Skip to content
Back to announcement

AnnualReport2023-SMMA-att2.pdf

Other Text extracted SMMA

Source file signed link, expires in 15 minutes

This browser can't display the PDF inline. Open it in a new tab.

Extracted text 529

Page 1
            2023
          Laporan Tahunan
           Annual Report




 Memperkuat Pertumbuhan
melalui Peningkatan Strategis
  Empowering Progress Through
    Strategic Advancements
Page 2
                     MEMPERKUAT
                     PERTUMBUHAN MELALUI
                     PENINGKATAN STRATEGIS

Laporan              S  ebagai lembaga jasa keuangan terintegrasi yang
                        terus berkembang, PT Sinar Mas Multiartha Tbk
                     terus membenahi dan menyempurnakan pengelolaan
Tahunan 2023         usaha berdasarkan prinsip tata kelola keberlanjutan.
                     Setiap pengambilan keputusan oleh Perseroan sebagai
                     Entitas Induk ataupun pada Entitas Anak senantiasa
                     mengintegrasikan pengelolaan aspek ekonomi, sosial,
                     dan lingkungan dengan memperhatikan pengembangan
                     peraturan dan standar yang berlaku, serta praktik-
                     praktik terbaik di sektor jasa keuangan. Hal ini terlihat
                     dari kebijakan, strategi, dan rencana kerja yang semakin
                     baik, terfokus, dan inklusif. Penguatan pilar-pilar
                     strategis dilakukan secara holistik untuk mengokohkan
                     pertumbuhan grup usaha kini dan nanti.




                     Empowering Progress Through
                     Strategic Advancements


                     As an evolving integrated financial services institution, PT Sinar
                     Mas Multiartha Tbk continuously enhances and refines its business
                     management based on the principles of sustainable governance.
                     Every decision made by the Company, whether as the Parent Entity
                     or within its Subsidiaries, consistently integrates economic, social,
                     and environmental aspects, taking into account the development of
                     relevant regulations and standards, as well as best practices in the
                     financial services sector. This is evident in the increasingly improved,
                     focused, and inclusive policies, strategies, and operational plans.
                     Strengthening of strategic pillars is carried out holistically to fortify
2023 Annual Report   the current and future growth of the business group.
Page 3
                                                                                        PT SINAR MAS MULTIARTHA TBK




Sanggahan dan Batasan Tanggung Jawab
Disclaimer and Scope of Responsibility

Laporan Tahunan 2023 PT Sinar Mas Multiartha Tbk (yang                  The 2023 Annual Report of PT Sinar Mas Multiartha Tbk (hereinafter
selanjutnya disebut “Sinar Mas Multiartha” atau “Perseroan”)            referred to as “Sinar Mas Multiartha” or “the Company”)
disusun berdasarkan Peraturan Otoritas Jasa Keuangan                    was prepared based on Financial Services Authority Regulation
No. 29/POJK.04/2016 tentang Laporan Tahunan Emiten atau                 No. 29/POJK.04/2016 on Annual Reports of Issuers or Public
Perusahaan Publik serta Peraturan Otoritas Jasa Keuangan                Companies as well as Financial Services Authority Regulation
No. 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan            No. 51/POJK.03/2017 on the Implementation of Sustainable Finance
bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik.              for Financial Services Institutions, Issuers, and Public Companies.
Muatan konten laporan ini sesuai dengan Surat Edaran                    The content of this report is in accordance with Financial Services
Otoritas Jasa Keuangan No. 16/SEOJK.04/2021 tentang Bentuk              Authority Circular Letter No. 16/SEOJK.04/2021 on the Form and
dan Isi Laporan Tahunan Emiten atau Perusahaan Publik.                  Content of the Annual Report of Issuers or Public Companies.

Laporan ini memuat informasi terkait prinsip-prinsip keberlanjutan      This report contains information related to sustainability
dalam seluruh aspek bisnis yang dijalankan serta kinerja ekonomi,       principles in all aspects of the current ongoing business
sosial, dan lingkungan Perseroan selama periode 1 Januari 2023          and the Company’s economic, social, and environmental
hingga 31 Desember 2023, disertai dengan perbandingan kinerja           performance for the period of 1 January 2023 to 31 December
tahun-tahun sebelumnya. Selain itu, Laporan Tahunan ini juga            2023, completed with a comparison of the performance of the
menyajikan informasi terkait proyeksi kerja Perseroan di tahun          previous years. In addition, this Annual Report also presents
selanjutnya yang disusun berdasarkan pernyataan-pernyataan              information related to the Company’s work projections for
prospektif dan berbagai asumsi mengenai kondisi mendatang               the following year, compiled based on prospective statements
Perseroan, serta lingkungan bisnis yang terkait, sehingga dapat         and various assumptions on the Company’s future conditions,
mengakibatkan perkembangan aktual secara material berbeda               as well as related business environment, which may result in
dari yang dilaporkan. Oleh karena itu, Perseroan mengimbau              actual developments that are materially different from those
agar pemangku kepentingan dapat menggunakan informasi                   reported. Therefore, the Company urges stakeholders to use
tersebut secara bijak dalam pengambilan keputusan.                      the information with discretion in decision-making.

Informasi lebih lanjut terkait laporan ini dan muatan di dalamnya       Further information regarding this report and its contents
dapat diperoleh melalui:                                                can be obtained through:




                                                               Menara Tekno Lt. 7
                      Felix                                    Jl. Fachruddin No. 19, Jakarta Pusat, 10250
                      Sekretaris Perusahaan
                                                                     (021) 392 5660                     multiartha@smma.co.id
                      Corporate Secretary                            (021) 392 5788                     www.smma.co.id




Tentang Laporan Tahunan 2023 PT Sinar Mas Multiartha Tbk
Brief Information on the 2023 Annual Report of PT Sinar Mas Multiartha Tbk
Laporan Tahunan 2023 PT Sinar Mas Multiartha Tbk merupakan              The 2023 Annual Report of PT Sinar Mas Multiartha Tbk is the
Laporan Tahunan ke-28 yang diterbitkan Perseroan. Tujuan utama          28th Annual Report issued by the Company. The main objective
Laporan Tahunan ini disusun untuk meningkatkan keterbukaan              of this Annual Report is to improve the Company’s information
informasi Perseroan kepada para pemangku kepentingan.                   disclosure to its stakeholders. In addition, this Annual Report is also
Selain itu, Laporan Tahunan ini juga disusun untuk memenuhi             compiled to meet the Company’s performance result reporting
ketentuan pelaporan hasil kinerja Perseroan kepada regulator.           requirement to the regulators.

Laporan Tahunan ini disajikan dalam 2 bahasa, yaitu Bahasa              This Annual Report is presented in 2 languages, Indonesian
Indonesia dan Bahasa Inggris dengan menggunakan jenis                   and English, and uses font type and size that are easy to
dan ukuran huruf yang mudah dibaca. Laporan Tahunan ini                 read. This Annual Report is available in a good quality printed
tersedia dalam bentuk cetakan dengan kualitas yang baik, serta          form, as well as in an electronic form that can be viewed
dalam bentuk elektronik yang dapat dilihat dan diunduh di               and downloaded from the Company’s official website,
situs web resmi Perseroan, yaitu www.smma.co.id.                        www.smma.co.id.




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report                  1
Page 4
Ulasan Tahun 2023
                         2023 Year in Review




                                                                                          Laba Tahun Berjalan
                                                                                                  Profit for The Year

                                                                            2023                     1.189
                                                                            2022                              902
                                                                            2021                              992


  KINERJA PER SEGMEN USAHA / Performance per Business Segment
  (dalam miliar Rupiah / in billion Rupiah)




Underwriting Asuransi                         Pembiayaan Konsumen,                 Jasa Biro
Insurance Underwriting                        Piutang Sewa Pembiayaan,             Administrasi Efek
                                              dan Anjak Piutang                    Securities Administration Bureau
                                              Consumer Finance, Financing Lease
                                              Receivables, and Factoring


  2023           19.084                         2023              1.262              2023                         12
  2022               25.733                     2022                   975           2022                             15
  2021               31.027                     2021                 2.078           2021                              8

             Laporan Tahunan 2023
  2          2023 Annual Report
Page 5
                                                              PT SINAR MAS MULTIARTHA TBK




                                   KINERJA KEUANGAN / Financial Performance
                                                                   (dalam miliar Rupiah / in billion Rupiah)




            Pendapatan                                               Total Aset
            Income                                                   Total Assets



  2023               26.930                             2023               113.966
  2022               33.188                             2022                    114.407
  2021               38.533                             2021                    117.510




Perbankan                Jasa Penjaminan Emisi                     Pembangunan,
Banking                  dan Perantara Pedagang Efek,              Perdagangan, dan Jasa
                         serta Jasa Manajer Investasi              Construction, Trading, and Services
                         Securities Brokerage and Underwriting,
                         and Investment Manager Services


  2023       4.434         2023                     608              2023                1.356
  2022         4.059       2022                       608            2022                        604
  2021         4.243       2021                       493            2021                        515

                                                                     Laporan Tahunan 2023
                                                                        2023 Annual Report               3
Page 6
Daftar Isi
     Strategi Keberlanjutan                                        Penentuan Topik Material
                                                              6                                                             12
     Sustainability Strategy                                       Determination of Material Topics
     Penentuan Isi dan Topik Material                              Verifikasi oleh Pihak Independen
                                                              8                                                             13
     Determination of Material Content and Topic                   Independent Verification
     Pelibatan Pemangku Kepentingan
                                                              8
     Stakeholder Engagement


KILAS KINERJA / Performance Highlights                                                                                     14
     Ikhtisar Kinerja Keberlanjutan                                Penghargaan
                                                             16                                                             25
     Sustainability Performance Highlights                         Awards
     Ikhtisar Saham                                                Keanggotaan Asosiasi
                                                             22                                                             25
     Share Highlights                                              Association Membership
     Ikhtisar Obligasi                                             Peristiwa Penting
                                                             24                                                             26
     Bonds Highlights                                              Significant Events


LAPORAN MANAJEMEN / Management Report                                                                                     28
     Laporan Dewan Komisaris                                       Profil Dewan Komisaris
                                                             30                                                             42
     Report from the Board of Commissioners                        Profile of the Board of Commissioners
     Laporan Direksi                                               Profil Direksi
                                                             34                                                             48
     Report from the Board of Directors                            Profile of the Board of Directors


PROFIL PERUSAHAAN / Company Profile                                                                                       54
     Identitas Perusahaan                                          Komposisi Pemegang Saham
                                                             56                                                            141
     Corporate Identity                                            Shareholders Composition
     Riwayat Singkat                                               Pemegang Saham Utama dan Pengendali
                                                             58                                                            143
     Brief History of the Company                                  Main and Controlling Shareholders
     Jejak Langkah                                                 Realisasi Penggunaan Dana Hasil Penawaran Umum
                                                             60                                                            144
     Milestone                                                     Realization of Public Offering Proceeds Utilization
     Visi, Misi, dan Nilai Perusahaan                              Program Kepemilikan Saham oleh Karyawan dan/atau
                                                             64    Manajemen                                               144
     Vision, Mission, and Corporate Values
                                                                   Employee and/or Management Stock Allocation Program
     Bidang Usaha
                                                             66    Kronologi Pencatatan Saham
     Line of Business                                                                                                      146
                                                                   Chronological Listing of Shares
     Wilayah Operasional
                                                             67    Kebijakan dan Pembagian Dividen
                                                                                                                           149
     Operational Areas
                                                                   Dividend Policy and Distribution
     Struktur Organisasi                                           Kronologi Pencatatan Obligasi
                                                             68                                                            150
     Organization Structure                                        Chronological Listing of Bonds
     Struktur Korporasi                                            Lembaga Penunjang Pasar Modal
                                                             70                                                            152
     Corporate Structure                                           Capital Market Supporting Institution
     Informasi Entitas Anak dan Entitas Asosiasi                   Informasi pada Situs Web Perseroan
                                                             72                                                            153
     Information on Subsidiaries and Associates                    Information on the Company’s Website
     Alamat Perusahaan, Entitas Anak, dan Entitas Asosiasi         Sumber Daya Manusia
                                                             138                                                           154
     Address of the Company, Subsidiaries, and Associates          Human Resources


ANALISIS DAN PEMBAHASAN MANAJEMEN / Management Discussion and Analysis                                                    160
     Tinjauan Ekonomi                                              Tinjauan Keuangan
                                                             162                                                           169
     Economic Overview                                             Financial Overview
     Tinjauan Industri                                               Laporan Posisi Keuangan Konsolidasian
                                                             163                                                           169
     Industry Overview                                               Consolidated Statement of Financial Position
     Tinjauan Operasional                                            Laporan Laba Rugi dan Penghasilan Komprehensif
                                                             164
     Operational Overview                                            Lain Konsolidasian
                                                                                                                           171
       Strategi Pengembangan Usaha Tahun 2023                        Consolidated Statement of Profit or Loss and Other
                                                             164     Comprehensive Income
       Business Development Strategy of 2023
       Tinjauan Segmen Usaha                                         Laporan Arus Kas Konsolidasian
                                                             164                                                           174
       Business Segment Overview                                     Consolidated Statements of Cash Flows




             Laporan Tahunan 2023
 4           2023 Annual Report
Page 7
                                                                                     PT SINAR MAS MULTIARTHA TBK




                                                                                     Tabel of Contents

     Rasio Keuangan                                                   Instrumen Keuangan Derivatif dan Aktivitas Lindung Nilai
                                                              175                                                                 184
     Financial Ratio                                                  Derivative Financial Instrument and Hedging Activities
     Struktur Permodalan                                              Aspek Pemasaran
                                                              176                                                                 185
     Capital Structure                                                Marketing Aspect
     Investasi Barang Modal                                           Perbandingan Target dan Realisasi 2023 serta Target
                                                              177
     Capital Goods Investment                                         2024
                                                                                                                                  185
     Ikatan Material terkait Investasi Barang Modal                   Target Comparison and Realization of 2023 and Target
     Material Commitment related to Capital Goods             177     of 2024
     Investment                                                       Prospek Usaha 2024
                                                                                                                                  185
     Informasi dan Fakta Material mengenai Investasi,                 Business Prospect of 2024
     Ekspansi, Divestasi, Akuisisi atau Restrukturisasi               Strategi Usaha 2024
                                                                                                                                  186
     Utang/Modal                                                      Business Strategy of 2024
                                                              180
     Material Information and Facts related to Investment,            Informasi Material setelah Tanggal Laporan Akuntan
     Expansion, Divestment, Acquisition, and Debt/Capital             Material Information after the Date of the Accountant       186
     Restructuring                                                    Report
     Transaksi Material yang Mengandung Benturan                      Perubahan Peraturan Perundang-Undangan
     Kepentingan atau Transaksi dengan Pihak Berelasi                 yang Berdampak Signifikan terhadap Perusahaan
                                                              182                                                                 186
     Material Transactions Having Conflict of Interest or             Amendment to Laws and Regulations with Significant
     Transactions with Affiliates                                     Impact to Company
     Komitmen dan Kontinjensi                                         Perubahan Kebijakan Akuntansi
                                                              183                                                                 187
     Commitments and Contingency                                      Changes in Accounting Policy


TATA KELOLA PERUSAHAAN / Corporate Governance                                                                                    188
   Komitmen dan Penerapan GCG                                       Sekretaris Perusahaan
                                                              190                                                                 228
   Commitment and Implementation of GCG                             Corporate Secretary
   Tujuan Penerapan GCG                                             Unit Audit Internal
                                                              191                                                                 230
   Objective of GCG Implementation                                  Internal Audit Unit
   Struktur dan Mekanisme Penerapan GCG                             Sistem Pengendalian Internal
                                                              191                                                                 234
   Structure and Mechanism of GCG Implementation                    Internal Control System
   Penerapan Pedoman Tata Kelola Perusahaan Terbuka                 Sistem Manajemen Risiko
                                                              192                                                                 236
   Implementation of Public Company Governance Guideline            Risk Management System
   Rapat Umum Pemegang Saham                                        Tata Kelola Teknologi Informasi
                                                              196                                                                 241
   General Meeting of Shareholders                                  Information Technology Governance
   Dewan Komisaris                                                  Kode Etik
                                                              203                                                                 242
   Board of Commissioners                                           Code of Ethics
   Direksi                                                          Budaya Perusahaan
                                                              209                                                                 243
   Board of Directors                                               Corporate Culture
   Kebijakan Nominasi dan Remunerasi Dewan Komisaris                Pengendalian Gratifikasi dan Anti Korupsi
                                                                                                                                  244
   dan Direksi                                                      Gratification Control and Anti-Corruption
                                                              215
   Board of Commissioners and Board of Directors Nomination         Pemberian Dana untuk Kegiatan Sosial Politik
   and Remuneration Policy                                                                                                        244
                                                                    Funding of Political Activities
   Komite Audit                                                     Perkara Penting dan Sanksi Administratif
                                                              217                                                                 244
   Audit Committee                                                  Significant Cases and Administrative Sanction
   Komite Nominasi dan Remunerasi                                   Sistem Pelaporan Pelanggaran
                                                              223                                                                 245
   Nomination and Remuneration Committee                            Whistleblowing System



LAPORAN KEBERLANJUTAN / Sustainability Report                                                                                    246
   Tata Kelola Keberlanjutan                                        Aspek Lingkungan
                                                              248                                                                 294
   Sustainability Governance                                        Environmental Aspect
   Aspek Sosial
                                                              250
   Social Aspect


   Tanggung Jawab Laporan Tahunan                                   Indeks Pengungkapan Kriteria POJK No. 51/POJK.03/2017
                                                              301                                                                 305
   Annual Report Responsibility                                     POJK Criteria Disclosure Index No. 51/POJK.03/2017
   Tanggapan terhadap Umpan Balik Tahun Sebelumnya                  Laporan Keuangan
                                                              302                                                                 308
   Responses to Previous Year’s Report Feedback                     Financial Report
   Lembar Umpan Balik
                                                              303
   Feedback Form




                                                                                            Laporan Tahunan 2023
                                                                                               2023 Annual Report                5
Page 8
Strategi Keberlanjutan
Sustainability Strategy


“Perseroan, bersama Entitas Anak, senantiasa menerapkan praktik-praktik bisnis berkelanjutan melalui tindakan dan
inisiatif berkelanjutan guna mencapai keseimbangan keberlanjutan ekonomi, sosial, dan lingkungan hidup. Dengan
menerapkan praktik-praktik bisnis yang berkelanjutan, Perseroan berupaya untuk menciptakan nilai jangka panjang dan
mendukung Tujuan Pembangunan Berkelanjutan (sustainable development goals/SDGs) dengan tetap mempertimbangkan
kesejahteraan masyarakat dan keseimbangan lingkungan hidup.”
“The Company, along with its Subsidiaries, consistently implements sustainable business practices through sustainable actions and
initiatives aimed at achieving a balance of economic, social, and environmental sustainability. By adopting sustainable business
practices, the Company strives to create long-term value and support the Sustainable Development Goals (SDGs) while considering the
welfare of society and environmental balance.”




                                                  Keberlanjutan Kinerja Ekonomi
                                               Economic Performance Sustainability


                Mendukung Perkembangan Ekonomi yang Berkelanjutan
                Supporting a Sustainable Economic Development


 Target 2023                                                            2023 Targets
 1. Peningkatan pencapaian kinerja keuangan dan operasional             1. Improved achievements of financial and operational performances
    dibandingkan tahun sebelumnya; serta                                   compared from the previous year; and
 2. Peningkatan kondisi ekonomi masyarakat di sekitar wilayah           2. Improved economic condition of the communities surrounding
    operasional.                                                           the operational areas.
 Kegiatan                                                               Activities
 1. Mempertahankan kinerja keuangan dan operasional;                    1. Maintaining financial and operational performances;
 2. Mendistribusikan manfaat ekonomi bagi para pemangku                 2. Distributing economic benefits for the stakeholders; and
    kepentingan; serta
 3. Melaksanakan pemberdayaan masyarakat yang menunjang                 3. Implementing community empowerment that supports the
    peningkatan kesejahteraan dan ekonomi masyarakat lokal.                improvement of the local community’s welfare and economy.
 Strategi Pencapaian                                                    Achievement Strategy
 1. Memastikan masing-masing Entitas Anak menyediakan produk            1. Ensuring every Subsidiary provides varied and quality products
    dan/atau jasa yang bervariasi dan berkualitas; serta                   and/or services; and
 2. Melaksanakan berbagai program pemberdayaan masyarakat               2. Implementing various community empowerment programs that
    yang membantu peningkatan perekonomian masyarakat sekitar.             assists the improvement of economy of the surrounding community.




                                                    Keberlanjutan Kinerja Sosial
                                                  Social Performance Sustainability

                Mendorong Formalisasi dan Pertumbuhan Usaha Mikro, Kecil, dan Menengah (UMKM), termasuk melalui Akses
                terhadap Jasa Keuangan
                Encouraging the Formalization and Growth of the Micro, Small, and Medium Enterprises (MSMEs), including through
                Access of Financial Services

 Target 2023                                                            2023 Targets
 Konsisten dalam pembiayaan atau penyaluran kredit kategori             Consistent in financing or loan disbursement under the sustainable
 kegiatan usaha berkelanjutan (KKUB).                                   business activities category (KKUB).
 Kegiatan                                                               Activities
 1. Menyelenggarakan program edukasi, literasi, dan inklusi keuangan;   1. Organizing financial education, literacy, and inclusion programs;
    serta                                                                  and
 2. Memudahkan akses pembiayaan dan penyaluran kredit untuk UMKM.       2. Facilitate access to financing and loan disbursement for MSMEs.




               Laporan Tahunan 2023
  6            2023 Annual Report
Page 9
                                                                                              PT SINAR MAS MULTIARTHA TBK




                                                      Keberlanjutan Kinerja Sosial
                                                    Social Performance Sustainability

Strategi Pencapaian                                                        Achievement Strategy
1. Meningkatkan pemahaman masyarakat mengenai produk-produk                1. Improving public understanding of financial service products; and
   jasa keuangan; serta
2. Meningkatkan jumlah dana yang disalurkan kepada UMKM,                   2. Improving the amount of funds distributed to MSMEs, especially
   khususnya yang berwawasan lingkungan.                                      those with environmental insight.



                Melindungi Hak-Hak Karyawan dan Menciptakan Lingkungan Kerja yang Layak bagi Seluruh Karyawan
                Protecting Employee Rights and Creating a Decent Work Environment for All Employees



Target 2023                                                                2023 Targets
1. Tingkat kecelakaan kerja nol (zero accident); serta                     1. Zero accident; and
2. Pemberian remunerasi yang sesuai dan kompetitif                         2. Provision of appropriate and competitive remuneration.

Kegiatan                                                                   Activities
1. Menyediakan lingkungan kerja yang layak dan nyaman; serta               1. Providing decent and comfortable work environment; and
2. Memenuhi hak setiap karyawan, termasuk pemberian remunerasi             2. Fulfilling the rights of every employee, including provision of
   yang mempertimbangkan tanggung jawab kerja dan peraturan                   remuneration that considers the work responsibility and local
   pemerintah setempat.                                                       government regulation.

Strategi Pencapaian                                                        Achievement Strategy
1. Memberikan remunerasi yang sesuai dengan peraturan pemerintah           1. Provide remuneration in line with the government regulation and the
   dan ketentuan Perseroan;                                                   Company’s provision;
2. Menyediakan sarana dan prasarana kesehatan dan keselamatan              2. Provide occupational health and safety (OHS) facilities and/or
   kerja (K3);                                                                infrastructure;
3. Menetapkan kebijakan protokol kesehatan; serta                          3. Establish health protocol policies; and
4. Mengikutsertakan karyawan dalam berbagai program pengembangan           4. Involving employees in various competency development programs.
   kompetensi.




                                                    Keberlanjutan Kinerja Ekonomi
                                                 Economic Performance Sustainability


                Mencapai Pengelolaan Berkelanjutan dan Pemanfaatan Sumber Daya Alam secara Efisien
                Achieving Sustainable Management and Efficient Use of Natural Resources



Target 2023                                                                2023 Targets
1. Penurunan biaya pemakaian listrik, air, dan bahan bakar minyak; serta   1. Reduced costs of electricity, water, and fuels; and
2. Penurunan penggunaan kertas.                                            2. Reduced paper usage.

Kegiatan                                                                   Activities
1. Menggunakan pendingin ruangan yang ramah lingkungan;                    1. Using environmentally-friendly air conditioners;
2. Menghentikan penggunaan lampu penerangan di seluruh jaringan            2. Stopping the use of lighting throughout the Company’s network at
   Perseroan pukul 12.00-13.00 waktu lokal;                                   12.00-13.00 local time;
3. Mengurangi dan meminimalkan penggunaan kertas dengan                    3. Reducing and minimizing paper usage and switch to internet usage;
   mengalihkannya ke penggunaan internet; serta                               and
4. Memanfaatkan layanan teleconference untuk melakukan                     4. Utilizing teleconference service to monitor and coordinate
   pengawasan dan koordinasi kegiatan operasional.                            operational activities.

Strategi Pencapaian                                                        Achievement Strategy
1. Menyosialisasikan efisiensi penggunaan listrik, bahan bakar minyak,     1. Socializing the efficient usage of electricity, fuels, water, and paper;
   air, dan kertas; serta                                                     and
2. Melaksanakan inisiatif secara konsisten dan berkesinambungan.           2. Consistent and sustainable implementation of the initiatives.




                                                                                                         Laporan Tahunan 2023
                                                                                                            2023 Annual Report                   7
Page 10
Penentuan Isi dan Topik Material
Determination of Material Content and Topic

Pelibatan Pemangku Kepentingan                                    Stakeholder Engagement

Dalam setiap lini bisnis yang dijalankan, Perseroan senantiasa    In every line of business conducted, the Company
melibatkan pemangku kepentingan guna menjalin hubungan            consistently engages stakeholders to foster stronger
yang lebih kuat, memenuhi harapan pemangku kepentingan,           relationships, meet stakeholder expectations, and guide
serta mengarahkan praktik bisnis yang berkelanjutan dengan        more suitable sustainable business practices. Therefore, the
lebih sesuai. Oleh karenanya, Perseroan mengidentifikasi          Company identifies relevant stakeholder groups based on
kelompok pemangku kepentingan yang relevan berdasarkan            the AA1000 Stakeholder Engagement Standard (SES) 2015
pedoman AA1000 Stakeholder Engagement Standard (SES)              guidelines, as follows.
2015, sebagai berikut.


 PENGARUH / Influence


                        Pihak yang memberikan pengaruh terhadap pengambilan keputusan yang dilakukan Perseroan terkait
                        keberlangsungan usaha.
                        Parties that influence the decision making of the Company related to business continuity.




 KETERGANTUNGAN / Dependency


                        Perseroan memiliki ketergantungan kepada pihak tersebut, baik secara langsung maupun tidak langsung.
                        The Company is dependent on such party, either directly or indirectly.




 TANGGUNG JAWAB / Responsibility


                        Perseroan memiliki tanggung jawab kepada pihak tersebut baik saat ini maupun di masa yang akan datang.
                        The Company is responsible to such party both now and in the coming future.




 PERHATIAN / Attention


                        Pihak yang perlu diperhatikan Perseroan dalam aspek ekonomi, sosial, dan lingkungan hidup.
                        Party that the Company should consider on economic, social, and environmental aspects.




 PERSPEKTIF / Perspective


                        Pihak yang dapat memberikan sudut pandang baru yang sebelumnya belum ada terhadap isu penting
                        yang relevan.
                        Party that may provide a new perspective previously unavailable to the important relevant issue.




             Laporan Tahunan 2023
  8          2023 Annual Report
Page 11
                                                                                           PT SINAR MAS MULTIARTHA TBK




Berdasarkan kriteria-kriteria tersebut, Perseroan telah                   Based on these criteria, the Company has mapped the
memetakan kelompok pemangku kepentingan dan respons                       stakeholder groups and the Company’s response to the needs
Perseroan terhadap kebutuhan masing-masing kelompok                       of each stakeholder group, which is described as follows.
pemangku kepentingan, yang diuraikan sebagai berikut.


                                                     Pemegang Saham dan Investor
                                                      Shareholders and Investors

 Dasar Pemilihan                                                         Selection Basis
 1. Tanggung jawab;                                                      1. Responsibility;
 2. Perspektif; serta                                                    2. Perspective; and
 3. Pengaruh.                                                            3. Influence

 Kebutuhan Pemangku Kepentingan                                          Stakeholder Needs
 1. Kinerja keuangan dan non-keuangan;                                   1. Financial and non-financial performance;
 2. Keberlanjutan usaha; serta                                           2. Business sustainability; and
 3. Informasi yang jelas dan terkini terkait arah strategis Perseroan.   3. Clear and updated information on the Company’s strategic direction.

 Respons terhadap Kebutuhan Pemangku Kepentingan                         Responses to Stakeholder Needs
 1. Menyusun strategi peningkatan kinerja keuangan dan non-keuangan      1. Formulate a strategy to improve financial and non-financial
    serta keberlanjutan usaha;                                              performance, as well as business sustainability;
 2. Menjaga kinerja tetap optimal dan sesuai target, dengan              2. Maintain optimal and on-target performance by considering
    memperhatikan aspek ekonomi, sosial, dan lingkungan; serta              economic, social, and environmental aspects; and
 3. Menyampaikan informasi mutakhir secara transparan.                   3. Deliver up-to-date information transparently.

 Metode Pelibatan dan Frekuensi Pelaksanaan                              Involvement Method and Implementation Frequency
 1. Pelaksanaan Rapat Umum Pemegang Saham dan paparan publik;            1. Implementation of General Meeting of Shareholders and public
                                                                            expose;
 2. Penyampaian Laporan Tahunan; serta                                   2. Submission of Annual Report; and
 3. Penyediaan akses informasi dalam situs web Perseroan.                3. Provision of access to information on the Company’s website.




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report                9
Page 12
                                                     Pemerintah dan Regulator
                                                     Government and Regulator

Dasar Pemilihan                                                        Selection Basis
1. Tanggung jawab; serta                                               1. Responsibility; and
2. Pengaruh.                                                           2. Influence.
Kebutuhan Pemangku Kepentingan                                         Stakeholder Needs
1. Kepatuhan regulasi dan pelaksanaan prinsip kehati-hatian dan        1. Regulatory compliance and the implementation of prudential and
   tata kelola perusahaan; serta                                          good corporate governance principles; and
2. Pemenuhan kewajiban perpajakan.                                     2. Fulfilment of tax obligations.
Respons terhadap Kebutuhan Pemangku Kepentingan                        Responses to Stakeholder Needs
1. Memastikan pemenuhan seluruh peraturan yang berlaku;                1. Ensuring fulfilment of all prevailing regulations;
2. Meningkatkan kualitas pelaksanaan tata kelola perusahaan (GCG);     2. Improving the implementation quality of good corporate governance
                                                                          (GCG);
3. Melakukan analisis risiko sosial dan lingkungan dalam pembiayaan;   3. Conducting social and environmental risks analysis on financing;
   serta                                                                  and
4. Membayar pajak dan penerimaan negara bukan pajak (PNBP)             4. Paying taxes and non-tax state revenue (PNBP) in line with the
   sesuai aturan dan tepat waktu.                                         rules and on-time.
Metode Pelibatan dan Frekuensi Pelaksanaan                             Involvement Method and Implementation Frequency
1. Penyampaian Laporan Tahunan, Laporan GCG, dan laporan lainnya;      1. Submission of Annual Report, GCG Report, and other reports;
2. Penyusunan Rencana Aksi Keuangan Berkelanjutan (RAKB); serta        2. Preparation of Sustainable Finance Action Plan (RAKB); and
3. Pembayaran dan pelaporan pajak dan PNBP.                            3. Payment and reporting of taxes and PNBP.




                                                              Karyawan
                                                              Employees

Dasar Pemilihan                                                        Selection Basis
1. Tanggung jawab;                                                     1. Responsibility;
2. Perhatian;                                                          2. Attention;
3. Pengaruh; serta                                                     3. Influence; and
4. Ketergantungan.                                                     4. Dependency.
Kebutuhan Pemangku Kepentingan                                         Stakeholder Needs
1. Pemenuhan hak ketenagakerjaan;                                      1. Fulfilment of labour rights;
2. Pemenuhan aspek K3;                                                 2. Fulfilment of OHS aspects;
3. Pengembangan kompetensi dan karier; serta                           3. Competency and career development; and
4. Kepuasan kerja.                                                     4. Job satisfaction.
Respons terhadap Kebutuhan Pemangku Kepentingan                        Responses to Stakeholder Needs
1. Memenuhi kontrak kerja dan perjanjian kerja bersama;                1. Fulfilling employment contract and collective labour agreement;
2. Memastikan kecukupan sarana dan prasarana K3;                       2. Ensuring the adequacy of OHS facilities and infrastructure;
3. Melaksanakan pengembangan kompetensi, penilaian kinerja, dan        3. Implementing      competency      development,       performance
   pengembangan karier; serta                                             assessment, and career development; and
4. Menyampaikan kebijakan terbaru Perseroan kepada seluruh             4. Communicating latest Company’s policy to all employees.
   karyawan.
Metode Pelibatan dan Frekuensi Pelaksanaan                             Involvement Method and Implementation Frequency
1. Penyusunan Peraturan Perusahaan yang mengatur hak dan               1. Preparation of Company Regulations on employee rights and
   kewajiban karyawan;                                                    obligations;
2. Penyediaan whistleblowing system (WBS) untuk melaporkan             2. Provision of a whistleblowing system (WBS) to report any violation
   pelanggaran praktik ketenagakerjaan;                                   of labour practice;
3. Pelaksanaan berbagai kegiatan pengembangan kompetensi,              3. Implementation of various competency development, promotion,
   promosi, atau mutasi; serta                                            or mutation activities; and
4. Pelaksanaan survei kepuasan karyawan.                               4. Implementation of employee satisfaction survey.




                                                               Nasabah
                                                              Customers

Dasar Pemilihan                                                        Selection Basis
1. Ketergantungan;                                                     1. Dependency;
2. Tanggung jawab; serta                                               2. Responsibility; and
3. Perhatian.                                                          3. Attention.




             Laporan Tahunan 2023
 10          2023 Annual Report
Page 13
                                                                                               PT SINAR MAS MULTIARTHA TBK




                                                                  Nasabah
                                                                 Customers

Kebutuhan Pemangku Kepentingan                                            Stakeholder Needs
1. Tanggapan dan tindak lanjut atas umpan balik, masukan, keluhan,        1. Response and follow-up on feedbacks, inputs, complaints, and
   dan permintaan informasi;                                                 information requests;
2. Pengembangan produk dan jasa, khususnya yang ditawarkan                2. Development of products and services, especially from Subsidiaries;
   Entitas Anak;
3. Kesehatan dan keselamatan dalam operasional Perseroan;                 3. Health and safety in Company’s operation;
4. Kinerja keberlanjutan;                                                 4. Sustainability performance;
5. Perlindungan privasi nasabah dan keamanan data;                        5. Protection of customers privacy and data security;
6. Layanan yang prima; serta                                              6. Premium services; and
7. Edukasi, literasi, dan inklusi keuangan.                               7. Financial education, literacy, and inclusion.
Respons terhadap Kebutuhan Pemangku Kepentingan                           Responses to Stakeholder Needs
1. Menyediakan media komunikasi, seperti situs web, call center, atau     1. Provision of communication media i.e. website, call centre, or face
   tatap muka melalui frontliner;                                            to face via a frontliner;
2. Menindaklanjuti umpan balik, masukan, keluhan, dan pengaduan           2. Follow-up on feedbacks, inputs, and complaints received;
   yang diterima;
3. Menggali kebutuhan nasabah dan mengembangkan inovasi                   3. Exploring customer needs and developing product innovations
   produk dan layanan digital;                                               and digital services;
4. Menjaga privasi dan keamanan data nasabah; serta                       4. Maintain customer privacy and data security; and
5. Menyelenggarakan program edukasi, literasi, dan inklusi keuangan       5. Organizing financial education, literacy, and inclusion programs
   melalui Entitas Anak.                                                     via Subsidiaries.
Metode Pelibatan dan Frekuensi Pelaksanaan                                Involvement Method and Implementation Frequency
1. Pelaksanaan paparan publik;                                            1. Implementation of public expose;
2. Survei kepuasan nasabah; serta                                         2. Customer satisfaction survey; and
3. Pertemuan nasabah.                                                     3. Customers gathering.




                                                               Mitra Usaha
                                                             Business Partners

Dasar Pemilihan                                                           Selection Basis
1. Tanggung jawab; serta                                                  1. Responsibility; and
2. Ketergantungan.                                                        2. Dependency.
Kebutuhan Pemangku Kepentingan                                            Stakeholder Needs
1. Pengadaan barang dan/atau jasa yang adil dan transparan;               1. Fair and transparent procurement of goods and/or services;
2. Kontrak kerja yang saling menguntungkan;                               2. Mutually beneficial work contract;
3. Pembayaran tepat waktu; serta                                          3. On-time payment; and
4. Hubungan kerja yang baik.                                              4. Good work relation.
Respons terhadap Kebutuhan Pemangku Kepentingan                           Responses to Stakeholder Needs
1. Memberikan informasi yang dibutuhkan untuk memperlancar                1. Providing necessary information to expedite the procurement
   proses pengadaan barang dan/atau jasa;                                    process of goods and/or services;
2. Menyosialisasikan kebijakan dan Kode Etik yang berlaku di Perseroan;   2. Socializing the policies and Code of Ethics applicable in the Company;
3. Membangun komunikasi bisnis yang sistematis; serta                     3. Developing systematic business communication; and
4. Melakukan pembayaran tepat waktu.                                      4. Conducting on-time payment.
Metode Pelibatan dan Frekuensi Pelaksanaan                                Involvement Method and Implementation Frequency
1. Perumusan kontrak kerja sama; serta                                    1. Formulating cooperative contract; and
2. Pelaksanaan pertemuan secara berkala.                                  2. Implementation of periodic meetings.




                                                                Masyarakat
                                                                  Public

Dasar Pemilihan                                                           Selection Basis
1. Tanggung jawab;                                                        1. Responsibility;
2. Ketergantungan;                                                        2. Dependency;
3. Perhatian; serta                                                       3. Attention; and
4. Perspektif.                                                            4. Perspective.
Kebutuhan Pemangku Kepentingan                                            Stakeholder Needs
1. Informasi aktivitas Perseroan; serta                                   1. Company activities information; and
2. Peningkatan kesejahteraan masyarakat.                                  2. Improvement of community welfare.




                                                                                                        Laporan Tahunan 2023
                                                                                                           2023 Annual Report                 11
Page 14
                                                                 Masyarakat
                                                                   Public

 Respons terhadap Kebutuhan Pemangku Kepentingan                          Responses to Stakeholder Needs
 1. Menyampaikan informasi mutakhir melalui situs web; serta              1. Delivering up-to-date information via websites; and
 2. Menyelenggarakan kegiatan tanggung jawab sosial (CSR) melalui         2. Organizing corporate social responsibilities (CSR) activities through
    Entitas Anak.                                                            Subsidiaries.
 Metode Pelibatan dan Frekuensi Pelaksanaan                               Involvement Method and Implementation Frequency
 1. Penyediaan sarana pengaduan masyarakat; serta                         1. Provision of community complaint facility; and
 2. Pelaksanaan program CSR.                                              2. Implementation of CSR program




                                                                     Media
                                                                     Media

 Dasar Pemilihan                                                          Selection Basis
 Tanggung jawab.                                                          Responsibility.
 Kebutuhan Pemangku Kepentingan                                           Stakeholder Needs
 Keterbukaan informasi terkait pengembangan Perseroan.                    Information disclosure regarding Company’s development.
 Respons terhadap Kebutuhan Pemangku Kepentingan                          Responses to Stakeholder Needs
 Menyediakan informasi yang relevan dan transparan melalui situs          Providing relevant and transparent information via Company’s
 web Perseroan dan Bursa Efek Indonesia.                                  website and Indonesia Stock Exchanges.
 Metode Pelibatan dan Frekuensi Pelaksanaan                               Involvement Method and Implementation Frequency
 1. Penyediaan akses sarana informasi;                                    1. Provision of access to information;
 2. Penyelenggaraan siaran pers dan paparan publik; serta                 2. Organization of press release and public expose; and
 3. Publikasi media dan laporan perusahaan lainnya.                       3. Media publication and other company reports.




Penentuan Topik Material                                                    Determination of Material Topics

Isu-isu penting dan kelompok pemangku kepentingan yang telah                Important issues and stakeholder groups that have been
dipetakan Perseroan kemudian dijadikan bahan identifikasi                   mapped by the Company are then utilized for identification
dalam menentukan topik material, yang diungkapkan dalam                     purposes in determining material topics, as depicted in the
tabel berikut.                                                              following table.


DAFTAR TOPIK MATERIAL DAN BATASAN
List of Material Topics and Limitation


                                                                                                                    Batasan Topik Material
   Topik Material                                     Alasan Bersifat Material                                     Material Topic Limitation
   Material Topics                                        Material Reason                                          Perseroan        Eksternal
                                                                                                                   Company          External

 Aspek Ekonomi
 Economic Aspects
 Kinerja Ekonomi           Keberlangsungan usaha Perseroan dipengaruhi oleh pertumbuhan ekonomi.
                                                                                                                        √                 √
 Economic Performance      The Company’s business sustainability is influenced by economic growth.
                           Konflik dan benturan kepentingan berdampak negatif terhadap aspek keuangan
                           dan non-keuangan Bank.
 Anti-Fraud                                                                                                             √                 √
                           Conflicts and conflicts of interest negatively impact the financial and non-financial
                           aspects of the Bank.
 Digitalisasi Produk dan
                           Layanan keuangan berbasis digital telah menjadi kebutuhan bagi masyarakat
 Layanan
                           saat ini.                                                                                    √                 √
 Digitalization of
                           Digital-based financial services have become a necessity for today’s society.
 Products and Services




              Laporan Tahunan 2023
  12          2023 Annual Report
Page 15
                                                                                       PT SINAR MAS MULTIARTHA TBK




                                                                                                              Batasan Topik Material
   Topik Material                                 Alasan Bersifat Material                                   Material Topic Limitation
   Material Topics                                    Material Reason                                        Perseroan     Eksternal
                                                                                                             Company       External

 Aspek Sosial
 Social Aspects
                        Sesuai dengan peraturan yang berlaku, Perseroan dan Entitas Anak selaku pelaku
 Kerahasiaan            usaha keuangan diwajibkan untuk menjaga kerahasiaan data nasabah guna
 Data Nasabah           melindungi dari kejadian yang tidak diinginkan.
                                                                                                                  √            √
 Customer Data          In line with the prevailing regulations, the Company and its Subsidiaries as
 Confidentiality        financial business actors are obliged to maintain the confidentiality of customer
                        data to protect it from any unwanted event.
                        Pengembangan kompetensi karyawan diperlukan guna meningkatkan kemampuan
 Pengembangan           dan pengetahuan dalam menunjang pelaksanaan tugas dan tanggung jawabnya,
 Kompetensi Karyawan    termasuk di bidang keuangan berkelanjutan yang diterapkan.
                                                                                                                  √             -
 Employee Competency    Employee competency development is required to enhance the capability and
 Development            knowledge to support the implementation of their duties and responsibilities,
                        including in the sustainable finance sector being implemented.
                        Perseroan dan Entitas Anak berkomitmen untuk mendukung upaya pemerintah
 Inklusi dan Literasi   dalam memberikan kemudahan dan peningkatan pengetahuan masyarakat
 Keuangan               terhadap layanan jasa keuangan.
                                                                                                                  -            √
 Financial Inclusion    The Company and its Subsidiaries are committed to support the government
 and Literacy           effort to provide convenience and improvement of community knowledge on
                        financial services.
 Pengembangan Sosial    Sebagai bentuk rasa tanggung jawab Perseroan terhadap masyarakat, khususnya
 dan Kemasyarakatan     di sekitar wilayah operasional.
                                                                                                                  -            √
 Social and Community   As a form of the Company’s community responsibility, particularly for communities
 Development            surrounding the operational areas.
 Aspek Lingkungan
 Environmental Aspect
                        Kegiatan operasional Perseroan dan Entitas Anak menggunakan energi yang cukup
                        besar sehingga perlu adanya efisiensi dalam penggunaannya untuk mengurangi
 Energi                 dampak negatif terhadap lingkungan hidup.
                                                                                                                  √            √
 Energy                 The operational activities of the Company and its Subsidiaries consume a huge
                        amount of energy so an efficiency on its usage is necessary to reduce the negative
                        impacts on the environment.




Verifikasi oleh Pihak Independen                                       Independent Verification

Laporan Tahunan ini belum diverifikasi (assurance) oleh pihak          This Annual Report has not been verified (assurance) by
independen. Namun, Perseroan memastikan bahwa laporan                  an independent party. However, the Company ensures
ini telah bersumber dari data yang benar dan mampu                     that this report is sourced from correct and accountable
dipertanggungjawabkan, serta disajikan sesuai dengan                   data, as well as presented according to the sustainability
prinsip-prinsip keberlanjutan. Ke depannya, Perseroan akan             principles. Going forward, the Company will consider
mempertimbangkan untuk melaksanakan assurance guna                     implementing assurance to improve the quality of the report
meningkatkan kualitas laporan yang dihasilkan.                         produced.




                                                                                                  Laporan Tahunan 2023
                                                                                                     2023 Annual Report             13
Page 16
     01
02

03

04

05

06




     KILAS
     KINERJA

     Laporan Tahunan 2023
14   2023 Annual Report
Page 17
Performance Highlights



       Laporan Tahunan 2023
          2023 Annual Report   15
Page 18
01                KILAS KINERJA
                  Performance Highlights




Ikhtisar Kinerja Keberlanjutan
Sustainability Performance Highlights

Keberlanjutan Kinerja Keuangan dan Operasional
Financial and Operational Performance Sustainability

Laporan Posisi Keuangan Konsolidasian
Consolidated Financial Positions

                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                      Uraian                    2023           2022              2021*)                           Description

 Aset                                                                                                                                        Assets
 Kas dan Bank - Bersih                          9,533,705      6,623,632         6,413,194                                   Cash and Bank - Net
                                                                                                   Securities Purchased Under Agreement to
 Efek yang Dibeli dengan Janji Jual Kembali             -                 -      1,672,987
                                                                                                                                    Resell
 Investasi Jangka Pendek - Bersih              62,919,564    66,692,215         69,015,423                         Short-Term Investment - Net
 Piutang Pembiayaan Multiguna - Bersih          1,436,026      1,783,300         2,042,898         Multi-Purpose Financing Receivables - Net
 Piutang Sewa Pembiayaan - Bersih                175,297         250,551           300,613                   Financing Lease Receivables - Net
 Piutang Pembiayaan Modal Kerja Skema                                                                   Working Capital Financing Receivables
                                                2,513,517      3,591,010         2,816,748
 Anjak Piutang - Bersih                                                                                               Factoring Scheme - Net
 Piutang Premi dan Reasuransi - Bersih          1,861,049      2,301,467         1,889,817       Premium and Reinsurance Receivables - Net
 Kredit yang Diberikan - Bersih                15,086,293    12,698,632         16,067,805                                  Loan Disbursed - Net
 Tagihan Akseptasi - Bersih                       78,304          77,389           247,165                         Acceptance Receivables - Net
 Aset Ijarah - Bersih                            433,902         472,029           398,651                                      Ijarah Assets - Net
 Piutang Transaksi Efek                          154,722         584,186           385,163                  Securities Transaction Receivables
 Piutang Lain-Lain - Bersih                     2,982864       3,488,681         1,569,255                               Other Receivables - Net
 Aset Reasuransi                                3,933,978      3,839,933         2,820,547                                    Reinsurance Assets
 Investasi dalam Saham - Bersih                 3,349,804      3,042,068         2,980,272                            Investment in Shares - Net
 Properti Investasi - Bersih                     413,669         422,684           433,791                         Investment in Property - Net
 Aset Tetap - Bersih                            2,744,994      2,770,660         3,213,556                                      Fixed Assets - Net
 Agunan yang Diambil Alih - Bersih               274,353         395,235           434,926                            Foreclosed Collateral - Net
 Aset Pajak Tangguhan                            375,773         350,626           242,245                                   Deferred Tax Assets
 Aset Lain-lain                                 5,698,196      5,022,505         4,564,943                                            Other Assets
 Total Aset                                   113,966,010   114,406,803       117,509,999                                             Total Assets
 Liabilitas dan Ekuitas                                                                                                 Liabilities and Equities
 Liabilitas                                                                                                                              Liabilities
 Simpanan dan Simpanan dari Bank Lain          40,950,205    36,547,511         42,257,556          Deposits and Deposits from Other Banks
                                                                                                           Securities Sold Under Agreement to
 Efek yang Dijual dengan Janji Beli Kembali     1,051,717                 -                 -
                                                                                                                                  Repurchase
 Utang Asuransi                                 1,368,726      2,108,042           585,618                                    Insurance Payables
 Liabilitas Kontrak Penjaminan dan Premi                                                            Liabilities of the Guarantee and Premium
                                                3,889,571      3,200,370         3,414,575
 Diterima di Muka                                                                                                Contracts Received in Advance
 Liabilitas Manfaat Polis Masa Depan             367,502         263,801           179,627                       Future Policy Benefit Liabilities
 Dana Pemegang Polis - Unit Link               20,767,188    26,345,175         31,312,930                         Policyholder Fund - Unit Link
 Liabilitas Kontrak Asuransi                     480,686         122,076           139,335                         Insurance Contract Liabilities
 Premi Belum Merupakan Pendapatan dan                                                                Unearned Premium and Claim Liabilities
                                                6,915,357      6,781,509         6,289,395
 Estimasi Liabilitas Klaim                                                                                                     Estimation
 Liabilitas Akseptasi                             79,880          78,065           250,424                                  Acceptance Liabilities
 Utang Transaksi Efek                             86,341         518,318           306,591                      Securities Transaction Payables
 Utang Pajak                                     120,322         385,722           119,985                                            Tax Payables
 Beban Akrual                                    332,181         290,866           237,008                                      Accrual Expenses
 Surat Berharga yang Diterbitkan                8,390,304      7,002,503         4,064,785                                       Securities Issued
 Pinjaman yang Diterima                         2,086,386      3,687,007         3,485,895                                         Received Loans




                  Laporan Tahunan 2023
  16              2023 Annual Report
Page 19
                                                                                         PT SINAR MAS MULTIARTHA TBK




                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                        Uraian                  2023           2022              2021*)                           Description

 Liabilitas Pajak Tangguhan                         4,765         10,933             12,860                               Deferred Tax Liabilities
 Liabilitas Imbalan Kerja Jangka Panjang          148,681        127,617           135,683             Long-Term Employee Benefit Liabilities
                                                                                                       Reserved Profit Sharing Distribution to
 Cadangan Bagi Hasil Peserta                       21,614         20,320             31,710
                                                                                                                                  Participants
 Liabilitas Lain-Lain                           2,076,038      3,241,908         1,903,738                                        Other Liabilities
 Total Liabilitas                              89,137,464    90,731,743         94,727,715                                        Total Liabilities
 Ekuitas                                                                                                                                   Equities
 Modal Dasar                                    1,334,891      1,334,891         1,334,891                                     Authorized Capital
 Tambahan Modal Disetor - Bersih                1,647,520      1,647,520         1,647,520                      Additional Paid-Up Capital - Net
 Komponen Ekuitas Lainnya                         369,386        425,816           335,935                            Other Equity Components
 Saldo Laba                                                                                                                     Retained Earnings
   Ditentukan Penggunanya                         791,607        791,607           791,607                                        Appropriated
   Tidak Ditentukan Penggunanya                18,136,270    17,004,706         16,162,858                                     Unappropriated
 Kepentingan Non-Pengendali                     2,548,872      2,470,520         2,509,473                             Non-Controlling Interests
 Total Ekuitas                                 24,828,546    23,675,060         22,782,284                                          Total Equities
 Total Liabilitas dan Ekuitas                 113,966,010   114,406,803       117,509,999                        Total Liabilities and Equities




Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian
Consolidated Profit or Loss and Other Comprehensive Income

                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                        Uraian                  2023           2022              2021                             Description
 Pendapatan                                   26,930,150    33,188,103         38,533,098                                                   Income
 Beban                                        25,645,893    31,940,788         37,394,008                                                 Expenses
 Laba Sebelum Pajak                            1,284,257      1,247,315         1,139,090                                        Profit Before Tax
 Beban (Manfaat) Pajak                            95,542        345,315           147,310                                Tax Expenses (Benefits)
 Laba Tahun Berjalan                           1,188,715        902,000           991,780                                       Profit for the Year
 Penghasilan (Rugi) Komprehensif Lain            109,683         (9,025)         (432,120)                Other Comprehensive Income (Loss)
 Jumlah Penghasilan Komprehensif               1,298,398        892,975           559,660                         Total Comprehensive Income
 Laba Bersih Teratribusikan kepada:                                                                                    Net Profit Attributable to:
   Pemilik Entitas Induk                       1,168,946        844,563           948,100                             Owners of Parent Entity
   Kepentingan Non-Pengendali                     19,769         57,437             43,680                           Non-Controlling Interest
 Penghasilan Komprehensif Teratribusikan
                                                                                                      Comprehensive Income Attributable to:
 kepada:
   Pemilik Entitas Induk                       1,154,288        931,448           607,124                             Owners of Parent Entity
   Kepentingan Non-Pengendali                    144,110        (38,473)          (47,464)                           Non-Controlling Interest
 Laba Bersih per Saham (dalam Rupiah penuh)
                                                     184             133                 (3)            Net Earnings per Share (in full Rupiah)
 Dasar




Laporan Arus Kas Konsolidasian
Consolidated Statement of Cash Flows

                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                        Uraian                  2023           2022              2021*)                           Description

 Arus Kas dari (Digunakan untuk) Aktivitas                                                         Cash Flow Provided by (Used in) Operating
                                               6,981,396    (6,459,095)        9,996,362
 Operasi                                                                                                                            Activities

 Arus Kas dari (Digunakan untuk) Aktivitas                                                          Cash Flow Provided by (Used in) Investing
                                                  71,283      (289,533)         (322,595)
 Investasi                                                                                                                          Activities

 Arus Kas dari (Digunakan untuk) Aktivitas                                                         Cash Flow Provided by (Used in) Financing
                                              (2,538,082)     2,514,763         (592,533)
 Pendanaan                                                                                                                          Activities




                                                                                                      Laporan Tahunan 2023
                                                                                                         2023 Annual Report                    17
Page 20
01              KILAS KINERJA
                Performance Highlights




Rasio Keuangan
Financial Ratio

                                                                                                                                             (dalam % / in %)


                    Uraian                                2023                 2022          2021*)                       Description

 Rasio Laba terhadap Total Aset (ROA)                       1.04                 0.79          0.84                             Return on Assets (ROA)

 Rasio Laba terhadap Total Ekuitas (ROE)                    4.79                 3.81          4.35                             Return on Equity (ROE)

 Rasio Laba Bersih terhadap Pendapatan                      4.41                 2.72          2.57                                    Net Income Ratio

 Rasio Beban Operasional terhadap                                                                            Operating Expenses to Operating Income
                                                           95.23                96.24         97.04
 Pendapatan Operasional (BOPO)                                                                                                         Ratio (BOPO)

 Rasio Lancar                                             127.85               126.09        124.05                                        Current Ratio

 Rasio Liabilitas terhadap Aset                            78.21                79.31         80.61                                   Debt to Asset Ratio

 Rasio Liabilitas terhadap Ekuitas                        359.01               383.24        415.80                                 Debt to Equity Ratio




TOTAL ASET                                                                            TOTAL LIABILITAS
Total Assets                                                                          Total Liabilities

                                   (dalam jutaan Rupiah / in million Rupiah)                                        (dalam jutaan Rupiah / in million Rupiah)



                     117,510 114,407 113,966                                                              94,728
                                                                                                                   90,732    89,137




                     2021         2022      2023                                                          2021     2022      2023




PENDAPATAN                                                                            LABA TAHUN BERJALAN
Income                                                                                Profit for the Year

                                   (dalam jutaan Rupiah / in million Rupiah)                                        (dalam jutaan Rupiah / in million Rupiah)



                     38,533                                                                                                   1,189
                                  33,188                                                                   992
                                                                                                                    902
                                            26,930




                     2021         2022      2023                                                          2021     2022      2023




                Laporan Tahunan 2023
  18            2023 Annual Report
Page 21
                                                                                        PT SINAR MAS MULTIARTHA TBK




JUMLAH PENGHASILAN KOMPREHENSIF                                              RASIO LABA TERHADAP TOTAL ASET
Total Comprehensive Income                                                   Return on Assets

                         (dalam jutaan Rupiah / in million Rupiah)                                                         (dalam % / in %)



                                   1,298                                                                       1.04

                                                                                                0.84
                                                                                                       0.79
                         893


                   560




               2021      2022     2023                                                      2021       2022   2023




RASIO LABA TERHADAP TOTAL EKUITAS                                            RASIO LABA TERHADAP PENDAPATAN
Return on Equity                                                             Net Income Ratio

                                                 (dalam % / in %)                                                          (dalam % / in %)



                                   4.79                                                                        4.41
                4.35
                         3.81

                                                                                                2.57   2.72




               2021      2022     2023                                                      2021       2022   2023




RASIO BEBAN OPERASIONAL TERHADAP PENDAPATAN OPERASIONAL
Ratio of Operating Expenses to Operating Income

                                                                                                                           (dalam % / in %)



                                                       97.04         96.24     95.23




                                                      2021           2022      2023




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report           19
Page 22
01                KILAS KINERJA
                  Performance Highlights




Ikhtisar Operasional
Operational Highlights

                                                                         (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                       Uraian                              2023                 2022          2021                               Description
     Pendapatan                                                                                                                                          Income
     Underwriting Asuransi                              19,083,572         25,733,198        31,027,423                               Insurance Underwriting
     Pembiayaan Konsumen, Piutang Sewa                                                                                  Consumer Finance, Financing Lease
                                                          1,261,622              975,185      2,077,538
     Pembiayaan, dan Anjak Piutang                                                                                             Receivables, and Factoring
     Jasa Biro Administrasi Efek                             12,425               15,113           8,193         Securities Administration Bureau Services
     Jasa Penjaminan Emisi dan Perantara                                                                      Securities Brokerage and Underwriting, and
                                                            608,009              608,294         492,499
     Pedagang Efek, serta Jasa Manajer Investasi                                                                            Investment Manager Services
     Perbankan                                            4,434,153             4,058,641     4,243,350                                                 Banking
     Pembangunan, Perdagangan, dan Jasa                   1,355,716              604,368         515,336                Construction, Trading, and Services
     Pembiayaan Berkelanjutan                                                                                                         Sustainable Financing
     Pembiayaan Hijau1)                                   2,390,568             6,246,180     6,252,464                                      Green Financing*)
     Pelibatan Pemasok Lokal2)                                                                                              Local Supplier Engagement**)
     Pemasok Lokal (Entitas)                                   4,035               5,379           3,219                          Local Supplier (Subsidiaries)
1)
   Data KKUB PT Bank Sinarmas Tbk dan PT Sinar Mas Multifinance. / KKUB data of PT Bank Sinarmas Tbk and PT Sinar Mas Multifinance.
2)
   Data Entitas Anak PT Sinar Mas Multifinance, PT Sinarmas Sekuritas, dan PT Pasar Dana Pinjaman. / Data of Subsidiaries PT Sinar Mas Multifinance, PT Sinarmas
   Sekuritas, and PT Pasar Dana Pinjaman.




UNDERWRITING ASURANSI                                                                  PERBANKAN
Insurance Underwriting                                                                 Banking

                                    (dalam jutaan Rupiah / in million Rupiah)                                             (dalam jutaan Rupiah / in million Rupiah)



                          31,027                                                                                                    4,434
                                                                                                             4,243
                                                                                                                         4,059
                                   25,733

                                             19,084




                          2021     2022       2023                                                           2021       2022        2023



JASA BIRO ADMINISTRASI EFEK                                                            PEMBANGUNAN, PERDAGANGAN, DAN JASA
Securities Administration Bureau Services                                              Construction, Trading, and Services

                                    (dalam jutaan Rupiah / in million Rupiah)                                             (dalam jutaan Rupiah / in million Rupiah)



                                     15                                                                                             1,356

                                                12


                             8
                                                                                                                          604
                                                                                                              515




                          2021     2022       2023                                                           2021       2022        2023




                   Laporan Tahunan 2023
      20           2023 Annual Report
Page 23
                                                                                                        PT SINAR MAS MULTIARTHA TBK




PEMBIAYAAN KONSUMEN, PIUTANG                                                              JASA PENJAMINAN EMISI DAN PERANTARA
SEWA PEMBIAYAAN, DAN ANJAK                                                                PEDAGANG EFEK, SERTA JASA MANAJER
PIUTANG                                                                                   INVESTASI
Consumer Finance, Financing Lease                                                         Securities Brokerage and Underwriting,
Receivables, and Factoring                                                                and Investment Manager Services

                                      (dalam jutaan Rupiah / in million Rupiah)                                           (dalam jutaan Rupiah / in million Rupiah)



                           2,078                                                                                          608        608

                                                                                                                492

                                                1,262
                                      975




                           2021     2022       2023                                                             2021     2022      2023



PEMBIAYAAN HIJAU
Green Financing

                                                                                                                          (dalam jutaan Rupiah / in million Rupiah)



                                                                     6,252        6,246




                                                                                              2,391




                                                                     2021         2022        2023



Keberlanjutan Kinerja Sosial
Social Performance Sustainability

                                                             Satuan
                       Uraian                                                     2023        2022     2021                     Description
                                                              Unit
     Pengelolaan Karyawan                                                                                                           Employee Management
     Total Karyawan                                                                   56         50       41                                   Total Employee
                                                             Orang
     Total Karyawan Pria                                                              38         40       32                             Total Male Employee
                                                            Employee
     Total Karyawan Wanita                                                            18         10        9                          Total Female Employee
     Tingkat Perputaran Karyawan                                 %                 13.21       46.15    31.17                              Employee Turnover
     Pengembangan Sosial dan                                                                                                         Social and Community
     Kemasyarakatan1)                                                                                                                        Development*)
     Kegiatan Pengembangan Sosial dan                   Kategori Program                                               Social and Community Development
                                                                                          7       7        7
     Kemasyarakatan                                     Program Category                                                                         Activity
     Biaya Pelaksanaan Pengembangan Sosial               jutaan Rupiah                                                 Social and Community Development
                                                                                   4,275       3,360   16,791
     dan Kemasyarakatan                                  million Rupiah                                                              Implementation Cost
1)
     Data Perseroan dan beberapa Entitas Anak sebagaimana diungkapkan pada Bab Laporan Keberlanjutan. / Data from the Company and several Subsidiaries’ as
     disclosed in the Sustainability Report Chapter




                                                                                                                   Laporan Tahunan 2023
                                                                                                                      2023 Annual Report                   21
Page 24
01                    KILAS KINERJA
                      Performance Highlights




Keberlanjutan Kinerja Lingkungan
Environmental Performance Sustainability


                                                      Satuan
                       Uraian                                             2023          2022           2021                      Description
                                                       Unit

     Biaya Penggunaan Sumber Daya1)                                                                                           Resources Utilization Cost1)
     Listrik                                      jutaan Rupiah           32,723          62,462         61,279                                     Electricity
                                                  million Rupiah
     Air                                                                  63,414            6,119         3,488                                         Water
     Bahan Bakar Minyak                                                    2,967          22,620         26,410                                           Fuel
     Jumlah Limbah      2)
                                                                                                                                               Total Waste2)
     Kertas                                              ton              10.633)           8.093)        7.253)                                        Paper
1)
   Data Perseroan dan Entitas Anak secara konsolidasi. / Consolidated data from the Company and its Subsidiaries.
2)
   Data Entitas Anak PT Bank Sinarmas Tbk, PT Asuransi Sinar Mas, dan PT Pasar Dana Pinjaman. / Subsidiaries Data of PT Bank Sinarmas Tbk, PT Asuransi Sinar Mas,
   and PT Pasar Dana Pinjaman.
3)
   Perhitungan Kembali. / Recalculation




Ikhtisar Saham
Share Highlights

                                           Harga                             Jumlah Saham
                                                                                                                                           Kapitalisasi
                                           Price                                Beredar                  Volume Transaksi
                                                                                                                                         Pasar Tertinggi
            Periode                                                            (Lembar)                      (Lembar)
                             Tertinggi   Terendah         Penutupan                                                                      Highest Market
            Period                                                          Total Number of             Transaction Volume
                              Highest     Lowest           Closing                                                                        Capitalization
                                                                              Outstanding                     (Shares)
                               (Rp)        (Rp)              (Rp)                                                                              (Rp)
                                                                                (Shares)

     2023
     January                  12,800        11,800             12,600          6,367,664,717                       26,200               80,232,575,434,200
     February                 12,650        11,850             12,650          6,367,664,717                       11,200               80,550,958,670,050
     March                    12,800        12,025             12,750          6,367,664,717                        4,900               81,187,725,141,750
     April                    12,800        12,275             12,800          6,367,664,717                        7,000               81,506,108,377,600
     May                      12,900        12,500             12,800          6,367,664,717                        3,000               81,506,108,377,600
     June                     13,500        10,975             12,800          6,367,664,717                       14,600               81,506,108,377,600
     July                     13,100        12,800             13,000          6,367,664,717                    178,900                 82,779,641,321,000
     August                   12,925        12,900             12,900          6,367,664,717                       22,900               82,142,874,849,300
     September                12,950        12,950             12,950          6,367,664,717                         500                82,461,258,085,150
     October                  15,400        11,575             14,475          6,367,664,717                       21,400               92,171,946,778,575
     November                 14,500        14,400             14,475          6,367,664,717                        2,200               92,171,946,778,575
     December                 14,500        12,775             14,500          6,367,664,717                    194,400                 92,331,138,396,500




                      Laporan Tahunan 2023
       22             2023 Annual Report
Page 25
                                                                            PT SINAR MAS MULTIARTHA TBK




                                Harga                  Jumlah Saham
                                                                                                                Kapitalisasi
                                Price                     Beredar               Volume Transaksi
                                                                                                              Pasar Tertinggi
       Periode                                           (Lembar)                   (Lembar)
                 Tertinggi    Terendah   Penutupan                                                            Highest Market
       Period                                         Total Number of          Transaction Volume
                  Highest      Lowest     Closing                                                              Capitalization
                                                        Outstanding                  (Shares)
                   (Rp)         (Rp)        (Rp)                                                                    (Rp)
                                                          (Shares)

2022
January           12,000        10,975      12,000      6,367,664,717                  12,800             76,411,976,604,000
February          12,500        11,200      12,050      6,367,664,717                  12,300             76,730,359,839,850
March             12,050        11,225      12,050      6,367,664,717                   3,200             76,730,359,839,850
April             12,050        11,325      12,000      6,367,664,717                   4,800             76,411,976,604,000
May               12,100        11,400      12,100      6,367,664,717                  11,500             77,048,743,075,700
June              12,100        11,300      12,100      6,367,664,717                   4,100             77,048,743,075,700
July              12,300        11,700      12,300      6,367,664,717                   3,900             78,322,276,019,100
August            12,200        11,475      12,200      6,367,664,717                  23,400             77,685,509,547,400
September         12,300        12,175      12,300      6,367,664,717                   6,600             78,322,276,019,100
October           12,300        12,050      12,300      6,367,664,717                   3,300             78,322,276,019,100
November          12,400        11,500      12,400      6,367,664,717                  18,400             78,959,042,490,800
December          12,650        11,575      12,550      6,367,664,717                  59,200             79,914,192,198,350




Volume Perdagangan (Lembar Saham)                                                                    Harga Penutupan (Rp)
Trading Volume (Shares)                                                                                  Closing Price (Rp)

200,000                                                                                                                16,000

180,000
                                                                                                                       14,000
160,000
                                                                                                                       12,000
140,000
                                                                                                                       10,000
120,000

100,000                                                                                                                8,000

 80,000
                                                                                                                       6,000
 60,000
                                                                                                                       4,000
 40,000
                                                                                                                       2,000
 20,000

         0                                                                                                             -
          ay




                                                                          ay
          ar




                                 ov




                                                                 ar




                                                                                                         ov
                                  g




                                                                                         g
                                 ec




                                                                                                              ec
           r
           b




                                  p




                                                                      r
                                                          b




                                                                                                p
                                 ct




                                                                                                    ct
           n




                                                                                 n
           n




                                  n
                                  l




                                                                                  l
        Ap




                                                                  Ap
                               Au




                                                                                       Au
                               Ju




                                                                               Ju
        Fe




                               Se




                                                         Fe




                                                                                            Se
        Ju




                                                                            Ju
        Ja




                               Ja
        M




                                                              M
                               O




                                                                                                 O
        M




                                                                        M
                               D
                               N




                                                                                                          D
                                                                                                     N




                             2022                                               2023

                             Volume Perdagangan (Lembar Saham)                   Harga Penutupan (Rp)
                             Trading Volume (Shares)                             Closing Price (Rp)




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report               23
Page 26
01               KILAS KINERJA
                 Performance Highlights




Aktivitas Perdagangan Saham                                                           Stock Trading Activities

Pada tahun 2023, Perseroan tidak mengalami permasalahan                               In 2023, the Company did not experience any problems
dalam perdagangan saham, seperti penghentian perdagangan                              in share trading, such as temporary suspension of share
saham sementara dan penghapusan pencatatan saham.                                     trading and delisting of shares.



Aksi Korporasi                                                                        Corporate Action

Pada tanggal 7 Maret 2023, Perseroan menerbitkan Obligasi                             On 7 March 2023, the Company issued the Sinar Mas
Berkelanjutan II Sinar Mas Multiartha Tahap IV Tahun 2023                             Multiartha Sustainable Bonds II Phase IV Year 2023
sebesar Rp784.719 juta. Selain penerbitan dan penawaran                               amounting to Rp784,719 million. Aside from issuing and
obligasi, Perseroan tidak melakukan aksi korporasi lain,                              offering of bonds, the Company did not undertake any
baik berupa pemecahan saham, penggabungan saham,                                      other corporate actions, including stock splits, reverse stock
pembagian dividen saham dan saham bonus, penerbitan                                   split, dividend distributions in shares and bonus shares,
efek konversi, serta perubahan nilai nominal saham atau                               issuance of convertible securities, as well as changes in
jumlah saham beredar.                                                                 nominal share value or the number of outstanding shares.




Ikhtisar Obligasi
Bonds Highlights

Obligasi yang diterbitkan dan dibayar Perseroan di tahun 2023                         The bonds issued and settled/paid by the Company in 2023
diungkapkan pada tabel berikut.                                                       are disclosed in the following table.


                                        Total Obligasi
                                                                    Tanggal             Tanggal Jatuh          Tingkat Bunga Kupon     Peringkat
             Uraian                    (jutaan Rupiah)
                                                                     Efektif               Tempo               Coupon Interest Rate     Obligasi
           Description                   Total Bonds
                                                                 Effective Date         Maturity Date                   (%)           Bonds Rating
                                       (million Rupiah)

 Obligasi Berkelanjutan II Sinar
 Mas Multiartha Tahap II Tahun
 2022 Seri A
                                              429,350            27 August 2022         6 September 2023                     6.75          AA
 Sinar Mas Multiartha                                                                                                                     Ir

 Sustainable Bond II Phase II
 Year 2022 A Series
 Obligasi Berkelanjutan II Sinar
 Mas Multiartha Tahap IV
 Tahun 2023
                                              784,719             7 March 2023            7 March 2033                       10.50         AA
 Sinar Mas Multiartha                                                                                                                     Ir

 Sustainable Bond II Phase IV
 Year 2023
Keterangan / Remarks:
Peringkat Obligasi dicatatkan oleh PT Kredit Rating Indonesia. / Bonds Ratings are recorded by PT Kredit Rating Indonesia.




                 Laporan Tahunan 2023
   24            2023 Annual Report
Page 27
                                                                                                                                                           PT SINAR MAS MULTIARTHA TBK




Penghargaan
Awards




    Top Leader on CSR Commitment 2023                                                                                         The Most Committed GRC Leader 2023

           Penyelenggara / Organizer:                                                                                                                       Penyelenggara / Organizer:
                 Top Business                                                                                                                                Top Business Magazine
             Penerima / Recipient:                                                                                                   Penerima / Recipient:
   Howen Widjaja selaku Komisaris Perseroan                                                                                Howen Widjaja selaku Komisaris Perseroan
  Howen Widjaja, Commissioner of the Company                                                                              Howen Widjaja, Commissioner of the Company




KEANGGOTAAN ASOSIASI
Association Membership


                                                         231218-30285692                               20201-2130285692                   2024-12-15




                                                                                PT PT SINAR MAS MULTIARTHA TBK                    Aktivitas Jasa Lainnya


                                                                                BURHANUDDIN ABDULLAH                              Direktur Utama
                                                                                Menara Tekno Lt.7jl. Kh. Fachrudin
                                                                                No.19kampung Bali - Tanah Abangjakarta            10250
                                                                                Pusat
                                                                                Usaha Besar                                       01.362.002.6-054.000


                                                                                0208011002222                                     64999




                                                                           KOTA JAKARTA PUSAT                             DKI JAKARTA




                                              RH. Victor Aritonang                       Diana Dewi
                                                     Ketua                                Ketua Umum




                                     Kamar Dagang dan Industri
                                 Chambers of Commerce and Industry

                                        Skala Asosiasi / Association Scale:
                                              Nasional / National
                                    Posisi Perseroan / Company’s Position:
                                              Anggota / Member




                                                                                                                                                                  Laporan Tahunan 2023
                                                                                                                                                                     2023 Annual Report   25
Page 28
01          KILAS KINERJA
            Performance Highlights




Peristiwa Penting
Significant Events




 MARET / March

      Pada tanggal 7 Maret 2023, Perseroan menerbitkan Obligasi       On 7 March 2023, the Company issued Sinar Mas Multiartha
      Berkelanjutan II Sinar Mas Multiartha Tahap IV Tahun 2023       Sustainable Bond II Phase IV Year 2023, amounting to
      sebesar Rp784.719 juta, dengan tingkat bunga tetap sebesar      Rp784.719 billion, with a fixed interest rate of 10.50%
      10,50% per tahun yang dibayarkan setiap 3 bulan. Obligasi       per annum, payable every 3 months. The maturity date
      Berkelanjutan II Sinar Mas Multiartha Tahap IV Tahun 2023       for Sinar Mas Multiartha Sustainable Bond II Phase
      akan jatuh tempo pada tanggal 7 Maret 2033. Berdasarkan         IV Year 2023 is 7 March 2033. According to PT Kredit
      surat PT Kredit Rating Indonesia tanggal 25 Januari 2023,       Rating Indonesia’s letter dated 25 January 2023, Sinar
      Obligasi Berkelanjutan II Sinar Mas Multiartha Tahun 2023       Mas Multiartha Sustainable Bond II Phase IV Year 2023
      memperoleh peringkat AA (Double A); serta                       received a AA (Double A) rating; and

      Perseroan memberikan pinjaman Pemegang Saham kepada             The Company provided Shareholder loans to PT Sinar
      PT Sinar Mas Multifinance sebesar Rp360 miliar dan kepada       Mas Multifinance amounting to Rp360 billion and to PT AB
      PT AB Sinar Mas Multifinance sebesar Rp350 miliar. Dana         Sinar Mas Multifinance amounting to Rp350 billion.
      pinjaman tersebut berasal dari Realisasi Dana Penawaran         These loan funds were sourced from the proceeds of the
      Umum Berkelanjutan Obligasi II Sinar Mas Multiartha Tahap       Realization of Sinar Mas Multiartha Sustainable Bond II Phase
      IV Tahun 2023.                                                  IV Year 2023.


 APRIL / April

      Pada tanggal 11 April 2023, para Pemegang Saham, termasuk       On 11 April 2023, the Shareholders including the Company
      Perseroan, melikuidasi Entitas Anak, yaitu PT Otoraja Network   liquidated a Subsidiary, PT Otoraja Network Indonesia
      Indonesia (PT ONI) yang sahamnya dimiliki Perseroan sebesar     (PT ONI), in which the Company owns 15% and is currently in
      15% dan saat ini masih dalam proses likuidasi.                  the process of liquidation.


 JUNI / June

      Pada tanggal 9 Juni 2023, Perseroan melakukan tambahan          On 9 June 2023, the Company made an additional capital
      setoran modal kepada Entitas Anak, PT Sinar Mas Multifinance,   injection to its subsidiary, PT Sinar Mas Multifinance,
      sebesar Rp360 miliar.                                           amounting to Rp360 billion.

      Pada tanggal 27 Juni 2023, Perseroan mengadakan RUPS            On 27 June 2023, the Company held Annual GMS and
      Tahunan dan RUPS Luar Biasa.                                    Extraordinary GMS.




            Laporan Tahunan 2023
 26         2023 Annual Report
Page 29
                                                                               PT SINAR MAS MULTIARTHA TBK




JULI / July

  Pada tanggal 17 Juli 2023, Perseroan melakukan tambahan          On 17 July 2023, the Company made an additional capital
  setoran modal pada Entitas Anak, yaitu PT Rizki Lancar Sentosa   deposit in its Subsidiary, PT Rizki Lancar Sentosa amounting
  sebesar Rp8 miliar; serta                                        to Rp8 billion; and

  Pada tanggal 31 Juli 2023, Perseroan telah melakukan             The Company has acquired all shares of PT Pasar Dana Pinjaman
  pembelian seluruh saham PT Pasar Dana Pinjaman (Danamas)         (Danamas) amounting to Rp705 billion from Itochu Corporation,
  sebesar Rp705 miliar dari Itochu Corporation, serta penjualan    and sold 1 share of Danamas to one of the Company’s
  1 lembar saham Danamas kepada salah satu Entitas Anak            Subsidiaries, PT Digital Solusindo Nusantara.
  Perseroan, yaitu PT Digital Solusindo Nusantara.


OKTOBER / October

  Perseroan telah menjual 1 lembar saham PT Simas Sehat            The Company has sold 1 share of PT Simas Sehat Sejahtera to
  Sejahtera kepada PT Wapindo Jasaartha; serta                     PT Wapindo Jasaartha; and

  Perseroan telah melakukan Keterbukaan Informasi tentang          The Company has disclosed its plan to participate in capital
  rencana Perseroan untuk melakukan penyertaan modal/investasi     investment in PT Paramitra Multifinance (PMF), engaged in
  pada PT Paramitra Multifinance (PMF) yang bergerak dalam         financing, by acquiring 15% or approximately Rp60 billion of
  bidang pembiayaan sebanyak 15% atau lebih kurang sebesar         PMF’s issued capital.
  Rp60 miliar dari jumlah modal yang dikeluarkan oleh PMF.


DESEMBER / December

  Perseroan melakukan penjualan seluruh saham PT Bima              The Company has sold all shares of PT Bima Multi Finance,
  Multi Finance, yaitu sebanyak 53.125.267 lembar saham            totaling 53,125,267 shares, at a price of Rp5,312,565,700,- to
  dengan harga sebesar Rp5.312.565.700,- kepada Cedar              Cedar Street Limited, based in Hong Kong; and
  Street Limited yang berkedudukan di Hongkong; serta

  Pada tanggal 18 Desember 2023, Perseroan menyelenggarakan        On 18 December 2023, the Company conducts Public
  Paparan Publik.                                                  Expose.




                                                                                         Laporan Tahunan 2023
                                                                                            2023 Annual Report            27
Page 30
01

     02
03

04

05

06




     LAPORAN
     MANAJEMEN

     Laporan Tahunan 2023
28   2023 Annual Report
Page 31
Management Report



   Laporan Tahunan 2023
      2023 Annual Report   29
Page 32
02          LAPORAN MANAJEMEN
            Management Report




Laporan
Dewan Komisaris
Report from the Board of
Commissioners
“Dewan Komisaris mengapresiasi upaya Perseroan yang berhasil
mengimplementasikan strategi yang tepat dan menjaga kinerja yang
baik di tengah kondisi ekonomi global yang tidak pasti.”
“The Board of Commissioners appreciates the Company's efforts
for successfully implementing the right strategy as well as maintaining
good performance amidst uncertain global economic conditions.”




Fuganto Widjaja
Komisaris Utama / President Commissioner




Pemegang Saham dan Pemangku Kepentingan yang Terhormat,
Dear Esteemed Shareholders and Stakeholders,

Sebagai wujud transparansi dan akuntabilitas, Dewan          As a form of transparency and accountability,
Komisaris PT Sinar Mas Multiartha Tbk dengan penuh rasa      the Board of Commissioners of PT Sinar Mas Multiartha
syukur menyampaikan laporan pertanggungjawaban untuk         Tbk gratefully submitted the accountability report for the
tahun yang berakhir pada tanggal 31 Desember 2023. Laporan   year ending 31 December 2023. The report serves as a
ini mencerminkan komitmen kami dalam menjalankan fungsi      reflection of our commitment in carrying out the monitoring
pengawasan dan pemberian nasihat seputar arahan strategis    and advisory functions over the strategic directions
guna memastikan keberlanjutan operasional dan pertumbuhan    in ensuring the Company’s operational sustainability
yang berkelanjutan bagi Perseroan. Dalam laporan ini, kami   and sustainable growth for. In this report, we will be
akan membahas berbagai aspek kinerja Perseroan sepanjang     discussing various aspects of the Company's performance
tahun 2023, termasuk pencapaian, tantangan, serta langkah-   throughout 2023, as well as the achievements, challenges,
langkah yang diambil manajemen untuk menghadapi dinamika     and measures taken by the management to face the
pasar yang kompleks. Dengan keyakinan akan masa depan        complex market dynamics. With confidence in a bright
yang cerah, kami berharap laporan ini dapat memberikan       future, we sincerely hope that this report will be able to
pemahaman yang komprehensif kepada seluruh pemangku          provide a comprehensive understanding for all stakeholders
kepentingan mengenai kontribusi Perseroan dalam mencapai     regarding the Company's contribution in achieving
tujuan keberlanjutan.                                        the sustainability goals.




            Laporan Tahunan 2023
  30        2023 Annual Report
Page 33
                                                                PT SINAR MAS MULTIARTHA TBK




Penilaian Kinerja Direksi dan
Implementasi Strategi Perseroan

Dalam menjalankan tugas dan tanggung jawab pengawasan,
Dewan Komisaris telah melakukan evaluasi yang cermat
terhadap berbagai aspek yang memengaruhi kinerja
dan strategi Perseroan. Direksi dinilai atas pencapaian
tujuan strategis jangka pendek maupun jangka panjang,
kinerja operasional, manajemen risiko, serta kepatuhan
terhadap peraturan dan prinsip tata kelola yang baik.
Evaluasi ini dilakukan dengan mempertimbangkan kondisi
pasar yang dinamis dan berbagai faktor eksternal lainnya
yang berpotensi memengaruhi bisnis Perseroan.


Berdasarkan evaluasi yang dilakukan, Dewan Komisaris
memberikan apresiasi atas kinerja Direksi dalam menghadapi
tantangan dan mencapai berbagai kinerja positif sepanjang
tahun 2023. Implementasi strategi Perseroan juga dinilai
berjalan dengan baik, terutama dalam menghadapi perubahan
lingkungan bisnis yang cepat dan kompleks. Direksi diharapkan
terus memperkuat strategi-strategi yang telah teruji sambil
senantiasa memperhatikan saran serta rekomendasi
dari Dewan Komisaris, untuk meningkatkan kinerja dan
keberlanjutan Perseroan di masa yang akan datang.



Assessment of Board of Directors’
Performance and Business Strategies
Implementation

In conducting the supervisory duties and responsibilities,
Board of Commissioners has done a thorough evaluation
of various aspects affecting the Company's performance
and strategies. The Board of Directors is assessed on
the achievement of short-term and long-term strategic
objectives, operational performance, risk management, and
adherence with regulations and good governance principles.
The evaluation is conducted while considering the dynamic
market conditions and various other external factors that
may potentially influence the Company's business.


Based on the evaluation done, the Board of Commissioners
expressed its appreciation for the Board of Directors’
performance in addressing the challenges and achieving
many positive performances throughout 2023.
Company's strategy implementation is also
considered to run well, especially in facing the
rapid and complex changes in the business
environment. The Board of Directors is
expected to keep on strengthening
proven strategies while constantly
considering the suggestions and
recommendations      from     the
Board of Commissioners, to
improve future performance and
sustainability of the Company.




                                                                       Laporan Tahunan 2023
                                                                          2023 Annual Report   31
Page 34
02           LAPORAN MANAJEMEN
             Management Report




Pandangan atas Prospek Usaha                                  View on Business Outlook

Dewan Komisaris dengan hati-hati mempertimbangkan             The Board of Commissioners carefully considers its
pandangan atas prospek usaha Perseroan, mengingat             views on Company's business outlook, considering the
kondisi ekonomi global dan nasional yang terus berubah.       ever-changing global and national economic conditions.
Meskipun masih terdapat ketidakpastian yang signifikan        Although the significant uncertainties still linger in the global
di pasar keuangan global, terutama akibat dinamika            financial markets, especially due to unstable geopolitical
geopolitik yang tidak stabil, kami tetap optimis terhadap     dynamics, we still optimistic about the Company's
potensi pertumbuhan Perseroan. Berbagai strategi yang         growth potentials. The various strategies that have been
telah diterapkan dan kinerja yang positif selama tahun 2023   implemented and positive performance throughout 2023
memberikan landasan kuat bagi prospek usaha Perseroan         give a strong basis for the Company's business prospects
di tahun-tahun yang akan datang.                              in the upcoming years.


Kami percaya bahwa dengan mengambil langkah-langkah           We believe that by taking the correct measures, such
yang tepat, seperti memperkuat kolaborasi antar-unit          as strengthening collaboration among business units,
bisnis, terus meningkatkan efisiensi operasional, serta       continued improvement of operational efficiency, and
memanfaatkan teknologi dan inovasi, Perseroan akan dapat      utilizing technology and innovation, the Company will be
mengatasi berbagai tantangan dan meraih peluang yang          able to overcome various challenges and capture existing
ada. Kami akan terus mengawasi dan memberikan arahan          opportunities. We will keep on supervising and advising
strategis kepada jajaran manajemen dan Direksi untuk          the management and Board of Directors to maintain
menjaga kinerja yang positif dan menjaga keberlanjutan        positive performance and maintain the Company business
bisnis Perseroan. Dengan demikian, kami yakin Perseroan       sustainability. By doing so, we strongly believe that the
dapat terus bersaing di pasar yang semakin kompetitif dan     Company can continue competing in the increasingly
memberikan nilai tambah yang berkelanjutan bagi seluruh       competitive market and provide sustainable added value for
pemangku kepentingan.                                         all stakeholders.



Pandangan atas Penerapan Tata Kelola                          Views on Sustainable Governance
Keberlanjutan                                                 Implementation

Dalam tata kelola keberlanjutan, Dewan Komisaris mengakui     In the sustainability governance, Board of Commissioners
pentingnya menjaga integritas, transparansi, dan tanggung     recognizes the importance of keeping the integrity,
jawab perusahaan. Penerapan tata kelola yang baik serta       transparency     and    corporate    responsibilities.   The
komitmen untuk memperkuat implementasinya diharapkan          implementation of good governance and commitment
dapat memberikan dampak positif bagi semua pihak yang         to strengthening its implementation are expected to
terlibat, sesuai dengan standar dan prinsip-prinsip terbaik   bring a positive impact for all the parties involved, in line
dalam industri. Dengan sistem tata kelola yang kuat           with the industry’s best standards and principles. With
dan berkelanjutan. Perseroan mampu mengelola risiko           strong and sustainable governance system. The Company
dengan lebih baik, meningkatkan kinerja operasional, dan      is able to manage risks better, improve operational
menciptakan nilai jangka panjang bagi semua pihak yang        performance, and creating long-term value for all parties
terlibat.                                                     involved.


Sepanjang tahun 2023, Dewan Komisaris memandang               Throughout 2023, the Board of Commissioners considers
penerapan tata kelola keberlanjutan di Perseroan telah        the sustainability governance implementation in the
dijalankan dengan baik. Meskipun dihadapkan pada berbagai     Company has been conducted well. Although faced with
tantangan, Perseroan berhasil mengimplementasikan prinsip-    many challenges, the Company has managed to successfully
prinsip tata kelola perusahaan yang baik dan berkelanjutan,   implementing good and sustainable corporate governance
yang terutama tercermin dalam upaya untuk mematuhi            principles, mainly reflected in the efforts to comply with
standar dan regulasi yang berlaku. Dewan Komisaris juga       the applicable standards and regulations. The Board of
mengapresiasi upaya Perseroan dalam membangun budaya          Commissioners also appreciates the Company's efforts
perusahaan yang berwawasan sosial dan ramah lingkungan.       in building a corporate culture with social insight and
Upaya ini termasuk dalam mendorong kesadaran karyawan         environmentally friendly. These efforts include encouraging
terhadap isu-isu sosial dan lingkungan, serta mengambil       employee awareness on social and environmental issues,
langkah-langkah konkret untuk mengurangi dampak negatif       while taking concrete measures to reduce any negative
yang mungkin timbul selama proses operasional Perseroan       impacts that may occur throughout the Company's
secara konsolidasian berlangsung.                             consolidated operational processes.




             Laporan Tahunan 2023
  32         2023 Annual Report
Page 35
                                                                             PT SINAR MAS MULTIARTHA TBK




Apresiasi                                                      Appreciation

Dengan kesungguhan, Dewan Komisaris Perseroan                  The Company's Board of Commissioners sincerely expresses
menyampaikan apresiasi kepada seluruh manajemen dan            its appreciation to the management and all employees for
karyawan atas dedikasi serta kerja keras dalam menghadapi      their dedication and hard work in facing the challenges in
tantangan pada tahun 2023. Keberhasilan Perseroan dalam        2023. The Company's success in implementing the correct
mengimplementasikan strategi yang tepat dan menjaga            strategies and maintaining good performance amidst the
kinerja yang baik di tengah kondisi ekonomi global yang        uncertainties of global economic conditions was the fruit
tidak pasti adalah hasil dari kerja keras dan komitmen yang    of hard work and solid commitment. We also would like
kokoh. Selain itu, apresiasi juga disampaikan kepada seluruh   to give the appreciation to all stakeholders for the support
pemangku kepentingan atas dukungan dan kerja sama yang         and cooperation given, which has assisted the Company
telah diberikan, yang telah membantu Perseroan untuk           to continue developing and making positive contributions
terus berkembang dan memberikan kontribusi positif bagi        to the economic growth and sustainable development.
pertumbuhan ekonomi dan pembangunan berkelanjutan.



                                               Atas nama Dewan Komisaris
                                        On behalf of the Board of Commissioners of
                                            PT SINAR MAS MULTIARTHA TBK,




                                                     Fuganto Widjaja
                                                     Komisaris Utama
                                                  President Commissioner




                                                                                      Laporan Tahunan 2023
                                                                                         2023 Annual Report         33
Page 36
02          LAPORAN MANAJEMEN
            Management Report




Laporan Direksi
Report from the Board of Directors
“Sinergi antara entitas anak yang dibangun oleh Perseroan selama
tahun 2023 berdampak positif pada perolehan laba tahun berjalan secara
konsolidasi, yang meningkat sebesar 31,79% dibandingkan dengan tahun
sebelumnya.”
“Synergies between subsidiaries forged by the Company throughout 2023
yielded a positive impact on the consolidated profit for the year, which
increased by 31.79% compared to the previous year.”



Burhanuddin Abdullah
Direktur Utama / President Director




Pemegang Saham dan Pemangku Kepentingan yang Terhormat,
Dear Esteemed Shareholders and Stakeholders,


Dengan penuh rasa syukur, kami menyampaikan Laporan        It is with the utmost great gratitude, we present you
Tahunan PT Sinar Mas Multiartha Tbk untuk tahun 2023       the Annual Report of PT Sinar Mas Multiartha Tbk
yang dinamis. Di tengah kondisi tersebut, kami berhasil    for the dynamic year of 2023. Amidst these conditions,
melewati setiap rintangan dengan integritas dan semangat   we successfully overcome every obstacle with integrity
untuk unggul. Perseroan pun dapat tetap mencatatkan        and a passion for excellence. The Company also managed
pencapaian yang positif, bahkan mengalami pertumbuhan      to sustain positive achievements, even experienced
dari periode sebelumnya. Informasi tersebut menjadi        growth from the previous period. This information is
highlight dari laporan pertanggungjawaban tugas Direksi    the highlight of the accountability report from the Board
ini yang akan memaparkan tantangan, strategi, dan          of Directors, explaining the challenges, strategies and
pencapaian Perseroan, serta rencana ke depan untuk         achievements faced by the Company, as well as the
memastikan pertumbuhan yang berkelanjutan dan inklusif     future plans in ensuring sustainable and inclusive growth
bagi seluruh pihak.                                        for all parties.




            Laporan Tahunan 2023
  34        2023 Annual Report
Page 37
                                                                   PT SINAR MAS MULTIARTHA TBK




Tinjauan Ekonomi dan Industri

Tahun 2023 ditandai oleh dinamika ekonomi global yang
cepat berubah dan penuh ketidakpastian. Permintaan,
terutama di sektor jasa, mengalami peningkatan setelah
pulihnya mobilitas pasca pandemi Covid-19. Fragmentasi
geopolitik-ekonomi juga memperlambat pemulihan ekonomi
global, disertai dengan tekanan inflasi yang berlanjut akibat
harga energi dan pangan dunia, serta kekakuan pasar tenaga
kerja di berbagai negara. Proses pemulihan ekonomi global
juga dipengaruhi oleh masalah perubahan iklim, struktur
demografi, dan digitalisasi. Akibatnya, pertumbuhan
ekonomi global tahun 2023 melambat menjadi 3,0%, turun
dari 3,5% di tahun sebelumnya.


Di sisi lain, Indonesia berhasil menjaga stabilitas makroekonomi
dan keuangan di tengah dinamika global yang berubah
cepat. Tingkat inflasi yang rendah, yaitu 2,61%, mendorong
pertumbuhan ekonomi yang solid hingga mencapai 5,05%
pada tahun 2023. Pertumbuhan ini didorong oleh permintaan
domestik yang kuat dan investasi yang berkelanjutan. Likuiditas
ekonomi dan perbankan juga tetap terjaga dengan baik,
yang mendukung pertumbuhan kredit perbankan sebesar
10,38% pada tahun 2023, dengan pertumbuhan tertinggi di
sekor jasa sosial, pengangkutan, dan jasa dunia usaha.



Economic and Industry Review

2023 was marked by the rapidly changing global economic
dynamics and filled with uncertainties. Demand, particularly
in the services sector, experiencing an increase due to the
recovering mobility after Covid-19 pandemic. Fragmentation
of geopolitical-economic also dragging down the global
economic recovery, coupled with continued pressure from
inflation caused by world energy and food prices, as well
as stiffness of labor market in various countries. The global
economic recovery process is also affected by climate
change, demographic structure and digitalization. As a
result, global economic growth in 2023 slowed down to
3.0%, dropped from 3.5% in the previous year.


On the other hand, Indonesia has managed to successfully
maintain its macroeconomic and financial stability amidst
the rapidly changing global dynamics. Low inflation rate of
2.61%, powered a solid economic growth to reach 5.05%
in 2023. This growth is driven by strong domestic demand
and sustainable investment. The economic and banking
liquidity are also well maintained, which backed the banking
credit growth to reach 10.38% in 2023, with the highest
growth recorded in the social services, transportation and
business services sectors.




                                                                          Laporan Tahunan 2023
                                                                             2023 Annual Report   35
Page 38
02           LAPORAN MANAJEMEN
             Management Report




Begitu pun dengan situasi pasar modal Indonesia yang tidak      Similar situation can be observed in Indonesian capital
hanya mencatatkan pencapaian dari sisi supply dan demand,       market, which has not only recorded achievements from
tetapi juga dari aktivitas perdagangan. Dari sisi supply,       both the supply and demand sides, but also in the trading
jumlah perusahaan tercatat saham di Bursa Efek Indonesia        activities. On the supply side, number of companies listed
(BEI) telah melampaui angka kisaran 903 perusahaan.             on Indonesia Stock Exchange (IDX) have surpassed 903
Penambahan pencatatan efek baru sebanyak 79 saham di            companies. The addition of 79 new securities listings in 2023
tahun 2023 merupakan pencapaian tertinggi sepanjang             were the highest achievement in Indonesian capital market
sejarah pasar modal Indonesia. Hal ini tercermin juga           history. This is also reflected in Composite Stock Price Index
dari Indeks Harga Saham Gabungan (IHSG) yang ditutup            (JCI) which ended at 7,303.89 or 6.62% increase from the
pada level 7.303,89 atau meningkat 6,62% dari penutupan         2022 close of trading. Positive achievement is also reflected
perdagangan tahun 2022. Pencapaian positif juga turut           from the increasing interest from the general public to invest
tercermin dari meningkatnya minat masyarakat untuk              in the capital market.
berinvestasi di pasar modal.



Strategi Keberlanjutan                                          Sustainability Strategy

Direksi Perseroan telah merancang strategi pengembangan         The Company's Board of Directors has prepared the
usaha untuk tahun 2023 dengan optimisme terhadap                2023 business development strategy with optimism on
pemulihan ekonomi nasional dan peningkatan kontrol              the national economic recovery and increased control
terhadap dinamika ekonomi. Strategi ini difokuskan pada         over economic dynamics. This strategy is focused on the
pengembangan kapasitas internal, peningkatan sinergi            development of internal capacity, increasing synergy among
antar Entitas Anak, dan penerapan teknologi informasi           Subsidiaries, and information technology implementation
untuk efisiensi dan produktivitas. Perseroan juga aktif         for efficiency and productivity. The Company is also
mencari peluang usaha baru, seperti e-business, dan             actively seeking out new business opportunities, such
berinvestasi pada sektor strategis untuk meningkatkan           as e-business, and investing in strategic sectors to boost
laba konsolidasi. Selain itu, Perseroan mengembangkan           its consolidated profits. The Company is also developing
kompetensi karyawan dalam prinsip keberlanjutan untuk           its employee competency in sustainability principles in
menjawab kebijakan pemerintah dan perubahan tren bisnis.        responding to government policies and changing business
Strategi ini dirumuskan dan diimplementasikan dengan            trends. This strategy is formulated and implemented under
pengawasan Direksi dan manajemen sebagai landasan               the supervision of the Board of Directors and management
untuk memastikan pertumbuhan yang sehat dan inklusif            as a basis to ensure a sound and inclusive growth for the
bagi Perseroan di tengah kondisi ekonomi yang dinamis.          Company amidst the dynamic economic conditions.



Pencapaian Kinerja Keberlanjutan                                Sustainability Performance Achievements

Pada tahun 2023, Perseroan dapat mencatat kinerja ekonomi       In 2023, the Company recorded good economic performance
yang baik dengan pendapatan yang meningkat pada                 with increasing income from several business segments.
beberapa segmen bisnis. Meskipun, secara konsolidasian,         Although, the Company's consolidated income suffered an
pendapatan Perseroan mengalami penurunan sebesar                18.66% decrease with Rp26.93 trillion total income, thanks to
18,66% dengan total perolehan sebesar Rp26,93 triliun,          the efficiency in operational expenses, the profit for the year
namun dengan efisiensi pada beban usaha, maka laba tahun        had 31.79% increased or Rp1.19 trillion from Rp902.00 billion
berjalan dapat meningkat sebesar 31,79% hingga mencapai         of previous year. The Company's profitability ratios, as well
Rp1,19 triliun dari Rp902,00 miliar di tahun sebelumnya.        as the liquidity and solvency ratios are also well maintained.
Rasio profitabilitas Perseroan pun tetap terjaga dengan
baik, demikian pula dengan rasio likuiditas dan solvabilitas.




             Laporan Tahunan 2023
  36         2023 Annual Report
Page 39
                                                                                PT SINAR MAS MULTIARTHA TBK




Dalam aspek sosial, Perseroan terus berkomitmen untuk             In the social aspect, the Company remains committed to
memberikan dampak positif bagi masyarakat sekitar. Di tahun       give positive impact on the surrounding communities.
2023, kami telah menandatangani kesepakatan kerja sama            In 2023, we signed a cooperation agreement with SMK
dengan SMK Ananda Bekasi untuk pelaksanaan praktik kerja          Ananda Bekasi on the implementation of industrial work
industri yang didukung oleh Eka Tjipta Foundation (ETF). Selain   practices supported by Eka Tjipta Foundation (ETF). In
itu, kami juga memberikan bantuan melalui program corporate       addition, we also provide assistance through the corporate
social responsibility (CSR) kepada SMK tersebut sebesar           social responsibility (CSR) program to SMK Ananda Bekasi
Rp1,09 miliar sebagai bentuk komitmen Perseroan terhadap          amounting to Rp1.09 billion as Company's commitment
pendidikan dan pengembangan masyarakat lokal.                     to education and development of local communities.


Dalam menjaga lingkungan, Perseroan dan Entitas Anak terus        In environmental preservation, the Company and Subsidiaries
mendorong budaya ramah lingkungan. Kami mengambil                 continue to encourage an environmentally friendly
berbagai langkah untuk meningkatkan kesadaran karyawan            culture. We have taken various measures of increasing
terhadap penggunaan energi, air, dan kertas. Langkah-langkah      employee awareness of energy, water and paper usage.
ini mencerminkan komitmen kami untuk berkontribusi                These measures reflect our commitment to contributing
pada pelestarian lingkungan dan mengurangi jejak karbon.          to environmental conservation and reducing our carbon
Dengan demikian, Perseroan terus berusaha untuk mencapai          footprint. Thus, the Company is constantly striving to achieve
keberlanjutan yang holistik, dengan memperhatikan aspek           a holistic sustainability, by while considering the economic,
ekonomi, sosial, dan lingkungan.                                  social and environmental aspects.



Prospek Usaha Keberlanjutan                                       Sustainability Business Prospect

Perubahan cepat dalam dinamika ekonomi global,                    Rapid changes of global economic dynamics, coupled
ditambah dengan meningkatnya ketegangan geopolitik,               with the rising geopolitical tensions, have led to worsened
telah memperburuk kondisi ekonomi dan meningkatkan                economic conditions and increased uncertainties in financial
ketidakpastian di pasar keuangan. Dampaknya terlihat              markets. The impact can be seen in the emergence of
dalam munculnya tantangan yang secara keseluruhan                 challenges that are affecting the overall global economic
memengaruhi prospek ekonomi global, meningkatkan                  outlook, widening the investment and trade gap of developed
kesenjangan dalam investasi dan perdagangan antara negara         and developing countries, while at the same time increasing
maju dan berkembang, serta meningkatkan ketidakpastian            global financial markets uncertainties. Although the global
di pasar keuangan global. Meskipun kondisi global diprediksi      condition is predicted to be less favorable, the government
kurang menguntungkan, pemerintah tetap optimis dengan             is still optimistic by establishing the 2024 national economic
menetapkan perkiraan pertumbuhan ekonomi nasional                 growth estimate of 5.0%, with inflation target maintained
tahun 2024 sebesar 5,0%, dengan target inflasi yang dijaga        at around 2.5±1%.
pada kisaran 2,5±1%.


Pasar modal sebagai leading indicator atas persepsi investor      The capital market, as leading indicator of investors'
terhadap situasi perekonomian suatu wilayah digambarkan           perceptions of the economic situation of a region is reflected
oleh level IHSG yang terus mengalami perbaikan hingga             by the JCI level which keeps on improving well until the end of
penghujung tahun 2023. Faktor pemilu menjadi salah satu           2023. The general election factor is one of the indicators that
indikator yang berpotensi mendorong kenaikan IHSG, begitu         has the potential to drive the JCI increase, as demonstrated
pun pada pemilu-pemilu sebelumnya. Hal ini disumbang oleh         by the previous general elections. This was due to the
peningkatan uang beredar dari aktivitas kampanye yang akan        contribution of increasing money circulation from campaign
ikut meramaikan perekonomian masyarakat. Berdasarkan              activities which help enliven community's economy. Based
prediksi dengan asumsi earning per share (EPS) terbaru, IHSG      on predictions made using the latest earnings per share (EPS)
2024 diperkirakan dapat menyentuh 7.700,00 di tengah              assumptions, in 2024 the JCI is estimated to reach 7,700.00
kondisi politik dan ekonomi global yang masih belum stabil.       amidst unstable global political and economic conditions.




                                                                                          Laporan Tahunan 2023
                                                                                             2023 Annual Report           37
Page 40
02           LAPORAN MANAJEMEN
             Management Report




Perseroan pun melihat masa depan dengan optimisme               The Company’s future outlook is also filled with optimism
dan tekad untuk meningkatkan kontribusi positif terhadap        and determination to increase its positive contribution both
lingkungan dan masyarakat. Dengan memperkuat strategi           to the environment and communities. By strengthening
pengembangan usaha berkelanjutan, Perseroan akan berfokus       sustainable business development strategies, the Company
pada efisiensi sumber daya alam, penerapan teknologi ramah      will be focusing its attention on the natural resource
lingkungan, dan pemberdayaan komunitas lokal. Sinergi           efficiency, implementation of environmentally friendly
antar Entitas Anak akan ditingkatkan untuk menciptakan          technologies, and empowerment of the local communities.
nilai tambah yang berkelanjutan, sementara inovasi dalam        Synergies between Subsidiaries will be improved to create
e-business akan menjadi prioritas untuk menanggapi              sustainable added value, while the e-business innovation
perubahan tren bisnis yang dinamis. Perseroan juga akan terus   will be a priority in responding to the dynamic changes of
berupaya dalam mengelola aspek sosial dengan memberikan         business trends. The Company will also continue striving
kesempatan kerja yang adil, pengembangan kompetensi,            to manage the social aspects through provision of fair
dan remunerasi yang sesuai. Kesehatan, keselamatan,             employment opportunities, competency development
dan kesejahteraan karyawan pun tetap difokuskan                 and proper remuneration. The health, safety and welfare
untuk menciptakan lingkungan kerja yang produktif dan           of employees remains in focus to create a productive and
berkelanjutan. Dengan komitmen dan upaya nyata dalam            sustainable work environment. With real commitment and
menjalankan strategi keberlanjutan, Perseroan optimis dapat     efforts in implementing the sustainability strategies, the
mencapai pertumbuhan yang sehat dan berkelanjutan,              Company is optimistic to be able to achieve healthy and
memberikan nilai tambah bagi seluruh pemangku                   sustainable growth, providing added value for all of the
kepentingan, serta berperan aktif dalam menjaga kelestarian     stakeholders, and playing an active role in the environment
lingkungan dan kesejahteraan masyarakat di sekitarnya.          preservation and welfare of the surrounding communities.



Penerapan Tata Kelola Keberlanjutan                             Sustainability Governance Implementation

Dalam menjalankan pengelolaan usaha yang bertanggung            In carrying out responsible business management, the
jawab, Perseroan telah mengintegrasikan prinsip-                Company has integrated solid sustainability governance
prinsip tata kelola keberlanjutan yang kokoh. Perseroan         principles. The Company ensures that the economic, social
memastikan bahwa aspek ekonomi, sosial, dan lingkungan          and environmental aspects are integrated in every decision
terintegrasi dalam setiap keputusan dan aktivitas bisnis.       and business activity. This is reflected in the strategies and
Hal ini tercermin dalam strategi dan kebijakan yang             policies implemented, that emphasize the ethical behavior,
diterapkan, yang menekankan prinsip perilaku beretika,          accountability, transparency and sustainability principles.
akuntabilitas, transparansi, dan keberlanjutan. Baik antar      We are communicating actively, both among governance
organ tata kelola maupun antara Perseroan dengan para           organs, between the Company and its stakeholders, in
pemangku kepentingan, kami berkomunikasi secara aktif           ensuring synergy, support and inputs from various parties
untuk memastikan sinergitas, dukungan, dan masukan              on the implementation of these strategies and policies. The
dari berbagai pihak terhadap implementasi strategi dan          Company is committed to be the role model in implementing
kebijakan tersebut. Perseroan berkomitmen untuk menjadi         effective and reliable sustainability governance, for all of
teladan dalam menerapkan tata kelola keberlanjutan              the Subsidiaries included in the Company's Business Group.
yang efektif dan dapat diandalkan, hingga pada seluruh
Entitas Anak yang tergabung dalam Grup Usaha Perseroan.




             Laporan Tahunan 2023
  38         2023 Annual Report
Page 41
                                                                               PT SINAR MAS MULTIARTHA TBK




Apresiasi                                                        Appreciation

Dalam nuansa yang penuh syukur ini, kami menyampaikan            In this grateful atmosphere, we express our gratitude to all
terima kasih kepada seluruh pemangku kepentingan yang            of the stakeholders who have supported and contributed
telah mendukung dan berkontribusi dalam perjalanan               in the Company's sustainability journey. We also would
keberlanjutan Perseroan. Terima kasih dan apresiasi yang         like to express our gratitude and high appreciation to
tinggi kami sampaikan kepada para Pemegang Saham,                Shareholders, Board of Directors, employees, business
Direksi, karyawan, mitra bisnis, pemerintah, serta masyarakat    partners, government and communities for the cooperation
atas kerja sama dan dukungan yang diberikan. Hal tersebut        and support given. All of these are very useful in encouraging
sangatlah bermanfaat untuk mendorong semangat insan              the enthusiasm of Company's personnel to keep on striving
Perseroan dalam mengupayakan yang terbaik serta dalam            for the best and to successfully achieve the targets through
menyukseskan pencapaian target melalui implementasi              the implementation of established strategies. Therefore,
strategi yang ditetapkan. Karenanya, kami pun berkomitmen        we are also committed to keep on strengthening our
untuk terus menguatkan pengelolaan usaha dengan                  business management with sustainability orientation
orientasi keberlanjutan guna memberikan nilai tambah bagi        to provide added value for all parties and becoming a
seluruh pihak serta menjadi mitra yang dapat diandalkan          reliable partner in achieving sustainable development for
dalam mencapai pembangunan yang berkelanjutan bagi               the nation and state.
bangsa dan negara.



                                                Atas nama Dewan Komisaris
                                            On behalf of the Board of Directors of
                                             PT SINAR MAS MULTIARTHA TBK,




                                                 Burhanuddin Abdullah
                                                       Direktur Utama
                                                      President Director




                                                                                         Laporan Tahunan 2023
                                                                                            2023 Annual Report          39
Page 42
02        LAPORAN MANAJEMEN
          Management Report




DEWAN KOMISARIS
Board of Commissioners

1. Fuganto Widjaja (Komisaris Utama / President Commissioner); 2. Howen Widjaja (Komisaris / Commissioner);
3. Dani Lihardja (Komisaris / Commissioner); 4. Robinson Simbolon (Komisaris Independen / Independent Commissioner);
5. Ketut Sanjaya (Komisaris Independen / Independent Commissioner).




           5                      4                       1                      2                       3




          Laporan Tahunan 2023
40        2023 Annual Report
Page 43
                                                                               PT SINAR MAS MULTIARTHA TBK




DIREKSI
Board of Directors

6. Burhanuddin Abdullah (Direktur Utama / President Director);
7. Agus Leman Gunawan (Direktur / Director); 8. Felix (Direktur / Director);
9. Ferita (Direktur / Director); 10. Lili Wijata (Direktur / Director);




            8                       10                        6                    9                     7




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report   41
Page 44
02                   LAPORAN MANAJEMEN
                     Management Report




Profil Dewan Komisaris
Profile of the Board of Commissioners



                                                                  FUGANTO WIDJAJA1)
                                                                  Komisaris Utama
                                                                  President Commissioner

                                                                            Kewarganegaraan                               Nationality
                                                                            Warga Negara Indonesia                        Indonesian Citizen

                                                                            Usia                                          Age
                                                                            42 tahun                                      42 years old

                                                                            Domisili                                      Domicile
                                                                            Jakarta                                       Jakarta




             Riwayat Pendidikan                                                            Educational Background
             Sarjana bidang Computer Science and Economics, College of Arts Bachelor in Computer Science and Economics from College of Arts
             and Sciences, Cornell University, New York, Amerika Serikat (2003). and Sciences, Cornell University, New York, USA (2003). Then, he
             Kemudian, menyelesaikan pendidikan Master of Philosophy Finance, finished his Master of Philosophy in Finance from Judge Institute
             Judge Institute of Management, Cambridge University, Inggris (2004). of Management, Cambridge University, UK (2004).

             Riwayat Jabatan di Perseroan                                                  List of Positions Held in Company
             Menjabat sebagai Direktur (2013-2015). Kemudian, menjabat Served as Director from 2013 to 2015, later appointed as
             sebagai Komisaris sejak 2015 dan diangkat sebagai Komisaris Commissioner since 2015, and appointed as President
             Utama pada tahun 2023 dengan masa tugas sampai dengan tahun Commissioner in 2023 with a term of office until 2024 based on
             2024 berdasarkan Akta Pernyataan Keputusan Rapat PT Sinar Deed of PT Sinar Mas Multiartha Tbk Meeting Resolutions No. 130
             Mas Multiartha Tbk No. 130 tanggal 27 Juni 2023.            dated June 27, 2023.

             Pengalaman Kerja                                                              Work Experience
             Memiliki pengalaman sebagai Investment Analyst UBS Bank His previous working experience includes Investment Analyst at UBS
             Singapura (2003), Wakil Presiden Direktur PT Borneo Indobara Bank Singapore (2003), Vice President Director of PT Borneo Indobara
             (2006-2011), Presiden Direktur PT Roundhill Capital Indonesia (2006-2011), President Director of PT Roundhill Capital Indonesia
             (2007-2011), Presiden Komisaris PT Golden Energy Mines Tbk (2007-2011), President Commissioner of PT Golden Energy Mines
             (2011-2012), Komisaris PT Borneo Indobara (2011-2014 dan Tbk (2011-2012), Commissioner of PT Borneo Indobara (2011-2014
             2018-2022), Presiden Direktur PT Golden Energy Mines Tbk and 2018-2022), President Director of PT Golden Energy Mines Tbk
             (2012-2016), Presiden Komisaris PT Borneo Indobara (2014-2018), (2012-2016), President Commissioner of PT Borneo Indobara
             serta Komisaris PT Golden Energy Mines Tbk (2016-2022).         (2014-2018), and Commissioner of PT Golden Energy Mines Tbk
                                                                             (2016-2022).

             Rangkap Jabatan                                                               Concurrent Position
             Presiden Komisaris PT Super Wahana Tehno (sejak Januari President Commissioner of PT Super Wahana Tehno (since January
             2006), Presiden Komisaris PT Roundhill Capital Indonesia 2006), President Commissioner of PT Roundhill Capital Indonesia
             (sejak November 2011), Komisaris PT Berau Coal Energy Tbk (since November 2011), Commissioner of PT Berau Coal Energy Tbk
             (sejak 2015), Direktur dan Group CEO Golden Energy and (since 2015), Director and Group CEO of Golden Energy
             Resources Limited (sejak 2015), serta Komisaris PT Sinartama and Resources Limited (since 2015), and Commissioner of
             Gunita (sejak 2021).                                         PT Sinartama Gunita (since 2021).

             Hubungan Afiliasi                                                             Affiliation Relationship
             Memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has financial, management, and family relationship with the
             dengan anggota Dewan Komisaris lainnya, serta Pemegang other member of the Board of Commissioners, as well as with the
             Saham Utama dan Pengendali.                                Main and Controlling Shareholders.
1)
     Efektif menjabat sejak ditutupnya RUPS Luar Biasa pada 27 Juni 2023. / Effectively appointed since the closure of the Extraordinary General Meeting on 27 June 2023.




                     Laporan Tahunan 2023
       42            2023 Annual Report
Page 45
                                                                                     PT SINAR MAS MULTIARTHA TBK




                                               HOWEN WIDJAJA
                                               Komisaris
                                               Commissioner

                                                         Kewarganegaraan                          Nationality
                                                         Warga Negara Indonesia                   Indonesian Citizen

                                                         Usia                                     Age
                                                         44 tahun                                 44 years old

                                                         Domisili                                 Domicile
                                                         Jakarta                                  Jakarta




Riwayat Pendidikan                                                    Educational Background
Lulusan University of Southern California, jurusan Arsitektur He earned his Architecture degree from the University of
(2003) dan meraih gelar Master of Business Administration jurusan Southern California (2003) and Master of Business Administration
Manajemen Risiko dari St. John’s University (2007).               in Risk Management from St. John’s University (2007).

Riwayat Jabatan di Perseroan                                          List of Positions Held in Company
Menjabat sebagai Komisaris sejak 2010 dan diangkat kembali Served as Commissioner since 2010 and reappointed in 2021
pada tahun 2021 dengan masa tugas sampai dengan tahun 2024 with a serving period until 2024 based on Deed of PT Sinar Mas
berdasarkan Akta Pernyataan Keputusan Rapat PT Sinar Mas Multiartha Tbk Meeting Resolutions No. 5 dated 29 June 2021.
Multiartha Tbk No. 5 tanggal 29 Juni 2021.

Pengalaman Kerja                                                      Work Experience
Mulai meniti karier sebagai Assistant Drafter Marquis Interior Design He started his career as Assistant Drafter at Marquis Interior Design
(2002-2006). Pernah menjadi bagian dari Global Research and (2002-2006). His previous working experience including Global
Development Intern ACE Insurance Company (2006-2007), Research and Development Intern at ACE Insurance Company
Underwriting Department Leading Insurance Group (2007-2008), (2006-2007), Underwriting Department at Leading Insurance
Market Risk Management Merrill Lynch (2008-2009), serta Group (2007-2008), Market Risk Management at Merrill Lynch
Corporate Planning Division (2009-2010) dan Direktur (2009-2013) (2008-2009), and Corporate Planning Division (2009-2010) and
PT Asuransi Sinar Mas.                                                Director (2009-2013) of PT Asuransi Sinar Mas.

Sertifikasi                                                           Certification
Beliau memiliki sertifikasi di bidang asuransi dan keuangan dari He has certification in insurance and finance from the Australian
Australian and New Zealand Institute of Insurance and Finance and New Zealand Institute of Insurance and Finance (ANZIIF)
(ANZIIF) (2014), Certified in Risk Governance Professional (CRGP) (2014), Certified in Risk Governance Professional (CRGP) from
dari Lembaga Sertifikasi Profesi Manajemen Risiko (LSPMR) (2015) Lembaga Sertifikasi Profesi Manajemen Risiko (LSPMR) (2015)
(telah diperpanjang pada 2022), dan Certification Exam Preparation (extended in 2022), and Certification Exam Preparation CRGP
CRGP dari Center for Risk Management and Sustainability (CRMS) from Center for Risk Management and Sustainability (CRMS)
(2015).                                                            (2015).

Rangkap Jabatan                                                       Concurrent Position
Komisaris PT Sinarmas Asset Management (sejak 2011) dan Commissioner of PT Sinarmas Asset Management (since 2011)
Direktur Utama PT Asuransi Sinar Mas (sejak 2013).      and President Director of PT Asuransi Sinar Mas (since 2013).

Hubungan Afiliasi                                                     Affiliation Relationship
Memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has financial, management, and family relationship with the
dengan anggota Dewan Komisaris lainnya, serta Pemegang other member of the Board of Commissioners, as well as with the
Saham Utama dan Pengendali.                                Main and Controlling Shareholders.




                                                                                                Laporan Tahunan 2023
                                                                                                   2023 Annual Report               43
Page 46
02                   LAPORAN MANAJEMEN
                     Management Report




                                                                  DANI LIHARDJA2)
                                                                  Komisaris Independen
                                                                  Independent Commissioner

                                                                            Kewarganegaraan                               Nationality
                                                                            Warga Negara Indonesia                        Indonesian Citizen

                                                                            Usia                                          Age
                                                                            59 tahun                                      59 years old

                                                                            Domisili                                      Domicile
                                                                            Jakarta                                       Jakarta




             Riwayat Pendidikan                                                            Educational Background
             Lulusan Fakultas Hukum, Universitas Katolik Parahyangan, Bandung Graduated from Faculty of Law, Universitas Katolik Parahyangan,
             (1986). Pernah mengikuti pelatihan The Pasific Rim Bankers Program Bandung (1986). Attended The Pacific Rim Bankers Program
             (PRBP) di Seattle, Amerika Serikat (2012).                         (PRBP) training, Seattle, USA (2012).
             Riwayat Jabatan di Perseroan                                                  List of Positions Held in Company
             Menjabat sebagai Direktur sejak Juni 2013 dan diangkat kembali Served as Director since June 2013 and reappointed in 2021
             pada tahun 2021 sampai Juni 2023. Kemudian diangkat sebagai until June 2023. Subsequently appointed as Commissioner in
             Komisaris pada tahun 2023 dengan masa tugas sampai dengan 2023 with a term of office until 2024 based on Deed of PT Sinar
             tahun 2024 berdasarkan Akta Pernyataan Keputusan Rapat PT Sinar Mas Multiartha Tbk Meeting Resolutions No. 130 dated 27 June
             Mas Multiartha Tbk No. 130 tanggal 27 Juni 2023. Beliau juga pernah 2023. He also previously served as the Company Secretary
             menjabat sebagai Sekretaris Perusahaan Perseroan (2021-Juli 2023). (2021-July 2023).
             Pengalaman Kerja                                                              Work Experience
             Memiliki pengalaman sebagai Staf Kantor Notaris Elly Soehandjojo He has work experience as a Staff in the Notary Office of
             (1986-1987), kemudian berkarier di industri perbankan yang Elly Soehandjojo (1986-1987), then pursued his career in banking
             dimulai di Tamara Commercial Bank sebagai Marketing Officer as a Marketing Officer (1988-1990) and Head of Marketing & Credit
             (1988-1990) dan Head Marketing & Credit (1990-1991). Setelah (1990-1991) at Tamara Commercial Bank. Afterward, he joined
             itu, bergabung dengan PT Bank International Indonesia Tbk PT Bank International Indonesia as an Account Officer
             sebagai Account Officer (1991-1992), Pemimpin Cabang Karawang (1991-1992), Branch Manager Karawang (1992- 1995), MDP 27
             (1992-1995), MDP 27 (1995-1996), Pemimpin Cabang Lampung (1995-1996), Branch Manager-Lampung (1996-1998), Branch
             (1996-1998), Pemimpin Cabang Bogor (1998-2000), Pemimpin Manager-Bogor (1998-2000), Branch Manager-Palembang
             Cabang Palembang (2000-2003), Pemimpin Cabang Bandung (2000-2003), Branch Manager-Bandung (2003-2004), Area Sales
             (2003-2004), Area Sales Manager (2005-2006), serta Area Business Manager (2005-2006), and Area Business Manager (2006).
             Manager (2006). Selanjutnya, beliau menjadi bagian dari PT Bank Furthermore, he joined PT Bank Sinarmas Tbk as Director of
             Sinarmas Tbk sebagai Direktur Kredit dan Marketing (2006-2010) Credit and Marketing (2006-2010) and Vice President Director
             dan Wakil Direktur Utama (2010-2012). Selain itu, beliau juga pernah (2010-2012). Additionally, he served as a member of the
             menjabat sebagai anggota Komite Audit PT Sinar Mas Multifinance Audit Committee of PT Sinar Mas Multifinance (2013-2016),
             (2013-2016), dan Direktur Utama PT Pasar Dana Pinjaman President Director of PT Pasar Dana Pinjaman (2016-2021),
             (2016-2021), Komisaris PT Panji Ratu Jakarta (2016-2023), dan Commissioner of PT Panji Ratu Jakarta (2016-2023), and Director
             Direktur PT Simas Poin Indonesia (2021-2022).                        of PT Simas Poin Indonesia (2021-2022).
             Sertifikasi                                                                   Certification
             Beliau memiliki sertifikasi manajemen risiko level 5 dari Badan He obtained level 5 risk management certification from Risk
             Sertifikasi Manajemen Risiko (2007).                            Management Certification Agency (2007).
             Rangkap Jabatan                                                               Concurrent Position
             Merangkap jabatan sebagai Komisaris Utama PT Sinarmas Concurrently served as President Commissioner of PT Sinarmas
             Ventura (sejak 2018) dan Komisaris PT Pasar Dana Pinjaman Ventura (since 2018) and Commissioner of PT Pasar Dana
             (sejak 2021). Beliau juga menjabat sebagai Direktur pada Pinjaman (since 2021). He also served as Director in several
             beberapa Entitas Anak Perseroan, meliputi PT Data Opal Terpadu, Subsidiaries of the Company, including PT Data Opal Terpadu,
             PT Zimba Onix Mustika, dan PT Sistem Loka Triprima (sejak 2021), PT Zimba Onix Mustika, and PT Sistem Loka Triprima (since 2021),
             serta PT Pasar Gadai Digital (sejak April 2022).                 and PT Pasar Gadai Digital (since April 2022).
             Hubungan Afiliasi                                                             Affiliation Relationship
             Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationship with
             dengan anggota Dewan Komisaris lainnya, Direksi, serta Pemegang the other member of the Board of Commissioners, Board of
             Saham Utama dan Pengendali.                                      Directors, as well as with the Main and Controlling Shareholders.
2)
     Efektif menjabat sejak ditutupnya RUPS Luar Biasa pada 27 Juni 2023. / Effectively appointed since the closure of the Extraordinary General Meeting on 27 June 2023.




                     Laporan Tahunan 2023
       44            2023 Annual Report
Page 47
                                                                                PT SINAR MAS MULTIARTHA TBK




                                             ROBINSON SIMBOLON
                                             Komisaris Independen
                                             Independent Commissioner

                                                     Kewarganegaraan                        Nationality
                                                     Warga Negara Indonesia                 Indonesian Citizen

                                                     Usia                                   Age
                                                     70 tahun                               70 years old

                                                     Domisili                               Domicile
                                                     Jakarta                                Jakarta




Riwayat Pendidikan                                                Educational Background
Lulusan Fakultas Hukum, Universitas Jayabaya (1982) dan Ahli Graduated from Faculty of Law, Universitas Jayabaya (1982)
Perundang-Undangan, Universitas Indonesia (1988). Selain and Legislative Expert, Universitas Indonesia (1988). In addition,
itu, beliau telah menyelesaikan Pelatihan Staf dan Pimpinan he also completed his Structural Training Course for Echelon II
Administrasi Tingkat Menengah (SPAMEN) Angkatan VI di Candidates (Staf dan Pimpinan Administrasi Tingkat Menengah/
Bandung (2000).                                              SPAMEN) Batch VI in Bandung (2000).

Riwayat Jabatan di Perseroan                                      List of Positions Held in Company
Pertama kali menjabat sebagai Komisaris Independen Perseroan He first served as an Independent Commissioner of the
pada tahun 2014 berdasarkan keputusan Rapat Umum Pemegang Company in 2014, based on Extraordinary General Meeting
Saham Luar Biasa tanggal 13 Juni 2014. Beliau telah menjabat of Shareholders Resolutions dated 13 June 2014. He served
sebagai Komisaris Independen selama beberapa periode as an Independent Commissioner for multiple terms and
dengan pengangkatan kembali pada tahun 2021 untuk masa reappointed in 2021 for a term of office until 2024, based on
tugas sampai dengan tahun 2024 berdasarkan Akta Pernyataan Deed of PT Sinar Mas Multiartha Tbk Meeting Resolutions No.
Keputusan Rapat PT Sinar Mas Multiartha Tbk No. 5 tanggal 5 dated 29 June 2021. Prior to this position, he served as the
29 Juni 2021. Beliau pernah menjabat sebagai Ketua Komite Audit Chairman of Audit Committee (2014-2021). Currently, he also
(2014-2021). Saat ini, beliau juga menjabat sebagai Ketua Komite serves as the Chairman of Nomination and Remuneration
Nominasi dan Remunerasi (sejak 2020) dan Ketua Komite Audit Committee (since 2020) and the Chairman of Audit Committee
(sejak 2022).                                                    (since 2022).

Pengalaman Kerja                                                  Work Experience
Perjalanan karier dimulai di Kementerian Keuangan sebagai He started his career at the Ministry of Finance as Head of Legal,
Kepala Bagian Hukum, Perusahaan Lembaga Keuangan, dan Financial Institution Companies, and Legal Bureau (1995-1998).
Perjanjian Biro Hukum (1995-1998). Pernah menjabat sebagai He served as Head of Audit and Investigation Bureau (1998-
Kepala Biro Pemeriksaan dan Penyelidikan Badan Pengawas Pasar 1999) and Head of Legislation and Legal Aid Bureau (2000–2012)
Modal (1998-1999) serta Kepala Biro Perundang-Undangan dan at Capital Market Supervisory Agency. Then, he held various
Bantuan Hukum Badan Pengawas Pasar Modal (2000-2012). Beliau strategic positions, including, Member of Indonesian Credit
kemudian dipercaya untuk menduduki beragam posisi strategis, Guarantee Supervisory Board (1999-2009), Member of the
seperti Anggota Dewan Pengawas Perum Jaminan Kredit Indonesia Board of Commissioners of PT Permodalan Nasional Madani
(1999-2009), Anggota Dewan Komisaris PT Permodalan Nasional (2010-2013), Deputy Commissioner I Capital Market of the Financial
Madani (2010-2013), dan Deputi Komisioner Pasar Modal I Otoritas Services Authority (2012-2013). He also served as the President
Jasa Keuangan (2012-2013). Selain itu, pernah juga menjabat Commissioner of the Indonesia Stock Exchange (2014-2017).
sebagai Komisaris Utama PT Bursa Efek Indonesia (2014-2017).

Rangkap Jabatan                                                   Concurrent Position
Tidak memiliki rangkap jabatan di perusahaan lain.                Does not have any concurrent position in other companies.

Hubungan Afiliasi                                                 Affiliation Relationship
Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationship with the
dengan anggota Dewan Komisaris lainnya, anggota Direksi, serta other members of Board of Commissioners, members of Board of
Pemegang Saham Utama dan Pengendali.                             Directors, as well as with the Main and Controlling Shareholders.

Pernyataan Independensi                                           Statement of Independence
Beliau telah menjabat selama 3 periode dan telah menandatangani He has served for 3 terms and has signed statement of
surat pernyataan independensi setelah diputuskan efektif menjabat independence after being effectively appointed in 2021 for a term
tahun 2021 untuk masa jabatan sampai dengan tahun 2024.           of office until 2024.




                                                                                           Laporan Tahunan 2023
                                                                                              2023 Annual Report            45
Page 48
02         LAPORAN MANAJEMEN
           Management Report




                                                  KETUT SANJAYA
                                                  Komisaris Independen
                                                  Independent Commissioner

                                                          Kewarganegaraan                        Nationality
                                                          Warga Negara Indonesia                 Indonesian Citizen

                                                          Usia                                   Age
                                                          72 tahun                               72 years old

                                                          Domisili                               Domicile
                                                          Jakarta                                Jakarta




     Riwayat Pendidikan                                                Educational Background
     Sarjana jurusan Sosial Ekonomi Pertanian, Universitas Padjadjaran Bachelor of Agricultural Social Economics from Universitas
     (1977) dan memperoleh gelar Master of Management dari Arthur Padjajaran (1977) and Master of Management from Arthur D Little
     D Little Management Education Institute di Boston, Amerika Serikat Management Education Institute, Boston, USA (1984).
     (1984).

     Riwayat Jabatan di Perseroan                                      List of Positions Held in Company
     Menjabat sebagai Komisaris Independen sejak 2022 dengan masa Served as Independent Commissioner since 2022 with a serving
     tugas sampai dengan tahun 2024 berdasarkan Akta Pernyataan period until 2024 based on Deed of PT Sinar Mas Multiartha Tbk
     Keputusan Rapat PT Sinar Mas Multiartha Tbk No. 57 tanggal Meeting Resolutions No. 57 dated 14 June 2022.
     14 Juni 2022.

     Pengalaman Kerja                                                  Work Experience
     Memiliki pengalaman panjang sebagai Pejabat Karier di Bank Has an extensive experience as Career Officer with Bank
     Indonesia, yakni Analis Kredit (1979-1983), Staf Human Resources Indonesia, i.e. Credit Analyst (1979-1983), Human Resources
     Department (1984-1985), Pemeriksa Bank (1985-1994), Pengawas Department Staff (1984-1985), Bank Examiner (1985-1994), Bank
     Bank (1994-2004), Pemimpin Bank Indonesia Bali, Nusa Tenggara Supervisor (1994-2004), Head of Bank Indonesia Bali, West Nusa
     Barat (NTB), dan Nusa Tenggara Timur (NTT) (2004-2007), Tenggara (NTB), and East Nusa Tenggara (NTT) (2004-2007),
     Wakil Direktur Direktorat Pengawasan Perbankan 2 (2007), Deputy Director of Banking Supervision Directorate 2 (2007),
     Direktur Direktorat Pengawasan Perbankan 2 (2007-2008), Director of Banking Supervision Directorate 2 (2007-2008), Senior
     Peneliti Senior Direktorat Riset dan Regulasi Perbankan (2008- Researcher of Banking Research and Regulation Directorate
     2009). Selain itu, beliau pernah menjabat sebagai Komisaris (2008-2009). In addition, he served as Independent Commissioner
     Independen di PT Bank Barclays Indonesia (2009-2011), serta at PT Bank Barclays Indonesia (2009-2011), as well as members of
     anggota Komite Audit dan Komite Pemantau Risiko di PT Bank the Audit Committee and Risk Monitoring Committee at PT Bank
     Sinarmas Tbk (2011-2021).                                        Sinarmas Tbk (2011-2021).

     Rangkap Jabatan                                                   Concurrent Position
     Menduduki beberapa posisi di grup usaha Sinarmas, antara Held several positions in Sinarmas business group, i.e.,
     lain Komisaris Independen PT Golden Energy Mines Tbk Independent Commissioner of PT Golden Energy Mines Tbk
     (sejak 2011), anggota Komite Audit PT Sinar Mas Agro Resources (since 2011), Audit Committee member of PT Sinar Mas Agro
     and Technology Tbk (sejak 2015), dan Komisaris Independen, Resources and Technology Tbk (since 2015), and Independent
     Ketua Komite Audit, serta Ketua Komite Nominasi dan Remunerasi Commissioner, Chairman of Audit Committee, and Chairman of
     PT Smartfren Telecom Tbk (sejak 2021).                         the Nomination Committee and Remuneration of PT Smartfren
                                                                    Telecom Tbk (since 2021).

     Hubungan Afiliasi                                                 Affiliation Relationship
     Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationship with the
     dengan anggota Dewan Komisaris lainnya, anggota Direksi, serta other members of Board of Commissioners, members of Board of
     Pemegang Saham Utama dan Pengendali.                             Directors, as well as with the Main and Controlling Shareholders.

     Pernyataan Independensi                                           Statement of Independence
     Beliau telah menjabat selama 3 periode dan telah menandatangani He has served for 3 terms and has signed statement of
     surat pernyataan independensi setelah diputuskan efektif menjabat independence after being effectively appointed in 2021 for a term
     tahun 2021 untuk masa jabatan sampai dengan tahun 2024.           of office until 2024.




           Laporan Tahunan 2023
46         2023 Annual Report
Page 49
                                                                      PT SINAR MAS MULTIARTHA TBK




Perubahan Komposisi                                      Changes in the Composition
Anggota Dewan Komisaris dan                              of the Board of Commissioners and
Alasan Perubahannya                                      Reasons for the Changes

Selama tahun 2023, telah terjadi perubahan komposisi     Throughout the year 2023, there was a change in the
anggota Dewan Komisaris karena Komisaris Utama           composition of the Board of Commissioners due to the
mengundurkan diri. Adapun perubahan komposisi tersebut   resignation of the President Commissioner. The changes in
ditunjukkan sebagai berikut.                             composition are as follows:


1 Januari 2023-27 Juni 2023                              1 January 2023–27 June 2023:
Komisaris Utama           : Indra Widjaja                President Commissioner   : Indra Widjaja
Komisaris                 : Howen Widjaja                Commissioner             : Howen Widjaja
Komisaris                 : Fuganto Widjaja              Commissioner             : Fuganto Widjaja
Komisaris Independen      : Robinson Simbolon            Independent Commissioner : Robinson Simbolon
Komisaris Independen      : Ketut Sanjaya                Independent Commissioner : Ketut Sanjaya


27 Juni 2023-2024                                        27 June 2023-2024:
Komisaris Utama           : Fuganto Widjaja              President Commissioner   : Fuganto Widjaja
Komisaris                 : Howen Widjaja                Commissioner             : Howen Widjaja
Komisaris                 : Dani Lihardja                Commissioner             : Dani Lihardja
Komisaris Independen      : Robinson Simbolon            Independent Commissioner : Robinson Simbolon
Komisaris Independen      : Ketut Sanjaya                Independent Commissioner : Ketut Sanjaya




                                                                               Laporan Tahunan 2023
                                                                                  2023 Annual Report       47
Page 50
02          LAPORAN MANAJEMEN
            Management Report




Profil Direksi
Profile of the Board of Directors



                                                  BURHANUDDIN ABDULLAH
                                                  Direktur Utama
                                                  President Director

                                                           Kewarganegaraan                        Nationality
                                                           Warga Negara Indonesia                 Indonesian Citizen

                                                           Usia                                   Age
                                                           76 tahun                               76 years old

                                                           Domisili                               Domicile
                                                           Jakarta                                Jakarta




      Riwayat Pendidikan                                               Educational Background
      Sarjana Pertanian, Universitas Padjadjaran (1974) dan Master of Bachelor of Agriculture, Universitas Padjadjaran (1974) and
      Arts in Economics, college of Business, Michigan State University Master of Arts in Economics, college of Business, Michigan State
      (1984).                                                           University (1984).

      Riwayat Jabatan di Perseroan                                     List of Positions Held in Company
      Menjabat sebagai Direktur Utama sejak 2021 dengan masa Served as President Director since 2021 with a serving period
      tugas sampai dengan tahun 2024 berdasarkan Akta Pernyataan until 2024 based on Deed of PT Sinar Mas Multiartha Tbk Meeting
      Keputusan Rapat PT Sinar Mas Multiartha Tbk No. 5 tanggal Resolutions No. 5 dated 29 June 2021. Previously, he served as the
      29 Juni 2021. Sebelumnya, beliau menjabat sebagai Komisaris Company’s Independent Commissioner (2016-June 2021).
      Independen Perseroan (2016-Juni 2021).

      Pengalaman Kerja                                                 Work Experience
      Pernah dipercaya untuk menjadi Staf Badan Urusan Cess- Served as Staff of the Cess-Directorate General of Agricultural
      Direktorat Jenderal Perkebunan Pertanian, Banda Aceh Plantation Affairs, Banda Aceh (1975), Staff of PT Intraport Teh Jaya
      (1975), Staf PT Intraport Teh Jaya (Unilever Tea Department (Unilever Tea Department (1976-1978)), Staff of the Production
      (1976-1978), Staf Bagian Kredit Produksi-Urusan Kredit Umum Credit Division-General Credit Affairs of Bank Indonesia
      Bank Indonesia (1979-1983), Staf Bagian Ekonomi Umum- (1979-1983), Staff of the Economic Section General-Research and
      Urusan Riset dan Statistik Bank Indonesia (1984-1985), Staf Statistics of Bank Indonesia (1984-1985), Staff of the Governor
      Gubernur Bank Indonesia (1986-1988), Staf Asia Pacific of Bank Indonesia (1986-1988), Asia Pacific Department Staff
      Department International Monetary Fund (IMF), Washington DC of International Monetary Fund (IMF), Washington DC (1989-
      (1989-1990), Assistant Executive Director IMF, South East Asia 1990), Assistant Executive Director of IMF, South East Asia Group
      Group (1991-1993). Selain itu, beliau juga pernah menjabat (1991-1993). In addition, he has also served as Head of Economic
      sebagai Kepala Bagian Kerja Sama Ekonomi dan Perdagangan and International Foreign Cooperation-Foreign Affairs Division
      Internasional-Urusan Luar Negeri Bank Indonesia (1994), Wakil of Bank Indonesia (1994), Deputy Head of Foreign Affairs of
      Kepala Urusan Luar Negeri Bank Indonesia (1995), Wakil Kepala Bank Indonesia (1995), Deputy Head of Economic and Monetary
      Urusan Riset Ekonomi dan Moneter Bank Indonesia (1996-1997), Research of Bank Indonesia (1996-1997), Director of Foreign
      Direktur Direktorat Luar Negeri Bank Indonesia (1998-1999), Affairs Directorate of Bank Indonesia (1998-1999), Deputy
      Deputi Gubernur Bank Indonesia (2000), Menteri Koordinator Governor of Bank Indonesia (2000), Coordinating Minister for
      Perekonomian pada Kabinet Gotong Royong (2001), serta the Economy in Gotong Royong Cabinet (2001), and Governor of
      Gubernur Bank Indonesia (2003-2008). Beliau kemudian menjabat Bank Indonesia (2003-2008). He then served as Rector of Institut
      sebagai Rektor Institut Koperasi Indonesia Bandung (2011-2023). Koperasi Indonesia Bandung (2011-2023).

      Rangkap Jabatan                                                  Concurrent Position
      Tidak memiliki rangkap jabatan di perusahaan lain.               Does not have any concurrent position in other companies.

      Hubungan Afiliasi                                                Affiliation Relationship
      Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationship with the
      dengan anggota Direksi lainnya, Dewan Komisaris, serta Pemegang other members of the Board of Directors, Board of Commissioners,
      Saham Utama dan Pengendali.                                      as well as with the Main and Controlling Shareholders.




            Laporan Tahunan 2023
 48         2023 Annual Report
Page 51
                                                                                 PT SINAR MAS MULTIARTHA TBK




                                             AGUS LEMAN GUNAWAN
                                             Direktur
                                             Director

                                                      Kewarganegaraan                        Nationality
                                                      Warga Negara Indonesia                 Indonesian Citizen

                                                      Usia                                   Age
                                                      68 tahun                               68 years old

                                                      Domisili                               Domicile
                                                      Jakarta                                Jakarta




Riwayat Pendidikan                                                Educational Background
Meraih gelar Bachelor of Science, jurusan Business Administration He has a Bachelor of Science in Business Administration and
and Economics (1981) dan Master of Science jurusan Business Education Economics (1981) and a Master of Science in Business Education
(1983) di Portland State University, Oregon. Pernah mengikuti (1983) from Portland State University, Portland, Oregon. He
pelatihan The Pacific Rim Bankers Program (PRBP) di Seattle, attended The Pacific Rim Bankers Program (PRBP) training,
Amerika Serikat (1991) dan Sekolah Pimpinan Bank Indonesia, Seattle, USA (1991), and Bank Indonesia Leadership School,
Lembaga Pengembangan Perbankan Indonesia (LPPI) (1994).               Indonesia Banking Development Institute (LPPI) (1994).
Riwayat Jabatan di Perseroan                                      List of Positions Held in Company
Menjabat sebagai Direktur sejak 2012 dan diangkat kembali Served as Director since 2012 and reappointed in 2021 with
pada tahun 2021 dengan masa tugas sampai dengan tahun 2024 a serving period until 2024 based on Deed of PT Sinar Mas
berdasarkan Akta Pernyataan Keputusan Rapat PT Sinar Mas Multiartha Tbk Meeting Resolutions No. 5 dated 29 June 2021.
Multiartha Tbk No. 5 tanggal 29 Juni 2021.
Pengalaman Kerja                                                  Work Experience
Mengawali karier profesional sebagai Senior Vice President - Started his professional career as Senior Vice President - Treasury
Treasury and Financial Products Chase Manhattan Bank NA and Financial Products at Chase Manhattan Bank NA Jakarta
Jakarta (1983-1989). Kemudian, dipercaya mengisi beberapa (1983-1989). He has held various key positions at multiple companies,
posisi penting di berbagai perusahaan, seperti Executive Vice namely Executive Vice President-Managing Director - Treasury
President, Managing Director - Treasury and International Business and International Business Area at PT Bank Danamon Indonesia
Area PT Bank Danamon Indonesia Tbk (1989-1998), Senior Vice Tbk (1989-1998), Senior Vice President of Treasury and Global
President Treasury and Global Markets Rabobank Indonesia Markets at Rabobank Indonesia (1999–2001), President Director at
(1999-2001), Presiden Direktur PT Perdana Waralaba (2002), PT Perdana Waralaba (2002), Director of Finance - Accounting,
Director of Finance - Accounting, Finance, and Tax PT Voksel Finance, and Tax at PT Voksel Cable (2003-2005), Senior
Cable (2003-2005), Senior Advisor PT Bank Sinarmas Tbk (2006- Advisor at PT Bank Sinarmas Tbk (2006-2010), President
2010), Presiden Komisaris PT Dana Usaha Makmur (2011), dan Commissioner at PT Dana Usaha Makmur (2011), and
Komisaris PT Zimba Onix Mustik (2021-2022). Selain itu, beliau Commissioner PT Zimba Onix Mustika (2021-2022). In addition,
juga dipercaya untuk menjadi anggota Komite Audit di beberapa he also served as an Audit Committee member in several
perusahaan, yakni PT Dian Swastatika Sentosa Tbk (2010-2012), companies, i.e. PT Dian Swastatika Sentosa Tbk (2011-2012),
PT Sinar Mas Agro Resources & Technology Tbk (2011-2012), dan PT Sinar Mas Agro Resources & Technology Tbk (2010-2012), and
PT Duta Pertiwi Tbk (2011-2012).                                   PT Duta Pertiwi Tbk (2011-2012).
Rangkap Jabatan                                                   Concurrent Position
Komisaris Utama PT Dana Pinjaman Inklusif (sejak 2018) President Commissioner of PT Dana Pinjaman Inklusif (since 2018)
serta menduduki jabatan Komisaris di beberapa Entitas Anak also held Commissioner position at several of the Company’s
Perseroan, meliputi PT Sistem Loka Triprima dan PT Data Opal Subsidiaries, i.e. PT Sistem Loka Triprima and PT Data Opal
Terpadu (sejak 2021).                                        Terpadu (since 2021).
Hubungan Afiliasi                                                 Affiliation Relationship
Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationship with the
dengan anggota Direksi lainnya, Dewan Komisaris, serta Pemegang other member of the Board of Directors, Board of Commissioners,
Saham Utama dan Pengendali.                                      as well as with the Main and Controlling Shareholders.




                                                                                           Laporan Tahunan 2023
                                                                                              2023 Annual Report             49
Page 52
02         LAPORAN MANAJEMEN
           Management Report




                                                  FELIX
                                                  Direktur
                                                  Director

                                                          Kewarganegaraan                        Nationality
                                                          Warga Negara Indonesia                 Indonesian Citizen

                                                          Usia                                   Age
                                                          40 tahun                               40 years old

                                                          Domisili                               Domicile
                                                          Jakarta                                Jakarta




     Riwayat Pendidikan                                                Educational Background
     Sarjana lulusan Ekonomi, Universitas Tarumanagara (2007) dan Bachelor of Economics, Universitas Tarumanagara (2007) and
     Pendidikan Profesi Akuntansi, Universitas Tarumanagara (2013). Accounting Profession Education, Universitas Tarumanagara (2013).

     Riwayat Jabatan di Perseroan                                      List of Positions Held in Company
     Menjabat sebagai Direktur sejak 2021 dengan masa tugas sampai Served as Director since 2021 with a serving period until 2024
     dengan tahun 2024 berdasarkan Akta Pernyataan Keputusan based on Deed of PT Sinar Mas Multiartha Tbk Meeting Resolutions
     Rapat PT Sinar Mas Multiartha Tbk No. 4 tanggal 29 Juni 2021. No. 4 dated 29 June 2021. He also served as the Company’s
     Pernah menjabat sebagai Manajer Perseroan (2013-2016). Manager (2013-2016). Currently, he also serves as the Corporate
     Saat ini, beliau juga menjabat sebagai Sekretaris Perusahaan Secretary since 3 July 2023 based on the Board of Directors Decree
     sejak 3 Juli 2023 berdasarkan Surat Keputusan Direksi No. SK: 115/SK-DIR/SMMA/VII/2023.
     No. SK: 115/SK-DIR/SMMA/VII/2023.

     Pengalaman Kerja                                                  Work Experience
     Memulai karier sebagai Auditor KAP Mulyamin Sensi Suryanto He started his career as an Auditor of KAP Mulyamin Sensi Suryanto
     & Lianny (2007-2013). Kemudian, menempati posisi Direktur PT & Lianny (2007-2013). Then, he held the position of Director of
     AB Sinar Mas Multifinance (2016-2019), Direktur Utama PT AB PT AB Sinar Mas Multifinance (2016-2019), President Director of
     Sinar Mas Multifinance (2019-2021), dan Komisaris PT Simas Poin PT AB Sinar Mas Multifinance (2019-2021), and Commissioner of
     Indonesia (2021-2022).                                          PT Simas Poin Indonesia from 2021 to 2022.

     Sertifikasi                                                       Certification
     Beliau memiliki register negara akuntan dari Kementerian Keuangan He obtained registered state accountant from the Ministry of
     Republik Indonesia (2016), sertifikasi akuntan publik dari Ikatan Finance of the Republic of Indonesia (2016), public accountant
     Akuntan Publik Indonesia (2017), sertifikasi ahli pembiayaan certification from the Indonesian Public Accountants Association
     dari Sertifikasi Profesi Pembiayaan Indonesia (2017), sertifikasi (2017), a financing expert certification from the Indonesian
     manajemen risiko dari Badan Sertifikasi Manajemen Risiko (2017), Financing Professional Certification (2017), a risk management
     sertifikasi manajemen risiko – Direksi dari Sertifikasi Profesi certification from the Risk Management Certification Agency
     Pembiayaan Indonesia (2023), dan sertifikasi dasar Komisaris dari (2017), risk management certification - Directors from
     Sertifikasi Profesi Pembiayaan Indonesia (2023).                  Certification of Indonesian Financing Professionals (2023), and
                                                                       basic Commissioner certification from Certification of Indonesian
                                                                       Financing Professionals (2023).

     Rangkap Jabatan                                                   Concurrent Position
     Menjabat sebagai Direktur PT Dana Saham Bersama, PT Shinta Served as Director of PT Dana Saham Bersama, PT Shinta
     Utama, dan PT Sinartama Gunita (sejak 2021), serta Direktur Utama, and PT Sinartama Gunita (since 2021), and Director of
     PT Artha Bina Usaha (sejak 2022). Beliau juga menjabat sebagai PT Artha Bina Usaha (since 2022). Also served as Commissioner
     Komisaris PT Digital Solusindo Nusantara (sejak 2021), Direktur of PT Digital Solusindo Nusantara (since 2021), Director of
     PT Artha Bina Usaha, Komisaris PT Pasar Gadai Digital, dan PT Artha Bina Usaha, Commissioner of PT Pasar Gadai Digital, and
     Komisaris PT AB Sinar Mas Multifinance (sejak 2022).            Commissioner of PT AB Sinar Mas Multifinance (since 2022).

     Hubungan Afiliasi                                                 Affiliation Relationship
     Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationship with the
     dengan anggota Direksi lainnya, Dewan Komisaris, serta Pemegang other member of the Board of Directors, Board of Commissioners,
     Saham Utama dan Pengendali.                                      as well as with the Main and Controlling Shareholders.




           Laporan Tahunan 2023
50         2023 Annual Report
Page 53
                                                                                      PT SINAR MAS MULTIARTHA TBK




                                                FERITA
                                                Direktur
                                                Director

                                                         Kewarganegaraan                           Nationality
                                                         Warga Negara Indonesia                    Indonesian Citizen

                                                         Usia                                      Age
                                                         47 tahun                                  47 years old

                                                         Domisili                                  Domicile
                                                         Jakarta                                   Jakarta




Riwayat Pendidikan                                                    Educational Background
Sarjana Ekonomi jurusan Akuntansi, Universitas Trisakti (1998) dan Bachelor of Economics majoring in Accounting, Universitas Trisakti
Magister Manajemen jurusan International Executive, Universitas (1998) and Master of Management majoring in International
Pelita Harapan (2020).                                             Executive, Universitas Pelita Harapan (2020).

Riwayat Jabatan di Perseroan                                          List of Positions Held in Company
Menjabat sebagai Direktur sejak 2021 dengan masa tugas sampai Served as Director since 2021 with a serving period until
dengan tahun 2024 berdasarkan Akta Pernyataan Keputusan Rapat 2024 based on Deed of PT Sinar Mas Multiartha Tbk Meeting
PT Sinar Mas Multiartha Tbk No. 4 tanggal 29 Juni 2021.       Resolutions No. 4 dated 29 June 2021.

Pengalaman Kerja                                                      Work Experience
Memulai karier sebagai Senior Auditor KAP Purwantono, Sungkoro Started her career as Senior Auditor of KAP Purwantono, Sungkoro
& Surja (Ernst & Young) (2000-2005). Kemudian, menjabat & Surja (Ernst & Young) (2000-2005). Then, she served as Assistant
sebagai Assistant Financial Controller PT Swadharma Kerry Satya Financial Controller of PT Swadharma Kerry Satya (2005-2007), as
(2005-2007), Director of Finance PT Grand Indonesia (2007-2013), Director of Finance of PT Grand Indonesia (2007-2013), as Chief
Chief Financial Officer Sinarmas Mining Group (2013-2015), dan Financial Officer of Sinarmas Mining Group (2013-2015), and
Komisaris Utama di PT Aldiracita Sekuritas (2017-2018). Beliau President Commissioner of PT Aldiracita Sekuritas (2017-2018).
juga pernah menempati berbagai posisi di PT Sinarmas Sekuritas, Also served in multiple positions at PT Sinarmas Sekuritas, such
meliputi Corporate Finance Advisory (2015-2017), Associate Director as Corporate Finance Advisory (2015-2017), Associate Director
(2018-2019), dan Direktur (2019-2021).                              (2018-2019), and Director (2019-2021).

Sertifikasi                                                           Certification
Beliau memiliki sertifikasi Pelatihan Ahli Manajemen Risiko She held Integrated Organization Risk Management Expert
Organisasi Terintegrasi dari Risk & Advisory Performance (2017). certificate from Risk & Advisory Performance (2017). She also
Beliau juga memiliki sertifikasi keahlian sebagai Wakil Perantara has expertise certifications such as Broker-Dealer Representative
Pedagang Efek (2017) dan Wakil Penjamin Emisi Efek (2018) dari (2017) and Underwriter Representative (2018) from The Indonesian
The Indonesian Capital Market Institute, sertifikat profesional dari Capital Market Institute, a professional certificate from International
International Financial Modeling Institute, dan sertifikat Executive Financial Modelling Institute, and Executive Education certificate
Education dari National University of Singapore, Business School from the National University of Singapore, Business School
- Digital Marketing: Strategies, Models, and Frameworks (2021).      - Digital Marketing: Strategies, Models, and Frameworks (2021).

Rangkap Jabatan                                                       Concurrent Position
Menjabat sebagai Komisaris Utama PT Sinarmas Sekuritas Served as President Commissioner of PT Sinarmas Sekuritas
(sejak 2021).                                          (since 2021).

Hubungan Afiliasi                                                     Affiliation Relationship
Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan She has no financial, management, and family relationship with the
dengan anggota Direksi lainnya, Dewan Komisaris, serta Pemegang other member of the Board of Directors, Board of Commissioners,
Saham Utama dan Pengendali.                                      as well as with the Main and Controlling Shareholders.




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report                51
Page 54
02         LAPORAN MANAJEMEN
           Management Report




                                                  LILI WIJATA
                                                  Direktur
                                                  Director

                                                          Kewarganegaraan                        Nationality
                                                          Warga Negara Indonesia                 Indonesian Citizen

                                                          Usia                                   Age
                                                          44 tahun                               44 years old

                                                          Domisili                               Domicile
                                                          Jakarta                                Jakarta




     Riwayat Pendidikan                                                Educational Background
     Bachelor of Computer and Mathematical Sciences, Universitas Bachelor of Computer and Mathematical Sciences, University of
     Western Australia (2001) dan Master of Business Administration, Western Australia (2001) dan Master of Business Administration,
     Universitas Technology Sydney (2003).                           University of Technology Sydney (2003).

     Riwayat Jabatan di Perseroan                                      List of Positions Held in Company
     Menjabat sebagai Direktur sejak 2022 dengan masa tugas sampai Served as Director since 2022 with serving period until 2024 based
     dengan tahun 2024 berdasarkan Akta Pernyataan Keputusan Rapat on Deed of PT Sinar Mas Multiartha Tbk Meeting Resolutions No. 57
     PT Sinar Mas Multiartha Tbk No. 57 tanggal 14 Juni 2022. Beliau dated 14 June 2021. Served as the Company’s Chief Operation Officer
     menjabat sebagai Chief Operation Officer Perseroan (sejak 2021). (since 2021).

     Pengalaman Kerja                                                  Work Experience
     Memulai karier sebagai Senior Manajer PT PricewaterhouseCoopers Started the career as Senior Manager of PT PricewaterhouseCoopers
     (2003-2013). Kemudian, menjabat sebagai Direktur PT GlaxoSmith (2003-2013). Then, served as Director of PT GlaxoSmith Kline
     Kline (2013-2017), Chief Operation Officer PT Alodokter (2017), (2013-2017), Chief Operation Officer of PT Alodokter (2017),
     Strategic Consultant McKinsey (2018-2019), dan Komisaris Strategic Consultant McKinsey (2018-2019), and Commissioner of
     PT Novartis (2019-2021).                                        PT Novartis (2019-2021).

     Rangkap Jabatan                                                   Concurrent Position
     Beliau merangkap jabatan sebagai Direktur PT Data Opal Terpadu She concurrently serves as Director of PT Data Opal Terpadu (since
     (sejak 2023).                                                  2023).

     Hubungan Afiliasi                                                 Affiliation Relationship
     Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan She has no financial, management, and family relationship with the
     dengan anggota Direksi lainnya, Dewan Komisaris, serta Pemegang other member of the Board of Directors, Board of Commissioners,
     Saham Utama dan Pengendali.                                      as well as with the Main and Controlling Shareholders.




           Laporan Tahunan 2023
52         2023 Annual Report
Page 55
                                                                       PT SINAR MAS MULTIARTHA TBK




Perubahan Komposisi Anggota Direksi                       Changes in the Composition
dan Alasan Perubahannya                                   of the Board of Directors and Reasons
                                                          for the Changes

Selama tahun 2023, telah terjadi perubahan komposisi      Throughout the year 2023, there was a change in the
anggota Direksi karena adanya pengangkatan anggota        composition of the Board of Directors due to the appointment
Direksi menjadi anggota Dewan Komisaris Perseroan.        of a member of the Board of Directors to become a member
Adapun perubahan komposisi tersebut ditunjukkan sebagai   of the Company’s Board of Commissioners. The changes in
berikut.                                                  composition are as follows:


1 Januari 2023-27 Juni 2023                               1 January 2023-27 June 2023:
Direktur Utama   : Burhanuddin Abdullah                   President Director : Burhanuddin Abdullah
Direktur         : Agus Leman Gunawan                     Director           : Agus Leman Gunawan
Direktur         : Dani Lihardja                          Director           : Dani Lihardja
Direktur         : Felix                                  Director           : Felix
Direktur         : Ferita                                 Director           : Ferita
Direktur         : Lili Wijata                            Director           : Lili Wijata


27 Juni 2023-2024                                         27 June 2023-2024:
Direktur Utama   : Burhanuddin Abdullah                   President Director : Burhanuddin Abdullah
Direktur         : Agus Leman Gunawan                     Director           : Agus Leman Gunawan
Direktur         : Felix                                  Director           : Felix
Direktur         : Ferita                                 Director           : Ferita
Direktur         : Lili Wijata                            Director           : Lili Wijata




                                                                                 Laporan Tahunan 2023
                                                                                    2023 Annual Report         53
Page 56
01

02

     03
04

05

06




     PROFIL
     PERUSAHAAN

     Laporan Tahunan 2023
54   2023 Annual Report
Page 57
Company Profile



 Laporan Tahunan 2023
    2023 Annual Report   55
Page 58
03         PROFIL PERUSAHAAN
           Company Profile




Identitas Perusahaan
Corporate Identity


                                                    Dasar Hukum Pendirian
                                                    Legal Basis of Establishment
                                                    Akta Notaris Benny Kristianto, SH
                        Nama Perusahaan             No. 60 yang telah disahkan
                          Company Name              oleh Menteri Kehakiman Republik
 PT Sinar Mas Multiartha Tbk                        Indonesia melalui Surat Keputusan
                                                    No. C2-6537. HT.01.01.Th.83
                                                    tanggal 30 September 1983.
                                                    Notarial Deed of Benny Kristianto, SH
                                                    No. 60 which has been
                       Status Perusahaan
                                                    legalized by the Minister of Justice of
                         Company Status
                                                    the Republic of Indonesia under Decree
                        Perusahaan Terbuka.         No. C2-6537. HT.01.01.Th.83
                            Public Company.         dated 30 September 1983.




                              Bidang Usaha          Kepemilikan Saham
                           Line of Business         Share Ownership
           Aktivitas Keuangan dan Asuransi,
    Aktivitas Profesional, Ilmiah dan Teknis,     0.03%                                       42.26%
  serta Perdagangan Besar yang diwakili oleh
                                Entitas Anak.     9.42%
            Financial and Insurance Activities,
        Professional, Scientific and Technical
  Activities, and Wholesaler, represented by
                             the Subsidiaries.




                       Tanggal Pendirian
                   Date of Establishment
                21 Oktober 1982 atas nama
                                                  48.29%
        PT Internas Arta Leasing Company.
           21 October 1982 under the name            Bank of Singapore Limited S/A
      of PT Internas Arta Leasing Company.           PT Sinar Mas Cakrawala
                                                     Indra Widjaja
                                                     PT Sinar Mas Cakrawala
                                                     Masyarakat (masing-masing di bawah 5%)
                             Modal Dasar             Public (each under 5%)
                        Authorized Capital
                     Rp2.849.487.360.000,-
       (dari 21.513.629.568 lembar saham)           Kode Saham
                         Rp2,849,487,360,000        Stock Code
                   (of 21,513,629,568 shares)       SMMA




                             Modal Disetor          Tanggal Pencatatan Saham
                            Paid-Up Capital         Stock Listing Date
                  Rp1,334,890,874,900,000,-         5 July 1995
                   Rp1,334,890,874,900,000          5 July 1995




           Laporan Tahunan 2023
 56        2023 Annual Report
Page 59
                                                                     PT SINAR MAS MULTIARTHA TBK




Tanggal dan Dasar Hukum Perubahan Nama
Date and Legal Basis of the Company Name Change
• 1 Mei 1989 menjadi PT Internas Arta Finance Company, disahkan melalui Akta No. 15 tertanggal1 Mei 1989
  dari Benny Kristianto, SH, notaris di Jakarta, dan telah mendapat persetujuan dari Menteri Kehakiman Republik
  Indonesia tanggal 2 Agustus 1989 melalui Surat Keputusan No. C2-6968.HT.01.04.Th.89. Akta ini telah didaftarkan
  ke Kantor Pengadilan Negeri Jakarta Barat tanggal 16 Agustus 1989 dengan No. 1109/1989; dan
• 25 Februari 1995 menjadi PT Sinar Mas Multiartha Tbk, disahkan melalui Akta No. 218 tertanggal 25 Februari
  1995 dari Veronica Lily Dharma, SH, notaris di Jakarta, dan telah mendapat persetujuan dari Menteri Kehakiman
  Republik Indonesia melalui Surat Keputusan No. C2-5573.HT.01.04.Th.95 tanggal 5 Mei 1995.
• 1 May 1989 changed into PT Internas Arta Finance Company, legalized by Deed No. 15 dated 1 May
  1989 of Benny Kristianto, SH, public notary in Jakarta, and has been approved by the Minister of Justice
  of the Republic of Indonesia under Decree No. C2-6968.HT.01.04.Th.89 dated 2 August 1989. The deed
  has been registered at West Jakarta District Court on 16 August 1989 under No. 1109/1989; and
• 25 February 1995 changed into PT Sinar Mas Multiartha, legalized by Deed No. 218 dated 25 February
  1995 of Veronica Lily Dharma, SH, public notary in Jakarta, and has been approved by the Minister of
  Justice of the Republic of Indonesia under Decree No. C2-5573.HT.01.04.Th.95 dated 5 May 1995.




Akta Perubahan Terakhir
Deed of the Last Amendment
Akta No. 132 tertanggal 27 Juni 2023 dari Aulia Taufani, SH, notaris di Jakarta, antara lain tentang perubahan
Pasal 4 mengenai perubahan Rapat Umum Pemegang Saham; Pasal 10 mengenai Tempat, Pemberitahuan,
Pengumuman, Pemanggilan dan Pimpinan Rapat Umum Pemegang Saham (RUPS); Pasal 11 mengenai Tata Tertib,
Kuorum, Hak Suara dan Keputusan RUPS; Pasal 20 mengenai Rencana Kerja, Tahun Buku, dan Laporan Tahunan;
Pasal 22 mengenai Penggunaan Laba dan Pembagian Dividen. Perubahan Anggaran Dasar ini telah diterima
dan dicatat oleh Menteri Hukum dan Hak Asasi Manusia dengan Surat Keputusan No. AHU-AH.01.03-0091781
tanggal 14 Juli 2023.
Notarial Deed No. 132 dated 27 June 2023 of Aulia Taufani, SH, a public notary in Jakarta, among other, concerns the
amendment of Article 4 regarding changes to the General Meeting of Shareholders (GMS); Article 10 concerning Venue,
Notices, Announcements, Convocation, and Leadership of the GMS; Article 11 regarding Rules of Procedure, Quorum,
Voting Rights, and Resolutions of the GMS; Article 20 regarding Work Plans, Fiscal Year, and Annual Reports; Article
22 concerning the Utilization of Profits and Dividend Distribution. These amendments to the Articles of Association
have been accepted and recorded by the Minister of Law and Human Rights in Decree No. AHU-AH.01.03-0091781
dated 14 July 2023.




Jumlah Saham Beredar
Number of Outstanding Shares
6.367.664.717 lembar saham                                 6,367,664,717 shares




Jumlah Karyawan (per Desember 2023)
Total Employee (per December 2023)
Perseroan            : 56 orang                            Company              : 56 employees
Entitas Anak         : 8.983 orang                         Entitas Anak         : 8,983 employees




Kantor Pusat
Head Office
Menara Tekno Lt. 7
Jl. Fachruddin No. 19, Jakarta Pusat, 10250
   (021) 392 5660             (021) 392 5788           multiartha@smma.co.id              www.smma.co.id




                                                                               Laporan Tahunan 2023
                                                                                  2023 Annual Report           57
Page 60
03           PROFIL PERUSAHAAN
             Company Profile




Perubahan yang Bersifat Signifikan                            Significant Changes

Perubahan yang bersifat signifikan bagi Perseroan selama      Significant changes for the Company throughout 2023 are
tahun 2023, yakni:                                            as follows:
1. Penjualan seluruh saham PT Bima Multi Finance kepada       1. Sales of all shares of PT Bima Multi Finance to Cedar
   Cedar Street Limited yang berkedudukan di Hongkong;            Street Limited domiciled di Hong Kong;
2. Mendirikan Bank Umum Syariah dengan nama                   2. Established Sharia Commercial Bank under the name of
   PT Bank Nano Syariah bersama-sama dengan PT Bank               PT Bank Nano Syariah with PT Bank Sinarmas Tbk and
   Sinarmas Tbk dan PT Asuransi Sinar Mas;                        PT Asuransi Sinar Mas;
3. Membentuk Entitas Anak Baru, yakni PT Kreasi Retail        3. Established new Subsidiary, namely PT Kreasi Retail
   Nusantara.                                                     Nusantara.




Riwayat Singkat
Brief History of the Company

Didirikan pada tanggal 21 Oktober 1982, PT Sinar Mas          Established on 21 October 1982, PT Sinar Mas Multiartha
Multiartha Tbk (Perseroan) semula dikenal dengan nama         Tbk (the Company) was initially known as PT Internas
PT Internas Arta Leasing Company sebagai perusahaan           Arta Leasing Company as a company engaged in
yang bergerak di bidang sewa pembiayaan, anjak piutang,       leasing, factoring and consumer financing. In 1989,
dan pembiayaan konsumen. Pada tahun 1989, Perseroan           the Company changed its name again to PT Internas
kembali mengubah namanya menjadi PT Internas Arta             Arta Finance Company. With the approval of the
Finance Company. Atas persetujuan Pemegang Saham,             Shareholders, the name was again changed to PT Sinar Mas
perubahan nama kembali dilakukan menjadi PT Sinar Mas         Multiartha Tbk, effective on 25 February 1995.
Multiartha Tbk, efektif pada 25 Februari 1995.


Pada tahun yang sama, Perseroan melakukan penawaran           In the same year, the Company held a public offering of shares
umum saham ke masyarakat dan mencatatkan saham di             and listed its shares on the Indonesia Stock Exchange. A year
Bursa Efek Indonesia. Satu tahun setelahnya, Perseroan        later, the Company decided to change its line of business
memutuskan mengganti bidang usaha menjadi bidang              to trade, industry, transportation, real estate and services,
perdagangan, industri, angkutan, real estat, dan jasa, yang   represented by the Subsidiaries.
diwakili oleh Entitas Anak.


Melihat perkembangan pasar yang semakin dinamis               Seeing the growing market dynamics and rising community
dan permintaan masyarakat yang semakin meningkat,             demand, the Company and its Subsidiaries constantly strive in
Perseroan beserta Entitas Anak berupaya untuk selalu          providing quality products and services to stakeholders. The
menyediakan produk dan jasa yang berkualitas kepada           Company also implements sustainability principles in every
para pemangku kepentingan. Perseroan turut menerapkan         line of business as it is concern to achieve business balance in
prinsip-prinsip keberlanjutan di setiap lini usaha sebagai    economic, environmental and social aspects.
bentuk kepedulian dalam mencapai keseimbangan bisnis
baik dari sisi ekonomi, lingkungan, dan sosial.




             Laporan Tahunan 2023
  58         2023 Annual Report
Page 61
PT SINAR MAS MULTIARTHA TBK




       Laporan Tahunan 2023
          2023 Annual Report   59
Page 62
03         PROFIL PERUSAHAAN
           Company Profile




Jejak Langkah
Milestones

   1982                                                               2003
   Perseroan didirikan dengan nama PT Internas Arta Leasing           • Perseroan melaksanakan Reverse Stock Split (peningkatan
   Company.                                                             nilai nominal saham) dan penambahan seri saham;
   The Company was established under the name of PT Internas          • Perseroan melaksanakan Penawaran Umum Terbatas II
   Arta Leasing Company.                                                dalam rangka penerbitan HMETD; serta
                                                                      • Perseroan telah melakukan tambahan investasi pada
                                                                        PT Jakarta Teknologi Utama Motor, PT Arthamas Solusindo,

   1989                                                                 PT Shinta Utama, PT Sinar Mas Multifinance, dan
                                                                        penyertaan modal pada PT Asuransi Sumit Oto.
   Perseroan berubah nama menjadi PT Internas Arta Finance            • The Company conducted Reverse Stock Split and issued
   Company.                                                             additional series of shares;
   The Company changed its name to PT Internas Arta Finance           • The Company launched Right Issue II through Limited
   Company.                                                             Public Offering II; and
                                                                      • The Company increased its investment at PT Jakarta
                                                                        Teknologi Utama Motor, PT Arthamas Solusindo, PT

   1995                                                                 Shinta Utama, PT Sinar Mas Multifinance, and capital at PT
                                                                        Asuransi Sumit Oto.
   • Perseroan berubah nama menjadi PT Sinar Mas Multiartha
     Tbk; dan
   • Perseroan memperoleh pernyataan efektif dari Badan               2005
     Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam)
     (initial public offering) dan mencatatkan sahamnya di            Perseroan melaksanakan Penawaran Umum Terbatas III
     Pasar Modal, yaitu PT Bursa Efek Jakarta dan PT Bursa            dalam rangka penerbitan HMETD.
     Efek Surabaya.                                                   The Company launched Right Issue III through Limited Public
   • The Company changed its name to PT Sinar Mas Multiartha          Offering III.
     Tbk; and
   • The Company obtained effective letter from the Capital
     Market Supervisory Agency (Bapepam) to conduct initial           2008
     public offering and to list its shares in Jakarta Stock
     Exchange and Surabaya Stock Exchange.                            Perseroan menyelenggarakan Penawaran Umum Terbatas IV
                                                                      dalam rangka penerbitan HMETD.
                                                                      The Company launched Right Issue IV through Limited Public

   1996                                                               Offering IV.


   • Perseroan mengganti bidang usahanya, semula pembiayaan
     menjadi holding company, sedangkan untuk kegiatan                2011
     pembiayaan dialihkan kepada PT Sinar Mas Multifinance; dan
   • Perseroan melakukan Penawaran Umum Terbatas I dalam              • Perseroan melakukan tambahan investasi pada PT Jakarta
     rangka penerbitan Hak Memesan Efek Terlebih Dahulu                 Teknologi Utama Motor dan PT Sinar Mas Multifinance; dan
     (HMETD).                                                         • Pada 11 Juli 2011, Perseroan menjual 50% saham PT Asuransi
   • The Company changed its line of business from financing to         Jiwa Sinarmas kepada MSI. Aksi korporasi ini menyebabkan
     holding company, and transferred its financing activities to       Entitas Anak tersebut melakukan perubahan nama menjadi
     PT Sinar Mas Multifinance; and                                     PT MSIG Life Insurance Indonesia Tbk (dahulu PT Asuransi
   • The Company launched Right Issue I through Limited Public          Jiwa Sinarmas MSIG Tbk).
     Offering I.                                                      • The Company increased its investment at PT Jakarta
                                                                        Teknologi Utama Motor and PT Sinar Mas Multifinance; and
                                                                      • On 11 July 2011, the Company sold 50% of its shares at
                                                                        PT Asuransi Jiwa Sinarmas to MSI. As a result of this corporate
                                                                        action, there was a change in the name of the Subsidiary to
                                                                        PT MSIG Life Insurance Indonesia Tbk (formerly PT Asuransi
                                                                        Jiwa Sinarmas MSIG Tbk).




1982 - 1996                                                         2003 - 2011

           Laporan Tahunan 2023
 60        2023 Annual Report
Page 63
                                                                            PT SINAR MAS MULTIARTHA TBK




  2012                                                            2015
  Perseroan melakukan tambahan investasi pada PT Sinar Mas        • Pada 12 Juni 2015, Perseroan telah melakukan Rapat Umum
  Multifinance, PT Jakarta Teknologi Utama, PT Shinta Utama,        Pemegang Saham Tahunan (RUPS Tahunan) dan Rapat Umum
  dan PT AB Sinar Mas Multifinance.                                 Pemegang Saham Luar Biasa (RUPS Luar Biasa);
  The Company increased its investment at PT Sinar Mas            • Pada Juni 2015 ini juga Perseroan telah melakukan penyertaan
  Multifinance, PT Jakarta Teknologi Utama, PT Shinta Utama,        modal pada PT Sinarmas Hana Finance sebesar Rp22,5 miliar;
  and PT AB Sinar Mas Multifinance.                               • Pada bulan Oktober 2015, Entitas Anak, yaitu PT Asuransi
                                                                    Sinar Mas telah melakukan pembelian 50% saham
                                                                    PT Asuransi Jiwa Mega Life dari Pemegang Saham lama
  2013                                                              yaitu PT Mega Corpora, yang diikuti dengan perubahan
                                                                    nama menjadi PT Asuransi Simas Jiwa;
  • Pada 5 Februari 2013, Perseroan mengonversi seluruh           • Pada 20 November 2015, Perseroan melakukan RUPS Luar
    pinjaman pada Global Asian Investment Limited (GAI)             Biasa yang antara lain menyetujui rencana Perseroan untuk
    menjadi modal dasar sebesar HKD3.999.999;                       melakukan penambahan modal tanpa hak memesan efek
  • Pada 1 Maret 2013, Perseroan menjual seluruh saham              terlebih dahulu (PMTHMETD) sebesar 10% dari seluruh
    PT Oto Multiartha dan PT Summit Oto Finance yang dimiliki;      saham yang telah di tempat dan disetor penuh dalam
  • Perseroan telah melakukan tambahan investasi pada               Perseroan atau sebanyak 623.780.871 saham Seri B dengan
    PT Jakarta Teknologi Utama dan PT Sinar Mas Multifinance;       nilai nominal Rp100,- per saham; serta
  • Pada 17 Juni 2013, Perseroan telah melaksanakan               • Pada 15 Desember 2015, Perseroan melaksanakan keterbukaan
    penjualan saham sebesar 35,19% yang ada pada                    informasi tentang pemberitahuan pelaksanaan PMTHMETD
    PT Super Wahana Tehno; serta                                    Tahap I sejumlah 119.856.000 saham dengan nilai nominal
  • Pada September 2013, Perseroan melakukan akuisisi 99,99%        Rp100,- per lembar saham dengan harga pelaksanaan
    saham dari PT Rizki Lancar Sentosa.                             sebesar Rp5.006,- per lembar saham kepada investor
  • On 5 February 2013, the Company converted a total               yaitu PT Summit Auto Group, di mana pihak yang akan
    HKD3,999,999 loan to Global Asian Investment Limited (GAI)      menerima saham tersebut bukanlah Pihak Berelasi/Afiliasi
    into authorized capital;                                        dari Pemegang Saham Pengendali, Dewan Komisaris, dan
  • On 1 March 2013, the Company sold all its shares at             Direksi Perseroan. Selain itu, pelaksanaan PMTHMETD
    PT Oto Multiartha and PT Summit Oto Finance;                    Tahap I tersebut serta pencatatan saham baru di Bursa Efek
  • The Company increased its investment at PT Jakarta              Indonesia dilakukan pada 22 Desember 2015.
    Teknologi Utama and PT Sinar Mas Multifinance;                • On 12 June 2015, the Company conducted Annual General
  • On 17 June 2013, the Company sold 35.19% of its shares at       Meeting of Shareholders and Extraordinary General Meeting
    PT Super Wahana Tehno; and                                      of Shareholders;
  • In September 2013, the Company acquired 99.99%                • In June 2015, the Company made Rp22.5 billion capital
    shares of PT Rizki Lancar Sentosa.                              investment to PT Sinarmas Hana Finance;
                                                                  • In October 2015, the Company’s Subsidiary, PT Asuransi
                                                                    Sinar Mas bought 50% shares of PT Asuransi Jiwa Mega
  2014                                                              Life from its previous Shareholder, PT Mega Corpora and
                                                                    changed its name to PT Asuransi Simas Jiwa;
  • Pada Juni 2014, PT Asuransi Sinar Mas mengumumkan dan         • On 20 November 2015, the Company through Extraordinary
    membagikan dividen kepada PT Sinar Mas Multiartha Tbk           GMS, gave an approval to the Company’s plan to increase
    dan PT Sinar Mas Multifinance sebesar Rp276 miliar; serta       10% of its paid-up capital or 623,780,871 Series B
  • Perseroan telah melakukan investasi antara lain pada Juni       shares with nominal value Rp100 per share by issuing
    2014 kepada PT Wapindo Jasaartha sebesar Rp1,5 miliar           new shares through a Right Issue; and
    dan pada Agustus 2014 kepada PT Sinar Artha Konsulindo        • On 15 December 2015, the Company announced that
    sebesar Rp50 juta.                                              it will issue 119,856,000 new shares with nominal value
  • In June 2014, PT Asuransi Sinar Mas distributed a total of      Rp100 per share and exercise price of Rp5,006 per shares
    Rp276 billion dividend to PT Sinar Mas Multiartha Tbk and       to PT Summit Auto Group, an investor with no affiliation
    PT Sinar Mas Multifinance; and                                  relationship with the Company’s Controlling Shareholder,
  • The Company made Rp1.5 billion investment to PT Wapindo         Board of Commissioners, and Board of Directors. Both Pre-
    Jasaartha in June 2014 and Rp50 million to PT Sinar Artha       Emptive Rights Phase I and listing of new shares in Indonesia
    Konsulindo in August 2014.                                      Stock Exchange is held on 22 December 2015.




2012 - 2013                                                      2015

                                                                                      Laporan Tahunan 2023
                                                                                         2023 Annual Report               61
Page 64
03         PROFIL PERUSAHAAN
           Company Profile




  2016                                                                 2018
  • Perseroan menambah investasi pada PT Oto Multiartha sebesar        Perseroan melakukan tambahan setoran modal/investasi pada
    Rp139 miliar dan PT Summit Oto Finance sebesar Rp366 miliar;       Entitas Anak, yaitu :
  • Perseroan menjual seluruh saham PT Panji Ratu Jakarta              • PT Oriente Mas Sejahtera sebesar Rp3,9 miliar;
    kepada PT Surya Mitra Sejati;                                      • PT Dana Pinjaman Inklusif sebesar Rp2,5 miliar;
  • Perseroan melakukan penyertaan modal pada PT Century               • PT Jakarta Teknologi Utama sebesar Rp50 miliar;
    Tokyo Leasing Indonesia sebesar Rp45 miliar; dan                   • PT Sinar Mas Multifinance sebesar Rp40 miliar;
  • Pada 16 Agustus 2016, Perseroan melangsungkan PMTHMETD             • PT Asuransi Simas Net sebesar Rp39 miliar;
    sebanyak 10.000.000 saham Seri B dengan jumlah dana yang           • PT Peduli Sehat Gotong Royong sebesar Rp6,375 miliar; serta
    diperoleh sebesar Rp50,06 miliar.                                  • PT SGMW Multifinance Indonesia sebesar Rp38 miliar.
  • The Company increased its investment at PT Oto Multiartha          The Company increased its paid-up capital at the following
    by Rp139 billion and PT Summit Oto Finance by Rp366 billion;       Subsidiaries:
  • The Company sold all of its shares at PT Panji Ratu Jakarta to     • PT Oriente Mas Sejahtera by Rp3.9 billion;
    PT Surya Mitra Sejati;                                             • PT Dana Pinjaman Inklusif by Rp2.5 billion;
  • The Company made Rp45 billion capital investment at                • PT Jakarta Teknologi Utama by Rp50 billion;
    PT Century Tokyo Leasing Indonesia; and                            • PT Sinar Mas Multifinance by Rp40 billion;
  • On 16 August 2016, the Company issued 10,000,000 Series B          • PT Asuransi Simas Net by Rp39 billion;
    shares equivalent to Rp50.06 billion through a Right Issue.        • PT Peduli Sehat Gotong Royong by Rp6.375 billion; and
                                                                       • PT SGMW Multifinance Indonesia by Rp38 billion.



                                                                       2019
  2017                                                                 • Perseroan membeli seluruh saham PT Dana Pinjaman
  • Perseroan melakukan penyertaan modal pada beberapa                   Inklusif milik PT Arthamas Solusindo sebanyak 45 lembar
    Entitas Anak, yakni PT Asuransi Simas Jiwa Syariah sebesar           saham atau sebesar Rp45 juta;
    Rp75 miliar, PT Reasuransi Nusantara Makmur sebesar                • Perseroan membeli saham PT Sinar Mitra Sepadan Finance
    Rp3 miliar, serta PT Dana Pinjaman Inklusif sebesar Rp55 juta;       milik Orix Corporation Jepang sebanyak 82,5 ribu lembar
  • Perseroan menambah setoran modal pada PT Pasar Dana                  saham Seri A dan 1,43 miliar lembar saham Seri B dengan
    Pinjaman sebesar Rp2,5 miliar, PT AB Sinar Mas Multifinance          jumlah pembelian sebesar Rp96,19 miliar;
    berturut-turut sebesar Rp220 miliar dan sebesar Rp30 miliar,       • Perseroan melakukan penyertaan modal/investasi pada
    serta pada PT Sinar Mas Multifinance sebesar Rp150 miliar;           beberapa Entitas Anak, yaitu:
  • Perseroan membeli saham PT Asuransi Simas Net sebanyak               - PT Dana Saham Bersama sebesar Rp4,99 miliar;
    14.000 lembar saham atau sebesar Rp14 miliar dari PT Asuransi        - PT SGMW Multifinance Indonesia sebesar Rp76 miliar;
    Sinar Mas dan melakukan tambahan setoran modal pada                  - PT Jakarta Teknologi Utama sebesar Rp100 miliar;
    PT Asuransi Simas Net tersebut sebesar Rp7,5 miliar; serta           - PT Shinta Utama sebesar Rp247,52 miliar; dan
  • Pada 2 Juni 2017, Perseroan mengonversi PMTHMETD                     - PT Rizki Lancar Sentosa sebesar Rp278 miliar; serta
    saham seri B yang telah ditukar menjadi saham sebanyak             • Perseroan menjual sebagian saham PT MSIG Life Insurance
    129.856.000 saham sehingga jumlah saham Seri A dan Seri B            Indonesia Tbk (dahulu PT Asuransi Jiwa Sinarmas MSIG Tbk)
    sebanyak 6.367.664.717 saham.                                        sebanyak 393,75 juta saham biasa.
  • The Company made a capital investment of Rp75 billion at           • The Company bought 45 shares equivalent to Rp45 million
    PT Asuransi Simas Jiwa Syariah, Rp3 billion at PT Reasuransi         of PT Dana Pinjaman Inklusif from PT Arthamas Solusindo;
    Nusantara Makmur, and Rp55 million at PT Dana Pinjaman             • The Company bought 82.5 thousand Series A shares and
    Inklusif;                                                            1.43 billion Series B shares equivalent to Rp96.19 billion of
  • The Company increased its paid-up capital at PT Pasar Dana           PT Sinar Mitra Sepadan Finance from Orix Corporation Japan;
    Pinjaman by Rp2.5 billion, PT AB Sinar Mas Multifinance            • The Company made capital investment at the following
    by Rp220 billion and Rp30 billion, and at PT Sinar Mas               Subsidiaries:
    Multifinance by Rp150 billion;                                       - PT Dana Saham Bersama by Rp4.99 billion;
  • The Company bought 14,000 shares equivalent to Rp14 billion          - PT SGMW Multifinance Indonesia by Rp76 billion;
    of PT Asuransi Simas Net shares from PT Asuransi Sinar Mas,          - PT Jakarta Teknologi Utama by Rp100 billion;
    and increased its paid-up capital at PT Asuransi Simas Net by        - PT Shinta Utama by Rp247.52 billion;
    Rp7.5 billion; and                                                   - PT Rizki Lancar Sentosa by Rp278 billion; and
  • On 2 June 2017, the Company converted 129,856,000 Series           • The Company sold 393.75 million of its ordinary shares at
    B shares, thus the Company’s total Series A and Series B was         PT MSIG Life Insurance Indonesia Tbk (formerly PT Asuransi
    6,367,664,717 shares.                                                Jiwa Sinarmas MSIG Tbk).




2016 - 2017                                                          2018 - 2019

           Laporan Tahunan 2023
 62        2023 Annual Report
Page 65
                                                                             PT SINAR MAS MULTIARTHA TBK




  2020                                                               2023
  • Perseroan menjual seluruh saham PT Century Tokyo Leasing         • Perseroan menerbitkan PUB II Obligasi Sinar Mas
    sebanyak 45 ribu saham;                                            Multiartha Tahap IV dengan Tingkat Bunga Tetap
  • Perseroan menerbitkan PUB I Obligasi Sinar Mas Multiartha          sebesar Rp784,72 miliar;
    Tahap I dan II dengan Tingkat Bunga Tetap sebesar
                                                                     • Perseroan melakukan pembelian seluruh saham
    Rp875 miliar; serta
                                                                       PT Pasar Dana Pinjaman (Danamas);
  • Perseroan melakukan tambahan investasi/setoran modal
                                                                     • Perseroan menjual seluruh saham PT Bima Multi
    kepada PT Sinartama Gunita, PT Sinar Artha Trading, PT Peduli
    Sehat Gotong Royong, PT Sinarmas Hana Finance, dan                 Finance sebanyak 53.125.267 lembar saham;
    PT Digital Solusindo Nusantara.                                  • Perseroan mendirikan PT Bank Nano Syariah
  • The Company sold 45 thousand shares (all shares) of                bersama PT Bank Sinarmas Tbk dan PT Asuransi
    PT Century Tokyo Leasing;                                          Sinar Mas; dan
  • The Company issued Sinar Mas Multiartha PUB I Bond               • Perseroan membentuk Entitas Anak baru, yakni
    Phase I and II with a Fixed Interest Rate amounting                PT Kreasi Retail Nusantara.
    Rp875 billion; and                                               • The Company issued SPO II of Sinar Mas Multiartha
  • The Company increased its investment/paid-up capital to
                                                                       Bonds Phase IV with Fixed Interest Rate of
    PT Sinartama Gunita, PT Sinar Artha Trading, PT Peduli
                                                                       Rp784.72 billion;
    Sehat Gotong Royong, PT Sinarmas Hana Finance, and
                                                                     • The Company bought all shares of PT Pasar Dana
    PT Digital Solusindo Nusantara.
                                                                       Pinjaman (Danamas);
                                                                     • The Company sold all 53,125,267 shares of PT Bima
                                                                       Multi Finance;
                                                                     • The Company established PT Bank Nano Syariah
  2021                                                                 with PT Bank Sinarmas Tbk and PT Asuransi
  • Perseroan menerbitkan PUB II Obligasi Sinar Mas Multiartha         Sinar Mas; and
    Tahap I dengan Tingkat Bunga Tetap sebesar Rp705 miliar; dan     • The Company established new Subsidiary, namely
  • Perseroan membentuk Entitas Anak baru, yakni PT Sistem             PT Kreasi Retail Nusantara
    Loka Triprima (SLT) dan PT Zimba Onix Mustika (ZOM) melalui
    PT Shinta Utama, PT Data Opal Terpadu (DOT) melalui
    PT Arthamas Solusindo, serta Sinar Mas Life Insurance (SLI)
    melalui Sinar Mas Insurance dan PT Asuransi Simas Jiwa.
  • The Company issued Sinar Mas Multiartha PUB II Bond
    Phase I with a Fixed Interest Rate of Rp705 billion; and
  • The Company forms new Subsidiaries, namely PT Sistem Loka
    Triprima (SLT) and PT Zimba Onix Mustika (ZOM) through
    PT Shinta Utama, PT Data Opal Terpadu (DOT) through
    PT Arthamas Solusindo, and Sinar Mas Life Insurance (SLI)
    through Sinar Mas Insurance and PT Asuransi Simas Jiwa.




  2022
  • Perseroan menerbitkan PUB II Obligasi Sinar Mas Multiartha
    Tahap II dan Tahap III dengan Tingkat Bunga Tetap
    masing-masing sebesar Rp1,85 triliun, Rp1,66 triliun, dan
    Rp784,72 miliar; serta
  • Perseroan membentuk Entitas Anak baru, yakni PT Pasar
    Gadai Digital (PGD).
  • The Company issued SPO II of Sinar Mas Multiartha
    Bonds Phase II and Phase III with Fixed Interest Rate of
    Rp1.85 trillion and Rp1.66 trillion respectively; and
  • The Company forms new Subsidiary, namely PT Pasar
    Gadai Digital (PGD).




2020 - 2022                                                         2023

                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report       63
Page 66
03      PROFIL PERUSAHAAN
        Company Profile




Visi, Misi, dan Nilai Perusahaan
Vision, Mission, and Corporate Values




                     VISI / Vision
          “Mewujudkan SMMA sebagai
        penyedia jasa keuangan terpadu
      (one stop integrated financial services)
                yang terkemuka.”
                  “To bring SMMA into
            the leading one stop integrated
                   financial services.”




NILAI PERUSAHAAN / Corporate Values




        Integritas                     Sikap Positif      Komitmen
         Integrity                   Positive Attitude   Commitment




        Laporan Tahunan 2023
 64     2023 Annual Report
Page 67
                                                        PT SINAR MAS MULTIARTHA TBK




                                                                         MISI / Mission
            Melaksanakan prinsip bisnis yang saling menguntungkan dan saling mempercayai.
                         To carry out business principles of mutual benefit and mutual trust.

                     Memberikan pelayanan yang terbaik kepada klien, nasabah, dan investor.
                         To provide the best service to its clients, customers, and investors.

                           Meningkatkan kemampuan sumber daya manusia yang berkualitas.
                                     To improve the capability of qualified human resources.

                    Menyediakan sumber daya manusia yang siap pakai bagi Perusahaan Anak.
                                 To provide competent human resources for its Subsidiaries.

                         Menghasilkan pendapatan yang optimal bagi para Pemegang Saham.
                                           To generate optimum revenue for Shareholders.

            Meningkatkan penerapan prinsip-prinsip Good Corporate Governance dan Etika Bisnis.
            To improve the implementation of Good Corporate Governance principles and
                                                                            Business Ethics.




                                                                           Review Visi dan Misi
            Visi dan Misi Perseroan telah ditinjau oleh Dewan Komisaris dan Direksi. Berdasarkan hasil
                       tinjauan tersebut, Visi dan Misi Perseroan masih relevan dengan kondisi saat ini.

                                                                   Vision and Mission Review
            The Board of Commissioners and Board of Directors have reviewed the Company vision
            and mission. According to the review, the Company Vision and Mission are still relevant to
                                                                             the present condition.




                                                                         Peningkatan
Loyalitas                         Inovasi
                                                                     yang Berkelanjutan
 Loyalty                        Innovation
                                                                   Continuous Development




                                                                  Laporan Tahunan 2023
                                                                     2023 Annual Report         65
Page 68
03           PROFIL PERUSAHAAN
             Company Profile




Bidang Usaha
Line of Business

                           Berdasarkan Anggaran Dasar, bidang usaha Perseroan, meliputi:
                    The Company line of business as stated in the Articles of Association is as follows:

Bidang keuangan dan asuransi                                   Aktivitas perusahaan holding.
Finance and insurance sector                                   Holding company activities.
                                                               ·    Aktivitas kantor pusat; dan
Bidang aktivitas profesional ilmiah dan teknis                 ·    Aktivitas konsultan manajemen.
Science and technical professional activities sector           ·    Head office activities; and
                                                               ·    Management consultant activities.
                                                               ·    Perdagangan besar atas balas jasa (fee) atau kontrak; dan
Bidang perdagangan besar                                       ·    Perdagangan besar berbagai macam barang.
Wholesaler sector                                              ·    Wholesaler of fee or contract; and
                                                               ·    Wholesaler of various kind of goods.




                                                                                               Teknologi
     Asuransi             Pasar Modal                                Pembiayaan                Keuangan                Lainnya
                                                       Bank
    Insurance            Capital Market                              Multifinance              Financial                Others
                                                                                              Technology



  Asuransi Jiwa              Biro                                    Pembiayaan              Layanan Pinjam           Investasi
                                                       Bank
  Life Insurance       Administrasi Efek                               Finance                  Meminjam             Investment
                        Share Registrar                                                       Uang Berbasis
                                                                                                Teknologi
 Asuransi Umum                                  Perdagangan          Pembiayaan                 Informasi          Manajemen Dana
General Insurance          Sekuritas            Valuta Asing          Investasi                Peer to Peer       Fund Management
                           Securities          Money Changer         Investment                  Lending
                                                                      Financing
  Agen Asuransi                                                                                                     Perdagangan
 Insurance Agent         Manajemen                                                                                    dan Jasa
                            Aset                                     Pembiayaan                                     Trading and
                            Asset                                    Modal Kerja                                      Services
                         Management                                 Working Capital
                                                                       Finance
                                                                                                                     Balai Lelang
                         Perdagangan                                                                                Auction House
                           Komoditi                                     Pembiayaan
                                                                    Multiguna dan/atau
                          Commodity                                 Kegiatan Usaha Lain
                            Trading                                     berdasarkan                                   Properti
                                                                    Persetujuan Otoritas                              Property
                                                                       Jasa Keuangan
                                                                        Multi Finance
                                                                   and/or Other Business
                                                                          Activites
                                                                   with Financial Services                             Bengkel
                                                                    Authority Approval                                Workshop



                                                                     Sewa Operasi                                       Klinik
                                                                   dan/atau Kegiatan                                    Clinic
                                                                     Berbasis Fee
                                                                    Operating Lease
                                                                   and/or Fee-Based                                Modal Ventura
                                                                       Activities                                  Venture Capital




             Laporan Tahunan 2023
 66          2023 Annual Report
Page 69
                                                                                    PT SINAR MAS MULTIARTHA TBK




Wilayah Operasional
Operational Areas

                                             1




                                                                 2




                                                                                                3




Keterangan / Description:



        Jakarta                  1
                                     Tiongkok / China                        2
                                                                                 Hong Kong                      3
                                                                                                                    Timor Leste


Seluruh aktivitas bisnis Perseroan terpusat di Jakarta. Namun,       All of the Company’s business activities are centered in Jakarta.
Perseroan memiliki Entitas Anak yang berdomisili di Hongkong,        However, the Company has Subsidiaries domiciled in Hong Kong,
Timor Leste, dan Tiongkok.                                           Timor Leste, and China.




                                                                                              Laporan Tahunan 2023
                                                                                                 2023 Annual Report            67
Page 70
03          PROFIL PERUSAHAAN
            Company Profile




Struktur Organisasi
Organization Structure

                                                  Rapat Umum Pemegang Saham
                                                   General Meeting Shareholder




                                                        Dewan Komisaris
                                                     Board of Commissioners

                                                         Fuganto Widjaja
                                            (Komisaris Utama / President Commissioner)
                                                          Howen Widjaja
                                                     (Komisaris / Commissioner)
                                                           Dani Lihardja
                                                     (Komisaris / Commissioner)
                                                           Dani Lihardja
                                        (Komisaris Independen / Independent Commissioner)
                                                         Fuganto Widjaja
                                        (Komisaris Independen / Independent Commissioner)




       Komite Nominasi dan Remunerasi                                                            Komite Audit
    Nomination and Remuneration Committee                                                       Audit Committee

                Robinson Simbolon                                                              Robinson Simbolon
                 (Ketua / Chairman)                                                             (Ketua / Chairman)
                   Indra Widjaja                                                                 Halim Alamsyah
                (Anggota / Member)                                                             (Anggota / Member)
                 Herry Hermana S                                                                    Nurhaida
                (Anggota / Member)                                                             (Anggota / Member)




                                                             Direksi
                                                        Board of Directors

                                                       Burhanuddin Abdullah
                                                (Direktur Utama / President Director)
                                                       Agus Leman Gunawan
                                                         (Direktur / Director)
                                                                 Felix
                                                         (Direktur / Director)
                                                                 Ferita
                                                         (Direktur / Director)
                                                              Lili Wijata
                                                         (Direktur / Director)




              Sekretaris Perusahaan                                                              Audit Internal
               Corporate Secretary                                                               Internal Audit

                       Felix                                                                     Azaria Dian M




    Biro Direksi
                               General Affair
 Board of Directors’                                      Corporate Legal               Accounting                   Finance
                                  & HRD
      Bureau




            Laporan Tahunan 2023
 68         2023 Annual Report
Page 71
PT SINAR MAS MULTIARTHA TBK




       Laporan Tahunan 2023
          2023 Annual Report   69
Page 72
03                  PROFIL PERUSAHAAN
                    Company Profile




Struktur Korporasi
Corporate Structure




                          Insurance                         Multifinance                     Bank



                                                       PT Sinar Mas Multifinance      PT Bank Sinarmas Tbk
             PT MSIG Life Insurance Indonesia Tbk
                                                               (99.99%)                     (59.99%)
                      (dahulu / formerly
              PT Asuransi Jiwa Sinarmas MSIG Tbk)
                                                     PT AB Sinar Mas Multifinance    PT Simas Money Changer
                            (12.50%)                           (99.99%)                     (99.90%)


                    PT Asuransi Simas Jiwa             PT Sinarmas Hana Finance      PT Bank Nano Syariah*)
                            (99.99%)                           (15.00%)                     (51.00%)


                   PT Sinar Artha Konsulindo              PT Oto Multiartha
                            (99.92%)                           (15.00%)


                  PT Asuransi Simas Insurtech           PT Summit Oto Finance
                            (75.38%)                           (15.00%)


                   PT KB Insurance Indonesia        PT SGMW Multifinance Indonesia
                            (30.00%)                           (19.00%)


                     PT Asuransi Sinar Mas          PT Sinar Mitra Sepadan Finance
                            (99.99%)                           (15.00%)


                      Sinar Mas Insurance
                            (91.42%)


                     PT Asuransi Sumit Oto
                            (48.00%)


               PT Reasuransi Nusantara Makmur
                            (99.00%)


                 PT Sinarmas Penjamin Kredit
                            (99,99%)


                    Sinar Mas Life Insurance
                            (90.00%)



*)
     Mulai beroperasi 1 Januari 2024.
     Start operating on 1 January 2024.




                    Laporan Tahunan 2023
       70           2023 Annual Report
Page 73
                                                                  PT SINAR MAS MULTIARTHA TBK




         Securities             Fintech dan Digital Finance                           Others



    PT Sinarmas Sekuritas      PT Pasar Dana Pinjaman (Danamas)                  PT Shinta Utama
          (99.99%)                          (99.99%)                                 (99.95%)


PT Sinarmas Asset Management       PT Dana Pinjaman Inklusif                  PT Rizki Lancar Sentosa
          (99.98%)                          (50.00%)                                 (99.99%)


     PT Sinarmas Futures           PT Dana Saham Bersama                      PT Arthamas Solusindo
          (75.00%)                          (99.99%)                                 (99.99%)


     PT Sinartama Gunita           PT Orientee Mas Sejahtera                  PT Wapindo Jasaartha
          (99.99%)                          (15.00%)                                 (99.96%)


                                 PT Digital Solusindo Nusantara               PT Wapindo Jasa Farma
                                            (99.99%)                                 (100.00%)


                                    PT Sistem Loka Triprima                  PT Arthamas Informatika
                                            (99.92%)                                 (99.92%)


                                     PT Data Opal Terpadu                    PT Balai Lelang Sinarmas
                                            (99.92%)                                 (99.99%)


                                                                             PT Sinar Artha Inforindo
                                                                                     (99.92%)


                                                                               PT Artha Bina Usaha
                                                                                     (92.00%)


                                                                              PT Sinar Artha Trading
                                                                                     (99.99%)


                                                                             PT Sinar Artha Solusindo
                                                                                     (99.92%)


                                                                          PT Peduli Sehat Gotong Royong
                                                                                     (25.50%)


                                                                               PT Sinarmas Ventura
                                                                                     (99.99%)


                                                                          Global Asian Investment Limited
                                                                                     (100.00%)


                                                                            PT Jakarta Teknologi Utama
                                                                                     (99.99%)


                                                                            PT Autopro Utama Perkasa
                                                                                     (99.88%)


                                                                               PT Pasar Gadai Digital
                                                                                     (99.97%)


                                                                              PT Zimba Onix Mustika
                                                                                     (99.92%)




                                                                         Laporan Tahunan 2023
                                                                            2023 Annual Report              71
Page 74
03           PROFIL PERUSAHAAN
             Company Profile




Informasi Entitas Anak dan Entitas Asosiasi
Information on Subsidiaries and Associates

                                                                                              Kepemilikan
                                                                           Jumlah Aset
                                                                                                Saham         Status Operasi
          Perusahaan               Bidang Usaha           Domisili       (jutaan Rupiah)*)
                                                                                                 Share           Status of
           Company                Line of Business        Domicile          Total Assets
                                                                                               Ownership        Operations
                                                                         (million Rupiah)*)
                                                                                                  (%)

                                                          Entitas Anak
                                                          Subsidiaries
                                        Asuransi                                                            Beroperasi sejak 1995
PT Asuransi Simas Jiwa                                      Jakarta         23,421,138           99.99
                                       Insurance                                                            Operating since 1995
                                        Asuransi                                                            Beroperasi sejak 2000
PT Sinar Artha Konsulindo                                   Jakarta              1,521           99.92
                                       Insurance                                                            Operating since 2000
                                        Asuransi                                                            Beroperasi sejak 2014
PT Asuransi Simas Insurtech                                 Jakarta           1,173,348          75,38
                                       Insurance                                                            Operating since 2014
                                        Asuransi                                                            Beroperasi sejak 1986
PT Asuransi Sinar Mas                                       Jakarta         17,461,571           99.99
                                       Insurance                                                            Operating since 1986
                                                            Republik
                                                          Demokrasi
                                        Asuransi          Timor Leste                                       Beroperasi sejak 2011
Sinar Mas Insurance                                                            224,295           91.42
                                       Insurance          Democratic                                        Operating since 2011
                                                          Republic of
                                                          Timor Leste
                                        Asuransi                                                            Beroperasi sejak 2017
PT Reasuransi Nusantara Makmur                              Jakarta           3,146,407          99.00
                                       Insurance                                                            Operating since 2017
                                                                                                            Beroperasi sejak 1996
PT Sinar Mas Multifinance            Multifinance           Jakarta           5,420,108          99.99
                                                                                                            Operating since 1996
                                                                                                            Beroperasi sejak 1996
PT AB Sinar Mas Multifinance         Multifinance           Jakarta           1,491,451          99.99
                                                                                                            Operating since 1996
                                                                                                            Beroperasi sejak 1990
PT Bank Sinarmas Tbk                     Bank               Jakarta         52,193,606           59.99
                                                                                                            Operating since 1990
                                    Bank (Pedagang
                                                                                                            Beroperasi sejak 2007
PT Simas Money Changer               Valuta Asing)          Jakarta              6,258           99.90
                                                                                                            Operating since 2007
                                    Money Changer
                                       Sekuritas                                                            Beroperasi sejak 1992
PT Sinarmas Sekuritas                                       Jakarta           1,752,975          99.99
                                       Securities                                                           Operating since 1992
                                   Aset Manajemen                                                           Beroperasi sejak 2012
PT Sinarmas Asset Management                                Jakarta            748,073           99.98
                                  Management Asset                                                          Operating since 2012
                                    Perdagangan
                                                                                                            Beroperasi sejak 2004
PT Sinarmas Futures                   Komoditi              Jakarta             33,386           75,38
                                                                                                            Operating since 2004
                                  Commodity Trading
                                 Biro Administrasi Efek
                                                                                                            Beroperasi sejak 1992
PT Sinartama Gunita                    Securities           Jakarta            347,631           99.99
                                                                                                            Operating since 1992
                                 Administration Bureau
PT Pasar Dana Pinjaman                                                                                      Beroperasi sejak 2017
                                        Fintech             Jakarta            623,201           99.99
(Danamas)                                                                                                   Operating since 2017
                                                                                                            Beroperasi sejak 2018
PT Dana Pinjaman Inklusif               Fintech             Jakarta             10,112           50.00
                                                                                                            Operating since 2018
                                       Securities                                                           Beroperasi sejak 2021
PT Dana Saham Bersama                                       Jakarta              2,750           99.99
                                     Crowdfunding                                                           Operating since 2021
                                 Perdagangan Umum                                                           Beroperasi sejak 2010
PT Shinta Utama                                             Jakarta           3,165,063          99.95
                                   General Trading                                                          Operating since 2020
                                       Properti                                                             Beroperasi sejak 2011
PT Rizki Lancar Sentosa                                     Jakarta            963,068           99.99
                                       Property                                                             Operating since 2011




             Laporan Tahunan 2023
 72          2023 Annual Report
Page 75
                                                                                PT SINAR MAS MULTIARTHA TBK




                                                                                           Kepemilikan
                                                                        Jumlah Aset
                                                                                             Saham         Status Operasi
          Perusahaan                Bidang Usaha          Domisili    (jutaan Rupiah)*)
                                                                                              Share           Status of
           Company                 Line of Business       Domicile       Total Assets
                                                                                            Ownership        Operations
                                                                      (million Rupiah)*)
                                                                                               (%)

                                   Teknologi Informasi
                                                                                                         Beroperasi sejak 2014
PT Arthamas Solusindo                 Information          Jakarta         1,835,175           99.99
                                                                                                         Operating since 2014
                                       Technology
                                  Perdagangan dan Jasa                                                   Beroperasi sejak 2000
PT Wapindo Jasaartha                                       Jakarta           11,322            99.96
                                   Trading and Services                                                  Operating since 2000
                                   Teknologi Informasi
                                                                                                           Belum beroperasi
PT Arthamas Informatika               Information          Jakarta              840            99.92
                                                                                                          Not yet in operation
                                       Technology
                                      Balai Lelang                                                       Beroperasi sejak 2021
PT Balai Lelang Sinarmas                                   Jakarta           14,197            99.99
                                      Auction Hall                                                       Operating since 2021
                                   Teknologi Informasi
                                                                                                           Belum beroperasi
PT Sinar Artha Inforindo              Information          Jakarta              215            99.92
                                                                                                          Not yet in operation
                                       Technology
                                  Perdagangan dan Jasa                                                     Belum beroperasi
PT Artha Bina Usaha                                        Jakarta              145            92.00
                                   Trading and Services                                                   Not yet in operation
                                  Perdagangan Umum                                                         Belum beroperasi
PT Sinar Artha Trading                                     Jakarta            1,102            99.99
                                  Trading and Services                                                    Not yet in operation
                                  Perdagangan dan Jasa                                                     Belum beroperasi
PT Sinar Artha Solusindo                                   Jakarta              794            99.92
                                   Trading and Services                                                   Not yet in operation
                                     Modal Ventura                                                       Beroperasi sejak 2019
PT Sinar Mas Ventura                                       Jakarta           41,517            99.99
                                     Venture Capital                                                     Operating since 2019
                                        Investasi                                                        Beroperasi sejak 2012
Global Asian Investment Limited                           Hong Kong           1,113           100.00
                                       Investment                                                        Operating since 2012
                                        Otomotif                                                         Beroperasi sejak 1999
PT Jakarta Teknologi Utama                                 Jakarta          628,133            99.99
                                       Automotive                                                        Operating since 1999
                                        Otomotif                                                         Beroperasi sejak 2006
PT Autopro Utama Perkasa                                   Jakarta           60,894            99.98
                                       Automotive                                                        Operating since 2006
                                                                                                           Belum beroperasi
PT Digital Solusindo Nusantara       Digital Finance       Jakarta            2,501            99.99
                                                                                                          Not yet in operation
                                  Perdagangan dan Jasa                                                   Beroperasi sejak 2000
PT Wapindo Jasa Artha                                      Jakarta           11,322            99.96
                                   Trading and Services                                                  Operating since 2000
                                      Penjaminan                                                         Beroperasi sejak 2019
PT Sinarmas Penjaminan Kredit                              Jakarta         4,111,067           99.99
                                       Guarantee                                                         Operating since 2019
                                  Perdagangan Umum                                                       Beroperasi sejak 2017
PT Techno Mandiri Utama                                    Jakarta            1,101           100.00
                                    General Trading                                                      Operating since 2017
                                  Perdagangan Umum                                                       Beroperasi sejak 2017
PT Techno Karya Utama                                      Jakarta            3,747           100.00
                                    General Trading                                                      Operating since 2017
                                  Perdagangan Umum                                                       Beroperasi sejak 2017
PT Toko Onderdil                                           Jakarta            9,089            77.20
                                    General Trading                                                      Operating since 2017
                                  Perdagangan Umum                                                       Beroperasi sejak 2022
PT Berkat Surya Mentari                                    Jakarta              842           100.00
                                    General Trading                                                      Operating since 2022
                                        Properti                                                         Beroperasi sejak 2019
PT Kebayoran Parama Propertindo                            Jakarta          360,835           100.00
                                        Property                                                         Operating since 2019
                                      Perhutanan                                                         Beroperasi sejak 2019
PT Citra Grahareksa Abadi                                  Jakarta           36,230            75.00
                                       Forestry                                                          Operating since 2019




                                                                                           Laporan Tahunan 2023
                                                                                              2023 Annual Report         73
Page 76
03                  PROFIL PERUSAHAAN
                    Company Profile




                                                                                                                  Kepemilikan
                                                                                              Jumlah Aset
                                                                                                                    Saham         Status Operasi
                Perusahaan                        Bidang Usaha               Domisili       (jutaan Rupiah)*)
                                                                                                                     Share           Status of
                 Company                         Line of Business            Domicile          Total Assets
                                                                                                                   Ownership        Operations
                                                                                            (million Rupiah)*)
                                                                                                                      (%)

                                                                                                     842,306                     Belum beroperasi
     PT Data Opal Terpadu                               Fintech                Jakarta                               99.92
                                                                                                                                Not yet in operation
                                                Properti, Real Estate,
                                                    dan Lain-lain                                    858,912                     Belum beroperasi
     PT Zimba Onix Mustika                                                     Jakarta                               99.92
                                                Property, Real Estate,                                                          Not yet in operation
                                                     and Others

                                                                                                     709,049                     Belum beroperasi
     PT Sistem Loka Triprima                        Digital Finance            Jakarta                               99.92
                                                                                                                                Not yet in operation
                                                                              Republik
                                                        Asuransi                                      62,792                    Beroperasi sejak 2021
     Sinar Mas Life Insurance                                               Demokrasi                                90.00
                                                       Insurance                                                                Operating since 2021
                                                                            Timor Leste
                                                      Pergadaian                                       2,367                    Beroperasi sejak 2022
     PT Pasar Gadai Digital                                                    Jakarta                               99.97
                                                      Pawnshop                                                                  Operating since 2022
                                                Perdagangan Umum                                         364                     Belum beroperasi
     PT Kreasi Retail Nusantara                                                Jakarta                               99.60
                                                  General Trading                                                               Not yet in operation
                                                                          Entitas Asosiasi
                                                                            Associates
                                                      Portal Web                                                                Beroperasi sejak 2018
     PT Peduli Sehat Gotong Royong                                             Jakarta                 5,751         25.50
                                                      Web Portal                                                                Operating since 2018
                                                                                                                                Beroperasi sejak 2018
     PT SGMW Multifinance Indonesia                  Multifinance              Jakarta             4,088,868         19.00
                                                                                                                                Operating since 2018
                                                                                                                                Beroperasi sejak 2015
     PT Sinarmas Hana Finance                        Multifinance              Jakarta             1,529,484         15.00
                                                                                                                                Operating since 2015
                                                                                                                                Beroperasi sejak 1994
     PT Oto Multiartha                               Multifinance              Jakarta           14,911,748          15.00
                                                                                                                                Operating since 1994
                                                                                                                                Beroperasi sejak 1990
     PT Summit Oto Finance                           Multifinance              Jakarta           13,051,585          15.00
                                                                                                                                Operating since 1990
     PT MSIG Life Insurance
     Indonesia Tbk
                                                        Asuransi                                                                Beroperasi sejak 1984
     (dahulu / formerly                                                        Jakarta           14,953,956          12.50
                                                       Insurance                                                                Operating since 1984
     PT Asuransi Jiwa Sinarmas
     MSIG Tbk)
                                                        Asuransi                                                                Beroperasi sejak 1997
     PT KB Insurance Indonesia                                                 Jakarta               649,494         30.00
                                                       Insurance                                                                Operating since 1997
                                                        Asuransi                                                                Beroperasi sejak 2011
     PT Asuransi Sumit Oto                                                     Jakarta               501,641         48.00
                                                       Insurance                                                                Operating since 2011
                                                                                                                                Beroperasi sejak 2001
     PT Sinar Mitra Sepadan Finance                  Multifinance              Jakarta             3,887,690         15.00
                                                                                                                                Operating since 2001
*)
     Jumlah Aset (Sebelum Eliminasi) berdasarkan Catatan 1 Laporan Keuangan Konsolidasian Perseroan.
     The Total Assets (Before Eliminations) based on Note 1 of the Company's Consolidated Financial Statements.




                    Laporan Tahunan 2023
      74            2023 Annual Report
Page 77
                                                            PT SINAR MAS MULTIARTHA TBK




PT Bank Sinarmas Tbk




Kantor Pusat                  Profil Perusahaan
Head Office                   Company Profile

                              PT Bank Sinarmas Tbk (Bank Sinarmas) dibentuk melalui proses akuisisi
 Sinar Mas Land Plaza         PT Bank Shinta Indonesia, bank swasta nasional yang didirikan
 Tower I Lt. 1 & 2            18 Agustus 1989. Proses tersebut dilakukan tahun 2005, kemudian
 Jl. MH Thamrin No. 51        menetapkan PT Sinar Mas Multiartha (tergabung dalam Grup Sinar Mas)
 Jakarta 10350                menjadi Pemegang Saham Utama dan Pengendali.

   (021) 3199 0101
                              Setelah PT Sinar Mas Multiartha menjadi Pemegang Saham Utama
   (021) 3199 0401
                              dan Pengendali, Bank Shinta melakukan perubahan nama menjadi
   150 0153, (021) 501 8888   PT Bank Sinarmas, efektif sejak Desember 2006. Pergantian nama tersebut
   0882 2150 0153             berdampak pada peningkatan performa Bank karena diiringi dengan
   corporate.secretary@       penambahan fasilitas pelayanan nasabah secara bertahap.
   banksinarmas.com
   care@banksinarmas.com      PT Bank Sinarmas Tbk (Bank Sinarmas) is established by acquiring
   www.banksinarmas.com       PT Bank Shinta Indonesia, a local commercial bank that was established on
                              18 August 1989. Its process was held in 2005, followed by deciding
 Media Sosial                 PT Sinar Mas Multiartha (part of Sinar Mas Group) as its Main and Controlling
 Social Media                 Shareholder.

   Bank Sinarmas
                              Following the establishment of PT Sinar Mas Multiartha as Main and
   @BankSinarmas
                              Controlling Shareholder, Bank Shinta changed its name to PT Bank Sinarmas,
   @BankSinarmas
                              effective since December 2006. The change of name has improved the
   BankSinarmas
                              Bank’s performance which is reflected by a gradual increase in the customer
   BankSinarmas
                              service facility.




                                                                     Laporan Tahunan 2023
                                                                        2023 Annual Report          75
Page 78
03           PROFIL PERUSAHAAN
             Company Profile




Dampak positif lainnya terjadi tahun 2009 ketika Bank        Other positive impact occurred on 2009 when the
memperoleh izin untuk mendirikan Unit Usaha Syariah dari     Bank obtained the license to establish Sharia Business
Bank Indonesia dan dapat melakukan kegiatan usaha Wali       Unit and to do business activities as Trustee following
Amanat, setelah memperoleh pengesahan dari Bapepam           the approval from Capital Market Supervisory Agency
(sekarang Otoritas Jasa Keuangan). Selain itu, pada          (presently Financial Services Authorities). In addition,
13 Desember 2010, dengan dukungan dari PT Sinar Mas          on 13 December 2010, with the support of PT Sinar
Multiartha, Bank Sinarmas meningkatkan permodalan dalam      Mas Multiartha, Bank Sinarmas increased its capital to
rangka mendukung kegiatan usaha dengan melakukan             support its business activities by launching an Initial Public
Penawaran Saham Umum Perdana (Initial Public Offering/       Offering at Indonesia Stock Exchange.
IPO) di Bursa Efek Indonesia.


Bank Sinarmas senantiasa menjalankan kegiatan usaha          Bank Sinarmas consistently carry out its business activities
sesuai Anggaran Dasar dan ketentuan perundang-undangan       in line with the Articles of Associations and the prevailing
yang berlaku serta berkomitmen untuk memberikan              laws and regulations, and is committed to provide the
pelayanan yang terbaik bagi nasabah. Hingga akhir tahun      best services to its customers. Until the end of 2023,
2023, kegiatan usaha Bank Sinarmas didukung oleh             Bank Sinarmas’ business activities are backed up by
7.218 karyawan yang tersebar di 68 kantor cabang, 191        7,218 employees spread across 68 branch offices,
kantor cabang pembantu, 64 kantor fungsional operasional,    191 sub-branch offices, 64 operational functional offices,
11 kantor fungsional UMK, 31 kantor cabang syariah,          11 SME functional offices, 31 sharia branch offices,
10 kantor cabang pembantu syariah.                           10 sharia sub-branch offices.



Produk dan Layanan                                           Products and Services


                                                  Personal Banking

 Simpanan                                                   Penjaminan
 Deposits                                                   Guarantee
 • Deposito                                                 • Bank Garansi
   Time Deposit                                               Bank Guarantee
 • Deposito On Call                                         • Kontra Bank Garansi
   On Call Deposit                                            Contra Bank Guarantee
 • Tabungan Simas Diamond
   Simas Diamond Savings                                    Bancassurance
 • Tabungan Simas Bisnis                                    • Simas Prima
   Simas Bisnis Savings                                     • Simas KID
 • Tabungan Simas Gold                                      • Smile Hospital Plus
   Simas Gold Savings                                       • Dana Sejahtera
 • Tabungan Simas Payroll                                   • AsuransiKu
   Simas Payroll Savings                                    • Simas Income Protection
 • Tabungan Co-branding                                     • Sinarmas Maxi Life
   Co-branding Savings                                      • Smile Medical
 • Simas Tabungan Rencana                                   • Sinarmas Optima Plus
   Tabungan Rencana Savings                                 • Sinarmas Pension Plan
 • Tabunganku                                               • Smile Flexi Link
 • Tabungan Simpanan Pelajar (SIMPEL)                       • Dana Kompensasi Pascakerja (DPK) DPLK Simas Jiwa / DPLK Simas
   Simpanan Pelajar (SIMPEL) Savings                          Jiwa Post-Employment Compensation Fund (DPK)
 • Simac Basic Saving Account (BSA)                         • Program Pensiun Iuran Pasti (PPIP) DPLK Simas Jiwa / DPLK Simas
 • Simas Valas                                                Jiwa Defined Contribution Pension Plan Program (PPIP)
 • Tabungan Rekening Dana P2P
   Rekening Dana P2P Savings
 • Tabungan Simas Investor
   Simas Investor Savings
 • Tabungan Simas Digi
   Simas Digi Savings
 • Tabungan Rekening Dana Nasabah
   Rekening Dana Nasabah Savings
 • Giro Sinarmas




             Laporan Tahunan 2023
  76         2023 Annual Report
Page 79
                                                                             PT SINAR MAS MULTIARTHA TBK




                                                    Personal Banking

Reksadana / Mutual Funds                                     Kartu Kredit
• Danamas Rupiah Plus                                        Credit Card
• Danamas Dollar                                             • Kartu Kredit Korporat
• Danamas Pasti                                                Corporate Credit Card
• Danamas Stabil                                             • Kartu Kredit Personal
• Simas Satu Prima                                             Personal Credit Card
• Simas Syariah Berkembang
• Simas Satu                                                 Layanan Investasi Reksadana
• Simas Saham Unggulan                                       Mutual Funds Investment Service
• Simas Danamas Saham                                        Simas Investment Plan
• Simas Saham Maksima
• Reksa Dana Star Stable Income Fund
• Reksa Dana Simas Pendapatan Optima
• Reksa Dana Terproteksi Star Protected XVIII


                                                    Business Banking

Pinjaman                                                     Ekspor Impor
Loan                                                         Export Import
• Kredit Tanpa Agunan                                        • Penagihan Dokumen Impor Nasabah
  Unsecured Credit                                             Customer Import Document Collection
• Kredit Pemilikan Mobil                                     • Penerbitan LC SKBDN Impor
  Car Ownership Credit                                         Issuance of Import LC SKBDN
• Kredit Multiguna                                           • Penerbitan LC SKBDN
  Multipurpose Credit                                          Issuance of LC SKBDN
• Kredit Modal Kerja                                         • Advice LC SKBDN
  Working Capital Credit                                     • Penagihan Dokumen Ekspor Nasabah
• Kredit Investasi                                             Customer Export Document Collection
  Investment Credit                                          • Diskonto Dokumen LC SKBDN (Berjangka)
• Kredit Back-to-Back                                          LC SKBDN (Term) Document Discount
  Back-to-Back Credit                                        • Negosiasi Dokumen LC SKBDN
• Supply Chain Financing                                       LC SKBDN Document Negotiation
• Kredit Mikro KUK
  KUK Micro Credit                                           Treasury
• Kredit Usaha Rakyat                                        • Telegraphic Transfer (TT)
  People’s Business Credit                                   • Bank Notes (BN)
• KMU Petani Sawit                                           • FX Hedging (Spot/Forward/Swap)
  Multipurpose Credit for Palm Oil Farmers                   • Deposito On Call (DOC)
• Kredit Simas Agri                                          • ODA for G7
  Simas Agri Credit

                                                 Layanan Bank Sinarmas
                                                Services of Bank Sinarmas

Layanan Digital                                              Lain-Lain
Digital Services                                             Others
• Internet Banking                                           • Safe Deposit Box
• SimobiPlus Mobile Banking                                  • Travelers Cheque
• Debit Card                                                 • Simas Holiday
• Credit Card                                                • Payroll
• Automatic Teller Machine (ATM)                             • Bill Payment
• Phone Banking                                              • Giro Biller
• 24 Hours Customer Care
• Cardless Withdrawal
• Chat Box




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report   77
Page 80
03          PROFIL PERUSAHAAN
            Company Profile




                                                    Perbankan Syariah
                                                      Sharia Banking

 Simpanan / Deposits                                           Pembiayaan / Financing
 • Deposito Berjangka iB (Mudharabah Muthlaqah)                • Pembiayaan Modal Kerja iB (Mudharabah, Musyarakah, dan
 • Deposito On Call iB (Mudharabah Muthlaqah)                    Murabahah) / iB Working Capital Credit Financing (Mudharabah,
 • Deposito DHE SDA iB - Mudharabah                              Musyarakah, and Murabahah)
 • Tabungan Simas Diamond iB (Mudharabah Muthlaqah)            • Pembiayaan Investasi iB (Murabahah dan Ijara Muntahiya
 • Tabungan Simas Bisnis iB (Mudharabah Muthlaqah dan / and      Bittamlik - IMBT) / iB Investment Financing (Murabahah and Ijara
   Wadiah)                                                       Muntahiya Bittamlik - IMBT)
 • Tabungan Simas iB (Mudharabah Muthlaqah dan / and Wadiah)   • Pembiayaan Kredit Usaha Rakyat (KUR) / People’s Business Credit
 • Tabungan Simas Haji iB (Mudharabah Muthlaqah)                 (KUR) Financing
 • Tabungan Simpanan Emas iB (Mudharabah Muthlaqah)            • Pembiayaan Mikro Kredit Usaha Kecil (KUK) / Microfinance Small
 • Tabungan Rencana Haji dan Umrah iB (Mudharabah Muthlaqah)     Business Credit (KUK)
 • Rekening Tabungan Jemaah Haji (Wadiah)                      • Pembiayaan dengan Agunan Tunai / Cash Collateral Financing
 • Tabungan Simas Saving Plan iB (Mudharabah Muthlaqah)        • Pembiayaan Syariah / Sharia Financing
 • Tabungan Payroll iB (Mudharabah Muthlaqah)                  • Simas Umroh iB
 • TabunganKu iB (Wadiah)
 • Tabungan Simpanan Pelajar iB (Wadiah)                       Bancassurance
 • Tabungan Simas Pintar iB (Wadiah)                           • Power Save Syariah
 • Tabungan Simas Multifinance iB (Mudharabah Muthlaqah)       • Simas Kid Syariah
 • Tabungan Penampungan Simas Umrah iB-Mudarabah               • Personal Accident Sinarmas Life Syariah
 • Tabungan Digi iB - Mudharabah                               • Smile Medical Syariah
 • Tabungan Valas iB - Mudharabah, Wadiah
 • Giro Simas iB (Mudharabah Muthlaqah dan Wadiah)
 • Giro Valas iB - Mudharabah, Wadiah
 • Giro Governance - Mudharabah, Wadiah
 • Giro DHE SDA iB - Mudharabah




Pengurus                                                        Management

Dewan Komisaris                                                 Board of Commissioners
Komisaris Utama             : Tjendrawati Widjaja               President Commissioner   : Tjendrawati Widjaja
Komisaris Independen        : Sammy Kristamuljana               Independent Commissioner : Sammy Kristamuljana
Komisaris Independen        : Rusmin                            Independent Commissioner : Rusmin



Direksi                                                         Board of Directors
Periode 2023 susunan Direksi BSIM adalah:                       In 2023, the composition of the Board of Directors of BSIM
                                                                was as follows:
Direktur Utama    : Frenky Tirtowijoyo                          President Director: Frenky Tirtowijoyo
Direktur          : Halim                                       Director            : Halim
Direktur          : Hanafi Himawan                              Director            : Hanafi Himawan
Direktur          : Soejanto Soetjijo                           Director            : Soejanto Soetjijo
Direktur          : Miko Andidjaja                              Director            : Miko Andidjaja
Direktur          : Uzan Tedjamulia                             Director            : Uzan Tedjamulia
Direktur          : Ekajaya Ongny Putra                         Director            : Ekajaya Ongny Putra
Direktur          : Enny kamal                                  Director            : Enny kamal
Direktur          : Sendy                                       Director            : Sendy


Pada tanggal 1 Januari 2024, komposisi anggota Direksi          On 1 January 2024, there was a change in the composition of
Bank Sinarmas mengalami perubahan sebagai hasil dari            the Board of Directors of Bank Sinarmas due to the effective
efektifnya pemisahan Unit Usaha Syariah. Dengan demikian,       separation of the Sharia Business Unit. Therefore, the
komposisi anggota Direksi Bank pada saat Laporan Tahunan        composition of the Board of Directors of the Bank at the time
dan Keberlanjutan ini diterbitkan yakni:                        this Annual and Sustainability Report was published is as follows:
Direktur Utama     : Frenky Tirtowijoyo                         President Director : Frenky Tirtowijoyo
Direktur           : Miko Andidjaja                             Director            : Miko Andidjaja
Direktur           : Ekajaya Ongny Putra                        Director            : Ekajaya Ongny Putra
Direktur           : Enny Kamal                                 Director            : Enny kamal
Direktur          : Sendy                                       Director             : Sendy




            Laporan Tahunan 2023
  78        2023 Annual Report
Page 81
                                                                                     PT SINAR MAS MULTIARTHA TBK




Kinerja Keuangan                                                  Financial Performance
                                                        (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                     Uraian                2023            2022              2021                             Description

Posisi Keuangan                                                                                                          Financial Positions
Aset                                      52,634,996     47,350,601         52,671,981                                                   Assets
Liabilitas                                37,788,908     33,547,181         38,799,669                                                Liabilities
Ekuitas                                    7,826,768       7,285,008         7,359,416                                                    Equity
Laba Rugi dan Penghasilan Komprehensif                                                           Profit Loss and Other Comprehensive
Lain                                                                                                                         Income
Pendapatan Operasional                     3,549,384       3,292,830         3,340,796                                   Operational Income
Beban Operasional                          3,475,806       3,015,619         3,181,278                                 Operational Expenses
Laba Sebelum Pajak                            73,578         277,211           159,518                                       Profit Before Tax
Laba Bersih                                   75,796         221,160           127,748                                                Net Profit
Laba Bersih per Saham Dasar                                                                                           Net Earnings per Share
                                                 3.84           11.22               6,75
(dalam Rupiah penuh)                                                                                                          (in full Rupiah)
Rasio Keuangan (%)                                                                                                      Financial Ratios (%)
Permodalan                                                                                                                              Capital
Kewajiban Penyediaan Modal Minimum             25.34            29.49             29.12              Mandatory Minimum Capital Reserve
Aset Produktif                                                                                                            Productive Assets
Aset Produktif Bermasalah                        1.66            3.14               1.80                Non-Performing Productive Assets
Kredit Bermasalah - Gross                        1.53            7.99               4.64                      Non-Performing Loan - Gross
Kredit Bermasalah - Net                          0.35            2.49               1.18                         Non-Performing Loan - Net
Profitabilitas                                                                                                                    Profitability
Tingkat Pengembalian Aset                        0.15            0.54               0.34                                     Return on Assets
Tingkat Pengembalian Ekuitas                     1.07            3.27               2.02                                   Return on Equities
Biaya Operasional terhadap
                                              103.36            93.27             97.12         Operating Expenses to Operating Income
Pendapatan Operasional
Likuiditas                                                                                                                            Liquidity
Kredit terhadap Dana Masyarakat                40.94            41.07             41.22                                       Loan to Deposit
Kepatuhan                                                                                                                         Compliance
Pelanggaran BMPK                         Nihil / None   Nihil / None      Nihil / None                         Legal Lending Limit Violation
Pelampauan BMPK                          Nihil / None   Nihil / None      Nihil / None                       Exceeding Legal Lending Limit
Giro Wajib Minimum (GWM) - Rupiah              15.22            10.01               5.30     Minimum Statutory Reserve (GWM) - Rupiah
                                                                                                      Minimum Statutory Reserve (GWM) -
Giro Wajib Minimum (GWM) - Valas                 4.09            3.95               4.01
                                                                                                                       Foreign Currency
Posisi Devisa Neto                               6.57            0.81               1.11                                   Net Open Position




                                                                                                  Laporan Tahunan 2023
                                                                                                     2023 Annual Report                   79
Page 82
03          PROFIL PERUSAHAAN
            Company Profile




Peristiwa Penting                                                Significant Events




 27 JUNI / June 2023                                              1 AGUSTUS / August 2023

      Penyelenggaraan Rapat Umum Pemegang Saham (RUPS)               Peresmian    Co-Working    Bank   Sinarmas    Lavenue,
      Tahunan.                                                       Jakarta.
      Implementation of Annual General Meeting of Shareholders       Inauguration of Co-Working Bank Sinarmas Lavenue,
      (GMS).                                                         Jakarta.




