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FAST-TRACKING WITH AGILITY, & RESILIENCE 2023 Integrated Annual Report
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Fast-Tracking with Agility, & Resilience
2018
Embracing Digitization
for Our Future
FAST-TRACKING
WITH AGILITY, &
2019
RESILIENCE
Driving Operational
Excellence for Sustainable
Growth and Returns
The pursuit of accelerating convergence proposition whilst
delivering stronger profitability was the main focus in 2023.
With the goal to be Indonesia’s leading converged operator,
XL Axiata fast tracked technology adoption, moving with
agility, and building resilience as the Company withstood
various challenges.
2020
Transform Faster to To that end, XL Axiata ensured that business strategies were
Emerge Stronger - Giving robust and cascaded to the lowest levels of the organization.
Back to the Nation
Backed by its excellent data analytics capability, XL Axiata’s
decisions were data driven, allowing every step taken
to be precise, effective, and efficient. The expansion of
convergence and fixed broadband products, XL Satu and
XL Home, were carried out in targeted potential areas to
ensure optimal growth, thereby able to satisfy the needs
of all consumer segments. XL Axiata also continued to
2021 strengthen its mobile services by providing personalized
Building the XL Axiata
of Tomorrow - Converged
customer experience and consistent connection quality.
Digital Telco Internally, XL Axiata continued its transformation to become
a converged organization.
These efforts brought prominent results for XL Axiata.
Double-digit growth was seen in revenue and EBITDA,
with ARPU at Rp43,000 (Q4-2023), and convergence
penetration of 75%. All of these goals were accomplished
2022 while strengthening XL Axiata’s responsibility to the
Win the Future community and environment. The Company actively
Through Championing supported women and youth empowerment as well as
Converged Solution
promoted environmentally friendly operation through
its green BTS initiative. Overall, XL Axiata was ready to
accelerate its growth by capitalizing on its advantages as a
pioneer in convergent services.
PT. XL Axiata Tbk | Integrated Annual Report 2023 1
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Fast-Tracking with Agility, & Resilience
ABOUT THIS TABLE OF CONTENTS
REPORT 1
2
Theme2023
About This Report
156 Board of Commissioners and Board of Directors’
Remuneration
4 Accelerating Driving Growth Through Converged 158 Board Audit Committee
Products, Services, Processes, & Organization 164 Nominating and Remuneration Committee
5 Financial Values 169 Board Risk and Compliance Committee
6 Intellectual Values 175 Transformation Advisory Committee
7 Brand Xl 178 Board of Directors
7 Brand Axis 202 Information Technology Committee
MATERIALITY OF REPORT
8 Brand Xl Satu 204 Risk Management and Business Continuity
XL Axiata has assessed the materiality of the 2023 8 Infrastructure Values Committee
IAR according to the reporting policies applicable 9 Human Capital Development Values 210 Human Capital Committee
in the Indonesian Stock Exchange. XL Axiata has 10 Sustainability Development Values 212 Gift, Donation and Sponsorship Committee
also inquired the input of stakeholders regarding 12 Continue Creating Value for Stakeholders 214 Ethics and Integrity Committee
business direction and perspective, including 216 Corporate Secretary
the risks identified using the risk management 14 ABOUT XL AXIATA 225 Investor Relations
framework. These risks may affect XL Axiata’s skills 227 Internal Audit
to create values in the short, medium, and long term. 16 Vision, Purpose & Corporate Values
230 Internal Control
This report also presents the Company’s strategic 18 Xl Axiata At a Glance
231 Risk Management
responses to the identified issues. 19 Business Activities
236 Litigations and Contingencies
20 Milestones
236 Administrative Sanctions
26 MANAGEMENT REPORT 236 Corporate Information Access
MANAGEMENT APPROVAL
237 Code of Ethics
The Board of Directors refers to IIRC’s International 28 Report of The Board of Commissioners
238 Employee and/or Management Stock Option
Integrated Reporting Framework for the 2023 IAR. 36 Report of The Board of Directors Programs
The Board of Directors is responsible to ensure the 48 Statement of Accountability of 2023 Annual 240 Whistleblowing System
Report By The Board of Commissioners and Board
integrity of this report through good corporate 241 Anti-Bribery and Anti Corruption Policy
2023 governance and internal reporting procedures.
of Directors
242 Corporate Governance Implementation
49 Macroeconomics, Industry & Business Strategy
FAST-TRACKING WITH Overview
254 SUSTAINABILITY REPORT
AGILITY, & RESILIENCE 52 Business Strategy
SCOPE AND BOUNDARIES 54 Sustainability Strategy 256 Sustainability Report
XL Axiata’s 2023 IAR discusses the Company’s 56 Marketing Aspect 260 Environmental Performance
financial and non-financial performance, business 59 Outlook 264 Economic Performance
INTRODUCTION challenges, opportunities, and risks that the 266 Social Performance
60 MANAGEMENT
The 2023 Integrated Annual Report (IAR) of PT XL stakeholders will find relevant and that significantly DISCUSSION 275 Governance Performance
Axiata Tbk (XL Axiata) is developed based on the affect our capability to create value. We limit our & ANALYSIS 276 Products and Customers Performance
International Integrated Reporting Framework from the report to the Company’s activities from 1 January
International Integrated Reporting Council (IIRC). IAR 2023 to 31 December 2023. 62 Financial Performance 282 CORPORATE DATA
is expected to provide the stakeholders with concise 66 Financial Highlights
68 Operational Highlights 284 Invitation For The Annual GMS
but comprehensive and accurate information about XL This IAR focuses on a number of areas, such as the
70 Shares Highlights 285 Corporate Information
Axiata’s business and strategies. The stakeholders will Company’s digital transformation, vision to become
71 Bonds & Sukuk Highlights 285 Company Branding
able to learn the journey of XL Axiata in creating and converged operator in Indonesia, dual-brand
72 Corporate Actions 286 Associations Memberships
sharing added values to the public. strategy strengthening, and continued network
72 Suspension/Delisting 288 2023 Event Highlights
development.
73 Financial Review 318 Awards 2023
ASSURANCE 90 Consumer 321 Certificates 2023
94 Home & Convergence 322 Shareholders Composition
The analysis and discussion on financial performance
98 Enterprise Business & Corporate Affairs 325 Chronology of Shares Listing & Other Shares Listing
presented in the XL Axiata’s 2023 IAR refers to the
104 Technology & Network Development 326 Organisational Structure
Financial Statements as at and for the years ended 31
108 IT & Digital Analytics 328 Corporate Structure
December 2023 and 31 December 2022 audited by
111 Human Capital Development 329 Subsidiaries, Associates and Joint Ventures
Public Accounting Firm Tanudiredja, Wibisana, Rintis
117 Training Data 330 Public Accountant & Public Accountant Firms
& Rekan (a member of the PricewaterhouseCoopers
118 Employee Demographics 331 Capital Market Supporting Institutions & Professions
networks of firms) with the opinion of fair in all material
332 Operational Map
respects. Financial statements and disclosures are
120 CORPORATE GOVERNANCE 334 XL Centers
presented according to Indonesian Financial Accounting
Standards. 339 Corporate Website Information
122 Corporate Governance
340 Disclaimer
129 General Meeting of Shareholders
138 Board of Commissioners 341 FINANCIAL STATEMENTS
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Fast-Tracking with Agility, & Resilience
ACCELERATING GROWTH THROUGH FINANCIAL VALUES
CONVERGED PRODUCTS, SERVICES,
PROCESSES, & ORGANIZATION
11%
Revenue growth
YoY to Rp32.34 trillion
Initiatives to drive market reparation coupled with consistent
Population growth and massive digitalization have led to continued increase network and service quality supported the 11% YoY revenue growth
in internet penetration in Indonesia. Not only a means of accessing contents to Rp32.34 trillion.
the Internet has also been contributing to growing productivity of businesses.
The need for ease of connectivity through a stable fixed broadband (FBB)
connection or practicality of fixed mobile convergence (FMC) is an opportunity
that XL Axiata is capturing.
Net profit for the year amounted to Rp 1.28 trillion, growing faster
than revenue at 15% YoY.
FBB and FMC enable stable internet connection
that can help the growth of more than 80%
of micro, small, and medium enterprises. They
currently rely on the internet to market goods
EBITDA grew 12% YoY to Rp15.89 trillion driven by cost excellence.
and services. XL Axiata is facing ample room for
growth, as FBB penetration today has reached
only 25.6% throughout Indonesia.
Indonesia’s infrastructure and economic Revenue from Data & Digital services reached Rp29.4 trillion or 91%
growth centers have begun to be more of total revenue.
distributed in various regions outside Java.
Projects such as new capital city development,
special economic zones, and international
tourism destinations will open up a wider
telecommunications market.
XL Axiata maintained sound financial position with gearing ratio
that reflected in gross debt to EBITDA of 2.89x.
Positioned as a convergence pioneer,
the presence of mobile service networks
throughout Indonesia, solid brand reputation,
and commitment to quality, XL Axiata will
be able to grow and create added value to
shareholders.
The Company has no USD denominated debt. 57% of of its loans
are fixed interest rates loan with only 43% with floating interest
rates. Free cash flows (FCF) were at a healthy level, increasing 69%
YoY to Rp8,72 trillion.
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Fast-Tracking with Agility, & Resilience
INTELLECTUAL VALUES BRAND XL BRAND AXIS
Data analytics capabilities have resulted in
strategic business decisions. These were
evident in, among others, the selection
of fixed mobile convergence and fixed
broadband service areas as well as the
design of XL and AXIS subscription
packages that are appropriate with
customers’ needs.
For XL Axiata’s salesforce,
Digitalization is the way digitalization has allowed
forward. XL Axiata has them to easily close
continued to digitalize transactions and create
the organization to make sales plans. For consumers,
business processes run digitalization has enhanced
more efficiently. their experience with
XL Axiata.
Human resources are the
More than half of XL Axiata
backbone of the Company.
customers are active users of
In today’s digital era, XL
myXL and AXISNet. Monthly
Axiata offers upskilling and
active users increased by 20%
reskilling opportunities to
year on year to 29 million
ensure that employees
subscribers.
can also grow and stay
relevant.
XL Postpaid: special offers for the latest AXIS Teng Go package, an innovative
smartphone pre-orders with myPRIO Deal, internet package purchased based on
the launch of co-branding credit cards, time of use with unlimited quota for the
e-SIM offers, and the launch of PRIO Club applicable duration and a pause-play
that rewards customer loyalty with various feature to adjust data usage.
Synergy and collaboration open up new benefits based on subscription packages.
National futsal championship AXIS Nation
opportunities. Together with Link Net, Cup 2023 was attended by 1,200 schools
XL Axiata is set to become a ServeCo, from 30 cities throughout Indonesia.
XL Prepaid: Star Series package offers access
collaborating with Link Net as a FiberCo. to lifestyle contents - beauty, music, gaming, AXISLABS 2023, idea competition for
Cooperation between the two entities will and culinary, while Xtra Combo Flex offers college students, participated by over
accelerate the penetration of Fixed Mobile double quota for a year, special offers for 2,000 students.
Independence Day and XL Axiata anniversary,
Convergence in Indonesia, supporting the and special internet quota for Hajj pilgrimage.
Talent competition AXISELEB 2023
garnered more than 4,000 entries.
Company’s vision.
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Fast-Tracking with Agility, & Resilience
BRAND XL SATU INFRASTRUCTURE HUMAN CAPITAL
VALUES
DEVELOPMENT VALUES
2,444 programs & 343 sessions,
2,358 unique participants,
and 11,189 training days
throughout 2023
Identified 13 key competencies for
employee development programs in
2023.
Provided continuous training to
employees. There were a total of
2,444 programs & 343 sessions,
Agile employees. 2,358 unique participants, and 11,189
XL Satu has grown and today covers all segments With capital expenditure of Rp7,16 training days in 2023.
of cellular services. trillion, XL Axiata carried out network Total employees:
development in various regions in 1,495
By providing a better digital experience, XL Satu’s Indonesia. The number of BTS towers
Net Promoter Score increased significantly. Nurtured an In hours, there were a total of 59,156
increased to exceed 160 thousand,
innovative culture in training hours or an average of 44.14
including 4G towers which grew 10% to training hours per person.
XL Satu proposition in 2023 was refined. Customer the organization.
more than 104 thousand BTS.
acquisition was boosted with a 75% increase
in convergence penetration among XL Home Site fiberization reached 61%.
customers.
With continued focus on areas outside
Streaming services strengthened through Java, XL Axiata’s 4G BTS in Kalimantan
grew 12% and traffic 21% YoY in 2023.
Yessie D.Yosetya, Director & Chief Enterprise
collaboration with Video, Vision+, CATCHPLAY,
LIONSGATE PLAY, WeTV, Nussa, and AirConsole. Business and Corporate Affairs Officer XL
XL Axiata showed its commitment by
Axiata became a recipient of the prestigious
attaining ISO27001:2013.
XL Satu Biz is growing, now offering packages CIO100 2023.
tailored for MSMEs and is increasingly trusted The green BTS initiative now covers 90%
among large enterprises. of XL Axiata’s BTS since the program
was launched in 2014.
Committed to achieve a significant increase in Chief of Corporate Affairs Marwan O. Baasir
homes passed through a partnership with Link Net. In total, XL Axiata has deployed 159 attained the Excellence in Performance
thousand kilometers of fiber optic award in Selular Awards 2023.
XL Satu recognized as Best Fixed Mobile network.
Convergence in the Selular Awards 2023.
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Fast-Tracking with Agility, & Resilience
SUSTAINABILITY SUSTAINABILITY
DEVELOPMENT VALUES
DEVELOPMENT VALUES
Sustainability programs – empowerment
Sisternet organized webinars with various topics
every month, e.g. public speaking, digital marketing,
packaging, career, health, photography, cooking class,
and beauty. Business incubation with Sispreneur and
Kompetisi Modal Pintar that was held for around one
year, offering advisory sessions and business capital
as program rewards.
Sustainability programs – environment
› Analysed power use and mapped tower profile
• Promoting social welfare through equitable access to information and using AI.
sustainable empowerment programs. › Targeted to reduce emission intensity to 125 kg
CO2/TB.
• Sustainability strategies founded on four pillars of Building Prosperity, › Explored renewable potentials with PLN and
Nurturing People, Process Excellence, and Planet and Society. independent power producers.
› Explored renewable potentials with PLN.
Awards
Sustainability programs – education
› Award as an advocate G20 Empower from
› The 10th XL Future Leaders (XLFL) Indonesia Ministry of Women Empowerment and
participated by 190 awardees, generating 16 Children Protection.
IOT-based projects.
› Sisternet program named as Best Mixed Media
› Digital literacy training for people with Campaign in the Entrepreneurship Theme in the
disabilities, titled XL Axiata Peduli Disabilitas Mata Lokal Award organized by Tribun Network.
held simultaneously in two cities with 60
› TOP GRC (Governance, Risk, and Compliance)
participants in total.
Awards 2023.
› Supported two special schools by donating
› Rated “Excellent” for XL Axiata’s successful
education funds, routers, and monthly 20GB
implementation of ESG and GRC approaches in its
quota for one year.
business operations.
› Brought IoT solutions to Islamic boarding
› Sisternet received Digital Nation Award 2023 in
schools under Pesantren Digital initiative.
Excellence in Innovation Video Award category
from M360 APAC.
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Fast-Tracking with Agility, & Resilience
CONTINUE CREATING CONTINUE CREATING
VALUE FOR STAKEHOLDERS
VALUE FOR
STAKEHOLDERS
COMMUNITY
CUSTOMERS › 4G services expanded to Alor Island, provided by 30 units of 4G
BTS, each capable of serving 400 customers simultaneously and
› 57.5 million mobile subscribers.
coverage radius of 2 kilometers. In the last two years, data traffic in
› 235 thousand customers of XL Home fixed broadband
connection. Alor Island increased 16%.
› Over 1,900 XL Satu Biz connections for SMEs.
› Supported cities to transform to smart cities through collaboration
› Blended ARPU at Rp43 thousand (Q4-2023)
› MyXL and AXISNet monthly active users grew almost 2x in the with city/district governments. XL Axiata provided high-speed
past two years internet services to Konawe Regency Government and IoT Flood
› Easy card reactivation and replacement as well as XL Prioritas Monitoring for DKI Jakarta Provincial Government.
registration at 100 XL Axis Service Points in 70 cities/regencies
throughout Indonesia
› XL Center attained Diamond Service Quality (SQ) Award in the
Cellular Telecommunication category at SQ Award 2023.
REGULATOR
› Supporting the availability of telecommunications infrastructure
throughout Indonesia.
INVESTOR
› Legal compliance, including with the requirement to establish an
› Net profit after tax stood at Rp1.28 trillion, growing 15% year
Occupational Safety and Health Management System (SMK3).
on year.
XL Axiata’s SMK3 won Bendera Ems award from the Ministry of
› Data and digital services accounted for 91% of revenue with a Manpower.
total value of Rp29.4 trillion.
› Actively involved, with all the telco service provider in Indonesia,
› Dividend payment at Rp42 per share allocated from 50% of
in conducting assessment to existing regulation to improve the
profits, endorsed at AGMS held on May 5, 2023.
telecommunication industry and service in Indonesia.
EMPLOYEES
ENVIRONMENT
› Implementation of Agile@Supercharged.
› Continuing the Green BTS initiative since 2014.
› Training programs relevant to the times.
› Committed to achieving net zero carbon by 2050.
› XLife employee application digitization with feature updates.
› The Best Company to Work For from HR Asia. › Joined Net Zero Hub initiated by KADIN as a knowlede-sharing
platform among members.
› Recognized as best Learning & Development and Knowledge
Management, HR Digitization and People Analytic, Employer › Continuing the inventory of Greenhouse Gases (GHG) for Scope 1
Branding, and Talent Acqusition in HR Excellence SWA Award. and 2, and adding inventory for Scope 3.
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ABOUT XL AXIATA Fast-Tracking with Agility, & Resilience
XL Axiata transforms
into a convergent digital
service provider that
integrates mobile and
fixed business in in a
new, better way. The
Company’s focus is on
enhancing customer
experience by offering
convenient and flexible
services, ultimately
achieving high Net
Promoter Score (NPS)
value.
ABOUT
XL AXIATA
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ABOUT XL AXIATA Fast-Tracking with Agility, & Resilience
VISION, PURPOSE
& CORPORATE VALUES PURPOSE
We bring the world closer in a simple way for a brighter life
› This promise cannot be done alone by ourselves
› Only through internal & external collaboration/togetherness, we can make this happen.
› We enable and empower people to stay in touch or connect with their environment and create new
possibilities.
› We are always close by to fulfill daily needs in people’s life.
› Life is getting more and more complex for people, and we are here to simplify it by providing seamless
experiences for all our stakeholders (The world at your fingertips).
› Simplifying adds value to people’s life by saving their time, energy and money, which allow them to
get more out of their life
VISION
› We are committed to help people to continuously improve their lives in terms of welfare (economically)
#1 Converged Operator and wellbeing (fun, excitement, energy, inspiration and unleashing people’s potential)
in Indonesia
Our vision is to become a CORE VALUES
converged digital service
provider, which can combine
mobile & fixed business/
services, in a new, better,
and customer-focused so
that customers can enjoy the
convenience and flexibility of Acronym for communication:
(read: I triple C)
our services and generate the
highest NPS value.
Uncompromising Integrity
› I only do the right things, align with the team and seek for advice if unclear.
VISION AND › I am courageous to make bold decision and speak up when needed.
PURPOSE REVIEW Obsession for Customers
› I am curious about my customers and genuinely care for them.
The Board of Directors regularly › I proactively take ownership to deliver beyond customers expectation.
reviews the Company’s Vision
and Objectives to ensure that Courage for Change
the Company’s Vision and › I think big and fearlessly step outside my comfort zone to take risks.
Purpose are still in line with the › I embrace mistakes to learn, adapt and improve.
Company’s current condition
and strategy. Passion for Collaboration
› I welcome ideas that are different from my own and learn from them.
› I am open and curious to explore possibilities to create synergies.
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ABOUT XL AXIATA Fast-Tracking with Agility, & Resilience
XL AXIATA BUSINESS
AT A GLANCE ACTIVITIES
In 2023, the Company Business Activities based 6. Information Services Activities;
on Article 3 of the Articles of Associations is to a. Data Processing Activities
carry out activities in the sectors of organizing b. Hosting and related activities;
telecommunications, programming activities and c. Web portals and/or digital platform
computer consulting, information services activities, without commercial objectivies;
wholesale trade, management consulting activities, d. Web portals and/or digital platforms
and financial activities. with commercial objectives.
7. Other management consulting activities.
In order to achieve abovementioned purpose, the
Initially starting business as a In 2009, TMI changed its XL Axiata operates its network Company may carry out the folllowing main business In order to achieve the above mentioned purposes,
trading and general services name to Axiata group Berhad on GSM 900/DCS 1800, IMT- activities: as well as to support the above mentioned main
company established on 6 (“Axiata”) which later in the 2000/3G, and is the first 1. Telecommunications business activities: business activities of the Company, the Company
October 1989 under the name of same year PT Excelcomindo telecommunications operator a. Administration of telecommunications may carry out supporting business activities as
PT Grahametropolitan Lestari. In Pratama Tbk. also changed its in Indonesia to commercially networks including but not limited to: following:
1996, the company entered the name to PT XL Axiata Tbk for launch 4.5G Ready on the 1,800 - Wired Telecommunication Activities; a. Planning, engineering, building, providing,
telecommunications field after synergy purpose. Currently, the MHz spectrum. XL Axiata also - Wireless Telecommunications Activities. developing and operating, leasing, maintaining
obtaining a GSM 900 operating majority of XL Axiata’s shares holds a content provider License, b. The operations of telecommunications as well as procuring means/facilities of
license and officially launching are owned by Axiata through Internet Services Provider services including but not limited to: telecommunication, including the procurement
its GSM services, becoming Axiata Investments (Indonesia) (ISP), Internet Interconnection - Internet Service Provider; of resources to support the businesses
the first private company in Sdn. Bhd. (66.25%), Treasury Services License, voice Over - Communication System Services (Data of the Company in the administration of
Indonesia to provide cellular Shares (0.43%) and public Internet protocol License, Communication System Services): telecommunication services and/or networks;
mobile telephony services. (33.32%). Therefore, XL Axiata Leased Line License. XL Axiata - Internet Telephony Services for Public b. Improving to the maximum extent, the relevant
is part of the Axiata group also received a Certificate of Use (VOIP); business for the administration of services
Later on, following a cooperation (“Group”), one of Asia’s largest Operational Eligibility (SKLO) - Internet Interconnection Services (IIS); and telecommunication networks, therefore,
agreement with the Rajawali telecommunications groups. to deploy a 5G network in - Content Provider Services through it reaches the capacity which is desired and
group and three foreign Indonesia in August 2018. Cellular Mobile Networks or Local fixed required by the public in the framework of
investors (NyNEX, AIF and The Group’s mobile subsidiaries Wirelesss Networks with Limited Mobility improving services to the public at large;
mitsui), the Company name was and associates operate under XL Axiata continues to ensure (Premium SMS Content Services). c. Carrying out businesses and operational activities
changed to PT Excelcomindo the brand name ‘CelcomDigi’ in top-notch quality of data - Other Multimedia Services (which also cover the marketing as well as the
Pratama. In September 2005, Malaysia, ‘Dialog’ in Sri Lanka, experience to its customers with sales of telecommunication networks and/or
the Company launched an Initial ‘Robi’ in Bangladesh, ‘Smart’ continued roll-out and upgrades 2. Other Monetary Intermediaries. services which are organized by the Company),
Public Offering (IPO) and listed in Cambodia, ‘Ncell’ in Nepal. of its network. XL Axiata is 3. Wholesale Trade; carrying out the maintainance, research, and
its shares on the Jakarta Stock As a leading market player in continuously committed to offer a. Wholesale Trade of computers and development, means and/or facilities of the
exchange now known as the Indonesia, XL Axiata provides faster and stable connection by computer equipment; telecommunication, organizing non-formal
Indonesia Stock Exchange (IDX). services for retail customers implementing 4.9G technologies b. Wholesale Trade of Software; education and training in telecommunication
At that time, the Company was and offers business solutions to – Massive MIMO, especially c. Wholesale Trade of Telecommunication sector both domestic and overseas;
a subsidiary of Indocel Holding corporate customers with wide catered to outside Java Island. Equipment. d. Organizing other telecommunication services
Sdn. Bhd., which is now known network and service coverage This technology accelerates 4. Programming activities, computer consulting, and networks including information technology
as Axiata Investment (Indonesia) throughout Indonesia. The data transfer to provide a more and related activities: services and/or networks; and
Sdn. Bhd., which all shares services include Data, Voice, convenience connection to a. Other computer programming activities. e. Organizing other activities which are considered
owned by TM International SMS and other value-added customers. 5. Computer consulting activities and computer necessary to support and/or which are related
Sdn. Bhd., (“TMI”) through TM digital services. facilities management: to the organizing of telecommunications,
International (L) Limited. a. Information Security Consulting Activities; programming activities and computer consulting
b. Computer Consulting Activities and Other activities, information service activities, wholesale
Computer Facility Management; trade activities, management consulting
c. Internet of Things (IoT) Consulting and activities, and financial activities.
Design Activities.
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ABOUT XL AXIATA Fast-Tracking with Agility, & Resilience
MILESTONES
MILESTONES
1996 2005 2012 2017
Received GSM 900 Cellular System license. Began Became a subsidiary of TM Group and made Initial 1. Expanded to 101,000 BTS, 63% of which were 3G
1. One of the Company’s majority shareholders, Etisalat,
its commercial operations, focusing mainly in Public Offering of 1,427,500,000 shares in the & 4G.
divested 9.1% of its shares through share offering to
Jakarta, Bandung, and Surabaya. Indonesian Stock Exchange (formerly Jakarta Stock 2. Expanded coverage of the 4G LTE network to 360
institutional investors. This resulted in an increased
Exchange) with stock code EXCL. cities/regencies, with over 17,000 4G BTS and
portion of public share ownership from 20.2% to
45,000 3G BTS.
33.5%.
3. Signed a Conditional Sales and Purchase
2. The Company operated over 11,000 new BTS.
Agreement to release ownership of the
1997 2006 Company’s shares in PT XL Planet (Elevenia) as
well as SK Planet Global Holdings Pte. Ltd. to PT
Built an integrated microcell network in Jakarta’s Jaya Kencana Mulia Lestari and Superb Premium
Launched 3G network service.
Golden Triangle Area. Pte. Ltd.
2013 4. Collaborated with the Ministry of
Telecommunications and Information in the
2007 Fishermen Go Online program through its Nelayan
1. The Company, Saudi Telecom Company (STC), Pintar (Smart Fishermen) app.
1998 and Teleglobal Investment B.V (Teleglobal) as 5. Participated in the construction of the Australia
1. Introduced Rp1/second tariff. STC’s subsidiary signed a Conditional Sales and - Indonesia - Singapore Submarine Cable
2. ETISALAT, the second largest Purchase Agreement CSPA) to acquire PT Axis
Launched proXL brand as the Company’s first Communication System that connected Australia
telecommunications company in the Middle Telekom Indonesia (AXIS).
prepaid product. with Singapore through Indonesia.
East, became a shareholder of XL Axiata. 2. The Company’s 4G technology had a test run at
3. XL Axiata started to consolidate brands under the APEC Summit.
“XL prepaid” and “XL postpaid”.
2018
2000
2008 2014
1. Started operating the Universal Service Obligation
Expanded reach to Sumatra and Batam. (USO) network in 40 locations in 4 provinces.
2. Launched the Laut Nusantara application, a
1. TM Group demerger resulted in 2 (two) separate 1. Acquisition of AXIS was finished in March, and collaboration between the Company and various
entities: Telekom Malaysia Berhad and Axiata merger was completed in April. ministries and organisations aimed to increase the
Group (formerly TM International Berhad). Axiata 2. The Company launched a test run of real mobile productivity and safety of Indonesian fishermen.
2001 Group is the parent company of Indocel Holding 4G-LTE (Long-term Evolution), supported by 3. Inaugurated the IoT Lab XCAMP along with the
Sdn. Bhd. Through its subsidiary, TM International Huawei and Ericsson. Minister of Telecommunications and Information
1. Received DCS 1800 Spectrum allocation and (L) Limited. 3. The Company changed its logo to reflect its new and the Minister of Industry.
finished construction of the main fibre optics 2. Axiata Group through Indocel Holding Sdn. Bhd. direction.
network. Acquired ownership of the Company’s shares
2. Launched M-Banking and M-Fun services from Khazanah Nasional Berhad, with total shares
at the end of the year of 83.8%.
2019
2015
1. Completed the construction of Australia
2002
2009 Launched LTE services on 1,800 MHz bandwidth. The - Indonesia – Singapore Submarine Cable
LTE services covered 35 cities in Indonesia. Communication System, along with Vocus Group
1. Received network allocation in Kalimantan and and Alcatel Submarine Networks.
Made the first Limited Public Offering for the issuance
Sulawesi. 2. Expanded to 130,000 BTS with over 40,000 of
of Rights Issue of 1,418,000,000 new shares.
2. Launched rental circuit and Internet Protocol them 4G.
(IP) services. 3. Singapore-based internet investor, developer, and
operator Princeton Digital Group (PDG) reached
2010 2016 an agreement to acquire 70% of the Company’s
Data Center portfolio.
The Company’s majority shareholder, Axiata 4. Commercially launched the Narrowband IoT (NB-
2004 Investments (Indonesia) Sdn. Bhd., released some of 1. Expanded to 84,000 BTS with 8,200 4G BTS IoT) in 31 cities/ regencies in Indonesia.
its shares (in the value of 20% of all issued shares) covering almost 100 cities in Indonesia. 5. Expanded its USO network to cover 298 areas in
in the Company through Private Placement in order 2. The Company completed its public offering of various provinces across Indonesia.
Rebranded logo and changed the proXL brand with
to increase the number of the Company’s shares USD 500 million, all of which was fully subscribed 6. Additional 3 USO BTS in remote areas of Natuna
new products such as Jempol (prepaid), Bebas
owned by the public. by shareholders. in Riau Islands, Musi Rawas in South Sumatra, and
(prepaid), and Xplor (postpaid).
the West Coast of Lampung.
20 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 21
Page 13
ABOUT XL AXIATA Fast-Tracking with Agility, & Resilience
MILESTONES MILESTONES
2020 2022
1. XL Axiata took over the shares of PT
1. Announced share buyback program of IDR 500 3. Became the first telecommunications company in
Hipernet Indodata, a company engage in
billion in IDX for three months, from 7 April 2020 Southeast Asia to use SAP S/4 HANA Cloud.
telecommunications and information technology
to 6 July 2020. 4. Supported various ministries and departments in the managed services provider. XL Axiata officially
2. Collaborated with Google Cloud on diverting its government through the COVID-19 pandemic with owns 2,805 shares or equivalent to 51% of
workload to Cloud and adopting modern application donations and initiatives aimed to help Indonesians Hipernet Indodata’s shares with a transaction
management platform from Anthos-Google Cloud cope with the new normal. value of around Rp358,438 billion.
to automate, scale, and manage workload in its 5. Supported government program to deliver 4G 2. XL Axiata and Malaysian company PP
hybrid multi-cloud securely and consistently. services which cover 861 villages Non-3T within Telecomunication Sdn Bhd have successfully
2021-2022. completed the construction project of the Sea
Cable Communication System (SKKL) connecting
Batam - Serawak Malaysia or Batam Sarawak
International Cable System (BaSIC).
3. Axiata Group Berhad and XL Axiata completed a
joint acquisition of 66.03% of PT Link Net Tbk’s
shares for approximately RM2.63 billion. Post-
2021
acquisition, XL Axiata holds 20% ownership of
Link Net shares.
4. The Echo Submarine Cable Communication
1. Through XL Business Solutions managed to receive 11. The Company implemented Zero Touch Operation System (SKKL) “Golden Buoy” is docked in
ISO 9001:2015 and ISO/IEC 20000- 1:2018, the platform including Network Operation Centre (NOC) Tanjung Pakis, Karawang Regency, West Java to
international standards for implementation of operation to accelerate detection against network be further connected to XL Axiata’s network. The
quality management and information technology disruption and its impact on customers. docking of the Golden Buoy is part of XL Axiata’s
services management. 12. The Company in collaboration with various business commitment to continue to provide better
2. Collaborated with Helios Data, a data security and social partners held a drive thru vaccination network quality and services for customers and
technology company from California, USA in order centre for people in Depok, West Java called the Indonesian with the addition and availability of
to implement Secure Data Sharing technology. Indonesia Bangkit Vaccination Centre in the fibre optic network infrastructure that connects
3. Began operating BTS built through the Universal Universitas Indonesia Hospital parking structure. to the global network.
Service Obligation (USO) scheme, in collaboration 13. The President of Indonesia Joko Widodo surveyed 5. XL Axiata exercised public offering plans for XL
with the Telecommunication and Information the vaccination at the Indonesia Bangkit vaccination Axiata Shelf Offering Bonds II Phase I of 2022 and
Accessibility Agency (BAKTI) in a number of centre in Depok, assisted by the Minister of Health Budi Shelf Offering Sukuk Ijarah III Phase I of 2022, in
provinces, among which is South Sumatra, Gunadi Sadikin, Governor of West Java Ridwan Kamil, which XL Axiata offers each of Rp1.5 trillion for
specifically in Musi Rawas and North Musi Rawas rector of Universitas Indonesia Prof. Ari Kuncoro, S.E., Bonds and Sukuk.
regencies. M.A., Ph.D and hospital director dr. Astuti Giantini. 6. XL Axiata held an Extraordinary General Meeting
of Shareholders (EGMS) to seek approval for the
4. Collaborated with FiberStar, a fibre optic provider 14. The Company continued its vaccination centre
plan to increase capital through a Limited Public
company, to expand XL HOME fiber network. program in Medan, North Sumatra at Central General
Offering III (LPO III) by granting Pre-emptive
5. Collaborated with NTT Ltd. in building private Hospital (RSUP)l H Adam Malik.
Rights.
cloud-based IT infrastructure to help prepare the 15. The Company is committed to implement ESG 7. Link Net and XL Axiata synergize to launch internet
5G ecosystem. (environmental, social, and governance) principles convergence services through collaboration
6. Launched XL SATU, the first convergence service in by referring to GSMA targets and lowering carbon products of First Media and XL. This collaboration
Indonesia from XL HOME and XL Prepaid. emission to 0 in 2050 (net zero emission by 2050). combines high-speed internet services without
16. The Company launched Desa Digital Nusantara (DDN) quota restrictions, streaming content, cable TV
7. Expanded 4G network to 2,431 remote villages in
to empower villages through digital technology and online storage of First Media with the XL
Lampung province.
adoption that was launched in Tanjung Pakis Village Joint Quota Package, which is large-scale internet
8. Through XL Business Solutions (Busol), managed to data services.
in Karawang Regency.
receive MEF-CE 3.0 International Certification. 8. XL Axiata actively participated in the Women20
17. President Director & CEO of the Company Dian
9. Expanded 4G network in Aceh to cover 193 districts Movement (W20) and G20 EMPOWER and
Siswarini along with Chief Strategic Transformation
and 5,102 villages. marked by the election of XL Axiata President
& IT Officer yessie Dianty yosetya, as chair of G20
10. The Indonesian Ministry of Communication and Director & CEO, Dian Siswarini as Co- Chair of
Empower attended the inauguration of Indonesian
Informatics (Kominfo) declared the Company Women20 Indonesia and Director & Chief of
G20 presidency.
has passed the Operation Feasibility Test for 5G Digital Transformation & Enterprise Business
18. The Company’s VoLTE has reached 403 cities and Officer, Yessie D. yosetya as Chair of G20
network in Indonesia.
regencies in Indonesia. Empower.
22 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 23
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ABOUT XL AXIATA Fast-Tracking with Agility, & Resilience
MILESTONES MILESTONES
2023
› XL Axiata continues to develop SD-WAN+ › XL Axiata continues to strengthen its position as › XL Axiata and Hypernet launch Open WiFi and
› XL Axiata successfully completed the Capital solutions for corporate customers. SD-WAN the first operator to introduce convergence services Managed WiFi. Following the launch of the XL
Increase process by granting Pre-emptive Rights III solution is an excellent solution to be implemented through XL SATU products. To maximise services, SATU BIZ service, XL Axiata Business Solutions
(“PMHMETD III”) or right issue on time and at the in the company. Ease of deployment, centralized XL SATU now adopts Fiber To The Room (FTTR) reintroduced the latest innovations from this
same time raising funds of Rp5 trillion. management, device simplification, and cost technology, which will be introduced soon and will be service, namely Open WiFi and Managed Service
efficiency, make SD-WAN+ an attractive and viable available to customers to boost the convenience of WiFi. This feature is designed to make it easier for
› Intensively applying ESG principles to network option especially for today and going forward for surfing at home. Furthermore, the coverage of service industry movers, particularly SMEs, to develop their
infrastructure, XL Axiata uses Green BTS en masse. many businesses in the global marketplace. areas continues to expand, and is now present in 63 businesses.
In applying ESG principles to BTS devices, XL Axiata cities and regencies of the city, with Batam being the
has modernized by implementing, among others, newest area.
› XL Axiata launch “XL SATU BIZ”, a fast internet › XL Axiata with Indosat Ooredoo Hutchison (Indosat
Green BTS which includes the Intelligent Ventilation access for SMEs. XL SATU BIZ provides or IOH), Axiata Digital Labs (ADL), and Amazon Web
Cooling System (IVS), the use of DC fans, and Air advantages such as high-speed Wi-Fi internet › XL Axiata and Nokia Indonesia collaborate on ESG Services (AWS) proudly introduce the SinergiAPI
Conditioning (AC). The application of Green BTS connection, a large quota that may be distributed practices. XL Axiata continues to strive to implement Portal, the first API portal in Indonesia based upon
is able to significantly reduce energy consumption to a large number of employees, and a free ESG principles by supporting Indonesia’s target of GSMA’s Open Gateway initiative which aims to
by up to 50%. The modernization of BTS devices Majoo subscription. SME managers can gain reducing carbon emissions by 43.2% by 2030, and empower developers and enterprises by offering
has been implemented since 2014. Currently, this additional benefits to boost business efficiency in the company’s operational scope reducing carbon universal access to network operator APIs.
modernization program has covered more than and productivity by utilising the XL SATU BIZ emissions by 45% from the 2020 baseline in 2030.
90% of XL Axiata’s BTS. package, which includes ERP software for SMEs
› XL Axiata had completely delivered the 4G service
with comprehensive features.
› XL Axiata ensures network availability along the on 861 the most outer, under developed and frontier
› XL Axiata and Cisco collaborate to prepare 5G and Jakarta-Bandung high-speed rail line. XL Axiata border of Indonesia, as obliged by Indonesian
Cloud networks for IoT. Through this collaboration, › XL Axiata strengthens fast internet infrastructure continues to improve network quality in response government.
XL Axiata’s network capabilities will be enhanced by at IKN. In June 2023, XL Axiata has placed 4 to the increased proximity of high-speed train
using end-to-end automation and optical networks units of Mobile BTS 4G, which are placed in the operations. Customer comfort along the railway
to support companies in transforming existing › XL Axiata succeeded in winning the SMK3 Gold
construction project area of the Presidential line is the company’s priority. Moreover, the fast
networks into 5G-ready, while also strengthening Flag (Occupational Safety and Health Management
Palace, Vice Presidential Palace, and around train is predicted to be a means of supporting
Internet of Things (IoT) connectivity services. System) from the Ministry of Manpower (Kemenaker)
the workers’ mess. The XL Axiata network at people’s mobility, which of course also requires the
of the Republic of Indonesia. Director & Chief
IKN will later be connected to the main network convenience of data access while on the train.
Technology Officer of XL Axiata as well as Chairman
› XL Axiata officially launches e-SIM. Customers that throughout Kalimantan, which is also connected
of the XL Axiata Occupational Safety and Health
utilise e-SIM do not need to use a real SIM card to the international network which is currently
› XL Axiata’s 4G signal is now available along the (P2K3) Advisory Committee, I Gede Darmayusa
in their smartphone. Customers can also avoid connected via SKKL Batam - Sarawak - Entikong.
Jakarta MRT line. XL Axiata has expanded its 4G LTE received the award in Jakarta.
purchasing a physical SIM card at the store by using network on all underground lines of the Jakarta MRT,
an e-SIM. Furthermore, using an e-SIM is a more › XL Axiata and Link Net strengthen synergy by both along the line and all stations since mid-August
straightforward process than making purchases at a › Axiata Group Berhad (“Axiata” or “the Group”)
collaborating to build 1 million of homes passed 2023. Monitoring of the increase in traffic that occurs
store. Using a QR code, xl.co.id starter packs may be announced that it is driving forward the structural
networks. The construction of the 1 million homes will also continue to be carried out along the Jakarta
instantly registered and activated from anywhere. transformation of its Indonesian subsidiaries, XL
passed network is targeted to take place in one MRT line, including continuing to improve network
Axiata and Link Net, to accelerate the strategic shift
year in more than 10 cities/regencies in several quality to ensure customer needs are met.
towards becoming a ServeCo and a FibreCo.
› Axiata Group strengthens XL Axiata and Link Net provinces, including outside Java. The 1 million
synergy. The closer collaboration between XL Axiata homes passed network is a new network, not
› XL Axiata presents green mining solutions with
and Link Net will be able to increase the penetration including the existing Link Net’s network. › XL Axiata, Indosat Ooredoo Hutchison (Indosat or
private networks, environmentally friendly solutions
of convergence services in Indonesia, because IOH), Axiata Digital Labs (ADL), and Amazon Web
for the mining industry. Private Network is a solution
over the next five years there will be an expansion Services (AWS) proudly introduce the SinergiAPI
› Supporting the convenience of public mobility, that strongly supports “green mining” operations. This
of service coverage to 8 million home passes. In Portal, the first API portal in Indonesia based upon
XL Axiata’s 4G signal is available on all LRT lines. solution is able to increase efficiency by supporting
addition, XL Axiata is also determined to increase GSMA’s Open Gateway initiative which aims to
All LRT lines including all stations, both those increased productivity through automation, reduce
its convergence customer base, while accelerating empower developers and enterprises by offering
across Cibubur and across Bekasi, have all been costs by implementing fleet management with IoT
the achievement of XL Axiata’s vision as the leading universal access to network operator APIs. GSMA
served by XL Axiata’s 4G network. Currently, technology, and indirectly able to increase employee
convergence operator in Indonesia. XL Axiata will Open Gateway APIs are defined, developed, and
both LRT routes have been served by more than safety against potential work accidents as employees
capitalize on FBB’s market opportunities which published in CAMARA, the open-source project
2,300 4G BTS. do not need to go to hazardous areas.
penetration remains low and the trend of market driven by the Linux Foundation.
demand continues to strengthen.
24 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 25
Page 15
MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
Positioned as a
convergence pioneer,
the presence of
mobile service
networks throughout
Indonesia, solid
brand reputation,
and commitment to
quality, XL Axiata
is able to grow and
create added value to
shareholders.
MANAGEMENT
REPORT
26 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 27
Page 16
MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD
REPORT OF THE BOARD OF COMMISSIONERS
OF COMMISSIONERS
The Company achieved outstanding
results on all fronts by executing
accurate strategies with a strong
sense of discipline, achieving robust growth
and improved profitability, as demonstrated
by its financial and operational performance
indicators. It is evident that XL Axiata is well-
positioned to continue pursuing expansive
convergence and promoting business
sustainability.
DEAR DISTINGUISHED PERFORMANCE OF THE
SHAREHOLDERS AND BOARD OF DIRECTORS
STAKEHOLDERS,
In the midst of global economic
We are pleased to report that XL moderation, the Indonesian
Axiata had another successful economy achieved a growth of
year marked by both financial 5.05% for 2023, showing resilience
and operational growth. As though still presenting challenges
outlined in this report, the as compared 2022. The OECD
Company strengthened its expected the global economy to
presence, network quality, and remain moderate with projected
capability. Overall, XL Axiata growth of 2.9% in 2023, as
made substantial progress challenges of inflation and low
towards becoming a truly growth prospects persisted. This
converged operator in products, also presented a challenge for
services, and organization. the telco industry in navigating
its aim to further penetrate
The Board of Commissioners, in its the digital economy. Indonesia
capacity to supervise and advise therefore has maintained a
the Board of Directors, saw that consistent growth level in the
those results were achieved in last two years, including in the
compliance with business ethics, face of worsening climate crisis
industry best practices, laws and which threatened harvest and
regulations. We trust that this potentially triggered disaster risks
adherence contributed to the as well as geopolitical conflicts, a
Company’s sound reputation situation that set a backdrop for
as one of Indonesia’s leading XL Axiata’s journey in 2023.
DR. MUHAMAD CHATIB BASRI telecommunications operators.
PRESIDENT COMMISSIONER
28 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 29
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD OF COMMISSIONERS REPORT OF THE BOARD OF COMMISSIONERS
By sector, manufacturing, policy, coupled with strong to the last layer in XL Axiata and attractive propositions tailored Rp1.28 trillion, outpacing revenue XL Axiata’s excellence was
trade, and agriculture remained collaborative effort between the that decisions are made in the to the needs of customers that reached Rp32.34 trillion recognised by many. In 2023,
the top three contributors at central bank and government best interest of the company in respective segments. The with data and digital services the Company was named
18.67%, 12.94%, and 12.53%, both in the central and at regional and its stakeholders. Frequent succeess of this strategy contributing 91%. The Company The Best SPEx2 (Strategy-
respectively. The information levels. monitoring on target checkpoints was reflected among others also succeeded in sustaining into-Performance Execution
and communications sector allowed the Company to be very in combined ARPU of Rp43 quality customers, which was Excellence) Company in
contributed 4.23% to GDP. The Industry trend in Indonesia nimble in identifying problems thousand (Q4-2023), up from reflected in increased blended Telecommunication Industry in
information and communications followed the same path. A Google and solutions. XL Axiata also Rp40 thousand (Q4-2022). XL ARPU to Rp43 thousand in Q4- SPEx2 Award 2023. Moreover,
sector grew at 7.59%, thanks survey revealed Indonesia as the optimised its data analytics Axiata’s own digital channels, 2023. Director & Chief Digital
among others to increase in BTS fourth largest mobile phone users capability, which made decision namely myXL and AXISnet, now Transformation and Business
units and internet penetration after China, India, and the United making accurate and data-driven. have digitally engaged 29 million Gearing ratio was healthy, Enterprise Officer Yessie D.
rate. We saw strong development States with 354 million gadgets This approach backed XL Axiata’s subscribers. The Company’s total with Gross Debt to EBITDA at Yosetya was again recognised
in the industry in line with nation’s connected to the internet. Internet convergence journey in 2023. of over 160 thousand BTS serve 2.89x. Cashflow also improved as the Most Influential CIO
technological advancement penetration in the country To become a true converged customers across Indonesia, significantly, allowing the Company 2023 in iCIO Awards 2023,
and digital transformation. This increased from year to year, as operator, the Company as XL Axiata is committed to to fund its investments from cash while Chief Corporate Affairs
was supported by the growing reported by APJII. transformed its operations and open access to mobile and from operations. The Company’s Marwan O. Baasir was honoured
demand in mobile and fixed data operating model. XL Axiata internet connectivity to millions CAPEX spending was optimal and as Excellence in Performance
services, on top of a positive As the numbers indicated, the also continued transformation of Indonesians. With quality calculated. By sweating its current in Selular Award 2023. XL
price rationalization trajectory telecommunication business initiatives, such as unifying and network, traffic grew by 21% from assets, the Company was able Axiata’s accomplishments
throughout the year, bolstering landscape continued to be digitising sales force to support 2022 to 2023. to manage lower level of CAPEX clearly signalled the Company’s
the overall positive industry highly promising, especially as convergence and optimise sales spend compared to the previous excellence as an innovative and
growth. technological advancements have productivity as well as enhancing Driven by its strategies, in 2023 XL year. Moreover, the Company agile business entity.
made businesses more agile and network operations with artificial Axiata reached 75% convergence reported robust loan structure
Indonesia’s robustness was also efficient. XL Axiata has certainly intelligence and machine learning. penetration from 37% in the with 57% borrowings having fixed In the opinion of the Board of
the result of Bank Indonesia’s benefitted from new technologies The Company’s revamped previous year and reported interest rate and without forex Commissioners, the Board of
policies. In October 2023, and has been quick to adopt the IT architecture now provides 235 thousand home connect borrowings, thereby protected Directors achieved exceptional
Bank Indonesia raised BI 7-Day latest systems in digitalization, 360-degree of customer view, by aggressively capturing from currency risk. This signals the outcomes as a result of
Reverse Repo Rate (BI7DRR) AI, and machine learning that enabling more effective and opportunities in FBB segment. Company is on the right path to implementing accurate and
from 5.75% to 6.00% to protect would increase its competitive targeted upselling/cross-selling For MSMEs, XL Axiata has elevate shareholder value going effective strategies coupled with
currency stability against global edge. This was crucial, as market campaign. launched XL Satu Biz to increase forward. rigorous discipline to execute
uncertainties and to keep competition heightened. business productivity, while large those strategies.
inflation rate under control. Recognising the importance corporations benefitted from the As a responsible business
This was complemented with Even on the backdrop of of collaboration, XL Axiata Company’s connectivity and ICT entity, XL Axiata’s economic FREQUENCY AND
fiscal policies that aimed to challenging macroeconomic strengthened its synergy with solutions. pursuit went hand in hand
ADVISORY METHOD
boost economic growth, such conditions in Indonesia, XL Axiata affiliates, LinkNet and Hypernet. with environmental and social
endeavours. The Company’s
TO THE BOARD OF
as increased government managed to strongly steer through With LinkNet, the Company Increased competition in the fixed
spending. As the results, National various challenges in the macro accelerated fixed broadband broadband and convergence Green BTS initiative reached 90% DIRECTORS
Statistics Agency (BPS) reported space and within the industry (FBB) and fixed-mobile space did not impede the ability to coverage with up to 50% energy
Indonesia’s inflation rate in 2023 to achieve profitable growth. convergence (FMC) penetration grow and tap the underpenetrated saving rate in 2023 since first The Board of Commissioners is
was 2.61%, the lowest in the past Through a balance of pricing and made a significant structural broadband market. As shown launched in 2014. This initiative always supportive of the Board of
two decades. Meanwhile, Rupiah strategy and smart investments move towards delayering by through the achievements of XL encompassed the application Directors, including through our
to US Dollar exchange rate as supported by advanced data entering into a non-binding Home and XL Satu roll out, the of outdoorization, PLN-ization, advisory role as prescribed in our
per end of December 2023 analytics, the Company achieved agreement. With Hypernet, the Company is very much on track to intelligent energy saving, and scope of duties and according
gained point-to-point 1.11% yoy commendable financial and Company accelerated joint go-to achieving its ambitions to speed equipment modernization such to the recommendations of the
compared to last year. Rupiah operational metrics in 2023. market in the ICT segment. up the growth in FBB and FMC. as RAN radio and rectifier. committees under the Board
appreciation was stronger than XL Axiata’s commitment to of Commissioners. We advise
neighbouring countries, such The Company has devised At the same time of driving Financially, XL Axiata succeeded empowering women and youth the Board of Directors regularly
as Thiland and the Philippines, business strategies to navigate convergence, the Company in achieving robust growth. leaders also continued through its through official and informal
whose currencies strengthened the market. The Board of managed to maintain excellent Profitability improved with engagament in Women 20 (W20) communication as set out in
by 0.76% and 0.62% yoy, Commissioners appreciated the service level in the mobile EBITDA margin up to 49,1%, in the G20 Summit, programs Board Manual. Formal advisory
respectively. Controlled inflation Board of Directors approach in segment. The XL, pre-paid and which reflected operational cost such as Sispreneur that targets is carried out through Board of
and exchange rates were the real strategy planning that ensured all post-paid under XL Prioritas,and excellence. Normalised net profit women in MSMEs, and XL Future Commissioners’ meeting and our
outcome of a sound monetary plans and targets were cascaded AXIS brands were strong, offering also improved by 15% yoy to Leaders (XLFL). joint meeting with the Board of
30 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 31
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD OF COMMISSIONERS REPORT OF THE BOARD OF COMMISSIONERS
Directors. In 2023, we held 11 networks, new technology, capture on the increasing demand XL Axiata’s GCG practices were widely appreciated. Mr. Dean’s resignation was accepted and formally
(eleven) Board of Commissioners’ and digital connectivity will be for mobile data and broadband XL Axiata became one of the recipients of the TOP endorsed in the Extraordinary Shareholders’ Meeting
meetings and 7 (seven) joint instrumental in expanding access services supported by improved GRC (Governance, Risk and Compliance) Award on 11 January 2024. We thank Mr. Dean for his
meetings. Additionally, informal to internet services and bridging network capabilities, which aligns 2023 for the its ESG and GRC implementation invaluable contributions during his tenure and wish
advisory was carried out through the digital divide across the with the Company’s strength of and the 14th IICD Award in 2023 for the 50 Big him continued success in the future.
emails and telephone, to provide archipelago. being the Leading Converged Capitalization Public Listed Company and Best Role
input for the Board of Directors Operator in Indonesia. XL Axiata is of Stakeholders categories. Subsequent to Mr. Deans’ resignation, the
to consider in official decision Telecommunication as an industry well appreciated for its innovative composition of XL Axiata’s Board of Commissioners
making forums. sector will remain attractive, culture to adapt to the evolving VIEW ON WHISTLEBLOWING SYSTEM is as folllows:
as opportunities are still ample needs of consumers in this IMPLEMENTATION
BUSINESS OUTLOOK especially in regions outside Java. digital era. With this, we strongly President Commissioner : Dr. Muhamad Chatib Basri
Indonesia’s growing population believe in XL Axiata’s ability to As part of maintaining compliance, the Company Commissioner : Vivek Sood
2024 will remain a challenging will also mean that demand for remain as a strong competitor ensures that every breach is identified and followed Commissioner : Dr. Hans Wijayasuriya
year, where the weakening internet and mobile services in the Indonesia telco industry, up by establishing SPEAK UP, a whistleblowing Independent Commissioner : Muliadi Rahardja
of global economy is seen to continue rising. exploring more opportunities to system equipped with safeguards to protect the Independent Commissioner : Yasmin Stamboel Wirjawan
persist, as IMF predicts the global serve customers better and to confidentiality of the whistleblower. The Board Independent Commissioner : Julianto Sidarto
economy will see a growth In the mobile segment, industry meet various household needs. of Commissioners is involved in a report follow-
of around 3.1%. However, the players can anticipate the up where there is reasonable possibility that the
Indonesian Ministry of Finance expansion of 5G network, which VIEWS ON GOOD breach constitutes a criminal offense. In 2023, APPRECIATION
sees Indonesia can achieve a will become a new revenue stream CORPORATE our data show that there was a total of 3 (three)
GDP growth of 5.2% in 2024, held and driver of ARPU growth. Data GOVERNANCE reports. Of that number 2 (two) were confirmed Finally, the Board of Commissioners wishes to convey
up by stable inflation, election traffic is expected to continue as violations. Our team resolved 2 (two) cases, gratitude to the shareholders and Axiata Group
PRACTICES
spending and further policies in growing in years to come, driven while the investigation of 1 (one) report is not for their close synergy and trust. We would like to
the housing sector. In terms of by the growing consumption from substantiated. express our appreciation to the Board of Directors
interest rate, Bank Indonesia may content, gaming, and increasing The Board of Commissioners for their astute leadership as well as all employees
maintain 6.00% BI7DRR until mid smartphone adoption. We also views that the Company CHANGES IN THE COMPOSITION OF for their dedication and hard work. We also highly
2024. notice a huge opportunity in implemented Good Corporate THE BOARD OF COMMISSIONERS appreciate XL Axiata’s customers, regulators, and
FMC. FMC share of total FBB Governance (GCG) throughout stakeholders at large. The support from these
This confidence in the connections is expected to 2023. XL Axiata has consistently On 25 September 2023, XL Axiata Commissioner entities is integral to XL Axiata’s growth and journey
Indonesian economy signals continue growing globally and implemented the principles of David Robert Dean submitted his resignation letter. to become Indonesia’s leading converged operator.
a positive impact to the regionally. GCG to support its business
telecommunications Industry. development.
We see room for further price Aside from the positive sentiment,
rationalization as the trajectory the Board of Commissioners The Company continued GCG
from 2023 remains positive and recognise several things to digitalization initiatives that
price surveys suggest that telco anticipate in 2024. In the industry, began in 2019. In 2023, the
operators are at a good pace FMC competition will be fiercer, initiatives that the Company
to increase the industry share as more operators are joining, carried out included the
within the Indonesian economy. while fibre players will invest registration system for all Jakarta, 4 April 2024
more aggressively in the FBB the Company’s documents, On behalf of the Board of Commissioners
The Indonesian Government has segment. The Board also expects continuing the implementation of
also released the Digital Indonesia the Company to continue e-Board Meeting Management,
Vision 2045, to prioritize the investing in network expansion and the implementation of e-GMS
realization of Indonesia’s inclusive, and strengthening in a prudent using the eASY.KSEI system has
empowering, and sustainable manner, focusing on driving made decision making more
digital transformation. This will stronger profitability and return. efficient and effective. XL Axiata
place the telecommunication has also consistently maintained
DR. MUHAMAD CHATIB BASRI
industry in the epicentrum of Overall, we are confident that compliance with laws and PRESIDENT COMMISSIONER
this priority, where it is poised the Company will be able to take regulations. With this level of
to play a crucial role in enabling appropriate measures to retain compliance, the Company was
the digital infrastructure required its market position. With the not subjected to any kinds of
for a thriving digital economy. emphasis on digital infrastructure legal penalty in 2023.
Investments in broadband and connectivity, XL Axiata can
32 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 33
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
THE BOARD OF
THE BOARD OF COMMISSIONERS
COMMISSIONERS
DR. MUHAMAD MULIADI RAHARDJA JULIANTO SIDARTO YASMIN STAMBOEL VIVEK SOOD DR. HANS
CHATIB BASRI INDEPENDENT COMMISSIONER INDEPENDENT COMMISSIONER WIRJAWAN COMMISSIONER WIJAYASURIYA
PRESIDENT COMMISSIONER INDEPENDENT COMMISSIONER COMMISSIONER
34 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 35
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD
REPORT OF THE BOARD OF DIRECTORS
OF DIRECTORS
We continued our convergence journey,
committed to advancing technology
adoption and providing unparalleled
services to our subscribers. Despite challenges,
the Company remains resilient and agile as we
seek to accelerate a new journey and beyond.
We navigated the complexity of the ever-
changing telecommunications landscape by
focusing on innovation and customer-centric
approaches, fulfilling our customers’ expanding
needs. We are speeding up to take the lead,
as exemplified by pioneering in Fixed Mobile
Convergence services.
MACRO OVERVIEW gross fixed capital formation
(PMTB) that rose by 4.40% yoy.
Global economic growth is predicted While a global trade slowdown
to be slower in 2023, impacted led to a contraction in exports,
by the weaker Chinese economy, main commodity exports
coupled with raising interest rates such as coal and palm oil and
from developed countries and armed sectors such as manufacturing,
conflicts. trade, and agriculture remained
resilient. The government’s
However, the Indonesian economy adept implementation of
has proven to be resilient, with structural reforms, such as
Gross Domestic Product (GDP) regulatory strengthening and
exceeding Rp20 thousand trillion. infrastructure development,
This was an impressive achievement, and a vigilant monetary policy
underscoring the country’s resilience have successfully maintained
and consistent economic progress inflation rates, as evidenced by a
with per capita GDP stood at Rp74.41 rate of 2.61% in 2023. Consumer
million. Confidence Index (CCI), Current
Economic Condition Index (CECI),
Indonesia’s growth was driven by and Consumer Expectation
several factors, primarily household Index (CEI) – all above 100, or
DIAN SISWARINI consumption that grew 4.82% yoy “optimistic”. CCI stood at 123.8,
PRESIDENT DIRECTOR and contributed 53.18% to GDP and while CECI and CEI stood at
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD OF DIRECTORS REPORT OF THE BOARD OF DIRECTORS
PERFORMANCE OVERVIEW
113.6 and 133.9, respectively. reveal that 87.6% of males and imposed on telco providers for
Heightened election-related 85.5% of females now have every user’s data verification.
activities have also contributed internet access, emphasising Another challenge is the
to economic growth. All of these a relatively balanced internet considerably high spectrum
factors contributed significantly adoption across genders. charges. GSMA Report points
to GDP and a positive outlook to Indonesia’s ratio of spectrum
for the nation’s economic future. Internet penetration is also charges to telco operators’
high in rural and urban areas, revenue at 12%, higher than
In the telco sector, the industry albeit there is a gap between Asia Pacific’s median ratio
remained strong and thriving. these areas. Urban internet at 8.7% and global median
Analysys Mason forecasted penetration reached 82.2% ratio at 7%., These challenges
mobile data traffic growing and 74% in rural areas. This inflated operational and capital
strong 22% yoy to reach 53,000 indicates high adoption rate of expenditures as well as the
Petabyte in 2023, while mobile digital technology with room capability of telco providers
connection to reach 320 million for growth and opportunities to in carrying out services
and total handset to reach 310 bridge the penetration gap. to more locations equally.
million by end of 2023. On the Additional spectrum is vital
Our 2023 strategy, aimed at preserving the vision of being the Leading Converged Fixed Broadband segment, Overall, higher internet in order to provider broader
Operator, has proven to generate solid growth and improve profitability as well as traffic was expected to grow penetration showed Indonesia’s 5G connectivity. Moreover,
33% yoy to reach 71,000 increasing embrace of digital internally, the Company
optimized CAPEX. This year we expanded our convergence transformation to key
Petabyte by end of 2023 and technologies, paving the way endeavoured to be more agile
enablers within the Company, such as Network, IT, Distribution, and Human Capital, FBB connection forecasted to for enhanced communications, following the adoption of new
enabling us to deliver true convergence to our subscribers. grow 15% yoy to reach 17 million economic growth, and social technologies and to be more
Meanwhile, FBB connection development in the country. innovative in order to maintain
from MSME segment connection Indonesia also continued the the gap with competitors. We
is expected to grow 9.0% yoy expansion of 5G adoption, and also always strive to make sure
Net profit for the year: Rp1.28 trillion, Contribution of data and digital
to reach 3.4 million. Indonesia we are excited to be a part of that we generated optimal
a growth of 15% YoY services to revenue: 91%
also continued to drive internet this journey. returns from all investment,
penetration to ensure all maximising the utilisation of our
EBITDA grew faster than revenue at 12% Total customers:
YoY to Rp15.89 trillion, reflecting strong 57.5 million
Indonesians have access to CHALLENGES AND ITS existing infrastructure as we
cost excellence; improvement in EBITDA
knowledge, market, and public MITIGATION STRATEGIES look to expand our network to
Convergence penetration: services. In 2023, Indonesia drive convergence adoption.
margin that reached 49,1%
75% experienced a significant
Record high revenue: Rp32.34 trillion, surged in internet penetration – In this context, the Company Navigating through these
an increase of 11% YoY Blended ARPU: a signal of positive progress in had to face multifaceted challenges demands astute
Rp43 thousand (Q4-2023) the country. challenges that tested its management and strategies
Sound financial position with gearing resilience. The armed conflict to maintain XL Axiata’s
ratio that reflected in gross debt to Active users of myXL and AXISNet: As per the latest data of between Russia and Ukraine, position in the competitive
EBITDA of 2.89x. 29 million the APJII survey, internet for example, has impacted the telecommunications landscape.
penetration has reached a global supply chain. More recent Our strategy formulation starts
Free cash flow (FCF) was robust, Total BTS: substantial 79.5%, reflecting is the Palestine-Israel conflict at the top with our Board
up 69% to Rp8.72 trillion 160,124 a notable increase of 2.75% with potentially far-reaching of Directors and Board of
from the previous year. With a impacts to the global economy. Commissioners. Once strategies
vast population of 275 million and targets are approved, we
people, this rise indicates a Domestically, the challenges make sure that they are rolled
growing digital presence among we noted include regulatory out to the last layer in our
Indonesians. The statistics also challenges, such as charges organisation and implemented
38 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 39
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD OF DIRECTORS REPORT OF THE BOARD OF DIRECTORS
through both horizontal and underlining the Company’s aimed at enhancing customer business growth and technological 29 million active subscribers to develop additional 2 million
vertical collaborations. Strategy commitment to providing retention and acquisition across empowerment across various and experiencing a remarkable homes passed. Today, in terms
cascading is key, and this is widespread connectivity and diverse segments. By tailoring sectors in Indonesia. growth in Monthly Active Users of service coverage, XL Axiata
supported by both massive services. Moreover, XL Satu services to individual preferences (MAU), nearly twice since is able to report excellent
and granular checkpoints. This Biz, has played a pivotal role in and needs, we ensured there PERFORMANCE December 2021. This surge in progress of converged services
allows us to, first of all, ensure empowering small and medium- was a personalised experience OVERVIEW user engagement highlighted XL with penetration rate at 75%
that our activities are on track sized enterprises (SMEs) across for every subscriber, fostering a Axiata’s deep understanding of and XL Home and XL Satu Fiber
and relevant to our goals and, Indonesia. Through innovative loyal customer base. Our strategies led to concrete customer needs and emphasised services available in 86 cities.
secondly, to be very nimble in SME ICT solutions, XL Satu Biz results for the Company. In the their personalised approach.
detecting problems and looking has reached numerous MSMEs, Additionally, the Company first half of 2023, XL Axiata Supported by these initiatives,
for solutions. At the same enabling them to enhance has successfully harnessed posted robust growth, achieving Furthermore, XL Axiata’s XL Axiata actively pursued the
time, we enforce discipline productivity and efficiency in growth through cross-segment double-digit growth in its commitment to network development of FMC services for
in implementing our chosen their operations. synergies, allowing brand financial performance amidst expansion was evident corporations and SMEs, aligning
strategies. portability across segments of competitive market dynamics. through its substantial capital with the growing demand for
Our ICT solutions are currently Prio, XL, and Axis. Engagement Emphasising its convergence expenditure of Rp7.16 trillion. By Information and Communication
With said approach, the operational in mining sites, in our digital apps continued to strategy, XL Axiata strengthened the end of 2023, the Company Technology, IoT, and Big Data
Company was able to identify islands, and urban areas. For increase, and we have added the its fixed mobile convergence posted a total of 160,124 BTS, services. This approach, coupled
opportunities to deliver more clients in the mining sector, new Selfcare feature on myXL for (FMC) services across products, with 104,993 4G BTS, marking with a strong foundation and
innovations and more efficient our private network has been subscribers who need to do quick network infrastructure, and IT a 10% growth from the previous customer-centric strategies,
operations. In terms of service supporting their intelligent signal troubleshooting, control management. This strategic year. This extensive network positioned XL Axiata as a
proposition, we came up with mining initiative, enabling phone credit use, and search approach resulted in a 11% enhancement, coupled with 61% pioneering force in Indonesia’s
hyper-personalised propositions autonomous trucks, monitoring features. Our other initiative increase in total revenue, fiberized sites, led to a notable telecommunications sector.
to make our services more drones, and IoT sensors for was to launch the e-SIM card. reaching Rp32.34 trillion, 21% year-on-year increase in
affordable for subscribers. We predictive analysis. We also This initiative was strengthened with data and digital services network traffic. On 5 May 2023, XL Axiata
also maintained a cost excellence work with a client in water by partnerships with several accounting for a significant 91% conducted its shareholders’
initiative to continue exercising distribution, whom we support phone manufacturers and gained of this revenue at Rp29,4 trillion. Additionally, XL Axiata’s meeting. During this meeting,
prudent spending. Moreover, in with Smart Water Meter substantial traction from existing strategic vision as a “Leading several crucial decisions
response to Bank Indonesia’s connectivity to monitor clean and new subscribers. This positive growth was Converged Operator in were made to strengthen the
decision to raise the benchmark water supply in Gili Trawangan supported by efficient cost Indonesia” was underscored by Company’s financial standing
interest rate by 25 bps, we and Gili Meno in Lombok. To boost our internal efficiency, management, reflecting a 12% collaborative efforts with Link and operational efficiency.
initiated loan restructuring to Presently, client can enjoy real- along with the state electricity year-on-year increase in EBITDA Net. The partnership aimed to Shareholders also approved a
maintain a robust balance sheet. time and efficient monitoring of company we started using to Rp15.89 trillion, alongside a expand convergence services dividend payment, amounting to
household water supply, which Advance Metering Infrastructure noteworthy net profit growth to to 8 million home passes over 50% of the profits, at Rp42 per
We also drove infrastructure enhances billing transparency (AMI) and Automatic Meter Rp1.28 trillion. XL Axiata closed the next five years, with the share, reflecting the Company’s
readiness for convergence. In and accuracy. In cities, we Reading (AMR) for easier 2023 with a substantial quality establishment of Serve Co and commitment to rewarding its
2023 we rolled-out convergence have continued to supporting monitoring of power consumption subscriber base of 57.5 million Fiber Co entities. Following up investors.
operating model to every growth of smart cities, such in our BTS towers, with 98% and an improved blended ARPU this synergy, the entities signed
dimension of XL Axiata and as South Konawe and South of our towers now connected of Rp43 thousand in the fourth Fiber to the Home Network REALISED
we took this to the next level Sulawesi regencies, enabling to PLN infrastructure. Rapid quarter of 2023, up from Rp40 Development and Operation PERFORMANCE VS
through deeper digitalisation, smart governance with reliable adoption also extended to our thousand in the fourth quarter in Agreement on 28 June 2023, TARGETS
automation, and organisational connectivity from XL Axiata. retailers and we have become the previous year. which stipulates, among
transformation. more effective and efficient in others, development and The Company defined targets
Our strategies enable us to increasing productivity. The Company’s digital operations of 1 million home for 2023 to improve financial
As a result, the expansion of XL consistently bring value to transformation efforts, passed in various locations in performance and market
Satu to new cities significantly subscribers. One of our key These efforts collectively reflect XL especially through the MyXL and Indonesia. XL Axiata and Link position. Revenue growth,
bolstered subscriber numbers focuses was on personalisation Axiata’s dedication to enriching the AXISNet applications, proved Net also reached non-binding EBITDA margin, and capital
and convergence penetration, efforts across all digital channels, lives of subscribers while driving highly effective, engaging over agreement on December 2023 expenditure are the primary
40 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 41
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD OF DIRECTORS REPORT OF THE BOARD OF DIRECTORS
financial indicators under with flexibility and invest in strategy has been honoured Advanced technology Summit in Indonesia, Director GOOD CORPORATE
consideration. employee training and upskilling as one of the best in the implementation not only makes & Chief Digital Transformation GOVERNANCE
via advanced degrees and industry, as we received the us more efficient cost-wise, and Business Enterprise IMPLEMENTATION
In revenue growth, we aimed to specialised certificate programs. Best Companies to Work for in but also more environmentally Officer Yessie D. Yosetya was
achieve a revenue growth rate We also consistently measure Asia-Indonesia Chapter in Asia conscious, which is in line with appointed by the government Our commitment to good
in line with the industry target. employee engagement, run Awards 2023. our commitment to reduce our to represent Indonesia as Chair corporate governance (GCG)
Moreover, with a target EBITDA cultural programs, and enhance operational carbon emissions. of G20 EMPOWER, which implementation is integral to XL
margin of around 49.1%, XL employee experience. Subsequently, our operations’ We have continued to expand resulted in the Indonesia Gender Axiata’s success as a business
Axiata aspired to optimise effectiveness is also dependent energy efficiency methods Dashboard on Women and entity, and the Company fully
its operational efficiency and In talent readiness, our goal has on good risk management under Green BTS initiative that handed over to India’s minister complies with all GCG provisions
profitability. been to improve our personnel practice. Risk management was first launched in 2014. This of women’s affairs during the in the laws and regulations. In
preparedness by implementing needs to be performed initiative encompassed the G20 Summit in India this year. 2019, the Company started to
Furthermore, we strive to a thorough succession- proactively in identifying risks, adoption of outdoorisation, PLN- modernise its GCG practices
allocate resources efficiently planning process. We regularly followed by risk evaluation, isation, intelligent energy saving, In 2023, Ms. Yessie D. Yosetya through digitisation to ensure
and have set a capital monitor the implementation risk management, and risk and equipment modernization also received a recognition a more effective and accurate
expenditure target of of individual development mitigation. This requires a such as RAN radio and rectifier. as the Most Influential CIO process. Modernisation included
approximately Rp8 trillion in plans for future leaders. thorough awareness of the Today, Green BTS has covered 2023 at the iCIO Awards the implementation of Single
2023 to allow the Company Development programs have business risks, such as risk over 90% of our stations with 2023. Alongside her, our Chief Registration System (SRS),
to focus on innovation, been established throughout associated with data security, up to 50% energy savings rate. Corporate Affairs Marwan O. integrated to our repository
infrastructure development, the year, ranging from in-class privacy, regulatory compliance, Moreover, the Company has Baasir was also recognised in management system (RMS) for
and strategic initiatives to instruction, mentoring, and and operations while leveraging attained Carbon Disclosure the Selular Awards 2023 as one easier document management
enhance product offerings and on-the-job training to co-pilot technology and data. We have Project (CDP) certification with of the people who successfully and use of e-stamp duty as
overall business capabilities. models. Furthermore, in order integrated technology and data a B score following a five-month became an innovator and mentioned above as well as
to guarantee functional base analytics in risk management. appraisal. To gain certification, driver in digital technology the implementation of e-Board
In terms of our actual readiness, we built corporate We now have more robust risk the Company took stock of use. Furthermore, our XL Meeting Management and
performance, we are pleased to talent pools for particular management capabilities with its scopes 1, 2, and 3 carbon HOME business line received e-GMS that utilised the eASY.
report that XL Axiata was able functional areas. improved insights on risk trends emissions as the baseline for two awards from the Asian KSEI system.
to deliver its 2023 targets. that allow us to make better its carbon footprint reduction Telecom Awards 2023: the
Moreover, we are aware that decisions. targets. Broadband Telecom Company The Company also ensures that
OPERATIONAL our talents at XL Axiata come of the Year and Marketing & all GCG policies are always up-
HIGHLIGHTS from a variety of generations. Apart from risk management, Alongside its commitment to Brand Initiative of the year. to-date. We have revamped
This trait is valuable to us since technology is also integrated greening the environment, Organization-wise, XL Axiata our GCG Roadmap to align
The backbone of our strategies it allows us to seek out new in our governance system. XL Axiata also recognizes received The Best SPEx2 with the recent developments
and performance is our people. viewpoints and ideas while One notable initiative was the importance of women (Strategy-i nto -Per for mance in corporate governance
In 2023, we focused on three building business strategy. We introduction of Single empowerment as shown by Execution Excellence) practices. We also updated
areas of people management, organised groups of people Registration System (SRS), our engagement as President Company in Telecommunication other policies, among others
namely talent retention, talent with diverse backgrounds an innovative platform Director & CEO of XL Axiata Industry, making us the only Procurement Policy, Enterprise
readiness, and managing a mix and skill sets, allowing us to designed to register, number, who was appointed by the telco provider to receive this Risk Management Policy dan
of generations in our workplace. discuss a number of options. and categorize all corporate government to represent prestigious accolade. The Framework, Gift, Donation and
To foster open communication documents seamlessly. This Indonesia as Co-Chair of achievements underscored Sponsorship Policy, Business
In retention, we apply proactive and collaboration, we apply innovative system, integrated Women 20 (W20), Indonesia’s the Company’s position as an Continuity Management Policy,
and reactive approach. a range of communication with a repository system presidency of the G20 in innovative and resilient telco and Terms of Reference of
Employees receive recognition channels, employ flexible (RMS), streamlines internal 2022, as well as in various player as we continued to forge Risk and Business Continuity
and rewards for their efforts, working methods, and tailor processes, ensuring efficiency women’s advocacy activities ahead in our path to be the Committee. Furthermore, the
both in the form of monetary the work environment to the and accuracy. We have also to date. Following the Women Leading Converged Operator in Company organised capacity
and nonmonetary benefits. traits of several generations. adopted electronic duty stamps 20 (W20) group at the G20 Indonesia. building sessions for Board
We provide benefit plans We are pleased that our people for digital signatures.
42 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 43
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
REPORT OF THE BOARD OF DIRECTORS REPORT OF THE BOARD OF DIRECTORS
members, both Directors and an independent third party. Cooperation and Development mobile segment pave the way market restoration, high-value for their invaluable contributions
Commissioners, and committee Assessment was carried out (OECD) forecasted 2.7% for telcos to concentrate on subscribers, and targeted to our success in 2023. The
members under the Board of based on ASEAN Corporate growth. Indonesia is projected profitable growth, leveraging investments positions us well challenges were met with
Commissioners. The themes Governance Scorecard to continue growing at around the burgeoning momentum to navigate these challenges. resilience, and opportunities
among others were related to (ACGS), using available public 5% with per capita GDP to of 5G technology. Moreover, Despite the complexity of the optimised with innovative
Indonesia economic update and information from the Company. reach Rp82.5 million in 2024. there is vast untapped potential global economic landscape, solutions. Together, we are
the latest developments in the The Company has received a in Fibre-to-the-Home (FTTH) the convergence journey reaffirming our commitment
telecommunications industry. score of 95.15 from this process. In terms of telco industry, and Convergence services. corresponds with increasing to delivering outstanding
Going forward, we will continue Indonesia’s internet penetration With currently low penetration market demands, assuring a telecommunications. With the
Furthermore, the Company to improve our GCG practices rate is forecasted to rise to rate, these services offer a favourable outlook. unwavering support of our
has anti-bribery and anti- in line with best practices to 81.17% in 2025 while smartphone promising arena for growth. stakeholders and the dedication
corruption policies, including maintain business sustainability ownership is projected to reach In the enterprise segment, ICT APPRECIATION of our team, we look forward
self-declaration of Anti Bribery and enhance stakeholders 89% of the population. FBB continues to be a lucrative to continuing this journey of
Anti-Corruption (ABAC) & Gift value. service also has a positive sector, especially in terms of In closing, we extend our progress in the years ahead.
Donation Sponsorship (GDS). outlook. According to Analysys scaling up Convergence. heartfelt gratitude to our
During 2023, the Company has OUTLOOK Mason report, penetration rate esteemed shareholders, Board
disseminated related policies in residential FBB will grow Our strategic focus on of Commissioners, regulators,
to all employees. Upholding As we approach 2024, the global to 26% by 2026, while the sustainable profitability, employees, and loyal customers
information transparency, landscape appears challenging, enterprise segment will enjoy
all updates that constitute marked by the unsettling an 8% annual growth until 2026.
public information have been backdrop of the Palestine war
published on the Company’s and the trend towards de- Therefore, Indonesia’s
website. globalisation. Forecasts for telecommunications market
global economic growth in 2024 stands resilient, offering
To assess GCG implementation show signs of moderation with significant opportunities. Jakarta, 4 April 2024
quality, the Company engaged the Organisation for Economic Market reparations in the On behalf of the Board of Directors
DIAN SISWARINI
PRESIDENT DIRECTOR
44 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 45
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
THE BOARD
THE BOARD OF DIRECTORS
OF DIRECTORS
DIAN SISWARINI FEIRUZ IKHWAN ABHIJIT J. NAVALEKAR DAVID ARCELUS OSES I GEDE DARMAYUSA YESSIE D. YOSETYA
PRESIDENT DIRECTOR DIRECTOR DIRECTOR DIRECTOR DIRECTOR DIRECTOR
46 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 47
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
STATEMENT OF ACCOUNTABILITY OF
2023 ANNUAL REPORT BY THE BOARD OF
MACROECONOMICS,
COMMISSIONERS AND BOARD OF DIRECTORS INDUSTRY & BUSINESS
We, the signatories, hereby stated that all information contained in the 2023 Annual Report of PT XL Axiata Tbk
STRATEGY OVERVIEW
has been comprehensively presented and that we are fully accountable for the accuracy of the content of
PT XL Axiata Tbk Annual Report.
This statement is made thruthfully.
Indonesia once again proved resilient in 2023 by outpacing
Jakarta, 4 April 2024
global economic growth. In terms of telecommunication
BOARD OF COMMISSIONERS market, the underpenetrated fiber segment suggests ample
market opportunities for service providers to enter. Room for growth
is equally significant in the mobile market. Strategically positionied as
the first telco operator to enter the fixed mobile convergence (FMC)
Dr. Muhamad Chatib Basri segment, XL Axiata will continue to drive FMC growth momentum
President Commissioner and realize its vision as a Leading Converged Operator.
Dr. Hans Wijayasuriya Vivek Sood
Commissioner Commissioner
MACROECONOMICS AND According to OECD’s projection, 2023 growth
INDUSTRY OVERVIEW stands at 2.9%, or slightly lower than IMF’s
projection of 3.00%. The current tempo of the
global economy was significantly below its
Julianto Sidarto Muliadi Rahardja Yasmin S. Wirjawan The global economy was confronted with historical averages, which was a consequence of
Independent Commissioner Independent Commissioner Independent Commissioner different challenges, including persistent inflation the inflationary pressures, geopolitical tensions,
and sluggish growth prospects. While GDP and pandemic difficulties. Despite ongoing efforts
growth in 2023 surpassed initial projections, to control headline and core inflation and the fact
the expansion encountered a decline in that global activity peaked at the end of the
BOARD OF DIRECTORS momentum as a result of financial tightening, previous year, a complete return to pre-pandemic
diminished trade expansion, and a decline in trends seems progressively more unattainable.
business and consumer confidence. Due to The enduring slow and uneven development of
the constraining financial climate marked by the global economy underscored the preexisting
escalating real interest rates, interest-sensitive global disparities and uncertainties that continue
industries have experienced a deceleration, to influence its course. Nevertheless, emerging
Dian Siswarini
President Director specifically the housing sector and economies economies appeared to underpin the global
heavily dependent on bank-based financing, growth, with growth levels that exceeded both
with Europe being particularly affected. global and regional levels.
Abhijit J. Navalekar David Arcelus Oses
Director Director
Feiruz Ikhwan I Gede Darmayusa Yessie D. Yosetya
Director Director Director
48 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 49
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
MACROECONOMICS OVERVIEW & BUSINESS STRATEGY MACROECONOMICS OVERVIEW & BUSINESS STRATEGY
WORLD ECONOMIC OUTLOOK UPDATE JANUARY 2024 INFORMATION COMMUNICATION The central role of technology and connectivity
GROWTH PROJECTIONS
SUSTAINS GROWTH is driven by internet penetration rate that rises
from year to year. The Indonesian Internet Service
GLOBAL ECONOMY ADVANCED ECONOMIES EMERGING MARKET & DEVELOPING Providers Association (APJII) reported that internet
ECONOMIES
Global technological advancements have led to penetration until early 2024 reached 79.5% from
a growing recognition of the ICT industry as a 78.19% in the previous year. The highest penetration
strategic area for the advancement of a country. rate is 93,17% among millennials, followed by 87,02%
The Coordinating Ministry for Economic Affairs of among gen-Z, and 83.69% in gen-X.
4.2
4.1
4.1
the Republic of Indonesia issued a White Paper on
Indonesia’s National Strategy for Digital Economy Individuals in Indonesia continue to mostly use
3.2
3.1
3.1
Development 2030 that targets that by 2045, prepaid mobile internet plans, with signal quality
the digital economy will have grown nine times or being the primary consideration when selecting a
1.8
contribute 20% of the country’s GDP. Because of cellphone provider. The penetration rate of fixed
1.6
1.5
this, the digital economy needs to be strengthened broadband connections among individual customers
in three areas: the broad scope, which includes is now 25.6%, suggesting a large market opportunity
economic activities from various sectors enabled by for the Company.
2023 2024 2025 2023 2024 2025 2023 2024 2025
digital technology; the narrow sector, which refers to
sectors driven by digital technology; and ICT sector Internet penetration rates range from 93% for micro
INTERNATIONAL MONETARY FUND
as core scope, which includes hardware, software, and small businesses to 99% for medium-sized
and ICT services like those offered by businesses businesses, indicating that internet connectivity has
WORLD ECONOMIC OUTLOOK JANUARY 2024
such as XL Axiata. become essential for business players, particularly
GROWTH PROJECTIONS BY REGION micro, small, and medium-sized entities. This is
(PERCENT CHANGE) Other than the White Paper, the Indonesian connected to the growing trend of using digital
government through the Ministry of Communications media, particularly social media, to market products
and Informatics recently launched Digital Indonesia and services. According to data, 82.10% of small
2045, a book that outlines the country’s digital businesses and 89.67% of micro enterprises rely on
5.4
5.2
ambition, bolstered by three pillars: (1) modern and social media. The percentage of MSMEs that use
4.8
4.1
responsive e-government, (2) digital economy that the internet heavily is directly correlated with the
3.8
4.2
promotes tech-enabled innovative economy, and penetration rate of fixed broadband in the three
3.3
(3) empowered and cultured digital society. This enterprise segments, which is at 61.14%, 74.69%,
3.2
3.1
3.1
2.9
2.5
2.5
and 92.31%, respectively. MSME entities are also
2.5
vision champions inclusivity, empowerment, and
sustainability as development principles. With this aware of the importance of the internet to the
2.1
2.0
1.9
1.7
1.7
vision, Indonesia aims to be Southeast Asia’s leading expansion of their businesses; 81.94% of them claim
digital power and a competitive nation through digital that investing on the internet boosts their revenue.
technology. This initiative reinforces the central role
0.9
0.5
that digital technology and connectivity are playing
2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024 2022 2023 2024
in Indonesia’s development going forward.
World United States Euro Area Middle East Emerging and Latin America Sub-Saharan Africa
(real GDP growth, and Central Asia Developing Asia and The Caribbean
percent change)
Source MF World Economic Outlook, January 2024
Note: Order of bars for each group indicates (eg 2023, 2024 projectans, and 2025 projetos)
In line with regional performance, Indonesia continued to be resilient with Q3 growth at 5.05% in 2023. The
information and communications sector contributed a significant 4.23% to the growth overall and was one of
the leading growth contributors in Java Island. Solid domestic demand provided support for robust economic
expansion. Household consumption increased by 4.82% year-over-year, which was consistent with rising
consumer confidence, stable purchasing power, and sustained mobility.
50 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 51
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
BUSINESS STRATEGY
BUSINESS STRATEGY
To support its various business initiatives, XL Axiata risks. Furthermore, in order to facilitate business
required appropriate financial strategies. In early growth, the Company meticulously managed
2023, utilizing the proceeds raised from a Rights its capital expenditures (CAPEX) and devoted a
Issue in 2022, XL Axiata continued its early debt significant percentage of its Rp8 trillion CAPEX
payments. It was a strategic step that could save up funds to network development. At the same time,
to Rp300 billion of interest expenses. As of present, The Company managed operational expenses by
most of the Company’s liabilities or 40.4% of its taking steps such as digitizing its operations. The
debts have fixed interest rates and the Company has strategy resulted in OPEX growth that was lower
no foreign denominated debts, thereby minimizing than revenue growth, allowing XL Axiata to declare
its exposure to interest rate and currency exchange a net profit of Rp1.28 trillion for 2023.
Subscribers (Mn) ARPU (IDR 000)
96
XL Axiata had a significant momentum in the service proposition and the reliability of the service
90
92
90
expansion of convergent services in 2023. Data- quality for customers also contributed to the FMC
87
57.5
57.5
57.5
driven targeting strategies, pricing distinction, and penetration. Presently, 86 cities/districts have
the digitization of client acquisition channels made access to XL Home and XL Satu fiber, XL Axiata’s 40 42 43
39 41
this possible. In addition to maintaining its leadership FMC products. Of these, 235 thousand homes have
41
40
40
in digital services, the Company enhanced been linked to the home service, and convergence
38
37
its competitiveness by implementing digital penetration has reached 75%.
transformation across all facets of the operation,
1.6
1.6
1.5
including customer experience, distribution It was impossible to isolate XL Axiata’s ample
4Q 22 3Q 23 4Q 23 4Q 22 3Q 23 4Q 23 FY 22 FY 23
ecosystem, service proposition, and development experience as a mobile operator with sales,
of data analytics capabilities. XL Axiata’s services distribution, and a cellular network presence across Postpaid Prepaid Prepaid Postpaid Blended
are underpinned by exceptional infrastructure and Indonesia from its accomplishments in promoting
technology that are continuously refined. FMC adoption. The Company’s expertise has had Traffic (Pb) Convergence Penetration
a significant influence not only over branding but
Accelerating the uptake of FBB and FMC services also by allowing XL Axiata to optimize its current
in Indonesia was one of the Company’s other key assets towards FMC services. In 2023, mobile 75%
strategies for achieving its goal of being a Leading service expansion continued, and XL Axiata today +21
69%
Converged Operator. To that end, the Company operates 160,124 BTS towers in total, including over 56%
leveraged its synergy with Link Net as a provider 104 thousand 4G BTS towers, serving 57.5 million 44%
37%
of fiber optic networks. Both entities have taken subscribers.
235
9,638
+20 +3 32%
a number of strategic actions, such as formalizing
206
28%
7,991
19%
an agreement in mid-2023 to develop one million Beyond coverage, XL Axiata also excels in terms
154
2,453
homes passed through the Fiber to the Home of quality. Technology innovations have enabled
2,529
132
123
2,106
112
102
Network Development and Operation Agreement. the Company to offer reliable internet connection
99
A non-binding agreement covering the transfer of quality, as evident from the 21% increase of service
FBB Link Net’s operations, including its 750,000 traffic to 9,638 Petabytes. Customer satisfaction and
users to XL Axiata, and the development of 2 experience were always put first, as seen by the 4Q 22 3Q 23 4Q 23 FY 22 FY 23 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 1Q 23 3Q 23 4Q 23
million homes passed in December 2023 further notable improvement in NPS in 2023.
cement this synergy. Apart from the network, XL HOME SUBSCRIBERS CONVERGENCE PENETRATION (%)
CONV. PENETRATION XL satu subs./ Total FBB Subs
52 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 53
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
SUSTAINABILITY STRATEGY
SUSTAINABILITY STRATEGY
There are four pillars of XL Axiata’s Sustainability Strategy, namely
Building Prosperity, Nurturing People, Process Excellence, and Planet
› Environment
and Society. Each pillar targets a specific area of sustainability, Menggunakan kriteria
namely: lingkungan, pelaku usaha
menganalisis dampak
kegiatan operasionalnya Environment
Building Prosperity: Process Excellence: terhadap lingkungan hidup Lin Accelerate energy efficiency and
gk implement the use of renewable
through technology, XL Axiata contributes to driving XL Axiata builds business process excellence through dan langkah yang dapat Hid ung and clean energy to reduce carbon
the economy and lifting people’s living standards. the implementation of Good Corporate Governance diambil untuk turut menjaga up
emissions by 45 percent by 2030.
an
Digital innovation is expected to help reduce the (GCG). Digitalization has now been applied to GCG kelestarian ekosistem.
welfare gap and make productive activities more practices has made the Company more transparent
efficient. and accountable. › Social
Business actors pay
Nurturing People: Planet and Society: attention to their
Sosial
technological development needs to be as part of society, XL Axiata continues to strive for relationships and roles in the
ESG Strategy
accompanied by the development of human responsible business practices and technological social environment, namely 2022 -2024
resource skills. XL Axiata is committed to promoting innovations that benefit the environment and society in general, suppliers,
Social
a culture of innovation, a spirit of collaboration, and society. customers and employees.
Promoting inclusive
ethics, as well as building digital skills.
stakeholder engagement
› Governance
ol
Business actors maintain
a
compliance with the Kel
a
Building Prosperity Process Excellence
principles of good business Tat
governance to ensure
Driving the economy, Building a transparent that business activities are
uplifting living standards and accountable carried out responsibly.
through technology business process
services. through GCG practices XL Axiata has prepared an ESG Governance
and digitalization. document for the 2022-2025 Strengthening good
governance practices to
period with three initiatives for increase accountability.
each ESG component:
Nurturing People Planet and Society
Fostering the culture of Bringing technology
innovation, collaboration, innovations that benefit
ethics, and digital skills. the planet and people.
Under each program, the company has also laid value chain and establishing a baseline for Scope
out its actions over the following three years. For 3 emissions, the Company also intended to boost
2023, under energy initiative 1, the Company aimed the availability of digital expertise. In addition,
to increase energy efficiency and the amount of the Company focused on improving XL Axiata’s
Furthermore, the sustainability aspect also consists of Environmental, Social and Governance (ESG) renewable energy it uses to supply electricity. understanding of GCG and data privacy under
components. The ESG category is considered to represent various issues faced by the world, such as climate Under Initiative 2 on digital inclusion and community initiative 3 on GCG practices and accountability. It
change, employment and welfare, and ethics in business. empowerment, the Company was committed to also aimed to establish a privacy maturity index
offering digital solutions that increase access to score, develop a sustainability dashboard, and work
ESG is also often used as a criterion in measuring sustainability performance, including in businesses. The use basic utility, health, and education services. Along with independent auditors to calculate sustainability
of ESG is increasingly widespread in informing investment considerations and business impact reporting, and with setting targets for emissions reduction in the ROI.
is increasingly recognized as an important part of company strategy and operational activities.
54 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 55
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
MARKETING ASPECT
MARKETING ASPECT
The Company uses a
number of marketing
strategies to promote
its goods and services,
including accelerating
XL Satu’s expansion into
new Indonesian cities,
fostering synergies across
segments by promoting
brand portability, and
personalizing efforts across
all digital channels to attract
and retain new customers
from all segments. In order
to fully comprehend its
clientele and create more Customers of XL Satu will begin receiving alluring
deals in 2023 in the form of monthly bundles
insightful and successful priced as low as Rp276 thousand. Customers
upselling and cross-selling who purchase this bundle are eligible to access
a wide range of entertainment options with
strategies, the company the STB XL HOME Entertainment Box. There
also refined its information are several package options, from Lightning,
technology architecture. which has speeds up to 30Mbps, to Extreme, In addition, the company offers the XL Xtra
which has speeds up to 1Gbps. XL SATU has Combo Flex beginning pack, which comes
also made use of Fiber to the Room (FTTR) with a double quota incentive for the entire Ordering the newest Samsung Galaxy
technology in order to optimize services and year, in an effort to increase the number of S23 5G series is exclusively available to
guarantee fast and reliable internet connections. prepaid clients. Additionally, the company is XL PRIORITAS postpaid customers who
In order to better serve its customers, XL Axiata working with multiple device manufacturers subscribe to myPRIO DEAL. Additionally, a
also partnered with a number of streaming to produce eSIM. Customers can also get co-branded credit card designed exclusively
service providers, including Video, Vision+, music, online gaming, gourmet material, for XL PRIORITAS customers is offered in
CATCHPLAY+, and LIONSGATE. The company beauty and lifestyle content, and more with association with one of the state-owned
provides XL SATU Biz Starter and XL SATU the Star Series package. In several locations, banks. Additionally, toward the end of the
Biz Prime goods that are especially made to XL Axiata hosted the We Are More Project year, XL Axiata introduced PRIO Club as a
meet the demands of MSME players, and it is 2023 with the subject of Carnival to offer this way to thank its postpaid customers. Offers
dedicated to empowering MSMEs. Free usage package to the public. In accordance with the for special benefits vary depending on your
of the Majoo platform, an app for business content concept, the company worked with PRIO subscription bundle.
administration featuring menus like financial four key opinion leaders (KOLs). Each KOL
management, business analytics, and human offers their customers the chance to purchase
resource management, is part of this offer. exclusive goods.
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MANAGEMENT REPORT Fast-Tracking with Agility, & Resilience
OUTLOOK
MARKETING ASPECT
In 2024, economic growth is predicted to slow down globally. The
IMF provided a somewhat more optimistic forecast of 2.9% growth,
compared to the OECD projection of 2.7%. Nonetheless, both
organizations are conscious of the difficulties posed by the pandemic’s
lingering impacts, conflicts that fuel inflation, and climate change, all
Meanwhile, AXIS customers receive The XL Hajj Starter Pack will be accessible
of which lead to volatility in the price of food commodities.
discounts on internet packages of up to starting in May 2023 to facilitate pilgrimage
70% along with additional limits for gaming, visits to the holy place. In the meantime,
social media access, streaming, and Teng- current Prepaid, AXIS, and XL PRIORITAS
Go products. With its revolutionary design, users will be able to access special Hajj Indonesia is aware that the Nonetheless, 2024 is generall Going forward, XL Axiata
AXIS’s most recent bundle offers internet internet bundles via the XL Axiata application. current global economic seen as a year of expansion due will continue optimizing
access with an infinite capacity that is downturn could make it more to domestic events such as the convergence momentum
good for a set amount of time. Packages XL Axiata’s Enterprise business saw a 37% difficult to meet its national elections. and growing its susbcribers
for consumers to access well-known social yearly revenue growth, bolstered by its growth goals. However, base, particularly high-value
media networks start at Rp 2,000. Play and products, including Fixed Network and Indonesia is confident it can The ICT industry continues to customers. As a responsible
Pause functions are included in this package Private Network. The company’s capacity expand 5.2% in 2024 given its to have ample room for growth, business enterprise, endeavors
to allow customers to completely control to deliver Business Solutions enables it to growth trend of above 5% for not only due to the increasingly to enhance profitability will be
internet access and quota usage. The AXIS offer integrated ICT services that enhance seven consecutive quarters, strategic value of ICT, but also complemented by initiatives
Nation Cup futsal event, which is attended seamless operations and significantly resilient household consumption, the society’s expanding needs for promoting environmental
by 1,200 schools from all over Indonesia, increase added value for clients in a variety of and low inflation rate. for ICT services across a range sustainability, community
AXISLABS 2023, which draws over 2,000 industries, including government, education, of domains. The Company also empowerment, and corporate
participants, and AXISELEB 2023, which and mining. XL Axiata’s services help its The domestic projection is more projects that market conduct is governance improvement.
receives over 4,000 talent show entries, all clients become more productive businesses upbeat than the World Bank’s at getting healthier amidst growing
serve to reinforce AXIS’ approach to youth that are prepared for the digital age. 4.9% in anticipation of th decline access to digital contents and
development. of commodity trade boom. smart gadget adoption.
58 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 59
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
Initiatives to drive market
reparation coupled with
consistent network and
service quality supported
the 11% YoY revenue
growth to Rp32.34 trillion.
MANAGEMENT
DISCUSSION &
ANALYSIS
60 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 61
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL
FINANCIAL PERFORMANCE
PERFORMANCE
In 2023, XL Axiata successfully
delivered a strong financial
performance in line with
the aim to drive better profitability.
The Company achieved double- PERFORMANCE OVERVIEW
digit revenue growth, alongside
stronger expansion in EBITDA and
net profit, resulted from effective cost Net profit at Rp1.28 trillion, Free cash flow (FCF) rose 69%
management. Optimal investments up 15% YoY to Rp8.72 trillion
were carried out to maintain superior
network quality and digital excellence
while at the same time strengthening Revenue stood at Rp32.34 trillion CAPEX at Rp7.16 trillion,
allocated primarily to network
cash flow and balance sheet positions. or 11% growth YoY expansion
STRATEGY OBJECTIVES of global inflation rate, hovering through efficiencies across the to its consistency in pushing
below 7%. The Company business. its fixed mobile convergence
In 2023, the telco business in closely followed any potential (FMC) ambitions. Despite the
Indonesia was more rational macroeconomic volatility, and To that end, the initiatives new competition in FMC, we
FEIRUZ despite continued strong interest rate rises which would in 2023 included improving managed to grow a strong
IKHWAN competition. The Company
seized the opportunity to carry
potentially impact our cost
optimization strategies. The
productivity,
management,
strong
and
cost
prudent
converged subscriber base,
which we believe will generate
out calculated monetization Company also carefully noted capital spending. These a higher customer lifetime
DIRECTOR & CHIEF strategies, which drove the developments in consumption strategies were executed value going forward. Besides
FINANCIAL OFFICER achievement of a strong growth in connection with movements through, among others, growing in fixed broadband
in revenue. of food and administered prices digitalization and improvement subscribers, this strategy has
that would affect product of distribution channels also led to a stronger quality
Other than business landscape, affordability. to drive lower sales and mobile subscriber base. This
XL Axiata also accounted for marketing expenses and smart served as a foundation for us
macroeconomic developments. This year, the financial emphasis investments to ensure effective to drive market reparation as
Indonesia remained resilient was on profitable growth and capital expenditure and better the Company has always been
with 5.05% growth in 2023. robust cash generation to asset productivity. a proponent of a healthier telco
Inflation was controlled at 2.61% strengthen the balance sheet industry that is able to grow
yoy – lower than the projection position. The Company also XL Axiata’s success in generating sustainably and provide better
by IMF of 3.6% and significantly intended to deliver strong a positive operating momentum quality service to customers.
so compared to the projection operational cost excellence in 2023 was also attributable
62 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 63
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL PERFORMANCE FINANCIAL PERFORMANCE
PERFORMANCE Revenues increased by 11% year
SUMMARY on year to Rp32.34 trillion, with
EBITDA outpacing revenue
With the telecommunications growth, increasing by 12% year
business being sensible in on year to Rp15.89 trillion. This
Revenue 2023, the Company had resulted the expansion of EBITDA
the possibility for pricing margin of 49.1%, resulting from
increased by 11% adjustments throughout the the Company’s strong cost
YoY to Rp32.34 year. The Company believed management. Profit after tax
price correction was required in surged by 15% to Rp 1.28 trillion.
trillion, with order for XL Axiata to continue The pick-up of internal cash
EBITDA growing improving the quality of service generation was reflected in the
provided to customers while free cash flow growth of 69% year
beyond revenue maintaining the business on year.
by 12% YoY to sustainability, which would overall
benefit the industry as a whole. Cost excellence was evident
Rp15.89 trillion. This strategy was also carried in the managed growth of
out with the objective to drive operational expenses by
the Company’s financial KPIs, 10% year on year, lower than
including improved profitability revenue growth, signalling
and a stronger balance sheet better efficiency and resulting in OUTLOOK in turn supports the aim to fast This sector has always been
structure. improved cost-to-revenue ratio. track profitable growth. As seen as an enabler for other
As noted, the Company reduced The Indonesian economy the FMC market in Indonesia industry sectors and plays a vital
The Company’s balance sheet its sales and marketing expenses is expected to continue its becomes more attractive, the role in the national economy.
improved through continuous by 6% attributed to digitalization recovery in 2024, providing Company foresees more telco Demand for telco services will
debt reduction and increased efforts. XL Axiata with opportunities players to enter the market, also sustain and grow, and XL
focus on internal cash generation. to grow healthily and pursue creating greater market Axiata is well poised to capture
The Company also kept a larger CAPEX had decreased by -21% the aspirations to capitalize on efficiency in the future. XL Axiata any opportunity in the market.
portion (57%) of borrowings at year on year as the Company the next growth opportunity also believes in the advantage of Going forward, to maintain
a fixed interest rate and kept focused on increasing asset in the underpenetrated fixed being the first in the market. As a business sustainability and
all debt in IDR denomination to productivity but without broadband in Indonesia and telco company, today XL Axiata generate long-term earnings,
eliminate the risk of currency compromising on network the opening up of fixed is the most prepared to be a true the Company will continue
fluctuations. Maturities are experience. This helped the mobile convergence (FMC) converged operator not only in to focus on cost excellence,
widely spread out over the next achievement of 21% traffic opportunities. terms of products and services, intensified through a broader
few years to provide steady cash growth year on year to 9,638 but also organisation-wise. structural cost transformation
balances. Petabytes. CAPEX allocation was Through FMC offerings, XL across the organisation to
focused on network expansion, Axiata expects to gain a better XL Axiata believes Indonesia has enable XL Axiata in realizing its
Backed by sustainable revenue reflected in the number of XL customer lifetime value, which a very promising telco market. vision and mission.
streams and increased Axiata’s BTS units that totalled
efficiency, XL Axiata was able to 160,124, up 10% yoy, including
to achieve strong results in line 104,993 4G BTS and 61% of
with the Company’s targets, fiberized network.
demonstrating its dedication
to deliver consistent positive
outcomes.
