financial
untuk menarik perhatian dalam laporan auditor statements or, if such disclosures are
independen kami ke pengungkapan terkait inadequate, to modify our opinion. Our
dalam laporan keuangan atau, jika conclusion is based on the audit evidence
pengungkapan tersebut tidak memadai, obtained up to the date of our independent
memodifikasi opini kami. Kesimpulan kami auditor’s report. However, future events or
didasarkan pada bukti audit yang diperoleh conditions may cause the Company to cease
hingga tanggal laporan auditor independen to continue as a going concern.
kami. Namun, peristiwa atau kondisi masa
depan dapat menyebabkan Perusahaan tidak
dapat mempertahankan kelangsungan
usahanya.
Mengevaluasi penyajian, struktur, dan isi Evaluate the overall presentation, structure,
laporan keuangan secara keseluruhan, and content of the financial statements,
termasuk pengungkapannya, dan apakah including the disclosures, and whether the
laporan keuangan mencerminkan transaksi dan financial statements represent the underlying
peristiwa yang mendasarinya dengan suatu transactions and events in a manner that
cara yang mencapai penyajian wajar. achieves fair presentation.
Kami mengomunikasikan kepada pihak yang We communicate with those charged with
bertanggung jawab atas tata kelola mengenai, governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang planned scope and timing of the audit and
direncanakan atas audit serta temuan audit significant audit findings, including any
signifikan, termasuk setiap defisiensi signifikan significant deficiencies in internal control that we
dalam pengendalian internal yang teridentifikasi identify during our audit.
oleh kami selama audit.
viii
Page 303
Page 304
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN POSISI KEUANGAN STATEMENTS OF FINANCIAL POSITION
Tanggal 31 Desember 2023 As of 31 December 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/ 31 Desember/ 31 Desember/
Notes December 2023 December 2022
ASET ASSETS
2c,2f
Kas dan setara kas 4,27 Cash and cash equivalents
Kas 18.194 13.602 Cash on hand
Kas pada bank Cash in banks
Pihak ketiga 1.495 15.553 Third parties
Pihak berelasi 2s,4,26a 832.451 811.281 Related parties
852.140 840.436
2c,2d,2g,5,
Piutang pembiayaan konsumen 27,28,29 Consumer financing receivables
Pihak ketiga 22.698.175 16.666.569 Third parties
Pihak berelasi 2s,5,26a 11.542 7.846 Related parties
22.709.717 16.674.415
Dikurangi: cadangan kerugian Less: allowance for
penurunan nilai 2j,5 (347.894) (333.578) impairment losses
22.361.823 16.340.837
2c,2d,2h,6,
Piutang sewa pembiayaan 27,28,29 Finance lease receivables
Pihak ketiga 5.416.865 5.782.025 Third parties
Dikurangi: cadangan kerugian Less: allowance for
penurunan nilai 2j,6 (69.293) (138.679) impairment losses
5.347.572 5.643.346
2c,2d,2i,7,
Anjak piutang 27,28 Factoring receivables
Pihak ketiga 35.758 42.469 Third parties
Dikurangi: cadangan kerugian Less: allowance for
penurunan nilai 2j,7 (436) (9.493) impairment losses
35.322 32.976
Piutang lain-lain 2c,8,27 Other receivables
Pihak ketiga 119.669 89.923 Third parties
Pihak berelasi 2s,8,26a 547.483 499.942 Related parties
667.152 589.865
Dikurangi: cadangan kerugian Less: allowance for
penurunan nilai 2j,8 (44.298) (140.425) impairment losses
622.854 449.440
Aset pajak tangguhan 2m,9c 100.789 116.452 Deferred tax assets
Piutang derivatif 2c,2t,16,27,28 28.933 24.534 Derivative receivables
Aset tetap Fixed assets
(setelah dikurangi akumulasi (net of accumulated
penyusutan masing-masing depreciation of Rp410,060 and
sebesar Rp410.060 dan Rp347.030 Rp347,030 as of
pada tanggal 31 Desember 2023 31 December 2023 and
dan 2022) 2l,10 283.625 219.763 2022, respectively)
2c,2k,11,
Aset lain-lain 27,28 Other assets
Pihak ketiga 93.432 60.931 Third parties
Pihak berelasi 25,11,26a 902 251 Related parties
TOTAL ASET 29.727.392 23.728.966 TOTAL ASSETS
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian yang tidak terpisahkan dari laporan keuangan form an integral part of these financial statements
secara keseluruhan. taken as a whole.
1
Page 305
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN POSISI KEUANGAN (lanjutan) STATEMENT OF FINANCIAL POSITION (continued)
Tanggal 31 Desember 2023 As of 31 December 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/ 31 Desember/ 31 Desember/
Notes December 2023 December 2022
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
Utang usaha 2c,12,27,29 1.017.137 702.291 Trade payables
Utang lain-lain 2c,13,27 Other payables
Pihak ketiga 190.916 199.930 Third parties
Pihak berelasi 2s,13,26b 56.805 100.736 Related parties
Utang pajak kini 2m,9a 112.000 125.498 Current tax liabilities
Beban yang masih harus dibayar 2c,14,27 Accrued expenses
Pihak ketiga 257.626 308.087 Third parties
Pihak berelasi 2s,14,26b 4.472 3.535 Related parties
Pinjaman yang diterima 2c,2d,2e,15,27,28 Borrowings
Pihak ketiga 15.242.400 12.748.612 Third parties
Pihak berelasi 2s,15,26b 2.891.252 1.944.839 Related parties
18.133.652 14.693.451
Biaya provisi yang belum
diamortisasi 15 (36.937) (31.564) Unamortized provision cost
18.096.715 14.661.887
2c,2d,2r,
Surat berharga yang diterbitkan 17,27,28 Securities issued
Pihak ketiga 5.002.750 3.876.405 Third parties
Pihak berelasi 2s,17,26b 693.000 468.500 Related parties
5.695.750 4.344.905
Beban emisi yang belum
diamortisasi 17 (8.235) (5.668) Unamortized issuance cost
5.687.515 4.339.237
Liabilitas imbalan kerja karyawan 2n,18 274.546 194.940 Employee benefits obligation
TOTAL LIABILITAS 25.697.732 20.636.141 TOTAL LIABILITIES
EKUITAS EQUITY
Modal saham Share capital
Authorized capital -
Modal dasar - 10.000.000.000 10,000,000,000 ordinary
lembar saham biasa dengan shares with a par value
nilai nominal Rp100 (nilai penuh) of Rp100 (full amount)
per saham per share
Modal ditempatkan dan disetor Issued and fully paid up
penuh - 2.500.000.000 lembar capital - 2,500,000,000
saham 2o,19 250.000 250.000 ordinary shares
Penghasilan komprehensif lain: Other comprehensive income:
Pengukuran kembali
atas liabilitas imbalan Remeasurement of
kerja karyawan - neto 2n,18 (38.390) (30.198) employee benefits obligation - net
Keuntungan (kerugian) kumulatif
atas instrumen derivatif untuk Cumulative gain (loss) on derivative
lindung nilai arus kas - neto 2t,16 2.802 (6.188) instrument for cash flow hedges - net
Saldo laba Retained earnings
Sudah ditentukan penggunaannya 20 50.000 50.000 Appropriated
Belum ditentukan penggunaannya 3.765.248 2.829.211 Unappropriated
TOTAL EKUITAS 4.029.660 3.092.825 TOTAL EQUITY
TOTAL LIABILITAS DAN EKUITAS 29.727.392 23.728.966 TOTAL LIABILITIES AND EQUITY
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian yang tidak terpisahkan dari laporan keuangan form an integral part of these financial statements
secara keseluruhan. taken as a whole.
2
Page 306
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN LABA RUGI DAN PENGHASILAN STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN AND OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2023 31 December 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
Catatan/
Notes 2023 2022
PENDAPATAN REVENUE
Pembiayaan konsumen 21a,26c 3.000.350 2.437.004 Consumer financing
Sewa pembiayaan 21b 652.751 565.529 Financial lease
Anjak piutang 21c 909 9.715 Factoring
Simpanan bank 21d,26c 17.134 15.163 Deposit in bank
Lain-lain - neto 21e,26c 1.081.756 904.097 Others - net
Total pendapatan 4.752.900 3.931.508 Total revenue
BEBAN EXPENSES
Beban keuangan 2r,2s,22,26d (1.510.165) (1.249.572) Financial charges
Gaji dan tunjangan 2s,23,26d (802.194) (823.406) Salaries and benefits
Umum dan administrasi 24,26d (349.836) (327.436) General and administration
Penyisihan kerugian
penurunan nilai: Provision for impairment losses:
Pembiayaan konsumen 2c,2g,5 (697.613) (487.604) Consumer financing
Sewa pembiayaan 2c,2h,6 (7.050) (49.556) Financial leases
Anjak piutang 2c,2i,7 9.057 (11.063) Factoring
Piutang lain-lain 2c,8 96.127 (18.877) Other receivables
Total beban (3.261.674) (2.967.514) Total expenses
LABA SEBELUM BEBAN 1.491.226 963.994 INCOME BEFORE
PAJAK FINAL DAN FINAL TAX AND
PAJAK PENGHASILAN INCOME TAX EXPENSE
BEBAN PAJAK FINAL 2m (3.427) (3.033) FINAL TAX EXPENSE
LABA SEBELUM BEBAN 1.487.799 960.961 INCOME BEFORE
PAJAK PENGHASILAN INCOME TAX EXPENSE
,
BEBAN PAJAK PENGHASILAN 2m,9b (326.698) (210.748) INCOME TAX EXPENSE
LABA TAHUN BERJALAN 1.161.101 750.213 INCOME FOR THE YEAR
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE
LAIN INCOME
Pos yang tidak akan Item that will not be
direklasifikasi ke laba rugi: reclassified to profit or loss:
Pengukuran kembali
atas liabilitas imbalan kerja Remeasurement of employee
karyawan (10.502) 3.070 benefit obligation
Pajak penghasilan terkait 2.310 (675) Income tax effect
(8.192) 2.395
Pos yang akan Item that will be
direklasifikasi ke laba rugi: reclassified to profit or loss:
Bagian efektif dari keuntungan (kerugian) Effective portion of gain
instrumen lindung nilai dalam (loss) on hedging instruments
rangka lindung nilai arus kas 2t 11.525 (7.002) in a cash flow hedge
Pajak penghasilan terkait (2.535) 1.540 Income tax effect
8.990 (5.462)
Laba/(Rugi) penghasilan komprehensif lain- Other comprehensive income/(loss)
setelah pajak 798 (3.067) net of tax
TOTAL PENGHASILAN
KOMPREHENSIF TOTAL COMPREHENSIVE
TAHUN BERJALAN 1.161.899 747.146 INCOME FOR THE YEAR
LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE
(Nilai penuh) 2q,25 464 300 (Full amount)
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian yang tidak terpisahkan dari laporan keuangan form an integral part of these financial statements
secara keseluruhan. taken as a whole.
3
Page 307
The original financial statements included herein are in the Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN PERUBAHAN EKUITAS STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2023 31 December 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Keuntungan(kerugian)
kumulatif
atas instrumen
derivatif untuk
lindung nilai
arus kas- neto/
Pengukuran kembali Cumulative
atas liabilitas imbalan gain(loss) Saldo laba Saldo laba
kerja karyawan- neto/ on derivative sudah ditentukan belum ditentukan
Remeasurement of instrument for penggunaannya/ penggunaannya/
Catatan/ Modal saham/ employee benefits cash flow Appropriated Unappropriated Ekuitas/
Notes Share capital obligation- net hedges- net retained earnings retained earnings Equity
Saldo 31 Desember 2021 250.000 (32.593 ) (726) 50.000 2.128.173 2.394.854 Balance 31 December 2021
Pengukuran kembali atas liabilitas Remeasurement of employee
imbalan kerja karyawan - setelah pajak - 2.395 - - - 2.395 benefit obligation - net of tax
Kerugian bersih Net loss
atas instrumen derivatif untuk on derivative instrument
lindung nilai arus kas - - (5.462) - - (5.462) for cash flow hedging
Laba tahun berjalan 2022 - - - - 750.213 750.213 Income for the year 2022
Dividen yang dibayarkan 20 - - - - (49.175) (49.175) Dividends paid
Saldo 31 Desember 2022 250.000 (30.198 ) (6.188) 50.000 2.829.211 3.092.825 Balance 31 December 2022
Pengukuran kembali atas liabilitas Remeasurement of employee
imbalan kerja karyawan - setelah pajak - (8.192 ) - - - (8.192) benefit obligation - net of tax
Keuntungan bersih Net gain
atas instrumen derivatif untuk on derivative instrument
lindung nilai arus kas - - 8.990 - - 8.990 for cash flow hedging
Laba tahun berjalan 2023 - - - - 1.161.101 1.161.101 Income for the year 2023
Dividen yang dibayarkan 20 - - - - (225.064) (225.064) Dividends paid
Saldo 31 Desember 2023 250.000 (38.390 ) 2.802 50.000 3.765.248 4.029.660 Balance 31 December 2023
Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes to the financial statements form an integral part of these
laporan keuangan secara keseluruhan. financial statements taken as a whole.
4
Page 308
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2023 31 December 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
Catatan/
Notes 2023 2022
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS OPERASI OPERATING ACTIVITIES
Penerimaan kas dari konsumen: Cash receipts from customers:
Pembiayaan konsumen 24.720.154 21.507.345 Consumer financing
Sewa pembiayaan 4.099.252 3.845.288 Finance lease
Anjak piutang 7.000 401.193 Factoring
Pembiayaan bersama 12.782.010 11.436.484 Joint Financing
Pendapatan bunga Interest income from
simpanan bank 13.688 15.144 deposit in bank
Pendapatan penalti 21e 148.794 134.027 Late payment penalties
Penerimaan dari piutang Recovery from
yang telah dihapusbukukan 21e 179.645 152.667 written-off receivables
Premi asuransi 1.651.382 1.408.879 Insurance premiums
Penerimaan tagihan kelebihan pajak 9d - 20.697 Receipts of excess tax bill
Pengeluaran kas untuk: Cash disbursements for:
Pembayaran fasilitas Repayments of joint
pembiayaan bersama (10.632.638) (10.458.484) financing facilities
Pembayaran kepada
penyalur kendaraan (33.458.424) (28.489.839) Payments to car dealers
Pembayaran beban keuangan (1.492.506) (1.268.963) Payments for finance charges
Pembayaran pajak penghasilan (324.758) (133.626) Payments for income tax
Pembayaran gaji dan Payments for
tunjangan (772.663) (649.104) salaries and allowances
Pembayaran beban Payments for general and
umum dan administrasi (340.005) (264.328) administrative expenses
Pembayaran kepada perusahaan Payments to insurance
asuransi (1.001.429) (847.557) companies
Kas neto yang digunakan untuk Net cash used in
untuk aktivitas operasi (4.420.498) (3.190.177) operating activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
INVESTASI INVESTING ACTIVITIES
Perolehan aset tetap 10 (86.892) (49.896) Acquisition of fixed assets
Perolehan aset hak guna (32.191) (15.731) Acquisition of right-of-use assets
Penjualan aset tetap 10 129 355 Sales of fixed assets
Kas neto yang digunakan Net cash used in
untuk aktivitas investasi (118.954) (65.272) investing activities
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian yang tidak terpisahkan dari laporan keuangan form an integral part of these financial statements
secara keseluruhan. taken as a whole.
5
Page 309
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
LAPORAN ARUS KAS (lanjutan) STATEMENT OF CASH FLOWS (continued)
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2023 31 December 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
Catatan/
Notes 2023 2022
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
PENDANAAN FINANCING ACTIVITIES
Penerimaan pinjaman 32 17.276.376 20.402.395 Proceeds from borrowings
Penerimaan surat berharga
yang diterbitkan 32 1.822.845 1.228.055 Proceeds from securities issued
Pembayaran pinjaman 32 (13.829.050) (15.330.618) Repayment of borrowings
Pembayaran surat berharga Repayment of
yang diterbitkan 17,32 (472.000) (2.382.000) securities issued
Pembayaran beban emisi Repayment of securities
surat berharga 17 (6.283) (3.118) issuance costs
Pembayaran dividen kas 20 (225.064) (49.175) Payment of cash dividends
Pembayaran utang sewa 32 (15.668) (10.036) Payment of lease liabilities
Kas neto yang diperoleh dari Net cash provided by
aktivitas pendanaan 4.551.156 3.855.503 financing activities
Kenaikan neto Net increase in
kas dan setara kas 11.704 600.054 cash and cash equivalents
Kas dan setara kas pada Cash and cash equivalents
awal tahun 4 840.436 240.382 at beginning of year
Kas dan setara kas pada Cash and cash equivalents
akhir tahun 4 852.140 840.436 at end of year
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian yang tidak terpisahkan dari laporan keuangan form an integral part of these financial statements
secara keseluruhan. taken as a whole.
6
Page 310
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM 1. GENERAL INFORMATION
PT Mandiri Tunas Finance (“Perseroan”) didirikan PT Mandiri Tunas Finance (the “Company”) was
dengan nama PT Tunas Financindo Corporation incorporated with the name of PT Tunas Financindo
pada tanggal 17 Mei 1989 berdasarkan Akta Notaris Corporation on 17 May 1989 based on Notarial
Misahardi Wilamarta, S.H., Notaris di Jakarta, Deed of Misahardi Wilamarta, S.H., Notary in
No. 262. Akta pendirian ini disahkan oleh Menteri Jakarta, No. 262. The Companyʼs Articles of
Kehakiman dalam Surat Keputusan No. C2- Association was approved by the Ministry of Justice
4868.HT.01.01.THʼ89 tanggal 1 Juni 1989 serta in its Decision Letter No. C2-4868.HT.01.01.THʼ89
diumumkan dalam Lembaran Berita Negara Republik dated 1 June 1989 and were published in the State
Indonesia No. 57, Tambahan No. 1369 tanggal Gazette of the Republic of Indonesia No. 57,
18 Juli 1989. Pada tanggal 18 Agustus 2000, Supplement No. 1369 dated 18 July 1989. On
Perseroan melakukan perubahan nama menjadi 18 August 2000, the Company changed its name to
PT Tunas Financindo Sarana berdasarkan Akta PT Tunas Financindo Sarana based on Notarial
Notaris Adam Kasdarmadji S.H., M.H., Notaris di Deed of Adam Kasdarmadji S.H., M.H., Notary in
Jakarta No. 49. Akta perubahan ini disetujui oleh Jakarta No. 49. This deed was approved by the
Menteri Hukum dan Perundang-Undangan melalui Minister of Law and Regulation in its Decision Letter
Surat Keputusan No. C-21195HT.01.04.TH2000 No. C-21195HT.01.04.TH2000 dated
tanggal 22 September 2000. Pada tanggal 22 September 2000. On 30 November 2007, the
30 November 2007, Perseroan melakukan Company complied its Articles of Association to The
penyesuaian Anggaran Dasar terhadap Undang- Law No. 40 of 2007 concerning Limited Liability
Undang Nomor 40 Tahun 2007 tentang Perseroan Company based on Notarial Deed No. 94 of
Terbatas berdasarkan Akta Notaris No. 94, Herawati, Herawati, S.H., Notary in Jakarta. This deed was
S.H., Notaris di Jakarta. Akta tersebut approved by Minister of Law And Human Rights in
telah disetujui oleh Menteri Hukum dan its Decision Letter No.AHU-06708.AH.01.02.Tahun
Hak Asasi Manusia dalam Surat Keputusan 2008 dated 12 February 2008.
No. AHU-06708.AH.01.02.Tahun 2008 tanggal
12 Februari 2008.
Pada tanggal 26 Juni 2009, Perseroan mengubah On 26 June 2009, the Company changed its name
nama Perseroan menjadi PT Mandiri Tunas Finance to PT Mandiri Tunas Finance based on the
berdasarkan perubahan Anggaran Dasar sesuai amendment of the Articles of Association by the
dengan Akta Notaris No. 181 Dr. Irawan Soerodjo, Notarial Deed No. 181 of Dr. Irawan Soerodjo,
S.H.,Msi., Notaris di Jakarta. Anggaran Dasar S.H.,Msi., Notary in Jakarta. The Articles of
Perseroan telah mengalami beberapa kali Association has been amended from time to time,
perubahan, perubahan terakhir dengan Akta, where in the latest amendment by Deed No. 160
No. 160 tanggal 29 September 2023 yang dibuat dated 29 September 2023 made before
dihadapan Muhammad Kholid Artha, S.H., Notaris di Muhammad Kholid Artha, S.H., Notary in Jakarta.
Jakarta, yang telah memperoleh persetujuan dari has obtained approval from the Minister of Law and
Menteri Hukum dan Hak Asasi Manusia Republik Human Rights of the Republic of Indonesia as
Indonesia sebagaimana ternyata dalam Surat stated in Decree No. AHU-
Keputusan No. AHU-0060383.AH.01.02.TAHUN 0060383.AH.01.02.TAHUN 2023, dated 5 October
2023 tanggal 5 Oktober 2023. 2023.
Sesuai dengan Pasal 3 Anggaran Dasar Perseroan, Based on Article 3 of the Companyʼs Articles of
ruang lingkup kegiatan Perseroan adalah bergerak Association, the scope of activities of the Company
dalam bidang pembiayaan, yang meliputi: comprises of finance activities under:
a. Pembiayaan Investasi a. Investment financing
b. Pembiayaan Modal Kerja b. Working capital financing
c. Pembiayaan Multiguna c. Multi purposes financing
d. Kegiatan usaha pembiayaan lain berdasarkan d. Other financing activities based on the
persetujuan Otoritas Jasa Keuangan approval of Financial Services Authority.
e. Sewa operasi (operating lease) dan/atau e. Operating lease and/or fee based activities as
kegiatan berbasis imbal jasa sepanjang tidak long as not contradictory with the regulation in
bertentangan dengan peraturan perundang- financial services sector.
undangan di sektor jasa keuangan
7
Page 311
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Kegiatan komersial Perseroan dimulai pada tahun The Company commenced commercial activities in
1989. Perseroan memperoleh ijin usaha sebagai 1989. The Company obtained a business license to
Perseroan pembiayaan dalam bidang sewa guna operate in leasing, factoring and consumer
usaha, anjak piutang dan pembiayaan konsumen dari financing from the Ministry of Finance in its
Menteri Keuangan berdasarkan Surat Keputusan Decision Letter No. 1021/KMK.013/1989 dated
No. 1021/KMK.013/1989 tanggal 7 September 1989, 7 September 1989, as amended by the Decision
sebagaimana diubah dengan Surat Keputusan Letter No. 54/KMK.013/1992 dated 15 January
No. 54/KMK.013/1992 tanggal 15 Januari 1992 dan 1992 and No. 19/KMK.017/2001 dated 19 January
No. 19/KMK.017/2001 tanggal 19 Januari 2001. 2001. The latest amendment was by the Ministry of
Amandemen terakhir diubah dengan Surat Finance Decision Letter No. KEP-352/KM.10/2009
Keputusan Menteri Keuangan dated 29 September 2009. Currently, the Company
No. KEP-352/KM.10/2009 tanggal 29 September is engaged in investing, working capital,
2009. Saat ini, Perseroan bergerak dalam kegiatan multipurpose, factoring and other financing
usaha pembiayaan investasi, modal kerja, multiguna, activities based on the approval of Financial
anjak piutang dan kegiatan usaha lain berdasarkan Services Authority.
persetujuan Otoritas Jasa Keuangan.
Perseroan berdomisili di Jakarta Pusat dan The Company is domiciled in Central Jakarta and
mempunyai 124 kantor cabang dan 9 kantor selain has 124 branches and 9 other branches that are
kantor cabang yang berlokasi dibeberapa tempat di located through other parts of Indonesia.
Indonesia.
Pada tanggal 6 Februari 2009, PT Tunas Ridean Tbk. On 6 February 2009, PT Tunas Ridean Tbk. and
dan PT Tunas Mobilindo Parama mengalihkan PT Tunas Mobilindo Parama have transferred their
kepemilikan sahamnya di Perseroan sejumlah ownership in the Company amounting to
masing-masing 650.000.000 lembar saham dan 650,000,000 shares and 625,000,000 shares,
625.000.000 lembar saham atau sebesar 51% dari respectively, representing 51% of total issued and
total saham ditempatkan dan disetor penuh kepada fully paid-up shares, to PT Bank Mandiri (Persero)
PT Bank Mandiri (Persero) Tbk. dengan akta notaris Tbk. by the Notarial Deed No. 8 of Dr. A.
No. 8, Dr. A. Partomuan Pohan, S.H., LL.M., tanggal Partomuan Pohan, S.H., LL.M., dated 6 February
6 Februari 2009. 2009.
Perseroan menerbitkan dan mendaftarkan Obligasi The Company issued and registered the following
Mandiri Tunas Finance ke Bursa Efek Indonesia Mandiri Tunas Finance Bonds in the Indonesia
sebagai berikut: Stock Exchange
Obligasi/Bonds Tanggal terbit/Issue date Nilai nominal/Nominal value
___________________ ______________________________________________ ____________________________________
I 29 Mei/May 2003 500.000
II 22 Juni/June 2004 350.000
III 8 Juli/July 2005 350.000
IV 22 Februari/February 2007 600.000
V 20 Februari/February 2008 600.000
VI 6 Mei/May 2011 600.000
Berkelanjutan I tahap I/ Continuing Bonds I Phase I 5 Juni/June 2013 500.000
Berkelanjutan I tahap II/ Continuing Bonds I Phase II 23 Mei/May 2014 600.000
Berkelanjutan I tahap III/ Continuing Bonds I Phase III 9 Juni/June 2015 150.000
Berkelanjutan II tahap I/ Continuing Bonds II Phase I 18 Desember/December 2015 600.000
Berkelanjutan II tahap II/ Continuing Bonds II Phase II 1 Juni/June 2016 1.400.000
Berkelanjutan III tahap I/ Continuing Bonds III Phase I 7 Oktober/October 2016 500.000
Berkelanjutan III tahap II/ Continuing Bonds III Phase II 8 Mei/May 2017 850.000
Berkelanjutan IV tahap I/ Continuing Bonds IV Phase I 8 Januari/January 2019 1.000.000
Berkelanjutan IV tahap II/ Continuing Bonds IV Phase II 26 Juli/July 2019 2.000.000
Berkelanjutan V tahap I/ Continuing Bonds V Phase I 13 Agustus/August 2020 858.000
Berkelanjutan V tahap II/ Continuing Bonds V Phase II 20 Mei/May 2021 1.400.850
Berkelanjutan V tahap III/ Continuing Bonds V Phase III 23 Februari/February 2022 1.228.055
Berkelanjutan VI tahap I/ Continuing Bonds VI Phase I 27 Juni/June 2023 691.735
Berkelanjutan VI tahap II/Continuing Bonds VI Phase II 27 September/September 2023 1.131.110
8
Page 312
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Pada tanggal 8 Januari 2019, Perseroan telah On 8 January 2019, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan IV Tahap I Tahun 2019 (”Obligasi Bonds IV Phase I Year 2019 (“Continuing Bonds IV
Berkelanjutan IV Tahap I”) ke Bursa Efek Indonesia. Phase I”) in the Indonesia Stock Exchange. The
Penerbitan Obligasi Berkelanjutan IV Tahap I ini serta issuance of Continuing Bonds IV Phase I and
Penunjukan Wali Amanat dilakukan berdasarkan appointment of Trustee based on Trusteeship
Akta Perjanjian Perwaliamanatan Agreements No. 18 dated 9 October 2018 and
No. 18 tanggal 9 Oktober 2018 dan perubahan amendment to restatement of Trusteeship
pernyataan kembali Perjanjian Perwaliamanatan Agreements Continuing Bonds IV Phase I Year
Obligasi Berkelanjutan IV Mandiri Tunas Finance 2018 No.18 dated 19 November 2018 and then
Tahap I Tahun 2018 No.18 tanggal 19 November amendment I of Trusteeship Agreements
2018 serta perubahan I Perjanjian Penjaminan Continuing Bonds IV Phase I Year 2019 No.17
Perwaliamanatan Obligasi Berkelanjutan IV Mandiri dated 14 December 2018 were signed by the
Tunas Finance Tahap I Tahun 2019 No.17 tanggal Company and PT Bank Rakyat Indonesia (Persero)
14 Desember 2018 yang dibuat antara Perseroan Tbk, as the Trustee for the Continuing Bonds IV
dengan PT Bank Rakyat Indonesia (Persero) Tbk, Phase I.
yang bertindak selaku Wali Amanat pemegang
Obligasi Berkelanjutan IV Tahap I.
Pada tanggal 26 Juli 2019, Perseroan telah On 26 July 2019, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan IV Tahap II Tahun 2019 (”Obligasi Bonds IV Phase II Year 2019 (“Continuing Bonds
Berkelanjutan IV Tahap II”) ke Bursa Efek Indonesia. IV Phase II”) in the Indonesia Stock Exchange. The
Penerbitan Obligasi Berkelanjutan IV Tahap II ini issuance of Continuing Bonds IV Phase II and
serta Penunjukan Wali Amanat dilakukan appointment of Trustee based on Trusteeship
berdasarkan Akta Perjanjian Perwaliamanatan Agreements No. 12 dated 8 July 2019 were signed
No. 12 tanggal 8 Juli 2019 yang dibuat antara by the Company and PT Bank Rakyat Indonesia
Perseroan dengan PT Bank Rakyat Indonesia (Persero) Tbk, as the Trustee for the Continuing
(Persero) Tbk, yang bertindak selaku Wali Amanat Bonds IV Phase II.
pemegang Obligasi Berkelanjutan IV Tahap II.
Pada tanggal 13 Agustus 2020, Perseroan telah On 13 August 2020, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan V Tahap I Tahun 2020 (”Obligasi Bonds V Phase I Year 2020 (“Continuing Bonds V
Berkelanjutan V Tahap I”) ke Bursa Efek Indonesia. Phase I”) in the Indonesia Stock Exchange. The
Penerbitan Obligasi Berkelanjutan V Tahap I ini serta issuance of Continuing Bonds V Phase I and
Penunjukan Wali Amanat dilakukan berdasarkan appointment of Trustee based on Trusteeship
Akta Perjanjian Perwaliamanatan No. 12 tanggal Agreements No. 12 dated 11 May 2020 were
11 Mei 2020 yang dibuat antara Perseroan dengan signed by the Company and PT Bank Rakyat
PT Bank Rakyat Indonesia (Persero) Tbk, yang Indonesia (Persero) Tbk, as the Trustee for the
bertindak selaku Wali Amanat pemegang Obligasi Continuing Bonds V Phase I.
Berkelanjutan V Tahap I.
Pada tanggal 20 Mei 2021, Perseroan telah On 20 May 2021, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan V Tahap II Tahun 2021 (”Obligasi Bonds V Phase II Year 2021 (“Continuing Bonds V
Berkelanjutan V Tahap II”) ke Bursa Efek Indonesia. Phase II”) in the Indonesia Stock Exchange. The
Penerbitan Obligasi Berkelanjutan V Tahap II ini serta issuance of Continuing Bonds V Phase II and
Penunjukan Wali Amanat dilakukan berdasarkan appointment of Trustee based on Trusteeship
Akta Perjanjian Perwaliamanatan No. 25 tanggal Agreements No. 25 dated 23 April 2021 were
23 April 2021 yang dibuat antara Perseroan dengan signed by the Company and PT Bank Rakyat
PT Bank Rakyat Indonesia (Persero) Tbk, yang Indonesia (Persero) Tbk, as the Trustee for the
bertindak selaku Wali Amanat pemegang Obligasi Continuing Bonds V Phase II.
Berkelanjutan V Tahap II.
9
Page 313
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Pada tanggal 23 Februari 2022, Perseroan telah On 23 February 2022, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan V Tahap III Tahun 2022 (”Obligasi Bonds V Phase III Year 2022 (“Continuing Bonds
Berkelanjutan V Tahap III”) ke Bursa Efek Indonesia. V Phase III”) in the Indonesia Stock Exchange. The
Penerbitan Obligasi Berkelanjutan V Tahap III ini issuance of Continuing Bonds V Phase III and
serta Penunjukan Wali Amanat dilakukan appointment of Trustee based on Trusteeship
berdasarkan Akta Perjanjian Perwaliamanatan No. 1 Agreements No. 1 dated 2 February 2022 were
tanggal 2 Februari 2022 yang dibuat antara signed by the Company and PT Bank Rakyat
Perseroan dengan PT Bank Rakyat Indonesia Indonesia (Persero) Tbk, as the Trustee for the
(Persero) Tbk, yang bertindak selaku Wali Amanat Continuing Bonds V Phase III.
pemegang Obligasi Berkelanjutan V Tahap III.
Pada tanggal 27 Juni 2023, Perseroan telah On 27 June 2023, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan VI Tahap I Tahun 2023 (”Obligasi Bonds VI Phase I Year 2023 (“Continuing Bonds
Berkelanjutan VI Tahap I”) ke Bursa Efek Indonesia. VI Phase I”) in the Indonesia Stock Exchange. The
Penerbitan Obligasi Berkelanjutan VI Tahap I ini serta issuance of Continuing Bonds VI Phase I and
Penunjukan Wali Amanat dilakukan berdasarkan appointment of Trustee based on Trusteeship
Akta Perjanjian Perwaliamanatan No. 29 tanggal Agreements No. 29 dated 17 March 2023 were
17 Maret 2023 yang dibuat antara Perseroan dengan signed by the Company and PT Bank Rakyat
PT Bank Rakyat Indonesia (Persero) Tbk, yang Indonesia (Persero) Tbk, as the Trustee for the
bertindak selaku Wali Amanat pemegang Obligasi Continuing Bonds VI Phase I.
Berkelanjutan VI Tahap I.
Pada tanggal 27 September 2023, Perseroan telah On 27 September 2023, the Company issued and
menerbitkan dan mendaftarkan Obligasi registered Mandiri Tunas Finance Continuing
Berkelanjutan VI Tahap II Tahun 2023 (”Obligasi Bonds VI Phase II Year 2023 (“Continuing Bonds
Berkelanjutan VI Tahap II”) ke Bursa Efek Indonesia. VI Phase II”) in the Indonesia Stock Exchange.
Penerbitan Obligasi Berkelanjutan VI Tahap II ini The issuance of Continuing Bonds VI Phase II and
serta Penunjukan Wali Amanat dilakukan appointment of Trustee based on Trusteeship
berdasarkan Akta Perjanjian Perwaliamanatan No. 02 Agreements No. 02 dated 6 September 2023 were
tanggal 6 September 2023 yang dibuat antara signed by the Company and PT Bank Rakyat
Perseroan dengan PT Bank Rakyat Indonesia Indonesia (Persero) Tbk, as the Trustee for the
(Persero) Tbk, yang bertindak selaku Wali Amanat Continuing Bonds VI Phase II.
pemegang Obligasi Berkelanjutan VI Tahap II.
Perubahan susunan Direksi dan anggota Dewan The latest change in the composition of Directors
Komisaris yang terakhir dilakukan pada tanggal and the composition of the Board of Commissioner
28 Juni 2023, sebagaimana ternyata dalam Akta No. was conducted on 28 June 2023 as stated in the
138 yang dibuat oleh Muhammad Kholid Artha, S.H., Notary Deed No. 138 of Muhammad Kholid Artha,
Notaris di Jakarta. Penerimaan pemberitahuan S.H., Notary in Jakarta. The notification receipt of
perubahan data Perseroannya telah diterima dan the change in the corporate data has been received
dicatat di dalam database sistem administrasi Badan and recorded in the database administration
Hukum di Kementrian Hukum dan Hak Asasi Manusia system of legal entity in the Ministry of Laws and
Republik Indonesia No. AHU-AH.01.09-0133677 Human Rights of the Republic of Indonesia No.
tanggal 3 Juli 2023. AHU-AH.01.09-0133677 dated 3 July 2023.
10
Page 314
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Susunan anggota Dewan Komisaris, Direksi, Komite The members of the Companyʼs Board of
Audit, Komite Pemantau Resiko, dan Komite Commissioners, Directors, Audit Committee, Risk
Nominasi dan Remunerasi Perseroan adalah Monitoring Committee, and Nomination and
sebagai berikut: Remuneration Committee are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Dewan Komisaris Board of Commissioners
Komisaris Utama Rico Adisurja Setiawan Rico Adisurja Setiawan President Commissioner
Komisaris Totok Priyambodo Totok Priyambodo Commissioner
Komisaris Independen Fendy Eventius Mugni b) Ravik Karsidi a) Independent Commissioner
Direksi Directors
Pinohadi Gautama Pinohadi Gautama
Direktur Utama Sumardi Sumardi President Director
Direktur R. Eryawan Nurhariadi R. Eryawan Nurhariadi Director
Direktur William Francis Indra William Francis Indra Director
Komite Audit Audit Committee
Ketua Fendy Eventius Mugni b) Ravik Karsidi a) Chairman
Marlan Marthias
Anggota Achmad d) Allen Situngkir c) Member
Anggota Indra Riyawan Indra Riyawan Member
Komite Pemantau Resiko Risk Monitoring Committee
Ketua Fendy Eventius Mugni b) Ravik Karsidi a) Chairman
Anggota Totok Priyambodo Totok Priyambodo Member
Anggota Indra Riyawan Indra Riyawan Member
Anggota Irwan Tri Nugroho Irwan Tri Nugroho Member
Komite Nominasi dan Remunerasi Nomination and Remuneration
Committee
Ketua Fendy Eventius Mugni b) Ravik Karsidi a) Chairman
Anggota Totok Priyambodo Totok Priyambodo Member
Makah Indra
Anggota Purnomo f) Vivid Zulprimiadanni e) Member
a) Telah diberhentikan oleh Para Pemegang Saham Perseroan a) Has been dismissed by the Company Shareholders based on
berdasarkan keputusan Pemegang Saham No. 138 tanggal the decision of General Meeting of Shareholders No. 138 on
28 Juni 2023. 28 June 2023.
b) Telah diangkat berdasarkan keputusan Pemegang Saham b) Has been appointed based on the decision of General Meeting
Perseroan No. 138 tanggal 28 Juni 2023 dan efektif tanggal of Shareholders No. 138 on 28 June 2023 and effective on
8 Desember 2023 sesuai persetujuan dari OJK. 8 December 2023 according to approval of the OJK.
c) Telah diberhentikan berdasarkan Surat keputusan Dewan c) Has been dismissed based on the Board of Commissioner
Komisaris No. KEP.KOM/006/2023 tanggal 15 September 2023. decision letter No. KEP.KOM/006/2023 on 15 September
2023.
d) Telah diangkat berdasarkan Surat Keputusan Dewan Komisaris d) Has been appointed based on the Board of Commissioner
No. KEP.KOM/008/2023 tanggal 15 September 2023. decision letter No. KEP.KOM/008/2023 on 15 September
2023.
e) Telah diberhentikan berdasarkan Surat Keputusan Dewan e) Has been dismissed based on the Board of Commissioner
Komisaris No. KEP.KOM/003/2023 tanggal 28 Juli 2023. decision letter No. KEP.KOM/003/2023 on 28 July 2023.
f) Telah diangkat berdasarkan Surat Keputusan Dewan Komisaris f) Has been appointed based on the Board of Commissioner
No. KEP.KOM/003/2023 tanggal 28 Juli 2023. decision letter No. KEP.KOM/003/2023 on 28 July 2023.
Pembentukan Komite Audit Perseroan telah sesuai The appointment of the Companyʼs Audit
dengan Peraturan Otoritas Jasa Keuangan Committee is in compliance with Financial Services
No. 55/POJK.04/2015 tanggal 23 Desember 2015. Authority Regulation No. 55/POJK.04/2015 dated
23 December 2015.
Pembentukan Komite Pemantau Resiko Perseroan The appointment of the Companyʼs Risk Monitoring
telah sesuai dengan Peraturan Otoritas Jasa Committee is in compliance with Financial Services
Keuangan No. 10/POJK.05/2014 tanggal Authority Regulation No. 10/POJK.05/2014 dated
27 Agustus 2014 dan Peraturan Otoritas Jasa 27 August 2014 and Financial Services Authority
Keuangan No. 1/POJK.05/2015 tanggal 23 Maret Regulation No. 1/POJK.05/2015 dated 23 March
2015. 2015.
11
Page 315
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
Pembentukan Komite Nominasi dan Remunerasi The appointment of the Companyʼs Nomination
Perseroan telah sesuai dengan Peraturan Otoritas and Remuneration Committee is in compliance with
Jasa Keuangan No. 34/POJK.04/2014 tanggal Financial Services Authority Regulation
8 Desember 2014. No. 34/POJK.04/2014 dated 8 December 2014.
Sekretaris Perusahaan Perseroan dan Kepala Divisi The Companyʼs Corporate Secretary and the Head
Audit Internal Perseroan adalah sebagai berikut: of Internal Audit Division are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Sekretaris Perusahaan Arif Reza Fahlepi Arif Reza Fahlepi Corporate Secretary
Kepala Divisi Audit Internal Bayu Mario Bayu Mario Head of Internal Audit Division
Pembentukan Sekretaris Perusahaan Perseroan The establishment of the Companyʼs Corporate
telah sesuai dengan Peraturan Otoritas Jasa Secretary is in compliance with Financial Services
Keuangan No. 35/POJK.04/2014 tanggal 8 Authority Regulation No. 35/POJK.04/2014 dated
Desember 2014. 8 December 2014.
Pembentukan Divisi Audit Internal Perseroan telah The establishment of the Companyʼs Internal Audit
sesuai dengan Peraturan Otoritas Jasa Keuangan Division is in compliance with Financial Services
No. 56/POJK.04/2015 tanggal 23 Desember 2015. Authority Regulation No. 56/POJK.04/2015 dated
23 December 2015.
Pada tanggal 31 Desember 2023, Perseroan memiliki As of 31 December 2023, the Company has 3,328
3.328 karyawan (31 Desember 2022: 3.306 employees (31 December 2022: 3,306 employees,
karyawan) (tidak diaudit). respectively) (unaudited).
Entitas induk langsung dan entitas induk terakhir The direct and ultimate holding entity of the
Perseroan adalah PT Bank Mandiri (Persero) Tbk, Company is PT Bank Mandiri (Persero) Tbk, state-
Badan Usaha Milik Negara (BUMN) yang dimiliki oleh owned company, owned by the Government of the
Pemerintah Republik Indonesia. Republic of Indonesia.
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
INFORMATION
Kebijakan akuntansi yang signifikan, yang diterapkan The significant accounting policies, applied in the
dalam penyusunan laporan keuangan Perseroan preparation of the Companyʼs financial statements
adalah sebagai berikut: were as follows:
a. Pernyataan kepatuhan a. Statement of compliance
Laporan keuangan disusun dan disajikan sesuai The financial statements have been prepared
dengan Standar Akuntansi Keuangan di and presented in accordance with Indonesian
Indonesia, yang mencakup Pernyataan dan Financial Accounting Standards, which
Interpretasi yang dikeluarkan oleh Dewan include the Statements and Interpretations
Standar Akuntansi Keuangan Ikatan Akuntan issued by the Indonesian Accounting
Indonesia (DSAK-IAI) dan peraturan Bapepam- Standards Board (DSAK-IAI) and Indonesian
LK No. VIII.G.7 lampiran keputusan Ketua Capital Market Supervisory Agency (Bapepam-
Bapepam-LK No. KEP-347/BL/2012 tanggal LK) Regulation No. VIII.G.7 appendix of the
25 Juni 2012 tentang “Pedoman atas Penyajian Decision of the Chairman of Bapepam-LK
dan Pengungkapan Laporan Keuangan Emiten No. KEP-347/BL/2012 dated 25 June 2012
atau Perusahaan Publik”. regarding the “Guidelines on Financial
Statements Presentations and Disclosures for
Issuers or Public Companies”.
12
Page 316
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
b. Dasar penyusunan laporan keuangan b. Basis of preparation of the financial
statements
Laporan keuangan disusun berdasarkan konsep The financial statements have been prepared
akrual, kecuali laporan arus kas, dan on the accrual basis, except for the statement
menggunakan konsep biaya historis kecuali of cash flows, and using the historical cost
seperti yang disebutkan dalam catatan atas concept of accounting, except as disclosed in
laporan keuangan yang relevan. the relevant notes herein.
Laporan arus kas disusun menggunakan metode The statement of cash flows are prepared
langsung dan arus kas dikelompokkan atas based on direct method by classifying cash
dasar aktivitas operasi, investasi dan flows on the basis of operating, investing and
pendanaan. Untuk tujuan laporan arus kas, kas financing activities. For the purposes of the
dan setara kas mencakup kas, kas pada bank statement of cash flows, cash and cash
dan deposito berjangka dengan jangka waktu equivalents include cash on hand, cash in
jatuh tempo tiga bulan atau kurang, sepanjang banks and time deposits with original maturity
tidak digunakan sebagai jaminan atas pinjaman of three months or less, as long as they are not
atau dibatasi penggunaannya. being pledged as collateral for borrowings or
restricted.
Pos-pos dalam Penghasilan Komprehensif The items under Other Comprehensive Income
Lainnya disajikan terpisah antara akun - akun (OCI) are presented separately between items
yang akan direklasifikasikan ke laba rugi dan to be reclassified to profit or loss and those
akun - akun yang tidak akan direklasifikasikan ke items not to be reclassified to profit or loss.
laba rugi.
Dalam penyusunan laporan keuangan sesuai The preparation of financial statements in
dengan standar akuntansi keuangan Indonesia, conformity with Indonesian Financial
dibutuhkan estimasi dan asumsi yang Accounting Standards requires the use of
mempengaruhi: estimates and assumptions that affects:
- nilai aset dan liabilitas dilaporkan dan - the reported amounts of assets and
pengungkapan atas aset dan liabilitas liabilities and disclosure of contingent
kontinjensi pada tanggal laporan keuangan, assets and liabilities at the date of the
dan financial statements, and
- jumlah pendapatan dan beban selama - the reported amounts of revenues and
periode pelaporan. expenses during the reported period.
Walaupun estimasi ini dibuat berdasarkan Although these estimates are based on
pengetahuan terbaik manajemen atas kejadian managementʼs best knowledge of current
dan tindakan saat ini, hasil yang timbul mungkin events and activities, actual results may differ
berbeda dengan jumlah yang diestimasi semula. from those estimates.
Mata uang penyajian yang digunakan pada The presentation currency used in the
laporan keuangan adalah Rupiah, yang financial statements is Indonesian Rupiah,
merupakan mata uang fungsional. which is the functional currency of the
Company.
Seluruh angka dalam laporan keuangan ini, The amounts in the financial statements are
kecuali dinyatakan secara khusus, dibulatkan rounded to and stated in millions of Rupiah
menjadi dan disajikan dalam jutaan Rupiah unless otherwise stated.
kecuali dinyatakan lain.
13
Page 317
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan c. Financial assets and liabilities
Aset keuangan Financial assets
Perseroan menggunakan 2 (dua) dasar untuk The Company uses 2 (two) bases for
mengklasifikasikan aset keuangan yaitu classifying financial assets, namely evaluation
penilaian model bisnis dan penilaian mengenai of the business model and evaluation of
arus kas kontraktual yang diperoleh semata dari contractual cash flows obtained solely from
pembayaran pokok dan bunga. payment of principal and interest.
Penilaian model bisnis Valuation of the business model
Model bisnis ditentukan pada level yang The business model is determined at a level
mencerminkan bagaimana kelompok aset that reflects how groups of financial assets are
keuangan dikelola bersama-sama untuk managed together to achieve certain business
mencapai tujuan bisnis tertentu. objectives.
Penilaian model bisnis dilakukan dengan The evaluation of the business model is carried
mempertimbangkan, tetapi tidak terbatas pada, out by considering, but not limited to, the
hal-hal berikut: following:
Bagaimana kinerja dari model bisnis dan How the performance of the business
aset keuangan yang dimiliki dalam model model and financial assets held in the
bisnis dievaluasi dan dilaporkan kepada business model are evaluated and
personil manajemen kunci Perseroan; reported to the Company's key
management personnel;
Apakah risiko yang memengaruhi kinerja dari What risks affect the performance of the
model bisnis (termasuk aset keuangan yang business model (including financial
dimiliki dalam model bisnis) dan khususnya assets held in the business model) and
bagaimana cara aset keuangan tersebut specifically how the financial assets are
dikelola; dan managed; and
Bagaimana penilaian kinerja pengelola aset How to evaluate the performance of
keuangan (sebagai contoh, apakah penilaian managers of financial assets (for
kinerja berdasarkan nilai wajar dari aset yang example, whether performance
dikelola atau arus kas kontraktual yang appraisals are based on the fair value of
diperoleh); the assets being managed or the
contractual cash flows obtained);
Frekuensi, nilai, dan waktu penjualan yang Expected frequency, value, and timing of
diharapkan. sales.
Penilaian mengenai arus kas kontraktual yang Evaluation of contractual cash flows obtained
diperoleh semata dari pembayaran pokok dan solely from payment of principal and interest
bunga
Penilaian mengenai arus kas kontraktual yang An assessment of contractual cash flows
diperoleh semata dari pembayaran pokok dan obtained solely from principal and interest
bunga dilakukan dengan mempertimbangkan payments is made by considering contractual
persyaratan kontraktual, termasuk apakah aset terms, including whether financial assets
keuangan mengandung persyaratan kontraktual contain contractual terms that can change the
yang dapat mengubah waktu atau jumlah arus timing or amount of contractual cash flows. In
kas kontraktual. Dalam melakukan penilaian, assessing, the Company considers:
Perseroan mempertimbangkan:
Peristiwa kontinjensi yang akan mengubah Contingency events that will change the
waktu atau jumlah arus kas kontraktual; timing or amount of contractual cash flows;
Fitur leverage; Leverage feature;
Persyaratan pembayaran dimuka dan Terms of advance payment and
perpanjangan kontraktual; contractual extension;
Persyaratan mengenai klaim yang terbatas Requirements regarding limited claims for
atas arus kas yang berasal dari aset spesifik; cash flows from specific assets; and
dan
Fitur yang dapat mengubah nilai waktu dari Features that can change the time value of
elemen uang. the money element.
14
Page 318
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Penilaian mengenai arus kas kontraktual yang Evaluation of contractual cash flows obtained
diperoleh semata dari pembayaran pokok dan solely from payment of principal and interest
bunga (lanjutan) (continued)
Perseroan mengklasifikasikan aset The Company classifies its financial assets
keuangannya berdasarkan kategori sebagai according to the following categories at initial
berikut pada saat pengakuan awal: recognition:
Aset keuangan yang diukur pada biaya Financial assets measured at amortized
perolehan diamortisasi; cost;
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui penghasilan komprehensif lain; through other comprehensive income;
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui laba rugi. through profit or loss.
Selama tahun berjalan dan pada tanggal laporan During the year and at the date of statement of
posisi keuangan, Perseroan hanya memiliki aset financial position, the Company only has
keuangan yang diukur pada biaya perolehan financial assets measured at amortized cost
diamortisasi serta derivatif lindung nilai sehingga and hedging derivatives. Therefore, the
kebijakan akuntansi selain klasifikasi aset accounting policies other than the
keuangan yang diukur pada biaya perolehan classifications of financial assets measured at
diamortisasi serta derivatif lindung nilai tidak amortized cost and hedging derivatives are not
diungkapkan. disclosed.
Aset keuangan yang diukur pada biaya Financial assets measured at amortized cost
perolehan diamortisasi
Aset keuangan diukur pada biaya perolehan Financial assets are measured at amortized
diamortisasi jika memenuhi kondisi: cost if they meet the following conditions:
aset keuangan dikelola dalam model bisnis financial assets are managed in a
yang bertujuan untuk memiliki aset business model that aims to have
keuangan dalam rangka mendapatkan arus financial assets in order to obtain
kas kontraktual; dan contractual cash flows; and
persyaratan kontraktual dari aset keuangan the contractual terms of the financial
tersebut memberikan hak pada tanggal asset provide rights on a certain date for
tertentu atas arus kas yang diperoleh semata cash flows obtained solely from payment
dari pembayaran pokok dan bunga (SPPI) of principal and interest (SPPI) on the
dari jumlah pokok terutang. principal amount owed.
Pada saat pengakuan awal, aset keuangan yang Financial assets carried at amortized cost are
diukur pada biaya perolehan diamortisasi diakui initially recognized at fair value plus
pada nilai wajarnya ditambah biaya transaksi transaction costs and administration income
dan pendapatan administrasi dan selanjutnya and subsequently measured at amortized cost
diukur pada biaya perolehan diamortisasi using the effective interest rate method.
dengan menggunakan suku bunga efektif.
Aset keuangan yang diukur pada biaya Financial assets carried at amortized cost
perolehan diamortisasi meliputi kas dan setara consist of cash and cash equivalents,
kas, piutang pembiayaan konsumen, piutang consumer financing receivables, finance lease
sewa pembiayaan, anjak piutang, piutang lain- receivables, factoring receivables, other
lain dan aset lain-lain (piutang karyawan, piutang receivables and other assets (employee
bunga, setoran dalam perjalanan dan uang receivables, interest receivables, deposit in
jaminan). transit and security deposit).
15
Page 319
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Aset keuangan yang diukur pada biaya Financial assets measured at amortized cost
perolehan diamortisasi (lanjutan) (continued)
Pendapatan dari aset keuangan yang diukur Income from financial assets measured at
pada biaya perolehan diamortisasi dicatat dalam amortized cost is included in the statement of
laporan laba rugi dan penghasilan komprehensif profit or loss and other comprehensive income
lain dan diakui sebagai “Pendapatan and is reported as “Consumer financing
pembiayaan konsumen”, ”Pendapatan sewa income”, “Finance lease income” and
pembiayaan” dan “Pendapatan anjak piutang”. “Factoring income”.
Dalam hal terjadi penurunan nilai, cadangan In the case of impairment, allowance for
kerugian penurunan nilai dilaporkan sebagai impairment losses is reported as a deduction
pengurang dari nilai tercatat dari aset keuangan from the carrying value of the financial assets
yang diukur pada biaya perolehan diamortisasi, measured at amortized cost and recognized in
dan diakui di dalam laporan laba rugi dan the statement of profit or loss and other
penghasilan komprehensif lain sebagai comprehensive income as “Provision for
“Penyisihan kerugian penurunan nilai”. impairment losses”.
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui laba rugi through profit or loss
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui laba rugi termasuk aset keuangan untuk through profit or loss include financial assets
diperdagangkan dan aset keuangan yang held for trading and financial assets
ditetapkan pada saat pengakuan awal untuk designated upon initial recognition at fair value
diukur pada nilai wajar melalui laba rugi. through profit or loss.
Aset derivatif diklasifikasikan sebagai kelompok Derivative assets are classified as held for
diperdagangkan kecuali mereka ditetapkan trading unless they are designated as effective
sebagai instrumen lindung nilai efektif. Aset hedging instruments. Financial assets at fair
keuangan yang diukur pada nilai wajar melalui value through profit or loss are carried in the
laba rugi disajikan dalam laporan posisi statement of financial position at fair value with
keuangan pada nilai wajar dengan keuntungan gains or losses recognized in the profit or loss.
atau kerugian dari perubahan nilai wajar diakui
dalam laba rugi.
Pengakuan Recognition
Perseroan menggunakan akuntansi tanggal The Company uses trade date accounting for
transaksi untuk kontrak reguler ketika mencatat regular way contracts when recording financial
transaksi aset keuangan. assets transactions.