                                                                  8 AGUSTUS / August 2023

                                                                     Kerja sama pembukaan rekening Tabungan Simpel antara
                                                                     Bank Sinarmas dengan Sekolah Pelita Fajar Bandung
                                                                     dalam rangka dukungan Program Satu Rekening Satu
                                                                     Pelajar (KEJAR) Otoritas Jasa Keuangan 2023.
                                                                     Collaboration in opening Tabungan Simpel savings
                                                                     account between Bank Sinarmas and Pelita Fajar School
                                                                     Bandung to support the One Account, One Student (KEJAR)
                                                                     Program by Financial Services Authority 2023.




 15 AGUSTUS / August 2023                                         29 AGUSTUS / August 2023

      Peresmian Co-Working Green Office Park 1 dan Media             Penandatanganan kerja sama antara Bank Sinarmas
      Conference.                                                    dengan PT POS Indonesia.
      Inauguration of Co-Working Green Office Park 1 and Media       Signing of cooperation agreement between Bank Sinarmas
      Conference.                                                    and PT POS Indonesia.




            Laporan Tahunan 2023
 80         2023 Annual Report
Page 83
                                                                     PT SINAR MAS MULTIARTHA TBK




6 SEPTEMBER / September 2023                                15 SEPTEMBER / September 2023

  Penyaluran Pembiayaan Kredit Usaha Rakyat (KUR)             Kerja sama Keagenan Laku Pandai antara I Wayan Kerta
  Syariah Bank Sinarmas Unit Usaha Syariah (UUS)              dengan Bank Sinarmas.
  dengan PT POS Indonesia.                                    Cooperation of Branchless Banking (Laku Pandai) Agency
  Disbursement of Sharia People’s Business Credit (KUR)       between I Wayan Kerta and Bank Sinarmas.
  Financing from Bank Sinarmas Sharia Business Unit (UUS)
  with PT POS Indonesia.




                                                            15 SEPTEMBER / September 2023

                                                              Penandatanganan Kerja sama Pembukaan Rekening
                                                              Tabungan Simpel antara Bank Sinarmas dengan SD
                                                              Negeri 1 Desa Taro dan SD Hindu/Adi Widya Pasraman
                                                              RSI Markandya Taro.
                                                              Signing of cooperation in opening Tabungan Simpel
                                                              savings account between Bank Sinarmas and SDN
                                                              1 Taro Village and SD Hindu/Adi Widya Pasraman
                                                              RSI Markandya Taro.




12 DESEMBER / December 2023                                 18 DESEMBER / December 2023

  Peluncuran Bank Sinarmas Prioritas.                         Public Expose Bank Sinarmas.
  The launch of Bank Sinarmas Prioritas.                      The public expose of Bank Sinarmas.




                                                                              Laporan Tahunan 2023
                                                                                 2023 Annual Report          81
Page 84
03        PROFIL PERUSAHAAN
          Company Profile




Penghargaan dan Sertifikasi                              Awards and Certifications




           17 Februari / February 2023                                 13 Maret / March 2023
      3rd Indonesia Syariah Awards 2023 -                           LinkedIn Talent Award 2022
               Syariah Insight 2023                         Best Talent Acquisition Team between 1.000 and
      Top Sharia Business Unit - KBMI 2 Category                        5.000 Employee Category




             Penyelenggara / Organizer:                                Penyelenggara / Organizer:
                    Iconomics                                                  LinkedIn




                           PT BANK SINARMAS TBK

                              As the Winner of
                    4th Indonesia Top Bank Awards 2023
                           In KBMI 2 Category




               27 Juni / June 2023                                     27 Juli / July 2023
      4th Indonesia Top Bank Awards 2023                    Indonesia Digital Customer Engagement
                  KBMI 2 Category                                       Champion 2023
                                                            Kategori Jasa Keuangan Bank, Predikat Very Good
                                                          Bank Financial Services Category, Very Good Predicate
             Penyelenggara / Organizer:                                Penyelenggara / Organizer:
                    Iconomics                                                    SWA




          Laporan Tahunan 2023
 82       2023 Annual Report
Page 85
                                                                                                PT SINAR MAS MULTIARTHA TBK




                    Warta Ekonomi proudly honors:

                    PT Bank Sinarmas Tbk.




                    as

                    Indonesia Best Bank 2023 for The Financial Service Solutions
                    that Meet Customer Needs

                    Category

                    KBMI 2



                    Friday, July 28th 2023
                    Jakarta




                    Muhamad Ihsan
                    CEO & Chief Editor




                28 Juli / July 2023                                                            13 Maret / March 2023
         Indonesia Best Bank Award 2023                                                Best Bank Performance of MSMEs Loans
The Financial Service Solutions that Meet Customer Needs                                            Award 2023
                     KBMI 2 Category                                               Bank Berpredikat “Sangat Prima” - Kategori Modal Inti Rp6
                                                                                   Triliun sampai dengan di bawah Rp14 Triliun (KBMI 2) Aset
                                                                                                      di bawah Rp50 Triliun
                                                                                   Bank of “Very Excellent” Predicate - Core Capital Category
                                                                                    Rp6 Trillion to below Rp14 Trillion (KBMI 2) Assets below
                                                                                                           Rp50 Trillion
              Penyelenggara / Organizer:                                                          Penyelenggara / Organizer:
                  Warta Ekonomi                                                                           Peluang




          25 Agustus / August 2023                                                          27 September / September 2023
   Human Resources Excellence Awards 2023                                                        12th Sharia Award 2023
 Excellence in Graduate Recruitment and Development -                                          Excellence Financial Performance
                         Silver                                                       Islamic Banking Unit of Commercial Banking in 2022
                                                                                            (Asset Class Rp5 Trillion - <Rp10 Trillion)
              Penyelenggara / Organizer:                                                          Penyelenggara / Organizer:
                 HumanResources                                                                           Infobank




                                                                                                         Laporan Tahunan 2023
                                                                                                            2023 Annual Report         83
Page 86
03       PROFIL PERUSAHAAN
         Company Profile




       27 September / September 2023                      27 September / September 2023
            12th Sharia Award 2023                             12th Sharia Award 2023
     The Best Asset Quality Islamic Banking Unit   Excellence Financial Performance Sharia Business Unit
               of Commercial Banking                    of Conventional Bank in 5 Consecutive Years
                                                                         (2018-2022)
            Penyelenggara / Organizer:                          Penyelenggara / Organizer:
                    Infobank                                            Infobank




         Laporan Tahunan 2023
84       2023 Annual Report
Page 87
                                                       PT SINAR MAS MULTIARTHA TBK




PT Asuransi Simas Jiwa




Kantor Pusat             Profil Perusahaan
Head Office              Company Profile

                         Pada awal didirikan tahun 2003, PT Asuransi Simas Jiwa (Asuransi Simas Jiwa/
 Gedung Simas Jiwa       ASJ) dikenal dengan nama PT Asuransi Jiwa Mega Life. Setelah terjadinya
 Jl. Lombok No. 73       perubahan struktur manajemen dan kepemilikan saham, perusahaan
 Jakarta Pusat 10350     mengubah nama menjadi PT Asuransi Simas Jiwa atau Simas Jiwa. Perubahan
   (021) 2854 7999       nama tersebut dilakukan untuk lebih mendekatkan perusahaan kepada
                         seluruh lapisan masyarakat sampai ke pelosok tanah air, yang memberikan
   0888 1234 008
                         makna bahwa keputusan nasabah untuk memiliki perlindungan nilai ekonomis
   cs@simasjiwa.com.id
                         bersama perusahaan, memberikan cahaya kebajikan, dan kenyamanan
   www.simasjiwa.co.id
                         bagi jiwa nasabah.


                         Langkah yang dilakukan untuk mendekatkan perusahaan dengan masyarakat
                         dibuktikan dengan wilayah operasional perusahaan yang tersebar di beberapa


                         When it was first established in 2003, PT Asuransi Simas Jiwa (Asuransi
                         Simas Jiwa/ASJ) was known as PT Asuransi Jiwa Mega Life. After a
                         change in the structure of management and share ownership, the
                         company then changed its name to PT Asuransi Simas Jiwa or Simas
                         Jiwa. The change of name is carried out to bring the company closer
                         to all levels of society up to the remote parts of the country, which gives
                         meaning that the customers decision to choose the company to give
                         economic value protection will bring lights of virtue and comfort to the
                         customers’ souls.


                         The above-mentioned approach is demonstrated by expanding the company’s
                         operational area to several big cities of Indonesia. ASJ has 8 sales offices




                                                                Laporan Tahunan 2023
                                                                   2023 Annual Report         85
Page 88
03           PROFIL PERUSAHAAN
             Company Profile




kota besar di Indonesia. ASJ memiliki 8 kantor pemasaran/         in 8 cities, namely Medan, Bogor, Bandung, Semarang,
sales office di 8 kota, yakni Medan, Bogor, Bandung,              Makassar, Surabaya, Manado, and Denpasar. In addition,
Semarang, Makassar, Surabaya, Manado, dan Denpasar.               ASJ also has 9 dedicated agency offices located in
ASJ juga memiliki 9 agensi kantor mandiri yang berlokasi          Kediri, Batam, Jakarta, Bandung, Semarang, Purbalingga,
di Kediri, Batam, Jakarta, Bandung, Semarang, Purbalingga,        and Surabaya.
dan Surabaya.


Pada akhir tahun 2023, Asuransi Simas Jiwa memiliki               Until the end of 2023, Asuransi Simas Jiwa employed
211 karyawan, terdiri dari 5 Direksi, 203 karyawan tetap,         211 people, consists of 5 Directors, 203 permanent
serta 3 karyawan lainnya. Karyawan-karyawan tersebut              employees, plus 3 other employees. These employees have
mendukung perusahaan untuk memberikan pelayanan                   supported the company in providing the optimal services
optimal bagi nasabah.                                             to the customers.


Dalam rangka meningkatkan pelayanan terhadap nasabah              In improving services to customers, ASJ constantly aligns
ASJ senantiasa menyelaraskan strategi pengembangan                its business development strategy to latest information
bisnis dengan teknologi informasi terkini. Penerapan TI yang      technology. Throughout 2023, ASJ has been implementing
dilakukan ASJ selama tahun 2023, di antaranya:                    the following IT activities:
1. Menerapkan sistem automasi end-to-end untuk                    1. Implementing end-to-end automation system to
    meningkatkan efisiensi dan produktivitas bisnis, mulai            improve business efficiency and productivity, from the
    dari proses underwriting, proses klaim, hingga proses             underwriting process, claims process, to the marketing
    pemasaran;                                                        process;
2. Mengintegrasikan sistem TI dengan mitra bisnis, baik           2. Integrating IT systems with business partners, both for
    untuk penjualan maupun layanan, dengan menggunakan                sales and services, using various integration protocols, such
    berbagai protokol integrasi, seperti application                  as application programming interface (API), file transfer
    programming interface (API), file transfer protocol (FTP),        protocol (FTP), and web portal, to increase the speed and
    dan web portal, sehingga dapat meningkatkan kecepatan             accuracy of business processes;
    dan ketepatan proses bisnis;
3. Mengimplementasikan teknologi baru, seperti artificial         3. Implement new technologies, such as artificial
    intelligence (AI), big data, dan cloud computing, untuk          intelligence (AI), big data, and cloud computing, to
    berinovasi dan meningkatkan layanan pelanggan;                   innovate and improve customer service;
4. Melakukan Sertifikasi ISO 27001:2023 untuk menunjukkan         4. Carrying out ISO 27001:2023 certification to show that
    bahwa Simas Jiwa menerapkan sistem keamanan informasi            Simas Jiwa is implementing effective information security
    yang efektif untuk melindungi data nasabah; dan                  system to protect customer data; and
5. Memperkuat keamanan TI dengan mengandalkan tim                 5. Strengthening IT security by relying on the Security
    security operation center (SOC) untuk mencegah, mendeteksi,      Operations Center (SOC) team to prevent, detect, analyze
    menganalisis, dan merespons insiden keamanan siber.              and respond to cybersecurity incidents.
Di samping penerapan TI, ASJ juga memfokuskan                     In addition to IT implementation, ASJ also focuses on
pengembangan produk asuransi jiwa tradisional untuk               developing traditional life insurance products to boost
meningkatkan pertumbuhan premi reguler. Aktivitas ini             regular premium growth. This activity is supported by the
didukung oleh pertumbuhan kemitraan bisnis yang baru dan          growth of new business partnerships and development of
perkembangan saluran distribusi agensi.                           agency distribution channels.



Produk dan Layanan                                                Products and Services

Dalam rangka meningkatkan kepuasan nasabah, ASJ                   Currently, to improves customer satisfaction, ASJ is
kini telah melakukan banyak pengembangan, mulai dari              conducting numerous developments such as digital services,
pelayanan digital, kualitas, hingga produktivitas. Selain itu,    quality, and productivity. Also, several distribution channels
sejumlah kanal distribusi disediakan, seperti Sales Direct,       have been prepared, such as Sales Direct, Bancassurance,
Bancassurance, Internet Business, Unit Usaha Syariah, dan         Internet Business, Sharia Business Unit, and Financial




              Laporan Tahunan 2023
  86          2023 Annual Report
Page 89
                                                                                         PT SINAR MAS MULTIARTHA TBK




Dana Pensiun Lembaga Keuangan. Melalui jalur digital,                      Institution Pension Fund. Through the digital channels,
masyarakat dapat membeli produk asuransi secara                            people can buy insurance products online via klikasuransiku.
online di klikasuransiku.com serta memantau polis dan                      com, as well as monitor the policy and submit claim online
melakukan klaim secara online di portal SiJi Access. Berbagai              via SiJi Access portal.The following table described various
macam produk asuransi ditawarkan ASJ kepada nasabah                        insurance products offered by ASJ to its customers.
sebagaimana diungkapkan pada tabel berikut.


                               Produk Konvensional                                                     Produk Syariah
                               Conventional Products                                                   Sharia Products

                         Individu                                    Grup                     Individu                      Grup
                        Individual                                   Group                   Individual                     Group
 •   SiJi Fixed Link           •   SiJi Critical High 50    • Asuransi Jiwa Kredit    • Simas Investa Link         • Asuransi Jiwa
 •   Simas Maxi Pro            •   SiJi Guard Series          Credit Life Insurance     Syariah                      Pembiayaan Syariah
 •   Simas Smart Save          •   SiJi Secure Series       • Asuransi Jiwa           • Simas Maxi Pro Syariah       Sharia Financing Life
 •   Simas 1 Link              •   SiJi Health Series         Tabungan                • Siji Proteksi Pasti          Insurance
 •   Simas Jiwa Legacy         •   SiJi Critical Series       Saving Life Insurance     Syariah                    • Asuransi Jiwa
 •   Simas Dana Pasti          •   SiJi Care Protection     • Group Personal          • SiJi Care Protection         Tabungan Syariah
 •   Simas Serenity Plan       •   Asuransi Tambahan:         Accident                  Syariah                      Sharia Saving Life
 •   Asuransi SiJi Smart Kid       Additional Insurance:    • Group Term Life         • SiJi Guard 1 Syariah         Insurance
 •   Simas Complete Care           - Personal Accident                                • SiJi Health 1 Syariah
 •   Simas Protection              - Critical Illness                                 • Asuransi Tambahan:
     Complete                      - Total Permanent                                    Additional Insurance
 •   Simas Demam                      Disability                                        - Personal Accident
     Berdarah                      - Term Life                                              Syariah
 •   Asuransi SiJi Loved           - Waiver of Premium                                  - Critical Illness
     One                           - Spouse Waiver of                                       Syariah
 •   SiJi Life Protection             Premium                                           - Total Permanent
 •   SiJi Proteksi Pasti           - Parent Pavor                                           Disability Syariah
 •   SiJI Rich Life                - Early Stage Critical                               - Term Life Syariah
                                      llness                                            - Waiver of
                                                                                            Contribution Syariah
                                                                                        - Spouse Waiver of
                                                                                            Contribution Syariah
                                                                                        - Parent Payor Syariah
                                                                                        - Early Stage Critical
                                                                                            Illness Syariah




Pengurus                                                                   Management

Dewan Komisaris                                                            Board of Commissioners
Komisaris Utama                    : Dumasi Marisina Magdalena             President Commissioner   : Dumasi Marisina Magdalena
                                     Samosir                                                          Samosir
Komisaris Independen               : Aditiawan Chandra                     Independent Commissioner : Aditiawan Chandra
Komisaris Independen               : Tengku Said Idris                     Independent Commissioner : Tengku Said Idris


Direksi                                                                    Board of Directors
Direktur Utama                     : Dewi Listyaningtyas                   President Director             : Dewi Listyaningtyas
Direktur                           : Gatot Herliyanto                      Director                       : Gatot Herliyanto
Direktur                           : Nasib Parulian Simamora               Director                       : Nasib Parulian Simamora
Direktur                           : Rudy Hermawan                         Director                       : Rudy Hermawan
Direktur                           : Janty Sumirkan                        Director                       : Janty Sumirkan


Dewan Pengawas Syariah                                                     Sharia Supervisory Board
Ahmad Nuryadi Asmawi                                                       Ahmad Nuryadi Asmawi




                                                                                                    Laporan Tahunan 2023
                                                                                                       2023 Annual Report             87
Page 90
03            PROFIL PERUSAHAAN
              Company Profile




Kinerja Keuangan                                                             Financial Performance
                                                                (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                   Uraian                          2023               2022           2021                             Description

Posisi Keuangan                                                                                                                  Financial Positions
Aset                                             23,420,850      28,879,077         33,647,581                                                   Assets
Liabilitas                                       22,062,179      27,628,766         32,541,700                                                Liabilities
Ekuitas                                           1,358,671       1,250,311          1,105,881                                                    Equity
Laba (Rugi) dan Penghasilan Komprehensif                                                                Profit (Loss) and Other Comprehensive
Lain                                                                                                                                  Income
Pendapatan Usaha - Bersih                         7,778,495      15,634,323         20,295,326                               Operating Income - Net
Beban Usaha                                       7,620,135      15,439,894         20,191,375                                   Operating Expenses
Laba Sebelum Pajak                                  158,360           194,430         103,951                                        Profit Before Tax
Laba (Rugi) Tahun Berjalan                          158,360           194,430         103,951                               Profit (Loss) for the Year
Penghasilan (Rugi) Komprehensif Lain -
                                                           -                  -                -
                                                                                                       Other Comprehensive Income (Loss) - Net
Bersih
Jumlah Penghasilan (Rugi) Komprehensif              158,360           194,430         103,951                  Total Comprehensive Income (Loss)




Peristiwa Penting                                                            Significant Events




  11 AGUSTUS / August 2023                                                        3 SEPTEMBER / September 2023

       Investor Appreciation Night                                                  SimInvest Goes to Campus
       Berpartisipasi dalam Investor Appreciation Night di Surabaya                 Berpartisipasi dalam kegiatan SimInvest Goes to Campus
       yang diselenggarakan oleh Sinarmas Sekuritas. Acara ini                      di Institut Pertanian Bogor. Pada kegiatan tersebut, ASJ
       dihadiri oleh Direktur Utama ASJ, Dewi Listyaningtyas, serta                 berbagi informasi mengenai produk SiJi Proteksi Pasti
       turut mengundang nasabah prioritas yang didampingi                           serta melakukan photobooth activation untuk menarik
       oleh Unit Direct Sales (Agency).                                             pengunjung. Kegiatan ini dihadiri oleh Direktur Utama ASJ,
       Participated in Investor Appreciation Night in Surabaya                      Dewi Listyaningtyas, dan Direktur Sales & Marketing, Janty
       held by Sinarmas Sekuritas. ASJ President Director, Dewi                     Sumirkan.
       Listyaningtyas, attended the event who also invited priority                 Participated in SimInvest Goes to Campus event at Institut
       customers, accompanied by the Direct Sales Unit (Agency).                    Pertanian Bogor. In this event, ASJ shared information
                                                                                    about SiJi Proteksi Pasti product and held photobooth
                                                                                    activation to attract visitors. ASJ President Director, Dewi
                                                                                    Listyaningtyas and Director of Sales & Marketing, Janty
                                                                                    Sumirkan, attended the event.




              Laporan Tahunan 2023
 88           2023 Annual Report
Page 91
                                                                           PT SINAR MAS MULTIARTHA TBK




12 OKTOBER / October 2023                                         21 OKTOBER / October 2023

  StarPoin Workshop                                                 J Trust Bank Matsuri
  Sinergi antar business unit dilakukan dalam kegiatan StarPoin     Berpartisipasi dalam perayaan ulang tahun J Trust
  dengan mengadakan workshop mengenai “Bagaimana                    Bank yang ke-8. Acara ini dihadiri oleh Direktur Sales
  Digital Marketing dan Personal Branding dapat Dilakukan           & Marketing, Janty Sumirkan, dan MarComm Division
  Secara Efektif bagi Tim Sales & Marketing”. Pembicara             Head, Debora Prescillia, serta Tim Sales Bancassurance.
  diisi oleh Tim MarComm ASJ dengan pengenalan produk               Kegiatan open booth ASJ tidak hanya dimeriahkan
  SiJi Proteksi Pasti pada booth yang tersedia.                     dengan aneka game dan door prize, tetapi juga
  Synergy between business units is done in StarPoin                pengenalan produk bancassurance bagi pengunjung mall
  event by hosting a workshop on “How Digital Marketing             serta karyawan J Trust Bank.
  and Personal Branding can be Done Effectively                     Participated in J Trust Bank’s 8th anniversary
  for Sales & Marketing Team”. ASJ MarComm Team                     celebration. The Director of Sales & Marketing, Janty
  served as the speaker while introducing the SiJi                  Sumirkan, MarComm Division Head, Debora Prescillia,
  Proteksi Pasti product at the available booth.                    and the Bancassurance Sales Team attended this
                                                                    event. The ASJ open booth was not only enlivened
                                                                    by various games and door prizes, but also the
                                                                    introduction of bancassurance products for mall visitors
                                                                    and J Trust Bank employees.




                                                                  12 OKTOBER / October 2023

                                                                    Asosiasi DPLK - CIMB Niaga Syariah - Otoritas
                                                                    Jasa Keuangan
                                                                    DPLK Association - CIMB Niaga Syariah -
                                                                    Financial Services Authority
                                                                    Dalam rangka Bulan Inklusi Keuangan, Unit Usaha Dana
                                                                    Pensiun Lembaga Keuangan (DPL) ASJ berpartisipasi
                                                                    dalam acara “Meraih Mimpi Masa Depan dan Edukasi
                                                                    Dana Pensiun Sejak Dini” di Taman Lentera Pustaka,
                                                                    Bogor. Acara ini turut dihadiri oleh Direktur Utama ASJ,
                                                                    Dewi Listyaningtyas.
                                                                    In commemorating Financial Inclusion Month, ASJ
                                                                    Financial Institution Pension Fund (DPL) Business Unit
                                                                    participated in the event “Achieving Future Dreams
                                                                    and Early Education on Pension Funds” at Taman
                                                                    Lentera Pustaka, Bogor. ASJ President Director, Dewi
                                                                    Listyaningtyas, attended this event.




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report          89
Page 92
03          PROFIL PERUSAHAAN
            Company Profile




 12 OKTOBER / October 2023                                       21 OKTOBER / October 2023

      BNI Investor Daily Summit 2023                                Marcomm Summit 2023 by AAJI
      Sustainable Growth, Global Challenges                         Berpartisipasi dalam kegiatan yang diselenggarakan oleh
      Berpartisipasi sebagai salah satu panelis dalam sesi          Asosiasi Asuransi Jiwa Indonesia (AAJI) dalam kegiatan
      “Insuring Indonesia: Revitalizing Indonesia’s Insurance       Marketing & Communication Summit 2023.
      Industry” dalam kegiatan BNI Investor Daily Summit 2023       Participated in the event held by Indonesian Life Insurance
      di Hutan Kota Plataran, Senayan, Jakarta.                     Association (AAJI) in the Marketing & Communication
      Participated as one of the panelists in the session           Summit 2023 event.
      “Insuring Indonesia: Revitalizing Indonesia’s Insurance
      Industry” in BNI Investor Daily Summit 2023 event
      at Hutan Kota Plataran, Senayan, Jakarta.




Penghargaan dan Sertifikasi                                     Awards and Certifications




            31 Januari / January 2023                                    17 Februari / February 2023
      Indonesia Excellence GCG Awards 2023                            Indonesia’s Popular Digital Product
   Managing a High Level of Company Performance                                  Awards 2023
                   in GCG Ethics                                         e-Customer Service in Life Insurance
               Penyelenggara / Organizer:                                     Penyelenggara / Organizer:
                   Warta Ekonomi                                                   The Iconomics




            Laporan Tahunan 2023
 90         2023 Annual Report
Page 93
                                                                     PT SINAR MAS MULTIARTHA TBK




          17 Februari / February 2023                               24 Februari / February 2023
              Syariah Insight 2023                                    Unit Link Awards 2023
           Top Sharia Business Unit in Life                              Unit Link Terbaik 2023
                Insurance Category                                        Best Unit Link 2023
             Penyelenggara / Organizer:                                Penyelenggara / Organizer:
                  The Iconomics                                           Investor - Infovesta




          28 Februari / February 2023                               28 Februari / February 2023
            Unit Link Awards 2023                                     Unit Link Awards 2023
              Simas Balanced Primer Fund                              Simas Jiwa Campuran Utama
dari PT Asuransi Simas Jiwa Unit Link Campuran Rupiah    dari PT Asuransi Simas Jiwa Unit Link Campuran Rupiah
 from PT Asuransi Simas Jiwa Rupiah Mixed Unit Link       from PT Asuransi Simas Jiwa Rupiah Mixed Unit Link
             Penyelenggara / Organizer:                                Penyelenggara / Organizer:
                 Media Asuransi                                            Media Asuransi




                                                                    28 Februari / February 2023
                                                                      Unit Link Awards 2023
                                                                            Simas Jiwa Fun Dollar
                                                           dari PT Asuransi Simas Jiwa Unit Link Pasar Uang Dolar
                                                        from PT Asuransi Simas Jiwa Dollar Money Market Unit Link
                                                                       Penyelenggara / Organizer:
                                                                           Media Asuransi




                                                                              Laporan Tahunan 2023
                                                                                 2023 Annual Report        91
Page 94
03        PROFIL PERUSAHAAN
          Company Profile




          28 Februari / February 2023                             30 Maret / March 2023
            Unit Link Awards 2023                        Indonesia Digital Innovation Awards 2023
           Simas Jiwa Investa Maxima Fund                        The Most Innovative Life Insurance
 dari PT Asuransi Simas Jiwa Unit Link Saham Rupiah        for The Acceleration of Digital Transformation
 from PT Asuransi Simas Jiwa Rupiah Share Unit Link            to Support Customer Transaction Ease
             Penyelenggara / Organizer:                             Penyelenggara / Organizer:
                 Media Asuransi                                         Warta Ekonomi




        24 November / November 2023                               30 Maret / March 2023
           Apparindo Awards 2023                        Indonesia Best Digital Finance Awards 2023
     Life Insurance Company Equity > 1.25 Trillion    Best Digital Finance for Customer Portal with Ease Access
                  Up to 4 Trillion IDR                                to Insurance Service Online
            Penyelenggara / Organizer:                              Penyelenggara / Organizer:
      Asosiasi Perusahaan Pialang Asuransi                              Warta Ekonomi
            dan Reasuransi Indonesia
     Association of Indonesian Insurance and
         Reinsurance Broker Companies




          Laporan Tahunan 2023
92        2023 Annual Report
Page 95
                                                         PT SINAR MAS MULTIARTHA TBK




PT Asuransi Sinar Mas




Kantor Pusat               Profil Perusahaan
Head Office                Company Profile

                           PT Asuransi Sinar Mas (ASM) dibentuk pada 27 Mei 1985, dengan nama
 Plaza Simas               PT Asuransi Kerugian Sinar Mas Dipta. Lebih dari 3 dekade mengabdi dan
 Jl. Fachrudin No. 18-20   melayani masyarakat Indonesia, ASM senantiasa menyediakan berbagai
 Tanah Abang               produk asuransi umum dan layanan yang inovatif sesuai dengan kebutuhan
 Jakarta 10250             dan perkembangan zaman. Hingga akhir tahun 2023, wilayah operasional
                           ASM menjangkau hampir seluruh wilayah Indonesia yang diwakili oleh
   (021) 390 2141 - 46
                           178 kantor, terdiri dari 35 kantor cabang, 52 kantor pemasaran, 20 kantor
   (021) 390 2159 - 60
                           pemasaran agensi, 24 kantor marketing point, dan 47 kantor marketing
   info@sinarmas.co.id
                           point agency. Selain itu, kegiatan operasional ASM juga didukung oleh
   www.sinarmas.co.id
                           1.337 karyawan yang kompeten dan profesional.


                           PT Asuransi Sinar Mas (ASM) was established on 27 May 1985 under the
                           name of PT Asuransi Kerugian Sinar Mas Dipta. ASM has been serving the
                           Indonesian communities for well over 3 decades, providing various general
                           insurance products and innovative services aligned with the need and
                           development over time. Until the end of 2023, ASM operational areas cover
                           almost all over Indonesia, represented by 178 offices, consists of 35 branch
                           offices, 52 marketing offices, 20 agency marketing offices, 24 marketing point
                           offices, and 47 marketing point agency offices. ASM operational is also backed
                           by 1,337 competent and professional employees.




                                                                   Laporan Tahunan 2023
                                                                      2023 Annual Report          93
Page 96
03             PROFIL PERUSAHAAN
               Company Profile




Kini, ASM dilengkapi asuransi Simas Covid-19 yang                   Currently, ASM launched Simas Covid-19 insurance that
menawarkan perlindungan khusus biaya perawatan                      offers special coverage for Covid-19 treatment costs. Simas
Covid-19. Simas Covid-19 tidak hanya menyediakan                    Covid-19 not only provides reimbursement for hospital costs
penggantian biaya rumah sakit, namun juga menjamin biaya            but also guarantees medical costs if customers undergo self-
medis apabila nasabah menjalani isolasi mandiri. Nasabah            isolation. Customers can purchase insurance online through
dapat membeli asuransi secara online melalui situs web              sinarmas.co.id website, Asuransi Sinar Mas Online mobile
sinarmas.co.id, mobile application Asuransi Sinar Mas Online,       application, and Star Poin mobile application.
serta mobile application Star Poin.


ASM juga meluncurkan aplikasi Gamipro, gim eksklusif                ASM also launched Gamipro application, an exclusive game
untuk business partners ASM, yang dapat diakses di halaman          for ASM’s business partners, which can be accessed on the
situs web. Gamipro berisi informasi tentang pekerjaan               website. Gamipro contains information on work featured in
yang dibalut menjadi permainan yang menyenangkan.                   a fun game. The game is connected to an application that
Gim ini terhubung dengan aplikasi yang dapat diakses                can be accessed by business partners, making it easier for
oleh business partners, sehingga memudahkan mereka                  them to disseminate the benefits of insurance protection.
dalam menyebarluaskan manfaat perlindungan asuransi.


ASM senantiasa memfasilitasi pendidikan dan pelatihan               ASM always facilitates employee education and trainings,
karyawan     dengan     total   pelaksanaan       rata-rata         with a total implementation of 40 hours/ employee/ per year.
40 jam/karyawan per tahun. Jenis pelatihan yang diberikan           Type of training provided include inhouse training, coaching,
berupa training inhouse, coaching, profesional, gelar               professional, professional degree and seminar/workshop of
keprofesian dan seminar/workshop dari berbagai bidang yang          various field in need. In 2023, total cost spent for employee
dibutuhkan. Pada tahun 2023, total biaya pengembangan               competency and skill development reached Rp13.56 billion.
kompetensi dan keahlian karyawan sebesar Rp13,56 miliar.



Produk                                                              Products
ASM menawarkan sebanyak 93 produk konvensional dan                  ASM offers 93 conventional products and 26 sharia
26 produk syariah. Produk dan jasa yang ditawarkan ASM              products. The following table presented the list of products
dapat dilihat pada tabel berikut.                                   and services offered by ASM.


                                                            Konvensional
                                                            Conventional

 Asuransi Super Proteksi         Asuransi Simas Super Health      Asuransi Peralatan Elektronik      Asuransi Gempa Bumi
 Super Protection Insurance      Simas Super Health Insurance     Electronic Equipment Insurance     Earthquake Insurance
 Asuransi Tanggung Gugat
 Direktur dan Pejabat            Asuransi Simas Surgical
                                                                  Asuransi Kerusakan Mesin           Simas Siber
 Perusahaan                      Insurance
                                                                  Machinery Breakdown Insurance      Simas Cyber
 The Company Director and        Simas Surgical Insurance
 OfficialsLiability Insurance
 Asuransi Tanggung Jawab                                          Asuransi Mesin dan Peralatan
 Hukum terhadap Publik           Asuransi Simas Mobil Bonus       Kontraktor                         Asuransi Simas Mikro Autobike
 Legal Accountability to         Simas Car Bonus Insurance        Contractor’s Plant and Machinery   Simas Micro Autobike Insurance
 Public Insurance                                                 Insurance
 Asuransi Simas Cancer
                                                                  Asuransi Rangka Kapal Laut         Asuransi Simas Growing Trees
 Insurance                       Simas Card Personal Accident
                                                                  Marine Hull Insurance              Simas Growing Trees Insurance
 Simas Cancer Insurance
                                                                                                     Asuransi Simas Energi dan
 Jaminan Penawaran               Asuransi Alat Berat              Asuransi Pengangkutan Laut         Migas
 Bid Bond                        Heavy Equipment Insurance        Marine Cargo Insurance             Simas Energy and Oil and
                                                                                                     Gas Insurance
                                                                  Asuransi Simas Rumah
                                                                  Hemat ++/Asuransi Semua
                                                                  Risiko Harta Benda dan             Asuransi Properti Purna
                                 Asuransi Kecelakaan Diri
 Jaminan Pelaksanaan                                              Gangguan Usaha                     Konstruksi
                                 (Simas Personal Accident)
 Performance Bond                                                 Simas Economical House             Post Property Construction
                                 Personal Accident Insurance
                                                                  ++/ Insurance/Property and         Insurance
                                                                  Business Disruption All
                                                                  Risk Insurance




               Laporan Tahunan 2023
  94           2023 Annual Report
Page 97
                                                                                      PT SINAR MAS MULTIARTHA TBK




                                                              Konvensional
                                                              Conventional

                                                                     Asuransi Simas                    Asuransi Simas
Jaminan Uang Muka                 Asuransi Kebakaran                 Ruko/Asuransi Kebakaran           Pembatalan Pertunjukan
Advance Payment Bond              Fire Insurance                     Simas Shophouse                   Simas Show Cancellation
                                                                     Insurance/Fire Insurance          Insurance

                                                                                                       Asuransi Simas
Jaminan Pemeliharaan              Asuransi Simas Mobil TPL           Asuransi Simas Hole in One        Perpanjangan Garansi Pabrik
Maintenance Bond                  Simas Car TPL Insurance            Simas Hole in One Insurance       Simas Plant Extension Guarantee
                                                                                                       Insurance

                                                                                                       Asuransi Simas
                                  Asuransi Kendaraan Bermotor
Jaminan Pembayaran                                                   Asuransi Simas Travel             Kerusuhan dan Huru-Hara
                                  Simas
Payment Bond                                                         Simas Travel Insurance            Simas Violence and Riot
                                  Simas Motor Vehicle Insurance
                                                                                                       Insurance

Kontra Bank Garansi               Simas Mobil Exclusive              Asuransi Kebongkaran              Asuransi Simas Satelit
Contra Bank Guarantee             Simas Exclusive Car                Burglary Insurance                Simas Satellite Insurance

                                  Asuransi Simas Sehat
Asuransi Kredit                   Corporate                          Simas Petani                      Asuransi Simas Perbankan
Credit Insurance                  Simas Corporate Health             Simas Farmer                      Simas Banking Insurance
                                  Insurance

Asuransi Kecelakaan Diri “Simas   Asuransi Simas Sehat               Asuransi Simas Proteksi
Proteksi PHK”                     Platinum                           Belanja
                                                                                                       Simas Pet Insurance
“Simas Proteksi PHK” Personal     Simas Health Platinum              Simas Shopping Protection
Accident Insurance                Insurance                          Insurance

                                  Asuransi Kesehatan
Asuransi Simas Expatriate         “Simas Sehat Gold”                 Asuransi Mikro Warisanku          Simas Mikro Autocar
Simas Expatriate Insurance        “Simas Sehat Gold”                 MyInheritance Micro Insurance     Simas Micro Autocar Insurance
                                  Health Insurance

                                  Asuransi Kesehatan
Simas UKM                         “Simas Sehat Executive”            Asuransi Mikro Rumahku            Simas Pembatalan Tiket
Simas SME                         “Simas Sehat Executive”            MyHouse Micro Insurance           Simas Ticket Cancellation
                                  Health Insurance

                                                                     Asuransi Mikro Stop
                                  Asuransi Penyimpanan Uang          Usaha-Erupsi                      Asuransi Simas Sepeda
Customs Bond
                                  Cash in Safe Insurance             Stop of Business-Eruption         Simas Bicycle Insurance
                                                                     Micro Insurance

                                                                     Asuransi Mikro Stop
                                  Asuransi Cash in Transit           Usaha-Gempa Tsunami               Peduli Care Anti Corona
Excise Bond
                                  Cash in Transit Insurance          Stop of Business-Tsunami          Anti-Corona Care
                                                                     Earthquake Micro Insurance

Asuransi Simas Accident
Protector                         Asuransi Simas Sehat Income        Asuransi Mikro Asuransiku
                                                                                                       Simas Covid-19
Simas Accident Protector          Simas Health Income Insurance      Micro MyInsurance Insurance
Insurance

                                                                     Si ABANG (Asuransi Anti
Asuransi Simas Family Protector   Simas Mudik
                                                                     Bangkrut) - Erupsi
Simas Family Protector            Homeward-bound Journeys                                              Simas Aviation
                                                                     Si ABANG (Anti-Bankruptcy
Insurance                         Simas
                                                                     Insurance) - Eruption

                                  Asuransi Semua Risiko Harta
Asuransi Simas Children           Benda dan Gangguan                 Si ABANG (Asuransi
Protector                         Usaha                              Anti Bangkrut) - Gempa Tsunami    Asuransi Simas Travel Covid-19
Simas Children Protector          Property and Business              Si ABANG (Anti-Bankruptcy         Simas Travel Insurance Covid-19
Insurance                         Interruption All Risk              Insurance) - Earthquake Tsunami
                                  Insurance

                                  Asuransi Kredit Kepemilikan
                                  Rumah (Simas KPR)/Asuransi
Asuransi Simas Hospital Care      Kebakaran                                                            Asuransi Simas Peti Kemas
                                                                     Simas Touring
Simas Hospital Care Insurance     Home Loan Insurance                                                  Simas Container Insurance
                                  (Simas Home Loan)/Fire
                                  Insurance

                                                                     Simas PA Mikro
                                  Asuransi Semua Risiko Kontraktor   Simas Perlindungan Mikro          Simas Mobil Fire and Theft
Simas Hospital Income
                                  Contractor All Risk Insurance      Simas PA Micro                    Simas Car Fire and Theft
                                                                     Simas Micro Protection




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report             95
Page 98
03             PROFIL PERUSAHAAN
               Company Profile




                                                               Konvensional
                                                               Conventional

                                                                                                           Asuransi Simas Tanggung
 Asuransi Hospital Income                                                SSI Mikro                         Jawab Pejabat dan Direktur
                                     Asuransi Semua Risiko
 Security                                                                Simas Sehat Mikro                 Perusahaan
                                     Pemasangan
 Hospital Income Security                                                SSI Micro                         The Company Director
                                     Erection All Risk Insurance
 Insurance                                                               Simas Sehat Micro                 and Officials Accountability
                                                                                                           Insurance
 Asuransi Simas Siber                                                    Asuransi Simas                    Asuransi Simas
 Proteksi                            Asuransi Simas Super Cover          Moveable All Risk                 Kontainer Domestik
 Simas Cyber Protection              Simas Super Cover Insurance         Simas Moveable                    Simas Domestic
 Insurance                                                               All Risk Insurance                Container Insurance
 Asuransi Simas Tanggung Jawab
 Profesi
 Simas Professional Responsibility
 Insurance



                                                                     Syariah
                                                                      Sharia

                                     Asuransi Simas Travel -                                               Asuransi Simas Mikro
 Asuransi Cash in Safe Syariah       Overseas Syariah                    Asuransi Kebongkaran Syariah      Autobike Syariah
 Cash in Safe Sharia Insurance       Simas Travel - Overseas             Burglary Sharia Insurance         Simas Micro Autobike
                                     Sharia Insurance                                                      Sharia Insurance
 Asuransi Personal Accident          Asuransi Contractors All Risk       Asuransi Syariah                  Asuransi Simas Mikro
 Syariah                             Syariah                             “Simas Sehat Executive Syariah”   Autocar Syariah
 Personal Accident Sharia            Contractors All Risk Sharia         “Simas Sehat Executive Sharia”    Simas Micro Autocar
 Insurance                           Insurance                           Insurance                         Sharia Insurance
                                                                         Asuransi Simas Siswa              Asuransi Simas Industrial
 Kendaraan Bermotor Syariah          Asuransi Rangka Kapal Syariah       Mikro Syariah                     All RIsk Syariah
 Motor Vehicle Sharia Insurance      Marine Hull Sharia Insurance        Simas Micro Student               Simas Industrial All Risk
                                                                         Sharia Insurance                  Sharia Insurance
                                                                         Asuransi Simas Petani
                                     Asuransi Alat Berat Syariah
 Asuransi Cash in Transit Syariah                                        Mikro Syariah                     Asuransi Simas KPR Syariah
                                     Heavy Equipment Sharia
 Cash in Transit Sharia Insurance                                        Simas Micro Farmer                Simas KPR Sharia Insurance
                                     Insurance
                                                                         Sharia Insurance
                                     Asuransi Peralatan Elektronik       Asuransi Simas Perlindungan       Asuransi Simas Machinery
 Asuransi Syariah “Kebakaran”        Syariah                             Mikro Syariah                     Breakdown Syariah
 “Fire” Sharia Insurance             Electronic Equipment Sharia         Simas Protection Micro Sharia     Simas Machinery Breakdown
                                     Insurance                           Insurance                         Sharia Insurance
                                     Asuransi Simas Sehat Gold
                                                                                                           Asuransi Pengangkutan
 Asuransi Simas UKM Syariah          Syariah                             Property All Risk Syariah
                                                                                                           Barang Syariah
 Simas SME Sharia Insurance          Simas Sehat Gold Sharia             Property All Risk Sharia
                                                                                                           Cargo Sharia Insurance
                                     Insurance
 Asuransi Tanggung Gugat
                                     Earthquake Syariah
 Publik Syariah
                                     Earthquake Sharia
 Public Liability Sharia Insurance




Pengurus                                                                  Management

Dewan Komisaris                                                           Board of Commissioners
Komisaris Utama                   : Indra Widjaja                         President Commissioner                : Indra Widjaja
Wakil Komisaris Utama             : Ivena Widjaja                         Vice of President Commissioner        : Ivena Widjaja
Komisaris                         : Johanes Eddy Dharmasoeka              Commissioner                          : Johanes Eddy
                                                                                                                  Dharmasoeka
Komisaris Independen              : Tonny Latidjan                        Independent Commissioner              : Tonny Latidjan




               Laporan Tahunan 2023
  96           2023 Annual Report
Page 99
                                                                                           PT SINAR MAS MULTIARTHA TBK




Direksi                                                                 Board of Directors
Direktur Utama        : Howen Widjaja                                   President Director : Howen Widjaja
Direktur              : I Ketut Pasek Swastika                          Director           : I Ketut Pasek Swastika
Direktur              : Njoman Sudartha                                 Director           : Njoman Sudartha
Direktur              : Aryanto Alimin                                  Director           : Aryanto Alimin
Direktur              : Dumasi Marisina Magdalena Samosir               Director           : Dumasi Marisina Magdalena Samosir
Direktur              : Marten Petrus Lalamentik                        Director           : Marten Petrus Lalamentik


Dewan Pengawas Syariah                                                  Sharia Supervisory Board
Ketua                 : Muhammad Faisal Muchtar                         Chairman                  : Muhammad Faisal Muchtar
Anggota               : Latief Awaludin                                 Member                    : Latief Awaludin



Kinerja Keuangan                                                        Financial Performance
                                                              (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                   Uraian                         2023           2022              2021                             Description

 Posisi Keuangan Konsolidasian                                                                    Consolidated Financial Positions
 Aset                                            40,395,414   45,035,766         47,706,642       Assets
 Liabilitas                                      34,857,493   40,147,437         43,197,356       Liabilities
 Ekuitas                                          5,537,921     4,888,329         4,509,286       Equity
 Laba (Rugi) dan Penghasilan                                                                      Consolidated Profit (Loss) and Other
 Komprehensif Lain Konsolidasian                                                                  Comprehensive Income
 Jumlah Pendapatan                               19,058,611   21,040,736         26,644,133       Total Income
 Jumlah Beban                                    18,350,875   20,509,386         26,423,266       Total Expenses
 Laba Sebelum Zakat                                707,736        531,351           220,867       Profit Before Zakat
 Laba Sebelum Pajak Penghasilan                    706,334        529,849           219,706       Profit Before Income Tax
 Laba (Rugi) Tahun Berjalan                        673,825        353,314           187,812       Profit (Loss) for the Year
 Penghasilan (Rugi) Komprehensif Lain - Bersih      25,047         25,729           (14,322)      Other Comprehensive Income (Loss) - Net
 Jumlah Penghasilan (Rugi) Komprehensif            699,232        379,043           173,490       Total Comprehensive Income (Loss)




Penghargaan dan Sertifikasi                                             Awards and Certifications




                26 Januari / January 2023                                             26 Januari / January 2023
              Indonesia GCG Award VII 2023                                    Indonesia Risk Management Award V 2023
               The Best Indonesia GCG 2023                                  The Best Indonesia Enterprises Risk Management 2023
   2nd Category: General Insurance (Asset >Rp30 Trillion)                    1st Category: General Insurance (Asset >Rp30 Trillion)
                  Penyelenggara / Organizer:                                                   Penyelenggara / Organizer:
                     Economic Review                                                              Economic Review




                                                                                                        Laporan Tahunan 2023
                                                                                                           2023 Annual Report                   97
Page 100
03        PROFIL PERUSAHAAN
          Company Profile




          26 Januari / January 2023                                     11 Mei / May 2023
       Indonesia Finance Award V 2023                               Indonesia Wow Brand 2023
           The Best Indonesia Finance 2023                                  Silver Champion
1st Category: General Insurance (Asset > Rp30 Trillion)              Category: Automotive Insurance
             Penyelenggara / Organizer:                                Penyelenggara / Organizer:
                Economic Review                                             Mark Plus Inc




                7 Juni / June 2023                                        7 Juni / June 2023
              Top CSR Awards 2023                                       Top CSR Awards 2023
                  Category: #STAR 5                          Category: Top Leader on CSR Commitment 2023
             Penyelenggara / Organizer:                                Penyelenggara / Organizer:
                   Top Business                                              Top Business




                                                                        27 Juli / July 2023
                                                                 Infobank Insurance Awards 2023
                                                          The Best Performance General Insurance Company 2023
                                                                 Category: Gross Premium >IDR 2,5 Trillion
                                                                       Penyelenggara / Organizer:
                                                                               Infobank




          Laporan Tahunan 2023
98        2023 Annual Report
Page 101
                                                        PT SINAR MAS MULTIARTHA TBK




          27 Juli / July 2023                                 28 Juli / July 2023
2023 Insurance Market Leaders Award                        Investor Daily Awards
General Insurance Market Leaders Award 2023                  Best Insurance 2023
                                                       Asuransi Umum Aset >Rp5 Triliun
         Penyelenggara / Organizer:                       Penyelenggara / Organizer:
             Media Asuransi                                    Investor Daily




    6 September / September 2023                      6 September / September 2023
        Top GRC Awards 2023                               Top GRC Awards 2023
             Category: #STAR 5                       The Most Committed GRC Leader 2023
         Penyelenggara / Organizer:                       Penyelenggara / Organizer:
               Top Business                                     Top Business




                                                      6 September / September 2023
                                                          Top GRC Awards 2023
                                              The High Performing Corporate Secretary on GRC 2023
                                                          Penyelenggara / Organizer:
                                                                Top Business




                                                                 Laporan Tahunan 2023
                                                                    2023 Annual Report       99
Page 102
03       PROFIL PERUSAHAAN
         Company Profile




       18 September / September 2023                18 September / September 2023
            2023 Insurance Award                         2023 Insurance Award
        Best Sharia General Insurance 2023              Best General Insurance 2023
          Kategori: Ekuitas >Rp100 Miliar              Kategori: Ekuitas >Rp1,5 Triliun
          Category: Equity >Rp100 Billion              Category: Equity >Rp1.5 Trillion
            Penyelenggara / Organizer:                   Penyelenggara / Organizer:
                Media Asuransi                               Media Asuransi




                                                    27 September / September 2023
                                                        12nd Sharia Award 2023
                                                   Excellence Financial Performance Islamis
                                               Banking Unit of General Insurance Company 2022
                                                       (Gross Premium >IDR100 Billion)
                                                         Penyelenggara / Organizer:
                                                                 Infobank




      19 Desember / December 2023                  18 September / September 2023
 Digital Financial Excellence Awards 2023      Digital Financial Excellence Awards 2023
      Peringkat 1 Asuransi Umum Konvensional                   Best Insurance
                 Ekuitas >Rp1 Triliun
       Rank 1 Conventional General Insurance
                 Equity >Rp1 Trillion
            Penyelenggara / Organizer:                   Penyelenggara / Organizer:
                Media Asuransi                               Media Asuransi




         Laporan Tahunan 2023
100      2023 Annual Report
Page 103
                                                           PT SINAR MAS MULTIARTHA TBK




PT Sinartama Gunita




Kantor Pusat                  Profil Perusahaan
Head Office                   Company Profile

                              PT Sinartama Gunita (Sinartama Gunita) merupakan Entitas Anak PT Sinar
 Menara Tekno Lt. 7           Mas Multiartha Tbk yang bergerak di bidang pengelolaan administrasi
 Jl. H. Fachruddin No. 19     saham Perusahaan Publik (Emiten) yang melakukan pencatatan saham di
 Jakarta Pusat 10250          Bursa Efek Indonesia. Sinartama Gunitama mendapat izin usaha dari Badan
                              Pengawas Pasar Modal (BAPEPAM) dengan No. Kep-082/PM/1991 dengan
   (021) 392 2332
                              sebagian besar saham dimiliki oleh PT Sinar Mas Multiartha Tbk. Hingga
   (021) 392 3003
                              akhir tahun 2023, Sinartama Gunita dipercaya mengelola administrasi
   hepdesk1@sinartama.co.id
                              saham dari 136 Emiten/Perusahaan Publik, didukung oleh 13 karyawan yang
   www.sinartamagunita.com
                              mahir di bidangnya.


                              Dalam menghadapi persaingan usaha, khususnya di bidang pengelolaan
                              administrasi efek, Sinartama Gunita berkomitmen untuk melakukan terobosan-


                              PT Sinartama Gunita (Sinartama Gunita) is the Subsidiary of PT Sinar
                              Mas Multiartha Tbk engaging in the administration of shares of
                              Public Company (Issuer) that listed its shares in Indonesia Stock Exchange.
                              Sinartama Gunitama, which majority of shares is owned by PT Sinar Mas
                              Multiartha Tbk, obtained a business license No. Kep 082/PM/1991 from
                              Capital Market Supervisory Board (BAPEPAM). Up to the end of 2023,
                              Sinartama Gunita has managed the shares administration of 136 Issuers/
                              Public Companies, supported by 13 employees who are experts in the
                              respective fields.


                              In facing business competition, particularly in the field of shares
                              administration, Sinartama Gunita is committed to do new breakthrough that




                                                                    Laporan Tahunan 2023
                                                                       2023 Annual Report         101
Page 104
03             PROFIL PERUSAHAAN
               Company Profile




terobosan baru yang sesuai dengan perkembangan industri                is in line with the development of capital market industry. In
pasar modal. Selain itu, dengan dukungan tim manajemen                 addition, with the support of the management team, as well
dan karyawan yang berkualitas serta berpengalaman,                     as qualified and experienced employee, Sinartama Gunita
Sinartama Gunita yakin akan mampu mencapai pertumbuhan                 believe it will be able to achieve stable business growth and
usaha yang stabil dan dapat berkontribusi lebih demi                   can contribute more to the development of capital market
perkembangan industri pasar modal Indonesia.                           industry in Indonesia.



Pengurus                                                               Management

Dewan Komisaris                                                        Board of Commissioners
Komisaris Utama       : Indra Widjaja                                  President Commissioner                 : Indra Widjaja
Komisaris             : Fuganto Widjaja                                Commissioner                           : Fuganto Widjaja


Direksi                                                                Board of Directors
Direktur Utama        : Hendric Gondokusumo                            President Director                     : Hendric Gondokusumo
Direktur              : Felix                                          Director                               : Felix
Direktur              : Rasidah Binti Haji Mahadi                      Director                               : Rasidah Binti Haji Mahadi



Kinerja Keuangan                                                       Financial Performance
                                                             (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                   Uraian                           2023        2022              2021                             Description

 Posisi Keuangan                                                                                                              Financial Positions
 Aset                                           729,031        660,022           687,260                                                      Assets
 Liabilitas                                          3,774        5,825             5,046                                                  Liabilities
 Ekuitas                                        725,257        654,197           682,215                                                       Equity
 Laba Rugi dan Penghasilan                                                                                                Profit Loss and Other
 Komprehensif Lain                                                                                                      Comprehensive Income
 Pendapatan                                         16,087        7,392            10,233                                                    Income
 Beban                                               6,668        6,375             5,472                                                  Expenses
 Laba Sebelum Pajak                                  9,420        1,018             4,761                                         Profit Before Tax
 Laba Bersih                                         9,068          948             4,279                                                  Net Profit
 Total Penghasilan (Rugi) Komprehensif Lain         68,792     (28,966)          218,831            Total Other Comprehensive Income (Loss)
 Total Penghasilan (Rugi) Komprehensif              77,860     (28,017)          223,110                 Total Comprehensive Income (Loss)




               Laporan Tahunan 2023
  102          2023 Annual Report
Page 105
                                                               PT SINAR MAS MULTIARTHA TBK




PT Sinarmas Sekuritas




Kantor Pusat                     Profil Perusahaan
Head Office                      Company Profile

                                 PT Sinarmas Sekuritas didirikan tahun 1988 dengan nama PT Sinarmas
 Sinar Mas Land Plaza            Ekagraha Money Changer yang bergerak dalam bidang perdagangan
 Tower III Lt. 5-6               valuta asing, traveler’s cheque, dan surat-surat berharga lainnya dalam
 Jl. MH Thamrin No. 51           valuta asing. PT Sinarmas Ekagraha Money Changer mengalami dua kali
 Jakarta 10350                   pergantian nama, pertama tahun 1989 menjadi PT Sinarmas Ekagraha,
                                 dan kedua tahun 1995 menjadi PT Sinarmas Sekuritas hingga saat ini.
   (021) 5050 7000
                                 Pada tahun 2023, Sinarmas Sekuritas memiliki 21 kantor cabang di seluruh
   (021) 392 5540, 392 7177
                                 Indonesia serta didukung 199 karyawan, dengan beberapa produk unggulan
   cs@sinarmassekuritas.co.id
                                 seperti brokerage service, corporate finance (termasuk fixed income broker
   www.sinarmassekuritas.co.id
                                 service), galeri investasi, dan layanan agen penjual efek reksa dana (APERD).


                                 PT Sinarmas Sekuritas was established in 1998 under the name of
                                 PT Sinarmas Ekagraha Money Changer that operates in foreign exchange
                                 trading, traveler’s cheque, and other foreign currency securities. In 1989
                                 PT Sinarmas Ekagraha Money Changer changed its name to PT Sinarmas
                                 Ekagraha, then in 1995 the Company changed its name to PT Sinarmas
                                 Sekuritas until now. In 2023, Sinarmas Sekuritas has 21 branch offices all
                                 over Indonesia and backed by 199 employees, with several featured products
                                 such as brokerage service, corporate finance (including fixed income broker
                                 service), investment gallery, and mutual fund sales agent (APERD) service.




                                                                        Laporan Tahunan 2023
                                                                           2023 Annual Report         103
Page 106
03            PROFIL PERUSAHAAN
              Company Profile




Produk                                                                     Products

                                                Simas Equity (Online Equity Trading)

Fasilitas perdagangan online yang disediakan oleh Sinarmas Sekuritas     Setoran Awal / Initial Deposit   : Rp500,000
untuk melakukan perdagangan saham melalui internet. Nasabah bisa
                                                                         Fee Beli / Buying Fee            : 0.15%
langsung melakukan perdagangan saham tanpa melalui sales/broker.
Online trading facility provided by Sinarmas Sekuritas to do trading     Fee Jual / Selling Fee           : 0.25%
of shares through the internet. The customers can trade the shares
                                                                         Day Trade                        : Fee beli 0,125% dan fee jual 0,225%
directly without having to contact the sales/broker.
                                                                                                            Buying fee 0.125% and selling fee
                                                                                                            0.225%
                                                                         Market Info                      : Gratis / Free of charge
                                                                         Registrasi / Registration        : www.sinarmassekuritas.co.id
Keunggulan                                                               Superiority
• Aman, aplikasi Simas Equity menggunakan sistem enkripsi;               • Safe, Simas Equity application use encryption system;
• Real-Time, dapat melakukan order beli/jual dan memantau portofolio     • Real-Time, can-do buy/sell order and monitor the portfolio in real
  secara real time melalui aplikasi Simas.Net; dan                         time through Simas.Net application; and
• Mobile, memudahkan untuk bertransaksi dan memantau saham               • Mobile, enable the customers/users to do the transaction and
  kapan saja dan di mana saja selama terhubung dengan jaringan             monitor the shares anytime, anywhere provided there is an internet
  internet.                                                                connection

                                                             Regular Trading

Fasilitas yang disediakan bagi nasabah yang ingin melakukan              Setoran Awal / Initial Deposit   : Rp25,000,000
perdagangan saham melalui sales/broker.
                                                                         Fee Beli / Buying Fee            : 0.25%
Facility provided for the customers who prefer to do trading of shares
through sales/broker.                                                    Fee Jua / Selling Feel           : 0.35%
                                                                         Day Trade                        : Fee beli 0,15% dan fee jual 0,25%
                                                                                                            Buying fee 0.15% and selling fee
                                                                                                            0.25%
                                                                         Market Info                      : Gratis (melalui email)
                                                                                                            Free of charge (via email)
                                                                         Registrasi / Registration        : Cabang Sinarmas terdekat
                                                                                                            Nearest Sinarmas branch
Keunggulan                                                               Superiority
• Tim Financial Advisor yang profesional dan berpengalaman;              • Professional and experienced Financial Advisor Team;
• Harga yang kompetitif;                                                 • Competitive price;
• Suku bunga yang kompetitif; dan                                        • Competitive interest rate; and
• Pelayanan yang memuaskan.                                              • Satisfactory services.

                                                      Exchange Traded Fund (ETF)

Reksa dana berupa kontrak investasi kolektif yang unit penyertaannya dicatat dan diperdagangkan di bursa efek dengan kode saham
XSBC. Seperti halnya saham atau reksa dana pada umumnya, terdapat pula manajer investasi dan bank kustodian dalam ETF ini.
This is a mutual fund product, a collective investment contract which participation unit is registered and traded in the stock exchange under
share code XSBC. Similar to the common shares or mutual fund, this ETF product has an investment manager and custodian bank.

                                                              Margin Trading

Merupakan fasilitas pembiayaan transaksi ekuitas yang diberikan oleh Sinarmas Sekuritas untuk nasabah. Keuntungan dari pembelian fasilitas
transaksi margin adalah:
• Meningkatkan daya beli (buying power) nasabah;
• Nasabah dapat memantau portofolio setiap waktu melalui fasilitas online trading;
• Minimal deposit adalah Rp200 juta dapat berupa tunai atau saham yang memenuhi ketentuan di list saham margin;
• Suku bunga margin yang kompetitif; serta
• Proses pengajuan fasilitas margin yang cepat dan mudah.
This is a financing facility for equity transactions provided by Sinarmas Sekuritas for its customers. The benefit of doing buying transactions
using margin transaction facility is as follows:
• To improve customer buying power;
• Customer can monitor their portfolio through online trading facility at any time;
• Minimum deposit of Rp200 million can be in a form of cash or shares that comply the condition stated is the list of margin shares;
• Competitive margin interest rate; and
• Fast and simple application process of margin facility.




              Laporan Tahunan 2023
 104          2023 Annual Report
Page 107
                                                                                           PT SINAR MAS MULTIARTHA TBK




                                                                  SimInvest

 SimInvest Desktop                                                        SimInvest Mobile
 Aplikasi perdagangan ekuitas daring yang memungkinkan nasabah            Aplikasi gratis yang memungkinkan nasabah melakukan transaksi
 melakukan transaksi jual beli saham tanpa melalui sales/broker,          jual beli saham dan memantau harga saham di mana saja dan kapan
 memantau langsung perkembangan harga saham, serta mendapatkan            saja melalui smartphone. Untuk membantu nasabah mengambil
 informasi terkini mengenai transaksi saham dengan lebih cepat, akurat,   keputusan yang tepat dalam transaksi saham, aplikasi ini juga
 dan fleksibel di desktop. Dilengkapi sistem enkripsi secured socket      menampilkan hasil riset Tim Riset Sinarmas Sekuritas, dan berita
 layer (SSL), seperti yang digunakan pada internet banking, nasabah       terkini.
 dapat melaksanakan transaksi saham secara real-time dengan aman          A free application that allows the customers to make stock trading
 melalui komputer di mana saja dan kapan saja.                            transactions and monitor stock prices anywhere and anytime via a
 An online equity trading application that allows the customers           smartphone. In order to help customers, to make the right decisions
 to make stock trading transactions without going through sales/          in stock transactions, this application also displays the research
 brokers, directly monitor stock price developments, and to get           results of the Sinarmas Sekuritas Research Team, and the latest
 the latest information on stock transactions on the desktop              news.
 in a quick, accurate, and flexible manner. It is equipped with a
 secured socket layer (SSL) encryption system, as used in internet
 banking, the customers can carry out real-time stock transactions
 safely via computers anywhere and anytime.

                                                               SimInvestLab

 Platform belajar investasi saham secara garis (dalam bentuk video pembelajaran dan kuis) yang dapat diakses oleh seluruh investor.
 Free stock investment learning platform (in the form of learning videos and quizzed) that can be accessed by all investors.

                                                               SimInvestival

 SimInvestival adalah program edukasi dan literasi seputar pengaturan keuangan dan investasi yang dikemas dalam bentuk acara seminar talk
 show secara online dan offline, menyasar anak muda sebagai calon-calon smart investor masa kini. SimInvestival menggandeng mitra-mitra
 terbaik untuk menghadirkan acara edukasi yang sesuai dan menyenangkan serta bermanfaat bagi semua orang.

 Target Peserta:
 Anak muda usia 18-30 tahun dari berbagai universitas, pengusaha muda, influencer, serta komunitas di Indonesia.

 Tujuan:
 • Memberikan edukasi seputar investasi dan bisnis untuk anak muda;
 • Sarana diskusi dan bertukar informasi antara pengusaha muda; dan
 • Memotivasi anak muda untuk memanfaatkan peluang bisnis dan investasi secara digital.

 SimInvestival is an education and literacy program revolved around financial and investment management, packed in the form of online
 and offline talk show seminars, targeting youngster as potential smart investors today. SimInvestival collaborates with the best partners to
 present appropriate educational events that are fun and beneficial for everyone.

 Target Participants:
 Young people of 18-30 years old from various universities, young entrepreneurs, influencers and communities in Indonesia.

 Objectives:
 • Provide education on investment and business for youngster;
 • A medium of discussion and trade information among young entrepreneurs; and
 • Motivate the youngster to utilize business and investment opportunities digitally.




Pengurus                                                                   Management

Dewan Komisaris                                                            Board of Commissioners
Komisaris Utama                  : Ferita                                  President Commissioner   : Ferita
Komisaris Independen             : Sungkana                                Independent Commissioner : Sungkana


Direksi                                                                    Board of Directors
Direktur Utama                   : Jamial Salim Konpoi                     President Director              : Jamial Salim Konpoi
Direktur                         : Innes Margaretha                        Director                        : Innes Margaretha
Direktur                         : Kie Kie                                 Director                        : Kie Kie
Direktur                         : Julius Sanjaya                          Director                        : Julius Sanjaya




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report           105
Page 108
03                  PROFIL PERUSAHAAN
                    Company Profile




Kinerja Keuangan                                                                      Financial Performance
                                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                         Uraian                               2023             2022              2021*)                           Description

     Posisi Keuangan Konsolidasian                                                                                          Consolidated Financial Positions
     Aset                                                   2,089,304        2,176,432         1,700,035                                                     Assets
     Liabilitas                                               501,249          665,872           388,774                                                  Liabilities
     Ekuitas                                                1,588,055        1,510,560         1,311,261                                                      Equity
     Laba Rugi dan Penghasilan Komprehensif                                                                              Consolidated Profit Loss and Other
     Lain Konsolidasian                                                                                                             Comprehensive Income
     Pendapatan Usaha                                         614,700          552,109           389,031                                        Operating Income
     Beban Usaha                                              289,451          259,893           203,801                                      Operating Expense
     Laba Sebelum Pajak                                       365,029          345,412           204,146                                         Profit Before Tax
     Beban Pajak                                               74,853            73,093            53,834                                             Tax Expense
     Laba Tahun Berjalan                                      290,176          272,319           150,312                                        Profit for the Year
     Total Penghasilan (Rugi) Komprehensif Lain                (2,677)            1,980            (2,984)         Total Other Comprehensive Income (Loss)
     Total Penghasilan Komprehensif                           287,499          274,299           147,329                Total Comprehensive Income (Loss)
*)
     Setelah reklasifikasi terkait Peraturan Otoritas Jasa Keuangan No. 20 /POJK.04/2021 dan Surat Edaran Otoritas Jasa Keuangan No. 25/SEOJK.04/2021. / After
     reclassification related to Financial Services Authority Regulation No. 20/POJK.04/2021 and Financial Services Authority Circular Letter No. 25/SEOJK.04/2021.




Peristiwa Penting                                                                     Significant Events




       1 MARET / March 2023

            Peluncuran International Brand Ambassador
            International Brand Ambassador Launching




                    Laporan Tahunan 2023
      106           2023 Annual Report
Page 109
                                                        PT SINAR MAS MULTIARTHA TBK




4 MARET / March 2023

   SimInvest Fun Bike Supported by Techconnect




11 JUNI / June 2023                              3 SEPTEMBER / September 2023

   SimInvest Goes to Korea                         SimInvest Goes to Campus




                                                               Laporan Tahunan 2023
                                                                  2023 Annual Report   107
Page 110
03       PROFIL PERUSAHAAN
         Company Profile




PT Sinarmas Asset Management




Kantor Pusat                    Profil Perusahaan
Head Office                     Company Profile

                                PT Sinarmas Asset Management merupakan Entitas Anak PT Sinar Mas
 Sinar Mas Land Plaza           Multiartha Tbk yang melakukan kegiatan pengelolaan usaha sekuritas. Hingga
 Tower III Lt. 7                akhir tahun 2023, Sinarmas Asset Management telah membuka 23 kantor
 Jl. MH Thamrin No. 51          cabang di beberapa kota di Indonesia, yaitu Ambon, Balikpapan, Banjarmasin,
 Jakarta 10350                  Batam, Bogor, Fatmawati, Garut, Kediri, Kudus, Lampung, Mataram, Padang,
                                Palembang, Palu, Pangkal Pinang, Pekalongan, Pekanbaru, Purwokerto,
   (021) 5050 7000
                                Samarinda, Sidoarjo, Sukabumi, Tanjung Pinang, dan Thamrin.
   (021) 392 5540, 392 7177

                                Sinarmas Asset Management juga menjamin dapat memberikan pelayanan
                                prima kepada seluruh nasabah karena didukung oleh 155 karyawan yang
                                profesional dan berkualitas.


                                PT Sinarmas Asset Management is the Subsidiary of PT Sinar Mas Multiartha
                                Tbk engaging in securities management. Until the end of 2023, Sinarmas
                                Asset Management has opened 23 branch offices in several Indonesia cities,
                                such as Ambon, Balikpapan, Banjarmasin, Batam, Bogor, Fatmawati, Garut,
                                Kediri, Kudus, Lampung, Mataram, Padang, Palembang, Palu, Pangkal Pinang,
                                Pekalongan, Pekanbaru, Purwokerto, Samarinda, Sidoarjo, Sukabumi,
                                Tanjung Pinang, and Thamrin.


                                Supported by 155 professional and qualified employees, Sinarmas Asset
                                Management also provides the first-class services to its customers.




         Laporan Tahunan 2023
 108     2023 Annual Report
Page 111
                                                                             PT SINAR MAS MULTIARTHA TBK




Dalam mendukung kegiatan usaha perusahaan, terutama            To support the company’s business, particularly mutual fund
untuk pemasaran produk reksa dana, Sinarmas Asset              marketing, Sinarmas Asset Management has collaborated
Management telah menjalin kerja sama dengan 542 agen,          with 542 agents, namely:
di antaranya:
1. PT Sinarmas Sekuritas;                                      1. PT Sinarmas Sekuritas;
2. PT Bank Sinarmas Tbk;                                       2. PT Bank Sinarmas Tbk;
3. PT Indo Premier (IPOT);                                     3. PT Indo Premier (IPOT);
4. PT Bareksa Portal Investama;                                4. PT Bareksa Portal Investama;
5. PT Invesnow Principal Optima;                               5. PT Invesnow Principal Optima;
6. PT Trimegah;                                                6. PT Trimegah;
7. PT Mandiri Sekuritas;                                       7. PT Mandiri Sekuritas;
8. PT Mirae Asset Sekuritas;                                   8. PT Mirae Asset Sekuritas;
9. PT BNI Sekuritas;                                           9. PT BNI Sekuritas;
10. PT Aldiracita Sekuritas Indonesia;                         10. PT Aldiracita Sekuritas Indonesia;
11. PT Mega Capital;                                           11. PT Mega Capital;
12. PT Takjub Teknologi Indonesia (Ajaib);                     12. PT Takjub Teknologi Indonesia (Ajaib);
13. PT NH Korindo Sekuritas Indonesia;                         13. PT NH Korindo Sekuritas Indonesia;
14. PT Bibit Tumbuh Bersama;                                   14. PT Bibit Tumbuh Bersama;
15. PT MNC Sekuritas;                                          15. PT MNC Sekuritas;
16. PT Supermarket Reksa Dana (SMARD);                         16. PT Supermarket Reksa Dana (SMARD);
17. PT Bank BJB;                                               17. PT Bank BJB;
18. PT Philip Sekuritas;                                       18. PT Philip Sekuritas;
19. PT Trust Sekuritas;                                        19. PT Trust Sekuritas;
20. PT Surya Fajar Sekuritas;                                  20. PT Surya Fajar Sekuritas;
21. PT BRI Danareksa Sekuritas;                                21. PT BRI Danareksa Sekuritas;
22. PT Inovasi Finansial Teknologi;                            22. PT Inovasi Finansial Teknologi;
23. PT Womanway Investasi Indonesia; dan                       23. PT Womanway Investasi Indonesia; and
24. PT Xdana Investa Indonesia.                                24. PT Xdana Investa Indonesia.



Produk                                                         Products

Produk yang ditawarkan beserta rincian dana yang dikelola      The products offered by Sinarmas Asset Management and
Sinarmas Asset Management selama tahun 2023 diungkapkan        its related fund throughout 2023 is described as follows.
sebagai berikut


                                            Tanggal Efektif Otoritas Jasa
          Produk Reksa Dana                           Keuangan                         Total Dana (miliar Rupiah)
         Mutual Fund Products               Financial Services Authorities             Total Fund (billion Rupiah)
                                                    Effective Date

 Reksa Dana Pasar Uang
 Money Market Mutual Fund
 Danamas Rupiah                                      10 August 2001                                  15.23
 Danamas Rupiah Plus                                  9 June 2006                                 1,652.84
 Simas Pasar Uang Indonesia                        22 November 2019                                  11.33
 Simas Kas Syariah                                    8 March 2022                                   10.60
 Simas Kas Prima                                    10 January 2023                                  15.34
 Simas Kas Maksima                                    10 July 2023                                   10.03
 Reksa Dana Pendapatan Tetap
 Fixed Income Mutual Fund
 Danamas Dollar1)                                     11 May 2004                                 1,880.55
 Danamas Pasti                                        24 April 2003                                 118.95




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report        109
Page 112
03                  PROFIL PERUSAHAAN
                    Company Profile




                                                              Tanggal Efektif Otoritas Jasa
                Produk Reksa Dana                                       Keuangan                                    Total Dana (miliar Rupiah)
               Mutual Fund Products                           Financial Services Authorities                        Total Fund (billion Rupiah)
                                                                      Effective Date

     Danamas Stabil                                                     24 February 2005                                           16,835.63
     Simas Danamas Instrumen Negara                                   24 September 2007                                               60.48
     Simas Danamas Mantap Plus                                        24 September 2007                                              293.03
     Simas Pendapatan Tetap Prestasi                                   18 November 2016                                               17.88
     Simas Syariah Pendapatan Tetap                                       12 June 2017                                                18.91
     Simas Pendapatan Tetap Andalan                                        13 July 2017                                               75.33
     Pendapatan Tetap Sinarmas Hidup Sejahtera                         4 September 2017                                             1,080.13
     Simas Pendapatan Optima                                          15 September 2022                                             1,432.57
     Simas Pendapatan Berkembang                                        28 February 2023                                              10.37
     RDSPT Simas Oki Pulp & Paper Mills I                                25 August 2023                                              201.55
     Syariah Simas Income Syariah                                      5 September 2023                                               50.20
     Reksa Dana Campuran
     Balanced Mutual Fund
     Danamas Fleksi                                                      28 March 2005                                                41.63
     Simas Satu Prima                                                  18 December 2012                                               27.96
     Simas Syariah Berkembang                                            8 August 2014                                                  6.27
     Simas Satu                                                         15 January 2001                                               60.24
     Simas Balance Prestasi                                             5 February 2018                                               12.48
     Syariah Simas Balance Syariah                                       14 March 2018                                                14.31
     Reksa Dana Saham
     Equity Mutual Fund
     Simas Saham Unggulan                                              18 December 2012                                              660.50
     Simas Syariah Unggulan                                              8 August 2014                                                39.98
     Simas Danamas Saham                                              24 September 2007                                               17.24
     Simas Saham Bertumbuh                                               11 August 2015                                               32.87
     Simas Saham Ultima                                                  31 March 2016                                                35.35
     Simas Saham Maksima                                               2 September 2016                                               84.38
     Simas Dana Ekuitas                                                27 December 2017                                              107.11
     Simas Saham Gemilang                                                 30 April 2018                                              280.20
     Simas Equity Syariah                                              12 December 2018                                               10.70
     Dire Simas Plaza Indonesia                                           21 June 2019                                              9,241.30
     Reksa Dana Indeks
     Index Mutual Fund
     Indeks Simas Sri Kehati                                              14 May 2018                                                 53.68
     Indeks Simas ETF IDX30                                           11 September 2018                                               14.72
     Syariah Indeks Simas ETF JII                                     12 September 2019                                               11.48
     Reksa Dana Terproteksi
     Protected Mutual Fund
     Terproteksi Simas Gemilang 18                                      29 October 2019                                              119.07
     Kontrak Pengelolaan Dana
                                                                                                                                   21,718.26
     Fund Management Contract
     Total                                                                                                                         56,380.68
1)
     Kurs tengah Bank Indonesia per 30 Desember 2023: Rp15.416,-. / Bank Indonesia Middle Rate as of 30 December 2023: Rp15,416.




                    Laporan Tahunan 2023
      110           2023 Annual Report
Page 113
                                                                                         PT SINAR MAS MULTIARTHA TBK




Total dana kelolaan reksa dana dan kontrak pengelolaan                   Total mutual fund and fund management contract as of
dana pada tanggal 31 Desember 2023 sebesar Rp56,38 triliun.              31 December 2023 amounted to Rp56.38 trillion. Sinarmas
Sinarmas Asset Management juga menyediakan beberapa                      Asset Management also provides several programs that
program yang memudahkan nasabah dalam melakukan                          facilitates its customers in doing their investment or mutual
investasi atau bertransaksi reksa dana, yaitu:                           funds transactions, namely:


                                           Simas Investment Plan (Investasi Berkala)
                                          Simas Investment Plan (Regular Investment)



                         Melalui program ini nasabah dapat berinvestasi secara rutin melalui fasilitas auto debet dari beberapa bank. Program
                         ditujukan agar nasabah dapat dengan mudah berinvestasi pada reksa dana untuk perencanaan keuangan di masa
                         mendatang. Bank yang dapat melayani fasilitas auto debet program ini, yaitu Bank Sinarmas, Bank BCA (regular
                          dan internet banking), serta Bank Mandiri.
                         This program allows the customers to make periodic investment through auto debet facility at several banks.
                         The program facilitates the customers to do investment in mutual fund products for their financial planning
                         in the future. Banks that provide this auto debet facility program are Bank Sinarmas, Bank BCA (regular and i
                         nternet banking), as well as Bank Mandiri.




                                              Simas Reksa Dana Online (Simas Fund)




 Simas Fund adalah aplikasi investasi reksa dana dari PT Sinarmas Asset Management yang dapat di download melalui App Store dan Play
 Store. Nasabah secara mandiri dapat bertransaksi reksa dana seperti membeli atau menjual, dan memantau perkembangan investasinya
 melalui fitur saldo dan mutasi dari Simas Fund. Selain itu, Simas Fund juga dapat membantu keputusan investasi. Aplikasi Simas Fund
 menyediakan informasi seputar ekonomi, pasar modal dan grafik kinerja produk reksa dana Sinarmas Asset Management. Benefit lebih di
 investasi Simas Fund rewards adalah StarPoin. Nasabah yang membeli reksa dana melalui Simas Fund akan mendapatkan StarPoin yang
 dapat ditukar sebagai voucher berbelanja di lebih dari 1.000 merchant yang bekerja sama atau ditukar untuk membeli reksa dana.
 Simas Fund is a mutual fund investment application from PT Sinarmas Asset Management that can be downloaded via App Store and
 Play Store. Customers can independently make mutual fund transactions such as buying, selling, and monitoring the growth of their
 investment through Simas Fund balance and movement feature. Simas Fund can also assist with investment decision. Simas Fund
 application provides information about the economy, capital market, and performance charts of Sinarmas Asset Management mutual fund
 products. Extra benefits of investing in Simas Fund is the StarPoin rewards. Customers who buy mutual funds via Simas Fund will receive
 StarPoin that can be exchanged for shopping vouchers in more than 1,000 partnered merchants or exchanged to buy mutual funds.



Pengurus                                                                 Management

Dewan Komisaris                                                          Board of Commissioners
Komisaris                      : Howen Widjaja                           Commissioner             : Howen Widjaja
Komisaris Independen           : Irawan Chandra                          Commissioner Independent : Irawan Chandra


Direksi                                                                  Board of Directors
Diretur Utama                  : Alex Setyawan Widjajakusuma             President Director               : Alex Setyawan Widjajakusuma
Direktur                       : Andreas Hendi Purwadi                   Director                         : Andreas Hendi Purwadi


Dewan Pengawas Syariah Manajer Investasi                                 Investment Manager Sharia Supervisory Board
Ketua                          : Ahmadi bin Sukarno                      Chairman                         : Ahmadi bin Sukarno
Anggota                        : Irfan Syauqi Beik                       Member                           : Irfan Syauqi Beik




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report               111
Page 114
03                  PROFIL PERUSAHAAN
                    Company Profile




Kinerja Keuangan                                                                      Financial Performance
                                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                         Uraian                               2023             2022              2021*)                           Description

     Posisi Keuangan                                                                                                                         Financial Positions
     Aset                                                    748,073          691,866           469,014                                                      Assets
     Liabilitas                                                58,088           57,045            67,887                                                  Liabilities
     Ekuitas                                                 689,985          634,821           401,127                                                       Equity
     Laba Rugi dan Penghasilan Komprehensif                                                                         Profit (Loss) and Other Comprehensive
     Lain                                                                                                                                         Income
     Pendapatan                                              529,685          462,862           318,333                                                     Income
     Beban                                                   198,344          152,643           165,694                                                    Expense
     Laba Sebelum Pajak                                      334,087          326,227           155,096                                          Profit Before Tax
     Beban Pajak Penghasilan                                   69,632           67,667            37,859                                    Income Tax Expenses
     Laba Tahun Berjalan                                     264,455          258,560           117,237                                         Profit for the Year
     Total Penghasilan (Rugi) Komprehensif Lain                   710              134               (95)          Total Other Comprehensive Income (Loss)
     Total Penghasilan Komprehensif                          265,164          258,694           117,142                         Total Comprehensive Income
*)
     Setelah reklasifikasi terkait Peraturan Otoritas Jasa Keuangan No. 20 /POJK.04/2021 dan Surat Edaran Otoritas Jasa Keuangan No. 25/SEOJK.04/2021. / After
     reclassification related to Financial Services Authority Regulation No. 20/POJK.04/2021 and Financial Services Authority Circular Letter No. 25/SEOJK.04/2021.




Peristiwa Penting                                                                     Significant Events




       19 JANUARI / January 2023                                                          15-17 JUNI / June 2023

             Investor Appreciation Night &                                                      Sharia Investment Week 2023
             Market Outlook 2023




                                                                                          26-28 OKTOBER / October 2023

                                                                                                Capital Market Summit & Expo 2023




                    Laporan Tahunan 2023
      112           2023 Annual Report
Page 115
                                                                            PT SINAR MAS MULTIARTHA TBK




Penghargaan dan Sertifikasi                                   Awards and Certifications




                                       Investment Manager Awards 2023
                   Manajer Investasi Terbaik 2023 dari Investortrust.id bekerja sama dengan Infovesta
                   2023 Best Investment Manager from Investortrust.id in collaboration with Infovesta

Kategori:                                                     Category:
• Pendapatan Tetap Rupiah Periode 3 Tahun;                    • Fixed Income Rupiah 3 Years Period;
• Pendapatan Tetap Rupiah Periode 5 Tahun;                    • Fixed Income Rupiah 5 Years Period;
• Pendapatan Tetap USD Periode 1 Tahun;                       • Fixed Income USD 1 Year Period;
• Pendapatan Tetap USD Periode 3 Tahun;                       • Fixed Income USD 3 Years Period;
• Pendapatan Tetap USD Periode 5 Tahun; dan                   • Fixed Income USD 5 Years Period; and
• Reksa Dana Index & ETF Periode 1 Tahun.                     • Index and ETF Mutual Fund 1 Year Period.




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report   113
Page 116
03          PROFIL PERUSAHAAN
            Company Profile




                                   Mutual Fund Best Performance Award 2023
                                           Edvisor.id dan CNBC Indonesia
                                           Edvisor.id and CNBC Indonesia

Reksa Dana Pendapatan Tetap                                 Fixed Income Mutual Fund
• Reksa Dana Danamas Dollar;                                • Reksa Dana Danamas Dollar;
• Reksa Dana Danamas Pasti;                                 • Reksa Dana Danamas Pasti;
• Reksa Dana Simas Pendapatan Tetap Prestasi; dan           • Reksa Dana Simas Pendapatan Tetap Prestasi; and
• Reksa Dana Simas Pendapatan Tetap Andalan.                • Reksa Dana Simas Pendapatan Tetap Andalan.

Reksa Dana Campuran                                         Mixed Mutual Fund
• Reksa Dana Simas Balance Prestasi; dan                    • Reksa Dana Simas Balance Prestasi; and
• Reksa Dana Simas Balance Syariah.                         • Reksa Dana Simas Balance Syariah.




            Laporan Tahunan 2023
  114       2023 Annual Report
Page 117
                                                                           PT SINAR MAS MULTIARTHA TBK




                                        Best Mutual Fund Awards 2023
                          Infovesta Utama bekerja sama dengan Majalah Investor B-Universe
                          Infovesta Utama in collaboration with Investor B-Universe Magazine

Reksa Dana Pendapatan Tetap                                  Fixed Income Mutual Fund
• Reksa Dana Danamas Pasti;                                  • Reksa Dana Danamas Pasti;
• Reksa Dana Simas Pendapatan Tetap Andalan; dan / atau      • Reksa Dana Simas Pendapatan Tetap Andalan; and
• Reksa Dana Danamas Dollar.                                 • Reksa Dana Danamas Dollar.




                                                                                    Laporan Tahunan 2023
                                                                                       2023 Annual Report   115
Page 118
03       PROFIL PERUSAHAAN
         Company Profile




PT Sinar Mas Multifinance




Kantor Pusat                    Profil Perusahaan
Head Office                     Company Profile

                                PT Sinar Mas Multifinance didirikan 7 September 1985 dengan nama PT
 Jl. Lombok No. 71              Sinar Supra Leasing Company. Perusahaan melakukan perubahan nama
 Jakarta 10350                  menjadi PT Sinar Mas Multifinance setelah diakuisisi PT Sinar Mas Multiartha
   (021) 3190 2888              pada 2 Februari 1996. Berdasarkan Anggaran Dasar, maksud dan tujuan
   (021) 3190 3589              Perusahaan adalah berusaha dalam bidang lembaga pembiayaan berupa
   cs@simasfnance.co.id         sewa guna usaha, anjak piutang, dan pembiayaan konsumen. Hingga akhir
   www.simasfinance.co.id       tahun 2023, Perusahaan telah memiliki 110 kantor cabang, 280 outlet, serta
                                didukung oleh 2.677 karyawan yang andal dan kompeten.


                                Dalam rangka memperluas portofolio bisnis di tahun 2023, Perseroan
                                mengembangkan jenis usaha Haji Khusus. Langkah ini diambil sebagai
                                tanggapan terhadap meningkatnya permintaan layanan pembiayaan untuk


                                PT Sinar Mas Multifinance was established on 7 September 1985
                                under the name of PT Sinar Supra Leasing Company. The Company
                                changed its name to PT Sinar Mas Multifinance after it was acquired by
                                PT Sinar Mas Multiartha on 2 February 1996. Based on the Articles of
                                Association, the purpose and objective of the Company are to engage
                                in financing such as leasing, factoring, and consumer financing. Until
                                the end of 2023, the Company has 110 branch offices, 280 outlets,
                                and backed by 2,677 reliable and competent employees.


                                In expanding its business portfolio in 2023, the Company is developing
                                a Special Hajj business line. This measure was taken as a response to the
                                increasing demand of financing services for Hajj pilgrimage. By involving




         Laporan Tahunan 2023
 116     2023 Annual Report
Page 119
                                                                            PT SINAR MAS MULTIARTHA TBK




perjalanan ibadah haji. Dengan melibatkan mitra dan lembaga   partners and related institutions, the Company is committed
terkait, Perusahaan berkomitmen untuk menyediakan solusi      to provide financial solutions to meet the needs of people
keuangan yang dapat memenuhi kebutuhan masyarakat             who plan to carry out Hajj pilgrimage with faster waiting
yang berencana untuk melaksanakan ibadah haji dengan          period. The Company is hoping to give positive contribution
masa tunggu yang lebih cepat. Perusahaan berharap dapat       in supporting the dream of Hajj pilgrim to fulfil the religious
memberikan kontribusi positif dalam mendukung impian          obligation, while providing comprehensive and reliable
jamaah haji untuk menunaikan kewajiban agama, sambil          financial services.
tetap memberikan layanan keuangan yang komprehensif
dan terpercaya.


Selain itu, Perseroan meluncurkan aplikasi GARASI Dealer      In addition, the Company launched GARASI Dealer
untuk memberikan solusi terintegrasi bagi dealer mitra        application as an integrated solution for partner dealers and
dan calon pembeli di sektor pembiayaan jual beli mobil        prospective buyers in the financing sector of used car buying
bekas dengan beragam fitur seperti penyesuaian harga,         and selling, offering many features such as price adjustments,
pemantauan status aplikasi secara real-time, persetujuan      real-time application status monitoring, instant loan
pinjaman instan, perhitungan kredit online, dan pengelolaan   approval, online credit calculation, and digital documents
dokumen digital.                                              management.


Ke depannya, Manajemen terus melakukan strategi dan inovasi   In the future, the Management will keep on strategizing
serta meningkatkan keahlian sumber daya manusia dalam         and innovating to improve human resources’ expertise
meningkatkan produktivitas penagihan melalui pemberian        in increasing billing productivity via provision of
pelatihan serta mengevaluasi penanganan pembiayaan            trainings as well as evaluating the handling of any
yang bermasalah.                                              troubled financing



Produk                                                        Products

Berdasarkan Anggaran Dasar, produk yang ditawarkan            Based on the Article of Association, products offered by the
Perusahaan terbagi ke dalam beberapa kategori berikut.        Company can be divided into the following category.
1. Pembiayaan Multiguna                                       1. Multi-purpose Financing
   a. Pembiayaan untuk pembelian kendaraan roda empat,           a. Financing to buy cars, either used or new, by paying
       baik bekas maupun baru, dengan pembayaran secara              in instalments.
       angsuran.
   b. Fasilitas dana dengan agunan Buku Kepemilikan              b. Funding facilities by using the Vehicle Ownership
       Kendaraan Bermotor (BPKB).                                    Document (BPKB) as collateral.
2. Pembiayaan Modal Kerja                                     2. Working Capital Financing
   Anjak piutang dengan pemberian jaminan dari pemberi           Recourse factoring, it is an agreement between the client
   penjual piutang (factoring with recourse).                    and the factor in which the client is required to buy the
                                                                 unpaid bills receivable from the factor.
3. Pembiayaan Investasi                                       3. Investment Financing
   Pembiayaan investasi dengan skema sewa pembiayaan.            Investment financing with finance lease scheme.
4. Pembiayaan Syariah                                         4. Sharia Financing
   Pembiayaan jasa syariah yang ditujukan untuk                  Sharia financing service intended to finance Hajj
   pembiayaan perjalanan ibadah haji dan kendaraan               pilgrimage and cars, particularly in Aceh Province.
   roda empat, khususnya Provinsi Aceh.



Pengurus                                                      Management

Dewan Komisaris                                               Board of Commissioners
Komisaris Utama             : Indra Widjaja                   President Commissioner   : Indra Widjaja
Komisaris                   : Loa Johny Mailoa                Commissioner             : Loa Johny Mailoa
Komisaris Independen        : Mulabasa Hutabarat              Independent Commissioner : Mulabasa Hutabarat
Komisaris Independen        : Eko Nugroho Tjahjadi            Independent Commissioner : Eko Nugroho Tjahjadi




                                                                                      Laporan Tahunan 2023
                                                                                         2023 Annual Report           117
Page 120
03             PROFIL PERUSAHAAN
               Company Profile




Direksi                                                                   Board of Directors
Direktur Utama                  : Rosalina Dhanudimuljo                   President Director                    : Rosalina Dhanudimuljo
Direktur                        : Henry Ricardo Liasnawi                  Director                              : Henry Ricardo Liasnawi
Direktur                        : Ricky Faerus                            Director                              : Ricky Faerus
Direktur                        : Irawan Susatya L                        Director                              : Irawan Susatya L
Direktur                        : Robby Tricahyo Wibowo                   Independent Director                  : Robby Tricahyo Wibowo



Kinerja Keuangan                                                          Financial Performance

                                                               (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                      Uraian                       2023           2022              2021                             Description

 Posisi Keuangan Konsolidasian                                                                                 Consolidated Financial Positions
 Aset                                            6.436.265      6,652,625         7,122,851                                                     Assets
 Liabilitas                                      5.129.639      5,326,732         5,560,173                                                  Liabilities
 Ekuitas                                         1.306.626      1,325,893         1,562,678                                                      Equity
 Laba Rugi dan Penghasilan Komprehensif                                                                     Consolidated Profit Loss and Other
 Lain Konsolidasian                                                                                                    Comprehensive Income
 Total Pendapatan                                3,370,313      1,965,240         2,637,263                                              Total Income
 Total Beban                                     3,728,912      2,157,393         2,484,694                                           Total Expenses
 (Rugi) Laba Sebelum Pajak                       (358,599)      (192,153)           152,569                                  (Loss) Profit Before Tax
 Laba (Rugi) Bersih                              (349,065)      (238,625)           128,725                                          Net Profit (Loss)
 Total Penghasilan (Rugi) Komprehensif Lain       (30,202)             1,840           2,887          Total Other Comprehensive Income (Loss)
 Total Penghasilan (Rugi) Komprehensif           (379,267)      (236,785)           131,612                Total Comprehensive Income (Loss)




Aksi Korporasi                                                            Corporate Action

                                       Perubahan Struktur Anggota Direksi dan Komisaris
                      Change of Structure of Member of the Board of Directors and Board of Commissioners

 30 Januari 2023                                                        30 January 2023
 Pengunduran diri Hawanto Hartono selaku Direktur Utama PT Sinar        Resignation of Hawanto Hartono as President Director of PT Sinar
 Mas Multifinance dan Pengangkatan Rosalina Dhanudimuljo                Mas Multifinance and appointment of Rosalina Dhanudimuljo
 selaku Direktur Utama PT Sinar Mas Multifinance berlaku efektif        as President Director of PT Sinar Mas Multifinance is effective
 berdasarkan Akta RUPS Luar Biasa No. 2458 tanggal 30 Januari 2023      based on Deed of Extraordinary GMS No. 2458 dated 30 January
 dan Surat Keputusan Otoritas Jasa Keuangan tentang Penetapan           2023 and Financial Services Authority Decree on Establishment
 Hasil Penilaian Kemampuan dan Kepatutan dan dinyatakan lulus           of Fit and Proper Assessment Result and declared to as passed
 Np. KEP - 127/NB.02/2023 tanggal 5 April 2023.                         Np. KEP - 127/NB.02/2023 dated 5 April 2023.



                                                   Penerbitan Efek Bersifat Utang
                                                    Settlement of Debt Securities

 7 Februari 2023                                                        7 February 2023
 Menerbitkan Obligasi Berkelanjutan III Sinar Mas Multifinance Tahap    Issuance of Sinar Mas Multifinance Sustainable Bond III Phase I Year
 I Tahun 2023 yang terdiri dari 3 seri, yakni:                          2023 which consists of 3 series:
 • Seri A dengan nilai emisi sebesar Rp42,7 miliar, tingkat bunga       • Series A with face value of Rp42.7 billion, 7.50% interest rate,
    7,50%, tenor 1 tahun;                                                  1 year tenor;
 • Seri B dengan nilai emisi sebesar Rp851,8 miliar, tingkat bunga      • Series B with face value of Rp851.8 billion, 10.25% interest rate,
    10,25%, tenor 3 tahun; serta                                           3 years tenor; and
 • Seri C dengan nilai emisi sebesar Rp105,5 miliar, tingkat bunga      • Series C with face value of Rp105.5 billion, 10.75% interest rate,
    10,75%, tenor 5 tahun.                                                 5 years tenor.




               Laporan Tahunan 2023
  118          2023 Annual Report
Page 121
                                                                                         PT SINAR MAS MULTIARTHA TBK




                                                  Penerbitan Efek Bersifat Utang
                                                   Settlement of Debt Securities

11 Oktober 2023                                                        11 October 2023
Menerbitkan Obligasi Berkelanjutan III Sinar Mas Multifinance Tahap    Issuance of Sinar Mas Multifinance Sustainable Bond III Phase II Year
II Tahun 2023 yang terdiri dari 2 seri, yakni:                         2023 which consists of 2 series:
• Seri A dengan nilai emisi sebesar Rp575 miliar, tingkat bunga        • Series A with face value of Rp575 billion, 10.00% interest rate,
    10,00%, tenor 3 tahun; serta                                          3 years tenor; and
• Seri B dengan nilai emisi sebesar Rp425 miliar, tingkat bunga        • Series B with face value of Rp425 billion, 10.50% interest rate,
    10,50%, tenor 5 tahun.                                                5 years tenor.



                                                   Pelunasan Efek Bersifat Utang
                                                   Settlement of Debt Securities

8 Februari 2023                                                        8 February 2023
Melunasi Obligasi Berkelanjutan II Sinarmas Multifinance Tahap III     Settlement of Sinarmas Multifinance Sustainable Bond II Phase III
Seri A Tahun 2022 Sebesar Rp317,7 miliar.                              Series A Year 2022 of Rp317.7 billion.
12 Februari 2023                                                       12 February 2023
Melunasi Obligasi Berkelanjutan I Sinarmas Multifinance Tahap IV       Settlement of Sinarmas Multifinance Sustainable Bond I Phase IV
Seri B Tahun 2020 Sebesar Rp250 miliar.                                Series B Year 2020 of Rp250 billion.
11 Juli 2023                                                           11 July 2023
Melunasi Obligasi Berkelanjutan I Sinarmas Multifinance Tahap I Seri   Settlement of Sinarmas Multifinance Sustainable Bond I Phase I
C Tahun 2018 Sebesar Rp220 miliar.                                     Series C Year 2018 of Rp220 billion.



                                                         Penambahan Modal
                                                          Additional Capital

7 November 2023                                                        7 November 2023
Menambah modal disetor, dari semula Rp1.190.000.000,- menjadi          Added paid-in capital, from Rp1,190,000,000 to Rp. 1,550,000,000,000,-
Rp1.550.000.000.000,- berdasarkan Akta RUPS Luar Biasa No. 336         based on Deed of Extraordinary GMS No. 336 dated 7 November
tanggal 7 November 2023.                                               2023.



Peristiwa Penting                                                       Significant Events
                                                                                Memberikan program “Reward” Triwulan berupa uang
                                                                                tunai kepada seluruh Associate Partner dan Business
                                                                                Partner yang memberikan kontribusi dan mencapai
                                                                                target penjualan.


                                                                                Pada 17-20 Agustus 2023, program reward diberikan
                                                                                dalam bentuk paket tur ke Thailand. Sementara pada
                                                                                Desember 2023, program reward akhir tahun diberikan
                                                                                dalam bentuk barang elektronik, kendaraan bermotor,
                                                                                uang tunai, dan tur.

                                                                                Provision of quarterly “Reward” program in the form of cash
                                                                                to all Associate Partners and Business Partners who have
                                                                                contributed and achieved sales targets.
  JANUARI, APRIL, JULI, AGUSTUS,
  OKTOBER, DAN DESEMBER /                                                       On 17-20 August 2023, the reward program was provided
  January, April, July, August, October, and                                    in the form of a tour package to Thailand. While, in
  December 2023                                                                 December 2023, the end-of-year reward program was
                                                                                provided in the form of electronic goods, motorized
                                                                                vehicles, cash and tours.



 16 JUNI / June 2023

      Menyelenggarakan RUPS Tahunan.
      Held the Annual GMS.




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report              119
Page 122
03      PROFIL PERUSAHAAN
        Company Profile




8 DESEMBER / December 2023                                8-10 DESEMBER / December 2023

  Meluncurkan GARASI Apps, sesuai dengan komitmen           Menyelenggarakan Dealer Gathering Tahun 2023 di Pulau
  Perusahaan untuk memberikan pengalaman yang lebih         Pari kepulauan Seribu, DKI Jakarta untuk merayakan
  baik dan cepat kepada semua dealer rekanan dan calon      pencapaian dan menghadirkan momen kebersamaan
  pembeli dalam proses pengajuan kredit jual beli mobil     kepada semua dealer dan partner yang berkontribusi
  bekas. Melalui GARASI Apps, dealer rekanan dapat          baik di tahun 2023.
  mengajukan aplikasi kredit end to end secara digital.     Held the 2023 Dealer Gathering on Pari Island, Thousand
  GARASI Apps launching, in line with Company’s             Islands, DKI Jakarta to celebrate the achievements
  commitment to provide better and faster experience        and togetherness moment for all dealers and partners
  to all partner dealers and prospective buyers in the      who have contributed well in 2023.
  credit application process for buying and selling
  used cars. Using GARASI Apps, partner dealers
  can submit end-to-end credit applications digitally.




        Laporan Tahunan 2023
120     2023 Annual Report
Page 123
                                                            PT SINAR MAS MULTIARTHA TBK




PT AB Sinar Mas Multifinance




Kantor Pusat                   Profil Perusahaan
Head Office                    Company Profile

                               PT AB Sinar Mas Multifinance merupakan Entitas Anak PT Sinar Mas
 Menara Tekno Lt. 7            Multiartha Tbk yang bergerak dalam bidang pembiayaan, terutama dalam
 Jl. Fachruddin No. 19         bidang sewa guna usaha dan anjak piutang dengan segmen pasar nasabah
 Jakarta Pusat 10250           korporasi. AB Sinar Mas Multifinance secara konsisten melakukan berbagai
                               pengembangan usaha dan menyusun berbagai strategi usaha, khususnya
   (021) 392 5660
                               dalam menghadapi persaingan di industri pembiayaan di tengah kemajuan
   (021) 392 5788
                               teknologi, salah satunya melalui strategi cross selling, yaitu melakukan
   corporate@absimasfinance.
                               penjualan antar perusahaan dalam satu grup usaha Sinar Mas. Melalui
   co.id
                               dukungan dan kerja keras 20 karyawan, AB Sinar Mas Multifinance terus
   www.absimasfinance.co.id
                               tumbuh positif dan dapat menciptakan kenaikan pendapatan usaha.


                               PT AB Sinar Mas Multifinance is the Subsidiary of PT Sinar Mas Multiartha
                               Tbk that operates in financing, particularly leasing and factoring with the
                               corporate customer as its market segment. AB Sinar Mas Multifinance
                               consistently carries out various business development and sets up various
                               business strategies, mainly to face competition in the financing industry
                               amid the advancement of technology, one of which through the cross-selling
                               strategy, by having sales among companies within Sinar Mas business group.
                               With the support and hard work of 20 employees, AB Sinar Mas Multifinance
                               continues its positive growth and able to increase its operating income.




                                                                     Laporan Tahunan 2023
                                                                        2023 Annual Report         121
Page 124
03             PROFIL PERUSAHAAN
               Company Profile




Produk                                                                Products

AB Sinar Mas Multifinance menyediakan beberapa produk                 Outlined below is the list of products AB Sinar Mas
yang dibutuhkan nasabah korporasi, yaitu:                             Multifinance offers to its corporate customers:
1. Pembiayaan Multiguna                                               1. Multi-purpose Financing
   a. Pembiayaan untuk pembelian kendaraan roda empat,                   a. Financing to buy cars, either used or new, by paying
       baik bekas maupun baru, dengan pembayaran secara                       in instalments.
       angsuran.
   b. Fasilitas dana dengan agunan Buku Kepemilikan                      b. Funding facilities by using the Vehicle Ownership
       Kendaraan Bermotor (BPKB).                                            Document (BPKB) as collateral.
2. Pembiayaan Modal Kerja                                             2. Working Capital Financing
   Anjak piutang dengan pemberian jaminan dari pemberi                   Recourse factoring, it is an agreement between the client
   penjual piutang (factoring with recourse).                            and the factor in which the client is required to buy the
                                                                         unpaid bills receivable from the factor.
3. Pembiayaan Investasi                                               3. Investment Financing
   Pembiayaan investasi dengan skema sewa pembiayaan.                    Investment financing with finance lease scheme.
4. Pembiayaan Syariah                                                 4. Sharia Financing
   Pembiayaan jasa syariah yang ditujukan untuk pembiayaan               Sharia financing service intended to finance Hajj pilgrimage
   perjalanan ibadah haji dan kendaraan roda empat.                      and cars.



Pengurus                                                              Management

Dewan Komisaris                                                       Board of Commissioners
Komisaris Utama                : Indra Widjaja                        President Commissioner   : Indra Widjaja
Komisaris                      : Felix                                Commissioner             : Felix
Komisaris Independen           : Herry Hermana S                      Independent Commissioner : Herry Hermana S


Direksi                                                               Board of Directors
Direktur Utama                 : Edy Tjandra                          Director                               : Edy Tjandra
Direktur                       : Peter                                Director                               : Peter



Kinerja Keuangan                                                      Financial Performance
                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                    Uraian                      2023           2022              2021                             Description

 Posisi Keuangan                                                                                                             Financial Positions
 Aset                                          1,491,529     2,428,175         1,729,342                                                     Assets
 Liabilitas                                     880,755      1,842,223         1,199,296                                                  Liabilities
 Ekuitas                                        610,774        585,952           530,046                                                      Equity
 Laba Rugi dan Penghasilan Komprehensif                                                              Profit Loss and Other Comprehensive
 Lain                                                                                                                            Income
 Total Pendapatan                               228,189        230,631           163,374                                              Total Income
 Total Beban                                    195,051        158,217           104,836                                            Total Expense
 Laba Sebelum Pajak                                33,138       72,414             58,538                                        Profit Before Tax
 Laba Tahun Berjalan                               25,043       61,762             48,987                                       Profit for the Year
 Total Penghasilan (Rugi) Komprehensif Lain         (221)       (5,857)            12,309          Total Other Comprehensive Income (Loss)
 Total Penghasilan Komprehensif                    24,822       55,905             61,296                       Total Comprehensive Income




               Laporan Tahunan 2023
  122          2023 Annual Report
Page 125
                                                                                  PT SINAR MAS MULTIARTHA TBK




Peristiwa Penting                                                  Significant Events




 13-15 OKTOBER / October 2023

    Berpartisipasi dalam acara edukasi dan literasi keuangan yang diadakan oleh Asosiasi Perusahaan Pembiayaan Indonesia di
    Palembang Indah Mall.
    Participated in financial education and literacy event held by Indonesian Finance Companies Association at Palembang Indah Mall.




                                                                                            Laporan Tahunan 2023
                                                                                               2023 Annual Report          123
Page 126
03        PROFIL PERUSAHAAN
          Company Profile




PT Pasar Dana Pinjaman




Kantor Pusat                     Profil Perusahaan
Head Office                      Company Profile

                                 PT Pasar Dana Pinjaman (Danamas) berdiri sejak tahun 2000 dengan nama
 Menara Tekno Lt. 7              PT Komunindo Arga Digital. Kegiatan usaha Danamas adalah memberikan
 Jl. Fachruddin No. 19           solusi pembiayaan dengan mempertemukan pembeli dan penerima
 Jakarta Pusat 10250             pinjaman secara langsung dengan melalui sistem online, dengan pangsa
                                 pasar utama para pelaku usaha kecil. Selain itu, kegiatan usaha dikelola
   (021) 392 5660, 5695 4588
                                 para profesional yang memiliki latar belakang industri keuangan/perbankan
   (021) 392 5788
                                 sehingga menjadikan Danamas sebagai salah satu fintech yang dapat
   cs@danamas.co.id
                                 dipercaya.
   www.danamas.co.id
                                 Hingga akhir tahun 2023, Danamas didukung oleh 60 karyawan yang unggul
                                 dan kompeten. Selain itu, Danamas memiliki 22 kantor cabang yang tersebar
                                 di seluruh wilayah Indonesia.


                                 PT Pasar Dana Pinjaman (Danamas) was established in 2000 under the name
                                 of PT Komunindo Arga Digital. Danamas provides financing solution that brings
                                 together lender and borrower via online system, with small business players
                                 as its main market share. In addition, its business activities are managed by
                                 professionals with financial/ banking industry backgrounds that bring Danamas
                                 as one of the trusted fintech.


                                 Until the end of 2023, Danamas is supported by 60 superior and competent
                                 employees. In addition, Danamas has 22 branch offices spread throughout
                                 Indonesia.




          Laporan Tahunan 2023
 124      2023 Annual Report
Page 127
                                                                                                     PT SINAR MAS MULTIARTHA TBK




Dalam rangka pengembangan bisnis, selama tahun 2023,                            In an effort to develop its business, throughout 2023,
Danamas mengembangkan produk referral kredit perumahan                          Danamas has been developing Home Loan (KPR) referral
rakyat (KPR). Terkait hal ini, Danamas aktif mencari peluang kerja              product. Related to this, Danamas is actively seeking
sama dengan beberapa developer properti serta melakukan                         collaboration opportunities with several property developers
eksplorasi kerja sama dengan Bank Sinarmas. Danamas                             and is exploring potential to collaborate with Bank Sinarmas.
juga merilis produk Supply Chain Financing dan melakukan                        Danamas also released Supply Chain Financing products
sosialisasi kepada mitra bouwheer untuk memberikan layanan                      and conducted dissemination to bouwheer (project owner)
pembiayaan financing yang cepat.                                                partners to provide fast financing services.



Produk                                                                          Products

Produk dan jasa Danamas adalah mempertemukan pemberi                            Danamas provide products and services that bring
dan penerima pinjaman secara online/layanan pinjam                              together lender and borrower via online/information
meminjam uang berbasis teknologi informasi. Produk                              technology-based money lending services. Danamas
Danamas, meliputi:                                                              products is:



                                                   Pinjaman kepada para pelaku usaha mikro kecil (UMKM), yaitu pembudidaya ikan untuk
     Perikanan                                     keperluan pembelian pakan ikan dan peralatan pendukung usaha.
     Fisheries                                     Loan extended to micros small (MSMEs) business actors, which are fish cultivator to buy fish
                                                   feed and business supporting equipment


                                                   Pinjaman dalam bentuk pengalihan piutang (subrogasi) terhadap peminjam yang diakui
                                                   kepada para pemberi pinjaman melalui aplikasi Danamas.
     Multifinance
                                                   Loan in the form of transfer of receivables (subrogation) to recognized borrowers to lenders
                                                   via Danamas application.




     Pinjaman Logistik                             Pemberian pinjaman atas fasilitas cash on delivery (COD) dan ongkos kirim oleh perusahaan logistik.
     Logistics Loan                                Loan provision on cash on delivery (COD) facility and shipping cost by logistics company.




                                                   Pinjaman untuk tagihan yang akan jatuh tempo kepada perusahaan ternama yang telah
     Pinjaman dengan Jaminan Tagihan               melakukan kerja sama dengan Danamas.
     Loan with Invoice Collateral
                                                   Loans for invoice that is due to well-known companies that have cooperated with Danamas.



                                                   Pembiayaan terhadap para peminjam dengan jumlah tertentu yang besaran maksimal
                                                   pembiayaan ditentukan oleh nilai agunan yang digunakan sebagai jaminan.
     Business Loan
                                                   Financing extended to borrowers of certain amount, of which the maximum financing amount
                                                   is set by the value of the collateral used.




Pengurus                                                                        Management

Dewan Komisaris                                                                 Board of Commissioners
Komisaris Utama           : Indra Widjaja                                       President Commissioner                   : Indra Widjaja
Komisaris                 : Dani Lihardja                                       Commissioner                             : Dani Lihardja


Direksi                                                                         Board of Directors
Direktur Utama            : Magdalena Joyce Andries*)                           President Director                       : Magdalena Joyce Andries*)
Direktur                  : Budiyanto Suteno                                    Director                                 : Budiyanto Suteno

*)
     Efektif mengundurkan diri sebagai Direktur Utama terhitung sejak RUPS      *)
                                                                                     Effectively resigning as President Director since the closing of 2024 Annual
     Tahunan 2024.                                                                   GMS.




                                                                                                                 Laporan Tahunan 2023
                                                                                                                    2023 Annual Report                 125
Page 128
03            PROFIL PERUSAHAAN
              Company Profile




Kinerja Keuangan                                                    Financial Performance
                                                          (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                   Uraian                     2023           2022              2021                             Description

Posisi Keuangan                                                                                                            Financial Positions
Aset                                          623,201        710,222           732,926                                                     Assets
Liabilitas                                      26,585        16,040              9,579                                                 Liabilities
Ekuitas                                       596,616        694,182           723,347                                                      Equity
Laba (Rugi) dan Penghasilan Komprehensif                                                          Profit (Loss) and Other Comprehensive
Lain                                                                                                                            Income
Pendapatan Usaha                                 6,001          8,335             4,153                                       Operating Income
Beban Usaha                                     89,936       106,265             46,033                                     Operating Expense
Laba (Rugi) Sebelum Pajak                    (113,983)       (45,078)               819                                 Profit (Loss) Before Tax
Laba (Rugi) Tahun Berjalan                    (97,633)       (28,844)               819                               Profit (Loss) for the Year
Total Rugi Komprehensif Lain                       67           (321)              (245)                    Total Other Comprehensive Loss
Total Penghasilan (Rugi) Komprehensif           97,566       (29,165)               574               Total Comprehensive Income (Loss)



                   Uraian                     2023           2022              2021                             Description

Jumlah Pinjaman Terealisasi (Loan)           81,848,400   81,815,490         76,919,448                             Realized Total Loan (Loan)
Nilai Pinjaman Terealisasi (miliar Rupiah)      11,514         11,295              6,565              Realized Loan Value (in billion Rupiah)
Jumlah Pinjaman Lunas (Loan)                 59,317,509   59,283,577         49,884,502                               Total Loan Settled (Loan)
Nilai Pinjaman Lunas (miliar Rupiah)            11,157         10,752              6,257         Total Loan Settled Value (in billion Rupiah)
Pemodal Terdaftar (Akun)                       359,552        339,695           270,514                          Registered Investor (Account
Rata-Rata Return Pemodal (per Tahun) (%)          10.92          38.30             11.86              Investor Average Return (per Year) (%)




Peristiwa Penting                                                   Significant Events

  29 AGUSTUS / August 2023

       • PT Digital Solusindo Nusantara menjadi Pemegang Saham           • PT Digital Solusindo Nusantara becomes Minority
         Minoritas Danamas.                                                Shareholder of Danamas.
       • Pengalihan saham Itochu kepada Perseroan serta                  • Transfer of Itochu shares to the Company and change to
         perubahan susunan Dewan Komisaris dan Direksi                     composition of Danamas’ Board of Commissioners and
         Danamas.                                                          Board of Directors.




              Laporan Tahunan 2023
 126          2023 Annual Report
Page 129
                                                             PT SINAR MAS MULTIARTHA TBK




PT Sinar Mas Ventura




Kantor Pusat                   Profil Perusahaan
Head Office                    Company Profile

                               PT Sinar Mas Ventura (Sinarmas Ventura) merupakan salah satu perusahaan
 Roxy Square Lt. 1 Blok B 08   modal ventura di Indonesia yang berdiri sejak tahun 2018 dan mulai
 No. 1                         beroperasi sejak tahun 2019. Kegiatan usaha yang dilakukan PT Sinar Mas
 Jl. Kyai Tapa No. 1           Ventura berupa penyertaan saham, penyertaan melalui pembelian obligasi
 Tomang, Grogol Petamburan     konversi, dan pembiayaan.
 Jakarta Barat 11440
                               Sinarmas Ventura mempunyai visi untuk menjadi perusahaan modal ventura
   (021) 5695 4451
                               yang terpercaya dan berkompeten, dengan misi untuk menyediakan solusi
   (021) 5695 452
                               tepat melalui jasa usaha modal ventura. Saat ini, Sinar Mas Ventura memiliki
   cs@sinarmasventura.com
                               14 karyawan (termasuk Dewan Komisaris dan Direksi) yang memiliki latar
   www.sinarmasventura.com
                               belakang di bidang perbankan/keuangan sehingga diharapkan dapat
                               membantu Perusahaan dalam mewujudkan visi dan misi.


                               PT Sinar Mas Ventura (Sinarmas Ventura) is one of venture capital companies
                               in Indonesia established since 2018 and started its operation since 2019.
                               Business activities performed by PT Sinar Mas Venture including participation
                               of shares, participation through purchasing convertible bonds, and financing.


                               Sinarmas Ventura has a vision to become reliable and competent venture
                               capital company, and a mission to provide appropriate solution through
                               venture capital business services. Currently, Sinar Mas Ventura has 14
                               employees (including the Board of Commissioners and Board of Directors)
                               with background in banking/ finance sector so it is expected that they can
                               help the Company in realizing its vision and mission.




                                                                       Laporan Tahunan 2023
                                                                          2023 Annual Report        127
Page 130
03             PROFIL PERUSAHAAN
               Company Profile




Produk                                                                        Products

                        Penyertaan Saham                                       Penyertaan melalui Pembelian Obligasi Konversi
                      Participation of Shares                                Participation through Purchasing of Convertible Bonds

 Kegiatan usaha modal ventura melalui pembelian saham dari                  Kegiatan usaha modal ventura melalui pembelian obligasi konversi
 pasangan usaha.                                                            yang diterbitkan oleh pasangan usaha.
 Business activity of venture capital through purchase of shares from its   Business activity of venture capital through purchasing of convertible
 business partners.                                                         bonds issued by its business partners.




Pengurus                                                                      Management

Dewan Komisaris                                                               Board of Commissioners
Komisaris Utama       : Dani Lihardja                                         President Commissioner                : Dani Lihardja
Komisaris             : Agus Leman Gunawan                                    Commissioner                          : Agus Leman Gunawan


Direksi                                                                       Board of Directors
Direktur Utama        : Fatman Yunus                                          President Director                    : Fatman Yunus
Direktur              : Ontario Soenarno                                      Director                              : Ontario Soenarno



Kinerja Keuangan                                                              Financial Performance
                                                                   (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                    Uraian                            2023             2022             2021                             Description

 Posisi Keuangan                                                                                                                    Financial Positions
 Aset                                                  42,875          45,483            44,576                                                     Assets
 Liabilitas                                               305               521             812                                                  Liabilities
 Ekuitas                                               42,569          44,962            43,764                                                      Equity
 Laba (Rugi) dan Penghasilan                                                                               Profit (Loss) and Other Comprehensive
 Komprehensif Lain                                                                                                                       Income
 Total Pendapatan                                       2,486           2,692             3,711                                              Total Income
 Beban                                                  6,277           4,193            13,329                                                   Expense
 Laba Rugi Sebelum Pajak                              (3,791)          (1,501)           (9,617)                                  Profit Loss Before Tax
 Laba Rugi Tahun Berjalan                             (3,066)          (1,074)           (7,459)                                 Profit Loss for the Year
 Total Penghasilan Komprehensif Lain                      673           2,273               580                   Total Other Comprehensive Income
 Total Laba (Rugi) Komprehensif                       (2,393)           1,198           (6,878)                Total Comprehensive Income (Loss)




               Laporan Tahunan 2023
  128          2023 Annual Report
Page 131
                                                                PT SINAR MAS MULTIARTHA TBK




PT Bank Nano Syariah




Kantor Pusat                     Profil Perusahaan
Head Office                      Company Profile

                                 PT Bank Nano Syariah (Nanobank Syariah) merupakan Bank Umum Syariah
 Sinar Mas Land Plaza            yang didirikan dari hasil pemisahan (spin off) Unit Usaha Syariah PT Bank
 Jl. Teuku Cik Ditiro No. 29     Sinarmas Tbk dan resmi beroperasi pada tanggal 1 Januari 2024. Nanobank
 Menteng                         Syariah berkomitmen untuk membangun fondasi berdasarkan prinsip
 Jakarta Pusat 10310             perbankan syariah yang berfokus pada solusi keuangan syariah yang inovatif
                                 dan modern guna memberdayakan nasabah individu dan komunitas,
   (021) 392 3329
                                 membantu mereka mencapai impian finansial, sembari berbagi kebaikan
   150 0153 (Aira Care)          menjadi langkah awal Nanobank Syariah melayani masyarakat.
   08826 1500 153
   corporate.secretary@          Didasari dengan perubahan signifikan, di mana proses transaksi perbankan
   nanobanksyariah.id            berubah dari konvensional menjadi digital, dan transaksi sudah banyak
   airacare@nanobanksyariah.id   dilakukan melalui mobile banking, Nanobank Syariah menjadi inisiator dalam
   www.nanobanksyariah.id
                                 PT Bank Nano Syariah (Nanobank Syariah) is a Sharia Commercial Bank
 Media Sosial                    which was established as a result of spin-off from Sharia Business Unit
 Social Media                    of PT Bank Sinarmas Tbk and officially started its operation on 1 January
                                 2024. Nanobank Syariah is committed to build their foundation on sharia
   Nanobank Syariah
                                 banking principles that focus on innovative and modern sharia financial
   @nanobankid
                                 solutions to empower both the individual customers and communities, to
   @nanobanksyariah
                                 assist them in achieving their financial dreams, while sharing kindness will be
   Nanobank Syariah
                                 the first step for Nanobank Syariah to serve the communities.
   @nanobank_syariah
                                 Based on significant changes, where banking transaction process has morphed
                                 from conventional to digital, and many transactions have been done via
                                 mobile banking, Nanobank Syariah becomes the initiator in presenting a new




                                                                          Laporan Tahunan 2023
                                                                             2023 Annual Report         129
Page 132
03             PROFIL PERUSAHAAN
               Company Profile




menghadirkan konsep kantor cabang dalam bentuk baru,               form of branch office concept, namely Community Hub. This
yaitu Community Hub. Tak hanya menjadi tempat melakukan            is not just a place to do banking activities, but also serves as a
aktivitas perbankan saja, namun juga menjadi tempat bagi           place for communities to gather, expand networks, training
komunitas untuk berkumpul, memperluas jejaring, pelatihan          which surely aims to achieve financial success and to have
yang tentunya bertujuan untuk meraih kesuksesan finansial          better life. With high-tech, high-touch concept, Nanobank
dan memiliki kehidupan yang lebih baik. Dengan konsep              Syariah combines technological advancement and service
high tech high touch, Nanobank Syariah mengombinasikan             personalization, to return digital banking to personal, aiming
kecanggihan teknologi dan personalisasi layanan, guna              to provide the best service according to the preferences of
mengembalikan digital banking menjadi personal, dengan             each customer, whether individual, community or corporate.
tujuan memberikan layanan terbaik sesuai preferensi
masing-masing nasabah, baik individu, komunitas, maupun
korporasi.


Saat ini, Nanobank Syariah memiliki 669 karyawan yang              Currently, Nanobank Syariah has 669 employees
tersebar di 31 kantor cabang, 10 kantor cabang pembantu,           spread across 31 branch offices, 10 sub-branch offices,
12 kantor kas, dan 20 unit pelayanan kas syariah di seluruh        12 cash offices and 20 sharia cash service units all over
Indonesia.                                                         Indonesia.



Produk                                                             Product

           Pendanaan                    Pembayaran                          Investasi
                                                                                                               Channel
            Funding                      Payment                           Investment

 •   Tabungan Aira Flexi iB     • Bill Payment                    • Deposito Aira iB                • Aira Mobile, mobile banking
 •   Tabungan Aira Rencana iB   • Kartu ATM Debit                 • Mudharabah Muqayyadah             bagi nasabah perorangan
 •   Tabungan Aira Bisnis iB      ATM Debit Card                  • Pembiayaan Mikro                  untuk melakukan transaksi
 •   Tabungan Aira Valas iB     • Auto Donation                     Micro Financing                   perbankan
 •   Tabunganku iB              • Payroll                         • Pembiayaan Konsumsi               Aira Mobile, mobile banking
 •   Tabungan SimPel iB         • Virtual Account                   Consumption Financing             for individual customer to
 •   RTJH Aira iB               • Transfer Dana (Pindah buku,     • Pembiayaan Investasi              do banking transactions
 •   Giro Aira iB                 SKN, RTGS, BI Fast, Jaringan      Investment Financing            • Layanan customer service
 •   Giro Aira Valas iB           ATM)                            • Pembiayaan Modal Kerja            melalui telepon,
                                  Fund Transfer (Book transfer,     Working Capital Financing         chat (WhatsApp), dan e-mail
                                  SKN, RTGS, BI Fast, ATM         • Pembiayaan Multijasa              Customer service via phone,
                                  Network)                          Multiservices Financing           chat (WhatsApp), and e-mail
                                • Layanan Remitansi
           Pembiayaan             Remittance Service                                                Channel yang akan dirilis pada
                                                                            Treasury
            Financing                                                                               tahun 2024:
                                Fitur lainnya yang akan dirilis                                     Channels to be released in 2024:
 • Pembiayaan Mikro             pada tahun 2024:                  • Transaksi Valuta Asing          • Internet Banking Business, yang
   Micro Financing              Other features to be released       Foreign Exchange Transaction      diperuntukkan bagi nasabah
 • Pembiayaan Konsumsi          in 2024:                          • Transaksi Pasar Uang Syariah      non-individu
   Murabahah                    • Donasi berupa Wakaf melalui       Sharia Money Market               Internet Banking Business,
   Murabahah Consumption           Uang                             Transaction                       intended for non-individual
   Financing                       Waqf donation via Uang         • Transaksi Surat Berharga          customers
 • Pembiayaan Investasi         • Layanan QRIS                      Syariah                         • API Banking berbasis SNA
   Investment Financing            QRIS Service                     Sharia Securities Transaction     SNA-based API Banking
 • Pembiayaan Konsumsi          • Layanan Uang Elektronik
   Ijarah Multijasa                (eMoney)
   Multiservices Ijarah            eMoney Service
   Consumption Financing        • Layanan Aira Catalog untuk
 • Pembiayaan Konsumsi             pembelian e-voucher dan jasa
   Consumption Financing           lainnya
 • Pembiayaan Modal Kerja          Aira Catalog Service to
   Working Capital Financing       purchase e-voucher and other
                                   services




               Laporan Tahunan 2023
     130       2023 Annual Report
Page 133
                                                                        PT SINAR MAS MULTIARTHA TBK




Pengurus                                                   Management

Dewan Komisaris                                            Board of Commissioners
Komisaris Utama   : The Tjun Hau                           President Commissioner       : The Tjun Hau
Komisaris         : Nana Supriana                          Commissioner                 : Nana Supriana
Komisaris         : Horas Parsaulian Perdede               Commissioner                 : Horas Parsaulian Perdede


Direksi                                                    Board of Directors
Direktur Utama    : Halim                                  President Director : Halim
Direktur          : Hanafi Himawan                         Director                     : Hanafi Himawan
Direktur          : Soejanto Soetjijo                      Director                     : Soejanto Soetjijo
Direktur          : Uzan Tedjamulia                        Director                     : Uzan Tedjamulia
Direktur          : Suyono Wijaya                          Director                     : Suyono Wijaya


Dewan Pengawas Syariah                                     Sharia Supervisory Board
Ketua             : Ahmadi Sukarno                         Chairman                     : Ahmadi Sukarno
Anggota           : Mochammad Bukhori Muslim               Member                       : Mochammad Bukhori Muslim



Kinerja Keuangan                                           Financial Performance

Kinerja keuangan Nanobank Syariah untuk tahun 2023 masih   Financial Performance of Nanobank Syariah for 2023 is still
tergabung dengan Unit Usaha Syariah Bank Sinarmas Tbk.     under the Sharia Business Unit of Bank Sinarmas Tbk.



Peristiwa Penting                                          Significant Events




  18 JANUARI / January 2024

      Peresmian Nanobank Syariah.
      Launching of Nanobank Syariah.



Penghargaan dan Sertifikasi                                Awards and Certifications

Penghargaan dan sertifikasi Nanobank Syariah untuk tahun   Awards and Certifications of Nanobank Syariah for
2023 masih tergabung dengan Unit Usaha Syariah Bank        2023 is still under the Sharia Business Unit of Bank
Sinarmas Tbk.                                              Sinarmas Tbk.




                                                                                  Laporan Tahunan 2023
                                                                                     2023 Annual Report        131
Page 134
03        PROFIL PERUSAHAAN
          Company Profile




PT Asuransi Simas Insurtech




Kantor Pusat                     Profil Perusahaan
Head Office                      Company Profile

                                 PT Asuransi Simas Insurtech berdiri pada tahun 2013 di bidang asuransi, namun
 Menara Tekno Lt. 5              mulai beroperasi pada tahun 2014. Asuransi Simas Insurtech dibentuk untuk
 Jl. Fachruddin No. 19           memenuhi kebutuhan masyarakat modern dalam berasuransi, yang dapat
 Jakarta Pusat 10250             diakses secara online, baik melalui situs web maupun aplikasi di smartphone.
                                 Seluruh kegiatan asuransi dapat dilakukan secara online dan real-time dari
   (021) 5050 7777
                                 proses pembelian polis, penerbitan e-polis, hingga proses klaim.
   simasinsurtech.com

                                 Didukung oleh Perusahaan Reasuransi Nasional dan Internasional, serta 46
                                 karyawan yang andal dan profesional, Asuransi Simas Insurtech pada tahun
                                 2023 fokus memberikan inovasi produk terbaru dan kekinian, terutama
                                 produk sesuai kebutuhan bagi generasi milenial, dengan cara pembelian,
                                 pembayaran, dan klaim yang cepat dan mudah.


                                 PT Asuransi Simas Insurtech was established in 2013 to engage in the
                                 insurance sector, but started its operation in 2014. Simas Insurtech
                                 insurance was formed to address the insurance needs of modern society,
                                 which is accessible online, both via website or app on smartphone. All of
                                 the insurance activities can be conducted online and in real-time, from the
                                 process to purchase policy, e-policy issuance, to the claim process.


                                 In 2023, supported by National and International Reinsurance Companies,
                                 as well as 46 reliable and professional employees, Simas Insurtech Insurance
                                 will focus to provide the latest and most up-to-date product innovations,
                                 particularly products that cater to the needs of millennial generation, with
                                 fast and easy way of purchasing, payment and claims.




          Laporan Tahunan 2023
 132      2023 Annual Report
Page 135
                                                                                             PT SINAR MAS MULTIARTHA TBK




Dalam upaya merespons perkembangan zaman dan kemajuan                       In responding to current development and technological
teknologi, Asuransi Simas Insurtech mengembangkan produk                    advances, Simas Insurtech Insurance is developing
asuransi yang dapat memberikan perlindungan kepada                          insurance products that can provide protection to the
masyarakat terhadap risiko-risiko siber, seperti phishing ataupun           communities against cyber risks, such as phishing or other
modus kejahatan siber lainnya yang berpotensi menimbulkan                   forms of cybercrime that may have the potential detrimental
kerugian bagi masyarakat.                                                   effect for the public.



Produk                                                                      Products

                                               Penggantian biaya transportasi dari Asuransi Mobil Simas Insurtech adalah penggantian yang
                                               diberikan apabila mobil tertanggung yang diasuransikan di Simas Insurtech (pembelian via
                                               online dengan memilih Paket Lengkap) melakukan klaim dan perlu diinapkan ke bengkel untuk
                                               perbaikannya. Penggantian akan diberikan berupa voucher/saldo taxi online dengan besaran
 Asuransi Mobil                                yang sudah ditentukan di dalam polis.
 Home Insurance                                Reimbursement of transportation cost from Simas Insurtech Car Insurance is a reimbursement
                                               provided should the insured’s car insured at Simas Insurtech (via online purchase by
                                               selecting the Complete Package) makes a claim and needs to be taken to a workshop for
                                               repairs. Reimbursement will be provided in the form of an online taxi voucher/balance
                                               with specified amount set in the policy.
                                               Homi Insurtech adalah salah satu produk asuransi unggulan dari Asuransi Simas Insurtech, yang
                                               dirancang dengan tujuan memberikan jaminan asuransi terlengkap guna melindungi rumah
 Asuransi Rumah                                tinggal Anda.
 Flight Delay Insurance
                                               Homi Insurtech is one of the featured superior insurance products of Simas Insurtech Insurance,
                                               designed with an aim to provide the most complete insurance guarantee to protect your home.
                                               Fly Protection adalah asuransi perjalanan yang menjamin keterlambatan perjalanan menggunakan
                                               pesawat terbang komersial dan berjadwal tetap, beserta dengan jaminan atas risiko meninggal
 Asuransi Flight Delay                         dunia, cacat tetap total, dan biaya pengobatan rumah sakit akibat kecelakaan diri.
 Flight Delay Insurance                        Fly Protection is travel insurance guaranteeing travel delays using commercial and fixed-
                                               schedule planes, plus a coverage for risks of death, total permanent disability and hospital
                                               treatment costs due to personal accidents.
                                               Asuransi Simas Insurtech memiliki 2 produk asuransi Travi, yaitu:
 Asuransi Travel                               Simas Insurtech Insurance has 2 Travi insurance products:
 Travel Insurance                              • Simas Insurtech Travel Overseas
                                               • Simas Insurtech Travel Domestic
                                               Produk asuransi hewan peliharaan khusus anjing dan kucing yang menjamin manfaat kematian
                                               akibat kecelakaan, kehilangan akibat pencurian, dan tanggung jawab hukum terhadap pihak ketiga.
 Asuransi Pet
                                               Specific pet insurance product for dogs and cats guaranteeing death benefit due to accidents,
 Pet Insurance                                 loss to theft, and legal liability to third parties.
                                               Persona Simas Insurtech menanggung risiko kematian, cacat tetap keseluruhan dan cacat tetap
 Asuransi Kecelakaan Diri                      sebagian, serta biaya perawatan akibat kecelakaan.
 Personal Accident Insurance                   Persona Simas Insurtech covers the risk of death, total permanent disability and partial
                                               permanent disability, as well as the treatment costs from an accident.
                                               Mudik Insurtech adalah asuransi kecelakaan diri yang menjamin perjalanan mudik dengan
                                               menggunakan angkutan umum resmi (pesawat, kapal laut, kereta api, dan bis) serta kendaraan
 Asuransi Mudik                                pribadi seperti minibus, sedan, dan sejenisnya.
 Homeward-bound Insurance                      Mudik Insurtech is personal accident insurance guaranteeing homeward-bound travel on
                                               official public transportation (planes, ships, trains and buses) as well as private vehicles such as
                                               minibus, sedan and the like.




                                          Mikro                                                                     Perjalanan
                                          Micro                                                                       Travel

 • Asuransi Mikro Warisanku                      • Asuransi Mikro Asuransiku                       • Asuransi Perjalanan Simasnet (Simasnet
   MyInheritance Micro Insurance                   MyInheritance Micro Insurance                     Travel Insurance)
 • Asuransi Mikro Rumahku                        • Asuransi Anti Bangkrut - Erupsi                   Simasnet Travel Insurance
   MyHouse Micro Insurance                         Anti-Bankruptcy Insurance-Eruption              • Lion Air Travel Insurance
 • Asuransi Mikro Stop Usaha Erupsi              • Asuransi Anti Bangkrut - Gempa Tsunami
   Stop of Business-Eruption Micro Insurance       Anti-Bankruptcy Insurance- Earthquake
 • Asuransi Mikro Stop Usaha Gempa Bumi            Tsunami
   Stop of Business-Tsunami Earthquake
   Micro Insurance




                                                                                                        Laporan Tahunan 2023
                                                                                                           2023 Annual Report             133
Page 136
03             PROFIL PERUSAHAAN
               Company Profile




                                       Kecelakaan Diri                                                   Kendaraan Bermotor
                                      Personal Accident                                                       Motor Vehicle

 • Asuransi Kecelakaan Diri                      • Asuransi Kecelakaan Diri Olahraga             • Asuransi Simas Net Mobil
   Personal Accident Insurance                     (Personal Accident Sports)                      Simas Net Car Insurance
 • Asuransi Keterlambatan Penerbangan              Personal Accident Sports                      • Asuransi Simasnet Mobil TPL/Simasnet
   (Flight Delay Protection)                     • Asuransi Tiket (Ticket Protection)              Mobil TJH
   Flight Delay Protection                         Ticket Protection                               TPL Car Simasnet Insurance/TJH Car
 • Asuransi Kecelakaan Diri Columbia             • Asuransi Menyelam (Dive Insurance)              Simasnet
   Columbia Personal Accident Insurance            Dive Insurance                                • Mobil Insurtech
 • Asuransi Simasnet Mudik                       • Simas Insurtech Accident Protection             Car Insurtech
   Simasnet Homeward-bound Insurance               (SIAP)/Homi Insurtech
 • Asuransi Kecelakaan Diri Teleproteksi         • Personal Accident + Covid
   Teleprotection Personal Accident Insurance      (Perluasan Jaminan)
 • Super Shield                                    Personal Accident + Covid
 • Asuransi Kecelakaan dan Kesehatan atau          (Warranty Extension)
   Daily Cash (Personal Accident Daily Cash)
   Personal Accident Daily Cash

                                             Aneka                                                             Harta Benda
                                             Various                                                            Property

 • Asuransi Pet Simasnet                         • Asuransi Pernikahan (Wedding Insurance)       • Asuransi Kebakaran (Flexas) dan Jaminan
   (Pet Insurance Simasnet)                        Wedding Insurance                               Perluasan (Allied Perils)
   Pet Insurance Simasnet                        • Asuransi Perpanjangan Garansi                   Fire and Allied Perils Insurance
 • Asuransi Pet Simasnet                           (Extended Warranty Insurance)                 • Asuransi Gempa Bumi
   (Pet Insurance Simasnet) (MODIF)                Extended Warranty Insurance                     Earthquake Insurance
   Pet Insurance Simasnet (MODIF)                • Asuransi Hewan (Pet Insurance)                • Property All Risk & Business Interruption
 • Asuransi Moveable All Risk                      Pet Insurance                                 • Asuransi Kebakaran (Home Protection)
   Moveable All Risk Insurance                   • Travi Insurtech + Covid (Perluasan Jaminan)     Home Protection
 • Asuransi Sepeda/Asuransi Sepeda Simasnet        Travi Insurtech + Covid (Warranty             • Hole in One
   Bike Insurance/Simasnet Bike Insurance          Extension)

                                        Pengangkutan                                                            Kesehatan
                                        Transportation                                                           Health

 • Asuransi Tanggung Jawab                       • Marine Cargo Insurance                        • Simasnet Sehat Gold
   Pengiriman Barang Lion Parcel                 • Asuransi Tanggung Jawab Pengiriman
   (Cargo Liability Insurance Lion Parcel)         Barang (Cargo Liability Insurance)
   Cargo Liability Insurance Lion Parcel           Cargo Liability Insurance

              Tanggung Gugat                                     Rekayasa                                          Kredit
                 Liability                                      Engineering                                        Credit

 • Return Insurance                              • Contractor’s All Risk                         • Asuransi Kredit
 • Comprehensive General Liability               • Machinery Breakdown                             Credit Insurance
                                                 • Asuransi Semua Risiko Pemasangan              • Asuransi Kredit (Naik Limit)
                                                   (Erection All Risk Insurance)                   Credit Insurance (Limit Top Up)
                                                   Erection All Risk Insurance
                                                 • Asuransi Kompensasi Tenaga Kerja
                                                   (Workmen’s Compensation Insurance)
                                                   Workmen’s Compensation Insurance




Pengurus                                                                  Management

Dewan Komisaris                                                           Board of Commissioners
Komisaris Utama                   : Erick Alfonsius Wayong                President Commissioner    : Erick Alfonsius Wayong
Komisaris Independen              : Iman Tjahya Abdulah                   Independent Commissioner : Iman Tjahya Abdulah
Komisaris Independen              : Johanes Chandra                       Independent Commissioner : Johanes Chandra


Direksi                                                                   Board of Directors
Direktur Utama                    : Teguh Aria Djana                      President Director               : Teguh Aria Djana
Direktur                          : Yosept Dirgo                          Director                         : Yosept Dirgo
Direktur                          : I Made Yoga Mahardhika                Director                         : I Made Yoga Mahardhika
Direktur                          : Dharmanto Raharjo                     Director                         : Dharmanto Raharjo




               Laporan Tahunan 2023
  134          2023 Annual Report
Page 137
                                                                                        PT SINAR MAS MULTIARTHA TBK




Kinerja Keuangan                                                        Financial Performance
                                                           (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                  Uraian                    2023                 2022           2021                             Description

Posisi Keuangan                                                                                                             Financial Positions
Aset                                        1,176,944            920,252        808,290                                                     Assets
Liabilitas                                   545,751             409,815        444,935                                                  Liabilities
Ekuitas                                      631,193             510,437        363,354                                                      Equity
Laba Rugi dan Penghasilan Komprehensif                                                             Profit (Loss) and Other Comprehensive
Lain                                                                                                                             Income
Pendapatan Usaha                             309,775             216,408        281,520                                              Total Income
Beban Usaha                                  103,098              74,122        158,240                                                   Expense
Laba Sebelum Pajak                           207,051             144,998          72,416                                        Profit Before Tax
Laba Bersih Tahun Berjalan                   219,728             144,778          53,124                                       Profit for the Year
Penghasilan Komprehensif Lain                    1,027             2,305            (446)                 Total Other Comprehensive Income
Total Penghasilan (Rugi) Komprehensif        220,755             147,083          52,678               Total Comprehensive Income (Loss)




Penghargaan dan Sertifikasi                                             Awards and Certifications

1. Insurance Awards Media Asuransi 2023                                 1. Insurance Awards Media Asuransi 2023
   Best General Insurance Equity         Rp500   Million     -             Best General Insurance Equity Rp500 Million -
   Rp1,5 Trillion                                                          Rp1,5 Trillion
   Penyelenggara: Media Asuransi                                           Organizer: Media Asuransi


2. 24 th Insurance Award                                                2. 24th Insurance Award
   The Best Performance General Insurance Company                          The Best Performance General Insurance Company
   2023                                                                    2023
   Penyelenggara: Infobank                                                 Organizer: Infobank


3. Sinar Mas Digital Day 2023                                           3. Sinar Mas Digital Day 2023
   Exponential Growth of the Year                                          Exponential Growth of the Year
   Penyelenggara: Sinar Mas                                                Organizer: Sinar Mas




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report                 135
Page 138
03        PROFIL PERUSAHAAN
          Company Profile




PT Reasuransi Nusantara Makmur




Kantor Pusat                     Profil Perusahaan
Head Office                      Company Profile

                                 PT Reasuransi Nusantara Makmur atau Nusantara Re merupakan perusahaan
 Menara Tekno Lt. 7              asuransi yang berdiri sejak tahun 2017. Perusahaan yang tergabung dalam
 Jl. Fachruddin No. 19           Grup Sinarmas Multiartha ini memiliki 96 karyawan yang ahli di bidangnya.
 Jakarta Pusat 10250
                                 Pada tahun 2023, perusahaan fokus menjadi treaty leader di bisnis non-life
   (021) 392 5660
                                 serta mengembangkan bisnis life yang memiliki potensi besar. Selain itu,
   (021) 393 5788
                                 pengembangan bisnis syariah turut dilakukan dalam rangka melaksanakan
   www.nusantarare.com
                                 spin off unit syariah di tahun 2026.


                                 PT Reinsurance Nusantara Makmur or Nusantara Re is an insurance company
                                 established in 2017. A part of Sinarmas Multiartha Group, the company has
                                 96 employees who are experts in their fields.


                                 In 2023, the company is focus to be a treaty leader in non-life business while
                                 developing the great potential of life business. Other than that, the company
                                 also work on developing the sharia business to prepare for the spin-off of its
                                 sharia unit in 2026.




          Laporan Tahunan 2023
 136      2023 Annual Report
Page 139
                                                                                             PT SINAR MAS MULTIARTHA TBK




Produk                                                                    Products

•      Treaty                                                             •    Treaty
•      Facultative                                                        •    Facultative



Pengurus                                                                  Management

Dewan Komisaris                                                           Board of Commissioners
Komisaris Utama          : I Ketut Pasek Swastika                         President Commissioner                 : I Ketut Pasek Swastika
Komisaris                : Njoman Sudartha                                Commissioner                           : Njoman Sudartha
Komisaris                : Marten Petrus Lalamentik                       Commissioner                           : Marten Petrus Lalamentik
Komisaris                : Moro Widijono Budhi                            Commissioner                           : Moro Widijono Budhi


Direksi                                                                   Board of Directors
Direktur Utama           : Eka Priadi Wongso                              President Director                     : Eka Priadi Wongso
Direktur                 : Nandina Cakradinata                            Director                               : Nandina Cakradinata
Direktur                 : Himawan Yustiono                               Director                               : Himawan Yustiono



Kinerja Keuangan                                                          Financial Performance
                                                                (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)


                      Uraian                          2023         2022              2021                             Description

    Posisi Keuangan                                                                                                              Financial Positions
    Aset                                         3,146,744       3,039,089         1,864,949                                                     Assets
    Liabilitas                                   2,453,258       2,452,567         1,324,861                                                  Liabilities
    Ekuitas                                           693,485      586,522           540,088                                                      Equity
    Laba Rugi dan Penghasilan Komprehensif                                                              Profit (Loss) and Other Comprehensive
    Lain                                                                                                                              Income
    Pendapatan Usaha                                  157,413      453,744           634,331                                              Total Income
    Beban Usaha                                        51,995      414,888           570,012                                                   Expense
    Laba Sebelum Pajak                                103,953       61,643             52,868                                        Profit Before Tax
    Laba Bersih Tahun Berjalan                         90,815       55,565             52,108                                       Profit for the Year
    Penghasilan (Beban) Komprehensif Lain               7,425       (9,130)            (1,216)      Total Other Comprehensive Income (Expense)
    Total Penghasilan (Rugi) Komprehensif              98,239       46,435             50,892               Total Comprehensive Income (Loss)




Penghargaan dan Sertifikasi                                               Awards and Certifications

1. Market Leaders Award 2023                                              1. Market Leaders Award 2023
       Penyelenggara: Media Asuransi                                           Organizer: Media Asuransi


2. Best Sharia Reinsurance 2023                                           2. Best Sharia Reinsurance 2023
       Exponential Growth of the Year                                          Exponential Growth of the Year
       Penyelenggara: Media Asuransi                                           Organizer: Media Asuransi


3. Best Reinsurance 2023                                                  3. Best Reinsurance 2023
       Penyelenggara: Media Asuransi                                           Organizer: Media Asuransi




                                                                                                          Laporan Tahunan 2023
                                                                                                             2023 Annual Report                 137
Page 140
03                  PROFIL PERUSAHAAN
                    Company Profile




Alamat Perusahaan, Entitas Anak, dan
Entitas Asosiasi
Address of the Company, Subsidiaries, and Associates

                                                               PT Sinar Mas Multiartha Tbk

                                                                       Menara Tekno Lt. 7
                                                                       Jl. Fachruddin No. 19
                                                                       Jakarta Pusat, 10250

                 (021) 392 5660                         (021) 392 5788                     multiartha@smma.co.id                 www.smma.co.id




               PT Bank Sinarmas Tbk                              PT Simas Money Changer                   PT MSIG Life Insurance Indonesia Tbk*)

     Sinar Mas Land Plaza                                Menara Tekno Lt. 7                               Wiska Eka Jiwa Lt. 9
     Tower I Lt. 1-2                                     Jl. Fachruddin No. 19                            Jl. Mangga Dua Raya
     Jl. MH Thamrin No. 51                               Jakarta Pusat, 10250                             Jakarta, 10730
     Jakarta, 10350
         (021) 3199 0101                                    (021) 392 5660       (021) 393 5788             (021) 625 7808
         (021) 3199 0401                                                                                    021) 625 7837-38
         www.banksinarmas.com                                                                               cs@sinarmasmsiglife.co.id
                                                                                                            www.sinarmasmsiglife.co.id

              PT Asuransi Simas Jiwa                               PT Asuransi Sinar Mas                       PT Asuransi Simas Insurtech

     Gedung Simas Jiwa                                   Plaza Simas                                      Menara Tekno Lt. 5
     Jl. Lombok No. 73                                   Jl. Fachrudin No. 18-20                          Jl. Fachruddin No. 19
     Jakarta Pusat, 10350                                Jakarta, 10250                                   Jakarta Pusat, 10250
         (021) 2139 0188                                     (021) 390 2141 - 46                              (021) 392 5050 7777
         (021) 2139 3319                                     (021) 390 2159 - 60
         cs@simasjiwa.co.id                                  info@sinarmas.co.id
         www.simasjiwa.co.id                                 www.sinarmas.co.id

               PT Asuransi Sumit Oto                            PT KB Insurance Indonesia                          PT Sinar Mas Multifinance

     Plaza Simas                                         Sahid Sudirman Center, Lt. 53 Unit A, E, & F     Jl. Lombok No. 71
     Jl. Fachrudin No. 18                                Jl. Jenderal Sudirman Kav. 86                    Jakarta, 10350
     Jakarta, 10250                                      Jakarta Pusat, 10220
         (021) 390 2141 - 46                                  (021) 5010 1010                               (021) 3190 2888
         (021) 390 2159 - 60                                  (021) 3190 5910                               (021) 3190 3589
                                                              help@kbinsurance.co.id                        cs@simasfnance.co.id
                                                              www.kbinsure.co.id                            www.simasfinance.co.id

          PT AB Sinar Mas Multifinance                           PT Sinarmas Hana Finance                             PT Oto Multiartha

     Menara Tekno Lt. 7                                  Roxy Square                                      Gedung Summitmas II Lt. 7
     Jl. Fachruddin No. 19                               Jl. Kyai Tapa No. 1                              Jl. Jendral Sudirman Kav. 61-62
     Jakarta Pusat, 10250                                Jakarta Barat, 11440                             Jakarta, 12910
         (021) 392 5660                                      (021) 5695 4670                                   021) 522 6410
         (021) 393 5788                                      (021) 5695 4678                                   (021) 522 6424
                                                             customercare@shf.co.id                            www.oto.co.id
                                                             www.shf.co.id

              PT Summit Oto Finance                                PT Sinarmas Sekuritas                     PT Sinarmas Asset Management

     Gedung Summitmas II Lt. 8                           Sinas Mas Land Plaza                             Sinarmas Land Plaza
     Jl. Jendral Sudirman Kav. 61-62                     Tower III Lt. 5-6                                Tower III Lt. 7
     Jakarta, 12910                                      Jl. MH Thamrin No. 51                            Jl. MH Thamrin No. 51
                                                         Jakarta, 10350                                   Jakarta, 10350
       (021) 252 2788                                        (021) 392 5550                                   (021) 5050 7000
       (021) 522 6601 - 06                                   (021) 392 5540                                   (021) 392 5540
       (021) 252 6288                                        (021) 392 7177                                   (021) 392 7177
       info@oto.co.id                                        cs@sinarmassekuritas.co.id
       www.otofinance.co.id                                  www.sinarmassekuritas.co.id

*)
     Dahulu PT Asuransi Jiwa Sinarmas MSIG Tbk. / Formerly PT Asuransi Jiwa Sinarmas MSIG Tbk.




                    Laporan Tahunan 2023
      138           2023 Annual Report
Page 141
                                                                            PT SINAR MAS MULTIARTHA TBK




          PT Sinarmas Futures                    PT Sinartama Gunita             PT Pasar Dana Pinjaman (Danamas)

Sinarmas Land Plaza                    Menara Tekno Lt. 7                       Menara Tekno Lt. 7
Tower III Lt. 7                        Jl. Fachruddin No. 19                    Jl. Fachruddin No. 19
Jl. MH Thamrin No. 51                  Jakarta Pusat, 10250                     Jakarta Pusat, 10250
Jakarta, 10350
    (021) 392 5550                       (021) 392 5660                           (021) 392 5660
    (021) 3983 4640                      (021) 393 5788                           (021) 392 5788
    cs.support@sinarmasfutures.co.id     helpdesk1@sinartama.co.id                cs@danamas.co.id
    www.sinarmasfutures.co.id            www.sinartamagunita.com                  www.danamas.co.id

             PT Shinta Utama                   PT Rizki Lancar Sentosa               PT Jakarta Teknologi Utama

Menara Tekno Lt. 7                     Roxy Square                              Jl. Rawa Bali I Kav. A No. 19
Jl. Fachruddin No. 19                  Jl. Kyai Tapa No. 1                      Kawasan Industri Pulogadung
Jakarta Pusat, 10250                   Jakarta Barat                            Rawaterate Cakung, Jakarta Timur
    (021) 392 5660                         (021) 569 3500                           (021) 4682 6242
    (021) 393 5788                         (021) 569 3900                           (021) 4682 6247

      PT Autopro Utama Perkasa                  PT Bank Nano Syariah                     PT Sinar Mas Ventura

Toko Suku Cadang Mobil                 Jl. Teuku Cik Ditiro No. 29              Roxy Square Lt. 1 Blok B 08 No. 1
Jl. Raya Waru No. 82                   Menteng                                  Jl. Kyai Tapa No. 1
Waru, 61256                            Jakarta Pusat, 10310                     Tomang, Grogol Petamburan
                                                                                Jakarta Barat, 11440
  (0231) 853 1616                        (021) 392 3329                             (021) 5695 4451
                                                                                    (021) 5695 452
                                                                                    cs@sinarmasventura.com
                                                                                    www.sinarmasventura.com

       PT Dana Saham Bersama               PT Digital Solusindo Nusantara                PT Pasar Gadai Digital

Roxy Sqyare Lt. 1 Blok A No. 1         Menara Tekno Lt. 7                       Menara Tekno Lt. 7
Jl. Kyai Tapa No. 1                    Jl. Fachruddin No. 19                    Jl. Fachruddin No. 19
Tomang, Grogol Petamburan              Jakarta Pusat, 10250                     Jakarta Pusat, 10250
Jakarta Barat, 11440
    (021) 5695 4551 - 52                 (021) 392 5660                           (021) 392 5660
    cs@danasaham.co.id                   (021) 393 5788                           (021) 392 5788
    www.danasaham.co.id

         PT Data Opal Terpadu                   PT Zimba Onix Mustika                  PT Sistem Loka Triprima

Menara Tekno Lt. 7                     Menara Tekno Lt. 7                       Menara Tekno Lt. 7
Jl. Fachruddin No. 19                  Jl. Fachruddin No. 19                    Jl. Fachruddin No. 19
Jakarta Pusat, 10250                   Jakarta Pusat, 10250                     Jakarta Pusat, 10250
    (021) 392 5660                         (021) 392 5660                           (021) 392 5660
    (021) 393 5788                         (021) 393 5788                           (021) 393 5788

        Sinar Mas Life Insurance                PT Arthamas Solusindo                   PT Sinar Artha Trading

Rua 30 de Agosto                       Menara Tekno Lt. 7                       Menara Tekno Lt. 7
Bidau Lecidere, Dili                   Jl. Fachruddin No. 19                    Jl. Fachruddin No. 19
Timor Leste                            Jakarta Pusat, 10250                     Jakarta Pusat, 10250
  (0670) 331 0899                          (021) 392 5660                           (021) 392 5660
                                           (021) 393 5788                           (021) 393 5788

          PT Artha Bina Usaha                 PT Sinar Artha Konsulindo                PT Arthamas Informatika

Menara Tekno Lt. 7                     Menara Tekno Lt. 7                       Menara Tekno Lt. 7
Jl. Fachruddin No. 19                  Jl. Fachruddin No. 19                    Jl. Fachruddin No. 19
Jakarta Pusat, 10250                   Jakarta Pusat, 10250                     Jakarta Pusat, 10250
    (021) 392 5660                         (021) 392 5660                           (021) 392 5660
    (021) 393 5788                         (021) 393 5788                           (021) 393 5788




                                                                                    Laporan Tahunan 2023
                                                                                       2023 Annual Report           139
Page 142
03           PROFIL PERUSAHAAN
             Company Profile




       PT Sinar Artha Inforindo              PT Sinar Artha Solusindo          PT Kreasi Retail Nusantara

Menara Tekno Lt. 7                    Menara Tekno Lt. 7                 Menara Tekno Lt. 7
Jl. Fachruddin No. 19                 Jl. Fachruddin No. 19              Jl. Fachruddin No. 19
Jakarta Pusat, 10250                  Jakarta Pusat, 10250               Jakarta Pusat, 10250
    021) 392 5660                         (021) 392 5660                     (021) 392 5660
    (021) 393 5788                        (021) 393 5788                     (021) 393 5788

       PT Berkat Surya Mentari          PT Reasuransi Nusantara Makmur

Jl. Raya Bekasi KM 20 RT/RW 003/003   Menara Tekno Lt. 7
Rawa Terate, Cakung                   Jl. Fachruddin No. 19
Jakarta Timur 13920                   Jakarta Pusat, 10250
    (021) 5055 6789                       (021) 392 5660




             Laporan Tahunan 2023
 140         2023 Annual Report
Page 143
                                                                              PT SINAR MAS MULTIARTHA TBK




Komposisi Pemegang Saham
Shareholders Composition

Perseroan berkewajiban untuk menyampaikan Laporan             It is the Company’s obligation to submit Share Ownership
Kepemilikan Saham atau Setiap Perubahan Kepemilikan           Report or any Change in Public Company Ownership,
Perusahaan Terbuka, termasuk informasi kepemilikan            including share ownership information of each member
saham masing-masing anggota Dewan Komisaris dan               of the Board of Commissioners and Board of Directors. As
Direksi. Oleh karena itu, setiap anggota Dewan Komisaris      such, every member of the Board of Commissioners and
dan Direksi senantiasa melaporkan setiap perubahan            Board of Directors should report every change on their
kepemilikannya atas saham Perseroan paling lambat 3 hari      ownership of the Company’s shares no later than 3 working
kerja setelah terjadinya transaksi. Selanjutnya, Perseroan    days after the transactions is executed. The Company then
menyampaikan laporan tersebut kepada Otoritas Jasa            submit such report to the Financial Services Authority no
Keuangan paling lambat 10 hari sejak terjadinya transaksi.    later than 10 days after the translation occurred. In 2023,
Pada tahun 2023, Perseroan telah menyampaikan                 the Company has submitted monthly report on the share
laporan bulanan atas kepemilikan saham anggota                ownership of the member of the Board of Commissioners
Dewan Komisaris dan Direksi melalui e-reporting kepada        and Board of Director through e-reporting to the Financial
Otoritas Jasa Keuangan dan Bursa Efek Indonesia.              Services Authority and Indonesian Stock Exchange.


Sementara itu, kepemilikan saham Perseroan, termasuk          Meanwhile, the Company’s share ownership, including the
kepemilikan oleh Dewan Komisaris dan Direksi, pada awal       share ownership of the Board of Commissioners and Board
dan akhir tahun 2023 diungkapkan sebagai erikut.              of Directors at the beginning and end of 2023 is described
                                                              as follows.


                                Per 1 Januari 2023               Per 31 Desember 2023
                                Per 1 January 2023               Per 31 December 2023

                          Jumlah Saham       Persentase      Jumlah Saham         Persentase
        Uraian              (Lembar         Kepemilikan        (Lembar           Kepemilikan     Status Kepemilikan
      Description            Saham)            Share            Saham)              Share        Status of Ownership
                          Total Number       Ownership       Total Number         Ownership
                            of Shares       Percentage         of Shares         Percentage
                            (Shares)             (%)           (Shares)               (%)

 Kepemilikan >5%
 Above 5% Ownership

 Bank of Singapore
                                                                                                      Institusi Asing
 Limited S/A               3,225,000,000          51.12        600,000,000            9.42
                                                                                                    Foreign Institution
 PT Sinar Mas Cakrawala

                                                                                                      Institusi Lokal
 PT Sinar Mas Cakrawala      10,257,697            0.16       2,690,977,644          42.26
                                                                                                     Local Institution

 Kepemilikan Dewan Komisaris dan Direksi
 Board of Commissioners and Board of Directors Ownership

                                                                                                       Individu Lokal
                                                                                                    (Komisaris Utama)
 Indra Widjaja                2,180,600         0.0342           2,180,600            0.03
                                                                                                      Local Individual
                                                                                                (President Commissioner)

 Fuganto Widjaja                       -              -                   -              -

 Howen Widjaja                         -              -                   -              -            Individu Lokal
                                                                                                        (Komisaris)
 Dani Lihardja                         -              -                   -              -
                                                                                                     Local Individual
 Robinson Simbolon                     -              -                   -              -           (Commissioner)

 Ketut Sanjaya                         -              -                   -              -
                                                                                                       Individu Lokal
                                                                                                     (Direktur Utama)
 Burhanuddin Abdullah                  -              -                   -              -
                                                                                                      Local Individual
                                                                                                   (President Director)




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report          141
Page 144
03            PROFIL PERUSAHAAN
              Company Profile




                                  Per 1 Januari 2023                         Per 31 Desember 2023
                                  Per 1 January 2023                         Per 31 December 2023

                          Jumlah Saham          Persentase               Jumlah Saham          Persentase
          Uraian            (Lembar            Kepemilikan                 (Lembar            Kepemilikan            Status Kepemilikan
        Description          Saham)               Share                     Saham)               Share               Status of Ownership
                          Total Number          Ownership                Total Number          Ownership
                            of Shares          Percentage                  of Shares          Percentage
                            (Shares)                (%)                    (Shares)                (%)

Agus Leman Gunawan                        -                  -                        -                    -
                                                                                                                          Individu Lokal
Felix                                     -                  -                        -                    -                (Direktur)
Ferita                            274,393                 0.00                        -                    -             Local Individual
                                                                                                                            (Director)
Lili Wijata                               -                  -                        -                    -
Kepemilikan <5%
Below 5% Ownership
Masyarakat                                                                                                             Individu dan Instansi
(masing-masing                                                                                                            Lokal dan Asing
                            3,099,952,027                48.68            3,074,506,473                48.29
di bawah 5%)                                                                                                             Local and Foreign
Public (each under 5%)                                                                                               Individual and Institution
Total                       6,367,664,717         100.0000                6,367,664,717             100.0000




GRAFIK SAHAM PER 31 DESEMBER 2023
Share Chart per 31 December 2023


                                                                 0.03%                                                                  42.26%

                                                                 9.42%


   Bank of Singapore Limited S/A
   PT Sinar Mas Cakrawala
   Indra Widjaja
   PT Sinar Mas Cakrawala
   Masyarakat (masing-masing di bawah 5%)
   Public (each under 5%)



                                                                 48.29%



KOMPOSISI KEPEMILIKAN SAHAM BERDASARKAN STATUS KEPEMILIKAN
Shareholders Ownership Composition based on Status of Ownership


                                                                     Per 1 Januari 2023                        Per 31 Desember 2023
                                                                     Per 1 January 2023                        Per 31 December 2023
                                                                                     Persentase                                 Persentase
                        Uraian                                Jumlah Saham                                Jumlah Saham
                                                                                    Kepemilikan                                Kepemilikan
                      Description                            (Lembar Saham)                              (Lembar Saham)
                                                                                       Share                                      Share
                                                             Total Number of                             Total Number of
                                                                                     Ownership                                  Ownership
                                                                  Shares                                      Shares
                                                                                    Percentage                                 Percentage
                                                                 (Shares)                                    (Shares)
                                                                                         (%)                                        (%)

Kustodian Sentral Efek Indonesia
                                                                  5,857,779,410           91.9926          6,050,770,610            95.0234
Indonesia Central Securities Depository
Perusahaan Terbatas NPWP
                                                                   503,710,761             7.9104              310,719,561           4.8797
Limited Liability Company with Tax Registration Number
Institusi Asing
                                                                     6,024,186             0.0946                6,024,186           0.0946
Foreign Institution




              Laporan Tahunan 2023
  142         2023 Annual Report
Page 145
                                                                                          PT SINAR MAS MULTIARTHA TBK




                                                                     Per 1 Januari 2023                         Per 31 Desember 2023
                                                                     Per 1 January 2023                         Per 31 December 2023
                                                                                       Persentase                                Persentase
                          Uraian                               Jumlah Saham                              Jumlah Saham
                                                                                      Kepemilikan                               Kepemilikan
                        Description                           (Lembar Saham)                            (Lembar Saham)
                                                                                         Share                                     Share
                                                              Total Number of                           Total Number of
                                                                                       Ownership                                 Ownership
                                                                   Shares                                    Shares
                                                                                      Percentage                                Percentage
                                                                  (Shares)                                  (Shares)
                                                                                           (%)                                       (%)

 Koperasi
                                                                       150,000            0.0024                   150,000           0.0024
 Cooperative
 Individu Lokal
                                                                             360          0.0000                      360            0.0000
 Local Individual
 Individu Asing
                                                                               -               -                         -                  -
 Foreign Individual
 Total                                                           6,367,664,717          100.0000           6,367,664,717           100.0000




Pemegang Saham Utama dan Pengendali
Main and Controlling Shareholders

                                                       Linda Suryasari Wi-          Linda Suryasari
   Muktar Widjaja                Indra Widjaja
                                                         jaya Limantara            Wijaya Limantara

         25%                         25%                      25%                        25%




                    PT Sinarindo                                                               Frangky Oesman                 Linda Suryasari
                                            Muktar Widjaja            Indra Widjaja
                    Gerbangmas                                                                     Widjaja                   Wijaya Limantara

                      85.2108%                   3.6973%                 3.6973%                      3.6973%                    3.6973%




                                                                      PT Sinar Mas                                             Masyarakat /
                                                                       Cakrawala                                                  Public

                                                                        51.6826%                                                 48.3174%




Catatan / Notes:
Ultimate Shareholders Perseroan adalah Bapak Indra Widjaja.
The Ultimate Shareholder of the Company is Mr. Indra Widjaja.




                                                                                                      Laporan Tahunan 2023
                                                                                                         2023 Annual Report            143
Page 146
03              PROFIL PERUSAHAAN
                Company Profile




Realisasi Penggunaan
Dana Hasil Penawaran Umum
Realization of Public Offering Proceeds Utilization

Pada tahun 2023, Perseroan memiliki kewajiban atas pelaporan penggunaan dana hasil penerbitan Obligasi Berkelanjutan II
Sinar Mas Multiartha Tahap III Tahun 2022 dan Obligasi Berkelanjutan II Sinar Mas Multiartha Tahap IV Tahun 2023. Rincian
penggunaan dana hasil penawaran obligasi tersebut diungkapkan sebagai berikut.


                                                                                        Nilai Realisasi Hasil Penawaran Umum
                                                                                      Public Offering Proceeds Realization Value

                                              Tanggal Efektif               Total Hasil                Biaya Penawaran
     Jenis Penawaran Umum
                                              Effective Date            Penawaran Umum                      Umum                        Hasil Bersih
                                                                           Total Public                 Public Offering                 Net Proceeds
                                                                        Offering Proceeds                  Expenses                         (Rp)
                                                                               (Rp)                          (Rp)

 Obligasi Berkelanjutan II Sinar Mas
                                                27 August 2021             1,660,000,000,000               10,560,920,000              1,649,439,080,000
 Multiartha Tahap III Tahun 2022

 Obligasi Berkelanjutan II Sinar Mas
                                                27 August 2021               784,719,000,000                4,763,244,330                779,955,755,670
 Multiartha Tahap IV Tahun 2023

Keterangan:
1. Dana hasil penerbitan Obligasi Berkelanjutan II Sinar Mas Multiartha Tahap III Tahun 2022 sebesar Rp500 miliar disalurkan kepada PT Arthamas Solusindo sebagai
   pinjaman modal kerja bersifat perpetual loan kepada PT Data Opal Terpadu yang merupakan Entitas Anak yang dimiliki PT Arthamas Solusindo, serta sisanya
   disalurkan kepada PT Shinta Utama dipergunakan sebagai pinjaman modal kerja bersifat perpetual loan kepada PT Zimba Onix Mustika dan PT Sistem Lokal
   Triprima yang merupakan Entitas Anak yang dimiliki PT Shinta Utama.
2. Dana hasil penerbitan Obligasi Berkelanjutan II Sinar Mas Multiartha Tahap IV Tahun 2023 sebesar Rp350 miliar digunakan sebagai:
   a. Pinjaman modal kerja kepada PT AB Sinarmas Multifinance dan PT Sinarmas Multifinance untuk menunjang ekspansi kredit, masing-masing sebesar
      Rp350 miliar dan Rp360 miliar; dan
   b. Sisanya digunakan untuk menunjang kebutuhan modal kerja Perseroan, seperti membayar beban operasional, beban pemasaran, beban pengembangan
      usaha, dan/atau beban lainnya sehubungan dengan kegiatan usaha Perseroan.




Program Kepemilikan Saham
oleh Karyawan dan/atau Manajemen
Employee and/or Management Stock Allocation Program

Pada tahun 2023, Perseroan tidak melaksanakan program                               In 2023, the Company did not conduct Management
kepemilikan saham, baik untuk Manajemen maupun                                      or Employee stock allocation program. As such,
karyawan. Dengan demikian, tidak terdapat informasi                                 there is no information related to that matter in this
terkait hal tersebut dalam Laporan Tahunan ini.                                     Annual Report.




                 Laporan Tahunan 2023
   144           2023 Annual Report
Page 147
                                                                                                       PT SINAR MAS MULTIARTHA TBK




In 2023, the Company has the obligation to report the utilization of the proceeds of Sinar Mas Multiartha Sustainable Bond II
Phase III Year 2022 and Sinar Mas Multiartha Sustainable Bond II Phase IV Year 2023. The details of the utilization of the bond
offering proceeds is described as follows.




    Rencana Penggunaan                     Realisasi Penggunaan                       Sisa Dana Hasil
   Dana untuk Modal Kerja                 Dana untuk Modal Kerja                    Penawaran Umum
      WorkingCapital                      Realization of Working                   Remaining Balance of                      Type of Public Offering
    Fund Utilization Plan                 Capital Fund Utilization                Public Offering Proceeds
            (Rp)                                    (Rp)                                    (Rp)



                                                                                                                            Sinar Mas Multiartha Sustainable
         1,649,439,080,000                       1,649,439,080,000                                -
                                                                                                                                  Bond II Phase III Year 2022

                                                                                                                            Sinar Mas Multiartha Sustainable
           779,955,755,670                         779,955,755,670                                -
                                                                                                                                  Bond II Phase IV Year 2023

Description:
1. The proceeds from the issuance of Sinar Mas Multiartha Sustainable Bond II Phase III Year 2022 of Rp500 billion was distributed to PT Arthamas Solusindo as a
   perpetual working capital loan to PT Data Opal Terpadu, a Subsidiary owned by PT Arthamas Solusindo, and the remainder was distributed to PT Shinta Utama and
   used as a perpetual working capital loan to PT Zimba Onix Mustika and PT Sistem Lokal Triprima, the Subsidiaries owned by PT Shinta Utama.

2. The proceeds from the issuance of Sinar Mas Multiartha Sustainable Bonds II Phase IV 2023 of Rp350 billion was used as:
   a. Working capital loan to PT AB Sinarmas Multifinance and PT Sinarmas Multifinance to support credit expansion, of Rp350 billion and Rp360 billion respectively;
      and
   b. The remainder was used to support the Company’s working capital needs, such as paying operational expenses, marketing expenses, business development
      expenses, and/or other expenses related to the Company’s business activities.




                                                                                                                    Laporan Tahunan 2023
                                                                                                                       2023 Annual Report                145
Page 148
03              PROFIL PERUSAHAAN
                Company Profile




Kronologi Pencatatan Saham
Chronological Listing of Shares

Pencatatan saham Perseroan di Bursa Efek Indonesia                 The Company’s listing of shares in Indonesian Stock
dilakukan pada 5 Juli 1995. Kronologi pencatatan saham             Exchange is carried out on 5 July 1995. The chronology of
Perseroan hingga tahun 31 Desember 2023 diungkapkan                the Company’s listing of shares until 31 December 2023 is
sebagai berikut.                                                   described as follows.




                                                                           Nilai
                                                         Penambahan                        Harga          Jumlah Saham
    Tanggal                                                               Nominal
                                  Keterangan                Saham                       Penawaran            Beredar
  Pelaksanaan                                                             Nominal
                                  Description             Number of                    Offering Price    Total Number of
  Exercise Date                                                            Value
                                                         Shares Issued                      (Rp)        Outstanding Shares
                                                                            (Rp)

                      Pendiri
                                                                     -           -             -            450,000,000
                      Initial Shares
                      Penawaran Umum Perdana
 5 July 1995                                               60,000,000         500          1,800            510,000,000
                      Initial Public Offering
                      Saham Bonus (10:3)
 15 August 1996                                           153,000,000         500              -            663,000,000
                      Bonus Shares (10:3)
                      PUT I (1:1)
 28 November 1996                                         663,000,000         500            750           1,326,000,000
                      Right Issue I (1:1)
                      Konversi Waran Seri I
 1997                                                         142,970         500              -           1,326,142,970
                      Conversion of Warrant Series I
                      Konversi Waran Seri I
 1998                                                      98,521,710         500              -           1,424,664,680
                      Conversion of Warrant Series I
                      Konversi Waran Seri I
 1999                                                           1,000         500              -           1,424,665,680
                      Conversion of Warrant Series I
                      Konversi Waran Seri I
 2000                                                          58,500         500              -           1,424,724,180
                      Conversion of Warrant Series I
                      Konversi Waran Seri I
 2001                                                          19,500         500              -           1,424,743,680
                      Conversion of Warrant Series I
                      Reverse Stock (1:10)
 7 March 2003                                                        -       5,000             -            142,474,368
                      Reverse Stock Split (1:10)
                      PUT II Saham Seri B
 25 July 2003                                            2,137,115,520        100            100           2,279,589,888
                      Right Issue II Series B
                      Konversi Waran Seri II
 2004                                                     566,646,650         100              -           2,846,236,538
                      Conversion of Warrant Series II
                      PUT III Saham Seri B
 20 July 2005                                             991,325,341         100            125           3,837,561,879
                      Right Issue III Series B
                      Konversi Waran Seri II
 2005                                                       2,413,266         100              -           3,839,975,145
                      Conversion of Warrant Series II
                      Konversi Waran Seri II
 2006                                                          47,066         100              -           3,840,022,211
                      Conversion of Warrant Series II
                      Konversi Waran Seri III
 2006                                                     298,830,000         100              -           4,138,852,211
                      Conversion of Warrant Series III
                      Konversi Waran Seri II
 2007                                                         180,500         100              -           4,139,032,711
                      Conversion of Warrant Series II
                      Konversi Waran Seri III
 2007                                                     683,022,704         100              -           4,822,055,415
                      Conversion of Warrant Series III
                      PUT IV Saham Seri B
 16 June 2008                                             964,528,953         100            100           5,786,584,368
                      Right Issue IV Series B
                      Konversi Waran Seri II
 2008                                                         655,569         100              -           5,787,239,937
                      Conversion of Warrant Series II
                      Konversi Waran Seri III
 2008                                                         425,478         100              -           5,787,665,415
                      Conversion of Warrant Series III




                Laporan Tahunan 2023
  146           2023 Annual Report
Page 149
                                                                            PT SINAR MAS MULTIARTHA TBK




                                                                         Nilai
                                                        Penambahan                    Harga          Jumlah Saham
   Tanggal                                                              Nominal
                              Keterangan                   Saham                   Penawaran            Beredar
 Pelaksanaan                                                            Nominal
                              Description                Number of                Offering Price    Total Number of
 Exercise Date                                                           Value
                                                        Shares Issued                  (Rp)        Outstanding Shares
                                                                          (Rp)

                   Konversi Waran Seri III
2009                                                       8,828,686       100            -           5,796,494,101
                   Conversion of Warrant Series III
                   Konversi Waran Seri IV
2009                                                     383,764,094       100            -           6,180,258,195
                   Conversion of Warrant Series IV
                   Konversi Waran Seri III
2010                                                       1,600,804       100            -           6,181,858,999
                   Conversion of Warrant Series III
                   Konversi Waran Seri IV
2010                                                      41,933,667       100            -           6,223,792,666
                   Conversion of Warrant Series IV
                   Konversi Waran Seri IV
2011                                                       8,745,391       100            -           6,232,538,057
                   Conversion of Warrant Series IV
                   Konversi Waran Seri IV
2012                                                       3,395,219       100            -           6,235,933,276
                   Conversion of Warrant Series IV
                   Konversi Waran Seri IV
2013                                                       1,875,441       100            -           6,237,808,717
                   Conversion of Warrant Series IV
                   PMTHMETD
22 December 2015                                         119,856,000       100            -           6,357,664,717
                   Private Placement
                   PMTHMETD
16 August 2016                                            10,000,000       100            -           6,367,664,717
                   Private Placement
                   Konversi PMTHMTED Saham Seri B
                   menjadi Saham Saham Seri A
2 June 2017                                                        -       500            -           6,367,664,717
                   Conversion of Private Placement of
                   Series B Shares to Series A Shares




                                                                                    Laporan Tahunan 2023
                                                                                       2023 Annual Report       147
Page 150
03        PROFIL PERUSAHAAN
          Company Profile




       Pada 14 Juni 1995, Perseroan mendapatkan pernyataan efektif dari Ketua Bapepam melalui Surat No. S-759/PM/1995
       untuk mencatatkan saham di Bursa Efek Jakarta dan Bursa Efek Surabaya. Berikutnya, Perseroan melakukan Penawaran
       Umum Perdana atas 60.000.000 saham dengan nilai nominal sebesar Rp500,- per saham dan harga penawaran sebesar
       Rp1.800,- per saham.
1995
       The Company received an effective statement from the Chairman of Capital Market Supervisory Agency (Bapepam) on 14 June
       1995, through letter No. S-759/PM/1995 to list its shares in the Jakarta Stock Exchange and Surabaya Stock Exchange. The Company
       then conducts an Initial Public Offering of 60,000,000 shares with a nominal value of Rp500 per share at the offering price
       of Rp1,800 per share.

       Pada 8 November 1996, Perseroan mendapatkan pernyataan efektif dari Ketua Bapepam melalui Surat No. S-1811/PM/1996
       untuk melakukan Penawaran Umum Terbatas (PUT) I atas 663.000.000 saham dengan nilai nominal sebesar Rp500,- per saham
       dan harga penawaran sebesar Rp750,- per saham. Saat PUT I tersebut, melekat 99.450.000 Waran Seri I yang diterbitkan dengan
       cuma-cuma.
1996
       The Company obtained an effective statement from the Chairman of Capital Market Supervisory Agency (Bapepam) on 8 November
       1996, through Letter No. S-1811/PM/1996, to carry out Right Issue I for 663,000,000 shares with a nominal value of Rp500 per
       share at the offering price of Rp750 per share. In this Right Issue I, as a bonus, shareholders will also be given 99,450,000 Series
       I Warrants.

       Perseroan melakukan reverse stock untuk saham yang telah diterbitkan (saham Seri A) sehingga nilai nominal yang semula
       Rp500,- per saham menjadi Rp5.000,- per saham. Pada 23 Juni 2003, Perseroan mendapatkan pernyataan efektif dari
       Ketua Bapepam melalui Surat No.S-1485/PM/2003 untuk melakukan PUT II dalam rangka penerbitan Hak Memesan Efek
       Terlebih Dahulu (HMETD) atas 2.137.115.520 saham Seri B dengan nilai nominal sebesar Rp100,- per saham dan harga
       penawaran sebesar Rp100,- per saham. Pada setiap 15 saham Seri B yang diterbitkan tersebut, melekat 15 Waran Seri II yang
2003   diberikan oleh Perseroan.
       The Company conducts a reverse stock on Series A Shares, this corporate action changed the nominal value from Rp500 per share to
       Rp5,000 per share. On 23 June 2003, the Company obtained an effective statement from the Chairman of Capital Market Supervisory
       Agency (Bapepam) through letter No. S-1485/PM/2003 to conduct Right Issue II on 2,137,115,520 Series B Shares with a nominal
       value of Rp100 per share at the offering price of Rp100 per share. The Company will give 15 Series II Warrants for each of the
       15 Series B Shares issued.

       Pada 27 Juni 2005, Perseroan mendapatkan pernyataan efektif dari Ketua Bapepam melalui Surat No. S-1691/PM/2005 untuk
       melakukan PUT III dalam rangka penerbitan HMETD atas 991.325.341 saham Seri B dengan nilai nominal Rp100,- per saham.
       Setiap pemegang 500 saham Seri A maupun saham Seri B di Perseroan berhak untuk membeli 174 saham Seri B yang diterbitkan
       tersebut dengan harga pelaksanaan Rp125,- per saham. Pada setiap 1 saham Seri B yang diterbitkan tersebut melekat 1 Waran
       Seri III yang diberikan oleh Perseroan.
2005
       On 27 June 2005, the Company obtained an effective statement from the Chairman of Capital Market Supervisory Agency
       (Bapepam) through letter No. S-1691/PM/2005 to conduct Right Issue III on 991,325,341 Series B Shares with a nominal
       value of Rp100 per share. Each shareholder of 500 Series A Shares and Series B Shares has the right to purchase 174 Series
       B Shares that will be issued at the exercise price of Rp125 per share. Furthermore, each 1 of the newly issued Series B
       Shares will receive 1 Series III Warrants.

       Pada 16 Juni 2008, Perseroan mendapatkan pernyataan efektif dari Ketua Bapepam melalui surat No. S-3859/BL/2008
       untuk melakukan PUT IV dalam rangka penerbitan HMETD atas 966.427.608 saham Seri B dengan nilai nominal Rp100,- per
       saham. Setiap pemegang 10 saham Seri A maupun saham Seri B di Perseroan berhak untuk membeli 2 saham Seri B yang
       diterbitkan tersebut dengan rasio perbandingan 10:2:3 dan harga pelaksanaan Rp100,- per saham. Pada setiap 2 saham
2008   Seri B yang diterbitkan tersebut melekat 3 Waran Seri IV yang diberikan oleh Perseroan secara cuma-cuma.
       On 16 June 2008, the Company obtained an effective statement from the Chairman of Capital Market Supervisory Agency (Bapepam)
       through letter No. S-3859/BL/2008 to conduct Right Issue IV on 966,427,608 Series B Shares with a nominal value of Rp100 per
       share. Each shareholder of 10 Series A Shares and Series B Shares has the right to buy 2 Series B Shares, with a ratio of 10:2:3
       at the exercise price of Rp100 per share. Each of 2 Series B Shares issued will receive 3 Warrants Series IV.

       Berdasarkan Akta Notaris Aryanti Artisari, SH, MKn No. 51 tanggal 20 November 2015 tentang Berita Acara Rapat Umum Pemegang
       Saham Luar Biasa (RUPS Luar Biasa), Pemegang Saham Perseroan menyetujui untuk menerbitkan 623.780.871 saham baru Seri B
       yang berasal dari saham portepel Perseroan dengan nilai nominal Rp100,- melalui Penambahan Modal Tanpa Hak Memesan Efek
       Terlebih Dahulu (PMTHMETD). Pada 22 Desember 2015, Perseroan melaksanakan PMTHMETD sebanyak 119.856.000 saham Seri B
       dengan jumlah dana yang diperoleh sebesar Rp600,00 miliar.
2015
       Based on Notary Deed Aryanti Artisari, SH, MKn No. 51 dated 20 November 2015 concerning Minutes of Extraordinary General
       Meeting of Shareholders (Extraordinary GMS), the Shareholders of the Company agreed to conduct a Private Placement to
       issue 623,780,871 Series B new shares originating from the Company’s shares portfolio with a nominal value of Rp100. On
       22 December 2015, the Company again conducted a Private Placement to issue 119,856,000 Series B Shares, the total fund
       obtained from this Private Placement was to Rp600.00 billion.

       Pada 16 Agustus 2016, Perseroan melaksanakan PMTHMETD sebanyak 10.000.000 saham Seri B dengan jumlah dana yang
       diperoleh sebesar Rp50,06 miliar.
2016
       On 16 August 2016, the Company again conducted a Private Placement of 10,000,000 Series B Shares with the amount of
       funds received was Rp50.06 billion.

       Pada 2 Juni 2017, Perseroan melaksanakan konversi PMTHMTED saham seri B yang telah ditukar menjadi saham sebanyak
       129.856.000 saham sehingga jumlah saham seri A dan seri B sebanyak 6.367.664.717 saham.
2017
       On 2 June 2017, the Company converted series B shares from Private Placement to 129,856,000 shares, bringing the total number
       of Series A and Series B shares to 6,367,664,717 shares.




          Laporan Tahunan 2023
148       2023 Annual Report
Page 151
                                                                              PT SINAR MAS MULTIARTHA TBK




Kebijakan dan Pembagian Dividen
Dividend Policy and Distribution

Kebijakan Dividen                                               Dividend Policy

Pemegang Saham memiliki kewenangan untuk memutuskan             The Shareholders is entitled to decide the distribution of the
atau menetapkan pembagian dividen Perseroan pada saat           Company’s dividend during the GMS. However, the Company
pelaksanaan RUPS. Namun demikian, Pemegang Saham                could delegate that authority to the Board of Directors to
dapat melimpahkan wewenangnya tersebut kepada Direksi           organize, conduct, and carry out necessary actions related
untuk mengatur, melaksanakan, dan menjalankan tindakan-         to the use of the Company’s retained earnings in line with
tindakan yang diperlukan sehubungan dengan penggunaan           the prevailing laws and regulations.
saldo laba Perseroan tersebut sesuai dengan ketentuan
hukum dan peraturan yang berlaku.


Berdasarkan hasil keputusan RUPS Tahun 2023 dan 2022,           According to Annual GMS 2023 and 2022 resolutions,
Perseroan tidak melakukan pembagian dividen kepada              the Company did not distribute any dividend to its
Pemegang Saham. Laba yang tidak dibagikan sebagai               Shareholders. Profit that is not distributed as dividend
dividen dimasukkan ke dalam laba ditahan dan digunakan          will be booked as retained earnings and used as the
sebagai modal kerja Perseroan dan setoran modal/investasi       Company working capital and paid-up capital/ investment
pada Entitas Anak dan asosiasi, baik bagi Entitas Anak yang     at its Subsidiaries and association, both at the new
baru maupun yang sudah ada.                                     and existing Subsidiaries.



Rincian Pembagian Dividen                                       Details of Dividend Distribution

Rincian pembagian dividen Perseroan sejak penawaran             The details of the Company’s dividend distribution since
umum saham perdana pada 5 Juli 1995 diungkapkan sebagai         the shares public offering on 5 July 1995 is described
berikut.                                                        below.


                                                                                                       Rasio Jumlah
                Dividen Tunai               Jumlah Dividen
                                                                      Jumlah Laba Bersih             Dividen terhadap
                  per Saham                 (jutaan Rupiah)
 Tahun                                                                   (jutaan Rupiah)                Laba Bersih
                Cash Dividend                Total Dividend
  Year                                                                  Total Net Income               Dividend Pay
                  per Share                     Amount
                                                                       (in million Rupiah)               Out Ratio
                     (Rp)                 (in million Rupiah)
                                                                                                            (%)

  1995                56                         28,560                       142,242                       20.08

  1996                39                         51,714                       197,979                       26.12

  1999                 5                          7,123                       401,276                        1.78

  2009                 1                          6,182                       700,098                        0.88

  2010                 1                          6,224                     1,277,814                        0.49

  2011                 1                          6,236                     1,974,592                        0.32

  2012                 1                          6,237                     1,567,801                        0.40

  2013                 1                          6,238                     1,122,202                        0.56

  2014                 1                          6,238                     1,213,130                        0.51

  2015                 1                          6,238                      (992,853)                     (0.63)

  2016                 1                          6,358                     1,689,850                        0.38

  2017                 1                          6,358                     1,838,457                        0.35

  2018                 1                          6,358                     1,537,695                        0.41




                                                                                         Laporan Tahunan 2023
                                                                                            2023 Annual Report       149
Page 152
03                 PROFIL PERUSAHAAN
                   Company Profile




Kronologi Pencatatan Obligasi
Chronological Listing of Bonds

Kronologi pencatatan obligasi Perseroan sejak pertama kali                 The Company’s chronological listing of bonds since the
melakukan penawaran umum obligasi di Bursa Efek Indonesia                  first bond public offering at the Indonesia Stock Exchange
diungkapkan sebagai berikut.                                               is described as follows.


                                                                                                              Tingkat
                                                                                                               Bunga
                                                     Total Obligasi                                                      Peringkat
                                                                                           Tanggal Jatuh       Kupon
                    Uraian                          (jutaan Rupiah)    Tanggal Efektif                                    Obligasi
                                                                                              Tempo           Coupon
                  Description                         Total Bonds      Effective Date                                      Bonds
                                                                                           Maturity Date      Interest
                                                    (million Rupiah)                                                       Rating
                                                                                                                Rate
                                                                                                                 (%)

     Obligasi Berkelanjutan I Sinar Mas
     Multiartha Tahap I Tahun 2020 Seri A*)
                                                          55,000       8 September 2020   13 September 2022     8.00              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond I Phase I Year 2020 A Series*)
     Obligasi Berkelanjutan I Sinar Mas
     Multiartha Tahap I Tahun 2020 Seri B*)
                                                          55,000       8 September 2020   8 September 2022      8.50              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond I Phase I Year 2020 B Series*)
     Obligasi Berkelanjutan I Sinar Mas
     Multiartha Tahap I Tahun 2020 Seri C*)
                                                          15,000       8 September 2020   8 September 2023      9.00              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond I Phase I Year 2020 C Series*)
     Obligasi Berkelanjutan I Sinar Mas
     Multiartha Tahap II Tahun 2020 Seri A*)
                                                           1,000       11 November 2020   11 November 2023      9.00              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond I Phase II Year 2020 A Series*)
     Obligasi Berkelanjutan I Sinar Mas
     Multiartha Tahap II Tahun 2020 Seri B*)
                                                         874,000       11 November 2020   11 November 2025     10.25              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond I Phase II Year 2020 B Series*)
     Obligasi Berkelanjutan II Sinar Mas
     Multiartha Tahap I Tahun 2021 Seri A*)
                                                         507,000       7 September 2021   17 September 2022     6.75              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond II Phase I Year 2021 A Series*)
     Obligasi Berkelanjutan II Sinar Mas
     Multiartha Tahap I Tahun 2021 Seri B*)
                                                          79,700       7 September 2021   7 September 2023      8.00              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond II Phase I Year 2021 B Series*)
     Obligasi Berkelanjutan II Sinar Mas
     Multiartha Tahap I Tahun 2021 Seri C
                                                         119,000       7 September 2021   7 September 2024      8.75              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond II Phase I Year 2021 C Series
     Obligasi Berkelanjutan II Sinar Mas
     Multiartha Tahap II Tahun 2022 Seri A*)
                                                         429,350        27 August 2022    6 September 2023      6.75              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond II Phase II Year 2022 A Series*)
     Obligasi Berkelanjutan II Sinar Mas
     Multiartha Tahap II Tahun 2022 Seri B
                                                          13,100        27 August 2022     26 August 2024       8.00              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond II Phase II Year 2022 B Series
     Obligasi Berkelanjutan II Sinar Mas
     Multiartha Tahap II Tahun 2022 Seri C
                                                         305,131        27 August 2022     26 August 2025       9.00              AA
     Sinar Mas Multiartha Sustainable                                                                                        Ir

     Bond II Phase II Year 2022 C Series

*)
     Obligasi telah dilunasi oleh Perseroan.
     The bonds have been redeemed by the Company.




                   Laporan Tahunan 2023
      150          2023 Annual Report
Page 153
                                                                                                        PT SINAR MAS MULTIARTHA TBK




                                                                                                                               Tingkat
                                                                                                                                Bunga
                                                     Total Obligasi                                                                         Peringkat
                                                                                                           Tanggal Jatuh        Kupon
                   Uraian                           (jutaan Rupiah)             Tanggal Efektif                                              Obligasi
                                                                                                              Tempo            Coupon
                 Description                          Total Bonds               Effective Date                                                Bonds
                                                                                                           Maturity Date       Interest
                                                    (million Rupiah)                                                                          Rating
                                                                                                                                 Rate
                                                                                                                                  (%)

 Obligasi Berkelanjutan II Sinar Mas
 Multiartha Tahap II Tahun 2022 Seri D
                                                          1,102,000              27 August 2022             26 August 2026        9.75          AA
 Sinar Mas Multiartha Sustainable                                                                                                              Ir

 Bond II Phase II Year 2022 D Series
 Obligasi Berkelanjutan II Sinar Mas
 Multiartha Tahap III Tahun 2022 Seri A
                                                            580,000              4 October 2022             4 October 2027        9.75          AA
 Sinar Mas Multiartha Sustainable                                                                                                              Ir

 Bond II Phase III Year 2022 A Series
 Obligasi Berkelanjutan II Sinar Mas
 Multiartha Tahap III Tahun 2022 Seri B
                                                          1,080,000              4 October 2022             4 October 2032       10.50          AA
 Sinar Mas Multiartha Sustainable                                                                                                              Ir

 Bond II Phase III Year 2022 B Series
 Obligasi Berkelanjutan II Sinar Mas
 Multiartha Tahap IV Tahun 2023
                                                            784,719               7 March 2023               7 March 2033        10.50          AA
 Sinar Mas Multiartha Sustainable                                                                                                              Ir

 Bond II Phase IV Year 2023
Keterangan / Remarks:
Peringkat Obligasi dicatatkan oleh PT Kredit Rating Indonesia. / Bonds Ratings are recorded by PT Kredit Rating Indonesia.




                                                                                                                    Laporan Tahunan 2023
                                                                                                                       2023 Annual Report           151
Page 154
03            PROFIL PERUSAHAAN
              Company Profile




Lembaga Penunjang Pasar Modal
Capital Market Supporting Institution

                         Akuntan Publik                                                     Konsultan Hukum
                      Public Accountant Firm                                                Legal Consultant
 Mirawati Sensi Idris                                               Lasut Pane & Partners
 (member of Moore Global Network Limited)
 Intiland Tower Lt. 7                                               Jl. Hang Tuah Raya No. 29
 Jl. Jenderal Sudirman Kav. 32                                      Kebayoran Baru
 Jakarta, 10220                                                     Jakarta, 12120
      (021) 570 8012                                                    (021) 720 7359, 720 4279
      (021) 570 8111                                                    (021) 720 4275
 Jasa        : Audit Laporan Keuangan Perseroan.                    Jasa        : Konsultasi perkara hukum Perseroan.
 Services      To audit the Company’s Financial Statements.         Services      To provide consultation about Company’s legal cases.
 Periode     : 2023                  Biaya    : Rp921.956.312,-     Periode     : 2023                   Biaya       : Rp109.000.000,-
 Period                              Cost                           Period                               Cost

                    Biro Administrasi Efek                                               Penjamin Emisi Obligasi
               Securities Administration Bureau                                            Bond Underwriter
 PT Sinartama Gunita                                                PT Sinarmas Sekuritas
 Menara Tekno Lt. 7                                                 Sinarmas Land Plaza Tower 3 Lt. 5-6
 Jl. Fachruddin No. 19                                              Jl. MH Thamrin No. 51
 Jakarta Pusat, 10250                                               Jakarta Pusat, 10350
     (021) 392 2332                                                     (021) 392 5550
     (021) 392 3003                                                     (021) 392 5540/7177
     helpdesk1@sinartama.co.id                                          cs@sinarmassekuritas.co.id
     www.sinartamagunita.com                                            www.sinarmassekuritas.co.id
 Jasa        : Pengelolaan administrasi dan pencatatan pada         Jasa        : Penjamin pelaksana emisi obligasi.
 Services      Pemegang Saham Perseroan.                            Services      Bond lead underwriters.
               To manage the administration and registration
               of the Company’s Shareholders
 Periode     : 2023                  Biaya    : Rp32.500.000,-      Periode     : 2023                   Biaya       : -
 Period                              Cost                           Period                               Cost

                    Penjamin Emisi Obligasi                                                 Pemeringkat Efek
                      Bond Underwriter                                                       Rating Agency
 PT Aldiracita Sekuritas Indonesia                                  PT Kredit Rating Indonesia
 Menara Tekno Lt. 7                                                 Sinar Mas Land Plaza Tower III Lt. 11
 Jl. Fachruddin No. 19                                              Jl. MH Thamrin No. 51 Kav. 22
 Jakarta Pusat, 10250                                               Jakarta Pusat 10350
     (021) 3970 5858                                                    (021) 3983 4411
 (021) 3970 5850
     www.aldiracita.com
 Jasa        : Penjamin pelaksana emisi obligasi.                   Jasa        : Pemeringkat obligasi yang diterbitkan Perseroan.
 Services      Bond lead underwriters.                              Services      Assign rating to bonds issued by the Company.
 Periode     : 2023                  Biaya    : Rp4.276.718.550,-   Periode     : 2023                   Biaya       : Rp538.337.484,-
 Period                              Cost                           Period                               Cost

                                 Notaris                                                       Wali Amanat
                                 Notary                                                          Trustee
 Aulia Taufani, SH                                                  PT Bank KB Bukopin Tbk
 Menara Sudirman Lt. 17                                             Gedung Bank Bukopin Lt. 8
 Jl. Jenderal Sudirman Kav. 60                                      Jl. MT Haryono Kav. 50-51
 Jakarta, 12190                                                     Jakarta Selatan, 12770
      (021) 5289 2366                                                   (021) 798 0640
      (021) 520 4780                                                    (021) 798 0705
 Jasa        : Pembuatan akta Perseroan.                            Jasa        : Perwakilan Pemegang Obligasi.
 Services      To prepare and issue the Company’s deeds.            Services      Representative of Bond Holders
 Periode     : 2023                  Biaya    : Rp49.595.000,-      Periode     : 2023                   Biaya       : Rp874.284.984,-
 Period                              Cost                           Period                               Cost

Total biaya yang dikeluarkan Perseroan untuk Penjamin                 Total expense spent by the Company for Bond Underwriter,
Emisi Obligasi, Profesi Penunjang Pasar Modal, Lembaga                Capital Market Supporting Profession, Capital Market
Penunjang Pasar Modal, dan biaya lain-lain di tahun 2023              Supporting Agencies,         and      other   expenses   in    2023
sebesar Rp6,80 miliar.                                                reached Rp6.81 billion.




              Laporan Tahunan 2023
  152         2023 Annual Report
Page 155
                                                                           PT SINAR MAS MULTIARTHA TBK




Informasi pada Situs Web Perseroan
Information on the Company’s Website




Seluruh informasi terkini dan relevan terkait Perseroan     All of the latest and relevant information related to
dipublikasikan pada situs web (www.smma.co.id) yang         the Company is published in website www.smma.co.id
pengungkapannya telah disesuaikan dengan ketentuan          whose disclosure is in line with the provision of Financial
Peraturan Otoritas Jasa Keuangan No. 8/POJK.04/2015         Services Authority Regulation No. 8/POJK.04/2015
tentang Situs Web Emiten atau Perusahaan Publik.            regarding the Issuer and Public Company Website.


                                        Profil                        Bisnis                     Keuangan
                                        Profile                      Business                Financial Highlight

                             • Ikhtisar                    • Laporan Tahunan             • Riwayat Harga Saham
                               Overview                      Annual Report                 Share Price History
                             • Visi & Misi                 • Laporan Keuangan            • Riwayat Dividen
                               Vision & Mission              Financial Highlight           Dividend History
                             • Penghargaan                 • Pernyataan Keuangan         • Komposisi Pemegang Saham
                               Award                         Financial Statement           Shareholder Compositions
                             • Dewan Komisaris             • Paparan Publik
                               Board of Commissioners        Public Expose
          Beranda            • Direksi
           Home                Board of Directors
                             • Komite Audit
                               Audit Committee


                                 Hubungan Investor                    Berita
                                  Investor Relation                   News
                                                                                                Hubungi Kami
                             • Informasi Anak Perusahaan   • Perusahaan
                                                                                                 Contact Us
                               Subsidiaries Information      Corporate News
                             • Teknologi Informasi         • Anak Perusahaan
                               Technology Information        Subsidiaries News




                                                                                   Laporan Tahunan 2023
                                                                                      2023 Annual Report       153
Page 156
03           PROFIL PERUSAHAAN
             Company Profile




Sumber Daya Manusia
Human Resources

Sumber Daya Manusia (SDM) memiliki peran besar dalam                   Human Resources (HR) plays a fundamental role in
meningkatkan produktivitas usaha dalam jangka panjang.                 improving long-term business productivity. Therefore, the
Maka dari itu, Perseroan berkomitmen untuk menghasilkan                Company is committed to produce quality employees and
karyawan yang berkualitas dan memfasilitasi karyawan dalam             facilitating them in developing their capabilities and skills.
mengembangkan kemampuan dan keahlian yang dimiliki.



Pengelolaan SDM                                                        HR Management

Pengelolaan SDM Perseroan menggunakan metode capacity                  The Company’s HR management is carried out under the
building dengan memetakan kompetensi, pendidikan                       capacity building method by mapping competence, continuous
berkelanjutan, penilaian kinerja, dan pengembangan karier.             education, performance assessment, and career development.


                                                          Vision & Mission




                                                                RJPP
             Retirement                                                                                 Man Power Planning




    Salary, Reward, and Sanctions             Competition Based Human Resources                         Selection Recruitment




          Assessment Work                                                                            Education and Development
                                                           Career System




Rekrutmen                                                              Recruitment

Rekrutmen karyawan dilakukan Perseroan guna memenuhi                   The Company carried out the employee recruitment to fill an
kebutuhan SDM yang unggul dan berkualitas. Proses                      excellence and qualified HR’s needs. Anyone can participate the
rekrutmen dapat diikuti oleh siapa pun, baik fresh graduate            recruitment process, either a fresh graduate or experienced,
ataupun insan yang telah berpengalaman, selama sesuai                  as long as they meet the required qualification. The Company
dengan kualifikasi yang dibutuhkan. Perseroan juga senantiasa          also continuously makes sure that the recruitment process
memastikan proses rekrutmen tersebut dilaksanakan                      is carried out objectively, transparently and upholds anti-
secara objektif dan transparan serta menjunjung tinggi                 discrimination principles.
prinsip anti-diskriminasi.


Proses rekrutmen Perseroan dan Entitas Anak dilakukan                  The recruitment process of the Company and its Subsidiaries is
secara langsung oleh pihak internal perusahaan dengan cara:            carried out by the Company’s internal party by way of:
1. Berkolaborasi dengan universitas-universitas terbaik di             1. Collaborating with the best universities in Indonesia;
    Indonesia;                                                         2. Participating in various job fair; and
2. Berpartisipasi dalam berbagai bursa kerja (job fair); dan           3. Utilizing Subsidiaries’ career website and other job seeker’s
3. Situs web karier Entitas Anak dan situs web pencari                     website such as Jobstreet.
    kerja, seperti Jobstreet.


Selain itu, kebutuhan SDM Perseroan dan Entitas Anak juga              In addition, HR needs of the Company and its Subsidiaries
dipenuhi dengan menjalin kerja sama dengan pihak eksternal,            is also met by collaborating with external parties such as
yakni seperti jasa penyedia tenaga kerja (outsourcing).                outsourcing provider.




             Laporan Tahunan 2023
  154        2023 Annual Report
Page 157
                                                                                       PT SINAR MAS MULTIARTHA TBK




Komposisi SDM                                                            HR Composition

Total karyawan Perseroan untuk tahun 2023 dan 2022                       The number of Company employees in 2023 and 2022 was 56
masing-masing tercatat sejumlah 56 orang dan 50 orang.                   and 50, respectively. In terms of the total number of employees
Sementara untuk jumlah karyawan gabungan Grup, secara                    in the Group, there were 8,983 and 10,432 people, respectively.
berturut-turut tercatat sebanyak 8.983 dan 10.432 orang.


Sementara itu, Perseroan senantiasa memperhatikan                        The Company continuously monitor the proportion of
proporsi     komposisi     karyawan       berdasarkan     jenis          employee composition based on gender, employment status,
kelamin,    status     kepegawaian,     tingkat   pendidikan,            position level, age and main activities as described below.
level jabatan, usia, dan aktivitas utama sebagai berikut.


KOMPOSISI KARYAWAN PERSEROAN BERDASARKAN JENJANG PENDIDIKAN
Company Employee Composition Based on Education

                      Uraian                       2023           2022         2021                      Description

 Pasca Sarjana (S2)                                  11            10           10                               Post Graduate Degree

 Sarjana (S1)                                        41            36           27                                     Bachelor Degree

 Sarjana Muda/Diploma                                 1             2             2                                           Diploma

 SMU                                                  3             2             2                                 Senior High School

 Total                                               56            50           41                                               Total




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report         155
Page 158
03            PROFIL PERUSAHAAN
              Company Profile




KOMPOSISI KARYAWAN PERSEROAN BERDASARKAN JENJANG MANAJEMEN
Company Employee Composition Based on Management Level

                   Uraian            2023      2022   2021                  Description

Dewan Komisaris dan Direksi           10        11       9   Board of Commissioners and Board of Directors
Manajer                                2         5       5                                       Manager
Supervisor                             7         3       3                                     Supervisor
Staf                                  37        31     24                                            Staff
Total                                 56        50     41                                           Total


KOMPOSISI KARYAWAN PERSEROAN BERDASARKAN JENJANG USIA
Company Employee Composition Based on Age

                   Uraian            2023      2022   2021                  Description

≥ 50 tahun                            10         9       8                                  ≥ 50 years old
40-49 tahun                            7         8       8                                 40-49 years old
30-39 tahun                            5         6       5                                 30-39 years old
≤ 29 tahun                            34        27     20                                   ≤ 29 years old
Total                                 56        50     41                                           Total


KOMPOSISI KARYAWAN PERSEROAN BERDASARKAN STATUS
Company Employee Composition Based on Status

                   Uraian            2023      2022   2021                  Description

Tetap                                 56        50     41                                      Permanent
Tidak Tetap                            -         -       -                                Non-Permanent
Total                                 56        50     41                                           Total




              Laporan Tahunan 2023
  156         2023 Annual Report
Page 159
                                                                PT SINAR MAS MULTIARTHA TBK




KOMPOSISI KARYAWAN PERSEROAN BERDASARKAN JENIS KELAMIN
Company Employee Composition Based on Gender

                    Uraian           2023      2022     2021                 Description

Pria                                  38        40       32                                            Male

Wanita                                18        10         9                                         Female

Total                                 56         50       41                                           Total


KOMPOSISI KARYAWAN PERSEROAN BERDASARKAN AKTIVITAS UTAMA
Company Employee Composition Based on Main Activities

                    Uraian           2023      2022     2021                 Description

Keuangan dan Akuntansi                 2         1        1                       Financing and Accounting

Audit Internal                         1         1        1                                    Internal Audit

Legal                                  1         1        1                                            Legal

Teknologi Informasi (TI)              41        30       22                     Information Technology (IT)

Satuan Kerja Lainnya                  12        17       17                                Other Work Units

Total                                 56        50       41                                            Total


TINGKAT PERPUTARAN KARYAWAN
Turnover Rate

                    Uraian           2023      2022     2021                 Description

Karyawan Keluar                            7     21       12                             Leaving Employee

Total Karyawan                         56        50       41                                Total Employee

Tingkat Perputaran Karyawan (%)      13.21     46.15    31.17                           Turnover Rate (%)




                                                                       Laporan Tahunan 2023
                                                                          2023 Annual Report         157
Page 160
03             PROFIL PERUSAHAAN
               Company Profile




Pengembangan Kualitas                                                  Quality Development

Pengembangan kualitas SDM dilakukan Perseroan dan Entitas              The Company develops its HR quality by enrolling the
Anak dengan mengikutsertakan karyawan dalam berbagai                   employees to various competency development programs,
program pengembangan kompetensi, seperti training inhouse,             such as inhouse training, coaching, professional, professional
coaching, profesional, gelar keprofesian dan seminar/workshop          degree and seminar/workshop of various field in need.
dari berbagai bidang yang dibutuhkan. Program tersebut juga            These programs are also expected to meet Company’s
diharapkan mampu memenuhi kebutuhan Perseroan dan                      need for reliable and competitive human resources.
Entitas Anak akan SDM yang andal dan kompetitif.


Adapun program pengembangan kompetensi yang                            The competency development program held by the
diselenggarakan Entitas Anak Perseroan selama tahun 2023,              Company’s Subsidiaries throughout 2023 is described as
diungkapkan sebagai berikut.                                           follows.


         Tanggal                      Program Pengembangan Kompetensi                                    Penyelenggara
          Date                         Competency Development Program                                      Organizer
                                                   PT Asuransi Sinar Mas (ASM)
11-13 January 2023          IT Security Audit                                                           Proxis Global Solusi
                            Winning Customer Experience Through Understanding
6-7 March 2023                                                                                               Markplus
                            Customer Journey
29-31 March 2023            Enhancing Leadership & Communication Skill                                       Markplus
                            CDP Series “Advance Learning Program in Wealth
4 April-19 September 2023                                                                         PT Maesa Consulting Indonesia
                            Management”
                            Training Akuntansi Syariah
23-31 May 2023                                                                                      Media Edutama Indonesia
                            Sharia Accounting Training
                                                                                                  Persatuan Aktuaris Indonesia
20-23 June 2023             The Asia Pacific PAI SOA Joint Symposium
                                                                                                 Society of Actuaries of Indonesia
10-11 July 2023             People in Harmony                                                             Mega & Mauro
11 July 2023                ADP MSDM                                                                  LSP MSDM Unggul Idn
28 August 2023              Cyber Risk by AON                                                                  AON
                                                                                                Asosiasi Asuransi Umum Indonesia
18-19 September 2023        Financial Impact Analyst
                                                                                             General Insurance Association of Indonesia
23 September 2023           Seminar The Art of Closing in Hybrid Era                                     Indra Hadiwidjaja

4 October 2023              Training Compensation and Benefit                                            CV Prima Sinergi

                            Data Requirement dan Saldo Awal                                     Asosiasi Asuransi Umum Indonesia
19-20 October 2023
                            Data Requirement and Beginning Balance                           General Insurance Association of Indonesia
                            Cara Mudah Mengagresikan Risiko Organisasi
3 November 2023                                                                                  GRC Tangguh Management PAM
                            How To Easily Aggregate Organizational Risks
                                                                                                Asosiasi Asuransi Umum Indonesia
14 November 2023            Measurement Model & Reinsurance Contract
                                                                                             General Insurance Association of Indonesia


Alokasi dana yang digunakan ASM untuk mendukung                        \Allocated fund used by ASM to support its HR development
pengembangan SDM di tahun 2023 mencapai Rp13.561.000.000,-             in 2023 reached Rp13.561.000.000,-


Sementara itu, pengembangan kompetensi yang dilaksanakan               Meanwhile, competency development conducted by
Danamas selama tahun 2023, di antaranya:                               Danamas throughout 2023, includes:
1. Training Anti Pencucian Uang (APU) dan Pencegahan                   1. Anti-Money Laundering (AML) and Combating the
   Pendanaan Terorisme (PPT);                                             Financing of Terrorism (CFT) Training;
2. Training ISO Awareness Training; dan                                2. ISO Awareness Training; and
3. Training Objective Key Result.                                      3. Objective Key Result Training.



Penilaian Kinerja                                                      Performance Assessment

Penilaian kinerja karyawan dilakukan setahun sekali oleh               The employee performance assessment is carried out
pimpinan SDM sebagai landasan dalam memperbaiki                        once a year by head of HR as basis for improving HR
kinerja SDM. Penilaian kinerja tersebut dilakukan dengan               performance. The performance assessment is done using




               Laporan Tahunan 2023
  158          2023 Annual Report
Page 161
                                                                                 PT SINAR MAS MULTIARTHA TBK




metode key performance. Hasil penilaian kinerja selanjutnya        key performance method. The performance assessment
menjadi bahan evaluasi dan pertimbangan bagi Perseroan             result is then used as evaluation material and consideration
dalam memberikan penghargaan, bonus dan remunerasi,                for the Company to give awards, bonuses, remuneration,
kesempatan pengembangan karier, serta pemberian sanksi.            career development opportunities, and to impose a sanction.



Pengembangan Karier                                                Career Development

Perseroan mempersiapkan berbagai program pengembangan              The Company provides various career development
karier bagi seluruh karyawan yang telah memenuhi kualifikasi       programs for all employees who meet the qualifications
yang telah ditentukan. Pengembangan karier tersebut                established. This career development is carried out based
dilakukan berdasarkan kriteria penilaian yang jelas dan terukur,   on clear, measurable, fair, and responsible assessment
serta adil dan bertanggung jawab. Selain itu, beberapa hal yang    criteria. Consideration is also given to the employee’s work
diperhatikan dalam pelaksanaan program pengembangan                performance and competence as well as the Company’s
karier, antara lain prestasi kerja dan kompetensi karyawan,        business growth when carrying out the career development
serta pertumbuhan usaha Perseroan.                                 program.



Remunerasi dan Kesejahteraan                                       Remuneration and Welfare

Sebagai bentuk apresiasi dan upaya dalam memenuhi                  As an appreciation and an effort of meeting employee’s
hak karyawan, Perseroan menjamin kesejahteraan SDM                 rights, the Company ensures its HR welfare by providing
melalui pemberian remunerasi serta pemenuhan sarana                remuneration and fulfilling the facilities and infrastructures,
dan prasarana kerja yang sesuai dengan ketentuan yang              align with the applicable provision in employment field.
berlaku di bidang ketenagakerjaan. Perseroan menerapkan            The Company adopted a competitive remuneration policy
kebijakan remunerasi yang kompetitif untuk memacu                  to boost employee morale. Remuneration is provided
semangat kerja karyawan. Remunerasi diberikan dalam                in the form of basic salary, allowance, and bonus, in
bentuk gaji pokok, tunjangan, dan bonus, sesuai dengan             line with the level in a similar industry and applicable
tingkatan di industri sejenis dan peraturan yang berlaku.          regulations.


Perseroan juga senantiasa memastikan kenyamanan dan                The Company also continuously ensures the employees’
keamanan karyawan dalam bekerja, serta memberikan                  convenience and safety at work, as well as providing benefits
benefit yang diterima selama masa kerja, seperti mengelola         such as medical reimbursement as a commitment to the
penggantian biaya pengobatan sebagai komitmen atas                 health insurance program during their working period. In
program jaminan kesehatan. Selain itu, hubungan yang               addition, a harmonious relationship is also constantly built
harmonis juga senantiasa dibangun melalui pelaksanaan              by conducting various activities aiming to foster a sense of
berbagai kegiatan yang bertujuan untuk memupuk                     solidarity among employees, such as employee gathering
rasa solidaritas antar karyawan, seperti acara gathering.          events.



Rencana Pengembangan Pengelolaan                                   HR Management Development
SDM 2024                                                           Plan 2024

Pengelolaan SDM senantiasa dievaluasi secara berkala               HR management is evaluated periodically as a basis
sebagai landasan dalam penyusunan rencana pengembangan             for preparing HR management development plan in
pengelolaan SDM di tahun berikutnya. Rencana tersebut disusun      the following year. This plan is designed by considering
dengan mempertimbangkan ketersediaan SDM yang dimiliki             the availability of existing HR and the development of
serta perkembangan peraturan perundang-undangan terkait            employment-related laws and regulations. In 2024, the
ketenagakerjaan. Pada tahun 2024, pengelolaan SDM Perseroan        Company will focus its HR management on improving
akan berfokus pada peningkatan kualitas karyawan melalui           employee quality through various competence programs,
berbagai program kompetensi, penyempurnaan peraturan dan           improvement of HR regulations and policies, and evaluating
kebijakan SDM, serta evaluasi terhadap kecukupan SDM.              HR adequacy.




                                                                                           Laporan Tahunan 2023
                                                                                              2023 Annual Report         159
Page 162
01

02

03

      04
05

06




      ANALISIS DAN
      PEMBAHASAN MANAJEMEN

      Laporan Tahunan 2023
160   2023 Annual Report
Page 163
Management Discussion and Analysis



                   Laporan Tahunan 2023
                      2023 Annual Report   161
Page 164
04              ANALISIS DAN PEMBAHASAN MANAJEMEN
                Management Discussion and Analysis




Tinjauan Ekonomi
Economic Overview

                                                                              Sepanjang tahun 2023, perekonomian global dihadapkan
                                                                              pada kondisi yang penuh dinamika dan tantangan.
                                                                              Peningkatan fragmentasi geopolitik yang masih berlangsung
                                                                              perang Rusia-Ukraina dan konflik Hamas-Israel, pengetatan
                                                                              likuiditas global hingga perubahan iklim. Hal-hal tersebut
                                                                              menimbulkan konsekuensi bagi perdagangan dan investasi,
                                                                              yang pada gilirannya berpengaruh terhadap prospek
                                                                              pertumbuhan ekonomi.



                                                                              Throughout 2023, the global economic landscape was
                                                                              characterized by dynamic and challenging conditions. Factors
                                                                              such as ongoing geopolitical fragmentation, notably the
                                                                              Russia-Ukraine war and the Hamas-Israel conflict, tightening
                                                                              global liquidity, and climate change all contributed to these
                                                                              challenges. These factors had consequential impacts on
                                                                              global trade and investment, subsequently influencing the
                                                                              trajectory of economic growth.




Pertumbuhan ekonomi global pada tahun 2023 melemah                            The global economy in 2023 experienced a downturn, with
dan disertai divergensi pertumbuhan antarnegara yang                          an evident widening divergence in growth rates across
makin melebar. ekonomi global tumbuh sebesar 3,0%,                            nations. The global economy registered a growth of 3.0%,
menurun dari tahun 2022 yang tercatat 3,5%, serta                             marking a decline from the 3.5% growth observed in 2022.
diprakirakan akan terus melambat hingga 2024 menjadi                          This trend is projected to continue into 2024, with an
2,8%. Melemahnya ekonomi global juga merupakan dampak                         anticipated slowdown to 2.8%. The deceleration of the global
dinamika negara-negara maju, seperti Amerika Serikat                          economy was also influenced by the economic dynamics in
dengan masalah inflasi yang berada di atas target, tingginya                  developed countries, particularly the United States, where
suku bunga, dan peningkatan tekanan fiskal.                                   inflation rates exceeded targets, interest rates were high,
                                                                              and fiscal pressures were mounting.


Meskipun di tengah perlambatan ekonomi global, Indonesia                      Despite the backdrop of a slowing global economy, Indonesia
pada tahun 2023 menunjukkan capaian positif. Berdasarkan                      demonstrated resilience and positive performance in 2023.
data Badan Pusat Statistik (BPS) ekonomi Indonesia tumbuh                     Data from Statistics Indonesia (BPS) indicates that Indonesia’s
sebesar 5,05% sedikit lebih rendah dari tahun sebelumnya                      economy expanded by 5.05%, albeit slightly lower than the
yang mencapai 5,31%. Pertumbuhan ekonomi nasional                             5.31% growth observed in the previous year. This growth in
ditopang oleh permintaan domestik terutama konsumsi                           the national economy was underpinned by robust domestic
rumah tangga tercatat sebesar 2,55%, pembentukan modal                        demand, particularly household consumption, which was
tetap bruto (PMTB) sebesar 1,38%, serta ekspor barang dan                     recorded at 2.55%. Other significant contributors included
jasa sebesar 0,66%.                                                           gross fixed capital formation (PMTB) at 1.38% and exports of
                                                                              goods and services at 0.66%.

Sumber:                                                                       Sources:
• Laporan Perekonomian Indonesia 2023 - Bank Indonesia; dan                   • Indonesia Economic Report 2023 – Bank Indonesia; and
• Berita Resmi Statistik No. 13/02/Th. XXVII, 5 Februari 2024 - Badan Pusat   • Official Statistics News No. 13/02/Th. XXVII, 5 February 2024 – Statistics
  Statistik.                                                                    Indonesia.




                Laporan Tahunan 2023
   162          2023 Annual Report
Page 165
                                                                                           PT SINAR MAS MULTIARTHA TBK




Tinjauan Industri
Industry Overview




Pada tahun 2023, perekonomian Indonesia masih                             In 2023, the Indonesian economy demonstrated its
menunjukkan ketangguhan, di tengah badai ekonomi global.                  robustness amidst a volatile global economic landscape.
Pertumbuhan ekonomi Indonesia sedikit melebihi proyeksi                   The nation’s economic growth slightly exceeded the
pemerintah sebesar 5%. Bank Indonesia juga terus berupaya                 government’s projection of 5%. Bank Indonesia continued
mengoptimalkan     kebijakan   makroprudensial      untuk                 to optimize its macroprudential policies to stimulate the
mendorong berlanjutnya peningkatan kredit/pembiayaan                      growth of credit and financing, thereby accelerating the
guna mengakselerasi pemulihan ekonomi nasional.                           recovery of the national economy.


Kondisi tersebut berdampak positif bagi sektor jasa keuangan              This condition had a positive impact on the financial services
yang tumbuh sebesar 4,77%. Selain itu, kredit perbankan                   sector, which registered a growth of 4.77%. Banking credit
hingga Desember 2023 tercatat tumbuh sebesar 10,38%                       recorded a year-on-year growth of 10.38% in December
(yoy) didorong oleh permintaan pembiayaan yang mulai                      2023, driven by an increasing demand for financing, in
meningkat, sejalan dengan kinerja korporasi yang tumbuh                   line with the robust performance of corporations. Credit
baik. Pertumbuhan penyaluran kredit turut meningkat,                      disbursement also increased, particularly in investment
terutama pada kredit investasi dan kredit modal kerja.                    credit and working capital credit.


Sementara itu, per 28 Desember 2023, Otoritas Jasa                        Meanwhile, on 28 December 2023, the Financial Services
Keuangan merilis surat Pernyataan Efektif atas Pernyataan                 Authority issued an Effective Statement on the Registration
Pendaftaran dalam rangka Penawaran Umum untuk 211                         Statement in the context of a Public Offering for
penawaran umum dengan total emisi sebesar Rp247,06                        211 public offerings with a total emission of Rp247.06 trillion.
triliun. Penghimpunan dana securities crowdfunding (SCF)                  Funds raised through securities crowdfunding (SCF) also
juga terus bertambah. SCF telah berhasil dimanfaatkan oleh                continued to increase. SCF has been successfully utilized
493 pelaku usaha kecil dan menengah (UKM), dengan total                   by 493 small and medium enterprises (SMEs), with total
dana yang dihimpun sebesar Rp1,04 triliun dari 167.788                    funds raised of Rp1.04 trillion from 167,788 investors
pemodal, melalui 16 platform penyelenggara SCF.                           through 16 SCF platforms.

Sumber:                                                                   Sources:
• Laporan Perekonomian Indonesia 2023 - Bank Indonesia; dan               • Indonesia Economic Report 2023 – Bank Indonesia; and
• Siaran Pers: Pasar Modal Indonesia Tumbuh di Tengah Dinamika Global,    • Press Release: Indonesian Capital Market Grows Amidst Global Dynamics,
  Penutupan Perdagangan Bursa Efek Indonesia Tahun 2023 - Otoritas Jasa     Closing of Indonesia Stock Exchange Trading in 2023 – Financial Services
  Keuangan.                                                                 Authority.




                                                                                                      Laporan Tahunan 2023
                                                                                                         2023 Annual Report               163
Page 166
04           ANALISIS DAN PEMBAHASAN MANAJEMEN
             Management Discussion and Analysis




Tinjauan Operasional
Operational Overview

Strategi Pengembangan Usaha                                   Business Development Strategy
Tahun 2023                                                    of 2023

Strategi pengembangan usaha yang dilakukan Perseroan          The Company’s business development strategy to support
untuk mendukung pencapaian kinerja di tahun 2023              the performance achievement in 2023 is as follows:
diungkapkan sebagai berikut.
1. Meningkatkan sinergi dan kerja sama strategis di antara    1. Improving synergy and strategic cooperation among
    Entitas Anak.                                                Subsidiaries.
2. Melakukan investasi pada sektor strategis dan mendorong    2. Investing in strategic sectors and promoting effectiveness
    efektivitas, serta efisiensi Perseroan dan Entitas Anak      and efficiency in the Company and Subsidiaries to
    sehingga dapat meningkatkan laba konsolidasi.                increase consolidated profits.
3. Mencari terobosan-terobosan baru dalam perkembangan        3. Looking for new breakthroughs in business development
    usaha seiring dengan perkembangan perekonomian               in line with economic development by continuously
    dengan senantiasa kualitas dan pengalaman para               improving the quality and experience of employees and
    karyawan dan tim manajemen untuk menyongsong                 management team to meet future challenges.
    tantangan di masa depan.
4. Meningkatkan sistem teknologi informasi sesuai dengan      4. Improving information technology systems following
    perkembangan dan kebutuhan usaha, serta dapat                business developments and needs, as well as creating
    menciptakan peluang usaha baru, seperti e-bisnis.            new business opportunities, such as e-business.
5. Meningkatkan teknologi informasi melalui program           5. Improving information technology through sustainable
    yang berkelanjutan, meliputi pengintegrasian berbagai        programs, including integrating the Company’s various
    aktivitas Perseroan demi peningkatan efisiensi dan           activities to achieve continuous improvement of
    efektivitas yang berkelanjutan.                              efficiency and effectiveness.