64 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 65
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER CONSOLIDATED STATEMENTS OF CASH FLOWS
COMPREHENSIVE INCOME
(In Rp billion)
(In Rp billion) DESCRIPTION 2023 2022 2021 2020
DESCRIPTION 2023 2022 2021 2020 Net Cash Flows Provided by Operating Activities 16,096 14,104 11,963 13,949
Gross Revenue 32,336 29,172 26,766 26,018 Net Cash Flows Used in Investing Activities (10,377) (11,495) (6,931) (5,498)
Operating Expenses 16,438 14,907 13,467 12,949 Net Cash Flows Used in Financing Activities (9,935) (91) (5,334) (7,091)
EBITDA 15,885 14,235 13,287 13,060 Net (Decrease) Increase in Cash on Hand and in Banks (4,216) 2,518 (302) 1,361
Cash and Cash Equivalents at Beginning of Year 5,184 2,664 2,966 1,603
EBIT 4,380 3,658 3,331 605
Effects of Changes in Foreign Exchange Rate on Cash on (2) 2 0,5 1
Profit Before Income Tax 1,705 1,353 1,708 146
Bank and in Banks
Income for the Year 1,284 1,121 1,288 372
Cash and Cash Equivalents at The End of Year 966 5,184 2,664 2,966
Other comprehensive income for the year, net (4) 51 16 (27)
of tax
Total Comprehensive Income 1,280 1,172 1,304 345
FINANCIAL RATIOS
Income for the Year
Attributable to:
DESCRIPTION 2023 2022 2021 2020
Owners of the parent 1,271 1,109 1,288 372
EBITDA Margin (%) 49.1 48.8 49.6 50.2
Non-controlling interest 13 12 - -
EBIT Margin (%) 13.5 12.5 12.4 2.3
1,284 1,121 1,288 372
Profit for The Year Margin (%) 4.0 3.8 4.8 1.4
Total Comprehensive Income
Net Income Margin (Profit/Loss Ratio to Income/Sales) (%) 1.43 4.81 3.85 3.97
Attributable to:
Return on Invested Capital (%) 5.0 4.9 5.1 1.0
Owners of the parent 1,266 1,160 1,304 345
Return on Assets (%) 1.5 1.4 1.8 0.6
Non-controlling Interest 13 12 - -
Return on Equity (%) 4.9 4.9 6.6 1.9
1,280 1,172 1,304 345
Current Ratio (%) 35.6 39.5 36.9 40.1
Basic and diluted earnings per share (in full 98 105 121 35
amount) Debt to Equity Ratio (x) 0.4 0.5 0.5 0.5
Debt to Asset Ratio (x) 0.1 0.1 0.1 0.1
Debt to EBITDA Ratio (x) 0.6 0.9 0.8 0.7
CONSOLIDATED STATEMENT OF FINANCIAL POSITION Debt to EBITDA Ratio - include Finance Lease (x) 2.9 3.1 2.7 2.6
(In Rp billion) Note:
DESCRIPTION 2023 2022 2021 2020 › Operating Expense = Excluding depreciation and amortization, gain from sales and leaseback of towers, gain/loss from forex
transactions, and others
Total Current Assets 7,173 10,408 7,733 7,571 › EBITDA = Revenue less Operating Expenses
› EBITDA Margin = EBITDA/Gross Revenue
Total Non-Current Assets 80,515 76,869 65,020 60,174
› EBIT = EBITDA Less Depreciation & Amortization
Total Assets 87,688 87,277 72,753 67,745 › EBIT Margin = EBIT/Gross Revenue
› Net Income/(Loss) Margin = Profit (Loss) for the Year/Gross Revenue
Total Current Liabilities 20,142 26,350 20,954 18,857 › Invested Capital = Interest-bearing debt (include finance lease) + Equity - Cash and Cash Equivalents
› Return on Invested Capital = Profit/(Loss) for the Year/Average Invested Capital
Total Non-Current Liabilities 41,041 35,153 31,710 29,751
› Return on Assets = Profit/(Loss) for the Year/Average Total Assets
Total Liabilities 61,183 61,503 52,664 48,608 › Return on Equity = Profit/(Loss) for the Year/Average Total Equity
› Debt to EBITDA Ratio = Interest Bearing Debt/EBITDA
Total Equities 26,505 25,774 20,089 19,137
66 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 67
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
OPERATIONAL HIGHLIGHTS
OPERATIONAL HIGHLIGHTS
EBITDA Margin Total Traffic
(in %) (in Petabyte)
50.2
49.6
9,638
OPERATIONAL DATA 2023 2022 2021 2020
49.1
48.8
Total Traffic (in Petabyte) 9,638 7,991 6,549 4,872
7,991
Number of BTS 160,124 146,023 162,282 144,978
6,549
Total Customers (in million) 57.5 57.5 57.9 57.9
4,872
Total Prepaid Customers (in million) 55.9 56.0 56.6 56.7
Total Postpaid Customers (in million) 1.6 1.5 1.3 1.2
Total Employees 1,966 1,878 1,575 1,614
Efficiency Ratio (%)* 29.2 30.6 36.8 35.9
2020 2021 2022 2023 2020 2021 2022 2023
*Efficiency Ratio = Number of Subscribers/Number of Employees
Gross Revenue EBITDA Number of BTS Total Customers
(In Rp billion) (In Rp billion) (in million)
32,341
162,282
15,885
57.9
57.9
160,124
29,172
14,235
57.5
57.5
26,766
13,287
26,018
13,060
146,023
144,978
2020 2021 2022 2023 2020 2021 2022 2023 2020 2021 2022 2023 2020 2021 2022 2023
68 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 69
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
SHARES HIGHLIGHTS BONDS & SUKUK HIGHLIGHTS
FIXED ANNUAL
INTEREST SECURITIES
TOTAL PRINCIPAL IJARAH SECURITIES SECURITIES
SHARE PRICE MOVEMENTS AND VOLUME 2022-2023 NO TYPES OF SECURITIES
(IDR)
RATE
ALLOWANCE DUE DATE
RATING
RATING
(%) AGENCIES
(IDR)
1. XL Axiata Sustainable Sukuk Ijarah I 260,000,000,000 23,660,000,000 28-04-2024 FITCH RATING AAA
Phase II Year 2017 Series D INDONESIA
3500 6,000,000,000
2. XL Axiata Sustainable Sukuk Ijarah I 336,000,000,000 31,584,000,000 28-04-2027 FITCH RATING AAA
Phase II Year 2017 Series E INDONESIA
3000
5,000,000,000 3. XL Axiata Shelf-Registration Bond I 19,000,000,000 10.1% 16-10-2025 FITCH RATING AAA
Phase I Year 2018 Series D INDONESIA
2500
4,000,000,000 4. XL Axiata Shelf-Registration Bond I 72,000,000,000 10.3% 16-10-2028 FITCH RATING AAA
Phase I Year 2018 Series E INDONESIA
2000
5. XL Axiata Sustainable Sukuk Ijarah II 34,000,000,000 3,434,000,000 16-10-2025 FITCH RATING AAA
3,000,000,000
Phase I Year 2018 Series D INDONESIA
1500
6. XL Axiata Sustainable Sukuk Ijarah II 60,000,000,000 6,180,000,000 16-10-2028 FITCH RATING AAA
2,000,000,000 Phase I Year 2018 Series E INDONESIA
1000
7. XL Axiata Shelf-Registration Bond I 40,000,000,000 9.25% 08-02-2024 FITCH RATING AAA
500 1,000,000,000 Phase II Year 2019 Series C INDONESIA
8. XL Axiata Shelf-Registration Bond I 93,000,000,000 10% 08-02-2029 FITCH RATING AAA
Phase II Year 2019 Series D INDONESIA
0 0
9. XL Axiata Sustainable Sukuk Ijarah II 138,000,000,000 12,765,000,000 08-02-2024 FITCH RATING AAA
January 22
February 22
March 22
April 22
May 22
June 22
July 22
August 22
September 22
October 22
November 22
December 22
January 23
February 23
March 23
April 23
May 23
June 23
July 23
August 23
September 23
October 23
November 23
December 23
Phase II Year 2019 Series C INDONESIA
10. XL Axiata Sustainable Sukuk Ijarah II 15,000,000,000 1,455,000,000 08-02-2026 FITCH RATING AAA
Phase II Year 2019 Series D INDONESIA
11. XL Axiata Sustainable Sukuk Ijarah II 26,000,000,000 2,600,000,000 08-02-2029 FITCH RATING AAA
Phase II Year 2019 Series E INDONESIA
Closing Price Transaction Volume 12. XL Axiata Shelf-Registration Bond II 735,225,000,000 6.75% 01-09-2025 FITCH RATING AAA
Phase I Year 2022 Series A INDONESIA
13. XL Axiata Shelf-Registration Bond II 411,855,000,000 7.40% 01-09-2027 FITCH RATING AAA
Phase I Year 2022 Series B INDONESIA
14. XL Axiata Shelf-Registration Bond II 177,915,000,000 7.90% 01-09-2029 FITCH RATING AAA
Phase I Year 2022 Series C INDONESIA
Shares Performance as of 31 December 2023 & 2022
15. XL Axiata Shelf-Registration Bond II 175,005,000,000 8.25% 01-09-2032 FITCH RATING AAA
Phase I Year 2022 Series D INDONESIA
2023 2022 16. XL Axiata Sustainable Sukuk Ijarah III 680,915,000,000 45,961,762,500 01-09-2025 FITCH RATING AAA
PRICES (RP)
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Phase I Year 2022 Series A INDONESIA
17. XL Axiata Sustainable Sukuk Ijarah III 421,300,000,000 31,176,200,000 01-09-2027 FITCH RATING AAA
Highest 2,410 2,120 2,560 2,440 3,370 3,380 2,780 2,580
Phase I Year 2022 Series B INDONESIA
Lowest 1,870 1,730 1,960 1,895 2,530 2,230 2,210 2,010
18. XL Axiata Sustainable Sukuk Ijarah III 135,135,000,000 10,675,665,000 01-09-2029 FITCH RATING AAA
Closing 1,980 1,955 2,380 2,000 2,650 2,600 2,460 2,140 Phase I Year 2022 Series C INDONESIA
Total Volume 19. XL Axiata Sustainable Sukuk Ijarah III 262,650,000,000 21,668,625,000 01-09-2032 FITCH RATING AAA
1,080,640 1,321,278 1,399,980 1,005,384 987,320 1,610,000 1,410,000 885,030
('000) Phase I Year 2022 Series D INDONESIA
Total Shares, Share Price and Market Capitalization 2022 – 2023
DESCRIPTION 2023 2022
Total Share 13,128,430,665 13,128,430,665
Stock Closing Price (IDR) as of
2,000 2,140
December 31
Market Capitalization (Million Rupiah) 26,256,861 28,094,841
70 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 71
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW
Public Accounting Firm (KAP) Tanudiredja, Wibisana, Rintis & Rekan (Member Firm of PricewaterhouseCoopers
Global Network) has audited the financial statements of PT XL Axiata Tbk and Subsidiary conducted by Auditor
Lok Budianto, S.E., Ak., CPA with Public Accounting Practice License
No. AP.0239 signed on February 9, 2024.
The KAP stated that the consolidated financial statements present fairly, in all material respects, the consolidated
financial performance as of December 31, 2023, and its consolidated financial performance and its consolidated
cash flows for the year then ended. in accordance with Indonesian Financial Accounting Standards.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
The Company’s total assets increased by 0.47% yoy to Rp87.69 trillion as of 31 December 2023 compared to
Rp87.28 trillion in the previous year. The increase was mainly supported by non-current assets which grew by
4.74% yoy to reach Rp80.51 trillion. Meanwhile, total current assets decreased by 31.08% yoy to Rp7.17 trillion.
CORPORATE ACTIONS In terms of liabilities. the Company reported a 0.52% yoy decrease in the total liabilities to Rp61.18 trillion.
This lower figure is in line with a decline in the current liabilities to Rp20.14 trillion, decreased by 23.56% yoy.
Meanwhile, total non-current liabilities increased by 16.75% yoy to Rp41.04 trillion.
Throughout 2023, the Company did not conduct corporate actions such as stock split, reverse stock, stock The Company’s business expansion. which has resulted in a higher profitability, contributed to an increase
dividend, bonus shares, and changes in the nominal share value. retained earnings for the 2023 fiscal year. This was a key factor in the Company’s higher total shareholders’
equity to Rp26.50 trillion, a growth of 2.83% yoy as compared to the previous year.
(In Rp Million)
GROWTH
DESCRIPTION 2023 2022
NOMINAL %
SUSPENSION/DELISTING Total current assets
Total non-current assets
7,173,511
80,514,573
10,408,358
76,869,422
(3,234,847)
3,645,151
(31.08%)
4.74%
Total assets 87,688,084 87,277,780 410,304 0.47%
Total current liabilities 20,141,984 26,350,500 (6,208,516) (23.56%)
Total non-current liabilities 41,041,324 35,153,054 5,888,270 16.75%
The Company reported that there was no temporary suspension of share trading during 2023.
Total liabilities 61,183,308 61,503,554 (320,246) (0.52%)
Total equity 26,504,776 25,774,226 730,550 2.83%
Total liabilities and equity 87,688,084 87,277,780 410,304 0.47%
72 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 73
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
CURRENT ASSETS This increase in fixed assets is in line with the the Company’s commitment to optimally expand its business.
Total current assets reached Rp7.17 trillion in 2023, decreased by 31.08% yoy from Rp10.41 trillion in 2022. This (In Rp Million)
was due to the change in cash and cash equivalents in line with lower debt in 2023. GROWTH
DESCRIPTION 2023 2022
NOMINAL %
Furthermore, other receivables decreased to Rp48.82 billion in 2023, representing a 57.06% yoy decline from
Other receivables 208,537 201,652 6,885 3.41%
Rp113.70 billion in the previous year. The Company’s inventories also declined by 7.42% yoy to Rp377.88 billion
in 2023. Fixed assets 63,890,454 60,473,629 3,416,825 5.65%
Intangible assets 6,453,886 5,988,468 465,418 7.77%
However, amidst the decline in current assets, the Company’s trade receivables posted a significant increase Investment in associate 2,533,736 2,750,218 (216,482) (7.87%)
of 87.73% yoy to Rp1.39 trillion. This higher performance than the previous year’s Rp738.17 billion was mainly Prepayments 44,258 71,151 (26,893) (37.80%)
due to an increase in trade receivables from the domestic parties by 29.17% yoy to Rp854.47 billion in 2023.
Goodwill 6,915,592 6,915,592 - 0.00%
This higher figure is in line with the Company’s increased revenues as the growth of the communication and
information sector outpaced Indonesia’s economic growth that year. Deferred tax assets 6,873 5,779 1,094 18.93%
Other assets 461,237 462,933 (1,696) (0.37%)
(In Rp Million)
Total non-current assets 80,514,573 76,869,422 3,645,151 4.74%
GROWTH
DESCRIPTION 2023 2022
NOMINAL % Furthermore, the higher non-current assets were also influenced by the intangible assets growth at 7.77% yoy
Cash and cash equivalents 966,027 5,184,113 (4,218,086) (81.37%) to Rp6.45 trillion, compared to the previous year’s figure of Rp5.99 trillion
Trade receivables 1,385,785 738,169 647,616 87.73%
Other receivables 48,820 113,700 (64,880) (57.06%)
CURRENT LIABILITIES
Inventories 377,884 408,178 (30,294) (7.42%)
Prepaid taxes 82,694 78,415 4,279 5.46% The Company’s current liabilities reached Rp20.14 trillion. This was a decrease of 23.56% yoy from the previous
Prepayments 4,125,471 3,708,021 417,450 11.26% year’s Rp26.35 trillion. This lower figure was mainly influenced by a 37.02% yoy reduction in the current portion
of long-term loans to Rp6.88 trillion in 2023 from Rp10.92 trillion in the previous year. Loans maturing in 2023
Other assets 186,830 177,762 9,068 5.10%
only reached Rp415.89 billion, much lower than Rp5.34 trillion in the previous year.
Total current assets 7,173,511 10,408,358 (3,234,847) (31.08%)
(In Rp Million)
GROWTH
NON-CURRENT ASSETS DESCRIPTION 2023 2022
NOMINAL %
Current liabilities
The Company posted a 4.74% yoy increase in total non-current assets to Rp80.51 trillion in 2023. The increase
from the previous year of Rp76.89 trillion was mainly influenced by the increase in fixed assets of 5.65% yoy Trade payables 9,382,500 11,337,283 (1,954,783) (17.24%)
from Rp60.47 trillion in 2022 to Rp63.89 trillion in 2023. This is in line with the increase in capital expenditure Taxes payable 187,187 153,724 33,463 21.77%
for directly owned assets of Rp3.30 trillion in 2023. Of this amount, the addition of network equipment reached Accrued expenses 632,905 563,303 69,602 12.36%
Rp3.15 trillion. Deferred revenue 2,704,845 2,944,168 (239,323) (8.13%)
Short-term employee 305,275 367,320 (62,045) (16.89%)
Moreover, the cumulative (gross) right-of-use assets in the form of land, buildings and network equipment
increased by 19.18% yoy to Rp51.89 trillion. Of this amount, the Company recorded the largest increase in Provisions 52,582 65,944 (13,362) (20.26%)
network equipment to Rp8.61 trillion in 2023 from Rp10.03 trillion in the previous year. Finally, the Company Current portion of long-term borrowings 6,876,690 10,918,758 (4,042,068) (37.02%)
also recorded additional fixed assets in the form of fixed assets under construction worth Rp3.50 trillion in Total current liabilities 20,141,984 26,350,500 (6,208,516) (23.56%)
2023. Thereby, the cumulative addition of fixed assets reached Rp15.53 trillion in 2023.
Meanwhile, the Company’s trade payables fell 17.24% yoy from Rp11.34 trillion in 2022 to Rp9.38 trillion in 2023.
The decrease mainly derived from purchase of fixed assets and operational expenditure from third parties
from Rp10.83 trillion in 2022 to Rp8.83 trillion in 2023. Cumulatively, of the total trade payables of Rp9.38
trillion in 2023, the proportion of trade payables in Rupiah is very dominant, reaching 92.90%, while in foreign
currency was only 7.10%.
74 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 75
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
NON-CURRENT LIABILITIES CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
The Company’s non-current liabilities rose by 16.75% yoy from Rp35.15 trillion in 2022 to Rp41.04 trillion
in 2023. This increase was primarily due to a 12.19% yoy increase in the lease liabilities to Rp29.79 trillion
in 2023. This account represents future minimum lease payments together with the present value of the On a cumulative basis, the Company managed to record an increase in profit for the current period of 14.56%
minimum lease payments. yoy to Rp1.28 trillion. The higher performance compared to the previous year of Rp1.12 trillion was mainly
supported by the Company’s Revenue which reached Rp32.32 trillion in 2023, grew 10.91% coupled with cost
(In Rp Million) savings throughout the year.
GROWTH
DESCRIPTION 2023 2022 (In Rp Million)
NOMINAL %
GROWTH
Lease liabilities 29,790,610 26,553,293 3,237,317 12.19% DESCRIPTION 2023 2022
NOMINAL %
Long-term loans 5,609,008 2,411,205 3,197,803 132.62%
Revenues 32,322,651 29,141,994 3,180,657 10.91%
Sukuk ijarah 1,964,422 2,360,826 (396,404) (16.79%)
Expenses
Bonds payable 1,677,304 1,715,691 (38,387) (2.24%)
Depreciation expenses (11,347,758) (10,569,622) (778,136) 7.36%
Deferred revenue 211,840 627,481 (415,641) (66.24%)
Infrastructure expenses (8,995,646) (7,733,947) (1,261,699) 16.31%
Deferred tax liabilities 609,719 532,601 77,118 14.48%
Interconnection and other direct expenses (3,172,220) (2,876,477) (295,743) 10.28%
Long-term employee 239,859 183,025 56,834 31.05%
Sales and marketing expenses (2,454,775) (2,617,998) 163,223 (6.23%)
Contingent consideration 23,113 23,113 - 0.00%
Salaries and employee benefits expenses (1,402,242) (1,325,529) (76,713) 5.79%
Provisions 915,449 745,819 169,630 22.74%
General and administrative expenses (413,040) (352,698) (60,342) 17.11%
Total non-current liabilities 41,041,324 35,153,054 5,888,270 16.75%
Amortisation expenses (157,216) (7,567) (149,649) 1.977.65%
Foreign exchange gain/(loss) - net 12,977 (61,295) 74,272 (121.17%)
Meanwhile, the Company’s long-term borrowings increased by 132.62% yoy to Rp5.61 trillion. The increase Gain from sale and leaseback 424,062 446,805 (22,743) (5.09%)
from Rp2.41 trillion in the previous year was due to loan repayment at the end of 2022.
Others (80,900) (28,807) (52,093) 180.83%
(27,586,758) (25,127,135) (2,459,623) 9.79%
EQUITY 4,735,893 4,014,859 721,034 17.96%
Finance cost (2,939,979) (2,777,385) (162,594) 5.85%
The Company’s equity grew by 2.83% yoy to Rp26.50 trillion. The increase from previous year’s Rp25.77 Finance income 100,096 111,718 (11,622) (10.40%)
trillion was supported by a 9.50% growth in retained earnings from Rp7.55 trillion in 2022 to Rp8.27 trillion
Share of (loss)/profit from associate entity (191,493) 3,838 (195,331) (5.089.40%)
in 2023.
Profit before income tax 1,704,517 1,353,030 351,487 25.98%
(In Rp Million) Income tax expense (420,069) (231,842) (188,227) 81.19%
GROWTH Profit for the year 1,284,448 1,121,188 163,260 14.56%
DESCRIPTION 2023 2022
NOMINAL % Other comprehensive (loss)/ income for the (4,875) 50,482 (55,357) (109.66%)
year after tax
Share capital - authorised capital 1,312,843 1,312,843 - 0.00%
Total comprehensive income 1,279,573 1,171,670 106,316 9.17%
Additional paid-in capital 16,914,496 16,914,496 - 0.00%
Total comprehensive income attributable to 1,266,238 1,159,922 1,587 13.51%
Treasury shares (134,445) (134,445) - 0.00%
owners of the parent
Retained earnings 8,267,467 7,550,252 717,215 9.50%
Total comprehensive income attributable to 13,335 11,748 107,903 9.21%
Non-controlling interest 144,415 131,080 13,335 10.17% non-controlling interest
Total equity 26,504,776 25,774,226 730,550 2.83% Basic and diluted earnings per share 98 105 (7) (6.67%)
These higher retained earnings are supported by better profitability performance in 2023. The Company’s
profitability performance increased through the profit for the year standing at Rp1.28 trillion in 2023 with a
growth of 14.56% yoy. More detailed information on the profitability performance of the Company is explained
in the following Consolidated Statements of Income and Comprehensive Income.
76 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 77
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
Revenues EBITDA CONSOLIDATED STATEMENTS OF CASH FLOWS
The Company’s total revenue grew by 10.91% to Supported by the Company’s increased revenues
Rp32.32 trillion in 2023. Compared to the previous and cost savings in 2023, Earnings Before Interest,
year’s Rp29.14 trillion, this revenue growth was Tax, Depreciation and Amortization (EBITDA) rose Cash Flows from Operating Activities
mainly driven by Data and Digital Services revenue by 11.59% yoy to Rp15.89 trillion in 2023 compared The Company recorded an increase in net cash flow generated from operating activities by 14.12% yoy to
which reached Rp29.40 trillion, growing 10.75% yoy to Rp14.2 trillion in the previous year. Rp16.10 trillion in 2023. Compared to the previous year’s Rp14.10 trillion, this increase was mainly supported by
from the previous year. This condition is in line with higher receipts from customers and other operators of 8.69% yoy to Rp31.48 trillion. On the other hand, the
the growth of the information and communication Profit Before Income Tax Company recorded lower growth in payments to suppliers and other expenses by just 2.94% from Rp13.42
sector which was able to grow 7.59% yoy or The Company’s revenue growth, which is higher than trillion to Rp13.81 trillion in 2023.
outperform Indonesia’s GDP growth of 5.05% yoy in the increase in expenses, has a positive impact on the
2023 (BPS Data 2023). Company’s profit before income tax, stood at Rp1.70 (In Rp Million)
trillion in 2023 with a growth of 25,98% yoy. GROWTH
Meanwhile, the Company’s other revenues from DESCRIPTION 2023 2022
NOMINAL %
interconnection and other telecommunication Profit for The Year and Total
Net cash flows generated from operating activities 16,095,538 14,104,495 1,991,043 14.12%
services also grew 4.76% from Rp1.36 trillion in 2022 Comprehensive Income
to Rp1.43 trillion in 2023. After deducting the income tax expense of Net cash flows used in investing activities (10,376,600) (11,495,464) 1,118,864 (9.73%)
Rp420.07 billion in 2023, the Company was able to Net cash flows used in financing activities (9,935,085) (91,372) (9,843,713) 10.773.23%
Expenses record a profit for the year reaching Rp1.28 trillion Net (decrease)/increase in cash and cash equivalents (4,216,147) 2,517,659 (6,733,806) (267.46%)
Cumulatively, the Company’s expenses increased by with a growth of 14.56% yoy.
Cash and cash equivalents at the beginning of the year 5,184,113 2,664,387 2,519,726 94.57%
9.79% to reach Rp27.59 trillion in 2023. The higher
Effect of exchange rate changes on cash and cash (1,939) 2,067 (4,006) (193.81%)
expenses compared to the previous year of Rp25.13 Furthermore, taking into account other
equivalents
trillion was mainly due to infrastructure expenses, comprehensive income for the period net of tax at
which increased by 16.31% yoy to Rp9.00 trillion. Rp4,87 billion, the Company’s total comprehensive Cash and cash equivalents at the end of the year 966,027 5,184,113 (4,218,086) (81.37%)
A further increase in expenses was recorded in income for the year stood at Rp1.28 trillion in 2023,
interconnection and other direct expenses which rose 9.21% yoy compared to the previous year of
grew by 10.28% yoy to Rp3.17 trillion. Rp1.17 trillion.
Cash Flows from Investing Activities trillion in 2023 compared to Rp4.74 trillion in the
Salaries and employee benefits expenses also Meanwhile, basic and diluted net profit per share Compared to 2022, the Company recorded lower previous year. Similar increases were recorded by
increased by 5.79% yoy to Rp1.40 trillion in 2023 was Rp98 in 2023 as compared to Rp105 in 2022. net cash flows used in investing activities in 2023 payments for lease liabilities principal and payments
compared to Rp1.33 trillion in the previous year. An amounting to Rp10.38 trillion. The decrease of of lease liabilities interest by 3.96% yoy and 35.46%
increase was also seen in depreciation expenses, 9.73% yoy compared to the previous year’s Rp11.50 yoy respectively to Rp4.33 trillion and Rp2.39 trillion
from Rp10.57 trillion in the previous year to Rp11.35 trillion was influenced by zero acquisitions of new in 2023.
trillion in 2023. subsidiaries and associated companies in 2023.
However, the Company recorded a realized capital Cash and Cash Equivalents at the End of
However, amidst this increase in expenses, the expenditure for the acquisition of fixed assets the Year
Company was able to record efficiency in sales and amounting to Rp10.42 trillion or a 18.04% yoy Cumulatively, the Company reported net decrease in
marketing expenses, which were reduced by 6.23% increase as compared to Rp8.83 trillion in 2022. This cash and cash equivalents of Rp4.22 trillion in 2023.
yoy to Rp2.45 trillion in 2023. is a reflection of the Company’s strategy to sustain a However, backed by cash and cash equivalents
calculated business expansion in 2023. of Rp5.18 trillion at the beginning of the year,
the Company managed to record cash and cash
Cash Flows from Financing Activities equivalents of Rp966.03 billion at the end of 2023
The Company recorded a significant increase in as compared to Rp5.18 trillion in the previous year.
the net cash flows used in from financing activities.
which reached Rp9.93 trillion in 2023. This was due
to increased repayment of long-term loans to Rp5.18
78 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 79
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
FINANCIAL RATIO SOLVENCY In addition to the issuance of bonds, the Company
has also obtained loans from various leading banks,
The Company measures its financial performance over the past two years using various financial ratios as From an external perspective, the Company’s very which demonstrates the Company’s high flexibility in
follows: strong debt capacity is supported by the affirmation obtaining financing and verified sources of financing
of ratings and revision of outlook by PT Fitch Ratings with optimal interest rates. Purpose of the borrowings
DESCRIPTION 2023 2022 Indonesia in 2023 as follows: is for working capital, capital expenditure, business
development and general purposes.
Return on Invested Capital (ROIC) (%) 5.0% 4.9%
› National Long-Term Rating at ‘AAA(idn)’ with
Return on Assets (ROA) (%) 1.5% 1.4%
Outlook to Negative from Stable The Company’s track record in fulfilling bank loans is
Return on Equity (ROE) (%) 4.9% 4.9% › National Long-Term Rating ‘AAA(idn)’ for XL also evidenced by its ability to comply with various
Current Ratio (%) 35.6% 39.5% Axiata’s Shelf-Registered Bond Program II covenants, such as limitations on certain asset sales
Debt to Equity Ratio (X) 0.4 0.5 › National Long-Term Rating ‘AAA(idn)’ for XL or transfers, maintaining the majority ownership of
Axiata’s Sustainable Sukuk Ijarah Program III the Group’s shares directly or indirectly by Axiata
Debt to Asset Ratio (X) 0.1 0.1
› National Long-Term Rating ‘AAA(idn)’ for XL Group Berhad and maintaining its debt to Earnings
Debt to EBITDA Ratio (X) 0.6 0.9
Axiata Sustainable Bonds I Phase I and Phase II before Interest Tax Depreciation and Amortisation
Debt to EBITDA Ratio – including Finance Lease 2.9 3.1 › National Long-Term Rating ‘AAA(idn)’ for XL (“EBITDA”) ratio not to exceed 4.5.
Axiata Sustainable Bonds II Phase I
› National Long-Term Rating ‘AAA(idn)’ for XL
LIQUIDITY Axiata Sustainable Sukuk Ijarah Phase I and RECEIVABLES COLLECTABILITY
Phase II
The Company’s liquidity is measured using current ratio, quick ratio and cash ratio to measure ability to meet › National Long-Term Rating ‘AAA(idn)’ for XL The collectability of the Company’s receivables
short-term obligations as shown below: Axiata Shelf-Registered Sukuk Ijarah II Phase I is managed through the establishment of strong
and Phase II strategic partnerships with related and third
DESCRIPTION 2023 2022 › National Long-Term ‘AAA(idn)’ Rating for XL parties. The Company also maintains an allowance
Axiata Phase I Sustainable Sukuk Ijarah III for doubtful accounts. In this case, management
Current Ratio 35.6% 39.5%
believes that the provision for receivables
Quick Ratio 33.7% 38.0%
Meanwhile, internally, the ability to pay all obligations impairment is adequate to cover losses from
Cash Ratio 4.8% 19.7% is measured by two financial ratios, namely, the uncollectible accounts based on the review of
debt to equity ratio and the debt to asset ratio, as the status of the individual and collective trade
explained in the previous table. receivables at the end of the period.
Considering the characteristics of the Company The Company always upholds the principle of
within the infrastructure sector of the prudence in maintaining liquidity, both short term
telecommunications industry which is highly capital and long term. The structure of the Company’s short-
intensive, the Company requires capital expenditures term liabilities is mainly in the form of third-party
for expansions such as the network and data debt, which the Company uses to carry out business
infrastructure to reach all regions of Indonesia, the expansion, which has resulted in the generation of
composition of assets in the form of fixed assets is operating income with an increasing trend over the
very dominant. This affects the Company’s liquidity past five years. Supported by these conditions, the
ratio achievement, namely current ratio, quick ratio Company has a good track record in paying interest,
and cash ratio. which increases the value of the Company in the
eyes of creditors as stakeholders.
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
The following table shows the age of the Company’s trade receivables and its efforts to manage trade receivables. MATERIAL COMMITMENTS FOR CAPITAL EXPENDITURES
(In Rp Million) The Company makes capital expenditures each year to expand its business. An explanation of material
GROWTH relationships related to capital expenditure is as follows:
DESCRIPTION 2023 2022 › The Company cooperates with various parties including PT Huawei Tech Investment, PT Alita Praya Mitra
NOMINAL %
and PT Ericsson Indonesia,
Not past due 558,258 162,866 395,392 242.77%
› The Company entered into this engagement to provide communication equipment.
Past due: › The Company uses internal funding sources from operating results for capital expenditure commitments.
Overdue < 30 day 198,649 113,815 84,834 74.54% › Capital expenditures are denominated in Rupiah and U.S. dollars.
Overdue 31 - 60 days 56,686 34,153 22,533 65.98% › Measures to protect the risk of related foreign currency positions are that the majority of the Company’s
Overdue > 60 days 329,147 487,741 (158,594) (32.52%)
transactions are in Rupiah according to the monetary position of liabilities in a given period in USD, only
about 5% of the Company’s total debt.
Subtotal 584,482 635,709 (51,227) (8.06%)
Provision for receivables impairment (272,636) (307,018) 34,382 (11.20%) More detailed information on purchase, maintenance and installation agreements with a number of parties can
Total receivables – net 870,104 491,557 378,547 77.01% be found in Note No. 32 “Significant Agreements” of the audited financial statements included in this annual
report.
CAPITAL STRUCTURE AND CAPITAL STRUCTURE POLICY
ACTUAL CAPITAL EXPENDITURES
Capital Structure Management Policy
The Company’s objective in managing capital is to manage an optimal capital structure to effectively minimize The realization of capital expenditures recorded by the Company throughout 2023 reached Rp15.53 trillion.
the cost of capital and to protect capital while maintaining business continuity so that the Company can These investments are aimed at supporting business expansion in the telecommunications sector. More detailed
continue to provide returns to shareholders and benefits to other stakeholders. The Company may adjust total information on the realization of capital expenditures in the year 2023 can be found in the table below:
dividends, issue new shares or increase/decrease the amount of debt in order to manage the capital structure.
(In Rp Million)
To achieve this goal, the Company’s Board of Directors and the Board of Commissioners will conduct an annual DESCRIPTION 2023 2022
review to ensure that the Company’s capital structure and debt align with the Company’s strategic objectives
Direct ownership of assets:
and the risk appetite determined by the Company.
Land
Buildings 4 1,248
Certain requirements relating to borrowings and the Company’s compliance with these requirements have
Network equipment 3,154,046 3,718,546
been described above.
Leasehold improvements 2,019 480
Machinery and equipment 123,753 224,379
Capital Structure
Furniture and fixtures 1,265 291
The Company’s capital structure consists of interest-bearing debt and equity. Interest-based debt consists of
lease obligations, loans, Sukuk Ijarah and bonds payable as set out in the table below: Support systems 15,646 150,147
Motor vehicles 1,410 1,422
(In Rp Million) Sub-Total 3,298,143 4,096,513
GROWTH Right-of-use assets:
DESCRIPTION 2023 2022 Land 78,670 54,395
NOMINAL %
Buildings 45,191 6,298
Lease liabilities 35,813,446 31,849,858 3,963,588 12.44%
Network equipment under construction 8,612,777 10,027,339
Long-term loans 6,024,900 7,753,650 (1,728,750) (22.30%)
Sub-Total 8,736,638 10,088,032
Sukuk ijarah 2,362,387 2,509,695 (147,308) (5.87%) Fixed assets 3,497,223 4,966,108
Bonds payable 1,717,301 1,846,570 (129,269) (7.00%) Sub-Total 3,497,223 4,966,108
Total Capital from Interest-Based Debt 45,918,034 43,959,773 1,958,261 4.45% Total 15,532,004 19,150,653
Total Equity 26,504,776 25,774,226 730,550 2.83%
Total Capital 72,422,810 69,733,999 2,648,811 3.80%
Cumulatively, the Company’s capital structure remains dominated by interest-bearing debt with 63.40%
compared to 36.60% equity in 2023. In the previous year, the proportions of the two capital components
were 63.04% and 36.96%, respectively.
82 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 83
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
SUBSEQUENT EVENTS REALIZATION OF PROCEEDS FROM INITIAL PUBLIC OFFERING
The Company’s audited financial report for the period ending December 31, 2023 reports that there are no To comply with the Financial Services Authority Regulation No. 30/POJK.04/2015 concerning the Realization
material information or facts that have occurred after the date of the auditor’s report. Report on the Use of Public Offering Proceeds, the Company submitted a Report on the Realization of the Use
of Public Offering Proceeds, as follows:
2023 TARGETS AND ACHIEVEMENTS AND 2024 PROJECTION 1. Reporting to OJK on 12 January 2023
Public Offering of Shelf-Registration Bonds II Phase I Year 2022 and Sukuk ljarah Phase I Year 2022 as of
The Company has set goals for 2023 guided by the 2023 Company Work Plan and Budget (RKAP). The December 31, 2022.
implementation of the 2023 RKAP as well as the projections for the year 2024 are explained in the
following table: All funds obtained from the Public Offering of Shelf-Registration Bonds II Phase I Year 2022 and Sukuk
ljarah Phase I Year 2022 as of 31 December 2022 have been fully utilized.
FINANCIAL INDICATORS 2023 TARGETS 2023 ACTUAL 2024 PROJECTION
(in million rupiah)
Revenue Growth High single digit 10.9% High single digit
REALIZATION
PLAN OF USE
EBITDA Margin Around 49% 49.1% Around 50% REALIZATION VALUE OF PUBLIC OF FUNDS
OF THE USE
OF FUNDS
OFFERING RESULTS ACCORDING TO
Capital Expenditure About Rp8 trillion 7,2Tn Around Rp8 trillion THE PROSPECTUS
ACCORDING TO
THE PROSPECTUS
REMAINING
TYPES OF PUBLIC EFFECTIVE CAPITAL CAPITAL PUBLIC
NO. EXPENDITURE EXPENDITURE
OFFERINGS DATE OFFERING
DIVIDENDS AND DIVIDEND taking into account the considerations of the Board
TOTAL
PUBLIC
PUBLIC
OFFERING
NET
TO INCREASE
CAPACITY AND
TO INCREASE
CAPACITY AND
PROCEEDS
POLICY of Directors, and according to the applicable laws OFFERING
PROCEEDS
FEES
RESULTS EXPAND NETWORK
AS WELL AS
EXPAND NETWORK
AS WELL AS
and regulations. IMPROVE SERVICE IMPROVE SERVICE
QUALITY QUALITY
Dividend Policy Dividend Payment 1 2 3 4 5 6 7 8 9
XL Axiata’s Dividend Policy was approved by the The General Meeting of the Shareholders on 5 May 1 Sustainable 22 1,500,000 6,684 1,493,316 1,493,316 1,493,316 –
Public Offering of August
Board of Commissioners through the Board of 2023 approved the distribution of a cash dividend
Shelf-Registration 2022
Commissioners Meeting No. 1/11 dated January of Rp 42 (full amount Rupiah) per share or totalling Bonds II Phase I
28, 2011 and communicated to Shareholders at Rp 549,023 relating to the 2022 financial year. The Year 2022
the General Meeting of Shareholders held on April entire amount was fully paid in May 2023. 2 Sustainable 22 1,500,000 6,164 1,493,836 1,493,836 1,493,836 –
14, 2011. XL Axiata will distribute dividends to Public Offering of August
shareholders of at least 30% of the previous year’s The General Meeting of the Shareholders on 22 April Sustainable Sukuk 2022
normalized net profit, with the aim of gradually 2022 approved the distribution of a cash dividend ljarah Ill Phase I
Year 2022
increasing the payout ratio in the future. The dividend of Rp51 (full amount Rupiah) per share or totalling
payment also depends on the Company’s capital Rp544,078 relating to the 2021 financial year. The Total 3,000,000 12,848 2,987,152 2,987,152 2,987,152 –
adequacy, financial condition and other matters, entire amount was fully paid in May 2022.
2. Reporting to OJK on January 20, 2023
Capital Increase by Providing Preemptive Rights III (PMHMETD III) Year 2022 as of 31 December 2022.
All funds obtained from the Public Offering of Capital Increase by Granting Preemptive Rights III (PMHMETD
III) Year 2022 as of 31 December 2022 have been partially used in accordance with the purpose of using
funds in PMHMETD III.
84 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 85
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
(in million rupiah)
MATERIAL TRANSACTIONS CONTAINING CONFLICTS OF INTEREST
PLAN OF USE REALIZATION OF
REALIZATION VALUE OF PUBLIC
OFFERING RESULTS
OF FUNDS
ACCORDING TO
THE USE OF FUNDS
ACCORDING TO
AND/OR TRANSACTIONS WITH AFFILIATED PARTIES
REMAINING
TYPES OF THE PROSPECTUS THE PROSPECTUS
EFFECTIVE PUBLIC
NO. PUBLIC
DATE TOTAL SETTLING AND/OR SETTLING AND/OR OFFERING
OFFERINGS
PUBLIC
PUBLIC
NET PARTIALLY SETTLING PARTIALLY SETTLING PROCEEDS The Company did not enter into any material transactions involving a conflict of interest during the period
OFFERING
OFFERING RESULTS THE COMPANY’S THE COMPANY’S ended 31 December 2023.
FEES
PROCEEDS DEBT DEBT
1 2 3 4 5 6 7 8 9
Transactions with Affiliates/Related Parties
1 Capital 6 4,999,812 58,509 4,941,304 4,941,304 3,000,000 1,941,304
The Group enters into transactions with related parties as defined in PSAK 7 “Related Party Disclosures”.
Increase by December
Granting 2022
The transactions with related parties are made under the same terms and conditions as those made with
Preemptive third parties.
Rights III
(PMHMETDIII) The natures of transactions and relationships with related parties are as follows:
Year 2022
Total 4,999,812 58,509 4,941,304 4,941,304 3,000,000 1,941,304
NATURE OF THE RELATIONSHIPS
RELATED PARTIES NATURE OF TRANSACTIONS
WITH RELATED PARTIES
Axiata Group Berhad Ultimate parent entity Reimbursement of expenses and professional
3. Reporting to OJK on 5 July 2023 services
Capital Increase by Providing Preemptive Rights Ill (PMHMETD Ill) Year 2022 as of 30 June 2023.
Axiata Investment Immadiate parent entity Reimbursement of expenses and professional
(Indonesia) Sdn. Bhd. services
All funds obtained from the Public Offering of Capital Increase by Granting Preemptive Rights Ill
(PMHMETD Ill) Year 2022 as of 30 June 2023 have been fully utilized in accordance with the purpose Dialog Axiata PLC. (Sri Lanka) Entity under common control International and other direct expenses
of using funds at PMHMETD Ill. Smart Axiata Co., Ltd Entity under common control International roaming revenue and
(Cambodia) interconnection expenses
(in million rupiah) (previously known as Hello
PLAN OF USE
REALIZATION Axiata Company Limited
OF THE USE
REALIZATION VALUE OF PUBLIC OFFERING OF FUNDS
OF FUNDS
(Cambodia))
RESULTS ACCORDING TO REMAINING
TYPES OF ACCORDING TO
EFFECTIVE THE PROSPECTUS PUBLIC Robi Axiata Limited Entity under common control International roaming revenue and
NO. PUBLIC THE PROSPECTUS
DATE OFFERING
OFFERINGS SETTLING AND/ SETTLING AND/
(Bangladesh) interconnection expenses
TOTAL PUBLIC PUBLIC PROCEEDS
OR PARTIALLY OR PARTIALLY
OFFERING OFFERING NET RESULTS Board of Commissioners and Key management of the Group Compensation and remuneration
SETTLING THE SETTLING THE
PROCEEDS FEES
COMPANY’S DEBT COMPANY’S DEBT Directors
1 2 3 4 5 6 7 8 9
PT Bank CIMB Niaga Tbk Entity under common control Cash in banks, time deposits and interest income
1 Capital 6 4,999,812 58,509 4,941,304 4,941,304 4,941,304 –
Addition by December PT Axiata Digital Analystics Entity under common control Remibursement of expenses, Mobile advertsiting
Issuing Rights 2022 Indonesia business revenue and expenses
Pre-emptive Ill
Celcom Axiata Berhad* Entity under common control VoIP Revenue, International roaming revenue and
(PMHMETD Ill)
reimbursement of expense
Year 2022
Total 4,999,812 58,509 4,941,304 4,941,304 4,941,304 – Axiata Managaement Service Entity under common control Reimbursement of expenses and professional
Sdn. Bhd. services
Apigate Sdn. Bhd. Entity under common control Payment gateway services
Axiata Business Service Sdn. Entity under common control Reimbursement of expenses and professional
Bhd. services
PT ADA Asia Indonesia Entity under common control Reimbursement of expenses and lease of space
PT Axiata Digital Labs Indonesia Entity under common control Reimbursement of expenses and network system
develompment
PT Princenton Digital Group Associate Reimbursement of expanses and rack server
Data Centers rental expense
86 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 87
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
FINANCIAL REVIEW FINANCIAL REVIEW
NATURE OF THE RELATIONSHIPS REGULATION ISSUE DATE IMPACT ON THE COMPANY
RELATED PARTIES NATURE OF TRANSACTIONS
WITH RELATED PARTIES
Government Regulation No. 43 of 2023 19 September 2023 › Non-compliance with certain regulatory
Ncell Axiata Limited Entity under common control International roaming revenue on the Types and Rates of Non-Tax State parameters related to business activities in the
PT Edotco Infrastruktur Entity under common control Sale and lease tower and land lease Revenue Applicable to the Ministry of telecommunications sector will result in a fine
Indonesia Communication and Informatics. of a specific amount.
› In the selection/tender process for the use of
PT Link Net Tbk Entity under common control Wired network and Internet access services frequency spectrum, the winning Operator
may, by ministerial decision, be allowed to:
All material transactions and balances with related parties are disclosed in note 29 to the audited consolidated - pay a lower initial license fee and
financial statements for the year ended 31 December 2023. annual Frequency Spectrum Usage
Fee (IPFR) than previously stipulated,
- pay the annual IPFR in installments,
TRANSACTION RELATED TO INVESTMENTS, EXPANSION, - receive a discount factor if there is
DIVESTMENTS, MERGERS, ACQUISITION, AND RESTRUCTING compensation to be paid to previous
users and/or there are additional
obligations to build.
The Company did not conduct transactions related to investment, expansion, divestment, merger, acquisition, › Operators can propose that the selection/
and restructuring throughout 2023. tender process be conducted using a beauty
contest mechanism.
REGULATORY CHANGES THAT IMPACTED THE COMPANY Minister of Communication and 14 September 2023 Reaffirmation and strengthening to the Company
Informatics Instruction No. 1 of 2023 on to not facilitate the dissemination of Electronic
The table below provides an overview of the changes to the law that will take effect in 2023 and their impact the Eradication of Online Gambling and/ Information and Electronic Documents that are
on the Company: or Slot Gambling. prohibited, especially those related to online
gambling and/or slot gambling, which requires
additional investment from the Company to
Tabel berikut menjelaskan perubahan ketentuan peraturan perundang-undangan yang terjadi di 2023 dan comply with this.
dampaknya terhadap Perseroan: Circular Letter of the Minister of 21 August 2023 Reaffirmation from the Government regarding
Communication and Informatics No. 6 of the need for a Business Continuity Plan (BCP) for
REGULATION ISSUE DATE IMPACT ON THE COMPANY 2023 on the Implementation of Business Private Electronic System Operators, which the
Continuity Management System for Company is currently implementing.
Law No. 4 Year 2023 on Development 12 January 2023 To adjust information disclosure according to the Private Electronic System Operators.
and Strengthening of the Financial applicable Regulation.
Sector
Law No. 6 of 2023 on the Ratification of 31 March 32023 Essentially, the impact is the same as when the
Government Regulation in Lieu of Law Government Regulation in Lieu of Law No. 2 CHANGES TO THE ACCOUNTING STANDARDS
No. 2 of 2022 on Job Creation into Law. of 2022 on Job Creation was enacted into law,
including on the labour sector, telecommunications,
The following revised accounting standards, which are relevant to the Group, are effective from 1 January 2023
and business activity licensing.
and do not result in material impact to the Group’s consolidated financial statements:
Government Regulation No. 10 of 2023 27 February 2023 The Company, as a Telecommunications › Amendment to SFAS 1 “Presentation of Financial Statements”
on the Types and Rates of Non-Tax State Operator, is required to conduct verification of › Amendment to SFAS 16 “Fixed Assets”
Revenue Applicable to the Ministry of prepaid customer registrations in accordance › Amendment to SFAS 25 “Accounting Policies, Changes in Accounting Estimates and Errors”
Home Affairs. with telecommunications regulations. On the › Amendment to SFAS 46 “Income Tax”
other hand, based on this regulation, web-based
population data verification is subject to a fee
with a certain value, which results in an additional
burden of regulatory charges.
88 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 89
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
CONSUMER
CONSUMER
Our strategy to strengthen
our position in the market
will continue to be based on best-in-
PERFORMANCE OVERVIEW
class digital experience, advanced
data analysis and optimised granular DESCRIPTION 2023 2022 2021
pricing tailored to each customer. Prepaid Customers 55.9 million 56.0 million 56.6 million
We will continue to bring innovative Postpaid Customers 1.6 million 1.5 million 1.3 million
products and services to stay ahead Total Customers 57.5 million 57.5 million 57.9 million
of the market and retain our strong Prepaid ARPU 40,000 37,000 35,000
share of the market. Postpaid ARPU 90,000 96,000 107,000
Combined ARPU 41,000 39,000 36,000
4G Data users 94.6% 93% 88.5%
STRATEGY OBJECTIVES become more innovative and XL Axiata apart from its the Company’s jump in online
agile in adapting to the market competitors. The Company acquisition was successfully
Throughout 2023, the Company conditions and continue to continued to develop SiDompul, driven by the onboarding
saw the opportunity to achieve deliver results in line with the the digital distribution app to e-Sim users.
DAVID a more profitable growth in business targets that have been increase the effectiveness of
ARCELUS OSES the Mobile Consumer segment,
driven by optimization in
set. sales on the ground for dealers
and retailers. As a result, the
XL Axiata maintained dual-
brand strategy to cater to two
pricing, digitalization and In general, throughout the Company has seen higher a strong segments of XL and
DIRECTOR & CHIEF
overall elevation in customer year, digitalization was a key revenue shift towards digital AXIS. While the prepaid XL
COMMERCIAL OFFICER
experience. At the same time, element in the success of XL and direct channels, which has brand has kept its strength in
– CONSUMER
the Company remained mindful Axiata’s business growth. XL also contributed in the decline the family segment through
of all challenges that persist, Axiata has been able to deliver in sales and marketing costs, various packages that could be
such as macroeconomic personalized experiences and in line with the achievement shared with the whole family,
turbulence that could affect data-driven granular pricing of the Company’s improved the premium service, XL
the spending power of its strategy tailored to each cost management. In the spirit Prioritas has also seen immense
customers. It was important customerthrough myXL and of digitalization, in 2023, the progress with subscribers
for the Company to monitor AXISnet apps as the best- Company has also introduced now surpassing 1 million
price elasticity that could affect in-class digital touchpoints. e-Sim to eliminate the need users. Among the younger
consumption of mobile data The Company was also able of a physical sim card and demographic, AXIS brand has
and services. These challenges, to optimize customer value provide a more seamless also performed very well as a
however, drove XL Axiata to in different regions, setting experience. Throughout 2023, result of the Company’s ever-
90 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 91
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
CONSUMER CONSUMER
growing engagements with to the Company, therefore XL introduced the Teng Go are currently popular amongst OUTLOOK
the youth community. Youth Axiata continued to design offer, a time-based internet youths. AXISELEB managed to
segment indeed continues to attractive offerings to answer quota that can be used for gain over 4,000 submissions. As the organization solidifies
grow significantly, given their the needs of its loyal customers. streaming on popular apps at These programs have helped its position in the convergence
strong digital engagement, Amongst these is a year- an affordable price, controlled to strengthen the AXIS brand space, XL Axiata will maintain
XL Axiata largely through gaming and long double quota bonus for through AXISnet. Teng-Go positioning within the youth its strong position in the
successfully drove social interactions. purchases and activations of XL accommodated the need of segment family segment of the mobile
Xtra Combo Flex prepaid cards AXIS’ young subscribers to have market and retain its quality
the adoption of All of our strategies were that was launched early in 2023. flexibility in accessing content. Aside from designated programs subscribers in order to further
digital services to aligned to support XL Axiata’s Later in the year, XL released for each XL and AXIS brands, push the transition to our
vision to be Indonesia’s leading the “Star Series” data package Beyond that, XL Axiata the Company also created converged product of both
customers through converged operator. to cater for the majority of data increased engagement with programs across brands, such mobile and fixed internet. This
the myXL and content access of our prepaid the youth segment and AXIS as special offers during major move, coupled with further
AXISnet apps, PERFORMANCE customers, which are beauty customers. The Company celebrations such as Indonesia’s monetization strategies, will be
SUMMARY lifestyle, music, online games hosted the largest futsal Independence Day and XL critical in driving sustainable
which currently and culinary. The promotional tournament in Indonesia, Axiata anniversary, along growth in the Consumer
meet the needs Now catering to 57.5 million event, “We Are More Project AXIS Nation Cup 2023, which with film streaming through segment throughout 2024
subscribers in Indonesia, XL 2023” was organised in seven was participated by 1,200 partnership with CATCHPLAY+ and beyond. Improvement in
of more than 29 Axiata has kept strong revenue cities to bring the Star Series schools from 30 cities across that subscribers across brands profitability will also continue,
million users, or growth ahead of the industry package closer to customers. Indonesia. XL Axiata recorded can access through myXL and supported by the Company’s
average and has maintained over 100 thousand spectators AXISnet apps. further comprehensive
more than half of a solid market share. The In the postpaid segment, XL throughout the tournament’s digitalization along with the
the total mobile Company successfully engaged Axiata offered the exclusive the preliminary rounds. The positive results in the optimization of sales channels.
subscribers. This its customers digitally through opportunity to place pre-orders Consumer segment throughout
our myXL and AXISnet apps on the latest Samsung Galaxy Aside from sports, XL Axiata 2023 was also attributed to the XL Axiata will continue to
figure has almost that serve more than 29 million S23 5G Series through the also organised AXISLABS success in driving monetisation position itself as a leading
doubled in the last users, or more than half of the subscribtion to myPRIO DEAL. 2023 for college students to along with quality subscriber provider of innovative products
total mobile subscribers. This This offer was also aligned with develop and execute their acquisitions. XL Axiata noted while providing top-of-the-
two years. number has almost doubled in the Company’s commitment to ideas, turning creative concepts improvements in various metrics class customer experience.
the past two years. XL Axiata’s supporting the development of into innovative products. such as profitability increase,
net promoter score (NPS) has the 5G ecosystem. XL Axiata Held from May to November higher ARPU, sustained
also improved significantly in also entered into a strategic 2023, AXISLABS 2023 had quality subscriber growth and
2023. partnership with one of over 2,000 participants. increased data traffic. Moreover,
Indonesia’s largest banks, BNI to To further showcase youth with convergence initiatives
In addition to the digital launch a co-branding credit card talents, throughout November XL Axiata also aimed to keep
touchpoints, the Company BNI-XL Prioritas in December the Company held AXISELEB strengthening its market
maintained XL AXIS physical 2023. Post-paid customers are 2023, where participants could share to maintain business
Service Points totalling 100 also now entitled to be part of show off various talents such sustainability and serve more of
points in 70 cities across the PRIO Club – a new loyalty as singing and dancing, which the Indonesian community.
Indonesia. The service points initiative launched also in
are necessary to provide in- December 2023. All post-paid
person assistance to customers customers are automatically
for various needs such as registered in PRIO Club and
subscription reactivation eligible to special benefits
or service upgrading to XL according to their subscription
Prioritas amongst others, of either Silver, Gold, Platinum,
including as points of sales. Diamond, and Ultima plan.
Customers’ satisfaction has To further increase growth of
always been a huge priority the AXIS brand, the Company
92 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 93
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
HOME &
HOME & CONVERGENCE
CONVERGENCE
2023 marks a major milestone for
Home and Convergence, as we have
begun to harvest on our investments
and achieved exceptional results in Home
subscribers and Convergence penetration.
We doubled the number of homes passed,
homes connected, conversion to XL
Satu, and NPS. Through our converged PERFORMANCE OVERVIEW
offerings, XL Axiata has been able to
create a difference in customer experience GROWTH
DESCRIPTION 2023 2022 2021 2023-2022
with features that are still unmatched in %
the industry. The Company’s head start
XL Home Customers 235,000 123,000 95,000 91% YTD
in convergence has ultimately delivered
stronger customer lifetime value, resulting XL Satu (Mobile & Fixed
177,000 46,000 10,000 -
Internet) Customers
in stronger financial metrics that will
increase shareholder value. Convergence Penetration 75% 37% 11% +38% YTD
STRATEGY OBJECTIVES XL Axiata strengthened the also boasts its converged competitive market, these
ABHIJIT J. position of its FMC product, fixed wireless access product, factors are critical to service
NAVALEKAR The fixed-mobile convergence
(FMC) market expanded further
XL Satu which provides
seamless, super-fast internet
XL Satu Lite, which provides
super fast internet service with
providers’ competitive
advantages. The penetration of
in 2023, with new players service supported by cutting- wireless broadband technology convergence services is further
DIRECTOR &
entering the market. This edge fiber optic technology. and shared mobile quotas. propped by the Company’s
CHIEF COMMERCIAL
trend was a testament to XL Customers can choose from ever-growing presence in
OFFICER – HOME &
Axiata’s strategy of being the Value, Smart, Family, Super The Company leverages on Indonesia, owing to strong
CONVERGENCE
first to introduce the offering, User, and Ultimate packages strong data analytics, which sales and distribution network
which also served to familiarize with varying broadband offer precise and detailed and a powerful brand presence.
the public with the values of internet speeds paired with information on potential areas, With time, the XL Satu brand
FMC products. Meanwhile, shared mobile quota based on to boost penetration. When has grown more solid, and the
the fixed broad band (FBB) their individual needs. Packages entering a market, the Company Company sets out strict service
market in Indonesia remained include speed boosters for the brings compelling product and level agreement to maintain
underserved, which we aimed to first six months of subscription service proposition, consistent customers’ trust.
address through differentiated as an introductory offer to connection quality, and relevant
strategies. new subscribers. The Company content. In an increasingly
94 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 95
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
HOME & CONVERGENCE HOME & CONVERGENCE
The Home and Convergence each household and driving Axiata achieved a staggering our presence to 86 cities across with its aim of promoting
businesses focused on laying customers’ preference by 75% FMC adoption in XL Home Indonesia. For its excellence, XL digitalisation within society
the groundwork for XL Satu integrating with top digital subscribers as of the end of Home was named Broadband and contributing to the
to scale at a rapid pace. We service partners. 2023. The prevalence of FBB Telecom Company of the Year - nation’s growth and digital
accomplished this by creating networks has also grown, with Indonesia and Marketing Brand transformation. The Company
XL Axiata was a powerful analytics-based The accomplishments of Home an emphasis on locations with and Initiative of the Year - will continue its innovation in
able to accelerate deployment architecture that and Convergence business high mobile and residential Indonesia at the Asian Telecom sales, operations, content, as
optimized deployment strategy, in 2023 were attributable to potential, as identified by data- Awards in Singapore. The XL well as its network expansion.
the acquisition of allowing for faster penetration. the teams of people. Their driven area targeting. Home initiatives were recognized
fixed broadband The Company also stressed its experience and dedication for their uniqueness and XL Axiata also aspires to be an
allowed XL Axiata to keep
customers while goal of increasing efficiency
customers’ satisfaction high
XL Home has excelled in order to innovation, effectiveness, impact,
and dynamic development.
ecosystem enabler for families
through strong operational continue delivering high-speed and set the standard for other
significantly insights, converging distribution and to grow sustainably. access to residential customers. players in the market. As the
increasing skills between mobile and This was consistent with the Digitalization was a major factor FMC market and familiarity
home, and advancing sales and PERFORMANCE Company’s goal of delivering in the development of the Home among the Indonesian
convergence operational digitization. OVERVIEW the XL Satu convergence and Convergence business in community grows, a spike in
penetration. proposition with benefits for 2023. Customer onboarding is market penetration for XL Satu
The Company began focusing on The initiatives outlined above families, ease of management, now more efficient thanks to a is expected. Furthermore, by
organizational transformation have enabled the Company to and comprehensive digital digitized sales and operations tapping into synergies and
toward convergence from the achieve outstanding outcomes journeys. XL Axiata noticed platform. The sales staff was able partnerships, XL Axiata will
beginning of 2023. For a faster in accordance with its goal higher customer stickiness and to speed up acquisitions with be well-poised to become
time to market, the Company of being Indonesia’s leading lower churn rates as a result simplicity and efficiency by using Indonesia’s premier broadband
created a strong network of convergence operator. 2023 of our convergence products digitized sales tools. service provider, offering best-
converged customer-facing marks a landmark year for the for both fixed broadband in-class services to millions of
units through a vast network of Company’s FMC ambitions, seen and mobile. The product’s Furthermore, the Company Indonesian homes.
retail touchpoints and effective through the exponential growth contribution to the Company’s attributes its increase in FMC
sales force. This maintained of its flagship product, XL Satu. revenue has also increased. and FBB presence to the synergy In the future, the Company
XL Axiata to be the market’s The total customer experience This confirmed that customers with Link Net. The two companies will assure not only the
most prepared organization to as a result of their digital journey have grown to appreciate the are in the process of delayering rapid deployment of home
execute the FMC strategy. has also resulted in an increase convenience of internet access to form the Serve Co and Fiber connectivity, but also improved
in the XL Satu Net Promotor through convergence services Co entities, with the Company efficiencies in key cost drivers,
XL Axiata is also constantly Score. Today, XL Satu has and the ease of managing their handling service delivery to elevating XL Axiata to the No.
striving to improve the expanded to include all mobile subscription in one single app. customers and Link Net providing 1 converged operator with an
client experience. This was service segments, allowing all the necessary fiber infrastructure. efficient cost structure and solid
accomplished by developing consumers to experience the To address the current evolving In addition, in 2023, both entities profitabilty, which will continue
the best solutions for families converged service. Internally, trends and internet needs signed an agreement to scale increasing shareholder value for
through service differentiation, the Company strengthened in Indonesia, XL Axiata has up the number of homes passed investors.
the expansion of the digital converged IT systems that would established partnerships with available for the Company to
services portfolio beyond enable converged touchpoints, streaming services such as extend its FBB and FMC services.
content, and cross-segment converged products, and Vidio and Vision+ to extend This strategy forms a solid
synergies; delivering an end- converged billing. special offers to customers, in foundation for the Company to
to-end digital experience addition to partnerships with be one of the leading FBB service
through best-in-class digital Overall, the Company was CATCHPLAY+, LIONSGATE providers in Indonesia.
touchpoint experiences, successful in ramping up the PLAY, WeTV, Nussa, and
seamless online acquisitions, FMC proposition performance AirConsole. OUTLOOK
and proactive digital care and in 2023. The Company was
experience management; and able to accelerate fixed XL Home subscribers increased Going forward, the Company
introducing simplicity driven broadband client acquisition significantly from 123 thousand will continue to accelerate
by personalization with the while significantly improving in 2022 to 235 thousand by the the penetration of XL Satu
right size propositions for convergence penetration. XL end of 2023, and we expanded throughout Indonesia in line
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
ENTERPRISE BUSINESS & ENTERPRISE BUSINESS & CORPORATE AFFAIRS
CORPORATE AFFAIRS
We achieved outstanding
results and a significant revenue
increase during the year. In
light of our network, technology, and
human competency advantages, we PERFORMANCE OVERVIEW
are pleased that our ICT solutions for
customers across segments benefited Enterprise Business saw 37% revenue Planted 300 mangrove trees in
growth as of Q4-2023
them. We are honoured to be a trusted Surabaya, the first batch in Mangrove
planting initiative
partner that has witnessed the digital Over 3.800 connectivities for SMEs
transformation of businesses, including through XL SATU BIZ
Explored the potentials of renewables
SMEs, and how they have successfully for telecommunication towers
XL Axiata, a trusted partner in
modernised their operations through customers’ digitalisation journeys
the adoption of technology. Obtained Carbon Disclosure Project
Internally, implemented digital archiving (CDP) Certification with grade B on the
for all company documents first submission
Following a reorganisation within STRATEGY OBJECTIVES Moreover, in recognition of The Division’s strategies were
XL Axiata in 2023, the Director Indonesia’s diverse economic highly detailed in alignment
of Enterprise Business is now The Enterprise Business Division landscape, the Enterprise with the Company’s overarching
YESSIE D. also involved in oversight of is a crucial growth engine within Business Division has expanded vision, as XL Axiata sought to
YOSETYA Corporate Affairs, which includes
Regulatory and Government
the Company, collaborating with
the Consumer Business Division to
its services beyond major
organisations to cater to the
be the Preferred ICT Solutions
Provider and position the
Relations (RGR), Legal, achieve XL Axiata’s bottom-line needs of Small and Medium Company as the leading
DIRECTOR &
Corporate Communications, targets. This segment is vital to Enterprises (SMEs). SMEs are Converged Operator, providing
CHIEF ENTERPRISE
and Environmental, Social, expanding the Company’s reach Indonesia’s economic backbone services beyond connectivity.
BUSINESS AND
and Governance (ESG). While and impact by concentrating and have significant growth
CORPORATE
Enterprise Business is a growth on key sectors such as mining potential, which Enterprise In the Company’s growth journey,
AFFAIRS OFFICER
engine for the Company, and finance, as well as assisting attempts to capitalise on with challenges were inevitable, most
Corporate Affairs is the enabler of public institutions. By targeting XLSATUBIZ, which provides SMEs notably in terms of maintaining
corporate strategies. these sectors, the division taps with the flexibility and scalability the alignment of our human
into areas with unique challenges to operate more efficiently and capital with XL Axiata’s future
and leverages its expertise to productively as they adopt digital direction. For the Enterprise
deliver innovative solutions. business methods. Business, our mission of bringing
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
ENTERPRISE BUSINESS & CORPORATE AFFAIRS ENTERPRISE BUSINESS & CORPORATE AFFAIRS
multiple solutions under our The Company has cascaded to new areas of growth and improve revenues by knowing integrated ICT solutions to suit service for fixed network,
portfolio meant that the the 4Ps into actionable rapid digitalisation, Enterprise customers more accurately. enhance business growth. and (ii) on mitigating potential
Company needed to constantly strategies that are aligned achieved 37% year-on-year SMEs’ enterprises or products. Furthermore, XL Axiata created legal exposures, such as police
broaden its talent’s skills to big with Sustainable Development revenue growth by the third SMEs can use Open WiFi to the Software-Defined Wide reports filed by a third party,
data and cloud solutions. In Goals, particularly Goals 1, 3, 4, quarter of 2023. XL Axiata collect information about Area Network (SD-WAN), which customer complaints, cases
terms of growth, the Company 5, 8, 10, 11, 13, 16, and 17, and offers a variety of products public hotspot users online is currently outfitted with the related to day-to-day business
sought to optimise its synergy are certainly supportive to the that have enabled Enterprise’s and securely. This information most up-to-date anti-malware operations, claims submitted
with PT Hypernet following the Indonesian government’s SDGs rapid growth, such as Private can be utilised to determine and anti-virus technologies, to by vendors, and inquiries from
acquisition process completion attainment efforts. Network, ICT projects, the promotions based on customer help major corporations build a the law enforcement agencies
in the second quarter of 2022. Internet of Things, and Fixed profiles. Meanwhile, Managed dependable and cost-effective and supervisory agencies,
The Company recognises Network. Service WiFi cloud-based IT infrastructure. SD-WAN is such as Business Competition
The foremost goal of Corporate the broad spectrum of social technology that remotely currently being used in a variety Supervisory Commission
Affairs has been to enable the and environmental concerns XL Axiata has been a reliable manages, controls, and solves of industries. (KPPU) and Consumer Dispute
entire organisation to move confronting the world today. digitalisation partner for Wi-Fi network problems of Settlement Board (BPSK).
forward - for the Company to The Company is resolved to corporate enterprises. With a business, therefore saving During the year the Regulatory
capture new opportunities and contribute to addressing such the capability to provide XL operational costs & Government Relations (RGR), Moreover, Corporate
monetise new revenue sources concerns using its capacity, Axiata Business Solutions, the as an enabler of business Communications assists in
while meeting its responsibilities which has been identified based Company has been providing XL Axiata also continued its strategies, ensured the the Company’s operations by
to people and the planet. On on conceivable business risk integrated ICT services XLSATUBIZ offer for SMEs, Company’s full compliance with implementing communications
this journey, XL Axiata is guided and opportunity in the short, for corporations that have providing up to 300Mbps of laws and regulations, including campaigns and programs
by the 4Ps pillars: medium, and long term, as well improved operational efficiency unlimited internet quota and a the Personal Data Protection to communicate XL Axiata’s
as materiality assessment. The and delivered value escalation. quota bonus of 100Gb to be law, Electronic System Operator messages to various
› Building Prosperity: latter assisted the Company in One of the enterprises shared among 10 employees. Control Management (TKPPSE) stakeholders. The following
Contributing to the nation’s understanding the significance supplied by XL Axiata in West XLSATUBIZ, in partnership with regulation, and device ownership were the unit’s initiatives in
prosperity by developing of various issues to XL Axiata Nusa Tenggara has recently the smart app Majoo, enables registration regulation. RGR 2023:
the economy and improving and prioritising actions based integrated IoT into its water SMEs to create online stores also successfully optimised › Collaborative campaign
people’s standard of living. on impact level ranging from distribution business, resulting that are integrated with social ISR cost and compliance between Corporate Brand
› Nurturing People: Not only low to high. Climate Change in significant improvements in media platforms ranging from compared to 2022 levels, as and Segment Brand during
encouraging Indonesia’s and Carbon, as well as Energy real-time monitoring and billing websites to Instagram and well as assisting the Company Ramadan, “Ada Untuk
progress through and Emission Management, accuracy. XL Axiata entered into WhatsApp. Majoo also provides in meeting its Non3T obligation Kebaikan”, which proved
digital infrastructure were identified as two priority a five-year partnership with a inventory management, point- with minimum cost to fulfil all effective in improving Brand
development, but also issues during the materiality university in Purwokerto to build of-sale (POS), and human Ministry of Communications and Linkage and Reputation.
committing to building assessment exercise, and XL and enhance the institution’s resource solutions on a single Informatics requirements. RGR The campaign also received
human resources in the Axiata has also maintained IT system, including services platform. Enterprise Business is also able to align XL’s business Most Loved Ramadan Ads
digital era. its focus on women’s such as Learning Management currently managing over 3,800 requirement with new MOCI 2023 from Kantar.
› Process Excellence: Good empowerment and digital System Solutions. The Company connections among SMEs in requirement to service blank › PLNisasi, Genset Reduction,
governance practices in entrepreneurship. also continued to support the XLSATUBIZ. spots areas in 1,021 villages. Network Equipment
every operational activity, development of smart cities Shutdown, Outdoorization,
supporting XL Axiata to PERFORMANCE and smart industrial zones, The robust network of XL The Corporate Legal Unit is and RAN Power Saving
become a strong company SUMMARY such as in Southeast Sulawesi, Axiata enabled these front- in charge of strategic legal Feature. XL Axiata also
that continues to grow. where it was assisting a district end services. A collaboration counsel, litigation management, engaged its suppliers to
› Planet and Society: Always Despite uncertainty in the in building an e-government with PT Indonesia Comnets Plus and corporate action create initiatives to lower
carrying out strategies and business and economic system. (PLN Icon Plus) has enabled management. In 2023, this carbon emission levels even
operational activities that landscape, 2023 saw visible both entities to leverage joint unit advised XL Axiata (i) on further.
support the environment advancements and significant During the year, XL Axiata infrastructures of fibre optics, several corporate actions and › Published corporate action
and society as the two things progress. Enterprise Business introduced Open WiFi and tower/poles, submarine cables, commercial transactions, such updates. XL Axiata’s share
that determine business has made significant strides Managed Service WiFi to SMEs. and data centres. This means as the sale and leaseback of price witnessed an upward
growth. in the last two years, and Open WiFi is a cloud-based WiFi giving XL Axiata’s corporate telecommunication towers and trend in 2023 subsequent
thanks to its assertive pivot management program meant to customers access to the best collaboration on a build-to- to the disclosure on the
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
ENTERPRISE BUSINESS & CORPORATE AFFAIRS ENTERPRISE BUSINESS & CORPORATE AFFAIRS
allocation of proceeds accounted for the majority of OUTLOOK out its existing skill sets, identify intensity by 80kg CO2e/TB. In
generated from its rights its emissions. To address this up- and re-skilling requirements, the long run, the Company aims
offering. issue, the company engaged XL Axiata is optimistic about and make decisions to expand to achieve net zero by 2050.
› To reinforce XL Axiata’s PLN, a power company, to the future. The Company aims its talent pool.
position as a global player, assess power consumption to support more businesses In relation to Sisternet, the
XL Axiata the Company communicated in towers and produce tower as they embark on their In terms of Corporate Affairs, Company intends to expand its
obtained the widely about its network profile mapping using AI. digital transformation path, the Company will continue beneficiary group to younger
expansion, particularly in taking advantage of greater to support XL Axiata as an women in the near future and
Carbon Disclosure Kalimantan as part of new XL Axiata undertaken the technology accessibility. XL organisation by introducing new provide interventions before
Project (CDP) capital city development. first round of mangrove Axiata is also being encouraged and improved initiatives that they start businesses. The goal
› Launching of Studio LVL planting, contributing 300 to accelerate its infrastructure build on previous strategies. is to have one million Indonesian
Certification with 36, a video and photo plants. Furthermore, XL Axiata and service leadership, paving This is notably evident in ESG WSMEs go digital by 2025. In
a B score on the production facility accessible aimed at reducing emissions the way for industry-wide targets, which have short, the long term, the Company
for any department within intensity to 125 kg CO2/TB innovations. medium, and long-term time aims to achieve higher scores
first submission, the Company. by 2023. The Company also horizons. After reporting Scope on performance indicators
as recognition of › Converged Card, which began exploring the utilisation Moving forward, the Company 1 and Scope 2 emissions, the such as the CSR Index, SROI,
our commitment integrates employee ID of renewable energies by intends to broaden its Company is now planning to and Beneficiary Satisfaction
card, building access card, initiating discussions with PLN. Enterprise portfolio to include disclose Scope 3 emissions, Level. In terms of governance,
to environmental and business card. This was These efforts have led to the manufacturing, transportation, which would necessitate third- the Company intends to
transparency a collaborative effort with attainable of Carbon Disclosure and logistics in 2024. Through party participation and more strengthen GCG practises and
other departments, such as Project (CDP) Certification increased demand in ICT, XL complex datasets. In terms conform to ASEAN standards,
and sustainability Corporate Communications, with a grade of B on the first Axiata intends to improve its of emissions, the medium- while also advancing the full
initiatives. Human Capital, and Facility submission, as a recognition core connection strategy and term target for 2025 is to add implementation of digital
Management. of our commitment towards foster profitability. In terms sustainability certifications, records.
› Promotion of e-SIM adoption; environmental transparency of talent, the Company will validate greenhouse gas data
since its launch, 200 and sustainability initiatives. continue to examine and map inventory, and lower emission
thousand e-SIM customers
have been registered and In terms of social responsibility,
their numbers are still the Company maintained
growing. its Sisternet program,
which focuses on women
In terms of ESG, XL Axiata’s empowerment, particularly
environmental priority led the women-led small and medium-
Company in establishing a green sized businesses (WSMEs). In
product portfolio by gradually 2023, the Company expanded
substituting raw materials cross-industry relationships to
in products and packaging boost Sistenet’s impact. XL
with recyclable materials. Axiata collaborated with Islamic
Internally, the Company drove a boarding schools to develop
sustainable lifestyle as a culture students’ digital entrepreneurial
by integrating hybrid working, skills. A new initiative aimed at
energy efficiency, and raising individuals with disabilities, XL
awareness of carbon emissions. Axiata Peduli Disabilities, was
As a telco company, XL Axiata also launched last year.
identified that tower operations
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
TECHNOLOGY & NETWORK TECHNOLOGY & NETWORK DEVELOPMENT
DEVELOPMENT
Through continuous smart
network expansion, the
incorporation of cutting-
edge technologies for a more
seamlessly converged service, and
the adept utilization of digitalization PERFORMANCE OVERVIEW
and automation to enhance network
operations efficiency, XL Axiata
managed to achieve commendable Total 160,124 BTS, including XL Satu Fibre covers
results in 2023 in terms of network 104,993 4G BTS 86 cities/districts
and technology, directly translating
into positive impacts on business
growth. This includes double-digit More than 159 thousand kilometers Serving 57.5 million
annual revenue growth and an fiber optic installed customers in Indonesia.
impressive EBITDA level of 49%.
STRATEGY OBJECTIVES underway to implement all three. To address cost-related that entails the use of intelligent
The Company was also aiming challenges, the Company’s ventilation cooling system (IVS)
I GEDE As the backbone of XL for service quality consistency to strategies included intensifying and DC fan. Starting 2023, XL
DARMAYUSA Axiata products and services,
Technology & Network
cement XL Axiata’s position as a
leading operator.
digitalization in XL Axiata
to eliminate manual jobs.
Axiata implemented Advance
Metering Infrastructure (AMI)
executed precise strategies With our partners, we also and Automatic Meter Reading
DIRECTOR &
throughout 2023 to support the It was important that expansion negotiated to increase the (AMR) for easier monitoring of
CHIEF TECHNOLOGY
Company in realizing its aims. and operational needs were number of automated jobs, power consumption in BTS. We
OFFICER
We navigated rapid changes balanced with cost efficiency such as remote troubleshooting also mapped out our assets
in technology and business to maintain profitability without where possible, and that the to identify any idle equipment
landscape as well as handled compromising quality. Deploying equipment procured were and take necessary decisions,
network expansion to boost network across Indonesia as an power-efficient, as electricity such as dismantling 2G BTS on
XL Axiata’s presence across archipelagic country also poses is one of the biggest cost account of low traffic.
regions in Indonesia. Our core unique challenges in terms of drivers. The Company also
strategies in 2023 were network infrastructure development and continued exploring cost- Moreover, the Company has
convergence, digitalization and operational cost, i.e. backbone saving initiatives, such as by to ensure that its investments
automation with customer- readiness and electricity modernizing its BTS units and in network and technology
centric approach and we are well availability. introducing green BTS concept are optimally utilized. In 2023
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
TECHNOLOGY & NETWORK DEVELOPMENT TECHNOLOGY & NETWORK DEVELOPMENT
existing assets and long- sites on air and upgraded over nation-wide, XL Axiata has also resulted in up to 50% energy Broadband Telecom Company include maximizing overall
standing experience in mobile 10 thousand sites to ensure been developing networks in saving, and since launched in of the Year - Indonesia and network assets, various
were leveraged to support XL capacity sufficiency. Coverage- farther islands. The latest mark 2014 has covered over 90% Marketing & Brand Initiative of adoption to new technology to
Axiata’s converged business, wise, XL Axiata operated close was East Nusa Tenggara (NTT), of the Company’s own BTS. the Year - Indonesia. further develop our network to
and we took careful decisions to 160 thousand BTS units, where the Company supported To mitigate power scarcity become future proof, enhancing
on where to invest based on including over 104 thousand 4G the remote Alor Island to be in certain areas, XL Axiata To ensure data and system our automation and analytics
area potentials and dynamics. BTS or up 14.5% year on year more productive. There are implemented hybrid system security, XL Axiata was already capability to increase operation
Data intelligence was gathered and 61% fiberization. also 32 sites of 4G BTS in NTT charge discharge battery (CDC) certified IS027001:2013 for efficiency as well as exploring
from XL Axiata’s teams on that the Company operates that saved diesel consumption customer data protection. It new business line to ensure our
the ground and data analytics The Company has deployed under universal service by an average of 54%. These marked an important milestone, customer experience meeting
platform that provided the technologies to increase obligation (USO) arrangement led to reduced expenditures, providing the organization the Company’s standard of
Company with data points that network capacity efficiency, in collaboration with BAKTI, such as supplies and overhead. with updated and enhanced excellence.
could extrapolate projections such as Cisco Ultra Traffic a government agency that Overall, the increase in OPEX standards to safeguard their
for next 3 to 6 months. Optimization, and Dynamic oversees telco accessibility, stayed behind revenue growth, sensitive data and mitigate The Company will prepare
Thereby, the Company could Spectrum Sharing 4G/5G that to support connectivity which was favourable for cyber risks effectively. XL technology and product to
make informed decisions on allows both networks to share a development in Indonesia. profitability. Axiata also practiced cyber deliver seamless service across
where to focus its resources. frequency spectrum. security drill twice a year and mobile to fixed network to
In 2023, trust to XL Axiata’s Moreover, XL Axiata service joined a monthly cyber forum further tap underpenetrated
Strong data analytics capability The Company also continued network quality was evident quality and customer with the Axiata group. FBB market and exploring
has become a differentiator to strengthen its presence in from the Company’s presence satisfaction were evident from new business line, mainly in
for XL Axiata. The Company’s regions outside Java – having in various prestigious events, convergence penetration at OUTLOOK Enterprise segment.
customer apps, for example, been the second strongest including MotoGP in Mandalika 75%, 50% YoY growth of XL
combined with other tools operator in Sumatra, in 2023 circuit, Lombok, where we Home subscribers, and 29 Stepping into 2024, the Finally, XL Axiata will continue
were able to let us know XL Axiata started to focus deployed the latest technology million monthly active users of Company embraces another to sweat its assets, seek
customers’ likes and dislikes. more on Kalimantan, home of Massive MIMO, the 42nd ASEAN MyXL and AXISNet apps. The year with various key initiatives innovative business models with
This allowed the Company to Indonesia’s new capital city. In Summit in Labuan Bajo, NTT Company was also named Best based on our refined strategy business partners, and strive to
design initiatives to encourage 2023, XL Axiata added 709 4G where the Company also Fixed Mobile Convergence: XL to strengthen our position be the best in delivering what
customers to use or consume BTS across Kalimantan, or 12% designed special starter pack SATU in Selular Awards 2023 as the leading converged customers truly need.
more of our services. In the growth YoY to reach 10,245 BTS, products to cater to the needs and won in two categories in mobile operator in Indonesia.
Home business, data analytics and recorded 21% YoY traffic of international delegations, Asian Telecom Awards 2023 as The strategies going forward
generated information on growth. Overall, in Kalimantan, and the e-Formula in Jakarta.
number of devices and usage. XL Axiata today serves over
The Company used them to 75% of the population. As for Further, technology innovation
create different packages fiberization, the Company has deployment in 2023 included
tailored to household size. In installed over 9,500 kilometers seamless SRv6 and MPLS
Enterprise, data came from a of optic fibres on the island. network solutions and software
monthly survey of over four defined networking (SDN)
thousand customers, resulting Sulawesi, Kalimantan’s automation technology across
in increased usage and neighbouring island, is also a our network, and operation
customer satisfaction. Overall, potential market where the automation. The results were
data analytics enabled XL Company is ramping up its immediate, such as in improved
Axiata to be more precise in presence, especially in South latency.
investing and strategizing. Sulawesi. With a total of 1.4 Solid network coverage
million customers, XL Axiata performance was also reflected
PERFORMANCE operated 5,400 BTS in this area. in the Company’s balance sheet.
SUMMARY XL Axiata posted substantial
To support the government’s 11% revenue growth, EBITDA
The Company’s strategies vision to accelerate margin on target at 49.1%, and
delivered strong results. In 2023 telecommunications 15% growth of net profit for
the Company had over 3000 infrastructure development the year. Meanwhile, green BTS
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
IT & DIGITAL IT & DIGITAL ANALYTICS
ANALYTICS
IT & Digital Analytics will
continue to support XL
Axiata’s aspiration to become
PERFORMANCE OVERVIEW
leading converged, digital telco in
Indonesia. To this aim, we will deliver
Monthly average users (MAU) myXL
reliable digital platforms and services and AXISnet grew almost 2x in two
Internal process modernized
to boost productivity
as well as digital innovations to years.
achieve accelerated and sustainable
MyXL and AXISNet adopted
business growth in the most cost- Launch of eSIM by half of total XL Axiata’s
effective manners. subscribers
STRATEGIC OBJECTIVES execution of this role rests on identified three major ones, effectiveness. Meanwhile, in
three fundamental pillars: namely people, process, and terms of tools and technology,
IT & Digital Analytics is a critical tools and technology. People- we need to ensure a balanced
business enablers partner in XL 1. RUN: maintaining robust related hurdles concern scarcity approach in overall IT
Axiata in order to accomplish system reliability and in digital talents, leading to architecture decisions as
the Company’s aim of being the security. heightened competition for the telco market is highly
RICO #1 converged operator. 2. CHANGE: investing in new
innovations to enable
talents with other digital
businesses. At the same time,
competitive and securing a
sustainable cost structure
USTHAVIA In pursuit of that objective, accelerated and sustainable it is crucial to upskill existing becomes important.
FRANS IT and Digital Analytics is
envisioned as the trusted
corporate growth.
involves reducing time-to-
This talents and bring them to digital
native capabilities. To that end, Other challenges include driving
provider of reliable enterprise- market through automation, the Company has organized transformation of legacy
CHIEF IT &
wide digital platforms utilizing AI/Analytics, and training programs to ensure platforms and ensuring that
DIGITAL ANALYTICS
that enable sustainable ensuring the IT cost structure that all XL Axiata employees IT services can be delivered
convergence businesses and is future-proof. are able to keep up with new timely without any compromise
promote ongoing productivity 3. TRANSFORM: transforming demands of competencies and on quality.
improvement. The division people and organisation their roles in the workplace
introduced business process to address current and and, where necessary, recruit Despite the challenges, we
re-engineering to ensure future problems while also new talents. are pleased to report that IT
business process’ readiness in delivering new ideas at scale. & Digital Analytics was able
accommodating digitalisation. In terms of process, we strive to deliver digital advances in
Innovations are also expected When it comes to implementing to constantly match the rate 2023, as outlined below.
to be customer-oriented, strategies into action, hurdles of innovation with optimum
timely, and cost-effective. The are inevitable. We have customer experience and cost
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
IT & DIGITAL ANALYTICS
HUMAN CAPITAL
DEVELOPMENT
PERFORMANCE such as loyalty management also be used to assess branding
SUMMARY programs and eSIM, resulted in effectiveness.
a near 2x increase in monthly As we deal day-to-day with
Reflecting on 2023, there active users (MAU) growth in data and IT functions, we are
were four distinct innovations the past two years. well aware of the cybersecurity
that furthered XL Axiata’s risks that entail. It is imperative
transformation. First, Single Moreover, we have also been that customers and corporate
Customer ID, which now allows modernizing internal processes data are always secure, and
for future seamless synergy through digitization to eliminate this is accomplished through
between the Mobile and Home manual work and boost infrastructure upgrades,
business areas. productivity across functions, application security protection,
including the use of AI/ and process and governance to
Second, the launch of eSIM analytics and Robotic Process manage security and privacy.
in April 2023. Today, we Automation (RPA). We noted
have integrated eSIM across several important findings from OUTLOOK
numerous prepaid and postpaid digitization efforts, including
business divisions. While eSIM one-day financial close, revenue As we continue our endeavour
is currently compatible with assurance anomaly prediction, to support XL Axiata to
certain smartphone types, and a unified platform for XL achieve its ambition, going
we are also working to boost Home sales and operations to forward we plan to continue
eSIM acquisition with efficient support Convergence business. digital transformation to
onboarding through the deliver a consistent and strong
Company’s digital channels. Today, the Company’s consumer experience that
salesforce can benefit from XL supports convergent Mobile-
The third innovation was partner Axiata’s own digital platforms Home services. We are going
integration via standard API to to market the Company’s to maintain use of AI and XL Axiata continues in its path to become the Leading
support growth of XL Home. products, including creating digital automation so that Converged Operator in Indonesia, backed by its 1,495
We established a standardized sales pipeline, sales planning, strategic level decisions can be
integration method with and monitoring inventory. operationalized smoothly and workforces. Given this mission, the Human Capital (HC)
FiberCo, resulting in faster For HOME’s salesforce, their further translated into better Division is now playing an even more strategic role. Digitalization
partner onboarding. Finally, on platform is equipped with customer experience.
brand portability, our innovation sales order and sales activation
has been introduced to enhance work productivity and to allow XL
enabled XL customers to feature as well as analytics We will also continue to leverage Axiata’s HC policies to add value to business operations.
transfer from the XL prepaid feature to identify best potential technology to change internal
brand to the AXIS brand which areas for home connections. IT capabilities and procedures
strengthened synergies across into a more resilient and cost-
business segments. The role of AI in decision effective model, and we seek to
making and business operations transform our working practices OVERVIEW goals with the company’s Customers, Courage for Change,
Apart from that, we have been is growing, for instance in and organizational structure to strategic objectives. and Passion for Collaboration.
working to improve customer analysing profitability and guarantee that the Company In today’s rapidly evolving
experience across our core identifying utility rate of can acquire, develop, and retain business landscape, the role of XL Axiata’s human capital policy
digital touchpoints, i.e., MyXL, BTS towers. AI has assisted the best IT people to support IT human resources (HR) has become takes into account all of the HUMAN CAPITAL
Axisnet, and SiDompul. The the Company in studying strategic agendas. increasingly critical for companies above in pursuit of its purpose ACTIVITIES IN 2023
introduction of new features customers’ profile, thereby striving to maintain a competitive of bringing the world closer in
and personalized experiences, enabling personalisation. AI can edge. As a fundamental pillar a simple way for a brighter life
of organizational success, HR and vision to be the Leading In 2023, the Human Capital (HC)
plays a pivotal role in attracting, Converged Operator in Indonesia. Division strategically honed
developing, and retaining top The Company is also guided by its focus on organisational
talent, fostering a positive work its values of Uncompromising development with a primary
culture, and aligning employee Integrity, Obsession for emphasis on Converged
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
HUMAN CAPITAL DEVELOPMENT HUMAN CAPITAL DEVELOPMENT
Organization Design. This involves from Business News in EMPLOYEE leadership development. To Company to success in the ever- fair and transparent performance
a meticulous examination and November 2023 where EDUCATION AND improve the skills leaders, a changing telecom sector. evaluation.
restructuring of customer-facing the Company attained number of programs are put
functions, technology functions, very best in Learning & DEVELOPMENT into place, including Strategic TALENT
and business enabler functions to Development (L&D) and Communication, Holistic Business PERFORMANCE MANAGEMENT
ensure a seamless convergence Knowledge Management, The Company prioritises Simulation, and Financial Acumen MANAGEMENT
experience. Ultimately, the goal HR Digitization and employee training and for Executives. These programs The Company’s capacity to
is to elevate the organisation’s People Analytic, Employer development with a strong aim to equip leaders to meet the The goal of XL Axiata’s preserve the continuity of key
competitive edge. Branding and Talent emphasis on automation and organization’s present and future performance management is positions is essential to XL Axiata’s
Acquisition. artificial intelligence as critical issues. The Company strongly to guarantee that all employee sustainability. Consequently, the
With a focus on facilitating competencies. XL Axiata has emphasizes the development of members are fully informed of Company maintains a pool of
faster convergence in 2023, RECRUITMENT recognised the need to nurture soft skills, which are necessary the Company’s vision, mission, qualified leader candidates and
changes must be continuously an innovative and technologically for a dynamic work environment, and purposes and strategy. succession plans. The best and
implemented given the The Company’s recruitment advanced culture by augmenting in addition to technical talents. At the start of the year, the most promising leaders within
business needs. Organizational strategy is closely linked to the workforce’s knowledge and Employees benefit from holistic communication is done in XL Axiata are honed and in large
development, future capability the objectives of business expertise in AI. As such, it has growth through programs that phases in each directorate. This part they reflect the success
development, mindset convergence, with a primary conducted multiple AI-related cover effective communication, system guarantees that every of XL Axiata’s education and
transformation, implementation emphasis on filling open positions projects, such as AI Train the problem-solving, decision- employee is aware of their job development initiatives.
of Agile@Supercharged, that are essential to advancing Trainers for Future Workforces, making, design thinking, and goals. Additionally, it increases
and enhancing the quality of these strategic initiatives. AI Workshops for Leaders, and corporate presentation. In employees’ engagement. Additionally, XL Axiata
employee experience, as well as Automation plays a critical various other events aimed at order to ensure successful collaborates with Axiata Group
the addition of several facilities part in XL Axiata’s recruitment generating internal use cases, in communication among the The Company keeps track to guarantee that the Company’s
supporting collaboration in the processes that include analytic partnership with technology key heterogeneous workforce, of the past performance talent pool fairly represents both
workplace, are directed towards automation, profiling, matching, partners. language proficiency is also of its employees as part of internal and Group sources. In
the needs of convergence. and thorough digitisation at taken into consideration. Local performance management. XL the event that the Company is
every stage. These automated Beyond AI, XL Axiata has personnel receive business Axiata has created a Performance unable to find qualified applicants
XL Axiata is pleased to report procedures are designed identified the following 13 English training, while expatriate Management System (PMS) to internally for any given position,
that its HC activities were some to ensure that top talent is Key Capabilities to guide employee receive Bahasa facilitate efficient data storage it will explore the potential of
of the best in the industry and acquired and ready to quickly the Company’s employee Indonesia training. and retrieval for this reason. hiring external talent.
were widely recognized, as adapt, all while shortening the development programs: Employee contributions can
evident from awards such as: time it takes to fill positions. 1. 5G In addition to employee be tracked and evaluated with To identify talents and high
› The Best SPEx2® (Strategy 2. Advanced Analytics, AI/ML development, a Xstar this system. Leaders apply potential employees who share
and Performance Execution XL Axiata’s hiring strategy places 3. Convergence Management Trainee (MT) performance management by similar skills & capabilities within
Excellence) Company equal emphasis on technology 4. Agility program is provided to equip talking with employee members the same job family, the Company
in Telecommunication improvements and employer 5. Change Leadership its participants with both on a regular basis to create has created a Corporate Talent
Industry May 2023 from branding enhancements. This 6. Cloud Technology soft and hard skills in the performance indicators, in Pool consisting of analytics,
One GML – Kontan; entails expanding the Company’s 7. Customer Experience telecommunications sector. addition to utilizing the system. unified sales & distribution, and
› The Best Company to outreach on different campuses 8. Digital Savvy Through the combination of IT areas, totalling 294 individuals.
Work for 2023 and The and acquainting prospective 9. Enterprise Business a thorough curriculum and In addition, the Company is
Swift Action - Digital applicants with our Employee 10. Creativity, collaboration & real-world industry exposure, also developing a PMS feature The Company adopts the 70-
Transformation May 2023 Value Proposition (EVP) and partnership the Xstar program helps to to accommodate employees 20-10 ratio, which reflects
› from HR Asia; distinctive corporate culture. 11. Unified Distributions develop a talent pool that working in a squad or project, the makeup of the training
› HR Excellence SWA Award By doing this, not only the 12. Growth Hacking supports the Company’s growth where the squad leader can approach the Company uses, to
in June 2023; and Company draws in top talent but 13. Blockchain trajectory and strategic goals. assess the performance of produce future leaders. Training
› The best reward and also create a strong, attractive These initiatives highlight these employees and inform participants will experience 70%
recognition strategy2023 impression from potential hires, Another key element of the the Company’s dedication the leaders in the structural of practical experience when
and The best human capital which helps our recruitment Company’s HC education to developing a diverse, organization. As such, with this they are exposed to particular
director of the year 2023 efforts succeed as a whole. and development plan is knowledgeable, and flexible new feature, it is expected that job roles, while formal training
workforce that can propel the employees will receive a more accounts for 10% of the total and
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
HUMAN CAPITAL DEVELOPMENT HUMAN CAPITAL DEVELOPMENT
coaching-based development value at XL Axiata in 2023 packages are competitive and in office and home as per company collaborations with XL Axiata to Government Regulation
accounts for 20%. was 70.7% (equivalent to the line with industry norms. and employee needs, and to employee clubs. Moreover, No. 50 of 2012 with 93.37%
e-NPS value of global high-tech arrange their arrival times at work in the context of XL Axiata’s compliance rate with 166 criteria
companies). Additionally, the Company strives with Flexible Working Hours. anniversary, the Company or advanced criteria. These
EMPLOYEE to encourage employees to collaborates with partners and achievements demonstrate a
ENGAGEMENT To provide employees with the optimally utilize health benefits, These initiatives are part of vendors to make donations to 27 strong commitment to building a
experience of interacting directly among others, by providing the employee experience that locations in Indonesia through XL solid OHS Management System.
& EMPLOYEE with customers, the Company regular health examinations receives high priority from Axiata Peduli and XL Axiata Baik. In order to achieve zero accident
EXPERIENCE created a program called AKBAR (MCU - Medical Check-Up), the Company. Moreover, XL These innovative activities are fatalities and zero lost-time
(Akrab Bareng Retail-outlet), access to free consultations Axiata has designed a variety crucial for enhancing employee injuries lasting more than two
Employee engagement, or the ensuring that all employees on MCU results, and regularly of activities, both offline and retention, supporting overall days, the P2K3 actively conducts
involvement of employees, have experience and are hosting health webinars and online, that align with the job satisfaction, and creating a evaluations and distributes safety
has a significant impact on directly involved in addressing paying attention to the health of traditions and characteristics of healthy workplace. reports on a quarterly basis.
the Company’s success and complaints, inputs, and feedback employees and their families by each business function within
performance, such as high from customers and retail outlets, providing health insurance. The the Company. These activities
productivity and motivation of as well as the necessary service Company also offers counselling include “Uncommon Day,” giving OCCUPATIONAL XL Axiata has also successfully
employees, improved quality of improvements. services by health experts. The employees a chance to interact HEALTH AND achieved Bendera Emas for
work, high employee retention, Company maintains the LLP with their teams. Occupational Safety and Health
and low employee turnover. The Company believes that FlexPro program, which offers SAFETY, AND Management System (SMK3) as
In 2023, XL Axiata conducted by prioritizing Employee flexible reimbursement options The Company also routinely ENVIRONMENT a manifestation of collaboration
an Employee Engagement Engagement & Employee for employees and their families organizes XL Axiata Baik and synergy between Human
Survey that was participated Experience programs, the for specific needs, including activities, conducted by XL Recognizing the inherent Capital (HC) and various related
in by employees from all Company can create a education and family member’s Axiata employees, providing hazards of occupational sickness, units. This award is evidence of
divisions within the Company, positive work environment, personal development. assistance to those in need, accidents, and environmental XL Axiata’s commitment and
covering several aspects such support business growth, build including cash and in-kind harm in the workplace, XL Axiata consistency in remain complying
as leadership, remuneration, strong relationships between Furthermore, the Company also donations, sharing knowledge has implemented a proactive applicable regulations,
employee development, employees and the Company, focuses on and prepares pension and skills of employees, and strategy through the HSE consistently providing quality
diversity, corporate culture, and maintain a sustainable funds for permanent employees, offering entertainment to Management System and has and sustainable solutions, and
business ethics, and more. The organizational climate. This is a aiming to provide employees foundations and orphanages. established the Occupational ensuring workplace safety
engagement results were very long-term commitment that can with peace of mind and certainty Safety and Health Advisory and health. Bendera Emas
good, with a score of 83% yield significant benefits for the in their work. During Ramadan, the Company Committee (P2K3) to promote complements the previously
(relatively higher compared to Company. also hosts Safari Ramadan as Occupational Health and Safety attained ISO 45001:2018 related
the Company’s benchmark of The Company also provides a means of communication for (OHS) awareness. This group is to the occupational health and
similar types in Asia in 2023). work facilities tailored to each the company’s latest business made up of representatives from safety management system (K3).
EMPLOYEE function’s needs, and several updates across directorates. the six operational area offices, as
Furthermore, XL Axiata also WELFARE amenities to support comfort Additionally, the Company well as management, employee, The OHS Committee (P2K3),
prioritizes the Best Employee at work, such as providing free regularly organizes Mudik and trade unions, and work to besides actively evaluating and
Experience by measuring XL Axiata is dedicated to breakfast for employees who Bareng Karyawan as a free create a safer and healthier work reporting on safety every three
e-NPS in several Human Capital implementing competitive arrive early, nursing/lactation facility for employees to travel environment. months, also has an active role
processes such as the hiring remuneration package as part rooms in accordance with Minister to their hometowns during the in introducing the basics of
process, onboarding, medical of a strong employee welfare of Health Regulation No. 15 of Eid holiday, “Ngopirasi – Ngopi XL Axiata has obtained ISO HSE to all employees directly
claims, reimbursement, payroll, program. By adhering to the three 2013 for female employees to Ngasih Aspirasi,” which opens 45001:2018 (SMK3) and ISO and electronically, including
training, workspace facility, and Ps principles: position, person, provide exclusive breastfeeding a direct line of communication 14001:2015 (SML) certifications in Executive Briefings for the
collaboration between functions and performance, XL Axiata for 6 months, and a children’s between leaders in HC, 2022 and continued to maintain Management team. Additionally,
in several Divisions such as guarantees an appropriate and play area to help employees supervisors, and staff, enhancing the certifications in 2023. Aside training sessions are conducted
procurement, legal support, equitable pay plan. For different monitor their children. In addition, engagement with one another; from international certifications, on HSE competencies such as
contract management, channel pay components, the Company the Company has implemented a and an annual event to celebrate in 2023 XL maintained its General OHS Expert, Electrical
distribution, IT helpdesk support, regularly evaluates the market Hybrid working model, allowing XL Axiata’s anniversary, SMK3 certification since it Safety Expert, Firefighting,
and others. The average e-NPS to ensure that its compensation employees to work from both the including competitions involving was attained in 2015 pursuant OHSAS Auditor, Work Accident
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
HUMAN CAPITAL DEVELOPMENT
TRAINING DATA
Investigation, First Aid, and HR INFORMATION engagement at retail outlets,
other necessary competencies in SYSTEM making their work experience
accordance with HSE regulations more dynamic. Additionally,
and standards. Digitalisation has been a ChatGPT has been integrated
company-wide initiative in XL into the chat functionality.
OHS risk management is seen as Axiata, including in HC-related The use of generative
a shared responsibility in addition business processes. To that end, AI has improved internal
to P2K3 activities. The Company XL Axiata has implemented communication and eventually
creates official regulations and a strong Human Resource fostered a more productive
incorporates OHS principles into Information System (HRIS) built work environment. Other
daily operations. Employees around three key pillars. First of all, digitalization initiatives include
actively participate in identifying from hiring through retirement, the the AKBAR feature in the New
and controlling OHS threats system is made to maximize the Xlife app to enhance employee
in their workplaces. As the employee experience throughout. engagement at retail outlets
result, the Company continued This all-encompassing strategy and gather feedback for XL
to perform consistently as in raises employees’ productivity, products, the e-MR feature that
prior years, and in 2023 again contentment, and engagement. supports resource management
achieved zero accident record. The HRIS also introduces error processes, automatic shortlisting
reduction, administrative work with automatic schedule
JANUARY-DECEMBER 2023
Moreover, the Company has simplification, and the removal of recommendations, automatic
NO DESCRIPTION IN-CLASS & WEBINAR ON-LINE SELF
set up a health clinic in the manual operations. This improves online learning recommendations, LEARNING LEARNING
TOTAL
workplace to give employees efficiency in operations and frees and the e-Facility Request
1 Number of Employees 1,495 1,495
easy access to medical services. up employees to devote more time feature to expedite the service
(Jan-Dec)
To support employee well-being, to strategic projects. Thirdly, the process to employees with one-
door access ease. 2 Total training session and 223 Program(s) 2,444 Program(s)
particularly in preventing serious system leverages technology to 2,221 Program(s)
workshop 343 Sessions 343 Sessions
and work-related illnesses, XL assist decision-making processes,
Axiata provides not only health evaluate data for insights, and 3 Unique employee as a 1,451 907 2,358
facilities, but also sports facilities, improve overall efficiency by STRATEGIES GOING participant
therapeutic and preventive integrating artificial intelligence FORWARD 4 Participant 7,716 9,672 17,388
measures, and routine medical (AI) across a number of roles.
5 Total training days 11,180 days 9 Sesi 11,189 days
examinations. Moving forward, XL Axiata will
6 Total training hours 50,993 hours 8,163 hours 59,156 hours
HRIS is agile and is equipped with continue to focus on realizing
Rest facilities are also prepared many modules to accommodate its vision and mission through 7 Average training hours 35.14 hours 9.00 hours 44.14 hours
on several work floors, which corporate expansion. These appropriate HC policies. The per employee
employees can use for short modules, which offer a use of AI and machine learning,
breaks in between work. comprehensive approach, cover and other technologies,
dimensioning, performance will continue to boost work
With the unions, the Company management, and individual productivity and efficiency, and
maintains a positive relationship development. to enhance the strategic value
by holding regular bipartite of HC as an essential pillar for
meetings and adhering to Furthermore, the system uses XL Axiata’s growth.
Work Safety, Manpower, and cutting-edge apps such as
Environmental legislations. XLife to improve employee
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MANAGEMENT DISCUSSION & ANALYSIS Fast-Tracking with Agility, & Resilience
EMPLOYEE DEMOGRAPHICS EMPLOYEE DEMOGRAPHICS
Employee Demographics by Job Level
DESCRIPTION 31 DECEMBER 2023 31 DECEMBER 2022
President Director & CEO 1 1
Director 5 5
Chief 7 6
Group Head 49 47
Head 173 169
Staff/Individual Contributor 1,260 1,273
Grand Total 1,495 1,501
Employee Demographics by Age
DESCRIPTION 31 DECEMBER 2023 31 DECEMBER 2022
<25 years old 9 10
25-30 years old 149 159
30-35 years old 343 339
35-40 years old 330 335
40-45 years old 343 353
45-50 years old 227 219
Employee Demographics by Directorate > 50 years old 94 86
DESCRIPTION 31 DECEMBER 2023 31 DECEMBER 2022 Grand Total 1,495 1,501
CEO's Office 97 143
Employee Demographics by Education Level
Finance 175 180
DESCRIPTION 31 DECEMBER 2023 31 DECEMBER 2022
Commercial - Home & Convergence 50 56
Diploma 108 118
Commercial - Consumer 515 503
Bachelor Degree 1,252 1,253
Technology 204 202
Master/Doctorate 135 130
IT Digital and Analytics 285 –
Grand Total 1,495 1,501
Digital Transformation & Enterprise Business – 417
Enterprise Business & Corporate Affairs 169 –
Grand Total 1,495 1,501
Employee Demographics by Tenure
DESCRIPTION 31 DECEMBER 2023 31 DECEMBER 2022
< 1 years 151 122
Employee Demographics by Employment Status & Gender
1 - 5 years 320 401
31 DECEMBER 2023 31 DECEMBER 2022
DESCRIPTION 5 - 10 years 462 417
MALE FEMALE TOTAL MALE FEMALE TOTAL
10 - 15 years 268 255
Permanent 843 399 1,242 875 396 1,271
15 - 20 years 182 196
Contract 204 49 253 183 47 230
> 20 years 112 110
Grand Total 1,047 448 1,495 1,058 443 1,501
Grand Total 1,495 1,501
Employee Demographics by Gender
DESCRIPTION 31 DECEMBER 2023 31 DECEMBER 2022
Male 1,047 1,058
Female 448 443
Grand Total 1,495 1,501
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
XL Axiata launched a
new system called the
“Single Registration
System”, which is a single
platform for registering,
numbering, and
categorizing all corporate
documents within the
organization, integrated
with XL Axiata’s
repository system.
CORPORATE
GOVERNANCE
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE
CORPORATE GOVERNANCE
GOVERNANCE
CORPORATE GOVERNANCE The Company also has established internal policies
LEGAL REFERENCES such as the Employee Code of Ethics and Conduct
Policies, GCG Manual, Work Guidelines and Code
As a public company listed on the Indonesia Stock of Ethics for the Board of Directors and Board of
Exchange, XL Axiata refers the guidelines for Commissioners (Board Manual), and other internal
XL Axiata focuses on enhancing digitalization in its Corporate Corporate Governance implementation stipulated policies pertaining to its operations.
Governance practices, in line with current strategies and developments, in the Law of the Republic of Indonesia No. 40 of
2007 regarding Limited Liability Companies and XL Axiata has a Whistleblowing System that extends
by launching the "Single Registration System" and implementing its implementing regulations, as well as Law of to all employee levels, and an Anti-Bribery and
electronic customs duty stamps, which together create a seamless the Republic of Indonesia No. 8 of 1995 regarding Anti-Corruption Policy that applies to all company
the Capital Market. Furthermore, the Company employees as well as third-party individuals or
process in managing corporate documents, thereby contributing to is accountable to adhere to relevant regulations, stakeholders who engage in business relations with
the implementation of the company's long-term GCG strategy and particularly those issued by the Financial Services XL Axiata.
Authority (OJK) and the Indonesia Stock Exchange.
value for stakeholders. In implementing GCG, XL Axiata refers to laws
The Company follows several internal regulations, and regulations, including capital market authority
including the Articles of Association that have been regulations and best practices, some of which
updated to align with the latest laws and regulations. include, among others:
CORPORATE GOVERNANCE ensure that corporate document management is
COMMITMENT well organized and recorded in accordance with
relevant regulations and market practices.
Good Corporate Governance (GCG) is an ongoing
effort that XL Axiata is committed to implementing Furthermore, XL Axiata initiated the use of electronic
in its daily operational activities. This includes stamps (e-stamps) for corporate documents to
maintaining high customer service standards, complement the digital signatures that had been
managing business and operational activities previously implemented. The combination of these
CORPORATE GOVERNANCE LEGAL REFERENCES
professionally, and continuously improving two technologies is expected to create a more 1. Law No. 8 of 1995 concerning Capital Market.
organizational infrastructure in accordance with efficient process in the execution of corporate 2. Law No. 40 of 2007 concerning Limited Liability Companies.
applicable regulations. Additionally, XL Axiata is documents. 3. Law No. 4 of 2023 concerning the Development and Strengthening of the Financial Sector.
committed to complying with all legal requirements Financial Services Authority Regulations (POJK) and Financial Services Authority Circulars (SEOJK), among others:
to uphold ethical and responsible business conduct. Since 2019, the digitalization of Corporate
4. POJK No. 33/POJK.04/2014 concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies.
Governance has been implemented and has made a 5. POJK No. 34/POJK.04/2014 concerning the Nomination and Remuneration Committee of Issuers or Public Companies.
In 2023, XL Axiata continued to focus on enhancing significant contribution to the Company's long-term 6. POJK No. 35/POJK.04/2014 concerning Corporate Secretary of Issuers or Public Companies.
the digitalization of Corporate Governance GCG strategy. Digitalization has helped XL Axiata 7. POJK No. 8/POJK.04/2015 concerning Website of Issuers or Public Companies.
implementation as one of the GCG principles within maintain business sustainability and increase value 8. POJK No. 21/POJK.04/2015 concerning the Implementation of Public Company Governance Guidelines.
the Company. XL Axiata also updated its GCG for stakeholders. 9. POJK No. 31/POJK.04/2015 concerning Disclosure of Material Information or Facts by Issuers or Public Companies.
Roadmap to align with the Company's strategy and 10. POJK No. 55/POJK.04/2015 concerning the Establishment and Work Guidelines of the Audit Committee.
the latest developments in Corporate Governance XL Axiata believes that adhering to good corporate 11. POJK No. 56/POJK.04/2015 concerning the Establishment and Guidelines for the Preparation of Internal Audit Unit Charter.
practices. governance practices will help the Company achieve 12. POJK No. 29/POJK.04/2016 concerning Annual Report of Issuers or Public Companies.
its goal of becoming the Leading Convergence 13. POJK No. 11/POJK.04/2017 concerning Ownership Report or Any Change in Share Ownership of Public Companies.