Penurunan nilai dari aset keuangan Impairment of financial assets
Pada setiap tanggal pelaporan, Perseroan At each reporting date, the Company
mengukur penyisihan kerugian penurunan nilai measures the Allowance of impairment losses
instrumen keuangan sejumlah kredit on financial instruments over their lifetime
ekspektasian sepanjang umurnya, jika risiko expectancy, if the credit risk of the financial
kredit atas instrumen keuangan tersebut telah instrument has increased significantly since
meningkat secara signifikan sejak pengakuan initial recognition.
awal.
16
Page 320
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Penurunan nilai dari aset keuangan (lanjutan) Impairment of financial assets (continued)
Jika pada tanggal pelaporan, risiko kredit atas If at the reporting date, the credit risk of the
instrumen keuangan tidak meningkat secara financial instrument has not increased
signifikan sejak pengakuan awal, entitas significantly since initial recognition, the entity
mengukur penyisihan kerugian untuk instrumen measures the allowance of impairment losses
keuangan tersebut sejumlah kerugian for the financial instrument in the amount of the
ekspektasian 12 bulan. Kerugian dimaksud expected 12-month loss. The aforementioned
merepresentasikan kerugian kredit ekspektasian losses represent expected loan losses arising
yang timbul dari peristiwa gagal bayar instrumen from financial instrument defaults that may
keuangan yang mungkin terjadi dalam 12 bulan occur 12 months after the reporting date.
setelah tanggal pelaporan.
Selanjutnya, Perseroan mengelompokkan aset Furthermore, the Company classifies financial
keuangan berdasarkan hasil evaluasi tersebut assets based on the evaluation results which
yang mencerminkan tingkat risiko kredit aset reflects the level of the credit risk of financial
keuangan. assets.
a) Stage 1 a) Stage 1
Pada tanggal evaluasi penurunan nilai, risiko At the evaluation date for impairment, the
kredit atas instrumen keuangan tidak credit risk for financial instruments is not
meningkat secara signifikan sejak increased significantly since initial
pengakuan awal yang dapat dibuktikan recognition as evidenced by no overdue of
dengan tidak terdapat tunggakan lebih dari more than 30 days. For this reason, the
30 hari. Atas hal tersebut, Perseroan akan Company will measure the allowance for
mengukur penyisihan kerugian untuk losses for the financial instrument in the
instrumen keuangan tersebut sejumlah amount of 12-month expected credit
kerugian kredit ekspektasian 12 bulan. losses.
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss is part
adalah bagian dari kerugian kredit of the expected credit loss throughout its
ekspektasian sepanjang umurnya yang lifetime that represents an expected credit
merepresentasikan kerugian kredit loss arising from a default on financial
ekspektasian yang timbul dari peristiwa instruments that might occur 12 months
gagal bayar instrumen keuangan yang after reporting date.
mungkin terjadi dalam 12 bulan setelah
tanggal pelaporan.
b) Stage 2 b) Stage 2
Pada tanggal evaluasi penurunan nilai, risiko At the evaluation date of impairment, credit
kredit atas instrumen keuangan telah risk on financial instruments has increased
meningkat secara signifikan sejak significantly since initial recognition, which
pengakuan awal yang dapat dibuktikan can be proven by the overdue between
dengan terdapat tunggakan antara 31 hari 31 days and 90 days. For this reason, the
sampai dengan 90 hari. Atas hal tersebut, Company will measure the allowance for
Perseroan akan mengukur penyisihan losses for these financial instruments at the
kerugian untuk instrumen keuangan tersebut amount of expected credit losses over their
sejumlah kerugian kredit ekspektasian lifetime.
sepanjang umurnya.
17
Page 321
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Penurunan nilai dari aset keuangan (lanjutan) Impairment of financial assets (continued)
c) Stage 3 c) Stage 3
Pada tanggal evaluasi penurunan nilai, At the evaluation date of impairment, there
terdapat bukti objektif bahwa instrumen is objective evidence that the financial
keuangan mengalami penurunan nilai yang instruments are impaired, which can be
dapat dibuktikan dengan terdapat tunggakan proven by being in overdue of more than
lebih dari 90 hari atau telah diserahkannya 90 days or motor vehicle collaterals owned
jaminan kendaraan milik konsumen untuk by customers have been submitted for
pelunasan piutang pembiayaan. Atas hal settlement of their financing receivables.
tersebut, Perseroan akan mengukur For this reason, the Company will measure
penyisihan kerugian untuk instrumen the allowance for losses for these financial
keuangan tersebut sejumlah kerugian kredit instruments at the amount of expected
ekspektasian sepanjang umurnya. credit losses over their lifetime.
Tujuan dari persyaratan penurunan nilai adalah The purpose of the impairment requirements is
untuk mengakui kerugian kredit ekspektasian to recognize expected credit losses over the life
sepanjang umurnya atas semua instrumen of all financial instruments that have
keuangan yang telah mengalami peningkatan experienced a significant increase in credit risk
risiko kredit secara signifikan sejak pengakuan since initial recognition - whether assessed
awal - baik dinilai secara individu atau kolektif - individually or collectively - taking into account
dengan mempertimbangkan semua informasi all reasonable and supportable information,
yang wajar dan terdukung, termasuk informasi including estimated future information (forward-
yang bersifat perkiraan masa depan (forward- looking).
looking).
Perseroan menerapkan persyaratan penurunan The Company applies an impairment
nilai untuk aset keuangan yang diukur pada biaya requirement for financial assets measured at
perolehan diamortisasi dan aset keuangan yang amortized cost and financial assets measured
diukur pada nilai wajar melalui penghasilan at fair value through other comprehensive
komprehensif lain. income.
Dalam beberapa keadaan Perseroan tidak In some circumstances the Company does not
memiliki informasi yang wajar dan terdukung have reasonable and supportable information
yang tersedia tanpa biaya atau upaya berlebihan available without fees or excessive efforts to
untuk mengukur kerugian kredit ekspektasian measure expected credit losses throughout its
sepanjang umurnya pada instrumen secara life on individual instruments. Expected credit
individual. Kerugian kredit ekspektasian losses for the entire lifetime are recognized
sepanjang umurnya diakui secara kolektif collectively by considering comprehensive
dengan mempertimbangkan informasi risiko credit risk information. The comprehensive
kredit komprehensif. Informasi risiko kredit credit risk information must include not only
komprehensif tersebut harus memasukan tidak arrears information but also all relevant credit
hanya informasi tunggakan tetapi juga seluruh information, including forward-looking
informasi kredit relevan, termasuk informasi macroeconomic information, to approach the
makroekonomi forward-looking, untuk mendekati outcome of recognizing expected credit losses
hasil dari pengakuan kerugian kredit over the life when there is a significant increase
ekspektasian sepanjang umurnya ketika terdapat in credit risk since initial recognition at the level
kenaikan signifikan pada risiko kredit sejak of individual instruments.
pengakuan awal pada level instrumen individu.
18
Page 322
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Penurunan nilai dari aset keuangan (lanjutan) Impairment of financial assets (continued)
Cadangan kerugian penurunan nilai secara Allowance for impairment losses on impaired
individual dihitung dengan menggunakan financial assets that was assessed individually
metode diskonto arus kas (discounted cash is computed using discounted cash flows
flows). Sedangkan cadangan kerugian method. For allowance for impairment losses
penurunan nilai secara kolektif dihitung dengan on impaired financial assets that was assessed
menggunakan metode statistik dari data historis collectively, the Company uses statistical
berupa probability of default di masa lalu, waktu method of the historical data such as the
pengembalian dan jumlah kerugian yang terjadi probability of default, timing of recoveries, the
(Loss Given Default) yang selanjutnya amount of loss incurred (Loss Given Default),
disesuaikan lagi dengan pertimbangan considering managementʼs judgment of
manajemen terkait kondisi ekonomi dan kredit current economic and credit conditions.
saat ini.
Ketika suatu piutang tidak tertagih, piutang When a receivable is uncollectible, it is written
tersebut dihapus buku dengan menjurnal balik off against the related allowance for
cadangan kerugian penurunan nilai. Piutang impairment losses. Such receivables are
tersebut dapat dihapus buku setelah semua written off after all the necessary procedures
prosedur yang diperlukan telah dilakukan dan have been completed and the amount of the
jumlah kerugian telah ditentukan. Beban loss has been determined. Impairment
penurunan nilai yang terkait dengan pinjaman charges relating to loans and receivables are
yang diberikan dan piutang diklasifikasikan ke classified into “Allowance for impairment
dalam “Cadangan kerugian penurunan nilai”. losses”.
Jika pada periode berikutnya, jumlah kerugian If in the subsequent period, the amount of the
penurunan nilai berkurang dan pengurangan impairment loss decreases and the decrease
tersebut dapat dikaitkan secara obyektif pada can be related objectively to an event occurring
peristiwa yang terjadi setelah penurunan nilai after the impairment was recognized (such as
diakui (seperti meningkatnya peringkat piutang an improvement in the debtorʼs receivable
debitur), maka kerugian penurunan nilai yang rating), the previously recognized impairment
sebelumnya diakui harus dipulihkan, dengan loss is reversed by adjusting the allowance for
menyesuaikan akun cadangan kerugian impairment losses. The amount of the
penurunan nilai. Jumlah pemulihan aset impairment reversal is recognized in the
keuangan diakui pada laporan laba rugi dan statement of profit or loss and other
penghasilan komprehensif lain. comprehensive income.
Penerimaan kemudian atas piutang yang telah Subsequent recoveries of receivable written off
dihapusbukukan diakui sebagai pendapatan are recognized as other income upon receipt.
lain-lain pada saat diterima.
19
Page 323
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Liabilitas keuangan Financial liabilities
Perseroan mengklasifikasikan liabilitas The Company classifies its financial liabilities
keuangan dalam kategori (i) liabilitas keuangan in the category of (i) financial liabilities
yang diukur pada nilai wajar melalui laporan laba measured at fair value through profit or loss
rugi dan (ii) liabilitas keuangan yang diukur pada and (ii) financial liabilities measured at
biaya perolehan diamortisasi. amortized cost.
Selama tahun berjalan dan pada tanggal laporan During the year and at the date of statement of
posisi keuangan, Perseroan tidak memiliki financial position, the Company does not have
liabilitas keuangan yang diukur pada nilai wajar financial liabilities that are measured at fair
melalui laporan laba rugi. Perseroan juga value through profit or loss. The Company has
memiliki utang derivatif yang diakui sebagai derivative payables that are accounted for as
lindung nilai yang efektif. an effective hedge.
Liabilitas keuangan yang diukur pada biaya Financial liabilities measured at amortized cost
perolehan diamortisasi
Pada saat pengakuan awal, liabilitas keuangan Financial liabilities at amortized cost are
yang diukur pada biaya perolehan diamortisasi initially recognized at fair value less transaction
diukur pada nilai wajar dikurangi biaya transaksi. costs.
Setelah pengakuan awal, Perseroan mengukur After initial recognition, the Company
seluruh liabilitas keuangan yang diukur pada measures all financial liabilities at amortized
biaya perolehan diamortisasi dengan cost using effective interest rate method.
menggunakan metode suku bunga efektif.
Liabilitas keuangan yang diukur pada biaya Financial liabilities measured at amortized cost
perolehan diamortisasi antara lain utang usaha, include trade payables, other payables,
utang lain-lain, beban yang masih harus dibayar, accrued expenses, borrowings, and securities
pinjaman yang diterima, dan surat berharga yang issued.
diterbitkan.
Liabilitas keuangan yang diukur pada nilai wajar Financial liabilities measured at fair value
melalui laba atau rugi through profit or loss
Liabilitas keuangan yang diukur pada nilai wajar Financial liabilities measured at fair value
melalui laba atau rugi mencakup liabilitas through profit or loss include financial liabilities
keuangan yang diklasifikasikan dalam kelompok held for trading and financial liabilities
diperdagangkan dan liabilitas keuangan yang designated upon initial recognition at fair value
pada saat pengakuan awalnya, telah ditetapkan, through profit or loss.
diukur pada nilai wajar melalui laba atau rugi.
Liabilitas keuangan diklasifikasikan dalam Financial liabilities are classified as held for
kelompok diperdagangkan jika diperoleh atau trading if these are incurred for the purpose of
dimiliki untuk tujuan dijual dalam waktu dekat. selling in the near term. Derivative liabilities are
Liabilitas derivatif juga diklasifikasikan dalam also classified as held for trading unless these
kelompok diperdagangkan kecuali derivatif yang are designated as effective hedging
ditetapkan sebagai instrumen lindung nilai yang instruments.
efektif.
Laba atau rugi atas liabilitas keuangan dalam Gains or losses on financial liabilities held for
kelompok diperdagangkan harus diakui dalam trading are recognized in profit or loss.
laba rugi.
20
Page 324
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Penghentian pengakuan Derecognition
Penghentian pengakuan aset keuangan Financial assets are derecognized when the
dilakukan ketika hak kontraktual atas arus kas contractual rights to receive the cash flows
yang berasal dari aset keuangan tersebut from these assets have ceased to exist or the
berakhir, atau ketika aset keuangan tersebut assets have been transferred and substantially
telah ditransfer dan secara substansial seluruh all the risks and rewards of ownership of the
risiko dan manfaat atas kepemilikan aset assets are also transferred (if substantially all
tersebut telah ditransfer (jika secara substansial the risk and rewards were not transferred, the
seluruh risiko dan manfaat tidak ditransfer, maka Company tests control to ensure that
Perseroan melakukan evaluasi untuk continuing involvement on the basis of any
memastikan keterlibatan berkelanjutan atas retained powers of control does not prevent
kendali yang masih dimiliki tidak mencegah derecognition). Financial liabilities are
penghentian pengakuan). Liabilitas keuangan derecognized when they have been redeemed
dihentikan pengakuannya ketika liabilitas telah or otherwise extinguished.
dilepaskan atau dibatalkan atau kadaluwarsa.
Penghentian pengakuan piutang pembiayaan Consumer financing receivables are
konsumen yang mengalami penurunan nilai, derecognized when the receivables have been
akan dilakukan ketika piutang telah written off. Doubtful receivables are written off
dihapusbukukan. Piutang ragu-ragu akan when they have been overdue for more than
dihapusbukukan setelah menunggak lebih dari 180 days or determined to be not collectible.
180 hari atau pada saat piutang tersebut The write-off of doubtful accounts do not
diputuskan tidak dapat tertagih. eliminate the right to collect and hence are still
Penghapusbukuan piutang ragu-ragu ini bukan to be pursued for collection continuously.
merupakan hapus tagih, sehingga upaya Consumer financing receivables could be
penagihan tetap dilakukan. Piutang pembiayaan settled by selling the motor vehicles that are
konsumen dapat diselesaikan dengan menjual financed by the Company.
kendaraan yang dibiayai Perseroan.
Perseroan menerima kendaraan dari konsumen The Company receives motor vehicles from
dan membantu untuk menjual kendaraan customers and assist them in selling their
tersebut sehingga konsumen dapat melunasi motor vehicles so that the customers are able
utang pembiayaan konsumennya. to settle their consumer financing payables.
Konsumen memberi kuasa kepada Perseroan The customers give the right to the Company
untuk menjual kendaraan ataupun melakukan to sell the motor vehicles or take any other
tindakan lainnya dalam upaya penyelesaian actions to settle the outstanding consumer
piutang pembiayaan konsumen bila terjadi financing receivables in the events of default.
wanprestasi terhadap perjanjian pembiayaan. Customers are entitled to the positive
Konsumen berhak atas selisih lebih antara nilai difference between the proceeds from sale of
penjualan dengan saldo piutang pembiayaan the motor vehicles and the outstanding
konsumen. Jika terjadi selisih kurang, kerugian consumer financing receivables. If difference is
yang terjadi dibebankan pada laporan laba rugi negative, the resulting loss is charged to the
dan penghasilan komprehensif lain tahun current year statement of profit or loss and
berjalan. other comprehensive income.
Jaminan kendaraan milik konsumen untuk Motor vehicle collaterals owned by customers
pelunasan piutang pembiayaan konsumen yang for settlement of their consumer financing
belum dihapus buku, dinyatakan sebesar nilai receivables that have not been written off are
tercatat piutang pembiayaan konsumen terkait presented at the carrying value of the related
setelah dikurangi penyisihan kerugian atas consumer financing receivables, less
penurunan nilai. allowance for impairment losses.
21
Page 325
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Modifikasi atas Arus Kas Aset Keuangan Modification of Cash Flows of Financial
Assets
Penilaian apakah suatu aset keuangan telah An assessment of whether a financial asset
dimodifikasi baik secara substansial maupun has been modified substantially or not is
tidak substansial dilakukan oleh unit bisnis yang carried out by a business unit who authorized
berwenang melakukan modifikasi atau to modify or restructure the financial assets
restrukturisasi aset keuangan pada saat unit when the business unit carries out modification
bisnis tersebut melakukan tindakan modifikasi or restructuring of the financial assets.
atau restrukturisasi atas suatu aset keuangan.
Modifikasi aset keuangan dianggap substansial Modifications to financial assets are
dan Perseroan akan berhenti mengakui aset considered substantial and the Company will
keuangan awal ketika: derecognize the original financial assets when:
(a) aset keuangan (atau bagiannya) berakhir, (a) the financial asset (or a portion) expires,
yaitu jika debitur secara hukum dibebaskan that is, if the debtor is legally released from
dari tanggung jawab utama atas aset primary responsibility for the asset (or any
tersebut (atau bagiannya), baik melalui portion), either by legal process or by the
proses hukum maupun oleh kreditur creditor entering into a new credit contract
pembuatan kontrak kredit baru (sebagai (for example, the equity conversion
contoh, opsi equity conversion); atau option); or
(b) terdapat konversi mata uang. (b) there is a currency conversion.
Perseroan kemudian akan mengukur aset The Company will then measure the modified
keuangan yang telah dimodifikasi baik secara financial assets either substantially or not in the
substansial maupun tidak substansial dengan following manner:
cara berikut:
(a) Modifikasi Aset Keuangan yang Substansial (a) Substantial Modification of Financial
Assets
1. Saat arus kas kontraktual atas aset 1. When the contractual cash flows on
keuangan direnegosiasi atau financial assets are renegotiated or
dimodifikasi (antara lain ketika kredit modified (for example, when credit is
direstrukturisasi) dimana renegosiasi restructured) where the renegotiation
atau modifikasi tersebut menghasilkan or modification results in
penghentian pengakuan aset derecognition of the financial asset,
keuangan, Perseroan akan mencatat the Company will record the financial
aset keuangan tersebut sebagai aset asset as a new/modified financial
keuangan baru/modifikasian pada asset on the modification/negotiation
tanggal modifikasi/negosiasi. date.
2. Selisih jumlah tercatat bruto aset 2. The difference between the gross
keuangan awal dengan nilai wajar aset carrying amount of the original
modifikasian diakui di laba rugi. financial asset and the fair value of the
modified asset is recognized in profit
or loss.
3. Pendapatan atau biaya transaksi yang 3. Transaction income or costs incurred
terjadi sehubungan dengan kejadian in connection with a modification
modifikasi diakui sebagai bagian dari event are recognized as part of the
keuntungan atau kerugian atas gain or loss on the modification.
modifikasi tersebut.
4. Selanjutnya, Perseroan melakukan 4. Next, the Company will assess
penilaian apakah aset keuangan whether new/modified financial assets
baru/modifikasian merupakan aset are assets that arise from
yang berasal dari aset keuangan deteriorating financial assets.
memburuk.
22
Page 326
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Modifikasi atas Arus Kas Aset Keuangan Modification of Cash Flows of Financial
(lanjutan) Assets (continued)
(a) Modifikasi Aset Keuangan yang Substansial (a) Substantial Modification of Financial
(lanjutan) Assets (continued)
5. Pengakuan pendapatan bunga atas 5. The recognition of interest income on
aset yang berasal dari aset keuangan assets originating from deteriorating
memburuk ditentukan berdasarkan financial assets is determined based
suku bunga efektif yang telah on the risk-adjusted effective interest
disesuaikan dengan risiko kredit (risk- rate to discount the cash flows of
adjusted effective interest rate) untuk modified financial assets.
mendiskontokan arus kas aset
keuangan yang telah dimodifikasi.
(b) Modifikasi Aset Keuangan yang Tidak (b) Non-Substantial Modification of Financial
Substansial Assets
1. Saat Perseroan melakukan renegosiasi 1. When the Company renegotiates or
atau modifikasi arus kas kontraktual modifies contractual cash flows for
atas aset keuangan (antara lain ketika financial assets (among others, when
kredit direstrukturisasi) yang tidak loans are restructured) that do not
memenuhi kriteria modifikasi aset meet the criteria for substantial
keuangan yang substansial di atas, modification of financial assets above,
maka renegosiasi atau modifikasi the renegotiation or modification does
tersebut tidak menghasilkan not result in derecognition of financial
penghentian pengakuan aset assets.
keuangan.
2. Jumlah tercatat bruto aset keuangan 2. The gross carrying amount of the
dihitung sebesar nilai kini (net present financial asset is computed at the net
value) dari arus kas kontraktual yang present value of modified or
telah dimodifikasi atau direnegosiasi renegotiated contractual cash flows
yang didiskontokan menggunakan suku discounted at the original effective
bunga efektif awal. interest rate.
3. Perseroan kemudian mengakui 3. The Company then recognizes the
keuntungan atau kerugian dari gain or loss from the modification
modifikasi (yaitu sebesar perubahan (namely the change in the gross
jumlah tercatat bruto aset keuangan) carrying amount of the financial asset)
dalam laporan laba rugi. in the income statement.
4. Pendapatan atau biaya transaksi yang 4. Transaction income or costs incurred
terjadi sehubungan dengan kejadian in connection with a modification
modifikasi diakui sebagai penyesuaian event are recognized as an
terhadap jumlah tercatat aset keuangan adjustment to the carrying amount of
yang telah dimodifikasi dan diamortisasi the modified financial asset and
selama sisa jangka waktu aset amortized over the remaining term of
keuangan modifikasian tersebut. the modified financial asset.
Saling hapus Offsetting
Aset dan liabilitas keuangan saling hapus Financial assets and liabilities are offset and
disajikan dalam laporan posisi keuangan jika the net amount is presented in the statement
memiliki hak yang berkekuatan hukum untuk of financial position when there is a legally
melakukan saling hapus buku atas jumlah yang enforceable right to offset the recognized
telah diakui tersebut dan berniat untuk amounts and there is intention to settle on a net
menyelesaikan secara neto atau untuk basis or to realize the asset and settle the
merealisasikan aset dan menyelesaikan liability simultaneously. This means that the
liabilitasnya secara simultan. Hak yang right to set off:
berkekuatan hukum berarti:
23
Page 327
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
c. Aset dan liabilitas keuangan (lanjutan) c. Financial assets and liabilities (continued)
Saling hapus (lanjutan) Offsetting (continued)
a. tidak terdapat kontinjensi di masa yang akan a. must not be contingent on a future event,
datang, dan and
b. hak yang berkekuatan hukum pada kondisi- b. must be legally enforceable in all of the
kondisi berikut ini: following circumstances:
i. kegiatan bisnis normal; i. the normal course of business;
ii. kondisi kegagalan usaha; dan ii. the event of default; and
iii. kondisi gagal bayar atau bangkrut. iii. the event of insolvency or bankruptcy.
Klasifikasi instrumen keuangan Classification of financial instruments
Perseroan mengklasifikasikan instrumen The Company classifies the financial
keuangan ke dalam klasifikasi tertentu yang instruments into classes that reflects the nature
mencerminkan sifat dari informasi dan of information and take into account the
mempertimbangkan karakteristik dari instrumen characteristics of those financial instruments.
keuangan tersebut. Klasifikasi ini dapat dilihat The classifications are shown in the table
pada tabel berikut: below:
Golongan
Kategori yang didefinisikan (ditentukan oleh Perseroan)/
oleh PSAK No.71/ Class (as determined by the Subgolongan/
Category as defined by SFAS No.71 Company) Subclasses
Kas dan setara kas/Cash and cash equivalents
- Kas pada bank/Cash in banks
- Deposito berjangka/Time deposit
Piutang pembiayaan konsumen/Consumer financing receivables
Piutang sewa pembiayaan/Finance lease receivables
Aset keuangan yang diukur Anjak piutang/Factoring receivables
pada biaya perolehan yang
Piutang lain-lain/Other receivables
Aset keuangan/ diamortisasi/Financial assets
Financial at amortized cost
assets Aset lain-lain/Other assets
- Piutang karyawan/Employee receivables
- Piutang bunga/Interest receivables
- Setoran dalam perjalanan/Deposit in transit
- Uang jaminan/Security deposit
Derivatif lindung nilai/ Hedging Lindung nilai atas nilai arus kas/Hedging instruments in cash flow hedges
derivatives - Piutang derivatif/Derivative receivables
Utang usaha/Trade payables
- Utang kendaraan/Vehicle payables
- Utang asuransi/Insurance payables
Utang lain-lain/Other payables
Liabilitas Liabilitas keuangan yang diukur - Kantor pendaftaran fidusia/Fiduciary register office
keuangan/ dengan biaya perolehan - Premi asuransi/Insurance premium
Financial diamortisasi/Financial liabilities - Pembiayaan bersama/Joint financing
liabilities at amortized cost Lain-lain/Others
Beban yang masih harus dibayar/Accrued expenses
Pinjaman yang diterima/Borrowings
Surat berharga yang diterbitkan/Securities issued
24
Page 328
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
d. Penentuan nilai wajar d. Determination of fair value
Nilai wajar adalah harga yang akan diterima Fair value is the price that would be received
untuk menjual suatu aset atau harga yang akan to sell an asset or paid to transfer a liability in
dibayar untuk mengalihkan suatu liabilitas dalam an orderly transaction between market
transaksi teratur antara pelaku pasar pada participants at the measurement date. The fair
tanggal pengukuran. Pengukuran nilai wajar value measurement is based on the
berdasarkan asumsi bahwa transaksi untuk presumption that the transaction to sell the
menjual aset atau mengalihkan liabilitas terjadi asset or transfer the liability takes place either:
di:
pasar utama untuk aset dan liabilitas in the principal market for the asset or
tersebut, atau liability, or
jika terdapat pasar utama, di pasar yang in the absence of the principal market, in
paling menguntungkan untuk aset atau the most advantageous market for the
liabilitas tersebut. asset or liability.
Perseroan harus memiliki akses ke pasar utama The principal or the most advantageous market
atau pasar yang paling menguntungkan tersebut. must be accessible by the Company.
Nilai wajar aset dan liabilitas diukur The fair value of an asset or a liability is
menggunakan asumsi yang akan digunakan measured using the assumptions that market
pelaku pasar ketika menentukan harga aset atau participants would use when pricing the asset
liabilitas tersebut, dengan asumsi bahwa pelaku or liability, assuming that market participants
pasar bertindak dalam kepentingan ekonomi act in their economic best interest.
terbaiknya.
Perseroan menggunakan teknik penilaian yang The Company uses valuation techniques that
sesuai dalam keadaan dan dimana data yang are appropriate in the circumstances and for
memadai tersedia untuk mengukur nilai wajar, which sufficient data are available to measure
memaksimalkan penggunaan input yang tidak fair value, maximizing the use of relevant
dapat diobservasi. observable inputs and minimizing the use of
unobservable inputs.
Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is
diukur atau diungkapkan dalam laporan measured or disclosed in the financial
keuangan dikategorikan dalam hirarki nilai wajar, statements are categorized within the fair value
sebagaimana dijelaskan di bawah ini, hierarchy, described as follows, based on the
berdasarkan tingkatan level input yang terendah lowest level input that is significant to the fair
yang signifikan terhadap pengukuran nilai wajar value measurement as a whole:
secara keseluruhan:
Level 1 - harga kuotasian (tanpa Level 1 - quoted (unadjusted) market
penyesuaian) di pasar aktif untuk aset atau prices in active markets for identical
liabilitas yang identik. assets or liabilities.
Level 2 - teknik penilaian di mana tingkat Level 2 - valuation techniques for which
level input terendah yang signifikan the lowest level input that is significant to
terhadap pengukuran nilai wajar dapat the fair value measurement is directly or
diobservasi baik secara langsung atau tidak indirectly observable.
langsung.
Level 3 - teknik penilaian di mana tingkat Level 3 - valuation techniques for which
level input terendah yang signifikan the lowest level input that is significant to
terhadap pengukuran nilai wajar tidak dapat the fair value measurement is directly or
diobservasi baik secara langsung atau tidak indirectly unobservable.
langsung.
25
Page 329
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
d. Penentuan nilai wajar (lanjutan) d. Determination of fair value (continued)
Untuk aset dan liabilitas yang diukur secara For assets and liabilities that are recognized in
berulang dalam laporan keuangan, Perseroan the financial statements on a recurring basis,
menentukan apakah perpindahan antar level the Company determines whether transfers
hirarki telah terjadi dengan melakukan evaluasi have occurred between levels in hierarchy by
pengelompokan (berdasarkan level input yang reassessing categorization (based on the
terendah yang signifikan terhadap pengukuran lowest level input that is significant to the fair
nilai wajar secara menyeluruh) pada setiap akhir value measurement as a whole) at the end of
periode pelaporan. each reporting period.
e. Penjabaran mata uang asing e. Foreign currency translation
Transaksi dalam mata uang asing dijabarkan ke Transactions denominated in a foreign
mata uang Rupiah dengan menggunakan kurs currency are translated into Rupiah at the
yang berlaku pada tanggal transaksi. Pada exchange rate prevailing at the date of the
tanggal laporan posisi keuangan, aset dan transaction. At the date of statement of
liabilitas moneter dalam mata uang asing financial position, monetary assets and
dijabarkan dengan kurs tengah Bank Indonesia liabilities in foreign currencies are translated at
yang berlaku pada tanggal laporan posisi the exchange rates prevailing at that date as
keuangan. published by Bank Indonesia.
Keuntungan dan kerugian selisih kurs yang Exchange gains and losses arising on
timbul dari transaksi dalam mata uang asing dan transactions in foreign currency and on the
dari penjabaran aset dan liabilitas moneter translation of foreign currency monetary assets
dalam mata uang asing, diakui pada laporan laba and liabilities are recognized in the statement
rugi dan penghasilan komprehensif lain. of profit or loss and other comprehensive
income.
Kurs yang digunakan untuk menjabarkan aset The exchange rates used to translate the
dan liabilitas moneter dalam mata uang asing monetary assets and liabilities denominated in
pada tanggal 31 Desember 2023 dan 2022 foreign currencies as of 31 December 2023
adalah sebagai berikut: and 2022 are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Mata uang Currency
Dolar Amerika Serikat (AS$) 15.416 15.731 United States Dollar (US$)
f. Kas dan setara kas f. Cash and cash equivalents
Kas dan setara kas mencakup kas, kas di bank Cash and cash equivalents include cash on
dan deposito berjangka dengan jangka waktu hand, cash in banks and time deposits with
jatuh tempo tiga bulan atau kurang sejak dari original maturity of three months or less from
tanggal penempatannya, yang tidak dibatasi the date of placement, which are not restricted
penggunaannya, tidak digunakan sebagai and are not pledged as collateral for any
jaminan atas pinjaman dan dapat segera borrowing and that are readily convertible to
dijadikan kas tanpa terjadi perubahan nilai yang known amounts of cash which are subject to
sangat signifikan. insignificant risk of changes in value.
26
Page 330
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
g. Piutang pembiayaan konsumen g. Consumer financing receivables
Piutang pembiayaan konsumen diakui pada Consumer financing receivables are
awalnya dengan nilai wajar ditambah biaya- recognized initially at fair value, added with
biaya transaksi dan dikurangi yield enhancing directly attributable transactions costs and
income yang dapat diatribusikan secara deducted by yield enhancing income, and
langsung dan selanjutnya diukur dengan biaya subsequently measured at amortized cost
perolehan diamortisasi menggunakan metode using the effective interest rate method.
tingkat bunga efektif. Piutang pembiayaan Consumer financing receivables are classified
konsumen diklasifikasikan sebagai aset as financial assets measured at amortized
keuangan yang diukur pada biaya perolehan cost. Refer to Note 2c for the accounting policy
diamortisasi. Lihat Catatan 2c untuk kebijakan for financial assets measured at amortized
akuntansi atas aset keuangan yang diukur pada cost.
biaya perolehan diamortisasi.
Penyelesaian kontrak sebelum masa Early termination is treated as a cancellation of
pembiayaan konsumen berakhir diperlakukan an existing contract and the resulting gain or
sebagai pembatalan kontrak pembiayaan loss is credited or charged to the current year
konsumen dan laba atau rugi yang terjadi diakui statement of profit or loss and other
dalam laporan laba rugi dan penghasilan comprehensive income at the transaction date.
komprehensif lain tahun berjalan pada tanggal
terjadinya transaksi.
Pendapatan pembiayaan konsumen yang belum Unearned consumer financing income is the
diakui merupakan selisih antara jumlah difference between total installments to be
keseluruhan pembayaran angsuran yang akan received from customers and the total
diterima dari konsumen dan jumlah pokok financing which is recognized as income over
pembiayaan yang akan diakui sebagai the term of the contract using the effective
penghasilan sesuai dengan jangka waktu interest rate.
kontrak dengan menggunakan metode tingkat
suku bunga efektif.
Restrukturisasi kredit dapat dilakukan dengan Credit restructuring can be done by over
cara pengalihan kredit, merubah jatuh tempo, contract, change in due date, change in tenor
merubah tenor dan/atau menambah down and/or increase in down payment.
payment.
Kerugian yang timbul dari restrukturisasi kredit Losses on loan restructuring in respect of
yang berkaitan dengan modifikasi persyaratan modification of the terms of the loans are
kredit hanya diakui bila nilai kini penerimaan kas recognized only if the present value of total
masa depan yang telah ditentukan dalam future cash receipts specified in the new terms
persyaratan kredit yang baru, termasuk of the loans, including both receipt designated
penerimaan yang diperuntukkan sebagai bunga as interest, and those designated as loan
maupun pokok, adalah lebih kecil dari nilai kredit principal, are less than the recorded amounts
yang diberikan yang tercatat sebelum of loans before restructuring in the financial
restrukturisasi di laporan keuangan. statements.
Pembiayaan bersama Joint financing
Piutang pembiayaan konsumen merupakan Consumer financing receivables are stated at
jumlah piutang setelah dikurangi dengan piutang net of joint financing receivables, unearned
pembiayaan bersama, pendapatan pembiayaan consumer financing income and allowance for
yang belum diakui dan cadangan kerugian impairment losses.
penurunan nilai.
27
Page 331
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
g. Piutang pembiayaan konsumen (lanjutan) g. Consumer financing receivables
(continued)
Pembiayaan Bersama (lanjutan) Joint financing (continued)
Piutang pembiayaan konsumen yang dibiayai Joint financing receivables where the
bersama pihak-pihak lain dimana masing- Company and joint financing providers bear
masing pihak mendapatkan imbalan (rewards) credit risk in accordance with their portion are
dan menanggung risiko kredit sesuai dengan presented on a net basis in the statement of
porsinya disajikan di laporan posisi keuangan financial position. Administration income for
secara bersih. Pendapatan administrasi atas managing joint financing are presented in the
pengelolaan pembiayaan bersama disajikan di statement of profit or loss and other
laporan laba rugi dan penghasilan komprehensif comprehensive income.
lain.
h. Piutang sewa pembiayaan h. Finance lease receivables
Piutang sewa pembiayaan merupakan jumlah Finance lease receivables represent lease
piutang sewa pembiayaan ditambah nilai sisa receivables plus the residual value at the end
yang akan diterima pada akhir masa sewa of the lease period and stated at net of
pembiayaan dikurangi dengan pendapatan sewa unearned lease income, security deposits and
pembiayaan tangguhan, simpanan jaminan dan allowances for impairment losses. The
cadangan kerugian penurunan nilai. Selisih difference between the gross lease receivable
antara nilai piutang usaha bruto dan nilai tunai and the present value of the lease receivable is
piutang diakui sebagai pendapatan sewa recognized as unearned lease income.
pembiayaan tangguhan. Pendapatan sewa Unearned lease income is allocated to current
pembiayaan tangguhan dialokasikan sebagai year statement of profit or loss and other
pendapatan di laporan laba rugi dan penghasilan comprehensive income based on a constant
komprehensif lain tahun berjalan berdasarkan rate of return on the net investment using
suatu tingkat pengembalian konstan atas effective interest rates.
investasi bersih dengan menggunakan suku
bunga efektif.
Penyewa pembiayaan memiliki hak opsi untuk The lessee has the option to purchase the
membeli aset yang disewa-pembiayaankan leased asset at the end of the lease period at
pada akhir masa sewa pembiayaan dengan a price mutually agreed upon at the
harga yang telah disetujui bersama pada saat commencement of the agreement.
dimulainya perjanjian sewa pembiayaan.
Penyelesaian kontrak sebelum masa sewa Early termination is treated as a cancellation of
pembiayaan berakhir diperlakukan sebagai an existing contract and the resulting gain or
pembatalan kontrak sewa dan laba atau rugi loss is credited or charged to the current year
yang timbul diakui dalam laporan laba rugi dan statement of profit or loss and other
penghasilan komprehensif lain tahun berjalan. comprehensive income.
Piutang sewa pembiayaan diklasifikasikan Finance lease receivables are classified as
sebagai aset keuangan yang diukur pada biaya financial assets measured at amortized cost.
perolehan diamortisasi. Lihat Catatan 2c untuk Refer to Note 2c for the accounting policy for
kebijakan akuntansi atas aset keuangan yang financial assets measured at amortized cost.
diukur pada biaya perolehan diamortisasi.
28
Page 332
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
i. Tagihan anjak piutang i. Factoring receivables
Tagihan anjak piutang dicatat berdasarkan Factoring receivables are recorded at the
jumlah yang dibayar oleh Perseroan yang amount paid by the Company which are
dihitung berdasarkan persentase tertentu dari calculated based on certain percentages of the
nilai piutang. Perbedaan antara jumlah yang receivable value. The difference in value
dibayar dan jumlah neto piutang dialihkan between the amounts paid by the Company
merupakan pendapatan belum diakui dan diakui and the net factoring receivable is recognized
sebagai pendapatan selama jangka waktu as unearned income and realized over the
perjanjian dengan menggunakan tingkat suku period of the contract using the effective
bunga efektif (Catatan 2c). interest method (Note 2c).
j. Cadangan kerugian penurunan nilai j. Allowance for impairment losses
Perseroan melakukan perhitungan cadangan The Company calculates the allowance for
kerugian penurunan nilai dengan menggunakan impairment losses using the “expected credit
metode kerugian kredit ekspektasian. Lihat losses” methodology. Refer to Note 2c.
Catatan 2c.
k. Beban dibayar di muka k. Prepaid expenses
Beban dibayar di muka diamortisasi selama Prepaid expenses are amortized over the
masa manfaat masing-masing biaya dengan periods benefited using the straight-line
menggunakan metode garis lurus. method.
l. Aset tetap, aset hak guna dan liabilitas sewa l. Fixed assets, right-of-use assets and lease
liabilities
Aset tetap Fixed assets
Aset tetap diakui sebesar biaya perolehan dan Fixed assets are stated at cost and
selanjutnya dipertanggungjawabkan dengan subsequently accounted using the cost
menggunakan model biaya (cost method) dan method and stated at cost less accumulated
dinyatakan sebesar nilai perolehan dikurangi depreciation.
dengan akumulasi penyusutan.
29
Page 333
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
l. Aset tetap, aset hak guna dan liabilitas sewa l. Fixed assets, right-of-use assets and lease
(lanjutan) liabilities (continued)
Aset tetap (lanjutan) Fixed assets (continued)
Harga perolehan mencakup semua pengeluaran Acquisition cost covers all expenditures that
yang terkait secara langsung dengan perolehan are directly attributable to the acquisition of the
aset tetap. items.
Biaya pengurusan legal hak atas tanah dalam The legal cost of land rights in the form of
bentuk Hak Guna Bangunan (“HGB”) ketika Building Usage Right (Hak Guna Bangunan or
tanah diperoleh pertama kali diakui sebagai “HGB”) when the land was acquired initially is
bagian dari biaya perolehan tanah pada akun recognized as part of the cost of the land under
“Aset Tetap” dan tidak diamortisasi. the “Fixed Assets” account and not amortized.
Sementara biaya pengurusan atas Meanwhile, the extension or the legal renewal
perpanjangan atau pembaruan legal hak atas costs of land rights in the form of HGB is
tanah dalam bentuk HGB diakui sebagai aset recognized as intangible asset and amortized
takberwujud dan diamortisasi sepanjang mana over the shorter of the rights' legal life and
yang lebih pendek antara umur hukum hak dan land's economic life.
umur ekonomi tanah.
Hak atas tanah tidak diamortisasi. Land rights is not amortized.
Aset dalam penyelesaian dinyatakan sebesar Construction in progress is stated at cost and
biaya perolehan dan akan dipindahkan ke transferred to the respective fixed asset
masing-masing aset tetap yang bersangkutan account when completed and ready for use.
pada saat selesai dan siap digunakan.
Penyusutan aset tetap selain tanah dan Depreciation on fixed assets other than land
bangunan dalam pengerjaan dihitung dengan and construction in progress are calculated
menggunakan metode garis lurus sepanjang using the straight-line method over their
estimasi masa manfaatnya sebagai berikut: estimated useful lives as follows:
Masa manfaat (tahun)/ Persentase/
Golongan Useful life (years) Percentage Classification
Bangunan 20 5,00% Buildings
Perabotan dan peralatan kantor 5 20,00% Furniture and office equipment
Kendaraan 5 20,00% Vehicles
Renovasi bangunan sewa 3-5 20,00% - 33,33% Leasehold improvement
Aset tetap kecuali tanah dan bangunan dalam Fixed assets except land and construction in
pengerjaan disusutkan sampai dengan nilai progress are depreciated to their residual
sisanya. value.
Biaya-biaya setelah pengakuan awal aset diakui Subsequent costs are included in the assetʼs
sebagai bagian dari nilai tercatat aset atau carrying amount or recognized as a separate
sebagai aset yang terpisah, sebagaimana asset, as appropriate, only when it is probable
seharusnya, hanya apabila kemungkinan besar that future economic benefits associated with
Perseroan akan mendapatkan manfaat the item will flow to the Company and the cost
ekonomis di masa depan berkenaan dengan of the item can be measured reliably. Amounts
aset tersebut dan biaya perolehan aset dapat in respect of replaced parts are derecognized.
diukur dengan andal. Nilai yang terkait dengan All other repairs and maintenance are charged
penggantian komponen tidak diakui. Biaya to the statement of profit or loss and other
perbaikan dan pemeliharaan dibebankan ke comprehensive income during the period in
dalam laporan laba rugi dan penghasilan which they are incurred.
komprehensif lain selama periode dimana biaya-
biaya tersebut terjadi.
30
Page 334
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
l. Aset tetap, aset hak guna dan liabilitas sewa l. Fixed assets, right-of-use assets and lease
(lanjutan) liabilities (continued)
Aset tetap (lanjutan) Fixed assets (continued)
Nilai residu dan umur manfaat aset ditelaah dan The assetsʼ residual values and useful lives are
disesuaikan, setiap tanggal laporan posisi reviewed, and adjusted if appropriate, at each
keuangan jika diperlukan. date of statement of financial position.
Apabila aset tetap tidak digunakan lagi atau When assets are retired or otherwise disposed
dijual, maka nilai tercatat dan akumulasi of, their carrying values and the related
penyusutannya dikeluarkan dari laporan accumulated depreciation are eliminated from
keuangan dan keuntungan atau kerugian yang the financial statements and the resulting gain
dihasilkan dari penjualan aset tetap diakui dalam or loss on the disposal of fixed assets is
laporan laba rugi dan penghasilan komprehensif recognized in the statement of profit or loss
lain. and other comprehensive income.
Apabila nilai tercatat aset tetap lebih besar dari When the carrying amount of an asset is
nilai yang dapat diperoleh kembali, nilai tercatat greater than its estimated recoverable amount,
aset diturunkan menjadi sebesar nilai yang dapat it is written down immediately to its recoverable
diperoleh kembali. amount.
Penilaian dilakukan pada akhir setiap periode An assessment is made at each reporting
pelaporan apakah terdapat indikasi bahwa rugi period as to whether there is any indication that
penurunan nilai yang telah diakui dalam periode previously recognized impairment losses may
sebelumnya mungkin tidak ada lagi atau no longer exist or may have decreased. If such
mungkin telah menurun. Jika indikasi yang indication exists, the recoverable amount is
dimaksud ditemukan, maka entitas estimated.
mengestimasi jumlah terpulihkan aset tersebut.
Kerugian penurunan nilai yang telah diakui A previously recognized impairment losses is
dalam periode sebelumnya dibalik hanya jika reversed only if there has been a change in the
terdapat perubahan asumsi-asumsi yang assumptions used to determine the assetʼs
digunakan untuk menentukan jumlah terpulihkan recoverable amount since the last impairment
aset tersebut sejak rugi penurunan nilai terakhir loss was recognized. If that is the case, the
diakui. Dalam hal ini, jumlah tercatat aset carrying amount of the asset is increased to its
dinaikkan ke jumlah terpulihkannya. recoverable amount.
Pembalikan rugi penurunan nilai diakui dalam Reversal of an impairment loss is recognized
laporan laba rugi dan penghasilan komprehensif in the statement of profit or loss and other
lain. Setelah pembalikan tersebut, penyusutan comprehensive income. After such a reversal,
aset tersebut disesuaikan di periode mendatang the depreciation charge on the asset is
untuk mengalokasikan jumlah tercatat aset yang adjusted in future periods to allocate the
direvisi, dikurangi nilai sisanya, dengan dasar assetʼs revised carrying amount, less any
yang sistematis selama sisa umur masa residual value, on a systematic basis over its
manfaatnya. remaining useful life.
31
Page 335
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
l. Aset tetap, aset hak guna dan liabilitas sewa l. Fixed assets, right-of-use assets and lease
(lanjutan) liabilities (continued)
Aset hak guna dan liabilitas sewa Right-of-use assets and lease liabilities
PSAK No. 73 memperkenalkan model akuntansi SFAS No. 73 introduces a single lessee
penyewa tunggal dan mensyaratkan penyewa accounting model and requires a lessee to
untuk mengakui aset dan liabilitas untuk semua recognize assets and liabilities for all leases
sewa dengan pengecualian sewa jangka pendek with the exemptions of short-term leases and
dan aset dengan nilai rendah. Penyewa the underlying asset is of low value. A lessee
diharuskan untuk mengakui aset hak-guna yang is required to recognize a right-of-use asset
mewakili haknya untuk menggunakan aset representing its right to use the underlying
sewaan dan liabilitas sewa yang mewakili leased asset and a lease liability representing
kewajibannya untuk melakukan pembayaran its obligation to make lease payments. SFAS
sewa. PSAK No. 73 secara substansial masih No. 73 substantially carries forward the lessor
menggunakan persyaratan akuntansi atas accounting requirements in SFAS No. 30
pesewa (lessor) sesuai PSAK No. 30 Sewa. Oleh Leases. Accordingly, a lessor continues to
karena itu, pesewa masih akan menggunakan classify its leases as operating leases or
klasifikasi sewa dalam sewa operasi atau finance leases, and to account for those two
pembiayaan, dan memperlakukan transaksi types of leases differently.
sewa atas kedua tipe sewa tersebut secara
berbeda.
Perseroan mengakui liabilitas sewa, sebagai The Company recognized a lease liability,
pembayaran sewa yang tersisa termasuk atas being the remaining lease payments including
opsi perpanjangan dimana perpanjangan hampir extension options where renewal is reasonably
dapat dipastikan, didiskontokan menggunakan certain, discounted using the incremental
tingkat bunga pinjaman inkremental pada borrowing rate at the date of initial application.
tanggal penerapan awal. Aset hak-guna yang The corresponding right-of-use asset
diakui adalah jumlah yang sama dengan liabilitas recognized was an amount equal to the lease
sewa, yang disesuaikan dengan jumlah liability, adjusted by the amount of prepaid or
pembayaran sewa dibayar dimuka atau terutang accrued lease payments relating to those
terkait sewa tersebut. leases.
Beban keuangan dicatat dalam laporan laba rugi. Finance expense is recorded in the statement
Aset sewa (disajikan sebagai bagian aset tetap) of income. Leased assets (presented under
disusutkan dengan metode garis lurus selama fixed assets) are depreciated using straight-line
jangka waktu yang lebih pendek antara umur method over the shorter of the estimated useful
manfaat aset sewa dan periode masa sewa, jika life of the assets and the lease term, if there is
tidak ada kepastian yang memadai bahwa no reasonable certainty that the Company will
Perseroan akan mendapatkan hak kepemilikan obtain ownership by the end of the lease term.
pada akhir masa sewa.
Pada saat penerapan adopsi PSAK No. 73, Upon adoption of SFAS No. 73, the Company
Perseroan menerapkan pendekatan pengakuan applied a single recognition and measurement
dan pengukuran tunggal untuk semua aset sewa approach for all leases except for short-term
kecuali sewa jangka pendek dan sewa aset yang leases and leases of low-value assets.
bernilai rendah.
32
Page 336
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
m. Perpajakan m. Taxation
Pajak Final Final Tax
Peraturan perpajakan di Indonesia mengatur Tax regulation in Indonesia determined that
beberapa jenis penghasilan dikenakan pajak certain taxable income is subject to final tax.
yang bersifat final. Pajak final yang dikenakan Final tax applied to the gross value of
atas nilai bruto transaksi tetap dikenakan transactions is applied even when the parties
walaupun atas transaksi tersebut pelaku carrying the transaction are recognizing
transaksi mengalami kerugian. losses.
Mengacu pada PSAK No. 46, “Pajak Referring to SFAS No. 46, “Income Tax”, final
Penghasilan”, pajak final tersebut tidak termasuk tax is no longer governed by SFAS No. 46.
dalam lingkup yang diatur oleh PSAK No. 46. Therefore, the Company has decided to present
Oleh karena itu, Perseroan memutuskan untuk all of the final tax arising from interest income as
menyajikan beban pajak final sehubungan separate line item.
dengan pendapatan bunga sebagai pos
tersendiri.
Pajak Kini Current Tax
Aset dan liabilitas pajak kini untuk tahun berjalan Current income tax assets and liabilities for the
diukur sebesar jumlah yang diharapkan dapat current year are measured at the amount
direstitusi dari atau dibayarkan kepada otoritas expected to be recovered from or paid to the
perpajakan. taxation authority.
Beban pajak kini ditentukan berdasarkan laba Current tax expense is determined based on
kena pajak tahun berjalan yang dihitung the taxable profit for the year computed using
berdasarkan tarif pajak yang berlaku. the prevailing tax rates.
Kekurangan/kelebihan pembayaran pajak Underpayment/overpayment of income tax are
penghasilan dicatat sebagai bagian dari “Beban presented as part of “Income Tax Expense” in
Pajak Penghasilan” dalam laporan laba rugi dan the statement of profit or loss and other
penghasilan komprehensif lain. Perseroan juga comprehensive income. The Company also
menyajikan bunga/denda, jika ada, sebagai presented interest/penalty, if any, as part of
bagian dari “Beban Pajak Penghasilan”. “Income Tax Expense”.
Koreksi terhadap liabilitas perpajakan diakui Amendments to tax obligations are recorded
pada saat surat ketetapan pajak diterima atau, when a tax assessment letter is received or, if
jika diajukan keberatan, pada saat keputusan appealed against, when the result of the
atas keberatan ditetapkan. appeal is determined.
Aset dan liabilitas pajak tangguhan diakui Deferred tax assets and liabilities are
menggunakan metode posisi keuangan atas recognized using the financial position
konsekuensi pajak pada masa mendatang yang method for the future tax consequences
timbul dari perbedaan jumlah tercatat aset dan attributable to the differences between the
liabilitas menurut laporan keuangan dengan carrying amounts of existing assets and
dasar pengenaan pajak aset dan liabilitas pada liabilities in the financial statements and their
setiap tanggal pelaporan. Liabilitas pajak respective tax bases at each reporting date.
tangguhan diakui untuk semua perbedaan Deferred tax liabilities are recognized for all
temporer kena pajak dan aset pajak tangguhan taxable temporary differences and deferred
diakui untuk perbedaan temporer yang boleh tax assets are recognized for deductible
dikurangkan dan akumulasi rugi fiskal, temporary differences and accumulated fiscal
sepanjang besar kemungkinan perbedaan losses to the extent that it is probable that
temporer yang boleh dikurangkan dan akumulasi taxable profit will be available in future years
rugi fiskal tersebut dapat dimanfaatkan untuk against which the deductible temporary
mengurangi laba kena pajak pada masa depan. differences and accumulated fiscal losses
can be utilized.
33
Page 337
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
m. Perpajakan (lanjutan) m. Taxation (continued)
Pajak Tangguhan Deferred Tax
Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of a deferred tax asset is
ulang pada akhir setiap periode pelaporan dan reviewed at the end of each reporting period
diturunkan apabila laba fiskal mungkin tidak and reduced to the extent that it is no longer
memadai untuk mengkompensasi sebagian atau probable that sufficient taxable profit will be
semua manfaat aset pajak tangguhan tersebut. available to allow the benefit of part or all of that
Pada akhir setiap periode pelaporan, Perseroan deferred tax asset to be utilized. At the end of
menilai kembali aset pajak tangguhan yang tidak each reporting period, the Company
diakui. Perseroan mengakui aset pajak reassesses unrecognized deferred tax assets.
tangguhan yang sebelumnya tidak diakui apabila The Company recognizes a previously
besar kemungkinan bahwa laba fiskal pada unrecognized deferred tax assets to the extent
masa depan akan tersedia untuk pemulihannya. that it has become probable that future taxable
profit will allow the deferred tax assets to be
recovered.
Pajak tangguhan dihitung dengan menggunakan Deferred tax is calculated at the tax rates that
tarif pajak yang berlaku atau secara substansial have been enacted or substantively enacted at
telah berlaku pada tanggal pelaporan. the reporting date. Changes in the carrying
Perubahan nilai tercatat aset dan liabilitas pajak amount of deferred tax assets and liabilities due
tangguhan yang disebabkan oleh perubahan to a change in tax rates are charged to current
tarif pajak dibebankan pada usaha tahun year operations, except to the extent that they
berjalan, kecuali untuk transaksi-transaksi yang relate to items previously charged or credited to
sebelumnya telah langsung dibebankan atau equity.
dikreditkan ke ekuitas.
Aset dan liabilitas pajak tangguhan disajikan Deferred tax assets and liabilities are offset in
secara saling hapus dalam laporan posisi the statement of financial position, except if they
keuangan, kecuali aset dan liabilitas pajak are for different legal entities, consistent with
tangguhan untuk entitas yang berbeda, sesuai the presentation of current tax assets and
dengan penyajian aset dan liabilitas pajak kini. liabilities.
n. Imbalan kerja n. Employee benefits
Imbalan kerja jangka pendek Short-term employee benefits
Imbalan kerja jangka pendek diakui pada saat Short-term employee benefits are recognized
terutang kepada karyawan berdasarkan metode when it is payable to the employees based on
akrual. accrual method.