Tinjauan Segmen Usaha                                         Business Segment Overview

Informasi segmen usaha Perseroan yang disajikan dalam         Information on the Company’s business segments presented
Laporan Tahunan ini, meliputi:                                in this Annual Report includes:
1. Underwriting asuransi;                                     1. Insurance underwriting;
2. Pembiayaan konsumen, piutang sewa pembiayaan, dan          2. Consumer financing, finance lease receivables, and
    anjak piutang;                                                factoring;
3. Jasa biro administrasi efek;                               3. Securities administration bureau services;
4. Jasa penjaminan emisi dan perantara pedagang efek,         4. Securities underwriting and brokerage services, as well
    serta jasa manajer investasi;                                 as investment manager services;
5. Perbankan; serta                                           5. Banking; and
6. Pembangunan, perdagangan, dan jasa.                        6. Development, trade, and services.




             Laporan Tahunan 2023
  164        2023 Annual Report
Page 167
                                                                                        PT SINAR MAS MULTIARTHA TBK




Underwriting Asuransi                                                Insurance Underwriting

                                                           (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                          Pertumbuhan
               Uraian                   2023           2022                  Growth                                   Description
                                                                         Rp                 %

 Pendapatan                           19,083,572     25,733,198     (6,649,626)          (25.84)        Income
 Beban Operasional                    18,103,821     25,058,948     (6,955,127)          (27.76)        Operating Expenses
 Laba Sebelum Pajak                      979,751       674,250          305,501            45.31        Profit Before Tax
 Beban Pajak                             (24,647)     (176,535)        (151,888)         (86.04)        Tax Expense
 Laba Bersih                             955,104       497,715          457,389            91.90        Net Profit
 Aset                                 42,056,057     46,488,225     (4,432,168)            (9.53)       Assets
 Liabilitas                           35,742,970     40,352,599     (4,609,629)          (11.42)        Liabilities



Pada tahun 2023, pendapatan dan beban operasional                    In 2023, income and operating expenses of the insurance
underwriting asuransi tercatat sebesar Rp19,08 triliun dan           underwriting segment were recorded at Rp19.08 trillion
Rp18,10 triliun mengalami penurunan Rp6,65 triliun dan               and Rp18.10 trillion, respectively. This segment’s income
Rp6,96 triliun, dari Rp25,73 triliun dan Rp25,06 triliun di          was down Rp6.65 trillion from the Rp25.73 trillion
tahun 2022. Meskipun demikian, laba bersih meningkat                 recorded in 2022 while operating expenses decreased by
Rp457,39 miliar atau 91,90% menjadi Rp955,10 miliar, dari            Rp6.96 trillion from the previous year’s Rp25.06 trillion.
semula Rp497,72 miliar yang dipengaruhi oleh menurunnya              However, net profit increased by Rp457.39 billion, or
beban pajak sebesar Rp151,89 miliar. Sementara itu, aset             91.90%, from Rp497.72 billion to Rp955.10 billion. This
dan liabilitas segmen ini menurun, masing-masing sebesar             increase in net profit was due to a decrease in tax expense of
Rp4,43 triliun dan Rp4,61 triliun, dari semula Rp46,49 triliun       Rp151.89 billion. Meanwhile, both the assets and liabilities of
dan Rp40,35 triliun di tahun 2022 menjadi Rp42,06 triliun            this segment decreased. Assets decreased by Rp4.43 trillion,
dan Rp35,74 triliun di tahun 2023.                                   from Rp46.49 trillion in 2022 to Rp42.06 trillion in 2023, and
                                                                     liabilities decreased by Rp4.61 trillion, from Rp40.35 trillion
                                                                     in 2022 to Rp35.74 trillion in 2023.


Pembiayaan Konsumen, Piutang Sewa                                    Consumer Financing, Finance Lease
Pembiayaan, dan Anjak Piutang                                        Receivables, and Factoring

                                                           (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                          Pertumbuhan
               Uraian                   2023           2022                  Growth                                   Description
                                                                         Rp                 %

 Pendapatan                            1,261,622       975,185         286,437             29.37        Income
 Beban Operasional                     1,676,913     1,273,232         403,681             31.71        Operating Expenses
 Laba (Rugi) Sebelum Pajak             (415,291)     (298,047)         117,244             39.34        Profit (Loss) Before Tax
 Beban Pajak                            (11,200)       (57,124)        (45,924)          (80.39)        Tax Expense
 Laba (Rugi) Bersih                    (426,491)     (355,171)           71,320            20.08        Net Profit (Loss)
 Aset                                  6,911,559     7,954,778     (1,043,219)           (13.11)        Assets
 Liabilitas                            5,464,603     7,071,708     (1,607,105)           (22.73)        Liabilities




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report                 165
Page 168
04             ANALISIS DAN PEMBAHASAN MANAJEMEN
               Management Discussion and Analysis




Pendapatan dan beban operasional segmen pembiayaan                    In 2023, income and operating expenses of the consumer
konsumen, piutang sewa pembiayaan, dan anjak piutang                  financing, finance lease receivables, and factoring
tercatat meningkat, masing-masing sebesar Rp286,44 miliar             segment recorded an increase of Rp286.44 billion and
dan Rp403,68 miliar, dari Rp975,19 miliar dan Rp1,27 triliun          Rp403.68 billion, respectively, rising from Rp975.19 billion
di tahun 2022 menjadi Rp1,26 triliun dan Rp1,68 triliun di            and Rp1.27 trillion in 2022 to Rp1.26 trillion and
tahun 2023. Beban pajak tercatat mengalami kenaikan                   Rp1.68 trillion in 2023. Tax expense also recorded an increase
sebesar Rp117,24 miliar, menjadikan segmen ini mengalami              of Rp117.24 billion, resulting in a net loss of Rp426.49 billion
rugi bersih sebesar Rp426,49 miliar di tahun 2023, meningkat          for this segment in 2023, an increase of Rp71.32 billion
Rp71,32 miliar atau 20,08% dari Rp355,17 miliar di tahun              or 20.08% from Rp355.17 billion in the previous year.
sebelumnya. Aset dan liabilitas tercatat turut mengalami              Both assets and liabilities also recorded a decrease, from
penurunan, masing-masing dari Rp7,95 triliun dan                      Rp7.95 trillion and Rp7.07 trillion to Rp6.91 trillion and
Rp7,07 triliun menjadi Rp6,91 triliun dan Rp5,46 triliun.             Rp5.46 trillion, respectively.


Jasa Biro Administrasi Efek                                           Securities Administration Bureau Services

                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                           Pertumbuhan
               Uraian                    2023          2022                   Growth                                   Description
                                                                          Rp                 %
 Pendapatan                              12,425         15,113          (2,688)           (17.79)        Income
 Beban Operasional                         6,439         6,375                64             1.00        Operating Expenses
 Laba Sebelum Pajak                        5,986         8,738          (2,752)           (31.49)        Profit Before Tax
 Beban Pajak                               (405)           (69)             336           486.96         Tax Expense
 Laba Bersih                               5,581         8,669          (3,088)           (35.62)        Net Profit
 Aset                                   347,631        269,141           78,490             29.16        Assets
 Liabilitas                                3,956         5,825          (1,869)           (32.09)        Liabilities

Pada tahun 2023, pendapatan segmen jasa biro administrasi             In 2023, the income of the securities administration
efek tercatat sebesar Rp12,43 miliar, menurun Rp2,69 miliar           bureau services segment was recorded at Rp12.43 billion,
atau 17,79% dari semula Rp15,11 miliar di tahun 2022.                 a decrease of Rp2.69 billion or 17.79% from Rp15.11 billion
Sementara itu, beban operasional dan beban pajak meningkat,           in 2022. Meanwhile, operating expenses and tax expenses
masing-masing sebesar Rp64 juta dan Rp336 juta, dari                  increased by Rp64 million and Rp336 million, respectively,
Rp6,38 miliar dan Rp69 juta di tahun 2022 menjadi Rp6,44 miliar       rising from Rp6.38 billion and Rp69 million in 2022 to
dan Rp405 juta di tahun 2023. Kenaikan beban tersebut                 Rp6.44 billion and Rp405 million in 2023. This increase
mempengaruhi penurunan laba bersih sebesar Rp3,09 miliar              in expenses contributed to a decrease in net profit of
atau 35,62%, dari semula Rp8,67 miliar menjadi Rp5,58 miliar.         Rp3.09 billion or 35.62%, from the previous year’s
Di sisi lain, aset meningkat sebesar Rp78,49 miliar atau              Rp8.67 billion to Rp5.58 billion. Assets increased by Rp78.49
29,16% menjadi Rp347,63 miliar dari semula Rp269,14 miliar,           billion or 29.16%, from Rp269.14 billion to Rp347.63 billion,
sedangkan liabilitas menurun sebesar Rp1,87 miliar atau               while liabilities decreased by Rp1.87 billion or 32.09%, from
32,09% menjadi Rp3,96 miliar dari semula Rp5,83 miliar.               Rp5.83 billion to Rp3.96 billion.


Jasa Penjaminan Emisi dan Perantara                                   Securities Underwriting and Brokerage
Pedagang Efek, serta Manajer Investasi                                Services and Investment Manager Services

                                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                           Pertumbuhan
               Uraian                    2023          2022                   Growth                                   Description
                                                                          Rp                 %
 Pendapatan                              608,009       608,294              (285)           (0.05)       Income
 Beban Operasional                       290,868       262,880            27,988            10.65        Operating Expenses
 Laba Sebelum Pajak                      317,140       345,414          (28,274)            (8.19)       Profit Before Tax
 Beban Pajak                             (74,853)      (73,093)            1,760             2.41        Tax Expense
 Laba Bersih                             242,287       272,321          (30,034)          (11.03)        Net Profit
 Aset                                  1,752,975      2,172,315        (419,340)          (19.30)        Assets
 Liabilitas                              211,778       661,754         (449,976)          (68.00)        Liabilities




               Laporan Tahunan 2023
  166          2023 Annual Report
Page 169
                                                                                      PT SINAR MAS MULTIARTHA TBK




Pendapatan segmen jasa penjaminan emisi dan perantara              Income from securities underwriting and brokerage
pedagang efek, serta manajer investasi tercatat menurun            services and investment manager services segment
Rp285 juta atau 0,05%, dari Rp608,29 miliar di tahun 2022          recorded a slight decrease of Rp285 million or 0.05%,
menjadi Rp608,01 miliar di tahun 2023. Sementara itu, beban        from Rp608.29 billion in 2022 to Rp608.01 billion in 2023.
operasional dan beban pajak meningkat, masing-masing               Meanwhile, operating expenses and tax expenses increased
sebesar Rp27,99 miliar dan Rp1,76 miliar. Kondisi tersebut         by Rp27.99 billion and Rp1.76 billion, respectively. These
memengaruhi perolehan laba bersih yang mengalami                   conditions contributed to a decrease in net profit of
menurun sebesar Rp30,03 miliar atau 11,03%, dari                   Rp30.03 billion or 11.03%, from Rp272.32 billion in 2022
Rp272,32 miliar di tahun 2022 menjadi Rp242,29 miliar di           to Rp242.29 billion in 2023. Both assets and liabilities
tahun 2023. Aset dan liabilitas segmen ini turut mengalami         of this segment also recorded a decrease, down
penurunan, masing-masing sebesar Rp419,34 miliar dan               Rp419.34 billion and Rp449.98 billion, respectively, from
Rp449,98 miliar, dari Rp2,17 triliun dan Rp661,75 miliar di        Rp2.17 trillion and Rp661.75 billion in 2022 to Rp1.75 trillion
tahun 2022 menjadi Rp1,75 triliun dan Rp211,78 miliar.             and Rp211.78 billion in 2023.


Perbankan                                                          Banking

                                                         (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                        Pertumbuhan
               Uraian                 2023          2022                   Growth                                   Description
                                                                       Rp                 %

 Pendapatan                           4,434,153    4,058,641          375,512              9.25       Income

 Beban Operasional                    4,350,222    3,781,430          568,792             15.04       Operating Expenses

 Laba Sebelum Pajak                     83,931       277,211         (193,280)          (69.72)       Profit Before Tax

 Penghasilan (Beban) Pajak               2,219       (56,051)           58,270         (103.96)       Tax Benefit (Expense)

 Laba Bersih                            86,150       221,160         (135,010)          (61.05)       Net Profit

 Aset                                52,193,606   46,985,231        5,208,375             11.09       Assets

 Liabilitas                          44,823,228   40,080,592        4,742,636             11.83       Liabilities



Pada tahun 2023, pendapatan dan beban operasional                  In 2023, the banking segment recorded income and
segmen perbankan tercatat sebesar Rp4,43 triliun dan               operating expenses of Rp4.43 trillion and Rp4.35 trillion,
Rp4,35    triliun,   meningkat     Rp375,51     miliar  dan        respectively, an increase of Rp375.51 billion and
Rp568,79 miliar, dari Rp4,06 triliun dan Rp3,78 triliun di         Rp568.79 billion from Rp4.06 trillion and Rp3.78 trillion
tahun 2022. Segmen ini menghasilkan pendapatan dari                in 2022. This segment generated a tax benefit of
pajak sebesar Rp2,22 miliar, di mana sebelumnya beban              Rp2.22 billion, a significant shift from the tax expense
pajak tercatat sebesar Rp56,05 miliar di tahun 2022. Namun,        of Rp56.05 billion recorded in 2022. However, net
laba bersih menurun sebesar Rp135,01 miliar atau 61,05%            profit decreased by Rp135.01 billion or 61.05%, from
dari Rp221,16 miliar di tahun 2022 menjadi Rp86,15 miliar          Rp221.16 billion in 2022 to Rp86.15 billion in 2023.
di tahun 2023. Sementara itu, aset dan liabilitas mengalami        Meanwhile, both assets and liabilities increased. Assets
kenaikan, masing-masing sebesar Rp5,21 triliun dan                 rose by Rp5.21 trillion, from Rp46.99 trillion in 2022 to
Rp4,74 triliun, dari Rp46,99 triliun dan Rp40,08 triliun di        Rp52.19 trillion in 2023, and liabilities went up Rp4.74 trillion,
tahun 2022 menjadi Rp52,19 triliun dan Rp44,82 triliun.            from Rp40.08 trillion in 2022 to Rp44.82 trillion in 2023.




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report                 167
Page 170
04            ANALISIS DAN PEMBAHASAN MANAJEMEN
              Management Discussion and Analysis




Pembangunan, Perdagangan, dan Jasa                                Development, Trade, and Services

                                                        (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                       Pertumbuhan
               Uraian                 2023          2022                  Growth                                   Description
                                                                      Rp                 %

 Pendapatan                          1,355,716      604,368         751,348             124.32       Income
 Beban Operasional                     813,608      605,592         208,016              34.35       Operating Expenses
 Laba (Rugi) Sebelum Pajak             542,108       (1,224)        543,332         44,389.87        Profit (Loss) Before Tax
 Penghasilan Pajak                      16,032       16,974             (942)            (5.55)      Tax Benefit
 Laba (Rugi) Bersih                    558,140       15,750         542,390           3,443.75       Net Profit (Loss)
 Aset                                9,722,025     8,680,756      1,041,269              12.00       Assets
 Liabilitas                          4,578,360     3,850,997        727,363              18.89       Liabilities



Hingga      2023    berakhir, pendapatan    dan     beban         The development, trade, and services segment reported
operasional segmen pembangunan, perdagangan, dan                  income and operating expenses for the year 2023 of Rp1.36
jasa tercatat sebesar Rp1,36 triliun dan Rp813,61 miliar,         trillion and Rp813.61 billion, respectively. Income increased by
meningkat Rp751,35 miliar dan Rp208,02 miliar, dari               Rp751.35 billion from Rp604.37 billion in 2022, while operating
Rp604,37 miliar dan Rp605,59 miliar di tahun 2022.                expenses up Rp208.02 billion from Rp605.59 billion in 2022.
Segmen ini menghasilkan pendapatan dari pajak sebesar             Despite a decrease in tax benefit of Rp942 million or 5.55%
Rp16,03 miliar, menurun Rp942 juta atau 5,55% dari                from Rp16.97 billion in 2022 to Rp16.03 billion in 2023, the
Rp16,97 miliar di tahun 2022. Namun, laba bersih tercatat         segment saw a significant increase in net profit. The net profit
meningkat sebesar Rp542,39 miliar atau 3.443,75% dari             rose by Rp542.39 billion or 3,443.75%, from Rp15.75 billion
Rp15,75 miliar menjadi Rp558,14 miliar. Sementara itu, aset       to Rp558.14 billion. Meanwhile, both assets and liabilities saw
dan liabilitas mengalami kenaikan, masing-masing sebesar          an increase, with assets increased by Rp1.04 trillion, from
Rp1,04 triliun dan Rp727,36 miliar, dari Rp8,68 triliun           Rp8.68 trillion in 2022 to Rp9.72 trillion in 2023, and liabilities
dan Rp3,85 triliun di tahun 2022 menjadi Rp9,72 triliun           increased by Rp727.36 billion, from Rp3.85 trillion in 2022 to
 dan Rp4,58 triliun.                                              Rp4.58 trillion in 2023.




              Laporan Tahunan 2023
  168         2023 Annual Report
Page 171
                                                                                          PT SINAR MAS MULTIARTHA TBK




Tinjauan Keuangan
Financial Overview

Tinjauan Keuangan yang disajikan dalam Laporan Tahunan                 The Financial Overview presented in this Annual Report
ini merujuk pada Laporan Keuangan Konsolidasian tahun                  refers to the Consolidated Financial Statements for 2023
2023 dan 2022 yang telah diaudit di Kantor Akuntan Publik              and 2022, which have been audited by Public Accounting
Mirawati Sensi Idris dengan pendapat wajar, dalam semua                Firm Mirawati Sensi Idris with a fair opinion in all material
hal yang material.                                                     respects.



Laporan Posisi Keuangan                                                Consolidated Statement of
Konsolidasian                                                          Financial Position

                                                             (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                            Pertumbuhan
                    Uraian                 2023          2022                  Growth                                    Description
                                                                           Rp                 %

 Total Aset                              113,966,010   114,406,803       (440,793)          (0.39)        Total Assets
 Total Liabilitas                         89,137,464    90,731,743     (1,594,279)          (1.76)        Total Liabilities
 Total Ekuitas                            24,828,546    23,675,060      1,153,486             4.87        Total Equity




Total Aset                                                             Total Assets

                                                             (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                            Pertumbuhan
                    Uraian                 2023          2022                  Growth                                    Description
                                                                           Rp                 %

 Kas dan Bank - Bersih                     9,533,705     6,623,632      2,910,073            43.93        Cash and Bank – Net
 Investasi Jangka Pendek - Bersih         62,919,564    66,692,215     (3,772,651)           (5.66)       Short-Term Investment – Net
 Piutang Pembiayaan Multiguna -                                                                           Multipurpose Financing Receivables
                                           1,436,026     1,783,300       (347,274)         (19.47)
 Bersih                                                                                                   – Net
 Piutang Sewa Pembiayaan - Bersih           175,297       250,551         (75,254)         (30.04)        Finance Lease Receivables – Net
 Piutang Pembiayaan Modal                                                                                 Working Capital Financing with
                                           2,513,517     3,591,010    (1,077,493)          (30.01)
 Kerja Skema Anjak Piutang - Bersih                                                                       Factoring Scheme Receivables – Net
 Piutang Premi dan Reasuransi -                                                                           Premium and Reinsurance
                                           1,861,049     2,301,467       (440,418)         (19.14)
 Bersih                                                                                                   Receivables – Net
 Kredit yang Diberikan - Bersih           15,086,293    12,698,632      2,387,661            18.80        Loans – Net
 Tagihan Akseptasi - Bersih                  78,304         77,389              915           1.18        Acceptance Receivables – Net
 Aset Ijarah - Bersih                       433,902       472,029         (38,127)           (8.08)       Ijarah Assets – Net
                                                                                                          Securities Transaction Receivables –
 Piutang Transaksi Efek - Pihak Ketiga      154,722       584,186        (429,464)         (73.51)
                                                                                                          Third Parties
 Piutang Lain-Lain - Bersih                2,982,864     3,488,681       (505,817)         (14.50)        Other Receivables – Net
 Aset Reasuransi                           3,933,978     3,839,933          94,045            2.45        Reinsurance Assets
 Investasi dalam Saham - Bersih            3,349,804     3,042,068        307,736            10.12        Investment in Shares – Net
 Properti Investasi - Bersih                413,669       422,684           (9,015)          (2.13)       Investment in Property – Net
 Aset Tetap - Bersih                       2,744,994     2,770,660        (25,666)           (0.93)       Fixed Assets – Net
 Agunan yang Diambil Alih - Bersih          274,353       395,235        (120,882)         (30.58)        Foreclosed Assets – Net
 Aset Pajak Tangguhan                       375,773       350,626           25,147            7.17        Deferred Tax Assets
 Aset Lain-Lain                            5,698,196     5,022,505        675,691            13.45        Other Assets
 Total Aset                              113,966,010   114,406,803      (440,793)           (0.39)        Total Assets




                                                                                                       Laporan Tahunan 2023
                                                                                                          2023 Annual Report                 169
Page 172
04              ANALISIS DAN PEMBAHASAN MANAJEMEN
                Management Discussion and Analysis




Pada tahun 2023, aset Perseroan tercatat sebesar                        The Company’s assets were recorded at Rp113.97 trillion in
Rp113,97 triliun, menurun Rp440,79 miliar atau 0,39%                    2023, a decrease of Rp440.79 billion or 0.39% compared to
dibandingkan tahun 2022 sebesar Rp114,41 triliun. Kondisi               the previous year’s figure of Rp114.41 trillion. This condition
ini dipengaruhi oleh menurunnya investasi jangka pendek -               was due to a decline in short-term investments – net
bersih sebesar Rp3,77 triliun.                                          amounting to Rp3.77 trillion.


Total Liabilitas                                                        Total Liabilities

                                                              (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                             Pertumbuhan
                 Uraian                     2023          2022                  Growth                                   Description
                                                                            Rp                 %

 Simpanan dan Simpanan dari Bank                                                                           Deposits and Deposits from Other
                                           40,950,205   36,547,511       4,402,694            12.05
 Lain                                                                                                      Banks
 Efek yang Dijual dengan Janji Beli                                                                        Securities Sold Under Agreements to
                                            1,051,717            -       1,051,717           100.00
 Kembali - Pihak Ketiga                                                                                    Repurchase – Third Parties
 Utang Asuransi                             1,368,726    2,108,042        (739,316)          (35.07)       Insurance Payable
 Liabilitas Kontrak Penjaminan dan                                                                         Guarantee Contract Liabilities and
                                            3,889,571    3,200,370         689,201            21.54
 Premi Diterima di Muka                                                                                    Premium Received in Advance
 Liabilitas Manfaat Polis Masa Depan         367,502      263,801          103,701            39.31        Future Policy Benefit Liability
                                                                                                           Segregated Fund Contract Liabilities
 Dana Pemegang Polis - Unit Link           20,767,188   26,345,175     (5,577,987)           (21.17)
                                                                                                           – Unit Link
 Liabilitas Kontrak Asuransi                 480,686      122,076          358,610           293.76        Insurance Contract Liability
 Premi Belum Merupakan Pendapatan                                                                          Unearned Premium and Estimated
                                            6,915,357    6,781,509         133,848              1.97
 dan Estimasi Liabilitas Klaim                                                                             Claims Liability
 Liabilitas Akseptasi                         79,880       78,065             1,815             2.32       Acceptance Payables
 Utang Perusahaan Efek                        86,341      518,318         (431,977)          (83.34)       Securities Transaction Payables
 Utang Pajak                                 120,322      385,722         (265,400)          (68.81)       Tax Payables
 Beban Akrual                                332,181      290,866            41,315           14.20        Accrued Expenses
 Surat Berharga yang Diterbitkan            8,390,304    7,002,503       1,387,801            19.82        Securities Issued
 Pinjaman yang Diterima                     2,086,386    3,687,007     (1,600,621)           (43.41)       Loans Received
 Liabilitas Pajak Tangguhan                    4,765       10,933            (6,168)         (56.42)       Deferred Tax Liabilities
 Liabilitas Imbalan Kerja Jangka Panjang     148,681      127,617            21,064           16.51        Long-Term Employee Benefit Liability
                                                                                                           Reserve for Profit Sharing
 Cadangan Bagi Hasil Peserta                  21,614       20,320             1,294             6.37
                                                                                                           Distribution to Participants
 Liabilitas Lain-Lain                       2,076,038    3,241,908     (1,165,870)           (35.96)       Other Liabilities
 Total Liabilitas                          89,137,464   90,731,743     (1,594,279)            (1.76)       Total Liabilities



Liabilitas Perseroan di tahun 2023 menurun sebesar                      The Company’s liabilities decreased by Rp1.59 trillion or
Rp1,59 triliun atau 1,76% dari Rp90,73 triliun di tahun 2022            1.76%, from Rp90.73 trillion in 2022 to Rp89.14 trillion in
menjadi Rp89,14 triliun. Kondisi ini terutama disebabkan                2023. This condition was primarily due to a decrease in
oleh penurunan dana pemegang polis - unit link sebesar                  segregated fund contract liabilities – unit link amounting to
Rp5,58 triliun.                                                         Rp5.58 trillion.




                Laporan Tahunan 2023
  170           2023 Annual Report
Page 173
                                                                                     PT SINAR MAS MULTIARTHA TBK




Total Ekuitas                                                     Total Equity

                                                        (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                       Pertumbuhan
                 Uraian               2023          2022                  Growth                                   Description
                                                                      Rp                 %

 Ekuitas yang Dapat Diatribusikan                                                                      Equity Attributable to Owners of
 Kepada Pemilik Entitas Induk                                                                          Parent Entity
 Modal Saham - Nilai Nominal
                                                                                                       Share Capital – Nominal Value
 Rp5.000,- (dalam Rupiah penuh)
                                                                                                       Rp5,000 (in full Rupiah) per Series A
 per saham Seri A dan Rp100,-
                                                                                                       Share and Rp100 (in full Rupiah)
 (dalam Rupiah penuh) per Saham
                                                                                                       per Series B Share
 Seri B
 Modal Dasar - 142.474.368                                                                             Authorized Capital – 142,474,368
 Saham Seri A dan 21.371.155.200                                                                       Series A Share and 21,371,155,200
 Saham Seri B                                                                                          Series B Share
 Modal Ditempatkan dan Disetor -
                                                                                                       Issued and Fully Paid-Up Capital –
 Seri A sebanyak 142.474.368 Saham
                                      1,334,891    1,334,891                  -                  -     142,474,368 Series A Shares and
 Seri B Masing-Masing Sebanyak
                                                                                                       6,225,190,349 Series B Shares
 6.225.190.349 Saham
 Tambahan Modal Disetor - Bersih      1,647,520    1,647,520                  -                  -     Additional Paid-In Capital – Net
 Komponen Ekuitas Lainnya              369,386      425,816          (56,430)            (13.25)       Other Equity Component
 Saldo Laba                                                                                            Retained Earnings
   Ditentukan Penggunanya              791,607      791,607                   -                  -       Appropriated
   Tidak ditentukan Penggunanya      18,136,270   17,004,706       1,131,564                 6.65        Unappropriated
 Kepentingan Non-Pengendali           2,548,872    2,470,520           78,352                3.17      Non-Controlling Interests
 Total Ekuitas                       24,828,546   23,675,060       1,153,486                 4.87      Total Equity



Per 31 Desember 2023, ekuitas tercatat sebesar Rp24,83            The Company’s equity as of 31 December 2023 was recorded
triliun, meningkat Rp1,15 triliun atau 4,87% dibandingkan         at Rp24.83 trillion, an increase of Rp1.15 trillion or 4.87%
tahun 2022 sebesar Rp23,68 triliun. Kenaikan didukung oleh        compared to the previous year’s figure of Rp23.68 trillion.
peningkatan saldo laba - tidak ditentukan penggunaannya           This increase was contributed by an increase in retained
sebesar Rp1,13 triliun.                                           earnings – unappropriated amounting to Rp1.13 trillion.



Laporan Laba Rugi dan Penghasilan                                 Consolidated Statement of Profit or Loss
Komprehensif Lain Konsolidasian                                   and Other Comprehensive Income

                                                        (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                       Pertumbuhan
                 Uraian               2023          2022                  Growth                                   Description
                                                                      Rp                 %

 Pendapatan                          26,930,150   33,188,103     (6,257,953)           (18.86)         Income
 Beban                               25,645,893   31,940,788     (6,294,895)           (19.71)         Expenses
 Laba Sebelum Pajak                   1,284,257    1,247,315           36,942             2.96         Profit Before Tax
 Beban Pajak                            95,542      345,315         (249,773)          (72.33)         Tax Expense
 Laba Tahun Berjalan                  1,188,715     902,000          286,715             31.79         Profit for the Year
 Penghasilan (Rugi) Komprehensif
                                       109,683       (9,025)         118,708         1,315.32          Other Comprehensive Income (Loss)
 Lain
 Jumlah Penghasilan Komprehensif      1,298,398     892,975          405,423             45.40         Total Comprehensive Income




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report                171
Page 174
04            ANALISIS DAN PEMBAHASAN MANAJEMEN
              Management Discussion and Analysis




                                                          (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                         Pertumbuhan
               Uraian                   2023          2022                  Growth                                   Description
                                                                        Rp                 %

 Laba Bersih Teratribusikan kepada:                                                                    Net Income Attributable to:
   Pemilik Entitas Induk                1,168,946     844,563          324,383             38.41          Owners of Parent Entity
   Kepentingan Non-Pengendali             19,769      575,437         (555,668)          (96.56)          Non-Controlling Interest
 Penghasilan Komprehensif                                                                              Comprehensive Income
 Teratribusikan kepada:                                                                                Attributable to:
   Pemilik Entitas Induk                1,154,288     931,448          222,840             23.92          Owners of Parent Entity
   Kepentingan Non-Pengendali            144,110      (38,473)         182,583          (474.57)          Non-Controlling Interests
 Laba Bersih per Saham Dasar                                                                           Basic Earnings per Share
                                             184          133                 51           38.35
 (Rupiah penuh)                                                                                        (in Rupiah full)


Pendapatan                                                          Income

                                                          (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                         Pertumbuhan
               Uraian                   2023          2022                  Growth                                   Description
                                                                        Rp                 %

 Pendapatan Underwriting Asuransi      18,035,097   23,265,196     (5,230,099)           (22.48)       Insurance Underwriting Income
 Pendapatan Bunga dan Bagi Hasil        5,852,771    5,643,540         209,231              3.71       Interest and Profit-Sharing Income
 Keuntungan Penjualan Investasi                                                                        Gain on Sale of Short-Term
                                                -     880,708         (880,708)        (100.00)
 Jangka Pendek - Bersih                                                                                Investment – Net
 Keuntungan dari Investasi pada Unit                                                                   Gain on Investments in Mutual Funds
                                         813,189      920,342         (107,153)          (11.64)
 Reksa Dana                                                                                            Unit
 Pendapatan Administrasi dan                                                                           Administration and Commission
                                         678,696      823,145         (144,449)          (17.55)
 Komisi                                                                                                Income
 Pendapatan Transaksi Efek               536,822      520,085            16,737             3.22       Securities Transaction Income
 Penjualan                               441,272      194,352          246,920           127.05        Sales
 Keuntungan Selisih Kurs Mata Uang
                                         197,591      241,189          (43,598)          (18.08)       Gain on Foreign Exchange – Net
 Asing - Bersih
 Pendapatan Pinjam Meminjam                                                                            Peer-to-Peer Financial Technology
                                          14,246       24,292          (10,046)          (41.36)
 Berbasis Teknologi Informasi                                                                          Income
 Pendapatan Jasa Biro Administrasi                                                                     Securities Administration Bureau
                                           7,844         6,535            1,309           20.03
 Efek                                                                                                  Income
 Ekuitas pada Laba Entitas Asosiasi                                                                    Share in Net Income of Associates
                                          73,243       20,259            20,259          100.00
 - Bersih                                                                                              – Net
 Keuntungan atas Kenaikan Nilai                                                                        Gains on Increases in the Fair Value
                                          25,346             -                  -        100.00
 Wajar Efek                                                                                            of Securities
 Pendapatan Lain-Lain                    254,033      648,460         (394,427)          (60.83)       Other Income
 Total Pendapatan                      26,930,150   33,188,103     (6,257,953)          (18.86)        Total Income



Pendapatan Perseroan di tahun 2023 tercatat sebesar                 The Company’s income in 2023 was recorded at
Rp26,93 triliun, menurun Rp6,26 triliun atau 18,86%                 Rp26.93 trillion, down 18.86% or Rp6.26 trillion from
dari Rp33,19 triliun di tahun 2022. Kondisi ini terutama            Rp33.19 trillion in 2022. This condition was primarily
dipengaruhi oleh menurunnya pendapatan underwriting                 due to a decrease in insurance underwriting income of
asuransi sebesar Rp5,23 triliun.                                    Rp5.23 trillion.




              Laporan Tahunan 2023
  172         2023 Annual Report
Page 175
                                                                                       PT SINAR MAS MULTIARTHA TBK




Beban Usaha                                                         Operating Expenses

                                                          (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                         Pertumbuhan
               Uraian                   2023          2022                  Growth                                   Description
                                                                        Rp                 %

 Beban Underwriting Asuransi           16,752,587   23,900,871     (7,148,284)             (29.91)     Insurance Underwriting Expenses
 Kerugian atas Penurunan Nilai Wajar                                                                   Loss on Decrease in Fair Value of
                                                -    1,064,891     (1,064,891)           (100.00)
 Efek                                                                                                  Securities
 Beban Kerugian Penurunan Nilai                                                                        Provision for Impairment Losses of
 Aset Keuangan dan Non-Keuangan         1,525,009     882,780          642,229              72.75      Financial and Non-Financial Assets
 - Bersih                                                                                              – Net
 Beban Umum dan Administrasi            2,238,830    2,033,572         205,258              10.09      General and Administrative Expenses
                                                                                                       Salary and Employee Benefits
 Beban Gaji dan Tunjangan Karyawan      2,176,654    1,961,980         214,674              10.94
                                                                                                       Expenses
 Beban Bunga dan Bagi Hasil             1,973,058    1,664,347         308,711              18.55      Interest and Profit-Sharing Expenses
 Beban Pokok Penjualan                   449,330      271,912          177,418              65.25      Cost of Sales
 Kerugian Penjualan Investasi Jangka                                                                   Loss on Sale of Short-Term
                                         380,943              -      1,064,891             100.00
 Pendek - Bersih                                                                                       Investment – Net
 Beban Lain-Lain                         149,482      160,435          (10,953)             (6.83)     Other Expenses
 Total Beban                           25,645,893   31,940,788     (6,294,895)            (19.71)      Total Expenses



Beban usaha Perseroan menurun sebesar Rp6,29 triliun                The Company’s operating expenses decreased by
atau 19,71% dari Rp31,94 triliun di tahun 2022 menjadi              Rp6.29 trillion or 19.71%, from Rp31.94 trillion in 2022
Rp25,65 triliun di tahun 2023. Penurunan beban underwriting         to Rp25.65 trillion in 2023, primarily due to a decrease in
asuransi sebesar Rp7,15 triliun menjadi faktor utama yang           insurance underwriting expenses of Rp7.15 trillion.
memengaruhi penurunan beban usaha.


Laba Sebelum Pajak                                                  Profit Before Tax
Meskipun pendapatan menurun, laba sebelum pajak                     Despite a decrease in income, the Company’s profit
Perseroan di tahun 2023 meningkat sebesar Rp36,94 miliar            before tax increased by Rp36.94 billion or 2.96%, from
atau 2,96% dari Rp1,25 triliun di tahun 2022 menjadi                Rp1.25 trillion in 2022 to Rp1.28 trillion in 2023.
Rp1,28 triliun.


Beban Pajak                                                         Tax Expense
Per 31 Desember 2023, beban pajak tercatat sebesar                  The Company’s tax expense as of 31 December 2023 was
Rp95,54 miliar, menurun Rp249,77 miliar atau 72,33%                 Rp95.54 billion, a decrease of Rp249.77 billion or 72.33%
dibandingkan     tahun sebelumnya  yang    mencapai                 compared to the previous year’s Rp345.32 billion.
Rp345,32 miliar.


Laba Tahun Berjalan                                                 Profit for the Year
Penurunan beban pajak berdampak pada membukukan laba                The decrease in tax expense resulted in Rp1.19 trillion
tahun berjalan di tahun 2023 yang mencapai Rp1,19 triliun,          of profit for the year recorded in 2023, an increase of
meningkat Rp286,72 miliar atau 31,79% dibandingkan tahun            Rp286.72 billion or 31.79% compared to Rp902.00 billion in
2022 sebesar Rp902,00 miliar.                                       2022.


Penghasilan (Rugi) Komprehensif Lain                                Other Comprehensive Income (Loss)
Pada tahun 2023, Perseroan mencatatkan penghasilan                  The Company recorded other comprehensive income of
komprehensif lain sebesar Rp109,68 miliar, meningkat                Rp109.68 billion in 2023, an increase of Rp118.71 billion
Rp118,71 miliar atau Rp1.315,32% dari tahun 2022 yang               or 1,315.32% compared to other comprehensive loss of
mencatatkan rugi komprehensif lain sebesar Rp9,03 miliar.           Rp9.03 billion recorded in 2022.




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report                173
Page 176
04            ANALISIS DAN PEMBAHASAN MANAJEMEN
              Management Discussion and Analysis




Jumlah Penghasilan Komprehensif                                      Total Comprehensive Income
Sejalan dengan peningkatan penghasilan komprehensif lain,            In line with the increase in other comprehensive income,
jumlah penghasilan komprehensif Perseroan di tahun 2023              the Company’s total comprehensive income grew by
meningkat sebesar Rp405,42 miliar atau 45,40% dari tahun             Rp405.42 billion or 45.40%, from Rp892.98 billion in 2022 to
2022 sebesar Rp892,98 miliar menjadi Rp1,30 triliun.                 Rp1.30 trillion in 2023.



Laporan Arus Kas Konsolidasian                                       Consolidated Statement of Cash Flows

                                                           (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                          Pertumbuhan
               Uraian                   2023          2022                   Growth                                   Description
                                                                         Rp                 %

 Arus Kas Diperoleh dari (Digunakan                                                                     Cash Flow Provided by (Used in)
                                       6,981,396    (6,459,095)      13,440,491           208.09
 untuk) Aktivitas Operasi                                                                               Operating Activities
 Arus Kas Diperoleh dari (Digunakan                                                                     Cash Flow Provided by (Used in)
                                          71,283     (289,533)          360,816           124.62
 untuk) Aktivitas Investasi                                                                             Investing Activities
 Arus Kas Diperoleh dari (Digunakan                                                                     Cash Flow Provided by (Used in)
                                      (2,538,082)    2,514,763      (5,052,845)         (200.93)
 untuk) Aktivitas Pendanaan                                                                             Financing Activities
                                                                                                        Net Increase in Cash and Cash
 Kenaikan Bersih Kas dan Setara Kas    4,514,597    (4,233,865)       8,748,462           206.63
                                                                                                        Equivalents
                                                                                                        Cash and Cash Equivalents at
 Kas dan Setara Kas Awal Tahun        14,687,466    18,598,769       (3,911,303)          (21.03)
                                                                                                        Beginning of Year
                                                                                                        Cash and Cash Equivalents at
 Kas dan Setara Kas Akhir Tahun       19,530,995    14,687,466        4,843,529            32.98
                                                                                                        End of Year


Arus Kas Diperoleh dari (Digunakan untuk)                            Cash Flow Provided by (Used in) Operating
Aktivitas Operasi                                                    Activities
Per 31 Desember 2023, Perseroan memperoleh kas dari                  The Company recorded net cash flow provided by operating
aktivitas operasi sebesar Rp6,98 triliun, berbanding terbalik        activities amounting to Rp6.98 trillion as of 31 December 2023,
dengan tahun sebelumnya yang menggunakan arus kas                    a stark contrast to the previous year, with net cash
untuk aktivitas operasi sebesar Rp6,46 triliun. Kondisi              flow used in operating activities amounting to Rp6.46
ini terutama dipengaruhi oleh peningkatan penerimaan                 trillion. This condition was primarily due to an increase in
bunga dan bagi hasil sebesar Rp1,37 miliar serta diikuti             interest and profit-sharing received of Rp1.37 billion and
penurunan pembayaran beban underwriting asuransi sebesar             a decrease in insurance underwriting expenses paid of
Rp7,92 triliun.                                                      Rp7.92 trillion.


Arus Kas Diperoleh dari (Digunakan untuk)                            Cash Flow Provided by (Used in) Investing
Aktivitas Investasi                                                  Activities
Kas diperoleh dari aktivitas investasi di tahun 2023                 The Company recorded net cash flow from investing activities
sebesar Rp71,28 miliar, berbanding terbalik dengan tahun             of Rp71.28 billion in 2023, a reversal from the previous
sebelumnya di mana Perseroan menggunakan kas untuk                   year, where the Company recorded a net cash flow used in
aktivitas ini sebesar Rp289,53 miliar. Hal ini dipengaruhi           investing activities of Rp289.53 billion. This change was due
oleh peningkatan penjualan investasi dalam saham sebesar             to an increase in proceeds from sale of investment in shares,
Rp762,16 miliar.                                                     which amounted to Rp762.16 billion.


Arus Kas Diperoleh dari (Digunakan untuk)                            Cash Flow Provided by (Used in) Financing
Aktivitas Pendanaan                                                  Activities
Pada tahun 2023, kas yang digunakan untuk aktivitas                  The Company recorded net cash flow used in financing
pendanaan sebesar Rp2,54 triliun, berbanding terbalik dengan         activities of Rp2.54 trillion in 2023, a contrast to the previous
kondisi di tahun 2022 yang memperoleh kas dari aktivitas             year, which recorded net cash flow provided by financing
ini sebesar Rp2,51 triliun. Kondisi ini terutama disebabkan          activities of Rp2.51 trillion. This condition was primarily
oleh penurunan penerbitan surat berharga yang diterbitkan            due to a decrease in the proceeds from securities issued
sebesar Rp2,33 triliun.                                              amounting to Rp2.33 trillion.




              Laporan Tahunan 2023
  174         2023 Annual Report
Page 177
                                                                            PT SINAR MAS MULTIARTHA TBK




Rasio Keuangan                                                Financial Ratio

                        Uraian                      2023       2022                           Description

 Profitabilitas (%)                                                      Profitability (%)
 Margin Laba Kotor                                    4.77       3.76    Gross Profit Margin
 Margin Laba Bersih                                   4.41       2.72    Net Profit Margin
 Rasio Laba terhadap Total Aset (ROA)                 1.04       0.79    Return on Assets (ROA)
 Rasio Laba terhadap Total Ekuitas (ROE)              4.79       3.81    Return on Equity (ROE)
 Rasio Beban Operasional terhadap Pendapatan         95.23      96.24    Ratio of Operating Expenses to Operating Income
 Operasional (BOPO)                                                      (BOPO)
 Likuiditas (%)                                                          Liquidity (%)
 Rasio Lancar                                       127.85     126.09    Current Ratio
 Solvabilitas (%)                                                        Solvency (%)
 Rasio Liabilitas terhadap Total Aset                78.21      79.31    Liabilities to Assets Ratio
 Rasio Liabilitas terhadap Total Ekuitas            359.01     383.24    Liabilities to Equity Ratio


Profitabilitas                                                Profitability
Peningkatan laba tahun berjalan di tahun 2023 berdampak       The increase in profit for the year 2023 had a positive
pada profitabilitas Perseroan. Margin laba kotor, margin      impact on the Company’s profitability. The gross profit
laba bersih, rasio laba terhadap aset (ROA), dan rasio laba   margin, net profit margin, return on assets (ROA), and
terhadap ekuitas (ROE) tercatat meningkat menjadi 4,77%;      return on equity (ROE) increased to 4.77%, 4.41%,
4,41%; 1,04%; dan 4,79% dari semula 3,76%; 2,72%; 0,79%;      1.04%, and 4.79%, respectively, up from 3.76%, 2.72%,
dan 3,81%. Akan tetapi, rasio beban operasional terhadap      0.79%, and 3.81%. However, the ratio of operating
pendapatan operasional (BOPO) menurun dari semula             expenses to operating income (BOPO) decreased from
96,24% menjadi 95,23%.                                        96.24% to 95.23%.


Kemampuan Membayar Utang                                      Ability to Pay Debt
Kemampuan membayar utang Perseroan diukur melalui             The Company’s ability to pay debts is measured by calculating
perhitungan rasio likuiditas dan rasio solvabilitas sebagai   the liquidity ratio and solvency ratio as follows.
berikut.
1. Rasio Likuiditas                                           1. Liquidity Ratio
    Rasio ini digunakan untuk mengetahui kemampuan               This ratio is used to determine the Company’s ability to
    Perseroan dalam memenuhi kewajiban dalam jangka              meet its short-term obligations. In 2023, the Company’s
    pendek. Rasio likuiditas Perseroan tahun 2023 tercermin      liquidity ratio was reflected in the current ratio, which
    dalam rasio lancar yang tercatat sebesar 127,85%,            was recorded at 127.85%, an increase compared to
    meningkat dibandingkan tahun 2022 sebesar 126,09%.           126.09% in 2022. This condition indicates that the
    Hal ini menandakan bahwa Perseroan tetap mampu               Company was still able to meet its short-term obligations
    memenuhi kewajiban dalam jangka pendek dengan baik           well throughout 2023.
    selama tahun 2023.
2. Rasio Solvabilitas                                         2. Solvency Ratio
    Rasio ini digunakan untuk mengetahui kemampuan               This ratio is used to determine the Company’s ability
    Perseroan dalam memenuhi kewajiban jangka panjang.           to meet its long-term obligations. The Company’s 2023
    Rasio solvabilitas Perseroan tahun 2023 tercermin dari:      solvency ratio is reflected in:
    a. Rasio Liabilitas terhadap Total Aset                      a. Liabilities to Assets Ratio
        Rasio ini di tahun 2023 mencapai 78,21%, menurun             In 2023, this ratio reached 78.21%, a decrease
        dibandingkan tahun 2022 sebesar 79,31%.                      compared to 79.31% in 2022.
    b. Rasio Liabilitas terhadap Total Ekuitas                   b. Liabilities to Equity Ratio
        Rasio ini di tahun 2023 mencapai 359,01%, menurun            In 2023, this ratio reached 359.01%, a decrease
        dibandingkan tahun 2022 sebesar 383,24%.                     compared to 383.24% in 2022.


Kondisi tersebut menunjukkan bahwa Perseroan masih            The condition indicates that the Company was still able to
mampu memenuhi kewajiban jangka panjang di tahun 2023         meet its long-term obligations in 2023.
dengan baik.




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report        175
Page 178
04              ANALISIS DAN PEMBAHASAN MANAJEMEN
                Management Discussion and Analysis




Kolektibilitas Piutang                                           Receivables Collectability
Secara konsolidasi, Perseroan dan Entitas Anak mengelola         On a consolidated basis, the Company and its Subsidiaries
piutang-piutang usaha sesuai dengan sifat, jenis dan             manage trade receivables according to the nature, type,
hubungan transaksi. Perseroan dan Entitas Anak membentuk         and relationship of the transaction. The Company and its
cadangan kerugian penurunan nilai atas piutang tertentu.         Subsidiaries establish allowance for impairment losses on
Namun, manajemen berpendapat bahwa piutang-piutang               certain receivables. However, management believes that the
usaha dapat ditagih seluruhnya.                                  trade receivables are fully collectible.



Struktur Permodalan                                              Capital Structure

Pengelolaan permodalan dilakukan untuk memastikan                Capital management is carried out to ensure that the
bahwa Perseroan dan Entitas Anak mampu mempertahankan            Company and its Subsidiaries are able to maintain a healthy
rasio modal yang sehat dalam rangka mendukung usaha              capital ratio in order to support business ventures and
bisnis dan memaksimalkan nilai Pemegang Saham. Namun,            maximize shareholder value. However, the Company is not
Perseroan tidak diwajibkan untuk memenuhi syarat-syarat          required to meet certain capital requirements.
modal tertentu.


Perseroan mengelola struktur modal dan membuat                   The Company manages the capital structure and makes
penyesuaian terhadap struktur modal sehubungan dengan            adjustments to the capital structure in relation to changes
perubahan kondisi ekonomi. Manajemen Perseroan juga              in economic conditions. The Company’s management also
senantiasa memantau modal dengan menggunakan                     continuously monitors capital by using gearing ratio (debt
analisa gearing ratio (rasio utang terhadap modal), yakni        to capital ratio) analysis, which is dividing net debt by total
membagi utang bersih terhadap jumlah modal. Utang                capital. Net debt is the total debt (including short-term and
bersih merupakan jumlah utang (termasuk utang jangka             long-term debt in the Consolidated Statement of Financial
pendek dan jangka panjang di Laporan Posisi Keuangan             Position) less cash and bank. Meanwhile, capital is the equity
Konsolidasian) dikurangi kas dan bank. Sementara modal           attributable to Shareholders, which is presented in the
merupakan ekuitas yang dapat diatribusikan kepada                Consolidated Statement of Financial Position.
Pemegang Saham yang disajikan dalam Laporan Posisi
Keuangan Konsolidasian.


Rincian rasio utang bersih terhadap modal Perseroan              Details of the Company’s ratio of net debt to capital as of
per 31 Desember 2023 dan 2022 ditunjukkan pada tabel             31 December 2023 and 2022 are shown in the following
berikut.                                                         table.


                                                       (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                      Uraian                      2023             2022                                 Description

 Simpanan dan Simpanan dari Bank Lain           40,950,205      36,547,511       Deposits and Deposits from Other Banks
 Pinjaman yang Diterima                          2,086,386        3,687,007      Loans Received
 Surat Berharga yang Diterbitkan                 8,390,304        7,002,503      Securities Issued
 Kas dan Bank                                   (9,533,705)     (6,623,632)      Cash and Bank
 Jumlah - Bersih                                41,893,190      40,613,389       Total – Net
 Jumlah Ekuitas                                 24,828,546      23,675,060       Total Equity
 Rasio Utang Bersih terhadap Modal (%)               168.73          171.55      Ratio of Net Debt to Capital (%)




                Laporan Tahunan 2023
  176           2023 Annual Report
Page 179
                                                                                      PT SINAR MAS MULTIARTHA TBK




Investasi Barang Modal                                             Capital Goods Investment

Investasi barang modal dilakukan Perseroan untuk                   The Company undertakes capital goods investment to
mendukung dan menunjang aktivitas operasional. Realisasi           support and sustain operational activities. The realization
investasi barang modal Perseroan diungkapkan sebagai               of the Company’s capital goods investment is disclosed as
berikut.                                                           follows:


                                                         (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                                        Pertumbuhan
               Uraian                   2023         2022                  Growth                                   Description
                                                                       Rp                 %

 Tanah                                     129       39,887         (39,758)            (99.68)       Land
 Bangunan                                34,254      35,544          (1,290)              (3.63)      Building
 Peralatan Kantor                       176,415     163,319           13,096               8.02       Office Equipment
 Perlengkapan Kantor                     52,286       5,665           13,554              34.99       Office Supplies
 Kendaraan Bermotor                       7,707      38,732            2,042              36.05       Motor Vehicle
 Mesin dan Peralatan                      (497)         732          (1,229)           (167.90)       Machinery and Equipment
 Aset dalam Pembangunan                   3,982          54            3,928          7,274.07        Assets under Construction
 Aset yang Disewakan                    135,527     105,353           30,174              28.64       Assets for Rent
 Total                                  409,803     389,286          20,517                5.27       Total




Ikatan Material terkait Investasi                                  Material Commitment related to Capital
Barang Modal                                                       Goods Investment

Ikatan material terkait investasi barang modal Perseroan           The material commitments related to the capital goods
dan Entitas Anak tahun 2023 diuraikan sebagai berikut.             investment of the Company and its Subsidiaries in 2023 are
                                                                   as follows.
1. PT Sinar Mas Multifinance (SMF) menerima fasilitas kredit       1. PT Sinar Mas Multifinance (SMF) received credit facilities
   dari PT Bank Mega Tbk, (Bank Mega) dengan uraian sebagai            from PT Bank Mega Tbk (Bank Mega), with the details as
   berikut.                                                            follows:
   a. Pada tanggal 9 Maret 2017, SMF memperoleh                        a. On 9 March 2017, SMF obtained a revolving working
       fasilitas kredit modal kerja dalam bentuk demand                     capital credit facility in the form of a demand loan,
       loan, dengan jumlah fasilitas maksimum sebesar                       with a maximum facility amount of Rp125 billion
       Rp125 miliar dan bersifat revolving. Fasilitas ini                   and 12 months tenor. In 2018, this facility was
       memiliki jangka waktu 12 bulan. Pada tahun 2018,                     increased to Rp526 billion and further increased to
       fasilitas ini ditingkatkan menjadi Rp526 miliar dan                  Rp800 billion in 2019. In 2023, the facility was
       pada tahun 2019, ditingkatkan kembali menjadi                        reduced to Rp200 billion and will mature on
       Rp800 miliar. Pada tahun 2023, fasilitas diturunkan                  9 March 2024;
       menjadi Rp200 miliar dan akan jatuh tempo tanggal
       9 Maret 2024;
   b. Pada tanggal 25 Juli 2019, SMF memperoleh fasilitas               b. On 25 July 2019, SMF obtained a fixed loan facility
       pinjaman tetap dengan jumlah maksimum sebesar                       with a maximum amount of Rp330 billion. This
       Rp330 miliar. Fasilitas ini akan jatuh tempo tanggal                facility will mature on 25 July 2023;
       25 Juli 2023;
   c. Pada tanggal 29 Desember 2020, SMF memperoleh                     c. On 29 December 2020, SMF obtained a second
       fasilitas pinjaman tetap II dengan jumlah maksimum                  (II) fixed loan facility with a maximum amount
       sebesar Rp250 miliar. Fasilitas ini akan jatuh tempo                of Rp250 billion. This facility will mature on
       tanggal 29 Maret 2024;                                              29 March 2024;
   d. Pada tanggal 9 Maret 2021, SMF memperoleh                         d. On 9 March 2021, SMF obtained a third (III) fixed loan
       fasilitas pinjaman tetap III dengan jumlah maksimum                 facility with a maximum amount of Rp400 billion.
       sebesar Rp400 miliar. Fasilitas ini akan jatuh tempo                This facility will mature on 9 December 2023; and
         tanggal 9 Desember 2023; dan




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report                  177
Page 180
04            ANALISIS DAN PEMBAHASAN MANAJEMEN
              Management Discussion and Analysis




    e. Pada tanggal 14 April 2022, SMF memperoleh fasilitas             e. On 14 April 2022, SMF obtained a fourth (IV) fixed
        pinjaman tetap IV dengan jumlah maksimum sebesar                   loan facility with a maximum amount of Rp600
        Rp600 miliar. Fasilitas ini akan jatuh tempo tanggal               billion. This facility will mature on 14 January 2026.
        14 Januari 2026.
    Fasilitas di atas dijamin dengan piutang pembiayaan                 The above facilities are secured with multipurpose
    multiguna serta jaminan perusahaan dari Perseroan.                  financing receivables and corporate guarantees from
                                                                        the Company.
2. PT Bank Sinarmas Tbk (ABSM) pada tanggal 13 Maret                 2. On 13 March 2019, PT Bank Sinarmas Tbk (ABSM)
   2019 memperoleh fasilitas kredit modal kerja dalam                   obtained a revolving working capital credit facility in
   bentuk demand loan dari Bank Mega, dengan jumlah                     the form of a demand loan from Bank Mega, with
   fasilitas maksimum sebesar Rp200 miliar dan bersifat                 a maximum facility amount of Rp200 billion and
   revolving. Fasilitas ini memiliki jangka waktu 12 bulan              12 months tenor. This facility has been extended several
   dan telah diperpanjang beberapa kali, dengan terakhir                times, with the latest extension until 9 March 2024.
   diperpanjang sampai dengan 9 Maret 2024. Pada                        As of 31 December 2023 and 2022, ABSM’s loan
   tanggal 31 Desember 2023 dan 2022, saldo pinjaman                    balance at Bank Mega was Rp200 billion. This facility is
   ABSM dari Bank Mega sebesar Rp200 miliar. Fasilitas                  secured with multipurpose financing receivables and
   ini dijamin dengan piutang pembiayaan multiguna dan                  capital financing receivables.
   piutang pembiayaan modal.
3. SMF menerima fasilitas kredit dari PT Bank Pan Indonesia          3. SMF received credit facilities from PT Bank Pan Indonesia
   Tbk (Panin) dengan uraian sebagai berikut.                           Tbk (Panin) with the following details:
   a. Fasilitas pinjaman tetap IV dengan jumlah maksimum                a. Non-revolving fixed loan facility IV, with a maximum
        fasilitas sebesar Rp400 miliar dan bersifat non-                   facility amount of Rp400 billion. This facility will
        revolving. Fasilitas ini akan jatuh tempo pada tanggal             mature on 30 June 2024; and
        30 Juni 2024; dan
   b. Fasilitas pinjaman tetap V dengan jumlah maksimum                 b. Non-revolving fixed loan facility V, with a maximum
        fasilitas sebesar Rp400 miliar dan bersifat non-revolving.           facility amount of Rp400 billion. The availability
        Batas waktu penarikan adalah 3 bulan dengan jatuh                    period is 3 months, with maturity date on
        tempo sampai dengan 27 September 2025.                               27 September 2025.
   Fasilitas ini dijamin secara fidusia dengan piutang                  These facilities are secured with fiduciary guarantees over
   pembiayaan multiguna dan pembiayaan modal kerja                      multipurpose financing receivables, fiduciary guarantees
   skema anjak piutang, serta jaminan dari Perseroan.                   over working capital financing with factoring scheme
                                                                        receivables, and corporate guarantees from the Company.
4. ABSM pada tanggal 7 April 2021 memperoleh fasilitas               4. On 7 April 2021, ABSM obtained a working capital
   kredit modal kerja dalam bentuk installment loan dari                credit facility in the form of an installment loan from
   PT Bank Central Asia Tbk (Bank BCA), dengan jumlah                   PT Bank Central Asia Tbk (Bank BCA), with a maximum
   fasilitas maksimum sebesar Rp500 miliar. Fasilitas ini               facility amount of Rp500 billion and 60 months tenor.
   memiliki jangka waktu 60 bulan dan dijamin dengan                    This facility is secured with finance lease receivables.
   piutang sewa pembiayaan.
5. SMF menerima fasilitas kredit dari PT Bank Danamon                5. SMF received credit facilities from PT Bank Danamon
   Indonesia Tbk (Bank Danamon) dengan uraian sebagai                   Indonesia Tbk (Bank Danamon) with the following
   berikut.                                                             details:
   a. Pada tanggal 15 Juni 2017, SMF memperoleh                         a. On 15 June 2017, SMF obtained a revolving working
        fasilitas kredit modal kerja, dengan jumlah fasilitas              capital credit facility, with a maximum facility amount
        maksimum sebesar Rp100 miliar dan bersifat                         of Rp100 billion and 12 months tenor. This facility
        revolving. Fasilitas ini memiliki jangka waktu 12 bulan            has been extended several times, with the latest
        dan telah diperpanjang beberapa kali dengan jatuh                  maturity date on 15 June 2024; and
        tempo terakhir sampai dengan 15 Juni 2024; dan
   b. Pada tanggal 11 November 2021, SMF memperoleh                     b. On 11 November 2021, SMF obtained a term
        fasilitas kredit angsuran berjangka (KAB) untuk kredit             installment credit facility (KAB) for working capital
        modal kerja (khusus pembiayaan konsumen) dengan                    credit (consumer financing only) with a maximum
        jumlah maksimum sebesar Rp300 miliar. Fasilitas                    amount of Rp300 billion. This facility has a maximum
        ini memiliki jangka waktu penarikan maksimal                       availability period of 12 months from the signing
        12 bulan sejak penandatanganan perjanjian kredit                   of the credit agreement and will mature on
        dan memiliki jatuh tempo hingga 11 November 2025.                  11 November 2025.




              Laporan Tahunan 2023
  178         2023 Annual Report
Page 181
                                                                                PT SINAR MAS MULTIARTHA TBK




    Fasilitas ini dijamin dengan piutang pembiayaan                  These facilities are secured with multipurpose financing
    multiguna, aset tetap, dan jaminan perusahaan dari               receivables, fixed assets, and corporate guarantees from
    Perseroan.                                                       the Company.
6. SMF menerima fasilitas kredit dari PT Bank Sahabat             6. SMF received credit facilities from PT Bank Sahabat
    Sampoerna Tbk (Bank Sampoerna), dengan uraian                    Sampoerna Tbk (Bank Sampoerna) with the following
    sebagai berikut.                                                 details:
    a. Pada tanggal 18 Juni 2020, SMF memperoleh fasilitas           a. On 18 June 2020, SMF obtained a non-revolving
        kredit modal kerja dari Bank Sampoerna, dengan                   working capital credit facility from Bank Sampoerna,
        jumlah fasilitas maksimum sebesar Rp100 miliar dan               with a maximum facility amount of Rp100 billion.
        bersifat non-revolving. Fasilitas ini memiliki jangka            This facility has an availability period of 12 months
        waktu pencairan 12 bulan dan akan jatuh tempo                    and will mature on 18 June 2025;
        pada tanggal 18 Juni 2025;
    b. Pada tanggal 18 Juni 202, SMF memperoleh fasilitas            b. On 18 June 202, SMF obtained a checking account loan
        kredit pinjaman rekening koran, dengan jumlah fasilitas         credit facility, with a facility amount of Rp150 billion.
        sebesar Rp150 miliar. Fasilitas ini telah diperpanjang          This facility has been extended and will mature on
        dan akan jatuh tempo tanggal 18 Juni 2024; dan                  18 June 2024; and
    c. Pada tanggal 25 Agustus 2022, SMF memperoleh                  c. On 25 August 2022, SMF obtained a revolving working
        fasilitas kredit modal kerja, dengan jumlah fasilitas           capital credit facility, with a maximum facility amount
        maksimum sebesar Rp150 miliar dan bersifat                      of Rp150 billion, 12 months tenor, and the latest
        revolving. Fasilitas ini memiliki jangka waktu                  maturity date on 29 August 2024.
        12 bulan dengan jatuh tempo terakhir sampai
        dengan 29 Agustus 2024.
    Fasilitas tersebut dijamin dengan piutang pembiayaan              These facilities are secured with multipurpose financing
    multiguna dan piutang sewa pembiayaan, serta jaminan              receivables and finance lease receivables, as well as
    perusahaan dari SMF.                                              corporate guarantees from SMF.
7. SMF memperoleh fasilitas kredit modal kerja dari PT Bank       7. SMF obtained a revolving working capital credit
    Negara Indonesia (Persero) Tbk (BNI) dengan jumlah                facility from PT Bank Negara Indonesia (Persero) Tbk
    maksimum sebesar Rp350 miliar dan bersifat revolving.             (BNI) with a maximum amount of Rp350 billion. The
    Batas waktu penarikan fasilitas ini adalah 12 bulan dan           availability period for this facility is 12 months and has
    telah diperpanjang beberapa kali, terakhir diperpanjang           been extended several times, with the latest extension
    sampai dengan 25 April 2024. Fasilitas kredit ini dijamin         until 25 April 2024. This credit facility is secured with
    dengan piutang pembiayaan multiguna untuk kredit                  multipurpose financing receivables for motor vehicle
    kendaraan bermotor serta jaminan perusahaan dari SMF.             credit and a corporate guarantee from SMF.
8. ABSM memperoleh fasilitas kredit modal kerja dalam             8. On 13 March 2019, ABSM obtained a revolving working
    bentuk demand loan dari PT Bank Victoria International            capital credit facility in the form of a demand loan from
    Tbk (Bank Victoria), dengan jumlah maksimum sebesar               PT Bank Victoria International Tbk (Bank Victoria), with a
    Rp100 miliar dan bersifat revolving. Fasilitas ini memiliki       maximum facility amount of Rp100 billion and 12 months
    jangka waktu 12 bulan, dan telah diperpanjang dengan              tenor. This facility has been extended several times, with
    jatuh tempo terakhir tanggal 29 Agustus 2024. Fasilitas           the latest maturity date on 29 August 2024. This credit
    kredit ini dijamin dengan deposito berjangka Bank                 facility is secured with a time deposit at Bank Victoria
    Victoria sebesar Rp100 miliar atas Perseroan.                     amounting to Rp100 billion on behalf of the Company.
9. ABSM menerima fasilitas kredit dari PT Bank Ganesha Tbk        9. ABSM received credit facilities from PT Bank Ganesha Tbk
    (Bank Ganesha), dengan uraian sebagai berikut.                    (Bank Ganesha) with the following details:
    a. Fasilitas fixed loan 1 sebesar Rp40 miliar pada tanggal        a. Fixed loan facility 1 amounting to Rp40 billion on
        17 Mei 2019. Fasilitas ini dijamin dengan piutang                  17 May 2019. This facility is secured with working
        pembiayaan modal kerja skema anjak piutang dan                     capital financing with factoring scheme receivables
        aset tetap untuk disewakan berupa kendaraan; dan                   and fixed assets for rent in the form of vehicles; and
    b. Fasilitas fixed loan 2 sebesar Rp40 miliar pada tanggal        b. Fixed loan facility 2 amounting to Rp40 billion on
        27 Juli 2020.                                                      27 July 2020.
    Fasilitas fixed loan 1 dan 2 mempunyai jangka waktu               Fixed loan facilities 1 and 2 have a 12-month tenor
    12 bulan dan telah diperpanjang beberapa kali dengan              and have been extended several times, with the latest
    jatuh tempo terakhir 16 Juni 2024.                                maturity date on 16 June 2024.
10. SMF pada tanggal 24 Juni 2022 memperoleh fasilitas            10. On 24 June 2022, SMF obtained credit facilities from
    kredit dari PT Bank Neo Commerce Tbk (Bank Neo)                   PT Bank Neo Commerce Tbk (Bank Neo) with the
    dengan uraian sebagai berikut.                                    following details:




                                                                                           Laporan Tahunan 2023
                                                                                              2023 Annual Report         179
Page 182
04            ANALISIS DAN PEMBAHASAN MANAJEMEN
              Management Discussion and Analysis




    a. Pinjaman reguler dengan jumlah fasilitas maksimum                 a. Executing revolving regular loan with a maximum
         sebesar Rp200 miliar dan bersifat executive revolving.             facility amount of Rp200 billion. This facility has a
         Fasilitas ini mempunyai jangka waktu pencairan                     maximum availability period of 12 months and will
         maksimal 12 bulan dan akan jatuh tempo tanggal                     mature on 24 June 2024; and
         24 Juni 2024; dan
    b. Pinjaman angsuran dengan jumlah fasilitas                         b. Executing non-revolving installment loan with a
         maksimum sebesar Rp50 miliar dan bersifat executing                maximum facility amount of Rp50 billion. This facility
         non-revolving. Fasilitas ini mempunyai jangka waktu                has 36 months tenor and an availability period of
         pencairan maksimal 36 bulan serta batas waktu                      3 months and will mature on 24 September 2025.
         penarikan 3 bulan dan akan jatuh tempo tanggal
         24 September 2025.
    Fasilitas kredit dari Bank Neo dijamin dengan piutang                These credit facilities from Bank Neo are secured with
    pembiayaan multiguna dan piutang pembiayaan modal                    multipurpose financing receivables and working capital
    kerja skema anjak piutang serta jaminan perusahaan                   financing with factoring scheme receivables, as well as
    dari SMF.                                                            corporate guarantees from SMF.
11. ABSM pada tanggal 12 Agustus 2022 memperoleh fasilitas           11. On 12 August 2022, ABSM obtained a regular-executing
    kredit pinjaman regular-executing revolving dari Bank Neo,           revolving loan credit facility from Bank Neo, with
    dengan jumlah fasilitas maksimum sebesar Rp200 triliun.              a maximum facility amount of Rp200 trillion. On
    Pada tanggal 22 Desember 2022, ABSM mendapatkan                      22 December 2022, ABSM obtained an additional facility
    tambahan fasilitas sebesar Rp150 miliar. Fasilitas ini               of Rp150 billion. This facility has a 12-month tenor and
    memiliki jangka waktu 12 bulan dan telah diperpanjang                has been extended several times until 12 August 2024.
    beberapa kali sampai dengan 12 Agustus 2024.                         This facility is secured with finance lease receivables.
    Fasilitas ini dijamin dengan piutang sewa pembiayaan.
12. SMF pada tanggal 21 Juni 2022 memperoleh fasilitas               12. On 21 June 2022, SMF obtained a credit facility from
    kredit dari PT Bank Mayapada Internasional Tbk                       PT Bank Mayapada Internasional Tbk (Bank Mayapada)
    (Bank Mayapada). Fasilitas pinjaman tetap angsuran                   in the form of an executing fixed installment loan line
    line dengan jumlah maksimum fasilitas sebesar                        facility, with a maximum facility amount of Rp50 billion.
    Rp50 miliar dan bersifat executing. Batas waktu penarikan            The availability period for this facility is 12 months and
    fasilitas adalah 12 bulan dengan jatuh tempo sampai                  will mature on 21 June 2024. As of 31 December 2023,
    dengan 21 Juni 2024. Pada tanggal 31 Desember 2023,                  this facility was not utilized. This facility is secured with
    fasilitas ini tidak digunakan. Fasilitas ini dijamin dengan          multipurpose financing receivables.
    piutang pembiayaan multiguna.
13. ABSM memperoleh fasilitas kredit modal kerja dalam               13. ABSM obtained a working capital credit facility
    bentuk kredit atas permintaan pada tanggal 28 Januari                in the form of a revolving, uncommitted, and advised
    2022 dari PT Bank Jtrust Indonesia Tbk (Bank Jtrust), dengan         demand loan on 28 January 2022 from PT Bank
    jumlah fasilitas maksimum sebesar Rp40 miliar dan                    Jtrust Indonesia Tbk (Bank Jtrust), with a maximum
    bersifat revolving, uncommitted, dan advised. Pada tanggal           facility amount of Rp40 billion. On 6 January 2023,
    6 Januari 2023, nilai maksimum dari fasilitas ini ditingkatkan       the maximum amount of this facility was increased
    menjadi Rp50 miliar dan memiliki jangka waktu 12 bulan,              to Rp50 billion with 12 months tenor. This facility
    serta telah diperpanjang dengan jatuh tempo terakhir                 has been extended with the latest maturity date on
    tanggal 28 Januari 2024. Fasilitas dijamin dengan piutang            28 January 2024. This facility is secured with working
    pembiayaan modal kerja skema anjak piutang.                          capital financing with factoring scheme receivables.



Informasi dan Fakta Material mengenai                                Material Information and Facts related
Investasi, Ekspansi, Divestasi, Akuisisi,                            to Investment, Expansion, Divestment,
dan Restrukturisasi Utang/Modal                                      Acquisition, and Debt/Capital
                                                                     Restructuring

Investasi                                                            Investment
Pada tahun 2023, Perseroan melakukan investasi sebagai               In 2023, the Company made the following investments.
berikut.
1. Tambahan setoran modal pada PT Rizki Lancar Sentosa               1. Additional capital injection into PT Rizki Lancar Sentosa
    (RLS) sebesar Rp8 miliar sehingga persentase kepemilikan            (RLS) amounting to Rp8 billion, resulting in the Company’s
    Perseroan pada RLS menjadi 99,99%.                                   ownership percentage in RLS increased to 99.99%.




              Laporan Tahunan 2023
  180         2023 Annual Report
Page 183
                                                                           PT SINAR MAS MULTIARTHA TBK




2. Perseroan membentuk Entitas Anak baru, yakni               2. The Company established a new Subsidiary, namely
   PT Kreasi Retail Nusantara sehingga persentase                PT Kreasi Retail Nusantara, bringing the Company’s
   kepemilikan Perseroan menjadi 99,60%.                         ownership percentage to 99.60%.
3. Perseroan membeli saham 2.501 lembar PT Pasar Dana         3. The Company purchased 2,501 shares of PT Pasar
   Pinjaman dari Itochu Corporation sebesar Rp705,25 miliar      Dana Pinjaman from Itochu Corporation for Rp705.25
   sehingga persentase kepemilikan Perseroan menjadi             billion, bringing the Company’s ownership percentage to
   99,99%.                                                       99.99%.
4. Tambahan setoran modal pada PT Sinar Mas Multifinance      4. Additional paid-up capital to PT Sinar Mas Multifinance
   sebesar Rp360 miliar sehingga persentase kepemilikan          of Rp360 billion, bringing the Company’s ownership
   Perseroan menjadi 99,99%.                                     percentage to 99.99%.


Akuisisi                                                      Acquisition
Pada tahun 2023, Perseroan tidak melakukan akuisisi.          The Company did not make any acquisitions in 2023.


Divestasi                                                     Divestment
1. Menjual seluruh saham PT Bima Multi Finance kepada         1. Sold all shares of PT Bima Multi Finance to Cedar Street
   Cedar Street Limited yang berkedudukan di Hongkong.           Limited, domiciled in Hongkong.
2. Menjual saham PT Simas Sejahtera sebesar Rp1,00 miliar.    2. Sold shares of PT Simas Sejahtera for Rp1.00 billion.
3. Menjual saham Nanovest Ltd sebesar Rp1,57 miliar.          3. Selling Nanovest Ltd shares for Rp1.57 billion.


Kewajaran Transaksi                                           Fairness of Transaction
Seluruh transaksi dengan investasi dilakukan secara wajar     All transactions with investments were carried out fairly in
sesuai dengan peraturan dan ketentuan yang berlaku.           accordance with the applicable rules and regulations.


Pemenuhan Ketentuan Terkait                                   Compliance with Related Provisions
Informasi mengenai investasi di sepanjang tahun 2023 telah    Information regarding investments made by the Company
diumumkan sebagai keterbukaan informasi melalui Bursa         throughout 2023 has been publicly announced as information
Efek Indonesia.                                               disclosure through the Indonesia Stock Exchange.




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report         181
Page 184
04             ANALISIS DAN PEMBAHASAN MANAJEMEN
               Management Discussion and Analysis




Transaksi Material yang Mengandung                                    Material Transactions Having Conflicts of
Benturan Kepentingan atau Transaksi                                   Interest or Transactions with Affiliates
dengan Pihak Berelasi

Perseroan melakukan transaksi dengan pihak berelasi yang              The Company conducts transactions with affiliates who are
tergabung dalam Grup Sinar Mas sebagaimana yang tercantum             members of Sinar Mas Group as stated in Note 49 to the
dalam Catatan 49 Laporan Keuangan Konsolidasian.                      Consolidated Financial Statements.


Sifat Berelasi                                                        Affiliates Nature
Pihak-pihak berelasi Perseroan terdiri dari:                          The Company’s affiliates consist of:
1. Pemegang Saham (termasuk Pemegang Saham akhir);                    1. Shareholders (including the ultimate Shareholders);
2. Perusahaan-perusahaan yang dimiliki secara langsung                2. Companies directly or indirectly owned by the Company’s
    atau tidak langsung oleh Pemegang Saham Perseroan; dan               Shareholders; and
3. Perusahaan-perusahaan yang dikendalikan oleh anggota               3. Companies controlled by close family members of the
    keluarga dekat Pemegang Saham dan Manajemen Kunci                    Company’s Shareholders and Key Management.
    Perseroan.


Transaksi dengan Pihak Berelasi                                       Transactions with Affiliates
Transaksi dengan pihak berelasi Perseroan diungkapkan                 Transactions with the Company’s affiliates are disclosed as
sebagai berikut.                                                      follows.
1. Saldo dalam Laporan Posisi Keuangan Konsolidasian yang             1. The balances in the Consolidated Statement of Financial
   merupakan transaksi dengan pihak-pihak berelasi yang                    Position that are material transactions with affiliates at
   material pada tanggal pelaporan diuraikan sebagai berikut.              the reporting date are as follows.


                                                          (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                2023                                      2022
                                                    Persentase                                 Persentase
                                                     terhadap                                   terhadap
                                                   Jumlah Aset/                               Jumlah Aset/
               Uraian              Jumlah            Liabilitas            Jumlah               Liabilitas                   Description
                                    Total           Percentage              Total              Percentage
                                                      of Total                                   of Total
                                                      Assets/                                    Assets/
                                                     Liabilities                                Liabilities

     Aset                                                                                                            Assets
     Investasi Jangka Pendek      24,097,445           21.14               29,257,310               25.57            Short-Term Investment
     Piutang Pembiayaan                                                                                              Multipurpose Financing
                                        756             0.00                       802                0.00
     Multiguna                                                                                                       Receivables
     Piutang Sewa Pembiayaan          64,763            0.06                    83,662                0.07           Finance Lease Receivables
     Piutang Pembiayaan                                                                                              Working Capital Financing
     Modal Kerja Skema Anjak          14,554            0.01                    61,843                0.05           with Factoring Scheme
     Piutang                                                                                                         Receivables
     Piutang Premi dan                                                                                               Premium and
                                       7,184            0.01                1,000,143                 0.87
     Reasuransi                                                                                                      Reinsurance Receivables
     Kredit yang Diberikan            96,104            0.08                    79,150                0.07           Loans
     Piutang Lain-Lain              373,759             0.33                1,004,472                 0.88           Other Receivables
     Aset Lain-Lain                1,351,102            1.19                1,403,115                 1.23           Other Assets
     Total Aset                   26,005,667           22.82              32,890,497                28.75            Total Assets
     Liabilitas                                                                                                      Liabilities
     Simpanan dan Simpanan                                                                                           Deposits and Deposits
                                   7,542,621            8.46                5,477,224                 6.04
     dari Bank Lain                                                                                                  from Other Banks
     Utang Asuransi                   18,471            0.02                  138,781                 0.15           Insurance Payables
     Beban Akrual                           -              -                         20               0.00           Accrued Expenses
     Liabilitas Lain-Lain           746,045             0.84                1,108,570                 1.22           Other Liabilities
     Total Liabilitas              8,307,137            9.32                6,724,595                 7.41           Total Liabilities




               Laporan Tahunan 2023
  182          2023 Annual Report
Page 185
                                                                                    PT SINAR MAS MULTIARTHA TBK




2. Pada tanggal 31 Desember 2023 dan 2022, Perseroan             2. As of 31 December 2023 and 2022, the Company
   dan Entitas Anak menginvestasikan dana masing-masing             and its Subsidiaries invested funds amounting to
   sebesar Rp137,33 triliun dan Rp56,57 triliun dalam unit          Rp137.33 trillion and Rp 56.57 trillion, respectively,
   penyertaan reksa dana yang dikelola olah PT Sinarmas             in mutual fund units managed by PT Sinarmas Sekuritas,
   Sekuritas, Entitas Anak, sebagai manajer investasi;              a Subsidiary, as the investment manager;
3. Perseroan dan Entitas Anak telah mengasuransikan              3. The Company and its Subsidiaries insured their
   properti investasi dan aset tetap pada PT Asuransi               investment properties and fixed assets with PT Asuransi
   Sinar Mas;                                                       Sinar Mas;
4. Beban gaji dan tunjangan yang telah dibayar oleh              4. The Company and its Subsidiaries paid salaries and
   Perseroan dan Entitas Anak kepada seluruh Dewan                  benefits to all members of the Board of Commissioners
   Komisaris dan Direksi untuk tahun 2023 dan                       and the Board of Directors for the years 2023 and 2022,
   2022, masing-masing sebesar Rp577,19 miliar dan                  amounting to Rp577.19 billion and Rp404.14 billion,
   Rp404,14 miliar;                                                 respectively;
5. Pada tanggal 31 Desember 2023 dan 2022, saldo                 5. As of 31 December 2023 and 2022, the balance of
   transaksi komitmen dan kontinjensi (L/C dan bank                 commitment and contingency transactions (L/C and bank
   garansi) dengan pihak berelasi masing-masing sebesar             guarantees) with affiliates amounted to Rp116.36 billion
   Rp116,36 miliar dan Rp104,77 miliar; dan                         and Rp104.77 billion, respectively; and
6. Transaksi dengan pihak-pihak berelasi dilakukan dengan        6. Transactions with affiliates were conducted at normal
   kebijakan harga dan syarat normal, sebagaimana                   prices and terms, as applied to non-affiliates, except for
   dilakukan dengan pihak yang tidak berelasi, kecuali              multipurpose financing receivables to employees.
   piutang pembiayaan multiguna kepada karyawan.


Seluruh transaksi dengan pihak berelasi dilakukan secara         All transactions with affiliates were conducted fairly in
wajar sesuai dengan peraturan dan ketentuan yang berlaku.        accordance with applicable regulations and provisions.



Komitmen dan Kontinjensi                                         Commitments and Contingency

Entitas Anak Perseroan memiliki komitmen dan kontinjensi         The commitments and contingencies of the Company’s
sebagai berikut.                                                 Subsidiaries are as follows.
1. Bank Sinarmas selaku Entitas Anak, memiliki komitmen          1. Bank Sinarmas, as a Subsidiary, has unsettled
    pembelian dan penjualan tunai mata uang asing yang              commitments to purchase and sell foreign currencies in
    belum diselesaikan dengan rincian sebagai berikut.              cash, as follows.


                                                       (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                        Uraian                       2023            2022                                 Description

    Pembelian Tunai Mata Uang Asing                                                Cash Purchase of Foreign Currency
    (Spot, Forward, dan Swap)                                                      (Spot, Forward, and Swap)
    Dolar Amerika Serikat                             515,800        778,375       United States Dollar
    Dolar Singapura                                     7,696                 -    Singapore Dollar
    Yuan China                                               -          6,704      Chinese Yuan
    Pembelian Tunai Mata Uang Asing                                                Cash Purchase of Foreign Currency
    (Spot, Forward, dan Swap)                                                      (Spot, Forward, and Swap)
    Dolar Amerika Serikat                           2,546,597        770,591       United States Dollar
    Total                                           2,546,597        770,591       Total


   Pada tanggal 31 Desember 2023 dan 2022, transaksi                  As of 31 December 2023 and 2022, the above spot,
   spot, forward, dan swap di atas akan selesai masing-               forward, and swap transactions will be settled within
   masing dalam 1 hari sampai 19 hari, dan 1 hari sampai              1 to 19 days and 1 to 83 days, respectively.
   83 hari.




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report                 183
Page 186
04            ANALISIS DAN PEMBAHASAN MANAJEMEN
              Management Discussion and Analysis




2. Bank Sinarmas memiliki tagihan dan liabilitas komitmen         2. Bank Sinarmas has commitment and contingent
   dan kontinjensi dalam rangka ekspor-impor, pemberian              receivables and liabilities related to export-import,
   garansi dan pemberian kredit kepada nasabah dengan                providing guarantees, and providing credit to customers
   rincian sebagai berikut.                                          with the following details.


                                                        (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                            Uraian                    2023            2022                                 Description

    Komitmen                                                                        Commitments
    Liabilitas Komitmen                                                             Commitment Liabilities
    Fasilitas Kredit kepada Nasabah yang Belum
                                                      474,753          348,768      Unused Credit Facility to Customers
    Digunakan
    Irrevocable Letter of Credit                      103,015            65,041     Irrevocable Letter of Credit
    Total                                             577,768          413,809      Total
    Kontijensi                                                                      Contingencies
    Tagihan Kontijensi                                                              Contingent Receivables
    Pendapatan Bunga dalam Penyelesaian                32,112            86,735     Past-due Interest Income
    Liabilitas Kontijensi                                                           Contingent Liabilities
    Bank Garansi                                      924,115        1,344,633      Bank Guarantee
    Total - Bersih                                   (892,003)     (1,257,898)      Total - Net



   Pada tanggal 31 Desember 2023 dan 2022, saldo                       As of 31 December 2023 and 2022, the balance of
   transaksi komitmen dan kontinjensi berupa letters of                commitment and contingency transactions, namely letters
   credit dan bank garansi dengan pihak berelasi masing-               of credit and bank guarantees, with affiliates amounted to
   masing sebesar Rp116,36 miliar dan Rp104,77 miliar.                 Rp116.36 billion and Rp104.77 billion, respectively.


   Pada tanggal 31 Desember 2023 dan 2022 jangka waktu                 As of 31 December 2023 and 2022, the tenors for letters
   untuk letter of credit masing-masing berkisar antara                of credit ranged between 1–5 months and 1–7 months,
   1-5 bulan, dan 1-7 bulan, sedangkan untuk bank garansi              respectively, while for bank guarantees, the tenors ranged
   masing-masing berkisar antara 1-61 bulan dan 1-60 bulan.            between 1–61 months and 1–60 months, respectively.


   Saldo letter of credit yang dijamin dengan jaminan tunai            The balance of the letters of credit secured with cash
   pada tanggal 31 Desember 2023 dan 2022 masing-                      collateral as of 31 December 2023 and 2022 was Rp191
   masing adalah sebesar Rp191 juta dan Rp3,76 miliar.                 million and Rp3.76 billion, respectively.


   Saldo bank garansi yang dijamin dengan jaminan tunai                The balance of bank guarantees secured with cash
   pada tanggal 31 Desember 2023 dan 2022 masing-masing                collateral as of 31 December 2023 and 2022 was
   adalah sebesar Rp650,89 miliar dan Rp996,82 miliar.                 Rp650.89 billion and Rp996.82 billion, respectively.



Instrumen Keuangan Derivatif dan                                  Derivative Financial Instruments and
Aktivitas Lindung Nilai                                           Hedging Activities

Perseroan melakukan transaksi instrumen keuangan                  The Company carried out derivative financial instruments
derivatif berupa kontrak tunai dan berjangka mata uang            transactions in the form of cash and futures contracts
asing. Instrumen keuangan derivatif diukur dan disajikan          in foreign currency. Derivative financial instruments are
di Laporan Posisi Keuangan pada nilai wajar dengan                measured and presented in the Statement of Financial
menggunakan harga pasar. Derivatif dicatat sebagai aset           Position at fair value using market prices. A derivative
apabila memiliki nilai wajar positif dan sebagai liabilitas       instrument is recorded as an asset if it has a positive fair
apabila memiliki nilai wajar negatif. Keuntungan atau             value and a liability if it has a negative fair value. Gains or
kerugian yang terjadi dari perubahan nilai wajar diakui           losses resulting from changes in fair value are recognized
dalam laba/rugi.                                                  in profit/loss.




              Laporan Tahunan 2023
  184         2023 Annual Report
Page 187
                                                                                  PT SINAR MAS MULTIARTHA TBK




Aspek Pemasaran                                                   Marketing Aspect

Strategi Pemasaran                                                Marketing Strategy
Strategi pemasaran Perseroan dan Entitas Anak tahun 2023,         The marketing strategy of the Company and its Subsidiaries
yaitu:                                                            for 2023 is as follows:
1. Restrukturisasi portofolio bisnis, termasuk sumber             1. Restructuring business portfolio, including business
    bisnis;                                                           sources;
2. Mengembangkan dan memaksimalkan bisnis dari Grup;              2. Developing and maximizing the Group’s business;
3. Mengembangkan bisnis kerja sama dengan bank daerah;            3. Developing business cooperation with regional banks;
4. Mengembangkan bisnis agency; dan                               4. Developing agency business; and
5. Mengembangkan produk digital Entitas Anak.                     5. Developing the Subsidiaries’ digital products.


Pangsa Pasar                                                      Market Share
Perseroan berkeyakinan bahwa posisi perusahaan di pangsa          The Company believes that its position in the domestic
pasar domestik akan tetap bertahan meskipun berada di             market will remain stable even amidst the increasingly
tengah persaingan industri lembaga keuangan dan/atau              complex competition in the financial institutions and/or
lembaga keuangan non-bank yang semakin kompleks                   non-bank financial institutions industry and the global and
serta ketidakpastian perekonomian global dan nasional.            national economic uncertainties. This optimism is in line with
Optimisme ini sejalan dengan kinerja Entitas Anak yang            the fairly good performance of the Company’s Subsidiaries,
cukup baik dan mampu bertahan di Indonesia.                       which have demonstrated resilience in Indonesia.



Perbandingan Target dan Realisasi 2023                            Comparison of Target and Realization for
serta Target 2024                                                 2023 and Target for 2024

Pencapaian target kinerja keuangan Perseroan tahun 2023           The achievement of the Company’s financial performance
dan proyeksi untuk 2024 diungkapkan sebagai berikut.              targets for 2023 and projections for 2024 are disclosed as
                                                                  follows.


                                            (dalam jutaan Rupiah, kecuali dinyatakan lain / in million Rupiah, unless stated otherwise)

                                                  2023                                  2024

              Uraian                                             Pencapaian                                    Description
                               Realisasi
                                                 Target         Achievement            Target
                              Realization
                                                                     (%)

 Aset                         113,966,010      120,254,254           94.77            126,608,675     Assets
 Liabilitas                    89,137,464        94,469,649          94.36             98,704,545     Liabilities
 Ekuitas                       24,828,546        25,784,605          96.29             27,904,130     Equity
 Pendapatan                    26,930,150        35,552,670          75.75             34,729,437     Income
 Beban                         25,645,893        33,260,224          77.11             32,396,765     Expenses
 Laba Tahun Berjalan            1,188,715         2,109,546          56.35              2,119,525     Profit for the Year



Prospek Usaha 2024                                                Business Prospect of 2024

Tahun 2024 perekonomian global tetap diwarnai oleh                In the face of significant challenges that continue to
tantangan yang signifikan dan pertumbuhan ekonomi                 characterize the global economy in 2024, with an anticipated
akan melambat. Namun, proyeksi pertumbuhan ekonomi                slowdown in economic growth, the projection for Indonesia’s
nasional tahun 2024 tetap optimis dengan tumbuh kisaran           economic growth remains optimistic, with an estimated
5,0%. Pertumbuhan ekonomi Indonesia akan ditopang                 growth rate of around 5.0%. This growth is expected to be
oleh konsumsi domestik dan belanja pemerintah sejalan             driven by domestic consumption and government spending,
dengan berlanjutnya pembangunan Proyek Strategis                  in line with the ongoing development of the National
Nasional (PSN).                                                   Strategic Projects (PSN).




                                                                                             Laporan Tahunan 2023
                                                                                                2023 Annual Report           185
Page 188
04              ANALISIS DAN PEMBAHASAN MANAJEMEN
                Management Discussion and Analysis




Sejalan dengan tetap kuatnya pertumbuhan ekonomi                With the robust domestic economic growth, credit growth is
domestik pertumbuhan kredit diprakirakan meningkat              projected to increase in the range of 10–12% in 2024. Bank
dalam kisaran 10-12% pada 2024. Bank Indonesia akan             Indonesia will continue to ensure the effectiveness of the
terus menjaga efektivitas implementasi Kebijakan Insentif       implementation of the Macroprudential Liquidity Incentive
Likuiditas Makroprudensial (KLM) dan memperkuat sinergi         Policy (KLM). Furthermore, Bank Indonesia will strengthen
dengan pemerintah, otoritas keuangan, kementerian/              synergies with the government, financial authorities,
lembaga dan perbankan, serta pelaku usaha untuk                 ministries/agencies, the banking sector, and business entities
mendorong penyaluran kredit/pembiayaan perbankan                to encourage the disbursement of banking credit/financing to
pada sektor-sektor berdaya ungkit besar untuk mendukung         sectors that have a significant impact on the overall economy,
pertumbuhan ekonomi yang berkelanjutan.                         thereby supporting sustainable economic growth.

Sumber:                                                         Source:
Laporan Kebijakan Moneter Triwulan IV 2023, Bank Indonesia.     Monetary Policy Report Quarter IV 2023, Bank Indonesia.




Strategi Usaha 2024                                             Business Strategy of 2024

Strategi usaha Perseroan tahun 2024, meliputi:                  The Company’s business strategy for 2024 includes:
1. Meningkatkan sinergi antar Entitas Anak;                     1. Increasing the synergy between Subsidiaries;
2. Melakukan investasi pada sektor-sektor strategis dan         2. Investing in strategic sectors and promoting
    mendorong efektivitas dan efisiensi Perseroan dan Entitas      effectiveness and efficiency in the Company and its
    Anak sehingga akan meningkatkan laba konsolidasi               Subsidiaries to increase the consolidated profit of
    Perseroan;                                                     the Company;
3. Meningkatkan infrastruktur teknologi informasi melalui       3. Improving the information technology infrastructure
    program yang berkelanjutan, meliputi pengintegrasian           through sustainable programs, including the integration
    berbagai efektivitas perusahaan demi meningkatkan              of various company activities to increase efficiency and
    efisiensi dan efektivitas yang berkelanjutan;                  effectiveness in a sustainable manner;
4. Menerapkan teknologi yang sesuai dengan perkembangan         4. Implementing technology in accordance with business
    usaha dan dapat menciptakan peluang usaha baru,                development and creating new business opportunities,
    seperti e-bisnis; serta                                        such as e-business; and
5. Mencari terobosan-terobosan baru dalam perkembangan          5. Looking for new breakthroughs in business development
    usaha seiring dengan perkembangan perekonomian                 in line with the economic developments by continuously
    dengan senantiasa meningkatkan kualitas dan                    improving the quality and experience of employees and
    pengalaman para karyawan dan Tim Manajemen untuk               the Management Team to meet future challenges.
    menyongsong tantangan di masa depan.



Informasi Material Setelah Tanggal                              Material Information after the Date of
Laporan Akuntan                                                 Accountant’s Report

Per tanggal 1 Januari 2024, Akta No. 2 tanggal 2 Januari 2024   As of 1 January 2024, according to Deed No. 2 dated 2 January
yang dibuat di hadapan Aulia Taufani SH, notaris di Jakarta,    2024, made before Aulia Taufani SH, a notary in Jakarta, the
Pemisahan Unit Usaha Syariah PT Bank Sinarmas Tbk telah         Separation of the Sharia Business Unit of PT Bank Sinarmas
efektif dilakukan dengan pendirian Bank Umum Syariah            Tbk has been effective with the establishment of a new
baru dengan nama PT Bank Nano Syariah. Informasi lebih          Sharia Commercial Bank under the name PT Bank Nano
lengkap terkait hal ini dapat dilihat pada Catatan 61 Laporan   Syariah. Detailed information is available in Note 61 to the
Keuangan Konsolidasian.                                         Consolidated Financial Statements.



Perubahan Peraturan Perundang-                                  Amendments to Laws and
Undangan yang Berdampak Signifikan                              Regulations with a Significant Impact
terhadap Perusahaan                                             on the Company

Sepanjang tahun 2023, tidak terdapat perubahan peraturan        Throughout 2023, there were no changes in laws and
perundang-undangan yang berdampak signifikan terhadap           regulations that had a significant impact on the Company.
Perseroan.




                Laporan Tahunan 2023
   186          2023 Annual Report
Page 189
                                                                           PT SINAR MAS MULTIARTHA TBK




Perubahan Kebijakan Akuntansi                                Changes in Accounting Policy

Perubahan kebijakan akuntansi yang berlaku di tahun          Changes in accounting policies that took effect in 2023
2023 namun tidak menyebabkan perubahan signifikan            but did not cause significant changes to the Company’s
atas kebijakan akuntansi Perseroan dan tidak berdampak       accounting policies and had no material impact on the
material terhadap jumlah-jumlah yang dilaporkan dalam        amounts reported in the current or previous year’s financial
laporan keuangan tahun berjalan maupun sebelumnya,           statements are as follows:
diuraikan sebagai berikut.
1. Amandemen Pernyataan Standar Akuntansi Keuangan           1. Amendment to Indonesian Financial Accounting
    (PSAK) No. 1: “Penyajian Laporan Keuangan” tentang          Standards (PSAK) No. 1: “Presentation of Financial
    Pengungkapan Kebijakan Akuntansi yang Mengubah              Statements” regarding Disclosure of Accounting Policies
    Istilah “Signifikan” menjadi “Material” dan Memberi         that Changes the Term “Significant” to “Material” and
    Penjelasan mengenai Kebijakan Akuntansi Material;           Provides Explanation about Material Accounting Policies;
2. Amandemen PSAK No. 16, Aset Tetap: Hasil Sebelum          2. Amendment to PSAK No. 16, Property, Plant, and
    Penggunaan yang Diintensikan;                               Equipment: Proceeds Before Intended Use;
3. Amandemen PSAK No. 25, Kebijakan Akuntansi,               3. Amendment to PSAK No. 25, Accounting Policies,
    Perubahan Estimasi Akuntansi dan Kesalahan: Definisi        Changes in Accounting Estimates and Errors: Definition
    Estimasi Akuntansi;                                         of Accounting Estimates;
4. Amandemen PSAK No. 46, Pajak Penghasilan: Pajak           4. Amendment to PSAK No. 46, Income Taxes: Deferred
    Tangguhan terkait Aset dan Liabilitas yang Timbul dari      Tax related to Assets and Liabilities Arising from a Single
    Transaksi Tunggal; serta                                    Transaction; and
5. Amandemen PSAK No. 107, “Akuntansi Ijarah”.               5. Amendment to PSAK No. 107, “Ijarah Accounting”.




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report         187
Page 190
01

02

03

04

      05
06




      TATA KELOLA
      PERUSAHAAN

      Laporan Tahunan 2023
188   2023 Annual Report
Page 191
Corporate Governance



      Laporan Tahunan 2023
         2023 Annual Report   189
Page 192
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




Komitmen dan Penerapan GCG
Commitment and Implementation of GCG

Perseroan meyakini bahwa penerapan tata kelola perusahaan                 The Company believes that the implementation of an
yang baik (good corporate governance/GCG) yang terintegrasi               integrated Good Corporate Governance (GCG) will lead to an
mampu melahirkan budaya kerja yang optimal dan kondusif.                  optimal and conducive work culture. Hence, the Company
Maka dari itu, Perseroan senantiasa menerapkan prinsip-prinsip            constantly implement GCG in every line of business. In
GCG di setiap lini usaha. Pada tahun 2023, Perseroan mulai                2023, the Company starts initiating the implementation
menerapkan prinsip GCG sesuai dengan pedoman terbaru yang                 of GCG according to the latest guidelines issued by the
diterbitkan oleh Komite Nasional Kebijakan Governansi, yaitu              National Committee for Governance Policy, namely
Pedoman Umum Governansi Korporat Indonesia (PUGKI) 2021,                  Indonesian General Guidelines of Corporate Governance
dengan pengembangan prinsip-prinsip GCG sebagai berikut.                  (PUGKI) 2021, with the following development of GCG principles.


 PERILAKU BERETIKA / Ethical Behavior

                        Perseroan senantiasa mengedepankan kejujuran, memperlakukan semua pihak dengan hormat (respect),
                        memenuhi komitmen, membangun serta menjaga nilai-nilai moral dan kepercayaan secara konsisten. Perseroan
                        juga memperhatikan kepentingan Pemegang Saham dan pemangku kepentingan lainnya berdasarkan asas
                        kewajaran dan kesetaraan (fairness) dan dikelola secara independen sehingga masing-masing organ Perseroan
                        tidak saling mendominasi dan tidak dapat diintervensi oleh pihak lainnya.
                        The Company always prioritizes honesty, treating every party with respect, fulfilling commitment, consistently building
                        and maintaining moral values and trust. The Company also pays attention to the interests of Shareholders and other
                        stakeholders based on fairness and equality principles, and managed it independently, so each Company organ
                        is not dominating each other dan cannot be intervened by other parties.




 AKUNTABILITAS / Accountability

                        Perseroan dapat mempertanggungjawabkan kinerjanya secara transparan dan wajar. Untuk itu, Perseroan harus
                        dikelola dengan benar, terukur, dan sesuai dengan kepentingan korporat dengan tetap mempertimbangkan
                        kepentingan Pemegang Saham dan pemangku kepentingan. Akuntabilitas merupakan prasyarat yang diperlukan
                        untuk mencapai kinerja yang berkelanjutan.
                        The Company holds itself accountable for its performance in a transparent and fair manner. Thus, the Company
                        must be managed properly, measurably, and in line with corporate interests while still considering the interests
                        of Shareholders and stakeholders. Accountability is a necessary prerequisite to achieve sustainable performance.




 TRANSPARANSI / Transparency

                        Untuk menjaga objektivitas dalam menjalankan bisnis, Perseroan menyediakan informasi yang material dan relevan
                        dengan cara yang mudah diakses dan dipahami oleh pemangku kepentingan. Perseroan mengambil inisiatif untuk
                        mengungkapkan tidak hanya masalah yang diisyaratkan oleh peraturan perundang-undangan, tetapi juga hal yang
                        penting untuk pengambilan keputusan oleh Pemegang Saham, kreditur, dan pemangku kepentingan lainnya.
                        The Company provides material and relevant information in a way that is easily accessible and understood
                        by stakeholders. The Company took the initiative to disclose issues that is not only required by the laws
                        and regulations, but also important for decision making by Shareholders, creditors, and other stakeholders.




 KEBERLANJUTAN / Sustainability

                        Perseroan mematuhi peraturan perundang-undangan dan berkomitmen melaksanakan tanggung jawab terhadap
                        masyarakat dan lingkungan, agar berkontribusi pada pembangunan berkelanjutan melalui kerja sama dengan
                        semua pemangku kepentingan terkait untuk meningkatkan kehidupan yang selaras dengan kepentingan bisnis dan
                        agenda pembangunan berkelanjutan.
                        The Company always comply with laws and regulations and committed to carry out responsibilities toward
                        the society and environment to contribute in achieving sustainable development by collaborating with
                        all relevant stakeholders to improve the quality of their life in a way that is align with business interests
                        and sustainable development agenda.




             Laporan Tahunan 2023
  190        2023 Annual Report
Page 193
                                                                                 PT SINAR MAS MULTIARTHA TBK




Tujuan Penerapan GCG
Objective of GCG Implementation

Perseroan menerapkan GCG dengan tujuan sebagai berikut.           The Company is implementing GCG with the following
1. Mengarahkan dan mengendalikan hubungan antara                  objectives:
   organ Perseroan (Pemegang Saham, Dewan Komisaris,              1. Directing and managing the relationship between
   dan Direksi), karyawan, nasabah, mitra kerja, serta                the Company’s organ (Shareholders, Board of
   masyarakat, atau lingkungan;                                       Commissioners, and Board of Directors), employees,
2. Meningkatkan pertanggungjawaban kepada para                        customers, business partners, and community, or
   pemangku kepentingan;                                              environment;
3. Meningkatkan nilai tambah Perseroan menjadi semakin            2. Improving accountability to the stakeholders;
   baik;                                                          3. Improving the Company’s added value;
4. Mengelola sumber daya secara lebih amanah;                     4. Managing the Company’s resources more trustfully;
5. Mengelola risiko secara lebih baik;                            5. Managing risk better;
6. Mencegah terjadinya penyimpangan dalam pengelolaan             6. Preventing any irregularities in the management of the
   Perseroan;                                                         Company;
7. Memperbaiki budaya kerja Perseroan, serta                      7. Improving the Company’s work culture; and
8. Mendorong dan mendukung pengembangan Perseroan.                8. Encouraging and supporting the Company’s development.




Struktur dan Mekanisme Penerapan GCG
Structure and Mechanism of GCG Implementation

Perseroan menetapkan struktur GCG sebagai panduan                 The Company forms the GCG structure as a guideline to
untuk mengatur peran, tugas, dan tanggung jawab organ             determine the functions, duties, and responsibilities of the
perusahaan dalam menerapkan GCG. Struktur GCG Perseroan           company’s organs in implementing GCG. The Company’s
diungkapkan sebagai berikut.                                      GCG structure is disclosed as follows.


                                                  Rapat Umum Pemegang Saham
                                                   General Meeting Shareholder




                         Direksi                                                        Dewan Komisaris
                    Board of Directors                                               Board of Commissioners




                                                                                                      Komite Nominasi dan
   Sekretaris Perusahaan                 Audit Internal                  Komite Audit                    Remunerasi
    Corporate Secretary                  Internal Audit                 Audit Committee                 Nomination and
                                                                                                     Remuneration Comittee



Selain itu, setiap organ perusahaan wajib mengikuti aturan        In addition, each company’s organ is required to follow the
dan pedoman yang berlaku dalam menjalankan GCG, meliputi:         applicable rules and guidelines in implementing GCG, such as:
1. Anggaran Dasar;                                                1. Articles of Association;
2. Pedoman Dewan Komisaris;                                       2. Board of Commissioners’ Manual;
3. Pedoman Direksi;                                               3. Board of Directors’ Manual;
4. Piagam Komite Audit;                                           4. Audit Committee Charter;
5. Piagam Audit Internal;                                         5. Internal Audit Charter;
6. Piagam Komite Nominasi dan Remunerasi; serta                   6. Nomination and Remuneration Committee Charter; and
7. Kode Etik.                                                     7. Code of Ethics.




                                                                                          Laporan Tahunan 2023
                                                                                             2023 Annual Report        191
Page 194
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




Penerapan Pedoman
Tata Kelola Perusahaan Terbuka
Implementation of Public Company Governance Guideline

Penerapan GCG Perseroan telah disesuaikan dengan                       The Company’s GCG implementation has been adjusted to
Panduan Tata Kelola Perusahaan Terbuka yang dimuat                     the Corporate Governance Guidelines for Public Companies
dalam Surat Edaran Otoritas Jasa Keuangan No. 32/                      as stipulated in the Financial Services Authority Circular Letter
SEOJK.04/2015. Penjelasan mengenai penerapan panduan                   No. 32/SEOJK.04/2015. The description of the implementation
tersebut pada tahun 2023 dijabarkan sebagai berikut.                   of the guidelines in 2023 is disclosed as follows.


                 Aspek/Prinsip/Rekomendasi                                                             Keterangan
No.                                                                 Status
              Aspect/Principle/Recommendation                                                          Description

      Hubungan Perusahaan Terbuka dengan Pemegang Saham dalam Menjamin Hak-Hak Pemegang Saham
 I.
      Relationship between Public Company with Shareholders in Guaranteeing the Shareholders Rights
      Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS).
 1.
      To Improve the Value of General Meeting of Shareholders (GMS) Implementation.
      a. Perusahaan Terbuka memiliki cara atau prosedur            Terpenuhi   Ketentuan terkait prosedur teknis pengumpulan suara
         teknis pengumpulan suara (voting), baik secara terbuka                (voting), khususnya dalam pengambilan keputusan RUPS,
         maupun tertutup, yang mengedepankan independensi                      tercantum dalam Anggaran Dasar dan Peraturan Perusahaan.
         dan kepentingan Pemegang Saham.
        Public Company has methods or technical procedures          Comply     Provisions on technical procedures of voting, particularly
        for conducting open or closed voting that prioritize the               in GMS decision-making, are listed in the Articles of
        independence and interest of Shareholders.                             Association and Company Regulations.
      b. Seluruh anggota Dewan Komisaris dan anggota Direksi Penjelasan Pada tahun 2023, terdapat anggota Dewan Komisaris yang
         Perusahaan Terbuka hadir dalam RUPS Tahunan.                       tidak menghadiri RUPS Tahunan. Namun demikian, yang
                                                                            bersangkutan telah memberikan kuasa melalui perwakilan
         All members of the Board of Commissioners and Board of Explanation yang hadir.
        Directors of the Public Company attend the Annual GMS.                 In 2023, there are members of the Board of Commissioners
                                                                               who are absent from the Annual GMS. However, the person
                                                                               concerned provided power of attorney via the attending
                                                                               proxies.
      c. Ringkasan risalah RUPS tersedia dalam situs web           Terpenuhi   Ringkasan risalah RUPS tersedia di situs web Perseroan
         Perusahaan Terbuka paling sedikit selama 1 tahun.          Comply     pada bagian Berita >> Perusahaan.
        Summary of Minutes of GMS is available on the Public                   Summary of Minutes of GMS is available in the Company’s
        Company’s website for at least 1 year.                                 website under News >> Corporate section.
      Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.
 2.
      To Improve the Quality of Communication between the Public Company and the Shareholders or Investors.
      a. Perusahaan Terbuka memiliki suatu kebijakan komunikasi    Terpenuhi   Perseroan memiliki basis komunikasi dengan Pemegang
         dengan Pemegang Saham atau investor.                                  Saham atau investor dalam Kode Etik dan Pedoman Tingkah
                                                                               Laku yang dilaksanakan secara konsisten. Perseroan
                                                                               menerapkan kebijakan tersebut dan menjamin terpenuhinya
                                                                               hak-hak Pemegang Saham atau investor.
        Public Company has a communication policy with              Comply     The Company has a communication basis with the Shareholders
        Shareholders or investors.                                             or Investors in the Code of Ethics and Code of Conduct, which is
                                                                               consistently implemented. The Company implements the policy
                                                                               and ensures the fulfillment of the rights of the Shareholders
                                                                               or investors.
      b. Perusahaan Terbuka mengungkapkan kebijakan komunikasi     Terpenuhi   Perseroan mengungkapkan kebijakan komunikasi dengan
         Perusahaan Terbuka dengan Pemegang Saham atau                         Pemegang Saham dalam Laporan Tahunan yang dimuat
         investor dalam situs web.                                             dalam situs web Perseroan.
        Public Company discloses its communication policy with      Comply     The Company discloses its communication policy to Shareholders
        the Shareholders or investors on the website.                          in the Annual Report posted on the Company’s website.




              Laporan Tahunan 2023
  192         2023 Annual Report
Page 195
                                                                                            PT SINAR MAS MULTIARTHA TBK




                  Aspek/Prinsip/Rekomendasi                                                               Keterangan
No.                                                                     Status
               Aspect/Principle/Recommendation                                                            Description

      Fungsi dan Peran Dewan Komisaris
II.
      Functions and Roles of the Board of Commissioners
      Memperkuat Keanggotaan dan Komposisi Dewan Komisaris.
3.
      To Strengthen the Membership and Composition of the Board of Commissioners.
      a. Penentuan  jumlah   anggota    Dewan     Komisaris            Terpenuhi   Penentuan jumlah anggota Dewan Komisaris                telah
         mempertimbangkan kondisi Perusahaan Terbuka.                              mempertimbangkan kondisi terkini Perseroan.
        Determination of the number of the Board of Commissioners’      Comply     Determination on the number of the Board of Commissioners’
        members considers the condition of the Public Company.                     members has consider the current condition of the Company.
      b. Penentuan komposisi anggota Dewan Komisaris                   Terpenuhi   Komposisi Dewan Komisaris Perseroan sesuai dengan
         memperhatikan keberagaman keahlian, pengetahuan,                          ketentuan yang mengatur tentang keahlian, pengetahuan,
         dan pengalaman yang dibutuhkan.                                           pengalaman, serta sesuai dengan bidang usaha Perseroan.
        Determination of the composition of the Board of                Comply     The composition of the Company’s Board of Commissioners’
        Commissioners’ members considers the diversity of                          is aligned with the provisions on the expertise, knowledge,
        expertise, knowledge, and experience required.                             and experience and in line with the Company’s business line.
      Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.
4.
      To Improve the Implementation Quality of the Board of Commissioners’ Duties and Responsibilities.
      a. Dewan Komisaris mempunyai kebijakan penilaian sendiri         Terpenuhi   Penilaian kinerja Dewan Komisaris Perseroan dilakukan dalam
         (self-assessment) untuk menilai kinerja Dewan Komisaris.                  bentuk self-assessment berdasarkan pencapaian target key
                                                                                   performance indicator (KPI).
        The Board of Commissioners has a self-assessment policy         Comply     Performance assessment of the Company’s Board of
        to assess the performance of the Board of Commissioners.                   Commissioners is conducted in the form of a self-assessment
                                                                                   based on the achievements of key performance indicator
                                                                                   (KPI) targets.
      b. Kebijakan penilaian sendiri (self-assessment) untuk menilai   Terpenuhi   Pelaksanaan penilaian kinerja Dewan Komisaris Perseroan
         kinerja Dewan Komisaris, diungkapkan melalui Laporan                      diungkapkan dalam Laporan Tahunan ini.
         Tahunan Perusahaan Terbuka.
        The self-assessment policy to assess the performance of         Comply     Implementation of performance assessment of the Company’s
        the Board of Commissioners is disclosed in the Annual                      Board of Commissioners is disclosed in this Annual Report.
        Report of the Public Company.
      c. Dewan Komisaris mempunyai kebijakan terkait                   Terpenuhi   Perseroan memiliki pedoman bagi Dewan Komisaris dan Direksi
         pengunduran diri anggota Dewan Komisaris apabila                          (Board Manual) yang sesuai dengan Anggaran Dasar, peraturan
         terlibat dalam kejahatan keuangan.                                        perundang-undangan, dan peraturan pasar modal. Pedoman
                                                                                   tersebut antara lain memuat kebijakan terkait pengangkatan
                                                                                   dan pemberhentian Dewan Komisaris dan Direksi.
        The Board of Commissioners has a policy regarding the           Comply     The Company has guidelines for the Board of Commissioners
        resignation of Board of Commissioners member if they                       and Board of Directors (Board Manual) that is in line with
        are involved in financial crime.                                           the Articles of Association, laws and regulations, and capital
                                                                                   market regulation. The guidelines include, among others,
                                                                                   policies related to the appointment and dismissal of the
                                                                                   Board of Commissioners and Board of Directors.
      d. Dewan Komisaris atau komite yang menjalankan fungsi           Terpenuhi   Komite Nominasi dan Remunerasi telah menyusun
         Nominasi dan Remunerasi menyusun kebijakan suksesi                        kebijakan suksesi dalam proses nominasi anggota Direksi.
         dalam proses nominasi anggota Direksi.
        The Board of Commissioners, or the Committee that               Comply     The Nomination and Remuneration Committee has
        carries out the Nomination and Remuneration function,                      formulated a succession policy in the nomination process
        formulates a succession policy in the nomination process                   for members of the Board of Directors.
        for members of the Board of Directors.




                                                                                                       Laporan Tahunan 2023
                                                                                                          2023 Annual Report             193
Page 196
05             TATA KELOLA PERUSAHAAN
               Corporate Governance




                   Aspek/Prinsip/Rekomendasi                                                               Keterangan
No.                                                                      Status
                Aspect/Principle/Recommendation                                                            Description

       Fungsi dan Peran Direksi
III.
       Functions and Roles of the Board of Directors

       Memperkuat Keanggotaan dan Komposisi Direksi.
5.
       To Strengthen the Membership and Composition of the Board of Directors.

       a. Penentuan jumlah anggota Direksi mempertimbangkan             Terpenuhi   Penentuan jumlah anggota Direksi telah mempertimbangkan
          kondisi Perusahaan Terbuka, serta efektivitas dalam                       kondisi terkini Perseroan.
          pengambilan keputusan.
         Determination of the number of the Board of Directors           Comply     Determination on the number of the Board of Directors’
         members considers the condition of the Public Company                      members has consider the current condition of the
         and the effectiveness in decision making.                                  Company.

       b. Penentuan komposisi anggota Direksi memperhatikan,            Terpenuhi   Komposisi Direksi Perseroan sesuai dengan ketentuan yang
          keberagaman keahlian, pengetahuan, dan pengalaman                         mengatur tentang keahlian, pengetahuan, dan pengalaman
          yang dibutuhkan.                                                          serta sesuai dengan bidang usaha Perseroan.
         Determination on the composition of the Board of                Comply     The composition of the Company’s Board of Directors is
         Directors members considers the diversity of expertise,                    aligned with the provisions on the expertise, knowledge, and
         knowledge, and experience required.                                        experience and in line with the Company’s business line.

       c. Anggota Direksi yang membawahi bidang akuntansi atau          Terpenuhi   Pihak yang ditunjuk sebagai Direktur Keuangan Perseroan
          keuangan memiliki keahlian dan/atau pengetahuan di                        merupakan lulusan Sarjana Ekonomi jurusan Akuntansi
          bidang akuntansi.                                                         serta memiliki banyak pengalaman di bidang akuntansi/
                                                                                    keuangan di berbagai perusahaan.
         Board of Directors member responsible for accounting            Comply     The party appointed as the Company’s Finance Director is a
         or finance has accounting expertise and/or knowledge.                      Bachelor of Economics majoring in Accounting graduate with a
                                                                                    lot of experience in accounting/finance in various companies.

       Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi.
6.
       To Improve the Implementation Quality of the Board of Directors’ Duties and Responsibilities.

       a. Direksi mempunyai kebijakan penilaian              sendiri    Terpenuhi   Penilaian kinerja Direksi Perseroan dilakukan dalam
          (self-assessment) untuk menilai kinerja Direksi.                          bentuk self-assessment berdasarkan pencapaian target key
                                                                                    performance indicator (KPI).
         The Board of Directors has a self-assessment policy to          Comply     Performance assessment of the Company’s Board of Directors
         assess the performance of the Board of Directors.                          is conducted in the form of self-assessment based on the
                                                                                    achievements of key performance indicator (KPI) targets.

       b. Kebijakan penilaian sendiri (self-assessment) untuk menilai   Terpenuhi   Pelaksanaan penilaian kinerja Direksi Perseroan diungkapkan
          kinerja Direksi diungkapkan melalui Laporan Tahunan                       dalam Laporan Tahunan ini.
          Perusahaan Terbuka.
         The self-assessment policy to assess the performance of         Comply     Implementation of performance assessment of the Company’s
         the Board of Directors is disclosed in the Annual Report of                Board of Directors is disclosed in this Annual Report.
         the Public Company.

       c. Direksi mempunyai kebijakan terkait pengunduran diri          Terpenuhi   Perseroan memiliki pedoman bagi Dewan Komisaris dan Direksi
          anggota Direksi apabila terlibat dalam kejahatan keuangan.                (Board Manual) yang sesuai dengan Anggaran Dasar, peraturan
                                                                                    perundang-undangan, dan peraturan pasar modal. Pedoman
                                                                                    tersebut antara lain memuat kebijakan terkait pengangkatan
                                                                                    dan pemberhentian Dewan Komisaris dan Direksi.
         The Board of Directors has a policy regarding the               Comply     The Company has guidelines for the Board of Commissioners
         resignation of Board of Directors member if they are                       and Board of Directors (Board Manual) that is in line with
         involved in financial crime.                                               the Articles of Association, laws and regulations, and capital
                                                                                    market regulation. The guidelines include, among others,
                                                                                    policies related to the appointment and dismissal of the
                                                                                    Board of Commissioners and Board of Directors.




                Laporan Tahunan 2023
  194           2023 Annual Report
Page 197
                                                                                             PT SINAR MAS MULTIARTHA TBK




                  Aspek/Prinsip/Rekomendasi                                                                Keterangan
No.                                                                      Status
               Aspect/Principle/Recommendation                                                             Description

      Partisipasi Pemangku Kepentingan
IV.
      Stakeholders Participation
      Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.
7.
      To Improve the Corporate Governance Aspect through Stakeholders Participation.
      a. Perusahaan Terbuka memiliki kebijakan untuk mencegah           Terpenuhi   Perseroan telah memiliki Kode Etik dan Pedoman Tingkah
         terjadinya insider trading.                                                Laku bagi seluruh insan Perseroan untuk mencegah
                                                                                    terjadinya insider trading.
        Public Company has a policy to prevent insider trading.          Comply     The Company has Code of Ethics and Code of Conduct for
                                                                                    all personnel of the Company to prevent the occurrence of
                                                                                    insider trading.
      b. Perusahaan Terbuka memiliki kebijakan anti-korupsi dan         Terpenuhi   Perseroan telah memiliki kebijakan anti korupsi dan anti-fraud
         anti-fraud.                                                                yang tercantum dalam Kode Etik dan Pedoman Tingkah Laku.
        Public Company has anti-corruption and anti-fraud                Comply     The Company has anti-corruption and anti-fraud policies in
        policies.                                                                   the Code of Ethics and Code of Conduct.
      c. Perusahaan Terbuka memiliki kebijakan tentang seleksi          Terpenuhi   Perseroan telah memiliki kebijakan terkait seleksi dan
         dan peningkatan kemampuan pemasok atau vendor.                             evaluasi kemampuan pemasok atau vendor.
        Public Company has a policy on the selection and                 Comply     The Company has a policy related to the selection and
        capacity building of suppliers or vendors.                                  evaluation of the capabilities of suppliers or vendors.
      d. Perusahaan Terbuka memiliki kebijakan tentang pemenuhan        Terpenuhi   Perseroan senantiasa memenuhi kebijakan dan perjanjian
         hak-hak kreditur.                                                          yang disepakati dengan kreditur secara tepat waktu.
        Public Company has a policy on the fulfillment of creditor’s     Comply     The Company consistently fulfilled the agreed policy and
        rights.                                                                     agreement with the creditors in a timely manner.
      e. Perusahaan Terbuka memiliki kebijakan sistem whistleblowing.   Terpenuhi   Perseroan telah memiliki kebijakan sistem whistleblowing
                                                                                    sebagai rangkaian kebijakan dan prosedur anti-fraud.
        Public Company has a whistleblowing system policy.               Comply     The Company has a whistleblowing system policy as part of
                                                                                    its anti-fraud policy and procedure.
      f. Perusahaan Terbuka memiliki kebijakan pemberian                Terpenuhi   Perseroan telah menerapkan imbalan kerja jangka panjang
         insentif jangka panjang kepada Direksi dan karyawan.                       bagi Direksi dan karyawan.
        Public Company has a policy on the provision of long-            Comply     The Company has implemented a long-term employee
        term incentive to the Board of Directors and employees.                     benefit for the Board of Directors and employees.
      Keterbukaan Informasi
V.
      Information Transparency
      Meningkatkan Pelaksanaan Keterbukaan Informasi.
8.
      To Improve the Implementation of Information Transparency.
      a. Perusahaan Terbuka memanfaatkan penggunaan teknologi           Terpenuhi   Perseroan, melalui Entitas Anak, memanfaatkan media sosial
         informasi secara lebih luas selain situs web sebagai media                 seperti Facebook, Twitter, dan Instagram untuk menyampaikan
         keterbukaan informasi.                                                     informasi, termasuk mengenai produk dan jasa.
        Public Company utilizes information technology widely in         Comply     The Company, through its Subsidiaries, utilizes social
        addition to website as an information transparency medium.                  media such as Facebook, Twitter, and Instagram to deliver
                                                                                    information, including its products and services.
      b. Laporan Tahunan Perusahaan Terbuka mengungkapkan               Terpenuhi   Laporan Tahunan ini telah memuat seluruh pemilik manfaat
         pemilik manfaat akhir kepemilikan saham Perusahaan                         akhir kepemilikan saham Perseroan.
         Terbuka paling sedikit 5%, selain pengungkapan pemilik
         manfaat akhir kepemilikan saham Perusahaan Terbuka
         melalui Pemegang Saham Utama dan Pengendali.
        The Public Company Annual Report discloses the ultimate          Comply     This Annual Report has listed all of the ultimate beneficial
        beneficial owner in the Public Company share ownership                      owners in the Company share ownership.
        of at least 5%, in addition to the disclosure of the ultimate
        beneficial owner in the Public Company share ownership
        through the Main and Controlling Shareholders.




                                                                                                        Laporan Tahunan 2023
                                                                                                           2023 Annual Report            195
Page 198
05                  TATA KELOLA PERUSAHAAN
                    Corporate Governance




Rapat Umum Pemegang Saham
General Meeting of Shareholders

Rapat Umum Pemegang Saham (RUPS) bertindak sebagai                           The General Meeting of Shareholders (GMS) serves as
pemegang wewenang tertinggi dalam Perseroan yang tidak                       the holder of highest authority in the Company, which is
dapat diganti ataupun disubstitusi oleh siapa pun. Melalui                   irreplaceable or cannot be substitute by anyone. Through the
RUPS, Pemegang Saham dapat memberikan suaranya terkait                       GMS, Shareholders can cast their votes on strategic decisions
keputusan strategis yang perlu dilaksanakan Perseroan. Seluruh               that the Company needs to implement. All GMS resolutions will
keputusan RUPS akan dijalankan secara operasional oleh                       be implemented operationally by the Board of Directors, under
Direksi, di bawah pengawasan dan arahan Dewan Komisaris.                     the supervision and direction of the Board of Commissioners.
RUPS terdiri dari RUPS Tahunan dan RUPS Luar Biasa.                          The GMS consists of Annual GMS and Extraordinary GMS.



Pelaksanaan RUPS Tahun 2023                                                  Implementation of Annual GMS 2023

Di sepanjang tahun 2023, Perseroan menyelenggarakan                          Throughout 2023, the Company held Annual GMS and 1
RUPS Tahunan dan 1 kali RUPS Luar Biasa pada 27 Juni 2023.                   Extraordinary GMS on 27 June 2023. Both GMS were held
Kedua RUPS dilaksanakan di Sinar Mas Land Plaza Tower II                     at Sinar Mas Land Plaza Tower II 39th Floor, Jl. MH Thamrin
Lantai 39, Jl. MH Thamrin No. 51, Jakarta Pusat. RUPS Tahunan                No. 51, Central Jakarta. The Annual GMS and Extraordinary
dan RUPS Luar Biasa dihadiri oleh jajaran pengurus dan pihak                 GMS were attended by the management and independent
independen sebagai berikut.                                                  parties as follows.


     Jajaran Pengurus                     Dewan Komisaris / Board of Commissioners
     Company’s Management                 Komisaris / Commissioner                                    : Fuganto Widjaja*)
                                          Komisaris Independen / Independent Commissioner             : Robinson Simbolon
                                          Komisaris Independen / Independent Commissioner             : Ketut Sanjaya

                                          Direksi / Board of Directors
                                          Direktur Utama / President Director                         : Burhanuddin Abdullah
                                          Direktur / Director                                         : Agus Leman Gunawan
                                          Direktur / Director                                         : Dani Lihardja
                                          Direktur / Director                                         : Ferita
                                          Direktur / Director                                         : Felix
                                          Direktur / Director                                         : Lili Wijata

     Pihak Independen                     Notaris / Notary                                            : Aulia Taufani, SH
     Independent Party                    Biro Administrasi Efek / Securities Administration Bureau   : PT Sinartama Gunita

*)
     Hadir melalui Zoom Meeting. / Attend via Zoom Meeting.



RUPS Tahunan                                                                 Annual GMS
RUPS Tahunan 2023 dihadiri oleh Pemegang Saham yang                          The Annual GMS 2023 was attended by Shareholders
mewakili 4.954.599.984 saham atau 77,81% dari total                          representing 4,954,599,984 shares or 77.81% of the total of
6.367.664.717 saham. Adapun agenda dan keputusan dalam                       6,367,664,717 shares. The meeting agenda and resolutions
rapat tersebut diuraikan sebagai berikut.                                    are described as follows.


                                                                   Mata Acara 1
                                                                    Agenda 1
     Persetujuan Laporan Tahunan dan Laporan Keberlanjutan (Laporan Gabungan) Perseroan, termasuk Laporan Tugas Pengawasan
     Dewan Komisaris serta pengesahan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember
     2022, sekaligus memberikan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de charge) kepada anggota Dewan
     Komisaris dan Direksi Perseroan atas tindakan pengawasan dan pengurusan Perseroan yang telah dijalankan selama tahun buku
     2022, sepanjang tercermin dari Laporan Tahunan dan tercatat pada Laporan Keuangan Perseroan dan bukan merupakan tindak
     pidana atau pelanggaran terhadap ketentuan peraturan perundang-undangan yang berlaku.
     Approval of the Company’s Annual Report and Sustainability Report (Joint Report), including the Supervisory Report of the Board
     of Commissioners, and validate the Company’s Financial Report for the financial year ending 31 December 2022, as well as to give
     a full release of responsibility (volledig acquit et de charge) to members of the Board of Commissioners and Board of Directors of the
     Company on their supervisory and management actions of the Company that have been conducted throughout the 2022 financial
     year, provided that such actions are reflected in the Company’s Annual Report and recorded in the Financial Report and that such
     actions are not criminal act or violations of the prevailing laws and regulations.




                    Laporan Tahunan 2023
      196           2023 Annual Report
Page 199
                                                                                      PT SINAR MAS MULTIARTHA TBK




                                                           Mata Acara 1
                                                            Agenda 1

Keputusan      Menyetujui Laporan Tahunan tahun 2022 Perseroan, termasuk Laporan Tugas Pengawasan Dewan Komisaris serta
Resolution     pengesahan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2022, sekaligus
               memberikan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de charge) kepada anggota Dewan Komisaris
               dan Direksi Perseroan atas tindakan pengawasan dan pengurusan Perseroan yang telah dijalankan selama tahun buku
               2022, sepanjang tercermin dari Laporan Tahunan dan tercatat pada Laporan Keuangan Perseroan dan bukan merupakan
               tindak pidana atau pelanggaran terhadap ketentuan peraturan perundang-undangan yang berlaku.
               Approved the Company’s 2022 Annual Report, including the Supervisory Report of the Board of Commissioners and
               validated the Company’s Financial Report for the financial year ending 31 December 2022, as well as to give a full release
               of responsibility (volledig acquit et de charge) to members of the Board of Commissioners and Board of Directors of the
               Company on their supervisory and management actions of the Company that have been conducted throughout the 2022
               financial year, provided that such actions are reflected in the Company’s Annual Report and recorded in the Financial
               Report and that such actions are not criminal act or violations of the prevailing laws and regulations.
Realisasi      Telah direalisasikan sepenuhnya.
Realization    Fully implemented.




                                                           Mata Acara 2
                                                            Agenda 2

Persetujuan penggunaan laba bersih Perseroan untuk tahun buku yang berakhir 31 Desember 2022.
Approval of the use of the Company’s net profit for the financial year ending 31 December 2022.
               1. Tidak dibagikan dividen kepada para Pemegang Saham dan laba yang tidak dibagikan sebagai dividen tersebut
                  dimasukkan ke dalam retained earning dan digunakan sebagai modal kerja Perseroan serta setoran modal/investasi
                  pada Entitas Anak dan asosiasi, baik pada Entitas Anak baru maupun yang sudah ada; serta
               2. Memberikan wewenang kepada Direksi Perseroan untuk mengatur, melaksanakan, dan menjalankan tindakan-tindakan
                  yang diperlukan sehubungan dengan penggunaan saldo laba Perseroan tersebut di atas sesuai dengan ketentuan
Keputusan         hukum dan peraturan yang berlaku.
Resolution
               1. No dividend is distributed to the Shareholders, and the profit not distributed as a dividend will be booked as retained
                  earnings and used as the Company’s working capital and paid-in capital/investment to its Subsidiaries and associated
                  companies, both in the new or existing Subsidiaries; and
               2. Authorizing the Company’s Board of Directors to coordinate, perform, and carry out the necessary course of actions with
                  regards to the use of the Company’s retained earnings in accordance with the prevailing law and regulations.
Realisasi      Telah direalisasikan sepenuhnya.
Realization    Fully implemented.




                                                                                                Laporan Tahunan 2023
                                                                                                   2023 Annual Report            197
Page 200
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




                                                            Mata Acara 3
                                                             Agenda 3

Persetujuan atas remunerasi Dewan Komisaris dan Direksi Perseroan untuk periode Januari sampai dengan Desember 2023.
Approval of the remuneration of the Company’s Board of Commissioners and Board of Directors for the period of January to
December 2023.
Keputusan       1. Menetapkan remunerasi Dewan Komisaris dan melimpahkan wewenang kepada Komite Nominasi dan Remunerasi
Resolution         untuk menetapkan besarannya masing-masing di antara anggota Dewan Komisaris; serta
                2. Menyetujui pemberian kuasa dan wewenang kepada Komite Nominasi dan Remunerasi untuk menentukan pembagian
                   tugas dan wewenang kepada masing-masing Direksi dan untuk menentukan remunerasi bagi anggota Direksi Perseroan.
                1. Determine the remuneration of the Board of Commissioners and delegate the authority to the Nomination and
                   Remuneration Committee to decide the amount for each member of the Board of Commissioners; and
                2. Approved the granting of power and authority to the Company’s Nomination and Remuneration Committee to assign
                   the Board of Directors’ duties and authorities and to decide the remuneration of the Company’s Board of Directors
                   members.
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




                                                            Mata Acara 4
                                                             Agenda 4

Penunjukan akuntan publik pada Kantor Akuntan Publik Mirawati Sensi Idris untuk melakukan audit Laporan Keuangan Perseroan
untuk tahun buku 2023 dan memberi wewenang kepada Direksi untuk menetapkan honorarium akuntan publik pada kantor
akuntan publik tersebut serta persyaratan lain penunjukannya serta persetujuan memberikan delegasi kepada Dewan Komisaris
Perseroan untuk menunjuk kantor akuntan publik lain yang terdaftar di Otoritas Jasa Keuangan berdasarkan rekomendasi Komite
Audit, apabila karena satu dan lain hal kantor akuntan publik di atas tidak dapat melaksanakan tugasnya.
Appointment of a public accountant at Public Accountant Office Mirawati Sensi Idris to audit the Company’s Financial Report for
the 2023 financial year and to authorize the Board of Directors to decide the honorarium for the public accountant at the said
public accountant office and other requirements related to such appointment as well as approval to delegate the Company’s
Board of Commissioners to appoint other public accountant office registered in the Financial Services Authority based on the Audit
Committee recommendation, in case the first appointed public accountant office is unable to carry out its duties.
Keputusan       1. Menyetujui penunjukan akuntan publik pada Kantor Akuntan Publik Mirawati Sensi Idris untuk melakukan audit Laporan
Resolution         Keuangan Perseroan untuk tahun buku 2023 dan memberi wewenang kepada Direksi untuk menetapkan honorarium
                   akuntan publik pada kantor akuntan publik tersebut serta persyaratan lain penunjukannya serta persetujuan
                   memberikan delegasi kepada Dewan Komisaris Perseroan untuk menunjuk kantor akuntan publik lain yang terdaftar di
                   Otoritas Jasa Keuangan berdasarkan rekomendasi Komite Audit, apabila karena satu dan lain hal kantor akuntan publik
                   yang ditunjuk tidak dapat melaksanakan tugasnya; serta
                2. Memberikan wewenang dan kuasa kepada Dewan Komisaris untuk menunjuk akuntan publik pengganti maupun
                   memberhentikan akuntan publik yang telah ditunjuk, bilamana karena sebab apapun juga berdasarkan ketentuan pasar
                   modal di Indonesia, akuntan publik yang telah ditunjuk tersebut tidak dapat melakukan/menyelesaikan tugasnya.
                1. Approved the appointment of a public accountant at Public Accountant Office Mirawati Sensi Idris to audit the Company’s
                   Financial Report for the 2023 financial year and to authorize the Board of Directors to decide the honorarium for the
                   public accountant at the said public accountant office and other requirements for the appointment as well as approval
                   to delegate the Company’s Board of Commissioners to appoint other public accountant office registered in the Financial
                   Services Authority based on the Audit Committee recommendation, in case the first appointed public accountant office
                   is unable to carry out its duties; and
                2. Granted authority and power to the Board of Commissioners to appoint a replacement public accountant or to dismiss
                   the appointed public accountant, if for any reason based on capital market regulations in Indonesia, the appointed
                   public accountant is unable carry out/complete the duty.
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




              Laporan Tahunan 2023
 198          2023 Annual Report
Page 201
                                                                                         PT SINAR MAS MULTIARTHA TBK




RUPS Luar Biasa                                                         Extraordinary GMS
RUPS Luar Biasa 2023 dihadiri oleh Pemegang Saham yang                  The Extraordinary GMS 2023 was attended by Shareholders
mewakili 4.954.532.767 saham atau 77,81% dari total                     representing 4,954,532,767 shares or 77.81% of the total of
6.367.664.717 saham. Adapun agenda dan keputusan dalam                  6,367,664,717 shares. The meeting agenda and resolutions
rapat tersebut, sebagai berikut.                                        are described as follows.


                                                             Mata Acara 1
                                                              Agenda 1

 Persetujuan perubahan beberapa pasal Anggaran Dasar Perseroan.
 Approval of amendments to several articles in the Company’s Articles of Association.
 Keputusan      Menyetujui perubahan beberapa pasal Anggaran Dasar Perseroan sebagai berikut.
 Resolution     1. Perubahan Pasal 9         : tentang Rapat Umum Pemegang Saham;
                2. Perubahan Pasal 10        : tentang Tempat, Pemberitahuan, Pengumuman, Pemanggilan, dan Pimpinan RUPS;
                3. Perubahan Pasal 11        : tentang Tata Tertib, Kuorum, Hak Suara, dan Keputusan RUPS; serta
                4. Perubahan Pasal 22        : tentang Penggunaan Laba dan Pembagian Dividen.
                Approved the amendments of several articles in the Company’s Articles of Association as follows.
                1. Amendment to Article 9    : on General Meeting of Shareholders;
                2. Amendment to Article 10   : on Venue, Notification, Announcement, Summon, and Chairman of GMS;
                3. Amendment to Article 11   : on Rules, Quorum, Voting Rights, and GMS Resolutions; and
                4. Amendment to Article 22   : on the use of Profits and Dividend Distribution.
 Realisasi      Telah direalisasikan sepenuhnya.
 Realization    Fully implemented.




                                                             Mata Acara 2
                                                              Agenda 2

 Persetujuan perubahan susunan Direksi dan Dewan Komisaris Perseroan.
 Approval of changes to the composition of the Company’s Board of Directors and Board of Commissioners.
 Keputusan      1. Menyetujui pengunduran diri Indra Widjaja selaku Komisaris Utama Perseroan serta Dani Lihardja selaku Direktur
 Resolution        Perseroan dan demikian dengan mengucapkan terima kasih atas segala jasa-jasa yang telah diberikan selama ini
                   kepada Perseroan, dan selanjutnya memberikan pembebasan dan pelunasan sepenuhnya (volledig acquit et de charge)
                   atas tindakan pengurusan dan pengawasan sesuai dengan jabatannya yang dilakukan selama ini, sepanjang tindakan
                   tersebut tercermin dalam buku-buku Perseroan; serta
                2. Menyetujui mengangkat Fuganto Widjaja selaku Komisaris Utama Perseroan menggantikan Indra Widjaja tersebut,
                   dan mengangkat Dani Lihardja selaku Komisaris Perseroan yang sebelumnya selaku Direktur Perseroan menggantikan
                   Fuganto Widjaja tersebut.
                1. Approved the resignation of Indra Widjaja as the Company’s President Commissioner and Dani Lihardja as the Company’s
                   Director and to wish them thank you for the services given to the Company, and further to give full release and settlement
                   (volledig acquit et de charge) for the management and supervisory actions in accordance with their positions, provided
                   that such actions are reflected in the Company’s books; and
                2. Approved the appointment of Fuganto Widjaja as the Company’s President Commissioner to replace Indra Widjaja,
                   and the appointment of Dani Lihardja as the Company’s New Commissioner, previously the Company’s Director, to
                   replace Fuganto Widjaja.

                Sehingga untuk selanjutnya terhitung sejak ditutupnya rapat, susunan Direksi dan Dewan Komisaris Perseroan menjadi
                sebagai berikut.
                Thus, since the closing of the meeting, the composition of the Company’s Board of Directors and Board of Commissioners
                are as follows.

                Dewan Komisaris / Board of Commissioners
                Komisaris Utama / President Commissioner         : Fuganto Widjaja
                Komisaris / Commissioner                         : Howen Widjaja
                Komisaris / Commissioner                         : Dani Lihardja
                Komisaris Independen / Independent Commissioner : Robinson Simbolon
                Komisaris Independen / Independent Commissioner: Ketut Sanjaya

                Direksi / Board of Director
                Direktur Utama / President Director                    : Burhanuddin Abdullah
                Direktur / Director                                    : Agus Leman Gunawan
                Direktur / Director                                    : Felix
                Direktur / Director                                    : Ferita
                Direktur / Director                                    : Lili Wijata




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report             199
Page 202
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




                                                             Mata Acara 2
                                                              Agenda 2

Keputusan       Menyetujui memberikan kuasa dan wewenang kepada Direksi Perseroan, baik sendiri maupun bersama-sama dengan
Resolution      hak substitusi, untuk melaksanakan keputusan-keputusan dalam rapat, termasuk tetapi tidak terbatas pada menyatakan
                kembali keputusan tersebut dalam akta notaris, membuat atau meminta dibuatkan segala akta-akta, surat-surat maupun
                dokumen-dokumen yang diperlukan, hadir di hadapan pihak pejabat yang berwenang untuk memberitahukan hal tersebut
                kepada instansi pemerintah terkait, termasuk tetapi tidak terbatas pada Menteri Hukum dan Hak Asasi Manusia Republik
                Indonesia, serta melakukan pendaftaran maupun pengumuman berdasarkan peraturan perundang-undangan yang
                berlaku, satu dan lain hal tanpa ada yang dikecualikan.
                Approved the granting of power and authority to the Company’s Board of Directors, both individually or collectively with
                substitution right, to execute any meeting resolutions, including but not limited to restating the resolutions in a notarial
                deed, to make or order any necessary deeds, letters, or documents to be made, to be present before the authorized
                officials to inform such matters to the related government institutions, including but not limited to the Minister of Law and
                Human Rights of the Republic of Indonesia, as well as to do registration or an announcement based on the prevailing laws
                and regulation, one or the other without any exception.
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




                                                             Mata Acara 3
                                                              Agenda 3

Laporan perubahan Komite Audit Perseroan.
Changes Report of the Company’s Audit Committee.
Keputusan       Sehubungan dengan telah meninggal dunianya Rahmat Waluyanto pada tanggal 10 April 2023 yang sebelumnya adalah
Resolution      anggota Komite Audit Perseroan dan pengangkatan Nurhaida selaku anggota Komite Audit Perseroan yang baru.
                Selanjutnya susunan Komite Audit Perseroan yang baru sebagai berikut.
                In relation with the passing of Rahmat Waluyanto on 10 April 2023, previously the Company’s Audit Committee Member and
                appointment of Nurhaida as the new Company’s Audit Committee Member. Thus, the new composition of the Company’s
                Audit Committee are as follows.

                Ketua Komite Audit / Audit Committee Chairman          : Robinson Simbolon
                Anggota Komite Audit / Audit Committee Member          : Halim Alamsyah
                Anggota Komite Audit / Audit Committee Member          : Nurhaida
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




Ringkasan Keputusan dan                                                 Summary of Resolutions and
Pelaksanaan Keputusan RUPS                                              Implementation of GMS Resolutions
Sepanjang Tahun Buku 2022                                               Throughout 2022 Financial Year

RUPS Tahunan 14 Juni 2022                                               Annual GMS 14 June 2022


                                                             Mata Acara 1
                                                              Agenda 1

Keputusan       Menyetujui Laporan Tahunan tahun 2021 Perseroan, termasuk Laporan Tugas Pengawasan Dewan Komisaris serta
Resolution      pengesahan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2021, sekaligus
                memberikan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de charge) kepada anggota Dewan Komisaris
                dan Direksi Perseroan atas tindakan pengawasan dan pengurusan Perseroan yang telah dijalankan selama tahun buku
                2021, sepanjang tercermin dari Laporan Tahunan dan tercatat pada Laporan Keuangan Perseroan dan bukan merupakan
                tindak pidana atau pelanggaran terhadap ketentuan peraturan perundang-undangan yang berlaku.
                Approved the Company’s 2021 Annual Report, including the Supervisory Report of the Board of Commissioners and
                validated the Company’s Financial Report for the financial year ending 31 December 2021, as well as to give a full release
                of responsibility (volledig acquit et de charge) to members of the Board of Commissioners and Board of Directors of the
                Company on their supervisory and management actions of the Company that have been conducted throughout the 2021
                financial year, provided that such actions are reflected in the Company’s Annual Report and recorded in the Financial
                Report and that such actions are not criminal act or violations of the prevailing laws and regulations.
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




              Laporan Tahunan 2023
 200          2023 Annual Report
Page 203
                                                                                     PT SINAR MAS MULTIARTHA TBK




                                                          Mata Acara 2
                                                           Agenda 2

Keputusan     1. Tidak dibagikan dividen kepada para Pemegang Saham dan laba yang tidak dibagikan sebagai dividen tersebut
Resolution       dimasukkan ke dalam retained earning dan digunakan sebagai modal kerja Perseroan serta setoran modal/investasi
                 pada Entitas Anak dan asosiasi, baik pada Entitas Anak baru maupun yang sudah ada; serta
              2. Memberikan wewenang kepada Direksi Perseroan untuk mengatur, melaksanakan, dan menjalankan tindakan-tindakan
                 yang diperlukan sehubungan dengan penggunaan saldo laba Perseroan tersebut di atas sesuai dengan ketentuan hukum
                 dan peraturan yang berlaku.
              1. No dividend is distributed to the Shareholders, and the profit not distributed as a dividend will be booked as retained
                 earnings and used as the Company’s working capital and paid-in capital/investment to its Subsidiaries and associated
                 companies, both in the new or existing Subsidiaries; and
              2. Authorizing the Company’s Board of Directors to coordinate, perform, and carry out the necessary course of actions with
                 regards to the use of the Company’s retained earnings in accordance with the prevailing law and regulations.
Realisasi     Telah direalisasikan sepenuhnya.
Realization   Fully implemented.




                                                          Mata Acara 3
                                                           Agenda 3

Keputusan     1. Menyetujui pemberian kuasa dan wewenang kepada Komite Nominasi dan Remunerasi untuk menentukan pembagian
Resolution       tugas dan wewenang kepada masing-masing Direksi dan untuk menentukan remunerasi bagi anggota Direksi Perseroan;
                 serta
              2. Menetapkan remunerasi Dewan Komisaris dan melimpahkan wewenang kepada Komite Nominasi dan Remunerasi
                 untuk menetapkan besarannya masing-masing di antara anggota Dewan Komisaris.
              1. Approved the granting of power and authority to the Company’s Nomination and Remuneration Committee to assign
                 the Board of Directors’ duties and authorities and to decide the remuneration of the Company’s Board of Directors
                 members; and
              2. Determine the remuneration of the Board of Commissioners and delegate the authority to the Nomination and
                 Remuneration Committee to decide the amount for each member of the Board of Commissioners.
Realisasi     Telah direalisasikan sepenuhnya.
Realization   Fully implemented.




                                                          Mata Acara 4
                                                           Agenda 4

Keputusan     Menyetujui penunjukan akuntan publik pada Kantor Akuntan Publik Mirawati Sensi Idris untuk melakukan audit Laporan
Resolution    Keuangan Perseroan untuk tahun buku 2022 dan memberi wewenang kepada Direksi untuk menetapkan honorarium
              akuntan publik pada kantor akuntan publik tersebut serta persyaratan lain penunjukannya serta persetujuan memberikan
              delegasi kepada Dewan Komisaris Perseroan untuk menunjuk kantor akuntan publik lain yang terdaftar di Otoritas Jasa
              Keuangan berdasarkan rekomendasi Komite Audit, apabila karena satu dan lain hal kantor akuntan publik yang ditunjuk
              tidak dapat melaksanakan tugasnya.
              Approved the appointment of a public accountant at Public Accountant Office Mirawati Sensi Idris to audit the Company’s
              Financial Report for the 2022 financial year and to authorize the Board of Directors to decide the honorarium for the
              public accountant at the said public accountant office and other requirements for the appointment as well as approval
              to delegate the Company’s Board of Commissioners to appoint other public accountant office registered in the Financial
              Services Authority based on the Audit Committee recommendation, in case the first appointed public accountant office is
              unable to carry out its duties.
Realisasi     Telah direalisasikan sepenuhnya.
Realization   Fully implemented.




                                                          Mata Acara 5
                                                           Agenda 5

Keputusan     Menyetujui Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum Obligasi Berkelanjutan II Sinar Mas Multiartha
Resolution    Tahap I Tahun 2021.
              Approved the Realization Report on the Proceed Utilization from the Public Offering of Sinar Mas Multiartha Sustainable
              Bond II Phase I Year 2021.
Realisasi     Telah direalisasikan sepenuhnya.
Realization   Fully implemented.




                                                                                               Laporan Tahunan 2023
                                                                                                  2023 Annual Report            201
Page 204
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




RUPS Luar Biasa 14 Juni 2022                                              Extraordinary GMS 14 June 2022


                                                              Mata Acara 1
                                                               Agenda 1

Keputusan       1. Menyetujui pengunduran diri Halim Alamsyah selaku Komisaris Independen Perseroan dan demikian dengan
Resolution         mengucapkan terima kasih atas segala jasa-jasa yang telah diberikan selama ini kepada Perseroan, dan selanjutnya
                   memberikan pembebasan dan pelunasan sepenuhnya (volledig acquit et de charge) atas tindakan pengurusan dan
                   pengawasan sesuai dengan jabatannya yang dilakukan selama ini, sepanjang tindakan tersebut tercermin dalam buku-
                   buku Perseroan;
                2. a. Menyetujui mengangkat Ketut Sanjaya selaku Komisaris Independen Perseroan menggantikan Halim Alamsyah;
                   b. Menyetujui mengangkat Lili Wijata selaku Direktur Perseroan yang baru;
                1. Approved the resignation of Halim Alamsyah as the Company’s Independent Commissioner and to wish him thank you
                   for the services given to the Company, and further to give full release and settlement (volledig acquit et de charge) for the
                   management and supervisory actions in accordance with his position, provided that such actions are reflected in the
                   Company’s books;
                2. a. Approved the appointment of Ketut Sanjaya as the Company’s Independent Commissioner to replace Halim Alamsyah;
                   b. Approved the appointment of Lili Wijata as the Company’s new Director;

                Sehingga untuk selanjutnya terhitung sejak ditutupnya rapat susunan Direksi dan Dewan Komisaris Perseroan menjadi
                sebagai berikut.
                Thus, since the closing of the meeting, the composition of the Company’s Board of Commissioners and Board of Directors
                are as follows.

                Dewan Komisaris / Board of Commissioners
                Komisaris Utama / President Commissioner                 : Indra Widjaja
                Komisaris / Commissioner                                 : Howen Widjaja
                Komisaris / Commissioner                                 : Fuganto Widjaja
                Komisaris Independen / Independent Commissioner          : Robinson Simbolon
                Komisaris Independen / Independent Commissioner          : Ketut Sanjaya

                Direksi / Board of Director
                Direktur Utama / President Director                      : Burhanuddin Abdullah
                Direktur / Director                                      : Agus Leman Gunawan
                Direktur / Director                                      : Dani Lihardja
                Direktur / Director                                      : Felix
                Direktur / Director                                      : Ferita
                Direktur / Director                                      : Lili Wijata

                3. Menyetujui memberikan kuasa dan wewenang kepada Direksi Perseroan, baik sendiri maupun bersama-sama dengan
                   hak substitusi, untuk melaksanakan keputusan-keputusan dalam rapat, termasuk tetapi tidak terbatas pada menyatakan
                   kembali keputusan tersebut dalam akta notaris, membuat atau meminta dibuatkan segala akta-akta, surat-surat
                   maupun dokumen-dokumen yang diperlukan, hadir di hadapan pihak pejabat yang berwenang untuk memberitahukan
                   hal tersebut kepada instansi pemerintah terkait, termasuk tetapi tidak terbatas pada Menteri Hukum dan Hak Asasi
                   Manusia Republik Indonesia, serta melakukan pendaftaran maupun pengumuman berdasarkan peraturan perundang-
                   undangan yang berlaku, satu dan lain hal tanpa ada yang dikecualikan.
                3. Approved the granting of power and authority to the Company’s Board of Directors, both individually or collectively with
                   substitution right, to execute any meeting resolutions, including but not limited to restating the resolutions in a notarial
                   deed, to make or order any necessary deeds, letters, or documents to be made, to be present before the authorized
                   officials to inform such matters to the related government institutions, including but not limited to the Minister of
                   Law and Human Rights of the Republic of Indonesia, as well as to do registration or an announcement based on the
                   prevailing laws and regulation, one or the other without any exception.
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




                                                              Mata Acara 2
                                                               Agenda 2

Keputusan       Sehubungan dengan pengunduran diri dan pengangkatan Komite Audit Perseroan, dilaporkan kepada para Pemegang
Resolution      Saham perubahan susunan Komite Audit Perseroan yang baru sebagai berikut.
                In relation to the resignation and appointment of the Company’s Audit Committee, the new change to the composition of
                the Company’s Audit Committee is reported to the Shareholders as follows.

                Ketua Komite Audit / Audit Committee Chairman            : Robinson Simbolon
                Anggota Komite Audit / Audit Committee Member            : Halim Alamsyah
                Anggota Komite Audit / Audit Committee Member            : Rahmat Waluyanto
Realisasi       Telah direalisasikan sepenuhnya.
Realization     Fully implemented.




              Laporan Tahunan 2023
  202         2023 Annual Report
Page 205
                                                                              PT SINAR MAS MULTIARTHA TBK




Dewan Komisaris
Board of Commissioners

Dewan Komisaris merupakan organ Perseroan yang                  The Board of Commissioners is the Company Organ
bertanggung jawab dalam melakukan pengawasan terhadap           responsible to supervise the course of operational activities
jalannya kegiatan operasional agar sesuai dengan Anggaran       to ensure compliance with the Company’s Articles of
Dasar Perseroan. Selain itu, Dewan Komisaris turut memberikan   Association. The Board of Commissioners also give advice
nasihat kepada Direksi, termasuk mengawasi dan mengevaluasi     to Board of Directors, including supervising and evaluating
kinerja Direksi.                                                their performance.



Pedoman Kerja                                                   Guidelines

Perseroan telah merumuskan Pedoman Kerja Dewan                  The Company has prepared a Board of Commissioners
Komisaris (Board Manual) berdasarkan prinsip-prinsip            Guidelines (Board Manual), based on the principles of
hukum korporasi, Anggaran Dasar, peraturan perundang-           corporate law, Articles of Association, prevailing laws
undangan yang berlaku, arahan Pemegang Saham, dan               and regulations, Shareholders’ directives, and GCG best
praktik terbaik GCG. Secara umum, Pedoman Kerja Dewan           practices. In general, the Board of Commissioners Manual
Komisaris memuat informasi mengenai tugas, tanggung             contains information about the duties, responsibilities, and
jawab, dan hubungan Dewan Komisaris dengan organ-               relationship between the Board of Commissioners and the
organ Perseroan.                                                Company’s organs.



Tugas dan Tanggung Jawab                                        Duties and Responsibilities

Dewan Komisaris memiliki tugas dan tanggung jawab               The Board of Commissioners has the following duties and
sebagai berikut.                                                responsibilities.
1. Melakukan pengawasan terhadap pengelolaan Perseroan          1. To monitor the Company’s management conducted by the
   yang dilakukan oleh Direksi, serta memberi arahan                Board of Directors and provide directions to the Board of
   kepada Direksi;                                                  Directors;
2. Mengawasi kinerja dan kepatuhan Direksi terhadap             2. To monitor the Board of Directors’ performance and
   peraturan dan perundang-undangan yang berlaku                    compliance with the prevailing laws and regulations
   sesuai prinsip GCG; serta                                        according to GCG principles; and
3. Melakukan evaluasi dan audit terhadap pelaksanaan            3. To evaluate and audit strategic policy implementation.
   kebijaksanaan strategis.


Di samping itu, Dewan Komisaris juga bertugas sebagai           The Board of Commissioners also acts as the implementer
pelaksana tata kelola keberlanjutan, dengan terus memantau      of sustainability governance, by constantly monitoring the
manajemen risiko ekonomi, sosial, dan lingkungan dalam          management of economic, social, and environmental risks
proses pengambilan keputusan strategis dan operasional.         in strategic and operational decision-making.



Komposisi dan Independensi                                      Composition and Independence

Komposisi                                                       Composition
Mengacu pada keputusan RUPS Luar Biasa pada tanggal             Based on the Extraordinary GMS resolutions dated
27 Juni 2023, Perseroan telah menyetujui pengunduran            27 June 2023, the Company has approved the resignation
diri Indra Widjaja selaku Komisaris Utama dan mengangkat        of Indra Widjaja as President Commissioner and appointed
Fuganto Widjaja sebagai penggantinya serta mengangkat           Fuganto Widjaja as his replacement, as well as appointed
Dani Lihardja sebagai Komisaris untuk menggantikan Fuganto      Dani Lihardja as a Commissioner to replace Fuganto Widjaja.
Widjaja. Berdasarkan hal tersebut, komposisi anggota Dewan      Thus, the composition of members of the Company’s
Komisaris Perseroan per 31 Desember 2023 menjadi sebagai        Board of Commissioners as of 31 December 2023 is as
berikut.                                                        follows.




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report        203
Page 206
05               TATA KELOLA PERUSAHAAN
                 Corporate Governance




                    Nama                                   Jabatan                           Pertama Kali Menjabat
                    Name                                   Position                               Starting Year

                                                                                                        2013
                                                                                        (sebagai Komisaris / as Commissioner)
                                                       Komisaris Utama
 Fuganto Widjaja                                                                                        2023
                                                    President Commissioner
                                                                                             (sebagai Komisaris Utama /
                                                                                             as President Commissioner)
                                                           Komisaris
 Howen Widjaja                                                                                          2010
                                                         Commissioner
                                                                                                        2013
                                                           Komisaris                       (sebagai Direktur / as Director)
 Dani Lihardja
                                                         Commissioner                                   2023
                                                                                        (sebagai Komisaris / as Commissioner)
                                                      Komisaris Independen
 Robinson Simbolon                                                                                      2014
                                                   Independent Commissioner
                                                      Komisaris Independen
 Ketut Sanjaya                                                                                          2022
                                                   Independent Commissioner




Independensi                                                     Independence
Perseroan menjamin seluruh anggota Dewan Komisaris               The Company guarantees that all members of the Board
bertindak secara independen, objektif, dan profesional           of Commissioners act independently, objectively, and
dalam menjalankan tugas dan tanggung jawabnya.                   professionally in conducting their duties and responsibilities.



Komisaris Independen                                             Independent Commissioner

Perseroan memiliki Komisaris Independen yang telah               The Company’s Independent Commissioners have met
memenuhi ketentuan Peraturan Otoriotas Jasa Keuangan             provisions of Financial Services Authority Regulation
No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris          No. 33/POJK.04/2014 on the Board of Directors and Board
Emiten atau Perusahaan Publik. Dalam peraturan tersebut,         of Commissioners of Issuers or Public Companies. In the
Komisaris Independen wajib paling sedikit berjumlah 30%          regulation, Independent Commissioner must be at least
dari jumlah anggota Dewan Komisaris. Komposisi Komisaris         30% of total members of Board of Commissioners. The
Independen Perseroan per 31 Desember 2023 berjumlah              composition of the Company’s Independent Commissioners
2 orang. Dengan demikian, komposisi Komisaris Independen         as of 31 December 2023 are 2 people. Thus, the composition
Perseroan lebih dari 30% dari seluruh jumlah Dewan Komisaris.    of the Company’s Independent Commissioners is more
                                                                 than 30% of the total members of Board of Commissioners.


Selain itu, Komisaris Independen Perseroan telah memenuhi        In addition, the Company’s Independent Commissioners
persyaratan berikut.                                             have met the following requirements.
1. Bukan merupakan orang yang bekerja atau mempunyai             1. Not being employed nor having the authority and
    wewenang dan tanggung jawab untuk merencanakan,                 responsibility to plan, lead, control, or supervise the
    memimpin, mengendalikan, atau mengawasi kegiatan                Company’s activities within the last 6 months, except for
    Perseroan dalam waktu 6 bulan terakhir, kecuali untuk           re-appointment as Independent Commissioner in the
    pengangkatan kembali sebagai Komisaris Independen               next period;
    pada periode berikutnya;
2. Tidak mempunyai saham, baik langsung maupun tidak             2. Not possessing any shares in the Company, either
    langsung pada Perseroan;                                        directly or indirectly;
3. Tidak mempunyai hubungan afiliasi dengan Perseroan,           3. Not having affiliation relationship with the Company, either
    baik anggota Dewan Komisaris, anggota Direksi,                  with members of the Board of Commissioners, members
    Pemegang Saham Utama/Saham Mayoritas, atau                      of the Board of Directors, Main/Majority Shareholders, or
    Pemegang Saham Pengendali Perseroan; serta                      Controlling Shareholders of the Company; and
4. Tidak mempunyai hubungan usaha, baik langsung                 4. Not having a business relationship, directly or indirectly,
    maupun tidak langsung, yang berkaitan dengan kegiatan           related to the Company’s business activities.
    usaha Perseroan.




                 Laporan Tahunan 2023
  204            2023 Annual Report
Page 207
                                                                                PT SINAR MAS MULTIARTHA TBK




Hubungan Afiliasi                                                 Affiliation Relationship

Berikut informasi hubungan afiliasi Dewan Komisaris dengan        Following is the information on affiliation relationship of
Direksi dan Pemegang Saham Pengendali Perseroan.                  the Board of Commissioners with the Company’s Board of
                                                                  Directors and Controlling Shareholders.


                                    Hubungan Keuangan dengan                           Hubungan Keluarga dengan
                                    Financial Relationship with                         Family Relationship with

                                                              Pemegang                                           Pemegang
                               Dewan                                             Dewan
   Nama        Jabatan                         Direksi          Saham                             Direksi          Saham
                              Komisaris                                         Komisaris
                                              Board of        Pengendali                         Board of        Pengendali
   Name        Position       Board of                                          Board of
                                              Directors       Controlling                        Directors       Controlling
                            Commissioners                                     Commissioners
                                                             Shareholders                                       Shareholders

                             Ya     Tidak    Ya     Tidak    Ya       Tidak     Ya     Tidak    Ya     Tidak    Ya      Tidak
                             Yes     No      Yes     No      Yes       No       Yes     No      Yes     No      Yes      No

             Komisaris
 Fuganto     Utama
                              √                       √       √                  √                       √       √
 Widjaja     President
             Commissioner

 Howen       Komisaris
                              √                       √       √                  √                       √       √
 Widjaja     Commissioner

 Dani        Komisaris
                                      √               √                 √                √               √                √
 Lihardja    Commissioner

             Komisaris
 Robinson    Independen
                                      √               √                 √                √               √                √
 Simbolon    Independent
             Commissioner

             Komisaris
 Ketut       Independen
                                      √               √                 √                √               √                √
 Sanjaya     Independent
             Commissioner




Rangkap Jabatan                                                   Concurrent Position

Sesuai dengan Peraturan Otoritas Jasa Keuangan                    Financial Services Authority Regulation No. 33/POJK.04/2014
No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris           on the Board of Directors and Board of Commissioners
Emiten atau Perusahaan Publik, anggota Dewan Komisaris            of the Issuer or Public Company, allows the Board of
Perseroan dapat merangkap jabatan dengan ketentuan                Commissioners members to hold a concurrent position
sebagai berikut.                                                  under the following conditions.
1. Anggota Direksi paling banyak pada 2 Emiten atau               1. Member of the Board of Directors at a maximum of 2
   Perusahaan Publik lain;                                            other Issuers or Public Companies;
2. Anggota Dewan Komisaris paling banyak pada 2 Emiten            2. Member of the Board of Commissioners at a maximum
   atau Perusahaan Publik lain;                                       of other Issuers or Public Companies;
3. Jika anggota Dewan Komisaris tidak merangkap jabatan           3. If a member of the Board of Commissioners is not
   sebagai anggota Direksi, maka yang bersangkutan                    holding a concurrent position as a member of Board of
   dapat merangkap jabatan sebagai Dewan Komisaris                    Directors, then the said person may serve as a member
   paling banyak pada 4 Emiten atau Perusahaan Publik                 of the Board of Commissioners at a maximum of 4 other
   lain, sepanjang tidak bertentangan dengan peraturan                Issuers or Public Companies if it is not conflicting with
   perundang-undangan yang berlaku; serta                             the prevailing laws and regulations; and
4. Anggota Dewan Komisaris dapat merangkap sebagai                4. Member of the Board of Commissioners may hold
   anggota komite paling banyak pada 5 komite di Emiten               a concurrent position as a committee member at a
   atau Perusahaan Publik di mana yang bersangkutan juga              maximum of 5 committees at the Issuer or Public
   menjabat sebagai anggota Direksi atau Dewan Komisaris.             Company where the said person also serves as a member
                                                                      of the Board of Directors or the Board of Commissioners.




                                                                                         Laporan Tahunan 2023
                                                                                            2023 Annual Report        205
Page 208
05                   TATA KELOLA PERUSAHAAN
                     Corporate Governance




Informasi mengenai rangkap jabatan anggota Dewan                                           Information about the concurrent position of members of the
Komisaris Perseroan telah diungkapkan di bagian Profil                                     Company’s Board of Commissioners is available in the Board
Dewan Komisaris dalam bab Laporan Manajemen pada                                           of Commissioners Profile section in the Management Report
Laporan Tahunan ini.                                                                       chapter of this Annual Report.


Pelaksanaan Tugas dan                                                                      Implementation of Duties
Tanggung Jawab                                                                             and Responsibilities

Pelaksanaan tugas dan tanggung jawab Dewan Komisaris                                       The implementation of duties and responsibilities of the
selama tahun 2023 diungkapkan sebagai berikut.                                             Board of Commissioners throughout 2023 are disclosed as
1. Memberikan pendapat dan saran kepada Direksi                                            follows.
    mengenai target kinerja dan pemenuhan kebijakan                                        1. Provide opinions and suggestions to the Board of
    strategis Perseroan; serta                                                                  Directors regarding the performance target and
2. Mengawasi kegiatan operasional Perseroan agar sesuai                                         fulfillment of the Company strategic policy; and
    dengan peraturan dan kebijakan yang berlaku.                                           2. Monitor the Company’s operational activities to adhere
                                                                                                to the prevailing regulations and policy.


Rapat
                                                                                           Meeting
Dewan Komisaris wajib mengadakan rapat internal minimal
1 kali setiap 2 bulan dan rapat gabungan dengan Direksi                   The Board of Commissioners is required to host an internal
minimal 1 kali setiap 4 bulan. Tingkat kehadiran masing-                  meeting at least once every two months and a joint meeting
masing anggota Dewan Komisaris dalam rapat di sepanjang                   with the Board of Directors at least once every four months.
tahun 2023 diungkapkan sebagai berikut.                                   The attendance rate of each member of the Board of
                                                                          Commissioners in meetings throughout 2023 is disclosed as
                                                                          follows.
                                              Rapat Internal Dewan Komisaris                Rapat Gabungan dengan Direksi
                                          Board of Commissioners Internal Meeting      Joint Meeting with the Board of Directors

       Nama            Jabatan                                                         Tingkat                                                           Tingkat
                                                                  Jumlah                                                            Jumlah
       Name            Position                                                      Kehadiran                                                         Kehadiran
                                        Jumlah Rapat            Kehadiran                                 Jumlah Rapat            Kehadiran
                                                                                     Attendance                                                        Attendance
                                        Total Meeting              Total                                  Total Meeting              Total
                                                                                        Rate                                                              Rate
                                                                Attendance                                                        Attendance
                                                                                         (%)                                                               (%)

                    Komisaris
     Fuganto        Utama
                                                 6                     6                 100.00                    4                     4                 100.00
     Widjaja1)      President
                    Commissioner
     Howen          Komisaris
                                                 6                     6                 100.00                    4                     4                 100.00
     Widjaja        Commissioner
     Dani           Komisaris
                                                 6                     3                  50.00                    4                     4                 100.00
     Lihardja1)     Commissioner
                    Komisaris
     Robinson       Independen
                                                 6                     6                 100.00                    4                     4                 100.00
     Simbolon       Independent
                    Commissioner
                    Komisaris
     Ketut          Independen
                                                 6                     6                 100.00                    4                     4                 100.00
     Sanjaya        Independent
                    Commissioner

1)
     Efektif menjabat sebagai Komisaris sejak ditutupnya RUPS Luar Biasa pada 27 Juni 2023. / Effectively serving as Commissioner since the closing of Extraordinary GMS on
     27 June 2023.



Semua kegiatan penting dan keputusan yang dihasilkan                                       All of the important activities and resolutions from the Board
dalam rapat Dewan Komisaris dicatat dan didokumentasikan                                   of Commissioners meeting are recorded and documented
dalam Risalah Rapat. Risalah Rapat tersebut ditandatangani                                 in the Minutes of Meeting. The minutes is signed by
oleh pemimpin rapat dan seluruh peserta yang hadir untuk                                   meeting chairman and all participants who attended to be
kemudian diteruskan kepada semua anggota Dewan Komisaris,                                  later distributed to all Board of Commissioners members,
baik yang hadir maupun yang tidak hadir.                                                   whether present or absent.




                     Laporan Tahunan 2023
       206           2023 Annual Report
Page 209
                                                                                       PT SINAR MAS MULTIARTHA TBK




Pengembangan Kompetensi                                                 Competency Development

Kebijakan di seluruh level organisasi Perseroan, setiap karyawan        It is the policy at all levels of the Company’s organization that
memiliki kesempatan yang setara dalam mendapatkan                       all employee has equal opportunities to receive education
pendidikan dan pelatihan. Oleh karenanya, Perseroan                     and training. Therefore, the Company signed all members
mengikutsertakan anggota Dewan Komisaris dalam seminar,                 of the Board of Commissioners to seminars, trainings, and
pelatihan, serta pengembangan kompetensi lainnya yang                   other competency development that are held both internally
dilaksanakan secara internal maupun eksternal. Program                  or externally. The competency development program joined
pengembangan kompetensi yang diikuti Dewan Komisaris                    by the Board of Commissioners throughout 2023 is disclosed
selama tahun 2023 diungkapkan sebagai berikut.                          as follows.


  Nama        Jabatan            Program Pengembangan Kompetensi                        Penyelenggara             Waktu dan Tempat
  Name        Position            Competency Development Program                          Organizer                Time and Venue

 Howen      Komisaris        The Role of Governance Risk and Compliance (GRC)        Otoritas Jasa Keuangan              Jakarta,
 Widjaja    Commissioner        in Supporting Financial Sector Performance         Financial Services Authority     23 February 2023

                                       Prospek Insurtech di Indonesia                Otoritas Jasa Keuangan
                                                                                                                  Jakarta, 2 March 2023
                                      Insurtech Prospect in Indonesia              Financial Services Authority

                                      Tantangan dan Peluang Profesi
                               Manajemen Risiko dalam Pencapaian Tujuan
                                                                                        Indonesia Risk
                                         Keuangan Berkelanjutan
                                                                                    Management Professional       Jakarta, 3 March 2023
                                      Challenges and Opportunities of
                                                                                          Association
                               the Risk Management Profession in Achieving
                                        Sustainable Financial Goals

                                  Business Continuity Management System
                                                                                     Global Integrated Risk
                                Implementation for Business Sustainability in                                     Jakarta, 4 March 2023
                                                                                    Management Association
                                              Facing Disaster

                                  Pemanfaatan Analisis Big Data dalam
                               Meningkatkan Kinerja Industri Jasa Keuangan
                                                                                     Otoritas Jasa Keuangan
                                    Utilization of Big Data Analysis in                                           Jakarta, 30 March 2023
                                                                                   Financial Services Authority
                                 Improving Financial the Performance of
                                       Financial Services Industry

                                 Kick Off Meeting Profesi Manajemen Risiko
                                 “Peran Profesi Manajemen Risiko dalam
                                 Penguatan Integritas Menuju Tata Kelola
                                                                                        Indonesia Risk
                                          Pemerintahan yang Baik”
                                                                                    Management Professional        Jakarta, 5 April 2023
                                    Kick Off Meeting Risk Management
                                                                                          Association
                                    Profession “Role of Risk Management
                                    Profession in Strengthening Integrity
                                         Toward Good Governance”

                                Manajemen Risiko Pembangunan Nasional:
                               Challenges Under the Pressure of Change and
                                               Uncertainty                           Global Integrated Risk
                                                                                                                   Jakarta, 15 July 2023
                                National Development Risk Management:               Management Association
                               Challenges Under the Pressure of Change and
                                              Uncertainty

                                       Cyber Risk dan ISO 27001:2016                  Asuransi Sumit OTO
                                                                                                                  Jakarta, 24 August 2023
                                       Cyber Risk and ISO 27001:2016                 Summit OTO Insurance

                                          Training AON Cyber Risk                      Asuransi Sinar Mas         Jakarta, 28 August 2023

                                                                                      Universitas Kristen
                                                                                     Indonesia dan Global
                                                                                        Integrated Risk
                             Penerapan Manajemen Risiko di Perguruan Tinggi         Management Association               Jakarta,
                             Risk Management Implementation in Universities           Universitas Kristen            27 October 2023
                                                                                     Indonesia and Global
                                                                                        Integrated Risk
                                                                                    Management Association

 Ketut      Komisaris                                                                Gabungan Pengusaha
 Sanjaya    Independen                                                               Kelapa Sawit Indonesia               Bali,
                               Enhancing Resiliency Amid Market Uncertainty
            Independent                                                               Indonesian Palm Oil          1-3 November 2023
            Commissioner                                                             Producers Association




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report           207
Page 210
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




Penilaian Kinerja                                              Performance Assessment

Prosedur, Kriteria, dan Pihak yang                             Procedure, Criteria, and Assessor
Melakukan Penilaian
Kinerja Dewan Komisaris dievaluasi minimal 1 kali dalam        The performance of the Board of Commissioners is evaluated
setahun dengan menggunakan metode penilaian sendiri            at least once a year via the self-assessment method, by
(self-assessment) dan melibatkan Komite Nominasi dan           involving the Nomination and Remuneration Committee.
Remunerasi. Hasil evaluasi tersebut kemudian disampaikan       The assessment result will be presented to Shareholders
kepada Pemegang Saham melalui RUPS, bersamaan dengan           through the GMS, along with the submission of the Board of
penyampaian Laporan Pengawasan Dewan Komisaris dan             Commissioners’ Supervisory Report and Board of Directors’
Pelaksanaan Tugas Direksi, Laporan Tahunan, dan Laporan        Implementation of Duties, as well as the Company’s Annual
Keuangan Perseroan.                                            Report and Financial Report.


Hasil Penilaian Kinerja                                        Performance Assessment Result
Berdasarkan hasil penilaian kinerja di tahun 2023, Dewan       Based on the performance assessment result in 2023,
Komisaris telah menjalankan tugas dan tanggung jawabnya        the Board of Commissioners has done their duties and
secara efektif, sejalan dengan Anggaran Dasar, Board           responsibilities effectively, in line with the Articles of
Manual, dan peraturan yang berlaku. Hasil penilaian tersebut   Association, Board Manual, and applicable regulations. The
kemudian dimanfaatkan sebagai:                                 assessment results will then be used as:
1. Bahan evaluasi Pemegang Saham sebelum memberikan            1. Evaluation material for the Shareholders before granting a
   pembebasan tanggung jawab sepenuhnya (volledig acquit           full release of responsibilities (volledig acquit et de charge);
   et de charge);
2. Dasar dalam meningkatkan kinerja Dewan Komisaris            2. Basis to improve the Board of Commissioners’
   di tahun berikutnya, terutama yang berkaitan dengan            performance in the following year, particularly related
   pengawasan kegiatan usaha dan penerapan GCG di                 to monitoring the business activities and implementing
   Perseroan; serta                                               GCG in the Company; and
3. Dasar dalam penetapan besaran remunerasi.                   3. Basis for determining the remuneration amount.



Penilaian Kinerja Organ Pendukung                              Performance Assessment of Board of
Dewan Komisaris                                                Commissioners Supporting Organ

Dewan Komisaris secara berkala mengevaluasi kinerja            The Board of Commissioners periodically assesses the
dari organ pendukungnya, yaitu Komite Audit dan Komite         performance of its supporting organs, namely the Audit
Nominasi serta Remunerasi, minimal 1 kali dalam setahun.       Committee and the Nomination and Remuneration Committee,
Kriteria penilaian yang digunakan, yaitu:                      at least once a year. The assessment criteria used are:
1. Realisasi laporan pelaksanaan tugas sesuai dengan           1. Realization report of the implementation of duties in line
    tanggung jawab yang dimiliki;                                   with respective responsibilities;
2. Rekomendasi yang diberikan; serta                           2. Recommendation given; and
3. Tingkat kehadiran dalam masing-masing rapat komite.         3. Attendance rate at each of the committee’s meetings.


Berdasarkan hasil evaluasi kinerja pada tahun 2023,            Based on the performance assessment results in 2023,
komite-komite Dewan Komisaris telah menjalankan                the Board of Commissioners’ committees has done
tugasnya dengan baik serta secara aktif mendukung Dewan        their duties well and actively supporting the Board of
Komisaris dalam menjalankan fungsi pengawasan dan              Commissioners in carrying out its supervisory and advisory
memberikan saran kepada Direksi mengenai kelangsungan          functions to the Board of Directors related to the continuity
usaha Perseroan.                                               of the Company’s business.




             Laporan Tahunan 2023
  208        2023 Annual Report
Page 211
                                                                                         PT SINAR MAS MULTIARTHA TBK




Direksi
Board of Directors

Direksi merupakan organ Perseroan yang bertanggung jawab                 The Board of Directors is a Company organ in charge of
dalam mengelola, menjalankan, dan mengevaluasi kegiatan                  managing, running, and evaluating the Company’s operational
operasional Perseroan.                                                   activities.



Pedoman Kerja                                                            Guidelines

Perseroan telah merumuskan Pedoman Kerja Direksi                         The Company has prepared a Board of Directors Guidelines
(Board Manual) berdasarkan prinsip-prinsip hukum                         (Board Manual), based on the principles of corporate law,
korporasi, Anggaran Dasar, peraturan perundang-undangan                  Articles of Association, prevailing laws and regulations,
yang berlaku, arahan Pemegang Saham, dan praktik terbaik                 Shareholders’ directives, and GCG best practices. In general,
GCG. Secara umum, Pedoman Kerja Direksi memuat                           the Board of Directors Manual contains information about
informasi mengenai tugas, tanggung jawab, dan hubungan                   the duties, responsibilities, and relationship between the
Dewan Komisaris dengan organ-organ Perseroan.                            Board of Commissioners and the Company’s organs.



Tugas dan Tanggung Jawab                                                 Duties and Responsibilities

Setiap anggota Direksi memiliki tugas dan tanggung jawab                 Every member of the Board of Directors has the following
sebagai berikut.                                                         duties and responsibilities.



                                                     Burhanuddin Abdullah

                                                             Direktur Utama
                                                            President Director
 Bidang Tugas
                    Mengoordinasikan seluruh proses operasional bisnis Perseroan.
 Area of
                    To coordinate the Company’s entire business operational process.
 Responsibilities
                    1. Merencanakan kebijakan umum pengelolaan Perseroan sesuai Visi, Misi, dan Tujuan Perseroan;
                    2. Menjadi koordinator dari seluruh anggota Direksi yang lain dalam melaksanakan tugas dan wewenang Direksi sesuai
 Tugas dan             dengan yang ditetapkan Anggaran Dasar; serta
 Tanggung Jawab     3. Mengoordinasikan Human Capital untuk menjamin kelancaran aktivitas operasional Perseroan.
 Duties and         1. To plan the general policy in managing the Company that is in line with the Company’s Vision, Mission, and Objective;
 Responsibilities   2. To coordinate the duties and authorities of all members of the Board of Directors as stipulated in the Articles of
                       Association; and
                    3. To coordinate the Human Capital function and ensure the smooth operational activities of the Company.




                                                                 Ferita

                                                                 Direktur
                                                                 Director
 Bidang Tugas
                    Keuangan dan administrasi.
 Area of
                    Finance and administration.
 Responsibilities
                    1. Menentukan kebijaksanaan teknis keuangan dan akuntansi berdasarkan kebijaksanaan umum operasional Perseroan;
 Tugas dan          2. Mengoordinasikan aktivitas keuangan Perseroan agar dapat mencapai target keuangan yang telah ditetapkan; serta
 Tanggung Jawab     3. Merencanakan dan menetapkan kebijakan dan strategi pengelolaan keuangan dan investasi, serta pelaporan keuangan.
 Duties and         1. To set up finance and accounting technical policy based on the general operational policy of the Company;
 Responsibilities   2. To coordinate the Company’s financial activities to achieve the financial target; and
                    3. To plan and set up the policy and strategy for managing the Company’s finance and investment and financial reporting.




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report           209
Page 212
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




                                                                 Felix

                                                                Direktur
                                                                Director
 Bidang Tugas
                    Pengembangan usaha.
 Area of
                    Business development.
 Responsibilities
                    1. Menentukan kebijakan pengembangan bisnis perusahaan berdasarkan kebijakan umum pengembangan bisnis
                       perusahaan;
                    2. Mengoordinasikan aktivitas investasi dan pengembangan bisnis Perseroan untuk meningkatkan pendapatan
                       perusahaan;
 Tugas dan          3. Merencanakan dan menetapkan strategi pengembangan usaha dengan memanfaatkan potensi sumber daya
 Tanggung Jawab        Perseroan dan Entitas Anak dan/atau bekerja sama dengan mitra kerja; dan
 Duties and         4. Mengoordinasikan Fungsi Audit Internal.
 Responsibilities   1. To set up the Company’s business development policy based on the company’s business development general policy;
                    2. To coordinate the Company’s investment activities and business development to improve the Company’s income;
                    3. To plan and setup the business development strategy by utilizing the Company and its Subsidiaries’ potential and/or
                       to collaborate with its business partners; and
                    4. To coordinate the Internal Audit Function.




                                                     Agus Leman Gunawan

                                                                Direktur
                                                                Director
 Bidang Tugas
                    Tata kelola perusahaan.
 Area of
                    Corporate governance.
 Responsibilities
                    1. Melaksanakan tugas dan kewenangan Direksi sesuai dengan yang ditetapkan dalam Anggaran Dasar; serta
 Tugas dan          2. Mengoordinasikan kegiatan tata kelola perusahaan agar dapat diterapkan secara efektif dalam seluruh aktivitas
 Tanggung Jawab        bisnis dan operasional Perseroan.
 Duties and         1. To carry out the Board of Directors’ duties and authorities as stipulated in the Articles of Association; and
 Responsibilities   2. To coordinate the company’s corporate governance activities so that they can be effectively implemented in all the
                       Company’s business activities and operations.




                                                             Lili Wijata

                                                                Direktur
                                                                Director
 Bidang Tugas
                     Teknologi informasi.
 Area of
                     Information technology.
 Responsibilities
                     1. Melakukan perencanaan, penyiapan, dan pengembangan teknologi dalam mengatur sistem jaringan; serta
 Tugas dan           2. Melaksanakan pengelolaan jaringan komunikasi data dan keamanan data, pengelolaan perangkat keras dan
 Tanggung Jawab         perangkat lunak, serta pengendalian dan pemanfaatan infrastruktur teknologi informasi.
 Duties and          1. Conducting planning, preparation, and development of technology in organizing network systems; and
 Responsibilities    2. Managing data communication network, data security, hardware, and software, as well as control and utilization of
                        information technology infrastructure.



Direksi juga memiliki peran krusial dalam menerapkan                    The Board of Directors also plays a crucial role in
tata kelola berkelanjutan sebagai entitas yang memastikan               implementing sustainable governance as an entity ensuring
kegiatan bisnis berjalan dengan baik serta selalu                       that the business activities are conducted soundly and always
mempertimbangkan dampak sosial dan lingkungan.                          considers the social and environmental impacts. The Board
Direksi juga bertanggung jawab atas pengembangan dan                    of Directors is also responsible for the development and
pelaksanaan komitmen berkelanjutan Perseroan, termasuk                  implementation of the Company’s sustainability commitment,
menyusun kebijakan berkelanjutan, arah strategis, dan                   including formulating the sustainability policy, strategic
melaksanakan inisiatif berkelanjutan.                                   direction, and implementing sustainability initiatives.




              Laporan Tahunan 2023
  210         2023 Annual Report
Page 213
                                                                               PT SINAR MAS MULTIARTHA TBK




Komposisi dan Independensi                                        Composition and Independence

Komposisi                                                         Composition
Mengacu pada keputusan RUPS Luar Biasa pada tanggal               Based on the Extraordinary GMS resolutions dated 27 June
27 Juni 2023, Perseroan telah menyetujui pengunduran diri         2023, the Company has approved the resignation of Dani
Dani Lihardja sebagai Direktur. Berdasarkan hal tersebut,         Lihardja as Director. Thus, the composition of members of
komposisi anggota Direksi Perseroan per 31 Desember 2023          the Company’s Board of Directors as of 31 December 2023
menjadi sebagai berikut.                                          is as follows.


                 Nama                                    Jabatan                               Pertama Kali Menjabat
                 Name                                    Position                                   Starting Year

                                                     Direktur Utama
 Burhanuddin Abdullah                                                                                  2021
                                                    President Director
                                                           Direktur
 Agus Leman Gunawan                                                                                    2012
                                                           Director
                                                           Direktur
 Felix                                                                                                 2021
                                                           Director
                                                           Direktur
 Ferita                                                                                                2021
                                                           Director
                                                           Direktur
 Lili Wijata                                                                                           2022
                                                           Director




Independensi                                                      Independence
Perseroan menjamin seluruh anggota Direksi bertindak              The Company guarantees that all members of the Board of
secara independen, objektif, dan profesional dalam                Directors act independently, objectively, and professionally
menjalankan tugas dan tanggung jawabnya.                          in conducting their duties and responsibilities.



Hubungan Afiliasi                                                 Affiliation Relationship

Berikut informasi hubungan afiliasi Direksi dengan Dewan          Following is the information on affiliation relationship
Komisaris dan Pemegang Saham Pengendali Perseroan.                of the Board of Directors with the Company’s Board of
                                                                  Commissioners and Controlling Shareholders.


                                   Hubungan Keuangan dengan                            Hubungan Keluarga dengan
                                   Financial Relationship with                          Family Relationship with
                                                               Pemegang                                         Pemegang
                               Dewan                                             Dewan
     Nama        Jabatan                      Direksi            Saham                             Direksi        Saham
                              Komisaris                                         Komisaris
                                             Board of          Pengendali                         Board of      Pengendali
     Name        Position     Board of                                          Board of
                                             Directors         Controlling                        Directors     Controlling
                            Commissioners                                     Commissioners
                                                              Shareholders                                     Shareholders
                             Ya     Tidak   Ya     Tidak      Ya      Tidak    Ya      Tidak     Ya    Tidak   Ya      Tidak
                             Yes     No     Yes     No        Yes      No      Yes      No       Yes    No     Yes      No

                Direktur
 Burhanuddin    Utama
                                      √              √                   √               √               √               √
 Abdullah       President
                Director
 Agus Leman     Direktur
                                      √              √                   √               √               √               √
 Gunawan        Director
                Direktur
 Felix                                √              √                   √               √               √               √
                Director
                Direktur
 Ferita                               √              √                   √               √               √               √
                Director
                Direktur
 Lili Wijata                          √              √                   √               √               √               √
                Director




                                                                                         Laporan Tahunan 2023
                                                                                            2023 Annual Report         211
Page 214
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




Rangkap Jabatan                                                    Concurrent Position

Sesuai dengan Peraturan Otoritas Jasa Keuangan                     Financial Services Authority Regulation No. 33/POJK.04/2014
No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris            on the Board of Directors and Board of Commissioners of
Emiten atau Perusahaan Publik, anggota Direksi Perseroan           the Issuer or Public Company, allows the Board of Directors
dapat merangkap jabatan dengan ketentuan sebagai                   members to hold a concurrent position under the following
berikut.                                                           conditions.
1. Anggota Direksi paling banyak 1 Emiten atau Perusahaan          1. Member of the Board of Directors at a maximum of 1
    Publik lain;                                                       other Issuer or Public Company;
2. Anggota Dewan Komisaris paling banyak pada 3 Emiten             2. Member of the Board of Commissioners at a maximum
    atau Perusahaan Publik lain; serta                                 of 3 other Issuers or Public Companies; and
3. Anggota komite paling banyak pada 5 komite di Emiten            3. Committee member at a maximum of 5 committees in
    atau Perusahaan Publik di mana yang bersangkutan juga              Issuer or Public Company where the said person also
    menjabat sebagai anggota Direksi atau anggota Dewan                served as a member of the Board of Directors or Board
    Komisaris.                                                         of Commissioners.


Rangkap jabatan tersebut hanya dapat dilakukan selama              The concurrent position can only be made provided that it
tidak melanggar peraturan perundang-undangan lain                  is not conflicting with other prevailing laws and regulations
yang berkaitan dengan rangkap jabatan Direksi. Informasi           concerning the concurrent position of the Board of
mengenai rangkap jabatan anggota Direksi Perseroan telah           Directors. Information about the concurrent position of
diungkapkan di bagian Profil Direksi dalam bab Laporan             members of the Company’s Board of Directors is available
Manajemen pada Laporan Tahunan ini.                                in the Board of Directors Profile section in the Management
                                                                   Report chapter of this Annual Report.



Pelaksanaan Tugas dan                                              Implementation of Duties and
Tanggung Jawab                                                     Responsibilities

Pelaksanaan tugas dan tanggung jawab Direksi selama                The implementation of duties and responsibilities of the
tahun 2023 diungkapkan sebagai berikut.                            Board of Directors throughout 2023 are disclosed as follows.
1. Memimpin dan mengurus Perseroan untuk mencapai                  1. Lead and manage the Company to achieve its goals, in
    tujuan perusahaan, sesuai dengan tanggung jawab                   line with the responsibilities and authorities of the Board
    dan kewenangan Direksi, sebagaimana diatur dalam                  of Directors, as regulated in the Articles of Association
    Anggaran Dasar dan peraturan yang berlaku;                        and prevailing regulations;
2. Menyusun Annual Business Plan 2023 yang berisikan               2. Prepare the Annual Business Plan 2023 containing the
    pedoman dan target kerja Perseroan untuk tahun 2023,              Company’s guidelines and work targets for 2023, and
    kemudian menyampaikannya kepada Dewan Komisaris                   submit it to the Board of Commissioners for approval;
    untuk pemberian persetujuan;
3. Memastikan Perseroan melaksanakan tata kelola                   3. Ensure that the Company implements corporate
    perusahaan sesuai dengan prinsip-prinsip GCG, Anggaran            governance in line with the GCG principles, the Company’s
    Dasar Perseroan, peraturan pasar modal lain, serta                Articles of Association, other capital market regulations,
    peraturan perundang-undangan di setiap kegiatan usaha             and laws and regulations in every business activity of the
    Perseroan;                                                        Company;
4. Menguasai dan mengembangkan sistem pengendalian                 4. Master and develop an effective internal control system
    internal yang efektif dan memastikan penerapannya telah           and ensure that its implementation has run safely to
    berjalan aman untuk mencapai tujuan yang ditetapkan               achieve the goals set by the Company;
    Perseroan;
5. Mengelola temuan audit dan rekomendasi dari Audit               5. Manage audit findings and recommendations from
    Internal, auditor eksternal, serta hasil pengawasan Otoritas      Internal Audit, external auditor, and supervisory result
    Jasa Keuangan;                                                    of the Financial Services Authority;




              Laporan Tahunan 2023
  212         2023 Annual Report
Page 215
                                                                                PT SINAR MAS MULTIARTHA TBK




6. Memperbarui dan mengevaluasi ketentuan dan peraturan           6. Update and evaluate the provisions and regulations
   perusahaan agar selalu update dengan perubahan dan                of the company to be constantly updated with the
   peraturan, baik peraturan internal maupun peraturan               changes and regulations, both internal and external
   eksternal;                                                        regulations;
7. Memanfaatkan secara optimal seluruh sumber daya                7. Make optimal use of all the resources owned for the
   yang dimiliki untuk pengembangan Perseroan; serta                 development of the Company; and
8. Menjalin kerja sama serta menjaga hubungan baik                8. Establish cooperation and maintain a good relationship
   dengan seluruh pemangku kepentingan.                              with all stakeholders.



Rapat                                                             Meeting

Direksi wajib mengadakan rapat internal minimal 1 kali setiap     The Board of Directors is required to host an internal meeting
1 bulan dan rapat gabungan dengan Dewan Komisaris                 at least once every month and a joint meeting with the Board
minimal 1 kali setiap 4 bulan. Tingkat kehadiran masing-          of Commissioners at least once every four months. The
masing anggota Direksi dalam rapat di sepanjang tahun             attendance rate of each member of the Board of Directors in
2023 diungkapkan sebagai berikut.                                 meetings throughout 2023 is disclosed as follows.



                                                                                    Rapat Gabungan dengan Dewan
                                       Rapat Internal Direksi                                 Komisaris
                                 Board of Directors Internal Meeting                Joint Meeting with the Board of
                                                                                            Commissioners
     Nama       Jabatan
     Name       Position                                          Tingkat                                          Tingkat
                                                Jumlah                                            Jumlah
                                                                Kehadiran                                        Kehadiran
                            Jumlah Rapat      Kehadiran                       Jumlah Rapat      Kehadiran
                                                                Attendance                                       Attendance
                            Total Meeting        Total                        Total Meeting        Total
                                                                   Rate                                             Rate
                                              Attendance                                        Attendance
                                                                    (%)                                              (%)


               Direktur
 Burhanuddin   Utama
                                  12               12             100.00             4                4             100.00
 Abdullah      President
               Director


 Agus Leman    Direktur
                                  12               12             100.00             4                4             100.00
 Gunawan       Director


               Direktur
 Felix                            12               12             100.00             4                4             100.00
               Director


               Direktur
 Ferita                           12               12             100.00             4                4             100.00
               Director


               Direktur
 Lili Wijata                      12               12             100.00             4                4             100.00
               Director



Semua kegiatan penting dan keputusan yang dihasilkan              All of the important activities and resolutions from the
dalam rapat Direksi dicatat dan didokumentasikan dalam            Board of Directors meeting are recorded and documented
Risalah Rapat. Risalah Rapat tersebut ditandatangani oleh         in the Minutes of Meeting. The minutes is signed by meeting
pemimpin rapat dan seluruh peserta yang hadir untuk               chairman and all participants who attended to be later
kemudian diteruskan kepada semua anggota Direksi, baik            distributed to all Board of Directors members, whether
yang hadir maupun yang tidak hadir.                               present or absent.




                                                                                          Laporan Tahunan 2023
                                                                                             2023 Annual Report         213
Page 216
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




Pengembangan Kompetensi                                               Competency Development

Kebijakan di seluruh level organisasi Perseroan, setiap karyawan      It is the policy at all levels of the Company’s organization that
memiliki kesempatan yang setara dalam mendapatkan                     all employee has equal opportunities to receive education
pendidikan dan pelatihan. Oleh karenanya, Perseroan                   and training. Therefore, the Company signed all members
mengikutsertakan anggota Direksi dalam seminar, pelatihan,            of the Board of Directors to seminars, trainings, and other
serta pengembangan kompetensi lainnya yang dilaksanakan               competency development that are held both internally or
secara internal maupun eksternal. Program pengembangan                externally. The competency development program joined
kompetensi yang diikuti Direksi selama tahun 2023 diungkapkan         by the Board of Directors throughout 2023 is disclosed
sebagai berikut.                                                      as follows.


    Nama         Jabatan         Program Pengembangan Kompetensi                      Penyelenggara             Waktu dan Tempat
    Name         Position         Competency Development Program                        Organizer                Time and Venue

                                                                                     Asosiasi Perusahaan
                              Seminar Nasional Era Baru Industri Pembiayaan
                Direktur                                                           Pembiayaan Indonesia
 Felix                          National Seminar New Era of the Financing                                       Jakarta, 6 June 2023
                Director                                                            Indonesian Financing
                                                 Industry
                                                                                   Companies Association
                                       Masterclass Program Series XXII:                                                Bogor,
                                                                                  Lembaga Sertifikasi Profesi
                               Risk Capacity, The Fundamental Missing Puzzle in                                      31 August-
                Direktur                                                             Manajemen Risiko
 Ferita                                   Risk Management Practice                                               1 September 2023
                Director
                              Cara Mudah Mengagregasikan Risiko Organisasi        Lembaga Sertifikasi Profesi         Online,
                              How to Easily Aggregate the Organization Risks         Manajemen Risiko            3 November 2023



Penilaian Kinerja                                                     Performance Assessment

Prosedur, Kriteria, dan Pihak yang                                    Procedure, Criteria, and Assessor
Melakukan Penilaian
Kinerja Direksi dievaluasi minimal 1 kali dalam setahun               The performance of the Board of Directors is evaluated
dengan menggunakan metode penilaian sendiri (self-                    at least once a year via the self-assessment method, by
assessment) dan melibatkan Komite Nominasi dan                        involving the Nomination and Remuneration Committee.
Remunerasi. Hasil evaluasi tersebut kemudian disampaikan              The assessment result will be presented to Shareholders
kepada Pemegang Saham melalui RUPS, bersamaan dengan                  through the GMS, along with the submission of the Board of
penyampaian Laporan Pengawasan Dewan Komisaris dan                    Commissioners’ Supervisory Report and Board of Directors’
Pelaksanaan Tugas Direksi, Laporan Tahunan, dan Laporan               Implementation of Duties, as well as the Company’s Annual
Keuangan Perseroan.                                                   Report and Financial Report.



Hasil Penilaian Kinerja                                               Performance Assessment Result
Berdasarkan hasil penilaian kinerja di tahun 2023, Direksi            Based on the performance assessment result in 2023, the
telah menjalankan tugas dan tanggung jawabnya secara                  Board of Directors has done their duties and responsibilities
efektif, sejalan dengan Anggaran Dasar, Board Manual, dan             effectively, in line with the Articles of Association, Board
peraturan yang berlaku. Hasil penilaian tersebut kemudian             Manual, and applicable regulations. The assessment results
digunakan sebagai:                                                    will be used as:
1. Bahan evaluasi Pemegang Saham sebelum memberikan                   1. Evaluation material for the Shareholders before granting
    pembebasan tanggung jawab sepenuhnya (volledig                         a full release of responsibilities (volledig acquit et
    acquit et de charge);                                                  de charge);
2. Dasar dalam meningkatkan kinerja Direksi di                        2. Basis to improve the Board of Directors’ performance
    tahun berikutnya, terutama yang berkaitan dengan                       in the following year, particularly related to monitoring
    pengawasan kegiatan usaha dan penerapan GCG di                         the business activities and implementing GCG in the
    Perseroan; serta                                                       Company; and
3. Dasar dalam penetapan besaran remunerasi.                          3. Basis for determining the remuneration amount.




              Laporan Tahunan 2023
  214         2023 Annual Report
Page 217
                                                                           PT SINAR MAS MULTIARTHA TBK




Penilaian Kinerja Organ Pendukung                             Performance Assessment of Board of
Direksi                                                       Directors Supporting Organ

Direksi secara berkala mengevaluasi kinerja organ             The Board of Directors periodically assesses the performance
pendukungnya, termasuk Sekretaris Perusahaan dan Audit        of its supporting organs, including the Corporate Secretary
Internal. Kriteria evaluasi meliputi pelaksanaan tugas dan    and Internal Audit. The evaluation criteria include the
tanggung jawab selama tahun buku. Berdasarkan hasil           implementation of duties and responsibilities throughout the
evaluasi, Sekretaris Perusahaan dan Audit Internal di tahun   financial year. Based on the performance assessment results
2023 telah menunjukkan kinerja yang baik dalam membantu       in 2023, the Corporate Secretary and Internal Audit have
Direksi melaksanakan fungsi pengelolaan Perseroan.            shown good performances in assisting the Board of Directors
                                                              in carrying out the Company’s management functions.



Informasi tentang Komite di bawah                             Information about Committee under
Direksi                                                       the Board of Directors

Hingga akhir tahun 2023, Perseroan belum memiliki komite      Until the end of 2023, the Company has no committee under
di bawah Direksi, sehingga tidak terdapat informasi terkait   the Board of Directors, so there is no information about the
pelaksanaan tugas dan penilaian terhadap kinerja komite di    implementation of duties and performance assessment of
bawah Direksi.                                                committee under the Board of Directors.




Kebijakan Nominasi dan Remunerasi Dewan
Komisaris dan Direksi
Board of Commissioners and Board of Directors Nomination and
Remuneration Policy

Nominasi Dewan Komisaris dan Direksi                          Board of Commissioners and Board of
                                                              Directors Nomination

Prosedur Nominasi                                             Nomination Procedure
Perseroan telah menyusun kebijakan mengenai nominasi          The Company has prepared a Board of Commissioners and
Dewan Komisaris dan Direksi yang bertujuan untuk              Board of Directors nomination policy, aiming to maintain the
menjaga kesinambungan proses regenerasi atau kaderisasi       continuity of leadership regeneration or cadre preparation
kepemimpinan di Perseroan dalam rangka mempertahankan         in the Company to maintain the business continuity and
keberlanjutan bisnis dan tujuan jangka panjang Perseroan.     Company’s long-term goals. The policy is included in the
Kebijakan tersebut dituangkan dalam Pedoman Kerja Dewan       Board Manual of the Board of Commissioners and Board of
Komisaris dan Direksi. Proses nominasi anggota Dewan          Directors. The nomination process of member of the Board of
Komisaris akan dilakukan oleh Dewan Komisaris, sedangkan      Commissioners will be done by the Board of Commissioners,
anggota Direksi akan dilakukan oleh Direksi kepada RUPS       while member of the Board of Directors will be done by
setelah mendapatkan rekomendasi dari Komite Nominasi          Board of Directors to GMS upon recommendation from the
dan Remunerasi.                                               Nomination and Remuneration Committee.




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report        215
Page 218
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




Remunerasi Dewan Komisaris dan Direksi                          Board of Commissioners and Board of
                                                                Directors Remuneration

Prosedur dan Dasar Penetapan Remunerasi                         Basic Procedure for Determining Remuneration
Kebijakan remunerasi dan fasilitas lainnya untuk Dewan          The remuneration policy and other facilities for the Board of
Komisaris dan Direksi ditetapkan oleh Pemegang Saham            Commissioners and Board of Directors are determined by
dalam RUPS. Namun, keputusan tersebut dapat didelegasikan       Shareholders at the GMS. However, the determination can be
berdasarkan kekuasaan yang diberikan oleh RUPS. Sesuai          delegated with a power of attorney from the GMS. Thus, as
dengan keputusan RUPS Tahunan pada tanggal 27 Juni 2023,        stated in the Annual GMS resolutions dated 27 June 2023, the
wewenang penetapan remunerasi diberikan kepada Komite           authority to determine the remuneration amount has been
Nominasi dan Remunerasi dengan memperhatikan syarat             delegated to the Nomination and Remuneration Committee
dan ketentuan berikut.                                          while considering the prevailing terms and provisions.
1. Mempertimbangkan hasil penilaian kinerja masing-             1. Considering the performance assessment result of each
    masing anggota Dewan Komisaris dan Direksi;                     member of the Board of Commissioners and Board of
                                                                    Directors;
2. Mempertimbangkan hasil kajian Dewan Komisaris                2. Considering the review result of the Board of
   terkait remunerasi; serta                                        Commissioners on remuneration; and
3. Memperhatikan kondisi Perseroan.                             3. Paying attention to the Company’s condition.


Struktur dan Besaran Remunerasi                                 Structure and Remuneration Amount
Struktur remunerasi yang diterima oleh Dewan Komisaris          The Remuneration structure received by the Board of
dan Direksi, terdiri dari:                                      Commissioners and Board of Directors consist of:
1. Remunerasi tetap, yaitu remunerasi yang tidak                1. Fixed remuneration, i.e. remuneration unrelated to
    dikaitkan dengan kinerja dan risiko, seperti gaji pokok,       performance and risk, such as basic salary, religious
    tunjangan hari raya (THR), asuransi kesehatan dan BPJS         holiday allowance (THR), health insurance, Employment
    Ketenagakerjaan, serta fasilitas lain berupa transportasi      Insurance (BPJS Ketenagakerjaan), and other facilities
    dan komunikasi; serta                                          such as transportation and communication; and
2. Remunerasi variabel, yaitu remunerasi yang dikaitkan         2. Variable remuneration, i.e. remuneration related to
    dengan kinerja dan risiko, di antaranya bonus.                 performance and risk, such as bonus.


Pada tahun 2023, total remunerasi yang diberikan kepada         In 2023, total remuneration provided to the Company’s Board of
seluruh Dewan Komisaris dan Direksi Perseroan dan Entitas       Commissioners and Board of Directors, as well as its Subsidiaries
Anak sebesar Rp6,62 miliar. Penentuan nilai remunerasi ini      reached Rp6.62 billion. The determination of remuneration
telah mempertimbangkan pencapaian keberhasilan kinerja          value has taken into account the achievement of the Board of
Dewan Komisaris dan Direksi serta telah dilaporkan kepada       Commissioners’ and Board of Directors’ performance success
Dewan Komisaris.                                                and has been reported to the Board of Commissioners.




             Laporan Tahunan 2023
  216        2023 Annual Report
Page 219
                                                                             PT SINAR MAS MULTIARTHA TBK




Komite Audit
Audit Committee

Komite Audit merupakan komite yang dibentuk oleh                The Audit Committee is a committee established by and
dan bertanggung jawab kepada Dewan Komisaris dalam              responsible to the Board of Commissioners, assisting the
membantu melaksanakan tugas dan fungsi Dewan Komisaris          Board of Commissioners in carrying out the duties and
dalam rangka memastikan terselenggaranya penerapan              function to ensure GCG implementation in the Company’s
GCG dalam kegiatan usaha Perseroan dan pengawasan               business activities and supervise the implementation of
terhadap pelaksanaan tugas dan tanggung jawab Direksi.          duties and responsibilities of the Board of Directors.



Pedoman Kerja                                                   Audit Committee Charter

Perseroan telah menyusun Piagam Komite Audit dan                The Company has prepared the Audit Committee Charter
memutakhirkannya pada tanggal 2 Januari 2020. Piagam            and updated it on 2 January 2020. The information contained
Komite Audit memuat informasi mengenai:                         in the Audit Committee Charter is as follows:
1. Dasar dan Tujuan Pembentukan;                                1. Basis and Objective of Establishment;
2. Organisasi dan Masa Kerja;                                   2. Organization and Period of Service;
3. Tugas dan Wewenang;                                          3. Duties and Authorities;
4. Rapat dan Pelaporan; serta                                   4. Meeting and Reporting; and
5. Anggaran.                                                    5. Budget.



Tugas dan Tanggung Jawab                                        Duties and Responsibilities

Komite Audit Perseroan memiliki tugas dan tanggung jawab        The Company’s Audit Committee has the following duties
sebagai berikut.                                                and responsibilities.
1. Terkait Audit Internal                                       1. Related to Internal Audit
   a. Mengkaji ulang dan menyetujui Piagam Audit                   a. To review and approve the Internal Audit Charter;
       Internal (Internal Audit Charter);
   b. Menerima rangkuman laporan yang dibuat dan                   b. To receive the summary report prepared and
       diberikan Unit Internal Audit kepada Manajemen                 submitted by the Internal Audit Unit to the
       serta tanggapan Manajemen terhadap rangkuman                   Management and the Management’s response to
       laporan tersebut;                                              the summary report;
   c. Mengadakan pertemuan secara rutin dengan Audit               c. To conduct a regular meeting with the Internal Audit
       Internal untuk membahas temuan-temuan Audit                    to discuss Internal Audit findings;
       Internal;
   d. Mengkaji ulang dan memberi masukan atas Program              d. To review and give input on the Annual Audit Work
       Kerja Pemeriksaan Tahunan yang disusun oleh Unit               Program periodically prepared by the Internal Audit
       Internal Audit secara berkala pada awal tahun;                 Unit at the beginning of the year;
   e. Mengkaji ulang aktivitas, struktur organisasi dan            e. To review the activities, organization structure, and
       kualifikasi personel Audit Internal untuk memastikan           qualifications of Internal Audit personnel to ensure
       bahwa Audit Internal dapat bekerja secara independen           that the Internal Audit can work independently and
       dan objektif sesuai dengan standar audit yang berlaku;         objectively in line with the prevailing audit standards;
   f. Melakukan penelaahan atas efektivitas fungsi audit           f. To review the effectivity of the internal audit function;
       internal; serta                                                and
   g. Menelaah dan memberikan saran kepada Dewan                   g. To review and advise the Board of Commissioners
       Komisaris terkait dengan adanya potensi benturan               on the potential conflict of interest in the Company.
       kepentingan Perseroan.
2. Terkait Auditor Eksternal                                    2. Related to External Auditor
   a. Memberi rekomendasi kepada Dewan Komisaris                   a. To give a recommendation to the Board of
       mengenai pemilihan dan pemberhentian auditor                    Commissioners on the appointment and dismissal of
       eksternal;                                                      an external auditor;




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report           217
Page 220
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




     b. Menelaah rencana audit termasuk ruang lingkup,               b. To review the audit plan, including the scope,
        prosedur, dan ketentuan-ketentuan audit;                         procedures, and provisions of the audit;
     c. Memantau pembahasan temuan audit oleh auditor                c. To monitor the discussion of audit findings from
        eksternal dengan Manajemen. Jika terdapat perbedaan              external auditor with the Management. The Audit
        antara auditor eksternal dan Manajemen atas jasa                 Committee is to give an independent opinion if there
        yang diberikan, maka Komite Audit memberikan                     is a discrepancy between the external auditor and
        pendapat independen; serta                                       the Management on the services provided; and
     d. Melakukan penelaahan atas efektivitas pelaksanaan            d. To review the effectivity of the external audit
        fungsi audit eksternal.                                          function.
3.   Terkait Laporan Keuangan                                     3. Related to Financial Report
     a. Membahas dan mendiskusikan Laporan Keuangan                  a. To discuss with the external auditor, the Company
        Perseroan dengan auditor eksternal serta prinsip dan             Financial Report, accounting practice, and principles,
        praktik akuntansi dan pelaporan yang diterapkan                  and reporting adopted by the Company to present
        Perseroan dalam menyajikan Laporan Keuangan                      the Financial Report to ensure its compliance with
        untuk memastikan pemenuhan dari pedoman                          the prevailing financial accounting standard (PSAK);
        standar akuntansi keuangan (PSAK) yang berlaku;
     b. Mendorong agar Laporan Keuangan yang telah                   b. To encourage the audited Financial Report to be
        diaudit untuk dilaporkan kepada Bursa Efek                       submitted to the Indonesia Stock Exchange, Financial
        Indonesia atau Otoritas Jasa Keuangan atau institusi-            Services Authority, or other institutions in a timely
        institusi lainnya tepat waktu dan sesuai dengan                  manner and in line with the prevailing regulations;
        ketentuan dalam peraturan yang berlaku; serta                    and
     c. Mendiskusikan dengan Dewan Komisaris dan                     c. To discuss with the Board of Commissioners and
        Manajemen mengenai informasi penting atau                        the Management, important or material information
        material untuk diungkapkan kepada publik, seperti                to be disclosed to the public, such as the press,
        pers, analis, dan perusahaan peringkat.                          analysts, and rating agencies.
4.   Menelaah kepatuhan Perseroan terhadap peraturan              4. To review the Company’s compliance with the laws and
     perundang-undangan di bidang pasar modal dan peraturan          regulations related to the capital market and the laws
     perundang-undangan yang terkait dengan operasi                  and regulations related to Company’s operations, and
     Perseroan dan manajemen telah melaksanakan GCG.                 the management’s implementation of GCG.
5.   Mengkaji ulang proses identifikasi risiko dan pelaksanaan    5. To review the risk identification process and risk
     manajemen risiko yang dilakukan oleh Manajemen dan              management implementation carried out by the
     dampaknya terhadap Laporan Keuangan serta rencana-              Management and its impact on the Financial Report and
     rencana untuk meminimalkan risiko-risiko tersebut.              plans to minimize the risks.
6.   Terkait pengaduan pihak ketiga                               6. Related to third-party complaints
     a. Menelaah pengaduan pihak ketiga dan meneruskannya            a. To review third-party complaints and to relay the
        kepada pihak yang berkepentingan;                                complaints to the authorized party;
     b. Memantau tindak lanjut pengaduan yang berkaitan              b. To monitor follow-up actions on any complaints
        dengan Perseroan;                                                related to the Company;
     c. Syarat Pengaduan:                                            c. Requirement to raise complaints:
        1) Disampaikan secara tertulis;                                  1) Complaints are submitted in writing;
        2) Jika pelapor menyebutkan identitasnya, Komite                 2) The Audit Committee is obliged to conceal the
             Audit wajib merahasiakan jati diri pelapor; serta               reporter’s identity, if there is any; and
        3) Laporan mengenai penyimpangan standar                         3) Report on the deviation of the accounting
             akuntansi, kelemahan pengendalian internal,                     standard, internal control weakness, fraud, and
             fraud, serta perilaku Manajemen yang tidak terpuji              Management’s inappropriate behavior that may
             yang dapat mengganggu operasi Perseroan;                        disrupt the Company’s operations;
     d. Dalam menangani pengaduan yang disampaikan                   d. In handling the third-party complaints, the Audit
        pihak ketiga, Komite Audit dapat meminta dilakukan               Committee may request an audit investigation to be
        audit investigasi dengan bekerja sama dengan                     conducted by collaborating with the Management,
        Manajemen, Audit Internal, atau tenaga ahli dari luar            Internal Audit, or independent expert from outside
        Perseroan yang independen; serta                                 the Company; and
     e. Melaporkan hasil penelaahan kepada Dewan                     e. To report the review result to the Board of
        Komisaris dan memantau tidak lanjut hasil                        Commissioners and to monitor the follow-up if
        penelaahan bila diminta oleh Dewan Komisaris.                    required by the Board of Commissioners.




              Laporan Tahunan 2023
     218      2023 Annual Report
Page 221
                                                                                       PT SINAR MAS MULTIARTHA TBK




7. Tugas lainnya                                                        7. Other duties
   a. Melaksanakan tugas-tugas pengawasan lain sesuai                      a. To carry out other supervisory duties as required by
      dengan permintaan Dewan Komisaris;                                      the Board of Commissioners;
   b. Mengkaji ulang Piagam Kerja sesuai dengan                            b. To review the Work Charter as needed and to propose
      kebutuhan dan mengusulkan perubahannya kepada                           related changes for the Board of Commissioners’
      Dewan Komisaris untuk mendapatkan persetujuan;                          approval;
   c. Melakukan evaluasi terhadap kinerja Komite Audit                     c. To conduct a periodic evaluation of the performance
      dan para anggotanya secara berkala; serta                               of the Audit Committee and its member; and
   d. Menjaga kerahasiaan dokumen, data, dan informasi                     d. To maintain the confidentiality of the Company’s
      Perseroan.                                                              documents, data, and information.


Selain itu, Komite Audit Perseroan dalam menjalankan tugas              In carrying out its duties and responsibilities, the Company’s
dan tanggung jawabnya memiliki kewenangan untuk:                        Audit Committee has the authorities to:
1. Mengakses dokumen, data, dan informasi Perseroan                     1. Access the Company’s documents, data, and information
    tentang karyawan, dana, aset, dan sumber daya Perseroan                 about the Company’s employees, funds, assets, and
    yang diperlukan serta berkaitan dengan pelaksanaan                      resources which are required and related to performing
    tugasnya;                                                               its duties;
2. Melakukan komunikasi langsung dengan karyawan,                       2. Communicate directly to the employee, including the
    termasuk Direksi dan pihak yang menjalankan fungsi                      Board of Directors and parties performing internal audit
    audit internal, manajemen risiko, dan akuntan, terkait                  function, risk management, and accountant, related to
    tugas dan tanggung jawab Komite Audit;                                  the Audit Committee duties and responsibilities;
3. Melibatkan pihak independen di luar anggota Komite                   3. Engage an independent party outside the Audit
    Audit yang diperlukan untuk membantu pelaksanaan                        Committee member to assist the Committee in
    tugas (jika diperlukan);                                                performing its duties (if required);
4. Melakukan kewenangan lain yang ditugaskan oleh                       4. Perform other authorities assigned by the Board of
    Dewan Komisaris; serta                                                  Commissioners; and
5. Dalam melakukan kewenangannya, Komite Audit bekerja                  5. In exercising its authority, the Audit Committee collaborates
    sama dengan unit-unit terkait.                                          with other related units.



Komposisi dan Independensi                                              Composition and Independence

Komposisi                                                               Composition
Komposisi Komite Audit paling sedikit berjumlah 3 orang,                The composition of the Audit Committee comprises of at
yang terdiri dari Komisaris Independen dan pihak                        least 3 people, namely Independent Commissioner and
independen yang dipilih sesuai dengan keahlian dan                      independent parties selected according to their expertise
pengalaman di bidang akuntansi dan/atau keuangan,                       and experience in accounting and/or finance, as well as
serta memiliki pemahaman yang baik mengenai tata kelola                 having good knowledge about corporate governance. The
perusahaan. Komposisi dan profil Komite Audit Perseroan                 Company’s Audit Committee composition and profile as of
per 31 Desember 2023 sebagai berikut.                                   31 December 2023 is as follows.



                                                      Robinson Simbolon

                                                         Ketua Komite Audit
                                                      Audit Committee Chairman

         Periode dan Dasar Pengangkatan                                   Period of Service and Basis of Appointment

         Sejak 14 Juni 2022, berdasarkan Akta Berita Acara Rapat Umum     Since 14 June 2022, based on the Deed of Minutes of
         Pemegang Saham Luar Biasa No. 56 tanggal 14 Juni 2022 dengan     Extraordinary General Meeting of Shareholders No. 56 dated 14
         masa tugas sampai dengan tahun 2024.                             June 2022 with serving period up to 2024.

 Profil dapat dilihat pada bagian Profil Dewan Komisaris di bab Laporan Manajemen dalam Laporan Tahunan ini.
 His profile can be seen in the Board of Commissioners’ Profile under the Management Report chapter of this Annual Report.




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report         219
Page 222
05         TATA KELOLA PERUSAHAAN
           Corporate Governance




                                                  HALIM ALAMSYAH
                                                  Anggota Komite Audit
                                                  Audit Committee Member

                                                           Kewarganegaraan                         Nationality
                                                           Warga Negara Indonesia                  Indonesian Citizen

                                                           Usia                                    Age
                                                           66 tahun                                66 years old

                                                           Domisili                                Domicile
                                                           Jakarta                                 Jakarta




     Riwayat Pendidikan                                                 Educational Background
     Sarjana Ekonomi, jurusan Manajamen Perusahaan, Fakultas Bachelor of Economics, majoring in Corporate Management,
     Ekonomi, Universitas Islam Indonesia, Yogyakarta (1980) dan Faculty of Economics, Universitas Islam Indonesia, Yogyakarta
     Sarjana Hukum, jurusan Hukum Agraria, Fakultas Hukum, (1980) and Bachelor of Law, majoring in Agrarian Law, Faculty
     Universitas Gadjah Mada (1981). Kemudian, melanjutkan of Law, Universitas Gadjah Mada (1981). Then, he continued his
     pendidikan Master of Arts in Development Economics, Boston education with a Master of Arts in Development Economics, Boston
     University, Massachussets (1985), dan Doktor Ilmu Ekonomi, University, Massachusetts (1985) and a Doctor of Economics,
     Fakultas Ekonomi, Universitas Indonesia (2008).             Faculty of Economics, Universitas Indonesia (2008).

     Riwayat Jabatan di Perseroan                                       List of Positions Held in Company
     Menjabat sebagai anggota Komite Audit sejak 14 Juni 2022 Serving as Audit Committee member since 14 June 2022,
     berdasarkan Akta Berita Acara Rapat Umum Pemegang Saham based on the Deed of Minutes of Extraordinary General
     Luar Biasa No. 56 tanggal 14 Juni 2022 dengan masa tugas Meeting of Shareholders No. 56 dated 14 June 2022 with
     sampai dengan tahun 2024. Sebelumnya, menjabat sebagai serving period up to 2024. Previously served as Independent
     Komisaris Independen dan Ketua Komite Audit Perseroan Commissioner and Audit Committee Chairman of the Company
     (Juni 2021-Oktober 2021).                                (June 2021 – October 2021).

     Pengalaman Kerja                                                   Work Experience
     Memulai karier pada berbagai jabatan di Bank Indonesia, meliputi He started his career in various positions at Bank Indonesia,
     Staf Analis Kredit, Urusan Kredit Koperasi (1982-1983), berbagai including Staff of Credit Analyst, Credit Cooperative Affairs (1982-
     jabatan di Direktorat Riset Ekonomi dan Moneter (1985-2000), 1983), multiple positions at the Directorate of Economic and
     Dewan Redaksi Majalah “Gema Korps” (1995-1998), Kepala Biro Monetary Research (1985-2000), Editorial Board of “Gema Korps”
     Gubernur Bank Indonesia (2000-2002), Editorial Board Bulletin Magazine (1995-1998), Head of Bureau of the Governor of Bank
     of Economics, Monetary, and Banking (2000-2015), Direktur Pusat Indonesia (2000-2002), Editorial Board Bulletin of Economics,
     Pendidikan dan Studi Kebanksentralan (2002), Direktur Direktorat Monetary, and Banking (2000-2015), Director of the Center for
     Riset Ekonomi dan Moneter (2003-2005), Direktur Direktorat Education and Central Banking Studies (2002), Director of the
     Perencanaan Strategis dan Hubungan Masyarakat (2005- Economic and Monetary Research Directorate (2003-2005),
     2006), Direktur Direktorat Statistik dan Moneter (2006-2007), Director of the Strategic Planning and Public Relations Directorate
     Direktur Direktorat Penelitian dan Pengaturan Perbankan (2005-2006), Director of the Statistics and Monetary Directorate
     Bank Indonesia (2007-2010), serta Deputi Gubernur Bidang (2006-2007), Director of the Banking Research and Regulation
     Pengawasan Bank, Pengendalian Moneter, dan Perkreditan Directorate of Bank Indonesia (2007-2010), and Deputy Governor of
     (2010-2015). Kemudian, menempati posisi sebagai Ketua Ikatan Bank Supervision, Monetary Control, and Credit (2010- 2015). Then,
     Sarjana Ekonomi Indonesia Jakarta Raya (2010-2020) dan Ketua he served as Chairman of the Greater Jakarta Indonesian Economic
     Dewan Komisioner Lembaga Penjamin Simpanan (2015-2020). Bachelors Association (2010-2020) and Chairman of the Board of
                                                                      Commissioners of the Deposit Insurance Corporation (2015-2020).

     Rangkap Jabatan                                                    Concurrent Position
     Pengurus Pusat Ikatan Sarjana Ekonomi Indonesia (sejak 2005) Central Board of the Indonesian Bachelor of Economics Association
     dan Editorial Board Journal of Islamic, Monetary, Economics, and (since 2005) and the Editorial Board of the Journal of Islamic,
     Finance Bank Indonesia (sejak 2020).                             Monetary, Economics, and Finance of Bank Indonesia (since 2020).

     Hubungan Afiliasi                                                  Affiliation Relationship
     Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationships with
     dengan anggota Dewan Komisaris, Direksi, serta Pemegang Saham the members of the Board of Commissioners, Board of Directors,
     Utama dan Pengendali.                                            and Main and Controlling Shareholders.




           Laporan Tahunan 2023
220        2023 Annual Report
Page 223
                                                                                        PT SINAR MAS MULTIARTHA TBK




                                                    NURHAIDA
                                                    Anggota Komite Audit
                                                    Audit Committee Member

                                                             Kewarganegaraan                         Nationality
                                                             Warga Negara Indonesia                  Indonesian Citizen

                                                             Usia                                    Age
                                                             64 tahun                                64 years old

                                                             Domisili                                Domicile
                                                             Jakarta                                 Jakarta




       Riwayat Pendidikan                                                 Educational Background
       Sarjana Kimia Tekstil Institut Teknologi Tekstil Bandung (1985) dan Bachelor of Textile Chemistry, Institut Teknologi Tekstil Bandung
       Master Business Administration Indiana University, Bloomington, (1985) and Master Business Administration, Indiana University,
       United States (1995).                                               Bloomington, United States (1995).

       Riwayat Jabatan di Perseroan                                       List of Positions Held in Company
       Menjabat sebagai anggota Komite Audit sejak 27 Juni 2023 Serving as Audit Committee member since 27 June 2023, based on the
       berdasarkan Akta Berita Acara Rapat Umum Pemegang Saham Deed of Minutes of Extraordinary General Meeting of Shareholders
       Luar Biasa No. 130 tanggal 27 Juni 2023 dengan masa tugas No. 130 dated 27 June 2023 with serving period up to 2024.
       sampai dengan tahun 2024.

       Pengalaman Kerja                                                   Work Experience
       Beliau memulai karier di Badan Pengawas Pasar Modal dan Started her career at the Capital Market and Financial
       Lembaga Keuangan (Bapepam-LK) melalui sejumlah jabatan Institutions Supervisory Agency (Bapepam-LK) through several
       (1989-2006), Kepala Biro Penilaian Keuangan Perusahaan Sektor positions (1989-2006), Head of Real Sector Companies Financial
       Riil (2006-2008), dan Kepala Biro Transaksi dan Lembaga Efek Assessment Bureau (2006-2008), and Head of Transaction Bureau
       (2008-2011). Kemudian, beliau melanjutkan karier sebagai Staf and Securities Institution (2008-2011). Then, she continued her
       Ahli Bidang Kebijakan dan Regulasi Jasa Keuangan dan Pasar career as Expert Staff of Policies and Regulations of the Financial
       Modal Kementerian Keuangan Republik Indonesia (2011). Services and Capital Market, Ministry of Finance of the Republic
       Selanjutnya, menjabat sebagai Pelaksana Tugas Ketua Badan of Indonesia (2011). Next, she served as Acting Chair of the
       Pengawas Pasar Modal (2011), Ketua Badan Pengawas Pasar Capital Market Supervisory Agency (2011), Head of Capital Market
       Modal (2011-2012), Kepala Eksekutif Pengawas Pasar Modal Supervisory Agency (2011-2012), Chief Executive of Capital
       (2012-2017), dan Wakil Ketua Dewan Komisioner Otoritas Jasa Market Supervision (2012-2017), and Deputy Chair of the Board
       Keuangan (2017-2022).                                         of Commissioners of Financial Services Authority (2017-2022).

       Rangkap Jabatan                                                    Concurrent Position
       Tidak memiliki rangkap jabatan di perusahaan lain.                 Does not have any concurrent position in other companies.

       Hubungan Afiliasi                                                  Affiliation Relationship
       Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationships with
       dengan anggota Dewan Komisaris, Direksi, serta Pemegang Saham the members of the Board of Commissioners, Board of Directors,
       Utama dan Pengendali.                                            and Main and Controlling Shareholders.




Independensi                                                             Independence
Seluruh anggota Komite Audit tidak memiliki hubungan                     All Audit Committee members have no affiliation relationship
afiliasi dengan Dewan Komisaris, Direksi, maupun Pemegang                with the Company’s Board of Commissioners, Board of
Saham Perseroan. Dalam menjalankan fungsinya, Komite                     Directors, or Shareholders. In carrying out its function, the
Audit juga tidak memiliki benturan kepentingan pribadi dan               Audit Committee also has no personal conflict of interest
sedang tidak di bawah tekanan dari pihak manapun. Anggota                and is not under pressure from any party. Members of
Komite Audit Perseroan merupakan pihak independen                        the Company’s Audit Committee are independent parties,
yang melaksanakan tugas dan tanggung jawabnya secara                     carrying out their duties and responsibilities professionally
profesional dan independen.                                              and independently.




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report            221
Page 224
05                   TATA KELOLA PERUSAHAAN
                     Corporate Governance




Pelaksanaan Tugas dan                                                                       Implementation of Duties and
Tanggung Jawab                                                                              Responsibilities

Pelaksanaan tugas dan tanggung jawab Komite Audit selama                                    The implementation of duties and responsibilities of the
tahun 2023 diungkapkan sebagai berikut.                                                     Audit Committee throughout 2023 are disclosed as follows.
1. Mengawasi dan mengevaluasi pelaksanaan audit                                             1. To monitor and evaluate the implementation of Financial
    Laporan Keuangan oleh kantor akuntan publik;                                               Report audit by the public accounting firm;
2. Memberikan rekomendasi terkait penunjukan kantor                                         2. To provide recommendations related to the appointment
    akuntan publik; serta                                                                      of a public accounting firm; and
3. Mengawasi dan menelaah ketaatan penerapan                                                3. To monitor and examine the compliance of the laws and
    peraturan perundang-undangan dan praktik GCG.                                              regulations implementation and GCG practices.



Rapat                                                                                       Meeting

Komite Audit wajib mengadakan rapat internal minimal                                        The Audit Committee is required to hold an internal
sekali dalam 3 bulan. Pengambilan keputusan dalam                                           meeting at least once every 3 months. Decision made in
rapat menggunakan asas musyawarah mufakat. Apabila                                          the meeting using the deliberation to reach consensus
musyawarah mufakat tidak tercapai, maka keputusan akan                                      principle. If it yields no consensus, then decision
diambil melalui voting. Adapun tingkat kehadiran Komite                                     will be made through voting. The attendance rate of
Audit dalam rapat di sepanjang tahun 2023 diungkapkan                                       the Audit Committee in meetings throughout 2023
sebagai berikut.                                                                            is disclosed as follows.


                                                                                                                                               Tingkat Kehadiran
                Nama                            Jabatan                       Jumlah Rapat                        Kehadiran
                                                                                                                                                Attendance Rate
                Name                            Position                      Total Meeting                       Attendance
                                                                                                                                                      (%)

                                                 Ketua
     Robinson Simbolon                                                                 4                                 4                                100.00
                                                Chairman

                                                 Anggota
     Halim Alamsyah                                                                    4                                 4                                100.00
                                                 Member

                                                 Anggota
     Nurhaida*)                                                                        4                                 4                                100.00
                                                 Member

*)
     Efektif menjabat sejak ditutupnya RUPS Luar Biasa pada 27 Juni 2023. / Effectively serving since the closing of Extraordinary GMS on 27 June 2023.