14. POJK No. 15/POJK.04/2020 concerning the Plan and Implementation of the General Meeting of Shareholders of Public Companies.
This year, XL Axiata launched a new system called Operator in Indonesia. Moreover, XL Axiata is
15. POJK No. 16/POJK.04/2020 concerning the Implementation of Electronic General Meeting of Shareholders of Public Companies.
the "Single Registration System" or SRS. SRS is committed to complying with regulations by
16. POJK No. 17/POJK.04/2020 concerning Material Transactions and Changes in Business Activities.
a single platform for registering, numbering, and proactively implementing initiatives that prioritize 17. POJK No. 42/POJK.04/2020 concerning Affiliate Transactions and Conflict of Interest Transactions.
categorizing all corporate documents within the socially and environmentally responsible operational 18. SEOJK No. 32/SEOJK.04/2015 concerning Guidelines for Public Company Governance.
organization, integrated with XL Axiata's repository activities. 19. SEOJK No. 16/SEOJK.04/2021 concerning the Format and Content of the Annual Report of Issuers or Public Companies.
system (RMS). With these two systems, we can 20. Roadmap of Indonesian Corporate Governance Guidelines issued by OJK.
21. ASEAN Corporate Governance Scorecard (ACGS) issued by the ASEAN Capital Market Forum (ACMF).
22. Indonesian General Guidelines for Corporate Governance issued by the National Governance Policy Committee (KNKG).
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE CORPORATE GOVERNANCE
GOOD CORPORATE GOVERNANCE PRINCIPLES
In implementing the principles of GCG, XL Axiata has incorporated Digitalization to support the efficiency TRANSPARENCY
development of every process, consistency, and quality of the Company. Moreover, XL Axiata has also referred
to the basic principles of GCG in accordance with the Indonesian Corporate Governance General Guidelines To maintain objectivity in conducting business, the corporation provides material
and relevant information in a way that is easily accessible and understandable by
(PUG-KI) 2021, which have been updated by the National Committee on Governance Policy (KNKG). These
stakeholders. The corporation takes the initiative to disclose not only issues required by
principles are Ethical Conduct, Accountability, Transparency, and Sustainability.
laws and regulations but also matters important for decision-making by shareholders,
creditors, and other stakeholders.
Herewith an explanation of each GCG principle adopted by the Company:
IMPLEMENTATION AT XL AXIATA
ETHICAL CONDUCT
The Company provides all relevant information that may impact the decision-making
In conducting its activities, the corporation always prioritizes honesty, treats all process of its shareholders through various channels such as the Annual Report,
parties with respect, fulfills commitments, and consistently builds and maintains Financial Statements that can be accessed via the IDX website, the Company’s official
moral values and trust. The corporation takes into account the interests of website, and/or newspapers.
shareholders and other stakeholders based on the principles of fairness and
equality and is managed independently so that each corporate body does not
dominate each other and cannot be intervened by others.
IMPLEMENTATION AT XL AXIATA SUSTAINABILITY
The corporation complies with laws and regulations and is committed to fulfilling its
Any decision-making activity in the Company must avoid conflicts of interest. In responsibilities towards society and the environment to contribute to sustainable
cases where any corporate action presents a conflict of interest, it shall only be development through cooperation with all relevant stakeholders to improve their lives
carried out in adherence to the applicable regulations. in a way that aligns with business interests and the sustainable development agenda.
All shareholders in the Company are entitled to impartial and equitable treatment
as stipulated in the current laws and regulations. Furthermore, each shareholder IMPLEMENTATION AT XL AXIATA
and stakeholder have the right to provide feedback and receive the same level of
information concerning the Company.
XL Axiata is dedicated to upholding the principles of Environmental, Social, and
Corporate Governance in all aspects of its operations. With a strong focus on
sustainability and responsible business practices, XL Axiata strives to create a positive
impact on the environment and society, while maintaining high corporate governance
ACCOUNTABILITY standards, reflecting the Company's dedication to long-term value creation and ethical
business conduct.
The corporation can account for its performance transparently and fairly. For this
reason, the corporation must be managed correctly, measurably, and in accordance
with corporate interests while still considering the interests of shareholders and
stakeholders. Accountability is a prerequisite for achieving sustainable performance.
IMPLEMENTATION AT XL AXIATA
DIGITISATION
The Company is accountable for every information submitted to shareholders and The Company is of the opinion that digitalization will enhance business growth,
stakeholders. improve the efficiency of its current processes, and maintain consistency and quality.
It will also enable the organization and its Board Members to evolve and adjust to the
The Company is accountable for any activities implemented by any organ of the ongoing wave of business model disruptions by beginning with the modification of its
Company in accordance with their respective duties and responsibilities. internal governance techniques, Board leadership, structure, and processes.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE CORPORATE GOVERNANCE
CORPORATE GOVERNANCE 8. Conducting socialization of the Anti Bribery Anti GCG ASSESSMENT CORPORATE GOVERNANCE
IMPLEMENTATION IN 2023 Corruption (ABAC) & Gift Donation Sponsorship IMPLEMENTATION
(GDS) self declaration completion and refreshing Asean Corporate Governance Scorecard
To strengthen the implementation of GCG in 2023, training related to the implementation of ABAC (ACGS) FRAMEWORK
XL Axiata carried out the following actions: for employees. In the Fiscal Year 2023, the OECD published new XL Axiata has in place a framework for implementing
9. Holding Annual General Meeting of Shareholders ACGS parameters in October 2023. The ACGS Corporate Governance which can generally be
1. Refinement and updating of the Company's GCG (AGMS). assessment based on these new parameters will be divided into 3 (three) parts, which are:
policies, including Procurement Policy, Risk and 10. Conducting meetings of the Board of Directors, conducted in 2024.
Compliance Committee Charter, Information the Board of Commissioners, Joint Meetings 1. Governance Structure
Security Policy, Human Capital Policy, and Anti- of the Board of Directors and the Board of The latest ACGS Assessment results received by XL A governance structure consisting of the
Bribery and Anti-Corruption Policy. Commissioners, Nomination and Remuneration Axiata for the fiscal year 2021 are as follows. company’s organs and corporate governance
2. Updating information on the Company's Committee Meetings, Transformation Advisory infrastructure.
website, including updates on the Company's Committee Meetings, and Strategy Meetings Assessors 2. Governance Process
policies, core values, changes in the Board of attended by the Board of Commissioners, Board The assessment of GCG implementation based on A process and mechanism of good corporate
Directors, disclosure announcements, Financial of Directors, and leaders one level below the ACGS parameters for fiscal year 2021 was initiated governance implementation, consisting of
Statements, Privacy Policy, AGM-related Board of Directors. by the Financial Services Authority together with awareness, internalization, monitoring and
materials, and information on corporate actions. 11. Organizing annual Public Expose and investor PT Bursa Efek Indonesia by appointing PT RSM evaluation.
3. Updating internal policies and procedures of the gathering for the implementation of Bonds and Indonesia Consultant as the assessment executor. 3. Governance Outcome
Company, including those related to software Sukuk. The result of implementing governance with the
& product development processes, asset 12. Preparing and publishing the 2022 Annual Assessment Criteria ultimate goal of achieving a “good corporate
accounting, VAS Partner service processes Report. ACGS 2021 is sourced from publicly available citizen”.
& service modifications, vendor document 13. Implementing the distribution process of information that can be accessed by external
exception procedures, and Anti-Bribery and dividends for the fiscal year 2022. parties of the Company among the Annual Report,
Anti-Corruption clauses, legal document 14. Implementing a blackout period program to the Company’s website, information disclosure and CORPORATE GOVERNANCE
processes, procedures related to Home Business prevent insider trading. notices issued by the Company published in English STRUCTURE
operations, financial reporting processes, data 15. Updating the Company's Record Management with a deadline until 31 August 2021.
privacy risk audit procedures, data sharing system. XL Axiata has a Corporate Governance structure
and data development lifecycle management, 16. Renewing the Board of Directors' Decisions The assessment is carried out on five aspects, namely that is established based on the functions, authorities
network planning and design processes, regarding the Distribution of Duties and related to the Rights of Shareholders, Equitable and responsibilities each organ in accordance with
customer complaint handling procedures. Authority of the Board of Directors related to Treatment of Shareholders, Role of Stakeholders, Law No. 40 of 2007, Financial Service Authority
4. Developing and renewal of Power of Attorney changes in the composition of the Board of Disclosure and Transparency dan Responsibility of Regulation Related and Articles of Association,
for delegating authority of the Board of Directors and adjustments to changes in the the Board. consisting of:
Directors to internal and external parties in Company's organization.
accordance with the regulations set out in the 17. Creating and preparing reports of share Assessment Results 1. General Meeting of Shareholders as a forum
Articles of Association, Limit of Authority (LOA), ownership and reports of concurrent positions for Shareholders to conduct discussions and
and prevailing laws and regulations. for members of the Board of Commissioners, decision-making related to XL Axiata.
5. Conducting training and/or competency Board of Directors, and Committees under the In the assessment of the ASEAN Corporate 2. The Board of Commissioners as an organ that
enhancement for the Board of Directors, the Board of Commissioners. Governance Scorecard (ACGS) for fiscal year serves to conduct supervision over the company
Board of Commissioners, and committee 18. Ensuring there are no conflicts of interest in 2021, the results of which were received by the management by the Board of Directors.
Company in early 2023, the Company obtained
members under the Board of Commissioners, corporate actions by preparing a declaration of a score of :
3. The Board of Directors, as an organ of the
including topics on Indonesian Economic no conflict of interest for the Board of Directors Company, functions to manage XL Axiata and
and the latest developments in the global and the Board of Commissioners for affiliate represents XL Axiata.
Telecommunications industry. transactions conducted by the Company in
6. Conducting Board Induction for new members
of the Board of Directors related to GCG aspects 19.
2023.
Implementation of the Company's compliance
95.15 These three organs constitute the primary organs in
the Company’s business system. In carrying out its
in the Company. with capital market regulations on the functions, duties and responsibilities, the Board of
7. Integrating Single Registration System across implementation of the Company's corporate Commissioners and Board of Directors may establish
all lines of the Company with the Document actions in 2023. the supporting organs.
Record Management system.
126 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 127
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
GENERAL MEETING OF
CORPORATE GOVERNANCE
SHAREHOLDERS
XL Axiata’s GCG structure is broadly divided into Main Organs and Supporting Organs as follows:
Corporate Governance Structure
General Meeting
of Shareholders
Board of
Board of Director
Commissioners
Nomination & Risk and The General Meeting of Shareholders (GMS) is a Based on the Articles of Association, and subject to
President Directors Remuneration Audit Committee Compliance corporate organ with authority not granted to the the prevailing laws and regulation, the GMS has the
Committee Committee Board of Directors or the Board of Commissioners authority to:
within the limits defined in the Articles of Association
and relevant laws and regulations. 1. Approve the Annual Report, which includes the
Company’s course of business, as well as the
Company
Directors Corporate The GMS serves as a forum for Shareholders to exercise Board of Commissioners’ Supervisory Activity
Secretary their rights, execute authority, express opinions, vote, Report during the fiscal year, as detailed in the
and request information related to strategic decision- Company’s Integrated Annual Report.
making or the management of XL Axiata. 2. Ratify the financial statements, comprising of
Board of Directors the balance sheet and income statement of the
Committee Internal Audit
There are two types of RUPS at XL Axiata: the financial year, audited by a public accountant.
Annual GMS (AGMS) and the Extraordinary GMS 3. Provide approval for the proposed use of the
(EGMS). The Extraordinary GMS can be held at any Company’s profits.
time based on the needs of the Company, taking 4. Appoint, or delegate the Board of Commissioners
Risk & Compliance
into account the regulations and the Company's to appoint, a Public Accountant for the current
Articles of Association. year.
5. Appoint and/or dismiss members of the Board
of Directors and Board of Commissioners, if
THE RIGHTS AND AUTHORITY necessary.
OF SHAREHOLDERS IN THE 6. Determine the remuneration for members
of the Board of Directors and the Board of
GMS Commissioners.
7. Approve other GMS agendas as duly proposed
The Company’s Shareholders have the rights to in accordance with the provisions of the Articles
attend the GMS as a self-representative or through of Association.
authorized proxies by using Proxy available in the
Company’s official Website (www.xlaxiata.co.id)
with the issuance of the GMS Invitation.
128 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 129
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
GENERAL MEETING OF SHAREHOLDERS GENERAL MEETING OF SHAREHOLDERS
Furthermore, Shareholders have the following rights regulations and/or amendments of business EFFORTS IN ENCOURAGING PARTICIPATION OF SHAREHOLDERS
in the Extraordinary GMS to: activities;
1. Approve the merger, consolidation, acquisition, 6. Approve distribution of new shares in portfolio; The Company grants its Shareholders access to information and materials related to the GMS in the Company’s
and separation, filing for bankruptcy over the 7. Approve plan and results allocation from funding website. Materials related to the agenda discussed in the GMS are also available in the Company’s website from
Company, the extension of the period of the activity; the date of the GMS Invitation.
Company, dissolution and liquidation. 8. Approve the proposed corporate action in
2. Appoint and terminate members of the Board of accordance with prevailing regulations. The Company is implementing e-GMS as a means to facilitate virtual attendance for shareholders during
Directors and/or Board of Commissioners; 9. For transactions that may involve conflicts the GMS, regardless of their location. This approach differs from holding offline GMS, which could impose
3. Ratify the amendment of Articles of Association; of interest, approval must be granted by the restrictions on shareholder attendance.
4. Approve additional Authorized Capital and/or Independent Shareholders or their authorized
Issued and Paid-Up Capital; representatives in the GMS.
5. Approve material transaction based on GMS CODE OF CONDUCT
authority threshold as regulated under prevailing
The GMS Code of Conduct is published and explained prior to the GMS that include explanations of meeting
chairman, meeting agenda, and voting mechanism and procedures in the GMS.
EQUAL TREATMENT OF SHAREHOLDERS
GMS QUORUM
The Company practices equal treatment towards all shareholders by ensuring they have access to the same
information and voting mechanisms based on the number of shares held, in accordance with the portion of The Company’s GMS quorum refers to the Articles of Association and prevailing regulations, as follows.
its respective share ownership.
GMS Quorum for Several Corporate Actions
GMS IMPLEMENTATION FIRST GMS SECOND GMS
Stages of XL Axiata GMS Organization NO. CONDITIONS ATTENDANCE APPROVAL ATTENDANCE APPROVAL
>1/2 2/3 3/4 >1/2 >2/3 >3/4 >1/2 1/3 2/3 3/5 >1/2 >2/3 >3/4
1 Amendments to the N N N N
5 working days* 21 days** Articles of Association
2 Additional Authorized N N N N
Capital
01 02 03 04 05 06 3 Additional Paid-up and N N N N
Issued Capital
4 Ratification of Annual N N N N
Notification to GMS GMS Invitation AGMS Announcement Summary
Report and Financial
OJK Regarding Announcement of GMS of GMS
GMS Agenda Summary sent to Statements
OJK 5 Use of Net Profit N N N N
6 Dismissal of Members of N N N N
the Board of Directors
7 Takeover of Company N N N N
Management by the Board
of Commissioners
14 days** 2 working days
8 Transfer or pledge 50% or N N N N
30 days more of the Company’s
assets from net worth
* By excluding GMS announcement date
** By excluding announcement data and invitation date
*** By excluding invitation date and GMS date
130 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 131
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
GENERAL MEETING OF SHAREHOLDERS GENERAL MEETING OF SHAREHOLDERS
FIRST GMS SECOND GMS ANNUAL GENERAL MEETING Chairman of the Meeting
NO. CONDITIONS ATTENDANCE APPROVAL ATTENDANCE APPROVAL OF SHAREHOLDERS 5 MAY The Meeting was chaired by Mr. Muhamad Chatib
Basri. President Commissioner of the Company, who
>1/2 2/3 3/4 >1/2 >2/3 >3/4 >1/2 1/3 2/3 3/5 >1/2 >2/3 >3/4 2023 was appointed based on the resolution of the Board
9 Mergers, Consolidations, N N N N of Commissioners Meeting on 17 February 2023.
Acquisitions, and Fulfilment of Legal Procedures for
Separations Meeting Convention Management Attendance
10 Insolvency, Dissolution 1. Notification of Meeting Agenda to OJK on 10 All Members of the Board of Directors and Members
N N N N
March 2023; of the Board of Commissioners have attended the
11 Extension request N N N N 2. Announcement of Meeting on 21 March 2023; GMS meeting both physically and electronically.
establishment of the 3. Invitation for the Meeting on 6 April 2023,
duration of the Company
including the materials that will be presented at Other Parties
12 Conflict of Interest N N N N the Meeting; The Company has appointed other parties in this
*for Independent GMS The entire Announcement and Invitation to the Meeting, among others:
Meeting are published through the Company’s 1. Mr. Aulia Taufani, S.H. as a Public Notary;
website, the Indonesia Stock Exchange’s website, 2. PT Datindo Entrycom as the Share Registrar
and through the eASY.KSEI system. which has been appointed for the Meeting of
QUESTIONS AND ANSWERS ELECTRONIC VOTING the Company; and
DURING THE GMS Meeting Agenda 3. Public Accounting Firm Tanudiredja,
For the Shareholders who authorize the proxy with 1. Approval on the Company's annual report Wibisana, Rintis & Rekan (a member of the
In every implementation of the GMS, both the Annual e-proxy mechanism through eASY.KSEI application, including the board of Commissioners' PricewaterhouseCoopers networks of firms) as
GMS and the Extraordinary GMS, the Company are considered exercising their rights through the Supervisory Report as well as Ratification of the Public Accounting Firm
provides an opportunity for attending shareholders eASY.KSEI application. Company’s Financial Statement for the fiscal 4. Ginting & Rekso diputro in association with Allen
to ask questions related to the agenda of the Meeting year ended on 31 December 2022, and granting & Overy as Legal Consultant.
which will be answered or responded to by the For the Meeting Participants who attended of full release and discharge (volledig acquit
Company. Shareholders who wish to ask questions electronically through eASY.KSEI application, et de Charge) to all Members of the Board of Attendance Quorum
to the Company during an electronically-held GMS the voting process took place through the eASY. Directors and the Board of Commissioners The Meeting was attended by shareholders or proxy
may do so through the eASY.KSEI application. KSEI application on the E-Meeting Hall me, Live from the management and supervisory actions holders of 10,593,038,934 shares, or 81.036% of the
Furthermore, this question and answer process is Broadcasting submenu (hereinafter referred to as carried out for the fiscal year of 2022. total 13,128,430,665 shares issued by the Company.
recorded and documented in the Minutes of the GMS “eASY.KSEI e-voting”). 2. Approval on the Allocation of the Company’s
which are prepared by a Notary appointed by the Net Profit for Fiscal Year ended on 31 December Opportunity to Raise Question
Company. After the voting for the Meeting Agenda was 2022. During the Meeting, the Company has provided
completed, all votes cast by the Meeting’s 3. Appointment of Accounting Firm and/or public the opportunity for shareholders or proxy's holder
Regulations regarding this question and answer Participants, either through e-Proxy eASY.KSEI and accountant to perform audit on the Company's to be able to ask question(s) opinion(s) related to
process are stated in the Articles of Association, e-Voting eASY.KSEI will be counted by the Share Financial Statement for Fiscal year ended 31 the discussion of each agenda of the Meeting Until
GCG Manual, and GMS Rules of Procedure. Registrar and the voting calculations results will be December 2023 and other Financial Statements the end of the session of the Meeting there were
verified by the Notary (the Securities Administration Audit as required by the Company. 2 (two) shareholders or proxy’s holders who raised
Bureau and Notary are independent parties). 4. Accountability Report on the Realization of the question(s) and/or opinion(s) on first agenda.
Further, the Notary will announce the results of the Use of Proceeds of (1) Shelf Bonds II XL Axiata
vote count to the Meeting’s Participants. Tranche I of 2022, (2) Shelf Sukuk Ijarah III Decision Making Mechanism
Tranche I of 2022, And (3) Capital Increase with Decision making is conducted by e-Voting on the
Rights Issue III of PT XL Axiata Tbk. eASY.KSEI platform.
5. Determination of Remuneration for the Members
of the Board of Directors and the Board of This Summary of Minutes is a fulfillment of the Financial
Commissioners for 2023. Services Authority Regulation No. 15/POJK.04/2020
6. Approval of the change to the members of regarding the Plan and Implementation of the General
Directors and/or Board Commissioners of the Meeting of Shareholders of Public Companies and
Company. Financial Services Authority Regulation No. 16/
POJK.04/2020 regarding the Implementation of the
Electronic General Meeting of Shareholders of Public
Companies.
132 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 133
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
GENERAL MEETING OF SHAREHOLDERS GENERAL MEETING OF SHAREHOLDERS
RESOLUTIONS OF THE ANNUAL 2. Allocation on Reserve Fund amounting 6th Agenda SUMMARY OF THE ANNUAL
GENERAL MEETING OF Rp100,000,000 (one hundred million Rupiah); and 1. Accepted the resignation and grant full release GENERAL MEETING OF
SHAREHOLDERS, 5 MAY 2023 3. The remaining of Rp557,613,000,000 (five and discharge (acquit et de charge) to Budi
hundred fifty-seven billion six hundred thirteen Pramantika as the Director of the Company SHAREHOLDERS 22 APRIL
AGMS Convention Results: All AGMS results have million Rupiah) (rounded) will be recorded as or his respective supervisory duties from his 2022 RESOLUTIONS
been fully implemented by the Company. Retained Earnings to support the Company's appointment as the member of the Board of
business development. Directors of the Company until the end of his Implementation of AGMS Result: All of the results
1st Agenda terms of office or effective as of the closing of the AGMS have been fully implemented by the
1. Approved and accepted the Annual Report 3rd Agenda of this Meeting, to the extent those actions Company.
of the Company's Board Of Directors on the 1. Appointed Public Accounting Firm Tanudiredja, reflected in the Annual Report and recorded in
activities and course of events Of the Company, Wibisana, Rintis and Partners (member of the Company's Financial Statement and not a 1st Agenda
including but not limited to the results that have PricewaterhouseCoopers) as the Company criminal offense or breach of the prevailing laws 1. Approved and accepted the Annual Report
been achieved during the financial year ended external auditor with Mr. Lok Budianto, S.E., and regulations; of the Company's Board Of Directors on the
31 December 2022, the Supervisory Report Ak., CPA as the Public Accountant to perform 2. Appointed Feiruz Ikhwan as the Director of the activities and course of events Of the Company,
Of the Company's Board of Commissioner for audit on the Company's Financial Statements Company replacing Budi Pramantika effective as including but not limited to the results that have
financial year 2022 as well as to approve and for Financial Year ended on 31 December 2023 of the closing of this Meeting until the end of been achieved during the fiscal year ended 31
ratify the Company's Financial Statements and other Financial Statements as required by term of Directors upon the closing of the Annual December 2021, the Supervisory Report of the
for the financial year ended on 31 December the Company; and General Meeting of Shareholders which will be Company's Board of Commissioner for fiscal
2022 as audited by Public Accounting Firm 2. Granted authority to the Board of Commissioners held in 2024; year 2021 as well as to approve and ratify the
Tanudiredja, Wibisana, Rintis & Partners; and and/or Board of Directors of the Company 3. With the approval of the resignation and without Company's Financial Statements for the fiscal
2. Approved to grant full release and discharge to take necessary action and arrangements, prejudice to the right of the Company's General year ended on 31 December 2021 as audited by
(volledig acquit et de charge) for the members including but not limited to determine the Meeting of Shareholders to dismiss each of Public Accounting Firm Tanudiredja, Wibisana,
of the Company's Board of Directors upon the amount of professional fee, signing documents, the members of Directors and/or the Board of Rintis & Partners; and
management and members Of the Company's or appoint other Public Accounting Firm listed Commissioners, the composition of the Board of 2. Approved to grant full release and discharge
Board Of Commissioners upon the supervision in the Financial Services Authority if for one or Directors of the Company as of the closing of this (volledig acquit et de charge) for the members
that has been conducted in the fiscal year ended another reason the above-mentioned public Meeting is as follows: of the Company's Board of Directors upon the
on 31 December 2022, as long as those actions accounting firm is not able to carry out their › President Director: Dian Siswarini management and members of the Company's
reflected in the Annual Report and recorded in duties. › Director: Board of Commissioners upon the supervision
the Company's Financial Statement and not a - Feiruz Ikhwan that has been conducted in the fiscal year ended
criminal offense or a breach of the prevailing 4th Agenda - Abhijit J. Navalekar on 31 December 2021, as long as those actions
laws and regulations. This agenda does not require any vote from the - Yessie D. Yosetya reflected in the Annual Report and recorded in
Shareholders. - David Arcelus Oses the Company's Financial Statement and not a
2nd Agenda - I Gede Darmayusa criminal offense or a breach of the prevailing
1. Approved allocation of the Company's net profit 5th Agenda 4. Authorized with right of substitution to the laws and regulations.
for the fiscal year ended 31 December 2022 as 1. Granted authorization to the Company's member of the Directors of the Company to
per following details: Board of Commissioners to determine the state the this meeting resolution in relation with 2nd Agenda
a. 50% of normalized net profit after tax and remuneration, bonus, and other benefit for the change on composition of the Directors 1. To approve allocation of the Company's net
minority interest (normalized PATAMI) with the members of the Company's Board of Directors of the Company in the deed of Resolution profit for the fiscal year ended 31 December 2021
amount of Rp551,726,000,000 (five hundred based on structure and amount of remuneration Statement of the Meeting made before a Notary as per following buckets:
fifty-one billion seven hundred twenty-six as stipulated under the Company's remuneration and submit the notification on the change of a. 50% of normalized net profit or
million Rupiah) (rounded) will be distributed to policy for year ended on 31 December 2023; Company's data to the Minister of Law and Rp552.075.000.000 (five hundred fifty-
shareholders as dividend, equivalent to Rp42 and Human Rights of the Republic of Indonesia to two billion seventy-five million Rupiah)
(forty-two Rupiah) per share. 2. Granted authorization to the Company's obtain letter of receipt of notification on the (rounded) will be distributed to shareholders
b. Grant authorization and power to Company's Nominating and Remuneration Committee to change of Company’s data from the Minister as dividend, equivalent to Rp57 (fifty-one
Board of Directors with substitution rights determine the remuneration, bonus and other of Law and Human Rights of the Republic of Rupiah) per share.
to decide on schedule including terms benefits for the members of the Company's Indonesia. b. Granted authorization and power to
and conditions of dividend pay-out to all Board of Commissioners based on structure Company's Board of Directors with
shareholders duly eligible based on the and amount of remuneration as stipulated under substitution rights to decide on schedule
prevailing regulations the Company's remuneration policy for financial
year ended by 31 December 2023.
134 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 135
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
GENERAL MEETING OF SHAREHOLDERS GENERAL MEETING OF SHAREHOLDERS
including terms and conditions of dividend Board of Commissioners based on structure g. Listed all the Company’s issued and fully 2. With the approval of the resignation as
pay-out to shareholders duly eligible based and amount of remuneration as stipulate under paid shares with the Indonesia Stock mentioned above, the composition of the Board
on the prevailing regulations the Company's remuneration policy for financial Exchange (IDX); and of Commissioners of the Company as of the
2. Allocation on Reserve Fund amounting year ended by 31 December 2022. h. Took all necessary and/or required actions closing of this Meeting is as follows:
Rp100,000,000 (one hundred million Rupiah); in relation with PUT III, including any · President Commissioner: Dr. Muhamad
and requirements under the applicable laws and Chatib Basri
3. The remaining of Rp735.632.000.000 (seven SUMMARY OF THE regulations. · Commissioner: Dr. Hans Wijayasuriya
hundred thirty-five billion six hundred thirty- EXTRAORDINARY GENERAL (Shridhir SariputtaHansa Wijayasuriya)
two million Rupiah) (rounded) will be recorded 2nd Agenda · Commissioner: Vivek Sood
as Retained Earnings to support the Company's MEETING OF SHAREHOLDERS 1. Approved the amendment to Article 4 paragraph · Commissioner: Dr. David Robert Dean
business development. 10 AUGUST 2022 (2) of the Company’s Articles of Association on · Independent Commissioner: Yasmin
RESOLUTIONS the increase of issued and paid-up capital, in Stamboel Wirjawan
3rd Agenda relation with the Pre-emptive Rights. · Independent Commissioner: Muliadi
1. Appointed Public Accounting Firm Tanudiredja, 2. Approved the granting of authority to the Board Rahardja
Wibisana, Rintis and Partners (member of Implementation of EGMS Result: All of the results of Commissioners to declare the realized total · Independent Commissioner: Julianto
PricewaterhouseCoopers) as the Company of the EGMS have been fully implemented by the shares that will have been issued pursuant to Sidarto
external auditor with Mr. Lok Budianto, S.E., Company. the exercise of Pre-emptive Rights; and 3. Authorized with right of substitution to the
Ak., CPA as the Public Accountant to perform 3. Approved to authorize the Directors to state Board of Directors of the Company to state
audit on the Company's Financial Statement for 1st Agenda the resolutions on the amendment to Article this meeting resolution in relation with the
Fiscal Year ended on 31 December 2022 and 1. Approved the Company’s plan to increase 4 paragraph (2) in the Company’s Articles of change on composition of the Board of
other Financial Statements as required by the capital with Pre-Emptive Rights through PUT Associations in the form of notarial deed. Commissioners of the Company in the deed
Company; and III mechanism with a maximum 2.750.000.000 of Resolution Statement of the Meeting made
2. Granted authority to the Board of Commissioners new shares with the nominal value of IDR 100 3rd Agenda before a Notary and submit the notification on
and/or Board of Directors of the Company per share based POJK No. 32/2015; and. 1. Accepted the resignation, grant release and the change of Company’s data to the Minister
to take necessary action and arrangements, 2. Granted authority to Board of Directors (“BOD”) discharge (acquit et de charge) to Dato’ Mohd. of Law and Human Rights of the Republic of
including but not limited to determine the to take all necessary actions related to Limited Izzaddin Bin Idris as the Commissioner of the Indonesia in order to obtain the letter of receipt
amount of professional fee, signing documents, Public Offering (“PUT III”), including but not Company on his respective supervisory duties of notification on the change of Company’s data
or appoint other Public Accounting Firm listed limited to: from his appointment as the member of the from the Minister of Law and Human Rights of
in the Financial Services Authority if for one or a. Determined the certainty of the number of Board of Commissioners of the Company as the Republic of Indonesia.
another reason the above-mentioned public shares issued in relation with PUT III (with of resignation letter on 31 May 2022, to the
accounting firm is not able to carry out their approval of the Board of Commissioners); extent those actions were reflected in the
duties. b. Determined the exercise price in relation Annual Report and recorded in the Company’s
with PUT III; Financial Statement and do not constitute a
4th Agenda c. Determined the certainty of PUT III schedule; criminal offense or violate the prevailing laws
1. Granted authorization to the Company's d. Sign all documents required in relation and regulations; and
Board of Commissioners to determine the with PUT III for submitting the registration
remuneration, bonus, and other benefit for statement to OJK;
members of the Company's Board of Directors e. Negotiated and sign other agreements
based on structure and amount of remuneration relating to the standby buyer with terms
as stipulate under the Company's remuneration and conditions that are deemed beneficial
policy for year ended on 31 December 2022; for the Company by BOD of the Company;
and f. Consigned the Company’s shares to the
2. Granted authorization to the Company's collective custody of KSEI in accordance
Nominating and Remuneration Committee to with the Indonesian Central Securities
determine the remuneration, bonus and other Depository’s regulations;
benefits for the members of the Company's
136 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 137
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS
BOARD OF COMMISSIONERS
BOARD OF COMMISSIONERS PROFILES
The following are the Board of Commissioners profiles as of 31 December 2023:
Pursuant to the Company's Articles of Association, the Board of Commissioners is a corporate organ that is Dr. M. Chatib Basri
directly responsible to the General Meeting of Shareholders (GMS) and has the duty to supervise and advise the President Commissioner
Board of Directors. The primary responsibility of the Board of Commissioners is to ensure that the Company is
managed in line with its business purposes and objectives, as well as to monitor and evaluate the Company's
Age › Senior Partner and Founder, Creco Research
GCG practices. 58 years old as of December 2023 (2010 – present).
› Senior Lecturer, Fakultas Ekonomi Universitas
Nationality
Indonesia (1992 – present).
Indonesian
LEGAL REFERENCES › Independent Non-Executive Director, Axiata
Domicile Group Berhad (2015 – 2020)
Jakarta, Indonesia › Committee Member at the Advisory Council,
1. Law No. 40 Year 2007 on Limited Liability Company.
Mandiri Institute (2015-2020)
2. OJK Regulation No. 33/POJK.04/2014 on the Board of Directors and the Board of Commissioners of Issuers Legal Basis of Appointment › Senior Fellow Harvard Kennedy School, Harvard
or Public Company. Resolution of Annual General Meeting of Kennedy School (2015 – 2016).
3. Articles of Association of the Company. Shareholders dated 29 April 2019 › Commissioner, XL Axiata (April 2015 – September
4. Board Manual & Code of Ethics of the Company 2016).
Terms of Office
› Minister of Finance of Republic Indonesia, Ministry
29 April 2019 until the closing of Annual General
of Finance of Republic Indonesia (2013 – 2014).
Meeting of Shareholders 2024.
› Chairman of Investment Coordination Board,
BOARD OF COMMISSIONERS COMPOSITION Appointment History in the Company Investment Coordination Board of Republic of
› President Commissioner, Second Term, appointed Indonesia (2012 – 2013).
The Board of Commissioners consists of at least two members, including Independent Commissioners, whose at the Annual General Meeting of Shareholders › Commissioner, XL Axiata (2011 – 2012).
dated 29 April 2019, terms of office 29 April
number is adjusted to the requirements of the prevailing laws and regulations in the capital market sector. If Multiple Board Membership
until the closing of Annual General Meeting of
more than one member of the Board of Commissioners is appointed, one of them may be appointed as the Shareholders 2024. › President Commissioner/independent at
President Commissioner. › President Commissioner, First Term, appointed PT Bank Mandiri (Persero) Tbk.
at the Extraordinary General Meeting of › Co-Chair of The Governing Board of The
The composition of the Board of Commissioners as of 31 December 2023 is as follows: Shareholders dated 29 September 2016, terms of Pandemic Fund (World Bank)
office 2016 – 2019. › Committee Member at the Advisory Council on
NAME POSITION BASIS FOR APPOINTMENT TERM OF OFFICE › Commissioner, First Term, appointed at the Gender and Development, World Bank.
Dr. Muhamad Chatib Basri President Commissioner EGMS 16 September 2016 2019-2024 Annual General Meeting of Shareholders dated 1
April 2015, terms of office 2015 – 2016. Affiliate Relationsi
Dr. Hans Wijayasuriya Commissioner AGMS 18 May 2020 2020-2024 None.
› Commissioner, First Term, appointed at the
Vivek Sood Commissioner AGMS 29 April 2019 2019-2024 Annual General Meeting of Shareholders dated 14
April 2011, terms of office 2011 – 2012. Association Membership
Dr. David Robert Dean* Commissioner AMGS 29 April 2019 2019-2024 None.
Yasmin Stamboel Wirjawan Independent Commissioner AMGS 29 April 2019 2019-2024 Education
› PhD. in Economics from Australian National Training or Competencies Development in 2023
Muliadi Rahardja Independent Commissioner AMGS 29 April 2019 2019-2024 University, 2001 › World Economic Forum, Davos Swiss, 16 - 20
Julianto Sidarto Independent Commissioner AMGS 29 April 2019 2019-2024 › Master of Economic Development from Australian January 2023
National University, 1996 › Sharing Session Cyber Attack, Jakarta, 8 June
› Bachelor’s Degree in Economics from Universitas 2023
*) Effectively resigned as of 24 December 2023
Indonesia, 1992 › Refreshment Program : Cyber Security, Jakarta,
26 July 2023
Professional Background › Bank Mandiri BOC Retreat 2023, Bali, 15
› Co-Chair of The Governing Board of The December 2023
Pandemic Fund (World Bank) (2022-present) › Indonesian Economic Political Update, XL Axiata
› President Commissioner/Independent Tower, 10 May 2023
Commissioner, PT Bank Mandiri (Persero) Tbk › Indonesia Telecom Industry, XL Axiata Tower, 10
(2020 – present). May 2023
› Committee Member at the Advisory Council › Sharing Session by Ericsson 5G India Journey, XL
on Gender and Development, World Bank Axiata Tower, 22 November 2023
(2016-present) › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› President Commissioner, XL Axiata (2016 – Refresher, Disprz, 31 December 2023
present).
138 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 139
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
Dr. Hans Wijayasuriya
Commissioner
Age › Commissioner, XL Axiata, (2020 – present) Multiple Board membership Training and Competence Development in 2023
55 years old as of December 2023 › CEO of Telecommunications Business & Group › President Commissioner, PT Link Net Tbk 1. 2023 Mobile World Congress, Barcelona, 27
Executive Vice President, Axiata Group Berhad, › Committee Member at: February 2023.
Nationality (2020 – present) 1. Axiata Board Investment Committee of Axiata 2. TM Forum in Bangkok (as a speaker), Bangkok,
British › Director, Celcom Axiata Berhad, (2020 – 2022) Group Berhad. Thailand, 14 March 2023.
› Director, Sri Lankan Airlines Limited, (2020 – 2. Nomination and Remuneration Committee of 3. Axiata Board Jakarta Offsite Visit, XL Jakarta
Domicile present) XL Axiata. Indonesia: Indonesian Economic and Political
Colombo, Sri Lanka › Honorary Head, Sri Lanka Unique Digital Identity 3. Nomination and Remuneration Committee of Update by Muhamad Chatib Basri, Jayawijaya
Programme, (2020 – present) PT Link Net Tbk Room, 36th Floor, XL Axiata Tower, Jakarta,
Legal Basis of Appointment
› Director, Survitec Co., Ltd., (2019 – 2022) 4. Capital Investment and Procuremen Indonesia, 10 May 2023.
Resolution of Annual General Meeting of Shareholders
› Director, Axiata Digital Labs (Private) Limited, (2018 Management Committee of Dialog Axiata PLC 4. Axiata Board Jakarta Offsite Visit, XL Jakarta
dated 18 May 2020
– present) 5. Board Nomination and Remuneration Indonesia: Indonesia Telecom Industry Update
Terms of Office › Trustee, Sigiri Trust, (2018 – present) Committee of Robi Axiata Limited by BCG, Jayawijaya Room, 36th Floor, XL Axiata
18 May 2020 until the closing of Annual General › Director, Smart Axiata Co., Ltd. (2017 – present) 6. Chairman of Board Risk and Compliance Tower, Jakarta, Indonesia, 10 May 2023.
Meeting of Shareholders 2024 › Limited Partners Advisory Committee, SADIF LP, Committee of Ncell Axiata Limited 5. Board ESG Governance: Navigating the
(2017 – present) 7. Board Nomination and Remuneration Board’s role in ESG KPIs, GRC and Executive
Appointment History in the Company › Director, Robi Axiata Limited, (2016 – present) Committee and Executive Committee of Compensation? By PWC, 28 April 2023.
Commissioner, appointed at the Annual General › Director, Ncell Axiata Limited, (2016 – present) Smart Axiata Co., Ltd. 6. Guest Speaker session – “What Worked for
Meeting of Shareholders dated 18 May 2022, terms of › Director, Axiata Business Services Sdn Bhd, (2016 Deutsche”, presented by Niek Jan Van Damme,
office 18 May 2020 until the closing of Annual General – present) Affiliate Relations Board of Telstra and ex-Board of Management,
Meeting of Shareholders 2024. › Director, Apigate (Private) Limited, (2016 – present) › Group Chief Executive Officer and CEO of Deutsche Telekom at the Board Retreat [No.
› Corporate EVP & Regional CEO, South Asia, Axiata Telecommunications Business & Group Executive 8-23], M Resort & Hotel Kuala Lumpur, Malaysia,
Education Group Berhad, (2016 – 2020) Vice President, Axiata Group Berhad. 12 July 2023.
› PhD in Digital Mobile Communications from › Director, John Keells Holdings PLC, (2016 – present) › Director of: 7. Axiata GR&C Annual Conference 2023 –
University of Bristol UK, 1994. › Director, Apigate Inc., (2015 – present) 1. Smart Axiata Co., Ltd. Navigating Risk Horizons building resilience for a
› Chartered Engineer and Fellow from Institute of › Director, Sigiriya Residencies (Private) Limited, 2. Axiata Digital Labs (Private) Limited thriving future organize by Axiata Group Risk and
Engineering Technology UK, 2004. (2015 – present) 3. PT Link Net Tbk. Compliance, Virtual, 31 July 2023.
› MBA from University of Warwick UK, 2003 › Director, Axiata Digital & Analytics Sdn Bhd, (2014 4. CelcomDigi Berhad (Formerly known as Digi. 8. M360 APAC, Seoul:
› Bachelor’s Degree in Electrical and Electronic – present) Com Berhad) › Keynote Speaker: Leading on Open Digital
Engineering from University of Cambridge UK, 1989. › Chief Executive Officer, Axiata Digital Services Sdn 5. Dialog Axiata PLC Nation: Connectivity & Beyond
Bhd, (2012 – 2014) 6. Robi Axiata Limited › Panel for Digital Leaders Fireside Chat, Seoul,
Professional Background › Director, Tangalle Leisure (Private) Limited, (2012 – 7. edotco Group Sdn Bhd Korea, 7 September 2023
› Group Executive Director and Chief Executive present) 8. Axiata Enterprise Sdn Bhd (Formerly known as 9. Introduction to 5G Opportunities by McKinsey, 11
Officer for Telecommunications Business, Axiata › Trustee, Dialog Foundation, (2012 – present) Axiata Business Services Sdn Bhd) October 2023
Group Berhad, 2023 – present. › Director, Sigiriya Leisure (Private) Limited, (2011 – 9. Axiata Investments 1 (India) Limited 10. Artificial Intelligence presented by Stephen
› President Commissioner, PT Link Net Tbk, (Juni present) 10. Axiata Investments 2 (India) Limited (in Rose, IBM at the Board Retreat [No. 15-23],
2022 – present) › Director, Axiata Investments 1 (India) Limited, (2010 winding up process) Conservatory Room, EQ Hotel Kuala Lumpur,
› Member of Nomination and Remuneration – present) 11. Axiata Lanka (Private) Limited Malaysia, 8 November 2023.
Committee, XL Axiata, (2022 – present) › Director, Axiata Investments 2 (India) Limited, (2010 12. Apigate Inc. 11. CelcomDigi Board Strategy Workshop in
› Joint Acting Group Chief Executive Officer, Axiata – present) 13. Apigate (Private) Limited CelcomDigi Office, CelcomDigi Tower, Petaling
Group Berhad, (2022 – 2023) › Trustee Present, Colours of Courage Trust 14. Dialog Foundation Jaya, Selangor, Malaysia, 16 November 2023.
› Director, Celcom Digi Berhad (formerly known as (Guarantee) Limited, (2009 – present 12. Sharing Session by Ericsson 5G India Journey,
Digi.com Berhad), (2022 – present) › Director, Dialog Axiata PLC, (2001 – present) Association Membership Semeru Room, 36th Floor, XL Axiata Tower,
› Chairman of Transformation Advisory Committee, › Director, Axiata Lanka (Private) Limited, (1998 – None. Jakarta, Indonesia, 22 November 2023.
XL Axiata, (2021 – February 2024) present)
› Member, National Innovation Commission of Sri › Group Chief Executive Officer, Dialog Axiata PLC,
Lanka, (2021 – present) (1997 – 2016)
140 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 141
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
Vivek Sood
Commissioner
Age › Director, Axiata Lanka (Private) Limited (2017 – present) Affiliate Relations › Axiata GR&C Annual Conference 2023 – Navigating
59 years old as of December 2023 › Director, Axiata Investments (Indonesia) Sdn Bhd › Group Chief Executive Officer and Managing Director, Risk Horizons building resilience for a thriving future
(2017 – present) Axiata Group Berhad organize by Axata Group Risk and Compliance, Virtual,
Nationality
Indian › Director, Axiata Investments (Cambodia) Sdn Bhd › Director: 31 July 2023
(2017 – present) 1. Robi Axiata Limited (Chairman) › ADA Offsite
Domicile › Director, Axiata Digital Services Sdn Bhd (2017 – 2. Boost Holdings Sdn Bhd (Chairman) › External Speaker: Databricks by Ed Lenta, Databricks
Kuala Lumpur, Malaysia present) 3. Axiata Digital & Analytics Sdn Bhd (Chairman) SVP
Legal basis of Appointment › Director, Axiata Digital Labs Sdn Bhd (sebelumnya 4. CelcomDigi Berhad (formerly known as Digi. › External Speaker: Treasure Data by Kazuki Ohta,
Resolution of Annual General Meeting of Shareholders Axiata Management Services Sdn Bhd) (2017 – com Berhad) Treasure Data CEO Ritz Carlton, Langkawi, Kedah,
dated 29 April 2019. present) 5. Dialog Axiata PLC Malaysia, 12 August 2023
› Director, Axiata SPV4 Sdn Bhd (2017 – present) 6. Axiata Digital Services Sdn Bhd › Understanding the new IFRS Sustainability Disclosure
Appointment History in the Company 7. Axiata Lanka (Private) Limited
› Director, Axiata Management Services Sdn Bhd (2017 Standards (ISSB) by Manohar Benjamin, Farhana
› Commissioner, Term 2, appointed at the Annual – present) 8. Axiata Foundation (Trustee) Jabir and David Toh from PricewaterhouseCoopers
General Meeting of Shareholders dated 29 April
› Director, Robi Axiata Limited (2017 – present) Association Membership Malaysia, Axiata Board Room, Level M, Kuala Lumpur,
2019, terms of office 29 April 2019 until the closing of
› Director, Axiata (Cambodia) Holding Limited (2017 – None Malaysia, 22 August 2023.
Annual General Meeting of Shareholders 2024.
present) › CelcomDigi MY5G CEO Roundtable, Hilton Kuala
› Commissioner, Term 1, appointed at the Annual Trainings or Competencies Development in 2023
› Director, Reynolds Holdings Limited (2017 – present) Lumpur, Malaysia, 22 August 2023.
General Meeting of Shareholders dated 31 March › 2023 Mobile World Congress, Barcelona, 27 February
› Director, Axiata Investments (UK) Limited (2017 – › 30 CITIC CLSA Investors’ Forum, Hong Kong, 11 & 12
2017, terms of office 2017 – 2019. 2023.
present) September 2023.
› Bangladesh Business Summit 2023 for Panel
Education › Director, Axiata Business Services Sdn Bhd (2017 – › Bursa Advocacy Sessions for Directors and CEOs
discussion titled “Harnessing the Digital Economu
› Chartered Accountant license from The Institute of 2018) of Main Market Listed Issuers (organized by Bursa),
to Unlock New Frontiers for a smart Bangladesh”
Chartered Accountant of India, 1989. › EVP dan Group Chief Marketing Officer, Telenor Group Virtual, 19 September 2023.
arranged by country’s apex business body the
› Bachelor of Commerce from University of New Delhi, (2015 – 2017) › Khazanah Megatrends Forum 2023, Virtual, 2 October
Federation of Bangladesh Chamber of Commerce
1985. › CEO of Telenor India, Telenor Group (2014 – 2015) 2023.
and Industry (FBCCI), Bangabandhu International
Professional Background
› CEO of Grameenphone, Bangladesh, Telenor Group › Introduction to 5G Opportunities y McKinsey team –
Conference Center, Dhaka, 12 March 2023.
(2013 – 2014) Nimal Manuel, Vlad Kulagin, Abhyuadaya Shrisvastaya
› Group Chief Executive Officer and Managing Director, › Bursa Malaysia Mandatory Accreditation Programme
Axiata Group Berhad (2023 – present)
› CFO of Telenor India, Telenor Group (2011 – 2012) and Ferry Griipink, Virtual, 11 October 2023.
(MAP), Virtual, 4, 5, & 6 April 2023.
› Joint Acting Group Chief Executive Officer, Axiata › CFO and COO of Tata AIA Life Insurance, Tata AIA Life › 2024 Malaysia Budget presented by PWC Tax
› Politics and Global Market, presented by Jimmy
Insurance, Limited, Mumbai India (2006 – 2010) Malaysia, Virtual, 11 October 2023.
Group Berhad (2022 – 2023) Quigley, Exec VC, International Corporate &
› Member, Transformation Advisory Committee, XL Multiple Board Membership
› Boost Holdings board retreat
Investment Banking, BoFA, Virtual, 20 April 2023.
› External Speaker: Fintech – Coming of Age by Erande
Axiata (2021 – February 2024) Committee Member on: › Board ESG Governance: Navigating the Board’s role Yashraj, Managing Partner of BCG India
› Member, Risk and Compliance Committee, XL Axiata 1. Board Sustainability Committee (formerly known in ESG KPIs, GRC and Executive Compensation? › External Speaker: Scaling a fintech in Indonesia: A
(2019 – 2022) as Board Annual Report Committee) and Board Presented by Andrew Chan, Partner, Strategy and Founders perspective by Adrianus Hitijahubessy CEO
› Commissioner, XL Axiata (2017 – present) Risk and Compliance Committee of Axiata Group Transformation Leader, Sustainability & Climate & Founder of Julo
› Group CFO, Axiata Group Berhad (2017 – present) Berhad. Change and Farhana Jabir, Director, Sustainability &
2. Board Nomination and Remuneration Committee
› External Speaker: Banking as a Service: How real is
› Chairman, Boost Holdings Sdn Bhd (2022 – present) Climate Change, Virtual, 26 April 2023. it by Sammeer Sharma, Managing Director, Retail
› Chairman, Axiata Digital & Analytics Sdn Bhd (2022 of Robi Axiata › Axiata Board Jakarta Offsite Visit Banking Standard Chartered Bank
– present) 3. Board Investment Committee (formerly Capital › Indonesia Economic & Political Update by Muhamad
Investment and Procurement Management
› External Speaker: Fundraising for Fintechs: Is there a
› Chairman, Axiata SPV5 (Labuan) Limited (2020 – Chatib Basri Silver lining by Jan Metzger, Managing Director, Citi Asia
present) Committee and Board Risk and Compliance › Indonesia Telecom Industry Update by BCG Pacific Head of Banking, Capital Markets, Advisory and
Committee of Dialog Axiata PLC XL Jakarta Indonesia, 10 May 2023.
› Director, Axiata Digital Ecode Sdn Bhd (2019 – present) James Perry, Managing Director, Citi Asia Pacific Co-
4. Board Governance and Risk Management › UBS OneAsean Conference 2023, The Fullerton Hotel
› Director, Dialog Axiata PLC (2019 – present) Head of Technology Investment Banking, EQ Hotel,
Committee of CelcomDigi Berhad
› Director, Axiata Digital Lands (Private) Limited (2018 Singapore, 30 May 2023. Kuala Lumpur, Malaysia, 4 November 2023.
5. Board Remuneration Committee of Axiata Digital
– present) › GEC Meeting, Colombo, Sri Lanka, 5 June 2023. › GLIC Integrity Event (GIE 2023) organized by
& Analytics Sdn Bhd.
› Director, Axiata SPV1 (Labuan) Limited (2017 – present) › Talent Council, Colombo, Sri Lanka, 6 June 2023. Khazanah, Royale Chulan Hotel, Kuala Lumpur,
6. Board Remuneration Committee of Boost Holdings
› Director, Axiata SPV2 Berhad (2017 – present) Sdn Bhd.
› CelcomDigi MY5G CEO Roundtable: Realising the True Malaysia, 7 November 2023.
› Director, Axiata Investments (Singapore) Limited (2017 7. Board Remuneration Committee of Axiata Digital Potential of 5G for Malaysian Businesses, St Regis, › Artificial Intelligence presented bu Stephen Rose, IBM
– present) Labs (Private Limited). Kuala Lumpur, Malaysia, 3 July 2023. at the Board Retreat [No. 15-23], Conservatory Room,
› Director, Axiata Investments (Labuan) Limited (2017 – › Guest Speaker session - “What Worked for Deutsche”, Kuala Lumpur, EQ Hotel, Kuala Lumpur, Malaysia, 8
present) presented by Niek Jan Van Damme, Board of Telstra November 2023.
and ex-Board of Management, Deutsche Telekom at › CelcomDigi Board Strategy workshop by CD
the Board Retreat [Np. 8-23], M Resort & Hotel, Kuala Management Team, CelcomDigi Tower, Petaling Jaya,
Lumpur, Malaysia, 12 July 2023. Selangor, Malaysia, 16 November 2023.
› Sharing Session by Ericsson 5G India Journey bu Nitin
Bansal and Dr. Ir. Ng Thiaw Seng of Erricsson, XL Tower,
22 November 2023.
142 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 143
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
Dr. David R. Dean* Yasmin Stamboel Wirjawan
Commissioner Independent Commissioner
Age › Member of Audit Committee, XL Axiata (2011-
Age Professional Background 55 years old as of December 2023 2016)
6 years old as of December 2023 › Supervisory Board Member, SUSS Micro Tec SE, › Advisor, PT Pemeringkat Efek Indonesia (PEFINDO)
Nationality (2010 - 2016)
Munich, (2020 – present)
Nationality Indonesian › Held several positions, the most recent of which
› Director, Ncell Axiata Ltd, (2019 – present)
British and German Nationalities › Commissioner, XL Axiata, (2018 – present) was Director, Analytical Manager, and Team Leader
Domicile
› Independent Non-Executive Director, Axiata for Corporate and Infrastructure Ratings for South
Domicile Jakarta, Indonesia
Group Berhad, (2017 – Current) Asia and Southeast Asia, S&P Global Ratings
Munich, Germany › Independent Commissioner, XL Axiata, (2016 – (formerly Standard & Poor’s) (2001 - 2010).
Legal Basis of Appointment
2018) Resolution of Annual General Meeting of Shareholders › Held several positions, the most recent of which
Legal Basis of Appointment was as Head of Equity Research, PT Bahana
› Member of the Global Future Council Forum dated 29 April 2019
Resolution of General Meeting of Shareholders Securities (1995 - 1997)
on the Digital Economy and Society, World
dated 29 April 2019
Economic Forum, (2012 – 2019) Term of Office
› Senior Partner, The Boston Consulting Group 29 April 2019 until the closing of Annual General Multiple Board Membership
Terms of Office
(BCG), (1985 – 2013) Meeting of Shareholders 2024
29 April 2019 until the closing of Annual General Chairman of Board Risk and Compliance Committees
Meeting of Shareholders 2024. Appointment History in the Company at XL Axiata
Multiple Board Membership
None › Independent Commissioner, term 3, appointed
Appointment History in the Company Affiliate Relations
at the Annual General Meeting of Shareholders
› Commissioner, term 2, appointed at the Annual None
Affiliate Relations 29 April 2019, term of office 29 April 2019 until
General Meeting of Shareholders 29 April 2019,
Independent Non-Executive Director, Axiata Group the closing of the Annual General Meeting of
terms of office 29 April 2019 until the closing of Association Membership
Berhad Shareholders 2024.
Annual General Meeting of Shareholders 2024. None
› Independent Commissioner, term 2, appointed at
› Commissioner, term 1, appointed at the Annual Association Membership the Annual General Meeting of Shareholders 22 Trainings and Competence Development in 2023
General Meeting of Shareholders 9 March 2018, None April 2014, term of office 2014 – 2019. › Leadership for Digital Transformation, London, 20
term of office 2018 - 2019.
› Independent Commissioner, term 1, appointed at February.
› Independent Commissioner, term 1, appointed
the Annual General Meeting of Shareholders 14 › 2023 Mobile World Congress, Barcelona, 27
at the Extraordinary General Meeting of
April 2011, term of office 2011 - 2014. February 2023.
Shareholders 29 September 2016, term of office *) Effectively resigned as of 24 December 2023
29 September 2016 to 9 March 2018. › Axiata Group Risk & Compliance Conference 2023,
Education
Virtual, 31 July.
› Master of Science in Management and Systems
Education › Indonesian Economic and Political Update, XL
from New York University, 2020
› Doctor of Philosophy in Theoretical Physics from Axiata Tower, 10 May.
› Master of Science in Finance from Brandeis
Wolfson College, University of Oxford, 1979. › Indonesia Telecom Industry Update, XL Axiata
University, 2000.
› Master of Arts in Physics from Oriel College, Tower, 10 May.
› Bachelor of Art in International Business from
University of Oxford, 1982. › Sharing Session by Ericsson 5G India Journey, XL
American University of Paris, 1992.
› 1st Class Honours (BA) from Oriel College, Axiata Tower, 22 November.
University of Oxford, 1983 Professional Background › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› Member of Transformation Advisory Committee Refresher, Disprz, December 31.
(2021 - February 2024)
› Chairman of Risk and Compliance Committee, XL
Axiata (2020 - present)
› Held several positions. Currently as Member of
Board of Trustees, Ancora Foundation (2008 -
present)
› Chairman of Nomination and Remuneration
Committee, XL Axiata, (2017 - 2021)
› Independent Commissioner, XL Axiata (2011 -
present)
› Chairman of Audit Committee, XL Axiata (2016 –
2019)
144 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 145
Page 75
CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
Julianto Sidarto
Muliadi Rahardja
Independent Commissioner
Independent Commissioner
Age › Member of Board Risk and Compliance Committee,
Age Multiple Board Membership 62 years old as of December 2023 XL Axiata (2019 – present))
64 years old as of December 2023 › Independent Commissioner, PT Bank Mandiri › Chairman of Audit Committee, XL Axiata (2019 - present)
(Persero) Tbk Nationality › Independent Commissioner, XL Axiata (2018 - present)
Nationality Indonesian › Member of Audit Committee, XL Axiata (2018 - 2019)
› Chairman of Nomination and Remuneration
Indonesian Committee, XL Axiata. › Independent Commissioner, PT Mosaik Manajemen
Domicile
› Member of Audit Committee, XL Axiata. Global (2017 - present)
Domicile Jakarta, Indonesia
› Member of Nomination and Remuneration › Member of Audit Committee, PT Ace Hardware
Jakarta, Indonesia Indonesia Tbk (2016 - present)
Committee, PT Bank Mandiri Tbk. Legal Basis of Appointment
› Member of Audit Committee, PT Bank Mandiri Tbk. Resolution of Annual General Meeting of Shareholders › Independent Commissioner, PT Mediatrac Sistem
Legal Basis of Appointment Komunikasi (2015 - present)
Resolution of Annual General Meeting of dated 29 April 2019
Affiliate Relations › Managing Director of Operations in ASEAN,
Shareholders dated 29 April 2019
None Term of Office Accenture (2013 - 2015)
Terms of Office 29 April 2019 until the closing of Annual General › Country Managing Director of Indonesia, Accenture
Association Membership Meeting of Shareholders 2024 (2002 - 2013)
29 April 2019 until the closing of Annual General
None
Meeting of Shareholders 2024
Appointment History in the Company Multiple Board membership
Trainings and Competence Development in › Independent Commissioner, term 2, appointed at the Committee Member:
Appointment History in the Company
2023 Annual General Meeting of Shareholders on 29 April › Member of Board Audit Committee of PT XL Axiata
› Independent Commissioner, Second Term,
› Leadership for Digital Transformation, London, 20 2019, term of office 29 April until the closing of the Tbk
appointed based on the Annual General Meeting
February 2023. Annual General Meeting of Shareholders 2024. › Member of Board Risk and Compliance Committee
of Shareholders dated 29 April 2019, terms of
› 2023 Mobile World Congress, Barcelona, 27 › Independent Commissioner, term 1, appointed at the › Member of Audit Committee of PT Ace Hardware
office 29 April 2019 until the closing of Annual
February 2023. Annual General Meeting of Shareholders on 9 March Indonesia Tbk
General Meeting of Shareholders 2024.
› Indonesian Economic and Political Update, XL 2018, term of office 2018 - 2019.
› Independent Commissioner, First Term, appointed
Axiata Tower, 10 May 2023. Affiliate Relations
based on the Extraordinary General Meeting
› Indonesia Telecom Industry Update, XL Axiata Education None
of Shareholders dated 15 august 2017, terms of
Tower, 10 May 2023. › MBA from UCLA Anderson School of Management,
office 2017 – 2019. Association Membership
› Sharing Session by Ericsson 5G India Journey, XL 1988.
Axiata Tower, 22 November 2023. › Master’s degree in computer science from None
Education
› Master of Business Administration (MBA) from › Anti-Bribery and Anti-Corruption (ABAC) › Johns Hopkins University, 1984
Refresher, Disprz, 31 December 2023. Trainings and Competence Development in 2023
Massachusetts Institute of Technology (MIT) › Bachelor of Science in Electrical Engineering from
› Leadership for Digital Transformation, London, 20
Cambridge USA, 1988 Johns Hopkins University, 1984
February 2023.
› Accounting Degree and CPA from Faculty of › 2023 Mobile World Congress, Barcelona, 27 February
Economics, University of Indonesia, 1984. Professional Background
› Independent Commissioner, PT Honest Financial 2023.
Technologies (2022 - present) › Indonesian Economic and Political Update, XL Axiata
Professional Background
› Chairman of Board Audit Committee, PT Honest Tower, 10 May 2023.
› Independent Commissioner PT Bank Mandiri Tbk
Financial Technologies (2022 – present) › Indonesia Telecom Industry Update, XL Axiata Tower,
(March 2022 – present)
› Chairman of Risk and Monitoring Committee, PT Honest 10 May 2023.
› Treasurer, Atmajaya Foundation (2018 – present)
Financial Technologies (2022 – present) › Sharing Session by Ericsson 5G India Journey, XL
› Independent Commissioner, XL Axiata (2017 –
› Chairman of Nomination and Remuneration Committee, Axiata Tower, 22 November 2023.
present)
PT Honest Financial Technologies (2022 – present) › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› Chairman of Nominating and Remuneration
› Member of Board Transformation Advisory Committee, Refresher, Disprz, 31 December 2023.
Committee, XL Axiata (2017 – 2022)
› Commissioner, PT Adira Dinamika Multi Finance XL Axiata (2021 – February 2024)
Tbk (2017 – 2022)
› Director, SME Business Banking, Operation and
CREM, Regional Corporate Office, Sales, and
Distribution, and lastly as Deputy President BOARD CHARTER AND The Board Manual includes the following:
Director, PT Bank Danamon Indonesia Tbk (1989
– 2017).
MANUAL 1. Criteria and composition.
2. Duties and responsibilities.
The Company has established a Board Manual that 3. Code of Ethics that includes arrangements for
includes the Work Guidelines and Code of Ethics conflicts of interest, confidentiality of Company
for the Board of Directors. This guide assists the documents and compliance with prevailing
members of the Board of Directors in maintaining a regulations.
professional and collaborative working relationship 4. Procedures for procuring meetings include the
and in enhancing the effectiveness of the duties quorum of the meeting and the right to vote.
and responsibilities of each member of the Board of 5. Remuneration.
Director. 6. Distribution of authority.
146 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 147
Page 76
CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
stated in the Articles of Association and existing RESIGNATION POLICY OF THE Wirjawan, Muliadi Rahardja and Julianto Sidarto. The
DUTIES AND RESPONSIBILITIES Regulations, which includes all business dealings BOARD OF COMMISSIONERS Company’s Independent Commissioners as of 31
OF THE BOARD OF that make up at least 5% of the Company’s December 2023 is in accordance with POJK No. 33/
gross income (total revenue before discounts) The Board of Commissioners resignation policy is POJK.04/2014, which is 50% of the total members
COMMISSIONERS or 10% of its Net Tangible Assets. regulated in the Company’s Articles of Association of the BOC.
› Governance Monitoring and the Board Manual where respective members
The duties and responsibilities of the Board of Monitoring and reviewing the implementation of of the Board must submit their resignation through Criteria of Independent Commissioners
Commissioners are stipulated under the Articles Corporate Governance in the Company. formal written notification to the Company. Each member of the Company’s Independent
of Association in accordance with the Regulations › Disclosure of Related Parties Commissioner has fulfilled the following criteria:
No. 40 of 2007 on Limited Liabilities Companies Disclosing to the Company on a regular basis any The formal resignation letter must be addressed to 1. He/she does not work or has the responsibility
and Financial Services Authority Regulation related parties associated with the members. the Nominating and Remuneration Committee and or authority to plan, lead, control or supervise
No. 33/POJK.04/2014. Moreover, the Board of › Disclosure of Shareholding a copy of the resignation letter must be submitted the Company in the last 6 (six) months.
Commissioners duties and responsibilities are also Reporting the share ownership of members to the Board of Directors and Corporate Secretary. 2. He/she does not have any shares, directly or
stipulated in the Company’s Corporate Governance and their families within the Company and/or in Furthermore, the Company will hold a GMS to decide indirectly, in the Company
Policy and Board Manual. other companie. on the resignation submitted. 3. He/she is not an affiliated party to Company’s
› Duties and Responsibilities of the President Board of Commissioners, Board of Directors or
The Board of Commissioners of XL Axiata is Commissioner Aside from the abovementioned voluntary resignation, majority Shareholders.
responsible in carrying the following: The President Commissioner of the Company the terms of office of the Board member shall be 4. He/she does not have any direct or indirect
› Approving Business Plan is responsible for coordinating the collective automatically ended upon the following conditions: business relationship related with the core
Endorse the Company’s proposed Business Plan supervisory duties of the Board of Commissioners, 1. If he/she is involved in a civil, criminal, monetary business of the Company. If he/she is also
for the upcoming financial year and with its as well as acting as the chairman for the Board of crime and/or other dispute in a judiciary a member of the Company’s Board Audit
strategy, at least 60 days prior to the start of Commissioners Meeting, the Joint Meeting of the institution and/or arbitration institution Committee (BAC), he/she can only be
the new financial year. Additionally, the Board Board of Commissioners and Directors, and the whether in Indonesia or a foreign country, or reappointed one (1) time as member of BAC
of Directors shall regularly examine and provide General Meeting of Shareholders, in accordance an administrative dispute with an authorised after the end of BAC term of office.
guidance on the Company’s current business with the Articles of Association and prevailing government institution including any dispute in
plans. regulations. relation to manpower/industrial matters. Independency of the Independent
› Provide Oversight of the Company 2. If he/she passed away. Commissioners
Overseeing both the development and the 3. Not re-appointed upon the conclusion of terms All members of the Independent Commissioner have
performance of the Board of Directors, which BOARD OF COMMISSIONERS of office. signed a Statement certifying fulfilment of criteria as
entails reporting to the GMS about all the duties REQUIREMENTS AND 4. Dismissed by the GMS. well as his/her independence of position in accordance
and supervisory measures that were carried out 5. Declared bankrupt or insolvent based on court with the criteria as set under prevailing regulations.
in the preceding financial year. APPOINTMENT POLICY decision.
› Board of Commissioners Meetings 6. No longer qualified according to the prevailing The Statement Letters are documented by the
Organizing and participating in the Board of The Senior Executive Nomination Policy governs legislations and regulations. Corporate Secretary.
Commissioners Meeting and Joint Meeting of the appointment policy for the Company's Board of
the Board of Commissioners and Directors, in Commissioners. The Corporate Secretary submits
accordance with the applicable regulations. The candidates for the Board proposed by Shareholders TERM OF OFFICE BOARD OF COMMISSIONER
Board of Directors shall examine and authorize and/or Minority Shareholders to the Company's MEETINGS
the minutes of the meetings that are drafted by Nomination and Remuneration Committee. The Terms of Office of the Company’s Board of
the Corporate Secretary. Commissioners is five (5) years and he/she may be Board of Commissioners Meeting Policy
› Annual Report The Nominating and Remuneration Committee re-appointed for the same period. If a Commissioner In general, the policy for the Board of Commissioners
Reviewing and endorsing the Annual Report will further review the nomination proposal in the is appointed to replace a vacant position (either by meetings is as follows:
that is drafted by the Board of Directors. The Nominating and Remuneration Committee Meeting termination or otherwise), then he/she shall serve 1. Board of Commissioners Meeting and Joint
Board of Commissioners shall verify that the to ensure the fulfilment of candidates’ requirements, the remaining term of the vacant position/existing Meeting of the Board of Commissioners and
Annual Report comprises precise and accurate qualifications as well as background to be submitted Commissioner. Directors scheduled for every financial year
information. to the GMS for approval purpose. must be arranged before the start of the
› Public Accountant financial year. The schedule for the Board of
Propose a Public Accountant and/or Public The requirement as well as qualification of Board INDEPENDENT Commissioners meetings in 2022 was submitted
Accountant Firm for the current financial year in members of the Company refers to POJK No. 33/ COMMISSIONERS by the Corporate Secretary at the beginning of
accordance with prevailing regulations. POJK.04/2014 and as required by the Company, 2023 to each member of the Board.
› Corporate Action including to meet the diversity of skills and total As of 31 December 2023 the Company has 3 (three) 2. The Board of Commissioners Meeting must
Examine and provide authorization for the composition of the Board itself. Independent Commissioners from a total of 6 (six) be convened at least once every two months,
Corporate Action within the limits of authority as members of the Board, namely Yasmin Stamboel chaired by the President Commissioner or other
148 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 149
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
member of the Board as appointed in the Meeting reached, then a simple majority is sufficient. If
in the absence of the President Commissioner. the Board fails to make a majority decision, then
3. Joint meetings with the Board of Directors must the meeting chair shall cast the deciding vote.
be conducted at least once every four (4) months.
4. Invitation and Meeting material must be Board of Commissioners Meetings In
distributed to the members of the Board at least 2023
five (5) days prior to the meeting. In 2023, the Board of Commissioners have convened
5. The Meeting can be convened and decisions will 11 (eleven) meetings, and 7 (seven) Joint Meetings
only be binding if it is attended by a minimum of the Board of Commissioners with the Board of
of half of the Board members. Decisions of the Directors. Herewith the details of frequency and
Board are to be made in consensus. However, agenda of these meetings.
in the event where such consensus cannot be
BOARD OF COMMISSIONERS MEETING
M. CHATIB DR. HANS VIVEK DAVID YASMIN S. MULIADI JULIANTO
NO. TYPE
NO DATE AGENDA STATUS (APPROVAL/NOTING) BASRI WIJAYASURIYA SOOD R. DEAN WIRJAWAN RAHARDJA SIDARTO
MEETING (R/S)* (DHW)
(MCB) (VS) (DRD) (YSW) (MR) (JS)
BAC Report Approval
1 17-Feb-23 1/23 R BRCC Report Noting
N N N N N N N
NRC Report Approval (Proxy to DHW)
Audited Financial Statement FY2022 Approval
2 29-Mar-23 1S/23 S Board Assesment Result FY 2022 Discussion Noting N N N N N N N
BAC Report Noting
3 10-May-23 2/23 R
BRCC Report Noting
N N N N N N N
Corporate Scorecard/KPI 2023 Approval
4 31-May-23 3/23 R N N N N N N N
CEO Scorecard/KPI 2023 Approval (Proxy to DHW)
5 23-Jun-23 2S/23 S Related Party Transaction Plan Discussion Approval N N N N N N N
(Proxy to JS)
BAC Report Noting
6 28-Jul-23 4/23 R BRCC Report Noting N N N N N N N
NRC Recommendation Approval
2024 Business Plan Discussion Noting
7 5-Oct-23 3S/23 S
Legal Matters Discussion Noting
N N N N N N N
BAC Report Noting
8 30-Oct-23 5/23 R BRCC Report Noting N N N N N N N
(Proxy to DHW)
NRC Report Approval
9 20-Nov-23 4.S/23 S Audited Financial Statement Q3 2023 Approval N N N N N N N
10 22-Nov-23 6./23 R Board Investment Committee Discussion Noting N N N N N N N
NRC Matters Discussion Approval
11 21-Dec-23 5.S/23 S Board Investment Committee Discussion Approval N N N N N N N
Related Party Transaction Plan Discussion Approval
Total Attendance During 2023 11/11 11/11 11/11 11/11 11/11 11/11 11/11
Percentage of Attendance During 2023 100% 100% 100% 100% 100% 100% 100%
Regular Meetings 6 Yes 11 11 11 8 11 10 11
Special Meetings 5 No 0 0 0 0 0 0 0
Total Meetings 11 Yes with Proxy 0 0 0 3 0 1 0
*)
R: Reguler S: Spesial
150 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 151
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
JOINT MEETING OF THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS 2023
DIAN YESSIE D. ABHIJIT J. DAVID BUDI FEIRUZ I GEDE M. CHATIB DR. HANS VIVEK DAVID YASMIN S. MULIADI JULIANTO
SISWARINI YOSETYA NAVALEKAR ARCELUS PRAMANTIKA IKHWAN DARMAYUSA BASRI WIJAYASURIYA SOOD R. DEAN WIRJAWAN RAHARDJA SIDARTO
NO DATE MEETING NO. AGENDA STATUS (APPROVAL/NOTING) (DS) (YDY) (AJN) OSES (BP) (FI) (IGD) (MCB) (DHW) (VS) (DRD) (YSW) (MR) (JS)
(DAO)
1 17-Feb-23 1.J/23 FY 2022 Business and Operating Updates
Transformation Discussion Noting N
(Proxy
Business Plan 2023 Discussion N N N N N Not Yet
N N N N to
N N N
2023 Annual General Meeting of Shareholders 2023 Approval a BOD DHW)
Member
Funding Plan Discussion Approval
2 29-May-23 1.JS/23 Corporate Strategic Plan Discussion Noting N N N N N N N N N N N N N
Related Party Transaction Plan Discussion Noting
3 10-May-23 2.J/23 Q1 2023 Business and Operating Updates Noting
Related Party Transaction Plan Discussion N N N N N N N N N N N N N
Noting
Transformation Discussion
Treasury Shares Discussion Noting
4 31-May-23 2.JS/23 Business Plan 2023 Discussion Noting N
(Proxy
Related Party Transaction Plan Discussion Noting
N N N N N N N N N to
N N N
DHW)
5 28-Jul-23 3.J/23 Q2 2023 Business and Operating Updates Noting
Transformation Discussion N N N N N N N N N N N N N
Noting
Related Party Transaction Plan Discussion
No Longer
IT Discussion Noting a BOD
Member
6 30-Okt-23 4.J/23 Transformation Discussion Noting
Q3 2023 Business and Operating Updates Noting
Extraordinary General Meeting of Shareholders Approval
N
(Proxy
Business Plan 2024 Discussion Noting
N N N N N N N N N to
N N N
DHW)
Budget Discussion Approval
Network Discussion Noting
IT Discussion Noting
7 22-Nov-23 3.JS/23 Business Plan 2024 Discussion Approval
Additional Company's Business Activity Discussion Approval
Corporate Action Evaluation Discussion Noting
N N N N N N N N N N N N N
Related Party Transaction Plan Discussion Noting
Total Attendance During 2023 7/7 7/7 7/7 7/7 2/2 5/5 7/7 7/7 7/7 7/7 7/7 7/7 7/7 7/7
Percentage of Attendance During
100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
2023
Regular Meetings 4 Yes 7 7 7 7 2 5 7 7 7 7 4 7 7 7
Special Meetings 3 No 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Meetings 7 Yes with Proxy 0 0 0 0 0 0 0 0 0 0 3 0 0 0
152 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 153
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS BOARD OF COMMISSIONERS
BOARD OF COMMISSIONERS CIRCULAR RESOLUTION 2023 Performance Assessment For 2. Implementation of affiliate transaction with Link Net
Committees Under The Board of to Build a Network of 1 Million Home Passes.
NO. DATE DESCRIPTION Commissioners 3. The Company’s financial, business and
operational performance and quarterly financial
1 19 January 2023 Changes on Article of Association - Issued & Paid Up Capital
In carrying out its duties, the Board of Commissioners statements;
2 20 April 2023 Changes on Group Head Internal Audit is assisted by committees directly responsible to the 4. The Company’s short-term and long-term
3 9 May 2023 Financial Statement Q1 2023 Board, namely the Board of Audit Committee, the strategic plans;
Nominating and Remuneration Committee, and the 5. Funding plans for 2023;
4 27 July 2023 Financial Statement Q2 2023
Risk and Compliance Committee. The assessment 6. Amendment of the Company’s Articles of
5 15 June 2023 Business Plan 2023 and Corporate Scorecard 2023
of the Transformation Advisory Committee was Association in connection with Limited Public
not conducted for 2023 as this Committee was Offering III with Preemptive Rights;
TRAININGS OF THE BOARD OF Self-Assessments effectively dissolved in January 2024. 7. The use of the Company’s profit for the 2022
COMMISSIONERS In 2023, the Company conducted a self-assessment fiscal year includes the distribution of dividends
of the Board of Commissioners and the Committees 1. Assessor to shareholders;
under the Board of Commissioners, covering the The Nominating and the Remuneration 8. The Company’s Annual General Meeting of
In 2023, the Board of Commissioners participated Board's Effectiveness, peer-to-peer evaluations among Committee conducted a self-assessment of the Shareholders for the 2022 fiscal year;
in various trainings to support their duties as the members of the Board of Commissioners, and Cross- Committees under the Board of Commissioners. 9. Economic developments and the latest
Board of Commissioners. The detailed information Board Assessments with each member of the Board of conditions of the telecommunications industry;
is presented on the Profile section of the Board Directors. This assessment includes an understanding 2. Assessment Method 10. Implementation of new policies and regulations
Members in this Corporate Governance Chapter. of roles, duties, and responsibilities as well as an This assessment method was carried out such as the Personal Data Protection Law,
evaluation (Good Corporate Governance - "GCG"). The through questionnaires and was conducted Electronic System Operator Control Governance
Induction Program assessment results will be applied as recommendations simultaneously with the assessment of the (TKPPSE), and the update of the Risk and
The Company has an Induction Program for for the Company’s GCG improvements and as one of Board of Commissioners, where the Board Compliance Committee Charter.
every newly appointed member of the Board the considerations for the reappointment of the Board of Commissioners performed a collegial 11. Implementation of good corporate governance;
of Commissioners. The Induction Program is of Commissioners members. assessment for each committee under the 12. The implementation of risk management
organized by the Corporate Secretary in the form of Board of Commissioners, while each committee including the results of the evaluation of risk
presentation on the Company’s fundamental matters 1. Assessor member conducted a collegial assessment management practices at XL Axiata;
as follows: The Nominating and Remuneration Committee according to their respective committees. 13. Implementation of duties and responsibilities
1. The Company’s strategy, which includes business conducted a self-assessment of the Board of of the Audit Committee, Risk and Compliance
plans, branding, and technology and networks. Commissioners. The assessment criteria for the performance Committee and Nominating and Remuneration
2. Presentation of Governance includes: evaluation of the Committees under the Board of Committee
a. Duties, responsibilities and authorities as 2. Assessment Method Commissioners include Composition and quality, 14. The results of the implementation of the
members of the Board of Commissioners. The assessment method was conducted with a Ethics and compliance, Process and procedures, performance effectiveness assessment of the
b. Policies related to governance. quantitative approach through data collection Oversight of audit functions, Understanding the Board of Directors, the Board of Commissioners,
techniques by distributing questionnaires containing business and associated risks, Oversight of risk the Board Effectiveness Assessment for the
In 2023, there was no new member of the Board questions or statements that must be answered by management process, and Monitoring activities. 2022 financial year, including an assessment
of Commissioners, therefore, there is no Board each member of the Board of Commissioners, the of the individual performance of the President
Induction Program. Committees under the Board of Commissioners, 3. Assessment Results Director and other members of the Board of
and by each member of the Board of Directors as Overall, the Board of Commissioners considers Directors;
part of the cross-board assessments. that all Committees have carried out their duties 15. Determination of remuneration and nomination
PERFORMANCE ASSESSMENT in accordance with the principles of GCG as well period for members of the Board of Directors;
OF THE BOARD OF The assessment criteria for the performance as the objectives of the Company. 16. Determination of Corporate Scorecard & KPI
COMMISSIONERS evaluation of the Board of Commissioners of the President Director for the 2023 financial
include Integrity, Leadership skills: Team player/ THE BOARD OF COMMISSIONERS year, as well as the results of the implementation
Assessment through the General Communicator, Analytical: Analyse and Interpret and achievement of the Company’s and the
Meeting of Shareholders Information, Specialist Skills and Knowledge, and SUPERVISORY REPORT IN 2023 Board of Directors’ targets based on the 2022
The collegial performance assessment for each Thinker - Open-minded/Strategic. Corporate Scorecard and the 2022 Board of
financial year is reported in the Annual General The BOC oversight activities in 2023 covered the Directors’ KPIs;
Meeting of Shareholders. The General Meeting of 3. Assessment Results following areas: 17. Implementation of the Company’s
Shareholders provides full release and discharge of The Board of Commissioners as an organ of 1. Implementation of the Company’s annual Transformation Program;
responsibilities (acquit et de charge) to the Board the Company has carried out its duties and business plan for the 2023 financial year, and 18. Affiliated transaction with PT ADL Indonesia;
of Commissioners for its supervisory function responsibilities in accordance with prevailing approval of the Company’s annual business plan 19. The Company’s Business Activities Expansion Plan.
during the relevant year. regulations and relevant standards. for the 2024 fiscal year, including discussions on
the Company’s vision and mission;
154 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 155
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF COMMISSIONERS REMUNERATION
AND BOARD OF DIRECTORS’
REMUNERATION REMUNERATION STRUCTURE
The remuneration structure for the Board of Commissioners and the Board of Directors is stipulated in the
REMUNERATION PROCEDURE FOR THE BOARD OF DIRECTORS Remuneration for Senior Executive Policy as follows:
AND BOARD OF COMMISSIONERS 1. Basic Salary.
2. Benefit.
3. Bonus (only for members of the Board of Directors)
Remuneration for the Board of Directors and Board of Commissioners of the Company is determined through
the General Meeting of Shareholders as follows:
TOTAL REMUNERATION IN 2023
1. Grant authority to the Nominating and Remuneration Committee to determine salary, bonus and other
benefits for members of the Board of Commissioners in accordance with the structure, policy and amount Total remuneration for the Board of Commissioners and Board of Directors in 2023 was Rp103,973.80 million,
of remuneration based on the Company’s remuneration policy for the relevant financial year. with details as follows:
2. Grant authority to the Board of Commissioners of the Company to determine the salary amount, bonus
and other benefits for members of the Board of Directors in accordance with the structure, policy and Board of Directors as of 31 December 2023
amount of remuneration based on the Company’s remuneration policy for the relevant financial year. ALLOWANCES TOTAL REMUNERATION/YEAR
NAME SALARY TELECOMMU OTHER BONUS ABOVE 1
Remuneration for the Board of Commissioners and Board of Directors is determined by taking into account HOUSING
ALLOWANCE
TRANSPORT
ALLOWANCE
NICATION REGULAR
HOLIDAYS
ALLOWANCE
BELOW 1
BILLION
BILLION <2
ABOVE 2
BILLION
ALLOWANCE ALLOWANCE BILLION
the Company’s and individual targets, comparison with similar industries, non-monetary benefits as well as the
individual and Company’s performance. The amount of each remuneration is evaluated from time to time to Dian Siswarini N - N N - N N - - N
ensure that the remuneration remains in accordance with the conditions in the market.
Budi Pramantika* N - N N - N N - - N
The Board of Commissioners is responsible for overseeing the implementation of the Remuneration Policy Feiruz Ikhwan** N N N N - - - - - N
including evaluating the implementation of the Remuneration Policy periodically. Yessie D. Yosetya N - N N - N N - - N
Abhijit J. Navalekar N N N N - N N - - N
David Arcelus Oses N N N N - N N - - N
General Meeting of I Gede Darmayusa N - N N - N N - - N
Shareholders Total 2023
31.737,99 1.888,64 2.040,90 163,52 5.527,36 51.140,11
(in million rupiah)
* Resigned effective on AGMS dated 5 May 2023
** Appointed as Director effective on AGMS dated 5 May 2023
Note: telecommunication allowance paid as billed
Board of Commissioners as of 31 December 2023
ALLOWANCES TOTAL REMUNERATION/YEAR
NAME SALARY BONUS
Authority to the TRANSPORT
TELECOMMU
OTHER REGULAR HOLIDAYS BELOW 1
ABOVE 1
ABOVE 2
Authority to ALLOWANCE
NICATION
ALLOWANCE ALLOWANCE BILLION
BILLION <2
BILLION
Nominating & ALLOWANCE BILLION
BOC
Remuneration
Committee
M. Chatib Basri N N N N N - - N -
Vivek Sood N - - N N - - N -
Nominating
& Remuneration David R. Dean N - - N N - - N -
Committee
Recommendation
Dr Hans Wijayasuriya N - - N N - - N -
Yasmin S.Wirjawan N N N N N - - N -
Stipulation of Stipulation of
Muliadi Rahardja N N N N N - - N -
BOC Salary BOD Salary Julianto Sidarto N N N N N - - N -
Total 2023
8.917,68 480,00 18,25 779,00 1.030,38
(in million rupiah)
Note: Transportation and telecommunications allowance is paid according to the bill, and the Transportation allowance is only for
Commissioners domiciled in Indonesia
156 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 157
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD AUDIT COMMITTEE BOARD AUDIT COMMITTEE
The Company's Board Audit Committee (BAC) is established by and responsible to the Board of Commissioners.
The main function of the Board Audit Committee is to assist the Board of Commissioners in overseeing the Nita Skolastika Ruslim
financial reporting process, internal control system, risk management, audit process, and the Company's Board Audit Committee Member
compliance with relevant laws and regulations.
55 years old
Indonesian
The Board Audit Committee was established through the Board of Commissioners’ Decision No. 1/05 dated
February 28, 2005 and is responsible to the Board of Commissioners. Basis of Appointment
Circular Resolution of the Board of Commissioners dated 2 March 2021,
The BAC has met the following criteria: effective on 1 April 2021 until the closing of GMS in 2024.
1. Article 28 Paragraph 4 of OJK Regulation No. 33/POJK.04/2014 dated 8 December 2014 concerning
Terms of Appointment
Board of Directors and Board of Commissioners of Issuers or Public Companies. 1 April 2021 until the closing of GMS in 2024.
2. OJK Regulation No. 55/POJK.04/2015 dated 23 December 2015 on the Establishment and Guidelines of
the Audit Committee (“POJK No. 55/POJK.04/2015”). Educational Background
Bachelor in Economics, Universitas Trisakti, 1991
PROFILES OF THE BOARD OF AUDIT COMMITTEE Professional Experience
› Member of Audit Committee of the Company (2021 - Present)
As at 31 December 2023, Members of the Board Audit Committee is as follows: › Member of Audit Committee of Bank Jago Tbk (2021 - Present)
› Member of Audit Committee of Indonesian Investment Authority (2021 - present)
› Member of Audit Committee of PT Unilever Indonesia (2021 - present)
Julianto Sidarto › Member of Audit Committee of PT Medela Potentia (October 2020 - December 2021)
Board Audit Committee Chairman › Member of the Professional Ethics Committee at the Indonesian Public Accountants Association (2017 - 2019)
› Member of Governance Board of Partners at Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan
63 years old (a member of the PricewaterhouseCoopers networks of firms) (2012 - 2019)
Indonesian › Head of Telecommunication, Info-com and Entertainment (TICE), and Consumer and Industrial Products (CIPS)
at Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan (a member of the PricewaterhouseCoopers
Basis of Appointment
Resolution of the Board of Commissioners No.1/19 dated 14 February 2019 networks of firms) (2008 - 2014)
effective at the closing of the Annual General Meeting of Shareholders on 29 › Head of Audit Methodology Implementation Group and Human Capital Development Leader (2008 - 2014)
April 2019. › Member of Disciplinary Committee, Indonesian Institute of Certified Public Accountants (IAPI)
› Member of Indonesian Public Accountants Professional Standards Board, Indonesian Institute of Certified Public
Terms of Appointment Accountants (IAPI)
2019 until the closing of GMS in 2024. › Corporate Responsibility Leader, PWC Indonesia, 2005 – 2012
Profile Concurrent Position
Profile on Educational Background, Professional Experience, Concurrent Member of Audit Committee in PT Medela Potentia, PT Bank Jago, Tbk, PT Unilever Indonesia Tbk, Indonesia
Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in Investment Authority (INA).
the Chapter of Corporate Governance in this Annual Report.
Affiliate Relations
None
Muliadi Rahardja Association Membership
Board Audit Committee Chairman › Member, Indonesian Institute of Certified Public Accountants (IAPl)/Indonesian Institute of Public Accountants,
2000 - present.
65 years old › Member, Indonesian Institute of Accountants (IAI), 2000 - present.
Indonesian › Member, Certified Practicing Accountant, Australia, 2018 - present.
Basis of Appointment Trainings in 2023
Resolution of the Board of Commissioners No.1/19 dated 14 February 2019 › Sharia accounting standards 103, 104, 107, 109, 111 and 112, Zoom, 19 June 2023.
effective at the closing of the Annual General Meeting of Shareholders on 29 › Leadership: Thriving During the Disruptive Times, Zoom, 27 June 2023.
April 2019. › Asia Pacific Board Leadership Centre Webinar - 2023 Board and Audit Committee Priorities, Webex, 6 July 2023.
Terms of Appointment › Criminal Law Aspects Related to Financial Statements in the P2SK Law and its Mitigation, Zoom, 31 August 2023.
2019 until the closing of GMS in 2024. › Update Transfer Pricing Documentation, Zoom, 3 October 2023.
› Navigating Al Governance and ESG Reporting for the Future, Zoom, 17 October, 2023.
Profile › How to Drive Corporate Performance Through Accounting Practices, Zoom, 9 November 2023.
Profile on Educational Background, Professional Experience, Concurrent › Enhancing ESG Through Best Practices in Accounting, Zoom, 7 December 2023.
Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in › OJK Bank Training – Accounting and audit aspects of impairment of loans provided and securities, Zoom,
the Chapter of Corporate Governance in this Annual Report. 11 December 202.
158 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 159
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD AUDIT COMMITTEE BOARD AUDIT COMMITTEE
TERM OF OFFICE ROLES AND RESPONSIBILITIES
Benny Redjo Setyono
Board Audit Committee Member
OF THE BOARD AUDIT
In accordance with the provisions of POJK
55/2015, the term of office for Audit Committee COMMITTEE
63 years old
Indonesian members cannot exceed the term of the Board
of Commissioners as regulated in the Articles of Based on the Board Charter, the following are the
Basis of Appointment Association and may be re-elected for only 1 (one) main duties and responsibilities of the BAC:
Decision of the Board of Commissioners No. 1.S/19 dated 29 April 2019,
subsequent period. 1. Conduct oversight on internal control and
effective on 1 July 2019.
governance implementation.
Terms of Appointment 2. Review of financial reporting processes.
1 July 2019 until the closing of GMS in 2024. STATEMENT OF 3. Review over external auditor performance and
Educational Background INDEPENDENCE recommend for external auditor appointment.
› Master of Accounting, University of Southern California, 1992 4. Supervise Internal Audit function.
› Master of Business Administration, University of Southern California, 1991 5. Review and make recommendation over
› Bachelor of Economics, Universitas Indonesia, 1985 Pursuant to the Charter and referring to the OJK material, affiliated/related party transactions.
› Certificate of Risk Management Level 4 from Indonesia Life Insurance Regulation No. 55/POJK.04/2015, the Board Audit
Association as obtained in 2017 was included in prior year.
Committee shall act independently in carrying out
its duties and responsibilities professionally and THE BOARD AUDIT COMMITTEE
Professional Experience
› President Director, PT Industri dan Perdagangan Bintraco Dharma Tbk (2022 - present)
independently without interference from any party MEETING POLICY
and is subject to prevailing laws and regulations.
› Independent Commissioner and Chairman of the Audit Committee at PT Asuransi Jiwa Astra Life (2020 - All members of the Board Audit Committee have
present)
› Member of Audit Committee of the Company (2019-Present) met the requirement of independence as set out The Board Audit Committee Meeting is regulated
› Independent Commissioner and Member of Audit & GCG Committee at PT Mitra Pinasthika Mustika Tbk (2019 under the Personal Statement, signed at the time under the Terms of Reference in accordance with
- present) of appointment and documented by the Corporate POJK No. 55/POJK.04/2015 whereby the Board is
› Vice President Director of PT Industri dan Perdagangan Bintraco Dharma Tbk (2014-Present) Secretary. required to convene a Meeting at least once in three
› Independent Commissioner and Chairman of the Risk Committee of PT Astra Aviva Life Indonesia (2014-present) months.
› President Director of PT Jakarta Cakratunggal Steel Mills (2014 - 2018)
› Advisor of PT Argo Manunggal Internasional (2012-2018)
› Member of Audit Committee at PT Unilever Indonesia Tbk (2004 - 2016) BOARD AUDIT COMMITTEE Board Audit Committee Meeting
› Director of PT Toyota Astra Motor (2003-2011)
› Director of PT Toyota Motor Manufacturing Indonesia (2000 - 2003)
CHARTER Frequency and Attendance
Throughout 2023, the Audit Committee convened
› Lecturer of Undergraduate Programme, Master of Management, Master of Accounting University of Indonesia
(1985-present)
13 (thirteen) meetings with all members attending.
The BAC has a Charter in the form of Terms of The details of the meetings are as follows:
Concurrent Position Reference as working guideline and basis that has
› President Director, PT Industri dan Perdagangan Bintraco Dharma Tbk been reported to the Financial Services Authority
› Independent Commissioner, PT Mitra Pinasthika Mustika Tbk on 18 November 2013 through Letter No.163/CSEC/
› Member of Audit and GCG Committee, PT Mitra Pinasthika Mustika Tbk
XI/2013 dated 18 November 2013.
Affiliate Relations
None The Board Audit Committee Terms of Reference
latest issued on 4 November 2020. The latest Audit
Association Membership
None Committee Terms of Reference is available on the
Company’s website (www.xlaxiata.co.id).
Trainings in 2023
› In Depteh about Changes to Income Tax Provisions, Kontan Academy, Jakarta, 14 February 2023.
› The 1st Indonesia Insurance Summit: Stakeholders Transformation Towards Strengthening to The Insurance
Industry, AAMAI Indonesia Insurance Summit, Yogyakarta, 25 August 2023.
› Delivery Method: Instructional Live Event, IIA Indonesia National Conference, Batam 30 - 31 August 2023.
› National Economic Outlook Seminar 2004, Indonesian Financial Services Association (APPI), Jakarta, 3 October
2023.
› Digital and Risk Management in Insurance 2023: Entering the New World 4.0 - Technology Beyond Imagination,
Indonesian Life Insurance Association, Yogyakarta, 18 – 20 October 2023.
› Fraud Prevention and Detection: A Continuous Challenge, MPM Internal Audit, Jakarta, 24 October 2023.
160 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 161
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD AUDIT COMMITTEE BOARD AUDIT COMMITTEE
ATTENDANCE
DATE AGENDA
JS MR NR BR
23 Jan 2023 › Project Bifrost (Direct Distribution) N N N N
› External Auditor Review for the period ended 31
December 2022
AUDIT COMMITTEE ACTIVITY › Review of Internal Control and Risk
31 Jan 2023
› Financial & Operational Result for the period N N N N REPORT 2023 Assessment
ended 31 December 2022 Based on the works and reports of Internal
› Confirmation of previous Meeting
In 2023, the BAC has carried out activities including Audit Division, external auditor, and XL Axiata’s
› Matter Arising from Previous BAC Meeting reporting on the following matters quarterly in management, the Board Audit Committee
› Internal Audit Update accordance with the duties and responsibilities of believes that XL Axiata’s internal control system
1 Feb 2023 N N N N
› Risk & Compliance Update the BAC in the Terms of Reference: is adequate and at acceptable level for XL
› Regulatory Update Axiata’s business environment. The Board Audit
› Related Party Transaction (RPT) Update
› Review of Compliance with the Applicable Committee also emphasized that along with the
› Confirmation of previous Meeting Laws and Regulations changing business environment and arising new
› Matter Arising from Previous BAC Meeting
› Internal Audit and Investigation Update
The Board Audit Committee reviewed XL problems, risk management and internal control
› Risk & Compliance Update Axiata’s Management’s compliance with the framework needs to be continuously improved.
14 Apr 2023 N N N h
› Regulatory Update applicable laws and regulations. The review is
› Affiliated Party Transaction with PT Link Net Tbk performed through compliance self-assessment › Review on Independence of External Auditor
Update by Management. Based on the review, the XL Axiata
› ADAI Update
Board Audit Committee did not find any non- The Board Audit Committee reviewed
› External Auditor Review for the period ended 31 compliance issue with the applicable laws and independence of Public Accounting Firm
March 2023
28 Apr 2023 N N N h regulations by Management with respect to Tanudiredja, Wibisana, Rintis & Rekan, a member
› Financial & Operational Result for the period
ended 31 March 2023 the regulations promulgated by OJK, Indonesia of PricewaterhouseCoopers, and obtained
Stock Exchange, and other laws/regulations confirmation from Public Accounting Firm
› XL – LinkNet FTTH Build-to-Suit (“B2S”)
13 Jun 2023 Partnership relevant with XL Axiata’s business activities. Tanudiredja, Wibisana, Rintis & Rekan that they
N N N N
The Board Audit Committee further noted that worked independently and did not have conflict
› Confirmation of previous BAC Meeting management continued to exert efforts to of interests in auditing XL Axiata’s financial
› Internal Audit Matters implement good corporate governance in 2023. statements.
› Risk & Compliance Update
10 Jul 2023 N N N N
› Regulatory Update › Review of Financial Results › Review on the Implementation of Audit
› Related Party Transaction (RPT) Update – read
Based on the independent auditor’s review on Service Delivery on XL Axiata Annual
only
XL Axiata’s financial results and representation Financial Statement by External Auditor
› Arrangement of Fiber Optic Cable Utilization with made by Board of Directors, the Board The Board Audit Committee evaluated the
PT. Indosat Ooredoo Hutchison (“IOH”)
› Impairment assessment at XL and investment in
Audit Committee concluded that the annual implementation of audit service delivery of
associate Link Net consolidated financial statements were prepared the Company’s annual financial statement by
› Other matters, including carried forward issues in accordance with Indonesian Generally Public Accounting Firm Tanudiredja, Wibisana,
21 Jul 2023 N N N N
from the prior period. Accepted Accounting Principles. The Board Rintis & Rekan, that covers the conformity
› Billing System Transformation (Phase 2 and phase Audit Committee recommended to the Board of audit implementation with the applicable
3) project status and ITGC considerations
› New OJK Disclosing segment reporting Regulation.
of Directors, through Board of Commissioners, auditing standard, the adequacy of fieldwork
› Audit Strategy Memorandum that the audited financial statements for the period, the assessment of audit scope
year ended December 31, 2023, to be included coverage and adequacy of audit sampling, and
› Affiliated Party Transaction with PT Link Net Tbk
11 Aug 2023 N N N N in XL Axiata’s Annual Report to Shareholders recommendation for improvement provided by
Update/Valuation
and filed to OJK. the external auditor.
› Confirmation of previous BAC Meeting
› Internal Audit Matters
17 Oct 2023 N N N N
› Risk & Compliance Update › Review on the Implementation of Non-
› Regulatory Update Assurance Service by External Auditor
25 Oct 2023 › Q3 2023 Financial Report N N N N No non-assurance services performed by the
External Auditor in 2023.
› Affiliated Party Transaction with PT Link Net Tbk
Update/Valuation
7 Nov 2023 N N N N
› Proposal of Board of Investment Committee (BIC)
TOR
6 Dec 2023 › ADL Turnkey Service N N N N
Total Attendance 13/13 13/13 13/13 11/13
Attendance Rate 100% 100% 100% 85%
162 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 163
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
NOMINATING AND
NOMINATING AND REMUNERATION COMMITTEE
REMUNERATION COMMITTEE
Pursuant to OJK Regulation No. 34/POJK.04/2014 on the Nomination and Remuneration Committee of Issuers
or Public Companies, the Company has a Nominating and Remuneration Committee in place. As of 31 December B.T. Lim
2023, the members of the Committee are as follows: Nominating and Remuneration Committee Member
73 years old as of December 20233
Indonesian
Basis of Appointment
Muliadi Rahardja Circular Resolution of the Board of Commissioners dated 13 March 2015, and
Nominating and Remuneration Committee Chairman he continues his term as Committee Member.
64 years old Terms of Appointment
Indonesian From 2019 until the closing of GMS in 2024.
Basis of Appointment Educational Background
Decision of the Board of Commissioners No. 03/2017 dated 15 August 2017. › University Graduate, Computer Science NOVI, Amsterdam,
› The Netherlands, 1971
Terms of Appointment
From 2019 until the closing of GMS in 2024.
Profile
Profile on Educational Background, Professional Experience, Concurrent
Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in Professional Experience
the Chapter of Corporate Governance in this Annual Report. Aside from serving as Independent Commissioner of PT Erajaya Swasembada Tbk, he also has 29 years of
experience in various key/strategic positions such as Director or CEO in world-class multinational companies
such as Hewlett Packard Indonesia and Smartfren Telecom. He’s also had 11 years of prior experience working as
Senior Management in various IT companies in the Netherlands.
Concurrent Positions
Independent Commissioner of PT Erajaya Swasembada Tbk.
Dr Hans Wijayasuriya
Nominating and Remuneration Committee Chairman Affiliate Relations
None
55 years old
British Association Membership
None
Basis of Appointment
Resolution of the Board of Commissioners No. 3.S/20 dated 3 June 2022. Trainings in 2023
› Navigating Uncertainties: Key Catalyst for Investment, Four Season Hotels, Jakarta. 23 August 2023.
Terms of Appointment › Wealth Summit, Kempinsky Hotel, Jakarta, 30-31 August 2023.
2019 until the closing of GMS in 2024.
Profile
Profile on Educational Background, Professional Experience, Concurrent
Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in
the Chapter of Corporate Governance in this Annual Report.
164 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 165
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
NOMINATING AND REMUNERATION COMMITTEE NOMINATING AND REMUNERATION COMMITTEE
STATEMENT OF NRC COMMITTEE MEMBER
Mochamad Hira Kurnia INDEPENDENCE CRITERIA
Nominating and Remuneration Committee Member
Pursuant to its Charter and referring to the OJK In accordance with the provisions of POJK No.
51 years old as of December 2023
Regulation No. 55/POJK.04/2015, the Nominating 34/2014 and the NRC Committee Charter, the
Indonesian
and Remuneration Committee acts independently in NRC Chairman is an Independent Commissioner.
Basis of Appointment carrying out its duties and responsibilities, free from The NRC consists of (as appointed through the
The Board of Commissioners’ Decree No. 1/21 dated 11 February 2021. the interference of any party and in compliance with Board of Commissioners meeting) at least three (3)
Terms of Appointment relevant laws and regulations. The independence members, with one (1) Chairman of the NRC who
From 2021 until the closing of GMS in 2024 of the Nominating and Remuneration Committee is also serves as a member and the other members
further affirmed by having a Committee Chairman consisting of: (i) Board of Commissioners members;
Educational Background
who is an Independent Commissioner and Committee (ii) external parties competent to the Company (not
› Master of Management and Business Administration, University of Prasetiya
Mulya, 2017. Members from independent parties. All members of affiliated with the Board of Commissioners/ Board of
› Bachelor’s Degree in Telecommunications Engineering, University of the Nominating and Remuneration Committee from Directors/Company and not a member of any other
Brawijaya, 1995. independent parties have met the independence Company Committees); and (iii) individuals holding
requirements as set out in the Personal Statement, a senior HR (Human Resources) position under the
signed at the time of appointment and documented Board of Directors.
Professional Experience › 2023 Data Privacy Refresher, Disprz, 31 December by the Corporate Secretary.
› Member of Nomination and Remuneration 2023.
Committee, PT XL Axiata (2021 – present)
› Chief Human Capital Officer, PT XL Axiata (2021
› 2023 Enterprise Risk Management, Disprz, 31 DUTIES AND RESPONSIBILITIES
– present) ›
December 2023.
2023 Cybersecurity Refresher, Disprz, 31
COMMITTEE CHARTER OF THE NOMINATING AND
› Human Capital, PT XL Axiata (2007 – 2021)
› Network Transmission Roles as Expert up to ›
December 2023.
2023 GDSC Training, Disprz, 31 December 2023. The Committee has established a Nomination and REMUNERATION COMMITTEE
Manager, PT XL Axiata, (2001 - 2007) › 2023 Business Continuity Management, Disprz, 31 Remuneration Committee Charter (NRC Charter)
› Lead Engineer, PT Lucent Tech Australia (1999 – December 2023. that serves as the foundation for the Committee's The main duties of the Committee are in accordance
2001)
› Engineer, PT Excelcomindo Pratama (1996 – 1999) Awards and Recognition 2023 operations. The NRC Charter has been aligned with with OJK Regulation No. 34/POJK.04/2014, which
1. SPEX 2 DX Award, The Best SPEx2 ® (Strategy OJK Regulation No. 34/POJK.04/2014 and was includes analysing candidates for the Board of
Concurrent Positions and Performance Execution Excellence) approved by the Board of Commissioners on 13 Directors or the Board of Commissioners proposed
None Company in Telecommunication Industry, JS March 2015. in Committee meetings or through circular decisions,
Luwansa Hotel, 6 July 2023.
Affiliate Relations in line with the requirements for qualifications and
2. HR Asia:
None › The Best Company to Work for 2023 background of the candidates. These proposals will
Association Membership
› The Swift Action – Digital Transformation TERM OF OFFICE then be presented to and approved by the GMS.
Ritz Carlton Jakarta, Pacific Place, 27 June
None
2023 The term of office for NRC members is regulated Additionally, the Committee also reviews and
3. HR Excellence Award 2023
Training in 2023 in the NRC Committee Charter. NRC members provides recommendations on compensation,
Attained Very Good
› Leadership for Digital Transformation, Barcelona, can be appointed for a specific period and can be including remuneration schemes for members of the
20 February 2023. › Learning & Development (L&D) and
Knowledge Management reappointed. The term of office for NRC members Board of Commissioners and the Board of Directors,
› 2023 Mobile World Congress, Barcelona, 27
February 2023. › HR Digitization and People Analytic cannot exceed the term of the BOC members taking into account the position of each member
› 2023 GDSC Training, Disprz, 30 September 30, › Employer Branding and Talent Acquisition as determined by the Company’s Articles of including their duties, responsibilities, and other
Hotel Shangrila, Jakarta, 20 July 2023
2023. Association. applicable general policies.
4. Business Week
› Executive Briefing K3 Management System
Human Capital & Performance Award 2023
(SMK3) PP No. 50 of 2012 Training, XL Axiata
› The Best Reward and Recognition Strategy Based on the authority granted by the General
Training Center, 17 October 2023.
2023 (Telecommunication Operator) Meeting of Shareholders, the Nominating and
› 2023 Anti-Bribery and Anti-Corruption (ABAC)
Refresher, Disprz, 31 December 2023. › The Best Human Capital Director of the Year Remuneration Committee determines the scheme
Hotel Mulia Senayan, 29 November 2023
and amount of remuneration for the Board of
Commissioners.
166 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 167
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD RISK AND COMPLIANCE
NOMINATING AND REMUNERATION COMMITTEE
COMMITTEE
COMMITTEE MEETING POLICY
The Committee Meeting Policy is regulated under the Charter and is in accordance with POJK. No. 34/
POJK.04/2014, whereby Committee Meetings are held at least once every four months. The Company’s Board Risk and Compliance Committee was established by the Board of Commissioners’
Decree No. 1.S/20 dated 3 April 2020, and is accountable to the Board of Commissioners.