Imbalan kerja jangka panjang dan imbalan Long-term employee benefits and post-
pasca-kerja employment benefits
Imbalan kerja jangka panjang dan imbalan Long-term employee benefits and post-
pasca-kerja, seperti pensiun, uang pisah, uang employment employee benefits, such as
penghargaan, dan imbalan lainnya, ditentukan pensions, severance pay, service pay, and other
sesuai dengan Peraturan Perseroan dan benefits are provided in accordance with the
Undang-Undang Ketenagakerjaan yang berlaku. Companyʼs Regulations and applicable Labor
Law.
Karena Undang-Undang Ketenagakerjaan Since Labor Law sets the formula for determining
menentukan rumus tertentu untuk menghitung the minimum amount of benefits, in substance
jumlah minimal imbalan pensiun, pada dasarnya, pension plans under the Labor Law represent
program pensiun berdasarkan Undang-Undang defined benefit plans. A defined benefit plan is a
Ketenagakerjaan adalah program imbalan pasti. pension plan that defines an amount of pension
Program pensiun imbalan pasti adalah program benefit to be provided, usually as a function of
pensiun yang menentukan jumlah imbalan one or more factors such as age, years of service
pensiun yang akan diberikan, biasanya or compensation.
berdasarkan pada satu faktor atau lebih seperti
usia, masa kerja atau kompensasi.
34
Page 338
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
n. Imbalan kerja (lanjutan) n. Employee benefits (continued)
Imbalan kerja jangka panjang dan imbalan Long-term employee benefits and post-
pasca-kerja (lanjutan) employment benefits (continued)
Liabilitas program pensiun imbalan pasti yang The liability recognized in the statement of
diakui di laporan posisi keuangan adalah nilai financial position in respect of defined benefit
kini liabilitas imbalan pasti pada tanggal laporan pension plans is the present value of the defined
posisi keuangan, serta disesuaikan dengan benefit obligation at the date of statement of
keuntungan atau kerugian aktuarial dan biaya financial position, together with adjustments for
jasa lalu yang belum diakui. Nilai kini liabilitas unrecognized actuarial gains or losses and past
imbalan pasti dihitung setiap tahun oleh aktuaris service cost. The present value of defined
independen menggunakan metode projected benefit obligation is calculated annually by an
unit credit. independent actuary using the projected unit
credit method.
Nilai kini liabilitas imbalan pasti ditentukan The present value of the defined benefit
dengan mendiskontokan estimasi arus kas obligation is determined by discounting the
keluar masa depan dengan menggunakan estimated future cash outflows using yields on
tingkat obligasi pemerintah jangka panjang Indonesian Government bonds that are
dalam mata uang yang sama dengan mata uang denominated in the currency in which the
imbalan yang akan dibayarkan dan waktu jatuh benefits will be paid, and that have terms to
tempo yang kurang lebih sama dengan waktu maturity approximating the terms of the related
jatuh tempo imbalan yang bersangkutan. pension liability.
Seluruh biaya jasa lalu diakui pada saat yang All past service costs are recognized at the
lebih dulu antara ketika amandemen/kurtailmen earlier of when the amendment/curtailment
terjadi atau ketika biaya restrukturisasi atau occurs and when the related restructuring or
pemutusan hubungan kerja diakui. Sebagai termination costs are recognized. As a result,
akibatnya, biaya jasa lalu yang belum vested unvested past service costs can no longer be
tidak lagi dapat ditangguhkan dan diakui selama deferred and recognized over the future
periode vesting masa depan. vesting period.
Bunga neto atas imbalan pasti neto merupakan Net interest on the net defined benefit liabilities
komponen pendapatan bunga dari aset program, is the interest income component of plan
biaya bunga atas liabilitas imbalan pasti dan assets, interest expense of defined benefit
bunga atas dampak batas atas dari aset. obligation and interest on the effect of asset
ceiling.
Pengukuran kembali liabilitas imbalan pasti neto Remeasurements of the net defined benefit
terdiri atas: obligation consists of:
- keuntungan dan kerugian aktuarial - actuarial gains and losses
- imbal hasil atas aset program, tidak termasuk - return on plan assets, excluding amount
jumlah yang dimasukkan dalam bunga neto included in net interest on the net defined
atas liabilitas imbalan pasti neto benefit obligation
- setiap perubahan dampak batas atas aset, - any change in effect of the asset ceiling,
tidak termasuk jumlah yang dimasukkan excluding amount included in net interest on
dalam bunga neto atas liabilitas imbalan pasti the net defined benefit obligation.
neto.
35
Page 339
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
n. Imbalan kerja (lanjutan) n. Employee benefits (continued)
Pesangon pemutusan hubungan kerja Termination benefits
Pesangon pemutusan hubungan kerja terutang Termination benefits are payable whenever an
ketika karyawan dihentikan kontrak kerjanya employeeʼs employment is terminated before
sebelum usia pensiun normal. Perseroan the normal retirement date. The Company
mengakui pesangon pemutusan hubungan kerja recognizes termination benefits when it is
ketika Perseroan menunjukkan komitmennya demonstrably committed to terminate the
untuk memutuskan hubungan kerja dengan employment of current employees according to
karyawan berdasarkan suatu rencana formal a detailed formal plan and the possibility to
terperinci yang kecil kemungkinannya untuk withdraw the plan is low. Benefits falling due
dibatalkan. Pesangon yang akan dibayarkan more than 12 months after statement of
dalam waktu lebih dari 12 bulan setelah tanggal financial position date are discounted to reflect
laporan posisi keuangan didiskontokan untuk its present value.
mencerminkan nilai kini.
o. Saham o. Share capital
Saham biasa diklasifikasikan sebagai ekuitas. Ordinary shares are classified as equity.
p. Dividen p. Dividends
Pembagian dividen final diakui sebagai liabilitas Final dividend distributions are recognized as
dalam laporan keuangan pada tanggal dividen a liability in the financial statements at the date
tersebut disetujui Rapat Umum Pemegang when the dividends are approved in the
Saham Perseroan. Companyʼs General Meeting of Shareholders.
q. Laba per saham q. Earnings per share
Laba per saham dihitung dengan membagi laba Earnings per share is calculated by dividing
tahun berjalan dengan jumlah rata-rata income for the year by the weighted average
tertimbang saham biasa yang beredar pada number of ordinary shares outstanding during
tahun yang bersangkutan. the year.
r. Surat berharga yang diterbitkan r. Securities issued
Surat berharga yang diterbitkan meliputi Securities issued consist of Medium-Term
Medium-Term Notes dan utang obligasi. Surat Notes and bonds payable. Securities issued
berharga yang diterbitkan diklasifikasikan are classified as financial liabilities at
sebagai liabilitas keuangan yang diukur dengan amortized cost. Incremental costs directly
biaya perolehan diamortisasi. Biaya tambahan attributable to the issuance of securities are
yang dapat diatribusikan secara langsung deducted from the amount of securities issued
dengan penerbitan surat berharga dikurangkan and amortized over the period of the securities
dari jumlah surat berharga yang diterbitkan dan issued using the effective interest rate method.
diamortisasi selama jangka waktu surat berharga Refer to Note 2c for the accounting policy of
yang diterbitkan tersebut dengan menggunakan financial liabilities at amortized cost.
metode suku bunga efektif. Lihat Catatan 2c
untuk kebijakan akuntansi atas liabilitas
keuangan yang diukur dengan biaya perolehan
diamortisasi.
36
Page 340
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
s. Transaksi dengan pihak-pihak berelasi s. Transactions with related parties
Perseroan mempunyai transaksi dengan pihak The Company has transactions with related
berelasi. Definisi pihak berelasi yang dipakai parties. The definition of related parties used is
adalah sebagai berikut: as follows:
Suatu pihak dianggap berelasi dengan The Company considers the following as its
Perseroan jika: related parties:
a. orang atau anggota keluarga dekatnya a. a person or a close member of that
mempunyai relasi dengan entitas pelapor personʼs family is related to a reporting
jika orang tersebut: entity if that person:
(i) memiliki pengendalian atau (i) has control or joint control of the
pengendalian bersama atas entitas reporting entity;
pelapor;
(ii) memiliki pengaruh signifikan atas (ii) has significant influence over the
entitas pelapor; atau reporting entity; or
(iii) merupakan personil manajemen kunci (iii) is a member of the key management
entitas pelapor atau entitas induk dari personnel of the reporting entity or of
entitas pelapor. a parent of the reporting entity.
b. suatu entitas berelasi dengan entitas pelapor b. an entity is related to a reporting entity if
jika memenuhi salah satu hal berikut: any of the following conditions applies:
(i) entitas dan entitas pelapor adalah (i) the entity and the reporting entity are
anggota dari kelompok usaha yang members of the same group (which
sama (artinya entitas induk, entitas means that each parent, subsidiary
anak, dan entitas anak berikutnya and fellow subsidiary is related to the
saling berelasi dengan entitas lainnya). others).
(ii) satu entitas adalah entitas asosiasi atau (ii) one entity is an associate or joint
ventura bersama dari entitas lain (atau venture of the other entity (or an
entitas asosiasi atau ventura bersama associate or joint venture of a
yang merupakan anggota suatu member of a group of which the other
kelompok usaha, yang mana entitas entity is a member).
lain tersebut adalah anggotanya).
(iii) kedua entitas tersebut adalah ventura (iii) both entities are joint ventures of the
bersama dari pihak ketiga yang sama. same third party.
(iv) satu entitas adalah ventura bersama (iv) one entity is a joint venture of a third
dari entitas ketiga dan entitas yang lain entity and the other entity is an
adalah entitas asosiasi dari entitas associate of the third entity.
ketiga.
(v) entitas tersebut adalah suatu program (v) the entity is a post-employment
imbalan pascakerja untuk imbalan kerja benefit plan for the benefit of
dari salah satu entitas pelapor atau employees of either the reporting
entitas yang terkait dengan entitas entity or an entity related to the
pelapor. Jika entitas pelapor adalah reporting entity. If the reporting entity
entitas yang menyelenggarakan is itself such a plan, the sponsoring
program tersebut, maka entitas sponsor employers are also related to the
juga berelasi dengan entitas pelapor. reporting entity.
(vi) entitas yang dikendalikan atau (vi) the entity is controlled or jointly
dikendalikan bersama oleh orang yang controlled by a person identified in
diidentifikasi dalam huruf (a). (a).
(vii) orang yang diidentifikasi dalam huruf (vii) a person identified in (a)(i) has
(a)(i) memiliki pengaruh signifikan atas significant influence over the entity or
entitas atau merupakan personil is a member of the key management
manajemen kunci entitas (atau entitas personnel of the entity (or of a parent
induk dari entitas). of the entity).
Seluruh transaksi material dengan pihak-pihak All material transactions with related parties
berelasi telah diungkapkan di catatan atas are disclosed in the notes to the financial
laporan keuangan. statements.
37
Page 341
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
t. Instrumen keuangan derivatif t. Derivative financial instruments
Instrumen derivatif diakui pertama-tama pada Derivative instruments are initially recognized
nilai wajar pada saat kontrak tersebut dilakukan, at fair value on the date the contracts are
dan selanjutnya diukur pada nilai wajarnya. entered into and are subsequently re-
Derivatif dicatat sebagai aset apabila memiliki measured at their fair values. Derivatives are
nilai wajar positif dan sebagai liabilitas apabila carried as assets when the fair value is positive
memiliki nilai wajar negatif. and as liabilities when the fair value is
negative.
Metode pengakuan keuntungan atau kerugian The method of recognizing the fair value gain
dari perubahan nilai wajar tergantung pada or loss depends on whether the derivative is
apakah derivatif tersebut adalah instrumen designated as a hedging instrument and, if so,
lindung nilai, dan sifat dari unsur yang dilindungi the nature of the item being hedged.
nilainya.
Perseroan menggunakan instrumen keuangan The Company uses derivative instruments,
derivatif, pertukaran (swap) mata uang asing dan cross currency and interest rate swaps as part
tingkat suku bunga, sebagai bagian dari aktivitas of its management activities to manage risks of
manajemen untuk melindungi dampak risiko foreign currency and interest rate on the
mata uang asing dan tingkat suku bunga atas Companyʼs bank loan. The Company applies
pinjaman Perseroan. Perseroan menerapkan cash flow hedge accounting when transactions
akuntansi lindung nilai arus kas pada saat meet the specified criteria for hedge
transaksi tersebut memenuhi kriteria perlakuan accounting treatment.
akuntansi lindung nilai.
Pada saat terjadinya transaksi, Perseroan The Company documents, at the inception of
membuat dokumentasi mengenai hubungan the transaction, the relationship between
antara instrumen lindung nilai dan unsur yang hedging instruments and hedged items, as well
dilindungi nilainya, juga tujuan manajemen risiko as its risk management objective and strategy
dan strategi yang diterapkan dalam melakukan for undertaking hedge transactions. This
transaksi lindung nilai. Proses dokumentasi ini process includes linking all derivatives
menghubungkan derivatif yang ditujukan designated as hedges to specific assets and
sebagai lindung nilai dengan aset dan liabilitas liabilities or to specific firm commitments or
tertentu atau dengan komitmen penuh tertentu forecast transactions.
atau transaksi yang diperkirakan.
Pada saat terjadinya transaksi lindung nilai dan The Company also documents its assessment,
pada periode berikutnya, Perseroan juga both at the hedge inception and on an ongoing
membuat dokumentasi atas penilaian apakah basis, as to whether the derivatives that are
derivatif yang digunakan sebagai transaksi used in hedging transactions are highly
lindung nilai memiliki efektivitas yang tinggi effective in offsetting changes in fair values or
dalam menandingi (offsetting) perubahan nilai cash flows of hedged items.
wajar atau arus kas dari unsur yang dilindungi
nilainya.
Hubungan lindung nilai memenuhi syarat untuk A hedging relationship qualifies for hedge
akuntansi lindung nilai jika memenuhi semua accounting if it meets all of the following
persyaratan efektivitas berikut: effectiveness requirements:
Ada 'hubungan ekonomik' antara item There is ʻan economic relationshipʼ
lindung nilai dan instrumen lindung nilai. between the hedged item and the hedging
instrument.
Pengaruh risiko kredit tidak 'mendominasi The effect of credit risk does not ʻdominate
perubahan nilai' yang dihasilkan dari the value changesʼ that result from that
hubungan ekonomik tersebut. economic relationship.
38
Page 342
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
t. Instrumen keuangan derivatif (lanjutan) t. Derivative financial instruments
(continued)
Hubungan lindung nilai memenuhi syarat untuk A hedging relationship qualifies for hedge
akuntansi lindung nilai jika memenuhi semua accounting if it meets all of the following
persyaratan efektivitas berikut: (lanjutan) effectiveness requirements: (continued)
Rasio lindung nilai dari hubungan lindung The hedge ratio of the hedging
nilai adalah rasio yang sama yang relationship is the same as that resulting
dihasilkan dari kuantitas item lindung nilaian from the quantity of the hedged item that
yang aktual digunakan oleh Perseroan the Company actually hedges and the
melindungi nilai sejumlah kuantitas quantity of the hedging instrument that the
instrumen lindung nilaian yang secara Company actually uses to hedge that
aktual digunakan oleh Perseroan untuk quantity of hedged item.
melindungi sejumlah kuantitas item lindung
nilaian.
Bagian yang efektif atas perubahan nilai wajar The effective portion of changes in the fair
derivatif yang ditujukan dan memenuhi kualifikasi value of derivatives that are designated and
sebagai lindung nilai arus kas, diakui sebagai qualified as cash flow hedges are recognized
“penghasilan komprehensif lain” pada bagian in “other comprehensive income” and reported
ekuitas. Keuntungan atau kerugian atas bagian to equity. The gain or loss relating to the
yang tidak efektif diakui langsung sebagai laba ineffective portion is recognized immediately in
atau rugi. Jumlah akumulasi keuntungan atau profit or loss. Amounts accumulated in equity
kerugian dalam ekuitas dibebankan sebagai laba are recycled to profit or loss in the periods in
atau rugi komprehensif ketika unsur yang which the hedged item will affect net profit.
dilindungi nilainya mempengaruhi laba neto.
Ketika instrumen lindung nilai kadaluwarsa atau When the hedging instrument expires or is
dijual, dihentikan, dilaksanakan, atau tidak lagi sold, terminated, exercised or no longer
memenuhi kriteria akuntansi lindung nilai, qualifies for hedge accounting, the cumulative
keuntungan atau kerugian kumulatif yang amount deferred in equity remains in the “other
ditangguhkan di ekuitas tetap diakui pada comprehensive income” and is subsequently
“penghasilan komprehensif lain” dan transferred to profit or loss when the hedged
direklasifikasi ke laba rugi ketika item yang item is recognized in the statement of profit or
dilindungi nilai diakui dalam laporan laba rugi dan loss and other comprehensive income.
penghasilan komprehensif lain.
u. Pengakuan pendapatan dan beban u. Income and expense recognition
Pendapatan dari pembiayaan konsumen dan Income from consumer financing and finance
sewa pembiayaan, komisi asuransi dan biaya lease, insurance commission and insurance
jasa perantara asuransi serta beban bunga untuk brokerage fee and expense for all interest
semua instrumen keuangan dengan interest bearing financial instruments are recognized
bearing diakui sesuai dengan jangka waktu over the term of the respective contracts using
kontrak berdasarkan metode suku bunga efektif. the effective interest rate method.
Metode suku bunga efektif adalah metode yang The effective interest method is a method of
digunakan untuk menghitung biaya perolehan calculating the amortized cost of a financial
diamortisasi dari aset keuangan atau liabilitas asset or a financial liability and of allocating the
keuangan dan metode untuk mengalokasikan interest income or interest expense over the
pendapatan bunga atau beban bunga selama relevant period. The effective interest rate is
periode yang relevan. Suku bunga efektif adalah the rate that exactly discounts estimated future
suku bunga yang secara tepat mendiskontokan cash payments or receipts through the
estimasi pembayaran atau penerimaan kas di expected life of the financial instrument or,
masa datang selama perkiraan umur dari when appropriate, a shorter period to the net
instrumen keuangan, atau jika lebih tepat, carrying amount of the financial asset or
digunakan periode yang lebih singkat untuk financial liability.
memperoleh nilai tercatat bersih dari aset
keuangan atau liabilitas keuangan.
39
Page 343
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
u. Pengakuan pendapatan dan beban (lanjutan) u. Income and expense recognition
(continued)
Pada saat menghitung suku bunga efektif, When calculating the effective interest rate, the
Perseroan mengestimasi arus kas dengan Company estimates cash flows considering all
mempertimbangkan seluruh persyaratan contractual terms of the financial instruments
kontraktual dalam instrumen keuangan tersebut, but does not consider future credit losses.
namun tidak mempertimbangkan kerugian kredit These calculations include transaction costs
di masa datang. Perhitungan ini mencakup biaya and administration income.
transaksi dan pendapatan administrasi.
Pendapatan bunga bank dan denda The bankʼs interest income and late payment
keterlambatan pembayaran diakui pada saat penalties are recognized upon receipt. Interest
terjadinya. Pendapatan bunga bank disajikan income is presented on a gross basis in the
secara bruto pada laporan laba rugi dan statement of profit or loss and other
penghasilan komprehensif lain. comprehensive income.
Pendapatan dan beban lain diakui pada saat Other Income and expense are recognized as
terjadinya, menggunakan dasar akrual. incurred on an accrual basis.
v. Segmen Operasi v. Operating Segment
Segmen operasi adalah suatu komponen dari An operating segment is a component of an
entitas: entity:
i. yang terlibat dalam aktivitas bisnis yang i. that engages with business activities to
memperoleh pendapatan dan menimbulkan generate income and expenses (including
beban (termasuk pendapatan dan beban income and expenses relating to the
yang terkait dengan transaksi dengan transactions with other components with the
komponen lain dari entitas yang sama); same entity);
ii. yang hasil operasinya dikaji ulang secara ii. whose operating results are observed
berkala oleh kepala operasional untuk regularly by the chief decision maker to
pembuatan keputusan tentang sumber daya make decisions regarding the allocation of
yang dialokasikan pada segmen tersebut dan resources and to evaluate the works; and,
menilai kinerjanya; dan,
iii. yang tersedia informasi keuangan yang dapat iii. for which separate financial information is
dipisahkan. available.
Perseroan menyajikan segmen operasi The Company presents operating segments
berdasarkan informasi yang disiapkan secara based on the information that is internally
internal untuk pengambil keputusan operasional. provided to the chief operating decision maker.
Pengambil keputusan operasional Perseroan The Companyʼs chief operating decision
adalah Direksi. makers are the Directors.
Segmen operasi Perseroan disajikan The Company discloses the operating
berdasarkan segmen usaha yang terdiri dari segment and presents based on business
Fleet dan ritel (lihat Catatan 30). segment which consists of Fleet and Retail
(refer to Note 30).
40
Page 344
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
w. Perubahan kebijakan akuntansi dan w. Changes in accounting policies and
pengungkapan disclosures
Perseroan telah menerapkan standar akuntansi The Company adopted the following
berikut pada tanggal 1 Januari 2023 yang accounting standards, which are considered
dianggap relevan: relevant, starting on 1 January 2023:
Amandemen PSAK 1: Penyajian laporan Amendment of PSAK 1: Presentation of
keuangan tentang Pengungkapan Kebijakan financial statements - Disclosure of accounting
Akuntansi policies
Amandemen ini memberikan panduan dan This amendments provides guidance and
contoh untuk membantu entitas menerapkan examples to help entities apply materiality
pertimbangan materialitas dalam pengungkapan judgements to accounting policy disclosures.
kebijakan akuntansi. Amandemen tersebut The amendment aims to help entities provide
bertujuan untuk membantu entitas menyediakan accounting policy disclosures that are more
pengungkapan kebijakan akuntansi yang lebih useful by replacing the requirement for entities
berguna dengan mengganti persyaratan untuk to disclose their ʻsignificantʼ accounting
mengungkapkan kebijakan akuntansi 'signifikan' policies with a requirement to disclose their
entitas dengan persyaratan untuk ʻmaterialʼ accounting policies and adding
mengungkapkan kebijakan akuntansi 'material' guidance on how entities apply the concept of
entitas dan menambahkan panduan tentang materiality in making decisions about
bagaimana entitas menerapkan konsep accounting policy disclosures.
materialitas dalam membuat keputusan tentang
pengungkapan kebijakan akuntansi.
Amandemen PSAK 16: Aset Tetap - Hasil Amendments to PSAK 16: Fixed Assets -
sebelum Penggunaan yang Diintensikan Proceeds before Intended Use.
Amandemen ini tidak memperbolehkan entitas The amendments prohibit entities to deduct
untuk mengurangi suatu hasil penjualan item from the cost of an item of fixed assets, any
yang diproduksi saat membawa aset tersebut ke proceeds from selling items produced while
lokasi dan kondisi yang diperlukan supaya aset bringing that asset to the location and
dapat beroperasi sesuai dengan intensi condition necessary for it to be capable of
manajemen dari biaya perolehan suatu aset operating in the manner intended by
tetap. Sebaliknya, entitas mengakui hasil dari management. Instead, an entity recognizes
penjualan item-item tersebut, dan biaya untuk the proceeds from selling such items, and the
memproduksi item-item tersebut, dalam laba costs of producing those items, in the profit or
rugi. loss.
Amandemen PSAK 25: Kebijakan Akuntansi, Amendment of PSAK 25: Accounting Policies,
Perubahan Estimasi Akuntansi, dan Kesalahan Changes in Accounting Estimates and Errors –
terkait Definisi Estimasi Akuntansi Definition of Accounting Estimates
Amandemen tersebut memperkenalkan definisi The amendments introduce a definition of
'estimasi akuntansi' dan mengklarifikasi ʻaccounting estimatesʼ and clarify the
perbedaan antara perubahan estimasi akuntansi distinction between changes in accounting
dan perubahan kebijakan akuntansi dan koreksi estimates and changes in accounting policies
kesalahan. Amandemen tersebut juga and the correction of errors. Also, they clarify
mengklarifikasi bagaimana entitas how entities use measurement techniques and
menggunakan teknik pengukuran dan input inputs to develop accounting estimates.
untuk mengembangkan estimasi akuntansi.
41
Page 345
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued)
w. Perubahan kebijakan akuntansi dan w. Changes in accounting policies and
pengungkapan (lanjutan) disclosures (continued)
Amandemen PSAK 46: Pajak Penghasilan Amendment of PSAK 46: Income Taxes –
tentang Pajak Tangguhan Terkait Aset dan Deferred Tax relating to Assets and Liabilities
Liabilitas Yang Timbul Dari Transaksi Tunggal arising from a Single Transaction
Amendemen ini mengusulkan agar entitas This amendment proposes that entities
mengakui aset maupun liabilitas pajak recognize deferred tax assets and liabilities at
tangguhan pada saat pengakuan awalnya the time of initial recognition, for example from
sebagai contoh dari transaksi sewa, untuk a lease transaction, to eliminate differences in
mengeliminasi perbedaan praktik saat ini atas current practice for such transactions and
transaksi tersebut dan transaksi lain yang similar transactions.
serupa.
Perseroan telah menganalisa penerapan The Company has assessed that the adoption
standar akuntansi di atas dan tidak memiliki of the above mentioned accounting standards
pengaruh yang signifikan terhadap laporan does not have significant impact to the financial
keuangan. statements.
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG SIGNIFIKAN ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan Perseroan The preparation of the Companyʼs financial
mengharuskan manajemen untuk membuat statements requires management to make
pertimbangan, estimasi dan asumsi yang judgments, estimates and assumptions that affect
mempengaruhi jumlah yang dilaporkan atas the reported amounts of revenues, expenses,
pendapatan, beban, aset dan liabilitas dan assets and liabilities, and the disclosure of
pengungkapan atas liabilitas kontinjensi, pada akhir contingent liabilities, at the end of the reporting
periode pelaporan. period.
Ketidakpastian mengenai asumsi dan estimasi Uncertainty about these assumptions and
tersebut dapat mengakibatkan penyesuaian material estimates could result in outcomes that require a
terhadap nilai tercatat aset dan liabilitas dalam material adjustment to the carrying amount of the
periode pelaporan berikutnya. asset and liability affected in future periods.
Pertimbangan Judgements
Pertimbangan berikut ini dibuat oleh manajemen The following judgements are made by
dalam rangka penerapan kebijakan akuntansi management in the process of applying the
Perseroan yang memiliki pengaruh paling signifikan Companyʼs accounting policies that have the most
atas jumlah yang diakui dalam laporan keuangan: significant effects on the amounts recognized in the
financial statements:
Klasifikasi aset dan liabilitas keuangan Classification of financial assets and financial
liabilities
Aset keuangan dan liabilitas keuangan diakui sesuai Financial assets and financial liabilities are
dengan kebijakan akuntansi seperti yang accounted for in accordance with the accounting
diungkapkan pada Catatan 2c. policies as disclosed in Note 2c.
42
Page 346
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgements (continued)
Usaha yang berkelanjutan Going Concern
Manajemen Perseroan telah melakukan penilaian The Companyʼs management has made an
atas kemampuan Perseroan untuk melanjutkan assessment of the Companyʼs ability to continue as
kelangsungan usahanya dan berkeyakinan bahwa a going concern and is satisfied that the Company
Perseroan memiliki sumber daya untuk melanjutkan has the resources to continue its business for the
usahanya di masa mendatang. Selain itu, foreseeable future. Furthermore, the management
manajemen tidak mengetahui adanya ketidakpastian is not aware of any material uncertainties that may
material yang dapat menimbulkan keraguan yang cast significant doubt upon the Companyʼs ability to
signifikan terhadap kemampuan Perseroan untuk continue as a going concern. Therefore, the
melanjutkan kelangsungan usahanya. Oleh karena financial statements continue to be prepared on the
itu, laporan keuangan telah disusun atas dasar usaha going concern basis.
yang berkelanjutan.
Estimasi dan Asumsi Estimates and Assumptions
a. Cadangan kerugian penurunan nilai a. Allowance for impairment losses
PSAK 71 mensyaratkan penyertaan informasi SFAS 71 requires inclusion of information
tentang kejadian masa lalu, kondisi saat ini dan about past events, current conditions and
perkiraan kondisi ekonomi masa depan. forecasts of future economic conditions. The
Perkiraan perubahan dalam kerugian kredit yang estimates of changes in expected credit losses
diharapkan harus mencerminkan, dan secara should reflect, and be directionally consistent
langsung konsisten dengan, perubahan dalam with, changes in related observable data from
data terkait yang diobservasi dari periode ke period to period. The calculation of collective
periode. Perhitungan kerugian kredit expected credit losses of financial assets
ekspektasian secara kolektif atas aset keuangan requires estimation of forward looking
membutuhkan estimasi forward looking dari Probability of Default (PD), Loss Given Default
Probability of Default (PD), Loss Given Default (LGD) and Exposure at Default (EAD) (refer to
(LGD) dan Exposure at Default (EAD) (lihat Note 2c).
Catatan 2c).
b. Imbalan kerja b. Post-employment benefits
Perhitungan aktuaria menggunakan asumsi- The actuarial valuation involves making
asumsi seperti tingkat diskonto, tingkat assumptions about discount rate, expected
pengembalian investasi, tingkat kenaikan gaji, rate of return, on investments, future salary
tingkat kematian, tingkat pengunduran diri dan increases, mortality rate, resignation rate and
lain-lain. Perubahan asumsi ini akan others. Any changes in these assumptions will
mempengaruhi jumlah tercatat liabilitas imbalan impact the carrying amount of employee
kerja (lihat Catatan 2n). benefits obligations (refer to Note 2n).
c. Penyusutan dan estimasi umur manfaat aset c. Depreciation and estimated useful lives of
tetap fixed assets
Biaya perolehan aset tetap disusutkan dengan The costs of fixed assets are depreciated on a
menggunakan metode garis lurus berdasarkan straight-line method over their estimated
estimasi masa manfaat ekonomisnya. useful lives. Management properly estimates
Manajemen mengestimasi masa manfaat the useful lives of these fixed assets as
ekonomis aset tetap seperti diungkapkan pada disclosed in Note 2l. These are common life
Catatan 2l. Ini adalah umur yang secara umum expectancies applied in the industries where
diharapkan dalam industri dimana Perseroan the Company conducts its businesses.
menjalankan bisnisnya. Perubahan tingkat Changes in the expected level of usage and
pemakaian dan perkembangan teknologi dapat technological development could impact the
mempengaruhi masa manfaat ekonomis dan economic useful lives and the residual values
nilai sisa aset, dan karenanya biaya penyusutan of these assets, and therefore future
masa depan mungkin direvisi. depreciation charges could be revised.
43
Page 347
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
d. Pajak penghasilan d. Income tax
Pertimbangan signifikan dilakukan dalam Significant judgment is involved in determining
menentukan provisi atas pajak penghasilan provision for corporate income tax. There are
badan. Terdapat transaksi dan perhitungan certain transaction and computation for which
tertentu yang penentuan pajak akhirnya adalah the ultimate tax determination is uncertain
tidak pasti sepanjang kegiatan usaha normal. during the ordinary course of business. The
Perseroan mengakui liabilitas atas pajak Company recognizes liabilities for expected
penghasilan badan berdasarkan estimasi corporate income tax issues based on
apakah terdapat tambahan pajak penghasilan estimates of whether additional corporate
badan. income tax will be due.
e. Pajak tangguhan e. Deferred tax assets
Aset pajak tangguhan diakui atas jumlah pajak Deferred tax assets are recognized for the
penghasilan terpulihkan (recoverable) pada future recoverable taxable income arising from
periode mendatang sebagai akibat perbedaan temporary difference.
temporer yang boleh dikurangkan.
Justifikasi manajemen diperlukan untuk Management judgment is required to
menentukan jumlah aset pajak tangguhan yang determine the amount of deferred tax assets
dapat diakui, sesuai dengan waktu yang tepat that can be recognized, based upon the likely
dan tingkat laba fiskal di masa mendatang timing or level of future taxable profits together
sejalan dengan strategi rencana perpajakan ke with future strategic planning (Note 2m).
depan (Catatan 2m).
f. Nilai wajar instrumen keuangan f. Fair values of financial instruments
Dalam menentukan nilai wajar aset keuangan In determining the fair value for financial assets
dan liabilitas yang tidak mempunyai harga pasar, and financial liabilities for which there is no
Perseroan menggunakan teknik penilaian observable market price, the Company uses
seperti yang dijelaskan dalam Catatan 2c. Untuk the valuation techniques as described in
instrumen keuangan yang jarang Note 2c. For financial instruments that are
diperdagangkan dan memiliki informasi harga traded infrequently and a lack of price
yang terbatas, nilai wajar menjadi kurang objektif transparency, fair value is less objective and
dan membutuhkan berbagai tingkat penilaian requires varying degrees of judgement
tergantung pada likuiditas, konsentrasi, faktor depending on liquidity, concentration,
ketidakpastian pasar, asumsi harga dan risiko uncertainty of market factors, pricing
lainnya. assumptions and other risks affecting the
specific instrument.
Masukan (input) untuk model ini berasal dari The input for this model comes from
data pasar yang bisa diamati. Bila data pasar observable market data. When observable
yang bisa diamati tersebut tidak tersedia, market data is not available, management
manajemen mempertimbangkan masukan dan considers necessary inputs and assumptions
asumsi diperlukan untuk menentukan nilai wajar. to determine the fair value. The above
Pertimbangan tersebut mencakup feedback considerations include liquidity and volatility
model atas likuiditas volatilitas untuk transaksi feedback model for derivative transactions and
derivatif dan tingkat diskonto yang berjangka long term discount rate, the level of early
waktu panjang, tingkat pelunasan dipercepat dan payment and the level of default assumption.
asumsi tingkat gagal bayar.
44
Page 348
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGEMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
g. Penetapan masa sewa untuk kontrak sewa g. Determination of the lease term for lease
dengan opsi pembaruan dan penghentian contracts with renewal and termination
(Perseroan sebagai penyewa) options (The Company as a lessee)
Perseroan menentukan masa sewa sebagai The Company determines the lease term as
periode sewa yang tidak dapat dibatalkan, serta the noncancellable term of the lease, together
periode yang dicakup oleh opsi untuk with any periods covered by an option to
memperpanjang sewa, jika penyewa cukup pasti extend the lease if it is reasonably certain to be
untuk mengeksekusi opsi tersebut, dan periode exercised, or any periods covered by an option
yang dicakup oleh opsi untuk menghentikan to terminate the lease, if it is reasonably certain
sewa, jika penyewa cukup pasti untuk tidak not to be exercised.
mengeksekusi opsi tersebut.
Perseroan memiliki beberapa kontrak sewa The Company has several lease contracts that
dengan opsi perpanjangan dan opsi include extension and termination options. The
penghentian. Perseroan menerapkan Company applies judgement in evaluating
pertimbangan dalam mengevaluasi apakah whether it is reasonably certain whether or not
penyewa cukup pasti untuk mengeksekusi opsi to exercise the option to renew or terminate the
pembaruan atau penghentian sewa tersebut. lease. That is, it considers all relevant factors
Perseroan mempertimbangkan semua faktor- that create an economic incentive for it to
faktor relevan yang menciptakan insentif exercise either the renewal or termination.
ekonomi jika Perseroan mengeksekusi opsi After the commencement date, the Company
pembaruan atau penghentian tersebut. Setelah reassesses the lease term if there is a
dimulainya masa sewa, Perseroan menilai significant event or change in circumstances
kembali masa sewa jika terdapat peristiwa atau that is within its control that affects its ability to
perubahan signifikan pada lingkungan dalam exercise or not to exercise the option to renew
kendalinya yang mempengaruhi kemampuan or to terminate (e.g., construction of significant
Perseroan untuk mengeksekusi atau tidak leasehold improvements or significant
mengeksekusi opsi pembaruan atau customisation of the leased asset).
penghentian sewa (misalnya, konstruksi dari
pengembangan prasarana yang signifikan atau
penyesuaian signifikan dari aset sewa).
4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
31 Desember/ 31 Desember/
December 2023 December 2022
Kas 18.194 13.602 Cash on hand
Kas pada bank Cash in banks
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Central Asia Tbk 1.138 1.023 PT Bank Central Asia Tbk
PT Bank Permata Tbk 56 16 PT Bank Permata Tbk
PT Bank OCBC NISP Tbk 31 31 PT Bank OCBC NISP Tbk
PT Bank Pan Indonesia Tbk 22 20 PT Bank Pan Indonesia Tbk
PT China Construction Bank PT China Construction Bank
Indonesia Tbk 19 10 Indonesia Tbk
PT Bank Danamon Indonesia Tbk 18 14.270 PT Bank Danamon Indonesia Tbk
PT Bank CTBC Indonesia 18 18 PT Bank CTBC Indonesia
PT Bank DKI 18 17 PT Bank DKI
PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah
Jawa Barat dan Banten Tbk 18 15 Jawa Barat and Banten Tbk
PT Bank BTPN Tbk 17 21 PT Bank BTPN Tbk
PT Bank UOB Indonesia 17 16 PT Bank UOB Indonesia
PT Bank CIMB Niaga Tbk 16 17 PT Bank CIMB Niaga Tbk
45
Page 349
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)
31 Desember/ 31 Desember/
December 2023 December 2022
Kas pada bank (lanjutan) Cash in banks (continued)
Pihak ketiga (lanjutan) Third parties (continued)
Rupiah (lanjutan) Rupiah (continued)
PT Bank KEB Hana Indonesia 16 16 PT Bank KEB Hana Indonesia
MUFG Bank, Ltd., Cabang Jakarta 15 15 MUFG Bank, Ltd.,Jakarta Branch
PT Bank Oke Indonesia Tbk 15 8 PT Bank Oke Indonesia Tbk
PT Bank QNB Indonesia Tbk 14 15 PT Bank QNB Indonesia Tbk
PT Bank Mizuho Indonesia 14 11 PT Bank Mizuho Indonesia
PT Bank HSBC Indonesia 11 3 PT Bank HSBC Indonesia
PT Bank ANZ Indonesia 10 11 PT Bank ANZ Indonesia
PT Bank Maybank Indonesia Tbk 5 - PT Bank Maybank Indonesia Tbk
PT Bank of India Indonesia Tbk 5 - PT Bank of India Indonesia Tbk
PT Bank Maspion Indonesia Tbk 2 - PT Bank Maspion Indonesia Tbk
1.495 15.553
Pihak berelasi Related parties
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 781.632 761.003 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 798 264 (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 15 7 (Persero) Tbk
PT Bank Mandiri Taspen 6 7 PT Bank Mandiri Taspen
782.451 761.281
Deposito berjangka Time deposits
Pihak Berelasi Related Parties
Rupiah Rupiah
PT Bank Mandiri Taspen 50.000 50.000 PT Bank Mandiri Taspen
852.140 840.436
Jangka waktu deposito berjangka yang dimiliki oleh The period of time deposits held by the Company is
Perseroan adalah satu bulan. one month.
Tingkat suku bunga deposito berjangka dan giro The interest rates for time deposits and current
dalam mata uang Rupiah untuk tahun yang berakhir accounts for the year ended 31 December 2023 and
pada tanggal 31 Desember 2023 dan 2022, berkisar 2022, are as follows:
sebagai berikut:
31 Desember/ 31 Desember/
December 2023 December 2022
Deposito 5,50% 4,75% - 5,25% Time deposits
Giro 0,00% - 3,00% 0,00% - 3,00% Current accounts
Penempatan deposito pada PT Bank Mandiri Taspen Placement of time deposit at PT Bank Mandiri
sebesar Rp50.000 adalah penempatan atas dana Taspen amounting to Rp50,000 represents the
hasil usaha yang berasal dari laba neto Perseroan placement of the funds derived from the Companyʼs
seperti yang dipersyaratkan oleh Undang-Undang net income as required by Law No. 40 article
No. 40 pasal 70 tentang “Perseroan Terbatas” yaitu 70 concerning “Limited Liability Companies”
kewajiban Perseroan untuk melakukan pencadangan whereby the Company shall make a reserve up to a
hingga mencapai paling sedikit 20% dari modal least 20% of the issued and fully paid up capital.
ditempatkan dan disetor penuh.
Lihat Catatan 26a untuk rincian saldo dan transaksi Refer to Note 26a for details of balances and
dengan pihak berelasi. transaction with related parties.
46
Page 350
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG PEMBIAYAAN KONSUMEN 5. CONSUMER FINANCING RECEIVABLES
31 Desember/ 31 Desember/
December 2023 December 2022
Piutang pembiayaan konsumen - bruto 56.405.366 46.507.804 Consumer financing receivables - gross
Dikurangi: Less:
Pembiayaan bersama - bruto: Joint financing - gross:
Rupiah Rupiah
Pihak berelasi (28.507.211) (25.720.307) Related parties
Piutang pembiayaan konsumen - bruto: Consumer financing receivables - gross:
Pembiayaan sendiri 27.898.155 20.787.497 Direct financing
Dikurangi: Less:
Pendapatan pembiayaan konsumen Unearned income
yang belum diakui on consumer financing
Rupiah Rupiah
Pihak ketiga (8.824.691) (7.307.297) Third parties
Dikurangi: Less:
Pendapatan yang belum diakui dari
pembiayaan bersama – bruto : Unearned joint financing - gross:
Rupiah Rupiah
Pihak berelasi 3.636.253 3.194.215 Related parties
Pendapatan pembiayaan Unearned income on consumer
konsumen yang belum diakui: financing:
Pembiayaan sendiri (5.188.438) (4.113.082) Direct financing
Piutang pembiayaan konsumen 22.709.717 16.674.415 Consumer finance receivables
Dikurangi: Less:
Cadangan kerugian penurunan nilai (347.894) (333.578) Allowance for impairment losses
Neto 22.361.823 16.340.837 Net
Perubahan nilai tercatat piutang pembiayaan The changes in the carrying value of consumer
konsumen dengan klasifikasi diamortisasi financing receivables classified as amortized by
berdasarkan stage untuk tahun yang berakhir stage for the year ended 31 December 2023 and
31 Desember 2023 dan 2022, adalah sebagai berikut: 2022, are as follows:
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 16.281.263 258.696 134.456 16.674.415 Beginning balance
Pengalihan ke kerugian kredit ekspektasian Transfer to the 12-month expected
12 bulan (stage 1) 193.259 (179.414) (13.845) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (1.020.750) 1.042.845 (22.095) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (205.779) (404.511) 610.290 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 15.247.993 717.616 708.806 16.674.415 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (2.333.566) (34.702) (22.403) (2.390.671) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 11.186.822 56.859 651.388 11.895.069 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (1.910.577) (324.915) (550.307) (2.785.799) Derecognized financial assets
Aset keuangan yang dihapusbuku (12.052) (61.217) (610.028) (683.297) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan 6.930.627 (363.975) (531.350) 6.035.302 during the year
Saldo akhir 22.178.620 353.641 177.456 22.709.717 Ending balance
47
Page 351
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 5. CONSUMER FINANCING RECEIVABLES
(continued)
Perubahan nilai tercatat piutang pembiayaan The changes in the carrying value of consumer
konsumen dengan klasifikasi diamortisasi financing receivables classified as amortized by
berdasarkan stage untuk tahun yang berakhir stage for the year ended 31 December 2023 and
31 Desember 2023 dan 2022, adalah sebagai berikut: 2022, are as follows: (continued)
(lanjutan)
31 Desember/December 2022
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 12.717.367 319.996 179.191 13.216.554 Beginning balance
Pengalihan ke kerugian kredit ekspektasian Transfer to the 12-month expected
12 bulan (stage 1) 250.858 (233.101) (17.757) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (764.633) 794.619 (29.986) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (153.565) (360.132) 513.697 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 12.050.027 521.382 645.145 13.216.554 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (2.861.586) (57.680) (23.567) (2.942.833) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 8.578.771 22.742 714 8.602.227 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (1.481.667) (203.198) (35.639) (1.720.504) Derecognized financial assets
Aset keuangan yang dihapusbuku (4.282) (24.550) (452.197) (481.029) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan 4.231.236 (262.686) (510.689) 3.457.861 during the year
Saldo akhir 16.281.263 258.696 134.456 16.674.415 Ending balance
Seluruh kontrak pembiayaan yang disalurkan All consumer financing contracts provided by
Perseroan adalah untuk kendaraan bermotor, Company are for motor vehicles, multipurpose,
multiguna, investasi, dan modal kerja. investment, and working capital.
Jangka waktu kontrak pembiayaan yang disalurkan The period of consumer financing contracts for
oleh Perseroan atas kendaraan bermotor berkisar motor vehicles ranged between 12 - 96 months.
antara 12 - 96 bulan.
Angsuran dari saldo piutang pembiayaan konsumen Installments of consumer financing receivables -
- bruto per 31 Desember 2023 dan 2022 yang akan gross balance as of 31 December 2023 and 2022
diterima dari konsumen berdasarkan tanggal jatuh which will be received from customers based on the
temponya adalah sebagai berikut: maturity dates, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Telah jatuh tempo Overdue
1 - 30 hari 1.200.143 979.753 1 – 30 days
31 - 60 hari 453.017 376.302 31 – 60 days
61 - 90 hari 376.890 270.030 61 – 90 days
> 90 hari 486.886 347.001 > 90 days
Belum jatuh tempo Not yet due
2023 - 16.590.471 2023
2024 19.103.105 13.752.419 2024
2025 16.392.797 8.636.469 2025
2026 10.731.796 4.222.184 2026
2027 dan seterusnya 7.660.732 1.333.175 2027 and on forward
56.405.366 46.507.804
48
Page 352
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 5. CONSUMER FINANCING RECEIVABLES
(continued)
Rata-rata suku bunga efektif yang dikenakan kepada Average effective interest rates charged to
konsumen untuk tahun yang berakhir pada tanggal customers for the years ended 31 December 2023
31 Desember 2023 dan 2022, adalah sebagai berikut: and 2022, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Mobil 10,96% 12,91% Car
Sepeda Motor 12,59% 13,93% Motorcycle
Multiguna 18,03% 16,89% Multipurpose
Modal Kerja 9,50% 9,67% Working Capital
Analisa umur piutang pembiayaan konsumen - bruto The aging analysis of consumer financing
adalah sebagai berikut: receivables - gross, is as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Belum jatuh tempo 53.888.430 44.534.718 Current
Lewat jatuh tempo: Overdue:
1 - 90 hari 2.030.050 1.626.085 1 - 90 days
91 - 120 hari 227.964 158.343 91 - 120 days
121 - 180 hari 250.250 167.501 121 - 180 days
> 180 hari 8.672 21.157 > 180 days
56.405.366 46.507.804
Piutang pembiayaan konsumen - bruto berdasarkan Consumer financing receivables - gross based on
kolektabilitas sesuai peraturan OJK: collectability in accordance with OJK regulations:
31 Desember/ 31 Desember/
December 2023 December 2022
Lancar 53.906.649 44.615.253 Current
Dalam perhatian khusus 2.011.831 1.545.550 Special mention
Kurang lancar 227.964 158.343 Substandard
Diragukan 250.250 167.501 Doubtful
Macet 8.672 21.157 Loss
56.405.366 46.507.804
Mutasi cadangan kerugian penurunan nilai untuk The movements in the allowance for impairment
tahun yang berakhir pada tanggal 31 Desember 2023 losses for years ended 31 December 2023 and
dan 2022 adalah sebagai berikut: 2022, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 333.578 327.003 Beginning balance
Penyisihan untuk tahun berjalan 697.613 487.604 Provision for the year
Penghapusan piutang (683.297) (481.029) Receivables written-off
Saldo akhir 347.894 333.578 Ending balance
49
Page 353
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 5. CONSUMER FINANCING RECEIVABLES
(continued)
Mutasi cadangan kerugian penurunan nilai untuk The movements in the allowance for impairment
tahun yang berakhir pada tanggal 31 Desember 2023 losses for years ended 31 December 2023 and
dan 2022 adalah sebagai berikut: (lanjutan) 2022, are as follows: (continued)
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Saldo awal 223.868 62.559 47.151 333.578 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage 1) 17.644 (15.153) (2.491) - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (25.402) 29.207 (3.805) - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (7.426) (41.206) 48.632 - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 208.684 35.407 89.487 333.578 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian (30.185) 154.578 759.144 883.537 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 85.648 17.913 4.384 107.945 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (28.998) (78.637) (186.234) (293.869) Derecognized financial assets
Total pembentukan tahun berjalan 26.465 93.854 577.294 697.613 Total build-up during the year
Aset keuangan yang dihapusbuku (12.052) (61.217) (610.028) (683.297) Financial assets written-off
Saldo akhir 223.097 68.044 56.753 347.894 Ending balance
31 Desember/December 2022
Stage 1 Stage 2 Stage 3 Total
Saldo awal 228.154 45.516 53.333 327.003 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage 1) 15.784 (13.796) (1.988) - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (15.495) 19.256 (3.761) - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (4.569) (29.109) 33.678 - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 223.874 21.867 81.262 327.003 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian (78.806) 97.783 556.762 575.739 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 99.446 10.233 426 110.105 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (16.364) (42.774) (139.102) (198.240) Derecognized financial assets
Total pembentukan tahun berjalan 4.276 65.242 418.086 487.604 Total build-up during the year
Aset keuangan yang dihapusbuku (4.282) (24.550) (452.197) (481.029) Financial assets written-off
Saldo akhir 223.868 62.559 47.151 333.578 Ending balance
50
Page 354
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 5. CONSUMER FINANCING RECEIVABLES
(continued)
Seluruh piutang pembiayaan konsumen pada tanggal All consumer financing receivables as of
31 Desember 2023 dan 2022 dievaluasi secara 31 December 2023 and 2022 are collectively
kolektif terhadap penurunan nilai. evaluated for impairment.
Jumlah minimum cadangan penyisihan penghapusan The minimum allowance for consumer financing
piutang pembiayaan untuk piutang pembiayaan receivables based on OJK Regulation
konsumen sesuai dengan Peraturan OJK No. No. 35/POJK.05/2018 dated 27 December 2018
35/POJK.05/2018 tanggal 27 Desember 2018 amounted to Rp317,568 and Rp240,278 as of
masing-masing adalah sebesar Rp317.568 dan 31 December 2023 and 2022, respectively.
Rp240.278 pada tanggal 31 Desember 2023 dan
2022.
Piutang pembiayaan konsumen yang The percentage of restructured consumer financing
direstrukturisasi pada tanggal 31 Desember 2023 receivables as of 31 December 2023 is 0.27% of the
adalah sebesar 0,27% dari saldo piutang consumer financing receivables balance - gross
pembiayaan konsumen - bruto (31 Desember 2022: (31 December 2022: 0.22%).
0,22%).
Pada tanggal 31 Desember 2023, piutang As of 31 December 2023, total consumer financing
pembiayaan konsumen yang digunakan sebagai receivables pledged as collateral for borrowings
jaminan atas pinjaman yang diterima oleh Perseroan and bonds payable as disclosed respectively in
dan utang obligasi seperti yang masing-masing Notes 15 and 17 amounted to Rp12,473,360
dijelaskan pada Catatan 15 dan 17 adalah sejumlah (31 December 2022: Rp9,414,454).
Rp12.473.360 (31 Desember 2022: Rp9.414.454).
Manajemen berkeyakinan bahwa cadangan kerugian Management believes that the allowance for
penurunan nilai tersebut adalah cukup untuk impairment losses is sufficient to cover any possible
menutupi kemungkinan kerugian dari tidak losses from uncollectible consumer financing
tertagihnya piutang pembiayaan konsumen. receivables.
51
Page 355
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG SEWA PEMBIAYAAN 6. FINANCE LEASE RECEIVABLES
31 Desember/ 31 Desember/
December 2023 December 2022
Piutang sewa pembiayaan Finance lease receivables
Piutang sewa pembiayaan - bruto 6.265.251 6.657.743 Finance lease receivables - gross
Dikurangi: Less:
Pembiayaan bersama - bruto: Joint financing - gross:
Rupiah Rupiah
Pihak berelasi (28.620) (102.811) Related parties
Nilai sisa yang terjamin 2.672.995 2.551.829 Guaranteed residual value
Piutang sewa pembiayaan - bruto: Finance lease receivables - gross:
Pembiayaan sendiri 8.909.626 9.106.761 Direct financing
Dikurangi: Less:
Pendapatan sewa pembiayaan Unearned income
yang belum diakui: on finance lease receivables:
Rupiah Rupiah
Pihak ketiga (820.377) (777.977) Third parties
Simpanan jaminan (2.672.995) (2.551.829) Security deposit
Dikurangi: Less:
Pendapatan yang belum diakui dari
pembiayaan bersama – bruto : Unearned joint financing - gross:
Rupiah Rupiah
Pihak berelasi 611 5.070 Related parties
Pendapatan sewa Unearned lease income
pembiayaan yang belum diakui: financing:
Pembiayaan sendiri (3.492.761) (3.324.736) Direct financing
Piutang sewa pembiayaan 5.416.865 5.782.025 Finance lease receivables
Dikurangi: Less:
Cadangan kerugian penurunan nilai (69.293) (138.679) Allowance for impairment losses
Neto 5.347.572 5.643.346 Net
Perubahan nilai tercatat piutang sewa pembiayaan The changes in the carrying value of finance lease
dengan klasifikasi diamortisasi berdasarkan stage receivables classified as amortized by stage for the
untuk tahun yang berakhir 31 Desember 2023 dan year ended 31 December 2023 and 2022, are as
2022, adalah sebagai berikut: follows:
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 5.658.311 96.925 26.789 5.782.025 Beginning balance
Pengalihan ke kerugian kredit ekspektasian Transfer to the 12-month expected
12 bulan (stage 1) 31.076 (29.625) (1.451) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (245.387) 248.808 (3.421) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (14.323) (46.353) 60.676 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 5.429.677 269.755 82.593 5.782.025 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (1.849.789) (72.900) (802) (1.923.491) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 2.459.900 40.856 78.587 2.579.343 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (747.618) (130.776) (66.182) (944.576) Derecognized financial assets
Aset keuangan yang dihapusbuku (69) (1.252) (75.115) (76.436) Financial assets written-off
Total penurunan tahun berjalan (137.576) (164.072) (63.512) (365.160) Total deduction during the year
Saldo akhir 5.292.101 105.683 19.081 5.416.865 Ending balance
52
Page 356
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG SEWA PEMBIAYAAN (lanjutan) 6. FINANCE LEASE RECEIVABLES (continued)
31 Desember/December 2022
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 4.649.557 111.218 24.070 4.784.845 Beginning balance
Pengalihan ke kerugian kredit ekspektasian Transfer to the 12-month expected
12 bulan (stage 1) 65.550 (62.877) (2.673) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (200.947) 207.924 (6.977) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (9.077) (61.745) 70.822 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 4.505.083 194.520 85.242 4.784.845 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (1.068.792) (22.745) (1.621) (1.093.158) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 2.897.322 25.071 6.008 2.928.401 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (675.233) (99.820) (22.344) (797.397) Derecognized financial assets
Aset keuangan yang dihapusbuku (69) (101) (40.496) (40.666) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan 1.153.228 (97.595) (58.453) 997.180 during the year
Saldo akhir 5.658.311 96.925 26.789 5.782.025 Ending balance
Jangka waktu kontrak pembiayaan yang disalurkan The period of consumer financing contracts for
oleh Perseroan atas kendaraan bermotor dan alat motor vehicles and heavy equipment ranged
berat berkisar antara 12 - 66 bulan. between 12 - 66 months.