Pengembangan Kompetensi                                                                     Competency Development

Perseroan mengikutsertakan Komite Audit dalam seminar,                                      The Company involves the Audit Committee in seminars,
pelatihan, serta pengembangan kompetensi lainnya yang                                       trainings, and other competency development, held
dilaksanakan secara internal maupun eksternal. Program                                      internally or externally. The competency development
pengembangan kompetensi yang diikuti Komite Audit                                           program joined by the Audit Committee throughout 2023 is
selama tahun 2023 diungkapkan sebagai berikut.                                              disclosed as follows.


        Nama           Jabatan              Program Pengembangan Kompetensi                                    Penyelenggara                  Waktu dan Tempat
        Name           Position              Competency Development Program                                      Organizer                     Time and Venue

     Robinson           Ketua         Pengembangan kompetensi dapat dilihat pada bagian Pengembangan Kompetensi Dewan Komisaris.
     Simbolon          Chairman       Competency Development can be seen in the Competency Development of Board of Commissioners section.

                        Anggota        Refreshment Class for Risk Management Certificate                       GPS & Partners –                       Jakarta,
     Nurhaida
                        Member        Entitled “Digital Transformation: Challenges and Risk”                   Consulting Group                   25 October 2023




                     Laporan Tahunan 2023
       222           2023 Annual Report
Page 225
                                                                         PT SINAR MAS MULTIARTHA TBK




Komite Nominasi dan Remunerasi
Nomination and Remuneration Committee

Komite Nominasi dan Remunerasi merupakan organ             Nomination and Remuneration Committee is a supporting
pendukung Dewan Komisaris yang bertanggung jawab           organ of the Board of Commissioners responsible in
dalam mendukung efektivitas pelaksanaan kebijakan          supporting the effectiveness of the implementation of
nominasi dan remunerasi sesuai dengan Anggaran Dasar       nomination and remuneration policy according to Company’s
Perseroan dan peraturan yang berlaku.                      Articles of Association and applicable regulations.



Pedoman Kerja                                              Guidelines

Perseroan telah menyusun Piagam Nominasi dan Remunerasi    The Company has prepared the Nomination and
dan memutakhirkannya pada tanggal 12 Juni 2020.            Remuneration Charter and updated it on 12 June 2020.
Piagam Komite Nominasi dan Remunerasi memuat               The Nomination and Remuneration Charter contained the
informasi mengenai:                                        following information:
1. Pendahuluan;                                            1. Introduction;
2. Ketentuan Umum; serta                                   2. General Provisions; and
3. Kode Etik, Prosedur Kerja, dan Pelaporan.               3. Code of Ethics, Work Procedures, and Reporting.



Tugas dan Tanggung Jawab                                   Duties and Responsibilities

Komite Nominasi dan Remunerasi memiliki tugas dan          The Nomination and Remuneration Committee has the
tanggung jawab sebagai berikut.                            following duties and responsibilities.
1. Terkait Fungsi Nominasi                                 1. Related to the Nomination Function
   a. Menyusun dan memberikan rekomendasi mengenai              a. Prepare and recommend the system and procedure
       sistem serta prosedur pemilihan dan/atau                    for selecting and/or replacing members of the Board
       penggantian anggota Dewan Komisaris dan anggota             of Commissioners and members of the Board of
       Direksi kepada Dewan Komisaris untuk disampaikan            Directors to the Board of Commissioners to be
       kepada RUPS;                                                submitted to the GMS;
   b. Memberikan rekomendasi mengenai calon anggota             b. Recommend prospective members of Board of
       Dewan Komisaris dan/atau calon anggota Direksi              Commissioners and/or members of Board of
       kepada Dewan Komisaris untuk disampaikan kepada             Directors to the Board of Commissioners to be
       RUPS;                                                       submitted to the GMS;
   c. Memberikan       rekomendasi     mengenai    pihak        c. Recommend independent parties who will become
       independen yang akan menjadi anggota Komite                 members of the Audit Committee to the Board of
       Audit kepada Dewan Komisaris;                               Commissioners;
   d. Membantu Dewan Komisaris melakukan penilaian              d. Assist the Board of Commissioners in assessing the
       kinerja anggota Dewan Komisaris dan/atau anggota            performance of members of the Board of Commissioners
       Direksi berdasarkan tolok ukur yang telah disusun           and/or members of the Board of Directors based on the
       sebagai bahan evaluasi;                                     set benchmarks as evaluation material;
   e. Memberikan rekomendasi kepada Dewan Komisaris             e. Recommend competency development program for
       mengenai program pengembangan kemampuan                     members of the Board of Commissioners and/or the
       anggota Dewan Komisaris dan/atau Direksi;                   Board of Directors to the Board of Commissioners;
   f. Memberikan rekomendasi kepada Dewan Komisaris             f. Provide recommendations to the Board of
       mengenai:                                                   Commissioners regarding:
       1) Komposisi jabatan anggota Dewan Komisaris                1) Position composition of members of the Board
           dan/atau anggota Direksi;                                   of Commissioners and/or Board of Directors;
       2) Kebijakan dan kriteria yang dibutuhkan dalam             2) Policies and criteria required in the nomination
           proses nominasi; serta                                      process; and
       3) Kebijakan evaluasi kinerja bagi anggota Dewan            3) Performance evaluation policy for members of the
          Komisaris dan/atau anggota Direksi.                         Board of Commissioners and/or Board of Directors.




                                                                                  Laporan Tahunan 2023
                                                                                     2023 Annual Report        223
Page 226
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




2. Terkait Fungsi Remunerasi                                           2. Related to the Remuneration Function
   a. Mengevaluasi kebijakan remunerasi yang didasarkan                   a. Conduct evaluation on the remuneration policies
      atas kinerja, risiko, kewajaran dengan peer group, sasaran              based on performance, risk, fairness with peer
      dan strategi jangka panjang, pemenuhan cadangan                         groups, long-term goals and strategies, fulfillment of
      sebagaimana diatur di peraturan perundang-undangan                      reserves as stipulated in laws and regulations, and
      dan potensi pendapatan pada masa yang akan datang;                      potential future income;
   b. Menyampaikan hasil evaluasi dan rekomendasi                         b. Submit the evaluation results and recommendations
      kepada Dewan Komisaris mengenai:                                        to the Board of Commissioners regarding:
      1) Kebijakan remunerasi bagi Direksi dan Dewan                          1) Remuneration policies for the Board of Directors
           Komisaris untuk disampaikan kepada RUPS;                               and Board of Commissioners to be submitted to
                                                                                  the GMS;
       2) Kebijakan remunerasi bagi pegawai secara                            2) Remuneration policies for employees as a whole
           keseluruhan untuk disampaikan kepada Direksi;                          to be submitted to the Board of Directors;
    c. Memastikan bahwa kebijakan remunerasi telah                        c. Ensure that the remuneration policies comply with
       sesuai dengan ketentuan yang berlaku;                                  the applicable regulations;
    d. Melakukan evaluasi secara berkala terhadap penerapan               d. Conduct periodic evaluations on the implementation
       kebijakan remunerasi; serta                                            of remuneration policies; and
    e. Melakukan koordinasi dengan Satuan Kerja Manajemen                 e. Coordinate with Risk Management Work Unit in
       Risiko dalam menetapkan kebijakan remunerasi yang                      establishing a variable remuneration policy.
       bersifat variabel.


Anggota Komite Nominasi dan Remunerasi yang memiliki                   Members of the Nomination and Remuneration Committee
benturan kepentingan dengan usulan yang direkomendasikan               who have a conflict of interest with the recommended
wajib mengungkapkan dalam usulan yang direkomendasikan.                proposal must disclose it in the recommended proposal.


Selain itu, Komite Nominasi dan Remunerasi dalam menjalankan           In carrying out its duties and responsibilities, the Nomination
tugas dan tanggung jawabnya memiliki wewenang untuk:                   and Remuneration Committee has the authority to:
1. Memperoleh dokumen, data, dan informasi tentang                     1. Obtain the required documents, data, and information
    Perseroan yang diperlukan;                                             about the Company;
2. Melakukan koordinasi dengan Human Capital Management                2. Coordinate with Human Capital Management or other
    atau unit kerja lainnya apabila diperlukan; serta                      work units, if required; and
3. Melakukan kewenangan lain yang diberikan Dewan                      3. Perform other authorities granted by the Board of
    Komisaris terkait remunerasi dan nominasi.                             Commissioners related to remuneration and nomination.



Komposisi dan Independensi                                             Composition and Independence

Komposisi                                                              Composition
Komite Nominasi dan Remunerasi Perseroan terdiri                       The Company’s Nomination and Remuneration Committee
dari 3 anggota dengan dikepalai oleh seorang Komisaris                 consists of 3 members, chaired by an Independent
Independen Perseroan. Komposisi dan profil Komite                      Commissioner of the Company. The composition and profile
Nominasi dan Remunerasi Perseroan per 31 Desember 2023                 of the Company’s Nomination and Remuneration Committee
sebagai berikut.                                                       as of 31 December 2023 is as follows.



                                                      Robinson Simbolon

                                             Ketua Komite Nominasi dan Remunerasi
                                        Nomination and Remuneration Committee Chairman

         Periode dan Dasar Pengangkatan                                   Period of Service and Basis of Appointment
         Sejak 14 Juli 2020, berdasarkan Surat Penunjukan Komite          Since 14 July 2020, based on the Appointment Letter of the
         Nominasi dan Remunerasi PT Sinar Mas Multiartha Tbk              Nomination and Remuneration Committee of PT Sinar Mas
         No. 002/SK/SMMA/VII/2020 dengan masa tugas tidak lebih lama      Multiartha Tbk No. 002/SK/SMMA/VII/2020 with a term of office
         dari masa jabatan Dewan Komisaris sebagaimana diatur dalam       not to exceed the term of office of the Board of Commissioners
         Anggaran Dasar.                                                  as stipulated in the Articles of Association.
 Profil dapat dilihat pada bagian Profil Dewan Komisaris di bab Laporan Manajemen dalam Laporan Tahunan ini.
 His profile can be seen in the Board of Commissioners’ Profile under the Management Report chapter of this Annual Report.




              Laporan Tahunan 2023
  224         2023 Annual Report
Page 227
                                                                                 PT SINAR MAS MULTIARTHA TBK




                                             INDRA WIDJAJA
                                             Anggota Komite Nominasi dan Remunerasi
                                             Nomination and Remuneration Committee Member

                                                      Kewarganegaraan                        Nationality
                                                      Warga Negara Indonesia                 Indonesian Citizen

                                                      Usia                                   Age
                                                      71 tahun                               71 years old

                                                      Domisili                               Domicile
                                                      Jakarta                                Jakarta




Riwayat Pendidikan                                                Educational Background
Bachelor of Commerce jurusan Industrial and Business Administration, Bachelor of Commerce in Industrial and Business Administration,
Universitas Nanyang, Singapura (1974).                               Nanyang University, Singapore (1974).

Riwayat Jabatan di Perseroan                                      List of Positions Held in Company
Menjabat sebagai anggota Komite Nominasi dan Remunerasi Served as a member of the Nomination and Remuneration Committee
sejak 14 Juli 2020 berdasarkan Surat Penunjukan Komite since 14 July 2020 based on the Letter of Appointment of the Nomination
Nominasi dan Remunerasi PT Sinar Mas Multiartha Tbk and Remuneration Committee of PT Sinar Mas Multiartha Tbk
No. 002/SK/SMMA/VII/2020 dengan masa tugas tidak lebih lama No. 002/SK/SMMA/VII/2020 with a term of office not to exceed the
dari masa jabatan Dewan Komisaris sebagaimana diatur dalam term of office of the Board of Commissioners as stipulated in the
Anggaran Dasar. Sebelumnya, dipercaya untuk menjadi Komisaris Articles of Association. Previously, he was appointed as Commissioner
(1982-2001) dan Komisaris Utama (2001-Juni 2023).             (1982-2001) and President Commissioner (2001-June 2023).

Pengalaman Kerja                                                  Work Experience
Memulai karier profesional sebagai Direktur PT Bimoli dan Started his professional career as Director of PT Bimoli and
PT Witikco (1974-1982). Kemudian, dipercaya oleh PT Bank PT Witikto (1974-1982). He then joined PT Bank Internasional
Internasional Indonesia Tbk untuk menjadi Wakil Presiden Indonesia Tbk as Vice President Director (1982-1989) and
Direktur (1982-1989) dan Presiden Direktur (1989-Agustus 1999). President Director (1989-August 1999). In addition, he also held
Selain itu, pernah juga menduduki posisi penting di beberapa various key positions at the Subsidiaries; Commissioner of
Entitas Anak, yaitu Komisaris PT MSIG Life Insurance PT MSIG Life Insurance Indonesia Tbk (formerly PT Asuransi Jiwa
Indonesia Tbk (dahulu PT Asuransi Jiwa Sinarmas MSIG Tbk) Sinarmas MSIG Tbk) (1984-2006), Vice President Commissioner of
(1984-2006), Wakil Komisaris Utama PT Asuransi Sinar Mas PT Asuransi Sinar Mas (1984-July 2003), Vice President
(1984-Juli 2003), Wakil Komisaris Utama PT Sinartama Gunita Commissioner of PT Sinarmas Gunita (1999-2002), President
(1999-2002), Komisaris Utama PT Sinarmas Sekuritas (1999-2021), Commissioner of PT Sinarmas Sekuritas (1999-2021), President
Komisaris Utama PT Asuransi Sinar Mas (Juli 2003-2004), Commissioner of PT Asuransi Sinar Mas (July 2003-2004), and
serta Direktur Utama PT Asuransi Sinar Mas (2005-2013).         President Director of PT Asuransi Sinar Mas (2005-2013).

Rangkap Jabatan                                                   Concurrent Position
Komisaris Utama di beberapa Entitas Anak, yakni PT KB President Commissioner in several Subsidiaries, PT KB
Insurance (sejak 1997), PT Sinartama Gunita (sejak 2002), PT Insurance (since 1997), PT Sinartama Gunita (since 2002), PT
Sinar Mas Multifinance (sejak 2004), PT MSIG Life Insurance Sinar Mas Multifinance (since 2004), PT MSIG Life Insurance
Indonesia Tbk (dahulu PT Asuransi Jiwa Sinarmas MSIG Tbk) Indonesia Tbk (formerly PT Asuransi Jiwa Sinarmas MSIG Tbk)
(sejak 2007), PT AB Sinar Mas Multifinance (sejak 2009), dan (since 2007), PT AB Sinar Mas Multifinance (since 2009), and
PT Asuransi Sinar Mas (sejak 2013).                          PT Asuransi Sinar Mas (since 2013).

Hubungan Afiliasi                                                 Affiliation Relationship
Memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has financial, management, and family relationship with the
dengan anggota Dewan Komisaris lainnya, serta Pemegang other member of the Board of Commissioners, as well as with the
Saham Utama dan Pengendali.                                Main and Controlling Shareholders.




                                                                                           Laporan Tahunan 2023
                                                                                              2023 Annual Report           225
Page 228
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




                                                    HERRY HERMANA S
                                                    Anggota Komite Nominasi dan Remunerasi
                                                    Nomination and Remuneration Committee Member

                                                             Kewarganegaraan                         Nationality
                                                             Warga Negara Indonesia                  Indonesian Citizen

                                                             Usia                                    Age
                                                             67 tahun                                67 years old

                                                             Domisili                                Domicile
                                                             Bekasi                                  Bekasi




       Riwayat Pendidikan                                                 Educational Background
       Lulusan Akademi Bank Pembangunan jurusan Perbankan (1980) Graduated from Akademi Bank Pembangunan majoring in Banking
       dan Sarjana Ekonomi, Universitas Kertanegara (2003).      (1980) and Bachelor of Economics from Universitas Kertanegara
                                                                 (2003).

       Riwayat Jabatan di Perseroan                                       List of Positions Held in Company
       Menjabat sebagai anggota Komite Nominasi dan Remunerasi Served as Nomination and Remuneration Committee member
       sejak 14 Juli 2020 berdasarkan Surat Penunjukan Komite since 14 July 2020 based on the Appointment Letter of
       Nominasi dan Remunerasi PT Sinar Mas Multiartha Tbk PT Sinar Mas Multiartha Tbk Nomination and Remuneration
       No. 002/SK/SMMA/VII/2020 dengan masa tugas tidak lebih lama Committee No. 002/SK/SMMA/VII/2020 with a term of office not
       dari masa jabatan Dewan Komisaris sebagaimana diatur dalam to exceed the term of office of the Board of Commissioners as
       Anggaran Dasar. Sebelumnya, beliau pernah menjabat sebagai stipulated in the Articles of Association. Previously, he worked as
       Accounting & Tax (1989-1996).                               Accounting & Tax (1989-1996).

       Pengalaman Kerja                                                   Work Experience
       Mengawali karier sebagai Staf (1981-1983), Trainer (1983-1984), dan Started his career as Staff (1981-1983), Trainer (1983-1984), and
       Officer (1984-1985) di PT Bank International Indonesia Tbk. Kemudian Officer (1984-1985) at PT Bank Internasional Indonesia Tbk. Then
       menjabat sebagai Accounting di PT Internas Artha Leasing Co worked as Accounting at PT Internas Artha Leasing Co (1985-
       (1985-1989). Beliau juga pernah menjabat sebagai HR Head PT 1989). He has also served as HR Head at PT Sinar Mas Multifinance
       Sinar Mas Multifinance (1996-2011).                                  (1996-2011).

       Rangkap Jabatan                                                    Concurrent Position
       Saat ini, beliau menjabat sebagai Komisaris Independen di He served as Independent Commissioner at PT Sinarmas Hana
       PT Sinarmas Hana Finance dan PT AB Sinar Mas Multifinance Finance and PT AB Sinar Mas Multifinance (since 2017).
       (sejak 2017).

       Hubungan Afiliasi                                                  Affiliation Relationship
       Tidak memiliki hubungan keuangan, kepengurusan, dan kekeluargaan He has no financial, management, and family relationships with
       dengan anggota Dewan Komisaris, Direksi, serta Pemegang Saham the members of the Board of Commissioners, Board of Directors,
       Utama dan Pengendali.                                            and Main and Controlling Shareholders.




Independensi                                                             Independence
Seluruh anggota Komite Nominasi dan Remunerasi tidak                     All members of the Nomination and Remuneration
memiliki hubungan afiliasi dengan Dewan Komisaris, Direksi,              Committee have no affiliation relationship with the
maupun Pemegang Saham Perseroan. Dalam menjalankan                       Company’s Board of Commissioners, Board of Directors, or
fungsinya, Komite Nominasi dan Remunerasi juga tidak                     Shareholders. In carrying out its function, the Nomination
memiliki benturan kepentingan pribadi dan sedang tidak                   and Remuneration Committee also has no personal conflict
di bawah tekanan dari pihak manapun. Anggota Komite                      of interest and is not under pressure from any party.
Nominasi dan Remunerasi Perseroan merupakan pihak                        Members of the Company’s Nomination and Remuneration
independen yang melaksanakan tugas dan tanggung                          Committee are independent parties, carrying out their duties
jawabnya secara profesional dan independen.                              and responsibilities professionally and independently.




             Laporan Tahunan 2023
  226        2023 Annual Report
Page 229
                                                                                  PT SINAR MAS MULTIARTHA TBK




Pelaksanaan Tugas dan                                               Implementation of Duties and
Tanggung Jawab                                                      Responsibilities

Sepanjang tahun 2023, Komite Nominasi dan Remunerasi                Throughout 2023, the Nomination and Remuneration
telah melaksanakan tugas dan tanggung jawabnya terkait              Committee has carried out its duties and responsibilities
fungsi nominasi dan remunerasi Perseroan. Melalui rapat             related to the Company’s nomination and remuneration
internal, Komite Nominasi dan Remunerasi telah menentukan           function. Through internal meeting, the Nomination and
besaran remunerasi yang layak untuk diberikan kepada                Remuneration Committee has determined the appropriate
anggota Dewan Komisaris dan Direksi dan telah mendapat              remuneration amount to be given to members of the Board
persetujuan dari Pemegang Saham melalui mekanisme                   of Commissioners and Board of Directors and has been
RUPS. Selain itu, Komite Nominasi dan Remunerasi juga               approved by Shareholders through the GMS mechanism.
memberikan rekomendasi terkait pengangkatan Fuganto                 In addition, the Nomination and Remuneration Committee
Widjaja sebagai Komisaris Utama serta Dani Lihardja sebagai         also recommended the appointment of Fuganto Widjaja
Komisaris Perseroan yang baru.                                      as President Commissioner and Dani Lihardja as the new
                                                                    Commissioner of the Company.



Rapat                                                               Meeting

Komite Nominasi dan Remunerasi wajib mengadakan                     The Nomination and Remuneration Committee is required
rapat internal minimal 1 kali dalam 4 bulan. Adapun tingkat         to hold internal meeting at least once every 4 months.
kehadiran Komite Nominasi dan Remunerasi dalam rapat di             The attendance rate of Nomination and Remuneration
sepanjang tahun 2023 diungkapkan sebagai berikut.                   Committee in meetings throughout 2023 is disclosed as
                                                                    follows.

                                                                                                          Tingkat Kehadiran
           Nama                    Jabatan                Jumlah Rapat              Kehadiran
                                                                                                           Attendance Rate
           Name                    Position               Total Meeting             Attendance
                                                                                                                 (%)

                                    Ketua
 Robinson Simbolon                                              4                         4                      100.00
                                   Chairman
                                   Anggota
 Indra Widjaja                                                  4                         4                      100.00
                                   Member
                                   Anggota
 Herry Hermana S                                                4                         4                      100.00
                                   Member




Pengembangan Kompetensi                                             Competency Development

Perseroan mengikutsertakan Komite Nominasi dan                      The Company involves Nomination and Remuneration
Remunerasi dalam seminar, pelatihan, serta pengembangan             Committee in seminars, trainings, and other competency
kompetensi lainnya yang dilaksanakan secara internal                development, held internally or externally. The competency
maupun eksternal. Program pengembangan kompetensi                   development program joined by Nomination and
yang diikuti Komite Nominasi dan Remunerasi selama tahun            Remuneration Committee throughout 2023 is disclosed as
2023 diungkapkan sebagai berikut.                                   follows.


   Nama          Jabatan        Program Pengembangan Kompetensi                    Penyelenggara          Waktu dan Tempat
   Name          Position        Competency Development Program                      Organizer             Time and Venue

 Robinson         Ketua     Pengembangan kompetensi dapat dilihat pada bagian Pengembangan Kompetensi Dewan Komisaris.
 Simbolon        Chairman   Competency Development can be seen in the Competency Development of Board of Commissioners section.

                                Seminar Nasional Pembiayaan Mikro dan             Asosiasi Perusahaan
 Indra           Anggota                  SDM di Era Society 5.0                Pembiayaan Indonesia             Jakarta,
 Widjaja         Member         National Seminar Micro Financing and HR          Indonesian Financing         3 March 2023
                                          in the Society 5.0 Era                Companies Association

                                Seminar Nasional Tantangan Pembiayaan             Asosiasi Perusahaan
 Herry           Anggota                 di Tengah Tahun Politik                Pembiayaan Indonesia              Jakarta,
 Hermana S       Member         National Seminar on Financing Challenges         Indonesian Financing        31 January 2023
                                        Amidst the Political Year               Companies Association




                                                                                              Laporan Tahunan 2023
                                                                                                 2023 Annual Report       227
Page 230
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




Sekretaris Perusahaan
Corporate Secretary

Sekretaris Perusahaan merupakan salah satu organ pendukung     The Corporate Secretary is one of the supporting organs of the
Direksi yang berperan penting dalam menjembatani komunikasi    Board of Directors playing an important role in bridging the
antar organ Perseroan, hubungan antara Perseroan dengan        communications between the Company’s organs, between
Pemegang Saham, regulator, dan pemangku kepentingan            the Company and its Shareholders, regulators, and other
lainnya serta memastikan kepatuhan Perseroan terhadap          stakeholders, while ensuring the Company’s compliance
peraturan perundang-undangan di bidang pasar modal.            with laws and regulations in the capital market sector.



Pedoman Kerja                                                  Guidelines

Pelaksanaan tugas dan tanggung jawab Sekretaris Perusahaan     The Corporate Secretary carries out the duties and
mengacu kepada Peraturan Otoritas Jasa Keuangan                responsibilities based on the Financial Services Authority
No. 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten       Regulation No. 35/POJK.04/2014 on Corporate Secretary of
atau Perusahaan Publik.                                        Issuers or Public Companies.



Tugas dan Tanggung Jawab                                       Duties and Responsibilities

Sekretaris Perusahaan memiliki tugas dan tanggung jawab        The Corporate Secretary has the following duties and
sebagai berikut.                                               responsibilities:
1. Mengikuti perkembangan pasar modal, khususnya peraturan     1. Follow the development of the capital market, particularly
   perundang-undangan yang berlaku di pasar modal;                 with the prevailing capital market laws and regulations;
2. Memberikan masukan kepada Dewan Komisaris dan               2. Provide input to the Board of Commissioners and Board
   Direksi untuk mematuhi ketentuan peraturan perundang-           of Directors to comply with the prevailing laws and
   undangan;                                                       regulations;
3. Membantu Dewan Komisaris dan Direksi dalam                  3. To assist the Board of Commissioners and Board of
   melaksanakan tata kelola perusahaan terkait:                    Directors in carrying out corporate governance related to:
   a. Keterbukaan informasi kepada masyarakat;                     a. Disclosure of information to the public;
   b. Penyampaian laporan kepada Otoritas Jasa Keuangan            b. Timely report submission to the Financial Services
       secara tepat waktu;                                             Authority;
   c. Penyelenggaraan dan dokumentasi rapat Direksi                c. Implementation and documentation of Board of
       dan Dewan Komisaris, serta RUPS;                                Directors, Board of Commissioners, and GMS;
   d. Pelaksanaan program orientasi perusahaan bagi                d. Implementation of company’s orientation program for
       Direksi dan Dewan Komisaris; serta                              the Board of Directors and Board of Commissioners;
                                                                       and
4. Menghubungkan Perseroan dengan seluruh pemangku             4. To serve as a liaison between the Company and all
   kepentingan.                                                    stakeholders.



Profil Sekretaris Perusahaan                                   Corporate Secretary Profile

Perseroan telah menunjuk Felix sebagai Sekretaris Perseroan    The Company has appointed Felix as the Corporate Secretary
sejak 3 Juli 2023 berdasarkan Surat Keputusan Direksi          since 3 July 2023 based on Board of Directors Decree
No. SK: 115/SK-DIR/SMMA/VII/2023, dengan masa jabatan          No. SK: 115/SK-DIR/SMMA/VII/2023, with a period of service
yang akan ditinjau berdasarkan evaluasi Direksi. Informasi     to be reviewed based on Board of Directors’ evaluation.
terkait Profil Sekretaris Perusahaan dapat dilihat di bagian   The Profile of the Corporate Secretary can be seen in the
Profil Direksi dalam bab Laporan Manajemen dalam               Board of Directors Profile section under the Management
Laporan Tahunan ini.                                           Report chapter of this Annual Report.




             Laporan Tahunan 2023
  228        2023 Annual Report
Page 231
                                                                             PT SINAR MAS MULTIARTHA TBK




Pelaksanaan Tugas dan                                          Implementation of Duties and
Tanggung Jawab                                                 Responsibilities

Pelaksanaan tugas dan tanggung jawab Sekretaris                The implementation of duties and responsibilities of the
Perusahaan selama tahun 2023 diungkapkan sebagai berikut.      Corporate Secretary throughout 2023 are disclosed as follows.
1. Persiapan dan pelaksanaan RUPS.                             1. Preparation and execution of the Annual General Meeting
                                                                  of Shareholders (RUPS).
2. Penyampaian keterbukaan informasi kepada publik dan         2. Disclosure of information to public and fostering good
   menjalin hubungan baik dengan para Pemegang Saham,             relations with Shareholders, regulators, business partners,
   regulator, mitra usaha, dan pemangku kepentingan lainnya.      and other stakeholders.
3. Review dan sosialisasi peraturan perundang-undangan         3. Review and dissemination of prevailing laws and
   dan peraturan pasar modal yang berlaku.                        regulations and capital market regulations.



Program Orientasi Dewan Komisaris dan                          Orientation Program for the Board of
Direksi                                                        Commissioners and Board of Directors

Sekretaris Perusahaan memiliki tanggung jawab untuk            The Corporate Secretary is responsible to organize the
menyelenggarakan program orientasi bagi anggota Dewan          orientation program for members of the Board of
Komisaris dan Direksi yang baru pertama kali menjabat.         Commissioners and Board of Directors serving for the first
Pelaksanaan program orientasi tersebut bertujuan untuk         time. The orientation program is implemented to introduce
memperkenalkan dan memberikan pemahaman terkait                and provide understanding about the Company’s internal
kondisi internal Perseroan. Program orientasi dilaksanakan     condition. The orientation program is hosted parallel with
bersamaan dengan pelaksanaan rapat gabungan Dewan              the joint meeting of Board of Commissioners and Board
Komisaris dan Direksi. Pada tahun 2023, program orientasi      of Directors. In 2023, the orientation program was held
diberikan kepada Fuganto Widjaja sebagai Komisaris Utama       for Fuganto Widjaja as the President Commissioner and
dan Dani Lihardja sebagai Komisaris Perseroan yang baru.       Dani Lihardja as the new Commissioner of the Company.



Pengembangan Kompetensi                                        Competency Development

Pengembangan kompetensi yang diikuti Felix selaku Sekretaris   Competency Development joined by Felix as the Corporate
Perusahaan di sepanjang tahun 2023 telah diungkapkan pada      Secretary throughout 2023 has been disclosed in the description
uraian Pengembangan Kompetensi Direksi.                        of Competency Development of the Board of Directors.




                                                                                       Laporan Tahunan 2023
                                                                                          2023 Annual Report         229
Page 232
05             TATA KELOLA PERUSAHAAN
               Corporate Governance




Unit Audit Internal
Internal Audit Unit

Unit Audit Internal merupakan unit kerja yang menjalankan tugas          The Internal Audit Unit is a work unit running the duties and
dan tanggung jawab dalam melaksanakan pemeriksaan dan                    responsibilities of examining and assessing the efficiency
penilaian efisiensi dan efektivitas di bidang operasional, keuangan,     and effectiveness in the operational, financial, accounting,
akuntansi, sumber daya manusia, dan kegiatan lainnya.                    human resources sector, and other activities.



Pedoman Kerja                                                            Guidelines

Perseroan telah menyusun Piagam Audit Internal dan                       The Company has drafted an Internal Audit Charter and
memutakhirkannya berdasarkan No. 209A/SMMA/XII/2023                      updated it based on No. 209A/SMMA/XII/2023 dated
tanggal 1 Januari 2024. Piagam Audit Internal memuat                     1 January 2024. The Internal Audit Charter includes
informasi mengenai:                                                      information regarding:
1. Maksud dan tujuan;                                                    1. Purpose and objectives;
2. Ruang lingkup kegiatan;                                               2. Scope of activities;
3. Struktur dan keanggotaan;                                             3. Structure and membership;
4. Persyaratan Auditor Internal;                                         4. Internal Auditor requirements;
5. Tugas dan tanggung jawab;                                             5. Duties and responsibilities;
6. Wewenang;                                                             6. Authority;
7. Kemandirian fungsional; serta                                         7. Functional independence; and
8. Penetapan dan pembaruan piagam.                                       8. Establishment and updating of the charter.



Kode Etik Audit Internal                                                 Internal Audit Code of Ethics

Auditor Internal Perseroan dan Entitas Anak wajib mematuhi               The Internal Auditors of the Company and Subsidiaries must
Kode Etik Auditor Internal sebagaimana diuraikan pada                    comply with the Code of Ethics of the Internal Auditor as
ketentuan berikut.                                                       described in the following provisions.


                                                              Prinsip-Prinsip
                                                                Principles

                              Integritas                                                               Integrity

 Integritas yang dimiliki Auditor Internal membentuk kepercayaan       The integrity of the Internal Auditor reflects a reliable trust.
 sehingga dapat diandalkan.

                             Objektivitas                                                            Objectivity

 Auditor Internal memperlihatkan tingkat objektivitas yang tertinggi   Internal Auditor show the highest objectivity in collecting, evaluating,
 dalam mengumpulkan, melakukan evaluasi, dan menyampaikan              and conveying the information on the activities or processes audited.
 informasi tentang aktivitas atau proses yang diperiksa. Auditor       Internal Auditor makes a balanced assessment of every related
 Internal membuat penilaian yang seimbang atas segala kondisi          condition and is not influenced by own interest or other interest in
 yang terkait dan tidak dipengaruhi oleh kepentingannya sendiri atau   making the consideration.
 pihak lain dalam membuat pertimbangan.

                            Kerahasiaan                                                            Confidentiality

 Auditor Internal menghormati nilai dan kepemilikan dari informasi     Internal Auditor respect the value and ownership of the information
 yang diterima dan tidak mengungkapkan informasi tersebut tanpa        received and will not disclose the information without proper
 persetujuan yang semestinya, kecuali ada kewajiban hukum atau         approval, except when there is a legal or professional obligation
 kewajiban profesional yang mengharuskan untuk melakukan hal            that is requiring to do so.
 tersebut.

                             Kompetensi                                                             Competence

 Auditor Internal menggunakan pengetahuan, keterampilan, dan           Internal Auditor uses the knowledge, expertise, and experience to
 pengalaman yang diperlukan dalam melakukan tugas/jasa Audit           carry out the duties/services.
 Internal.




               Laporan Tahunan 2023
   230         2023 Annual Report
Page 233
                                                                                         PT SINAR MAS MULTIARTHA TBK




                                                         Aturan Pelaksanaan
                                                           Rule of Conduct

                             Integritas                                                              Integrity

 Auditor Internal seharusnya:                                          Internal Auditor should:
 1. Melakukan pekerjaannya dengan jujur, tekun, dan penuh tanggung     1. Carry out their work honestly, diligently, and responsibly;
    jawab;
 2. Melakukan observasi atas hukum/peraturan/kebijakan yang            2. Observe the prevailing law/regulation/policies and make an
    berlaku dan membuat penjelasan yang diharapkan dari hukum/            explanation expected of the prevailing law/regulation/policies;
    peraturan/kebijakan yang berlaku tersebut;
 3. Tidak terlibat dalam kegiatan terlarang atau melakukan tindakan    3. Not involved in any prohibited activities or taking actions that
    yang mencemarkan nama baik profesi maupun Perseroan; serta            discredit the professions or the Company; and
 4. Menghormati dan memberikan kontribusi pada tujuan Perseroan        4. Respect and contribute to Company’s legitimate and ethical goals.
    yang sah dan etis.

                            Objektivitas                                                            Objectivity

 Auditor Internal seharusnya:                                          Internal Auditor should:
 1. Tidak ikut serta dalam segala kegiatan atau hubungan yang dapat    1. Not involved in any activities or relations that may hinder its
    mengganggu dalam memberikan penilaian yang tidak memihak.             impartial assessment. Such involvement includes participation in
    Keikutsertaan tersebut mencakup keikutsertaan dalam kegiatan          activities or relations that contradict the Company’s interest;
    atau hubungan yang bertentangan dengan kepentingan Perseroan;
 2. Tidak menerima apa pun yang dapat membahayakan pertimbangan        2. Not receiving anything that may jeopardize their professional
    profesionalnya; serta                                                 consideration; and
 3. Mengungkapkan seluruh fakta material yang diketahuinya, yang       3. Disclose all material facts known, which may distort the reporting
    apabila tidak diungkapkan dapat menimbulkan distorsi atas             of audited activities, unless disclosed.
    pelaporan kegiatan yang diperiksa.

                           Kerahasiaan                                                            Confidentiality

 Auditor Internal seharusnya:                                          Internal Auditor should:
 1. Menerapkan sifat/asas kehati-hatian (prudent) dalam menggunakan    1. Apply prudent principles/nature in utilizing and maintaining the
    dan menjaga informasi yang diperoleh selama menjalankan               information obtained during the assignment; and
    tugasnya; serta
 2. Tidak menggunakan informasi untuk keuntungan pribadi atau dengan   2. Not using information for personal benefit or by any means contrary
    cara apa pun yang bertentangan dengan hukum atau merusak              to law or harm the Company’s legitimate and ethical goals.
    tujuan Perseroan yang sah dan etis.

                            Kompetensi                                                             Competence

 Audit Internal seharusnya:                                            Internal Auditor should:
 1. Hanya terlibat dalam pemberian jasa di mana mereka memiliki        1. Only engage in providing services within the knowledge, expertise,
    pengetahuan, keterampilan, dan pengalaman yang dibutuhkan;            and experience required;
 2. Melaksanakan penugasan yang sesuai dengan Standar Profesional      2. Carry out the assignment in line with the Professional Standards
    untuk Audit Internal; serta                                           of Internal Audit; and
 3. Meningkatkan kemampuan profesionalnya serta efektivitas dan        3. Constantly improve their professional capability, effectiveness,
    mutu jasa yang diberikan secara terus-menerus.                        and service quality provided.




Struktur dan Kedudukan                                                   Structure and Position

Struktur dan kedudukan Audit Internal diungkapkan sebagai                The structure and position of the Internal Audit are described
berikut.                                                                 as follows.
1. Audit Internal dipimpin oleh Kepala Audit Internal dan                1. Internal Audit is led by Head of Internal Audit and
    minimal terdiri dari 1 Auditor Internal;                                 consists of at least 1 Internal Auditor;
2. Jika Audit Internal hanya memiliki 1 Auditor, Auditor                 2. If Internal Audit only has 1 Auditor, the same Auditor will
    yang sama akan menjabat sebagai Kepala Audit Internal;                   serve as the Head of Internal Audit;
3. Kepala Audit Internal diangkat dan diberhentikan oleh                 3. Head of Internal Audit is appointed and dismissed by
    Direktur Utama dengan persetujuan Dewan Komisaris                        the President Director upon approval from the Board of
    sesuai dengan rekomendasi Komite Audit;                                  Commissioners with recommendation of Audit Committee;




                                                                                                    Laporan Tahunan 2023
                                                                                                       2023 Annual Report               231
Page 234
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




4. Jika Kepala Audit Internal tidak memenuhi persyaratan atau   4. If the Head of Internal Audit is ineligible of incompetent,
   tidak kompeten, Direktur Utama dapat memberhentikannya          the President Director can dismiss him/her upon
   setelah mendapat persetujuan Dewan Komisaris, dengan            approval from the Board of Commissioners, with
   pertimbangan dari Komite Audit;                                 consideration from Audit Committee;
5. Kepala Audit Internal bertanggung jawab kepada               5. The Head of Internal Audit is responsible to the President
   Direktur Utama, Dewan Komisaris, dan Komite Audit;              Director, Board of Commissioners, and Audit Committee;
6. Auditor Internal bertanggung jawab kepada Kepala Audit       6. The Internal Auditor is responsible to the Head of
   Internal; serta                                                 Internal Audit; and
7. Kepala Audit Internal menyampaikan laporan, termasuk         7. The Head of Internal Audit submits reports, including
   pengamatan dan rekomendasi, kepada Direktur Utama,              observations and recommendations, to the President
   Direksi yang membidangi fungsi kepatuhan, Dewan                 Director, Director in charge of compliance function,
   Komisaris, dan Komite Audit.                                    Board of Commissioners, and Audit Committee.



Tugas dan Tanggung Jawab                                        Duties and Responsibilities

Tugas dan tanggung jawab Audit Internal Perseroan sebagai       The Duties and responsibilities of the Company’s Internal
berikut.                                                        Audit are as follows.
1. Menyusun dan melaksanakan Rencana dan Anggaran               1. Set up and implement the Annual Internal Audit Activities
    Aktivitas Audit Internal Tahunan berdasarkan prioritas         Plan and Budget based on risk priority in line with the
    risiko sesuai dengan tujuan Perseroan;                         Company objective;
2. Menguji dan mengevaluasi pelaksanaan pengendalian            2. Test and evaluate the implementation of internal
    internal dan sistem manajemen risiko sesuai dengan             control and risk management system according to the
    kebijakan Perseroan;                                           Company’s policy;
3. Melakukan pemeriksaan dan penilaian atas efisiensi dan       3. Examine and assess the efficiency and effectivity of the
    efektivitas di bidang kegiatan Perseroan;                      Company’s activities areas;
4. Memberikan saran perbaikan dan informasi yang                4. Provide improvement suggestions and objective
    objektif tentang kegiatan yang diperiksa pada semua            information on the audited activities at all levels of
    tingkat manajemen serta membuat laporan tertulis hasil         management and prepare monthly written audit results
    audit setiap bulan dan menyampaikan laporan tersebut           report and submit the report to the President Director
    ke Direktur Utama dan Dewan Komisaris dengan                   and Board of Commissioners with a copy to the Audit
    tembusan ke Komite Audit;                                      Committee;
5. Memantau, menganalisis dan melaporkan pelaksanaan            5. Monitor, analyze, and report the implementation of
    tindak lanjut perbaikan yang telah disarankan;                 follow-up actions of the suggested improvement;
6. Bekerja sama dan berkomunikasi langsung dengan               6. Cooperate and directly communicate with the Audit
    Komite Audit;                                                  Committee;
7. Menyusun program untuk mengevaluasi mutu kegiatan            7. Prepare a program to evaluate the quality of the Internal
    Audit Internal yang dilakukannya; serta                        Audit activities performed; and
8. Melakukan pemeriksaan khusus apabila diperlukan.             8. Conduct specific examinations if necessary.




             Laporan Tahunan 2023
  232        2023 Annual Report
Page 235
                                                                                       PT SINAR MAS MULTIARTHA TBK




Profil Kepala Audit Internal                                           Head of Internal Audit Profile




                                                   AZARIA DIAN M
                                                   Kepala Audit Internal
                                                   Head of Internal Audit

                                                            Kewarganegaraan                        Nationality
                                                            Warga Negara Indonesia                 Indonesian Citizen

                                                            Usia                                   Age
                                                            29 tahun                               29 years old

                                                            Domisili                               Domicile
                                                            Jakarta                                Jakarta




       Riwayat Pendidikan                                               Educational Background
       Sarjana Ekonomi jurusan Accounting, Universitas Indonesia (2016). Bachelor of Economy majoring in Accounting, Indonesia University
                                                                         (2016).

       Riwayat Jabatan di Perseroan                                     List of Positions Held in Company
       Menjabat sebagai Kepala Audit Internal sejak tahun 2023 Served as Head of Internal Audit since 2023, based on Board of
       berdasarkan Surat Keputusan Direksi No. 169A/SMMA-DIR/X/2023 Directors Decree No. 169A/SMMA-DIR/X/2023 dated 2 October
       tanggal 2 Oktober 2023, dengan masa jabatan yang akan berakhir 2023, with a period of service as determined by the Board of
       berdasarkan hasil evaluasi Direksi.                            Directors’ evaluation results.

       Pengalaman Kerja                                                 Work Experience
       Memiliki pengalaman sebagai Audit Intern RSM Indonesia (2015). Experienced as Audit Intern at RSM Indonesia (2015). Then,
       Kemudian, melanjutkan karier di PricewaterhouseCoopers Indonesia continued her career at PricewaterhouseCoopers Indonesia as
       sebagai Vocational Employee, Assurance (2016), Associate, Assurance Vocational Employee, Assurance (2016), Associate, Assurance
       (2016-2018), Senior Associate, Assurance (2018-2022), dan Manager, (2016-2018), Senior Associate, Assurance (2018-2022), and
       Assurance (2022-2023).                                              Manager, Assurance (2022-2023).

       Hubungan Afiliasi                                                Affiliation Relationship
       Tidak memiliki hubungan keuangan, kepengurusan, dan Has no financial, management, and family relationships with the
       kekeluargaan dengan anggota Dewan Komisaris, Direksi, serta members of the Board of Commissioners, Board of Directors, and
       Pemegang Saham Utama dan Pengendali.                        Main and Controlling Shareholders.




Pelaksanaan Tugas dan                                                  Implementation of Duties and
Tanggung Jawab                                                         Responsibilities

Pelaksanaan tugas dan tanggung jawab Audit Internal                    The implementation of duties and responsibilities of the
selama tahun 2023 diungkapkan sebagai berikut.                         Internal Audit throughout 2023 are disclosed as follows.
1. Menyusun dan melaksanakan rencana audit internal                    1. Prepare and implement the annual internal audit plan;
    tahunan;
2. Mengevaluasi dan menguji sistem pengendalian internal,              2. Evaluate and test the internal control system, risk
    sistem manajemen risiko, dan kepatuhan terhadap                       management system, and compliance with laws and
    peraturan perundang-undangan; serta                                   regulations; and




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report          233
Page 236
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




3. Mengevaluasi dan menguji efektivitas dan efisiensi di            3. Evaluate and test the effectiveness and efficiency in
   bidang keuangan, akuntansi, operasional, sumber daya                the area of finance, accounting, operational, human
   manusia, pemasaran, teknologi informasi, dan kegiatan               resources, marketing, information technology, and other
   Perseroan lainnya.                                                  activities of the Company.



Pengembangan Kompetensi                                             Competency Development

Perseroan mengikutsertakan Audit Internal dalam seminar,            The Company involves the Internal Audit in seminars,
pelatihan, serta pengembangan kompetensi lainnya yang               trainings, and other competency development, held
dilaksanakan secara internal maupun eksternal. Program              internally or externally. The competency development
pengembangan kompetensi yang diikuti Audit Internal selama          program joined by the Internal Audit throughout 2023 is
tahun 2023 diungkapkan sebagai berikut.                             disclosed as follows.


                    Program Pengembangan Kompetensi                                  Penyelenggara          Waktu dan Tempat
                     Competency Development Program                                    Organizer             Time and Venue

 Pelatihan Persiapan Ujian “Wakil Perantara Pedagang Efek”                          The Indonesia Capital         Online,
 Preparation Training for the “Broker-Dealer Representative” Exam                     Market Institute       5-21 October 2023
 Analisa Ekonomi dan Penilaian Efek untuk Investasi (Exam Preparation)              The Indonesia Capital         Online,
 Economic Analysis and Securities Valuation for Investment (Exam Preparation)         Market Institute       27 December 2023




Sistem Pengendalian Internal
Internal Control System

Sistem pengendalian internal merupakan landasan                     Internal control system is the basis for the Company’s
pengelolaan operasional dan keuangan Perseroan untuk                operational and financial management to ensure the
memastikan pelaksanaan usaha secara berkelanjutan sesuai            implementation of sustainable business in line with the
dengan Visi dan Misi Perseroan. Dewan Komisaris, Direksi,           Company’s Vision and Mission. The Board of Commissioners,
dan anggota Manajemen lainnya beserta seluruh insan                 Board of Directors, and other members of Management
Perseroan bertanggung jawab untuk memastikan proses                 together with all Company personnel are responsible for
pengendalian internal berjalan dengan baik agar efektivitas         ensuring the internal control process runs well, enabling
dan efisiensi operasi, keandalan pelaporan keuangan,                the operational effectiveness and efficiency, reliability of
kepatuhan terhadap hukum dan peraturan yang berlaku,                financial reporting, compliance with applicable laws and
serta penerapan mekanisme check and balance berjalan                regulations, as well as the implementation of check and
dengan memadai.                                                     balance mechanisms to run adequately.



Lingkungan Pengendalian                                             Areas of Control

Lingkungan pengendalian mencerminkan kebijakan, sikap,              Areas of control reflected the policies, attitudes, and
dan langkah-langkah yang diambil oleh Direksi dan Dewan             measures taken by the Board of Directors and Board of
Komisaris dalam melaksanakan pengendalian operasional               Commissioners in conducting the Company’s operational
Perseroan. Oleh karenanya, Perseroan berkomitmen                    control. Therefore, the Company is committed to establish
menciptakan dan menjaga lingkungan pengendalian yang                and maintain the areas of control that encourages positive
mendorong perilaku positif dan mendukung penerapan                  and conducive behavior for the implementation of the
sistem pengendalian internal melalui:                               internal control system through:
1. Integritas dan nilai-nilai etika yang tertanam dalam             1. Integrity and ethical values embedded in the Company’s
    Budaya Perseroan;                                                   Culture;




             Laporan Tahunan 2023
  234        2023 Annual Report
Page 237
                                                                                PT SINAR MAS MULTIARTHA TBK




2. Komitmen terhadap kompetensi;                                  2. Commitment to competence;
3. Peran dan pengaruh Dewan Komisaris serta Komite                3. Role and influence of the Board of Directors and Audit
   Audit;                                                            Committee;
4. Filosofi Manajemen dan kultur operasi Perseroan;               4. Management philosophy and the Company’s operational
                                                                     culture;
5. Struktur Perseroan yang mampu memberikan kejelasan             5. Structure of the Company that reflects clear authorities
   wewenang dan tanggung jawab dengan baik;                          and responsibilities;
6. Budaya dan aturan yang sehat dalam mekanisme penetapan         6. Sound culture and rules in determining the authorities
   otoritas serta tanggung jawab;                                    and responsibilities;
7. Kebijakan dan praktik yang sehat di bidang sumber daya         7. Sound human resources policies and practices; and
   manusia; serta
8. Pengaruh faktor-faktor eksternal Perseroan.                    8. The impact of the Company’s external factors.



Implementasi Sistem Pengendalian Internal                         Implementation of Internal Control System

Implementasi sistem pengendalian internal di Perseroan            The Board of Directors and Internal Audit, supervised by
melibatkan Direksi dan Audit Internal yang diawasi oleh           Board of Commissioners and Audit Committee, are involved
Dewan Komisaris dan Komite Audit. Direksi dibantu oleh            in the implementation of internal control system in the
Audit Internal bertanggung jawab atas penerapan kebijakan         Company. The Board of Directors, assisted by Internal
terkait kegiatan usaha, manajemen risiko, rencana strategis,      Audit, is responsible for the implementation of policies
pembagian tugas, pendelegasian wewenang, dan kebijakan            related to business activities, risk management, strategic
akuntansi Perseroan. Sementara itu, Dewan Komisaris               plans, assignment of duties, delegation of authorities, and
dibantu oleh Komite Audit bertugas mengawasi dan                  the Company’s accounting policies. While the Board of
memberikan nasihat terkait kecukupan dan kewajaran                Commissioners, assisted by Audit Committee, is tasked
proses penyusunan Laporan Keuangan serta manajemen                to supervise and give advice related to the adequacy and
risiko dengan memperhatikan prinsip kehati-hatian.                fairness in the preparation of the Financial Report and risk
                                                                  management by considering the prudence principles.



Tinjauan Efektivitas Sistem                                       Overview on the Effectivity of
Pengendalian Internal                                             the Internal Control System

Penerapan sistem pengendalian internal dipantau dan dievaluasi    Implementation of internal control system is monitored and
secara berkala oleh Audit Internal, bekerja sama dengan           periodically evaluated by Internal Audit, together with the
Direksi. Evaluasi dilakukan dengan menggunakan gap analysis       Board of Directors. The evaluation is conducted by using the gap
antara peraturan dan kebijakan dengan proses operasional          analysis between regulations and policies and the Company’s
Perseroan. Dari kegiatan ini, dihasilkan rekomendasi yang harus   operational processes. From such activity, the Company
ditindaklanjuti oleh Perseroan sehingga sistem pengendalian       obtained recommendations to be followed up, allowing the
internal dapat secara efektif mendukung pertumbuhan dan           internal control system to be effectively promote growth and
kelangsungan usaha Perseroan.                                     continuity of the Company’s business.



Pernyataan Dewan Komisaris dan                                    Board of Commissioners and Board of
Direksi atas Kecukupan Sistem                                     Directors Statement on the Adequacy
Pengendalian Internal                                             of Internal Control System

Berdasarkan hasil evaluasi, Dewan Komisaris dan Direksi           Based on the evaluation results, the Board of Commissioners
menilai bahwa sistem pengendalian internal di tahun 2023          and Board of Directors consider the internal control system in
telah dijalankan dengan baik dan efektif. Dewan Komisaris         2023 has been implemented well and effectively. The Board
dan Direksi juga memberikan saran dan rekomendasi agar            of Commissioners and Board of Directors also provide
pengendalian internal terus ditingkatkan dan disesuaikan          suggestions and recommendations to keep on improving the
dengan kebutuhan di tahun-tahun mendatang.                        internal control and adapted to the needs of upcoming years.




                                                                                          Laporan Tahunan 2023
                                                                                             2023 Annual Report         235
Page 238
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




Sistem Manajemen Risiko
Risk Management System

Pelaksanaan aktivitas bisnis Perseroan tidak lepas dari                    The implementation of Company’s business activities
berbagai eksposur risiko baik dari faktor internal maupun                  is inseparable from various risk exposures, either from
eksternal yang memiliki potensi dampak terhadap                            internal or external factors which have the potential to
keberlangsungan usaha Perseroan. Menyadari hal                             impact the continuity of the Company’s business. Realizing
tersebut, Perseroan turut mengintegrasikan tujuan dalam                    this, the Company also integrates objectives in realizing
mewujudkan best practices GCG melalui kebijakan, prosedur,                 GCG best practices through comprehensive policies,
dan mekanisme pengelolaan risiko secara komprehensif,                      procedures and risk management mechanisms, starting
mulai dari proses identifikasi, pengukuran, pengelolaan,                   from the process of identifying, measuring, managing
serta mitigasi risiko-risiko yang berpotensi mengganggu                    and mitigating risks that have the potential to disrupt the
aktivitas Perseroan dan kelangsungan usaha, serta                          Company’s activities and business continuity, as well as
menyebabkan tidak tercapainya tujuan Perseroan.                            causing failure to achieve the Company’s objectives.



Profil Risiko                                                              Risk Profile

Berdasarkan hasil identifikasi Manajemen, risiko ekonomi,                  Based on identification results from the Management, the
sosial, dan lingkungan yang dihadapi Perseroan dan upaya                   economic, social, and environmental risks face by the Company,
mitigasinya diungkapkan sebagai berikut.                                   along with the mitigation steps are disclosed as follows.


Risiko Ekonomi                                                             Economic Risks

                                                            Risiko Suku Bunga
                                                            Interest Rate Risk

                Timbul dari kredit, simpanan dan simpanan dari bank lain, serta pinjaman yang diterima. Kredit, simpanan dan simpanan dari
                bank lain dan pinjaman yang diterima dengan suku bunga mengambang mengakibatkan timbulnya risiko suku bunga arus kas
                terhadap Perseroan. Aset keuangan dan liabilitas keuangan dengan suku bunga tetap mengakibatkan timbulnya risiko nilai
 Indikasi       wajar suku bunga terhadap Perseroan.
 Indication
                Arises from credit and deposits placed at other banks, and the loans received. Credit and deposits placed at other banks
                and the loans received at a floating interest rate create an interest rate risk to the Company’s cash flows. Financial assets
                and financial liabilities with fixed interest rates lead to a fair value interest rate risk to the Company.
                Menganalisis eksposur suku bunga secara dinamis. Berbagai skenario disimulasikan dengan mempertimbangkan
                pembiayaan kembali, pembaruan posisi yang ada, serta alternatif pembiayaan. Bagi setiap simulasi, pergerakan suku
                bunga yang sama digunakan untuk seluruh mata uang. Berdasarkan skenario ini, Perseroan menghitung dampak laba
                atau rugi dari pergerakan suku bunga. Skenario-skenario tersebut dilakukan hanya untuk liabilitas yang mewakili posisi
 Mitigasi       utama yang dikenakan bunga.
 Mitigation
                Dynamically analyzing interest rate exposure. Various scenarios are simulated by considering refinancing, updating the
                existing positions, and financing alternatives. In each simulation, the movement of the same interest rate is used for all
                currencies. From this scenario, the Company calculates the profit or loss impact of the interest rate movement. Such
                scenarios are applied only for liabilities representing the interest-bearing main position.




                                                               Risiko Harga
                                                                Price Risk

                Perseroan terpengaruh risiko harga efek ekuitas dan efek utang karena memiliki investasi yang diklasifikasikan sebagai
 Indikasi       tersedia untuk dijual atau diukur pada nilai wajar melalui Laporan Laba Rugi dalam Laporan Posisi Keuangan Konsolidasian.
 Indication     The Company is affected by the price risks of equity and debt securities as it owns investment classified as available for sale or
                measured on fair value through the Profit or Loss Statement in the Consolidated Statement of Financial Position.
                Melakukan diversifikasi portofolio yang sesuai dengan batasan yang ditentukan oleh Perseroan untuk mengelola risiko
                harga yang timbul dari investasi efek ekuitas. Sementara untuk mengelola risiko harga yang timbul dari investasi pada
                surat berharga utang, Perseroan melakukan analisa terkait besaran bunga kupon yang ditawarkan dengan tingkat imbal
 Mitigasi       hasil yang diharapkan oleh pasar.
 Mitigation
                Diversify the portfolio in line with the limit set by the Company to manage price risk that arises from the investment in
                equity securities. Meanwhile, to manage the price risk that arises from the investment in debt notes, the Company is
                analyzing the coupon rate offered against the return expected by the market.




              Laporan Tahunan 2023
  236         2023 Annual Report
Page 239
                                                                                         PT SINAR MAS MULTIARTHA TBK




                                                            Risiko Kredit
                                                             Credit Risk

Indikasi     Timbul dari nasabah atau pihak lawan akibat gagal memenuhi liabilitas kontraktualnya.
Indication   Arises from the customers or opposite party due to their failure to fulfill the contractual liabilities.
             Melakukan hubungan usaha dengan pihak lain yang memiliki kredibilitas, menganalisis risiko nasabah baru sebelum
             persyaratan pembayaran dan distribusi ditawarkan, menetapkan kebijakan verifikasi dan otorisasi kredit, serta memantau
Mitigasi     kolektibilitas pinjaman yang diberikan dan piutang secara berkala untuk mengurangi jumlah piutang tak tertagih.
Mitigation   Conducting business relations with credible parties, analyzing risk of the new customer before offering terms of payment
             and distribution, establishing credit verification and authorization policy, and regularly monitoring the collectability of loans
             given and receivables to reduce the number of bad debts.



                                                          Risiko Likuiditas
                                                           Liquidity Risk

Indikasi     Risiko kerugian yang timbul karena Perseroan tidak memiliki likuiditas yang cukup untuk memenuhi liabilitasnya.
Indication   The risk of loss that arises as the Company does not have sufficient liquidity to meet its liabilities.
             Memantau dan menjaga jumlah kas dan setara kas yang dianggap memadai untuk membiayai operasional Perseroan dan
             untuk mengatasi dampak fluktuasi arus kas. Manajemen juga melakukan evaluasi berkala atas proyeksi arus kas dan
             arus kas aktual, termasuk jadwal jatuh tempo utang, dan terus-menerus melakukan penelaahan pasar keuangan untuk
Mitigasi     mendapatkan sumber pendanaan yang optimal.
Mitigation   Monitor and maintain the amount of cash and cash equivalents deemed adequate to finance the Company’s operations and
             to address the impact of cash flow fluctuations. Management also conducts a periodic evaluation of cash flow projection
             and actual cash flow, including debt maturity schedule, and continuously review the financial market to get an optimal
             source of fund.



                                                          Risiko Strategis
                                                           Strategic Risk

             Timbul akibat ketidaktepatan Perseroan dalam pengambilan dan/atau pelaksanaan suatu keputusan strategis sehingga tidak
Indikasi     tercapainya target yang disusun dalam rencana bisnis.
Indication   Arises from the Company’s inaccuracy in making and/or implementing a strategic decision, causing the targets set out in
             the business plan are not achieved.
             Menyusun strategi dan rencana bisnis yang sebelumnya telah didiskusikan dengan Dewan Komisaris, Direksi serta seluruh
             Manajemen Perseroan. Perseroan juga melakukan kajian dan evaluasi strategi bisnis serta realisasi yang telah dicapai oleh
             Perseroan sesuai dengan yang terangkum dalam rencana bisnis.
Mitigasi
Mitigation   Monitor and maintain the amount of cash and cash equivalents deemed adequate to finance the Company’s operations and
             to address the impact of cash flow fluctuations. Management also conducts a periodic evaluation of cash flow projection
             and actual cash flow, including debt maturity schedule, and continuously review the financial market to get an optimal
             source of fund.



                                                        Risiko Operasional
                                                         Operational Risk

             Timbul akibat ketidakcukupan dan/atau tidak berfungsinya proses internal, kesalahan manusia, kegagalan sistem, dan/
Indikasi     atau adanya kejadian-kejadian eksternal yang memengaruhi operasional Perseroan.
Indication   Arises from inadequate and/or non-functioning internal processes, human errors, system failures, and/or external events
             affecting the Company’s operations.
             Mengelola risiko ini melalui model tata kelola risiko operasional dengan memberikan tata kelola yang formal, transparan, dan
             konsisten yang secara jelas menegaskan tugas dan tanggung jawab serta alur pelaporan untuk mengelola risiko operasional
             dalam Perseroan secara efektif. Model tata kelola bertujuan untuk menempatkan akuntabilitas terhadap risiko operasional
             yang mungkin timbul serta pada saat yang bersamaan memfasilitasi pemisahan tugas secara independen antara risk taking
Mitigasi     units, unit pengendali risiko, dan Audit Internal.
Mitigation
             Managing this risk via operational risk governance model by providing formal, transparent, and consistent governance
             that clearly defines the duties, responsibilities, and reporting flow to manage the Company’s operational risk effectively.
             The objective of the governance model is to have accountability on the operational risk that may arise while facilitating
             independent segregation of duties between risk-taking unit, risk control unit, and Internal Audit.




                                                                                                    Laporan Tahunan 2023
                                                                                                       2023 Annual Report            237
Page 240
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




                                                 Risiko dalam bidang Pembiayaan
                                                         Risk in Financing

Indikasi       Timbul seiring dengan menurunnya kondisi ekonomi suatu negara.
Indication     Arise in conjunction with the decline in a country’s economic conditions.
               Peningkatan dan pengetatan prosedur untuk pembiayaan serta melakukan due diligence yang lebih mendalam untuk
Mitigasi       mencegah terjadinya gagal bayar pada pembiayaan yang dituju yang dilakukan oleh Entitas Anak.
Mitigation     Enhancement and tightening of financing procedures, as well as conducting more thorough due diligence, to prevent
               defaults on financing directed by the Subsidiary Entity.




                                                   Risiko dalam bidang Asuransi
                                                         Risk in Insurance

               Timbul akibat adanya ketidakpastian peristiwa yang dapat menyebabkan kerugian finansial, serta ketidakseimbangan
Indikasi       antara risiko dan premi.
Indication
               Arises due to the uncertainty of events that can lead to financial losses, as well as the imbalance between risk and premiums.
               Menggunakan metode strategi dan analisis khusus dalam Proses seleksi risiko dalam menawarkan program asuransi,
               penetapan premi, penggunaan reasuransi dan atau penanganan klaim. Agar strategi dan analisis ini berjalan dengan
               baik di berbagai tingkat, Entitas Anak berkomunikasi secara rutin terhadap perkembangan ekonomi serta perilaku
               konsumen. Komunikasi rutin ini membantu Entitas Anak untuk menetapkan strategi kedepan baik jangka pendek
Mitigasi       maupun jangka panjang.
Mitigation     Utilizing specialized strategy and analysis methods in the risk selection process when offering insurance programs,
               determining premiums, utilizing reinsurance, and/or handling claims. To ensure the effectiveness of these strategies
               and analyses across various levels, the Subsidiary Entity communicates regularly regarding economic developments
               and consumer behavior. This routine communication assists the Subsidiary Entity in establishing future strategies both
               in the short and long term.




                              Risiko dalam bidang Pasar Modal dan Administrasi Pasar Modal
                                 Risk in Capital Market and Capital Market Administration

               Timbul karena terjadinya pelanggaran regulasi pasar modal dan ketidakmampuan memenuhi persyaratan pelaporan
Indikasi       keuangan.
Indication
               Arises due to violations of capital market regulations and inability to meet financial reporting requirements.
               Menerima masukan dan kritik dari nasabah yang selanjutnya ditindaklanjuti oleh Entitas Anak sebagai aksi untuk
               memperbaiki sistem yang sudah ada. Perbaikan sistem pada biro administrasi efek (BAE) serta peningkatan kualitas
Mitigasi       pelayanan menjadi kunci utama untuk mempertahankan nasabah.
Mitigation     Receiving feedback and criticism from customers, which is then followed up by the Subsidiary as an action to improve the
               existing system. System improvement at the securities administration bureau (BAE) and service quality improvement are
               the main keys to retaining customers.




                                                          Risiko Pendanaan
                                                           Financing Risk

Indikasi       Timbul akibat menurunnya kondisi ekonomi.
Indication     Arising from declining economic conditions.
               Meningkatkan kemampuan untuk menganalisa dan menciptakan strategi untuk mengidentifikasi potensi aset yang
               dapat diberikan pendanaan. Dengan jajaran Direksi dan Komisaris yang berpengalaman serta komunikasi rutin yang
Mitigasi       dilakukan oleh Entitas Anak, ketidaksesuaian pendanaan dapat diminimalisir.
Mitigation     Improving the ability to analyze and devise strategies to identify potential assets for financing. With an experienced Board
               of Directors and Board of Commissioners, as well as regular communication conducted by the Subsidiary Entity, financing
               discrepancies can be minimized.




             Laporan Tahunan 2023
 238         2023 Annual Report
Page 241
                                                                                        PT SINAR MAS MULTIARTHA TBK




                                                   Risiko Perubahan Teknologi
                                                     Technology Change Risk

Indikasi     Timbul apabila perusahaan tidak mampu beradaptasi dengan perubahan teknologi.
Indication   Arising when a company fails to adapt to technological changes.

             Mengikuti perkembangan sistem yang ada, Perseroan yakin dapat mengikuti perkembangan jaman dan kemampuan
Mitigasi     Perseroan untuk beradaptasi dengan cepat.
Mitigation   By keeping up with the existing systems, the Company believes it can keep pace with the times and its ability to adapt
             quickly.




                                                    Risiko Kebijakan Investasi
                                                     Investment Policy Risk

Indikasi     Potensi kerugian atau ketidakpastian yang timbul dari keputusan atau kebijakan yang diambil dalam proses investasi.
Indication   The potential loss or uncertainty arising from decisions or policies made in the investment process.

             Melaksanakan kegiatan investasi dengan transparan, terukur, konsisten, dan diversifikasi. Hal ini bertujuan untuk mengurangi
Mitigasi     risiko terkait kebijakan investasi dengan mempertimbangkan berbagai aspek yang relevan.
Mitigation   Implementing investment activities transparently, measurably, consistently, and diversifying. This aims to reduce investment
             policy-related risks by considering various relevant aspects.




Risiko Sosial                                                           Social Risks


                   Kegagalan Penerapan Prinsip Keuangan Berkelanjutan di Internal Perseroan
                Failure to Implement the Sustainable Finance Principles in the Company’s Internal

Indikasi     Terjadi akibat rendahnya pemahaman terkait keuangan berkelanjutan yang dimiliki oleh karyawan Perseroan.
Indication   Arises from the low understanding of sustainable finances by the Company’s employees.

             Mengikutsertakan karyawan dalam kegiatan pelatihan terkait keuangan berkelanjutan, baik yang diselenggarakan oleh
Mitigasi     internal maupun eksternal Perseroan.
Mitigation
             Involving the employees in sustainable finance-related training activities held either internally or externally by the Company.




                                                            Risiko Hukum
                                                              Legal Risk

             Timbul akibat dari kelalaian atas perjanjian yang mengikat Perseroan atau pelanggaran yang dilakukan oleh Perseroan
             terhadap peraturan perundang-undangan yang berlaku, sehingga menimbulkan gugatan hukum dari pihak-pihak yang
Indikasi     terikat dalam perjanjian tersebut.
Indication
             Arises as a result of negligence over the agreement binding the Company or violations done by the Company against the
             prevailing laws and regulations, leading to lawsuits from the parties bound in such agreement.

             Melaksanakan identifikasi, pengukuran, dan pemantauan terhadap potensi risiko hukum dilaksanakan terhadap
             seluruh aktivitas Perseroan dan Entitas Anak, terutama kegiatan operasional Perseroan, dengan melibatkan pihak
             ketiga yang memiliki potensi benturan kepentingan atau gugatan hukum. Perseroan melakukan manajemen risiko
             hukum dengan melakukan penanganan proses hukum secara profesional dan jika diperlukan membuat pencadangan
Mitigasi     potensi biaya kerugian.
Mitigation
             Identifying, measuring, and monitoring any potential legal risk are applied to all activities of the Company and its Subsidiaries,
             particularly the Company’s operational activities involving a third party with a potential conflict of interest or lawsuit.
             The Company manages its legal risk by handling any legal process professionally and, if necessary, reserves funds for
             potential loss expenses.




                                                                                                    Laporan Tahunan 2023
                                                                                                       2023 Annual Report             239
Page 242
05            TATA KELOLA PERUSAHAAN
              Corporate Governance




                                                           Risiko Reputasi
                                                           Reputation Risk

                Timbul karena adanya pemberitaan media dan/atau rumor mengenai Perseroan dan Entitas Anak akibat tidak
 Indikasi       menjalankan usaha yang sesuai dengan prinsip keberlanjutan.
 Indication     Arises from media reports and/or rumors about the Company and its Subsidiaries as a result of failing to run a business
                in line with the sustainability principles.
 Mitigasi       Meminimalisir dan/atau menghindari pelanggaran terhadap ketentuan yang berlaku.
 Mitigation     Minimizing and/or avoiding violation of the prevailing provisions.




                                       Risiko Kelangkaan Sumber Daya Manusia (SDM)
                                        Human Resources (HR) Resource Scarcity Risk

 Indikasi       Timbul apabila Perseroan kekurangan tenaga kerja yang terampil dan profesional di bidang keuangan.
 Indication     Arising when the Company faces a shortage of skilled and professional workforce in the financial field.
                Menerapkan strategi perencanaan tenaga kerja jangka panjang untuk mengantisipasi kebutuhan SDM di masa depan
                serta meningkatkan retensi karyawan dengan menyediakan program pengembangan karier dan insentif yang menarik.
                Selain itu, diversifikasi sumber rekrutmen dan peningkatan pelatihan berkelanjutan bagi karyawan juga dapat membantu
                mengurangi ketergantungan pada satu sumber rekrutmen serta meningkatkan keterampilan yang sesuai dengan
                kebutuhan Perseroan, sehingga Perseroan dapat memastikan kelancaran operasional dalam menawarkan produk dan
 Mitigasi       layanan keuangan kepada nasabah.
 Mitigation
                Implementing long-term workforce planning strategies to anticipate future HR needs and enhance employee
                retention by providing career development programs and attractive incentives. Additionally, diversifying recruitment
                sources and enhancing continuous training for employees can also help reduce reliance on a single recruitment
                source and enhance skills aligned with the Company’s needs, ensuring smooth operations in offering financial
                products and services to customers.




Risiko Lingkungan                                                      Environmental Risk


                          Pembiayaan terhadap Kegiatan Usaha yang Tidak Bertanggung Jawab
                                     Financing of Irresponsible Business Activities

                Pembiayaan terhadap kegiatan usaha yang tidak bertanggung jawab dapat merusak reputasi Perseroan dan Entitas Anak
 Indikasi       serta keberlanjutan ekosistem lingkungan hidup.
 Indication     Financing irresponsible business activities may damage the reputation of the Company and its Subsidiaries, as well as the
                sustainability of the environmental ecosystem.
                Menginstruksikan kepada seluruh Entitas Anak yang bergerak di bidang perbankan dan pembiayaan untuk menyusun
                persyaratan minimum terhadap penyaluran kredit pada kegiatan usaha yang terkait langsung dengan lingkungan, seperti
 Mitigasi       kelengkapan dokumen Analisis Dampak Lingkungan (AMDAL) dan Program Penilaian Peringkat Kerja Perusahaan (PROPER).
 Mitigation     Instruct all Subsidiaries engaged in banking and financing to prepare minimum lending requirements for business activities
                directly linked to the environment, such as the completeness of the Environmental Impact Analysis (AMDAL) document and
                the Company Work Rating Assessment Program (PROPER).




Tinjauan Efektivitas Sistem Manajemen                                  Overview on the Effectivity of Risk
Risiko                                                                 Management System

Audit Internal bertugas mengawasi dan mengevaluasi                     Internal Audit has the task of supervising and evaluating
pelaksanaan sistem manajemen risiko di lingkup Perseroan.              the implementation of risk management system within the
Evaluasi efektivitas sistem manajemen risiko yang dilakukan            Company. Evaluation of the effectiveness of risk management
Audit Internal diuraikan sebagai berikut.                              system conducted by Internal Audit id described as follows:
1. Memantau, meninjau, dan mengevaluasi manajemen                      1. Analyze, review, and evaluate the implemented risk
    risiko yang telah dijalankan;                                          management;
2. Mengoordinasikan dan melakukan pembahasan                           2. Coordinate and discuss about risk management with all
    manajemen risiko dengan seluruh unit bisnis;                           of the business units;
3. Menyusun laporan analisis risiko dan kepatuhan secara               3. Prepare risk analysis and compliance reports regularly to
   berkala untuk disampaikan kepada Direksi; serta                         be submitted to the Board of Directors; and




              Laporan Tahunan 2023
  240         2023 Annual Report
Page 243
                                                                              PT SINAR MAS MULTIARTHA TBK




4. Menyediakan data akurat tentang tingkat risiko operasional   4. Provide accurate data on operational and strategic risk
   dan strategis yang ditujukan untuk mengembangkan dan            levels aimed to develop and improve risk management
   memperbaiki proses manajemen risiko secara berkelanjutan.       sustainably.



Pernyataan Dewan Komisaris dan                                  Board of Commissioners and Board of
Direksi atas Kecukupan Sistem                                   Directors on the Adequacy of Internal
Manajemen Risiko                                                Control System

Dewan Komisaris dan Direksi menilai bahwa pelaksanaan           The Board of Commissioners and Board of Directors
sistem manajemen risiko pada tahun 2023 telah optimal.          consider the implementation of risk management system in
Dewan Komisaris dan Direksi juga menyimpulkan bahwa             2023 as optimal. The Board of Commissioners and Board of
seluruh potensi risiko yang diidentifikasi pada tahun 2023      Directors also concluded that all potential risks identified in
dapat dikelola dengan baik, dan langkah-langkah mitigasi        2023 can be managed well, and the mitigation steps taken
yang diambil terbukti tepat dan efektif.                        proven to be appropriate and effective.




Tata Kelola Teknologi Informasi
Information Technology Governance




Kemajuan teknologi yang cepat menjadi tantangan bagi            Rapid technological advances are a challenge for the
Perseroan untuk semakin meningkatkan teknologi informasi        Company to further improve its information technology.
yang dimiliki. Maka dari itu, Perseroan mulai melibatkan        Therefore, the Company has begun to involve independent
digitalisasi teknologi yang mandiri dan terintegrasi serta      and integrated digitalization of technology as well as
melibatkan konsultan eksternal dalam menunjang efektivitas      involving external consultants to support business
usaha dan meningkatkan kemampuan karyawan dalam                 effectiveness and improve employee capabilities in
mengoperasikan teknologi informasi.                             operating information technology.




                                                                                        Laporan Tahunan 2023
                                                                                           2023 Annual Report         241
Page 244
05          TATA KELOLA PERUSAHAAN
            Corporate Governance




Kode Etik
Code of Ethics

Perseroan membentuk pedoman berperilaku guna                 The Company has established a code of conduct to ensure
memastikan seluruh insan Perseroan tetap profesional         that all Company personnel will remain professional in
dalam menjalakan tugas dan tanggung jawabnya. Pedoman        carrying out their duties and responsibilities. The code of
tersebut dituangkan dalam Kode Etik dan Pedoman Tingkah      conduct is stated in the Company’s Code of Ethics and Code
Laku Perseroan yang meliputi:                                of Conduct which includes:
1. Tanggung Jawab kepada Perseroan;                          1. Responsibility to Company;
2. Tanggung Jawab kepada Tempat Kerja;                       2. Responsibility at Work;
3. Mewakili Perseroan dan Pihak Luar Lainnya;                3. Representing the Company and Other External Parties;
4. Kerahasiaan;                                              4. Confidentiality;
5. Kegiatan Investasi; serta                                 5. Investment Activities; and
6. Kepatuhan pada Peraturan.                                 6. Compliance with Regulations.



Pernyataan Kode Etik Berlaku                                 Statement that Code of Ethics Applies
bagi Anggota Direksi, Anggota                                to Members of the Board of Directors,
Dewan Komisaris, dan Karyawan                                Board of Commissioners and Employees

Kode Etik berlaku bagi segenap insan Perseroan, mulai dari   The Code of Ethics applies to all Company personnel, from
Dewan Komisaris, Direksi, karyawan, dan individu lain yang   the Board of Commissioners, Board of Directors, employees,
terkait dengan bisnis Perseroan.                             and other individuals related to the Company’s business.



Sosialisasi Kode Etik                                        Dissemination of Code of Ethics

Kode Etik Perseroan disosialisasikan sejak karyawan mulai    The Company’s Code of Ethics has been disseminated since
bergabung di Perseroan. Sosialisasi juga dilakukan melalui   the employees started joining the Company. Dissemination
media yang mudah diakses oleh karyawan, di antaranya         is also done through media that are easily accessible by
melalui situs web internal Perseroan, majalah perusahaan,    employees, i.e., the Company’s internal website, magazines,
buku saku, banner, buletin, pernyataan komitmen, iklan di    pocketbooks, banners, newsletters, commitment statements,
koran sampai pemanfaatan teknologi informasi.                newspapers ads, even utilizing information technology.



Penerapan dan Penegakan Kode Etik                            Code of Ethics Implementation and
                                                             Enforcement

Perseroan berupaya menerapkan dan menegakkan Kode            The Company strives to implement and enforce the Code
Etik dan Pedoman Tingkah Laku dalam semua kegiatan           of Ethics and Code of Conduct in all business activities. The
bisnis. Adapun ketentuan dalam implementasi Kode Etik        Code of Ethics implementation has the following conditions.
dan Pedoman Tingkah Laku sebagai berikut.
1. Seluruh karyawan Perseroan diwajibkan secara tertulis     1. All of the Company’s employees are required to sign a
    untuk menandatangani pernyataan kepatuhan terhadap          written statement of compliance with the Code of Ethics
    Kode Etik dan Pedoman Tingkah Laku;                         and Code of Conduct;
2. Setiap pelanggaran Kode Etik dan Pedoman Tingkah Laku     2. Every violation of the Code of Ethics and Code of
    akan diberikan sanksi sesuai dengan ketentuan yang          Conduct will be subject to sanction in accordance with
    berlaku berupa pemutusan hubungan kerja, denda, dan         the prevailing provisions, such as termination of work,
    hukuman pidana. Terkait hal ini, karyawan yang melihat      penalty, and criminal punishment. In this regard, any
    atau menjadi saksi dalam sebuah pelanggaran Kode Etik       employee who sees or witnesses any violation of the
    dan Pedoman Tingkah Laku, diharapkan untuk segera           Code of Ethics or Code of Conduct is expected to report
    melaporkan tindakan penyimpangan tersebut; serta            it immediately; and




            Laporan Tahunan 2023
  242       2023 Annual Report
Page 245
                                                                              PT SINAR MAS MULTIARTHA TBK




3. Karyawan Perseroan yang memberikan keteladanan                3. The employee who has set examples by applying the
   terhadap Kode Etik dan Pedoman Tingkah Laku akan                 Code of Ethics and Code of Conduct will be rewarded in
   diberikan penghargaan sesuai kebijakan penghargaan               line with the reward policy in the form of incentives or
   berupa insentif atau apresiasi lainnya.                          other appreciation.



Laporan Pelanggaran Kode Etik                                    Code of Ethics Violation Report

Selama tahun 2023, Perseroan tidak menerima laporan              During 2023, the Company did not receive any reports of
tentang pelanggaran terhadap Kode Etik dan Pedoman               violations of the Code of Ethics and Conduct Guidelines,
Tingkah Laku, baik yang dilakukan Dewan Komsaris, Direksi,       whether committed by the Board of Commissioners, Board
Manajemen, ataupun karyawan.                                     of Directors, Management, or employees.




Budaya Perusahaan
Corporate Culture

Perseroan menetapkan nilai-nilai perusahaan sebagai              The Company establishes corporate values as a basis and
fondasi dan panduan berperilaku. Nilai-nilai utama               guidelines of conduct. The Company’s core values comprise
Perseroan mencakup:                                              of:
1. Integritas;                                                   1. Integrity;
2. Sikap Positif;                                                2. Positive attitude;
3. Komitmen;                                                     3. Commitment;
4. Loyalitas;                                                    4. Loyalty;
5. Inovasi; serta                                                5. Innovation; and
6. Peningkatan yang Berkelanjutan.                               6. Continuous Improvement.


Nilai-nilai utama ini adalah bagian dari Budaya Keberlanjutan    These core values are part of Sustainability Culture
yang diperkenalkan kepada karyawan sejak awal bergabung          introduced to the employees when they started joining
dengan Perseroan. Nilai-nilai tersebut disosialisasikan kepada   the Company. These values are socialized to employees
karyawan melalui berbagai kegiatan dengan tujuan agar            through various activities, with an aim to make it a part of
menjadi bagian dari budaya organisasi.                           the organizational culture.




                                                                                        Laporan Tahunan 2023
                                                                                           2023 Annual Report       243
Page 246
05           TATA KELOLA PERUSAHAAN
             Corporate Governance




Pengendalian Gratifikasi dan Anti-Korupsi
Gratification Control and Anti-Corruption




Guna mencegah praktik korupsi, balas jasa (kickbacks), fraud,    In preventing the practices of corruption, kickbacks,
suap, dan/atau gratifikasi di lingkungan Perseroan, Perseroan    fraud, bribery and/or gratification within the Company,
menetapkan kebijakan pengendalian gratifikasi dan                gratification and anti-corruption control policies is set by
anti-korupsi yang disusun berdasarkan peraturan                  the Company, prepared based on laws and regulations,
perundang-undangan serta Kode Etik dan Pedoman Tingkah           as well as Company’s Code of Ethics and Code of
Laku Perseroan. Sosialisasi kebijakan pengendalian gratifikasi   Conduct. The dissemination of gratification and anti-
dan anti-korupsi dilakukan dengan melibatkan seluruh             corruption control policies is carried out by involving all
karyawan yang disampaikan oleh setiap atasan unit kerja di       employees, presented by the superiors of each work
masing-masing divisinya.                                         unit in each division.




Pemberian Dana untuk Kegiatan Politik
Funding of Political Activities

Selama tahun 2023, Perseroan tidak mengalokasikan                The Company did not allocate or give funds for political
atau memberikan dana untuk kegiatan politik, termasuk            activities, including donations for political purposes,
menyumbangkan dana untuk tujuan politis.                         throughout 2023.




Perkara Penting dan Sanksi Administratif
Significant Cases and Administrative Sanction

Per Desember 2023, tidak terjadi perkara hukum ataupun           As of December 2023, no legal case or administrative sanction,
sanksi administratif, baik secara perdata ataupun pidana         whether civil or criminal, was received by the Company and
yang diterima oleh Perseroan dan Entitas Anak, serta             its Subsidiaries as well as members of the Company’s Board
anggota Dewan Komisaris dan Direksi Perseroan.                   of Commissioners and Board of Directors.




             Laporan Tahunan 2023
  244        2023 Annual Report
Page 247
                                                                                  PT SINAR MAS MULTIARTHA TBK




Sistem Pelaporan Pelanggaran
Whistleblowing System

Sebagai bagian dari upaya pencegahan terjadinya kecurangan          As part of efforts to prevent fraud and deception, the
dan penipuan, Perseroan menerapkan sistem pelaporan                 Company implements a violation reporting system
pelanggaran (whistleblowing system/WBS). Pengembangan WBS           (whistleblowing system/WBS). The development of a well-
yang terkelola dengan baik dapat menjadi fondasi bagi Perseroan     managed WBS can serves as a basis for the Company
untuk menyusun evaluasi dan tindak lanjut yang diperlukan.          to prepare any necessary evaluations and follow-up actions.



Ruang Lingkup dan Media Pelaporan                                   Scope and Reporting Media of Violation

Pelanggaran yang dapat dilaporkan melalui WBS meliputi:             Violation that can be reported through WBS includes:
1. Penyimpangan dari peraturan dan perundangan yang                 1. Violation of the prevailing laws and regulations;
    berlaku;
2. Penyalahgunaan jabatan untuk kepentingan lain di luar            2. Abuse of power for other interest outside the Company;
    Perseroan;
3. Pemerasan;                                                       3. Blackmail;
4. Benturan kepentingan; serta                                      4. Conflict of interest; and
5. Gratifikasi.                                                     5. Gratification.


Laporan dapat diajukan melalui surat dan email. Pengaduan           Report can be submitted via letter and email. Reports of
terkait dugaan pelanggaran akan ditindaklanjuti oleh Direksi        suspected violations will be followed up by Board of Directors,
U.P. Fraud Detection, Investigation, and Litigation Team (FDILT).   and Fraud Detection, Investigation, and Litigation Team (FDILT).



Perlindungan bagi Pelapor                                           Protection for Whistleblower

Perseroan senantiasa memberikan perlindungan bagi pelapor           The Company always gives protection for whistleblowers
yang telah bekerja sama menyampaikan tindak kecurangan              who have reported the suspected violation that occur
yang mungkin terjadi di lingkungan Perseroan. Perlindungan          within the Company. Protection is provided by concealing
diberikan dengan merahasiakan identitas pelapor dan informasi       the identity of the whistleblower and content reported,
yang dilaporkan, serta perlindungan terhadap tindakan               as well protection against any threat, intimidation, and
ancaman, intimidasi, dan diskriminasi di lingkungan kerja.          discrimination at work.



Pengelola dan Penanganan Pelaporan                                  Managing and Handling Reporting

Setiap pelanggaran hukum yang terjadi di Perseroan                  Any legal violations occurring in the Company will be
akan ditindaklanjuti sesuai peraturan melalui FDILT. Tim            followed up in line with prevailing regulations by FDILT.
FDILT akan memverifikasi dan menyelidiki informasi                  FDILT team will review, verify, and investigate information
penyimpangan yang diterima, lalu melaporkan hasilnya                of violation received, then report the result to the Board of
ke Dewan Komisaris dan/atau Direksi. Laporan tersebut               Commissioners and/or Board of Directors. The report will
mencakup usulan tindakan pembinaan, hukuman disiplin,               include proposed coaching, disciplinary action, and other
dan perbaikan lainnya. Keputusan yang diambil akan                  improvement measure. Decision made will be adjusted
disesuaikan dengan kebijakan atau aturan yang berlaku               to applicable policies or regulations after evaluated
setelah dievaluasi oleh Dewan Komisaris dan/atau Direksi.           by Board of Commissioners and/or Board of Directors.



Laporan Pelanggaran dan Tindak Lanjutnya                            Violation Report and Follow Up

Pada tahun 2023, Perseroan dan Entitas Anak tidak menerima          In 2023, the Company and its Subsidiaries did not receive
pengaduan atas pelanggaran yang memengaruhi individu                any complaints regarding violations affecting individuals or
dan kegiatan usaha Perseroan.                                       the Company’s business activities.




                                                                                            Laporan Tahunan 2023
                                                                                               2023 Annual Report         245
Page 248
01

02

03

04

05

      06




      LAPORAN
      KEBERLANJUTAN

      Laporan Tahunan 2023
246   2023 Annual Report
Page 249
Sustainability Report



     Laporan Tahunan 2023
        2023 Annual Report   247
Page 250
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




Tata Kelola Keberlanjutan
Sustainability Governance

Komitmen Keberlanjutan                                                Sustainability Commitment

Keseimbangan ekonomi, sosial, dan lingkungan memiliki andil           The balance of economic, social and environmental contribute
yang kuat dalam mencapai produktivitas usaha Perseroan.               strongly achieving Company's business productivity. Thus,
Maka dari itu, Perseroan dan Entitas Anak berkomitmen                 the Company and Subsidiaries are committed to implement
untuk mengimplementasikan nilai-nilai keberlanjutan dalam             sustainability values in every line of business conducted to
setiap lini bisnis usaha yang dijalankan guna mencapai                achieve sustainable business activities. The commitment
kegiatan usaha yang berkelanjutan. Komitmen tersebut                  is proven by one of the Company's Subsidiaries, PT Bank
dibuktikan melalui salah satu Entitas Anak Perseroan,                 Sinarmas Tbk (Bank Sinarmas), which has taken significant
yakni PT Bank Sinarmas Tbk (Bank Sinarmas), yang telah                steps by optimizing its banking services through digitalization as
mengambil langkah signifikan dengan mengoptimalkan                    part of adaptation efforts towards sustainable development.
layanan perbankan melalui digitalisasi sebagai bagian
dari upaya adaptasi menuju pembangunan berkelanjutan.



Pengelola Keberlanjutan                                               Sustainability Manager

Penerapan keberlanjutan di lingkungan Perseroan dikelola              The following Company’s Organs are managing the
oleh Organ Perseroan berikut.                                         implementation of sustainability within the Company.


     Organ Perseroan                                Tugas dan Tanggung Jawab terkait Keberlanjutan
     Company Organ                                 Duties and Responsibilities related to Sustainability

                            Mengawasi pengelolaan risiko ekonomi, sosial, dan lingkungan dalam pengambilan keputusan strategis
 Dewan Komisaris            dan operasional.
 Board of Commissioners     Supervise the management of economic, social, and environmental risks in strategic and operational
                            decision-making.
 Direksi                    Memastikan aktivitas bisnis yang sehat yang telah mempertimbangkan dampak sosial dan lingkungan.
 Board of Directors         Ensure healthy business activities that take into account social and environmental impacts.
 Komite Audit               Mendukung peran Dewan Komisaris dalam melakukan pengawasan.
 Audit Committee            Support the role of the Board of Commissioners in supervising.
 Audit Internal             Memastikan pengelolaan risiko keberlanjutan pada aktivitas bisnis.
 Internal Audit             Ensure the management of sustainability risks in business activities
 Unit Lain di bawah
 Direksi                    Menerapkan prinsip keberlanjutan ekonomi, sosial, dan lingkungan sesuai bidang tugasnya.
 Other Units under          Apply the principles of economic, social, and environmental sustainability according to their field of work.
 the Board of Directors




Pengembangan Kompetensi terkait                                       Competency Development related to
Aspek Keberlanjutan                                                   Sustainability Aspects

Organ Perseroan yang bertanggung jawab dalam pelaksanaan              The Company’s organs responsible for implementing
tata kelola keberlanjutan turut meningkatkan ilmu dan                 sustainable governance also improve their knowledge on
pengetahuannya terkait aspek keberlanjutan. Pada tahun                sustainability aspect. In 2023, the competency development
2023, kegiatan tersebut dilakukan secara mandiri melalui              activities were done independently through books,
buku, beragam informasi digital, jurnal, dan kanal YouTube.           various digital information, journal, and YouTube channels.




              Laporan Tahunan 2023
  248         2023 Annual Report
Page 251
                                                                                     PT SINAR MAS MULTIARTHA TBK




Tantangan Penerapan Prinsip                                          Challenges of Implementing
Keberlanjutan                                                        Sustainability Principles

Perseroan dihadapkan pada sejumlah tantangan, baik internal          The Company faces internal and external challenges in
maupun eksternal, dalam menerapkan prinsip keberlanjutan.            implementing the sustainability principles. To address these
Untuk mengatasi hal tersebut, Perseroan telah merumuskan             challenges, the Company has formulated the following
strategi berikut.                                                    strategies.


                     Tantangan                                                              Strategi
                     Challenges                                                            Strategies

                                                        Internal Perseroan
                                                        Internal Challenges
                                                         Mengikutsertakan seluruh karyawan, khususnya penanggung jawab pengelolaan
 Keterbatasan kemampuan karyawan dalam memahami
                                                         aspek keberlanjutan, dalam berbagai program pengembangan kompetensi
 dan mengembangkan pengelolaan aspek keberlanjutan.
                                                         terkait keberlanjutan.
 Limited employee’s ability to understand and develop
                                                         Involves all employees, especially those in charge of managing the sustainability
 the management of sustainability aspects.
                                                         aspect, in various competency development programs related to sustainability.
                                                        Eksternal Perseroan
                                                        External Challenges
                                                         • Menganalisis kesesuaian aktivitas operasional dengan kebijakan pemerintah
                                                           terkait keberlanjutan.
 Perubahan kebijakan dan peraturan pemerintah
                                                         • Mengelola dampak yang ditimbulkan dari aktivitas bisnis dengan baik dan
 memengaruhi aktivitas bisnis yang dijalankan.
                                                           efektif.
 Changes in government policies and regulations
                                                         • Analyzing the suitability of operational activities with government policies
 affecting the business activities conducted.
                                                           related to sustainability.
                                                         • Properly and effectively manage the impact of business activities.




                                                                                                Laporan Tahunan 2023
                                                                                                   2023 Annual Report            249
Page 252
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




Aspek Sosial
Social Aspect

Perseroan menyadari keberadaan pemangku kepentingan            The Company realizes the existence of stakeholders
berpengaruh terhadap keseimbangan bisnis jangka panjang.       is affecting the long-term business stability. Thus, the
Maka dari itu, Perseroan senantiasa berupaya untuk             Company is constantly striving to fulfill the rights of
memenuhi hak-hak karyawan, nasabah, masyarakat, dan            the employees, customers, communities, and business
mitra usaha.                                                   partners.



Aspek Ketenagakerjaan, Kesehatan, dan                          Employment, Occupational Health, and
Keselamatan Kerja                                              Safety Aspects

Kesetaraan Gender dan Kesempatan Kerja                         Gender Equality and Employment Opportunity
Perseroan menjunjung tinggi kesetaraan gender dan              The Company upholds gender equality and employment
kesempatan kerja dengan cara:                                  opportunity by:
1. Mengedepankan perlakuan yang adil terhadap karyawan,        1. Prioritizing fair treatment to employees fairly, regardless
   tanpa memandang jenis kelamin, ras, suku, agama,               of gender, race, ethnicity, religion, ethnic group or political
   etnis, atau kecenderungan politik, terutama dalam              interest, particularly related to career development in
   aspek pengembangan karier di Perseroan; dan                    the Company; and
2. Memberikan peluang kepada karyawan perempuan                2. Provide the opportunity for female employees to be
   untuk terlibat dalam posisi dan jabatan tertentu.              involved in certain positions.


Selain itu, Perseroan menjunjung tinggi kesetaraan gender      In addition, the Company also upholds gender equality
dalam merekrut karyawan baru maupun mengembangkan              in the recruitment of new employees or in developing the
kemampuan karyawan tetap. Perseroan juga senantiasa            capabilities of permanent employees. The Company also
memenuhi hak-hak karyawan wanita, seperti memberikan           strives to meet the rights of female employees, such as
cuti melahirkan selama 90 hari serta memberikan izin laktasi   providing 90 days maternity leave and granted lactation
bagi ibu menyusui di saat jam kerja.                           permit for breastfeeding mothers during work hours.


Tenaga Kerja Anak dan Tenaga Kerja Paksa                       Child Labor and Forced Labor
Perseroan berkomitmen untuk tidak merekrut tenaga kerja        The Company is committed not to recruit any worker under
di bawah usia yang telah ditetapkan, yaitu 18 tahun, dan       the established age, which is 18 years old, and is actively
berupaya secara aktif untuk mencegah eksploitasi terhadap      preventing any exploitation of employee. The company also
karyawan. Selain itu, Perseroan juga menerapkan sistem         implementing a 40 hours per week work system, to avoid
kerja selama 40 jam dalam seminggu untuk menghindari           forced labor practices.
praktik kerja paksa.


Pelatihan dan Pengembangan Kemampuan                           Employee Training and Capacity
Karyawan                                                       Development
Perseroan memberikan kesempatan yang luas kepada               The Company provides a vast opportunity for employee to
karyawan untuk melatih dan mengembangkan kemampuan             train and develop their skills. This is expected to be able to
yang dimiliki. Hal ini diharapkan dapat meningkatkan           improve the work productivity and enabling the Company to
produktivitas kerja sehingga Perseroan dapat mencapai          reach its goals optimally.
tujuan secara optimal.


Upah Minimum Karyawan                                          Employee Minimum Wage
Perseroan memberikan kompensasi kepada karyawan                The Company compensates the employee according to the
sesuai dengan standar upah minimum regional (UMR).             standard regional minimum wage (UMR). The remuneration
Imbalan atas jasa karyawan tetap golongan terendah             provided for the lowest class permanent employee is
sebesar Rp4.910.000,-lebih tinggi upah minimum DKI Jakarta     Rp4,910,000 which is higher than the minimum wage for
tahun 2023, yakni sebesar Rp4.901.798,-.                       DKI Jakarta in 2023, of Rp4,901,798.




             Laporan Tahunan 2023
  250        2023 Annual Report
Page 253
                                                                            PT SINAR MAS MULTIARTHA TBK




Lingkungan Kerja yang Layak dan Aman                           Decent and Safe Work Environment
Perseroan menyadari bahwa keselamatan dan kesehatan            The Company realizes that occupational health and safety is
kerja menjadi aspek yang penting. Maka dari itu, Perseroan     an important aspect. Therefore, the Company is providing
menyediakan sarana dan prasarana yang memadai, seperti         adequate facilities and infrastructure, such as light fire
alat pemadam api ringan (APAR), tombol darurat (fire alarm),   extinguishers (APAR), emergency buttons (fire alarm), and
serta jalan evakuasi yang aman digunakan dalam keadaan         evacuation routes that are safe to use in an emergency, so
darurat, sehingga karyawan dapat bekerja dengan layak dan      employees can work decently and safely. First Aid Kit (FAK)
aman. Pertolongan pertama pada kecelakaan (P3K) turut          boxes are also provided for employees who require medical
disediakan bagi karyawan yang membutuhkan obat-obatan          treatment when sustained a minor work accident.
apabila terjadi kecelakaan kerja ringan.


Tingkat Kecelakaan Kerja                                       Work Accident Rate
Dalam meminimalisasi kecelakaan kerja yang mungkin             In minimizing potential work accidents from occurring,
terjadi, Perseroan memberikan pemahaman kepada                 the Company provides understanding to employee on the
karyawan atas pentingnya penerapan langkah-langkah             importance of implementing work accident prevention
preventif kecelakaan kerja serta solusi atas permasalahan      measures as well as solutions to work accident problems




                                                                                     Laporan Tahunan 2023
                                                                                        2023 Annual Report        251
Page 254
06          LAPORAN KEBERLANJUTAN
            Sustainability Report




kecelakaan kerja yang tengah dihadapi. Kegiatan tersebut     currently being faced. This is conducted through socialization
dilakukan dalam bentuk sosialisasi maupun saluran media,     or media channels, such as TV Broadcasting and Email
seperti TV Broadcasting dan Email Broadcasting. Pada         Broadcasting. In 2023, there was no employee work accident
tahun 2023, tidak terdapat kecelakaan kerja karyawan di      within the Company (zero accident).
lingkungan Perseroan (zero accident).


Sarana Pengaduan Masalah Ketenagakerjaan                     Employment Dispute Management
Karyawan memiliki kesempatan untuk menyampaikan              Employee has the opportunity to submit any complaint
keluhan atau permasalahan terkait ketenagakerjaan,           or issue related to employment, occupational health and
kesehatan, dan keselamatan kerja kepada Divisi               safety to the General Affairs Division and Human Resources
General Affair dan Human Resources Development. Setiap       Development. Every report received will be handled wisely,
laporan yang diterima akan ditangani dengan bijaksana,       objectively, professionally, regardless of the position status.
obyektif, profesional, dan tanpa memandang status jabatan.


Selama 3 tahun terakhir, tidak ada laporan pengaduan         In the past 3 years, there was no employment dispute report
masalah ketenagakerjaan yang berdampak signifikan            of significant impact on the Company.
terhadap Perseroan.


Dalam rangka menjalin hubungan yang harmonis dengan          Throughout 2023, a Company's Subsidiary, PT Pasar Dana
karyawan, Entitas Anak Perseroan, PT Pasar Dana Pinjaman     Kredit (Danamas) regularly holds Town Hall & Rakuten to
(Danamas) secara rutin menyelenggarakan Town Hall &          establish a harmonious relationship with employees.
Rakuten selama tahun 2023.




            Laporan Tahunan 2023
  252       2023 Annual Report
Page 255
                                                                                       PT SINAR MAS MULTIARTHA TBK




Pengembangan Sosial dan                                                 Social and Community
Kemasyarakatan                                                          Development

Penggunaan Tenaga Kerja Lokal                                           Local Labor Policy
Perseroan memberikan peluang bagi warga sekitar                         The Company provide opportunities for communities
kantor operasional untuk bergabung menjadi bagian dari                  surrounding the operational offices to be part of the
perusahaan. Pada tahun 2023, seluruh karyawan Perseroan                 company. In 2023, all of the Company employees are
adalah warga masyarakat lokal.                                          all local residents.


Pemberdayaan Masyarakat Sekitar                                         Community Empowerment
Perseroan menyadari bahwa keberadaan masyarakat                         The Company realizes that it need to consider the existence
sekitar perlu diperhatikan sebagai bentuk kepedulian sosial.            of the surrounding communities, as a part of social concern.
Maka dari itu, Perseroan memberikan penyelenggaraan                     Thus, the Company is providing trainings and provision of
pelatihan dan pemberian bantuan, khususnya bagi UMKM,                   donations, especially for MSMEs, as well as other programs
serta program lain yang dikelompokkan ke dalam program                  which are grouped into education, financial inclusion
pendidikan, inklusi dan literasi keuangan, serta kesehatan.             and literacy, and health programs. The Company hopes
Perseroan berharap program tersebut dapat meningkatkan                  that these programs will be able to improve the welfare
kesejahteraan dan kemandirian ekonomi masyarakat.                       and economic independence of the communities.


Program pendidikan dilaksanakan melalui pemberian beasiswa,             The education program is conducted through the
sementara inklusi dan literasi keuangan diberikan kepada                provision of scholarships, while Financial inclusion and
masyarakat untuk memperluas akses dan meningkatkan                      literacy are provided to the public to expand the access
pemahaman terhadap layanan keuangan. Program kesehatan                  and increase public knowledge of financial services.
dilaksanakan melalui penyelenggaraan pengobatan gratis                  While the health program is implemented through the
dan kegiatan donor darah yang diselenggarakan bekerja                   provision of free medical treatment and blood donation in
sama dengan Palang Merah Indonesia (PMI).                               collaboration with Indonesian Red Cross (PMI).


Perbaikan Sarana dan Prasarana                                          Social Facilities and Infrastructure
Sosial                                                                  Improvement
Perseroan dan Entitas Anak memberikan dukungan untuk                    On an ongoing basis, the Company and its Subsidiaries assisted
perbaikan atau pembangunan sarana sosial seperti tempat                 in improving or constructing social facilities, such as places of
ibadah, sekolah, fasilitas sanitasi, dan berbagai sarana                worship, schools, sanitation facilities, and various other social
sosial lainnya kepada masyarakat sekitar wilayah operasional.           facilities to communities surrounding the operational areas.


Donasi Lainnya                                                          Other Donations
Perseroan dan Entitas Anak juga memberikan bantuan                      The Company and its Subsidiaries also provided other
bentuk lain, seperti dukungan untuk korban bencana alam,                forms of assistances, such as supports for victims of natural
penyerahan hewan qurban, dan juga penggalangan dana                     disasters, the delivery of sacrificial animals, and waqf of
untuk waqaf Al-Qur’an.                                                  the Qur’an.


Beragam program pengembangan sosial dan kemasyarakatan                  The Company and its subsidiaries have implemented
yang dilaksanakan oleh Perseroan dan Entitas Anak                       various social and community development programs, as
diungkapkan sebagai berikut.                                            described below.



PT Sinar Mas Multiartha Tbk (Perseroan)                                 PT Sinar Mas Multiartha Tbk (Perseroan)


                                                                 2023

                                                              Pendidikan
                                                               Education
 Perseroan menandatangani kesepakatan kerja sama dengan SMK Ananda Bekasi tentang Pelaksanaan Praktik Kerja Industri dibantu oleh
 Eka Tjipta Foundation (ETF). Selain itu, Perseroan turut memberikan bantuan dalam rangka CSR ke SMK tersebut sebesar Rp1.089.395.475,-.
 The Company signed a cooperation agreement with SMK Ananda Bekasi on the Implementation of Industrial Work Practices assisted by the
 Eka Tjipta Foundation (ETF). The Company also provided CSR assistance to the SMK in the amount of Rp1,089,395,475.




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report         253
Page 256
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




                                                                2022

                                                              Pendidikan
                                                               Education
Melanjutkan program pendidikan di tahun 2021, Perseroan memberikan bantuan secara langsung ke SMK Ananda Bekasi sebesar Rp245,90 juta.
Continuing the education program in 2021, the Company provided direct assistance to SMK Ananda Bekasi in the amount of Rp245.90 million.



                                                                2021

                           Pendidikan                                                         Donasi Lainnya
                            Education                                                         Other Donations
Pada 30 April 2021, Perseroan menandatangani kesepakatan kerja       Perseroan, melalui Bank Sinarmas, berpartisipasi memberikan
sama dengan SMK Ananda Bekasi tentang Pelaksanaan Praktik            bantuan berupa minyak goreng dengan nilai sebesar Rp13,52 miliar.
Kerja Industri dan Penyerapan Lulusan yang dalam pelaksanaannya
dibantu oleh Eka Tjipta Foundation. Biaya yang dikeluarkan
Perseroan untuk kegiatan ini mencapai Rp1,22 miliar.
On 30 April 2021, the Company signed a cooperation agreement         Donations from Bank Sinarmas by participating in the distribution of
with SMK Ananda Bekasi on the Implementation of Industrial Work      cooking oil worth Rp13.52 billion.
Practices and Graduate Absorption, which was assisted by the Eka
Tjipta Foundation. The Company has spent a total expense of Rp1.22
billion for this activity.




             Laporan Tahunan 2023
 254         2023 Annual Report
Page 257
                                                                                           PT SINAR MAS MULTIARTHA TBK




PT Bank Sinarmas Tbk                                                        PT Bank Sinarmas Tbk
Dalam menerapkan program keuangan berkelanjutan, Bank                       In implementing the sustainable finance program, Bank
Sinarmas telah memberikan dampak yang langsung maupun                       Sinarmas has provided direct and indirect impact on
tidak langsung kepada masyarakat di sekitar. Program                        the surrounding communities. The MSME development
pembinaan UMKM, pengelolaan limbah lingkungan, dan                          program, environmental waste management, and reading
promosi literasi membaca yang dijalankan oleh Divisi                        literacy promotion carried out by the Corporate Secretary
Corporate Secretary bekerja sama dengan unit-unit terkait,                  Division in coordination with related work units are
telah memberikan pemberdayaan kepada masyarakat lokal.                      able to empower the surrounding communities.


Sebagai entitas di sektor perbankan, Bank Sinarmas                          As an entity in the banking sector, Bank Sinarmas
juga aktif dalam mengembangkan program sosial dan                           also   actively   developing   social and    community
kemasyarakatan dengan menyediakan literasi keuangan                         programs through the provisions of financial literacy
dan inklusi finansial kepada masyarakat. Hal ini merupakan                  and financial inclusion to the community. This is a part
bagian dari tanggung jawab Bank Sinarmas dalam                              of Bank Sinarmas' responsibility to provide benefits
memberikan manfaat bagi lingkungan dan masyarakat                           to the environment and local communities. The
setempat. Pelaksanaan program pengembangan sosial dan                       implementation of Bank Sinarmas' social and community
kemasyarakatan Bank Sinarmas dijelaskan sebagai berikut.                    development program is described as follows.


                                                                     2023

                   Edukasi dan Literasi Keuangan                                                      Kesehatan
                  Financial Education and Literacy                                                      Health
 Dalam rangka memenuhi target capaian program literasi dan inklusi       Sepanjang tahun 2023, Bank Sinarmas Program Tahunan Donor
 keuangan, Bank Sinarmas terus menggunakan inovasi digital dan           Darah Bersama Palang Merah Indonesia dilaksanakan sebanyak 3
 teknologi informasi. Pada tahun 2023, program dan kegiatan literasi     kali dengan total 255 kantong darah yang diterima. Alokasi dana
 dan inklusi keuangan yang dilaksanakan oleh Bank Sinarmas, antara       yang dikeluarkan untuk program ini mencapai Rp19.500.000,-.
 lain Kegiatan FinExpo Tahun 2023 di Yogyakarta dengan total biaya
 sebesar Rp78.000.000,-
 In meeting its financial literacy and inclusion program achievement     Throughout 2023, Bank Sinarmas' Annual Blood Donation Program
 targets, Bank Sinarmas continues using digital innovation and           in collaboration with Indonesian Red Cross was held 3 times with a
 information technology. In 2023, Bank Sinarmas implemented              total of 255 blood bags received. A total fund of Rp19,500,000 was
 the financial literacy and inclusion program and activities,            allocated for this program.
 including 2023 FinExpo Activities in Yogyakarta with a total cost of
 Rp78,000,000.
                                                                  Pendidikan
                                                                   Education
 Melakukan pengembangan Kebun Baca Bank Sinarmas kepada                  Melaksanakan CSR 200 buku tulis dalam rangka menunjang kegiatan
 Taman Bacaan Masyarakat Lentera Pustaka dengan biaya sebesar            belajar mengajar para siswa-siswi di wilayah Masjid An Nur (Bumisari)
 Rp70.650.000,-.                                                         Jakarta Selatan dengan biaya sebesar Rp1.140.000,-.
 Developing the Bank Sinarmas Reading Park with Lentera Pustaka          Handed over CSR donation of 200 notebooks to support students’
 Community Reading Park with a cost of Rp70,650,000.                     teaching and learning activities in An Nur Mosque area (Bumisari)
                                                                         South Jakarta with a cost of Rp1,140,000.
 Melaksanakan Kunjungan Industri Himpunan Mahasiswa Elektronika dan Informatika Fakultas Teknik Universitas Negeri Yogyakarta dalam
 rangka Pembelajaran QRIS dan Produk Bank dengan biaya sebesar Rp85.500.000,-.
 Conducted an Industrial Visit of Electronics and Informatics Students Association, Faculty of Engineering, Yogyakarta State University to learn
 about QRIS and Bank Products with a cost of Rp85,500,000.
                                                  Perbaikan Sarana dan Prasarana Sosial
                                             Social Facilities and Infrastructure Improvement
 Melaksanakan perbaikan rumah tidak layak huni Kota Solo dengan          Memberikan bantuan karpet Mushollah Ar-Raudhah dengan biaya
 biaya sebesar Rp26.061.699,-.                                           sebesar Rp8.000.000.-.
 Renovated uninhabitable houses in Solo City with a cost of              Donated praying carpet in Ar-Raudhah Mushollah with a cost of
 Rp26,061,699.                                                           Rp8,000,000.
 Melaksanakan pembangunan Gedung Baru SMA Santo Bernardus Kota Pekalongan dengan biaya sebesar Rp10.000.000,-.
 Constructed a new building in SMA Santo Bernardus, Pekalongan City with a cost of Rp10,000,000.




                                                                                                      Laporan Tahunan 2023
                                                                                                         2023 Annual Report            255
Page 258
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




                                                                     2023

                                                         Pemberdayaan Masyarakat
                                                         Community Empowerment

Melaksanakan pembinaan usaha pengolahan limbah peternakan sapi menjadi media tanam briket. Bank Sinarmas bekerja sama dengan
PT Songsong Buwono Lestari dan Yayasan Harapan Lingkungan Hidup melakukan inisiasi program kemitraan berbasis pemberdayaan
masyarakat di Desa Taro, Bali. Melalui teknologi mikro organisme lokal (MOL), limbah peternakan diolah menjadi produk briket tanam yang
memiliki nilai ekonomi, sehingga berdampak pada peningkatan taraf ekonomi masyarakat. Program ini mendukung Tujuan Pembangunan
Berkelanjutan: tujuan 1 tanpa kemiskinan, tujuan 2 tanpa kelaparan, tujuan 3 kehidupan sehat dan sejahtera, tujuan 4 pendidikan berkualitas,
tujuan 6 air bersih dan sanitasi layak, tujuan 7 energi bersih dan terjangkau, tujuan 8 pekerjaan layak dan pertumbuhan ekonomi, tujuan
9 industri, inovasi dan infrastruktur tujuan 12 konsumsi dan produksi yang bertanggung jawab, tujuan 13 penganganan perubahan iklim,
tujuan 15 ekosistem daratan, dan tujuan 17 kemitraan untuk mencapai tujuan. Total biaya untuk pemberdayaan masyarakat sebesar
Rp303.387.000,-.
Conducted business coaching to process cattle farm waste into briquette planting media. Bank Sinarmas in collaboration with PT Songsong
Buwono Lestari and Yayasan Harapan Lingkungan Hidup initiated a community empowerment-based partnership program in Taro Village,
Bali. Using local microorganism (MOL) technology, livestock waste is processed into planting briquette product with economic value, thus
contributing to the improvement of the community’s economic status. This program aligns with the Sustainable Development Goals: goal 1
no poverty, goal 2 zero hunger, goal 3 good health and well-being, goal 4 quality education, goal 6 clean water and sanitation, goal 7 affordable
and clean energy, goal 8 decent work and economic growth, goal 9 industry, innovation and infrastructure, goal 12 responsible consumption
and production, goal 13 climate action, goal 15 life on land, and goal 17 partnerships for the goals. Total cost for community empowerment is
Rp303,387,000.

                                                               Donasi Lainnya
                                                               Other Donations

Memberikan donasi berupa sembako untuk korban gempa Cianjur               Memberikan bantuan kepada korban banjir di Kota Semarang
dengan biaya sebesar Rp54.000.000,-.                                      sebesar Rp2.424.259,-.
Providing basic food donations for Cianjur earthquake victims with a      Giving donations worth Rp2,424,259 to flood victims in Semarang
cost of Rp54,000,000.                                                     City.

Menyelenggarakan bazar minyak goreng KCS Cirebon dengan biaya             Memberikan 2.580 liter minyak goreng kepada keluarga besar
sebesar Rp4.432.000,-.                                                    Tentara Nasional Indonesia (TNI) dan Kepolisian Negara Republik
                                                                          Indonesia (Polri) dengan biaya sebesar Rp47.374.602,-.
Organized KCS Cirebon cooking oil bazaar with a cost of Rp4,432,000.      Providing 2,580 liters of cooking oil to families of Indonesian National
                                                                          Army (TNI) and Indonesian National Police (Polri) with a cost of
                                                                          Rp47,374,602.

Memberikan 1.200 liter minyak goreng kepada masyarakat                    Menyelenggarakan bazar minyak goreng murah, bekerja sama
Kendalpayak, Malang, dengan biaya sebesar Rp21.957.501,-.                 dengan Komando Resor Militer 071 Wijayakusuma Pekalongan, Jawa
                                                                          Tengah dengan biaya sebesar Rp6.929.028,-.
Providing 1,200 liters of cooking oil for the community of Kendalpayak,   Organized cheap cooking oil bazaar, collaborated with Military
Malang, with a cost of Rp21,957,501.                                      Resort Command 071 Wijayakusuma Pekalongan, Central Java with
                                                                          a cost of Rp6,929,028.

Memberikan 417 karton minyak goreng kepada masyarakat Jawa                Memberikan donasi sembako dalam rangka memperingati Isra Miraj
Timur dengan biaya sebesar Rp87.896.861,-.                                1444 H untuk rumah tangga yang kurang mampu di wilayah Jakarta
                                                                          Barat dengan biaya sebesar Rp66.300.000,-.
Providing 417 cartons of cooking oil for the community of East Java       Providing basic food donations to commemorate Isra Miraj 1444 H
with a cost of Rp87,896,861.                                              for underprivileged households in West Jakarta area with a cost of
                                                                          Rp66,300,000.

Memberikan 840 liter minyak goreng kepada masyarakat di Tanah             Memberikan bantuan modal untuk UMKM Perhimpunan Perempuan
Abang dengan biaya sebesar Rp17.040.000,-.                                Lintas Profesi Indonesia dengan biaya sebesar Rp24.000.000,-.
Providing 840 liters of cooking oil for the community in Tanah Abang      Providing capital assistance for Indonesian Inter-Professional
with a cost of Rp17,040,000.                                              Women's Association MSMEs with a cost of Rp24,000,000.

Memberikan 670 karton minyak goreng kepada masyarakat yang                Memberikan donasi Idul Adha Polda Metro Jaya dengan biaya
kurang mampu di wilayah Jawa Tengah dengan biaya sebesar                  sebesar Rp216.200.000,-.
Rp154.100.000,-.
Providing 670 cartons of cooking oil to underprivileged communities       Providing an Idul Adha donation to Polda Metro Jaya with a cost of
in Central Java area with a cost of Rp154,100,000.                        Rp216,200,000.

Memberikan 3 ekor sapi oleh KC Banyuwangi dengan biaya sebesar            Memberikan 317 karton minyak goreng dan 30 dus Pristine ke
Rp60.000.000,-.                                                           wilayah Demak dan Jakarta dengan biaya sebesar Rp71.345.281,-.
Providing 3 cows by KC Banyuwangi with a cost of Rp60,000,000.            Providing 317 cartons of cooking oil and 30 boxes of Pristine to
                                                                          Demak and Jakarta areas with a cost of Rp71,345,281.-.

Menyerahkan hewan Qurban dalam rangka memperingati Hari Raya              Menyerahkan hewan Qurban berupa sapi untuk Polda Metro Jaya
Idul Adha 1444 H ke Polsek Bandara Soekarno Hatta dengan biaya            dengan biaya sebesar Rp48.000.000,-.
sebesar Rp72.000.000,-.
Handed over sacrificial animals to commemorate Eid al-Adha 1444 H         Handed over cows as sacrificial animals to Polda Metro Jaya with a
to Soekarno Hatta Airport Police with a cost of Rp72,000,000.             cost of Rp48,000,000.




              Laporan Tahunan 2023
 256          2023 Annual Report
Page 259
                                                                                          PT SINAR MAS MULTIARTHA TBK




                                                                    2023

Melaksanakan kegiatan sosial bersama Polda Metro Jaya dengan             Memberikan bantuan 300 karton minyak goreng kepada organisasi
biaya sebesar Rp73.191.336,-.                                            Bhayangkari dengan biaya sebesar Rp75.600.000,-.
Conducted social activities with Polda Metro Jaya with a cost of         Providing 300 cartons of cooking oil for Bhayangkari organization
Rp73,191,336.                                                            with a cost of Rp75,600,000.
Memberikan donasi sembako untuk Komunitas Anak Jalanan oleh              Melaksanakan kegiatan sosial Kaki Palsu Bank Sinarmas dan Tzu Chi
Polsek Menteng dengan biaya sebesar Rp28.266.000,-.                      Sinar Mas dengan biaya sebesar Rp8.500.000,-.
Providing basic food donations for Street Children Community with        Conducted social activity of Prosthetic Legs provisions by Bank
Polsek Menteng with a cost of Rp28,266,000.                              Sinarmas and Tzu Chi Sinar Mas with a cost of Rp8,500,000.
Menyumbang hewan Qurban 2023 melalui MNC Peduli dengan                   Memberikan donasi hewan Qurban dalam rangka memperingati
biaya sebesar Rp22.000.000,-.                                            Hari Raya Idul Adha 1444 H kepada Pengurus Rohani Islam
                                                                         PT Pegadaian dengan biaya sebesar Rp30.000.000,-.
Donated 2023 sacrificial (Qurban) animals via MNC Care with a cost       Donated sacrificial animals to commemorate Eid al-Adha 1444 H
of Rp22,000,000.                                                         for Islamic Spiritual Management of PT Pegadaian with a cost of
                                                                         Rp30,000,000.
Memberikan 2000 pocket sarung, minyak goreng, beras, dan gula            Memberikan Qurban berupa sapi dalam rangka memperingati Hari
oleh KC Banyuwangi dengan biaya sebesar Rp227.252.176,-.                 Raya Idul Adha 1444 H kepada warga TBM Lentera Pustaka dengan
                                                                         biaya sebesar Rp30.000.000,-.
Providing 2000 pocket sarongs, cooking oil, rice and sugar by KC         Providing cow as Qurban animal to commemorate Eid al-Adha 1444 H
Banyuwangi with a cost of Rp227,252,176.                                 to TBM Lentera Pustaka community with a cost of Rp30,000,000.
Memberikan bingkisan Ramadhan 1444 H kepada tenaga outsourcing,          Menyelenggarakan buka puasa bersama Bank Sinarmas dengan
khususnya tenaga support (security, office boy/girl, cleaning service,   biaya sebesar Rp448.795.421,-.
driver, serta ekspedisi) yang berada di kantor pusat non operasional
Thamrin dan Roxy Square dengan biaya sebesar Rp36.952.602,-.
Providing Ramadhan 1444 H gifts for outsourcing personnel,               Organized break fasting activity with Bank Sinarmas with a cost of
especially support personnel (security, office boy/girl, cleaning        Rp448,795,421.-.
service, drivers, and expeditions) at Thamrin and Roxy Square non-
operational head offices with a cost of Rp36,952,602.
Melaksanakan kegiatan Berkah Takjil Ramadhan dengan biaya                Memberikan sembako Hari Raya Idul Fitri dengan biaya sebesar
sebesar Rp45.350.000,-.                                                  Rp50.000.000,-.
Conducted Ramadhan Takjil Blessing activities with a cost of             Providing basic food donations for Eid al-Fitr with a cost of
Rp45,350,000.                                                            Rp50,000,000.
Memberikan donasi sembako untuk pedagang kaki lima di wilayah            Memberikan donasi sembako kepada Yayasan Panti Sosial Anak
Jakarta Selatan dengan biaya sebesar Rp151.200.000,-.                    Asuhan Ibu Yoyoh Maesaroh dengan biaya sebesar Rp40.500.000,-.
Providing basic food donations for street vendors in South Jakarta       Providing basic food donations for Social Care Foundation for
area with a cost of Rp151,200,000.                                       Orphaned Children Ibu Yoyoh Maesaroh with a cost of Rp40,500,000.
Memberikan donasi sembako kepada Hajar Aswad Tani Indonesia              Memberikan bantuan kebutuhan pangan kepada masyarakat di
dengan biaya sebesar Rp99.600.000,-.                                     wilayah Jakarta Utara dan Jakarta Barat dengan biaya sebesar
                                                                         Rp92.250.000,-.
Providing basic food donations for Hajar Aswad Tani Indonesia with       Providing food assistance for communities in North Jakarta and West
a cost of Rp99,600,000.                                                  Jakarta areas with a cost of Rp92,250,000.
Memberikan dukungan peningkatan prestasi dan kesejahteraan atlet dan mantan atlet Indonesia dengan Pasar Modal Indonesia dengan
biaya sebesar Rp25.000.000,-.
Providing assistance to improve the performance and welfare of Indonesian athletes and ex-athletes with Indonesian Capital Market with a
cost of RP25,000,000.



                                                                    2022

                                                      Edukasi dan Literasi Keuangan
                                                     Financial Education and Literacy
Kegiatan Bulan Inklusi Keuangan Tahun 2022 di Jakarta dengan total       Kegiatan Bulan Inklusi Keuangan iB Tahun 2022 di Jakarta dengan
dana sebesar Rp80.475.000,-.                                             total dana sebesar Rp20.535.000,-.
Financial Inclusion activities 2022 in Jakarta with total funds of       iB Financial Inclusion activities 2022 in Jakarta with total funds of
Rp80,475,000                                                             Rp20,535,000.
Kegiatan Bulan Inklusi Keuangan Tahun 2022 di Pontianak dengan total dana sebesar Rp6.104.200,-.
Financial Inclusion activities in 2022 in Pontianak with total funds of Rp6,104,200.
                                                                 Pendidikan
                                                                  Education
Program Tanggung Jawab Sosial dan Lingkungan (TJSL) Korporasi pengembangan kebun baca Bank Sinarmas kepada Taman Bacaan
Masyarakat Lentera Pustaka dengan dana sebesar Rp101.200.000,-.
Corporate Social and Environmental Responsibility (CSR) Program, Donating Rp101,200,000 to Lentera Pustaka Community Reading Park for
developing Bank Sinarmas’ community reading park.




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report           257
Page 260
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




                                                                   2022

Memberikan 400 buku tulis dalam rangka menunjang kegiatan               Memberikan 200 buku tulis dalam rangka menunjang kegiatan
belajar mengajar para siswa-siswi Sekolah Dasar (SD) di wilayah         belajar-mengajar para siswa-siswi SD di wilayah komunitas GP
Nusa Tenggara Timur, Sumba Timur Manggarai, Kupang, dengan              Anshor wilayah kecamatan Jawa Tengah dan Jawa Barat dengan total
total dana sebesar Rp1.223.100,-.                                       dana sebesar Rp 694.500,-.
Providing 400 notebooks to support teaching and learning activities     Providing 200 notebooks support teaching and learning activities of
of elementary school students in the East Nusa Tenggara region, East    elementary school students in GP Anshor community area in Central
Sumba Manggarai, Kupang, with total funds of Rp1,223,100.               Java and West Java sub-districts with total funds of Rp694,500.

                                                                Kesehatan
                                                                  Health

Mengalokasikan dana untuk Program Tahunan Donor Darah Bersama Palang Merah Indonesia sebanyak 3 kali dengan total 234 kantong
darah yang diterima, dengan total dana sebesar Rp18.000.000,-.
Allocated funds for the Annual Blood Donation Program with the Indonesian Red Cross, held 3 times with a total of 234 blood bags received
and total funds of Rp18,000,000.

                                                Perbaikan Sarana dan Prasarana Sosial
                                           Social Facilities and Infrastructure Improvement

Bank Sinarmas, bersama dengan Dinas Lingkungan Hidup Kabupaten          Memberikan bantuan sarana prasarana Posyandu Lingkup Jakarta
Sarolangun, membantu pemeliharaan Ruang Terbuka Hijau (RTH)             Barat dengan total dana sebesar Rp264.544.000,-.
dan Hutan Kota Kabupaten Sarolangun, Jambi, dengan pengecatan
krap taman tepi lalu lintas dengan total dana sebesar Rp7.000.000,-.
Bank Sinarmas, in collaboration with the Environmental Agency of        Providing infrastructure assistance for Posyandu in West Jakarta with
Sarolangun Regency, provided support for the upkeep of the Green        total funds of Rp264,544,000.
Open Spaces (RTH) and Urban Forest of Sarolangun Regency, Jambi.
This was done by using a funding of Rp7,000,000 to paint the cracks
of the park located near the traffic area.

                                                       Pemberdayaan Masyarakat
                                                       Community Empowerment

Pembinaan usaha pengolahan limbah peternakan sapi menjadi media tanam briket. Bank Sinarmas, bekerja sama dengan PT Songsong
Buwono Lestari, melakukan inisiasi program kemitraan berbasis pemberdayaan masyarakat di Desa Sukajaya, Lembang, Jawa Barat. Melalui
teknologi Mikro Organisme Lokal (MOL), limbah peternakan diolah menjadi produk briket tanam yang memiliki nilai ekonomi sehingga
berdampak pada peningkatan taraf ekonomi masyarakat. Program ini mendukung Tujuan Pembangunan Berkelanjutan (TPB), yakni Tujuan
7 energi bersih dan terjangkau, Tujuan 12 konsumsi dan produksi yang bertanggung jawab, dan Tujuan 17 kemitraan untuk mencapai
tujuan. Total dana yang dikeluarkan sebesar Rp261.485.000,-.
Bank Sinarmas collaborated with PT Songsong Buwono Lestari to initiate a partnership program in Sukajaya Village, Lembang, West Java,
aimed at empowering the community through business coaching on processing cattle farm waste into briquette planting media. This
program utilizes Micro Local Organism (MOL) technology to convert livestock waste into planting briquette products with economic value,
thus contributing to the improvement of the community’s economic status. The program aligns with the Sustainable Development Goals
(SDGs), specifically Goal 7 on clean and affordable energy, Goal 12 on responsible consumption and production, and Goal 17 on partnerships
to achieve goals. The total funding allocated for the program was Rp 261,485,000.

Memberikan bantuan CSR bersama PT Pabrik Kertas Tjiwi Kimia             Mengadakan program penghijauan tanaman bibit kopi oleh Yayasan
Tbk dalam melakukan penanaman Pohon Kaliandra di area sekitar           Ngoedi Lestari Santoso dengan total dana sebesar Rp10.400.000,-.
pabrik di Kantor Cabang Mojokerto dengan total dana sebesar
Rp18.250.000,-.
Held a reforestation program for coffee seedlings by the Ngoedi         Held a reforestation program for coffee seedlings by the Ngoedi
Lestari Santoso Foundation with total funds of Rp10,400,000.            Lestari Santoso Foundation with total funds of Rp10,400,000.
Providing CSR assistance with PT Tjiwi Kimia Paper Factory Tbk to
plant Kaliandra Trees in area around the factory at Mojokerto Branch
Office with total funds of Rp18,250,000.

                                                             Donasi Lainnya
                                                             Other Donations

Memberikan 2.004 liter minyak goreng untuk ITB Ahmad Dahlan             Memberikan sembako kepada warga sekitar Pondok Pesantren
dengan total dana sebesar Rp28.056.000,-.                               Sa’adatuddaroin dengan total dana sebesar Rp23.000.000,-
Provided 2,004 liters of cooking oil for ITB Ahmad Dahlan with total    Providing staple food to residents around Sa’adatuddaroin Islamic
funds of Rp28,056,000.                                                  Boarding School with total funds of Rp23,000,000.

Memberikan donasi kepada korban banjir Serang, Banteng dengan           Memberikan 5 dus minyak goreng 1 liter ke Polda Lampung dengan
total dana sebesar Rp22.496.000,-                                       total dana sebesar Rp1.425.000,-.
Giving donations to flood victims in Serang, Banteng with total funds   Providing 5 boxes of 1 liter cooking oil to Lampung Police with total
of Rp22,496,000.                                                        funds of Rp1,425,000.

Memberikan donasi sembako kepada warga di kawasan Jakarta               Memberikan donasi sembako kepada warga di kawasan Jakarta
Barat dengan total dana sebesar Rp50.000.000,-.                         Barat dengan total dana sebesar Rp30.000.000,-.
Providing basic food donations to residents in the West Jakarta area    Providing staple food donations to residents in West Jakarta area
with total funds of Rp50,000,000.                                       with total funds of Rp30,000,000.




             Laporan Tahunan 2023
 258         2023 Annual Report
Page 261
                                                                                            PT SINAR MAS MULTIARTHA TBK




                                                                     2022

Memberikan donasi pembangunan Pondok Pesantren Mashlahul                  Memberikan 10.008 liter minyak goreng untuk Pondok Pesantren
Anwar Kendal, Jawa Tengah, dengan total dana sebesar Rp50.000.000,-.      Sa’adatuddaroin di wilayah Kabupaten Bandung, Jawa Barat dan Kota
                                                                          Demak, Jawa Tengah, dengan total dana sebesar Rp140.112.000,-.
Donating a total fund of Rp50,000,000 for the construction of Mashlahul   Providing 10,008 liters of cooking oil for Sa’adatuddaroin Islamic
Anwar Islamic Boarding School in Kendal, Central Java.                    Boarding Schools in Bandung Regency, West Java and Demak City,
                                                                          Central Java, with total funds of Rp140,112,000.
Memberikan donasi bazar minyak goreng bersama Lembaga Ekonomi             Memberikan donasi sembako di wilayah Jakarta dan sekitarnya
Umat Majelis Ulama Indonesia (MUI) dengan total dana sebesar              dengan total dana sebesar Rp126.900.000,-.
Rp287.690.905,-.
Donating cooking oil bazaar with the Indonesian Ulema Council (MUI)       Providing staple food donations in Jakarta and surrounding areas
Umat Economic Institute with total funds of Rp287,690,905.                with total funds of Rp126,900,000.
Memberikan donasi 480 kardus minyak goreng ke 5 titik, meliputi           Memberikan 360 liter minyak goreng ke masyarakat Gresik dengan
Brebes, Demak, Tangerang, Depok, dan Gresik, dengan total dana            total dana sebesar Rp8.241.070,-.
sebesar Rp134.000.000,-
Donating 480 boxes of cooking oil to 5 points, including Brebes, Demak,   Providing 360 liters of cooking oil to the people of Gresik with total
Tangerang, Depok, and Gresik, with total funds of Rp134,000,000.          funds of Rp8,241,070.
Memberikan 165 kotak minyak goreng ke masyarakat luas dengan              Memberikan 209 kardus minyak goreng ke masyarakat Malang
total dana sebesar Rp25.739.987,-.                                        dengan total dana sebesar Rp57.432.117,-.
Providing 165 boxes of cooking oil to the wider community with total      Giving 209 boxes of cooking oil to the people of Malang with total
funds of Rp25,739,987.                                                    funds of Rp57,432,117
Donasi hewan kurban bersama Kepolisian Negara Republik Indonesia          Donasi hewan kurban bersama MNC Peduli dengan total dana
(Polri) dengan total dana sebesar Rp47.500.000,-                          sebesar Rp21.500.000,-
Donating sacrificial animals with the Indonesian National Police          Donating sacrificial animals with MNC Peduli with total funds of
(Polri) with total funds of Rp47,500,000.                                 Rp21,500,000
Memberikan bantuan peningkatan kesejahteraan masyarakat                   Memberikan donasi sembako bersama Kepolisian Resor (Polres)
wilayah Jakarta Utara dengan total dana sebesar Rp249.000.000,-           Jakarta Barat dengan total dana sebesar Rp75.000.000,-.
Providing assistance to improve the welfare of the North Jakarta area     Donating staple food with the West Jakarta Police (Polres) with total
with total funds of Rp249,000,000.                                        funds of Rp75,000,000.
Memberikan donasi sembako bersama Polres Jakarta Timur dengan             Memberikan donasi 1.000 kardus minyak goreng bersama Arus Baru
total dana sebesar Rp60.000.000,-.                                        Indonesia (ARBI) dengan total dana sebesar Rp240.000.000,-.
Donating staple food with the East Jakarta Police with total funds of     Donating 1,000 boxes of cooking oil with Arus Baru Indonesia (ARBI)
Rp60,000,000.                                                             with total funds of Rp240,000,000.
Memberikan 2.400 pouch minyak goreng untuk masyarakat Kendalpayak,        Memberikan 542 kardus minyak goreng bersama Kepolisian Air dan
Kabupaten Malang, dengan total dana sebesar Rp54.958.965,-.               Udara Polri dengan total dana sebesar Rp124.660.000,-
Providing 2,400 pouches of cooking oil for the community of               Providing 542 boxes of cooking oil together with the Air and Water
Kendalpayak, Malang Regency, with total funds of Rp54,958,965.            Police with total funds of Rp124,660,000.
Memberikan donasi sembako bersama Polres Depok dengan total               Memberikan donasi sembako wilayah Jakarta Utara dengan total
dana sebesar Rp45.000.000,-.                                              dana sebesar Rp20.000.000,-.
Donating staple food with Depok Police with total funds of                Donating staple food in the North Jakarta area with total funds of
Rp45,000,000                                                              Rp20,000,000
Melakukan kegiatan kolaborasi dan integrasi Tentara Nasional Indonesia    Memberikan donasi sembako bersama Polres Bekasi dengan total
(TNI) Angkatan Darat dan Polri KC Bandung dengan total dana sebesar       dana sebesar Rp50.000.000,-.
Rp12.500.000,-.
Conducting collaboration and integration activities of the Indonesian     Donating staple food with Bekasi Police with total funds of
National Army (TNI) and the Bandung KC Police with total funds of         Rp50,000,000
Rp12,500,000.
Memberikan bantuan donasi gempa bumi Cianjur oleh Bank                    Memberikan bantuan donasi untuk korban bencana gempa bumi
Sinarmas Kantor Cabang Sukabumi dengan total dana sebesar                 Cianjur melalui IJK Peduli Bencana dengan total dana sebesar
Rp18.078.675,-.                                                           Rp100.000.000,-.
Providing donations for victims of the Cianjur earthquake disaster        Providing donations for victims of the Cianjur earthquake disaster
by Bank Sinarmas Sukabumi Branch Office with total funds of               through IJK Disaster Care with a total fund of Rp100,000,000.
Rp18,078,675.
Memberikan bingkisan Ramadhan 1442 H kepada tenaga outsourcing            Menyelenggarakan kegiatan buka puasa bersama dengan Yayasan
khususnya tenaga support (security, office boy/girl, cleaning service,    Al-Fath Bekasi dengan total dana sebesar Rp26.206.339,-.
driver, serta ekspedisi) yang berada di KPNO Thamrin dan KPNO Roxy
Square dengan total dana sebesar Rp22.171.200,-.
Providing Ramadan 1442 H gifts to outsourced workers, especially          Organizing break fasting activities with Al-Fath Bekasi Foundation
support workers (security, office boy/girl, cleaning service, drivers,    with total funds of Rp26,206,339.
and expeditions) at KPNO Thamrin and KPNO Roxy Square with total
funds of Rp22,171,200
Melakukan kegiatan berkah takjil Ramadhan dengan total dana sebesar Rp25.000.000,-.
Conducted Ramadan takjil blessing activities with total funds of Rp25,000,000.




                                                                                                      Laporan Tahunan 2023
                                                                                                         2023 Annual Report            259
Page 262
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




                                                                    2021

                  Edukasi dan Literasi Keuangan                                                      Pendidikan
                 Financial Education and Literacy                                                     Education

Bertajuk “Satu Rekening Satu Pelajar, Wujudkan Impian Anak Indonesia”,   Sebagai bentuk dukungan untuk meningkatkan kegemaran membaca,
sesuai dengan program Otoritas Jasa Keuangan, Bank Sinarmas              pengetahuan, dan keterampilan masyarakat sehingga menjadi
menggelar edukasi literasi keuangan secara virtual ke Taman Bacaan       masyarakat mandiri dan sejahtera, Bank Sinarmas memberikan
Lentera Pustaka di Kaki Gunung Salak Bogor.                              bantuan kepada Taman Bacaan Masyarakat Lentera Pustaka.
Titled “One Account, One Student - Realizing the Dreams of Indonesian    As a form of support to increase people’s love of reading, knowledge,
Children” and in accordance with the Financial Services Authority        and skills so that they become independent and prosperous
program, Bank Sinarmas organized a virtual financial literacy            communities, Bank Sinarmas provides assistance to the Lentera
education at the Lentera Pustaka Reading Park at Mount Salak, Bogor.     Pustaka Community Reading Park.

                                                                 Kesehatan
                                                                   Health

Bank Sinarmas bersama dengan Palang Merah Indonesia (PMI)                Sumbangan masker ke Badan Amil Zakat Nasional (BAZNAS).
mengadakan kegiatan donor darah yang terselenggara sebanyak 2 kali.
Bank Sinarmas together with the Indonesian Red Cross (PMI),              Donation of masks to the National Amil Zakat Agency (BAZNAS).
organized blood donation activities twice.

Berpartisipasi dalam proyek rumah oksigen gotong royong untuk membantu masyarakat yang membutuhkan isolasi Covid-19 secara
terpusat. Bank Sinarmas memberikan donasi fasilitas kesehatan berupa satu rumah isolasi berisi 125 tempat tidur kepada rumah oksigen
gotong royong di kawasan Pulogadung, Jakarta Timur.
Participating in the mutual cooperation oxygen house project to help people needing centralized Covid-19 isolation. Bank Sinarmas donated
health facilities in the form of an isolation house with 125 beds to the mutual cooperation oxygen house in the Pulogadung area, East Jakarta.

                                                        Pemberdayaan Masyarakat
                                                        Community Empowerment

Meneruskan penerapan keuangan berkelanjutan melalui penerapan            Bank Sinarmas bekerja sama dengan e-commerce Shopee kembali
teknologi olah limbah peternakan sapi beserta pemanfaatannya di          mengadakan Pelatihan UMKM Go Online via Webinar Zoom dan Live
Desa Sukajaya, Lembang, Jawa Barat.                                      Streaming di Youtube Bank Sinarmas.
Continuing the application of sustainable finance through the            Bank Sinarmas, in collaboration with e-commerce Shopee, again
application of technology for processing cow farm waste and its          organized Go Online MSME Training via Zoom Webinar and Live
utilization in Sukajaya Village, Lembang, West Java.                     Streaming on Bank Sinarmas Youtube.

                                                              Donasi Lainnya
                                                              Other Donations

Menyalurkan bingkisan Ramadhan 1442 H.                                   Bantuan sosial untuk bencana di berbagai daerah, seperti tanah
                                                                         longsor di Sumedang, banjir di Kalimantan Selatan, gempa bumi di
                                                                         Sulawesi Barat, dan gunung meletus di Jawa Timur dan Yogyakarta
                                                                         (Gunung Semeru dan Gunung Merapi).
Distributing gifts for Ramadan 1442 H.                                   Social assistance for disasters in various areas; landslides in
                                                                         Sumedang, floods in South Kalimantan, earthquakes in West Sulawesi,
                                                                         and volcanic eruptions in East Java and Yogyakarta (Mt. Semeru and
                                                                         Mt. Merapi).

Sebagai bentuk kepedulian sosial terhadap lingkungan sekitar,            Melalui KC Karawang, Bank Sinarmas menyalurkan bantuan kepada
Bank Sinarmas, melalui Kantor Cabang (KC) Bandung Abdul Rivai,           masyarakat di sekitar yang terdampak banjir berupa 50 dus makanan
memberikan bantuan CSR kepada UKM Tekstil Majalaya yang                  ringan dan 50 dus air mineral.
terdampak pandemi Covid-19 berupa 167 karton minyak goreng Filma.
As a form of social concern for the surrounding environment,             Through KC Karawang, Bank Sinarmas distributed aid to communities
Bank Sinarmas, through the Bandung Abdul Rivai Branch Office             around the flood-affected areas in the form of 50 boxes of snacks
(KC), provided CSR assistance to Majalaya Textile SMEs affected by       and 50 boxes of mineral water.
the Covid-19 pandemic in the form of 167 boxes of Filma cooking oil.

Bekerja sama dengan Yayasan Santri Indonesia Kabupaten Demak,            Melalui KC Bima, Bank Sinarmas menyalurkan bantuan kepada
Bank Sinarmas memberikan bantuan berupa 417 karton minyak                masyarakat di Kota Bima dan sekitarnya yang terdampak banjir
goreng Filma.                                                            bandang, tanah longsor dan angin puting beliung yang memicu
                                                                         abrasi pantai di Wilayah Kabupaten Bima berupa 100 paket sembako
                                                                         yang masing-masing terdiri dari beras 3 kg, telur 7 butir, mie kering
                                                                         dan minyak goreng sebanyak 1 gelas.
In collaboration with the Indonesian Santri Foundation of Demak          Through KC Bima, Bank Sinarmas distributed aid to communities in
Regency, Bank Sinarmas provides assistance in the form of 417 boxes      Bima City and its surroundings who were affected by flash floods,
of Filma cooking oil.                                                    landslides, and hurricanes, triggering coastal erosion in the Bima
                                                                         District in the form of 100 basic food packages, containing 3 kg of
                                                                         rice, 7 eggs, dry noodles, and 1 cup of cooking oil.




              Laporan Tahunan 2023
 260          2023 Annual Report
Page 263
                                                                                            PT SINAR MAS MULTIARTHA TBK




                                                                     2021

Melalui KC Kupang, Bank Sinarmas menyalurkan bantuan kepada               Melalui KC Ambon, Bank Sinarmas bekerja sama dengan Forum
masyarakat di Kota Kupang yang terdampak Badai Seroja yang                Komunikasi Lembaga Jasa Keuangan Daerah (FKLJKD) Provinsi
melanda pada tanggal 4 April 2021.                                        Maluku dalam memberikan bantuan dalam meningkatkan kapasitas
                                                                          UMKM dan masyarakat pra sejahtera berupa 100 paket sembako
                                                                          yang masing-masing terdiri dari 3 kg beras premium, 3 kg gula pasir,
                                                                          1 liter minyak goreng, 1 kg terigu, dan 1 kaleng susu.
Through KC Kupang, Bank Sinarmas distributed aid to communities           Through KC Ambon, Bank Sinarmas cooperates with the
in Kupang City that were affected by Hurricane Seroja, which hit on       Communication Forum of Regional Financial Services Institutions
4 April 2021.                                                             (FKLJKD) of Maluku Province in providing assistance to increase the
                                                                          capacity of MSMEs and underprivileged communities in the form of
                                                                          100 basic food packages, containing 3 kg of premium rice, 3 kg of sugar,
                                                                          1 liter of cooking oil, 1 kg of flour, and 1 can of milk.
Menyalurkan bantuan minyak goreng kepada warga kota Malang                Memberikan bantuan hewan kurban Kepada Kepolisian Daerah
yang terdampak oleh pandemi Covid-19.                                     Lampung.
Distributing cooking oil assistance to Malang city residents affected     Provision of sacrificial animals to Lampung Regional Police.
by the COVID-19 pandemic.
Menyalurkan bantuan minyak goreng Filma kepada masyarakat                 Menyalurkan bantuan kepada Kepolisian Sektor Telanaipura, Jambi.
yang tidak mampu.
Distributing Filma cooking oil aid to underprivileged communities.        Distributing assistance to the Telanaipura Subprecinct Police, Jambi.
Menyalurkan bantuan berupa 2.508 liter minyak goreng kepada               Menyalurkan bantuan untuk masyarakat sekitar KC Makassar yang
jajaran TNI dan Polri.                                                    terdampak banjir.
Distributing aid of 2,508 liters of cooking oil to the Indonesian Armed   Distributing assistance to the flood-affected communities surrounding
Forces (TNI) and Police (Polri).                                          KC Makassar
Bekerja sama dengan Ikatan Pelajar Nahdlatul Ulama (IPNU)                 Melalui KC Gresik, Bank Sinarmas bekerja sama dengan Pondok
Kabupaten Demak dalam memberikan bantuan berupa 84 karton                 Pesantren Al-Ishlah - Bungah Gresik dalam memberikan bantuan
minyak goreng Masku.                                                      berupa 2.400 liter minyak goreng.
Collaborated with the Nahdlatul Ulama Student Association (IPNU)          Through KC Gresik, Bank Sinarmas collaborated with Pondok
of Demak Regency in providing assistance of 84 boxes of Masku             Pesantren Al-Ishlah - Bungah Gresik in providing assistance of
cooking oil.                                                              2,400 liters of cooking oil.
Melalui KC Lampung, Bank Sinarmas bekerja sama dengan Pondok              Bank Sinarmas bekerja sama dengan Pondok Pesantren Asshiddiqiyah
Pesantren Darussalam dan Pondok Pesantren Hidayatul Mubtadi’in            dalam memberikan bantuan berupa 360 liter minyak goreng Filma.
Lampung Timur dalam memberikan bantuan berupa 83 karton
minyak goreng Filma.
Through KC Lampung, Bank Sinarmas collaborated with Pondok                Bank Sinarmas collaborated with the Asshiddiqiyah Islamic Boarding
Pesantren Darussalam and Pondok Pesantren Hidayatul Mubtadi’in            School in providing assistance of 360 liters of Filma cooking oil.
East Lampung in providing assistance of 83 boxes of Filma cooking oil.
                                                           Aktivitas Sosial Lainnya
                                                            Other Social Activities
Menyelenggarakan “Penuangan Celengan Bambu Tzu Chi” di setiap             Dalam Rangka mengisi Kegiatan Suci Bulan Ramadhan 1442 H, Bank
Kanwil/KC/KCP/KK Bank Sinarmas.                                           Sinarmas Unit Usaha Syariah bekerja sama dengan Kompas TV dan
                                                                          Pegiat Industri Keuangan Syariah Lainnya, mengadakan program
                                                                          Tausyiah “Mutiara Ramadan” yang disiarkan selama 1 bulan penuh
                                                                          setiap hari menjelang shalat subuh dan sebelum berbuka puasa.
Organizing “Tzu Chi Bamboo Piggy Bank Pouring” at each Regional           In celebrating the Holy Month of Ramadhan 1442 H, Bank
Office/KC/KCP/KK Bank Sinarmas.                                           Sinarmas Sharia Business Unit, in collaboration with Kompas
                                                                          TV and other Sharia Financial Industry Activists, organized the
                                                                          Tausyiah program “Mutiara Ramadan” broadcasted for 1 full month
                                                                          every day before the dawn prayer and before breaking the fast.
Pada Bulan Suci Ramadhan 1442 H, Bank Sinarmas Unit Usaha Syariah bekerja sama dengan Tempo.co mengadakan program Tausyiah
“Kultum Ramadan Tempo Bersama Bank Sinarmas Syariah” dengan tema “Kekuatan Doa”, Dipandu oleh Ustaz Syam Elmarusyi S Sos I SQ.
During the Holy Month of Ramadan 1442 H, Bank Sinarmas Sharia Business Unit, in collaboration with Tempo.co, organized a Tausyiah
program, “Kultum Ramadan Tempo with Bank Sinarmas Syariah” with a theme “The Power of Prayer” - led by Ustaz Syam Elmarusyi S Sos I SQ.
                                                  Perbaikan Sarana dan Prasarana Sosial
                                             Social Facilities and Infrastructure Improvement
Dalam rangka membantu memberikan pendidikan yang berkualitas secara gratis untuk anak jalanan, duafa, dan yatim piatu di Banten
khususnya di Maja, Bank Sinarmas melalui Unit Usaha Syariah berpartisipasi dalam pembangunan kelas Sekolah Alam Nurani Insani di
Maja, Banten.
To help provide free quality education for homeless children, poor people, and orphans in Banten, especially in Maja, Bank Sinarmas
through the Sharia Business Unit, participated in the construction of the Insani Nurani Nature School class in Maja, Banten.




                                                                                                       Laporan Tahunan 2023
                                                                                                          2023 Annual Report              261
Page 264
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




PT Asuransi Simas Jiwa                                                      PT Asuransi Simas Jiwa


                                                                     2023

                                                       Literasi dan Inklusi Keuangan
                                                      Financial Literacy and Inclusion

                                                              Literasi Keuangan
                                                              Financial Literacy
Sepanjang tahun 2023, Asuransi Simas Jiwa (ASJ) memberikan edukasi tentang pentingnya merawat diri dengan cara memiliki proteksi untuk
masa depan menggunakan asuransi melalui berbagai konsep/tema, yakni:
• Weekly Syariah Penuh Berkah;
• Weekly Smart with Bancassurance Edisi Bulan Inklusi Keuangan;
• How To Win from Small Things Edisi Hari Kemerdekaan;
• Happy Week with Agency;
• Let’s Make Your Journey on the Board More Comfortable Edisi Hari Peringatan Sedunia untuk Korban Lalu Lintas;
• Happiness VS Healthy Edisi Merawat Diri Nasional;
• How to Win from Small Things Edisi Hari Anak Jakarta Membaca;
• Smart Week with Digital Insurance Edisi Bulan Inklusi Keuangan; dan
• Impulsif Menjelang Gajian Edisi Tanggal Muda.
Throughout 2023, Asuransi Simas Jiwa (ASJ) provided education on the importance of self-care by having protection for the future by utilizing
various concept/theme of insurance, namely:
• Weekly Sharia Full of Blessings;
• Weekly Smart with Bancassurance Financial Inclusion Month Edition;
• How To Win from Small Things Independence Day Edition;
• Happy Week with Agency;
• Let's Make Your Journey on the Board More Comfortable World Day of Remembrance for Road Traffic Victims;
• Happiness VS Healthy National Self Care Day Edition;
• How to Win from Small Things Jakarta Children Reading Day Edition;
• Smart Week with Digital Insurance Financial Inclusion Month Edition; and
• Being Impulsive Payday Edition.
                                                               Inklusi Keuangan
                                                              Financial Inclusion




Kegiatan Inklusi Keuangan di Persiapan Anak Usia Dini (PAUD) Mekar.       ASJ menjadi sponsor di acara Siminvestival di Institute Pertanian
                                                                          Bogor. Pada kegiatan ini, ASJ membuka photo box untuk menarik
                                                                          mahasiswa dan menjelaskan produk yang dimiliki.
Financial Inclusion activity at Early Childhood Education (ECED) Mekar.   ASJ sponsored the Siminvestival event at Institut Pertanian Bogor.
                                                                          In this event, ASJ opened a photo box to attract students and explain
                                                                          about its products.




                                                                          Berpartisipasi dalam perayaan ulang tahun J Trust Bank Mandiri yang
                                                                          ke-8, dimeriahkan oleh aneka games dan door prize, serta pengenalan
                                                                          produk bancassurance bagi pengunjung mall, serta karyawan J Trust
                                                                          Bank Mandiri.
                                                                          Participated in the 8th anniversary celebration of J Trust Mandiri,
                                                                          enlivened by various games and door prizes, as well as introduction
                                                                          of bancassurance products for mall visitors and J Trust Bank Mandiri
                                                                          employees.




              Laporan Tahunan 2023
  262         2023 Annual Report
Page 265
                                                                                     PT SINAR MAS MULTIARTHA TBK




                                                              2023

                                                   Pemberdayaan Masyarakat
                                                   Community Empowerment

                                                                   Pada Maret 2023, ASJ menyelenggarakan program kesadaran
                                                                   menjaga dan melestarikan lingkungan hidup dengan kegiatan
                                                                   penghijauan, yakni penanaman batang pohon dan/atau tanaman
                                                                   hias, serta pembagian pupuk tanaman berupa 10 polybag pucuk
                                                                   merah, 10 polybag jeruk nagami, 10 polybag jeruk limo, 10 polybag
                                                                   jambu kristal, 10 polybag jambu air, 40 pot kecil, 20 pot besar, 50
                                                                   media tanam, dan 100 m rumput gajah mini di Ruang Publik Terpadu
                                                                   Ramah Anak, Kelurahan Gondangdia, Jakarta Pusat.
                                                                   In March 2023, ASJ held an awareness program for environment
                                                                   protection and preservation through reforestation activities, namely
                                                                   planting tree trunks and/or ornamental plants, as well as distributing
                                                                   plant fertilizer of 10 polybags of red shoots, 10 polybags of nagami
                                                                   oranges, 10 polybags of limo oranges, 10 polybags of guava crystals,
                                                                   10 polybags of water guava, 40 small pots, 20 large pots, 50 planting
                                                                   media, and 100 m of mini elephant grass at Child-Friendly Integrated
                                                                   Public Space, Kelurahan Gondangdia, Central Jakarta.

                                                           Kesehatan
                                                             Health




                                                                   Menyambut Hari Kesehatan Nasional, ASJ menyelenggarakan Medical
                                                                   Check-Up (MCU) secara gratis dengan jumlah peserta sebanyak
                                                                   177 orang di Lobby Tower 2 Sinar Mas Land Plaza. Pada acara ini,
                                                                   dilakukan pemeriksaan gula darah, tensi, BMI secara gratis, dan suntik
                                                                   vitamin C. Disisi lain, ASJ membuka booth untuk menginformasikan
                                                                   produk yang dimiliki.
                                                                   In commemorating the National Health Day, ASJ held a free Medical
                                                                   Check-Up (MCU) with 177 participants at Lobby Tower 2 Sinar Mas
                                                                   Land Plaza. In this event, free blood sugar, blood pressure, BMI
                                                                   checks and vitamin C injections were performed. ASJ also opened a
                                                                   booth to inform about the its products.




                                                        Donasi Lainnya
                                                        Other Donations




Pemberian bantuan CSR sebesar Rp10.000.000,- kepada orang          Pemberian sponsorship kepada warga Kelurahan Gondangdia,
Warga Kelurahan Gondangdia, Jakarta Pusat.                         serta pemberian Asuransi Personal Accident gratis dengan uang
                                                                   pertanggungan sebesar Rp5.000.000,- bagi pegawai Kelurahan
                                                                   Gondangdia, Jakarta Pusat.
Donated Rp10,000,000 CSR assistance for communities of Kelurahan   Providing   sponsorship     for communities     of   Kelurahan
Gondangdia, Central Jakarta.                                       Gondangdia, and providing free Personal Accident Insurance
                                                                   with a sum insured of Rp5,000,000 for Kelurahan Gondangdia
                                                                   employees, Central Jakarta.




                                                                                               Laporan Tahunan 2023
                                                                                                  2023 Annual Report            263
Page 266
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




                                                                      2022

                                                        Literasi dan Inklusi Keuangan
                                                       Financial Education and Literacy
Memberikan edukasi perencanaan keuangan kepada masyarakat                   Merayakan momen-momen spesial, seperti perayaan tahun baru,
melalui IG Live SiJi Institute yang setiap Harbolnas dimanfaatkan           valentine, natal, dan lain-lain dengan menyelenggarakan Live Streaming
masyarakat untuk berbelanja secara daring. Melalui literasi Harbolnas       Instagram yang membahas mengenai perencanaan keuangan. Dalam
ini, masyarakat diajak untuk belanja sesuatu yang bermanfaat dengan         kegiatan tersebut, masyarakat terus diedukasi dan diajak untuk
harga (premi) yang relatif terjangkau melalui klikasuransiku.com atau       dapat menyiapkan asuransi jiwa sebagai hadiah spesial yang dapat
web mitra digital ASJ lainnya. Kegiatan ini dihadiri oleh 116 penonton.     diberikan kepada orang-orang terkasih. Kegiatan ini telah dilakukan
                                                                            sebanyak 4 kali dan dihadiri oleh 114 penonton.
The SiJi Institute conducted a financial planning education program         To commemorate special occasions such as New Year, Valentine’s
for the public via Instagram Live during Harbolnas, a popular online        Day, Christmas, and others, financial planning discussions were
shopping event. The aim was to encourage the public to make useful          conducted through Instagram Live Streaming. These events
purchases at affordable prices (premium) through klikasuransiku.com         aimed to educate and encourage the community to prepare life
or other ASJ digital partner websites. The program attracted 116 viewers.   insurance as a special gift for their loved ones. The program was
                                                                            conducted four times and attracted 114 viewers.
ASJ turut berpartisipasi dalam kegiatan Bulan Inklusi Keuangan              Program literasi regular diadakan secara rutin setiap bulan dengan
sepanjang Bulan Oktober. Dalam kegiatan tersebut, terdapat                  berkolaborasi bersama Tim Digital melalui fitur Live Streaming
5 kegiatan literasi yang diselenggarakan yang diikuti 277 penonton          Instagram klikasuransiku.com. Kegiatan ini telah dilakukan sebanyak
melalui fitur Live Streaming Instagram SiJi Institute.                      37 kegiatan dengan 2.658 penonton. Pembahasan pun sangat
                                                                            beragam mulai dari pengenalan literasi keuangan sampai ke hal-hal
                                                                            yang berkaitan dengan asuransi jiwa.
ASJ participated in the Financial Inclusion Month activities throughout     Regular literacy programs are held regularly every month by
October. In this activity, there were 5 literacy activities held which      collaborating with the Digital Team through the Instagram Live
were attended by 277 viewers through the SiJi Institute Instagram           Streaming feature klikasuransiku.com. This activity has been carried
Live Streaming feature.                                                     out as many as 37 activities with 2,658 viewers. The discussion is very
                                                                            diverse ranging from the introduction of financial literacy to matters
                                                                            relating to life insurance.




              Laporan Tahunan 2023
 264          2023 Annual Report
Page 267
                                                                                            PT SINAR MAS MULTIARTHA TBK




                                                                     2022

Membuat saluran (channel) mengenai inklusi keuangan pada sosial           Membuka booth di Senayan Park dalam rangka Hari Asuransi
media Asuransi Simas Jiwa (Klik Ahli dan Klik Ngobrol) serta ulasan/      Nasional.
artikel terkait inklusi keuangan pada situs web klikasuransiku.com
terkait dengan asuransi, khususnya asuransi jiwa.
Channels on financial inclusion were established on Simas Jiwa            Opened a booth at Senayan Park in the framework of National
Insurance’s social media platforms, including Klik Ahli and Klik          Insurance Day.
Ngobrol, as well as reviews and articles related to financial inclusion
on klikasuransiku.com, with a particular focus on life insurance.
                                                                 Pendidikan
                                                                  Education
Memberikan edukasi kepada siswa-siswi sekolah yang dituju. Adapun kegiatan pada sekolah pertama, yaitu tingkat Sekolah Dasar (SD)
di SDN Petamburan 05 Pagi, di mana kegiatan di dalamnya, meliputi pengenalan akan literasi dan berkolaborasi dengan Tim Marcom
melakukan CSR dengan membagikan 100 tanaman (polybag) dan menunjukkan cara menanam yang baik. Setelah itu, dilanjutkan dalam
lomba mewarnai dan memberikan apresiasi kepada 3 peserta yang terbaik.

Selanjutnya, SiJi Goes to School diadakan pada tingkat Sekolah Menengah Atas (SMA) di SMA Mawwadah Depok. Kegiatan literasi ini dikemas
dalam memperingati Hari Guru. Para murid diberikan penjelasan terkait dengan literasi, lomba pidato dengan tema “Cerdas Finansial
dengan Asuransi”, menonton film bersama “Money Explained”, dan ditutup dengan Quiz Cerdas Cermat terkait dengan asuransi.

 Education was provided to targeted schools, beginning with an Elementary School (SD) called SDN Petamburan 05 Pagi. Activities included
literacy introduction, a CSR program in collaboration with the Marcom Team which involved distributing 100 plants (polybags) and
demonstrating proper planting techniques. A coloring competition was also held, and the 3 best participants were recognized.

SiJi Goes to School was held for Senior High School (SMA) level at SMA Mawwadah Depok, to commemorate Teacher’s Day. This literacy event
included explanations related to financial literacy, a speech competition on the theme “Financially Smart with Insurance”, a movie screening
of “Money Explained”, and concluded with a quiz on insurance-related topics.
                                                              Donasi Lainnya
                                                              Other Donations
Memberikan 28 gerobak dorong dan 28 unit alat semprot elektrik kepada 4 kelompok tani di desa Ubud Bali pada 15 Oktober 2022.
Providing 28 wheelbarrows and 28 units of electric sprayers to 4 farmer groups in Ubud village Bali on 15 October 2022.



                                                                     2021

                                                       Literasi dan Inklusi Keuangan
                                                      Financial Literacy and Inclusion
Turut memeriahkan peringatan Hari Belanja Online Nasional                 Menyelenggarakan literasi perencanaan keuangan secara daring
(Harbolnas) dengan memberikan edukasi perencanaan keuangan                melalui Live Streaming Instagram pada momen spesial, seperti
kepada masyarakat melalui Instagram Live, Google Meet, atau Zoom.         Imlek, Valentine, Hari Kartini, dan lain-lain. Dalam kegiatan tersebut,
Melalui kegiatan ini, ASJ mengajak masyarakat untuk berbelanja            masyarakat diedukasi serta diajak untuk mempersiapkan asuransi
sesuatu yang bermanfaat dengan harga (premi) yang relatif terjangkau      jiwa sebagai hadiah spesial yang dapat diberikan kepada orang
melalui klikasuransiku.com atau web mitra digital ASJ lainnya.            terkasih. Kegiatan dilakukan sebanyak 6 kali dan diikuti oleh
Kegiatan ini diikuti oleh ±140 penonton.                                  201 penonton.
Commemorating the National Online Shopping Day (Harbolnas)                Organizing online financial planning literacy via Instagram Live
by providing public financial planning education via Instagram Live,      Streaming for special moments, i.e., Chinese New Year, Valentine’s
Google Meet, or Zoom. Through this activity, ASJ invites the public to    Day, Kartini Day, and others. In this activity, the public is educated
shop for something useful at a relatively affordable price (premium)      and invited to prepare life insurance as a special gift to their loved
via Klikasuransiku. com or other ASJ digital partner websites. This       ones. The activity was carried out 6 times and was attended by
activity was attended by ±140 spectators.                                 201 spectators.
Melaksanakan Rally Literasi dengan mengenalkan literasi keuangan          Berpartisipasi dalam kegiatan Bulan Inklusi Keuangan (BIK) FinExpo
hingga ke hal-hal yang berkaitan dengan asuransi jiwa. Kegiatan           yang diselenggarakan oleh Otoritas Jasa Keuangan. ASJ membuka
dilakukan sebanyak 33 kali dan diikuti 376 penonton.                      4 virtual booth, yakni ASJ, UUS, DPLK, dan Klikasurasiku.com. ASJ
                                                                          berkolaborasi dengan sejumlah mitra bisnis, yakni Nusantara Re,
                                                                          Bank Mandiri, Bank JTrust, dan lain-lain. Kegiatan diselenggarakan
                                                                          sebanyak 15 kali dan diikuti 501 penonton, baik melalui Instagram
                                                                          Live maupun Zoom.
Carrying out a Literacy Rally by introducing financial literacy to life   Participated in the FinExpo Financial Inclusion Month (BIK) event
insurance related issues. The activity was carried out 33 times and       organized by the Financial Services Authority. ASJ opened 4 virtual
was attended by 376 spectators.                                           booths, i.e. ASJ, UUS, DPLK, and Klikasurasiku.com. ASJ collaborated
                                                                          with several business partners, i.e. Nusantara Re, Bank Mandiri, Bank
                                                                          JTrust, and others. The activity was organized 15 times and attended
                                                                          by 501 spectators, via Instagram Live or Zoom.
                                                                  Kesehatan
                                                                    Health
Membagikan goodie bag berisi masker, hand sanitizer, dan personal accident kepada 200 orang secara gratis dengan total biaya Rp38.000.000,-
Distributing goodie bags with a total worth of Rp38,000,000 containing masks, hand sanitizers, and personal items to 200 people for free.




                                                                                                       Laporan Tahunan 2023
                                                                                                          2023 Annual Report            265
Page 268
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




PT Asuransi Sinar Mas                                                     PT Asuransi Sinar Mas


                                                                   2023

                                                      Edukasi dan Inklusi Keuangan
                                                    Education and Financial Inclusion

                                                                        Dalam rangka mendukung rangkaian program Bulan Inklusi
                                                                        Keuangan yang diadakan oleh Otoritas Jasa Keuangan, yaitu Road to
                                                                        Bulan Inklusi Keuangan (BIK) pada bulan Oktober 2023, Asuransi Sinar
                                                                        Mas berkolaborasi bersama Asuransi Sumit Oto menyelenggarakan
                                                                        kegiatan Literasi dan Inklusi Keuangan bagi siswa-siswi SMA 13
                                                                        Muhammadiyah Jakarta Barat. Dalam pelaksanaan literasi, peserta
                                                                        diberikan materi mengenai pengelolaan keuangan, pengenalan
                                                                        lembaga keuangan, serta pengenalan asuransi secara umum.
                                                                        To support the series of Financial Inclusion Month programs held
                                                                        by Financial Services Authority, titled Road to Financial Inclusion
                                                                        Month (BIK) in October 2023, Sinar Mas Insurance collaborated with
                                                                        Sumit Oto Insurance to organize Financial Literacy and Inclusion
                                                                        event for SMA 13 Muhammadiyah students in West Jakarta. In
                                                                        the literacy event, participants are given material on financial
                                                                        management, introduction to financial institutions, and introduction
                                                                        to insurance in general.




Melanjutkan kegiatan literasi keuangan bagi para pegiat UMKM dan        Dalam upaya untuk meningkatkan pemahaman dan literasi
nelayan. Literasi keuangan kali ini diberikan bagi UMKM serta nelayan   keuangan di kalangan mahasiswa di Provinsi Jambi, Asuransi Sinar
dan dilaksanakan bersamaan dengan penyelenggaraan Festival Fish         Mas bekerja sama dengan Otoritas Jasa Keuangan Provinsi Jambi
Market Sewu Iwak Banyuwangi 2023 di Kampung Mandar, Banyuwangi.         untuk mengadakan acara edukasi yang berfokus pada asuransi
Acara ini diikuti oleh 70 perwakilan UMKM dan nelayan dari berbagai     dan keuangan. Acara ini berhasil menarik perhatian lebih dari 1.000
wilayah di Banyuwangi. Asuransi Sinar Mas juga membagikan 7.200         peserta, yang mayoritas merupakan mahasiswa dan mahasiswi
Asuransi Mikro Simas Perlindungan dan Celengan Impian secara            Universitas Jambi (UNJA).
gratis bagi UMKM dan nelayan Banyuwangi. Seremonial penyerahan
dilakukan kepada perwakilan UMKM dan nelayan pada tanggal 28
Juli 2023 serta disaksikan oleh Bupati Banyuwangi, Ipuk Fiestiandani
dan para Top Producer Partner pemenang ATC.
Continuing the financial literacy event for MSME activists and          In increasing financial understanding and literacy among students
fishermen. The financial literacy was given for MSMEs and fishermen     in Jambi Province, Sinar Mas Insurance is collaborating with Jambi
and held in conjunction with the 2023 Sewu Iwak Banyuwangi              Province Financial Services Authority to hold educational event that
Fish Market Festival in Mandar Village, Banyuwangi. The event           focus on insurance and finance. This event succeeded in drawing
was attended by 70 MSMEs and fishermen representatives from             the attention of more than 1,000 participants, most of them were
various regions in Banyuwangi. Sinar Mas Insurance also distributed     Universitas Jambi (UNJA) students.
7,200 Simas Protection Micro Insurance and Dream Piggy Banks for
free to Banyuwangi MSMEs and fishermen. The handover ceremony
was held with MSMEs and fishermen representatives on 28 July 2023
and witnessed by Banyuwangi Regent, Ipuk Fiestiandani and
ATC winning Top Producer Partners.

Memberikan edukasi keuangan bagi para Ibu-Ibu Pemberdayaan Kesejahteraan Keluarga (PKK), Ketua Rukun Warga (RW), dan Petugas
Penanganan Prasarana dan sarana Umum (PPSU). Melalui kegiatan ini, peserta diberikan pengetahuan mengenai perencanaan keuangan
keluarga serta pengenalan instrumen keuangan yang dapat digunakan untuk mengelola keuangan termasuk asuransi.
Providing financial education for Family Welfare Empowerment (PKK) Mothers, Heads of Neighborhood (RW), and Public Infrastructure
and Facilities Handling Officers (PPSU). With this event, participants are given knowledge on family financial planning and introduction to
financial instruments that can be used to manage finances, including insurance.




             Laporan Tahunan 2023
  266        2023 Annual Report
Page 269
                                                                                             PT SINAR MAS MULTIARTHA TBK




                                                                      2023




Dalam mendukung upaya Otoritas Jasa Keuangan untuk meningkatkan            Memberikan literasi keuangan bagi siswa-siswi SMA/SMK/MA di
literasi dan inklusi keuangan di wilayah desa, Asuransi Sinar Mas          Kabupaten Bungo, Jambi yang diadakan bersama Otoritas Jasa
turut berpartisipasi memberikan literasi keuangan bagi masyarakat          Keuangan. Sebanyak 250 siswa-siswi dan 100 guru mengikuti
yang berprofesi sebagai petani di Desa Air Sempiang, Kabawetan,            kegiatan serta mendapatkan asuransi simas mikro gratis, meliputi
Kabupaten Kepahiang, Bengkulu. Sebanyak 100 petani menerima                asuransi simas siswa mikro bagi siswa, dan asuransi simas
Asuransi Mikro Simas Perlindungan. Simas Perlindungan merupakan            perlindungan bagi guru.
produk asuransi mikro yang memberikan perlindungan 24 jam
terhadap risiko kematian akibat kecelakaan yang dijamin oleh polis,
cacat tetap akibat kecelakaan, serta santunan tunai harian.
To support Financial Services Authority's efforts to increase financial    Providing financial literacy for SMA/SMK/MA students in Bungo
literacy and inclusion in villages, Sinar Mas Insurance is participating   Regency, Jambi held in collaboration with Financial Services
in providing financial literacy for farmers in Air Sempiang Village,       Authority. A total of 250 students and 100 teachers participated
Kabawetan, Kepahiang Regency, Bengkulu. A total of 100 farmers             in the event and received free micro simas insurance, including
received Simas Protection Micro Insurance. Simas Protection is a           micro student simas insurance for students, and protection simas
micro insurance product providing 24-hour protection against the           insurance for teachers.
risk of death due to accidents covered by the policy, permanent
disability due to accidents, as well as daily cash compensation.
                                                                           Pameran lembaga jasa keuangan atau Financial Expo (FinExpo) 2023
                                                                           kembali diselenggarakan dengan mengusung tema “Akses Keuangan
                                                                           Merata, Masyarakat Sejahtera”. Kegiatan FinExpo tahun 2023
                                                                           merupakan rangkaian kegiatan BIK yang diinisiasi oleh Lembaga Jasa
                                                                           Keuangan, dan didukung oleh Otoritas Jasa Keuangan, Bank Indonesia,
                                                                           serta Lembaga Penjamin Simpanan. Kegiatan ini diselenggarakan pada
                                                                           tanggal 26 Oktober-29 Oktober 2023 dan berlokasi di Pakuwon Mall
                                                                           Jogjakarta. Asuransi Sinar Mas berpartisipasi dalam acara tersebut
                                                                           dengan membuka booth pameran bersama dengan PT Bank Sinarmas.
                                                                           Dalam event ini, ASM memberikan penawaran menarik untuk setiap
                                                                           pembelian produk asuransi selama pameran berlangsung. Promo
                                                                           Bulan Inklusi Keuangan di antaranya diskon sebesar 25% untuk
                                                                           pembelian produk asuransi Simas Travel Overseas, Simas Pet, Simas
                                                                           Motor, dan Simas Mobil Exclusive. ASM juga membagikan buku cerita
                                                                           mengenai asuransi, celengan, serta merchandise kepada pengunjung
                                                                           yang melakukan berbagai aktivitas media sosial di booth ASM.
                                                                           The 2023 financial services institutions exhibition or Financial Expo
                                                                           (FinExpo) will be held again with the theme "Equal Financial Access,
                                                                           Prosperous Society". FinExpo activities in 2023 are a series of BIK
                                                                           activities initiated by the Financial Services Institution, and supported
                                                                           by the Financial Services Authority, Bank Indonesia, and the Deposit
                                                                           Insurance Corporation. This activity will be held on 26 October-29
                                                                           October 2023 and is located at Pakuwon Mall Jogjakarta. Sinar Mas
                                                                           Insurance participated in the event by opening a joint exhibition
                                                                           booth with PT Bank Sinarmas. In this event, ASM provides attractive
                                                                           offers for every purchase of insurance product during the exhibition.
                                                                           The Financial Inclusion Month promo includes a 25% discount for
                                                                           purchasing Simas Travel Overseas, Simas Pet, Simas Motor and
                                                                           Simas Mobil Exclusive insurance products. ASM also distributed story
                                                                           books about insurance, piggy banks and merchandise to visitors
                                                                           who carried out various social media activities at the ASM booth.




                                                                                                         Laporan Tahunan 2023
                                                                                                            2023 Annual Report             267
Page 270
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




                                                                      2023

                                                         Pemberdayaan Masyarakat
                                                         Community Empowerment




Berpartisipasi menjadi sponsor dalam ajang balapan kendaraan air,          Menyelenggarakan pelatihan pengolahan minyak jelantah menjadi
yakni Kopiko F1 Powerboat di Danau Toba, Sumatera Utara pada               sabun bagi warga Kelurahan Kampung Bali, Jakarta Pusat. Pelatihan
tanggal 24-26 Februari 2023, yang diikuti oleh 20 pembalap dari            yang diadakan berkolaborasi dengan Tim Sustainable Indonesia
berbagai negara. Dalam pameran yang berlangsung selama event,              ini bertujuan untuk memberikan keterampilan dalam mengolah
Sinar Mas yang diwakili oleh Asuransi Sinar Mas menampilkan                limbah menjadi barang yang lebih berguna dan dapat menjadi
berbagai produk asuransi unggulan seperti Simas Mobil, Simas               alternatif usaha baru untuk meningkatkan ekonomi masyarakat.
Travel, Simas Mikro, dan lain-lain. Booth juga menampilkan produk          Pada kesempatan ini, Asuransi Sinar Mas juga membagikan asuransi
UMKM binaan yaitu Humbang Kriya.                                           Simas Mikro gratis beserta celengan impian bagi peserta pelatihan.
Participated as a sponsor in the water vehicle racing event, Kopiko        Organizing training to process used cooking oil into soap for
F1 Powerboat on Lake Toba, North Sumatra on 24-26 February                 communities in Kelurahan Kampung Bali, Central Jakarta. This training,
2023, attended by 20 racers of various countries. In the exhibition        held in collaboration with Sustainable Indonesia Team, aims to provide
during the event, Sinar Mas, represented by Sinar Mas Insurance,           waste processing skills to produce more useful goods and may serve
displayed various superior insurance products such as Simas Mobil,         as new business alternative to improve the community's economy. On
Simas Travel, Simas Micro, and others. The booth also displays the         this occasion, Sinar Mas Insurance also distributed free Simas Micro
products of Humbang Kriya, an assisted MSME.                               insurance as well as with dream piggy banks for training participants.




Menyelenggarakan pelatihan menganyam baion dan pembuatan produk            Humbang Kriya, karya para artisan UMKM binaan Asuransi Sinar Mas,
jadi berbahan anyaman baion bagi artisan di Kabupaten Humbang              tampil memukau dalam fashion show dan pameran UMKM di Lake Toba
Hasundutan. Rumah Kreatif Sinar Mas mencoba mengangkat kembali             Fashion Week 2023 (LTFW 2023) tanggal 6-8 Oktober 2023 di Sipinsur
kegiatan menganyam/mangaletek yang telah 40 tahun ditinggalkan,            Geosite, Humbang Hasundutan, Sumatera Utara. Selama acara
agar dapat melanjutkan kearifan lokal di Humbang Hasundutan.               LTFW 2023, Humbang Kriya tampil dalam tiga sesi fashion show yang
Pelatihan menganyam dasar diikuti 13 artisan baion, sementara untuk        berbeda. Pada hari pertama, Humbang Kriya mempersembahkan 5
pembuatan produk jadi diikuti oleh 10 peserta yang terdiri dari ibu-ibu    busana hasil kolaborasi dengan desainer Nick Djatnika dan 5 busana
dan remaja perempuan yang telah memiliki keterampilan menjahit.            dari SHINE Collection by Humbang Kriya.
Organized baion weaving training and making baion weaving                  Humbang Kriya, the work of Sinar Mas Insurance assisted MSME
finished products for artisans in Humbang Hasundutan Regency.              artisans, looked stunning in the MSME fashion show and exhibition
Sinar Mas Creative House is seeking to revive weaving/mangaletek           at Lake Toba Fashion Week 2023 (LTFW 2023) on 6-8 October 2023
activities that have been left for 40 years, to pass on the local wisdom   at Sipinsur Geosite, Humbang Hasundutan, North Sumatra. In
in Humbang Hasundutan. The basic weaving training was joined by            the LTFW 2023 event, Humbang Kriya appeared in three different
13 baion artisans, while the finished products making was joined           fashion show sessions. On the first day, Humbang Kriya presented
by 10 participants consisting of mothers and young women who               5 clothes in collaboration with designer Nick Djatnika and 5 clothes
already had sewing skills.                                                 from SHINE Collection by Humbang Kriya.




              Laporan Tahunan 2023
 268          2023 Annual Report
Page 271
                                                                                        PT SINAR MAS MULTIARTHA TBK




                                                                 2023




Asuransi Sinar Mas dan Rumah Kreatif Sinar Mas mengadakan             UMKM Binaan Asuransi Sinar Mas, Humbang Kriya, berkolaborasi
Training dan Konser yang bertajuk Music is Fantastic. Training yang   dengan desainer Asosiasi Perancang Pengusaha Mode Indonesia -
merupakan program dari Sentra Audio Visual Rumah Kreatif Sinar        Sumatera Utara, Harry Hasibuan menghadirkan 10 koleksi busana
Mas ini dibawakan oleh Mauro Goia dan Mega Sihombing Goia.            cantik dan elegan yang menggabungkan keindahan kain Humbang
Acara ini bertujuan untuk memberikan pengetahuan dan wawasan          Shibori dan Humbang EcoPrint di Sumut Fashion Week 2023.
baru kepada musisi-musisi lokal Kawasan Danau Toba dan K
abupaten Humbang Hasundutan.
Sinar Mas Insurance and Sinar Mas Creative House held training        Humbang Kriya, a Sinar Mas Insurance-assisted MSME, collaborated
and concerts called Music is Fantastic. The training, a program       with Harry Hasibuan, a designer from Indonesian Fashion
from Sinar Mas Creative Home Audio Visual Center, was presented       Entrepreneurs Designers Association - North Sumatra, presented 10
by Mauro Goia and Mega Sihombing Goia. This event aims to give        beautiful and elegant fashion collections, combining the beauty of
new knowledge and insight to local musicians in Lake Toba area and    Humbang Shibori and Humbang EcoPrint fabrics at North Sumatra
Humbang Hasundutan Regency.                                           Fashion Week 2023.
                                                           Donasi Lainnya
                                                           Other Donations




Dalam rangka menyambut Hari Raya Idul Fitri 1444 H, Asuransi          Asuransi Sinar Mas, bersama 11 perusahaan ceeding, turut berpartisipasi
Sinar Mas bersama dengan Asuransi Sinar Mas Unit Syariah kembali      dalam kegiatan CSR yang diselenggarakan oleh PT Maskapai Reasuransi
melakukan kegiatan CSR melalui pembagian paket sembako bagi           Indonesia, Tbk di Pulau Pramuka. Kegiatan bertema Voluntrip
masyarakat kurang mampu di 3 lokasi sekitar kantor Asuransi Sinar     #SeaTheKindness ini terdiri dari bantuan sembako untuk 280 keluarga,
Mas. Asuransi Sinar Mas membagikan 500 paket sembako kepada           bantuan peralatan untuk 111 nelayan, penanaman 40 terumbu karang
warga di Kelurahan Kampung Bali, 200 paket sembako di Kelurahan       dan 175 pohon bakau di wilayah Pulau Pramuka.
Kramat Pela, dan 200 paket sembako di Kelurahan Rawa Terate.
Paket sembako terdiri dari beras 5kg, minyak goreng 1L, margarin,
biskuit, dan tisu basah.
In commemorating Idul Fitri 1444 H, Sinar Mas Insurance and Sinar     Sinar Mas Insurance, along with 11 ceeding companies,
Mas Insurance Sharia Unit conducted CSR activities by distributing    participated in CSR activities organized by PT Airline Reinsurance
basic food packages for underprivileged communities in 3 locations    Indonesia, Tbk on Pramuka Island. The event, titled Voluntrip
surrounding Sinar Mas Insurance office. Sinar Mas Insurance           #SeaTheKindness consists of basic food assistance for 280 families,
distributed 500 basic food packages to residents of Kelurahan         equipment assistance for 111 fishermen, planting 40 coral reefs
Kampung Bali, 200 basic food packages in Kelurahan Kramat             and 175 mangrove trees in Pramuka Island area.
Pela, and 200 basic food packages in Kelurahan Rawa Terate. The
basic food package consists of 5kg rice, 1L cooking oil, margarine,
biscuits and wet tissue.




                                                                                                   Laporan Tahunan 2023
                                                                                                      2023 Annual Report            269
Page 272
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




                                                                2023



                                                                     Asuransi Sinar Mas dan Yayasan Budha Tzu Chi Sinar Mas Jakarta
                                                                     melakukan penyerahan bantuan bagi para korban banjir bandang
                                                                     dan longsor menerjang Desa Simangulampe kecamatan Bakti
                                                                     Raja, Kabupaten Humbang Hasundutan, Sumatera Utara. Bantuan
                                                                     diberikan dalam bentuk pakaian, susu, perlengkapan bayi, dan
                                                                     perlengkapan sekolah.
                                                                     Sinar Mas Insurance and Sinar Mas Jakarta Tzu Chi Buddhist
                                                                     Foundation handed over aid to victims of flash floods and
                                                                     landslides in Simangulampe Village, Bakti Raja Subdistrict, Humbang
                                                                     Hasundutan Regency, North Sumatra. Aids provided are in the form
                                                                     of clothes, milk, baby equipment and school supplies.




                                                                2022

                                                   Literasi dan Inklusi Keuangan
                                                  Financial Literacy and Inclusion
Mengadakan Pelatihan Klinik UMKM Pangan dan Literasi Keuangan        Mengadakan literasi keuangan dan memberikan Asuransi Simas
bagi UMKM di Kabupaten Humbang Hasundutan, Sumatera Utara.           Perlindungan bagi 1.115 UMKM di Surakarta, Jawa Tengah.
Pelatihan diadakan bagi UMKM yang bergerak di bidang kuliner
(makanan dan minuman).
Conducted Food MSME Clinic and Financial Literacy Training for       Conducted financial literacy and provided Simas Protection Insurance
MSMEs in Humbang Hasundutan Regency, North Sumatra. The              for 1,115 MSMEs in Surakarta, Central Java.
training was held for MSMEs engaged in the culinary sector (food
and beverages).
Mengadakan literasi keuangan bagi siswa-siswi dan guru di wilayah    Melaksanakan kegiatan literasi keuangan bagi siswa-siswi SD dan
Banjarmasin, Kalimantan Selatan. Peserta literasi mendapatkan        Sekolah Menengah Pertama (SMP) di wilayah Bengkulu. Edukasi
Asuransi Simas Mikro, meliputi:                                      keuangan diberikan di SD 16 Seluma dan SD 156 Seluma melalui
• Penyerahan 439 Asuransi Simas Siswa Mikro untuk siswa dan 41       pemutaran video story telling mengenai asuransi, pemberian buku
  Asuransi Simas perlindungan untuk guru di SD Muhammadiyah 9        cerita bertemakan asuransi, dan pelaksanaan kegiatan mewarnai
  Banjarmasin pada 11 Agustus 2022;                                  dengan tema asuransi. Peserta literasi juga diberikan kartu Asuransi
• Penyerahan 255 Asuransi Simas Siswa Mikro untuk siswa dan 50       Mikro secara gratis, terdiri dari 2.000 Asuransi Simas Siswa Mikro
  Asuransi Simas Perlindungan untuk guru di SD Negeri Gadang 2       untuk siswa-siswi dan 100 Asuransi Simas Perlindungan untuk
  Banjarmasin pada 22 Agustus 2022; dan                              para guru. Pendistribusian asuransi dilakukan melalui koordinasi
• Penyerahan 575 Asuransi Simas Siswa Mikro untuk siswa dan 30       dengan Dinas Pendidikan Pemerintah Kabupaten Seluma.
  Asuransi Simas Perlindungan untuk guru di SD Negeri Kuripan 2
  Banjarmasin pada 25 Agustus 2022.
Organized financial literacy for students and teachers in the        Carrying out financial literacy activities for elementary and junior
Banjarmasin area, South Kalimantan. Literacy participants received   high school students in the Bengkulu region. Financial education
Simas Mikro Insurance, including:                                    was provided at SD 16 Seluma and SD 156 Seluma through the
• Handover of 439 Simas Micro Student Insurance for students and     screening of storytelling videos about insurance, the provision of
  41 Simas Protection Insurance for teachers at SD Muhammadiyah      insurance-themed storybooks, and the implementation of coloring
  9 Banjarmasin on 11 August 2022;                                   activities with insurance themes. Literacy participants were also
• Handover of 255 Simas Micro Student Insurance for students and     given free Micro Insurance cards, consisting of 2,000 Simas Siswa
  50 Simas Protection Insurance for teachers at SD Negeri Gadang 2   Micro Insurance for students and 100 Simas Protection Insurance
  Banjarmasin on 22 August 2022; and                                 for teachers. The distribution of insurance was done in coordination
• Handover of 575 Simas Siswa Mikro Insurance for students and 30    with the Education Office of Seluma Regency Government.
  Simas Perlindungan Insurance for teachers at SD Negeri Kuripan 2
  Banjarmasin on 25 August 2022.




             Laporan Tahunan 2023
 270         2023 Annual Report
Page 273
                                                                                         PT SINAR MAS MULTIARTHA TBK




                                                                   2022

Menyelenggarakan literasi keuangan di Hari Asuransi bagi siswa-siswi   Melaksanakan kegiatan literasi keuangan bagi siswa-siswi SMP
SMP Negeri 1 Merauke. Literasi keuangan juga dilaksanakan bagi         Negeri 2 Takengon, Aceh. Edukasi keuangan diberikan melalui
mahasiswa dan pengajar di Sekolah Tinggi Ilmu Administrasi (STIA)      pemberian materi mengenai pengelolaan keuangan, pengenalan
Karya Dharma pada 7 Oktober 2022. Peserta literasi mendapatkan         lembaga keuangan, serta pengenalan asuransi. Penyelenggaraan
Asuransi Simas Mikro, meliputi:                                        kali ini berkolaborasi dengan Asuransi Sinar Mas Syariah.
• Penyerahan 90 Asuransi Simas Mikro untuk siswa dan 10 Asuransi
  Simas Perlindungan untuk guru di SMP Negeri 1 Merauke; dan
• Penyerahan 207 Asuransi Simas Mikro untuk mahasiswa dan 21
  Asuransi Simas Perlindungan untuk tenaga pengajar STIA Karya
  Dharma Merauke.
Organizing financial literacy on Insurance Day for students of SMP     Carrying out financial literacy activities for students of SMP Negeri
Negeri 1 Merauke. Financial literacy was also held for students        2 Takengon, Aceh. Financial education is provided through the
and teachers at Sekolah Tinggi Ilmu Administrasi (STIA) Karya          provision of material on financial management, introduction to
Dharma on 7 October 2022. Literacy participants received Simas         financial institutions, and introduction to insurance. This event was
Mikro Insurance, including:                                            held in collaboration with Sinar Mas Syariah Insurance.
• Delivery of 90 Simas Mikro Insurance for students and 10 Simas
  Protection Insurance for teachers at SMP Negeri 1 Merauke; and
• Delivery of 207 Simas Mikro Insurance for students and 21
  Simas Protection Insurance for STIA Karya Dharma Merauke
  teaching staff.

Memperingati Hari Asuransi 2022, ASM turut berpartisipasi dalam kegiatan “Literasi Asuransi untuk Negeri” yang diinisiasi oleh Asosiasi
Asuransi Umum Indonesia (AAUI) Yogyakarta. Literasi keuangan ini ditujukan bagi mahasiswa-mahasiswi Universitas Sarjana Wiyata Taman
Siswa Yogyakarta. Pada kegiatan ini dibagikan 1.000 Asuransi Simas Mikro bagi mahasiswa dan 400 Asuransi Simas Perlindungan bagi
pengajar.
Commemorating Insurance Day 2022, ASM participated in the “Insurance Literacy for the Country” activity initiated by the Indonesian
General Insurance Association (AAUI) Yogyakarta. This financial literacy was aimed at students of Universitas Sarjana Wiyata Taman Siswa
Yogyakarta. In this activity, 1,000 Simas Mikro Insurance were distributed to students and 400 Simas Protection Insurance were distributed to
teachers.

                                                                Kesehatan
                                                                  Health

Dalam rangka Hari Guru Nasional, 25 November 2022, ASM turut berpartisipasi dalam event CSR yang diadakan DAAI TV dengan tema
#SebarkanKebaikan. Kegiatan ini dilakukan dengan memberikan layanan pemeriksaan mata dan pemberian kacamata gratis untuk 100 guru
di wilayah Tangerang, yakni di Sekolah Insan Teratai dan Sekolah Ariya Metta.
On the occasion of National Teacher’s Day, 25 November 2022, ASM participated in a CSR event held by DAAI TV with the
theme #SebarkanKebaikan. This activity was carried out by providing eye examination services and free glasses for 100
teachers of Sekolah Insan Teratai and Sekolah Ariya Metta in Tangerang area.

                                                 Perbaikan Sarana dan Prasarana Sosial
                                            Social Facilities and Infrastructure Improvement

Dalam rangka Hari Air Sedunia, 22 Maret 2022, ASM berkolaborasi dengan DAAI TV mengadakan kegiatan CSR dengan tema
#MengalirkanKebaikan untuk sesama yang membutuhkan. Kegiatan dilakukan dengan pembangunan tangki air 8.000 liter di SMP Islam
Madinatul Ilmi dan dilanjutkan pendistribusian air bersih ke beberapa desa di Muara Gembong, Bekasi, yang kesulitan mendapatkan akses
sumber air bersih.
To commemorate World Water Day on 22 March 2022, ASM partnered with DAAI TV to organize a CSR event with the hashtag
#MalirkanKebaikan (Spread Kindness). The program involved the construction of an 8,000-liter water tank at Madinatul Ilmi Islamic Junior
High School, followed by the distribution of clean water to several villages in Muara Gembong, Bekasi, which faced challenges accessing
clean water sources.

                                                       Pemberdayaan Masyarakat
                                                       Community Empowerment

Mengadakan kegiatan CSR melalui Pelatihan Klinik UMKM Pangan dan literasi keuangan bagi UMKM di Kabupaten Humbang Hasundutan,
Sumatera Utara. Pelatihan diadakan bagi UMKM yang bergerak di bidang kuliner (makanan dan minuman).
Conducted CSR activities through Food MSME Clinic Training and financial literacy for MSMEs in Humbang Hasundutan
Regency, North Sumatra. The training was held for MSMEs engaged in the culinary sector (food and beverages).




                                                                                                    Laporan Tahunan 2023
                                                                                                       2023 Annual Report            271
Page 274
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




                                                                     2022

                                                                Donasi Lainnya
                                                                Other Donations
Menyambut Hari Raya Idul Fitri 1443 H, ASM bersama dengan ASM             Melakukan kegiatan CSR di wilayah Kampung Bali melalui program
Unit Syariah melakukan kegiatan CSR melalui pembagian paket               Penataan Kampung Kumuh, dengan tema “Kampung Bersinar
sembako bagi masyarakat kurang mampu yang berada di sekitar               (Bersih, Indah, Nyaman, Asri dan Ramah Lingkungan)”. Kegiatan yang
kantor Asuransi Sinar Mas, yaitu di Kelurahan Kampung Bali, Jakarta       berlokasi di RT 06 dan RT 07 wilayah RW 03 Kelurahan Kampung
Pusat; Kramat Pela, Jakarta Selatan; dan Rawa Terate, Jakarta Timur.      Bali ini meliputi penataan lingkungan, pengembangan kreativitas
                                                                          dan mural, penanaman tanaman hidroponik serta pengembangan
                                                                          budidaya perikanan. Dalam kegiatan yang berlangsung, ASM
                                                                          turut memberikan bantuan berupa cat minyak, thinner, besi untuk
                                                                          kolam ikan, rak baca, serta rak hidroponik yang diserahkan secara
                                                                          langsung oleh Dumasi MM Samosir selaku Direktur PT Asuransi Sinar
                                                                          Mas kepada Lurah Kampung Bali, Ety Kusmiaty.
To celebrate Eid al-Fitr 1443 H, ASM collaborated with the                ASM carried out CSR program in Kampung Bali area, under
ASM Sharia Unit to carry out a CSR program that involved                  the Slum Village Arrangement program, with a theme of
distributing  essential    food     packages    to   underprivileged      “Kampung Bersinar (Clean, Beautiful, Comfortable, Beautiful,
communities living in proximity to Asuransi Sinar Mas’ office.            and Environmentally Friendly)”. The activities took place in
The locations included Kampung Bali Village in Central                    RT 06 and RT 07 of RW 03 Kelurahan Kampung Bali, and
Jakarta, Kramat Pela in South Jakarta, and Rawa Terate in East Jakarta.   included initiatives such as environmental structuring, mura and
                                                                          creativity development, hydroponic planting, and aquaculture
                                                                          development. During the program, ASM provided various forms of
                                                                          assistance, such as oil paint, thinner, iron for fish ponds, reading
                                                                          shelves, and hydroponic shelves, which were handed over to
                                                                          Ety Kusmiaty, Kampung Bali Urban Village Head, by Dumasi MM
                                                                          Samosir, the Director of PT Asuransi Sinar Mas.




                                                                     2021

                                                       Literasi dan Inklusi Keuangan
                                                      Financial Literacy and Inclusion
Diadakan secara virtual dalam bentuk dongeng dan story telling            Diadakan secara virtual tentang risiko, asuransi, investasi, dan
mengenai asuransi dan kebiasaan menabung sejak dini kepada                manfaat menabung kepada siswa/siswi dan gurun Yayasan GMIM
siswa/siswi SDN 2 Samarinda, Kalimantan Timur.                            DS A.Z.R. Wenas Tomohon, Sulawesi Utara.
Organizing virtual fairy tales and storytelling about insurance and       Virtual discussion about the risks, insurance, investment, and saving
saving habits from an early age to students at SDN 2 Samarinda,           benefits to students and teachers of the GMIM DS A.Z.R. Wenas
East Kalimantan.                                                          Foundation, Tomohon, North Sulawesi.
Diadakan secara virtual untuk siswa/siswi SMPN 1 Palu, Sulawesi Tengah.   Diadakan secara virtual bagi petani di Balai Penyuluhan Pertanian
                                                                          Kecamatan Sonder, Minahasa, Sulawesi Utara.
Held virtually for students of SMPN 1 Palu, Central Sulawesi.             Held virtually for farmers at the Agricultural Extension Center,
                                                                          Sonder District, Minahasa, North Sulawesi.
Diadakan secara virtual secara virtual untuk siswa/siswi SMA Negeri       Diadakan secara virtual serta memberikan asuransi gratis untuk
4 Kendari, Sulawesi Tenggara. Pada kesempatan ini, Asuransi Sinar         siswa/siswi dan guru Yayasan Ma’arifatul Ulum Palembang.
Mas berkolaborasi dengan PT Asuransi Sumit Oto.
Held virtually for students of SMA Negeri 4 Kendari, Southeast            Held virtually and distributed free insurance for students and
Sulawesi. On this occasion, Asuransi Sinar Mas collaborated with          teachers of the Ma’arifatul Ulum Foundation Palembang.
PT Asuransi Sumit Oto.
Diadakan secara virtual serta asuransi mikro gratis untuk siswa/siswi     Diadakan secara virtual serta memberikan asuransi mikro gratis
Baitul Jannah Islamic Boarding School Lampung.                            untuk siswa/siswi TK Santa Bernadetta, Padang Sidempuan.
Held virtually for farmers at the Agricultural Extension Center,          Held virtually and distributed free micro-insurance for Santa
Sonder District, Minahasa, North Sulawesi.                                Bernadetta Kindergarten students, Padang Sidempuan.
                                                                  Kesehatan
                                                                    Health
Memberikan layanan vaksinasi untuk para tenaga kesehatan, lanjut usia, dan kalangan masyarakat lainnya di Klinik Pratama Simas Sehat.
Provide vaccination services for health workers, the elderly, and other community members at Simas Sehat Pratama Clinic.
                                                        Pemberdayaan Masyarakat
                                                        Community Empowerment
Memberikan bantuan dan pelatihan instalasi hidroponik kepada warga Kelurahan Kampung Bali, Jakarta Pusat.
Provide assistance and training of hydroponic installations to residents of Kelurahan Kampung Bali, Central Jakarta.




              Laporan Tahunan 2023
 272          2023 Annual Report
Page 275
                                                                                       PT SINAR MAS MULTIARTHA TBK




                                                                 2021

                                                           Donasi Lainnya
                                                           Other Donations
Membagikan paket sembako kepada masyarakat yang terdampak Covid-19 di 3 lokasi, yaitu Kampung Bali, Tanah Abang; Rawa Terate, Pulo
Gadung; dan Kramat Pela, Kebayoran Baru.
Distribute food packages to Covid-19 affected communities in 3 locations; Kampung Bali, Tanah Abang; Rawa Terate, Pulo
Gadung; and Kramat Pela, Kebayoran Baru.




PT Sinar Mas Multifinance                                               PT Sinar Mas Multifinance


                                                                 2023

                                                    Literasi dan Inklusi Keuangan
                                                   Financial Literacy and Inclusion




                                                                     Pada Semester I 2023, Sinar Mas Multifinance telah melaksanakan
                                                                     kegiatan edukasi keuangan dalam bentuk sosialisasi dengan judul
                                                                     “Program Edukasi Literasi Keuangan Generasi Milenial: Menjadi Milenial
                                                                     Cerdas Dalam Merencanakan Keuangan”. Kegiatan tersebut bertujuan
                                                                     untuk memberikan edukasi kepada Generasi Milenial mengenai
                                                                     strategi penting dan langkah-langkah cerdas untuk mengelola uang
                                                                     dengan bijak, serta menjelaskan serba-serbi mengenai Perusahaan
                                                                     Pembiayaan dan diikuti oleh masyarakat umum sebanyak 60 peserta.
                                                                     Pelaksanaan edukasi dilakukan melalui aplikasi Zoom pada
                                                                     tanggal 27 Juni 2023.
                                                                     In Semester I 2023, Sinar Mas Multifinance has conducted financial
                                                                     education activity through dissemination titled "Financial Literacy
                                                                     Education Program for Millennial Generation: Becoming Smart
                                                                     Millennials in Financial Planning". The activity aims to provide
                                                                     education for Millennial Generation on important strategies and
                                                                     smart steps to wise money management, as well as explaining
                                                                     various things about Financing Companies and attended by
                                                                     60 participants of the general public. The education was done via
                                                                     Zoom on 27 June 2023.




Sinar Mas Multifinance juga melaksanakan kegiatan inklusi keuangan dengan ruang lingkup kegiatan Perluasan Akses terhadap produk
New Car dengan tajuk “SMMF Test Drive New Car with Dealer”. Kegiatan tersebut diselenggarakan bekerja sama dengan dealer Mitsubishi
dan Honda yang menyasar masyarakat umum dan diikuti oleh 12 orang dari masyarakat umum yang melakukan test drive. Test Drive ini
diselenggarakan oleh Perseroan setiap hari kecuali hari Minggu dan hari libur nasional mulai dari tanggal 11 Maret 2023 hingga 11 April
2023 di Kota Bogor, Jawa Barat.

Pada Semester II 2023, Sinar Mas Multifinance telah melaksanakan kegiatan literasi dan inklusi keuangan dalam bentuk sosialisasi pada
acara “Multifinance Day 2023” yang diselenggarakan bekerja sama dengan Asosiasi Perusahaan Pembiayaan Indonesia (APPI) di Atrium
Palembang Indah Mall, Kota Palembang, Sumatera Selatan selama tiga hari yaitu pada tanggal 13 hingga 15 Oktober 2023. Kegiatan
tersebut bertujuan untuk memberikan edukasi kepada masyarakat umum mengenai serba-serbi Perusahaan Pembiayaan yang diikuti oleh
68 peserta dari masyarakat umum.

Sinar Mas Multifinance also conducted financial inclusion activities covering the Access Expansion of New Car product titled
"SMMF Test Drive New Car with Dealer". The activity was held in collaboration with Mitsubishi and Honda dealers targeting general
public and attended by 12 people of the general public conducted test drive. The Company held the Test Drive every day except
on Sundays and national holidays from 11 March 2023 to 11 April 2023 in Bogor City, West Java.

In Semester II 2023, Sinar Mas Multifinance has conducted financial literacy and inclusion activities through dissemination during the
"Multifinance Day 2023" event, held in collaboration with Indonesian Finance Company Association (APPI) at Palembang Indah Mall Atrium,
Palembang City, South Sumatra for three days, from 13 to 15 October 2023. This activity aims to provide education for general public over
the various aspects of Financing Companies and attended by 68 participants of the general public.




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report            273
Page 276
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




                                                                 2023

                                                               Pendidikan
                                                                Education

Sebagai langkah nyata Sinar Mas Multifinance dalam mendukung terciptanya bibit-bibit muda yang berbakat di bidang olahraga khususnya
pada cabang Futsal, Sinarmas Multifinance Syariah yang merupakan Unit Usaha Syariah (UUS) Perseroan menjadi salah satu sponsor pada
Turnamen Futsal SMP Dr. Soetomo Surabaya yang mempertemukan seluruh SD di kota Surabaya. Turnamen tersebut diharapkan dapat
menjadi wadah yang positif bagi siswa-siswi berprestasi.
As concrete realization of Sinar Mas Multifinance efforts in supporting the emergence of young talents in sports, particularly in Futsal,
Sinarmas Multifinance Syariah, the Company’s Sharia Business Unit (SBU) sponsored the Futsal Tournament of SMP Dr. Soetomo Surabaya
that invited all elementary schools in Surabaya City. The tournament is expected to be a positive event for outstanding students.




                                                                 2022

                                                     Literasi dan Inklusi Keuangan
                                                    Financial Literacy and Inclusion

Pada tanggal 14-16 Oktober 2022, Sinar Mas Multifinance mengikuti kegiatan yang diadakan oleh Asosiasi Perusahaan Pembiayaan
Indonesia (APPI) di Bandung dalam rangka Bulan Inklusi Keuangan.
Sinar Mas Multifinance took part in an event organized by the Indonesian Finance Company Association (APPI) in Bandung from 14-16
October 2022, as part of the Financial Inclusion Month.

                                                            Donasi Lainnya
                                                            Other Donations

Sinar Mas Multifinance memberikan bantuan untuk korban tragedi Kanjuruhan serta korban bencana gempa bumi Cianjur.
Sinar Mas Multifinance provided assistance to victims of the Kanjuruhan tragedy and victims of the Cianjur earthquake disaster.




                                                                 2021

Kegiatan CSR Sinar Mas Multifinance tahun 2021 berfokus pada penanganan dan pencegahan Covid-19, khususnya bagi karyawan sebagaimana
telah diungkapkan pada uraian Upaya Penanganan Covid-19.
Sinar Mas Multifinance’s CSR activities in 2021 focused on Covid-19 handling and prevention, especially for employees, as stated in
the description of Covid-19 Handling Efforts.



PT AB Sinar Mas Multifinance                                            PT AB Sinar Mas Multifinance


                   2023                                          2022                                           2021

                                                    Edukasi dan Literasi Keuangan
                                                   Financial Education and Literacy

Mengikuti edukasi dan literasi keuangan       Mengikuti edukasi dan literasi keuangan        Mengikuti edukasi dan literasi keuangan
yang diadakan secara offline oleh Asosiasi    yang diadakan secara offline oleh Asosiasi     yang diadakan secara online oleh Asosiasi
Perusahaan Pembiayaan Indonesia di            Perusahaan Pembiayaan Indonesia di             Perusahaan Pembiayaan Indonesia.
Palembang Indah Mall pada tanggal             Festival Citylink Bandung pada tanggal
13-15 Oktober 2023.                           14-16 Oktober 2022.
Participated in financial education and       Participated in financial education and        Participating in the financial education
literacy held offline by Indonesian Finance   literacy held offline by Indonesian Finance    and literacy program organized online by
Company Association at Palembang Indah        Company Association at Festival Citylink       Indonesian Finance Company Association.
Mall on 13-15 October 2023.                   Bandung on 14-16 October 2022.

                                                            Donasi Lainnya
                                                            Other Donations

Kegiatan penggalangan dana untuk              Kegiatan    penggalangan    dana     untuk     Kegiatan    penggalangan    dana     untuk
karyawan dan/atau masyarakat yang             masyarakat yang terkena dampak akibat          masyarakat yang terkena dampak akibat
terkena dampak akibat pandemi Covid-19.       pandemi Covid-19.                              pandemi Covid-19.
Fundraising  for   employees    and/or        Fundraising for communities affected by the    Fundraising for communities affected by the
communities affected by the Covid-19          Covid-19 pandemic.                             Covid-19 pandemic.
pandemic.




             Laporan Tahunan 2023
  274        2023 Annual Report
Page 277
                                                                                 PT SINAR MAS MULTIARTHA TBK




                2023                                       2022                                           2021

                                                  Aktivitas Sosial Lainnya
                                                   Other Social Activities
Menerapkan pengelolaan daur ulang         Menerapkan pengelolaan daur ulang           Menerapkan pengelolaan daur ulang sampah
sampah berdasarkan jenis, yakni sampah    sampah berdasarkan jenis, yakni sampah      berdasarkan jenis, yakni sampah organik dan
organik dan non-organik.                  organik dan non-organik.                    non-organik, serta menjual minyak goreng
                                                                                      dengan harga murah kepada pekerja.
Implementing waste recycling management   Implementing waste recycling management     Implementing waste recycling management
by type, namely organic and non-organic   by type, namely organic and non-organic     by type, namely organic and non-organic
waste.                                    waste.                                      waste, and selling cooking oil at low prices to
                                                                                      workers.




PT Sinarmas Sekuritas                                             PT Sinarmas Sekuritas


                                                           2023

                                               Edukasi dan Literasi Keuangan
                                              Financial Education and Literacy




                                                               SimInvestival Goes to Campus di Institut Pertanian Bogor.
                                                               SimInvestival Goes to Campus at Institut Pertanian Bogor.




                                                        Kesehatan
                                                          Health




                                                               Donor darah bersama Sinarmas Asset Management dalam rangka
                                                               Selamat Hari Kemanusiaan Dunia.
                                                               Blood Donation with Sinarmas Asset Management in celebrating
                                                               World Humanitarian Day.




                                                                                          Laporan Tahunan 2023
                                                                                             2023 Annual Report             275
Page 278
06    LAPORAN KEBERLANJUTAN
      Sustainability Report




                                  2023




                                      Donor darah bersama Yayasan Tzu Chi Indonesia, Palang Merah
                                      Indonesia, dan Sinarmas LDA Maritime dengan mengusung tema
                                      “Mari Berdonor Darah Dan Tuang Celengan Bambu”
                                      Blood Donation with Tzu Chi Indonesia Foundation, Indonesian Red
                                      Cross, and Sinarmas LDA Maritime with the theme “Let’s Donate
                                      Blood and Bamboo Piggy Bank Pouring”




                              Donasi Lainnya
                              Other Donations




                                      Donasi dana sukarelawan karyawan Sinarmas Sekuritas kepada
                                      Yayasan Tri Asih yang menampung 50 anak tunagrahita berupa
                                      sembako, alat mandi, dan alat kebersihan.
                                      Donated volunteer funds from Sinarmas Sekuritas employees to Tri
                                      Asih Foundation which accommodates 50 mentally disabled children
                                      in the form of staple food, toiletries and cleaning equipment.




                                      Sinarmas Sekuritas, melalui SiminvestPeople, memberikan santunan
                                      kepada Taman Asuhan Aisyiyah sebesar Rp17.500.000,-.
                                      Sinarmas Sekuritas, via SiminvestPeople, donated Rp17,500,000 to
                                      Aisyiyah Orphanage.




      Laporan Tahunan 2023
276   2023 Annual Report
Page 279
                                                                                            PT SINAR MAS MULTIARTHA TBK




                                                                    2022

                                                      Edukasi dan Literasi Keuangan
                                                     Financial Education and Literacy
SimInvest bekerja sama dengan Pemerintah Provinsi Sumatera Barat         SimInvest bekerja sama dengan Universitas Kalbis Institute dengan
dengan judul acara “Investasi Digital Rang Mudo”.                        judul acara “Sadar Investasi, Cuan Sejak Dini”.
SimInvest collaborated with the Provincial Government of West            SimInvest collaborated with Universitas Kalbis Institute with the event
Sumatra with the title of the event “Digital Investment Rang Mudo”.      title “Investment Awareness, Profit from Early On”.
SimInvest bekerja sama dengan Sekolah.mu untuk menggelar webinar         SimInvest bekerja sama dengan Emtrade untuk menggelar webinar
berjudul “Mulai Investasi Aman Bagi Karyawan”.                           berjudul “Mengelola Arus Kas Pribadi dan THR untuk Trading dan
                                                                         Investasi Saham”.
SimInvest collaborated with Sekolah.mu to hold a webinar titled          SimInvest collaborated with Emtrade to hold a webinar titled
“Start Safe Investment for Employees”.                                   “Managing Personal Cash Flow and THR for Stock Trading
                                                                         and Investment”.
SimInvest bekerja sama dengan Fakultas Ilmu Komunikasi Universitas       SimInvest bekerja sama dengan Kakak Tingkat untuk menggelar
Padjajaran untuk menggelar webinar berjudul “Start to be Smart           webinar berjudul “Melek Keuangan Digital ala Mahasiswa”
Investor”.
SimInvest collaborated with Faculty of Communication Sciences            SimInvest collaborates with Senior Students to hold a webinar titled
Universitas Padjajaran to hold a webinar titled “Start to be Smart       “Student Style of Digital Financial Literacy “.
Investor”.
SimInvest bekerja sama dengan Universitas Maranatha untuk                SimInvest bekerja sama dengan Direktorat Jenderal Pengelolaan
menggelar seminar berjudul “Investasi Terarah, Masa Depan Cerah”.        Pembiayaan dan Risiko Kementerian Keuangan untuk menggelar
                                                                         Instagram Live berjudul “Financial Planning: Why and How?”.
SimInvest collaborated with Universitas Maranatha to hold a seminar      SimInvest collaborated with the Directorate General of Financing and
titled “Directed Investment, Bright Future”.                             Risk Management of the Ministry of Finance to hold an Instagram
                                                                         Live titled “Financial Planning: Why and How?”.
SimInvest bekerja sama dengan Universitas Mercu Buana untuk              SimInvest bekerja sama dengan Satu Persen untuk menggelar
menggelar webinar berjudul “Investasi Jaman Now: We Better Start Now”.   webinar berjudul “SimInvestival: Start Investing, Create Positive Living”.
SimInvest collaborated with Universitas Mercu Buana to hold a            SimInvest collaborated with Satu Persen to hold a webinar titled
webinar titled “Investment Nowadays: We Better Start Now”.               “SimInvestival: Start Investing, Create Positive Living”.
SimInvest bekerja sama dengan Klik Asuransiku dari Asuransi Simas        SimInvest bekerja sama dengan HRD Bacot untuk menggelar webinar
Jiwa untuk menggelar IG Live berjudul “Financial Freedom Sebelum         berjudul “Career Path Building & Financial Planning”.
30 Tahun, Mungkin Nggak Sih?”.
SimInvest collaborated with Klik Asuransiku from Simas Jiwa              SimInvest collaborated with HRD Bacot to hold a webinar titled
Insurance to hold IG Live titled “Financial Freedom Before 30,           “Career Path Building & Financial Planning”.
Is It Possible?”.
SimInvest bekerja sama dengan Indonesia Capital Market Student           SimInvest bekerja sama dengan Otoritas Jasa Keuangan dan Bursa
Studies, Universitas Indonesia, untuk menggelar seminar berjudul         Efek Indonesia Regional Jambi untuk menggelar seminar berjudul
“Boost Your Personal Finance as A Young Investor”.                       “SimInvestasival Goes to Jambi: Padek Berinvestasi, Cuan Menanti”.
SimInvest collaborated with Indonesia Capital Market Student             SimInvest collaborated with the Financial Services Authority and Indonesia
Studies, Universitas Indonesia, to organize a seminar titled “Boost      Stock Exchange Jambi Regional to hold a seminar titled “SimInvestval
Your Personal Finance as A Young Investor”.                              Goes to Jambi: Invest with Confidence, Reap the Rewards “.




                                                                    2021

                                                      Edukasi dan Literasi Keuangan
                                                     Financial Education and Literacy
Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas             Bekerja sama dengan Bursa Efek Indonesia Sulawesi Selatan,
melaksanakan Sekolah Pasar Modal (SPM) Level 1 secara online pada        Sinarmas Sekuritas menyelenggarakan Live Instagram “Market
tanggal 29 Januari 2021.                                                 Outlook 2021” pada tanggal 1 Februari 2021.
In collaboration with the Indonesia Stock Exchange, Sinarmas             In collaboration with the South Sulawesi Indonesia Stock Exchange,
Sekuritas conducted an online Level 1 Capital Market School (SPM)        Sinarmas Sekuritas organized a Live Instagram “Market Outlook
on 29 January 2021                                                       2021” on 1 February 2021.
Bekerja sama dengan Bursa Efek Indonesia Sulawesi Selatan,               Bekerja sama dengan Bursa Efek Indonesia Yogyakarta, Sinarmas
Sinarmas Sekuritas menyelenggarakan webinar “Sekolah Pasar               Sekuritas Cabang Yogyakarta mengadakan Sekolah Pasar Modal
Modal Online Level 2” pada tanggal 27 Februari 2021.                     Online Level 1 pada 24 Maret 2021.
In collaboration with the South Sulawesi Indonesia Stock Exchange,       In collaboration with the Yogyakarta Indonesia Stock Exchange,
Sinarmas Sekuritas organized a webinar, “Online Level 2 Capital          Sinarmas Sekuritas Yogyakarta Branch organized Online Level 1
Market School” on 27 February 2021.                                      Capital Market School on 24 March 2021.




                                                                                                       Laporan Tahunan 2023
                                                                                                          2023 Annual Report              277
Page 280
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




                                                                2021

Bekerja sama dengan Sinarmas Asset Management dan Bank               Bekerja sama dengan Bursa Efek Indonesia Bali, Sinarmas Sekuritas
Sinarmas, Sinarmas Sekuritas mengadakan webinar “Inflation: Two      mengadakan Live Instagram membahas “Market Outlook Quarter 2
Sides of A Coin” dengan pembicara Robert A Simanjuntak (Guru         2021” pada 12 April 2021.
Besar Fakultas Ekonomi dan Bisnis, Universitas Indonesia) pada
29 Maret 2021.
In collaboration with Sinarmas Asset Management and Bank             In collaboration with Bali Indonesia Stock Exchange, Sinarmas Sekuritas
Sinarmas, Sinarmas Sekuritas organized a webinar, “Inflation: Two    organized a Live Instagram discussing “Market Outlook Quarter 2
Sides of A Coin,” with speaker Robert A Simanjuntak (Professor of    2021” on 12 April 2021.
the Faculty of Economics and Business, Universitas Indonesia), on
29 March 2021.
Mengadakan webinar “Market Review: Era Suku Bunga Rendah Efektif     Mengadakan webinar “Market Review: How Vaccination and Technology
untuk Pacu Konsumsi?”.                                               will Shape Retail Industry”.
Organizing a webinar, “Market Review: Era of Low-Interest Rates      Organizing a webinar, “Market Review: How Vaccination and
Effective to Stimulate Consumption?”.                                Technology will Shape Retail Industry”
Mengadakan webinar “Market Review: Construction Sector | Main        Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas
Challenges and Stimulus for The Construction Sector”.                melaksanakan SPM Level 1 secara online pada tanggal 21 Mei 2021.
Organizing a webinar, “Market Review: Construction Sector | Main     In collaboration with the Indonesia Stock Exchange, Sinarmas
Challenges and Stimulus for the Construction Sector.”                Sekuritas held Online Level 1 SPM on 21 May 2021.
Mengadakan webinar “Market Review: Banking Sector on Course for      Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas
A Stronger Earnings” pada 25 Mei 2021.                               melaksanakan SPM Level 1 secara online pada tanggal 25 Juni 2021.
Organizing a webinar, “Market Review: Banking Sector on Course for   In collaboration with the Indonesia Stock Exchange, Sinarmas
A Stronger Earnings” on 25 May 2021.                                 Sekuritas held online Level 1 SPM on 25 June 2021.
Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas         Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas
melaksanakan SPM Level 1 secara online pada tanggal 30 Juli 2021.    melaksanakan webinar “Prospek IPO Perusahaan E-Commerce”
                                                                     pada 5 Agustus 2021.
In collaboration with the Indonesia Stock Exchange, Sinarmas         In collaboration with the Indonesia Stock Exchange, Sinarmas
Sekuritas conducted online Level 1 SPM on 30 July 2021.              Sekuritas held “Prospects of E-Commerce Company’s IPO” webinar
                                                                     on 5 August 2021.
Bekerja sama dengan Bursa Efek Indonesia Bangka Belitung,            Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas
Sinarmas Sekuritas mengadakan Live Instagram membahas                melaksanakan SPM Level 1 secara online pada tanggal 28 Oktober
“Seberapa Menarik Investasi di Sektor Finansial Saat Ini?” pada      2021.
tanggal 3 September 2021.
In collaboration with Bangka Belitung Indonesia Stock Exchange,      In collaboration with the Indonesia Stock Exchange, Sinarmas
Sinarmas Sekuritas organized a Live Instagram discussing             Sekuritas conducted online Level 1 SPM on 28 October
“How Attractive is Investment in the Financial Sector Right Now?”    2021.
on 3 September 2021.
Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas         Bekerja sama dengan Bursa Efek Indonesia, Sinarmas Sekuritas
melaksanakan SPM Level 1 secara online pada tanggal 26 November      melaksanakan SPM Level 1 secara online pada tanggal 10 Desember
2021.                                                                2021.
In collaboration with the Indonesia Stock Exchange, Sinarmas         In collaboration with the Indonesia Stock Exchange, Sinarmas
Sekuritas conducted online Level 1 SPM on 26 November 2021.          Sekuritas conducted online Level 1 SPM on 10 December 2021.
                                                          Donasi Lainnya
                                                          Other Donations
Menyampaikan Ucapan Hari Ulang Tahun (HUT) Otoritas Jasa             Menyampaikan Ucapan HUT BPJS Ketenagakerjaan sebesar Rp25,5 juta.
Keuangan yang ke 10 sebesar Rp30 juta.
Donated Rp30 million for the 10th Anniversary of the Financial       Donated Rp25.5 million for BPJSTKU Anniversary.
Services Authority.




             Laporan Tahunan 2023
 278         2023 Annual Report
Page 281
                                                                                      PT SINAR MAS MULTIARTHA TBK




PT Sinarmas Asset Management                                           PT Sinarmas Asset Management


                                                                2023

                                                   Edukasi dan Literasi Keuangan
                                                  Financial Education and Literacy
Sharia Investment Week secara virtual pada 15-17 Juni 2023.          Turut serta dalam Capital Market Summit & Expo 2023 pada tanggal
                                                                     26-28 Oktober 2023.
Sharia Investment Week virtually on 15-17 June 2023.                 Participating in Capital Market Summit & Expo 2023 on
                                                                     26-28 October 2023.
                                                              Kesehatan
                                                                Health
Donor darah bersama Sinarmas Sekuritas dalam rangka Selamat Hari Kemanusiaan Dunia.
Blood Donation with Sinarmas Sekuritas in celebrating World Humanitarian Day.




                                                                2022

                                                   Edukasi dan Literasi Keuangan
                                                  Financial Education and Literacy
Bekerja sama dengan Sinarmas Sekuritas menggelar Market Outlook 2022 dengan judul acara “Gaining from Global Disorder”.
In collaboration with Sinarmas Sekuritas to hold Market Outlook 2022 with the event title “Gaining from Global Disorder”.




                                                                2021

                                                   Edukasi dan Literasi Keuangan
                                                  Financial Education and Literacy
Menyelenggarakan Webinar “Langkah Pemerintah dalam Membangun         Menyelenggarakan Webinar “Cerdas Ambil Keputusan di Tengah Tren
Indonesia Tahun 2021” pada 15 Januari 2021 dengan pembicara          Investasi” pada 18 Februari 2021 dengan pembicara Hasan Fawzi
Luhut Binsar Pandjaitan (Menteri Koordinator Bidang Kemaritiman      (Direktur Pengembangan Bursa Efek Indonesia), serta jumlah peserta
& Investasi), Bahlil Lahadalia (Kepala Badan Koordinasi Penanaman    sebanyak 185 orang.
Modal), Saleh Husin (Managing Director Sinar Mas), serta jumlah
peserta sebanyak 520 orang.
Organizing a Webinar, “Government Steps in Developing Indonesia      Organizing a Webinar, “Smart Decision Making Amid Investment
in 2021” on 15 January 2021, with speakers Luhut Binsar Pandjaitan   Trends” on 18 February 2021, with Hasan Fawzi (Director of
(Coordinating Minister for Maritime Affairs & Investments), Bahlil   Development of the Indonesia Stock Exchange) as the speaker,
Lahadalia (Head of the Investment Coordinating Board), Saleh Husin   with 185 participants.
(Managing Director of Sinar Mas), with 520 participants.




PT Pasar Dana Pinjaman                                                 PT Pasar Dana Pinjaman


                                                                2023

                                                   Edukasi dan Literasi Keuangan
                                                  Financial Education and Literacy
Menyelenggarakan kegiatan literasi dan inklusi keuangan melalui media sosial Instagram secara rutin sebanyak 4 kali. Kegiatan berupa
sosialisasi kepada masyarakat dengan berbagai tema, dengan tujuan memberikan pengetahuan dan keterampilan dalam mengelola keuangan.
Held regular financial literacy and inclusion events via social media Instagram 4 times. These events will involve community outreach by
covering various themes, to provide knowledge and skills in managing finances.




                                                                                                Laporan Tahunan 2023
                                                                                                   2023 Annual Report           279
Page 282
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




                                                                  2022

                                                     Edukasi dan Literasi Keuangan
                                                    Financial Education and Literacy
Menyelenggarakan kegiatan literasi dan inklusi keuangan melalui media sosial Instagram secara rutin dengan total sebanyak 24 kali.
Kegiatan ini berupa sosialisasi kepada masyarakat dengan berbagai tema dengan tujuan memberikan pengetahuan dan keterampilan dalam
mengelola keuangan.
Regular financial literacy and inclusion events will be conducted through Instagram social media, with a total of 24 sessions. These events
will involve community outreach and cover various themes to equip individuals with the knowledge and skills necessary to manage their
finances effectively.
                                                               Kesehatan
                                                                 Health
Berpartisipasi dalam donor darah.
Participated in blood donation.



                                                                  2021

                                                     Edukasi dan Literasi Keuangan
                                                    Financial Education and Literacy
Mengikuti Fintech Days di Malang pada 25-26 November 2021 dengan      Dalam rangka Bulan Inklusi Keuangan yang diselenggarakan Otoritas
tema “Alternatif Pendanaan Modal Usaha Fintech untuk UMKM”.           Jasa Keuangan, Danamas berpartisipasi dalam kegiatan FINBIK EXPO
                                                                      tahun 2021 yang dilaksanakan pada tanggal 18 Oktober-2 November
                                                                      2021 dengan tema “Inklusi Keuangan untuk Semua, Bangkitkan
                                                                      Ekonomi Bangsa”.
Participating in Fintech Days in Malang on 25-26 November 2021 with   Celebrating Financial Inclusion Month organized by the Financial
the theme “Alternative Fintech Business Capital Funding for MSMEs”.   Services Authority, Danamas participated in the 2021 FINBIK EXPO
                                                                      held on 18 October-2 November 2021, with a theme “Financial
                                                                      Inclusion for All, Awakening the Nation’s Economy”.
                                                               Kesehatan
                                                                 Health
Berpartisipasi dalam kegiatan donor darah.
Participating in blood donation activities.




PT Sinarmas Ventura                                                      PT Sinarmas Ventura


                                                                  2023

Edukasi dan Literasi Keuangan
Financial Literacy and Inclusion




Bekerjasama dengan Universitas Prasetiya Mulya untuk pengenalan lembaga pembiayaan modal ventura kepada mahasiswa.
In collaboration with Universitas Prasetiya Mulya to introduce venture capital financing institutions to students.




             Laporan Tahunan 2023
  280        2023 Annual Report
Page 283
                                                                                          PT SINAR MAS MULTIARTHA TBK




                                                                    2022

                                                       Literasi dan Inklusi Keuangan
                                                      Financial Literacy and Inclusion
Bekerja Sama dengan PT Agate Internasional dan PT Telkom Indonesia Tbk (Indigo Incubator) menyelenggarakan sosialisasi melalui sarana
online webinar mengenai pengenalan lembaga pembiayaan modal ventura kepada start-up developer game di Indonesia.
In collaboration with PT Agate Internasional and PT Telkom Indonesia Tbk (Indigo Incubator) held a socialization through online webinar
facilities regarding the introduction of venture capital financing institutions to start-up game developers in Indonesia.



                                                                    2021

                                                       Literasi dan Inklusi Keuangan
                                                      Financial Literacy and Inclusion
Menyelenggarakan sosialisasi melalui sarana online webinar mengenai karakteristik usaha modal ventura kepada pengembang game
bekerja sama dengan PT Agate Internasional.
Organizing socialization via online webinar facilities on the characteristics of venture capital businesses to game developers in collaboration
with PT Agate Internasional.