The following are details of the NRC meeting agenda, frequencies, and attendance in 2023:
As of 31 December 2023, the Committee consists of a Chairman and two Committee members, as follows:
MEETING JENIS MULIADI M. HIRA DR. HANS
NO DATE AGENDA AGENDA TYPE BT LIM
NO. (R/S) RAHARDJA KURNIA WIJAYASURIYA
1 16 Feb 23 1/23 R 2022 Corporate Scorecard Remuneration N N N N
Result Discussion Yasmin Stamboel Wirjawan
Board Risk and Compliance Committee Chairman
2022 Directors Scoracerd Remuneration
Result Discussion 55 Years old
2023 Corporate & CEO Remuneration Indonesian
Scorecards Discussion Basis of Appointment
2 31 May 23 2/23 R 2023 Corporate Scorecard Remuneration N N N N Board of Commissioners’ Decree No. 1.S/20 dated 3 April 2020.
Discussion
2023 Corporate Scorecard Remuneration Terms of Appointment
29 April 2019 until the closing of GMS in 2024.
Discussion
Director’s Term of Office Nomination Profile
Discussion Profile on Educational Background, Professional Experience, Concurrent
3 14 July 23 1.S/23 S Discussion on Remuneration Remuneration N N N N Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in
Discussion of Candidates Nomination the Chapter of Corporate Governance in this Annual Report.
for members of the Board
Statement of Independence
of Commissioners and
According to the Terms of Reference, All or majority of the Committee shall
Directors
be independent commissioners who shall act independently in carrying out its
4 16 Oct 23 3/23 R Recommendation on change Nomination N N N N duties and responsibilities.
of BOC Composition
Board Assessment Nomination Trainings in 2023
Evaluation FY 2023 Refer to the sub-chapter of Corporate Governance of this Annual Report under
Profiles of the Board of Commissioners.
5 11 Dec 23 2.S/23 S Recommendations for Nomination N N N N
changes in the composition
and reappointment of
members of the Board of
Julianto Sidarto
Commissioners and Board of
Board Risk and Compliance Committee Member
Directors
Total Meeting FY 2023 5/5 5/5 5/5 5/5 62 Years old
Indonesian
Total Attendance Frequency FY 2023 100% 100% 100% 100%
Basis of Appointment
Board of Commissioners’ Decree No. 1.S/20 dated 3 April 2020.
IMPLEMENTATION OF THE COMMITTEE’S DUTIES IN 2023
Terms of Appointment
29 April 2019 until the closing of GMS in 2024.
In performing its duties, the NRC has aligned with the Financial Services Authority Regulation No. 34/
POJK.04/2014 dated 8 December 2014 regarding the Nominating and Remuneration Committee of Issuers Profile
or Public Companies. Profile on Educational Background, Professional Experience, Concurrent
Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in
the Chapter of Corporate Governance in this Annual Report.
The following are salient points of NRC duties throughout 2023:
1. Reviewed the Company’s and Director’s scorecard result for the year 2022; Statement of Independence
2. Reviewed the Corporate Scorecard and CEO Scorecard for the financial year 2023; According to the Terms of Reference, All or majority of the Committee shall
3. Conducted the board performance evaluation process for the year 2023 which supported by Corporate Secretarial; be independent commissioners who shall act independently in carrying out its
duties and responsibilities.
4. Reviewed and monitored the leader’s successor and engagement;
5. Reviewed and determined the BOC Remunerations; Trainings in 2023
6. Reviewed and provided recommendations on the BOD Remunerations; Refer to the sub-chapter of Corporate Governance of this Annual Report under
7. Reviewed and provide recommendations for the Director’s performance. Profiles of the Board of Commissioners.
168 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 169
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD RISK AND COMPLIANCE COMMITTEE BOARD RISK AND COMPLIANCE COMMITTEE
Abid Adam
Board Risk and Compliance Committee Member
42 years old
South Africa
Basis of Appointment
Circular Resolution of the Board of Commissioners dated 15 July 2022.
Terms of Appointment
From 15 July 2022 until the closing of GMS in 2024.
Educational Background
He holds a bachelor’s in computer science degree from University of South
Africa (2011). He also joins Leadership in the Digital Age program from Insead
Singapore Campus (2019).
Professional Experience
He served as Group Chief Information Security Officer (CISO) & Group Head of Privacy at Axiata Group from Q4
2017 to Q1 2020. Currently, he also serves as Group Chief Risk Compliance Officer since March 2020 until now.
Concurrent Positions
› Group Chief & Risk Compliance Officer
› Chairman of Board of Audit, Risk and Compliance of Axiata Digital & Analytics Sdn Bhd
› Chairman of Board Risk and Compliance of Boost Holding Sdn Bhd
Affiliate Relations
Yes
Association Membership STATEMENT OF Duties and Responsibilities
None
INDEPENDENCE According to the Terms of Reference, the primary
functions of the BRCC are to assist XL Axiata Board
Statement of Independence
According to the Terms of Reference, All or majority of the Committee shall be independent commissioners who of Commissioners to fulfill its responsibilities with
shall act independently in carrying out its duties and responsibilities Based on the Charter, the Risk & Compliance regard to risk management and compliance. The
Committee acts independently in carrying out its Committee is responsible in determining whether
Training in 2023
› i-4 ASPAC Regional Meeting (as speaker), Singapore, 8 February 2023 duties and responsibilities, free from the interference there are robust processes in place for identifying,
› GR&C Compliance Workshop, Kuala Lumpur, 28 February-3 March 2023 of any party and in compliance with relevant assessing, and monitoring the following:
› Public Sector Internal Audit Conference (as Moderator), Singapore, 20 April 2023 laws and regulations. All members of the Risk &
› Kuala Lumpur, Dicyfor Security Summit (as speaker), Kuala Lumpur, 10 May 2023 Compliance Committee have met the independence 1. key business risks to safeguard shareholders’
› 3rd Annual Cybersecurity & Threat Intelligence Summit & Awards 2023, Kuala Lumpur, 16 May 2023 requirements as outlined in the Personal Statement, investment and the Company’s assets;
› Cloud Threat Summit, Virtual, 7 June 2023
› Roundtable session - The Role of AI in Enhancing Security and Agility for Distributed Enterprises, Kuala Lumpur, signed at the time of appointment and documented 2. cybersecurity risks and risks relating to data
22 June 2023 by the Corporate Secretary. privacy;
› Converged Telecommunications Policy & Regulations (CTPR) Master Class: Panellist session -- Theme: 3. Risks arising from non-compliant practices and
Cybersecurity Policy and Regulatory Issues (as speaker), Putrajaya, 24 July 2023 COMMITTEE CHARTER behaviours, particularly relating to Anti-Bribery
› Google Cloud CISO Community, Bangkok, Thailand, 5-6 September 2023 Anti-Corruption (ABAC);
› Insights@Axiata (as speaker), Kuala Lumpur, 21 September 2023
› Khazanah Megatrend Forum 2023, Kuala Lumpur, 2-3 October 2023 The Committee has a Working Charter (BRCC Terms 4. Environmental, Social and Governance (ESG)
› From Ideation to Execution: Design Thinking Workshop, Kuala Lumpur, 17-18 October 2023 of Reference) used as the basis of the Committee’s risk;
› Setia Gvoernance Risk & Audit Forum (SGRAF) 2023, Selangor, 17 November 2023 work with latest adjustments that have been 5. regulatory compliance risk
› PNB Planet Cyber 2023, Kuala Lumpur, 28 November 2023 approved by Decree of BOC No. 5/23 dated 30
› Axiata Finance Summit 2023 (jointly organized with PwC), Kuala Lumpur, 4 December 2023 October 2023. In carrying out its responsibilities, the BRCC’s
› Managing Cyber Risk - Insights for Boards and Senior Management (Asia School of Business), Kuala Lumpur,
5 December 2023.
policies and procedures remain flexible to changes in
circumstances and conditions that are in compliance
with legal and regulatory requirements. The following
170 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 171
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD RISK AND COMPLIANCE COMMITTEE BOARD RISK AND COMPLIANCE COMMITTEE
are the primary duties and responsibilities of the their responsibilities independently of the risk- YASMIN S JULIANTO HENDRIK CHRISTOPHER EKO
ABID ADAM
WIRJAWAN SIDARTO (R&C) * KUSUMOWIDAGDO
BRCC respectively: taking activities. DATE AGENDA BRCC
BRCC BRCC BRCC (R&C) **
MEMBER
› BRCC duties and responsibilities include › To review the management’s periodic reports CHAIRMAN MEMBER SECRETARY BRCC SECRETARY
providing guidance and having oversight on on Risk and Compliance management activities, 25-Jan-23 Ratification of previous Minutes of Meeting N N N N
the Risk & Business Continuity Committee exposure and mitigating/remedial actions. Matters Arising from previous meeting
(RBCC) in terms of deliberation, risk assessment › To ensure that all governance instruments are Cyber Security and Data Privacy Update
and management of risk and compliance reviewed and updated continuously to reflect Risk & Compliance Report
matters, which include areas of Enterprise Risk changes in the operating environment. ESG Risk Update
Management (including Business Continuity › To ensure ongoing awareness programmes, 31-Jan-23 Regulatory Risk Update N N N N
and Crisis Management), Cybersecurity, communication, training and education on Risk 01-Feb-23 Financial and Operational result N N N N
Privacy, Ethics & Integrity Compliance (“Risk & and Compliance management. 10-Apr-23 Ratification of previous Minutes of Meeting
Compliance”), and ESG risk. › To provide advice to the BOC on Risk and
N N N N
Matters Arising from previous meeting
› BRCC shall provide guidance and having Compliance strategies and coordinate the Cyber Security and Data Privacy Update
oversight on Regulatory compliance risk which activities of various standing board committees Risk & Compliance Report
Not Yet A BRCC
include but not limited to requirements imposed for risk oversight. ESG Risk Update Secretary
by telecommunications regulators, capital › To promote a healthy risk and compliance culture Regulatory Risk Update
market authority, central bank, Local Authorities and behaviours that ensures the effectiveness 28-Apr-23 Financial and Operational result
and domestic trade (e.g., anti-profiteering and of the Risk and Compliance management
N N N N
12-Jul-23 Ratification of previous Minutes of Meeting N N N N
commercial dealings of our dealers/distributors) processes (e.g., discourage excessive risk-
Matters Arising from previous meeting
where applicable. taking, bribery and corruption due to misaligned
BRCC and RBCC TOR Update
› To ensure XL Axiata adopts sound and effective key performance indicators and remuneration
Cyber Security and Data Privacy Update
policies, procedures and practices for all its schemes).
Risk & Compliance Report
Risk and Compliance functions and ensure › To consider other matters relating to Risk and
ESG Risk Update
adequate testing to improve its resilience and Compliance management, including relevant
10-Jul-23 Regulatory Risk Update N N N N
preparedness for any eventualities. legislature applicable as referred to by the BOC
› To review and recommend the risk management or by BRCC by its own accord. 21-Jul-23 Financial and Operational result N N N N
and compliance methodologies, policies 10-Oct-23 Ratification of previous Minutes of Meeting
(including framework) and risk tolerance levels Matters Arising from previous meeting
for the approval of the appropriate authority in COMMITTEE MEETING POLICY Cyber Security and Data Privacy Update
accordance with XL Axiata Limits of Authority. Risk & Compliance Report
N N N N
No Longer
› To review and assess the adequacy of the The Committee shall meet at least four (4) times in ESG Risk Update Serves
governing policies, framework and structure in a year. The Committee Chairman shall decide if the Regulatory Risk Update
as BRCC
Secretary
place for managing Risks and Compliance as Committee requires an additional meeting. 25-Oct-23 Financial and Operational result
well as the extent to which these are operating
N N N N
29-Nov-23 Risk & Compliance Report N N N N
effectively. Committee Meeting Frequency and
› To ensure adequate infrastructure, resources SORMIC 2023 Result
Attendance
and systems are in place for effective Risk and Total Attendance during 2023 11/11 11/11 11/11 8/8 3/3
Compliance management. This includes ensuring The following are details of the BRCC meeting Percentage of attendance during 2023 100% 100% 100% 100% 100%
that the staff responsible for implementing risk agenda, frequencies, and attendance in 2023:
* Served until 31 August 2023
and compliance management systems perform ** Serves since 1 September 2023
172 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 173
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD RISK AND COMPLIANCE COMMITTEE
TRANSFORMATION ADVISORY
COMMITTEE
COMMITTEE ACTIVITY REPORT REVIEW/MONITORING ON
2023 ANTI BRIBERY AND ANTI-
In 2023, the Committee has conducted various
CORRUPTION (ABAC) The Transformation Advisory Committee (TAC) was established as a result of the Special Joint Meeting of the
activities including reporting on these things PROGRAM Board of Commissioners and Directors on 28 July 2021. TAC serves as an ad hoc committee under the Board
according to their duties and responsibilities in the of Commissioners, overseeing the progress of the Company's transformation and providing recommendations.
Terms of Reference: 1. Review on high-risk areas and improvement TAC was formed by the Board of Commissioners to operate for the same duration as the Transformation Plan,
action implementation to strengthen control in unless there is a different decision in accordance with the Company's Articles of Association, internal corporate
the high-risk areas.
governance, and business processes, as well as relevant laws and regulations.
2. Review on the policies and procedures of ABAC
REVIEWING MAIN RISKS and GDS.
3. Review on GDS (Gift, Donation, and Sponsorship This committee has been dissolved through the Resolution of the Board of Commissioners in the Board of
1. Top Risk and Emerging Risk in regards to transactions. Commissioners Meeting on 9 February 2024 considering that the Company’s transformation program has
macroeconomic stagflation, transformation 4. Review on Corruption Risk Assessment and the been implemented as the Company’s business as usual.
programs, industry consolidation and testing of ABAC Effectiveness.
competition, spectrum extension, and shortage
of chip supply. The BRCC conducted a thorough COMMITTEE MEMBERSHIP
review on management assessment every REVIEW/MONITORING ON
quarter in regards to Top Risk and Emerging Risk.
In this case, BRCC provides recommendations ENVIRONMENT, SOCIAL › TAC membership consists of the Board of Commissioners members with maximum 5 members which
combination between Independent Commissioner(s) and other members.
to the Company’s management especially in AND GOVERNANCE (ESG) › The Board of Commissioners shall have the right to appoint one or more members to increase the numbers
regards to macroeconomic, operational, and
financial implications in the future. PROGRAM of member of the Committee or to replace members of the Committee for any reason deemed appropriate.
2. Risk potential in the Cybersecurity and data › TAC members are not eligible to receive another fee or allowance from the Company. Every cost occurs
privacy aspects of the Company. 1. Review on ESG risk and improvement action related to performance of their duties can be reimbursed to the Company.
3. Review on the latest regulations especially implementation to strengthen control in the ESG › TAC shall have the right to invite special/permanent invitee in TAC meeting or discussion to support TAC’s
on risk potential that may arise in the Implementation. duties and responsibilities.
Telecommunications and Broadcasting industry. 2. Review on the materiality assessment.
4. Review on ESG implementation challenges. 3. Review on Company Net Zero Carbon Program The following are composition and profile of TAC as of 31 December 2023:
5. Strengthened the governance process with
4. Review on XL Axiata Sustainability Governance
the establishment of SORMIC Methodology for
SORMIC. implementation Dr Hans Wijayasuriya
Transformation Advisory Committee Chairman
REVIEWING/MONITORING 56 Yeras old
BUSINESS CONTINUITY British
Basis of Appointment
MANAGEMENT Resolution of the Special Joint Meeting of the Board of Commissioners and
Directors on 28 July 2021.
1. Annual review on the policy and procedure of
Terms of Appointment
Business Continuity Management (BCM). From 28 July 2021, until the Committee is dissolved, unless otherwise specified.
2. Annual review on BCM Program Management.
3. Annual review on Business Impact Analysis Profile
(BIA). Profile on Educational Background, Professional Experience, Concurrent
4. Review on the procedure of Business Continuity Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in
Plan (BCP) and results of conducting BCP drill. the Chapter of Corporate Governance in this Annual Report.
5. Annual review on overall BCM performance
evaluation.
6. Review on BCM Maturity Assessment.
174 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 175
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
TRANSFORMATION ADVISORY COMMITTEE TRANSFORMATION ADVISORY COMMITTEE
Yasmin Stamboel Wirjawan
COMMITTEE CHARTER
Transformation Advisory Committee Member
The TAC Terms of Reference is referred to as the Committee Charter, which was endorsed during the Special
55 Years old Joint Meeting of the Board of Commissioners and Board of Directors on 28 July 2021.
Indonesian
Basis of Appointment Duties and Responsibilities
Resolution of the Special Joint Meeting of the Board of Commissioners and › To provide advice to the Board of Directors on the implementation and execution of the Transformation
Directors on 28 July 2021.
Plan.
Terms of Appointment › To assess the result of the implementation and execution of the Transformation Plan regularly and report
From 28 July 2021, until the Committee is dissolved, unless otherwise specified. to the Board of Commissioners on the progress of the Transformation Plan implementation in regular basis.
› To propose corrective action on the implementation and execution of the Transformation Plan to the
Profile
Profile on Educational Background, Professional Experience, Concurrent Position, Board of Commissioners when required.
and Trainings in 2023 refer to the Board of Commissioners Profiles in the Chapter › To support the Board of Directors in the implementation and execution of the Transformation Pla.
of Corporate Governance in this Annual Report.
Committee Meeting
TAC shall establish joint meeting with Transformation Office/respective Board of Directors member at minimum
one (1) meeting every month or at any time deemed necessary to discuss the progress of Transformation
execution. The following are details of the TAC meeting agenda, frequencies, and attendance in 2023:
Vivek Sood
Transformation Advisory Committee Member
ATTENDANCE LIST
63 Years old NO. DATE AGENDA
Indian VS DHW YSW JS
Basis of Appointment 1 26 January 2023 Transformation Update n n n n
Resolution of the Special Joint Meeting of the Board of Commissioners and
2 17 April 2023 Transformation Update N n n n
Directors on 28 July 2021.
3 16 June 2023 Transformation Update N n n n
Terms of Appointment
From 28 July 2021, until the Committee is dissolved, unless otherwise specified. 4 18 August 2023 Transformation Update N n n Absent
Profile 5 27 October 2023 Transformation Update Absent n Absent n
Profile on Educational Background, Professional Experience, Concurrent
6 14 December 2023 Transformation Update n n n n
Position, and Trainings in 2023 refer to the Board of Commissioners Profiles in
the Chapter of Corporate Governance in this Annual Report. Total Attendance 5/6 6/6 5/6 5/6
Attendance Rate 83,3% 100% 83,3% 83,3%
Julianto Sidarto
Transformation Advisory Committee Member
63 Years old
Indonesian
Basis of Appointment
Resolution of the Special Joint Meeting of the Board of Commissioners and
Directors on 28 July 2021.
Terms of Appointment
From 28 July 2021, until the Committee is dissolved, unless otherwise specified.
Profile
Profile on Educational Background, Professional Experience, Concurrent Position,
and Trainings in 2023 refer to the Board of Commissioners Profiles in the Chapter
of Corporate Governance in this Annual Report.
176 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 177
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS
BOARD OF DIRECTORS
Dian Siswarini
President Director & Chief Executive Officer (CEO)
The Board of Directors is the corporate organ that is collectively authorised and responsible for managing
the Company in accordance with its purpose and objectives, as well as fulfilling the Company's vision and
Age › Vice President Director, XL Axiata (2014 - 2015)
mission as set out in the articles of association and in accordance with the mandate from shareholders and 55 years old as of December 2023 › Group Chief of Marketing and Operation Officer,
stakeholders. The Board of Directors is responsible for managing the Company's operations, implementing XL Axiata (2014)
necessary actions and policies, and ensuring that the Company operates efficiently while complying with Nationality › Joined XL Axiata by holding various key positions
relevant laws and regulations. Indonesian in the Network and Engineering Department
(1996 - 2015) and was appointed Network
Domicile
Services Director (2007 -2011) and Director/
Jakarta, Indonesia
Chief Digital Services Officer (2011 - 2014)
LEGAL REFERENCES Legal Basis of Appointment
Multiple Board Membership
Resolution of Annual General Meeting of
1. Law No. 40 of 2007 on Limited Liability Company. › President Commissioner of PT Hipernet Indodata
Shareholders dated 29 April 2019
› Commissioner of PT Link Net Tbk.
2. OJK Regulation No. 33/POJK.04/2014 on the Board of Directors and the Board of Commissioners of
Term of Office › Member of Risk Management and Business
Issuers or Public Company. Continuity Committee at XL Axiata.
29 April 2019 until the closing of Annual General
3. Articles of Association of the Company. Meeting of Shareholders 2024 › Chairman of Ethnics & Integrity Committee at XL
4. Board Manual & Code of Ethics of the Company Axiata.
Appointment History in the Company › Member of Human Capital Committee at XL
› President Director, Term 2, appointed at the Axiata.
Annual General Meeting of Shareholders 29 April › Member of Information Technology Committee
BOARD OF DIRECTORS COMPOSITION & PROFILES 2019, term of office 29 April 2019 until the closing at XL Axiata
of the Annual General Meeting of Shareholders
Changes occurred to the composition of the Board of Directors during the year. The following is the Board 2024. Affiliate Relations
› President Director, Term 1, appointed at the None
structure as of 31 December 2023:
Annual General Meeting of Shareholders 1 April
2015, term of office 2015 - 2019. Association Membership
NAME POSITION BASIS FOR APPOINTMENT TERM OF OFFICE None
› Vice President Director, Term 1, appointed at the
Dian Siswarini President Director AGMS 29 April 2019 2019-2024 Extraordinary General Meeting of Shareholders 7
Trainings and Competence Development in
January 2015, term of office 7 January 2015 - 1
Yessie Dianty Yosetya Director AGMS 29 April 2019 2019-2024 2023
April 2015. › Leadership for Digital Transformation, London, 20
Abhijit J. Navalekar Director AGMS 29 April 2019 2019-2024 › Director, Term 4, appointed at the Annual General February 2023
Meeting of Shareholders 22 April 2014, term of
David Arcelus Oses Director AGMS 18 May 2020 2020-2024 › 2023 Mobile World Congress, Barcelona, 27
office 2014 February 2023
I Gede Darmayusa Director AGMS 27 October 2020 2020-2024 › Director, Term 3, appointed at the Annual General › Indonesian Economic and Political Update, XL
Meeting of Shareholders 14 April 2011, term of
Feiruz Ikhwan Director AGMS 5 May 2023 2023-2024 Axiata Tower, 10 May 2023
office 2011 - 2014 › Indonesia Telecom Industry Update, XL Axiata
Budi Pramantika** Director EGMS 27 October 2020 2020-2024 › Director, Term 2, appointed at the Annual General Tower, 10 May 2023
Meeting of Shareholders 4 April 2008, term of
*) Serves as of 5 May 2023 › XL Axiata-Huawei Strategy Alignment Summit
office 2008 - 2011 2023, Dongguan, 19 July 2023
**) End of term as of 5 May 2023 › Director, Term 1, appointed at the Annual General › Sharing Session by Ericsson 5G India Journey, XL
Meeting of Shareholders 26 April 2007, term of Axiata Tower, 22 November 2023
office 2007 - 2008 › 2023 Business Continuity Management, Disprz,
BOARD OF DIRECTORS PROFILES Education
31 December 2023
› Advanced Management Program degree from › 2023 Anti-Bribery and Anti-Corruption (ABAC)
Refresher, Disprz, 31 December 2023
The following are the Board of Directors profiles as of 31 December 2023: Harvard Business School (2013).
› Bachelor’s Degree in Electrical Engineering from › 2023 Cybersecurity Refresher, Disprz, 31
December 2023
Institut Teknologi Bandung (1991).
› 2023 Enterprise Risk Management, Disprz, 31
Professional Background December 2023
› President Commissioner, PT Hipernet Indodata › 2023 Data Privacy Refresher, Disprz, 31 December
(June 2022 - present) 2023
› Commissioner, PT Link Net Tbk, (June 2022 – › 2023 Speaking Up/Whistleblowing, Disprz, 31
present) December 2023
› President Director, XL Axiata (2015 - present)
178 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 179
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
Yessie Dianty Yosetya Abhijit J. Navalekar
Director & Chief Commercial Officer - Home & Convergence (CCO - Home & Convergence)
Director & Chief Enterprise Business & Corporate Affairs Officer
Age Multiple Board Membership Age Multiple Board Membership
52 years old as of December 2023 Committee Members:
50 as of December 2023 Committee Members: › Chairman of Risk Management and Business
Nationality Continuity Committee at XL Axiata
Nationality › Member of Risk Management and Business British › Member of Human Capital Committee at XL
Continuity Committee in XL Axiata.
Indonesian Axiata
› Member of Cyber Security & Privacy Steering Domicile
Domicile Committee in XL Axiata Jakarta, Indonesia › Member of Information Technology Committee
› Member of Human Capital Committee in XL at XL Axiata
Jakarta, Indonesia Legal Basis of Appointment › Member of Cyber Security and Privacy Steering
Axiata
Legal Basis of Appointment › Member of Human Capital Committee in PT Resolution of Annual General Meeting of Committee at XL Axiata
Pertamina Bina Medika IHC. Shareholders dated 29 April 2019
Resolution of Extraordinary General Meeting of Affiliate Relations
Shareholders dated 27 October 2020 Affiliate Relation
Term of Office None
Term of Office None 29 April 2019 until the closing of Annual General
Meeting of Shareholders 2024 Association Membership
29 April 2019 until the closing of Annual General Association Membership None
Meeting of Shareholders 2024 Appointment History in the Company
› Co-Chair, G20 Empower, 2020 - present Training and Competence Development in 2023
Appointment History in the Company › Vice Chairman, Asosiasi iCIO Community (2022 › Director, Term 2, appointed at the Annual General
Meeting of Shareholders on 29 April 2019, term of › Leadership for Digital Transformation, London, 20
– Now)
› Director, Term 2, appointed at Annual General office 29 April 2019 until the closing of the Annual Februari 2023
Meeting of Shareholders dated 29 April 2019, Trainings or Competence Development in 2023 › Indonesian Economic and Political Update, XL
General Meeting of Shareholders 2024.
term of office 29 April 2019 until the dosing of › Director, Term 1, appointed at the Extraordinary Axiata Tower, 10 May 2023
› Executive coaching program, XL Axiata Training
Annual General Meeting of Shareholders 2024. › Indonesia Telecom Industry Update, XL Axiata
Center, 2 February 2023. General Meeting of Shareholders on 15 August
› Independent Director, Term 1, appointed at Tower, 10 May 2023.
› Leadership for Digital Transformation, London, 20 2017, term of office 2017 - 2019.
Extraordinary General Meeting of Shareholder › Sharing Session by Ericsson 5G India Journey, XL
February 2023.
dated 10 March 2016, term of office 2016 – 2019.
› 2023 Mobile World Congress, Barcelona, 27 Education Axiata Tower, 22 November 2023.
Education February 2023. MBA in Strategy, Economics, and Finance from › 2023 Cybersecurity Refresher, Disprz, 31
› Innovative Dynamic Education & Action For Warwick Business School, University of Warwick, December 2023.
Bachelor’s Degree in Electrical Engineering from Sustainability Program Asia Pacific DYNAMIC, 2000. › 2023 Enterprise Risk Management, Disprz, 31
Universitas Satya Wacana, 1997. MIT Sloan Campus Cambridge, USA, 19 – 21 April December 2023.
Professional Background 2023. Professional Background › 2023 Data Privacy Refresher, Disprz, 31 December
› Indonesian Economic and Political Update, XL › Director, XL Axiata Tbk (2017 – present)
› Commissioner, PT Hipernet Indodata (June 2022 2023.
Axiata Tower, 10 May 2023. › Partner/Vice President of Strategy, Booz &
– present) › Indonesia Telecom Industry Update, XL Axiata
› 2023 Speaking Up/Whistleblowing, Disprz, 31
Company (2014 - 2017). December 2023.
› Director, XL Axiata (2016 – present) Tower, 10 May 2023.
› Commissioner, PT One Indonesia Synergy (2016
› Principal, Booz & Company (2011-2014). › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› Sharing Session by Ericsson 5G India Journey, XL
– present) › Senior Associate, Booz & Company (2008- 2011). Refresher, Disprz, 31 December 2023.
Axiata Tower, 22 November 2023.
› Independent Director, XL Axiata (2016 – 2019) › 2023 Cybersecurity Refresher, Disprz, 31 › Associate, Booz & Company (2007- 2008). › 2023 Business Continuity Management, Disprz,
› Chief Digital Services Officer, XL Axiata (2015- December 2023. › Manager, Deloitte (2005-2007). 31 December 2023.
2016). › 2023 Enterprise Risk Management, Disprz, 31
› Vice President Digital Services, XL Axiata (2013- December 2023.
2015). › 2023 Data Privacy Refresher, Disprz, 31 December
› Senior General Manager Mobile Finance, XL 2023.
Axiata (2011-2013). › 2023 Speaking Up/Whistleblowing, Disprz, 31
› Senior General Manager IT Development, XL December 2023.
Axiata (2009-2011). › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› General Manager Business Support System, XL Refresher, Disprz, 31 December 2023
Axiata (2006-2009). › 2023 Business Continuity Management, Disprz,
31 December 2023.
180 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 181
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
David Arcelus Oses I Gede Darmayusa
Director & Chief Commercial Officer - Consumer (CCO - Consumer) Director & Chief Technology Officer (CTO)
Age Multiple Board Membership Age Multiple Board Membership
46 years old as of December 2023 Committee Members: 50 years old as of December 2023 Committee Members:
› Member of Risk Management and Business › Member of Risk Management and Business
Nationality Continuity Committee in XL Axiata. Nationality Continuity Committee in XL Axiata.
Spanish › Member of Human Committee in XL Axiata. Indonesian › Member of Cyber Security & Privacy Steering
Domicile › Member of Information Technology Committee in Domicile Committe in XL Axiata
Jakarta, Indonesia XL Axiata. Jakarta, Indonesia › Member of Human Capital Committee in XL
Axiata.
Legal Basis of Appointment Affiliate Relations Legal Basis of Appointment › Member of Information Technology Committee in
Resolution of Extraordinary General Meeting of None Resolution of Extraordinary General Meeting of XL Axiata.
Shareholders dates 27 October 2020 Association Membership Shareholders dates 27 October 2020
Affiliate Relation
Term of Office None Term of Office None
18 May 2020 until the closing of Annual General Training and Competence Development in 2023 27 October 2020 until the closing of Annual General
Meeting of Shareholders 2024 Meeting of Shareholders 2024 Association Membership
› Leadership for Digital Transformation, London, 20 None
Appointment History in the Company February 2023. Appointment History in the Company
Director, Term 1, Appointed at Extraordinary General › Indonesian Economic and Political Update, XL Director, Term 1, appointed at the Extraordinary Trainings and Competence Development in
Meeting of Shareholders dated 18 May 2020, term Axiata Tower, 10 May 2023. General Meeting of Shareholders dated 27 2023
of office 18 May 2020 until the closing of Annual › Indonesia Telecom Industry Update, XL Axiata October 2020, term of office 27 October 2020 › Leadership for Digital Transformation, London, 20
General Meeting of Shareholders 2024. Tower, 10 May 2023. until the closing of the Annual General Meeting of February 2023.
› Sharing Session by Ericsson 5G India Journey, XL Shareholders 2024 › 2023 Mobile World Congress, Barcelona, 27
Education Axiata Tower, 22 November 2023. February 2023.
› MBA from IESE Business School, 2006. › 2023 Business Continuity Management, Disprz, Education › XL Axiata – Huawei Strategy Alignment Summit
› MBA (International Exchange Program) from 31 December 2023. › MBA from Universitas Prasetya Mulia (2017). 2023, Dongguan, 19 July 2023.
Wharton School of Business, Philadelphia, United › 2023 Anti-Bribery and Anti-Corruption (ABAC) › Bachelor of Telecommunication Engineering from › Ericsson Imagine Live with XL Axiata 2023,
States 2005. Refresher, Disprz, 31 December 2023. Institut Teknologi Bandung (1996). Jakarta, 10 August 2023.
› Degree in Industrial Engineering from the › 2023 Cybersecurity Refresher, Disprz, 31 › 2023 Huawei-XL Axiata Core Summit, Jakarta, 8
Exchange Program in Universite Bordeaux I, December 2023. Professional Background September 2023.
Bordeaux, France, 2000. › 2023 Enterprise Risk Management, Disprz, 31 › Director, XL Axiata (2020 – Present) › XL MS Workshop – Huawei, Jakarta, 15 September
› Master’s degree in Industrial Engineering from December 2023. › Commissioner, PT Princeton Digital Group Data 2023.
Tecnun, Universidad de Navarra, Spain, 1995 – › 2023 Data Privacy Refresher, Disprz, 31 December Centres, (2019 – July 222) › TM Forum DTW 2023, Denmark, 19 September
2000. 2023. › (Caretaker) Chief Technology Officer, XL Axiata 2023.
› 2023 Speaking Up/Whistleblowing, Disprz, 31 (November 2019) › Sharing Session by Ericsson 5G India Journey, XL
Professional Background December 2023. › Group Head Technology Strategy & Architecture, Axiata Tower, 22 November 2023.
› Director, XL Axiata (2020 – present) XL Axiata (2019 - 2020) › 2023 Business Continuity Management, Disprz,
› Chief Marketing Officer (CMO), XL Axiata (2016 › Supervisory Board, Koperasi Karyawan XL Axiata 31 December 2023.
– 2020) › Group Head Program Management, XL Axiata › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› Associate Partner, Mckinsey & Company (2006 (2017 – 2019) Refresher, Disprz, 31 December 2023.
– 2015) › Group Head Operation Service Management, XL › 2023 Cybersecurity Refresher, Disprz, 31
› Project Manager, Gamesa Eolica, C2i Engineering Axiata (2014 – 2017) December 2023.
(2000 – 2004) › Chief Project & Implementation, Tower Bersama › 2023 Enterprise Risk Management, Disprz, 31
(2011 – 2014) December 2023.
› Lead Account Manager Services, Nokia Siemens › 2023 Data Privacy Refresher, Disprz, 31 December
Network (2004 – 2011) 2023.
› 2023 Speaking Up/Whistleblowing, Disprz, 31
December 2023.
182 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 183
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
Feiruz Ikhwan*) Budi Pramantika**)
Director & Chief Financial Officer (CFO)
Director
Age Multiple Board Membership Age Multiple Board Membership
48 years old as of December 2023 › Member of Risk and Business Continuity 50 years old as of December 2023 Committee:
Committee in XL Axiata › Member of Risk Management and Business
Nationality Continuity Committee in XL Axiata.
Nationality › Chairman of Gift, Donation and Sponsorship
Indonesian › Chairman of Gift, Donation, and Sponsorship
Malaysian Committee in XL Axiata
› Member of Ethics and Integrity Committee in XL Domicile Committee in XL Axiata.
Domicile Axiata Jakarta › Member of Ethics and Integrity Committee in XL
Jakarta › Member of Human Capital Committee in XL Axiata.
Axiata Legal Basis of Appointment › Member of Human Capital Committee in XL
Legal Basis of Appointment › Member of Information Technology Committee in Resolution of Annual General Meeting of Axiata.
Resolution of the Extraordinary General Meeting of XL Axiata Shareholders dated 27 October 2020 › Member of Information Technology Committee in
Shareholders dated 5 May 2023 XL Axiata.
Term of Office
Affiliate Relations
27 October 2020 until the closing of Annual General Affiliate Relation
Term of Office None
Meeting of Shareholders 2024 None
5 May 2023 until the closing of Annual General
Meeting of Shareholders 2024 Association Membership Appointment History in the Company Association Membership
CMA (Chartered Management Accountant) and Director, Term 1, appointed at the Extraordinary None
Appointment History in the Company Chartered Global Management Accountant (CGMA), General Meeting of Shareholders dated 27
Director, Term 1, appointed at the Extraordinary Chartered Institute of Management Accountants October 2020, term of office 27 October 2020
General Meeting of Shareholders dated 5 May (CIMA), United Kingdom until the closing of the Annual General Meeting of
2023, term of office 5 May 2023 until the closing of Shareholders 2024. **) End of term as of 5 May 2023
the Annual General Meeting of Shareholders 2024. Trainings and Competence Development in
2023 Education
Education › Indonesian Economic and Political Update, XL › MBA from IPMI International Business School,
Axiata Tower, 10 May 2023 2004
› Bachelor of Science, Economics (Accounting &
Finance) from The London School of Economics › Indonesia Telecom Industry Update, XL Axiata › Bachelor in Accounting from Universitas
Tower, 10 May 2023 Indonesia, 1997
and Political Science (LSE)
› Chartered Management Accountant and › 2023 GDSC Training, Disprz, 30 September
Professional Background
Chartered Global Management Accountant from 2023
› Director, XL Axiata (2020 – May 2023)
Chartered Institute of Management Accountants › Sharing Session by Ericsson 5G India Journey, XL
› Deputy Chief Finance Officer, XL Axiata (2020)
(CIMA), United Kingdom Axiata Tower, 22 November 2023
› Group Head Finance, XL Axiata (2019 – 2020)
› 2023 Business Continuity Management, Disprz,
› ASEAN-Regional CFO, GE Healthcare (2017 –
Professional Background 31 December 2023
2019)
› Director, PT XL Axiata Tbk (May 2023 – present) › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› Country CFO, GE Indonesia (2016 – 2017)
› Advisor to CEO, PT XL Axiata Tbk (February – Refresher, Disprz, 31 December 2023
› Asia Pacific Regional CFO, GE Transportation
May 2023) › 2023 Cybersecurity Refresher, Disprz, 31
(2014 – 2017)
› Acting Chief Executive Officer of Smart Axiata December 2023
› Asia Pacific CFO, GE Power Services (2011 – 2014)
Co. Ltd., (2021 – February 2023) › 2023 Enterprise Risk Management, Disprz, 31
› Chief Financial Officer, Smart Axiata Co,Ltd December 2023
(2018 – 2021) › 2023 Data Privacy Refresher, Disprz, 31
› Group Head Finance, PT XL Axiata Tbk (2017 – December 2023
2018) › 2023 Speaking Up/Whistleblowing, Disprz, 31
› Vice President Strategic Finance, PT XL Axiata December 2023
Tbk (2015 – 2017)
› Vice President Pricing & Capacity Management, *) Effectively serves as of 5 May 2023
PT XL Axiata Tbk (2014 – 2015)
› Head of Investor Relations, Business Control,
Corporate Finance, PT XL Axiata Tbk (2011 – 2014)
› Head of Investor Relations, Axiata Group Berhad
(2008 – 2011)
184 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 185
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
BOARD CHARTER AND CODE 4. Corporate Documents Aside from the abovementioned duties and responsibilities of the Board of Directors, the specific duties of
Maintain all important lists, registries and each member of the Board are detailed below:
OF ETHICS corporate documents, including resolutions,
minutes of GMS, Board of Directors, Board of
The Company has a Work Guideline and Code of Commissioners meetings within The Company’s
Responsible for coordinating all Company’s operational activities, including overseeing
Ethics for the Board of Director as stated in the Board overall management, also compliance with laws and regulations, as well as supervising
domicile and provide Shareholders’ access to Dian Siswarini the CEO’s Office directorate which consists of Corporate Secretary, Internal Audit,
Manual. The Board Manual serves as a guideline for them as required by laws. President Director & CEO Transformation Project, Human Capital groups, and IT Digital and Analytics, including
members of the Board to maintain professional Enterprise Strategy Planning & Architect, IT Core & Customer Platform, IT PM &
and productive work relationships, and to foster 5. Corporate Accounts Transformation, BPM & Digital Workspace, Technology Security, Digital (Customer)
efficiency in carrying out their duties. Maintain all corporate accounts and financial
Touchpoint, Analytic and Data Managemen.
documents in accordance with accounting
The Board Manual includes the following: Feiruz Ikhwan esponsible to supervise the Finance directorate which consists of Finance, Financial
standards and provide Shareholders’ access to Accounting, Finance Business Control, Procurement, and Contract Management, also
1. Criteria and composition. them as required by law and Articles of Association. Director & Chief Financial
managing and controlling the Company’s business plan and its execution, including
2. Duties and responsibilities. Officer
the preparation of financial statements, taxes, and financial management, as well as to
3. Code of Ethics that includes arrangements for 6. Integrated Annual Report control the activity of XL Axiata investor relations.
conflicts of interest, confidentiality of Company Within 5 months of fiscal year end, prepare
4. Documents and compliance with prevailing annual report which at least includes: (a) financial Yessie D. Yosetya Responsible to supervise Enterprise Business & Corporate Affairs Directorate which
regulations. procedures for procuring meetings statements that contains the data for the latest Director & Chief Enterprise consists of Enterprise Product & Marketing, National & Strategic Enterprise, Solution &
include the quorum of the meeting and the right Business & Corporate Affairs Technical Account Management, Wholesale & Reseller, Legal, Regulation & Government
financial year and the financial year immediately Officer Relations and Corporate Communication & ESG.
to vote. prior to it (including a profit and loss statement,
5. Remuneration. cash flows, any equity changes, and any other Responsible to supervise the Commercial Consumer directorate which consists
6. Distribution of authority. relevant data); (b) the Company’s activity report; (c) David Arcelus Oses of Marketing consisting of Mass Segment, Youth Segment, Premium Segment, and
a corporate social responsibility statement; (d) any Direktur & Chief Commercial GTM consisting of Commercial GTM, West Region, Jabo Region, Central Region, and
Officer - Consumer (CCO - East Region, also Indirect Channel Management, Direct Channel Management, Digital
DUTIES AND RESPONSIBILITIES incidents that occurred which may impact on the
Consumer) Channel Touch Point, Commerce Planning, Customer Contact Center and Customer
Company’s activities; (e) a report from the Board
OF THE BOARD OF DIRECTORS of Commissioners on their supervisory activities
Value Management, and also making sure that all functions of the organization are
aligned to meet its strategic commercial objectives.
over the previous financial year; (f) the names of
1. Articles of Association Approvals, Registration all Board of Directors, Board of Commissioners Responsible to supervise Commercial Home and Convergence directorates which
Abhijit J. Navalekar
and Gazetting members; and (g) any salary or honorarium consists of Corporate Strategy, Strategic Partnership, Digital Partnership, and Home
Director & Chief Commercial
Submit the Company’s Articles of Association payments made to the members of the Board of Business including Home Product & Marketing and Home Business Operation. This shall
Officer – Home &
include determining the business strategy and monitoring the agreed implementation,
and any amendments to them to the Ministry of Commissioners and Board of Directors. Convergence
and also responsible for the business incubation and strategic partnership in alignment
Law & Human Rights for approval or registration with the overall company strategy.
and to the State Printer for gazetting. 7. Board of Directors Meetings
Convene meetings as per prevailing regulations. Responsible to supervise the Technology directorate which consists of Risk &
2. Share Registry I Gede Darmayusa Compliance, Technology Strategy & Alignment, Network Planning & Design, Program
Create and maintain (or appoint a Share Registrar 8. Business Plan Management, and Service Operation Management, and also acquiring new technology
Director & Chief Technology and define strategy adoption, allocating and managing capex for company initiatives,
to do so) a registry of shares recording: (a) name Provide the Board of Commissioners for approval Officer building capacity and resiliency of the core network and managing all programs
and address of all Shareholders; (b) the sum, of the Company’s business plan and budget no through Program Management Office.
number, and date of acquisition of the shares or later than 60 days prior to the close of fiscal year,
collective share certificates; (c) name and address failing of which the previous years’ business plan
of pledge of company’s shares; (d) any other shall apply.
important information.
9. Corporate Strategy
3. Special Share Registry Determine the corporate strategy, and review,
Create and maintain a special registry containing monitor and oversee the implementation of the
the share ownership and business relations of the said corporate strategy.
Board of Directors, the Board of Commissioners
and their respective families in the Company’s and 10. Company Vision and Purpose
the date(s) those shares were acquired. Determine the Company vision and purpose
regularly, and review to ensure the Company
vision and purpose are inline and relevant with the
Company’s business.
186 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 187
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
Aside from the abovementioned voluntary
REQUIREMENTS AND
resignation, the terms of office of Board members
APPOINTMENT POLICY FOR shall be automatically ended upon the following
THE BOARD OF DIRECTORS conditions:
1. If he/she is involved in a civil, criminal, monetary
crime and/or other dispute in a judiciary
The appointment of the Company’s Board of Directors
institution and/or arbitration institution
is regulated in the Senior Executive Nomination
whether in Indonesia or a foreign country, or
Policy. The candidates of the Board as proposed
an administrative dispute with an authorized
by Shareholders and/or Minority Shareholders
government institution including any dispute in
are submitted to the Company’s Nominating and
relation to manpower/industrial matters.
Remuneration Committee through the Corporate
2. If he/she passed away.
Secretary.
3. If he/she is not reappointed upon the end of
his/her term of office.
The Nominating and Remuneration Committee will
4. Dismissed by the GMS.
then review the nomination proposal during the
5. Declared bankrupt or insolvent by the court.
Nominating and Remuneration Committee Meeting
6. No longer qualified by the prevailing legislation
to ensure the candidates fulfil the requirements,
and regulation.
qualifications as well as having the right background,
prior to submission to the GMS to be approved.
The Board of Commissioners is authorized to
suspend a member of the Board of Directors,
The requirements as well as qualifications of the
which would result in the suspended member being
Board of Directors members refer to POJK No. 33/
unable to perform their obligations to the Company
POJK.04/2014 and as required by the Company,
until the end of the suspension period or until the
which includes a diversity of skills as well as the total
General Meeting of Shareholders (GMS) revokes the
composition of the Board.
suspension. Any suspension of a member of the
Board of Directors must be based on Resolutions 5. Minutes of meeting must be prepared as
BOARD OF DIRECTORS
of the Board of Commissioners, and the suspended documentation of decisions made at the
POLICY ON THE BOARD OF MEETINGS
member must be formally notified in writing. meeting.
DIRECTORS RESIGNATION Subsequently, the Board of Commissioners must 6. The Board of Directors meeting minutes must
convene a GMS to either revoke or confirm the be made in writing and signed by all present
The Company’s Articles of Association and the Board of Directors Meeting Policy
suspension. members of the Board of Directors, and must
Board Manual outline the policy for the resignation In general, meeting policy for the Board consists of
be communicated to all members of the Board
of members of the Board of Directors, which requires the following:
of Directors.
them to submit a formal written resignation letter to BOARD OF DIRECTORS TERM 1. Scheduling the meeting is determined by the
7. The Board of Directors may make decisions
the Company. The letter should be addressed to the OF OFFICE Corporate Secretary.
without calling a Meeting, however the decision
Nominating and Remuneration Committee (NRC) 2. Board Meeting is chaired by the President
must be approved and signed in one or more
and include a copy for the Board of Directors and The Terms of Office of the Company’s Board of Director. In the event that the President Director
documents through facsimile, email or other
Corporate Secretary. After receiving the resignation Directors is five (5) years and he/she may be re- is not present, each Director appointed by a
methods of written communications.
letter, the Company will convene a General Meeting appointed for the same period. If a Director is member of the present members of the Board
of Shareholders (GMS) to make a decision regarding appointed to replace a vacant position (either by may Chairman the meeting.
the resignation. The Company is required to hold a termination or otherwise), then he/she shall serve 3. In the event that a Director cannot be present Board of Directors Meetings in 2023
General Meeting of Shareholders to decide on the the remaining term of the vacant position/existing at the Board meeting, he/she may authorize In 2023, the Board of Directors has convened
resignation of a member of the Board of Directors of the Director. another Director as proxy. A Director can only 56 meetings with the following meeting agenda,
within a maximum period of 90 (ninety) days after be a proxy for one (1) other Director. frequencies, and attendance:
the resignation letter is received. 4. A Board meeting decision is only valid if at least
more than half of the Board members or their
proxies are present in the meeting.
188 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 189
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
BOARD OF DIRECTORS MEETING
DIAN YESSIE D. ABHIJIT J. DAVID BUDI I GEDE FEIRUZ
NO. TYPE STATUS
NO DATE AGENDA SISWARINI YOSETYA NAVALEKAR ARCELUS OSES PRAMANTIKA DARMAYUSA IKHWAN
MEETING (R/S) (APPROVAL/NOTING)
(DS) (YDY) (AJN) (DAO) (BP) (IGD) (FI)
1 9-Jan-23 1/23 R Procurement Discussion Approval
FY2022 Performance Update
N N N N N N
Noting
Sales Distribution Discussion
2 12-Jan-23 1.S/23 S Sales Distribution Discussion Approval N N N N N N
3 17-Jan-23 2/23 Internal Program Discussion Approval
Joint BOC BOD Meeting Preparation Discussion Noting N
R N N N N N
Business Plan 2023 Discussion Approval (Proxy to DAO)
Data Privacy Discussion Noting
4 24-Jan-23 3/23 Funding Plan Discussion Approval
R Procurement Discussion Approval N N N N N N
(Proxy to DAO)
Human Capital Discussion Noting
5 31-Jan-23 4/23 Funding Plan & Net Profit Allocation Discussion Approval
Procurement Discussion Noting
R N N N N N N
Joint BOC BOD Meeting Preparation Discussion Noting
Data Privacy Discussion Noting
6 6-Feb-23 5/23 Budget Discussion Approval
N Not yet a BOD
R Business Plan 2023 Discussion Approval N N N N N
(Proxy to DS) Member
Subsidiary Company Discussion Approval
7 14-Feb-23 6/23 Procurement Discussion Approval
Cost Saving Discussion Noting
2023 Monthly Performance Update Noting
R N N N N N N
Regulatory Discussion Noting
Sales Distribution Discussion Approval
Asset Discussion Approval
8 2-Mar-23 7/23 Joint BOC BOD Meeting Preparation Discussion Noting
Procurement Discussion Approval
R N N N N N N
Sales Distribution Discussion Approval
Data Privacy Discussion Noting
9 7-Mar-23 8/23 Network Discussion Noting
R N N N N N N
Subsidiary Company Discussion Noting
10 14-Mar-23 9/23 R Risk and Compliance Discussion Approval
Treasury Shares Discussion Approval
Procurement Discussion Approval N
2023 Monthly Performance Update Noting
N (Proxy to IGD)
N N N N
Data Privacy Discussion Noting
Medical Insurance Discussion Approval
11 23-Mar-23 02.S/23 S Sales Distribution Discussion Approval
Funding Plan Discussion Approval N N N N N N
Corporate Event Discussion Noting
190 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 191
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
DIAN YESSIE D. ABHIJIT J. DAVID BUDI I GEDE FEIRUZ
NO. TYPE STATUS
NO DATE AGENDA SISWARINI YOSETYA NAVALEKAR ARCELUS OSES PRAMANTIKA DARMAYUSA IKHWAN
MEETING (R/S) (APPROVAL/NOTING)
(DS) (YDY) (AJN) (DAO) (BP) (IGD) (FI)
12 28-Mar-23 10/23 R Budget Discussion Approval
Network Discussion Noting N N N N N N
Data Privacy Discussion Noting
13 4-Apr-23 11/23 R Procurement Discussion Approval
Commercial Discussion Approval
Business Plan 2023 Discussion Noting
N N N N N N
Joint BOC BOD Meeting Preparation Discussion Noting
Board Assessment FY 2022 Result Noting
14 11-Apr-23 12/23 R Network Discussion Noting
IT Discussion Noting
2023 Monthly Performance Update Noting N N N N N N
Data Privacy Discussion Noting Not yet
Subsidiary Company Discussion Approval a BOD
Member
15 18-Apr-23 13/23 R Regulatory Discussion Approval
Associated Company Annual General Meeting of
Approval N N
Shareholders N N N N
(Proxy to AN) (Proxy to IGD)
Procurement Discussion Approval
Joint BOC BOD Meeting Preparation Discussion Noting
Business Plan 2023 Discussion Approval
16 3-May-23 14/23 R
Legal Matters Discussion Approval
Commercial Discussion Noting
Enterprise Discussion Noting N N N N N N
(Proxy to YDY)
Joint BOC BOD Meeting Preparation Discussion Noting
Data Privacy Discussion Noting
Procurement Policy Discussion Approval
Enterprise Discussion Noting
17 9-May-23 15/23 R N N N N N N
2023 Monthly Performance Update Noting
18 16-May-23 16/23 R Enterprise Discussion Approval
Legal Matters Discussion Noting N N N N N N
(Proxy to FI)
Data Privacy Discussion Noting
19 26-May-23 17/23 R Enterprise Discussion Approval No Longer a
N BOD Member
Network Discussion Approval N N N N N
(Proxy to DS)
Joint BOC BOD Meeting Preparation Discussion Noting
20 30-May-23 18/23 R Network Discussion Noting
Risk and Compliance Discussion Noting
Joint BOC BOD Meeting Preparation Discussion Noting
N N N N N N
Data Privacy Discussion Noting
192 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 193
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
DIAN YESSIE D. ABHIJIT J. DAVID BUDI I GEDE FEIRUZ
NO. TYPE STATUS
NO DATE AGENDA SISWARINI YOSETYA NAVALEKAR ARCELUS OSES PRAMANTIKA DARMAYUSA IKHWAN
MEETING (R/S) (APPROVAL/NOTING)
(DS) (YDY) (AJN) (DAO) (BP) (IGD) (FI)
21 6-Jun-23 19/23 R Corporate Action Discussion Approval N N N N N N
Joint BOC BOD Meeting Preparation Discussion Noting
22 13-Jun-23 20/23 R Related Party Transaction Plan Discussion Approval
Investment Discussion Approval
N N N N N N
2023 Monthly Performance Update Noting
Corporate Action Plan Discussion Approval
23 20-Jun-23 21/23 R Network Discussion Noting
Joint BOC BOD Meeting Preparation Discussion Noting
N N N N N N
24 27-Jun-23 22/23 R Procurement Discussion Approval
Investment Discussion Approval
IT Discussion Noting N N N N N N
(Proxy to DS)
Commercial Discussion Noting
Sales Distribution Discussion Approval
25 30-Jun-23 03.S/23 S Strategic Discussion Approval
Regulation Discussion Noting
N N N N N N
26 4-Jul-23 23/23 R Enterprise Discussion Approval
Procurement Discussion Noting
Commercial Discussion Approval
N N N N N N
Human Capital Discussion Noting
27 11-Jul-23 24/23 R Network DIscussion Noting No Longer
N N N N a BOD N N
2023 Monthly Performance Update Noting (Proxy to IGD) (Proxy to FI)
Member
28 18-Jul-23 25/23 R Strategic Discussion Noting N N N
IT Discussion Noting
N N (Proxy to FI) (Proxy to YDY)
N
29 23-Jul-23 04.S/23 S Related Party Transaction Plan Discussion Noting
N N N N N N
Regulation Discussion Noting
30 25-Jul-23 26/23 R Commercial Discussion Approval
Enterprise Discussion Approval
IT Discussion Approval
N N N N N N
Procurement Discussion Approval
31 26-Jul-23 05.S/23 S Related Party Transaction Plan Discussion Approval
27-Jul-23 N N N N N N
BOD Discussion Approval
29-Jul-23
32 1-Aug-23 27/23 R Budget Discussion Noting
Business Plan 2024 Discussion Noting N N N N N N
(Proxy to FI)
Regulation Discussion Noting
33 8-Aug-23 28/23 R IT Discussion Noting
Business Plan Discussion Noting N N N N N N
2023 Monthly Performance Update Noting
34 15-Aug-23 29/23 R Business Plan 2024 Discussion Noting N
Additional Company's Business Activity Discussion Noting
N N N N (Proxy to YDY)
N
35 18-Aug-23 06.S/23 S Related Party Transaction Plan Discussion Approval N N N N N N
194 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 195
Page 100
CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
DIAN YESSIE D. ABHIJIT J. DAVID BUDI I GEDE FEIRUZ
NO. TYPE STATUS
NO DATE AGENDA SISWARINI YOSETYA NAVALEKAR ARCELUS OSES PRAMANTIKA DARMAYUSA IKHWAN
MEETING (R/S) (APPROVAL/NOTING)
(DS) (YDY) (AJN) (DAO) (BP) (IGD) (FI)
36 22-Aug-23 30/23 R IT Discussion Approval
Procurement Discussion Approval N N N N N N
Corporate Action Discussion Approval
37 29-Aug-23 31/23 R Board and Board Committee Policy Discussion Approval
Strategic Discussion Noting N N N N N N
Procurement Discussion Approval
38 5-Sep-23 32/23 R Enterprise Discussion Approval
Corporate Action Discussion Approval N
Business Plan 2024 Discussion Noting (Proxy to YDY)
N N N N N
Data Privacy Discussion Noting
39 12-Sep-23 33/23 R Network Discussion Noting
2023 Monthly Performance Update Noting
N N N N N N
(Proxy to YDY)
Regulation Discussion Noting
Additional Company's Business Activity
40 19-Sep-23 34/23 R Approval
Discussion
N N N N N N
Internal Policy Discussion Approval (Proxy to YDY)
Joint BOC BOD Meeting Preparation Discussion Noting
41 26-Sep-23 35/23 R Board Strategy Retreat Preparation Discussion Noting N N N N N N
(Proxy to DS) No Longer
42 3-Oct-23 36/23 R Legal Matters Discussion Noting a BOD
Board Strategy Retreat Preparation Discussion Noting Member
N N N N N N
Network Discussion Noting
43 9-Oct-23 37/23 R Enterprise Discussion Approval
Commercial Discussion Noting
2023 Monthly Performance Update Noting
N N N N N N
Regulation Discussion Noting
Subsidiary Company 2024 Business Plan
44 17-Oct-23 38/23 R Approval
Discussion
Related Party Transaction Plan Discussion Approval N N N N N N
Human Capital Discussion Noting
Spectrum Discussion Approval
45 18-Oct-23 07.S/23 S Related Party Transaction Plan Discussion Approval N N N N N N
46 24-Oct-23 39/23 R Additional Company's Business Activity Discussion Approval
Procurement Discussion Approval
Internal Policy Discussion Approval N N N N N N
Network Discussion Noting
Related Party Transaction Plan Discussion Approval
47 31-Oct-23 40/23 R Procurement Discussion Approval
Related Party Transaction Plan Discussion Approval
N N N N N N
48 7-Nov-23 41/23 R Corporate Event Discussion Approval
Enterprise Discussion Noting N N N N N N
(Proxy to DAO)
Joint BOC BOD Meeting Preparation Discussion Noting
196 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 197
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
DIAN YESSIE D. ABHIJIT J. DAVID BUDI I GEDE FEIRUZ
NO. TYPE STATUS
NO DATE AGENDA SISWARINI YOSETYA NAVALEKAR ARCELUS OSES PRAMANTIKA DARMAYUSA IKHWAN
MEETING (R/S) (APPROVAL/NOTING)
(DS) (YDY) (AJN) (DAO) (BP) (IGD) (FI)
49 14-Nov-23 42/23 R Additional Company’s Business Activity Discussion Approval
Subsidiary Company 2024 Business Plan Approval N N N N N N
(Proxy to DS)
Discussion
Joint BOC BOD Meeting Preparation Discussion Noting
50 21-Nov-23 43/23 R Corporate Event Discussion Approval
Legal Matters Discussion Approval N N N N N N
Commercial Discussion Noting
Sales Distribution Discussion Approval
51 28-Nov-23 44/23 R Budget Discussion Approval
Asset Discussion Approval
Subsidiary Company Discussion Approval
N N N N N N
Data Privacy Discussion Noting
52 5-Dec-23 45/23 R IT Discussion Approval
Subsidiary Company’s Corporate Action
Approval
N N N N No Longer N N
Discussion a BOD
53 12-Dec-23 46/23 R Corporate Event Discussion Approval Member
Procurement Discussion Noting
Network Discussion Noting N N N N N N
Regulation Discussion Noting
2023 Monthly Performance Update Noting
Asset Discussion Approval
54 19-Dec-23 47/23 R Internal Policy Discussion Approval
Commercial Discussion Noting N
Joint BOC BOD Meeting Preparation Discussion Noting
N N N (Proxy to YDY)
N N
IT Discussion Approval
55 15-Dec-23 08.S/23 S Related Party Transaction Plan Discussion Noting N N N N N N
56 27-Dec-23 09.S/23 S IT Discussion Noting N N N N N N
Total Attendance During 2023 56/56 56/56 56/56 56/56 16/16 56/56 40/40
Percentage of Attendance During 2023 100% 100% 100% 100% 100% 100% 100%
Regular Meetings 47 Yes 54 49 51 51 16 52 40
Special Meetings 9 No 0 0 0 0 0 0 0
Total Meetings 56 Yes with Proxy 2 7 5 5 0 4 0
Note:
No circular decision of the Board of Directors published in 2023.
198 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 199
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
BOARD OF DIRECTORS BOARD OF DIRECTORS
TRAININGS OF THE BOARD OF Committee based on the achievement of the Key PERFORMANCE ASSESSMENT LOAN POLICY FOR
DIRECTORS Performance Indicator (KPI) with the Company’s FOR COMMITTEES UNDER THE MEMBERS OF THE BOARD
achievements and certain targets (if any).
BOARD OF DIRECTORS OF COMMISSIONERS AND
Each member of the BOD always develops his/her In a collegial manner the performance of the Board DIRECTORS
competency in order to support the implementation is reported in the GMS. The GMS then provides In carrying out its duties, the Board of Directors is
of his/her duties and responsibilities. The competency full release and discharge (acquit et de charge) to assisted by the Information Technology Committee, The Company’s Remuneration Policy for Senior
development can be in the form of participation in the Board of Directors for the management of the Risk Management and Business Continuity Executive forbids personal loan to members of the
seminar, training or as a speaker in events related to company during Year. Committee, Ethics and Integrity Committee, Human Board of Directors and the Board of commissioners.
the Company’s business scope. Capital Committee, and the Gift, Donation &
Self-Assessments Sponsorship Committee. SHARE OWNERSHIP POLICY
In 2023, members of the Board of Directors The Company conducted an independent BY THE BOARD OF DIRECTORS
participated in various trainings to support their assessment on the Board of Directors in 2023, The Board of Directors has evaluated the performance
duties as the Board of Directors. The detailed which included Board Effectiveness, peer-to-peer of the Committees in 2023 and determined that they & BOARD OF COMMISSIONERS
information is presented on the Profile section of assessment with fellow members of the Board and have effectively and efficiently fulfilled their duties. The
the Board Members in this Corporate Governance Cross-Board Assessments with each member of assessment was based on the Committees’ periodic Share Ownership and Transactions of Members of
Chapter. the Board of Directors. The assessment includes reports, inputs, and recommendations related to their the Board of Commissioners and Directors Based
understanding the roles, duties and responsibilities responsibilities, as well as their duties as detailed in this on the Policy on Share Ownership by the Board of
Board Induction Program as well as evaluating the Company’s GCG. The Integrated Annual Report. Commissioners and Directors enacted by the Board
The Company has an Induction Program for assessment results will be used as recommendations of Directors on 16 August 2016, each member of
every newly appointed member of the Board of for the Company’s GCG improvements and as one the Board of Commissioners and Directors must
Commissioners and Board of Directors. The Induction of the basic considerations of the respective Board SUCCESSION POLICY OF THE periodically disclose the share ownership of the
Program is organized by the Corporate Secretary member to be reappointed. BOARD OF DIRECTORS Company or other company by his/herself or his/her
in the form of presentation on the Company’s families through a Special Register of Shareholder
fundamental matters as follows: Assessor which is distributed and kept by the Corporate
1. The Company’s strategy, which includes business The Nominating and the Remuneration Committee The Company’s Director Succession Policy requires Secretary Division.
plans, branding, and technology and networks. conducted a self-assessment of the Board of that the chosen individual undergo a sequence of
2. Presentation of Governance include: Directors. self-improvement activities that pertain to their job In accordance with the Policy on Share Ownership
a. Duties, responsibilities and authorities as and personal growth, which includes training, as well by the Board of Commissioners and Directors, every
members of the Board of Directors and/or Assessment Method as participating in a collaborative team approach to sale and purchase of the Company’s shares by
the Board of Commissioners. The assessment method was carried out using address specific problems. each member of the Board of Commissioners and
b. Policies related to governance. a quantitative approach through data collection Directors must be notified to the Corporate Secretary
techniques by distributing questionnaires containing The Company’s Nominating and Remuneration to be further reported to the Financial Services
In 2023, the Board Induction Program for the Board questions or statements that must be answered by Committee holds a significant responsibility in Authority (OJK) as stipulated in the Regulation No.
of Directors was carried out for new member of the all members of the Board of Directors and by each selecting the Director nominee. The Director has the 11/POJK.04/2017 Regarding Ownership Reports or
Board of Directors, Feiruz Ikhwan, by the Corporate member of the Board of Directors as part of the option to designate an existing employee, including Any Change in Public Company Share Ownership.
Secretary on 8 May 2023. cross-board assessments. those listed in the Company’s Talent Pool, as a
successor. The competence of potential Director
The assessment criteria for the performance successors will be evaluated on a regular basis SHARE OWNERSHIP BY
BOARD OF DIRECTORS evaluation of the Board of Directors include Board through an internal panel system and an independent MEMBERS OF THE BOARD
PERFORMANCE ASSESSMENT Structure, Dynamics & Functioning, the Board's Role third-party assessment.
OF COMMISSIONERS AND
in Governance, and the Financial Reporting Process,
POLICY Internal Controls, Risk Management. The appointment of a Director candidate will DIRECTORS
adhere to the process and guidelines outlined in the
By the Nominating and Remuneration Assessment Results Nomination Policy, while also considering the current As of 31 December 2023, share ownership of
Committee The Board of Directors, as an organ of the Company, laws and regulations pertaining to the appointment members of the Board of Commissioners and
has carried out its duties and responsibilities in of a Director. Directors is as disclosed in the Corporate Data
Performance assessment of each member of the accordance with prevailing regulations and relevant Chapter of this Integrated Annual Report.
Board of Directors and the President Director is standards.
carried out by the Nominating and Remuneration
200 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 201
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
INFORMATION TECHNOLOGY
INFORMATION TECHNOLOGY COMMITTEE
COMMITTEE
NO DATE AGENDA DIAN YESSIE D. DAVID I GEDE BUDI ABHIJIT J. FEIRUZ RICO
SISWARINI YOSETYA ARCELUS DARMAYUSA PRAMANTIKA* NAVALEKAR IKHWAN* USTHAVIA
OSES FRANS**
1 25 Jan 2023 1. Ratification for 2023 N N N Absent N N
9:15 – 10:01 Transformational
[DI Converged] Project
The Information Technology Committee (IT 1. Discuss and evaluate the information technology Charter.
Committee) was established by the Board of strategic roadmap to support XL Axiata’s value 2. Ratification for 2023 Priority
[DT Priority] Project Charter
Directors in September 2012 to support the creation goals, including examining the selection
Company’s business plan and strategic roadmap, of technology and trade-offs that are in line with 2 16 Feb 2023 1. DI2 – 360 Convergent N N N N N N
13:00 – 14:00 Analytics
particularly in information technology. the Company’s overall Strategy, and the IT Master 2. DT4.1 – AIF Business Value of
Not Yet a
Member
Plan, including but not limited to: 2022 Implementation
of the
› IT Architecture (Applications, Data, 3. Super App Strategy Update
Committee
MEMBERSHIP AND PROFILE Infrastructure) 3 30 Mar 2023 1. DI1 – Unified Customer N N N Absent N N
14:00 – 15:00 Facing Touchpoints
› IT strategic plans 2. DI2 – 360 Convergent
The term of office of membership of the IT Committee 2. Discusses innovation projects from an Analytics
follows the term of office of the Board of Directors information technology perspective, presenting 3. DT3.3 - Integrated digital
process, empowered by
unless otherwise specified based on the decision of the creation of value potential and relevant risks, converged analytics &
the Board of Directors. before being submitted for approval by the reporting
relevant Director. 4 17 May 2023 1. DI2 – 360 Convergent Absent Absent Absent Not Yet a
The membership of the IT Committee as of 31 3. Discuss and review future technological 10:00 – 11:00 Analytics
N N N Member
2. DT4.1 – Intelligent of the
December 2023 is as follows: innovations and report the results of the
Automation/AIF Committee
› Rico Usthavia Frans, Chairman assessment on the potential impact of 3. DI1 – Unified Customer
› Yessie D. Yosetya, Member disruptions on the network and/or IT Roadmap, Facing Touchpoints
› Dian Siswarini, Member as well as XL Axiata's overall strategy. 5 27 Jun 2023 1. Action Log N N N N N N
› David Arcelus Oses, Member 4. Collecting solutions to problems from business 14:00 – 15:00 2. E2E Digitalization Update
3. Household ID &
› Feiruz Ikhwan, Member units/stakeholders, and ensuring alignment with
360-Convergent Analytics
› Abhijit J. Navalekar, Member XL Axiata’s overall strategy. 4. Cyber Security Protection
› I Gede Darmayusa, Member Progress Update
5. Unified Customer Facing
Touchpoints (UCFT)
The Profiles of IT Committee Members are presented IT COMMITTEE TERMS OF
in sub chapter of the Board of Directors Profile in this REFERENCE 6 9 Aug 2023
9:00 – 10:00
1.
2.
Action Log
Improvement Way of
N N Absent N Absent N
Annual Report. Working
3. 360-Convergent Analytics &
No longer
In carrying out its duties, the IT Committee has a Terms Household ID Update
served as
DUTIES AND RESPONSIBILITIES of Reference which regulates, among others, the
4. IT Cyber Security Progress
Update
Member
duties and authorities of the Committee as well as the of the
5. Unified Customer Facing
Committee
The IT Committee is tasked with ensuring that the procurement policy of the Committee Meeting. Touchpoints
information technology strategic plan is in line with 7 13 Sep 2023 1. Action Log Absent N N N Absent N N
10:00 – 11:06 2. Generative AI
XL Axiata's business objectives and plans and in
3. Unified Customer Facing
accordance with applicable regulations. COMMITTEE INDEPENDENCE Touchpoints
4. IT Data Privacy & Protection
5. 360-Convergent Analytics &
The IT committee must ensure that every decision The IT Committee carries out its duties and
AI Factory Update
and recommendation meet the following aspects: responsibilities professionally and independently,
8 23 Oct 2023 1. Action points update N N N N Absent Absent N
› Capable of enabling future information without interference from any party and in line with 11:00 – 12:05 2. 360CA Priority Use Case
technology and digitalization to be competitive applicable laws and regulations. Update
and advantageous for XL Axiata. 3. Product Onboarding
4. Observability
› In alignment with XL Axiata’s strategic roadmap,
particularly in regards to investments in IMPLEMENTATION OF IT 9 4 Dec 2023 1.
13:00 – 14:07 2.
Action Item
360-Convergent Analytics
N N Absent N Absent Absent N
Information Technology. COMMITTEE MEETINGS 3. 3L5W Catastrophe Issues
4. IT Risk Control Plan
5. 2023 Key Takeaways
In achieving this goal, the Information Technology As od 31 December 2023 the IT Committee has held
Committee has the following duties and responsibilities: Total Attendance during 2023 7/9 9/9 6/9 3/3 4/9 4/6 3/3
9 (nine) meetings as follows:
Percentage of Attendance during 2023 78% 100% 78% 67% 44% 71% 100%
202 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 203
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
INFORMATION TECHNOLOGY COMMITTEE RISK MANAGEMENT AND BUSINESS CONTINUITY COMMITTEE
IMPLEMENTATION OF IT COMMITTEE DUTIES IN 2023 Profiles for I Gede Darmayusa, Dian Siswarini, Yessie D. Yosetya, David Arcelus Oses, Abhijit J. Navalekar, Feiruz
Ikhwan are presented in Corporate Governance Chapter of this Annual Report under Profiles of the Board of
Throughout 2023, the IT Committee has carried out all the duties and responsibilities of the Committee. In Directors, and Profile for Muchammad Hira Kurnia is presented in Corporate Governance Chapter of this Annual
particular, the Committee has implemented a Transformation program in 2023, including but not limited to: Report under the Nominating and Remuneration Committee sub-chapter.
› Enhanced digital sales channels via digitization initiatives and enhanced customer experiences. The following are profiles of non-management committee members:
› Improved productivity across all business units and support functions by utilizing artificial intelligence and
digital automation.
› Emerged as a reliable Digital provider by ensuring robust privacy and cybersecurity governance in
accordance with global standards. Marwan Oemar Baasir
› Conducted routine monitoring of program implementation. Risk Management and Business Continuity Committee Member
Age Concurrent Positions
53 years old as of December 2023 None
Nationality Affiliate Relations
Indonesian None
RISK MANAGEMENT AND Domicile
Jakarta
Association Membership
None
BUSINESS CONTINUITY Basis of Appointment
Assignment Letter No. 0048/HCSS-RM/A/
Trainings in 2023
› Leadership for Digital Transformation, London, 20
COMMITTEE
September 2023 February 2023.
› 2023 Mobile World Congress, Barcelona, 27
Term of Office
February 2023.
24 November 2020 – Present
› 2023 Business Continuity Management, Disprz,
Professional Experience In the Company 30 September 2023.
XL Axiata: › 2023 Data Privacy Refresher, Disprz, 30
› Chief of Corporate Affairs (2020 – present) September 2023.
› Group Head of Regulatory & Government › 2023 Enterprise Risk Management, Disprz, 30
The Risk Management and Business Continuity Committee (RBCC) was established by the Board of Directors
Relation (2014-2020) September 2023.
on 7 May 2013, pursuant to the Decree of BOD Meeting No. 47/20 dated 24 November 2017. › Head of Regulatory & Government Relation
› 2023 Cybersecurity Refresher, Disprz, 31
(2012- 2014)
December 2023.
› 2023 Enterprise Risk Management, Disprz, 31
COMMITTEE MEMBERS & PROFILES PT Bakrie Telecom Tbk:
› Executive Vice President External Relation & December 2023.
Business Development (2011-2012) › 2023 Data Privacy Refresher, Disprz, 31 December
As of 31 December 2023, membership of the Committee consists of: › Vice President Business Development (2008 – 2023.
› I Gede Darmayusa, Committee Chair 2011) › 2023 Speaking Up/Whistleblowing, Disprz, 31
› Dian Siswarini, Member December 2023.
Educational Background
› Yessie D. Yosetya, Member › 2023 Anti-Bribery and Anti-Corruption (ABAC)
› Bachelor of Law, Universitas Pancasila, 2021
› David Arcelus Oses, Member Refresher, Disprz, 31 December 2023.
› Master of Law from Universitas Gadjah Mada,
› Feiruz Ikhwan. Member 2017 › 2023 Business Continuity Management, Disprz,
› Bachelors’ Degree in Electronic Engineering from 31 December 2023.
› Abhijit J. Navalekar, Member
› Muchammad Hira Kurnia, Member Institut Sains dan Teknologi (ISTN), 1992
› Marwan Oemar Baasir, Member
› Christopher Eko Kusumowidagdo, Secretary
204 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 205
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
RISK MANAGEMENT AND BUSINESS CONTINUITY COMMITTEE RISK MANAGEMENT AND BUSINESS CONTINUITY COMMITTEE
compliance matters which include areas Company to ensure business continuity in
Christopher Eko Kusumowidagdo of Enterprise Risk Management (including extraordinary events or crises, including
Risk Management and Business Continuity Committee Secretary Business Continuity and Crisis Management), the third party that directly involves in
Compliance ("Risk & Compliance") and ESG the effectiveness of Business Continuity
risks; and to thereafter present the updates, Management.
Age Trainings in 2023
42 years old as of December 2023 deliberations of key matters discussed to the › To support and promote Business Continuity
› FUSION – Digital Experience for Finance, XL
Axiata Training Center, 10 February 2023. BRCC. Management culture into every process and
Nationality
Indonesian › Storytelling with Data Workshop, Hotel Santika › To ensure the Company adopts sound and business activity of the Company.
Premier, 1 March 2023. effective policies, procedures, and practices › To review and approve the adequacy
Domicile
Jakarta, Indonesia › FUSION-Cloud Accounting Assessment, Virtual, 4 for all its Risk and Compliance functions as well of the Business Continuity Management
May 2023. as adequate testing to improve its resilience framework, methodology, and procedures.
Basis of Appointment
Letter of Assignment No. 0048/HCSSRM/A/ › Technology Days 2023 - Reinvent Humanity, and preparedness for any eventualities. › To set, monitor, and evaluate the
September 2023 Unlocking New Values of Telco Industry, Zhumu, › To review and recommend the risk effectiveness of Business Continuity
14 June 2023.
Terms of Appointment management and compliance methodologies, Management implementation within all
› 2023 Anti-Bribery and Anti-Corruption (ABAC)
1 September 2023 - Present policies (including framework), and risk Divisions to support the Company strategy.
Refresher, Disprz. 30 June 2023.
Educational Background tolerance levels for the appropriate authority’s
› 2023 Cybersecurity Refresher, Disprz, 30 June
› Master of Business Administration, Nanyang 2023. approval in accordance with the Company’s 3. Other Responsibilities:
Technological University Singapore, 2011 Limits of Authority. › To ensure that ad-hoc/periodical reports on
› 2023 Speaking Up/Whistleblowing, Disprz, 30
› Bachelor in Engineering (Electrical & Electronic), › To review and assess the adequacy of risk management implementation and/or
June 2023.
Nanyang Technological University, 2004
› Axiata Group Risk & Compliance Conference, the governing policies, framework, and Business Continuity implementation and/ or
Professional Experience Virtual, 31 July 2023. structure in place for managing risk and Compliance implementation are submitted
› Group Head Risk and Compliance, XL Axiata,
› Generative AI in XL Axiata, How?, XL Axiata compliance as well as the extent to which correctly and in timely manner in compliance
2023 – present
Training Center, 24 August 2023. these are operating effectively. with the prevailing rules or provisions to the
› Head of Financial Planning & Analysis, XLO Axiaa,
May 2020 - August 2023 › Stock Price Forecasting on Telco Companies › To ensure adequate infrastructure, Board Risk and Compliance Committee
› Senior Manager – Business Development & Joint in Indonesia, XL Axiata Training Center, 18
resources, and systems are in place for and/ or Board of Audit Committee and/or
Venture, PT AKR Corporindo, June 2019 – April September 2023.
effective risk and compliance management. Board of Commissioners and/or Regulators.
2020 › Radio Frequency as a Vital Infrastructure for the
› Finance Manager – Indonesia & Philippines, GE Telecommunications Industry, XL Axiata Training These include ensuring that the staff › Ensure ongoing awareness programs,
Power Service, May 2016 – May 2019 Center, 21 September 2023. responsible for implementing risk and communication, training, and education on
› Raid Primer Session for Axiata Legal and Risk & compliance management systems perform Risk & Compliance management.
Concurrent Positions
None Compliance Teams, Virtual, 24 October 2023. their responsibilities independently of the › Provide advice to the BOD and BRCC on
risk- taking activities. Risk & Compliance strategies and coordinate
Affiliate Relations
None › To ensure that all governance instruments various management committees' activities
are reviewed and updated continuously to for risk oversight.
Association Membership
None reflect changes in the operating environment. › Promote a healthy risk and compliance
› To review the risk and compliance matters culture and behaviors that ensure the
highlighted by the Group Head Risk and effectiveness of the Risk & Compliance
Compliance on all strategic or investment management processes (e.g., discourage
transactions such as a merger, acquisition, excessive risk-taking, bribery, and corruption
partnership, joint venture, etc. independently due to misaligned key performance indicators
Since August 2023, the scope of work for the › Duties and responsibilities reviewing, to identify the bribery & corruption risks and remuneration schemes).
Committee has been extended to supervising the deliberating and managing risk and and compliance matters in relation to the › Consider other matters relating to Risk
effectiveness of Risk Management, implementation compliance matters which include areas transaction. Such risk and compliance & Compliance management, including
of Continuity Management and Compliance of Anti- of Enterprise Risk Management (including matters should also be reported to BOD relevant legislation applicable as referred to
Bribery Anti-Corruption policy in the Company, Business Continuity and Crisis Management), periodically or as required. by the BOD or BRCC and/or BAC.
including but not limited to the Environmental, Social, Compliance ("Risk & Compliance") and ESG › Assess the results of the ABAC monitoring
and Governance (“ESG”) and Regulatory Compliance. risks; and to thereafter present the updates, 2. Duties related with Business Continuity review conducted regularly based on the
deliberations of key matters discussed to the Management: risk-based compliance plan.
The Committee's duties are as follows: BRCC. › To set strategic objectives and Business
1. Duties related with Risk Management and › Duties and responsibilities reviewing, Sustainability Management Policy of the
Compliance: deliberating and managing risk and
206 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 207
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
RISK MANAGEMENT AND BUSINESS CONTINUITY COMMITTEE RISK MANAGEMENT AND BUSINESS CONTINUITY COMMITTEE
COMMITTEE CHARTER NO DATE AGENDA
I GEDE
DARMAYUSA
DIAN
SISWARINI
YESSIE D
YOSETYA
DAVID
ARCELUS
BUDI
PRAMANTIKA*
FEIRUZ
IKHWAN**
ABHIJIT J.
NAVALEKAR
M. HIRA
KURNIA
MARWAN O.
BAASIR
HENDRIK
(R&C)
CHRISTOPHER EKO
KUSUMOWIDAGDO
(R&C)
OSES SECRETARY***
SECRETARY****
The Committee has a Working Charter (RBCC Terms of Reference) used as the basis of the Committee’s work Ratification of previous RBCC
Minutes of Meeting
with latest adjustments that have been approved by Decree of BOD No. 31/23 dated 29 August 2023.
Matters Arising from previous
meeting
09-Oct-
STATEMENT OF INDEPENDENCE 4
23
Risk Management & Compliance
Update
N N N N No
Longer
N N N Absent No
Longer
N
Serves Serves
Business Continuity as RBCC
as RBCC
The RBCC carries out its professional and duties and responsibilities independently, without any interference Management
Member Secretary
from any party and complies with prevailing legislations and regulations. ESG Risk Update
Risk Management & Compliance
23-Nov- Update
5
23 N Absent N N N Absent N Absent N
MEETING POLICY AND ATTENDANCE SORMIC 2023 Result
Total Attendance during 2023 5/5 4/5 5/5 4/5 2/2 3/3 4/5 5/5 3/5 3/3 2/2
The Committee’s Meeting Policy is regulated under the RBCC Terms of Reference, and meets at least once in Percentage of attendance during 2023 100% 80% 100% 80% 100% 100% 80% 100% 60% 100% 100%
four months.
*) Served until 5 May 2023
**) Serves as RBCC member since 5 May 2023 following AGMS resolution FY 2023
In 2023, the RBCC convened in 5 (five) meetings. More detail on the RBCC meetings can be seen below: ***) Served until 31 August 2023
****) Serves since 1 September 2023
CHRISTOPHER EKO
DAVID HENDRIK
I GEDE DIAN YESSIE D BUDI FEIRUZ ABHIJIT J. M. HIRA MARWAN O. KUSUMOWIDAGDO
NO DATE AGENDA DARMAYUSA SISWARINI YOSETYA
ARCELUS
PRAMANTIKA* IKHWAN** NAVALEKAR KURNIA BAASIR
(R&C)
(R&C)
OSES SECRETARY***
SECRETARY****
Ratification of previous RBCC
Minutes of Meeting
COMMITTEE ACTIVITY REPORT 2023
Matters Arising from previous
meeting
› Quarterly RBCC meeting were held to to oversee the implementation of the Company’s Enterprise Risk
Management (ERM), Business Continuity management (BCM), as well as compliance.
11-Jan- Risk & Compliance Program
1
23 2023 N N N N N N N N N › Review of the ERM policy and framework.
Risk Management & Compliance › Review of the BCM policy.
Update › Reviewed the Corruption Risk Register for key business units/functions in XL Axiata and reporting on
Business Continuity Not Yet compliance monitoring and evaluation activities conducted for Fiscal Year 2023.
Management A RBCC › Monitored the implementation of the ABAC Plan
Ratification of previous RBCC Member
Minutes of Meeting
› Successful completion of the maturity assessment of the Business Continuity Programme.
› Successful completion of the ABAC Effectiveness Testing.
Matters Arising from previous
meeting › Review in regards to ESG implementation challenges.
04-Apr-
2
23
Risk Management & Compliance
Update
N N N N N N N N N Not Yet
A RBCC
Business Continuity Member
Management
ESG Risk Update
Ratification of previous RBCC
Minutes of Meeting
Matters Arising from previous
meeting
RBCC TOR Update
No Longer
06-Jul- Enterprise Risk Management Serves
3
23 Policy & Framework Update N N N N as RBCC N N N N N
Member
Risk Management & Compliance
Update
Business Continuity
Management
ESG Risk Update
208 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 209
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
HUMAN CAPITAL COMMITTEE
HUMAN CAPITAL COMMITTEE
The Human Capital Committee (HC Committee) was initiatives to increase labour productivity and productivity and requiring the views of the members of the Board, including but not limited to: industrial relations,
established by the Company’s Board of Directors on efficiency to achieve business results through Employer Value Proposition (EVP), employee engagement, and talent acquisition, and HC performance.
12 July 2019. efficiency and/or retrenchment of resources. This
includes Permanent/Contract employees and COMMITTEE CHARTER
Outsource/ Manage Resources. The Committee
COMMITTEE MEMBERS shall evaluate and propose any strategy or initiatives HC Committee has a Working Charter (HC Committee Terms of Reference) used as the basis of the Committee’s
to outsource one or more jobs/functions within the work with latest adjustment signed on 28 June 2019.
The membership tenure of HC Committee follows the departments both for labour or service supply. The
tenure of the Board of Directors unless determined proposal shall be thoroughly analysed in terms of STATEMENT OF INDEPENDENCE
otherwise by the decision of the Board. The basis of costs, risks, and benefits that have an impact on
appointment is the Decree of BOD No.20/19 dated the entire organization. HC Committee carries out its professional and duties and responsibilities independently, without any interference
18 June 2019. from any parties and complying with the prevailing legislations and regulations.
3. Employee Reward and Benefits
As of 31 December 2023, the membership of HC The Committee proposes initiatives on employee MEETING POLICY AND ATTENDANCE
Committee is as follows: rewards and benefits programs to enhance
1. Mochamad Hira Kurnia, Committee Chairman employee motivation as well as the company’s As of December 2023, the Committee has held 6 (six) meetings with details as follows:
2. Dian Siswarini, Member retention capability.
3. Budi Pramantika, Member *) NO DATE AGENDA
DIAN BUDI FEIRUZ YESSIE D. ABHIJIT J. DAVID A. I GEDE M. HIRA
SISWARINI PRAMANTIKA*) IKHWAN YOSETYA NAVALEKAR OSES DARMAYUSA KURNIA
4. Feiruz Ikhwan, Member 4. Performance Management
1 24-Feb-23 1. Performance Evaluation 2022
5. Yessie Dianty Yosetya, Member The Committee discusses the performance 2. MPP 2023
N N N N N N N N
6. David Arcelus Oses, Member management activities to further operationalize 3. HC Strategic Initiatives 2023
7. Abhijit J. Navalekar, Member the top-down decision from the Board of Directors 2 29-May-23 1. Converged Organization &
N N N N N N N
MPP
8. I Gede Darmayusa, Member meeting regarding the organization performance 2. Corporate Talent Pool
and how it cascades into each department. 3. EVP & X-Star Development
Program
Profiles of Abhijit J. Navalekar, Dian Siswarini, Yessie 4. Manpower Planning
D. Yosetya, David Arcelus Oses, Budi Pramantika, I 5. Talents Management 3 22-Aug-23 1. Performance Review H1 2023
Gede Darmayusa are presented under the sub chapter The Committee proposes a Talents Management 2. Commerce Development
N N N N N N N
Program
of the Board of Directors Profile in the Corporate Program which includes the identification, 3. MPP 2023 Update No longer
served as
Governance Chapter of this Annual Report, and Profile development and retention to mitigate labour 4 10-Nov-23 1. Organization Design for
N Committee N N N N N N
for Muchammad Hira Kurnia is presented under the competition in the market. Convergence Model Member
2. Manpower Planning & effective
sub chapter of the Nominating and Remuneration Optimization Update
3. Winning Culture
Committee profiles in this Annual Repor. 6. Learning and Development Internalization plan
The Committee discusses the learning
5 12-Dec-23 1. Operating Model Alignment
*) Budi Pramantika, no longer served as per the Annual GMS
intervention plan for employees to equip the N N N N N N N
resolution 5 May 2023.
employees with critical capability for achieving 6 18-Dec-23 1. Finalizing Key Behavior on XL
N N N N N
Winning Culture ICCC
business plans. 2. Hot Pepermint Progress
DUTIES AND RESPONSIBILITIES Update
7. Corporate Culture Total Attendance during 2023 5 1 6 6 5 5 6 6
(5/5) (1/1) (6/6) (6/6) (5/5) (5/5) (6/6) (6/6)
HC Committee is responsible for the following The Committee proposes initiatives to support
Percentage of Attendance during 2023 100% 100% 100% 100% 100% 100% 100% 100%
matters: the implementation of the companywide
1. Organization Development Corporate Culture program. *) No longer served as Committee Member effective since 5 May 2023.
The Committee evaluates the business changes and
its impact to the organization structure, propose 8. HC Policies
partial changes and/or conduct an organization The Committee proposes the new HC policies THE HC COMMITTEE DUTIES IMPLEMENTATION IN 2023
development process to cope with the business or change and/or revise the existing ones to
changes. The proposal shall be thoroughly analysed adjust and align with the changes of business The establishment of the HC Committee is intended to achieve effectiveness in decision-making in the HR field
in terms of costs, risks, and benefits that have an and organization practices. HR policy must need as well as to assist the Board of Directors in the effective decision-making process.
impact on the entire organization. approval from the Board of Directors.
The HC Committee primarily focuses on the impact of corporate initiatives, the design and implementation of
2. Manpower Planning (MPP) 9. Other HC Matters a converged organization in line with the Company's vision, talent development, the implementation of the
The Committee evaluates the current MPP in the The Committee discusses any other HC matters Performance Management System in 2023, and employee productivity.
Company and its productivity and proposes any not listed above as long as it is related to employee
210 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 211
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
GIFT, DONATION AND GIFT, DONATION AND SPONSORSHIP COMMITTEE
SPONSORSHIP COMMITTEE
HENDRIK CHRISTOPHER EKO
BUDI FEIRUZ M. HIRA
(R&C)*** KUSUMOWIDAGDO
PRAMANTIKA* IKHWAN** KURNIA
NO DATE AGENDA GDSC (R&C)****
GDSC GDSC GDSC
MEMBER & GDSC MEMBER &
CHAIRMAN CHAIRMAN MEMBER
SECRETARY SECRETARY
The Gift, Donation and Sponsorship Committee 3. GDSC of the Company provides quarterly Ratification of previous GDSC Minutes of
(GDSC) of the Company was established through the reporting of the status and relevant information Meeting
Decree of the Board of Directors No. 33/20 dated 18 or risk exposure of the GDS transactions to the Matters Arising from previous meeting
August 2020, and reports to the Board of Directors. BRCC or notation and monitoring. 1 07-Feb-23
GDSC Update N N N
4. XL Axiata practises a “No Gift” Policy where GDSC Transactions requests
The GDS Committee was established as a gifts provided or received must be treated as Compliance Monitoring Evaluation Update Not Yet A
management committee to approve GDS an exception, and approved in accordance with Ratification of previous GDSC Minutes of GDSC Membe
Transactions in accordance with the approved the LOA. Meeting
Not Yet A GDSC
Limits of Authority (LOA). The GDSC also deliberates Matters Arising from previous meeting Member and
and updates matters pertaining to the giving
2 17-Mar-23
GDSC Transactions requests N N N Secretary
and receiving of gifts, entertainment, corporate TRAININGS IN 2023 Compliance Monitoring Evaluation Update
hospitality, donations, sponsorships and corporate Annual Whitelist Review FY 2023
social responsibility (CSR) activities (collectively Educational and/or training activities of each Ratification of previous GDSC Minutes of
Meeting
known as GDS) to the Board of Directors and the member of the GDS Committee throughout 2023
25-May-
BRCC of the Company. can be found in the Board of Directors Training 3
23
Matters Arising from previous meeting
N N N
section of this chapter. GDSC Transactions requests
GDSC Term of Reference Update
COMMITTEE MEMBERS COMMITTEE CHARTER Ratification of previous GDSC Minutes of
Meeting
04-Sep- Matters Arising from previous meeting
As of 31 December 2023, the Company’s GDSC The GDS Committee has a Charter in the form of 4
23 N N N
GDSC Transactions requests
consists of a Committee Chair and three Committee Terms of Reference as working guideline and basis,
Compliance Monitoring update
members as follows: with the latest adjustments that have been effective No Longer
1. Feiruz Ikhwan, Committee Chair since obtaining approval in the Board of Directors Ratification of previous GDSC Minutes of Serves as GDSC
Meeting Chairman
2. Muchammad Hira Kurnia, Member Meeting No. 31/23 dated 29 August 2023. No Longer
Matters Arising from previous meeting Serves
3. Christopher Eko Kusumowidagdo, Member 5 16-Oct-23
GDSC Update N N as GDSC
Member and
N
MEETING POLICY AND GDSC Transactions requests Secretary
Profiles of the Committee members are presented
Whitelist review
in the Board of Directors and Committee Members ATTENDANCE Ratification of previous GDSC Minutes of
profiles in the Corporate Governance chapter of this Meeting
Annual Report. 14 Dec
Matters Arising from previous meeting
The Committee’s Meeting Policy is regulated under
6 2023 N N N
GDSC Update
the Charter, and meets quarterly or as needed, as
DUTIES AND RESPONSIBILITIES well as providing quarterly reports to the Board.
GDSC Transactions requests
Total Attendance during 2023 2/2 4/4 6/6 3/3 3/3
Percentage of attendance during 2023 100% 100% 100% 100% 100%
1. Review, deliberate, challenge and approve GDS In 2023, the GDS Committee held 6 meetings. The
transactions in accordance with GDS policy and details of the meetings are as follows: *) Served until 5 May 2023
LOA to maintain a high level of integrity. **) Serves as RBCC member since 5 May 2023 following AGMS resolution FY 2023
***) Served until 31 August 2023
2. Provide quarterly reporting of the types, status ****) Serves since 1 September 2023
and alerts, if any of the GDS transactions to the
Board of Directors and BRCC for notation.
COMMITTEE ACTIVITY REPORT 2023
In 2023, GDS Committee evaluated every Gifts, Donations, and Sponsorship (GDS) transactions in the Company.
GDS committee upholds and complies to the Corporate Values of ITS XL in their decision-making process for
the provision and receiving of GDS.
Furthermore, the GDS Committee also ensures the implementation of modifications and adjustments that
have been agreed upon that are needed for the processes, procedures, and other matters related to GDS.
212 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 213
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
ETHICS AND INTEGRITY
ETHICS AND INTEGRITY COMMITTEE
COMMITTEE
BASIS OF ESTABLISHMENT › Decide whether further action should be › Assess/review material transactions (based on threshold established in the Limits of Authority, policies
pursued against the employee for matters and procedures) where bribery and corruption risk are significant.
The Ethics and Integrity Committee was established involving monetary loss for example lodging a
by the Board of Directors on 30 June 2020 in order report with the authorities, restitution and or Corporate Communication Function
to assist in the Board oversight duties by preventing, filing a criminal/civil case. › Communicate related ethics & integrity communication to all employees.
detecting, and responding cases of fraud or › Communicate Ethic & Integrity Committee’s
misconduct behaviour. decision through Ethic & Integrity Coordinator
on consequence management to the employee COMMITTEE CHARTER
Terms of Reference of Ethics and Integrity Committee and the relevant BOD, Chief and Group Head.
of PT XL Axiata Tbk signed by President Director PT › Consider whether additional controls are The Committee has a charter or Terms of Reference signed and approved by the President Director & CEO of
XL Axiata Tbk. required to prevent further recurrences, if so, the Company on 30 June 2020.
to inform the relevant division/department for
follow up action to be taken.
PERMANENT MEMBERS › Share reported matters through GH Internal MEETING POLICY AND ATTENDANCE
Audit with the BAC, as well as consider other
Chairman: Dian Siswarini matters referred by the BAC to determine if The Committee’s Meeting Policy is regulated under the Charter, and meets at least four times a year or as
Members: they warrant investigations. needed.
› Feiruz Ikhwan
› Mochamad Hira Kurnia Ethic & Integrity Function The Committee meeting shall require a quorum of three members and may meet physically or hold its meeting
› Report to BRCC through the Group Head Risk & virtually. If the meeting does not meet the quorum, the committee’s permanent members shall be allowed to
Profiles of the Committee members are presented Compliance on a quarterly basis. nominate alternate to attend as committee member.
in the Board of Directors and Committee Members › Establish, oversee and make recommendations
profiles in the Corporate Governance Chapter of this through the Group Head Risk & Compliance to In 2023, the Ethics and Integrity Committee held 5 meetings. The details of the meetings are as follows:
Annual Report. the BRCC on the ABAC compliance & integrity
framework, including any subsequent revision(s). MOCHAMAD HIRA
DATE AGENDA DIAN SISWARINI BUDI PRAMANTIKA FEIRUZ IKHWAN
KURNIA
› Approve and oversee the implementation of
DUTIES AND RESPONSIBILITIES the ABAC program, including key policies and 11 January Internal Investigation Update N N Not yet serves N
procedures and any subsequent revision(s) as committee
4 May Internal Investigation Update N N N
Investigation Function › Monitor the ABAC compliance & integrity works member
› Deliberate on allegations of reported misconduct that are in progress.
9 August Internal Investigation Update N No longer N N
and determine next course of action. › Address compliance & integrity issues as they serves as
› Agree on the investigation terms of reference, arise. 26 October Internal Investigation Update N Absent N
committee
including the manner, in which investigation › Monitor and provide regular update through the member
should be undertaken and the appropriate Group Head Risk & Compliance to the BRCC and 22 November Internal Investigation Update N N N
parties conducting the investigation. all ABAC compliance & integrity related matters Attendance during 2023 100% 100% 67% 100%
› Review the investigation report and determine which includes:
whether the findings support consequence a. The number of cases reported
management to be meted out or further b. Numbers of investigation conducted
warrants an inquiry. c. Numbers of cases where actions are not ETHIC AND INTEGRITY COMMITTEE ACTIVITY REPORT IN 2023
› Establish a focal point for monitoring inquiry required
arising from defalcation and ensure compliance d. Next steps, and The Ethics and Integrity Committee has discussed the results of the investigation and imposed disciplinary
with the appropriate guidelines. e. Status of the implementations of action based on the company’s regulations and applicable code of ethics. During 2023, employees who
› Deliberate on the findings and recommendations recommendations and next steps suggested violated the code of ethics have received disciplinary action in accordance with the company’s regulations.
of the inquiry and determine the appropriate by the investigation team, compliance &
consequence management for the reported integrity department and internal audit
misconduct. department
214 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 215
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE SECRETARY
CORPORATE SECRETARY
The Corporate Secretary takes a strategic role in building and maintaining harmonious relationships between
the Company, capital market authorities, capital market participants, investors, and the general public. The Ranty Astari Rachman
Corporate Secretary is responsible for ensuring efficient communication between the Company and the Corporate Secretary
community, investors, and other stakeholders.
Age
LEGAL REFERENCES & PROFILE OF THE CORPORATE SECRETARY 40 Years old
As a public company and in compliance with Indonesia Stock Exchange Regulation No. 1-A and Financial Nationality
Services Authority Regulation No. 35/POJK.04/2014, the Company has established Corporate Secretary
Indonesian
function assigned by and reporting to the President Director, and appointed Ranty Astari Rachman as
Corporate Secretary based on the Board of Directors Meeting Minutes No. 13/20 dated 13 March 2020, and the Domicile
notification has been submitted to OJK and IDX.
Jakarta
Corporate Secretary Organization
Legal Basis of Appointment
Minutes of XL Axiata Board of Directors Meeting No. 13/20 dated 13 March 2020.
President Director Educational Background
& CEO Bachelor’s Degree in law from Universitas Padjajaran Bandung, graduated in 2005.
Professional Experience
› Vice Chairman for Assessment, Indonesian Corporate Secretary Association (2021-present)
› Head of Public Affairs & Government Relations di PT Trinusa Travelindo (Traveloka) (Maret 2019-Maret 2020)
› VP Corporate Secretary & CSR at PT Citilink Indonesia (2016-2019)
› VP Corporate Secretary of PT Garuda Indonesia (Persero) Tbk (2008-2015)
› Member GCG Committee di PT Garuda Indonesia Maintenance Facility (2013-2015)
Corporate
Secretary › Associate of Lexindo Consulting (2006-2008).
Awards
1. Top 10 Corporate Secretary Champion, MArch 2023, SWA Magazine
2. 50 Big Capitalization Public Listed Company dan Best Role of Stakeholders, Oktober 2023, The 14th IICD
Corporate Governance Awards
3. Winner of the Most Popular Social Media Leader 2023 in the National and Multinational Private Corporate
Secretary Category, October 2023, PR Indonesia Jamboree.
Corp. Secretary Corp. Secretary Corp. Secretary Corp. Secretary
Officer Officer Officer Officer
216 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 217
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE SECRETARY CORPORATE SECRETARY
DUTIES AND DUTIES AND
IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES IN 2023 IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES IN 2023
RESPONSIBILITIES RESPONSIBILITIES
Management a. At the end of 2023, the Corporate Secretary has determined the meeting schedule and Routine Electronic The Corporate Secretary is responsible for the implementation of the Company's General Meeting
Meetings of Agenda of the Board of Directors Meetings, Board of Commissioners Meetings, Joint Meetings General Meeting of Shareholders (GMS) in 2023, which was held once as the Annual GMS on 5 May 2023. This
the Board of of the Board of Commissioners and Board of Directors, and Meetings of Committee under the of Shareholders Annual GMS was conducted electronically (e-GMS) in accordance with the provisions of POJK No.
Directors, Board Board of Commissioners for the fiscal year 2024 based on the Articles of Association. (e-GMS) 15/POJK.04/2020 regarding the Plan and Organization of the General Meeting of Shareholders of
of Commissioners b. Organized weekly meetings of the Board of Directors and meetings of the Board of Directors Public Companies and POJK No. 16/POJK.04/2020 on the Implementation of the General Meeting
and Company and/or Board of Commissioners outside the regular meeting schedule. of Shareholders of Public Companies Electronically.
Committees c. Assisted in organizing regular meetings of each Committee under the Board of Commissioners.
d. Carried out administrative processes including updating data on the Dilligent Board application The Corporate Secretary is the first public company secretary in Indonesia to conduct an e-GMS,
used by each member of the Board of Commissioners, Board of Directors, and Committee in and also becomes a benchmark for other public companies. Moreover, this e-GMS innovation
terms of: has received recognition and awards from the capital market institution (IDX Channel) in the IDX
› Accessing meeting invitations and locations; Channel Anugerah Inovasi Indonesia for the Sustainability – Good Corporate Governance category
› Accessing and studying meeting materials; in 2020. In accordance with the regulations of the Financial Services Authority (OJK), the Company
› Evaluating the draft minutes of the meeting; is currently using the e-GMS and e-Voting platform provided by the Indonesian Central Securities
› Providing digital reviews; Depository (KSEI) to conduct the GMS electronically.
› Providing decisions circularly by affixing digital signatures;
› Voting digitally; The Corporate Secretary's responsibilities in implementing the e-GMS include, among others:
› Accessing Messenger facilities within the app. a. Fulfilling the obligation to report the Notification of the e-GMS plan to the Financial Services
e. Developed and documented the minutes of each of these meetings. Authority, including reporting on Announcements, Invitations, Summary of Minutes, and
f. Distributed fragments of important decisions taken during/in meetings to the business lines Minutes of the Meeting to the Financial Services Authority, the Indonesia Stock Exchange,
concerned for follow-up. and announcements to Shareholders and/or the Public in accordance with the provisions as
g. Organized a Strategy Retreat for the Board of Directors, Board of Commissioners, and Chief regulated in POJK No. 15/POJK.04/2020 regarding the Plan and Organization of the General
at XL Axiata Tower, Jakarta on October 4, 2023. This activity was carried out to discuss XL Meeting of Shareholders of Public Companies juncto POJK No. 16/POJK.04/Year 2020 on the
Axiata's strategy and business plan for the next one year. Implementation of the General Meeting of Shareholders of Public Companies Electronically;
b. Preparing an online registration system for e-GMS for Shareholders;
At the end of 2023, the following were carried ouk: c. Preparing and ensuring the availability of Meeting materials for the benefit of Shareholders,
a. 18 meetings of the Board of Commissioners including: through a QR Code at the time of electronic registration including making it available on the
› 6 meetings of the Board of Commissioners XL Axiata website page;
› 5 special meetings of the Board of Commissioners d. Preparing the availability of an electronic voting system (e-Voting), including the delivery of
› 4 joint meetings of the Board of Commissioners and Board of Directors e-Voting access to Shareholders who have registered online to attend the e-GMS;
› 3 times of joint special meetings of the Board of Commissioners and Board of Directors e. Preparing conference media for electronic meeting implementation;
b. 56 meetings of the Board of Directors, 6 of which were Special Meetings of the Board of f. Providing access to the Meeting to be attended electronically by Shareholders and/
Directors; or Shareholders' Proxies, members of the Board of Directors, members of the Board of
› 47 Board of Directors Meetings Commissioners, and Committee members under the Board of Commissioners;
› 9 Special Meetings of the Board of Directors g. Coordinating with the Notary and the Share Registrar as independent parties appointed to
c. 5 meetings of the Nomination and Remuneration Committee of which 2 time was a Special assist in the implementation of the Meeting based on prevailing regulations;
Meeting of the Nomination and Remuneration Committee; h. Coordinating with KSEI in the e-GMS implementation process through KSEI's eASY.KSEI
d. 6 Transformation Advisory Committee meetings; system;
e. 4 Decisions of the Board of Commissioners made via Circular; and i. Updating all Meeting materials from the Announcement to the Minutes of the Meeting on the
f. No Board of Directors Decisions are made via Circular. XL Axiata website page, to be accessible by the public and stakeholders;
j. Providing a record of the e-GMS implementation to the Notary and the Public.
218 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 219
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE SECRETARY CORPORATE SECRETARY
DUTIES AND DUTIES AND
IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES IN 2023 IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES IN 2023
RESPONSIBILITIES RESPONSIBILITIES
Conflict of Interest The Corporate Secretary assisted and monitored to the fullest extent in keeping an independence Company The implementation of the Single Registration System (SRS) through the ELO e-office platform
Management and of decision-making processes conducted by the Organs and Committees of XL Axiata. As regulated Document by the Corporate Secretary in 2023 demonstrates efforts in modernizing and automating the
Insider Trading in the Limited Liability Company Law and the Articles of Association of XL Axiata, parties with a Management Company's registration and documentation processes. Throughout 2023, approximately 2500
Prevention conflict of interest are required to provide a statement and cannot participate in discussions and/ company documents have been registered on the SRS.
or decision-making. The Corporate Secretary ensures that this process is properly conducted in all
matters submitted to the meetings of the Board of Directors, the Board of Commissioners, and/or The Corporate Secretary also has a Record Management System (RMS) team that plays a role not
the XL Axiata Committees. This process is also well documented in the minutes of meetings in case only in handling but also as a storage center for all crucial company documents.
a conflict-of-interest arises for any party
Through the RMS team, the Corporate Secretary participated in the process of updating the ISO 27001
To avoid transactions that have the potential for conflicts of interest, the Corporate Secretary Certification on Information Security Management Systems to the 2022 version. This effort includes
has also implemented OJK Regulation No. 42/POJK.04/2020 regarding Affiliate Transactions renovating the RMS team's workspace to comply with the said ISO standards, including adding document
and Conflict of Interest Transactions. Every year, the Corporate Secretary has also conducted storage facilities, updating archival equipment, and enhancing workspace access security.
socialization to internal units that frequently engage in transactions. As a form of support for
these units, the Company has also established a Standard Operating Procedure (SOP) for Affiliated Throughout 2023, the Corporate Secretary has formulated several procedures for managing
Transaction Capital Market Reports. For every affiliate transaction that requires a Fairness Opinion document archives. Each procedure is tailored to the Company's provisions and complies with
from the Public Appraisal Service Office and disclosure of Information Disclosure to the public, the the regulations of the Republic of Indonesia related to document archiving. This represents the
Board of Directors and the Board of Commissioners sign a Statement of No Conflict of Interest for Corporate Secretary's commitment to ensuring that the Company's document management not
the transaction which is subsequently documented by the Corporate Secretary. only meets the internal standards of the Company but also aligns with national regulations, thereby
ensuring compliance with the rules applicable in the Republic of Indonesia.