Piutang sewa pembiayaan - bruto sesuai dengan Finance lease receivables - gross based on
tanggal jatuh temponya sebagai berikut: maturity date, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Telah jatuh tempo Overdue
1 - 30 hari 121.427 82.260 1 – 30 days
31 - 60 hari 49.498 26.020 31 – 60 days
61 - 90 hari 73.545 81.639 61 – 90 days
> 90 hari 22.073 29.803 > 90 days
Belum jatuh tempo Not yet due
2023 - 3.256.233 2023
2024 3.152.308 2.282.796 2024
2025 1.887.193 805.659 2025
2026 780.060 85.755 2026
2027 dan seterusnya 179.147 7.578 2027 and on forward
6.265.251 6.657.743
Mutasi cadangan kerugian penurunan nilai untuk The movements in the allowance for impairment
tahun yang berakhir pada tanggal 31 Desember 2023 losses for years ended 31 December 2023 and
dan 2022 adalah sebagai berikut: 2022, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 138.679 129.789 Beginning balance
Penyisihan untuk tahun berjalan 7.050 49.556 Provision for the year
Penghapusan piutang (76.436) (40.666) Receivables written-off
Saldo akhir 69.293 138.679 Ending balance
53
Page 357
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG SEWA PEMBIAYAAN (lanjutan) 6. FINANCE LEASE RECEIVABLES (continued)
Mutasi cadangan kerugian penurunan nilai untuk The movements in the allowance for impairment
tahun yang berakhir pada tanggal 31 Desember 2023 losses for years ended 31 December 2023 and
dan 2022 adalah sebagai berikut: 2022, are as follows:
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Saldo awal 93.751 35.189 9.739 138.679 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage 1) 2.584 (2.447) (137) - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (4.088) 4.820 (732) - not credit-impaired (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (375) (4.549) 4.924 - credit-impaired (stage 3)
Total saldo awal setelah pengalihan 91.872 33.013 13.794 138.679 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian (36.288) 2.692 86.479 52.883 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 6.904 14.892 1.526 23.322 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (17.232) (30.462) (21.461) (69.155) Derecognized financial assets
Total pembentukan tahun berjalan (46.616) (12. 878) 66.544 7.050 Total build-up during the year
Aset keuangan yang dihapusbuku (69) (1.252) (75.115) (76.436) Financial assets written-off
Saldo akhir 45.187 18.883 5.223 69.293 Ending balance
31 Desember/December 2022
Stage 1 Stage 2 Stage 3 Total
Saldo awal 103.914 19.059 6.816 129.789 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage 1) 3.164 (2.910) (254) - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (2.399) 3.546 (1.147) - not credit-impaired (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (67) (4.579) 4.646 - credit-impaired (stage 3)
Total saldo awal setelah pengalihan 104.612 15.116 10.061 129.789 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian (20.832) 29.184 58.555 66.907 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 27.131 9.546 - 36.677 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (17.091) (18.556) (18.381) (54.028) Derecognized financial assets
Total pembentukan tahun berjalan (10.792) 20.174 40.174 49.556 Total build-up during the year
Aset keuangan yang dihapusbuku (69) (101) (40.496) (40.666) Financial assets written-off
Saldo akhir 93.751 35.189 9.739 138.679 Ending balance
54
Page 358
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG SEWA PEMBIAYAAN (lanjutan) 6. FINANCE LEASE RECEIVABLES (continued)
Seluruh piutang sewa pembiayaan pada tanggal All finance lease receivables as of
31 Desember 2023 dan 2022 dievaluasi secara 31 December 2023 and 2022 are collectively
kolektif terhadap penurunan nilai. evaluated for impairment.
Jumlah minimum cadangan penyisihan penghapusan The minimum allowance for finance lease
piutang pembiayaan untuk piutang sewa pembiayaan receivables based on OJK Regulation
sesuai dengan Peraturan OJK No. 35/POJK.05/2018 No. 35/POJK.05/2018 dated 27 December 2018
tanggal 27 Desember 2018 adalah masing-masing amounted Rp69,742 and Rp74,543 as of
sebesar Rp69.742 dan Rp74.543 pada tanggal 31 December 2023 and 2022, respectively.
31 Desember 2023 dan 2022.
Piutang sewa pembiayaan yang direstrukturisasi The percentage of restructured finance lease
pada tanggal 31 Desember 2023 adalah sebesar receivables as of 31 December 2023
7,16% dari saldo piutang sewa pembiayaan - bruto is 7.16% of the finance lease receivables balance -
(31 Desember 2022: 2,83%). gross (31 December 2022: 2.83%).
Rata-rata suku bunga efektif yang dikenakan kepada Average effective interest rates charged to
konsumen piutang sewa pembiayaan untuk tahun customers for years ended 31 December 2023 and
yang berakhir pada tanggal 31 Desember 2023 dan 2022, are as follows:
2022 adalah sebagai berikut:
31 Desember/ 31 Desember/
December 2023 December 2022
Mobil 13,26% 10,28% Car
Alat berat 11,53% 11,85% Heavy equipment
Mesin 11,89% 12,39% Machine
Analisa umur piutang sewa pembiayaan - bruto The aging analysis of finance lease receivables -
adalah sebagai berikut: gross, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Belum jatuh tempo 5.998.708 6.438.020 Current
Lewat jatuh tempo: Overdue:
1 - 90 hari 244.470 189.920 1 - 90 days
91 - 120 hari 6.605 9.150 91 - 120 days
121 - 180 hari 15.468 20.653 121 - 180 days
6.265.251 6.657.743
Piutang sewa pembiayaan - bruto berdasarkan Finance lease receivables - gross based on
kolektabilitas sesuai peraturan OJK: collectability in accordance with OJK regulations:
31 Desember/ 31 Desember/
December 2023 December 2022
Lancar 6.003.045 6.446.268 Current
Dalam perhatian khusus 240.133 181.672 Special mention
Kurang lancar 6.605 9.150 Substandard
Diragukan 15.468 20.653 Doubtful
6.265.251 6.657.743
55
Page 359
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG SEWA PEMBIAYAAN (lanjutan) 6. FINANCE LEASE RECEIVABLES (continued)
Pada tanggal 31 Desember 2023, piutang sewa As of 31 December 2023, total finance lease
pembiayaan yang digunakan sebagai jaminan atas receivables pledged as collateral for borrowings
pinjaman yang diterima oleh Perseroan dan utang and bonds payable as disclosed respectively in
obligasi seperti yang dijelaskan masing-masing pada Note 15 and 17 amounted to Rp1,637,939
Catatan 15 dan 17 adalah sejumlah Rp1.637.939 (31 December 2021: Rp2,063,963).
(31 Desember 2022: Rp2.063.963).
Manajemen berpendapat bahwa jumlah cadangan Management believes that the existing allowance
kerugian penurunan nilai yang dibentuk adalah cukup for impairment losses is adequate to cover possible
untuk menutup kerugian yang mungkin timbul akibat losses arising from uncollectible finance lease
tidak tertagihnya piutang sewa pembiayaan. receivables.
7. ANJAK PIUTANG 7. FACTORING RECEIVABLES
Perseroan mengadakan perjanjian anjak piutang The Company has entered into factoring
dengan jaminan. Anjak piutang adalah sebagai agreements with recourse. Factoring receivables
berikut: are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Anjak piutang - bruto: 50.954 42.561 Factoring receivables - gross:
Dikurangi: Less:
Pendapatan anjak piutang Unearned income
yang belum diakui: on factoring receivables:
Rupiah Rupiah
Pihak ketiga (15.196) (92) Third parties
Anjak piutang 35.758 42.469 Factoring receivables
Dikurangi: Less:
Cadangan kerugian penurunan nilai (436) (9.493) Allowance for impairments losses
Neto 35.322 32.976 Net
56
Page 360
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. ANJAK PIUTANG (lanjutan) 7. FACTORING RECEIVABLES (continued)
Perubahan nilai tercatat anjak piutang dengan The changes in the carrying value of factoring
klasifikasi diamortisasi berdasarkan stage untuk receivables classified as amortized by stage for the
tahun yang berakhir 31 Desember 2023 dan 2022, year ended 31 December 2023 and 2022, are as
adalah sebagai berikut: follows:
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 42.469 - - 42.469 Beginning balance
Pengalihan ke kerugian kredit ekspektasian Transfer to the 12-month expected
12 bulan (stage 1) - - - - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) - - - - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) - - - - which are impaired (stage 3)
Total saldo awal setelah pengalihan 42.469 - - 42.469 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (345) - - (345) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 54.221 - - 54.221 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (60.587) - - (60.587) Derecognized financial assets
Total pengurangan Total deduction
tahun berjalan (6.711) - - (6.711) during the year
Saldo akhir 35.758 - - 35.758 Ending balance
31 Desember/December 2022
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 150.732 - 2.500 153.232 Beginning balance
Pengalihan ke kerugian kredit ekspektasian Transfer to the 12-month expected
12 bulan (stage 1) - - - - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) - - - - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) - - - - which are impaired (stage 3)
Total saldo awal setelah pengalihan 150.732 - 2.500 153.232 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat - - - - Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 304.762 - - 304.762 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (413.025) - - (413.025) Derecognized financial assets
Aset keuangan yang dihapusbuku - - (2.500) (2.500) Financial assets written-off
Total pengurangan Total deduction
tahun berjalan (108.263) - (2.500) (110.763) during the year
Saldo akhir 42.469 - - 42.469 Ending balance
Anjak piutang - bruto sesuai dengan tanggal jatuh Factoring receivables - gross based on maturity
temponya sebagai berikut: date, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Tahun Year
2023 - 42.561 2023
2024 11.117 - 2024
2025 11.117 - 2025
2026 11.117 - 2026
2027 dan seterusnya 17.603 - 2027 and on forward
50.954 42.561
57
Page 361
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. ANJAK PIUTANG (lanjutan) 7. FACTORING RECEIVABLES (continued)
Mutasi cadangan kerugian penurunan nilai untuk The movements in the allowance for impairment
tahun yang berakhir pada tanggal 31 Desember 2023 losses for years ended 31 December 2023 and
dan 2022 adalah sebagai berikut: 2022, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 9.493 930 Beginning balance
Penambahan(pembalikan) Provision(reversal)
Untuk tahun berjalan (9.057) 11.063 for the year
Penghapusan piutang - (2.500) Receivables written-off
Saldo akhir 436 9.493 Ending balance
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Saldo awal 9.493 - - 9.493 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage1) - - - - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) - - - - not credit-impaired (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) - - - - credit-impaired (stage 3)
Total saldo awal setelah pengalihan 9.493 - - 9.493 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian 12 - - 12 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 484 - - 484 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (9.553) - - (9.553) Derecognized financial assets
Total pembentukan tahun berjalan (9.057) - - (9.057) Total build-up during the year
Saldo akhir 436 - - 436 Ending balance
31 Desember/December 2022
Stage 1 Stage 2 Stage 3 Total
Saldo awal 165 - 765 930 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage1) - - - - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) - - - - not credit-impaired (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) - - - - credit-impaired (stage 3)
Total saldo awal setelah pengalihan 165 - 765 930 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian 10.313 - 1.735 12.048 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 197 - - 197 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (1.182) - - (1.182) Derecognized financial assets
Total pembentukan tahun berjalan 9.328 - 1.735 11.063 Total build-up during the year
Aset keuangan yang dihapusbuku - - (2.500) (2.500) Financial assets written-off
Saldo akhir 9.493 - - 9.493 Ending balance
58
Page 362
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. ANJAK PIUTANG (lanjutan) 7. FACTORING RECEIVABLES (continued)
Anjak piutang yang direstrukturisasi pada tanggal The percentage of restructured factoring
31 Desember 2023 adalah sebesar 100% dari saldo receivables as of 31 December 2023
anjak piutang - bruto (31 Desember 2022: 85,46%). is 100% of the factoring receivables balance - gross
(31 December 2022: 85.46%).
Jumlah minimum cadangan penyisihan penghapusan The minimum allowance for factoring receivables
piutang pembiayaan untuk anjak piutang sesuai based on OJK Regulation No. 35/POJK.05/2018
dengan Peraturan OJK No. 35/POJK.05/2018 dated 27 December 2018 amounted Rp358 and
tanggal 27 Desember 2018 adalah masing-masing Rp425 as of 31 December 2023 and 2022,
sebesar Rp358 dan Rp425 pada tanggal respectively.
31 Desember 2023 dan 2022.
Rata-rata suku bunga efektif yang dikenakan kepada Average effective interest rates charged to
konsumen untuk tahun yang berakhir pada tanggal customers for the years ended 31 December 2023
31 Desember 2023 dan 2022 adalah sebagai berikut: and 2022, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Anjak piutang 14,48% 12,74% Factoring receivables
Analisa umur anjak piutang - bruto adalah sebagai The aging analysis of factoring receivables - gross,
berikut: is as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Belum jatuh tempo 50.954 42.561 Current
50.954 42.561
Piutang sewa pembiayaan - bruto berdasarkan Finance lease receivables - gross based on
kolektabilitas sesuai peraturan OJK: collectability in accordance with OJK regulations:
31 Desember/ 31 Desember/
December 2023 December 2022
Lancar 50.954 42.561 Current
50.954 42.561
Manajemen berpendapat bahwa jumlah cadangan Management believes that the existing allowance
kerugian penurunan nilai yang dibentuk adalah cukup for impairment losses is adequate to cover possible
untuk menutup kerugian yang mungkin timbul akibat losses arising from uncollectible factoring
tidak tertagihnya anjak piutang. receivables.
59
Page 363
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
8. PIUTANG LAIN-LAIN 8. OTHER RECEIVABLES
31 Desember/ 31 Desember/
December 2023 December 2022
Pihak ketiga Third parties
Piutang asuransi 43.862 30.469 Insurance receivables
Piutang administrasi akseptasi 43.613 30.621 Acceptance administration receivables
Piutang penjualan kendaraan Receivables from sales of
jaminan 20.183 7.733 collateral vehicle
Lain-lain 12.011 21.100 Others
119.669 89.923
Pihak berelasi Related parties
Piutang pembiayaan bersama 473.710 385.343 Joint financing receivables
Piutang klaim penjaminan kredit 70.667 111.312 Credit guarantee claims receivables
Piutang administrasi akseptasi 2.486 2.667 Acceptance admnistration receivables
Lain-lain 620 620 Others
547.483 499.942
Piutang lain-lain 667.152 589.865 Other receivables
Dikurangi: Less:
Cadangan kerugian penurunan nilai (44.298) (140.425) Allowance for impairment losses
622.854 449.440
Piutang pembiayaan bersama merupakan piutang Joint financing receivables represent receivables
yang telah dijanjikan secara bersama untuk dibiayai, that have been jointly promised to be financed, but
namun belum ditagihkan ke pemberi pembiayaan have not been billed to the joint financing provider.
bersama.
Lihat Catatan 26a untuk rincian saldo dan transaksi Refer to Note 26a for details of balances and
dengan pihak berelasi. transactions with related parties.
Mutasi cadangan kerugian penurunan nilai untuk The movements in the allowance for impairment
tahun yang berakhir pada tanggal 31 Desember 2023 losses for years ended 31 December 2023 and
dan 2022 adalah sebagai berikut: 2022, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 140.425 121.548 Beginning balance
(Pembalikan) penambahan (Reversal) provision
untuk tahun berjalan (96.127) 18.877 for the year
Saldo akhir 44.298 140.425 Ending balance
Manajemen berkeyakinan bahwa cadangan kerugian Management believes that the allowance for
penurunan nilai adalah cukup untuk menutupi impairment losses is sufficient to cover any possible
kemungkinan kerugian dari tidak tertagihnya piutang. losses from uncollectible receivables.
9. PERPAJAKAN 9. TAXATION
a. Utang pajak kini a. Current tax liabilities
31 Desember/ 31 Desember/
December 2023 December 2022
Pasal 25 25.677 21.039 Article 25
Pasal 29 86.323 104.459 Article 29
Saldo akhir 112.000 125.498 Ending balance
60
Page 364
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERPAJAKAN (lanjutan) 9. TAXATION (continued)
b. Beban pajak b. Tax expense
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Kini 311.260 248.585 Current
Tangguhan (lihat Catatan 9c) 15.438 (37.837) Deferred (refer to Note 9c)
326.698 210.748
Rekonsiliasi antara beban pajak penghasilan The reconciliation between income tax expense
dengan hasil perkalian laba akuntansi sebelum and the theoretical tax amount on the Companyʼs
pajak penghasilan dan tarif pajak yang berlaku income before income tax and the applicable tax
adalah sebagai berikut: rate is as follows:
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Laba sebelum beban pajak Income before final tax and
final dan pajak penghasilan 1.491.226 963.994 income tax expense
Pajak dihitung pada tarif pajak 328.070 212.079 Tax calculated at tax rates
Penghasilan bunga dikenakan Interest income subjected to
pajak final (3.770) (3.336) final tax
Beban yang tidak dapat
dikurangkan 2.398 2.005 Non-deductible expenses
Beban pajak 326.698 210.748 Tax expense
Rekonsiliasi antara laba sebelum beban pajak Reconciliation between income before income
penghasilan menurut laporan laba rugi dan tax expense, as shown in the statement of profit
penghasilan komprehensif lain dengan or loss and other comprehensive income, and
penghasilan kena pajak adalah sebagai berikut: estimated taxable income is as follows:
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Laba sebelum beban pajak 1.491.226 963.994 Income before final tax and
final dan pajak penghasilan income tax expense
Koreksi fiskal: Fiscal corrections:
Beda temporer Temporary differences
Penyisihan bonus (34.531) 117.836 Provision for bonus
Penyisihan imbalan kerja karyawan 69.103 49.597 Provision for employee benefits
Penyisihan kerugian penurunan nilai Provision for impairment losses on
atas piutang lain-lain (96.290) 18.877 other receivables
Selisih antara nilai buku aset Difference in net book value
tetap komersial dan fiskal 710 1.777 between commercial and fiscal
Penyisihan penghapusan Provision for write-off
customer deposit 495 906 on customer deposit
Penyisihan kerugian penurunan nilai Provision for impairment losses on
atas piutang sewa pembiayaan on finance lease receivables
dan anjak piutang (7.296) (18.332) and factoring receivables
Penyisihan biaya jasa profesional (2.664) - Provision for professional service
61
Page 365
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERPAJAKAN (lanjutan) 9. TAXATION (continued)
b. Beban pajak (lanjutan) b. Tax expense (continued)
Rekonsiliasi antara laba sebelum beban pajak Reconciliation between income before income
penghasilan menurut laporan laba rugi dan tax expense, as shown in the statement of profit
penghasilan komprehensif lain dengan or loss and other comprehensive income, and
penghasilan kena pajak adalah sebagai berikut: estimated taxable income is as follows:
(lanjutan) (continued)
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Beda temporer Temporary differences
Transaksi aset hak guna 300 1.324 Right-of-use asset transactions
(70.173) 171.985
Beda tetap Permanent differences
Beban yang tidak dapat dikurangkan 10.899 9.114 Non-deductible expenses
Penghasilan bunga dikenakan
pajak final (17.134) (15.163) Interest income subjected to final tax
(6.235) (6.049)
Penghasilan kena pajak 1.414.818 1.129.930 Taxable income
Beban pajak 311.260 248.585 Tax expense
Dikurangi: Less:
Pasal 23 (10.091) (3.483) Article 23
Pasal 25 (214.846) (140.643) Article 25
Utang pajak Corporate income
penghasilan badan 86.323 104.459 tax payable
Pada tanggal 29 Oktober 2021, Pemerintah On 29 October 2021, the Government
menetapkan Undang-Undang No. 7 Tahun stipulated Law No. 7 Year 2021 on the
2021 tentang Harmonisasi Peraturan Harmonization of Tax Regulations (“HPP Bill”).
Perpajakan (“UU HPP”). Salah satu pasal One of the article in this HPP Bill is that the
dalam UU HPP ini adalah tarif pajak corporate income tax rate applicable in 2022
penghasilan badan yang berlaku di tahun 2022 and so forth is 22%.
dan seterusnya adalah 22%.
Perhitungan pajak penghasilan badan untuk The above calculation of corporate income tax
tahun yang berakhir pada 31 Desember 2023 for the year ended 31 December 2023 will be
tersebut di atas akan menjadi dasar dalam used as basis for filing the Annual Tax Return
pengisian Surat Pemberitahuan Tahunan (“SPT”) of Corporate Income Tax.
(“SPT”) Pajak Penghasilan Badan.
Perhitungan pajak penghasilan badan untuk The calculation of corporate income tax for the
tahun yang berakhir pada 31 Desember 2022 year ended 31 December 2022 is same as the
sama dengan Surat Pemberitahuan Tahunan Annual Tax Return filed by the Company to the
yang disampaikan Perseroan ke Kantor Tax Office.
Pelayanan Pajak.
62
Page 366
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERPAJAKAN (lanjutan) 9. TAXATION (continued)
c. Aset (liabilitas) pajak tangguhan – neto c. Deferred tax assets (liabilities) – net
31 Desember/December 2023
Manfaat
(beban) pajak
tangguhan/
Saldo awal/ Deferred tax Saldo akhir/
Beginning income Ending
balance (expenses) balance
Aset (liabilitas) pajak
tangguhan dampak dari Deferred tax asset (liabilities)
laporan laba rugi effect from profit or loss
Penyisihan kerugian penurunan Provision for impairment losses on
nilai atas piutang lain-lain 30.894 (21.184) 9.710 other receivables
Penyisihan kerugian penurunan
nilai atas piutang Provision for impairment losses on
sewa pembiayaan finance lease
dan anjak piutang 1.605 (1.605) - and factoring receivables
Selisih antara nilai buku Difference in net book value
aset tetap komersial of fixed assets between
dan fiskal (1.548) 156 (1.392) commercial and fiscal
Penyisihan imbalan Provision for employee
kerja karyawan 34.371 15.203 49.574 benefits
Penyisihan bonus 38.317 (7.597) 30.720 Provision for bonus
Penyisihan penghapusan Provision for write-off
customer deposit 1.605 109 1.714 on customer deposit
Penyisihan biaya jasa profesional 586 (586) - Provision for professional fee
Transaksi aset hak guna 361 66 427 Right-of-use asset transactions
Aset pajak tangguhan Deferred tax assets effect
dampak dari penghasilan from other comprehensive
komprehensif lain income
Pengukuran kembali atas
liabilitas imbalan Remeasurement of employee
kerja karyawan 8.516 2.310 10.826 benefits obligation
Kerugian bersih
atas instrumen derivatif untuk Net loss on derivative
lindung nilai arus kas 1.745 (2.535) (790) instrument for cash flow hedging
116.452 (15.663) 100.789
31 Desember/December 2022
Manfaat
(beban) pajak
tangguhan/
Saldo awal/ Deferred tax Saldo akhir/
Beginning income Ending
balance (expenses) balance
Aset (liabilitas) pajak
tangguhan dampak dari Deferred tax asset (liabilities)
laporan laba rugi effect from profit or loss
Penyisihan kerugian penurunan Provision for impairment losses on
nilai atas piutang lain-lain 26.741 4.153 30.894 other receivables
Penyisihan kerugian penurunan
nilai atas piutang Provision for impairment losses on
sewa pembiayaan finance lease
dan anjak piutang 5.638 (4.033) 1.605 and factoring receivables
Selisih antara nilai buku Difference in net book value
aset tetap komersial of fixed assets between
dan fiskal (1.939) 391 (1.548) commercial and fiscal
Penyisihan imbalan Provision for employee
kerja karyawan 23.460 10.911 34.371 benefits
Penyisihan bonus 12.393 25.924 38.317 Provision for bonus
Penyisihan penghapusan Provision for write-off
customer deposit 1.405 200 1.605 on customer deposit
Penyisihan biaya jasa profesional 586 - 586 Provision for professional fee
Transaksi aset hak guna 70 291 361 Right-of-use asset transactions
63
Page 367
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERPAJAKAN (lanjutan) 9. TAXATION (continued)
31 Desember/December 2022
Manfaat
(beban) pajak
tangguhan/
Saldo awal/ Deferred tax Saldo akhir/
Beginning income Ending
balance (expenses) balance
Aset pajak tangguhan Deferred tax assets effect
dampak dari penghasilan from other comprehensive
komprehensif lain income
Pengukuran kembali atas
liabilitas imbalan Remeasurement of employee
kerja karyawan 9.191 (675) 8.516 benefits obligation
Kerugian bersih
atas instrumen derivatif untuk Net loss on derivative
lindung nilai arus kas 205 1.540 1.745 instrument for cash flow hedging
77.750 38.702 116.452
d. Surat ketetapan pajak d. Tax assessment letter
Tahun pajak 2015 dan 2014 Fiscal year 2015 and 2014
Pada tanggal 12 September 2018, Perseroan On 12 September 2018, the Company received
menerima Surat Ketetapan Pajak Kurang Bayar Tax Assessment Letter on Underpayment
(”SKPKB”) dari Direktorat Jendral Pajak (”DJP”) (“SKPKB”) from Directorate General of Taxes
atas Pajak Penghasilan Badan untuk tahun pajak (“DGT”) on Corporate Income Tax for fiscal
2015 dan 2014 masing-masing sebesar years 2015 and 2014 amounting to Rp60,999
Rp60.999 dan Rp31.453. Untuk jumlah kurang and Rp31,453, respectively. For the amount of
bayar dari SKPKB tersebut, Perseroan the underpayment of the SKPKB, the Company
mengajukan keberatan ke Kantor Pajak sebesar filed an objection to the Tax Office amounting
Rp90.879. Perseroan telah menyetujui to Rp90,879. The Company has approved the
keputusan dan telah membayar sejumlah Rp724 decision and has paid the amount of Rp724
dan Rp849 masing-masing atas SKPKB atas and Rp849, respectively for the SKPKB on
Pajak Penghasilan Badan untuk tahun pajak Corporate Income Tax for fiscal year 2015 and
2015 dan 2014 berdasarkan Pembahasan Akhir 2014 based on the Audit Result Final
Hasil Pemeriksaan pada tanggal 1 Oktober 2018. Discussion on 1 October 2018.
Pada tahun 2019, Kantor Pajak menolak semua In 2019, the Tax Office has rejected all
keberatan untuk tahun fiskal 2014 dan 2015. objections for fiscal year 2014 and 2015. In the
Pada tahun yang sama, Perseroan mengajukan same year, the Company appealed the
banding atas keputusan tersebut ke Pengadilan decision to the Tax Court.
Pajak.
Pada tanggal 14 Desember 2021, Pengadilan On 14 December 2021, the Tax Court read out
Pajak membacakan putusan terkait dengan the decision related to the appeal filed by the
banding yang diajukan Perseroan. Atas putusan Company. Based on the decision, the
tersebut, Perseroan menerima surat putusan dari Company received a decision letter from the
Pengadilan Pajak pada tanggal 27 Desember Tax Court on 27 December 2021. Based on the
2021. Berdasarkan hasil putusan tersebut, PPh results of the decision, the Corporate Income
Badan untuk tahun pajak 2015 dan 2014 telah Tax for fiscal year 2015 and 2014 was partially
dikabulkan sebagian, sebesar Rp90.862 dan granted in the amount of Rp90,862 and was not
tidak dikabulkan sebesar Rp17. Atas putusan granted in the amount of Rp17. For the
tersebut, utang yang masih harus dibayar decisions that have been received, the total
sebesar Rp17. Manajemen sepakat untuk accrued payable amounted Rp17.
menerima hasil putusan yang sudah ditetapkan Management agrees to accept the result of the
oleh Pengadilan Pajak. decisions that have been determined by the
Tax Court.
64
Page 368
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERPAJAKAN (lanjutan) 9. TAXATION (continued)
d. Surat ketetapan pajak (lanjutan) d. Tax assessment letter (continued)
Tahun pajak 2015 dan 2014 (lanjutan) Fiscal year 2015 and 2014 (continued)
Pada tanggal 4 April 2022, Kantor Pajak On 4 April 2022, Tax Office appealed the
mengajukan banding atas keputusan Pengadilan decision of Tax Court to Supreme Court. On
Pajak ke Mahkamah Agung. Pada tanggal 25 May 2023, the decision from Supreme Court
25 Mei 2023, hasil keputusan Mahkamah Agung rejected the appealed from Tax Office.
menolak pengajuan banding dari Kantor Pajak.
Tahun pajak 2020 Fiscal year 2020
Pada tanggal 11 April 2022, Perseroan On 11 April 2022, the Company received the
menerima Berita Acara Pembahasan Akhir Hasil Minutes of Final Discussion of Audit Results for
Pemeriksaan untuk pajak badan tahun 2020. the 2020 corporate tax. The Minutes stated that
Berita Acara tersebut menyatakan Perseroan the Company had overpaid taxes related to
memiliki lebih bayar pajak terkait Pajak Badan Corporate Tax for 2020 of Rp27,841,
untuk tahun 2020 sebesar Rp27.841, kurang underpaid Income Tax Article 21, Article 21
bayar Pajak Penghasilan Pasal 21, Pasal 21 Final , Article 23, Article 4 (2), Value Added Tax
Final, Pasal 23, Pasal 4 (2), Pajak Pertambahan (VAT), Letter of Invoice for VAT Tax and VAT
Nilai (PPN), Surat Tagihan Pajak PPN dan PPN for Utilization of JKP from Outside Customs
Pemanfaatan JKP dari Luar Pabean dengan with a total amount of Rp7,144. On 18 May
jumlah total Rp7.144. Pada tanggal 18 Mei 2022, 2022, the Company received a tax refund from
Perseroan menerima pengembalian pajak dari the Tax Office on Audit Results for the 2020
Kantor Pajak atas Hasil Pemeriksaan untuk corporate tax of Rp20,697. Management
pajak badan tahun 2020 sebesar Rp20.697. agrees to accept the result of the decisions that
Manajemen sepakat untuk menerima hasil have been determined by the Tax Office.
putusan yang sudah ditetapkan oleh Kantor
Pajak.
e. Administrasi e. Administration
Berdasarkan Undang-Undang Perpajakan yang Under the Taxation Laws of Indonesia, the
berlaku di Indonesia, Perseroan menghitung, Company submits tax returns on the basis of
menetapkan dan membayar sendiri besarnya self-assessment. The Director General of
jumlah pajak yang terutang. Direktur Jenderal Taxes may assess or amend taxes within a
Pajak dapat menetapkan atau mengubah certain period. For the fiscal years of 2008 and
liabilitas pajak dalam jangka waktu tertentu. onwards, the period is within five years from the
Untuk tahun pajak 2008 dan seterusnya, jangka time the tax becomes due.
waktunya adalah lima tahun sejak saat
terutangnya pajak.
65
Page 369
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
10. ASET TETAP 10. FIXED ASSETS
31 Desember/December 2023
1 Januari / Penambahan/ (Pengurangan)/ Reklasifikasi/ 31 Desember/
January 2023 Additions (Deductions) Reclassifications December 2023
Aset tetap Fixed assets
Kepemilikan langsung Direct ownership
Harga perolehan Cost
Tanah 48.570 - - - 48.570 Land
Bangunan 50.536 2.460 - - 52.996 Buildings
Kendaraan 28 - - - 28 Vehicles
Perabotan dan peralatan kantor 269.378 70.147 (5.080) - 334.445 Furniture and office equipment
Renovasi bangunan sewa 55.820 14.285 - - 70.105 Leasehold improvement
424.332 86.892 (5.080) - 506.144
Aset hak guna 142.461 45.080 - - 187.541 Right-of-use assets
566.793 131.972 (5.080) - 693.685
Akumulasi penyusutan Accumulated depreciation
Bangunan (18.231) (2.515) - - (20.746) Buildings
Kendaraan (27) - - (27) Vehicles
Perabot dan peralatan kantor (203.440) (33.145) 5.075 - (231.510) Furniture and office equipment
Renovasi bangunan sewa (44.898) (5.723) - - (50.621) Leasehold improvement
(266.596) (41.383) 5.075 - (302.904)
Aset hak guna (80.434) (26.722) - - (107.156) Right-of-use assets
(347.030) (68.105) 5.075 - (410.060)
Nilai buku neto 219.763 283.625 Net book value
31 Desember/December 2022
1 Januari/ Penambahan/ (Pengurangan)/ Reklasifikasi/ 31 Desember/
January 2022 Additions (Deductions) Reclassifications December 2022
Aset tetap Fixed assets
Kepemilikan langsung Direct ownership
Harga perolehan Cost
Tanah 48.570 - - - 48.570 Land
Bangunan 49.388 1.148 - 50.536 Buildings
Kendaraan 28 - - - 28 Vehicles
Perabotan dan peralatan kantor 244.325 40.521 (15.468) - 269.378 Furniture and office equipment
Renovasi bangunan sewa 47.593 8.227 - - 55.820 Leasehold improvement
389.904 49.896 (15.468) - 424.332
Aset hak guna 113.344 29.117 - - 142.461 Right-of-use assets
503.248 79.013 (15.468) - 566.793
Akumulasi penyusutan Accumulated depreciation
Bangunan (15.790) (2.441) - - (18.231) Buildings
Kendaraan (27) - - - (27) Vehicles
Perabot dan peralatan kantor (189.575) (29.128) 15.263 - (203.440) Furniture and office equipment
Renovasi bangunan sewa (41.885) (3.013) - - (44.898) Leasehold improvement
(247.277) (34.582) 15.263 - (266.596)
Aset hak guna (58.890) (21.544) - - (80.434) Right-of-use assets
(306.167) (56.126) 15.263 - (347.030)
Nilai buku neto 197.081 219.763 Net book value
Seluruh aset tetap kepemilikan langsung kecuali Directly owned fixed assets, except for land, are
tanah, telah diasuransikan dengan PT Zurich insured with PT Zurich Asuransi Indonesia Tbk and
Asuransi Indonesia Tbk dan PT AXA Insurance PT AXA Insurance Indonesia (formerly PT Mandiri
Indonesia (dahulu PT Mandiri AXA General AXA General Insurance), for a sum insured of
Insurance) dengan jumlah pertanggungan asuransi Rp427,198 and Rp372,503 as of
sebesar Rp427.198 dan Rp372.503 pada tanggal 31 December 2023 and 2022, respectively, which
31 Desember 2023 dan 2022 yang menurut according to the management, is sufficient to cover
manajemen cukup untuk menutupi kemungkinan possible losses due to fire, flood, public
kerugian karena kebakaran, kebanjiran, huru-hara disorder/riots and earthquake.
dan gempa bumi.
66
Page 370
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
10. ASET TETAP (lanjutan) 10. FIXED ASSETS (continued)
Tanah Perseroan berupa sertifikat Hak Guna Land is held in the form of certificates of Hak Guna
Bangunan (“HGB”) yang mempunyai masa manfaat Bangunan (“HGB”) which have useful lives of 20 to
selama 20 sampai dengan 30 tahun yang akan jatuh 30 years and will be due between 2 February 2023
tempo antara 2 Februari 2023 sampai dengan to 31 March 2046. Management believes that the
31 Maret 2046. Manajemen berpendapat bahwa HGB HGB can be renewed or extended upon expiration.
tersebut dapat diperbaharui atau diperpanjang pada Until the date of financial statements, the certificates
saat jatuh tempo. Sampai tanggal laporan keuangan, of Hak Guna Bangunan is still in progress.
Sertifikat Hak Guna Bangunan masih dalam masa
perpanjangan.
Rincian keuntungan atas pelepasan aset tetap Details of gain on disposal of fixed assets are as
adalah sebagai berikut: follows:
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Hasil pelepasan aset tetap 129 355 Proceed from disposal of fixed assets
Nilai buku aset tetap (5) (205) Book value
Laba atas pelepasan aset tetap 124 150 Gain on disposal of fixed assets
Kerugian atau keuntungan atas pelepasan aset tetap Loss or gain on disposal of fixed assets is
diakui sebagai bagian dari “pendapatan lain-lain” recognized as part of “other income” in the
pada laporan laba rugi dan penghasilan statement of profit or loss and other comprehensive
komprehensif lain. income.
Manajemen berpendapat tidak terdapat indikasi Management believes that there is no impairment
penurunan nilai atas aset tetap yang dimiliki on the Companyʼs fixed assets as of
Perseroan masing-masing pada tanggal 31 December 2023 and 2022, respectively.
31 Desember 2023 dan 2022.
Pada 31 Desember 2023 dan 2022, jumlah bruto dari As of 31 December 2023 and 2022, the gross
aset tetap yang telah disusutkan penuh dan masih amount of fixed assets which have been fully
digunakan adalah masing-masing sebesar depreciated and still being used amounted to
Rp264.392 dan Rp176.686. Rp264,392 and Rp176,686, respectively.
Tidak ada aset tetap yang dijadikan jaminan pada There were no fixed assets pledged as collateral as
tanggal 31 Desember 2023 dan 2022. of 31 December 2023 and 31 December 2022.
Aset hak guna per 31 Desember 2023 dan 2022 Right-of-use of assets as of 31 December 2023 and
adalah sebagai berikut: 2022 are as follows:
31 Desember/December 2023
1 Januari/ Penambahan/ (Pengurangan)/ 31 Desember/
January 2023 Additions (Deductions) December 2023
r
Biaya perolehan Cost
Bangunan 131.935 36.099 - 168.034 Buildings
Kendaraan 10.526 8.981 - 19.507 Vehicles
142.461 45.080 - 187.541
Akumulasi penyusutan Accumulated depreciation
Bangunan (73.435) (22.033) - (95.468) Buildings
Kendaraan (6.999) (4.689) - (11.688) Vehicles
(80.434) (26.722) - (107.156)
Nilai buku neto 62.027 80.385 Net book value
67
Page 371
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
10. ASET TETAP (lanjutan) 10. FIXED ASSETS (continued)
Aset hak guna per 31 Desember 2023 dan 2022 Right-of-use of assets as of 31 December 2023 and
adalah sebagai berikut: (lanjutan) 2022 are as follows: (continued)
31 Desember/December 2022
1 Januari/ Penambahan/ (Pengurangan)/ 31 Desember/
January 2022 Additions (Deductions) December 2022
Biaya perolehan Cost
Bangunan 105.867 26.068 - 131.935 Buildings
Kendaraan 7.477 3.049 - 10.526 Vehicles
113.344 29.117 - 142.461
Akumulasi penyusutan Accumulated depreciation
Bangunan (53.662) (19.773) - (73.435) Buildings
Kendaraan (5.228) (1.771) - (6.999) Vehicles
(58.890) (21.544) - (80.434)
Nilai buku neto 54.454 62.027 Net book value
Perseroan menyewa beberapa aset termasuk The Company had rent a number of assets which
bangunan dan kendaraan. Jangka waktu masa sewa include buildings and vehicles. The period of lease
berkisar 1 - 5 tahun. term ranged between 1 - 5 years.
11. ASET LAIN-LAIN 11. OTHER ASSETS
31 Desember/ 31 Desember/
December 2023 December 2022
Pihak ketiga Third parties
Setoran dalam perjalanan 45.248 32.207 Deposit in transit
Uang muka 20.340 8.761 Advance payments
Setoran jaminan 2.537 2.355 Security deposits
Biaya provisi dibayar di muka 1.473 2.939 Prepaid provision cost
Biaya jasa penerbitan obligasi 445 434 Prepaid bonds issuance cost
Asuransi dibayar di muka 432 452 Prepaid insurance
Sewa dibayar di muka 83 112 Prepaid rent
Lain-lain 22.874 13.671 Other
93.432 60.931
Pihak berelasi Related parties
Sewa dibayar di muka 765 132 Prepaid rent
Piutang bunga deposito 137 119 Interest receivables - time deposits
902 251
94.334 61.182
Lain-lain merupakan pemeliharaan dan perawatan Others mainly represent repairment and
sistem teknologi informasi, piutang karyawan, dan maintenance of information technology system,
biaya dibayar dimuka. employee receivables, and prepaid expenses.
Lihat Catatan 26a untuk rincian saldo dan transaksi Refer to Note 26a for details of balances and
pihak berelasi. transactions with related parties.
68
Page 372
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
12. UTANG USAHA 12. TRADE PAYABLES
31 Desember/ 31 Desember/
December 2023 December 2022
Pihak ketiga Third parties
Utang kendaraan 861.602 568.676 Vehicle payables
Utang asuransi 155.535 133.615 Insurance payables
1.017.137 702.291
Utang usaha merupakan utang kepada pemasok atas Trade payables represent payables to suppliers for
pembiayaan kendaraan bermotor dan utang kepada motor vehicle financing and payables to insurance
perusahaan asuransi yang berkaitan dengan companies in relation to motor vehicle financing and
pembiayaan kendaraan bermotor dan alat berat. heavy equipment.
13. UTANG LAIN-LAIN 13. OTHER PAYABLES
31 Desember/ 31 Desember/
December 2023 December 2022
Pihak ketiga Third parties
Titipan konsumen 112.429 107.913 Customer deposits
PPN keluaran 25.032 44.289 VAT out
Liabilitas pajak Tax liabilities
Pasal 21 16.493 12.263 Article 21
Pasal 23 979 856 Article 23
PPh final 190 153 Final tax
Liabilitas sewa 8.219 1.532 Lease liabilities
Jasa notaris 2.156 7.183 Notary service
Barang dan jasa 830 500 Goods and services
Lain-lain 24.588 25.241 Others
190.916 199.930
Pihak berelasi Related parties
Liabilitas sewa 31.974 38.511 Lease liabilities
Pembiayaan bersama 24.591 61.985 Joint financing
Lain-lain 240 240 Others
56.805 100.736
247.721 300.666
Jumlah beban bunga atas liabilitas sewa masing- The balances of interest expense from lease
masing sebesar Rp2.928 dan Rp2.515 untuk tahun liabilities amounted to Rp2,928 and Rp2,515 for the
yang berakhir 31 Desember 2023 dan 2022. years ended 31 December 2023 and 2022,
respectively.
Analisis jatuh tempo utang lain-lain terkait sewa The maturity analysis of other payables related to
adalah sebagai berikut: lease is as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
1 tahun 1.224 667 1 year
2 tahun 1.912 1.001 2 years
3 tahun 31.496 2.645 3 years
4 tahun 4.477 30.137 4 years
5 tahun 1.084 5.593 5 years
Total 40.193 40.043 Total
69
Page 373
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. UTANG LAIN-LAIN (lanjutan) 13. OTHER PAYABLES (continued)
Pembiayaan bersama sehubungan dengan porsi Joint financing represents the portion of installment
cicilan pembayaran piutang pembiayaan yang telah payments for financing receivables that have been
diterima dari konsumen namun belum dibayarkan received from customers but have not been paid to
kepada pemberi pembiayaan bersama. joint financing providers.
Lain-lain terutama terdiri dari utang kepada pihak Others mainly consist of payables to third parties
ketiga yang berkaitan dengan utang asuransi dan related to insurance payable and vehicle license
biaya biro jasa Surat Tanda Nomor Kendaraan. service fee.
Lihat Catatan 26b untuk rincian saldo dan transaksi Refer to Note 26b for details of balances and
pihak berelasi. transactions with related parties.
14. BEBAN YANG MASIH HARUS DIBAYAR 14. ACCRUED EXPENSES
31 Desember/ 31 Desember/
December 2023 December 2022
Pihak ketiga Third parties
Gaji dan tunjangan 148.356 198.083 Salaries and allowances
Bunga yang masih harus dibayar 96.164 79.250 Accrued Interest
Telepon 1.659 1.546 Telephone
Perbaikan dan pemeliharaan 1.037 2.425 Repairs and maintenance
Jasa profesional 934 3.376 Professional fee
Listrik dan air 454 448 Utilities
Promosi 374 3.094 Promotion
Lain-lain 8.648 19.865 Others
257.626 308.087
Pihak berelasi Related parties
Bunga yang masih harus dibayar 4.472 3.535 Accrued interest
262.098 311.622
Lain-lain terutama terdiri dari beban yang masih Others mainly consist of entertainment, stamps, PC
harus dibayar terkait jamuan, materai, sewa PC, alat rent, stationary, printing, travelling and training.
tulis kantor, cetakan, perjalanan dinas dan pelatihan.
Lihat Catatan 26b untuk rincian saldo dan transaksi Refer to Note 26b for details of balances and
pihak berelasi. transactions with related parties.
15. PINJAMAN YANG DITERIMA 15. BORROWINGS
31 Desember/ 31 Desember/
December 2023 December 2022
Revolving Revolving
Pinjaman bank 1.792.150 410.000 Bank loans
Non-revolving Non-revolving
Pinjaman bank 15.817.769 14.283.451 Bank loans
Pinjaman lembaga keuangan Financial institution
Non-bank 523.733 - non-bank loans
18.133.652 14.693.451
Biaya provisi yang belum diamortisasi (36.937) (31.564) Unamortized provision cost
18.096.715 14.661.887
70
Page 374
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Jumlah fasilitas/ Jumlah pinjaman/ Jatuh tempo fasilitas/
Facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/
December 2023 December 2022 December 2023 December 2022 December 2023 December 2022
Pinjaman bank/Bank loans
Revolving
Rupiah
Pihak ketiga/Third parties
November/ November/
PT Bank OCBC NISP Tbk 200.000 200.000 - - November 2024 November 2023
Agustus/ Agustus/
PT Bank Danamon Indonesia Tbk 150.000 150.000 - - August 2024 August 2023
Juli/ Juli/
PT Bank HSBC Indonesia 250.000 250.000 - - July 2024 July 2023
MUFG Bank, Ltd., Cabang Jakarta/ Februari/ Februari/
MUFG Bank, Ltd., Jakarta Branch 770.800 786.550 - - February 2024 February 2023
Mei/ November/
PT Bank UOB Indonesia 124.999 25.000 - - May 2024 November 2023
Juni/ Juni/
PT Bank ANZ Indonesia 231.240 235.965 - - June 2024 June 2023
Juni/
308.320 - - - June 2024 -
Februari/ Desember/
PT Bank CTBC Indonesia 200.000 200.000 - - February 2024 December 2023
Maret/ Maret/
PT Bank Central Asia Tbk 553.000 553.000 - - March 2024 March 2024
Januari/ April/
PT Bank BTPN Tbk 300.000 300.000 200.000 - January 2024 April 2023
Februari/ November/
PT Bank Permata Tbk 100.000 100.000 - - February 2024 November 2022*)
Oktober/
PT Bank Rakyat Indonesia (Persero) Tbk 100.000 - - - October 2024 -
3.288.359 2.800.515 200.000 -
Pihak berelasi/Related parties
Desember/ Desember/
PT Bank Mandiri (Persero) Tbk 400.000 400.000 320.000 400.000 December 2027 December 2027
Januari/ Desember/
375.000 375.000 306.250 - January 2028 December 2023
Desember/
- 50.000 - - - December 2023
Desember/ Desember/
200.000 200.000 200.000 10.000 December 2028 December 2023
September/
97.000 - 92.150 - September 2028 -
November/
500.000 - 458.333 - November 2024 -
September/
550.000 - - - September 2024 -
Juli/
7.000 - 6.417 - July 2028 -
Desember/
9.000 - 9.000 - December 2028 -
September/
34.000 - - - September 2024 -
September/
200.000 - 200.000 - September 2024 -
2.372.000 1.025.000 1.592.150 410.000
Jumlah/Total revolving 5.660.359 3.825.515 1.792.150 410.000
*) Diperpanjang secara otomatis sampai Bank membatalkan, menghentikan atau *) Automatically extended until the Bank cancel, cease or discharge in writing the
membebaskan Perseroan dari kewajibannya secara tertulis. Company from its obligations.
71
Page 375
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Jumlah fasilitas/ Jumlah pinjaman/ Jatuh tempo fasilitas/
Facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/
December 2023 December 2022 December 2023 December 2022 December 2023 December 2022
Pinjaman bank (lanjutan)/
Bank loans (continued)
Non-revolving
Rupiah
Pihak ketiga/Third parties
PT Bank Central Asia Tbk Desember/
- 500.000 - 166.667 - December 2023
Januari/ Januari/
555.000 555.000 15.417 200.417 January 2024 January 2024
Maret/ Maret/
700.000 700.000 58.333 291.667 March 2024 March 2024
Februari/ Februari/
500.000 500.000 194.444 361.111 February 2025 February 2025
September/ September
1.000.000 1.000.000 250.000 583.333 September 2024 September 2024
Juni/ Juni/
600.000 600.000 300.000 500.000 June 2025 June 2025
Oktober/ Oktober/
400.000 400.000 244.444 377.778 October 2025 October 2025
Juli/ Juli/
1.500.000 1.500.000 791.667 1.291.667 July 2025 July 2025
November/ November/
1.000.000 1.000.000 638.889 972.222 November 2025 November 2025
Januari/ November/
500.000 500.000 385.417 - January 2027 November 2023
Maret/ November
500.000 500.000 375.000 - March 2026 November 2023
Juni/
1.600.000 - 1.333.333 - June 2026 -
September/
500.000 - 458.333 - September 2026 -
Desember/
1.000.000 - 1.000.000 - December 2026 -
Desember/
400.000 - 400.000 - December 2026 -
Desember/
500.000 - 500.000 - December 2026 -
Kredit Sindikasi Lokal/ Juli/
Local Syndication Loan - 1.000.000 - 194.444 - July 2023
Oktober/
- 1.500.000 - 416.667 - October 2023
Maret/ Maret/
PT Bank UOB Indonesia 300.000 300.000 125.000 225.000 March 2025 March 2025
September/ September/
300.000 300.000 175.000 275.000 September 2025 September 2025
April/
PT Bank Danamon Indonesia Tbk - 500.000 - 55.556 - April 2023
Juni/
- 300.000 - 50.000 - June 2023
Desember/
- 500.000 - 166.667 - December 2023
Desember/ Desember/
500.000 500.000 166.667 333.333 December 2024 December 2024
Januari/ Januari/
500.000 500.000 180.556 347.222 January 2025 January 2025
Oktober/ Oktober/
1.000.000 1.000.000 611.111 944.444 October 2025 October 2025
November/
1.500.000 - - - November 2024 -
Januari/
PT Bank Pan Indonesia Tbk - 500.000 - 13.889 - January 2023
Juni/ Juni/
1.000.000 1.000.000 166.667 500.000 June 2024 June 2024
Mei/ Mei/
1.000.000 1.000.000 472.222 805.556 May 2025 May 2025
November/ November/
1.000.000 1.000.000 638.889 972.222 November 2025 November 2025
Maret/ Mei/
500.000 1.000.000 375.000 - March 2026 May 2023
April/
500.000 - 388.889 - April 2026 -
Oktober/
1.000.000 - 944.444 - October 2026 -
Desember/ Desember/
PT Bank KEB Hana Indonesia 300.000 300.000 106.295 206.165 December 2024 December 2024
Desember/ Desember/
PT Bank DKI 300.000 300.000 106.295 206.165 December 2024 December 2024
Maret/ Maret/
200.000 200.000 87.716 153.315 March 2025 March 2025
72
Page 376
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Jumlah fasilitas/ Jumlah pinjaman/ Jatuh tempo fasilitas/
Facility amount Loan amount Maturity date of the facility
31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/
December 2023 December 2022 December 2023 December 2022 December 2023 December 2022
Pinjaman bank (lanjutan)/
Bank loans (continued)
Non-revolving (lanjutan/continued)
Rupiah (lanjutan/continued)
Pihak ketiga (lanjutan)/Third parties (continued)
Februari/
PT Bank CIMB Niaga Tbk - 300.000 - 16.667 - February 2023
Maret/ Maret/
500.000 500.000 208.333 375.000 March 2025 March 2025
Maret/ Desember/
400.000 400.000 300.000 - March 2026 December 2023
Maret/
PT Bank QNB Indonesia Tbk - 500.000 - 41.667 - March 2023
Desember/ Desember/
300.000 300.000 100.000 200.000 December 2024 December 2024
Agustus/
300.000 - 266.667 - August 2026 -
Juni/ Juni/
PT Bank Permata Tbk 400.000 400.000 200.000 333.333 June 2025 June 2025
Januari/
800.000 - - - January 2024 -
Juni/ Juni/
PT Bank Oke Indonesia Tbk 500.000 500.000 261.494 422.923 June 2025 June 2025
Juli/ Juli/
PT Bank China Construction Bank Indonesia Tbk 430.000 430.000 236.782 374.904 July 2025 July 2025
November/
300.000 - 292.430 - November 2026 -
PT Bank Pembangunan Daerah Agustus/
Jawa Barat dan Banten Tbk 500.000 - 444.444 - August 2026 -
Agustus/
PT Bank of India Indonesia Tbk 500.000 - 444.444 - Agustus 2026 -
September/
PT Bank Maybank Indonesia Tbk 750.000 - - - September 2024 -
September/
PT Bank Maspion Indonesia Tbk 300.000 - - - September 2024 -
27.135.000 22.785.000 14.244.622 12.375.001
Mata uang asing/Foreign currency
Pihak ketiga/Third parties
Februari/ April/
PT Bank Mizuho Indonesia 756.250 786.550 578.100 - February 2026 April 2023
MUFG Bank, Ltd., Cabang Jakarta/ April/ April/
MUFG Bank, Ltd., Jakarta Branch 409.459 409.460 219.678 373.611 April 2025 April 2025
1.165.709 1.196.010 797.778 373.611
Rupiah
Pihak berelasi/Related parties
PT Bank Mandiri (Persero) Tbk November/
- 875.000 - 287.048 - November 2023
April/ April/
200.000 200.000 24.346 94.074 April 2024 April 2024
Mei/ Mei/
400.000 400.000 154.592 254.870 May 2025 May 2025
Desember/ Desember/
450.000 450.000 225.000 337.500 December 2025 December 2025
Oktober/ Oktober/
93.000 93.000 65.875 89.125 October 2026 October 2026
Oktober/ Oktober/
PT Bank Tabungan Negara (Persero) Tbk 500.000 500.000 305.556 472.222 October 2025 October 2025
1.643.000 2.518.000 775.369 1.534.839
Pinjaman Lembaga keuangan non-bank/
Financial institution non-bank loans
PT Sarana Multigriya Juli/
Finansial (Persero) 600.000 - 523.733 - July 2026 -
600.000 - 523.733 -
Jumlah/Total non-revolving 30.543.709 26.499.010 16.341.502 14.283.451
Jumlah/Total 36.204.068 30.324.525 18.133.652 14.693.451
73
Page 377
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Kredit sindikasi lokal Local syndication credit
Pada tanggal 18 Desember 2019, Perseroan On 18 December 2019, the Company obtained a
memperoleh fasilitas pinjaman dari Anggota loan facility from a Syndicated Member with a
Sindikasi, dengan batas kredit maksimum maximum credit limit of Rp2,500,000,000,000 (full
Rp2.500.000.000.000 (nilai penuh). Penarikan amount). The first drawdown was on 21 July 2020
pertama dilakukan pada tanggal 21 Juli 2020 dengan with total of Rp1,000,000,000,000 (full amount).
jumlah Rp1.000.000.000.000 (nilai penuh). The second drawdown was on 14 October 2020
Penarikan kedua tanggal 14 Oktober 2020 dengan with total of Rp1,500,000,000,000 (full amount).
jumlah Rp1.500.000.000.000 (nilai penuh). Rincian Details are as follows:
nilai pinjamannya sebagai berikut:
31 Desember/ 31 Desember/
December 2023 December 2022
PT Bank Central Asia Tbk - 155.222 PT Bank Central Asia Tbk
PT Bank BTPN Tbk - 103.400 PT Bank BTPN Tbk
PT Bank Mizuho Indonesia - 103.400 PT Bank Mizuho Indonesia
PT Bank Pan Indonesia Tbk - 103.400 PT Bank Pan Indonesia Tbk
PT Bank Pembangunan Daerah - PT Bank Pembangunan Daerah
Jawa Barat dan Banten Tbk 41.555 Jawa Barat dan Banten Tbk
PT Bank Pembangunan Daerah Papua - 31.289 PT Bank Pembangunan Daerah Papua
PT Bank Shinhan Indonesia - 31.289 PT Bank Shinhan Indonesia
PT Bank SBI Indonesia - 20.778 PT Bank SBI Indonesia
PT Bank Nationalnobu Tbk - 20.778 PT Bank Nationalnobu Tbk
- 611.111
Perjanjian sindikasi mensyaratkan kondisi keuangan The syndication agreement has required financial
tertentu, yaitu: covenants, namely:
a. Perseroan akan memastikan rasio likuiditas tidak a. The Company shall ensure that the liquidity
kurang dari 1 kali untuk setiap tahun buku dan ratio is at a minimum of 1 time for each of its
semester tahun bukunya. financial years and its financial half-years.
b. Perseroan akan memastikan rasio utang terhadap b. The Company shall ensure that the gearing
ekuitas tidak melebihi 10 kali untuk setiap tahun ratio does not exceed 10 times for each of its
buku dan semester tahun bukunya. financial years and its financial half-years.
c. Perseroan akan memastikan bahwa pinjaman- c. The Company shall ensure that its Non-
pinjaman macetnya tidak melebihi 3 persen dari Performing Loans does not exceed 3 percent
keseluruhan piutang bersihnya untuk setiap tahun of its net receivables for each of its financial
buku dan semester tahun bukunya. years and its financial half-years.