PT Bank Nano Syariah                                                       PT Bank Nano Syariah


                                                                    2023

                                                      Edukasi dan Literasi Keuangan
                                                      Financial Literacy and Inclusion




Pada tanggal 28 September 2023, Nanobank Syariah mengadakan             Nanobank Syariah bekerja sama dengan Myskill.id dalam kegiatan
Nebeng Kopdar Vol. 11. Melalui kegiatan ini, Nanobank Syariah           HR Connect membahas “Industrial Relation dan Isu Ketenagakerjaan”.
memberikan fasilitas Community Hub sebagai bentuk dukungan untuk        Kegiatan ini dihadiri lebih dari 50 peserta yang datang dari berbagai
para UMKM agar menjadi lebih baik.                                      industry yang berbeda.
On 28 September 2023, Nanobank Syariah held Nebeng Kopdar               Nanobank Syariah in collaboration with Myskill.id in HR
Vol. 11. With this event, Nanobank Syariah provides Community Hub       Connect event discussing "Industrial Relations and Employment
facility as a form of support for MSMEs to be better.                   Issues". This event was attended by more than 50 participants
                                                                        coming from various industries.
                                                        Pemberdayaan Masyarakat
                                                        Community Empowerment


                                                                        Untuk meningkatkan kecakapan dalam berbisnis, Nanobank
                                                                        Syariah memfasilitasi para barista untuk meningkatkan skill melalui
                                                                        workshop bertajuk Coffee Cupping, Specialty Coffee/Artisan Coffee yang
                                                                        merupakan metode analisis yang digunakan untuk mengevaluasi
                                                                        kualitas kopi. Metode ini digunakan untuk sampel kopi, mulai dari
                                                                        kualitas keseluruhan hingga karakteristik individu dari kopi, seperti
                                                                        keasaman atau body dan catatan rasa tertentu di dalamnya.
                                                                        To improve skills in business, Nanobank Syariah facilitates baristas
                                                                        to improve their skills through a workshop entitled Coffee Cupping,
                                                                        Specialty Coffee/Artisan Coffee, which is an analytical method used
                                                                        to evaluate coffee quality. This method is used to sample coffee,
                                                                        ranging from overall quality to individual characteristics of the
                                                                        coffee, such as acidity or body and certain flavor notes in it.




                                                                                                     Laporan Tahunan 2023
                                                                                                        2023 Annual Report             281
Page 284
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




PT Asuransi Simas Insurtech                                                 PT Asuransi Simas Insurtech


                                                                     2023




                                                                          Melaksanakan program literasi dan inklusi keuangan di Kampung
                                                                          Bali, Jakarta dan SD Leuwiranji 5, Bogor.
                                                                          Carrying out financial literacy and inclusion program in Kampung
                                                                          Bali, Jakarta and SD Leuwiranji 5, Bogor.




Mengadakan acara literasi dan inklusi keuangan berkolaborasi dengan Asuransi Sinar Mas di Kampung Bali, Jakarta.
Carrying out financial literary and inclusion event, in collaboration with Sinar Mas Insurance in Kampung Bali, Jakarta.




                                                                     2022

Melaksanakan program literasi dan inklusi keuangan di SMPN 1 Merauke dan SMK Krida Taruna Banten.
Carrying out financial literacy and inclusion program in SMPN 1 Merauke and SMK Krida Taruna Banten.



                                                                     2021

Melaksanakan program literasi dan inklusi keuangan di Yayasan Ma’ariful Ulum, Palembang dan Yayasan Baitul Janah, Lampung.
Carrying out financial literacy and inclusion program in Ma’ariful Ulum Foundation, Palembang and Baitul Janah Foundation, Lampung.




PT Dana Pinjaman Inklusif                                                   PT Dana Pinjaman Inklusif


                                                                     2023

                                                              Literasi Keuangan
                                                              Financial Literacy




Pada tanggal 23 Juni 2023, mengadakan literasi keuangan dengan            Pada tanggal 23 Juni 2023, mengadakan literasi keuangan dengan
judul “Facing The Dangers of Financial Distress in The Era of Financial   tema “Kenali Bentuk Penipuan pada Industri Finansial di Era Digital”
Technology”.                                                              hal ini disambut baik oleh publik untuk membantu lebih mengenali
                                                                          risiko dan cara pencegahan pada era teknologi finansial.
On 23 June 2023, conducted financial literacy event titled “Facing The    On 23 June 2023, conducted financial literacy event themed
Dangers of Financial Distress in The Era of Finacial Technology”.         “Identifying Fraud in Financial Industry in the Digital Era”, received
                                                                          warm welcome by the public to further help in identifying the risks
                                                                          and ways to prevent them in the era of financial technology.




              Laporan Tahunan 2023
  282         2023 Annual Report
Page 285
                                                                               PT SINAR MAS MULTIARTHA TBK




PT Reasuransi Nusantara Makmur                                    PT Reasuransi Nusantara Makmur
Reasuransi Nusantara Makmur senantiasa menyelenggarakan           Reasuransi Nusantara Makmur constantly carrying out
program literasi dan inklusi keuangan mengenai perencanaan        financial literacy and inclusion program on financial
keuangan, asuransi, dan reasuransi.                               planning, insurance and reinsurance.


Sarana Pengaduan Masalah                                          Community Dispute Management
Kemasyarakatan
Pengaduan masalah terkait pelaksanaan program                     Complaints regarding the implementation of social and
pengembangan sosial dan kemasyarakatan dapat disampaikan          community development programs can be submitted
melalui email dan telepon yang tertera di situs web               through email and phone listed on the websites of the
Perseroan dan Entitas Anak. Setiap pelaporan yang diterima        Company and its Subsidiaries. Every report received
akan ditindaklanjuti secara bijak, objektif, dan profesional.     will be followed up wisely, objectively, and professionally.


Tidak terdapat pengaduan masalah terkait pelaksanaan              There were no complaints regarding the implementation of
pengembangan sosial dan kemasyarakatan yang berdampak             social and community development that had a significant
signifikan terhadap Perseroan dan Entitas Anak dalam              impact on the Company and its Subsidiaries in the
3 tahun terakhir.                                                 last 3 years.


Biaya Pengembangan Sosial dan                                     Social and Community Development Costs
Kemasyarakatan
Biaya yang dikeluarkan Perseroan dan Entitas Anak untuk           The costs incurred by the Company and its Subsidiaries for
kegiatan pengembangan sosial dan kemasyarakatan                   social and community development activities are described
diungkapkan pada tabel berikut.                                   in the following table.

                                                                                              (dalam jutaan Rupiah / in million Rupiah)

                            Nama Perusahaan
                                                                  2023                  20221)                     20211)
                             Company Name

     PT Sinar Mas Multiartha                                       1,087                   246                       14,738
     PT Bank Sinarmas Tbk                                          2,483                  2,394                        1,386
     PT Asuransi Sinar Mas                                           578                   757                         1,984
     PT Asuransi Simas Jiwa                                           37                   337                            38
     PT Sinar Mas Multifinance                                        30                   232                           450
     PT AB Sinar Mas Multifinance                                     50                     50                           50
     PT Sinarmas Sekuritas                                               -                 101                           118
     PT Pasar Dana Pinjaman                                              -                    -                         0.82
     PT Sinarmas Ventura                                                 -                    -                           10
     PT Reasuransi Nusantara Makmur                                      -                 2.50                             2
     Total                                                       4,265.00              4,119.50                  18,776.82
1)
     Perhitungan Kembali. / Recalculation.




Kepedulian terhadap Nasabah                                       Customer Care

Perseroan menyadari keberadaan nasabah merupakan                  The Company realizes the existence of customer as one
salah satu pemangku kepentingan yang memiliki andil dalam         of the stakeholders with big contribution in the business
besar dalam keberlanjutan usaha. Oleh karena itu, Perseroan       sustainability. Therefore, the Company strives to improve
berupaya untuk meningkatkan pelayanan dan kepuasan                customer service and satisfaction by implementing the best
nasabah dengan menerapkan sistem pelayanan terbaik.               service system.


Program Peningkatan Kualitas Produk dan                           Product and Service Quality Improvement
Layanan                                                           Program
Perseroan memberikan arahan kepada Entitas Anak untuk             The Company provides directions for its Subsidiaries to keep
terus meningkatkan mutu produk dan layanan yang diberikan         on improving the quality of products and services provided
kepada nasabah, baik itu individu maupun korporat. Produk         to the customers, both individuals and corporates. Products
yang diproduksi oleh Entitas Anak diharapkan memiliki kualitas    from the Subsidiaries are expected to have superior quality




                                                                                         Laporan Tahunan 2023
                                                                                            2023 Annual Report             283
Page 286
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




unggul dan dapat bersaing di tingkat nasional. Peningkatan     and able to compete nationally. Service improvements are
layanan turut dilakukan melalui:                               also carried out through:
1. Nomor kontak dan email khusus;                              1. Special contact number and email;
2. Situs web Perseroan; dan                                    2. Company’s website; and
3. Sosial Media.                                               3. Social media.


Kepedulian terhadap Kesehatan Nasabah                          Customer Health Care
Protokol kesehatan dalam rangka memutus penyebaran             Health protocols to stop the spread of Covid-19 are also
Covid-19 juga diterapkan bagi nasabah, seperti:                applied to customers, such as:
1. Pemeriksaan suhu tubuh;                                     1. Body temperature check;
2. Pengaturan antrean nasabah; serta                           2. Customer queue management; as well as
3. Pembatasan kontak langsung antara karyawan dan              3. Limitation of direct contact between employees and
   nasabah, salah satunya dengan peningkatan layanan              customers, one of which is by increasing the e-channel
   e-channel yang dimiliki Entitas Anak agar transaksi            services owned by Subsidiaries to enable customer
   keuangan nasabah dapat dilakukan melalui media                 financial transactions to be carried out through these
   tersebut.                                                      media.


Program Engagement Nasabah                                     Customer Engagement Program
Kerja sama yang solid dan harmonis antara Perseroan, Entitas   Solid and harmonious relationship between the Company,
Anak, dan nasabah dibangun melalui penyelenggaraan             Subsidiaries, and customers are built through implementation
berbagai program, seperti seminar, acara perayaan, dan         of various programs, i.e., seminar, celebration, and
inisiatif lainnya.                                             other initiatives.


Jaminan Perlindungan Simpanan Nasabah                          Customer Deposit Protection Guarantee
Sebagai perusahaan keuangan, Perseroan dan Entitas             As a financial company, the Company and its Subsidiaries
Anak mengakui pentingnya kepercayaan nasabah dalam             realize that customer trust is essential to foster loyalty. In
membangun loyalitas. Untuk menjaga kepercayaan                 maintaining the trust, the Company and its Subsidiaries
tersebut, Perseroan dan Entitas Anak memberikan jaminan        guarantee the protection for customer deposits through
perlindungan bagi simpanan nasabah melalui Lembaga             the Deposit Insurance Agency (LPS) in accordance with the
Penjamin Simpanan (LPS) sesuai dengan ketentuan yang           provisions of Law No. 24 of 2004 concerning the Deposit
tercantum dalam Undang-Undang No. 24 Tahun 2004 tentang        Insurance Corporation.
Lembaga Penjamin Simpanan.


Jaminan Kerahasiaan Data Nasabah                               Customer Data Confidentiality Guarantee
Perseroan dan Entitas Anak juga memiliki tanggung jawab        The Company and its Subsidiaries also have the
untuk memastikan kerahasiaan data nasabah tetap                responsibility to guarantee the confidentiality of customer
terjaga agar tidak disalahgunakan oleh pihak yang tidak        data so they will not be misused by irresponsible
bertanggung jawab. Oleh karena itu, Perseroan dan Entitas      parties. Thus, the Company and its Subsidiaries are
Anak berkomitmen untuk menjaga kerahasiaan data                committed to maintain the confidentiality of customer
nasabah sesuai dengan ketentuan yang tercantum dalam           data following the Financial Services Authority Regulation
Peraturan Otoritas Jasa Keuangan No. 1/POJK.07/2013            No. 1/POJK.07/2013 on Consumer Protection in the
tentang Perlindungan Konsumen Sektor Jasa Keuangan,            Financial Services Sector, Financial Services Authority
Surat Edaran Otoritas Jasa Keuangan No. 14/SEOJK.07/2014       Circular   Letter    No.   14/SEOJK.07/2014      concerning
mengenai Kerahasiaan dan Keamanan Data serta Informasi         Confidentiality and Security of Data and Consumer
Pribadi Konsumen, Undang-Undang No. 27 tahun 2022              Personal Information, Law No. 27 of 2022 concerning
tentang Perlindungan Data Pribadi, serta Peraturan Otoritas    Personal Data Protection, as well as Financial Services
Jasa Keuangan No. 22 tahun 2023 tentang Pelindungan            Authority Regulation No. 22 of 2023 on Consumer and
Konsumen dan Masyarakat di Sektor Jasa Keuangan.               Community Protection in the Financial Service Sector.


Pusat Pengaduan Nasabah                                        Customer Complaint Centre
Untuk menjaga keamanan dan kenyamanan nasabah,                 To maintain customer safety and convenience, the
Perseroan dan Entitas Anak menawarkan opsi untuk               Company and its Subsidiaries provide options to receive
menerima pertanyaan dan keluhan melalui email                  customer inquiries and complaints, through company email:
perusahaan di multiartha@smma.com dan melalui alamat           multiartha@smma.com or email and telephone listed on the
email serta nomor telepon yang tercantum di situs web          respective Subsidiaries’ websites.
masing-masing Entitas Anak.




             Laporan Tahunan 2023
  284        2023 Annual Report
Page 287
                                                                                     PT SINAR MAS MULTIARTHA TBK




Tidak terdapat laporan pengaduan nasabah yang berdampak                There have been no customer complaints reports with a
signifikan terhadap Perseroan dan Entitas Anak dalam                   significant impact on the Company and its Subsidiaries in
3 tahun terakhir.                                                      the last 3 years.


Survei Kepuasan Nasabah                                                Customer Satisfaction Survey
Kepuasan nasabah dievaluasi melalui survei tingkat kepuasan            Customer satisfaction is evaluated through a customer
nasabah setidaknya setahun sekali. Tingkat kepuasan                    satisfaction level survey at least once a year. The level
nasabah tersebut dapat dimonitor melalui indeks kepuasan               of customer satisfaction can be monitored through the
pelanggan (customer satisfaction index/CSI). Beberapa Entitas          customer satisfaction index (CSI). Several of the Company’s
Anak Perseroan, yakni Bank Sinarmas, Asuransi Simas Jiwa,              Subsidiaries, such as Bank Sinarmas, Asuransi Simas Jiwa,
dan Sinartama Gunita telah melaksanakan survei kepuasan                and Sinartama Gunita have conducted customer satisfaction
nasabah dengan rincian sebagai berikut.                                surveys with the following details.


PT Bank Sinarmas Tbk                                                   PT Bank Sinarmas Tbk
Sebagai cara untuk mengukur kepuasan nasabah terhadap                  As a way of measuring customer satisfaction with Bank
layanan Bank Sinarmas, petugas Customer Service Sales Officer          Sinarmas services, the Customer Service Sales Officer
(CSSO) dan Teller memberikan koin penilaian kepuasan                   (CSSO) and Teller give customer satisfaction assessment
kepada setiap nasabah setelah mereka melakukan transaksi               coin to each customer when they finished their transactions
di Bank Sinarmas.                                                      at Bank Sinarmas.


Adapun tujuan dari dilakukannya survei penilaian kepuasan              The objectives of the customer satisfaction assessment
nasabah tersebut antara lain:                                          survey include:
1. Mengetahui tingkat kepuasan nasabah Bank Sinarmas;                  1. Knowing the level of customer satisfaction of Bank
2. Sebagai masukan untuk melakukan perbaikan yang                          Sinarmas;
   berkelanjutan (continuous improvement); serta                       2. As input to make continuous improvement; as well as
3. Menjaga standarisasi pelayanan dan penampilan Petugas               3. Maintaining standardization of service and appearance
   Frontliner sehingga dapat memenuhi kebutuhan nasabah.                   of Frontliner Officers to meet the customer’s needs.


Parameter Penilaian                                                    Rating Parameters
1. Pelayanan Petugas Frontliner; dan                                   1. Frontliner Officer Services; and
2. Penampilan Petugas Frontliner.                                      2. Frontliner Officer Appearance.


Tools yang Digunakan                                                   Tools Used
1. Koin penilaian kepuasan nasabah (manual); serta                     1. Customer satisfaction rating coin (manual); as well as
2. Koin Digital (Scan QR dan Tab).                                     2. Digital Coin (QR Scan and Tab).


TABEL NILAI KOIN PENILAIAN KEPUASAN
Satisfaction Rating Coin Value Table

                                    Poor                       Good                          Excellent
       Uraian                                                                                                         Description
                        2023        2022     2021     2023     2022       2021      2023      2022       2021

 Kantor Konvensional    0.004%      0.002%   0.019%   4.560%   6.560%     9.799%   95.436%    93.438%    90.182%   Conventional Office
 Kantor Syariah         0.002%      0.000%   0.006%   3.235%   5.213%     8.015%   96.765%    94.787%    91.979%   Sharia Office
 Rata-Rata              0.002%      0.001%   0.013%   3.898%   5.886%    8.907%    96.101%   94.113%     91.081%   Average


PT Asuransi Simas Jiwa                                                 PT Asuransi Simas Jiwa


              Indikator                        2023             2022               2021                      Indicator

 Apakah Anda puas dengan pelayanan                                                             Are you satisfied with our company’s
                                               3.80             4.01               3.81
 perusahaan kami                                                                               service
 Seberapa cepat respons kami untuk                                                             How quickly we respond to your
                                               3.63             3.82               3.70
 pertanyaan/permintaan Anda                                                                    questions/requests
 Seberapa mudah akses call center                                                              How easy is it to access our company
                                               3.58             3.74               3.62
 perusahaan kami                                                                               call center




                                                                                               Laporan Tahunan 2023
                                                                                                  2023 Annual Report          285
Page 288
06               LAPORAN KEBERLANJUTAN
                 Sustainability Report




                  Indikator                              2023                  2022                  2021                             Indicator

 Apakah produk kami sesuai dengan
                                                          3.70                  3.88                  3.71           Do our products suit your needs
 kebutuhan Anda
 Menurut Anda, bagaimana kualitas                                                                                    What do you think about the quality of
                                                          3.70                  3.84                  3.72
 produk kami                                                                                                         our products
 Apakah produk kami memiliki nilai yang                                                                              Does our products have a value that is
                                                          3.69                  3.80                  3.67
 seimbang dengan harganya                                                                                            worth the price
 Apakah Anda bersedia untuk membeli                                                                                  Are you willing to buy other products
                                                          3.29                  3.60                  3.48
 produk lain dari Asuransi Simas Jiwa                                                                                from Asuransi Simas Jiwa
 Apakah Anda sering mengunjungi situs
                                                          3.01                  3.18                  3.09           Do you often visit our company website
 web perusahaan kami
 Apakah Anda bersedia merekomendasi                                                                                  Are you willing to recommend Simas
 produk/perusahaan Asuransi Simas                         3.44                  3.63                  3.53           Life Insurance products/companies
 Jiwa kepada teman atau keluarga                                                                                     to friends or family
 Total Nilai                                              3.54                  3.72                  3.59           Total Value
                                                    Cukup Puas            Cukup Puas            Cukup Puas
 Kategori                                                                                                            Category
                                                   Quite Satisfied       Quite Satisfied       Quite Satisfied
Catatan / Notes:
Bobot Kategori Survei / Survey Category Weight:
• Sangat Puas=5, Puas=4, Cukup Puas=3, Tidak Puas=2, Sangat Tidak Puas=1 / Very Satisfied=5, Satisfied=4, Quite Satisfied=3, Not Satisfied=2, Very Dissatisfied=1
• Total Nilai = Nilai Rata-Rata / Total Value = Average Value




PT Sinartama Gunita                                                                    PT Sinartama Gunita


HASIL SURVEI KEPUASAN NASABAH TAHUN 2023
2023 Customer Satisfaction Survey Results

                                               Tidak          Kurang         Cukup                         Sangat
                                                Puas           Puas           Puas           Puas           Puas
                 Uraian                                                                                                               Description
                                                Not            Less          Quite         Satisfied        Very
                                              Satisfied      Satisfied      Satisfied                     Satisfied

 Layanan jasa atas kegiatan                                                                                              Services provided on Securities
                                                                                                                x
 Registrasi Efek                                                                                                         Registration
 Layanan jasa atas pelaporan                                                                                             Services for periodic (monthly)
 berkala (bulanan) atas kegiatan                                                                                x        reporting on Securities Registration
 Registrasi Efek                                                                                                         activities
 Layanan jasa atas penyelenggaraan                                                                                       Services for holding the Annual/
 Rapat Umum Pemegang Saham                                                                                      x        Extraordinary General Meeting
 Tahunan/Luar Biasa                                                                                                      of Shareholders
 Layanan jasa atas proses                                                                                                Services for the process of
                                                                                                 x
 kegiatan Corporate Action                                                                                               Corporate Action activities
 Layanan jasa atas penyajian Daftar                                                                                      Services for the presentation of
                                                                                                                x
 Pemegang Saham                                                                                                          the List of Shareholders
 Layanan jasa atas Jawaban                                                                                               Services for Answers
 dalam rangka konsultasi yang                                                                                            in the context of consulting
 diberikan kepada Emiten                                                                                                 provided to
 sehubungan dengan peraturan-                                                                                   x        Issuers in relation to capital
 peraturan pasar modal dan                                                                                               market regulations and
 jadwal-jadwal mengenai kegiatan                                                                                         schedules regarding Corporate
 Corporate Action                                                                                                        Action activities



Inovasi dan Pengembangan Produk dan/atau                                               Innovation and Development of Sustainable
Jasa Keuangan Berkelanjutan                                                            Financial Products and/or Services
Berikut merupakan informasi tentang inovasi dan                                        Following is the information on the innovation and
pengembangan produk dan/atau layanan keuangan                                          development      of     sustainable   financial   products
berkelanjutan yang dilakukan oleh Entitas Anak Perseroan.                              and/or services carried out by the Company’s Subsidiaries.




                 Laporan Tahunan 2023
   286           2023 Annual Report
Page 289
                                                                                                  PT SINAR MAS MULTIARTHA TBK




                                                              PT Bank Sinarmas Tbk
Bank Sinarmas meyakini prinsip kesetaraan dalam pemberian                      Bank Sinarmas believes in the principle of equality in providing services for
layanan atas produk dan/atau jasa keuangan berkelanjutan. Sebagai              sustainable financial products and/or services. As a form of responsibility
bentuk tanggung jawab kepada seluruh pemangku kepentingan,                     to all stakeholders, the Bank aspires to provide equal products and
Bank beraspirasi untuk memberikan pelayanan produk dan jasa                    services for all customers and partners.
yang setara bagi semua nasabah dan mitra.

Bank Sinarmas terus berupaya melakukan inovasi dan pengembangan                Bank Sinarmas continues to innovate and develop products through
produk melalui transformasi digital guna menambah jumlah dan                   digital transformation to increase the number and percentage of
persentase produk dan jasa keuangan berkelanjutan. Pengembangan                sustainable financial products and services. The development of
transformasi digital dalam keuangan berkelanjutan ini akan terus               digital transformation in this sustainable finance will be continued
dilakukan hingga menjadi norma baru di dalam kegiatan operasional              until it becomes the new norm in banking operations. Customers no
perbankan. Nasabah tidak perlu lagi datang ke Bank untuk melakukan             longer need to visit the Bank to make transactions, indirectly reducing
transaksi sehingga secara tidak langsung dapat membantu pengurangan            pollution and emission levels due to reduced transportation activities.
tingkat polusi dan emisi akibat berkurangnya aktivitas transportasi.

                                                              PT Asuransi Sinar Mas
Sebagai perusahaan asuransi umum terkemuka di Indonesia,                       As the leading general insurance company in Indonesia, Sinar Mas
Asuransi Sinar Mas selalu melakukan inovasi produk jasa asuransi               Insurance constantly innovating on insurance service products and
serta pengembangan produk sebagai upaya untuk meningkatkan                     product development as an effort to improve customer comfort
kenyamanan dan keamanan nasabah, di mana produk yang                           and security, while the products developed are tailored to industry
dikembangkan disesuaikan dengan kebutuhan industri. Pemasaran                  needs. Product marketing is conducted via various marketing
produk dilakukan melalui berbagai saluran pemasaran seperti agen,              channels such as agents, brokers, direct and digital marketing to
broker, pemasaran secara langsung dan secara digital dalam rangka              support environmental sustainability.
mendukung kelestarian lingkungan.

Dalam melakukan pengelolaan bisnis, Asuransi Sinar Mas secara                  In managing its business, Sinar Mas Insurance continuously evaluates
terus-menerus melakukan evaluasi atas kegiatan yang dilakukan,                 the activities conducted, to maintain the trust of all stakeholders. All
untuk menjaga kepercayaan seluruh pemangku kepentingan.                        products marketed have been approved by the Financial Services
Seluruh produk yang dipasarkan seluruhnya telah memperoleh                     Authority and all marketers have received ongoing training and
persetujuan dari Otoritas Jasa Keuangan dan seluruh tenaga                     education to improve their competency.
pemasar menerima pelatihan dan pendidikan secara berkelanjutan
untuk meningkatkan kompetensi.

                                                             PT Asuransi Simas Jiwa
Terdapat 16 produk baru yang sudah mendapat persetujuan                        Sixteen new products received approval from the Financial Services
Otoritas Jasa Keuangan, yaitu Produk Asuransi Simas Dana Pasti,                Authority, namely Simas Dana Pasti Insurance Product, SiJi Rich Life
Asuransi SiJi Rich Life, Asuransi SiJi Enjoy Life, Asuransi SiJi Fixed Link,   Insurance, SiJi Enjoy Life Insurance, SiJi Fixed Link Insurance, Siji Care
Siji Care Protection Syariah, Simas Investa Link Syariah, SiJi Proteksi        Protection Syariah, Simas Investa Link Syariah, SiJi Proteksi Pasti
Pasti Syariah, Asuransi SiJi Guard 2 Syariah, Asuransi SiJi Guard 3            Syariah, SiJi Guard 2 Syariah Insurance, SiJi Guard 3 Syariah Insurance,
Syariah, Asuransi SiJi Guard 4 Syariah, Asuransi SiJi Secure 1 Syariah,        SiJi Guard 4 Syariah Insurance, SiJi Secure 1 Syariah Insurance, SiJi
Asuransi SiJi Secure 2 Syariah, Asuransi SiJi Secure 3 Syariah, Asuransi       Secure 2 Syariah Insurance, SiJi Secure 3 Syariah Insurance, SiJi Smart
SiJi Smart Kid Syariah, Asuransi SiJi Investa Assurance, dan Asuransi          Kid Syariah Insurance, SiJi Investa Assurance Insurance, and Simas
Simas Jiwa Legacy Syariah.                                                     Jiwa Legacy Syariah Insurance.

                                                             PT Pasar Dana Pinjaman
Mengelola dan meluncurkan produk pinjaman beragunan properti                   Managed and launched a property-backed loan product and collaborated
dan bekerja sama dengan perusahaan-perusahaan berbasis                         with internet-based companies that focus on the MSME ecosystem, such
internet yang berfokus pada ekosistem UMKM, seperti perikanan,                 as fisheries, retail trade, and plantations.
perdagangan eceran, dan perkebunan.

                                                              PT Sinarmas Sekuritas
•   Brokerage Services                                                         •   Brokerage Services
•   Corporate Finance (termasuk Fixed Income Broker Service)                   •   Corporate Finance (including Fixed Income Broker Service)
•   Galeri Investasi                                                           •   Investment Gallery
•   APERD Service                                                              •   APERD Service

                                                          PT Asuransi Simas Insurtech
Mengembangkan produk asuransi siber dengan tujuan memberikan                   Developing cyber insurance products with an aim to provide
perlindungan terhadap nasabah, baik individu maupun badan hukum,               customer protection, both individuals and legal entities, against
terhadap risiko-risiko siber yang dihadapi. Hal ini merupakan salah            any cyber risks faced. This is a form of innovation conducted in
satu bentuk inovasi yang dilakukan dalam merespons perkembangan                response to technological developments where cyber-crimes are
teknologi di mana aksi kejahatan siber semakin marak terjadi. Produk           increasingly rampant. The Cyber Insurance product is expected to
Asuransi Siber ini diharapkan dapat memberikan perlindungan                    provide protection and comfort for the communities when utilizing
serta kenyamanan bagi masyarakat ketika sedang memanfaatkan                    the existing information technology.
teknologi informasi yang ada.

                                                            PT Sinar Mas Multifinance
Penyaluran pembiayaan untuk pembelian mobil baru bertenaga listrik             Financing distribution to purchase new electric and hybrid cars.
dan hybrid.




                                                                                                              Laporan Tahunan 2023
                                                                                                                 2023 Annual Report               287
Page 290
06           LAPORAN KEBERLANJUTAN
             Sustainability Report




Evaluasi Kinerja Produk                                        Product Performance Evaluation
Perseroan turut mengevaluasi kinerja produk Entitas Anak       The Company is evaluating the performance of products
Perseroan yang dimiliki setiap tahun. Berikut uraian terkait   from the Company’s Subsidiaries annually. Following is the
evaluasi kinerja produk di tahun 2023.                         information regarding the product performance evaluation
                                                               in 2023.


                      Jumlah Evaluasi       Jumlah Produk yang
  Entitas Anak            Produk                  Ditarik                        Alasan Penarikan Produk
   Subsidiary        Number of Product      Number of Products                   Product Recalled Reason
                        Evaluations              Recalled
                                                                  Adanya penyesuaian produk terhadap Surat Edaran Otoritas
                                                                  Jasa Keuangan Republik Indonesia No. 5/SEOJK.05/2022 tentang
 PT Asuransi Simas                                                Produk Asuransi yang Dikaitkan dengan Investasi
                              28                       5
 Jiwa                                                             Some product adjustments made to Financial Services
                                                                  Authority Circular Letter No. 5/SEOJK.05/2022 on Investment-
                                                                  Linked Insurance products.
 PT Asuransi Simas
 Insurtech
                              13                       -          -


Pembayaran Klaim Asuransi Nasabah                              Payment of Customer Insurance Claim
Entitas Anak Perseroan senantiasa berupaya untuk               Company Subsidiaries always strive to fulfill the customer
memenuhi pembayaran klaim asuransi nasabah sesuai              insurance claim payment in accordance with the established
kesepakatan yang telah ditentukan.                             agreements.


PT Asuransi Sinar Mas                                          PT Asuransi Sinar Mas




  26 JANUARI / January 2023                                      8 FEBRUARI / February 2023

       Pembayaran klaim kepada Mukhlis atas asuransi                  Pembayaran klaim asuransi Property All Risks kepada
       kendaraan dengan total nilai pembayaran sebesar                PT Octa Utama atas gudang yang mengalami kebakaran,
       Rp225.500.000,-.                                               dengan total nilai pembayaran sebesar Rp20.628.077.044,-.
       Payment of car insurance claim to Mukhlis with total           Payment of Property All Risks insurance claim to PT Octa
       payment of Rp225,500,000.                                      Utama for warehouse that caught fire, with total payment
                                                                      of Rp20,628,077,044.




                                                                 14 FEBRUARI / February 2023

                                                                      Pembayaran klaim asuransi alat berat kepada PT Musi
                                                                      Hutan Persada sebesar Rp2.544.166.526,-. Pembayaran
                                                                      tersebut merupakan final payment. Adapun interim payment
                                                                      telah dibayarkan pada tanggal 28 Desember 2022.
                                                                      Payment of heavy equipment insurance claim to PT Musi
                                                                      Hutan Persada amounting to Rp2,544,166,526. This is
                                                                      the final payment. An interim payment was made on 28
                                                                      December 2022.




             Laporan Tahunan 2023
  288        2023 Annual Report
Page 291
                                                                         PT SINAR MAS MULTIARTHA TBK




1 MARET / March 2023                                           7 MARET / March 2023

  Pembayaran klaim total loss asuransi kendaraan kepada           Pembayaran klaim Contractor All Risks kepada PT Hutama
  Mursino atas kerusakan total kendaraan mobil dengan             Karya Building atas kerugian akibat bencana tanah
  total nilai pembayaran sebesar Rp313.850.000,-.                 longsor di Kebumen, Jawa Tengah, dengan total nilai
  Payment of total loss vehicle insurance claim to Mursino        pembayaran sebesar Rp15.775.636.667,-.
  for total damage to the car with total payment of               Payment of Contractor All Risks claim to PT Hutama
  Rp313,850,000.                                                  Karya Building for landslides losses in Kebumen, Central
                                                                  Java, with total payment of Rp15,775,636,667.




28 MARET / March 2023                                          30 MARET / March 2023

  Pembayaran klaim kepada pemenang Hole in One berupa             Pembayaran klaim Property All Risks kepada PT Jalur
  uang tunai sebesar Rp50.000.000,- atas keberhasilan             Nugraha Ekakurir (JNE) atas kebakaran gudang perusahaan
  pada hole 16 par 3 di Labersa Golf, Riau.                       ekspedisi JNE dengan total nilai pembayaran sebesar
  Payment of claim to Hole in One winner in the form of cash      Rp38.000.000.000,-.
  amounting to Rp50,000,000 for success on hole 16 par 3 at       Payment of Property All Risks claim to PT Lintas Nugraha
  Labersa Golf, Riau.                                             Ekakurir (JNE) for warehouse fire of JNE expedition
                                                                  company with total payment of Rp38,000,000,000.




                                                               8 MEI / Mei 2023

                                                                  Pembayaran klaim asuransi kebakaran kepada
                                                                  PT Tunas Mitra dengan total nilai pembayaran sebesar
                                                                  Rp24.056.323.514,-.
                                                                  Payment of fire insurance claim to PT Tunas Mitra with
                                                                  total payment of Rp24,056,323,514.




                                                                                   Laporan Tahunan 2023
                                                                                      2023 Annual Report        289
Page 292
06       LAPORAN KEBERLANJUTAN
         Sustainability Report




15 JUNI / June 2023                                          17 JUNI / June 2023

   Pembayaran klaim kepada pemenang Hole in One berupa          Pembayaran klaim kepada pemenang Hole in One berupa
   1 Unit Mercedes Benz C200 senilai Rp895.500.000,- atas       uang tunai senilai Rp90.000.000,- atas keberhasilan pada
   keberhasilan pada hole 16 par 3 di Rancamaya Golf Club,      hole 16 par 3 di Gunung Geulis Country Club.
   Bogor, Jawa Barat.                                           Payment of claim to Hole in One winner in the form
   Payment of claim to Hole in One winner in the form           of cash amounting to Rp90,000,000 for success on
   of 1 Mercedes Benz C200 unit worth Rp995,000,000             hole 16 par 3 at Gunung Geulis Country Club.
   for success on hole 16 par 3 at Rancamaya Golf Club,
   Bogor, West Java.




21 JULI / July 2023                                          7 SEPTEMBER / September 2023

   Pembayaran klaim kepada pemenang Hole in One berupa          Pembayaran klaim kepada pemenang Hole in One dengan
   uang tunai senilai Rp90.000.000,- atas keberhasilan          total senilai Rp1.101.330.000,-. Pada tanggal 6 September
   mendapatkan hole in one di Imperial Karawaci Club Golf       2023, klaim Hole in One diberikan untuk event Indonesia
   pada tanggal 21 Juli 2023.                                   Energi & Engineering Series Charity Golf Tournament
   Payment of claim to Hole in One winner in the form           berupa mobil Toyota All New Yaris Cross HEV senilai
   of cash amounting to Rp90,000,000 for the success in         Rp396.540.000,- dan pada tanggal 7 September 2023,
   scoring a hole in one at Imperial Karawaci Club Golf on      klaim Hole in One diberikan pada event PT PP 70th
   21 July 2023.                                                Anniversary Golf Tournament berupa mobil Hyundai
                                                                IONIQ 5 Long Range Signature senilaiRp704.790.000,-.
                                                                Payment of claim to Hole in One winner totaling
                                                                Rp1,101,330,000. On 6 September 2023, a Hole in One
                                                                claim was awarded for Indonesia Energy & Engineering
                                                                Series Charity Golf Tournament in the form of one Toyota
                                                                All New Yaris Cross HEV car worth Rp396,540,000 and on
                                                                7 September 2023, a Hole in One claim was awarded at
                                                                PT PP 70th Anniversary Golf Tournament in the form of
                                                                one Hyundai IONIQ 5 Long Range Signature car worth
                                                                Rp704,790,000.




         Laporan Tahunan 2023
290      2023 Annual Report
Page 293
                                                                       PT SINAR MAS MULTIARTHA TBK




25 SEPTEMBER / September 2023                                 18 OKTOBER / October 2023

  Pembayaran klaim kepada pemenang Hole in One berupa           Pembayaran klaim kepada pemenang Hole in One berupa
  mobil Mitsubishi Pajero Sport senilai Rp405.000.000,-         mobil Hyundai Stargazer senilai Rp253.800.000,- pada
  pada event Open Tournament Senior Jawa Barat                  event 9th Anniversary PT Krakatau Wajatama Osaka Steel
  Seri 3 2023.                                                  Marketing Golf Tournamen di Permata Sentul Golf Club,
  Payment of claim to Hole in One winner in the form            Bogor, Jawa Barat.
  of one Mitsubishi Pajero Sport car worth Rp405,000,000        Payment of claim to Hole in One winner in the form
  at the 2023 West Java Senior Open Tournament Series 3.        of one Hyundai Stargazer car worth Rp253,800,000 at
                                                                9th Anniversary PT Krakatau Wajatama Osaka Steel
                                                                Marketing Golf Tournament at Permata Sentul Golf Club,
                                                                Bogor, West Java.




7 NOVEMBER / November 2023                                    20 NOVEMBER / November 2023

  Pembayaran klaim kepada pemenang Hole in One                  Pembayaran klaim kepada pemenang Hole in One berupa
  berupa mobil Toyota Rush senilai Rp252.180.000,- pada         mobil Toyota Innova Zenix G senilai Rp340.200.000,-
  event Persada 92 Golf Tournament di Riverside Golf Club,      pada event Katsgama Golf Invitational 2023 di Damai
  Bogor, Jawa Barat.                                            Indah Golf, Pantai Indah Kapuk, Jakarta Utara.
  Payment of claim to Hole in One winner in the form of         Payment of claim to Hole in One winner in the form of
  one Toyota Rush car worth Rp252,180,000 at Persada 92         one Toyota Innova Zenix G car worth Rp340,200,000
  Golf Tournament at Riverside Golf Club, Bogor, West Java.     at 2023 Katsgama Golf Invitational at Damai
                                                                Indah Golf, Pantai Indah Kapuk, North Jakarta.




                                                                                Laporan Tahunan 2023
                                                                                   2023 Annual Report         291
Page 294
06             LAPORAN KEBERLANJUTAN
               Sustainability Report




  28 NOVEMBER / November 2023                                              6 DESEMBER / December 2023

         Pembayaran klaim kepada pemenang Hole in One berupa                   Pembayaran klaim kepada pemenang Hole in One berupa
         logam mulia 100 gram senilai Rp93.141.000,- pada event                mobil Toyota Fortuner senilai Rp504.180.000,- pada
         KGP Golf Tournament di Damai Indah Golf Serpong.                      event Tournament Golf Yayasan Beasiswa Corps Alumni
         Payment of claim to Hole in One winner in the form of                 AIP/PLAP/STIP ke-27 di Permata Sentul Golf Club, Bogor,
         100 grams of gold worth Rp93,131,000 at KGP Golf                      Jawa Barat.
         Tournament at Damai Indah Golf Serpong.                               Payment of claim to Hole in One winner in the form of
                                                                               one Toyota Fortuner car worth Rp504,180,000 at 27th
                                                                               AIP/PLAP/STIP Alumni Corps Scholarship Foundation
                                                                               Golf Tournament at Permata Sentul Golf Club, Bogor,
                                                                               West Java.



Menjalin Hubungan yang Baik dengan                                       Maintaining Good Relationships with
Mitra Usaha                                                              Business Partners

Aktivitas bisnis Perseroan dan Entitas Anak dapat berjalan               The business activities of the Company and its Subsidiaries
dengan baik berkat dukungan mitra usaha, termasuk                        run well with the support of business partners, including
pemasok. Oleh karena itu, Perseroan dan Entitas Anak                     suppliers. Therefore, the Company and its Subsidiaries
senantiasa menjalin hubungan baik dengan mitra usaha,                    always maintain a good relationship with business
sebagaimana diatur dalam Kode Etik dan Pedoman                           partners, as stipulated in the Company’s Code of Ethics
Tingkah Laku Perseroan. Perseroan dan Entitas Anak juga                  and Code of Conduct. The Company and its Subsidiaries
memberikan kesempatan bagi pengusaha lokal untuk                         also provide opportunities for the local entrepreneur
berkontribusi sebagai pemasok barang dan jasa sebagai                    to contribute as the supplier of goods and services to
bentuk dukungan terhadap kesejahteraan ekonomi entitas                   support the welfare of the business entity’s economy
usaha di tempat perusahaan berkedudukan.                                 in the area where the company is located.


PT Sinar Mas Multifinance                                                PT Sinar Mas Multifinance

                                  2023                            2022                           2021
                                      Proporsi                        Proporsi                       Proporsi
                                      terhadap                        terhadap                       terhadap
                                       Jumlah                          Jumlah                         Jumlah
 Kelompok Mitra         Jumlah                       Jumlah                            Jumlah                         Business
                                       Kontrak                         Kontrak                        Kontrak
     Usaha              Entitas                      Entitas                           Entitas                      Partner Group
                                     Proportion                      Proportion                     Proportion
                       Number of                    Number of                         Number of
                                          to                              to                             to
                        Entities                     Entities                          Entities
                                      Contract                        Contract                       Contract
                                       Amount                          Amount                         Amount
                                         (%)                             (%)                            (%)

 Pemasok Lokal            4.029           58,24         5,271              62.61         3,175           44.80     Local Supplier
 Pemasok Nasional         1.635           41,76         2,046              37.39         3,850           55.20     National Supplier
 Total                    5.664          100,00        7,317              100.00         7,025          100.00     Total




               Laporan Tahunan 2023
  292          2023 Annual Report
Page 295
                                                                     PT SINAR MAS MULTIARTHA TBK




PT Sinarmas Sekuritas                                      PT Sinarmas Sekuritas

                           2023                     2022                     2021
                                Proporsi                 Proporsi                 Proporsi
                                terhadap                 terhadap                 terhadap
                                 Jumlah                   Jumlah                   Jumlah
Kelompok Mitra      Jumlah                   Jumlah                   Jumlah                     Business
                                 Kontrak                  Kontrak                  Kontrak
    Usaha           Entitas                  Entitas                  Entitas                  Partner Group
                               Proportion               Proportion               Proportion
                   Number of                Number of                Number of
                                    to                       to                       to
                    Entities                 Entities                 Entities
                                Contract                 Contract                 Contract
                                 Amount                   Amount                   Amount
                                   (%)                      (%)                      (%)

Pemasok Lokal          -            -          36            97.30      19           52.00    Local Supplier
Pemasok Nasional       -            -           -                -       7           48.00    National Supplier
Pemasok                                                                                       International
                       -            -           1             2.70       -               -
Internasional                                                                                 Supplier
Total                  -            -          37           100.00      26          100.00    Total




PT Pasar Dana Pinjaman                                     PT Pasar Dana Pinjaman

                           2023                     2022                     2021
                                Proporsi                 Proporsi                 Proporsi
                                terhadap                 terhadap                 terhadap
                                 Jumlah                   Jumlah                   Jumlah
Kelompok Mitra      Jumlah                   Jumlah                   Jumlah                     Business
                                 Kontrak                  Kontrak                  Kontrak
    Usaha           Entitas                  Entitas                  Entitas                  Partner Group
                               Proportion               Proportion               Proportion
                   Number of                Number of                Number of
                                    to                       to                       to
                    Entities                 Entities                 Entities
                                Contract                 Contract                 Contract
                                 Amount                   Amount                   Amount
                                   (%)                      (%)                      (%)

Pemasok Lokal          6           37.50       72           100.00      25          100.00    Local Supplier
Pemasok Nasional      10           62.50        -                -       -               -    National Supplier
Total                 16          100.00       72           100.00      25          100.00    Total




PT Asuransi Simas Insurtech                                PT Asuransi Simas Insurtech

                           2023                     2022                     2021
                                Proporsi                 Proporsi                 Proporsi
                                terhadap                 terhadap                 terhadap
                                 Jumlah                   Jumlah                   Jumlah
Kelompok Mitra      Jumlah                   Jumlah                   Jumlah                     Business
                                 Kontrak                  Kontrak                  Kontrak
    Usaha           Entitas                  Entitas                  Entitas                  Partner Group
                               Proportion               Proportion               Proportion
                   Number of                Number of                Number of
                                    to                       to                       to
                    Entities                 Entities                 Entities
                                Contract                 Contract                 Contract
                                 Amount                   Amount                   Amount
                                   (%)                      (%)                      (%)

Pemasok Lokal          -                -       -                -       -               -    Local Supplier
Pemasok Nasional      67          100.00       68           100.00      76          100.00    National Supplier
Pemasok                                                                                       International
                       -                -       -                -       -               -
Internasional                                                                                 Supplier
Total                 67          100.00       68           100.00      76          100.00    Total




                                                                             Laporan Tahunan 2023
                                                                                2023 Annual Report       293
Page 296
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




Aspek Lingkungan
Environmental Aspect

Membangun Budaya Keberlanjutan                                Building a Culture of Environmental
Lingkungan Hidup                                              Sustainability

Kegiatan bisnis di lingkungan Perseroan dan Entitas Anak      All business activities within the Company and its
dijalankan sesuai dengan hukum yang berlaku, seperti          Subsidiaries are always carried out in accordance with
Undang-Undang No. 32 Tahun 2009 tentang Perlindungan          applicable laws, such as Law No. 32 of 2009 concerning
dan Pengelolaan Lingkungan Hidup serta Peraturan Otoritas     Environmental Protection and Management, as well as
Jasa Keuangan No. 51 Tahun 2017 tentang Penerapan             Financial Services Authority Regulation No. 51 of 2017
Keuangan Berkelanjutan bagi Lembaga Jasa Keuangan,            concerning the Implementation of Sustainable Finance
Emiten, dan Perusahaan Publik. Selain itu, Perseroan          for Financial Service Institutions, Issuers, and Public
dan Entitas Anak secara konsisten mendorong budaya            Companies. In addition, the Company and its Subsidiaries
ramah lingkungan dan mengambil berbagai langkah untuk         always foster an environmentally friendly culture and make
meningkatkan kesadaran karyawan terhadap penggunaan           various efforts to increase employee awareness of using
energi, air, dan kertas.                                      energy, water, and paper.



Pembiayaan Hijau                                              Green Financing

Entitas Anak Perseroan yang berfokus pada pembiayaan dan      The Company’s subsidiaries engaging in the financing and
perbankan memiliki kebijakan khusus terkait persyaratan       banking sectors have specific policies on credit requirements
kredit yang berkaitan dengan lingkungan. Persyaratan ini      related to the environment. This requirement is mandatory
diwajibkan selama proses analisis kredit. Evaluasi terhadap   during the credit analysis process. Environmental impact
dampak lingkungan turut dilakukan terutama pada debitur       analysis is carried out, especially on debtors whose
yang bisnisnya memiliki dampak yang cukup besar terhadap      lines of business significantly impact the environment.
lingkungan. Di samping itu, Entitas Anak Perseroan juga       In addition, the Company’s Subsidiaries also channel
memberikan pembiayaan atau kredit kepada Kategori             financing or provide credit to the Sustainable Business
Kegiatan Usaha Berkelanjutan (KKUB) yang mencakup sektor      Activities Category (KKUB), which includes the productive
ekonomi produktif di semua kegiatan UMKM dan kegiatan         economic sector in all MSME activities and other business
bisnis lain yang memperhatikan lingkungan.                    activities that care for the environment.


                                                                                           (dalam jutaan Rupiah / in million Rupiah)

     Nama Entitas Anak
                                           2023                         2022                               2021
        Subsidiary

 PT Bank Sinarmas Tbk                     2,390,568                   2,447,756                          2,388,916
 PT Sinar Mas Multifinance                3,376,106                   3,798,424                          3,863,548
 Total                                    5,766,674                   6,246,180                          6,252,464




              Laporan Tahunan 2023
  294         2023 Annual Report
Page 297
                                                                                      PT SINAR MAS MULTIARTHA TBK




Penggunaan Material Ramah Lingkungan                                 Use of Environmentally Friendly Materials

Perseroan beserta Entitas Anak turut serta melestarikan              The Company and its Subsidiaries participate in preserving
lingkungan melalui penggunaan material ramah lingkungan              the environment through the use of environmentally
dalam menjalankan kegiatan usaha. Uraian lebih lanjut                friendly materials in carrying out business activities. Further
dijelaskan pada tabel berikut.                                       description is explained in the following table.


                                                 Material Ramah Lingkungan
            Aktivitas Operasi                         yang Digunakan                                     Manfaat
          Operational Activities                  Environmentally Friendly                               Benefit
                                                       Materials Used

 PT Asuransi Sinar Mas
 Penggunaan lampu penerangan                                Lampu LED                         Mengurangi pemakaian listrik
 Use of lighting                                            LED Lights                       Reducing electricity consumption
                                                                                           Meredam panas secara baik dan tidak
                                                                                            mengandung bahan beracun yang
 Penggunaan bahan atap
                                                  Unplasticized poly vinyl chloride          berbahaya bagi tubuh manusia
 Use of roofing materials
                                                                                           Good heat insulation and free of toxic
                                                                                             materialharmful to human body
 Penggunaan bahan partisi ruangan                                                              Mengurangi kebisingan suara
                                                        Gypsum soundstop
 The use of room partition materials                                                                Reducing noise
 Penggunaan refrigerant air conditioner                                                         Tidak merusak lapisan ozon
                                                        Refrigerant type R32
 Use of refrigerant air conditioner                                                            Not damaging the ozone layer
 PT Asuransi Simas Jiwa
 Pengurangan pemakaian tisu toilet dengan                                                     Mengurangi sampah non-organik
 menggunakan hand dryer                                                                              yang sulit terurai
                                                        Hand dryer ecocare
 Reducing the use of toilet paper by using                                                   Reducing non-organic waste that is
 a hand dryer                                                                                     difficult to decompose
 Penggunaan bohlam lampu light emitting                                                   Hemat energi dan lebih tahan lama/awet
 diode (LED) di pantry, toilet, koridor, dan      Lampu LED Phillips & Downlight            (penggunaan jam per hari bisa sampai
 kantor tower                                      Philips LED Lights & Downlight                         1 tahun)
 Use of light emitting diode (LED) light bulbs                                             Energy saving and long lasting (hours of
 in pantry, toilet, corridor, and office tower                                                 use per day can be up to 1 year)
 PT Sinar Mas Multifinance
 Formulir pengajuan kredit                       Penggunaan Mobile Apps Simasku              Penghematan penggunaan kertas
 Credit application form                            Simasku Mobile Apps Usage                      Paper usage savings
 Print dokumen                                             Kertas bekas                     Mengurangi pembelian kertas baru
 Document printing                                        Recycled paper                    Reducing the purchase of new paper
 Penerangan kantor pusat dan cabang                         Lampu LED                         Mengurangi pemakaian listrik
 Lighting of head and branch offices                        LED Lights                       Reducing electricity consumption
 Meeting via online                                                                            Mengurangi perjalanan dinas
                                                      Laptop (Zoom Meeting)
 Online meeting                                                                                  Reducing business trips
 PT Pasar Dana Pinjaman
 Penggunaan alat minum                                   Tumbler pribadi                        Mengurangi sampah plastik
 Use of drinking utensils                                Private tumbler                          Reducing plastic waste
 PT Asuransi Simas Insurtech
 Print dokumen-dokumen untuk proses
 review atau draft                                         Kertas bekas                     Mengurangi penggunaan kertas baru
 Documents printing for review process                    Recycled paper                      Reducing the use of new paper
 or draft
 Menggunakan dispenser air mineral                   Galon dan botol minum                    Mengurangi penggunaan plastik
 Using mineral water dispenser                        Gallons and tumblers                      Reducing the use of plastic




                                                                                             Laporan Tahunan 2023
                                                                                                2023 Annual Report         295
Page 298
06            LAPORAN KEBERLANJUTAN
              Sustainability Report




Efisiensi Energi                                                      Energy Efficiency

Operasi Perseroan menggunakan energi dari 2 sumber, yaitu             The Company’s operational activities use energy from
listrik dan bahan bakar minyak (BBM). Energi listrik diperoleh        two sources, namely electricity and fuel oil (BBM). The
dari Perusahaan Listrik Negara (PLN) untuk menggerakkan               State Electricity Company (PLN) provides electricity to
peralatan kantor, pendingin ruangan, pencahayaan, dan                 power office equipment, air conditioning, lighting, and
lift, sedangkan BBM diperoleh dari Stasiun Pengisian Bahan            elevators. Meanwhile, the fuel oil is sourced from the
Bakar Umum (SPBU) terdekat untuk mengisi bahan bakar                  nearest Public Fuel Filling Station (SPBU) and used to fuel
kendaraan operasional dan genset.                                     operational vehicles and generators.


Dengan mempertimbangkan keterbatasan energi yang                      By considering the limited availability of energy, the Company
tersedia, Perseroan bersikap komitmen untuk mengadopsi                is committed to adopt energy-saving efforts by:
langkah-langkah penghematan energi, yaitu:
1. Penghentian penggunaan lampu penerangan di seluruh                 1. Stop the use of lighting throughout the Company’s
    jaringan usaha Perseroan pukul 12.00-13.00 waktu lokal;              business network at 12.00-13.00 local time;
2. Energi pendingin ruangan menggunakan air conditioner               2. Air conditioners (AC) using hydrocarbon freon, which are
    (AC) jenis freon hidrokarbon, yang lebih hemat listrik dan           more energy efficient and environmentally friendly are
    ramah lingkungan; serta                                              used to cool the rooms; and
3. Memanfaatkan layanan teleconference agar dapat                     3. Utilize teleconference service to maintain the supervision
    melakukan pengawasan dan koordinasi terhadap kegiatan                and coordination of operational activities without having
    operasional tanpa harus bertatap muka langsung.                      to meet face to face.


Di sisi lain, langkah-langkah penghematan energi yang                 In addition, the Subsidiaries are conducting the following
dilaksanakan oleh Entitas Anak diuraikan sebagai berikut.             energy-saving efforts.


                                                      PT Bank Sinarmas Tbk

 Penghematan listrik di Kantor Pusat Non-Operasional Roxy Square     Energy savings at the Roxy Square Non-Operational Head
 dengan pembatasan pemakaian listrik operasional yang ditentukan     Office with restrictions on operational electricity usage, which
 sesuai rutinitas kerja jam 07.00 hingga 18.00. Bank Sinarmas juga   are determined according to the work routine from 07.00 to
 melakukan sosialisasi penghematan listrik dengan mematikan lampu    18.00. Bank Sinarmas also disseminates electricity savings by
 pada saat jam istirahat, serta menggunakan lampu LED.               turning off lights during recess time and using LED lights.

                                                      PT Asuransi Sinar Mas

 • Penggantian tubular lamp (TL) dengan teknologi LED yang           • Replacement of tubular lamp (TL) with LED technology that
   menyerap energi lebih sedikit, namun memberikan pencahayaan         consumes less energy but provides brighter lighting;
   yang lebih terang;
 • Jadwal pengaturan lampu penerangan dan peralatan listrik untuk    • The schedule for regulating lighting and electrical equipment for
   operasional gedung dijalankan secara ketat dan tepat dengan         building operations is carried out strictly and precisely by taking
   memperhatikan kenyamanan dan keamanan karyawan serta                into account the comfort and safety of employees and maximizing
   memaksimalkan pemakaian listrik;                                    electricity consumption;
 • Penyesuaian jumlah unit AC yang dihidupkan dengan banyaknya       • Adjustment of the number of AC units that are turned on with the
   karyawan di suatu ruangan; dan                                      number of employees in a room; and
 • Penggunaan solar panel (PLTS).                                    • The use of solar panels (PLTS).

                                                     PT Asuransi Simas Jiwa

 Memadamkan lampu saat jam istirahat dan mematikan beberapa AC       Turning off lights during recess time and turning off several ACs in
 pada ruang kerja. Khusus karyawan tertentu, AC akan dinonaktifkan   workspace. Some specific employees will have their AC turned off
 apabila tidak digunakan.                                            when not in use.




              Laporan Tahunan 2023
  296         2023 Annual Report
Page 299
                                                                                                             PT SINAR MAS MULTIARTHA TBK




Biaya penggunaan sumber energi yang dikeluarkan Perseroan                                 The energy cost spent by Company and its Subsidiaries is
dan Entitas Anak secara konsolidasian diungkapkan sebagai                                 described as follows.
berikut.


                                                                                                                                (dalam jutaan Rupiah / in million Rupiah)

               Uraian                            2023                              2022                            2021                            Description

     Biaya Listrik                               32,723                            62,462                          61,279                Cost of Electricity
     Biaya Penggunaan BBM                         2,967                            22,620                          26,410                Cost of Fuel Oil


Bank Sinarmas telah memulai pemanfaatan energi                                            Bank Sinarmas, has started using renewable energy to save
terbarukan untuk mengurangi penggunaan listrik dengan                                     electricity by installing solar panels at the Diponegoro and
memasang panel surya di Kantor Cabang Diponegoro dan                                      Klampis Branch Offices in Surabaya.
Klampis Surabaya.


JUMLAH PEMAKAIAN LISTRIK DI KANTOR CABANG KLAMPIS DAN DIPONEGORO BANK SINARMAS
Total Electricity Usage at the Klampis and Diponegoro Branch Offices of Bank Sinarmas

        Kantor                                                 2023                                       2022                                     2021
        Cabang              Satuan
        Branch               Unit                                 Panel Surya                                Panel Surya                              Panel Surya
                                                  PLN                                       PLN                                       PLN
         Office                                                   Solar Panel                                Solar Panel                              Solar Panel

     Klampis            kWh                        8351               11,303                31,966               10,732              35,739               10,970
     Diponegoro         kWh                      246,85               14,463              234,347                29,238             216,908                 4,292




JUMLAH PEMAKAIAN LISTRIK DAN PENGGUNAAN BBM PADA ENTITAS ANAK
Total Electricity and Oil Fuel Usage in Subsidiaries

                                                               2023                                       2022                                     2021

               Perusahaan                                         Penggunaan                                 Penggunaan                               Penggunaan
                                                Listrik                                   Listrik                                   Listrik
                Company                                               BBM                                        BBM                                      BBM
                                              Electricity                               Electricity                               Electricity
                                                                    Fuel Oil                                   Fuel Oil                                 Fuel Oil
                                                (kWh)                                     (kWh)                                     (kWh)
                                                                     (Liter)                                    (Liter)                                  (Liter)

     PT Asuransi Sinar Mas                     1,219,005               80,786             1,253,943              101,982            1,194,675               93,983
     PT Sinar Mas Multifinance                3,727,724   1)
                                                                      31,731 2)
                                                                                        4,193,074    1)
                                                                                                                 31,642 2)
                                                                                                                                  4,122,126   1)
                                                                                                                                                          24,9822)
     PT Pasar Dana Pinjaman                   80,050,285                       -        90,368,000                        -       75,059,739                        -
     PT Sinarmas Ventura                            2,793               3,574                 3,089                3,421                 3,375               3,656
1)
     Asumsi daya listrik yang digunakan masuk kategori R-2/3.500-5.500 VA, tarif per Oktober 2023: 1.699,53. / Assuming the electricity used is in the R-2/3,500-5,500 VA
     category, tariff as of October 2022: 1.699,53.
2)
     Asumsi BBM yang digunakan adalah Pertalite dengan harga 10.000/liter. / Assuming the Fuel Oil used is Pertalite of Rp10,000/liter.




Efisiensi Air                                                                             Water Efficiency

Perseroan memanfaatkan air dari PDAM untuk memenuhi                                       The company uses water from the Regional Drinking Water
keperluan karyawan. Meskipun pasokan air dari PDAM tidak                                  Company (PDAM) to meet employee needs. Although the
tak terbatas, Perseroan selalu mengajak seluruh karyawan                                  water supply from PDAM is unlimited, the Company always
untuk menggunakan air secara efisien dengan memasang                                      encourages all employees to use it efficiently by placing
stiker, poster, dan spanduk di lokasi-lokasi penting.                                     stickers, posters, and banners in strategic places.




                                                                                                                          Laporan Tahunan 2023
                                                                                                                             2023 Annual Report                297
Page 300
06             LAPORAN KEBERLANJUTAN
               Sustainability Report




Sementara itu, upaya efisiensi penggunaan air yang              Meanwhile, the water use efficiency efforts carried out by the
dilakukan Entitas Anak, PT Asuransi Sinar Mas, diungkapkan      Subsidiary, PT Asuransi Sinar Mas, are described as follows.
sebagai berikut.
1. Mengganti kran wastafel dari tipe putar menjadi tipe         1. Changing the sink faucet from rotary type to push type
    push untuk menghindari pemborosan penggunaan air               to avoid wasting water use if someone forgets to close
    jika terjadi kelalaian lupa menutup kran setelah selesai       the faucet after washing the hands.
    mencuci tangan.
2. Mengurangi tekanan air yang keluar dari setiap kran          2. Reducing the water pressure coming out of each faucet by
    dengan mengatur valve instalasi distribusi tiap lantai.        adjusting the distribution valve installation for each floor.
3. Memanfaatkan kembali hasil pengolahan air limbah             3. Reusing water from the wastewater treatment (STP) to
    (STP) untuk flushing closet dan siram tanaman.                 flush closets and water plants.


Berikut merupakan rincian biaya penggunaan air yang             Following are the detailed cost of water use spent by the
dikeluarkan oleh Perseroan dan Entitas Anak.                    Company and its Subsidiaries.


                                                                                              (dalam jutaan Rupiah / in million Rupiah)

                  Uraian
                                                      2023                       2022                            2021
                Description

 PT Bank Sinarmas                                         40                       26                               21
 PT Asuransi Simas Jiwa                                   26                       29                               91
 Konsolidasi                                          63,414                     6,119                           3,488


Berikut adalah tabel terkait penggunaan air pada Entitas        Following is a table describing the use of water in the
Anak Perseroan.                                                 Company’s subsidiaries.


          Uraian                Satuan
                                                      2023                       2022                            2021
        Description              Unit

 PT Bank Sinarmas                 m3                    2,771                            -                               -
 PT Asuransi Sinar Mas            m   3
                                                       15,607                     12,667                          10,874
 PT Pasar Dana Pinjaman           m3                5,869,800                  4,550,000                       4,104,532




Pengelolaan Limbah                                              Waste Management

Limbah yang dihasilkan dari aktivitas operasional Perseroan     The waste generated from Company’s operational activities
sebagian besar berupa penggunaan alat tulis kantor,             mostly come from the use of office stationery, especially
khususnya kertas. Maka dari itu, Perseroan berupaya untuk       paper. Therefore, the Company strives to diverting it to the
mengalihkannya ke penggunaan internet, seperti e-statement      internet use, such as e-statement and internet/electronical
dan internet/electronical application. Penghematan kertas       applications. Paper saving is also done by reusing the empty
juga dilakukan dengan memanfaatkan kembali sisi kertas          side of the paper.
yang kosong.




               Laporan Tahunan 2023
  298          2023 Annual Report
Page 301
                                                                                               PT SINAR MAS MULTIARTHA TBK




Pada sisi lain, langkah-langkah pengelolaan limbah yang                       Meanwhile, the waste management efforts carried out by
dilaksanakan oleh Entitas Anak dijelaskan sebagai berikut.                    the Subsidiaries are described as follows.


                                                             PT Bank Sinarmas Tbk

     Kegiatan operasional perbankan berhubungan dengan dokumen,              Banking operations are related to documents, making paper the
     sehingga menghasilkan limbah terbanyak berupa kertas.                   most waste generated. Nevertheless, paperless implementation
     Meskipun demikian, penerapan paperless dalam operasional                and the use of recycled paper in daily operations continue to be
     sehari-hari, penggunaan kertas bekas terus disosialisasikan             socialized, especially to all KPNO Roxy Square work units.
     terutama kepada seluruh unit kerja KPNO Roxy Square.

                                                             PT Asuransi Sinar Mas

     • Memanfaatkan kertas bekas untuk pengarsipan dan dokumentasi;          • Utilizing recycled paper for filing and documentation; as well a
       serta                                                                 s
     • Memanfaatkan bahan-bahan limbah organik dari jus bar dan kantin       • Utilizing organic waste materials from juice bars and canteens i.e.,
       berupa sayur, buah-buahan, kulit telur, dan lainnya untuk dijadikan      vegetables, fruits, egg shells, and others to be used as organic
       pupuk organik yang digunakan sebagai pemupukan tanaman.                  fertilizers for plant fertilization.

                                                             PT Asuransi Simas Jiwa

     Limbah kertas yang tidak dipakai dan tidak confidential, langsung       Unused and non-confidential paper waste is immediately disposed
     dibuang bersama sampang rumah tangga lainnya. Sementara untuk           with other household waste. Meanwhile, unused but confidential
     limbah kertas tidak terpakai dan bersifat confidential, dilakukan       paper waste is destroyed with a shredder.
     penghancuran dengan mesin destroyer.

                                                         PT AB Sinar Mas Multifinance

     Menerapkan pengelolaan daur ulang sampah berdasarkan jenis,             Implementing waste recycling management by type, namely organic
     yakni sampah organik dan non-organik.                                   and non-organic waste

                                                          PT Asuransi Simas Insurtech

     • Menggunakan tanda tangan digital untuk dokumen-dokumen                • Using digital signature on documents requiring signature;
       yang memerlukan tanda tangan;
     • Melakukan review dengan menyeluruh sehingga tidak mencetak            • Conducting thorough review to avoid repeat printing of documents;
       dokumen secara berulang;
     • Menggunakan kertas bekas untuk melakukan peninjauan                   • Using recycled paper for document review; and
       dokumen; serta
     • Mengoptimalkan penggunaan dokumen softcopy.                           • Optimizing the use of softcopy document.



Limbah kertas merupakan jenis limbah yang paling banyak                       Paper is the most waste generated by the Company and
dihasilkan oleh Perseroan dan Entitas Anak. Beberapa Entitas                  its Subsidiaries. Several Subsidiaries have measured the
Anak telah melakukan pengukuran terhadap jumlah limbah                        total amount of paper waste as an effort to increase the
kertas sebagai salah satu langkah untuk meningkatkan                          efficiency of its use. Following are the calculation of total
efisiensi penggunaannya. Berikut perhitungan jumlah kertas                    amount of paper used in the last 3 years.
yang telah digunakan dalam kurun waktu 3 tahun terakhir.


                                                                                                                                   (dalam ton / in ton)

                Nama Entitas Anak
                                                                 2023                           20221)                          20211)
                   Subsidiary

     PT Bank Sinarmas Tbk                                         3.75                           1.71                            1.79
     PT Asuransi Sinar Mas                                        6.40                           5.90                            4.98
     PT Pasar Dana Pinjaman                                       0.18                           0.18                            0.18
     PT Asuransi Simas Insurtech                                  0.30                           0.30                            0.30
     Total                                                       10.63                           8.09                            7.25
 Perhitungan Kembali. / Recalculation.
1)

Catatan / Note: 1 rim / ream = 2.5 kg




                                                                                                         Laporan Tahunan 2023
                                                                                                            2023 Annual Report             299
Page 302
06                  LAPORAN KEBERLANJUTAN
                    Sustainability Report




Biaya Pengelolaan Lingkungan                                                            Environmental Management Expense

Biaya pengelolaan lingkungan yang dikeluarkan Perseroan                                 The environmental management expense spent by the
melalui Entitas Anak di tahun 2023 sebesar Rp1,18 miliar                                Company through its Subsidiaries in 2023 amounts to
dengan uraian sebagai berikut.                                                          Rp1.18 billion with the following description.


                                                                                                                             (dalam jutaan Rupiah / in million Rupiah)

                  Nama Entitas Anak
                                                                         2023                                2022                               2021
                     Subsidiary

     PT Bank Sinarmas Tbk                                                 303                                 297                                165
     PT Asuransi Simas Jiwa    *)
                                                                             5                                  5                                   5
     PT Asuransi Sinar Mas                                                763                                 754                                695
     PT Sinarmas Sekuritas                                                    -                                14                                  10
     PT Pasar Dana Pinjaman                                               110                                 115                                110
     Total                                                              1,181                               1,185                                985
*)
     Biaya untuk iuran sampah dan kebersihan kantor Gedung Asuransi Simas Jiwa, Jl. Lombok No. 73. / Fees for garbage and office cleaning fees of Simas Jiwa Insurance
     Building, Jl. Lombok No. 73.




Sertifikasi dan Pengaduan Masalah                                                       Environmental Certification and
Lingkungan                                                                              Complaints

Aktivitas operasional Perseroan tidak bersinggungan                                     The Company’s operational activities do not come directly
langsung terhadap lingkungan sehingga tidak memiliki                                    in contact with the environment, so it does not have any
sertifikasi di bidang lingkungan. Namun demikian, Perseroan                             environmental certification. Nevertheless, the Company
membuka layanan pengaduan masalah lingkungan melalui                                    provides a service for environmental complaints via email
email multiartha@smma.com ataupun email dan telepon                                     at multiartha@smma.com or email and phone listed on the
yang tertera di situs web masing-masing Entitas Anak.                                   websites of the Company and its Subsidiaries.


Tidak terdapat laporan pengaduan terkait masalah                                        There have been no complaint reports related to
lingkungan yang berdampak signifikan terhadap Perseroan                                 environmental issues that have had a significant impact on
dan Entitas Anak dalam 3 tahun terakhir.                                                the Company and its Subsidiaries in the last 3 years.




                    Laporan Tahunan 2023
      300           2023 Annual Report
Page 303
                                                                                PT SINAR MAS MULTIARTHA TBK




Tanggung Jawab Laporan Tahunan
Annual Report Responsibility

Surat Pernyataan Anggota Direksi dan Dewan Komisaris tentang Tanggung Jawab
atas Laporan Tahunan 2023 PT Sinar Mas Multiartha Tbk
Statement of Members of the Board of Directors and the Board of Commissioners on the Responsibility
for the 2023 Annual Report of PT Sinar Mas Multiartha Tbk

Kami, yang bertanda tangan di bawah ini, menyatakan            We, the undersigned, hereby declare that the 2023
bahwa semua informasi dalam Laporan Tahunan                    Annual Report of PT Sinar Mas Multiartha Tbk has already
PT Sinar Mas Multiartha Tbk tahun 2023 telah dimuat secara     contained a complete information and we shall be
lengkap dan bertanggung jawab penuh atas kebenaran isi         fully responsible for the correctness of the Company’s
Laporan Tahunan Perseroan.                                     Annual Report content.


Demikian pernyataan ini dibuat dengan sebenarnya.              This statement is hereby made in all truthfulness.


                                                  Jakarta, 24 April 2024



                        DIREKSI,                                                   DEWAN KOMISARIS,
                   Board of Directors,                                             Board of Commissioners,




               Burhanuddin Abdullah                                                   Fuganto Widjaja
           Direktur Utama / President Director                             Komisaris Utama / President Commissioner




                Agus Leman Gunawan                                                    Howen Widjaja
                    Direktur / Director                                           Komisaris / Commissioner




                          Felix                                                        Dani Lihardja
                    Direktur / Director                                           Komisaris / Commissioner




                         Ferita                                                     Robinson Simbolon
                    Direktur / Director                            Komisaris Independen / Independent Commissioner




                       Lili Wijata                                                     Ketut Sanjaya
                    Direktur / Director                            Komisaris Independen / Independent Commissioner




                                                                                        Laporan Tahunan 2023
                                                                                           2023 Annual Report         301
Page 304
Tanggapan terhadap Umpan
Balik Laporan Tahun Sebelumnya
Responses to Previous Year’s Report Feedback

Perseroan tidak menerima umpan balik dari pemangku              The Company did not receive any feedback from
kepentingan atas Laporan Tahunan 2023. Akan tetapi, Perseroan   stakeholders on the 2023 Annual Report. However, the
tetap mengupayakan peningkatan kualitas penyampaian             Company continues to strive to improve the quality of
Laporan Tahunan pada setiap tahun pelaporan.                    Annual Report submission in each reporting year.




             Laporan Tahunan 2023
  302        2023 Annual Report
Page 305
                                                                                       PT SINAR MAS MULTIARTHA TBK




Lembar Umpan Balik
Feedback Form

Setelah membaca Laporan Tahunan PT Sinar Mas                           After reading this Annual Report of PT Sinar Mas
Multiartha Tbk, kami mohon kesediaan para pemangku                     Multiartha Tbk, we would like to ask all stakeholders to kindly
kepentingan untuk memberikan umpan balik dengan                        provide feedback by sending this form by email, fax or post.
mengirim email atau mengirim formulir ini melalui fax/pos.


                                                                                                                          Tidak
                                                Pertanyaan                                                Setuju
                                                                                                                          Setuju
                                                 Questions                                                Agree
                                                                                                                         Disagree

 Laporan ini telah memberikan informasi yang bermanfaat mengenai kinerja ekonomi, sosial dan lingkungan
 Perseroan.
 This report has provided useful information on economic, social, and environmental performance of the
 Company.

 Data dan informasi yang diungkapkan mudah dipahami, lengkap, transparan, dan berimbang.
 Data and information disclosed are easy to understand, complete, transparent, and balanced.

 Data dan informasi yang disajikan berguna dalam pengambilan keputusan.
 Data and information presented are useful for making decision.

 Laporan ini menarik dan mudah dibaca.
 This report is interesting and easy to read.



Mohon berikan nilai mengenai aspek yang terdapat dalam                 Please rate the aspects presented in this report
laporan ini (nilai 1 = paling penting, 2 = penting, 3 = tidak          (1 = most important, 2 = important, 3 = not important,
penting, 4 = sangat tidak penting). /                                  4 = very unimportant).


       Kinerja Ekonomi                                                      Pengembangan Kompetensi Karyawan
       Economic Performance                                                 Employee Competency Development

       Produk dan Jasa                                                      Inklusi dan Literasi Keuangan
       Products and Services                                                Financial Inclusion and Literacy

       Anti-fraud                                                           Pengembangan Sosial dan Kemasyarakatan
       Anti-fraud                                                           ocial and Community Development

       Digitalisasi Produk dan Layanan                                      Energi
       Digitizing of Products and Services                                  Energy

       Kerahasiaan Data Nasabah
       Confidentiality of Customer Data


Mohon berikan komentar/saran/usulan bagi laporan ini.                  Please provide comments/suggestions/ideas for this report.




                                                                                                 Laporan Tahunan 2023
                                                                                                    2023 Annual Report      303
Page 306
Profil Anda
Your Profile

Nama
                          :
Name

Pekerjaan
                          :
Occupation

Institusi/Perusahaan
                          :
Institution/Company

Kontak (telepon, email)
                          :
Contact (phone, email)



Kategori Pemangku Kepentingan
Category if Stakeholder

       Pemerintah                     Pelanggan                    Karyawan                    Mitra Kerja
       Government                     Customer                     Employee                    Business Partners

       Media                          Masyarakat                   LSM                         Lain-Lain, ...
       Media                          Community                    NGO                         Others, ...




Saran dan tanggapan yang Anda berikan atas informasi yang      Please send your suggestion and response to information
disajikan dalam laporan ini mohon dikirimkan kepada:           presented in this report to:



                                                      Menara Tekno Lt. 7
                    Felix                             Jl. Fachruddin No. 19, Jakarta Pusat, 10250
                    Sekretaris Perusahaan
                                                            (021) 392 5660              multiartha@smma.co.id
                    Corporate Secretary                     (021) 392 5788              www.smma.co.id




               Laporan Tahunan 2023
  304          2023 Annual Report
Page 307
                                                                               PT SINAR MAS MULTIARTHA TBK




Indeks Pengungkapan
Kriteria POJK No. 51/POJK.03/2017
POJK Criteria Disclosure Index No. 51/POJK.03/2017

No. Indeks                                                        Uraian                                      Halaman
No. Index                                                       Description                                    Page

              Penjelasan Strategi Keberlanjutan
    A.1                                                                                                           6-7
              Description on Sustainability Strategy
Ikhtisar Kinerja Keberlanjutan
Highlights on the Performance of Sustainability
              Ikhtisar Kinerja Ekonomi
    B.1                                                                                                          16-19
              Economic Performance Highlights
              Ikhtisar Kinerja Lingkungan Hidup
    B.2                                                                                                           22
              Environmental Performance Highlights
              Ikhtisar Kinerja Sosial
    B.3                                                                                                           21
              Social Performance Highlights
Profil Perusahaan
Company Profile
              Visi, Misi, dan Nilai Keberlanjutan
    C.1                                                                                                          64-65
              Vision, Mission, and Sustainability Values
              Alamat Perusahaan
    C.2                                                                                                           57
              Company Address
              Skala Perusahaan                                                                                16; 67; 141;
    C.3
              Company Scale                                                                                       155
              Produk, Layanan, dan Kegiatan Usaha yang Dijalankan
    C.4                                                                                                           66
              Products, Services, and Business Activities Conducted
              Keanggotaan pada Asosiasi
    C.5                                                                                                           25
              Association Membership
              Perubahan Organisasi Bersifat Signifikan
    C.6                                                                                                           58
              Significant Organizational Change
Penjelasan Direksi
Explanation from Board of Directors
              Penjelasan Direksi
    D.1                                                                                                          34-39
              Explanation from the Board of Directors
Tata Kelola Keberlanjutan
Sustainability Governance
              Penanggung Jawab Penerapan Keuangan Berkelanjutan
    E.1                                                                                                           248
              Person in Charge for the Implementation of Sustainable Finance
              Pengembangan Kompetensi terkait Keuangan Berkelanjutan
    E.2                                                                                                           248
              Competency Development Related to Sustainable Finance
              Penilaian Risiko atas Penerapan Keuangan Berkelanjutan
    E.3                                                                                                        236-240
              Risk Assessment for the Implementation of Sustainable Finance
              Hubungan dengan Pemangku Kepentingan
    E.4                                                                                                          8-12
              Stakeholders Relations
              Permasalahan terhadap Penerapan Keuangan Berkelanjutan
    E.5                                                                                                           249
              Issues with the Implementation of Sustainable Finance
Kinerja Keberlanjutan
Sustainability Performance
              Kegiatan Membangun Budaya Keberlanjutan
    F.1                                                                                                           248
              Activities to Build a Culture of Sustainability




                                                                                      Laporan Tahunan 2023
                                                                                         2023 Annual Report      305
Page 308
No. Indeks                                                      Uraian                                                        Halaman
No. Index                                                     Description                                                      Page

Kinerja Ekonomi
Economic Performance
                Perbandingan Target dan Kinerja Produksi, Portofolio, Target Pembiayaan, atau Investasi, Pendapatan dan
                Laba Rugi
    F.2                                                                                                                         185
                Comparison of Production Targets and Performance, Portfolios, Financing Targets, or Investments, Income,
                and Profit and Loss
                Perbandingan Target dan Kinerja Portofolio, Target Pembiayaan, atau Investasi pada Instrumen Keuangan
                atau Proyek yang Sejalan dengan Keuangan Berkelanjutan
    F.3                                                                                                                         294
                Comparison of Portfolio Targets and Performance, Financing Targets, or Investments in Financial Instruments
                or Projects in Line with Sustainable Finance
Kinerja Lingkungan
Environmental Performance
Umum
General
                Biaya Lingkungan Hidup
    F.4                                                                                                                         300
                Environmental Costs
Aspek Material
Material Aspect
                Penggunaan Material yang Ramah Lingkungan
    F.5                                                                                                                         295
                Use of Environmentally Friendly Materials
Aspek Energi
Energy Aspect
                Jumlah dan Intensitas Energi yang Digunakan
    F.6                                                                                                                         297
                Amount and Intensity of Energy Used
                Upaya dan Pencapaian Efisiensi Energi dan Penggunaan Energi Terbarukan
    F.7                                                                                                                         296
                Efforts and Achievement of Energy Efficiency and Use of Renewable Energy
Aspek Air
Water Aspect
                Penggunaan Air
    F.8                                                                                                                         298
                Water Usage
Aspek Keanekaragaman Hayati
Biodiversity Aspect
                Dampak dari Wilayah Operasional yang Dekat atau Berada di Daerah Konservasi atau Memiliki Keanekaragaman
    F.9         Hayati                                                                                                          N/A
                Impact of Operational Areas that are Near or Located in Conservation Areas or Have Biodiversity
                Usaha Konservasi Keanekaragaman Hayati
   F.10                                                                                                                         N/A
                Biodiversity Conservation Effort
Aspek Emisi
Emission Aspect
                Jumlah dan Intensitas Emisi yang Dihasilkan Berdasarkan Jenisnya
   F.11                                                                                                                         N/A
                Amount and Intensity of Emissions Generated by Type
                Upaya dan Pencapaian Pengurangan Emisi yang Dilakukan
   F.12                                                                                                                         N/A
                Emission Reduction Efforts and Achievements Made
Aspek Limbah dan Efluen
Waste and Effluent Aspect
                Jumlah Limbah dan Efluen yang Dihasilkan berdasarkan Jenis
   F.13                                                                                                                         299
                Amount of Waste and Effluent Generated by Type
                Mekanisme Pengelolaan Limbah dan Efluen
   F.14                                                                                                                         299
                Waste and Effluent Management Mechanism
                Tumpahan yang Terjadi (jika ada)
   F.15                                                                                                                         N/A
                Spill Occurring (if any)
Aspek Pengaduan Terkait Lingkungan Hidup
Aspects of Complaints Related to the Environment
                Jumlah dan Materi Pengaduan Lingkungan Hidup yang Diterima dan Diselesaikan
   F.16                                                                                                                         300
                Number and Material of Environmental Complaints Received and Resolved




             Laporan Tahunan 2023
 306         2023 Annual Report
Page 309
                                                                                     PT SINAR MAS MULTIARTHA TBK




No. Indeks                                                      Uraian                                                 Halaman
No. Index                                                     Description                                               Page

Kinerja Sosial
Social Performance
             Komitmen LJK, Emiten, atau Perusahaan Publik untuk Memberikan Layanan Atas Produk dan/atau Jasa yang
             Setara Kepada Konsumen
    F.17                                                                                                                 283
             LJK, Issuer, or Public Company Commitment to Provide Equal Service for Products and/or Services to
             Consumers
Aspek Ketenagakerjaan
Employment Aspect
             Kesetaraan Kesempatan Bekerja
    F.18                                                                                                                 250
             Equal Opportunity to Work
             Tenaga Kerja Anak dan Tenaga Kerja Paksa
    F.19                                                                                                                 250
             Child Labor and Forced Labor
             Upah Minimum Regional
    F.20                                                                                                                 250
             Regional Minimum Wage
             Lingkungan Bekerja yang Layak dan Aman
    F.21                                                                                                                 251
             Decent and Safe Work Environment
             Pelatihan dan Pengembangan Kemampuan Pegawai
    F.22                                                                                                                 250
             Employee Training and Capacity Building
Aspek Masyarakat
Community Aspect
             Dampak Operasi terhadap Masyarakat Sekitar
    F.23                                                                                                                 253
             Impact of Operations on the Surrounding Communities
             Pengaduan Masyarakat
    F.24                                                                                                                 283
             Public Complaints
             Kegiatan Tanggung Jawab Sosial Lingkungan (TJSL)
    F.25                                                                                                               253-283
             Environmental Social Responsibility (TJSL) Activities
Tanggung Jawab Pengembangan Produk/Jasa Berkelanjutan
Responsibility for Sustainable Products/Services Development
             Inovasi dan Pengembangan Produk/Jasa Keuangan Berkelanjutan
    F.26                                                                                                               287-288
             Sustainable Financial Products/Services Innovation and Development
             Produk/Jasa yang Sudah Dievaluasi Keamanannya bagi Pelanggan
    F.27                                                                                                                 288
             Products/Services that have been Evaluated for Safety for Customers
             Dampak Produk/Jasa
    F.28                                                                                                                 N/A
             Products/Services Impact
             Jumlah Produk yang Ditarik Kembali
    F.29                                                                                                                 288
             Number of Products Recalled
             Survei Kepuasan Pelanggan terhadap Produk dan/atau Jasa Keuangan Berkelanjutan
    F.30                                                                                                               285-286
             Customer Satisfaction Survey on Sustainable Financial Products and/or Services
Lain-Lain
Others
             Verifikasi Tertulis dari Pihak Independen (jika ada)
    G.1                                                                                                                  13
             Independent Party Written Verification (if any)
             Surat Pernyataan Anggota Direksi Tentang Tanggung Jawab atas Laporan Keberlanjutan
    G.2                                                                                                                  301
             Statement of Members of the Board of Directors regarding the Responsibility for Sustainability Reports
             Lembar Umpan Balik
    G.3                                                                                                                  303
             Feedback Form
             Tanggapan Terhadap Umpan Balik Laporan Tahun Sebelumnya
    G.4                                                                                                                  302
             Responses to Previous Year’s Report Feedback
             Daftar Pengungkapan sesuai POJK 51/2017
    G.5                                                                                                                305-307
             List of Disclosures in Accordance with POJK 51/2017




                                                                                               Laporan Tahunan 2023
                                                                                                  2023 Annual Report     307
Page 310
Halaman ini sengaja dikosongkan.
This page is intentionally left blank.
Page 311
PT Sinar Mas Multiartha Tbk
dan Entitas Anak/and Subsidiaries
Laporan Keuangan Konsolidasian/
Consolidated Financial Statements
Untuk Tahun-tahun yang Berakhir
31 Desember 2023 dan 2022/
For the Years Ended
December 31, 2023 and 2022
Page 312
PT SINAR MAS MULTIARTHA TBK DAN ENTITAS ANAK/AND SUBSIDIARIES
DAFTAR ISI/TABLE OF CONTENTS


                                                                                              Halaman/
                                                                                                Page

Laporan Auditor Independen/Independent Auditors’ Report

Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian
    PT Sinar Mas Multiartha Tbk dan Entitas Anak untuk Tahun-tahun yang Berakhir
    31 Desember 2023 dan 2022/
The Directors’ Statement on the Responsibility for Consolidated Financial Statements of
    PT Sinar Mas Multiartha Tbk and Subsidiaries for the Years Ended December 31, 2023 and
    2022

LAPORAN KEUANGAN KONSOLIDASIAN - Untuk Tahun-tahun yang Berakhir 31 Desember
   2023 dan 2022/
CONSOLIDATED FINANCIAL STATEMENTS - For the Years Ended December 31, 2023 and
   2022

    Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position………       1-4

    Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian/Consolidated
        Statements of Profit or Loss and Other Comprehensive Income……………………………                   5-6

    Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity……      7-10

    Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows………………………              11-12

    Catatan atas Laporan Keuangan Konsolidasian/Notes to Consolidated Financial Statements…    13-190

    Informasi Tambahan/Addition Information……………………………………………………………..                           I.1-I.16
Page 313

          
Page 314

          
Page 315

          
Page 316

          
Page 317

          
Page 318

          
Page 319

          
Page 320

          
Page 321

          
Page 322

          
Page 323
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                               Consolidated Statement of Financial
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                otherwise stated)



                                                         Catatan/
                                          2023            Notes               2022

ASET                                                                                     ASSETS

Kas dan bank - bersih                     9.533.705         4                 6.623.632     Cash and cash in banks - net
Investasi jangka pendek                                     5                               Short-term investments
   Pihak berelasi                        24.097.445                          29.257.311       Related parties
   Pihak ketiga                          38.997.564                          37.596.523       Third parties
   Cadangan kerugian
     penurunan nilai                       (175.445)                           (161.619)      Allowance for impairment losses

Jumlah - bersih                          62.919.564                          66.692.215     Total - net

Piutang pembiayaan multiguna                                6                               Multipurpose financing receivables
  Pihak berelasi                                756                                 802       Related parties
  Pihak ketiga                            2.184.858                           2.669.521       Third parties
  Pendapatan yang belum diakui             (674.212)                           (805.688)      Unearned income
  Cadangan kerugian
     penurunan nilai                         (75.376)                            (81.335) Allowance for impairment losses

Jumlah - bersih                           1.436.026                           1.783.300     Total - net

Piutang sewa pembiayaan                                     7                               Finance lease receivables
  Pihak berelasi                             64.763                              83.662        Related parties
  Pihak ketiga                              145.917                             198.740        Third parties
  Nilai residu yang terjamin                 65.965                              66.729        Guaranteed residual value
  Penghasilan pembiayaan
     tangguhan                               (21.358)                            (20.065)     Unearned lease income
  Simpanan jaminan                           (65.965)                            (66.729)     Security deposits
  Cadangan kerugian
     penurunan nilai                         (14.025)                            (11.786)     Allowance for impairment losses

Jumlah - bersih                             175.297                             250.551     Total - net

Piutang pembiayaan modal kerja                                                              Working capital financing with
  skema anjak piutang                                       8                                factoring scheme receivables
  Pihak berelasi                             14.554                              61.843      Related parties
  Pihak ketiga                            2.669.235                           3.700.164      Third parties
  Cadangan kerugian
     penurunan nilai                       (170.272)                            (170.997)     Allowance for impairment losses

Jumlah - bersih                           2.513.517                           3.591.010     Total - net

                                                                                            Premiums and reinsurance
Piutang premi dan reasuransi                                9                                 receivables
  Pihak berelasi                              7.184                           1.000.143       Related parties
  Pihak ketiga                            1.867.188                           1.308.422       Third parties
  Cadangan kerugian
     penurunan nilai                         (13.323)                             (7.098)     Allowance for impairment losses

Jumlah - bersih                           1.861.049                           2.301.467     Total - net

Kredit yang diberikan                                      10                               Loans
  Pihak berelasi                             96.104                              79.150       Related parties
  Pihak ketiga                           16.680.619                          14.744.900       Third parties

Jumlah                                   16.776.723                          14.824.050     Total
  Cadangan kerugian
    penurunan nilai                       (1.690.430)                         (2.125.418) Allowance for impairment losses

Jumlah - bersih                          15.086.293                          12.698.632     Total - net




Lihat Catatan atas laporan keuangan konsolidasian yang              See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                statements which are an integral part of the consolidated
keuangan konsolidasian.                                             financial statements.

                                                             -1-
Page 324
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                      AND SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                       Consolidated Statement of Financial Position
31 Desember 2023 dan 2022                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan                 Rupiah,             (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                 otherwise stated)




                                                         Catatan/
                                          2023            Notes                2022

Tagihan akseptasi                                             11                              Acceptance receivables
  Pihak ketiga                               79.864                                77.982       Third parties
  Cadangan kerugian
     penurunan nilai                          (1.560)                                 (593)     Allowance for impairment losses

Jumlah - bersih                              78.304                                77.389     Total - net

Aset ijarah                                                   12                              Ijarah assets
  Biaya perolehan                           615.525                               574.384        Cost
  Akumulasi penyusutan                     (181.623)                             (102.355)       Accumulated depreciation

Nilai tercatat                              433.902                              472.029      Net book value

Piutang transaksi efek                                        13                              Securities transaction receivables
  - Pihak ketiga                            154.722                              584.186        - Third parties

Piutang lain-lain                                             14                              Other accounts receivable
  Pihak berelasi                            373.759                            1.004.472        Related parties
  Pihak ketiga                            2.609.519                            2.557.262        Third parties
  Cadangan kerugian
     penurunan nilai                             (414)                            (73.053) Allowance for impairment losses

Jumlah - bersih                           2.982.864                            3.488.681      Total - net

Aset reasuransi                           3.933.978           15               3.839.933      Reinsurance assets

Investasi dalam saham                     3.357.804           16               3.093.263      Investment in shares of stock
Cadangan kerugian
   penurunan nilai                            (8.000)                             (51.195) Allowance for impairment losses

Jumlah - bersih                           3.349.804                            3.042.068      Total - net

Properti investasi                                            17                              Investment properties
  Biaya perolehan                           525.500                               523.842        Cost
  Akumulasi penyusutan                     (111.831)                             (101.158)       Accumulated depreciation

Nilai tercatat                              413.669                              422.684      Net carrying value

Aset tetap                                                    18                              Property and equipment
  Biaya perolehan                          5.931.905                            5.692.254       Cost
  Akumulasi penyusutan                    (3.186.911)                          (2.921.594)      Accumulated depreciation

Nilai tercatat                            2.744.994                            2.770.660      Net carrying value

Agunan yang diambil alih                    362.473           19                 645.596      Foreclosed assets
Cadangan kerugian
  penurunan nilai                            (88.120)                            (250.361) Allowance for impairment losses

Jumlah - bersih                             274.353                              395.235      Total - net

Aset pajak tangguhan                        375.773           47                 350.626      Deferred tax assets

Aset lain-lain                                                20                              Other assets
  Pihak berelasi                          1.351.102                            1.403.115        Related parties
  Pihak ketiga                            4.347.094                            3.619.390        Third parties

Jumlah                                    5.698.196                            5.022.505      Total

JUMLAH ASET                             113.966.010                          114.406.803      TOTAL ASSETS




Lihat Catatan atas laporan keuangan konsolidasian yang               See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                 statements which are an integral part of the consolidated
keuangan konsolidasian.                                              financial statements.

                                                               -2-
Page 325
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                      AND SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                       Consolidated Statement of Financial Position
31 Desember 2023 dan 2022                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan                 Rupiah,             (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                 otherwise stated)




                                                         Catatan/
                                          2023            Notes                2022

LIABILITAS DAN EKUITAS                                                                       LIABILITIES AND EQUITY

LIABILITAS                                                                                   LIABILITIES

Simpanan dan simpanan                                                                        Deposits and deposits from
  dari bank lain                                              21                               other banks
  Pihak berelasi                          7.542.621                            5.477.224       Related parties
  Pihak ketiga                           33.407.584                           31.070.287       Third parties

Jumlah                                   40.950.205                           36.547.511     Total

Efek-efek yang dijual
  dengan janji beli kembali                                                                  Securities sold under agreements
  - pihak ketiga                          1.051.717           22                         -     to repurchase - third parties
Utang asuransi                                                23                             Insurance payable
  Pihak berelasi                             18.471                              138.781        Related parties
  Pihak ketiga                            1.350.255                            1.969.261        Third parties

Jumlah                                    1.368.726                            2.108.042     Total

Liabilitas kontrak penjaminan                                                                Guarantee contract liabilities and
   dan premi diterima dimuka              3.889.571           24               3.200.370       premiums received in advance

Liabilitas manfaat polis
   masa depan                               367.502           25                 263.801     Liability for future policy benefits

Dana pemegang polis                                                                          Segregated funds contract
  - unit link                            20.767.188           2aa             26.345.175       liabilities - unit link

Liabilitas kontrak asuransi                 480.686           2z                 122.076     Insurance contract liability

Premi belum merupakan
  pendapatan dan estimasi                                                                    Unearned premiums and estimated
  liabilitas klaim                        6.915.357           26               6.781.509       claims liability

Liabilitas akseptasi                         79.880           11                   78.065    Acceptance payables

Utang transaksi efek                         86.341           27                 518.318     Securities transaction payables

Utang pajak                                 120.322           28                 385.722     Taxes payable

Beban akrual                                332.181           29                 290.866     Accrued expenses

Surat berharga yang diterbitkan           8.390.304           30               7.002.503     Securities issued

Pinjaman yang diterima                    2.086.386           31               3.687.007     Loans received

Liabilitas pajak tangguhan                       4.765        47                   10.933    Deferred tax liabilities

Liabilitas imbalan kerja jangka
   panjang                                  148.681           46                 127.617     Long-term employee Benefits Liability

                                                                                             Reserve for profit sharing
Cadangan bagi hasil peserta                  21.614                                20.320      distribution to participants

Liabilitas lain-lain                                          32                             Other Liabilities
   Pihak berelasi                           746.045                            1.108.570       Related parties
   Pihak ketiga                           1.329.993                            2.133.338       Third parties

Jumlah                                    2.076.038                            3.241.908     Total

Jumlah Liabilitas                        89.137.464                           90.731.743     Total Liabilities


Lihat Catatan atas laporan keuangan konsolidasian yang               See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                 statements which are an integral part of the consolidated
keuangan konsolidasian.                                              financial statements.

                                                               -3-
Page 326
PT SINAR MAS MULTIARTHA TBK                                                               PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                         AND SUBSIDIARIES
Laporan Posisi Keuangan Konsolidasian                                          Consolidated Statement of Financial Position
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan                Rupiah,                 (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                    otherwise stated)




                                                         Catatan/
                                          2023            Notes                   2022

EKUITAS                                                                                         EQUITY

Ekuitas yang Dapat Diatribusikan                                                                Equity Attributable to Owners
  Kepada Pemilik Entitas Induk                                                                    of the Parent Company

Modal saham - nilai nominal                                                                     Capital stock - Rp5,000
  Rp5.000 (dalam Rupiah penuh)                                                                    (in full Rupiah amount) par value
  per saham Seri A dan Rp100                                                                      per Series A share and Rp100
  (dalam Rupiah penuh)                                                                            (in full Rupiah amount)
  per saham Seri B                                                                                par value per Series B share
  Modal dasar - 142.474.368 saham                                                                 Authorized - 142,474,368 Series A
    Seri A dan 21.371.155.200                                                                        shares and 21,371,155,200 Series
    saham Seri B                                                                                     B shares
  Modal ditempatkan dan disetor -
    Seri A sebanyak 142.474.368
       saham
    Seri B masing-masing                                                                          Issued and paid-up -
       sebanyak 6.225.190.349                                                                        142,474,368 Series A shares
       saham                              1.334.891          34                   1.334.891          6,225,190,349 Series B shares

Tambahan modal disetor
  - bersih                                1.647.520          35                   1.647.520     Additional paid-in capital - net

Komponen ekuitas lainnya                    369.386          36                     425.816     Other equity component

Saldo laba                                                                                      Retained earnings
  Ditentukan penggunaannya                  791.607          37                     791.607       Appropriated
  Tidak ditentukan
     penggunaannya                       18.136.270                              17.004.706       Unappropriated

Jumlah                                   22.279.674                              21.204.540     Total

Kepentingan nonpengendali                 2.548.872          33                   2.470.520     Non-controlling interests

Jumlah Ekuitas                           24.828.546                              23.675.060     Total Equity

JUMLAH LIABILITAS                                                                               TOTAL LIABILITIES
  DAN EKUITAS                           113.966.010                             114.406.803       AND EQUITY




Lihat Catatan atas laporan keuangan konsolidasian yang                  See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                    statements which are an integral part of the consolidated
keuangan konsolidasian.                                                 financial statements.

                                                                  -4-
Page 327
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Laporan Laba Rugi dan Penghasilan Komprehensif                                       Consolidated Statement of Profit or
Lain Konsolidasian                                                               Loss and Other Comprehensive Income
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                otherwise stated)



                                                         Catatan/
                                          2023            Notes               2022

PENDAPATAN                                                                                  INCOME
Pendapatan underwriting
   asuransi                              18.035.097        38                23.265.196     Insurance underwriting income
Pendapatan bunga dan                                                                        Interest and profit sharing
  bagi hasil                              5.852.771        39                 5.643.540        income
Keuntungan penjualan
  investasi jangka                                                                          Gain on sale of short-term
  pendek - bersih                                  -                            880.708        investments - net
Pendapatan administrasi                                                                     Administration fee and
  dan komisi                                678.696                             823.145        commissions
Penjualan                                   441.272        40                   194.352     Sales
Pendapatan jasa                                                                             Income from underwriting
  penjaminan emisi                                                                             services and securities
  dan perantara pedagang efek                                                                  brokers and
  serta manager investasi                   536.822                             520.085        investment managers
Keuntungan dari investasi pada                                                              Gain on investments in
  unit reksa dana                           813.189         5                   920.342        units of mutual funds
Keuntungan selisih kurs mata                                                                Gain on foreign exchange
  uang asing - bersih                       197.591                             241.189        - net
Ekuitas pada laba entitas                                                                   Share in net income of the
  asosiasi - bersih                          73.243                               20.259       associates - net
Keuntungan atas kenaikan                                                                    Gains on increases
  nilai wajar efek                           25.346                                     -      in the fair value of securities
                                                                                            Income from lending
Pendapatan pinjam meminjam                                                                     and borrowing based on
  berbasis teknologi informasi               14.246                               24.292       information technology
Pendapatan jasa biro                                                                        Securities administration
  administrasi efek                           7.844                               6.535        fee
Pendapatan lain-lain                        254.033        41                   648.460     Other income

Jumlah Pendapatan                        26.930.150                          33.188.103     Total Income

BEBAN                                                                                       EXPENSES
Beban underwriting asuransi              16.752.587        42                23.900.871     Insurance underwriting expenses
                                                                                            General and administrative
Beban umum dan administrasi               2.238.830        43                 2.033.572        expenses
Beban bunga dan bagi hasil                1.973.058        44                 1.664.347     Interest and profit sharing expenses
Beban gaji dan tunjangan
  karyawan                                2.176.654                           1.961.980     Salaries and employee benefits
Beban kerugian penurunan                                                                    Provision for impairment losses
  nilai aset keuangan                                                                         on financial and non-financial
  dan non-keuangan - bersih               1.525.009                             882.780       assets - net
Beban pokok penjualan                       449.330                             271.912     Costs of goods sold
Kerugian penjualan
  investasi jangka                                                                          Loss on sale of short-term
  pendek - bersih                           380.943                                     -     investments - net
Kerugian atas penurunan                                                                     Loss on decreases
  nilai wajar efek                                -                           1.064.891       in fair value of securities
Beban lain-lain                             149.482        45                   160.435     Other expenses

Jumlah Beban                             25.645.893                          31.940.788     Total Expenses

LABA SEBELUM PAJAK                        1.284.257                           1.247.315     PROFIT BEFORE TAX

BEBAN (MANFAAT) PAJAK                                      47                             TAX EXPENSE (BENEFIT)
Kini                                        109.838                              447.441 Current tax
Tangguhan                                   (14.296)                            (102.126) Deferred tax

Jumlah                                       95.542                             345.315     Total




Lihat Catatan atas laporan keuangan konsolidasian yang              See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                statements which are an integral part of the consolidated
keuangan konsolidasian.                                             financial statements.

                                                             -5-
Page 328
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Laporan Laba Rugi dan Penghasilan Komprehensif                                       Consolidated Statement of Profit or
Lain Konsolidasian                                                               Loss and Other Comprehensive Income
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                otherwise stated)




                                                         Catatan/
                                          2023            Notes               2022

LABA TAHUN BERJALAN                       1.188.715                             902.000     PROFIT FOR THE YEAR

PENGHASILAN (RUGI)                                                                          OTHER COMPREHENSIVE
  KOMPREHENSIF LAIN                                                                         INCOME (LOSS)

Pos yang tidak akan direklasifikasi                                                       Items that will not be reclassified
  ke laba rugi                                                                               to profit or loss
  Pengukuran kembali liabilitas                                                              Remeasurement of defined
    imbalan pasti                            (47.926)      46                     (4.017)    benefit liability
  Pajak sehubungan dengan
    pos yang tidak akan                                                                       Tax relating to item that will
    direklasifikasi                          10.544        47                        884        not be reclassified

                                             (37.382)                             (3.133)
  Laba (rugi) yang belum
    direalisasi atas perubahan                                                                Unrealized gain (loss) on
    nilai wajar efek                        196.569        5,36                   (5.822)       changes in fair value of

Pos yang akan direklasifikasi                                                               Items that will be reclassified
  ke laba rugi                                                                                   to profit or loss
  Ekuitas pada penyesuaian
    penjabaran dari entitas                                                                   Translation adjustment
    anak                                     (49.504)      36                        (70)       of a subsidiary

TOTAL PENGHASILAN (RUGI)                                                                  TOTAL OTHER
  KOMPREHENSIF                                                                            COMPREHENSIVE INCOME
  SETELAH PAJAK                             109.683                               (9.025)   (LOSS) - NET OF TAX

JUMLAH PENGHASILAN                                                                          TOTAL COMPREHENSIVE
  KOMPREHENSIF - BERSIH                   1.298.398                             892.975       INCOME - NET

Laba bersih teratribusikan kepada:                                                          Profit attributable to:
  Pemilik entitas induk                   1.168.946                             844.563       Owners of the Parent Company
  Kepentingan nonpengendali                  19.769        33                    57.437       Non-controlling interests

                                          1.188.715                             902.000

Penghasilan komprehensif                                                                 Comprehensive income
  teratribusikan kepada:                                                                   attributable to:
  Pemilik entitas induk                   1.154.288                             931.448    Owners of the Parent Company
  Kepentingan nonpengendali                 144.110                             (38.473)   Non-controlling interests

                                          1.298.398                             892.975

Laba (Rugi) Bersih per Saham                                                                Earnings per Share
  (dalam Rupiah penuh)                                     48                                 (in full Rupiah amount)
  Dasar (Dilusian)                               184                                 133      Basic (Diluted)




Lihat Catatan atas laporan keuangan konsolidasian yang              See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                statements which are an integral part of the consolidated
keuangan konsolidasian.                                             financial statements.

                                                             -6-
Page 329
PT SINAR MAS MULTIARTHA TBK DAN ENTITAS ANAK                                                                                                                                      PT SINAR MAS MULTIARTHA TBK AND SUBSIDIARIES
Laporan Perubahan Ekuitas Konsolidasian                                                                                                                                                    Consolidated Statement of Changes in Equity
Untuk Tahun-tahun Yang Berakhir 31 Desember 2023 dan 2022                                                                                                                                                            For the Years Ended
(Angka-angka Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                        December 31, 2023 and 2022
                                                                                                                                                                      (Figures are Presented in Millions Rupiah, unless otherwise stated)


                                                                             Ekuitas yang dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Company

                                                                                                              Komponen Ekuitas Lainnya/Other Equity Components

                                                                                                                                 Dampak Transaksi
                                                                                                                                    Entitas Anak
                                                                                                 Laba                                 dan Entitas
                                                                                             (Rugi) yang                         Asosiasi dengan
                                                                                                Belum                                Investor lain
                                                                                              Direalisasi                        atau Kepentingan
                                                                                            atas Kenaikan                         Nonpengendali/
                                                                                          (Penurunan) Nilai                            Impact of
                                                                       Tambahan              Wajar Efek/        Penyesuaian         Subsidiaries
                                                                      Modal Disetor           Unrealized       Penjabaran dari    and Associates                             Saldo Laba/Retained Earnings                        Kepentingan
                                                                        Bersih/            Gain (Loss) on       Entitas Anak/    Transactions with                                                                              Nonpengendali/       Total
                                                     Modal             Additional             Change in          Translation      Other Investors                           Ditentukan        Tidak Ditentukan                        Non           Ekuitas/
                                       Catatan/     Saham/              Paid-in             Fair Value of        Adjustment of   or Non-Controlling                       Penggunaannya/      Penggunaannya/                      Controlling         Total
                                        Notes     Capital stock       Capital - Net           Securities          a Subsidiary          Interest           Total           Appropriated       Unappropriated      Total            Interests         Equity

Saldo pada tanggal 1 Januari 2022/
Balance as at January 1, 2022                         1.334.891            1.647.520              510.419                2.452           (176.936 )          335.935               791.607          16.162.858    20.272.811          2.509.473       22.782.284

Laba tahun berjalan/
Profit for the year                                               -                   -                 -                    -                   -                    -                   -           844.563       844.563             57.437           902.000
                                                                  -
Laba komprehensif lain/
Other Comprehensive Income
   Pengukuran kembali
      liability imbalan pasti/
   Remeasurement of defined
      benefit liability                 46,47                     -                   -                 -                    -                   -                    -                   -             (3.133)       (3.133)            (2.259)          (5.392)
   Laba yang belum direalisasi atas
      kenaikan nilai wajar efek/
   Unrealized gain on change in ha
      fair value of financial assets     5,36                     -                   -            84.505                    -                   -               84.505                   -                  -       84.505             (90.328)          (5.823)
   Ekuitas pada penyesuaian
      penjabaran dari entitas anak/
   Translation adjusment of
      subsidiary                         36                       -                   -                 -                5.513                   -                5.513                   -                  -        5.513              (3.323)           2.190

Jumlah penghasilan komprehensif/
Total comprehensive income                                        -                   -            84.505                5.513                   -               90.018                   -           841.430       931.448             (38.473 )        892.975




Lihat Catatan atas laporan keuangan konsolidasian yang merupakan bagian yang tidak terpisahkan                                                 See accompanying notes to the consolidated financial statements which are an integral part of
dari laporan keuangan konsolidasian.                                                                                                           the consolidated financial statements.

                                                                                                                                  -7-
Page 330
PT SINAR MAS MULTIARTHA TBK DAN ENTITAS ANAK                                                                                                                                            PT SINAR MAS MULTIARTHA TBK AND SUBSIDIARIES
Laporan Perubahan Ekuitas Konsolidasian                                                                                                                                                          Consolidated Statement of Changes in Equity
Untuk Tahun-tahun Yang Berakhir 31 Desember 2023 dan 2022                                                                                                                                                                  For the Years Ended
(Angka-angka Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                              December 31, 2023 and 2022
                                                                                                                                                                            (Figures are Presented in Millions Rupiah, unless otherwise stated)



                                                                                            Ekuitas yang dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Company

                                                                                                                  Komponen Ekuitas Lainnya/Other Equity Components

                                                                                                                                     Dampak Transaksi
                                                                                                                                        Entitas Anak
                                                                                                     Laba                                 dan Entitas
                                                                                                 (Rugi) yang                         Asosiasi dengan
                                                                                                    Belum                                Investor lain
                                                                                                  Direalisasi                        atau Kepentingan
                                                                                                atas Kenaikan                         Nonpengendali/
                                                                                              (Penurunan) Nilai                            Impact of
                                                                         Tambahan                Wajar Efek/        Penyesuaian         Subsidiaries
                                                                        Modal Disetor             Unrealized       Penjabaran dari    and Associates                                Saldo Laba/Retained Earnings                          Kepentingan
                                                                          Bersih/              Gain (Loss) on       Entitas Anak/    Transactions with                                                                                   Nonpengendali/     Total
                                                       Modal             Additional               Change in          Translation      Other Investors                              Ditentukan       Tidak Ditentukan                           Non         Ekuitas/
                                         Catatan/     Saham/              Paid-in               Fair Value of        Adjustment of   or Non-Controlling                          Penggunaannya/     Penggunaannya/                         Controlling       Total
                                          Notes     Capital stock       Capital - Net             Securities          a Subsidiary          Interest             Total            Appropriated      Unappropriated       Total              Interests       Equity

Dampak transaksi entitas anak
   dan entitas asosiasi dengan
   investor lain atau
   kepentingan nonpengendali/
Impact of subsidiaries and associates
   transaction with other investors
   or Non-Conrolling interest                                       -                   -                    -                   -               (137 )                  (137)                  -                    -           (137)              137                  -

Pembelian/penjualan saham
   dari minoritas/
Acquisition/sale of shares by minority                              -                   -                    -                   -                   -                      -                   -                  418           418               (617)              (199)

Jumlah transaksi dengan pemilik/
Total transactions with the owner                                   -                   -                    -                   -               (137 )                  (137)                  -                  418           281               (480)              (199)

Saldo pada tanggal 31 Desember 2022/
Balance as at December 31, 2022                         1.334.891            1.647.520                594.924                7.965           (177.073 )            425.816               791.607          17.004.706     21.204.540            2.470.520     23.675.060




Lihat Catatan atas laporan keuangan konsolidasian yang merupakan bagian yang tidak terpisahkan                                                     See accompanying notes to the consolidated financial statements which are an integral part of
dari laporan keuangan konsolidasian.                                                                                                               the consolidated financial statements.

                                                                                                                                      -8-
Page 331
PT SINAR MAS MULTIARTHA TBK DAN ENTITAS ANAK                                                                                                                                      PT SINAR MAS MULTIARTHA TBK AND SUBSIDIARIES
Laporan Perubahan Ekuitas Konsolidasian                                                                                                                                                    Consolidated Statement of Changes in Equity
Untuk Tahun-tahun Yang Berakhir 31 Desember 2023 dan 2022                                                                                                                                                            For the Years Ended
(Angka-angka Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                        December 31, 2023 and 2022
                                                                                                                                                                      (Figures are Presented in Millions Rupiah, unless otherwise stated)



                                                                                        Ekuitas yang dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Company

                                                                                                              Komponen Ekuitas Lainnya/Other Equity Components

                                                                                                                                  Dampak Transaksi
                                                                                                                                     Entitas Anak
                                                                                                 Laba                                  dan Entitas
                                                                                             (Rugi) yang                          Asosiasi dengan
                                                                                                Belum                                 Investor lain
                                                                                              Direalisasi                         atau Kepentingan
                                                                                            atas Kenaikan                          Nonpengendali/
                                                                                          (Penurunan) Nilai                             Impact of
                                                                     Tambahan                Wajar Efek/        Penyesuaian          Subsidiaries
                                                                    Modal Disetor             Unrealized       Penjabaran dari     and Associates                              Saldo Laba/Retained Earnings                           Kepentingan
                                                                      Bersih/              Gain (Loss) on       Entitas Anak/     Transactions with                                                                                  Nonpengendali/      Total
                                                   Modal             Additional               Change in          Translation       Other Investors                           Ditentukan        Tidak Ditentukan                            Non          Ekuitas/
                                     Catatan/     Saham/              Paid-in               Fair Value of        Adjustment of    or Non-Controlling                       Penggunaannya/      Penggunaannya/                          Controlling        Total
                                      Notes     Capital stock       Capital - Net             Securities          a Subsidiary           Interest            Total          Appropriated       Unappropriated          Total            Interests        Equity

Saldo pada tanggal 1 Januari 2023/
Balance as at January 1, 2023                       1.334.891            1.647.520                594.924                7.965            (177.073 )           425.816               791.607         17.004.706        21.204.540          2.470.520      23.675.060

Laba tahun berjalan/
Profit for the year                                             -                   -                    -                   -                    -                   -                    -           1.168.946        1.168.946            19.769        1.188.715

Laba komprehensif lain/
Other Comprehensive Income
   Pengukuran kembali
      liability imbalan pasti/
   Remeasurement of defined
      benefit liability                46,47                    -                   -             (12.113)                   -                    -             (12.113)                   -                (37.382)      (49.495)            (5.102)        (54.597)
   Laba yang belum direalisasi atas
      kenaikan nilai wajar efek/
   Unrealized gain on change in
      fair value of financial assets    5,36                    -                   -              67.484                    -                    -              67.484                    -                              67.484            129.085          196.569
   Ekuitas pada penyesuaian
      penjabaran dari entitas anak/
   Translation adjusment of subsiadiary 36                      -                   -                    -             (32.647)                   -             (32.647)                   -                      -       (32.647)              358          (32.289)

Jumlah penghasilan komprehensif/
Total comprehensive income                                      -                   -              55.371              (32.647)                   -              22.724                    -           1.131.564        1.154.288           144.110        1.298.398




Lihat Catatan atas laporan keuangan konsolidasian yang merupakan bagian yang tidak terpisahkan                                                  See accompanying notes to the consolidated financial statements which are an integral part of
dari laporan keuangan konsolidasian.                                                                                                            the consolidated financial statements.

                                                                                                                                   -9-
Page 332
PT SINAR MAS MULTIARTHA TBK DAN ENTITAS ANAK                                                                                                                                          PT SINAR MAS MULTIARTHA TBK AND SUBSIDIARIES
Laporan Perubahan Ekuitas Konsolidasian                                                                                                                                                        Consolidated Statement of Changes in Equity
Untuk Tahun-tahun Yang Berakhir 31 Desember 2023 dan 2022                                                                                                                                                                For the Years Ended
(Angka-angka Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                                            December 31, 2023 and 2022
                                                                                                                                                                          (Figures are Presented in Millions Rupiah, unless otherwise stated)


                                                                                            Ekuitas yang dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Company

                                                                                                                  Komponen Ekuitas Lainnya/Other Equity Components

                                                                                                                                      Dampak Transaksi
                                                                                                                                         Entitas Anak
                                                                                                     Laba                                  dan Entitas
                                                                                                 (Rugi) yang                          Asosiasi dengan
                                                                                                    Belum                                 Investor lain
                                                                                                  Direalisasi                         atau Kepentingan
                                                                                                atas Kenaikan                          Nonpengendali/
                                                                                              (Penurunan) Nilai                             Impact of
                                                                         Tambahan                Wajar Efek/        Penyesuaian          Subsidiaries
                                                                        Modal Disetor             Unrealized       Penjabaran dari     and Associates                              Saldo Laba/Retained Earnings                      Kepentingan
                                                                          Bersih/              Gain (Loss) on       Entitas Anak/     Transactions with                                                                             Nonpengendali/       Total
                                                       Modal             Additional               Change in          Translation       Other Investors                           Ditentukan        Tidak Ditentukan                       Non           Ekuitas/
                                         Catatan/     Saham/              Paid-in               Fair Value of        Adjustment of    or Non-Controlling                       Penggunaannya/      Penggunaannya/                     Controlling         Total
                                          Notes     Capital stock       Capital - Net             Securities          a Subsidiary           Interest            Total          Appropriated       Unappropriated     Total            Interests         Equity

Dampak transaksi entitas anak
   dan entitas asosiasi dengan
   investor lain atau
   kepentingan nonpengendali/
Impact of subsidiaries and associates
   transaction with other investors
   or Non-Conrolling interest                                       -                   -                    -                   -              (79.154 )           (79.154)                   -                  -      (79.154)            79.154                -

Pembelian/penjualan saham
   dari minoritas/
Acquisition/sale of shares by minority                                                  -                    -                   -                     -                  -                    -                  -            -           (144.912 )       (144.912)

Jumlah transaksi dengan pemilik/
Total transactions with the owner                                   -                   -                    -                   -              (79.154 )           (79.154)                   -                  -      (79.154)           (65.758)        (144.912)

Saldo pada tanggal 31 Desember 2023/
Balance as at December 31, 2023                         1.334.891            1.647.520                650.295              (24.682)            (256.227 )          369.386               791.607         18.136.270   22.279.674          2.548.872       24.828.546




Lihat Catatan atas laporan keuangan konsolidasian yang merupakan bagian yang tidak terpisahkan                                                       See accompanying notes to the consolidated financial statements which are an integral part of
dari laporan keuangan konsolidasian.                                                                                                                 the consolidated financial statements.

                                                                                                                                      - 10 -
Page 333
PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Laporan Arus Kas Konsolidasian                                                     Consolidated Statement of Cash Flows
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                  otherwise stated)




                                                         Catatan/
                                          2023            Notes                2022

ARUS KAS DARI AKTIVITAS                                                                       CASH FLOWS FROM
  OPERASI                                                                                        OPERATING ACTIVITIES
Penerimaan dari jasa                                                                          Insurance underwriting income
  underwriting asuransi                  18.055.505        38                 25.112.380         received
Penerimaan bunga dan                                                                          Interest and profit sharing
  bagi hasil                              6.547.593        39                  5.177.894         revenues
                                                                                              Securities transaction income
Penerimaan dari transaksi efek              522.960                              507.200         received
Penerimaan dari jasa biro                                                                     Securities administration
  administrasi efek                              7.902                                8.633      fee received
Penerimaan dari pendapatan
  lain-lain                               1.385.265        41                  1.687.533      Other income received
Pembayaran beban                                                                              Insurance underwriting
  underwriting asuransi                  (22.154.764)      42                (30.073.665)        expenses paid
Pembayaran beban usaha                    (4.614.037)      43                 (4.001.970)     Operating expenses
Pembayaran beban bunga                                                                        Interest and profit sharing
  dan bagi hasil                            (886.657)      44                    (778.106)       expenses
Keuntungan selisih kurs                     (163.627)                             (30.072)    Gain on foreign exchange

Laba (rugi) operasi                                                                           Operating profit (loss) before
  sebelum perubahan                                                                              changes in operating
  aset/liabilitas operasi                 (1.299.860)                          (2.390.173)       assets/liabilities
Penurunan (kenaikan) aset:                                                                    Decrease (increase) in assets:
  Efek yang dibeli dengan                                                                        Securities purchased under
     janji jual kembali                           -                             1.672.987           agreements to resell
  Investasi jangka pendek                 6.333.978                            (1.076.231)       Short-term investments
  Piutang pembiayaan                                                                             Multipurpose financing
     multiguna                               (88.092)       6                    182.543            receivables
  Piutang sewa pembiayaan                     73.012        7                     42.929         Finance lease receivables
                                                                                                 Working capital financing
  Piutang pembiayaan modal                                                                          with factoring scheme
    kerja skema anjak piutang              1.069.203        8                   (862.486)           receivables
  Kredit yang diberikan                   (1.959.097)      10                  2.758.425         Loans
  Aset Ijarah                                 38.127       12                    (73.377)        Ijarah assets
                                                                                                 Securities transaction
  Piutang transaksi efek                     443.326       13                    (186.137)          receivables
  Piutang lain-lain                          (42.501)      14                  (1.529.801)       Other accounts receivable
  Agunan yang diambil alih                   283.123       19                      63.940        Foreclosed properties
  Aset lain-lain                          (2.009.052)      20                    (569.212)       Other assets
Kenaikan (penurunan) liabilitas:                                                              Increase (decrease) in liabilities:
  Simpanan dan simpanan                                                                          Deposits and deposits from
     dari bank lain                       4.402.694        21                  (5.710.045)          other banks
  Efek yang dijual dengan                                                                        Securities sold under
     janji beli kembali                    1.051.717       22                          -            agreement to repurchased
  Premi diterima dimuka                      689.201       24                   (214.205)        Premiums received in advance
  Utang transaksi efek                      (431.977)      27                    211.727         Securities transaction payables
  Utang pajak                                 (1.832)      28                      4.992         Taxes payable
  Beban akrual                                 5.343       29                     57.740         Accrued expenses
  Bagi hasil peserta                           1.294                             (11.390)        Profit sharing
  Liabilitas lain-lain                    (1.203.805)      32                  1.355.376         Other liabilities

Kas Bersih Diperoleh dari
  (Digunakan untuk) Aktivitas                                                                 Net Cash Provided by (Used in)
  Operasi sebelum Pajak                   7.354.802                            (6.272.398)      Operating Activities before Tax
Pembayaran pajak penghasilan               (373.406)      28,47                  (186.697)      Income tax paid

Kas Bersih Diperoleh dari
  (Digunakan untuk)                                                                           Net Cash Provided by (Used in)
  Aktivitas Operasi                       6.981.396                            (6.459.095)      Operating Activities




Lihat Catatan atas laporan keuangan konsolidasian yang               See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                 statements which are an integral part of the consolidated
keuangan konsolidasian.                                              financial statements.

                                                                - 11 -
Page 334
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Laporan Arus Kas Konsolidasian                                                   Consolidated Statement of Cash Flows
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                otherwise stated)




                                                         Catatan/
                                          2023            Notes               2022

ARUS KAS DARI AKTIVITAS                                                                   CASH FLOWS FROM
  INVESTASI                                                                                 INVESTING ACTIVITIES
Penerimaan penjualan investasi                                                            Proceeds from sale of
  dalam saham                               455.296        16                   (306.863)   investment in shares
                                                                                          Proceeds from sale of property
Hasil penjualan aset tetap                       6.088     18                    399.579    and equipment
                                                                                          Acquisition of investment
Penambahan properti investasi                 (5.709)      17                     (3.473)   properties
                                                                                          Acquisition of investment
Pembelian aset tetap                        (384.392)      18                   (378.776)   and equipment

Kas Bersih Diperoleh
  (Digunakan untuk) dari                                                                    Net Cash Provided by
  Aktivitas Investasi                        71.283                             (289.533)     (Used in) Investing Activities

ARUS KAS DARI AKTIVITAS                                                                     CASH FLOWS FROM
  PENDANAAN                                                                                    FINANCING ACTIVITIES
Penambahan (pembayaran)                                                                     Proceeds (payment)
  pinjaman yang diterima                  (1.612.541)      31                   211.801        from loan received
Penerbitan surat berharga                                                                   Proceeds from securities
  yang diterbitkan                        2.201.138        30                 4.535.765        issued
                                                                                            Capital stock of subsidiaries
Setoran modal pada entitas anak                                                             issued to non-controlling
  oleh kepentingan nonpengendali          (1.274.832)                           266.056        interest
Pembayaran beban bunga
  pinjaman yang diterima                                                                  Payment of interest expense
  dan surat berharga yang                                                                 on loan received and
  diterbitkan                             (1.851.847)     32,45               (2.498.859) securities issued

Kas Bersih Diperoleh dari
  (Digunakan untuk)                                                                         Net Cash Provided by (Used in)
  Aktivitas Pendanaan                     (2.538.082)                         2.514.763       Financing Activities

KENAIKAN BERSIH KAS DAN                                                                     NET INCREASE (DECREASE) IN
  SETARA KAS                              4.514.597                           (4.233.865)     CASH AND CASH EQUIVALENTS

                                                                                            CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS                                                                             AT THE BEGINNING OF
  AWAL TAHUN                             14.687.466                          18.598.769        THE YEAR
Pengaruh perubahan kurs                                                                     Effect of foreign exchange
  mata uang asing                           328.932                             322.562        rate changes

KAS DAN SETARA KAS                                                                          CASH AND CASH EQUIVALENTS
  AKHIR TAHUN                            19.530.995                          14.687.466       AT THE END OF THE YEAR

PENGUNGKAPAN                                                                                SUPPLEMENTAL
   TAMBAHAN                                                                                   DISCLOSURES
Kas dan bank                              9.535.094                           6.624.781     Cash and cash in banks
Investasi jangka pendek                                                                     Short-term investments
   jangka waktu jatuh tempo                                                                   with maturities
   tiga bulan atau kurang sejak                                                               of three months or
   tanggal perolehan                      9.995.901                           8.062.685       less from the placement date

                                                                                            Total Cash and Cash
Jumlah kas dan setara kas                19.530.995                          14.687.466       Equivalents




Lihat Catatan atas laporan keuangan konsolidasian yang              See accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan                statements which are an integral part of the consolidated
keuangan konsolidasian.                                             financial statements.

                                                             - 12 -
Page 335
PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                         unless otherwise stated)


1.   Umum                                                             1.   General

     a.   Pendirian Informasi Umum                                         a.   Establishment and General Information

          PT Sinar Mas Multiartha Tbk (“Perusahaan”)                            PT Sinar Mas Multiartha Tbk (the “Company”)
          sebelumnya bernama PT Internas Arta                                   which was formerly named PT Internas Arta
          Leasing Company atau PT Internas Arta                                 Leasing Company or PT Internas Arta Finance
          Finance Company, didirikan dengan Akta No.                            Company, was established by virtue of Notarial
          60 tertanggal 21 Oktober 1982 dari Benny                              Deed No. 60 dated October 21, 1982 of Benny
          Kristianto, S.H., notaris di Jakarta, yang telah                      Kristianto, S.H., public notary in Jakarta, which
          disahkan oleh Menteri Kehakiman Republik                              was approved by the Minister of Justice of the
          Indonesia pada tanggal 30 September 1983                              Republic of Indonesia in his Decision
          melalui     Surat     Keputusan      No.     C2-                      Letter No. C2-6537.HT.01.01.Th.83 dated
          6537.HT.01.01.Th.83          dengan       nama                        September 30, 1983, under the name of
          PT Internas Arta Leasing Company. Akta                                PT Internas Arta Leasing Company. The
          Pendirian ini telah didaftarkan ke Kantor                             Articles of Association of the Company were
          Pengadilan Negeri Jakarta Barat pada tanggal                          registered in the Court of Justice of West
          17 Mei 1984 dengan No. 489/1984.                                      Jakarta on May 17, 1984 under registration
                                                                                No. 489/1984.

          Pada tanggal 1 Mei 1989, pemegang saham                               On May 1, 1989, the stockholders held an
          mengadakan Rapat Umum Pemegang Saham                                  Extraordinary General Stockholders Meeting
          Luar Biasa (RUPSLB) dan memutuskan untuk                              (EGSM) and agreed to change the Company’s
          mengubah nama PT Internas Arta Leasing                                name from PT Internas Arta Leasing Company
          Company menjadi PT Internas Arta Finance                              to PT Internas Arta Finance Company. These
          Company. Keputusan ini dituangkan dalam                               decisions were documented in Notarial Deed
          Akta No. 15 tertanggal 1 Mei 1989 dari Benny                          No. 15 dated May 1, 1989 of Benny Kristianto,
          Kristianto, S.H., notaris di Jakarta, dan telah                       S.H., public notary in Jakarta, and were
          mendapat persetujuan dari Menteri Kehakiman                           approved by the Minister of Justice of the
          Republik Indonesia pada tanggal 2 Agustus                             Republic of Indonesia in his Decision Letter
          1989 melalui Surat Keputusan No. C2-                                  No. C2-6968.HT.01.04.Th.89 dated August 2,
          6968.HT.01.04.Th.89.       Akta     ini   telah                       1989. This Notarial Deed was registered in the
          didaftarkan ke Kantor Pengadilan Negeri                               Court of Justice of West Jakarta on August 16,
          Jakarta Barat pada tanggal 16 Agustus 1989                            1989 under registration No. 1109/1989.
          dengan No. 1109/1989.

          Pada tanggal 25 Februari 1995, pemegang                               On February 25, 1995, the stockholders held
          saham      mengadakan       RUPSLB       dan                          an EGSM and agreed to change the
          memutuskan      untuk    mengubah      nama                           Company’s name to PT Sinar Mas Multiartha.
          Perusahaan menjadi PT Sinar Mas Multiartha.                           This EGSM decision were documented in
          Keputusan RUPSLB ini didokumentasikan                                 Notarial Deed No. 218 dated February 25,
          dalam Akta No. 218 tertanggal 25 Februari                             1995 of Veronica Lily Dharma, S.H., public
          1995 dari Veronica Lily Dharma, S.H., notaris                         notary in Jakarta, and were approved by the
          di Jakarta, dan telah mendapat persetujuan                            Minister of Justice of the Republic of Indonesia
          dari Menteri Kehakiman Republik Indonesia                             in his Decision Letter No. C2-5573.HT.01.04.
          melalui Surat Keputusan No. C2-5573.                                  Th.95 dated May 5, 1995.
          HT.01.04.Th.95 tanggal 5 Mei 1995.

          Pada tanggal 30 Mei 1996, pemegang saham                              On May 30, 1996, the stockholders of the
          Perusahaan mengadakan RUPSLB dan                                      Company held an EGSM and agreed on
          memutuskan hal-hal signifikan antara lain                             significant matters including the change in the
          mengubah kegiatan usaha utama Perusahaan                              main business activities of the Company from
          dari bidang jasa keuangan dan manajemen                               financing activities and treasury management
          treasuri menjadi bidang perdagangan, industri,                        to trading, manufacturing, transportation, real
          angkutan, real estat, dan jasa; dan mengubah                          estate and services; and changing the Articles
          Anggaran Dasar Perusahaan sesuai dengan                               of Association to comply with Corporate Law
          Peraturan Perusahaan No.1 tahun 1995,                                 No. 1 of 1995, concerning Limited Liability
          tentang Perusahaan Terbatas, termasuk                                 Companies, including changing the name of
          menyesuaikan nama Perusahaan menjadi                                  the Company to PT Sinar Mas Multiartha Tbk.
          PT Sinar Mas Multiartha Tbk. Risalah RUPSLB                           The minutes of this EGMS were documented
          ini didokumentasikan dalam Akta No. 143 dan                           in Notarial Deed No. 143 and 144 dated




                                                             - 13 -
Page 336
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       144 tertanggal 30 Mei 1996 dan Akta                           May 30, 1996 and Deed of Amendment No. 69
       perubahan No. 69 tertanggal 23 Agustus 1996                   dated August 23, 1996 of Sutjipto, S.H., public
       dari Sutjipto, S.H., notaris di Jakarta.                      notary in Jakarta. These Notarial Deeds were
       Persetujuan dari Menteri Kehakiman Republik                   approved by the Minister of Justice of the
       Indonesia atas perubahan Anggaran Dasar                       Republic of Indonesia in his Decision Letter
       Perusahaan ini diperoleh melalui Surat                        No. C2-8689.HT.01.04.Th.96 dated August 30,
       Keputusan     No.    C2-8689.HT.01.04.Th.96                   1996.
       tanggal 30 Agustus 1996.

       Anggaran Dasar Perusahaan telah bebarapa                      The Company’s Articles of Association have
       kali    mengalami        perubahan,    terakhir               been amended several times, most recently by
       berdasarkan Akta No. 132 tertanggal 27 Juni                   Notarial Deed No. 132 dated June 27, 2023 of
       2023 dari Aulia Taufani, S.H, notaris di                      Aulia Taufani, S.H., a public notary in Jakarta,
       Jakarta, antara lain tentang perubahan pasal 4                among other, concerns the amendement of
       mengenai perubahan Rapat Umum Pemegang                        Article 4 regarding changes to the General
       Saham; pasal 10 mengenai Tempat,                              Meeting of Shareholders (GMS); Article 10
       Pemberitahuan, Pengumuman, Pemanggilan                        concerning Venue, Notices, Announcements,
       dan Pimpinan Rapat Umum Pemegang saham                        Convocation, and Leadership of the GMS;
       (RUPS); Pasal 11 mengenai Tata Tertib,                        Article 11 regarding Rules of Procedure,
       Kuorum, Hak Suara dan Keputusan RUPS;                         Quorum, Voting Rights, and Resolutions of the
       Pasal 20 mengenai Rencana Kerja, Tahun                        GMS; Article 20 regarding Work Plans, Fiscal
       Buku dan Laporan Tahunan; pasal 22                            Year, and Annual Reports; Article 22
       mengenai Penggunaan Laba dan Pembagian                        concerning the Utilization of Profits and
       Dividen. Perubahan Anggaran Dasar ini telah                   Dividend Distribution. These amendments to
       diterima dan dicatat oleh Menteri Hukum dan                   the Articles of Association have been accepted
       Hak Asasi Manusia dengan Surat Keputusan                      and recorded by the Minister of Law and
       No. No. AHU-AH.01.03-0091781 tanggal 14                       Human Rights in Decree No. AHU-AH.01.03-
       Juli 2023.                                                    0091781 dated July 14, 2023.

       Perusahaan memulai kegiatan usaha secara                      The Company started its commercial
       komersial sejak tahun 1983, yaitu di bidang                   operations in 1983, engaging in finance
       sewa pembiayaan, anjak piutang, dan                           leasing, financing with factoring scheme
       pembiayaan konsumen. Untuk melaksanakan                       receivables, and consumer financing. To
       kegiatan usaha tersebut, Perusahaan telah                     conduct the business activities, the Compnay
       memperoleh izin dari Menteri Keuangan                         has obtained a license from the minister of
       Republik Indonesia No. 300/KMK.013/1990                       finance of the republic of indonesia No.
       tertanggal 3 Maret 1990.                                      300/KMK.013/1990 dated March 3, 1990.

       Sesuai dengan pasal 3 Anggaran Dasar                          In accordance with article 3 of the Company’s
       Perusahaan, kegiatan usaha Perusahaan                         Articles of Association, the business activities
       adalah dalam bidang aktivitas keuangan dan                    of the Company are in financial and insurance
       asuransi, aktivitas profesional, ilmiah dan                   activities, professional, scientific and technical
       teknis serta perdagangan besar. Perusahaan                    activities, and wholesale. The Company is
       adalah perusahaan induk (Holding Company)                     Holding Company with subsidiary entity a
       dengan entitas-entitas anak yang bergerak di                  engaged in the fields of banking, life insurance,
       bidang perbankan, asuransi jiwa, asuransi                     loss insurance, multifinance, securities,
       kerugian, pembiayaan, sekuritas, layanan                      technology - based lending and borrowing
       pinjam meminjam uang berbasis teknologi,                      service, venture capital, share register, money
       modal ventura, biro administrasi efek,                        changer, workshop, property, information
       pedagang valuta asing, bengkel, properti, jasa                service, and trading and service.
       informasi, serta perdagangan dan jasa.

       Kelompok Usaha dan Domisili                                   Business Group and Domicile

       PT Sinar Mas Cakrawala merupakan                              PT Sinar Mas Cakrawala is the immediate
       pemegang saham dari Perusahaan sebesar                        holding company of the Company at 51.68%
       51,68% pada 31 Desember 2023. Perusahaan                      as at December 31, 2023. The Company and
       dan entitas anak (selanjutnya disebut Grup)                   its subsidiaries (the Group) are part of the
       tergabung dalam kelompok usaha (Grup) Sinar                   Sinar Mas Group. The ultimate shareholder of
       Mas. Pemegang saham akhir Perusahaan                          the Company is Indra Widjaja.
       adalah Indra Widjaja.




                                                         - 14 -
Page 337
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


        Perusahaan berdomisili di Jakarta. Kantor                    The Company is domiciled in Jakarta. The
        Pusat Perusahaan beralamat di Menara Tekno                   Company’s head office is located at Menara
        Lantai 7, Jalan K.H. Fachruddin No. 19,                      Tekno 7th Floor, Jl. K.H. Fachruddin No. 19,
        Jakarta, Indonesia.                                          Jakarta, Indonesia.

   b.   Penawaran Umum Efek Perusahaan                          b.   Public Offering of the Company’s Securities

        Penawaran Umum Saham Perusahaan                              Public Offering of The Company’s Shares

        Pada tanggal 14 Juni 1995, Perusahaan                        On June 14, 1995, the Company received an
        memperoleh pernyataan efektif dari Ketua                     Effective Statement from the Chairman of
        Badan Pengawas Pasar Modal (Bapepam -                        the Capital Market Supervisory Agency
        LK) atau sekarang Otorisasi Jasa Keuangan                    (Bapepam - LK) or currently Financial Services
        (OJK) dalam Surat Keputusan No. S-                           Authority (OJK) in his Decision Letter No. S-
        759/PM/1995 untuk menjual sahamnya                           759/PM/1995 to sell its share totaling of
        sejumlah 60.000.000 saham yang bernilai                      60,000,000 shares with a par value of Rp500
        nominal Rp500 (dalam Rupiah penuh) per                       (in full Rupiah) per share to the public with an
        saham dengan harga pelaksanaan sebesar                       exercise price of Rp1,800 (in full Rupiah) per
        Rp1.800 (dalam Rupiah penuh) per saham                       share through the stock exchange in
        kepada masyarakat melalui bursa di                           Indonesia. The sale of these share was listed
        Indonesia. Penjualan saham ini dicatatkan di                 in the Indonesia Stock Exchange on July 5,
        Bursa Efek Indonesia pada tanggal 5 Juli                     1995.
        1995.

        Pada tanggal 8 November 1996, pemegang                       On November 8, 1996, the stockholders held
        saham      mengadakan        RUPSLB  untuk                   an EGSM to ratify the plan of the Company to
        mengesahkan rencana Perusahaan untuk                         conduct a Limited Public Offering I for the
        melaksanakan Penawaran Umum Terbatas I                       issuance of pre-empitive rights to purchase a
        dalam rangka penerbitan Hak Memesan Efek                     total of 663,000,000 shares with a par value of
        Terlebih Dahulu untuk membeli sejumlah                       Rp500 (in full Rupiah) per share at an exercise
        663.000.000 saham yang bernilai nominal                      price of Rp750 (in Rupiah full) per share, which
        Rp500 (dalam Rupiah penuh) per saham                         included 99,450,000 Series I warrants, free of
        dengan harga pelaksanaan sebesar Rp750                       charge. And convertible into shares from May
        (dalam Rupiah penuh) per saham, dimana                       28, 1997 to November 28, 2001. The minutes
        melekat 99.450.000 waran Seri I yang                         of this EGSM were documented in Notarial
        diterbitkan secara cuma-cuma dan dapat                       Deed No. 40 dated November 8, 1996 of
        dikonversi menjadi saham mulai tanggal 28                    Sutjipto, S.H., public notary in Jakarta.
        Mei 1997 sampai dengan tanggal 28
        November 2001. Risalah RUPSLB ini
        didokumentasikan        dalam   Akta No.40
        tertanggal 8 November 1996 dari Sutjipto,
        S.H., notaris di Jakarta.

        Penawaran Umum Terbatas I ini telah                          The Limited Public Offering I obtained effective
        mendapat pernyataan efektif dari Ketua                       statements from the Chairman of Bapepam
        Bapepam (sekarang OJK) pada tanggal                          (currently OJK) of the Notice of Effectivity in
        8 November 1996 melalui Surat Keputusan                      his Decision Letter No. S-1811/PM/1996 dated
        No. S-1811/PM/1996. Jumlah dana yang                         November 8, 1996. The proceeds from this
        diperoleh dari hasil Penawaran Umum                          Limited Public Offering I amounting to
        Terbatas I ini adalah sebesar Rp497.250 dan                  Rp497,250 were received by the Company in
        seluruhnya telah diperoleh Perusahaan pada                   January 1997. This Limited Public Offering I
        bulan Januari 1997. Hasil dari Penawaran                     increased the Company’s paid-up capital stock
        Umum Terbatas I ini meningkatkan modal                       from Rp331,500 to Rp663,000 and additional
        disetor Perusahaan dari Rp331.500 menjadi                    paid-in capital from Rp1,500 to Rp167,250.
        Rp663.000 dan tambahan modal disetor
        Perusahaan dari Rp1.500 menjadi Rp167.250.




                                                       - 15 -
Page 338
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


       Pada tanggal 24 Juni 2003, pemegang saham                    On June 24, 2003, the stockholders held an
       mengadakan RUPSLB untuk mengesahkan                          EGSM to ratify the plan of the Company to
       rencana Perusahaan untuk melaksanakan                        conduct a Limited Public Offering II for the
       Penawaran Umum Terbatas II dalam rangka                      issuance of Preemptive Rights to purchase a
       penerbitan Hak Memesan Efek Terlebih                         total of 2,137,115,520 Series B shares with a
       Dahulu        untuk      membeli     sejumlah                par value of Rp100 (in full Rupiah) per share at
       2.137.115.520 saham Seri B yang bernilai                     an exercise price of Rp100 (in full Rupiah
       nominal Rp100 (dalam Rupiah penuh) per                       amount) per share, in which every 15 Series B
       saham dengan harga pelaksanaan Rp100                         shares are attached to 4 Series II warrants
       (dalam Rupiah penuh) per saham, dimana                       provided by the Company free of charge. The
       pada setiap 15 saham Seri B melekat 4 waran                  total number of Series II warrants issued is
       Seri II yang diberikan oleh Perusahaan secara                569,897,472 warrants. The Series II warrants
       cuma-cuma. Jumlah waran Seri II yang                         can be converted into shares from January 23,
       diterbitkan adalah sebanyak 569.897.472                      2004 to July 23, 2008. The minutes of this
       waran. Waran Seri II tersebut dapat dikonversi               Extraordinary Stockholders Meeting were
       menjadi saham mulai tanggal 23 Januari 2004                  documented in Notarial Deed No. 153 dated
       sampai dengan 23 Juli 2008. Risalah Rapat                    June 24, 2003 of Aulia Taufani, S.H.,
       Umum Pemegang Saham Luar Biasa ini                           substitute notary of Sutjipto, S.H., public notary
       didokumentasikan dalam Akta No. 153                          in Jakarta.
       tertanggal 24 Juni 2003 dari Aulia Taufani,
       S.H., notaris pengganti dari Sutjipto, S.H.,
       notaris di Jakarta.

       Penawaran Umum Terbatas II ini telah                         The Limited Public Offering II obtained
       mendapat pernyataan efektif dari Ketua                       effective statements from the Chairman of
       Bapepam (sekarang OJK) pada tanggal 23                       Bapepam (currently OJK) on June 23, 2003,
       Juni 2003 melalui Surat Keputusan No. S-                     through Decision Letter No. S-1485/PM/2003.
       1485/PM/2003. Jumlah dana yang diperoleh                     The proceeds from this Limited Public Offering
       dari hasil Penawaran Umum Terbatas II ini                    II amounting to Rp213,711 were received by
       adalah sebesar Rp213.711 dan seluruhnya                      the Company in July 2003. The proceeds from
       telah diperoleh Perusahaan pada bulan Juli                   Limited Public Offering II increased the
       2003. Hasil dari Penawaran Umum Terbatas II                  Company’s paid-up capital stock from
       ini meningkatkan modal disetor Perusahaan                    Rp712,372 to Rp926,083. The funds obtained
       dari Rp712.372 menjadi Rp926.083. Dana                       from the Limited Public Offering II were utilized
       yang diperoleh dari hasil Penawaran Umum                     as investments in subsidiary entities and for
       Terbatas II ini digunakan sebagai setoran                    the settlement of the Company’s liabilities or
       modal pada anak-entitas anak serta untuk                     loans in order to increase the Company’s
       membayar liabilitas atau pinjaman Perusahaan                 working capital ratio.
       dalam rangka meningkatkan rasio modal kerja
       Perusahaan.

       Pada tanggal 28 Juni 2005, pemegang saham                    On June 28, 2005, the stockholders held an
       mengadakan RUPSLB untuk mengesahkan                          EGSM to ratify the plan of the Company to
       rencana Perusahaan untuk melaksanakan                        conduct a Limited Public Offering III for the
       Penawaran Umum Terbatas III dalam rangka                     issuance of Preemptive Rights to purchase, at
       penerbitan Hak Memesan Efek Terlebih                         the most, 991,621,601 Series B shares with a
       Dahulu untuk membeli saham Seri B                            par value of Rp100 (in full Rupiah) per share at
       sebanyak-banyaknya 991.621.601 saham                         an exercise price of Rp125 (in full Rupiah) per
       yang bernilai nominal Rp100 (dalam Rupiah                    share, wherein up to 991,621,601 Series III
       penuh) per saham dengan harga pelaksanaan                    warrants were attached, provided by the
       sebesar Rp125 (dalam Rupiah penuh) per                       Company free of charge. The Series III
       saham, dimana melekat sebanyak-banyaknya                     warrants can be converted into shares from
       991.621.601 waran Seri III yang diberikan oleh               January 12, 2006 to July 13, 2010. The
       Perusahaan secara cuma-cuma. Waran Seri III                  minutes of this Extraordinary Stockholders
       tersebut dapat dikonversi menjadi saham                      Meeting were documented in Notarial Deed
       mulai tanggal 12 Januari 2006 sampai dengan                  No. 274 dated June 28, 2005 of Aulia Taufani,
       13 Juli 2010. Risalah RUPSLB ini                             S.H., substitute notary of Sutjipto, S.H., public
       didokumentasikan dalam Akta No. 274                          notary in Jakarta.
       tertanggal 28 Juni 2005 dari Aulia Taufani,
       S.H., notaris pengganti dari Sutjipto, S.H.,
       notaris di Jakarta.




                                                        - 16 -
Page 339
PT SINAR MAS MULTIARTHA TBK                                                 PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                          AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                          For the Years Ended
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                         (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                             unless otherwise stated)


       Penawaran Umum Terbatas III ini telah                      The Limited Public Offering III obtained
       mendapat pernyataan efektif dari Ketua                     effective statements from the Chairman of
       Bapepam (sekarang OJK) pada tanggal 27                     Bapepam (currently OJK) on June 27, 2005,
       Juni 2005 melalui Surat Keputusan No. S-                   through Decision Letter No. S-1691/PM/2005.
       1691/PM/2005. Jumlah saham seri B yang                     The total number of Series B shares issued
       diterbitkan dari Penawaran Umum Terbatas III               from this Limited Public Offering II is
       ini adalah sejumlah 991.325.341 saham,                     991,325,341, which includes 991,325,341
       dimana melekat 991.325.341 waran seri III.                 Series III warrants. The total funds obtained
       Jumlah dana yang diperoleh dari hasil                      from this Limited Public Offering III amounting
       Penawaran Umum Terbatas III ini adalah                     to Rp123,916.
       sebesar Rp123.916.

       Dana yang diperoleh dari hasil Penawaran                   The funds obtained from the Limited Public
       Umum Terbatas III ini digunakan sebagai                    Offering III were used as capital injections into
       setoran modal pada entitas anak serta untuk                subsidiary entities and for the working capital
       modal kerja Perusahaan.                                    of the Company.

       Pada tanggal 17 Juni 2008, pemegang saham                  On June 17, 2008, the stockholders held an
       mengadakan RUPSLB untuk mengesahkan                        EGSM to ratify the plan of the Company to
       rencana Perusahaan untuk melaksanakan                      conduct a Limited Public Offering IV for the
       Penawaran Umum Terbatas IV dalam rangka                    issuance of Preemptive Rights to purchase, at
       penerbitan Hak Memesan Efek Terlebih                       the most, 966,427,608 Series B shares with a
       Dahulu untuk membeli saham Seri B                          par value of Rp100 (in full Rupiah) per share at
       sebanyak-banyaknya 966.427.608 saham                       an exercise price of Rp100 (in full Rupiah
       yang bernilai nominal Rp100 (dalam Rupiah                  amount)     per    share,     wherein up      to
       penuh) per saham dengan harga pelaksanaan                  1,449,641,412 Series IV warrants were
       sebesar Rp100 (dalam Rupiah penuh) per                     attached, provided by the Company free of
       saham, dimana melekat sebanyak-banyaknya                   charge. The Series IV warrants can be
       1.449.641.412 waran Seri IV yang diberikan                 converted into shares from January 6, 2009 to
       oleh Perusahaan secara cuma-cuma. Waran                    July 9, 2013. The minutes of this Extraordinary
       Seri IV tersebut dapat dikonversi menjadi                  Stockholders Meeting were documented in
       saham mulai tanggal 6 Januari 2009 sampai                  Notarial Deed No. 141 dated June 17, 2008 of
       dengan 9 Juli 2013. Risalah Rapat Umum                     Sutjipto, S.H., public notary in Jakarta.
       Pemegang        Saham   Luar   Biasa     ini
       didokumentasikan dalam Akta No. 141
       tertanggal 17 Juni 2008 dari Sutjipto, S.H.,
       notaris di Jakarta.

       Penawaran Umum Terbatas IV ini telah                       The Limited Public Offering IV obtained
       mendapat pernyataan efektif dari Ketua                     effective statements from the Chairman of
       Bapepam dan Lembaga Keuangan (LK)                          Bapepam (currently OJK) on June 16, 2008,
       (sekarang OJK) pada tanggal 16 Juni 2008                   through Decision Letter No. S-3859/BL/2008.
       melalui Surat Keputusan No. S-3859/BL/2008.                The total number of Series B shares issued
       Jumlah saham Seri B yang diterbitkan dari                  from this Limited Public Offering IV is
       Penawaran Umum Terbatas IV ini adalah                      964,528,953, which includes 1,446,793,426
       sejumlah 964.528.953 saham, dimana melekat                 Series IV warrants. The total funds obtained
       1.446.793.426 waran Seri IV. Jumlah dana                   from this Limited Public Offering IV amounting
       yang diperoleh dari hasil Penawaran Umum                   to Rp96,453.
       Terbatas IV ini adalah sebesar Rp96.453.

       Dana yang diperoleh dari hasil Penawaran                   The funds from the Limited Public Offering IV
       Umum Terbatas IV ini digunakan sebagai                     were used as capital injections into subsidiary
       setoran modal pada entitas anak serta untuk                entities and to settle its obligations or loans in
       membayar liabilitas atau pinjaman Perusahaan               order to increase the Company’s working
       dalam rangka meningkatkan rasio modal kerja                capital ratio.
       Perusahaan.




                                                      - 17 -
Page 340
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       Berdasarkan Akta No. 51 tanggal 20                            In accordance with the Notarial Deed No. 51
       November 2015 dari Aryanti Artisari, S.H.,                    dated November 20, 2015 of Aryanti Artisari,
       M.Kn., notaris di Jakarta, tentang Berita Acara               S.H., M.Kn., public notary in Jakarta, regarding
       RUPSLB, pemegang saham Perusahaan                             the minutes of the EGSM, the Company’s
       menyetujui untuk menerbitkan 623.780.871                      stockholders approved the issuance of
       saham baru seri B yang berasal dari saham                     623,780,871 new series B shares from the
       portepel Perusahaan dengan nilai nominal                      Company’s unissued stock with par value of
       Rp100 (dalam Rupah Penuh) melalui                             Rp100 per share (in full Rupiah) by Capital
       Penambahan Modal Tanpa Hak Memesan                            Increase Without Pre-emptive Rights (CIWPR).
       Efek Terlebih Dahulu (PMTHMETD).

       Pada tanggal 16 Agustus 2016, Perusahaan                      On August 16, 2016, the Company Carry out
       melaksanakan PMTHMETD untuk saham baru                        CIWPR for new 10,000,000 series B shares
       seri B sebanyak 10.000.000 saham dengan                       with the amount of proceeds obtained from
       jumlah dana yang diperoleh dari pemegang                      Shareholders in relation to this CIWPR
       saham dalam pelaksanaan PMTHMETD                              amounting to Rp50,060 (Note 35).
       adalah sebesar Rp50.060 (Catatan 35).

       Pada tanggal 2 Juni 2017, Perusahaan                          On June 2, 2017, the Company carry out the
       melaksanakan konversi (PMTHMETD) untuk                        conversion    of   CIWPR      for   converting
       saham baru seri B yang telah ditukar menjadi                  129,856,000 Series B shares, in thereby the
       saham    sebanyak    129.856.000     saham,                   total number of shares (Shares A and Shares
       sehingga jumlah saham seluruhnya (Seri A                      B) is 6,367,664,717 shares (Note 35).
       dan Seri B) adalah sebanyak 6.367.664.717
       saham (Catatan 35).

       Penawaran Umum Obligasi Perusahaan                            Public Offering of The Company’s Bonds

       Pada tanggal 31 Agustus 2020, Perusahaan                      On August 31, 2020, the Company obtained
       memperoleh Pernyataan Efektif dari Kepala                     an Effective Statement from the Chairman of
       Eksekutif Pengawas Pasar Modal Otoritas                       the Capital Market Financial Services Authority
       Jasa Keuangan (OJK) melalui suratnya No. S-                   (OJK) in his Letter No. S-236/D.04/2020 to
       236/D.04/2020        untuk    melaksanakan                    carry out the Public Offering of Sinar Mas
       Penawaran Umum Berkelanjutan I Obligasi                       Multiartha Continuing Bond I Year 2020 with
       Sinar Mas Multiartha Tahun 2020 dengan                        maximum principal amount of Rp1,000,000.
       jumlah pokok obligasi sebanyak-banyaknya                      PT Bank Bukopin Tbk acted as the trustee.
       Rp1.000.000. PT Bank Bukopin Tbk bertindak
       sebagai wali amanat.
       1. Penarikan Tahap I Tahun 2020 sebesar                       1.   The Phase I Year 2020 withdrawal
           Rp125.000 diterbitkan dalam 3 seri                             amounting to Rp125,000 is issued in 3
           penarikan yaitu:                                               series as follows:
           a. Obligasi Seri A sebesar Rp55.000                            a. Series A Bonds amounting to
                pada tanggal 8 September 2020 dan                              Rp55,000 on September 8, 2020 and
                jatuh tempo 13 September 2021                                  matures on September 13, 2021 with
                dengan tingkat bunga tetap sebesar                             fixed interest rate of 8.00% per
                8,00% per tahun yang terhutang                                 annum which is payable on a
                setiap triwulan (Pada tahun 2021,                              quarterly basis (the Company has
                Perusahaan telah melunasi Obligasi                             repaid the Bonds in 2021).
                tersebut).
           b. Obligasi Seri B sebesar Rp55.000                            b.   Series B Bonds amounting to
                pada tanggal 8 September 2020 dan                              Rp55,000 on September 8, 2020 and
                jatuh tempo 8 September 2022                                   matures on September 8, 2022 with
                dengan tingkat bunga tetap sebesar                             fixed interest rate of 8.50% per
                8,50% per tahun yang terhutang                                 annum which is payable on a
                setiap triwulan (Pada tahun 2022,                              quarterly basis (the Company has
                Perusahaan telah melunasi Obligasi                             repaid the Bonds in 2022).
                tersebut).




                                                         - 18 -
Page 341
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


            c.   Obligasi Seri C sebesar Rp15.000                       c.   Series C Bonds amounting to
                 pada tanggal 8 September 2020 dan                           Rp15,000 on September 8, 2020 and
                 jatuh tempo 8 September 2023                                matures on September 8, 2023 with
                 dengan tingkat bunga tetap sebesar                          fixed interest rate of 9.00% per
                 9,00% per tahun yang terhutang                              annum which is payable on a
                 setiap triwulan (Pada tahun 2023,                           quarterly basis (the Company has
                 Perusahaan telah melunasi Obligasi                          repaid the Bonds in 2023).
                 tersebut).

            Pada tanggal 2 Oktober 2020, sesuai                        On October 2, 2020, based on Notarial
            dengan Akta No. 3 dari Aulia Taufani,                      Deed No. 3 of Aulia Taufani, SH., notary in
            S.H., notaris di Jakarta, Perusahaan                       Jakarta, the Company issued Sinar Mas
            menerbitkan Obligasi Berkelanjutan I                       Multiartha Tbk Continuing Bond I Phase II
            Sinar Mas Multiartha Tbk Tahap II Tahun                    Year 2020.
            2020.

       2.   Penarikan Tahap II Tahun 2020 sebesar                 2.   The Phase II Year 2020 withdrawal
            Rp875.000 diterbitkan dalam 2 seri                         amounting to Rp875,000 is issued in 2
            penarikan yaitu:                                           series as follows:
            a. Obligasi Seri A sebesar Rp1.000                          a. Series A Bonds amounting to
                pada tanggal 11 November 2020 dan                            Rp1,000 on November 11, 2020 and
                jatuh tempo 11 November 2023                                 matures on November 11, 2023 with
                dengan tingkat bunga tetap sebesar                           fixed interest rate of 9.00% per
                9,00% per tahun yang terhutang                               annum which is payable on a
                setiap triwulan (Pada tahun 2023,                            quarterly basis (the Company has
                Perusahaan telah melunasi Obligasi                           repaid the Bonds in 2023).
                tersebut).
            b. Obligasi Seri B sebesar Rp874.000                        b.   Series B Bonds amounting to
                pada tanggal 11 November 2020 dan                            Rp874,000 on November 11, 2020
                jatuh tempo 11 November 2025                                 and matures on November 11, 2025
                dengan tingkat bunga tetap sebesar                           with fixed interest rate of 10.25% per
                10,25% per tahun yang terhutang                              annum which is payable on a
                setiap triwulan.                                             quarterly basis.

            Pada     tanggal    27   Agustus   2021,                    On August 27, 2021, the Company
            Perusahaan memperoleh Pernyataan                            obtained an Effective Statement from the
            Efektif dari Kepala Eksekutif Pengawas                      Chairman of the Capital Market Financial
            Pasar Modal Otoritas Jasa Keuangan                          Services Authority OJK in his Letter No.S-
            (OJK)      melalui     suratnya    No.S-                    146/D.04/2021 to carry out the Public
            146/D.04/2021      untuk    melaksanakan                    Offering of Sinar Mas Multiartha
            Penawaran Umum Berkelanjutan II                             Continuing Bond II Year 2021 with
            Obligasi Sinar Mas Multiartha Tahun 2021                    maximum         principal  amount       of
            dengan jumlah pokok obligasi sebanyak-                      Rp5,000,000. PT Bank Bukopin Tbk acted
            banyaknya Rp5.000.000. Dimana PT                            as the trustee.
            Bank Bukopin Tbk bertindak sebagai wali
            amanat.

            Penarikan Tahap I Tahun 2021 sebesar                        The Phase I Year 2021 withdrawal
            Rp705.700 diterbitkan dalam 3 seri                          amounting to Rp705,700 is issued in 3
            dengan ketentuan sebagai berikut:                           series as follows:
            a. Obligasi Seri A sebesar Rp507.000                        a. Series A Bonds amounting to
                pada tanggal 7 September 2021 dan                            Rp507,000 on September 7, 2021
                jatuh tempo 17 September 2022                                and matures on September 17, 2022
                dengan tingkat bunga tetap sebesar                           with fixed interest rate 6.75% per
                6,75% per tahun yang terhutang                               annum which is payable on a
                setiap triwulan (Pada tahun 2022,                            quarterly basis (the Company has
                Perusahaan telah melunasi Obligasi                           repaid the Bonds in 2022).
                tersebut).




                                                       - 19 -
Page 342
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


           b.   Obligasi Seri B sebesar Rp79.700                        b.   Series B Bonds amounting to
                pada tanggal 7 September 2021 dan                            Rp79,700 on September 7, 2021 and
                jatuh tempo 7 September 2023                                 matures on September 7, 2023 with
                dengan tingkat bunga tetap sebesar                           fixed interest rate 8.00% per annum
                8,00% per tahun yang terhutang                               which is payable on a quarterly basis
                setiap triwulan (Pada tahun 2023,                            (the Company has repaid the Bonds
                Perusahaan telah melunasi Obligasi                           in 2023).
                tersebut).
           c.   Obligasi Seri C sebesar Rp119.000                       c.   Series C Bonds amounting to
                pada tanggal 7 September 2021 dan                            Rp119,000 on September 7, 2021
                jatuh tempo 7 September 2024                                 and matures on September 7, 2024
                dengan tingkat bunga tetap sebesar                           with fixed interest rate 8.75% per
                8,75% per tahun yang terhutang                               annum which is payable on a
                setiap triwulan.                                             quaarterly basis.

           Berdasarkan surat PT Kredit Rating                           Based on the letter of PT Kredit Rating
           Indonesia No. RC-006/KRI-DIR/VI/2021                         Indonesia No. RC-006/KRI-DIR/VI/2021
           tanggal     2    Juni   2021, Obligasi                       dated June 2, 2021, the Company’s Sinar
           Berkelanjutan II Sinar Mas Multiartha                        Mas Multiartha Continuing Bonds II Year
           Tahun 2021 Perusahaan memperoleh                             2021 is rated irAA (Double A).
           peringkat irAA (Double A).

           Pada tanggal 2 Agustus 2022, sesuai                          On August 2, 2022, according to Deed
           dengan Akta No. 3 dari Aulia Taufani,                        No. 3 of Aulia Taufani, S.H., notary in
           S.H., notaris di Jakarta, Perusahaan                         Jakarta, the Company issued Sinar Mas
           menerbitkan Obligasi Berkelanjutan II                        Multiartha Continuing Bonds II Phase II
           Sinar Mas Multiartha Tahap II Tahun                          Year 2022.
           2022.

           Penarikan Tahap II Tahun 2022 sebesar                       The Phase II Year 2022 withdrawal
           Rp1.849.581 yang diterbitkan dalam 4 seri                   amounting to Rp1,849,581 is issued in 4
           dengan ketentuan sebagai berikut:                           series with the following conditions:
           a. Obligasi Seri A sebesar Rp429.350                        a. Series A Bonds amounting to
               pada tanggal 26 Agustus 2022 dan                             Rp429,350 on August 26, 2022 and
               jatuh tempo 6 September 2023                                 matured on September 6, 2023 with a
               dengan tingkat bunga tetap sebesar                           fixed interest rate of 6.75% per
               6,75% per tahun yang terhutang                               annum which is payable on a
               setiap triwulan (Pada tahun 2023,                            quarterly basis (the Company has
               Perusahaan telah melunasi Obligasi                           repaid the Bonds in 2023).
               tersebut).
           b. Obligasi Seri B sebesar Rp13.100                          b.   Series B Bonds amounting to
               pada tanggal 26 Agustus 2022 dan                              Rp13,100 on August 26, 2022 and
               jatuh tempo 26 Agustus 2024 dengan                            mature on August 26, 2024 with a
               tingkat bunga tetap sebesar 8,00%                             fixed interest rate of 8.00% per
               per tahun yang terhutang setiap                               annum which is payable on a
               triwulan.                                                     quarterly basis.
           c. Obligasi Seri C sebesar Rp305.131                         c.   Series C Bonds amounting to
               pada tanggal 26 Agustus 2022 dan                              Rp305,131 on August 26, 2022 and
               jatuh tempo 26 Agustus 2025 dengan                            mature on August 26, 2025 with a
               tingkat bunga tetap sebesar 9,00%                             fixed interest rate of 9.00% per
               per tahun yang terhutang setiap                               annum which is payable on a
               triwulan.                                                     quarterly basis.
           d. Obligasi Seri D sebesar Rp1.102.000                       d.   Series D Bonds amounting to
               pada tanggal 26 Agustus 2022 dan                              Rp1,102,000 on August 26, 2022 and
               jatuh tempo 26 Agustus 2027 dengan                            mature on August 26, 2027 with a
               tingkat bunga tetap sebesar 9,75%                             fixed interest rate of 9.75% per
               per tahun yang terhutang setiap                               annum which is payable on a
               triwulan.                                                     quarterly basis.




                                                       - 20 -
Page 343
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       Berdasarkan surat PT Kredit Rating Indonesia                   Based on PT Kredit Rating Indonesia's letter
       No. RTG-001/KRI-DIR/VII/2022 tanggal 14 Juli                   No. RTG-001/KRI-DIR/VII/2022 dated July 14,
       2022 yang juga merupakan bagian dari surat                     2022 which is also part of letter No. RC-
       No. RC-004/KRI-DIR/VI/2022 tanggal 24 Juni                     004/KRI-DIR/VI/2022 dated June 24, 2022, the
       2022, Obligasi Berkelanjutan II Sinar Mas                      Company's Sinar Mas Multiartha Continuing
       Multiartha   Tahun      2022     Perusahaan                    Bonds II Year 2022 received an irAA (Double
       memperoleh peringkat irAA (Double A).                          A) rating.

       Pada tanggal 16 September 2022, sesuai                         On September 16, 2022, according to Deed
       dengan Akta No. 29 dari Aulia Taufani, S.H.,                   No. 29 of Aulia Taufani, S.H., notary in
       notaris di Jakarta, Perusahaan menerbitkan                     Jakarta, the Company issued Sinar Mas
       Obligasi Berkelanjutan II Sinar Mas Multiartha                 Multiartha Continuing Bonds II Phase III Year
       Tahap III Tahun 2022.                                          2022.

       Penarikan Tahap III Tahun 2022 sebesar                         The Phase III Year 2022 withdrawal amounting
       Rp1.660.000 yang diterbitkan dalam 2 seri                      to Rp1,660,000 is issued in 2 series with the
       dengan ketentuan sebagai berikut:                              following conditions:
       a. Obligasi Seri A sebesar Rp580.000 pada                      a. Series A Bonds amounting to Rp580,000
           tanggal 4 Oktober 2022 dan jatuh tempo 4                        on October 4, 2022 and mature on
           Oktober 2027 dengan tingkat bunga tetap                         October 4, 2027 with a fixed interest rate
           sebesar 9,75% per tahun yang terhutang                          of 6.75% per annum which is payable on
           setiap triwulan.                                                a quarter basis.
       b. Obligasi Seri B sebesar Rp1.080.000                          b. Series       B     Bonds    amounting    to
           pada tanggal 4 Oktober 2022 dan jatuh                            Rp1,080,000 on October 4, 2022 and
           tempo 4 Oktober 2032 dengan tingkat                              mature on October 4, 2032 with a fixed
           bunga tetap sebesar 10,50% per tahun                             interest rate of 10,50% per annum which
           yang terhutang setiap triwulan.                                  is payable on a quarter basis.

       Berdasarkan surat PT Kredit Rating Indonesia                   Based on PT Kredit Rating Indonesia's letter
       No.     RTG-001/KRI-DIR/IX/2022        tanggal                 No.      RTG-001/KRI-DIR/IX/2022       dated
       8 September 2022 yang juga merupakan                           September 8, 2022 which is also part of letter
       bagian dari surat No. RC-004/KRI-DIR/VI/2022                   No.      RC-004/KRI-DIR/VI/2022        dated
       tanggal 24 Juni 2022, Obligasi Berkelanjutan II                June 24, 2022, Sinar Mas Multiartha
       Sinar Mas Multiartha Tahun 2021 Perusahaan                     Continuing Bonds II Year 2021 received an
       memperoleh peringkat irAA (Double A).                          irAA (Double A) rating.

       Pada tanggal 15 Februari 2023, sesuai dengan                   On February 15, 2023, according to Deed No.
       Akta No. 29 dari Aulia Taufani, S.H., notaris di               29 of Aulia Taufani, S.H., notary in Jakarta, the
       Jakarta, Perusahaan menerbitkan Obligasi                       Company issued Sinar Mas Multiartha
       Berkelanjutan II Sinar Mas Multiartha Tahap IV                 Continuing Bonds II Phase IV Year 2023.
       Tahun 2023.

       Penarikan Tahap IV Tahun 2023 sebesar                          The Phase IV Year 2023 withdrawal
       Rp784.719 yang diterbitkan pada tanggal                        amounting to Rp784,719 which was issued on
       7 Maret 2023 dan jatuh tempo 7 Maret 2033                      March 7, 2023 and falls due on March 7, 2033
       dengan tingkat bunga tetap sebesar 10,50%                      with a fixed interest rate of 10.50% per annum
       per tahun yang terhutang setiap triwulan.                      which is payable on a quarter basis.

       Berdasarkan surat PT Kredit Rating Indonesia                   Based on PT Kredit Rating Indonesia's letter
       No.      RTG-001/KRI-DIR/I/2023        tanggal                 No.      RTG-001/KRI-DIR/I/2023       dated
       25 Januari 2023 yang juga merupakan bagian                     January 25, 2023 which is also part of letter
       dari surat No. RC-004/KRI-DIR/VI/2022                          No. RC-004/KRI-DIR/VI/2022 dated June 24,
       tanggal 24 Juni 2022, Obligasi Berkelanjutan II                2022, the Company's Sinar Mas Multiartha
       Sinar Mas Multiartha Tahun 2021 Perusahaan                     Continuing Bonds II Year 2021 received an
       memperoleh peringkat irAA (Double A).                          irAA (Double A) rating.




                                                          - 21 -
Page 344
PT SINAR MAS MULTIARTHA TBK                                                                               PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                        AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                  Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                        For the Years Ended
31 Desember 2023 dan 2022                                                                                       December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                       (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                           unless otherwise stated)


       Seluruh obligasi Perusahaan dijual pada nilai                                                All of the Company's bonds are sold at nominal
       nominal dan tercatat di Bursa Efek Indonesia.                                                value and are listed on the Indonesia Stock
       Dana yang diperoleh dari utang obligasi                                                      Exchange.       Funds    obtained  from    the
       Perusahaan digunakan untuk modal kerja                                                       Company's bonds issued are used for working
       Perusahaan     dan     entitas  anak,    dan                                                 capital of the Company and its subsidiaries,
       peningkatan pernyertaan saham pada entitas                                                   and for increasing equity participation in
       anak. Perusahaan tidak menyelenggarakan                                                      subsidiaries. The Company does not maintain
       pencadangan dana untuk seluruh utang                                                         a reserve fund for all of the Company's bonds
       obligasi Perusahaan. Seluruh utang obligasi                                                  issued. All of the Company's bonds issued are
       Perusahaan tidak dijamin.                                                                    unsecured.

  c.   Entitas Anak yang Dikonsolidasikan                                                   c.      Consolidated Subsidiaries

       Berikut ini adalah entitas anak yang                                                         The following is a list of subsidiary entities
       dikonsolidasikan   beserta   persentase                                                      consolidated along with the Company’s
       kepemilikan Perusahaan pada tanggal 31                                                       ownership percentage as at December 31,
       Desember 2023 dan 2022:                                                                      2023 and 2022:
                                                                               Tahun        Persentase Kepemilikan
                                                                              Operasi           dan Hak Suara/                     Jumlah Aset
                                                                            Pendirian/      Percentage of Ownership            (Sebelum Eliminasi)/
                                                                              Year of          and Voting Rights         Total Asset (Before Elimination)
                                   Domisili/         Jenis Usaha/            Operation
                                   Domicile       Nature of Business       Establishment    2023             2022        2023                     2022

       Kepemilikan Langsung/
       Direct ownership
       PT Bank Sinarmas Tbk
          (BS)                         Jakarta             Bank/Banks              1989          59,99%         59,99%    52.193.606                  47.350.601
       PT Asuransi Sinar Mas
          (ASM)                        Jakarta      Asuransi kerugian/
                                                       Loss Insurance              1986          99,99%         99,99%    17.461.571                  16.684.454
       PT Sinar Mas Multifinance                         Pembiayaan/
          (SMF)                        Jakarta            Multifinance             1996          99,99%         99,99%      5.420.108                    6.652.625
       PT Sinarmas Sekuritas
          (SMS)                        Jakarta     Sekuritas/Securities            1992          99,99%         99,99%      1.752.975                    2.172.315
       PT AB Sinar Mas
          Multifinance                                   Pembiayaan/
          (ABSM)                       Jakarta            Multifinance             1995          99,99%         99,99%      1.491.451                    2.428.175
       PT Pasar Dana Pinjaman                         Layanan pinjam
          (PDP)                        Jakarta        meminjam uang
                                                    berbasis teknologi/
                                                  Technology based of
                                                          lending and
                                                    borrowing services             2017          99,99%         66,66%          623.201                     710.222
       PT Shinta Utama (SU)            Jakarta    Perdagangan umum/
                                                       General trading             1991          99,95%         99,95%      3.165.063                    2.650.495
       PT Jakarta Teknologi
          Utama (JTU)                  Jakarta      Bengkel/Workshop               1999          99,99%         99,99%          628.133                     621.123
       PT Rizki Lancar Sentosa
          (RLS)                        Jakarta        Properti/Property            2001          99,99%         99,99%          963.068                     892.440
       PT Sinarmas Ventura
          (SMV)                        Jakarta          Modal Ventura/
                                                        Venture capital            2019          99,99%         99,99%           41.517                      45.483
       PT Sinartama Gunita
          (STG)                        Jakarta   Biro administrasi efek/
                                                         Share register            1992          99,99%         99,99%          347.631                     269.141
       PT Dana Pinjaman Inklusif                       Layanan pinjam
          (DPI)                        Jakarta         meminjam uang
                                                    berbasis teknologi/
                                                     Technology based
                                                 lending and borrowing
                                                               services            2017          50,00%         50,00%           10.112                      16.629
       PT Arthamas Solusindo
          (AMS)                        Jakarta          Jasa informasi/
                                                   Information sevices             2000          99,99%         99,99%      1.835.175                    1.785.571
       Global Asian Investment
          Limited (GAI)            Hong Kong      Investasi/Investment             2012      100,00%           100,00%            1.113                       1.113
       PT Simas Money Changer                        Pedagang valuta
          (SMC)                        Jakarta                   asing/
                                                       Money charger               2003          99,90%         99,90%            6.258                       6.115
       PT Wapindo Jasaartha
          (WJA)                        Jakarta   Perdagangan dan jasa/
                                                   Trading and service             2000          99,96%         99,96%           11.322                       7.691
       PT Sinar Artha Konsulindo
          (SAK)                        Jakarta          Agen asuransi/
                                                     Insurance agency              2000          99,92%         99,92%            1.521                       1.459
       PT Arthamas Informatika                           Perdagangan
          (AMI)*                       Jakarta               dan jasa/
                                                   Trading and service             2000          99,92%         99,92%             840                         853
       PT Sinar Artha Solusindo
          (SAS)*                       Jakarta   Perdagangan dan jasa
                                                   Trading and service             2000          99,92%         99,92%             794                         805




                                                                                   - 22 -
Page 345
PT SINAR MAS MULTIARTHA TBK                                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                         unless otherwise stated)


                                                                             Tahun        Persentase Kepemilikan
                                                                            Operasi           dan Hak Suara/                     Jumlah Aset
                                                                          Pendirian/      Percentage of Ownership            (Sebelum Eliminasi)/
                                                                            Year of          and Voting Rights         Total Asset (Before Elimination)
                                  Domisili/         Jenis Usaha/           Operation
                                  Domicile       Nature of Business      Establishment    2023             2022        2023                     2022

       Kepemilikan Langsung/
       Direct ownership
       PT Artha Bina Usaha
          (ABU)*                      Jakarta   Perdagangan dan jasa
                                                  Trading and service            2008        92,00%           92,00%             145                         150
       PT Balai Lelang Sinarmas
          (BLS)*                      Jakarta          Lelang/Auction            2008        99,99%           99,99%           14.197                      11.379
       PT Sinar Artha Inforindo
          (SAI)*                      Jakarta          Jasa informasi/
                                                  Information sevices            2000        99,92%           99,92%             215                         223
       PT Sinar Artha Trading
          (SAT)*                      Jakarta    Perdagangan umum/
                                                      General trading            2008        99,99%           99,99%            1.102                       1.095
       PT Dana Saham Bersama                      Layanan urun dana
          (DSB)*                      Jakarta       berbasis teknologi
                                                            informasi/
                                                   Technology based
                                                          lending and
                                                    borrowing service            2019        99,99%           99,99%            2.750                       3.249
       PT Digital Solusindo                           Layanan pinjam
          Nusantara (DSN)*            Jakarta         meminjam uang
                                                   berbasis teknologi/
                                                   Technology based
                                                          lending and
                                                    borrowing service            2020        99,99%           99,99%            2.501                       2.494
       PT Pasar Gadai Digital
          (PGD)                       Jakarta   Pergadaian/Pawnshop              2022        99,97%           99,97%            2.367                       2.845

       Kepemilikan Tidak Langsung/
       Indirect ownership

       PT Bank Sinarmas Tbk (BS)
          (melalui/through PT Shinta
          Utama, PT Sinar Mas
          Multifinance dan
          PT Sinartama Gunita)        Jakarta            Bank/Banks              1989            8,73%         8,73%    52.193.606                  47.350.601
       PT Asuransi Simas Jiwa
          (ASJ) (melalui/through
          PT Asuransi                                  Asuransi jiwa/
          Sinar Mas)                  Jakarta          Life Insurance            1996        99,99%           99,99%    23.421.138                  28.883.520
       PT Reasuransi Nusantara
          Makmur (melalui/through`
          PT Asuransi                                    Reasuransi/
          Sinarmas)                   Jakarta            Reinsurance             2017        99,00%           99,00%      3.146.407                    3.071.044
       PT Sinarmas Asset
          Management (SAM)
          (melalui/through PT                       Manajemen aset/
          Sinarmas Sekuritas)         Jakarta     Asset management               2011        99,98%           99,98%          748.073                     691.866
       PT Asuransi Simas
          Insurtech (ASI)
          (melalui/through
          PT Sinar Mas
          Multifinance dan/and                       Asuransi on-line/
          PT Sinartama Gunita)        Jakarta       On-line insurance            2013        75,38%           75,38%      1.173.348                       920.252
       PT Sinarmas Futures (SF)
          (melalui/through
          PT Sinarmas                           Perdagangan komoditi/
          Sekuritas)                  Jakarta      Commodity trading             2004        75,00%           75,00%           33.386                      33.831
       PT Autopro Utama
          Perkasa (AUP)
          (melalui PT Jakarta
          Teknologi Utama)            Jakarta       Bengkel/Workhop              2006        99,88%           99,88%           60.894                      61.771
       Sinar Mas Insurance, S.A.
          (SMI) (melalui/through
          PT Asuransi                Republik
          Sinar Mas dan/and         Demokrasi      Asuransi kerugian/
          PT Shinta Utama)        Timor Leste         Loss insurance             2011        91,42%           91,42%          224.295                     206.985
       Sinar Mas Life
          Insurance, S.A. (SLI)
          (melalui/through Sinar
          Mas Insurance dan/         Republik
          and PT Asuransi           Demokrasi           Asuransi jiwa/
          Simas Jiwa)             Timor Leste           Life insurance           2021        90,00%           90,00%           62.792                      14.297
       PT Techno Mandiri
          Utama (TMU)
          (melalui/through
          PT Jakarta                             Perdagangan umum/
          Teknologi Utama)            Jakarta         General trading            2017       100,00%          100,00%            1.101                       1.052
       PT Techno Karya
          Utama (TKU)
          (melalui/through
          PT Jakarta                             Perdagangan umum/
          Teknologi Utama)            Jakarta         General trading            2017       100,00%          100,00%            3.747                       3.618
       PT Toko Onderdil (TO)
          (melalui/through
          PT Jakarta                             Perdagangan umum/
          Teknologi Utama)            Jakarta         General trading            2017        77,20%           77,20%            9.089                      11.282




                                                                                 - 23 -
Page 346
PT SINAR MAS MULTIARTHA TBK                                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                                 unless otherwise stated)


                                                                               Tahun           Persentase Kepemilikan
                                                                              Operasi              dan Hak Suara/                               Jumlah Aset
                                                                            Pendirian/         Percentage of Ownership                      (Sebelum Eliminasi)/
                                                                              Year of             and Voting Rights                   Total Asset (Before Elimination)
                                    Domisili/        Jenis Usaha/            Operation
                                    Domicile      Nature of Business       Establishment       2023               2022                2023                     2022

       PT Berkat Surya
          Mentari (BSM)
          (melalui/through
          PT Techno Karya
          Utama dan/and
          PT Auto Utama                           Perdagangan umum/
          Perkasa)                      Jakarta        General trading             2022            100,00%         100,00%                      842                         125
       PT Kebayoran Parama
          Propertindo (KPP)
          (melalui PT Rizki
          Lancar Sentosa)               Jakarta       Properti/Property            2011            100,00%         100,00%                   360.835                     338.957
       PT Citra Grahareksa
          Abadi (CGA)
          (melalui/through
          PT Rizki Lancar
          Sentosa)                      Jakarta   Perhutanan/Forestry              1990             75,00%          75,00%                    36.230                      36.837
       PT Data Opal Terpadu
          (DOT)* (melalui/through                 Aktivitas pengolahan
          PT Arthamas                             data/Data processing
          Solusindo)                    Jakarta               activities           2020             99,92%          99,92%                   842.306                     770.597
       PT Zimba Onix Mustika
          (ZOM)* (melalui/through
          PT Shinta Utama)              Jakarta       Properti/Property            2020             99,92%          99,92%                   858.912                     786.908
       PT Sistem Loka Triprima                                 Layanan
          (SLT)* (melalui/through       Jakarta      pinjam meminjam
          PT Shinta Utama)                            berbasis tekologi
                                                    Technology basedf
                                                           lending and
                                                     borrowing service             2020             99,92%          99,92%                   709.049                     361.816
       PT Sinarmas Penjaminan
          Kredit (SPK)
           (melalui/through                            Penjamin kredit/
          PT Asuransi sinarmas)         Jakarta        Credit guarantor            2020             99,99%          99,99%               4.111.067                    3.245.507
       PT Kreasi Retail Nusantara
          (KRN) (melalui/through
          PT Sinar Artha                          Perdagangan umum/
          Trading)                      Jakarta        General trading             2023            99,60%%                  -                   364                            -

       *) entitas anak yang belum beroperasi/
       *) Subsidiaries not yet operating

       Informasi keuangan entitas anak yang dimiliki                                                    Financial information of subsidiaries that have
       oleh kepentingan non-pengendali dalam                                                            material non-controlling interests as at and for
       jumlah material pada tanggal dan untuk tahun-                                                    the years ended December 31, 2023 and 2022
       tahun yang berakhir 31 Desember 2023 dan                                                         is as follows:
       2022 adalah sebagai berikut:
                                                                           31 Desember/December 31, 2023

                                                      Bagian
                                                   Kepentingan
                                                   Kepemilikan/                   Saldo
                                                       Equity                   Akumulasi/
                                                   Interest Held               Accumulated               Bagian laba/
                     Name                                %                       Balance                Share in Profit                           Name

       PT Bank Sinarmas Tbk (BS)                               33.56                   2.251.349                  33.075        PT Bank Sinarmas Tbk (BS)
       PT Pasar Dana Pinjaman (DPI)                            50.00                       4.739                  (2.588)       PT Pasar Dana Pinjaman (DPI)

                                                                           31 Desember/December 31, 2022

                                                      Bagian
                                                   Kepentingan
                                                   Kepemilikan/                   Saldo
                                                       Equity                   Akumulasi/
                                                   Interest Held               Accumulated               Bagian laba/
                     Name                                %                       Balance                Share in Profit                           Name

       PT Bank Sinarmas Tbk (BS)                               31.28                   2.159.692                 69.187         PT Bank Sinarmas Tbk (BS)
       PT Pasar Dana Pinjaman (DPI)                            50.00                       7.327                 (1.184)        PT Pasar Dana Pinjaman (DPI)




                                                                                   - 24 -
Page 347
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       Berikut adalah ringkasan informasi keuangan                   The summarized financial information of these
       dari entitas anak. Jumlah-jumlah tersebut                     subsidiaries    is  provided    below.    This
       sebelum dieliminasi dengan transaksi antar                    information is based on amounts before inter-
       entitas dalam Grup.                                           company eliminations in the group.

       Ringkasan laporan posisi keuangan pada                        Summarized statements of financial position
       tanggal 31 Desember 2023 dan 2022:                            as at December 31, 2023 and 2022:

                                           2023                                2022

                                 BS               DPI              BS                 DPI

       Total aset             52.634.993            10.112        47.350.601            16.629      Total Assets

       Total liabilitas dan                                                                         Total Liabilities and
         dana syirkah                                                                                 temporary
         temporer             44.808.226                1.240     40.065.593                1.976     syirkah funds

       Total Ekuitas           7.826.767                8.872      7.285.008            14.653      Total Equity




       Ringkasan informasi laporan rugi laba dan                     Summarized statements of profit or loss and
       penghasilan komprehensif lain untuk tahun                     other comprehensive income for the year
       31 Desember 2023 dan 2022:                                    December 31, 2023 and 2022:
                                           2023                                2022

                                 BS               DPI              BS                 DPI

       Pendapatan              3.554.259                8.245      3.298.457            16.517      Revenues
       Laba (rugi) sebelum
          pajak                  73.576             (5.177)         277.211             (2.355)     Profit before tax
       Total penghasilan
          (rugi)                                                                                    Total comprehensive income
          komprehensif          541.759             (5.201)         (74.408)                2.359     (loss)
       Teratibutasi pada
          kepentingan                                                                               Attributable to non-controlling
          non pengendali         33.075             (2.588)          69.187             (1.184)        interest

       Ringkasan informasi arus kas untuk tahun-                     Summarized cash flow information for the
       tahun yang berakhir 31 Desember 2023 dan                      years ended December 31, 2023 and 2022:
       2022:

                                           2023                                2022

                                 BS               DPI              BS                 DPI

       Operasi                 4.628.695            (6.686)       (4.999.465)          (16.314)     Operating
       Investasi               (188.267)             1.815          (119.425)             (293)     Investing
       Pendanaan               (111.120)               400          (397.299)              318      Financing

       Kenaikan
         (penurunan)                                                                                Net increase (decrease)
         bersih kas dan                                                                               in cash and cash
         setara kas            4.329.308            (5.270)       (4.721.591)          (16.289)       equivalents


       PT Pasar Dana Pinjaman (PDP)                                  PT Pasar Dana Pinjaman (PDP)

       PDP telah memperoleh ijin dari Otoritas Jasa                  PDP obtained an approval from Financial
       Keuangan untuk menjalankan usaha layanan                      Services Authority to engage in information
       pinjam meminjam uang berbasis teknologi                       technology based of lending and borrowing
       informasi melalui Surat OJK No. KEP-                          service based on Decision Letter of OJK No.
       49/D.05/2017 tanggal 6 Juli 2017.                             KEP-49/D.05/2017 dated July 6, 2017.

       Pada tanggal 29 Agustus 2023, Perusahaan                      On August 29, 2023, the Company increased
       menambah setoran modal pada PDP sebesar                       its investment in PDP amounting to
       Rp705.250.     meningkatkan    persentase                     Rp705,250, thus increased its ownership
       kepemilikan Perusahaan pada PDP dari                          interest in PDP from 66.66% to 99.99%.
       66,66% menjadi 99,99%.


                                                         - 25 -
Page 348
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


       PT Jakarta Teknologi Utama (JTU)                            PT Jakarta Teknologi Utama (JTU)

       Pada bulan November 2020, Perusahaan                        On November 2020, the Company increased
       menambah setoran modal pada JTU sebesar                     its investment in JTU amounting to Rp264,096,
       Rp264.096       sehingga      meningkatkan                  thus increased its ownership interest in PDP
       persentase kepemilikan Perusahaan pada JTU                  from 99.98% to 99.99%.
       dari 99,98% menjadi 99,99%.

       PT Autopro Utama Perkasa (AUP)                              PT Autopro Utama Perkasa (AUP)

       Pada bulan Oktober 2006, PT Autopro Utama                   In October 2006, PT Autopro Utama Perkasa,
       Perkasa berkedudukan di Sidoarjo dengan                     domiciled in Sidoarjo, running a workshop
       menjalankan    usaha   jasa    perbengkelan                 services business, had a company authorized
       memiliki modal dasar perseroan berjumlah                    capital of Rp15,000 of the authorized capital,
       Rp15.000 dari modal dasar tersebut 50% telah                50% has been placed by the founders, namely
       ditempatkan oleh para pendiri, yaitu JTU                    JTU amounting to Rp7,450 and PT Kalibesar
       sebesar Rp7.450 dan PT Kalibesar Raya                       Raya Utama amounting to Rp50.
       Utama sebesar Rp50.

       PT Techno Mandiri Utama (TMU)                               PT Techno Mandiri Utama (TMU)

       Pada bulan Oktober 2016, PT Techno Mandiri                  In October 2016, PT Techno Mandiri Utama,
       Utama berkedudukan di Tangerang Selatan                     domiciled in South Tangerang, operates in the
       yang bergerak di bidang perdagangan,                        fields of trade, industry, development, land
       industry, pembangunan, transportasi darat,                  transportation,  agriculture,  printing  and
       pertanian, percetakan dan perbengkelan,                     workshops, with the company's authorized
       memiliki modal dasar perseroan berjumlah                    capital amounting to Rp2,000. JTU has an
       Rp2.000. JTU memiliki persentase kepemilikan                ownership percentage of 99% amounting to
       sebesar 99% berjumlah Rp1.980 dan AUP                       Rp1,980 and AUP 1% amounting to Rp 20.
       sebesar 1% berjumlah Rp20.

       PT Techno Karya Utama (TKU)                                 PT Techno Karya Utama (TKU)

       Pada bulan Oktober 2016, PT Techno Karya                    In October 2016, PT Techno Karya Utama was
       Utama berkedudukan di Jakarta Timur yang                    domiciled in East Jakarta which operates in the
       bergerak di bidang perdagangan, industry,                   fields of trade, industry, development, land
       pembangunan, transportasi darat, pertanian,                 transportation,   agriculture,  printing   and
       percetakan dan perbengkelan. memiliki modal                 workshops. has authorized company capital of
       dasar perseroan berjumlah Rp1.000. JTU                      Rp1,000. JTU has an ownership percentage of
       sebesar memiliki persentase kepemilikan                     99% amounting to Rp990 and AUP 1%
       sebesar 99% berjumlah Rp990 dan AUP                         amounting to Rp10.
       sebesar 1% berjumlah Rp10.

       PT Bank Sinarmas Tbk (BS)                                   PT Bank Sinarmas Tbk (BS)

       BS telah memperoleh izin dari Menteri                       BS has obtained permission from the Minister
       Keuangan     Republik     Indonesia    untuk                of Finance of the Republic of Indonesia to
       menjalankan usaha di bidang perbankan                       engage in general banking business in his
       melalui   Surat   Keputusan     No.    KEP-                 Decision Letter No. KEP-156/KMK.013/1990
       156/KMK.013/1990 tanggal 16 Februari 1990.                  dated February 16, 1990. Pursuant to Bank
       Sesuai dengan Surat Keputusan Bank                          Indonesia’s Decree No. 27/156/KEP/DIR dated
       Indonesia No. 27/156/KEP/DIR tanggal 22                     March 22, 1995, BS was authorized to operate
       Maret 1995, BS memperoleh peningkatan                       as a Foreign Exchange Bank. BS obtained an
       status menjadi Bank Devisa. BS telah                        approval from the Bank Indonesia to open a
       memperoleh izin usaha unit usaha syariah dari               branch which was based on Sharia principles
       Bank Indonesia berdasarkan Surat Keputusan                  on Deputy Governor of Bank Indonesia
       Deputi Gubernur Bank Indonesia No.                          Decision letter No. 11/13/KEP.DpG/2009 dated
       11/13/KEP.DpG/2009 tanggal 27 Oktober                       October 27, 2009.
       2009.



                                                       - 26 -
Page 349
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


       Pada tanggal 29 November 2010, BS                           On November 29, 2010, BS obtained an
       mendapat pernyataan efektif dari Ketua                      Effective Statement from the Chairman of
       Bapepam dan LK (sekarang OJK) melalui                       Bapepam - LK (currently OJK) in his letter
       Surat Keputusan No. S-10683/BL/2010 atas                    No. S-10683/BL/2010 of its initial public
       penawaran umum perdana saham dan telah                      offering of shares and being a publicly listed
       menjadi Perusahaan terbuka.                                 Company.

       Selama tahun 2021, pemegang saham                           During 2021, non-controlling shareholders
       kepentingan nonpengendali (masyarakat) BS                   (public) in BS converted BS warrants into
       melakukan konversi atas waran BS menjadi                    shares, where the Company's ownership
       saham, dimana persentase kepemilikan                        percentage increased to 59.99%, while SU's
       Perusahaan meningkat menjadi 59,99%,                        ownership percentage was diluted to 3.10%,
       sedangkan persentase kepemilikan SU                         SMF's ownership percentage became 1.22%
       terdilusi   menjadi    3,10%,     persentase                and STG's percentage ownership increased to
       kepemilikan SMF menjadi 1,22% dan                           3.49% as at June 30, 2021. There was no
       persentase kepemilikan STG meningkat                        significant dilution effect on the ownership
       menjadi 3,49% pada tanggal 30 Juni 2021.                    interest recorded in other equity components
       Tidak terdapat dampak dilusi yang signifikan                under the equity section of the consolidated
       atas persentase kepemilikan yang dicatat pada               statement of financial position (Note 36). In
       komponen ekuitas lainnya pada bagian ekuitas                December 2021, SMF increased its ownership
       dalam laporan posisi keuangan konsolidasian                 in BS to 2.14%.
       (Catatan 36). Pada Desember 2021, SMF
       menambah kepemilikan BS menjadi 2,14%.

       PT Asuransi Simas Jiwa (ASJ)                                PT Asuransi Simas Jiwa (ASJ)

       ASJ telah memperoleh ijin usaha dari Menteri                ASJ has obtained permission from the Minister
       Keuangan    Republik      Indonesia   untuk                 of Finance of the Republic of Indonesia to
       menjalankan usaha asuransi berdasarkan                      engage in life insurance business based on its
       Surat Keputusan Menteri Keuangan No.                        Decision Letter No. 602/KMK.17/1995 dated
       602/KMK.17/1995 tanggal 18 Desember 1995.                   December 18, 1995.

       PT Asuransi Sinar Mas (ASM)                                 PT Asuransi Sinar Mas (ASM)

       ASM telah memperoleh izin dari Menteri                      ASM has obtained permission from the
       Keuangan     Republik   Indonesia   melalui                 Minister of Finance of the Republic of
       Direktorat Jenderal Moneter Dalam Negeri                    Indonesia through the Directorate General of
       untuk menyelenggarakan usaha asuransi                       Domestic Monetary Affairs to engage in loss
       kerugian berdasarkan Surat Keputusan No.                    insurance     under    Decree     No     KEP-
       KEP-2562/MD/1986 tanggal 21 April 1986.                     2562/MD/1986 dated April 21, 1986. ASM has
       ASM telah memperoleh izin dari Menteri                      obtained permission from the Minister of
       Keuangan Republik Indonesia untuk membuka                   Finance of the Republic of Indonesia to open a
       cabang dengan prinsip syariah berdasarkan                   branch which was based on Sharia principles
       Surat Keputusan Menteri Keuangan No.                        in his Decision Letter No. 253/KM.6/2004
       253/KM.6/2004 tanggal 25 Juni 2004.                         dated June 25, 2004.

       Pada tahun 2023 dan 2022, ASM telah                         In 2023 and 2022, ASM distributed dividends
       membagikan kas dividen masing-masing                        to shareholders based on ownership interest
       sebesar Rp49.950 dan Rp660.000 kepada                       amounting to Rp49,950 and Rp660.000,
       para pemegang saham sesuai dengan                           respectively.
       persentase kepemilikan.

       PT Sinar Mas Multifinance (SMF)                             PT Sinar Mas Multifinance (SMF)

       SMF telah memperoleh izin dari Menteri                      SMF has obtained permission from the
       Keuangan    Republik    Indonesia     untuk                 Minister of Finance of the Republic of
       menjalankan   usaha    di   bidang    sewa                  Indonesia to engage in finance leasing,
       pembiayaan, anjak piutang dan pembiayaan                    factoring and consumer financing in his
       konsumen berdasarkan Surat Keputusan                        Decision Letter No. 441/KMK.017/1996 dated
       No. 441/KMK.017/1996 tanggal 21 Juni 1996.                  June 21, 1996.



                                                       - 27 -
Page 350
PT SINAR MAS MULTIARTHA TBK                                                 PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                          AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                          For the Years Ended
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                         (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                             unless otherwise stated)


       PT Asuransi Simas Insurtech (ASI)                          PT Asuransi Simas Insurtech (ASI)

       Berdasarkan Akta Pernyataan Keputusan Para                 Based on the Deed of the Extraordinary
       Pemegang Saham Luar Biasa No. 12 tanggal                   Stockholders Decision statement No. 12 dated
       22 November 2018 dari Syofilawati, S.H.,                   November 22, 2018 of Syofilawati, S.H., a
       notaris di Kota Bekasi, menyetujui perubahan               public notary in Bekasi, approving the name
       nama PT Asuransi Simas Net (ASN) menjadi                   change from PT Asuransi Simas Net (ASN) to
       PT Asuransi Simas Insurtech (ASI).                         PT Asuransi Simas Insurtech (ASI).

       PT AB Sinar Mas Multifinance (ABSM)                        PT AB Sinar Mas Multifinance (ABSM)

       ABSM telah memperoleh izin dari Menteri                    ABSM has obtained permission from the
       Keuangan    Republik    Indonesia  untuk                   Minister of Finance of the Republic of
       menjalankan   usaha    di   bidang  sewa                   Indonesia to engage in finance leasing,
       pembiayaan, anjak piutang dan pembiayaan                   factoring and consumer financing in his
       konsumen berdasarkan Surat Keputusan No.                   Decision Letter No. 525/KMK.017/1995 dated
       525/KMK.017/1995 tanggal 17 November                       November 17, 1995.
       1995.

       PT Sinarmas Sekuritas (SMS)                                PT Sinarmas Sekuritas (SMS)

       SMS telah memperoleh izin dari Badan                       SMS has obtained permission from the Capital
       Pengawas Pasar Modal dan Lembaga                           Market Supervisory (Bapepam – LK or OJK) to
       Keuangan (Bapepam dan LK atau OJK)                         engage in stock brokerage, stock underwriting
       sebagai penjamin emisi efek, perantara                     and as an investment manager in its Decision
       pedagang efek dan manajer investasi, masing-               Letter No. Kep-82/PM/1992 dated Februari 29,
       masing melalui Surat Keputusan Bapepam No.                 1992, No. Kep-83/PM/1992 dated Februari 29,
       Kep-82/PM/1992 tanggal 29 Februari 1992,                   1992 and No. Kep-02/PM/MI/2000 dated
       No. Kep-83/PM/1992 tanggal 29 Februari 1992                May 15, 2000, respectively.
       dan No. Kep-02/PM/MI/2000 tanggal 15 Mei
       2000.

       PT Sinarmas Futures (SF)                                   PT Sinarmas Futures (SF)

       SF telah memperoleh izin usaha untuk                       SF has obtained permission from Commodity
       menyelenggarakan kegiatan sebagai pialang                  Futures Trading Supervisory Agency to
       berjangka dari Badan Pengawas Perdagangan                  engage in business activity as Futures broker
       Berjangka      Komoditi   melalui    surat                 in its Decision Letter No. 889/BAPPEBTI/
       No.     889/BAPPEBTI/SI/3/2006     tanggal                 SI/3/2006 dated March 27, 2006.
       27 Maret 2006.

       PT Sinarmas Asset Management (SAM)                         PT Sinarmas Asset Management (SAM)

       SAM telah memperoleh ijin usaha untuk                      SAM has obtained permission from Capital
       melakukan kegiatan usaha sebagai manajer                   Market Supervisory Agency (Bapepam - LK or
       investasi dari Badan Pengawas Pasar Modal                  OJK) engage as investment manager in its
       dan Lembaga Keuangan (Bapepam dan LK                       Decision Letter No. KEP-03/BL/MI/2012 dated
       atau sekarang OJK) melalui surat No. KEP-                  April 9, 2012.
       03/BL/MI/2012 tanggal 9 April 2012.

       PT Sinartama Gunita (STG)                                  PT Sinartama Gunita (STG)

       STG telah memperoleh izin untuk melakukan                  STG has obtained permission from Capital
       kegiatan sebagai Biro Administrasi Efek dari               Market Supervisory Agency (Bapepam - LK or
       Badan Pengawas Pasar Modal dan Lembaga                     OJK) to engage in business activities shares
       Keuangan (Bapepam dan LK atau sekarang                     registart in its Decision Letter No. Kep-
       OJK) melalui surat No. Kep-82/PM/1991                      82/PM/1991 dated September 30, 1991.
       tanggal 30 September 1991.




                                                      - 28 -
Page 351
PT SINAR MAS MULTIARTHA TBK                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                         For the Years Ended
31 Desember 2023 dan 2022                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                            unless otherwise stated)


       Pada bulan Mei 2021, Perusahaan menambah                  In May 2021, the Company increased its
       setoran modal pada STG sebesar Rp200.000.                 investment in STG amounting to Rp200,000,
       Persentase kepemilikan Perusahaan pada                    the Company’s ownership interest in STG is
       STG sebesar 99,99%.                                       99,99%

       PT Sinar Mas Ventura (SMV)                                PT Sinar Mas Ventura (SMV)

       SMV telah memperoleh izin untuk melakukan                 SMV has obtained permission from OJK to
       kegiatan usaha modal ventura dari OJK                     engage in venture capital business activities
       melalui Surat No. Kep-3/D.05/2019 tanggal 9               based on Decision Letter No. Kep-3/D.05/2019
       Januari 2019.                                             dated on January 9, 2019.

       PT Shinta Utama (SU)                                      PT Shinta Utama (SU)

       Pada tahun 2020, Perusahaan menambah                      In 2020, the Company increased its investment
       setoran modal pada SU sebesar Rp349.500                   in SU amounting to Rp349,500, thus increased
       sehingga      meningkatkan      persentase                its ownership interest in SU from 99.89% to
       kepemilikan Perusahaan pada SU dari 99,89%                99.95%.
       menjadi 99,95%.

       PT Sinar Artha Trading (SAT)                              PT Sinar Artha Trading (SAT)

       Pada bulan Februari 2020, Perusahaan                      In February 2020, the Company increased its
       menambah setoran modal pada SAT sebesar                   investment in SAT amounting to Rp988, thus
       Rp988 sehingga meningkatkan persentase                    increased its ownership interest in SAT from
       kepemilikan Perusahaan pada SAT dari                      92.00% to 99.99%.
       92,00% menjadi 99,99%.

       PT Rizki Lancar Sentosa (RLS)                             PT Rizki Lancar Sentosa (RLS)

       Pada tanggal 25 Juli 2023, Perusahaan                     On July 25, 2023, the Company increased its
       menambah setoran modal pada RLS sebesar                   investment in RLS amounting to Rp8,000,000,
       Rp8.000.000 sehingga persentase kepemilikan               thus increased its ownership interest in RLS to
       Perusahaan pada RLS menjadi 99,99%.                       99.99%.

       PT Dana Saham Bersama (DSB)                               PT Dana Saham Bersama (DSB)

       DSB berkedudukan di Jakarta merupakan                     DSB is domiciled in Jakarta which is engaged
       perusahaan yang bergerak di bidang layanan                in information technology-based crowd funding
       urun dana berbasis teknologi informasi.                   services.

       PT Digital Solusindo Nusantara (DSN)                      PT Digital Solusindo Nusantara (DSN)

       DSN berkedudukan di Jakarta merupakan                     DSN is domiciled in Jakarta which is engaged
       perusahaan yang bergerak di bidang layanan                in technology - based lending and borrowing
       pinjam meminjam uang berbasis teknologi.                  service. On September 23, 2020, the
       Pada    tanggal  23    September     2020,                Company and SU invested in DSN amounting
       Perusahaan dan SU melakukan investasi pada                to Rp2,499 and Rp1, respectively.
       saham DSN masing-masing sebesar Rp2.499
       dan Rp1.

       PT Kebayoran Parama Propertindo (KPP)                     PT Kebayoran Parama Propertindo (KPP)

       KPP merupakan perusahaan yang bergerak                    KPP is a Company operating in the property
       dalam bidang properti.                                    sector.




                                                     - 29 -
Page 352
PT SINAR MAS MULTIARTHA TBK                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                         For the Years Ended
31 Desember 2023 dan 2022                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                            unless otherwise stated)


       Pada bulan Juli 2019, RLS membeli 308.399                 In July 2019, RLS purchased 308,399 new
       saham baru yang diterbitkan oleh KPP dengan               shares issued by KPP amounting to
       nilai pembelian sebesar Rp277.559 atau                    Rp277,559 with ownership interest of 77.20%.
       setara 77,20%. Pemegang saham pendiri KPP                 Founding shareholders of KPP have rights to
       memiliki hak opsi untuk membeli kembali                   buy back shares of KPP in 1 (one) year since
       saham KPP dalam jangka waktu 1 (satu) tahun               the date the shares were issued to RLS.
       sejak penerbitan saham untuk RLS.

       Pada tahun 2020, pemegang saham pendiri                   In 2020, KPP shareholders did not exercise
       KPP tidak melaksanakan opsi untuk membeli                 the option to buy back KPP shares, thus, KPP
       kembali saham KPP, sehingga laporan                       financial statements are consolidated to RLS.
       keuangan KPP dikonsolidasikan ke RLS.

       Pada bulan Maret 2022, RLS menambah                       In March 2022, RLS increased its capital
       setoran modal pada KPP sebesar Rp75.237                   injection in KPP by Rp75,237, thereby
       sehingga      meningkatkan    persentase                  increasing RLS' ownership interest percentage
       kepemilikan RLS pada KPP dari 77,20%                      in KPP from 77.20% to 98.12%.
       menjadi 98,12%.

       PT Citra Grahareksa Abadi (CGA)                           PT Citra Grahareksa Abadi (CGA)

       CGA merupakan perusahaan yang bergerak                    CGA is a company operating in the foresting
       dalam bidang perhutanan.                                  sector.

       Pada bulan September 2019, RLS membeli                    In September 2019, RLS purchased 30,000
       30.000 saham baru yang diterbitkan oleh CGA               new shares which were issued by CGA
       dengan nilai pembelian sebesar Rp3.000 atau               amounting to Rp3,000 with ownership interest
       setara 75%. Pemegang saham pendiri CGA                    of 75%. Founding shareholders of CGA have
       memiliki hak opsi untuk membeli kembali                   the rights to buy back shares of CGA in 1 (one)
       saham CGA dalam jangka waktu 1 (satu)                     year since the date the shares were issued to
       tahun sejak penerbitan saham untuk RLS.                   RLS.

       Pada tahun 2020, pemegang saham pendiri                   In 2020, CGA shareholders did not exercise
       CGA tidak melaksanakan opsi untuk membeli                 the option to buy back CGA shares, thus, CGA
       kembali saham CGA, sehingga laporan                       financial statements are consolidated to RLS.
       keuangan CGA dikonsolidasikan ke RLS.

       PT Balai Lelang Sinarmas (BLS)                            PT Balai Lelang Sinarmas (BLS)

       Pada bulan Oktober 2020, Perusahaan                       In October 2020, the Company increased its
       menambah setoran modal pada BLS sebesar                   investment in BLS amounting to Rp9,000, thus
       Rp9.000 sehingga meningkatkan persentase                  increased its ownership interest in BLS from
       kepemilikan Perusahaan pada BLS dari                      99.90% to 99.99%.
       99,90% menjadi 99,99%.

       PT Data Opal Terpadu (DOT)                                PT Data Opal Terpadu (DOT)

       DOT berkedudukan di Jakarta merupakan                     DOT is domiciled in Jakarta which is engaged
       perusahaan yang bergerak di bidang layanan                in technology based lending and borrowing
       pinjam meminjam uang berbasis teknologi.                  service. On June 8, 2021, AMS invested to
       Pada tanggal 8 Juni 2021, AMS melakukan                   DOT amounting to Rp19,800 with ownership
       investasi pada saham DOT sebesar Rp19.800                 interest of 99.92%.
       atau setara dengan 99,92% kepemilikan.




                                                     - 30 -
Page 353
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


        PT Zimba Onix Mustika (ZOM)                                    PT Zimba Onix Mustika (ZOM)

        ZOM berkedudukan di Jakarta merupakan                          ZOM is domiciled in Jakarta which is engaged
        perusahaan yang bergerak di bidang layanan                     in technology based lending and borrowing
        pinjam meminjam uang berbasis teknologi.                       service. On June 8, 2021, SU invested in ZOM
        Pada tanggal 8 Juni 2021, SU melakukan                         amounting to Rp19,800 with ownership interest
        investasi pada saham ZOM sebesar Rp19.800                      of 99.92%.
        atau setara dengan 99,92% kepemilikan.

        PT Sistem Loka Triprima (SLT)                                  PT Sistem Loka Triprima (SLT)

        SLT berkedudukan di Jakarta merupakan                          SLT is domiciled in Jakarta which is engaged
        perusahaan yang bergerak di bidang layanan                     in technology based lending and borrowing
        pinjam meminjam uang berbasi teknologi.                        service. On June 8, 2021, SU invested in SLT
        Pada tanggal 8 Juni 2021, SU melakukan                         amounting to Rp19,800 with ownership interest
        investasi pada saham SLT sebesar Rp19.800                      of 99.92%.
        atau setara dengan 99,92% kepemilikan.

        Sinar Mas Life Insurance, S.A (SLI)                            Sinar Mas Life Insurance, S.A (SLI)

        SLI berkedudukan di Timor Leste merupakan                      SLI is domiciled in Timor Leste which is
        perusahaan yang bergerak di bidang asuransi                    engaged in life insurance business. On
        jiwa. Pada tanggal 9 Desember 2021, SMI dan                    December 9, 2021, SMI and ASJ invested in
        ASJ melakukan investasi pada saham SLI                         SLI shares amounting to USD650,000 with
        masing-masing sebesar USD650.000 atau                          ownership interest of 65% and USD250,000
        setara dengan 65% kepemilikan dan USD                          with ownership interest of 25%, respectively.
        250.000 atau setara dengan 25% kepemilikan.

   d.   Karyawan, Direksi dan Dewan Komisaris                     d.   Employees, Directors,           and     Boards    of
                                                                       Commissioners

                                                 2023                       2022

        Komisaris Utama         :             Fuganto Widjaja               Indra Widjaja     : President Commissioner
        Komisaris               :              Howen Widjaja              Howen Widjaja       : Commissioners
                                                Dani Lihardja            Fuganto Widjaja
        Komisaris Independen    :         Robinson Simbolon          Robinson Simbolon        : Independent Commissioners
                                                Ketut Sanjaya              Ketut Sanjaya
        Direktur Utama          :       Burhanuddin Abdullah       Burhanuddin Abdullah       : President Director
        Direktur                :       Agus Leman Gunawan         Agus Leman Gunawan         : Directors
                                                          Felix            Dani Lihardja
                                                         Ferita                       Felix
                                                    Lili Wijata                      Ferita
                                                                                Lili Wijata

        Susunan  Komite    Audit   pada   tanggal                      As at December 31, 2023 and 2022, the
        31 Desember 2023 dan 2022, adalah sebagai                      Company’s Audit Committee consists of the
        berikut:                                                       following:

                                                 2023                       2022

        Ketua                   :          Robinson Simbolon             Halim Alamsyah       : Chairman
        Anggota                 :            Halim Alamsyah            Robinson Simbolon      : Members
                                                    Nurhaida           Rahmat Waluyanto

        Pembentukan Komite Audit Perusahaan telah                      The formation of the Company’s Audit
        sesuai dengan Peraturan No. IX.I.5 mengenai                    Committee complies with Regulation No. IX.I.5
        “Pembentukan dan Pedoman Pelaksanaan                           concerning the “Establishment and Guidelines
        Kerja Komite Audit”.                                           of   the     Audit     Committee    Working
                                                                       Implementation”.




                                                        - 31 -
Page 354
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                        unless otherwise stated)


          Personel manajemen kunci Grup terdiri dari                           Key management Group personnel consist of
          Komisaris, Direksi, Kepala Divisi, Group Head,                       Commissioners, Directors, Division Head,
          Koordinator Wilayah dan Pimpinan Cabang.                             Group Head, the Coordinator of the Region
                                                                               and Branch Managers.

          Jumlah karyawan tetap Perusahaan (tidak                              As at December 31, 2023 and 2022, the
          diaudit) pada tanggal 31 Desember 2023 dan                           Company has a total number of 56 and 41
          2022 masing-masing sejumlah 56 dan 41                                permanent        employees     (unaudited),
          karyawan, sedangkan jumlah karyawan tetap                            respectively, while the Group has a total
          gabungan Grup (tidak diaudit) pada tanggal                           number of 8,983 and 10,432 permanent
          31 Desember 2023 dan 2022 masing-masing                              employees as at December 31, 2023 and 2022
          sejumlah 8.983 dan 10.432 karyawan (tidak                            (unaudited), respectively.
          diaudit).

     e.   Penyelesaian        Laporan        Keuangan                    e.    Completion     of   Consolidated     Financial
          Konsolidasian                                                        Statements

          Laporan keuangan konsolidasian PT Sinar                              The consolidated financial statements of
          Mas Multiartha Tbk dan entitas anak telah                            PT Sinar Mas Multiartha Tbk and its
          diselesaikan dan diotorisasi untuk terbit oleh                       subsidiaries were completed and authorized
          Direksi     Perusahaan       pada     tanggal                        for issuance on March 28, 2024 by the
          28    Maret    2024.    Direksi   Perusahaan                         Company’s Directors who are responsible for
          bertanggung jawab atas penyusunan dan                                the preparation and presentation of the
          penyajian laporan keuangan konsolidasian                             consolidated financial statements.
          tersebut.


2.   Informasi Kebijakan Akuntansi Material                         2.    Material Accounting Policy Information

     a.   Dasar   Penyusunan   dan    Pengukuran                          a.   Basis of Consolidated Financial Statements
          Laporan Keuangan Konsolidasian                                       Preparation and Measurement
          Laporan keuangan konsolidasian disusun dan                           The consolidated financial statements have
          disajikan dengan menggunakan Standar                                 been prepared and presented in accordance
          Akuntansi Keuangan (“SAK”) di Indonesia,                             with   Indonesian     Financial   Accounting
          meliputi pernyataan dan interpretasi yang                            Standards (“SAK”), which comprise the
          diterbitkan oleh Dewan Standar Akuntansi                             statements and interpretations issued by the
          Keuangan      Ikatan   Akuntan    Indonesia                          Board of Financial Accounting Standards of
          (DSAK IAI) dan Dewan Standar Akuntansi                               the Institute of Indonesia of Accountants
          Syariah IAI, dan Peraturan OJK No. VIII.G.7                          (DSAK IAI) and the Board of Sharia
          tentang “Penyajian dan Pengungkapan                                  Accounting Standards of IAI and OJK
          Laporan Keuangan Emiten atau Perusahaan                              Regulation     No.      VIII.G.7    regarding
          Publik”.                                                             “Presentation and Disclosures of Public
                                                                               Companies’ Financial Statements”.
          Dasar    pengukuran    laporan   keuangan                            The measurement basis used is the historical
          konsolidasian ini adalah konsep biaya                                cost, except for certain accounts which are
          perolehan, kecuali beberapa akun tertentu                            measured on the bases described in the
          disusun    berdasarkan   pengukuran    lain,                         related accounting policies. The consolidated
          sebagaimana diuraikan dalam kebijakan                                financial   statements,    except   for   the
          akuntansi masing-masing akun tersebut.                               consolidated statements of cash flows, are
          Laporan keuangan konsolidasian ini disusun                           prepared under the accrual basis of
          dengan metode akrual, kecuali laporan arus                           accounting.
          kas konsolidasian.
          Laporan arus kas konsolidasian disusun                               The consolidated statement of cash flows are
          dengan menggunakan metode langsung                                   prepared using the modified direct method with
          dimodifikasi dengan mengelompokan arus kas                           classifications of cash flows into operating,
          dalam aktivitas operasi, investasi dan                               investing, and financing activities. For the
          pendanaan. Untuk tujuan penyusunan laporan                           purpose of the consolidated statements of
          arus kas konsolidasian, kas dan setara kas                           cash flows, cash and cash equivalents include
          terdiri dari kas, kas di bank, giro pada Bank                        cash, cash in banks, demand deposits with
          Indonesia, simpanan yang sangat likuid                               Bank Indonesia, and other liquid deposits, with
          dengan jatuh tempo tiga (3) bulan atau kurang                        original maturity of three (3) months or less
          dari tanggal perolehan dan penempatan pada                           from the acquisition date and funds placed in
          perusahaan sekuritas.                                                securities companies.


                                                           - 32 -
Page 355
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


        Kebijakan akuntansi yang diterapkan dalam                      The accounting policies adopted in the
        penyusunan laporan keuangan konsolidasian                      preparation of the consolidated financial
        untuk tahun yang berakhir 31 Desember 2023                     statements for the year ended December 31,
        adalah konsisten dengan kebijakan akuntansi                    2023 are consistent with those adopted in the
        yang diterapkan dalam penyusunan laporan                       preparation of the consolidated financial
        keuangan konsolidasian untuk tahun yang                        statements for the year ended December 31,
        berakhir 31 Desember 2022.                                     2022.

        Entitas anak yang bergerak di bidang asuransi                  Subsidiaries engaged in insurance business
        belum menerapkan PSAK No. 71 sesuai                            have not yet implemented PSAK No. 71 in
        dengan ketentuan yang berlaku.                                 accordance with the prevailing regulations.

        Mata uang yang digunakan dalam penyusunan                      The reporting currency used in the preparation
        dan penyajian laporan keuangan konsolidasian                   of the consolidated financial statements is the
        adalah mata uang Rupiah yang juga                              Indonesian Rupiah which is also the functional
        merupakan mata uang fungsional Perusahaan.                     currency of the Company.

        Grup telah menyusun laporan keuangan                           The Group has prepared the consolidated
        konsolidasian dengan dasar bahwa Grup akan                     financial statements on the basis that it will
        terus beroprasi secara berkesinambungan.                       continue to operate as a going concern.

   b.   Prinsip Konsolidasi                                       b.   Principles of Consolidation

        Laporan keuangan konsolidasian meliputi                        The consolidated financial statements include
        laporan keuangan Perusahaan dan entitas                        the accounts of the Company and Subsidiaries
        anak    sebagaimana  diungkapkan pada                          mentioned in Note 1c.
        Catatan 1c.

        Laporan keuangan konsolidasian meliputi                        The       consolidated    financial    statements
        laporan keuangan Perusahaan dan entitas-                       incorporate the financial statements of the
        entitas (termasuk entitas terstruktur) yang                    Company and entities (including structured
        dikendalikan oleh Perusahaan dan entitas                       entities) controlled by the Company and its
        anak (Grup). Pengendalian diperoleh apabila                    subsidiaries (the Group). Control is achieved
        Perusahaan memiliki seluruh hal berikut ini:                   when the Company has all the following:
        • kekuasaan atas investee;                                     •     power over the investee;
        • eksposur atau hak atas imbal hasil variabel                  •     is exposure, or rights, to variable returns
           dari keterlibatannya dengan investee; dan                         from its involvement with the investee; and
        • kemampuan           untuk     menggunakan                    •     the ability to use its power over the
           kekuasaannya       atas   investee    untuk                       investee to influence the amount of return
           mempengaruhi jumlah imbal hasil investor.                         to investors.

        Pengkonsolidasian entitas anak dimulai pada                    Consolidation of a subsidiary begins when the
        saat Perusahaan memperoleh pengendalian                        Company obtains control over the subsidiary
        atas entitas anak dan berakhir pada saat                       and ceases when the Company losses control
        Perusahaan kehilangan pengendalian atas                        of the subsidiary. Specifically, income and
        entitas anak. Secara khusus, penghasilan dan                   expenses of a subsidiary acquired or disposed
        beban entitas anak yang diakuisisi atau                        of during the year are included in the
        dilepaskan selama tahun berjalan termasuk                      consolidated statement of profit or loss and
        dalam laporan laba rugi dan penghasilan                        other comprehensive income from the date the
        komprehensif lain konsolidasian sejak tanggal                  Company gains control until the date when the
        Perusahaan      memperoleh      pengendalian                   Company ceases to control the subsidiary.
        sampai     dengan     tanggal     Perusahaan
        kehilangan pengendalian atas entitas anak.

        Seluruh     aset  dan    liabilitas, ekuitas,                  All intragroup assets and liabilities, equity,
        penghasilan, beban dan arus kas dalam intra                    income, expenses and cash flows relating to
        kelompok usaha terkait dengan transaksi antar                  transactions between members of the Group
        entitas dalam Grup dieliminasi secara penuh                    are eliminated in full on consolidation.
        dalam laporan keuangan konsolidasian.




                                                         - 33 -
Page 356
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       Laba rugi dan setiap komponen penghasilan                       Profit or loss and each component of other
       komprehensif lain diatribusikan kepada pemilik                  comprehensive income are attributed to the
       Perusahaan dan kepentingan non-pengendali                       owners of the Company and to the non-
       (KNP) meskipun hal tersebut mengakibatkan                       controling interest (NCI) even if this results in
       KNP memiliki saldo defisit.                                     the NCI having a deficit balance.

       KNP disajikan dalam laporan laba rugi dan                       NCI are presented in the consolidated
       penghasilan komprehensif lain konsolidasian                     statement of profit or loss and other
       dan dalam ekuitas pada laporan posisi                           comprehensive income and under the equity
       keuangan konsolidasian, terpisah dari bagian                    section of the consolidated statement of
       yang dapat diatribusikan kepada pemilik                         financial position, separate from the portion
       Perusahaan.                                                     attributable to the owners of the Company.

       Transaksi     dengan      KNP     yang    tidak                 Transactions with NCI that do not result in loss
       mengakibatkan hilangnya pengendalian dicatat                    of control are accounted for as equity
       sebagai transaksi ekuitas. Selisih antara nilai                 transactions. The difference between the fair
       wajar imbalan yang dialihkan dengan bagian                      value of any consideration paid and the
       relatif atas nilai tercatat aset bersih entitas                 relevant share acquired of the carrying value of
       anak yang diakuisisi dicatat di ekuitas.                        net assets of the subsidiary is recorded in
       Keuntungan atau kerugian dari pelepasan                         equity. Gains or losses on disposals to NCI are
       kepada KNP juga dicatat di ekuitas.                             also recorded in equity.

  c.   Kombinasi Bisnis                                           c.   Accounting for Business Combination

       Entitas Tidak Sepengendali                                      Among Entities Not Under Common Control

       Kombinasi bisnis, kecuali kombinasi bisnis                      Business combinations, except business
       entitas     sepengendali,   dicatat    dengan                   combination among entities under common
       menggunakan       metode     akuisisi.  Biaya                   control, are accounted for using the acquisition
       perolehan dari sebuah akuisisi diukur pada                      method. The cost of an acquisition is
       nilai agregat imbalan yang dialihkan, diukur                    measured as the aggregate of the
       pada nilai wajar pada tanggal akuisisi dan                      consideration transferred, measured at
       jumlah setiap KNP pada pihak yang diakuisisi.                   acquisition date fair value and the amount of
       Untuk setiap kombinasi bisnis, Group                            any non-controlling interests (NCI) in the
       mengukur KNP pada entitas yang diakuisisi                       Group. For each business combination, the
       pada nilai wajar atau sebesar proporsi                          acquirer measures the NCI in the acquiree
       kepemilikan KNP atas aset neto yang                             either at fair value or at the proportionate
       teridentifikasi dari entitas yang diakuisisi.                   share of the acquiree’s identifiable net assets.
       Biaya-biaya akuisisi yang timbul dibebankan                     Acquisition costs incurred are directly
       langsung dan disajikan sebagai beban                            expensed and included in administrative
       administrasi.                                                   expenses.

       Ketika melakukan akuisisi atas sebuah bisnis,                   When the Group acquires a business, it
       Grup mengklasifikasikan dan menentukan aset                     assesses the financial assets acquired and
       keuangan yang diperoleh dan liabilitas                          liabilities assumed for appropriate classification
       keuangan yang diambil alih berdasarkan pada                     and designation in accordance with the
       persyaratan kontraktual, kondisi ekonomi dan                    contractual terms, economic circumstances
       kondisi terkait lain yang ada pada tanggal                      and pertinent conditions as at the acquisition
       akuisisi. Efektif 1 Januari 2021, saat                          date. Effective January 1, 2021, upon adoption
       penerapan amandemen PSAK No. 22                                 of the Amendment to PSAK No. 22 “Business
       “Kombinasi Bisnis”, Grup dapat memilih untuk                    Combination”, the Group has an option to
       menerapkan ‘pengujian konsentrasi nilai wajar’                  apply a ‘fair value concentration test’ that
       yang      mengijinkan      penilaian     yang                   permits a simplified assessment of wheter an
       disederhanakan apakah rangkaian aktivitas                       acquired set of activities and assets is not a
       dan aset yang diakuisisi bukan merupakan                        business. The concentration test can be
       suatu bisnis. Pengujian konsentrasi dapat                       applied on a transaction-by-transaction basis.
       diterapkan secara terpisah untuk setiap                         The optional concentraion test is met if
       transaksi. Pengujian konsentrasi opsional                       substantially all of the fair value of the gross
       terpenuhi jika secara substansial seluruh nilai                 assets acquired is concentrated in a single
       wajar aset bruto yang diakuisisi terkonsentrasi                 identifiable asset or group of similar identifiable




                                                         - 34 -
Page 357
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       dalam aset teridentifikasi tunggal atau                        assets. If the test is met, the set of activities
       kelompok aset teridentifikasi serupa. Jika                     and assets is determined not to be a business
       pengujian terpenuhi, rangkaian aktivitas dan                   and no further assessment is needed. If the
       aset ditentukan bukan merupakan suatu bisnis                   test is not met, or if the Group elects not to
       dan tidak diperlukan penilaian lanjutan. Jika                  apply the test, a detailed assessment must be
       pengujian tidak terpenuhi atau jika Grup                       performed applying the normal requirement in
       memilih untuk tidak menerapkan pengujian                       PSAK No. 22.
       tersebut, penilaian yang detail harus dilakukan
       sesuai dengan persyaratan normal dalam
       PSAK No. 22.

       Dalam suatu kombinasi bisnis yang dilakukan                    If the business combination is carried out in
       secara bertahap, pada tanggal akuisisi pihak                   stages, the acquisition date fair value of the
       pengakuisisi mengukur kembali nilai wajar                      acquirer’s previously held equity interest in the
       kepentingan ekuitas yang dimiliki sebelumnya                   acquiree is remeasured to fair value at the
       pada pihak yang diakuisisi dan mengakui                        acquisition date through profit or loss.
       keuntungan atau kerugian yang dihasilkan
       dalam laba rugi.

       Pada tanggal akuisisi, goodwill awalnya diukur                 At acquisition date, goodwill is initially
       pada harga perolehan yang merupakan selisih                    measured at cost being the excess of the
       lebih nilai agregat dari imbalan yang dialihkan                aggregate of the consideration transferred and
       dan jumlah yang diakui untuk KNP atas aset                     the amount recognized for NCI over the net
       bersih teridentifikasi yang diperoleh dan                      identifiable assets acquired and liabilities
       liabilitas yang diambil alih. Jika nilai agregat               assumed. If this consideration is lower than the
       tersebut lebih kecil dari nilai wajar aset neto                fair value of the net assets of the subsidiary
       entitas anak yang diakuisisi, selisih tersebut                 acquired, the difference is recognized in profit
       diakui dalam laba rugi.                                        or loss.

       Setelah pengakuan awal, goodwill diukur pada                   After initial recognition, goodwill is measured at
       jumlah tercatat dikurangi akumulasi kerugian                   cost less any accumulated impairment losses.
       penurunan nilai. Untuk tujuan uji penurunan                    For the purpose of impairment testing, goodwill
       nilai, goodwill yang diperoleh dari suatu                      acquired in a business combination is, from the
       kombinasi bisnis, sejak tanggal akuisisi,                      acquisition date, allocated to each of the
       dialokasikan kepada setiap Unit Penghasil Kas                  Group’s’ cash-generating units (“CGU”) that
       (“UPK”) dari Group yang diharapkan akan                        are expected to benefit from the combination,
       menerima manfaat dari sinergi kombinasi                        irrespective of whether other assets or
       tersebut, terlepas dari apakah aset atau                       liabilities of the acquired are assigned to those
       liabilitas lain dari pihak yang diakuisisi                     CGUs.
       dialokasikan ke UPK tersebut.