In addition, to prevent conflicts of interest, the Corporate Secretary periodically documents the
Statement of Share Ownership and the Statement of Dual Positions made by each member of Implementation The Corporate Secretary has carried out reporting obligations and information disclosure through the
the Board of Directors and the Board of Commissioners of the Company on 30 June 2023, and of Reporting XL Axiata website and the Indonesia Stock Exchange website (through the IDXNet e-Reporting system).
31 December 2023. Throughout 2023, the Corporate Secretary also prevented Insider Trading Obligations
through internal announcements regarding the implementation of a Blackout period that prohibits Related to the Throughout 2023, the Corporate Secretary carried out reporting and information disclosure obligations to
Company employees from buying and selling Company shares during certain periods before a public Capital Market regulators and the public, including the following:
announcement of the Company's corporate actions that could influence shareholder decisions, › Regular Monthly Report related to the Monthly Report of Shareholder Registration;
where these corporate actions are related to changes in business activities undertaken by XL Axiata. › Regular Monthly Reports on Debt in the Form of Foreign Currencies;
› Annual Regular Report on the Submission of the Company’s Annual Financial Statements;
Compliance with The Corporate Secretary ensures that there are no violations of the prevailing Capital Market › Quarterly Regular Report related to the Submission of the Company’s Interim Financial Statements;
Capital Market Regulations in Indonesia. Throughout 2023, there were no fines or administrative sanctions for › Annual Regular Report related to the Submission of the Company’s Integrated Annual Report;
Regulations violations or non-compliance with regulations related to the Capital Market. › Annual Regular Report on Submission of Sustainability Report;
› Annual Regular Report on Public Expose;
Corporate Action In 2023, the Corporate Secretary has taken an active role in assisting the implementation of XL › Annual Regular Report related to Evaluation of Public Accountants and Public Accounting Firms
Axiata’s Corporate Actions including ensuring compliance with applicable Capital Market regulations, for fiscal year 2022;
among others: › Annual Regular Report related to the Appointment/Change of Public Accounting Firm and/or
› Amendment to the Articles of Association regarding the corporate action of capital increase with Public Accounting Firm for fiscal year 2023;
pre-emptive rights which completed by the end of 2022; › Annual Regular Report related to the Annual Rating Report;
› Conducted the electronic Annual General Meeting of Shareholders. › Semi Annual Regular Report related to the Realization the Use of Fund from Public Offering; and
› Dividend distribution for the 2022 fiscal year; › Other incidental reports related to information disclosure include the following:
› Sale and Leaseback Transactions of Telecommunication Towers to PT Dayamitra Telekomunikasi - Internal Audit Change Report;
Tbk; - The Readiness of the Funds Prior to the Maturity of Shelf Bonds and/or Shelf Sukuk;
› Affiliated party transaction related to synergy with PT Link Net Tbk; - Coupon Payment and/or Ijarah Fee Report;
› Preparation of the Change on the Company’s Business Activity plan which approved in the - Payment on the Principal and Interest of Shelf Bonds and Shelf Sukuk Ijarah;
January 2024 EGMS; - Any Changes in Ownership of Shares of Public Companies (Ownership by Specific Shareholders);
› The establishment of the Board of Investment Committee to assist the Board of Commissioners - Plan for Submission of Audited Interim Financial Reports and Limited Review;
in performing supervisory functions and providing advice related to the Company’s investment - Resignation of Member of the Company’s Board of Directors; and
activities and initiatives; and - Resignation of Member of the Company’s Board of Commissioners.
› Affiliated party transaction with PT Axiata Digital Lab Indonesia related to the signing of
a Statement of Work for the Provision of Professional Services related to BSS & Support The Corporate Secretary regularly communicates with capital market regulators, including the Financial
System Development, for the Provision of Professional Services related to Digital Touch Point Services Authority and the Indonesia Stock Exchange, related to corporate actions, governance, and
Development, and for the Provision of Professional Services related to Middleware Development. matters related to capital market regulations.
220 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 221
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE SECRETARY CORPORATE SECRETARY
DUTIES AND
CORPORATE SECRETARY TRAINING IN 2023
IMPLEMENTATION OF DUTIES AND RESPONSIBILITIES IN 2023
RESPONSIBILITIES
Reporting Related The Corporate Secretary is also responsible for reporting to the Investment Coordinating Board. XL NO. DATE TRAINING ORGANIZER LOCATION
to Foreign Axiata as one of the foreign investment companies (PMA) is subject to and fulfills obligations to
Investment regulations related to PMA companies. Among them are conducting periodic electronic reporting 1 26 January Webinar Indonesia Economic Outlook ICSA, Online
related to investment activity reports (LKPM) as stipulated in Article 15 of Law No. 25 of 2007 2023 Opportunities Challenges.
concerning Capital Investment submitted for the periods of Quarter I, Quarter II, Quarter III, and 2 22 February Socialization of General Guidelines for Komite Nasional Kebijakan Online
Quarter IV of 2023. This delivery was also carried out in a timely manner with technical delivery in 2023 Indonesian Corporate Government (PUGKI) Governansi (KNKG)
accordance with applicable regulations, namely BKPM Regulation No. 7 of 2018.
Implementation of The Corporate Secretary also ensures that XL Axiata consistently applies the principles of Good
3 8 March Ring the Bell for Gender Equality: Boosting PT. Bursa Efek Indonesia, UN Main Hall
Good Corporate Corporate Governance (GCG). With the introduction of the new ASEAN Corporate Governance 2023 Gender Equality through Innovation and Women Indonesia, Indonesia Indonesia Stock
Governance Scorecard parameters in 2023, the Corporate Secretary has once again conducted evaluations and Technology Globacl Compact Network, Exchange
improvements on the implementation of Corporate Governance practices to meet these standards. International Finance Building
Corporation, Indonesia
Business Coalition for Women
In 2023, the Corporate Secretary has updated procedures related to the implementation of the Empowerment
Single Registration System, reviewed and provided input on the Terms of Reference for the Risk
and Compliance Committee, the Selection and Managing Traditional Dealer/Sales Operation Partner 4 10 March Webinar Vital Skills Global Masterclass Series: PT Inti Integritas Sejati Online
Policy, the Terms of Reference for the Cyber Security and Privacy Steering Committee, the Record
2023 Environmental, Social, and Governance
Management System Policy, and other internal company policies.
5 14 March Webinar Capacity Building Workshop – Series UN Women Online
To support the implementation of Good Corporate Governance, the Corporate Secretary also 2023 2 : Introduction Gender Equality and Women’s
drafted Power of Attorney documents, both regular and incidental, for delegating authority from Empowerment Principles: How to Implement in
the Board of Directors to internal and external parties of the Company in accordance with provisions Business Sectors.
set out in the Articles of Association, the Limit of Authority (LOA), internal company policies, and
other relevant laws and regulations for the Company. 6 6 April 2023 Webinar on the Utilization and Management Hukumonline Online
of Intellectual Property Rights in Legal and
Business Aspects in the Current Era
Training and/ The Corporate Secretary ensures the implementation of the competency development program of
or Competency the Board of Directors and Commissioners in 2023 as follows: 7 11 April 2023 Legal Discussiononline and ICSA 2023: P2SK Hukumonline dan ICSA JS Luwansa Hotel
Improvement › Sharing Session presented by Dr. Muhammad Chatib Basri with the topic Indonesian Economic Law as Strengthening the Financial Sector for
of the Board and Political Update on 10 May 2023. Consumers and the Financial Industry
of Directors › Sharing Session presented by Wolfgang Block and Michael Meyer from BCG with the topic
and Board of Indonesia Telecom Industry Update on 10 May 2023. 8 17 May 2023 Talkshow Strategic Communication during ICSA IDX Main Hall,
Commissioners › Sharing Session by Ericsson presented by Nitin Bansal and Dr. Ir. Ng Thiaw Seng on the topic Crisis Indonesia Stock
of 5G India Journey on 22 November 2023 Exchange
Building
Others › Actively joined and participated in the Corporate Secretary association as Vice Chairman for 9 26 May Webinar Consumer Protection in Singapore – Rajah & Tann Online
Assessment since 2021. 2023 Past Enforcement and Future Priorities
› Conducted an in-house Board Effectiveness Assessment for 2023 on the Board of Directors
and the Board of Commissioners based on the mandate given by the Nominating and 10 5 June 2023 Speaker in Continuing Professional Education Indonesian Notary Plaza Bapindo
Remuneration Committee. for Notaries Operating in the Capital Market – Association and Financial and Mandiri Tower
› Ensured the implementation and provided input on the management of Good Corporate Problems in the Implementation of GMS and Management Institutions
Governance in Subsidiaries (Subsidiary Governance Management), including the conduct of e-GMS of Public Companies
Board of Commissioners and Committee meetings.
› Assisted in the implementation of the Board Assessment for 2022 conducted by Deloitte in
11 8 June 2023 Empowering Woman Book Launch PT Bursa Efek Indonesia IDX Main Hall
early 2023.
› Conducted the 2023 Board Strategy Retreat which was held at XL Axiata Tower on 4 October
2023.
› Ensured legal compliance with the establishment of an effective Investment Committee
established by the Board of Commissioners on 9 February 2024.
222 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 223
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
INVESTOR RELATIONS
CORPORATE SECRETARY
NO. DATE TRAINING ORGANIZER LOCATION
Maya Savitri
12 27-28 June ASEAN Capital Markets Forum and ASEAN Capital Markets Singapore Investor Relations
2023 International Sustainability Standards Board Forum & International
Sustainability Standards
Board
Age
13 7 July 2023 2023 Anti-Bribery and Anti-Corruption Axiata Online 36 years old
(ABAC) Refresher Course
Nationality
14 7 July 2023 2023 Speaking Up/Whistleblowing Course Axiata Online Indonesian
15 7 Juy 2023 2023 Cybersecurity Refresher Course Axiata, Online Domicile
Jakarta, Indonesia
16 20 July Dissemination of KPPU Regulation Number 3 Business Competition Online
2023 of 2023 concerning Assessment of Mergers, Supervisory Commission Legal Basis of Appointment
Mergers, or Takeovers of Shares and/or Assets Serves as Investor Relations since joining PT XL Axiata as of 2 June 2023
that May Result in Monopoly Practices and/or
Terms of Office
Unfair Business Competition
2 June 2023 - present
17 3 August Dissemination of Changes to Regulation PT. Bursa Efek Indonesia Online
Educational Background
2023 Number I-V concerning Special Provisions for Indonesia Stock Exchange
Bachelor in Accounting, Universitas Airlangga, Surabaya, Indonesia
the Listing of Shares and Equity Securities
Other Than Shares Issued by Companies Listed Professional Experience
on the Acceleration Board › Investor Relations Department Head, PT Bank Tabungan Negara, 2021 – 2023
› Investor Communication Manager, PT Bank Tabungan Negara, 2020 – 2021
18 16 October Speaker at the Webinar "The Corporate ICSA Online
› Investor Communication Assistant Manager, PT Bank Tabungan Negara,
2023 Governance Officer's Role in Driving Digital
2014 – 2020
Resilience
19 23 October Dissemination of Financial Services Authority Financial Services Authority Online
2023 Regulation No. 13/POJK.04/2023 concerning
Policies in Maintaining Capital Market
Performance and Stability in Significantly XL Axiata Investor Relations aims to ensure the conferences, face-to-face meetings, group
Fluctuating Market Conditions creation of sustainable shareholder value, supported meetings, and conference calls. Meanwhile, indirect
by the application of Good Corporate Governance approaches are conducted through Annual Reports,
20 10 Workshop Global Merger Control and Antitrust Allen & Overy Jakarta
November Enforcement principles, including transparency. Throughout 2023, Financial Statements releases, press releases, the
2023 XL Axiata's Investor Relations actively engaged website, and specific social media channels. In
with the investment community through strategic communicating with the capital market community,
21 28 Moderator during the Corporate Crime ICSA Jakarta
and planned communication programs based on Investor Relations ensures the transparencies
November Workshop in Law No. 1 of 2023 concerning the
important themes, to provide accurate and timely of information with fair and equal treatment, in
2023 Criminal Code
information to ensure informed investment decisions. accordance with prevailing regulations.
This also includes updates by the Board of Directors
on the Company's strategy, business and financial As the main liaison between the Company
performance, and company guidance. and the capital market community, XL Axiata
Investor Relations manages open and two way
Direct engagement with the investment community communications. As such, XL Axiata Investor
includes Annual General Meetings of Shareholders, Relations welcomes any inquiries or feedback
Public Exposures, investor conferences, press through the following communication channels.
224 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 225
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
INVESTOR RELATIONS
INTERNAL AUDIT
INVESTOR RELATIONS CONTACT
The Company has an Internal Audit Department as required by OJK Regulation No. 56/POJK.04/ 2015 on the
(62 21) 576 188 ext. 58213 (62 21) 579 59025 ir@xl.co.id
Establishment and Guidelines for the Internal Audit Charter (POJK 56/POJK.04/2015).
INTERNAL AUDIT GROUP HEAD
INVESTOR RELATIONS ACTIVITIES IN 2023 According to the Internal Audit Charter, Internal Audit Group Head is appointed and dismissed by the President
Director with approval from the Board of Commissioners. In the event where the current Internal Audit Group
Head is negligent and unable to fulfil his/her responsibilities stipulated in the Internal Audit Charter, the President
DATE ACTIVITIES VENUE Director may propose replacing him/her with approval from the Board of Commissioners.
03-Feb-23 Mandiri Investment Forum 2023 Jakarta
20-Feb-23 4Q 2022 Results Release and Earnings Conference Call Virtual
21-Mar-23 Fixed Income Investor Roadshow Hong Kong
Mohammad Abdul Kader Bhuyan
22-Mar-23 26th Credit Suisse Asian Investment Conference Hong Kong Group Head Internal Audit
06-Apr-23 UBS Corporate Day 2023 Jakarta
05-May-23 Annual General Meeting of Shareholders 2023 Jakarta Age
41 years old
05-May-23 Public Expose 2023 Virtual
Nationality
10-May-23 1Q 2023 Results Release and Earnings Conference Call Virtual Bangladeshi
Domicile
28-Jul-23 2Q 2023 Results Release and Earnings Conference Call Virtual
Jakarta, Indonesia
07-Aug-23 UBS Corporate Day 2023 Jakarta Legal Basis of Appointment
Mr. Mohammad Abdul Kader Bhuyan was appointed as Group Head of
06-Nov-23 Verdhana-Nomura Indonesia Conference 2023 Jakarta
Internal Audit (GHIA) by the President Director, XL Axiata, effective as of
22-Nov-23 3Q 2023 Results Release and Earnings Conference Call Virtual 1st of July 2023, with the approval of the Board of Commissioners.
06-Dec-23 Axiata Analyst and Investor Day 2023 Kuala Lumpur
Education Background and Certifications
› Bachelor of Electrical & Electronic Engineering, Islamic University of Technology (IUT) – An Engineering
University of OIC (Organization of Islamic Cooperation) in Bangladesh, 2002.
› Certified Project Management Professional (PMP), PMI – USA, 2012.
Professional Experience
› Group Head Internal Audit, PT XL Axiata Tbk, Indonesia, 2023 – present
› Head of Internal Audit Division, Robi Axiata Limited, Bangladesh, 2015 – 2023.
› General Manager, Enterprise Program Management Office (EPMO), Robi Axiata Limited, Bangladesh, 2011 – 2015.
› Manager, Technology Division, Robi Axiata Limited, Bangladesj, 2006 – 2011
› Senior System Engineer, Ranks Telecom Ltd, Bangladesh, 2005 – 2006.
› Unit Manager, Grameen Teleecom, Grameen Bank, Bangladesh, 2003 – 2004.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
INTERNAL AUDIT INTERNAL AUDIT
TRAINING OR COMPETENCIES DEVELOPMENT IN 2023 DUTIES AND RESPONSIBILITIES INTERNAL AUDIT CHARTER
OF INTERNAL AUDIT
TRAINING/WORKSHOP VENUE DATE OF IMPLEMENTATION The Company has an Internal Audit Charter as a
The duties and responsibilities of the Internal Audit guideline for Internal Audit with the latest revision
Certified Internal Auditor – Training Course Dhaka, Bangladesh Q1’2023
refer to OJK regulations as well as the Institute of in accordance with OJK Regulation No. 56/
Axiata Internal Audit Forum Kuala Lumpur, Malaysia July 2023 | September 2023
Internal Auditors standard and code of ethics. The POJK.04/2015 established by the President Director
Training Bahasa Indonesia XL Axiata Training Center 7 August 2023 Internal Audit functions and responsibilities shall be with the approval of the Board of Commissioners on
Training on Effective Investigation Techniques Kuala Lumpur, Malaysia November 2023 carried out and implemented with the principles of 26 April 202.
independence.
INTERNAL AUDIT IN THE COMPANY’S STRUCTURE The following are the Internal Audit Division’s main ACTIVITIES AND MEETINGS OF
duties and responsibilities: INTERNAL AUDIT IN 2023
As per the Internal Audit Charter, the Internal Audit Division reports to the President Director and to the Audit › Develop an annual audit plan with a risk-based
Committee. As of 31 December 2023, Internal Audit Division of XL Axiata has a total of 11 (eleven) who held approach in the fields of finance, accounting, Throughout 2023, the Internal Audit Division
the following position: operations, human resources, marketing, completed 15 audit programs by 31 December 2023,
information technology, and other activities. including those related to information technology
POSITION TOTAL PERSONNEL › Implement an annual audit plan as approved, systems, marketing, sales and distribution systems,
including any special assignments at the request asset management, supply chain management, and
Group Head Internal Audit 1
of the President Director and the Board of compliance with regulations.
Internal Auditor 6
Commissioners.
Investigator 3 › Conduct examination and assessment on the The Internal Audit Division has undertaken a crucial
Data Analyst 1 efficiency and effectivity in the field of finance, role in executing accountability, transparency, and
accounting, operational, human resources, continuous improvement within the organization.
marketing, information technology and other Through rigorous audit activities, continuous
activities. data analytics (CA), Artificial Intelligence (AI), and
CERTIFICATIONS › Provide recommendations for improvements consulting services, we have contributed to enhancing
and objective information about the activities risk management practices, strengthening internal
As of 31 December 2023, the Internal Audit Division is supported by auditors that have attained the following examined at all levels of management. controls, and promoting operational excellence.
certifications: › Provide and submit audit reports to the We remain committed to upholding the highest
President Director, Board of Commissioners standards of professional integrity and delivering
CERTIFICATIONS TOTAL PERSONNEL through the Audit Committee, and other related value to stakeholders.
parties.
Certified Information System Auditor (CISA) 2
› Monitor and evaluate the adequacy of follow-up Internal Audit Division also continuously ensure
Certified Fraud Examiner (CFE) 2
actions implemented by the auditee, and report conformance to the International Professional
Certified Information Security Manager (CISM) 1 its completion status to President Director and Practices Framework (“IPPF”) as the best practice
Certified Governance of Enterprise IT (CGEIT) 1 the Board of Commissioners through the Audit guideline, by conducting periodic internal quality
ISACA Cybersecurity Fundamentals 1 Committee. assurance review as well as external quality review
› Maintain the professionalism of Internal Auditors by IIA Malaysia.
Computer Hacking Forensic Investigator (CHFI) 1
through continuous education programs such
Certified Project Management Professional 1
as certification programs to complement the
knowledge and skills of internal auditors that are
relevant with the Company’s complexity and
business.
› Work closely with the Audit Committee and
serves as secretariat to the Audit Committee.
› Develop a program to evaluate the quality of
internal audit activities.
› Conduct special review, evaluation, and/or
investigation if needed.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
INTERNAL CONTROL RISK MANAGEMENT
Internal Control System in the Company aims to OVERVIEW ON THE As part of XL Axiata's commitment to implementing 1. 1st Line – PRisk owners at business units are
support performance objectives, enhance value for EFFECTIVENESS OF THE governance effectively, XL Axiata has established responsible to inculcate risk-based thinking
stakeholders, ensure the effectiveness and efficiency a Risk & Compliance Division which is responsible culture in the day-to-day operations and
of operations, and the reliability of financial
COMPANY’S INTERNAL CONTROL to the President Director. Risk monitoring and implement effective operational excellence
reporting, the adequacy of operational and financial management is conducted based on the Enterprise by embedding inherent risks into its quality
controls, as well as compliance with relevant laws The Company conducts a self-assessment on a yearly Risk Management Policy & Framework adopted management system and manage the emerging
and regulations. basis, to assess the effectiveness of its internal control. from ISO 31000:2018 which is approved by the risks that could hinder from achieving business
The assessment results will be the consideration Board of Directors and signed by the President objectives.
towards final assessment in the Annual Statement of Director. This policy guides XL Axiata personnel to
CONFORMITY TO Internal Control, signed by the President Director. effectively conduct risk management processes and 2. 2nd Line - Risk and Compliance Management
INTERNATIONAL STANDARDS activities in accordance with applicable regulations and other second line compliance functions
The assessment is based on various aspects, namely: and ensures an equal perception and understanding (Regulatory, Corporate Secretary, Health and
The Company has adopted the concept of three 1. Control Environmen: of risk management as well as the realization of a Safety, Cyber Security) that are responsible
lines of defense in line with the framework of the › Integrity and Ethical Values sustainable risk management process to ensure to establish, and implement the ERM Policy
Committee of the Sponsoring Organizations of the › Strategic Value of the Board of Directors coordinated and integrated risk management and to & Framework, facilitate the risk management
Treadway Commission (“COSO”) - Internal Control › Management’s Philosophy and Leadership Style ensure strategic initiatives are in line with company process and escalate significant risks to BOD.
› Organisational Structure
Framework. strategy.
› Commitment to Competencies
3. 3rd Line - The internal audit is responsible
› Authority and Responsibility
The implementations of Internal Control in the › Human Resources to perform independent assurance over the
Company according to COSO are as follows: 2. Risk Assessment and Risk Management: RISK MANAGEMENT SYSTEM effectiveness of control.
1. Control Environment › Risk Management Organization Structure
The Board of Commissioners and the Board of › Business Risk Management The Risk Management System is designed to The Board of Directors is committed and responsible
Directors have established a set of standards, › Importance of Business Objective support the Company in realizing sound business for the effectiveness of implementation and
procedures, and structures that provide the › Identification and Analysis of Business Risk management and achieving sustainable growth, maintenance of risk management.
basis for carrying out internal control across the › Change Management thus optimizing shareholder value. The Company
Company. 3. Control Activity: adopts a comprehensive approach to managing risks To help carry out its functions, the Board of Directors
2. Risk Assessment › Policies and Procedures comprehensively, by improving the performance established a Risk and Business Continuity Committee
› Applicable of technology information system
The Company continues to assess the risks that in managing uncertainty, minimizing threats, and responsible to ensure adoption of sound and effective
› Segregation of Duties and Responsibilities
have an impact on the Company’s business maximizing opportunities without neglecting the policies, procedures and practices for all of the
› Monitoring Objectives
activities. The results of the assessment are 4. Information and Communication:
principles of Risk Management that at least include Company’s Risk and Compliance functions.
documented in the key risk register and reviewed › Quality and Timely Information the following:
regularly. › Information Control The roles and responsibilities of the Committee can
3. Control Activitie › Reliability of Information Technology and 1. Active supervision by the Board of be found in the Other Supporting Committees Under
The Company implements and carries out Network Systems Commissioners and the Board of Directors; the Board in this chapter.
control activities to mitigate risks and achieve › Management and Communication 2. Adequacy of policies, procedures, and limits
its business objectives, where the duties and › Communication with the Board of Directors set; The Board of Commissioners oversee the design,
responsibilities of each officer and official are › Communication with External Parties 3. Adequacy of Risk Identification, Measurement, implementation, and monitoring of the risk
regulated in related policies and procedures. › Continuous Monitoring Monitoring, and Control Process, as well as the management. The Board of Commissioners has also
5. Monitoring:
4. Information and Communication Risk Management Information System; set up a Board of Risk and Compliance Committee
› Independent Evaluation
The Company has a means/media of 4. A comprehensive Internal Control System. to supervise the implementation of the risk
› Reporting Deficiencies
communication and information exchange › Performance Measurements management process and evaluate the effectiveness
available to support all parties in the Company › Other Matter The Company’s Enterprise Risk Management of risk and compliance management in the Company.
in carrying out their roles. Oversight Structure follows the Three Lines model
5. Monitoring Activities The Board of Directors and the Board of that aims to manage and mitigate risks through the The roles and responsibilities of the Committee can
The Board of Directors, Senior Management Commissioners assess that the Company’s internal effective organisation of risk, control, and oversight be found in the Other Committee Under the Board
and Internal Audit continuously monitor the control system has been adequately implemented. responsibilities. This in turn will limit the possibility of of Commissioners section in this chapter.
effectiveness of overall implementation of Based on the evaluation results of the effectiveness “gaps” while avoiding duplication of coverage.
internal control. The monitoring of the Company’s of the internal control system throughout 2023,
key risks has been prioritized and has become no material weaknesses were found in the internal
part of operational activities, including periodic control system in each business unit as all findings in
evaluations. the company’s operations have been appropriately
addressed, and recommendations for improvements
have been well implemented.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
RISK MANAGEMENT RISK MANAGEMENT
RISK MANAGEMENT PROCESS The Risk and Compliance Division facilitates RISK CATEGORY SCOPE
RCSA through a meeting and discussion with the › Risk that relates to any political changes or instability in a country such as a change in government,
The Company’s risk management process is Management to provide input and feedback on Geopolitical Risk legislative bodies, other foreign policymakers or military control that may impact XL Axiata investment
facilitated by the Risk and Compliance Division. identified risks, as well as monitor the status of risk returns or impacting our operating company operations.
This division is responsible for the development of management and report on the result of applying its › Risk that is associated with upholding and adopting good governance practices in ensuring operational
risk management framework and methodologies, mitigation plans. Governance Risk
excellence which may include non-compliance to policies, procedures, processes and internal control.
as well as facilitating the implementation of risk
› Risk to information technology or data or applications that negatively impact business operations. This
management systems. The Company also established Business Continuity Technology Risk
could cover a range of scenarios, including software failures or a power outage.
Management (BCM) which was coordinated by
The Company applies Risk and Control Self- Risk and Compliance Division to maintain the › Risk that is associated with any exposure or loss related to technology infrastructure resulting from a
Cyber Risk
cyber-attack or data breach that will cause a massive negative business impact on XL Axiata.
Assessment (RCSA) technique for its Risk Company's long-term business continuity which
Management, where the risk owners (business focuses on the safety of workers and their families, › Risk that XL Axiata faces in relation to human resource or people management which may include
owners) self-identify the risks that may have an continuity of service for customers, and to minimize People Risk vacancy in a specialized/skilled position, readiness and lack of competency, and also safety and health
of employees.
impact on their business objectives and provide a the Company's losses. BCM also includes Business
mitigation plan to prevent or control the risk. Impact Analysis (BIA), Disaster Recovery Plan (DRP),
and Business Continuity Plan (BCP). MAIN RISK MITIGATION
Risk assessments are carried out at divisional levels Regulatory Risk
in the organization. The Company has adopted ISO Apart from business risks, compliance risks are also a › The Company business activities rely on the › XL Axiata continues to follow and observe the changes in laws,
31000:2018 approach to risk assessments: concern for Management. Management ensures that licensing by the government/regulators. In regulations and prevailing regional policies and building good rapport
a) Risk Identification all the Company is run in accordance with applicable compliance with the regulatory requirements with the stakeholders, regulators and telecommunication association.
b) Risk Analysis regulations. Risk and Compliance Division carries may lead to in penalty, sanction or revocation › Actively providing advice and insight on the regulatory changes to the
of business license. Government by taking into account its impact on the telecommunication
c) Risk Evaluation out this activity by conducting a series of tests on › The government/regulators can amend any industry progress, including benefits for the customers and operators.
d) Risk Treatment the relevant units regarding the implementation of policies related to telecommunication, IT and › Incorporating the laws and regulations into the Company’s policy and
e) Communication & Consultation applicable regulations that could have an impact on relevant industries. These measures can directly procedures to maintain the Company’s legitimate business rights and
f) Monitoring & Review the Company. influence business strategy and model as well supporting the Company to achieve sound long-term development.
g) Recording & Reporting as increase business complexity and cost of XL Axiata has also modified and implemented system augmentation
doing business. to meet new or changes in regulation.
› The Indonesian Government has introduced › Solidifying the compliance assurance function in the first line and
number of laws and regulations related to the second line, such as reviewing the Regulatory Compliance policy and
Risk Category cellular telecommunication industry, including integrating the compliance assurance monitoring function into Risk &
new capital OJK & BEI market regulation and Compliance Division to continually evaluate the compliance level with
RISK CATEGORY SCOPE
PDP regulation. each relevant regulation.
› Primary risks that is strategic in nature and often involve a major factor in determining the XL Axiata’s › The Company may also face the situation
worth; whereby existing regulations are not yet able to
Strategic & › Risks that could significantly impact the XL Axiata’s strategic activities, decision making and its create equal playing field for all market players
Investment Risk achievement of business objectives; and
› Risks that should be predicted or monitored by Senior Leadership Team (SLT) as part of strategic Competition Risk
planning and review mechanism. › Rapid changes in communication technology › To respond to current market competition, XL Axiata has taken
› Financial risk are risks associated with financial management of XL Axiata; decreased the challenges in participating some integrated measures in all the Company’s businesses. Through
Financial Risk › Risk that comprises the stability of the company’s financial position given its exposure to a variety of into and augmenting the competition in strategic initiatives, XL Axiata has initiated the transformation program
treasury risks and other financial risks including liquidity risk, currency risk, interest rate risk and credit risk. the telecommunication industry. Increased toward its business management by focusing on the customers’ needs
competition also encouraged by the evolution and lifestyles. In addition to mobile services through conversations
› Risks associated with XL Axiata’s core business operations i.e. Telecommunication, Digital Businesses in customers demand and disruptive innovation. (“voice”), short messages (“SMS”) and data, XL also relies on enterprise
Operation Risk and Infrastructure; › The Company is facing increased competition and home & convergence services and continue to develop innovative
› Risks that may impact the expected business objectives, earnings, and returns on investment; and from current telecommunication operators or new products at competitive prices in order to maintain operational
› Risk resulting from inadequate or failed internal processes, people, and systems, or from external events new technology providers, such as convergence advantages and increase profitability.
that may disrupt the day-to-day business operations, including Business Continuity Risk service provider, with their cost, agile and
innovative business model.
Legal &
› Risk related to compliance with applicable laws and regulations. › On the other hand, the traditional business
› Risk that may expose XL Axiata to legal penalties, failure to act in accordance with policies or best services are gradually saturated and the new
Regulatory Risk
practices and integrity requirement technology players are competing intensively in
› Risk associated with the market and country that XL Axiata is operating which may also include risk the market.
Market Risk
related to industry and competition.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
RISK MANAGEMENT RISK MANAGEMENT
MAIN RISK MITIGATION RISK RATING MATRIX
Information Technology & Cyber Security Risk
› Cyber security and data privacy considered as › XL Axiata is committed to ensure the privacy, integrity and availability The Company has developed a Risk Rating Matrix based on its Risk Assessment Guideline, to evaluate the
the main risk for consumer and industry. Cyber- customers’ data. In optimizing information security management, XL significance or scale of the risk and the effectiveness of existing control, if there is any.
attacks represent growing threat to all industry, Axiata established special departments who are responsible to manage
including the telecommunication industry. system security and data privacy.
There is constant threat of significant and › XL Axiata has invested technology to support information security The risk rating matrix provides a foundation in the assessment of identified risks so that management at every
sophisticated cyber-attacks including phishing, enacted and has received ISO- 27001 on the customer data protection level can ensure the risk management actions and resources are appropriately directed across business and
ransomware, malware and social engineering. from the relevant agency. functions.
Cyber-attack or internal event could result in › Initiatives to enhance infrastructure capability are taken including
inability to deliver services to our customers network modernization, network capacity increment, as well as new
and/ or failing to protect their data. network development including efficient expenditures to minimise
The Company has also determined its level of risk appetite and risk tolerance based on this Risk Rating Matrix.
› Moreover, increasing usage of data, smartphone impact from idle technology. The risk appetite and risk tolerance is monitored by the management and formally reviewed as part of the
and product require a lot of bandwidth, the › To ensure quality process and secure the program results, XL Axiata Company’s strategy and planning process. This also takes into consideration whether the risk appetite remains
continuous performance improvement in the applies program methodology and standardized project in its appropriate in delivering its goals from both internal and external as well as constraints. Any risk that exceeds the
network infrastructure and IT. information technology transformation. XL Axiata has also conducted appetite level must have a response plan. It is then communicated to the respective Director/Chief and reported
› The Company is currently conducting IT proper examination on existing system developments, in particular the
transformation to enhance customer service customer-facing-solutions prior to system go-live.
in the RBCC meeting to get an approval on the mitigation plan.
and to address business need challenges. › The management framework has been applied to ensure service
Failure in implementation of the new system, continuity to the customers, including operational continuity in the event
may impact on the Companies, revenues, costs of service disruption because of natural disasters such as flood and OVERVIEW ON THE EFFECTIVENESS OF THE COMPANY’S RISK
and reputation. earthquakes or other similar events. The process consists of Business
› The Company’s services rely on the quality, Impact Analysis, formulation of Disaster Recovery Plan and Business MANAGEMENT
stability, tenacity and reliability of its network Sustainability Plan. With the same objectives, XL Axiata also cooperates
and systems. The Company may face disruption with business partners through business operations agreement and
or loss risk in its infrastructure network due to service guarantee. To minimize financial risk, XL Axiata has insured its
Adequate Risk
natural disasters or other major forces fixed assets to prevent, financial loss that may disrupt its business and The Risk and Compliance division assessed the implementation and operationalisation of the risk management
other relevant risks. system involving all internal stakeholders, including business units and supporting functions within the company.
› Employees receive regular online cybersecurity training and ongoing
awareness is promoted through periodic phishing socialization and
Evaluation result consulted with RBCC and BRCC. Based on the evaluation, Management believes that the
other initiatives to keep employees abreast of new and emerging threat. company’s risk management system was adequate in achieving the company’s business objectives while
ESG Risk complying with relevant laws. Management will continue in identifying, analysing, evaluating, monitoring and
› In carrying out its operations, The Company › The Company has developed ESG programs 2023-2025 managing the significant risks faced by the Companies.
may impact the environment by using natural › The Company has carried out a Materiality Assessment to obtain a
resources, carbon emissions, and others. program mapping based on a priority scale.
Moreover, there are risks to the social impact ›
of company operations, such as labor policies,
The Company already has Sustainability Governance, including
establishing a sustainability steering committee, and Sustainability
STATEMENT FROM THE BOARD OF DIRECTORS ON THE
human rights, customer privacy, and social indicators have also been determined. ADEQUACY OF THE COMPANY’S RISK MANAGEMENT
sustainability. `Furthermore, The Company
also exposes risks related to compliance with
regulations and good corporate governance 1. The Board of Directors confirms that the Company’s’ risk management are adequate and have been operating
practices, including corruption, transparency, effectively, in all material aspects, for the financial year ended 31 December 2023 and up to the date of this
and fair business practices.
Declaration and that the systems are adequate and effective in achieving the Company’s business objectives
Market Risk
while complying with relevant laws.
› The Company’s activities might be exposed to › The Company shifted the floating-rate debt to fixed-rate debt by
2. The Board of Directors confirms that there is a continuous process in identifying, analysing, evaluating,
variety of market risk, such as foreign exchange issuing bond and sukuk.
rate risk and interest rate risk. In 2023, fluctuations › The Company completed the right issues in 2022 to be used for debt monitoring and managing the significant risks faced by the Company, and that during the year under review
in foreign exchange rates have not really affected repayment to strengthen the capital structure, improved leverage the weaknesses noted in risk management had been appropriately remediated and managed.
the Company’s business yield since most the ratio to maintain AAA rating, rebalance fixed-floating debt exposure 3. The Board also affirms their responsibilities and commitments to continuously maintain and review the
Company’s debts and capital expenditures are which potential for annual interest saving adequacy, effectiveness and integrity of the Company’s risk management systems in anticipation of changes
denominated in Rupiah. The Company is also
in the business environment that may impede the achievement of the Company’s business objectives and to
exposed to interest rate risk through the impact
of rate changes on interest-bearing liabilities. safeguard shareholders’ investment, the Companies’ assets and reputation.
Interest rate for short and long-term borrowing
can fluctuate over the borrowing period
People Risk
› Evolution, transformation and technology › The Company continues investing in its existing human resources
innovation in telecommunication industry, development and building its performance by recruiting professionals
require the Company to have human resources and young talent.
that can realize the strategy and face the › To develop and maintain talents, the Company conducts regular
challenges in the new operational environment. performance assessment in the critical units and designs a structured
› Vacuum position in several or all executives/key human resources development road map to address the gap on new
employees, or inability to attract, or maintain skills and required development
talents will have material and adverse impact
on the Company’s business
234 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 235
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
LITIGATIONS AND CODE OF ETHICS
CONTINGENCIES
The Code of Ethics is a crucial component of the Statement must be signed by each Employee and
Following the audit of Corporate Legal team of XL Axiata on current litigation encountered by the Company, Company’s regulations, serving as a commitment documented by the Company by the Human Capital
no material qualification and substantive cases that required reporting in this Integrated Annual Report. to promoting good corporate governance practices Department.
and fostering the integrity of all employees. It outlines
standards for ethical behaviour and procedures to In December 2023, the Company has distributed
guide employees in conducting business activities The Integrity Fulfillment Statement and signed by all
ADMINISTRATIVE SANCTIONS
with professionalism and upholding ethical values. employees.
CODE OF ETHICS PRINCIPLES APPLICATION OF CODE OF
ETHICS
As of 31 December 2023, the Company did not render or accept any administrative sanctions for the Company, The Company’s Code of Ethics covers the following
or any of the Company’s organs from any authorities. principles: The Code of Ethics applies without exception to all
1. Equal Treatment of the Company’s executives and employees. The
The non-discriminatory treatment to employees Code of Ethics oblige all employees to comply and
in a sound work environment with integrity conduct key responsibility, which includes:
CORPORATE INFORMATION without exception. 1. Developing a clean and conducive internal
working environment for all employees.
ACCESS
2. Healthy Partnership 2. Developing trustworthy experience for all
Build a sound business partnership with third customers.
parties to comply with the Company’s policies 3. Developing clean business partnership with third
and prevailing regulations. parties by following all Company’s procedures
and policy.
As a public company, XL Axiata provides access INVESTOR RELATIONS 3. Anti-Corruption Culture
for the public, government, shareholders, and other Avoid conflict of interest, refuse gratification as
stakeholders to obtain corporate information and The Company appoints Investor Relations to well as applying the principles of anti-corruption, SANCTIONS FOR VIOLATIONS
data. Access is provided through several channels: provide adequate access to information about collusion and nepotism.
the Company's performance for the investment All employees are required to comply with the Code.
community and stakeholders. 4. Commitment To Customer Any violation of the Code of Ethics, applicable
DISCLOSURE OF INFORMATION Keeping the commitment to the customers business ethics or legislation, shall be considered as
TO SHAREHOLDERS by building an attitude of “Trustworthy” and intolerable behaviour and be subjected to disciplinary
WEBSITE providing appropriate solutions. action. It may result in punishment, official warning,
demotion or termination of employment. The Board
To improve the practice of Good Corporate XL Axiata provides access to corporate information of Directors is responsible for ensuring that this
Governance, the Company also provides an and data through its website www.xlaxiata. DISSEMINATION OF CODE OF standard is implemented throughout the Company’s
opportunity for Shareholders to engage with the co.id. The Company's website provides various ETHICS operational activities.
Company by providing access to information, information, including company profiles, financial
opportunities to ask questions and/or request information, products and services, GCG, corporate The Company’s Code of Ethics is available and can
data through Investor Relations or the Corporate social responsibility, information disclosure, latest be easily accessed by all employees on XLWorld as CODE OF ETHICS VIOLATIONS
Secretary, except for questions or data that are news, and others. XL Axiata website is available the Company’s internal system. The Code of Ethics AND SANCTIONS IN 2023
confidential. in Indonesian and English. The Company regularly is being socialized to Employees when they first join
updates the website to provide the latest information the Company and can be seen through the official Throughout 2023 there was no violation of the
related to the Company. website (https://www.xlaxiata.co.id). In addition, Code of Ethics within the Company. This indicates
CORPORATE SECRETARY the Company routinely distributes The Integrity that the Code of Ethics was carried out by all of the
Fulfillment Statement emphasizing working ethics Company’s organs.
The Company appoints a Corporate Secretary PRESS RELEASES with anti-corruption, collusion and nepotism. This
primarily to manage the corporate secretarial
functions, public relations functions, and manage the XL Axiata proactively provides the latest news
availability of general public information. related to Company activities in the form of Press
Releases. During 2023, 123 Press Releases were
issued and communicated to Regulators.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
EMPLOYEE AND/OR
EMPLOYEE AND/OR MANAGEMENT STOCK OPTION PROGRAMS
MANAGEMENT STOCK OPTION
PROGRAMS
Since 2016, The Company has implemented the 2. Maintain excellent management and employees Chronology of LTI Stock Listing
2016- 2020 Long Term Incentive Program (2016- and award XL Axiata management and
2020 LTI Program) as a continuation from the employees for their performance; NOMINAL
TOTAL BID PRICE SHARES
previous 2010-2015 Long Term Incentive Program 3. Improve the loyalty of the management and CORPORATE ACTIONS
SHARES
VALUE PER
(IDR) LISTING
DATE
(2010-2015 LTI Program). employees so that they have sense of belonging SHARE
for the Company; Issuance of new shares without Pre-
Indonesia
The 2016-2020 LTI Program has been approved by 4. Motivate the management and employees to emptive Rights as the implementation of
10,566,332 100 5,600 Stock 28 April 2011
the Board of Commissioners on 10 December 2015 improve their performance; and the Long Term Incentive Program 2010-
Exchange
2015 Grant Date I.
as well as approved by the GMS on 10 March 2016. 5. Provide additional value for the Company
The latest Amendment and Restatement of 2016- to attract prospective management and Issuance of new shares without giving Pre-
Indonesia
2020 LTI Program based on Extraordinary General employees with the skills that the Company emptive Rights as the implementation of
7,710,279 100 5,600 Stock 16 April 2012
Meeting of Shareholders 30 September 2019 has needs. the Long Term Incentive Program 2010-
Exchange
2015 Grant Date II.
approved the changes of Long-Term Incentive
Program 2016-2020 in a form of the followings: The 2016-2020 LTI Program has 5 (five) Grant Cycle, Issuance of new shares without giving Pre-
Indonesia
with every Grant Cycle, the eligible LTI Participants emptive Rights as the implementation of
8,214,056 100 5,600 Stock 12 April 2013
Long Term Incentive Program 2010-2015
1. 2016-2020 LTI Program Grant Cycle 1A, 1B, 2 will receive written notice on the rights to receive Exchange
Grant Date III.
and 3: incentive along with the estimated numbers of
a. The Company’s shares without option right incentive. Issuance of new shares without giving Pre-
Indonesia
emptive Rights as the implementation of
through the issuance of shares without 6,891,003 100 4,888 Stock 21 April 2015
Long Term Incentive Program 2010-2015
Pre-emptive Rights which were granted The incentive will be further vested (vesting period) Exchange
Grant Date V.
to employees and management of the in the third year after each Grant Cycle. In the first
Company from the General Manager level implementation in 2016, the LTI Program 2016-2020 Issuance of new shares without giving Pre-
Indonesia
emptive Rights as the implementation of
(and its equivalence) to the Board of Grant 1, the employees were provided with 2 (two) 8,986,668 100 3,621 Stock 04 April 2016
the Long Term Incentive Program 2010-
Directors level. grants whereby Grant 1A was vested after year two Exchange
2015 Grant Date VI.
b. Cash, which will be granted to employees just as the initial Grant Cycle and Grant 1B would be
Issuance of new shares without giving
of the Company from the Staff level to vested in accordance to the normal vesting cycle in Indonesia
Pre-emptive Rights as the implementation
Manager level (and its equivalence). year three. The given number of incentives will be 18,052,107 100 2,285 Stock 01 April 2020
of the Long Term Incentive Program 2016
determined based on the Company’s performance Exchange
– 2020 Grant Date II.
2. 2016-2020 LTI Program Grant 4 and 5: Only value and the eligible LTI Participants themselves.
Issuance of new shares without giving
Directors will be awarded in the form of cash The amount incentive will be earned may be different Indonesia
Pre-emptive Rights as the implementation
consideration and the Company’s performance from the estimated amount, as informed on each 18,662,246 100 2,328 Stock 09 March 2021
of the Long Term Incentive Program 2016
will be measured based on Return on Invested Grant Cycle. Exchange
– 2020 Grant Date III.
Capital (ROIC).
The 2016-2020 LTI Program for employees has
The 2016-2020 LTI Program aims to: been completed in 2021, namely for the LTI Grant
Cycle 3. The next LTI 2016-2020 Program will only
1. Improve the long-term performance of the be applicable to members of the Board of Directors.
Company; The entire 2016-2020 LTI Program was completed
in 2021.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
WHISTLEBLOWING
SYSTEM
REPORTING VIOLATION WHISTLEBLOWING CASE AND
FOLLOW UP IN 2023
Shall employees (including direct-contracts and
outsourcings) or third/external parties find any
behaviour/actions that are suspected of violating In 2023, there were 3 (three) complaints received
the law and/or the Company’s Code of Ethics, these through whistleblowing channels (Speak Up
parties can report it through the SPEAK UP channel. Channel) or directly reported to the Investigation
Reporting can be done by accessing the web-based Unit. Out of these reports received, 2 (two) of the
reporting system at https://axiatagroup.integrityline. reports were classified as violations. Of the 2
com Reports lodged in the official SPEAK UP channel (two) reports of violations, 2 (two) have been
will be received by the Administrator of the SPEAK resolved, and 1 (one) is not substantiated.
UP channel, which consists of the Group Head
Internal Audit and the Investigation Unit – a function
under the Internal Audit Division. Shall any report WHISTLEBLOWING SYSTEM
require a further investigation process, the appointed SOCIALIZATION
investigator may come from the Company, Axiata
Group Berhad, or external parties. If the reported
party is proven to have committed an unlawful act
or an act that violates the code of ethics, then the
During 2023, the following Whistleblowing
socialization has been conducted:
ANTI-BRIBERY AND
reported party will be dealt with in accordance with
the Company Regulations as well as prevailing laws
and regulations.
1. February: 1 (one) time socialization through
email blast to all employees.
2. May to June: 8 (eight) times socialization
ANTI CORRUPTION POLICY
during Integrity Month activities.
3. August: 1 (one) time socialization through
PROTECTION FOR email blast to all employees regarding Speak
WHISTLEBLOWERS Up Channel (Do’s and Don’ts in Reporting
Violations). In line with the value of uncompromising integrity, one of its core values, The Company has published an
4. September: 1 (one) time socialization through Anti-Bribery and Anti-Corruption Policy. This policy marks a commitment to carry out business of high
The Company shall protect and maintain the secrecy email blast to all employees regarding Conflict integrity.
of whistle-blower, and ensure their safety from any of Interest and Speak Up Channel.
possible threat resulting from the reports in which 5. December: 1 (one) time socialization through The purposes of the policy are as follows:
covering the following protection: email blast to all employees regarding Sexual 1. Ensuring compliance to Company policies and all prevailing laws and regulations.
1. Identity of Reporter; Harassment and Speak Up Channel 2. Providing information and guidelines for all stakeholders to assess situations or conditions that are
2. Confidentiality of report content; deemed to be improper, unethical or relating to bribery and corruption.
3. Threat, intimidation, or other threatening 3. Creating awareness and educating all stakeholders regarding the Company’s core values, and expected
behaviour by the reported party. conduct.
This policy is applicable for all stakeholders and not limited to the Commissioners, Directors, employees,
distributors, agents, vendors, consultants and other third parties.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE IMPLEMENTATION
IMPLEMENTATION
RELATIONSHIP BETWEEN PUBLIC COMPANY AND SHAREHOLDERS IN ENSURING THE RIGHTS OF SHAREHOLDERS
PRINCIPLE RECOMMENDATIONS EXPLANATION OF OJK RECOMMENDATIONS COMPLY
Implementation of Corporate Governance Referring to Provisions of OJK Regulation No. 21/POJK.04/2015 on The Summary of Minutes Based on the Financial Services Authority All information on
the Implementation of Public Company Governance Guidelines and OJK Circular Letter No. 32/SEOJK.04/2015 of GMS is available in the Regulation No. 15/POJK.04/2020 on the Plan the Summary of GMS
on Guidelines for Public Company Governance. Public Company’s and Implementation of the General Meeting of Minutes and GMS Minutes
website at least for one Shareholders of Public Company, The Public of the Company is
(1) year. Company must make summary of GMS Minutes published and available
RELATIONSHIP BETWEEN PUBLIC COMPANY AND SHAREHOLDERS IN ENSURING THE RIGHTS OF SHAREHOLDERS
in Indonesian and foreign language (minimum on the Company's official
PRINCIPLE RECOMMENDATIONS EXPLANATION OF OJK RECOMMENDATIONS COMPLY in English), and announced to the public within website (www.xlaxiata.
two (2) working days after the GMS, one of co.id).
Principle 1 The Public Company Every issued share with voting right has one vote Based on the Article 11 which is through the Public Company Website.
Enhancing the has a way or technical (one share one vote). The Shareholders may use (18) of the Articles of The availability of summary of GMS Minutes In addition, the Summary
Value of General procedure for both open their voting rights during the decision-making Association, each share in the Public Company Website provides an of GMS Minutes is
Meeting of and closed voting that process, in particular to decision with voting has one vote for the opportunity for shareholders who are not also submitted to
Shareholders prioritize independency mechanism. However, both open and closed holder in the General present, to easily obtain important information Shareholders through
(GMS) and interest of voting mechanism has not been specifically Meeting of Shareholders. in GMS implementation. Therefore, the provision the eASY.KSEI platform
Shareholders regulated. on the minimum period of availability of GMS no later than 2 (two)
Currently, the Company Minutes summary on the Website are intended working days after the
The Public Company is recommended to have has been utilising the to provide sufficient time for shareholders to GMS.
voting procedure in decision making of GMS e-GMS and e-Voting obtain such information.
agenda. The voting procedure must maintain platforms provided
shareholders’ independency or freedom. As by the Indonesia Principle 2 Public Company has Communication between Public Company and The Company has a
an example, an open voting mechanism is Central Securities Enhancing communication policy shareholders or investors is intended so that Company Integrated
implemented by raising hand in accordance with Depository (KSEI) to the Quality of with the Shareholder the shareholders or investors obtain clarity of Communication
option as offered by the GMS chairman. conduct electronic Communication and Investor. information that has been published to the Policy ratified on 10
AS for close voting mechanism is conducted in General Meetings of between Public public, such as periodic reports, information October 2018 that
any decision that required confidentiality or by Shareholders. Company with disclosure, business condition or prospect stipulates regulations
request from Shareholders through voting card Shareholder or and performance, as well as implementation of communication
or electronic voting. Investor of public company governance. In addition, with shareholders,
the shareholders or investors can also submit stakeholders including
All members of the The presence of all members of the Board of All members of the input and opinion to the management of employees on the
Board of Directors Directors and the Board of Commissioners of Board of Directors Public Company. The communication policy Company’s Material
and the Board of the public company aim so that each member and the Board of with shareholders or investors shows the information.
Commissioners of Public of the Board of Directors and the Board of Commissioners of XL commitment of the Public Company in carrying
Company attend the Commissioners can pay attention to explain, Axiata were present in out communication with shareholders or I n t e g r a t e d
Annual GMS and directly answer the issues or questions the Company’s AGMS investors. This policy can include strategies, Communication Policy
raised by shareholders related the GMS agenda. dated 5 May 2023 programs, and timing of communication is available on the
implementation, as well as guideline that Company’s website
support shareholders or investors to participate (www.xlaxiata.co.id).
in the communication.
The Public Company Disclosure of communication policy is a form The Company’s
discloses the of transparency on the commitment of the I n t e g r a t e d
Communication Policy Public Company in providing equality to all Communication Policy
of Public Company shareholders or investors for the implementation is available on the
with shareholders or of communication. Company’s official
investors in website. The disclosure of information also aims website (www.xlaxiata.
to increase the participation and role of co.id)
shareholders or investors in the implementation
of the Public Company communication
program.
242 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 243
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CORPORATE GOVERNANCE IMPLEMENTATION CORPORATE GOVERNANCE IMPLEMENTATION
FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS
EXPLANATION OF OJK EXPLANATION OF OJK
PRINCIPLE RECOMMENDATIONS COMPLY PRINCIPLE RECOMMENDATIONS COMPLY
RECOMMENDATIONS RECOMMENDATIONS
Principle 3 Determination of The members of the Board of Commissioners The total members of the Principle 4 The Board of The Board of Commissioners’ Self- In 2023, the Company conducted
Strengthen the the total members may affect the effectiveness of the Board Board of Commissioners of the Commissioners has Assessment policy is a guideline as assessment on the BOC and
membership of the Board of of Commissioners duties. Determination Company have been adjusted Enhancing S e l f -A s s e s s m e n t a form of collegial accountability for BOD which includes Board
composition of Commissioners took of total members of the Board of to the Company’s needs. the Quality of Policy to evaluate evaluating the performance of the Board Effectiveness, peer-to-peer
the Board of into account on the Commissioners of a Public Company must Each candidate for the Board Implementation the performance of Commissioners. Self- assessment is assessment with fellow members
Commissioners. condition of the Public refer to the provisions of the prevailing law of Commissioners must first on Duties and of the Board of carried out by each member to assess of the BOC and Cross Board
Company in which at least consists of two (2) people be thoroughly and properly Responsibilities Commissioners the collegial performance of the Board Assessments with each member
based on the provisions of the Financial examined by the Nominating and of The Board of of Commissioners, and not to assess the of the BOD. The assessment
Services Authority Regulation No.33/ Remuneration Committee of the Commissioner individual performance of each member is conducted internally by the
POJK.04/2014 on The Board of Directors Company. of the Board of Commissioners. With this Company
and Commissioners of Issuer or Public Self-Assessment, it is expected that each
Company In addition, it is also necessary member of the Board of Commissioners can The assessment includes
to consider the condition of the Public contribute in improving the performance understanding the roles, duties,
Company which includes among other, the of the Board of Commissioners on an and responsibilities as well as
characteristic, capacity and size, as well ongoing basis. evaluating the Company’s GCG.
as achievement of target and fulfilment of The assessment result will be
different business needs among the Public This policy can include the assessment used as recommendation for the
Companies. However, too many members activity as carried out along with the Company’s GCG improvement
of the Board of Commissioners have the purpose and objective, periodic period as well as one of basic
potential to disturb the effectiveness on of implementation, and benchmark considerations of the BOC to be
the implementation function of the Board or assessment criteria being used in reappointed.
of Commissioners. accordance with the recommendations
from the Remuneration and Nomination
function of Public Company as required by
OJK Regulation on the Remuneration and
Determination on The composition of the Board of Each member of Board of Nomination Committee of Issuer or Public
the composition of Commissioners is a combination of Commissioners has diverse Company.
members of the Board characteristics from both organ and expertise to maximize the
of Commissioners individual perspective according to the supervisory duties of the Board The Self-Assessment The disclosure of Self-Assessment Disclosure on Self-Assessment is
considered on need of respective Public Company. These of Commissioners in accordance Policy to evaluate the Policy on performance of the Board of available in this Integrated Annual
diversity of expertise, characteristics can be reflected in the with the Company’s business performance Commissioners is conducted not only to Report in Chapter Corporate
knowledge, and determination of expertise, knowledge and scope. of the Board of comply with transparency aspect as form Governance.
required experience experience required in the implementation Commissioners is of accountability of its duties but also to
of supervisory and advisory duty by Information pertaining with the disclosed in the Annual provide assurance to the Shareholders
the Board of Commissioners of the background as well as skill of Report of Public or investors on efforts that need to be
Public Company. The composition that each member of XL Axiata Board Company. done in improving the performance of
has considered the need of the Public of Commissioners is available in the Board of Commissioners. Upon the
Company is a positive thing, especially the Company’s website (www. availability of disclosure, the Shareholders
related to decision making related with xlaxiata. co.id). or investors acknowledge the check and
supervisory function as carried out by balance mechanism towards the Board of
considering various broader aspects Commissioners.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE IMPLEMENTATION CORPORATE GOVERNANCE IMPLEMENTATION
FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS
EXPLANATION OF OJK EXPLANATION OF OJK
PRINCIPLE RECOMMENDATIONS COMPLY PRINCIPLE RECOMMENDATIONS COMPLY
RECOMMENDATIONS RECOMMENDATIONS
The Board of The resignation policy of member of the Policy on the resignation of Board Principle 5 Determination of total As the Company’s organ that authorized in The composition of the Board of
Commissioners has Board of Commissioners being involved of Commissioners members if Strengthening members of the Board managing the Company, the determination Commissioners of the Company
policy on resignation of in financial crime is a policy that can involved in financial crimes is the Board of Directors took of total members of the Board of Directors is adjusted based on the need of
member of increase the stakeholders’ trust in the Public included in the Board Manual. of Directors into account on the has significant impact to the Company’s the Company.
the Board of Company, so that corporate integrity will be Membership condition of the Public performance. Thus, the determination
Commissioner when maintained. This policy is needed to help the The Board Manual is available on and Company. of the total members of the Board of Each candidate for the Board
involved in financial legal process and so that the legal process the Company’s website (www. Composition Directors must be done through careful of Commissioners must first
crime. does not interfere the course of business xlaxiata.co.id). consideration and refer to the provisions of be thoroughly and properly
activities. In addition, in terms of morality, the applicable regulation, whereby based examined by the Nominating and
this policy builds an ethical culture within on Financial Services Authority Regulation Remuneration Committee of the
the Public Company. This policy can be No.33/POJK.04/2014 on the Board of Company.
included in the Code or the Code of Ethics Directors and Board of Commissioners of
that applies to the Board of Commissioners. Public Company, shall at least consists of 2
(two) people. In addition, the determination
Furthermore, being involved in financial of total members of the Board of Directors
crimes shall means the convicted status must be based on the need to achieve the
from the authorities of respective member objectives and purpose of public company
of the Board of Commissioners. The financial and being adjusted to the conditions
crimes are manipulation and various forms of of the public company including the
embezzlement in financial service activities characteristic, capacity and size of the
as well as Money Laundering Criminal public company and effectiveness of the
Action as referred to Law Number 8 of 2010 decision-making by the Board of Directors.
on Prevention and Eradication of Money
Laundering Crimes.
Determination on Similar with the Board of Commissioners, Information pertaining with
The Board of Based on the provision of the Financial The Company has in place the composition the composition diversity of members of the background as well as skill
Commissioners Services Authority Regulation No. 34/ the Succession Policy which is of members of the the Board of Directors is a combination of each member of XL Axiata
or Committee POJK.04/2014 on the Nomination and used and as reference to the Board of Directors of required characteristic from both organ Board of Directors is available in
that perform the Remuneration Committee of Issuer or nomination process of the Board has considered on and individual perspective according to the Company’s website (www.
remuneration and Public Company, the committee that carries of Directors. diversity of expertise, the needs of respective Public Company. xlaxiata. co.id).
Nomination function out the nomination function has the duty knowledge and
formulate the to formulate policies and criteria needed The Succession Policy is disclosed required experience The combination is determined in view Each member of the Company’s
succession policy in the in the nomination process of prospective and available on the Company’s of expertise, knowledge and experience Board of Directors has diverse
nomination process of members of the Board of Directors. One website (www.xlaxiata.co.id). in accordance with segregation of tasks expertise to maximize the
member of the Board policy that can support the nomination and functions of the Board of Directors management duties of the Board
of Directors. process as intended is the succession policy in achieving the purpose of the Public of Directors in accordance with
of members of the Board of Directors. The Company. Thus, consideration of the the Company’s business scope.
policy on succession aims to maintain the combination of characteristics will have
continuity of the regeneration process or an impact on the accuracy of the collegial
regeneration of leadership in the company nomination and appointment of individual
in order to maintain business continuity member of the Board of Directors or
and the company’s long- term goals. Directors.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE IMPLEMENTATION CORPORATE GOVERNANCE IMPLEMENTATION
FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS FUNCTION AND ROLES OF THE BOARD OF COMMISSIONERS
EXPLANATION OF OJK EXPLANATION OF OJK
PRINCIPLE RECOMMENDATIONS COMPLY PRINCIPLE RECOMMENDATIONS COMPLY
RECOMMENDATIONS RECOMMENDATIONS
Member of the Board of The Financial Report is a management In 2023 the Director of the The Self-Assessment The disclosure of Self-Assessment Disclosure on Self-Assessment is
Directors in charge of accountability report for resources Company in charge of accounting Policy to evaluate the Policy on performance of the Board of available in this Annual Report in
accounting or finance management owned by the Public or finance is held by Mr. Feiruz performance of the Directors is conducted not only to comply Chapter Corporate Governance.
has expertise and/or Company, which must be compiled and Ikhwan who has the following Board of Directors with transparency aspect as form of
knowledge in presented in accordance with Financial educational backgrounds: is disclosed in the accountability of its duties but also to
accounting field Accounting Standards in Indonesia as Bachelor of Science (Hons) in Annual Report of Public provide assurance to the Shareholders or
well as related OJK regulations, including Economics (Accounting and Company investors on efforts that need to be done
regulation in the Capital Market sector which Finance) from The London in improving the performance of the Board
regulates the presentation and disclosure School of Economics and Political of Commissioners. Upon the availability of
of Public Company Financial Statement. Science (LSE), London, UK. disclosure, the Shareholders or investors
Based on the laws and regulations in the acknowledge the check and balance
Capital Market sector that regulates the mechanism towards the Board of Directors.
responsibility of the Board of Directors for
the Financial Report, the Board of Directors
The Board of The resignation policy of the Board of Policy on the resignation of Board
is jointly responsible for the Financial
Directors has policy Directors involved in financial crimes is a of Directors members if involved
Report, signed by the President Director
on resignation of policy that can increase the stakeholders’ in financial crimes is included in
and member of the Board of Directors in
member of the Board trust in the Public Company, so that the Board Manual.
charge of accounting or finance.
of Commissioner when corporate integrity will be maintained.
involved in financial This policy is needed to help the legal The Company's Board Manual
Principle 6 The Board of Directors Similar with the Board of Commissioners, the In 2023 the Company conducted crime. process and so that the legal process does is available on the Company's
Enhancing has Self-Assessment Board of Directors’ Self-Assessment policy assessment on the BOC and not interfere with the course of business official website (www. xlaxiata.
the Quality of Policy to evaluate the is a guideline as a form of accountability to BOD iwhich includes Board activities. In addition, in terms of morality, co.id).
Implementation performance of the evaluate collegial performance of the Board Effectiveness, peer-to-peer this policy will build an ethical culture
on Duties and Board of Directors. of Directors. assessment with fellow members within the Public Company. This policy
Responsibilities of the BOC and Cross Board can be included in the Guideline or the
of The Board of The self-assessment is conducted by each Assessments with each member Code of Ethics that applies to the Board
Directors. member of the Board of Directors to assess of the BOD. The assessment of Directors.
the collegial performance of the Board of is conductd internally bu the
Directors, and not to assess the individual Company.
performance of each member of the Board
of Directors. It is expected that each member The assessment includes
of the Board of Directors can contribute to understanding the roles, duties
improve the performance of the Board of and responsibilities as well as
Directors on an ongoing basis. evaluating the Company’s GCG.
The assessment result will be
This policy can include the assessment used as recommendation for the
activity as carried out along with the Company’s GCG improvement
purpose and objective, periodic period as well as one of basic
of implementation, and benchmark considerations of the BOC to be
or assessment criteria being used in reappointed.
accordance with the recommendations from
the Remuneration and Nomination function
of Public Company as required by OJK
Regulation No. 34/POJK.04/2014 on the
Remuneration and Nomination Committee
of Issuer or Public Company.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE IMPLEMENTATION CORPORATE GOVERNANCE IMPLEMENTATION
STAKEHOLDER PARTICIPATION STAKEHOLDER PARTICIPATION
EXPLANATION OF OJK EXPLANATION OF OJK
PRINCIPLE RECOMMENDATIONS COMPLY PRINCIPLE RECOMMENDATIONS COMPLY
RECOMMENDATIONS RECOMMENDATIONS
Principle 7 The Public Company A person with inside information is Policy to avoid Insider Trading The Public Company The Policy on vendor or supplier selection The Company has a
Enhancing has Policy to prevent prohibited from conducting a Securities is accommodated under the has policy on vendor or are useful to ensure that the Public Procurement Policy that
Governance Insider Trading. transaction by using inside information Company’s Blackout Policy. supplier selection and Company can obtain the required goods regulates the selection of
Aspect Through as stipulated under the Capital Market capability improvement. or services at competitive prices and good suppliers or vendors as well
Stakeholders Law. Public company can minimize the The Blackout Policy is quality. While the policy of increasing the as application
Participation. occurrence of insider trading through available on the Company’s capability of supplier or vendor is useful of vendor management in
prevention policies, for example by firmly website (www.xlaxiata.co.id). for ensuring the efficient and effective order to ensure
separating between confidential and supply chain. The capability of supplier the legality of the Company’s
public data as well as distributing the or vendor to supply/fulfill the goods or suppliers.
duties and responsibilities on information services needed by the company will
management in proportional and efficient affect the quality of the company’s output. The Procurement Policy is
manner. Thus, the implementation of this policy available on the Company’s
can guarantee the supply continuity in website (www.xlaxiata.co.id).
terms of quantity and quality as required
Public Company has The anti-corruption policy is to ensure that Included under the
by the Public Company. The scope of this
anti-corruption and the business activities of the Public Company Company’s Code of Ethics,
policy includes criteria in selecting supplier
fraud policy. are legally carried out with prudent manner Corporate Governance
or vendor, transparent procurement
and in accordance with the principles of Manual and XL Axiata Anti-
mechanism, effort to improve supplier
good governance. The policy can be part of Bribery and Anti-Corruption
or vendor capability, and fulfill the right
the code of ethics, or as a stand-alone policy. Policy.
relating to supplier or vendor.
The policy can include, among others, Company’s Code of Ethics,
programs and procedures carried out in Corporate Governance The Public Company The policy on fulfillment of creditor rights The Company is not engaged
overcoming corruption practices, kickbacks, Manual and XL Axiata Anti- has policy on fulfillment is used as a guideline in providing loan to in lending and borrowing.
fraud, bribery and/or gratuities in a public Bribery and Anti-Corruption of creditor rights. creditor. The purpose of the policy is to The policy in regard to the
company. The scope of the policy must Policy is available on the maintain the fulfillment of right and maintain fulfillment of creditor rights
describe the prevention of the Public Company’s website (www. creditor trust in the Public Company. The is included in the Credit
Company from all corrupt practices, either xlaxiata.co.id). policy includes consideration in making Agreement made between
giving or receiving from other parties. agreement, as well as follow-up in fulfilling the Bank as Creditors and the
the obligation of the Public Company to Company as a Debtor.
creditor.
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CORPORATE GOVERNANCE Fast-Tracking with Agility, & Resilience
CORPORATE GOVERNANCE IMPLEMENTATION CORPORATE GOVERNANCE IMPLEMENTATION
STAKEHOLDER PARTICIPATION KETERBUKAAN INFORMASI
PRINSIP REKOMENDASI PENJELASAN ATAS REKOMENDASI OJK MEMENUHI
EXPLANATION OF OJK
PRINCIPLE RECOMMENDATIONS COMPLY
RECOMMENDATIONS Principle 8 The Public Company The use of information technology can In addition to the official
The Company has the A well-developed Whistleblowing system The Company has a Enhancing utilizes technology be useful as a medium for information website, the Company also
Whistleblowing System. policy will provide certainty of protection Whistleblowing System as the Disclosure information wider disclosure. The disclosure of information has channels to deliver
to witness or reporter for an indication disclosed in this Annual Implementation. than the Website as a is not only information disclosure that information, including
of violation committed by employees or Report Chapter Corporate media for information has been regulated in legislation, but also Facebook (myXL), Youtube
management of the Public Company. The Governance. disclosure. other information related to the Public (XL Axiata Tbk), Twitter (@
implementation of the policy will have an Company, upon consideration is useful to xlaxiata_tbk), Instagram (@
impact on establishing a culture of good shareholders or investors. Upon the use xlaxiata_tbk) and LINE (@
corporate governance. The Whistleblowing of wider of information technology than myXL).
system policy includes, among others, type the Website, the company is expected to
of violations that can be reported through improve the effectiveness of information
the Whistleblowing system, complaint dissemination. Nevertheless, the use of
procedure, protection and guarantee of information technology is carried out while
the confidentiality of the reporter, handling taking into account the benefit and costs of
procedure for received complaints, parties the Company.
that managing the complaints, and the
The Annual Report The Capital Market Regulation that regulates As disclosed in this Annual
results and follow-up of complaints
of Public Company the submission of annual reports of Public Report Chapter Corporate
handling.
disclose the ultimate Company has regulated the obligation to Data.
The Public Company Long-term incentive is a given incentive The Company has a policy benefit owner in disclose information regarding shareholders
has a long-term based long-term performance on long-term incentives to Public Company share with 5% (five percent) or more shares of the
incentive policy for the achievement. The long-term incentive Board of Directors members ownership at least 5% Public Company, as well as the obligation
Board of Directors and plan has the rationale that the long-term and employees in the form (five percent), other to disclose information about directly or
employees. performance of the company is reflected of the 2016-2020 Long-term than final beneficial indirectly main and controlling shareholders
in the growth of shares value or other Incentive Program. owner disclosures in of Public Company up to the owner of the last
long-term target of the company. Long- ownership shares of benefit in the ownership of the shares. In this
term incentive shall have the benefit to the Public Company Governance Guideline, it is recommended to
maintain loyalty and provide motivation through main and disclose the ultimate benefit owner of the
to the required Board of Directors and controlling shareholder. shares of the Public Company at least 5%
employees to improve their performance or (five percent), in addition to disclosing the
productivity which will have an impact on owner of the final benefit of share ownership
improving the company’s performance in by the main and controlling shareholders.
the long run. The availability of a long-term
incentive policy is an actual commitment
by the Public Company to encourage the
implementation of long-term incentive
to the Board of Directors and Employees
with terms, procedures and forms being
adjusted to the long-term objectives of the
Public Company. The policy can include,
amongst other, the purpose of objective
in providing the long-term incentive, terms
and procedures in providing the incentive,
and condition as well as risks that must
be considered by the Public Company in
providing the incentives. This policy can
also be included in the existing public
company remuneration policy.
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
XL Axiata achieved
Carbon Disclosure Project
(CDP) certification
with a grade of B in
its first submission,
recognizing the
Company’s commitment
to environmental
transparency and
sustainability efforts.
SUSTAINABILITY
REPORT
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
SUSTAINABILITY SUSTAINABILITY REPORT
REPORT
XL AXIATA SUSTAINABILITY PILLARS
As a leading
telecommunications XL Axiata Not only encouraging Good governance XL Axiata always
contributes to Indonesia’s progress practices in every carries out strategies
company, XL Axiata is the welfare of the through digital operational activity and operational
dedicated to upholding nation by building
the economy and
infrastructure
development,
support XL Axiata
to become a strong
activities that favor
the environment
the principles of striving to improve
people’s lives.
XL Axiata is also
committed to building
company that
continues to grow.
and society as
two things that
Environmental, human resources in the contribute to
digital era. business growth.
Social, and Corporate
Governance in
all aspects of its BUILDING PROSPERITY NURTURING PEOPLE PROCESS EXCELLENCE PLANET & SOCIETY
operations. With
a strong focus on
sustainability and
responsible business XL Axiata has developed a 2022-2025 LST document with three initiatives for each LST component,
practices, XL Axiata namely:
strives to create a
positive impact on
the environment and
communities, while
maintaining a high
Accelerate energy Promoting Strengthening
standard of corporate efficiency and inclusive good
implement the stakeholder governance
governance. This use of renewable engagement. practices
commitment to ESG and clean energy to increase
to reduce carbon accountability
reflects the Company’s emissions by 45%
by 2030.
dedication to long-
term value creation
and ethical business
conduct. ENVIRONMENT SOCIAL GOVERNANCE
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
SUSTAINABILITY REPORT SUSTAINABILITY REPORT
The three components are implemented through ESG strategy planning for the period 2022-2025, where
MATERIALITY DESIGNATION
XL Axiata focuses on ESG management through the XL Sustainability Committee to govern all policies and
decisions towards ESG efforts in the Company.
The Company determines the content of the Sustainability Report through 4 steps, namely:
1. Reviewing the previous Report, while identifying the Company’s impacts on sustainability and ESG aspects
ESG ROADMAP OF XL AXIATA and setting limits;
2. Ranking the impacts and prioritizing the identified impacts;
PLAN FOCUS MATRIX FOCUS 2023 2024 3. Validate the materiality of the selected impacts that have a significant impact on the Company and its
ENVIRONMENT Climate Action Site Plan: Site Plan: Stakeholders.
› Renewable and clean energies › GHG inventory scope 1, 2 and › Verify Scope 1, 2, and 3 emission 4. Reviewing the selected materiality topics by involving the Company’s highest governance body.
Accelerate energy › Energi efficiency baselining Scope 3 emission › Scope 3: Adding inventory GHG emission
efficiency efforts (category 4, 5, 6, 7, 9, and 13) sources
and adopt clean Energy and Emission (Green Gas › Map renewable energi sources › Purchase renewable energi to support our Based on this process, XL Axiata has determined and categorized several topics in the following list of material
and renewable House/GHG) Managemen › Carbon Disclosure Project (CDP) network activities topics:
energy › GHG inventory scope 1, 2, and 3 certification › Energi efficiency by piloting energi saving
› Obtainment of environmental- initiatives with partners
based certification Target:
BOUNDARY
› Having at least five categories for Target:
Environmental Managemnet Scope 3 baselining › GHG emission is verified by third party MATERIAL TOPIC REASON DISCLOSURE NUMBER INSIDE THE OUTSIDE THE
› Water usage data monitoring › CDP Certified (Scored B-) verificatory COMPANY COMPANY
› Water efficiency consumption › Purchasing renewable enrgy source (REC)
› Inventory waste data and Digitization Describe digital 305-1, 305-2, 305-4,
improve Reduce, Reuse, and transformation in 305-4, 305-5, 305-6,
Recycle (3R) actions
the Company’s 305-7
operational activities
and in community
N N
SOCIAL Community Development Site Plan: Site Plan:
› Community partnership Develop sustainability performance › Improve impact for beneficiaries in relation activities in the
Advance social › Social empowerment impact tracking with SDG values context of reducing
empowerment Increase awareness for diversity, › Obtain validation and scoring impact for
through a digitally Digitization and Innovation equality, inclusivity (DEI) and social programs emissions
inclusive social › Digitalization for society in #PersonwithDisability › Advancing digital inclusion solution & Energy Illustrate the 302-1, 302-2, 302-3,
approach need Advancing digital inclusion solution collaboration with partners csross industry
› Program innovation in relation and collaboration with partners cross Company’s 302-4, 302-5
to support society well-being industry Target concern for energy
› Sisternet 1 million users N -
management
Target: › Additional CSR beneficiaries 10% (total
› Sisternet 1 million users beneficiaries from all CSR in 2023: 37.228) whose availability is
› Additional CSR beneficiaries › Social Return on Investment (SROI) >1 increasingly limited
› Social program for › Additional social program partnerships >30
#PersonwithDisability partners Economic To describe 201-1, 201-2, 201-3,
Performance the Company’s 201-4
achievements and N N
GOVERNANCE Ethics Compliance Site Plan: Site Plan: performance during
› Anti bribery anti corruption › Increase awareness and › Mastering awareness and understanding of the reporting yea
Strengthening › Risk management understanding of XL Axiata GCG XL Axiata GCG and data privacy ISO 27701
Good Corporate and update data privacy notice › Comply and up to date to all regulations Market Presence Describe the existence 202-1, 202-2
Governance (GCG) Privacy security › Comply and up to date to all from governance and ASEAN policies of a market for the
practices and data › Data privacy regulations from governance and
N N
security to increase › Cyber security ASEAN policies Target: Company
accountability › GCG comply with governance and ASEAN Diversity and Equal Describe the 405-1, 405-2
Target: policies
› GCG comply with governance and › Trusted data ecosystem and obtain ISO Opportunity Company’s policy
ASEAN policies 27001 to ensure diversity
› Update XL Axiata privacy notice, in N -
and provide equal
line with the laws and regulations
relating to personal data protection
opportunities for all
employees
OHS Describe the 403-1, 403-2, 403-3,
Company’s OHS 403-4, 403-5, 403-6,
performance to 403-7, 403-8, 403-9,
N -
realize a safe and 403-10
comfortable work
environment
Customer Health and Describe the 416-1, 416-2
Safety Company’s efforts to
maintain customer
N N
health and safety
258 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 259
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
ENVIRONMENTAL
ENVIRONMENTAL PERFORMANCE
PERFORMANCE
dependence on non-renewable sustainability, the Company generation of paper waste
energy sources and reduce its has replaced non-renewable is reduced, consequently
carbon footprint. By integrating energy with renewable energy supporting the Go Green
solar energy solution, the sources, such as solar energy. initiative.
Company not only minimizes its This involves the installation of
environmental impact but also solar panels in 250 BTS locations XL Axiata also launched an
sets an example for sustainable across Indonesia. energy-saving program in BTS
business practices in the commonly referred to as “Green
telecommunications industry. XL Axiata’s commitment to BTS”, such as:
environmental sustainability 1. Intelligent Ventilation Cooling
is demonstrated through its System (IVS), use of DC fans
In addition to these efforts, implementation of eco-friendly and Air Conditioning.
XL Axiata has partnered with business operations. This involves 2. Implementing PLNization
suppliers and vendors who the efficient management and outdoorizing a number
align with its commitment of paper materials, electrical of sites to eliminate the
XL Axiata is dedicated to reducing its impact on the to sustainability. By sourcing energy, fuel oil, emissions, water, use of air conditioning as a
environment by adopting sustainable measures and eco-friendly cellular cards and and waste. To achieve the best coolant.
data materials, the Company outcomes, the management is 3. The use of BTS Single RAN is
integrating environmental considerations into its business ensures that its entire supply guided by the 4R principle, which to combine several types of
strategies. The company aims to minimize its carbon footprint by chain supports environmentally emphasizes reduce, replace, BTS into one. The utilization
conscious practices. reuse and recovery resources. of Green BTS through
lowering energy consumption, with a goal of reaching net zero network modernization with
carbon emissions by 2050. As a result of these initiatives, Some of XL Axiata’s programs the latest technological
XL Axiata is not only reducing related to the environment are as devices, can save 50% of
its environmental impact but follows: energy use.
also positioning itself as a 1. Control and manage energy 4. The use of Hybrid System
responsible and forward-thinking and emissions. Charge Discharge Battery
In 2023, XL Axiata signed a and sustainability efforts. This environmentally friendly telecommunications company 2. Sorting office domestic (CDC) in BTS in remote non-
memorandum of cooperation certification has become one of practices, the Company has dedicated to sustainable waste by providing trash electric areas to reduce
with Kadin Net Zero Hub with the the main references for many implemented initiatives focusing development. Overall, XL Axiata cans with adequate amount. diesel consumption by an
aim of cooperation to exchange investors, governments, and non- on digitalization and sustainable has adopted sustainable business 3. Reduce the use of plastics average of 54%.
knowledge and information, profit organizations in making practices. One of the key initiatives practices such as digitizing such as plastic cups, plastic 5. Reduction in the use of new
broaden horizons, and also share sustainable investment decisions, undertaken by XL Axiata is the processes, utilizing renewable bottles, and plastic cutlery in refrigerants for BTS cooling
resources in order to realize a low- policies, and business strategies. digitization of processes and energy for more of its BTS office space, canteen, pantry and XL Axiata offices.
emission ecosystem in Indonesia. services to reduce the reliance towers, and partnering with eco- and meeting rooms. 6. Electricity usage.
The joining of XL Axiata in this USE OF on paper. By transitioning to friendly suppliers. 4. Reduce paper usage by 7. Descope generator, disable
community is in line with the goal ENVIRONMENTALLY digital platforms for transactions, implementing digitization the generator and switch
to become a telecommunications customer communications, and ENERGY systems in various processes the power backup function
FRIENDLY
company in Indonesia that pays internal operations, the Company CONSUMPTION operations, such as the completely to the battery.
attention to the principles of MATERIALS has significantly reduced its process of procurement, 8. Increase the use of Solar
sustainability in business. paper consumption, contributing The Company’s operational approval, and others. Panels and Lithium Batteries.
As a telecommunications to environmental preservation. activities rely on nonrenewable 5. Replacing copper cables to
Recently, XL Axiata achieved company, XL Axiata relies on energy sources such as electrical fibre optics that are more In 2023, the Company’s energy
Carbon Disclosure Project (CDP) paper, cellular cards, and data Furthermore, XL Axiata has been energy and diesel fuel for BTS environmentally friendly. consumption in 2023 increased
certification with a grade of B in supported through BTS towers investing in the development that lack access to electricity, 6. By utilizing COUPA as by 6.45% from 3,105,365 Gj to
its first submission, recognizing as its primary raw materials. of renewable energy sources as well as pertalite type fuel oil an integrated digital 3,305,738 Gj. This increase is in
the Company’s commitment To minimize excessive use of to power some its BTS for transportation. To promote procurement system, the line with the data production/
to environmental transparency these resources and promote towers, aiming to decrease its
260 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 261
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
ENVIRONMENTAL PERFORMANCE ENVIRONMENTAL PERFORMANCE
traffic generated in 2023 that is higher than last year, however the Company’s energy intensity was lower at GHG Emission
290 Gj/Petabyte. 2023 2022
GHG EMISSION
UNIT TOTAL EMISSION INTENSITY TOTAL EMISSION INTENSITY
COVERAGE
ENERGY SOURCE UNIT 2023 2022 EMISSION (tCO2e/PETABYTE) EMISSION (tCO2e/PETABYTE)
Non-renewable Energy Total Emission Scope 1 4,255.54 0.37 5,834.11 0.73
PLN Electricity Kwh 902,853,187.65 840,667,225.93 Total Emission Scope 2 695,828.95 61.06 648,260.92 81.12
Gigajoule 3,250,271.48 3,026,402.01 Total Emission Scope 3 tCO2e 5,743.82 0.50 - -
Fuel (Petrol) Liter 228,001.34 242,090.78 Total Emission Scope 1, 705,828.32 61.90 654,095.03 81.84
Scope 2, and Scope 3
Gigajoule 7,797.65 7,988.99
Solar (Diesel) Liter 1,393,829.51 1,971,499.44 Note:
GHG Emission Calculation using IPCC 2006 Guidelines, and Oil and Gas Research and Development Center 2017.
Gigajoule 47,668.97 70,973.98
Total Energy Gigajoule 3,305,738 3,105,465 Category Detail of Emission Scope 3 in 2023
Energy Intensity
CATEGORY TOTAL EMISSION
Data Traffic Petabyte 11,402 7,991
Category 4 299.35
Energy Consumption Intensity Gigajoule/Petabyte 290 389 Upstream transportation and distribution
Information: Category 5 1.316.13
Fuel consumption from liters is converted to Gjoules using The Greenhouse Gas Protocol Initiative, 2004. Waste generated in operations
Electricity consumption from kWh is converted to Gjoules using The Greenhouse Gas Protocol Initiative, 2004.
Category 6 596.05
Business travel
Category 7 702.45
EMISSION 3. X-Camp launched ‘Xinergis’,
Employee commute
The Company’s operational a smart energy solution to Category 9 2,785.93
Downstream transportation and distribution
XL Axiata is committed to activities produce emissions from meet the needs of real-time
achieving net zero by 2050. The stationary energy combustion, monitoring of electricity Category 13 43.91
Company has carried out various mobile energy combustion, consumption, amount of Downstream leased assets
initiatives such as efforts to electricity consumption, and so clean water usage, and
reduce energy use as previously forth. generator fuel consumption
described so as to reduce Scope in buildings or offices. The Company’s emission generated from business consumption bills received from
1 and 2 emissions. The Company In an effort to control its 4. Regular evaluation and intensity in 2023 was recorded operations in order to continue PDAM was 7,382.32 m³.
has also calculated the Scope emissions, the Company coordination between at 61.90 tons CO2e/petabyte, to reduce emissions and achieve
3 carbon emissions in 2023 as conducts comprehensive departments to discuss higher than last year’s 81.84 tons net zero by 2050. The Company is currently
the first step to determine the emission monitoring and initiatives that can be CO2e/petabyte. The decrease in improving the way it monitors
emission reduction target in management by carrying out the carried out for improvement the Company’s emission intensity WATER continuous water consumption,
Scope 3. following: regarding Emissions. figure is the result of the emission including by attempting to
1. Developed Energy 5. Implementing more reduction initiatives taken by the In its operations, the Company create a more comprehensive
In 2023, the Company also joined Monitoring System – implementation for Solar Company. uses water from the Public monitoring methodology.
Kadin Net Zero Hub to contribute multiplatform to monitor Panels (Renewable Energy). Water Supply Company (PDAM)
in creating a sustainable business energy consumption. 6. Conducting communication The company has set an and groundwater managed by For wastewater disposal, the
ecosystem in realizing net zero 2. Realtime Network Monitoring campaigns to save energy emissions reduction target for third parties or building owners Company uses a Wastewater
commitment. System – to monitor and electricity among XL 2023 of 125 Kg CO2e/terabyte for domestic activities. The Treatment Plant (WWTP) also
operations, including Axiata employees. and for 2022 of 155 Kg CO2e/ Company utilizes water wisely managed by third parties or
monitoring sites. terabyte. From the emission and strives to increase employee building owners. Wastewater
reduction figures in 2023, the awareness regarding water management through the
Company is able to exceed the consumption through water WWTP is carried out to produce
target set. conservation campaigns. waste that meets environmental
quality standards when
The Company continuously In 2023, the water consumption discharged into water bodies or
strives to manage emissions taken from the Company’s water city channels.
262 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 263
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
ECONOMIC PERFORMANCE
ECONOMIC PERFORMANCE
XL Axiata, one of Indonesia’s top telecommunications ECONOMIC PERFORMANCE 2023 2022
companies, has consistently invested in improving its Amortisation expenses 157,216 7,567
Finance cost 2,939,979 2,777,385
infrastructure and expanding network coverage. By offering
Income tax expense/(benefit) 420,069 231,842
reliable services, XL Axiata has played a crucial role in enhancing Cash dividends paid 549,023 544,078
connectivity and facilitating economic activities across the country. Community expenditure 20,735 10,419
Additionally, the Company’s focus on sustainable business practices Total Economic Value Distribution 31,872,703 29,037,143
and corporate social responsibility initiatives has benefited local Retained Economic Value 714,690 577,110
communities while positioning it as a responsible corporate citizen
dedicated to driving positive change and fostering sustainable
THE EFFECT OF CLIMATE 1. DPLK (Financial Institution Pension Fund) in
development in Indonesia. CHANGE ON BUSINESS the form of definite contributions with the
Company’s contribution of 7% of wages and
contributions from employees of 3% of wages.
XL Axiata understands the urgency of climate 2. JP (Pension Guarantee) from BPJAMSOSTEK
change and is dedicated to reducing greenhouse in the form of a definite contribution of 3% of
gas emissions. The Company has taken significant wages where 2% of contributions are paid by
In 2023, the Company delivered positive economic benefits, dividend disbursements, tax payments, and steps, including becoming a member of Kadin Net the Company and 1% of contributions from
performance with direct economic income of CSR fund allocations. Thus, the total distribution of Zero Hub in 2023 with a goal of achieving net zero employees.
Rp32,587 billion, 10.04% increase or the equivalent the Company’s economic value in 2023 is Rp31,873 by 2050. Additionally, XL Axiata is implementing
of Rp2,973 billion from the previous year. The billion, an increase of 9.77% compared to 2022 of energy-efficient solutions and promoting sustainable The maximum wage limit will be adjusted periodically
Company redistributed this direct economic value to Rp29,037 billion. practices to minimize its impact on the environment, based on Government Regulation (PP) No. 45 of 2015.
stakeholders through operating expenses, employee aligning with global efforts for cleaner energy
systems. The estimated actuarial liabilities as of 31 December
2023 and 2022, are based on actuarial assessments
ECONOMIC VALUE ACQUISITION DISTRIBUTION In addition, the Company also began conducting by independent actuaries, as stated in their reports
Scope 3 emission calculations in 2023, covering the dated 20 January 2024 and 24 January 2023,
(In Rp Million) categories of upstream transportation and distribution, respectively.
ECONOMIC PERFORMANCE 2023 2022 waste generated from operations, official travel,
employee commute, downstream transportation and Assuming the calculation of benefit payments based
ECONOMIC VALUE ACQUISITION
distribution, and leased downstream assets. Thus, on pension funds, as of 31 December 2023, the funds
Revenues 32,322,651 29,141,994
the Company has conducted an inventory of Scope allocated reached Rp222,847 million, a decreased
Profit (loss) exchange difference - net 12,977 (61,295) 1, 2 and 3 emission calculations and can monitor its compared to 2022 of Rp183,030 million.
Gain from the sale and leaseback of tower 424,062 446,805 efforts in reducing emissions and achieving the net
Others (80,900) (28,807) zero target by 2050. In accordance with the Company Regulations and
Collective Labour Agreement (CLA), it is determined
Finance income 100,096 111,718
that the normal retirement age of employees is
Share of profit/(loss) from Associate Entity (191,493) 3,838
DEFINED BENEFITS PROGRAM 56 years. During the reporting period there were
Total Direct Economic Acquisition 32,587,393 29,614,253
AND OTHER PENSION PLAN 5 employees who retired. The Company has paid
ECONOMIC VALUE DISTRIBUTION obligations to the employees who retire.
Depreciation expenses 11,347,758 10,569,622
OBLIGATIONS
Infrastructure expenses 8,995,646 7,733,947
Sales and marketing expenses 2,454,775 2,617,998
In accordance with the Manpower Law, the Company FINANCIAL ASSISTANCE FROM
Interconnection and other direct expenses 3,172,220 2,876,477
has a policy of providing employee benefits and THE GOVERNMENT
pensions by providing facilities for employee
Salaries and employee benefits expenses 1,402,242 1,325,529 participation in pension plans. The pension program In 2023, XL Axiata did not receive financial assistance
General and administrative expenses 413,040 342,279 within XL Axiata consists of: from the government.
264 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 265
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
SOCIAL PERFORMANCE
SOCIAL PERFORMANCE
XL Axiata demonstrates its commitment to social responsibility TRAINING NAME MATERIAL ORGANIZERS
PLACE AND TIME OF
through the way it interacts with both its employees and the IMPLEMENTATION
community. The Company fosters a positive working relationship Internal Audit Minister of Manpower
Certification
Phitagoras Training
and Consulting
31 July – 04 August 2023
with its staff through HR and OHS management initiatives, while (PJK3)
also engaging in CSR programs to benefit the wider community. First Aid in Accidents Internal Mandiri in Health XL Axiata Tower 36th Floor, R.
Jayawijaya 1-2 July 5 & 7, 2023
Occupational Health and Safety Internal PQM Consultant XL Axiata Tower 36th Floor R.
Management System Intervention Jayawijaya 1 – 2, 21 September 2023
Incident Investigation BNSP Certification Phitagoras Training Hotel Kristal, West Cilandak, South
OHS ASPECT › Chairman of P2K3: I Gede Darmayusa (Director
and Consulting Jakarta 20 – 22 September 2023
of Technology) Hazard Identification Risk Internal PQM Consultant XL Axiata Tower 36th Floor R.
› Vice Chairman 1 P2K3: M. Hira Kurnia (Chief Assement and Determining Jayawijaya 3, 13 October 2023
The OHS aspect highlights the Company’s Human Capital Officer) Control (HIRADC)
commitment in providing an efficient, healthy › Deputy Head 2 P2K3: Feby Sallyanto (Chief
Executive Briefing SMK3 PP No. Internal PQM Consultant XL Axiata Tower 36th Floor, R.
and safe workplace for workers as stated in the Enterprise & SME Officer) 50 of 2012 Semeru 2, 17 October 2023
Company’s OHS policy. Through the Occupational › Secretary of P2K3: Andi Chandra (General
Health & Safety Management System, XL Axiata Occupational Safety and Health Expert Class D Fire Role Officer Minister of Manpower PT. Garuda Systrain Garuda Office Day Zoom
identifies potential hazards, assesses risk levels, and Certification) Certification Interindo (PJK3) 25 – 27 October 2023
establishes control efforts so that the Company is › Member: Work Accident Investigation Internal PQM Consultant XL Axiata Tower 36th Floor, R.
able to ensure the safety of all workers in carrying - Group Head Semeru 1, 03 November 2023
out their duties and responsibilities in the Company. - Head
- Employees Internal Audit Internal PQM Consultant XL Axiata Tower 36th Floor, R.
In addition, the Company also conducts a regular - XL Workers’ Union Semeru 1 November 10, 2023
OHS audit process which is carried out every 3 years. Basic Life Support Internal Mandiri in Health XL Axiata Tower 36th Floor, R
The last OHS audit was conducted in 2020, where To improve the quality of employee occupational Jayawijaya 1-2, 11 December 2023
XL Axiata obtained an OHS audit result of 88.5% health, XL Axiata also has various health facilities
(Satisfactory) which is valid until 2022. The OHS or facilities such as sports facilities (gym), medical
audit was again conducted by XL Axiata in 2023 check-ups, and clinics complete with doctors who
with an OHS audit result of 93,37% (Satisfactory). are ready at certain times. All of these health facilities LOCAL COMMUNITY empowering local communities. Through strategic
can be accessed by all employees at any time. EMPOWERMENT ASPECT partnerships with local non-profit organizations
As a form of communication and employee and community groups, the Company has been
participation in OHS, XL Axiata formed a team of XL Axiata also participates in increasing employee able to implement programs focused on education,
Occupational Safety and Health Advisory Committee awareness, skills and knowledge in the form of OHS XL Axiata actively oversees sustainable community healthcare, and environmental sustainability. Overall,
(P2K3) that represents all XL Axiata employees. The training and other OHS programs. In 2023, the OHS development initiatives as part of its CSR efforts. This the Company’s CSR efforts underscore its steadfast
Organizational Structure of the Occupational Safety training and programs conducted by the Company dedication reflects the Company’s understanding of commitment to being a responsible corporate
and Health Committee (P2K3) has the following are as follows: its role as a business entity committed to sustainable citizen and making a positive difference in the lives
composition: growth. It firmly believes that business success of the communities it serves.
should be accompanied by a meaningful impact on
the country’s progress. The Company’s commitment Social activities or CSR activities carried out by XL
to sustainable community development is evident Axiata in 2023, are as follows:
through its various initiatives aimed at uplifting and
266 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 267
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
SOCIAL PERFORMANCE SOCIAL PERFORMANCE
CSR Programs 2023
SISTERNET
CSR programs carried out by the Company in 2023 for the development of
local communities, were as follows:
Since its launch on April 23, 2015, Sisternet has Natasia Mareti, founder @myfashionistas
now helped more than 500,000 women and @yorrieatery 1st Champion of Smart
more than 3,000 women MSMEs. In order for Capital Competition 2021
XL FUTURE LEADERS (XLFL)
Sisternet to continue to improve and expand - Financial Class: Financial Management
the value of benefits for Indonesian women, Strategies for a Brilliant Business in the
Sisternet works closely with various women’s Digital Era with Roswitha Jassin MBA,
XL Axiata strives to producing exceptional › XLFL Provides Training to Andalas
communities and organizations, as well as C.F.P.QLP, financial planner, financial
human resources (HR) capable of advancing University Graduates
with many social activists in various regions. In educator, womenpreneur
Indonesia forward. The Company prioritizes The XL Axiata Future Leaders (XLFL)
addition, Sisternet also actively collaborates with - Digital Marketing Class: Optimizing Digital
the development of students’ soft skills and program offers training to Andalas Padang
a number of government agencies such as the Marketing for Viral Business in 2023 with
leadership abilities, and collaborates with various University (UNAND) graduates, primarily
Ministry of PPPA, Ministry of Communication and Sylvia Surya, CEO of Kopi Soe & Co-
educational institutions to enhance these efforts. focused on preparing them with the essential
Information, Ministry of Transportation, Ministry founder of Menantea Group
skills needed to enter the workforce after
of Villages, Development of Disadvantaged
The XLFL program is designed to equip graduation. Around 5,400 students from
Regions and Transmigration, Ministry of Health, › Instagram Quiz January 2023
Indonesia’s youth with the necessary skills to various faculties and departments attended
G20 and W20 Indonesia. One of the digital activations on social
mitigate future challenges, including effective the XLFL and UNAND collaboration event
media for sisternet members by holding a
communication, adaptability, and creative held at the Andalas Padang Convention Hall,
Sisternet is a digital-based women’s social media quiz in the framework of the
problem-solving. Entering a decade, the XLFL with a total of 5 events throughout 2023.
empowerment program that aims to increase the beginning of 2023
program has produced 1,310 alumni, many of
capacity of Indonesian women, both for women
whom have entered the professional world and The program offered includes workshops on
business owners or women who focus on careers › Smart Webinar January 2023,
pursued various career paths. crafting resumes and tips for facing interviews,
and education by providing a variety of smart “Abundant Business Turnover with
particularly beneficial for graduating students
webinars, activities, articles and application Digital Marketing Techniques” with Dr.
From October to December 2023, a total of 190 in search of employment opportunities. Such
features that can be accessed for free. Dwi Purnomo, S.T.P., M.T., Founder of
students benefited from XLFL Batch 10 Regular provisions equip students with the necessary
The Local Enablers
e-Workshop programs, as well as other workshop skills to apply for various job positions.
The following activities and events were held The first webinar class in 2023 which aims
activities catered to non-XLFL scholarship
throughout 2023: to educate female MSME players to increase
recipients. These initiatives included elearn. › XLFL National Conference 2023
turnover by applying the right digital
id Workshops, Soft Skills & Leadership classes This year’s XLFL held an offline National
› Sisternet 2023 Smart Capital Competition marketing techniques on social media in
conducted by XLFL and UGM, and other related Conference for participants of XLFL Batch
Indonesian Women MSME incubation program accordance with the target market and
activities. Overall, XL Axiata Future Leaders 10. The event, which took place in Jakarta
that will take part in the kick-off event, test products sold.
successfully developed a total of 1,500 young on 9-10 December 2023, featured a series of
and 4 incubation classes. After the semifinal
leaders in 2023. events including an AIoT solutions exhibition
process, 26 finalists proceeded to an individual › February 2023 Photo Competition
by XLFL participants, war games, the
advisory session with Ms. Yasmin Wirjawan as “Sister Bercerita”
During the Covid-19 pandemic, the Regular graduation of 190 Batch 10 awardees, and a
independent commissioner of PT, XL. Axiata, In order to welcome International Women’s
Workshop was held online using Zoom for XLFL closing ceremony for the XL Axiata Future
Tbk and the final presentation to determine Day, Sisternet invites Indonesian women to
Batch 10 participants. There are a total of 8 classes Leaders program. The event was attended by
8 winners who will get capital prizes worth take part in a photo competition through
for this Batch. This workshop class represents representatives from XL Axiata and Mr. Dino
a total of Rp200,000,000. The 4 mentor the sisternet application that tells personal
various cities including Jakarta, Bandung, Patti Djalal as a speaker at the talk show.
classes provided are: inspirational stories that want to be shared
Surabaya, Yogyakarta and Medan. Topics include
- Product & Market Segment Innovation to inspire other women.
leadership, communication, entrepreneurship,
Class: Creative Product Innovation in Digital
and others.
Ecosystem for Hot-Selling Business with › Smart Webinar February 2023
Sarita Sutedja, Co-founder of Foodizz id “techniques for Designing a Unique and
- Business Roadmap Class: Strategy to Creative Product Branding Strategy
Determine Goals for Digital Transformation with Syammas Phinastika Syarbini,
Roadmap Business in 2023 with Yessie Content Creator
268 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 269
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
SOCIAL PERFORMANCE SOCIAL PERFORMANCE
The second webinar class in 2023 which aims › IG Live “It’s Okay Not To Be Okay, › Instagram Quiz May 2023 › Live IG “Mom and Her Inner Child” with
to educate female MSME players to develop a Sis!” with Offie Dwi Natalie, M.Psi, One of the digital activations on social media Melisa Kusnadi, Momfluencer
comprehensive branding strategy to increase Psychologist and Puteri Indonesia for sisternet members by holding a social Digital Activation on Social Media that
product sales. Jambi 2019 media quiz in order to introduce the new UI/ presents speakers to educate women on
Digital Activation on Social Media that UX of the sisternet application. how to nurture children who please their
› IG Live Special International Women’s Day, presents speakers to educate women to be mother’s inner child in commemoration of
Let’s Dare to Speak Up & Share on Social able to grow into mentally healthy women › Sisternet Cooking Class, “Mabar With National Children’s Day.
Media with Puty Nurul, Content Creator by being able to control negative emotions Sis Ade” Gluten Free Chocolate Mille
Parenting within themselves into positive energy. Feuille Cake › Instagram Quiz July 2023 National
The first Digital Activation on Social Media One of sisternet’s offline activations that invited Children’s Day
that presents speakers to educate women not › Smart Webinar May 2023 “Becoming a 20 lucky sisternet members to join a free One of the digital activations on social
to feel shy about sharing on social media, not Guilt-Free Parent While Doing Business” cooking class with one of Sisternet’s Big Sisters. media for sisternet members by holding
to worry about oversharing or overthinking. with Sheyla Taradia Habib, Founder @ the fourth social media quiz in July and in
beeme.official › Instagram Quiz June 2023 commemoration of National Children’s Day.
› International Women’s Day, Accelerating The fourth webinar in 2023 which aims to One of the digital activations on social media
Indonesian Women’s Digital Equality educate women who are already mothers for sisternet members by holding a social › Instagram Quiz July 2023
An event organized for internal employees of and have businesses at home not to feel media quiz. One of the digital activations on social
PT XL Axiata in the framework of International guilty if they are faced with business or media for sisternet members by holding
Women’s Day which held a talk show by family priorities. › Instagram Quiz July 2023 the fifth social media quiz in July
presenting 3 inspirational speakers, namely: One of the digital activations on social media
- Yessie D. Yosetya, Director & Chief Digital › The Founder Fest Sisternet x USS Feed for sisternet members by holding the first › Instagram Quiz August 2023
Transformation & Enterprise Business One of the big events that brought social media quiz in July. One of the digital activations on social
Officer and Chair of G20 Empower Indonesia thousands of offline audiences, where media for sisternet members by holding
- Willy Salean, HR Director of PT Unilever, Tbk. Sisternet became one of the supports › Auto Product Webinar Class with Free the first social media quiz in August.
- Coach Lika Satvarini, Chief Executive through Mrs. Yessie D. Yosetya as director & Photo Edit Tricks with Astrid Febrina Rizal
Officer of Lively Trainning Academy, chief digital transformation and enterprise The sixth webinar in 2023 which aims › Reels Empowering Local Competition
Certified Master Trainer, Career Coach. business officer, PT XL Axiata, Tbk, who to educate women MSMEs to be able to One of the social media activations for
became one of the speakers in the talk maximize portfolios and product photos using women who have their own business
› Smart Webinar March 2023, Strategies to show session to voice Sisternet. free photo editing applications to maximize or business can tell their excitement or
Get Investors to Fund Your More Advanced product and store branding. inspirational stories with the reels feature
Business with Lailatul Himmi, Founder of › Instagram Quiz May 2023 on Instagram.
Himni Academic Institute Foundation @ One of the digital activations on social › Sisternet at XL Axiata Technology days
haischool_ @haischool.kids media for sisternet members by holding 2023 › Indonesia Start Up Ecocystem Summit
The third webinar class in 2023 which aims a social media quiz in order to enter the One of the go to market activities for Sisternet 2023, KemenkopUMKM x Sisternet
to educate women MSMEs who are ready to month of May Fostered MSMEs where slots are provided One of Sisternet’s collaborative activations
escalate their business level by strategizing for 2 Sisternet MSMEs to open a booth to with KemenkopUMKM which provides
to attract investors’ attention and interest for › Smart Webinar May 2023 “Increase sell their products for free in 2 days at the access to go to market for Sisternet-
business funding. Your Business Turnover Only With big technology days event organized by XL fostered MSMEs in Solo for 1 full day for
Reels” with Minni Gunawan, S.E., DIY Axiata offline. free.
› Instagram Quiz March 2023 MSME mentor and photographer
One of the digital activations on social media practitioner › Instagram Quiz July 2023 › Instagram Quiz August 2023
for sisternet members by holding a social The fifth webinar in 2023 that aims to One of the digital activations on social media One of the digital activations on social
media quiz in order to celebrate fasting. educate female MSME players to start for sisternet members by holding the second media for sisternet members by holding a
escalating brands on social media and social media quiz in July. second social media quiz in August.
› Instagram Quiz April 2023 portfolios with attractive and appropriate
One of the digital activations on social media visual images to attract attention and › Instagram Quiz July 2023 › Instagram Quiz September 2023
for sisternet members by holding a social interest from customers and investors. One of the digital activations on social media One of the digital activations on social
media quiz in order to celebrate Ramadan for sisternet members by holding a third social media for sisternet members by holding
media quiz in July. the first social media quiz in September.
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SOCIAL PERFORMANCE SOCIAL PERFORMANCE
› Instagram Quiz September 2023 › Realizing Opportunities for 1 Million QUOTA DONATION LAUT
PESANTREN DIGITAL
One of the digital activations on social media Indonesian Women MOVEMENT (GDK) NUSANTARA
for sisternet members by holding a second The first phase of launching new features
social media quiz in September in order of the sisternet application with the Ibu
to communicate the new features of the Hebat community. The new features
Sisternet application. launched are: Quota Donation Movement Pesantren Digital is Laut Nusantara is an innovative
- A new user friendly look (GDK) is a program initiated one of XL Axiata’s technology for catching fish
› Instagram Quiz October 2023 - Sister Menulis: a blogging tool that by XL Axiata to encourage commitments to support in the form of an Android-
One of the digital activations on social media contains inspirational stories by the participation of the government’s program based application that works in
for sisternet members by holding the first Indonesian women. customers and the public in the equal distribution collaboration with the Marine
social media quiz in October. - Referral code: a member get member in general to voluntarily and improvement of digital Research and Observation
code to invite friends or closest people donate their quota, which is literacy towards the Society Center (Ministry of Marine Affairs
› Instagram Quiz October 2023 to become part of Sisternet. then distributed to improve 5.0 era, especially in informal and Fisheries) and XL Axiata.