Pada tanggal 31 Desember 2023 dan 2022, As of 31 December 2023 and 2022, the Company
Perseroan telah memenuhi persyaratan dan kondisi has complied with the terms and conditions set forth
yang tertuang di dalam perjanjian pinjaman bank. in the bank loan agreement.
Cicilan pinjaman bank, lembaga keuangan non bank, Bank loans, non-bank financial institution, and
dan pinjaman sindikasi sesuai dengan tanggal jatuh syndicated loansʼ installment based on maturity
temponya sebagai berikut: date follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Tahun Year
2023 - 7.261.863 2023
2024 9.415.867 4.872.108 2024
2025 6.011.977 2.380.105 2025
2026 dan sesudahnya 2.705.808 179.375 2026 and there after
18.133.652 14.693.451
74
Page 378
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Pada tanggal 31 Desember 2023 dan 2022, Perseroan As of 31 December 2023 and 2022, the Company
memiliki fasilitas pinjaman yang belum ditarik dengan has undrawn loan facilities with details as follows:
rincian sebagai berikut:
31 Desember/December 2023
Jumlah fasilitas
yang belum
ditarik/
Nama bank/ Jenis pinjaman/ Nomor perjanjian/ Tanggal perjanjian/ Jumlah fasilitas/ Undrawn facility Jatuh tempo fasilitas/
Bank name Loan type Agreement number Agreement date Facility amount amount Maturity date facility
Revolving:
PT Bank Mandiri (Persero) Tbk Pinjaman Kredit Modal Kerja 154 27 September/ 550.000 550.000 27 September/
Revolving/ September 2023 September 2024
Working Capital Facility
Revolving
Pinjaman Kredit Modal Kerja 154 27 September/ 700.000 41.667 21 Desember/
Revolving/ September 2023 December 2028
Working Capital Facility
Revolving
Pinjaman Kredit Modal Kerja 154 27 September/ 50.000 34.583 27 September/
Auto Loan Pegawai/ September 2023 September 2024
Working Capital Facility
Auto Loan Employee
Pinjaman Kredit Modal 154 27 September/ 775.000 56.600 14 September/
Kerja Revolving/ September 2023 September 2028
Working Capital Facility
Revolving
PT Bank ANZ Indonesia Fasilitas Modal Kerja/ 110/FA/ANZ/NEW/ 11 Oktober/ 231.240 231.240 28 Juni/
Working Capital Facility X/2018 October 2018 June 2024
Fasilitas Kredit Berulang 1138/FA/ANZ/NEW/IX/2023 22 September/ 308.320 308.320 22 Juni/
Tanpa Komitmen September 2023 June 2024
Loan Facility Revolving
Without Commitment
PT Bank Danamon Indonesia Tbk Fasilitas Modal Kerja/ 100 26 September/ 150.000 150.000 30 Agustus/
Working Capital Facility September 2019 August 2024
MUFG Bank, Ltd., Cabang Jakarta/ KMK Revolving/ 15-0581LN 11 Februari/ 770.800 770.800 28 Februari/
MUFG Bank, Ltd., Jakarta Branch Working Capital Facility February 2016 February 2024
Revolving
PT Bank OCBC NISP Tbk Fasilitas Demand Loan/ 102/CBL/PPP/III/2019 29 Maret/ 200.000 200.000 10 November/
Demand Loan Facility March 2019 November 2024
PT Bank BTPN Tbk Loan On Note (STL)/ BTPN/NS/0095 24 Mei/ 300.000 100.000 10 Januari/
Loan on Note May 2021 January 2024
PT Bank Central Asia Tbk Pinjaman Berjangka 17 6 April/ 553.000 553.000 11 Maret/
Money Market/ April 2022 March 2024
Term Loan
Money Market
PT Bank Permata Tbk Money Market Loan/ 46 27 April/ 100.000 100.000 15 Februari/
Money Market Loan April 2022 February 2024
PT Bank HSBC Indonesia Pinjaman Berulang I/ JAK/210416/U/00547045 17 Juni/ 250.000 250.000 31 Juli/
Revolving Loan I June 2021 July 2024
PT Bank CTBC Indonesia Pinjaman Jangka Pendek/ 317/XI/2022 2 November/ 200.000 200.000 7 Februari/
Short Term Loan November 2022 February 2024
PT Bank UOB Indonesia Revolving Credit Facility/ 1540 21 November/ 124.999 124.999 29 Mei/
Loan Facility Revolving November 2022 May 2024
PT Bank Rakyat Indonesia Kredit Jangka Pendek/ 86 24 Oktober/ 100.000 100.000 24 Oktober/
(Persero) Tbk Short Term Loan October 2023 October 2024
Non-revolving:
PT Bank Permata Tbk Term Loan 2/ 25 12 April/ 800.000 800.000 12 Januari/
Term Loan 2 April 2023 January 2024
PT Bank Maybank Indonesia Tbk Pinjaman Berjangka/ 9 7 September/ 750.000 750.000 7 September/
Term Loan September 2023 September 2024
PT Bank Maspion Indonesia Tbk Fixed Loan Sliding/ 85 18 September/ 300.000 300.000 18 September/
Fixed Loan Sliding September 2023 September 2024
PT Bank Danamon Indonesia Tbk Term Loan 6/ 14 13 November/ 1.500.000 1.500.000 13 November/
Term Loan 6 November 2023 November 2024
75
Page 379
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Pada tanggal 31 Desember 2023 dan 2022, Perseroan As of 31 December 2023 and 2022, the Company
memiliki fasilitas pinjaman yang belum ditarik dengan has undrawn loan facilities with details as follows:
rincian sebagai berikut: (lanjutan) (continued)
31 Desember/December 2022
Jumlah fasilitas
yang belum
ditarik/
Nama bank/ Jenis pinjaman/ Nomor perjanjian/ Tanggal perjanjian/ Jumlah fasilitas/ Undrawn facility Jatuh tempo fasilitas/
Bank name Loan type Agreement number Agreement date Facility amount amount Maturity date facility
Revolving:
PT Bank Mandiri (Persero) Tbk KMK Revolving 2 20 Desember/ 200.000 190.000 19 Desember/
December 2022 December 2023
Pinjaman Kredit Modal Kerja 221 20 Desember/ 50.000 50.000 20 Desember/
Auto Loan Pegawai December 2022 December 2023
Pinjaman Kredit Modal 222 20 Desember/ 375.000 375.000 20 Desember/
Kerja Revolving December 2022 December 2023
PT Bank ANZ Indonesia Fasilitas Modal Kerja/ 110/FA/ANZ/NEW/ 11 Oktober/ 235.965 235.965 30 Juni/
Working Capital Facility X/2018 October 2018 June 2023
PT Bank Danamon Indonesia Tbk Fasilitas Modal Kerja/ 100 26 September/ 150.000 150.000 30 Agustus/
Working Capital Facility September 2019 August 2023
MUFG Bank, Ltd., Cabang Jakarta/ KMK Revolving 15-0581LN 11 Februari/ 786.550 786.550 11 Februari/
MUFG Bank, Ltd., Jakarta Branch February 2016 February 2023
PT Bank OCBC NISP Tbk Fasilitas Demand Loan 102/CBL/PPP/III/2019 29 Maret/ 200.000 200.000 10 November/
March 2019 November 2023
PT Bank BTPN Tbk Loan On Note (STL) BTPN/NS/0095 24 Mei/ 300.000 300.000 28 April/
May 2021 April 2023
PT Bank Central Asia Tbk Pinjaman Berjangka 17 6 April/ 553.000 553.000 11 Maret/
Money Market April 2022 March 2024
PT Bank Permata Tbk Money Market Loan 46 27 April/ 100.000 100.000 15 November/
April 2022 November 2022*)
Non-revolving:
PT Bank HSBC Indonesia Pinjaman Berulang I JAK/210416/U/00547045 17 Juni/ 250.000 250.000 31 Juli/
June 2021 July 2023
PT Bank CTBC Indonesia Pinjaman Jangka Pendek 317/XI/2022 2 November/ 200.000 200.000 7 Desember/
November 2022 December 2023
PT Bank UOB Indonesia Revolving Credit Facility 1540 21 November/ 25.000 25.000 21 November/
November 2022 November 2023
Non-revolving:
PT Bank Central Asia Tbk Installment Loan – 16 17 06 April/ 1.000.000 1.000.000 15 November/
April 2022 November 2023
PT Bank Mizuho Indonesia Committed Loan on 406/AMD/MZH/0422 08 April/ 786.550 786.550 08 April/
Deeds Facility April 2022 April 2023
PT Bank Pan Indonesia Tbk Pinjaman Tetap 58 15 November/ 1.000.000 1.000.000 15 Mei/
November 2022 May 2023
PT Bank CIMB Niaga Tbk Pinjaman Transaksi Khusus 177 20 Desember/ 400.000 400.000 20 Desember/
December 2022 December 2023
*) Diperpanjang secara otomatis sampai Bank membatalkan, menghentikan atau *) Automatically extended until the Bank cancel, cease or discharge in writing the
membebaskan Perseroan dari kewajibannya secara tertulis. Company from its obligations.
Pinjaman bank dalam rupiah di atas dikenakan bunga The bank loans denominated in Rupiah bear
antara 6,00% - 7,60% dan 5,75% - 9,75% pada tahun interest rates ranging between 6.00% - 7.60% and
yang berakhir pada tanggal 31 Desember 2023 dan 5.75% - 9.75% for the year ended 31 December
2022. Pinjaman bank dalam mata uang asing 2023 and 2022. The bank loans denominated in
dikenakan bunga USD-SOFR+1,08%-1,20% per foreign currency bear interest of USD-
tahun dan USD-SOFR+1,20% per tahun pada tahun SOFR+1.08%-1.20% per annum and USD-
yang berakhir pada tanggal 31 Desember 2023 dan SOFR+1.20% per annum for the year ended
2022. 31 December 2023 and 2022, respectively.
Selama tahun yang berakhir pada tanggal During the years, ended 31 December 2023 and
31 Desember 2023 dan 2022, Perseroan telah 2022, the Company has paid the loan principal and
melakukan pembayaran cicilan pokok dan bunga interest installments on schedule.
pinjaman sesuai jadwal yang ditetapkan.
Pinjaman-pinjaman ini dijamin dengan piutang These loans are secured by consumer financing
pembiayaan konsumen sejumlah Rp9.818.990 pada receivables amounting to Rp9,818,990 as of
tanggal 31 Desember 2023 (31 Desember 2022: 31 December 2023 (31 December 2022:
Rp7.696.335) dan piutang sewa pembiayaan Rp7,696,335) and finance lease receivables
sejumlah Rp874.859 pada tanggal 31 Desember amounting to Rp874,859 as of 31 December 2023
2023 (31 Desember 2022: Rp1.175.138). (31 December 2022: Rp1,175,138).
76
Page 380
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. PINJAMAN YANG DITERIMA (lanjutan) 15. BORROWINGS (continued)
Fasilitas pinjaman dari beberapa bank dan bank The loan facilities from those banks and syndicated
sindikasi tersebut mensyaratkan Perseroan untuk banks require the Company to provide a written
memberikan pemberitahuan tertulis dalam hal notice in respect of dividend payments, changes of
pembagian dividen, perubahan modal dan pemegang capital and shareholders, changes of directors and
saham, perubahan susunan direksi dan komisaris, commissioners, changes of main business,
perubahan bisnis utama, investasi dan perolehan investment and obtaining new loan facilities from
pinjaman baru dari bank lain. other banks.
Dalam perjanjian pinjaman tersebut, Perseroan juga Under the loan agreements, the Company is also
diwajibkan untuk memenuhi persyaratan keuangan obliged to comply with financial covenants such as
seperti rasio jumlah utang bunga terhadap ekuitas gearing ratio not exceeding 10:1 and other reporting
tidak melebihi rasio 10:1 dan kewajiban penyampaian obligations. As of 31 December 2023 and 2022, the
laporan lainnya. Pada tanggal 31 Desember 2023 Company has complied with the terms and
dan 2022, Perseroan telah memenuhi persyaratan conditions set forth in the bank loan agreement.
dan kondisi yang tertuang di dalam perjanjian
pinjaman bank.
Fasilitas-fasilitas pinjaman ini dipergunakan untuk The loan facilities are used for the Companyʼs
modal kerja kegiatan usaha Perseroan. working capital.
Lihat Catatan 26b untuk rincian saldo dan transaksi Refer to Note 26b for details of balances and
dengan pihak berelasi. transactions with related parties.
Lihat Catatan 29 untuk perjanjian kerjasama Refer to Note 29 for joint financing and credit
pembiayaan bersama dan penyaluran pemberian channeling cooperation agreements.
kredit.
16. INSTRUMEN KEUANGAN DERIVATIF 16. DERIVATIVE FINANCIAL INSTRUMENTS
30 Desember/December 2023
Jumlah nosional Nilai wajar/Fair values
mata uang asing
(jumlah penuh)/ Piutang Utang
Notional amount in derivatif/ derivatif/
foreign currency Derivative Derivative
Instrumen (full amount) receivables payables Instruments
Terkait nilai tukar Foreign exchange and
dan suku bunga interest rate related
Swap mata uang asing dan Cross currency swaps and
suku bunga interest rate
MUFG Bank,Ltd.,Cabang Jakarta USD 28.500.000 12.374 - MUFG Bank,Ltd.,Jakarta Branch
PT Bank Mizuho Indonesia USD 50.000.000 16.559 - PT Bank Mizuho Indonesia
28.933 -
31 Desember/December 2022
Jumlah nosional Nilai wajar/Fair values
mata uang asing
(jumlah penuh)/ Piutang Utang
Notional amount in derivatif/ derivatif/
foreign currency Derivative Derivative
Instrumen (full amount) receivables payables Instruments
Terkait nilai tukar Foreign exchange and
dan suku bunga interest rate related
Swap mata uang asing dan Cross currency swaps and
suku bunga interest rate
MUFG Bank,Ltd.,Cabang Jakarta USD 28.500.000 24.534 - MUFG Bank,Ltd.,Jakarta Branch
24.534 -
77
Page 381
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF (lanjutan) 16. DERIVATIVE FINANCIAL INSTRUMENTS
(continued)
Perseroan menghadapi risiko pasar, terutama karena The Company is exposed to market risks, primarily
perubahan kurs mata uang asing dan tingkat bunga to changes in foreign currency exchange and
mengambang, dan menggunakan instrumen derivatif floating interest rates, and uses derivative
untuk lindung nilai atas risiko tersebut sebagai bagian instruments to hedge these risks as part of its risk
dari manajemen risiko. Perseroan tidak memiliki atau management activities. The Company does not
menerbitkan instrumen derivatif untuk tujuan-tujuan hold or issue derivative instruments for trading
diperdagangkan. purposes.
Selisih nilai wajar instrumen derivatif yang ditujukan The fair value difference of derivative instruments
sebagai lindung nilai arus kas dan laba (rugi) selisih designated as cash flow hedges and foreign
kurs atas utang bank dalam mata uang asing neto exchange gain (loss) of bank loan denominated in
setelah pajak dicatat pada penghasilan komprehensif foreign currency net of taxes were reported as other
lain sebesar Rp8.990 pada comprehensive income amounting to Rp8,990 in
31 Desember 2023 dan Rp(5.462) pada 31 31 December 2023 and Rp(5,462) in 31 December
Desember 2022. Saldo kerugian kumulatif yang 2022. Cumulative losses from the changes in fair
timbul dari perubahan nilai wajar instrumen derivatif value of derivative instrument are presented as
tersebut disajikan sebagai ”Keuntungan (kerugian) “Cumulative gain (loss) on derivative instrument for
kumulatif atas instrumen derivatif untuk lindung nilai cash flow hedges - net” a in the equity amounted to
arus kas - neto” pada ekuitas masing-masing sebesar Rp2,802 and Rp(6,188) as of 31 December 2023
Rp2.802 dan Rp(6.188) pada tanggal 31 Desember and 2022, respectively.
2023 dan 2022.
MUFG Bank, Ltd., Cabang Jakarta MUFG Bank, Ltd., Jakarta Branch
Perseroan melakukan kontrak swap mata uang dan The Company entered into cross currency swap
suku bunga dengan MUFG Bank, Ltd., Cabang contracts and interest rate swap contracts with
Jakarta dengan rincian sebagai berikut: MUFG Bank, Ltd., Jakarta Branch with details as
follows:
Dasar pinjaman/ Nilai kontrak/ Tanggal perjanjian/ Tanggal jatuh tempo/ Jenis kontrak swap/
Underlying loan Contract value Agreement date Maturity date Type of swap contract
6 April/ 11 April/ Swap mata uang dan suku bunga/
Bilateral Loan/Bilateral Loan USD28.500.000 April 2022 April 2025 Cross currency interest rate swaps
Perseroan membayar angsuran pokok dan bunga The Company pays installments of principal and
setiap 3 (tiga) bulan dengan tingkat suku bunga tetap interest every 3 (three) months at annual fixed rate
sebesar 6,00% dan menerima dengan tingkat suku by 6.00% and receives a floating rate of SOFR
bunga SOFR Compound + 1,20% dalam USD untuk Compound +1.20% in USD for cross-currency and
kontrak swap mata uang dan suku bunga. interest rate swap.
PT Bank Mizuho Indonesia PT Bank Mizuho Indonesia
Perseroan melakukan kontrak swap mata uang dan The Company entered into cross currency swap
suku bunga dengan PT Bank Mizuho Indonesia contracts and interest rate swap contracts with
dengan rincian sebagai berikut: PT Bank Mizuho Indonesia as follows:
Dasar pinjaman/ Nilai kontrak/ Tanggal perjanjian/ Tanggal jatuh tempo/ Jenis kontrak swap/
Underlying loan Contract value Agreement date Maturity date Type of swap contract
Bilateral loan/ 8 April/ 13 Februari/ Swap mata uang dan suku bunga/
Bilateral loan USD50.000.000 April 2022 February 2026 Cross currency interest rate swaps
78
Page 382
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF (lanjutan) 16. DERIVATIVE FINANCIAL INSTRUMENTS
(continued)
PT Bank Mizuho Indonesia PT Bank Mizuho Indonesia
Perseroan membayar angsuran pokok dan bunga The Company pays quarterly principal
setiap 3 (tiga) bulan dengan tingkat suku bunga tetap installments and interest with annual fixed rate of
sebesar 6,98%, dan menerima dengan tingkat 6.98% and has received a floating rate of SOFR
bunga mengambang SOFR Compound +1,08% Compound +1,08% in USD for cross-currency and
dalam USD untuk kontrak swap mata uang dan suku interest rate swap.
bunga.
Kontrak swap mata uang dan suku bunga Perseroan The Companyʼs cross currency and interest rate
telah memenuhi kriteria dan berlaku efektif sebagai swap contracts are designated as effective cash
lindung nilai arus kas. Oleh karenanya, nilai wajar flow hedge. Therefore, the fair value of the
instrumen lindung nilai disajikan pada penghasilan hedging instrument is presented under other
komprehensif lainnya di bagian ekuitas. Aset atau comprehensive income in the equity section. The
liabilitas terkait yang timbul dari transaksi swap related assets or liabilities arising from the swap
tersebut disajikan pada piutang atau utang derivatif. transaction is presented under derivative
receivables or payables.
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED
31 Desember/ 31 Desember/
December 2023 December 2022
Obligasi Berkelanjutan IV Tahap I 200.000 200.000 Continuing Bonds IV Phase I
Obligasi Berkelanjutan IV Tahap II 658.000 658.000 Continuing Bonds IV Phase II
Obligasi Berkelanjutan V Tahap I 386.000 858.000 Continuing Bonds V Phase I
Obligasi Berkelanjutan V Tahap II 1.400.850 1.400.850 Continuing Bonds V Phase II
Obligasi Berkelanjutan V Tahap III 1.228.055 1.228.055 Continuing Bonds V Phase III
Obligasi Berkelanjutan VI Tahap I 691.735 - Continuing Bonds VI Phase I
Obligasi Berkelanjutan VI Tahap II 1.131.110 - Continuing Bonds VI Phase II
5.695.750 4.344.905
Dikurangi: Less:
Beban emisi yang belum diamortisasi: Unamortized issuance cost:
Saldo awal 5.668 6.164 Beginning balance
Penambahan 6.283 3.118 Additions
Amortisasi (lihat Catatan 22) (3.716) (3.614) Amortization (refer to Note 22)
8.235 5.668
Total 5.687.515 4.339.237 Total
Surat berharga yang diterbitkan sesuai dengan jatuh Securities issued based on maturity profile, are as
temponya sebagai berikut: follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Tahun Year
2023 - 472.000 2023
2024 1.773.150 1.773.150 2024
2025 1.237.440 1.237.440 2025
2026 dan sesudahnya 2.685.160 862.315 2026 and there after
5.695.750 4.344.905
79
Page 383
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan IV Continuing Bonds IV
Obligasi Berkelanjutan IV Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds IV
Tahap I Tahun 2019 Phase I Year 2019
Pada tanggal 8 Januari 2019 Perseroan telah On 8 January 2019, the Company issued Mandiri
menerbitkan Obligasi Berkelanjutan IV Mandiri Tunas Finance Continuing Bonds IV Phase I Year
Tunas Finance Tahap I Tahun 2019 (”Obligasi 2019 (“Continuing Bonds IV Phase I”) with details
Berkelanjutan IV Tahap I”) dengan rincian sebagai as follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series B 200.000 9,75% 8 Januari/ Pembayaran penuh pada saat jatuh
January 2024 tempo/Bullet payment on due date
Obligasi tersebut dijamin dengan piutang These bonds are secured by the Companyʼs
pembiayaan konsumen Perseroan sebesar minimum consumer financing receivables for a minimum
60% untuk Obligasi Berkelanjutan IV Tahap I dari amount of 60% of the nominal value of Continuing
pokok obligasi terutang. Pada tanggal 31 Desember Bonds IV Phase I. As of 31 December 2023 and
2023 dan 2022, piutang pembiayaan konsumen yang 2022, the amount of consumer financing
dijaminkan adalah masing-masing sejumlah receivables that are pledged as security for bonds
Rp101.379 dan Rp103.042, sedangkan piutang payable is Rp101,379 and Rp103,042,
sewa pembiayaan yang dijaminkan adalah masing- respectively, while finance lease receivables that
masing sejumlah Rp18.621 dan Rp16.958 (lihat are pledged is Rp18,621 and Rp16,958,
Catatan 5 dan 6). Jika jumlah piutang pembiayaan respectively (refer to Note 5 and 6). If the amount
konsumen kurang dari yang dipersyaratkan, maka of consumer financing receivables is less than the
akan dipenuhi dari uang tunai yang ditempatkan requirement, the Company has to place sufficient
pada rekening penampungan atas nama Perseroan cash into an escrow account established by
yang ditunjuk oleh PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia Tbk as trustee for
(Persero) Tbk selaku wali amanat untuk Obligasi Continuing Bonds IV Phase I.
Berkelanjutan IV Tahap I.
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others,
Perseroan, antara lain memberikan jaminan fidusia collateral with fiduciary transfer of consumer
berupa piutang pembiayaan konsumen dan rasio financing receivables and debt to equity ratio not to
jumlah pinjaman terhadap ekuitas tidak melebihi exceed 10:1. Moreover, during the year that the
rasio 10:1. Selain itu, selama pokok obligasi belum bond principals are still outstanding, the Company
dilunasi, Perseroan tidak diperkenankan, antara lain is not allowed to, among others, merge unless
melakukan penggabungan usaha kecuali dilakukan performed on the same business and to sell or
pada bidang usaha yang sama serta menjual atau assign more than 50% of the Companyʼs asset,
mengalihkan lebih dari 50% aset Perseroan kecuali except for the Companyʼs normal business
untuk kegiatan usaha Perseroan sehari-hari. transactions.
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants as
diwajibkan dalam perjanjian tersebut diatas. required by the trustee agreements.
PT Pefindo telah menetapkan peringkat idAA+ PT Pefindo has rated the Continuing Bonds as
(Double A Plus) terhadap Obligasi Berkelanjutan IV idAA+ (Double A plus) of Continuing Bonds IV
Tahap I sesuai dengan Suratnya No.RC-950/PEF- Phase I based on its report No.RC-950/PEF-
DIR/X/2019 tanggal 9 Oktober 2019 untuk periode DIR/X/2019 dated 9 October 2019 for the period
8 Oktober 2019 sampai dengan 1 Oktober 2020. 8 October 2019 until 1 October 2020.
80
Page 384
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan IV (lanjutan) Continuing Bonds IV (continued)
Obligasi Berkelanjutan IV Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds IV
Tahap I Tahun 2019 (lanjutan) Phase I Year 2019 (continued)
PT Pefindo telah menetapkan kembali peringkat PT Pefindo has rated the Continuing Bonds as
idAAA (Triple A) terhadap Obligasi Berkelanjutan IV idAAA (Triple A) of Continuing Bonds IV Phase I
Tahap I terakhir sesuai dengan suratnya No. RC- with the latest based on its report No. RC-236/PEF-
236/PEF-DIR/III/2023 tanggal 16 Maret 2023 untuk DIR/III/2023 dated 16 March 2023 for the period 16
periode 16 Maret 2023 sampai dengan 1 Maret 2024. March 2023 until 1 March 2024.
Obligasi Berkelanjutan IV Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds IV
Tahap II Tahun 2019 Phase II Year 2019
Pada tanggal 26 Juli 2019 Perseroan telah On 26 July 2019, the Company issued Mandiri
menerbitkan Obligasi Berkelanjutan IV Mandiri Tunas Finance Continuing Bonds IV Phase II Year
Tunas Finance Tahap II Tahun 2019 (”Obligasi 2019 (“Continuing Bonds IV Phase II”) with details
Berkelanjutan IV Tahap II”) dengan rincian sebagai as follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series B 658.000 9,50% 26 Juli/ Pembayaran penuh pada saat jatuh
July 2024 tempo/Bullet payment on due date
Obligasi tersebut dijamin dengan piutang These bonds are secured by the Companyʼs
pembiayaan konsumen Perseroan sebesar minimum consumer financing receivables for a minimum
60% untuk Obligasi Berkelanjutan IV Tahap II dari amount of 60% of the nominal value of Continuing
pokok obligasi terutang. Pada tanggal 31 Desember Bonds IV Phase II. As of 31 December 2023 and
2023 dan 2022, piutang pembiayaan konsumen yang 2022, the amount of consumer financing
dijaminkan adalah masing-masing sejumlah receivables that are pledged as security for bonds
Rp325.965 dan Rp282.203, sedangkan piutang payable is Rp325,965 and Rp282,203,
sewa pembiayaan yang dijaminkan adalah masing- respectively, while the amount of finance lease
masing sejumlah Rp68.835 dan Rp112.597 (lihat receivables that are pledged is Rp68,835 and
Catatan 5 dan 6). Jika jumlah piutang pembiayaan Rp112,597, respectively (refer to Note 5 and 6). If
konsumen kurang dari yang dipersyaratkan, maka the amount of consumer financing receivables is
akan dipenuhi dari uang tunai yang ditempatkan less than the requirement, the Company has to
pada rekening penampungan atas nama Perseroan place sufficient cash into an escrow account
yang ditunjuk oleh PT Bank Rakyat Indonesia established by PT Bank Rakyat Indonesia
(Persero) Tbk selaku wali amanat untuk Obligasi (Persero) Tbk as trustee for Continuing Bonds IV
Berkelanjutan IV Tahap II. Phase II.
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others,
Perseroan, antara lain memberikan jaminan fidusia collateral with fiduciary transfer of consumer
berupa piutang pembiayaan konsumen dan rasio financing receivables and debt to equity ratio not to
jumlah pinjaman terhadap ekuitas tidak melebihi exceed 10:1. Moreover, during the year that the
rasio 10:1. Selain itu, selama pokok obligasi belum bond principals are still outstanding, the Company
dilunasi, Perseroan tidak diperkenankan, antara lain is not allowed to, among others, merge unless
melakukan penggabungan usaha kecuali dilakukan performed on the same business and to sell or
pada bidang usaha yang sama serta menjual atau assign more than 50% of the Companyʼs asset,
mengalihkan lebih dari 50% aset Perseroan kecuali except for the Companyʼs normal business
untuk kegiatan usaha Perseroan sehari-hari. transactions.
81
Page 385
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan IV (lanjutan) Continuing Bonds IV (continued)
Obligasi Berkelanjutan IV Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds IV
Tahap II Tahun 2019 (lanjutan) Phase II Year 2019 (continued)
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants as
diwajibkan dalam perjanjian tersebut diatas. required by the above trustee agreements.
PT Pefindo telah menetapkan peringkat idAA+ PT Pefindo has rated the Continuing Bonds as
(Double A Plus) terhadap Obligasi Berkelanjutan IV idAA+ (Double A plus) of Continuing Bonds IV
Tahap II sesuai dengan Suratnya No.RC-950/PEF- Phase II based on its report No.RC-950/PEF-
DIR/X/2019 tanggal 9 Oktober 2019 untuk periode 8 DIR/X/2019 dated 9 October 2019 for the period
Oktober 2019 sampai dengan 8 October 2019 until 1 October 2020.
1 Oktober 2020.
PT Pefindo telah menetapkan kembali peringkat PT Pefindo has rated the Continuing Bonds as
idAAA (Triple A) terhadap Obligasi Berkelanjutan IV idAAA (Triple A) of Continuing Bonds IV Phase II
Tahap II terakhir sesuai dengan suratnya No. RC- with the latest based on its report No. RC-236/PEF-
236/PEF-DIR/III/2023 tanggal 16 Maret 2023 untuk DIR/III/2023 dated 16 March 2023 for the period
periode 16 Maret 2023 sampai dengan 1 Maret 2024. 16 March 2023 until 1 March 2024.
Obligasi Berkelanjutan V Continuing Bonds V
Obligasi Berkelanjutan V Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds V
Tahap I Tahun 2020 Phase I Year 2020
Pada tanggal 13 Agustus 2020 Perseroan telah On 13 August 2020, the Company issued Mandiri
menerbitkan Obligasi Berkelanjutan V Mandiri Tunas Tunas Finance Continuing Bonds V Phase I Year
Finance Tahap I Tahun 2020 (”Obligasi 2020 (“Continuing Bonds V Phase I”) with details as
Berkelanjutan V Tahap I”) dengan rincian sebagai follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series A 472.000 8,00% 13 Agustus/ Pembayaran penuh pada saat jatuh
August 2023 tempo/Bullet payment on due date
Seri/Series B 386.000 8,60% 13 Agustus/ Pembayaran penuh pada saat jatuh
August 2025 tempo/Bullet payment on due date
Obligasi tersebut dijamin dengan piutang These bonds are secured by the Companyʼs
pembiayaan konsumen Perseroan sebesar minimum consumer financing receivables for a minimum
60% untuk Obligasi Berkelanjutan V Tahap I dari amount of 60% of the nominal value of Continuing
pokok obligasi terutang. Pada tanggal 31 Desember Bonds V Phase I. As of 31 December 2023 and
2023 dan 2022, piutang pembiayaan konsumen yang 2022, the amount of consumer financing
dijaminkan masing-masing adalah sejumlah receivables that are pledged as security for bonds
Rp231.600 dan Rp353.039, sedangkan piutang sewa payable is Rp231,600 and Rp353,039,
pembiayaan yang dijaminkan masing-masing adalah respectively, while finance lease receivables that
sejumlah RpNihil dan Rp161.762 (lihat Catatan 5 dan are pledged is RpNil and Rp161,762, respectively
6) (refer to Note 5 and 6).
Jika jumlah piutang pembiayaan konsumen kurang If the amount of consumer financing receivables is
dari yang dipersyaratkan, maka akan dipenuhi dari less than the requirement, the Company has to
uang tunai yang ditempatkan pada rekening place sufficient cash into an escrow account
penampungan atas nama Perseroan yang ditunjuk established by PT Bank Rakyat Indonesia
oleh PT Bank Rakyat Indonesia (Persero) Tbk selaku (Persero) Tbk as trustee for Continuing Bonds V
wali amanat untuk Obligasi Berkelanjutan V Tahap I. Phase I.
82
Page 386
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan V (lanjutan) Continuing Bonds V (Continued)
Obligasi Berkelanjutan V Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds V
Tahap I Tahun 2020 (lanjutan) Phase I Year 2020 (continued)
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others,
Perseroan, antara lain memberikan jaminan fidusia collateral with fiduciary transfer of consumer
berupa piutang pembiayaan konsumen dan rasio financing receivables and debt to equity ratio not to
jumlah pinjaman terhadap ekuitas tidak melebihi exceed 10:1. Moreover, during the year that the
rasio 10:1. Selain itu, selama pokok obligasi belum bond principals are still outstanding, the Company
dilunasi, Perseroan tidak diperkenankan, antara lain is not allowed to, among others, merge unless
melakukan penggabungan usaha kecuali dilakukan performed on the same business and to sell or
pada bidang usaha yang sama serta menjual atau assign more than 50% of the Companyʼs asset,
mengalihkan lebih dari 50% aset Perseroan kecuali except for the Companyʼs normal business
untuk kegiatan usaha Perseroan sehari-hari. transactions.
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants on
diwajibkan dalam perjanjian tersebut diatas. the trustee agreements
PT Pefindo telah menetapkan peringkat idAA+ PT Pefindo has rated the Continuing Bonds as
(Double A Plus) terhadap Obligasi Berkelanjutan V idAA+ (Double A plus) of Continuing Bonds V
Tahap I sesuai dengan suratnya No. RC-537/PEF- Phase I based on its report No. RC-537/PEF-
DIR/V/2020 tanggal 8 Mei 2020 untuk periode 8 Mei DIR/V/2020 dated 8 May 2020 for the period 8 May
2020 sampai dengan 1 Mei 2021. 2020 until 1 May 2021.
PT Pefindo telah menetapkan kembali peringkat PT Pefindo has rated the Continuing Bonds as
idAAA (Triple A) terhadap Obligasi Berkelanjutan V idAAA (Triple A) of Continuing Bonds V Phase I
Tahap I terakhir sesuai dengan suratnya No. RC- with the latest based on its report No. RC-236/PEF-
236/PEF-DIR/III/2023 tanggal 16 Maret 2023 untuk DIR/III/2023 dated 16 March 2023 for the period
periode 16 Maret 2023 sampai dengan 1 Maret 2024. 16 March 2023 until 1 March 2024.
Perseroan telah melunasi utang obligasi The company has paid off continuing Bonds V
Berkelanjutan V Tahap I seri A sebesar Rp472.000 Phase I serie A in the amount Rp472,000 on
pada tanggal 10 Agustus 2023. 10 August 2023.
Obligasi Berkelanjutan V Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds V
Tahap II Tahun 2021 Phase II Year 2021
Pada tanggal 20 Mei 2021 Perseroan telah On 20 May 2021, the Company issued Mandiri
menerbitkan Obligasi Berkelanjutan V Mandiri Tunas Tunas Finance Continuing Bonds V Phase II Year
Finance Tahap II Tahun 2021 (”Obligasi 2021 (“Continuing Bonds V Phase II”) with details
Berkelanjutan V Tahap II”) dengan rincian sebagai as follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series A 915.150 7,00% 20 Mei/ Pembayaran penuh pada saat jatuh
May 2024 tempo/Bullet payment on due date
Seri/Series B 485.700 7,65% 20 Mei/ Pembayaran penuh pada saat jatuh
May 2026 tempo/Bullet payment on due date
83
Page 387
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan V (lanjutan) Continuing Bonds V (Continued)
Obligasi Berkelanjutan V Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds V
Tahap II Tahun 2021 (lanjutan) Phase II Year 2021 (continued)
Obligasi tersebut dijamin dengan piutang pembiayaan These bonds are secured by the Companyʼs
konsumen Perseroan sebesar minimum 60% untuk consumer financing receivables for a minimum
Obligasi Berkelanjutan V Tahap II dari pokok oblgasi amount of 60% of the nominal value of Continuing
terutang. Pada tanggal 31 Desember 2023 dan 2022, Bonds V Phase II. As of 31 December 2023 and
piutang pembiayaan konsumen yang dijaminkan 2022, the amount of consumer financing receivables
adalah masing-masing sejumlah Rp728.320 dan that are pledged as security for bonds payable is
Rp596.304 sedangkan piutang sewa pembiayaan Rp728,320 and Rp596,304, respectively, while the
yang dijaminkan adalah masing-masing sejumlah amount of finance lease receivables that are pledged
Rp112.190 dan Rp244.206 (lihat Catatan 5 dan 6). is Rp112,190 and Rp244,206, respectively (refer to
Note 5 and 6).
Jika jumlah piutang pembiayaan konsumen kurang If the amount of consumer financing receivables is
dari yang dipersyaratkan, maka akan dipenuhi dari less than the requirement, the Company has to place
uang tunai yang ditempatkan pada rekening sufficient cash into an escrow account established by
penampungan atas nama Perseroan yang ditunjuk PT Bank Rakyat Indonesia (Persero) Tbk as trustee
oleh PT Bank Rakyat Indonesia (Persero) Tbk selaku for Continuing Bonds V Phase II.
wali amanat untuk Obligasi Berkelanjutan V Tahap II.
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others, collateral
Perseroan, antara lain memberikan jaminan fidusia with fiduciary transfer of consumer financing
berupa piutang pembiayaan konsumen dan rasio receivables and debt to equity ratio not to exceed
jumlah pinjaman terhadap ekuitas tidak melebihi rasio 10:1. Moreover, during the year that the bond
10:1. Selain itu, selama pokok obligasi belum dilunasi, principals are still outstanding, the Company is not
Perseroan tidak diperkenankan, antara lain allowed to, among others, merge unless performed
melakukan penggabungan usaha kecuali dilakukan on the same business and to sell or assign more than
pada bidang usaha yang sama serta menjual atau 50% of the Companyʼs asset, except for the
mengalihkan lebih dari 50% aset Perseroan kecuali Companyʼs normal business transactions.
untuk kegiatan usaha Perseroan sehari-hari.
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants as
diwajibkan dalam perjanjian tersebut diatas. required by the above trustee agreements..
PT Pefindo telah menetapkan peringkat idAA+ PT Pefindo has rated the Continuing Bonds as
(Double A Plus) terhadap Obligasi Berkelanjutan V idAA+ (Double A plus) of Continuing Bonds V
Tahap II sesuai dengan suratnya No. RC-498/PEF- Phase II based on its report No. RC-498/PEF-
DIR/V/2021 tanggal 6 Mei 2021 untuk periode 6 Mei DIR/V/2021 dated 6 May 2021 for the period 6 May
2021 sampai dengan 1 Mei 2022. 2021 until 1 May 2022.
PT Pefindo telah menetapkan kembali peringkat PT Pefindo has rated the Continuing Bonds as
idAAA (Triple A) terhadap Obligasi Berkelanjutan V idAAA (Triple A) of Continuing Bonds V Phase II
Tahap II terakhir sesuai dengan suratnya No. RC- with the latest based on its report No. RC-236/PEF-
236/PEF-DIR/III/2023 tanggal 16 Maret 2023 untuk DIR/III/2023 dated 16 March 2023 for the period
periode 16 Maret 2023 sampai dengan 1 Maret 2024. 16 March 2023 until 1 March 2024.
84
Page 388
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan V (lanjutan) Continuing Bonds V (Continued)
Obligasi Berkelanjutan V Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds V
Tahap III Tahun 2022 Phase III Year 2022
Pada tanggal 23 Februari 2022, Perseroan telah On 23 February 2022, the Company issued Mandiri
menerbitkan Obligasi Berkelanjutan V Mandiri Tunas Tunas Finance Continuing Bonds V Phase III Year
Finance Tahap III Tahun 2022 (”Obligasi 2022 (“Continuing Bonds V Phase III”) with details
Berkelanjutan V Tahap III”) dengan rincian sebagai as follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series A 851.440 5,90% 23 Februari/ Pembayaran penuh pada saat jatuh
February 2025 tempo/Bullet payment on due date
Seri/Series B 376.615 6,75% 23 Februari/ Pembayaran penuh pada saat jatuh
February 2027 tempo/Bullet payment on due date
Obligasi tersebut dijamin dengan piutang pembiayaan These bonds are secured by the Companyʼs
konsumen Perseroan sebesar minimum 60% untuk consumer financing receivables for a minimum
Obligasi Berkelanjutan V Tahap III dari pokok obligasi amount of 60% of the nominal value of Continuing
terutang. Pada tanggal 31 Desember 2023 dan 2022, Bonds V Phase III. As of 31 December 2023 and
piutang pembiayaan konsumen yang dijaminkan 2022, the amount of consumer financing
adalah sejumlah Rp612.911 dan Rp383.531 receivables that are pledged as security for bonds
sedangkan piutang sewa pembiayaan yang payable is Rp612,911 and Rp383,531 while the
dijaminkan adalah sejumlah Rp123.922 dan amount of finance lease receivables that are
Rp353.302 (lihat Catatan 5 dan 6). pledged is Rp123,922 and Rp353,302 (refer to
Note 5 and 6).
Jika jumlah piutang pembiayaan konsumen kurang If the amount of consumer financing receivables is
dari yang dipersyaratkan, maka akan dipenuhi dari less than the requirement, the Company has to
uang tunai yang ditempatkan pada rekening place sufficient cash into an escrow account
penampungan atas nama Perseroan yang ditunjuk established by PT Bank Rakyat Indonesia
oleh PT Bank Rakyat Indonesia (Persero) Tbk selaku (Persero) Tbk as trustee for Continuing Bonds V
wali amanat untuk Obligasi Berkelanjutan V Tahap III. Phase III.
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others,
Perseroan, antara lain memberikan jaminan fidusia collateral with fiduciary transfer of consumer
berupa piutang pembiayaan konsumen dan rasio financing receivables and debt to equity ratio not to
jumlah pinjaman terhadap ekuitas tidak melebihi rasio exceed 10:1. Moreover, during the year that the
10:1. Selain itu, selama pokok obligasi belum dilunasi, bond principals are still outstanding, the Company
Perseroan tidak diperkenankan, antara lain is not allowed to, among others, merge unless
melakukan penggabungan usaha kecuali dilakukan performed on the same business and to sell or
pada bidang usaha yang sama serta menjual atau assign more than 50% of the Companyʼs asset,
mengalihkan lebih dari 50% aset Perseroan kecuali except for the Companyʼs normal business
untuk kegiatan usaha Perseroan sehari-hari. transactions.
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants as
diwajibkan dalam perjanjian tersebut diatas. required by the trustee agreements.
85
Page 389
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan V (lanjutan) Continuing Bonds V (Continued)
Obligasi Berkelanjutan V Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds V
Tahap III Tahun 2022 (lanjutan) Phase III Year 2022 (continued)
PT Pefindo telah menetapkan peringkat idAA+ PT Pefindo has rated the Continuing Bonds as
(Double A Plus) terhadap Obligasi Berkelanjutan V idAA+ (Double A Plus) of Continuing Bonds V
Tahap III sesuai dengan suratnya No. RC-498/PEF- Phase III based on its report No. RC-498/PEF-
DIR/V/2021 tanggal 6 Mei 2021 untuk periode 6 Mei DIR/V/2021 dated 6 May 2021 for the period 6 May
2021 sampai dengan 1 Mei 2022. 2021 until 1 May 2022.
PT Pefindo telah menetapkan kembali peringkat PT Pefindo has rated the Continuing Bonds as
idAAA (Triple A) terhadap Obligasi Berkelanjutan V idAAA (Triple A) of Continuing Bonds V Phase III
Tahap III terakhir sesuai dengan suratnya No. RC- with the latest based on its report No. RC-236/PEF-
236/PEF-DIR/III/2023 tanggal 16 Maret 2023 untuk DIR/III/2023 dated 16 March 2023 for the period
periode 16 Maret 2023 sampai dengan 1 Maret 2024. 16 March 2023 until 1 March 2024.
Obligasi Berkelanjutan VI Continuing Bonds VI
Obligasi Berkelanjutan VI Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds VI
Tahap I Tahun 2023 Phase I Year 2023
Pada tanggal 11 Juli 2023, Perseroan telah On 11 July 2023, the Company issued Mandiri
menerbitkan Obligasi Berkelanjutan V Mandiri Tunas Tunas Finance Continuing Bonds VI Phase I Year
Finance Tahap I Tahun 2023 (”Obligasi 2023 (“Continuing Bonds V Phase I”) with details as
Berkelanjutan VI Tahap I”) dengan rincian sebagai follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series A 439.660 6.00% 11 Juli/ Pembayaran penuh pada saat jatuh
July 2026 tempo/Bullet payment on due date
Seri/Series B 252.075 6.25% 11 Juli/ Pembayaran penuh pada saat jatuh
July 2028 tempo/Bullet payment on due date
Obligasi tersebut dijamin dengan piutang pembiayaan These bonds are secured by the Companyʼs
konsumen Perseroan sebesar minimum 60% untuk consumer financing receivables for a minimum
Obligasi Berkelanjutan VI Tahap I dari pokok obligasi amount of 60% of the nominal value of Continuing
terutang. Pada tanggal 31 Desember 2023, piutang Bonds VI Phase I. As of 31 December 2023, the
pembiayaan konsumen yang dijaminkan adalah amount of consumer financing receivables that are
sejumlah Rp235.160 sedangkan piutang sewa pledged as security for bonds payable is Rp235,160
pembiayaan yang dijaminkan adalah sejumlah while the amount of finance lease receivables that
Rp179.881 (lihat Catatan 5 dan 6). are pledged is Rp179,881 (refer to Note 5 and 6).
Jika jumlah piutang pembiayaan konsumen kurang If the amount of consumer financing receivables is
dari yang dipersyaratkan, maka akan dipenuhi dari less than the requirement, the Company has to
uang tunai yang ditempatkan pada rekening place sufficient cash into an escrow account
penampungan atas nama Perseroan yang ditunjuk established by PT Bank Rakyat Indonesia
oleh PT Bank Rakyat Indonesia (Persero) Tbk selaku (Persero) Tbk as trustee for Continuing Bonds VI
wali amanat untuk Obligasi Berkelanjutan VI Tahap I. Phase I.
86
Page 390
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan VI (lanjutan) Continuing Bonds VI (Continued)
Obligasi Berkelanjutan VI Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds VI
Tahap I Tahun 2023 (lanjutan) Phase I Year 2023 (continued)
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others, collateral
Perseroan, antara lain memberikan jaminan fidusia with fiduciary transfer of consumer financing
berupa piutang pembiayaan konsumen dan rasio receivables and debt to equity ratio not to exceed
jumlah pinjaman terhadap ekuitas tidak melebihi 10:1. Moreover, during the year that the bond
rasio 10:1. Selain itu, selama pokok obligasi belum principals are still outstanding, the Company is not
dilunasi, Perseroan tidak diperkenankan, antara lain allowed to, among others, merge unless performed
melakukan penggabungan usaha kecuali dilakukan on the same business and to sell or assign more
pada bidang usaha yang sama serta menjual atau than 50% of the Companyʼs asset, except for the
mengalihkan lebih dari 50% aset Perseroan kecuali Companyʼs normal business transactions.
untuk kegiatan usaha Perseroan sehari-hari.
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants as
diwajibkan dalam perjanjian tersebut diatas. required by the trustee agreements.
PT Pefindo telah menetapkan peringkat idAAA (Triple PT Pefindo has rated the Continuing Bonds as
A) terhadap Obligasi Berkelanjutan VI Tahap I sesuai idAAA (Triple A) of Continuing Bonds VI Phase I
dengan suratnya No. RC-235/PEF-DIR/III/2023 based on its report No. RC-235/PEF-DIR/III/2023
tanggal 16 Maret 2023 untuk periode 16 Maret 2023 dated 16 March 2023 for the period 16 March 2023
sampai dengan 1 Maret 2024. until 1 March 2024.
Obligasi Berkelanjutan VI Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds VI
Tahap II Tahun 2023 Phase II Year 2023
Pada tanggal 27 September 2023 Perseroan telah On 27 September 2023, the Company issued
menerbitkan Obligasi Berkelanjutan VI Mandiri Mandiri Tunas Finance Continuing Bonds VI Phase
Tunas Finance Tahap II Tahun 2023 (”Obligasi II Year 2023 (“Continuing Bonds V Phase II”) with
Berkelanjutan VI Tahap II”) dengan rincian sebagai details as follows:
berikut:
Tingkat bunga
tetap per tahun/
Obligasi/ Nilai nominal/ Fixed interest Jatuh tempo/ Cicilan pokok Obligasi/
Bonds Nominal value rate per annum Due date Bonds principal installment
Seri/Series A 804.175 6.50% 27 September/ Pembayaran penuh pada saat jatuh
September 2026 tempo/Bullet payment on due date
Seri/Series B 326.935 6.75% 27 September/ Pembayaran penuh pada saat jatuh
September 2028 tempo/Bullet payment on due date
Obligasi tersebut dijamin dengan piutang pembiayaan These bonds are secured by the Companyʼs
konsumen Perseroan sebesar minimum 60% untuk consumer financing receivables for a minimum
Obligasi Berkelanjutan VI Tahap II dari pokok obligasi amount of 60% of the nominal value of Continuing
terutang. Pada tanggal 31 Desember 2023, piutang Bonds VI Phase II As of 31 December 2023, the
pembiayaan konsumen yang dijaminkan adalah amount of consumer financing receivables that are
sejumlah Rp419.035 sedangkan piutang sewa pledged as security for bonds payable is
pembiayaan yang dijaminkan adalah sejumlah Rp419,035 while the amount of finance lease
Rp259.631 (lihat Catatan 5 dan 6). receivables that are pledged is Rp259,631 (refer
to Note 5 and 6).
87
Page 391
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. SURAT BERHARGA YANG DITERBITKAN 17. SECURITIES ISSUED (continued)
(lanjutan)
Obligasi Berkelanjutan VI (lanjutan) Continuing Bonds VI (Continued)
Obligasi Berkelanjutan VI Mandiri Tunas Finance Mandiri Tunas Finance Continuing Bonds VI
Tahap II Tahun 2023 (lanjutan) Phase II Year 2023 (continued)
Jika jumlah piutang pembiayaan konsumen kurang If the amount of consumer financing receivables is
dari yang dipersyaratkan, maka akan dipenuhi dari less than the requirement, the Company has to
uang tunai yang ditempatkan pada rekening place sufficient cash into an escrow account
penampungan atas nama Perseroan yang ditunjuk established by PT Bank Rakyat Indonesia
oleh PT Bank Rakyat Indonesia (Persero) Tbk selaku (Persero) Tbk as trustee for Continuing Bonds VI
wali amanat untuk Obligasi Berkelanjutan VI Tahap II. Phase II.
Dalam perjanjian perwaliamanatan juga diatur The trustee agreement provides several negative
beberapa pembatasan yang harus dipenuhi oleh covenants to the Company, among others,
Perseroan, antara lain memberikan jaminan fidusia collateral with fiduciary transfer of consumer
berupa piutang pembiayaan konsumen dan rasio financing receivables and debt to equity ratio not to
jumlah pinjaman terhadap ekuitas tidak melebihi rasio exceed 10:1. Moreover, during the year that the
10:1. Selain itu, selama pokok obligasi belum dilunasi, bond principals are still outstanding, the Company
Perseroan tidak diperkenankan, antara lain is not allowed to, among others, merge unless
melakukan penggabungan usaha kecuali dilakukan performed on the same business and to sell or
pada bidang usaha yang sama serta menjual atau assign more than 50% of the Companyʼs asset,
mengalihkan lebih dari 50% aset Perseroan kecuali except for the Companyʼs normal business
untuk kegiatan usaha Perseroan sehari-hari. transactions.
Perseroan telah memenuhi batasan-batasan yang The Company has complied with the covenants as
diwajibkan dalam perjanjian tersebut diatas. required by the trustee agreements.
PT Pefindo telah menetapkan peringkat idAAA (Triple PT Pefindo has rated the Continuing Bonds as
A) terhadap Obligasi Berkelanjutan VI Tahap II sesuai idAAA (Triple A) of Continuing Bonds VI Phase II
dengan suratnya No. RC-235/PEF-DIR/III/2023 based on its report No. RC-235/PEF-DIR/III/2023
tanggal 16 Maret 2023 untuk periode 16 Maret 2023 dated 16 March 2023 for the period 16 March 2023
sampai dengan 1 Maret 2024. until 1 March 2024.