       Jika goodwill telah dialokasikan pada suatu                    Where goodwill forms part of a CGU and part
       UPK dan operasi tertentu atas UPK tersebut                     of the operation within that CGU is disposed
       dihentikan, maka goodwill yang diasosiasikan                   of, the goodwill associated with the operation
       dengan operasi yang dihentikan tersebut                        disposed of is included in the carrying amount
       termasuk dalam jumlah tercatat operasi                         of the operation when determining the gain or
       tersebut ketika menentukan keuntungan atau                     loss on disposal of the operation. Goodwill
       kerugian dari pelepasan. Goodwill yang                         disposed of in this circumstance is measured
       dilepaskan tersebut diukur berdasarkan nilai                   based on the relative values of the operation
       relatif operasi yang dihentikan dan porsi UPK                  disposed of and the portion of the CGU
       yang ditahan.                                                  retained.

       Entitas Sepengendali                                           Among Entities Under Common Control

       Transaksi     kombinasi    bisnis    entitas                   Business combination transaction of entities
       sepengendali, berupa pengalihan bisnis yang                    under common control in form of business
       dilakukan dalam rangka reorganisasi entitas-                   transfer with regard to reorganization of
       entitas yang berada dalam suatu kelompok                       entities within the same group of companies
       usaha yang sama, bukan merupakan                               does not result in a change of the economic
       perubahan kepemilikan dalam arti substansi                     substance of the ownership, in which the
       ekonomi, sehingga transaksi tersebut diakui                    transaction does not incur gain or loss to the
       pada jumlah tercatat berdasarkan metode                        group as a whole or to the individual company
       penyatuan kepemilikan.                                         within the group. Therefore, the transaction is
                                                                      recognized at carrying value based on pooling
                                                                      of interest method.


                                                          - 35 -
Page 358
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


        Selisih antara jumlah imbalan yang dialihkan                   Any     difference  between     amount      of
        dan jumlah tercatat dari setiap kombinasi                      consideration transferred and the carrying
        bisnis entitas sepengendali disajikan dalam                    value of each business combination of entities
        akun tambahan modal disetor pada bagian                        under common control is recognized as
        ekuitas dalam laporan posisi keuangan                          additional paid-in capital as part of equity
        konsolidasian.                                                 section in the consolidated statement of
                                                                       financial position.

        Entitas yang melepas bisnis, dalam pelepasan                   An entity which is disposing a business unit in
        bisnis entitas sepengendali, mengakui selisih                  connection with the disposal of a business unit
        antara imbalan yang diterima dan jumlah                        of an entity under common control recognizes
        tercatat bisnis yang dilepas dalam akun                        the difference between the consideration
        tambahan modal disetor pada bagian ekuitas                     received and carrying amount of the disposed
        dalam laporan posisi keuangan konsolidasian.                   business unit as additional paid-in capital as
                                                                       part of equity section in the consolidated
                                                                       statement of financial position.

   d.   Penjabaran Mata Uang Asing                                d.   Foreign Currency Translation

        Mata Uang Fungsional dan Pelaporan                             Functional and Reporting Currencies

        Akun-akun yang tercakup dalam laporan                          Items included in the financial statements of
        keuangan setiap entitas dalam Grup diukur                      each of the Group’s companies are measured
        menggunakan mata uang dari lingkungan                          using the currency of the primary economic
        ekonomi utama dimana entitas beroperasi                        environment in which the entity operates (the
        (mata uang fungsional).                                        functional currency).

        Laporan keuangan konsolidasian disajikan                       The consolidated financial statements are
        dalam Rupiah, yang merupakan mata uang                         presented in Rupiah which is the Company’s
        fungsional Perusahaan dan mata uang                            functional and the Group’s presentation
        penyajian Grup.                                                currency.

        Transaksi dan Saldo                                            Transactions and Balances

        Transaksi dalam mata uang asing dijabarkan                     Foreign currency transactions are translated
        kedalam mata uang fungsional menggunakan                       into the functional currency using the
        kurs pada tanggal transaksi. Keuntungan atau                   exchange rates prevailing at the dates of the
        kerugian selisih kurs yang timbul dari                         transactions. Foreign exchange gains and
        penyelesaian transaksi dan dari penjabaran                     losses resulting from the settlement of such
        pada kurs akhir tahun atas aset dan liabilitas                 transactions and from the translation at year
        moneter dalam mata uang asing diakui dalam                     end exchange rates of monetary assets and
        laba rugi. Aset nonmoneter yang diukur pada                    liabilities denominated in foreign currencies are
        nilai wajar dijabarkan menggunakan kurs pada                   recognized in profit or loss. Non-monetary
        tanggal nilai wajar ditentukan. Selisih                        assets that are measured at fair value are
        penjabaran       akun   ekuitas    dan    akun                 ranslated using the exchange rate at the date
        nonmoneter serupa yang diukur pada nilai                       that the fair value was determined. Translation
        wajar diakui dalam laba rugi Pada tanggal                      differences on equities and similar non-
        29 Desember 2023 dan 30 Desember 2022                          monetary items measured at fair value are
        adalah kurs tengah Reuters pukul 16.00 WIB                     recognized in profit or loss. As at December
        yaitu     masing-masing      adalah    sebesar                 29, 2023 and December 30, 2022, the Reuters
        Rp15.416,00 (dalam Rupiah penuh) dan                           middle rate at 16:00 WIB are Rp15,416.00 (in
        Rp15.731,00 (dalam Rupiah penuh) per US$1.                     full Rupiah amount) and Rp15,731.00 (in full
                                                                       Rupiah amount), per US$ 1, respectively.

        Kurs yang digunakan BS, entitas anak yang                      The conversion rates used by BS, a subsidiary
        bergerak di bidang perbankan, untuk                            engaged in banking business, to translate
        menjabarkan aset dan liabilitas dalam mata                     monetary assets and liabilities as at
        uang asing pada tanggal 31 Desember 2023                       December 31, 2023 and 2022, the Reuters
        dan 2022 adalah kurs tengah Reuters pukul                      middle rate at 16:00 WIB are Rp15,397.00 (in
        16.00 WIB yaitu masing-masing adalah                           full Rupiah amount) and Rp15,567.50 (in full
        sebesar Rp15.397,00 (dalam Rupiah penuh)                       Rupiah amount), per US$ 1, respectively.
        dan Rp15.567,50 (dalam Rupiah penuh) per
        US$1.


                                                         - 36 -
Page 359
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


        Kelompok Usaha Grup                                             Group Companies

        Hasil usaha dan posisi keuangan dari                            The results and financial position of all the
        kelompok usaha Grup yang memiliki mata                          Group’s companies that have a functional
        uang fungsional yang berbeda dengan mata                        currency different from the reporting currency
        uang pelaporan, dijabarkan pada mata uang                       are translated into the reporting currency as
        pelaporan sebagai berikut:                                      follows:
        1. aset dan liabilitas dari setiap laporan                      1.    assets and liabilities for each statement
            posisi    keuangan      yang     disajikan,                       of financial position presented are
            dijabarkan pada kurs penutup pada                                 translated at the closing rate at the date
            tanggal laporan posisi keuangan;                                  of that statement of financial position;
        2. penghasilan dan beban untuk setiap                           2.    income and expenses for each statement
            laporan      laba      rugi    dijabarkan                         of profit or loss and other comprehensive
            menggunakan kurs rata-rata; dan                                   income are translated at average
                                                                              exchange rates; and
        3.   seluruh selisih kurs yang timbul diakui                    3.    all resulting exchange differences are
             dalam komponen ekuitas yang terpisah.                            recognized as a separate component of
                                                                              equity.

        Dalam proses konsolidasi, selisih kurs yang                     On consolidation, exchange differences arising
        timbul dari penjabaran investasi neto dalam                     from the translation of the net investment in
        kegiatan usaha luar negeri disajikan dalam                      foreign entities are taken to equity. When a
        ekuitas. Jika kegiatan usaha luar negeri                        foreign operation is sold, such exchange
        tersebut dilepaskan, maka selisih kurs yang                     differences arising from the translation of the
        berasal dari penjabaran investasi neto dalam                    net investment in such foreign operation taken
        kegiatan usaha luar negeri tersebut, yang                       to equity are recognized in profit or loss as part
        sebelumnya disajikan dalam ekuitas, diakui                      of the gain or loss on sale.
        dalam laba rugi sebagai bagian dari
        keuntungan atau kerugian penjualan.

        Pada tanggal 31 Desember 2023 and 2022,                         As at December 31, 2023 and 2022, Global
        mata uang fungsional Global Asian Investment                    Asian Investment Limited (GAI), a subsidiary,
        Limited (GAI), entitas anak, dan Sinar Mas                      and Sinar Mas Insurance (SMI), a subsidiary of
        Insurance (SMI), entitas anak ASM, masing-                      ASM, use the United States Dollar as their
        masing adalah Dolar Amerika Serikat.                            functional currency.

        Selisih kurs yang timbul dari penjabaran                        The translation of the net investment in foreign
        investasi neto dalam kegiatan usaha luar                        entities is taken to equity. When a foreign
        negeri disajikan dalam ekuitas. Jika kegiatan                   operation is sold, exchange differences arising
        usaha luar negeri tersebut dilepaskan, maka                     from the translation of the net investment in
        selisih kurs yang berasal dari penjabaran                       such foreign operation taken to equity are
        investasi neto dalam kegiatan usaha luar                        recognized in profit or loss as part of the gain
        negeri tersebut, yang sebelumnya disajikan                      or loss on sale.
        dalam ekuitas, diakui dalam laba rugi sebagai
        bagian dari laba atau rugi penjualan.

        Goodwill dan penyesuaian nilai wajar yang                       Goodwill and fair value adjustments arising on
        timbul dari akuisisi kegiatan usaha luar negeri                 the acquisition of a foreign entity are treated as
        diperlakukan sebagai aset dan liabilitas                        assets and liabilities of the foreign entity and
        kegiatan usaha luar negeri dan dijabarkan                       translated at the closing rate.
        menggunakan kurs penutup.

   e.   Transaksi Pihak Berelasi                                   e.   Transactions with Related Parties

        Orang atau entitas dikategorikan sebagai                        A person or entity is considered a related party
        pihak berelasi Grup apabila memenuhi definisi                   of the Group if it meets the definition of a
        pihak berelasi berdasarkan PSAK No. 7                           related party in PSAK No. 7 “Related Party
        “Pengungkapan Pihak-pihak Berelasi”.                            Disclosures”.




                                                          - 37 -
Page 360
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


        Semua transaksi signifikan dengan pihak                          All significant transactions with related parties
        berelasi telah diungkapkan dalam laporan                         are disclosed in the consolidated financial
        keuangan konsolidasian.                                          statements.

   f.   Kas dan Bank                                                f.   Cash and Cash in Banks

        Kas dan bank terdiri dari kas dan kas di bank,                   Cash and cash in banks consist of cash on
        serta investasi jangka pendek, dengan jangka                     hand and cash in banks, and short term
        waktu jatuh tempo tiga bulan atau kurang                         investment, with original maturities of three (3)
        sejak tanggal penempatannya dan tidak                            months or less from the date of placements,
        dijaminkan dan tidak dibatasi pencairannya.                      and which are not used as collateral and are
                                                                         not restricted.

   g.   Instrumen Keuangan                                          g.   Financial Instruments

        Grup menerapkan PSAK No. 71, Instrumen                           The Group has applied PSAK No. 71,
        Keuangan, mengenai pengaturan instrumen                          Financial   Instruments,    which      set the
        keuangan terkait klasifikasi dan pengukuran,                     requirements      in     classification    and
        penurunan nilai atas instrumen keuangan dan                      measurement, impairment in value of financial
        akuntansi lindung nilai.                                         assets and hedge accounting.

        Aset Keuangan                                                    Financial Assets

        Grup mengklasifikasikan aset keuangan                            The Group classifies its financial assets in
        sesuai dengan PSAK No. 71, Instrumen                             accordance with PSAK No. 71, Financial
        Keuangan, sehingga setelah pengakuan awal                        Instruments, that classifies financial assets as
        aset keuangan diukur pada biaya perolehan                        subsequently measured at amortized cost, fair
        diamortisasi, nilai wajar melalui penghasilan                    value through comprehensive income or fair
        komprehensif lain atau nilai wajar melalui laba                  value through profit or loss, on the basis of
        rugi, dengan menggunakan dua dasar, yaitu:                       both:

        (a) Model bisnis Grup dalam mengelola aset                       (a) The Group’s business model for
            keuangan; dan                                                    managing the financial assets; and
        (b) Karakteristik arus kas kontraktual dari aset                 (b) The contractual cash flow characteristics
            keuangan.                                                        of the financial assets.
            1. Aset keuangan pada biaya perolehan                            1. Financial assets at amortized cost
                diamortisasi
                Aset keuangan diukur pada biaya                                   A financial asset shall be measured
                perolehan diamortisasi jika kedua                                 at amortized cost if both of the
                kondisi berikut terpenuhi:                                        following conditions are met:
                a. Aset keuangan dikelola dalam                                   a. The financial asset is held within
                     model bisnis yang bertujuan                                       a    business     model    whose
                     untuk memiliki aset keuangan                                      objective is to hold financial
                     dalam rangka mendapatkan arus                                     assets in order to collect
                     kas kontraktual; dan                                              contractual cash flows; and
                b. Persyaratan kontraktual dari aset                              b. The contractual terms of the
                     keuangan menghasilkan arus                                        financial assets give rise on
                     kas pada tanggal tertentu yang                                    specified dates to cash flows that
                     semata dari pembayaran pokok                                      are solely payments of principal
                     dan bunga dari jumlah pokok                                       and interest on the principal
                     terutang.                                                         amount outstanding.

                 Aset keuangan pada biaya perolehan                               Financial assets at amortized cost is
                 diamortisasi diukur pada jumlah yang                             measured at initial amount minus the
                 diakui saat pengakuan awal dikurangi                             principal repayments, plus or minus
                 pembayaran pokok, ditambah atau                                  the cumulative amortization using the
                 dikurangi dengan amortisasi kumulatif                            effective interest method of any
                 menggunakan metode suku bunga                                    difference between that initial amount
                 efektif yang dihitung dari selisih                               and the maturity amount, adjusted for
                 antara nilai awal dan nilai jatuh                                allowance for impairment losses.
                 temponya, dan dikurangi dengan
                 cadangan kerugian penurunan nilai.


                                                           - 38 -
Page 361
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


               Pada tanggal 31 Desember 2023 dan                              As at December 31, 2023 and 2022,
               2022, kategori aset keuangan pada                              financial assets at amortized cost are
               biaya perolehan mencakup kas dan                               cash and cash in banks, securities
               bank, efek yang dibeli dengan janji                            purchased under agreements to
               jual kembali, investasi jangka pendek                          resell, short-term investments (bonds,
               (berupa obligasi, deposito berjangka,                          time deposits, placement with other
               penempatan pada bank lain dan efek-                            banks, and securities - export bill
               efek berupa tagihan wesel ekspor),                             receivables), multipurpose financing
               piutang     pembiayaan      multiguna,                         receivables,        finance       lease
               piutang sewa pembiayaan, piutang                               receivables, working capital financing
               pembiayaan modal kerja skema anjak                             with factoring scheme receivables,
               piutang, kredit yang diberikan,                                loans,     acceptance      receivables,
               tagihan akseptasi, piutang transaksi                           securities transaction receivables,
               efek, piutang lain-lain, dan aset lain-                        other accounts receivable, and other
               lain (berupa uang jaminan).                                    assets (security deposits).

          2.   Aset keuangan yang diukur pada nilai                       2. Financial assets at fair value through
               wajar        melalui     penghasilan                          other comprehensive income
               komprehensif lain
               Aset keuangan diukur pada nilai                                A financial asset shall be measured
               wajar        melalui     penghasilan                           at    fair    value    through     other
               komprehensif lain jika kedua kondisi                           comprehensive income if both of the
               berikut terpenuhi:                                             following conditions are met:
               (a) Aset keuangan dikelola dalam                               (a) The financial asset is held within
                    model bisnis yang tujuannya                                    a     business    model     whose
                    akan      terpenuhi     dengan                                 objective is achieved by both
                    mendapatkan       arus       kas                               collecting contractual cash flows
                    kontraktual dan menjual aset                                   and selling financial assets; and
                    keuangan; dan
               (b) Persyaratan kontraktual dari aset                          (b) The contractual terms of the
                    keuangan menghasilkan arus                                    financial asset give rise on
                    kas pada tanggal tertentu yang                                specified dates to cash flows that
                    semata dari pembayaran pokok                                  are solely payments of principal
                    dan bunga dari jumlah pokok                                   and interest on the principal
                    terutang.                                                     amount outstanding.

               Aset keuangan berupa surat berharga                            Debt securities financial assets which
               utang yang diukur pada nilai wajar                             are initially measured at fair value
               melalui penghasilan komprehensif                               through comprehensive income are
               lain selanjutnya diukur pada nilai                             subsequently measured at fair value
               wajar dikurangi dengan cadangan                                less allowance for impairment, with
               kerugian penurunan nilai, dengan                               unrealized gains or losses recognized
               keuntungan atau kerugian yang                                  in other comprehensive income until
               belum direalisasi diakui dalam                                 the financial assets are derecognized
               penghasilan       komprehensif    lain,                        or reclassified, at which time the
               sampai aset keuangan tersebut                                  cumulative gain or loss is reclassified
               dihentikan      pengakuannya      atau                         to profit or loss. Gains or losses from
               direklasifikasi, dimana pada saat itu                          impairment and foreign exchange and
               akumulasi keuntungan atau kerugian                             interest calculated using effective
               direklasifikasi    ke     laba    rugi.                        interest method are recognized in
               Keuntungan atau kerugian penurunan                             profit or loss.
               nilai dan selisih kurs dan bunga yang
               dihitung menggunakan metode suku
               bunga efektif diakui dalam laba rugi.




                                                         - 39 -
Page 362
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


                Aset keuangan berupa instrumen                                  Equity securities financial assets
                ekuitas yang diukur pada nilai wajar                            which are initially measured at fair
                melalui penghasilan komprehensif                                value through comprehensive income
                lain selanjutnya diukur pada nilai                              are subsequently measured at fair
                wajar, dengan keuntungan atau                                   value, with unrealized gains or losses
                kerugian yang belum direalisasi                                 recognized in other comprehensive
                diakui        dalam         penghasilan                         income. At the time the financial
                komprehensif        lain.  Saat     aset                        assets      are    derecognized     or
                keuangan         tersebut     dihentikan                        reclassified, the cumulative gain or
                pengakuannya atau direklasifikasi,                              loss is reclassified to retained
                akumulasi keuntungan atau kerugian                              earnings.
                direklasifikasi ke saldo laba.

                Pada tanggal 31 Desember 2023 dan                               As at December 31, 2023 and 2022,
                2022, kategori ini mencakup investasi                           the Group has classified short-term
                jangka pendek berupa efek-efek                                  invesments - securities (bonds,
                (berupa obligasi dan saham), aset                               shares and warrants that are traded
                pemegang polis - unit link dan                                  in Indonesia Stock Exchange),
                investasi dalam saham pada aset                                 segregated funds net assets - unit
                keuangan pada nilai wajar melalui                               link and invesment in shares of stock
                penghasilan komprehensif lain.                                  as financial assets at fair value
                                                                                through other comprehensive income.

           3.   Aset keuangan yang diukur pada nilai                       3.   Financial assets at fair value through
                wajar melalui laba rugi                                         profit or loss

                Aset keuangan diukur pada nilai                                 A financial asset shall be measured
                wajar melalui laba rugi kecuali aset                            at fair value through profit or loss
                keuangan tersebut diukur pada biaya                             unless it is measured at amortized
                perolehan diamortisasi atau pada nilai                          cost or at fair value through
                wajar      melalui        penghasilan                           comprehensive income.
                komprehensif lain.

                Derivatif juga diklasifikasikan pada                            Derivatives are also categorized as
                nilai wajar melalui laba rugi, kecuali                          fair value through profit or loss unless
                derivatif yang ditetapkan sebagai                               they are designated as effective
                instrumen lindung nilai yang efektif.                           hedging instruments.

                Aset keuangan yang diukur pada nilai                            Financial assets at FVPL are
                wajar melalui laba rugi dicatat pada                            recorded     in    the    consolidated
                laporan        posisi       keuangan                            statement of financial position at fair
                konsolidasian pada nilai wajarnya.                              value. Changes in fair value are
                Perubahan nilai wajar langsung diakui                           recognized directly in profit or loss.
                dalam laba rugi. Bunga yang                                     Interest earned is recorded as
                diperoleh dicatat sebagai pendapatan                            interest income, while dividend
                bunga,      sedangkan     pendapatan                            income is recorded as part of other
                dividen dicatat sebagai bagian dari                             income according to the terms of the
                pendapatan lain-lain sesuai dengan                              contract, or when the right of payment
                persyaratan dalam kontrak, atau pada                            has been established.
                saat     hak    untuk    memperoleh
                pembayaran atas dividen tersebut
                telah ditetapkan.

                Pada tanggal 31 Desember 2023 dan                               As at December 31, 2023 and 2022,
                2022, kategori ini mencakup investasi                           this category includes short-term
                jangka pendek berupa efek-efek                                  investments in the form of securities
                (obligasi, unit reksadana dan saham)                            (in the form of bonds, mutual fund
                yang, aset pemegang polis - unit link,                          units and shares), policyholder assets
                dan aset lain-lain berupa tagihan                               - unit links, and other assets in the
                derivatif.                                                      form of derivative receivables.



                                                           - 40 -
Page 363
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


                Investasi saham merupakan investasi                                Investments      in    shares  are
                yang tidak diperoleh dari pasar modal                              investments that are not obtained
                dan dimaksudkan untuk dimiliki dalam                               from the capital market and are
                jangka panjang terkait dengan                                      intended to be owned for the long
                keanggotaan dalam bursa efek.                                      term in connection with membership
                                                                                   in the stock exchange.

       Liabilitas Keuangan dan Instrumen Ekuitas                         Financial Liabilities and Equity Instruments

       Liabilitas keuangan dalam lingkup PSAK No.                        Financial liabilities within the scope of PSAK
       71 diklasifikasikan sebagai berikut: (i) liabilitas               No. 71 are classified as follows: (i) financial
       keuangan yang diukur dengan biaya                                 liabilities at amortized cost, (ii) financial
       diamortisasi, (ii) liabilitas keuangan yang                       liabilities at fair value through profit and loss
       diukur dengan nilai wajar melalui laba rugi.                      (FVPL).       The     Group     determines        the
       Grup      menentukan       klasifikasi   liabilitas               classification of its financial liabilities at initial
       keuangan pada saat pengakuan awal.                                recognition.

       Seluruh liabilitas keuangan diakui pada                           All financial liabilities are recognized initially at
       awalnya sebesar nilai wajar dan, dalam hal                        fair value and, in the case of loans and
       pinjaman dan utang, termasuk biaya transaksi                      borrowings, inclusive of directly attributable
       yang dapat diatribusikan secara langsung dan                      transaction costs and subsequently measured
       selanjutnya diukur pada biaya perolehan                           at amortized cost using the effective interest
       diamortisasi dengan menggunakan metode                            rate method. The amortization of the effective
       suku bunga efektif. Amortisasi suku bunga                         interest rate is included in finance costs in
       efektif disajikan sebagai bagian dari beban                       profit or loss.
       keuangan dalam laba rugi.

       1.   Liabilitas keuangan yang diukur pada                         1.   Financial liabilities at amortized cost
            biaya perolehan diamortisasi

            Liabilitas keuangan pada biaya perolehan                          Financial liabilities at amortized cost is
            diamortisasi diukur pada jumlah yang                              measured at initial amount minus the
            diakui saat pengakuan awal dikurangi                              principal repayments, plus or minus the
            pembayaran pokok, ditambah atau                                   cumulative amortization using the effective
            dikurangi dengan amortisasi kumulatif                             interest method of any difference between
            menggunakan metode suku bunga efektif                             initial amount and the maturity amount.
            yang dihitung dari selisih antara nilai awal
            dan nilai jatuh temponya.

            Pada tanggal 31 Desember 2023 dan                                 As at December 31, 2023 and 2022, the
            2022, kategori ini meliputi simpanan dan                          Group has classified deposits and
            simpanan dari bank lain, liabilitas                               deposits from other banks, acceptance
            akseptasi, utang transaksi efek, beban                            payables, securities transaction payables,
            akrual, surat berharga yang diterbitkan,                          accrued expenses, securities issued,
            pinjaman yang diterima, dan liabilitas lain-                      loans received, and other liabilities.
            lain.

       2.   Liabilitas keuangan yang diukur pada nilai                   2.   Financial Liabilities at FVPL
            wajar melalui laba rugi

            Liabilitas keuangan diklasifikasikan dalam                        Financial liabilities are classified in this
            kategori ini apabila liabilitas tersebut                          category if these result from trading
            merupakan        hasil    dari     aktivitas                      activities or derivative transactions that
            perdagangan atau transaksi derivatif yang                         are not accounted for as accounting
            tidak dimaksudkan sebagai lindung nilai,                          hedges, or when the Group elects to
            atau jika Grup memilih untuk menetapkan                           designate a financial liability under this
            liabilitas   keuangan    tersebut    dalam                        category.
            kategori ini.

            Perubahan dalam nilai wajar langsung                              Changes in fair value are recognized
            diakui dalam laba rugi.                                           directly in profit or loss.




                                                             - 41 -
Page 364
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


           Pada tanggal 31 Desember 2023 dan                                 As at December 31, 2023 and 2022, this
           2022, kategori ini mencakup dana                                  category includes segregated funds
           pemegang polis unit link dan liabilitas lain-                     contract liabilities - unit link and other
           lain berupa liabilitas derivatif.                                 liabilities such as derivative liabilities.
       Instrumen Keuangan Derivatif                                     Derivative Financial Instruments
       Dalam usaha normalnya, Grup melakukan                            In the normal course of business, the Group
       transaksi instrumen keuangan derivatif berupa                    enters into transactions involving derivative
       kontrak tunai dan berjangka mata uang asing.                     financial instruments such as foreign currency
       Instrumen keuangan derivatif diukur dan                          spot and forward contracts and foreign
       disajikan di laporan posisi keuangan pada nilai                  currency       swaps.      Derivative     financial
       wajar dengan menggunakan harga pasar.                            instruments are measured and presented in
       Derivatif dicatat sebagai aset apabila memiliki                  the consolidated statement of financial position
       nilai wajar positif dan sebagai liabilitas apabila               at their fair values. Derivatives are carried as
       memiliki nilai wajar negatif. Keuntungan atau                    assets when the fair value is positive and as
       kerugian yang terjadi dari perubahan nilai                       liabilities when the fair value is negative. Gains
       wajar diakui dalam laba/rugi.                                    or losses as a result of fair value changes are
                                                                        recognized in profit or loss.

       Saling Hapus Instrumen Keuangan                                  Offsetting of Financial Instruments

       Aset keuangan dan liabilitas keuangan saling                     Financial assets and liabilities are offset and
       hapus dan nilai bersihnya disajikan dalam                        the net amount reported in the consolidated
       laporan posisi keuangan konsolidasian jika,                      statement of financial position if, and only if,
       dan hanya jika, Grup saat ini memiliki hak                       there is a currently enforceable right to offset
       yang berkekuatan hukum untuk melakukan                           the recognized amounts and there is intention
       saling hapus atas jumlah yang telah diakui                       to settle on a net basis, or to realize the asset
       tersebut; dan berniat untuk menyelesaikan                        and settle the liability simultaneously.
       secara neto atau untuk merealisasikan aset
       dan menyelesaikan liabilitasnya secara
       simultan.

       Reklasifikasi Aset Keuangan                                      Reclassifications of Financial Instruments

       Sesuai dengan ketentuan PSAK No. 71,                             In accordance with PSAK No. 71, Financial
       Instrumen Keuangan, Grup mereklasifikasi                         Instruments, the Group reclassifies its financial
       seluruh aset keuangan dalam kategori yang                        assets when, and only when, the Group
       terpengaruh, jika dan hanya jika, Grup                           changes its business model for managing
       mengubah model bisnis untuk pengelolaan                          financial assets. While, any financial liabilities
       aset keuangan tersebut. Sedangkan liabilitas                     shall not be reclassified.
       keuangan tidak direklasifikasi.

       Penurunan Nilai Aset Keuangan                                    Impairment of Financial Assets

       Pada setiap tanggal pelaporan, Grup menilai                      At each reporting date, the Group assesses
       apakah risiko kredit dari instrumen keuangan                     whether the credit risk on a financial
       telah meningkat secara signifikan sejak                          instrument has increased significantly since
       pengakuan awal. Ketika melakukan penilaian,                      initial   recognition.    When     making      the
       Grup mengacu pada perubahan atas risiko                          assessment, the Group uses the change in the
       gagal bayar yang terjadi sepanjang perkiraan                     risk of a default occurring over the expected
       usia instrumen keuangan daripada perubahan                       life of the financial instrument instead of the
       atas jumlah kerugian kredit ekspektasian                         change in the amount of expected credit
       (Expected Credit Losses atau “ECL”). Dalam                       losses (“ECL”). To make that assessment, the
       melakukan       penilaian,      Grup     juga                    Group compares the risk of a default occurring
       membandingkan antara risiko gagal bayar                          on the financial instrument as at the reporting
       yang terjadi atas instrumen keuangan pada                        date with the risk of a default occurring on the
       saat periode pelaporan dengan risiko gagal                       financial instrument as at the date of initial
       bayar yang terjadi atas instrumen keuangan                       recognition and consider reasonable and
       pada      saat    pengakuan      awal     dan                    supportable information, that is available
       mempertimbangkan          kewajaran     serta                    without undue cost or effort at the reporting
       ketersediaan informasi, yang tersedia tanpa                      date about past events, current conditions and
       biaya atau usaha pada saat tanggal pelaporan                     forecasts of future economic conditions, that is
       terkait dengan kejadian masa lalu, kondisi                       indicative of significant increases in credit risk


                                                            - 42 -
Page 365
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       terkini dan perkiraan atas kondisi ekonomi di                 since initial recognition. If at the reporting date,
       masa depan, yang mengindikasikan kenaikan                     the credit risk of the financial asset has not
       risiko kredit sejak pengakuan awal. Jika pada                 increased significantly since the initial
       tanggal pelaporan, risiko kredit atas instrumen               recognition, the Group measures the loss
       keuangan tidak meningkat secara signifikan                    allowance for the financial asset using 12-
       sejak pengukuran awal, maka Grup akan                         months ECL. If the credit risk of the financial
       mengukur cadangan kerugian untuk aset                         asset has increased significantly, the lifetime
       keuangan tersebut sejumlah ECL 12 bulan.                      ECL is used in the measurement of the loss
       Jika risiko kredit atas aset keuangan                         allowance for the financial asset.
       meningkat        secara    signifikan,     maka
       pengukuran cadangan kerugian untuk aset
       keuangan       tersebut  menggunakan        ECL
       sepanjang umurnya (lifetime).

       Grup menggunakan pendekatan 3 tahapan                         The Group uses 3 stages approach to
       dalam mengukur penurunan nilai (Tahap 1,                      measure impairment for financial assets
       Tahap 2 dan Tahap 3) dengan menentukan                        (Stage 1, Stage 2 and Stage 3) by determining
       apakah terjadi peningkatan risiko kredit yang                 whether a significant increase in credit risk has
       signifikan atas aset keuangan sejak awal atau                 occurred on financial asset since initial
       fasilitas tersebut gagal bayar pada tanggal                   recognition or whether the facility is defaulted
       pelaporan.                                                    on the reporting date.

       1.   Tahap 1 - Kerugian kredit ekspektasian                   1.   Stage 1 – 12 month expected credit
            (“ECL”) 12 bulan                                              losses

            Tahap 1 mencakup aset keuangan yang                           Stage 1: includes financial assets that
            tidak memiliki peningkatan signifikan atas                    have not had a significant increase in
            risiko kredit sejak pengakuan awal atau                       credit risk since initial recognition or that
            memiliki risiko kredit rendah pada tanggal                    have low credit risk at the reporting date.
            pelaporan. Untuk aset ini, ECL 12 bulan                       For these assets, 12-month ECL is
            akan dihitung.                                                recognized.

            Aset keuangan yang dikategorikan                              Financial assets categorized as Stage 1
            sebagai Tahap 1 adalah aset keuangan                          are financial assets that are 30 days
            dengan hari tunggakan kurang atau sama                        overdue or less.
            dengan 30 hari.

       2.   Tahap 2 - Peningkatan risiko kredit                      2.   Stage 2 - Significant increase in credit
            yang signifikan                                               risk

            Tahap 2 mencakup aset keuangan yang                           Stage 2: includes financial assets that
            mengalami peningkatan signifikan atas                         have had a significant increase in credit
            risiko kredit, namun tidak memiliki bukti                     risk but do not have objective evidence of
            penurunan nilai yang obyektif. Untuk aset                     impairment. For these assets, lifetime
            ini, ECL lifetime dihitung.                                   ECL is recognized.

            Aset keuangan yang dianggap telah                             Financial assets are considered to
            mengalami peningkatan risiko kredit yang                      experience significant increase in credit
            signifikan dan dikategorikan sebagai                          risk and categorized as Stage 2 are
            Tahap 2 adalah aset keuangan dengan                           financial assets that are overdue for 31-90
            hari tunggakan dari 31-90 hari. Aset                          days. Financial instrument that has
            keuangan      yang   telah   mengajukan                       proposed restructure program, are
            program restrukturisasi, juga dianggap                        considered to experience significant
            telah mengalami peningkatan risiko kredit                     increase in credit risk, thus categorized as
            yang      signifikan   sehingga     akan                      Stage 2.
            dikategorikan sebagai Tahap 2.




                                                         - 43 -
Page 366
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


       3.   Tahap 3 - Eksposur yang mengalami                           3. Stage 3 - Credit impaired (or defaulted)
            penurunan nilai kredit atau gagal bayar                        exposures

            Tahap 3 mencakup aset keuangan yang                             Stage 3 includes financial assets that
            memiliki bukti obyektif penurunan nilai                         have objective evidence of impairment at
            pada tanggal pelaporan. Tahap ini berisi                        the reporting date. This stage includes
            debitur yang telah impaired (gagal bayar).                      accounts of debtors that are already
                                                                            impaired (defaulted).

            Aset keuangan yang dikategorikan                                Financial assets categorized as Stage 3
            sebagai Tahap 3 adalah aset keuangan                            are financial assets that are overdue for
            dengan hari tunggakan lebih dari 90 hari.                       more than 90 days.

       Faktor utama dalam menentukan apakah aset                       The key factor in determining whether a
       keuangan memerlukan ECL 12 bulan (Tahap                         financial asset needs 12-month (Stage 1) or
       1) atau ECL lifetime (Tahap 2) disebut dengan                   lifetime ECL (Stage 2) is based on the criteria
       kriteria Peningkatan Signifikan dalam Risiko                    of Significant Increase in Credit Risk (SICR).
       Kredit (Significant Increase in Credit Risk atau                Determining significant increase in credit risk
       “SICR”). Penentuan kriteria SICR memerlukan                     (SICR) criteria involves assessment of whether
       pengkajian apakah telah terjadi peningkatan                     there has been a significant increase in credit
       risiko kredit yang signifikan pada tanggal                      risk at reporting date.
       pelaporan.

       PSAK No. 71 mensyaratkan penyertaan                             PSAK No. 71 requires inclusion of information
       informasi tentang kejadian masa lalu, kondisi                   about past events, current conditions, and
       saat ini, dan perkiraan kondisi ekonomi masa                    forecasts of future economic conditions. The
       depan. Perkiraan perubahan dalam kerugian                       estimates of changes in expected credit losses
       kredit yang diharapkan harus mencerminkan                       should reflect and be directionally consistent
       dan secara langsung konsisten dengan                            with changes in related observable data from
       perubahan dalam data terkait yang diobservasi                   period to period. The calculation of ECL
       dari periode ke periode. Perhitungan ECL ini                    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).
       (LGD), dan Exposure at Default (EAD).

       1.   Probability of Default (“PD”)                              1.   Probability of Default (“PD”)

            Probabilitas yang timbul di suatu waktu                         The probability at a point in time that a
            dimana debitur mengalami gagal bayar,                           counterparty will default, calibrated over
            dikalibrasikan sampai dengan periode 12                         up to 12-month from the reporting date
            bulan dari tanggal laporan (Tahap 1) atau                       (Stage 1) or over the lifetime of the
            lifetime (Tahap 2 dan 3) dan digabungkan                        product (Stage 2 and 3) and incorporated
            pada dampak asumsi ekonomi masa                                 with the impact of forward-looking
            depan yang memiliki risiko kredit. PD                           economic assumptions that have an effect
            diestimasikan pada suatu titik waktu (point                     on credit risk. PD estimated at a point in
            in time) dimana hal ini berfluktuasi sejalan                    time that means it will fluctuate in line with
            dengan siklus ekonomi.                                          the economic cycle.

       2.   Loss Given Default (“LGD”)                                 2.   Loss Given Default (“LGD”)

            Kerugian yang diperkirakan akan timbul                          The loss that is expected to arise from
            dari debitur yang mengalami gagal bayar                         debitors who defaulted, incorporating the
            dengan menggabungkan dampak dari                                impact    of   relevant   forward-looking
            asumsi ekonomi masa depan yang                                  economic assumptions (if any), which
            relevan (jika ada) dimana hal ini mewakili                      represents the difference between the
            perbedaan antara arus kas kontraktual                           contractual cash flows due and those that




                                                           - 44 -
Page 367
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


            yang akan jatuh tempo dengan arus kas                            the Group expects to receive. The Group
            yang diharapkan untuk diterima. Grup                             estimates LGD based on the historical
            mengestimasikan LGD berdasarkan data                             recovery rates and considers the recovery
            historis dari tingkat pemulihan dan                              of all assets managed by the Group,
            memperhitungkan      pemulihan    yang                           taking into account forward-looking
            berasal dari seluruh aset yang dikelola                          economic assumptions.
            oleh Grup dengan mempertimbangkan
            asumsi ekonomi masa depan.

        3. Exposure of Default (“EAD”)                                    3. Exposure of Default (“EAD”)

            Perkiraan nilai eksposur laporan posisi                          The expected statement of financial
            keuangan pada saat gagal bayar dengan                            position exposure at the time of default,
            mempertimbangkan bahwa perubahan                                 taking into account that expected change
            ekspektasi yang diharapkan selama masa                           in exposure over the lifetime of the
            eksposur.    Hal   ini  menggabungkan                            exposure. This incorporates the impact of
            dampak penarikan fasilitas yang hampir                           drawdowns of committed facilities,
            pasti terjadi (committed), pembayaran                            repayments of principal and interest,
            pokok dan bunga, amortisasi dan                                  amortization and prepayments, with the
            pembayaran dipercepat, bersama dengan                            impact of forward-looking economic
            dampak asumsi ekonomi masa depan.                                assumptions.

       Penghentian Pengakuan Aset dan Liabilitas                          Derecognition of Financial Assets and
       Keuangan                                                           Liabilities

       1.   Aset Keuangan                                                 1. Financial Assets

            Aset keuangan (atau bagian dari aset                             Financial asset (or, where applicable, a
            keuangan atau kelompok aset keuangan                             part of a financial asset or part of a group
            serupa) dihentikan pengakuannya jika:                            of similar financial assets) is derecognized
                                                                             when:
            a.   Hak kontraktual atas arus kas yang                          a. The rights to receive cash flows from
                 berasal dari aset keuangan tersebut                              the financial asset have expired;
                 berakhir;
            b.   Grup tetap mempertahankan hak                               b.   The Group retains the right to receive
                 untuk menerima arus kas dari aset                                cash flows from the financial asset,
                 keuangan tersebut, namun juga                                    but has assumed an obligation to pay
                 menanggung liabilitas kontraktual                                them in full without material delay to a
                 untuk membayar arus kas yang                                     third party under a “pass-through”
                 diterima tersebut kepada satu atau                               arrangement; or
                 lebih pihak penerima melalui suatu
                 kesepakatan; atau
            c.   Grup      telah    mengalihkan    hak                       c.   The Group has transferred its rights
                 kontraktual untuk menerima arus kas                              to receive cash flows from the asset
                 dari aset keuangan dan (i) telah                                 and either (i) has transferred
                 secara      substansial  mengalihkan                             substantially all the risks and rewards
                 seluruh risiko dan manfaat atas aset                             of the financial asset, or (ii) has
                 keuangan, atau (ii) secara substansial                           neither transferred nor retained
                 tidak mengalihkan atau tidak memiliki                            substantially all the risks and rewards
                 seluruh risiko dan manfaat atas aset                             of the financial asset, but has
                 keuangan, namun telah mengalihkan                                transferred control of the financial
                 pengendalian atas aset keuangan                                  asset.
                 tersebut.

       2.   Liabilitas Keuangan                                      2.     Financial Liabilities

            Liabilitas      keuangan         dihentikan                     A financial liability is derecognized when
            pengakuannya jika liabilitas keuangan                           the obligation under the contract is
            tersebut dilepaskan, dibatalkan, atau telah                     discharged, cancelled or has expired.
            kadaluarsa.




                                                          - 45 -
Page 368
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


   h.   Pengukuran Nilai Wajar                                     h.   Fair Value Measurement

        Pengukuran nilai wajar didasarkan pada                          The fair value measurement is based on the
        asumsi bahwa transaksi untuk menjual aset                       presumption that the transaction to sell the
        atau mengalihkan liabilitas akan terjadi:                       asset or transfer the liability takes place either:
        •   di pasar utama untuk aset atau liabilitas                   •   in the principal market for the asset or
            tersebut atau;                                                  liability or;
        •   jika tidak terdapat pasar utama, di pasar                   •   in the absence of a principal market, in the
            yang paling menguntungkan untuk aset                            most advantageous market for the asset
            atau liabilitas tersebut.                                       or liability.

        Grup harus memiliki akses ke pasar utama                        The Group must have access to the principal
        atau pasar yang paling menguntungkan pada                       or the most advantageous market at the
        tanggal pengukuran.                                             measurement date.

        Nilai wajar aset atau 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                       participants would use when pricing the asset
        atau liabilitas tersebut, dengan asumsi bahwa                   or liability, assuming that market participants
        pelaku pasar bertindak dalam kepentingan                        act in their economic best interest.
        ekonomi terbaiknya.

        Pengukuran nilai wajar aset non-keuangan                        A fair value measurement of a non-financial
        memperhitungkan kemampuan pelaku pasar                          asset takes into account a market participant’s
        untuk menghasilkan manfaat ekonomik                             ability to generate economic benefits by using
        dengan    menggunakan          aset  dalam                      the asset in its highest and best use or by
        penggunaan tertinggi dan terbaiknya, atau                       selling it to another market participant that
        dengan menjualnya kepada pelaku pasar lain                      would use the asset in its highest and best
        yang akan menggunakan aset tersebut dalam                       use.
        penggunaan tertinggi dan terbaiknya.

        Ketika Grup menggunakan teknik penilaian,                       When the Group uses valuation techniques, it
        maka Grup memaksimalkan penggunaan input                        maximizes the use of relevant observable
        yang dapat diobservasi yang relevan dan                         inputs and minimizing the use of unobservable
        meminimalkan penggunaan input yang tidak                        inputs.
        dapat diobservasi.

        Seluruh aset dan liabilitas yang mana nilai                     All assets and liabilities for which fair value is
        wajar aset atau liabilitas tersebut diukur atau                 measured or disclosed in the financial
        diungkapkan, dikategorikan dalam hirarki nilai                  statements are categorized within the fair
        wajar sebagai berikut:                                          value hierarchy as follows:
        •   Level 1 - harga kuotasian (tanpa                            •    Level 1 - Quoted (unadjusted) market
            penyesuaian) di pasar aktif untuk aset                           prices in active markets for identical
            atau liabilitas yang identik;                                    assets or liabilities;
        •   Level 2 - teknik penilaian dimana level                     •    Level 2 - Valuation techniques for which
            input terendah yang signifikan terhadap                          the lowest level input that is significant to
            pengukuran nilai wajar dapat diobservasi,                        the fair value measurement is directly or
            baik secara langsung maupun tidak                                indirectly observable;
            langsung;
        •   Level 3 - teknik penilaian dimana level                     •    Level 3 - Valuation techniques for which
            input terendah yang signifikan terhadap                          the lowest level input that is significant to
            pengukuran nilai wajar tidak dapat                               the    fair   value     measurement        is
            diobservasi.                                                     unobservable.




                                                          - 46 -
Page 369
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


        Untuk aset dan liabilitas yang diukur pada nilai                 For assets and liabilities that are recognized in
        wajar secara berulang dalam laporan                              the consolidated financial statements on a
        keuangan      konsolidasian,     maka     Grup                   recurring basis, the Group determines whether
        menentukan apakah telah terjadi transfer di                      there are transfers between levels in the
        antara level hirarki dengan menilai kembali                      hierarchy by re-assessing categorization at
        pengkategorian level nilai wajar pada setiap                     the end of each reporting period.
        akhir periode pelaporan.

   i.   Efek-efek                                                   i.   Securities

        Efek-efek yang dimiliki terdiri dari Sertifikat                  Securities consist of SBI, Bank Indonesia
        Bank Indonesia, Sertifikat Deposito Bank                         Deposit Certificates, bonds, mutual funds,
        Indonesia, obligasi, Reksadana, surat utang                      medium-term debt securities, export bills, and
        jangka menengah, tagihan wesel ekspor, dan                       other money market and capital market
        efek-efek pasar uang dan pasar modal lainnya.                    securities. Securities are presented as short
        Efek-efek disajikan dalam akun “Investasi                        term investments.
        jangka pendek”.

        Obligasi terdiri dari Obligasi Pemerintah dan                    Bonds consist of Government Bonds and
        Obligasi Korporasi yang dibeli dari pasar.                       Corporate Bonds purchased from the market.

        Investasi Sukuk                                                  Investment in Sukuk

        Investasi sukuk yang diukur pada biaya                           Investment in sukuk is initially measured at
        perolehan pada awalnya diakui sebesar biaya                      cost, including transaction costs. The
        perolehan, termasuk biaya transaksi. Selisih                     difference between the acquisition cost and the
        antara biaya perolehan dan nilai nominal                         nominal value is amortized on a straight-line
        diamortisasi secara garis lurus selama jangka                    basis over the term of the sukuk. If indication
        waktu sukuk dan diakui dalam laba rugi. Rugi                     of impairment exists then the amount of
        penurunan nilai diakui dalam laba rugi apabila                   impairment loss is measured as the difference
        jumlah terpulihkan lebih kecil daripada jumlah                   between the recoverable amount of sukuk and
        tercatat.                                                        its carrying value.

        Investasi sukuk yang diukur pada nilai wajar                     Investment in sukuk measured at fair value
        melalui laba rugi pada awalnya diakui sebesar                    through profit or loss are initially recognized at
        biaya perolehan, tidak termasuk biaya                            cost, excluding transaction costs. After initial
        transaksi. Setelah pengakuan awal, selisih                       recognition, the difference between the fair
        antara nilai wajar dan jumlah tercatat diakui                    value and the carrying amount is recognized in
        dalam laba rugi.                                                 profit or loss.

        Investasi sukuk yang diukur pada nilai wajar                     Investment in sukuk measured at fair value
        melalui penghasilan komprehensif lain pada                       through other comprehensive income are
        awalnya diakui sebesar biaya perolehan,                          initially    recognized  at     cost,   including
        termasuk biaya transaksi. Setelah pengakuan                      transaction costs. After initial recognition, the
        awal, selisih antara biaya perolehan dan nilai                   difference between the acquisition cost and
        nominal diamortisasi secara garis lurus selama                   nominal value is amortized on straight-line
        jangka waktu sukuk dan diakui dalam laba                         basis over the term of the sukuk and
        rugi.   Keuntungan      atau   kerugian    dari                  recognized in profit or loss. Gains or losses
        perubahan      nilai   wajar   diakui    dalam                   from changes in fair value is recognized in
        penghasilan     komprehensif     lain.   Ketika                  other comprehensive income. When the
        investasi sukuk dihentikan pengakuannya,                         investments in sukuk are derecognised, the
        akumulasi keuntungan atau kerugian yang                          cumulative gain or loss previously recognized
        sebelumnya      diakui    dalam    penghasilan                   in other comprehensive income is reclassified
        komprehensif lain direklasifikasi ke laba rugi                   to profit or loss as a reclassification
        sebagai penyesuaian reklasifikasi. Rugi                          adjustment. An impairment loss is recognized
        penurunan nilai diakui dalam laba rugi apabila                   in profit or loss when the recoverable amount
        jumlah terpulihkan lebih kecil daripada jumlah                   is less than the carrying amount, after taking
        tercatat, setelah memperhitungkan saldo                          into      account    the  balance     in    other
        dalam penghasilan komprehensif lain.                             comprehensive income.



                                                           - 47 -
Page 370
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


   j.   Efek yang Dibeli dengan Janji Jual Kembali                   j.   Securities Purchased Under Agreements to
        dan Efek yang Dijual dengan Janji Beli                            Resell    and   Securities  Sold  Under
        Kembali                                                           Agreements to Repurchase

        Efek yang Dibeli dengan Janji Jual Kembali                        Securities Purchased Under Agreements to
        (Reverse Repo)                                                    Resell (Reverse Repo)

        Efek yang dibeli dengan janji dijual kembali                      Securities purchased under resale agreements
        (reverse repo) disajikan sebagai tagihan                          (reverse repo) are presented as receivables at
        sebesar harga jual kembali yang disepakati                        the agreed resale price net of the difference
        dikurangi dengan selisih antara harga beli dan                    between the purchase price and agreed resale
        harga      jual    kembali     yang    disepakati                 price (unearned interest income) and
        (pendapatan bunga yang ditangguhkan) dan                          allowance for impairment losses. The
        cadangan kerugian penurunan nilai. Selisih                        difference between the purchase price and the
        antara harga beli dan harga jual kembali yang                     agreed resale price are amortised using
        disepakati tersebut diamortisasi dengan                           effective interest rate as interest income over
        menggunakan suku bunga efektif sebagai                            the period, commencing from the acquisition
        pendapatan bunga selama jangka waktu sejak                        date to the resale date.
        efek itu dibeli hingga saat dijual kembali.

        Efek yang Dijual dengan Janji Beli Kembali                        Securities Sold Under         Agreements      to
        (Repo)                                                            Repurchase (Repo)

        Efek yang dijual dengan janji beli kembali                        Securities sold under agreements to
        (repo) diakui sebagai liabilitas sebesar harga                    repurchase (repo) are recognized as liabilities
        pembelian kembali yang disepakati dengan                          at the repurchase price agreed with the
        nasabah dikurangi beban bunga yang belum                          customer less unamortized interest expense.
        diamortisasi. Selisih antara harga jual dan                       The difference between the selling price and
        harga beli kembali diperlakukan sebagai                           the repurchase price is treated as prepaid
        bunga dibayar dimuka dan diakui sebagai                           interest expense and recognized as interest
        beban bunga sesuai dengan jangka waktu                            expense over the period from the sale of
        sejak efek dijual hingga dibeli kembali. Efek                     securities until it is repurchased. Securities
        yang dijual tetap dicatat sebagai aset dalam                      sold are recorded as assets in statements of
        laporan posisi keuangan karena kepemilikan                        financial position since the ownership of the
        efek tetap berada pada pihak Perusahaan                           securities remains with the Company as the
        sebagai penjual.                                                  seller.

   k.   Pembiayaan Multiguna                                         k.   Multipurpose Financing Receivables

        Pembiayaan multiguna adalah kegiatan                              Multipurpose financing is financing activity for
        pembiayaan   untuk    pengadaan barang                            procurement of goods based on the needs of
        berdasarkan kebutuhan konsumen dengan                             consumer with payment by installments.
        pembayaran secara angsuran.

        Sehubungan dengan pembiayaan bersama                              In relation to joint multipurpose financing
        dan penerusan kredit dengan pihak lain,                           transactions and channeling of multipurpose
        kewajiban Grup adalah melakukan penagihan                         financing receivables with other parties, the
        dan administrasi dari piutang-piutang yang                        Group’s responsibility is to collect and
        dialihkan. Selisih antara suku bunga yang                         administer the transferred multipurpose
        dibebankan Grup kepada nasabah dengan                             financing receivables. The difference between
        suku bunga yang ditetapkan oleh investor                          the interest charged to the customers by the
        merupakan pendapatan bagi Grup dan                                Group and the interest charged by the
        dikreditkan langsung dalam akun “Pendapatan                       investors is recognized as income by the
        pembiayaan multiguna” pada laba rugi.                             Group       and directly credited to the
                                                                          “Multipurpose financing income” account in the
                                                                          profit or loss.




                                                            - 48 -
Page 371
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


        Apabila pembiayaan bersama dan penerusan                        In joint financing and credit channeling
        kredit dilakukan secara with recourse, Grup                     transactions on a with recourse basis, the
        akan membukukan aset dan liabilitas dari                        Group recognizes assets or liabilities in its
        transaksi tersebut. Namun apabila dilakukan                     books. In joint financing and credit channeling
        secara without recourse, aset dari transaksi                    transactions on a without recourse basis, the
        tersebut akan disajikan secara bersih di                        assets are presented at net amounts in the
        laporan posisi keuangan konsolidasian.                          consolidated statements of financial position.

        Piutang dinyatakan tidak tertagih apabila                       Receivables are deemed uncollectible if the
        debitur sudah tidak mampu membayar dan                          debtors are unable to pay and, and have been
        atau sulit untuk ditagih, serta telah menunggak                 delinquent for more than 90 days for the
        lebih dari 90 hari untuk pembiayaan motor dan                   financing of the motor vehicle and 120 days for
        120 hari untuk pembiayaan mobil.                                car financing.

        Grup melakukan penarikan jaminan atas                           The Group repossesses the collateral – vehicle
        kendaraan apabila setelah dikeluarkannya                        if the consumers had not made payments
        Surat Peringatan (SP) sebanyak 2 kali dan                       despite issuance of two collection letters.
        konsumen tidak melakukan pembayaran.                            When the collateral-vehicle has been
        Ketika jaminan kendaraan ditarik dari                           repossessed from the consumers, the
        konsumen, piutang pembiayaan multiguna                          consumer financing receivables are written off.
        dihapuskan.

        Ketika suatu piutang tidak tertagih, piutang                    When the receivables are uncollectible, those
        tersebut dihapus buku dengan menjurnal balik                    are written-off by reversing the allowance for
        cadangan kerugian penurunan nilai. Piutang                      impairment loss. Receivables are written-off
        tersebut dapat dihapus buku setelah semua                       after all the necessary procedures have been
        prosedur yang diperlukan telah dilakukan dan                    conducted and the amount of the loss has
        jumlah kerugian telah ditentukan. Penerimaan                    been determined. Recoveries on receivables
        kembali     atas    piutang     yang    telah                   written off in the current period or in prior
        dihapusbukukan pada periode berjalan                            periods are credited to allowance for
        ataupun periode yang telah lalu, dikreditkan                    impairment losses.
        pada akun cadangan kerugian penurunan nilai.

   l.   Transaksi Sewa                                             l.   Lease Transactions

        Grup menerapkan PSAK No. 73 yang                                The Group has applied PSAK No. 73, which
        mensyaratkan pengakuan liabilitas sewa                          set the requirement for the recognition of lease
        sehubungan dengan sewa yang sebelumnya                          liabilities in relation to leases which had been
        diklasifikasikan sebagai ‘sewa operasi’.                        previously classified as operating lease.

        Sebagai penyewa                                                 As Lessee

        Pada tanggal permulaan kontrak, Grup menilai                    At the inception of a contract, the Group
        apakah     kontrak      merupakan,     atau                     assesses whether the contract is, or contains,
        mengandung, sewa. Suatu kontrak merupakan                       a lease. A contract is or contains a lease if the
        atau mengandung sewa jika kontrak tersebut                      contract conveys the right to control the use of
        memberikan    hak    untuk    mengendalikan                     an identified assets for a period of time in
        penggunaan aset identifikasian selama suatu                     exchange for consideration.
        jangka waktu untuk dipertukarkan dengan
        imbalan.

        Untuk menilai apakah kontrak memberikan hak                     To assess whether a contract conveys the
        untuk mengendalikan penggunaan aset                             right to control the use of an identified asset,
        identifikasian, Grup harus menilai apakah:                      the Group shall assesses whether:
        -   Grup memiliki hak untuk mendapatkan                         -    The Group has the right to obtain
            secara subtansial seluruh          manfaat                       substantially all the economic benefits
            ekonomi        dari   penggunaan       aset                      from use of the asset throughout the
            identifikasian; dan                                              period of use; and




                                                          - 49 -
Page 372
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


       -   Grup memiliki hak untuk mengarahkan                      -    The Group has the right to direct the use
           penggunaan aset identifikasian. Grup                          of the asset. The Group has this right
           memiliki hak ini ketika Grup memiliki hak                     when it has the decision-making rights
           untuk pengambilan keputusan yang                              that are the most relevant to changing
           relevan tentang bagaimana dan untuk                           how and for what purpose the asset is
           tujuan apa aset digunakan telah                               used are predetermined:
           ditentukan sebelumnya dan:
           1. Grup       memiliki     hak      untuk                    1.    The Group has the right to operate
                mengoperasikan aset;                                          the asset;
           2. Grup telah mendesain aset dengan                           2.   The Group has designed the asset in
                cara    menetapkan      sebelumnya                            a way that predetermined how and for
                bagaimana dan untuk tujuan apa aset                           what purpose it will be used.
                akan digunakan selama periode
                penggunaan.

       Pada tanggal awal dimulainya kontrak atau                    At the inception or on reassessment of a
       pada tanggal penilaian kembali atas kontrak                  contract that contains a lease component, the
       yang mengandung sebuah komponen sewa,                        Group allocates the consideration in the
       Grup mengalokasikan imbalan dalam kontrak                    contract to each lease component on the basis
       ke     masing-masing    komponen      sewa                   of their relative stand-alone prices and the
       berdasarkan harga tersendiri relatif dari                    aggregate stand-alone price of the non-lease
       komponen sewa dan harga tersendiri agregat                   components.
       dari komponen nonsewa.

       Pada tanggal permulaan sewa, Grup                            The Group recognizes a right-of-use assets
       mengakui aset hak-guna dan liabilitas sewa.                  and a lease liability at the lease
       Kecuali sewa jangka pendek dan sewa aset                     commencement date. Except for short term
       pendanaan yang bernilai rendah. Aset hak-                    leases and leases of low value assets. The
       guna diukur pada biaya perolehan, dimana                     right of-use assets are initially measured at
       meliputi jumlah pengukuran awal liabilitas                   cost, which comprises the initial amount of the
       sewa yang disesuaikan dengan pembayaran                      lease liability adjusted for any lease payment
       sewa yang dilakukan pada atau sebelum                        made at or before the commencement date.
       tanggal permulaan.

       Aset    hak-guna    kemudian      disusutkan                 The right-of-use assets are subsequently
       menggunakan metode garis lurus dari tanggal                  depreciated using the straight-line method
       permulaan hingga tanggal yang lebih awal                     from the commencement date to the earlier of
       antara akhir umur manfaat aset hak-guna atau                 the end of the useful life of the right-of-use
       akhir masa sewa.                                             assets or the end of the lease term.

       Liabilitas sewa diukur pada nilai kini                       The lease liability is initially measured at the
       pembayaran sewa yang belum dibayar pada                      present value of the lease payments that are
       tanggal permulaan, didiskontokan dengan                      not paid at the commencement date,
       menggunakan suku bunga implisit dalam sewa                   discounted using the interest rate implicit in the
       atau jika suku bunga tersebut tidak dapat                    lease or, if that rate cannot be readily
       ditentukan, maka menggunakan suku bunga                      determined, using incremental borrowing rate.
       pinjaman inkremental. Pada umumnya, Grup                     Generally, the Group uses its incremental
       menggunakan      suku      bunga     pinjaman                borrowing rate as the discount rate.
       inkremental sebagai tingkat bunga diskonto.

       Pembayaran sewa yang termasuk dalam                          Lease payments included in the measurement
       pengukuran      liabilitas  sewa      meliputi               of the lease liability comprise the following:
       pembayaran berikut ini:
       -   pembayaran tetap, termasuk pembayaran                    -    fixed payments, including in-substance
           tetap secara substansi;                                       fixed payments;
       -   pembayaran        sewa   variabel   yang                 -    variable lease payments that depend on
           bergantung pada indeks atau suku bunga                        an index or a rate, initially measured using
           yang pada awalnya diukur dengan                               the index or rate as at the commencement
           menggunakan indeks atau suku bunga                            date;
           pada tanggal permulaan;




                                                        - 50 -
Page 373
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       -   jumlah yang diperkirakan akan dibayarkan                  -    amounts expected to be payable under a
           oleh penyewa dengan jaminan nilai                              residual value guarantee;
           residual;
       -   harga eksekusi opsi beli jika Grup cukup                  -    the exercise price under a purchase
           pasti untuk mengeksekusi opsi tersebut;                        option that the Group is reasonably
           dan                                                            certain to exercise; and
       -   penalti karena penghentian awal sewa                      -    penalties for early termination of a lease
           kecuali jika Grup cukup pasti untuk tidak                      unless the Group is reasonably certain not
           menghentikan lebih awal.                                       to terminate early.

       Pembayaran sewa dialokasikan menjadi                          Each lease payment is allocated between the
       bagian pokok dan biaya keuangan. Biaya                        liability and finance cost. The finance cost is
       keuangan dibebankan pada laba rugi selama                     charged to profit or loss over the lease period
       periode sewa sehingga menghasilkan tingkat                    so as to produce a constant periodic rate of
       suku bunga periodik yang konstan atas saldo                   interest on the remaining balance of the liability
       liabilitas untuk setiap periode.                              for each period.

       Sebagai pesewa                                                As Lessor

       Ketika Grup bertindak sebagai pesewa, Grup                    When the Group acts as a lessor, it shall
       mengklasifikasi masing-masing sewanya baik                    classify each of its leases as either an
       sewa operasi atau sewa pembiayaan.                            operating lease or a finance lease.

       Untuk mengklasifikasi masing-masing sewa,                     To classify each lease, the Group makes an
       Grup membuat penilaian secara keseluruhan                     overall assessment of whether the lease
       atas apakah sewa mengalihkan secara                           transfers substantially all of the risks and
       substansial seluruh risiko dan manfaat yang                   rewards incidental to ownership of the
       terkait dengan kepemilikan aset pendasar. Jika                underlying asset. If this is the case, then the
       penilaian membuktikan hal tersebut, maka                      lease is classified as a finance lease; if not,
       sewa      diklasifikasikan   sebagai    sewa                  then it is an operating lease. As part of this
       pembiayaan; jika tidak maka, merupakan sewa                   assessment, the Group considers certain
       operasi. Sebagai bagian dari penilaian ini,                   indicators such as whether the lease term is
       Grup mempertimbangkan beberapa indikator                      for the major part of the economic life of the
       seperti apakah masa sewa adalah sebagian                      underlying asset.
       besar dari umur ekonomik aset pendasar.

   m. Sewa Pembiayaan                                             m. Finance Leases

       Sewa       pembiayaan      adalah  kegiatan                   Finance lease is a financing activity in the form
       pembiayaan dalam bentuk penyediaan barang                     of providing goods by a financing company for
       oleh perusahaan pembiayaan untuk digunakan                    use by a debtor for a certain period of time,
       debitur selama jangka waktu tertentu, yang                    which transfers substantially the benefits and
       mengalihkan secara substansial manfaat dan                    risks of the items being financed.
       risiko atas barang yang dibiayai.

       Jumlah yang terutang dari lessee dalam sewa                   Amount due from lessees under finance leases
       pembiayaan dicatat sebesar jumlah piutang                     are recorded at the amount of the finance
       sewa pembiayaan. Piutang sewa pembiayaan                      lease receivable. Finance lease receivable
       terdiri dari jumlah piutang sewa ditambah nilai               consist of the total lease receivables plus the
       residu yang dijamin (harga opsi) yang akan                    guaranteed residual value (option price) to be
       diterima pada akhir masa sewa, dikurangi                      received at the end of the lease period, less
       penghasilan        pembiayaan       tangguhan,                unearned lease income, security deposits, and
       simpanan jaminan, dan cadangan kerugian                       allowance for impairment losses.
       penurunan nilai.

       Selisih antara piutang sewa pembiayaan                        The difference between the finance lease
       ditambah nilai residu yang dijamin dengan                     receivables plus the guaranteed residual value
       biaya perolehan aset sewaan dicatat sebagai                   and the acquisition cost of the leased assets is
       penghasilan pembiayaan tangguhan dan                          recorded as unearned lease income. This is
       dialokasikan sebagai pendapatan selama                        recognized as finance lease income over the
       masa sewa berdasarkan suatu tingkat                           lease period at a periodic rate of return on the




                                                         - 51 -
Page 374
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


        pengembalian berkala yang tetap dari piutang                   finance lease receivables. The Group does not
        sewa      pembiayaan.     Perusahaan     tidak                 recognize interest income from finance lease
        mengakui pendapatan bunga dari piutang                         receivables which are overdue for more than
        sewa pembiayaan yang telah menunggak                           90 days. Such interest income is recognized
        pembayaran lebih dari 90 hari. Pendapatan                      as income when already received.
        tersebut diakui pada saat pendapatan tersebut
        diterima.

        Pada awal masa sewa, apabila aset sewaan                       At the inception of the lease, if the leased
        memiliki nilai residu pada akhir periode sewa,                 asset has residual value at the end of the
        lessee     diwajibkan     untuk    memberikan                  lease period, the lessee is required to make a
        simpanan jaminan yang akan diperhitungkan                      security deposit which will be applied as
        dengan nilai aset sewa pada akhir masa                         payment to the purchase option price of the
        sewaan, bila hak opsi dilaksanakan lessee.                     leased asset at the end of the lease period if
        Apabila hak opsi tidak dilaksanakan, simpanan                  the option to purchase is exercised by the
        jaminan tersebut akan dikembalikan kepada                      lessee. Otherwise, the security deposit will be
        lessee.                                                        returned to the lessee at the end of the lease
                                                                       period.

        Apabila aset sewaan dijual kepada lessee                       If the lease assets are sold to the lessee
        sebelum masa sewa berakhir, maka                               before the end of the lessee before the end of
        perbedaan harga jual dengan investasi neto                     the lease period, the difference between the
        pembiayaan dicatat sebagai keuntungan atau                     sales price and the finance lease receivable is
        kerugian pada saat terjadinya.                                 recorded as gain or loss at the time of sale.

   n.   Pembiayaan Modal Kerja dengan Skema                       n.   Working Capital Financing with Factoring
        Anjak Piutang                                                  Scheme receivables

        Pembiayaan modal kerja skema anjak piutang                     Working capital financing through the accounts
        adalah pembiayaan untuk pembiayaan modal                       receivable factoring scheme is a form of
        usaha dengan jangka waktu 1 sampai 2 tahun.                    business capital financing with a duration of 1
                                                                       to 2 years.

        Piutang pembiayaan modal kerja skema anjak                     Working capital financing with factoring
        piutang dihapusbukukan dengan mendebit                         scheme receivables are written off through
        cadangan kerugian penurunan nilai pada saat                    allowance for impairment losses when
        manajemen berpendapat bahwa konsumen                           management believes that the accounts
        tersebut harus dihapuskan karena secara                        should be written off because the consumers
        operasional konsumen sudah tidak mampu                         are unable to pay or difficult to be collected.
        membayar atau sulit untuk ditagih.

  o.    Piutang Premi dan Reasuransi                              o.   Premium and Reinsurance Receivables

        Piutang premi meliputi tagihan premi kepada                    Premium receivables consist of receivables
        tertanggung, agen atau broker sebagai akibat                   from policyholders, agents or brokers resulting
        transaksi   asuransi.   Dalam     hal    Grup                  from an insurance transaction. In conditions
        memberikan     potongan      premi     kepada                  where the Group gives premium discount to
        tertanggung,   maka      potongan     tersebut                 policyholders, the discount is reduced directly
        langsung dikurangkan dari piutang preminya.                    from the related premium receivables.

        Grup menelaah penurunan piutang secara                         The Group assesses its receivables for
        berkala. Jika ada bukti objektif bahwa putang                  impairment on a regular basis. If there is an
        tersebut menurun, Grup mengurangi nilai                        objective evidence that these receivables are
        tercatat piutang sebesar yang dapat dipulihkan                 impaired, the Group reduces the carrying
        dan diakui rugi penurunan nilai dalam laba                     amounts of the receivables to their recoverable
        rugi. Grup mengumpulkan bukti objektif bahwa                   amounts and recognizes that impairment loss
        terdapat penurunan nilai piutang dalam                         in profit or loss. The Group gathers the
        menggunakan proses yang diterapkan untuk                       objective evidence that a receivable is
        aset keuangan atas biaya yang diamortisasi.                    impaired using the same process adopted for
                                                                       financial assets held at amortized cost.




                                                         - 52 -
Page 375
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


        Piutang         reasuransi      tidak    boleh                 Reinsurance receivable cannot be offset
        dikompensasikan dengan utang reasuransi,                       against reinsurance payable, unless the
        kecuali apabila kontrak reasuransi menyatakan                  reinsurance contract specially allows the right
        adanya        kompensasi.     Apabila   dalam                  of offset. If a credit balance arises from the
        kompensasi tersebut timbul saldo kredit, maka                  offsetting of the reinsurance receivables and
        saldo tersebut disajikan pada kelompok                         payables, this balance is presented in the
        liabilitas sebagai utang reasuransi.                           liability section as reinsurance payable.

   p.   Kredit Diberikan dan Piutang/Pembiayaan                   p.   Loan and Receivables/Sharia Financing
        Syariah

        Kredit diberikan adalah penyediaan uang atau                   Loans represent provision of cash or cash
        tagihan yang dapat disetarakan dengan kas,                     equivalents based on agreements with
        berdasarkan persetujuan atau kesepakatan                       borrowers, where borrowers required to repay
        pinjam-meminjam dengan debitur yang                            their debts with interest after specified periods.
        mewajibkan debitur untuk melunasi utang
        berikut bunganya setelah jangka waktu
        tertentu.

        Termasuk dalam kredit yang diberikan adalah                    Loans include sharia financing which consist of
        pembiayaan syariah yang terdiri dari piutang                   murabahah receivables, qardh receivables,
        murabahah, piutang qardh, pembiayaan                           musyarakah financing, mudharabah financing
        musyarakah, pembiayaan mudharabah dan                          and ijarah receivables.
        piutang ijarah.

        Murabahah adalah akad jual beli barang                         Murabahah is an agreement for the sale and
        dengan harga jual sebesar biaya perolehan                      purchase of goods with sales price equivalent
        ditambah keuntungan (marjin) yang disepakati                   to cost plus agreed margin, and the seller
        dan penjual harus mengungkapan biaya                           should inform the purchased cost to buyer.
        perolehan barang tersebut kepada pembeli.

        Qardh adalah akad pinjam meminjam dana                         Qardh is a loan/borrowing funds without profit
        tanpa imbalan dengan liabilitas pihak                          wherein the borrower return the principal of the
        peminjam mengembalikan pokok pinjaman                          loan at lump sum or on installment over certain
        secara sekaligus atau cicilan dalam jangka                     period.
        waktu tertentu.

        Musyarakah adalah akad kerjasama antara                        Musyarakah is an agreement between
        dua pihak atau lebih untuk suatu usaha                         investors (musyarakah partners) to have a
        tertentu,   dimana    masing-masing   pihak                    join-venture in a partnership, at an agreed
        memberikan kontribusi dana dengan ketentuan                    nisbah sharing portion, while losses will be
        bahwa keuntungan dibagi berdasarkan                            proportionately distributed based on the capital
        kesepakatan sedangkan kerugian berdasarkan                     contribution. These funds including cash or
        porsi kontribusi dana. Dana tersebut meliputi                  non-cash assets which are allowed by sharia.
        kas atau aset nonkas yang diperkenankan
        oleh syariah.

        Mudharabah adalah akad kerjasama usaha                         Mudharabah is an agreement between the
        antara bank sebagai pemilik dana (shahibul                     bank as an owner of funds (shahibul maal) and
        maal) dan nasabah selaku pengelola dana                        customer as a fund manager (mudharib) to run
        (mudharib), menjalankan usaha dengan                           a business with pre-defined terms of (nisbah)
        penentuan awal keuntungan dan kerugian                         gain or loss. Ijarah is a lease agreement
        (nisbah). Ijarah adalah akad sewa-menyewa                      between the lessor (lease object) and lessee
        antara pemilik (obyek sewa) dan penyewa                        to get margin from leased object.
        untuk mendapatkan imbalan atas obyek sewa
        yang disewakannya.




                                                         - 53 -
Page 376
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       Pembiayaan syariah disajikan sebesar jumlah                    Sharia financing is presented in the amount of
       pembiayaan dikurangi dengan cadangan                           financing minus the allowance for impairment
       kerugian penurunan nilai dengan jumlah                         losses with a minimum amount based on
       minimum berdasarkan Peraturan Otoritas Jasa                    Financial Services Authority Regulation
       Keuangan (POJK) No. 2/POJK.03/2022                             (POJK) No. 2/POJK.03/2022 concerning
       tentang Penilaian Kualitas Aset Bank Umum                      Assets Quality Assessment of Sharia
       Syariah dan Unit Usaha Syariah dan POJK                        Commercial Banks and Sharia Business Units
       No. 11/POJK.03/2020 tanggal 13 Maret 2020                      and Financial Services Authority Regulation
       tentang Stimulus Perekonomian Nasional                         No. 11/POJK.03/2020 dated March 13, 2020
       sebagai Kebijakan Counter Cyclical Dampak                      concerning National Economic Stimulus as a
       Penyebaran Corona Virus Diseases 2019.                         Counter Cyclical Policy on the Impact of the
                                                                      Spread of Corona Virus Diseases 2019.

       Pembiayaan syariah dengan akad murabahah                       Sharia financing with murabahah contract is
       disajikan   sebesar   jumlah   pembiayaan                      presented at the financing amount less
       dikurangi cadangan kerugian penurunan nilai                    allowance for impairment losses in accordance
       sesuai dengan PSAK No. 102 (Amandemen                          with PSAK No. 102 (Amendment 2019).
       2019).

       Ketika kredit yang diberikan tidak tertagih,                   For uncollected loans, the loans are written off
       kredit tersebut dihapus buku dengan menjurnal                  by reversing the journal of allowance for
       balik cadangan kerugian penurunan nilai.                       impairment losses. Such loans can be written-
       Kredit yang diberikan tersebut dapat dihapus                   off after all the necessary procedures have
       buku setelah semua prosedur yang diperlukan                    been performed and the amount of the loss
       telah dilakukan dan jumlah kerugian telah                      has been determined.
       ditentukan.

       Kriteria debitur yang dapat dihapusbukukan                     Criteria of the debtor that can be written off
       meliputi:                                                      include:
       1. Fasilitas      kredit   telah    mengalami                  1. The credit facilities have been impaired;
            penurunan nilai;
       2. Fasilitas kredit telah dibentuk cadangan                    2.   The credit facility has been provided with
            kerugian penurunan nilai sebesar 100%                          allowance        for   impairment    losses
            dari pokok kredit;                                             amounting to 100% of the loan principal;
       3. Telah       dilakukan     berbagai    upaya                 3.   Efforts for billing and recovery have been
            penagihan dan pemulihan, namun tidak                           made, but to no avail;
            berhasil;
       4. Usaha debitur sudah tidak mempunyai                         4.   The debtor’s business has no longer has
            prospek atau kinerja debitur buruk atau                        prospects or has poor performance or no
            tidak ada kemampuan membayar;                                  ability to pay;
       5. Hapus buku dilakukan terhadap semua                         5.   The write–off are perfomed for all loan
            kewajiban kredit, termasuk dari fasilitas                      obligations, including those from noncash
            pinjaman       non     tunai     sehingga                      loan facility so that the write-offs can not
            penghapusan tidak dapat dilakukan pada                         be done on some of its loan obligations
            beberapa         kewajiban       kreditnya                     (partial write-off);
            (penghapusan sebagian).

       Apabila aset yang dijaminkan diambil alih,                     If the assets pledged as collateral are
       maka entitas anak akan menjurnal balik                         foreclosed, then the subsidiary should reverse
       cadangan kerugian penurunan nilai dan                          the allowance for impairment losses and
       mengakui agunan yang diambil alih yang                         recognize foreclosed properties that are
       diukur pada nilai yang lebih rendah antara nilai               measured at the lower of carrying amount and
       tercatat dan nilai wajar setelah dikurangi biaya               fair value less costs to sell.
       untuk menjual.

       Ketika terjadi penerimaan kembali kredit yang                  When there is a collection from previous write-
       dihapus buku, entitas anak mencatat                            off loan, the subsidiary records this recovery
       penerimaan      kembali   tersebut    dengan                   as a credit to recovery of impairment losses on
       mengkreditkan pemulihan kerugian penurunan                     financial assets.
       nilai aset keuangan.




                                                          - 54 -
Page 377
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


        Restrukturisasi kredit meliputi modifikasi                         Loan restructuring may involve a modification
        persyaratan kredit, konversi kredit menjadi                        of the terms of the loans, conversion of loans
        saham atau instrumen keuangan lainnya                              into equity or other financial instruments and/or
        dan/atau kombinasi dari keduanya. Dalam                            a combination of both. In restructuring credit
        restrukturisasi kredit yang mengkonversi kredit                    that converted credit become shares, the
        menjadi saham, entitas anak memperoleh                             subsidiary obtains participation of temporary
        penyertaan      modal     sementara.  Dengan                       investment. In accordance with Bank
        mengacu pada PBI No. 15/11/PBI/2013                                Indonesia Regulation (PBI) No. 15/11/PBI/
        tentang Prinsip Kehati-hatian dalam Kegiatan                       2013 on the Precautionary Principle Capital
        Penyertaan Modal, pelepasan atau divestasi                         Investment Activity, release or divestment to
        atas penyertaan modal sementara wajib                              participation of temporary investment is
        dilakukan      apabila     penyertaan   modal                      mandatory if the participation of temporary
        sementara telah melebihi jangka waktu paling                       investment has exceeded the maximum period
        lama 5 (lima) tahun atau perusahaan tempat                         of 5 (five) years or the company where
        penyertaan       modal      sementara     telah                    investment of temporary investment have
        memperoleh laba kumulatif.                                         obtained a cumulative profit.

        Kredit yang direstrukturisasi disajikan sebesar                    Restructured loans are stated at the lower of
        nilai yang lebih rendah antara nilai tercatat                      carrying value of the loan at the time of
        kredit pada tanggal restrukturisasi atau nilai                     restructuring or net present value of the total
        tunai penerimaan kas masa depan setelah                            future cash receipts after restructuring. Losses
        restrukturisasi. Kerugian akibat selisih antara                    arising from any excess of the carrying value
        nilai tercatat kredit pada tanggal restrukturisasi                 of the loan at the time of restructuring over the
        dengan nilai tunai penerimaan kas masa                             net present value of the total future cash
        depan setelah restrukturisasi diakui sebagai                       receipts after restructuring are recognised as
        laba/rugi. Setelah restrukturisasi, semua                          profit/loss. Thereafter, all cash receipts under
        penerimaan kas masa depan yang ditetapkan                          the new terms shall be accounted for as a
        dalam persyaratan baru dicatat sebagai                             return of principal and interest income, in
        pengembalian pokok kredit yang diberikan dan                       accordance with the restructuring scheme.
        pendapatan bunga sesuai dengan syarat-
        syarat restrukturisasi.

   q.   Aset Ijarah                                                   q.   Ijarah Assets

        Aset ijarah, yakni kendaraan bermotor, mesin,                      Ijarah assets, such as motorcycle, machinery,
        alat berat dan piranti lunak, disusutkan atau                      heavy equipment and software are depreciated
        diamortisasi sesuai dengan jangka waktu sewa                       or amortized over the lease term or the
        atau umur ekonomis aset, mana yang lebih                           economic lives of assets, whichever is shorter,
        pendek, dimana pada akhir masa akad, aset                          where at the end of the contract period, these
        tersebut akan dihibahkan ke penyewa.                               assets are given to lessee.

        Untuk akad ijarah muntahiyah bitamlik (sewa                        For the ijarah muntahiyah bitamlik contracts
        pembiayaan), apabila pada saat perpindahan                         (lease financing), if at the time of transfer of
        kepemilikan aset ijarah dari pemilik kepada                        ownership of the asset from the owner to the
        penyewa dilakukan dengan cara hibah, maka                          lessee by grant, then the carrying amount is
        jumlah tercatat aset ijarah diakui sebagai                         recognized as an ijarah asset expense.
        beban.

        Pendapatan sewa selama masa akad diakui                            Lease income during lease term is recognized
        pada saat manfaat atas aset telah diserahkan                       when the benefits of assets have been handed
        kepada penyewa.                                                    over to the lessee.

        Pendapatan ijarah disajikan secara neto                            Ijarah income is presented net of related
        setelah dikurangi beban yang terkait yakni                         expenses such as, depreciation, maintenance
        penyusutan      dan      pemeliharaan serta                        and repairs expenses. Ijarah net income is
        perbaikan. Pendapatan ijarah neto disajikan                        presented as part of "interest and profit sharing
        sebagai bagian dari “pendapatan bunga dan                          income" in profit or loss.
        bagi hasil” dalam laba rugi.




                                                             - 55 -
Page 378
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


   r.   Transaksi Efek                                             r.   Securities Transactions

        Transaksi pembelian dan penjualan efek baik                     Purchase and sale transactions of securities
        untuk nasabah maupun untuk portofolio efek                      both for customers and the Group’s portfolio
        Grup, diakui pada saat timbulnya perikatan                      are recognized once those securities
        atas transaksi efek tersebut (tanggal                           transactions have been agreed to on
        transaksi).                                                     transaction date.

        Pembelian efek untuk nasabah dicatat sebagai                    Purchases of securities for the interest of
        piutang nasabah dan utang kepada PT Kliring                     customers are recorded as receivables from
        Penjaminan Efek Indonesia (KPEI), sedangkan                     customers and payable to PT Kliring
        penjualan efek dicatat sebagai piutang dari                     Penjaminan Efek Indonesia (KPEI), while sales
        KPEI dan utang nasabah.                                         of such securities are recorded as receivables
                                                                        from KPEI and payables to customers.

        Pada tanggal penyelesaian, kegagalan untuk                      On the settlement date, failure in the
        menyelesaikan transaksi pembelian efek                          settlement of securities purchased is recorded
        dicatat sebagai gagal terima dan disajikan di                   as failure to receive account and presented in
        laporan    posisi     keuangan   konsolidasian                  the consolidated statements of financial
        sebagai liabilitas, sedangkan kegagalan untuk                   position as a liability, while failure in settlement
        menyelesaikan transaksi penjualan efek                          of securities sold is recorded as failure to
        dicatat sebagai gagal serah dan disajikan                       deliver account and is presented in the
        sebagai aset.                                                   consolidated statements of financial position
                                                                        as an asset.

        Penerimaan dana dari nasabah pemilik                            Funds received from the customers in
        rekening dalam rangka pembelian efek,                           connection with the securities purchased for
        pembayaran dan penerimaan atas transaksi                        their accounts, and payments and receipts
        pembelian dan penjualan efek untuk nasabah                      related to purchases and sales of securities on
        pemilik rekening dicatat sebagai rekening                       behalf of the customers are recorded as
        nasabah. Saldo dana pada rekening nasabah                       customers’ accounts. The remaining positive
        disajikan di laporan posisi keuangan                            fund balance on customers’ accounts is
        konsolidasian sebagai liabilitas, sedangkan                     presented in the consolidated statements of
        kekurangan dana pada rekening nasabah                           financial position as a liability, while receivable
        disajikan sebagai aset.                                         balances are presented as an asset.

   s.   Investasi pada Entitas Asosiasi                            s.   Investments in Associates

        Hasil usaha dan aset dan liabilitas entitas                     The results and assets and liabilities of
        asosiasi dicatat dalam laporan keuangan                         associates are incorporated in these
        konsolidasian menggunakan metode ekuitas.                       consolidated financial statements using the
                                                                        equity method of accounting.

        Dalam metode ekuitas, pengakuan awal                            Under the equity method, an investment in an
        investasi pada entitas asosiasi diakui pada                     associate is initially recognized in the
        laporan     posisi   keuangan    konsolidasian                  consolidated statement of financial position at
        sebesar biaya perolehan dan selanjutnya                         cost and adjusted there after to recognize the
        disesuaikan untuk mengakui bagian Grup atas                     Group’s share of the profit or loss and other
        laba rugi dan penghasilan komprehensif lain                     comprehensive income of the associate. When
        dari entitas asosiasi. Jika bagian Grup atas                    the Group’s share of losses of an associate
        rugi entitas asosiasi adalah sama dengan atau                   exceeds the Group’s interest in that associate,
        melebihi     kepentingannya     pada    entitas                 the Group discontinues recognizing its share of
        asosiasi,     maka      Grup     menghentikan                   further   losses.   Additional    losses    are
        pengakuannya atas rugi lebih lanjut. Kerugian                   recognized only to the extent that the Group
        lebih lanjut diakui hanya jika Grup memiliki                    has incurred legal or constructive obligations
        kewajiban konstruktif atau hukum atau                           or made payments on behalf of the associate.
        melakukan pembayaran atas nama entitas
        asosiasi.




                                                          - 56 -
Page 379
PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                  AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                 December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                 (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                     unless otherwise stated)


        Investasi pada entitas asosiasi dicatat                             An investment in an associate is accounted for
        menggunakan metode ekuitas sejak tanggal                            using the equity method from the date on
        investasi tersebut memenuhi definisi entitas                        which the investee becomes an associate. On
        asosiasi. Pada saat perolehan investasi, setiap                     acquisition of the investment in an associate,
        selisih lebih antara biaya perolehan investasi                      any excess of the cost of the investment over
        dengan bagian Grup atas nilai wajar neto aset                       the Group’s share of the net fair value of the
        dan liabilitas teridentifikasi dari investee diakui                 identifiable assets and liabilities of the investee
        sebagai goodwill, yang termasuk dalam nilai                         is recognized as goodwill, which is included
        tercatat investasi. Setiap selisih lebih bagian                     within the carrying amount of the investment.
        Grup atas nilai wajar neto aset dan liabilitas                      Any excess of the Group’s share of the net fair
        teridentifikasi terhadap biaya perolehan                            value of the identifiable assets and liabilities
        investasi langsung diakui dalam laba rugi pada                      over the cost of the investment is recognized
        periode perolehan investasi.                                        immediately in profit or loss in the period in
                                                                            which the investment is acquired.

        Pada setiap tanggal pelaporan, Grup                                 The Group determines at each reporting date
        menentukan apakah terdapat penurunan nilai                          whether it is necessary to recognize any
        yang harus diakui atas investasi Grup pada                          impairment loss with respect to the Group’s
        entitas asosiasi.                                                   investment in an associate.

        Ketika entitas dalam Grup melakukan                                 When an entity in the Group transacts with an
        transaksi dengan entitas asosiasi milik Grup,                       associated entity of the Group, gains and
        keuntungan atau kerugian yang dihasilkan dari                       losses resulting from the transactions with the
        transaksi tersebut diakui dalam laporan                             associate are recognized in the Group’s
        keuangan konsolidasian Grup hanya sebatas                           consolidated financial statements only to the
        kepentingan para pihak dalam asosiasi yang                          extent of interests in the associate that are not
        tidak terkait dengan Grup.                                          related to the Group.

   t.   Properti Investasi                                             t.   Investment Properties

        Properti investasi diukur sebesar biaya                             Investment properties are measured at cost,
        perolehan, termasuk biaya transaksi, setelah                        including transaction costs, less accumulated
        dikurangi dengan akumulasi penyusutan dan                           depreciation and any impairment loss. The
        kerugian penurunan nilai, jika ada. Jumlah                          carrying amount includes the cost of replacing
        tercatat termasuk biaya penggantian untuk                           part of an existing investment property at the
        bagian tertentu dari properti investasi yang                        time that cost is incurred if the recognition
        telah ada pada saat beban terjadi, jika kriteria                    criteria are met; and excludes the costs of day-
        pengakuan terpenuhi, dan tidak termasuk                             to-day servicing of an investment property.
        biaya perawatan sehari-hari properti investasi.                     Investment properties in the form of the
        Properti investasi berupa bangunan disusutkan                       building, are depreciated using the straight-line
        dengan metode garis lurus (straight-line                            method at 5% per annum.
        method) dengan persentase penyusutan
        sebesar 5% per tahun.

        Properti investasi dihentikan pengakuannya                          Investment properties are derecognized
        (dikeluarkan dari laporan posisi keuangan                           (removed from the consolidated statements of
        konsolidasian) pada saat pelepasan atau                             financial position) when either they have been
        ketika properti investasi tersebut tidak                            disposed of or when the investment property is
        digunakan lagi secara permanen dan tidak                            permanently withdrawn from use and no future
        memiliki manfaat ekonomis di masa depan                             economic benefit is expected from its disposal.
        yang      dapat     diharapkan    pada      saat                    Any gains or losses on the retirement or
        pelepasannya. Keuntungan atau kerugian                              disposal of an investment property are
        yang timbul dari penghentian atau pelepasan                         recognized in the consolidated statement of
        properti investasi diakui dalam laba rugi dalam                     comprehensive income in the year of
        tahun terjadinya penghentian atau pelepasan                         retirement or disposal.
        tersebut.




                                                              - 57 -
Page 380
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


        Transfer ke properti investasi dilakukan jika,                   Transfers are made to investment properties
        dan    hanya     jika,   terdapat    perubahan                   when, and only when, there is a change in use,
        penggunaan, yang ditunjukkan dengan                              evidenced by ending of owner-occupation or
        berakhirnya pemakaian oleh pemilik atau                          commencement of an operating lease to
        dimulainya sewa operasi ke pihak lain.                           another party. Transfers are made from
        Transfer dari properti investasi dilakukan jika,                 investment properties when, and only when,
        dan    hanya     jika,   terdapat    perubahan                   there is a change in use, evidenced by
        penggunaan, yang ditunjukkan dengan                              commencement of owner-occupation or
        dimulainya penggunaan oleh pemilik atau                          commencement of development with a view to
        dimulainya pengembangan untuk dijual.                            sale.

   u.   Aset Tetap                                                  u.   Property and Equipment

        Aset tetap, kecuali tanah dan bangunan,                          Property and equipment, except land and
        dinyatakan berdasarkan biaya perolehan,                          building are carried at cost, excluding day to
        tetapi tidak termasuk biaya perawatan sehari-                    day servicing, less accumulated depreciation
        hari, dikurangi akumulasi penyusutan dan                         and any impairment in value. Land is not
        akumulasi rugi penurunan nilai, jika ada.                        depreciated and is stated at cost less any
        Tanah tidak disusutkan dan dinyatakan                            impairment in value, if any.
        berdasarkan biaya perolehan dikurangi
        akumulasi rugi penurunan nilai, jika ada.

        Biaya perolehan awal aset tetap meliputi harga                   The initial cost of property and equipment
        perolehan, termasuk bea impor dan pajak                          consists of its purchase price, including import
        pembelian yang tidak boleh dikreditkan dan                       duties and taxes and any directly attributable
        biaya-biaya yang dapat diatribusikan secara                      costs in bringing the property and equipment to
        langsung untuk membawa aset ke lokasi dan                        its working condition and location for its
        kondisi yang diinginkan sesuai dengan tujuan                     intended use.
        penggunaan yang ditetapkan.

        Beban-beban yang timbul setelah aset tetap                       Expenditures incurred after the property and
        digunakan, seperti beban perbaikan dan                           equipment have been put into operations, such
        pemeliharaan, dibebankan ke laba rugi pada                       as repairs and maintenance costs, are
        saat terjadinya. Apabila beban-beban tersebut                    normally charged to operations if these
        menimbulkan peningkatan manfaat ekonomis                         expenditures have resulted in an increase in
        di masa datang dari penggunaan aset tetap                        the future economic benefits expected to be
        tersebut yang dapat melebihi kinerja                             obtained from the use of the property and
        normalnya, maka beban-beban tersebut                             equipment beyond its originally assessed
        dikapitalisasi   sebagai    tambahan    biaya                    standard of performance, the expenditures are
        perolehan aset tetap.                                            capitalized as additional costs of property and
                                                                         equipment.

        Seluruh aset tetap, kecuali tanah dan                            All property and equipment, except for land
        bangunan, disusutkan dengan menggunakan                          and buildings, are depreciated over their
        metode saldo menurun berganda (double                            estimated useful lives using the double-
        declining balance method) sesuai dengan                          declining-balance method. Buildings are
        taksiran   masa      manfaatnya.  Bangunan                       depreciated over their estimated useful lives
        disusutkan dengan menggunakan metode                             using    the    straight-line   method.  The
        garis lurus (straight-line method) sesuai                        depreciation rates are as follows:
        dengan      taksiran    masa     manfaatnya.
        Persentase penyusutan per tahun adalah
        sebagai berikut:




                                                           - 58 -
Page 381
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


                                                      Persentase/
                                                         Rate

        Bangunan:                                                        Buildings
        • Bangunan                                         5%            • Permanent
        • Prasarana                                       10%            • Non-permanent
        Aset tetap diluar bangunan:                                      Property and equipment other than buildings:
        Golongan I : Dengan masa manfaat tidak                           Class I : Assets with useful lives of less
          lebih dari 4 tahun                              50%              than 4 years
        Golongan II :Dengan masa manfaat lebih                           Class II : Assets with useful lives of
          dari 4 tahun dan tidak lebih dari 8 tahun       25%              between 4 to 8 years

        Nilai tercatat aset tetap ditelaah kembali dan                   The carrying values of property and equipment
        dilakukan penurunan nilai apabila terdapat                       are reviewed for impairment when events or
        peristiwa atau perubahan kondisi tertentu yang                   changes in circumstances indicate that the
        mengindikasikan nilai tercatat tersebut tidak                    carrying values may not be recoverable.
        dapat dipulihkan sepenuhnya.

        Dalam setiap inspeksi yang signifikan, biaya                     When each major inspection is performed, its
        inspeksi diakui dalam jumlah tercatat aset                       cost is recognized in the carrying amount of
        tetap sebagai suatu penggantian apabila                          the item of property and equipment as a
        memenuhi kriteria pengakuan. Biaya inspeksi                      replacement if the recognition criteria are
        signifikan    yang     dikapitalisasi tersebut                   satisfied. Such major inspection is capitalized
        diamortisasi selama periode sampai dengan                        and amortized over the next major inspection
        saat inspeksi signifikan berikutnya.                             activity.

        Jumlah tercatat aset tetap dihentikan                            The carrying amount of property and
        pengakuannya pada saat dilepaskan atau                           equipment is derecognized upon disposal or
        tidak ada manfaat ekonomis masa depan yang                       when no future economic benefits are
        diharapkan      dari    penggunaan     atau                      expected from its use or disposal. Any gains or
        pelepasannya. Keuntungan atau kerugian                           loss arising from de-recognition of property
        yang timbul dari penghentian pengakuan aset                      and equipment is included in profit or loss in
        tetap diakui dalam laba rugi pada tahun                          the year the item is derecognized.
        terjadinya penghentian pengakuan.

        Nilai residu, umur manfaat, serta metode                         The asset’s residual values, if any, useful lives
        penyusutan dan amortisasi ditelaah setiap                        and depreciation method are reviewed and
        akhir tahun dan dilakukan penyesuaian apabila                    adjusted if appropriate, at each financial year
        hasil telaah berbeda dengan estimasi                             end.
        sebelumnya.

        Aset Tetap dalam Pembangunan                                     Construction in Progress

        Aset tetap dalam pembangunan merupakan                           Construction in progress represents property
        aset tetap dalam tahap konstruksi, yang                          and equipment under construction which is
        dinyatakan pada biaya perolehan dan tidak                        stated at cost and is not depreciated. The
        disusutkan.      Akumulasi     biaya     akan                    accumulated costs are reclassified to the
        direklasifikasi ke akun aset tetap yang                          respective property and equipment account
        bersangkutan dan akan disusutkan pada saat                       and are depreciated when the construction is
        konstruksi selesai secara substansial dan aset                   substantially complete and the asset is ready
        tersebut telah siap digunakan sesuai                             for its intended use.
        tujuannya.

   v.   Agunan yang Diambil Alih                                    v.   Foreclosed Properties

        Agunan yang diambil alih diperoleh dalam                         Foreclosed assets in relation to the settlement
        kaitannya dengan penyelesaiannya piutang                         of financing facilities and loans.
        dan kredit yang diberikan.




                                                         - 59 -
Page 382
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


        Agunan yang diambil alih dicatat pada nilai                     Foreclosed properties are stated at the lower
        yang lebih rendah antara nilai tercatat dan nilai               of    carrying    amount     and   fair   value
        wajar setelah dikurangi biaya untuk menjual.                    less costs to sell. The difference between the
        Selisih antara nilai agunan yang diambil alih                   carrying value of the foreclosed properties and
        dengan sisa pokok pinjaman yang diberikan,                      the outstanding loan principal, if any, is
        jika ada, dibebankan ke laba rugi.                              charged to profit or loss.

        Selisih antara nilai agunan yang telah diambil                  The difference between the carrying value of
        alih dan hasil penjualannya diakui sebagai                      the foreclosed property and the proceeds from
        keuntungan atau kerugian pada saat penjualan                    its sale is recognized as a gain or loss in the
        agunan.                                                         period the property was sold.

        Biaya-biaya      yang    berkaitan     dengan                   The costs of maintenance of foreclosed
        pemeliharaan dan perbaikan agunan yang                          properties are charged to profit or loss when
        diambil alih dibebankan ke laba rugi pada saat                  incurred.
        terjadinya.

        Bila terjadi penurunan nilai yang bersifat                      The carrying amount of the property is written-
        permanen, maka nilai tercatatnya dikurangi                      down to recognize a permanent dimunition in
        untuk mengakui penurunan tersebut dan                           value of the foreclosed property, which is
        kerugiannya dibebankan pada laba rugi.                          charged to profit or loss.

        Manajemen melakukan evaluasi secara                             Management evaluates regularly the carrying
        berkala atas nilai agunan yang diambil alih.                    value of foreclosed property. The carrying
        Bila terjadi penurunan nilai yang bersifat                      amount of the property is written-down to
        permanen, maka nilai tercatatnya dikurangi                      recognize a permanent dimunition in value of
        untuk mengakui penurunan tersebut dan                           the foreclosed property, which is charged to
        kerugiannya dibebankan pada laba rugi.                          profit or loss.

   w. Biaya Dibayar Dimuka                                           w. Prepaid Expenses

        Biaya dibayar dimuka diamortisasi selama                        Prepaid expenses are amortized over their
        manfaat   masing-masing    biaya  dengan                        beneficial or contract periods using the
        menggunakan metode garis lurus.                                 straight-line method.

   x.   Penurunan Nilai Aset Non-Keuangan                            x. Impairment of Non-Financial Assets

        Pada setiap akhir periode pelaporan tahunan,                    The Group assesses at each annual reporting
        Grup menelaah apakah terdapat indikasi suatu                    period whether there is an indication that an
        aset mengalami penurunan nilai. Jika terdapat                   asset may be impaired. If any such indication
        indikasi tersebut atau pada saat uji tahunan                    exists, or when annual impairment testing for
        penurunan nilai aset perlu dilakukan, maka                      an asset is required, the Group makes an
        Grup membuat estimasi jumlah terpulihkan                        estimate of the asset’s recoverable amount.
        aset tersebut.

        Jika nilai tercatat aset lebih besar daripada                   Where the carrying amount of an asset
        nilai terpulihkannya, maka aset tersebut                        exceeds its recoverable amount, the asset is
        dinyatakan mengalami penurunan nilai dan                        considered impaired and impairment losses
        rugi penurunan nilai diakui dalam laba rugi.                    are recognized in profit or loss. In assessing
        Dalam menghitung nilai pakai, estimasi arus                     the value in use, the estimated net future cash
        kas masa depan bersih didiskontokan ke nilai                    flows are discounted to their present value
        kini dengan menggunakan tingkat diskonto                        using a pre-tax discount rate that reflects
        sebelum pajak yang mencerminkan penilaian                       current market assessments of the time value
        pasar kini dari nilai waktu uang dan risiko                     of money and the risks specific to the asset.
        spesifik atas aset.




                                                            - 60 -
Page 383
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


        Penelaahan dilakukan pada akhir setiap                             An assessment is made at each annual
        tanggal pelaporan tahunan untuk mengetahui                         reporting period as to whether there is any
        apakah terdapat indikasi bahwa                rugi                 indication     that    previously   recognized
        penurunan nilai aset yang telah diakui dalam                       impairment losses recognized for an asset
        periode sebelumnya mungkin tidak ada lagi                          may no longer exist or may have decreased. If
        atau mungkin telah menurun. Jika indikasi                          such indication exists, the recoverable amount
        dimaksud        ditemukan,        maka      Grup                   is estimated. A previously recognized
        mengestimasi       jumlah     terpulihkan    aset                  impairment loss for an asset is reversed only if
        tersebut. Kerugian penurunan nilai yang telah                      there has been a change in the assumptions
        diakui dalam periode sebelumnya akan                               used to determine the asset’s recoverable
        dipulihkan hanya jika terdapat perubahan                           amount since the last impairment loss was
        asumsi-asumsi        yang     digunakan     untuk                  recognized. If that is the case, the carrying
        menentukan jumlah terpulihkan aset tersebut                        amount of the asset is increased to its
        sejak rugi penurunan nilai terakhir diakui.                        recoverable amount. The reversal is limited so
        Dalam hal ini, jumlah tercatat aset dinaikan ke                    that the carrying amount of the assets does not
        jumlah terpulihkannya. Pembalikan aset                             exceed its recoverable amount nor exceed the
        tersebut dibatasi sehingga jumlah aset tercatat                    carrying amount that would have been
        tidak melebihi jumlah terpulihkannya maupun                        determined, net of depreciation, had no
        nilai tercatat, neto setelah penyusutan,                           impairment loss been recognized for the asset
        seandainya tidak ada rugi penurunan nilai                          in prior years. After such a reversal, the
        yang telah diakui untuk aset tersebut pada                         depreciation charge on the said asset is
        tahun-tahun sebelumnya. Setelah pemulihan                          adjusted in future periods to allocate the
        tersebut,      penyusutan        aset    tersebut                  asset’s revised carrying amount, less any
        disesuaikan di periode mendatang untuk                             residual value, on a systematic basis over its
        mengalokasikan nilai tercatat aset yang                            remaining useful life.
        direvisi, dikurangi nilai sisanya, dengan dasar
        yang sistematis selama sisa umur manfaatnya.

   y.   Simpanan dan Simpanan dari Bank lain                          y.   Deposits and Deposits from Other Banks

        Simpanan dan simpanan dari bank lain                               Deposits and deposits from other banks are
        diklasifikasikan sebagai liabilitas keuangan                       classified as financial liabilities measured at
        yang diukur pada biaya perolehan diamortisasi                      amortized cost using the effective interest
        menggunakan metode suku bunga efektif.                             method. Refer to Note 2g for accounting policy
        Lihat Catatan 2g untuk kebijakan akuntansi                         for measurement of financial instruments.
        atas pengukuran instrumen keuangan.

        Simpanan      merupakan liabilitas kepada                          Deposits are liabilities to customers in the form
        nasabah dalam bentuk giro, tabungan dan                            of demand deposits, savings deposits and time
        deposito berjangka.                                                deposits.

        Giro merupakan simpanan nasabah yang                               Demand deposits represent deposits of
        dapat digunakan sebagai alat pembayaran,                           customers which may be used as instruments
        yang penarikannya dapat dilakukan setiap saat                      of payment, and which may be withdrawn at
        melalui     cek    atau      dengan      cara                      any time by checks, or other orders of payment
        pemindahbukuan dengan bilyet giro atau                             or transfers.
        sarana perintah pembayaran lainnya.

        Tabungan merupakan simpanan nasabah                                Savings deposits represent deposits of
        yang penarikannya hanya dapat dilakukan                            customers which may only be withdrawn when
        sesuai dengan syarat tertentu yang disepakati                      certain agreed conditions at the account
        pada saat pembukaan rekening tabungan.                             opening are met. They may not be withdrawn
        Penarikan atas tabungan tidak dapat dilakukan                      by checks or other equivalent instruments,
        dengan menggunakan cek atau instrumen                              except by using specific withdrawal slip which
        sejenis,   tetapi   menggunakan        formulir                    can only be validated at the depository bank
        penarikan tersendiri yang hanya berlaku di                         and/or by using Automatic Teller Machine
        bank     yang      bersangkutan      dan/atau                      (ATM) card.
        menggunakan kartu Anjungan Tunai Mandiri
        (ATM).




                                                             - 61 -
Page 384
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


        Deposito berjangka merupakan simpanan                              Time deposits represent deposits of customers
        nasabah yang penarikannya hanya dapat                              which may only be withdrawn after a certain
        dilakukan pada saat jatuh tempo sesuai                             period of time in accordance with the
        dengan jangka waktu yang disepakati dengan                         agreement with the customers at the time of
        nasabah pada saat penempatannya, dimana                            placement, or the customers will be fined or
        nasabah akan dikenakan penalti apabila                             penalized if withdrawals are made before
        melakukan penarikan sebelum tanggal jatuh                          maturity.
        temponya.

        Simpanan termasuk simpanan syariah dan                             Deposits include syariah deposits and
        investasi tidak terikat yang terdiri dari:                         unrestricted investments consisting of:
        •   Tabungan dan giro wadiah merupakan                             •   Wadiah saving and current account is
            titipan dana dalam bentuk tabungan dan                             entrusted funds in the form of savings and
            giro dimana pemilik dana mendapatkan                               current account where income fund
            pendapatan bonus.                                                  owners get a bonus.
        •   Investasi tidak terikat dalam bentuk giro,                     •   Unrestricted investments in current
            tabungan       dan     deposito      berjangka                     accounts, savings and time deposits
            mudharabah merupakan simpanan dana                                 represent deposits of customers' funds
            pelanggan yang memberikan pemilik dana                             that provide benefits for the owner of
            imbalan bagi hasil dari pendapatan unit                            funds from Islamic unit revenue for the
            syariah atas penggunaan dana tersebut                              use of these funds in accordance with the
            sesuai dengan nisbah yang ditetapkan                               ratio determined and approved previously.
            dan disetujui sebelumnya.

        Simpanan dari bank lain merupakan liabilitas                       Deposits from other banks are liabilities to
        kepada bank lain dalam bentuk giro, call                           other banks in the form of demand deposits,
        money kurang dari atau sampai dengan 90                            call money less than or 90 days and time
        hari, dan deposito berjangka dengan periode                        deposits with original maturities of each
        jatuh tempo menurut perjanjian masing-                             agreement.
        masing.

   z.   Kontrak Asuransi dan Investasi                                z.   Insurance and Investment Contracts

        Kontrak        dengan      pemegang         polis                  Contracts with policyholders are classified as
        diklasifikasikan baik sebagai kontrak asuransi                     either insurance contracts or investment
        atau kontrak investasi tergantung pada tingkat                     contracts depending on the level of insurance
        dari risiko asuransi yang dipindahkan. Risiko                      risk transferred. Insurance risk is the risk that
        asuransi adalah risiko yang terlebih dahulu                        previously was, other than financial risk,
        ada, selain risiko keuangan, dipindahkan dari                      transferred from the holder of the contract to
        pemegang kontrak kepada penerbit kontrak.                          the issuer of that contract. In cases where
        Pada kasus dimana perlindungan asuransi                            significant insurance protection is provided, the
        yang       signifikan   disediakan,      kontrak                   contract is classified as insurance contracts.
        digolongkan sebagai kontrak asuransi. Kontrak                      Contracts that transfer financial risk but not
        yang memindahkan risiko keuangan tapi tidak                        significant insurance risk are classified as
        risiko asuransi yang signifikan diklasifikasikan                   investment contracts, and is calculated as debt
        sebagai kontrak investasi, dan dihitung                            to policyholders, equal to the amount received
        sebagai utang kepada pemegang polis, sama                          by the Group and the return on it.
        dengan jumlah yang diterima oleh Grup dan
        pengembalian diatasnya.

        Manajemen meninjau berbagai produk yang                            Management reviewed the various products
        sesuai dengan kriteria yang ditentukan diatas                      that comply with the criteria specified above to
        untuk menentukan klasifikasi dari kontrak baik                     determine the classification of contracts either
        sebagai asuransi atau portofolio investasi dari                    as insurance or investment portfolio of the
        penerbit kontrak.                                                  issuer of that contract.




                                                             - 62 -
Page 385
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       Setelah kontrak memenuhi syarat sebagai                       After the contract qualifies as an insurance
       kontrak asuransi, maka tetap sebagai kontrak                  contract, it remains as an insurance contract
       asuransi sampai semua hak dan kewajiban                       until all rights and obligations exhausted or
       habis atau kadaluwarsa. Oleh karena itu,                      expired. Therefore, insurance contracts are not
       kontrak asuransi tidak diklasifikasi ulang                    reclassified as investment contracts for such
       sebagai kontrak investasi selama masih                        still applies even if the insurance risk has been
       berlaku bahkan jika risiko asuransi telah                     removed.
       dihapus.

       Durasi singkat kontrak asuransi adalah kontrak                Short duration insurance contracts are
       asuransi yang tidak mempunyai komponen                        insurance contracts that do not have a deposit
       deposit dan menyediakan perlindungan                          component and provide protection for 12
       selama 12 bulan atau kurang dan khususnya                     months or less and in particular give the
       memberikan       penanggung      hak     untuk                insured the right to cancel or adjust protection
       membatalkan atau mengatur perlindungan                        when the contract runs out.
       pada saat kontrak habis.

   aa. Reasuransi                                                 aa. Reinsurance

       Grup mereasuransikan polis-polis yang nilai                   The Group reinsures all policies exceeding its
       pertanggungannya melebihi retensi sendiri                     self-retention to reinsurance companies. The
       kepada perusahaan-perusahaan reasuransi.                      amount of premium paid or portion of premium
       Jumlah premi yang dibayarkan atau porsi                       for prospective reinsurance transactions is
       premi untuk transaksi reasuransi diakui                       recognized over the reinsurance contracts in
       berdasarkan perjanjian reasuransi dalam                       proportion with the protection received.
       proporsi terhadap perlindungan yang diterima.                 Reinsurance premiums are recorded as a
       Premi reasuransi dicatat sebagai pengurang                    deduction from gross premiums. Reinsurance
       premi bruto. Klaim reasuransi dicatat sebagai                 claims are recorded as a deduction from gross
       pengurang klaim bruto.                                        claims.

       Grup tidak diperbolehkan saling hapus antara:                 The Group is not allowed to offset between:
       a. aset reasuransi dan utang asuransi                         a. reinsurance assets and related insurance
           terkait; atau                                                 liabilities; or
       b. pendapatan atau beban dari kontrak                         b. income or expense from reinsurance
           reasuransi dan beban atau pendapatan                          contract and expense or income from the
           dari kontrak asuransi terkait.                                related insurance contract.

       Aset reasuransi terdiri dari piutang reasuransi               Reinsurance assets consist of reinsurance
       dan premi reasuransi yang ditangguhkan dan                    receivables and deferred reinsurance premium
       pemulihan estimasi klaim dari reasuransi.                     and estimated reinsurance claims recoveries.
       Berdasarkan perjanjian kontrak reasuransi,                    Based on certain reinsurance contract
       Grup memiliki hak untuk mengakui aset                         agreement, the Group has the night to
       reasuransi atas premi reasuransi yang                         recognize    reinsurance     assets    deferred
       ditangguhkan dan pemulihan estimasi klaim                     reinsurance     premium      and     estimated
       dari reasuransi walaupun belum jatuh tempo.                   reinsurance claims recoveries event though
       Kelebihan penerimaan dari aset reasuransi                     such deferred reinsurance premium and
       atas premi reasuransi yang ditangguhkan dan                   estimated reinsurance claims recoveries are
       pemulihan estimasi klaim dari reasuransi                      not due yet. The excess of settlement
       dengan yang aktual, jika ada, dicatat sebagai                 reinsurance assets of deferred reinsurance
       kelebihan deposit untuk reasuransi dan                        premium and estimated reinsurance claims
       disajikan sebagai liabilitas reasuransi.                      recoveries over the actual ones, if any, are
                                                                     recorded as excess of deposit for reinsurance
                                                                     and presented as part of reinsurance liabilities.




                                                         - 63 -
Page 386
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       Aset reasuransi ditelaah untuk penurunan nilai                 Reinsurance assets are reviewed for
       pada setiap tanggal pelaporan, atau lebih                      impairment at each reporting date, or more
       sering, ketika terdapat indikasi penurunan nilai               frequently, when an indication of impairment
       selama tahun pelaporan. Penurunan nilai                        arises during the reporting year. Impairment
       terjadi ketika terdapat bukti obyektif sebagai                 occurs when there is objective evidence as a
       akibat dari suatu peristiwa yang terjadi setelah               result of an event that occurred after initial
       pengakuan awal aset reasuransi bahwa Grup                      recognition of the reinsurance assets that
       tidak dapat menerima seluruh jumlah tercatat                   Group may not receive all outstanding
       karena berdasarkan ketentuan kontrak dan hal                   amounts due under the term of the contract
       tersebut memiliki dampak yang dapat diukur                     and the event has a reliably measurable
       dengan andal yang akan mempengaruhi                            impact on the amounts that the Group will
       jumlah yang akan diterima oleh Grup dari                       receive from the reinsurer. The impairment
       reasuradur. Kerugian penurunan nilai dicatat                   loss is recognized in the consolidated
       dalam laba rugi.                                               statement of profit or loss.

       Keuntungan atau kerugian membeli reasuransi                    Gains or losses on buying reinsurance are
       diakui dalam laba rugi segera pada tanggal                     recognized in the profit or loss immediately at
       pembelian dan tidak diamortisasi. Perjanjian                   the date of purchase and are not amortized.
       reasuransi tidak membebaskan perusahaan                        Reinsurance arrangements do not relieve the
       dari kewajiban kepada pemegang polis.                          Group from its obligations to policy holders.

       Pengakuan Imbal Jasa Penjaminan                                Guarantee Fee Recognition

       Pendapatan imbal jasa penjaminan diakui                        Income from guarantee fees is recognized as
       sebagai pendapatan secara proporsional                         revenue proportionately in accordance with the
       sesuai dengan persentase penyelesaian                          percentage of settlement of obligations during
       kewajiban selama periode proteksi penjaminan                   the guarantee protection period provided by
       yang diberikan oleh entitas anak berdasarkan                   the subsidiary based on the guarantee
       kontrak penjaminan. Jika sebelum tanggal                       contract. If before the date of the guarantee
       kontrak penjaminan berakhir, jumlah klaim                      contract is due, the claim amount of the
       pihak penerima jaminan telah sama dengan                       guarantee beneficiary is the same as the
       nilai penjaminan maka pendapatan imbal jasa                    guarantee value, then the guarantee fee that
       penjaminan yang belum diakui sebagai                           has not been recognized as income is
       pendapatan langsung diakui seluruhnya                          immediately recognized as revenue.
       sebagai pendapatan.

       Pendapatan jasa administrasi penjaminan                        Assurance administrative services revenue is
       diakui seluruhnya saat Sertifikat Penjaminan                   recognized when all of Guarantee Certificates
       (SP) diterbitkan.                                              (SP) are published.

       Entitas    anak       menjaminkan     kembali                  The subsidiary reinsures (reinsurance) a
       (reasuransi) sebagian porsi risikonya kepada                   portion of its risk to the reinsurance
       perusahaan penjaminan kembali (reasuransi).                    companies. The amount of reinsurance fee
       Jumlah imbal jasa penjaminan kembali yang                      paid or portion of reinsurance fee from
       dibayar atau porsi imbal jasa penjaminan                       reinsurance transactions is recognised over
       kembali atas transaksi penjaminan kembali                      the reinsurance contract in proportion with the
       (reasuransi) diakui sesuai dengan proporsi                     protection received.
       jumlah    proteksi      penjaminan    kembali
       (reasuransi) yang diterima.

       Beban imbal jasa penjaminan kembali diakui                     Fees expenses are recognized as a
       sebagai pengurang pendapatan imbal jasa                        proportionate deduction from the reinsurance
       penjaminan secara proporsional sesuai                          fee income in accordance with the percentage
       dengan persentase penyelesaian kewajiban                       of settlement of obligations during the
       selama periode proteksi penjaminan yang                        reinsurance protection period received by the
       diterima entitas anak berdasarkan kontrak                      subsidiary based on the reinsurance contract.
       penjaminan kembali.




                                                          - 64 -
Page 387
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


   ab. Liabilitas Manfaat Polis Masa Depan                      ab. Liability for Future Policy Benefits

       Liabilitas manfaat polis masa depan adalah                   Liability for future policy benefits represent the
       nilai sekarang estimasi manfaat polis masa                   present value of estimated future policy
       depan yang akan dibayar kepada pemegang                      benefits to be paid to policy holders, less
       polis, dikurangi dengan nilai sekarang dari                  present value of estimated future premiums to
       estimasi premi masa depan yang akan                          be received from policy holders, recognized
       diterima dari pemegang polis dan diakui pada                 consistently with the recognition of premium
       saat pengakuan pendapatan premi. Liabilitas                  income. Liability for future policy benefit is
       manfaat polis masa depan dinyatakan dalam                    stated in the consolidated statement of
       laporan     posisi  keuangan    berdasarkan                  financial position in accordance with the
       perhitungan aktuaria. Kenaikan (penurunan)                   actuarial calculation. Increase (decrease) in
       liabilitas manfaat polis masa depan diakui                   liability for future policy benefits is recognized
       sebagai beban (pendapatan) dalam laba rugi.                  as an expense (income) in the profit or loss.

   ac. Pinjaman Diterima dan Surat Berharga                     ac. Loans Received and Securities Issued
       yang Diterbitkan

       Pinjaman yang diterima dan surat berharga                    Loans received and securities issued are
       yang diterbitkan diukur pada biaya perolehan                 classified as financial liability measured at
       diamortisasi menggunakan metode suku                         amortized cost using the effective interest rate
       bunga efektif. Biaya transaksi yang dapat                    method. Transaction costs that are directly
       diatribusikan secara langsung dengan nilai                   attributable to the acquisition cost of loan
       perolehan pinjaman yang diterima dan surat                   received and securities issued are deducted
       berharga yang diterbitkan dikurangkan dari                   from the loans received and securities issued.
       jumlah pinjaman yang diterima dan surat
       berharga yang diterbitkan.

   ad. Kontrak Jaminan Keuangan dan Tagihan                     ad. Financial Guarantee Contracts and Other
       Komitmen Lainnya                                             Commitments Receivable

       Kontrak jaminan keuangan adalah kontrak                      Financial guarantee contracts are contracts
       yang mengharuskan penerbit untuk melakukan                   that require the issuer to make specified
       pembayaran kepada pemegang kontrak atas                      payments to reimburse the holder for a loss
       kerugian yang terjadi karena debitur tertentu                incurred because a specified debtor defaulted
       gagal untuk melakukan pembayaran pada saat                   to make payments when due, in accordance
       jatuh tempo, sesuai dengan ketentuan dari                    with the terms of a debt instrument. Such
       instrumen utang. Jaminan keuangan tersebut                   financial guarantees are given from Group to
       diberikan oleh Grup kepada bank, lembaga                     bank,      financial institutions   and   other
       keuangan dan badan-badan lainnya atas                        institutions on behalf of customers to secure
       nama debitur untuk menjamin kredit dan                       loans and other banking facilities and undrawn
       fasilitas-fasilitas perbankan lainnya dan                    loan facilities.
       penyediaan dana yang belum ditarik.

       Pengakuan awal jaminan keuangan dalam                        Initial recognition of financial guarantees in the
       laporan keuangan adalah sebesar nilai wajar                  consolidated       financial     statements      is
       pada saat jaminan diberikan. Nilai wajar                     recognized at fair value at the time the
       jaminan keuangan pada saat berlakunya                        guarantee is given. The fair value of financial
       transaksi pada umumnya sama dengan premi                     guarantee at the time of the transaction is
       yang diterima karena diberikan dengan syarat                 generally equal to the premium received, with
       dan kondisi normal dan nilai wajar awal                      normal terms and conditions, and the initial fair
       diamortisasi   sepanjang     umur   jaminan                  value is amortized over the life of financial
       keuangan.                                                    guarantee.




                                                       - 65 -
Page 388
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       Setelah pengakuan awal kontrak, jaminan                        Subsequently, these contracts are measured
       keuangan dicatat pada nilai yang lebih tinggi                  at the higher of amortized amount and the
       antara biaya perolehan diamortisasi dengan                     present value of any expected payment (when
       nilai kini pembayaran yang diharapkan akan                     a payment under the guarantee has become
       terjadi (ketika pembayaran atas jaminan                        probable) and the difference is charged to
       menjadi besar kemungkinan terjadinya), dan                     other operating expense in profit or loss.
       selisihnya    dibebankan    sebagai   beban
       operasional lainnya pada laba rugi.

   ae. Biaya Emisi Saham                                           ae. Stock Issuance Costs

       Biaya emisi saham disajikan sebagai                            The cost of issuing shares is presented as a
       pengurang akun tambahan modal disetor dan                      reduction in the additional paid-in capital
       tidak diamortisasi.                                            account and is not amortized.

   af. Pengakuan Pendapatan dan Beban                              af. Revenue and Expense Recognition

       1.   Pengakuan Pendapatan Bunga, Beban                         1.   Recognition of Interest Revenues,
            Bunga, Pendapatan dan Beban Syariah                            Interest Expense, Sharia Revenue, and
                                                                           Revenue Sharing Distribution

            Pendapatan dan Beban Bunga                                     Interest Revenue and Interest Expense

            Pendapatan dan beban bunga untuk                               Interest income and interest expense for
            semua instrumen keuangan diakui dalam                          all financial instruments are recognized in
            laba  rugi   secara  akrual   dengan                           profit or loss on accrual basis using the
            menggunakan metode suku bunga efektif.                         effective interest rate method.

            Pendapatan dan beban syariah                                   Syariah revenue and expense

            Pendapatan     syariah     terdiri  dari                       Syariah revenue consists of income from
            keuntungan    murabahah,     pendapatan                        murabahah     sharia,     income    from
            ijarah muntahiyah bittamlik (sewa), dan                        muntahiyah bittamlik ijarah (lease), and
            bagi hasil pembiayaan musyarakah dan                           profit sharing from mudharabah and
            mudharabah.                                                    musyarakah financing.

            Keuntungan murabahah dan pendapatan                            Income from murabahah and revenue
            ijarah muntahiyah bittamlik diakui selama                      from ijarah muntahiyah bittamlik are
            periode akad berdasarkan konsep akrual.                        recognized over the contract period on an
            Pendapatan bagi hasil pembiayaan                               accrual basis. Profit sharing income from
            mudharabah diakui pada saat diterima                           mudharabah financing are recognized
            atau dalam periode terjadinya hak bagi                         when received or within the period of
            hasil sesuai porsi bagi hasil (nisbah) yang                    entitlement based on profit sharing
            disepakati.                                                    agreement (nisbah).

            Beban berdasarkan prinsip syariah terdiri                      Expense based on sharia consists of profit
            dari beban bagi hasil mudharabah, beban                        sharing expense of mudharabah, wadiah
            bonus wadiah dan beban bagi hasil                              bonus expense and profit sharing expense
            Sertifikat Investasi Mudharabah Antar                          of Certificate of Sharia Interbank
            Bank Syariah.                                                  Mudharabah Investment.




                                                          - 66 -
Page 389
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       2.   Pengakuan Pendapatan         dan    Beban              2.   Recognition    Underwriting     Income     and
            Underwriting Asuransi                                       Expenses

            Pengakuan Pendapatan Premi                                  Premium Income Recognition

            Premi dari kontrak asuransi dan                             Premiums on insurance and reinsurance
            reasuransi jangka pendek diakui sebagai                     contracts    with    short-term    period  are
            pendapatan sesuai periode polis (kontrak)                   recognized as revenue over the policy contract
            berdasarkan proporsi jumlah proteksi                        period in proportion to the insurance coverage
            yang diberikan. Premi dari polis bersama                    provided. Premium from coinsurance is
            diakui sebesar pangsa premi Grup. Premi                     recognized as income based on the Group’s
            hak reasuradur diakui sebagai premi                         proportionate share in the premium. Premium
            asuransi    selama      periode   kontrak                   due to reinsurance company is recognized as
            reasuransi secara proporsional dengan                       reinsurance premium during the period of
            proteksi yang diperoleh.                                    reinsurance contract in proportion to the
                                                                        insurance coverage received.
            Premi belum merupakan pendapatan dari                       Unearned premiums on short-term insurance
            kontrak    asuransi      jangka   pendek                    contract determined for each kind of business
            ditentukan untuk masing-masing jenis                        are calculated based on net premium in
            pertanggungan      dihitung   berdasarkan                   proportion to the number of days until the
            premi neto sesuai dengan proporsi jumlah                    policy expires (daily proportional).
            hari sampai dengan polis berakhir
            (proporsional harian).
            Kenaikan atau penurunan premi yang                          The increase or decrease in unearned
            belum merupakan pendapatan adalah                           premiums represents the difference of the
            selisih antara saldo premi yang belum                       balances of unearned premiums between the
            merupakan pendapatan tahun berjalan                         current and the prior year.
            dan tahun lalu.

            Premi kontrak asuransi jangka panjang                       Premiums on long-term insurance contract are
            diakui sebagai pendapatan pada saat                         recognized as revenue on due date of policy
            jatuh tempo dari pemegang polis.                            holders.
            Grup mereasuransikan sebagian risiko                        The Group reinsured part of its total accepted
            atas akseptasi pertanggungan yang                           risk to other insurance and reinsurance
            diperoleh kepada perusahaan asuransi                        companies. The premium paid to the reinsurer
            lain dan perusahaan reasuransi. Jumlah                      or the insurer’s share in the premium on
            premi dibayar atau bagian premi atas                        prospective     reinsurance    transaction   is
            transaksi reasuransi prospektif diakui                      recognized as reinsurance premium (contra
            sebagai premi reasuransi sesuai periode                     premium account) over the reinsurance
            kontrak reasuransi secara proporsional                      contract period in proportion to the insurance
            dengan     proteksi     yang     diberikan.                 coverage provided. A payment or obligation for
            Pembayaran      atau     kewajiban     atas                 retrospective reinsurance transaction is
            transaksi reasuransi retrospektif diakui                    recognized as reinsurance receivable from the
            sebagai piutang reasuransi sebesar                          reinsurer in the amount equivalent to the
            kewajiban yang dibukukan sehubungan                         payment made or recorded liability in relation
            kontrak reasuransi tersebut.                                to the reinsurance contract.
            Pengakuan Beban Klaim                                       Claims Expense Recognition
            Beban klaim meliputi klaim disetujui                        Claims consist of settled claims, claims in
            (settled claims), klaim dalam proses                        process, claims incurred but not reported and
            penyelesaian termasuk klaim yang terjadi                    claims settlement expense. Claims are
            namun belum dilaporkan dan beban                            recognized as expense when the obligation to
            penyelesaian klaim. Beban klaim tersebut                    settle the claims incurred. The portion of
            diakui sebagai beban pada saat timbulnya                    claims received from reinsurance are
            kewajiban untuk memenuhi klaim. Bagian                      recognized and recorded as deduction from
            klaim reasuradur diakui dan dicatat                         claims expenses in the same period when the
            sebagai pengurang beban klaim pada                          claims expenses are recognized. Subrogation
            periode yang sama dengan periode                            rights are recognized as deduction from claims
            pengakuan beban klaim. Hak subrogasi                        expenses when realized.
            diakui sebagai pengurang beban klaim
            pada saat realisasi.




                                                          - 67 -
Page 390
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


            Jumlah klaim dalam proses penyelesaian                      The amount of claims in process (estimated
            (estimasi klaim) dihitung berdasarkan                       claims) are computed based on estimated
            estimasi kerugian dari klaim yang pada                      loss which at consolidated statements of
            tanggal     laporan    posisi   keuangan                    financial position date are still in process,
            konsolidasian masih dalam proses                            including claims incurred but not reported.
            penyelesaian, termasuk klaim yang sudah                     The changes in estimated claims are
            terjadi   namun      belum     dilaporkan.                  recognized in profit or loss at time of change.
            Perubahan dalam estimasi klaim diakui                       The increase or decrease in estimated claims
            dalam laba rugi pada tahun terjadinya                       represents the difference between the
            perubahan.       Kenaikan     (penurunan)                   estimated claims for the current year and the
            estimasi klaim adalah selisih antara klaim                  prior year.
            tahun berjalan dengan tahun lalu.

       3.   Pengakuan Pendapatan Jasa Biro                         3.   Recognition of Securities Administration,
            Administrasi Efek, Jasa Penjaminan                          Underwriting and Stock Brokerage Fees
            Emisi Efek dan Jasa Perantara                               and Investment Management Income
            Pedagang Efek serta Jasa Manajer
            Investasi

            Pendapatan atas jasa biro administrasi                      Securities    administration       fees,  stock
            efek, jasa perantara pedagang efek yang                     brokerage fees and underwriting fees are
            diterima dari nasabah sebagai imbalan                       recognized as income when the services for
            atas transaksi jual/beli efek yang                          trading of securities in the stock exchange and
            dilakukan di bursa efek dan jasa                            underwriting activities are rendered.
            penjaminan emisi efek diakui pada saat
            penyerahan jasa.

            Pendapatan atas jasa manajer investasi                      Investment management income is recognized
            diakui berdasarkan ketentuan yang                           based on agreed conditions as stated in the
            disepakati dalam kontrak investasi                          collective investment contract.
            kolektif.

       4.   Pengakuan     Pendapatan     dan    Beban              4.   Recognition       of    Other     Revenue       and
            Lainnya                                                     Expenses

            Provisi dan Komisi Terkait Instrumen                        Fees and Commissions Related to Financial
            Keuangan                                                    Instruments

            Pendapatan dan beban provisi komisi                         Commission income and expense fees
            yang terkait dengan perolehan instrumen                     associated with the acquisition of financial
            keuangan yang terkait jangka waktu                          instruments with maturnity term and that the
            tertentu yang jumlahnya signifikan, dicatat                 amount is significant, is recorded as part of the
            sebagai bagian dari nilai wajar aset atau                   fair value of financial assets or financial liability
            liabilitas keuangan dan diamortisasi                        and amortized over the term of the financial
            sesuai dengan jangka waktunya dengan                        instrument using the effective interest rate
            menggunakan suku bunga efektif.                             method.

            Provisi dan Komisi Lainnya                                  Other Fees and Commission

            Provisi dan komisi lainnya yang tidak                       Fees and commissions that are significant in
            terkait  dengan   kegiatan   perolehan                      amount and are not related to the issuance or
            instrumen keuangan dan jangka waktu                         acquisition of financial instruments and have
            tertentu yang jumlahnya signifikan,                         maturity terms are treated as deferred income
            ditangguhkan     dan       diamortisasi                     or expenses and amortized using the straight-
            menggunakan metode garis lurus sesuai                       line method over the term of the relevant
            dengan jangka waktu transaksi yang                          transaction.
            bersangkutan.




                                                          - 68 -
Page 391
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


           Pendapatan provisi dan komisi lainnya                    Other fees and commission revenues not
           meliputi pendapatan yang tidak terkait                   related to credit, such as bancaassurance
           dengan kredit, seperti jasa banca                        services, and revenues associated with import
           assurance, pendapatan sebagai pemimpin                   export and bank guarantee, are recognized as
           sindikasi, pendapatan terkait dengan                     revenue when the services rendered.
           ekspor impor dan bank garansi, diakui
           sebagai pendapatan pada saat jasa
           diberikan.

           Beban komisi                                             Commissions Expense

           Komisi yang diberikan kepada pialang                     Commissions due to insurance brokers, agents
           asuransi, agen dan perusahaan asuransi                   and other insurance companies in connection
           lain sehubungan dengan penutupan                         with the insurance coverage are recorded as
           pertanggungan dicatat sebagai beban                      commission expense when incurred, whereas
           komisi, sedangkan komisi yang diperoleh                  commissions obtained from reinsurance
           dari transaksi reasuransi dicatat sebagai                transactions are recorded as deduction from
           pendapatan komisi, dan diakui dalam laba                 commission expense and recognized when
           rugi pada saat terjadinya.                               earned.

           Pendapatan dan Beban Lainnya                             Other Income and Expense

           Pendapatan dari sewa operasi dibukukan                   Income from assets for lease (operating lease)
           dengan menggunakan metode garis lurus                    is recognized using the straight-line method
           selama masa periode sewa (Catatan 2l).                   over the lease period (Note 2l).

           Pendapatan administrasi yang terjadi                     Administration income incurred in relation with
           sehubungan dengan transaksi sewa,                        lease financing, multipurpose financing, and
           pembiayaan multiguna dan pembiayaan                      working capital financing with factoring scheme
           modal kerja skema anjak piutang masing-                  receivables are recognized when earned.
           masing diakui pada saat terjadinya.

           Pendapatan (beban) lainnya diakui pada                   Other income (expense) are recognized when
           saat terjadinya sesuai dengan masa                       earned (incurred) in accordance with their
           manfaatnya (accrual basis).                              beneficial period (accrual basis).

   ag. Imbalan Kerja                                             ag. Employee Benefits

       Liabilitas Imbalan kerja jangka pendek                       Short-term employee benefits liability

       Imbalan kerja jangka pendek diakui sebesar                   Short-term employee benefits are recognized
       jumlah yang tak-terdiskonto sebagai liabilitas               at its undiscounted amount as a liability after
       pada laporan posisi keuangan konsolidasian                   deducting any amount already paid in the
       setelah dikurangi dengan jumlah yang telah                   consolidated statement of financial position
       dibayar dan sebagai beban dalam laba rugi.                   and as an expense in profit or loss.

       Liabilitas Imbalan kerja jangka panjang                      Long-term employee benefits liability

       Manfaat yang ditentukan                                      Defined benefits

       Liabilitas imbalan kerja jangka panjang                      Long-term      employee     benefits     liability
       merupakan manfaat pasti yang dibentuk                        represents post-employment benefits, funded
       dengan pendanaan khusus melalui program                      defined-benefit plans through a certain pension
       dana pensiun dan didasarkan pada masa kerja                  fund which amounts are determined based on
       dan jumlah penghasilan karyawan pada saat                    years of service and salaries of the employees
       pensiun yang dihitung menggunakan metode                     at the time of pension and calculated using the




                                                        - 69 -
Page 392
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       Projected Unit Credit. Pengukuran kembali                      Projected Unit Credit. Remeasurement is
       liabilitas imbalan pasti langsung diakui dalam                 reflected immediately in the statement of
       laporan posisi keuangan dan penghasilan                        financial position with a charge or credit
       komprehensif lain pada periode terjadinya dan                  recognized in other comprehensive income in
       tidak akan direklasifikasi ke laba rugi, namun                 the period in which they occur and not to be
       menjadi bagian dari saldo laba. Biaya liabilitas               reclassified to profit or loss but reflected
       imbalan pasti lainnya terkait dengan program                   immediately in retained earnings. All other
       imbalan pasti diakui dalam laba rugi.                          costs related to the defined-benefit plan are
                                                                      recognized in profit or loss.

       Presiden      Republik    Indonesia     telah                  The President of the Republic of Indonesia has
       menetapkan Peraturan Pemerintah Pengganti                      issued Government Regulation in Lieu of Law
       Undang-Undang No. 2 Tahun 2022 tentang                         No. 2 of 2022 concerning Job Creation
       Cipta Kerja (Perppu Cipta Kerja 2/2022) pada                   (Perppu Cipta Kerja 2/2022) on December 30,
       tanggal 30 Desember 2022 yang merupakan                        2022 which is the implementation of the
       pelaksanaan dari Putusan MK Nomor 91/PUU-                      Constitutional Court Decision Number 91/PUU-
       XVIII/2020. Dengan berlakunya Perppu ini, UU                   XVIII/2020. With the enactment of this Perppu,
       No. 11/2020 tentang Cipta Kerja dicabut dan                    Law No. 11/2020 concerning Job Creation is
       dinyatakan tidak berlaku.                                      repealed and declared invalid.

       PP 35/2021 mengatur mengenai perjanjian                        PP 35/2021 regulates the work agreement for
       kerja waktu tertentu (karyawan tidak tetap),                   a certain period (non-permanent employees),
       alih daya, waktu kerja, waktu istirahat dan                    outsourcing, working time, rest time and
       pemutusan hubungan kerja, yang dapat                           termination of employment, which can affect
       mempengaruhi manfaat imbalan minimum                           the minimum benefits that must be provided to
       yang harus diberikan kepada karyawan.                          employees.

       Penyisihan dihitung dengan membandingkan                       The provision has been calculated by
       manfaat yang akan diterima oleh karyawan                       comparing the benefit that will be received by
       pada umur wajar pensiun dari dana pensiun                      an employee at normal pension age from the
       dengan manfaat yang diatur dalam Perppu                        pension plan with the benefit as stipulated
       Cipta Kerja 2/2022 setelah dikurangi                           under Perppu Cipta Kerja 2/2022 after
       akumulasi kontribusi dari karyawan dan hasil                   deduction      of   accumulated       employee
       investasi yang berkaitan. Jika manfaat dana                    contributions and the related investment
       pensiun yang didanai pemberi kerja lebih kecil                 results. If the employer-funded portion of the
       dari manfaat sesuai Perppu Cipta Kerja                         pension plan benefit is less than the benefit as
       2/2022, Perusahaan akan menyediakan                            required by Perppu Cipta Kerja 2/2022, the
       kekurangannya.                                                 Company will provide for such shortage.

       Kontribusi yang ditentukan                                     Defined contributions

       Liabilitas imbalan kerja jangka panjang                        Long-term        employee     benefits    liability
       merupakan imbalan pasca-kerja iuran pasti                      represents post-employment benefits, defined-
       melalui dana pensiun dan didasarkan pada                       contribution plans through a certain pension
       masa kerja dan jumlah penghasilan karyawan                     fund which amounts are determined based on
       saat pensiun. Jumlah iuran yang terutang                       years of service and salaries of the employees
       diakui sebagai liabilitas pada laporan posisi                  at the time of pension. The contribution
       keuangan konsolidasian setelah dikurangi                       payable is accrued as a liability after deducting
       dengan jumlah yang telah dibayar dan sebagai                   any amount already paid in the consolidated
       beban dalam laba rugi.                                         statement of financial position and an expense
                                                                      in profit or loss.

       Jika ada bagian iuran yang jatuh tempo dalam                   If a part of the contributions falls due in a
       waktu lebih dari (12) bulan setelah tanggal                    period in excess of twelve (12) months from
       laporan posisi keuangan, maka iuran tersebut                   the statement of financial position date, the
       disajikan sebesar nilai kini liabilitas yang                   contributions are presented at its discounted
       didiskontokan.                                                 amount.

       Manfaat iuran pasti ditentukan berdasarkan                     Defined contribution plans benefits are
       akumulasi iuran dan hasil pengembangan                         determined      based      on      accumulated
       investasi.                                                     contributions and returns on investments.




                                                          - 70 -
Page 393
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


   ah. Pajak Penghasilan                                           ah. Income Tax

       Pajak Kini                                                      Current Tax

       Pajak kini ditentukan berdasarkan laba kena                     Current tax expense is determined based on
       pajak dalam tahun yang bersangkutan yang                        the taxable income for the year computed
       dihitung berdasarkan tarif pajak yang berlaku.                  using prevailing tax rates.

       Pajak Tangguhan                                                 Deferred Tax

       Pajak tangguhan diakui sebagai liabilitas jika                  Deferred tax is provided using the liability
       terdapat perbedaan temporer kena pajak yang                     method on temporary differences between the
       timbul dari perbedaan antara dasar pengenaan                    tax bases of assets and liabilities and their
       pajak aset dan liabilitas dengan jumlah                         carrying amounts for financial reporting
       tercatatnya pada tanggal pelaporan.                             purposes at the reporting date.

       Aset pajak tangguhan diakui untuk seluruh                       Deferred tax assets are recognized for all
       perbedaan temporer yang dapat dikurangkan                       deductible temporary differences and the carry
       dan rugi fiskal yang dapat dikompensasikan.                     forward tax benefit of any unused tax losses.
       Aset pajak tangguhan diakui dan direviu pada                    Deferred tax assets are recognized and
       setiap tanggal pelaporan atau diturunkan                        reviewed at each reporting date and reduced
       jumlah tercatatnya, sepanjang kemungkinan                       to the extent that it is probable that taxable
       besar laba kena pajak tersedia untuk                            profit will be available against which the
       pemanfaatan perbedaan temporer yang dapat                       deductible temporary differences and the carry
       dikurangkan dan rugi fiskal yang dapat                          forward benefit of unused tax losses can be
       dikompensasikan.                                                utilized.

       Aset dan liabilitas pajak tangguhan diukur                      Deferred tax assets and liabilities are
       dengan menggunakan tarif pajak yang                             measured at the tax rates that are expected to
       diharapkan berlaku ketika aset dipulihkan atau                  apply when the asset is realized or the liability
       liabilitas diselesaikan, berdasarkan tarif pajak                is settled, based on tax rates (or tax laws) that
       (atau peraturan pajak) yang telah berlaku atau                  have been enacted or substantively enacted at
       secara substantif telah berlaku pada tanggal                    the reporting date.
       pelaporan.

       Aset pajak tangguhan dan liabilitas pajak                       Deferred tax assets and deferred tax liabilities
       tangguhan saling hapus jika dan hanya jika,                     are offset if and only if, a legally enforceable
       terdapat hak yang dipaksakan secara hukum                       right exists to set off current tax assets against
       untuk melakukan saling hapus aset pajak kini                    current tax liabilities and the deferred taxes
       terhadap liabilitas pajak kini dan pajak                        relate to the same taxable entity and the same
       tangguhan tersebut terkait dengan entitas                       taxation authority.
       kena pajak yang sama dan dikenakan oleh
       otoritas perpajakan yang sama.

   ai. Distribusi Dividen                                          ai. Dividend Distribution

       Distribusi dividen kepada pemegang saham                        Dividend distribution to the Company’s
       Perusahaan diakui sebagai liabilitas dalam                      shareholders is recognized as a liability in the
       laporan keuangan konsolidasian dalam                            consolidated financial statements in the period
       periode saat dividen tersebut disetujui oleh                    in which the dividends are approved by the
       pemegang saham Perusahaan.                                      Company’s shareholders.

   aj. Laba Per Saham                                              aj. Earnings per Share

       Laba per saham dasar dihitung dengan                            Basic earnings per share is computed by
       membagi laba bersih yang dapat diatribusikan                    dividing net profit attributable to owners of the
       kepada pemilik entitas induk dengan jumlah                      Company by the weighted average number of
       rata-rata tertimbang saham yang beredar pada                    shares outstanding during the year.
       tahun yang bersangkutan.




                                                          - 71 -
Page 394
PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                         unless otherwise stated)


     ak. Informasi Segmen                                                  ak. Segment Information

         Informasi segmen disusun sesuai dengan                                Segment information is prepared using the
         kebijakan akuntansi yang dianut dalam                                 accounting policies adopted for preparing and
         penyusunan dan penyajian laporan keuangan                             presenting    the    consolidated    financial
         konsolidasian.                                                        statements.

         Segmen operasi diidentifikasi berdasarkan                             Operating segments are identified on the basis
         laporan internal komponen-komponen Grup                               of internal reports about components of the
         yang secara berkala dilaporkan kepada                                 Group that are regularly reviewed by the chief
         pengambil keputusan operasional dalam                                 operating decision maker in order to allocate
         rangka alokasi sumber daya ke dalam segmen                            resources to the segments and to assess their
         dan penilaian kinerja Grup.                                           performances.

     al. Provisi                                                           al. Provisions

         Provisi diakui jika Grup mempunyai liabilitas                         Provisions are recognized when the Group has
         kini (hukum maupun konstruktif) sebagai                               present obligation (legal or constructive) as a
         akibat     peristiwa   masa   lalu,    yang                           result of a past event, it is probable that the
         memungkinkan Grup harus menyelesaikan                                 Group will be required to settle the obligation,
         kewajiban tersebut dan estimasi yang andal                            and a reliable estimate can be made of the
         mengenai jumlah liabilitas tersebut dapat                             amount of the obligation.
         dibuat.

         Jumlah yang diakui sebagai provisi adalah                             The amount recognized as a provision is the
         hasil estimasi terbaik pengeluaran yang                               best estimate of the consideration required to
         diperlukan untuk menyelesaikan kewajiban kini                         settle the obligation at the reporting date,
         pada       tanggal      pelaporan,   dengan                           taking into account the risks and uncertainties
         mempertimbangkan risiko dan ketidakpastian                            surrounding the obligation.
         terkait kewajiban tersebut.

     am. Peristiwa Setelah Periode Pelaporan                              am. Events after the Reporting Period

         Peristiwa-peristiwa yang terjadi setelah                              Post year-end events that provide additional
         periode    pelaporan       yang    menyediakan                        information about the Group’s consolidated
         tambahan      informasi       mengenai    posisi                      financial position at the reporting date
         keuangan Grup pada tanggal laporan posisi                             (adjusting events), if any, are reflected in the
         keuangan (peristiwa penyesuai), jika ada, telah                       consolidated financial statements. Post year-
         tercermin dalam laporan keuangan. Peristiwa-                          end events that are not adjusting events are
         peristiwa yang terjadi setelah periode                                disclosed in the notes to the consolidated
         pelaporan      yang        tidak    memerlukan                        financial statements when material.
         penyesuaian       (peristiwa     non-penyesuai),
         apabila jumlahnya material, telah diungkapkan
         dalam laporan keuangan.


3.   Penggunaan Estimasi,         Pertimbangan      dan              3.    Management Use of Estimates, Judgments and
     Asumsi Manajemen                                                      Assumptions

     Dalam penerapan kebijakan akuntansi Grup,                             In applying of the Group’s accounting policies,
     seperti yang diungkapkan dalam Catatan 2 pada                         which are described in Note 2 to the consolidated
     laporan keuangan konsolidasian, manajemen                             financial statements, management is required to
     harus membuat estimasi, pertimbangan, dan                             make estimates, judgments, and assumptions
     asumsi atas nilai tercatat aset dan liabilitas yang                   about the carrying amounts of assets and liabilities
     tidak tersedia oleh sumber-sumber lain. Estimasi                      that are not readily available from other sources.
     dan asumsi tersebut, berdasarkan pengalaman                           The estimates and assumptions are based on
     historis dan faktor lain yang dipertimbangkan                         historical experience and other factors that are
     relevan.                                                              considered to be relevant.




                                                            - 72 -
Page 395
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


   Manajemen berkeyakinan bahwa pengungkapan                       Management believes that the following represent
   berikut telah mencakup ikhtisar estimasi,                       a summary of the significant estimates, judgments,
   pertimbangan dan asumsi signifikan yang dibuat                  and assumptions made that affected certain
   oleh manajemen, yang berpengaruh terhadap                       reported amounts and disclosures in the
   jumlah-jumlah    yang     dilaporkan     serta                  consolidated financial statements.
   pengungkapan    dalam    laporan     keuangan
   konsolidasian.

   Pertimbangan                                                    Judgments

   Pertimbangan-pertimbangan berikut dibuat oleh                   The following judgments are made by management
   manajemen dalam proses penerapan kebijakan                      in the process of applying the Group’s accounting
   akuntansi Grup yang memiliki dampak yang paling                 policies that have the most significant effects on
   signifikan terhadap jumlah-jumlah yang diakui                   the amounts recognized in the consolidated
   dalam laporan keuangan konsolidasian:                           financial statements:

   a.   Mata Uang Fungsional                                       a.   Functional Currency

        Dalam proses penerapan kebijakan akuntansi                      In the process of applying the Group’s
        Grup,      manajemen        telah    membuat                    accounting policies, management has made
        pertimbangan untuk menentukan mata uang                         judgment on the determination of functional
        fungsional entitas anak luar negeri.                            currency of the foreign subsidiaries.

        Mata uang fungsional Perusahaan dan entitas                     The functional currency of the Company and
        anak adalah mata uang lingkungan ekonomi                        its subsidiaries is the currency of the primary
        utama     dimana    masing-masing    entitas                    economic environment in which each of them
        beroperasi. Mata uang tersebut adalah yang                      operates. It is the currency, among others, that
        paling mempengaruhi harga jual barang dan                       mainly influences sales prices for goods and
        jasa, dan mata uang dari negara yang                            services, and of the country whose competitive
        kekuatan persaingan dan peraturannya                            forces and regulations mainly determine the
        sebagian besar menentukan harga jual barang                     sales prices of its goods and services, and the
        dan jasa entitas, dan merupakan mata uang                       currency in which funds from financing
        yang mana dana dari aktivitas pendanaan                         activities are generated.
        dihasilkan.

   b.   Klasifikasi Aset Keuangan dan Liabilitas                   b.   Classification of Financial Assets and
        Keuangan                                                        Financial Liabilities

        Grup menentukan klasifikasi aset dan liabilitas                 The Group determines the classifications of
        tertentu sebagai aset keuangan dan liabilitas                   certain assets and liabilities as financial assets
        keuangan dengan menilai apakah aset dan                         and liabilities by judging if they meet the
        liabilitas tersebut memenuhi kriteria yang                      criteria set forth in PSAK No. 71. Accordingly,
        ditetapkan dalam PSAK No. 71. Aset                              the financial assets and liabilities are
        keuangan dan liabilitas keuangan dicatat                        accounted for in accordance with the Group’s
        sesuai dengan kebijakan akuntansi Grup                          accounting policies as disclosed in Note 2.
        sebagaimana diungkapkan dalam Catatan 2.

   c.   Cadangan Kerugian Penurunan Nilai                          c.   Allowance for Impairment of Financial
                                                                        Assets

        Pada setiap tanggal pelaporan, Grup menilai                     At each reporting date, the Group assesses
        apakah risiko kredit atas instrumen keuangan                    whether the credit risk of a financial instrument
        telah meningkat secara signifikan sejak                         has increased significantly since initial
        pengakuan awal. Ketika melakukan penilaian                      recognition. When making the assessment, the
        tersebut, Grup mempertimbangkan perubahan                       Group uses the change in the risk of default
        risiko gagal bayar yang terjadi selama umur                     over the expected life of the financial
        instrumen keuangan. Dalam melakukan                             instrument. To make that assessment,
        penilaian tersebut, Grup membandingkan                          The Group compares the risk of default
        risiko gagal bayar yang terjadi pada tanggal                    occurring on the financial instrument as at the
        pelaporan dengan risiko gagal bayar pada saat                   reporting date with the risk of default occurring




                                                          - 73 -
Page 396
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       pengakuan awal, serta mempertimbangkan                          on the financial instrument as at the date of
       informasi, termasuk informasi masa lalu,                        initial recognition and consider reasonable and
       kondisi saat ini, dan informasi bersifat                        supportable information, including past data,
       perkiraan masa depan (forward-looking), yang                    current     conditions    and    forward-looking
       wajar dan terdukung yang tersedia tanpa biaya                   information, that is available without undue
       atau upaya berlebihan.                                          cost or effort.

       Grup mengukur cadangan kerugian sepanjang                       The Group measures the loss allowance for a
       umurnya, jika risiko kredit atas instrumen                      financial instrument at an amount equal to the
       keuangan tersebut telah meningkat secara                        lifetime expected credit losses if the credit risk
       signifikan sejak pengakuan awal, jika tidak,                    on that financial instrument has increased
       maka Grup mengukur cadangan kerugian                            significantly since initial recognition, otherwise,
       untuk instrumen keuangan tersebut sejumlah                      the Group measures the loss allowance for
       kerugian kredit ekspektasian 12 bulan. Suatu                    that financial instrument at an amount equal to
       evaluasi yang bertujuan untuk mengidentifikasi                  12-month expected credit losses. Evaluation of
       jumlah cadangan kerugian ekspektasian yang                      financial assets to determine the allowance for
       harus dibentuk, dilakukan secara berkala pada                   expected loss to be provided is performed
       setiap periode pelaporan. Oleh karena itu, saat                 periodically in each reporting period.
       dan besaran jumlah cadangan kerugian                            Therefore, the timing and amount of allowance
       ekspektasian yang tercatat pada setiap                          for expected credit loss recorded at each
       periode dapat berbeda tergantung pada                           period might differ based on the judgments
       pertimbangan atas informasi yang tersedia                       and estimates that are available or valid at
       atau berlaku pada saat itu.                                     each period.
       Nilai tercatat aset keuangan Grup dalam                         The carrying values of the Group’s financial
       kategori aset keuangan pada biaya perolehan                     assets at amortized cost as at December 31,
       diamortisasi tanggal 31 Desember 2023 dan                       2023 and 2022 are as follows:
       2022 adalah sebagai berikut:

                                                2023               2022

       Kas dan bank                              9.533.705         6.623.632 Cash and cash in banks
       Investasi jangka pendek                                               Short-term investments
          Penempatan pada Bank
          Indonesia                                                              Placements in Bank Indonesia
          dan Bank lain                          6.589.633         4.802.861        and with other banks
          Deposito berjangka                     3.406.268         3.259.823     Time deposits
          Efek-efek                              2.536.850         3.245.107     Securities
       Piutang pembiayaan                                                      Multipurpose financing
          multiguna - bersih                     1.436.026         1.783.300     receivables - net
       Piutang Pembiayaan                                                      Working capital financing
          Modal Kerja                                                            with factoring
          Skema anjak piutang                    2.513.517         3.591.010     scheme receivables - net
       Piutang transaksi efek                      154.722           584.186   Securities transaction receivables
       Piutang lain-lain - bersih                2.982.864         3.488.681   Other receivables - net
       Kredit yang diberikan- bersih            15.085.409        12.698.632   Loans - net
       Tagihan akseptasi - bersih                   78.304            77.389   Acceptance receivables - net
       Aset lain-lain                               81.477            52.474   Other assets

       Jumlah                                   44.398.775        40.207.095 Total



  d.   Komitmen Sewa                                              d.   Lease Commitmens

       Grup Sebagai Penyewa                                            Group as Lessee

       Grup     telah  menandatangani      sejumlah                    The Group has entered into various lease
       perjanjian sewa ruangan, kendaraan, mesin                       agreements      for   commercial       spaces,
       dan peralatan. Grup menentukan bahwa sewa                       machineries and equipment. The Group has
       tersebut memenuhi kriteria pengakuan dan                        determined that those leases meet the criteria
       pengukuran aset hak-guna dan liabilitas sewa                    for recognition and measurement of right-to-
       sesuai dengan PSAK No. 73, Sewa.                                use assets and lease liabilities in accordance
                                                                       with PSAK No. 73, Leases.




                                                         - 74 -
Page 397
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


        Grup Sebagai Pesewa                                             Group as Lessor

        Grup     telah   menandatangani   sejumlah                      The Group has entered into various
        perjanjian sewa ruangan. Grup menentukan                        commercial space lease agreements. The
        bahwa sewa tersebut adalah sewa operasi                         Group has determined that those are
        karena Grup menanggung secara signifikan                        operating leases since the Group bears
        seluruh risiko dan manfaat dari kepemilikan                     substantially all the significant risks and
        aset-aset tersebut.                                             rewards of ownership of the related assets.

   e.   Pajak Penghasilan                                          e.   Income Tax

        Pertimbangan yang signifikan dibutuhkan                         Significant judgment is required in determining
        untuk menentukan jumlah pajak penghasilan.                      the provision for income taxes. There are
        Terdapat sejumlah transaksi dan perhitungan                     many transactions and calculations for which
        yang menimbulkan ketidakpastian penentuan                       the ultimate tax determination is uncertain due
        jumlah pajak penghasilan karena interpretasi                    to different interpretation of tax regulations.
        atas peraturan pajak yang berbeda. Jika hasil                   Where the final tax outcome of these matters
        pemeriksaan pajak berbeda dengan jumlah                         is different from the amounts that were initially
        yang sebelumnya telah dibukukan, maka                           recorded, such differences will have an impact
        selisih tersebut akan berdampak terhadap aset                   on the current and deferred income tax assets
        dan liabilitas pajak kini dan tangguhan dalam                   and liabilities in the period in which such
        periode dimana hasil pemeriksaan tersebut                       determination is made.
        terjadi.

   Estimasi dan Asumsi                                             Estimates and Assumptions

   Asumsi utama mengenai masa depan dan sumber                     The key assumptions concerning the future and
   utama lain dalam mengestimasi ketidakpastian                    other key sources of estimation uncertainty at the
   pada tanggal pelaporan yang mempunyai risiko                    reporting date that have a significant risk of causing
   signifikan yang dapat menyebabkan penyesuaian                   a material adjustment to the carrying amounts of
   material terhadap nilai tercatat aset dan liabilitas            assets and liabilities within the next financial period
   dalam periode berikutnya diungkapkan di bawah                   are disclosed below. The Group based its
   ini. Grup mendasarkan asumsi dan estimasi pada                  assumptions and estimates on parameters
   parameter yang tersedia saat laporan keuangan                   available when the consolidated financial
   konsolidasian disusun. Kondisi yang ada dan                     statements were prepared. Existing circumstances
   asumsi mengenai perkembangan masa depan                         and assumptions about future developments may
   dapat berubah karena perubahan situasi pasar                    change due to market changes on circumstances
   yang berada di luar kendali Grup. Perubahan                     arising beyond the control of the Group. Such
   tersebut tercermin dalam asumsi ketika keadaan                  changes are reflected in the assumptions when
   tersebut terjadi:                                               they occur:

   a.   Nilai Wajar Aset Keuangan dan Liabilitas                   a.   Fair Value of Financial           Assets     and
        Keuangan                                                        Financial Liabilities

        Standar Akuntansi Keuangan di Indonesia                         Indonesian Financial Accounting Standards
        mensyaratkan pengukuran aset keuangan dan                       require measurement of certain financial
        liabilitas keuangan tertentu pada nilai                         assets and liabilities at fair values, and the
        wajarnya, dan penyajian ini mengharuskan                        disclosure requires the use of estimates.
        penggunaan estimasi. Komponen pengukuran                        Significant    component      of   fair   value
        nilai wajar yang signifikan ditentukan                          measurement is determined based on
        berdasarkan bukti-bukti obyektif yang dapat                     verifiable objective evidence (i.e. foreign
        diverifikasi (seperti nilai tukar, suku bunga),                 exchange rate, interest rate), while timing and
        sedangkan saat dan besaran perubahan nilai                      amount of changes in fair value might differ
        wajar dapat menjadi berbeda karena                              due to different valuation method used.
        penggunaan metode penilaian yang berbeda.

        Nilai wajar aset keuangan dan liabilitas                        The fair value of financial assets and liabilities
        keuangan diungkapkan pada Catatan 51.                           are set out in Note 51.




                                                          - 75 -
Page 398
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


   b.   Estimasi Masa Manfaat Properti Investasi                    b.   Estimated Useful Lives of Investment
        dan Aset Tetap                                                   Properties and Property, Plant and
                                                                         Equipment

        Masa manfaat dari masing-masing properti                         The useful life of each of the item of the
        investasi dan aset tetap Grup diestimasi                         Group’s investment properties and property,
        berdasarkan jangka waktu aset tersebut                           plant and equipment are estimated based on
        diharapkan tersedia untuk digunakan. Estimasi                    the period over which the asset is expected to
        tersebut didasarkan pada penilaian kolektif                      be available for use. Such estimation is based
        berdasarkan bidang usaha yang sama,                              on a collective assessment of similar business,
        evaluasi teknis internal dan pengalaman                          internal technical evaluation and experience
        dengan aset sejenis. Estimasi masa manfaat                       with similar assets. The estimated useful life of
        setiap aset ditelaah secara berkala dan                          each asset is reviewed periodically and
        diperbarui jika estimasi berbeda dari perkiraan                  updated if expectations differ from previous
        sebelumnya       yang     disebabkan     karena                  estimates due to physical wear and tear,
        pemakaian, usang secara teknis atau                              technical or commercial obsolescence, and
        komersial serta keterbatasan hak atau                            legal or other limits on the use of the asset. It
        pembatasan lainnya terhadap penggunaan                           is possible, however, that future results of
        aset. Dengan demikian, hasil operasi di masa                     operations could be materially affected by
        mendatang mungkin dapat terpengaruh secara                       changes in the amounts and timing of
        signifikan oleh perubahan dalam jumlah dan                       recorded expenses brought about by changes
        waktu terjadinya biaya karena perubahan yang                     in the factors mentioned above. A reduction in
        disebabkan oleh faktor-faktor yang disebutkan                    the estimated useful life of any item of
        di atas. Penurunan estimasi masa manfaat                         investment properties and property plant and
        ekonomis       setiap    aset    tetap     akan                  equipment would increase the recorded
        menyebabkan kenaikan beban penyusutan                            depreciation and decrease the carrying values
        dan penurunan nilai tercatat aset tetap.                         of these assets.

        Nilai tercatat properti investasi dan aset tetap                 The carrying value of these assets are set out
        diungkapkan pada Catatan 17 dan 18.                              in Notes 17 and 18.

   c.   Penilaian Aset Reasuransi dan Liabilitas                    c.   Valuation of Reinsurance           Asset    and
        Kontrak Asuransi                                                 Insurance Contract Liabilities

        Estimasi Liabilitas Klaim                                        Estimated Claims Liability

        Cadangan klaim yang sudah dilaporkan                             Reserves for reported claims are based on
        dibentuk berdasarkan estimasi pembayaran                         estimates of future payments to settle reported
        klaim di masa datang dengan menggunakan                          claims based on the facts available at the time
        fakta-fakta yang tersedia pada saat cadangan                     the reserves are established.
        ditetapkan.

        Cadangan atas klaim yang sudah terjadi                           Reserve for incurred claim but not yet reported
        namun belum dilaporkan dibentuk dengan                           is calculated using generally accepted
        menggunakan metode perhitungan yang                              regulation in Indonesia. The main assumption
        berlaku umum di Indonesia. Asumsi utama                          underlying this method is the past claim
        yang mendasari metode tersebut adalah                            experience and discount rate.
        pengalaman klaim masa lalu dan tingkat
        diskonto.

        Manfaat Polis Masa Depan                                         Future Policy Benefits

        Penentuan liabilitas manfaat polis masa depan                    The determination of liability for future policy
        dipengaruhi oleh asumsi tertentu yang                            benefits is dependent on the selection of
        digunakan aktuaris dalam menghitung jumlah                       certain assumptions used by actuary in
        tersebut, mencakup, antara lain, rasio klaim,                    calculating the amount such as, among others,
        tingkat pembatalan polis, rasio biaya, inflasi                   claim ratio, policy cancelation rate, cost ratio,
        dan tingkat diskonto.                                            inflation and discount rate.




                                                           - 76 -
Page 399
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


        Aset Reasuransi                                               Reinsurance Assets

        Aset yang timbul dari kontrak reasuransi juga                 Assets arising from reinsurance/ retrocession
        dihitung dengan menggunakan metode yang                       contracts are also computed using the same
        sama dengan liabilitas kontrak asuransi. Selain               methods as insurance contract liabilities. In
        itu, pemulihan aset ini dinilai secara periodik               addition, the recoverability of these assets is
        untuk     memastikan      bahwa       jumlahnya               assessed on a periodic basis to ensure that
        mencerminkan jumlah yang pada akhirnya                        the balance is reflecting the amounts that will
        akan diterima, mempertimbangkan faktor-                       ultimately    be     received,     taking  into
        faktor seperti counterparty dan risiko kredit.                consideration factors such as counterparty and
        Penurunan nilai diakui di mana terdapat bukti                 credit risk. Impairment is recognized where
        objektif bahwa Perusahaan tidak dapat                         there is objective evidence that the Group may
        menerima jumlah yang terutang untuk itu dan                   not received amounts due to it and these
        jumlah ini dapat diukur secara andal.                         amounts can be measured reliably.

        Pengujian Kecukupan Liabilitas                                Liability Adequacy Test

        Pada tanggal pelaporan, keseluruhan jumlah                    At the reporting date, all recorded insurance
        liabilitas asuransi yang dicatat meliputi                     liabilities, which consists of premium reserve
        cadangan premi dan cadangan klaim, telah                      and claim reserve, has been tested for
        dilakukan pengujian kecukupan liabilitas                      adequacy liabilities by using actuarial technical
        dengan menggunakan perhitungan teknik                         method that use the future actuarial
        aktuaria yang menggunakan asumsi dan                          assumption and estimation. The management
        estimasi aktuaria masa depan. Manajemen                       believes that the result of the liability adequacy
        meyakini bahwa hasil tes kecukupan liabilitas                 test at the reporting date is adequate.
        pada tanggal pelaporan telah memadai.

   d.   Imbalan Kerja Jangka Panjang                               d. Long-term Employee Benefits

        Penentuan liabilitas imbalan kerja jangka                     The determination of the long-term employee
        panjang dipengaruhi oleh asumsi tertentu yang                 benefits is dependent on the selection of
        digunakan oleh aktuaris dalam menghitung                      certain assumptions used by actuary in
        jumlah tersebut. Asumsi-asumsi tersebut                       calculating such amounts. Those assumptions
        dijelaskan dalam Catatan 46 dan mencakup,                     are described in Note 46 and include, among
        antara lain, tingkat kenaikan gaji, dan tingkat               others, rate of salary increase, and discount
        diskonto yang ditentukan dengan mengacu                       rate which is determined after giving
        pada imbal atas bunga obligasi pemerintah                     consideration to interest rates of high-quality
        dalam mata uang yang sama dengan mata                         corporate bonds that are denominated in the
        uang pembayaran imbalan dan memiliki                          currency in which the benefits are to be paid
        jangka waktu yang mendekati estimasi jangka                   and have terms of maturity approximating the
        waktu liabilitas imbalan kerja jangka panjang                 terms of the related employee benefits liability.
        tersebut. Hasil aktual yang berbeda dengan                    Actual results that differ from the Group’s
        asumsi Grup dibukukan pada penghasilan                        assumptions      are    charged    to     other
        komprehensif lain dan dengan demikian,                        comprehensive      income     and    therefore,
        berdampak       pada    jumlah     penghasilan                generally affect the recognized other
        komprehensif lain yang diakui dan liabilitas                  comprehensive       income    and     recorded
        yang      tercatat    pada     periode-periode                obligation in such future periods. While it is
        mendatang. Manajemen berkeyakinan bahwa                       believed that the Group’s assumptions are
        asumsi-asumsi yang digunakan adalah tepat                     reasonable       and appropriate, significant
        dan wajar, namun demikian, perbedaan                          differences in actual experience or significant
        signifikan pada hasil aktual, atau perubahan                  changes in assumptions may materially affect
        signifikan dalam asumsi-asumsi tersebut dapat                 the amount of long-term employee benefits
        berdampak signifikan pada jumlah liabilitas                   liability.
        imbalan kerja jangka panjang.

        Nilai tercatat liabilitas imbalan kerja jangka                The carrying value of long-term employee
        panjang diungkapkan pada Catatan 46.                          benefits liability is disclosed in Note 46.




                                                          - 77 -
Page 400
PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                         unless otherwise stated)


     e.     Aset Pajak Tangguhan                                           e.    Deferred Tax Assets

            Aset pajak tangguhan diakui untuk semua                              Deferred tax assets are recognized for all
            perbedaan temporer antara nilai tercatat aset                        temporary differences between the financial
            dan liabilitas pada laporan keuangan dengan                          statements’ carrying amounts of existing
            dasar pengenaan pajak jika kemungkinan                               assets and liabilities and their respective taxes
            besar jumlah laba kena pajak akan memadai                            bases to the extent that it is probable that
            untuk pemanfaatan perbedaan temporer yang                            taxable profit will be available against which
            diakui. Estimasi manajemen yang signifikan                           the temporary differences can be utilized.
            diperlukan untuk menentukan jumlah aset                              Significant     management       estimates    are
            pajak tangguhan yang diakui berdasarkan                              required to determine the amount of deferred
            kemungkinan waktu terealisasinya dan jumlah                          tax assets that can be recognized, based upon
            laba kena pajak pada masa mendatang serta                            the likely timing and the level of future taxable
            strategi perencanaan pajak masa depan.                               profits together with future tax planning
                                                                                 strategies.

            Nilai  tercatat  aset    pajak     tangguhan                         The carrying value of deferred tax assets is
            diungkapkan pada Catatan 47.                                         disclosed in Note 47.

     f.     Penurunan Nilai Aset Non-Keuangan                              f.    Impairment of Non-Financial Assets

            Penelaahan atas penurunan nilai dilakukan                            Impairment review is performed when certain
            apabila terdapat indikasi penurunan nilai aset                       impairment indicators are present. Determining
            tertentu.   Penentuan     nilai  wajar    aset                       the fair value of assets requires the estimation
            membutuhkan estimasi arus kas yang                                   of cash flows expected to be generated from
            diharapkan akan dihasilkan dari pemakaian                            the continued use and ultimate disposition of
            berkelanjutan dan pelepasan akhir atas aset                          such assets. Any significant changes in the
            tersebut. Perubahan signifikan dalam asumsi-                         assumptions used in determining the fair value
            asumsi yang digunakan untuk menentukan                               may materially affect the assessment of
            nilai wajar dapat berdampak signifikan pada                          recoverable values and any resulting
            nilai terpulihkan dan jumlah kerugian                                impairment loss could have a material impact
            penurunan nilai yang terjadi mungkin                                 on the Group’s result of operations.
            berdampak material pada hasil operasi Grup.

            Nilai tercatat aset non-keuangan properti                            The carrying value of these non-financial
            investasi, aset tetap dan agunan yang diambil                        assets in the form of investment properties,
            alih masing-masing diungkapkan pada Catatan                          property, plant and equipment, and foreclosed
            17, 18 dan 19.                                                       properties are disclosed in Notes 17, 18 and
                                                                                 19, respectively.


4.   Kas dan Bank                                                     4.   Cash and Cash in Banks

     Terdiri dari:                                                         These consist of:
                                                    2023                    2022

     Kas                                                                                  Cash on hand
       Rupiah                                         316.690                   316.887     Rupiah
       Mata uang asing (Catatan 50)                    73.132                    71.076     Foreign currencies (Note 50)

          Jumlah                                      389.822                   387.963 Total

     Bank                                                                               Bank
     Pihak ketiga                                                                       Third parties
       Rupiah                                                                             Rupiah
       PT Bank Jago Tbk                               100.460                         -   PT Bank Jago Tbk
       PT Bank Capital Indonesia Tbk                   91.824                   105.776   PT Bank Capital Indonesia Tbk
       PT Bank Negara Indonesia                                                           PT Bank Negara Indonesia
         (Persero) Tbk                                  84.511                   12.227      (Persero) Tbk




                                                             - 78 -
Page 401
PT SINAR MAS MULTIARTHA TBK                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                         For the Years Ended
31 Desember 2023 dan 2022                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                            unless otherwise stated)


                                              2023            2022

     PT Bank CIMB Niaga Tbk                     27.742           59.073     PT Bank CIMB Niaga Tbk
     PT Bank Mayapada                                                       PT Bank Mayapada
       International Tbk                        25.815               76       International Tbk
     PT Bank Central Asia Tbk                   24.511           46.491     PT Bank Central Asia Tbk
     PT Bank Mega Tbk                           10.435            8.541     PT Bank Mega Tbk
     PT Bank Mandiri (Persero) Tbk               7.351            2.093     PT Bank Mandiri (Persero) Tbk
     PT Bank ICBC Indonesia                      6.068                3     PT Bank ICBC Indonesia
     PT Bank Rakyat Indonesia                                               PT Bank Rakyat Indonesia
       (Persero) Tbk                             2.611           11.246       (Persero) Tbk
     PT Bank Neo Commerce Tbk                      552           10.235     PT Bank Neo Commerce Tbk
     Lain-lain (saldo masing-masing                                         Others (balance below
       dibawah Rp5.000)                        121.473          288.856       Rp5,000 each)

     Jumlah                                    503.353          544.617     Total

     Mata uang asing (Catatan 50)                                           Foreign currencies (Note 50)
     Bank of China, Australia                   68.759           62.146     Bank of China, Australia
     PT Bank Mega Tbk                           42.552           62.368     PT Bank Mega Tbk
     Bank of China, China                       42.410           36.257     Bank of China, China
     PT Bank Rakyat Indonesia                                               PT Bank Rakyat Indonesia
       (Persero) Tbk                            37.188           13.904       (Persero) Tbk
     PT Bank Maybank Indonesia Tbk              35.706           65.652     PT Bank Maybank Indonesia Tbk
     PT Bank CIMB Niaga Tbk                     14.172            7.390     PT Bank CIMB Niaga Tbk
     PT Bank Mandiri (Persero) Tbk               6.804            1.333     PT Bank Mandiri (Persero) Tbk
     PT Bank HSBC Indonesia                      5.454            1.636     PT Bank HSBC Indonesia
     Lain-lain (saldo masing-masing                                         Others (balance below
       dibawah Rp5.000)                       2.363.974        1.282.120      Rp5.000 each)

     Jumlah                                   2.617.019        1.532.806    Total

   Jumlah                                     3.120.372        2.077.423    Total

   Giro pada Bank Indonesia                                                 Indonesia
     Rupiah                                   5.602.465        3.930.989       Rupiah
     Mata uang asing (Catatan 50)               420.348          201.478       Foreign currencies (Note 50)

   Jumlah                                     6.022.813        4.132.467 Total

                                                                        Segregated funds net assets
   Aset pemegang polis Unit link,                                       - Unit link, wakallah, and
     wakallah dan Mudharabah                                               mudharabah
     Rupiah                                      2.087           26.928    Rupiah

   Jumlah                                     9.535.094        6.624.781 Total

   Cadangan kerugian penurunan nilai             (1.389)          (1.149) Allowance for impairment

   Jumlah                                     9.533.705        6.623.632 Total




                                                     - 79 -
Page 402
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


   Sesuai dengan ketentuan Bank Indonesia, BS,                      According to the regulation of Bank Indonesia, BS,
   entitas anak, diwajibkan memiliki saldo giro                     a subsidiary, is required to maintain a minimum
   minimum di Bank Indonesia untuk cadangan                         liquidity reserve of a certain percentage of third
   likuiditas sebesar persentase tertentu dari dana                 party funds both in Rupiah and foreign currencies.
   pihak ketiga baik dalam Rupiah maupun valuta
   asing.

   Tidak terdapat saldo kas dan bank yang tidak                     There are no cash and cash in banks that could not
   dapat digunakan maupun dijaminkan.                               be used or pledged.

   Rasio Giro Wajib Minimum (GWM) untuk mata                        Minimum liquidity reserves ratio for foreign and
   uang Rupiah dan mata uang asing pada tanggal                     Rupiah currencies as at December 31, 2023 and
   31 Desember 2023 dan 2022 adalah:                                2022 are as follows:

                                               2023                  2022

   GWM yang telah dibentuk                                                         Liquidity reserve
    Rupiah                                                                            Rupiah
      GWM Primer                                                                        Primary reserve
        Konvensional dan syariah                      7,84                10,01             Conventional and sharia
        Konvensional                                  7,93                 9,97             Conventional
        Syariah                                       7,39                10,25             Sharia
      GWM Sekunder/ Penyangga                                                           Secondary reserve/ Macroprudential
        Likuiditas Makroprudensial                                                          Liquidity Buffer Ratio (PLM)
        (PLM) Konvensional                          26,31                 27,71             Conventional
    Mata uang asing                                                                Foreign currency
      Konvensional dan syariah                        4,00                  3,95        Conventional and sharia
      Konvensional                                    4,10                  4,02        Conventional
      Syariah                                         1,11                  1,46        Sharia

   Mutasi cadangan kerugian penurunan nilai adalah                  The changes in allowance for impairment losses
   sebagai berikut:                                                 follows:

                                                             2023

                              Tahap 1/         Tahap 2/             Tahap 3/            Jumlah/
                              Stage 1          Stage 2              Stage 3              Total
                                                                                                       Balance at the
   Saldo awal tahun                  1.149                -                    -             1.149       beginning of the year
   Penambahan (pemulihan)                                                                              Addition (reversal)
     tahun berjalan                    240                -                    -               240       during the year
                                                                                                       Balance at the
   Saldo akhir tahun                 1.389                -                    -             1.389       end of the year


                                                      2022

                              Tahap 1/         Tahap 2/             Tahap 3/            Jumlah/
                              Stage 1          Stage 2              Stage 3              Total
                                                                                                       Balance at the
   Saldo awal tahun                  4.529                -                    -             4.529       beginning of the year
   Penambahan tahun
     berjalan                        (3.380)              -                    -             (3.380)   Addition during the year
                                                                                                       Balance at the
   Saldo akhir tahun                 1.149                -                    -             1.149       end of the year


   Manajemen berpendapat bahwa jumlah cadangan                      Management believes that the allowance for
   kerugian penurunan nilai untuk saldo bank pada                   impairment losses on cash in bank as at December
   tanggal 31 Desember 2023 dan 2022 adalah                         31, 2023 and 2022 is adequate to cover possible
   memadai untuk menutup kemungkinan kerugian                       losses arising from cash and cash in banks.
   saldo bank tersebut.



                                                       - 80 -
Page 403
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


5.   Investasi Jangka Pendek                                     5.   Short-term Investments
                                                2023                   2022

     Deposito berjangka                          3.406.268             3.259.823 Time deposits
     Penempatan pada Bank Indonesia                                              Placements with Bank Indonesia
       dan bank lain                             6.589.633             4.802.861   and other banks
                                                                                 Segregated funds net assets
     Aset pemegang polis unit link              20.177.065            25.791.774   - Unit link
     Efek-efek                                  32.922.043            32.999.263 Securities

     Jumlah                                     63.095.009            66.853.721 Total
     Cadangan kerugian penurunan nilai            (175.445)             (161.506) Allowance for impairment losses

     Jumlah - bersih                            62.919.564            66.692.215 Total - net


     Mutasi cadangan kerugian penurunan nilai                         The changes in allowance for impairment losses on
     investasi jangka pendek adalah sebagai berikut:                  short-term investment follows:
                                                2023                   2022

                                                                                   Balance at the beginning
     Saldo awal tahun                             161.506                  150.092   of the year
     Penambahan (pemulihan)                                                        Provision (reversal) during
       berjalan                                     13.939                  11.414   the year

                                                                                     Balance at the end
     Saldo akhir tahun                            175.445                  161.506     of the year


     Manajemen berpendapat bahwa jumlah cadangan                      Management believes that the allowance for
     kerugian penurunan nilai investasi jangka pendek                 impairment losses on short term investment as at
     pada tanggal 31 December 2023 dan 2022 adalah                    December 31, 2023 and 2022 is adequate to cover
     cukup untuk menutup kemungkinan kerugian yang                    possible losses which might arise from these short-
     akan timbul akibat tidak tertagihnya investasi                   term investments.
     jangka pendek.

     a.   Deposito berjangka                                          a.    Time deposits
                                                2023                   2022

          Pihak ketiga                                                           Third parties
            Bank                                                                   Banks
              Rupiah                             2.806.250             2.928.486   Rupiah
              Mata uang asing (Catatan 50)         543.878               259.139   Foreign currencies (Note 50)

            Jumlah                               3.350.128             3.187.625 Total

            PT Kliring Penjaminan Efek                                               PT Kliring Penjaminan
              Indonesia                             56.140                  72.198     Efek Indonesia

          Jumlah                                 3.406.268             3.259.823 Total


          Suku bunga per tahun deposito berjangka                     The interest rates per annum on time deposits are
          adalah sebagai berikut:                                     as follows:
                                                2023                   2022

          Rupiah                             0,00% - 6,75%        0,75% - 6,50% Rupiah
          Mata uang asing                    0,00% - 4,50%        0,00% - 3,20% Foreign currencies

          Investasi jangka pendek dalam bentuk                              Short-term Investments in the form of time
          deposito   berjangka   termasuk   deposito                        deposits include time deposits with maturities
          berjangka yang jatuh temponya lebih dari 3                        of more than 3 months and guarantee deposits
          bulan dan deposito wajib untuk memenuhi                           in compliance with the regulation of the
          ketentuan   Menteri   Keuangan    Republik                        Minister of Finance of the Republic of
          Indonesia.                                                        Indonesia.


                                                        - 81 -
Page 404
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


        Pada tanggal 31 Desember 2023 dan 2022,                      As at December 31, 2023 and 2022 certain
        terdapat deposito berjangka Perusahaan yang                  time deposits are pledged as collateral on
        dijadikan jaminan untuk kredit yang diterima                 loans (Note 31).
        (Catatan 31).

        Pada tanggal 31 Desember 2023 dan 2022,                      As at December 31, 2023 and 2022, no
        tidak dibentuk cadangan kerugian penurunan                   allowance for impairment losses was provided
        nilai karena manajemen berpendapat bahwa                     on time deposits as management believes that
        seluruh deposito berjangka dapat ditagih.                    all such time deposits are collectible.

   b.   Penempatan pada Bank Indonesia dan bank                 b.   Placements with Bank Indonesia and other
        lain                                                         banks

        Penempatan pada Bank Indonesia dan bank                      Placements with Bank Indonesia and other
        lain, merupakan penempatan oleh BS, entitas                  banks represent placements by BS, a
        anak dengan rincian sebagai berikut:                         subsidiary, with details as follows:

                                              2023               2022

        Rupiah                                                                Rupiah
          Bank Indonesia                       1.650.000         2.150.000      Bank Indonesia
          Bank lain                                    -           590.000      Other banks

        Jumlah                                 1.650.000         2.740.000 Total

        Mata uang asing (Catatan 50)                                          Foreign currencies (Note 50)
          Bank Indonesia                       4.793.373         1.915.083      Bank Indonesia
          Bank lain                              146.272           147.891      Other banks

        Jumlah                                 4.939.645         2.062.974 Total

        Jumlah                                 6.589.645         4.802.974 Total

        Cadangan kerugian penurunan nilai              (12)             (113) Allowance for impairment losses

        Jumlah -bersih                         6.589.633         4.802.861 Total - net


        Pada tanggal 31 Desember 2023 dan 2022,                      As at December 31, 2023 and 2022,
        penempatan pada bank lain dalam bentuk call                  placements with other banks in the form of call
        money SIMA, penempatan pada Bank                             money SIMA, placement with Bank Indonesia
        Indonesia dalam bentuk deposit facility dan                  in the form of deposits facility and term deposit
        term deposit dikategorikan sebagai biaya                     are classified as at amortized cost.
        perolehan diamortisasi.

        Pada tanggal 31 Desember 2023 dan 2022,                      As at December 31, 2023 and 2022, there are
        saldo penempatan pada bank lain dan Bank                     placements with other banks and Bank
        Indonesia:                                                   Indonesia pledged:
        1. Dikategorikan sebagai lancar.                             1. Classified as current.
        2. Tidak ada yang dijaminkan.                                2. None as collateral.
        3. Tidak ada yang diblokir.                                  3. None is blocked.
        4. Tidak memiliki dana yang tidak dapat                      4. None have un-disbursed funds in the
            dicairkan pada bank bermasalah, bank                         troubled bank, frozen bank operations or
            beku operasi atau likuidasi.                                 liquidation.

        Perubahan cadangan kerugian penurunan nilai                  The changes in allowance for impairment
        penempatan pada bank lain adalah sebagai                     losses on palacement with other bank as
        berikut:                                                     follows:




                                                       - 82 -
Page 405
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                        unless otherwise stated)


                                                                   2023

                                     Tahap 1/        Tahap 2/             Tahap 3/           Jumlah/
                                     Stage 1         Stage 2              Stage 3             Total

                                                                                                               Balance at the beginning
        Saldo awal tahun                    113                   -                  -                 113       of the year
        Pemulihan tahun
           berjalan                         (101)                 -                  -              (101)      Reversal during the year

                                                                                                                 Balance at the end
        Saldo akhir tahun                       12                -                  -                 12        of the year



                                                            2022

                                     Tahap 1/        Tahap 2/             Tahap 3/           Jumlah/
                                     Stage 1         Stage 2              Stage 3             Total

                                                                                                               Balance at the beginning
        Saldo awal tahun                         -                -                  -                   -       of the year
        Penambahan tahun
           berjalan                         113                   -                  -                 113     Provision during the year

                                                                                                                 Balance at the end
        Saldo akhir tahun                   113                   -                  -                 113       of the year




        Pada tanggal 31 Desember 2023 dan 2022                                 As at December 31, 2023 and 2022, the
        Grup tidak memiliki dana yang tidak dapat                              Group did not have undisbursed funds in the
        dicairkan pada bank bermasalah, bank beku                              troubled bank, frozen bank operations or
        operasi atau likuidasi.                                                under liquidation.

        Manajemen berpendapat bahwa jumlah                                     Management believes that the allowance for
        cadangan kerugian penurunan nilai untuk                                impairment losses as at December 31, 2023
        saldo bank pada tanggal 31 Desember 2023                               and 2022 is adequate to cover possible losses
        dan 2022 adalah memadai untuk menutup                                  arising from cash and cash in banks.
        kemungkinan kerugian saldo bank tersebut.

   c.   Aset pemegang polis unit link                                     c.   Segregated Funds Net Assets - Unit Link

                                                     2023                  2022

        Unit reksa dana                                                              Units of mutual fund
          Pihak berelasi (Catatan 49)                                                  Related parties (Note 49)
              Rupiah                                 19.271.555           23.448.082      Rupiah
              Mata uang asing (Catatan 50)                   13              291.286      Foreign currency (Note 50)

             Jumlah - pihak berelasi                 19.271.568           23.739.368     Total - related parties

          Pihak ketiga                                                                   Third parties
            Rupiah                                     881.647              2.052.406      Rupiah
            Mata uang asing (Catatan 50)                23.850                      -      Foreign currency (Note 50)

             Jumlah - pihak ketiga                     905.497              2.052.406    Total third parties

        Jumlah                                       20.177.065           25.791.774 Total


   Pada tanggal 31 Desember 2023 dan 2022, aset                           As at December 31, 2023 and 2022, segregated
   pemegang polis unit link dikategorikan sebagai                         funds net assets - unit link are classified as
   aset keuangan dalam kelompok diukur pada nilai                         financial assets at fair value through profit and loss.
   wajar melalui laba rugi.




                                                                - 83 -
Page 406
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


   d.     Efek-efek                                                d.    Securities
                                                   2023             2022

   Pihak Berelasi (Catatan 49)                                                    Related parties (Note 49)
     Rupiah                                                                         Rupiah
       Diukur pada nilai wajar melalui                                                 At fair value through profit or loss
          laba rugi
          Unit reksa dana                           1.065.152       1.805.332          Units of mutual fund
          Obligasi korporasi                          685.172       1.167.636          Corporate bonds
          Saham                                       702.246         489.237          Shares

          Jumlah diukur pada nilai wajar                                            Total at fair value through
            melalui laba rugi                       2.452.570       3.462.205         profit or loss

          Diukur pada nilai wajar melalui                                           At fair value through other
            penghasilan komprehensif lain                                              comprehensive income
            Saham                                   1.793.946       1.793.136          Shares

          Diukur pada biaya perolehan
            diamortisasi                                                            At amortized cost
            Tagihan atas wesel ekspor                   1.527                 -        Export bills

        Jumlah Rupiah                               4.248.043       5.255.341       Total Rupiah

        Mata uang asing (Catatan 50)                                                Foreign currency (Note 50)
          Diukur pada nilai wajar melalui
            laba rugi                                                               At fair value through profit or loss
            Obligasi korporasi                       431.437             91.240        Corporate bonds
            Reksadana                                146.395            158.495        Units of mutual fund

          Jumlah diukur pada nilai wajar                                            Total at fair value through
            melalui laba rugi                        577.832            249.735       profit or loss


          Diukur pada biaya perolehan
            diamortisasi                                                            At amortized cost
            Tagihan atas wesel ekspor                       -            12.866        Export bills

        Jumlah Mata Uang Asing                       577.832            262.601     Total foreign currencies

   Jumlah Pihak Berelasi                            4.825.875       5.517.942       Total related parties

   Pihak Ketiga                                                                   Third parties
     Rupiah                                                                         Rupiah
       Diukur pada nilai wajar melalui                                              At fair value through
          laba rugi                                                                    profit or loss
          Unit reksa dana                           7.079.638       4.382.387          Unit of mutual fund
          Obligasi Pemerintah                       1.673.999       1.505.950          Government bonds
          Saham                                       756.731         699.271          Shares
          Obligasi korporasi                          614.061       3.483.194          Corporate bonds

          Jumlah diukur pada nilai wajar                                          Total at fair value through
            melalui laba rugi                      10.124.429      10.070.802       profit or loss

        Diukur pada nilai wajar melalui                                       At fair value through other
            penghasilan komprehensif lain                                        comprehensive income
            Obligasi Pemerintah                     8.676.483       6.602.694    Government bonds
            Obligasi korporasi                      5.276.983       5.823.214    Corporate bonds
            Saham                                     364.275         761.310    Shares

          Jumlah Diukur pada nilai wajar melalui                                    Total at fair value through
            penghasilan komprehensif lain          14.317.741      13.187.218       other comprehensive income




                                                          - 84 -
Page 407
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


                                                2023             2022

       Diukur pada biaya perolehan
         diamortisasi                                                         At amortized cost
         Obligasi pemerintah                     2.267.453        2.270.192      Government bonds
         Obligasi korporasi                        106.620          469.399      Corporate bonds
         Refinancing                                11.000          316.000      Refinancing

       Jumlah diukur pada biaya perolehan
         diamortisasi                            2.385.073        3.055.591 Total at amortized cost

     Jumlah Rupiah                              26.827.243       26.313.611 Total Rupiah

     Mata Uang Asing (Catatan 50)                                             Foreign currency (Note 50)
       Diukur pada nilai wajar melalui
         laba rugi                                                              At fair value through profit or loss
         Obligasi korporasi                       334.871           635.093        Corporate bonds
         Unit reksa dana                          365.734                 -        Unit of mutual fund

       Jumlah diukur pada nilai wajar                                         Total at fair value through
         melalui laba rugi                        700.605           635.093     profit or loss

       Diukur pada nilai wajar melalui                                      At fair value through other
         penghasilan komprehensif lain                                         comprehensive income
         Obligasi Pemerintah                      110.111            99.905    Government bonds
         Obligasi korporasi                       307.959           256.062    Corporate bonds

       Jumlah Diukur pada nilai wajar melalui                                 Total at fair value through
         penghasilan komprehensif lain            418.070           355.967     other comprehensive income

       Diukur pada biaya perolehan
         diamortisasi                                                         At amortized cost
         Obligasi Pemerintah                        74.413           64.869      Government bonds
         Obligasi korporasi                         38.217           98.544      Corporate bonds
         Tagihan atas wesel ekspor                  37.620           13.237      Export wesel

       Jumlah diukur pada biaya perolehan
         diamortisasi                             150.250           176.650 Total at amortized cost

     Jumlah Mata Uang Asing                      1.268.925        1.167.710 Total foreign currency

   Jumlah Pihak Ketiga                          28.096.168       27.481.321 Total third parties

   Jumlah                                       32.922.043       32.999.263 Total
   Cadangan kerugian penurunan nilai              (175.433)        (161.393) Allowance for impairment

   Jumlah - bersih                              32.746.610       32.837.870 Total net



   Keuntungan (kerugian) yang belum direalisasi atas             Unrealized gain (loss) on increase (decrease) at
   kenaikan (penurunan) efek-efek yang diukur pada               fair value through other comprehensive income of
   nilai wajar melalui penghasilan komprehensif lain             securities as at December 31, 2023 and 2022, is
   pada tanggal 31 Desember 2023 dan 2022, dicatat               presented as a part of other equity component on
   sebagai bagian dari komponen ekuitas lainnya                  consolidated financial statements (Note 36).
   dalam laporan posisi keuangan konsolidasian
   (Catatan 36).

   Obligasi                                                      Bonds
   Berikut ini adalah rincian peringkat efek obligasi            The corporate bonds’ rating from PT Pemeringkat
   korporasi dari PT Pemeringkat Efek Indonesia                  Efek Indonesia (PT Pefindo), FitchRating, and
   (PT Pefindo), FitchRating dan Standard & Poor’s               Standard & Poor’s as reported by Indonesia Stock
   seperti yang dilaporkan oleh Bursa Efek Indonesia             Exchange and the maturity date of the bonds with
   dan tanggal jatuh tempo obligasi dengan nilai                 nominal value of over Rp15,000 each, as at
   nominal masing-masing di atas Rp15.000 pada                   December 31, 2023 and 2022, follows:
   tanggal 31 Desember 2023 dan 2022:




                                                        - 85 -
Page 408
PT SINAR MAS MULTIARTHA TBK                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                 unless otherwise stated)


                                               Tanggal
                                            Jatuh Tempo/          Peringkat/Rating
                                               Maturity
                                                Date            2023                        2022

   Sukuk Mudharabah                                                                                        Sukuk Mudharabah
      Berkelanjutan I                                                                                         Continuing I
         Indah Kiat Pulp and                                                                                  Indah Kiat Pulp and
      Paper Tahap II                                                                                          Paper Phase II
         Tahun 2021                               08-Des-24            idA+(sy)               idA+(sy)           Year 2021
   Obligasi Berkelanjutan II                                                                               Bonds Continuing II
      Wijaya Karya Tahap I                                                                                    Wijaya Karya Phase I
      Tahun 2021 - Seri C                         08-Sep-28             idCCC                         idA     Year 2021 - Series C
   Obligasi Berkelanjutan II                                                                               Bonds Continuing II
      Hutama Karya Tahap I                                                                                 Hutama Karya Phase I
      Tahun 2021 - Seri C                         08-Sep-28               idAA-                       idA     Year 2021 - Series C
   Obligasi sukuk mudharabah                                                                               Bonds sukuk mudharabah
      Lontar papyrus I Thn 2018                                                                               Lontar papyrus I Thn 2018
      Seri B                                       10-Okt-23            idA(sy)                 idA(sy)       Series B
   MTN III Nusantara Indah                                                                                 MTN III Nusantara Indah
      Cemerlang                                                                                            Cemerlang
      Tahun 2020                                   28-Apr-24                idA                       idA     Year 2020
   Obligasi Berkelanjutan III PLN                                                                             Bonds Continuing III PLN
      Tahap III Tahun 2019 Seri B                 19-Feb-24              idAAA                    idAAA       Phase III Year 2019 Series B
   Sukuk Ijarah Berkelanjutan III PLN                                                                      Sukuk Ijarah Continuing III PLN
      Tahap IV Tahun 2019 Seri E                  01-Agu-39                    -            idAAA(sy)         Phase IV Year 2019 Series E
   Sukuk Ijarah Berkelanjutan III PLN                                                                      Sukuk Ijarah Continuing III PLN
      Tahap III Th 2019 Sr B                      19-Feb-24                    -            idAAA(sy)         Phase III Th 2019 Sr B
   Sukuk Ijarah Berkelanjutan III Pln                                                                      Sukuk Ijarah Continuing III Pln
      Tahap V Tahun 2019 Seri E                    01-Okt-39                   -            idAAA(sy)         Phase V Year 2019 Series E
   Obligasi Berkelanjutan I Wijaya Karya                                                                   Bonds Continuing I Wijaya Karya
      Tahap I Tahun 2020 Seri B                   18-Des-25                    -                      idA     Phase I Year 2020 Series B
   Sukuk Mudharabah Berkelanjutan I                                                                        Sukuk Mudharabah Continuing I
      Wijaya Karya Tahap I Tahun                                                                              Wijaya Karya Phase I
      2020 Seri B                                 18-Des-25                    -                idA(sy)       Year 2020 Series B
   Sukuk Mudharabah Berkelanjutan I                                                                        Sukuk Mudharabah Continuing I
      Wijaya Karya Tahap I Tahun 2020                                                                      Wijaya Karya Phase I
      Seri C                                      18-Des-27                    -                idA(sy)       Year 2020 Series C
   Obligasi Berkelanjutan I TELKOM                                                                         Bonds Continuing I TELKOM
      Tahap I Tahun 2015 Seri D                   23-Jun-45                    -                  idAAA       Phase I Year 2015 Series D
   MTN Perumnas III Thn 2018                      10-Okt-23                    -                idBBB- MTN Perumnas III Yeas 2018
   Obligasi Berkelanjutan III PLN                                                                          Bonds Continuing III PLN
      Tahap IV Tahun 2019 seri E                  01-Agu-39              idAAA                    idAAA       Phase IV Year 2019 Series E
   Obligasi Berkelanjutan III PLN                                                                          Bonds Continuing III PLN
      Tahap V Tahun 2019 Seri E                    01-Okt-39             idAAA                    idAAA       Phase V Year 2019 Series E
   Obligasi Berkelanjutan III PLN                                                                          Bonds Continuing III PLN
      Tahap VI Tahun 2020 Seri E                  18-Feb-40              idAAA                    idAAA       Phase VI Year 2020 Series E
   Obligasi Berkelanjutan I                                                                                Bonds Continuing I
      Barito Pacific Tahap I                                                                                  Barito Pacific Phase I
      Tahun 2019Seri B                            19-Des-24                    -                    idA+      Year 2019 Series B
   Obligasi Berkelanjutan III Waskita                                                                      Bonds Continuing III
      Karya                                                                                                   Waskita Karya
      Tahap IV Tahun 2019 Seri B                  16-Mei-24                 idD                   idBBB       Phase IV Year 2019 Series B
   Sukuk Ijarah Berkelanjutan II Indosat                                                                   Sukuk Ijarah Continuing II Indosat
      Tahap I Tahun 2017 Seri D                   31-Mar-27                    -            idAAA(sy)         Phase I Year 2017 Series D
   Obligasi Sumberdaya Sewatama I                                                                          Bonds Sumberdaya Sewatama I
      Tahun seri B                                31-Des-34                    -                 idCCC        Year Series B
   Obligasi Berkelanjutan III PLN                                                                          Bonds Continuing III PLN
      Tahap IV Tahun 2019 Seri E                  01-Agu-39               idAAA                   idAAA       Phase IV Year 2019 Series E
   MTN Posindo 03 Tahap I Tahun 2021              30-Dec-24             idBBB+                 idBBB+ MTN Posindo 03 Tahap I Tahun 2021
   MTN I Asian Bulk Logistic Tahun 2022           21-Jun-27                 idA+                    idA+ MTN I Asian Bulk Logistic Tahun 2022
   MTN Capital Strategic Invesco II                                                                        MTN Capital Strategic Invesco II
      Tahun 2022                                  08-Jun-27                  A-                        A-     Tahun 2022
   MTN PT Wahana Interfood                                                                                MTN PT Wahana Interfood
      Nusantara Tbk I                                                                                         Nusantara Tbk I
      Tahun 2023 Tahap II                          18-Apr-28             BBB+                           -     Tahun 2023 Tahap II
   MTN PT Dwi Guna Laksana Tbk                                                                             MTN PT Dwi Guna Laksana Tbk
      Tahun 2022                                   13-Jul-27                idA                       idA     Tahun 2022
   MTN I Nusantara Indah Cemerlang                                                                         MTN I Nusantara Indah Cemerlang
      Tahun 2020                                  06-Feb-24                 AA                        AA      Tahun 2020
   MTN III Nusantara Indah Cemerlang                                                                       MTN III Nusantara Indah Cemerlang
      Tahun 2020                                  28-Apr-24                A                            A     Tahun 2020
   MTN XVI PP Properti Tahun 2022                 26-Agu-25      idBBB-(IDN)                BBB-(IDN) MTN XVI PP Properti Tahun 2022
   MTN I Sari Murni Abadi Tahun 2022                                                                       MTN I Sari Murni Abadi Tahun 2022
      Tahap I                                     14-Des-27             idBBB+                 idBBB+         Tahap I
   Obligasi Berkelanjutan III Adhi Karya                                                                   Subordinated Bonds continuing III Adhi Karya
      Tahap III Tahun 2022 Seri C                 24-Mei-29                idA-                      idA-     Phase III Tahun 2022 Seri C
   Obligasi Subordinasi Berkelanjutan III                                                                  Subordinated Bonds continuing III
      Bank KB Bukopin Tahap 1 Tahun                                                                           Bank KB Bukopin Tahap 1 Tahun
      2021 Seri B                                 09-Sep-28               idAA                      idAA      2021 Seri B




                                                               - 86 -
Page 409
PT SINAR MAS MULTIARTHA TBK                                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                         For the Years Ended
31 Desember 2023 dan 2022                                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                            unless otherwise stated)


                                              Tanggal
                                           Jatuh Tempo/         Peringkat/Rating
                                              Maturity
                                               Date           2023                     2022

   Obligasi Berkelanjutan III                                                                        Bonds Continuing III
     Barito Pasific Tahap II                                                                           Barito Pasific Tahap II
     Tahun 2023 Seri A                          28-Nov-26              idA+                      -     Tahun 2023 Seri a
   Obligasi Berkelanjutan III                                                                        Bonds Continuing III
     Barito Pasific Tahap I                                                                            Barito Pasific Tahap I
     Tahun 2023 Seri A                          08-Nov-28              idA+                      -     Tahun 2023 Seri A
   Obligasi I Hino Finance Indonesia                                                                 Obligasi I Hino Finance Indonesia
     Tahun 2022 Seri B                          09-Agu-25       AAA(IDN)              AAA(IDN)         Tahun 2022 Seri B
   Obligasi Berkelanjutan IV Indah Kiat                                                              Obligasi Berkelanjutan IV Indah Kiat
     Pulp & Paper Tahap III Tahun                                                                      Pulp & Paper Tahap III Tahun
     2023 Seri B                                21-Nov-26              idA+                      -     2023 Seri B
   Obligasi Berkelanjutan IV Indah Kiat                                                              Bonds Continuing IV Indah Kiat
     Pulp & Paper Tahap III Tahun                                                                      Pulp & Paper Tahap III Tahun
     2023 Seri C                                21-Nov-28              idA+                      -     2023 Seri C
   Obligasi Berkelanjutan II Merdeka                                                                 Bonds Continuing II Merdeka
     Copper Gold Tahap I                                                                               Copper Gold Tahap I
     Tahun 2021 Seri B                          26-Mar-24              idA+                idA+        Tahun 2021 Seri B
   Obligasi Berkelanjutan II Merdeka                                                                 Bonds Continuing II Merdeka
     Copper Gold Tahap II                                                                              Copper Gold Tahap II
     Tahun 2021 Seri B                          22-Apr-27              idA+                idA+        Tahun 2021 Seri B
   Obligasi Berkelanjutan II Merdeka                                                                 Bonds Continuing II Merdeka
     Copper Gold Tahap III                                                                             Copper Gold Tahap III
     Tahun 2022 Seri C                          01-Sep-27              idA+                idA+        Tahun 2022 Seri C
   Obligasi Berkelanjutan II Merdeka                                                                 Bonds Continuing II Merdeka
     Copper Gold Tahap I                                                                               Copper Gold Tahap I
     Tahun 2022                                 13-Des-25              idA+                idA+        Tahun 2022
   Obligasi Oki Pulp & Paper Mills II                                                                Obligasi Oki Pulp & Paper Mills II
     Tahun 2022 Seri B                          30-Mar-25              idA+                idA+        Tahun 2022 Seri B
   Obligasi Oki Pulp & Paper Mills II                                                                Obligasi Oki Pulp & Paper Mills II
     Tahun 2022 Seri C                          30-Mar-27              idA+                idA+        Tahun 2022 Seri C
   Obligasi II Pindo Deli Pulp & Paper                                                               Obligasi II Pindo Deli Pulp & Paper
     Mills Tahun 2022 Seri B                     14-Jul-25              idA                   idA      Mills Tahun 2022 Seri B
   Obligasi Berkelanjutan III Pln                                                                    Bonds Continuing III PLN
     Tahap VI Tahun 2020 Seri C                 18-Feb-30             idAAA              idAAA         Tahap VI Tahun 2020 Seri C
   Obligasi Berkelanjutan I Hutama                                                                   Bonds Continuing I Hutama
     Karya Tahap II Tahun 2017                  06-Jun-27      idAAA(gg)              idAAA(gg)        Karya Tahap II Tahun 2017
   Obligasi Berkelanjutan II Hutama                                                                  Bonds Continuing II Hutama
     Karya Tahap I Tahun 2017                   07-Sep-28             idAA-               idAA-        Karya Tahap I Tahun 2017
   Obligasi Berkelanjutan III PTPP                                                                   Bonds Continuing III PTPP
     Tahap I Tahun 2021 Seri B                   02-Jul-26              idA                   idA      Tahap I Tahun 2021 Seri B
   Sukuk Mudharabah I Armadian                                                                       Sukuk Mudharabah I Armadian
     Tritunggal Tahun 2023                      24-Nov-25                A-                      -     Tritunggal Tahun 2023
   Obligasi Berkelanjutan II                                                                         Bonds Continuing II
     SMMA Tahap IV Tahun 2023                   07-Mar-33              idAA                      -     SMMA Tahap IV Tahun 2023
   Obligasi Berkelanjutan III Chandra                                                                Bonds Continuing III Chandra
     Asri Petrochemical Tahap V                                                                        Asri Petrochemical Tahap V
     Tahun 2022 Seri C                          08-Mar-32             idAA-               idAA-        Tahun 2022 Seri C
   Obligasi Berkelanjutan IV Chandra                                                                 Bonds Continuing IV Chandra
     Asri Petrochemical Tahap II                                                                       Asri Petrochemical Tahap II
     Tahun 2023 Seri A                          28-Feb-28             idAA-                      -     Tahun 2023 Seri A
   Obligasi Berkelanjutan II Wijaya                                                                  Bonds Continuing II Wijaya
     Karya Tahap I Tahun 2021 Seri C            08-Sep-28             idCCC              idCCC         Karya Tahap I Tahun 2021 Seri C
   Obligasi II Wahana Inti Selaras                                                                   Obligasi II Wahana Inti Selaras
     Tahun 2023 Seri C                          08-Agu-28               idA                      -     Tahun 2023 Seri C
   Obligasi Berkelanjutan IV Wom                                                                     Bonds Continuing IV Wom
     Finance Tahap Ii Tahun 2022                                                                       Finance Tahap Ii Tahun 2022
     Seri B                                     08-Apr-25         AA(idn)               AA(idn)        Seri B
   MTN Wahana Interfood Nusantara I                                                                  MTN Wahana Interfood Nusantara I
     Tahun 2022 Tahap I                          06-Jul-25            idAA+              idAA+         Tahun 2022 Tahap I
   Obligasi Berkelanjutan III Adhi Karya                                                             Bonds Continuing III Adhi Karya
     Tahap III Tahun 2022 Seri C                24-Mei-29              idA-                   idA-     Tahap III Tahun 2022 Seri C
   Obligasi Berkelanjutan III Merdeka                                                                Bonds Continuing III Merdeka
     Copper Gold Tahap III                                                                             Copper Gold Tahap III
     Tahun 2022 Seri B                          01-Sep-25              idA+                idA+        Tahun 2022 Seri B
   Obligasi Berkelanjutan IV Merdeka                                                                 Bonds Continuing IV Merdeka
     Copper Gold Tahap I                                                                               Copper Gold Tahap I
     Tahun 2022                                 13-Des-25              idA+                idA+        Tahun 2022
   Obligasi Berkelanjutan IV                                                                         Bonds Continuing IV
     Summarecon Agung Tahap II                                                                         Summarecon Agung Tahap II
     Tahun 2023 Seri B                          19-Okt-28              idA+                idA+        Tahun 2023 Seri B




                                                             - 87 -
Page 410
PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                          unless otherwise stated)


                                            Tanggal
                                         Jatuh Tempo/         Peringkat/Rating
                                            Maturity
                                             Date           2023                      2022

   Obligasi Berkelanjutan III Chandra                                                               Bonds Continuing III Chandra
     Asri Petrochemical Tahap II                                                                      Asri Petrochemical Tahap II
     Tahun 2022 Seri B                        08-Mar-29             idAA-                idAA-        Tahun 2022 Seri B
   Obligasi Berkelanjutan IV Chandra                                                                Bonds Continuing IV Chandra
     Asri Petrochemical Tahap II                                                                      Asri Petrochemical Tahap II
     Tahun 2023 Seri A                        28-Feb-28             idAA-                idAA-        Tahun 2023 Seri A
   Obligasi Berkelanjutan III                                                                       Bonds Continuing III
     Waskita Karya Tahap IV                                                                           Waskita Karya Tahap IV
     Tahun 2019 Seri B                        16-Mei-24               idD                       -     Tahun 2019 Seri B
   Obligasi II Hino Finance Indonesia                                                               Obligasi II Hino Finance Indonesia
     Tahun 2023 Seri B                         11-Jul-26       AAA(idn)                         -     Tahun 2023 Seri B
   Obl Berkelanjutan II Lontar Papyrus                                                              Bonds Continuing II Lontar Papyrus
     Pulp & Paper Industry Tahap II                                                                   Pulp & Paper Industry Tahap II
     Tahun 2023 Seri B                        06-Okt-26               idA                       -     Tahun 2023 Seri B
   Obligasi Berkelanjutan Oki Pulp                                                                  Bonds Continuing Oki Pulp
     & Paper Mills II Tahun 2023                                                                      & Paper Mills II Tahun 2023
     Seri B                                   12-Okt-26              idA+                       -     Seri B
   Obligasi Berkelanjutan I                                                                         Bonds Continuing I
     Oto Multiartha Tahap I                                                                           Oto Multiartha Tahap I
     Tahun 2023 Seri A                         07-Jul-26            idAA+                       -     Tahun 2023 Seri A
   Obligasi Berkelanjutan IV PNM                                                                    Bonds Continuing IV PNM
     Tahap I Tahun 2021 Seri B                10-Des-24             idAA+                idAA+        Tahap I Tahun 2021 Seri B
   Obligasi Berkelanjutan II Sinar Mas                                                              Bonds Continuing II Sinar Mas
     Multifinance Tahap I Tahun 2020                                                                  Multifinance Tahap I Tahun 2020
     Seri B                                    17-Jul-25             irA+                    irA+     Seri B
   Obligasi Berkelanjutan IV Toyota                                                                 Bonds Continuing IV Toyota
     Astra Financial Services Tahap I                                                                 Astra Financial Services Tahap I
     Tahun 2023 Seri C                         11-Jul-28      AAA(IDN)                          -     Tahun 2023 Seri C
   Obligasi Berkelnajutan V Tower                                                                   Bonds Continuing V Tower
     Bersama Infrastructure Tahap III                                                                 Bersama Infrastructure Tahap III
     Tahun 2022 Seri B                        02-Mar-25       AA+(IDN)                AA+(IDN)        Tahun 2022 Seri B
   Obligasi Berkelanjutan I Tiphone                                                                 Bonds Continuing I Tiphone
     Tahap III Tahun 2017 Seri B              31-Des-30               idD                    idD      Tahap III Tahun 2017 Seri B
   Obligasi Berkelanjutan I Tiphone                                                                 Bonds Continuing I Tiphone
     Tahap III Tahun 2016 Seri C              31-Des-30               idD                    idD      Tahap III Tahun 2016 Seri C
   Obligasi Berkelanjutan IV Chandra                                                                Bonds Continuing IV Chandra
     Asri Petrochemical Tahap I                                                                       Asri Petrochemical Tahap I
     Tahun 2022 Seri A                        09-Agu-27             idAA-                idAA-        Tahun 2022 Seri A
   Obligasi Berkelanjutan VI Mandiri                                                                Bonds Continuing VI Mandiri
     Tunas Finance Tahap I                                                                            Tunas Finance Tahap I
     Tahun 2023 Seri B                         11-Jul-28            idAAA                       -     Tahun 2023 Seri B
   Obligasi Berkelanjutan I Pyridam                                                                 Bonds Continuing I Pyridam
     Farma Tahap II Tahun 2023                20-Sep-25             BBB+                        -     Farma Tahap II Tahun 2023
   Sukuk Ijarah Berkelanjutan II                                                                    Sukuk Ijarah Berkelanjutan II
     Aneka Gas Industri Tahap                                                                         Aneka Gas Industri Tahap
     Tahap III Tahun 2021 Seri C               06-Jul-28           A(IDN)                       -     Tahap III Tahun 2021 Seri C
   Sukuk Ijarah Berkelanjutan I                                                                     Sukuk Ijarah Berkelanjutan I
     Sampoerna Agro Tahap II                                                                          Sampoerna Agro Tahap II
     Tahun 2021 Seri B                        17-Mar-26               idA                    idA-     Tahun 2021 Seri B
   Sukuk Mudharabah Berkelanjutan I                                                                 Sukuk Mudharabah Berkelanjutan I
     Indah Kiat Pulp and Paper                                                                        Indah Kiat Pulp and Paper
     Tahap II Tahun 2021 Seri C               08-Des-26       idA+(sya)                         -     Tahap II Tahun 2021 Seri C


   Suku bunga per tahun obligasi pada tanggal 31                            As at December 31, 2023 and 2022, the average
   Desember 2023 dan 2022, masing-masing berkisar                           interest rates on bonds denominated in Rupiah
   antara 2,00% - 11,58% dan 5,38% - 11,85% dalam                           range from 2.00% - 11.58% and 5.38% - 11.85%
   mata uang Rupiah serta dalam mata uang asing                             per annum, respectively, while the average interest
   masing-masing berkisar antara 4,55% - 8,50% dan                          rates on bonds denominated in foreign currency
   5,38% - 8,50%.                                                           range from 4.55% - 8.50% and 5.38% - 8.50%,
                                                                            respectively.

   Unit reksa dana                                                          Units of Mutual Fund

   Efek    diperdagangkan dalam bentuk    unit                              Securities in units of mutual fund of a related party
   penyertaan reksa dana pada pihak berelasi,                               which are held for trading are managed by SAM, a
   dikelola oleh SAM sebagai manajer investasi                              related party, as the investment manager
   (Catatan 49).                                                            (Note 49).




                                                           - 88 -
Page 411
PT SINAR MAS MULTIARTHA TBK                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                 unless otherwise stated)


6.   Piutang Pembiayaan Multiguna                                             6.   Multipurpose Financing Receivables

     a.   Terdiri dari:                                                             a. This account consists of:

                                                          2023                      2022

          Pihak berelasi - Rupiah (Catatan 49)                                                    Related parties - Rupiah (Note 49)
            Piutang pembiayaan multiguna                                                            Multipurpose financing receivables
              - kotor                                            756                          802      - gross

          Pihak ketiga - Rupiah                                                                 Third parties - Rupiah
            Piutang pembiayaan multiguna                                                          Multipurpose financing receivables
              - kotor                                      5.180.125                 5.851.300       - gross
            Bagian yang dibiayai pihak lain               (2.995.267)               (3.181.779)   Amount financed by other parties

          Jumlah                                          2.184.858                  2.669.521 Total

          Jumlah piutang pembiayaan                                                                Multipurpose financing receivables
            multiguna - bersih                            2.185.614                  2.670.323       - net
          Pendapatan pembiayaan multiguna                                                       Unearned multipurpose financing
            yang belum diakui - kotor                      (921.435)                (1.111.282)   income - gross
          Bagian yang dibiayai pihak lain                   247.223                    305.594 Amount financed by other parties

          Jumlah pendapatan pembiayaan
            multiguna yang belum                                                                   Total unearned multipurpose
            diakui - bersih                                (674.212)                  (805.688)      financing income - net

          Jumlah                                          1.511.402                  1.864.635 Total
          Cadangan kerugian penurunan nilai                 (75.376)                   (81.335) Allowance for impairment losses

          Jumlah - bersih                                 1.436.026                  1.783.300 Total - Net

          Suku bunga per tahun                                                                     Interest rate per annum
            Rupiah                                   12,5% -35,24%%           17,59% - 35,24%         Rupiah



     b.   Analisis atas perubahan dalam nilai tercatat                              b.     An analysis of change in the gross carrying
          bruto dan cadangan atas kerugian kredit                                          amount and the corresponding expected
          ekspektasian terkait piutang pembiayaan                                          credit loss allowances of multipurpose
          multiguna:                                                                       financing receivables are as follows:
                                                                        2023

                                      Tahap 1/            Tahap 2/                 Tahap 3/               Total/
                                      Stage 1             Stage 2                  Stage 3                Total

                                                                                                                        Beginning gross carrying
          Nilai tercatat bruto awal     1.722.447              60.253                   81.935             1.864.635       amount
          Transfer ke tahap 1              (3.820)              3.659                      161                     -    Transfer to stage 1
          Transfer ke tahap 2              98.098             (98.458)                     360                     -    Transfer to stage 2
          Transfer ke tahap 3              60.003              11.945                  (71.949)                   (1)   Transfer to stage 3
          Aset Baru                     2.418.603             185.602                   63.888             2.668.093    New assets originated
          Perubahan neto               (3.017.898)                  -                  442.617            (2.575.281)   Net change
          Penghapusbukuan                       -                   -                 (446.044)             (446.044)   Write-off

          Nilai tercatat bruto                                                                                          Ending gross carrying
             akhir                      1.277.433             163.001                    70.968            1.511.402      amount




                                                                     - 89 -
Page 412
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


                                                                 2022

                                    Tahap 1/       Tahap 2/             Tahap 3/                Total/
                                    Stage 1        Stage 2              Stage 3                 Total

                                                                                                              Beginning gross carrying
        Nilai tercatat bruto awal     2.041.348         37.821                 28.484            2.107.653       amount
        Transfer ke tahap 1               3.413         (3.270)                  (143)                   -    Transfer to stage 1
        Transfer ke tahap 2             (81.998)        82.298                   (300)                   -    Transfer to stage 2
        Transfer ke tahap 3             (70.387)       (16.991)                87.378                    -    Transfer to stage 3
        Aset Baru                     3.574.520        112.822                 32.047            3.719.389    New assets originated
        Perubahan neto               (3.744.449)      (152.427)                (5.054)         (3.901.930)    Net change
        Penghapusbukuan                       -              -                (60.477)             (60.477)   Write-off

        Nilai tercatat bruto                                                                                  Ending gross carrying
           akhir                      1.722.447         60.253                81.935             1.864.635      amount



                                                                 2023

                                    Tahap 1/       Tahap 2/             Tahap 3/                Total/
                                    Stage 1        Stage 2              Stage 3                 Total

                                                                                                              Balance at the beginning
        Saldo awal tahun                 42.827         14.123                 24.385               81.335       of the year
        Transfer ke tahap 1                (119)           114                      4                   (1)   Transfer to stage 1
        Transfer ke tahap 2              10.032        (10.076)                    44                    -    Transfer to stage 2
        Transfer ke tahap 3              16.696          3.324                (20.020)                   -    Transfer to stage 3
        Aset baru                        12.119          6.657                  8.319               27.095    New assets originated
        Perubahan neto                  (44.525)          (114)               452.910              408.271    Net change
        Penghapusbukuan                       -              -               (441.324)            (441.324)   Write-off

                                                                                                              Balance at the end
        Saldo akhir tahun                37.030         14.028                24.318                75.376      of the year



                                                                 2022

                                    Tahap 1/       Tahap 2/             Tahap 3/                Total/
                                    Stage 1        Stage 2              Stage 3                 Total

                                                                                                              Balance at the beginning
        Saldo awal tahun                 45.847        10.765                   8.143               64.755       of the year
        Transfer ke tahap 1                 109          (104)                     (5)                   -    Transfer to stage 1
        Transfer ke tahap 2            (11.303)        11.351                     (48)                   -    Transfer to stage 2
        Transfer ke tahap 3            (20.663)        (4.986)                 25.649                    -    Transfer to stage 3
        Aset baru                        13.001          5.167                  3.429               21.597    New assets originated
        Perubahan neto                   15.836        (8.070)                 47.694               55.460    Net change
        Penghapusbukuan                       -              -               (60.477)              (60.477)   Write-off

                                                                                                              Balance at the end
        Saldo akhir tahun                42.827         14.123                24.385                81.335      of the year




        Manajemen berpendapat bahwa cadangan                                   Management believes that the allowance for
        kerugian penurunan nilai piutang pembiayaan                            impairment losses on Multipurpose Financing
        multiguna pada tanggal 31 Desember 2023                                Receivables as at December 31, 2023 and
        dan 2022 adalah memadai untuk menutup                                  2022 is adequate to cover possible losses that
        kemungkinan kerugian dari tidak tertagihnya                            may arise from uncollectible multipurpose
        piutang pembiayaan multiguna tersebut.                                 financing receivables.

   c.   Rincian pembiayaan multiguna menurut jenis                      c.    The details of multipurpose financing
        obyek pembiayaan:                                                     receivables based on object financed:
                                                   2023                  2022

        Obyek Pembiayaan :                                                               Object Financed :
          Tanah dan bangunan                       2.162.151                 26.102        Land and building
          Mobil                                          971              2.640.947        Car
          Motor                                       20.234                  1.853        Motorcycle
          Lainnya                                      2.258                  1.421        Others

        Jumlah                                     2.185.614              2.670.323 Total



                                                              - 90 -
Page 413
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                        unless otherwise stated)


     d.   SMF dan ABSM, entitas-entitas anak,                             d.      SMF     and    ABSM,      subsidiaries, grant
          memberikan jasa pembiayaan untuk tanah dan                              multipurpose financing for land and building
          bangunan dengan jangka waktu antara 1                                   with terms ranging 1 to 9 years and vehicles
          sampai 9 tahun dan kendaraan bermotor                                   with terms ranging from 1 to 5 years.
          dengan jangka waktu antara 1 sampai dengan
          5 tahun.
     e.   Piutang pembiayaan multiguna dijamin dengan                     e.      The multipurpose financing receivables are
          aset dan Bukti Pemilikan Kendaraan Bermotor                             secured with the related certificates of
          (BPKB) dari kendaraan bermotor yang dibiayai                            ownership (BPKB) of the vehicles financed by
          SMF dan ABSM.                                                           SMF and ABSM.
     f.   Pada tanggal 31 Desember 2023 dan 2022,                         f.      As at December 31, 2023 and 2022, there are
          terdapat piutang pembiayaan multiguna yang                              multipurpose financing receivables which are
          digunakan sebagai jaminan atas surat                                    pledged as collateral in relation to securities
          berharga yang diterbitkan dan pinjaman yang                             issued and loans received (Notes 30 and 31).
          diterima (Catatan 30 dan 31).
     g.   Berikut    ini   disajikan   rincian piutang                    g.      The details of multipurpose financing
          pembiayaan multiguna berdasarkan sisa umur                              receivables based on its remaining period until
          sampai dengan saat jatuh temponya:                                      maturity follows:
                                                     2023                  2022

          Tidak lebih atau sama dengan 1 tahun        1.338.553                1.348.489 Less than or equal to 1 year
          Lebih dari 1 tahun sampai dengan
             2 tahun                                   574.741                  833.800 More than 1 year until 2 years
          Lebih dari 2 tahun sampai dengan
             3 tahun                                   197.970                  376.421 More than 2 year until 3 years
          Lebih dari 3 tahun sampai dengan
             4 tahun                                    74.349                  111.613 More than 3 year until 4 years

          Jumlah                                      2.185.613                2.670.323 Total




7.   Piutang Sewa Pembiayaan                                         7.   Finance Lease Receivables

     a.   Terdiri dari:                                                   a.      This account consists of:
                                                     2023                  2022

          Piutang pembiayaan - pihak berelasi                                           Lease receivable - related parties
            (Catatan 49)                                64.763                   83.662   (Note 49)
          Piutang pembiayaan - pihak ketiga            145.917                  198.740 Lease receivable - third parties

          Jumlah                                       210.680                  282.402 Total

          Nilai residu yang terjamin                     65.965                   66.729 Guaranteed residual value
          Penghasilan pembiayaan tangguhan              (21.358)                (20.065) Unearned lease income
          Simpanan jaminan                              (65.965)                (66.729) Security deposits

          Jumlah - kotor                               189.322                  262.337 Total - gross

          Cadangan kerugian penurunan nilai             (14.025)                (11.786) Allowance for impairment losses

          Jumlah - bersih                              175.297                  250.551 Net

          Suku bunga per tahun                   9,25% - 17,77%      9,25% - 17,77% Interest rates per annum


     b.   Analisis atas perubahan dalam nilai tercatat                    b.      Analysis of changes in gross carrying amount
          bruto dan cadangan atas kerugian kredit                                 and allowance for expected credit losses
          ekspektasian     terkait  piutang      sewa                             related to finance lease receivables:
          pembiayaan:




                                                            - 91 -
Page 414
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


                                                            2023

                              Tahap 1/        Tahap 2/             Tahap 3/           Total/
                              Stage 1         Stage 2              Stage 3            Total

       Nilai tercatat bruto                                                                         Balance at the beginning
          awal tahun              262.337               -                    -          262.337        of the year
       Transfer ke tahap 1              -               -                    -                -     Transfer to stage 1
       Transfer ke tahap 2        (11.290)         11.290                    -                -     Transfer to stage 2
       Transfer ke tahap 3       (101.377)              -              101.377                -     Transfer to stage 3
       Perubahan neto             (73.184)              -                    -          (73.184)    Net change
       Aset baru                      169               -                    -              169     New assets originated

       Nilai tercatat bruto                                                                         Balance at the end
          akhir tahun              76.655          11.290              101.377          189.322       of the year



                                                            2022

                              Tahap 1/        Tahap 2/             Tahap 3/           Total/
                              Stage 1         Stage 2              Stage 3            Total

       Nilai tercatat bruto                                                                         Balance at the beginning
          awal tahun             305.265                   -                  -          305.265       of the year
       Transfer ke tahap 1              -                  -                  -                -    Transfer to stage 1
       Transfer ke tahap 2              -                  -                  -                -    Transfer to stage 2
       Transfer ke tahap 3              -                  -                  -                -    Transfer to stage 3
       Perubahan neto            (42.928)                  -                  -          (42.928)   Net change

       Nilai tercatat bruto                                                                         Balance at the end
          akhir tahun            262.337                   -                  -          262.337      of the year




                                                            2023

                              Tahap 1/        Tahap 2/             Tahap 3/           Total/
                              Stage 1         Stage 2              Stage 3            Total

                                                                                                    Balance at the beginning
       Saldo awal periode          11.786              -                     -            11.786       of the period
       Transfer ke tahap 1              -              -                     -                 -    Transfer to stage 1
       Transfer ke tahap 2           (636)           636                     -                 -    Transfer to stage 2
       Transfer ke tahap 3        (12.161)             -                12.161                 -    Transfer to stage 3
       Perubahan neto               2.243              -                     -             2.243    Net change
       Aset baru                       (4)             -                     -                (4)   New assets originated

                                                                                                    Balance at the end
       Saldo akhir tahun            1.228            636                12.161            14.025      of the year



                                                            2022

                              Tahap 1/        Tahap 2/             Tahap 3/           Total/
                              Stage 1         Stage 2              Stage 3            Total

                                                                                                    Balance at the beginning
       Saldo awal tahun             4.652                  -                  -            4.652       of the tahun
       Transfer ke tahap 1              -                  -                  -                -    Transfer to stage 1
       Transfer ke tahap 2              -                  -                  -                -    Transfer to stage 2
       Transfer ke tahap 3              -                  -                  -                -    Transfer to stage 3
       Perubahan neto             (32.119)                 -                  -          (32.119)   Net change
       Aset baru                   39.253                  -                  -           39.253    New assets originated

                                                                                                    Balance at the end
       Saldo akhir tahun           11.786                  -                  -           11.786      of the year




       Manajemen adalah berpendapat bahwa                               Management believes that the allowance for
       cadangan kerugian penurunan nilai piutang                        impairment losses on Finance Lease
       sewa pembiayaan pada tanggal 31 Desember                         Receivables as at December 31, 2023 and
       2023 dan 2022 memadai untuk menutup                              2022 is adequate to cover possible losses that
       kemungkinan kerugian dari tidak tertagihnya                      may arise from uncollectible finance lease
       piutang sewa pembiayaan tersebut.                                receivables.



                                                         - 92 -
Page 415
PT SINAR MAS MULTIARTHA TBK                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                 unless otherwise stated)


     c.   Rincian    piutang     sewa     pembiayaan                               c.     The details of consolidated finance lease
          berdasarkan umur dari angsuran:                                                 receivables based on its remaining period until
                                                                                          maturity follows:
                                                          2023                      2022

            Tidak lebih atau sama dengan
               1 tahun                                      210.668                      196.326      Less than or equal to 1 year
            Lebih dari 1 tahun tetapi tidak                                                           More than 1 year but less
               lebih dari 2 tahun                                    12                   73.808      Than 2 years
            Lebih dari 2 tahun                                        -                   12.268      More than 2 years

          Jumlah                                            210.680                      282.402 Total


     d.   Pada tanggal 31 Desember 2023 dan 2022,                                  d.     As at December 31, 2023 and 2022, the
          kualitas    piutang  sewa    pembiayaan                                         quality of finance lease receivables is
          dikelompokkan lancar dalam perhatian dan                                        classified as current, special mentioned, and
          kurang lancar.                                                                  substandand .