One of the digital activations on social media - Poin Sister: collecting points to get the quality of education in educational institutions The aim of this application is to
for sisternet members by holding a second various rewards from Sisternet. Rewards schools in various corners such as pesantren (boarding drive a cultural transformation
social media quiz in October. can be redeemed in January 2024. of Indonesia. schools). The training is among fishermen, from simply
- Competition: this feature presents a intended for male and “searching for fish” to “catching
› Effectiveness of Capital Utilization for variety of competitions with prizes of In the midst of the Covid-19 female students (Santri & fish,” through the utilization of
Sisternet x XL Axiata Peduli Women millions of Rupiah. pandemic, XL Axiata fully Santriwati) according to the information technology. With this
MSMEs - Tier & Mission to Daily Checkin, a loyalty supports the policies required skills, which in this single application, fishermen can
Sisternet and XL Axiata care collaboration program with various benefits. of the Government of case is training on Youtube plan their fishing activities more
program that provides training for 27 women - Agenda Berbagi is a series of online Indonesia through the Principal, Content Planning, efficiently, independently identify
MSMEs in Malang City for 4 months in the and offline classes. Ministry of Education and Content Execution, Content the nearest fishing locations,
period 2023-2024. In addition to the training Culture of the Republic of Editing, Content Review, estimate fuel requirements,
program, online assistance and mentoring is › Health Anniversary Ibu Hebat x Indonesia regarding the Optimization of YouTube anticipate selling prices, and
also provided throughout November 2023 Sisternet implementation of internet Channel and YouTube consider weather and sea
- February 2024 in collaboration with the One of the offline event activations data quota assistance On Air, introduction to conditions while working at sea.
Benih Baik Foundation and the Bloggercrony in collaboration with the Ibu Hebat policies for students and Website and Website
community, BCC Bloggerpreneur, ReselleRun, community which presents 200 female educators at the PAUD, Building. Additionally, Since its launch in 2018, the
Mom Digipreneur and Amangtiwi Malang City. participants to exercise pound fit together elementary and secondary the Digital Pesantren Laut Nusantara application has
at XL Axiata Tower. levels, students and activities also include the been downloaded more than
› Sisternet Goes To Campus Pontianak lecturers, in supporting utilization of IoT for the 62,000 times with 57,213 active
One of Sisternet’s biggest offline events › IG Live “New Year, New Opportunity: the implementation of economic empowerment of users, and has been socialized
which brought together 2,800 female Talking about Business Trends 2024” distance learning during the pesantren. An example is the in more than 500 fishing villages
students in Pontianak with an exciting talk with Yessie Natashia. COVID-19 pandemic. cultivation of Maggots for throughout Indonesia.
show and seminar on the issue of bullying in Digital Activation on Social Media that organic waste management
collaboration with UPT Bahasa Tanjungpura presents speakers to educate women to get Throughout 2023, the in several pesantren. In Throughout 2023, Laut Nusantara
University Pontianak which presented 20 ready for business opportunities in 2024. GDK program focused on 2023, Digital Pesantren has focused on the development of
local female MSMEs in Pontianak. donating routers and free benefited more than 2,600 new features and cooperation
› Smart Webinar and Live Cooking data, benefiting more than male and female students in opportunities. In addition,
› Instagram Quiz December 2023 Healthy Cuisine Creation with 30 1,900 individuals, with an Indonesia. socialisation efforts were
One of the digital activations on social media Thousand Capital average monthly donated carried out in Wakatobi, Natuna,
for sisternet members by holding the first The seventh webinar in 2023 which aims to data quota of more than Suak Gual (Belitung), and Bali,
social media quiz in December 2023. educate women to start a healthy life with 52,000GB. benefiting more than 124,000
healthy dishes that are pocket-friendly individuals since the beginning of
and affordable. This webinar collaborated its operation.
with the Ibu Hebat community which
brought 200 women to the webinar.
272 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 273
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
GOVERNANCE PERFORMANCE
SOCIAL PERFORMANCE
XL AXIATA BAIK
XL Axiata is committed to continuously enlarging to the Kurnia Asih Children’s Orphanage.
its contribution to society through useful and Not only in the form of financial donations
sustainable programs, one of which is through to support the needs of the orphanage,
social sharing actions that have been carried this program also held literacy on the
out for years through company programs. importance of reading from an early age,
to education on the variety of Sundanese
XL Axiata Baik is a program launched by the culture to the orphanage children who
Company since February 2021 and carried attended. In addition, there was also an
out independently by employees and with the introduction to literacy and education on
contribution of the company, which does not Sundanese cultural diversity.
only focus on the work area but can contribute d. XL Axiata Baik Cianjur, August 2023, XL
more to the country. Management also wants to Axiata employees distributed assistance
create a culture of employees to care about the in the form of basic necessities for the
Pangeran Hidayatullah social welfare
surrounding environment and hopes that this
program can inspire and create domino effects institution, assistance in optimizing
XL Axiata is committed to implementing Good Corporate
for other good things that are beneficial, both learning facilities, renovation assistance Governance (GCG) consistently and sustainably as well as with
internally and externally. for Rumah Tahfidz Baitul Qur’an Al Karim,
to basic food assistance for the elderly
quality in every aspect of the Company’s operational business
The four pillars of activities carried by XL Axiata and compensation for orphans around activities. The implementation of GCG practices helps XL Axiata in
Baik are: Lampegan Station.
1) Donate cash or non-cash e. XL Axiata Baik Citorek, September detecting potential business risks and taking mitigation measures,
2) Healing, entertaining activities 2023, XL Axiata’s Chief Human Capital as well as ensuring the Company’s prudent management. XL Axiata
3) Sharing, sharing knowledge based on Officer, Hira Kurnia led dozens of XL
employee expertise or hobbies Axiata employees who were members believes that practicing GCG not only ensures compliance with
4) Environment, activities to clean the of the Bikers of XL Axiata and MTXL to regulations and ethical standards, but also fosters transparency
surrounding environment including places distribute cash assistance to the Zaenatul
of worship Muta’alimin Islamic Boarding School. and accountability within the organization.
f. XL Axiata Baik Tangerang, Banten,
Until 2023, XL Axiata Baik has implemented the November 2023, XL Axiata employees
following programs: conducted teaching activities at SMK
Jaya Buana in addition to providing
a. XL Axiata Baik in Luwuk, February 2023. XL cash, wifi, learning devices and free data
Axiata also implemented the XL Axiata Baik packages for a year. By adhering to GCG principles, XL Axiata’s sustainability Due to all these implementations,
program at SMK Negeri 1 Luwuk and Yayasan g. XL Axiata Baik, December 2023, XL the company strives to build implementation has been running in 2023 XL Axiata did not find any
Pesantren Alkhairaat. On this occasion, Axiata’s Chief Human Capital Officer, trust with stakeholders, including in accordance with the principles incidents of significant violations
employees taught to SMK Negeri 1 Luwuk Hira Kurnia led dozens of XL Axiata customers, employees, and of good corporate governance. committed by the Company and
which was carried out since February 2023 employees who are members of the
shareholders. This commitment XL Axiata has various policies to management, be it incidents
and monitored for 1 month until March 2023. Bikers of XL Axiata and MTXL to hold a
to upholding GCG is reflected in regulate the Company’s business of corruption, or incidents of
The materials given to students at SMKN 1 series of activities in the form of donating
include healthy internet, content writers for supporting facilities for teaching and the company’s decision-making operations, such as anti- violations of compliance with
blogs and how to make interesting photos. learning activities at SLB C Yayasan processes, risk management corruption policy, gratification applicable legislation.
b. XL Axiata Baik in Kalimantan, April 2023, Karya Bakti, to teaching activities at strategies, and overall business policy, money laundry policy,
Teaching activities, providing cash and SLB C Nusantara Kita, Garut. In addition, conduct. Furthermore, XL Axiata code of ethics, and others. In
routers were carried out at Haruniyah the group of XL Axiata employees also aims to continuously improve addition, XL Axiata has also
Pontianak High School. provided compensation for the homeless its GCG framework to adapt to implemented a reporting system
c. XL Axiata Baik was conducted at Saung community and the poor around the evolving industry dynamics and through whistleblowing system
Angklung Udjo, Bandung, West Java, June Raudhatul Faizin Mosque, Jonggol best practices. and implemented ISO 37001:
2023, distributing a number of donations District, Bogor Regency. 2016 for anti-bribery.
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
PRODUCTS AND CUSTOMERS
PRODUCTS AND CUSTOMERS PERFORMANCE
PERFORMANCE
XL Axiata Customer Service Center (call center) provides integrated
customer service by providing various customer service channels,
such as:
› More than 600 customer service officers consisting of call
centers, XL Center and XL Care that are ready to respond to
customer needs 24 hours a day, 7 days a week.
5 Call Center touch points:
- 817 via Nomor XL (Customer Regular)
- (021) 57959817 via Nomor Non XL
- 818 via Nomor XL (Customer Prioritas)
- 820 via Nomor XL (Customer Home)
- 08170123442 via Nomor non XL (Customer Home)
12 customer messaging service and contact customer service
through digital touch points:
- Livechat via MyXL App
- Livechat Prioritas via MyXL Prioritas apps
- Livechat via web xl.co.id
XL Axiata considers consumers to be its stakeholders, and recognizes - Social Media via Facebook (@myxlcare)
their influence on the Company’s business continuity in the future. -
-
Correspondence via email Customerservice@xl.co.id
Livechat via Axisnet App
This significant role of consumers drives XL Axiata to make utmost - Livechat via Axis web axis.co,id
- Livechat via MyXL Home App
efforts in providing the best products and services. - Social media via Facebook @Xlhomeid (XL Satu)
- Correspondence via email to xlhomecs@xl.co.id (XL Satu)
- Messenger via Whatsapp 08170010820 (XL Satu)
To fulfill its commitment to product quality and 5. Realizing investment in the development of - Livechat via web xlaxiata.co.id
customer service, XL Axiata always maintains main and supporting infrastructure and running
› Visit to 96 XL Centers spread throughout Indonesia.
compliance with customer data privacy regulations. product development programs according to
The Company has implemented ISO 27001 for the development of information technology. Handling of customer complaints is carried out in accordance with
Information Security Management System (ISMS). In 6. Provide customer service facilities and resolve the Standard Operation Procedure for Handling Customer Service
addition, XL Axiata also has a strategy to achieve all customer complaints. Complaints based on the Company’s Customer Priorities.
customer satisfaction through the following ways: 7. Conduct regular customer satisfaction surveys
1. Provide products that are safe and meet as a means of quality improvement.
applicable standards and regulations, including
compliance with ICNIRP (International XL Axiata has identified five key elements to deliver
Commission on Non-Ionising Radio Protection) quality customer service, which include: 1. Integrated Customer Service 2. Customer Experience & Service Operation
rules. 1. Providing a Call center through Integrated XL Axiata has a designated team, the Service Center (CE & SOC)
2. Establish intensive relationships through Customer Service Management Directorate, that focuses on customer XL Axiata has established a Customer
marketing communications and direct service 2. Building Customer Experience & Service service. This Directorate includes a Customer Experience & Service Operation Center
media with customers. Operation Center (CE & SOC) Service Center (call center) that operates 24/7, (CE & SOC) to enhance customers’ positive
3. Provide clear product information and guarantee 3. Maintaining Customer Privacy providing customers and potential customers with experience. Through CE & SOC, XL Axiata
consumer protection of customer data privacy. 4. Conducting customer satisfaction surveys a means to contact the Company for information ensures customers receive the best possible
4. Provide understanding to potential customers 5. Providing appreciation to customers about its products and services or to file complaints. experience when resolving issues, as it closely
and customers about matters related to The Customer Service Center handles all incoming monitors the quality of service provided in
products. calls and ensures that customers’ concerns are addressing customer concerns.
addressed promptly with effective solutions.
276 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 277
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SUSTAINABILITY REPORT Fast-Tracking with Agility, & Resilience
PRODUCTS AND CUSTOMERS PERFORMANCE PRODUCTS AND CUSTOMERS PERFORMANCE
NO CE & SOC FUNCTION ADVANTAGES OF CE & SOC Public Complaint Reports based on complaint topic
1. Become an integrated service quality monitoring center. Built with network elements consisting of RESOLVED IN PROCESS UNRESOLVED
For this reason, the Company developed an integrated hundreds of thousands of alarms powered by COMPLAINT TOPIC TOTAL
TOTAL % TOTAL % TOTAL %
monitoring room for 4 NOCs (Network Operation Centers), machines, rather than manually, thus successfully
namely: Telco Network, IT Infrastructure, IT apps, and Billing. increasing the speed and accuracy of services. Internet Mobile 328,609 99.94 % 213 0.06 % 0 0 328,822
2. Facilitate coordination in overcoming potential problems Can anticipate future needs, especially regarding Charging 183,620 99.81 % 355 0.19 % 0 0 183,975
related to network performance and service quality. network development plans and the adoption of RegistrasiR 138,767 99.92 % 112 0.08 % 0 0 138,879
the latest technology. Others 530,143 99.96 % 202 0.04 % 0 0 530,345
3. Monitoring the dynamics of services, including the use of - Total 1,181,139 99.93 % 882 0.07 % 0 0 1,182,021
service facilities by customers.
To measure Customer Service (CS) performance, XL Axiata takes measurements using criteria set by the 3. Customer Privacy telecommunications service experience in
KOMINFO Standards as shown in the following table: XL Axiata upholds customer data privacy and Indonesia. Secondly, by fostering a culture
security by implementing the ISO 27001 standard that consistently prioritizes customer
SERVICE PERFORMANCE PARAMETER KOMINFO STANDAR 2023 2022 2021 for the Information Security Management satisfaction. Thirdly, by presenting special
System (ISMS). This certification attests to the offers as a token of appreciation on
Customer Complaint Percentage of customer >95% 98.99 99.41 99.55
Handling Standards complaint management Company’s capability to plan, manage, evaluate, Customer Day. Fourthly, by offering direct
and enhance measures to safeguard customer service from the board of directors and
Standard Service Number of service <20 0.6 0.6 1.0
data and information. XL Axiata’s commitment to representatives at various XL Center outlets.
Interruption Report interruption reports per 1000
customers
complying with customer privacy regulations has
yielded positive outcomes, with no complaints XL Axiata is committed to delivering the best
reported regarding customer privacy violations. possible digital experience to customers by
According to the table above, the percentage of general customer complaints responded to in 2023 was implementing various Customer Experience
recorded at 98.99%, a decrease from 2022, which reached 99.41%. This indicates that XL Axiata continues 4. Customer Satisfaction Survey (CX) initiatives. These initiatives include
to be committed to providing the best response to customer issues. Furthermore, the number of service To understand customer satisfaction levels with collecting real-time feedback from customers
disruption reports per 1,000 customers in 2023 remained the same as in 2022, at 0.6. the products and services offered and to gather through the Net Promoter Score, which
feedback for improvements, the Company measures customer loyalty, and soliciting
In addition, XL Axiata also monitors public complaint reports to improve services. regularly conducts customer satisfaction surveys. feedback to develop innovative solutions that
These surveys are carried out by collecting address customer needs.
Public Complaint Reports based on report status information on product quality, identifying
2023 2022 2021 factors that drive customer satisfaction, and XL Axiata leverages customer feedback to
REPORT STATUS customer experience through the Net Promoter fuel its innovation efforts aimed at enhancing
TOTAL PERCENTAGE TOTAL PERCENTAGE TOTAL PERCENTAGE
Survey (NPS), which is conducted monthly to customer satisfaction and experience. The
Resolved 1,181,139 99.93 % 1,808,086 100.00 % 2,673,700 100.00 %
measure customer experience and customer outcome of this innovation drive is evident in
In Process 882 0.07 % 0 0% 0 0% perceptions of the XL Axiata brand. the myXL and AXISNet applications, which
Unresolved 0 0 0 0 0 0 offer customers practical solutions such as a
Total 1,182,021 100.00 % 1,808,086 100.00 % 2,673,700 100.00 % 5. Customer Appreciation quick fix for network problems and an easy-to-
Dalam menjalin hubungan dan komunikasi use feature for finding internet packages that
yang baik dengan konsumen/pelanggan, XL align with their preferences. XL PRIORITAS
Public Complaint Reports based on complaint mechanism Axiata menyelenggarakan program apresiasi customers can also lock bills for services
2023 2022 2021 atas loyalitas pelanggan. Selama tahun 2023, they do not require, while AXIS customers
REPORT
MECHANISM TOTAL PERCENTAGE TOTAL PERCENTAGE TOTAL PERCENTAGE
kegiatan yang diselenggarakan XL Axiata untuk can protect their credit through the credit
mengapresiasi konsumen/pelanggan adalah lock feature. These features are a concrete
WBS N/A N/A N/A N/A N/A N/A
sebagai berikut: reflection of XL Axiata’s execution of Customer
Email 274,835 23.25 % 281,204 15.55 % 294,887 11.03 % Experience (CX).
Telepon (hotline), 907,186 76.75 % 1,526,882 84.45 % 2,378,813 88.97 % a. XL Axiata reinforces its commitment to
digital, walk in prioritize customer satisfaction through XL Axiata has introduced “Xcel from the
Total 1,182,021 100.00 % 1,808,086 100.00 % 2,673,700 100.00 % several established programs. Firstly, by Hearth” as a pledge and assurance to its
introducing Customer Experience (CX) customers, which also reflects the company’s
Initiatives aimed at providing the best digital goal of becoming the leading convergence
278 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 279
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PRODUCTS AND CUSTOMERS PERFORMANCE PRODUCTS AND CUSTOMERS PERFORMANCE
operator in Indonesia. “Xcel from the Hearth” b. On National Customer Day, the Premium
is a tangible expression of XL Axiata’s team grants a quota bonus reward that can AXIS PROMO PROMO XL SATU
vision, and it requires every employee to be redeemed in the application.
be transparent, compassionate, grateful for
all feedback, and attentive to their duties. c. Gifts/Merchandise given to Priority For AXIS services, here are the birthday promo options In celebration of XL Axiata’s 27th anniversary, XL
that AXIS customers can choose from: SATU is offering a special VALUE package promo
This commitment implies that XL Axiata customers who visit XL Center during
› Teng-go Youtube Package 7 Hours, Special Price for new XL SATU customers.
will persist in innovating to deliver the National Customer Day. of Rp 2,700 for the first 8,000 transactions on the
finest service. AXISNET app on October 8. By subscribing via satu.xl.co.id 259k per month
d. Package price discounts to customers › Warnet Unlimited 7Jam, Special Price of Rp 2,700 (discounted from the normal price of 304k per
for the first 8,000 transactions on the AXISNET month), customers will get:
During Customer Day, several Directors on special days (example: XL Birthday,
app on October 8th › Unlimited super-fast home WiFi up to 75Mbps
and management representatives from XL Ramadhan Program, and End of Year). › Buy packages with main quota (Bronet, Suka-Suka, (bonus speed booster from normal speed up to
Axiata visited various XL Center outlets OWSEM min 7hr) on AXISNET and use promo 30Mbps) for the first 6 months
to greet customers and provide both in- e. Celebrating 27 years of XL Axiata’s work for code ULTAHXLAXIS27, get 2.7GB Tiktok Quota › Shared HP quota for XL and PRIORITAS number
Bonus valid for 27 hours, limited to first 8,000
person and virtual services to families. At XL Indonesia #JadiLebihBaik, XL Axiata spreads users of 8GB
transactions on October 8.
Center Ciputra World Jakarta, the Director various bonuses and promos for all loyal › Free installation fee
› Up to 2.7GB bonus valid for 27 hours by purchasing a
› This promo is valid from October 8, 2023 to
and Chief Commercial Officer of XL Axiata, customer segments. This special program package on the AXISNET Hanya Untukmu app with
October 31, 2023.
David Arcelus Oses, was accompanied by applies to XL Prepaid, XL PRIORITAS, AXIS, XL a minimum of Rp 27,000 for selected customers
from October 8 - 10
Junius Khoestadi, the Group Head of Indirect SATU Fiber, and XL Axiata Business Solutions Also enjoy the Pay Direct Extra Profit promo
Channel Management, Retno Wulan, the services. Customers can get attractive Data package promotions on online sales channels for a discount of 281k in selected cities, where
Group Head of Customer Contact Center, promos and bonuses during October 2023 such as Tokopedia, shopee, blibli, Gojek-Gopay, OVO, customers pay 3 months in advance to subscribe
Grab, Dana (October 6 - 8). to XL SATU Fiber for 4 months. Other Pay Direct
and Muhamad Novan Adilandy, the Group through myXL application, AXISNet, and
› AXIS Bronet 24 Hours 5GB 60 days for 54,900 Extra Profit promo packages are also available. For
Head of Direct Channel Management. XL sales channels such as Tokopedia, Shopee, more information, contact our Customer Service at
discounted to 46,900
Axiata management representatives also blibli, Dana, OVO, Grab, Gojek and Gopay 820 (XL number) and 08170123442 (all operators).
visited other XL Center outlets besides For those who don’t have an AXIS number yet, also
Jakarta to serve customers directly. Below is a selection of 27th anniversary get the following AXIS starter pack and eSIM promos:
› Purchase eSIM via axis.co.id website get 27% Gopay
promos that customers can choose from:
cashback up to 27k (October 8 - 10)
XL PRIORITAS PROMO PROMO XL AXIATA BUSINESS
XL PREPAID PROMO SOLUTIONS
Celebrating XL Axiata’s 27th anniversary, XL
PRIORITAS provides various special promos that
For XL prepaid customers, there are several Data package promotions on online sales channels XL Axiata Business Solutions, a part of XL Axiata
can be enjoyed by customers:
attractive XL Axiata birthday promos available in such as Tokopedia, shopee, blibli, Gojek-Gopay, that focuses on providing integrated ICT solutions
the form of : OVO, Grab, Dana (October 6 - 8). › Special on October 8, 2023, there is an 8GB for corporations and SMEs, also offers a special XL
› Xtra Combo Flex XL 15GB + up to 30GB area Youtube Quota Bonus for 3 days that can be Axiata anniversary promo for customers.
Data package promo on myXL app (October 8 - 10): quota and flex bonus for 93k discounted to 85k claimed by all XL PRIORITAS customers through
› Special Anniversary Package 2.7GB valid for 27 › Xtra Combo Flex XL 60GB + up to 120GB area myXL application. › Rp 27 million discount for the purchase of 27TB
hours + choice of MAP/Tokopedia/GoFood/ quota and flex bonus for 156k discounted to › Enjoy Upgrade Plan Discount up to 30% for 6 Digital Reward until October 31, 2023.
MCD vouchers starting from Rp2,700, 1x 129k months + Extra Quota 8GB for 30 days, special
purchase/customer for customers who upgrade their plan on myXL › Get the opportunity to get a free 27 extender
› Get up to 2.7GB bonus valid for 27 hours by For those who don’t have an XL number yet, also app from October 8-15, 2023. for the purchase of XL SATU BIZ Bundling Open
purchasing the package on myXL Special For get the following XL starter pack and eSIM promos: › For new customers, Get Exclusive Merchandise WiFi until October 31, 2023.
You with minimum Rp27,000 for selected › Purchase eSIM through xl.co.id website get 27% by registering PRIORITAS starting from Gold
customers Gopay cashback up to 27k (October 8 - 10) plan and above on October 8-15, 2023.
› Special Happy Hour Quota starting from › 27% discount for starter packs at XL official Registration can be done at XL Center, website
Rp1,000s stores Tokopedia, Shopee, and Blibli from prioritas.xl.co.id, via whatsapp XL PRIORITAS
› Social Media & Streaming Quota Flash Sale (October 3 - 15) 0818-800-055, or XL PRIORITAS official store
at Shopee and Tokopedia.
› For selected customers, enjoy 2-day 3GB
YouTube Quota Bonus by purchasing PRIO
Booster on myXL Special for You app on
October 8, 2023.
280 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 281
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
The public has once
again recognised XL
Axiata’s performance in
developing its business
and services by awarding
the prestigious SPEx2
Award 2023 in the
category of The Best
SPEx2 Company in the
Te l e co m m u n i c a t i o n
Industry. SPEX Awards
2023 recognises
businesses who have
successfully adopted
digital transformation
initiatives that benefit
customers, employees,
and shareholders. XL
Axiata is the only operator
to have received this
CORPORATE
prestigious award.
DATA
282 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 283
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
CORPORATE COMPANY
INFORMATION BRANDING
PT XL Axiata Tbk (formerly PT Excelcomindo Pratama, and
NAME OF COMPANY
PT Grahametropolitan Lestari)
DATE OF
1989
PRISM PHILOSOPHY:
ESTABLISHMENT This logo is called the prism, adopted from Axiata Group. It
portrays the rich heritage and cultural diversity which is true
Telecommunications services and/or telecommunications
CORE BUSINESS for Indonesia and displays the vibrant energy of the company
networks and/or multimedia services
and the country.
Axiata Investments (Indonesia) Sdn. Bhd - 66.25%
OWNERSHIP Saham Treasuri - 0.43%
Publik - 33.32%
TICK CODE EXCL
EXCHANGE Indonesia Stock Exchange
Legal Basis of Establishment
Deed of establishment No. 55 dated October 6, 1989, as
amended by Deed No. 79 dated January 17, 1991, both of
LEGAL BASIS OF
which were drawn up before Rachmat Santoso, S.H., Notary
in Jakarta, and have been ratified by the Minister of Justice
of the Republic of Indonesia by virtue of his Decree No. C2-
ASSOCIATIONS
ESTABLISHMENT 515. HT.01.01.TH.91 dated February 19, 1991, and registered in
Company Register maintained by the Registry Office of South
Jakarta District court under No. 670/Not/1991/PN.JKT.SEL and
MEMBERSHIPS
No. 671/Not/1991/PN.JKT.SEL, both dated August 21, 1991, and
published in the State Gazette of the Republic of Indonesia
No. 90 dated November 8, 1991, Supplement No. 4070. NO ORGANISATION COMPANY’S ROLE AND CONTRIBUTION
XL Axiata Tower 1 Global Mobile Suppliers Association (GSA) Member
ADDRESS
Jl. H.R. Rasuna Said X5 Kavling 11-12 Kuningan Timur, Setiabudi,
2 Submarine Cable Association (ASKALSI) Supervisory Board; Inter-Institutional Relationship,
Jakarta Selatan, 12950 Indonesia Training; Event & Certification; Legal & Regulatory;
Restoration & Facility Management; Member
+62215761881,
PHONE NUMBER
+62215761880 3 Indonesia Service Dialogue (ISD Council) Member
EMAIL corpsec@xl.co.id 4 Association of Indonesian Telecommunications Supervisory Board; Secretary General; Member
Operator (ATSI)
WEBSITE https://www.xlaxiata.co.id/
5 Indonesian Telematics Society (MASTEL) Members & Management
XL Axiata Tbk
6 Telecommunications Interconnection Clearing Supervisory Board; Member
XLAxiataTbk Association (ASKITEL)
SOCIAL MEDIA
xlaxiata_tbk 7 Kamar Dagang dan Industri Indonesia (KADIN Pusat) Member
PT XL Axiata Tbk 8 Kamar Dagang dan Industri Indonesia (KADIN DKI Member
Jakarta)
9 Asosiasi Penyelenggara Jasa Internet Indonesia (APJII) Member
10 Metro Ethernet Forum (MEF) Member
11 Indonesian Corporate Secretary Association (ICSA) Member
12 Dewan TIK Nasional (Wantiknas) Advisory Team Member
13 KADIN NET ZERO Hub Member
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
INVITATION FOR
INVITATION FOR THE ANNUAL GMS
THE ANNUAL GMS
AGENDA OF MEETING
ANNUAL GENERAL
The Board of Directors of the Company submits the following matters
MEETING OF to be discussed and obtain approval from the Company’s Shareholders:
SHAREHOLDERS
DISCLAIMER: Information regarding the Meeting Agenda in this Annual
PT XL AXIATA TBK Report is subject to change at any time.
(THE “COMPANY”)
Information about the Meeting Agenda may refer to the Meeting
Invitation announced by the Company.
Pursuant to Article 17 Financial Services Authority 1. Approval on the Company’s Annual Report including the Board
Regulation (“OJK”) No. 15/POJK.04/2020 dated of Commissioners’ Supervisory Report as well as Ratification of
20 April 2020 on the Plan and Implementation of the Company’s Financial Statement for the Fiscal Year Ended on
General Meeting of Shareholders of Public Company 31 December 2023, and Granting of Full Release and Discharge
(“POJK 15/2020”) and Article 10 paragraph (3) (volledig acquit et de charge) to all members of the Board of
of the Company’s Articles of Association, The Directors and the Board of Commissioners from the Management
Board of Directors of the Company hereby invites and Supervisory Actions Carried Out for the Fiscal Year of 2023;
all Shareholders of the Company to the Annual
General Meeting of Shareholders which will be held 2. Approval on the Allocation of the Company’s Net Profit for Fiscal
on Friday, 3rd May 2024 at 08.00 a.m. - finished, at Year Ended on 31 December 2023;
XL Axiata Tower Jl. H.R Rasuna Said X5 Kav. 11-12
Kuningan Timur, Setiabudi, South Jakarta 12950 (the 3. Appointment of Accounting Firm and/or Public Accountant to
“Meeting”). Perform Audit on the Company’s Financial Statement for Fiscal
Year ended on 31 December 2024 and Other Financial Statement
All Shareholders may attend the Meeting through Audit as Required by the Company;
e-RUPS (“eASY.KSEI”) or e-Proxy & e-Voting
system provided by PT Kustodian Sentral Efek 4. Determination of Remuneration for Members of the Board of
Indonesia through https://akses.ksei.co.id/ which will Directors and/or Board of Commissioners for 2024;
be available for the Shareholders on the Invitation
Meeting date. The electronic meeting planned by 5. Reappointment and approval of the change to the Board of
the Company will provide efficiency for all of the Directors and Board Commissioners composition of the Company;
Company’s Shareholders to be able to participate in
the Meeting. 6. Accountability Report on The Realization of The Use of Proceeds of
Capital Increase with Rights Issue III of PT XL Axiata Tbk Year 2022.
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2023 EVENT HIGHLIGHTS
Jakarta, 2 January 2023 Jakarta, 12 January 2023 Jakarta, 13 January 2023
XL Axiata launched the “Full Year Double Quota Bonus” promotion for the XL Xtra G20 EMPOWER was successful in bringing XL Axiata Business Solutions, an integrated
Combo Flex Starter Pack in early 2023 which can only be purchased and activated women’s issues and gender equality to ICT service provider, supports PT VALE
in January 2023. Offered as the best choice, this promotion is suitable for new the G20 summit during the Indonesian Indonesia achieve industry 4.0 by deploying
JANUARY 2023
customers in 2023. Presidency in 2022. At its peak, the topic was intelligent mining using private network
also successfully incorporated into the G20 and IoT technology at the mine site.
Leaders’ Declaration during the Indonesian Industry 4.0 automation across all lines and
Jakarta, 3 January 2023 Presidency. The Ministry of Women’s interconnectedness requires a strong network
Empowerment and Child Protection (KPPPA) infrastructure. This contribution supports XL
XL Axiata was able to manage and maintain an increase of consumer data needs of the Republic of Indonesia awarded and Axiata’s vision of becoming Indonesia’s leading
during Christmas and New Year 2023. Observation between 24 December 2022 appreciated all G20 EMPOWER Indonesia convergence operator and a digital enabler for
and 2 January 2023 indicated that service traffic increased by 8% compared to stakeholders who contributed for their enterprises and society, “XL Axiata Ada Untuk
usual days and 29% compared to the prior Christmas and New Year period. On success in elevating the topic of women and Indonesia”.
New Year’s Eve, service traffic was 50% higher than usual. gender equality.
Jakarta, 18 January 2023
Belitung, 4 January 2023 Padang, 12 January 2023
Granting Pre-emptive Rights III (“PMHMETD III”)
The Regent of Belitung, H Sahani Saleh, S.Sos, and the Vice Regent, Isyak Meirobie, In partnership with Andalas University (Unand) or right issue on schedule and raising Rp5 trillion
awarded XL Axiata for its support and collaboration with the Belitung Regency Padang, XL Axiata trained 1,200 graduates to concluded the successful Capital Increase
Government in the success of the G-20 Development Ministerial Meeting (DMM) be more equipped for the workplace. They process for XL Axiata. XL Axiata achieved the
global event, 7-9 September 2022, and the World Ocean Assessment (WOA), 12- were introduced to varied information and skills right issue’s initial purpose of strengthening
15 December 2022 in Belitung. The Regent of Belitung, H Sahani Saleh, S.Sos, that they may employ after graduating from the company’s capital structure by paying off
presented the “Best International Event Collaboration Category” award to XL Axiata’s college and beginning their careers through obligations. With prompt fulfilment of this right
representative, Belitung Territory Sales Manager, Sinta Dewi Sujana, at the Satam the XL Axiata Future Leaders (XLFL) program. issue, XL Axiata is able to settle its debts earlier
Belitung Roundabout. The workshop event, which began with a in December 2022 and by early January 2023.
welcome speech by Vice Rector 1 Unand, Prof.
Dr. Mansyurdin, MS, took place at Convention
Jakarta, 7 January 2023 Hall of Andalas University, Padang.
XL Axiata expands its “Sisternet” program benefits for Indonesian women. One of
the initiatives is to continue to promote digital literacy among female owners and
managers of micro, small, and medium enterprises (MSMEs) across Indonesia. The
utilisation of digital facilities and technology will help empower, productive, and
“move up” women MSMEs. Organising the 2023 Being Smart Competition is one
strategy to foster an increase in digital literacy.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Jakarta, 20 January 2023 Jakarta, 2 February 2023
XL Axiata switched customer service USSD Menu Browser (UMB) access from *123# to
XL Axiata launches a new XL SATU bundle deal starting at Rp276 thousand per
*808#. This UMB update takes effect 1 February 2023. XL Axiata continues to socialise
month. This promotion is designed to be the best option for new customers who
its customers between 1 February to 1 April 2023, using various channels as UMB users
wish to explore the home and mobile internet convergence service. This attractive
are still substantial. This migration refers to Ministerial Regulation (PM Kominfo) No. 5 of
offer is valid until 28 February 2023 and has been accessible from 9 January 2023.
2021, which requires customer service USSD access via USSD *8XY#.
Balikpapan, 22 January 2023 Sidoarjo, 4 February 2023
XL Axiata develops telecommunications and data networks to serve the peak
To provide an excellent customer experience, XL Axiata continues to expand its
FEBRUARY 2023
agenda of the 1st Century Nahdlatul Ulama (NU) grand celebration at Delta Sidoarjo
network and improve the quality of data services throughout Kalimantan’s five
Stadium on Tuesday, 7 February 2023. XL Axiata has the network capacity in
provinces. This strategic action is required considering the increasing demand of
Sidoarjo Regency and its surrounds to accommodate millions of nahdliyin residents
communities for data services from XL Axiata, with XL Axiata’s traffic throughout
from across Indonesia for this celebration. NU’s 1st Century commemoration at
Kalimantan increasing by 29% in a year. XL Axiata added more than 1,100 4G BTS in
Delta Sidoarjo Stadium will be attended by Indonesian President Joko Widodo.
Kalimantan in the same year, reflecting a 42% YoY increase.
Pontianak, 10 February 2023
Banyuasin, 24 January 2023 XL Axiata keeps improving its Kalimantan 4G network. Rural and border areas
undergo network expansion. XL Axiata has added 1,100 4G BTS in Kalimantan
XL Axiata supports Banyuasin Regency stunting prevention programs, by providing
last year, a 42% YoY increase. Over 50% of XL Axiata BTS are currently fiberized.
healthy meal packets distributed to children to prevent stunting. In Talang Lubuk
Over 9,300 kilometres of fibre optic connections bolster XL Axiata’s Kalimantan
Village, Sumber Marga Telang District, Banyuasin Regency, XL Axiata Territory
network. XL Axiata’s infrastructure network connects Sumatra, Java, Bali, Lombok,
Sales Manager Hendra Salman personally handed over the humanitarian package,
and Sulawesi with a fibre optic route that spans five Kalimantan provinces
which includes rice, green beans, eggs, frying oil, sugar, and more.
Jakarta, 14 February 2023
Medan, 26 January 2023 Yessie D Yosetya, Director & Chief Digital Transformation & Enterprise Business
Officer of XL Axiata, was named CIO100 ASEAN 2022. This award is granted
To commemorate World Cancer Day, XL Axiata conducts blood donation as a
to the 100 top ASEAN technology leaders who are capable of bringing about
regular activity. Partnered with Medan journalist community, who also participated
improvements via the use of technology. Yessie is seen as competent of directing
as donors, the event took place at Grha XL Medan. The proceeds from this social
XL Axiata’s development and implementation of corporate strategies for developing
activity will then be contributed to the Medan Children’s Oncology.
and using information technology for digitalisation. The award’s ceremony was
held on December 2022 at Marina Bay Sands in Singapore.
Pidie, 30 January 2023
Jakarta, 15 February 2023
Donations for flood victims were distributed by XL Axiata in Pidie Regency, Aceh
XL Axiata launched a latest product of a long-term double quota bonus in early
Province, which include essential daily supplies such as rice, eggs, cooking oil, fish,
2023. Customers who buy and activate XL starte r packs beginning in January 2023
bottled drinking water, instant noodles, disposable baby diapers, and other items.
will be eligible for a double quota bonus each time they top up a data package for
Jaka Rahmatsyah, XL Axiata Territory Sales Manager for the Banda Aceh area,
an entire year.
personally handed over the donations to Muhajir, the Secretary of Cot Teungoh
Village in Pidie District, who represented the local victims.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Medan, 17 February 2023 Jakarta, 23 February 2023 Jakarta, 1 March 2023
XL Axiata continues to strengthen its 4G To achieve sustainable business, XL A Memorandum of Understanding (MoU) was signed between XL Axiata and Cisco
network in the Lake Toba Area of North Axiata continues to employ Environment, to prepare 5G networks and cloud infrastructure for IoT solutions. The partnership
Sumatra in response to the growing number Social, and Governance (ESG) principles will improve XL Axiata’s network capabilities by leveraging end-to-end automation
of international events held on Indonesia’s in all lines of business. One of them is the and optical networks to support companies in transforming existing networks into
largest lake, such as F1 Powerboat World adoption of environmental aspects into 5G-ready networks, while also strengthening Internet of Things (IoT) connectivity
Championship (F1 H20), which takes place network infrastructure, particularly the Base services.
on 24-26 February 2023. XL Axiata’s Transceiver Station (BTS), which can also
4G network has reached 489 villages lower energy use by up to 50%. Since 2014,
and 35 districts in Simalungun Regency, XL Axiata has been implementing Green BTS,
Jakarta, 2 March 2023
Toba Samosir Regency, North Tapanuli which now covers more than 90% of BTS. XL Axiata established a partnership with PT Indonesia Comnets Plus (PLN Icon
Regency, Humbang Hasunduta Regency, Since the end of 2022, XL Axiata has also Plus) at the Mobile World Congress 2023 arena in Barcelona. This collaboration is
Dairi Regency, Karo Regency, and Samosir begun to use lithium batteries as a generator part of efforts to improve services to customers and the community, accelerate,
MARCH 2023
Regency, including Samosir Island. Around substitute. and expand access to services including the adoption of new technologies such
430 4G BTS serve customers in these as 5G, Internet of Things (IoT), and digitalisation that can drive the local economy.
areas. XL Axiata specifically deployed two Faster, more efficient, and more precisely targeted infrastructure and technological
mobile BTS units.
Jakarta, 27 February 2023 solutions are now available to both XL Axiata and PLN Icon Plus as a result of this
XL Axiata supports the government in partnership.
stunting prevention programs to remote
Sanggatta, 21 February 2023 areas, by distributing stunting prevention
XL Axiata Business Solutions collaborates healthy food packages for mothers and
Barcelona, 3 March 2023
with PT Pamapersada Nusantara (PAMA), to children, such as rice, green beans, eggs, The mobile analytics industry has recognised XL Axiata’s efforts in providing the
provide a Hybrid LTE Network and the use of cooking oil, and sugar. The team Benihbaik. best customer experience. XL Axiata was declared successful in four categories
CPE (Customer Premises Equipment) devices com distributed the stunting prevention food in the December 2022 Opensignal Report in December 2022. Dian Siswarini,
for coal mining fleets in Sangatta, East packages to a number of target areas spread President Director & CEO of XL Axiata, received a trophy of appreciation for this
Kutai Regency, East Kalimantan Province. across four provinces. The distribution takes success from Opensignal CEO, Dave Isenberg, on the sidelines of the Mobile World
As a Preferred Integrated ICT Provider, XL place between January – February 2023. Congress 2023 event in Barcelona, Spain.
Axiata Business Solutions deploys the first This program is a tangible engagement of
LTE Hybrid Network in an open pit mine in XL Axiata on social issues that occur in the
Indonesia. XL Axiata provides both a private community
Mataram, 3 March 2023
network and a public internet network. In preparation for the 3-5 March 2023 World Superbike (WSBK) event at the
EWACSPRO is the private network that Mandalika Circuit in the West Lombok Regency of West Nusa Tenggara (NTB), XL
supports critical applications, combined with Axiata ensures that the 4G network in Lombok is in excellent form. At least 12 4G
a public network that supports employee BTS have been prepared to cover the entire Mandalika, including the circuit and
communication needs. surrounding areas with dozens of major and small hotels, restaurants, beaches, and
other tourism supports. XL Axiata also supplies a 5G network around the circuit
area by utilising dynamic spectrum sharing (DSS) and alerting three mobile BTS
units to anticipate traffic spikes during the world racing event.
Jakarta, 8 March 2023
Budi Pramantika’s resignation as Director & Chief Financial Officer (CFO) on 6
March 2023 was accepted by the Company. After serving as Finance Director since
October 2020, Budi Pramantika has resigned as Director due to personal reasons.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
technical skills such as storytelling, which
Jakarta, 8 March 2023 Luwuk, 17 March 2023
corresponds to the hobby of women who
XL A number of opportunities identified by XL XL Axiata continues to support the fond to tell stories. XL Axiata’s current trait
Axiata have the potential to spur business growth government’s vision of accelerating national and commitment to gender equality is also a
in 2023. Consequently, XL Axiata will focus growth in Indonesia through equitable result of XL Axiata’s participation in the G20
on three growth pillars: convergence services, distribution of telecommunications and data Empowerment and Progression of Women’s
network expansion, and strengthening customer network infrastructure. XL Axiata has spent Economic Representation (Empower)
experience. For this year target, XL Axiata strives the last two years extensively building a international forum.
to achieve mid to high single digit revenue growth, 4G network, particularly on Sulawesi Island,
EBITDA margin of around 49%, and capex of with the addition of over 2,700 4G BTS to
around Rp8 trillion. previously unreachable distant rural locations.
Palembang, 21 March 2023
Around 645 of the total sub-districts in XL Axiata provided assistance to flood victims
Sulawesi have been served by 4G networks. in Lahat and West Lampung Regencies.
Jakarta, 11 March 2023 People in flood-affected areas urgently
Yessie D. Yosetya, Director & Chief Digital require assistance in the form of basic daily
Transformation & Business Enterprise of XL Axiata,
Luwuk, 17 March 2023 essentials such as rice, cooking oil, tea, sugar,
was named The Most Influential CIO 2023 at the Dian Siswarini, President Director & CEO of XL instant noodles, and soy sauce.
iCIO Awards 2023 in Jakarta. The honour was Axiata, inaugurated the mosque construction
received as a result of the jury’s valuation that she project and its supporting facilities in Banggai
was among the CIOs who successfully became an Regency, Central Sulawesi. The mosque
Jakarta, 24 March 2023
innovator in the adoption and utilisation of digital construction project is ready to use and is Welcoming the month of Ramadan and Eid
technology that aim to enhance value and best located in Luwuk Village, Luwuk District. al-Fitr this year, XL Axiata presents eSIM and
performance in alignment with business objectives. This project was completed in December various attractive offers in almost all service
2022 with funds provided by XL Axiata products with the theme #AdaUntukKebaikan.
management and employees. One of them is a promo offer for purchasing
Palembang, 13 March 2023 XL and AXIS prepaid products through the
Ahead of Ramadan and Eid 2023, XL Axiata has myXL and AXISNet applications, such as
prepared a strong and reliable telecommunications
Jakarta, 20 March 2023 internet packages discounts of up to 70% and
network, which must be strengthened in XL Axiata promotes a culture that fosters quota bonuses for games, social media, and
anticipation of expected spikes in data usage traffic a deeper comprehension of customer streaming
during Ramadan, particularly over the extended experience (CX) among all employees, with
Eid holiday. XL Axiata has also carried out network the aim of consistently delivering excellent
tests on the main route back home in several customer experiences. As such, through the
Jakarta, 31 March 2023
regions, including Sumatra. AKBAR (Akrab Bareng Retail Outlet) program, Through XL Axiata Business Solutions, XL
XL Axiata requires all employees, including its Axiata continues to develop integrated
management to participate in face-to-face ICT solutions for corporate customers that
Depok, 13 March 2023 meetings with customers and product retailers benefit the community. Currently, the Smart
XL Axiata continues to implement Internet of (retail outlets/RO) to get input from them. Water Metre, an Internet of Things (IoT)-
Things (IoT)-based digital solutions in Islamic based solution that can accommodate
boarding schools. The latest product facilitates business players from multiple segments,
maggot and hydroponic cultivation at Ponpes
Jakarta, 21 March 2023 has been successfully developed. The NB-
Hidayattullah, Depok, West Java. The same method XL Axiata continues to advocate for national IoT Smart Water Metre is one of the most
will be implemented in Tasikmalaya, West Java, and private industries to accelerate gender recent IoT-based solutions from XL Axiata
several East Java and Central Java Islamic boarding equality. Yessie D. Yosetya, Director & Chief Business Solutions, which was implemented
schools Digital Transformation & Enterprise Business in collaboration with PT Berkat Air Laut (BAL)
Officer of XL Axiata, stated that for 2023, to monitor the distribution of clean water to
the main skills that women need to master residents of Gili Terawangan and Gili Meno in
are digital skills, as well as a number of non- North Lombok.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Pontianak, 3 April 2023 Bandung, 6 April 2023 Jakarta, 17 April 2023
XL Axiata, through the XL Axiata Taklim Council (MTXL Axiata), once again held XL Axiata’s data network in West Java is The final round of the 2023 Modal Pintar
community social programs. This time, by assisting with the renovation of Pontianak prepared to manage a surge in data traffic Competition, organised by XL Axiata through
City’s oldest madrasah, Madrasah Ibtidaiyah Al Raudhatul Islamiyah, which is the ahead of Eid homecoming. XL Axiata is Sisternet, has begun. At this stage, the eight
first madrasah to be established in Pontianak since 1948. The Mayor of Pontianak, ready to serve all customers in this province, best female-led MSMEs were announced.
represented by Pontianak City’s Expert Staff for Legal and Political Affairs, Yusnaldi, including travellers who may arrive soon, Nasta Rofika of Mojokerto, Dini Fuadillah
S.IP, M.Si, and XL Axiata’s Chief Corporate Affairs, Marwan O.Baasir, jointly inaugurated during the Eid homecoming flow. In West Sofyan of Bekasi, Khatarine Paula of Surabaya,
the new building at Tambelan Sampit Village, Pontianak. Java, XL Axiata’s total 4G network has Sani Sandyani of Bandung, Miranda Warokka
reached more than 4,100 villages/districts, of Tangerang, Hesti Adillah of Bekasi, Eni
420 sub-districts, and 19 cities/regencies. Mahmudah of Malang, and Shinta Aviyani of
Jakarta, 3 April 2023 Cileungsi are the eight MSMEs. The best eight
XL Axiata officially launched the e-SIM service. With e-SIM, customers do not need MSMEs will share a total capital reward of
to use a physical SIM card in their smartphone. This also means that by using an
Jakarta, 13 April 2023 Rp200 million. The final judgement and the
e-SIM, customers do not have to buy a physical SIM card at the store. In addition, XL Axiata’s commitment to providing winner’s announcement were taking place in
APRIL 2023
according to XL Axiata Group Head Mass Segment, Lyra Filiola, the use of e-SIM excellent customer service and experience Jakarta.
is more seamless process because when making purchases through store.xl.co.id, has been recognised once again by the public.
starter packs can be immediately registered and activated from anywhere easily XL Axiata received two awards through the
using a QR code. Customer Contact Center (CCC) in the first
Jakarta, 19 April 2023
quarter of 2023 at the Customer Contact XL Axiata again organised the Joint
Centre Service Excellence Award 2023 event Homecoming programme for Greater
Yogyakarta, 4 April 2023 hosted by Marketing Magazine. Jakarta service product sales partners. This
XL Axiata’s data network in Special Region of Yogyakarta (DIY) and Central Java programme brought 600 participants to
can withstand traffic increases ahead of homecoming and the extended Eid holiday. Central Java, Yogyakarta, and East Java.
In DIY, XL Axiata’s 4G network reaches 420 villages/districts, 7 sub-districts, and
Jakarta, 14 April 2023 XL Axiata prepared 13 big buses, 5 Inovas,
5 cities/regencies, while in Central Java, it has reached over 7,900, 547, and 35. XL Axiata has received various awards for and 5 Alphards. XL Axiata management and
Of 1.1 million data subscribers in DIY, 91% of whom are data customers. Meanwhile, its achievements and business success. XL Director & Chief Technology Officer I Gede
data subscribers in Central Java have reached 93% of the total of around 6.4 million Axiata’s Director & Chief Digital Transformation Darmayusa announced the joint homecoming
subscribers. In the last two years, data traffic has surged 51% in DIY and 65% in and Business Enterprise Officer, XL Yessie group’s departure from Cibis Park, Cilandak,
Central Java. D. Yosetya, was named The Most Influential South Jakarta.
CIO 2023 at the iCIO Awards 2023. Then, at
the 2023 Asian Telecom Awards, XL HOME
Surabaya, 5 April 2023
received two awards: Broadband Telecom
XL Axiata ensures 4G networks performance throughout East Java area. To provide Company of the Year and Marketing & Brand
optimal customer service, XL Axiata conducts ongoing data network enhancements Initiative of the Year.
throughout the year, including during the Long Eid holiday season. At present, XL
Axiata’s 4G network has reached to over 2,800 villages/districts across 620 sub-
districts in East Java Province.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
efficiency and productivity by using the
Jakarta, 5 May 2023 Medan, 23 May 2023
XL SATU BIZ package, which includes ERP
XL Axiata held the 2023 Annual General Meeting of Shareholders (Meeting). The XL Axiata customers in Medan, North software for SMEs with complete features,
Meeting which took place online has six agenda items that have been approved Sumatra, and Pidie Jaya, Aceh, won tens such as online cashiers and inventory,
at the Meeting, including approval of changes to the composition of the Board of of millions of rupiah for their tenacity in accounting, online stores, and employee
Directors and dividends sharing for shareholders amounted to Rp551.7 billion or 50% participating in the quiz program with prizes, management, including attendance and
of profits after adjustments. Xtravaganza/ FantAXIS and Spextakuler/ commission tracking
TriviAXIS, respectively. The quiz program
with hundreds of millions of rupiah rewards
Jakarta, 10 May 2023 held from 8 October 2022 to 5 January 2023
Jakarta, 26 May 2023
XL Axiata successfully navigated the first quarter of 2023 with strong financial (Xtravaganza/ FantAXIS Session 24), and 20 XL Axiata ensures that its 4G network in
performance. XL Axiata also continues to spur convergence services as a promising January 2023 to 19 April 2023 (Spextakuler/ North Jakarta is in prime condition and ready
future product. In terms of revenue achievement during the first quarter of 2023, XL TriviAXIS Session 21). to welcome the electric formula car racing
Axiata managed to achieve total revenue of Rp7.55 trillion, grew by 12% higher than event, 3-4 June 2023 in Jakarta. At the grand
the same period of previous year (YoY). Data and digital services revenue reached celebration of the world electric car racing
Rp6.91 trillion, or around 91.5% of total revenue.
Jakarta, 24 May 2023 series, XL Axiata has prepared at least 20
MAY 2023
The Hajj season is just around the corner. XL units of 4G BTS to cover all racing areas in the
Axiata has again prepared a special package Ancol area, including circuits and supporting
Jakarta, 10 May 2023 for Indonesian Hajj pilgrims while in the Holy areas around them, which include hotels,
Responding to the high market demand opportunity for the availability of FBB and Land. This special package, including starter restaurants, beaches, and various other
FMC services, Link Net will accelerate the provision of around 8 million home passes packs, can be obtained by customers at very tourism supports.
for the next five years which will be utilized by XL Axiata to provide FBB and FMC competitive prices. This package also provides
services to all customers. This is a manifestation of the commitment of both entities a large data quota option, long validity period.
to customers in providing more diverse digital services and experiences, with better The connection while in the Holy Land also
Mataram, 25 May 2023
quality, and as an effort to realise XL Axiata’s vision as the leading convergence received network support from all operators XL Axiata inaugurated the new XL Center
operator in Indonesia. in Saudi Arabia, namely STC, Mobily and Zain. Mataram customer service center. XL Center,
Indonesian Hajj pilgrims can get special offers which is now located at Epicentrum Mall,
for XL Hajj Starter Pack at Hajj Embarkation Mataram City, West Nusa Tenggara, comes
Jakarta, 12 May 2023 from 23 May 2023, and for XL Prepaid, AXIS, with wider capacity and better facilities and
Through XL Axiata Business Solutions, XL Axiata continues to develop Software- and XL PRIORITAS customers, they can get accommodates digital services. As the most
Defined Wide Area Network (SD-WAN) solutions, enabling corporate customers to special Hajj internet packages through the widely used telecommunications operator
build a strong, reliable, and cost-effective IT infrastructure network. The SD-WAN myXL App, and AXISNET. by the public in Lombok, the opening of XL
solution was first introduced by XL Axiata at the end of 2020, with Dexa Medica as Center in the shopping center for all digital
the first corporate customer to benefit from it. service needs that are well known by the
Medan, 25 May 2023 people of Lombok is part of an effort to
Through XL Axiata Business Solutions, XL improve service to customers.
Padang, 17 May 2023 Axiata provides fast internet access solutions
XThrough the XL Axiata Future Leaders (XLFL) programme, XL Axiata provides to Indonesian Small and Medium Enterprises
workshops to students on how to prepare for the world of employment. Workshops (SMEs). The solution, which comes in XL
took place in Padang and Bandung. Aztia Pertiwi Damukuto, XL Axiata’s Head of SATU BIZ package, provides features such
Talent Acquisition, and the XLFL Team provided training material on Professional as high-speed Wi-Fi internet access of up to
Communication for job applicants. 300Mbps, a huge quota of up to 100 GB that
may be distributed to 10 employees, and a
free Majoo membership. SME managers can
enjoy additional benefits to boost business
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Temanggung, 5 June 2023 Bandung, 16 June 2023 Jakarta, 27 June 2023
XL Axiata through the XL Axiata Peduli program strives to improve the digital XL Axiata is committed to boosting the share In today’s digital era, internet access has
competence of people with disabilities. As such, digital literacy training for this of women’s roles in the workplace and business become an essential necessity for Indonesian
community was held simultaneously in Temanggung and Yogyakarta in early through the Sisternet program. Consequently, families and individuals. Families are able to
June 2023. The training was attended by a total of around 60 participants from Sisternet again hosted a “Sistertalk” talk program connect with loved ones, acquire information,
Temanggung, Magelang, and Yogyakarta. with the theme “Breaking the Glass Ceiling: study, work, and even entertain themselves
Women on Economic Empowerment”. The event, through the Internet. XL Axiata sees this as
which took place at XL Centre Bandung and was a great opportunity to provide an interesting
Balikpapan, 9 June 2023 attended by over 200 people, featured Axiata experience for customers, specifically by
XL Axiata is strongly committed to supporting the development of the Archipelago Group’s Group Chief People Officer, Norlida Azmi, introducing the “XL SATU” converged family
Capital City (IKN). This support was implemented by building fast internet network as one of the presenters. internet bundle.
infrastructure around the future capital of the new country. In June 2023, XL
Axiata has placed 4 4G Mobile BTS (MBTS) units at the construction project area
of the Presidential Palace, Vice Presidential Palace, and around the employees’
Mahabalipuram, 18 June Jakarta, 28 June 2023
mess. XL Axiata has also prepared fibre optic networks, which will be connected 2023 With its success in winning several awards from
to backbone networks across Kalimantan. The Women20 (W20) Summit was hosted by various prestigious events, both domestically
India’s G20 Presidency at Mahabalipuram, India, and internationally, XL Axiata has once again
JUNE 2023
from 14-17 June 2023. With the topic of Women Led garnered recognition for its achievements
Bandar Lampung, 11 June 2023 and performance. The Company has been
Development Transform, Thrive, and Transcend,
this meeting attended by delegates from G20 awarded at least seven accolades in several
The AXIS Go To School Program awarded more than Rp30 million to SMA Yayasan
member countries discussed several issues categories, including: “Best Companies to
Pembina Unila (University of Lampung), Bandar Lampung. The prize is the outcome
connected to women’s empowerment. On this Work for in Asia – Indonesia Chapter, and
of their achievement in competitions or video production competitions. Students
event, delegates from the Indonesian Women20 Digital Transformation from the HR Asia Best
from the Enggal District school won more than Rp30 million in prizes for the best
(W20) Committee specifically conveyed best Companies to Work for in Asia Awards 2023,
video, AXIS video, most unique video, and video with the most likes, as well as
practises on the Sispreneur Program, which is Main Index, High Growth and High Market
rewards for hosting an Art Week at their school.
carried out sustainably in Indonesia. Capitalization – INDEX TEMPO-IDNFinancials
52, Best Fixed Mobile Convergence: XL SATU
and Most Engaging Brand in Social Media for
Jakarta, 14 June 2023 Mataram, 22 June 2023 Telco.
XL Axiata strives to explore opportunities and benefits for digital-based XL Axiata ensures that the 4G network is in
technology and solutions to maximise services for the industry. As such, XL Axiata top condition and ready to support the 2023
hosted an event, “XL Axiata Technology Days 2023” for two days, 14-15 June motocross world event in two locations in West
Jakarta, 30 June 2023
2023, by inviting several leading companies engaging in technology and digital Nusa Tenggara (NTB). The locations are at the XL Axiata and Link Net are strengthening
solutions. The event was also attended by representatives from universities with Samota Circuit, Sumbawa Regency, 23-25 June synergy to achieve faster market penetration
great vision and attention to the use of digital solutions. The event introduced the 2023, then continue to the Selaparang Circuit, of Fixed Broadband (FBB) and Fixed Mobile
theme “Reinvent Humanity” which has the spirit to continue to expand the use Mataram City, 1-2 July 2023. XL Axiata’s support Convergence (FMC) services in Indonesia.
and digital-based solutions through 5G technology, Internet of Things (IoT), and for this extreme motorcycle racing event also The next stage of synergy between the two
Artificial Intelligence (AI) in supporting social sectors such as industry, education, supports the government’s diligent efforts in parties is implemented once more with the
smart cities, and others. growting the tourism industry, particularly in NTB. signing of the Fibre to the Home Network
Development and Operation Agreement on 28
June 2023, which regulates the development
Kuburaya, 15 June 2023 Bandung, 26 June 2023 cooperation and operation of 1 million homes
SMKN 2 Jeruju Besar, Kuburaya Regency, West Kalimantan, received a prize of XL Axiata secures the availability of 4G passed networks in several cities/regencies
more than Rp25 million from the AXIS Go To School Program. The prize is the networks along the Cileunyi-Sumedang-Dawuan across Indonesia
outcome of their achievement in competitions or video production competitions. (Cisumdawu) toll road ahead of its completion.
The students from the Sungai Kakap District school received more than Rp25 The toll road section is being built to facilitate
million in rewards for the best movie and the most unique video, as well as the community mobility along the Bandung-
prize of organising an Art Week at their school. Sumedang-Dawuan corridor, and it is linked to
Kertajati Airport. There are currently 190 4G Base
Transceiver Station (BTS) units that will support
services along this new toll road.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Jakarta, 1 July 2023 Jakarta, 12 July 2023 Jakarta, 17 July 2023
The XL Axiata Taklim Council (MTXL Axiata) once again facilitated all employees The public has once again recognised XL
XL Axiata maintains its position as the first
including XL Axiata management to distribute sacrificial animals on Eid al-Adha Axiata’s performance in developing its
operator to deliver convergence services
1444 H. On this event, MTXL Axiata distributed sacrificial animals in Pasar Manggis business and services by awarding the
through XL SATU products. To maximise
Village, Setiabudi District, South Jakarta. President Director & CEO of XL Axiata, prestigious SPEx2 Award 2023 in the
services, XL SATU has adopted Fibre To
Dian Siswarini also witnessed the handover and slaughter of sacrificial animals. The category of The Best SPEx2 Company in the
The Room (FTTR) technology, which will
same activity was also carried out in several other areas such as in Jabodetabek, Telecommunication Industry. SPEX Awards
be launched soon and will be available
Banten, Lampung, Garut, Palu, as well as at MTXL Axiata assisted mosques in 2023 recognises businesses who have
to customers to boost the convenience
Bandung - West Java, Magetan - East Java, Aceh, and Luwuk - Central Sulawesi. successfully adopted digital transformation
of surfing at home. Furthermore, service
initiatives that benefit customers, employees,
coverage continues to expand, with the city
Batam, 1 July 2023 and shareholders. XL Axiata is the only
currently present in 63 cities and regencies,
operator to have received this coveted
The Axiata Ta’lim Council (MTXL Axiata) and XL Axiata Peduli for Disasters provided with Batam being the newest location
award. Dian Siswarini, President Director &
assistance to tornado victims in Kasu Island, Batam, Riau Islands Province. Basic
JULY 2023
CEO of XL Axiata, accepted the honour in
daily necessities such as rice, cooking oil, tea, sugar, instant noodles, soy sauce, Jakarta
and medicines that have been required by tornado victims were distributed. Surakarta, 21 July 2023
Denpasar, 2 July 2023 Jakarta, 13 July 2023 As part of its support for the Ministry of
Communication and Information (Ministry of
Through the XL Axiata Future Leaders (XLFL) program, XL Axiata organised a XL Axiata attained yet another achievement. Communication and Information), particularly
workshop for Balinese students on how to prepare for the workplace. The session XL Axiata received two awards from Anugrah the Directorate of Post and Information
was held in Denpasar, with XLFL Programme Leader, Dwi Kartika Sari, and the Inspiratif Liputan6.com: ‘Provider Inspiratif Administration, XL Axiata Business Solutions
XLFL team delivering presentation material on Corporate Culture and How We Can Acceleration of Indonesian MSME Progress’ attended a seminar titled Journey To 5G
Prepare for It. Human Capital (HC) also took part in this event, providing Find The for XL Axiata Business Solutions and ‘Telco Smart City, which was organised by the
Right Opportunities material provided by XL Axiata’s Senior Talent Acquisition, Inspiratif Development of Indonesian Ministry of Communication and Information
Yosepha Sistine. This activity seeks to provide students with basic knowledge and Women’s Digital Progress’ for XL PRIORITAS. through the Government Relations team.
better preparation prior to joining the world of professionalism. XL Axiata Business Solutions presented a
Denpasar, 16 July 2023 Showcase Booth in conjunction with Xcamp
Batam, 5 July 2023 at this event in Surakarta, which featured
XL Axiata provides assistance to flood and Smart PJU (Public Street Lighting) integrated
XL Axiata continues to strengthen its position as the first operator to introduce
landslide victims in Bali. Basic daily necessities with the dashboard interface and could
convergence services through XL SATU products. To maximize XL SATU Fibre
such as rice, cooking oil, quick noodles, eggs, operate PJU remotely and provide real-time
services, XL Axiata continues to expand its service convergence network to
foodstuffs, and medicines that are urgently data analysis.
various regions, and is now present in 59 cities, with Batam being the newest area.
needed by the afflicted communities were
delivered.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Jakarta, 2 August 2023
The “AXIS Nation Cup 2023” futsal event was hosted by XL Axiata for high school
students in Indonesia. The tournament, which offers a total reward of Rp270 million, will
be attended by 1,200 schools from 30 cities around Indonesia. Through this competition,
XL Axiata hopes to contribute to elevate sports achievements among students while
also strengthening AXIS’ positioning in the youth segment. The tournament will begin
on 11 August 2023 and conclude on 15 October 2023.
Cianjur, 3 August 2023
AUGUST 2023
XL Axiata employees engage in social actions (XL Axiata Baik) in Cianjur Regency.
Participants in the series of events distributed assistance to elderly social welfare
facilities, tahfidz homes, as well as the elderly and orphans. Cash funds for operations,
renovation and construction of tahfidz houses, and basic food assistance were
supplied.
Jakarta, 21 July 2023 Medan, 24 July 2023
XL Axiata, through XL SATU, established a XL Axiata provided donations to victims of
Jakarta, 7 August 2023
strategic partnership with VISION+, one of a fire that destroyed 9 houses in Belawan I XL Axiata is the first operator in Indonesia to offer Fixed Mobile Convergence (FMC)
Indonesia’s leading entertainment providers. Village, Medan Belawan District, Medan City, services to Indonesians since 2021. This was marked by the launch of a product
The cooperation agreement was signed in North Sumatra, resulting in 11 heads of families called XL SATU, which combines internet services at home (fixed broadband) and
Jakarta by XL Axiata’s Chief Home Officer, or 47 people losing property and shelter. Basic mobile (mobile broadband) into a single package, allowing consumers to access the
Bernard Ho Swee Keong, and VISION+’s necessities such as rice, cooking oil, soy sauce, internet both at home and outside the home in one easy step.
Managing Director, Clarissa Tanoesoedibjo. and instant noodles were donated.
Customers of XL SATU are now able to enjoy a
variety of entertainment shows from the MNC
Purwekerto, 11 August 2023
Group’s television channels, including popular
Jakarta, 26 July 2023 Through XL Axiata Business Solutions (XLABS), XL Axiata has again established
Indonesian and international sports, movies, XL Axiata collaborates with Nokia Indonesia partnerships with universities. Jenderal Soedirman University (UNSOED), Purwokerto,
and soap operas. to implement ESG (Environment, Social, and is the partner university this time. The two parties will collaborate to develop a
Governance) principles. The collaboration digital learning ecosystem and smart campus solutions for the Faculty of Medicine.
under the topic Women Leadership and As a trusted Information and Communication Technology service provider, XL
Bengkulu, 23 July 2023 Environmental Social Governance Programme Axiata Business Solutions develops and updates several technologies that have
XL Axiata continues to strengthen its 4G exemplifies XL Axiata and Nokia Indonesia’s previously been used in UNSOED. The partnership will run for the next five years and
network in Bengkulu Province. This network commitment to accelerating ESG targets will include many services such as Learning Management System Solutions, which
expansion has resulted in the supply of 4G through the implementation of sustainable include tablets, data packages, and infrastructure.
networks to 935 villages/districts and 105 programs. XL Axiata continues to strive to
sub-districts throughout all districts/cities. The adopt ESG principles by supporting Indonesia’s
number of villages served by XL Axiata’s 4G aim of decreasing carbon emissions by 43.2%
Jakarta, 13 August 2023
network increased to 12% of villages/district by 2030, and reducing carbon emissions by XL Axiata employees through the XL Axiata Ta’lim Council (MTXL Axiata) organised
in the last two years. A total of 480 4G BTS 45% from the 2020 baseline in 2030 in the the “Semarak Muharram - Merdeka Beramal” program which was carried out in
support telecommunication and data services company’s operational scope. various cities in Indonesia, such as mass circumcision for 50 children in Jakarta, as
throughout the province’s villages and districts. well as caring for duafa orphans in Medan, Palembang, Lebak, Bandung, Banjarmasin,
Makassar, and Banyuwangi. Similar activities were also held at MTXL Mentored
Mosques in Aceh, East Java, and Central Sulawesi.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Jakarta, 13 August 2023 MSME communities, particularly women-owned Bandung, 1 September 2023
MSME entrepreneurs. Sisternet’s engagement
A total of 200 school teams from Jabodetabek Indonesia’s first high-speed rail transportation service, connecting Jakarta and
has been recognised by international forums
are vying for tickets to the “AXIS Nation Cup Bandung, will soon be officially operational. The fast train will take 30-45 minutes
such as the G20, G20 EMPOWER, W20, The
2023” Futsal Tournament Grand Final. The travel time between Jakarta and Bandung. XL Axiata is committed to providing a
UN Women 2020 Asia Pacific WEP’s Award,
preliminary round will be held in five regions, network along the path. XL Axiata also ensures that services are available at all
and APEC. Sisternet is recognised as one of the
namely Jakarta, Bogor, Bekasi, Tangerang, stop stations, including Halim Station in East Jakarta, Karawang Station in Karawang
impactful practises of women’s empowerment
and Serang, from 11-13 August 2023. 40 high Regency, Padalarang Station in West Bandung, and Tegalluar Station in Bandung
programs.
school teams competed in each region Regency
Jakarta, 15 August 2023 Medan, 21 August 2023 Jakarta, 4 September 2023
As part of the Indonesian community, XL XL Axiata has previously launched an electronic On National Customer Day 2023, XL Axiata reaffirms its commitment to improving
Axiata welcomes the 78th Independence Day SIM card or e-SIM service. Customers may avoid the quality of customer experience (CX). On this memorable event, XL Axiata
of the Republic of Indonesia (RI) this year and purchasing a physical SIM card at an outlet by presents special promotions as a token of appreciation for customers, in keeping
SEPTEMBER 2023
celebrates the event by presenting a variety of using an e-SIM. To make it easier for subscribers with XL Axiata’s commitment to “Customer Friendly, Environmentally Friendly,
special promotions to all XL Prepaid, AXIS, and who prefer e-SIM services, all Sumatra XL Indonesia Prospers”.
XL PRIORITAS subscribers. Customers can take Centres can replace physical cards to e-SIM.
advantage of several attractive promotions
starting at Rp17, which are exclusively accessible
Jakarta, 5 September 2023
on the myXL and AXISnet applications from
Kupang, 28 August 2023 To mark the 78th Postel Bhakti Day, celebrated on 27 September 2023, ATSI
16-18 August 2023. XL Axiata continues supporting the (Association of Telecommunication Providers in Indonesia) hosted a blood donation
government’s aim of accelerating national event at XL Axiata Tower in collaboration with the Indonesian Red Cross Unit (PMI)
growth in Indonesia through equitable South Jakarta. This activity is meant to strengthen ties and improve relations among
Surakarta, 16 August 2023 distribution of telecommunications and data members of the postal, telecommunications, and broadcasting sectors, including
XL Axiata is committed to continue to network infrastructure. Within the last one year, well-established regulators.
establish a digital ecosystem for Micro, Small, XL Axiata has intensively built a 4G network,
and Medium Enterprises (MSMEs) in Indonesia including the deployment of more than 120 4G
through its women’s empowerment program, BTS, to remote rural areas and small islands that
Jakarta, 8 September 2023
Sisternet. The commitment was conveyed were previously unreachable, particularly in XL Axiata’s commitment to applying ESG principles in its business operations has
directly at the workshop “Acceleration of East Nusa Tenggara (NTT) Province. Alor Island again received public recognition. XL Axiata received the “Very Good” award at
Digital Transformation of Cooperatives is one of them. More than 850 4G BTS units the TOP GRC (Governance, Risk, and Compliance) Awards 2023 for successfully
and MSMEs - Road to Indonesia Start-up now service XL Axiata’s 4G network in NTT. implementing ESG and GRC approaches in company management. Retno Wulan,
Ecosystem Summit (ISES) 2023” in Solo. XL Around 188 sub-districts in 22 cities/regencies, XL Axiata Group Head Corporate Communication, accepted the prize in person at
Axiata’s Sisternet program continues to foster or 60% of NTT’s total sub-districts, are serviced the Raffles Hotel in South Jakarta.
innovation and open digital opportunities for by 4G networks.
Jakarta, 9 September 2023
The Menkominfo Rotating Cup Futsal Tournament was held once again at Grand
Futsal Kuningan in South Jakarta to celebrate the 78th Post and Telecommunication
Service Day (Harbak Postel). Mr. Wayan Toni Supriyanto, Director General of PPI
Ministry of Communication and Information, opened the event, which was also
attended by Yessie D. Yosetya, Director & Chief Enterprise Business and Corporate
Affairs of XL Axiata, and representatives from telecommunication service providers
and media.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Surabaya, 10 September 2023 Brebes, 14 September 2023 Makassar, 19 September 2023 Semarang, 25 September 2023
Through XL Future Leaders (XLFL) program, XL Axiata promotes the use of IoT (Internet XL Axiata management and employees XL Axiata, through XL Axiata Business
XL Axiata has completed Sinergi (Incubation of Things) solutions in Islamic boarding continue to help overcome social issues in the Solutions (XLABS), is committed to continuing
of Organisational Reform), a revolutionary schools (ponpes), specifically KH Mas Mansur service region. In South Sulawesi, XL Axiata to foster the digitalisation and transformation
incubation program for all student Madrasah Boarding School (MBS) in Brebes, personnel worked with Majlis Taklim (MTXL) of Small and Medium Enterprises (SMEs) in
organisations (Ormawa) in Indonesia. This Central Java. The students learned on how to build clean water facilities in Makassar City Indonesia. Following the recent presentation
program is the outcome of a collaboration to use IoT solutions for maggot cultivation and mosques in Maros Regency. Infaq, zakat, of XL SATU BIZ services with Hypernet
between XL Axiata and the #UangKita in this educational program, and XL Axiata and waqf funds from XL Axiata management Technologies (Hypernet), XLABS released the
Community from the Republic of Indonesia’s collaborates with PT Xekar, Benihbaik.com, and employees are used to finance these latest innovations from this service, namely
Ministry of Finance. This program, which the XL Axiata Taklim Council (MTXL), and the projects. Open WiFi and Managed Service WiFi. This
builds on the previous year’s REACT (House Bloggercrony community. feature is thought to facilitate industry drivers
of Innovation Acceleration) program, focuses to grow their businesses, particularly SMEs.
on improving organisational skills. Starting
Jakarta, 20 September 2023
May 2023 to August 2023, from around XL Axiata and CIMB Niaga established a
263 student organisations, 50 student
Jakarta, 15 September 2023 strategic partnership to synergise banking
Jakarta, 30 September 2023
organisations from 30 universities around XL Axiata has improved service quality for and telecommunications services to provide XL Axiata and PT PLN (Persero) established
Indonesia participated in this program customers who also use MRT Jakarta public added value to customers/consumers and a strategic partnership to integrate
transport. Since mid-August 2023, XL Axiata support sustainable business. Through this product services of both parties and
has expanded its 4G LTE network on all MRT partnership, both companies will optimise explore the potential to create sustainable
Mataram, 13 September 2023 Jakarta subterranean lines, both along the line their network and infrastructure to provide business solutions. With this partnership,
XL Axiata continues expanding its Fixed and at all stations, allowing customers to access convenience and comfort for customers/ both companies will optimise the use of
Mobile Convergence (FMC) service network the XL Axiata network while underground, both consumers in banking transactions and digitalisation and automation technology
in order to boost XL SATU Fibre service at each station and along the Jakarta MRT line. accessing digital services. aim at improving public services as well as
penetration. Mataram, West Nusa Tenggara, Customers can therefore remain connected and delivering positive impact on the company’s
is one of the cities that has just received productive while using MRT Jakarta services. business. Through this collaboration, XL
XL SATU Fibre service. The deployment of Axiata will implement smart metering using
XL SATU in Mataram will help the company Advanced Metering Infrastructure (AMI),
accomplish its aim of being Indonesia’s
Jakarta, 18 September 2023 Automatic Meter Reading (AMR) which will
leading convergence operator. XL SATU The adoption of ESG (Environmental, Social, be able to monitor usage and increase the
Fibre is currently available in 70 cities/ and Governance) principles in business has efficiency of electricity consumption in all XL
regencies, and this expansion will continue. also begun in the Indonesian Mining Industry. Axiata BTS towers.
XL Axiata Business Solutions (XLABS) provides
unique solutions that may enable mining
businesses implement “green mining” in
their operations with a Private Network. The
adoption of this solution has the potential to
boost the efficiency of the use of electrical
and gas energy, potentially reducing carbon
emissions by up to 20%.
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e-SIM activation is simple. Customers that
Banda Aceh, 2 October 2023 Banjarmasin, 13 October 2023
utilise e-SIM do not need to use a real SIM
XL Axiata continues to expand and strengthen the quality of its 4G networks in Responding to the ongoing haze crisis in South card in their smartphone. Additionally, the use
Aceh Province. The XL Axiata network currently serves around 3,980 villages/ Kalimantan, XL Axiata provides assistance to of e-SIM is more seamless process as starter
districts in 188 sub-districts, including those on remote islands in the province affected communities. In collaboration with packs may be immediately registered and
located in the Republic of Indonesia’s westernmost coast. The total BTS that Yayasan Benih Baik (Benihbaik.com), aid activated from anywhere using a QR code
support XL Axiata services in Aceh is around 2,300 BTS, the majority of which packages were distributed such as masks, when purchased through store.xl.co.id.
are 4G BTS. vitamins, and milk.
Jakarta, 24 October 2023
Jakarta, 4 October 2023 Jakarta, 16 October 2023 To meet the interests of XL customers and
XL Axiata through XL Axiata Business Solutions (XLABS) received the international The AXIS Nation Cup 2023, Indonesia’s biggest the general public, XL Axiata launches the
OCTOBER 2023
Asian Technology Excellence Awards in the category “Indonesia Technology high school event, had a champion: SMAN 8 latest data package “Star Series” through XL
Excellence Award for ICT Telecommunication” in Bangkok, and the “Anugerah Makassar, South Sulawesi, which defeated Prepaid (XL) products, a data package with
Inovasi Indonesia 2023” award from IDX Channel was awarded to XLABS for the SMK Nusantara West Jakarta 6-1 in the final four choices: Lifestyle Beauty, Music, Online
category of External Relations with Smart Mining innovation: Digitalization for round at Istora Senayan in Jakarta. The SMAN Games, and Culinary. This latest data bundle is
Greener Future in Jakarta. 8 Makassar Team was awarded Rp75 million available to XL customers via the myXL App,
for their efforts. Yessie D. Yosetya, Director & and those who are not currently XL customers
Chief Enterprise Business & Corporate Affairs can purchase the Star Series Starter Pack at
Jakarta, 5 October 2023 Officer of XL Axiata, presented trophies and the www.xl.co.id/star-series webstore starting
The AXIS Nation Cup 2023, Indonesia’s biggest high school championship, will prizes to the champions during an exuberant July 2023.
enter the grand finals. Ten teams have advanced to the tournament’s final round celebration
and will compete for a total prize of Rp435 million. This grand final event will take
place on 15 October 2023 at Istora Senayan in Jakarta, and will feature music
Pekanbaru, 31 October 2023
performances by JKT48 and Diskoria, as well as influencer Fun Match matches
Palembang, 18 October 2023 XL Axiata continues to expand its Fixed
between the Shafira Ika Putri team (National Team) and Aganta VS Vonny Felicia XL Axiata through the XL Axiata Peduli Mobile Convergence (FMC) service network
and Ciccio Manassero (Actor) teams. program provides assistance to communities in Sumatra. XL SATU Fibre is now available
affected by haze in South Sumatra and Jambi. in Bandar Lampung City - Lampung, Padang
In collaboration with Yayasan Benih Baik - West Sumatra, and Pekanbaru - Riau as
Jakarta, 5 October 2023 (Benihbaik.com), XL Axiata distributes healthy of 4 August 2023. As a result, XL SATU
In “The 14th IICD Corporate Governance Awards” held by The Indonesian Institute food packages to community living in Lubuk Fibre currently serves nine cities/regencies,
for Corporate Directorship (IICD) on 18 September at the Financial Hall, Graha Rupai Village, Rubit District, North Musi Rawas having previously reached Medan, Binjai, Deli
CIMB Niaga Building in Jakarta, XL Axiata once again recognised with the awards. Regency, in RSS Bhakti Guna Housing, Tj. Serdang, Palembang, Banyuasin, and Batam.
XL Axiata received two accolades at the 14th IICD Corporate Governance awards Seketo Village, and in Alam Indralaya Lestari This expansion will also continue in response
ceremony, for Top 50 Big Capitalization Public Listed Company and Best Role Housing, Indralaya District, Ogan Ilir Regency, to many public requests received via the XL
of Stakeholders. Ranty Astari Rachman, Group Head Corporate Secretary of XL South Sumatra. The aid packages included HOME satu.xl.co.id website and social media.
Axiata, accepted the prize personally. masks, vitamins, eye drops, and milk. XL Axiata is expanding its FMC network
throughout Sumatra, which has reached more
than 235,000 homepasses and will continue to
Jakarta, 7 October 2023 Jakarta, 20 October 2023 expand in various regions.
Celebrating 27 years of XL Axiata’s efforts for Indonesia’s #JadiLebihBaik, XL Axiata launched an e-SIM service for all
XL Axiata once again presents bonuses and promotions to all loyal customer customers and Indonesian earlier this year.
segments. This special program applies to XL Prepaid, XL PRIORITAS, AXIS, XL This latest innovative service from XL Axiata
SATU Fibre, and XL Axiata Business Solutions. During October 2023, subscribers provides several benefits that can support
can get attractive deals and benefits through myXL, AXISNet, and sales channels customers communication needs. Furthermore,
such as as Tokopedia, Shopee, blibli, Dana, OVO, Grab, Gojek, and Gopay.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Jakarta, 1 November 2023 Pamekasan, 10 November 2023 Pontianak, 14 November 2023
AXIS continues to strengthen its position as a youth brand by presenting the first XL Axiata always ensures network quality in XL Axiata held a "Sisternet Goes To Campus"
new innovation in Indonesia. The latest innovation is "Teng-Go" package, which allows Madura. This is necessary as on this Salt Island, program at Tanjungpura University, Pontianak,
customers to access social media easily and simply. The Teng-Go package provides XL Axiata holds the largest market share, with West Kalimantan. With the theme "Recognise,
social media access services based on usage time, not quota. Time purchased will not be a total of 1 million customers spread across Realise and Overcome Bullying", XL Axiata
wasted, because customers are given Play and Pause features. This innovative Teng-Go nearly 500 villages/urban villages, 65 sub- invited more than 2,000 Tanjungpura
package can be purchased through AXISNet app. districts, and four districts. In addition to the University female students to open their
continuously increasing number of customers, horizons and together discuss a number of
the traffic of XL Axiata's service usage has women's issues, and find solutions. Chief
Jakarta, 2 November 2023 also been increasing. In the last two years,
Corporate Affairs Officer of XL Axiata, Marwan
O. Baasir together with the Vice Rector for
XL Axiata through XL Axiata Business Solutions (XLABS) continues to enlarge its traffic has increased by up to 83%. XL Axiata
Cooperation of Tanjungpura University, Dr. rer.
contribution in the development of digitisation in the rail transportation and manufacturing has also introduced the XL SATU Fiber service nat. Ir. R. M. Rustamaji, M.T., IPU opened the
industries. In early November 2023, XLABS established a strategic partnership in the in Madura. event at Tanjungpura University Auditorium.
implementation of digital solutions with PT Moda Integrasi Transportasi Jabodetabek
(MITJ). The collaboration includes reliable connectivity to support the implementation
Jakarta, 13 November 2023
NOVEMBER 2023
of digital solutions through the use of Information and Communication Technology to Jakarta, 16 November 2023
improve services for the community and support sustainable business. Through this XL Axiata is now a member of Kadin Net Zero
AXIS' commitment to support various
collaboration, both companies will optimise their networks, infrastructure and technology Hub. The purpose of this collaboration is as a
programs to develop the characteristics
to provide convenience for users of integrated railway transportation modes. forum for XL Axiata to exchange knowledge
of Indonesian youth continues. This time,
and information, broaden its horizons, and
AXIS presents AXISLABS 2023 which
also share resources in order to realise a low
invites students to collaborate to express
Jakarta, 4 November 2023 emission ecosystem in Indonesia. XL Axiata's
creative ideas and ideas and develop
participation in this community is in line with
The big event FIFA U-17 World Cup in Indonesia will be held soon. XL Axiata has prepared them into innovative works. So far, the
its goal to become a telecommunications
a strengthened telecommunications and data network in all cities hosting the FIFA AXISLABS program has resulted in two new
company in Indonesia that pays attention to
U-17 World Cup. There are four cities that will be the location of the matches, namely feature developments from AXISNET. AXIS
the principles of sustainability in business.
Jakarta, Bandung, Surakarta and Surabaya. For this reason, XL Axiata has strengthened is committed to launching both feature
development ideas.
its network in advance, including by adding capacity and deploying mobile BTS (base
transceiver station). This network strengthening step targets at least 16,000 BTS in four
Pamekasan, 13 November 2023
cities, including by deploying 3 units of mobile BTS. XL Axiata continues to encourage the Simalungun, 19 November 2023
application of digital technology among Islamic
boarding schools. One of them is at Miftahul XL Axiata through the XL Axiata Taklim Council
Malang, 7 November 2023 Ulum Sekar Anyar Islamic Boarding School, (MTXL Axiata) inaugurated the clean water
Pamekasan, Madura. At this Islamic boarding facilities project in Dairi Regency, Saturday
Entering its 27th year serving Indonesia, XL Axiata continues to strengthen its support for
school, XL Axiata teaches students to utilize (18/11) and Simalungun Regency, Sunday (19/11).
social programs. Among others, this support targets three areas, namely Women MSMEs The clean water facility project is ready for use,
Internet of Things (IoT) based solutions for
through the Sisternet program, Islamic boarding schools, and people with disabilities. maggot cultivation. In this educational project, located at the Al-Asma Mosque, Kuta Padang
For MSMEs, XL Axiata organises training for MSMEs that are started and managed by XL Axiata also collaborated with partners of Village, Sidikalang District, Dairi Regency, and at
women. Through Sisternet, this program includes comprehensive training and capital Benihbaik Foundation at the inauguration event the Taqwa Mosque, Limag Raya Dusun II Village,
assistance. Malang City, East Java is the first place to hold this program, which will be for the operation of the Maggot cultivation Raya District, Simalungun Regency, North
implemented starting 6 November 2023. With the theme "Supporting the Effectiveness facility which took place on 9 Sumatra Province. Present at the inauguration
of Capital Utilisation for Women MSMEs", XL Axiata is working with partners namely November 2023. included the Director of Finance & Solution
Huawei, PT Tower Bersama, PT Solusindo Kreasi Pratama, PT Era Bangun Telecomindo, at MTXL Axiata Central, Cartesius Nugroho
Fiberhome, Mitratel, Alita, Dentsu International Indonesia, PT Pura Barutama as well as Victorianto, Chairman of MTXL Axiata West
Region, Maf'ul Taufiq, and local community
Benihbaik Foundation, Bloggercrony Indonesia Community, Peak Performance Indonesia,
leaders.
Resellerun, Amangtiwi Malang, and Mom Digipreneur.
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Garut, 4 December 2023
In its 27th year of serving Indonesia, XL Axiata through XL Axiata Baik program
continues to strengthen support for people with disabilities. During the first weekend
of December 2023, Chief Human Capital Officer of XL Axiata, Hira Kurnia led a
dozen XL Axiata employees who are members of the Bikers of XL Axiata and MTXL
to hold a series of activities in the form of donations of supporting facilities for
teaching and learning activities at SLB C Yayasan Karya Bakti, to teaching activities
at SLB C Nusantara Kita, Garut. In addition, the group of XL Axiata employees also
provided donation for the homeless community and the poor around the Raudhatul
Faizin Mosque, Jonggol District, Bogor Regency.
DECEMBER 2023
Jakarta, 6 December 2023
Axiata Group Berhad (“Axiata” or “the Group”) today announced that it is driving
forward the structural transformation of its Indonesian subsidiaries, XL Axiata
and Link Net, to accelerate the strategic shift towards becoming a ServeCo and
a FibreCo. This strategic move aims to bolster the position in optimising the
opportunities within Indonesia's underpenetrated Fixed Broadband (“FBB”) and
Medan, 22 November 2023 Fixed Mobile Convergence (“FMC”) markets. XL Axiata and Link Net have reached
non-binding agreements, encompassing the transfer of Link Net's FBB business
To commemorate World Children's Day, XL Axiata together with the journalist community
including its 750,000 customers to XL Axiata and the roll out of an additional 2
in Medan held a routine blood donation at the Grha XL Medan office, Jalan Diponegoro million new homes passed by Link Net, which will enable XL Axiata to deliver FBB
No. 5 Medan. The results of this social action will be channeled to the Medan Children's and FMC services for its growing customers and the wider Indonesian community.
Oncology Foundation (YOAM) for further distribution to children suffering from cancer. Upon completion of the additional 2 million roll-out, Link Net will enable nearly 6.5
million access to home passes as a leading wholesale FibreCo.
Garut, 24 November 2023
Garut Resort Police (Polres) managed to arrest a group of fraudsters who pretended Surabaya, 8 December 2023
to be XL Home service officers in Karangpawitan District, Garut Regency, on Monday XL Axiata's sustainable social responsibility program (CSR) has once again received
afternoon (November 21). In the arrest operation, the police managed to secure two public appreciation. This time, XL Axiata received the Corporate Social Responsibility
suspected perpetrators who posed as XL Home officers, namely DR (29 years old), (CSR) Award 2023 from the Pamekasan Regency Government, Madura, as one
a resident of Cikole Sukabumi, and GO (28 years old), a resident of Baros Sukabumi. of the companies that have helped realize development programs in Pamekasan
Regency, which took place at the Azana Frontone Hotel, Pamekasan, last Monday
From the two of them, several pieces of evidence were also secured in the form of
(4/12).
cash amounting to Rp 306,500, a 1-unit gold Yamaha NMAX motorcycle, five STB
chargers, three XL Home brand STBs, and six iForte routers.
Surabaya, 8 December 2023
Jakarta, 27 November 2023 XL Axiata held "XL Axiata Goes To Campus - Early Career Coach" program at the
Faculty of Computer Science, Brawijaya University, Malang, East Java. With the
XL Axiata succeeded in winning the SMK3 Gold Flag (Occupational Safety and Health theme "Mastering Data Analytics in Telecommunications Company", XL Axiata in
Management System) from the Ministry of Manpower (Kemenaker) of the Republic collaboration with the faculty and lecturers of FILKOM Brawijaya University, invited
of Indonesia. Director & Chief Technology Officer of XL Axiata as well as Chairman more than 100 students of Brawijaya University to open their insights in terms of the
of the XL Axiata Occupational Safety and Health (P2K3) Advisory Committee, I role of data analysts in maximising company performance in the telecommunications
Gede Darmayusa received the award in Jakarta, on Wednesday (22/11). The Gold industry. In addition, in this event XL Axiata provided career coaching material to
Flag is an award, in addition to a certificate for companies that have implemented students and new graduates, especially on Data Analytics career path as one of the
SMK3. This is regulated in Government Regulation Number 50 of 2012 to determine most needed careers in the future.
whether a company passes the SMK3 audit or not. The SMK3 gold flag is awarded
to companies with a score between 85-100% of the selected company category
(initial/ transitional/ advanced).
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2023 EVENT HIGHLIGHTS 2023 EVENT HIGHLIGHTS
Jakarta, 12 December 2023 Surabaya, 16 December 2023 Jakarta, 19 December 2023 Jakarta, 21 December 2023
Coinciding with a decade of the student AXIS is again holding a talent and creativity XL Axiata through XL PRIORITAS has established XL Axiata consistently presents various services
character development program, XL Axiata search program for retail outlets and a strategic collaboration with PT Bank Negara and innovations to improve customer satisfaction
Future Leaders (XLFL) 2023 held another customers, namely AXISELEB 2023. As in Indonesia Tbk (BNI) to launch the BNI – XL and experience. For all loyal XL PRIORITAS
National Conference 2023. A total of 190 previous years, through this event, AXIS PRIORITAS credit card Co-Branding product for customers, XL Axiata presents the latest
awardee students who have completed the wants to show support for customers and
all BNI customers and XL PRIORITAS customers. service, PRIO Club, as a form of appreciation
10th batch of the XLFL program for two years the community to be able to develop their
Through this collaboration, BNI-XL PRIORITAS and customer trust in XL PRIORITAS. This new
graduated in Jakarta on Sunday (10/12). In its talents and interests by utilizing digital
one-decade journey, the program has also media. AXISELEB 2023 was attended by card holders including XL PRIORITAS customers service can be enjoyed by all XL PRIORITAS
produced around 75 social innovation projects participants from the provinces of East can enjoy various attractive offers starting with customers on 12 December 2023. Every XL
initiated by the awardees based on social Java, Bali, and Nusa Tenggara. After going a 20% discount on PRIORITAS bills for up to PRIORITAS customer will automatically join PRIO
problems from time to time. The 10th batch through several judging phases, 12 finalists 5 months and various other attractive offers. Club and can immediately enjoy the various
of graduates came from various campuses were selected and presented to show their Offers can be obtained starting December 19, benefits provided from the first day the card is
located in six provinces, such as Bandung talent directly in front of the jury which was 2023. activated, without having to collect or redeem
Institute of Technology (ITB), Brawijaya held in Surabaya, Saturday (16/12). points first.
University (UB), Gadjah Mada University
(UGM), and so on. Just like in previous years, Jakarta, 20 December 2023
XL Axiata also mentored and even facilitated Medan, 17 December 2023 XL Axiata continues to increase its contribution Jakarta, 22 December 2023
training on the utilization of Internet of Things
XL Axiata continues to strengthen customer to women's empowerment. One of its efforts is XL Axiata, Indosat Ooredoo Hutchison (Indosat
(IoT) technology for the awardees, which
service as one of the spearheads of efforts promoting the #PerempuanNaikKelas campaign or IOH), Axiata Digital Labs (ADL), and Amazon
began in 2019. This project also served as a
to improve the customer experience. One by continuing to improve the benefits of the Web Services (AWS) proudly introduce
requirement for their graduation from the XL
of the strategic steps that has been realized Sisternet application to become the #1 upskilling the SinergiAPI Portal, the first API portal in
Axiata Future Leaders program.
is the launch of customer service in a new
application for Indonesian women. For this Indonesia based upon GSMA’s Open Gateway
concept called ''XL AXIS Service Point''. Since
reason, the features in the Sisternet application initiative which aims to empower developers
Jakarta, 13 December 2023 its introduction to customers and the public
are also continuously reviewed and evaluated to and enterprises by offering universal access to
in September 2023, 100 XL AXIS Service
XL Axiata has partnered with CATCHPLAY+ Points have been available in more than 70 ensure that the needs of Indonesian women are network operator APIs. GSMA Open Gateway
to deliver premium quality content cities/regencies throughout Indonesia. This accommodated in various aspects. At the end of APIs are defined, developed, and published in
seamlessly. Through this collaboration, XL new concept of customer service outlets, 2023, the Sisternet application again introduced CAMARA, the open-source project driven by
Axiata customers can now access a variety among others, is to help customers activate several new features, whose creation was based the Linux Foundation.
of premium Blockbuster movies and popular forfeited cards, card replacement services, on input from some parties. The introduction of
series through the website or download the and XL Priority lists. Sisternet's new features was carried out directly
CATCHPLAY+ application via smartphones
by the Director & Chief Enterprise Business and Jakarta, 22 December 2023
starting 7 December 2023 with bundled data
packages, making it easy to watch family Corporate Affairs Officer of XL Axiata, Yessie D. XL Axiata, Indosat Ooredoo Hutchison (Indosat
favourite content anywhere and anytime.
Jakarta, 18 December 2023 Yosetya, and Independent Commissioner of XL or IOH), Axiata Digital Labs (ADL), and Amazon
The signing of the collaboration was carried Ahead of the Christmas and New Year (Nataru) Axiata, Yasmin Wirjawan, in a special event in Web Services (AWS) introduced SinergiAPI,
out by Chief Marketing Officer of XL Axiata, holidays, XL Axiata has ensured network Jakarta on Wednesday (11/20). which is the first API Portal in Indonesia as a
Alfons Bosch Sansa and Country Manager of readiness in the face of possible traffic spikes in follow-up to the GSMA Open Gateway initiative.
CATCHPLAY+ Indonesia, Dhini W Prayogo in all services. Based on traffic spikes in previous This collaboration is conducted to empower
Jakarta, Wednesday (13/12). years, XL Axiata predicts that there will be 2-3 Sidoarjo, 21 December 2023 application developers and companies by
times increase in traffic compared to average
XL Axiata continues to expand the application offering universal access to API services provided
traffic on normal weekdays and an increase of
around 20% compared to last year's Nataru of digital Internet of Things (IoT) solutions by network operators. The GSMA Open Gateway
Tapak Tuan, 14 December 2023 among Islamic boarding schools (ponpes). API was formulated and developed by CAMARA,
traffic.
XL Axiata distributed donations to flood After previously in Pamekasan, this time which is an open-source project supported by
victims in South Aceh Regency and Southeast XL Axiata implemented this solution at the the Linux Foundation.
Aceh Regency, Aceh Province. Donations sent Madrasatul Quran At Tauhid Islamic Boarding
packages of basic daily necessities in the form School, Sidoarjo, East Java. XL Axiata teaches
of rice, eggs, sugar, cooking oil, packaged fish,
students to use IoT for maggot cultivation and
bottled drinking water, medicines, and others.
social entrepreneurship together with partners
Donations were handed over to local residents
in Ladang Rimba Village, Central Trumon of the Benihbaik Foundation, XL Axiata
District, South Aceh Regency, and Rikit Bur inaugurated this digital facility in Sidoarjo, on
Village, Bukit Tusam District, Southeast Aceh Thursday (21/12).
Regency, Aceh Province, Wednesday (13/12).
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AWARDS &
AWARDS & CERTIFICATES 2023
CERTIFICATES 2023
AWARDS 2023 4 ICIO AWARDS 2023 9 APRESIASI INDEX TEMPO-IDNFINANCIALS 52
Yessie D. Yosetya, Director & Chief Digital The Main Index, High Growth and High Market
Transformation & Business Enterprise of XL Axiata, Capitalization Award – INDEX TEMPO-
was named The Most Influential CIO 2023 at the IDNFinancials 52 was held by Tempo IDN in
iCIO Awards 2023 in Jakarta. The honour was received conjunction with the Issuer Appreciation Night. This
as a result of the jury’s valuation that she was among award was presented to XL Axiata since it was deemed
the CIOs who successfully became an innovator in the to have improved its financial performance portfolio
adoption and utilisation of digital technology that aim in the last five years to March 2023 by becoming a
to enhance value and best performance in alignment constituent of the Tempo Index - IDN Financials 52.
with business objectives.
10 SELULAR AWARDS 2023
5 CUSTOMER CONTACT CENTER SERVICE
EXCELLENCE AWARD 2023 XL Axiata received the “Best Fixed Mobile
Convergence: XL SATU and Most Engaging Brand in
Through the Customer Contact Center (CCC) at the Social Media for Telco” awards at the Seluar Awards
Customer Contact Center Service Excellence Award 2023 “Moving To The Next Level”.
2023 event held by Marketing Magazine, XL Axiata
Chief Corporate Affairs of XL Axiata, Marwan
received the “Excellence Service Performance”
O.Baasir, achieved the award for Excellence in
award for 2 categories, namely:
Performance. The award was given to Marwan
• Call Center Telecommunication
O. Baasir based on the jury’s assessment of him
• Email Center non-Banking-Financing-
as an individual who has successfully innovated
Insurance
in driving the implementation and utilization of
digital technology, thereby enhancing value and
6 INDONESIA HUMAN RESOURCES AWARD 2023 performance in line with business objectives.
At the Indonesian Human Resources Awards 2023
11 HR ASIA BEST COMPANIES TO WORK FOR IN
held by Warta Ekonomi Group, XL Axiata through
ASIA AWARD 2023
its subsidiary, PT Kuadran Satu Komunika (Kuadran1
Komunika), received an award in the category of
XL Axiata received an award for the “Best
“The Best HR Management for The Outstanding
Companies to Work for in Asia – Indonesia
HR Transformation Initiatives to Maintain
Chapter, and Digital Transformation from the HR
Company Agility and Productivity”.
Asia Best Companies to Work for in Asia Awards
2023.
7 ASIAN TELECOM AWARDS 2023
12 MARKETEERS SUSTAINABLE MARKETING
XL HOME services received the prestigious Asian
EXCELLENCE AWARD
Telecom Awards 2023 which took place in Singapore.
In the event initiated by Asia Telecom magazine, XL
1 MATA LOKAL AWARD 2 BEST PERFORMING VENDOR 2022 In the Marketeers Sustainable Marketing Excellence
HOME received two categories, namely Broadband
Award event held by Marketing magazine, XL
Telecom Company of the Year - Indonesia
XL Axiata received an award through Sispreneur XL Axiata Business Solutions received the Best Axiata received an award for the Corporate Social
and Marketing & Brand Initiative of the Year –
program. The program dedicated to women’s Performing Vendor 2022 award from DANA. XL Responsibility of The Year category. This event
Indonesia.
empowerment earned an award for its commitment Axiata Business Solutions is considered to have is a competition and award for companies and
to women’s empowerment. XL Axiata received strengthened DANA’s business by providing effective organisations that are considered successful in
an award for the Best Mixed Media Campaign and efficient ICT solutions for DANA’s business. 8 INDONESIA WOW BRAND 2023 implementing sustainable marketing that has an
category with the theme of Entrepreneurship at impact on strengthening the economy, community
the Tribun Network Mata Lokal Award event XL Axiata through XL Prepaid and Live.On service empowerment, and environmental conservation.
3 STRONG PARTNER
products again recognised at the WOW Brand The award was presented online.
Festive Day 2023. In this event, XL Prabayar received
XL Axiata Business Solutions received the “Strong
the Celular Operator and Live.On categories for
Partner” award from Home Credit Indonesia.
the Digital Operator category.
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AWARDS & CERTIFICATES 2023
CERTIFICATES 2023
13 TOP GRC AWARDS 2023 18 SPEX2 AWARD 2023 UNTUK KATEGORI
THE BEST SPEX2 COMPANY IN
The public has once again recognised XL Axiata’s
TELECOMMUNICATION INDUSTRY
commitment to applying ESG principles in its
CERTIFICATES VALIDITY ISSUERS
business operations. XL Axiata received the “Very
XL Axiata is the only operator to receive the award as
Good” award at the TOP GRC (Governance, Risk,
The Best SPEx2 Company in the telecommunications ISO 9001:2015 Quality Management 5 January 2027 British Standards Institute
and Compliance) Awards 2023 for successfully
category, as it is considered to have successfully System (Recertification)
applying ESG and GRC approaches in in managing
implemented a digital transformation strategy
the company.
that provides added value to the company and ISO 20000-1:2018 IT Service Management 14 January 2027 British Standards Institute
stakeholders. System (Recertification)
14 14TH IICD CORPORATE GOVERNANCE AWARD
2023 Sustainalytics 1 Year Morningstar Sustainalytics
19 LIPUTAN6.COM ANUGERAH INSPIRATIF AWARDS
AT THE FESTIVAL 6 2023 (8-9 JULI 2023) (Medium Risk score at 28,3) (April 2023 - April
XL Axiata once again received a public award at 2024)
“The 14th IICD Corporate Governance Awards”
The first award, ‘Telco Inspiratif Pengembangan
held by the Indonesian Institute for Corporate ISO 22301:2019 Business Continuity 11 December 2024 British Standards Institute
Kemajuan Digital Perempuan Indonesia,’ was
Directorship (IICD) at the Financial Hall, Graha CIMB Management System (Surveillance)
presented to XL PRIORITAS service. XL Axiata
Niaga Building, Jakarta. XL Axiata received two
Business Solutions received the second award,
awards for two categories, namely: ISO 14001:2015 Environmental 1 September 2025 British Standards Institute
‘Provider Inspiratif Akselerasi Kemajuan UMKM
• Top 50 Big Capitalization Public Listed Management System (Surveillance)
Indonesia
Company
• Best Role of Stakeholders ISO 45001:2018 Occupational Health and 1 September 2025 British Standards Institute
20 EXCELLENCE IN INNOVATION VIDEO AWARD Safety Management System (Surveillance)
ON DIGITAL NATION AWARD 2023 FROM M360
15 ASIAN TECHNOLOGY EXCELLENCE AWARDS
APAC (7-8 SEPTEMBER 2023) ISO 27001:2013 Information Security 25 November 2026 British Standards Institute
XL Axiata through XL Axiata Business Solutions Management System (Resertifikasi)
(XLABS) received the international Asian Sisternet received Digital Nation Award 2023
Technology Excellence Awards for the category of category Excellence in Innovation Video Award. The Occupational Health and Safety December 2026 Ministry of Manpower
“Indonesia Technology Excellence Award for category include best demonstration of Innovation Management System
ICT Telecommunication” in Bangkok. This award in mobile technology in the advancement of digital
recognises XLABS’ commitment to becoming a transformation of a nation (50% of the score) and Contractor Safety Management System March 2024 Eni Muara Bakau
trusted ICT service provider in Indonesia. best narrative about the company’s innovative High Risk Project
products, services or programs that are being used
to support the digital transformation of a nation (50% Contractor Safety Management System September 2025 PT Pertamina Persero
16 ANUGERAH INOVASI INDONESIA 2023
of the score). High Risk Project
XL Axiata through XL Axiata Business Solutions
(XLABS) received the “Indonesia Innovation ICA Certificate in Compliance - International Compliance Association
21 TECHNOLOGUE AWARD 2023 (SEPTEMBER
Award 2023” for the External Relations category 2023)
with Smart Mining: Digitalisation for Greener Business Continuity Management 30 August 2025 National Professional Certification
Future innovation. This award was initiated by IDX Professional Agency
XL Axiata received the Best Telco Brand category. A
Channel with the theme ‘Advancing Agile Innovation total of 9 companies in the telecommunications and
for Sustainable Growth’. Certified Information Systems Auditor 31 January 2023 Certified Information Systems
technology sector were involved in the nomination.
Auditor – An ISACA Certification
In selecting the nominees, the Technologue.id team
17 SERVICE QUALITY (SQ) AWARD UNTUK conducted an evaluation through an editor’s choice Certified Risk Management Practices 30 August 2025 National Professional Certification
XL CENTER who are experienced in their field. Agency
XL Axiata received an award for its customer service 22 MOST LOVED RAMADAN ADS 2023 BY KANTAR Sustainalytics 1 Year Morningstar Sustainalytics
center. The Grade Diamond Service Quality Award in (Medium Risk score at 28,3) (April 2023 - April
the Cellular Telecommunication category through the Corporate Brand and Segment Brands created a 2024)
XL Center was achieved by XL Axiata at the Service collaborative campaign during Ramadan, “Ada Untuk
Quality (SQ) Award 2023, organized by Marketing Kebaikan”, which proved effective in improving Brand ESG Disclosure Transparency Awards 1 Year Investor Trust
Magazine. Linkage and Reputation. The campaign also received 2023 (Predikat Committment)
Most Loved Ramadan Ads 2023 from Kantar.