18. LIABILITAS IMBALAN KERJA KARYAWAN 18. EMPLOYEE BENEFITS OBLIGATION
Liabilitas imbalan kerja terdiri dari: Employee benefits liabilities consist of:
31 Desember/ 31 Desember/
December 2023 December 2022
Liabilitas program imbalan pasti 217.954 150.091 Defined benefit plan liabilities
Liabilitas jangka panjang lainnya 56.592 44.849 Other long-term benefit liabilities
Total 274.546 194.940 Total
88
Page 392
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA KARYAWAN 18. EMPLOYEE BENEFITS OBLIGATION (continued)
(lanjutan)
a. Liabilitas program imbalan pasti a. Defined benefit plan liabilities
Jumlah yang diakui dalam laporan laba rugi dan The amounts recognized in the statement of
penghasilan komprehensif lain untuk program profit or loss and other comprehensive income
imbalan pasti adalah sebagai berikut: for defined benefit plan, are as follows:
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Biaya jasa kini 23.444 17.857 Current service costs
Biaya bunga 10.636 9.120 Interest costs
Biaya jasa lalu 26.549 (18.885) Past service costs
60.629 8.092
Biaya pesangon pemutusan
hubungan kerja 2.080 6.685 Termination expense
Total 62.709 14.777 Total
Mutasi liabilitas imbalan kerja karyawan pada The movements in employee benefits obligation
laporan posisi keuangan untuk program imbalan in the statement of financial position for defined
pasti adalah sebagai berikut: benefit plan, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 150.091 148.413 Beginning balance
Penyisihan pada laba rugi 62.709 14.777 Provision in profit or loss
Penyisihan pada penghasilan Provision in other
komprehensif lain 10.502 (3.070) comprehensive income
Pembayaran tahun berjalan (5.348) (10.029) Payment during the year
Saldo akhir 217.954 150.091 Ending balance
Mutasi nilai kini kewajiban imbalan kerja karyawan The movements of present value of employee
yang diakui pada laporan posisi keuangan untuk benefit obligation presented in the statement of
program imbalan pasti adalah sebagai berikut: financial position for defined benefit plan, are as
follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 150.091 148.413 Beginning balance
Biaya jasa kini 23.444 17.857 Current service costs
Biaya bunga 10.636 9.120 Interest costs
Biaya jasa lalu 26.549 (18.885) Past service costs
Pembayaran tahun berjalan (5.348) (10.029) Payments during the year
Biaya pesangon pemutusan
hubungan kerja 2.080 6.685 Termination
Kerugian (keuntungan) pada Actuarial losses (gains)
kewajiban aktuaria: on obligation:
Perbedaan historis 2.302 695 Experience adjustment
Asumsi keuangan 8.200 (3.765) Financial assumption
Saldo akhir 217.954 150.091 Ending balance
89
Page 393
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA KARYAWAN 18. EMPLOYEE BENEFITS OBLIGATION
(lanjutan) (continued)
a. Liabilitas program imbalan pasti (lanjutan) a. Defined benefit plan liabilities (continued)
Mutasi kerugian aktuarial yang diakui sebagai The movements in the balance of actuarial loss
penghasilan komprehensif lain untuk program charged to other comprehensive income for
imbalan pasti, bruto pajak tangguhan sebagai defined benefit plan, gross deferred tax, are as
berikut: follows:
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Saldo awal 38.714 41.784 Beginning balance
Kerugian (keuntungan) aktuarial Actuaria losses (gains)
yang diakui sebagai penghasilan charged to other
komprehensif lain 10.502 (3.070) comprehensive income
Saldo akhir 49.216 38.714 Ending balance
b. Liabilitas jangka panjang lainnya b. Other long-term liabilities
Jumlah yang diakui dalam laporan laba rugi dan The amounts recognized in the statement of
penghasilan komprehensif lain untuk liabilitas profit or loss and other comprehensive income
jangka panjang lainnya adalah sebagai berikut: for other long-term liabilities, are as follows:
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Biaya jasa kini 6.521 5.668 Current service costs
Biaya bunga 4.688 - Interest costs
Biaya jasa lalu 6.797 39.181 Past service costs
18.006 44.849
Biaya pesangon pemutusan
hubungan kerja (6.263) - Termination expense
Total 11.743 44.849 Total
Mutasi liabilitas imbalan kerja karyawan pada The movements in employee benefits obligation
laporan posisi keuangan untuk liabilitas jangka in the statement of financial position for other
panjang lainnya adalah sebagai berikut: long-term liabilities, are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 44.849 - Beginning balance
Penyisihan pada laba rugi 18.006 44.849 Provision in profit or loss
Pembayaran tahun berjalan (6.263) - Payment during the year
Saldo akhir 56.592 44.849 Ending balance
90
Page 394
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA KARYAWAN 18. EMPLOYEE BENEFITS OBLIGATION
(lanjutan) (continued)
b. Liabilitas jangka panjang lainnya (lanjutan) b. Other long-term liabilities (continued)
Mutasi nilai kini kewajiban imbalan kerja karyawan The movements of present value of employee
yang diakui pada laporan posisi keuangan untuk benefit obligation presented in the statement of
liabilitas jangka panjang lainnya adalah sebagai financial position for other-long term liabilities,
berikut: are as follows:
31 Desember/ 31 Desember/
December 2023 December 2022
Saldo awal 44.849 - Beginning balance
Biaya jasa kini 6.521 5.668 Current service costs
Biaya bunga 4.688 - Interest costs
Biaya jasa lalu 6.797 39.181 Past service costs
62.855 44.849
Biaya pesangon pemutusan
hubungan kerja (6.263) - Termination expense
Saldo akhir 56.592 44.849 Ending balance
Liabilitas imbalan kerja karyawan pada tanggal The employee benefits obligation as of
31 Desember 2023 dan 2022 didasarkan atas 31 December 2023 and 2022 are based on the
estimasi perhitungan aktuaria yang tercantum estimated actuarial calculation of
pada laporan Steven & Mourits dengan Steven & Mourits using the projected unit credit
menggunakan metode projected unit credit method in its report dated
dalam laporan aktuarianya tanggal 2 Januari 2 January 2024 and 2 January 2023, respectively.
2024 dan 2 Januari 2023. Asumsi-asumsi dasar The principal actuarial assumptions used by the
yang digunakan aktuaris independen adalah independent actuary were as follows:
sebagai berikut:
31 Desember/ 31 Desember/
December 2023 December 2022
6,70% per tahun/ 7,25% per tahun/
Tingkat diskonto tetap - karyawan permanen per annum per annum Discount rate - permanent employees
6,40% per tahun/ 3,25% per tahun/
Tingkat diskonto tetap - karyawan kontrak per annum per annum Discount rate - contract employees
Tingkat kenaikan gaji 7% per tahun/per annum 7% per tahun/per annum Salary increment rate
Tingkat kematian TMI 4 TMI 4 Rate of mortality
Tingkat cacat 10% dari/from TMI 4 10% dari/from TMI 4 Rate of disability
Tingkat pengunduran diri 7% per tahun pada usia 7% per tahun pada usia Rate of resignations
sampai dengan 40 tahun sampai dengan 40 tahun
dan berkurang hingga dan berkurang hingga
0,00% pada usia 55 tahun/ 0,00% pada usia 55 tahun/
7% per annum up to 40 7% per annum up to 40
years old and decrease years old and decrease
linearly up to 0.00% at linearly up to 0.00% at
55 years old 55 years old
Tingkat pensiun Karyawan yang bergabung Karyawan yang bergabung Rate of retirements
sejak 1 September 2021, sejak 1 September 2021,
usia pensiun 56 tahun atau usia pensiun 56 tahun atau
46 tahun berdasarkan level/ 46 tahun berdasarkan level/
Employee who join since Employee who join since
1 September 2021, normal 1 September 2021, normal
retirement age 56 years or retirement age 56 years or
46 years based on level. 46 years based on level.
Karyawan yang bergabung Karyawan yang bergabung
sebelum 1 September 2021, sebelum 1 September 2021,
usia pensiun 55 tahun atau usia pensiun 55 tahun atau
56 tahun berdasarkan level/ 56 tahun berdasarkan level/
Employee who join before Employee who join before
1 September 2021, normal 1 September 2021, normal
retirement age 55 years or retirement age 55 years or
56 years based on level. 56 years based on level.
91
Page 395
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA KARYAWAN 18. EMPLOYEE BENEFITS OBLIGATION
(lanjutan) (continued)
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to
kemungkinan perubahan tingkat diskonto dan tingkat a reasonably possible change in discount rates and
kenaikan gaji sebesar 1%, dengan variabel lain salary increment rate of 1%, with all other variables
dianggap tetap, terhadap nilai kewajiban imbalan held constant, of the present value of employee
kerja karyawan: (tidak diaudit) benefits obligation: (unaudited)
31 Desember/December 2023
Tingkat diskonto/ Tingkat kenaikan gaji/
Discount rate Salary increment rate
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/
Increase Decrease Increase Decrease
Dampak pada nilai kini kewajiban (20.847) 23.591 25.166 (22.490) Effect on present value of
imbalan kerja karyawan employee benefit obligation
31 Desember/December 2022
Tingkat diskonto/ Tingkat kenaikan gaji/
Discount rate Salary increment rate
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/
Increase Decrease Increase Decrease
Dampak pada nilai kini kewajiban Effect on present value of
imbalan kerja karyawan (14.714) 16.640 17.086 (15.373) employee benefit obligation
Analisa profil jatuh tempo pembayaran imbalan kerja The maturity profile analysis of the employee
karyawan pada tanggal 31 Desember 2023 dan 2022: benefits payments as of 31 December 2023 and
(tidak diaudit) 2022, is as follows: (unaudited)
31 Desember/ 31 Desember/
December 2023 December 2022
1 tahun 20.939 13.162 1 years
2 - 5 tahun 89.957 70.544 2 - 5 years
Lebih dari 5 tahun 508.988 361.789 More than 5 years
Saldo akhir 619.884 445.495 Ending balance
Durasi rata-rata tertimbang dari nilai kini kewajiban The weighted average duration of the present value
imbalan kerja karyawan untuk karyawan permanen di of employee benefits obligation for permanent
akhir periode pelaporan tanggal 31 Desember 2023 employees at the end of reporting period as of
dan 2022 masing-masing adalah 12,53 dan 12,48 31 December 2023 and 2022 is 12.53 and
tahun (tidak diaudit). 12.48 years, respectively (unaudited).
Durasi rata-rata tertimbang dari nilai kini kewajiban The weighted average duration of the present value
imbalan kerja karyawan untuk karyawan kontrak di of employee benefits obligation for contract
akhir periode pelaporan tanggal 31 Desember 2023 employees at the end of reporting period as of
dan 2022 masing-masing adalah 0,67 dan 0,72 tahun 31 December 2023 and 2022 is 0.67 and
(tidak diaudit). 0.72 years, respectively (unaudited).
92
Page 396
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA KARYAWAN 18. EMPLOYEE BENEFITS OBLIGATION
(lanjutan) (continued)
Pada bulan April 2022, DSAK IAI (Dewan Standar In April 2022, DSAK IAI (Institute of Indonesia
Akuntansi Keuangan Ikatan Akuntan Indonesia) Chartered Accountantsʼ Accounting Standard
menerbitkan materi penjelasan melalui siaran pers Board) issued an explanatory material through a
atas persyaratan pengatribusian imbalan pada press release regarding attribution of benefits to
periode jasa sesuai PSAK 24: Imbalan Kerja yang periods of service in accordance with PSAK 24:
diadopsi dari IAS 19 Employee Benefits. Materi Imbalan Kerja which was adopted from IAS 19
penjelasan tersebut menyampaikan informasi bahwa Employee Benefits. The explanatory material
pola fakta umum dari program pensiun berbasis conveyed the information that the fact pattern of the
undang-undang ketenagakerjaan yang berlaku di pension program based on the Labor Law currently
Indonesia saat ini memiliki pola fakta serupa dengan enacted in Indonesia is similar to those responded
yang ditanggapi dan disimpulkan dalam IFRS and concluded in the IFRS Intepretation Committee
Intepretation Committee (“IFRIC”) Agenda Decision (IFRIC) Agenda Decision Attributing Benefit to
Attributing Benefit to Periods of Service (IAS 19). Periods of Service (IAS 19). The Company has
Perseroan telah menerapkan materi penjelasan adopted the said explanatory material and
tersebut dan dengan demikian merubah kebijakan accordingly changed its accounting policy regarding
akuntansi menyangkut atribusi imbalan kerja pada attribution of benefits to periods of service. The
periode jasa. Dampak dari penerapan perubahan impact of the change of the accounting policy was
kebijakan akuntansi tersebut terhadap laporan insignificant to the financial statements as of
keuangan 31 Desember 2021 dan untuk tahun yang 31 December 2021 and for the year then ended,
berakhir pada tanggal tersebut tidak signifikan, oleh therefore, the Company recognised the impact of
karena itu, Perseroan membukukan dampak dari the change in accounting policy to the financial
perubahan kebijakan akuntansi di dalam laporan statements as of 31 December 2022 and for the
keuangan pada tanggal 31 Desember 2022 dan year then ended.
untuk tahun yang berakhir pada tanggal tersebut.
19. MODAL SAHAM 19. SHARE CAPITAL
Komposisi pemegang saham Perseroan pada The composition of the Companyʼs shareholders as
tanggal 31 Desember 2023 dan 2022 adalah sebagai of 31 December 2023 and 2022, is as follows:
berikut:
Jumlah Persentase
saham/ kepemilikan/
Number of Nilai/ Percentage of
Pemegang saham shares Value ownership (%) Shareholders
PT Bank Mandiri (Persero) Tbk 1.275.000.000 127.500 51,00 PT Bank Mandiri (Persero) Tbk
PT Tunas Rideana) 1.225.000.000 122.500 49,00 PT Tunas Rideana)
2.500.000.000 250.000 100,00
a) Telah delisting dari Bursa Efek Indonesia efektif 6 April 2023 a) Has been delisted from Indonesia Stock Exchange effective
6 April 2023
20. PENGGUNAAN LABA 20. PROFIT DISTRIBUTIONS
Cadangan wajib telah dibentuk sesuai dengan A general reserve has been established in
Undang-undang No. 40/2007 mengenai Perseroan accordance with the Indonesian Limited Company
Terbatas, yang mengharuskan perseroan Indonesia Law No. 40/2007 which requires Indonesian
untuk membuat penyisihan cadangan wajib untuk companies to set up a general reserve amounting
ditentukan penggunaannya sebesar sekurang- to at least 20.00% of the Companyʼs issued and
kurangnya 20,00% dari jumlah modal Perseroan paid up share capital. There is no set period of time
yang ditempatkan dan disetor penuh. Undang- over which this amount should be accumulated.
undang tersebut tidak mengatur jangka waktu untuk The balance of the general reserve as of
mencapai cadangan wajib minimum tersebut. Saldo 31 December 2023 and 2022 is Rp50,000.
cadangan wajib pada tanggal 31 Desember 2023 dan
2022 adalah Rp50.000.
93
Page 397
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PENGGUNAAN LABA (lanjutan) 20. PROFIT DISTRIBUTIONS (continued)
Rapat Umum Pemegang Saham Tahunan tanggal The Annual General Shareholder Meeting on
28 Juni 2023 memutuskan untuk menyetujui 28 June 2023 resolved to approve the declaration
pembagian dividen final tahun 2022 sejumlah of 2022 final dividends amounting to Rp225,064
Rp225.064 dari laba neto tahun 2022. from the 2022 net income.
Rapat Umum Pemegang Saham Tahunan tanggal The Annual General Shareholder Meeting on
17 Juni 2022 memutuskan untuk menyetujui 17 June 2022 resolved to approve the declaration
pembagian dividen final tahun 2021 sejumlah of 2021 final dividends amounting to Rp49,175 from
Rp49.175 dari laba neto tahun 2021. the 2021 net income.
21. PENDAPATAN 21. REVENUE
a. Pembiayaan konsumen a. Consumer financing
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Pendapatan Consumer
pembiayaan konsumen 1.890.945 1.463.045 financing income
Pendapatan administrasi dari Administration income from joint
pembiayaan bersama 846.890 855.909 income
Amortisasi biaya transaksi dan Amortization of transaction cost
yield enhancing income 251.448 110.832 and yield enhancing income
Pendapatan dari piutang Income
yang mengalami penurunan nilai 10.260 6.451 from impaired asset
2.999.543 2.436.237
Pihak berelasi Related parties
Realisasi pendapatan Realized consumer
pembiayaan konsumen 807 767 financing income
3.000.350 2.437.004
Lihat Catatan 26c untuk rincian saldo dan Refer to Note 26c for details of balances and
transaksi pihak berelasi. transactions with related parties.
b. Sewa pembiayaan b. Finance lease
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Pendapatan Financial
sewa pembiayaan 656.861 604.570 lease income
Amortisasi biaya transaksi dan Amortization of transaction cost
yield enhancing income (7.129) (49.080) and yield enhancing income
Pendapatan administrasi dari Administration income from joint
pembiayaan bersama 3.019 10.039 financing
652.751 565.529
94
Page 398
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
21. PENDAPATAN (lanjutan) 21. REVENUE (continued)
c. Anjak piutang c. Factoring
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Pendapatan Financial
anjak piutang 909 9.715 factoring income
d. Simpanan bank d. Deposit in bank
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Rekening koran 943 633 Current accounts
Pihak berelasi Related parties
Deposito berjangka Time deposits
dan rekening koran 16.191 14.530 and current accounts
17.134 15.163
Lihat Catatan 26c untuk rincian saldo dan Refer to Note 26c for details of balances and
transaksi dengan pihak berelasi. transactions with related parties.
e. Lain-lain – neto e. Others - net
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Pendapatan administrasi
akseptasi 320.302 266.025 Acceptance administration income
Komisi asuransi 263.666 223.007 Insurance commissions
Penerimaan kembali piutang yang Recovery from writen off
telah dihapusbukukan 179.645 152.667 receivables
Pendapatan penalti 148.794 134.027 Penalty income
Pendapatan penagihan 40.134 49.206 Collection income
Lain-lain 129.207 78.601 Others
1.081.748 903.533
Pihak berelasi Related parties
Pendapatan administrasi
akseptasi 8 88 Acceptance administration income
Pendapatan jasa pengurusan Financing management
pembiayaan - 476 services income
8 564
1.081.756 904.097
95
Page 399
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
21. PENDAPATAN (lanjutan) 21. REVENUE (continued)
e. Lain-lain – neto (lanjutan) e. Others – net (continued)
Komisi asuransi merupakan komisi yang diterima Insurance commissions represent
dari perusahaan asuransi terkait penutupan commissions from insurance companies in
asuransi atas kegiatan pembiayaan konsumen. relation to insurance coverage for consumer
Pendapatan administrasi akseptasi merupakan financing activities. Acceptance administration
pendapatan yang diterima Perseroan income represents income received by the
sehubungan dengan kepengurusan administrasi Company in relation to handling the
penerimaan asuransi. Utang kepada administrative insurance acceptance. The
perusahaan asuransi dicatat sebagai utang related payables to insurance companies are
usaha di laporan posisi keuangan (lihat recorded as trade payables in the statement of
Catatan 12). financial position (refer to Note 12).
Lain-lain merupakan pendapatan dari Others represent income for refund of
pengembalian premi asuransi atas kendaraan insurance premium for the auctioned vehicles,
yang telah dilelang, administrasi dari administration from auction registration, and
pendaftaran lelang, dan administrasi dari administration from installment payment via
pembayaran angsuran melalui loket payment point.
pembayaran.
Lihat Catatan 26c untuk rincian saldo dan Refer to Note 26c for details of balances and
transaksi dengan pihak berelasi. transactions with related parties.
22. BEBAN KEUANGAN 22. FINANCE CHARGES
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Bunga pinjaman yang diterima 921.592 683.340 Interest on borrowings
Bunga utang obligasi 354.777 397.921 Interest on bonds payable
Administrasi bank dan provisi bank 67.902 59.561 Bank administration and bank provision
Amortisasi biaya emisi Amortization of bonds payable
Utang obligasi (lihat Catatan 17) 3.716 3.614 issuance cost (refer to Note 17)
Laba (rugi) selisih kurs 591 (166) Forex gain (loss)
Lain-lain 2.584 3.936 Others
1.351.162 1.148.206
Pihak berelasi Related parties
Bunga pinjaman yang diterima 156.527 98.974 Interest on borrowings
Bunga liabilitas sewa 2.476 2.392 Interest on lease liabilities
159.003 101.366
1.510.165 1.249.572
Lihat Catatan 26d untuk rincian saldo dan transaksi Refer to Note 26d for details of balances and
pihak berelasi. transactions with related parties.
96
Page 400
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
23. BEBAN GAJI DAN TUNJANGAN 23. SALARIES AND BENEFITS EXPENSES
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pihak ketiga Third parties
Gaji dan tunjangan 698.736 741.543 Salaries and allowances
Imbalan pasca kerja karyawan 62.841 49.597 Post employment benefits
Biaya pesangon 5.348 10.029 Termination expense
Biaya imbalan jangka panjang lainnya 6.263 - Other long-term benefits
773.188 801.169
Pihak berelasi Related parties
Gaji dan tunjangan 19.653 16.723 Salaries and allowances
Tantiem 9.353 5.514 Tantiem
29.006 22.237
802.194 823.406
Lihat Catatan 26d untuk rincian saldo dan transaksi Refer to Note 26d for details of balances and
pihak berelasi. transactions with related parties.
24. BEBAN UMUM DAN ADMINISTRASI 24. GENERAL AND ADMINISTRATIVE EXPENSES
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended December
2023 2022
Pihak ketiga Third parties
Biaya penagihan 112.067 112.693 Collection fee
Penyusutan aset tetap Depreciation of fixed assets
(lihat Catatan 10) 41.383 34.582 (refer to Note 10)
Perbaikan dan pemeliharaan 31.421 24.617 Repairs and maintenance
Penyusutan aset hak guna Depreciation of right-of-use assets
(lihat Catatan 10) 26.722 21.544 (refer to Note 10)
Jasa pihak ketiga 20.954 23.595 Third parties service
Perjalanan dinas 19.334 13.224 Travelling
Komunikasi 15.192 14.267 Communications
Iuran OJK 10.710 10.731 OJK fees
Keamanan 9.317 9.013 Security
Rekrutmen dan pelatihan 7.826 11.918 Recruitment and training
Jamuan bisnis 7.804 5.190 Corporate entertainment
Listrik dan air 6.947 6.105 Utilities
Jasa profesional 5.973 7.512 Professional fees
Alat tulis dan cetakan 5.613 4.829 Stationaries and printings
Sewa 3.252 3.368 Rent
Lain-lain 18.097 18.521 Others
Total 342.612 321.709 Total
Pihak berelasi Related parties
Sewa 7.224 5.727 Rent
Total 349.836 327.436 Total
Lain-lain merupakan beban perijinan, piknik Others represent legal, corporate event,
perayaan, iklan, marketing, asuransi, sumbangan, advertising, marketing, insurance expenses,
publikasi, ekspedisi, koran dan majalah. donation, publication, expedition, newspaper and
magazine.
97
Page 401
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
25. LABA PER SAHAM 25. EARNINGS PER SHARE
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Laba tahun berjalan 1.161.101 750.213 Income for the year
Number of ordinary shares
Jumlah saham biasa yang beredar outstanding (in thousands)
(dalam ribuan) (lihat Catatan 19) 2.500.000 2.500.000 (refer to Note 19)
Laba per saham dasar Basic earnings per share
(nilai penuh) 464 300 (full amount)
26. SALDO DAN TRANSAKSI DENGAN PIHAK 26. BALANCES AND TRANSACTIONS WITH
BERELASI RELATED PARTIES
Sifat hubungan dengan pihak berelasi adalah The nature of relationships with related parties are
sebagai berikut: as follows:
Sifat hubungan dengan pihak berelasi/
Pihak berelasi/Related parties Nature of relationship with the related parties
PT Bank Mandiri (Persero) Tbk Pemegang saham mayoritas/Controlling shareholder
PT Tunas Ridean Pemegang saham minoritas/Minority shareholder
PT Bumi Daya Plaza Dikendalikan oleh Dana Pensiun Bank Mandiri/
Controlled by Dana Pensiun Bank Mandiri
PT Bank Mandiri Taspen Dikendalikan oleh PT Bank Mandiri (Persero) Tbk/
Controlled by PT Bank Mandiri (Persero) Tbk
PT AXA Insurance Indonesia (dahulu/formerly Entitas asosiasi PT Bank Mandiri (Persero) Tbk/
PT Mandiri AXA General Insurance) Associate entity of PT Bank Mandiri (Persero) Tbk
PT Bank Syariah Indonesia Tbk Dikendalikan oleh PT Bank Mandiri (Persero) Tbk/
Controlled by PT Bank Mandiri (Persero) Tbk
Dana Pensiun Bank Mandiri Bank Mandiri sebagai pendiri/Bank Mandiri as founder
PT Surya Sudeco Dikendalikan oleh PT Tunas Ridean/
Controlled by PT Tunas Ridean
PT Bank Rakyat Indonesia (Persero) Tbk Badan usaha milik negara/State-owned company
PT Asuransi Jasa Indonesia (Persero) Badan usaha milik negara/State-owned company
PT Sarana Multigriya Finansial (Persero) Badan usaha milik negara/State-owned company
Perum Jaminan Kredit Indonesia Badan usaha milik negara/State-owned company
PT Balai Pustaka (Persero) Badan usaha milik negara/State-owned company
PT Bank Tabungan Negara (Persero) Tbk Badan usaha milik negara/State-owned company
PT Kimia Farma Apotek Entitas anak dari badan usaha milik negara/
Subsidiary of state-owned company
PT Kimia Farma Diagnostika Entitas anak dari badan usaha milik negara/
Subsidiary of state-owned company
PT Kimia Farma Trading & Distribution Entitas anak dari badan usaha milik negara/
Subsidiary of state-owned company
DPLK Bank Rakyat Indonesia Bank Rakyat Indonesia sebagai pendiri/
Bank Rakyat Indonesia as founder
Personil manajemen kunci Grup Personil manajemen kunci Group Bank Mandiri/
Key management personnel of Bank Mandiri Group
Karyawan kunci Anggota Dewan Komisaris dan Direksi/
Members of Boards of Commissioners and Director
98
Page 402
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK 26. BALANCES AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
Pada tanggal 4 Oktober 2023, PT Bank Mandiri As of 4 October 2023, PT Bank Mandiri (Persero)
(Persero) Tbk mengalihkan seluruh saham miliknya Tbk transferred all of its shares in PT AXA
di PT AXA Insurance Indonesia. Insurance Indonesia.
Dalam kegiatan normal usaha, Perseroan melakukan In the normal course of business, the Company
transaksi dengan pihak berelasi karena hubungan enters into certain transactions with parties which
kepemilikan dan/atau kepengurusan. are related to the management and/or owned by the
same ultimate shareholder.
a. Aset a. Assets
31 Desember/ 31 Desember/
December 2023 December 2022
Kas dan setara kas Cash and cash equivalents
Kas pada bank (lihat Catatan 4) Cash in banks (refer to Note 4)
PT Bank Mandiri (Persero) Tbk 781.632 761.003 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 798 264 (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 15 7 (Persero) Tbk
PT Bank Mandiri Taspen 6 7 PT Bank Mandiri Taspen
782.451 761.281
Deposito berjangka Time deposits
PT Bank Mandiri Taspen 50.000 50.000 PT Bank Mandiri Taspen
Piutang pembiayaan konsumen Consumer financing receivable
Personel manajemen kunci Grup 7.109 5.463 Groupʼs key management personnel
PT Kimia Farma Apotek 4.327 2.207 PT Kimia Farma Apotek
PT Kimia Farma Diagnostika 106 173 PT Kimia Farma Diagnostika
PT Kimia Farma Trading PT Kimia Farma Trading
& Distribution - 3 & Distribution
11.542 7.846
Piutang lain-lain Other receivables
(lihat Catatan 8) (refer to Note 8)
PT Bank Mandiri (Persero) Tbk 473.710 385.343 PT Bank Mandiri (Persero) Tbk
Perum Jaminan Kredit Indonesia 70.992 111.636 Perum Jaminan Kredit Indonesia
PT Asuransi Jasa PT Asuransi Jasa
Indonesia (Persero) 2.161 2.161 Indonesia (Persero)
PT Tunas Ridean 620 620 PT Tunas Ridean
PT AXA Insurance Indonesia PT AXA Insurance Indonesia
(dahulu PT Mandiri AXA (formerly PT Mandiri AXA
General Insurance) - 182 General Insurance)
547.483 499.942
Aset lain-lain Other assets
(lihat Catatan 11) (refer to Note 11)
PT Bumi Daya Plaza 765 132 PT Bumi Daya Plaza
PT Bank Mandiri Taspen 137 119 PT Bank Mandiri Taspen
902 251
Total aset Total assets associated with
kepada pihak berelasi 1.392.378 1.319.320 related parties
Persentase terhadap total aset 4,68% 5,56% Percentage to total assets
99
Page 403
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK 26. BALANCES AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
a. Aset (lanjutan) a. Assets (continued)
Piutang lain-lain pihak berelasi kepada PT Tunas Other related party receivables from PT Tunas
Ridean, Perum Jaminan Kredit Indonesia, Ridean, Perum Jaminan Kredit Indonesia,
PT Asuransi Jasa Indonesia (Persero), dan PT Asuransi Jasa Indonesia (Persero), and
PT AXA Insurance Indonesia (dahulu PT Mandiri PT AXA Insurance Indonesia (formerly
AXA General Insurance) terutama berhubungan PT Mandiri AXA General Insurance) are in
dengan transaksi usaha. respect of trade activities.
Piutang lain-lain pihak berelasi kepada PT Bank Other related party receivables from PT Bank
Mandiri (Persero) Tbk merupakan pembayaran Mandiri (Persero) Tbk represent payments to
ke dealer untuk porsi pembiayaan bersama yang dealers for joint financing portion which was
dibayarkan terlebih dahulu oleh Perseroan. paid in advance by the Company.
Manajemen berkeyakinan bahwa cadangan Management believes that the allowance for
kerugian penurunan nilai untuk piutang impairment losses of consumer financing
pembiayaan konsumen dan piutang lain-lain - receivables and other receivables - related
pihak berelasi adalah cukup untuk menutupi party is sufficient to cover any possible losses
kemungkinan kerugian dari tidak tertagihnya from uncollectible accounts.
piutang tersebut.
b. Liabilitas b. Liabilities
31 Desember/ 31 Desember/
December 2023 December 2022
Utang lain-lain (lihat Catatan 13) Other payables (refer to Note 13)
PT Bank Mandiri (Persero) Tbk 24.591 61.985 PT Bank Mandiri (Persero) Tbk
PT Bumi Daya Plaza 23.865 30.137 PT Bumi Daya Plaza
PT Surya Sudeco 8.109 8.374 PT Surya Sudeco
PT Tunas Ridean 240 240 PT Tunas Ridean
56.805 100.736
Beban yang masih
harus dibayar (lihat Catatan 14) Accrued expenses (refer to Note 14)
PT Bank Mandiri (Persero) Tbk 3.381 2.457 PT Bank Mandiri (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 698 1.078 (Persero) Tbk
PT Sarana Multigriya Finansial PT Sarana Multigriya Finansial
(Persero) 393 - (Persero)
4.472 3.535
Pinjaman (lihat Catatan 15) Borrowings (refer to Note 15)
PT Bank Mandiri (Persero) Tbk 2.061.963 1.472.617 PT Bank Mandiri (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 305.556 472.222 (Persero) Tbk
PT Sarana Multigriya Finansial PT Sarana Multigriya Finansial
(Persero) 523.733 - (Persero)
2.891.252 1.944.839
100
Page 404
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK 26. BALANCES AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
b. Liabilitas (lanjutan) b. Liabilities (continued)
31 Desember/ 31 Desember/
December 2023 December 2022
Surat berharga yang diterbitkan Securities issued
DPLK Bank Rakyat Indonesia 250.000 200.000 DPLK Bank Rakyat Indonesia
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 308.000 152.500 (Persero) Tbk
Dana Pensiun Bank Mandiri 110.000 91.000 Dana Pensiun Bank Mandiri
Perum Jaminan Kredit Indonesia 25.000 25.000 Perum Jaminan Kredit Indonesia
693.000 468.500
Total liabilitas kepada pihak Total liabilities associated
berelasi 3.645.529 2.517.610 with related parties
Persentase terhadap total liabilitas 14,19% 12,20% Percentage to total liabilities
Utang lain-lain kepada pihak berelasi terutama Other payables to related parties are mainly in
berhubungan dengan utang angsuran pokok respect of payables related with installments
termasuk bunga kepada pemberi pembiayaan including interest to joint financing principals
bersama. providers.
c. Pendapatan c. Revenue
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pembiayaan konsumen Consumer financing
(lihat Catatan 21a) (refer to Note 21a)
Personil manajemen kunci Grup 512 614 Groupʼs key management personnel
PT Kimia Farma Apotek 267 - PT Kimia Farma Apotek
PT Kimia Farma Diagnostika 28 - PT Kimia Farma Diagnostika
PT Balai Pustaka (Persero) - 153 PT Balai Pustaka (Persero)
807 767
Simpanan Bank (lihat Catatan 21d) Deposit in bank (refer to Note 21d)
PT Bank Mandiri (Persero) Tbk 13.544 12.564 PT Bank Mandiri (Persero) Tbk
PT Bank Mandiri Taspen 2.645 1.964 PT Bank Mandiri Taspen
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 2 2 (Persero) Tbk
16.191 14.530
Lain-lain (lihat Catatan 21e) Others (refer to Note 21e)
PT AXA Insurance Indonesia PT AXA Insurance Indonesia
(dahulu PT Mandiri AXA (formerly PT Mandiri AXA
General Insurance) 8 88 General Insurance)
PT Bank Syariah Indonesia Tbk - 476 PT Bank Syariah Indonesia Tbk
8 564
101
Page 405
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK 26. BALANCES AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
c. Pendapatan (lanjutan) c. Revenue (continued)
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Total pendapatan dari Total revenue associated
pihak berelasi 17.006 15.861 with related parties
Persentase terhadap total
pendapatan 0,36% 0,40% Percentage to total revenue
Pendapatan bunga simpanan bank berkaitan Interest income from deposit in bank to related
dengan penempatan dana kepada pihak berelasi parties has interest rates ranging from 0.00% -
dengan tingkat bunga 0,00% - 5,50% pada tahun 5.50% in 2023 and 2022.
2023 dan 2022.
d. Beban d. Expenses
Tahun yang berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Beban keuangan Financial charges
(lihat Catatan 22) (refer to Note 22)
PT Bank Mandiri (Persero) Tbk 112.682 92.172 PT Bank Mandiri (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 27.104 6.802 (Persero) Tbk
PT Sarana Multigriya Finansial PT Sarana Multigriya Finansial
(Persero) 16.741 - (Persero)
PT Bumi Daya Plaza 1.866 2.143 PT Bumi Daya Plaza
PT Surya Sudeco 610 249 PT Surya Sudeco
159.003 101.366
Beban gaji dan tunjangan Salaries and benefits
(lihat Catatan 23) (refer to Note 23)
Kompensasi Dewan Boards of Commissioners and
Komisaris dan Direksi Directors remuneration
Dewan Komisaris Board of Commissioners
Imbalan kerja jangka pendek: Short-term employee benefits:
Gaji dan tunjangan 5.335 4.593 Salaries and allowances
Tantiem 2.603 1.520 Tantiem
Direksi Directors
Imbalan kerja jangka pendek: Short-term employee benefits:
Gaji dan tunjangan 14.318 12.130 Salaries and allowances
Tantiem 6.750 3.994 Tantiem
29.006 22.237
Beban umum dan administrasi General and administrative expense
(lihat Catatan 24) (refer to Note 24)
PT Bumi Daya Plaza 7.224 5.727 PT Bumi Daya Plaza
Total beban kepada pihak Total expenses associated
berelasi 195.233 129.330 with related parties
Persentase terhadap total beban 5,99% 4,36% Percentage to total expenses
102
Page 406
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO 27. RISK MANAGEMENT
Pendahuluan dan gambaran umum Introduction and overview
Perseroan memiliki eksposur terhadap risiko-risiko The Company has exposure to the following risks:
sebagai berikut:
Risiko pasar Market risk
Risiko kredit Credit risk
Risiko likuiditas Liquidity risk
Risiko operasional Operational risk
Kerangka manajemen risiko Risk management framework
Konsep manajemen risiko Perseroan adalah The concept of risk management of the Company
mengacu dari konsep Enterprise Risk Management refers to Enterprise Risk Management (ERM)
(ERM) yang digunakan oleh induk entitas Perseroan implemented by PT Bank Mandiri (Persero) Tbk
yaitu PT Bank Mandiri (Persero) Tbk yang (parent company) which was adopted to the needs
disesuaikan dengan kebutuhan bisnis dan of the business and operations of the Company.
operasional Perseroan. ERM adalah sebuah proses ERM is an inherent business risk management
pengelolaan risiko yang melekat dalam proses bisnis process in the Companyʼs business process, which
Perseroan, artinya pengelolaan risiko menjadi bagian means, risk management becomes part of daily
yang menyatu dalam pengambilan keputusan bisnis business decision making. By using ERM, the
Perseroan sehari-hari. Dengan ERM, Perseroan Company will have systematic and comprehensive
akan memiliki kerangka kerja pengelolaan risiko yang framework for risk management (credit risk, market
sistematis dan menyeluruh (risiko kredit, risiko pasar risk and operational risk) by connecting capital
dan risiko operasional) dengan menghubungkan management and business process with the
pengelolaan modal dan proses bisnis dengan risiko encountered risk as whole. This year is a
yang dihadapi secara utuh. Tahun ini merupakan continuation from previous years in terms of
kelanjutan dari tahun-tahun sebelumnya terkait “Implementation of Consolidated Risk Management
dengan “Penerapan Manajemen Risiko secara For Bankʼs Controlling Subsidiary Companies”,
Konsolidasi bagi Bank yang Melakukan which is implemented by the Company in its
Pengendalian terhadap Entitas Anak”, yang capacity as the Subsidiary of
dilaksanakan Perseroan dalam kapasitasnya sebagai PT Bank Mandiri (Persero) Tbk, the controlling
Entitas Anak dari PT Bank Mandiri (Persero) Tbk, shareholder of the Company.
pemegang saham pengendali Perseroan.
Kerangka pengelolaan risiko ini mengacu pada This risk management framework refers to Bank
Peraturan Bank Indonesia (PBI) No. 5/8/PBI/2003 Indonesia Regulation (PBI) No 5/8/PBI/2003 dated
tanggal 19 Mei 2003 tentang Penerapan Manajemen 19 May 2003 concerning the Application of Risk
Risiko bagi Bank Umum, sebagaimana telah diubah Management for Commercial Bank as amended by
dengan PBI No. 11/25/PBI/2009 tanggal 1 Juli 2009 PBI No.11/25/PBI/2009 dated on 1 July 2009
tentang Perubahan atas Peraturan Bank Indonesia concerning the Amendment on Bank Indonesia
Nomor 5/8/PBI/2003 tentang Penerapan Manajemen Regulation No. 5/8/PBI/2003 concerning the
Risiko bagi Bank Umum. Application of Risk Management for Commercial
Bank.
Kerangka ini tercantum dalam Kebijakan Manajemen This framework is included in the Risk Management
Risiko Bank Mandiri (KMRBM) agar sejalan dengan Policy of Bank Mandiri (KMRBM) in line with the
rencana penerapan Basel II Accord secara bertahap plan to apply Basel II Accord gradually in Indonesia.
di Indonesia. Dalam kerangka pengelolaan risiko Within this risk management framework, the
tersebut diatur berbagai kebijakan agar manajemen Company set up a range of policies in order for risk
risiko berfungsi sebagai business enabler sehingga management to function as a business enabler so
bisnis dapat tetap tumbuh dalam koridor prinsip that business can still grow within the corridor of
kehati-hatian dengan menerapkan proses prudential principle by applying the ideal risk
manajemen risiko yang ideal (identifikasi - management process (risk identification -
pengukuran - pemantauan - pengendalian risiko) measurement - monitoring - management of risk) at
pada semua level organisasi. all levels of the organization.
103
Page 407
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Lebih lanjut, kemitraan antara Perseroan dengan Further, the partnership between the Company and
Entitas Induk merupakan hal yang sangat penting, the parent company is a very important thing
mengingat keduanya menghadapi tantangan regional considering both have to face the same regional
dan global yang sama dalam mengelola and global challenge in managing fast business
pertumbuhan bisnis yang cepat dan dalam suasana growth and strict competition, but at the same time
kompetisi yang ketat, namun pada saat yang the Company must implement such business
bersamaan Perseroan harus tetap mampu practices based on prudential principle.
menyelenggarakan praktik bisnis tersebut
berdasarkan dan mengacu kepada prinsip kehati-
hatian.
Sebagai perusahaan yang bergerak di bidang As a company engaging in financing activities, the
pembiayaan, manajemen Perseroan memiliki Companyʼs management is fully committed to
komitmen penuh untuk menerapkan manajemen implement risk management comprehensively,
risiko secara komprehensif yang secara esensi which essentially covers the adequacy of policies,
mencakup kecukupan kebijakan, prosedur dan procedures and risk management methodology,
metodologi pengelolaan risiko sehingga kegiatan hence, the Company's business activities could
usaha Perseroan tetap dapat terarah dan terkendali remain to be directed and controlled at an
pada batasan risiko yang dapat diterima, serta tetap acceptable risk limit, at the same time the Company
menguntungkan Perseroan. Divisi Manajemen Risiko can still be profitable. Risk Management Division is
yang berperan secara aktif dalam playing an active role in coordinating preventive,
mengkoordinasikan tindakan-tindakan pencegahan, proactive and responsive actions with all
proaktif dan responsif dengan seluruh karyawan dari employees from various levels within the Company
berbagai tingkatan yang ada di dalam Perseroan in order to support the implementation of risk
untuk mendukung penerapan manajemen risiko ini, management, because all divisions of the Company
karena semua bagian di dalam Perseroan masing- will play their respective important roles.
masing akan memainkan peranan penting.
Dalam penerapan manajemen risiko, Perseroan In the implementation of risk management, the
menyadari pentingnya untuk memiliki sebuah Company realizes the importance of having an
mekanisme yang memadai dalam mengakomodasi adequate mechanism to accommodate the risks
risiko-risiko yang dihadapi oleh Perseroan. Perseroan faced by the Company. The Company has a
memiliki suatu mekanisme yang bertumpu pada 4 mechanism that is based upon 4 (four) risk
(empat) pilar manajemen risiko, yang dapat diuraikan management pillars, which could be described as
sebagai berikut: follows:
Pilar 1: Pengawasan Aktif Dewan Komisaris dan Pillar 1: Active Supervision by Boards of
Direksi Commissioners and Directors
Pengawasan aktif tersebut tercermin sejak Active supervision is reflected since annual
perencanaan bisnis tahunan, yang mencakup: business planning, which includes:
Menyetujui dan melakukan evaluasi kebijakan Approving and evaluating risk management
manajemen risiko secara berkala; policies on a regular basis;
Melakukan evaluasi dan menyetujui aktivitas yang Evaluating and approving activities that require
memerlukan persetujuan dari Dewan Komisaris approval from the Board of Commissioners or
atau Direksi; Directors;
Menetapkan kebijakan dan strategi manajemen Establishing risk management policies and
risiko termasuk penetapan otoritas dalam strategies, which include determining the
pemberian batasan serta tinjauan atas kualitas authorization in limits and reviewing the quality
portofolio secara berkala; of portfolio on a regular basis;
Terdapatnya Komite Audit dan sebagai organ The presence of the Audit Committee as an
Dewan Komisaris dalam melaksanakan fungsi organ of the Board of Commissioners in carrying
pengawasannya; dan melalui Surat Edaran out their supervisory functions; and through
No. 030/SE/MTF/VI/2012 membentuk Forum Circular Letter No. 030/SE/MTF/VI/2012
Enterprise Risk Management dengan dikoordinir established Enterprise Risk Management
oleh Direktorat Risk Management Forum coordinated by PT Bank Mandiri
PT Bank Mandiri (Persero) Tbk sebagai bentuk (Persero) Tbk Risk Management Directorate in
konsolidasi manajemen risiko. terms of implementation of consolidated risk
management.
104
Page 408
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Dalam penerapan manajemen risiko, Perseroan In the implementation of risk management, the
menyadari pentingnya untuk memiliki sebuah Company realizes the importance of having an
mekanisme yang memadai dalam mengakomodasi adequate mechanism to accommodate the risks
risiko-risiko yang dihadapi oleh Perseroan. Perseroan faced by the Company. The Company has a
memiliki suatu mekanisme yang bertumpu pada 4 mechanism that is based upon 4 (four) risk
(empat) pilar manajemen risiko, yang dapat diuraikan management pillars, which could be described as
sebagai berikut: (lanjutan) follows: (continued)
Pilar 1: Pengawasan Aktif Dewan Komisaris dan Pillar 1: Active Supervision by Boards of
Direksi (lanjutan) Commissioners and Directors (continued)
Kerangka konsolidasi manajemen risiko dengan The consolidated risk management framework with
Entitas Induk dibentuk dengan menempatkan wakil Parent Company is established through assigning
dari Entitas Induk sebagai Kepala Divisi yang representatives from Parent Company as Division
membawahi fungsi manajemen risiko Perseroan. Head of Risk Management. The framework is also
Kerangka tersebut juga dilaksanakan melalui implemented through regular performance
pemeriksaan kinerja secara berkala oleh Entitas assessment by the Parent Company on the
Induk terhadap Perseroan, menyangkut kinerja Company, concerning the financial performance,
keuangan, pengawasan sistem informasi akuntansi, monitoring on accounting information system, as
serta tingkat kesehatan dan profil risiko dari piutang well as the level of soundness and risk profile of the
pembiayaan konsumen. Companyʼs consumer financing receivables.
Pilar 2: Kebijakan dan Penerapan Batasan Pillar 2: Policy and Implementation of Limits
Perseroan menyusun kebijakan-kebijakan The Company develops policies related to risk
manajemen risiko yang diperiksa secara berkala dan management, which are assessed periodically and
selalu disesuaikan dengan keadaan usaha terkini. aligned constantly to fit the most recent business
Kebijakan tersebut diterjemahkan ke dalam Prosedur situation. The policy is translated into Standard
Operasi Standar dan Memo Internal yang Operating Procedures and Internal Memo, which
disosialisasikan kepada seluruh karyawan. are being socialized to all employees. The
Perseroan juga memiliki kebijakan-kebijakan Company also has policies regarding limitation on
mengenai batasan persetujuan/otorisasi untuk approval/authorization for both credit and non-credit
transaksi kredit maupun yang bukan transaksi kredit. transactions.
Salah satu contoh kemitraan dalam pengelolaan An example of partnership between the Company
manajemen risiko antara Perseroan dan Entitas and Parent Company in managing risk is joint
Induk adalah perjanjian kerjasama pemberian kredit financing agreement where the Company acts as
dimana Perseroan bertindak sebagai agen untuk an agent to underwrite, collect and administer
kegiatan seleksi konsumen, penagihan dan consumer financing based on limitation of product
pengurusan dokumen administrasi berdasarkan or pre-determined criteria established by Parent
batasan produk ataupun kriteria yang telah Company. The Companyʼs policy in relation with
ditentukan sebelumnya oleh Entitas Induk. Kebijakan allowance for impairment losses on receivables
penyisihan kerugian penurunan nilai piutang also comply with the Parent Company's policy,
Perseroan juga mengikuti kebijakan penyisihan pada which is in line and in compliance with Indonesian
Entitas Induk yang sejalan dan patuh terhadap Financial Accounting Standards.
Standar Akuntansi Keuangan di Indonesia.
105
Page 409
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Dalam penerapan manajemen risiko, Perseroan In the implementation of risk management, the
menyadari pentingnya untuk memiliki sebuah Company realizes the importance of having an
mekanisme yang memadai dalam mengakomodasi adequate mechanism to accommodate the risks
risiko-risiko yang dihadapi oleh Perseroan. Perseroan faced by the Company. The Company has a
memiliki suatu mekanisme yang bertumpu pada 4 mechanism that is based upon 4 (four) risk
(empat) pilar manajemen risiko, yang dapat diuraikan management pillars, which could be described as
sebagai berikut: (lanjutan) follows: (continued)
Pilar 3: Identifikasi, Pengukuran, Pengawasan Pillar 3: Identification, Measurement, Monitoring
dan Sistem Informasi Manajemen and Management Information System
Perseroan memiliki perangkat untuk The Company has a set of tools to identify, measure
mengidentifikasi, mengukur dan mengawasi risiko and monitor risks, especially credit risk and
terutama risiko kredit dan risiko operasional melalui operational risk through the existing reporting and
mekanisme pelaporan dan sistem informasi management information system mechanism, as
manajemen yang ada serta melalui pertemuan well as through the regular meetings of the
berkala Forum Enterprise Risk Management Companyʼs Enterprise Risk Management Forum
(FERMA) dengan Entitas induk. Selain itu, sistem (FERMA) with Parent Company. In addition, the
teknologi informasi utama Perseroan mampu Companyʼs major information technology system is
menyediakan data/informasi secara cepat dan akurat capable of providing instant and accurate
kepada pihak manajemen, Entitas Induk atau pihak data/information to the management, Parent
ketiga yang terkait lainnya. Company or other related third parties.
Kerangka konsolidasi manajemen risiko dengan The consolidated risk management framework with
Entitas Induk terlaksana melalui penyampaian Parent Company is conducted through the reporting
paparan risiko Perseroan yang ada secara berkala of the Companyʼs risk exposure periodically to
kepada Komite Manajemen Risiko Entitas Induk, Parent Companyʼs Risk Management Committee,
termasuk penyampaian laporan berkala terkait aspek including the periodic reporting in relation to the
kepatuhan, hukum dan lainnya kepada Entitas Induk. compliance, legal and other aspects to the Parent
Company.
Pilar 4: Pengendalian Internal Pillar 4: Internal Control
Perseroan memiliki Divisi Audit Internal yang secara The Company has an Internal Audit Division which
independen melaporkan proses dan hasil independently reports on the process and
pemeriksaannya kepada Direktur Utama dan assessment result to the President Director and
melakukan koordinasi dengan Komite Audit secara regularly coordinate with Audit Committee monthly.
rutin setiap bulan. Akuntabilitas dari Divisi Audit The accountability of the Internal Audit Division
Internal mencakup: includes:
Menyediakan penilaian atas kecukupan dan Providing assessment on the adequacy and
efektivitas dari semua proses yang ada di dalam effectiveness of all existing processes within the
Perseroan; Company;
Melaporkan masalah-masalah penting yang Reporting on important issues related to the
terkait dengan proses pengendalian aktivitas- control process of activities within the Company,
aktivitas didalam Perseroan, termasuk perbaikan including potential improvements to these
yang potensial terhadap proses-proses tersebut; processes; and
dan
Koordinasi dengan fungsi pengendali dan Coordinating with other controlling and
pengawasan lainnya (manajemen risiko, supervisory functions (risk management,
kepatuhan, hukum dan audit eksternal). compliance, legal and external audit).
Kerangka konsolidasi manajemen risiko dengan The consolidated risk management framework with
Entitas Induk juga dicerminkan dengan Parent Company is also reflected in the
dilaksanakannya audit reguler/audit teknologi implementation of regular audit/information
informasi/audit terintegrasi atas unit-unit di Perseroan technology audit/integrated audit on the business
oleh Satuan Kerja Audit Internal (SKAI) Entitas Induk. units in the Company by Parent Companyʼs Internal
Audit Unit (SKAI).
106
Page 410
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Kerangka manajemen risiko (lanjutan) Risk management framework (continued)
Dalam penerapan manajemen risiko, Perseroan In the implementation of risk management, the
menyadari pentingnya untuk memiliki sebuah Company realizes the importance of having an
mekanisme yang memadai dalam mengakomodasi adequate mechanism to accommodate the risks
risiko-risiko yang dihadapi oleh Perseroan. Perseroan faced by the Company. The Company has a
memiliki suatu mekanisme yang bertumpu pada 4 mechanism that is based upon 4 (four) risk
(empat) pilar manajemen risiko, yang dapat diuraikan management pillars, which could be described as
sebagai berikut: (lanjutan) follows: (continued)
Pilar 4: Pengendalian Internal (lanjutan) Pillar 4: Internal Control (continued)
Guna penguatan pengendalian internal dan proses For the purpose of strengthening Internal Control
konsolidasi antara Entitas Induk dengan Entitas and consolidation process between Parent
Anak, Kepala Divisi Internal Audit perseroan diseleksi Company and Subsidiary Company, the Head of
dan ditetapkan oleh Entitas Induk sebelum Internal Audit Division is selected and determined
ditempatkan di Perseroan. by Parent Company before being assigned in the
Company.
Risiko pasar Market risk
Risiko pasar merupakan risiko yang terutama Market risk is the risk which is primarily caused by
disebabkan karena perubahan tingkat suku bunga, the changes in interest rates, exchange rate of
nilai tukar mata uang Rupiah, harga komoditas dan Rupiah currency, commodity prices and the price of
harga modal atau pinjaman, yang dapat membawa capital or loans, in which the Company may be
risiko bagi Perseroan. Dalam perencanaan usaha exposed to. In the Company's business planning,
Perseroan, risiko pasar yang memiliki dampak market risk with direct impact to the Company is in
langsung kepada Perseroan adalah dalam hal terms of interest rates management.
pengelolaan tingkat bunga.
Perubahan tingkat bunga acuan akan menjadi risiko Changes in interest rates would become a risk at
pada saat perubahannya, terutama ketika tingkat the point of change, especially when the interest
bunga dinaikkan, yang menyebabkan kerugian bagi rate increases, which would cause losses to the
Perseroan sehingga dapat menyebabkan risiko kredit Company, hence resulting in increased Company's
Perseroan meningkat. Untuk itu, Perseroan credit risk. Therefore, the Company consistently
menerapkan pengelolaan tingkat bunga tetap secara implements fixed interest rate management by
konsisten dengan menyesuaikan tingkat bunga kredit making adjustments on lending interest rate and
terhadap tingkat bunga pinjaman dan beban dana. cost of funds.
Sumber pendanaan Perseroan yang terbesar berasal The largest source of funding for the Company
dari skema pembiayaan bersama dengan PT Bank comes from a joint financing scheme with PT Bank
Mandiri (Persero) Tbk dengan tingkat bunga tetap Mandiri (Persero) Tbk with fixed interest rate and
dan jangka waktu yang sama dengan piutang same period with the consumer financing
pembiayaan konsumen. receivables.
Perseroan juga menerbitkan obligasi yang sebagian The Companyʼs source of funding is also derived
besar mempunyai jangka waktu yang panjang, yaitu from the issuance of bonds mostly for long-term, i.e.
3 (tiga) - 5 (lima) tahun dengan tingkat bunga tetap for 3 (three) - 5 (five) years, with fixed interest rates
serta sejumlah kecil pinjaman dari bank swasta and as well as a small number of loans from the
nasional dan asing dengan tingkat bunga tetap dan national and foreign private banks with fixed and
mengambang. floating interest rates.
Dengan pola aktivitas usaha yang dijalankan With the pattern of business activity currently
Perseroan saat ini, risiko pasar Perseroan adalah operated by the Company, the market risk of the
minimal. Perseroan tidak mempunyai kegiatan usaha Company is minimal. The Company does not have
pembiayaan konsumen dalam mata uang asing. consumer financing business in foreign currency.