8.   Piutang Pembiayaan Modal Kerja Skema Anjak                               8.    Working Capital Financing with Factoring
     Piutang                                                                        Scheme Receivables

     a.   Terdiri dari:                                                             a. This account consists of:

                                                          2023                      2022

          Pihak berelasi (Catatan 49)                                                               Related party (Note 49)
            Rupiah                                           14.554                       61.843      Rupiah
          Pihak ketiga                                                                              Third parties
            Rupiah                                         2.669.235                 3.700.164        Rupiah

          Jumlah                                           2.683.789                 3.762.007 Total

          Cadangan kerugian penurunan nilai                 (170.272)                   (170.997) Allowance for impairment losses

          Jumlah - bersih                                  2.513.517                 3.591.010 Net

          Suku bunga per tahun                                                                      Interest rates per annum
            Rupiah                                    1,00% - 18,00%          9,25% - 18,00%           Rupiah



     b.   Analisis atas perubahan dalam nilai tercatat                              b.     An analysis of change in the gross carrying
          bruto dan cadangan atas kerugian kredit                                          amount and the corresponding expected
          ekspektasian terkait piutang pembiayaan                                          credit loss allowances of working capital
          modal kerja skema anjak piutang:                                                 financing with factoring scheme receivables
                                                                                           are as follows:
                                                                 2023

                                    Tahap 1/              Tahap 2/                 Tahap 3/                Total/
                                    Stage 1               Stage 2                  Stage 3                 Total

          Nilai tercatat bruto                                                                                            Beginning year gross
             awal tahun                  3.746.200                     -                  15.807             3.762.007       carrying amount
          Transfer ke tahap 1                6.125                     -                  (6.125)                    -    Transfer to stage 1
          Transfer ke tahap 2                    -                     -                       -                     -    Transfer to stage 2
          Transfer ke tahap 3                    -                     -                       -                     -       Transfer to stage 3
          Perubahan neto                (1.440.726)                    -                    (667)           (1.441.393)   Net change
          Aset baru                        372.190                     -                       -               372.190       New assets originated
          Penghapusbukuan                        -                     -                  (9.015)               (9.015)   Write-off

          Nilai tercatat bruto                                                                                            Ending year gross
             Akhir tahun                2.683.787                      -                       -            2.683.789       carrying amount




                                                                     - 93 -
Page 416
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


                                                             2022

                               Tahap 1/        Tahap 2/             Tahap 3/           Total/
                               Stage 1         Stage 2              Stage 3            Total

        Nilai tercatat bruto                                                                         Beginning year gross
           awal tahun            2.890.506           9.015                    -          2.899.521      carrying amount
        Transfer ke tahap 1              -               -                    -                  -   Transfer to stage 1
        Transfer ke tahap 2              -               -                    -                  -   Transfer to stage 2
        Transfer ke tahap 3         (6.792)         (9.015)              15.807                  -   Transfer to stage 3
        Perubahan neto          (1.573.110)              -                    -        (1.573.110)   Net change
        Aset baru                2.435.596               -                    -          2.435.596   New assets originated

        Nilai tercatat bruto                                                                         Ending year gross
           Akhir tahun           3.746.200                  -            15.807         3.762.007      carrying amount



                                                             2023

                               Tahap 1/        Tahap 2/             Tahap 3/           Total/
                               Stage 1         Stage 2              Stage 3            Total

                                                                                                     Balance at the beginning
        Saldo awal tahun          160.969                   -            10.028           170.997       of the year
        Transfer ke tahap 1            33                   -               (33)                -    Transfer to stage 1
        Transfer ke tahap 2             -                   -                 -                 -    Transfer to stage 2
        Transfer ke tahap 3             -                   -                 -                 -    Transfer to stage 3
        Perubahan neto              5.735                   -              (980)            4.755    Net change
        Aset baru                   3.535                   -                 -             3.535    New assets originated
        Penghapusbukuan                 -                   -            (9.015)           (9.015)   Write-off

                                                                                                     Balance at the end
        Saldo akhir tahun         170.272                   -                  -          170.272      of the year



                                                             2022

                               Tahap 1/        Tahap 2/             Tahap 3/           Total/
                               Stage 1         Stage 2              Stage 3            Total

                                                                                                     Balance at the beginning
        Saldo awal tahun            81.706           1.067                    -            82.773    of the year
        Transfer ke tahap 1              -               -                    -                 -    Transfer to stage 1
        Transfer ke tahap 2              -               -                    -                 -    Transfer to stage 2
        Transfer ke tahap 3         (1.013)         (9.015)              10.028                 -    Transfer to stage 3
        Perubahan neto              11.536               -                    -            11.536    Net change
        Aset baru                   68.740           7.948                    -            76.688    New assets originated

                                                                                                     Balance at the end
        Saldo akhir tahun          160.969                  -            10.028           170.997    of the year




        Manajemen berpendapat bahwa cadangan                             Management believes that the allowance for
        kerugian penurunan nilai piutang pembiayaan                      impairment losses on Working Capital
        modal kerja skema anjak piutang pada tanggal                     Financing with Factoring Scheme Receivables
        31 Desember 2023 dan 2022 adalah memadai                         as at December 31, 2023 and 2022 is
        untuk menutup kemungkinan kerugian dari                          adequate to cover possible losses that may
        tidak tertagihnya piutang pembiayaan modal                       arise from uncollectible working capital
        kerja skema anjak piutang tersebut.                              financing with factoring scheme receivables.

   c.   Pada tanggal 31 Desember 2023 dan 2022,                     c.   As at December 31, 2023 and 2022, there are
        terdapat piutang pembiayaan modal kerja                          working capital financing with factoring
        skema anjak piutang yang digunakan sebagai                       scheme receivables which are pledged as
        jaminan untuk surat berharga yang diterbitkan                    collateral in relation to securities issued and
        dan pinjaman yang diterima (Catatan 30 dan                       loans received (Notes 30 and 31).
        31).

   d.   Berikut ini adalah piutang pembiayaan modal                 d.   The details of working capital financing with
        kerja skema anjak piutang berdasarkan jatuh                      factoring scheme receivables based on
        tempo perjanjian:                                                maturity follows:



                                                          - 94 -
Page 417
PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                          unless otherwise stated)


                                                     2023                   2022

          Tidak lebih atau sama dengan 1 tahun        2.358.301              2.228.380 Less than or equal to 1 year
          Lebih dari 1 tahun sampai dengan
             2 tahun                                    325.488              1.533.627 More than year until 2 years

          Jumlah                                      2.683.789              3.762.007 Total




9.   Piutang Premi dan Reasuransi                                      9.   Premiums and Reinsurance Receivables

     a.   Terdiri dari:                                                     a.    This account consists of:

                                                     2023                   2022

          Pihak berelasi (Catatan 49)                                                      Related parties (Note 49)
            Piutang premi                                 3.202                      972     Premiums receivable
            Piutang reasuransi                            3.982                  999.171     Reinsurance receivables

            Jumlah                                        7.184              1.000.143 Total

          Pihak ketiga                                                                     Third parties
            Piutang premi                               860.107                  679.016     Premiums receivable
            Piutang reasuransi                        1.007.081                  629.406     Reinsurance receivables

            Jumlah                                    1.867.188              1.308.422 Total

          Jumlah                                      1.874.372              2.308.565 Total
          Cadangan kerugian penurunan nilai             (13.323)                (7.098) Allowance for impairment losses

          Jumlah - bersih                             1.861.049              2.301.467 Net



     b.   Rincian piutang premi          dan     reasuransi                 b. The details of premiums and reinsurance
          berdasarkan mata uang:                                               receivables classified based on currency
                                                                               follows:
                                                     2023                   2022

          Rupiah                                                                           Rupiah
            Piutang premi                               634.342                  368.683     Premiums receivable
            Piutang reasuransi                          537.365                  243.846     Reinsurance receivables

            Jumlah                                    1.171.707                  612.529 Subtotal

          Mata uang asing (Catatan 50)                                                     Foreign currencies (Note 50)
            Piutang premi                               228.967                311.305       Premiums receivable
            Piutang reasuransi                          473.698              1.384.731       Reinsurance receivables

            Jumlah                                      702.665              1.696.036 Subtotal

          Jumlah                                      1.874.372              2.308.565 Total
          Cadangan kerugian penurunan nilai             (13.323)                (7.098) Allowance for impairment losses

          Jumlah - bersih                             1.861.049              2.301.467 Net




                                                              - 95 -
Page 418
PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                          unless otherwise stated)


    c.   Rincian piutang reasuransi             berdasarkan                 c.    The details of reinsurance receivables
         domisili reasuradur:                                                     classified based on domicile of the reinsurer
                                                                                  follows:
                                                        2023                 2022

         Reasuradur dalam negeri                         449.942             1.245.645 Local reinsurance
         Reasuradur luar negeri                          561.121               382.932 Foreign reinsurance

         Jumlah                                         1.011.063            1.628.577 Total


    d.   Rincian piutang       premi      berdasarkan   jatuh               d.    The details of premiums receivable based on
         temponya:                                                                its remaining period until maturity follows:
                                                        2023                 2022

         Jatuh tempo 1 - 60 hari                                                         Due within 1 - 60 days
           Pihak berelasi                                  3.197                     967   Related parties
           Pihak ketiga                                  789.254                 637.177   Third parties
         Jatuh tempo lebih dari 60 hari                                                  Due over 60 days
           Pihak berelasi                                      5                       5   Related parties
           Pihak ketiga                                   70.853                  41.839   Third parties

         Jumlah                                          863.309                 679.988 Total


    e.   Mutasi cadangan kerugian penurunan nilai                            e. The changes in allowance for impairment
         adalah sebagai berikut:                                                losses follows:
                                                        2023                 2022

                                                                                           Balance at the beginning
         Saldo awal tahun                                   7.098                  6.044     of the year
         Penambahan
           selama tahun berjalan                            6.225                  1.054 Addition during the year

                                                                                           Balance at the end
         Saldo akhir tahun                                13.323                   7.098     of the year


    Manajemen berpendapat bahwa jumlah cadangan                             Management believes that the allowance for
    kerugian penurunan nilai untuk piutang premi dan                        impairment losses on premium and reinsurance
    reasuransi pada tanggal 31 Desember 2023 dan                            receivables as at December 31, 2023 and 2022 is
    2022 adalah memadai untuk menutup kerugian                              adequate to cover the possible losses which might
    yang mungkin timbul akibat tidak tertagihnya                            arise from uncollectible premiums and reinsurance
    piutang premi dan reasuransi tersebut.                                  receivables.


10. Kredit yang Diberikan                                                10. Loans

    Merupakan kredit yang diberikan oleh BS dan                             This account represents loans given by BS and
    SMF, entitas anak.                                                      SMF, subsidiaries.

    a.   Berdasarkan jenis kredit                                           a. By type of loans

                                                        2023                 2022

         Pihak berelasi (Catatan 49)                                                       Related parties (Note 49)
           Rupiah                                                                            Rupiah
           Pinjaman karyawan                              62.398                  47.171     Loans to employees
           Pinjaman tetap                                 16.967                  13.527     Fixed loans
           Pinjaman konsumsi                               8.973                   9.859     Consumer loans
           Pinjaman cicilan                                    -                     696     Installment loans
           Piutang syariah – qardh                            67                     113     Sharia receivables - qardh

         Jumlah - Rupiah                                  88.405                  71.366 Total - Rupiah



                                                                - 96 -
Page 419
PT SINAR MAS MULTIARTHA TBK                                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                            For the Years Ended
31 Desember 2023 dan 2022                                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                               unless otherwise stated)


                                                       2023                       2022

         Mata uang asing (Catatan 50)                                                           Foreign currencies (Note 50)
           Pinjaman tetap                                   7.699                       7.784     Fixed loans

       Jumlah - pihak berelasi                             96.104                      79.150 Total Related Parties

       Pihak ketiga                                                                             Third Parties
         Rupiah                                                                                   Rupiah
         Pinjaman cicilan                               3.976.144                 4.760.694       Installment loans
         Piutang syriah - musyarakah                    3.936.659                         -       Sharia receivables - musyarakah
         Pinjaman konsumsi                              3.075.630                 3.334.815       Customer loans
         Pinjaman tetap                                 3.656.940                 1.888.600       Fixed loans
         Pembiayaan - musyarakah                                -                 1.603.796       Sharia financing - musyarakah
         Pembiayaan - mudharabah                                -                 1.197.441       Sharia financing - mudharabah
         Piutang syariah - mudharabah                     377.007                         -       Sharia receivables - mudharabah
         Piutang syariah - murabahah                      695.145                   296.016       Sharia receivables - mudharabah
         Pinjaman rekening koran                          218.699                   226.657       Overdraft
         Piutang syariah - qardh                          171.840                   197.309       Sharia receivables - qardh
         Pinjaman karyawan                                 42.848                    34.823       Loans to employees
         Piutang syariah - ijarah                           6.980                     6.828       Sharia receivables – ijarah

         Jumlah - Rupiah                               16.157.892                13.546.979 Total - Rupiah

         Mata uang asing (Catatan 50)                                                           Foreign currencies (Note 50)
           Pinjaman cicilan                              450.868                  1.157.912       Installment loans
           Pinjaman tetap                                 71.859                     40.009       Fixed loans

         Jumlah – Mata uang asing                        522.727                  1.197.921 Total - Foreign currencies

         Jumlah - Pihak ketiga                         16.680.619                14.744.900 Total - third parties

       Jumlah                                          16.776.723                14.824.050 Total
       Cadangan kerugian penurunan nilai               (1.690.430)               (2.125.418) Allowance for impairment losses

       Jumlah - bersih                                 15.086.293                12.698.632 Net


                                                                      2023

                                        Tahap 1/       Tahap 2/            Tahap 3/       Syariah/       Jumlah/
                                        Stage 1        Stage 2             Stage 3         Sharia         Total

       Pihak berelasi (Catatan 49)                                                                                    Related parties (Note 49)
          Rupiah                                                                                                        Rupiah
            Pinjaman karyawan              62.398                 -                -               -        62.398         Loans to employees
            Pinjaman tetap                 16.967                 -                -               -        16.967         Fixed loans
            Pinjaman konsumsi               8.973                 -                -               -         8.973         Consumer loans
            Piutang syariah - qardh             -                 -                -              67            67         Sharia receivables - qardh

         Jumlah                            88.338                 -                -              67        88.405       Total

         Mata uang asing (Catatan 50)                                                                                 Foreign currency (Note 50)
           Pinjaman tetap                   7.699                 -                -                 -        7.699     Fixed loans

       Jumlah - pihak berelasi             96.037                 -                -              67        96.104    Total - related parties

       Pihak ketiga                                                                                                   Third parties
          Rupiah                                                                                                         Rupiah
            Pinjaman cicilan            3.128.438        814.208              33.498                 -    3.976.144         Installment loans
            Piutang syariah                                                                                                 Sharia receivables
               - musyarakah                     -              -                   -       3.936.659      3.936.659               - musyarakah
            Pinjaman tetap              3.646.949          9.991                   -               -      3.656.940         Fixed loans
            Pinjaman konsumsi           2.677.752        321.630              76.248               -      3.075.630         Consumer loans
            Piutang syariah                                                                                                 Sharia receivables
               - murabahah                         -              -                -        695.145        695.145                - murabahah
            Piutang syariah                                                                                                 Sharia receivables
               - mudharabah                     -                 -                -        377.007        377.007                - mudharabah
            Pinjaman rekening koran       218.699                 -                -              -        218.699          Overdraft
                                                                                                                            Sharia receivables
            Piutang syariah - qardh             -              -                  -         171.840        171.840                - qardh
            Pinjaman karyawan              42.119             61                668               -         42.848       Loans to employees
                                                                                                                            Sharia receivables
            Piutang syariah - ijarah               -              -                -            6.980         6.980         - ijarah

            Jumlah - Rupiah             9.713.957      1.145.890             110.414       5.187.631     16.157.892      Total - Rupiah




                                                                  - 97 -
Page 420
PT SINAR MAS MULTIARTHA TBK                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                 unless otherwise stated)


                                                                        2023

                                          Tahap 1/       Tahap 2/            Tahap 3/     Syariah/       Jumlah/
                                          Stage 1        Stage 2             Stage 3       Sharia         Total

                                                                                                                          Foreign currencies
         Mata uang asing (Catatan 50)                                                                                        Note 50)
           Pinjaman cicilan                 450.868                 -                -               -      450.868       Installment loans
           Pinjaman tetap                    71.859                 -                -               -       71.859          Fixed loans

            Jumlah                          522.727                 -                -               -      522.727       Total

       Jumlah - pihak ketiga              10.236.684     1.145.890             110.414    5.187.631      16.680.619       Total - third parties

       Jumlah                             10.332.721     1.145.890             110.414    5.187.698      16.776.723       Total

       Cadangan kerugian                                                                                                  Allowance for
         penurunan nilai                    (347.689)     (347.364)            (53.952)    (941.425)     (1.690.430)         impairment losses

       Jumlah - bersih                     9.985.032       798.526              56.462    4.246.273      15.086.293    Net



                                                                        2022

                                          Tahap 1/       Tahap 2/            Tahap 3/     Syariah/       Jumlah/
                                          Stage 1        Stage 2             Stage 3       Sharia         Total

       Pihak berelasi (Catatan 49)                                                                                     Related parties (Note 49)
          Rupiah                                                                                                         Rupiah
            Pinjaman karyawan                47.171                 -                -               -       47.171         Loans to employees
            Pinjaman tetap                   13.527                 -                -               -       13.527         Fixed loans
            Pinjaman konsumsi                 9.859                 -                -               -        9.859         Consumer loans
            Pinjaman cicilan                    696                 -                -               -          696         Installment loans
                                                                                                                            Syariah receivable
         Piutang syariah - qardh                     -              -                -          113             113              - qardh

         Jumlah                              71.253                 -                -          113          71.366    Total

         Mata uang asing (Catatan 50)                                                                                  Foreign currency (Note 50)
           Pinjaman tetap                      7.784                -                -               -        7.784      Fixed loans

       Jumlah - pihak berelasi               79.037                 -                -          113          79.150    Total - related parties

       Pihak ketiga                                                                                                    Third parties
          Rupiah                                                                                                          Rupiah
            Pinjaman cicilan               3.263.520     1.091.694             405.480               -    4.760.694          Installment loans
            Pinjaman konsumsi              3.115.802       149.708              69.305               -    3.334.815          Consumer loans
            Pinjaman tetap                 1.845.062        41.428               2.110               -    1.888.600          Fixed loans
                                                                                                                             Sharia financing
            Pembiayaan musyarakah                    -              -                -    1.603.796       1.603.796               - musyarakah
                                                                                                                             Sharia financing
            Pembiayaan mudharabah                    -              -                -    1.197.441       1.197.441               - mudharabah
                                                                                                                             Sharia financing
            Piutang syariah - murabahah           -                 -               -       296.016         296.016               - murabahah
            Pinjaman rekening koran         226.537                 -             120             -         226.657          Overdraft
                                                                                                                             Sharia receivables
            Piutang syariah - qardh                  -              -                -      197.309         197.309               - qardh
                                                                                                                             Sharia receivables
            Piutang syariah - ijarah              -             -                   -         6.828           6.828               - ijarah
            Pinjaman karyawan                34.161           104                 558             -          34.823          Loans to employees

            Jumlah                         8.485.082     1.282.934             477.573    3.301.390      13.546.979    Total

                                                                                                                       Foreign currencies
         Mata uang asing (Catatan 50)                                                                                    Note 50)
           Pinjaman cicilan                 380.598                 -          777.314               -    1.157.912      Installment loans
           Pinjaman tetap                    40.009                 -                -               -       40.009      Fixed loans

            Jumlah                          420.607                 -          777.314               -    1.197.921    Total

       Jumlah - pihak ketiga               8.905.689     1.282.934           1.254.887    3.301.390      14.744.900    Total - third parties

       Jumlah                              8.984.726     1.282.934           1.254.887    3.301.503      14.824.050    Total

       Cadangan kerugian                                                                                               Allowance for
         penurunan nilai                   (105.916)      (326.469)          (859.110)     (833.923)     (2.125.418)      impairment losses

       Jumlah - bersih                     8.878.810       956.465             395.777    2.467.580      12.698.632    Net




                                                                    - 98 -
Page 421
PT SINAR MAS MULTIARTHA TBK                                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                               For the Years Ended
31 Desember 2023 dan 2022                                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                  unless otherwise stated)


   b.   Berdasarkan sektor ekonomi                                                 b.        By economic sectors
                                                                               2023

                                            Tahap 1/      Tahap 2/            Tahap 3/          Syariah/        Jumlah/
                                            Stage 1       Stage 2             Stage 3            Sharia          Total

        Rupiah                                                                                                                 Rupiah
          Perdagangan besar
             dan eceran                      3.226.976      507.005             21.314           4.589.570       8.344.865        Wholesale and retail
          Rumah tangga                       2.721.848      313.574             72.304                 354       3.108.080        Household
          Aktivitas keuangan dan                                                                                                  Financial and insurance
             asuransi                        1.092.753            -                166                657        1.093.576           activities
          Pertambangan dan penggalian          780.252          147                  -                  -          780.399        Mining and excavation
          Informasi dan komunikasi             436.429      267.462              2.354                179          706.424        Information and communication
          Pertanian, kehutanan dan                                                                                                Agriculture, forestry
             perikanan                        328.557        12.672              3.049            242.310          586.588           and fishery
                                                                                                                                  Real estate, leasing
          Real estate, usaha persewaan,                                                                                              services and
             dan jasa perusahaan              508.732           279                  -            112.610          621.621           servicing companies
          Industri pengolahan                 251.053        15.139              3.961             16.217          286.370        Processing industries
          Jasa kesehatan dan kegiatan
             sosial                              4.339          285                      -        149.155          153.779        Health and social services
          Penyediaan akomodasi dan                                                                                                Accommodation and food
             penyediaan makan minum            81.915         7.582              4.169              15.811         109.477           and beverage
          Pengangkutan dan                                                                                                        Transportation,
             pergudangan                       83.103        17.416                389               2.116         103.024           warehousing
          Konstruksi                          103.329         1.967                737               5.279         111.312        Construction
          Aktivitas penyewaan dan                                                                                                 Leasing and leasing
             sewa guna usaha tanpa hak                                                                                               activities without options,
             opsi, ketenagakerjaan, agen                                                                                             employment, agency
             perjalanan dan penunjang                                                                                                travel and other business
             usaha lainnya                     67.088         1.006                636              19.605          88.335           support
          Bukan lapangan usaha lainnya         44.850           306                 42              25.576          70.774        Not other business fields
          Aktivitas profesional, ilmiah,                                                                                          Professional, scientific
             dan teknis                        35.485             -                 57                 769          36.311           and technical activities
          Aktivitas jasa lainnya               14.755           819              1.200               3.376          20.150        Others
          Jasa pendidikan                      12.906             -                 36               1.936          14.878        Education services
                                                                                                                                  Arts, entertainment, and
          Kesenian, hiburan dan rekreasi         2.314           25                      -           2.105           4.444           recreation
          Pengadaan listrik, gas, uap/air                                                                                         Supply of electricity, gas,
             panas dan udara dingin              3.041               -                   -                 59        3.100           steam/water hot and cold air
          Pengelolaan air, pengelolaan                                                                                            Water management, waste
             air limbah, pengelolaan                                                                                                 water management, waste
             dan daur ulang sampah,                                                                                                  management and recycling,
             dan aktivitas remediasi             2.570          206                      -                 14        2.790           and remediation activities
          Transportasi, pergudangan,                                                                                              Transportation, warehousing
             dan komunikasi                                                                                                          and communication

          Jumlah                             9.802.295    1.145.890            110.414           5.187.698      16.246.297        Total

        Mata uang asing (Catatan 50)                                                                                           Foreign currencies (Note 50)
          Industri pengolahan                 291.657                -                   -                  -      291.657        Processing industries
          Pertambangan dan penggalian         231.070                -                   -                  -      231.070        Mining and excavation
          Rumah tangga                          7.699                -                   -                  -        7.699        Household

          Jumlah                              530.426                -                   -                  -      530.426        Total

        Jumlah                              10.332.721    1.145.890            110.414           5.187.698      16.776.723     Total

        Cadangan kerugian                                                                                                      Allowance for impairment
          penurunan nilai                     (347.689)    (347.364)            (53.952)          (941.425)      (1.690.430)       losses

        Jumlah - bersih                      9.985.032      798.526             56.462           4.246.273      15.086.293        Net




                                                                     - 99 -
Page 422
PT SINAR MAS MULTIARTHA TBK                                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                For the Years Ended
31 Desember 2023 dan 2022                                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                   unless otherwise stated)


                                                                                 2022

                                             Tahap 1/      Tahap 2/             Tahap 3/          Syariah/        Jumlah/
                                             Stage 1       Stage 2              Stage 3            Sharia          Total

        Rupiah                                                                                                                   Rupiah
          Perdagangan besar
             dan eceran                       1.904.310      553.685             186.912           2.672.685       5.317.592     Wholesale and retail
          Rumah tangga                        2.993.098      147.788              69.908                 583       3.211.377     Household
          Perantara keuangan                  1.072.745            -                   -               1.813       1.074.558     Financial intermediary
          Transportasi, pergudangan,                                                                                             Transportation, warehousing
             dan komunikasi                    445.439       517.630               2.110                368          965.547        and communication
          Pertanian, perburuan dan                                                                                               Agriculture, hunting
             kehutanan                         534.149        17.181               1.988            233.653          786.971        and forestry
          Pertambangan dan penggalian          677.725             -                   -              8.489          686.214     Mining and excavation
          Industri pengolahan                  351.917         7.395               2.611             31.563          393.486     Manufacturing
                                                                                                                                 Real estate, leasing
          Real estate, usaha persewaan,                                                                                             services and
             dan jasa perusahaan                  6.121               -          175.000            123.696          304.817        servicing companies
          Jasa kesehatan dan kegiatan
             sosial                              7.516           257                   -            150.000          157.773     Health and social services
          Konstruksi                           150.861           177                 376              4.675          156.089     Construction
          Penyediaan akomodasi dan                                                                                               Accommodation and food
             penyediaan makan minum            101.840         8.338              37.537               5.060         152.775        and beverage
          Pengangkutan dan                                                                                                       Transportation,
             pergudangan                        95.776        29.067                 753              15.802         141.398        warehousing
          Bukan lapangan usaha lainnya          46.849            41                  67              33.402          80.359     Not other business fields
          Aktivitas penyewaan dan                                                                                                Leasing and leasing
             sewa guna usaha tanpa hak                                                                                           activities without options,
             opsi,ketenagakerjaan, agen                                                                                          employment, agency
             perjalanan dan penunjang                                                                                            travel and other business
             usaha lainnya                      57.646                -                    -          12.738          70.384        support
          Aktivitas profesional, ilmiah,                                                                                         Professional, scientific
             dan teknis                         62.191             -                  76                 363          62.630        and technical activities
          Aktivitas jasa lainnya                25.005         1.231                 235               6.063          32.534     Others
          Jasa pendidikan                       13.072            51                   -                   5          13.128     Education services
          Pengelolaan air, pengelolaan                                                                                           Water management, waste
             air limbah, pengelolaan                                                                                                water management, waste
             dan daur ulang sampah,                                                                                                 management and recycling,
             dan aktivitas remediasi              3.497               -                    -                 33        3.530        and remediation activities
          Pengadaan listrik, gas, uap/air                                                                                        Supply of electricity, gas,
             panas dan udara dingin               3.335               -                    -            118            3.453        steam/water hot and cold air
          Aktivitas rumah tangga sebagai                                                                                         Household activities as
             pemberi kerja; aktivitas yang                                                                                          employers; activities that
             menghasilkan barang dan jasa                                                                                           produce goods and
             oleh rumah tangga yang                                                                                                 services by household
             digunakan untuk memenuhi                                                                                               that are used
             kebutuhan sendiri                    2.229               -                    -                  -        2.229        to meet their own needs
                                                                                                                                 Arts, entertainment, and
          Kesenian, hiburan dan rekreasi          1.014           93                       -            394            1.501        recreation individual services

          Jumlah                              8.556.335    1.282.934             477.573           3.301.503      13.618.345     Total

        Mata uang asing (Catatan 50)                                                                                             Foreign currencies (Note 50)
          Real estat, usaha persewaan,                                                                                              Real estate, leasing services
             dan jasa perusahaan                     -                -          777.314                      -      777.314           and servicing companies
          Pertambangan dan penggalian          305.874                -                -                      -      305.874        Mining and excavation
          Industri pengolahan                   74.724                -                -                      -       74.724        Manufacturing
          Perdagangan besar dan                                                                                                     Wholesale and
             eceran                             31.130                -                    -                  -       31.130           retail trade
          Rumah tangga                           7.784                -                    -                  -        7.784        Household
          Transportasi, pergudangan,                                                                                             Transportation, warehousing
             dan komunikasi                       8.879               -                    -                  -        8.879           and communication

          Jumlah                               428.391                -          777.314                      -    1.205.705     Total

        Jumlah                                8.984.726    1.282.934            1.254.887          3.301.503      14.824.050     Total

        Cadangan kerugian                                                                                                        Allowance for impairment
          penurunan nilai                      (105.916)    (326.469)           (859.110)           (833.923)      (2.125.418)   losses

        Jumlah - bersih                       8.878.810      956.465             395.777           2.467.580      12.698.632     Net



   c.   Berdasarkan jangka waktu                                                        c. By maturity

        Jangka    waktu     kredit    diklasifikasikan                                         The classifications of loans based on its credit
        berdasarkan periode kredit sebagaimana yang                                            period, as stated in the loan agreements, and
        tercantum dalam perjanjian kredit dan waktu                                            based on its remaining period until maturity.
        yang tersisa sampai dengan saat jatuh
        temponya.



                                                                      - 100 -
Page 423
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


        Berdasarkan periode perjanjian kredit:                             Based on credit period:
                                                 2023                 2022

        Rupiah                                                                      Rupiah
          Kurang dari atau sama dengan
            1 tahun                               1.866.415            1.259.241      1 year or less
          Lebih dari 1 - 2 tahun                  5.253.216            2.584.749      More than 1 year until 2 years
          Lebih dari 2 - 5 tahun                  5.005.018            5.446.883      More than 2 year until 5 years
          Lebih dari 5 tahun                      4.121.648            4.327.472      More than 5 years

          Jumlah                                 16.246.297           13.618.345 Total

        Mata uang asing (Catatan 50)                                                Foreign currrencies (Note 50)
          Kurang dari atau sama dengan
            1 tahun                                    170                40.009      1 year or less
          Lebih dari 1 - 2 tahun                    33.123                 7.784      More than 1 year until 2 years
          Lebih dari 2 - 5 tahun                   277.335             1.083.188      More than 2 year until 5 years
          Lebih dari 5 tahun                       219.798                74.724      More than 5 years

          Jumlah                                   530.426             1.205.705      Total

        Jumlah                                   16.776.723           14.824.050     Total
        Cadangan kerugian penurunan nilai        (1.690.430)          (2.125.418) Allowance for impairment losses

        Jumlah - bersih                          15.086.293           12.698.632 Net


        Berdasarkan sisa umur jatuh tempo:                                 Based on remaining period until maturity:

                                                 2023                 2022

        Rupiah                                                                      Rupiah
          Kurang dari atau sama dengan
            1 tahun                               6.266.091            3.205.197      1 year or less
          Lebih dari 1 - 2 tahun                  4.063.465            3.461.548      More than 1 year until 2 years
          Lebih dari 1 - 5 tahun                  3.299.418            4.737.017      More than 2 years until 5 years
          Lebih dari 5 tahun                      2.617.323            2.214.583      More than 5 years

          Subtotal                               16.246.297           13.618.345      Subtotal

        Mata uang asing (Catatan 50)                                                Foreign currency (Note 50)
          Kurang dari atau sama dengan
            1 tahun                                 33.293                 47.793   1 year or less
          Lebih dari 1 - 2 tahun                    46.265                777.314   More than 1 year until 2 years
          Lebih dari 1 - 5 tahun                   231.070                305.874   More than 2 years until 5 years
          Lebih dari 5 tahun                       219.798                 74.724   More than 5 years

          Subtotal                                 530.426             1.205.705      Subtotal

        Total                                    16.776.723           14.824.050 Total
        Cadangan kerugian penurunan nilai        (1.690.430)          (2.125.418) Allowance for impairment losses

        Jumlah - bersih                          15.086.293           12.698.632 Net



   d.   Suku bunga per tahun kredit adalah sebagai                   d.    Average interest rates per annum on loans
        berikut:                                                           follows:

                                                 2023                 2022

        Rupiah                               0,00% - 37,42%       0,00% - 46,29% Rupiah
        Mata uang asing                      0,95% - 10,00%       0,76% - 12,00% Foreign currency




                                                        - 101 -
Page 424
PT SINAR MAS MULTIARTHA TBK                                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                             For the Years Ended
31 Desember 2023 dan 2022                                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                unless otherwise stated)


   e.   Mutasi cadangan kerugian penurunan nilai                                 e.       The changes in allowance for impairment
        kredit yang diberikan adalah sebagai berikut:                                     losses on loans follows:
                                                                              2023

                                         Tahap 1/       Tahap 2/         Tahap 3/           Syariah/       Jumlah/
                                         Stage 1        Stage 2          Stage 3             Sharia         Total

        Saldo awal                         105.916        326.469            859.110          833.923       2.125.418 Beginning balance
        Saldo awal kerugian kredit                                                                                    Beginning balance of
           ekspektasian pada fasilitas                                                                                   expected credit losses
           kredit yang belum ditarik        11.298             32                    22                -      11.352     on undrawn facilities
        Aset keuangan yang baru                                                                                       Recenlty acquired
           diperoleh                        59.086             26                     -                -      59.112     financial assets
        Perubahan bersih pada                                                                                         Net change in
           eksposur dan pengukuran                                                                                       exposure and
           kembali                         232.257         14.875             87.885          117.925        452.942     reamesurement
        Transfer ke kerugian kredit                                                                                   Transfer to 12-month
           ekspektasian 12 bulan                                                                                         expected credit
           (Tahap 1)                        15.356        (63.569)            (12.110)                 -     (60.323)    losses (Stage 1)
        Transfer ke kerugian kredit                                                                                   Transfer to 12-month
           ekspektasian sepanjang                                                                                        expected credit
           umurnya (Tahap 2)               (69.740)       208.812             (36.559)                 -     102.513     losses (Stage 2)
        Transfer ke penurunan kredit                                                                                  Transfer to credit
           (Tahap 3)                             (1)     (139.248)           254.069                   -     114.820     impairment (Stage 3)
        Penghapusbukuan selama
           tahun berjalan                         -                -    (1.210.245)           (10.423)     (1.220.668) Write-off during the year
        Selisih kurs                             (4)               -       111.834                  -         111.830    Exchange difference rate
        Kerugian kredit ekspektasian
           pada fasilitas kredit                                                                                         Expected credit losses on
           yang belum ditarik               (6.479)           (33)                (54)                 -       (6.566)     undrawn credit facilities

                                                                                                                         Balance at the end
        Saldo akhir                        347.689        347.364             53.952          941.425       1.690.430      of the year



                                                                              2022

                                         Tahap 1/       Tahap 2/         Tahap 3/           Syariah/       Jumlah/
                                         Stage 1        Stage 2          Stage 3             Sharia         Total

        Saldo awal                         103.041        505.853            622.868          386.931       1.618.693    Beginning balance
        Saldo awal kerugian kredit                                                                                       Beginning balance of
           ekspektasian pada fasilitas                                                                                      expected credit losses
           kredit yang belum ditarik        22.606                 -                 49                -      22.655        on undrawn facilities
        Aset keuangan yang baru                                                                                          Recenlty acquired
           diperoleh                       104.553          1.012            578.566                   -     684.131        financial assets
        Perubahan bersih pada                                                                                            Net change in
           eksposur dan pengukuran                                                                                          exposure and
           kembali                         (83.814)        49.181        (549.300)            373.112       (210.821)       reamesurement
        Transfer ke kerugian kredit                                                                                      Transfer to 12-month
           ekspektasian 12 bulan                                                                                            expected credit
           (Tahap 1)                         7.239       (31.460)              (4.102)                 -     (28.323)       losses (Stage 1)
        Transfer ke kerugian kredit                                                                                      Transfer to 12-month
           ekspektasian sepanjang                                                                                           expected credit
           umurnya (Tahap 2)               (36.431)       104.633             (23.055)                 -      45.147        losses (Stage 2)
        Transfer ke penurunan kredit                                                                                     Transfer to credit
           (Tahap 3)                           (61)     (302.718)            363.709                   -      60.930        impairment (Stage 3)
        Penerimaan kembali pinjaman
           yang telah dihapusbukukan                -              -          57.866           74.972        132.838     Recovery
        Penghapusbukuan selama
           tahun berjalan                        -                 -         (235.761)          (1.092)     (236.853)    Write-off during the year
        Selisih kurs                            81                 -           48.292                -         48.373    Exchange difference rate
        Kerugian kredit ekspektasian
           pada fasilitas kredit                                                                                         Expected credit losses on
           yang belum ditarik              (11.298)           (32)               (22)                  -      (11.352)     undrawn credit facilities

                                                                                                                         Balance at the end
        Saldo akhir                        105.916        326.469            859.110          833.923       2.125.418      of the year




                                                                   - 102 -
Page 425
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


         Manajemen berpendapat bahwa jumlah                                 Management believes that the allowance for
         cadangan kerugian penurunan nilai untuk                            impairment     losses     on loans as     at
         kredit    yang    diberikan    pada    tanggal                     December 31, 2023 and 2022 is adequate to
         31 Desember 2023 dan 2022 adalah memadai                           cover the possible losses which might arise
         untuk menutup kerugian yang mungkin timbul                         from uncollectible loans.
         akibat tidak tertagihnya kredit yang diberikan
         tersebut.

     f. Saldo kredit channeling BS pada tanggal                         f. As at December 31, 2023 and 2022, the
        31 Desember 2023 dan 2022 masing-masing                            outstanding balance of channeling of BS
        adalah sebesar Rp54.605 dan Rp174.587.                             amounted to Rp54,605 and Rp174,587,
                                                                           respectively.
     g. Saldo kredit joint financing pada tanggal                       g. As at December 31, 2023 and 2022, the
        31 Desember 2023 dan 2022 masing-masing                            outstanding balance of joint financing
        adalah     sebesar      Rp2.862.913      dan                       amounted to Rp2,862,913 and Rp2,981,243,
        Rp2.981.243.                                                       respectively.
     h. Kredit kepada pihak berelasi berupa pinjaman                    h. Loans granted to related parties, in the form of
        karyawan merupakan kredit untuk membeli                            employee loans, represent           loans    for
        kendaraan, rumah dan keperluan lainnya yang                        purchases of cars, houses and other
        dibebani bunga 0%-12% untuk kredit dibawah                         necessities with interest rates of 0%-12% for
        1 tahun dan 0% - 24,43% untuk kredit antara                        loans with term below 1 year and 0% - 24.43%
        1 sampai dengan 10 tahun.                                          for loans with terms ranging between 1 to 10
                                                                           years.
     i. Pada tanggal 31 Desember 2023 dan 2022,                         i. As at December 31, 2023 and 2022, the total
        kredit non-performing yang telah dihentikan                        gross non-performing loans amounted to
        pembebanan bunganya masing-masing adalah                           Rp260,004 and Rp1,265,510, respectively.
        sebesar Rp260.004 dan Rp1.265.510.
     j. Untuk tahun yang berakhir 31 Desember 2023                      j. For the year ended on December 31, 2023
        dan 2022, jumlah kredit yang direstrukturisasi                     and 2022, total restructured loans amounted to
        masing-masing sebesar Rp479.140 dan                                Rp479,140 and Rp1,046,200, respectively.
        Rp1.046.200.
        Perubahan persyaratan dan penyelesaian                              Changes in terms and settlement of debt
        utang yang dilakukan BS:                                            made by BS:
        •   Meminta jaminan tambahan baik itu                               •  Request additional guarantees in the form
            berupa aset tetap, jaminan pribadi,                                of fixed assets, personal guarantees,
            jaminan perusahaan, maupun saham.                                  company guarantees, or shares.
        •   Perubahan dengan penurunan suku                                 •  changes with the reduction of interest
            bunga, struktur fasilitas kredit menjadi                           rates, the structure of credit facilities into
            angsuran,     keringanan      pembayaran                           installments, installment payment relief,
            angsuran,     grace      period    pokok,                          principal grace periods, extension of credit
            perpanjangan jangka waktu fasilitas kredit.                        facility periods.
        •   Apabila debitur tetap mengalami kesulitan                       •  If the debtor is having difficulty with the
            kewajiban setiap bulan, maka akan                                  obligation to pay every month, thus it will
            diberikan Balooning Payment yang                                   be given Balooning Payment that is
            disesuaikan dengan kemampuan debitur.                              adjusted to the ability of the debtor.


11. Tagihan dan Liabilitas Akseptasi                                11. Acceptance Receivables and Payables

    a.   Tagihan Akseptasi                                             a.   Acceptance Receivables
                                                 2023                   2022

         Pihak ketiga                                                                Third parties
           Rupiah                                    29.791                 28.676     Rupiah
           Mata uang asing (Catatan 50)              50.073                 49.306     Foreign currencies (Note 50)

           Jumlah                                    79.864                 77.982     Total
         Cadangan kerugian penurunan nilai           (1.560)                  (593) Allowance for impairment losses

         Jumlah                                      78.304                 77.389 Total




                                                          - 103 -
Page 426
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                        unless otherwise stated)


                                                                   2023

                                Tahap 1/          Tahap 2/                Tahap 3/            Total/
                                Stage 1           Stage 2                 Stage 3             Total

                                                                                                             Balance at the beginning
         Saldo awal tahun                593                   -                     -                 593     of the year
         Pembentukan tahun
           Berjalan                      967                   -                     -                 967 Provision of current year

                                                                                                             Balance at the end
         Saldo akhir tahun             1.560                   -                     -             1.560       of the year



                                                                   2022

                                Tahap 1/          Tahap 2/                Tahap 3/            Total/
                                Stage 1           Stage 2                 Stage 3             Total

                                                                                                          Balance at the beginning
         Saldo awal tahun              2.646                   -                     -             2.646    of the year
         Penghapusan                  (2.053)                  -                     -            (2.053) Write-off

                                                                                                             Balance at the end
         Saldo akhir tahun               593                   -                     -                 593     of the year



         Manajemen berpendapat bahwa jumlah                                     Management believes that the allowance for
         cadangan kerugian penurunan nilai untuk                                impairment losses on as at December 31,
         tagihan akseptasi pada tanggal 31 December                             2023 and 2022 acceptance receivables is
         2023 dan 2022 adalah memadai untuk                                     adequate to cover the losses which might
         menutup kemungkinan kerugian yang akan                                 arise    from   uncollectible   acceptance
         timbul akibat tidak tertagihnya tagihan                                receivables.
         akseptasi tersebut.

    b.   Liabilitas Akseptasi                                             b.    Acceptance Payables

         Liabilitas akseptasi merupakan utang kepada                            Acceptance payables represent payables to
         bank lain - pihak ketiga masing-masing                                 other banks - third parties amounting to
         sebesar Rp79.880 dan Rp78.065 pada tanggal                             Rp79,880 and Rp78,065 as at December 31,
         31 Desember 2023 dan 2022.                                             2023 and 2022, respectively.


12. Aset Ijarah                                                     12. Ijarah Assets

    Pada tanggal 31 Desember 2023 dan 2022, akun                          As at December 31, 2023 and 2022, this account
    ini merupakan obyek sewa dari transaksi ijarah                        represents objects of the Ijarah Muntahiyah
    muntahiyah bittamlik dengan opsi perpindahan hak                      Bittamlik lease transactions with an option to
    milik obyek sewa dengan hibah.                                        transfer the leased object by grant.
                                                Perubahan selama tahun berjalan/
                                                    Changes during the year

                                                                   Pengalihan pada
                                                                   akhir masa akad/
                                1 Januari/                          Transfer to the       31 Desember/
                                 January        Penambahan/           lease at the          December
                                   2023           Additions         end of contract           2023

    Biaya perolehan                  574.384           87.595                  (46.454)          615.525 Cost
    Akumulasi penyusutan             102.355          114.799                  (35.531)          181.623 Accumulated depreciation

    Nilai Tercatat                   472.029          (27.204)                 (10.923)          433.902 Net Book Value




                                                             - 104 -
Page 427
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


                                                 Perubahan selama tahun berjalan/
                                                     Changes during the year

                                                                  Pengalihan pada
                                                                  akhir masa akad/
                                  1 Januari/                       Transfer to the        31 Desember/
                                   January       Penambahan/         lease at the           December
                                     2022          Additions       end of contract            2022

    Biaya perolehan                    450.099         207.851              (83.566)             574.384 Cost
    Akumulasi penyusutan                51.448         134.126              (83.219)             102.355 Accumulated depreciation

    Nilai Tercatat                     398.651          73.725                  (347)            472.029 Net Book Value




13. Piutang Transaksi Efek                                        13. Securities Transaction Receivables

                                                   2023                  2022

    Pihak ketiga                                                                   Third parties
      Piutang dari PT Kliring                                                        Receivable from
        Penjaminan                                                                      PT Kliring Penjaminan
        Efek Indonesia                                 74.241               70.267      Efek Indonesia
                                                                                   Receivables from
      Piutang manager investasi                        63.085               49.224   investment manager
      Piutang nasabah                                  17.396              464.695   Receivables from customers

    Jumlah                                            154.722              584.186 Total



    Transaksi efek merupakan piutang yang timbul                        Securities transactions receivables are receivables
    sehubungan dengan transaksi pembelian dan                           arising in connection with the purchase and sale of
    penjualan saham dan efek lainnya (bersih) yang                      shares and other securities (net) transaction that
    belum dilunasi pada tanggal laporan posisi                          have not been repaid as at the date of the
    keuangan konsolidasian.                                             consolidated statement of financial position.

    Manajemen tidak membentuk cadangan kerugian                         Management did not provide allowance for
    penurunan nilai atas piutang perusahaan efek                        impairment losses on securities transaction
    karena manajemen berpendapat bahwa piutang                          receivables because management believes that all
    transaksi efek tersebut seluruhnya dapat ditagih.                   such receivables are collectible.

14. Piutang Lain-lain                                             14. Other Accounts Receivable

                                                   2023                  2022

    Piutang bunga                                     573.312            1.268.134      Interest receivables
    Piutang hipotik                                    24.797               42.802      Mortgage receivables
    Piutang karyawan                                   12.783               10.996      Employees receivable
    Piutang klaim                                       2.255                  779      Claims receivable
    Piutang polis                                         203                  273      Policy receivable
    Lain-lain                                       2.369.928            2.238.750      Others

    Jumlah                                          2.983.278            3.561.734 Total
    Cadangan kerugian penurunan nilai                   (414)              (73.053) Allowance for impairment losses

    Jumlah - bersih                                 2.982.864            3.488.681 Net


    Piutang bunga terdiri dari piutang bunga atas                       Interest receivables consist of interest from time
    deposito  berjangka,    obligasi  dan    piutang                    deposits, bonds and working capital financing with
    pembiayaan modal kerja skema anjak piutang.                         factoring scheme receivables.




                                                           - 105 -
Page 428
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


   Pinjaman hipotik merupakan pinjaman yang                           Mortgage receivables represent loans cash value
   diberikan oleh ASM dan SMF, entitas-entitas anak,                  provided by ASM and SMF, subsidiaries, to their
   kepada karyawan dan pihak ketiga untuk                             employees and third parties for purchase of land or
   pembelian tanah atau bangunan. Pinjaman hipotik                    building. Mortgage loans granted to employees
   kepada karyawan dibebani bunga khusus                              bear special interest rate while those granted to
   sedangkan untuk pihak ketiga dibebani dengan                       third parties bear prevailing market interest rate.
   suku bunga pasar yang berlaku. Pelunasannya                        Payments are made through monthly installment.
   dilakukan dengan cara angsuran bulanan.                            These receivables are secured by mortgage on
   Pinjaman ini dijamin dengan surat hipotik atas                     land or building whose purchase is finance with the
   tanah atau bangunan yang pembeliannya dibiayai                     receivables.
   dengan pinjaman ini.

   Piutang klaim merupakan tagihan kepada                            Claims receivable represent receivables from
   tertanggung sehubungan dengan klaim yang                          policyholders in relation to payment of claims by
   dibayarkan    entitas anak    melebihi nilai                      subsidiaries in excess of the insurance coverage
   pertanggungan yang diperkenankan dalam polis                      limit of policyholders.
   asuransi kesehatan.

   Piutang polis merupakan piutang yang diberikan                     Policy receivable is a receivable granted to
   kepada pemegang polis yang telah memiliki nilai                    policyholders whose policies have cash value.
   tunai.

   Mutasi cadangan kerugian penurunan nilai adalah                    The changes in allowance for impairment losses on
   sebagai berikut:                                                   other receivables follows:

                                               2023                   2022

                                                                                 Balance at the beginning
   Saldo awal tahun                                73.053                    694   of the year
   Penambahan selama tahun berjalan                     -                 72.359 Addition during the year
   Pemulihan tahun berjalan                       (72.639)                     - Reversal during the year

   Saldo akhir tahun                                    414               73.053 Balance at the end of the year


   Manajemen berpendapat bahwa jumlah cadangan                        Management believes that the allowance for
   kerugian penurunan nilai untuk piutang lain-lain                   impairment losses on other accounts receivable as
   pada tanggal 31 Desember 2023 dan 2022 adalah                      at December 31, 2023 and 2022 is adequate to
   cukup untuk menutup kerugian yang mungkin                          cover the possible losses which might arise from
   timbul akibat tidak tertagihnya piutang lain-lain                  uncollectible other accounts receivable.
   tersebut.


15. Aset Reasuransi                                               15. Reinsurance Assets

                                               2023                   2022

   Estimasi klaim reasuransi                    1.542.534              1.382.041 Estimated claim liability
   Premi reasuransi belum merupakan
     pendapatan                                 2.391.444              2.457.892 Unearned premiums

   Jumlah                                       3.933.978              3.839.933 Total




16. Investasi Dalam Saham                                         16. Investment in Shares of Stock

   Pada tanggal 31 Desember 2023 dan 2022,                            As at December 31, 2023 and 2022, investments in
   investasi dalam saham dengan persentase                            shares with percentage of ownership of below 20%
   kepemilikan dibawah 20%, dikategorikan sebagai                     are categorized as at fair value through other
   aset keuangan yang diukur pada nilai wajar melalui                 comprehensive income.
   penghasilan komprehensif lain.




                                                        - 106 -
Page 429
PT SINAR MAS MULTIARTHA TBK                                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                    AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                              Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                    For the Years Ended
31 Desember 2023 dan 2022                                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                   (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                       unless otherwise stated)


                                                               2023                       2022

                                                                                                     The Company's investment
   Investasi saham oleh Perusahaan                                                                     in shares of stock
      Metode ekuitas                                              384.371                    390.462   Equity method
      Diukur pada nilai wajar melalui                                                                  Measured at fair value through
        penghasilan komprehensif lain                          2.379.088                   2.269.284      other comprehensive income

        Jumlah                                                 2.763.459                   2.659.746          Total

                                                                                                              Subsidiaries' investments
   Investasi saham oleh entitas anak                                                                            in shares of stock
      Metode ekuitas                                              298.717                       290.309         Equity method
      Diukur pada nilai wajar melalui                                                                           Measured at fair value through
        penghasilan komprehensif lain                             295.628                       143.208             other comprehensive income

        Jumlah                                                    594.345                       433.517       Total

   Jumlah                                                      3.357.804                   3.093.263 Total
   Cadangan kerugian penurunan nilai                              (8.000)                    (51.195) Allowance for impairment losses

   Jumlah-bersih                                               3.349.804                   3.042.068 Net



   a.     Investasi Saham oleh Perusahaan                                                 a. The Company’s Investments in Shares of
                                                                                             Stock

                                                                  Perubahan selama tahun 2023/
                                                                  Change during the year 2023

                                                                                                      Kenaikan
                                                                                                 (penurunan) nilai
                                                  Nilai                                              wajar dalam         Nilai
                                              penyertaan                                             penghasilan      penyertaan
                                              awal tahun                                            komprehensif      akhir tahun
                                               1 Januari     Penambahan           Ekuitas                 lain/      31 Desember
                                                 2023/      (Pengurangan)        pada laba             Increase          2023/
                                               Beginning        Investasi      (rugi) bersih/      (decreased) in       Ending
                                              Investment       /Additional         Share         fair value at other Investment
                                               January 1,     (Deduction)          in net         comprehensive December 31,
                                                 2023         Investment      income (loss)             income           2023

          Metode Ekuitas                                                                                                            Equity Method
            Entitas Asosiasi                                                                                                          Associates
            PT Elang Andalan Nusantara            390.462                -                  -              (6.091)        384.371     PT Elang Andalan Nusantara

          Aset keuangan yang diukur pada
            nilai wajar melalui penghasilan                                                                                         Financial asset at fair value
            komprehensif lain                                                                                                          through other comprehensive
            Entitas Asosiasi                                                                                                           Associates income
            PT MSIG Life Insurance                                                                                                     PT MSIG Life Insurance
                Indonesia Tbk                   1.358.453                -                  -             223.126       1.581.579         Indonesia Tbk
            PT Summit Oto Finance                 366.309                -                  -                   -         366.309      PT Summit Oto Finance
            PT Oto Multiartha                     139.306                -                  -                   -         139.306      PT Oto Multiartha
            PT SGMW Multifinance                                                                                                       PT SGMW Multifinance
                Indonesia                         114.000               -                   -                   -         114.000         Indonesia
            PT Bima Multi Finance                 111.751        (111.751)                  -                   -               -      PT Bima Multi Finance
            PT Sinar Mitra Sepadan                                                                                                     PT Sinar Mitra Sepadan
                Finance                            96.193                -                  -                   -          96.193         Finance
            PT Sinarmas Hana Finance               52.500                -                  -                   -          52.500      PT Sinarmas Hana Finance
            PT Bank China Construction                                                                                                 PT Bank China Construction
                Bank Indonesia Tbk                 13.500                -                  -                   -          13.500         Bank Indonesia Tbk
                                                                                                                                       PT Otoraja Network
             PT Otoraja Network Indonesia          10.000                -                  -                   -          10.000         Indonesia
             PT Oriente Mas Sejahtera               5.701                -                  -                   -           5.701      PT Oriente Mas Sejahtera
             Nanovest Ltd                           1.570           (1.570)                 -                   -               -      Nanovest Ltd
             PT Simas Sehat Sejahtera                   1               (1)                 -                   -               -      PT Simas Sehat Sejahtera

          Jumlah                                2.269.284        (113.322)                  -             223.126       2.379.088   Total




                                                                        - 107 -
Page 430
PT SINAR MAS MULTIARTHA TBK                                                                         PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                  AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                            Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                                 December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                 (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                     unless otherwise stated)


                                                                  Perubahan selama tahun 2022/
                                                                  Change during the year 2022

                                                                                               Kenaikan nilai
                                               Nilai                                            wajar dalam         Nilai
                                           penyertaan                                           penghasilan      penyertaan
                                           awal tahun                                          komprehensif      akhir tahun
                                            1 Januari                           Ekuitas              lain/      31 Desember
                                              2022/                            pada laba         Increase in        2022/
                                            Beginning                        (rugi) bersih/     fair value at      Ending
                                           Investment        Penambahan          Share              other        Investment
                                            January 1,        Additional/        in net       comprehensive     December 31,
                                              2022            Investment    income (loss)          income           2022

       Metode Ekuitas                                                                                                           Equity Method
         Entitas Asosiasi                                                                                                         Associates
         PT Elang Andalan Nusantara                      -        390.462                 -                -          390.462     PT Elang Andalan Nusantara

       Aset keuangan yang diukur pada
         nilai wajar melalui penghasilan                                                                                        Financial asset at fair value
         komprehensif lain                                                                                                         through other comprehensive
         Entitas Asosiasi                                                                                                          income
         PT MSIG Life Insurance                                                                                                    PT MSIG Life Insurance
             Indonesia Tbk                   1.620.938                  -                 -         (262.485)       1.358.453         Indonesia Tbk
         PT Summit Oto Finance                 366.309                  -                 -                -          366.309      PT Summit Oto Finance
         PT Oto Multiartha                     139.306                  -                 -                -          139.306      PT Oto Multiartha
         PT SGMW Multifinance                                                                                                      PT SGMW Multifinance
             Indonesia                         114.000                  -                 -                -          114.000         Indonesia
         PT Bima Multi Finance                 111.751                  -                 -                -          111.751      PT Bima Multi Finance
         PT Sinar Mitra Sepadan                                                                                                    PT Sinar Mitra Sepadan
             Finance                            96.193                  -                 -                -           96.193         Finance
         PT Sinarmas Hana Finance               52.500                  -                 -                -           52.500      PT Sinarmas Hana Finance
         PT Bank China Construction                                                                                                PT Bank China Construction
             Bank Indonesia Tbk                 13.500                  -                 -                -           13.500         Bank Indonesia Tbk
                                                                                                                                   PT Otoraja Network
          PT Otoraja Network Indonesia          10.000                  -                 -                -           10.000         Indonesia
          PT Oriente Mas Sejahtera               5.701                  -                 -                -            5.701      PT Oriente Mas Sejahtera
          Nanovest Ltd                               -              1.570                 -                -            1.570      Nanovest Ltd
          PT Simas Sehat Sejahtera                   -                  1                 -                -                1      PT Simas Sehat Sejahtera

       Jumlah                                2.530.198              1.571                 -        (262.485)        2.269.284   Total




       Metode Ekuitas                                                                         Equity Method

       PT Peduli Sehat Gotong Royong (PSGR)                                                   PT Peduli Sehat Gotong Royong (PSGR)

       PSGR, berkedudukan di Jakarta merupakan                                                PSGR, domiciled in Jakarta is a company
       perusahaan yang bergerak di bidang social                                              engaged in social media crowd funding. In
       media crowd funding. Pada tahun 2020,                                                  2020, the Company invested in PSGR shares
       Perusahaan melakukan investasi pada saham                                              of Rp8,000 each. The percentage of
       PSGR masing-masing sebesar Rp8.000.                                                    ownership in 2023 and 2022 is 31.01%. As at
       Persentase kepemilikan pada tahun 2023 dan                                             December 31, 2023 and 2022, the equity in
       2022 masing-masing sebesar 31,01%. Pada                                                the net loss in PSGR has exceeded the cost of
       tanggal 31 Desember 2023 dan 2022, ekuitas                                             the investment so that the carrying amount of
       pada rugi bersih di PSGR telah melebihi harga                                          the investment in PSGR is nil.
       perolehan investasi sehingga nilai tercatat
       investasi pada PSGR menjadi nihil.

       PT Elang Andalan Nusantara (EAN)                                                       PT Elang Andalan Nusantara (EAN)

       EAN, berkedudukan di Jakarta, merupakan                                                EAN, domiciled in Jakarta, is a company
       perusahaan yang bergerak di bidang                                                     engaged in trade and services. The Company
       perdagangan     dan     jasa. Perusahaan                                               invested Rp390,462 in EAN shares with an
       melakukan investasi pada saham EAN                                                     ownership interest of 2.21%.
       sebesar Rp390.462 dengan persentase
       kepemilikan sebesar 2,21%.




                                                                        - 108 -
Page 431
PT SINAR MAS MULTIARTHA TBK                                                 PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                          AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                          For the Years Ended
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                         (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                             unless otherwise stated)


       Pada Nilai Wajar     melalui   Penghasilan                 At   Fair   Value    Through          Other
       Komprehensif Lain                                          Comprehensive Income

       PT MSIG Life Insurance Indonesia Tbk (AJSM)                PT MSIG Life Insurance Indonesia Tbk
                                                                  (AJSM)

       AJSM, berkedudukan di Jakarta, merupakan                   AJSM, domiciled in Jakarta, engages in life
       perusahaan yang bergerak di bidang asuransi                insurance. The Company’s ownership interest
       jiwa. Kepemilikan Perusahaan pada AJSM                     in AJSM is 12.5%.
       sebesar 12,5%.

       PT Summit Oto Finance (SOF)                                PT Summit Oto Finance (SOF)

       SOF, berkedudukan di Jakarta, merupakan                    SOF, domiciled in Jakarta, engages in
       perusahaan yang bergerak di bidang                         financing. The Company invested in the SOF
       pembiayaan. Perusahaan melakukan investasi                 shares amounting to Rp366,309 with
       pada saham SOF sebesar Rp366.309 dengan                    ownership interest of 15%.
       persentase kepemilikan sebesar 15%.

       PT OTO Multiartha (OTO)                                    PT OTO Multiartha (OTO)

       OTO, berkedudukan di Jakarta, merupakan                    OTO, domiciled in Jakarta, engages in
       perusahaan yang bergerak di bidang                         financing. The Company invested in the OTO
       pembiayaan. Perusahaan melakukan investasi                 shares amounting to Rp139,306 with
       pada saham OTO sebesar Rp139.306 dengan                    ownership interest of 15%.
       persentase kepemilikan sebesar 15%.

       PT SGMW Multifinance Indonesia (SGMW)                      PT SGMW Multifinance Indonesia (SGMW)

       SGMW, berkedudukan di Jakarta merupakan                    SGMW, domiciled in Jakarta, engages in
       perusahaan yang bergerak di bidang                         financing. The Company invested in the
       pembiayaan. Perusahaan melakukan investasi                 SGMW shares amounting to Rp114,000 with
       pada saham SGMW sebesar Rp114.000                          ownership interest of 19%.
       dengan persentase kepemilikan 19%.

       PT Sinar Mitra Sepadan Finance (SMSF)                      PT Sinar Mitra Sepadan Finance (SMSF)

       SMSF, berkedudukan di Jakarta merupakan                    SMSF, domiciled in Jakarta, engages in
       perusahaan yang bergerak di bidang                         financing. The Company owns shares SMSF
       pembiayaan. Perusahaan memiliki 82.500                     series A 82,500 shares and series B
       saham seri A dan 1.425.000 saham seri B                    1,425,000 shares SMSF amounting to
       SMSF dengan nilai sebesar Rp96.193 atau                    Rp96,193 with ownership interest of 15%.
       setara dengan persentase kepemilikan 15%.

       PT Sinarmas Hana Finance (SHF)                             PT Sinarmas Hana Finance (SHF)

       SHF, berkedudukan di Jakarta, merupakan                    SHF, domicilied in Jakarta, engages in
       perusahaan yang bergerak di bidang                         financing. The Company invested in the SHF
       pembiayaan. Perusahaan melakukan investasi                 shares amounting to Rp22,500 with ownership
       pada saham SHF sebesar Rp22.500, dengan                    interest of 15%. In 2020, the Company
       persentase kepemilikan sebesar 15%. Pada                   increased its investment in SHF amounting to
       tahun 2020, Perusahaan menambah investasi                  Rp30,000 with same ownership interest.
       pada saham SHF sebesar Rp30.000 dengan
       persentase kepemilikan yang sama.




                                                     - 109 -
Page 432
PT SINAR MAS MULTIARTHA TBK                                                                 PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                          AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                    Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                          For the Years Ended
31 Desember 2023 dan 2022                                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                         (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                             unless otherwise stated)


        PT Bank China Construction Bank Indonesia                                       PT Bank China Construction Bank Indonesia
        Tbk (BCCBI)                                                                     Tbk (BCCBI)

        BCCBI, berkedudukan di Jakarta, merupakan                                       BCCBI, domiciled in Jakarta, is a company
        perusahaan yang bergerak di bidang                                              engaged in trade and services. The Company
        perdagangan     dan   jasa.    Perusahaan                                       invested Rp13,500 in BCCBI shares with a
        melakukan investasi pada saham BCCBI                                            0.24% ownership interest.
        sebesar    Rp13.500  dengan     persentase
        kepemilikan 0,24%.

        PT Oriente Mas Sejahtera (OMS)                                                  PT Oriente Mas Sejahtera (OMS)

        OMS, berkedudukan di Jakarta, merupakan                                         OMS, domiciled in Jakarta, is a Company
        perusahaan yang bergerak di bidang                                              engaged in the financing. The company
        pembiayaan. Perusahaan melakukan investasi                                      invests Rp5,701 in OMS shares with a 15%
        pada saham OMS sebesar Rp5.701 dengan                                           ownership interest.
        persentase kepemilikan 15%.

        Nanovest Ltd                                                                    Nanovest Ltd

        Nanovest,      berkedudukan  di    Jakarta,                                     Nanovest, domiciled in Jakarta, is a company
        merupakan perusahaan yang bergerak di                                           engaged in the financing. The Company
        bidang pembiayaan. Perusahaan melakukan                                         invests Rp1,570 in Nanovest shares with a
        investasi pada saham Nanovest sebesar                                           15% ownership interest (the Company has
        Rp1.570 dengan persentase kepemilikan 15%                                       sold the investment in 2023).
        (Pada tahun 2023, Perusahaan telah menjual
        investasi tersebut).

        PT Otoraja Network Indonesia (ONI)                                              PT Otoraja Network Indonesia (ONI)

        ONI, berkedudukan di Jakarta, merupakan                                         ONI, domiciled in Jakarta, is a company
        perusahaan yang bergerak di bidang bengkel                                      engaged in the motorcycle workshop. The
        sepeda     motor.  Perusahaan    melakukan                                      Company invests Rp10,000 in ONI shares with
        investasi pada saham ONI sebesar Rp10.000                                       a 40% ownership interest.
        dengan persentase kepemilikan 40%

        PT Bima Multi Finance (BMF)                                                     PT Bima Multi Finance (BMF)

        BMF, berkedudukan di Jakarta, merupakan                                         BMF, domiciled in Jakarta, is a company
        perusahaan yang bergerak di bidang                                              engaged in the credit financing. The Company
        pembiayaan kredit. Perusahaan melakukan                                         invests Rp111.751 in BMF shares with a
        investasi   pada     saham   BMF sebesar                                        40,07% ownership interest (the Company has
        Rp111.751 dengan persentase kepemilikan                                         sold the investment in 2023).
        40,07% (Pada tahun 2023, Perusahaan telah
        menjual investasi tersebut).

   b.   Investasi saham oleh entitas anak                                       b. Subsidiaries’ investments in shares of stock

                                                                                        2023

                                                                                         Pertukaran
                                               Nilai                      Ekuitas         Utang ke                       Dikonsolidasikan      Nilai
                                           penyertaan     Penambahan     pada laba        Ekuitas/                           ke entitas     penyertaan
                                           awal tahun/   (pengurangan) (rugi) bersih/      Debt to                             anak/        akhir tahun/
                                            Beginning       /Additional Share in net       Equity         Dividen/         Consolidated       Ending
                                           investment      (Deduction) income (loss)        Swap          Dividend        to subsidiaries   investment

        Metode Ekuitas/Equity method
          Entitas Asosiasi/Associates
             PT Bintang Rajawali Perkasa       140.309              -         (2.554)                 -              -                 -        137.755
             PT Asuransi Sumit Oto              78.296              -         11.020                  -              -                 -         89.316
             PT KB Insurance Indonesia          65.109              -          2.805                  -              -                 -         67.914




                                                                - 110 -
Page 433
PT SINAR MAS MULTIARTHA TBK                                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                        unless otherwise stated)


                                                                                                   2023
                                                                                                   Pertukaran
                                                          Nilai                      Ekuitas        Utang ke                           Dikonsolidasikan      Nilai
                                                      penyertaan     Penambahan     pada laba       Ekuitas/                               ke entitas     penyertaan
                                                      awal tahun/   (pengurangan) (rugi) bersih/     Debt to                                 anak/        akhir tahun/
                                                       Beginning       /Additional Share in net      Equity             Dividen/         Consolidated       Ending
                                                      investment      (Deduction) income (loss)       Swap              Dividend        to subsidiaries   investment

             PT Premium Garansi Indonesia                   6.585              -         (2.853)                -                  -                  -          3.732
             PT Sukucadang Karya Utama                         10            (10)             -                 -                  -                  -              -

       Jumlah/Total                                       290.309            (10)         8.418                 -                  -                  -       298.717


       Aset keuangan Pada Nilai Wajar melalui
          Penghasilan Komprehensif Lain/
       Financial assets at fair value through other
          comprehensive income
          Entitas Asosiasi/Associates
             PT Bima Multi Finance                         80.179        (80.179)              -                -                  -                  -              -
             PT Bursa Komoditi dan Derivatif
                 Indonesia                                 17.850              -               -                -                  -                  -        17.850
             Konsorsium Asuransi Risiko Khusus
                 PT Tugu Reasuransi Indonesia              17.500        (10.000)              -                -                  -                  -          7.500
             Fair Oil & Energy Insurance Syndicate          8.010         (8.010)              -                -                  -                  -              -
             PT Kustodian Sentral Efek Indonesia            6.600              -               -                -                  -                  -          6.600
             PT Asuransi MAIPARK Indonesia                  5.611              -               -                -                  -                  -          5.611
             PT Pemeringkat Efek Indonesia                  3.500              -               -                -                  -                  -          3.500
             Kapas Syariah                                  2.715              -               -                -                  -                  -          2.715
             PT Bursa Efek Indonesia                          135          7.365               -                -                  -                  -          7.500
             Nanjing Sinar Mas & ZiJin Venture
                 Capital Management                         1.088              -               -                -                  -                  -         1.088
             PT PPPMPI                                         20              -               -                -                  -                  -            20
             PT Bank Nano Syariah                               -        240.000               -                -                  -                  -       240.000
             PT Reasuransi MAIPARK Indonesia                    -          3.244               -                -                  -                  -         3.244

       Jumlah/Total                                       143.208        152.420               -                -                  -                  -       295.628


                                                                                                      2022

                                                                                                   Pertukaran
                                                          Nilai                     Ekuitas         Utang ke                           Dikonsolidasikan      Nilai
                                                      penyertaan                   pada laba        Ekuitas/                               ke entitas     penyertaan
                                                      awal tahun/               (rugi) bersih/       Debt to                                 anak/        akhir tahun/
                                                       Beginning    Penambahan/ Share in net         Equity             Dividen/         Consolidated       Ending
                                                      investment     Additional income (loss)         Swap              Dividend        to subsidiaries   investment

       Metode Ekuitas/Equity method
         Entitas Asosiasi/Associates
            PT Bintang Rajawali Perkasa                   140.309              -              -                 -                  -                  -       140.309
            PT Asuransi Sumit Oto                          76.101          2.195              -                 -                  -                  -        78.296
            PT KB Insurance Indonesia                      60.667          4.442              -                 -                  -                  -        65.109
            PT Premium Garansi Indonesia                    4.299          2.286              -                 -                  -                  -         6.585
            PT Sukucadang Karya Utama                          10              -              -                 -                  -                  -            10
            PT Setia Utama Realti                          72.263              -        (72.263)                -                  -                  -             -

       Jumlah/Total                                       353.649          8.923        (72.263)                -                  -                  -       290.309


       Aset keuangan Pada Nilai Wajar melalui
          Penghasilan Komprehensif Lain/
       Financial assets at fair value through other
          comprehensive income
          Entitas Asosiasi/Associates
             PT Bima Multi Finance                         81.526              -         (1.347)                    -              -                  -        80.179
             PT Bursa Komoditi dan Derivatif
                 Indonesia                                 17.850              -               -                -                  -                  -        17.850
             Konsorsium Asuransi Risiko Khusus
                 PT Tugu Reasuransi Indonesia              17.500              -               -                -                  -                  -        17.500
             Fair Oil & Energy Insurance Syndicate          6.440          1.570               -                -                  -                  -         8.010
             PT Kustodian Sentral Efek Indonesia            6.600              -               -                -                  -                  -         6.600
             PT Asuransi MAIPARK Indonesia                  5.611              -               -                -                  -                  -         5.611
             PT Pemeringkat Efek Indonesia                  3.500              -               -                -                  -                  -         3.500
             Kapas Syariah                                  2.715              -               -                -                  -                  -         2.715
             Nanjing Sinar Mas & ZiJin Venture
                 Capital Management                             -          1.088               -                -                  -                  -         1.088
             PT Bursa Efek Indonesia                          135              -               -                -                  -                  -           135
             PT PPPMPI                                          -             20               -                -                  -                  -            20
             Nanjing Sinar Mas & Zi Jin Private
                 Equity                                     2.481              -               -                -                  -            (2.481)              -
             Kashi Shin Kong Hualing Investment
                 Management Co.,Ltd                         2.127              -               -                -                  -            (2.127)              -
             Qindao Sinarmas & Zijin Venture
                 Capital Management Co.,Ltd                 2.198              -               -                -                  -            (2.198)              -
             Nanjing Zidong International Creative
                 Park Private Equity                          161              -               -                -                  -             (161)               -
             Nanjing Zijin Shuguang Enterprise
                 Management Center                             18              -               -                -                  -               (18)              -
             Nanjing Sinar Mas & Fangshan Private
                 Equity                                        51              -               -                -                  -               (51)              -




                                                                           - 111 -
Page 434
PT SINAR MAS MULTIARTHA TBK                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                 unless otherwise stated)


                                                                                              2022

                                                                                            Pertukaran
                                                     Nilai                     Ekuitas       Utang ke                       Dikonsolidasikan      Nilai
                                                 penyertaan                   pada laba      Ekuitas/                           ke entitas     penyertaan
                                                 awal tahun/               (rugi) bersih/     Debt to                             anak/        akhir tahun/
                                                  Beginning    Penambahan/ Share in net       Equity         Dividen/         Consolidated       Ending
                                                 investment     Additional income (loss)       Swap          Dividend        to subsidiaries   investment

            Nanjing Sinar Mas Mei Ah Movie
               Fund Management Co.,Ltd                    25             -              -                -              -               (25)              -
            PT Menara Proteksi Indonesia                  20             -              -                -              -               (20)              -
            Nanjing Zijin Xinguang Investment
               Management Center                          10             -              -                -              -               (10)              -

       Jumlah/Total                                  148.968         2.678        (1.347)                -              -            (7.091)       143.208



   Metode Ekuitas                                                                  Equity Method

   PT KB Insurance Indonesia (KBII)                                                PT KB Insurance Indonesia (KBII)

   KBII yang merupakan perusahaan patungan                                         KBII which is a joint venture with KB Insurance,
   dengan KB Insurance, Korea yang bergerak dalam                                  Korea which is engaged in the insurance sector.
   di bidang asuransi. ABSM melakukan investasi                                    ABSM made an investment in KBII shares of
   pada saham KBII sebesar Rp39.600 dengan                                         Rp39,600 with an ownership interest of 30%.
   presentasi kepemilikan sebesar 30%.

   PT Asuransi Sumit Oto (ASO)                                                     PT Asuransi Sumit Oto (ASO)

   ASO yang merupakan perusahaan patungan                                          ASO which is a joint venture with Djohan Marzuki
   dengan Djohan Marzuki dan PT Summit                                             and PT Summit Investment Indonesia which is
   Investment Indonesia yang bergerak dalam bidang                                 engaged in insurance. ASM's ownership in ASO is
   asuransi. Kepemilikan ASM pada ASO adalah                                       48%.
   48%.

   PT Bintang Rajawali Perkasa (BRP)                                               PT Bintang Rajawali Perkasa (BRP)

   BRP yang merupakan perusahaan patungan yang                                     BRP is a joint venture engaged in property. SU has
   bergerak di bidang properti. Kepemilikan SU pada                                ownership interest in BRP of 40%.
   BRP adalah sebesar 40%.

   PT Setia Utama Realti (SUR)                                                     PT Setia Utama Realti (SUR)

   SUR merupakan perusahaan yang bergerak di                                       SUR is a company engages in property. RLS
   bidang properti. RLS melakukan investasi pada                                   invested in SUR amounting to Rp60,000 with
   saham SUR sebesar Rp60.000 dengan presentasi                                    ownership interest of 40%.
   kepemilikan sebesar 40%.

   PT Premium Garansi Indonesia (PGI)                                              PT Premium Garansi Indonesia (PGI)

   PGI merupakan perusahaan yang bergerak di                                       PGI is a company engages in guarantee for used
   bidang garansi untuk mobil bekas. JTU melakukan                                 cars. JTU invested in PGI amounting to Rp3.300
   investasi pada saham PGI sebesar Rp3.300                                        with ownership interest of 33%.
   dengan presentasi kepemilikan sebesar 33%.

   Pada  Nilai   Wajar                melalui      Penghasilan                     At Fair ValueThrough Other Comprehensive
   Komprehensif Lain                                                               Income

   PT Bima Multi Finance (BMF)                                                     PT Bima Multi Finance (BMF)

   BMF merupakan perusahaan                     yang     bergerak                  BMF is subsidiary engaged in financing.
   dibidang pembiayaan.




                                                                     - 112 -
Page 435
PT SINAR MAS MULTIARTHA TBK                                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                           For the Years Ended
31 Desember 2023 dan 2022                                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                              unless otherwise stated)


   Pada tanggal 15 Maret 2019, ASJ, ASM, ASI dan                                On March 15, 2019, ASJ, ASM, ASI, and other
   beberapa kreditur lainnya telah menyetujui konversi                          creditors had agreed to the conversion of Medium
   Medium Term Notes BMF menjadi saham.                                         Term Notes of BMF into shares. The conversion is
   Konversi tersebut merupakan upaya entitas anak                               an effort of subsidiaries and other creditors to
   dan     beberapa      kreditur    lainnya    untuk                           rescue and develop the business of BMF. The
   menyelamatkan dan mengembangkan usaha BMF.                                   Group has ownership interest of 40.07% in BMF
   Grup memiliki 40,07% saham BMF setelah                                       after the conversion.
   konversi tersebut.

   Pada bulan Desember 2019, Perusahaan                                         In December 2019, the Company has taken over
   mengambil alih kepemilikan ASJ pada BMF                                      the ownership of ASJ in BMF amounting to
   dengan nilai sebesar Rp111.751 (Pada tahun                                   Rp111,751 (the Company has sold the investment
   2023, Perusahaan telah menjual investasi                                     in 2023).
   tersebut).

   Ikhtisar informasi keuangan entitas asosiasi adalah                          The summary of financial information of associates
   sebagai berikut:                                                             is as follows:

                                                                    2023

                               Jumlah aset/    Jumlah liabilitas/          Jumlah ekuitas/     Laba (rugi) bersih/
                               Total Assets     Total Liabilities            Total Equity      Net Income (loss)

   Investasi saham oleh                                                                                              Investment in shares by
      Perusahaan                                                                                                        the Company
      PT Peduli Sehat Gotong                                                                                            PT Peduli Sehat Gotong
        Royong                         3.621              11.532                     (7.911)               (2.847)         Royong
   Investasi saham oleh                                                                                              Investment in shares by
      entitas anak                                                                                                      the subsidiaries
      PT Bintang Rajawali                                                                                            PT Bintang Rajawali
        Perkasa                     361.700               16.419                   345.281                 (6.385)      Perkasa
      PT Asuransi Sumit Oto         495.889              304.860                   191.029                 36.733    PT Asuransi Sumit Oto
      PT KB Insurance                                                                                                PT KB Insurance
        Indonesia                   649.378              422.976                   226.402                  9.353       Indonesia
      PT Premium Garansi                                                                                             PT Premium Garansi
        Indonesia                     28.419                9.668                    18.751                 7.432       Indonesia

                                                            2022

                               Jumlah aset/    Jumlah liabilitas/          Jumlah ekuitas/     Laba (rugi) bersih/
                               Total Assets     Total Liabilities            Total Equity      Net Income (loss)

   Investasi saham oleh                                                                                              Investment in shares by
      Perusahaan                                                                                                        the Company
      PT Peduli Sehat Gotong                                                                                            PT Peduli Sehat Gotong
        Royong                         6.467              11.532                    (5.065)               (3.831)          Royong
   Investasi saham oleh                                                                                              Investment in shares by
      entitas anak                                                                                                      the subsidiaries
      PT Bintang Rajawali                                                                                               PT Bintang Rajawali
        Perkasa                     378.887               30.847                   348.040                  3.616          Perkasa
      PT Setia Utama Realti         168.303               51.532                   116.771               (11.729)       PT Setia Utama Realti
      PT Asuransi Sumit Oto         390.636              227.485                   163.151                 33.425       PT Asuransi Sumit Oto
      PT KB Insurance                                                                                                   PT KB Insurance
        Indonesia                   548.193              331.141                   217.052                  6.495          Indonesia
      PT Premium Garansi                                                                                                PT Premium Garansi
        Indonesia                     29.474                9.510                    19.964                 9.606          Indonesia


   Mutasi cadangan kerugian penurunan nilai adalah                              The change in allowance for impairment losses
   sebagai berikut:                                                             follows:

                                                     2023                        2022

                                                                                             Balance at the beginning
   Saldo awal tahun                                      51.195                      52.543    of year
   Pemulihan tahun berjalan                             (43.195)                     (1.348) Reversal during the year

   Saldo akhir tahun                                      8.000                      51.195 Balance at the end of year




                                                              - 113 -
Page 436
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


    Manajemen berpendapat bahwa jumlah cadangan                         Management believes that the allowance for
    kerugian penurunan nilai untuk investasi dalam                      impairment losses on investment in shares of stock
    saham pada tanggal 31 Desember 2023 dan 2022                        as at December 31, 2023 and 2022 is adequate to
    adalah cukup untuk menutup kemungkinan                              cover possible losses that may arise from these
    kerugian yang akan timbul akibat penurunan nilai                    investment in shares.
    investasi dalam saham.


17. Properti Investasi                                             17. Investment Properties

    Pada tanggal 31 Desember 2023 dan 2022, akun                        As at December 31, 2023 and 2022, these
    ini merupakan investasi pada tanah dan bangunan                     represent investments in land and building owned
    milik entitas anak yaitu ASM, RLS, ASJ, SMF dan                     by ASM, RLS, ASJ, SMF and ABSM.
    ABSM.

    Berikut ini adalah saldo dan mutasi properti                        Following are the balances of and changes in
    investasi dan akumulasi penyusutannya:                              investment properties and the related accumulated
                                                                        depreciation:

                                                       Perubahan selama tahun 2023/
                                                       Changes during the year 2023
                                   1 Januari/                                                  31 Desember/
                                    January     Penambahan/    Pengurangan/   Reklasifikasi/     December
                                      2023       Additions      Deductions  Reclassification       2023

    Biaya perolehan                                                                                           At Cost
       Bangunan                       523.842          5.709          (4.051)              -        525.500      Building

    Akumulasi penyusutan                                                                                      Accumulated
                                                                                                                Depreciation
       Bangunan                       101.158         14.724          (4.051)              -        111.831     Building

    Nilai Tercatat                    422.684                                                       413.669   Net Book Value



                                                       Perubahan selama tahun 2022/
                                                       Changes during the year 2022
                                   1 Januari/                                                  31 Desember/
                                    January     Penambahan/    Pengurangan/   Reklasifikasi/    December
                                      2022       Additions      Deductions  Reclassification       2022

    Biaya perolehan                                                                                           At Cost
       Bangunan                       537.420          3.473        (17.051)               -        523.842      Building

    Akumulasi penyusutan                                                                                      Accumulated
                                                                                                                Depreciation
       Bangunan                       103.629         14.580        (17.051)               -        101.158     Building

    Nilai Tercatat                    433.791                                                       422.684   Net Book Value



    Beban penyusutan properti investasi untuk tahun                     Depreciation expense for the years ended
    yang berakhir pada tanggal 31 Desember 2023 dan                     December 31, 2023 and 2022 amounted to
    2022 masing-masing sebesar Rp14.724 dan                             Rp14,724 and Rp14,580, respectively.
    Rp14.580.

    Properti investasi telah diasuransikan kepada ASM,                  Investment properties are insured with ASM, a
    entitas anak, dan perusahaan asuransi lainnya,                      subsidiary, and other insurance companies, third
    pihak ketiga, dengan jumlah pertanggungan                           parties, for Rp413,668 and Rp729,400 in 2023 and
    sebesar Rp413.668 dan Rp729.400 pada tahun                          2022, respectively. Management believes that the
    2023 dan 2022. Manajemen berpendapat bahwa                          insurance coverages are adequate to cover any
    nilai pertanggungan tersebut telah cukup untuk                      possible losses that might arise from the assets
    menutup kemungkinan kerugian atas aset tetap                        insured.
    terhadap risiko-risiko yang dipertanggungkan.

    Manajemen berpendapat bahwa tidak terdapat                          Management believes that there is no impairment
    penurunan nilai atas properti investasi tersebut                    in value of investment properties as at
    pada tanggal 31 Desember 2023 dan 2022.                             December 31, 2023 and 2022.



                                                          - 114 -
Page 437
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


18. Aset Tetap                                                     18. Property and Equipment

                                                     Perubahan selama tahun 2023/
                                                      Changes during the year 2023
                                 1 Januari/                                                         31 Desember/
                                  January      Penambahan/    Pengurangan/      Reklasifikasi/       December
                                    2023        Additions      Deductions      Reclassification         2023

   Biaya perolehan                                                                                                 At cost
   Pemilikan langsung                                                                                              Direct acquisitions
   Tanah                            860.371             129               -                  -           860.500   Land
   Bangunan                       1.594.069          34.254         (18.807)           (50.606 )       1.558.910   Buildings
   Peralatan kantor               2.487.428         176.415         (31.752)            (7.373 )       2.624.718   Office equipment
   Kendaraan bermotor               272.969          52.286         (15.596)                (5)          309.654   Vehicles
   Perlengkapan kantor              110.391           7.707          (6.591)             5.498           117.005   Furniture and fixture
   Mesin dan peralatan               19.699           (497)               -                  -            19.202   Machineries and equipment
   Aset dalam pembangunan            52.426           3.982          (1.157)             1.880            57.131   Buildings under construction
   Aset yang disewakan              294.901         135.527         (96.249)            50.606           384.785   Right-of-use assets

   Jumlah                         5.692.254         409.803        (170.152)                   -       5.931.905   Total

   Akumulasi penyusutan                                                                                            Accumulated depreciations
   Pemilikan langsung                                                                                              Direct acquisitions
   Bangunan                         807.529          90.110         (17.954)           (26.476 )         853.209   Buildings
   Peralatan kantor               1.610.474         178.807         (27.760)            (3.955 )       1.757.566   Office equipment
   Kendaraan bermotor               164.930          36.660         (16.918)               830           185.502   Vehicles
   Perlengkapan kantor               84.767           7.871          (4.223)             4.535            92.950   Furniture and fixture
   Mesin dan peralatan               18.388             598            (749)                 -            18.237   Machineries and equipment
   Aset yang disewakan              235.506         117.143         (98.268)            25.066           279.447   Right-of-use assets

   Jumlah                         2.921.594         431.189        (165.872)                   -       3.186.911   Total

   Nilai Tercatat                 2.770.660                                                            2.744.994   Net Book Value



                                                     Perubahan selama tahun 2022/
                                                      Changes during the year 2022
                                 1 Januari/                                                         31 Desember/
                                  January      Penambahan/    Pengurangan/      Reklasifikasi/       December
                                    2022        Additions      Deductions      Reclassification         2022

   Biaya perolehan                                                                                                 At cost
   Pemilikan langsung                                                                                              Direct acquisitions
   Tanah                             816.495         39.887               -               3.989          860.371   Land
   Bangunan                        1.570.477         35.544         (12.847)                895        1.594.069   Buildings
   Peralatan kantor                2.326.996        163.319          (2.887)                  -        2.487.428   Office equipment
   Kendaraan bermotor                252.122         38.732         (17.885)                  -          272.969   Vehicles
   Perlengkapan kantor               109.318          5.665          (4.592)                  -          110.391   Furniture and fixture
   Mesin dan peralatan                18.967            732               -                   -           19.699   Machineries and equipment
   Aset dalam pembangunan            451.775             54        (394.519)             (4.884 )         52.426   Buildings under construction
   Aset yang disewakan               193.812        105.353          (4.264)                  -          294.901   Right-of-use assets

   Jumlah                          5.739.962        389.286        (436.994)                   -       5.692.254   Total

   Akumulasi penyusutan                                                                                            Accumulated depreciations
   Pemilikan langsung                                                                                              Direct acquisitions
   Bangunan                          710.547        109.829         (12.847)                   -         807.529   Buildings
   Peralatan kantor                1.425.493        187.292          (2.311)                   -       1.610.474   Office equipment
   Kendaraan bermotor                151.126         31.557         (17.753)                   -         164.930   Office equipment
   Perlengkapan kantor                79.901          8.859          (3.993)                   -          84.767   Vehicles
   Mesin dan peralatan                17.471            917               -                    -          18.388   Machineries and equipment
   Aset yang disewakan               141.868         96.864          (3.226)                   -         235.506   Right-of-use assets

   Jumlah                          2.526.406        435.318         (40.130)                   -       2.921.594   Total

   Nilai Tercatat                  3.213.556                                                           2.770.660   Net Book Value




   Beban penyusutan aset tetap untuk tahun 2023                        Depreciation charged to operations in 2023 and
   dan 2022 masing-masing sebesar Rp431.189 dan                        2022 amounted to Rp431,189 and Rp435,318,
   Rp435.318. Sebesar Rp24.765 dan Rp11.500 dari                       respectively of Rp24,765 and Rp11,500 of the fixed
   beban penyusutan aset tetap untuk tahun 2023 dan                    asset depreciation expense for 2023 and 2022 is
   2022 dialokasikan ke dalam beban lain - beban                       allocated to other expenses - direct cost of service
   pokok jasa bengkel (Catatan 45).                                    center (Note 45).

   Penjualan aset tetap dengan rincian sebagai                         Sale of property and equipment with details as
   berikut:                                                            follows:




                                                         - 115 -
Page 438
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


                                                2023                2022

   Harga penjualan                                   6.088            399.579 Selling price
   Nilai tercatat                                    4.280            396.864 Net book value

                                                                                Gain on sale of property and
   Laba penjualan aset tetap (Catatan 41)            1.808              2.715     equipment (Note 41)



   Pada tanggal 31 Desember 2023 dan 2022, aset                    As at December 31, 2023 and 2022, construction
   tetap dalam pembangunan merupakan kontruksi                     in progress represent building construction in
   bangunan di Batam, Bandung, Palembang,                          Batam,     Bandung,    Palembang,   Denpasar,
   Denpasar, Mojokerto, Garut, Jakarta, Bima, Deskoll              Mojokerto, Garut, Jakarta, Bima, Deskcoll
   Semarang dan Cianjur. Estimasi penyelesaian                     Semarang and Cianjur. The estimated year of
   pembangunan tersebut pada tahun 2023 - 2024.                    completion is between 2023 - 2024 estimated.
   Persentase      penyelesaian      aset      dalam               Percentage of completion of building under
   pembangunan pada tanggal 31 Desember 2023                       construction as at December 31, 2023 and 2022
   dan 2022 rentan dari 20% - 80%.                                 ranges from 20% - 80%.

   Aset tetap telah diasuransikan kepada ASM,                      Property and equipment are insured with ASM, a
   entitas anak, dan perusahaan asuransi lainnya,                  subsidiary, and other insurance companies
   dengan jumlah pertanggungan masing-masing                       amounting to Rp2.029.458 and Rp1,477,604 as at
   sebesar Rp2.029.458 dan Rp1.477.604 pada                        December 31, 2023 and 2022, respectively.
   tanggal 31 Desember 2023 dan 2022. Manajemen                    Management believes that the insurance
   berpendapat bahwa nilai pertanggungan tersebut                  coverages are adequate to cover any possible
   telah cukup untuk menutup kemungkinan kerugian                  losses that might arise from the assets insured.
   atas aset tetap terhadap risiko-risiko yang
   dipertanggungkan.

   Pada tanggal 31 Desember 2023 dan 2022, tidak                   As at December 31, 2023 and 2022, there are no
   terdapat aset tetap yang tidak dipakai dan                      property and equipment that were withdrawn from
   dihentikan      dari    penggunaannya       namun               active use and were classified as held-for-sale.
   diklasifikasikan sebagai aset untuk dijual.

   Pada tanggal 31 Desember 2023 dan 2022,                         As at December 31, 2023 and 2022, certain
   sebagian aset tetap milik SMF dijadikan sebagai                 property and equipment owned by SMF, a
   jaminan atas pinjaman yang diterima SMF (Catatan                subsidiary, are pledged as collateral on loan
   31).                                                            received by SMF (Note 31).

   Manajemen berpendapat bahwa tidak terdapat                      Management believes that there is no impairment
   penurunan nilai atas nilai tercatat aset tersebut               in value of the aforementioned assets as at
   pada tanggal 31 Desember 2023 dan 2022.                         December 31, 2023 and 2022.


19. Agunan yang Diambil Alih                                   19. Foreclosed Properties

   Agunan yang diambil alih diperoleh SMF dan BS,                  Foreclosed properties were obtained by SMF and
   entitas-entitas anak, dari penyelesaian piutang dan             BS, subsidiaries, from settlement of their
   kredit.                                                         customers’ receivables and loans.

                                                2023                2022

   Tanah, rumah dan apartemen                     362.473             616.918 Land, houses, and apartments
   Kendaraan bermotor                                   -              28.678 Vehicles

   Jumlah                                         362.473             645.596 Total
   Cadangan kerugian penurunan nilai              (88.120)           (250.361) Allowance for impairment losses

   Jumlah - bersih                                274.353             395.235 Net




                                                         - 116 -
Page 439
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                    AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                    For the Years Ended
31 Desember 2023 dan 2022                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                   (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                       unless otherwise stated)


    Agunan yang diambil alih tidak diasuransikan.                       These foreclosed properties are not insured.

    Saat ini SMF dan BS sedang dalam proses                             Currently, SMF and BS are still in the process of
    menjual agunan yang diambil alih, antara lain                       selling the foreclosed properties, i.e. by
    dengan bekerja sama dengan agen pemasaran                           cooperating with property agents to sell the land,
    properti untuk memasarkan tanah, rumah dan                          houses and apartment units.
    apartemen tersebut.

    Mutasi cadangan kerugian penurunan nilai agunan                     The changes is allowance for impairment losses on
    yang diambil alih.                                                  foreclosed properties follows:

                                                    2023                 2022

                                                                                    Balance at the beginning
    Saldo awal tahun                                  250.361              274.610    of the year
    Penghapusan                                      (162.241)             (24.249) Write-off

    Saldo akhir periode/tahun                         88.120               250.361 Balance at the en of period/year



    Manajemen berpendapat bahwa jumlah cadangan                         Management believes that the allowance for
    kerugian   penurunan     nilai  pada   tanggal                      impairment losses on Foreclosed Properties as at
    31 Desember 2023 dan 2022 adalah memadai                            December 31, 2023 and 2022 is adequate to cover
    untuk menutup kerugian yang mungkin timbul                          the possible losses which might arise from the
    akibat penurunan nilai agunan yang diambil alih                     decline in values of the foreclosed properties.
    tersebut.


20. Aset Lain-lain                                                   20. Other Assets

                                                    2023                 2022

    Aset kontrak                                    3.172.577             2.649.694  Contract assets
    Goodwill                                          497.820                14.496  Goodwill
    Biaya dibayar dimuka                              472.721               387.891  Prepaid expenses
    Persediaan                                        342.163               347.810  Inventories
                                                                                     Advanced payment for purchase
    Uang muka pembelian aset tetap                   188.734                210.049     of property and equipment
    Uang jaminan                                      81.477                 52.474 Security deposits
    Pajak dibayar dimuka                              81.402                 33.044 Prepaid taxes
    Uang muka investasi                               46.520                 46.521 Advance for investments
                                                                                     Advance payment of
    Uang muka renovasi bangunan                       17.583                 11.143     buildings renovation
    Lain-lain                                        804.162              1.269.383 Others
    Cadangan penurunan nilai                          (6.963)                      -    Allowance for impairment losses

    Jumlah                                          5.698.196             5.022.505 Total


    Aset kontrak merupakan beban imbal jasa                             Contract assets represents re-guarantee fee paid
    penjaminan kembali yang telah dibayarkan kepada                     or portion of re-guarantee fees that have been paid
    perusahaan penjaminan kembali dan diakui secara                     to the re-guarantee company and recognized as a
    proporsional   sesuai     dengan      persentase                    proportionate deduction from the guarantee fee
    penyelesaian kewajiban selama periode proteksi                      income in accordance with the percentage of
    penjaminan yang diterima berdasarkan kontrak                        settlement of obligations during the guarantee
    penjaminan kembali, masing-masing sebesar                           protection period received based on the re-
    Rp3.172.577 dan Rp2.649.694 pada tanggal 31                         guarantee contract amounting to Rp3,172,577 and
    Desember 2023 dan 2022.                                             Rp2,649,694 as at December 31, 2023 and 2022,
                                                                        respectively.

    Biaya dibayar dimuka meliputi biaya sewa kantor,                    Prepaid expenses include prepayments of office
    biaya administrasi saham, materai dan premi                         rental, shares administration charges, stamp duties
    asuransi.                                                           and insurance premiums.



                                                           - 117 -
Page 440
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


   Uang muka pembelian aset tetap dan renovasi                    Advanced payment for purchase of property and
   bangunan merupakan pembelian dan atau                          equipment and advanced payment for buildings
   pembayaran kepada pemasok dan kontraktor yang                  renovation represent advances for purchases
   belum terselesaikan pada tanggal laporan posisi                and/or payment to suppliers and contractors which
   keuangan konsolidasian.                                        have not been settled as at the date of
                                                                  consolidated statements of financial position.

   Pajak dibayar dimuka meliputi pajak badan lebih                Prepaid taxes represent overpayment of corporate
   bayar dan Pajak Pertambahan Nilai.                             income tax and Value Added Tax.



21. Simpanan dan Simpanan dari Bank Lain                       21. Deposits and Deposits from Other Banks

   Merupakan simpanan dan simpanan dari bank lain                 These represent deposits and deposits from other
   pada BS, entitas anak.                                         banks placed in BS, a subsidiary.

                                              2023                 2022

   Giro                                     14.656.092             13.594.027   Demand deposits
   Tabungan                                 12.690.959             11.189.303   Saving deposits
   Deposito berjangka                       13.259.941             11.748.628   Time deposits
   Simpanan dari bank lain                     343.213                 15.553   Deposits from other banks

   Jumlah                                   40.950.205             36.547.511 Total



   a.   Giro terdiri dari:                                         a. Demand deposits consist of:

                                              2023                 2022

        Pihak berelasi (Catatan 49)                                             Related parties (Note 49)
          Rupiah                              1.777.151             1.314.300     Rupiah
          Mata uang asing (Catatan 50)        2.529.009             1.243.091     Foreign currencies (Note 50)

          Jumlah                              4.306.160             2.557.391 Total

        Pihak ketiga                                                            Third parties
          Rupiah                              7.421.129             8.527.724     Rupiah
          Mata uang asing (Catatan 50)        2.928.803             2.508.912     Foreign currencies (Note 50)

          Jumlah                            10.349.932             11.036.636 Total

        Jumlah                              14.656.092             13.594.027 Total


        Suku bunga per tahun giro adalah sebagai                       Average interest rates per annum on demand
        berikut:                                                       deposits follows:

                                              2023                 2022

        Rupiah                           0,00% - 4,75%          0,00% - 6,00% Rupiah
        Mata uang asing                  0,00% - 4,00%          0,00% - 0,25% Foreign currencies

  b.    Tabungan terdiri dari:                                     b. Savings deposits consist of:

                                              2023                 2022

        Rupiah                                                                  Rupiah
          Pihak berelasi (Catatan 49)          289.427                 92.281     Related parties (Note 49)
          Pihak ketiga                      12.401.532             11.097.022     Third parties

        Jumlah                              12.690.959             11.189.303 Total




                                                     - 118 -
Page 441
PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                  AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                 December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                 (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                     unless otherwise stated)


        Suku bunga per tahun tabungan adalah                               Average interest rates per annum on savings
        sebesar 0,00% - 5,00%, pada tanggal                                deposits range from 0.00% - 5.00% as at
        31 Desember 2023 dan 2022.                                         December 31, 2023 and 2022, respectively.

        Saldo tabungan yang diblokir dan dijadikan                         Total time deposits which were blocked and
        jaminan bank garansi pada tanggal 31                               used as collateral for bank guarantees as at
        Desember 2023 dan 2022 masing-masing                               December 31, 2023 and 2022, amounted to
        adalah sebesar Rp3.202 dan Rp2.693                                 Rp3,202 and Rp2,693, respectively (Notes 10
        (Catatan 10 dan 53).                                               and 53).

   c.   Deposito berjangka terdiri dari:                              c.   Time deposits consist of:

                                                 2023                  2022

        Pihak berelasi (Catatan 49)                                                 Related parties (Note 49)
          Rupiah                                  2.393.349             2.797.597     Rupiah
          Mata uang asing (Catatan 50)              553.684                29.955     Foreign currencies (Note 50)

            Jumlah                                2.947.033             2.827.552 Total

        Pihak ketiga                                                                Third parties
          Rupiah                                  9.753.581             7.597.240     Rupiah
          Mata uang asing (Catatan 50)              559.327             1.323.836     Foreign currencies (Note 50)

            Jumlah                               10.312.908             8.921.076 Total

        Jumlah                                   13.259.941            11.748.628 Total



        Saldo deposito berjangka yang diblokir dan                         Total time deposits which were blocked and
        dijadikan jaminan kredit, letters of credit dan                    used as collateral for loans, letters of credit,
        bank garansi pada tanggal 31 Desember 2023                         and bank guarantees as at December 31,
        dan 2022 masing-masing adalah sebesar                              2023 and 2022, amounted to Rp801,364 and
        Rp801.364 dan Rp993.795 (Catatan 10 dan                            Rp993,795, respectively (Notes 10 and 53).
        53).

        Suku bunga per tahun deposito berjangka                            Interest rates per annum on time deposits
        adalah sebagai berikut:                                            follows:

                                                 2023                  2022

        Rupiah                               0,00% - 6,75%          0,75% - 6,50% Rupiah
        Mata uang asing                      0,00% - 4,50%          0,00% - 3,20% Foreign currencies

   d.   Simpanan dari bank lain terdiri dari giro dari                d.   Deposits from other banks consist of current
        bank lain pihak ketiga sebagai berikut:                            accounts from other third-party banks as
                                                                           follows:

                                                 2023                  2022

        Rupiah                                     343.213                 15.553 Rupiah



   Suku bunga per tahun giro dari bank lain adalah                    Interest rate per annum on demand deposits from
   sebagai berikut:                                                   other banks follows:

                                                 2023                  2022

   Rupiah                                    0,00% - 6,27%          0,00% - 2,50% Rupiah




                                                          - 119 -
Page 442
PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                          unless otherwise stated)


22. Efek-efek yang Dijual dengan Janji beli Kembali                     22. Securities  Sold     under             Agreement      to
    - Pihak Ketiga                                                          Repurchased - Third Parties

    Pada tanggal 31 Desember 2023, efek-efek yang                           As at December 31, 2023, securities sold under
    dijual dengan janji beli kembali adalah sebagai                         agreement to repurchased are:
    berikut:

                                                         31 December/December 31, 2023

                                                                            Tanggal
                                    Jenis/        Jangka waktu/          jatuh tempo/         Nilai bersih/
                                    Type              Term                 Due Date            Net value

    Pihak Lawan                                                                                                Counterparty
                                                                              5 Januari/
      Bank BPD Jatim                   FR0087          7 hari/days       January 5, 2024             189.364     Bank BPD Jatim
                                                                              5 Januari/
      Bank BPD Jatim                   FR0087          7 hari/days       January 5, 2024             189.364     Bank BPD Jatim
                                                                              5 Januari/
      Bank BPD Jatim                   FR0087          7 hari/days       January 5, 2024             189.364     Bank BPD Jatim
                                                                              3 Januari/
      Bank BPD Jatim                   FR0082          6 hari/days       January 3, 2024             193.449     Bank BPD Jatim
                                                                              3 Januari/
      Bank BPD Jatim                   FR0082          6 hari/days       January 3, 2024             145.088     Bank BPD Jatim
                                                                              3 Januari/
      Bank BPD Jatim                   FR0082          6 hari/days       January 3, 2024             145.088     Bank BPD Jatim

    Jumlah                                                                                         1.051.717   Total




23. Utang Asuransi                                                      23. Insurance Payable

    Terdiri dari:                                                           This consists of:

                                                      2023                   2022

    Pihak berelasi (Catatan 49)                                                            Related parties (Note 49)
      Utang premi                                        11.523                     823      Premiums payable
      Utang reasuransi                                    3.568                 131.910      Reinsurance payable
      Utang komisi                                        1.982                     573      Commissions payable
      Utang klaim asuransi                                1.398                   5.475      Insurance claims payable

      Jumlah                                             18.471                 138.781 Total

    Pihak ketiga                                                                           Third parties
      Utang reasuransi                                  970.248               1.027.101      Reinsurance payable
      Utang komisi                                      181.808                 135.489      Commissions payable
      Utang premi                                       115.442                 200.294      Premiums payable
      Utang klaim asuransi                               82.757                 606.377      Insurance claims payable

      Jumlah                                           1.350.255              1.969.261 Total

    Jumlah                                             1.368.726              2.108.042 Total




24. Liabilitas Kontrak        Penjaminan        dan   Premi             24. Guarantee Contract Liabilities and Premium
    Diterima Dimuka                                                         Received in Advance

                                                      2023                   2022

    Liabilitas kontrak penjaminan                      3.565.155              3.044.703 Re-guarantee contract liabilities
    Premi diterima dimuka                                324.416                155.667 Deferred premium income

    Jumlah                                             3.889.571              3.200.370 Total




                                                              - 120 -
Page 443
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


    a.   Liabilitas Kontrak Penjaminan                                a.    Re-guarantee Contract Liabilities

                                               2023                    2022

         Imbal jasa penjaminan-bersih           3.384.970              2.884.600 Guarantee fee - net
         Komisi imbal jasa penjaminan                                            Commission from re-guarantee
           kembali-bersih                         180.185                160.103   fee - net

         Jumlah                                 3.565.155              3.044.703 Total



    b.   Premi Diterima Dimuka                                        b.    Deferred Premium Income

         Akun ini merupakan premi yang diterima                             This account represents premiums received in
         dimuka oleh ASM dan ASI, entitas anak,                             advance by ASM and ASI, subsidiaries, in
         sehubungan dengan penerbitan polis asuransi                        relation to insurance policies issued with
         dengan jangka waktu pertanggungan lebih dari                       coverage period of more than one (1) year.
         1 (satu) tahun.

         Rincian premi diterima dimuka berdasarkan                          Deferred premium income by type of insurance
         jenis asuransi adalah sebagai berikut:                             are as follows:

                                               2023                    2022

          Aneka                                   197.379                   11.866   Various
          Kecelakaan diri                          59.530                   81.396   Personal accident
          Kebakaran                                47.216                   21.213   Fire
          Rekayasa                                 10.664                        -   Engineering
          Kendaraan bermotor                        7.346                   12.204   Motor Vehicles
          Kesehatan                                 2.265                   28.973   Health
          Pengangkutan                                 16                       15   Marine Cargo

          Jumlah                                  324.416                  155.667 Total




25. Liabilitas Manfaat Polis Masa Depan                           25. Liability for Future Policy Benefits

    a.   Rincian liabilitas manfaat polis masa depan                  a. The details of liability for future policy benefits
         berdasarkan jenis pertanggungan adalah                          based on type of coverage follows:
         sebagai berikut:

                                               2023                    2022

         Perorangan:                                                                 Individual:
           Dwiguna dan kombinasinya                35.842                   29.659      Combined endowment
           Seumur hidup dan kombinasinya              399                      321      Whole life combined
           Kematian                                   339                      171      Death

           Jumlah                                  36.580                   30.151 Total

         Kumpulan:                                                                   Group:
           Seumur hidup                           326.353                  229.146     Whole life
           Dwiguna                                  4.327                    4.478     Endowment
           Kematian                                   242                       26     Death

           Jumlah                                 330.922                  233.650 Total

         Jumlah                                   367.502                  263.801 Total




                                                        - 121 -
Page 444
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


   b.   Perubahan liabilitas manfaat polis masa depan                 b.    The changes in liability for future policy
        adalah sebagai berikut:                                             benefits follows:
                                                  2023                 2022

                                                                                   Balance at the beginning
        Saldo awal tahun                            263.801                179.627    of the year
        Kenaikan liabilitas manfaat                                                Increase in liability for future
          polis masa depan (Catatan 42)             103.701                 84.174    benefits (Note 42)

        Saldo akhir tahun                           367.502                263.801 Balance at the end of year



26. Premi Belum Merupakan            Pendapatan    dan             26. Unearned Premiums and Estimated Claims
    Estimasi Liabilitas Klaim                                          Liability
                                                  2023                 2022

   Premi belum merupakan pendapatan               4.294.632            3.894.313 Unearned premiums
   Estimasi liabilitas klaim                      2.620.725            2.887.196 Estimated claims liability

   Jumlah                                         6.915.357            6.781.509 Total


   a.   Premi belum merupakan pendapatan                              a.    Unearned Premiums

        Rincian premi belum merupakan pendapatan                            Unearned premiums by type of insurance
        berdasarkan jenis asuransi adalah sebagai                           follows:
        berikut:
                                                  2023                 2022

        Aneka                                     1.357.740            1.977.775     Various
        Kendaraan bermotor                        1.036.640              861.314     Motor vehicles
        Rekayasa                                    857.815               69.790     Engineering
        Kebakaran                                   796.036              743.362     Fire
        Kesehatan                                   107.913              115.623     Health
        Kecelakaan diri                              81.605               37.083     Personal accident
        Kerangka kapal                               41.430               79.285     Marine full
        Pengangkutan                                 14.565                8.734     Marine cargo
        Kematian                                        888                1.347     Death

        Jumlah                                    4.294.632            3.894.313 Total



        Perubahan    premi    belum       merupakan                         The changes in unearned premiums follows:
        pendapatan adalah sebagai berikut:
                                                  2023                 2022

                                                                                     Balance at the beginning
        Saldo awal tahun                          3.894.313            2.819.069       of the year
        Kenaikan premi belum
          merupakan pendapatan                                                   Increase in unearned
          (Catatan 38)                               461.690             362.580    premiums (Note 38)
        Kenaikan aset reasuransi                   1.195.133           1.261.581 Increase in reinsurance assets
        Penurunan dana tabarru                    (1.256.504)          (548.917) Decrease in tabarru' fund

        Saldo akhir tahun                         4.294.632            3.894.313 Balance at the end of year




                                                         - 122 -
Page 445
 PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
 DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
 Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
 31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
 kecuali dinyatakan lain)                                                                      unless otherwise stated)


      b.   Estimasi liabilitas klaim                                    b.    Estimated Claims Liability

           Rincian estimasi liabilitas klaim berdasarkan                       The details of estimated claims liability by type
           jenis asuransi adalah sebagai berikut:                              of insurance were as follows:

                                                  2023                   2022

           Kebakaran                               1.219.906              1.062.403    Fire
           Kendaraan bermotor                        530.522                613.792    Motor vehicles
           Aneka                                     412.401                648.777    Miscellaneous
           Rekayasa                                  302.228                367.556    Engineering
           Pengangkutan                               93.860                 92.289    Marine cargo
           Kerangka kapal                             28.237                 34.621    Marine hull
           Kematian                                   19.626                 24.251    Death
           Kesehatan                                  13.380                 42.141    Health
           Kecelakaan dini                               565                  1.366    Personal accident

           Jumlah                                  2.620.725              2.887.196 Total


           Perubahan estimasi liabilitas klaim adalah                          The changes in estimated claims liability were
           sebagai berikut:                                                    as follows:

                                                  2023                   2022

                                                                                       Balance at the beginning
           Saldo awal tahun                        2.887.196              3.470.326      of the year
           Penurunan estimasi                                                          Decrease in estimated
             liabilitas klaim (Catatan 42)          (108.004)                (935.865)   claims liability (Note 42)
           Kenaikan aset reasuransi                  584.710                  424.217 Increase in reinsurance assets
           Penurunan dana tabarru                   (743.177)                 (71.482) Decrease in tabarru' fund

           Saldo akhir tahun                       2.620.725              2.887.196 Balance at the end of year




 27. Utang Transaksi Efek                                            27. Securities Transaction Payables

                                                  2023                   2022

      Pihak ketiga                                                                     Third parties
        Utang kepada PT Kliring Penjaminan                                               Payable to PT Kliring Penjaminan
          Efek Indonesia                              67.966                  74.132        Efek Indonesia
        Utang komisi                                   9.193                   7.320     Commission payable
        Utang kepada nasabah                           9.182                 390.129     Payable to customers
        Utang kepada perusahaan efek                                                     Payable to other securities
          lainnya                                           -                 46.737        companies

      Jumlah                                          86.341                 518.318 Total




28.   Utang Pajak                                                28. Taxes Payable

                                                  2023                   2022

      Pajak penghasilan                                                              Income taxes
        Pasal 4 (2)                                   19.941                  31.881    Article 4 (2)
        Pasal 29 (Catatan 47)                         25.474                 176.034    Article 29 (Note 47)
        Pasal 21                                      34.003                  18.225    Article 21
        Pasal 25                                      28.405                 141.413    Article 25
        Pasal 23 dan 26                                5.308                   5.365    Article 23 and 26
      Pajak Pertambahan Nilai                          7.191                  12.804 Value Added Tax

      Jumlah                                        120.322                  385.722 Total




                                                           - 123 -
Page 446
 PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
 DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
 Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
 31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
 kecuali dinyatakan lain)                                                                    unless otherwise stated)


 29. Beban Akrual                                                   29. Accrued Expenses

                                                  2023                  2022

      Bunga                                         117.635                  81.664 Interest
      Lain-lain                                     214.546                 209.202 Others

      Jumlah                                        332.181                 290.866 Total


      Lain-lain meliputi biaya-biaya operasional yang                  Others represent accruals of certain operating
      masih harus dibayar.                                             expenses.


30.   Surat Berharga yang Diterbitkan                           30. Securities Issued
                                                  2023                  2022

      Obligasi                                    8.484.950             7.047.981 Bonds
      Biaya transaksi yang belom diamortisasi       (94.646)              (45.478) Unamortized issuance cost

      Jumlah                                      8.390.304             7.002.503 Total



      Obligasi                                                         Bonds

      Perusahaan                                                       The Company

      Pada tanggal 31 Agustus 2020. Perusahaan                         On August 31, 2020, the Company obtained an
      memperoleh Pernyataan Efektif dari Kepala                        Effective Statement from the Chief Executive of the
      Eksekutif Pengawas Pasar Modal Otoritas Jasa                     Capital Market Supervision of the Financial
      Keuangan (OJK) melalui Suratnya No. S-                           Services Authority (OJK) through his letter
      236/D.04/2020 untuk melaksanakan Penawaran                       No. S-236/D.04/2020 for Public Offering of Sinar
      Umum Berkelanjutan I Obligasi Sinar Mas                          Mas Multiartha Continuing Bond I Year 2020 with a
      Multiartha Tahun 2020 dengan jumlah pokok                        maximum principal amount of bonds a maximum of
      obligasi   sebanyak-banyaknya   Rp1.000.000.                     Rp1,000,000. PT Bank Bukopin Tbk act as trustee.
      PT Bank Bukopin Tbk bertindak sebagai wali
      amanat.

      a.   Penarikan Tahap I Tahun 2020 sebesar                        a.    The Phase I Year 2020 withdrawal amounting
           Rp125.000 diterbitkan dalam 3 seri penarikan                      to Rp125,000 is issued in 3 series as follows:
           yaitu:
           1. Obligasi Seri A sebesar Rp55.000 pada                          1.   Series A Bonds amounting to Rp55,000
                tanggal 8 September 2020 dan jatuh                                on September 8, 2020 and mature on
                tempo 13 September 2021 dengan tingkat                            September 13, 2021 with fixed interest
                bunga tetap sebesar 8,00% per tahun                               rate of 8.00% per annum which is payable
                yang terhutang setiap triwulan (Pada                              on a quarterly basis (the Company has
                tahun 2021, Perusahaan telah melunasi                             repaid the Bonds in 2021).
                Obligasi tersebut).
           2. Obligasi Seri B sebesar Rp55.000 pada                          2.   Series B Bonds amounting to Rp55,000
                tanggal 8 September 2020 dan jatuh                                on September 8, 2020 and mature on
                tempo 8 September 2022 dengan tingkat                             September 8, 2022 with fixed interest rate
                bunga tetap sebesar 8,50% per tahun                               of 8.50% per annum which is payable on
                yang terhutang setiap triwulan (Pada                              a quarterly basis (the Company has
                tahun 2022, Perusahaan telah melunasi                             repaid the Bonds in 2022).
                Obligasi tersebut).
           3. Obligasi Seri C sebesar Rp15.000 pada                          3.   Series C Bonds amounting to Rp15,000
                tanggal 8 September 2020 dan jatuh                                on September 8, 2020 and mature on
                tempo 8 September 2023 dengan tingkat                             September 8, 2023 with fixed interest rate
                bunga tetap sebesar 9,00% per tahun                               of 9.00% per annum which is payable on
                yang terhutang setiap triwulan (Pada                              a quarterly basis (the Company has
                tahun 2023, Perusahaan telah melunasi                             repaid the Bonds in 2023).
                Obligasi tersebut).



                                                          - 124 -
Page 447
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


   b.   Pada tanggal 2 Oktober 2020, sesuai dengan                  b.   On October 2, 2020, based on Notarial Deed
        Akta No. 3 dari Aulia Taufani, S.H., notaris di                  No. 3 of Aulia Taufani, S.H., notary in Jakarta,
        Jakarta, Perusahaan menerbitkan Obligasi                         the Company issued Sinar Mas Multiartha Tbk
        Berkelanjutan I Sinar Mas Multiartha Tahap II                    Continuing Bond I Phase II Year 2020.
        Tahun 2020.

        Penarikan Tahap II Tahun 2020 sebesar                            The Phase II Year 2020 withdrawal amounting
        Rp875.000 diterbitkan dalam 2 seri penarikan                     to Rp875,000 is issued in 2 series as follows:
        yaitu:
        1. Obligasi Seri A sebesar Rp1.000 pada                          1. Series A Bonds amounting to Rp1,000 on
             tanggal 11 November 2020 dan jatuh                             November 11, 2020 and matures on
             tempo 11 November 2023 dengan tingkat                          November 11, 2023 with fixed interest rate
             bunga tetap sebesar 9,00% per tahun                            of 9.00% per annum which is payable on a
             yang terhutang setiap triwulan (Pada                           quarterly basis (the Company has repaid
             tahun 2023, Perusahaan telah melunasi                          the Bonds in 2023).
             Obligasi tersebut).
        2. Obligasi Seri B sebesar Rp874.000 pada                        2. Series B Bonds amounting to Rp874,000
             tanggal 11 November 2020 dan jatuh                             on November 11, 2020 and matures on
             tempo 11 November 2025 dengan tingkat                          November 11, 2025 with fixed interest rate
             bunga tetap sebesar 10,25% per tahun                           of 10.25% per annum which is payable on
             yang terhutang setiap triwulan.                                a quarterly basis.

   c.   Pada tanggal 27 Agustus 2021, Perusahaan                    c.   On August 27, 2021, the Company obtained
        memperoleh Pernyataan Efektif dari Kepala                        an Effective Statement from the Chairman of
        Eksekutif Pengawas Pasar Modal Otoritas                          the Capital Market Financial Services Authority
        Jasa Keuangan (OJK) melalui suratnya                             in his Letter No. S-146/D.04/2021 to carry out
        No. S-146/D.04/2021 untuk melaksanakan                           the Public Offering of Sinar Mas Multiartha
        Penawaran Umum Berkelanjutan II Obligasi                         Continuing Bond II Year 2021 with maximum
        Sinar Mas Multiartha Tahun 2021 dengan                           principal amount of Rp5,000,000. PT Bank
        jumlah pokok obligasi sebanyak-banyaknya                         Bukopin Tbk acted as the trustee.
        Rp5.000.000. Dimana PT Bank Bukopin Tbk
        bertindak sebagai wali amanat.

        Penarikan Tahap I Tahun 2021 sebesar                             The Phase I Year 2021 withdrawal amounting
        Rp705.700 diterbitkan dalam 3 seri dengan                        to Rp705,700 is issued in 3 series as follows:
        ketentuan sebagai berikut :
        1. Obligasi Seri A sebesar Rp507.000 pada                        1.   Series A Bonds amounting to Rp507,000
            tanggal 7 September 2021 dan jatuh                                on September 7, 2021 and matures on
            tempo 17 September 2022 dengan tingkat                            September 17, 2022 with fixed interest
            bunga tetap sebesar 6,75% per tahun                               rate 6.75% per annum which is payable
            yang terhutang setiap triwulan (Pada                              on a quarterly basis (the Company has
            tahun 2022, Perusahaan telah melunasi                             repaid the Bonds in 2022).
            Obligasi tersebut).
        2. Obligasi Seri B sebesar Rp79.700 pada                         2.   Series B Bonds amounting to Rp79,700
            tanggal 7 September 2021 dan jatuh                                on September 7, 2021 and matures on
            tempo 7 September 2023 dengan tingkat                             September 7, 2023 with fixed interest rate
            bunga tetap sebesar 8,00% per tahun                               8.00% per annum which is payable on a
            yang terhutang setiap triwulan (Pada                              quarterly basis (the Company has repaid
            tahun 2023, Perusahaan telah melunasi                             the Bonds in 2023).
            Obligasi tersebut).
        3. Obligasi Seri C sebesar Rp119.000 pada                        3.   Series C Bonds amounting to Rp119,000
            tanggal 7 September 2021 dan jatuh                                on September 7, 2021 and matures on
            tempo 7 September 2024 dengan tingkat                             September 7, 2024 with fixed interest rate
            bunga tetap sebesar 8,75% per tahun                               8.75% per annum which is payable on a
            yang terhutang setiap triwulan.                                   quarterly basis.

        Berdasarkan Surat PT Kredit Rating Indonesia                     Based on the letter of PT Kredit Rating
        No. RC-006/KRI-DIR/VI/2021 tanggal 2 Juni                        Indonesia No. RC-006/KRI-DIR/VI/2021 dated
        2021, Obligasi Berkelanjutan II Sinar Mas                        June 2, 2021, the Company’s Sinar Mas
        Multiartha   Tahun      2021     Perusahaan                      Multiartha Continuing Bonds II Year 2021
        memperoleh peringkat irAA (Double A).                            received an irAA (Double A) rating.



                                                          - 125 -
Page 448
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


       Pada tanggal 2 Agustus 2022, sesuai dengan                     On August 2, 2022, according to Deed No. 3
       Akta No. 3 dari Aulia Taufani, S.H., notaris di                from Aulia Taufani, S.H., notary in Jakarta, the
       Jakarta, Perusahaan menerbitkan Obligasi                       Company issued Sinar Mas Multiartha
       Berkelanjutan II Sinar Mas Multiartha Tahap II                 Continuing Bonds II Phase II Year 2022.
       Tahun 2022.

       Penarikan Tahap II Tahun 2022 sebesar                          The Phase II Year 2022 withdrawal amounting
       Rp1.849.581 yang diterbitkan dalam 4 seri                      to Rp1,849,581 is issued in 4 series with the
       dengan ketentuan sebagai berikut:                              following conditions:
       a. Obligasi Seri A sebesar Rp429.350 pada                      a. Series A Bonds amounting to Rp429,350
           tanggal 26 Agustus 2022 dan jatuh tempo                         on August 26, 2022 and due September
           6 September 2023 dengan tingkat bunga                           6, 2023 with a fixed interest rate of 6.75%
           tetap sebesar 6,75% per tahun yang                              per annum which is payable on a quarterly
           terhutang setiap triwulan (Pada tahun                           basis (the Company has repaid the Bonds
           2023, Perusahaan telah melunasi Obligasi                        in 2023).
           tersebut).
       b. Obligasi Seri B sebesar Rp13.100 pada                       b.   Series B Bonds amounting to Rp13,100
           tanggal 26 Agustus 2022 dan jatuh tempo                         on August 26, 2022 and due on August
           26 Agustus 2024 dengan tingkat bunga                            26, 2024 with a fixed interest rate of
           tetap sebesar 8,00% per tahun yang                              8.00% per annum which is payable on a
           terhutang setiap triwulan.                                      quarterly basis.
       c. Obligasi Seri C sebesar Rp305.131 pada                      c.   Series C Bonds amounting to Rp305,131
           tanggal 26 Agustus 2022 dan jatuh tempo                         on August 26, 2022 and maturity on
           26 Agustus 2025 dengan tingkat bunga                            August 26, 2025 with a fixed interest rate
           tetap sebesar 9,00% per tahun yang                              of 9.00% per annum which is payable on
           terhutang setiap triwulan.                                      a quarterly basis.
       d. Obligasi Seri D sebesar Rp1.102.000                         d.   Series     D     Bonds    amounting     to
           pada tanggal 26 Agustus 2022 dan jatuh                          Rp1,102,000 on August 26, 2022 and
           tempo 26 Agustus 2027 dengan tingkat                            matures August 26, 2027 with a fixed
           bunga tetap sebesar 9,75% per tahun                             interest rate of 9.75% per annum which is
           yang terhutang setiap triwulan.                                 payable on a quarterly basis.

           Berdasarkan surat PT Kredit Rating                         Based on PT Kredit Rating Indonesia's letter
           Indonesia No. RTG-001/KRI-DIR/VII/2022                     No. RTG-001/KRI-DIR/VII/2022 dated July 14,
           tanggal 14 Juli 2022 yang juga merupakan                   2022 which is also part of letter No. RC-
           bagian dari surat No. RC-004/KRI-                          004/KRI-DIR/VI/2022 dated June 24, 2022, the
           DIR/VI/2022 tanggal 24 Juni 2022,                          Company's Sinar Mas Multiartha Continuing
           Obligasi Berkelanjutan II Sinar Mas                        Bonds II Year 2022 received an irAA (Double
           Multiartha Tahun 2022 Perusahaan                           A) rating.
           memperoleh peringkat irAA (Double A).

           Pada tanggal 16 September 2022, sesuai                     On September 16, 2022, according to Deed
           dengan Akta No. 29 dari Aulia Taufani,                     No. 29 of Aulia Taufani, S.H., notary in
           S.H., notaris di Jakarta, Perusahaan                       Jakarta, the Company issued Sinar Mas
           menerbitkan Obligasi Berkelanjutan II                      Multiartha Continuing Bonds II Phase III Year
           Sinar Mas Multiartha Tahap III Tahun                       2022.
           2022.

           Penarikan Tahap III Tahun 2022 sebesar                          The Phase III Year 2022 withdrawal
           Rp1.660.000 yang diterbitkan dalam 2 seri                       amounting to Rp1,660,000 is issued in 2
           dengan ketentuan sebagai berikut:                               series with the following conditions:
           a. Obligasi Seri A sebesar Rp580.000                            a. Series A Bonds amounting to
               pada tanggal 4 Oktober 2022 dan                                  Rp580,000 on October 4, 2022 and
               jatuh tempo 4 Oktober 2027 dengan                                falls due on October 4, 2027 with a
               tingkat bunga tetap sebesar 9,75%                                fixed interest rate of 9.75% per
               per tahun yang terhutang setiap                                  annum which is payable on a quarter
               triwulan.                                                        basis.
           b. Obligasi Seri B sebesar Rp1.080.000                          b. Series B Bonds amounting to
               pada tanggal 4 Oktober 2022 dan                                  Rp1,080,000 on October 4, 2022 and
               jatuh tempo 4 Oktober 2032 dengan                                falls due on October 4, 2032 with a
               tingkat bunga tetap sebesar 10,50%                               fixed interest rate of 10.50%% per
               per tahun yang terhutang setiap                                  annum which is payable on a quarter
               triwulan.                                                        basis.

                                                         - 126 -
Page 449
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


            Berdasarkan surat PT Kredit Rating                        Based on PT Kredit Rating Indonesia's letter
            Indonesia No. RTG-001/KRI-DIR/IX/2022                     No.     RTG-001/KRI-DIR/IX/2022        dated
            tanggal 8 September 2022 yang juga                        September 8, 2022 which is also part of letter
            merupakan bagian dari surat No. RC-                       No. RC-004/KRI-DIR/VI/2022 dated June 24,
            004/KRI-DIR/VI/2022 tanggal 24 Juni                       2022, Sinar Mas Multiartha Continuing Bonds
            2022, Obligasi Berkelanjutan II Sinar Mas                 II Year 2021 received an irAA (Double A)
            Multiartha Tahun 2021 Perusahaan                          rating.
            memperoleh peringkat irAA (Double A).

            Pada tanggal 15 Februari 2023, sesuai                     On February 15, 2023, according to Deed No.
            dengan Akta No. 29 dari Aulia Taufani,                    29 of Aulia Taufani, S.H., notary in Jakarta, the
            S.H., notaris di Jakarta, Perusahaan                      Company issued Sinar Mas Multiartha
            menerbitkan Obligasi Berkelanjutan II                     Continuing Bonds II Phase IV Year 2023.
            Sinar Mas Multiartha Tahap IV Tahun
            2023.

            Penarikan Tahap IV Tahun 2023 sebesar                     The Phase IV Year 2023 withdrawal
            Rp784.719 yang diterbitkan pada tanggal                   amounting to Rp784,719 which was issued on
            7 Maret 2023 dan jatuh tempo 7 Maret                      March 7, 2023 and mature on March 7, 2033
            2033 dengan tingkat bunga tetap sebesar                   with a fixed interest rate of 10.50% per annum
            10,50% per tahun yang terhutang setiap                    which is payable on a quarter’s basis.
            triwulan.

            Berdasarkan Surat PT Kredit Rating                        Based on PT Kredit Rating Indonesia's letter
            Indonesia No. RTG-001/KRI-DIR/I/2023                      No.      RTG-001/KRI-DIR/I/2023       dated
            tanggal 25 Januari 2023 yang juga                         January 25, 2023 which is also part of letter
            merupakan bagian dari surat No. RC-                       No. RC-004/KRI-DIR/VI/2022 dated June 24,
            004/KRI-DIR/VI/2022 tanggal 24 Juni                       2022, the Company's Sinar Mas Multiartha
            2022, Obligasi Berkelanjutan II Sinar Mas                 Continuing Bonds II Year 2021 received an
            Multiartha Tahun 2021 Perusahaan                          irAA (Double A) rating.
            memperoleh peringkat irAA (Double A).

            Utang obligasi Perusahaan mencakup                        The Company's bonds payable include
            persyaratan     yang    membatasi     hak                 requirements that limit the Company's rights
            Perusahaan tanpa persetujuan tertulis dari                without written approval from the trustee, will
            waliamanat, tidak akan melakukan hal-hal                  not do things such as obtaining new loans to
            seperti membuat pinjaman baru kepada                      other creditors and/or pledging the Company's
            kreditur lain dan/atau mengagunkan harta                  assets to other parties resulting in the financial
            kekayaan Perusahaan kepada pihak lain                     ratios as stipulated in the Trustee Agreement
            yang mengakibatkan rasio keuangan                         not being fulfilled by the Company and insofar
            sebagaimana diatur dalam Perjanjian                       as it is related to the Company's business
            Perwaliamanatan tidak dapat dipenuhi                      activities.
            oleh     Perusahaan     dan   sepanjang
            sehubungan dengan kegiatan usaha
            Perusahaan.

       SMF                                                            SMF

       a.   Pada tanggal 29 Juni 2018, SMF                            a.   On June 29, 2018, SMF obtained an
            memperoleh Pernyataan Efektif dari                             Effective Statement from the Chief
            Kepala Eksekutif Pengawas Pasar Modal                          Executive of the Financial Services
            Otoritas Jasa Keuangan (OJK) melalui                           Authority     (OJK)    Capital    Market
            Suratnya No. S-95/D.04/2018 untuk                              Supervision through its letter No. S-
            melaksanakan       Penawaran    Umum                           95/D.04/2018 for Public Offering of Sinar
            Berkelanjutan I Obligasi Sinar Mas                             Mas Multifinance Continuing Bond I Year
            Multifinance Tahun 2018 dengan jumlah                          2018 with a maximum principal amount of
            pokok     obligasi  sebanyak-banyaknya                         Rp2,000,000. PT Bank KB Bukopin Tbk
            Rp2.000.000. PT Bank KB Bukopin Tbk                            acts as trustee.
            bertindak sebagai wali amanat.




                                                         - 127 -
Page 450
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


           Obigasi ini dijamin dengan piutang SMF                        These bonds are secured by SMF's
           berupa piutang pembiayaan multiguna                           receivables in the form of multipurpose
           (Catatan 6) dan piutang pembiayaan                            financing receivables (Note 6) and
           modal kerja skema anjak piutang (Catatan                      factoring scheme working capital financing
           8).                                                           receivables (Note 8).

           Penarikan Tahap I Tahun 2018 sebesar                          The Phase I Year 2018 withdrawal
           Rp400.000 yang diterbitkan dalam 3 seri                       amounting to Rp400,000 is issued in 3
           dengan ketentuan sebagai berikut:                             series with the following conditions:
           1. Obligasi Seri A sebesar Rp100.000                          1. Series A Bonds amounting to
               pada tanggal 11 Juli 2018 dan jatuh                            Rp100,000 on July 11, 2018 and
               tempo 21 Juli 2019 dengan tingkat                              matures on July 21, 2019 with a fixed
               bunga tetap sebesar 8% per tahun                               interest rate of 8% per annum which
               yang terhutang setiap triwulan (Pada                           is payable on a quarterly basis (SMF
               tahun 2019, SMF telah melunasi                                 has repaid the Bonds in 2019).
               Obligasi tersebut).
           2. Obligasi Seri B sebesar Rp80.000                           2.   Series B Bonds of Rp80,000 on
               pada tanggal 11 Juli 2018 dan jatuh                            July 11, 2018 and mature on
               tempo 11 Juli 2021 dengan tingkat                              July 11, 2021 with a fixed interest rate
               bunga tetap sebesar 9,75% per tahun                            of 9.75% per annum which is payable
               yang terhutang setiap triwulan (Pada                           on a quarterly basis (SMF has repaid
               tahun 2021, SMF telah melunasi                                 the Bonds in 2021).
               Obligasi tersebut).
           3. Obligasi Seri C sebesar Rp220.000                          3.   Series C Bonds amounting to
               pada tanggal 11 Juli 2018 dan jatuh                            Rp220,000 on July 11 2018 and
               tempo 11 Juli 2023 dengan tingkat                              mature on July 11, 2023 with a fixed
               bunga tetap sebesar 10,25% per                                 interest rate of 10.25% per annum
               tahun yang terhutang setiap triwulan                           which is payable on a quarterly basis
               (Pada tahun 2023, SMF telah                                    (SMF has repaid the Bonds in 2023).
               melunasi Obligasi tersebut).

           Pada tanggal 5 Maret 2019, sesuai                              On March 5, 2019, according to Deed
           dengan Akta No. 16 dari Leolin Jayayanti,                      No. 16 from Leolin Jayayanti, S.H.,
           SH., M.Kn, notaris di Jakarta, SMF                             M.Kn, notary in Jakarta, SMF issued
           menerbitkan Obligasi Berkelanjutan I                           Sinar Mas Multifinance Continuing Bond
           Sinar Mas Multifinance Tahap II Tahun                          I Phase II Year 2019.
           2019.
           Penarikan Tahap II Tahun 2019 sebesar                         The Phase II Year 2019 withdrawal
           Rp400.000 yang diterbitkan dalam 2 seri                       amounting of Rp400,000 is issued in 2
           dengan ketentuan sebagai berikut:                             series with the following conditions:
           1. Obligasi Seri A sebesar Rp265.000                          1. Series A Bonds of Rp265,000 on
               pada tanggal 10 April 2019 dan jatuh                         April 10, 2019 and mature on April
               tempo 20 April 2020 dengan tingkat                           20, 2020 with a fixed interest rate of
               bunga tetap sebesar 10% per tahun                            10% per annum which is payable on
               yang terhutang setiap triwulan (Pada                         a quarterly basis (SMF has repaid the
               tahun 2020, SMF telah melunasi                               Bonds in 2020).
               Obligasi tersebut).
           2. Obligasi Seri B sebesar Rp135.000                          2. Series B Bonds of Rp135,000 on
               pada tanggal 10 April 2019 dan jatuh                         April 10, 2019 and mature on April
               tempo 10 April 2022 dengan tingkat                           10, 2022 with a fixed interest rate of
               bunga tetap sebesar 11% per tahun                            11% per annum which is payable on
               yang terhutang setiap triwulan (Pada                         a quarterly basis (SMF has repaid the
               tahun 2022, SMF telah melunasi                               Bonds in 2022).
               Obligasi tersebut).

           Pada tanggal 11 Juli 2019, sesuai dengan                      On July 11, 2019, in accordance with
           Akta No. 35 dari Leolin Jayayanti, SH.,                       Deed No. 35 from Leolin Jayayanti, SH.,
           M.Kn,    notaris   di    Jakarta,   SMF                       M.Kn, notary in Jakarta, SMF issued Sinar
           menerbitkan Obligasi Berkelanjutan I                          Mas Multifinance Continuing Bonds I
           Sinar Mas Multifinance Tahap III Tahun                        Phase III Year 2019.
           2019.


                                                       - 128 -
Page 451
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


            Penarikan Tahap III Tahun 2019 sebesar                        The Phase III Year 2019 withdrawal
            Rp800.000 yang diterbitkan dalam 2 seri                       amounting to Rp800,000 is issued in 2
            dengan ketentuan sebagai berikut:                             series with the following conditions:
            1. Obligasi Seri A sebesar Rp261.000                          1. Series A Bonds amounting to
                pada tanggal 2 Agustus 2019 dan                                Rp261,000 on August 2, 2019 and
                jatuh tempo 12 Agustus 2020 dengan                             mature on August 12, 2020 with a
                tingkat bunga tetap sebesar 10% per                            fixed interest rate of 10% per annum
                tahun yang terhutang setiap triwulan                           which is payable on a quarterly basis
                (Pada tahun 2020, SMF telah                                    (SMF has repaid the Bonds in 2020).
                melunasi Obligasi tersebut).
            2. Obligasi Seri B sebesar Rp539.000                          2.   Series B Bonds of Rp539,000 on
                pada tanggal 2 Agustus 2019 dan                                August 2, 2019 and mature on
                jatuh tempo 2 Agustus 2022 dengan                              August 2, 2022 with a fixed interest
                tingkat bunga tetap sebesar 11% per                            rate of 11% per annum which is
                tahun yang terhutang setiap triwulan                           payable on a quarterly basis (SMF
                (Pada tahun 2022, SMF telah                                    has repaid the Bonds in 2022).
                melunasi Obligasi tersebut).

            Pada tanggal 13 Januari 2020, sesuai                          On January 13, 2020, based on Deed No.
            dengan Akta No. 13 dari Leolin Jayayanti,                     13 from Leolin Jayayanti, S.H., M.Kn,
            SH., M.Kn, notaris di Jakarta, SMF                            notary in Jakarta, SMF issued Sinar Mas
            menerbitkan Obligasi Berkelanjutan I                          Multifinance Continuing Bonds I Phase IV
            Sinar Mas Multifinance Tahap IV Tahun                         Year 2020.
            2020.

            Penarikan Tahap IV Tahun 2020 sebesar                         The Phase IV Year 2020 withdrawal
            Rp400.000 yang diterbitkan dalam 2 seri                       amounting to Rp400,000 is issued in 2
            dengan ketentuan sebagai berikut:                             series with the following conditions:
            1. Obligasi Seri A sebesar Rp150.000                          1. Series A Bonds of Rp150,000 on
                pada tanggal 12 Februari 2020 dan                              February 12, 2020 and mature on
                jatuh tempo 12 Februari 2021 dengan                            February 12, 2021 with a fixed
                tingkat bunga tetap sebesar 9,50%                              interest rate of 9.50% per annum
                per tahun yang terhutang setiap                                which is payable on a quarterly basis
                triwulan (Pada tahun 2021, SMF telah                           (SMF has repaid the Bonds in 2021).
                melunasi Obligasi tersebut).
            2. Obligasi Seri B sebesar Rp250.000                          2.   Series B Bonds amounting to
                pada tanggal 12 Februari 2020 dan                              Rp250,000 on February 12, 2020 and
                jatuh tempo 12 Februari 2023 dengan                            mature on February 12, 2023 with a
                tingkat bunga tetap sebesar 10,50%                             fixed interest rate of 10.50% per
                per tahun yang terhutang setiap                                annum which is payable on a
                triwulan (Pada tahun 2023, SMF telah                           quarterly basis (SMF has repaid the
                melunasi Obligasi tersebut).                                   Bonds in 2023).

       Berdasarkan surat PT Kredit Rating Indonesia                  Based on letter PT Kredit Rating Indonesia’
       No. RTG-012/KRI-DIR/VI/2021 tanggal 14 Juni                   Letter No. RTG-012/KR-DIR/VI/2021, dated on
       2021, Obligasi Berkelanjutan II Sinar Mas                     June 14, 2021 of PT Kredit Rating Indonesia
       Multifinance memperoleh peringkat irA+                        the Sinar Mas Multifinance Continuing Bond II
       (Single A plus).                                              received an irA+ (Single A plus).

       b.   Pada tanggal 13 Juli 2020 SMF                            b.   On July 13, 2020, SMF obtained an
            memperoleh Pernyataan Efektif dari                            Effective Statement from the Chairman of
            Kepala Eksekutif Pengawas Pasar Modal                         the Capital Market Financial Services
            Otoritas Jasa Keuangan (OJK) melalui                          Authority    in  his   Letter   No.     S-
            suratnya No. S-189/D.04/2020 untuk                            189/D.04/2020 for Public Offering of Sinar
            melaksanakan       Penawaran    Umum                          Mas Multifinance Countinuing Bond II
            Berkelanjutan II Obligasi Sinar Mas                           Year 2020 with maximum principal
            Multifinance Tahun 2020 dengan jumlah                         amount of Rp2,000,000.PT Bank KB
            pokok     obligasi  sebanyak-banyaknya                        Bukopin Tbk acted as the trustee.
            Rp2.000.000. PT Bank KB Bukopin Tbk
            bertindak sebagai wali amanat.




                                                        - 129 -
Page 452
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


           Obigasi ini dijamin dengan piutang SMF                        These bonds are secured by SMF’s
           berupa piutang pembiayaan multiguna                           multipurpose financing receivables (Note
           (Catatan 6) dan piutang pembiayaan                            6) and working capital financing with
           modal kerja skema anjak piutang                               factoring scheme receivables (Note 8).
           (Catatan 8).

           Penarikan Tahap I Tahun 2020 sebesar                          The Phase I Year 2020 withdrawal
           Rp708.300 yang diterbitkan dalam 2 seri                       amounting to Rp708,300 is issued in 2
           dengan ketentuan sebagai berikut:                             series with the following conditions:
           1. Obligasi Seri A sebesar Rp207.300                          1. Series A Bonds amounting to
               pada tanggal 17 Juli 2020 dan jatuh                            Rp207,300 on July 17, 2020 and
               tempo 17 Juli 2021 dengan tingkat                              mature on July 17, 2021 with fixed
               bunga tetap sebesar 9,75% per tahun                            interest rate of 9.75% per annum
               yang terhutang setiap triwulan (Pada                           which is payable on a quarterly basis
               tahun 2021, SMF telah melunasi                                 (SMF has repaid the Bonds in 2021).
               Obligasi tersebut).
           2. Obligasi Seri B sebesar Rp501.000                          2.   Series B Bonds amounting to
               pada tanggal 17 Juli 2020 dan jatuh                            Rp501,000 on July 17, 2020 and
               tempo 17 Juli 2025 dengan tingkat                              mature on July 17, 2025 with fixed
               bunga tetap sebesar 11,50% per                                 interest rate of 11.50% per annum
               tahun yang terhutang setiap triwulan.                          which is payable on a quarterly basis.

           Penarikan Tahap II Tahun 2021 sebesar                         The Phase II Year 2021 withdrawal
           Rp732.500 yang diterbitkan dalam 3 seri                       amounting to Rp732,500 is issued in 3
           dengan ketentuan sebagai berikut:                             series with the following conditions:
           1. Obligasi Seri A sebesar Rp348.000                          1. Series A Bonds amounting to
               pada tanggal 11 Februari 2021 dan                              Rp348,000 on February 11, 2021 and
               jatuh tempo 21 Februari 2022 dengan                            mature on February 21, 2022 with
               tingkat bunga tetap sebesar 9,75%                              fixed interest rate of 9.75% per
               per tahun yang terhutang setiap                                annum which is payable on a
               triwulan (Pada tahun 2022, SMF telah                           quarterly basis (SMF has repaid the
               melunasi Obligasi tersebut).                                   Bonds in 2022).
           2. Obligasi Seri B sebesar Rp333.500                          2. Series B Bonds amounting to
               pada tanggal 11 Februari 2021 dan                              Rp333,500 on February 11, 2021 and
               jatuh tempo 11 Februari 2024 dengan                            mature on February 11, 2024 with
               tingkat bunga tetap sebesar 10,50%                             fixed interest rate of 10.50% per
               per tahun yang terhutang setiap                                annum which is payable on a
               triwulan.                                                      quarterly basis.
           3. Obligasi Seri C sebesar Rp51.000                           3. Series C Bonds amounting to
               pada tanggal 11 Februari 2021 dan                              Rp51,000 on February 11, 2021 and
               jatuh tempo 11 Februari 2026 dengan                            mature onFebruary 11, 2026 with
               tingkat bunga tetap sebesar 11,50%                             fixed interest rate of 11.50% per
               per tahun yang terhutang setiap                                annum which is payable on a
               triwulan.                                                      quarterly basis.

           Penarikan Tahap III Tahun 2022 sebesar                        The Phase III Year 2022 withdrawal
           Rp559.200 yang diterbitkan dalam 3 seri                       amounting to Rp559,200 is issued in 3
           dengan ketentuan sebagai berikut:                             series with the following conditions:
           1. Obligasi Seri A sebesar Rp317.700                          1. Series A Bonds amounting to
               pada tanggal 8 Februari 2022 dan                               Rp317,700 on February 8, 2022 and
               jatuh tempo 18 Februari 2023 dengan                            mature on February 18, 2023 with
               tingkat bunga tetap sebesar 7,75%                              fixed interest rate of 7.75% per
               per tahun yang terhutang setiap                                annum which is payable on a
               triwulan (Pada tahun 2023, SMF telah                           quarterly basis (SMF has repaid the
               melunasi Obligasi tersebut).                                   Bonds in 2023).
           2. Obligasi Seri B sebesar Rp232.500                          2. Series B Bonds amounting to
               pada tanggal 8 Februari 2022 dan                               Rp232,500 on February 8, 2022 and
               jatuh tempo 8 Februari 2025 dengan                             mature on February 8, 2025 with
               tingkat bunga tetap sebesar 9,00%                              fixed interest rate of 9.00% per
               per tahun yang terhutang setiap                                annum which is payable on a
               triwulan.                                                      quarterly basis.




                                                       - 130 -
Page 453
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


            3.   Obligasi Seri C sebesar Rp9.000                          3.   Series C Bonds amounting to
                 pada tanggal 8 Februari 2022 dan                              Rp9,000 on February 8, 2022 and
                 jatuh tempo 8 Februari 2027 dengan                            mature on February 8, 2027 with
                 tingkat bunga tetap sebesar 10,50%                            fixed interest rate of 10.50% per
                 per tahun yang terhutang setiap                               annum which is payable on a
                 triwulan.                                                     quarterly basis.

       Berdasarkan surat PT Fitch Ratings Indonesia                  Based on letter PT Fitch Ratings Indonesia’s
       No. 031/DIR/RATLTR/III/2022 tanggal 1 Maret                   Letter No. 031/DIR/RATLTR/III/2022, dated on
       2022, Obligasi Berkelanjutan I Sinar Mas                      March 1, 2022 of PT Fitch Ratings Indonesia,
       Multifinance memperoleh peringkat [Idn] BBB+                  the Sinar Mas Multifinance Continuing Bond I
       (BBB plus).                                                   received an [Idn] BBB+ (BBB plus) rating.

       c.   Pada tanggal 31 Januari 2023, SMF                        c.   On January 31, 2023, SMF obtained an
            memperoleh Pernyataan Efektif dari                            Effective Statement from the Chairman of
            Kepala Eksekutif Pengawas Pasar Modal                         the Capital Market Financial Services
            Otoritas Jasa Keuangan (OJK) melalui                          Authority in his Letter No. S35/D.04/2023
            suratnya No. S35/D.04/2023 untuk                              for Public Offering of Sinar Mas
            melaksanakan       Penawaran    Umum                          Multifinance Continuing Bond III Year
            Berkelanjutan III Obligasi Sinar Mas                          2023 with maximum principal amount of
            Multifinance Tahun 2023 dengan jumlah                         Rp2,000,000. PT Bank KB Bukopin Tbk
            pokok     obligasi  sebanyak-banyaknya                        acted as the trustee.
            Rp2.000.000. PT Bank KB Bukopin Tbk
            bertindak sebagai wali amanat.

            Obligasi ini dijamin dengan piutang SMF                       These bonds are secured by SMF’s
            berupa piutang pembiayaan multiguna                           multipurpose financing receivables (Note
            (Catatan 6) dan piutang pembiayaan                            6) and working capital financing (Note 8).
            modal kerja (Catatan 8).

            Penarikan Tahap I Tahun 2023 sebesar                          The Phase I Year 2023 withdrawal
            Rp1.000.000. yang diterbitkan dalam 3                         amounting to Rp1,000,000 is issued in 3
            seri dengan ketentuan sebagai berikut:                        series with the following conditions:
            1. Obligasi Seri A sebesar Rp42.700                           1. Series A Bonds amounting to
                 pada tanggal 7 Februari 2023 dan                              Rp42,700 on February 7, 2023 and
                 jatuh tempo 17 Juli 2026 dengan                               mature on July 17, 2026 with fixed
                 tingkat bunga tetap sebesar 7,50%                             interest rate of 7.50% per annum
                 per tahun yang terhutang setiap                               which is payable on a quarterly basis.
                 triwulan.
            2. Obligasi Seri B sebesar Rp851.850                          2.   Series B Bonds amounting to
                 pada tanggal 7 Februari 2023 dan                              Rp851,850 on February 7, 2023 and
                 jatuh tempo 7 Februari 2026 dengan                            mature on February 7, 2026 with
                 tingkat bunga tetap sebesar 10,25%                            fixed interest rate of 10.25% per
                 per tahun yang terhutang setiap                               annum which is payable on a
                 triwulan.                                                     quarterly basis.
            3. Obligasi Seri C sebesar Rp105.450                          3.   Series C Bonds amounting to
                 pada tanggal 7 Februari 2023 dan                              Rp105,450 on February 7, 2023 and
                 jatuh tempo 7 Februari 2028 dengan                            mature on February 7, 2028 with
                 tingkat bunga tetap sebesar 10,75%                            fixed interest rate of 10.75% per
                 per tahun yang terhutang setiap                               annum which is payable on a
                 triwulan.                                                     quarterly basis.

            Penarikan Tahap II Tahun 2023 sebesar                         Withdrawal of Phase II Year 2023
            Rp1.000.000 yang diterbitkan dalam 2 seri                     amounting to Rp1,000,000 issued in 2
            dengan ketentuan sebagai berikut:                             series with the following conditions:
            1. Obligasi Seri A sebesar Rp575.000                          1. Series A Bonds amounting to
                pada tanggal 11 Oktober 2023 dan                               Rp575,000 on October 11, 2023 and
                jatuh tempo 11 Oktober 2026 dengan                             mature on October, 2026 with fixed
                tingkat bunga tetap sebesar 10,00%                             interest rate of 10.00% per annum
                per tahun yang terhutang setiap                                which is payable on a quarterly basis.
                triwulan.


                                                        - 131 -
Page 454
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


           2.   Obligasi Seri B sebesar Rp425.000                         2.   Series B Bonds amounting to
                pada tanggal 11 Oktober 2023 dan                               Rp425,000 on October 11, 2023 and
                jatuh tempo 11 Oktober 2028 dengan                             mature on October, 2028 with fixed
                tingkat bunga tetap sebesar 10,50%                             interest rate of 10.50% per annum
                per tahun yang terhutang setiap                                which is payable on a quarterly basis.
                triwulan.

       Seluruh obligasi SMF dijual pada nilai nominal                All the SMF’s bonds were sold at its nominal
       dan tercatat di Bursa Efek Indonesia. Dana                    value and are listed at the Indonesian Stock
       yang diperoleh dari utang obligasi SMF                        Exchange. The proceeds of the SMF’s bonds
       digunakan untuk modal kerja, investasi dan                    payable is used for working capital, investment
       multiguna. SMF tidak menyelenggarakan                         and multipurposes. SMF is not required to put
       pencadangan dana untuk seluruh utang                          up a sinking fund for all the SMF’s bonds
       obligasi SMF. Seluruh utang obligasi SMF                      payable. All of the Company’s bonds payable
       dijamin dengan piutang pembiayaan. Namun                      are fiduciary secured by financing receivables.
       jika hasil pemeringkatan lebih rendah dari A-                 However, if the rating result is lower than A-
       (single A minus), maka SMF wajib                              (single A minus), then the SMF is required to
       menyisihkan dana yang sama nilainya dengan                    set aside funds equal in value to interest for
       bunga untuk satu periode (triwulan) yang                      one period (quarterly) which is placed in the
       ditempatkan dalam bentuk deposito pada bank                   form of deposits at a bank determined by the
       yang ditentukan oleh Wali Amanat dan SMF                      Trustee and SMF no later than 14 (fourteen)
       paling lambat 14 (empat belas) Hari Kalender                  Calendar Days after the issuance of the rating
       setelah     keluarnya  hasil   pemeringkatan                  results and the deposit is blocked by the
       tersebut dan deposito tersebut diblokir oleh                  Trustee.
       Wali Amanat.

       Berdasarkan surat PT Kredit Rating Indonesia                  Based on letter No. RC-001/KRI-DIR/XI/2022,
       No.      RC-001/KRI-DIR/XI/2022,     tanggal                  dated on November 7, 2022 of PT Kredit
       7 November 2022, Obligasi Berkelanjutan II                    Rating Indonesia the Sinar Mas Multifinance
       Sinar Mas Multifinance memperoleh peringkat                   Continuing Bond II received an irA+ (Single A
       irA+ (Single A plus).                                         plus) rating.

       Berdasarkan surat PT Kredit Rating Indonesia                  Based on letter PT Kredit Rating Indonesia’s
       No. RTG-012/KRI-DIR/VI/2021 tanggal 14 Juni                   Letter No. RTG-012/KR-DIR/VI/2021, dated on
       2021, Obligasi Berkelanjutan II Sinar Mas                     June 14, 2021 of PT Kredit Rating Indonesia
       Multifinance memperoleh peringkat irA+                        the Sinar Mas Multifinance Continuing Bond II
       (Single A plus).                                              received an irA+ (Single A plus) rating.

       Berdasarkan surat PT Kredit Rating Indonesia                  Based on letter PT Kredit Rating Indonesia
       No.    RC-001/KRI-DIR/XI/2022         tanggal                 letter No. No. RC-001/KRIDIR/XI/2022, dated
       7 November 2022, Obligasi Berkelanjutan II                    on November 7, 2022 of PT Kredit Rating
       Sinar   Mas     Multifinance     Perusahaan                   Indonesia the Company’s Sinar Mas
       memperoleh peringkat irA+ (Single A plus).                    Multifinance Continuing Bond II received an
                                                                     irA+ (Single A plus) rating.

       Utang obligasi SMF mencakup persyaratan                       The      SMF’s     bonds     payable     include
       yang membatasi hak SMF tanpa persetujuan                      requirements that limit the SMF’s rights without
       dari pemegang obligasi, antara lain melakukan                 prior approval from Bondholders, among
       penggabungan      atau     peleburan      atau                others conduct mergers or consolidation or
       pengambilalihan perusahaan lain, mengubah                     acquisition with other companies, to changes
       kegiatan usaha, melakukan pembayaran                          business activity, payment to shareholders of
       kepada pemegang saham SMF jika SMF lalai                      SMF if SMF negligence in paying the amount
       dalam     melakukan    pembayaran       jumlah                owed, to provide loans to the affiliates or third
       terutang, memberikan pinjaman kepada pihak                    parties except as stated in OJK’s regulation
       berelasi atau pihak ketiga kecuali dilakukan                  No. 29/POJK.05/2014, transfer/ pledge the
       sebagaimana yang tercantum dalam Peraturan                    SMF’s assets, to reduce capital stock and/or
       OJK No. 29/POJK.05/2014, mengalihkan/                         paid-up capital stock, issue bonds or other
       menjaminkan harta SMF, mengurangi modal                       similar instruments. Besides, the SMF is
       dasar dan/atau modal ditempatkan/disetor,                     required to maintain certain financial ratios as
       melakukan     pengeluaran     obligasi    atau                follows:
       instrumen lain yang sejenis. Disamping itu,
       SMF diwajibkan untuk memelihara rasio
       keuangan sebagai berikut:

                                                        - 132 -
Page 455
PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                             AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                       Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                             For the Years Ended
31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                unless otherwise stated)


       •   Rasio lancar minimal 1 kali.                              •      Current ratio equal to but not lower than 1
                                                                            time.
       •   Rasio utang terhadap ekuitas maksimal                     •      Debt to equity ratio not more than 10
           10 kali.                                                         times.

       Pada tanggal 31 Desember 2023 dan 2022,                       As at December 31, 2023 and 2022, the ratios
       rasio-rasio tersebut adalah sebagai berikut                   follows (unaudited):
       (tidak diaudit):

                                              2023                2022

       Rasio lancar                                    2,60               1,30 Current ratio
       Rasio utang terhadap ekuitas                    3,70               4,98 Debt to equity

       SMF dapat membeli kembali (buy back) atau                     SMF can buy back or sell part or all of the
       menjual Obligasi baik seluruhnya maupun                       Bonds issued in the market. Buyback can be
       sebagian di pasar terbuka. Pembelian kembali                  made at any time after one (1) year, after the
       dapat dilakukan setiap saat setelah 1 (satu)                  Date of Allotment as mentioned in the
       tahun     setelah     Tanggal    Penjatahan                   Prospectus.
       sebagaimana disebutkan dalam Prospektus.

       ABSM                                                          ABSM

       Pada tanggal 28 Agustus 2020, ABSM                            On August 28, 2020, ABSM obtained an
       memperoleh Pernyataan Efektif dari Kepala                     Effective Letter from the Chairman of the
       Eksekutif Pengawas Pasar Modal Otoritas                       Capital Market Financial Services Authority in
       Jasa Keuangan (OJK) melalui suratnya No. S-                   his Letter No. S-228/D.04/2020 for Public
       228/D.04/2020        untuk     melaksanakan                   Offering of AB Sinar Mas Multifinance
       Penawaran Umum Obligasi AB Sinar Mas                          Countinuing Bond I Year 2020 with maximum
       Multifinance I Tahun 2020 dengan jumlah                       principal amount of Rp175,000. PT Bank KB
       pokok       obligasi     sebanyak-banyaknya                   Bukopin Tbk acted as the trustee.
       Rp175.000. PT Bank KB Bukopin Tbk berindak
       sebagai wali amanat.

       Utang obligasi ini diterbitkan dalam 3 seri                   The bonds payable are issued in 3 (three)
       dengan ketentuan sebagai berikut:                             series with the following conditions:
       a. Obligasi Seri A sebesar Rp115.000 pada                     a. Bonds Series A amounting to Rp115,000
           tanggal 5 September 2020 dan jangka                            on September 5, 2020 and term of 370
           waktu 370 hari dengan tingkat bunga                            days with fixed interest rate of 10% per
           tetap sebesar 10% per tahun yang                               annum which is payable on a quarterly
           terhutang setiap triwulan (Pada tahun                          basis (ABSM has repaid the Bonds in
           2021, ABSM telah melunasi Obligasi                             2021).
           tersebut).
       b. Obligasi Seri B sebesar Rp25.000 pada                      b.     Bonds Series B amounting to Rp25,000
           tanggal 5 September 2020 dan jangka                              on September 5, 2020 and term of 2 (two)
           waktu 2 (dua) tahun dengan tingkat bunga                         years with fixed interest rate of 10.5% per
           tetap sebesar 10,5% per tahun yang                               annum which is payable on a quarterly
           terhutang setiap triwulan (Pada tahun                            basis (ABSM has repaid the Bonds in
           2022, ABSM telah melunasi Obligasi                               2022).
           tersebut).
       c. Obligasi Seri C sebesar Rp35.000 pada                      c.     Bonds Series C amounting to Rp35,000
           tanggal 5 September 2020 dan jangka                              on September 5, 2020 and term of 3
           waktu 3 (tiga) tahun dengan tingkat bunga                        (three) years with fixed interest rate of
           tetap sebesar 11% per tahun yang                                 11% per annum which is payable on a
           terhutang setiap triwulan (Pada tahun                            quarterly basis (ABSM has repaid the
           2023, ABSM telah melunasi Obligasi                               Bonds in 2023).
           tersebut).




                                                        - 133 -
Page 456
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


       Seluruh obligasi ABSM dijual pada nilai                      All ABSM’s bonds were sold at its nominal
       nominal dan tercatat di Bursa Efek Indonesia.                value and are listed at the Indonesian Stock
       Dana yang diperoleh dari utang obligasi ABSM                 Exchange. The proceeds of the ABSM’s bonds
       digunakan untuk modal kerja, investasi dan                   payable is used for working capital, investment
       multiguna. ABSM tidak menyelenggarakan                       and multipurposes. ABSM is not required to
       pencadangan dana untuk seluruh utang                         put up a sinking fund for all the its bonds
       obligasi ABSM. Seluruh utang obligasi ABSM                   payable. All of the ABSM bonds payable are
       dijamin dengan piutang pembiayaan.                           fiduciary secured by financing receivables.

       ABSM dapat membeli kembali atau menjual                      ABSM can buy back or sell part or all of the
       Obligasi baik seluruhnya maupun sebagian di                  Bonds issued in the market. The buy back can
       pasar terbuka. Pembelian kembali dapat                       be made at any time after one (1) year after
       dilakukan setiap saat setelah 1 (satu) tahun                 the Date of Allotment as mentioned in the
       setelah Tanggal Penjatahan sebagaimana                       Prospectus.
       disebutkan dalam Prospektus.

       Berdasarkan surat PT Kredit Rating Indonesia                 Based on letter PT Kredit Rating Indonesia
       No. RC-059/KRI-DIR/V/2020 tanggal 14 Mei                     No. RC-059/KRI-DIR/V/2020 dated May 14,
       2020, Obligasi AB Sinar Mas Multifinance I                   2020, the AB Sinar Mas Multifinance Bond I
       tahun 2020, memperoleh peringkat irA- (Single                year 2020 received on irA- (Single A minus)
       A minus).                                                    rating.

       Pada tanggal 31 Desember 2023 dan 2022,                      As at December 31, 2023 and 2022, These
       pembatasan tersebut adalah sebagai berikut                   covenants are as follows (unaudited):
       (tidak diaudit):
       a. Membuat pinjaman baru kepada kreditur                     a.   Making new loans to other creditors and
            lain dan mengagunkan kekayaan ABSM                           pledging ABSM assets to other parties
            kepada pihak lain yang mengakibatkan                         resulting in unfulfilled the financial ratios;
            rasio keuangan tidak terpenuhi;
       b. Mengubah bidang usaha utama;                              b.   Changing the main line of business;
       c. Mengurangi modal dasar dan modal                          c.   Reduce authorized and paid-up capital;
            disetor;
       d. Mengadakan penggabungan, konsolidasi,                     d.   Conducting      mergers,      consolidations,
            akuisisi yang menyebabkan bubarnya                           acquisitions that result to the dissolution of
            ABSM;                                                        Company.

       Disamping    pembatasan    diatas,   ABSM                    Besides the above covenants, ABSM is
       diwajibkan untuk memelihara rasio keuangan                   required to maintain certain financial ratios.
       tertentu.

       ABSM telah memenuhi kewajiban pembayaran                     ABSM has complied with its principal and
       pokok dan bunga obligasi dengan tepat waktu.                 interest payments on the bonds payable, on a
       Sampai dengan laporan keuangan diterbitkan,                  timely basis. As at the issuance of the financial
       tidak terdapat kewajiban yang telah jatuh                    statements, there are no outstanding liabilities
       tempo yang belum dilunasi oleh ABSM.                         that have not been paid by ABSM.

       BS                                                           BS

       Pada tanggal 29 Juni 2022, BS menerbitkan                    On June 29, 2022, BS issued Bank Sinarmas
       Obligasi Subordinasi Berkelanjutan I Bank                    Phase I Year 2022 Subordinated Sustainable
       Sinarmas Tahap I Tahun 2022 sebesar                          Bonds of Rp500,000. This subordinated bond
       Rp500.000. Obligasi subordinasi ini berjangka                has a term of 5 years and will mature on July
       waktu 5 tahun yang akan jatuh tempo pada                     8, 2027. The interest rate is 6.50% per annum
       tanggal 8 Juli 2027. Tingkat suku bunga                      which is payable on a quarterly basis
       sebesar 6,50% per tahun yang terhutang
       setiap triwulan.




                                                       - 134 -
Page 457
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


       Dana yang diperoleh dari hasil Penawaran                           The funds obtained from the proceeds from
       Umum Berkelanjutan Obligasi Subordinasi                            the Public Offering of the Sustainable
       Berkelanjutan I Bank Sinarmas Tahap I Tahun                        Subordinated Bonds I of Bank Sinarmas
       2022 setelah dikurangi dengan biaya-biaya                          Phase I Year 2022 after deducting the related
       emisi terkait, seluruhnya akan dipergunakan                        issuance costs, will all be used by BS to
       oleh BS untuk memperkuat permodalan yang                           strengthen it’s capital which is calculated as
       diperhitungkan sebagai modal pelengkap (Tier                       supplementary capital (Tier 2) in the context of
       2) dalam rangka mendukung rencana                                  support plans for extending loans with longer
       penyaluran kredit dengan tenor yang lebih                          tenors.
       panjang.

       Pada Desember 2022, BS telah menggunakan                           In December 2022, the Company has used all
       seluruh dana hasil Penawaran Umum                                  of the proceeds from the Public Offering of
       Berkelanjutan Obligasi Subordinasi I untuk                         Subordinated Bonds I for long term lending.
       penyaluran kredit dengan tenor panjang.

       PT BPD Jawa Barat dan Banten Tbk bertindak                         PT BPD Jawa Barat dan Banten Tbk act as
       sebagi Wali Amanat.                                                the Trustee.

       BS wajib mengupayakan tingkat kesehatan                            The Company is required to strive for a
       Perusahaan minimal berada dalam peringkat                          minimum level of soundness of the Company
       komposit 3 (tiga) yang tergolong "Cukup Baik",                     in a composite rating of 3 (three) which is
       sesuai    penilaian    internal   berdasarkan                      classified as "Fairly Good", according to
       ketentuan Otoritas Jasa Keuangan.                                  internal assessment based on the provisions
                                                                          of the Financial Services Authority.

       Berdasarkan Surat PT Kredit Rating Indonesia                       Based on PT Kredit Rating Indonesia Letter
       No. RC-003/KRI-DIR/III/2023 tanggal 24 Maret                       No. RC-003/KRI-DIR//III/2023 dated March 24,
       2023, Obligasi Subordinasi Berkelanjutan I                         2023, Bank Sinarmas Subordinated Bonds I
       Bank Sinarmas Tahap I Tahun 2022                                   Phase I Year 2022 received an irA+ (Single A
       memperoleh peringkat irA+ (Single A Plus)                          Plus) rating for the period March 24, 2023 to
       untuk periode 24 Maret 2023 sampai dengan                          April 1, 2024.
       1 April 2024.


31. Pinjaman yang Diterima                                     31. Loans Received

   Pada tanggal 31 Desember 2023 dan 2022,                           As at December 31, 2023 and 2022, the loans
   pinjaman yang diterima merupakan fasilitas kredit                 received are credit facilities received by SMF and
   yang diterima oleh SMF dan ABSM yang diperoleh                    ABSM obtained from:
   dari:
                                                 2023                 2022

   Pihak ketiga                                                                     Third parties
     PT Bank Mega Tbk                              412.500             1.070.833      PT Bank Mega Tbk
     PT Bank Neo Commerce Tbk                      306.389               593.056      PT Bank Neo Commerce Tbk
     PT Bank Sahabat Sampoerna Tbk                 269.943               356.345      PT Bank Sahabat Sampoerna Tbk
     PT Bank Pan Indonesia Tbk                     244.444               511.111      PT Bank Pan Indonesia Tbk
     PT Bank Central Asia Tbk                      233.333               333.333      PT Bank Central Asia Tbk
     PT Bank Negara Indonesia                                                         PT Bank Negara Indonesia
       (Persero) Tbk                               216.737              223.011          (Persero) Tbk
     PT Bank J Trust Indonesia Tbk                 129.077               40.000       PT Bank J Trust Indonesia Tbk
     PT Bank Danamon Indonesia Tbk                 102.779              301.778       PT Bank Danamon Indonesia Tbk
     PT Bank Victoria International Tbk            100.000              100.000       PT Bank Victoria International Tbk
     PT Bank Ganesha Tbk                            80.000               80.000       PT Bank Ganesha Tbk
     PT Bank Capital Indonesia Tbk                       -               50.000       PT Bank Capital Indonesia Tbk
     PT Bank Mayapada International Tbk                  -               41.667       PT Bank Mayapada International Tbk

   Jumlah                                         2.095.202            3.701.134      Total
   Biaya transaksi yang belum diamortisasi           (8.816)             (14.127)     Unamortized transaction cost.

   Jumlah                                         2.086.386            3.687.007      Total

   Suku bunga pertahun                       3,75% - 11,00%       8,04% - 12,75%      Interest rate per annum




                                                        - 135 -
Page 458
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


   PT Bank Mega Tbk (Bank Mega)                                     PT Bank Mega Tbk (Bank Mega)
   a.   Fasilitas kredit yang diterima SMF adalah                   a.   Loan facility received by SMF are bellow:
        sebagai berikut:
        1. Pada tanggal 9 Maret 2017, SMF                                1.   On March 9, 2017, SMF obtained a
            memperoleh fasilitas kredit modal kerja                           revolving Demand Loan facility for working
            dalam bentuk Demand Loan dari Bank                                capital from Bank Mega, with a maximum
            Mega, dengan jumlah fasilitas maksimum                            facility of Rp125,000 The availability of the
            sebesar Rp125.000 dan bersifat revolving.                         facility is for twelve (12) months. In 2018,
            Fasilitas ini memiliki jangka waktu 12                            the facility is increased to Rp526,000 and
            bulan. Pada tahun 2018, fasilitas ini                             in 2019, the facility is further increased to
            ditingkatkan menjadi Rp526.000 dan pada                           Rp800,000. In 2023, the facility is
            tahun 2019, fasilitas ini ditingkatkan lagi                       decreased to Rp200,000 and will mature
            menjadi Rp800.000. Pada tahun 2023,                               on March 9, 2024.
            fasilitas ini diturunkan menjadi Rp200.000
            dan akan jatuh tempo tanggal 9 Maret
            2024.
        2. Pada tanggal 25 Juli 2019, SMF                                2.   On July 25, 2019, SMF obtained fixed
            memperoleh fasilitas Pinjaman Tetap                               loan facility with maximum facility of
            dengan jumlah maksimum fasilitas                                  Rp300,000. This facility will mature on
            sebesar Rp300.000. Fasilitas ini akan                             July 25, 2023.
            jatuh tempo tanggal 25 Juli 2023.
        3. Pada tanggal 29 Desember 2020, SMF                            3.   On December 29, 2020, SMF obtained
            memperoleh fasilitas Pinjaman Tetap II                            Fixed Loan II facility with maximum facility
            dengan jumlah maksimum fasilitas                                  of Rp250,000. This facility will mature on
            sebesar Rp250.000. Fasilitas ini akan                             March 29, 2024.
            jatuh tempo dalam 29 Maret 2024.
        4. Pada tanggal 9 Maret 2021, SMF                                4.   On March 9, 2021, SMF obtained Fixed
            memperoleh fasilitas Pinjaman Tetap III                           Loan III facility with maximum facility of
            dengan jumlah maksimum fasilitas                                  Rp400,000. This facility will mature on
            sebesar Rp400.000. Fasilitas ini akan                             December 9, 2024.
            jatuh tempo tanggal 9 Desember 2024.
        5. Pada tanggal 14 April 2022, SMF                               5.   On April 14, 2022, SMF obtained a Fixed
            memperoleh fasilitas Pinjaman Tetap IV                            Loan IV facility with a maximum facility of
            dengan jumlah maksimum fasilitas                                  Rp600,000. This facility will mature on
            sebesar Rp600.000. Fasilitas ini akan                             January 14, 2026.
            jatuh tempo tanggal 14 Januari 2026.

   Fasilitas dari Bank Mega dijamin dengan piutang                  The facility from Bank Mega is secured by
   pembiayaan multiguna (Catatan 6) serta jaminan                   multipurpose financing receivables (Note 6) and
   perusahaan dari Perusahaan.                                      corporate guarantee from the Company.

   Pinjaman SMF dari Bank Mega mencakup                             SMF Loans from Bank Mega include requirements
   persyaratan yang membatasi hak SMF tanpa                         that limit SMF’s rights without prior approval from
   persetujuan tertulis dari Bank Mega antara lain                  Bank Mega, among others, conduct or cause the
   untuk melakukan atau menyebabkan dilakukannya                    withdrawal of paid up capital, to change SMF’s
   penarikan modal disetor, mengubah anggaran                       articles of association, to change the line or type of
   dasar SMF, melakukan perubahan bidang atau                       business activity, to file a bankruptcy request or
   jenis kegiatan usahanya, mengajukan permohonan                   postpone the obligation to repay the debt, lends to
   kepailitan atau penundaan kewajiban pembayaran                   other parties, obtain the loans, acts as guarantor,
   utang, memberikan pinjaman kepada pihak lain,                    caus the transfer of SMF's shares to another
   memperoleh pinjaman, mengikatkan diri sebagai                    parties, transferring activity the assets unless in
   penjamin utang, menyebabkan beralihnya saham                     relation with SMF’s business activity, payment of
   SMF kepada pihak lain, mengalihkan aset kecuali                  the loan from shareholders, and early payment of
   dalam rangka kegiatan usaha, melakukan                           debt or other obligations which are not yet
   pembayaran utang pemegang saham, dan                             matured. Other than that, SMF is required to
   melakukan pembayaran dipercepat atas suatu                       maintain certain financial ratios as follows:
   utang atau pembayaran kewajiban lainnya yang
   belum jatuh tempo. Disamping itu, SMF diwajibkan
   untuk memelihara rasio keuangan sebagai berikut:




                                                          - 136 -
Page 459
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


   •    Rasio lancar minimal 1 kali;                                 •      Current ratio equal to but not lower than 1
                                                                            time;
   •    Rasio utang terhadap ekuitas maksimal 10                     •      Debt to equity ratio not more than 10 times;
        kali;
   •    Rasio Non Performing Loan (NPL) dengan                       •      Non Performing Loan (NPL) ratio with overdue
        saldo tunggakan diatas 90 hari tidak melebihi                       balances of more than 90 days shall not
        3% dari jumlah pembiayaan yang disalurkan                           exceed 3% of the amount of financing provided
        SMF.                                                                SMF.

   Pada tanggal 31 Desember 2023 dan 2022, rasio-                    As at December 31, 2023 and 2022, the ratios are
   rasio tersebut adalah sebagai berikut (tidak                      as follows (unaudited):
   diaudit):
                                                 2023                    2022

        Rasio lancar                                      2,13                1,30 Current ratio
        Rasio utang terhadap ekuitas                      3,78                4,98 Debt to equity ratio
        Non Performing Loan (saldo                                                Non Performing Loan (overdue
          tunggakaN diatas 90 hari)                  2,51%                  2,53%     above 90 days)

   b.   Pada tanggal 13 Maret 2019, ABSM                             b.     On March 13, 2019, ABSM obtained a working
        memperoleh fasilitas kredit modal kerja dalam                       capital credit facility in the form of a Demand
        bentuk Demand Loan dari Bank Mega, dengan                           Loan from Bank Mega, with a maximum facility
        jumlah fasilitas maksimum sebesar Rp200.000                         amount of Rp200,000 and is revolving in
        dan bersifat revolving. Fasilitas ini memiliki                      nature. This facility has a term of 12 months.
        jangka waktu 12 bulan. Fasilitas ini telah                          This facility has been extended several times,
        diperpanjang      beberapa     kali,   terakhir                     most recently extended to March 9, 2024. As
        diperpanjang sampai dengan 9 Maret 2024.                            at December 31, 2023 and 2022, the
        Pada tanggal 31 Desember 2023 dan 2022,                             outstanding loan for ABSM from Bank Mega
        saldo pinjaman ABSM dari Bank Mega                                  amounted to Rp200,000.
        sebesar Rp200.000.

        Fasilitas ini dijamin    dengan     piutang                         The facilities are secured by multipurpose
        pembiayaan    multiguna     dan     piutang                         financing receivables and working capital
        pembiayaan modal (Catatan 6 dan 8).                                 financing with factoring scheme receivables
                                                                            (Notes 6 and 8).

        Pinjaman ABSM dari Bank Mega mencakup                               ABSM Loans from Bank Mega include
        persyaratan yang membatasi hak ABSM tanpa                           requirements that limit ABSM's rights without
        persetujuan tertulis dari Bank Mega, antara                         prior approval from Bank Mega, among others,
        lain untuk melakukan atau menyebabkan                               conduct or cause the withdrawal of paid up
        dilakukannya    penarikan    modal    disetor,                      capital, to change ABSM’s Article of
        mengubah anggaran dasar ABSM, melakukan                             Association, to change the line or type of
        perubahan bidang atau jenis kegiatan                                business activity, to file a bankruptcy request
        usahanya, mengajukan permohonan kepailitan                          for postpone the obligation to repay the debt,
        atau penundaan kewajiban pembayaran utang,                          lends to other parties, obtain loans, acts as
        memberikan pinjaman kepada pihak lain,                              cause guarantor, cause the transfer of ABSM's
        memperoleh pinjaman, mengikatkan diri                               shares to another parties, transferring the
        sebagai penjamin utang, menyebabkan                                 assets unless in relation with ABSM’s business
        beralihnya saham ABSM kepada pihak lain,                            activity, payment of the loan from shareholders
        mengalihkan aset kecuali dalam rangka                               and early payment of debt or other obligations
        kegiatan usaha, melakukan pembayaran utang                          which are not yet matured. Other than that,
        pemegang      saham,       dan     melakukan                        ABSM is required to maintain certain financial
        pembayaran dipercepat atas suatu utang atau                         ratios as follows:
        pembayaran kewajiban lainnya yang belum
        jatuh tempo. Disamping itu, ABSM diwajibkan
        untuk memelihara rasio keuangan sebagai
        berikut:




                                                           - 137 -
Page 460
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


        •   Rasio lancar minimal 1 kali;                                   •   Current ratio equal to but not lower than 1
                                                                               time;
        •   Rasio utang terhadap ekuitas maksimal                          •   Debt to equity ratio not more than 10 time;
            10 kali;
        •   Rasio Non Performing Loan (NPL) dengan                         •   Non Performing Loan (NPL) ratio with
            saldo tunggakan diatas 90 hari tidak                               overdue balances of more than 90 days
            melebihi 2% dari jumlah pembiayaan yang                            shall not exceed 2% of the amount of
            disalurkan oleh ABSM.                                              financing provided by ABSM.

   Pada tanggal 31 Desember 2023 dan 2022, rasio-                     As at December 31, 2023 and 2022 the ratios are
   rasio tersebut adalah sebagai berikut (tidak                       as follows (unaudited):
   diaudit):

                                                  2023                2022

   Rasio lancar                                            1,46              1,23 Current ratio
   Rasio utang terhadap ekuitas                            1,43              3,35 Debt to equity ratio
   Non Performing Loan (saldo                                                     Non Performing Loan (overdue
     tunggakan diatas 90 hari)                        0,00%                0,00%    above 90 days)

   PT Bank Pan Indonesia Tbk (Panin)                                  PT Bank Pan Indonesia Tbk (Panin)

   Fasilitas kredit yang diterima SMF adalah sebagai                  Facility loan received by SMF are bellow:
   berikut:

   a.   Fasilitas Pinjaman Tetap IV dengan jumlah                     a.   Non Revolving Fixed Loan IV Facility for
        maksimum fasilitas sebesar Rp400.000 dan                           SMF’s working capital with maximum facility of
        bersifat Non revolving. Fasilitas ini akan jatuh                   Rp400,000. This facility will mature on June
        tempo pada tanggal 30 Juni 2024.                                   30, 2024.
   b.   Fasilitas Pinjaman Tetap V dengan jumlah                      b.   Fixed Loan Facility V with a maximum facility
        maksimum fasilitas sebesar Rp400.000 dan                           amount of Rp400,000 and Non revolving. The
        bersifat Non revolving. Batas waktu penarikan                      deadline for withdrawing this facility is 3
        fasilitas ini adalah 3 bulan dengan jatuh tempo                    months with a maturity date of September 27,
        sampai dengan 27 September 2025.                                   2025.

   Fasilitas ini dijamin secara fidusia dengan piutang                The loan facilities from is fiduciary secured by
   pembiayaan multiguna dan pembiayaan modal                          multipurpose financing receivables and working
   kerja skema anjak piutang (Catatan 6 dan 8), serta                 capital financing with factoring scheme receivables
   jaminan dari Perusahaan.                                           (Notes 6 and 8), and Corporate Guarantee from
                                                                      the Company.

   Pinjaman SMF dari Bank Panin mencakup                              SMF loans from Bank Panin include requirements
   persyaratan yang membatasi hak SMF tanpa                           that limit SMF's rights without prior approval from
   persetujuan tertulis dari Bank Panin antara lain                   Bank Panin, among others, to obtain new loan from
   untuk menerima pinjaman kredit baru dari bank lain                 other banks or from third parties or for securities
   atau pihak ketiga atau menerbitkan surat berharga                  issuance that will cause a violation of financial
   yang dapat menyebabkan dilanggarnya rasio                          ratios on financial covenant, to provide loans or
   keuangan pada financial covenant, memberikan                       credit to SMF’s affiliates (except SMF’s
   pinjaman atau kredit kepada pihak yang memiliki                    employees), to act as guarantors, to change SMF's
   hubungan afiliasi (kecuali karyawan SMF), menjadi                  articles of association, to transfer the assets which
   penjamin, mengubah anggaran dasar SMF,                             have been used as collaterals, to issue new shares
   memindahtangankan          barang-barang     yang                  or sell the outstanding shares, to merge, allowing
   dipergunakan sebagai jaminan, mengeluarkan                         shareholders to withdraw capital and mortgage
   saham-saham baru dan menjual saham-saham                           SMF’s shares.
   yang     telah      ada,     melakukan    merger,
   memperbolehkan pemegang saham untuk menarik
   modalnya dan menggadaikan saham SMF.




                                                            - 138 -
Page 461
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


   Disamping pembatasan diatas, SMF diwajibkan                        Further, SMF is required to maintain debt to equity
   untuk mempertahankan rasio utang terhadap                          ratio not more than 7.5 times and Non Performing
   ekuitas maksimal 7,5 kali dan rasio Non Performing                 Loan (NPL) ratio with overdue balances of more
   Loan (NPL) dengan saldo tunggakan diatas 60 hari                   than 60 days shall not exceed 5%.
   tidak melebihi 5%.

   Pada tanggal 31 Desember 2023 dan 2022, rasio-                     As at December 31, 2023 and 2022, the ratios are
   rasio tersebut adalah sebagai berikut (tidak                       as follows (unaudited):
   diaudit):

                                                    2023                  2022

   Rasio utang terhadap ekuitas                            3,78                4,98 Debt to equity ratio
   Non Performing Loan                                                              Non Performing Loan
     (saldo tunggakan diatas 60 hari)                  4,06%                 3,62%    (overdue above 60 days)

   PT Bank Central Asia Tbk (Bank BCA)                                PT Bank Central Asia Tbk (Bank BCA)

   Pada tanggal 7 April 2021, ABSM memperoleh                         On April 7, 2021, ABSM obtained a working capital
   fasilitas kredit modal kerja dalam bentuk                          credit facility in the form of an Installment Loan
   Installment Loan dari Bank BCA, dengan jumlah                      from Bank BCA, with a maximum facility amounting
   fasilitas maksimum sebesar Rp500.000. Fasilitas                    to Rp500,000. This facility has a term of 60
   ini memiliki jangka waktu 60 bulan.                                months.

   Fasilitas ini dijamin dengan           piutang   sewa              This facility is secured by finance lease receivables
   pembiayaan (Catatan 7).                                            (Note 7).

   Pinjaman dari Bank BCA mencakup persyaratan                        Loan from Bank BCA includes conditions that limit
   yang membatasi hak ABSM tanpa persetujuan                          the ABSM rights without written approval from
   tertulis dari Bank BCA, antara lain untuk                          Bank BCA, among others, to obtain new loans
   memperoleh pinjaman baru dan/atau mengikatkan                      and/or bind themselves as guarantors and pledge
   diri sebagai penjamin dan mengagunkan kekayaan                     ABSM’s assets to other parties, lend money
   ABSM kepada pihak lain, meminjamkan uang                           including but not limited to affiliated companies,
   termasuk tetapi tidak terbatas pada perusahaan                     except in the case of in order to carry out daily
   afiliasi, kecuali dalam rangka menjalankan usaha                   business, invest, participate in or open a new
   sehari-hari, melakukan investasi, penyertaan atau                  business other than the existing business, conduct
   membuka usaha baru selain usaha yang telah ada,                    consolidation, merger, acquisition or dissolution,
   melakukan           peleburan,       penggabungan,                 amend the articles of association (in connection
   pengambilalihan atau pembubaran, mengubah                          with the decrease in capital, purposes and
   anggaran dasar (sehubungan dengan penurunan                        objectives as well as types of business activities,
   modal, maksud dan tujuan serta jenis kegiatan                      composition of the board of directors and the board
   usaha, susunan direksi dan dewan komisaris serta                   of commissioners and shareholders), and distribute
   pemegang saham), serta melakukan pembagian                         dividends unless ABSM is able to meet the
   dividen kecuali ABSM dapat memenuhi rasio                          financial ratios that have been determined:
   keuangan yang telah ditentukan, yaitu:
   -     Rasio Non Performing Loan (NPL) dengan                       •      Non-Performing Loan (NPL) ratio with arrears
         saldo tunggakan diatas 10 hari tidak melebihi                       balance of more than 10 days does not
         5% dari keseluruhan tagihan;                                        exceed 5% of the total receivables;
   -     Gearing Ratio maksimal 8 kali.                               •      Gearing Ratio maximum of 8 times.

   Pada tanggal 31 Desember 2023 dan 2022, rasio-                     As at December 31, 2023 and 2022, the ratios are
   rasio tersebut adalah sebagai berikut (tidak                       as follows (unaudited):
   diaudit):
                                                    2023                  2022

   Non Performing Loan (saldo tunggakan                                             Non Performing Loan (overdue
     diatas 10 hari)                                   0,00%                 0,00%    above 10 days)
   Gearing Ratio                                         1,43                  3,35 Gearing Ratio




                                                            - 139 -
Page 462
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


   PT Bank Danamon             Indonesia    Tbk    (Bank                PT Bank Danamon              Indonesia    Tbk    (Bank
   Danamon)                                                             Danamon)

   Fasilitas kredit yang diterima SMF adalah sebagai                    Loan facility received by SMF are as follows:
   berikut:

   a.   Pada tanggal 15 Juni 2017, SMF memperoleh                       a.     On June 15, 2017, SMF obtained a revolving
        fasilitas kredit modal kerja, dengan jumlah                            loan facility for working capital, with a
        fasilitas maksimum sebesar Rp100.000 dan                               maximum facility of             Rp100,000. The
        bersifat revolving. Fasilitas ini memiliki jangka                      availability of the facility is for 12 months and
        waktu 12 bulan dan telah diperpanjang                                  has been extended several times with latest
        beberapa kali dengan jatuh tempo terakhir                              maturity date of June 15, 2024.
        sampai dengan 15 Juni 2024.
   b.   Pada tanggal 11 November 2021, SMF                              b.     On November 11, 2021, SMF obtained Term
        memperoleh       fasilitas    Kredit     Angsuran                      Installment Credit (KAB) facility for working
        Berjangka (KAB) untuk kredit modal kerja                               capital (specifically consumer finance) with
        (khusus pembiayaan konsumen) dengan                                    maximum facility of Rp300,000. This facility
        jumlah      maksimum         fasilitas     sebesar                     has a maximum withdrawal period of 12
        Rp300.000. Fasilitas ini memiliki jangka waktu                         months from the signing of the credit
        penarikan      maksimal     12       bulan   sejak                     agreement. This facility will mature on
        penandatanganan perjanjian kredit. Fasilitas                           November 11, 2025.
        ini memiliki jatuh tempo hingga 11 November
        2025.

   Fasilitas dari Bank Danamon dijamin dengan                           The facilities are secured by multipurpose financing
   piutang pembiayaan multiguna (Catatan 6), aset                       receivables (Note 6), property and equipment
   tetap (Catatan 18) dan jaminan perusahaan dari                       (Note 18) and corporate guarantee from the
   Perusahaan.                                                          Company.

   Pinjaman dari Bank Danamon mencakup hal-hal                          Loans from Bank Danamon include conditions and
   dan ketentuan yang tidak boleh dilakukan SMF,                        requirements that SMF is not allowed, unless SMF
   kecuali SMF wajib memberitahukan secara tertulis                     has written notify to Bank Danamon within 14
   kepada Danamon dalam waktu paling lambat 14                          working days after the occurance of the events
   hari kerja setelah terjadinya salah satu kejadian                    among others, to obtain the loans from third
   antara lain memperoleh kredit dari pihak ketiga,                     parties, pledge/sell/transfer SMF’s assets other
   menjaminkan/menjual/memindahtangankan harta                          than those related to SMF’s business to third
   kekayaan selain yang terkait dengan usaha SMF                        parties, sell its shares to third parties, diversify its
   kepada pihak ketiga, menjual saham-sahamnya                          business or change the purposes and objectives of
   kepada pihak ketiga, mengadakan deversifikasi                        SMF, merger or consolidation with other
   usahanya atau mengubah maksud dan tujuan                             companies, amend SMF's articles of association,
   SMF, merger atau konsolidasi dengan perusahaan                       pay dividends or other obligations to SMF's
   lain, mengubah anggaran dasar, membayar dividen                      founders and grant corporate guarantee. Other
   atau kewajiban lainnya kepada para pendiri SMF,                      than that, SMF is required to maintain certain
   dan memberikan jaminan perusahaan. Disamping                         financial ratios as follows:
   itu, SMF diwajibkan untuk memelihara rasio
   keuangan sebagai berikut:
   •     Rasio utang terhadap ekuitas maksimal 10                       •      Debt to equity ratio of not more than 10 times ;
         kali;
   •     Rasio Non Performing Loan (NPL) tidak                          •      Non Performing Loan (NPL) ratio shall not
         melebihi 5% untuk saldo tunggakan diatas 90                           exceed 5% for overdue balances above 90
         hari dan 30 hari dari jumlah pembiayaan yang                          days and 30 days of the amount of SMF’s
         disalurkan SMF pada tahun 2023 dan 2022.                              financing in 2023 and 2022, respecively.
   •     Borrowing (on dan off)/NSA maksimum 100%                       •      Borrowing (on and off)/NSA ratio not more
                                                                               than 100%.

   Pada tanggal 31 Desember 2023 dan 2022, rasio-                       As at December 31, 2023 and 2022, the ratios
   rasio tersebut adalah sebagai berikut (tidak                         follows (unaudited):
   diaudit):
                                                    2023                    2022

   Rasio utang terhadap ekuitas                              3,78                4,98 Debt to equity ratio
   Non Performing Loan                                                                Non Performing Loan
     (saldo tunggakan diatas 90 hari)                   2,51%                  2,53%    (overdue above 90 days)
   Borrowing (on dan off)/NSA                           115%                   113% Borrowing (on and off)/NSA


                                                              - 140 -
Page 463
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


   Pada tanggal 31 Desember 2023 dan 2022,                          As at December 31, 2023 and 2022, the Company
   Perusahaan telah memenuhi seluruh kewajiban                      has complied with all requirements as stated in
   yang dipersyaratkan dalam perjanjian pinjaman,                   loan agreements, except borrowing (on+off) / NSA
   kecuali untuk pemenuhan rasio borrowing (on+off) /               ratio on December 31, 2023 and 2022. The
   NSA pada tanggal 31 Desember 2023 dan 2022.                      Company has obtained a notice letter from Bank
   Perusahaan mendapatkan surat pemberitahuan                       Danamon about the covenant breach and the bank
   breach covenant dari Bank Danamon dan                            gives additional requirements. As at December 31,
   memberikan persyaratan tambahan. Hingga                          2023, the Company has fulfilled all of the additional
   tanggal 31 Desember 2023, Perusahaan telah                       requirements requested by Bank Danamon.
   memenuhi seluruh persyaratan tambahan dari
   Bank Danamon.

   PT Bank Sahabat         Sampoerna      Tbk   (Bank               PT Bank Sahabat          Sampoerna      Tbk    (Bank
   Sampoerna)                                                       Sampoerna)

   Fasilitas yang diterima SMF adalah sebagai                       Loan facility loan received by SMF are as follow:
   berikut:
   a. Pada tanggal 18 Juni 2020, SMF memperoleh                     a.   On June 18, 2020, SMF obtained a Non-
        fasilitas kredit modal kerja dari Bank                           revolving loan facility for SMF’s working capital
        Sampoerna,        dengan    jumlah    fasilitas                  from Bank Sampoerna, with a maximum facility
        maksimum sebesar Rp100.000 dan bersifat                          of Rp100,000 and Non-revolving. The facility
        Non-revolving. Fasilitas ini memiliki jangka                     has availabity period of 12 months and will
        waktu pencairan 12 bulan dan akan jatuh                          mature                                        on
        tempo pada tanggal 18 Juni 2025.                                 June 18, 2025.
   b. Pada tanggal 18 Juni 2020, SMF memperoleh                     b.   On June 18, 2020, SMF obtained an Overdraft
        fasilitas Kredit Pinjaman Rekening Koran dari                    loan facility from Bank Sampoerna, with
        Bank Sampoerna, dengan jumlah fasilitas                          maximum facility of Rp150,000. The availability
        sebesar Rp150.000. Fasilitas ini telah                           of the facility is until June 18, 2024.
        diperpanjang dan akan jatuh tempo tanggal 18
        Juni 2024.
   c. Pada tanggal 25 Agsutus 2022, SMF                             c.   On August 25, 2022, SMF obtained a revolving
        memperoleh fasilitas kredit modal kerja,                         working capital credit facility, with a maximum
        dengan jumlah fasilitas maksimum sebesar                         facility amount of Rp150,000. This facility has
        Rp150.000 dan bersifat revolving. Fasilitas ini                  a term of 12 months with maturity date on
        memiliki jangka waktu 12 bulan dengan jatuh                      August 29, 2024.
        tempo terakhir sampai dengan 29 Agustus
        2024.

   Fasilitas dari Bank Sampoerna dijamin dengan                     The facility from Bank Sampoerna is secured by
   piutang pembiayaan multiguna dan piutang sewa                    multipurpose financing receivables and finance
   pembiayaan (Catatan 6 dan 7), serta jaminan                      lease receivables (Notes 6 and 7), and corporate
   perusahaan dari SMF.                                             guarantee from the SMF.
   Pinjaman SMF dari Bank Sampoerna mencakup                        SMF Loans from Bank Sampoerna include
   persyaratan yang membatasi hak SMF tanpa                         requirements that limit SMF's rights without prior
   persetujuan tertulis dari Bank Sampoerna antara                  written approval from Bank Sampoerna, among
   lain untuk mengubah status hukum SMF, akuisisi,                  others, to change the legal status of SMF,
   melikuidasi, meleburkan, mengeluarkan saham-                     acquired, liquidate, merge, to issue new shares or
   saham baru dan menjual saham-saham yang telah                    sell the outstanding shares, causing the transfer of
   ada, memindahtangankan sebagian besar aset,                      SMF’s major assets to another parties, to act as
   mengikatkan diri sebagai penjamin dengan nilai                   guarantors with amount more than 50% from total
   lebih besar dari 50% total aset, mengajukan                      assets, to file a bankruptcy request or postpone the
   permohonan pailit atau permohonan penundaan                      obligation to repay the debt, causing capital
   pembayaran utang, mengakibatkan terjadinya                       expenditure with amount more than 50% from total
   pengeluaran modal dengan nilai lebih besar dari                  assets, to make material agreement that profitable
   50% dari total aset, membuat perjanjian yang                     to Board of Directors, Commisioners, or
   bersifat material yang menguntungkan anggota                     Shareholders, net profit is in surplus. Other than
   Direksi, Komisaris, atau Pemegang Saham, laba                    that, SMF is required to maintain certain financial
   bersih dalam kondisi surplus. Disamping itu, SMF                 ratios as follows:
   diwajibkan untuk memelihara rasio keuangan
   sebagai berikut:
   •    Gearing ratio maksimal 8 kali                               •    Gearing ratio not more than 8 times;
   •    Saldo tunggakan 90 hari (NPL) maksimum 3%                   •    Overdue balance of 90 days (NPL) and 30
        dan tunggakan diatas 30 hari maksimal 8%;                        days shall not exceed 3% and 8%,
                                                                         respectively;



                                                          - 141 -
Page 464
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                    AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                    For the Years Ended
31 Desember 2023 dan 2022                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                   (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                       unless otherwise stated)


   Pada tanggal 31 Desember 2023 dan 2023, rasio-                        As at December 31, 2023 and 2022, the ratios
   rasio tersebut adalah sebagai berikut (tidak                          follows (unaudited):
   diaudit):
                                                  2023                       2022

   Gearing ratio                                           4,24                   4,38 Gearing ratio
   Non Performing Loan                                                                 Non Performing Loan
     diatas 90 hari (NPL) maksimum 3%                 2,51%                     2,53%    90 days (NPL) maximum 3%
     diatas 30 hari maksimum 8%                       7,44%                     5,63%    above 30 days maximum 8%

   Pada tanggal 12 Juli 2023 ABSM memperoleh                             On July 12, 2023, ABSM obtained Overdraft Loan
   kredit Pinjaman Rekening Koran dengan sifat                           facility with a working capital revolving from Bank
   revolving modal kerja dari Bank Sampoerna                             Sampoerna with a maximum facility amount of
   dengan jumlah fasilitas maksimum sebesar                              Rp100,000. This facility has a period of 12 months
   Rp100.000. Fasilitas ini memiliki jangka waktu 12                     (period end as at September 27, 2024).
   bulan (berakhir pada 27 September 2024).

   Fasilitas dari Bank Sampoerna dijamin dengan                          The facility from Bank Sampoerna is secured by
   piutang pembiayaan dan jaminan perusahaan dari                        financing receivables and corporate guarantee
   ABSM (Catatan 6 dan 7).                                               from ABSM (Notes 6 and 7).

   Pinjaman ABSM dari Bank Sampoerna mencakup                            ABSM Loans from Bank Sampoerna include
   persyaratan yang membatasi hak ABSM tanpa                             requirements that limit ABSM's rights without prior
   persetujuan tertulis dari Bank Sampoerna antara                       written approval from Bank Sampoerna, are as
   lain untuk mengubah status anggaran dasar                             follows, conduct change ABSM’s Article of ABSM,
   ABSM, termasuk namun tidak terbatas pada                              including but not limited to changes in capital
   perubahan      struktur    permodalan,      dan/atau                  structure, and/or management, distribute dividends
   pengurus, mendistribusikan dividen kepada para                        to shareholders, receive new and/or additional
   pemegang       saham,     menerima      pembiayaan                    financing and/or loans from other banks or other
   dan/atau pinjaman baru dan/atau tambahan dari                         third parties, if it results in a violation of the
   bank lain atau pihak ketiga lainnya, apabila atas hal                 specified ratios, causing the transfer of ABSM’s
   tersebut mengakibatkan pelanggaran atas rasio-                        major assets to another parties, to act as
   rasio yang ditentukan, mengikatkan diri sebagai                       guarantors with amount more than 50% from total
   penjamin dengan nilai lebih besar dari 50% total                      assets. Other than that, ABSM is required to
   aset, disamping itu, ABSM diwajibkan untuk                            maintain certain financial ratios as follows:
   memelihara rasio keuangan sebagai berikut:
   •    Gearing ratio maksimal 8 kali.                                   •      Gearing ratio maximum of 8 times.
   •    Rasio Non Performing Loan (NPL) dengan                           •      Non performing loan (NPL) ratio with overdue
        saldo tunggakan diatas 90 hari tidak melebihi                           balances of more than 90 days shall not
        2% dari jumlah pembiayaan yang disalurkan                               exceed 2% of the amount of financing
        oleh Perusahaan.                                                        provided by the Company.
   •    Rasio Return-on-Equity minimum 1%.                               •      Return-on-Equity ratio minimum of 1%.
   •    Tidak negative growth dalam 3 bulan terakhir.                    •      No negative growth in the last 3 months.
   •    Tunggakan diatas 30 hari maksimum 10%.                           •      Arrears over 30 days are a maximum of 10%.

   Pada tanggal 31 Desember 2023 rasio-rasio                             As at December 31, 2023 the ratios were as
   tersebut adalah sebagai berikut (tidak diaudit):                      follows (unaudited):
                                                             2023

       Gearing ratio                                                  1,43    Gearing ratio
       Rasio Non Performing Loan                                    0,00%     Non Performing Loan ratio
       Return-on-Equity ratio                                       5,11%     Return-on-Equity ratio

   PT Bank Negara Indonesia (Persero) Tbk (BNI)                          PT Bank Negara Indonesia (Persero) Tbk (BNI)

   SMF memperoleh fasilitas kredit modal kerja dari                     SMF obtained a revolving loan facility for SMF’s
   BNI dengan jumlah maksimum sebesar Rp350.000                         working capital with maximum facility of
   dan bersifat revolving. Batas waktu penarikan                        Rp350,000 from BNI. The availability of the facility
   fasilitas ini adalah 12 bulan. Fasilitas ini telah                   is for twelve (12) months. The facility has been
   diperpanjang beberapa kali, terakhir diperpanjang                    extended several times, the latest is until April 25,
   sampai dengan 25 April 2024.           .                             2024.




                                                            - 142 -
Page 465
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


   Fasilitas kredit dari BNI ini dijamin dengan piutang              The facility is secured by multipurpose financing
   pembiayaan multiguna (Catatan 6) untuk kredit                     receivables of motor vehicles (Note 6) and
   kendaraan bermotor serta jaminan perusahaan dari                  corporate guarantee from the SMF.
   SMF.

   Pinjaman dari BNI mencakup persyaratan yang                       Loan from BNI includes requirements that limit
   membatasi hak SMF tanpa persetujuan tertulis dari                 SMF's right (negative covenants) without prior
   BNI antara lain menyerahkan jaminan yang telah                    written approval from BNI, among others, transfer
   dijaminkan kepada BNI kepada pihak lain,                          of collaterals to other parties which has been
   pembatasan penjaminan jaminan, melakukan                          pledged to BNI, interfinancing between companies
   interfinancing antar perusahaan dalam grup usaha                  in SMF’s group of business, conduct mergers,
   SMF, melakukan merger, akuisisi, dan investasi                    acquisitions, and new investments which are not
   baru yang tidak berkaitan dengan bisnis inti saat                 related to the current core business. Other than
   ini. Disamping itu, SMF diwajibkan untuk                          that, SMF is required to maintain certain financial
   memelihara rasio keuangan sebagai berikut:                        ratios as follows:
   •    Rasio lancar minimal 1 kali;                                 •    Current ratio equal to but not lower than1 time;
   •    Rasio utang terhadap ekuitas maksimal 10                     •    Debt to equity ratio not more than 10 times;
        kali;
   •    Rasio Non Performing Loan (NPL) dengan                       •      Non Performing Loan (NPL) ratio with overdue
        saldo tunggakan diatas 90 hari tidak melebihi                       balances of more than 90 days shall not
        3% dari jumlah pembiayaan yang disalurkan                           exceed 3% of the amount of financing
        SMF.                                                                provided SMF.

   Pada tanggal 31 Desember 2023 dan 2022, rasio-                    As at December 31, 2023 and 2022, the ratios
   rasio tersebut adalah sebagai berikut:                            were as follows:

                                                 2023                    2022

   Rasio lancar                                           2,13                1,30 Current ratio
   Rasio utang terhadap ekuitas                           3,78                4,98 Debt to equity ratio
   Non Performing Loan (saldo tunggakan                                            Non Performing Loan (overdue
     diatas 90 hari)                                 2,51%                  2,53%    above 90 days)

   Pada tanggal 31 Desember 2023 dan 2022, SMF                       As at December 31, 2023 and 2022, SMF has
   telah   memenuhi     seluruh     kewajiban yang                   complied with all obligations required under the
   dipersyaratkan dalam perjanjian pinjaman.                         loan agreement.

   PT Bank Victoria International Tbk (Bank                          PT Bank        Victoria   International   Tbk   (Bank
   Victoria)                                                         Victoria)
   Pada tanggal 22 Agustus 2019, ABSM                                On August 22, 2019, ABSM obtained a revolving
   memperoleh fasilitas kredit modal kerja dalam                     demand loan facility for ABSM’s working capital
   bentuk Demand Loan dari Bank Victoria, dengan                     from Bank Victoria, with a maximum facility of
   jumlah fasilitas maksimum sebesar Rp100.000 dan                   Rp100,000. The availability of the facility is for 12
   bersifat revolving. Fasilitas ini memiliki jangka                 months, and has been extended with maturity date
   waktu 12 bulan, dan telah diperpanjang dengan                     on August 29, 2024.
   jatuh tempo terakhir tanggal 29 Agustus 2024.

   Fasilitas diatas dijamin dengan deposito berjangka                The facilities are secured by time deposits of Bank
   Bank Victoria sebesar Rp100.000 atas Perusahaan                   Victoria amounting to Rp100,000 from PT Sinar
   (Catatan 5).                                                      Mas Multiartha Tbk (Note 5).

   Pinjaman ABSM dari Bank Victoria mencakup                         ABSM Loans from Bank Victoria include
   persyaratan yang membatasi hak ABSM tanpa                         requirements that limit ABSM's rights without prior
   persetujuan tertulis dari Bank Victoria, antara lain              approval from Bank Victoria, among others,
   untuk melakukan merger, akuisisi, mengalihkan                     conduct mergers, acquisitions, transfer the assets
   harta kekayaan ABSM, mengubah susunan                             of ABSM, change the composition of the majority
   pemegang saham mayoritas, membagikan dividen,                     shareholders, distribute dividends, enter into
   melakukan transaksi yang merugikan ABSM,                          transactions which resulted in a loss to ABSM, to
   mengajukan      permohonan       kepailitan    atau               file a bankruptcy request or postpone the obligation
   penundaan      kewajiban     pembayaran      utang,               to repay the debt, lends to other parties, acts as
   memberikan pinjaman kepada pihak lain,                            guarantor and transferring ABSM’s liability to other
   mengikatkan diri sebagai penjamin utang,                          party.
   mengalihkan kepada pihak lain kewajiban ABSM.




                                                           - 143 -
Page 466
PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                  AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                 December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                 (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                     unless otherwise stated)


   PT Bank Ganesha Tbk (Bank Ganesha)                                  PT Bank Ganesha Tbk (Bank Ganesha)

   ABSM memperoleh fasilitas kredit dari Bank                          ABSM obtained credit facilities from Bank Ganesha
   Ganesha sebagai berikut:                                            were as follows:
   a. Fasilitas Fixed Loan 1 (FL-1) sebesar                            a. Fixed Loan 1 (FL-1) facility of Rp40,000 on
      Rp40.000 pada tanggal 17 Mei 2019. Fasilitas                         May 17, 2019. This facility is secured by
      ini dijamin dengan piutang pembiayaan modal                          receivables from working capital financing from
      kerja skema anjak piutang dan aset tetap                             the factoring scheme and assets for rent in the
      untuk disewakan berupa kendaraan (Catatan 8                          form of vehicles (Notes 8 and 18).
      dan 18).
   b. Fasilitas Fixed Loan 2 (FL-2) sebesar                            b.   Fixed Loan 2 (FL-2) facility of Rp40,000 on
      Rp40.000 pada tanggal 27 Juli 2020.                                   July 27, 2020.

   Fasilitas FL-1 dan FL-2 mempunyai jangka waktu                      The FL-1 and FL-2 facilities have a term of 12
   12 bulan dan telah diperpanjang beberapa kali                       months and have been extended several times
   dengan jatuh tempo terakhir 16 Juni 2024.                           with the latest maturity date on June 16, 2024.

   Pinjaman ABSM dari Bank Ganesha mencakup                            ABSM's loan from Bank Ganesha includes
   persyaratan yang membatasi hak ABSM tanpa                           conditions that limit ABSM's rights without written
   persetujuan tertulis dari Bank Ganesha antara lain                  approval from Bank Ganesha, among others, to
   untuk melakukan perubahan modal, pemegang                           make changes to capital, shareholders and
   saham dan pengurus, bertindak sebagai penjamin                      management, act as guarantor for third party debts
   atas utang pihak ketiga dan mengajukan                              and file bankruptcy applications.
   permohonan kepailitan.

   ABSM telah memenuhi liabilitas pembayaran pokok                     ABSM has complied with its principal and interest
   dan bunga atas pinjaman yang diterima, dengan                       payments on the loans received, on a timely basis.
   tepat waktu. Sampai dengan laporan keuangan                         As of the issuance of the financial statements,
   diterbitkan, tidak terdapat liabilitas yang telah jatuh             there are no outstanding liabilities that have not
   tempo yang belum dilunasi oleh ABSM.                                been paid by ABSM.

   ABSM telah mematuhi seluruh persyaratan dalam                       ABSM has complied with all the requirements in
   perjanjian pinjaman yang disebutkan diatas.                         the loan agreement mentioned above.

   PT Bank Neo Commerce Tbk (Bank Neo)                                 PT Bank Neo Commerce Tbk (Bank Neo)

   a.   Pada tanggal 24 Juni 2022, SMF memperoleh                      a.   On June 24, 2022, SMF obtained a credit
        Fasilitas kredit dari Bank Neo dengan rincian                       facility from Bank Neo with the following
        sebagai berikut:                                                    details:
        1. Pinjaman Reguler dengan jumlah fasilitas                         1. Regular Loans with a maximum facility
            maksimum sebesar Rp200.000 dan                                        amount of Rp200,000 and are Executing
            bersifat Executing Revolving. Fasilitas ini                           Revolving in nature. This facility has a
            mempunyai jangka waktu pencairan                                      maximum disbursement period of 12
            maksimal 12 bulan dan akan jatuh tempo                                months and will mature on June 24, 2024.
            tanggal 24 Juni 2024.
        2. Pinjaman Angsuran dengan jumlah                                  2.   Installment Loans with a maximum facility
            fasilitas maksimum sebesar Rp50.000 dan                              of Rp50,000 and are Executing Non
            bersifat     Executing  Non    Revolving.                            Revolving in nature. This facility has a
            Fasilitas ini mempunyai jangka waktu                                 maximum disbursement period of 36
            pencairan maksimal 36 bulan Serta batas                              months and a withdrawal deadline of 3
            waktu penarikan 3 bulan dan akan jatuh                               months and will mature on September 24,
            tempo tanggal 24 September 2025.                                     2025.

        Fasilitas kredit dari Bank Neo dijamin dengan                       The loan facility from Bank Neo are secured by
        piutang pembiayaan multiguna dan piutang                            multipurpose financing receivables and
        pembiayaan modal kerja skema anjak piutang                          working capital financing receivables with a
        (Catatan 6 dan 8) serta jaminan perusahaan                          factoring scheme (Note 6 and 8) as well as
        dari SMF.                                                           corporate guarantees from SMF.




                                                             - 144 -
Page 467
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


        Pinjaman SMF dari Bank Neo mencakup                                SMF's loan from Bank Neo includes
        persyaratan yang membatasi hak SMF tanpa                           requirements that limit SMF's rights without
        persetujuan tertulis dari Bank Neo antara lain                     written approval from Bank Neo, among
        untuk mengubah status hukum SMF, akuisisi,                         others, conduct change the legal status of
        melikuidasi,     meleburkan,     mengeluarkan                      SMF, acquisitions, liquidate, merge, to issue
        saham-saham baru dan menjual saham-                                new shares or sell the outstanding shares,
        saham yang telah ada, memindahtangankan                            causing the transfer of SMF’s major assets to
        sebagian besar aset, mengikatkan diri sebagai                      another parties, to act as guarantors with
        penjamin dengan nilai lebih besar dari 50%                         amount more than 50% from total assets, to
        total aset, mengajukan permohonan pailit atau                      file a bankruptcy request or postpone the
        permohonan penundaan pembayaran utang,                             obligation to repay the debt, causing capital
        mengakibatkan terjadinya pengeluaran modal                         expenditure with amount more than 50% from
        dengan nilai lebih besar dari 50% dari total                       total assets, to make material agreement that
        aset, membuat perjanjian yang bersifat                             profitable to Board of Directors, Commisioners,
        material yang menguntungkan anggota                                or Shareholders. Other than that, SMF is
        Direksi, Komisaris, atau Pemegang Saham.                           required to maintain certain financial ratios as
        Disamping itu, SMF diwajibkan untuk                                follows:
        memelihara rasio keuangan sebagai berikut:
        -    Gearing ratio maksimal 8 kali;                                -   Gearing ratio not more than 8 times;
        -    Saldo tunggakan 90 hari (NPL) maksimum                        -   Overdue balance of 90 days (NPL) shall
             3%;                                                               not exceed 3%;
        -    Total modal terhadap total aset minimal                       -   Total equity to total assets more than
             15%;                                                              15%;
        -    Total piutang pembiayaan dan investasi                        -   Total    financing     and      investment
             terhadap total aset minimal 40%.                                  receivables to total assets more than
                                                                               40%.

        Pada tanggal 31 Desember 2023 dan 2022,                     As at December 31, 2023 and 2022, the ratios are
        rasio-rasio tersebut adalah sebagai berikut                 as follows (unaudited)
        (tidak diaudit)
                                                2023                2022

        Gearing ratio                                    4,24             4,38 Gearing ratio
        Saldo tunggakan diatas 90 hari (NPL)                                   Overdue balance of 90 days (NPL)
          maksimum 3%                               2,51%               2,53%    maximum 3%
        Total modal terhadap total aset            20,93%              16,72% Total equity to total assets
        Total piutang pembiayaan dan                                           Total financing and investment
          investasi terhadap total aset            60,78%              73,23%    receivables to total assets

        Pada tanggal 31 Desember 2023 dan 2022,                            As at December 31, 2023 and 2022, SMF has
        SMF telah memenuhi seluruh kewajiban yang                          complied with all obligations required under
        dipersyaratkan dalam perjanjian pinjaman.                          the loan agreement.

   b.   Pada tanggal 12 Agustus 2022, ABSM                          b. On August 12, 2022, ABSM obtained a regular
        memperoleh fasilitas kredit pinjaman regular –                 – executing revolving credit facility from Bank
        executing revolving dari Bank Neo, dengan                      Neo, with a maximum facility amounting to Rp
        jumlah fasilitas maksimum sebesar Rp                           200,000,000. On December 22, 2022, ABSM
        200.000.000. Pada tanggal 22 Desember 2022                     received an additional facility of Rp
        ABSM mendapatkan tambahan fasilitas                            150,000,000.This facility has a term of 12
        sebesar Rp 150.000.000. Fasilitas ini memiliki                 months and has been extended until August
        jangka waktu 12 bulan dan telah diperpanjang                   12, 2024.
        beberapa kali sampai dengan 12 Agustus
        2024.

        Fasilitas ini dijamin dengan piutang sewa                          This facility is secured by finance lease
        pembiayaan (Catatan 7).                                            receivables (Note 7).




                                                          - 145 -
Page 468
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


       Pinjaman ABSM dari Bank Neo mencakup                                 The ABSM loan from Bank Neo includes
       persyaratan yang membatasi hak ABSM tanpa                            conditions that limit ABSM's rights without
       persetujuan tertulis dari Bank Neo antara lain                       written approval from Bank Neo, including to
       untuk mengubah status hukum ABSM,                                    change ABSM's legal status, acquire, liquidate,
       akuisisi,       melikuidasi,        meleburkan,                      merge, issue new shares and sell existing
       mengeluarkan      saham-saham       baru    dan                      shares, transfer most of the assets, bind
       menjual saham-saham yang telah ada,                                  themselves as guarantors with a value of more
       memindahtangankan sebagian besar aset,                               than 50% of total assets, apply for bankruptcy
       mengikatkan diri sebagai penjamin dengan                             or request for postponement of debt payments,
       nilai lebih besar dari 50% total aset,                               result in capital expenditures with a value of
       mengajukan       permohonan       pailit   atau                      more than 50% of total assets, enter into
       permohonan penundaan pembayaran utang,                               material agreements that benefit members of
       mengakibatkan terjadinya pengeluaran modal                           the Board of Directors, Commissioners, or
       dengan nilai lebih besar dari 50% dari total                         Shareholders. Other than that, ABSM is
       aset, membuat perjanjian yang bersifat                               required to maintain the following financial
       material yang menguntungkan anggota                                  ratios:
       Direksi, Komisaris, atau Pemegang Saham.
       Disamping itu, ABSM diwajibkan untuk
       memelihara rasio keuangan sebagai berikut:
       •    Gearing ratio maksimal 8 kali;                            •     Maximum gearing ratio of 8 times;
       •    Saldo tunggakan 90 hari (NPL) maksimum                    •     Maximum balance of 90 days arrears (NPL) of
            3%;                                                             3%;
       •    Total modal terhadap total aset minimal                   •     Total capital to total assets of at least 15%.
            15%.
       •    Total piutang pembiayaan dan investasi                    •     Total financing and investment receivables to
            terhadap total aset minimal 40%.                                total assets of at least 40%.
       •    Rasio total piutang lancar terhadap total                 •     Total current account receivables to total
            piutang minimal 90%.                                            receivables ratio minimum of 90%.

       Pada tanggal 31 Desember 2023 dan 2022,                        As at December 31, 2023 and 2022, the ratios are
       rasio-rasio tersebut adalah sebagai berikut:                   as follows:

                                                 2023                2022

       Gearing ratio                                      1,43               3,35 Gearing ratio
       Saldo tunggakan diatas 90 hari                                             Overdue balance of 90 days (NPL)
          (NPL) maksimum 3%                          0,00%                 0,00%    maximum of 3%
       Total modal terhadap total aset                40,57               24,13% Total equity to total assets
       Total piutang lancar                                                       Net current receivable to
         terhadap total aset                        69,49%                85,00%    total receivable ratio

       Pada tanggal 31 Desember 2023 dan 2022,                              As at December 31, 2023 and 2022, ABSM
       ABSM telah memenuhi seluruh kewajiban                                has complied with all obligations required
       yang    dipersyaratkan dalam   perjanjian                            under the loan agreement
       pinjaman.

   PT Bank Mayapada International Tbk (Bank                          PT Bank Mayapada International Tbk (Bank
   Mayapada)                                                         Mayapada)

   Pada tanggal 21 Juni 2022, SMF memperoleh                         On June 21, 2022, SMF obtained a credit facility
   fasilitas kredit dari Bank Mayapada, dengan rincian               from Bank Mayapada, with the following details:
   sebagai berikut:
   1. Fasilitas Pinjaman Tetap Angsuran (PTA) Line                   1. Fixed Installment Loan Facility (PTA) Line with
         dengan jumlah maksimum fasilitas sebesar                       a maximum facility amount of Rp50,000 and is
         Rp50.000 dan bersifat Executing. Batas waktu                   Executing in nature. The availability drawdown
         penarikan fasilitas ini adalah 12 bulan dengan                 of the facility is 6 months with maturity date on
         jatuh tempo sampai dengan 21 Juni 2024.                        June 21, 2024. As at December 31, 2023, this
         Pada tanggal 31 Desember 2023, fasilitas ini                   facility is not yet utilized.
         tidak digunakan.




                                                           - 146 -
Page 469
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


   Fasilitas ini dijamin dengan piutang pembiayaan                    This facility is secured by multipurpose financing
   multiguna (Catatan 6).                                             receivables (Note 6).

   Pinjaman SMF dari Bank Mayapada mencakup                           The loan from Bank Mayapada includes conditions
   persyaratan yang membatasi hak SMF tanpa                           that limit the SMF rights without written approval
   persetujuan tertulis dari Bank Mayapada antara lain                from Bank Mayapada, among others, to conduct
   untuk     melakukan       merger,   akuisisi   dan                 mergers, acquisitions and sales/transfers/releases
   penjualan/pemindahtanganan/ melepaskan hak                         the rights on SMF assets, changes to the
   atas harta kekayaan SMF, melakukan perubahan                       management composition and share ownership,
   terhadap susunan manajemen serta perubahan                         distribute cash dividends, acts as a guarantor for
   kepemilikan saham, melakukan pembagian dividen                     other parties and/or guarantee assets, obtain credit
   tunai, mengikat diri sebagai penjamin terhadap                     from other parties, expand or shrinking the
   pihak lain dan/atau menjamin harta kekayaan,                       business that may affect the loan repayment, apply
   memperoleh kredit dalam bentuk apapun dari pihak                   for bankruptcy, and transfer part or all of the rights
   lain, melakukan perluasan atau penyempitan usaha                   and/ or of SMF’s obligations based on credit
   yang dapat mempengaruhi pengembalian jumlah                        agreements to other parties. In addition, SMF is
   utang, mengajukan permohonan kepailitan, serta                     required to maintain NPL ratio with overdue
   mengalihkan sebagian atau seluruh hak dan/atau                     balances of more than 90 days shall not exceed
   kewajiban SMF berdasarkan perjanjian kredit                        5%
   kepada pihak lain. Disamping itu, SMF diwajibkan
   untuk memelihara rasio keuangan berupa saldo
   NPL dengan tunggakan 90 hari maksimum 5%;

   Pada tanggal dan 31 Desember 2023 dan 2022,                        As at December 31, 2023 and 2022, the NPL ratio
   rasio NPL (saldo tunggakan 90 hari) masing-                        (90 days overdue balance) was 2.51% and 2.53%,
   masing sebesar 2,51% dan 2,53%.                                    respectively.

   Pada tanggal 31 Desember 2023, SMF telah                           As at December 31, 2023, SMF has complied with
   memenuhi seluruh kewajiban yang dipersyaratkan                     all obligations required under the loan agreement.
   dalam perjanjian pinjaman.

   PT Bank Jtrust Indonesia Tbk (Bank Jtrust)                         PT Bank Jtrust Indonesia Tbk (Bank Jtrust)

   Pada tanggal 28 Januari 2022, ABSM memperoleh                      On January 28, 2022, ABSM obtained a working
   fasilitas kredit modal kerja dalam bentuk Kredit                   capital credit facility in the form of Credit On
   Atas Permintaan (KAP) dari Bank Jtrust, dengan                     Demand (KAP) from Bank Jtrust, with a maximum
   jumlah fasilitas maksimum sebesar Rp40.000 dan                     facility amount of Rp40,000 and is revolving,
   bersifat revolving, uncommitted, dan advised. Pada                 uncommitted and advised. On January 6, 2023, the
   tanggal 6 Januari 2023 nilai maksimum dari                         maximum facility amount was increased to
   fasilitas ini ditingkatkan menjadi Rp50.000. Fasilitas             Rp50,000.This facility has a term of 12 months,
   ini memiliki jangka waktu 12 bulan, dan telah                      and has been extended with maturity date on
   diperpanjang dengan jatuh tempo terakhir tanggal                   January 28, 2024.
   28 Januari 2024.

   Fasilitas    diatas dijamin dengan piutang                         The above facility is secured by a working capital
   pembiayaan modal kerja skema anjak piutang                         financing receivables factoring scheme (Note 8).
   (Catatan 8).

   Pinjaman ABSM dari Bank Jtrust mencakup                            Loan ABSM from Bank Jtrust includes conditions
   persyaratan yang membatasi hak ABSM tanpa                          that limit ABSM’s rights without written approval
   persetujuan tertulis dari Bank Jtrust, antara lain                 from Bank Jtrust, among others, to amend ABSM’s
   untuk mengubah anggaran dasar ABSM,                                articles of association, bind itself as guarantor of
   mengikatkan diri sebagai penjamin utang,                           debt, conduct dissolution, merge and merge with
   melakukan pembubaran, penggabungan usaha                           other companies approval, change the composition
   dan peleburan dengan perusahaan lain, mengubah                     and amount of shareholder ownership of private
   susunan dan jumlah kepemilikan pemegang saham                      company or controlling shareholder of ABSM,
   perseroan tertutup atau pemegang saham                             providing loans to third parties, acting as guarantor
   pengendali perusahaan memberikan pinjaman                          for the debts of other parties, changing the nature
   kepada pihak ketiga, bertindak sebagai penjamin                    and business activities being carried out, approval
   terhadap utang pihak lain, mengubah sifat dan                      in capital expenditures with a cumulative total value




                                                            - 147 -
Page 470
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


    kegiatan    usaha   yang     sedang     dijalankan,                 of greater than 50% of total assets, apply for
    menyetujui untuk mengakibatkan           terjadinya                 bankruptcy or postponement of debt payment
    pengeluaran modal dengan total kumulatif nilai                      obligations. Other than that, ABSM is required to
    lebih besar dari 50% dari total asset, mengajukan                   maintain the following financial ratios:
    permohonan kepailitan atau penundaan kewajiban
    pembayaran utang. Disamping itu, ABSM
    diwajibkan untuk memelihara rasio keuangan
    sebagai berikut:

    •    Gearing ratio maksimal 10 kali;                                •      Maximum gearing ratio of 10 times;
    •    Rasio Non Performing Loan (NPL) tidak                          •      The ratio of Non Performing Loans (NPL) does
         melebihi 5% dari jumlah pembiayaan yang                               not exceed 5% of the total financing disbursed
         disalurkan oleh ABSM.                                                 by ABSM.

    Pada tanggal 31 Desember 2023 dan 2022, rasio-                      As at December 31, 2023 and 2022, the ratios are
    rasio tersebut adalah sebagai berikut (tidak                        as follows (unaudited):
    diaudit):

                                                 2023                   2022

    Gearing ratio                                      2,14                      3,35 Gearing ratio
    Rasio Non Performing Loan                        0,00%                     0,00% Non performing loan ratio

    Sampai dengan tanggal laporan keuangan                              Up to the date of the consolidated financial
    konsolidasian, Grup telah memenuhi seluruh                          statements, the Group has complied with all
    kewajiban pembayaran bunga dan pokok pinjaman                       obligations to pay interest and loan principal on a
    dengan tepat waktu.                                                 timely manner.

    Batas Maksimum Pemberian Pembiayaan                                 Maximum Financing Lending Limit

    Pada tanggal 31 Desember 2023 dan 2022, tidak                       As at December 31, 2023 and 2022, there is no
    terdapat penyediaan dana kepada pihak berelasi                      provision of funds to related parties and third
    dan pihak ketiga yang melampaui Batas Maksimum                      parties that exceed the maximum financing limit by
    Pemberian Pembiayaan yang diberikan oleh SMF                        SMF and ABSM.
    dan ABSM.

32. Liabilitas Lain-lain                                            32. Other Liabilities
                                                 2023                   2022

    Titipan premi                                  265.306                   285.390 Premium deposits
    Liabilitas segera lainnya yang masih
       harus dibayar                               166.273                   129.064  Immediately payable liabilities
    Setoran jaminan                                158.927                    19.873  Security deposit
    Dana tabarru                                   137.783                   109.618  Tabarru' fund
    Utang zakat                                     13.720                    12.268  Zakah payable
    Estimasi kerugian komitmen                                                        Estimated commitments and
       dan kontinjensi                                7.640                    12.621   contingencies
    Pendapatan diterima dimuka                        7.284                     8.002 Unearned revenues
    Lain-lain                                     1.319.105                 2.665.072 Others

    Jumlah                                        2.076.038                 3.241.908 Total


    Dana tabarru merupakan dana yang dibentuk dari                      Tabarru’ fund is the fund established from
    konstribusi, hasil investasi dan akumulasi surplus                  contribution, investment income, and accumulated
    underwriting dan tabarru yang dialokasikan kembali                  surplus of tabarru’ funds which is re-allocated to
    ke dana tabarru.                                                    tabarru’ fund.