Corporate Social Responsibility of the Year 1 Year Marketeers
Corporate Social Responsibility Award 1 Year Pamekasan Regency Municipality
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
SHAREHOLDERS
SHAREHOLDERS COMPOSITION
COMPOSITION
Shareholders based on Classification
as of 1 January 2023
TOTAL
SHAREHOLDERS TOTAL SHARES %
Shareholders Composition SHAREHOLDERS
as of 1 January 2023 and 31 December 2023 Local Investors
1 JANUARY 2023 31 DECEMBER 2023 Indonesia Individuals 23,643 525,401,870 4.00202%
SHAREHOLDERS
TOTAL SHARES % TOTAL SHARES % Cooperatives 6 351,100 0.00267%
Axiata Investments (Indonesia) Sdn. Bhd 8,697,163,762 66.25% 8,697,163,762 66.25% Foundation 14 30,281,799 0.23066%
Saham Treasuri 56,487,800 0.43% 56,487,800 0.43% Pension fund 90 159,721,472 1.21661%
Publik 4,374,779,103 33.32% 4,374,779,103 33.32% Insurance 160 589,397.315 4.48947%
Limited liabilities Companies 98 153,662,658 1.17046%
Mutual Funds 230 666,978,090 5.08041%
Shares Ownership by Members of the Board of Directors and Board of Commissioners
Sub-Total 24,241 2,125,794,304 16.19230%
As of 1 January 2023 and 31 December 2023
Foreign Investors
1 JANUARY 2023 31 DECEMBER 2023
SHAREHOLDERS POSITION Foreign Individuals 77 23,022,912 0.17536%
TOTAL SHARES % TOTAL SHARES %
Foreign Institutions 268 10,979,613,449 83.63234%
The Board of Commissioners and Directors
Sub-Total 345 11,002,636,361 83.80770%
Dr. Muhamad Chatib Basri President Commissioner - - - -
Total 24,586 13,128,430,665 100.00000%
Vivek Sood Commissioner - - - -
Dr. Hans Wijayasuriya Commissioner - - - -
Dr. David R. Dean* Commissioner - - - -
Shareholders based on Classification
Yasmin Stamboel Wirjawan Independent Commissioner - - - -
as of 31 December 2023
Muliadi Rahardja Independent Commissioner - - - -
SHAREHOLDERS TOTAL TOTAL SHARES %
Julianto Sidarto Independent Commissioner - - - - SHAREHOLDERS
Dian Siswarini President Director 11,244,622 0.086% 11,764,622 0.090% Local Investors
Budi Pramantika** Director & CFO - - - - Indonesia Individuals 22,760 549,467,042 4.18532%
Feiruz Ikhwan*** Director & CFO - - 222,134 0.002% Cooperatives 7 276,100 0.00210%
David Arcelus Oses Director & CFO - Consumer 3,409,069 0.026% 3,534,069 0.27% Foundation 17 25,917,577 0.19742%
Abhijit J. Navalekar Director & CCO – Home & 3,826,021 0,029% 3,125,421 0.024% Pension fund 94 128,438,535 0.97832%
Convergence
Insurance 175 543,441,594 4.13943%
Yessie Dianty Yosetya Director & CEBCAO – 3,500,545 0.027% 2,188,845 0.017%
Enterprise Business & Limited liabilities Companies 98 165,942,731 1.26400%
Corporate Affairs
Mutual Funds 216 686,555,468 4.88265%
I Gede Darmayusa Director & CSTIO – 353,924 0.003% 454,924 0.003%
Technology Sub-Total 23,367 2,054,499,397 15.64924%
Note:
Foreign Investors
All members of the Board of Directors and/or all members of the Board of Commissioners do not have indirect ownership of the Company’s shares.
Foreign Individuals 84 18,711,112 0.14252%
* No longer served as member of the Company’s Board of Commissioners effective as of 24 December 2023
** No longer served as member of the Company’s Board of Directors effective as of 5 May 2023 Foreign Institutions 239 11,055,220,156 84.20824%
*** Served as member of the Company’s Board of Directors effective as of 5 May 2023
Sub-Total 323 11,073,931,268 84.35076%
Total 23,690 13,128,430,665 100.0000%
322 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 323
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
SHAREHOLDERS COMPOSITION
CHRONOLOGY OF SHARES LISTING
Top 20 Shareholding
as of 1 January 2023
& OTHER SHARES LISTING
NO PERIOD NAME SHARES % STATUS
1 1/1/2023 AXIATA INVESTMENTS (INDONESIA) SDN BHD 8,697,163,762 66.2467890 Foreign Entity
2 1/1/2023 UOB KAY HIAN PTE LTD A/C FERRYMOUNT INVE 355,606,232 2.7086728 Foreign Entity
3 1/1/2023 MORGAN STANLEY AND CO INTL PLC – IPB CLI 315,266,698 2.4014043 Foreign Entity OFFER
PAR VALUE
CORPORATE ACTIONS TOTAL SHARES PRICING SHARES LISTING DATE
4 1/1/2023 BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD 247,406,771 1.8845114 Foreign Entity PER SHARE
(IDR)
5 1/1/2023 DBS BANK LTD-EQUITIES-FERRYMOUNT INVESTM 177,803,117 1.3543364 Foreign Entity Initial Public Stock Offering
6 1/1/2023 CITIBANK NEW YORK S/A GOVERNMENT OF NORW 81,500,000 0.6207901 Foreign Entity and listed at the Indonesia Indonesia Stock 29 September
1,427,500,000 100 2,000
7 1/1/2023 REKSA DANA SUCORINVEST EQUITY FUND 78,486,000 0.5978323 Mutual Funds Stock Exchange (formerly Exchange 2005
Jakarta Stock Exchange)
8 1/1/2023 RD SCHRODER D PRESTASI PLUS-908294000 66,984,300 0.5102232 Mutual Funds
Limited Public Offering I with 1,418,000,000 100 2,000 Indonesia Stock 01 December
9 1/1/2023 JPMCB NA RE – VANGUARD EMERGING MARKETS 62,944,808 0.4794542 Foreign Entity
Pre-emptive Rights Exchange 2009
10 1/1/2023 CITIBANK NEW YORK S/A GOVERNMENT OF NORW 61,123,700 0.4655827 Foreign Entity
New Incentive Shares without 10,566,332 100 5,600 Indonesia Stock 28 April 2011
11 1/1/2023 JPCMB NA RE-VANGUARD TOTAL INTERNATIONAL 58,130,558 0.4427838 Foreign Entity Pre-emptive Rights in the Exchange
12 1/1/2023 ALLIANZ LIFE IND – SMARTLINK RUPIAH EQUI 56,072,100 0.4271044 Insurance framework of Long-Term
13 1/1/2023 PT ELANG MAHKOTA TEKNOLOGI 55,688,000 0.4271044 Limited Liability Company Incentive 2010-2015 Grant
Date I
14 1/1/2023 PT AXA MANDIRI FINANCIAL SERVICES S/A M 46,912,700 0.4241787 Insurance
New Incentive Shares without 7,710,279 100 5,600 Indonesia Stock 16 April 2012
15 1/1/2023 PT PRUDENTIIAL LIFE ASSURANCE – REF 46,565,509 0.3573367 Insurance
Pre-emptive Rights in the Exchange
16 1/1/2023 CHANDRA ADISUSANTO, IR 46,176,200 0.3546921 Limited Liability Company framework of Long-Term
17 1/1/2023 CITIBANK NEW YORK S/A EMERGING MARKETS C 45,550,045 0.3517267 Foreign Entity Incentive 2010-2015 Grant
Date II
18 1/1/2023 CITIBANK NEW YORK S/A GOVERNMENT OF NORW 44,000,000 0.3469573 Foreign Entity
New Incentive Shares without 8,214,056 100 5,600 Indonesia Stock 12 April 2013
19 1/1/2023 SIX SIS LTD 44,000,000 0.3351505 Foreign Entity
Pre-emptive Rights in the Exchange
20 1/1/2023 RD BATAVIA DANA SAHAM - 898544000 43,167,300 0.3351505 Mutual Funds
framework of Long-Term
Incentive 2010-2015 Grant
Date III
Top 20 Shareholding New Incentive Shares without 6,891,003 100 4,888 Indonesia Stock 21 April 2015
as of 31 December 2023 Pre-emptive Rights in the Exchange
NO PERIOD NAME SHARES % STATUS framework of Long-Term
Incentive 2010-2015 Grant
1 31/12/2023 AXIATA INVESTMENTS (INDONESIA) SDN BHD 8,697,163,762 66.2467890 Foreign Entity
Date V
2 31/12/2023 UOB KAY HIAN PTE LTD A/C FERRYMOUNT INVE 355,606,232 2.7086728 Foreign Entity
New Incentive Shares without 8,986,668 100 3,621 Indonesia Stock 04 April 2016
3 31/12/2023 BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD 328,763,371 2.5042092 Foreign Entity Pre-emptive Rights in the Exchange
4 31/12/2023 MORGAN STANLEY AND CO INTL PLC - IPB CLI 230,845,198 1.7583609 Foreign Entity framework of Long-Term
5 31/12/2023 DBS BANK LTD SG S/A FERRYMOUNT INVESTMEN 177,803,117 1.3543364 Foreign Entity Incentive 2010-2015 Grant
Date VI
6 31/12/2023 CITIBANK NEW YORK S/A GOVERNMENT OF NORW 130,200,000 0.9917408 Foreign Entity
Limited Public Offering II with 2,137,592,085 100 3,150 Indonesia Stock 20 May 2016
7 31/12/2023 CITIBANK NEW YORK S/A GOVERNMENT OF NORW 79,663,800 0.6068037 Foreign Entity
Pre-emptive Rights Exchange
8 31/12/2023 REKSA DANA SUCORINVEST EQUITY FUND 76,257,100 0.5808547 Mutual Funds
New Incentive Shares without 18,052,107 100 2,285 Indonesia Stock 01 April 2020
9 31/12/2023 PT. PRUDENTIAL LIFE ASSURANCE - REF 63,817,609 0.4861023 Insurance Pre-emptive Rights in the Exchange
10 31/12/2023 JPMCB NA RE - VANGUARD EMERGING MARKETS 61,412,108 0.4677795 Foreign Entity framework of Long-Term
11 31/12/2023 JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL 60,089,458 0.4577048 Foreign Entity Incentive 2016-2020 Grant
Date II
12 31/12/2023 PT ELANG MAHKOTA TEKNOLOGI 55,688,000 0.4241787 Limited Liability Company
New Incentive Shares without 18,662,246 100 2,328 Indonesia Stock 09 March 2021
13 31/12/2023 CGS-CIMB SECURITIES (SINGAPORE) PTE LTD 50,329,445 0.3833622 Foreign Entity
Pre-emptive Rights in the Exchange
14 31/12/2023 CHANDRA ADISUSANTO, IR 49,976,200 0.3806715 Individual Indonesia framework of Long-Term
15 31/12/2023 REKSA DANA MANULIFE DANA SAHAM 47,144,100 0.3590993 Mutual Funds Incentive 2016-2020 Grant
16 31/12/2023 CITIBANK NEW YORK S/A EMERGING MARKETS 46,930,445 0.3574719 Foreign Entity
Date III
17 31/12/2023 UOB KAY HIAN PRIVATE LIMITED AC CLIENTS 44,570,500 0.3394960 Foreign Entity Limited Public Offering III with 2,403,755,889 100 2,080 Bursa Efek 20 December
Pre-emptive Rights Indonesia 2022
18 31/12/2023 SIX SIS LTD 44,000,000 0.3351505 Foreign Entity
19 31/12/2023 STATE STREET BANK-ISHARES CORE MSCI EMER 43,042,900 0.3278602 Foreign Entity
20 31/12/2023 AGGRESSIVE EKUITAS -857124000 41,120,485 0.3132171 Insurance
324 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 325
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
ORGANISATIONAL
ORGANISATIONAL STRUCTURE
STRUCTURE
President Director
& CEO
Director & CCO
Director & Chief
Director & Director & Director & Home &
Enterprise Bus. &
CCO Consumer Chief Technology Chief Finance Convergence
Corp. Affairs
Chief Chief Chief
Chief Chief GTM Chief IT, Digital, Chief
Enterprise Corporate Human
Marketing & Analytics Home Business
Business Affairs Capital
GH Indirect GH IT Strategy GH Technology GH Enterprise
GH Mass GH Commercial GH Finance GH Home Product GH Corporate GH People Corporate
Channel Planning & Strategy & Product & GH Legal
Segment GTM & Marketing Strategy Journey Secretary
Management Architect Assurance Marketing
GH National &
GH Direct GH IT Business GH Home
GH Mass RGH West GH Network GH Financial GH Strategic Strategic GH Regulatory & GH People GH Internal
Channel Partner & Project Business
Segment Planning & Design Accounting Partnership Enterprise Gov Relations Development Audit
Management Management Operations
Account
GH Digital GH Program GH Finance GH Regional GH People GH Transformation
GH Mass GH IT Core GH Digital GH Corporate
RGH Jabo Channel Management Business Enterprise Services & Facility Project
Segment Platform Partnership Communication
Touch Point Control Account Management
GH Digital GH Service GH Solution &
GH Commerce GH Procurement GH Risk &
RGH Central Touchpoint Operation Technical Account
Planning Management Compliance
Management Management
GH IT Digital
GH Customer GH Contract GH Wholesale &
RGH East Operations
Contact Center Management Reseller
GH Customer Value GH Technology
& Experience Security & Risk
Management Control
GH Analytics &
Data Management
326 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 327
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
CORPORATE STRUCTURE SUBSIDIARIES, ASSOCIATES
AND JOINT VENTURES
Amanah Raya Citigroup Nominees
Khazanah Nasional Trustees Berhad - (Tempatan) Sdn. Bhd
Others
Berhad Amanah Saham - Employee Provident
33.02%
36.73% Bumiputera Fund Board
12.45% 17.80%
Axiata Group
Berhad*
*Controlling
Shareholders
Axiata Investment TOTAL ASSETS
(Labuan) limited SHAREHOLDING PER 31 DECEMBER OPERATIONAL
NAME ADDRESS CORE BUSINESS
100% PERCENTARGE 2023 STATUS
(RP MILLION)
Managed Service
Raya Graha Hyper, Jl. Provider and
PT Hipernet
Makaliwe No. 24-24A 51% Information 270,821 Active
Indodata
Jakarta Barat, DKI Jakarta Technology
Service
Axiata Investment Public
Treasury Shares (Indonesia) (Shareholders PT Link Net Centennial Tower Lt. Internet Services
0.43% Sdn. Bhd below 5%) Tbk 26 Unit D, Jl. Jenderal 20% Provider and Active
66.25% 33.32% Gatot Subroto Kav. 24- Cable TV 12,636,280
25 Jakarta Selatan, DKI
Jakarta
PT Princeton Menara Astra, Jalan Activities relating
Digital Jenderal Sudirman 10.71% to hosting and Active
2,394,315
Group Data Kaveling P&K V Nomor 6 managing data
Centres Jakarta Pusat, DKI Jakarta centres
PT XL Axiata Tbk
PT One Gedung Indosat Lantai 9 Computer
Indonesia Jl. Medan Merdeka Barat 50% consultancy Not Active
0
Synergy No. 21 Gambir, Jakarta and facility
Pusat management
PT One Indonesia PT Hipernet
PT Link Net Tbk
Synergy Indodata
20%
50% 51%
328 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 329
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
PUBLIC ACCOUNTANT & CAPITAL MARKET SUPPORTING
PUBLIC ACCOUNTANT FIRMS INSTITUTIONS & PROFESSIONS
The Public Accountant is an independent third Company through the AGMS dated 5 May 2023
party appointed by XL to audit and assess whether has appointed Lok Budianto, S.E., Ak., CPA as
the financial statements present fairly, in all material public accountant and Public Accounting Firm
respects, the financial position of PT XL Axiata Tanudiredja, Wibisana, Rintis & Rekan (a member
Tbk as of 31 December 2023, and the financial of the PricewaterhouseCoopers networks of firms)
performance and cash flows for the year ended in as Public Accounting Firm to audit the Company’s
accordance with Financial Accounting Standards in financial statements for the Financial Year ended 31
Indonesia. December 2023 and other audits required by the Ginting & Reksodiputro
PT Datindo Entrycom
Company.
Legal Consultant
Jl. Hayam Wuruk No.28 in association
The procedure for appointing an Accountant and/or Jakarta 10120 with Allen & Overy
Share Registrar
Public Accountant Firm has been carried out based The AGMS also fully authorized the Board of Directors The Energy Building,
on the Financial Services Authority Regulation No. of the Company to determine the honorarium and Lantai 15
13/POJK.03/2017 where the Accountant and/or other requirements for the appointment of the Sudirman Central
Public Accountant Firm must be decided by the public accountant, subject to approval from the Business District
Annual General Meeting of Shareholders (AGMS) Company’s Board of Commissioners. Jl. Jendral Sudirman
based on recommendations from the Board of Kav. 52 – 53
Jakarta 12190
Commissioners made by considering the proposal
from the Company’s Audit Committee.
Public Accountants and Public Accounting Firms that Audit Annual Financial
PT Fitch Ratings Indonesia
Securities Rating Agency
Statements for the Last 5 Years
DBS Tower 24th Floor,
Suite 2403
ASSIGNMENT
PERIOD
2023 2022 2021 2020 2019 2018 Jl. Prof. Dr. Satrio Kav. 3-5
Jakarta 12920
Andry D. Andry D. Andry D. Eddy
Name of Public Lok Budianto, Lok Budianto, S.E.,
Atmadja, S.E., Atmadja, Atmadja, S.E., Rintis,
Accountant S.E., Ak., CPA Ak., CPA
Ak., CPA S.E., Ak., CPA Ak., CPA S.E., CPA
Public Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan
Accountant Firm (a member firm of PricewaterhouseCoopers global network)
PT Bank Mega Tbk
Name, Address & Fees Menara Bank Mega,
Jl. Kapten Tendean
ASSIGNMENT Kav. 12-14A
NAME & ADDRESS SERVICES PROVIDED FEES (RP)
Trustee
YEAR
Jakarta 12790
Public Accounting Firm Tanudiredja, Wibisana, Financial Statements 12,500,000,000 2023
Rintis & Rekan Audit
(a member firm of PricewaterhouseCoopers Kantor Notaris Aulia
global network) WTC 3, Jl. Jend. Sudirman Kav Taufani, S.H.
29-31 Jakarta 12920- Indonesia Menara Sudirman
Public Notary
Public Accounting Firm Tanudiredja, Wibisana, Financial Statements 420,000,000 2023 Lantai 17 D,
Rintis & Rekan Audit of Subsidiary - Jl. Jenderal Sudirman
(a member firm of PricewaterhouseCoopers PT Hipernet Indodata Kav. 60,
global network) WTC 3, Jl. Jend. Sudirman Kav Jakarta Selatan 12190
29-31 Jakarta 12920- Indonesia
As of December 31, 2023, Public Accountant Firm Tanudiredja, Wibisana, Rintis & Rekan has not provided
any non-audit services.
330 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 331
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
OPERATIONAL MAP
OPERATIONAL MAP
BARAT
HQ & JABO
PUSAT
TIMUR
HQ & JABO
XL AXIATA TOWER
Jl. H.R Rasuna Said X5 Kav.11-12, Kuningan
Timur, Setiabudi, Jakarta Selatan 12950
WEST
DIPONEGORO MEDAN
Jl. Diponegoro No.5, Medan,
Sumatera Utara
CENTRAL
MARTADINATA
Jl. R.E Martadinata No 7, Bandung
Jawa Barat
EAST
PEMUDA
Jl. Pemuda No 94-98 Kelurahan Embong
Kaliasin, Kecamatan Genteng, Surabaya,
Jawa Timur
332 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 333
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
XL CENTERS
NO. DAILY REPORT NAME STORE NAME REGION ADDRESS
16 XL Center Klaten XL Center Klaten Central Jalan Sersan Sadikin No. 81B Gergunung
Klaten Utara
17 XL Center Garut XL Center Garut Central Jl. Guntur No 162c Garut Jawa Barat 44116
18 XL Center Tegal XL Center Tegal Central Jl. Gajah Mada No. 28 Tegal
19 XL Center Indramayu XL Center Indramayu Central Jl. D.I. Panjaitan No. 44B, Indramayu
20 XL Center Cirebon XL Center Cirebon Central Jl. Tuparev No. 87 Kelurahan Sutawinangun,
Kecamatan Kedawung, Kabupaten Cirebon,
Jawab Barat 45153
21 XL Center Kuningan XL Center Kuningan Central Jalan Siliwangi No 293 Cijoho Kec. Kuningan,
Kab, Kuningan, Jawa Barat 45513
22 XLC at Erafone TSM XLC at Erafone TSM Central Trans Studio Mall Lt 1, Jl. Gatot Subroto
Bandung Bandung No.289, Cibangkong, Kec. Batununggal, Kota
XL CENTERS 23 XLC at Erafone Plaza
Ambarukmo Yogya
XLC at Erafone Plaza
Ambarukmo Yogya
Central
Bandung, Jawa Barat 40273
Ambarukmo Plaza Lantai LG Jl. Laksda
Adisucipto, No. 28, Kledokan, Caturtunggal,
Kec. Depok, Kabupaten Sleman, Daerah
Istimewa Yogyakarta 55281, Indonesia.
NO. DAILY REPORT NAME STORE NAME REGION ADDRESS 24 XL Center Madiun XL Center Madiun East Ruko Suncity Block A1-A3 Kartoharjo Madiun
Jawa Timur
JL Bayangkara No 81, Penumping, Laweyan,
1 XL Center Solo XL Center Solo Central 25 XL Center Malang XL Center Malang East Ruko Grand Sukarno Hatta kav 27-28 Malang
Surakarta (Barat Stadion Sriwedari)
26 XL Center Kendari XL Center Kendari East Jl. Bunggasi (eks Kantor bank Mandiri), Kel.
2 XL Center Kudus XL Center Kudus Central Komplek Sudirman Square B9 Jl. Jend
Andounohu, Kec. Poasia, Kota Kendari
Sudirman no 101, Kudus Jawa Tengah
27 XL Center Gorontalo XL Center Gorontalo East Jln. Delima Kelurahan Libuo Kecamatan
3 XL Center Pekalongan XL Center Pekalongan Central Jl. Hasanuddin no 39, Kota Pekalongan
Dungingi, Kota Gorontalo
4 XL Center Semarang XL Center Semarang Central Jl A. Yani No. 130 B Semarang
28 XL Center Palu XL Center Palu East Jl. Emmy Saelan No.68-B, Kel Tatura utara, Kec
5 XL Center Magelang XL Center Magelang Central Jl Jendral Gatot Soebroto, Ruko Grand Palu Selatan, Kota Palu
Cawang N 3 Pakelan, Mertoyudan, Magelang,
29 XL Center Makassar XL Center Makassar East Jl. A.P. Pettarani No. 68 Tamamaung, Kec.
Jawa Tengah, 56172
Panakkukang, Kota Makassar, Sulawesi Selatan
6 XL Center Cianjur XL Center Cianjur Central Jl.Ir.H.Juanda No.38 Kp.Panembong 1 Rt 02 Rw 90222
03 Desa Mekarsari Kec. Cianjur Kab.Cianjur
30 XL Center Manado XL Center Manado East Jl. Yos Sudarso No 8 (Ruko Orchard), Paal Dua,
7 XL Center Cimahi XL Center Cimahi Central Jl. HMS Mintaredja Ruko Town Place No. A-20, Kec. Tikala, Kota Manado
Cimahi
31 XL Center Sumbawa XL Center Sumbawa East Jl. DR. Wahidin No 8A, Brang Bara, Kec.
8 XL Center Tasikmalaya XL Center Central Jl. Dr. Sukardjo No. 51, Tawangsari, Sumbawa Besar, Kabupaten Sumbawa, Nusa
Tasikmalaya Kec. Tawang, Tasikmalaya Tenggara Bar. 84313
9 XL Center Purwakarta XL Center Purwakarta Central Jl. Ibrahim Singadilaga No. 16 Purwakarta 32 XL Center Selong XL Center Selong East Jl. KH. Ahmad Dahlan No. 05, Pancor,
Kec. Selong, Kab. Lombok Timur, Nusa
10 XL Center Ramdan XL Center Ramdan Central Jl. Moch. Ramdan No.31B, Ancol, Kec. Regol,
Tenggara Barat
Kota Bandung, Jawa Barat 40254
33 XL Center Mataram XL Center Mataram East Epicentrum Mall – Lantai 1, Jl. Sriwijaya
11 XL Center Bandung XL Center Bandung Central Jl. RE. Martadinata No. 7, Bandung
No. 333, Punia, Kec. Mataram, Kota Mataram,
12 XL Center Purwokerto XL Center Central Jl. RA Wiryaatmaja No. 18B Purwokerto Nusa Tenggara Barat – 83127
Purwokerto (Sebelah Bank BTPN)
34 XL Center Cellular World XL Center Cellular East Cellular World Teuku Umar, Jl. Teuku Umar
13 XL Center Kebumen XL Center Kebumen Central Jl. Kusuma No.70 - Gunungmujil, Bumirejo - World No. 60 Lt2 Denpasar Bali 80113
Kec. Kebumen - Kabupaten Kebumen - Jawa
35 XL Center Singaraja XL Center Singaraja East Jl. Dewi Sartika Utara 56, Kaliuntu Singaraja,
Tengah 54316
kode pos 81116 (sebelah kantor V-cool Cabang
14 XL Center Wonogiri XL Center Wonogiri Central Jl. Ahmad Yani No. 43 Kel. Wonokarto Kec. Singaraja)
Wonogiri - Wonogiri 57612 Jawa Tengah
36 XL Center Sunset Road XL Center Sunset East Jl. Sunset Road No. 818, Kuta, Denpasar
15 XL Center Yogyakarta XL Center Yogyakarta Central Puri Vads (Ex Stockwell) Jl. Laksda Adi Sucipto Road
No 163 (Lt. 1) (Dpn Kampus Uin) Yogyakarta
37 XL Center Pamekasan XL Center Pamekasan East Jl. Jokotole No 282 Pamekasan
334 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 335
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CORPORATE DATA Fast-Tracking with Agility, & Resilience
XL CENTERS XL CENTERS
NO. DAILY REPORT NAME STORE NAME REGION ADDRESS NO. DAILY REPORT NAME STORE NAME REGION ADDRESS
38 XL Center Bangkalan XL Center Bangkalan East Ruko Khayangan Residence RB-06, Jl. Halim 58 XL Center Cikarang XL Center Cikarang Jabo Jl Niaga Raya Ruko CBD Kav AA Blok C 9
Perdana Kusuma, Kec. Bangkalan, Kab. Jababeka 2 PT Synergy Komunikasi Indonesia
Bangkalan, Jawa Timur 69116
59 XL Center Karawang XL Center Karawang Jabo Komplek Ruko Broadway Blok 3 No. 19
39 XL Center Villa Bukit Mas XL Center Villa Bukit East Ruko Villa Bukit Mas, Jl. Abdul Wahab Siamin Galuh Mas, Karawang (Samping Pom Bensin
Mas Blok RN-07 Surabaya Galuh Mas)
40 XL Center Plasa Marina XL Center Plasa East Plasa Marina Lt.1 Blok A1-A3, Jl. Margorejo 60 XL Center Sunter XL Center Sunter Jabo Sunter Permai Indah Blok A18,
Marina Indah No.97-99 Surabaya Jl. Mitra Sunter Boulevard, Jakarta Utara
41 XL Center Pemuda XL Center Pemuda East Jl. Pemuda No. 94 - 98, Surabaya 61 XL Center Mall Kelapa XL Center Mall Kelapa Jabo Mal Kelapa Gading 1, Lt. Dasar Blok G 1
Surabaya Surabaya Gading Gading No 66 A, Jl. Boulevard Kelapa Gading Blok M,
Kelapa Gading Permai
42 XL Center Sumenep XL Center Sumenep East Jl. KH. Mansyur No. 51 Pangarangan, Sumenep
62 XL Center Puri Indah Mall XL Center Puri Indah Jabo Puri Indah Mal Lt. 1 (Phone & Computer
43 XL Center Sidoarjo XL Center Sidoarjo East Jl. Jenggolo No. 2i-2j, Kab. Sidoarjo (Sebelah
Mall Centre), Jl. Puri Agung, Jakarta Barat
kiri sebelum Flyover)
63 XL Center Gandaria City XL Center Gandaria Jabo Gandaria City Mall 1st Floor Jl. Sultan Iskandar
44 XL Center Grand XL Center Grand Jabo East Mall Grand Indonesia Lantai 3A – IS 03,
City Muda, Kebayoran Lama Utara, Kebayoran
Indonesia Indonesia Jl. MH Thamrin No. 1, Menteng, Jakarta Pusat
Lama, Jakarta Selatan, DKI Jakarta
45 XL Center Sukabumi XL Center Sukabumi Jabo Jl.Pajagalan Ruko Danalaga Square Blok.G
64 XL Center Depok XL Center Depok Jabo Ruko Margonda Residence Jl. Margonda Raya
No.8 Sukabumi
Margonda Margonda No 2-3, Depok
46 XL Center Roxy XL Center Roxy Jabo Komplek Ruko Roxy Mas Blok C4/3, Jalan KH
65 XL Center Bogor XL Center Bogor Jabo Jl. Jendral Sudirman No.48, Bogor
Ashari No 34, RW.8, Cideng, Gambir, Kota
Jakarta Pusat, Daerah Khusus Ibukota Jakarta 66 XL Center Cibinong XL Center Cibinong Jabo Ruko Cibinong City Centre blok C.35
10150, Indonesia Jl Tegar Beriman No 1 Cibinong Kab. Bogor
47 XL Center Central Park XL Center Central Jabo Central Park Mall, Lantai 4 unit 232-233. Jl. Let. 67 XL Center Ciputra World XL Center Ciputra Jabo Lotte Ciputra World Lantai 4 No.15A
Park Jend S. Parman Kav 28 Jakarta Barat 11470 World Jl. Prof. Dr. Sabturio Kuningan - Jakarta Selatan
48 XL Center Axiata Tower XL Center Axiata Jabo Jl. H. R. Rasuna Said No.Kav. X-2 No. 5, RT.9/ 68 XL Center Fatmawati XL Center Fatmawati Jabo Komplek Ruko Dutamas Fatmawati B2 No. 11,
Tower RW.4, East Kuningan, Setiabudi, South Jakarta Jl. RS. Fatmawati Raya, Kec. Kebayoran Baru,
City, Jakarta 12950 Kota Jakarta Selatan, DKI Jakarta
49 XL Center Pondok Indah XL Center Pondok Jabo Jl. Metro Pondok Indah Kav. IV/TA Pondok 69 XLC Rawamangun XLC Rawamangun Jabo Jln pemuda kav.69 No. 1-2 blok A Kelurahan
Mall 1 Indah Mall 1 Indah Mall 1 Lt. 2 No. 232 & 233 Jakarta Jati Kec. Pulogadung Kodya Jaktim Samping
Selatan Plaza Telkom pemuda
50 XL Center Bekasi XL Center Bekasi Jabo Komp. Ruko Bekasi Mas Blok N No. 7, 70 XLC ITC Cempaka Mas XLC ITC Cempaka Jabo ITC Cempaka Mas L4/C. 00158 Jl. Letjend
Jl. Ahmad Yani, Bekasi (Depan Rs Mitra Bekasi Mas Suprapto No.Kav. 1, RW.8, Sumur Batu, Kec.
Barat) Kemayoran, Kota Jakarta Pusat, 10640
51 XL Center Cilegon XL Center Cilegon Jabo Kompleks Ruko Mega Cilegon Blok D No. 5& 6 71 XL Center Palangkaraya XL Center West Jl. Dr Murjani No.22B (seberang CIMB Niaga)
JL SA Tirtayasa Simpang Tiga Cilegon. Kode Palangkaraya Panarung Pahandut Palangka Raya
Pos: 42414
72 XL Center Pontianak XL Center Pontianak West Jl. Gusti Hamza (sebelah JNT Pancasila)
52 XL Center Rangkas XL Center Rangkas Jabo Komp. Ruko Mall Barata Blok A 8 Pontianak
Bitung Bitung Jl. Rd. Hardiwinangun No. 54 Rangkasbitung
73 XL Center Banjarmasin XL Center West Jl. Jend. Ahmad Yani Km 1, 5 No. 30A,
53 XL Center Serang XL Center Serang Jabo Jl. Trip Jamaksari No. 12A Cinaggung Serang - Banjarmasin Banjarmasin 70233, Kalimantan Selatan
Banten
74 XL Center Balikpapan XL Center Balikpapan West Jl. Jenderal Sudirman Komplek Ruko BSB
54 XL Center BSD XL Center BSD Jabo PT Prima Multi Usaha Indonesia, Komplek ruko Block F-21, Kota Balikpapan, Kalimantan Timur
Tangerang Tangerang bidex blok F 11-12, Jl. Pahlawan Seribu Serpong 76113
Tangsel Banten
75 XL Center Samarinda XL Center Samarinda West Jl.bhayangkara RT.02 No.02 Kel.Bugis Kec.
55 XL Center Bintaro XL Center Bintaro Jabo Bintaro Xchange Mall Lower Ground, Boulevard Samarinda Kota 75242 (Ruko Orenz pertama
Xchange Xchange Bintaro Jaya Blok. O-2, Bintaro Jaya Sektor Bhayangkara)
VIII, Pondok Jaya, Pondok Aren, Tangerang,
76 XL Center Bangka XL Center Bangka West Jl. Raya Koba Villa Bangka Asri Blok B No. 1-2,
Banten
Bangka - Pangkal Pinang
56 XL Center Supermal XL Center Supermal Jabo Super Mall Karawaci, Lower Ground Blok A3A
77 XL Center Belitung XL Center Belitung West Jl.brigjen katamso No. 5 depan bundaran tugu
Karawaci Karawaci No. 9-10, e -center, Lippo Karawaci
satam, Tanjung pandan - Belitung
57 XL Center Tangerang XL Center Tangerang Jabo Tangerang City Mall LG Floor, Blok 0038-S
78 XL Center Palembang XL Center Palembang West Jln. Angkatan 45 No 818, Kel. Demang Lebar
City City Jl. Jend. Sudirman No. 1, Cikokol Tangerang
Daun, Kec. Ilir Barat 1 Kotamadya Palembang,
15117
Sumatera Selatan 30137
336 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 337
Page 171
CORPORATE DATA Fast-Tracking with Agility, & Resilience
CORPORATE WEBSITE
XL CENTERS
INFORMATION
NO. DAILY REPORT NAME STORE NAME REGION ADDRESS
79 XL Center Manggar XL Center Manggar West Jl. Tugu Warkop Desa baru kec. Manggar
kab. Belitung timur
80 XL Center Pematang XL Center Pematang West Jl. Sutomo No. 8 kel. Pahlawan, Kec. Siantar
Siantar Siantar Tim.Kota Pematang Siantar Sumatera Utara
21132 In compliance with the Financial Services
81 XL Center Banda Aceh XL Center Banda West Jl. Mr. Dr. Mohd. Hasan, Batoh, Lueng Bata, Authority Regulation No. 8/POJK.04/2015
Aceh Landom, Lueng Bata, Kota Banda Aceh, Aceh
23122, Samping Service Centre Samsung dan regarding the Website of Issuers or Public
Bank Mandiri
82 XL Center Medan XL Center Medan West Jl. Diponegoro No. 5, Kel. Petisah Tengah,
Companies, XL Axiata has already in place a
Kec. Medan Petisah, Medan 20112 corporate website that contains information
83 XL Center Lampung XL Center Lampung West Jl. Jendral Sudirman No. 23 A, Kel. Enggal, Kec.
Tanjungkarang Pusat, Kota Bandar Lampung
related to the Company accessible by the
84 XL Center Dumai XL Center Dumai West Jl. Sudirman Laut No. 212 Kec Dumai Timur public through www.xlaxiata.co.id. The
https://www.xlaxiata.co.id/
(Depan Hotel Cititel) information contained on the Company’s
85 XL Center Pekanbaru XL Center Pekanbaru West Jl. Nangka Ujung No. 819 Labuh Baru Barat,
Payung Sekaki-Pekanbaru 28291 website is as follows:
86 XL Center Bengkulu XL Center Bengkulu West Gedung PT BERKAH KARUNIA KREASI,
Jln. Jenderal Sudirman No. 57 Kel.Tengah
Padang, Bengkulu
87 XL Center Bukittinggi XL Center Bukittinggi West Jl. Tengku Umar No. 12 C Kampung Cina Kel.
Benteng Pasar Atas Kec. Guguk Panjang NO DESCRIPTION COMPLY NOT COMPLY
88 XL Center Padang XL Center Padang West Jl. Dr. Sutomo No. 48, Simpang Haru,
Kec. Padang Timur, Kota Padang, Sumatera 1 Website address should reflect the Company’s Identities
Barat (Sebelah J&T)
N
2 Website content should be in Indonesia and other foreign language (English at
89 XL Center Tanjung XL Center Tanjung West Jl D.I Panjaitan Komplek Bintan Center Blok D N
Pinang Pinang No. 46, Tanjung Pinang, KEPRI minimum) with the same information at each language used.
90 XL Center Jambi XL Center Jambi West Jln. Yunus Sanis No. 80-81 (Depan Puskesmas 3 The Company’s website must provide information at minimum on the following
Kebun Handil) Kel. Kebun Handil, Kec. Jelutung, matters:
Kota Jambi › General Information on Company;
› Information for Investor and shareholders
91 XL Center Batam XL Center Batam West JL Engku Puteri Komp. Ruko Seruni Indah Blok
I No. 3 Batam Center
› Information on Good Corporate Governance N
› Information pertaining with Corporate Social Responsibility.
92 XLC at Erafone Medan XLC at Erafone West Plaza Medan Fair, Jl. Gatot Subroto No. 17-18,
fair Medan fair Sei Putih Tengah, Kec. Medan Petisah, Kota The above information must be disclosed in accurate, clear, easy to understand,
Medan, Sumatera Utara 20111 not misleading on Company’s condition as well as able to be accessed by public.
4 General Information on Company must provide at minimum the following
information:
› Name of the Company, contact details (phone numbers, fax, email) including
all branch offices.
› Company’s History.
› Organisational Structure
› The Company’s shares ownership consists of (i) detail of shareholders i.e.
name, ownership percentage on monthly basis (ii) Information on controlling N
shareholders (Axiata) and (iii) Information on Company’s Subsidiaries.
› Profile of the Board of Directors, Board of Commissioners, Committees and
Corporate Secretary which shall include photos, name, CV and concurrent
positions in other companies.
› List of Company’s supporting institutions i.e. Share Register, Accountant.
› Articles of Association.
338 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 339
Page 172
CORPORATE DATA Fast-Tracking with Agility, & Resilience
CORPORATE WEBSITE INFORMATION
NO DESCRIPTION COMPLY NOT COMPLY
5 Information for Investor and shareholders must include at minimum the following
information:
› Annual and Interim Financial Statement for the last five financial years.
› Financial Information.
› General Meeting of Shareholders (GMS). The Information covering (i)
announcement, (ii) Meeting material (iii) CV of proposed BOD and/or BOC
(iv) Summary of GMS result.
› Shares Information covering (i) total shares (ii) Shares split (if any) (iii) Bonus N
shares (if any) (iv) changes of shares nominal.
› Information pertaining with Bonds and Sukuk, covering (i) Outstanding
Bonds/Sukuk (ii) Rating Result (iii) Period (iv) Interest Rate.
› Dividend Information.
› Corporate Actions.
› Disclosure on Material Facts.
6 Information on Good Corporate Governance must include at minimum the
following information:
› Board Manual
› Internal Audit Charter
› Terms of reference of Committees.
› Notice on appointment and/or resignation of members of audit Committee. N
› Nominating and Remuneration Procedure
› Risk Management Policy
› Whistleblowing Policy
› Anti-Corruption Policy
› Procurement Policy
7 Information on Corporate Social Responsibility must include at minimum the
following information:
› Policy N
› Program and cost of implementation
DISCLAIMER
DISCLAIMER – FORWARD-LOOKING STATEMENTS:
XL Axiata may, in this document, make certain statements that are not historical facts and
relate to analyses and other information which are based on forecasts of future results and
estimates of amounts not yet determinable. These statements may also relate to our future
prospects, developments and business strategies. Words such as “believe”, “anticipate”,
“expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”, “forecast” and
“project” and similar expressions are intended to identify such forward looking statements,
FINANCIAL
but are not the exclusive means of identifying such statements. By their very nature, forward-
looking statements involve inherent risks and uncertainties, both general and specific,
and there are risks that the predictions, forecasts, projections and other forward-looking
statements will not be achieved. If one or more of these risks materialise, or should underlying
assumptions prove incorrect, our actual results may differ materially from those anticipated.
STATEMENTS
Forward- looking statements apply only as of the date on which they are made, and we do
not undertake any obligation to update or revise any of them, whether as a result of new
information, future events or otherwise.
340 PT. XL Axiata Tbk | Integrated Annual Report 2023 PT. XL Axiata Tbk | Integrated Annual Report 2023 341
Page 173
PT XL AXIATA Tbk DAN ENTITAS ANAK/AND SUBSIDIARY LAPORAN KEUANGAN KONSOLIDASIAN/ CONSOLIDATED FINANCIAL STATEMENTS 31 DESEMBER/DECEMBER 2023 DAN/AND 2022
Page 174
Page 175
Page 176
Page 177
Page 178
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 1/1 - Page Halaman - 1/2 - Page
LAPORAN POSISI KEUANGAN CONSOLIDATED LAPORAN POSISI KEUANGAN CONSOLIDATED
KONSOLIDASIAN STATEMENTS OF FINANCIAL POSITION KONSOLIDASIAN STATEMENTS OF FINANCIAL POSITION
31 DESEMBER 2023 DAN 2022 AS AT 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 AS AT 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali nilai nominal per saham) except par value per share) kecuali nilai nominal per saham) except par value per share)
Catatan/ Catatan/
2023 Notes 2022 2023 Notes 2022
LIABILITAS LIABILITIES
ASET ASSETS
Liabilitas jangka pendek Current liabilities
Aset lancar Current assets Utang usaha Trade payables
Kas dan setara kas 966,027 3,29b 5,184,113 Cash and cash equivalents - Pihak ketiga 9,137,540 10 11,064,092 Third parties -
Piutang usaha Trade receivables - Pihak berelasi 244,960 10,29e 273,191 Related parties -
- Pihak ketiga 870,104 4 491,557 Third parties - Utang pajak 28b Taxes payable
- Pihak berelasi 515,681 29c 246,612 Related parties - - Pajak penghasilan badan 57,820 4,135 Corporate income tax -
Piutang lain-lain Other receivables - Pajak lainnya 129,367 149,589 Other taxes -
Beban yang masih harus dibayar 632,905 11 563,303 Accrued expenses
- Pihak ketiga 15,892 32,976 Third parties -
Pendapatan tangguhan 2,704,845 12 2,944,168 Deferred revenue
- Pihak berelasi 32,928 29d 80,724 Related parties - Liabilitas imbalan kerja Short-term employee
Persediaan 377,884 408,178 Inventories jangka pendek 305,275 367,320 benefit liabilities
Pajak dibayar dimuka 28a Prepaid taxes Provisi 52,582 17 65,944 Provisions
- Pajak penghasilan badan 52,122 74,960 Corporate income tax - Bagian lancar dari Current portion of
- Pajak lainnya 30,572 3,455 Other taxes - pinjaman jangka panjang: long-term borrowings:
Beban dibayar dimuka 4,125,471 5 3,708,021 Prepayments - Liabilitas sewa 6,022,836 14,29f 5,296,565 Lease liabilities -
Aset lain-lain 186,830 6 177,762 Other assets - Pinjaman 415,892 13 5,342,445 Loans -
- Sukuk ijarah 397,965 15 148,869 Sukuk ijarah -
- Utang obligasi 39,997 16 130,879 Bonds payable -
Jumlah aset lancar 7,173,511 10,408,358 Total current assets
Jumlah liabilitas jangka pendek 20,141,984 26,350,500 Total current liabilities
Aset tidak lancar Non-current assets
Piutang lain-lain Other receivables Liabilitas jangka panjang Non-current liabilities
- Pihak berelasi 208,537 29d 201,652 Related parties - Liabilitas sewa 29,790,610 14,29f 26,553,293 Lease liabilities
Aset tetap 63,890,454 7 60,473,629 Fixed assets Pinjaman jangka panjang 5,609,008 13 2,411,205 Long-term loans
Aset takberwujud 6,453,886 8 5,988,468 Intangible assets Sukuk ijarah 1,964,422 15 2,360,826 Sukuk ijarah
Investasi pada entitas asosiasi 2,533,736 9 2,750,218 Investment in associates Utang obligasi 1,677,304 16 1,715,691 Bonds payable
Pendapatan tangguhan 211,840 12 627,481 Deferred revenue
Beban dibayar dimuka 44,258 5 71,151 Prepayments
Liabilitas pajak tangguhan 609,719 28d 532,601 Deferred tax liabilities
Goodwill 6,915,592 38 6,915,592 Goodwill Liabilitas imbalan kerja Long-term employee
Aset pajak tangguhan 6,873 28d 5,779 Deferred tax assets jangka panjang 239,859 17 183,025 benefit liabilities
Aset lain-lain 461,237 6 462,933 Other assets Imbalan kontinjensi 23,113 37 23,113 Contingent consideration
Provisi 915,449 17 745,819 Provisions
Jumlah aset tidak lancar 80,514,573 76,869,422 Total non-current assets
Jumlah liabilitas jangka panjang 41,041,324 35,153,054 Total non-current liabilities
Jumlah aset 87,688,084 87,277,780 Total assets
EKUITAS EQUITY
Modal saham - modal dasar Share capital - authorised capital
22.650.000.000 saham biasa, of 22,650,000,000 ordinary
modal ditempatkan dan disetor shares, issued and fully paid
penuh 13.128.430.665 of capital 13,128,430,665
saham biasa, dengan nilai ordinary shares, with par value
nominal Rp 100 per saham 1,312,843 18 1,312,843 of Rp 100 per share
Tambahan modal disetor 16,914,496 19 16,914,496 Additional paid-in capital
Saham treasuri (134,445) 18 (134,445) Treasury shares
Saldo laba Retained earnings
- Telah ditentukan penggunaannya 1,300 21 1,200 Appropriated -
- Belum ditentukan penggunaannya 8,266,167 7,549,052 Inappropriated -
26,360,361 25,643,146
Kepentingan non-pengendali 144,415 131,080 Non-controlling interest
JUMLAH EKUITAS 26,504,776 25,774,226 TOTAL EQUITY
JUMLAH LIABILITAS DAN EKUITAS 87,688,084 87,277,780 TOTAL LIABILITIES AND EQUITY
Catatan atas laporan keuangan konsolidasian merupakan The accompanying notes form an integral part of Catatan atas laporan keuangan konsolidasian merupakan The accompanying notes form an integral part of
bagian tak terpisahkan dari laporan keuangan these consolidated financial statements. bagian tak terpisahkan dari laporan keuangan these consolidated financial statements.
konsolidasian secara keseluruhan. konsolidasian secara keseluruhan.
Page 179
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 2/1 - Page Halaman - 2 - Page
LAPORAN LABA RUGI DAN CONSOLIDATED STATEMENTS OF PROFIT OR LAPORAN LABA RUGI DAN CONSOLIDATED STATEMENTS OF PROFIT OR
PENGHASILAN KOMPREHENSIF LAIN LOSS AND OTHER PENGHASILAN KOMPREHENSIF LAIN LOSS AND OTHER
KONSOLIDASIAN COMPREHENSIVE INCOME KONSOLIDASIAN COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali laba bersih per saham dasar) except basic earnings per share) kecuali laba bersih per saham dasar) except basic earnings per share)
Catatan/ Catatan/
2023 Notes 2022 2023 Notes 2022
Pendapatan 32,322,651 23,29g 29,141,994 Revenues Laba yang diatribusikan kepada: Profit attributable to:
- Pemilik entitas induk 1,271,113 1,109,440 Owners of the parent -
Beban Expenses - Kepentingan nonpengendali 13,335 11,748 Non-controlling interest -
Beban penyusutan (11,347,758) 7 (10,569,622) Depreciation expenses
Beban infrastruktur (8,995,646) 24a,29i (7,733,947) Infrastructure expenses 1,284,448 1,121,188
Beban interkoneksi dan Interconnection and
beban langsung lainnya (3,172,220) 25,29h (2,876,477) other direct expenses Jumlah laba komprehensif Total comprehensive income
Beban penjualan dan pemasaran (2,454,775) 8,24b (2,617,998) Sales and marketing expenses yang diatribusikan kepada: attributable to:
Beban gaji dan kesejahteraan Salaries and employee - Pemilik entitas induk 1,266,238 1,159,922 Owners of the parent -
karyawan (1,402,242) 26,29m (1,325,529) benefits expenses - Kepentingan nonpengendali 13,335 11,748 Non-controlling interest -
Beban umum dan administrasi (413,040) 24c,29j (352,698) General and administrative expenses
Beban amortisasi (157,216) 8 (7,567) Amortisation expenses 1,279,573 1,171,670
Keuntungan/(kerugian) selisih Foreign exchange
kurs - bersih 12,977 (61,295) gain/(loss) - net Laba bersih per saham Basic and diluted earnings
Keuntungan dari penjualan Gain from sale and dasar dan dilusian 98 22 105 per share
dan sewa-balik 424,062 7 446,805 leaseback
Lain-lain (80,900) (28,807) Others
(27,586,758) (25,127,135)
4,735,893 4,014,859
Biaya keuangan (2,939,979) 27,29l (2,777,385) Finance cost
Penghasilan keuangan 100,096 29k 111,718 Finance income
Bagian atas (rugi)/laba bersih dari Share of (loss)/profit from
entitas asosiasi (191,493) 3,838 associates
(3,031,376) (2,661,829)
Laba sebelum pajak penghasilan 1,704,517 1,353,030 Profit before income tax
Beban pajak penghasilan (420,069) 28c (231,842) Income tax expense
Laba tahun berjalan 1,284,448 1,121,188 Profit for the year
(Rugi)/laba komprehensif lainnya Other comprehensive (loss)/income
yang tidak direklasifikasi not to be reclassified
ke dalam laba rugi to profit or loss
Pengukuran kembali program Remeasurement of defined
pensiun manfaat pasti (6,250) 17b 64,721 benefit plan
Beban pajak penghasilan Related income tax
terkait 1,375 28d (14,239) expense
(Rugi)/laba komprehensif Other comprehensive
lainnya tahun berjalan, (loss)/income for
setelah pajak (4,875) 50,482 the year, net of tax
Jumlah laba komprehensif 1,279,573 1,171,670 Total comprehensive income
Catatan atas laporan keuangan konsolidasian merupakan The accompanying notes form an integral part of Catatan atas laporan keuangan konsolidasian merupakan The accompanying notes form an integral part of
bagian tak terpisahkan dari laporan keuangan these consolidated financial statements. bagian tak terpisahkan dari laporan keuangan these consolidated financial statements.
konsolidasian secara keseluruhan. konsolidasian secara keseluruhan.
Page 180
Other comprehensive loss,
Balance as at 31 December 2023
Acquisition of non-controlling
Issuance of new shares
Share issuance cost
Profit for the year
Profit for the year
Balance as at 1 January 2022
Balance as at 31 December 2022
Dividends
Other comprehensive income,
Dividends
Appropriated retained
Appropriated retained
PT XL AXIATA Tbk
31 DECEMBER 2023 AND 2022
(Expressed in millions of Rupiah)
CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY FOR THE YEAR ENDED
net of tax
earnings
interest in subsidiary
net of tax
earnings
DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 4/1 - Page
LAPORAN ARUS KAS CONSOLIDATED
KONSOLIDASIAN STATEMENTS OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
The accompanying notes form an integral part of
kecuali nilai nominal per saham) except par value per share)
these consolidated financial statements.
(549,023)
(4,875)
(61,256)
(544,078)
1,284,448
20,088,745
4,999,813
25,774,226
26,504,776
119,332
1,121,188
50,482
-
-
Catatan/
2023 Notes 2022
Jumlah/
Total
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS OPERASI OPERATING ACTIVITIES
131,080
13,335
144,415
119,332
11,748
-
-
-
-
-
-
-
-
-
Non-controlling
nonpengendali/
Penerimaan dari pelanggan Receipts from customers
Kepentingan
interests
dan operator lain 31,477,327 28,959,543 and other operators
Pembayaran kepada Payments for suppliers
pemasok dan beban lain (13,811,715) (13,417,451) and other expenses
Pembayaran kepada karyawan (1,421,867) (1,318,418) Payments to employees
(549,023)
(4,875)
(61,256)
(544,078)
20,088,745
4,999,813
25,643,146
26,360,361
1,109,440
50,482
1,271,113
-
-
-
Jumlah/
Total
Kas yang dihasilkan dari operasi 16,243,745 14,223,674 Cash generated from operations
Pembayaran pajak penghasilan Payments of corporate
DAN ENTITAS ANAK/AND SUBSIDIARY
badan dan pajak final (246,814) 28c (228,431) income tax and final tax
penggunaannya/ penggunaannya/
(549,023)
(4,875)
(100)
(544,078)
(100)
6,933,308
7,549,052
8,266,167
1,109,440
50,482
1,271,113
-
-
-
Inappropriated
Penghasilan keuangan Finance income
ditentukan
Saldo laba/Retained earnings
Belum
yang diterima 98,607 109,252 received
PT XL AXIATA Tbk
Halaman - 3 - Page
Arus kas bersih yang diperoleh Net cash flows generated
dari aktivitas operasi 16,095,538 14,104,495 from operating activities
1,100
1,200
100
1,300
100
-
-
-
-
-
-
-
-
-
Appropriated
ditentukan
Telah
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS INVESTASI INVESTING ACTIVITIES
Pembelian aset tetap (10,424,633) (8,831,071) Acquisition of fixed assets
(134,445)
(134,445)
(134,445)
-
-
-
-
-
-
-
-
-
-
-
Penerimaan dividen dari Dividend received from
Treasury
treasuri/
entitas asosiasi 24,990 106,239 associate
Saham
shares
Penerimaan dari penjualan menara 12,088 7 72,869 Proceed from sale of tower
Penerimaan dari aset tetap Proceeds from sale of
tak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
yang dijual 10,955 7 104,130 fixed assets
(61,256)
Catatan atas laporan keuangan konsolidasian merupakan bagian
12,216,315
4,759,437
16,914,496
16,914,496
-
-
-
-
-
-
-
-
-
Akuisi entitas Acquisition of new
Tambahan
Additional
asosiasi baru - 32 (2,641,518) associate
disetor/
paid-in
capital
modal
Akuisisi entitas anak, setelah Acquisition of subsidiary net
dikurangi kas yang diperoleh - 37 (329,309) of cash acquired
Penerimaan dari penjualan Proceed from sale of
aset tertentu - 19,723 certain assets
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN
1,072,467
240,376
1,312,843
1,312,843
-
-
-
-
-
-
-
-
-
-
Penerimaan dari Proceeds from insurance
saham/
capital
Modal
Share
klaim asuransi - 7 3,473 claims
Arus kas bersih yang digunakan Net cash flows used in
untuk aktivitas investasi (10,376,600) (11,495,464) investing activities
Catatan/
Notes
18,19
20
21
20
21
UNTUK TAHUN YANG BERAKHIR
(Dinyatakan dalam jutaan Rupiah)
31 DESEMBER 2023 DAN 2022
Akuisisi kepentingan non-pengendali
Saldo per 31 Desember 2023
Saldo per 31 Desember 2022
ditentukan penggunaannya
ditentukan penggunaannya
Laba komprehensif lainnya,
Rugi komprehensif lainnya,
Saldo per 1 Januari 2022
Biaya penerbitan saham
Penerbitan saham baru
Saldo laba yang telah
Saldo laba yang telah
pada entitas anak
Laba tahun berjalan
Laba tahun berjalan
setelah pajak
setelah pajak
Dividen
Dividen
Catatan atas laporan keuangan konsolidasian merupakan The accompanying notes form an integral part of
bagian tak terpisahkan dari laporan keuangan these consolidated financial statements.
konsolidasian secara keseluruhan.
Page 181
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 4/2 - Page Halaman - 5/1 - Page
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
UNTUK TAHUN-TAHUN YANG BERAKHIR STATEMENTS OF CASH FLOWS KONSOLIDASIAN STATEMENTS
31 DESEMBER 2023 DAN 2022 FOR THE YEARS ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
(Dinyatakan dalam jutaan Rupiah, 31 DECEMBER 2023 DAN 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
kecuali nilai nominal per saham) (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
except par value per share) kecuali dinyatakan lain) unless otherwise stated)
Catatan/ 1. UMUM 1. GENERAL
2023 Notes 2022
a. Pendirian dan informasi umum a. Establishment and general information
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS PENDANAAN FINANCING ACTIVITIES PT XL Axiata Tbk (“Perusahaan”) yang PT XL Axiata Tbk (the “Company”) which was
Pembayaran pinjaman sebelumnya bernama PT Excelcomindo previously known as PT Excelcomindo
jangka panjang (5,180,000) 13 (4,740,000) Repayment of long-term loans Pratama Tbk., pertama kali didirikan dengan Pratama Tbk., was initially established under
Pembayaran bunga pinjaman Payment for interest from nama PT Grahametropolitan Lestari. the name PT Grahametropolitan Lestari. The
jangka panjang (380,999) (525,402) long-term loans Perusahaan berkedudukan hukum di Jakarta Company has its legal domicile in Jakarta and
Pembayaran pokok Payment for lease dan didirikan sesuai dengan peraturan was established as a limited liability company
liabilitas sewa (4,327,247) 30c (4,162,419) liabilities principal perundang-undangan yang berlaku di Negara under the laws of the Republic of Indonesia
Pembayaran bunga Payment of lease Republik Indonesia berdasarkan Akta Pendirian under Deed of Establishment No. 55 dated
liabilitas sewa (2,388,416) 30c (1,763,241) liabilities interest Perseroan Terbatas No. 55 tanggal 6 October 1989, as amended by Deed No. 79,
Penerimaan dari penjualan Proceed from sale and 6 Oktober 1989, sebagaimana diubah dengan dated 17 January 1991. The preparation of
dan sewa balik 41,628 7 375,627 leaseback transaction Akta Perubahan No. 79 tanggal both deeds was overseen by Rachmat
Pembayaran bunga Payment of bonds payables 17 Januari 1991. Keduanya dibuat di hadapan Santoso, S.H., a notary in Jakarta. The deeds
utang obligasi (143,509) (66,191) interest Rachmat Santoso, S.H., Notaris di Jakarta. were approved by the Minister of Justice of the
Pembayaran imbal hasil ijarah (205,464) (178,694) Payment for ijarah return Akta-akta tersebut memperoleh persetujuan Republic of Indonesia in the Minister’s
Pembayaran sukuk ijarah (149,000) 15 (677,000) Payment for sukuk ijarah dari Menteri Kehakiman Republik Indonesia Decision Letter No. C2-515.HT.01.01.TH.91
Pembayaran utang obligasi (131,000) 16 (191,000) Payment for bonds payables berdasarkan Surat Keputusan Menteri dated 19 February 1991, registered in the
Penerimaan bersih pinjaman Net proceed from No. C2-515.HT.01.01.TH.91 tanggal District Court of South Jakarta under
jangka panjang 3,477,945 13 4,455,318 long-term loans 19 Februari 1991, didaftarkan di Pengadilan No. 670/Not/1991/PN.JKT.SEL and
Penerimaan dari sukuk ijarah - 15 1,500,000 Proceeds from sukuk ijarah Negeri Jakarta Selatan No. 671/Not/1991/PN.JKT.SEL, dated
Penerimaan dari utang obligasi - 16 1,500,000 Proceeds from bonds payable No. 670/Not/1991/PN.JKT.SEL dan 21 August 1991, and published in the State
Pembayaran dividen kas (549,023) 20 (544,078) Payment for cash dividends No. 671/Not/1991/PN.JKT.SEL, tanggal Gazette of the Republic of Indonesia No. 90,
Biaya penerbitan sukuk ijarah - (6,164) Sukuk ijarah issuance cost 21 Agustus 1991, dan diumumkan dalam Berita Supplement No. 4070, dated
Biaya penerbitan utang obligasi - (6,684) Bonds payable issuance cost Negara Republik Indonesia No. 90, Tambahan 8 November 1991.
Penerimaan dari penerbitan saham - 19 4,999,812 Proceed of Issuance of rights No. 4070, tanggal 8 November 1991.
Biaya penerbitan saham - (61,256) Share issuance cost
Anggaran Dasar Perusahaan telah mengalami The Company’s Articles of Association have
Arus kas bersih yang digunakan Net cash flows used in beberapa kali perubahan. Perubahan terakhir been amended several times. The latest
untuk aktivitas pendanaan (9,935,085) (91,372) financing activities Anggaran Dasar Perusahaan adalah amendment of the Company’s Articles of
sebagaimana dimuat dalam Akta Pernyataan Association is as stated in the Deed of
(Penurunan)/kenaikan bersih Net (decrease)/increase in Keputusan Rapat No. 25 tanggal 11 Januari Statement of Meeting Resolution No. 25 dated
kas dan setara kas (4,216,147) 2,517,659 cash and cash equivalents 2024 yang dibuat di hadapan Aulia Taufani, 11 January 2024 which was made before Aulia
S.H., Notaris di Jakarta mengenai perubahan Taufani, S.H., a notary in Jakarta in respect of
Kas dan setara kas Cash and cash equivalents kegiatan usaha berupa penambahan bidang changes in business activities in the form of
pada awal tahun 5,184,113 2,664,387 at the beginning of the year usaha. Perubahan ini telah disetujui oleh additional business sectors. This amendment
Menteri Hukum dan Hak Asasi Manusia has been approved by the Minister of Law and
Dampak perubahan selisih kurs Effect of exchange rate changes Republik Indonesia berdasarkan Keputusan Human Rights of the Republic of Indonesia
terhadap kas dan setara kas (1,939) 2,067 on cash and cash equivalents Menteri Hukum dan Hak Asasi Manusia based on the Decision of the Minister of Law
Republik Indonesia No. AHU- and Human Rights of the Republic of
Kas dan setara kas Cash and cash equivalents 0009189.AH.01.11.Tahun 2024 tanggal 15 Indonesia No. AHU-0009189.AH.01.11.Tahun
pada akhir tahun 966,027 3 5,184,113 at the end of the year Januari 2024. 2024 dated 15 January 2024.
Axiata Investments (Indonesia) Sdn. Bhd., The Company’s majority shareholder, Axiata
pemegang saham mayoritas Perusahaan Investments (Indonesia) Sdn. Bhd., is a wholly
merupakan entitas anak yang dimiliki owned subsidiary of Axiata Investments
sepenuhnya oleh Axiata Investments (Labuan) (Labuan) Limited. Axiata Investments (Labuan)
Limited. Axiata Investments (Labuan) Limited Limited is a subsidiary of Axiata Group
adalah entitas anak Axiata Grup Berhad. Berhad.
Kantor pusat Perusahaan terletak di XL Axiata The Company’s head office is currently located
Tower, Jl. H.R. Rasuna Said X-5 Kav. 11-12, at XL Axiata Tower, Jl. H.R. Rasuna Said X-5
Kuningan Timur, Setiabudi, Jakarta Selatan Kav. 11-12, Kuningan Timur, Setiabudi, South
12950, Indonesia. Jakarta 12950, Indonesia.
Catatan atas laporan keuangan konsolidasian merupakan The accompanying notes form an integral part of
bagian tak terpisahkan dari laporan keuangan these consolidated financial statements.
konsolidasian secara keseluruhan.
Page 182
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 5/2 - Page Halaman - 5/3 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued) 1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran umum efek b. The Company’s public offerings c. Ijin investasi c. Investment licence
Nilai nominal Sesuai dengan Anggaran Dasar, tujuan In accordance with its Articles of Association,
per saham Pencatatan Perusahaan adalah melakukan kegiatan dalam the Company’s purpose is to provide
Jumlah saham/ Nominal value saham/ Tanggal/
Total shares per share Share register Date
usaha penyelenggaraan jasa telekomunikasi telecommunications services and/or
dan/atau jaringan telekomunikasi dan/atau telecommunications networks and/or
Penawaran saham umum perdana dan 1,427,500,000 100 Bursa Efek Indonesia 29 September 2005 multimedia. Perusahaan memulai operasi multimedia services. The Company
tercatat di Bursa Efek Indonesia/ komersialnya di tahun 1996 dan oleh karenanya commenced its commercial operations in
Initial Public Stock Offering Perusahaan telah memiliki perizinan-perizinan 1996 and therefore the Company has
Penawaran Umum Terbatas I (“PUT I”) 1,418,000,000 100 Bursa Efek Indonesia 16 November 2009
sebagaimana dipersyaratkan oleh Badan obtained licences as required by Investment
dalam rangka penerbitan Hak Memesan Koordinasi Penanaman Modal (“BKPM”). Coordination Board (“BKPM”).
Efek Terlebih Dahulu (“HMETD”)/
Limited Public Offering I (“LPO I”) in Sehubungan dengan telah diselesaikannya In relation completion of the merger with AXIS,
respect of a rights issue with penggabungan usaha dengan AXIS, the Company has obtained Principle License
Pre-emptive Rights
Perusahaan memperoleh Izin Prinsip of Merger of Capital Investment No. 3/1/IP-
Penerbitan saham baru tanpa 24,091,727 100 Bursa Efek Indonesia 14 April 2011 Penggabungan Perusahaan Penanaman Modal PP/PMA/2014 dated 7 April 2014 and
memberikan HMETD sebagai No. 3/1/IP-PP/PMA/2014 tanggal 7 April 2014 License of Merger of Foreign Capital
pelaksanaan Program Insentif dan Izin Usaha Penggabungan Perusahaan Investment No. 7/1/IU-PP/PMA/2014, dated
Jangka Panjang 2010 - 2015/ Penanaman Modal Asing 25 November 2014.
Incentive Shares without Pre-emptive
Rights in the framework of Long Term
No. 7/1/IU-PP/PMA/2014 tanggal
Incentive Program 2010 - 2015 25 November 2014.
Penerbitan saham melalui mekanisme 26,500,000 100 Bursa Efek Indonesia 10 Maret/March 2016 Perusahaan memperoleh Izin Pendaftaran The Company obtained Licence of
penerbitan saham tanpa HMETD Penanaman Modal Asing Registration of Foreign Investment
sebagai pelaksanaan Program Insentif
Jangka Panjang 2016 - 2020/
No. 580/1/PI/PMA/2018 tanggal No. 580/1/PI/PMA/2018 dated
Incentive Shares without Pre-emptive 20 Februari 2018 untuk aktivitas telekomunikasi 20 February 2018 for telecommunication
Rights in the framework of Long Term dengan kabel serta memperoleh Izin activities with cable as well as obtaining
Incentive Program 2016 - 2020 Penyelenggaraan Jaringan Telekomunikasi Licence of Telecommunication Network for
Penanaman Modal Asing No. Foreign Investment No. 2168/1/IU/PMA/2018
Penerbitan saham melalui mekanisme 2,137,592,085 100 Bursa Efek Indonesia 25 Mei/May 2016
Penawaran Umum Terbatas II
2168/1/IU/PMA/2018 tanggal dated 28 June 2018 for telecommunication
(“PUT II”)tahun 2016 dengan HMETD/ 28 Juni 2018 untuk aktivitas telekomunikasi activities with cable.
Share issuance through Limited Public dengan kabel.
Offering II ("LPO II") Year 2016 in
respect of a rights issue with d. Ijin penyelenggaraan d. Operating licence
Pre-emptive Rights
Penerbitan saham melalui mekanisme 2,403,755,889 100 Bursa Efek Indonesia 20 Desember/ Perusahaan dan entitas anak pada prinsipnya The Company and its subsidiary are
Penawaran Umum Terbatas III December 2022 menyelenggarakan jasa teleponi dasar melalui principally involved in the provision of basic
(“PUT III”) tahun 2022 dengan HMETD/ jaringan bergerak selular, Jasa Akses Internet telephony services on cellular mobile network,
Share issuance through Limited Public (“ISP”), Jasa Penyelenggaraan Jaringan Tetap Internet Services Provider (“ISP”), Closed
Offering II ("LPO III") Year 2022 in
respect of a rights issue with
Tertutup (“JARTUP”), Jaringan Tetap Lokal Fixed Network Services (“JARTUP”), Packet
Pre-emptive Rights Packet Switched (“JARTAPLOK Packet Switched Local Fixed Network Licence
Switched”)Jasa Internet Teleponi untuk (“JARTAPLOK Packet Switched”), Internet
Lihat Catatan 15 dan 16 untuk informasi See Notes 15 and 16 for information related Keperluan Publik (“ITKP”), Jasa Interkoneksi Telephony Service for Public Interest Licence
penerbitan Sukuk Ijarah dan Obligasi. to Sukuk Ijarah and Bonds issuance. Internet (“NAP”), , Jasa Internet Service (“ITKP”), Internet Interconnection Services
Provider (“ISP”) dan Jasa Penyediaan Konten. (“NAP”), Internet Service Provider (“ISP”)
Untuk setiap ijin, evaluasi dilakukan setiap lima andContent Provider Service. For every
tahun. Sebagai tambahan, Perusahaan dan licence, an evaluation is performed every five
entitas anak juga mendapatkan ijin-ijin lainnya. years. In addition, the Company and its
subsidiary also obtained various other
licences.
Page 183
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 5/4 - Page Halaman - 5/5 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued) 1. UMUM (lanjutan) 1. GENERAL (continued)
d. Ijin penyelenggaraan (lanjutan) d. Operating licence (continued) d. Ijin penyelenggaraan (lanjutan) d. Operating licence (continued)
Rincian dari ijin-ijin tersebut adalah sebagai Details of these licences are as follows: Rincian dari ijin-ijin tersebut adalah sebagai Details of these licences are as follows:
berikut: berikut: (lanjutan) (continued)
Tanggal penetapan atau Tanggal penetapan atau
perpanjangan terakhir/ perpanjangan terakhir/
Jenis jasa/ Grant date or Jenis jasa/ Grant date or
Ijin/License No. ijin/License no. Type of service latest renewal date Ijin/License No. ijin/License no. Type of service latest renewal date
PT XL Axiata Tbk PT Hipernet Indodata
Ijin Penyelenggaraan Jaringan Kepmenkominfo No.091 Jaringan Bergerak Selular 23 Desember/December Ijin Penyelenggaraan Jasa 170/TEL.02.02/2019 Jasa Multimedia and Sistem 28 Mei/May 2019
Bergerak Selular/License to Tahun 2019, No. 056/ (meliputi 3GPP 900,DCS 2019, 21 Juni/ Telekomunikasi/ Komunikasi Data/
Operate Cellular Mobile TEL.01.02/06/2021, 1800, IMT 2000 dan 2100 June 2021, License to Operate Multimedia and
Network No. 107/TEL.01.02/2021, Mhz) termasuk Jaspondas, 17 Desember/ Telecommunication Data Communication
No. 026/TEL.01.02/2022 Teknologi Netral/Cellular December 2021, Services Systems
Mobile Network (including 28 Januari/
3GPP 900, DCS 1800, January 2022 Ijin Penyelenggaraan Jasa 848 Tahun 2014 Jasa Akses Internet/Internet 22 September 2014
IMT 2000 and 2100 Akses Internet/ Services Provider (“ISP”)
Mhz), Basic Telephony License to Operate
Services, Neutral Internet Access Services
Technology (“ISP”)
Ijin Penyelenggaraan Jaringan Kepmenkominfo No.034/ Jaringan Tetap Tertutup/ 3 April 2021 PT AXIS Telekom Indonesia (“AXIS”), yang PT AXIS Telekom Indonesia (“AXIS”), which
Tetap Tertutup/License to TEL.01.02/2021 Closed Fixed Network diakuisisi pada tanggal 19 Maret 2014 (lihat was acquired on 19 March 2014 (see Note
Operate Closed Fixed (“JARTUP”) Catatan 38), memperoleh Lisensi Modern 38), obtained the new Modern License to
Network (“JARTUP”) terbaru untuk mengoperasikan jasa operate mobile telecommunication services
Ijin Penyelenggaraan Jasa Kepmenkominfo No.416/ Jasa Sistem Komunikasi 29 November 2019
telekomunikasi bergerak berdasarkan Surat based on the Decree of Minister of
Sistem Komunikasi Data/ TEL.02.02/2019 jo Data/Data Communication efektif/effective Keputusan Menteri Komunikasi dan Teknologi Communication and Information Technology
License to Operate Data SKLO 298/TEL.04.02/ System on 26 Juni/ Informasi No. 425/KEP/M.KOMINFO/07/2012 No. 425/KEP/M.KOMINFO/07/2012 dated
Communication System 2020 June 2020 tanggal 4 Juli 2012, yang mencakup: 4 July 2012, which covers the following:
a. Jaringan bergerak telekomunikasi GSM a. Mobile telecommunication network of
Ijin Penyelenggaraan Kepmenkominfo No.005/ Jaringan Tetap Lokal Packet 27 April 2018
900/DCS 1800; GSM 900/DCS 1800;
Jaringan Tetap Lokal TEL.01.02/2018 Switched/Packet Switched b. Jaringan bergerak telekomunikasi IMT- b. Mobile telecommunication network of IMT-
Packet Switched/ Local Fixed Network 2000/3G; dan 2000/3G; and
License to Operate Packet (“JARTAPLOK Packet c. Jasa telekomunikasi dasar. c. Basic telecommunication services.
Switched Local Fixed Switched”)
Network (“JARTAPLOK
Packet Switched”)
Setelah persetujuan Menteri Komunikasi dan Following the Minister of Communication and
Informatika atas permohonan rencana akuisisi Information approval of the acquisition
Ijin Penyelenggaraan Jasa Kepdirjen PPI Kominfo Jasa Penyediaan Konten/ 7 Agustus/August 2014 atas AXIS yang dilanjutkan dengan proposal on AXIS followed by the merger of
Penyediaan Konten/ No.234 Tahun 2014 Content Providing Service dan/and 31 Oktober/ penggabungan usaha Perusahaan dan AXIS, the Company and AXIS, the Minister of
License to Operate dan/and October 2017 Menteri Komunikasi dan Informatika Communication and Information stipulated the
Content Providing Service Kepmenkominfo
1940 Tahun 2017
mengeluarkan penetapan alokasi spektrum 2G allocation of spectrum to the Group which
frekuensi GSM900/DCS 1800 dan spektrum 3G were 2G frequency GSM900/DCS 1800 and
Ijin Penyelenggaraan Jasa Kepmenkominfo No.1039 Jasa Interkoneksi Internet/ 16 Mei/May 2017 dan/and frekuensi IMT-2000. Surat Keputusan Menteri 3G frequency IMT-2000. The decision letter
Interkoneksi Internet/ Tahun 2017 dan/and Internet Interconnection 31 Oktober/October 2017 Komunikasi dan Informatika No. 592 tahun from Minister Communication and Information
License to Operate Kepmenkominfo No.1038 Services (“NAP”) 2014 pada tanggal 3 Juni 2014, menetapkan No. 592 Year 2014 dated 3 June 2014
Internet Interconnection Tahun 2017
Services (“NAP”)
alokasi spektrum pada lokasi blok 8, 9 dan 10 confirmed the spectrum allocated to the
untuk Perusahaan. Company which were at block locations 8, 9
Ijin Penyelenggaraan Jasa Kepdirjen PPI Kominfo Jasa Internet Teleponi untuk 21 Oktober/October 2016 and 10.
Internet Teleponi untuk No. 172 Tahun 2016 Keperluan Publik (”ITKP”)/ dan/and
Keperluan Publik (“ITKP”)/ dan/and Voice over Internet 31 Oktober/October 2017
License to Operate VoIP Kepmenkominfo Protocol (“VoIP”)
No.1039 Tahun 2017
Ijin Penyelenggaraan Jasa Kepdirjen PPI Kominfo Jasa Akses Internet/Internet 21 November 2013 dan/and
Akses Internet/ No. 395 Tahun 2013 Services Provider (“ISP”) 31 Oktober/October 2017
License to Operate dan/and
Internet Access Services Kepmenkominfo No.1037
(“ISP”) Tahun 2017
Page 184
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 5/6 - Page Halaman - 5/7 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued) 1. UMUM (lanjutan) 1. GENERAL (continued)
e. Dewan Komisaris, Dewan Direksi dan e. Board of Commissioners, Board of e. Dewan Komisaris, Dewan Direksi, Komite e. Board of Commissioners, Board of
Komite Audit, Kepala Audit Internal dan Directors, Audit Committee, Head of Audit, Kepala Audit Internal dan Sekretaris Directors, Audit Committee, Head of
Sekretaris Perusahaan Internal Audit and Corporate Secretary Perusahaan (lanjutan) Internal Audit and Corporate Secretary
(continued)
Susunan Dewan Komisaris dan Dewan Direksi The composition of the Company’s Board of
Perusahaan pada tanggal 31 Desember 2023 Commissioners and Board of Directors as at Komite Audit Perusahaan dibentuk pada The Company’s Audit Committee was
adalah sebagaimana dimuat dalam Akta 31 December 2023 is as stated in the Deed of tanggal 28 Februari 2005. Susunan Komite established on 28 February 2005. The
Pernyataan Keputusan Rapat No. 24 tanggal Resolution No. 24 dated 11 January 2024, Audit per tanggal 31 Desember 2023 dan 2022 composition of the Audit Committee as at
11 Januari 2024 yang dibuat di hadapan Aulia made before Aulia Taufani, S.H., Notary in adalah sebagai berikut: 31 December 2023 and 2022 is as follows:
Taufani, S.H., Notaris di Jakarta, yang telah Jakarta, which has been received and
diterima dan dicatat dalam Sistem Administrasi registered in the Legal Entity Administration 2023 dan/and 2022
Badan Hukum dan mendapatkan bukti System and obtained the notification receipt
penerimaan dari Menteri Hukum dan Hak Asasi No. AHU-01.09-0017879 dated 15 January Ketua Julianto Sidarto Chairman
Manusia Republik Indonesia berdasarkan surat 2024, issued by the Minister of Law and
No. AHU-AH.01.09-0017879 tanggal Human Rights of the Republic of Indonesia. Anggota: Muliadi Rahardja Members:
15 Januari 2024. Benny Redjo Setyono
Nita Skolastika Ruslim
Susunan Dewan Komisaris dan Dewan Direksi The composition of the Company’s Board of
Perusahaan pada tanggal 31 Desember 2023 Commissioners and Board of Directors as at
Pada tanggal 31 Desember 2023 dan 2022, As at 31 December 2023 and 2022, Head of
dan 2022 adalah sebagai berikut: 31 December 2023 and 2022 is as follows:
Kepala Audit Internal Perseroan masing-masing Internal Audit of the Company are Mohammad
2023 2022 adalah Mohammad Abdul Kader Bhuyan dan Abdul Kader Bhuyan and Vierna Suryaningsih,
Dewan Komisaris Board of Commissioners Vierna Suryaningsih. Sekretaris Perseroan respectively. Corporate Secretary is Ranty
adalah Ranty Astari Rachman. Astari Rachman.
Presiden Komisaris Dr. Muhamad Dr. Muhamad President Commissioner
Chatib Basri Chatib Basri f. Entitas anak f. Subsidiary
Komisaris: Vivek Sood Vivek Sood Commissioners: Laporan keuangan konsolidasian ini meliputi The consolidated financial statements include
Dr. David Dr. David laporan keuangan Perusahaan dan entitas anak the accounts of the Company and its direct
Robert Dean1 Robert Dean yang dimiliki secara langsung (secara kolektif subsidiary (collectively referred hereafter as
Dr. Hans Dr. Hans selanjutnya disebut "Grup"). Pada tanggal the “Group”). On 2 June 2022, the Company
Wijayasuriya Wijayasuriya 2 Juni 2022, Perusahaan mengakuisisi entitas acquired subsidiary, PT Hipernet Indodata,
anak, PT Hipernet Indodata, yang bergerak di which provides managed and information
Komisaris Independen: Yasmin Stamboel Yasmin Stamboel Independent Commissioners: bidang managed service dan jasa teknologi technology services and has operated
Wirjawan Wirjawan informasi dan telah beroperasi secara komersial commercially since 2007, with 51% of effective
Muliadi Rahardja Muliadi Rahardja sejak tahun 2007, dengan persentase direct ownership by the Company (see Note
Julianto Sidarto Julianto Sidarto kepemilikan efektif oleh Perusahaan sebesar 37). The subsidiary is domiciled in Indonesia.
Dewan Direksi Board of Directors 51% (lihat Catatan 37). Entitas anak berdomisili
di Indonesia.
Presiden Direktur Dian Siswarini Dian Siswarini President Director
Direktur: Abhjit Jayant Abhijit Jayant Directors:
Navalekar Navalekar
Yessie D. Yosetya Yessie D.Yosetya
David Arcelus Oses David Arcelus Oses
Feiruz Ikhwan bin Budi Pramantika2
Abdul Malek2 I Gede Darmayusa
I Gede Darmayusa
1) Dr. David Robert Dean telah menyampaikan permohonan 1) Dr. David Robert Dean submitted his resignation as
pengunduran diri sebagai Komisaris Perseroan pada Commissioner of the Company on 25 September
tanggal 25 September 2023. Pengunduran diri tersebut 2023. The resignation will be processed and effective
akan diproses dan berlaku efektif dengan mengacu by referring to the provisions on the Company’s
kepada ketentuan Anggaran Dasar Perseroan. Articles of Association.
2) Pengunduran Diri Bapak Budi Pramantika selaku Direktur 2) Resignation of Budi Pramantika as Director of the
Perseroan serta pengangkatan Bapak Feiruz Ikhwan Company and the appointment of Feiruz Ikhwan bin
Bin Abdul Malek selaku Direktur Perseroan telah Abdul Malek as Director of the Company has been
disetujui pada Rapat Umum Pemegang Saham approved in the Annual General Meeting of
Tahunan pada tanggal 5 Mei 2023. Shareholders on 5 May 2023.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
INFORMATION (lanjutan) INFORMATION (continued)
Laporan keuangan konsolidasian ini diotorisasi oleh The consolidated financial statements were a. Dasar penyusunan laporan keuangan a. Basis for preparation of the consolidated
Dewan Direksi pada tanggal 9 Februari 2024. authorised by the Board of Directors on konsolidasian (lanjutan) financial statements (continued)
9 February 2024.
Mata uang fungsional dan penyajian Functional and presentation currency
a. Dasar penyusunan laporan keuangan a. Basis for preparation of the consolidated (lanjutan) (continued)
konsolidasian financial statements
Angka-angka dalam laporan keuangan Figures in the consolidated financial
Berikut ini adalah informasi kebijakan akuntansi Presented below are the material accounting konsolidasian ini dibulatkan menjadi jutaan statements are rounded in millions of Rupiah,
material yang diterapkan dalam penyusunan policy information applied in the preparation of Rupiah, kecuali dinyatakan lain. unless otherwise stated.
laporan keuangan konsolidasian Grup yang the consolidated financial statements of the
disusun dan disajikan berdasarkan Standar Group in accordance with Indonesian Financial Perubahan atas Pernyataan Standar Changes to the statements of financial
Akuntansi Keuangan di Indonesia yang Accounting Standards which comprise Akuntansi Keuangan (“PSAK”) accounting standards (“SFAS”)
mencakup Pernyataan Standar Akuntansi Statements of Financial Accounting Standards
Keuangan ("PSAK") dan Interpretasi Standar ("SFAS") and Interpretation of Financial Standar akuntansi revisian berikut, yang relevan The following revised accounting standards,
Akuntansi Keuangan ("ISAK") yang diterbitkan Accounting Standards (“IFAS”) issued by untuk Grup, berlaku efektif sejak tanggal which are relevant to the Group, are effective
oleh Ikatan Akuntan Indonesia dan Peraturan Institute of Indonesian Chartered Accountant 1 Januari 2023 dan tidak memiliki pengaruh from 1 January 2023 and do not result in
Badan Pengawas Pasar Modal dan Lembaga and the Capital Market and Financial material terhadap laporan keuangan material impact to the Group’s consolidated
Keuangan ("BAPEPAM-LK") No. VIII.G.7 Institution Supervisory Agency ("BAPEPAM- konsolidasian Grup: financial statements:
tentang Penyajian dan Pengungkapan Laporan LK")’s Regulation No. VIII.G.7 regarding the - Amendemen PSAK 1 “Penyajian Laporan - Amendment to SFAS 1 “Presentation of
keuangan konsolidasian Emiten atau Presentations and Disclosures of consolidated Keuangan” Financial Statements”
Perusahaan Publik, yang terlampir dalam surat financial statements of listed entities, enclosed - Amendemen PSAK 16 ”Aset Tetap” - Amendment to SFAS 16 “Fixed Assets”
keputusan No. KEP-347/BL/2012. Peraturan in the decision letter No. KEP-347/BL/2012. - Amendemen PSAK 25 ”Kebijakan - Amendment to SFAS 25 “Accounting
tersebut sekarang merupakan regulasi dari The regulation is now a regulation under the Akuntansi, Perubahan Estimasi Akuntansi Policies, Changes in Accounting Estimates
Otoritas Jasa Keuangan ("OJK"). Indonesian Financial Services Authority dan Kesalahan” and Errors”
("OJK"). - Amendemen PSAK 46 ”Pajak Penghasilan” - Amendment to SFAS 46 “Income Tax”
Laporan keuangan konsolidasian, kecuali untuk The consolidated financial statements, except Standar akuntansi revisian berikut yang telah The following revised accounting standards
akun-akun tertentu yang disusun berdasarkan for certain accounts which are prepared on diterbitkan dan relevan untuk Grup berlaku issued and relevant to the Group are effective
pengukuran lainnya yang dideskripsikan dalam other measurement described in the efektif sejak tanggal 1 Januari 2024 dan belum from 1 January 2024 and have not been early
kebijakan akuntansi terkait dan laporan arus respective accounting policy and the diterapkan secara dini oleh Grup: adopted by the Group:
kas konsolidasian, disusun dengan konsep statements of cash flows, have been prepared - Amendemen PSAK 1 “Penyajian Laporan - Amendment to SFAS 1 “Presentation of
harga perolehan dan dasar akrual. on the historical cost concept and accrual Keuangan” Financial Statements”
basis. - Amendemen PSAK 73 ”Sewa” - Amendment to SFAS 73 “Leases”
Laporan arus kas konsolidasian disusun The consolidated statements of cash flows are Pada tanggal pengesahan laporan keuangan As at the authorisation date of these
dengan menggunakan metode langsung dan prepared using the direct method and present konsolidasian Grup sedang mempertimbangkan consolidated financial statements, the Group is
menyajikan sumber dan penggunaan kas dan the sources and uses of cash and cash implikasi dari penerapan standar-standar assessing the implication of the above
setara kas dengan mengelompokkan arus kas equivalents according to operating, investing tersebut, terhadap laporan keuangan standards, to the Group’s consolidated
atas dasar kegiatan operasi, investasi dan and financing activities. Cash and cash konsolidasian Grup. financial statements.
pendanaan. Kas dan setara kas terdiri dari kas, equivalents consist of cash on hand, cash in
bank dan deposito berjangka yang jatuh tempo banks and deposits with original maturities of Efektif sejak tanggal 1 Januari 2024, referensi Effective from 1 January 2024, references to
dalam waktu tiga bulan atau kurang. three months or less. terhadap masing-masing PSAK dan ISAK akan the individual SFAS and IFAS will be changed
diubah sebagaimana diterbitkan oleh DSAK-IAI as published by DSAK-IAI on 22 November
Mata uang fungsional dan penyajian Functional and presentation currency pada tanggal 22 November 2023. 2023.
Transaksi-transaksi yang termasuk dalam Items included in the consolidated financial
laporan keuangan konsolidasian pada setiap statements of each of the Group’s entities are
entitas anggota Grup diukur dengan mata uang measured using the currency of the primary
lingkungan ekonomi utama di mana Grup economic environment in which the Group
beroperasi (“mata uang fungsional”). Laporan operates (“the functional currency”). The
keuangan konsolidasian disajikan dalam consolidated financial statements are
Rupiah, yang merupakan mata uang fungsional presented in Rupiah, which is the Group’s
dan penyajian Grup. functional and presentation currency.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
b. Prinsip atas akuntansi konsolidasi dan b. Principles of consolidation and equity b. Prinsip atas akuntansi konsolidasi dan b. Principles of consolidation and equity
ekuitas accounting ekuitas (lanjutan) accounting (continued)
Entitas anak Subsidiary Entitas anak (lanjutan) Subsidiary (continued)
Laporan keuangan konsolidasian meliputi The consolidated financial statements include Untuk setiap akuisisi, Perusahaan mengakui The Company recognises any non-controlling
laporan keuangan Perusahaan dan entitas the financial statements of the Company and kepentingan nonpengendali pada pihak yang interests in the acquiree on an acquisition by-
anak. Entitas anak adalah entitas di mana its subsidiary. A subsidiary is an entity over diakuisisi baik sebesar nilai wajar atau sebesar acquisition basis, either at fair value or at the
Perusahaan memiliki pengendalian. which the Company has control. The Company bagian proporsional kepentingan nonpengendali non-controlling interest’s proportionate share
Pengendalian timbul ketika Perusahaan controls an entity when the Company is atas aset bersih pihak yang diakuisisi. of the acquiree’s net assets. Non-controlling
terekspos atas, atau memiliki hak untuk, imbal exposed to, or has rights to, variable returns Kepentingan nonpengendali disajikan di ekuitas interests are reported as equity in the
hasil yang bervariasi dari keterlibatannya from its involvement with the entity and has the dalam laporan posisi keuangan konsolidasian, consolidated statements of financial position,
dengan entitas dan memiliki kemampuan untuk ability to affect those returns through its power terpisah dari ekuitas pemilik entitas induk. separate from the owner of the parent’s equity.
memengaruhi imbal hasil tersebut melalui over the entity. Subsidiaries are fully
kekuasaannya atas entitas. Entitas anak consolidated from the date on which the Biaya yang terkait dengan akuisisi dibebankan Acquisition-related costs are expensed as
dikonsolidasikan secara penuh sejak tanggal di control is transferred to the Company. pada saat terjadinya. Transaksi antar entitas, incurred. Intercompany transactions, balances
mana pengendalian dialihkan kepada Subsidiaries are deconsolidated from the date saldo dan keuntungan yang belum direalisasi and unrealised gains on transactions between
Perusahaan. Entitas anak tidak on which that control ceases. antar entitas dalam Grup telah dieliminasi. companies in the Group are eliminated.
dikonsolidasikan lagi sejak tanggal di mana Kerugian yang belum direalisasi juga Unrealised losses are also eliminated unless
Perusahaan kehilangan pengendalian. dieliminasi, kecuali bila terbukti adanya the transaction provides evidence of an
penurunan nilai aset yang ditransfer. impairment of the transferred assets.
Kombinasi bisnis dicatat dengan menggunakan The acquisition method is used to account for
metode akuisisi. Imbalan yang diserahkan untuk business combinations. The consideration Laporan keuangan entitas anak disusun untuk The financial statements of the subsidiary are
akuisisi suatu entitas anak adalah sebesar nilai transferred for the acquisition of a subsidiary is tahun pelaporan yang sama dengan prepared for the same reporting year as the
wajar aset yang diserahkan, saham yang the fair value of the assets given, shares Perusahaan. Kebijakan akuntansi entitas anak Company. When necessary, adjustments are
diterbitkan atau liabilitas yang diakui pada issued or liabilities incurred at the date of diubah jika diperlukan, agar konsisten dengan made to bring the accounting policies in line
tanggal akuisisi. Kelebihan jumlah imbalan yang acquisition. The excess of the aggregate of the kebijakan akuntansi yang diadopsi Perusahaan. with those of the Company.
dialihkan dan nilai wajar jumlah kepentingan consideration transferred and the fair value of
nonpengendali atas jumlah aset teridentifikasi non-controlling interest over the net identifiable Entitas Asosiasi Associates
bersih yang diperoleh dan kewajiban yang assets and liabilities acquired is recorded as
timbul dicatat sebagai goodwill. Jika jumlah goodwill. If this consideration is lower than the Entitas asosiasi adalah seluruh entitas di mana Associates are all entities over which the
imbalan yang diserahkan lebih rendah dari nilai fair value of the net assets of the subsidiary Perusahaan memiliki pengaruh signifikan Company has significant influence but not
wajar aset bersih entitas anak yang diakuisisi, acquired, the difference is recognised directly namun bukan pengendalian, biasanya melalui control, generally accompanying a
selisihnya diakui langsung dalam laporan laba in the consolidated profit or loss. kepemilikan hak suara antara 20% dan 50%. shareholding of between 20% and 50% of the
rugi konsolidasian. voting rights.
Imbalan kontinjensi yang masih harus dialihkan Any contingent consideration to be transferred Sesuai metode ekuitas, investasi pada awalnya Under the equity method, the investment is
oleh Perusahaan diakui sebesar nilai wajar by the Company is recognised at fair value at dicatat pada biaya perolehan. Di dalam initially recognised at cost. The Company’s
pada tanggal akuisisi. Perubahan selanjutnya the acquisition date. Subsequent changes to investasi Perusahaan atas entitas asosiasi investment in associates includes goodwill, if
atas nilai wajar imbalan kontinjensi yang diakui the fair value of the contingent consideration termasuk goodwill yang diidentifikasi ketika any, identified on acquisition. The investment
sebagai aset atau liabilitas dicatat sesuai that are deemed to be an asset or liability are akuisisi. Nilai investasi selanjutnya disesuaikan is adjusted thereafter to recognise the
dengan PSAK 71 “Instrumen Keuangan”, dalam recognised in accordance with SFAS 71 untuk mengakui bagian investor atas laba rugi investor’s share of the post-acquisition profits
laporan laba rugi. Imbalan kontinjensi yang “Financial Instruments” in profit or loss. pasca akuisisi dari investee atas laba rugi, dan or losses of the investee in profit or loss, and
diklasifikasikan sebagai ekuitas tidak diukur Contingent consideration that is classified as bagiannya dalam pergerakan pendapatan its share of movements in other
kembali dan penyelesaian selanjutnya equity is not remeasured and its subsequent komprehensif lainnya dari investee atas comprehensive income of the investee in other
diperhitungkan dalam ekuitas. settlement is accounted for within equity. pendapatan komprehensif lainnya. comprehensive income.
Setiap akhir periode pelaporan, Perusahaan At the end of each reporting period, the
melakukan penilaian ketika terdapat bukti Company assesses when there is objective
obyektif bahwa investasi pada entitas asosiasi evidence that an investment in associates is
mengalami penurunan nilai. impaired.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
c. Transaksi dengan pihak-pihak berelasi c. Related parties transactions d. Pengakuan pendapatan dan beban (lanjutan) d. Recognition of revenues and expenses
(continued)
Grup melakukan transaksi dengan pihak-pihak The Group enters into transactions with related
berelasi sebagaimana didefinisikan dalam parties as defined in SFAS 7 “Related Party Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers
PSAK 7 “Pengungkapan Pihak-Pihak Berelasi”. Disclosures”. (lanjutan) (continued)
Seluruh transaksi dan saldo yang material All significant transactions and balances with Kewajiban pelaksanaan dapat dipenuhi dengan A performance obligation may be satisfied at
dengan pihak-pihak berelasi diungkapkan related parties are disclosed in the notes to the cara, yakni: the following:
dalam catatan atas laporan keuangan consolidated financial statements. a. Suatu titik waktu (umumnya janji untuk a. A point in time (typically for promises to
konsolidasian. menyerahkan barang ke pelanggan); atau transfer goods to a customer); or
b. Suatu periode waktu (umumnya janji untuk b. Over time (typically for promises to transfer
d. Pengakuan pendapatan dan beban d. Recognition of revenues and expenses menyerahkan jasa ke pelanggan). Untuk services to a customer). For a performance
kewajiban pelaksanaan yang dipenuhi obligation satisfied over time, the Group
Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers dalam suatu periode waktu, Grup memilih selects an appropriate measure of progress
ukuran penyelesaian yang sesuai untuk to determine the amount of revenue that
Pengakuan pendapatan harus memenuhi 5 Revenue recognition has to fulfil 5 steps of penentuan jumlah pendapatan yang harus should be recognised as the performance
langkah analisa sebagai berikut: assessment: diakui karena telah terpenuhinya kewajiban obligation is satisfied.
1. Identifikasi kontrak dengan pelanggan. 1. Identify contract(s) with a customer. pelaksanaan.
2. Identifikasi kewajiban pelaksanaan dalam 2. Identify the performance obligations in the
kontrak. Kewajiban pelaksanaan merupakan contract. Performance obligations are Pembayaran harga transaksi berbeda untuk Payment of the transaction price is different for
janji-janji dalam kontrak untuk menyerahkan promises in a contract to transfer to a setiap kontrak. Aset kontrak diakui ketika jumlah each contract. A contract asset is recognised
barang atau jasa yang memiliki karakteristik customer goods or services that are penerimaan dari pelanggan kurang dari saldo once the consideration paid by the customer is
berbeda ke pelanggan. distinct. kewajiban pelaksanaan yang telah dipenuhi. less than the balance of performance
3. Penetapan harga transaksi. Harga transaksi 3. Determine the transaction price. The Kewajiban kontrak diakui ketika jumlah obligation which has been satisfied. A contract
merupakan jumlah imbalan yang berhak transaction price is the amount of penerimaan dari pelanggan melebihi saldo liability is recognised once the consideration
diperoleh suatu entitas sebagai kompensasi consideration to which an entity expects to kewajiban pelaksanaan yang telah dipenuhi. paid by the customer exceeds the balance of
atas diserahkannya barang atau jasa yang be entitled in exchange for transferring Aset kontrak disajikan dalam "Piutang usaha" performance obligation which has been
dijanjikan ke pelanggan. Jika imbalan yang promised goods or services to a customer. dan liabilitas kontrak disajikan dalam satisfied. Contract assets are presented under
dijanjikan di kontrak mengandung suatu If the consideration promised in a contract "Pendapatan tangguhan”. "Trade receivables" and contract liabilities are
jumlah yang bersifat variabel, maka Grup includes a variable amount, the Group presented under "Deferred revenue”.
membuat estimasi jumlah imbalan tersebut estimates the amount of consideration to
Program insentif pemasaran yang berupa Marketing incentive programmes which
sebesar jumlah yang diharapkan berhak which it expects to be entitled in exchange
imbalan yang diberikan Grup kepada pelanggan represent consideration given to the
diterima atas diserahkannya barang atau for transferring the promised goods or
disajikan sebagai pengurang pendapatan customers shall be presented as revenue
jasa yang dijanjikan ke pelanggan dikurangi services to a customer less the estimated
kecuali terdapat manfaat teridentifikasi yang deduction unless there is identifiable benefit
dengan estimasi jumlah jaminan kinerja jasa amount of service level guarantee which
diterima oleh Grup sebagai pertukaran atas received by the Group in exchange for those
yang akan dibayarkan selama periode will be paid during the contract period.
imbalan tersebut. Imbalan yang diberikan considerations. Consideration given to
kontrak.
kepada pelanggan dimana terdapat manfaat customers in which there is identifiable benefit
4. Alokasi harga transaksi ke setiap kewajiban 4. Allocate the transaction price to each
yang dapat diidentifikasi yang diterima oleh received by the Group in exchange for those
pelaksanaan dengan menggunakan dasar performance obligation on the basis of the
Grup sebagai pertukaran atas imbalan tersebut consideration shall be presented as sales and
harga jual berdiri sendiri relatif dari setiap relative stand-alone selling prices of each
disajikan sebagai beban penjualan dan marketing expenses.
barang atau jasa berbeda yang dijanjikan di distinct good or service promised in the
pemasaran.
kontrak. Ketika tidak dapat diamati secara contract. Where these are not directly
langsung, harga jual berdiri sendiri relatif observable, the relative stand-alone selling
Pendapatan Grup berasal dari segmen jasa The Group’s revenue is derived from GSM
diperkirakan berdasarkan biaya yang price is estimated based on expected cost
GSM mobile dan jaringan telekomunikasi dan mobile and telecommunication network
diharapkan ditambah marjin. plus margin.
segmen managed service dan jasa teknologi services segment and managed and
5. Pengakuan pendapatan ketika kewajiban 5. Recognise revenue when performance
informasi (lihat Catatan 34). information technology services segment (see
pelaksanaan telah dipenuhi dengan obligation is satisfied by transferring the
Note 34).
menyerahkan barang atau jasa yang promised goods or services to a customer
dijanjikan ke pelanggan (ketika pelanggan (which is when the customer obtains
telah memiliki kendali atas barang atau jasa control of the goods or services).
tersebut).
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
d. Pengakuan pendapatan dan beban (lanjutan) d. Recognition of revenues and expenses d. Pengakuan pendapatan dan beban (lanjutan) d. Recognition of revenues and expenses
(continued) (continued)
Jasa GSM mobile dan jaringan telekomunikasi GSM mobile and telecommunication network Data dan layanan digital (lanjutan) Data and digital services (continued)
(lanjutan) services (continued)
Komponen pendanaan terjadi saat periode The financing component occurs when the
Pendapatan dari segmen jasa Global System Revenue from Global System for Mobile antara penyerahan barang atau jasa yang period between the transfer of the promised
for Mobile communications (“GSM”) mobile dan communications (“GSM”) mobile and dijanjikan kepada pelanggan dan pembayaran goods or services to the customer and
jaringan telekomunikasi berasal dari data, telecommunication network services segment oleh pelanggan terkait dengan kontrak tertentu payment by the customer related to certain
layanan digital, percakapan dan Short Message is derived from data, digital services, voice and dari jasa telekomunikasi selular melebihi satu contracts of cellular telecommunication
Services (“SMS”), jasa interkoneksi dan jasa Short Message Services (“SMS”), tahun. Berdasarkan PSAK 72, Grup services exceeds one year. Under SFAS 72,
telekomunikasi lainnya. Sumber informasi dari interconnection and other telecommunication menyesuaikan harga transaksi untuk nilai waktu the Group adjusted the transaction price for
pendapatan tersebut terutama dihasilkan dari services. Information regarding the source of uang. the time value of money.
sistem Teknologi Informasi yang kompleks dan such revenue is primarily generated from
melibatkan volume data yang besar dengan complex Information Technology systems and Percakapan dan SMS Voice and SMS
kombinasi berbagai produk, layanan dan harga involves large volumes of data with a
terkait. combination of different products, services and Pendapatan percakapan dan SMS meliputi Voice and SMS revenue include revenue from
related prices. pendapatan dari percakapan dan SMS. voice and SMS.
Kriteria pengakuan pendapatan tertentu yang Specific revenue recognition criteria that have Pendapatan percakapan diakui dalam suatu Voice revenue is recognised over time when
harus dipenuhi sejalan dengan kewajiban to be met aligned with the performance periode waktu ketika percakapan terjadi dan the service is rendered based on the actual
kinerja yang disebutkan di atas adalah sebagai obligation mentioned above are as follows: diukur berdasarkan durasi pemakaian aktual call duration and applicable tariffs.
berikut: dan menggunakan tarif yang berlaku.
Data dan layanan digital Data and digital services Pendapatan SMS diakui dalam suatu periode SMS revenue is recognised over time based
waktu berdasarkan pemakaian atau tagihan on usage or fixed monthly charges depending
Pendapatan data dan layanan digital meliputi Revenue from data and digital services tetap bulanan tergantung kesepakatan dengan on the arrangement with customers.
pendapatan dari data, konten digital, home includes revenue from data, digital content, pelanggan.
broadband dan pendapatan abonemen yang home broadband and monthly service charges
dilakukan dengan skema pascabayar. that are performed through postpaid scheme. Jasa Interkoneksi dan jasa telekomunikasi Interconnection and other
lainnya telecommunication services
Pendapatan data adalah pendapatan dari data Data revenue is derived from wireless
pita lebar nirkabel yang diakui dalam suatu broadband data revenue which is recognised Pendapatan interkoneksi dari operator-operator Revenue from interconnection with other
periode waktu berdasarkan pemakaian. over time based on usage. domestik lainnya dan pendapatan inbound domestic operators and inbound roaming
roaming dari penyelenggara jasa revenue from overseas telecommunication
Pendapatan konten digital diakui dalam suatu Digital content revenue is recognised over time telekomunikasi luar negeri diakui pada suatu providers is recognised over time on the basis
periode waktu ketika penjualan konten terjadi when the sales of contents have occurred and periode waktu berdasarkan trafik percakapan of actual recorded call traffic.
dan disajikan secara neto jika Grup bertindak is presented on a net basis when the Group aktual yang tercatat.
sebagai agen, setelah memperhitungkan beban acts as an agent, after taking into account the
langsung yang terkait, atau disajikan secara underlying direct expenses, and is presented Jasa interkoneksi termasuk layanan internet Interconnection services includes voice over
bruto apabila Grup bertindak sebagai penyedia on a gross basis when the Group acts as teleponi untuk keperluan publik (“ITKP”) yang internet protocol (“VoIP”) service which is
jasa. principal. diakui pada suatu periode waktu berdasarkan recognised overtime when the service is
tarif yang berlaku. rendered based upon applicable tariffs.
Pendapatan home broadband adalah Home broadband revenue is derived from
pendapatan dari layanan data pita lebar dengan broadband data services with fibre network Jasa telekomunikasi lainnya terdiri atas jasa Other telecommunication services include
jaringan serat optik diakui dalam suatu periode and is recognised over the time during which telekomunikasi lainnya, penjualan kartu SIM, revenue from other telecommunication
waktu selama saat jasa tersebut diberikan. the services are provided. sewa sirkit langganan dan sewa menara. services, SIM card sales, leased line and
leased tower.
Dalam skema pascabayar, terdapat pendapatan In a postpaid scheme, there is a monthly
abonemen yang diakui pada suatu periode service charge which is recognised over time
waktu secara bulanan pada saat penagihan. on a monthly basis upon billing.
Page 189
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 5/16 - Page Halaman - 5/17 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
d. Pengakuan pendapatan dan beban (lanjutan) d. Recognition of revenues and expenses d. Pengakuan pendapatan dan beban (lanjutan) d. Recognition of revenues and expenses
(continued) (continued)
Jasa Interkoneksi dan jasa telekomunikasi Interconnection and other Jasa Interkoneksi dan jasa telekomunikasi Interconnection and other
lainnya (lanjutan) telecommunication services (continued) lainnya (lanjutan) telecommunication services (continued)
Pendapatan jasa telekomunikasi lainnya diakui Revenue from other telecommunication Pendapatan yang diterima dimuka dicatat Revenue that is received in advance is
ketika jasa diberikan dan kewajiban services is recognised when services have sebagai pendapatan tangguhan dan diakui recorded as deferred revenue and recognised
pelaksanaan dipenuhi berdasarkan been rendered and performance obligations sebagai pendapatan pada saat jasa diberikan as revenue when the services are provided.
kesepakatan dengan pelanggan. Transaksi have been satisfied based on the arrangement kepada pelanggan.
bundling ditelaah secara individual apakah with customers. Bundling transaction is
Pendapatan sewa menara diakui setiap Revenue from leased towers is recognised
terdiri dari satu atau lebih kewajiban assessed individually on whether it contains
bulannya dengan dasar garis lurus sesuai monthly on a straight-line basis based on
pelaksanaan. Saat transaksi bundling ditelaah one or more performance obligations. When
dengan perjanjian dengan pelanggan. agreement with customers.
sebagai satu kewajiban pelaksanaan, bundling transaction is assessed as one
pendapatan perangkat dan data tidak diakui performance obligation, device and data
Managed service dan jasa teknologi Managed and information technology
secara terpisah. Pendapatan diakui pada suatu revenue are not recognised separately.
informasi services
periode waktu saat kewajiban pelaksanaan Revenue is recognised over the period as the
dipenuhi. Saat transaksi bundling ditelaah performance obligation is satisfied. When Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers
sebagai lebih dari satu kewajiban pelaksanaan, bundling transaction is assessed as more than
pendapatan perangkat dan data diakui secara one performance obligation, device and data Pendapatan dari segmen managed service dan Revenue from the managed and information
terpisah. Pendapatan data diakui pada suatu revenue are recognised separately. Revenue jasa teknologi informasi diakui setiap bulannya technology services segment is recognised
periode waktu saat kewajiban pelaksanaan from data is recognised over the period as the dengan dasar garis lurus sesuai dengan monthly on a straight-line basis based on
dipenuhi dan pendapatan perangkat diakui performance obligation is satisfied and perjanjian dengan pelanggan. agreement with customers.
pada suatu titik waktu saat pelanggan revenue from device is recognised at a point in
menerima perangkat tersebut. time upon acceptance of the device by the Pendapatan yang diterima dimuka dicatat Revenue that is received in advance is
customers. sebagai pendapatan tangguhan dan diakui recorded as deferred revenue and recognised
sebagai pendapatan pada saat jasa diberikan as revenue when the services are provided.
Pendapatan atas penjualan kartu Subscriber The revenue of Subscriber Identity Module kepada pelanggan.