107
Page 411
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko pasar (lanjutan) Market risk (continued)
Tabel berikut menggambarkan rincian aset dan The following tables summarize the Companyʼs
liabilitas keuangan Perseroan yang dikelompokkan financial assets and liabilities categorized by the
menurut mana yang lebih awal antara tanggal earlier of contractual repricing or maturity dates to
repricing atau tanggal jatuh tempo kontraktual untuk see the impact of changes in interest rates (gross):
melihat dampak perubahan tingkat suku bunga
(bruto):
31 Desember/December 2023
Tingkat bunga tetap/Fixed interest rate
Lebih dari
1 tahun
Bunga Lebih dari 3 sampai 2 Tidak
mengambang Kurang dari 1 1 bulan bulan sampai 1 tahun/ Lebih dari dikenakan
<3 bulan/ bulan/Less sampai 3 bulan/ tahun/Over 3 Over 1 2 tahun/ bunga/No
Floating Rate < 3 than 1 month months year to 2 Over 2 interest rate
months 1 month to 3 months to 1 year years years charges Total
Aset keuangan Financial assets
Kas pada bank 833.946 - - - - - - 833.946 Cash in banks
Consumer financing
Piutang pembiayaan konsumen - 887.083 1.645.160 6.683.175 6.635.844 6.858.455 - 22.709.717 receivables
Piutang sewa pembiayaan - 298.722 581.208 2.153.439 1.617.585 765.911 - 5.416.865 Finance lease receivables
Anjak piutang - 650 1.300 5.851 7.802 20.155 - 35.758 Factoring receivables
Piutang lain lain - - - - - - 667.152 667.152 Other receivables
Piutang derivatif - - 28.933 - - - - 28.933 Derivative receivables
Aset lain-lain - - - - - - 49.049 49.049 Other assets
Jumlah aset keuangan 833.946 1.186.455 2.256.601 8.842.465 8.261.231 7.644.521 716.201 29.741.420 Total financial assets
Liabilitas keuangan Financial liabilities
Utang usaha - - - - - - 1.017.137 1.017.137 Trade payables
Utang lain-lain - 166.897 2.407 10.390 13.132 12.247 - 205.073 Other payables
Beban yang masih harus
dibayar - 2.113 259.985 - - - - 262.098 Accrued expenses
Pinjaman yang diterima - 1.206.954 1.576.225 6.614.262 5.999.465 2.699.809 - 18.096.715 Borrowings
Surat berharga yang diterbitkan - - 200.000 1.572.611 1.236.226 2.678.678 - 5.687.515 Securities issued
Jumlah liabilitas keuangan - 1.375.964 2.038.617 8.197.263 7.248.823 5.390.734 1.017.137 25.268.538 Total financial liabilities
Total interest
Jumlah selisih penilaian bunga 833.946 (189.509) 217.984 645.202 1.012.408 2.253.787 (300.936) 4.472.882 repricing gap
31 Desember/December 2022
Tingkat bunga tetap/Fixed interest rate
Lebih dari
1 tahun
Bunga Lebih dari 3 sampai 2 Tidak
mengambang Kurang dari 1 1 bulan bulan sampai 1 tahun/ Lebih dari dikenakan
<3 bulan/ bulan/Less sampai 3 bulan/ tahun/Over 3 Over 1 2 tahun/ bunga/No
Floating Rate < 3 than 1 month months year to 2 Over 2 interest rate
months 1 month to 3 months to 1 year years years charges Total
Aset keuangan Financial assets
Kas pada bank 826.834 - - - - - - 826.834 Cash in banks
Consumer financing
Piutang pembiayaan konsumen - 649.382 1.247.752 5.061.237 5.055.376 4.660.668 - 16.674.415 receivables
Piutang sewa pembiayaan - 288.588 556.039 2.200.168 1.982.951 754.279 - 5.782.025 Finance lease receivables
Anjak piutang - 38.369 4.100 - - - - 42.469 Factoring receivables
Piutang lain lain - - - - - - 589.865 589.865 Other receivables
Piutang derivatif - - 24.534 - - - - 24.534 Derivative receivables
Aset lain-lain - - - - - - 35.184 35.184 Other assets
Jumlah aset keuangan 826.834 976.339 1.832.425 7.261.405 7.038.327 5.414.947 625.049 23.975.326 Total financial assets
Liabilitas keuangan Financial liabilities
Utang usaha - - - - - - 702.291 702.291 Trade payables
Utang lain-lain - 211.292 1.913 8.064 10.100 18.920 - 250.289 Other payables
Beban yang masih harus
dibayar - 1.994 309.628 - - - - 311.622 Accrued expenses
Pinjaman yang diterima - 680.842 1.232.346 5.109.299 5.010.924 2.628.476 - 14.661.887 Borrowings
Surat berharga yang diterbitkan - - - 471.745 1.771.290 2.096.202 - 4.339.237 Securities issued
Jumlah liabilitas keuangan - 894.128 1.543.887 5.589.108 6.792.314 4.743.598 702.291 20.265.326 Total financial liabilities
Total interest
Jumlah selisih penilaian bunga 826.834 82.211 288.538 1.672.297 246.013 671.349 (77.242) 3.710.000 repricing gap
108
Page 412
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko kredit Credit risk
Pengelolaan risiko kredit perseroan diarahkan untuk The Companyʼs credit risk management is directed
meningkatkan keseimbangan antara ekspansi kredit to improve the balance between healthy credit
yang sehat dengan pengelolaan kredit secara expansion with a prudent credit management to
prudent agar terhindar dari penurunan kualitas atau avoid the decline in the quality or being Non
menjadi Non Performing Loan (NPL), serta Performing Loan (NPL), as well as, capital
mengelola penggunaan modal untuk memperoleh management to earn optimal return. It starts from
return yang optimal. Dimulai dari proses awal the process of receiving credit applications
penerimaan aplikasi kredit yang selektif dan ditangani selectively and handling them with prudence
dengan prinsip kehati-hatian, yang mana aplikasi principle, where the credit application would go
kredit akan melalui proses survey dan analisa kredit through survey and credit analysis process before
sebelum disetujui oleh Komite Kredit. Perseroan juga being approved by the Credit Committee. The
menerapkan Pedoman Penerapan Prinsip Mengenal Company also implemented the Manual for
Nasabah yang diatur oleh Peraturan Menteri Implementation of Know Your Customer Principles
Keuangan No.30/PMK.010/2010 tentang Penerapan as regulated in the Ministry of Finance Regulation
Prinsip Mengenal Nasabah bagi Lembaga Keuangan No.30/PMK.010/2010 regarding the
Non Bank dan Peraturan Ketua Bapepam-LK Implementation of Know Your Customer Principles
No.PER-05/BL/2011 tentang Pedoman Penerapan for Non-Banking Financial Institutions and the
Prinsip Mengenal Nasabah bagi Perseroan Chairman of the Capital Market and Financial
Pembiayaan. Institution Supervisory Board (Bapepam-LK)
Regulation No.PER-05/BL/2011 regarding the
Manual for Implementation of Know Your Customer
Principles for Multifinance Companies.
Tahun 2012, Perseroan juga telah menjalankan In 2012, the Company also has implemented down
aturan uang muka kendaraan sesuai dengan payment regulation as regulated in the Ministry of
Peraturan Menteri Keuangan No.43/PMK.010/2012 Finance Regulation No.43/PMK.010/2012
tentang Uang Muka Pembiayaan Konsumen untuk concerning Down Payment for Consumer
kendaraan Bermotor Pada Perusahaan Pembiayaan Financing, and Bank Indonesia Circular Letter
serta Surat Edaran BI No.14/10/DPNP tanggal No.14/10/DPNP dated 15 March 2012 concerning
15 Maret 2012 tentang Penerapan Manajemen Risiko The Application of Bankʼs Risk Management on
pada Bank yang Melakukan Pemberian Kredit Mortgages and Motor Vehicle Credit effective
Pemilikan Rumah dan Kredit Kendaraan Bermotor 15 June 2012.
yang diberlakukan sejak 15 Juni 2012.
109
Page 413
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
Untuk setiap kategori aset keuangan, Perseroan For each financial asset category, the Company
harus mengungkapkan eksposur maksimum should disclose maximum exposure to credit risk
terhadap risiko kredit dan analisa konsentrasi risiko and concentration of credit risk analysis.
kredit.
i. Eksposur maksimum terhadap risiko kredit i. Maximum exposure to credit risk
Nilai tercatat dari aset keuangan Perseroan The carrying amount of the Companyʼs
selain piutang sewa pembiayaan dan piutang financial assets other than finance lease
pembiayaan konsumen menggambarkan receivables and consumer financing
eksposur maksimum atas risiko tersebut. Dalam receivables represent the maximum exposure
hal piutang pembiayaan konsumen dan sewa of credit. In case of consumer financing and
pembiayaan, Perseroan menggunakan agunan finance lease receivables, the Company uses
untuk meminimalkan risiko kredit. Perseroan the collateral to minimize the credit risk. The
menetapkan jenis dan nilai agunan yang diterima Company determined the type and value of
antara lain tanah, bangunan dan Bukti Pemilikan collaterals accepted such as land, buildings,
Kendaraan Bermotor (BPKB) atas kendaraan and Certificate of Ownership of the vehicles
yang dibiayai Perseroan. Apabila terjadi default financed by the Company. In times of default,
(gagal bayar), Perseroan akan menggunakan the Company will use the collateral as the last
agunan tersebut sebagai pilihan terakhir untuk resort in recovering the obligation of the
pemenuhan kewajiban counterparty. counterparty.
Konsentrasi risiko kredit timbul ketika sejumlah Concentrations of credit risk arise when a
pelanggan bergerak dalam aktivitas usaha yang number of customers are engaged in similar
sama atau aktivitas dalam wilayah geografis business activities or activities within the same
yang sama, atau ketika mereka memiliki geographic region, or when they have similar
karakteristik yang sejenis yang akan characteristics that would cause their ability to
menyebabkan kemampuan untuk memenuhi meet contractual obligations to be similarly
kewajiban kontraktualnya sama-sama affected by changes in economic or other
dipengaruhi oleh perubahan kondisi ekonomi conditions.
atau yang lainnya.
Perseroan bergerak di bidang usaha The Company is currently engaged in
pembiayaan konsumen yang pelanggannya consumer financing business in which the
kebanyakan adalah individu dan tidak customers are mainly individuals and they are
terkonsentrasi pada wilayah geografis tertentu. not concentrated in the specific geographic
region.
110
Page 414
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit ii. Concentration of credit risk analysis
Tabel berikut menggambarkan jumlah risiko The following tables set out the total credit risk
kredit dan konsentrasi risiko aset keuangan and risk concentration of financial assets of the
konsumen yang dimiliki Perseroan (bruto): Company (gross):
a. Sektor geografis a. Geographical sector
31 Desember/December 2023
Lainnya/
Jawa Bali Sumatera Kalimantan Sulawesi Others Total
Kas pada bank 832.887 337 377 300 45 833.946 Cash in banks
Piutang pembiayaan Consumer financing
konsumen 13.211.028 3.419.462 3.440.187 2.302.492 336.548 22.709.717 receivables
Piutang sewa pembiayaan 4.765.045 256.861 246.374 123.483 25.102 5.416.865 Finance lease receivables
Anjak piutang 35.758 - - - - 35.758 Factoring receivables
Piutang lain-lain 667.152 - - - - 667.152 Other receivables
Piutang derivatif 28.933 - - - - 28.933 Derivative receivables
Aset lain-lain 917 - 26 34 48.072 49.049 Other assets
19.541.720 3.676.660 3.686.964 2.426.309 409.767 29.741.420
31 Desember/December 2022
Lainnya/
Jawa Bali Sumatera Kalimantan Sulawesi Others Total
Kas pada bank 826.021 318 205 245 45 826.834 Cash in banks
Piutang pembiayaan Consumer financing
konsumen 9.974.420 2.817.338 2.175.095 1.488.157 219.405 16.674.415 receivables
Piutang sewa pembiayaan 5.439.440 144.535 136.227 36.838 24.985 5.782.025 Finance lease receivables
Anjak piutang 42.469 - - - - 42.469 Factoring receivables
Piutang lain-lain 531.987 35.230 6.573 15.108 967 589.865 Other receivables
Piutang derivatif 24.534 - - - - 24.534 Derivative receivables
Aset lain-lain 154 - 41 24 34.965 35.184 Other assets
16.839.025 2.997.421 2.318.141 1.540.372 280.367 23.975.326
b. Sektor industri b. Industry sector
31 Desember/December 2023
Lembaga
Keuangan/
Financial Konsumen/ Lain-lain/
Institution Customers Others Total
Kas pada bank 833.946 - - 833.946 Cash in banks
Piutang pembiayaan Consumer financing
konsumen - 22.709.717 - 22.709.717 receivables
Piutang sewa pembiayaan - 5.416.865 - 5.416.865 Finance lease receivables
Anjak piutang - 35.758 - 35.758 Factoring receivables
Piutang lain-lain - - 667.152 667.152 Other receivables
Piutang derivatif 28.933 - - 28.933 Derivative receivables
Aset lain-lain - - 49.049 49.049 Other assets
862.879 28.162.340 716.201 29.741.420
111
Page 415
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit (lanjutan) ii. Concentration of credit risk analysis
(continued)
b. Sektor industri (lanjutan) b. Industry sector (continued)
31 Desember/December 2022
Lembaga
Keuangan/
Financial Konsumen/ Lain-lain/
Institution Customers Others Total
Kas pada bank 826.834 - - 826.834 Cash in banks
Piutang pembiayaan Consumer financing
konsumen - 16.674.415 - 16.674.415 receivables
Piutang sewa pembiayaan - 5.782.025 - 5.782.025 Finance lease receivables
Anjak piutang - 42.469 - 42.469 Factoring receivables
Piutang lain-lain - - 589.865 589.865 Other receivables
Piutang derivatif 24.534 - - 24.534 Derivative receivables
Aset lain-lain - - 35.184 35.184 Other assets
851.368 22.498.909 625.049 23.975.326
c. Berdasarkan kualitas kredit dari aset c. Based on quality of financial assets
keuangan
Pada tanggal 31 Desember 2023 dan 2022 As of 31 December 2023 and 2022, credit
eksposur risiko kredit atas aset keuangan risk exposure of financial assets is divided
terbagi atas: into:
31 Desember/December 2023
Cadangan
Jatuh tempo kerugian
dan tidak penurunan
Belum jatuh tempo dan mengalami Mengalami nilai/
tidak mengalami penurunan penurunan Allowance for
penurunan nilai/ Neither nilai/Past due nilai/ impairment
past due nor impaired but not impaired Impaired losses Total
High grade Standard grade
Kas pada bank 833.946 - - - - 833.946 Cash in banks
Piutang pembiayaan Consumer financing
konsumen 11.292.015 10.399.885 840.361 177.456 (347.894) 22.361.823 receivables
Piutang sewa pembiayaan 3.048.322 2.137.678 211.784 19.081 (69.293) 5.347.572 Finance lease receivables
Anjak piutang - 35.758 - - (436) 35.322 Factoring receivables
Piutang lain-lain 667.152 - - - (44.298) 622.854 Other receivables
Piutang derivatif 28.933 - - - - 28.933 Derivative receivables
Aset lain-lain 49.049 - - - - 49.049 Other assets
15.919.417 12.573.321 1.052.145 196.537 (461.921) 29.279.499
112
Page 416
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit (lanjutan) ii. Concentration of credit risk analysis
(continued)
c. Berdasarkan kualitas kredit dari aset c. Based on quality of financial assets
keuangan (lanjutan) (continued)
Pada tanggal 31 Desember 2023 dan 2022 As of 31 December 2023 and 2022, credit
eksposur risiko kredit atas aset keuangan risk exposure of financial assets is divided
terbagi atas: (lanjutan) into: (continued)
31 Desember/December 2022
Cadangan
Jatuh tempo kerugian
dan tidak penurunan
Belum jatuh tempo dan mengalami Mengalami nilai/
tidak mengalami penurunan penurunan Allowance for
penurunan nilai/ Neither nilai/Past due nilai/ impairment
past due nor impaired but not impaired Impaired losses Total
High grade Standard grade
Kas pada bank 826.834 - - - - 826.834 Cash in banks
Piutang pembiayaan Consumer financing
konsumen: 7.735.074 8.154.741 650.144 134.456 (333.578) 16.340.837 receivables
Piutang sewa pembiayaan 3.389.312 2.197.104 168.820 26.789 (138.679) 5.643.346 Finance lease receivables
Anjak piutang 42.469 - - - (9.493) 32.976 Factoring receivables
Piutang lain-lain 589.865 - - - (140.425) 449.440 Other receivables
Piutang derivatif 24.534 - - - - 24.534 Derivative receivables
Aset lain-lain 35.184 - - - - 35.184 Other assets
12.643.272 10.351.845 818.964 161.245 (622.175) 23.353.151
Penjelasan pembagian kualitas kredit yang The explanation of loan under quality
diberikan yang belum jatuh tempo dan tidak “neither past due nor impaired” were as
mengalami penurunan nilai: follows:
- High grade, yaitu tidak pernah mengalami - High grade, which never have past
tunggakan sebelumnya. due in the past.
- Standard grade, yaitu pernah mengalami - Standard grade, which have past due
tunggakan sebelumnya, namun sampai in the past but until now there has not
saat ini belum terdapat keterlambatan been overdue in payment of principal
dalam pembayaran cicilan pokok dan and interest.
bunga.
Piutang pembiayaan konsumen dan piutang Consumer financing and finance lease
sewa pembiayaan yang pembayaran receivables which installments are
angsurannya menunggak lebih dari 90 hari overdue for more than 90 days are
diklasifikasikan sebagai aset keuangan classified as impaired financial assets.
yang mengalami penurunan nilai.
Sebagai jaminan atas piutang pembiayaan As collateral to the consumer financing
konsumen yang diberikan, Perseroan receivables, the Company receives the
menerima jaminan dari konsumen berupa Certificates of Ownership (“BPKB”) of the
Bukti Pemilikan Kendaraan Bermotor motor vehicles financed by the Company,
(“BPKB”) atas kendaraan bermotor yang corporate guarantee, and personal
dibiayai Perseroan, jaminan perusahaan guarantee.
dan jaminan pribadi.
113
Page 417
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
ii. Analisis konsentrasi risiko kredit (lanjutan) ii. Concentration of credit risk analysis
(continued)
c. Berdasarkan kualitas kredit dari aset c. Based on quality of financial assets
keuangan (lanjutan) (continued)
Tabel berikut menunjukkan aging analysis The following table summarizes the aging
terhadap piutang pembiayaan konsumen, analysis of consumer financing
piutang sewa pembiayaan dan anjak receivables, finance lease receivables and
piutang yang telah jatuh tempo tetapi tidak factoring receivables which are past due
mengalami penurunan nilai. but not impaired.
31 Desember/December 2023
1-30 hari/days 31-60 hari/days 61-90 hari/days Total
Piutang pembiayaan Consumer financing
konsumen 486.720 189.653 163.988 840.361 receivables
Piutang sewa pembiayaan 106.102 42.875 62.807 211.784 Finance lease receivables
592.822 232.528 226.795 1.052.145
31 Desember/December 2022
1-30 hari/days 31-60 hari/days 61-90 hari/days Total
Piutang pembiayaan Consumer financing
konsumen 391.448 148.889 109.807 650.144 receivables
Piutang sewa pembiayaan 71.895 22.893 74.032 168.820 Finance lease receivables
463.343 171.782 183.839 818.964
Risiko likuiditas Liquidity risk
Risiko likuiditas merupakan risiko, bilamana Liquidity risk is the risk when the Company does not
Perseroan tidak memiliki sumber keuangan yang have sufficient financial resources to discharge its
mencukupi untuk memenuhi kewajibannya yang telah matured liabilities. As the Company receives strong
jatuh tempo. Mengingat Perseroan memperoleh financial support from Parent Company through
dukungan keuangan yang kuat dari Entitas Induk joint financing scheme and borrowings facility, this
melalui skema pembiayaan bersama dan fasilitas risk could be managed properly. The management
pinjaman yang diterima, maka risiko ini dapat dikelola evaluates and monitors cash-in flows and cash-out
dengan baik. Manajemen melakukan evaluasi dan flows to ensure the availability of fund to settle the
pengawasan atas arus kas masuk dan arus kas obligations that are due.
keluar untuk memastikan tersedianya dana untuk
memenuhi kebutuhan pembayaran liabilitas yang
jatuh tempo.
114
Page 418
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko likuiditas (lanjutan) Liquidity risk (continued)
Tabel berikut menggambarkan profil perbedaan jatuh The following table summarizes the maturity gap
tempo atas aset dan liabilitas keuangan Perseroan profile of the Companyʼs financial assets and
pada tanggal 31 Desember 2023 dan 2022: liabilities as of 31 December 2023 and 2022:
31 Desember/December 2023
Tidak
Lebih dari 6 mempunyai
Kurang dari bulan sampai 1 Lebih dari kontrak jatuh
satu bulan/ 1-6 tahun/More than 1 tahun/ tempo/No
Less than bulan/ 6 months up to More than contractual
one month months 1 year 1 year maturity Total
ASET ASSETS
Kas pada bank 833.946 - - - - 833.946 Cash in banks
Piutang pembiayaan konsumen 887.083 4.015.096 4.313.239 13.494.299 - 22.709.717 Consumer financing receivables
Piutang sewa pembiayaan 298.722 1.388.490 1.346.157 2.383.496 - 5.416.865 Finance lease receivables
Anjak piutang 650 3.250 3.901 27.957 - 35.758 Factoring receivables
Piutang lain-lain 596.485 70.667 - - - 667.152 Other receivables
Piutang derivatif - 28.933 - - - 28.933 Derivative receivables
Aset lain-lain 49.049 - - - - 49.049 Other assets
Total aset 2.665.935 5.506.436 5.663.297 15.905.752 - 29.741.420 Total assets
Utang usaha 1.017.137 - - - - 1.017.137 Trade payables
Utang lain-lain 166.897 5.925 6.872 25.379 - 205.073 Other payables
Beban yang
masih harus dibayar 2.113 259.985 - - - 262.098 Accrued expense
Pinjaman yang diterima 1.206.954 3.878.098 4.312.389 8.699.274 - 18.096.715 Borrowings
Surat berharga yang diterbitkan - 1.114.812 657.799 3.914.904 - 5.687.515 Securities issued
Total liabilitas 2.393.101 5.258.820 4.977.060 12.639.557 - 25.268.538 Total liabilities
Total perbedaan jatuh tempo 272.834 247.616 686.237 3.266.195 - 4.472.882 Total maturity gap
31 Desember/December 2022
Tidak
Lebih dari 6 mempunyai
Kurang dari bulan sampai 1 Lebih dari kontrak jatuh
satu bulan/ 1-6 tahun/More than 1 tahun/ tempo/No
Less than bulan/ 6 months up to More than contractual
one month months 1 year 1 year maturity Total
ASET ASSETS
Kas pada bank 826.834 - - - - 826.834 Cash in banks
Piutang pembiayaan konsumen 649.382 3.035.426 3.273.563 9.716.044 - 16.674.415 Consumer financing receivables
Piutang sewa pembiayaan 288.588 1.345.794 1.410.413 2.737.230 - 5.782.025 Finance lease receivables
Anjak piutang 38.369 4.100 - - - 42.469 Factoring receivables
Piutang lain-lain 589.865 - - - - 589.865 Other receivables
Piutang derivatif - 24.534 - - - 24.534 Derivative receivables
Aset lain-lain 35.184 - - - - 35.184 Other assets
Total aset 2.428.222 4.409.854 4.683.976 12.453.274 - 23.975.326 Total assets
Utang usaha 702.291 - - - - 702.291 Trade payables
Utang lain-lain 211.292 4.640 5.337 29.020 - 250.289 Other payables
Beban yang
masih harus dibayar 1.994 309.628 - - - 311.622 Accrued expense
Pinjaman yang diterima 680.842 3.039.916 3.301.729 7.639.400 - 14.661.887 Borrowings
Surat berharga yang diterbitkan - - 471.745 3.867.492 - 4.339.237 Securities issued
Total liabilitas 1.596.419 3.354.184 3.778.811 11.535.912 - 20.265.326 Total liabilities
Total perbedaan jatuh tempo 831.803 1.055.670 905.165 917.362 - 3.710.000 Total maturity gap
115
Page 419
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko likuiditas (lanjutan) Liquidity risk (continued)
Tabel di bawah ini menunjukkan sisa jatuh tempo The tables below show the remaining contractual
kontraktual dari liabilitas keuangan berdasarkan maturities of financial liabilities based on
pada undiscounted cash flows pada tanggal undiscounted cash flows as of 31 December 2023
31 Desember 2023 dan 2022: and 2022:
31 Desember/December 2023
Lebih dari 6
Kurang dari sampai 1 Lebih dari
satu bulan/ tahun/More than 1 tahun/
Less than 1-6 bulan/ 6 months More than
one month months up to 1 year 1 year Total
LIABILITAS LIABILITIES
Utang usaha 1.017.137 - - - 1.017.137 Trade payables
Utang lain-lain 166.897 5.925 6.872 25.379 205.073 Other payables
Beban yang
masih harus dibayar 2.113 259.985 - - 262.098 Accrued expenses
Pinjaman yang diterima 1.299.278 4.274.763 4.658.637 9.149.680 19.382.358 Borrowings
Surat berharga yang diterbitkan 31.036 1.288.053 804.667 4.344.767 6.468.523 Securities issued
Total 2.516.461 5.828.726 5.470.176 13.519.826 27.335.189 Total
31 Desember/December 2022
Lebih dari 6
Kurang dari sampai 1 Lebih dari
satu bulan/ tahun/More than 1 tahun/
Less than 1-6 bulan/ 6 months More than
one month months up to 1 year 1 year Total
LIABILITAS LIABILITIES
Utang usaha 702.291 - - - 702.291 Trade payables
Utang lain-lain 211.292 4.640 5.337 29.020 250.289 Other payables
Beban yang
masih harus dibayar 1.994 309.628 - - 311.622 Accrued expenses
Pinjaman yang diterima 761.126 3.377.690 3.603.499 8.048.751 15.791.066 Borrowings
Surat berharga yang diterbitkan 20.503 144.417 627.224 4.247.677 5.039.821 Securities issued
Total 1.697.206 3.836.375 4.236.060 12.325.448 22.095.089 Total
Risiko operasional Operational risk
Perseroan juga sangat peduli terhadap risiko The Company is also very concerned about the
operasional, karena permasalahan yang timbul operational risk, because the problems arising from
sehubungan dengan risiko ini dapat berdampak dan this risk could bring significant impact and affect the
berpengaruh luas terhadap kinerja Perseroan secara Companyʼs overall performance. In general,
keseluruhan. Secara umum, risiko operasional operational risk is the risk caused by shortcomings
merupakan risiko yang disebabkan karena and failures of internal processes, human errors,
kekurangan dan kegagalan proses internal, system failures or problems that could bring impact
kesalahan manusia, kegagalan sistem ataupun to the Company's operations. The operational risks
permasalahan-permasalahan yang berdampak pada in the Company are handled through 3 (three) steps
operasi Perseroan. Penanganan risiko operasional as follows:
dalam Perseroan dilakukan dengan 3 (tiga) langkah,
yaitu:
- Pengidentifikasian risiko - Risk identification
- Pengukuran risiko - Risk measurement
- Manajemen, pengawasan dan pengendalian - Risk management, supervision and control
risiko
Ketiga langkah di atas merupakan satu kesatuan The three steps above are inseparable unified
proses yang tidak terpisahkan. Langkah di atas telah process. These have been converted to the
diterjemahkan Perseroan dalam mekanisme Company's operational risk management
manajemen risiko operasional sebagai berikut: mechanism as follows:
116
Page 420
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Risiko operasional (lanjutan) Operational risk (continued)
Operational Risk Management System (ORMS) Operational Risk Management System (ORMS)
ORMS merupakan implementasi dari kewajiban ORMS is an implementation of the obligation of the
Perseroan sebagai Perseroan Anak dari PT Bank Company as a Subsidiary of PT Bank Mandiri
Mandiri (Persero) Tbk untuk melakukan (Persero) Tbk to carry out operational risk control by
pengendalian risiko operasional dengan cara recording risk event at the time this risk event
melakukan pencatatan kejadian berisiko pada saat occurred, as regulated in Bank Indonesia
terjadinya kejadian berisiko tersebut, seperti yang Regulation No. 8/6/PBI/2006 dated 30 January
diatur di dalam Peraturan Bank Indonesia 2006 regarding "Implementation of Consolidated
No. 8/6/PBI/2006 tertanggal 30 Januari 2006 perihal Risk Management for Banks Performing Control on
“Penerapan Manajemen Risiko secara Konsolidasi Subsidiary Companies".
bagi Bank yang Melakukan Pengendalian terhadap
Perseroan Anak”.
ORMS adalah sebuah aplikasi intranet berbasis web ORMS is a web-based intranet application that is
yang digunakan sebagai alat bantu pengelola risiko used as an operational risk management tool and is
operasional yang dirancang agar pencatatan designed for recording the operational risk event at
kejadian berisiko dapat dilakukan pada saat the time of occurrence of this risk event and stored
terjadinya kejadian berisiko tersebut dan direkam ke into database. The report stored through the
dalam database. Laporan yang terekam melalui reporting menu would then be transferred to Parent
menu laporan tersebut kemudian akan dipindahkan Companyʼs ORMS application as the form of the
ke dalam aplikasi ORMS Entitas Induk sebagai consolidated Bankʼs Operational Risk Report.
bentuk dari perwujudan konsolidasi Laporan Risiko
Operasional Bank.
Manajemen permodalan Capital management
Tujuan Perseroan dalam mengelola permodalannya The Companyʼs objectives when managing capital
adalah menjaga kelangsungan usaha Perseroan are to safeguard the Companyʼs ability to continue
untuk dapat memberikan hasil kepada pemegang as a going concern in order to provide returns for
saham dan manfaat kepada pemangku kepentingan shareholders and benefits for other stakeholders
lainnya, dan memelihara optimalisasi struktur and to maintain an optimal capital structure to
permodalan untuk mengurangi biaya modal. reduce the cost of capital.
Dalam rangka memelihara atau menyesuaikan In order to maintain or adjust the capital structure,
struktur permodalan, Perseroan dapat menyesuaikan the Company may adjust the amount of dividends
jumlah dividen yang dibayarkan kepada pemegang paid to shareholders, return capital to shareholders
saham, imbalan hasil modal kepada pemegang or issue new shares to reduce debt.
saham atau menerbitkan saham baru untuk
mengurangi pinjaman.
Konsisten dengan pelaku industri lainnya, Perseroan Consistent with other players in the industry, the
memonitor permodalan berdasarkan gearing ratio. Company monitors capital on the basis of the
Rasio ini dihitung dari nilai bersih pinjaman (termasuk gearing ratio. This ratio is calculated as net debt
obligasi dan medium-term notes) dibagi dengan (including bonds payable and medium-term notes)
jumlah modal. Jumlah modal diambil dari ekuitas divided by total capital. Total capital is calculated as
yang tercantum dalam laporan posisi keuangan. equity shown in the statements of financial position.
Dalam mengelola permodalan, Perseroan melakukan In managing capital, the Company conducts
analisa secara bulanan untuk memastikan bahwa monthly analysis to ensure that the Company
Perseroan tetap mengikuti POJK No. complies with the POJK No. 35/POJK.05/2018
35/POJK.05/2018 tanggal 27 Desember 2018 dated 27 December 2018 regarding Finance
tentang Penyelenggaraan Usaha Perusahaan Companies which have some provisions as follows:
Pembiayaan yang diantaranya mengatur ketentuan
sebagai berikut:
117
Page 421
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. MANAJEMEN RISIKO (lanjutan) 27. RISK MANAGEMENT (continued)
Manajemen permodalan (lanjutan) Capital management (continued)
- Modal disetor Perseroan minimum sebesar - The Company's paid-up capital of minimum
Rp100.000; Rp100,000;
- Ekuitas Perseroan minimum sebesar 50,00% dari - The Company's equity amounting to minimum
modal disetor; 50.00% of paid-up capital;
- Jumlah pinjaman yang dimiliki Perseroan - The amount of the Company's loan to equity and
dibandingkan modal sendiri dan utang subordinasi subordinated loan deducted by investment
dikurangi penyertaan (gearing ratio) ditetapkan (gearing ratio) is maximum 10 times, both for off-
setinggi-tingginya 10 kali, baik untuk pinjaman luar shore and on-shore domestic loans.
negeri maupun dalam negeri.
31 Desember/ 31 Desember/
December 2023 December 2022
Pinjaman Debt
Pinjaman yang diterima - neto 18.096.715 14.661.887 Borrowings - net
Obligasi - neto 5.687.515 4.339.237 Bonds payable - net
Total pinjaman 23.784.230 19.001.124 Total debt
Jumlah modal 4.029.660 3.092.825 Total capital
Gearing ratio (tidak diaudit) 5,90 6,14 Gearing ratio (unaudited)
Perseroan senantiasa menjaga jumlah maksimum The Company always maintains the maximum
gearing ratio lebih kecil dari ketentuan yang amount of gearing ratio at lower level than the
ditetapkan melalui analisa alternatif pembiayaan baik applicable regulation by performing an analysis to
melalui pinjaman bank, penerbitan obligasi ataupun determine financing alternative whether through the
optimalisasi dana joint financing. Perseroan juga bank loans, bonds issuance or joint financing fund
menghitung biaya dana dari alternatif pembiayaan optimization. The Company also calculates the cost
yang dipilih untuk memastikan biaya dana tersebut of fund of each financing alternative selected by the
dapat menghasilkan pendapatan maksimum bagi Company to ensure it could generate a maximum
Perseroan. income for the Company.
Informasi lainnya Other information
Berdasarkan Peraturan Otoritas Jasa Keuangan Based on POJK No. 35/POJK.05/2018 dated
No.35/POJK.05/2018 tanggal 27 Desember 2018 27 December 2018 regarding “The Business
tentang ”Penyelenggaraan Usaha Perusahaan Operation of a Multifinance Company”. The
Pembiayaan”. Perseroan telah memenuhi jumlah Company has complied the minimum amount of
minimal ekuitas dan Batas Maksimum Pemberian equity and Limits for Giving Financing. The
Pembiayaan. Perseroan telah menghitung beberapa Company has calculated ratio as follows:
rasio antara lain: (tidak diaudit) (unaudited)
31 Desember/ 31 Desember/
Persyaratan/ December 31, December 31,
Requirements 2023 2022
Gearing ratio max. 10x 5,90x 6,14x Gearing ratio
Rasio permodalan min. 10% 16,21% 21,77% Capital ratio
Rasio ekuitas Equity to fully paid
terhadap modal disetor min.50% 1.611,86% 1.237,13% capital ratio
Rasio Non-Performing Non-Performing
Finance - neto max. 5% 0,48% 0,46% Finance - net
Rasio Non-Performing Non-Performing
Finance - gross - 0,70% 0,72% Finance - gross
Rasio piutang pembiayaan neto Net financing to
terhadap total aset min. 40% 93,33% 92,79% asset ratio
Rasio saldo piutang pembiayaan Net financing receivables
Neto terhadap total pendanaan - 116,65% 115,87% to total funding ratio
Rasio saldo piutang pembiayaan Balance of receivables for investment
investasi dan pembiayaan financing and working capital
modal kerja terhadap total financing to total balance of the
saldo piutang pembiayaan min. 10% 19,77% 26,56% financing receivables
Rasio penyertaan langsung - 0,00% 0,00% Direct participation ratio
118
Page 422
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
28. NILAI WAJAR ASET DAN LIABILITAS 28. FAIR VALUE OF FINANCIAL ASSETS AND
KEUANGAN LIABILITIES
Pada tanggal 31 Desember 2023 dan 2022, nilai As of 31 December 2023 and 2022, the carrying
tercatat dari aset dan liabilitas keuangan Perseroan value of the Companyʼs financial assets and
memiliki nilai yang hampir sama dengan nilai liabilities approximates their fair value except for the
wajarnya kecuali untuk instrumen berikut: following financial instruments:
31 Desember/December 31, 2023
Liabilitas
keuangan
yang diukur
dengan biaya
perolehan
diamortisasi/
Biaya Financial
perolehan Liabilities at Nilai tercatat/
diamortiasi/ amortized carrying Nilai wajar/
Amortized cost cost value fair value
ASET KEUANGAN FINANCIAL ASSETS
Aset yang nilai wajarnya Assets for which
diungkapkan fair value are disclosed
Piutang pembiayaan konsumen 22.361.823 - 22.361.823 22.753.229 Consumer financing receivables
Piutang sewa pembiayaan 5.347.572 - 5.347.572 5.026.849 Finance lease receivables
Anjak piutang 35.322 - 35.322 39.992 Factoring receivables
Total aset keuangan 27.744.717 - 27.744.717 27.820.070 Total financial assets
LIABILITAS KEUANGAN FINANCIAL LIABILITIES
Liabilitas yang nilai wajarnya Liabilities for which
diungkapkan fair value are disclosed
Pinjaman yang diterima - 18.096.715 18.096.715 17.851.258 Borrowings
Surat berharga yang diterbitkan - 5.687.515 5.687.515 5.699.069 Securities issued
Total liabilitas keuangan - 23.784.230 23.784.230 23.550.327 Total financial liabilities
31 Desember/December 31, 2022
Liabilitas
keuangan
yang diukur
dengan biaya
perolehan
diamortisasi/
Biaya Financial
perolehan Liabilities at Nilai tercatat/
diamortiasi/ amortized carrying Nilai wajar/
Amortized cost cost value fair value
ASET KEUANGAN FINANCIAL ASSETS
Aset yang nilai wajarnya Assets for which
diungkapkan fair value are disclosed
Piutang pembiayaan konsumen 16.340.837 - 16.340.837 16.936.440 Consumer financing receivables
Piutang sewa pembiayaan 5.643.346 - 5.643.346 5.480.139 Finance lease receivables
Anjak piutang 32.976 - 32.976 32.875 Factoring receivables
Total aset keuangan 22.017.159 - 22.017.159 22.449.454 Total financial assets
LIABILITAS KEUANGAN FINANCIAL LIABILITIES
Liabilitas yang nilai wajarnya Liabilities for which
diungkapkan fair value are disclosed
Pinjaman yang diterima - 14.661.887 14.661.887 14.461.528 Borrowings
Surat berharga yang diterbitkan - 4.339.237 4.339.237 4.406.897 Securities issued
Total liabilitas keuangan - 19.001.124 19.001.124 18.868.425 Total financial liabilities
119
Page 423
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
28. NILAI WAJAR ASET DAN LIABILITAS 28. FAIR VALUE OF FINANCIAL ASSETS AND
KEUANGAN (lanjutan) LIABILITIES (continued)
Tabel di bawah ini menyajikan analisa atas instrumen The tables below present the analysis of the above
keuangan tersebut sesuai dengan masing-masing financial instruments by the level in the fair value
tingkat dalam hirarki nilai wajar: hierarchy:
31 Desember/December 2023
Nilai tercatat/ Tingkat 1/ Tingkat 2/ Tingkat 3/
Carrying value Level 1 Level 2 Level 3 Total
ASET KEUANGAN FINANCIAL ASSETS
Aset yang nilai wajarnya Assets for which
diungkapkan fair value are disclosed
Piutang pembiayaan konsumen 22.361.823 - 22.753.229 - 22.753.229 Consumer financing receivables
Piutang sewa pembiayaan 5.347.572 - 5.026.849 - 5.026.849 Finance lease receivables
Anjak piutang 35.322 - 39.992 - 39.992 Factoring receivables
Total aset keuangan 27.744.717 - 27.820.070 - 27.820.070 Total financial assets
LIABILITAS KEUANGAN FINANCIAL LIABILITIES
Liabilitas yang nilai wajarnya Liabilities for which
diungkapkan fair value are disclosed
Pinjaman yang diterima 18.096.715 - 17.851.258 - 17.851.258 Borrowings
Surat berharga yang diterbitkan 5.687.515 - 5.699.069 - 5.699.069 Securities issued
Total liabilitas keuangan 23.784.230 - 23.550.327 - 23.550.327 Total financial liabilities
31 Desember/December 2022
Nilai tercatat/ Tingkat 1/ Tingkat 2/ Tingkat 3/
Carrying value Level 1 Level 2 Level 3 Total
ASET KEUANGAN FINANCIAL ASSETS
Aset yang nilai wajarnya Assets for which
diungkapkan fair value are disclosed
Piutang pembiayaan konsumen 16.340.837 - 16.936.440 - 16.936.440 Consumer financing receivables
Piutang sewa pembiayaan 5.643.346 - 5.480.139 - 5.480.139 Finance lease receivables
Anjak piutang 32.976 - 32.875 - 32.875 Factoring receivables
Total aset keuangan 22.017.159 - 22.449.454 - 22.449.454 Total financial assets
LIABILITAS KEUANGAN FINANCIAL LIABILITIES
Liabilitas yang nilai wajarnya Liabilities for which
diungkapkan fair value are disclosed
Pinjaman yang diterima 14.661.887 - 14.461.528 - 14.461.528 Borrowings
Surat berharga yang diterbitkan 4.339.237 - 4.406.897 - 4.406.897 Securities issued
Total liabilitas keuangan 19.001.124 - 18.868.425 - 18.868.425 Total financial liabilities
Metode dan asumsi yang digunakan untuk estimasi The following methods and assumptions are used
nilai wajar adalah sebagai berikut: to estimate the fair values:
Nilai wajar kas dan setara kas, piutang lain-lain, aset The fair value of cash and cash equivalents, other
lain-lain, utang usaha, beban bunga yang masih receivables, other assets, trade payables, accrued
harus dibayar dan utang lain-lain termasuk utang lain- interest expenses and other payables including
lain terkait sewa mendekati nilai tercatat karena other payables related to lease approximate their
jangka waktu jatuh tempo yang singkat atas carrying amounts largely due to short-term
instrumen keuangan tersebut. maturities of these instruments.
Nilai wajar piutang pembiayaan konsumen, piutang The fair value of consumer financing receivables,
sewa pembiayaan, anjak piutang, piutang derivatif, finance lease receivables, factoring receivables,
pinjaman dan surat berharga yang diterbitkan dinilai derivative receivables, borrowings, and securities
menggunakan diskonto arus kas berdasarkan tingkat issued are determined by discounting cash flows
suku bunga pasar pada tanggal 31 Desember 2023 using market interest rate as of 31 December 2023
dan 2022. and 2022.
Perseroan tidak memiliki perpindahan di antara The Company has no transfer between hierarchy
tingkat hirarki pada tahun 2023 dan 2022. level in 2023 and 2022.
120
Page 424
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
29. PERJANJIAN KERJASAMA 29. COOPERATION AGREEMENTS
Pembiayaan Bersama Joint financing
Perseroan mempunyai perjanjian kerjasama The Company entered into a joint financing
pembiayaan Bersama dan Perjanjian Kerjasama agreement and signed a Customer Asset Purchase
Pengambilalihan Piutang Pembiayaan dengan Agreement with PT Bank Mandiri (Persero) Tbk.
PT Bank Mandiri (Persero) Tbk. Berdasarkan Based on the agreements, the amount of funds to
perjanjian, porsi fasilitas pembiayaan yang akan be financed by each party is a minimum of 1.00%
diberikan untuk konsumen dari masing-masing pihak from the Company and a maximum of 99.00% from
adalah minimal 1,00% dari Perseroan dan maksimal joint financing providers.
99,00% dari pemberi pembiayaan bersama.
Perjanjian ini telah mengalami beberapa kali The agreement was amended several times.
perubahan. Perubahan terakhir melalui amandemen The latest of which is the amendment of the Joint
Perjanjian Kerjasama Kendaraan Bermotor dan Financing agreement and a Customer Asset
Perjanjian Kerjasama Pengambilalihan Piutang Purchase Agreement between PT Mandiri Tunas
Pembiayaan antara PT Mandiri Tunas Finance dan Finance and PT Bank Mandiri (Persero) Tbk dated
PT Bank Mandiri (Persero) Tbk tertanggal 31 Maret 31 March 2023, with the total joint financing facility
2023, dengan fasilitas pembiayaan bersama menjadi to Rp24,000,000 with the portion of joint financing
sebesar Rp24.000.000 dengan porsi fasilitas facility minimum of 1.00% from the Company and
pembiayaan bersama sebesar minimal 1,00% dari a maximum of 99.00% from joint financing
Perseroan dan maksimal 99,00% dari pemberi providers. The agreement is valid up to
pembiayaan bersama. Perjanjian ini berlaku sampai 28 February 2024.
dengan tanggal 28 Februari 2024.
Pada tanggal 21 Februari 2022, Perseroan dan On 21 February 2022, the Company and PT Bank
PT Bank Mandiri (Persero) Tbk menandatangani Mandiri (Persero) Tbk signed Joint Financing
Perjanjian Kerjasama Pembiayaan Bersama dalam agreement for financing Passenger Vehicle,
bentuk pembiayaan Passenger Vehicle, Commercial Commercial Vehicle product, and Heavy equipment
Vehicle, dan Heavy Equipment kepada debitur to commercial debtors of Bank Mandiri, with the
komersial Bank Mandiri, dengan fasilitas pembiayaan total joint financing facility amounting to
bersama sebesar Rp3.000.000 dengan porsi fasilitas Rp3,000,000 with the portion of joint financing
pembiayaan bersama sebesar minimal 1,00% dari facility minimum of 1.00% from the Company and a
Perseroan dan maksimal 99,00% dari pemberi maximum of 99.00% from joint financing providers,
pembiayaan bersama, dimana Perseroan whereby the Company bears the credit risk and
menanggung risiko kredit dan menerima pendapatan receives income from debtors in accordance with its
sesuai dengan porsi pembiayaannya. Perjanjian ini financing portion. This agreement has been
telah diperpanjang sampai dengan tanggal extended up to 20 February 2024.
20 Februari 2024.
Pada tanggal 31 Mei 2018 dan 26 Juni 2018, On 31 May 2018 and 26 June 2018, the Company
Perseroan dan PT Bank Mandiri (Persero) Tbk and PT Bank Mandiri (Persero) Tbk entered into
menandatangani Perjanjian Kerjasama a Cooperation Agreement for Acquisition of Finance
Pengambilalihan Piutang Sewa Pembiayaan Lease Receivables, with the total joint financing
dengan total fasilitas pembiayaan bersama akan facility to be determined from time to time based
ditetapkan dari waktu ke waktu berdasarkan on the decision of the authority holder at
keputusan pemegang kewenangan di PT Bank PT Bank Mandiri (Persero) Tbk, whereby the
Mandiri (Persero) Tbk, dimana Perseroan Company bears the credit risk and receives income
menanggung risiko kredit dan menerima pendapatan from debtors in accordance with its financing
sesuai dengan porsi pembiayaannya. portion.
121
Page 425
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
29. PERJANJIAN KERJASAMA (lanjutan) 29. COOPERATION AGREEMENTS (continued)
Pembiayaan Bersama (lanjutan) Joint financing (continued)
Jumlah pembiayaan bersama dengan PT Bank Total joint financing amount with PT Bank Mandiri
Mandiri (Persero) Tbk yang dikelola oleh Perseroan (Persero) Tbk managed by the Company as of
pada tanggal 31 Desember 2023 dan 2022 adalah 31 December 2023 and 2022 are as follows:
sebagai berikut:
31 Desember/ 31 Desember/
December 2023 December 2022
Piutang pembiayaan konsumen 24.870.958 22.526.092 Consumer financing receivables
Piutang sewa pembiayaan 28.009 97.741 Finance lease receivables
Rata - rata jangka pembiayaan (tahun) 3-4 3-4 Average of financing period (years)
Asuransi Insurance
Dalam menjalankan usahanya, Perseroan bekerja In the course of business, the Company entered
sama dengan, PT Asuransi Bina Dana Arta Tbk, into insurance agreements with PT Asuransi Bina
PT Asuransi Central Asia, PT Zurich Asuransi Dana Arta Tbk, PT Asuransi Central Asia,
Indonesia Tbk, PT Asuransi Artarindo, PT Asuransi PT Zurich Asuransi Indonesia Tbk, PT Asuransi
Wahana Tata, PT Asuransi Sahabat Artha Proteksi, Artarindo, PT Asuransi Wahana Tata, PT Asuransi
PT Asuransi Cakrawala Proteksi Indonesia, Sahabat Artha Proteksi, PT Asuransi Cakrawala
PT Asuransi Candi Utama, PT Asuransi Maximus Proteksi Indonesia, PT Asuransi Candi Utama,
Graha Persada Tbk, PT Multi Artha Guna Tbk (MAG), PT Asuransi Maximus Graha Persada Tbk,
PT AXA Insurance Indonesia (dahulu PT Mandiri AXA PT Multi Artha Guna Tbk (MAG), PT AXA Insurance
General Insurance), PT Asuransi Umum Mega, Indonesia (formerly PT Mandiri AXA General
PT Asuransi Mega Pratama, PT MNC Asuransi Insurance), PT Asuransi Umum Mega, PT Asuransi
Indonesia, PT Asuransi Mitra Pelindung Mustika Mega Pratama, PT MNC Asuransi Indonesia,
(MPM), PT Pan Pacific Insurance, PT Asuransi Raksa PT Asuransi Mitra Pelindung Mustika (MPM),
Pratikara, PT Asuransi Ramayana, PT Asuransi PT Pan Pacific Insurance, PT Asuransi Raksa
Sinar Mas, PT Asuransi Staco Mandiri, PT Asuransi Pratikara, PT Asuransi Ramayana, PT Asuransi
Total Bersama (TOB), PT AXA Mandiri Financial Sinar Mas, PT Asuransi Staco Mandiri, PT Asuransi
Services, PT Asuransi Ciputra Indonesia, Total Bersama (TOB), PT Asuransi Tugu Pratama
PT Jamkrida Jakarta, PT Avrist General Insurance, Indonesia Tbk, PT AXA Mandiri Financial Services,
PT Asuransi Jasaraharja Putera, PT Asuransi Harta PT Asuransi Ciputra Indonesia, PT Jamkrida
Aman Pratama Tbk. Jakarta, PT Avrist General Insurance, PT Asuransi
Jasaraharja Putera, PT Asuransi Harta Aman
Pratama Tbk.
122
Page 426
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
29. PERJANJIAN KERJASAMA (lanjutan) 29. COOPERATION AGREEMENTS (continued)
Sewa Gedung Building rental
Pada tanggal 31 Agustus 2009, Perseroan On 31 August 2009, the Company signed an office
menandatangani perjanjian sewa ruangan kantor space rental agreement with PT Bumi Daya Plaza
dengan PT Bumi Daya Plaza yang tidak dapat which is non-cancellable for the period of five years
dibatalkan untuk periode lima tahun. Perjanjian and will expire in 2014. The Company is required to
tersebut akan berakhir pada tahun 2014 dengan pay in advance of Rp507 for each quarter. The tariff
ketentuan pembayaran di muka sebesar Rp507 untuk will be reviewed on annual basis with a maximum
setiap jangka waktu 3 bulan dan akan ditinjau kembali tariff increase of 5.00% per annum.
setiap satu tahun sekali dengan kenaikan tarif
maksimal sebesar 5,00% per tahun.
Perjanjian ini telah mengalami beberapa kali The agreement was amended several times. On 15
perubahan. Pada tanggal 15 Februari 2022, February 2022, the Company is renewing this office
Perseroan memperpanjang perjanjian sewa ruangan space rental agreement for the period of 5 years
kantor ini dengan masa sewa 5 tahun dari 1 Januari from 1 January 2022 until 31 December 2026 in
2022 sampai dengan 31 Desember 2026 dengan which the Company is required to pay in advance
ketentuan pembayaran di muka sebesar Rp12.899 an amount of Rp12,899 for each year. On 1
per tahun. Pada tanggal 1 November 2022, terdapat November 2022, there was an addendum
addendum perjanjian penambahan obyek sewa agreement to addition rental office space with
kantor ini dengan PT Bumi Daya Plaza yang tidak PT Bumi Daya Plaza which is non-cancellable until
dapat dibatalkan. Perjanjian tersebut akan berakhir 31 December 2026 in which the Company is
pada 31 Desember 2026 dengan ketentuan required to pay the addition in advance an amount
tambahan pembayaran di muka sebesar Rp1.793 per of Rp1,793 for each year.
tahun.
Pada tanggal 27 Januari dan 22 Juni 2023, terdapat On 27 January and 22 June 2023, there was an
addendum perjanjian penambahan obyek sewa addendum agreement to addition rental office
kantor ini dengan PT Bumi Daya Plaza yang tidak space with PT Bumi Daya Plaza which is non-
dapat dibatalkan. Perjanjian tersebut akan berakhir cancellable until 31 December 2026 and 31 August
pada 31 Desember 2026 dan 31 Agustus 2026 2026 in which the Company is required to pay the
dengan ketentuan tambahan pembayaran di muka addition in advance an amount of Rp240 and
sebesar masing-masing Rp240 dan Rp2.366 per Rp2,366 for each year, respectively.
tahun.
Program MTF Mantap Combo MTF Mantap Combo Program
Pada tanggal 17 Maret 2020, Perseroan melakukan On 17 March 2020, the Company signed a
penandatanganan perjanjian kerjasama untuk cooperation agreement for the vehicle financing
program pembiayaan kendaraan bagi calon debitur program for prospective borrowers with the work of
dengan pekerjaan aparatur sipil negara (ASN) yang the state civil service (ASN) who will retire
akan memasuki masa pensiun (maksimal 5 tahun (maximum 5 years before retirement age) with a
menjelang usia pensiun) dengan tenor maksimum 10 maximum tenor of 10 (ten) years. The Company
(sepuluh) tahun. Perseroan bertindak sebagai acts as a decision maker for financing applications
pemutus permohonan pembiayaan dan akan and will manage the financing for ASN debtors in
mengelola pembiayaan selama debitur ASN dalam the active period as employees. Then, when
masa aktif sebagai pegawai. Selanjutnya, ketika entering retirement age the financing will be
memasuki usia pensiun pembiayaan akan dialihkan transferred to be managed by PT Bank Mandiri
untuk dikelola oleh PT Bank Mandiri Taspen. Taspen. This agreement is valid until 17 March
Perjanjian ini berlaku sampai tanggal 17 Maret 2025. 2025.
Pada tanggal 31 Desember 2023 dan 2022, saldo On 31 December 2023 and 2022, total consumer
piutang pembiayaan konsumen dari program ini financing receivables through this program
masing-masing adalah sejumlah Rpnihil. amounted to Rpnil, respectively.
123
Page 427
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. SEGMEN OPERASI 30. OPERATING SEGMENT
Segmen operasi Perseroan dibagi berdasarkan The Companyʼs operating segments represent the
kelompok nasabah utama dan produk yang disebut, Companyʼs key customer and product groups
Fleet dan ritel. Dalam menentukan hasil segmen, namely, Fleet and Retail. In determining the
beberapa akun aset dan liabilitas serta pendapatan segment results, certain assets and liabilities and
dan biaya yang terkait diatribusikan ke masing- related revenues and expenses are attributed to
masing segmen berdasarkan kebijakan pelaporan each segment based on internal management
internal manajemen. reporting policies.
Ringkasan berikut menjelaskan operasi masing- The following summary describes the operations in
masing segmen dalam pelaporan segmen each of the Companyʼs reportable segments:
Perseroan:
- Fleet - Fleet
Termasuk dalam pelaporan segmen fleet adalah Included in the fleet segment reporting are
seluruh indikator penilaian segmen operasi yang operating segments assessment indicators
secara nyata dapat diatribusikan sebagai bagian that can actually be attributed as part of
dari pembiayaan untuk nasabah korporasi. financing to corporate customers.