    Perubahan estimasi kerugian komitmen           dan                  The changes in estimated commitments and
    kontinjensi adalah sebagai berikut:                                 contigencies follows:




                                                          - 148 -
Page 471
PT SINAR MAS MULTIARTHA TBK                                                               PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                        AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                        For the Years Ended
31 Desember 2023 dan 2022                                                                       December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                       (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                           unless otherwise stated)


                                                                  2023

                                Tahap 1/          Tahap 2/                  Tahap 3/                Total/
                                Stage 1           Stage 2                   Stage 3                 Total

                                                                                                                  Balance at the beginning
   Saldo awal tahun                  12.567                  32                        22               12.621       of the year
   Pembentukan tahun berjalan             -                   1                        32                   33    Provision for current year
   Pemulihan tahun berjalan          (5.014)                  -                         -               (5.014)   Recovery for current period

                                                                                                                  Balance at the end of
   Saldo akhir tahun                  7.553                  33                        54                7.640      the year


                                                                  2022

                                Tahap 1/          Tahap 2/                  Tahap 3/                Total/
                                Stage 1           Stage 2                   Stage 3                 Total

                                                                                                                  Balance at the beginning
   Saldo awal tahun                  24.184                   -                         49              24.233       of the year
   Pembentukan tahun berjalan                 -              32                          -                  32    Provision for current year
   Pemulihan tahun berjalan        (11.617)                   -                        (27)            (11.644)   Recovery for current year

                                                                                                                  Balance at the end of
   Saldo akhir tahun                 12.567                  32                        22               12.621      the year




33. Kepentingan Nonpengendali atas Aset Bersih                           33. Non Controlling Interests in Net Assets and
    dan Laba (Rugi) Bersih Entitas anak                                      Comprehensive Income (Losses) of the
                                                                             Subsidiaries

   a.   Kepentingan nonpengendali atas aset bersih                          a.     Non controlling interest in net assets of the
        entitas anak                                                               subsidiaries
                                                  2023                      2022

        BS                                        2.251.349                   2.159.692       BS
        PDP                                         221.854                     231.456       PDP
        RLS                                          69.252                      69.252       RLS
        DPI                                           4.739                       7.327       DPI
        AUP                                           1.617                       2.734       AUP
        JTU                                              61                          59       JTU

        Jumlah                                    2.548.872                   2.470.520       Total


   b.   Kepentingan nonpengendali atas laba (rugi)                           b. Non controlling interest in comprehensive
        bersih entitas anak                                                     income (losses) of the subsidiaries
                                                  2023                      2022

        BS                                           33.075                      69.187       BS
        JTU                                               2                           1       JTU
        AUP                                          (1.117)                       (950)      AUP
        DPI                                          (2.588)                     (1.184)      DPI
        PDP                                          (9.603)                     (9.617)      PDP

        Jumlah                                       19.769                      57.437       Total




                                                             - 149 -
Page 472
PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                          unless otherwise stated)


34. Modal Saham                                                      34. Capital Stock

   Susunan      kepemilikan    pemegang       saham                         The share ownership in the Company based on the
   Perusahaan berdasarkan catatan yang dibuat oleh                          records of STG, share registrar, a subsidiary,
   STG, Biro Administrasi Efek, entitas anak, adalah                        follows:
   sebagai berikut:

   Berdasarkan Seri Saham                                                   By Series of Shares:

                                                31 Desember/December 31, 2023 dan/and 2022

                                                                          Nilai Nominal
                                                                            per Saham
                                                                        (dalam Rp penuh)
                                                     Jumlah                   Nominal          Jumlah
                                                  Lembar Saham                 Value        Modal Disetor/
                                                    Number of                per share      Total paid-up
        Jenis saham                %                 Shares                 (in full Rp)    Capital stock               Shares

   Seri A                            2,24%            142.474.368                 5.000             712.372    Seri A
   Seri B                           97,76%          6.225.190.349                   100             622.519    Seri B

   Jumlah                          100,00%          6.367.664.717                                 1.334.891    Total




   Berdasarkan Kepemilikan Pemegang Saham                                   By Ownership Interest:

                                                        31 Desember/December 31, 2023

                                                                       Jumlah
                                                                    Lembar Saham/
                                                                       Number
             Pemegang Saham                            %              of Shares                               Stockholders

   PT Sinar Mas Cakrawala                                42,26%          2.690.977.644 PT Sinar Mas Cakrawala
   Bank of Singapore Limited S/A PT Sinar Mas                                          Bank of Singapore Limited S/A PT Sinar
      Cakrawala                                           9,42%            600.000.000    Mas Cakrawala
   Indra Widjaja                                          0,03%              2.180.600 Indra Widjaja
   Masyarakat (masing-masing di bawah 5%)                48,29%          3.074.506.473 Masyarakat (masing-masing di bawah 5%)

   Jumlah                                               100,00%          6.367.664.717 Jumlah



                                                        31 Desember/December 31, 2022

                                                                       Jumlah
                                                                    Lembar Saham/
                                                                       Number
             Pemegang Saham                            %              of Shares                               Stockholders

   Bank of Singapore Limited S/A PT Sinar Mas                                              Bank of Singapore Limited S/A PT Sinar Mas
      Cakrawala                                          51,12%          3.255.000.000        Cakrawala
   PT Sinar Mas Cakrawala                                 0,16%             10.257.697     PT Sinar Mas Cakrawala
   Indra Widjaja (Komisaris Utama)                        0,03%              2.180.600     Indra Widjaja (Komisaris Utama)
   Ferita (Direktur)                                      0,00%                274.393     Ferita (Direktur)
   Masyarakat (masing-masing di bawah 5%)                48,68%          3.099.952.027     Masyarakat (masing-masing di bawah 5%)

   Jumlah                                               100,00%          6.367.664.717 Jumlah


   Semua saham yang dikeluarkan oleh Perusahaan                             All capital stock issued by the Company (Series A
   (saham Seri A dan Seri B) adalah saham biasa.                            and Series B shares) are common stock.




                                                              - 150 -
Page 473
PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                         unless otherwise stated)


   Manajemen Permodalan                                                    Capital Management

   Tujuan utama dari manajemen permodalan Grup                             The primary objective of the Group’ capital
   adalah    untuk   memastikan    bahwa    Grup                           management is to ensure that it maintains healthy
   mempertahankan rasio modal yang sehat dalam                             capital ratios in order to support its business and
   rangka    mendukung     usaha    bisnis    dan                          maximize shareholder value. The Group is not
   memaksimalkan nilai pemegang saham. Grup tidak                          required to meet any capital requirement.
   diwajibkan untuk memenuhi syarat-syarat modal
   tertentu.

   Grup mengelola struktur modal dan membuat                               The Group manages its capital structure and
   penyesuaian terhadap struktur modal sehubungan                          makes adjustment in light of the changes in
   dengan perubahan kondisi ekonomi. Grup                                  economic conditions. The Group monitors its
   memantau modalnya dengan menggunakan                                    capital using gearing ratio (debt to equity ratio), by
   analisa gearing ratio (rasio utang terhadap modal),                     dividing net debt to capital. Net debt is calculated
   yakni membagi utang bersih terhadap jumlah                              as total borrowings (including short-term and long-
   modal. Utang bersih adalah jumlah utang                                 term) less cash and cash in banks. Total capital is
   (termasuk utang jangka pendek dan jangka                                calculated as equity attributable to the Company’s
   panjang di laporan posisi keuangan konsolidasian)                       stockholders as shown in the consolidated
   dikurangi kas dan bank. Modal adalah ekuitas yang                       statement of financial position.
   dapat diatribusikan kepada pemegang saham
   Perusahaan, yang disajikan dalam laporan posisi
   keuangan konsolidasian.

   Rasio utang bersih terhadap modal pada tanggal                          Ratio of net debt to equity as at December 31,
   31 Desember 2023 dan 2022 adalah sebagai                                2023 and 2022 follows:
   berikut:
                                                     2023                  2022

   Simpanan dan simpanan dari                                                         Deposits and deposits from
     bank lain                                       40.950.205            36.547.511   other banks
   Pinjaman yang diterima                             2.086.386             3.687.007 Loans received
   Surat berharga yang diterbitkan                    8.390.304             7.002.503 Securities issued

   Subtotal                                          51.426.895            47.237.021 Subtotal

   Kas dan bank                                      (9.533.705)            (6.623.632) Cash and cash in banks

   Jumlah - bersih                                   41.893.190            40.613.389 Total - net

   Jumlah ekuitas                                    24.828.546            23.675.060 Total equity

   Rasio utang bersih terhadap                                                          The ratio of net loans and debt
     modal                                             168,73%               171,55%      to equity




35. Tambahan Modal Disetor - Bersih                                   35. Additional Paid-in Capital - Net

   Akun ini terdiri dari agio saham dan biaya emisi                        This account consist of additional paid-in capital
   efek ekuitas pada tanggal 31 Desember 2023 dan                          and share issuance cost as at December 31, 2023
   2022 dengan rincian sebagai berikut:                                    and 2022 with details as follows:

                                                      2023 dan/and 2022

   Agio saham                                                      1.450.716 Additional paid-in capital
   Aset pengampunan pajak                                            106.850 Tax amnesty assets
   Selisih nilai transaksi restrukturisasi entitas                            Difference in value arising from restructuring
     sepengendali                                                     93.484     transactions among entities under common control
   Biaya emisi                                                        (3.530) Shares issuance cost

   Jumlah                                                          1.647.520 Total




                                                            - 151 -
Page 474
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


  a.    Agio saham, terdiri dari:                                     a.   Additional paid-in capital consist of:
                                                  2023 dan/and 2022

        Penawaran umum perdana                                   78.000 Initial public offering
        Penawaran umum terbatas I                              165.750  Limited public offering I
        Penawaran umum terbatas III                              24.783 Limited public offering III
        Konversi waran Seri I                                    49.372 Conversion of Series I warrants
        Konversi waran Seri III                                396.353  Conversion of Series III warrants
        Konversi waran Seri IV                                 175.884  Conversion of Series IV warrants
        Konversi ke modal saham                                (76.500) Conversion to capital stock
                                                                        Public offering without pre-emptive rights
        Penawaran umum non HMETD tahun 2015                     588.014    to the existing shareholders in 2015
                                                                        Public offering without pre-emptive rights to the
        Penawaran umum non HMETD tahun 2016                      49.060    existing shareholders in 2016

        Jumlah                                                1.450.716    Total


   b.   Biaya emisi efek ekuitas berasal dari                          b. Shares issuance cost incurred on Limited
        Penawaran Umum Terbatas I, III dan IV serta                       Public Offering I, III and IV,and public offering
        penawaran umum non HMETD masing-masing                            without pre-emptive rights to the existing
        sebesar Rp904, Rp1.060, Rp1.173, Rp300                            shareholders amounted to Rp904, Rp1,060,
        dan Rp93.                                                         Rp1,173, Rp300, and Rp93, respectively.

   c.   Selisih nilai transaksi restrukturisasi entitas                c. Difference in Value Arising from Restructuring
        sepengendali.                                                     Transactions Among Entities Under Common
                                                                          Control.

   Pada bulan Desember 2006, Perusahaan                               In December 2006, the Company increased its
   menambah setoran modal pada saham AJSM                             investment in AJSM amounting to Rp15,000. The
   sebesar Rp15.000. Penambahan setoran modal                         increase in investment resulted to an increase in
   tersebut     telah   meningkatkan     persentase                   ownership interest of the Company in AJSM from
   kepemilikan Perusahaan pada saham AJSM yaitu                       50.00% to 73.08%, since the other stockholders,
   dari 50,00% menjadi 73,08%, dikarenakan                            namely PT Sinarindo Gerbangmas (SG) and PT
   pemegang saham lainnya yaitu PT Sinarindo                          Sinar Mas Tunggal (SMT) (both companies are
   Gerbangmas (SG) dan PT Sinar Mas Tunggal                           owned by Sinar Mas Group) did not increase their
   (SMT) (merupakan entitas-entitas yang dimiliki oleh                investments. Difference between the transfer price
   Grup Sinar Mas) tidak melakukan penyetoran                         and book value of restructuring transactions among
   modal. Selisih nilai setoran modal Perusahaan                      entities under common control amounting to
   dengan nilai tercatat aset bersih yang diperoleh                   Rp46,028 was recorded in additional paid-in capital
   adalah sebesar Rp46.028 dibukukan sebagai                          account.
   bagian dari tambahan modal disetor.

   Pada bulan Desember 2007, Perusahaan                               In December 2007, the Company increased its
   menambah setoran modal pada saham AJSM                             investment in AJSM amounting to Rp20,000. The
   sebesar Rp20.000. Penambahan setoran modal                         increase in investment resulted to an increase in
   tersebut     telah    meningkatkan      persentase                 ownership interest of the Company in AJSM from
   kepemilikan Perusahaan pada saham AJSM yaitu                       73.08% to 83.33%, since SG and SMT did not
   dari 73,08% menjadi 83,33%, dikarenakan SG dan                     increase their investments. Difference between the
   SMT tidak melakukan penyetoran modal. Selisih                      transfer price and book value of restructuring
   nilai setoran modal Perusahaan dengan nilai                        transactions among entities under common control
   tercatat aset bersih yang diperoleh adalah sebesar                 amounting to Rp47,475 was recorded in additional
   Rp47.475 dibukukan sebagai bagian dari                             paid-in capital account.
   tambahan modal disetor.




                                                          - 152 -
Page 475
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


   Pada tahun 2012, 2011, 2010, 2009 dan 2008,                         In 2012, 2011, 2010, 2009 and 2008, the Company
   Perusahaan menambah setoran modal pada                              increased its investment in JTUM amounting to
   saham JTUM masing-masing sebesar Rp25.000,                          Rp25,000, Rp25,000, Rp15,000, Rp20,000 and
   Rp25.000, Rp15.000, Rp20.000 dan Rp8.000.                           Rp8,000, respectively. The increase in investment
   Penambahan setoran modal tersebut telah                             resulted to an increase in ownership interest of the
   meningkatkan persentase kepemilikan Perusahaan                      Company in JTUM to 99.93% in 2011, 99.90% in
   pada saham JTUM yaitu menjadi sebesar 99,93%                        2010, 99.86% in 2009, 99.67% in 2008, since the
   pada tahun 2011, 99,90% pada tahun 2010,                            other stockholders, PT Kalibesar Raya Utama did
   99,86% pada tahun 2009 dan 99,67% pada tahun                        not increase their investments. Difference between
   2008, dikarenakan pemegang saham lainnya yaitu                      the transfer price and book value of restructuring
   PT Kalibesar Raya Utama tidak melakukan                             transactions among entities under common control
   penyetoran modal. Selisih nilai tercatat aset bersih                amounting to nil, Rp(1), Rp(1), Rp(7) and Rp(10),
   yang diperoleh dengan nilai setoran modal                           respectively, was recorded in additional paid-in
   Perusahaan sebesar nihil, Rp(1), Rp(1), Rp(7) dan                   capital account.
   Rp(10) dibukukan sebagai bagian dari tambahan
   modal disetor.

   Saldo tambahan modal disetor dari transaksi-                        The balance of additional paid-in capital from the
   transaksi diatas pada tanggal 31 Desember 2023                      above transactions as at December 31, 2023 and
   dan 2022 masing-masing adalah sebesar                               2022 amounted to Rp93,484.
   Rp93.484.


36. Komponen Ekuitas Lainnya                                    36. Other Equity Components

   Akun ini merupakan perubahan nilai investasi                        This account represents changes in value of
   Perusahaan sehubungan dengan perubahan                              investments of the Company due to changes in
   ekuitas anak dan entitas asosiasi yang                              equity of the subsidiaries and associated
   menyebabkan perubahan kepemilikan pada PDP,                         companies which resulted from the change in
   AJSM, BS dan OMS serta nilai wajar investasi efek                   the Company’s ownership interest in PDP, AJSM,
   yang belum direalisasi dari ASM, AJSM dan BS.                       BS and OMS, unrealized in fair value of securities
                                                                       from ASM, AJSM and BS.
                                                 2023                  2022

                                                                                    Unrealized gain on change
   Keuntungan dari perubahan nilai wajar efek                                          in fair value of securities
     yang belum direalisasi                        650.296                 594.924     of subsidiaries
   Ekuitas pada penyesuaian penjabaran dari                                         Share in translation adjustment
     entitas anak                                   (24.682)                 7.965     of a subsidiary
   Dampak transaksi entitas anak                                                    Effects of transactions of
     dan entitas asosiasi                                                              subsidiary and associates
     dengan investor lain atau                                                         with other investors or
     kepentingan nonpengendali                     (256.228)              (177.073)    non-controlling interest

   Jumlah                                          369.386                425.816 Total




37. Saldo Laba yang Ditentukan Penggunaannya                        37. Appropriated Retained Earnings

   Pada tanggal 31 Desember 2023 dan 2022, saldo                       As at December 31, 2023 and 2022, outstanding
   laba yang ditentukan penggunaannya masing-                          appropriated retained earnings for general reserve
   masing sebesar Rp791.607. Cadangan umum ini                         amounted to Rp791,607. These general reserve
   dibentuk sehubungan dengan ketentuan Undang-                        are established in connection with Law No.
   Undang No. 40/2007 tanggal 16 Agustus 2007                          40/2007 dated August 16, 2007 about Limited
   tentang Perseroan Terbatas.                                         Company.




                                                          - 153 -
Page 476
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


38. Pendapatan Underwriting Asuransi                              38. Insurance Underwriting Income
                                                2023                  2022

   Premi bruto                                 32.065.750             33.234.323 Gross premiums
   Premi reasuransi                           (13.567.578)            (9.605.629) Reinsurane premiums
   Kenaikan premi belum merupakan                                                 Increase in unearned
     pendapatan (Catatan 26)                     (461.690)              (362.580)    premiums (Note 26)
   Penurunan aset reasuransi                       (1.385)                  (918) Decrease in reinsurance assets

   Jumlah                                      18.035.097             23.265.196 Total




39. Pendapatan Bunga dan Bagi Hasil                               39. Interest and Profit Sharing Income
                                                2023                  2022

   Investasi jangka pendek                      2.626.150              2.399.338 Short-term investments
   Kredit                                       1.863.379              1.887.355 Loans
   Pembiayaan multiguna                           656.005                622.048 Multipurpose financing
   Piutang pembiayaan modal                                                       Working capital financing
      kerja skema anjak piutang                  302.273                 341.093    with factoring scheme
   Deposito berjangka                            228.151                 177.657 Time deposits
   Investasi sewa neto                            77.717                  69.750 Rental investment – net
   Penempatan pada bank lain                      57.431                   7.529 Placement in other banks
   Efek yang dibeli dengan janji                                                  Securities purchased under
      jual kembali                                 39.961                140.839    agreements to resell
   Pinjaman hipotik                                 1.703                 (2.079) Mortgage receivables
   Lain-lain                                            1                     10 Others

   Jumlah                                       5.852.771              5.643.540 Total


   Lain-lain merupakan pendapatan bunga pinjaman                      Others represent policy loan interest income.
   polis.

40. Penjualan                                                     40. Sales

   Akun ini merupakan penjualan mata uang asing                       This account represent sales of foreign currencies
   oleh SMC, entitas anak.                                            by SMC, a subsidiary.

41. Pendapatan Lain-lain                                          41. Other Income

                                                2023                  2022

   Pendapatan dividen                            120.056                  90.150 Dividend income
   Pendapatan pembagian                                                          Underwriting income surplus
     surplus underwriting                          53.144                 77.908    distribution
   Pendapatan jasa bengkel                         87.626                 60.689 Workshop service income
   Pendapatan bunga                                                              Interest income
     - jasa giro                                   46.138                 36.976    - current account
   Pendapatan sewa                                 21.984                 33.429 Rent income
   Pendapatan dari penggantian                                                   Insurance policy printing
     biaya cetak polis                              4.213                  6.039    income Income from
   Pendapatan denda                                 2.148                  3.005    penalties
   Laba penjualan aset tetap                                                     Gain on sale property
     (Catatan 18)                                   1.808                  2.715    and equipment (Note 18)
   Lain-lain                                      (83.084)               337.549 Others

   Jumlah                                        254.033                 648.460 Total


   Lain-lain     meliputi    pendapatan    investasi,                 Others include investment income, outsourcing
   pendapatan      outsourcing,   pendapatan     non                  income, non operating income, subordinated
   operasional, pendapatan bunga subordinasi dan                      interest income and foreign currency.
   selisih kurs.


                                                        - 154 -
Page 477
 PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
 DAN ENTITAS ANAK                                                                                  AND SUBSIDIARIES
 Catatan atas Laporan Keuangan Konsolidasian                            Notes to the Consolidated Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
 31 Desember 2023 dan 2022                                                                 December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                                 (Figures are Presented in Millions Rupiah,
 kecuali dinyatakan lain)                                                                     unless otherwise stated)


42.   Beban Underwriting Asuransi                                   42. Insurance Underwriting Expenses

                                                  2023                  2022

      Klaim bruto                                26.514.015             28.240.465 Gross claims
                                                                                    Increase (decrease) in
      Kenaikan (penurunan) liabilitas                                                  segregated fund contract
        dana pemegang polis unit link            (5.577.988)            (4.967.755)    liabilities - unit link
      Komisi - neto                               1.895.907              2.719.172 Commission - net
      Kenaikan liabilitas manfaat                                                   Increase in liability for
        polis masa depan (Catatan 25)               103.701                 84.174     future policy benefits (Note 25)
      Kenaikan (penurunan) estimasi                                                 Increase (decrease) in estimated
        liabilitas klaim (Catatan 26)              (108.004)              (935.865)    claims liabilities (Note 26)
      Klaim reasuransi                           (6.123.521)            (1.265.825) Reinsurance claims
      Beban underwriting lain                         5.907                  5.885 Other underwriting expenses
      Kenaikan lain-lain                             42.570                 20.620 Increase other

      Jumlah                                     16.752.587             23.900.871 Total




 43. Beban Umum dan Administrasi                                    43. General and Administrative Expenses

                                                  2023                  2022

      Keperluan kantor                              870.640                747.836 Office supplies
      Penyusutan (Catatan 17 dan 18)                421.148                438.118 Depreciation (Notes 17 and 18)
      Listrik, air dan telepon                      199.427                209.160 Electricity, water, and telephone
      Pemasaran dan iklan                           186.377                198.679 Marketing and advertising
      Jasa profesional                               79.514                 81.285 Professional fees
      Imbalan kerja jangka                                                         Defined-benefit post
         panjang                                     31.013                 19.908   employment expense
      Sewa                                           20.278                 23.384 Rental
      Lainnya                                       430.433                315.202 Others

      Jumlah                                      2.238.830              2.033.572 Total


      Lain-lain meliputi beban organisasi, beban                        Others include membership fee, jamsostek
      jamsostek, beban seleksi karyawan, beban                          expense, employee selection expense, bank
      administrasi bank, beban asuransi, beban lisensi,                 administration expense, insurance expense,
      beban terkait dokumen pajak dan biaya Survey.                     license expense, tax-related document expense,
                                                                        and survey expense.


 44. Beban Bunga dan Bagi Hasil                                     44. Interest and Profit Sharing Expenses

                                                  2023                  2022

      Pinjaman yang diterima                      1.102.319                904.126 Loans received
      Simpanan dan simpanan                                                        Deposits and deposits
        dari bank lain                              733.772                629.483   from other banks
      Premi penjaminan                                                             Premiums on Government
        Pemerintah                                   97.424                113.492   guarantee
      Lain-lain                                      39.543                 17.246 Others

      Jumlah                                      1.973.058              1.664.347 Total


      Lain-lain meliputi beban bunga repo dan beban                     Others include interest expenses of repo and
      bunga call money.                                                 interest expenses of call money




                                                          - 155 -
Page 478
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


45. Beban Lain-lain                                            45. Other Expenses

                                                 2023               2022

    Beban pokok jasa bengkel                        31.241             28.560 Direct costs of service center
    Kerugian penjualan AYDA                                                   Loss on sale of foreclosed
      - bersih                                       1.612              3.411    properties - net
    Lain-lain                                      116.629            128.464 Others

    Jumlah                                         149.482            160.435     Total


    Lain-lain meliputi beban IT, kesalahan manusia,                Others include IT Expense, human error, writte of
    beban penghapusan piutang lain-lain, dan beban                 other    receivables    and  corporate    social
    tanggung jawab sosial.                                         responsibility expense.


46. Imbalan Kerja Jangka Panjang                               46. Long Term Employee Benefits Liability

    Mulai tanggal 2 Februari 2021, Grup melakukan                  Starting from February 2, 2021, the Group
    perhitungan liabilitas imbalan kerja jangka                    calculated the employee benefit liabilities based on
    berdasarkan Undang-Undang No. 11 Tahun 2020                    the Law No. 11 of 2020 on Job Creation (the “Job
    tentang Cipta Kerja (“Undang-Undang Cipta Kerja”)              Creation Law”) and Government Regulation No. 35
    dan peraturan Pemerintah No. 35 Tahun 2021                     of 2021 regarding fixed-term employment contract,
    tentang Perjanjian Kerja Waktu Tertentu, Alih                  outsourcing, work time and rest time, and
    Daya, Waktu Kerja dan Waktu Istirahat, dan                     employment termination. Before Government
    Pemutusan Hubungan Kerja. Sebelum Peraturan                    Regulation No. 35 of 2021 was enacted, the
    Pemerintah No. 35 Tahun 2021 diberlakukan,                     calculation of employee benefit liabilities was based
    perhitungan liabilitas imbalan kerja didasarkan                on Law No. 13 of 2003.
    pada Undang-Undang No. 13 Tahun 2003.

    Presiden Republik Indonesia telah menetapkan                   The President of the Republic of Indonesia has
    Peraturan Pemerintah Pengganti Undang-Undang                   issued Government Regulation in Lieu of Law No. 2
    No. 2 Tahun 2022 tentang Cipta Kerja (Perppu                   of 2022 concerning Job Creation (Perppu Cipta
    Cipta Kerja 2/2022) pada tanggal 30 Desember                   Kerja 2/2022) on December 30, 2022 which is the
    2022 yang merupakan pelaksanaan dari Putusan                   implementation of the Constitutional Court Decision
    MK Nomor 91/PUU-XVIII/2020. Dengan berlakunya                  Number 91/PUU-XVIII/2020. With the enactment of
    Perppu ini, UU No. 11/2020 tentang Cipta Kerja                 this Perppu, Law No. 11/2020 concerning Job
    dicabut dan dinyatakan tidak berlaku.                          Creation is repealed and declared invalid.

    Untuk pendanaan imbalan kerja jangka panjang                   To fund these long-term employee benefits, the
    tersebut, Grup menyelenggarakan program dana                   Group operates a defined benefit pension plan for
    pensiun manfaat pasti untuk seluruh karyawan                   all qualified permanent employees. The benefits
    tetap yang memenuhi syarat. Imbalan tersebut                   will be paid at the time the employee retires, is
    akan dibayarkan pada saat karyawan pensiun,                    permanently disabled or is terminated.
    cacat tetap atau diberhentikan.

    Perhitungan aktuaria atas liabilitas imbalan kerja             The actuarial calculation of long-term employee
    jangka panjang adalah berdasarkan laporan                      benefit liabilities is based on the report of an
    aktuaris independen.                                           independent actuary.

    Perusahaan, BS, SMF, SMS dan ASM telah                         The Company, BS, SMF, SMS and ASM has
    menunjuk ASJ untuk mengelola program pensiun                   appointed ASJ to manage the pension program
    tersebut melalui Dana Pensiun Lembaga                          through the Simas Jiwa Financial Institution
    Keuangan Simas Jiwa, yang pendiriannya telah                   Pension Fund, the establishment of which was
    disahkan menurut Keputusan Dewan Komisioner                    approved according to Decision of the Financial
    Otoritas Jasa Keuangan No. KEP-61/NB.1/2018                    Services Authority Commissioner Board No. KEP-
    tanggal 16 Oktober 2018 mengenai Pengesahan                    61/NB.1/2018 dated October 16, 2018 concerning
    atas Peraturan Dana Pensiun dari Dana Pensiun                  Ratification of the Pension Fund Regulation from
    Lembaga Keuangan (DPLK) Simas Jiwa. .                          the Financial Institution Pension Fund (DPLK)
                                                                   Simas Jiwa.



                                                         - 156 -
Page 479
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


   Jumlah-jumlah yang diakui dalam laporan laba rugi                 Amounts recognized in the consolidated statement
   dan penghasilan komprehensif lain konsolidasian                   of profit or loss and other comprehensive income in
   sehubungan dengan imbalan pasti adalah sebagai                    respect of this benefit plans are as follows:
   berikut:

                                                 2023                 2022

   Biaya jasa kini                                 25.898                 28.174 Current service costs
   Biaya bunga neto                                 9.990                 10.593 Net interest expense
   Biaya jasa lalu                                 (4.168)                   (58) Past service cost-vested
   Pendapatan bunga                                (3.616)                 3.013 Interest income
   Penyesuaian aktuaria sebagai                                                   Actuarial adjustments as
      dampak pemisahan karyawan                      2.909                (7.608)   impact of employee separation
   Penyesuaian karena perubahan                                                   Adjustment due to change
     metode atribusi                                     -               (36.961)   attribution method

   Komponen biaya imbalan pasti                                                  Components of defined benefits
     yang diakui di laba rugi                      31.013                 (2.847)  costs recognized in profit or loss
   Pengukuran kembali liabilitas                                                 Remeasurement on the defined
     imbalan pasti yang diakui di                                                  benefit liability recognized in other
     penghasilan komprehensif lain                 (47.926)                6.281   comprehensive income

   Jumlah                                          (16.913)                3.434 Total



   Biaya imbalan pasti untuk tahun berjalan disajikan                Long-term employee benefit expense for during the
   sebagai bagian dari “Beban umum dan                               years is presented as part of “General and
   administrasi” pada laba rugi (Catatan 43).                        administrative expenses” in profit or loss (Note 43).

   Mutasi nilai kini liabilitas imbalan kerja jangka                 Movements of long-term employee benefits liability
   panjang yang diakui di laporan posisi keuangan                    are as follows:
   konsolidasian adalah sebagai berikut:
                                                 2023                 2022

   Liabilitas imbalan kerja jangka panjang                                        Long-term employee benefits
      pada awal tahun                             127.617                135.683    at the beginning of the year
   Beban imbalan kerja jangka panjang                                             Long-term employee benefits
      tahun berjalan                               31.013                 (1.637)   expense during the year
   Penyesuaian liabilitas imbalan kerja                                           Remeasurement of defined
      sebagai dampak penerapan                                                      benefit liability as a result of
      Undang-Undang Cipta Kerja                      2.910                      -   Undang-Undang Cipta Kerja
   Pengukuran kembali liabilitas                                                  Remeasurement of defined
      imbalan pasti                                  7.165                14.452    benefit liability
   Pengaruh pembatasan aset
      tahun berjalan                                 2.299                     - Effect of assets ceiling during the year
   Pembayaran imbalan kerja jangka panjang          (1.048)                 (171) Benefits payment during the year
   Iuran Grup                                      (21.275)              (20.710) Group's contribution

   Liabilitas imbalan kerja jangka                                                  Long-term employee benefits
     panjang pada akhir tahun                     148.681                127.617      liabilities at the end of the year


   Asumsi-asumsi aktuarial utama yang digunakan                      Principal actuarial assumptions used in the
   dalam perhitungan imbalan kerja jangka panjang                    valuation of the long-term employee benefits are as
   adalah sebagai berikut:                                           follows:

                                                 2023                 2022

   Tingkat kenaikan gaji                     2,38% - 8,00%        2,38% - 10,00% Future salary increase
   Tingkat diskonto                          6,50% - 8,00%            4% - 7,60% Discount rate




                                                        - 157 -
Page 480
PT SINAR MAS MULTIARTHA TBK                                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                         For the Years Ended
31 Desember 2023 dan 2022                                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                            unless otherwise stated)


   Analisa sensitivitas dari perubahan asumsi-asumsi                          The sensitivities of the overall long-term employee
   utama terhadap liabilitas imbalan kerja jangka                             benefits liability as at December 31, 2023 and 2022
   panjang pada tanggal 31 Desember 2023 dan 2022                             to changes in the principal assumptions are as
   adalah sebagai berikut:                                                    follows:
                                                 31 Desember/December 31, 2023

                                            Dampak terhadap liabilitas imbalan pasti/
                                               Impact on Defined Benefit Liability

                                        Perubahan            Kenaikan               Penurunan
                                         Asumsi/             Asumsi/                 Asumsi/
                                         Changes             Increase                Decrease
                                     in Assumptions      in Assumptions          in Assumptions

   Tingkat diskonto                             1%                 (26.553)                  34.942    Discount rate
   Tingkat pertumbuhan gaji                     1%                  30.388                  (24.306)   Salary increase rate

                                                 31 Desember/December 31, 2022

                                            Dampak terhadap liabilitas imbalan pasti/
                                               Impact on Defined Benefit Liability

                                        Perubahan            Kenaikan               Penurunan
                                         Asumsi/             Asumsi/                 Asumsi/
                                         Changes             Increase                Decrease
                                     in Assumptions      in Assumptions          in Assumptions

   Tingkat diskonto                             1%                 (18.499)                  23.844    Discount rate
   Tingkat pertumbuhan gaji                     1%                  27.503                  (16.090)   Salary increase rate




47. Pajak Penghasilan                                                  47. Income Taxes

   Beban pajak Grup terdiri dari:                                             The tax expense of the Group consists of the
                                                                              following:

                                                      2023                    2022

   Beban pajak kini                                                                         Current tax expense
     Perusahaan                                           6.846                    3.506      The Company
     Entitas anak                                       102.992                  443.935      Subsidiaries

     Jumlah                                             109.838                  447.441       Total

   Beban (manfaat) pajak tangguhan                                                             Deferred tax expense (benefit)
     Perusahaan                                             (67)                      68       The Company
     Entitas anak                                       (14.229)                (102.194)      Subsidiaries

     Jumlah                                             (14.296)                (102.126)      Total

   Jumlah                                                95.542                  345.315 Total


   Pajak Kini                                                                 Current Tax

   Rekonsiliasi  antara    laba    sebelum     pajak                          A reconciliation between profit before tax per
   penghasilan menurut laporan laba rugi dan                                  consolidated statements of profit or loss and other
   penghasilan komprehensif lain konsolidasian                                comprehensive income and taxable income
   dengan laba kena pajak adalah sebagai berikut:                             follows:
                                                      2023                    2022

   Laba sebelum pajak menurut                                                            Profit before tax per consolidated
     laporan laba rugi dan                                                                 statements of profit
     penghasilan komprehensif                                                              or loss and other
     lain konsolidasian                               1.284.257                1.247.315   comprehensive income




                                                             - 158 -
Page 481
PT SINAR MAS MULTIARTHA TBK                                                   PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                            AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                      Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                           (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                               unless otherwise stated)


                                               2023              2022

   Dikurangi:                                                                 Deduct:
     Laba sebelum pajak entitas anak          (1.249.698)        (1.231.179)    Profit before tax of the subsidiaries
     Laba sebelum pajak perusahaan                34.559             16.136     Profit before tax of the Company
   Perbedaaan temporer:                                                       Temporary differences:
     Imbalan kerja jangka panjang                      303              (307)   Long-term employee benefits

   Perbedaaan tetap:                                                         Permanent differences:
     Beban umum dan                                                            General and administrative
        administrasi                             635.129            495.471       expenses
     Beban penyusutan aset tetap                   3.821              3.193    Depreciation expense
     Beban sewa                                    1.705                  -    Rent expenses
     Beban lain-lain                               2.225              6.280    Other expenses
     Rugi selisih kurs                            25.695                  -    Loss on foreign exchange
     Pendapatan sewa                             (10.872)           (15.883)   Rent income
     Pendapatan bunga                            (35.099)           (23.996)   Interest income
     Kerugian (keuntungan)
        dari investasi                                                           Gain from investment in units
        pada unit reksa dana                     (29.415)           (75.294)        of mutual funds
     Pendapatan dividen                         (321.967)          (159.289)     Dividend income
     Pendapatan atas penjualan                                                   Income from sale of short
     Investasi jangka pendek                    (308.143)          (182.138)        term investment
     Laba selisih kurs                                 -            (80.296)     Gain on foreign exchange
     Kerugian penurunan nilai                                                    Loss on impairment of
        piutang                                   33.175             32.061         receivables

   Jumlah                                         (3.746)               109 Total

   Laba kena pajak                                31.116             15.938 Taxable profit
   Beban pajak kini                                6.846              3.506 Current tax expense
   Pajak dibayar dimuka                            6.825              3.484 Prepaid taxes

   Jumlah utang pajak kini                             21                 22 Current tax payable amount

   Rincian utang pajak kini                                                    Details of current tax payable:
     Perusahaan                                       21                 22      The Company
     Entitas anak                                 25.453            176.012      Subsidiaries

   Jumlah utang pajak                                                          Current tax payable
     kini (Catatan 28)                            25.474            176.034      amount (Note 28)



   Pada tanggal 7 Oktober 2021, Dewan Perwakilan                 On October 7, 2021, the House of Representatives
   Rakyat Republik Indonesia mengesahkan Undang–                 of the Republic of Indonesia passed the Law on the
   Undang Harmonisasi Peraturan Perpajakan, yang                 Harmonization of Tax Regulations, which stipulates
   antara lain menetapkan tarif pajak penghasilan                a corporate income tax rate of 22% for the fiscal
   badan sebesar 22% untuk tahun pajak 2022 dan                  year 2022 onwards, among others.
   seterusnya.

   Grup telah menerapkan perubahan tarif pajak                   The Group has applied the applicable new
   penghasilan badan yang baru tersebut dalam                    corporate income tax rate in computing current
   perhitungan pajak kini dan pajak tangguhannya.                taxes and deferred tax.

   Aset dan liabilitas pajak tangguhan Grup tanggal              The Group's deferred tax assets and liabilities as at
   31 Desember 2023 dan 2022 telah dihitung                      December 31, 2023 and 2022 have been
   menggunakan tarif pajak yang diperkirakan berlaku             calculated using the tax rates that are expected to
   pada saat realisasi aset dan liabilitas pajak                 apply when the deferred tax assets and liabilities
   tangguhan.                                                    are realized.




                                                       - 159 -
Page 482
PT SINAR MAS MULTIARTHA TBK                                                           PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                    AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                              Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                    For the Years Ended
31 Desember 2023 dan 2022                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                   (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                       unless otherwise stated)


   Pajak Tangguhan                                                       Deferred Tax

                                                   Dikreditkan (dibebankan) ke/
                                                        Credit (charged) to

                                                                        Penghasilan
                                                                       Komprehensif
                                1 Januari/                               Lain/Other       31 Desember/
                                 January          Laba rugi           Comprehensive        December
                                   2023         Profit and loss           Income              2023

   Aset Pajak Tangguhan                                                                                     Deferred Tax Assets
   Perusahaan                                                                                               The Company
     Imbalan kerja jangka                                                                                     Long-term employee
         panjang                          -                 67                  (67)                  -          benefits
   Entitas anak                     350.626             14.603               10.544             375.773     Subsidiaries

   Jumlah                            350.626            14.670               10.477              375.773    Total

   Liabilitas Pajak Tangguhan                                                                               Deferred Tax Liabilities
   Entitas anak                      (10.933)              (374)              6.542               (4.765)   Subsidiaries



                                                   Dikreditkan (dibebankan) ke/
                                                        Credit (charged) to

                                                                        Penghasilan
                                                                       Komprehensif
                                1 Januari/                               Lain/Other       31 Desember/
                                 January          Laba rugi           Comprehensive        December
                                   2022         Profit and loss           Income              2022

   Aset Pajak Tangguhan                                                                                     Deferred Tax Assets
   Perusahaan                                                                                               The Company
     Imbalan kerja jangka                                                                                     Long-term employee
         panjang                           -               (68)                  68                    -      benefits
   Entitas anak                      242.245            98.037               10.344              350.626    Subsidiaries

   Jumlah                            242.245            97.969               10.412              350.626    Total

   Liabilitas Pajak Tangguhan                                                                                 Deferred Tax Liabilities
   Entitas anak                     (12.860)              4.157              (2.230)            (10.933)    Subsidiaries



   Manajemen berkeyakinan bahwa aset pajak                               Management believes that deferred tax assets
   tangguhan yang timbul dari perbedaan temporer                         arising on temporary difference can be realized in
   tersebut dapat direalisasi di masa yang akan                          the future.
   datang.

   Rekonsiliasi antara beban pajak dan hasil perkalian                   A reconciliation between the total tax expense and
   laba akuntansi sebelum pajak dengan tarif pajak                       the amounts computed by applying the effective
   yang berlaku dalam laporan laba rugi dan                              tax rates to profit before tax per consolidated
   penghasilan komprehensif lain konsolidasian                           statements of profit or loss and other
   adalah sebagai berikut:                                               comprehensive income follows:

                                                    2023                  2022

   Laba sebelum pajak menurut                                                         Profit before tax per consolidated
     laporan laba rugi dan                                                              statements of profit
     penghasilan komprehensif                                                           or loss and other
     lain konsolidasian                             1.284.257              1.247.315    comprehensive income
   Dikurangi:                                                                         Deduct:
   Laba sebelum pajak                                                                 Profit before tax of the
     entitas anak                                  (1.249.698)            (1.231.179)   subsidiaries
   Laba sebelum pajak Perusahaan                       34.559                 16.136 Profit before tax of the Company
   Beban pajak atas dasar tarif                                                       Tax expense at effective
     pajak yang berlaku                                 7.603                  3.550    tax rates
   Pengaruh pajak atas                                                                Tax effects of permanent
     perbedaan tetap:                                                                   differences:
   Beban umum dan                                                                     General and administrative
     administrasi                                     139.728                109.004    expenses
   Beban penyusutan aset tetap                            841                    702 Depreciation expense
   Beban sewa                                             375                      - Rent expenses
   Beban lain-lain                                        489                  1.381 Other expenses


                                                            - 160 -
Page 483
PT SINAR MAS MULTIARTHA TBK                                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                           For the Years Ended
31 Desember 2023 dan 2022                                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                              unless otherwise stated)


                                                         2023                   2022

    Rugi selisih kurs                                        5.653                       - Loss on foreign exchange
    Pendapatan sewa                                         (2.392)                 (3.494) Rent income
    Pendapatan bunga                                        (7.722)                 (5.279) Interest income
    Kerugian (keuntungan) dari                                                              Gain from investment in units
      investasi pada unit reksa dana                        (6.471)                (16.565)    of mutual funds
    Pendapatan dividen                                     (70.833)                (35.044) Dividend income
    Pendapatan atas penjualan                                                               Income from sale of short
      investasi jangka pendek                              (67.791)                (40.070)    term investment
    Laba selisih kurs                                            -                 (17.664) Gain on foreign exchange
    Kerugian penurunan nilai                                                                Loss on impairment of
      piutang                                                7.299                   7.053     receivables

    Jumlah                                                    (824)                     24 Total

    Penyesuaian atas aset pajak                                                             Adjustments to deferred
      tangguhan atas laba (rugi)                                                              tax assets for unknown
      fiscal yang tidak diketahui                            6.846                  (3.506)   fiscal income (loss)

    Beban pajak Perusahaan                                      (67)                    68 Tax expense of the Company

    Beban (penghasilan) pajak                                                             Tax expense (income) of the
      Perusahaan                                                (67)                    68  Company
    Beban (penghasilan) pajak                                                             Tax expense (income) of the
      entitas anak                                          95.609                345.247   subsidiaries

    Jumlah                                                  95.542                345.315 Total




48. Laba per Saham                                                        48. Basic Earnings Per Share

                                                         2023                   2022

    Laba bersih untuk                                                                     Net profit for computation
      Perhitungan laba                                                                      of basic earnings
      per saham dasar                                   1.168.946                 844.563   per share

    Jumlah rata-rata                                                                     Total weighted average
      saham tertimbang                                                                     number of shares for
      untuk perhitungan                                                                    computation of basic
      laba per saham dasar                           6.367.664.717         6.367.664.717   earnings per share

    Laba bersih per
      saham dasar                                                                            Basic earnings per share
      (dalam Rupiah penuh)                                      184                    133     (in full Rupiah)




49. Sifat dan Transaksi Berelasi                                          49. Nature of Relationship and Transactions with
                                                                              Related Parties

    Sifat Berelasi                                                              Nature of Relationships with Related Parties

                 Sifat dari hubungan/                       Pihak berelasi/                              Sifat dari transaksi/
                Nature of relationship                      Related parties                             Nature of transactions
     Perusahaan yang dikendalikan oleh anggota       PT Wijaya Pratama Raya              Simpanan nasabah, beban bunga dan bagi hasil/
     keluarga dekat pemegang saham dan                                                   Deposits of customer, interest and profit sharing
     manajemen kunci Perusahaan/                                                         expense
     The Company who controlled by close family of
     shareholders and the key management
                                                     PT Wahana Inti Nusantara            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                         Deposits of customer, interest and profit sharing
                                                                                         expense
                                                     PT Universal Transindo Mas          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                         Deposits of customer, interest and profit sharing
                                                                                         expense



                                                                - 161 -
Page 484
PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                          Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                               (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                   unless otherwise stated)


            Sifat dari hubungan/                Pihak berelasi/                                Sifat dari transaksi/
            Nature of relationship              Related parties                               Nature of transactions
                                        PT Trisula Kencana Sakti             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Transkarya Usahamaju              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Taruna Cipta Kencana              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Tapian Nadenggan                  Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Swakarya Adhi Usaha               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Surya Kalimantan Sejati           Simpanan nasabah, beban bunga dan bagi hasil/
                                        Dua                                  Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Surya Inter Wisesa                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Super Wahana Tehno                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sunshine Network Pte Ltd          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Summit Oto Finance                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sumber Indah Perkasa              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sumalindo Hutani Jaya             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Soci Mas                          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        SMG Management Limited               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Smartfren Telecom Tbk             Aset lain-lain, penjaminan emisi efek, simpanan
                                                                             nasabah, pendapatan underwriting asuransi,
                                                                             pendapatan jasa penjaminan emisi dan perantara
                                                                             pedagang efek serta manajer investasi, pendapatan
                                                                             jasa biro administrasi efek, beban underwriting
                                                                             asuransi,beban bunga dan bagi hasil/Other assets,
                                                                             underwriting, deposits of customer, underwriting
                                                                             insurance income, stock brokerage underwriting and
                                                                             investment management income, securities
                                                                             administration fee, underwriting insurance expenses,
                                                                             interest and profit sharing expense
                                        PT Sks Listrik Kalimantan            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sinarwijaya Ekapratista           Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sinarmas Tunggal                  Aset lain-lain, simpanan nasabah, beban bunga dan
                                                                             bagi hasil/Other assets, deposits of customer, interest
                                                                             and profit sharing expense
                                        PT Sinarmas Respati                  Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sinarmas Rendranusa               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sinarmas Logistic Sejahtera       Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sinarmas Bio Energy               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense
                                        PT Sinarindo Gerbangmas              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                             Deposits of customer, interest and profit sharing
                                                                             expense




                                                    - 162 -
Page 485
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


            Sifat dari hubungan/               Pihak berelasi/                               Sifat dari transaksi/
            Nature of relationship             Related parties                              Nature of transactions
                                        PT Sinar Usaha Marga               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Usaha Mahitala            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Syno Kimia                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Mas Wisesa                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Mas Ventura               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Mas Teladan               Simpanan nasabah, aset lain-lain, beban bunga dan
                                                                           bagi hasil/Deposits of customer, other assets, interest
                                                                           and profit sharing expense
                                        PT Sinar Mas Super Air             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Mas Specialty             Simpanan nasabah, beban bunga dan bagi hasil/
                                        Minerals                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinarmas Penjamin kredit        Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Mas Cakrawala             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Mas Agro Resources        Investasi jangka pendek, Simpanan nasabah,
                                        and Technology Tbk                 pendapatan underwriting asuransi, pendapatan jasa
                                                                           biro administrasi efek, beban bunga dan bagi hasil/
                                                                           Short term investment, deposits of customer,
                                                                           underwriting insurance income, securities
                                                                           administration fee income, interest and profit sharing
                                                                           expense
                                        PT Sinar Kencana Inti Perkasa      Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sinar Kencana Intermoda         Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Simas Reinsurance Broker        Piutang reasuransi, piutang lain-lain, utang asuransi,
                                                                           simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Reinsurance receivable, other receivables, insurance
                                                                           payable, deposits of customer, interest and profit
                                                                           sharing expense
                                        PT SGMW Multifinance               Simpanan nasabah, beban bunga dan bagi hasil/
                                        Indonesia                          Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sehatq Harsana Emedika          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sawit Mas Sejahtera             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Satya Kisma Usaha               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Saranapapan Ekasejati           Aset lain-lain, simpanan nasabah, beban bunga dan
                                                                           bagi hasil/Other assets, deposits of customer, interest
                                                                           and profit sharing expense
                                        PT Samakta Mitra                   Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sadang Mas                      Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sabang Pakubuwono Tiga          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Sabang Pakubuwono Satu          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Royal Oriental                  Simpanan nasabah, aset lain-lain, beban bunga dan
                                                                           bagi hasil/Deposits of customer, other assets, interest
                                                                           and profit sharing expense



                                                   - 163 -
Page 486
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


            Sifat dari hubungan/              Pihak berelasi/                                 Sifat dari transaksi/
            Nature of relationship            Related parties                                Nature of transactions
                                        PT Roundhill Watala                 Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Roundhill Capital Indonesia      Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Rolimex Kimia Nusamas            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Reasuransi Nusantara             Simpanan nasabah, beban bunga dan bagi hasil/
                                        Makmur                              Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Ramajaya Pramukti                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Purinusa Ekapersada              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Purimas Sasmita                  Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Propertindo Prima                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Praba Selaras Pratama            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Plaza Indonesia Realty           Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Pindo Deli Pulp And Paper        Investasi jangka pendek, Simpanan nasabah,
                                        Mills                               pendapatan underwriting asuransi, pendapatan jasa
                                                                            penjaminan emisi dan perantara pedagang efek serta
                                                                            manajer investasi, beban bunga dan bagi hasil/
                                                                            Short term investment, deposits of customer,
                                                                            underwriting insurance income, stock brokerage,
                                                                            underwriting and investment management income,
                                                                            interest and profit sharing expense
                                        PT Phinisindo Zamrud                Simpanan nasabah, beban bunga dan bagi hasil/
                                        Nusantara                           Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Petro Sinar Mas Kondensat        Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Perwita Margasakti               Aset lain-lain, simpanan nasabah/Other assets,
                                                                            deposits of customer
                                        PT Perusahaan Perkebunan            Simpanan nasabah, beban bunga dan bagi hasil/
                                        Panigoran                           Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Pembangunan Deltamas             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Pelayaran Utama                  Simpanan nasabah, beban bunga dan bagi hasil/
                                        Karyamaju                           Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Paramitra Gunakarya              Simpanan nasabah, beban bunga dan bagi hasil,
                                        Cemerlang                           piutang, sewa pembiayaan/Deposits of customer,
                                                                            interest and profit sharing expense
                                        PT Paramitra Abadimas               Simpanan nasabah, beban bunga dan bagi hasil/
                                        Cemerlang                           Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Paraga Arthamida                 Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Pabrik Kertas Tjiwi Kimia        Investasi jangka pendek, Simpanan nasabah,
                                        Tbk                                 pendapatan underwriting asuransi, pendapatan jasa
                                                                            biro administrasi efek/
                                                                            Short term investment, deposits of customer,
                                                                            underwriting insurance income, securities
                                                                            administration fee
                                        PT Oto Multiartha                   Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Oriente Mas Sejahtera            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense




                                                    - 164 -
Page 487
PT SINAR MAS MULTIARTHA TBK                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                 unless otherwise stated)


            Sifat dari hubungan/               Pihak berelasi/                               Sifat dari transaksi/
            Nature of relationship             Related parties                             Nature of transactions
                                        PT Oki Pulp and Paper Mills        Simpanan nasabah, pendapatan jasa penjaminan
                                                                           emisi dan perantara pedagang efek serta manajer
                                                                           investasi, beban bunga dan bagi hasil/
                                                                           Deposits of customer, stock brokerage, underwriting
                                                                           and investment management income, interest and
                                                                           profit sharing expense
                                        PT Oji Sinar Mas Packaging         Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Mp Leidong West Indonesia       Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Menara Madju                    Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Mekanusa Cipta                  Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Mega Nusa Inti Sawit            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Matra Olah cipta                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Maligi Permata Industrial       Simpanan nasabah, beban bunga dan bagi hasil/
                                        Estate                             Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Lontar Papyrus Pulp &           Simpanan nasabah, pendapatan underwriting
                                        Paper Industry                     asuransi, pendapatan jasa penjaminan emisi dan
                                                                           perantara pedagang efek serta manajer investasi,
                                                                           beban bunga dan bagi hasil/Deposits of customer,
                                                                           underwriting insurance income, stock brokerage,
                                                                           underwriting and investment management income,
                                                                           interest and profit sharing expense
                                        PT Langgeng Kreasitama             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Kuansing Inti Makmur            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Kresna Duta Agroindo            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Kreasi Mas Indah                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Kookmin Best Insurance          Simpanan nasabah, piutang pembiayaan sewa,
                                        Indonesia                          pendapatan bunga dan bagi hasil, beban bunga dan
                                                                           bagi hasil/Deposits of customer, finance lease
                                                                           receivable, interest and profit sharing income, interest
                                                                           and profit sharing expense
                                        PT Kencana Graha Permai            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Kembangan Permai                Simpanan nasabah, beban bunga dan bagi hasil/
                                        Development                        Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Karya Cemerlang Persada         Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Karawang Tatabina               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Karawang Bukit Golf             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Ivo Mas Tunggal                 Premi asuransi, Simpanan nasabah, kredit, beban
                                                                           underwriting asuransi/Premium insurance, deposits of
                                                                           customer, credit, insurance underwriting expense
                                        PT Kreasi Kotak Megah              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                           Deposits of customer, interest and profit sharing
                                                                           expense
                                        PT Konverta Mitra Abadi            Simpanan nasabah, pendapatan bunga dan bagi
                                                                           hasil, beban bunga dan bagi hasil/Deposits of
                                                                           customer, interest income, interest and profit sharing
                                                                           expense
                                        PT Kati Kartika Murni              Simpanan nasabah, pendapatan bunga dan bagi
                                                                           hasil, beban bunga dan bagi hasil/Deposits of
                                                                           customer, interest income, interest and profit sharing
                                                                           expense




                                                    - 165 -
Page 488
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


            Sifat dari hubungan/               Pihak berelasi/                               Sifat dari transaksi/
            Nature of relationship             Related parties                              Nature of transactions
                                        PT Asia Paperindo Perkasa           Simpanan nasabah, pendapatan bunga dan bagi
                                                                            hasil, beban bunga dan bagi hasil/Deposits of
                                                                            customer, interest and profit sharing income, interest
                                                                            and profit sharing expense
                                        PT Inti Tekno Sukses Bersama        Simpanan nasabah, aset lain-lain, beban bunga dan
                                                                            bagi hasil/Deposits of customer, other assets, interest
                                                                            and profit sharing expense
                                        PT. Harapan Anang Bakri &           Simpanan nasabah, aset lain-lain, beban bunga dan
                                        Sons                                bagi hasil/Deposits of customer, other assets, interest
                                                                            and profit sharing expense
                                        PT Intercipta Kimia Pratama         Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Inter Sarana Prabawa             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Innovate Mas Indonesia           Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Indah Suryasari Wijaya           Simpanan nasabah, beban bunga dan bagi hasil/
                                        Limantara                           Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Dian Bestari Sejahtera           Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Dami Mas Sejahtera               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Celesta Prime Technology         Simpanan nasabah, beban bunga dan bagi hasil/
                                        Pte Ltd                             Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Catur Paramita                   Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Cahayanusa Gemilang              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bungo Bara Utama Jakarta         Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumipermai Lestari               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumimas Ekapersada               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumi Serpong Damai Tbk           Investasi jangka pendek, aset lain-lain, Simpanan
                                                                            nasabah, pendapatan underwriting asuransi, beban
                                                                            underwriting asuransi, pendapatan jasa biro
                                                                            administrasiefek, beban bunga dan bagi hasil/Short
                                                                            term investment, other assets, deposits of customer,
                                                                            underwriting insurance income, underwriting
                                                                            insurance expense, securities administration fee
                                                                            income, interest and profit sharing expense
                                        PT Duta Pertiwi Tbk                 Simpanan nasabah, aset lain-lain, beban bunga dan
                                                                            bagi hasil/Deposits of customer, other assets, interest
                                                                            and profit sharing expense
                                        PT Bumi Sawit Permai                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumi Permai Lestari              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumi Parama Wisesa               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumi Megah Graha Asri            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumi Karawang Damai              Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Bumi Indah Asri                  Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense
                                        PT Buana Wiralestari Mas            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                            Deposits of customer, interest and profit sharing
                                                                            expense



                                                   - 166 -
Page 489
PT SINAR MAS MULTIARTHA TBK                                                               PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                        AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                  Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                        For the Years Ended
31 Desember 2023 dan 2022                                                                       December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                       (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                           unless otherwise stated)


              Sifat dari hubungan/                       Pihak berelasi/                                Sifat dari transaksi/
              Nature of relationship                    Related parties                               Nature of transactions
                                                  PT Buana Bumi Energi               Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Buana Adhitama                  Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Borneo Indobara                 Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Bintang Rajawali Perkasa        Simpanan nasabah, investasi dalam saham, ekuitas
                                                                                     pada laba entitas asosiasi, pendapatan Lain-lain,
                                                                                     beban bunga dan bagi hasil/Deposits of customer,
                                                                                     investment in share, gain from equity of associates,
                                                                                     other income, interest and profit sharing expense
                                                  PT Bina Sinar Amity                Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Bhakti Manunggal Karya          Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Berau Coal Energy Tbk           Simpanan nasabah, pendapatan bunga dan bagi
                                                                                     hasil, pendapatan jasa biro administrasi efek, beban
                                                                                     bunga dan bagi hasil/Deposits of customer, interest
                                                                                     income, securities administration fee income, interest
                                                                                     and profit sharing expense
                                                  PT Berau Coal                      Simpanan nasabah, pendapatan bunga dan bagi
                                                                                     hasil, beban bunga dan bagi hasil/ Deposits of
                                                                                     customer, working capital financing with factoring
                                                                                     receivable, interest and profit sharing income, interest
                                                                                     and profit sharing expense
                                                  PT Balai Lelang Sinarmas           Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Asia Trade Logistics            Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Arara Abadi                     Premi asuransi, Simpanan nasabah, pendapatan
                                                                                     underwriting asuransi, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, underwriting insurance income,
                                                                                     interest and profit sharing expense
                                                  PT App International Marketing     Simpanan nasabah, beban bunga dan bagi hasil/
                                                  Pte Ltd                            Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Sinar Mas Tjipta                Beban umum dan administrasi/General and
                                                                                     administration
                                                  PT Anugerah Pertiwi Sejahtera      Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Andalan Mas Sejahtera           Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Argha Karya Prima Industry      Simpanan nasabah, beban bunga dan bagi hasil/
                                                  Tbk                                Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Agropalma Sejahtera             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
                                                  PT Agrolestari Mandiri             Simpanan nasabah, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, interest and profit sharing
                                                                                     expense
       Perusahaan yang dimiliki secara langsung   PT The Univenus                    Premi asuransi,Simpanan nasabah, pendapatan
       atau tidak langsung oleh pemegang saham                                       underwriting asuransi, beban bunga dan bagi hasil/
       Perusahaan/Companies that directly and                                        Premium insurance, deposits of customer,
       indirectly owned by the Company's                                             underwriting insurance income, interest and profit
       shareholder                                                                   sharing expense
                                                  PT Sinarmas Hana Finance           Simpanan nasabah, piutang premi, beban bunga dan
                                                                                     bagi hasil/Deposits of customer, premium
                                                                                     receivables, interest and profit sharing expense
                                                  PT Peduli Sehat Gotong             Simpanan nasabah, investasi dalam saham, aset
                                                  Royong                             lain-lain, bagian laba anak perusahaan dan
                                                                                     perusahaan asosiasi, beban bunga dan bagi hasil/
                                                                                     Deposits of customer, investment in share, other
                                                                                     assets, profit of subsidiary and associates, interest
                                                                                     and profit sharing expense




                                                              - 167 -
Page 490
PT SINAR MAS MULTIARTHA TBK                                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                    unless otherwise stated)


               Sifat dari hubungan/                                Pihak berelasi/                                  Sifat dari transaksi/
               Nature of relationship                              Related parties                                 Nature of transactions
                                                            PT KB Insurance Indonesia             Investasi dalam saham, utang asuransi, bagian laba
                                                                                                  anak perusahaan dan perusahaan asosiasi,
                                                                                                  pendapatan Lain-lain/
                                                                                                  Investment in share, finance lease receivable,
                                                                                                  insurance payable, profit of subsidiary and
                                                                                                  associates, deposit of customer, interest and profit
                                                                                                  sharing income, other income, interest and profit
                                                                                                  sharing expense
                                                            PT Cakrawala Mega Indah               Simpanan nasabah, pendapatan underwriting
                                                                                                  asuransi, beban underwriting asuransi, beban bunga
                                                                                                  dan bagi hasil/Deposits of customer, underwriting
                                                                                                  insurance income, underwriting insurance expense,
                                                                                                  interest and profit sharing expense
                                                            PT Asuransi Summit Oto                Piutang reasuransi, simpanan nasabah, beban bunga
                                                                                                  dan bagi hasil/Reinsurance receivable, deposits of
                                                                                                  customer, interest and profit sharing expense
                                                            PT MSIG Life Insurance                Simpanan nasabah, investasi jangka pendek,
                                                            IndonesiaTbk                          pendapatan jasa biro administrasi efek, pendapatan
                                                                                                  Lain-lain, beban bunga dan bagi hasil/
                                                                                                  Deposits of customer, short term investment,
                                                                                                  securities administration fee income, other income,
                                                                                                  interest and profit sharing expense
    Manajemen kunci Perusahaan/                                                                   Simpanan nasabah, piutang pembiayaan multiguna,
    The Company's key management                                                                  kredit yang diberikan, pendapatan bunga dan bagi
                                                                                                  hasil, beban bunga dan bagi hasil/
                                                                                                  Deposits of customer, multipurpose financing
                                                                                                  receivables, loans, interest and profit sharing income,
                                                                                                  interest and profit sharing expense
    Manajemen kunci Grup/                                                                         Simpanan nasabah, piutang pembiayaan multiguna,
    The Group's key management                                                                    aset lain-lain, pendapatan bunga dan bagi hasil,
                                                                                                  beban bunga dan bagi hasil/
                                                                                                  Deposits of customer, multipurpose financing
                                                                                                  receivables, other assets, interest income, interest
                                                                                                  and profit sharing expense




   Transaksi-transaksi Berelasi                                                       Transactions with Related Parties

   Dalam kegiatan usahanya, Grup melakukan                                            In the normal course of business, the Group
   transaksi tertentu dengan pihak berelasi.                                          entered into certain transactions with related
                                                                                      parties.

   a.   Saldo dalam laporan posisi keuangan                                           a.    Significant balances with related parties in the
        konsolidasian yang merupakan transaksi                                              consolidated statements of financial position
        dengan pihak-pihak berelasi yang material                                           as at consolidated statement of financial
        pada tanggal laporan posisi keuangan                                                position dates follows:
        konsolidasian adalah sebagai berikut:

                                                     2023                                             2022

                                                           Persentase                                       Persentase
                                                            Terhadap                                         terhadap
                                                          Jumlah Aset/                                     Jumlah Aset/
                                                        Jumlah Liabilitas/                               Jumlah Liabilitas/
                                                          Percentage to                                    Percentage to
                                   Jumlah/                Total Assets/               Jumlah/              Total Assets/
                                    Total                Total Liabilities             Total              Total Liabilities

        ASET                                                                                                                  ASSETS
        Investasi jangka
           pendek                       24.097.445                 21,14%               29.257.310                 25,57%     Short-term investments
        Piutang pembiayaan                                                                                                    Multipurpose financing
           multiguna                          756                   0,00%                       802                 0,00%        receivables
        Piutang sewa                                                                                                          Finance lease
           pembiayaan                      64.763                   0,06%                  83.662                   0,07%        receivables
        Piutang pembiayaan                                                                                                    Working capital financing
           modal kerja skema                                                                                                     with factoring
           anjak piutang                   14.554                   0,01%                  61.843                   0,05%        scheme receivables
        Piutang premi dan                                                                                                     Premium and reinsurance
           reasuransi                        7.184                  0,01%                1.000.143                  0,87%        receivables




                                                                       - 168 -
Page 491
PT SINAR MAS MULTIARTHA TBK                                                                 PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                          AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                    Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                          For the Years Ended
31 Desember 2023 dan 2022                                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                         (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                             unless otherwise stated)


                                                2023                                           2022

                                                      Persentase                                     Persentase
                                                       Terhadap                                       terhadap
                                                     Jumlah Aset/                                   Jumlah Aset/
                                                   Jumlah Liabilitas/                             Jumlah Liabilitas/
                                                     Percentage to                                  Percentage to
                                 Jumlah/             Total Assets/            Jumlah/               Total Assets/
                                  Total             Total Liabilities          Total               Total Liabilities

        Kredit yang diberikan          96.104                  0,08%                  79.150                 0,07%     Loans
        Piutang lain-lain             373.759                  0,33%               1.004.472                 0,88%     Other receivables
        Aset lain-lain              1.351.102                  1,19%               1.403.115                 1,23%     Other assets

        Jumlah Aset                26.005.667                 22,82%           32.890.497                   28,75%     Total Assets

        LIABILITAS                                                                                                     LIABILITIES
        Simpanan dan simpanan                                                                                          Deposits and deposits from
           dari bank lain           7.542.621                  8,46%               5.477.224                 6,04%        other banks
        Utang asuransi                 18.471                  0,02%                 138.781                 0,15%     Insurance payables
        Beban akrual                        -                       -                     20                 0,00%     Accrued expenses
        Liabilitas lain-lain          746.045                  0,84%               1.108.570                 1,22%     Other liabilities

        Jumlah Liabilitas           8.307.137                  9,32%               6.724.595                 7,41%     Total Liabilities




   b.   Pada tanggal 31 Desember 2023 dan 2022,                               b.      As at December 31, 2023 and 2022, the
        Grup menginvestasikan dananya masing-                                         Group invested its funds amounting to
        masing sebesar Rp137.326 dan Rp56.566                                         Rp137,326 and Rp56,566, respectively, in
        dalam unit penyertaan reksa dana yang                                         units of mutual funds which were managed by
        dikelola oleh SMS, entitas anak, sebagai                                      SMS, a subsidiary, as investment manager
        manajer investasi (Catatan 5).                                                (Note 5).
   c.   Grup telah mengasuransikan properti investasi                         c.      The Group has insured the investment
        dan aset tetap pada ASM (Catatan 17 dan 18).                                  properties and property and equipment with
                                                                                      ASM (Notes 17 and 18).
   d.   Beban gaji dan tunjangan yang telah dibayar                           d.      The aggregate salaries and benefits paid by
        oleh Grup kepada seluruh dewan komisaris                                      the Group to all commissioners and directors
        dan direksi untuk tahun 2023 dan 2022                                         in 2023 and 2022 amounted to Rp577,189 and
        masing-masing sebesar Rp577.189 dan                                           Rp404,141, respectively.
        Rp404.141.
   e.   Pada tanggal 31 Desember 2023 dan 2022,                               e.      As at December 31, 2023 and 2022, the total
        saldo transaksi komitmen dan kontinjensi (L/C                                 balance of commitments and contingencies
        dan bank garansi) dengan pihak berelasi                                       transactions (L/C and bank guarantees) with
        masing-masing sebesar Rp116.355 dan                                           related parties amounted to Rp116,355 and
        Rp104.765 (Catatan 53).                                                       Rp104,765, respectively (Note 53).
   f.   Transaksi     dengan    pihak-pihak  berelasi                         f.      Transactions with related parties are
        dilakukan dengan kebijakan harga dan syarat                                   conducted with normal policies and terms, as if
        normal, sebagaimana dilakukan dengan pihak                                    done with nonrelated parties, except for
        yang     tidak   berelasi,  kecuali  piutang                                  multipurpose     financing   receivables    to
        pembiayaan multiguna kepada karyawan.                                         employees.


50. Aset dan Liabilitas Moneter Bersih dalam Mata                          50. Net  Monetary     Assets    and                        Liabilities
    Uang Asing                                                                 Denominated in Foreign Currencies
                                                2023                                           2022

                                 Ekuivalen/             Ekuivalen/           Ekuivalen/                Ekuivalen/
                                Equivalent in          Equivalent in        Equivalent in             Equivalent in
                                    USS                     Rp                  US$                        Rp

   Aset                                                                                                                Assets
   Kas dan bank                   201.770.758              3.110.499          115.933.905                 1.805.361    Cash and cash in banks
   Investasi jangka pendek        477.046.056              7.354.142          174.753.969                 4.043.710    Short term investments
   Piutang premi dan                                                                                                   Premiums and reinsurance
      reasuransi                   45.580.241                702.665          107.814.891                 1.696.036       receivables
   Kredit yang diberikan           34.407.499                530.426           48.832.847                 1.205.705    Loans
   Tagihan akseptasi                3.248.119                 50.073            3.159.304                    49.306    Acceptance receivables




                                                                 - 169 -
Page 492
PT SINAR MAS MULTIARTHA TBK                                                                         PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                  AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                            Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                                 December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                 (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                     unless otherwise stated)


                                                      2023                                          2022

                                      Ekuivalen/              Ekuivalen/             Ekuivalen/             Ekuivalen/
                                     Equivalent in           Equivalent in          Equivalent in          Equivalent in
                                         USS                      Rp                    US$                     Rp

    Piutang lain-lain                    3.082.382                  47.518                667.948                10.507    Other receivables
    Aset reasuransi                    233.064.349               3.592.920            159.822.522             2.514.168    Reinsurance assets
    Aset lain-lain                      40.527.634                 624.774             63.513.085               999.092    Other assets

    Jumlah Aset                      1.038.727.038              16.013.017            674.498.471            12.323.885    Total assets

    Liabilitas                                                                                                             Liabilities
    Simpanan dan simpanan                                                                                                  Deposits and deposits from
       dari bank lain                  427.006.207               6.574.615            327.967.208             5.105.794       other banks
    Utang asuransi                     124.537.067               1.919.863            110.205.593             1.733.644    Insurance payables
    Kewajiban Kontrak Dana                                                                                                 Segregated funds contract
       Terpisah                         13.579.060                 209.335              4.380.563                68.911       liabilities - Unit link
    Premi belum merupakan                                                                                                  Unearned premiums
       pendapatan dan                                                                                                         and estimated
       estimasi liabilitas klaim       103.772.630               1.599.759             65.221.139             1.025.994       claim liabilities
    Liabilitas akseptasi                 3.252.728                  50.082              3.169.465                49.342    Acceptance payables
    Beban akrual                           139.379                   2.146                 15.587                   243    Accrued expenses
    Liabilitas lain-lain                10.992.430                 169.271              1.036.933                16.183    Other liabilities

    Jumlah Liabilitas                  683.279.501              10.525.071            511.996.488             8.000.111    Total liabilities

    Jumlah Aset - bersih               355.447.537               5.487.946            162.501.982             4.323.774    Total Assets - Net



    Pada tanggal 31 Desember 2023 dan 2022, kurs                                      As at December 31, 2023 and 2022, the
    konversi yang digunakan Grup diungkapkan pada                                     conversion rates used by the Group were disclosed
    Catatan 2 atas laporan keuangan konsolidasian.                                    in Note 2 to consolidated financial statements.

51. Nilai Wajar Aset dan Liabilitas                                                51. Fair Value of Financial Assets and Financial
                                                                                       Liabilities

    Tabel berikut menyajikan pengukuran nilai wajar                                   The following table sets forth the carrying amounts
    aset dan liabilitas tertentu Grup:                                                and estimated fair values of the Group’s financial
                                                                                      assets and liabilities:
                                                                      2023

                                                                             Pengukuran nilai wajar menggunakan
                                                                               Fair value measurement using:
                                   Nilai Tercatat/
                                   Carrying value              Level 1                 Level 2             Level 3

    Aset yang diukur pada                                                                                                  Assets measured at fair
      nilai wajar:                                                                                                           value
    Aset keuangan yang diukur
      pada nilai wajar melalui                                                                                             Fair value through profit
      laba rugi                                                                                                               or loss
      Saham                               1.458.977              1.458.977                          -                 -       Shares and warrants
      Obligasi                            3.739.540              3.739.540                          -                 -       Bonds
      Reksadana                           7.521.198              7.521.198                          -                 -       Units of mutual fund
      Aset pemegang polis                                                                                                     Segregated funds net
          unit link                     20.177.065              20.177.065                          -                 -           assets - unit link
      Tagihan Derivatif                     27.502                  27.502                          -                 -       Derivative receivables

    Aset keuangan yang diukur
      pada nilai wajar melalui                                                                                             At fair value through other
      penghasilan                                                                                                             comprehensive
      komprehensif lain                                                                                                       income
      Saham                              2.158.221               2.158.221                          -                 -       Shares
      Obligasi                          14.371.536              14.371.536                          -                 -       Bonds
      Investasi dalam saham              3.059.070               3.059.070                          -                 -       Investment in shares




                                                                         - 170 -
Page 493
PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                          unless otherwise stated)


                                                            2023

                                                                   Pengukuran nilai wajar menggunakan
                                                                     Fair value measurement using:
                                   Nilai Tercatat/
                                   Carrying value     Level 1               Level 2           Level 3

   Aset yang nilai wajarnya                                                                                 Asset for which fair values
     disajikan:                                                                                               are disclosed
   Dukur pada biaya perolehan
     diamortisasi                                                                                           At amortized cost
     Penempatan pada Bank                                                                                   Placement with bank
        Indonesia                         6.263.376    6.263.376                      -                 -      Indonesia
     Obligasi                             2.486.703            -              2.486.703                 -   Bonds
     Piutang pembiayaan                                                                                     Multipurpose financing
        multiguna                        1.436.026                -           1.436.026                 -      receivables
     Piutang sewa pembiayaan               175.297                -             175.297                 -   Finance lease receivable
     Kredit yang diberikan              15.086.293                -          15.086.293                 -   Loans
     Tagihan akseptasi                      78.304                -              78.304                 -   Acceptance receivable
     Piutang pembiayaan                                                                                     Working capital financing
        modal kerja skema                                                                                      with factoring scheme
        anjak piutang                     2.513.517               -           2.513.517                 -      receivables
     Aset lain-lain - Setoran                                                                               Other assets - security
        jaminan                                                                                         -      deposit
     Tagihan atas wesel ekspor               39.147               -             39.147                  -   Export bills receivable
     Refinancing                             11.000               -             11.000                  -   Refinancing

   Liabilitas keuangan yang                                                                                 Liabilities measured at fair
      diukur pada nilai wajar                                                                                  value
                                                                                                            Segregated fund contract
   Dana pemegang polis unit link        20.767.188    20.767.188                      -                 -      liabilities - unit link
   Liabilitas derivatif                      3.235         3.235                      -                 -   Devirative liabilities

   Liabilitas yang nilai                                                                                    Liabilities for which fair
      wajarnya disajikan:                                                                                   value are disclosed
   Diukur pada biaya perolehan
      diamortisasi                                                                                          At amortized cost
      Simpanan dan simpanan                                                                                    Deposits and deposits
         dari bank lain                 40.950.205                -          40.950.205                 -        from other banks
      Liabilitas akseptasi                  79.880                -              79.880                 -      Acceptance payables
                                                                                                               Securities transaction
     Utang transaksi efek                    86.341               -             86.341                  -        payables
     Surat berharga yang
        diterbitkan                       8.390.304    8.393.792                      -                 -      Securities issued
     Pinjaman yang diterima               2.086.386            -              2.086.386                 -      Loans received

                                                            2022

                                                                   Pengukuran nilai wajar menggunakan
                                                                     Fair value measurement using:
                                   Nilai Tercatat/
                                   Carrying value     Level 1               Level 2           Level 3

   Aset yang diukur pada                                                                                    Assets measured at fair
     nilai wajar:                                                                                             value
   Aset keuangan yang diukur
     pada nilai wajar melalui                                                                               Fair value through profit
     laba rugi                                                                                                 or loss
     Saham                                1.188.508    1.188.508                      -                 -      Shares and warrants
     Obligasi                             6.883.113    6.883.113                      -                 -      Bonds
     Reksadana                            6.346.214    6.346.214                      -                 -      Units of mutual fund
     Aset pemegang polis                                                                                       Segregated funds net
         unit link                      25.791.774    25.791.774                      -                 -          assets - unit link
     Tagihan Derivatif                       6.772         6.772                                               Derivative receivables
   Aset keuangan yang diukur
     pada nilai wajar melalui                                                                               At fair value through other
     penghasilan                                                                                               comprehensive
     komprehensif lain                                                                                         income
     Saham                               2.554.446     2.554.446                      -                 -      Shares
     Obligasi                           12.781.875    12.781.875                      -                 -      Bonds
     Investasi dalam saham               2.412.492     2.412.492                      -                 -      Investment in shares

   Aset yang nilai wajarnya                                                                                 Asset for which fair values
     disajikan:                                                                                               are disclosed
   Dukur pada biaya perolehan
     diamortisasi                                                                                           At amortized cost
     Penempatan pada Bank                                                                                      Placement with bank
        Indonesia                         3.210.621    3.210.621                      -                 -         Indonesia
     Obligasi                             2.903.004            -              2.903.004                 -      Bonds
     Piutang pembiayaan                                                                                        Multipurpose financing
        multiguna                        1.783.300                -           1.783.300                 -         receivables
     Piutang sewa pembiayaan               250.551                -             250.551                 -      Finance lease receivable
     Kredit yang diberikan              12.698.632                -          12.698.632                 -      Loans



                                                                - 171 -
Page 494
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                        unless otherwise stated)


                                                          2022

                                                                 Pengukuran nilai wajar menggunakan
                                                                   Fair value measurement using:
                                 Nilai Tercatat/
                                 Carrying value     Level 1               Level 2           Level 3

     Tagihan akseptasi                     77.389               -             77.389                  -      Acceptances receivable
     Piutang pembiayaan                                                                                      Working capital financing
        modal kerja skema                                                                                      with factoring scheme
        anjak piutang                   3.591.010               -           3.591.010                 -        receivables
     Aset lain-lain - Setoran                                                                                Other assets - security
        jaminan                           65.798                -             65.798                  -        deposit
     Tagihan atas wesel ekspor            26.103                -             26.103                  -      Export bills receivable
     Refinancing                         316.000                -            316.000                  -      Refinancing

   Liabilitas keuangan yang                                                                               Liabilities measured at fair
      diukur pada nilai wajar                                                                                value
   Aset keuangan yang diukur
      pada nilai wajar melalui                                                                            Fair value through profit
      laba rugi                                                                                              or loss
                                                                                                             Segregated fund contract
     Dana pemegang polis unit link    26.345.175    26.345.175                      -                 -          liabilities - unit link
     Liabilitas derivatif                  7.411         7.411                      -                 -      Devirative liabilities
   Liabilitas yang nilai                                                                                  Liabilities for which fair
      wajarnya disajikan:                                                                                    value are disclosed
   Diukur pada biaya perolehan
      diamortisasi                                                                                        At amortized cost
      Simpanan dan simpanan                                                                                  Deposits and deposits
         dari bank lain               36.547.511                -          36.547.511                 -        from other banks
      Liabilitas akseptasi                78.065                -              78.065                 -      Acceptance payables
                                                                                                             Securities transaction
     Utang transaksi efek                518.318                -            518.318                  -        payables
     Surat berharga yang
        diterbitkan                     7.006.982    7.030.226                      -                 -      Securities issued
     Pinjaman yang diterima             3.687.007            -              3.687.007                 -      Loans received

   Nilai    wajar      instrumen    keuangan    yang                      The fair value of financial instruments traded in
   diperdagangkan di pasar aktif adalah berdasarkan                       active markets is based on quoted market prices at
   kuotasi harga pasar pada tanggal pelaporan. Pasar                      the reporting date. A market is regarded as active if
   dianggap aktif apabila kuotasi harga tersedia                          quoted prices are readily and regularly available
   sewaktu-waktu dan dapat diperoleh secara rutin                         from stock exchange, securities trader, broker,
   dari bursa, pedagang efek atau perantara efek,                         industry group pricing service, or regulatory
   badan penyedia jasa penentuan harga kelompok                           agency, and those prices represent actual and
   industri atau badan pengatur, dan harga tersebut                       regularly occurring market transaction on an arm’s
   mencerminkan transaksi pasar yang aktual dan                           length basis. The quoted market price used for
   rutin dalam suatu transaksi yang wajar. Kuotasi                        financial assets held by the Group is the current bid
   harga pasar yang digunakan untuk aset keuangan                         price. These instruments are included in Level 1.
   yang dimiliki oleh Grup adalah harga penawaran
   (bid price) terkini. Instrumen keuangan seperti ini
   termasuk dalam hirarki Level 1.

   Nilai wajar instrumen keuangan yang tidak                             The fair value of financial instruments that are not
   diperdagangkan di pasar aktif ditentukan                              traded in an active market is determined by using
   menggunakan teknik penilaian. Teknik penilaian ini                    valuation techniques. These valuation techniques
   memaksimalkan penggunaan data pasar yang                              maximize the use of observable market data where
   dapat diobservasi yang tersedia dan sesedikit                         it is available and rely as little as possible on
   mungkin mengandalkan estimasi spesifik yang                           entity’s specific estimates. If all significant inputs
   dibuat oleh entitas. Jika seluruh input signifikan                    required to fair value an instrument are observable,
   yang dibutuhkan untuk menentukan nilai wajar                          the instrument is included in hierarcy Level 2.
   dapat diobservasi, maka instrumen tersebut
   termasuk dalam hierarki Level 2.

   Jika satu atau lebih input signifikan tidak diambil                    If one or more of the significant inputs is not based
   dari data pasar yang dapat diobservasi, maka                           on observable market data, the instrument is
   instrumen tersebut termasuk dalam hirarki                              included in hierarchy Level 3.
   Level 3.

   Teknik penilaian yang digunakan untuk mengukur                         Valuation technique used to measure fair value
   estimasi nilai wajar Level 2 dan Level 3 adalah                        estimates of level 2 and level 3 is the discounted
   analisa arus kas diskonto.                                             cash flow analysis.


                                                              - 172 -
Page 495
 PT SINAR MAS MULTIARTHA TBK                                                               PT SINAR MAS MULTIARTHA TBK
 DAN ENTITAS ANAK                                                                                        AND SUBSIDIARIES
 Catatan atas Laporan Keuangan Konsolidasian                                  Notes to the Consolidated Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                        For the Years Ended
 31 Desember 2023 dan 2022                                                                       December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                                       (Figures are Presented in Millions Rupiah,
 kecuali dinyatakan lain)                                                                           unless otherwise stated)


52.   Perjanjian dan Ikatan                                               52. Agreements and Contracts

      Perusahaan menandatangani Perjanjian Kerjasama                         The Company signed a Cooperation Agreement for
      Penyediaan Jasa Layanan Informasi dengan PT                            the Provision of Information Services with PT Indo
      Indo Fin Tek (IFT). Perjanjian kerjasama tersebut                      Fin Tek (IFT). The cooperation agreement includes
      mencakup jasa layanan informasi yang akan                              information services that will be provided by the
      disediakan Perusahaan berdasarkan permintaan                           Company based on requests for information
      pemeriksaan informasi yang dilakukan oleh IFT                          inspection conducted by IFT through SMMA Cloud
      melalui SMMA Cloud dan biaya jasa layanan                              and information service fees. This agreement can
      informasi. Perjanjian ini dapat diakhiri efektif secara                be terminated effectively directly based on the
      langsung berdasarkan perjanjian tertulis kedua                         written agreement of both parties.
      belah pihak.


 53. Komitmen dan Kontinjensi                                         53. Commitments and Contingencies

      a.   BS, entitas anak, memiliki komitmen                               a.      BS, a subsidiary, has commitments on
           pembelian dan penjualan tunai mata uang                                   purchases and sales of foreign currencies
           asing (spot, forward dan swap) yang belum                                 (spot, forward and swap) which have not yet
           diselesaikan pada tanggal 31 Desember 2023                                been realized as at December 31, 2023 and
           dan 2022 adalah sebagai berikut:                                          2022. Details follows:

                                                       2023                   2022

           Pembelian tunai mata uang asing                                                Purchase foreign currencies
             (spot, forward dan swap)                                                       (spot, forward and swap)
                Dolar Amerika Serikat                    515.800                  778.375   U.S Dollar
                Dollar Singapura                           7.696                        -   Singapore Dollar
                Yuan China                                     -                    6.704   Yuan China

           Jumlah                                        523.496                  785.079 Total

           Penjualan tunai mata uang asing                                                Sell foreign currencies
             (spot, forward dan swap)                                                       (spot, forward and swap)
                Dolar Amerika Serikat                  2.546.597                  770.591   U.S Dollar

           Jumlah                                      2.546.597                  770.591 Total


           Pada tanggal 31 Desember 2023 dan 2022,                                 As at December 31, 2023 and 2022, the above
           transaksi spot, forward, dan swap di atas akan                          spot, forward, and swap transactions are
           selesai masing-masing dalam 1 hari sampai 19                            normally settled in 1 day to 19 days, and 1 day
           hari, dan 1 hari sampai 83 hari.                                        to 83 days, respectively.

      b.   BS memiliki tagihan dan liabilitas komitmen                       b.    BS has commitments and contingent
           dan kontinjensi dalam rangka ekspor-impor,                              receivables and liabilities under export-import,
           pemberian garansi dan pemberian kredit                                  guarantees and loans given to the customers
           kepada nasabah dengan rincian sebagai                                   as follows:
           berikut:
                                                       2023                   2022

           Komitmen                                                                       Commitments
           Liabilitas komitmen                                                            Commitment liabilities
              Fasilitas kredit kepada nasabah                                               Unused loan commitments granted
                 yang belum digunakan                    474.753                  348.768      to customers
              Irrevocable letter of credit               103.015                   65.041   Irrevocable letter of credit

           Jumlah                                        577.768                  413.809 Total




                                                                - 173 -
Page 496
PT SINAR MAS MULTIARTHA TBK                                                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                                         unless otherwise stated)


                                                                              2023                          2022

           Kontinjensi                                                                                                 Contingencies
           Tagihan kontinjensi                                                                                         Contingent receivables
              Pendapatan bunga dalam                                                                                   Past due interest
                 penyelesaian                                                          32.112                   86.735   revenues
           Liabilitas kontinjensi                                                                                      Contingent liabilities
              Bank garansi                                                        924.115                    1.344.633   Bank guarantees issued

           Jumlah - bersih                                                       (892.003)                  (1.257.898) Net



   Pada tanggal 31 Desember 2023 dan 2022, saldo                                                           As at December 31, 2023 and 2022, commitment
   transaksi komitmen dan kontinjensi berupa letters                                                       and contingent transactions consisting of letters of
   of credit dan bank garansi dengan pihak berelasi                                                        credit and bank guarantees with related parties
   masing-masing      sebesar    Rp116.355      dan                                                        amounted to Rp116,355 and Rp104,765,
   Rp104.765 (Catatan 49).                                                                                 respectively (Note 49).

   Pada tanggal 31 Desember 2023 dan 2022 jangka                                                           As at December 31, 2023 and 2022 the average
   waktu untuk letter of credit masing-masing berkisar                                                     terms of letters of credit are from 1 month until 5
   antara 1 - 5 bulan, dan 1 - 7 bulan, sedangkan                                                          months and 1 month until 7 months, respectively,
   untuk bank garansi masing-masing berkisar antara                                                        while for bank guarantees are from 1 month until
   1 - 61 bulan dan 1 - 60 bulan.                                                                          61 months and 1 month until 60 months,
                                                                                                           respectively.

   Saldo Letter of Credit yang dijamin dengan jaminan                                                      Letters of credit outstanding secured by cash
   tunai pada tanggal 31 Desember 2023 dan 2022                                                            collateral as at December 31, 2023 and 2022
   masing-masing adalah sebesar Rp191 and                                                                  amounted to Rp191 and Rp3,755, respectively
   Rp3.755.

   Saldo bank garansi yang dijamin dengan jaminan                                                          Bank guarantees secured by cash collateral as at
   tunai pada tanggal 31 Desember 2023 dan 2022                                                            December 31, 2023 and 2022 amounted to
   masing-masing adalah sebesar Rp650.889 dan                                                              Rp650,889 and Rp996,821, respectively.
   Rp996.821.


54. Informasi Segmen                                                                                   54. Segment Information

   Segmen operasi dilaporkan sesuai dengan                                                                 Operating segments are reported in accordance
   pelaporan internal kepada pembuat keputusan                                                             with the internal reporting to the operating decision
   operasional, yang bertanggung jawab atas alokasi                                                        maker who is responsible for the allocation of
   sumber daya ke masing-masing segmen yang                                                                resources to each segment are reported as well as
   dilaporkan serta menilai kinerja masing-masing                                                          assess the performace of each segment.
   segmen tersebut.
                                                                                            2023

                                                                                                         Jasa
                                                                                                     penjaminan
                                                                        Pembiayaan                     emisi dan
                                                                         konsumen,                     perantara
                                                                        Piutang sewa                   pedagang
                                                                        pembiayaan                     efek serta
                                                                          dan anjak                  jasa manajer
                                                                           piutang/                    investasi/
                                                                        Multipurpose    Jasa biro        Stock                 Pembangunan,     Jumlah                           Jumlah
                                                                         Financing,    administrasi   Brokerage,               Perdagangan,    sebelum                           setelah
                                                          Underwriting Finance Lease,     efek/      Underwriting                dan Jasa/     eliminasi/                       eliminasi/
                                               Induk        asuransi/      Working      Securities        and                    Property,        Total                            Total
                                            Perusahaan/    Insurance       Capital    Administration investment     Perbankan/ Trading, and      before       Eliminasi/           after
                                           The Company    Underwriting    Financing        Fee         Manager       Banking      Service     elimination    Elimination       elimination

   Pendapatan operasional.
   Operating income                                   -     18.101.813             -         7.919       486.109             -      14.246      18.610.087        (16.078)       18.594.009
   Pendapatan bunga dan bagi hasil/
   Interest and profit sharing income            24.482      1.245.381     1.038.276               -      11.412     3.485.262      69.268       5.874.081        (21.311)        5.852.770
   Keuntungan (kerugian) penjualan
       investasi jangka pendek – bersih/
   Gain (loss) on sale short term
       investment - net                         300.542      (348.171)     (317.135)               -       1.599       (7.725)     (10.053)      (380.943)                 -       (380.943)
   Keuntungan dari investasi pada unit
       reksa dana/
   Gain on investments in units of
       mutual fund                               29.415       476.240              -               -      48.151       79.476      179.907         813.189                 -        813.189
   Keuntungan kurs mata uang
       asing - bersih/
   Gain on foreign exchange - net                61.303         14.922         1.211               -       (390)      249.819           (2)        326.863       (129.270)          197.593




                                                                                          - 174 -
Page 497
PT SINAR MAS MULTIARTHA TBK                                                                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                                               For the Years Ended
31 Desember 2023 dan 2022                                                                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                                                  unless otherwise stated)


                                                                                                   2023

                                                                                                             Jasa
                                                                                                         penjaminan
                                                                            Pembiayaan                     emisi dan
                                                                             konsumen,                     perantara
                                                                            Piutang sewa                   pedagang
                                                                            pembiayaan                     efek serta
                                                                              dan anjak                  jasa manajer
                                                                               piutang/                    investasi/
                                                                            Multipurpose    Jasa biro        Stock                      Pembangunan,           Jumlah                             Jumlah
                                                                             Financing,    administrasi   Brokerage,                    Perdagangan,          sebelum                             setelah
                                                              Underwriting Finance Lease,     efek/      Underwriting                     dan Jasa/           eliminasi/                         eliminasi/
                                                Induk           asuransi/      Working      Securities        and                         Property,              Total                              Total
                                             Perusahaan/       Insurance       Capital    Administration investment          Perbankan/ Trading, and            before         Eliminasi/           after
                                            The Company       Underwriting    Financing        Fee         Manager            Banking      Service           elimination      Elimination       elimination

   Penyisihan (pemulihan)
      penurunan nilai efek-efek/
   Gain (loss) in changing in fair value
      of securities                                       -      (257.263)               -                -          622         (11.934)        293.921            25.346                  -         25.346
   Bagian laba pada
      entitas asosiasi/
   Gain on sale of investment                    1.396.094          57.054          1.766           3.007           (202)               -         74.083         1.531.802      (1.458.560)           73.242
   Pendapatan administrasi
      dan komisi/
   Administration fee and commission                      -              -       141.887                  -             -        588.891               -          730.778          (52.082)          678.696
   Penjualan/Sales                                        -              -             -                  -             -              -         441.272          441.272                 -          441.272
   Pendapatan lain-lain/
   Others income                                    98.743       (206.404)       395.617            1.499         60.708          50.364         293.074          693.601         (439.567)          254.034

   Jumlah pendapatan/
   Total income                                  1.910.579      19.083.572      1.261.622         12.425         608.009       4.434.153       1.355.716       28.666.076       (2.116.868)       26.549.208

   Beban operasional/
   Operating expenses                                     -     16.754.961               -                -             -               -               -      16.754.961           (2.374)       16.752.587
   Gaji dan tunjangan karyawan/
   Salaries and employee benefit                    22.641        679.282        243.527            4.563        108.983       1.011.610         106.048         2.176.654                  -      2.176.654
   Umum dan adminstrasi/
   General and administrative                       36.868        610.224        301.025            1.695        180.180       1.480.288         156.555         2.766.835        (528.003)        2.238.832
   Bunga dan bagi hasil/
   Interest and profit sharing expenses           508.288             854        618.160                  -        1.645         905.953          11.998         2.046.898         (73.840)        1.973.058
   Kerugian kurs mata uang
       asing – bersih/
   Losses on foreign exchange - net                 86.999          41.799            473                 -             -              7              (7)         129.271         (129.270)                   1
   Beban kerugian penurunan nilai
       aset keuangan dan non keuangan/
   Provision for impairment losses on finance
       asset and non financial asset              109.604           11.199       454.887                  -             -        935.548          13.770         1.525.008                  -      1.525.008
   Beban pokok penjualan/
   Cost of goods sold                                    -               -              -              -               -               -         449.330          449.330                 -          449.330
   Beban lain-lain/Others expenses                   6.925           5.502         58.841            181              61          16.816          75.914          164.240          (14.760)          149.480

   Jumlah beban operasional/
   Total expenses                                 771.325       18.103.821      1.676.913           6.439        290.869       4.350.222         813.608       26.013.197         (748.247)       25.264.950

   Laba sebelum pajak/
   Income (losses) before tax                    1.139.254        979.751       (415.291)           5.986        317.140          83.931         542.108         2.652.879      (1.368.621)        1.284.258
   Beban pajak/Tax benefit (expense)                (6.846)       (24.647)       (11.200)           (405)        (74.853)          2.219          16.032           (99.700)           4.157          (95.543)

   Laba bersih/Net income                        1.132.408        955.104       (426.491)           5.581        242.287          86.150         558.140         2.553.179      (1.364.464)        1.188.715




   Aset segmen/Segment assets                    6.548.621      41.128.529      6.454.876         21.762       1.731.689      51.978.814       8.450.085      116.314.376       (6.216.314)      110.098.062
   Investasi dalam saham/
   Investment in shares                         21.846.065        744.625        405.870         325.527          35.259                -      1.192.784       24.550.130      (21.200.325)        3.349.805
   Aset yang tidak dialokasikan/
   Unallocated assets                                4.110        182.903          50.813            342         (13.973)        214.792          79.156          518.143                   -        518.143

   Jumlah aset/Total assets                     28.398.796      42.056.057      6.911.559        347.631       1.752.975      52.193.606       9.722.025      141.382.649      (27.416.639)      113.966.010


   Liabilitas segmen/
   Segment liabilities                           4.912.996      35.437.550      5.459.687           3.722        201.602      44.771.829       4.551.760       95.339.146       (6.330.994)       89.008.152
   Liabilitas yang tidak dialokasikan/
   Unallocated liabilities                             567          35.420          4.916            234          10.176          51.399          26.600          129.312                   -        129.312

   Jumlah liabilitas /Total liabilities          4.913.563      35.472.970      5.464.603           3.956        211.778      44.823.228       4.578.360       95.468.458       (6.330.994)       89.137.464



   * Aset segmen tidak termasuk pajak dibayar dimuka dan aset pajak tangguhan, sedangkan liabilitas segmen tidak termasuk utang pajak dan liabilitas pajak tangguhan/
   *Segment assets are excluded prepaid tax and deferred tax asset whereas segment liabilities are excluded taxes payable and deferred tax liabilities


                                                                                                     2022

                                                                                                        Jasa penjaminan
                                                                            Pembiayaan                     emisi dan
                                                                             konsumen,                     perantara
                                                                            Piutang sewa                   pedagang
                                                                            pembiayaan                     efek serta
                                                                              dan anjak                  jasa manajer
                                                                               piutang/                    investasi/
                                                                            Multipurpose    Jasa biro        Stock                 Pembangunan,                Jumlah                             Jumlah
                                                                             Financing,    administrasi   Brokerage,               Perdagangan,               sebelum                             setelah
                                                              Underwriting Finance Lease,     efek/      Underwriting                dan Jasa/                eliminasi/                         eliminasi/
                                                Induk           asuransi/      Working      Securities        and                    Property,                   Total                              Total
                                             Perusahaan/       Insurance       Capital    Administration investment     Perbankan/ Trading, and                 before         Eliminasi/           after
                                            The Company       Underwriting    Financing        Fee         Manager       Banking      Service                elimination      Elimination       elimination

   Pendapatan operasional.
   Operating income                                       -     23.267.604               -          6.585        488.034                -         24.292       23.786.515           29.593        23.816.108
   Pendapatan bunga dan bagi hasil/
   Interest and profit sharing income               20.796       1.290.988      1.023.722              82         37.186       3.276.660          25.707         5.675.141         (31.602)        5.643.539
   Keuntungan (kerugian) penjualan
       investasi jangka pendek – bersih/
   Gain (loss) on sale short term
       investment - net                           (34.919)        925.307        (10.378)                 -        1.992          18.199        (19.493)          880.708                   -        880.708




                                                                                                - 175 -
Page 498
 PT SINAR MAS MULTIARTHA TBK                                                                                                        PT SINAR MAS MULTIARTHA TBK
 DAN ENTITAS ANAK                                                                                                                                 AND SUBSIDIARIES
 Catatan atas Laporan Keuangan Konsolidasian                                                                           Notes to the Consolidated Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                                                                 For the Years Ended
 31 Desember 2023 dan 2022                                                                                                                December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                                                                                (Figures are Presented in Millions Rupiah,
 kecuali dinyatakan lain)                                                                                                                    unless otherwise stated)


                                                                                                        2022

                                                                                                            Jasa penjaminan
                                                                                Pembiayaan                     emisi dan
                                                                                 konsumen,                     perantara
                                                                                Piutang sewa                   pedagang
                                                                                pembiayaan                     efek serta
                                                                                  dan anjak                  jasa manajer
                                                                                   piutang/                    investasi/
                                                                                Multipurpose    Jasa biro        Stock                 Pembangunan,               Jumlah                            Jumlah
                                                                                 Financing,    administrasi   Brokerage,               Perdagangan,              sebelum                            setelah
                                                                  Underwriting Finance Lease,     efek/      Underwriting                dan Jasa/               eliminasi/                        eliminasi/
                                                    Induk           asuransi/      Working      Securities        and                    Property,                  Total                             Total
                                                 Perusahaan/       Insurance       Capital    Administration investment     Perbankan/ Trading, and                before        Eliminasi/           after
                                                The Company       Underwriting    Financing        Fee         Manager       Banking      Service               elimination     Elimination       elimination

      Keuntungan dari investasi pada unit
         reksa dana/
              Gain on investments in units of
         mutual fund                                    75.294        711.233          9.678            611          11.751          11.189         100.588          920.344                  -        920.344
      Keuntungan kurs mata uang
         asing - bersih/
      Gain on foreign exchange - net                    80.296         66.206            314                -        28.279          52.220               8          227.323          13.869           241.192
      Penyisihan (pemulihan)
         penurunan nilai efek-efek/
      Gain (loss) in changing in fair value
         of securities                                        -      (746.674)     (313.553)                -         4.550                -         (9.214)      (1.064.891)                 -     (1.064.891)
      Bagian laba pada
         entitas asosiasi/
      Gain on sale of investment                       583.598         16.066          9.151           7.720               -               -          6.603          623.138        (602.880)           20.258
      Pendapatan administrasi
         dan komisi/
      Administration fee and commission                       -              -      189.896                 -              -        665.470               -          855.366         (32.221)          823.145
      Penjualan/Sales                                         -              -            -                 -              -              -         194.352          194.352                -          194.352
      Pendapatan lain-lain/
      Others income                                    148.870        202.468         66.355            115          36.502          34.903         281.525          770.738        (122.277)          648.461

      Jumlah pendapatan/
      Total income                                     873.935      25.733.198      975.185          15.113         608.294       4.058.641         604.368       32.868.734        (745.518)       32.123.216

      Beban operasional/
      Operating expenses                                      -     23.900.871              -               -              -               -               -      23.900.871                  -     23.900.871
      Gaji dan tunjangan karyawan/
      Salaries and employee benefit                     22.743        587.427       243.274            4.589         94.392         903.294         106.261         1.961.980                 -      1.961.980
      Umum dan adminstrasi/
      General and administrative                        25.498        542.360       165.679            1.556        153.031       1.405.171         175.816         2.469.111       (435.662)        2.033.449
      Bunga dan bagi hasil/
      Interest and profit sharing expenses             275.919            116       655.955                 -         2.982         780.379           3.088         1.718.439        (54.269)        1.664.170
      Kerugian kurs mata uang
          asing – bersih/
      Losses on foreign exchange - net                        -       (14.047)            (6)               -              -               -            186          (13.867)         13.869                    2
      Beban kerugian penurunan nilai
          aset keuangan dan non keuangan/
      Provision for impairment losses on financial
          asset and non financial asset                 32.061            566       176.815               87               -        666.843           6.408          882.780                  -        882.780
      Beban pokok penjualan/
      Cost of goods sold                                     -              -              -              -               -               -         271.912          271.912                -          271.912
      Beban lain-lain/Others expenses                   17.973         41.655         31.515            143          12.475          25.743          41.921          171.425         (10.993)          160.432

      Jumlah beban operasional/
      Total expenses                                   374.194      25.058.948     1.273.232           6.375        262.880       3.781.430         605.592       31.362.651        (487.055)       30.875.596

      Laba sebelum pajak/
      Income (losses) before tax                       499.741         674.250     (298.047)           8.738        345.414         277.211          (1.224)        1.506.083       (258.463)        1.247.620
      Beban pajak/Tax benefit (expense)                 (3.574)      (176.535)      (57.124)             (69)       (73.093)        (56.051)         16.974         (349.472)           4.157        (345.315)

      Laba bersih/Net income                           496.167        497.715      (355.171)           8.669        272.321         221.160          15.750         1.156.611       (254.306)          902.305


      Aset segmen/Segment assets                      7.677.003     45.828.716     7.671.087         20.376       2.138.514      46.788.091       7.506.720      117.630.507      (6.649.442)      110.981.065
      Investasi dalam saham/
      Investment in shares                           19.323.469       599.468       214.389         248.039          27.787                -      1.126.420       21.539.572     (18.497.504)        3.042.068
      Aset yang tidak dialokasikan/
      Unallocated assets                                  2.831        60.041         69.302            726           6.014         197.140          47.616          383.670                  -        383.670

      Jumlah aset/Total assets                       27.003.303     46.488.225     7.954.778        269.141       2.172.315      46.985.231       8.680.756      139.553.749     (25.146.946)      114.406.803


      Liabilitas segmen/
      Segment liabilities                             4.638.622     40.190.291     7.064.705           5.657        610.553      39.921.746       3.833.943       96.265.517      (5.930.496)       90.335.021
      Liabilitas yang tidak dialokasikan/
      Unallocated liabilities                              142        162.308          7.003            168          51.201         158.846          17.054          396.722                  -        396.722

      Jumlah liabilitas /Total liabilities            4.638.764     40.352.599     7.071.708           5.825        661.754      40.080.592       3.850.997       96.662.239      (5.930.496)       90.731.743



      * Aset segmen tidak termasuk pajak dibayar dimuka dan aset pajak tangguhan, sedangkan liabilitas segmen tidak termasuk utang pajak dan liabilitas pajak tangguhan/
      *Segment assets are excluded prepaid tax and deferred tax asset whereas segment liabilities are excluded taxes payable and deferred tax liabilities




55.   Tujuan dan                        Kebijakan           Manajemen               Risiko                      55. Financial Risk Management Objectives and
      Keuangan                                                                                                      Policies

      Aktivitas Grup terpengaruh berbagai risiko                                                                      The Group’s activities are exposed to a variety of
      keuangan: risiko pasar (termasuk risiko mata uang                                                               financial risks: market risk (including currency risk,
      asing, risiko suku bunga dan risiko harga), risiko                                                              interest rate risk and price risk), credit risk and
      kredit dan risiko likuiditas. Program manajemen                                                                 liquidity risk. The Group’s overall risk management
      risiko Grup secara keseluruhan difokuskan pada                                                                  programme focuses on the unpredictability of
      pasar keuangan yang tidak dapat diprediksi dan                                                                  financial markets and seeks to minimize potential
      Grup menjalankan kegiatan operasional secara                                                                    adverse effects on the Group’s financial
      hati-hati untuk meminimalkan efek yang berpotensi                                                               performance.
      merugikan kinerja keuangan Grup.

                                                                                                   - 176 -
Page 499
PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                        unless otherwise stated)


   Manajemen risiko merupakan tanggung jawab                              Risk management is the responsibility of the Board
   Direksi. Direksi bertugas menentukan prinsip dasar                     of Directors (BOD). The BOD has the responsibility
   kebijakan manajemen risiko Grup secara                                 to determine the basic principles of the Group’s risk
   keseluruhan serta kebijakan pada area tertentu                         management as well as principles covering specific
   seperti risiko mata uang asing, risiko suku bunga,                     areas, such as foreign exchange risk, interest rate
   risiko harga, risiko kredit, risiko likuiditas, risiko                 risk, price risk, credit risk,liquidity risk, legal risk,
   hukum, risiko strategis dan risiko operasional.                        strategic risk and operasional risk.

   Dalam pelaksanaannya, penerapan manajemen                              In practice, implementation of risk management of
   risiko Grup meliputi pengawasan aktif manajemen,                       the Group includes active supervision of
   penerapan kebijakan dan prosedur, penetapan limit                      management, implementation of policies and
   risiko, proses identifikasi, pengukuran dan                            procedures, risk limits, the process of identification,
   pemantauan risiko, penerapan sistem informasi                          measurement        and      monitoring     of     risk,
   dan pengendalian risiko serta sistem pengendalian                      implementation of information systems and control
   internal.                                                              risk and internal control systems.

   Risiko Kredit                                                          Credit Risk

   Risiko kredit adalah risiko bahwa Grup akan                            Credit risk is the risk that the Group will incur a loss
   mengalami kerugian yang timbul dari pelanggan                          arising from the customers or counterparties which
   atau pihak lawan akibat gagal memenuhi liabilitas                      fail to fulfill their contractual obligations. The Group
   kontraktualnya. Grup mengendalikan risiko kredit                       manages and controls the credit risk by dealing
   dengan cara melakukan hubungan usaha dengan                            only with recognized and credit worthy parties,
   pihak lain yang memiliki kredibilitas, menganalisa                     setting internal policies on verifications and
   risiko kredit pelanggan baru sebelum persyaratan                       authorizations of credit, and regularly monitoring
   pembayaran        dan    distribusi      ditawarkan,                   the collectibility of receivables to reduce the
   menetapkan kebijakan verifikasi dan otorisasi                          exposure to bad debts.
   kredit, serta memantau kolektibilitas pinjaman yang
   diberikan dan piutang secara berkala untuk
   mengurangi jumlah piutang tak tertagih.

   Kualitas kredit baik yang belum jatuh tempo atau                       The credit quality of financial assets that are
   tidak mengalami penurunan nilai dapat dinilai                          neither past due nor impaired can be assessed by
   dengan mengacu pada informasi historis mengenai                        reference    to   historical  information  about
   tingkat gagal bayar debitur:                                           counterparty default rates:

                                                              2023

                                                        Jatuh tempo
                                                      dan mengalami
                                     Belum jatuh      penurunan nilai/
                                       Tempo/          Past due and               Jumlah/
                                     Not past due         impaired                 Total

   Kas dan bank                          9.535.094                    -             9.535.094   Cash and cash in banks
   Investasi jangka pendek              62.919.564              175.445            63.095.009   Short-term investments
   Piutang pembiayaan multiguna          1.440.434               70.967             1.511.401   Multipurpose financing receivables
   Piutang pembiayaan sewa                 189.322                    -               189.322   Finance lease receivables
   Piutang pembiayaan modal kerja                                                               Working capital financing with
      skema anjak piutang                2.683.787                    -             2.683.787      factoring scheme receivables
   Kredit yang diberikan                15.521.836            1.254.887            16.776.723   Loans
   Tagihan akseptasi                        78.304                1.560                79.864   Acceptances receivable
   Piutang transaksi efek                  154.722                    -               154.722   Securities transaction receivables
   Piutang lain - lain                   2.982.864                  414             2.983.278   Other receivables
   Aset lain-lain                           81.477                    -                81.477   Other assets

   Jumlah                               95.587.404            1.503.273            97.090.677 Total




                                                            - 177 -
Page 500
PT SINAR MAS MULTIARTHA TBK                                                                              PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                       AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                 Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                       For the Years Ended
31 Desember 2023 dan 2022                                                                                      December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                      (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                          unless otherwise stated)


                                                                              2022

                                                                      Jatuh tempo
                                                                    dan mengalami
                                           Belum jatuh              penurunan nilai/
                                             Tempo/                  Past due and                     Jumlah/
                                           Not past due                 impaired                       Total

   Kas dan bank                                    6.624.781                           -               6.624.781      Cash and cash in banks
   Investasi jangka pendek                        66.194.734                     497.595              66.692.329      Short-term investments
   Piutang pembiayaan multiguna                    1.698.692                     971.631               2.670.323      Multipurpose financing receivables
   Piutang pembiayaan sewa                           250.979                      31.423                 282.402      Finance lease receivables
   Piutang pembiayaan modal kerja                                                                                     Working capital financing with
      skema anjak piutang                          3.585.229                        5.781              3.591.010         factoring scheme receivables
   Kredit yang diberikan                          13.569.163                    1.254.887             14.824.050      Loans
   Tagihan akseptasi                                  77.389                          593                 77.982      Acceptances receivable
   Piutang transaksi efek                            584.186                          777                584.963      Securities transaction receivables
   Piutang lain - lain                             2.147.495                       73.053              2.220.548      Other receivables
   Aset lain-lain                                     52.474                            -                 52.474      Other assets

   Jumlah                                         94.785.122                    2.835.740             97.620.862 Total




   Berikut   adalah     laporan      posisi             keuangan                            The table below shows consolidated statement of
   konsolidasian yang terkait risiko kredit:                                                financial position exposures related to credit risk:
                                             2023                                                          2022

                                  Jumlah bruto/                Jumlah neto/           Jumlah bruto/               Jumlah neto/
                                  Gross amount                  Net amount            Gross amount                 Net amount

   Diukur pada nilai wajar                                                                                                          At fair value through profit
      melalui laba rugi                                                                                                                 and loss
   Investasi jangka pendek                                                                                                          Short-term investment - securities
      - efek-efek - saham                1.458.977                  1.458.977                  1.188.508                1.188.508       - shares and warrants
   Investasi jangka pendek                                                                                                          Short-term investment -
      - efek-efek - obligasi             3.739.540                  3.739.540                  6.883.113                6.883.113       securities - bonds
   Investasi jangka pendek                                                                                                          Short-term investment - securities
      - efek-efek - reksadana            7.521.198                  7.521.198                  6.346.214                6.346.214       units of mutual fund
   Investasi jangka pendek                                                                                                          Short-term investment
      - aset pemegang unit                                                                                                              - securities unit link
      link - reksadana                  20.177.065                 20.177.065                 25.791.774               25.791.774   - units of mutual fund
   Diukur pada nilai wajar
      melalui penghasilan                                                                                                           At fair value through other
      komprehensif lain                                                                                                                 comprehensive income
   Investasi jangka pendek                                                                                                          Short-term investment - securities
      - efek-efek - saham                2.158.221                  2.158.221                  2.554.446                2.554.446       shares
   Investasi jangka pendek                                                                                                          Short-term investment - securities
      - efek-efek - obligasi            14.371.536                 14.371.536                 12.781.875               12.781.875       bonds
   Investasi dalam saham                 3.059.070                  3.059.070                  2.412.492                2.412.492   Investment in shares
   Diukur pada biaya perolehan
      diamortisasi                                                                                                                  At amortized cost

   Kas dan bank                          9.535.094                  9.533.705                  6.624.781                6.623.632   Cash and cash in banks
   Investasi jangka pendek                                                                                                          Short-term investment
      - penempatan pada                                                                                                                - placement
      bank lain                          6.589.645                  6.589.633                  4.802.974                4.802.861      with other banks
   Investasi jangka pendek                                                                                                          Short-term investment - time
      - deposito berjangka               3.406.268                  3.406.268                  3.259.823                3.259.823      deposits
   Investasi jangka pendek                                                                                                          Short-term investment
      - efek-efek - tagihan                                                                                                            - securities export bill
      atas wesel ekspor                     39.147                     39.147                    26.103                    26.103      receivables
   Investasi jangka pendek                                                                                                          Short-term investment - securities
      - efek-efek - refinancing             11.000                     11.000                   316.000                   316.000      - refinancing
   Piutang pembiayaan
      multiguna                          1.511.401                  1.436.025                  1.864.635                1.783.300   Multipurpose financing receivables
   Piutang sewa pembiayaan                 189.322                    175.297                    262.337                  250.551   Finance lease receivables
   Piutang pembiayaan                                                                                                               Working capital financing with
      modal kerja skema                                                                                                                factoring scheme
      anjak piutang                      2.683.787                  2.513.515                  3.762.164                3.591.010      receivables
   Piutang transaksi efek                  154.722                    154.722                    584.186                  584.186   Securities transaction receivables
   Piutang lain-lain                     2.983.278                  2.982.864                  5.048.570                5.048.570   Other account receivable
   Tagihan akseptasi                        79.864                     78.304                     77.982                   77.389   Acceptances receivable
   Kredit yang diberikan                16.776.723                 15.086.293                 14.824.050               12.698.632   Loans
   Aset lain-lain                           81.477                     81.477                     52.474                   52.474   Other assets

   Jumlah Aset Keuangan                 96.527.335                 94.573.857                 99.464.501               97.072.953   Total Financial Assets




                                                                         - 178 -
Page 501
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


   Risiko Pasar                                                     Market Risk

   Risiko pasar merupakan nilai wajar atau arus kas                 Market risk is the risk that the fair value or future
   kontraktual masa datang dari suatu instrumen                     contractual cash flows of a financial instrument
   keuangan yang dimiliki oleh Grup akan                            held by the Group will be affected due to changes
   terpengaruh akibat perubahan variabel pasar                      in market variables such as interest rates,
   seperti suku bunga, nilai tukar, termasuk turunan                exchange rates, including derivatives of both risks
   dari kedua risiko tersebut (risiko instrumen                     (risks of derivative instruments).
   derivatif).

   a.   Risiko Suku Bunga                                           a.   Interest rate risk

        Risiko suku bunga Grup timbul dari kredit,                       The Group’s interest rate risk arises from
        simpanan dan simpanan dari bank lain dan                         loans, deposits and deposits from other banks
        pinjaman yang diterima. Kredit, simpanan dan                     and loans received. Loans, deposits and
        simpanan dari bank lain dan pinjaman yang                        deposits from other banks and loans received
        diterima dengan suku bunga mengambang                            at floating rates expose the Group to cash flow
        mengakibatkan timbulnya risiko suku bunga                        interest rate risk. Financial assets and financial
        arus kas terhadap Grup. Aset keuangan dan                        liabilities at fixed rates expose the Group to fair
        liabilitas keuangan dengan suku bunga tetap                      value interest rate risk.
        mengakibatkan timbulnya risiko nilai wajar
        suku bunga terhadap Grup.

        Pada akhir tahun pelaporan, kredit, simpanan                     As at the end of the reporting year, the Group
        dan simpanan dari bank lain dan pinjaman                         has the following floating rate loans, deposits
        yang   diterima    dengan     suku     bunga                     and deposits from other banks and loans
        mengambang adalah sebagai berikut:                               received.

                                                 2023                2022

        Aset                                                                   Assets
        Kredit diberikan                          7.165.928          6.261.883 Loans

        Liabilitas                                                             Liabilities
        Simpanan dan simpanan                                                  Deposits and deposits from
          dari bank lain                         25.149.192         23.309.914   other banks
        Pinjaman yang diterima                      279.917          2.364.782 Loans received

        Grup menganalisa eksposur suku bunga                             The Group analyzes its interest rate exposure
        secara     dinamis.      Berbagai     skenario                   on a dynamic basis. Various scenarios are
        disimulasikan dengan mempertimbangkan                            simulated       taking     into    consideration
        pembiayaan kembali, pembaruan posisi yang                        refinancing, renewal of existing positions,
        ada, serta alternatif pembiayaan. Untuk setiap                   alternative financing. For each simulation, the
        simulasi, pergerakan suku bunga yang sama                        same interest rate is used for all currencies.
        digunakan untuk seluruh mata uang.                               Based on these scenarios, the Group
        Berdasarkan skenario ini, Grup menghitung                        calculates the impact on profit or loss of a
        dampak laba atau rugi dari pergerakan suku                       defined interest rate shift. The scenarios are
        bunga. Skenario-skenario tersebut dilakukan                      applied only for liabilities that represent the
        hanya untuk liabilitas yang mewakili posisi                      major interest-bearing positions.
        utama yang dikenakan bunga.

        Pada tanggal 31 Desember 2023 dan 2023,                          As at December 31, 2023 and 2022, if interest
        jika suku bunga atas kredit, simpanan dan                        rates on loans, deposits and deposits from
        simpanan dari bank lain dan pinjaman yang                        other banks and loans received had been 1%
        diterima didenominasikan dalam Rupiah lebih                      higher/lower with all other variables held
        tinggi/rendah 1% dan variabel lain dianggap                      constant, profit before tax during the
        tetap, laba setelah pajak untuk tahun                            period/year would have been higher/lower
        periode/tahun berjalan akan lebih tinggi/rendah                  amounting to Rp16,427 and Rp16,297,
        masing-masing sebesar Rp16.427, dan                              respectively, mainly as a result of higher/lower
        Rp16.297, terutama sebagai akibat tingginya/                     interest income and interest expense on loans
        rendahnya pendapatan bunga dari kredit dan                       and loans received with floating interest rates.
        beban bunga dari pinjaman dengan suku
        bunga mengambang.


                                                          - 179 -
Page 502
PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                  AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                            Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                 December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                 (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                     unless otherwise stated)


   b.   Risiko Mata Uang Asing                                          b.    Foreign currency risk

        Grup terpengaruh risiko nilai tukar mata uang                        The Group is exposed to foreign exchange risk
        asing yang timbul dari berbagai eksposur mata                        arising from various currency exposures,
        uang, terutama terhadap Dolar Amerika                                primarily with respect to the U.S. Dollar.
        Serikat. Risiko nilai tukar mata uang asing                          Foreign exchange risk arises from future
        timbul dari transaksi komersial di masa depan                        commercial transactions and recognized
        serta aset dan liabilitas yang diakui.                               assets and liabilities.

        Manajemen telah menetapkan kebijakan yang                            Management has set up a policy to require
        mengharuskan Grup mengelola risiko nilai                             Group to manage the foreign exchange risk
        tukar mata uang asing terhadap mata uang                             against their functional currency. Foreign
        fungsionalnya. Risiko nilai tukar mata uang                          exchange risk arises when future commercial
        asing timbul ketika transaksi komersial masa                         transactions or recognized assets or liabilities
        depan atau aset dan liabilitas yang diakui                           are denominated in a currency that is not the
        didenominasikan dalam mata uang yang                                 entity’s functional currency. The risk is
        bukan mata uang fungsional. Risiko diukur                            measured using cash flow forecasts.
        dengan menggunakan proyeksi arus kas.

        Pada tanggal 31 Desember 2023 dan 2022,                              As at December 31, 2023 and 2022, if the
        jika mata uang melemah/menguat sebesar 5%                            currency had weakened/ strengthened by 5%,
        terhadap Dolar Amerika Serikat dengan                                against the U.S. Dollar with all other variables
        variabel lain konstan, laba setelah pajak untuk                      held constant, post-tax profit for the year
        tahun berjalan akan lebih tinggi/rendah                              would have been higher/lower amounting to
        masing-masing       sebesar    Rp32.855     dan                      Rp32,855 and Rp96,336 respectively, mainly
        Rp96.336           terutama         diakibatkan                      as a result of foreign exchange gains (losses)
        keuntungan/(kerugian) dari penjabaran aset                           on translation of monetary financial assets and
        keuangan dan liabilitas keuangan.                                    liabilities.

   c.   Risiko Harga                                                   c.    Price risk

        Grup terpengaruh risiko harga efek ekuitas                           The Group is exposed to equity and debt
        dan efek utang karena Grup memiliki investasi                        securities price risk because of investments
        yang diklasifikasikan sebagai diukur padanilai                       held by the Group and classified the
        wajar melalui penghasilan komprehensif lain                          consolidated statements of financial position at
        dan diukur pada nilai wajar melalui laba rugi                        fair value through other comprehensive
        dalam laporan posisi keuangan konsolidasian.                         income and at fair value through profit and
                                                                             loss.

        Untuk mengelola risiko harga yang timbul dari                        To manage its price risk arising from
        investasi efek ekuitas, Grup melakukan                               investments in equity securities, the Group
        diversifikasi portofolio. Diversifikasi portofolio                   diversifies its portfolio. Diversification of the
        dilakukan sesuai dengan batasan yang                                 portfolio is done in accordance with the limits
        ditentukan oleh Grup.                                                set by the Group.

        Grup memiliki investasi pada saham entitas                           The Group has investments in shares of other
        lain yang diperdagangkan di bursa, investasi                         entities that are traded in stock exchange,
        pada unit reksadana dan investasi pada                               investment in units of mutual funds, and
        obligasi    yang     mempunyai      dampak                           investment in debt securities that would have
        kenaikan/penurunan pada laba setelah pajak                           an impact on the increase/decrease on post-
        Grup untuk tahun berjalan dan dampak pada                            tax profit for the period and other equity
        komponen ekuitas lainnya. Dengan asumsi                              component. With assumption if FVPL equity
        bahwa harga efek ekuitas dan efek utang -                            and debt securities price assumption of being
        pada nilai wajar melalui laba rugi telah                             1% higher/lower with all other variables held
        naik/turun sebesar 1% dan seluruh variabel                           constant, post-tax profit in 2023 and 2022
        lain konstan, akan berdampak terhadap laba                           would have been higher/lower by Rp127,197
        setelah pajak untuk tahun 2023 dan                                   and Rp144,181 respectively, while if AFS’




                                                             - 180 -
Page 503
PT SINAR MAS MULTIARTHA TBK                                                                             PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                      AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                                     December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                     (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                         unless otherwise stated)


         2022 lebih tinggi/rendah sebesar Rp127.197                                              equity and debt securities measured through
         dan Rp144.181. Sedangkan apabila harga                                                  other comprehensive income had been 1%
         efek ekuitas dan efek utang - yang diukur                                               higher/lower with all other variables held
         melalui penghasilan komprehensif lain telah                                             constant, other equity component would have
         naik/turun sebesar 1% dan seluruh variabel                                              been higher/lower by Rp176,655 and
         lain konstan, berdampak terhadap komponen                                               Rp153,363, respectively. Post-tax profit for the
         ekuitas lainnya pada tahun 2023 dan 2022                                                year would increase/decrease as a result of
         lebih tinggi/rendah masing-masing sebesar                                               gains (losses) on equity securities classified as
         Rp176.655 dan Rp153.363. Laba setelah                                                   at fair value through profit or loss. Other
         pajak untuk tahun berjalan akan naik/turun                                              components of equity would increase/
         sebagai akibat keuntungan/(kerugian) pada                                               decrease as a result of gains (losses) on
         surat berharga ekuitas yang diukur pada nilai                                           equity securities classified at fair value through
         wajar melalui laba rugi. Komponen ekuitas                                               other comprehensive income.
         lainnya akan naik/turun sebagai akibat
         keuntungan/ (kerugian) pada surat berharga
         ekuitas yang diukur pada nilai wajar melalui
         penghasilan komprehensif lain.

         Untuk mengelola risiko harga yang timbul dari                                             To manage price risk arising from
         investasi pada surat berharga utang, Grup                                                 investments in debt securities, the Group
         melakukan analisa terkait besaran bunga                                                   performs an analysis of the offered interest
         kupon yang ditawarkan dengan tingkat imbal                                                rate of bonds and the required rate of return
         hasil yang diharapkan oleh pasar.                                                         which is generally expected by the market.

   Risiko Likuiditas                                                                       Liquidity Risk

   Risiko likuiditas adalah risiko kerugian yang timbul                                    Liquidity risk is a risk arising when the cash flow
   karena Grup tidak memiliki likuiditas yang cukup                                        position of the Group is not enough to cover the
   untuk memenuhi liabilitasnya.                                                           liabilities which become due.

   Dalam pengelolaan risiko likuiditas, manajemen                                          In the management of liquidity risk, management
   memantau dan menjaga jumlah kas dan setara kas                                          monitors and maintains a level of cash and cash
   yang dianggap memadai untuk membiayai                                                   equivalents deemed adequate to finance the
   operasional Grup dan untuk mengatasi dampak                                             Group’s operations and to mitigate the effects of
   fluktuasi arus kas. Manajemen juga melakukan                                            fluctuation in cash flows. Management also
   evaluasi berkala atas proyeksi arus kas dan arus                                        regularly evaluates the projected and actual cash
   kas aktual, termasuk jadwal jatuh tempo utang, dan                                      flows, including loan maturity profiles, and
   terus-menerus melakukan penelaahan pasar                                                continuously assess conditions in the financial
   keuangan untuk mendapatkan sumber pendanaan                                             markets for opportunities to obtain optimal funding
   yang optimal.                                                                           sources.

   Tabel di bawah ini menganalisa liabilitas keuangan                                      The table below analyzes the Group’s financial
   Grup yang diselesaikan secara neto yang                                                 liabilities into relevant maturity groupings based on
   dikelompokkan berdasarkan periode yang tersisa                                          the remaining period to the contractual maturity
   sampai dengan tanggal jatuh tempo kontraktual.                                          date. The amounts disclosed in the table are the
   Jumlah yang diungkapkan dalam tabel merupakan                                           contractual undiscounted cash flow:
   arus kas kontraktual yang tidak didiskontokan:

                                                                                    2023

                                               > 1 tahun          > 2 tahun                                                  Biaya
                                              s.d 2 tahun/       s.d 5 tahun                                              transaksi/
                             < 1 tahun/         < 1 year             < 2 year              > 5 tahun/       Jumlah/      Transaction       Jumlah/
                              < 1 year         to 2 year            to 5 year               > 5 year         Total           cost           Total

   Liabilitas/Liabilities
   Simpanan dan simpanan
      dari bank lain/
   Deposits and deposits
      from other banks           40.950.205                  -                  -                       -   40.950.205                 -   40.950.205
   Surat berharga yang
      diterbitkan/
   Securities issued                377.200       1.995.884         4.199.300                1.864.719       8.437.103         (46.799)     8.390.304
   Pinjaman yang diterima/
   Loans received                 1.660.764         265.079           169.360                           -    2.095.203          (8.816)     2.086.387




                                                                       - 181 -
Page 504
PT SINAR MAS MULTIARTHA TBK                                                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                         For the Years Ended
31 Desember 2023 dan 2022                                                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                            unless otherwise stated)


                                                                                    2023

                                               > 1 tahun          > 2 tahun                                                  Biaya
                                              s.d 2 tahun/       s.d 5 tahun                                              transaksi/
                             < 1 tahun/         < 1 year             < 2 year              > 5 tahun/       Jumlah/      Transaction       Jumlah/
                              < 1 year         to 2 year            to 5 year               > 5 year         Total           cost           Total

   Liabilitas akseptasi/
   Acceptances payable               79.880                  -                  -                       -      79.880                  -       79.880
   Utang transaksi efek/
   Securities transaction
      payables                       86.341                  -                  -                       -      86.341                  -       86.341
   Beban akrual/
   Accrued expenses                 332.181                  -                  -                       -     332.181                  -      332.181
   Liabilitas lain-lain/
   Other liabilities                476.703                  -                  -                       -     476.703                  -      476.703

   Jumlah Liabilitas/
   Total liabilities             43.963.274       2.260.963         4.368.660                  1.864.719    52.457.616         (55.615)    52.402.001




                                                                                       2022

                                               > 1 tahun          > 2 tahun                                                  Biaya
                                              s.d 2 tahun/       s.d 5 tahun                                              transaksi/
                             < 1 tahun/         < 1 year             < 2 year              > 5 tahun/       Jumlah/      Transaction       Jumlah/
                              < 1 year         to 2 year            to 5 year               > 5 year         Total           cost           Total

   Liabilitas/Liabilities
   Simpanan dan simpanan
      dari bank lain/
   Deposits and deposits
      from other banks           36.547.511                  -                  -                       -   36.547.511                 -   36.547.511
   Surat berharga yang
      diterbitkan/
   Securities issued              1.339.736         465.600         4.154.631                  1.080.000     7.039.967         (37.464)     7.002.503
   Pinjaman yang diterima/
   Loans received                 2.322.389         760.874           617.871                           -    3.701.134         (14.127)     3.687.007
   Liabilitas akseptasi/
   Acceptances payable               78.065                  -                  -                       -      78.065                  -       78.065
   Utang transaksi efek/
   Securities transaction
      payables                      518.318                  -                  -                       -     518.318                  -      518.318
   Beban akrual/
   Accrued expenses                 290.866                  -                  -                       -     290.866                  -      290.866
   Liabilitas lain-lain/
   Other liabilities                270.823                  -                  -                       -     270.823                  -      270.823

   Jumlah Liabilitas/
   Total liabilities             41.367.708       1.226.474         4.772.502                  1.080.000    48.446.684         (51.591)    48.395.093




   Risiko Hukum                                                                               Legal Risk

   Risiko hukum adalah risiko yang timbul dari                                                Legal risk is the risk arising from the weakness of
   kelemahan aspek hukum, antara lain akibat dari                                             the legal aspects, partly as a result of legal action,
   tindakan hukum, tidak adanya peraturan yang                                                the absence of regulations that favor or
   mendukung atau kelemahan dari ketentuan-                                                   disadvantage of the terms of a legally binding, such
   ketentuan yang mengikat secara hukum, seperti                                              as failure to comply with the legal requirements of
   kegagalan untuk mematuhi persyaratan hukum                                                 a treaty and the loophokc in the binding guarantee.
   suatu perjanjian dan celah-celah dalam pengikatan
   jaminan.

   Pelaksanaan     identifikasi, pengukuran, dan                                              Implementation of the identification, measurement,
   pemantauan terhadap potensi risiko hukum                                                   and monitoring of potential legal risks undertaken
   dilaksanakan terhadap seluruh aktivitas Grup,                                              by all the Group's activities, especially the Groups's
   terutama kegiatan operasional Grup dengan                                                  operational activities involving third parties who
   melibatkan pihak ketiga yang memiliki potensi                                              have a conflict of interest or potential litigation.
   benturan kepentingan atau gugatan hukum.

   Dalam rangka mitigasi potensi risiko hukum, Group                                          In order to mitigate potential legal risks, the
   melakukan hal-hal berikut: melakukan kajian                                                Company does the following: conducts studies on
   terhadap kesesuaian perjanjian kerjasama dengan                                            the suitability of cooperation agreements with
   pihak eksternal, menyempurnakan kebijakan dan                                              external parties, refines policies and procedures as
   prosedur sebagai bagian dari mitigasi risiko hukum.                                        part of mitigating legal risks.




                                                                       - 182 -
Page 505
 PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
 DAN ENTITAS ANAK                                                                                     AND SUBSIDIARIES
 Catatan atas Laporan Keuangan Konsolidasian                               Notes to the Consolidated Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
 31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                                    (Figures are Presented in Millions Rupiah,
 kecuali dinyatakan lain)                                                                        unless otherwise stated)


      Dalam rangka pemantauan atas penyelesaian                            In the context of monitoring the settlement of
      terhadap gugatan hukum, unit kerja Legal bagian                      lawsuits, the Legal work unit in the Litigation
      Litigasi melakukan pendampingan dan hadir dalam                      section provides assistance and is present at every
      setiap persidangan/panggilan kepolisian risiko                       legal risk court/police summons.
      hukum.

      Selama 31 Desember 2023 dan 2022 tidak                               During December 31, 2023 and 2022, there is no
      terdapat nominal realisasi kerugian dari gugatan                     nominal realization of losses from existing claims.
      yang ada.

      Risiko Strategis                                                     Strategic Risk

      Risiko strategis adalah risiko yang antara lain                      Strategic risk arises from, among others insufficient
      disebabkan     oleh   adanya   penetapan    dan                      determination and implementation of the Group’s
      pelaksanaan strategi Grup yang tidak tepat,                          strategies, incorrect business decision, or
      pengambilan keputusan bisnis yang tidak tepat                        irresponsiveness to external changes.
      atau   kurang     responsifnya  Grup   terhadap
      perubahan eksternal.

      Grup telah menyusun strategi dan rencana bisnis                      The Group has formulated the business strategies
      yang sebelumnya telah didiskusikan dengan                            and plans based on discussions from the Board of
      Dewan     Komisaris,    Direksi     serta   seluruh                  Commissioners, Directors and all of Group’s
      manajemen Perusahaan. Grup juga melakukan                            management. The Group also reviews, evaluates
      kajian dan evaluasi stratejik bisnis serta realisasi                 business strategy and its realization achieved by
      yang telah dicapai oleh Grup sesuai dengan yang                      the Company based on Group’s Business Plan.
      terangkum dalam rencana bisnis.

      Risiko Operasional                                                   Operational Risk

      Risiko operasional adalah risiko yang timbul dari                    Operational risk arises from insufficiency and/or
      ketidakcukupan dana atau tidak berfungsinya                          malfunction of internal process, human error,
      proses internal, kesalahan manusia, kegagalan                        system failure, or external problems affecting the
      sistem atau adanya problem eksternal yang                            operations of the Group.
      berdampak kepada kegiatan operasional Grup.

      Model tata kelola risiko operasional untuk Grup                      The operational risk governance model for the
      memberikan tata kelola yang formal, transparan                       Group provides formalized, transparent and
      dan konsisten yang secara jelas menegaskan                           consistent governance which clearly defines the
      tugas dan tanggung jawab serta alur pelaporan                        roles and responsibilities as well as reporting flow
      untuk mengelola risiko operasional dalam Grup                        for managing operational risk at the Group
      secara efektif. Model tata kelola bertujuan untuk                    effectively. The governance model aims to place
      menempatkan       akuntabilitas  terhadap     risiko                 accountability to operational risk that may arise,
      operasional yang mungkin timbul serta pada saat                      and simultaneously facilities the segregation of
      yang bersama memfasilitasi pemisahan tugas                           duties independently between the risk-taking units,
      secara independen antara risk taking units, unit                     risk control units and the functions of the Internal
      pengendali risiko dan Satuan Kerja Audit Internal.                   Audit Unit.


56.   Perkara Hukum                                                    56. Legal Matters

      SAM (“Entitas Anak”) masih dalam proses perkara                      SAM (“Subsidiary”) is still in the process of legal
      hukum atas dugaan tindak pidana korupsi                              proceedings over allegations of corruption
      PT Asuransi Jiwasraya (Persero) (“Jiwasraya”)                        PT Asuransi Jiwasraya (Persero) (“Jiwasraya”)
      (“Perkara Hukum Jiwasraya”).                                         (“Jiwasraya Legal Case”).




                                                             - 183 -
Page 506
PT SINAR MAS MULTIARTHA TBK                                                 PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                          AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                    Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                          For the Years Ended
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                         (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                             unless otherwise stated)


   Berdasarkan putusan Pengadilan Tinggi No.                   Based on the decision of the High Court No.
   33/PID.TPK/2022/PT DKI tertanggal 18 Oktober                33/PID.TPK/2022/PT DKI dated October 18, 2022
   2022 ("Putusan Banding") memutuskan bahwa                   ("Appeal Decision") decided that SAM was not
   SAM tidak terbukti secara sah dan meyakinkan                legally and convincingly proven guilty of the crime
   bersalah    atas  pidana    yang  didakwakan;               charged; release from all charges (vrijspraak);
   membebaskan dari segala dakwaan (vrijspraak);               restore SAM's rights in terms of ability, position,
   memulihkan hak-hak SAM dalam kemampuan,                     and dignity; and cash refund by the Public
   kedudukan, dan harkat serta martabatnya; dan                Prosecutor (“JPU”) to SAM of Rp73,938,704,154.
   pengembalian uang tunai oleh Jaksa Penuntut
   Umum      (“JPU”)    kepada    SAM    sebesar
   Rp73.938.704.154.

   Sampai dengan tanggal laporan ini, terhadap                 As at the date of this report, the following appeals
   Putusan Banding tersebut telah diajukan upaya               have been filed against the Appeal Decision:
   hukum Kasasi sebagai berikut:
   -   JPU mengajukan Memori Kasasi atas Putusan               -      The Public Prosecutor filed a Cassation
       Banding pada tanggal 11 November 2022 dan                      Memorandum on the Appeal Decision on
       SAM telah mengajukan Kontra Memori Kasasi                      November 11, 2022 and SAM has submitted a
       oleh JPU tersebut pada tanggal 1 Desember                      Counter Cassation Memorandum by the
       2022.                                                          Prosecutor on December 1, 2022.
   -   SAM mengajukan Memori Kasasi atas                       -      SAM filed a Memorandum of Cassation on the
       Putusan Banding pada tanggal 24 November                       Appeal Decision on November 24, 2022.
       2022.

   Dengan itikad baik, SAM telah menitipkan dana               In good faith, SAM has entrusted funds in the
   sejumlah Rp77.000 kepada Kejaksaan Negeri                   amount of Rp77,000 to the Attorney General of the
   Republik Indonesia untuk menutup potensi                    Republic of Indonesia to cover the maximum
   maksimal kerugian terkait penempatan investasi              potential loss related to the investment placement
   oleh Jiwasraya pada SAM. Penitipan ini bukanlah             by Jiwasraya in SAM. This deposit is not an
   suatu kewajiban melainkan itikad baik dari SAM              obligation but a good intention from SAM as a good
   sebagai warga negara yang baik untuk mendukung              citizen to support legal steps taken by the Attorney
   langkah hukum yang dilakukan oleh Kejaksaan                 General of the Republic of Indonesia.
   Agung Republik Indonesia.

   Sebagai tambahan informasi, tidak ada dampak                As additional information, there is no material
   material apapun terhadap aset kelolaan SAM                  impact whatsoever on the assets under
   maupun penempatan dana nasabah lainnya pada                 management of SAM or the placement of other
   SAM apabila Majelis Hakim Mahkamah Agung                    customer funds in SAM if the Panel of Judges if the
   memutus pidana denda yang dijatuhkan kepada                 Supreme Court decides on the fine imposed on
   SAM dan merujuk pada jumlah dana yang telah                 SAM and refers to the amount of funds that SAM
   SAM serahkan dengan itikad baik kepada                      has submitted in good faith to the Attorney General
   Kejaksaan Agung Republik Indonesia.                         of the Republic of Indonesia.


57. Informasi Lainnya                                      57. Other Information

   Informasi Keuangan Lainnya                                  Other financial information

   a.   Rasio Kewajiban Penyediaan Modal Minimum               a.     The Capital Adequacy Ratio (CAR) of BS was
        (KPMM) dari BS dihitung sesuai dengan                         calculated in accordance with Bank Indonesia
        Peraturan Bank Indonesia                                      Regulation.

        Perhitungan rasio kecukupan modal adalah                      Calculation of CAR follows:
        sebagai berikut:
                                              2023                 2022

        I. Komponen Modal                                                      I. Capital Stock Components
           A. Modal Inti                      7.066.240            6.783.476      A. Total Core Capital
           B. Modal Pelengkap                   690.121              676.037      B. Supplementary Capital

                                                                               II. Total Core and
        II. Jumlah modal                      7.756.361            7.459.513       Supplementary Capital



                                                     - 184 -
Page 507
PT SINAR MAS MULTIARTHA TBK                                                          PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                   AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                             Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                   For the Years Ended
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                  (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                      unless otherwise stated)


                                                 2023                   2022

        III.Aset Tertimbang Menurut                                                    III.Risk Weighted Assets
            Risiko (ATMR)
            Risiko kredit setelah
            memperhitungkan risiko                                                       Credit risk after considering
              spesifik                          18.498.137              17.430.759         specific risk
            Risko pasar                          3.299.853               1.912.082       Market risk
            Risiko operasional                   7.237.461               5.952.534       Operational risk

          Jumlah ATMR untuk risiko                                                       Total risk weighted assets for credit,
            kredit, pasar dan operasional       29.035.451              25.295.375         market and operational risk

        IV.Rasio Kewajiban Penyediaan                                                  IV. Capital Adequacy Ratio (CAR)
             Modal
           Minimum (KPMM) yang tersedia
           KPMM dengan memperhitungkan
             risiko kredit                         41,93%                    42,80%      CAR with credit risk
           KPMM dengan memperhitungkan
             risiko kredit dan pasar               35,58%                    38,56%      CAR with credit and market risk
           KPMM dengan memperhitungkan
             risiko kredit dan operasional         30,14%                    31,90%      CAR with credit and operational risk
           KPMM dengan memperhitungkan risiko                                            CAR with credit, operational and
             kredit dan operasional dan pasar      26,71%                    29,49%        market risk

        V. Rasio Kewajiban Penyediaan Modal                                            V. Minimum Capital Adequacy Ratio
             Minimum yang diwajibkan                    10%                     10%         based on the profile risk

   b.   Rasio tingkat solvabilitas                                 b.   Solvency Margin Ratio

        Perhitungan rasio tingkat solvabilitas adalah                         Calculation of solvency margin follows:
        sebagai berikut:

                                                 2023                   2022

        ASM                                       335,95%                    333,52% ASM
        ASJ                                       931,23%                    795,11% ASJ

   c.   Modal Kerja Bersih Disesuaikan (MKBD)                           c.    The Adjusted Net Working Capital

        Perhitungan MKBD SMS adalah sebagai                                   The Calculation of Adjusted Net Working
        berikut:                                                              Capital of SMS follows:

                                                 2023                   2022

        Modal Kerja Bersih Disesuaikan            502.394                    520.737 Adjusted Net Working Capital
                                                                                     Adjusted Net Working Capital
        Modal Kerja Bersih Disesuaikan wajib       25.000                     34.558 Compulsory

                                                                                       Excess Adjusted Net Working
        Lebih MKBD                                477.394                    486.179     Capital



   d.   Batas Maksimum Pemberian Pembiayaan                             d.    Maximum Financing Lending Limit

        Pada tanggal 31 Desember 2023 dan 2022,                               As at December 31, 2023 and 2022, there is
        tidak terdapat penyediaan dana kepada pihak                           no provision of funds to related parties and
        berelasi dan pihak ketiga yang melampaui                              third parties that exceed the maximum
        Batas Maksimum Pemberian Pembiayaan                                   financing limit by SMF and ABSM.
        yang diberikan oleh SMF dan ABSM.




                                                         - 185 -
Page 508
PT SINAR MAS MULTIARTHA TBK                                                                                     PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                              AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                        Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                              For the Years Ended
31 Desember 2023 dan 2022                                                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                             (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                                 unless otherwise stated)


   Berdasarkan Surat Otoritas Jasa Keuangan                                                        Based on the Financial Services Authority (“OJK”)
   (“OJK”) No. S-71/PM.1/2021 tanggal 17 Desember                                                  Letter       No.         S-71/PM.1/2021         dated
   2021 (“Surat OJK”) kepada SMS, entitas anak yang                                                December 17, 2021 (“OJK Letter”) to SMS, a
   menyatakan bahwa SMS dikenakan denda                                                            subsidiary stating that SMS is subject to an
   administratif oleh OJK sebesar Rp1.300 serta                                                    administrative fine by OJK in the amount of
   pembekuan kegiatan usaha penjamin emisi efek                                                    Rp1,300 as well as suspension of securities
   selama 1 (satu) tahun sampai 17 Desember 2022.                                                  underwriting business activities for 1 (one) year
   Menindaklanjuti hal tersebut, SMS menghormati isi                                               until December 17, 2022. Following up on this,
   surat OJK tersebut dengan segera melakukan                                                      SMS respects the contents of the OJK letter by
   pemenuhan kewajiban berupa pembayaran atas                                                      immediately fulfilling its obligations in the form of
   denda administratif yang dimaksud. Sampai                                                       payment of the administrative fine. As at the
   dengan laporan keuangan konsolidasian ini dibuat,                                               preparation of these consolidated financial
   SMS menyatakan tidak ada dampak yang                                                            statements, SMS stated that there was no
   signifikan serta material terhadap SMS sehingga                                                 significant and material impact on SMS so that
   dengan demikian kegiatan operasional SMS tetap                                                  SMS operational activities would continue as usual.
   berjalan seperti biasa.


58. Pengungkapan Tambahan Transaksi Bukan Kas                                               58. Supplemental                   Disclosures        of     Non        Cash
                                                                                                Transactions

   Grup mempunyai transaksi bukan kas yang tidak                                                   The following are the non cash activities of the
   mempengaruhi laporan arus kas konsolidasian                                                     Group which do not have an impact on the
   sebagai berikut:                                                                                consolidated statements of cash flows:

                                                                       2023                         2022

   Penghapusan piutang pembiayaan                                                                                   Write-off of multipurpose
     multiguna (Catatan 6)                                               441.324                           60.477        financing (Note 6)
   Penghapusan piutang pembiayaan                                                                                   Write-off of working capital financing
     modal kerja skema anjak piutang                                                                                  with factoring scheme
     (Catatan 8)                                                            9.015                                 -   receivables (Note 8)
   Penghapusan kredit yang diberikan
     (Catatan 10)                                                      1.220.668                          236.853 Write-off of loans (Note 10)
   Penghapusan tagihan ekspektasi                                                                                 Write-off of acceptances
     (Catatan 11)                                                                    -                      2.053      payable (Note 11)
   Penghapusan invetasi dalam saham                                                                               Write-off of investment in
     (Catatan 16)                                                          43.195                               -   shares (Note 16)



59. Rekonsiliasi Liabilitas Konsolidasian                             yang                  59. Reconciliation of Consolidated                               Liabilities
    Berasal dari Aktivitas Pendanaan                                                            Arising from Financing Activities

   Tabel berikut menjelaskan perubahan pada                                                        The table below describes the changes in
   liabilitas Konsolidasian yang timbul dari aktivitas                                             consolidated liabilities arising from financing
   pendanaan, yang meliputi perubahan terkait kas                                                  activities, including changes in cash and non-cash:
   dan nonkas:
                                                                                                 Perubahan Nonkas/
                                                                                                 Non cash Changes

                                                                                          Pergerakan          Amortisasi
                                                                     Arus kas            valuta asing/.     biaya transaksi/
                                                  1 Januari         pendanaan/            Changes in        Amortization of    31 Desember/
                                                   January           Financing              foreign           transaction       December
                                                    2023             cash flow             exchange              costs             2023

   Surat berharga yang diterbitkan                  7.002.503           2.201.138                     -           (813.337)        8.390.304   Securities issued
   Pinjaman yang diterima                           3.687.007          (1.612.541)                    -             11.920         2.086.386   Loans received

   Jumlah liabilitas dari                                                                                                                      Total liabilities from
     aktivitas pendanaan                           10.689.510            588.597                      -           (801.417)       10.476.690      financing activities



   *)    Arus kas dari surat berharga yang diterbitkan dan pinjaman diterima merupakan jumlah bersih dari penerimaan dan pembayaran pinjaman pada laporan
         arus kas konsolidasian/
   *)    Cash flows from securities issued and loans received represent net borrowings in amount of proceeds and payments. such of the consolidated statements of cash flows.




                                                                                - 186 -
Page 509
PT SINAR MAS MULTIARTHA TBK                                                                                PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                                         AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                                                   Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                                         For the Years Ended
31 Desember 2023 dan 2022                                                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                        (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                                            unless otherwise stated)


                                                                                            Perubahan Nonkas/
                                                                                            Non cash Changes

                                                                                     Pergerakan            Amortisasi
                                                                    Arus kas        valuta asing/.       biaya transaksi/
                                                 1 Januari         pendanaan/        Changes in          Amortization of    31 Desember/
                                                  January           Financing          foreign             transaction       December
                                                   2022             cash flow         exchange                costs             2022

   Surat berharga yang diterbitkan                 4.064.785          2.951.765                  -              (14.047)        7.002.503   Securities issued
   Pinjaman yang diterima                          3.485.895            211.801                  -              (10.689)        3.687.007   Loans received

   Jumlah liabilitas dari                                                                                                                   Total liabilities from
     aktivitas pendanaan                           7.550.680          3.163.566                  -              (24.736)       10.689.510      financing activities



   *)    Arus kas dari surat berharga yang diterbitkan dan pinjaman diterima merupakan jumlah bersih dari penerimaan dan pembayaran pinjaman pada laporan
         arus kas konsolidasian/
   *)    Cash flows from securities issued and loans received represent net borrowings in amount of proceeds and payments. such of the consolidated statements of cash flows.




60. Standar Akuntansi                 Keuangan               Baru dan                   60. New Financial Accounting Standards                                        and
    Penyesuaian   atas                 Laporan                Keuangan                      Adjustment of Financial Statements
    Konsolidasian

   Perubahan   Pernyataan                    Standar           Akuntansi                          Changes to the Statements                          of     Financial
   Keuangan (PSAK)                                                                                Accounting Standards (SFAS)

   Diterapkan pada tahun 2023                                                                     Adopted during 2023

   Penerapan standar akuntansi keuangan revisi                                                    The implementation of the following revised
   berikut, yang berlaku efektif 1 Januari 2023,                                                  financial accounting standards, which are
   relevan    bagi   Perusahaan     namun     tidak                                               effective from January 1, 2023 and relevant for
   menyebabkan perubahan signifikan atas kebijakan                                                the Company, did not result in substantial
   akuntansi Perusahaan dan tidak berdampak                                                       changes to the Company’s accounting policies
   material terhadap jumlah-jumlah yang dilaporkan                                                and had no material effect on the amounts
   dalam laporan keuangan tahun berjalan maupun                                                   reported in the current or prior year’s financial
   sebelumnya:                                                                                    statements:

   -     Amendemen PSAK No. 1: “Penyajian Laporan                                                    -    Amendment to SFAS No. 1: “Presentation of
         Keuangan” tentang Pengungkapan Kebijakan                                                         Financial Statements” regarding Disclosure
         Akuntansi yang Mengubah Istilah “Signifikan”                                                     of Accounting Policies that Change the Term
         menjadi “Material” dan Memberi Penjelasan                                                        “Significant” to “Material” and Provide
         mengenai Kebijakan Akuntansi Material                                                            Explanations of Material Accounting Policies
   -     Amendemen PSAK No. 16, Aset Tetap: Hasil                                                    -    Amendment to SFAS No. 16, Property, Plant
         sebelum Penggunaan yang Diintensikan                                                             and Equipment: Proceeds before Intended
                                                                                                          Use
   -     Amendemen PSAK No. 25, Kebijakan                                                            -    Amendment to SFAS No. 25, Accounting
         Akuntansi, Perubahan Estimasi Akuntansi dan                                                      Policies, Changes in Accounting Estimates
         Kesalahan: Definisi Estimasi Akuntansi                                                           and Erros: Definition of Accounting
                                                                                                          Estimates
   -     Amendemen      PSAK    No.   46,    Pajak                                                   -    Amendment to SFAS No. 46, Income Taxes:
         Penghasilan: Pajak Tangguhan terkait Aset                                                        Deferred Tax related to Assets and
         dan Liabilitas yang Timbul dari Transaksi                                                        Liabilities Arising from a Single Transaction
         Tunggal
    -    Amendemen PSAK No. 107, “Akuntansi                                                          -    Amendment to SFAS No. 107, “Ijarah
         Ijarah”                                                                                          Accounting”




                                                                              - 187 -
Page 510
PT SINAR MAS MULTIARTHA TBK                                                        PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                                 AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                           Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                 For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                    unless otherwise stated)


    Telah diterbitkan namun belum berlaku efektif                       Issued but not yet effective

    1 Januari 2024                                                      January 1, 2024

    -   Amandemen PSAK No. 1, “Penyajian Laporan                        -    Amendment to SFAS No. 1, “Presentation
        Keuangan” terkait Liabilitas Jangka Panjang                          of Financial Statements” regarding Long-
        dengan Kovenan                                                       term Liabilities with the Covenant

    -   Amandemen PSAK No. 73, “Sewa” terkait                           -    Amendment to SFAS No. 73, “Leases”
        Liabilitas Sewa pada Transaksi Jual dan                              regarding Lease Liabilities in Sale-and-
        Sewa-balik                                                           lease Back Transaction

    -   Standar Akuntansi Keuangan Internasional                        -    International Financial Accounting Standard

    1 Januari 2025                                                      January 1, 2025

    -   PSAK No. 74, “Kontrak Asuransi”                                 -    SFAS No. 74, “Insurance Contracts”

    -   PSAK No. 74 (Amandemen): “Kontrak                               -    SFAS No. 74 (Amendment): “Insurance
        Asuransi: Penerapan Awal PSAK No. 74 dan                             Contracts: Initial Application of SFAS No.
        PSAK No. 71 - Informasi Komparatif”                                  74 and SFAS No. 71 - Comparative
                                                                             Information”

    -   Amandemen PSAK No. 10, “Pengaruh                                -    Amendment to SFAS No. 10, “Impact on
        Perubahan Kurs Valuta Asing: Kekurangan                              Changes in Foreign Currency: Lack of
        Ketertukaran”                                                        Exchangeability”.

    Sampai dengan tanggal penerbitan laporan                            As at the date of authorization of these financial
    keuangan, Bank masih mempelajari dampak yang                        statements, the Bank is still evaluating the
    mungkin timbul dari penerapan amendemen PSAK                        potential impact of the above amendments to
    tersebut dan dampak tersebut pada laporan                           SFAS and has not yet determined the related
    keuangan belum dapat ditentukan.                                    effects on the financial statements.


61. Peristiwa Setelah Periode Pelaporan                           61. Subsequent Event after Reporting Period

    Per tanggal 1 Januari 2024, Akta No. 2 tanggal 2                  On January 1, 2024, based on Notarial Deed No. 2
    Januari 2024 yang dibuat di hadapan Aulia Taufani                 dated January 2, 2024 made before Aulia Taufani
    S.H., notaris di Jakarta, Pemisahan Unit Usaha                    S.H., public notary in Jakarta, the Separation of
    Syariah PT Bank Sinarmas Tbk telah efktif                         Sharia Business Unit of PT Bank Sinarmas Tbk
    dilakukan dengan pendirian Bank Umum Syariah                      has been effective with the establishment of a new
    baru dengan nama PT Bank Nano Syariah.                            Sharia Commercial Bank under the name PT Bank
                                                                      Nano Syariah.

    Dengan dipisahkannya Unit Usaha Syariah, maka                     With the separation of the Sharia Business Unit,
    selanjutnya PT Bank Sinarmas Tbk tidak lagi                       then PT Bank Sinarmas Tbk will no longer carry
    melakukan kegiatan usaha syariah, dan telah                       out sharia business activities, and changes have
    dilakukan perubahan kegiatan usaha pada Pasal 3                   been made to business activities in Article 3 of
    Anggaran dasar BSIM sebagaimana termaktub                         BSIM's Articles of Association as stated in the
    dalam Akta Pernyataan Keputusan Rapat                             Deed of Meeting Resolution Amendment of PT
    Perubahan Anggaran Dasar PT Bank Sinarmas                         Bank Sinarmas Tbk's Articles of Association No. 3
    Tbk No. 3 tanggal 2 Januari 2024 yang dibuat di                   dated January 2, 2024 made before Aulia Taufani,
    hadapan Aulia Taufani, S.H., Notaris di Jakarta                   S.H., notary in Jakarta who has obtained approval
    yang telah memperoleh persetujuan sesuai dengan                   in accordance with the Decree of the Minister of
    Surat Keputusan Menteri Hukum dan Hak Asasi                       Law and Human Rights of the Republic of
    Manusia RI Nomor AHU-0000118.AH.01.02 Tahun                       Indonesia Number AHU-0000118. AH.01.02 of
    2024 tanggal 2 Januari 2024.                                      2024 dated January 2, 2024.




                                                        - 188 -
Page 511
PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                     Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                           For the Years Ended
31 Desember 2023 dan 2022                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                          (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                              unless otherwise stated)


   PT Bank Nano Syariah telah tercatat dalam                    PT Bank Nano Syariah has been registered in the
   Administrasi Pengawasan Otoritas Jasa Keuangan               Supervision Administration of the Financial
   sebagai Anggota Kelompok Usaha Bank dengan                   Services Authority (OJK) as a member of the Bank
   Perusahaan Induk PT. Bank Sinarmas Tbk.                      Business Group with the Parent Company PT Bank
                                                                Sinarmas Tbk.

   Berdasarkan Akta No. 1 tanggal 2 Januari 2024                Based on Deed no. 1 dated January 2 2024, made
   yang dibuat di hadapan Aulia Taufani S.H.,                   before Aulia Taufani S.H. the composition of the
   susunan anggota Dewan Komisari, Direksi, dan                 members of the Board of Commissioners, Directors
   Dewan Pengawas Syariah PT Bank Nano Syariah                  and Board of Sharia Supervisory of PT Bank Nano
   sebagai berikut:                                             Syariah is as follows:


                                              1 Januari/January 1,
                                                     2024

    Dewan Komisaris                                                       Board of Commissioners
      Komisaris Utama                            The Tjun Hau               President Commissioner
      Komisaris Independen                      Nana Supriana               Independent Commissioner
      Komisaris Independen                 Horas Parsaulian Pardede         Independent Commissioner

    Direksi                                                               Board of Directors
      Direktur Utama                                 Halim                  President Director
      Direktur                                  Soejanto Soetjijo           Director
      Direktur                                  Uzan Tedjamulia             Director
      Direktur                                  Hanafi Himawan              Director
      Direktur                                   Suyono Wijaya              Director

    Dewan Pengawas Syariah                                                Board of Sharia Supervisory
      Ketua                                    Ahmadi Sukarno               Chairman
      Anggota                             Mochammad Bukhori Muslim          Member


   Terkait efektifnya pemisahan tersebut maka                   Regarding   the      effective separation, the
   susunan Pengurus PT Bank Sinarmas Tbk sebagai                composition of the Management of PT Bank
   berikut:                                                     Sinarmas Tbk is as follows:

                                           1 Januari/January 1,
                                                  2024

    Dewan Komisaris                                                   Board of Commissioners
      Komisaris Utama                       Tjendrawati Widjaja         President Commissioner
      Komisaris Independen                 Sammy Kristamuljana          Independent Commissioner
      Komisaris Independen                       Rusmin                 Independent Commissioner

    Direksi                                                           Board of Directors
      Direktur Utama                        Frenky Tirtowijoyo          President Director
      Direktur                                Miko Andidjaja            Director
      Direktur                             Ekajaya Ongny Putra          Director
      Direktur                                 Enny Kamal               Director
      Direktur                                    Sendy                 Director




                                                    - 189 -
Page 512
PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
DAN ENTITAS ANAK                                                                               AND SUBSIDIARIES
Catatan atas Laporan Keuangan Konsolidasian                         Notes to the Consolidated Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah,
kecuali dinyatakan lain)                                                                  unless otherwise stated)


   Berdasarkan Akta tersebut juga menegaskan                       Based on this Deed, it also reaffirms that the
   kembali susunan pemegang saham Perseroan                        composition of the Company's shareholders as
   adalah sebagai berikut:                                         follows:

                                             1 Januari/January 1 , 2024
                                 Jumlah Lembar        Persentase           Jumlah
                                    Saham/           Kepemilikan/      Modal Disetor/
                                   Number of        Percentage of       Total Paid-up
         Pemegang Saham             Shares            Ownership         Capital Stock       Name of Stockholders
                                                          %                   Rp

    PT Bank Sinarmas Tbk          5.100.000.000              51,00%         510.000     PT Bank Sinarmas Tbk
    PT Sinarmas Multiartha Tbk    2.500.000.000              25,00%         250.000     PT Sinarmas Multiartha Tbk
    PT Asuransi Sinar Mas         2.400.000.000              24,00%         240.000     PT Asuransi Sinar Mas

    Jumlah                       10.000.000.000            100,00%        1.000.000     Total




                                                       - 190 -
Page 513
Lampiran I                                                                                                  Attachment I

PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                   Supplementary Information
Laporan Posisi Keuangan Entitas Induk                            Parent Company Statement of Financial Position
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                     (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                         otherwise stated)




                                               2023               2022

ASET                                                                           ASSETS

Kas dan Bank                                                                   Cash and Cash in Banks
  Pihak berelasi                                   3.174              2.838      Related parties
  Pihak ketiga                                     1.498              1.533      Third parties

  Jumlah                                           4.672              4.371 Total

Investasi Jangka Pendek                                                        Short-term Investments
   Pihak berelasi                              2.225.506          2.279.080      Related parties
   Pihak ketiga                                  579.949          1.381.736      Third parties
   Allowance                                    (175.175)          (150.000)     Allowance for impairment losses

  Jumlah                                       2.630.280          3.510.816 Total

Piutang Lain-lain                                                              Other Accounts Receivable
  Pihak berelasi                               2.849.612          2.785.652      Related parties
  Pihak ketiga                                   339.880            344.801      Third parties
  Allowance                                      (60.228)           (83.623)     Allowance for impairment losses

  Jumlah                                       3.129.264          3.046.830 Total

Investasi dalam Saham                         12.029.891         10.852.930 Investment in Shares of Stock
   Cadangan kerugian penurunan nilai              (8.000)           (30.051) Allowance for impairment losses

  Jumlah                                      12.021.891         10.822.879 Total

Aset tetap                                                                     Property and equipment
  Harga perolehan                                 44.942              44.731     Cost
  Akumulasi penyusutan                           (18.487)           (17.287)     Accumulated depreciation

  Nilai tercatat                                  26.455             27.444 Net carrying value

Aset tetap dalam Rangka Bangun,                                              Property Under Build, Operate and
  Kelola dan Serah                                                             Transfer Agreement
  Harga perolehan                               140.944             140.944    Cost
  Akumulasi penyusutan                          (62.977)            (59.664)   Accumulated depreciation

  Nilai tercatat                                  77.967             81.280 Net carrying value

Aset Lain-lain                                                              Other Assets
  Pihak berelasi                                  4.879              11.380   Related parties
  Pihak ketiga                                  679.214             997.714 Third parties

  Jumlah                                        684.093           1.009.094 Total

JUMLAH ASET                                   18.574.622         18.502.714 TOTAL ASSETS




                                                      - I.1 -
Page 514
Lampiran I                                                                                                Attachment I

PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                   Supplementary Information
Laporan Posisi Keuangan Entitas Induk                            Parent Company Statement of Financial Position
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                     (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                         otherwise stated)




                                               2023               2022

LIABILITAS DAN EKUITAS                                                       LIABILITIES AND EQUITY

LIABILITAS                                                                  LIABILITIES
Utang Pajak                                          567                143 Taxes Payable
Utang Obligasi                                 4.837.742          4.576.146 Bonds Payable
Beban Akrual                                      73.398             60.729 Accrued Expenses
Liabilitas Lain-lain                                                        Other Liabilities
   Pihak berelasi                                     911               750   Related parties
   Pihak ketiga                                       944               996   Third parties

  Jumlah                                           1.855              1.746 Total

Jumlah Liabilitas                              4.913.562          4.638.764 Total Liabilties

EKUITAS                                                                     EQUITY
Modal Saham                                    1.334.891          1.334.891 Capital Stock
Tambahan Modal Disetor - bersih                1.447.186          1.447.186 Additional Paid-in Capital - Net
Komponen Ekuitas Lainnya                         497.602            728.508 Other component equity
Saldo laba                                                                  Retained earnings
  Ditentukan penggunaanya                        791.607            791.607   Appropriated
  Tidak ditentukan penggunaanya                9.589.774          9.561.758   Unappropriated

Jumlah Ekuitas                                13.661.060         13.863.950 Total Equity

JUMLAH LIABILITAS DAN EKUITAS                 18.574.622         18.502.714 TOTAL LIABILITIES AND EQUITY




                                                      - I.2 -
Page 515
Lampiran I                                                                                                        Attachment I

PT SINAR MAS MULTIARTHA TBK                                                  PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                 Supplementary Information
Laporan Laba Rugi dan Penghasilan Komprehensif                 Parent Company Statement of Profit or Loss and
Lain Entitas Induk                                                               Other Comprehensive Income
Untuk Tahun-tahun Yang Berakhir                                                            For the Years Ended
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                   (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                       otherwise stated)




                                           2023                 2022

PENDAPATAN                                                                     INCOME
Dividen                                      321.967               159.289     Dividends
                                                                               Unrealized gain on increase
Keuntungan dari kenaikan nilai                                                    in fair value of financial
   wajar efek yang diukur pada                                                    assets measured at fair
   nilai wajar melalui laba rugi                                         -        value through profit and loss
Bunga                                            79.151             46.840     Interest
Sewa                                             13.501             15.883     Rent
Keuntungan atas penjualan                                                      Gain on sale of short term
   investasi jangka pendek                   308.143               182.138        investments
Keuntungan dari investasi                                                      Gain on investments in units of
   pada unit reksadana                           29.415             75.294        mutual funds
Keuntungan selisih kurs                                                        Gain on foreign currency
   mata uang asing - bersih                           -             80.296        exchange - net
Lainnya                                               4             47.582     Others

Jumlah                                       752.181               607.322     Total

BEBAN                                                                          EXPENSES
                                                                               General and administrative
Umum dan administrasi                         31.355                33.130        expenses
Bunga dan keuangan                           515.236               275.919     Interest and finance costs
Gaji dan tunjangan karyawan                   22.641                22.743     Salaries and employee benefits
Beban penyusutan                               4.511                 4.630     Depreciation
Kerugian selisih kurs                                                          Loss on foreign currency
  mata uang asing – bersih                       25.695                    -      exchange - net
Kerugian atas penjualan                                                        Loss on sale of long term
  Investasi jangka panjang                       76.429                    -      investments
                                                                               Unrealized gain on increase
Kerugian dari kenaikan nilai                                                      in fair value of financial
   wajar efek yang diukur pada                                                    assets measured at fair
   nilai wajar melalui laba rugi                  7.601            216.995        value through profit and loss
Lainnya                                          34.154             37.769     Others

Jumlah                                       717.622               591.186     Total

LABA SEBELUM PAJAK                               34.559             16.136     PROFIT BEFORE TAX

BEBAN PAJAK                                                                    TAX EXPENSE
Kini                                              6.846                3.506   Current
Tangguhan                                           (67)                  68   Deferred

Jumlah                                            6.779                3.574   Total

LABA TAHUN BERJALAN                              27.780             12.562     PROFIT FOR THE YEAR

PENGHASILAN (RUGI)
  KOMPREHENSIF                                                               OTHER COMPREHENSIVE
  LAIN                                                                         INCOME (LOSS)
Pengukuran kembali liabilitas                                                Remeasurement of
  imbalan pasti                                    303                 (307)   defined benefit liability
Pajak sehubungan dengan pos                                                  Tax relating to item that
  yang tidak akan direklasifikasi                   (67)                 68    will not be reclassified

Keuntungan yang belum direalisasikan                                           Unrealized gain (loss) on increase
  atas kenaikan wajar investasi nilai                                            in fair value of investments
  yang diukur pada nilai wajar melalui                                           at fair value through other
  penghasilan komprehensif lain             (230.906)              217.982       comprehensive income

                                                                               TOTAL OTHER
RUGI KOMPREHENSIF LAIN                                                           COMPREHENSIVE INCOME
  SETELAH PAJAK                             (230.670)              217.743       (LOSS) AFTER TAX

JUMLAH PENGHASILAN                                                             TOTAL COMPREHENSIVE
  (RUGI) KOMPREHENSIF                       (202.890)              230.305       INCOME (LOSS)




                                                    - I.3 -
Page 516
Lampiran I                                                                                                                                    Attachment I

PT SINAR MAS MULTIARTHA TBK                                                                                PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                                               Supplementary Information
Laporan Perubahan Ekuitas Entitas Induk                                                     Parent Company Statement of Changes in Equity
Untuk Tahun-tahun Yang Berakhir                                                                                          For the Years Ended
31 Desember 2023 dan 2022                                                                                       December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                                 (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                                     otherwise stated)


                                                             Tambahan         Komponen
                                                           Modal Disetor        Ekuitas                Saldo Laba/Retained Earnings
                                                               Bersih/         Lainnya/
                                              Modal         Additionnal          Other               Ditentukan       Tidak Ditentukan          Jumlah
                                             Saham/        Paid-in capital    component            Penggunaannya/     Penggunaannya/            Ekuitas/
                                           Capital Stock        - net           equity              Appropriated      Unappropriated          Total Equity


Saldo pada tanggal
   1 Januari 2022
Balance as at January 1, 2022                  1.334.891        1.447.186              510.526             791.607            9.549.435           13.633.645

   Laba tahun berjalan/
   Profit for the year                                 -                 -                    -                  -               12.562               12.562

   Pengukuran kembali liabilitas imbalan
      kerja jangka panjang/
   Remeasurement of defined
       benefit liability                               -                 -                    -                  -                    (239)             (239)

   Kerugian yang belum direalisasi
      atas kenaikan nilai wajar
      efek-efek/
   Unrealized gain on increase
      in fair value of financial
      assets                                           -                 -             217.982                   -                       -           217.982

Saldo pada tanggal
   31 Desember 2022
Balance as at December 31, 2022                1.334.891        1.447.186              728.508             791.607            9.561.758           13.863.950


   Laba tahun berjalan/
   Profit for the year                                                                                                           27.780               27.780

   Pengukuran kembali liabilitas imbalan
      kerja jangka panjang/
   Remeasurement of defined
       benefit liability                               -                 -                    -                  -                    236                236

   Kerugian yang belum direalisasi
      atas kenaikan nilai wajar
      efek-efek/
   Unrealized gain on increase
      in fair value of financial assets                -                 -             (230.906)                 -                       -          (230.906)

Saldo pada tanggal
   31 Desember 2023/
Balance as at
   December 31, 2023                           1.334.891        1.447.186              497.602             791.607            9.589.774           13.661.060




                                                                             - I.4 -
Page 517
Lampiran I                                                                                                   Attachment I

PT SINAR MAS MULTIARTHA TBK                                                    PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                   Supplementary Information
Laporan Arus Kas Entitas Induk                                         Parent Company Statement of Cash Flows
Untuk Tahun-tahun Yang Berakhir                                                              For the Years Ended
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                     (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                         otherwise stated)




                                               2023               2022

ARUS KAS DARI AKTIVITAS                                                      CASH FLOWS FROM
  OPERASI                                                                       OPERATING ACTIVITIES
Penerimaan bunga                                 79.151               46.840 Interest received
Penerimaan dari pendapatan
  lainnya                                        13.505             143.761 Other income received
Keuntungan (kerugian) selisih                                                Exchange rate gain (loss)
  kurs - bersih                                 (25.695)                  -    - net
Pembayaran beban bunga dan                                                   Payment of interest and
  keuangan                                     (515.236)           (275.919)      finance costs
Pembayaran beban usaha                          (75.481)            241.191 Payment of operating expenses

                                                                              Operating cash flows before
Rugi operasi sebelum perubahan                                                   changes in operating
  aset/liabilitas operasi                      (523.756)            (155.873)    assets/liabilities
Penurunan (kenaikan) aset:                                                    Decrease (increase) in assets:
  Investasi jangka pendek                       679.281             (460.139)    Short-term investments
  Piutang lain-lain                             (82.434)          (2.431.045)    Other accounts receivables
  Aset lain-lain                                318.203             (138.459)    Other assets
Kenaikan (penurunan) liabilitas:                                              Increase (decrease) in liabilities:
  Utang pajak                                         445             (7.543)    Taxes payable
  Liabilitas lain-lain                                109             (5.429)    Other liabilities

Kas bersih diperoleh dari
  (digunakan untuk)                                                             Net Cash Provided by (Used in)
  Aktivitas Operasi                             391.848           (2.886.742)     Operating Activities

ARUS KAS DARI AKTIVITAS                                                      CASH FLOWS FROM
  INVESTASI                                                                    INVESTING ACTIVITIES
Penerimaan dividen                              321.967             159.289 Dividends received
                                                                             Additions in property and
Penambahan aset tetap                              (211)               (167)   equipment
Keuntungan (kerugian) investasi                                              Short Investment gain (loss)
  jangka pendek                                 300.542                   -    - net
Keuntungan (kerugian) investasi                                              Long Investment gain (loss)
  jangka panjang                                (76.429)                  -    - net
Penambahan investasi dalam                                                   Placements in investments
  saham                                       (1.199.012)          (172.674)   in shares

Kas Bersih Digunakan untuk                                                      Net Cash Used in Investing
  Aktivitas Investasi                          (653.143)             (13.552)     Activities

ARUS KAS DARI AKTIVITAS                                                         CASH FLOWS FROM
  PENDANAAN                                                                       FINANCING ACTIVITIES
Perolehan (pembayaran) pinjaman
  lainnya                                             -            (428.070) Payment of loan received
Perolehan utang obligasi                        261.596           2.928.550 Proceed from bonds payable

Kas Bersih Diperoleh dari Aktivitas                                             Cash Provided by Financing
  Pendanaan                                     261.596           2.500.480       Activities

                                                                             NET INCREASE
KENAIKAN (PENURUNAN)                                                           (DECREASE) IN CASH
  BERSIH KAS DAN BANK                                 301          (399.814)   AND CASH IN BANK

KAS DAN BANK                                                                    CASH AND CASH IN BANK AT
  AWAL TAHUN                                      4.371             404.185       THE BEGINNING OF THE YEAR

KAS DAN BANK                                                                    CASH AND CASH IN BANK AT
  AKHIR TAHUN                                     4.672                4.371      THE END OF THE YEAR




                                                      - I.5 -
Page 518
Lampiran I                                                                                                  Attachment I

PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                     Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                     Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                      (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                          otherwise stated)


1.   Kas dan Bank                                              1.   Cash and Cash in Banks

                                              2023                  2022

     Kas                                              5                      5 Cash

     Bank                                                                      Banks
       Rupiah                                                                    Rupiah
         Pihak Berelasi                                                            Related party
           PT Bank Sinarmas Tbk                   1.378                  2.628        PT Bank Sinarmas Tbk
         Pihak Ketiga                                                            Third party
           PT Bank Maybank                                                         PT Bank Maybank
              Indonesia Tbk                          138                   146        Indonesia Tbk

       Total                                      1.516                  2.774 Total

       Dolar Amerika Serikat                                                       U.S Dollar
         Pihak Berelasi                                                              Related party
            PT Bank Sinarmas Tbk                  1.796                    210          PT Bank Sinarmas Tbk
         Pihak Ketiga                                                              Third party
            PT Bank Maybank                                                          PT Bank Maybank
              Indonesia Tbk                       1.355                  1.382            Indonesia Tbk

       Total                                      3.151                  1.592 Total

     Total                                        4.672                  4.371 Total



2.   Investasi Jangka Pendek                                   2.   Short-term Investments
                                              2023                  2022

     Saham                                    2.135.455              2.688.816 Securities
     Deposito berjangka                         520.000                822.000 Time deposits
     Obligasi                                   150.000                150.000 Bonds

                                              2.805.455              3.660.816
     Cadangan kerugian penurunan nilai         (175.175)              (150.000) Allowance for impairment losses

     Jumlah                                   2.630.280              3.510.816 Total



3.   Piutang Lain-lain                                         3.   Other accounts receivable
                                              2023                  2022

     Pihak berelasi                                                              Related parties
       Piutang kepada entitas anak            2.848.213              2.784.894     Receivables from subsidiaries
       Piutang sewa                               1.384                    743     Lease receivables
       Piutang dividen                               15                     15     Dividend receivables

       Jumlah                                 2.849.612              2.785.652     Total

     Pihak ketiga                                                                Third parties
       Piutang penjualan                        40.054                 40.054      Sales receivables
       Piutang karyawan                            126                    186      Employee receivables
       Lain-lain                               299.700                304.561      Others

       Jumlah                                  339.880                344.801 Total

     Jumlah                                   3.189.492              3.130.453 Total
     Cadangan kerugian penurunan nilai          (60.228)               (83.623) Allowance for impairment losses

     Jumlah - bersih                          3.129.264              3.046.830 Total - net



                                                     - I.6 -
Page 519
Lampiran I                                                                                                 Attachment I

PT SINAR MAS MULTIARTHA TBK                                                      PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                     Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                     Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                               For the Years Ended
31 Desember 2023 dan 2022                                                             December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                      (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                          otherwise stated)


4.   Investasi dalam Saham                                     4.   Investments in Shares of Stock

              Perusahaan                      2023                  2022                               Companies

     PT Bank Sinarmas Tbk                      3.488.695             3.488.695   PT Bank Sinarmas Tbk
     PT Sinar Mas Multifinance                 1.550.074             1.190.074   PT Sinar Mas Multifinance
     PT Shinta Utama                           1.349.211             1.349.211   PT Shinta Utama
     PT Arthamas Solusindo                       803.079               803.079   PT Arthamas Solusindo
     PT Pasar Dana Pinjaman                      710.249                 5.000   PT Pasar Dana Pinjaman
     PT MSIG Life Insurance IndonesiaTbk         675.531               452.406   PT MSIG Life Insurance IndonesiaTbk
     PT Jakarta Teknologi Utama                  562.096               562.096   PT Jakarta Teknologi Utama
     PT Rizki Lancar Sentosa                     494.749               486.749   PT Rizki Lancar Sentosa
     PT Sinartama Gunita                         430.665               430.665   PT Sinartama Gunita
     PT Elang Andalan Nusantara                  384.371               390.462   PT Elang Andalan Nusantara
     PT Summit Oto Finance                       366.309               366.309   PT Summit Oto Finance
     PT AB Sinar Mas Multifinance                257.949               257.949   PT AB Sinar Mas Multifinance
     PT Asuransi Sinar Mas                       199.998               199.998   PT Asuransi Sinar Mas
     PT Sinarmas Sekuritas                       142.699               142.699   PT Sinarmas Sekuritas
     PT Oto Multiartha                           139.306               139.306   PT Oto Multiartha
     PT SGMW Multifinance Indonesia              114.000               114.000   PT SGMW Multifinance Indonesia
     PT Sinar Mitra Sepadan Finance               96.193                96.193   PT Sinar Mitra Sepadan Finance
     PT Asuransi Simas Insurtech                  61.500                61.500   PT Asuransi Simas Insurtech
     PT Sinarmas Hana Finance                     52.500                52.500   PT Sinarmas Hana Finance
     PT Sinarmas Ventura                          49.994                49.994   PT Sinarmas Ventura
     PT Peduli Sehat Gotongroyong                 21.875                21.875   PT Peduli Sehat Gotongroyong
     PT Bank China Construction Bank                                             PT Bank China Construction Bank
       Indonesia Tbk                              13.500               13.500      Indonesia Tbk
     PT Otoraja Network Indonesia                 10.000               10.000    PT Otoraja Network Indonesia
     PT Balai Lelang Sinarmas                      9.999                9.999    PT Balai Lelang Sinarmas
     PT Oriente Mas Sejahtera                      9.000                9.000    PT Oriente Mas Sejahtera
     PT Dana Pinjaman Inklusif                     7.600                7.600    PT Dana Pinjaman Inklusif
     PT Dana Saham Bersama                         4.999                4.999    PT Dana Saham Bersama
     Global Asian Investment Limited               4.629                4.629    Global Asian Investment Limited
     PT Reasuransi Nusantara Makmur                3.000                3.000    PT Reasuransi Nusantara Makmur
     PT Pasar Gadai Digital                        2.999                2.999    PT Pasar Gadai Digital
     PT Simas Money Changer                        2.768                2.768    PT Simas Money Changer
     PT Wapindo Jasaartha                          2.519                2.519    PT Wapindo Jasaartha
     PT Digital Solusindo Nusantara                2.499                2.499    PT Digital Solusindo Nusantara
     PT Asuransi Simas Jiwa                        1.692                1.692    PT Asuransi Simas Jiwa
     Sinarmas Life Insurance, S.A.                 1.435                1.435    Sinarmas Life Insurance, S.A.
     PT Sinar Artha Trading                        1.000                1.000    PT Sinar Artha Trading
     Sinar Mas Insurance, S.A.                       966                  966    Sinar Mas Insurance, S.A.
     PT Sinar Artha Inforindo                         60                   60    PT Sinar Artha Inforindo
     PT Sinar Artha Solusindo                         60                   60    PT Sinar Artha Solusindo
     PT Arthamas Informatika                          60                   60    PT Arthamas Informatika
     PT Sinar Artha Konsulindo                        50                   50    PT Sinar Artha Konsulindo
     PT Artha Bina Usaha                              12                   12    PT Artha Bina Usaha
     PT Wapindo Jasa Farma                             1                    1    PT Wapindo Jasa Farma
     PT Bima Multi Finance                             -              111.751    PT Bima Multi Finance
     Nanovest Ltd                                      -                1.570    Nanovest Ltd
     PT Simas Sehat Sejahtera                          -                    1    PT Simas Sehat Sejahtera

     Jumlah                                   12.029.891            10.852.930 Total
     Cadangan kerugian penurunan nilai            (8.000)              (30.051) Allowance for impairment

     Jumlah - bersih                          12.021.891            10.822.879 Total - net




                                                     - I.7 -
Page 520
Lampiran I                                                                                                              Attachment I

PT SINAR MAS MULTIARTHA TBK                                                            PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                           Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                           Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                     For the Years Ended
31 Desember 2023 dan 2022                                                                   December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                            (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                otherwise stated)


5.   Aset Tetap                                                      5.       Property and Equipment
                                                 Perubahan selama tahun 2023/
                                                 Changes during the year 2023
                           1 Januari/                                                            31 Desember/
                            January     Penambahan/     Pengurangan/           Reklasifikasi/     December
                             2023         Additions      Deductions           Reclassification       2023

     Biaya Perolehan:                                                                                           At Cost:

     Tanah                     17.116             -                       -                  -         17.116   Land
     Bangunan                  10.185             -                       -                  -         10.185   Building
     Kendaraan                     14             -                       -                  -             14   Motor vehicles
     Perlengkapan kantor       14.089           211                       -                  -         14.300   Furniture and fixtures
     Peralatan kantor           3.327             -                       -                  -          3.327   Office equipment

     Jumlah                    44.731           211                       -                  -         44.942   Total

     Akumulasi                                                                                                  Accumulated
       penyusutan:                                                                                                 depreciation:
     Bangunan                   4.073           509                       -                  -          4.582   Building
     Kendaraan                     14            26                       -                  -             40   Motor vehicles
     Perlengkapan kantor        2.961           316                       -                  -          3.277   Furniture and fixtures
     Peralatan kantor          10.239           349                       -                  -         10.588   Office equipment

     Jumlah                    17.287          1.200                      -                  -         18.487   Total

     Nilai tercatat            27.444                                                                  26.455   Net carrying value



                                                 Perubahan selama tahun 2022/
                                                 Changes during the year 2022
                           1 Januari/                                                            31 Desember/
                            January     Penambahan/     Pengurangan/           Reklasifikasi/     December
                             2022         Additions      Deductions           Reclassification       2022

     Biaya Perolehan:                                                                                           At Cost:

     Tanah                     17.116             -                       -                  -         17.116   Land
     Bangunan                  10.185             -                       -                  -         10.185   Building
     Kendaraan                     14             -                       -                  -             14   Motor vehicles
     Perlengkapan kantor       13.922           167                       -                  -         14.089   Furniture and fixtures
     Peralatan kantor           3.327             -                       -                  -          3.327   Office equipment

     Jumlah                    44.564           167                       -                  -         44.731   Total

     Akumulasi                                                                                                  Accumulated
       penyusutan:                                                                                                 depreciation:
     Bangunan                   3.564           509                       -                  -          4.073   Building
     Kendaraan                     14             -                       -                  -             14   Motor vehicles
     Perlengkapan kantor        9.715           524                       -                  -         10.239   Furniture and fixtures
     Peralatan kantor           2.557           404                       -                  -          2.961   Office equipment

     Jumlah                    15.850          1.437                      -                  -         17.287   Total

     Nilai tercatat            28.714                                                                  27.444   Net carrying value




                                                           - I.8 -
Page 521
 Lampiran I                                                                                                             Attachment I

 PT SINAR MAS MULTIARTHA TBK                                                              PT SINAR MAS MULTIARTHA TBK
 Informasi Tambahan                                                                             Supplementary Information
 Catatan atas Laporan Keuangan Entitas Induk                             Notes to the Parent Company Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                       For the Years Ended
 31 Desember 2023 dan 2022                                                                     December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                              (Figures are Presented in Millions Rupiah, unless
 kecuali dinyatakan lain)                                                                                  otherwise stated)


 6.   Aset Tetap dalam Rangka Bangun, Kelola, dan                       6.   Property Under Build, Operate and Transfer
      Serah                                                                  Agreement
                                                     Perubahan selama tahun 2023/
                                                         Changes during 2023
                                   1 Januari/                                                  31 Desember
                                    January        Penambahan/           Pengurangan/           December
                                      2023          Additions             Deductions               2023

      Biaya Perolehan:                                                                                        At Cost:
      Bangunan                            62.690                 -                      -            62.690   Buildings
      Peralatan                            9.468                 -                      -             9.468   Office equipment
      Perlengkapan                         7.054                 -                      -             7.054   Furniture and fixtures
      Aset dalam pembangunan              61.732                 -                      -            61.732   Building under constructions

      Jumlah                             140.944                 -                      -           140.944   Total

      Akumulasi                                                                                               Accumulated
        penyusutan:                                                                                              depreciation:
      Bangunan                            43.322             3.134                      -            46.456   Buildings
      Peralatan                            9.467                 -                      -             9.467   Office equipment
      Perlengkapan                         6.875               179                      -             7.054   Furniture and fixtures

      Jumlah                              59.664             3.313                      -            62.977   Total

      Nilai tercatat                      81.280                                                     77.967   Net carrying value


                                                     Perubahan selama tahun 2022/
                                                         Changes during 2022
                                   1 Januari/                                                  31 Desember
                                    January        Penambahan/           Pengurangan/           December
                                      2022          Additions             Deductions               2022

      Biaya Perolehan:                                                                                        At Cost:
      Bangunan                            62.690                 -                      -            62.690   Buildings
      Peralatan                            9.468                 -                      -             9.468   Office equipment
      Perlengkapan                         7.054                 -                      -             7.054   Furniture and fixtures
      Aset dalam pembangunan              61.732                 -                      -            61.732   Building under constructions

      Jumlah                             140.944                 -                      -           140.944   Total

      Akumulasi                                                                                               Accumulated
        penyusutan:                                                                                              depreciation:
      Bangunan                            40.189             3.133                      -            43.322   Buildings
      Peralatan                            9.467                 -                      -             9.467   Office equipment
      Perlengkapan                         6.816                59                      -             6.875   Furniture and fixtures

      Jumlah                              56.472             3.192                      -            59.664   Total

      Nilai tercatat                      84.472                                                     81.280   Net carrying value




7.    Aset Lain-Lain                                                    7.   Other Assets
                                                      2023                   2022
      Pihak berelasi                                                                        Related parties
                                                                                              Advanced payment for
         Uang muka setoran modal                          2.295                   8.000          capital stock
         Sewa dibayar dimuka                              2.387                       -       Prepaid rent
         Simpanan jaminan                                   185                   3.365       Security deposits
         Biaya dibayar dimuka                                12                      15       Prepaid expenses
         Jumlah                                           4.879                  11.380 Total
      Pihak ketiga                                                                      Third parties
        Uang muka investasi                             674.604                994.383    Advances for investments
        Pajak dibayar dimuka                              4.110                  2.831    Prepaid taxes
                                                                                          Advanced payment for
         Uang muka setoran modal                             500                    500      capital stock

         Jumlah                                         679.214                997.714 Total
      Jumlah                                            684.093               1.009.094 Total



                                                              - I.9 -
Page 522
 Lampiran I                                                                                                            Attachment I

 PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
 Informasi Tambahan                                                                            Supplementary Information
 Catatan atas Laporan Keuangan Entitas Induk                            Notes to the Parent Company Financial Statements
 Untuk Tahun-tahun Yang Berakhir                                                                      For the Years Ended
 31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
 (Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah, unless
 kecuali dinyatakan lain)                                                                                 otherwise stated)


8.    Utang Pajak                                                  8.      Taxes Payable
                                                    2023                    2022

      Pajak penghasilan                                                                  Taxes Payable
        Pasal 21                                           536                     113     Article 21
        Pasal 29                                            21                      22     Article 29
        Pasal 23                                            10                       7     Article 23
        Pasal 4 (2)                                          -                       1     Article 4(2)

      Jumlah                                               567                     143 Total




 9.   Utang Obligasi                                               9.      Bonds Payable
                                                    2023                    2022

      Nilai nominal                                  4.857.950              4.598.281 Nominal value
      Biaya transaksi yang belum diamortisasi          (20.208)               (22.135) Unamortized transaction costs

      Jumlah                                         4.837.742              4.576.146 Total



 10. Liabilitas Lain-lain                                          10. Other Liabilities
                                                    2023                    2022

      Pihak berelasi                                                                     Related parties
        Pendapatan sewa diterima dimuka                    911                     750     Unearned revenues

      Pihak ketiga                                                                       Third parties
        Utang dividen                                      417                     417     Dividend payable
        Lain-lain                                          527                     579     Others

        Jumlah                                             944                     996 Total

      Jumlah                                             1.855                  1.746 Total



 11. Modal Saham                                                       11. Capital stock

      Susunan kepemilikan saham Perusahaan pada                            The share ownership in the Company as at
      tanggal 31 Desember 2023 dan 2022 adalah                             December 31, 2023 and 2022 follows:
      sebagai berikut:

      Berdasarkan Seri Saham                                               By Series of Shares

                                                            2023 dan/and 2022

                                                                         Nilai Nominal
                                                                          per Saham
                                                                       (dalam Rppenuh)
                                                    Jumlah                  Nominal          Jumlah
                                                 Lembar Saham                Value        Modal Disetor/
                                                   Number of               per share      Total paid-up
           Jenis saham                 %            Shares                (in full Rp)    Capital stock                Shares

      Seri A                             2,24%       142.474.368                5.000             712.372     Seri A
      Seri B                            97,76%     6.225.190.349                  100             622.519     Seri B

      Jumlah                           100,00%     6.367.664.717                                1.334.891     Total




                                                            - I.10 -
Page 523
Lampiran I                                                                                                    Attachment I

PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                        Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                        Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                         (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                             otherwise stated)


   Berdasarkan Kepemilikan Pemegang Saham                             By Ownership Interest

                                                              2023

                                                                  Jumlah
                                                               Lembar Saham/
                                                                  Number
             Pemegang Saham                      %               of Shares                           Stockholders

   PT Sinar Mas Cakrawala                         42,26%            2.690.977.644 PT Sinar Mas Cakrawala
   Bank of Singapore Limited S/A PT Sinar Mas                                     Bank of Singapore Limited S/A PT Sinar
      Cakrawala                                    9,42%              600.000.000    Mas Cakrawala
   Indra Widjaja                                   0,03%                2.180.600 Indra Widjaja
   Masyarakat (masing-masing di bawah 5%)         48,29%            3.074.506.473 Masyarakat (masing-masing di bawah 5%)

   Jumlah                                        100,00%            6.367.664.717 Jumlah


                                                              2022

                                                                  Jumlah
                                                               Lembar Saham/
                                                                  Number
             Pemegang Saham                      %               of Shares                           Stockholders


   Bank of Singapore Limited S/A PT Sinar Mas                                       Bank of Singapore Limited S/A PT Sinar Mas
      Cakrawala                                   51,12%            3.255.000.000      Cakrawala
   PT Sinar Mas Cakrawala                          0,16%               10.257.697   PT Sinar Mas Cakrawala
   Indra Widjaja (Komisaris Utama)                 0,03%                2.180.600   Indra Widjaja (Komisaris Utama)
   Ferita (Direktur)                               0,00%                  274.393   Ferita (Direktur)
   Masyarakat (masing-masing di bawah 5%)         48,68%            3.099.952.027   Masyarakat (masing-masing di bawah 5%)

   Jumlah                                        100,00%            6.367.664.717 Jumlah




12. Pendapatan                                                     12. Income

                                                2023                   2022

   Dividen                                       321.967                 159.289 Deviden Income
                                                                                 (Gain) Loss on Sale Short-Term
   Keuntungan penjualan                                                             Investment (Marketable
     Investasi jangka pendek                     308.143                 182.138    securities)
   Bunga                                          79.151                  46.840 Interest Income
   Sewa                                           13.501                  15.883 Rent
   Keuntungan dari investasi                                                     Gain on investment in
     pada unit reksadana                             29.415               75.294    units of mutual funds
   Keuntungan (kerugian) kurs                                                    Gain on foreign currency
     mata uang asing - bersih                            -                80.296    exchange - net
   Lainnya                                               4                47.582 Others

   Jumlah                                        752.181                 607.322 Total




                                                        - I.11 -
Page 524
Lampiran I                                                                                                     Attachment I

PT SINAR MAS MULTIARTHA TBK                                                         PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                        Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                        Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                  For the Years Ended
31 Desember 2023 dan 2022                                                                December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                         (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                             otherwise stated)


13. Beban Umum dan Administrasi                                    13. General and Administrative Expenses

                                               2023                    2022

    Beban profesional                              14.803                  6.559   Professional fee
    Beban listrik, air dan telepon                  6.691                  6.291   Electricity, water and telephone
    Teknologi informasi                             3.143                  8.375   Information technology
    Beban sewa                                      2.437                  7.218   Rent
    Beban asuransi                                    676                    823   Insurance
    Jamsostek                                         182                     24   Jamsostek
    Beban iklan                                        77                    119   Advertising
    Beban administrasi efek                            33                     17   Securities administration expenses
    Beban perjalanan                                   44                      -   Travelling
    Perlengkapan kantor                                11                     13   Office supplies
    Lain-Lain                                       3.258                  3.691   Others

    Jumlah                                         31.355                 33.130 Total




14. Liabilitas imbalan Kerja Jangka Panjang                        14. Long-Term Employee Benefits Liability

    Mulai tanggal 2 Februari 2021, Grup melakukan                     Starting from February 2, 2021, the Group
    perhitungan liabilitas imbalan kerja jangka                       calculated the employee benefit liabilities based on
    berdasarkan Undang-Undang No. 11 Tahun 2020                       the Law No. 11 of 2020 on Job Creation (the “Job
    tentang Cipta Kerja (“Undang-Undang Cipta Kerja”)                 Creation Law”) and Government Regulation No. 35
    dan peraturan Pemerintah No. 35 Tahun 2021                        of 2021 regarding fixed-term employment contract,
    tentang Perjanjian Kerja Waktu Tertentu, Alih                     outsourcing, work time and rest time, and
    Daya, Waktu Kerja dan Waktu Istirahat, dan                        employment termination. Before Government
    Pemutusan Hubungan Kerja. Sebelum Peraturan                       Regulation No. 35 of 2021 was enacted, the
    Pemerintah No. 35 Tahun 2021 diberlakukan,                        calculation of employee benefit liabilities was based
    perhitungan liabilitas imbalan kerja didasarkan                   on Law No. 13 of 2003.
    pada Undang-Undang No. 13 Tahun 2003.

    Presiden Republik Indonesia telah menetapkan                      The President of the Republic of Indonesia has
    Peraturan Pemerintah Pengganti Undang Undang                      issued Government Regulation in Lieu of Law No. 2
    No. 2 Tahun 2022 tentang Cipta Kerja (Perppu                      of 2022 concerning Job Creation (Perppu Cipta
    Cipta Kerja 2/2022) pada tanggal 30 Desember                      Kerja 2/2022) on December 30, 2022 which is the
    2022 yang merupakan pelaksanaan dari Putusan                      implementation of the Constitutional Court Decision
    MK Nomor 91/PUU-XVIII/2020. Dengan berlakunya                     Number 91/PUU-XVIII/2020. With the enactment of
    Perppu ini, UU No. 11/2020 tentang Cipta Kerja                    this Perppu, Law no. 11/2020 concerning Job
    dicabut dan dinyatakan tidak berlaku.                             Creation is repealed and declared invalid.

    Untuk pendanaan imbalan kerja jangka Panjang                      To fund the long-term employee benefits, the
    tersebut, Perusahaan menyelenggarakan program                     Company has a defined benefit pension plan for all
    dana pension manfaat pasti untuk seluruh                          eligible permanent employees. The benefits will be
    karyawan tetap yang memenuhi syarat. Imbalan                      paid when the employee retires, is permanently
    tersebut akan dibayarkan pada saat karyawan                       disabled or dismissed.
    pension, cacat tetap atau diberhentikan.

    Perusahaan telah menunjuk PT Asuransi Simas                       The Company has appointed PT Asuransi Simas
    Jiwa untuk mengelola program pension tersebut                     Jiwa to manage the pension program through the
    melalui Dana Pensiun Lembaga Keuangan Simas                       Simas Jiwa Financial Institution Pension Fund, the
    Jiwa, yang pendiriannya telah disahkan menurut                    establishment of which has been ratified according
    Keputusan Dewan Komisioner Otoritas Jasa                          to the Decree of the Board of Commissioners of
    Keuangan No. KEP-61/NB.1/2018 tanggal 16                          the Financial Services Authority No. KEP-
    Oktober 2018 mengenai Pengesahan atas                             61/NB.1/2018 dated October 16, 2018 regarding
    Peraturan Dana Pensiun dari Dana Pensiun                          the Ratification of the Pension Fund Regulation of
    Lembaga Keuangan (DPLK) Simas Jiwa.                               the Simas Jiwa Financial Institution Pension Fund
                                                                      (DPLK).



                                                        - I.12 -
Page 525
Lampiran I                                                                                                          Attachment I

PT SINAR MAS MULTIARTHA TBK                                                             PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                            Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                            Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                      For the Years Ended
31 Desember 2023 dan 2022                                                                    December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                             (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                 otherwise stated)


   Perhitungan aktuaria terakhir atas liabilitas imbalan                 The latest actuarial calculation of long-term
   kerja jangka panjang dilakukan oleh KKA Agus                          employee benefit liabilities is carried out by KKA
   Susanto, aktuaris independen, tertanggal 8 Maret                      Agus Susanto, independent actuaries, dated
   2024.                                                                 March 8, 2024.
   Jumlah karyawan yang berhak atas imbalan kerja                         The number of employees who are entitled to long-
   (iuran kerja) jangka panjang tersebut masing-                          term employee benefits (employment contributions)
   masing sebanyak 56 dan 41 karyawan pada tahun                          are 56 and 41 employees in 2023 and 2022,
   2023 dan 2022.                                                         respectively.

   Jumlah yang diakui dalam laporan laba rugi dan                         The amounts recognized in the statement of profit
   penghasilan komprehensif lain sehubungan                               or loss and other comprehensive income in relation
   dengan imbalan pasti adalah sebagai berikut:                           to defined benefits are as follows:
                                                  2023                     2022

                                                                                      Present value of defined
   Nilai kini kewajiban imbalan pasti                  2.493                   1.846    benefit obligation
   Nilai wajar aset program                           (2.951)                 (2.760) Fair value of plan assets
   Pendapatan pada aset program                          458                     914 Impact of asset ceiling

   Jumlah liabilitas imbalan kerja                                                        Total long-term employee benefit
     jangka panjang                                           -                       -     liabilities


   Jumlah-jumlah yang diakui dalam laporan laba rugi                      The amounts recognized in the statement of profit
   dan penghasilan komprehensif lain sehubungan                           or loss and other comprehensive income in relation
   dengan imbalan pasti adalah sebagai berikut:                           to defined benefits are as follows:
                                                  2023                     2022

   Biaya jasa kini                                          303                      7 Current service costs
   Biaya bunga neto                                         137                    105 Net interest expense
   Pendapatan pada aset program                            (137)                  (105) Income on plan assets
   Impact IFRIC                                               -                   (314) Impact IFRIC

   Komponen biaya imbalan pasti yang                                                   Component of defined benefits
     diakui di laba rugi                                   303                    (307)  cost recognized in profit or loss
   Pengukuran kembali liabilitas imbalan pasti                                         Remeasurment on the defined benefits
     keuntungan aktuarial yang diakui dalam                                              liability - actuarial gain recognized
     penghasilan komprehensif lain                         (303)                   307   in other comprehensive income

   Jumlah                                                     -                       - Total


   Biaya imbalan pasti untuk tahun berjalan disajikan                     The current service cost and the net interest
   sebagai bagian dari “Beban Umum dan                                    expense are included in the “General and
   Administrasi”.                                                         administrative expenses” in the profit or loss.

   Mutasi liabilitas imbalan kerja jangka panjang                         Movements of long-term employee benefit liability
   adalah sebagai berikut:                                                follows:
                                                  2023                     2022

   Liabilitas imbalan kerja jangka panjang                                              Balance at the beginning
      pada awal tahun                                                                 -   of the year
   Beban imbalan kerja jangka panjang                                                   Expense of long-term employee
      tahu berjalan                                        303                    (307)   benefits
                                                                                          Adjustment of employee benefit
   Keuntungan yang timbul dari perubahan                                                Actuarial gain arising from
     asumsi aktuarial                                      (303)                   307    changes in assumptions

   Liabilitas imbalan kerja jangka panjang
     pada akhir tahun                                         -                       - Balance at the end of the year


                                                            - I.13 -
Page 526
Lampiran I                                                                                                                 Attachment I

PT SINAR MAS MULTIARTHA TBK                                                                   PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                                  Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                                  Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                            For the Years Ended
31 Desember 2023 dan 2022                                                                          December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                   (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                       otherwise stated)


   Analisa sensitivitas dari perubahan asumsi-asumsi                            The sensitivities of the overall long-term employee
   utama terhadap liabilitas imbalan kerja jangka                               benefit liabilities follows:
   panjang adalah sebagai berikut:
                                                         31 Desember/December 31, 2023

                                                 Dampak terhadap liabilitas imbalan pasti/
                                                   Impact on Defined Benefit Liability

                                           Perubahan               Kenaikan             Penurunan
                                             Asumsi/                Asumsi/              Asumsi//
                                            Changes                Increase              Decrease
                                         In Assumption          In Assumption         In Assumption

   Tingkat diskonto                                1%                   (162)                       183   Discount rate

                                                         31 Desember/December 31, 2022

                                                 Dampak terhadap liabilitas imbalan pasti/
                                                   Impact on Defined Benefit Liability

                                           Perubahan               Kenaikan             Penurunan
                                             Asumsi/                Asumsi/              Asumsi//
                                            Changes                Increase              Decrease
                                         In Assumption          In Assumption         In Assumption

   Tingkat diskonto                                1%                   (154)                       175   Discount rate


   Asumsi aktuarial utama yang digunakan untuk                                  The principal actuarial assumptions used in the
   menghitung imbalan kerja jangka panjang adalah                               valuation of the defined post-employment benefits
   sebagai berikut:                                                             liability are as follows:
                                                    2023                            2022

   Usia pensiun normal                                           57                            57     Retirement age
   Tingkat diskonto                                           6,9%                          7,4%      Discount rate
   Tingkat kenaikan gaji                                      8,0%                          8,0%      Salary growth rate
   Tabel mortalita                            Indonesia - IV (2019)         Indonesia - IV (2019)     Mortality age


15. Pajak Penghasilan                                                   15. Income Taxes

   Pajak Kini                                                                   Current tax

   Rekonsiliasi antara laba sebelum pajak menurut                               A reconciliation between profit before tax per
   laporan laba rugi dan penghasilan komprehensif                               statements of profit or loss and other
   lain dengan laba kena pajak adalah sebagai                                   comprehensive income and taxable income
   berikut:                                                                     follows:
                                                         2023                    2022

   Laba sebelum pajak menurut                                                               Profit before tax per
     laporan laba rugi dan                                                                    statements of profit or loss
     penghasilan komprehensif lain                          34.559                   16.136   and other comprehensive income
   Perbedaaan temporer:                                                                     Temporer differences:
     Imbalan kerja jangka panjang                                303                  (307)   long-term employee benefits
   Perbedaaan tetap:                                                                        Permanent differences:
     Keuntungan atas penurunan nilai
        wajar-efek yang diukur pada                                                             Unrealized gain on increase
        nilai wajar melalui laba rugi                            -                        -        in fair value
     Beban umum dan administrasi                           635.129                  495.471     General and administrative expenses
     Beban penyusutan aset tetap                             3.821                    3.193     Depreciation expense
     Beban sewa                                              1.705                        -     Rent expenses
     Beban lain-lain                                         2.225                    6.280     Other expenses
     Rugi selisih kurs                                      25.695                        -     Loss on foreign exchange
     Pendapatan sewa                                       (10.872)                 (15.883)    Rent income
     Pendapatan bunga                                      (35.099)                 (23.996)    Interest income
     Kerugian (keuntungan) dari                                                                 Gain from investment in units
        investasi pada unit reksa dana                      (29.415)                (75.294)       of mutual funds
     Pendapatan dividen                                    (321.967)               (159.289)    Dividend income


                                                                 - I.14 -
Page 527
Lampiran I                                                                                                                Attachment I

PT SINAR MAS MULTIARTHA TBK                                                                 PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                                Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                                Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                          For the Years Ended
31 Desember 2023 dan 2022                                                                        December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                                 (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                                     otherwise stated)


                                                       2023                    2022

   Pendapatan atas penjualan                                                                  Income from sale of short
       Investasi jangka pendek                           (308.143)              (182.138)        term investment
     Laba selisih kurs                                          -                (80.296)     Gain on foreign exchange
     Ekuitas pada rugi bersih                                   -                      -      Equity in net loss of associate entity
     Kerugian penurunan nilai piutang                      33.175                 32.061      Loss on impairment of receivables

   Jumlah                                                   (3.746)                    109 Total

   Laba kena pajak (rugi fiskal)                           31.116                 15.938 Taxable profit (tax loss)
   Beban pajak kini                                         6.846                  3.506 Current tax expense
   Pajak dibayar dimuka                                     6.825                  3.484 Prepaid taxes

   Jumlah utang pajak kini                                      21                      22 Current tax payable amount


   Pajak Tangguhan                                                            Deferred Tax
                                                        Dikreditkan (dibebankan) ke/
                                                            Credit (charged) to

                                                                             Penghasilan
                                                                            Komprehensif
                                                                                 Lain/
                                   1 Januari/                                   Other          31 Desember/
                                    January           Laba rugi/           comprehensive        December
                                      2023          Profit and loss            income              2023

   Aset Pajak Tangguhan                                                                                           Deferred Tax Assets
     Imbalan kerja jangka                                                                                           Long term employee
        panjang                                 -                67                    (67)                   -        benefits

                                                        Dikreditkan (dibebankan) ke/
                                                            Credit (charged) to

                                                                             Penghasilan
                                                                            Komprehensif
                                                                                 Lain/
                                   1 Januari/                                   Other          31 Desember/
                                    January           Laba rugi/           comprehensive        December
                                      2022          Profit and loss            income              2022

   Aset Pajak Tangguhan                                                                                           Deferred Tax Assets
     Imbalan kerja jangka                                                                                           Long term employee
        panjang                                 -              (68)                    68                     -        benefits

   Rekonsiliasi antara jumlah beban pajak dan laba                            A reconciliation between the total tax expense and
   akuntansi Perusahaan yang dihitung berdasarkan                             the amounts computed by applying the effective
   tarif pajak yang berlaku adalah sebagai berikut:                           tax rate follows:

                                                       2023                    2022

   Laba sebelum pajak menurut                                                             Profit before tax per statements
     laporan laba rugi dan                                                                   of profit or loss and
     penghasilan komprehensif lain                         34.559                 16.136     other comprehensive income
   Beban pajak atas dasar tarif                                                           Tax expense at effective
     pajak yang berlaku                                     7.603                  3.550     tax rates
   Pengaruh pajak atas                                                                    Tax effects of permanent
     perbedaan tetap:                                                                        differences:
   Beban umum dan                                                                         General and administrative
     administrasi                                         139.728                109.004     expenses
   Beban penyusutan aset tetap                                841                    702 Depreciation expense
   Beban sewa                                                 375                      - Rent expenses
   Beban lain-lain                                            489                  1.381 Other expenses
   Rugi selisih kurs                                        5.653                      - Loss on foreign exchange
   Pendapatan sewa                                         (2.392)                (3.494) Rent income
   Pendapatan bunga                                        (7.722)                (5.279) Interest income



                                                                - I.15 -
Page 528
Lampiran I                                                                                                  Attachment I

PT SINAR MAS MULTIARTHA TBK                                                       PT SINAR MAS MULTIARTHA TBK
Informasi Tambahan                                                                      Supplementary Information
Catatan atas Laporan Keuangan Entitas Induk                      Notes to the Parent Company Financial Statements
Untuk Tahun-tahun Yang Berakhir                                                                For the Years Ended
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
(Angka-angka Disajikan dalam Jutaan Rupiah,                       (Figures are Presented in Millions Rupiah, unless
kecuali dinyatakan lain)                                                                           otherwise stated)


                                              2023                   2022

   Kerugian (keuntungan) dari                                                   Gain from investment in units
     investasi pada unit reksa dana              (6.471)               (16.565)    of mutual funds
   Pendapatan dividen                           (70.833)               (35.044) Dividend income
   Pendapatan atas penjualan                                                    Income from sale of short
     investasi jangka pendek                    (67.791)               (40.070)    term investment
   Laba selisih kurs                                  -                (17.664) Gain on foreign exchange
   Kerugian penurunan nilai                                                     Loss on impairment of
     piutang                                     7.299                   7.053     receivables

   Jumlah                                            (824)                  24 Total

   Beban pajak Perusahaan                        6.779                   3.574 Tax expense of the Company




                                                      - I.16 -
Page 529
PT Sinar Mas Multiartha Tbk
Menara Tekno Lt. 7
Jl. Fachruddin No. 19, Jakarta Pusat, 10250
   (021) 392 5660
   (021) 392 5788
   multiartha@smma.co.id
   www.smma.co.id

2023
Laporan Tahunan
Annual Report

File

File Open PDF
Source IDX
Size9.98 MB
Published24 Apr 2024
Pages529
Characters2,669,632
Text sourceEmbedded text layer
OCR confidence—

Names mentioned 288 people and organisations named in the text · linked when the evidence is strong

linked org Sinar Mas Multiartha Tbk p.2 ×342
linked org PT Sinar Mas Multifinance. p.22 ×69
linked org Sinar Mas p.24 ×73
linked person BURHANUDDIN ABDULLAH · Direktur Utama p.27 ×15
linked org Itochu Corporation p.29 ×3
linked person Fuganto Widjaja p.32 ×13
linked person Robinson Simbolon · Commissioner p.42 ×10
linked person Ketut Sanjaya · Commissioner p.42 ×8
linked person Agus Leman Gunawan p.43 ×9
linked person Lili Wijata p.43 ×7
linked org PT Borneo Indobara p.44 ×10
linked org Golden Energy Mines Tbk p.44 ×22
linked org Berau Coal Energy Tbk p.44 ×5
linked org Golden Energy p.44 ×2
linked org Smartfren Telecom Tbk p.48 ×5
linked — Indra Widjaja p.49 ×15
linked org Bank Danamon Indonesia Tbk p.51 ×3
linked org Dian Swastatika Sentosa Tbk p.51 ×5
linked org Duta Pertiwi Tbk p.51 ×5
linked org PT Grand Indonesia p.53 ×3
linked org Bank of Singapore p.58 ×2
linked org Sinar Mas Cakrawala p.58 ×4
linked org PT Oto Multiartha p.63 ×11
linked org PT Summit Oto Finance p.63 ×11
linked org Surya Mitra p.64 ×2
linked org Nusantara Makmur p.64 ×4
linked org Dana Pensiun p.89 ×3
linked org Bank Mandiri. p.113 ×2
linked person Eko Nugroho Tjahjadi · Commissioner p.119 ×2
linked person Henry Ricardo Liasnawi p.120 ×2
linked person Robby Tricahyo Wibowo p.120 ×2
possible org Otoritas Jasa Keuangan p.3 ×10
possible org Bursa Efek Indonesia p.14 ×7
possible org Bank Sinarmas Tbk · Director p.22 ×41
possible org Sinarmas Tbk · Direktur p.46 ×4
possible org Sinar Mas Multiartha Multiartha Tbk p.60 ×2
possible org PT Mega Corpora p.63 ×3
possible person Halim Alamsyah p.70
possible person Sammy Kristamuljana · Commissioner p.80 ×2
possible person Muhamad Ihsan p.85
possible person Aditiawan Chandra · Commissioner p.89 ×2
possible person Ketut Pasek p.99 ×4
possible person Muhammad Faisal p.99 ×2
possible person Sungkana · Commissioner p.107
possible person Mulabasa Hutabarat · Commissioner p.119 ×2
possible person Ricky Faerus p.120 ×2
possible person Irawan Susatya L p.120 ×2
possible person Rosalina Dhanudimuljo · Direktur Utama p.120 ×4
possible person Halim · President Director p.133 ×2
unresolved org Financial Services Authority p.3 ×7
unresolved person Pengendalian Gratifikasi · Komisaris p.7
unresolved org PT Sinarmas Sekuritas p.22 ×12
unresolved org PT Pasar Dana Pinjaman. p.22 ×10
unresolved org PT Pasar Dana Pinjaman. UNDERWRITING ASURANSI p.22
unresolved org PT Asuransi Sinar Mas p.24 ×17
unresolved person Howen Widjaja · Komisaris p.27 ×4
unresolved org PT Sinar p.28 ×3
unresolved org PT AB p.28 ×2
unresolved org PT AB Sinar Mas Multifinance p.28 ×11
unresolved org PT Otoraja Network p.28
unresolved org PT Otoraja Network Indonesia Indonesia p.28
unresolved org PT ONI p.28 ×2
unresolved org PT Rizki Lancar Sentosa p.29 ×8
unresolved org PT Digital Solusindo Nusantara. p.29 ×9
unresolved org PT Simas Sehat p.29
unresolved org PT Simas Sehat Sejahtera p.29
unresolved org PT Wapindo Jasaartha p.29 ×5
unresolved org PT Paramitra Multifinance p.29 ×2
unresolved org PT Bima p.29
unresolved org PT Bima Multi Finance p.29 ×4
unresolved org Cedar Street Limited p.29
unresolved org Street Limited p.29 ×2
unresolved org Indonesia Stock Exchange p.38 ×5
unresolved — Served · Director p.44 ×9
unresolved org PT Sinar Deed p.44
unresolved org Mas Multiartha Tbk p.44 ×3
unresolved org PT Borneo Indobara Bank Singapore p.44
unresolved org PT Roundhill Capital Indonesia p.44 ×4
unresolved org PT Super Wahana Tehno p.44 ×4
unresolved org Golden Energy Resources Limited p.44
unresolved org Multiartha Tbk p.45 ×5
unresolved org PT Asuransi Sinar Mas. Sertifikasi p.45
unresolved org Kantor Notaris Elly Soehandjojo He p.46
unresolved org Bank International Indonesia Tbk p.46 ×3
unresolved org PT Bank Furthermore p.46
unresolved org PT Sinar Mas Multifinance Audit Committee p.46
unresolved org PT Panji Ratu p.46 ×4
unresolved org PT Simas Poin Indonesia p.46 ×3
unresolved org PT Sinarmas Concurrently p.46
unresolved org PT Sinarmas Ventura p.46 ×2
unresolved org PT Pasar Dana Pinjaman Ventura p.46
unresolved org PT Pasar Dana p.46 ×4
unresolved org PT Data Opal Terpadu p.46 ×8
unresolved org PT Zimba Onix Mustika p.46 ×7
unresolved org PT Sistem Loka Triprima p.46 ×7
unresolved org PT Pasar Gadai Digital p.46 ×8
unresolved org Kementerian Keuangan p.47
unresolved org Ministry of Finance p.47
unresolved org Pengawas Pasar p.47
unresolved org Pengawas Pasar Modal p.47 ×2
unresolved org Bank Indonesia p.48 ×24
unresolved org Bank Examiner p.48
unresolved org Bank Indonesia Bali p.48 ×2
unresolved org PT Bank Barclays Indonesia p.48 ×2
unresolved org PT Sinar Mas Agro Resources p.48 ×3
unresolved org PT Sinar Mas Agro p.48
unresolved org Technology Tbk p.48 ×4
unresolved org Urusan Cess- Served p.50
unresolved org PT Intraport Teh Jaya p.50 ×2
unresolved org Menteri Koordinator Governor of Bank Indonesia p.50
unresolved org Koperasi Indonesia Bandung p.50 ×2
unresolved org Bank Indonesia Leadership School p.51
unresolved org Bank NA p.51 ×2
unresolved org PT Bank Danamon Indonesia Area p.51
unresolved org Senior Vice Tbk p.51
unresolved org PT Perdana Waralaba p.51 ×2
unresolved org PT Voksel Finance p.51
unresolved org PT Voksel Cable p.51
unresolved org PT Dana Usaha Makmur p.51 ×2
unresolved org PT Zimba Onix Mustik p.51
unresolved org PT Dana Pinjaman Inklusif p.51 ×8
unresolved org PT Data Opal Subsidiaries p.51
unresolved org Mulyamin Sensi Suryanto He p.52
unresolved org Mulyamin Sensi Suryanto p.52
unresolved org PT Simas Poin p.52
unresolved org Kementerian Keuangan He p.52
unresolved org Ministry of Republik Indonesia p.52
unresolved org Sertifikasi Manajemen Risiko p.52
unresolved — Concurrent Position Menjabat · Direktur p.52 ×2
unresolved org PT Dana Saham Bersama p.52 ×6
unresolved org PT Shinta Served · Director p.52
unresolved org PT Shinta Utama p.52 ×10
unresolved org PT Artha Bina p.52 ×6
unresolved org Purwantono p.53 ×2
unresolved org PT Swadharma Kerry Satya Financial Controller p.53
unresolved org PT Swadharma Kerry Satya p.53
unresolved org PT Aldiracita Sekuritas p.53 ×2
unresolved org PT Sinarmas Sekuritas Served · President Commissioner p.53
unresolved org PT PricewaterhouseCoopers Started p.54
unresolved org PT PricewaterhouseCoopers p.54
unresolved org PT GlaxoSmith p.54
unresolved org PT GlaxoSmith Kline Kline p.54
unresolved org PT Alodokter p.54 ×2
unresolved org PT Novartis p.54 ×2
unresolved org PT Data Opal Terpadu She p.54
unresolved person Establishment Akta Notaris Benny Kristianto p.58 ×4
unresolved org 60 yang telah disahkan · Nama Perusahaan p.58
unresolved org oleh Menteri Kehakiman Republik · Company Name p.58
unresolved org Minister of Justice p.58 ×3
unresolved org PT Internas Arta Leasing p.58 ×4
unresolved org Singapore Limited p.58
unresolved org PT Sinar Mas Cakrawala Indra Widjaja p.58
unresolved org PT Sinar Mas Cakrawala Masyarakat p.58
unresolved org PT Internas Arta Finance p.59 ×4
unresolved org Menteri Kehakiman Republik Indonesia p.59 ×2
unresolved org Pengadilan Negeri Jakarta Barat p.59
unresolved person Veronica Lily Dharma p.59 ×2
unresolved org West Jakarta District Court p.59
unresolved person Aulia Taufani p.59 ×2
unresolved org Menteri Hukum dan Hak Asasi Manusia p.59
unresolved org Minister of Law and Human Rights p.59
unresolved org Cedar Cedar Street Limited p.60
unresolved org Bank Umum Syariah p.60
unresolved org PT Bank Nano Syariah p.60 ×5
unresolved org PT Kreasi Retail p.60
unresolved org PT Kreasi Retail Nusantara. p.60 ×2
unresolved org PT Internas p.60 ×3
unresolved org PT Internas Arta p.60
unresolved org PT Arthamas Solusindo p.62 ×8
unresolved org PT Asuransi Sumit Oto. p.62 ×4
unresolved org Bapepam p.62 ×8
unresolved org Offering III. Tbk p.62
unresolved org Life Insurance Indonesia Tbk p.62 ×5
unresolved org Jiwa Sinarmas MSIG Tbk p.62 ×2
unresolved org PT Asuransi Jiwa Sinarmas p.62
unresolved org Asuransi Jiwa Sinarmas MSIG Tbk p.62 ×8
unresolved org PT Sinarmas Hana Finance p.63 ×6
unresolved org PT Asuransi Jiwa Mega Life p.63
unresolved org PT Asuransi Simas Jiwa p.63 ×10
unresolved org Global Asian Investment Limited p.63 ×4
unresolved org PT Summit Auto Group p.63 ×2
unresolved org PT Asuransi Jiwa Mega p.63
unresolved org PT Sinar Artha Konsulindo p.63 ×3
unresolved org PT Wapindo p.63
unresolved org PT Sinar Artha p.63
unresolved org PT Oriente Mas Sejahtera p.64 ×2
unresolved org PT Surya Mitra Sejati p.64 ×2
unresolved org PT Century p.64
unresolved org PT Asuransi Simas Net p.64 ×6
unresolved org PT Peduli Sehat Gotong Royong p.64 ×5
unresolved org PT SGMW Multifinance Indonesia p.64 ×6
unresolved org PT Century Tokyo Leasing Indonesia p.64
unresolved org PT Dana Pinjaman p.64 ×2
unresolved org PT Asuransi Simas Jiwa Syariah p.64 ×2
unresolved org PT Reasuransi Nusantara Makmur p.64 ×3
unresolved org PT Sinar Mitra Sepadan Finance Rp p.64
unresolved org Orix Corporation p.64 ×2
unresolved org PT MSIG Life Insurance p.64
unresolved org Indonesia Tbk p.64
unresolved org PT Reasuransi p.64
unresolved org PT Sinar Mitra Sepadan Finance p.64 ×3
unresolved org PT Century Tokyo Leasing p.65 ×2
unresolved org PT Bima Multi p.65
unresolved org PT Sinar Artha Trading p.65 ×4
unresolved org PT Kreasi Retail Nusantara. Rp p.65
unresolved org PT Peduli Rp p.65
unresolved org PT Digital Solusindo Nusantara. Pinjaman p.65
unresolved org PT Kreasi Retail Nusantara Loka Triprima p.65
unresolved org Bank Life Insurance p.68
unresolved org PT Simas Money Changer p.72 ×2
unresolved org PT Asuransi Simas Insurtech p.72 ×2
unresolved org PT KB Insurance Indonesia p.72 ×2
unresolved org PT Sinarmas Penjamin Kredit p.72
unresolved org PT Sinarmas Futures p.73 ×2
unresolved org PT Orientee Mas Sejahtera p.73
unresolved org PT Wapindo Jasa Farma p.73
unresolved org PT Arthamas Informatika p.73 ×2
unresolved org PT Balai Lelang Sinarmas p.73 ×2
unresolved org PT Sinar Artha Inforindo p.73 ×2
unresolved org PT Sinar Artha Solusindo p.73 ×2
unresolved org PT Autopro Utama Perkasa p.73 ×2
unresolved org PT Sinar Mas Ventura p.75 ×3
unresolved org PT Wapindo Jasa Artha p.75
unresolved org PT Techno Mandiri Utama p.75
unresolved org PT Techno Karya Utama p.75
unresolved org PT Toko Onderdil p.75
unresolved org PT Berkat Surya Mentari p.75
unresolved org PT Kebayoran Parama Propertindo p.75
unresolved org PT Citra Grahareksa Abadi p.75
unresolved org PT Bank Shinta Indonesia p.77 ×2
unresolved org Bank Shinta p.77 ×2
unresolved org PT Sinar Multiartha p.78
unresolved org Bank Garansi Time Deposit p.78
unresolved org Bank Garansi On Call Deposit p.78
unresolved org Reksa Dana Star Stable Income Fund p.79
unresolved org Reksa Dana Simas Pendapatan Optima p.79
unresolved org Reksa Dana Terproteksi Star Protected XVIII Business Banking Pinjaman p.79
unresolved person Rusmin · Commissioner p.80
unresolved person Frenky Tirtowijoyo · President Director p.80 ×4
unresolved org Bank Sinarmas Lavenue p.82
unresolved org Bank Sinarmas Conference. p.82 ×2
unresolved org PT POS Indonesia. Inauguration p.82
unresolved org Bank Sinarmas Unit Usaha Syariah p.83
unresolved org Bank Sinarmas Sharia Business p.83
unresolved org Bank Awards p.84 ×2
unresolved org Bank Financial Services Category p.84
unresolved org Bank Award p.85
unresolved org Bank Berpredikat p.85
unresolved org PT Asuransi Simas Jiwa Kantor Pusat p.87
unresolved org PT Asuransi Jiwa Mega Life. Setelah p.87
unresolved org PT Asuransi Jiwa Mega Life. After p.87
unresolved person Tengku Said Idris · Commissioner p.89
unresolved — Dewi Listyaningty · Direktur p.89
unresolved org Bank Matsuri Sinergi p.91
unresolved org Dana Pensiun Sejak Dini p.91
unresolved org PT Asuransi Simas Jiwa Unit Link Campuran p.93 ×2
unresolved org PT Asuransi Simas Jiwa Rupiah Mixed Unit Link p.93 ×2
unresolved org PT Asuransi Simas Jiwa Unit Link Pasar Uang p.93
unresolved org PT Asuransi Simas Jiwa Dollar Money Market p.93
unresolved org PT Asuransi Simas Jiwa Unit Link Saham p.94
unresolved org PT Asuransi Simas Jiwa Rupiah Share Unit Link p.94
unresolved org PT Asuransi Sinar Mas Kantor Pusat p.95
unresolved org PT Asuransi Kerugian Sinar Mas Dipta. Lebih p.95
unresolved org PT Asuransi Kerugian Sinar Mas Dipta. ASM p.95
unresolved org Bank Garansi p.97
unresolved org Mark Plus Inc p.100
unresolved org PT Sinar Menara Tekno p.103
unresolved person H. Fachruddin p.103
unresolved org PT Sinarmas Sekuritas Kantor Pusat p.105
unresolved org PT Sinarmas Sinar Mas Land Plaza p.105
unresolved org PT Sinarmas Ekagraha Money Changer p.105 ×3
unresolved org PT Sinarmas Ekagraha p.105 ×2
unresolved org PT Sinar Mas Sinar Mas Land Plaza p.110
unresolved org Bank BCA p.113 ×2
unresolved org Bank Mandiri. This p.113
unresolved org Bank Mandiri. Simas Reksa Dana Online p.113
unresolved — Hawanto Hartono · Direktur Utama p.120 ×2
unresolved person Herry Hermana S · Commissioner p.124
unresolved org Bank Sinarmas. Danamas p.127
unresolved org PT Sinar Mas Ventura Kantor Pusat p.129
unresolved org PT Sinar Mas Venture p.129
unresolved org Syariah Bank Sinarmas Tbk. p.133
unresolved person Iman Tjahya Abdulah · Commissioner p.136
unresolved person Johanes Chandra · Commissioner p.136
unresolved org Singapore Institusi Asing Limited p.143
unresolved org PT Sinar Mas Cakrawala Institusi Lokal p.143

Extraction attempts how the parser did, and what it refused

Nothing structured was extracted from this document — the attempts below say why.

No extraction attempted yet.

Other files in this announcement 2

↑↓ select ↵ open ⇧↵ see every result