- Ritel - Retail
Termasuk dalam pelaporan segmen ritel adalah Included in the retail segment reporting are
seluruh indikator penilaian segmen operasi yang operating segments assessment indicators that
secara nyata dapat diatribusikan sebagai bagian can actually be attributed as part of consumer
dari pembiayaan konsumen untuk nasabah financing to individual customers at Region I
individu di Regional I dan II (Sumatera), Regional and II (Sumatera), Region III and IV
III dan IV (Jabodetabek), Regional V (Jawa (Jabodetabek), Region V (Jawa Barat), Region
Barat), Regional VI (Jawa Tengah, Yogyakarta), VI (Jawa Tengah, Yogyakarta), Region VII
Regional VII (Jawa Timur, Bali, Kupang, (Jawa Timur, Bali, Kupang, Mataram), Region
Mataram), Regional VIII (Kalimantan) dan VIII (Kalimantan), and Region IX (Sulawesi,
Regional IX (Sulawesi, Ambon, Papua, Sorong). Ambon Papua, Sorong).
- Lain-lain - Others
Termasuk dalam pelaporan segmen lain-lain Included in the other segment reporting is
adalah informasi pelaporan segmen operasi reporting segment information associated with
terkait dengan aktivitas kantor pusat. head office activities.
Informasi mengenai hasil dari masing-masing bisnis Information regarding the results of each reportable
segmen disajikan di bawah ini. Kinerja diukur segment is included below. Performance is
berdasarkan laba segmen sebelum pajak measured based on segment profit before income
penghasilan, sebagaimana dilaporkan dalam laporan tax, as included in the internal management reports
internal manajemen yang ditelaah oleh manajemen that are reviewed by the Companyʼs management.
Perseroan. Keuntungan segmen digunakan untuk Segment profit is used to measure performance of
mengukur kinerja dimana manajemen berkeyakinan that business segment as management believes
bahwa informasi tersebut paling relevan dalam that such information is the most relevant in
mengevaluasi hasil segmen tersebut relatif terhadap evaluating the results of those segments relative to
entitas lain yang beroperasi dalam industri tersebut. other entities that operate within these industries.
124
Page 428
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. SEGMEN OPERASI (lanjutan) 30. OPERATING SEGMENT (continued)
31 Desember/December 2023
Ritel/Retail Fleet/Fleet
Mobil/ Motor/ Mobil/ Motor/ Lain-lain/ Jumlah/ Information by
Informasi segmen usaha Car Motorcycle Car Motorcycle Others Total business segments
Pendapatan Revenue
Pembiayaan konsumen 2.715.052 106 285.142 50 - 3.000.350 Consumer financing
Sewa pembiayaan 206.950 - 445.801 - - 652.751 Financial lease
Anjak piutang - - 909 - - 909 Factoring
Simpanan bank 13.211 - 3.923 - - 17.134 Deposit in bank
Lain-lain - neto 1.011.717 378 69.644 17 - 1.081.756 Others - net
Total pendapatan 3.946.930 484 805.419 67 - 4.752.900 Total revenue
Beban Expenses
Beban keuangan (1.167.286 ) (2 ) (342.866 ) (11 ) - (1.510.165) Financial charges
Beban gaji dan tunjangan (747.809 ) (1.017 ) (53.368 ) - - (802.194) Salaries and benefits
Beban umum dan
administrasi (328.573 ) 273 (21.536 ) - - (349.836) General and administration
Penyisihan kerugian Provision for
penurunan nilai (574.622 ) 3 (24.851 ) (9 ) - (599.479) impairment losses
Total beban (2.818.290 ) (743 ) (442.621 ) (20 ) - (3.261.674) Total expenses
Laba (rugi) sebelum beban Income (loss) before
pajak final dan pajak final tax and income
penghasilan 1.128.640 (259 ) 362.798 47 - 1.491.226 tax expense
Total aset 22.827.261 95 5.142.242 171 1.757.623 29.727.392 Total assets
Total liabilitas 1.358.244 1.866 299.780 247 24.037.595 25.697.732 Total liabilities
31 Desember/December 2022
Ritel/Retail Fleet/Fleet
Mobil/ Motor/ Mobil/ Motor/ Lain-lain/ Jumlah/ Information by
Informasi segmen usaha Car Motorcycle Car Motorcycle Others Total business segments
Pendapatan Revenue
Pembiayaan konsumen 2.179.554 3 257.289 158 - 2.437.004 Consumer financing
Sewa pembiayaan 97.361 - 468.168 - - 565.529 Financial lease
Anjak piutang - - 9.715 - - 9.715 Factoring
Simpanan bank 10.369 - 4.793 1 - 15.163 Deposit in bank
Lain-lain - neto 858.085 503 45.483 26 - 904.097 Others - net
Total pendapatan 3.145.369 506 785.448 185 - 3.931.508 Total revenue
Beban Expenses
Beban keuangan (856.537 ) (4 ) (392.938 ) (93 ) - (1.249.572) Financial charges
Beban gaji dan tunjangan (759.613 ) (1.949 ) (61.844 ) - - (823.406) Salaries and benefits
Beban umum dan
administrasi (303.271 ) (524 ) (23.639 ) (2 ) - (327.436) General and administration
Penyisihan kerugian Provision for
penurunan nilai (443.390 ) - (123.716 ) 6 - (567.100) impairment losses
Total beban (2.362.811 ) (2.477 ) (602.137 ) (89 ) - (2.967.514) Total expenses
Laba (rugi) sebelum beban Income (loss) before
pajak final dan pajak final tax and income
penghasilan 782.558 (1.971 ) 183.311 96 - 963.994 tax expense
Total aset 15.789.086 157 6.505.706 859 1.433.158 23.728.966 Total assets
Total liabilitas 988.344 2.480 328.548 311 19.316.458 20.636.141 Total liabilities
125
Page 429
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. SEGMEN OPERASI (lanjutan) 30. OPERATING SEGMENT (continued)
Informasi wilayah geografis adalah sebagai berikut: Geographical information is as follows:
Tahun yang Berakhir
pada tanggal 31 Desember/
Year ended 31 December
2023 2022
Pendapatan Revenue
Regional I (Sumatera) 313.900 248.816 Region I (Sumatera)
Regional II (Sumatera) 409.839 388.458 Region II (Sumatera)
Regional III (Jabodetabek) 454.742 366.113 Region III (Jabodetabek)
Regional IV (Jabodetabek) 467.826 344.485 Region IV (Jabodetabek)
Regional V (Jawa Barat) 312.041 255.174 Region V (Jawa Barat)
Regional VI Region VI
(Jawa Tengah, Yogyakarta) 320.989 275.078 (Jawa Tengah, Yogyakarta)
Regional VII (Jawa Timur, Region VII (Jawa Timur,
Bali, Kupang, Mataram) 487.843 380.880 Bali, Kupang,Mataram)
Regional VIII (Kalimantan) 683.728 502.048 Region VIII (Kalimantan)
Regional IX (Sulawesi, Region IX (Sulawesi,
Ambon, Papua, Sorong) 496.506 384.823 Ambon, Papua, Sorong)
Fleet 805.486 785.633 Fleet
Total pendapatan 4.752.900 3.931.508 Total revenue
Beban Expenses
Regional I (Sumatera) (216.657) (175.805) Region I (Sumatera)
Regional II (Sumatera) (344.485) (315.651) Region II (Sumatera)
Regional III (Jabodetabek) (359.248) (300.883) Region III (Jabodetabek)
Regional IV (Jabodetabek) (352.327) (273.763) Region IV (Jabodetabek)
Regional V (Jawa Barat) (248.482) (210.096) Region V (Jawa Barat)
Regional VI Region VI
(Jawa Tengah, Yogyakarta) (235.793) (219.808) (Jawa Tengah, Yogyakarta)
Regional VII (Jawa Timur, Region VII (Jawa Timur,
Bali, Kupang, Mataram) (336.991) (301.041) Bali, Kupang, Mataram)
Regional VIII (Kalimantan) (397.296) (295.086) Region VIII (Kalimantan)
Regional IX (Sulawesi, Region IX (Sulawesi,
Ambon, Papua, Sorong) (327.754) (273.155) Ambon, Papua, Sorong)
Fleet (442.641) (602.226) Fleet
Total beban (3.261.674) (2.967.514) Total expenses
Laba sebelum beban pajak Income before final tax and
final dan pajak penghasilan 1.491.226 963.994 income tax expense
126
Page 430
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. SEGMEN OPERASI (lanjutan) 30. OPERATING SEGMENT (continued)
Informasi wilayah geografis adalah sebagai berikut: Geographical information is as follows: (continued)
(lanjutan)
31 Desember/ 31 Desember/
December 2023 December 2022
Aset Assets
Regional I (Sumatera) 1.745.446 1.200.186 Region I (Sumatera)
Regional II (Sumatera) 1.907.732 1.749.192 Region II (Sumatera)
Regional III (Jabodetabek) 3.118.550 2.029.203 Region III (Jabodetabek)
Regional IV (Jabodetabek) 3.345.820 2.178.293 Region IV (Jabodetabek)
Regional V (Jawa Barat) 1.706.071 1.244.413 Region V (Jawa Barat)
Regional VI Region VI
(Jawa Tengah, Yogyakarta) 1.743.026 1.369.361 (Jawa Tengah, Yogyakarta)
Regional VII (Jawa Timur, Region VII (Jawa Timur,
Bali, Kupang, Mataram) 2.841.407 1.968.517 Bali, Kupang,Mataram)
Regional VIII (Kalimantan) 3.650.156 2.291.273 Region VIII (Kalimantan)
Regional IX (Sulawesi, Region IX (Sulawesi,
Ambon, Papua, Sorong) 2.769.148 1.758.805 Ambon, Papua, Sorong)
Fleet 5.142.413 6.506.565 Fleet
Lain-lain 1.757.623 1.433.158 Others
Total aset 29.727.392 23.728.966 Total assets
31 Desember/ 31 Desember/
December 2023 December 2022
Liabilitas Liabilities
Regional I (Sumatera) 142.209 91.668 Region I (Sumatera)
Regional II (Sumatera) 140.667 113.875 Region II (Sumatera)
Regional III (Jabodetabek) 155.489 110.322 Region III (Jabodetabek)
Regional IV (Jabodetabek) 148.257 104.280 Region IV (Jabodetabek)
Regional V (Jawa Barat) 105.293 102.707 Region V (Jawa Barat)
Regional VI Region VI
(Jawa Tengah, Yogyakarta) 132.786 106.334 (Jawa Tengah, Yogyakarta)
Regional VII (Jawa Timur, Region VII (Jawa Timur,
Bali, Kupang,Mataram) 161.395 125.431 Bali, Kupang,Mataram)
Regional VIII (Kalimantan) 242.343 151.042 Region VIII (Kalimantan)
Regional IX (Sulawesi, Region IX (Sulawesi,
Ambon, Papua, Sorong) 131.671 85.165 Ambon, Papua, Sorong)
Fleet 300.027 328.859 Fleet
Lain-lain 24.037.595 19.316.458 Others
Total liabilitas 25.697.732 20.636.141 Total liabilities
31. LIABILITAS KONTINJENSI 31. CONTINGENT LIABILITIES
Pada tanggal 31 Desember 2023 dan 2022 The Company does not have any significant
Perseroan tidak mempunyai liabilitas kontinjensi yang contingent liabilities as of 31 December 2023 and
signifikan. 2022.
127
Page 431
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TAMBAHAN INFORMASI ARUS KAS 32. SUPPLEMENTARY CASH FLOW INFORMATION
Rekonsiliasi liabilitas yang timbul dari aktivitas The reconciliation of liabilities that arise from
pendanaan adalah sebagai berikut: financing activities are as follows:
Perubahan non kas/
Non-cash activities
Pergerakan
valuta asing/
1 Januari/ Arus Kas/ Movement of Lainnya/ 31 Desember/
January 2023 Cash Flows foreign currency Others December 2023
Pinjaman yang diterima 14.693.451 3.447.326 (7.125) - 18.133.652 Borrowings
Surat berharga yang diterbitkan 4.344.905 1.350.845 - - 5.695.750 Securities issued
Liabilitas sewa 40.043 (15.668) - 15.818 40.193 Lease liabilities
Total liabilitas dari Total liabilities from financing
aktivitas pendanaan 19.078.399 4.782.503 (7.125) 15.818 23.869.595 activities
Perubahan nonkas/
Non-cash activities
Pergerakan
valuta asing/
1 Januari/ Arus Kas/ Movement of Lainnya/ 31 Desember/
January 2022 Cash Flows foreign currency Others December 2022
Pinjaman yang diterima 9.590.410 5.071.777 31.264 - 14.693.451 Borrowings
Surat berharga yang diterbitkan 5.498.850 (1.153.945) - - 4.344.905 Securities issued
Liabilitas sewa 34.177 (10.036) - 15.902 40.043 Lease liabilities
Total liabilitas dari Total liabilities from financing
aktivitas pendanaan 15.123.437 3.907.796 31.264 15.902 19.078.399 activities
33. STANDAR AKUNTANSI YANG TELAH DISAHKAN 33. ACCOUNTING STANDARDS ISSUED BUT NOT
NAMUN BELUM BERLAKU EFEKTIF YET EFFECTIVE
Berikut ini adalah beberapa Standar Akuntansi The following are several Financial Accounting
Keuangan, Interpretasi Standar Akuntansi Keuangan Standards, Interpretations of Financial Accounting
dan amandemen yang telah disahkan oleh Dewan Standards and amendment issued by the
Standar Akuntansi Keuangan (DSAK) yang Indonesian Financial Accounting Standards Board
dipandang relevan terhadap pelaporan keuangan (DSAK) that are considered relevant to the financial
Perseroan namun belum berlaku efektif untuk laporan reporting of the Company but are not yet effective
keuangan tahun 2023: for 2023 financial statements:
Amandemen PSAK 73: Liabilitas sewa pada Amendment of PSAK 73: Lease liabilities in a
transaksi jual dan sewa-balik sale and Leaseback
Amandemen ini memberikan penegasan atas This amendment provides affirmation of the
pengukuran selanjutnya untuk aset hak-guna subsequent measurement of lease rights and
dan liabilitas sewa dari transaksi jual dan sewa- liabilities from sale and leaseback
balik. Penjual-penyewa mengukur liabilitas sewa transactions. Lessor-lessee measures lease
dengan suatu cara sehingga penjual-penyewa liability in such a way that the lessor-lessee will
tidak akan mengakui jumlah keuntungan atau not recognize the amount of gain or loss
kerugian yang terkait dengan hak guna atas aset associated with the right of use to the retained
yang masih dipertahankan. asset.
Manajemen masih melakukan persiapan dalam The management intends to adopt these new
penerapan standar baru tersebut yang standards that are considered relevant to the
dipertimbangkan relevan terhadap Perseroan pada Company when they become effective, and the
saat efektif, dan pengaruhnya terhadap posisi dan impact to the financial position and performance of
kinerja keuangan Perseroan masih diestimasi sampai the Company is still being estimated until the report
tanggal laporan keuangan. date.
128
Page 432
The original financial statements included herein are in the
Indonesian language.
PT MANDIRI TUNAS FINANCE PT MANDIRI TUNAS FINANCE
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2023 dan Untuk Tahun As of 31 December 2023
yang Berakhir Pada Tanggal Tersebut and for the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
34. REKLASIFIKASI AKUN 34. RECLASSIFICATION OF ACCOUNTS
Akun tertentu dalam laporan keuangan pada tanggal Certain accounts in the financial statements as of
31 Desember 2022 telah direklasifikasi agar sesuai 31 December 2022 had been reclassified to conform
dengan penyajian akun-akun pada laporan with the presentation of accounts in the financial
keuangan pada tanggal 31 Desember 2023 sebagai statements as of 31 December 2023 as follows:
berikut:
Dilaporkan Dilaporkan
sebelumnya/ saat ini/
As previously Reklasifikasi/ As currently
reported Reclassifications reported
31 Desember 2022 31 December 2022
Laporan Laba Rugi dan Statement of Profit or Loss and
Penghasilan Komprehensif Lain Other Comprehensive Income
Pendapatan Revenue
Lain-lain - neto 751.430 152.667 904.097 Others - net
Beban Expenses
Penyisihan kerugian Provision for
penurunan nilai impairment losses
Pembiayaan konsumen (352.965) (134.639) (487.604) Consumer finance
Sewa pembiayaan (31.528) (18.028) (49.556) Finance lease
35. PENYELESAIAN LAPORAN KEUANGAN 35. COMPLETION OF THE FINANCIAL
STATEMENTS
Manajemen Perseroan bertanggung jawab atas The management of the Company is responsible for
penyusunan dan penyajian wajar laporan keuangan the preparation and fair presentation of these
ini sesuai dengan Standar Akuntansi Keuangan di financial statements in accordance with Indonesian
Indonesia, yang diselesaikan dan disetujui oleh Financial Accounting Standards which were
Direksi Perseroan untuk diterbitkan pada tanggal completed and authorized for issuance by the
22 Januari 2024. Board of Directors on 22 January 2024.
129
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07
Cross Reference to Financial Services Authority
Circular Letter No. 16/SEOJK.04/2021
Notes on the Content of Annual Report Page
1. The Annual Report contains at least information regarding:
a. overview of important financial data; 12
b. stock information (if any); N/A
c. Board of Directors' report; 36
d. Board of Commissioners' report; 32
e. profile of Issuer or Public Company; 50
f. management discussion and analysis; 100 - 141
g. governance of the Issuer or Public Company; 142 - 283
h. social and environmental responsibility of Issuers or Public Companies; 284 - 289
i. audited annual financial reports; and 290 - 432
Statement letter from members of the Board of Directors and members of the Board of
j. 44 - 45
Commissioners regarding their responsibilities for the Annual Report.
2. Description of the Contents of the Annual Report
Summary of Important Financial Data. Summary of Important Financial Data contains financial
information presented in comparative form for 3 (three) financial years or since starting their
a
business if the Issuer or Public Company has been running its business activities for less than 3
(three) years, at least contains:
1) income/sales; 12
2) gross profit; 12
3) profit (loss); 12
total profit (loss) attributable to owners of the parent entity and non-controlling
4) 12
interests;
5) total comprehensive profit (loss). 12
total comprehensive profit (loss) attributable to owners of the parent entity and
6) 12
non-controlling interests;
7) profit (loss) per share; 12
8) total assets; 14
9) total liabilities; 15
10) total equity; 15
11) ratio of profit (loss) to total assets; 17
12) ratio of profit (loss) to equity; 17
13) ratio of profit (loss) to income/sales; 17
14) current ratio; 17
15) liabilities to equity ratio; 17
16) ratio of liabilities to total assets; and 17
information and other financial ratios that are relevant to the Issuer or Public Company
17) 17
and the type of industry.
b. Stock Information
Stock information for Public Companies at least contains:
shares that have been issued for each quarter period presented in comparative form for
1)
the last 2 (two) financial years, at least include:
(a) the number of shares outstanding; 18
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Financial
Statements
Notes on the Content of Annual Report Page
(b) market capitalization based on the price on the Stock Exchange where the shares are
N/A
listed;
(c) the highest, lowest and closing share prices are based on the price on the Stock
N/A
Exchange where the shares are listed; and
(d) trading volume on the Stock Exchange where the shares are listed;
Information in letters b), c), and d) is only disclosed if the shares are listed on the Stock N/A
Exchange;
in the event of a corporate action, such as a stock split, reverse stock, stock dividends,
bonus shares, changes in the nominal value of shares, issuance of convertible securities,
2)
as well as additions and reductions in capital, share information as referred to in number
1) added at least an explanation regarding:
(a) the date of implementation of the corporate action; 18
(b) ratios of stock splits, reverse stock ratios, stock dividends, bonus shares, and changes
18
in the nominal value of shares;
(c) the number of outstanding shares before and after the corporate action; 18
(d) the number of effect conversions executed (if any); and 18
(e) stock prices before and after corporate actions; 18
in the event of a temporary suspension of share trading (suspension) and/or delisting of
shares during the financial year, the Issuer or Public Company explains the reasons for
3) N/A
the temporary suspension of share trading (suspension) and/or delisting of shares
(delisting); and
in the event that the temporary suspension of share trading (suspension) and/or
delisting of shares as referred to in number 3) is still ongoing until the end of the Annual
4) N/A
Report period, the Issuer or Public Company shall explain the actions taken to resolve the
temporary suspension of share trading (suspension). ) and/or delisting of said shares;
c. Board of Directors' Report
The Board of Directors' report contains at least a brief description of:
1) the performance of the Issuer or Public Company, at least includes:
(a) Issuer's or Public Company's strategy and strategic policies; 38
(b) the role of the Board of Directors in formulating the strategy and strategic policies of
38
the Issuer or Public Company;
(c) the process carried out by the Board of Directors to ensure the implementation of the
38
Issuer's or Public Company's strategy;
(d) a comparison between the results achieved and those targeted by the Issuer or Public
38
Company; and
(e) constraints faced by Issuers or Public Companies; 38
2) description of business prospects; 39
3) implementation of Issuer or Public Company governance. 39
d. Report of the Board of Commissioners
The Board of Commissioners' report contains at least a brief description of:
assessment of the Board of Directors' performance regarding the management of the
Issuer or Public Company, including oversight by the Board of Commissioners in the
1) 33
formulation and implementation of the Issuer's or Public Company's strategy carried out
by the Board of Directors;
views on the business prospects of the Issuer or Public Company compiled by the Board
2) 33
of Directors; And
3) views on the implementation of the Issuer's or Public Company's governance. 34
434 2023 Annual Report | PT Mandiri Tunas Finance
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07
Notes on the Content of Annual Report Page
e. Profile of Issuer or Public Company
Profile of Issuer or Public Company at least contains:
name of Issuer or Public Company including if there is a change of name, reasons for the
1) 50
change, and the effective date of the name change in the financial year;
access to Issuers or Public Companies including branch offices or representative offices
2) that enable the public to obtain information about Issuers or Public Companies,
including:
(a) address;
(b) phone number;
(c) e-mail address; and
(d) Website address; 50
3) a brief history of the Issuer or Public Company; 51
the vision and mission of the Issuer or Public Company and corporate culture or
4) 56-57
corporate values;
business activities according to the latest articles of association, business activities
5) 58-59
carried out in the financial year, and types of goods and/or services produced;
the operational area of the Issuer or Public Company; operational area is the area or area
6) of implementing
operational activities or the scope of the company's operational 92-99
activities;
organizational structure of the Issuer or Public Company in a form of chart, at least up to
1 (one) level below the Board of Directors including committees under the Board of
7) 60-61
Directors (if any) and committees under the Board of Commissioners, accompanied by
names and positions;
list of membership of industry associations both on a national and international scale
8) 59
related to the implementation of sustainable finance;
9) profile of the Board of Directors, at least contains:
(a) name and position in accordance with duties and responsibilities; 66-69
(b) recent photograph; 66-69
(c) age; 66-69
(d) nationality; 66-69
(e) history of education and/or certification; 66-69
(f) history of position, including information on:
(1) legal basis for appointment as a member of the Board of Directors of the Issuer or
66-69
Public Company concerned;
(2) concurrent positions, both as members of the Board of Directors, members of the
Board of Commissioners, and/or committee members as well as other positions both
66-69
inside and outside the Issuer or Public Company. In the event that members of the
Board of Directors do not have concurrent positions, then this is disclosed; and
(3) work experience and time period both inside and outside the Issuer or Public
66-69
Company;
(g) affiliation with other members of the Board of Directors, members of the Board of
Commissioners, major and controlling shareholders, either directly or indirectly to individual
66-69
owners, including names of affiliated parties. In the event that members of the Board of Directors
have no affiliation, then the Issuer or Public Company shall disclose this matter; and
(h) changes in the composition of members of the Board of Directors and reasons for the
changes. In the event that there is no change in the composition of the members of the 66-69
Board of Directors, then this matter shall be disclosed;
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Financial
Statements
Notes on the Content of Annual Report Page
10) profile of the Board of Commissioners, at least contains:
(a) name and title; 62-65
(b) recent photograph; 62-65
(c) age; 62-65
(d) nationality; 62-65
(e) educational background and/or certification; 62-65
(f) history of position, including information on: 62-65
(1) the legal basis for appointment as a member of the Board of Commissioners 62-65
(2) the legal basis for the first appointment as a member of the Board of
Commissioners who is an Independent Commissioner of the Issuer or Public Company 62-65
concerned;
(3) concurrent positions, both as members of the Board of Commissioners, members of
the Board of Directors, and/or committee members as well as other positions both
62-65
inside and outside the Issuer or Public Company. In the event that members of the
Board of Commissioners do not have concurrent positions, then this is disclosed; And
(4) work experience and time period both inside and outside the Issuer or Public
62-65
Company;
(g) Affiliate relationships with other members of the Board of Commissioners, major
shareholders and controllers, either directly or indirectly to individual owners, including
62-65
names of affiliated parties; In the event that members of the Board of Commissioners
have no affiliation, the Issuer or Public Company shall disclose this matter;
(h) statement of independence of the Independent Commissioner if the Independent
65
Commissioner has served more than 2 (two) terms; And
(i) changes in the composition of the members of the Board of Commissioners and the
reasons for the changes. In the event that there is no change in the composition of the 62-65
members of the Board of Commissioners, then this matter shall be disclosed;
in the event that there is a change in the composition of the members of the Board of
Directors and/or members of the Board of Commissioners that occurs after the end of the
11) financial year until the deadline for submission of the Annual Report, the composition 165
included in the Annual Report is the last and previous composition of the members of
the Board of Directors and/or the Board of Commissioners;
number of employees according to gender, position, age, educational level, and
12) 74-77
employment status (permanent/contract) in the financial year;
13) Disclosure of information can be presented in tabular form.
(a) shareholders who own 5% (five percent) or more shares of the Issuer or Public
81
Company;
(b) members of the Board of Directors and members of the Board of Commissioners who
own shares of Issuers or Public Companies. In the event that all members of the Board of
81
Directors and/or all members of the Board of Commissioners do not own shares, this
matter shall be disclosed; and
(c) groups of public shareholders, namely groups of shareholders who each own less than
5% (five percent) of the shares of the Issuer or Public Company; 81
The above information can be presented in tabular form.
the percentage of indirect ownership of shares of Issuers or Public Companies by
members of the Board of Directors and members of the Board of Commissioners at the
beginning and end of the financial year, including information regarding shareholders
who are registered in the register of shareholders for the benefit of indirect ownership by
14) 81
members of the Board of Directors and members of the Board of Commissioners; In the
event that all members of the Board of Directors and/or all members of the Board of
Commissioners do not have indirect ownership of the shares of the Issuer or Public
Company, then this matter shall be disclosed.
436 2023 Annual Report | PT Mandiri Tunas Finance
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07
Notes on the Content of Annual Report Page
number of shareholders and percentage of ownership at the end of the financial year
15)
based on classification:
(a) ownership of local institutions; 81
(b) ownership of foreign institutions; 81
(c) local individual ownership; And 81
(d) foreign individual ownership; 81
information regarding the major and controlling shareholders of the Issuer or Public
16) Company, either directly or indirectly, up to the individual owners, presented in the form 81
of a schematic or chart;
names of subsidiaries, associated companies, joint venture companies where the Issuer
or Public Company has joint control (if any), along with the percentage of share
17) ownership, line of business, total assets, and operating status of subsidiaries, associated 87
companies, joint venture companies; For subsidiaries, information regarding the address
of the subsidiary is added.
chronology of share listing, number of shares, nominal value, and offering price from the
beginning of listing to the end of the financial year as well as the name of the Stock
Exchange where the Issuer's or Public Company's shares are listed, including stock splits,
18) N/A
reverse stocks, dividends shares, bonus shares, and changes in the nominal value of
shares, implementation of conversion effects, implementation of additions and
reductions in capital (if any);
information on the listing of securities other than securities as referred to in number 18),
which are not yet due in the financial year, at least contains the name of the securities,
19) 85-86
year of issuance, interest/yield rate, maturity date, offering value, and rating of the
securities (if There is);
information on the use of the services of a public accountant (AP) and a public
20)
accounting firm (KAP) and their network/association/alliance includes:
(a) name and address; 87
(b) assignment period; 87
(c) information on audit and/or non-audit services provided; 87
(d) audit and/or non-audit fee for each assignment given during the financial year; And 87
(e) in the event that the designated AP and KAP and their network/association/alliance
do not provide non-audit services, then the information shall be disclosed; And
87
Disclosure of information on the use of AP and KAP services and their networks/
associations/alliances can be presented in tabular form.
Name and address of capital market supporting institutions and/or professions other
21) 87
than AP and KAP.
f. Management Discussion and Analysis
Management analysis and discussion contains analysis and discussion of financial reports and
other important information with an emphasis on material changes that occurred during the
financial year, which at least contain:
Operational review per operating segment according to the type of industry of the Issuer
1)
or Public Company, at least concerning:
(a) production, which includes its process, capacity and development; 102-115
(b) revenue/sales; And 102-115
(c) profitability; 102-115
Comprehensive financial performance which includes a comparison of financial
2) performance in the last 2 (two) financial years, an explanation of the causes of the
changes and the impact of these changes, at least concerning:
(a) current assets, non-current assets and total assets; 116-117
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Financial
Statements
Notes on the Content of Annual Report Page
(b) short-term liabilities, long-term liabilities and total liabilities; 116-117
(c) equity; 116-117
(d) income/sales, expenses, profit (loss), other comprehensive income, and total
118-119
comprehensive profit (loss); And
(e) cash flow; 120-122
3) Ability to pay debts or obligations by presenting the calculation of the relevant ratio; 123
The collectibility level of the Issuer's or Public Company's receivables by presenting the
4) 125-127
calculation of the relevant ratio;
The capital structure and management policies on the capital structure are accompanied
5) 128-129
by the basis for determining the said policies;
Discussion regarding material commitments for investment in capital goods with
6)
explanations covering at least:
(a) the purpose of the bond; 129
(b) the expected source of funds to fulfill the said commitment; 129
(c) the currency in which it is denominated; And 129
(d) steps planned by the Issuer or Public Company to protect against risks from the
129
related foreign currency position;
Discussion on investment in capital goods realized in the last financial year, at least
7)
includes:
(a) type of investment in capital goods; 129
(b) the purpose of investing in capital goods; And 129
(c) the investment value of capital goods issued; 129
Information and material facts that occurred after the date of the accountant's report (if
8) 130
any);
The business prospects of the Issuer or Public Company are related to the conditions of
9) the industry, general economy and the international market accompanied by quantitative 131
supporting data from credible data sources;
Comparison between targets/projections at the beginning of the financial year with the
10)
results achieved (realization), regarding:
(a) revenue/sales; 130-131
(b) profit (loss); 130-131
(c) capital structure; or 130-131
(d) other matters deemed important by the Issuer or Public Company; 130-131
Targets/projections to be achieved by Issuers or Public Companies for the next 1 (one)
11)
year, regarding:
(a) revenue/sales; 131
(b) profit (loss); 131
(c) capital structure; 131
(d) dividend policy; or 131
(e) other matters deemed important by the Issuer or Public Company; 131
Marketing aspects of Issuer's or Public Company's goods and/or services, at least
12) 103
concerning marketing strategy and market share;
13) Description of dividends for the last 2 (two) financial years (if any), at least:
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(a) dividend policy, including information on the percentage of the amount of dividends
132
distributed to net income;
(b) cash dividend payment date and/or non-cash dividend distribution date; 132
(c) the amount of dividends per share (cash and/or non-cash); And 132
(d) the amount of annual dividends paid;
Disclosure of information can be presented in tabular form. In the event that the Issuer
132
or Public Company has not distributed dividends in the last 2 (two) years, this will be
disclosed.
14) Realization of the use of proceeds from the Public Offering, provided that:
(a) in the event that during the financial year, the Issuer has an obligation to submit a
report on the realization of the use of funds, then the cumulative realization of the use of 133-134
proceeds from the Public Offering is disclosed up to the end of the financial year; And
(b) in the event that there is a change in the use of funds as stipulated in the Financial
Services Authority Regulation concerning Realization Reports on the Use of Proceeds 134
from a Public Offering, the Issuer shall explain the change;
material information (if any), including but not limited to investments, expansions,
divestitures, business mergers/consolidations, acquisitions, debt/capital restructuring,
15)
material transactions, Affiliate transactions, and conflict of interest transactions, which
occurred in the financial year, including among other things :
(a) the date, value and object of the transaction; 134-137
(b) the name of the party making the transaction; 134-137
(c) the nature of the affiliate relationship (if any); 134-137
(d) an explanation regarding the fairness of the transaction; 134-137
(e) fulfillment of related provisions; and 134-137
(f) in the event that there is an affiliation relationship, apart from disclosing the
information referred to in point a) through point e), the Issuer or Public Company also
discloses information:
(1) a statement from the Board of Directors that the affiliated transaction has gone
through adequate procedures to ensure that the affiliated transaction is carried out in
N/A
accordance with generally accepted business practices, among others carried out by
fulfilling the arm's length principle; And
(2) the role of the Board of Commissioners and the audit committee in carrying out
adequate procedures to ensure that affiliated transactions are carried out in
N/A
accordance with generally accepted business practices, among others carried out by
fulfilling the arm's length principle;
(g) for affiliate transactions or material transactions which are business activities carried
out in order to generate business income and are carried out routinely, repeatedly and/
or continuously, an explanation is added that the affiliated transactions or material
transactions are business activities carried out in order to generate income business and
N/A
carried out routinely, repeatedly, and/or continuously;
In the case of affiliated transactions or material transactions referred to have been
disclosed in the annual financial statements, information is added regarding references
to disclosure in the said annual financial statements.
(h) for disclosure of affiliated transactions and/or conflict of interest transactions which
are the result of the implementation of affiliated transactions and/or conflict of interest
transactions that have been approved by independent shareholders, information N/A
regarding the date of the GMS that approves the affiliated transactions and/or conflict of
interest transactions is added;
(i) in the event that there are no affiliated transactions and/or conflict of interest
N/A
transactions, then disclose this matter;
changes in the provisions of laws and regulations that have a significant effect on the
16) 138
Issuer or Public Company and the impact on the financial statements (if any); And
2023 Annual Report | PT Mandiri Tunas Finance 439
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Financial
Statements
Notes on the Content of Annual Report Page
changes in accounting policies, reasons and their impact on the financial statements (if
17) 139
any);
g. Governance of Issuers or Public Companies
The governance of the Issuer or Public Company contains at least a brief description of:
1) GMS, at least contains:
(a) Information regarding GMS resolutions in the financial year and 1 (one) year before
the financial year includes:
(1) GMS resolutions in the financial year and 1 (one) year prior to the financial year
156-159
realized in the financial year; And
(2) GMS decisions in the financial year and 1 (one) year prior to the financial year that
160
have not been realized and the reasons for not being realized;
(b) in the event that an Issuer or Public Company uses an independent party in the
N/A
implementation of the GMS to count the votes, then this matter shall be disclosed;
2) Board of Directors, at least contains:
(a) the duties and responsibilities of each member of the Board of Directors; Information
regarding the duties and responsibilities of each member of the Board of Directors is 171-173
described and can be presented in tabular form.
(b) a statement that the Board of Directors has guidelines or charter of the Board of
171
Directors;
(c) policies and implementation of the frequency of meetings of the Board of Directors,
meetings of the Board of Directors with the Board of Commissioners, and the level of
184
attendance of members of the Board of Directors at these meetings including attendance
at the GMS;
(d) training and/or competency improvement for members of the Board of Directors: 174
(1) policy on training and/or competency improvement for members of the Board of
Directors, including an orientation program for newly appointed members of the Board 174
of Directors (if any); And
(2) training and/or competency improvement attended by members of the Board of
174
Directors in the financial year (if any);
(e) the Board of Directors' assessment of the performance of the committees that support
the implementation of the duties of the Board of Directors in the financial year contains
at least:
(1) performance appraisal procedures; And 177
(2) the criteria used are performance achievements during the financial year,
177
competence and attendance at meetings; And
(f) in the event that the Issuer or Public Company does not have a committee that
supports the implementation of the duties of the Board of Directors, this will be N/A
disclosed.
3) Board of Commissioners, at least contains:
(a) the duties and responsibilities of the Board of Commissioners; 166-167
(b) a statement that the Board of Commissioners has guidelines or charter of the Board
165
of Commissioners;
(c) policies and implementation of the frequency of meetings of the Board of
Commissioners, meetings of the Board of Commissioners with the Board of Directors, and
183
the level of attendance of members of the Board of Commissioners at these meetings
including attendance at the GMS;
(d) training and/or competency improvement for members of the Board of
77
Commissioners:
440 2023 Annual Report | PT Mandiri Tunas Finance
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(1) policy on training and/or competency improvement for members of the Board of
Commissioners, including an orientation program for newly appointed members of the 167
Board of Commissioners (if any); and
(2) training and/or competency improvement attended by members of the Board of
77
Commissioners in the financial year (if any);
(e) assessment of the performance of the Board of Directors and the Board of
Commissioners as well as each member of the Board of Directors and members of the 177
Board of Commissioners, at least contains:
(1) performance appraisal implementation procedures; 177-178
(2) the criteria used are performance achievements during the financial year,
177-178
competence and attendance at meetings; And
(3) the party making the assessment; and 177-178
(f) the Board of Commissioners' assessment of the performance of the committees that
support the implementation of the duties of the Board of Commissioners in the financial 177-178
year includes:
(1) performance appraisal procedures; and 177-178
(2) the criteria used are performance achievements during the financial year, competence
177-178
and attendance at meetings;
Nomination and remuneration for the Board of Directors and Board of Commissioners, at
4)
least contains:
(a) the nomination procedure, including a brief description of the policy and nomination
process for members of the Board of Directors and/or members of the Board of 178
Commissioners; And
(b) procedures and implementation of remuneration for the Board of Directors and Board
of Commissioners, including:
(1) procedures for determining remuneration for the Board of Directors and Board of
180
Commissioners;
(2) remuneration structure for the Board of Directors and Board of Commissioners,
180
such as salaries, allowances, tantiem/bonuses and others; and
(3) the amount of remuneration for each member of the Board of Directors and
182
members of the Board of Commissioners;
Disclosure of information can be presented in tabular form.
Sharia Supervisory Board, for Issuers or Public Companies that carry out business
5) activities based on sharia principles as stated in the articles of association, at least
contains:
(a) name; N/A
(b) the legal basis for the appointment of the Sharia Supervisory Board; N/A
(c) the assignment period of the Sharia Supervisory Board; N/A
(d) duties and responsibilities of the Sharia Supervisory Board; And N/A
(e) the frequency and method of providing advice and suggestions as well as supervising
N/A
the fulfillment of Sharia Principles in the Capital Market to Issuers or Public Companies;
6) Audit Committee, at least contains:
(a) name and position in the membership of the committee; 194-196
2023 Annual Report | PT Mandiri Tunas Finance 441
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Financial
Statements
Notes on the Content of Annual Report Page
(b) age; 194-196
(c) nationality; 194-196
(d) educational history; 194-196
(e) position history, including information on:
(1) the legal basis for appointment as a member of the committee; 194
(2) concurrent positions, both as members of the Board of Commissioners, members of
194-196
the Board of Directors, and/or committee members and other positions (if any); And
(3) work experience and time period both inside and outside the Issuer or Public
194-196
Company;
(f) the period and tenure of the members of the Audit Committee; 331
(g) statement of independence of the Audit Committee; 196
(h) training and/or competency improvement that has been attended in the financial
198
year (if any);
(i) the policy and implementation of the frequency of meetings of the Audit Committee
199
and the level of attendance of members of the Audit Committee in these meetings; And
(j) the implementation of the activities of the Audit Committee in the financial year
199-201
according to what is stated in the Audit Committee guidelines or charter;
Issuer or Public Company nomination and remuneration committee or function, at least
7)
contains:
(a) name and position in the membership of the committee; 201-202
(b) age; 201-202
(c) nationality; 201-202
(d) educational history; 201-202
(e) position history, including information on: 201-202
(1) the legal basis for appointment as a member of the committee; 201-202
(2) concurrent positions, both as members of the Board of Commissioners, members of
201-202
the Board of Directors, and/or committee members and other positions (if any); And
(3) work experience and time period both inside and outside the Issuer or Public
201-202
Company;
(f) period and tenure of committee members; 201-202
(g) statement of committee independence; 202
(h) training and/or competency improvement that has been attended in the financial
204
year (if any);
(i) description of duties and responsibilities; 203
(j) a statement that the committee has guidelines or charters; 202
(k) policies and implementation regarding the frequency of committee meetings and the
204
level of attendance of committee members at those meetings;
(l) a brief description of the committee's activities in the financial year; And 205
(m) in the event that a nomination and remuneration committee is not formed, it is
sufficient for the Issuer or Public Company to disclose the information referred to in N/A
letter i) to letter l) and disclose:
(1) reasons for not forming a committee; And N/A
(2) parties carrying out nomination and remuneration functions; N/A
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Other committees owned by Issuers or Public Companies in order to support the
8) functions and duties of the Board of Directors (if any) and/or committees that support
the functions and duties of the Board of Commissioners, contain at least:
(a) name and position in the membership of the committee; 205
(b) age; 206
(c) nationality; 206
(d) educational history; 206
(e) position history, including information on: 206
(1) the legal basis for appointment as a member of the committee; 206
(2) concurrent positions, both as members of the Board of Commissioners, members of
206
the Board of Directors, and/or committee members and other positions (if any); And
(3) work experience and time period both inside and outside the Issuer or Public
206
Company;
(f) period and tenure of committee members; 206
(g) statement of committee independence; 207
(h) training and/or competency improvement that has been attended in the financial
208
year (if any); And
(i) description of duties and responsibilities; 207-208
(j) a statement that the committee has guidelines or charters; 207
(k) the policy and implementation of the frequency of committee meetings and the level
208-209
of attendance of committee members at these meetings; and
(l) a brief description of the committee's activities in the financial year; 209
9) Corporate Secretary, at least contains:
(a) name; 217
(b) domicile; 217
(c) history of position, including information on:
(1) legal basis for appointment as Corporate Secretary; And 217
(2) work experience and time period both inside and outside the Issuer or Public
217
Company;
(d) educational history; 217
(e) training and/or competency improvement that has been attended in the financial
219
year; And
(f) a brief description of the implementation of the duties of the Corporate Secretary in
219
the financial year;
10) Internal Audit Unit, at least contains:
(a) the name of the head of the Internal Audit Unit; 213
(b) history of position, including information on: 213
(1) legal basis for appointment as head of the Internal Audit Unit; And 213
(2) work experience and time period both inside and outside the Issuer or Public
213
Company;
(c) qualification or certification as an internal audit profession (if any); 213
(d) training and/or competency improvement attended in the financial year; 234-235
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Statements
Notes on the Content of Annual Report Page
(e) the structure and position of the Internal Audit Unit; 232
(f) description of duties and responsibilities; 234
(g) statement that it has guidelines or charter for the Internal Audit Unit; And 233
(h) a brief description of the implementation of the duties of the Internal Audit Unit in
the fiscal year including policies and implementation of the frequency of meetings with 236
the Board of Directors, Board of Commissioners and/or the audit committee;
Description of the internal control system implemented by the Issuer or Public Company,
11)
at least concerning:
(a) financial and operational control, as well as compliance with other laws and
245
regulations; And
(b) review of the effectiveness of the internal control system; 246
(c) statement of the Board of Directors and/or Board of Commissioners regarding the
246
adequacy of the internal control system;
The risk management system implemented by Issuers or Public Companies, at least
12)
regarding:
(a) an overview of the Issuer's or Public Company's risk management system; 237-239
(b) types of risks and how to manage them; 240-242
(c) review of the effectiveness of the Issuer's or Public Company's risk management
242
system; And
(d) a statement from the Board of Directors and/or Board of Commissioners or the audit
242
committee regarding the adequacy of the risk management system;
Legal cases with a material impact faced by Issuers or Public Companies, subsidiaries,
13) members of the Board of Directors and members of the Board of Commissioners (if any),
contain at least:
(a) main case/lawsuit; 247-251
(b) case/lawsuit settlement status; And 247-251
(c) the impact on the condition of the Issuer or Public Company; 247-251
Information on administrative sanctions / imposed on Issuers or Public Companies,
14) members of the Board of Commissioners and Directors, by the Financial Services 251
Authority and other authorities in the financial year (if any);
15) Information regarding the code of ethics of Issuers or Public Companies includes:
(a) the main points of the code of ethics; 257
(b) forms of dissemination of the code of ethics and efforts to enforce them; And 257
(c) a statement that the code of ethics applies to members of the Board of Directors,
257
members of the Board of Commissioners and employees of Issuers or Public Companies;
A brief description of the policy of providing performance-based long-term
compensation to management and/or employees owned by Issuers or Public Companies
(if any), including among others in the form of management stock ownership program
(MSOP) and/or programs share ownership by employees (employee stock ownership
16) 133
program/ESOP);
In the case of providing compensation in the form of a management stock ownership
program (MSOP) and/or an employee stock ownership program (ESOP), the information
disclosed shall contain at least:
444 2023 Annual Report | PT Mandiri Tunas Finance
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Notes on the Content of Annual Report Page
(a) number of shares and/or options; N/A
(b) implementation period; N/A
(c) requirements of eligible employees and/or management; And N/A
(d) exercise price or determination of exercise price N/A
17) Brief description of the information disclosure policy regarding:
(a) share ownership of members of the Board of Directors and members of the Board of
Commissioners no later than 3 (three) working days after the occurrence of ownership or 192
any change in ownership of shares in the Public Company; And
(b) implementation of the said policy; 192
Description of the whistleblowing system at the Issuer or Public Company, at least
18)
contains:
(a) how to submit reports of violations; 260
(b) protection for reporters; 261
(c) complaint handling; 261
(d) the party managing the complaint; and 261
(e) the results of handling complaints, at least include:
(1) the number of complaints received and processed in the financial year; and 261
(2) follow-up of complaints; 261
In the event that an Issuer or Public Company does not have a whistleblowing system,
N/A
then this should be disclosed.
19) Description of the Issuer's or Public Company's anti-corruption policy, at least contains:
(a) programs and procedures implemented to address corruption, kickbacks, fraud,
258
bribery and/or gratuities in Issuers or Public Companies; And
(b) anti-corruption training/socialization for employees of Issuers or Public Companies; 259-260
If the Issuer or Public Company does not have an anti-corruption policy, the reasons for
N/A
not having such a policy will be explained.
Implementation of Public Company Governance Guidelines for Issuers that issue
20)
Equity-Type Securities or Public Companies, includes:
(a) a statement regarding the recommendations that have been implemented; and/or 152
(b) an explanation of recommendations that have not been implemented, accompanied
152
by reasons and alternatives for implementation (if any);
Disclosure of information can be presented in tabular form.
h. Social and Environmental Responsibility of Issuers or Public Companies
The Social and Environmental Responsibility section of the Issuer or Public Company is presented
in the form of a Sustainability Report, which is an integral part of this Annual Report.
i Audited Annual Financial Report
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Financial
Statements
Notes on the Content of Annual Report Page
The annual financial statements included in the Annual Report are prepared in accordance with
Indonesian financial accounting standards and have been audited by a public accountant 290-432
registered with the Financial Services Authority.
The intended annual financial report contains a statement regarding accountability for financial
reports as stipulated in the Financial Services Authority Regulation regarding the responsibility of
the Board of Directors for financial reports or laws and regulations in the capital market sector 293
which regulate periodic reports of securities companies in the event that the Issuer is a securities
company.
Statement of Members of the Board of Directors and Members of the Board of Commissioners
j 44-45
regarding Responsibility for the Annual Report
Statements of members of the Board of Directors and members of the Board of Commissioners
regarding responsibility for the Annual Report are prepared in accordance with the format of
Statement Letters of Members of the Board of Directors and Board of Commissioners regarding 44-45
Responsibility for Annual Reports as listed in the Appendix which is an integral part of this
Financial Services Authority Circular Letter.
446 2023 Annual Report | PT Mandiri Tunas Finance
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07 2023 Annual Report | PT Mandiri Tunas Finance 447
Page 448
2023 Annual Report PT Mandiri Tunas Finance Graha Mandiri Lt. 3A Jl. Imam Bonjol No. 61 Jakarta 10310 Tel. (62-21) 2305608 Fax. (62-21) 2305618
Names mentioned 174 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Mandiri Tunas Finance Annual
p.2
unresolved
org
PT Mandiri Tunas
p.8 ×2
unresolved
org
Financial Services Authority
p.9 ×18
unresolved
org
PT Tunas
p.18 ×5
unresolved
org
Ridean Tbk
p.18
unresolved
org
Indonesia Stock Exchange
p.19 ×14
unresolved
org
PT TUV Nord Indonesia
p.21
unresolved
org
Bank Mandiri Sports Event
p.26 ×2
unresolved
org
Bank Mandiri's Anniversary.
p.27
unresolved
person
B. Perana Citra Ketaren
p.28
unresolved
org
PT Mandiri Tunas Finance Rico Adisurja Setiawan
p.35
unresolved
org
Bank Indonesia
p.37 ×2
unresolved
org
PT Mandiri Tunas Finance Pinohadi G. Sumardi
p.40
unresolved
org
PT Mandiri Tunas Finance We
p.44 ×2
unresolved
org
PT Tunas Financindo Corporation
p.50 ×4
unresolved
org
PT Tunas Financindo Sarana
p.50 ×4
unresolved
org
PT Tunas Ridean
· Company Name
p.50 ×21
unresolved
person
Notary Misahardi Wilamarta
· Notaris
p.50
unresolved
org
Minister of Justice
p.50
unresolved
—
Establishments
p.50
unresolved
—
Bond Listing Market
p.50
unresolved
—
Ticker Code
p.50
unresolved
—
Facebook
p.50
unresolved
—
Instagram
p.50
unresolved
—
Linkedin
p.50
unresolved
—
Whatsapp
p.50
unresolved
—
Youtube
p.50
unresolved
—
Tiktok
p.50
unresolved
—
Care Center
p.50
unresolved
—
Mobile Application
p.50
unresolved
org
PT Tunas Ridean’s
p.51
unresolved
org
PT Pemeringkat Efek Indonesia
p.52 ×2
unresolved
org
PT Tunas Financindo
p.53 ×4
unresolved
org
Financindo Corporation
p.53
unresolved
person
Adam Kasdarmadji S.H.
· Notaris
p.53
unresolved
org
Mandiri (Persero) Tbk.
p.53
unresolved
org
PT Tunas Ridean. Related
p.53
unresolved
org
PT MANDIRI TUNAS FINANCE CORPORATION
p.53
unresolved
org
PT Rapi Utama Indonesia
p.59
unresolved
org
PT Tunas Mobilindo Perkasa
p.63 ×2
unresolved
org
PT Asia Surya Perkasa
p.63 ×2
unresolved
org
PT Tunas Dwipa Matra
p.63 ×4
unresolved
org
PT Rahardja Ekalancar
p.63 ×2
unresolved
org
PT Tunas Asset Sarana
p.63
unresolved
org
PT Surya Mobil Megahtama
p.63
unresolved
org
PT Surya Sudeco
p.63 ×6
unresolved
org
PT Tunas Mobilindo Parama
p.63 ×2
unresolved
org
PT Tunas Andalan Pratama
p.63
unresolved
org
PT Mandiri AXA General Insurance
p.64 ×2
unresolved
org
PT Eflag Solutions Indonesia
p.65
unresolved
—
Pinohadi G. Sumardi Appointment
· President Director
p.67 ×10
unresolved
org
Bank Professional Background Mandiri (Persero) Tbk
p.68 ×2
unresolved
org
PT Bank Mandiri Taspen
p.71 ×2
unresolved
org
PT AXA Mandiri Financial Services
p.71
unresolved
org
II, PT Bank Mandiri
p.71
unresolved
org
Bank Mandiri Singapore
p.71
unresolved
person
Division Head
· President Director
p.73 ×2
unresolved
—
Arif Reza Fahlepi
p.73
unresolved
—
Dadan Hamdhani
p.73
unresolved
—
Arief Aphrian Lambri
p.73
unresolved
—
Rully Rianto F
p.73
unresolved
—
Wicaksono Adi
p.73
unresolved
org
PT Asanka Kreasi Methodology
p.79
unresolved
org
PT Tunas Ridean Information
p.81
unresolved
org
PT Tunas Jardine Cycle
p.82
unresolved
org
PT Tunas Ridean Carriage Ltd
p.82
unresolved
—
Pratama
p.82
unresolved
person
Notary Sutjipto
p.82
unresolved
org
PT Bank Bumi Daya (Persero)
p.82
unresolved
org
PT Bank Dagang Negara (Persero)
p.82
unresolved
org
PT Bank Ekspor Impor (Persero)
p.82
unresolved
org
PT Bank Pembangunan Indonesia (Persero)
p.82
unresolved
person
Arif Budimanta
· Commissioner
p.83
unresolved
—
Rohan Haf
· Director
p.84
unresolved
org
PT Tunas Aset Sarana
p.84
unresolved
org
PT Mitra Asri Pratama
p.84
unresolved
org
PT Mega Armada Sudeco. In
p.84
unresolved
org
PT Tunas Ridean Company Name
p.84
unresolved
person
Anton Setiawan
· President Commissioner
p.85 ×2
unresolved
person
Hong Anton Leoman
· Commissioner
p.85
unresolved
person
Wilfrid Foo Tsu-Jin
· Commissioner
p.85
unresolved
person
Alfredo Chandra
· Commissioner
p.85
unresolved
person
Andrew Ling
· Director
p.85
unresolved
person
Tenny Febyana Halim
· Director
p.85
unresolved
person
Ester Tanudjaja
· Director
p.85
unresolved
org
Young Global Limited
p.87
unresolved
person
Handaja
p.87 ×2
unresolved
—
Period of Assignment
p.88 ×10
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.88
unresolved
org
PT Fitch Rating DBS Bank Tower
p.88
unresolved
org
PT Mandiri Sekuritas Menara Mandiri Tower I
p.89
unresolved
org
PT BRI Danareksa Sekuritas BRI II Building
p.89
unresolved
person
PPAT Ir. Nanette Cahyanie Handari Adi Warsito
p.89 ×2
unresolved
org
BM & Partners
p.89
unresolved
person
Poernomo Idna Yashinta
p.89
unresolved
person
H. Adam Malik
p.94 ×2
unresolved
person
Dr. M. Hatta
p.94
unresolved
person
Hj. Tutty Alawiyah Duren Tiga
p.95
unresolved
person
Dr. Sutomo Gang
p.98
unresolved
—
Tenure
p.201
unresolved
—
Age
p.201
unresolved
org
PT Mulyo Joyo
p.247
unresolved
org
PT Mandiri Tunas Finance Opini
p.295
unresolved
org
PT MANDIRI TUNAS FINANCE CATATAN ATAS
p.313 ×8
unresolved
org
Indonesia (Persero) Tbk
p.313 ×3
unresolved
person
Muhammad Kholid Artha
p.313
unresolved
org
Ministry of Laws
p.313
unresolved
—
Marlan Marthi
· Anggota
p.314
unresolved
person
Achmad
· Anggota
p.314
unresolved
person
Indra Riyawan
· Anggota
p.314 ×2
unresolved
person
Irwan Tri Nugroho
· Anggota
p.314
unresolved
org
Dana Pensiun Bank Mandiri
p.401 ×2
unresolved
org
PT AXA Insurance Indonesia
p.401
unresolved
org
PT Asuransi Jasa Indonesia (Persero)
p.401
unresolved
org
PT Balai Pustaka (Persero)
p.401
unresolved
org
PT Kimia Farma Apotek
p.401
unresolved
org
PT Kimia Farma Diagnostika
p.401
unresolved
org
PT Kimia Farma Trading
p.401
unresolved
org
Bank Mandiri Group Karyawan
p.401
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
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