Identity Module (“SIM”) dan diskon yang (“SIM”) card sales and any discount granted is
diberikan diakui pada waktu penyerahan recognised upon delivery to distributors or Beban Expenses
kepada distributor atau langsung ke pelanggan, directly to customers, excluding value-added
di luar pajak pertambahan nilai. taxes. Beban diakui pada saat terjadinya Expenses are recognised when they are
incurred
Dalam skema prabayar, terdapat penjualan In a prepaid scheme, there are sales of airtime
voucher pulsa dan penjualan paket vouchers and sales of starter pack/SIM card. Biaya yang secara langsung berhubungan The cost that directly relate to the contract that
perdana/kartu SIM. dengan kontrak yang timbul untuk memenuhi are incurred to fulfil the contract (“cost to fulfil”)
kontrak (“biaya untuk memenuhi”) atau or is incremental costs that directly relate to
Pendapatan atas penjualan voucher pulsa Revenue from sales of airtime prepaid penambahan biaya yang secara langsung obtaining a contract (“cost to obtain”) and are
prabayar tidak diakui pada waktu penjualannya. vouchers is not recognised at the time of sale. berhubungan untuk mendapatkan kontrak expected to be recovered are eligible for
Pada saat voucher terjual, jumlah nilai voucher Upon the sale of the voucher, the full amount ("biaya untuk memperoleh") dan diharapkan capitalisation under SFAS 72 and recognised
yang terjual, tanpa pengurangan biaya komisi, of the voucher balance sold is credited, without dapat dipulihkan, memenuhi syarat kapitalisasi as contract cost and presented in “Intangible
akan diakui sebagai pendapatan tangguhan. deduction of any commission, to the deferred berdasarkan PSAK 72 dan diakui sebagai biaya assets” (see Note 8). Such cost will be
Pendapatan tangguhan diakui sebagai revenue account. The deferred revenue is kontrak dan disajikan dalam “Aset takberwujud” amortised on a systematic basis that is
pendapatan pada laporan keuangan recognised in the consolidated financial (lihat Catatan 8). Beban tersebut diamortisasi consistent with the transfer of the goods or
konsolidasian pada saat pelanggan prabayar statements as revenue upon the use of such dengan cara sistematis sejalan dengan services to which such asset relates.
menggunakan voucher tersebut untuk layanan voucher for data and non-data services or penyerahan barang atau jasa yang terkait
data dan non-data atau pada saat nilai voucher upon expiration of the voucher validity period. dengan aset tersebut.
sudah melewati masa berlakunya.
Beban yang berasal dari jaringan interkoneksi Expenses from network interconnection with
Pendapatan sewa sambungan sirkit langganan Revenue from leased lines is recognised over dengan penyelenggara telekomunikasi other domestic and international
diakui pada suatu periode waktu sesuai dengan time based on agreements with customers. domestik dan internasional lainnya dicatat telecommunications carriers are accounted as
perjanjian dengan pelanggan. sebagai beban usaha pada periode terjadinya operating expenses in the period they are
beban. incurred.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
e. Piutang usaha e. Trade receivables g. Sewa (lanjutan) g. Leases (continued)
Pada saat pengakuan awal piutang usaha Trade receivables are recognised initially at Sebagai penyewa (lanjutan) As lessee (continued)
diakui sebesar nilai wajarnya dan selanjutnya fair value and subsequently measured at
diukur pada nilai yang diamortisasi setelah amortised cost less provision for receivables Pada tanggal insepsi atau pada penilaian At the inception or on reassessment of a
dikurangi dengan cadangan penurunan nilai impairment. Accounts are written-off in the kembali atas kontrak yang mengandung sebuah contract that contains a lease component, the
piutang. Piutang dihapusbukukan pada saat period during which they are determined to be komponen sewa, Grup mengalokasikan imbalan Group allocates the consideration in the
piutang tersebut dipastikan tidak akan tertagih. not collectible. dalam kontrak ke masing-masing komponen contract to each lease component on the basis
sewa berdasarkan harga tersendiri relatif dari of their relative stand-alone prices and the
f. Persediaan f. Inventories komponen sewa dan harga tersendiri agregat aggregate stand-alone price of the non-lease
dari komponen non-sewa. components.
Persediaan, yang terutama terdiri dari voucher Inventories, mainly comprising vouchers and
dan kartu SIM, dinilai berdasarkan nilai yang SIM cards, are valued at the lower of cost or
Pada tanggal permulaan sewa, Grup mengakui The Group recognises a right-of-use assets
lebih rendah antara harga perolehan dan nilai net realisable value. Cost is calculated using
aset hak-guna dan liabilitas sewa. Aset hak- and a lease liability at the lease
bersih yang dapat direalisasi. Harga perolehan the weighted average method.
guna diukur pada biaya perolehan, di mana commencement date. The right-of-use assets
dihitung berdasarkan metode rata-rata
meliputi jumlah pengukuran awal liabilitas sewa are initially measured at cost, which comprises
tertimbang.
yang disesuaikan dengan pembayaran sewa the initial amount of the lease liability adjusted
yang dilakukan pada atau sebelum tanggal for any lease payment made at or before the
Penyisihan untuk penurunan nilai persediaan A provision for impairment of inventory is
permulaan. commencement date.
ditentukan berdasarkan estimasi penjualan determined on the basis of the estimated
masing-masing jenis persediaan pada masa future sales of individual inventory items.
Aset hak-guna kemudian disusutkan The right-of-use assets are subsequently
mendatang.
menggunakan metode garis lurus dari tanggal depreciated using the straight-line method
g. Sewa g. Leases sewa dimulai 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
Sebagai penyewa As lessee akhir masa sewa. assets or the end of the lease term.
Pada tanggal permulaan kontrak, Grup menilai At the inception of a contract, the Group Liabilitas sewa diukur pada nilai kini The lease liability is initially measured at the
apakah kontrak merupakan, atau mengandung, assesses whether the contract is, or contains, pembayaran sewa yang belum dibayar pada present value of the lease payments that are
sewa. Suatu kontrak merupakan atau a lease. A contract is or contains a lease if the tanggal permulaan, didiskontokan dengan not paid at the commencement date,
mengandung sewa jika kontrak tersebut contract conveys the right to control the use of menggunakan suku bunga implisit dalam sewa discounted using the interest rate implicit in
memberikan hak untuk mengendalikan an identified asset for a period of time in atau jika suku bunga tersebut tidak dapat the lease or, if that rate cannot be readily
penggunaan aset identifikasian selama suatu exchange for consideration. ditentukan, maka menggunakan suku bunga determined, using the incremental borrowing
jangka waktu untuk dipertukarkan dengan pinjaman inkremental. Pada umumnya, Grup rate. Generally, the Group uses its incremental
imbalan. menggunakan suku bunga pinjaman borrowing rate as the discount rate.
inkremental sebagai tingkat bunga diskonto.
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, Pembayaran sewa yang termasuk dalam Lease payments included in the measurement
identifikasian, Grup harus menilai apakah: the Group shall assess whether: pengukuran liabilitas sewa meliputi pembayaran of the lease liability comprise the following:
- Grup memiliki hak untuk mendapatkan - The Group has the right to obtain berikut ini:
secara substansial seluruh manfaat ekonomi substantially all the economic benefits from - pembayaran tetap, termasuk pembayaran - fixed payments, including in-substance
dari penggunaan aset; dan the use of the asset throughout the period tetap secara substansi; fixed payments;
of use; and - pembayaran sewa variabel yang bergantung - variable lease payments that depend on an
- Grup memiliki hak untuk mengarahkan - The Group has the right to direct the use of pada indeks atau suku bunga yang pada index or a rate, initially measured using the
penggunaan aset. Grup memiliki hak ini the asset. The Group has this right when it awalnya diukur dengan menggunakan index or rate as at the commencement
ketika Grup memiliki hak untuk pengambilan has the decision-making rights that are the indeks atau suku bunga pada tanggal date;
keputusan yang relevan tentang bagaimana most relevant to changing how and for permulaan;
dan untuk tujuan apa aset digunakan telah what purpose the asset is used are - jumlah yang diperkirakan akan dibayarkan - amounts expected to be payable under a
ditentukan sebelumnya dan: predetermined and: oleh penyewa dengan jaminan nilai residual; residual value guarantee;
1. Grup memiliki hak untuk mengoperasikan 1. The Group has the right to operate the - harga eksekusi opsi beli jika Grup cukup - the exercise price under a purchase option
aset; asset; pasti untuk mengeksekusi opsi tersebut; dan that the Group is reasonably certain to
2. Grup telah mendesain aset dengan cara 2. The Group has designed the asset in a exercise; and
menetapkan sebelumnya bagaimana dan way that predetermined how and for - penalti karena penghentian awal sewa - penalties for early termination of a lease
untuk tujuan apa aset akan digunakan what purpose it will be used. kecuali jika Grup cukup pasti untuk tidak unless the Group is reasonably certain not
selama periode penggunaan. menghentikan lebih awal. to terminate early.
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PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
g. Sewa (lanjutan) g. Leases (continued) g. Sewa (lanjutan) g. Leases (continued)
Sebagai penyewa (lanjutan) As lessee (continued) Sebagai penyewa (lanjutan) As lessee (continued)
Pembayaran sewa dialokasikan menjadi bagian Each lease payment is allocated between the Modifikasi sewa (lanjutan) Lease modification (continued)
pokok dan biaya keuangan. Biaya keuangan liability and finance cost. The finance cost is
Untuk modifikasi sewa yang tidak dicatat For a lease modification that is not accounted
dibebankan pada laba rugi selama periode charged to profit or loss over the lease period
sebagai sewa terpisah, pada tanggal efektif for as a separate lease, at the effective date of
sewa sehingga menghasilkan tingkat suku so as to produce a constant periodic rate of
modifikasi sewa, Grup: the lease modification, the Group:
bunga periodik yang konstan atas saldo liabilitas interest on the remaining balance of the
- mengukur kembali dan mengalokasikan - remeasures and allocates the
untuk setiap periode. liability for each period.
imbalan kontrak modifikasian; consideration in the modified contract;
- menentukan masa sewa dari sewa - determines the lease term of the modified
Grup menyajikan aset hak-guna sebagai bagian The Group presents right-of-use assets as part
modifikasian; lease;
dari ”Aset tetap” dan ”Liabilitas sewa” di dalam of “Fixed assets” and “Lease liabilities” in the
- mengukur kembali liabilitas sewa dengan - remeasures the lease liability by
laporan posisi keuangan konsolidasian. consolidated statement of financial position.
mendiskontokan pembayaran sewa revisian discounting the revised lease payments
menggunakan tingkat diskonto revisian using a revised discount rate on the basis
Jika sewa mengalihkan kepemilikan aset If the lease transfers ownership of the
berdasarkan sisa umur sewa dan sisa of the remaining lease term and the
pendasar kepada Grup pada akhir masa sewa underlying asset to the Group by the end of
pembayaran sewa dengan melakukan remaining lease payment with a
atau jika biaya perolehan aset hak-guna the lease term or if the cost of the right-of-use
penyesuaian terhadap aset hak-guna. corresponding adjustment to the right-of-
merefleksikan Grup akan mengeksekusi opsi assets reflects that the Group will exercise a
Tingkat diskonto revisian ditentukan sebagai use assets. The revised discount rate is
beli, maka Grup menyusutkan aset hak-guna purchase option, the Group depreciates the
suku bunga pinjaman inkremental Grup determined as the Group’s incremental
dari tanggal sewa dimulai hingga akhir umur right-of-use assets from the commencement
pada tanggal efektif modifikasi; borrowing rate at the effective date of the
manfaat aset pendasar. Jika tidak, maka Grup date to the end of the useful life of the
modification;
menyusutkan aset hak-guna dari tanggal sewa underlying asset. Otherwise, the Group
- menurunkan jumlah tercatat aset hak-guna - decreases the carrying amount of the right-
dimulai hingga tanggal yang lebih awal antara depreciates the right-of-use assets from the
untuk merefleksikan penghentian sebagian of-use asset to reflect the partial or full
akhir umur manfaat aset hak-guna atau akhir commencement date to the earlier of the end
atau sepenuhnya sewa untuk modifikasi termination of the lease for lease
masa sewa. of the useful life of the right-of-use assets or
sewa yang menurunkan ruang lingkup sewa. modifications that decrease the scope of
the end of the lease term.
Grup mengakui dalam laba rugi setiap laba the lease. The Group recognise in profit or
rugi yang terkait dengan penghentian loss any gain or loss relating to the partial
Sewa jangka-pendek Short-term leases
sebagian atau sepenuhnya sewa tersebut; or full termination of the lease; and
dan
Grup memutuskan untuk tidak mengakui aset The Group has elected not to recognise right-
- membuat penyesuaian terkait dengan aset - makes a corresponding adjustment to the
hak-guna dan liabilitas sewa untuk sewa jangka of-use assets and lease liabilities for short-
hak-guna untuk seluruh modifikasi sewa right-of-use assets for all other lease
pendek yang memiliki masa sewa term leases that have a lease term of
lainnya. modifications.
12 bulan atau kurang. Grup mengakui 12 months or less. The Group recognises the
pembayaran sewa atas sewa tersebut sebagai lease payments associated with these leases
Sebagai pesewa As lessor
beban dengan dasar garis lurus selama masa as an expense on a straight-line basis over the
sewa. lease term. 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
Modifikasi sewa Lease modification sewa operasi atau sewa pembiayaan. operating lease or a finance lease.
Grup mencatat modifikasi sewa sebagai sewa The Group account for a lease modification as Untuk mengklasifikasi masing-masing sewa, To classify each lease, the Group makes an
terpisah jika: a separate lease if both: Grup membuat penilaian secara keseluruhan overall assessment of whether the lease
- modifikasi meningkatkan ruang lingkup sewa - the modification increases the scope of the atas apakah sewa mengalihkan secara transfers substantially all of the risks and
dengan menambahkan hak untuk lease by adding the right to use one or substansial seluruh risiko dan manfaat yang rewards incidental to ownership of the
menggunakan satu aset pendasar atau more underlying assets; and terkait dengan kepemilikan aset pendasar. Jika underlying asset. If this is the case, then the
lebih; dan demikian, maka sewa diklasifikasikan sebagai lease is classified as a finance lease; if not,
- imbalan sewa meningkat sebesar jumlah - the consideration for the lease increases sewa pembiayaan; jika tidak, maka merupakan then it is an operating lease. As part of this
yang setara dengan harga tersendiri untuk by an amount commensurate with the sewa operasi. Sebagai bagian dari penilaian ini, assessment, the Group considers certain
peningkatan dalam ruang lingkup sewa dan stand-alone price for the increase in scope Grup mempertimbangkan beberapa indikator indicators such as whether the lease term is
penyesuaian yang tepat pada harga and any appropriate adjustments to that seperti apakah masa sewa adalah sebagian for the major part of the economic life of the
tersendiri tersebut untuk merefleksikan stand-alone price to reflect the besar dari umur ekonomik aset pendasar. underlying asset.
kondisi kontrak tertentu. circumstances of the particular contract.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
g. Sewa (lanjutan) g. Leases (continued) g. Sewa (lanjutan) g. Leases (continued)
Sebagai pesewa (lanjutan) As lessor (continued) Transaksi jual dan sewa balik (lanjutan) Sale and leaseback transactions (continued)
Apabila aset disewakan melalui sewa When assets are leased out under a finance Pengalihan aset merupakan penjualan Transfer of the asset is a sale (continued)
pembiayaan, nilai kini pembayaran sewa diakui lease, the present value of the lease payments (lanjutan)
sebagai piutang. Selisih antara nilai piutang is recognised as receivable. The difference
bruto dan nilai kini piutang tersebut diakui between the gross receivable and the present Jika nilai wajar imbalan untuk penjualan aset If the fair value of the consideration for the
sebagai penghasilan sewa pembiayaan value of the receivable is recognised as tidak sama dengan nilai wajar aset, atau jika sale of an asset does not equal the fair value
tangguhan. unearned finance lease income. pembayaran untuk sewa tidak sama dengan of the asset, or if the payments for the lease
harga pasar, maka Grup melakukan are not at market rates, the Group make the
Penghasilan sewa diakui selama masa sewa Lease income is recognised over the term of penyesuaian sebagai berikut: following adjustments to measure the sale
dengan menggunakan metode investasi neto the lease using the net investment method that proceeds at fair value:
yang mencerminkan suatu tingkat reflects a constant periodic rate of return. - jika di bawah harga pasar, maka dicatat - any below-market terms shall be accounted
pengembalian periodik yang konstan. sebagai pembayaran sewa di muka; dan for as a prepayment of lease payments;
and
Apabila aset disewakan melalui sewa operasi, When assets are leased out under an - jika di atas harga pasar, maka dicatat - any above-market terms shall be
aset disajikan di laporan posisi keuangan operating lease, the asset is presented in the sebagai tambahan pembiayaan yang accounted for as additional financing
konsolidasian sesuai pengelompokan aset statements of financial position based on diberikan oleh pembeli-pesewa kepada provided by the buyer-lessor to the Group.
tersebut. Penghasilan sewa diakui sebagai grouping of the asset. Lease income is Grup.
pendapatan dengan dasar garis lurus selama recognised over the term of the lease on a
masa sewa. straight-line basis. Grup mengukur kemungkinan penyesuaian The Group measures any potential adjustment
yang disyaratkan di atas berdasarkan mana required above on the basis of the more
Transaksi jual dan sewa balik Sale and leaseback transactions yang lebih dapat ditentukan dari: readily determinable of:
- selisih antara nilai wajar imbalan penjualan - the difference between the fair value of the
Pencatatan transaksi jual dan sewa balik The accounting for sale and leaseback dan nilai wajar aset; dan consideration for the sale and the fair value
bergantung kepada apakah pengalihan aset transactions depends on whether the transfer of the asset; and
memenuhi syarat sebagai penjualan. Grup of the asset qualifies as a sale. The Group - selisih antara nilai kini pembayaran - the difference between the present value of
menerapkan persyaratan penentuan saat applies the requirements for determining when kontraktual sewa dan nilai kini pembayaran the contractual payments for the lease and
kewajiban pelaksanaan telah terpenuhi dalam a performance obligation is satisfied in sewa pada harga pasar. the present value of payments for the lease
PSAK 72 untuk menentukan apakah pengalihan SFAS 72 to determine whether the transfer of at market rates.
aset dicatat sebagai penjualan. an asset is accounted for as a sale.
h. Aset tetap dan penyusutan h. Fixed assets and depreciation
Pengalihan aset merupakan penjualan Transfer of the asset is a sale
Aset tetap terutama digunakan Grup untuk Fixed assets are primarily used by the Group
Jika pengalihan aset oleh Grup sebagai If the transfer of an asset by the Group as the memberikan jasa telekomunikasi kepada to provide telecommunication services to the
penjual-penyewa memenuhi persyaratan dalam seller-lessee satisfies the requirements of pelanggan dan dinyatakan sebesar biaya customers and are stated at acquisition cost,
PSAK 72 untuk dicatat sebagai penjualan, SFAS 72 to be accounted for as a sale, then perolehan termasuk pajak impor yang berlaku, which includes any applicable import taxes,
maka Grup mengukur aset hak-guna yang the Group measures the right-of-use assets bea masuk, biaya pengangkutan, biaya import duties, freight costs, handling costs,
timbul dari sewa balik pada proporsi jumlah arising from the leaseback at the proportion of penanganan, biaya penyimpanan, biaya storage costs, site preparation costs,
tercatat aset sebelumnya yang terkait dengan the previous carrying amount of the asset that penyediaan lokasi, biaya pemasangan, biaya installation costs, internal labour costs and the
hak-guna yang dipertahankan oleh Grup. relates to the right-of-use retained by the upah tenaga kerja internal dan estimasi awal initial estimate of the costs of dismantling and
Dengan demikian Grup mengakui hanya jumlah Group. Accordingly, the Group shall recognise biaya pembongkaran, pemindahan aset tetap removing the item and restoring the site on
keuntungan atau kerugian yang terkait dengan only the amount of any gain or loss that relates dan restorasi lokasi aset tetap dikurangi which it is located, less accumulated
hak yang dialihkan ke pembeli-pesewa. to the rights transferred to the buyer-lessor. akumulasi penyusutan. Grup mencatat estimasi depreciation. The Group recorded the
biaya pembongkaran dan restorasi atas Base estimated dismantlement and restoration costs
Transceiver Station (“BTS”) sebagai bagian dari of Base Transceiver Station (“BTS”) as part of
biaya perolehan. Nilai provisi ditentukan the acquisition cost. The amount of the
berdasarkan nilai kontrak sewa; tetapi untuk provisions is determined based on the lease
kontrak yang tidak menyebutkan nilai liabilitas, contracts; however, where contracts do not
Grup menggunakan estimasi terbaiknya. specify the amount of the obligation, the Group
Manajemen melakukan evaluasi berkala uses its best estimate. Management conducts
terhadap estimasi yang digunakan. a regular review of the estimation used.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
h. Aset tetap dan penyusutan (lanjutan) h. Fixed assets and depreciation (continued) h. Aset tetap dan penyusutan (lanjutan) h. Fixed assets and depreciation (continued)
Penyusutan dimulai sejak aset mulai atau siap Depreciation is applied from the date the Grup melakukan evaluasi atas penurunan nilai The Group evaluates its fixed assets for
digunakan, dengan menggunakan metode garis assets are put into service or when the assets aset tetap apabila terdapat peristiwa atau impairment whenever events or circumstances
lurus berdasarkan estimasi masa manfaat are ready for service, using the straight-line keadaan yang mengindikasikan bahwa nilai indicate that the carrying amount of the assets
ekonomis yang menghasilkan persentase method over their estimated useful lives and tercatat aset tetap tersebut kemungkinan tidak may not be recoverable. When the carrying
penyusutan tahunan dari harga perolehan results in the following annual percentages of terpulihkan. Bila nilai tercatat suatu aset amount of an asset exceeds its estimated
sebagai berikut: cost: melebihi estimasi nilai terpulihkannya, nilai aset recoverable amount, the asset is written down
tersebut diturunkan menjadi sebesar estimasi to its estimated recoverable amount, which is
Persentase/ Tahun/ nilai terpulihkannya, yang ditentukan determined based on the higher of the fair
Percentages Years berdasarkan nilai tertinggi antara nilai wajar value less cost to sell and the value in use.
dikurangi biaya untuk menjual dan nilai pakai.
Bangunan 5%, 12.5% 20, 8 Buildings
Peralatan jaringan Network equipment Akumulasi biaya perolehan peralatan jaringan The accumulated costs of network equipment
- Menara GSM 6.25% 16 GSM tower - mula-mula dikapitalisasi sebagai Aset Tetap are initially capitalised as Fixed Assets Under
- Kabel serat optik 10% 10 Fibre optic - Dalam Pembangunan. Biaya perolehan ini akan Construction. These costs are subsequently
- Peralatan jaringan Other network - direklasifikasi ke akun aset tetap pada saat aset reclassified as fixed asset accounts when the
lainnya 10%, 12.5%, 20%, 25%, 50% 10, 8, 5, 4, 2 equipment tersebut siap digunakan. assets are ready to use.
Prasarana kantor 25% 4 Leasehold improvements
Biaya-biaya setelah perolehan awal Subsequent costs are included in the asset’s
Mesin dan peralatan 25% 4 Machinery and equipment
dimasukkan dalam nilai tercatat aset dan diakui carrying amount and recognised as a separate
Perabot dan perlengkapan
secara terpisah, hanya jika terdapat asset, only when it is probable that future
kantor 25% 4 Furniture and fixtures
kemungkinan besar biaya yang dikapitalisasi economic benefits associated with the item will
Sistem pendukung 20%, 25% 5, 4 Support systems
tersebut akan memberikan manfaat ekonomis flow to the Group and the cost of the item can
Kendaraan bermotor 25% 4 Motor vehicles
bagi Grup dan dapat diukur secara andal. Nilai be measured reliably. The carrying amount of
tercatat dari komponen yang diganti replaced parts is written-off. The cost of
Tanah dinyatakan pada harga perolehan dan Land is stated at cost and not depreciated.
dihapusbukukan. Biaya untuk memutakhirkan upgrading software that is integrated into its
tidak disusutkan. Biaya legal awal untuk Initial legal costs incurred to obtain legal rights
perangkat lunak yang merupakan bagian hardware is capitalised and the previously
mendapatkan hak legal diakui sebagai bagian are recognised as part of the acquisition cost
integral dari perangkat kerasnya dikapitalisasi recorded balance is written-off at the time the
biaya akuisisi tanah, biaya-biaya tersebut tidak of the land, and these costs are not
dan nilai yang semula dicatat dihapusbukukan software upgrade is performed.
disusutkan. Grup menganalisa fakta dan depreciated. The Group analyse the facts and
pada saat pemutakhiran perangkat lunak
keadaan untuk masing-masing jenis hak atas circumstances for each type of land rights in
dilakukan.
tanah dalam menentukan akuntansi untuk determining the accounting for each of these
masing-masing hak atas tanah tersebut land rights so that it can accurately represent
Seluruh biaya pemeliharaan dan perbaikan All other repairs and maintenance are charged
sehingga dapat merepresentasikan dengan an underlying economic event or transaction. If
lainnya diakui sebagai beban pada laporan laba to the consolidated statements of profit or loss
tepat suatu kejadian atau transaksi ekonomik the landrights do not transfer control of the
rugi konsolidasian pada saat terjadinya. during the financial period in which they are
yang mendasarinya. Jika hak atas tanah underlying assets to the Group, but give the
incurred.
tersebut tidak mengalihkan pengendalian atas rights to use the underlying assets, the Group
aset pendasar kepada Grup, melainkan applies the accounting treatment of these Keuntungan dari transaksi penjualan tempat Gain from sale of specific tower space
mengalihkan hak untuk menggunakan aset transactions as leases under SFAS 73, spesifik dalam menara langsung diakui pada transaction is directly recognised when the
pendasar, Grup menerapkan perlakuan “Leases”. If land rights are substantially similar saat transaksi terjadi, kecuali apabila terdapat transaction occurs, unless there are terms and
akuntansi atas transaksi tersebut sebagai sewa to land purchases, the Group applies SFAS 16 persyaratan dan kondisi yang masih harus conditions which still need to be fulfilled by the
berdasarkan PSAK 73, “Sewa”. Jika hak atas “Fixed Assets”. dipenuhi oleh Grup. Dalam hal terdapat Group. In the case where there are terms and
tanah secara substansi menyerupai pembelian persyaratan dan kondisi yang masih harus conditions which still need to be fulfilled by
tanah, maka Grup menerapkan PSAK 16 “Aset dipenuhi Grup, keuntungan diakui pada saat the Group, gain is recognised when such
Tetap”. persyaratan dan kondisi tersebut telah dipenuhi. terms and conditions are fulfilled.
Apabila aset tetap dilepas, maka nilai tercatat When assets are disposed of, their carrying
dan akumulasi penyusutannya dikeluarkan dari values and the related accumulated
laporan keuangan konsolidasian, dan depreciation are eliminated from the
keuntungan dan kerugian yang dihasilkan diakui consolidated financial statements, and the
dalam laba rugi tahun berjalan. resulting gains and losses on the disposal of
fixed assets are recognised in the statements
of profit or loss for the year.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
h. Aset tetap dan penyusutan (lanjutan) h. Fixed assets and depreciation (continued) i. Aset takberwujud (lanjutan) i. Intangible assets (continued)
Estimasi masa manfaat ekonomis Economic useful lives estimation Estimasi masa manfaat ekonomis Economic useful lives estimation
Pada akhir periode pelaporan, Grup melakukan At the end of the reporting period, the Group Pada akhir periode pelaporan, Grup melakukan At the end of the reporting period, the Group
penelaahan berkala atas masa manfaat periodically reviews the useful life of the penelaahan berkala atas masa manfaat periodically reviews the useful lives of the
ekonomis aset, nilai sisa aset, metode assets, asset’s residual value, depreciation ekonomis aset, nilai sisa aset, metode assets, assets’ residual values, the
penyusutan dan sisa umur pemakaian method and the remaining usage expectation amortisasi dan sisa umur pemakaian amortisation method and the remaining usage
berdasarkan kondisi teknis. based on technical specification. berdasarkan kondisi aktual (lihat Catatan 8 expectation based on the actual specifications
dan 36). (see Notes 8 and 36).
i. Aset takberwujud i. Intangible assets
Grup mengakui biaya yang terjadi dalam The Group recognises costs incurred in
Aset takberwujud yang dianggap memiliki masa Intangible assets that are considered to have a mengonfigurasi atau mengkustomisasi configuring or customising cloud application
manfaat ekonomis terbatas diamortisasi dengan finite economic useful life are amortised on a perangkat lunak aplikasi awan (cloud software as an intangible asset only if the
menggunakan metode garis lurus berdasarkan straight-line basis over the period of expected application software) sebagai aset tak berwujud activities create a resource that the Group can
ekspektasi masa manfaat. Aset takberwujud benefit. Intangible assets that are considered hanya jika aktivitas tersebut menciptakan control and from which it expects to benefit.
yang dianggap memiliki masa manfaat to have an indefinite economic useful life are sumber daya yang dapat dikendalikan oleh Such costs are amortised over the estimated
ekonomis tidak terbatas tidak diamortisasi not amortised but tested for impairment in Grup, di mana Grup diekspektasikan untuk useful life of the software application on a
namun diuji penurunan nilainya sesuai dengan accordance with Note 2q on an annual basis, mendapatkan manfaatnya. Biaya tersebut straight-line basis.
Catatan 2q setiap tahun, atau lebih sering or more frequently if events or changes in diamortisasi selama taksiran masa manfaat
apabila terdapat peristiwa atau perubahan pada circumstances indicate that they might be aplikasi perangkat lunak dengan dasar garis
kondisi yang mengindikasikan kemungkinan impaired. The acquired intangible assets lurus.
penurunan nilai. Aset takberwujud yang include telecommunications licences with
diakuisisi termasuk ijin telekomunikasi dengan allocated spectrum rights which have indefinite j. Pinjaman j. Loans
hak alokasi spektrum yang memiliki masa economic useful lives. Management assesses
manfaat ekonomis tidak terbatas. Manajemen the indefinite economic useful life assumption Pada saat pengakuan awal, pinjaman diakui Loans are recognised initially at fair value, net
menilai asumsi masa manfaat ekonomis tidak applied to the acquired intangible assets sebesar nilai wajar, dikurangi dengan biaya- of transaction costs incurred. Loans are
terbatas yang diaplikasikan ke aset takberwujud annually. biaya transaksi yang terjadi. Selanjutnya, subsequently carried at amortised cost; any
yang diakuisisi setiap tahun. pinjaman diukur sebesar biaya perolehan difference between the proceeds and the
diamortisasi; selisih antara penerimaan dan nilai redemption value represents transaction costs
Spektrum, merk dan pelanggan diakui pada Spectrum, brand and customers are pelunasan merupakan biaya transaksi dan and is recognised in the consolidated
tanggal akuisisi (sebagai bagian dari kombinasi recognised at the acquisition date (part of dicatat pada laporan laba rugi konsolidasian statements of profit or loss over the period of
bisnis) dan disajikan sebesar nilai wajar aset business combination) and recorded at the fair selama periode pinjaman dengan the loans using the effective interest method.
takberwujud tersebut (lihat Catatan 8 dan 36). value of those intangible assets (see Notes 8 menggunakan metode bunga efektif.
and 36).
k. Sukuk ijarah k. Sukuk ijarah
Amortisasi dimulai pada saat aset tersedia Amortisation commences from the date when
untuk digunakan dan dicatat sebagai beban the assets are available for use and Sukuk ijarah diakui sebesar nilai nominal, Sukuk ijarah is recognised initially at nominal
amortisasi, dengan menggunakan metode garis recognised as amortisation expenses, using disesuaikan dengan premium atau diskonto dan value, adjusted with premium or discount and
lurus berdasarkan estimasi masa manfaat the straight-line method over their estimated biaya transaksi terkait. Perbedaan antara nilai the related transaction costs incurred. Any
ekonomis yang menghasilkan persentase economic useful lives and results in the tercatat dan nilai nominal diakui pada laporan differences between the carrying amount and
amortisasi tahunan dari harga perolehan atau following annual percentages of cost: laba rugi konsolidasian sebagai beban nominal value are recognised in the
nilai wajar sebagai berikut: penerbitan sukuk ijarah menggunakan metode consolidated statements of profit or loss as
garis lurus selama jangka waktu sukuk ijarah. sukuk ijarah issuance costs using the straight-
Persentase/ Tahun/ line method during the period of sukuk ijarah.
Percentages Years
Sukuk ijarah, setelah disesuaikan dengan Sukuk ijarah, adjusted with premium or
Merk 5% 20 Brand premium atau diskonto dan biaya transaksi discount and unamortised transaction costs, is
Pelanggan 6.25% 16 Customers yang belum diamortisasi, disajikan sebagai presented as part of liabilities.
Perangkat lunak 16.67%-50% 2-6 Software bagian dari liabilitas.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
l. Penjabaran mata uang asing l. Foreign currency translation m. Perpajakan (lanjutan) m. Taxation (continued)
Saldo dalam mata uang asing dijabarkan ke Balances denominated in foreign currencies Aset pajak tangguhan diakui apabila besar Deferred tax assets are recognised only if it is
mata uang Rupiah dengan menggunakan kurs are translated into Rupiah at the closing kemungkinan jumlah penghasilan kena pajak di probable that future taxable amounts will be
penutup yang ditetapkan oleh Bank Indonesia. exchange rates determined by Bank masa mendatang akan memadai untuk available to utilise those temporary differences
Indonesia. dikompensasi dengan perbedaan temporer dan and the unused tax losses carried forward.
rugi fiskal yang masih dapat dimanfaatkan.
Pada setiap tanggal pelaporan, aset dan At each reporting date, monetary assets and
liabilitas moneter dalam mata uang asing liabilities denominated in foreign currencies n. Imbalan kerja n. Employee benefits
dijabarkan ke mata uang Rupiah menggunakan are translated into Rupiah using closing
kurs penutup yang ditetapkan oleh Bank exchange rates determined by Bank Imbalan kerja jangka pendek Short-term employee benefits
Indonesia. Kurs dari mata uang asing utama Indonesia. The exchange rates of the major
yang digunakan adalah sebagai berikut (nilai foreign currencies used are as follows (full Imbalan kerja jangka pendek diakui pada saat Short-term employee benefits are recognised
Rupiah penuh): amount Rupiah): terutang kepada karyawan berdasarkan metode when they accrue to the employees.
akrual.
2023 2022
Imbalan kerja jangka panjang lainnya Other long-term employee benefits
1 Dolar Amerika United States
Serikat (USD) 15,416 15,731 Dollar (USD) 1 Perusahaan memberikan imbalan jangka The Company provides other long-term
1 Ringgit Malaysia Malaysian Ringgit panjang untuk tingkatan karyawan tertentu employee benefits to certain levels of its
(MYR) 3,342 3,556 (MYR) 1 dalam bentuk pembayaran kas yang dibayarkan employees in the form of cash consideration
pada tanggal realisasi, yaitu satu tahun setelah that is paid on release date, which is one year
Keuntungan atau kerugian dari selisih kurs, Realised and unrealised foreign exchange akhir periode vesting yang bersangkutan. after the end of the relevant vesting period.
yang sudah maupun yang belum terealisasi, gains or losses arising from transactions in
baik yang berasal dari transaksi dalam mata foreign currency and from the translation of Imbalan pascakerja Post-employment benefits
uang asing maupun penjabaran aset dan foreign currency monetary assets and liabilities
liabilitas moneter dalam mata uang asing diakui are recognised in the consolidated statements Imbalan pascakerja seperti pensiun, uang pisah Post-employment benefits such as retirement,
pada laporan laba rugi konsolidasian. of profit or loss. dan uang penghargaan masa kerja dihitung severance and service payments are
berdasarkan undang-undang ketenagakerjaan calculated based on the prevailing labour law.
m. Perpajakan m. Taxation yang berlaku.
Beban pajak penghasilan terdiri dari pajak The income tax expense comprises current Sehubungan dengan imbalan pensiun, sejak In relation to pension benefits, in April 2002
penghasilan kini dan pajak penghasilan and deferred income tax. Tax is recognised in bulan April 2002 Perusahaan mengikuti the Company entered into a defined
tangguhan. Pajak tersebut diakui dalam laporan the consolidated statements of profit or loss program pensiun iuran pasti yang contributions pension plan organised by
laba rugi konsolidasian , kecuali apabila pajak account, except to the extent that it relates to diselenggarakan oleh PT Asuransi Jiwa PT Asuransi Jiwa Manulife Indonesia.
tersebut terkait dengan transaksi atau kejadian items recognised directly in equity and other Manulife Indonesia.
yang langsung diakui ke ekuitas dan laba comprehensive income.
komprehensif lainnya. Program ini disediakan untuk semua karyawan This programme is provided to all permanent
tetap yang berumur di bawah 50 tahun pada employees who were under 50 years of age at
Pajak penghasilan kini dihitung dengan The current income tax is calculated using tax saat dimulainya program ini di bulan April 2002. the commencement of the programme in
menggunakan tarif pajak yang berlaku pada rates that have been enacted at the financial Kontribusi untuk program pensiun ini adalah April 2002. Contributions to the plan are 10%
tanggal posisi keuangan. position date. 10% dari gaji pokok bersih yang terdiri dari 7% of the net base salary, comprising 7% from the
berasal dari Perusahaan dan 3% berasal dari Company and 3% from the employee.
Pajak penghasilan tangguhan diakui dengan Deferred income tax is recognised using the
karyawan.
menggunakan balance sheet liability method, balance sheet liability method, for all
untuk semua perbedaan temporer antara dasar temporary differences arising between the tax
Karyawan berhak atas manfaat pensiun dari Employees are entitled to benefits from the
pengenaan pajak atas aset dan liabilitas bases of assets and liabilities and their
dana pensiun yang meliputi kontribusi dana pension plan, comprising pension fund
dengan nilai tercatatnya. carrying values.
pensiun dan akumulasi bunganya, apabila contributions and accumulated interest, on
karyawan tersebut pensiun, cacat, atau retirement, disability or death.
Pajak tangguhan diukur dengan menggunakan Deferred income tax is determined using tax
meninggal dunia.
tarif pajak yang berlaku atau secara substantif rates that have been enacted or substantially
berlaku pada tanggal laporan posisi keuangan enacted at the statements of financial position
konsolidasian dan diharapkan akan berlaku date and are expected to be applied when the
pada saat aset pajak tangguhan dipulihkan atau related deferred income tax asset is realised or
liabilitas pajak tangguhan diselesaikan. the deferred income tax liability is settled.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
n. Imbalan kerja (lanjutan) n. Employee benefits (continued) o. Aset dan liabilitas keuangan o. Financial assets and liabilities
Imbalan pascakerja Post-employment benefits Grup mengklasifikasikan aset keuangannya The Group classifies its financial assets in the
dalam kategori: (i) aset keuangan yang diukur following categories: (i) financial assets at fair
Sesuai dengan undang-undang In accordance with the prevailing labour law,
pada nilai wajar melalui laporan laba rugi atau value through statements of profit or loss or
ketenagakerjaan yang berlaku, Perusahaan the Company has further payment obligations
melalui penghasilan komprehensif lain, (ii) aset other comprehensive income, (ii) financial
berkewajiban menutupi kekurangan if the benefits provided by the existing plan do
keuangan yang diukur dengan biaya assets at amortised cost. Classification and
pembayaran pensiun bila program yang ada not adequately cover the obligations under the
diamortisasi. Klasifikasi dan pengukuran aset measurement of financial assets are based on
sekarang belum cukup untuk menutupi prevailing labour law.
keuangan harus didasarkan pada model bisnis the business model and contractual cash flows
kewajiban sesuai undang-undang
dan arus kas kontraktual – apakah semata dari – whether from solely payment of principal and
ketenagakerjaan yang berlaku.
pembayaran pokok dan bunga. Manajemen interest. Management determines the
Liabilitas yang diakui dalam laporan posisi The liabilities recognised in the consolidated menentukan klasifikasi aset keuangan tersebut classification of its financial assets at initial
keuangan konsolidasian adalah nilai kini financial statements of financial position are pada pengakuan awal. recognition.
liabilitas imbalan pasti pada tanggal laporan the present value of the defined benefit
posisi keuangan konsolidasian sesuai dengan obligations as at the consolidated financial Pada tanggal 31 Desember 2023, Grup memiliki On 31 December 2023, the Group has
Peraturan Grup. statements of financial position date in aset keuangan yang diklasifikasikan sebagai financial assets classified as financial assets
accordance with the Group’s regulations. aset keuangan yang diukur dengan biaya at amortised cost. Financial assets at
diamortisasi. Aset keuangan yang diukur amortised cost consist of cash and cash
Liabilitas imbalan pasti dihitung oleh aktuaris The defined benefit obligation is calculated by dengan biaya diamortisasi meliputi kas dan equivalents, trade receivables, contract
independen dengan menggunakan metode an independent actuary using the Projected setara kas, piutang usaha, aset kontrak, piutang assets, other receivables and other assets.
Projected Unit Credit. Dalam menghitung Unit Credit method. In calculating post- lain-lain dan aset lain-lain. Aset keuangan Financial assets in this category are classified
imbalan pascakerja, aktuaris independen telah employment benefits, the independent actuary diklasifikasikan sebagai aset lancar, jika jatuh as current assets if expected to be settled
memperhitungkan juga kontribusi yang telah has considered the contribution made by the tempo dalam waktu 12 bulan, jika tidak maka within 12 months, otherwise they are classified
dilakukan oleh Perusahaan kepada PT Asuransi Company to PT Asuransi Jiwa Manulife aset keuangan ini diklasifikasikan sebagai aset as non-current.
Jiwa Manulife Indonesia. Indonesia. tidak lancar.
Nilai kini liabilitas imbalan pasti ditentukan The present value of the defined benefit Aset keuangan yang diukur dengan biaya Financial assets at amortised cost are
dengan mendiskontokan estimasi arus kas obligation is determined by discounting the diamortisasi pada awalnya diakui sebesar nilai recognised initially at fair value plus
keluar masa depan dengan menggunakan estimated future cash outflows using the yield wajarnya ditambah dengan biaya-biaya transaction costs and subsequently measured
imbal hasil Obligasi Pemerintah dalam mata of Government Bonds that are denominated in transaksi dan selanjutnya diukur pada biaya at amortised cost using the effective interest
uang Rupiah, sama dengan mata uang di mana Rupiah, in which the benefits will be paid, and perolehan diamortisasi dengan menggunakan rate method.
imbalan tersebut akan dibayarkan, dan yang that have terms to maturity approximating to metode suku bunga efektif.
memiliki jangka waktu yang mendekati jangka the terms of the related pension liability.
waktu liabilitas imbalan pensiun yang Penurunan nilai aset keuangan Impairment of financial assets
bersangkutan.
Pada setiap periode pelaporan, Grup menilai At each reporting date, the Group assesses
Biaya jasa lalu diakui segera dalam laporan Past-service costs are recognised immediately
apakah risiko kredit dari instrumen keuangan whether the credit risk on a financial
laba rugi konsolidasian. in the consolidated statements of profit or loss.
telah meningkat secara signifikan sejak instrument has increased significantly since
Grup mengakui keuntungan atau kerugian atas The Group recognised gains or losses on the pengakuan awal. Ketika melakukan penilaian, initial recognition. When making the
kurtailmen atau penyelesaian suatu program curtailment or settlement of a defined benefit Grup menggunakan perubahan risiko gagal assessment, the Group uses the change in the
imbalan pasti ketika kurtailmen atau plan when the curtailment or settlement bayar yang terjadi sepanjang perkiraan umur risk of a default occurring over the expected
penyelesaian tersebut terjadi. Keuntungan atau occurs. The gain or loss on a curtailment or instrumen keuangan daripada perubahan atas life of the financial instrument instead of the
kerugian atas kurtailmen atau penyelesaian settlement comprises change in the present jumlah kerugian kredit ekspektasian. Dalam change in the amount of expected credit
terdiri dari perubahan yang terjadi dalam nilai value of the defined obligation and any related melakukan penilaian, Grup membandingkan losses. In making the assessment, the Group
kini kewajiban imbalan pasti. Keuntungan dan actuarial gains and losses. Actuarial gains and risiko gagal bayar yang terjadi atas instrumen compares the risk of default occurring on the
kerugian aktuarial yang timbul dari penyesuaian losses arising from experience adjustments keuangan pada tanggal pelaporan dengan risiko financial instrument as at the reporting date
pengalaman dan perubahan asumsi aktuarial and changes in actuarial assumptions are gagal bayar yang terjadi atas instrumen with the risk of default occurring on the
dibebankan atau dikreditkan pada laba charged or credited to other comprehensive keuangan pada saat pengakuan awal dan financial instrument at the initial recognition
komprehensif lainnya dalam laporan income in statement of other comprehensive mempertimbangkan kewajaran serta and consider reasonable and supportable
penghasilan komprehensif lain pada periode income in the period in which they arise. ketersediaan informasi, yang tersedia tanpa information available without undue cost or
terjadinya. biaya atau usaha pada saat tanggal pelaporan effort at the reporting date about past events,
terkait dengan kejadian masa lalu, kondisi current conditions and forecasts of future
terkini dan perkiraan atas kondisi ekonomi di economic conditions, that is indicative of
masa depan, yang mengindikasikan kenaikan significant increases in credit risk since initial
risiko kredit sejak pengakuan awal. recognition.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
o. Aset dan liabilitas keuangan (lanjutan) o. Financial assets and liabilities (continued) o. Aset dan liabilitas keuangan (lanjutan) o. Financial assets and liabilities (continued)
Penurunan nilai aset keuangan (lanjutan) Impairment of financial assets (continued) Liabilitas keuangan Financial liabilities
Grup menggunakan model kerugian kredit The Group uses the expected credit loss Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as follows:
ekspektasian untuk menilai penurunan nilai aset model to assess the impairment of financial berikut: (i) liabilitas keuangan yang diukur (i) financial liabilities at amortised cost,
keuangan. Grup menerapkan metode yang assets. The Group applies a simplified dengan biaya diamortisasi, (ii) liabilitas (ii) financial liabilities at fair value through profit
disederhanakan untuk mengukur kerugian approach to measure such expected credit keuangan yang diukur dengan nilai wajar and loss (FVTPL) or other comprehensive
kredit ekspektasian yang menggunakan loss which uses a lifetime expected loss melalui laba rugi atau melalui penghasilan income (FVOCI). The Group determines the
penyisihan kerugian kredit ekspektasian allowance for trade receivables and contract komprehensif lain. Grup menentukan klasifikasi classification of its financial liabilities at initial
sepanjang umurnya untuk semua piutang assets. Therefore, the Group does not track liabilitas keuangan mereka pada saat recognition.
usaha dan aset kontrak. Oleh karena itu, Grup changes in credit risk, but instead recognises pengakuan awal.
tidak mengidentifikasi perubahan dalam risiko allowance based on lifetime expected credit
kredit, melainkan mengukur penyisihan loss at each reporting date. Grup memiliki liabilitas keuangan yang The Group has financial liabilities classified
berdasarkan kerugian kredit ekspektasian diklasifikasikan dalam liabilitas keuangan yang into the financial liabilities measured at
sepanjang kepemilikan aset pada tanggal diukur dengan biaya perolehan diamortisasi. amortised cost. All financial liabilities are
pelaporan. Seluruh liabilitas keuangan diakui pada awalnya recognised initially at fair value and, in the
sebesar nilai wajar dan, dalam hal pinjaman case of loans and borrowings, inclusive of
Untuk mengukur kerugian kredit ekspektasian, To measure the expected credit losses, trade dan utang, termasuk biaya transaksi yang dapat directly attributable transaction costs and
piutang usaha dan aset kontrak telah receivables and contract assets have been diatribusikan secara langsung dan selanjutnya subsequently measured at amortised cost
dikelompokkan berdasarkan karakteristik risiko grouped based on the shared credit risk diukur pada biaya perolehan diamortisasi using the effective interest rate method. The
kredit yang sama dan hari lewat jatuh tempo. characteristics and the days past due. The dengan menggunakan metode suku bunga amortisation of the effective interest rate is
Aset kontrak terkait dengan jasa yang belum contract assets relate to unbilled service and efektif. Amortisasi suku bunga efektif termasuk included in finance costs in the consolidated
tertagih dan secara substantial memiliki have substantially the same risk di dalam biaya keuangan dalam laporan laba statements of profit or loss.
karakteristik risiko yang sama dengan piutang characteristics as the trade receivables. The rugi konsolidasian.
usaha. Oleh karena itu, Grup menilai bahwa Group has therefore concluded that the
tingkat kerugian ekspektasian untuk piutang expected loss rates for trade receivables are a Liabilitas keuangan yang diukur pada biaya Financial liabilities measured at amortised cost
usaha adalah perkiraan yang wajar dari tingkat reasonable approximation of the loss rates for perolehan diamortisasi antara lain utang usaha, are trade payables, accrued expenses, loans,
kerugian untuk aset kontrak. the contract assets. beban yang masih harus dibayar, pinjaman, sukuk ijarah, bonds payable and lease
sukuk ijarah, utang obligasi dan liabilitas sewa. liabilities. Financial liabilities are classified as
Tingkat kerugian kredit ekspektasian The expected credit loss is based on the Liabilitas keuangan diklasifikasikan sebagai non-current liabilities when the remaining
didasarkan pada profil pembayaran penjualan payment profiles of sales and the liabilitas jangka panjang jika jatuh tempo maturity is more than 12 months, and as
dan kerugian kredit historis terkait selama corresponding historical credit loss melebihi 12 bulan dan sebagai liabilitas jangka current liabilities when the remaining maturity
periode penjualan tersebut. Tingkat kerugian experienced within this sales period. The pendek jika jatuh tempo yang tersisa kurang is less than 12 months.
historis disesuaikan untuk mencerminkan historical loss rates are adjusted to reflect dari 12 bulan.
informasi terkini dan informasi forward-looking current and forward-looking information on
mengenai faktor-faktor makro ekonomi yang macroeconomic factors affecting the ability of Grup saat ini memiliki sejumlah kontrak dengan The Group currently has a number of contracts
memengaruhi kemampuan pelanggan untuk the customers to settle the receivables. tingkat bunga yang mengacu pada JIBOR dan whose interest rates refer to JIBOR and
melunasi piutang. berlaku hingga setelah tahun 2022. Pada extend beyond 2022. As at 31 December 2023
31 Desember 2023, suku bunga acuan the alternative benchmark is not yet
Grup menggunakan model penilaian individual The Group used individual assessment to alternatif belum ditentukan. Risiko yang timbul determined. Risks arising from the transition
untuk menilai penurunan nilai kas dan setara assess impairment of cash and cash dari transisi terutama terkait dengan potensi relate principally to the potential impact of rate
kas, piutang lain-lain dan investasi bersih dalam equivalents, other receivables and net dampak perbedaan suku bunga jika pinjaman differences if the debt does not transition to the
sewa pembiayaan. Grup menilai kerugian kredit investment in finance lease. The Group terkait tidak beralih ke suku bunga acuan baru new interest rate benchmark at the same time
ekspektasian yang harus diakui dari kas dan assessed expected credit losses recognised pada saat yang sama dan/atau suku bunga and/or the rates move by different amounts.
setara kas, piutang lain-lain dan investasi bersih from cash and cash equivalents, other bergerak dengan jumlah yang berbeda. Management will continue to monitor this and
dalam sewa pembiayaan tidak signifikan. receivables and net investment in finance Manajemen akan terus memonitor hal ini dan take the necessary actions to address related
lease and they were not considered significant. mengambil tindakan yang diperlukan untuk risks and uncertainties going forward.
mengatasi risiko dan ketidakpastian terkait di
masa mendatang.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY
(lanjutan) INFORMATION (continued) (lanjutan) INFORMATION (continued)
o. Aset dan liabilitas keuangan (lanjutan) o. Financial assets and liabilities (continued) q. Penurunan nilai aset non keuangan q. Impairment of non-financial assets
Goodwill dan aset non keuangan yang memiliki Goodwill and non-financial assets that have an
Liabilitas keuangan (lanjutan) Financial liabilities (continued)
masa manfaat yang tidak terbatas tidak indefinite useful life are not subject to
diamortisasi namun diuji penurunan nilainya amortisation but are tested annually for
Tabel berikut berisi rincian semua instrumen The following table contains details of all of the
setiap tahun, atau lebih sering apabila terdapat impairment, or more frequently if events or
keuangan yang dimiliki Grup pada tanggal financial instruments that the Group holds as
peristiwa atau perubahan keadaan yang changes in circumstances indicate that they
31 Desember 2023 yang mengacu pada JIBOR at 31 December 2023 which reference JIBOR
mengindikasikan penurunan nilai. are impaired.
dan belum bertransisi ke suku bunga acuan and have not yet transitioned to an alternative
alternatif: interest rate benchmark: Aset yang diamortisasi diuji ketika terdapat Assets that are subject to amortisation are
indikasi bahwa nilai tercatatnya mungkin tidak reviewed for impairment whenever events or
2023 2022 terpulihkan. Penurunan nilai diakui jika nilai changes in circumstances indicate that the
tercatat aset melebihi nilai terpulihkannya. Nilai carrying amount may not be recoverable. An
Pinjaman jangka panjang/ terpulihkan adalah nilai yang lebih tinggi antara impairment loss is recognised for the amount
Long-term loans 6,024,900 7,753,650 nilai wajar aset dikurangi biaya untuk menjual by which the asset’s carrying amount exceeds
dan nilai pakai aset. Dalam menentukan its recoverable amount. The recoverable
penurunan nilai, aset dikelompokkan pada amount is the higher of an asset’s fair value
Pemberhentian pengakuan liabilitas Derecognition of financial liabilities tingkat yang paling rendah di mana terdapat less costs of disposal and value in use. For
keuangan arus kas yang dapat diidentifikasi. the purposes of assessing impairment, assets
are grouped at the lowest levels for which
Liabilitas keuangan dihentikan pengakuannya Financial liabilities are derecognised when the there are separately identifiable cash flows.
jika liabilitas yang ditetapkan dalam kontrak obligation under the liability is discharged,
dilepaskan atau dibatalkan atau kadaluarsa. cancelled or expired. Aset non keuangan selain goodwill yang Non-financial assets other than goodwill that
mengalami penurunan nilai diuji setiap tanggal suffer impairment are reviewed for possible
Jika suatu liabilitas keuangan yang ada Where an existing financial liability is replaced pelaporan untuk menentukan apakah terdapat reversal of the impairment at each reporting
digantikan dengan liabilitas yang lain dengan by another liability with substantially different kemungkinan pemulihan penurunan nilai. date. Reversal on impairment loss for assets
persyaratan yang secara substansial berbeda, terms, or the terms of an existing liability are Pemulihan rugi penurunan nilai, untuk aset other than goodwill would be recognised if,
atau persyaratan liabilitas yang ada secara substantially modified, such an exchange or selain goodwill, diakui jika, dan hanya jika, and only if, there had been a change in
substansial telah diubah, maka pertukaran atau modification is treated as derecognition of the terdapat perubahan estimasi yang digunakan estimates used to determine the asset’s
modifikasi tersebut diperlakukan sebagai original liability and the recognition of a new dalam menentukan nilai terpulihkan aset sejak recoverable amount since the last impairment
penghentian pengakuan liabilitas awal dan liability, and the difference in the respective pengujian penurunan nilai terakhir kali. test was carried out. Reversal on impairment
pengakuan liabilitas baru, dan perbedaan nilai carrying amount is recognised in the Pembalikan rugi penurunan nilai tersebut diakui losses will be immediately recognised in profit
tercatat masing-masing diakui dalam laporan consolidated statements of profit or loss. segera dalam laba rugi, kecuali aset yang or loss, except for assets measured using the
laba rugi konsolidasian. disajikan pada jumlah revaluasian sesuai revaluation model as required by other SFAS.
dengan PSAK lain.
p. Instrumen keuangan disalinghapus p. Offsetting financial instruments
r. Laba bersih per saham r. Earnings per share
Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and
disalinghapus dan nilai netonya disajikan dalam the net amount is reported in the consolidated Laba bersih per saham dihitung dengan Earnings per share are calculated by dividing
laporan posisi keuangan konsolidasian jika statement of financial position when there is a membagi laba tahun berjalan dengan jumlah profit for the year by the weighted average
memiliki hak yang berkekuatan hukum untuk legally enforceable right to offset the rata-rata tertimbang saham biasa yang beredar number of ordinary shares outstanding during
melakukan saling hapus atas jumlah yang telah recognised amounts and there is an intention sepanjang periode pelaporan. the reporting period.
diakui tersebut dan berniat untuk to settle on a net basis, or realise the asset
s. Penggunaan estimasi s. Use of estimates
menyelesaikan secara neto atau untuk and settle the liability simultaneously. The
merealisasikan aset dan menyelesaikan legally enforceable right must not be Penyusunan laporan keuangan konsolidasian The preparation of consolidated financial
liabilitasnya secara simultan. Hak saling hapus contingent on future events and must be sesuai dengan Standar Akuntansi Keuangan di statements in conformity with the Indonesian
tidak kontinjen atas peristiwa di masa depan enforceable in the normal course of business Indonesia mengharuskan manajemen untuk Financial Accounting Standards requires
dan dapat dipaksakan secara hukum dalam and in the event of default, insolvency or membuat estimasi dan asumsi yang management to use estimates and
situasi bisnis yang normal dan dalam peristiwa bankruptcy of the Group or the counterparties. memengaruhi jumlah aset dan liabilitas, assumptions that affect the reported amounts
gagal bayar, atau peristiwa kepailitan atau pengungkapan aset dan liabilitas kontinjen of assets and liabilities, the disclosure of
kebangkrutan Grup atau pihak lawan. pada tanggal laporan keuangan konsolidasian contingent assets and liabilities as at the date
serta jumlah pendapatan dan beban selama of the consolidated financial statements and
periode pelaporan (lihat Catatan 36). Hasil yang the reported amounts of revenues and
sebenarnya mungkin berbeda dengan jumlah expenses during the reporting period (see
yang diestimasi. Note 36). Actual results could differ from those
estimates.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
2. INFORMASI KEBIJAKAN AKUNTANSI MATERIAL 2. MATERIAL ACCOUNTING POLICY 3. KAS DAN SETARA KAS 3. CASH AND CASH EQUIVALENTS
(lanjutan) INFORMATION (continued)
2023 2022
t. Goodwill t. Goodwill
Kas/Cash on hand 1,178 1,290
Goodwill atas akuisisi AXIS dan PT Hipernet Goodwill on the acquisition of AXIS and
Indodata (lihat Catatan 38) dicatat sebesar PT Hipernet Indodata (see Note 38) is carried Kas pada bank/Cash in banks
harga perolehan dikurangi dengan akumulasi at cost less accumulated impairment losses Rupiah:
kerugian penurunan nilai dan diuji penurunan and tested for impairment annually. - PT Bank Central Asia Tbk 151,607 80,287
nilainya setiap tahun. - PT Bank Maybank Indonesia Tbk 141,771 -
- PT Bank Permata Tbk 100,277 226,146
Goodwill dialokasikan pada setiap unit Goodwill is allocated to cash-generating units - PT Bank UOB Indonesia Tbk 85,212 179,985
penghasil kas atau kelompok unit penghasil kas or groups of cash-generating units for the - PT Bank CIMB Niaga Tbk 69,255 112,089
dalam rangka menguji penurunan nilai. Alokasi purpose of impairment testing. The allocation - Standard Chartered Bank 30,779 2,128,250
tersebut dibuat untuk unit penghasil kas atau is made to those cash-generating units or - PT Bank Rakyat Indonesia Tbk 19,132 -
kelompok unit penghasil kas yang diharapkan groups of cash-generating units that are - PT Bank Mandiri Tbk 16,274 29,144
mendapat manfaat dari kombinasi bisnis di expected to benefit from the business - PT Bank Danamon Indonesia Tbk 13,345 13,935
mana goodwill tersebut timbul. Kerugian combination in which the goodwill arose. - Lain-lain (masing-masing kurang dari Rp 10.000)/
penurunan nilai atas goodwill tidak dapat Impairment losses on goodwill are not Other (individual amount less than Rp 10,000) 17,723 40,869
dipulihkan. reversed.
USD:
u. Saham treasuri u. Treasury shares - J.P. Morgan Chase Bank, N.A. 94,492 19,451
Ketika Perusahaan membeli modal sahamnya When the Company purchases its own share Jumlah kas pada bank/Total cash in banks 739,867 2,830,156
sendiri (saham treasuri), imbalan yang dibayar, capital (treasury shares), the consideration
termasuk biaya tambahan yang secara paid, including any directly attributable Deposito berjangka/Time deposits
langsung dapat diatribusikan (dikurangi pajak incremental costs (net of income taxes) is Rupiah:
penghasilan) dikurangkan dari ekuitas yang deducted from equity attributable to the - PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 40,000 400,000
diatribusikan kepada pemilik ekuitas Company’s equity holders until the shares are - PT Bank Tabungan Negara Tbk 40,000 465,000
Perusahaan sampai saham tersebut dibatalkan cancelled or reissued. - PT KB Bank Bukopin Tbk 40,000 89,500
atau diterbitkan kembali. - PT Bank Mega Tbk 40,000 50,000
- PT Bank Pan Indonesia Tbk 40,000 -
Ketika saham biasa tersebut selanjutnya Where such ordinary shares are subsequently - J.P. Morgan Chase Bank, N.A 20,000 -
diterbitkan kembali, imbalan yang diterima, reissued, any consideration received, net of - PT Bank Tabungan Pensiunan Nasional Tbk 4,982 323,167
dikurangi biaya tambahan transaksi yang dapat any directly attributable incremental - PT Bank Maybank Indonesia Tbk - 370,000
diatribusikan dan dampak pajak penghasilan transaction costs and the related income tax - PT Bank ICBC Indonesia - 425,000
yang terkait dimasukkan pada ekuitas yang effects, is included in equity attributable to the - MUFG Bank, Ltd. - 160,000
dapat diatribusikan kepada pemilik ekuitas Company’s equity holders. - PT Bank CIMB Niaga Tbk - 70,000
Perusahaan.
Jumlah deposito berjangka/Total time deposits 224,982 2,352,667
v. Provisi v. Provision
Jumlah kas dan setara kas/Total cash and cash equivalents 966,027 5,184,113
Provisi diakui ketika: Grup memiliki kewajiban A provision is recognised when: the Group has
hukum atau konstruktif masa kini sebagai akibat a present legal or constructive obligation as a Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information.
peristiwa masa lalu; terdapat kemungkinan result of past events; it is probable that an pihak berelasi.
besar penyelesaian kewajiban tersebut outflow of resources will be required to settle
mengakibatkan arus keluar sumber daya; dan the obligation; and the amount has been Suku bunga per tahun setara kas selama tahun The annual interest rates of the cash equivalents
jumlah kewajiban tersebut dapat diukur secara reliably estimated. A provision is not berjalan adalah sebagai berikut: during the year are as follows:
andal. Provisi tidak diakui untuk kerugian recognised for future operating losses.
operasi masa depan. 2023 2022
Rupiah 4.25% - 6.30% 2.15% - 5.50% Rupiah
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Halaman - 5/38 - Page Halaman - 5/39 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
4. PIUTANG USAHA - PIHAK KETIGA 4. TRADE RECEIVABLES - THIRD PARTIES 4. PIUTANG USAHA - PIHAK KETIGA (lanjutan) 4. TRADE RECEIVABLES - THIRD PARTIES
(continued)
2023 2022
Perubahan cadangan penurunan nilai piutang Changes in the amounts of the provision for
Pihak domestik 854,471 661,525 Domestic parties adalah sebagai berikut: receivables impairment are detailed as follows:
Pihak internasional 288,269 137,050 International parties
2023 2022
1,142,740 798,575
Cadangan penurunan Provision for receivables
Cadangan penurunan Provision for receivables nilai piutang - awal 307,018 266,050 impairment - beginning
nilai piutang (272,636) (307,018) impairment Akuisisi entitas anak - 7,413 Acquisition of subsidiary
Penambahan cadangan Addition for receivables
870,104 491,557 penurunan nilai piutang 103,951 45,245 impairment
Penghapusbukuan piutang
Piutang usaha - pihak ketiga berdasarkan mata Trade receivables - third parties according to tidak tertagih (138,333) (11,690) Bad debts written off
uang adalah sebagai berikut: currency are as follows:
Cadangan penurunan Provision for receivables
2023 2022 nilai piutang - akhir 272,636 307,018 impairment – ending
Rupiah 820,859 664,096 Rupiah
Mata uang asing 321,881 134,479 Foreign currency Penyisihan dan pemulihan cadangan penurunan The addition and reversal of provision for
nilai piutang dicatat dalam beban umum dan receivables impairment have been included in
1,142,740 798,575 administrasi dalam laporan laba rugi konsolidasian. general and administrative expenses in the
consolidated statements of profit or loss.
Pada tanggal 31 Desember 2023 dan 2022 rincian As at 31 December 2023 and 2022 the detail ageing
umur dan penurunan nilai piutang usaha adalah and impairment on trade receivables are as follows: Manajemen berkeyakinan bahwa cadangan Management believes that the provision for
sebagai berikut: penurunan nilai piutang telah memadai untuk receivables impairment is adequate to cover losses
menutup kerugian atas piutang usaha tidak tertagih from uncollectible accounts based on the review of
2023 2022 berdasarkan hasil penelaahan atas masing-masing the status of the individual and collective trade
piutang dan secara kolektif pada akhir tahun. receivables at the end of the year.
Nilai bruto: Gross amount:
Belum lewat jatuh tempo 558,258 162,866 Not past due Pada tanggal 31 Desember 2023 dan 2022, Grup As at 31 December 2023 and 31 December 2022,
mencatat kontrak aset masing-masing sebesar the Group recorded contract assets amounting to
Lewat jatuh tempo: Past due: Rp 18.624 dan Rp 16.154, yang disajikan sebagai Rp 18,624 and Rp 16,154, respectively, which are
- Lewat jatuh tempo < 30 hari 198,649 113,815 Overdue < 30 days - piutang usaha. presented as trade receivables.
- Lewat jatuh tempo 31 - 60 hari 56,686 34,153 Overdue 31 - 60 days -
- Lewat jatuh tempo > 60 hari 329,147 487,741 Overdue > 60 days - Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information,
pihak berelasi, Catatan 23 untuk informasi aset Note 23 for contract assets information and Note
584,482 635,709 kontrak dan Catatan 35 untuk pengungkapan 35 for additional disclosures required by SFAS 60.
tambahan yang diharuskan oleh PSAK 60.
1,142,740 798,575
Cadangan penurunan nilai: Provision for impairment:
- Belum jatuh tempo (30,053) (10,886) Not past due -
- Lewat jatuh tempo < 30 hari (20,459) (10,553) Overdue < 30 days -
- Lewat jatuh tempo 31 - 60 hari (7,020) (2,579) Overdue 31 - 60 days -
- Lewat jatuh tempo > 60 hari (215,104) (283,000) Overdue > 60 days -
(272,636) (307,018)
Piutang usaha – setelah Trade receivables -
dikurangi cadangan net of provision for
penurunan nilai piutang 870,104 491,557 receivables impairment
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
5. BEBAN DIBAYAR DIMUKA 5. PREPAYMENTS 6. ASET LAIN-LAIN (lanjutan) 6. OTHER ASSETS (continued)
Akun ini terdiri dari beban dibayar dimuka untuk This account represents prepaid expenses for Uang muka terdiri dari uang muka kepada karyawan Advances represent advances to employees and
transaksi sewa, asuransi, pemeliharaan dan beban rental, insurance, maintenance and annual dan untuk pembayaran beban-beban Grup, seperti for the payment of the Group’s expenses, such as
frekuensi tahunan. frequency fee. utilitas dan bea masuk. utilities and customs duties.
Beban frekuensi tahunan mencakup beban The annual frequency fees comprised spectrum Investasi bersih dalam sewa pembiayaan Net investments in finance leases are receivables
pemakaian spektrum. fees. merupakan piutang atas transaksi sewa jaringan related to the lease of fibre optics network to PT
serat optik Grup oleh PT Indosat Tbk (dahulu Indosat Tbk (formerly PT Hutchison 3 Indonesia)
2023 2022 PT Hutchison 3 Indonesia) (lihat Catatan 32). (see Note 32).
Beban frekuensi tahunan Rincian investasi bersih dalam sewa pembiayaan Details of the net investment in finance lease
dibayar dimuka 3,302,389 3,222,624 Prepaid annual frequency fee berdasarkan masa jatuh temponya adalah sebagai according to the maturity schedule are as follows:
Sewa dibayar dimuka - berikut:
bagian lancar* 520,295 438,370 Prepaid rental - current*
Beban dibayar dimuka lainnya - Other prepaid expenses - 2023 2022
bagian lancar 302,787 47,027 current
Kurang dari 1 tahun 51,122 52,169 Not later than 1 year
Bagian lancar 4,125,471 3,708,021 Current portion
Investasi bersih dalam Net investment in
Beban dibayar dimuka lainnya - Other prepaid expenses - sewa pembiayaan 51,122 52,169 finance lease
bagian tidak lancar 44,258 71,151 non-current
Selama tahun pelaporan, perubahan dari investasi During the financial year, the changes of the net
44,258 71,151 bersih dalam sewa pembiayaan disebabkan oleh investment in finance lease are due to the following
hal-hal berikut: reasons:
Jumlah beban dibayar dimuka 4,169,729 3,779,172 Total prepayments
2023 2022
* Terdiri dari sewa jangka pendek dan bernilai rendah, komponen * Consist of short-term and low value leases, non-lease
non-sewa dan kontrak jasa yang tidak memenuhi kriteria sewa component and service contracts which do not meet the lease
berdasarkan PSAK 73. criteria under SFAS 73.
Saldo awal 52,169 111,965 Beginning balance
Penghentian sewa Lease termination during
selama periode pelaporan - (77,132) the financial period
6. ASET LAIN-LAIN 6. OTHER ASSETS Lainnya (1,047) 17,336 Others
2023 2022 Saldo akhir 51,122 52,169 Ending balance
Investasi bersih dalam sewa Net investment in finance Penerimaan sewa dari kontrak sewa di mana Grup Lease income from lease contracts in which the
pembiayaan 51,122 52,169 lease adalah pesewa adalah sebagai berikut: Group act as a lessor is as follows:
Saldo bank yang dibatasi
penggunaannya 997 1,955 Restricted cash in banks 2023 2022
Uang muka 134,711 123,638 Advances
Penghasilan keuangan atas Finance income on
Bagian lancar 186,830 177,762 Current portion investasi bersih the net investment
sewa - 4,327 in the lease
Uang muka kepada pemasok 386,552 392,433 Downpayment to suppliers
Beban tangguhan 20,105 19,597 Deferred charges
Lain-lain 54,580 50,903 Others
Bagian tidak lancar 461,237 462,933 Non-current portion
Jumlah aset lain-lain 648,067 640,695 Total other assets
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
7. ASET TETAP 7. FIXED ASSETS 7. ASET TETAP (lanjutan) 7. FIXED ASSETS (continued)
Reklasifikasi Dialihkan
sebagai aset dari kelompok
takberwujud lepasan yang
dan beban diklasifikasikan
dibayar sebagai
di muka/ tersedia
Reclassification untuk dijual/
to intangible Transfer from Akuisisi
Penambahan/ assets and Pelepasan/ Reklasifikasi/ disposal group entitas anak/
01/01/2023 Additions prepayments Disposals Reclassification 31/12/2023 Penambahan/ classified as Pelepasan/ Reklasifikasi/ Acquisition of
01/01/2022 Additions held for sale Disposals Reclassification a subsidiary 31/12/2022
Aset kepemilikan Direct ownership
langsung: assets: Aset kepemilikan Direct ownership
Harga perolehan Cost langsung: assets:
Tanah 227,269 - - - - 227,269 Land Harga perolehan Cost
Bangunan 64,042 4 - (306) 29 63,769 Buildings Tanah 228,027 - - (758) - - 227,269 Land
Peralatan Bangunan 62,534 1,248 - - 260 - 64,042 Buildings
jaringan 105,076,205 3,154,046 - (1,529,995) 4,288,570 110,988,826 Network equipment Network
Prasarana Leasehold Peralatan jaringan 99,014,705 3,718,546 20,941 (1,619,597) 3,941,610 - 105,076,205 equipment
kantor 314,224 2,019 - (7,171) 3,226 312,298 improvements Leasehold
Mesin dan Machinery and Prasarana kantor 314,319 480 - (1,246) 671 - 314,224 improvements
peralatan 5,673,832 123,753 (115,420) (229,917) 94,186 5,546,434 equipment Mesin dan Machinery and
Perabot dan Furniture peralatan 5,225,120 224,379 - (21,928) 230,691 15,570 5,673,832 equipment
Perlengkapan 96,522 1,265 - (415) 670 98,042 and fixtures Perabot dan Furniture
Sistem perlengkapan 97,097 291 - (1,148) 114 168 96,522 and fixtures
pendukung 3,853,936 15,646 (256,010) (275,665) 447,829 3,785,736 Support systems Sistem pendukung 3,525,609 150,147 - (56) 178,236 - 3,853,936 Support systems
Kendaraan Kendaraan bermotor 3,880 1,422 - - - 5,767 11,069 Motor vehicles
bermotor 11,069 1,410 - (191) - 12,288 Motor vehicles
108,471,291 4,096,513 20,941 (1,644,733) 4,351,582 21,505 115,317,099
115,317,099 3,298,143 (371,430) (2,043,660) 4,834,510 121,034,662
Right-of-use Right-of-use
Aset hak guna: assets: Aset hak guna: assets:
Tanah 460,509 78,670 - - - 539,179 Land Tanah 392,328 54,395 13,786 - - - 460,509 Land
Bangunan 399,182 45,191 - - - 444,373 Buildings Bangunan 392,469 6,298 - - - 415 399,182 Buildings
Peralatan jaringan 42,681,704 8,612,777 - (385,955) - 50,908,526 Network equipment Network
Peralatan jaringan 32,653,702 10,027,339 663 - - - 42,681,704 equipment
43,541,395 8,736,638 - (385,955) - 51,892,078
33,438,499 10,088,032 14,449 - - 415 43,541,395
158,858,494 12,034,781 (371,430) (2,429,615) 4,834,510 172,926,740
141,909,790 14,184,545 35,390 (1,644,733) 4,351,582 21,920 158,858,494
Aset tetap dalam Fixed assets under
Pembangunan 2,631,819 3,497,223 - - (4,834,510) 1,294,532 construction
Aset tetap dalam Fixed assets under
161,490,313 15,532,004 (371,430) (2,429,615) - 174,221,272 pembangunan 2,017,293 4,966,108 - - (4,351,582) - 2,631,819 construction
Akumulasi Accumulated 143,927,083 19,150,653 35,390 (1,644,733) - 21,920 161,490,313
penyusutan: depreciation:
Bangunan (63,251) (824) - 306 - (63,769) Buildings Akumulasi Accumulated
Peralatan jaringan (76,471,770) (5,679,263) - 1,529,316 - (80,621,717) Network equipment penyusutan: depreciation:
Leasehold Bangunan (60,950) (2,301) - - - - (63,251) Buildings
Prasarana kantor (310,248) (6,000) - 7,171 - (309,077) improvements Network
Mesin dan Machinery and Peralatan jaringan (72,991,534) (5,031,129) (18,342) 1,569,235 - - (76,471,770) equipment
peralatan (4,602,339) (496,694) 61,904 147,932 - (4,889,197) equipment Leasehold
Perabot dan Furniture Prasarana kantor (296,902) (14,592) - 1,246 - - (310,248) improvements
perlengkapan (95,176) (1,253) - 415 - (96,014) and fixtures Mesin dan Machinery and
Sistem peralatan (4,077,747) (546,520) - 21,928 - - (4,602,339) equipment
pendukung (3,147,395) (334,158) 49,890 47,327 - (3,384,336) Support systems Perabot dan Furniture
Kendaraan perlengkapan (93,586) (2,738) - 1,148 - - (95,176) and fixtures
bermotor (4,452) (5,670) - 191 - (9,931) Motor vehicles Sistem pendukung (2,776,166) (371,285) - 56 - - (3,147,395) Support systems
Kendaraan bermotor (3,878) (574) - - - - (4,452) Motor vehicles
(84,694,631) (6,523,862) 111,794 1,732,658 - (89,374,041)
(80,300,763) (5,969,139) (18,342) 1,593,613 - - (84,694,631)
Right-of-use
Aset hak guna: assets: Right-of-use
Tanah (219,093) (69,460) - - - (288,553) Land Aset hak guna: assets:
Bangunan (150,488) (69,499) - - - (219,987) Buildings Tanah (127,981) (84,147) (6,965) - - - (219,093) Land
Peralatan jaringan (15,952,472) (4,684,937) - 189,172 - (20,448,237) Network equipment Bangunan (110,053) (40,435) - - - - (150,488) Buildings
Network
(16,322,053) (4,823,896) - 189,172 - (20,956,777) Peralatan jaringan (11,476,072) (4,475,901) (499) - - - (15,952,472) equipment
(101,016,684) (11,347,758) 111,794 1,921,830 - (110,330,818) (11,714,106) (4,600,483) (7,464) - - - (16,322,053)
Nilai buku bersih 60,473,629 63,890,454 Net book value (92,014,869) (10,569,622) (25,806) 1,593,613 - - (101,016,684)
Nilai buku bersih 51,912,214 60,473,629 Net book value
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
7. ASET TETAP (lanjutan) 7. FIXED ASSETS (continued) 7. ASET TETAP (lanjutan) 7. FIXED ASSETS (continued)
Pada tanggal 31 Desember 2023 dan 2022 tidak As at 31 December 2023 and 2022 none of the Aset tetap dalam pembangunan: Fixed assets under construction:
terdapat aset tetap Grup yang digunakan sebagai Group’s fixed assets were used as collateral to
agunan kepada pihak ketiga. third parties. Aset tetap dalam pembangunan pada tanggal Fixed assets under construction as at
31 Desember 2023 dan 2022, terutama terdiri dari 31 December 2023 and 2022, mainly represent
Grup mempunyai tanah yang tersebar di seluruh The Group owns land located throughout Indonesia peralatan BTS baru, backbone dan perangkat new BTS equipment, backbone and other
Indonesia berdasarkan Hak Guna Bangunan with Hak Guna Bangunan (“HGB”) for the years of lainnya yang akan atau sedang dipasang. Saldo equipment which is still to be installed or is
(“HGB”) yang mempunyai masa manfaat antara 9-30 years which will expire between aset tetap dalam pembangunan pada tanggal currently being installed. Balance of fixed assets
9-30 tahun yang akan berakhir antara January 2024 and September 2047. Management 31 Desember 2023 dan 2022 adalah sebagai under construction as at 31 December 2023 and
Januari 2024 sampai dengan September 2047. believes that the land rights are renewable. berikut: 2022 is as follows:
Manajemen berkeyakinan bahwa hak atas tanah
dapat diperbaharui. 2023 2022
Per tanggal 31 Desember 2023, nilai buku atas As at 31 December 2023, total book value of land Peralatan jaringan 333,401 1,587,719 Network equipment
tanah yang sertifikat HGB-nya masih dalam proses which HGB certificates are in process is amounting Lain-lain 961,131 1,044,100 Others
pengurusan adalah sebesar Rp 37.509. to Rp 37,509.
Jumlah aset dalam penyelesaian 1,294,532 2,631,819 Total assets under construction
Perhitungan keuntungan penjualan serta klaim The calculation of the gain on sale, insurance claim
asuransi dan penghapusan aset tetap di luar and write-off of fixed assets excluding sales Persentase penyelesaian Percentage of completion
transaksi penjualan yang terkait transaksi penjualan transaction related to sale and leaseback of towers dari nilai kontrak 1 - 99% 1 - 99% from contract value
dan sewa balik menara adalah sebagai berikut: transaction is as follows:
Aset tetap dalam pembangunan pada tanggal Fixed assets under construction as at
2023 2022 31 Desember 2023 diperkirakan akan selesai dalam 31 December 2023 are expected to be complete
dua belas bulan ke depan. within the next twelve months.
Penerimaan dari aset tetap Proceeds from sale
yang dijual dan of fixed assets and Transaksi jual dan sewa balik menara: Tower sale and leaseback transaction:
klaim asuransi 10,955 107,603 insurance claims
Grup telah menyelesaikan jual dan sewa balik The Group completed the tower sale and
Dikurangi: Less: menara dengan PT Profesional Telekomunikasi leaseback with PT Profesional Telekomunikasi
Harga perolehan 1,671,045 1,644,733 Cost Indonesia (“Protelindo”) dan PT Solusi Tunas Indonesia (“Protelindo”) and PT Solusi Tunas
Akumulasi penyusutan (1,617,263) (1,593,615) Accumulated depreciation Pratama Tbk (“STP”) masing-masing pada tahun Pratama Tbk (“STP”) in 2016 and 2014,
2016 dan 2014. Sehubungan dengan transaksi ini, respectively. In relation to this transaction, the
Nilai buku bersih 53,782 51,118 Net book value Grup mencatat aset yang disewa sebesar nilai kini Group recorded the leased assets at present value
dari pembayaran sewa minimum dan liabilitas yang of the minimum lease payments and the related
(Kerugian)/keuntungan penjualan (Loss)/gain on sale and terkait dicatat sebagai liabilitas sewa (lihat Catatan liability is recorded as lease liabilities (see Note
dan pelepasan aset tetap (42,827) 56,485 disposal of fixed asset 14). Keuntungan dari penjualan dan sewa balik 14). The gain from sale and finance leaseback was
pembiayaan ditangguhkan dan diamortisasi selama deferred and amortised over the leaseback period
periode sewanya (lihat Catatan 12 dan 32). Jumlah (see Notes 12 and 32). The amount of amortisation
Untuk tahun yang berakhir pada For the year ended 31 December 2023, the Group amortisasi dari keuntungan terkait penjualan dan relating to gain from sale and finance leaseback for
31 Desember 2023, Grup membebankan aset tetap charged certain fixed assets which do not fulfill sewa balik pembiayaan untuk tahun yang berakhir the years ended 31 December 2023 and 2022
tertentu yang tidak memenuhi kriteria aset tetap fixed assets criteria amounting to Rp 256,544 to pada 31 Desember 2023 dan 2022 adalah sebesar amounted to Rp 422,873.
sebesar Rp 256.544 pada laba rugi konsolidasian current period consolidated profit or loss. Rp 422.873.
tahun berjalan.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
7. ASET TETAP (lanjutan) 7. FIXED ASSETS (continued) 7. ASET TETAP (lanjutan) 7. FIXED ASSETS (continued)
Transaksi jual dan sewa balik menara: (lanjutan) Tower sale and leaseback transaction: Transaksi jual dan sewa balik menara: (lanjutan) Tower sale and leaseback transaction:
(continued) (continued)
Pada tanggal 31 Desember 2022, Grup telah As at 31 December 2022, the Group completed Nilai buku bersih aset tetap dan beban dibayar The net book value of fixed assets and
menyelesaikan penjualan atas masing-masing 761 sale of each of 761 towers and leaseback of dimuka yang dilepaskan masing-masing adalah prepayments disposed was Rp 185,119 and
menara dan sewa balik sebagian ruang untuk specific tower spaces on some towers with PT sebesar Rp 185.119 dan Rp 37.873 pada Rp 37,873, respectively in 31 December 2022. In
sebagian menara dengan PT Edotco Infrastruktur Edotco Infrastruktur Indonesia (“Edotco”) with total 31 Desember 2022. Sehubungan dengan transaksi relation to this transaction, the Group recorded gain
Indonesia (“Edotco”) dengan nilai transaksi sebesar consideration of Rp 668,046. At the same time, ini, Grup telah membukukan keuntungan atas on sale amounting to Rp 202,126 and loss on sale
Rp 668.046. Pada saat yang sama, Edotco Edotco leased 109 plot of land owned by the Group penjualan yang telah dicatat sebesar Rp 202.126 and leaseback amounting to Rp 179,126, net of
menyewa 109 plot tanah yang dimiliki oleh Grup with total consideration of Rp 42,443 for the next dan kerugian atas penjualan dan sewa balik yang transaction costs and the related other assets or
dengan nilai transaksi sebesar Rp 42.443 untuk 10 years (see Note 32). The amount paid by telah dicatat sebesar Rp 179.126, setelah dikurang liabilities given up. The Group recorded the right-of-
10 tahun ke depan (lihat Catatan 32). Jumlah yang Edotco for land lease is considered as lease biaya transaksi dan aset atau liabilitas terkait. Grup use assets for the retained portion of the net book
dibayarkan oleh Edotco untuk sewa tanah dicatat incentives for the Group’s leaseback each mencatat aset hak guna sebesar porsi yang ditahan value disposed, after taking into account any
sebagai insentif sewa untuk sewa balik Grup amounting to Rp 22,321 in lease liabilities. A dari nilai buku bersih aset yang dilepaskan, setelah adjustment as a result of the consideration being
sebesar Rp 22.321 pada liabilitas sewa. Porsi portion of the cash consideration received as of mempertimbangkan segala penyesuaian yang higher or lower than the fair value of assets. The
penerimaan yang diterima pada tanggal 31 December 2023 and 2022 amounting to timbul karena nilai transaksi lebih tinggi atau lebih Group also recorded the lease liabilities at present
31 Desember 2023 dan 2022 masing-masing Rp 3,423 and Rp 72,869, respectively represents rendah dari nilai wajar aset. Grup juga mencatat value of the minimum lease payments during the
sebesar Rp 3.423 dan Rp 72.869 merupakan proceeds from the sale of specific tower space and liabilitas sewa sebesar nilai kini dari pembayaran lease period (see Note 14). For this transaction, the
penerimaan dari penjualan ruang tertentu pada proceeds attributable to the proportion of the rights sewa minimum selama masa sewa (lihat Catatan Group has recorded right-of-use assets and lease
menara dan penerimaan yang dapat diatribusikan transferred to Edotco, and therefore is presented 14). Atas transaksi ini, Grup telah mencatat aset hak liabilities, excluding lease incentive, amounted to
dari proporsi hak yang dialihkan ke Edotco sehingga as part of cash flows from investing activities. guna dan liabilitas sewa, tidak termasuk insentif Rp 194,950 and Rp 602,541, respectively in
dicatat sebagai arus kas dari aktivitas investasi. sewa, masing-masing sebesar Rp 194.950 dan 31 December 2022.
Rp 602.541 pada 31 Desember 2022.
Porsi penerimaan lain pada tanggal Another portion of cash consideration received as
31 Desember 2023 dan 2022 masing-masing of 31 December 2023 and 2022 amounting to Selama tahun yang berakhir pada During the year ended on 31 December 2023, the
sebesar Rp 13.669 dan Rp 375.627 merupakan Rp 13,669 and Rp 375,627, respectively 31 Desember 2023, Grup membukukan kerugian Group recorded loss from tower sale and
porsi penerimaan yang dapat diatribusikan dari represents proceeds attributable from the dari penjualan dan sewa balik menara sebesar leaseback of Rp 146 as a result by the claim
proporsi aset hak guna atas aset pendasar yang proportion of the right-of-use over the underlying Rp 146 akibat klaim yang diajukan Edotco. submitted by Edotco.
dipertahankan dan dicatat sebagai arus kas dari asset being retained and therefore is presented as
aktivitas pendanaan. Sisa porsi penerimaan pada part of cash flows from financing activities. The
tanggal 31 Desember 2022 sebesar Rp 20.123 remaining cash consideration received as of Selama tahun yang berakhir pada 31 Desember During the year ended on 31 December 2022, the
merupakan porsi penerimaan dari sewa tanah yang 31 December 2022 amounting to Rp 20,123 2022, Grup membukukan keuntungan dari penjualan Group has recorded gain from sales and leaseback
dibayarkan dimuka dan dicatat sebagai bagian dari represents proceeds from land lease paid upfront dan sewa balik sebesar Rp 932 akibat penyelesaian of Rp 932 as a result from the completion of the
arus kas dari aktivitas operasi. Transaksi ini and presented as part of cash flows from operating penjualan dan sewa balik kabel serat optik dengan sales and leaseback of the fiber optic cable with
memenuhi kriteria penjualan berdasarkan PSAK 72. activities. This transaction qualifies as a sale PT Integrasi Jaringan Ekosistem. PT Integrasi Jaringan Ekosistem.
Pada tanggal 31 Desember 2023 dan 2022, porsi according to SFAS 72. As at 31 December 2023
pembayaran yang belum diterima dari Edotco and 2022, the remaining outstanding consideration Pada tanggal 31 Desember 2023, Grup telah As at 31 December 2023, the Group completed
masing-masing sebesar Rp 208.013 dan from Edotco of Rp 208,013 and Rp 220,144, menyelesaikan penjualan atas masing-masing 54 sale of each 54 towers and leaseback of specific
Rp 220.144 dicatat sebagai piutang lain-lain. respectively is recorded as other receivables. menara dan sewa balik sebagian ruang untuk tower spaces on some towers with PT Dayamitra
sebagian menara dengan PT Dayamitra Telekomunikasi Tbk (“Mitratel”) with total
Telekomunikasi Tbk (“Mitratel”) dengan nilai consideration of Rp 36,624. A portion of the cash
transaksi Rp 36.624. Porsi penerimaan yang consideration received amounting to Rp 8,665
diterima sebesar Rp 8.665 merupakan penerimaan represents proceeds from the sale of specific tower
dari penjualan ruang tertentu pada menara dan space and proceeds attributable to the proportion
penerimaan yang dapat diatribusikan dari proporsi of the rights transferred to Mitratel, and therefore is
hak yang dialihkan ke Mitratel sehingga dicatat presented as part of cash flows from investing
sebagai arus kas dari aktivitas investasi. Sisa porsi activities. Another remaining portion of cash
penerimaan lain sebesar Rp 27.959 merupakan consideration received amounting to Rp 27,959
porsi penerimaan yang dapat diatribusikan dari represents proceeds attributable from the
proporsi aset hak guna atas aset pendasar yang proportion of the right-of-use over the underlying
dipertahankan dan dicatat sebagai arus kas dari asset being retained and therefore is presented as
aktivitas pendanaan. part of cash flows from financing activities.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
7. ASET TETAP (lanjutan) 7. FIXED ASSETS (continued) 8. ASET TAKBERWUJUD 8. INTANGIBLE ASSETS
Transaksi jual dan sewa balik menara: (lanjutan) Tower sale and leaseback transaction:
Reklasifikasi
(continued) dari aset tetap/
Reclassification
Nilai buku bersih aset tetap dan beban dibayar The net book value of fixed assets and Penambahan/ from fixed
01/01/2023 Additions assets 31/12/2023
dimuka yang dilepaskan masing-masing adalah prepayments disposed was Rp 4,312 and Rp 858,
sebesar Rp 4.312 dan Rp 858 pada 31 Desember respectively in 31 December 2023. In relation to Harga perolehan Cost
2023. Sehubungan dengan transaksi ini, Grup telah this transaction, the Group recorded gain on sale Spektrum 5,712,343 - - 5,712,343 Spectrum
membukukan keuntungan atas penjualan yang telah amonting to Rp 14,483 and loss on sale and Merk 295,258 - - 295,258 Brand
Pelanggan 265,023 - - 265,023 Customers
dicatat sebesar Rp 14.483 dan kerugian atas leaseback amounting to Rp 13,149 net of Perangkat lunak - 362,530 323,858 686,388 Software
penjualan dan sewa balik yang telah dicatat sebesar transaction costs and the related other assets and Biaya kontrak 51,404 137,991 - 189,395 Contract cost
Rp 13.149 setelah dikurang biaya transaksi dan aset liabilities given up. For this transaction, the Group
6,324,028 500,521 323,858 7,148,407
atau liabilitas terkait. Atas transaksi ini, Grup telah has recorded right-of-use assets and lease Akumulasi amortisasi Accumulated amortisation
mencatat aset hak guna dan liabilitas sewa, masing- liabilities amounting to Rp 3,703 and Rp 34,541 Merk (167,584) (6,547) - (174,131) Brand
masing sebesar Rp 3.703 dan Rp 34.541 pada respectively in 31 December 2023. Pelanggan (131,952) (8,585) - (140,537) Customers
31 Desember 2023. Perangkat lunak - (142,083) (111,598) (253,681) Software
Biaya kontrak* (36,024) (90,148) - (126,172) Contract cost*
Informasi lainnya: Other information: (335,560) (247,363) (111,598) (694,521)
Nilai buku bersih 5,988,468 6,453,886 Net book value
Pada tanggal 31 Desember 2023, aset tetap Grup As at 31 December 2023, the fixed assets of the
diasuransikan terhadap semua risiko dan gangguan Group are insured by insurance policies covering
usaha dengan nilai pertanggungan sejumlah all risks to property and business interruption Akuisisi
Rp 48.054.545 kepada perusahaan asuransi pihak amounting to Rp 48,054,545 to third party entitas anak/
ketiga, yang menurut pendapat manajemen cukup insurance company, which management believes Penambahan/ Acquisition of
01/01/2022 Additions a subsidiary 31/12/2022
untuk menutup kemungkinan kerugian yang terjadi. is adequate to cover possible losses which may
arise. Harga perolehan Cost
Spektrum 5,712,343 - - 5,712,343 Spectrum
Merk 164,310 - 130,948 295,258 Brand
Pada tanggal 31 Desember 2023, nilai jual objek As at 31 December 2023, the sale value of the tax Pelanggan 127,659 - 137,364 265,023 Customers
pajak (“NJOP”) untuk tanah dan bangunan yang object (“NJOP”) of the Group’s land and buildings Biaya kontrak 17,065 34,339 - 51,404 Contract cost
dimiliki Grup adalah sebesar Rp 447.606. NJOP amounted to Rp 447,606. The NJOP is determined
ditentukan oleh pemerintah daerah. by the regional government. 6,021,377 34,339 268,312 6,324,028
Akumulasi amortisasi Accumulated amortisation
Pada tanggal 31 Desember 2023, Grup memiliki As at 31 December 2023, the Group had assets Merk (164,310) - (3,274) (167,584) Brand
aset-aset yang telah sepenuhnya disusutkan namun that were fully depreciated but still used to support Pelanggan (127,659) - (4,293) (131,952) Customers
Biaya kontrak* (16,850) (19,174) - (36,024) Contract cost*
masih digunakan untuk menunjang aktivitas operasi the Group’s operation activities. The gross carrying
Grup. Nilai tercatat bruto dari aset-aset tersebut amount of such assets as of 31 December 2023 (308,819) (19,174) (7,567) (335,560)
pada tanggal 31 Desember 2023 sebesar amounting to Rp 18,702,368.
Rp 18.702.368. Nilai buku bersih 5,712,558 5,988,468 Net book value
* Amortisasi biaya kontrak dicatat dalam beban penjualan dan * Amortisation expense from contract cost was recorded as
Pada tanggal 31 Desember 2023 dan 2022, Grup As at 31 December 2023 and 2022, the Group pemasaran. sales and marketing expenses.
menilai estimasi masa manfaat aset tetap. Mengikuti assesses the estimated useful life of the fixed
rencana manajemen untuk mengoptimalkan desain assets. Following management’s plan to optimise Pada bulan Juni 2022, Perusahaan telah In June 2022, the Company acquired PT Hipernet
jaringan, manajemen memutuskan untuk its network design, management decided to mengakuisisi PT Hipernet Indodata (lihat Catatan Indodata (see Note 37). As a result, the Company
mempersingkat masa manfaat peralatan jaringan shorten the useful lives of certain network 37). Atas transaksi ini, Perusahaan mencatat recorded goodwill (see Note 38) and acquired
tertentu sesuai dengan rencana jaringan terbaru dan equipment aligned with the latest network plan and goodwill (lihat Catatan 38) dan memperoleh aset certain intangible assets, such as brand and
membebankan biaya penyusutan tambahan sebesar charged additional depreciation expense of takberwujud tertentu berupa merk dan pelanggan customers (see Note 36a).
Rp 7.499 dan Rp 253.888 masing-masing untuk Rp 7,499 and Rp 253,888 for the years ended (lihat Catatan 36a).
tahun yang berakhir pada tanggal 31 Desember 31 December 2023 and 2022, respectively.
2023 dan 2022. Pada bulan Maret 2014, Perusahaan mengakuisisi In March 2014, the Company acquired AXIS. As a
AXIS. Atas transaksi ini, Perusahaan memperoleh result, the Company acquired goodwill (see Note
goodwill (lihat Catatan 38) dan aset takberwujud 38) and certain intangible assets, such as
tertentu berupa spektrum, merk dan pelanggan (lihat spectrum, brand and customers (see Note 36a).
Catatan 36a).
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
8. ASET TAKBERWUJUD (lanjutan) 8. INTANGIBLE ASSETS (continued) 9. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 9. INVESTMENT IN ASSOCIATES (continued)
Grup membayar Biaya Ijin Penggunaan Pita The Group paid the annual Spectrum Frequency PT Link Net Tbk dan entitas anak PT Link Net Tbk and subsidiaries
Spektrum Frekuensi Radio (IPSFR) tahunan dan Band usage fee and recorded as prepaid annual
dicatat sebagai beban frekuensi tahunan dibayar frequency fee (see Note 5). The Group has tested Nilai wajar kepemilikan saham Grup pada PT Link The fair value of the Group’s interest in PT Link Net
dimuka (lihat Catatan 5). Grup telah melakukan impairment on spectrum (see Note 38). Net Tbk dan entitas anak adalah Rp 729.169 Tbk and its subsidiaries was Rp 729,169 based on
pengujian penurunan nilai untuk spektrum (lihat berdasarkan harga saham pada 31 Desember 2023. share price as at 31 December 2023. The Group
Catatan 38). Grup menilai dan melakukan pengujian penurunan assessed and perform impairment testing for
nilai atas investasi pada PT Link Net Tbk dan entitas investment in PT Link Net Tbk and subsidiaries.
anak.
9. INVESTASI PADA ENTITAS ASOSIASI 9. INVESTMENT IN ASSOCIATES
Penurunan nilai diakui jika nilai tercatat aset An impairment loss is recognised at the amount by
Pada tanggal 22 Juni 2022, Perusahaan As at 22 June 2022, the Company acquired 20% of melebihi nilai terpulihkannya. Nilai terpulihkan which the asset’s carrying amount exceeds its
mengakuisisi 20% kepemilikan di PT Link Net Tbk the ownership in PT Link Net Tbk and its merupakan jumlah yang lebih tinggi antara nilai recoverable amount. The recoverable amount is
dan entitas anak (lihat Catatan 32). PT Link Net Tbk subsidiaries (see Note 32). PT Link Net Tbk is a wajar investasi dikurangi biaya untuk menjual [fair the higher of the investment’s fair value less cost of
merupakan perusahaan yang dapat memberikan company that provides the Group the access to value less costs of disposal (“FVLCOD”)] dan nilai disposal (“FVLCOD”) and its value in use. The
Grup akses terhadap perluasan pasar konsumen expand the Group’s customer market. pakai investasi. Nilai terpulihkan ditentukan recoverable amount was determined based on
Grup. berdasarkan perhitungan FVLCOD yang FVLCOD, which is based on income approach, that
berdasarkan pada pendekatan penghasilan, is determined using ten-years discounted cash flow
Pada tanggal 31 Desember 2023 dan 2022 As at 31 December 2023 and 2022 the summary of menggunakan metode Discounted Cash Flow model. Certain key assumptions used in the
ringkasan dari entitas asosiasi Grup adalah sebagai associates of the Group were as follows: sepuluh tahun. Asumsi-asumsi kunci yang FVLCOD calculation at 31 December 2023 are as
berikut: digunakan dalam perhitungan FVLCOD pada follows:
tanggal 31 Desember 2023 adalah sebagai berikut:
Nilai tercatat/Carrying value Tingkat diskonto – Grup telah memilih untuk Discount rate – The Group has chosen to use the
2023 2022 menggunakan weighted average cost of capital weighted average cost of capital (“WACC”) as the
(“WACC”) sebagai tingkat diskonto untuk arus kas discount rate for the discounted cash flow. The
PT Link Net Tbk dan entitas anak/and its subsidiaries 2,325,249 2,526,017 yang didiskontokan. WACC yang ditentukan WACC determined is 10.5%.
PT Princeton Digital Group Data Centres 208,487 224,201 adalah 10,5%.
Jumlah/Total 2,533,736 2,750,218 Tingkat pertumbuhan pendapatan tahunan – Tingkat Annual revenue growth rate – The annual revenue
pertumbuhan pendapatan tahunan untuk proyeksi growth rate for the ten-years budget projection of
anggaran sepuluh tahun atas pendapatan unit the business unit’s revenue based on market
Persentase kepemilikan/ usaha yang ditentukan berdasarkan proyeksi analis analyst forecast is between 7.2% and 20.5%.
Domisili/ Kegiatan usaha/ Percentage of ownership pasar adalah antara 7,2% dan 20,5%.
Domicile Principal activity 2023 2022
Tingkat pertumbuhan jangka panjang – Tingkat Long-term growth rate – The long-term growth rate
PT Link Net Tbk dan entitas Indonesia Jasa jaringan tetap 20.00% 20.00% pertumbuhan jangka panjang yang ditentukan determined based on analysts’ forecast is 4.0%.
anak/and its subsidiaries berkabel dan akses
internet/Wired fixed
berdasarkan perkiraan analis adalah 4,0%.
network and internet
access services Berdasarkan pengujian penurunan nilai di atas, tidak Based on the impairment assessment above, no
ada penurunan nilai atas investasi pada PT Link Net impairment of the investment in PT Link Net Tbk
PT Princeton Digital Group Indonesia Jasa sewa rak server/ 10.71% 14.82% Tbk dan entitas anak yang diidentifikasi pada and subsidiaries was identified as at
Data Centres* Rack server rental tanggal 31 Desember 2023. 31 December 2023.
services
Kenaikan tingkat diskonto sebesar 1% dan/atau The increase in discount rate by 1% and/or the
*) Grup memiliki pengaruh signifikan terhadap kepemilikan di entitas terkait *) The Group has a significant influence over the ownership in the related
dikarenakan adanya transaksi material antara Grup dengan entitas terkait. entity due to material transactions between the Group and the related penurunan tingkat pertumbuhan jangka panjang decrease in long-term growth rate by 1% would
entity. sebesar 1% akan menghasilkan penurunan nilai result to a significant impairment loss charged
yang signifikan yang dibebankan selama tahun during the year.
berjalan.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
9. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 9. INVESTMENT IN ASSOCIATES (continued) 9. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 9. INVESTMENT IN ASSOCIATES (continued)
PT Link Net Tbk dan entitas anak (lanjutan) PT Link Net Tbk and subsidiaries (continued) PT Princeton Digital Group Data Centres PT Princeton Digital Group Data Centres
PT Princeton Digital Group Data Centres merupakan PT Princeton Digital Group Data Centres is a
Ringkasan informasi keuangan PT Link Net Tbk dan Summary of financial information of PT Link Net perusahaan tertutup di mana tidak terdapat harga private company for which there is no quoted
entitas anak pada tanggal 31 Desember 2023 dan Tbk and subsidiaries as at 31 December 2023 and pasar saham kuotasian yang tersedia. market share price available.
2022 adalah sebagai berikut: 2022 is as follows:
Pada tanggal 14 Juli 2023, PT Princeton Digital On 14 July 2023, PT Princeton Digital Group Data
2023 2022 Group Data Centres (”PDGDC”), entitas asosiasi Centres (“PDGDC”), an associate of the Group,
Grup, menerbitkan saham baru yang seluruhnya issued new shares which were wholly acquired by
Jumlah aset lancar 804,156 895,066 Total current assets diambil alih oleh Princeton Digital Group (Indonesia Princeton Digital Group (Indonesia Alpha) Pte. Ltd.
Jumlah aset tidak lancar 11,832,124 10,749,728 Total non-current assets Alpha) Pte. Ltd. (”PDG”). Sehingga kepemilikan (“PDG”). Therefore, the shares ownership of the
Jumlah liabilitas jangka pendek (3,289,120) (4,648,429) Total current liabilities saham Perusahaan atas PDGDC terdilusi menjadi Company of PDGDC has been diluted to 10.71%
Jumlah liabilitas jangka panjang (5,031,053) (2,028,326) Total non-current liabilities sebesar 10,71% dari yang sebelumnya sebesar from the previous 14.82%.
14,82%.
Jumlah aset bersih 4,316,107 4,968,039 Total net assets
Pada tanggal 4 Agustus 2022, PT Princeton Digital
On 4 August 2022, PT Princeton Digital Group
Group Data Centres (”PDGDC”), entitas asosiasi
% kepemilikan efektif 20% 20% % effective ownership Data Centres (“PDGDC”), an associate of the
Grup, menerbitkan saham baru yang seluruhnya
Group, issued new shares which were wholly
diambil alih oleh Princeton Digital Group (Indonesia
Bagian Grup atas The Group’s share of the acquired by Princeton Digital Group (Indonesia
Alpha) Pte. Ltd. (”PDG”). Sehingga kepemilikan
aset bersih investasi net assets of investment Alpha) Pte. Ltd. (“PDG”). Therefore, the shares
saham Perusahaan atas PDGDC terdilusi menjadi
pada entitas asosiasi 863,222 993,608 in associate ownership of the Company of PDGDC has been
sebesar 14,82% dari yang sebelumnya sebesar
Goodwill 1,323,772 1,323,772 Goodwill diluted to 14.82% from the previous 30%.
30%.
Kenaikan nilai wajar - bersih 138,255 208,637 Fair value uplift - net
Ringkasan informasi keuangan PDGDC pada A summary of the financial information of PDGDC
Nilai tercatat 2,325,249 2,526,017 Carrying value
tanggal 31 Desember 2023 dan 2022 adalah as at 31 December 2023 and 2022 is as follows:
sebagai berikut:
2023 2022
2023 2022
Laporan laba rugi dan Consolidated statement of
penghasilan komprehensif profit and loss and other Jumlah aset lancar 458,828 957,269 Total current assets
lain konsolidasian comprehensive income Jumlah aset tidak lancar 1,935,487 942,501 Total non-current assets
Pendapatan 3,925,581 2,261,146 Revenue Jumlah liabilitas jangka pendek 189,424 164,100 Total current liabilities
Beban operasional (4,005,541) (1,972,975) Operating expense Jumlah liabilitas jangka panjang 301,088 325,382 Total non-current liabilities
Beban-beban lain, termasuk Other expenses, including
beban keuangan - bersih (506,283) (157,278) finance cost - net Pada tanggal 31 Desember 2023, manajemen As at 31 December 2023, management believes
berkeyakinan bahwa tidak terdapat indikasi there is no indication of impairment for investment
(Rugi)/laba sebelum penurunan nilai untuk investasi pada PDGDC. in PDGDC.
pajak penghasilan (586,243) 130,893 (Loss)/profit before income tax Informasi di atas menunjukan jumlah yang disajikan The information above reflects the amounts
Manfaat/(beban) pajak penghasilan 53,262 (31,440) Income tax benefit/(expense) dalam laporan keuangan entitas asosiasi yang presented in the financial statements of the
disesuaikan untuk perbedaan kebijakan akuntansi associates which were adjusted for differences in
(Rugi)/laba tahun berjalan (532,981) 99,453 (Loss)/profit for the year antara Grup dan entitas asosiasi. accounting policies between the Group and the
Penghasilan komprehensif lain 5,998 2,741 Other comprehensive income associates.
(Rugi)/laba komprehensif lainnya Other comprehensive (loss)/profit 31/12/2023 31/12/2022
tahun berjalan, setelah pajak (526,983) 102,194 for the year, net of tax
Laporan laba rugi dan Statement of profit and loss and
* PT Link Net Tbk merupakan entitas asosiasi Perusahaan sejak * PT Link Net Tbk has become the Company’s associate since penghasilan komprehensif lain other comprehensive income
22 Juni 2022 (lihat Catatan 32) 22 June 2022 (see Note 32) . Pendapatan 276,332 249,315 Revenue
(Rugi)/laba sebelum
pajak penghasilan (32,691) 12,770 (Loss)/profit before income tax
Beban pajak penghasilan (27) (889) Income tax expense
(Rugi)/laba tahun berjalan (32,718) 11,881 (Loss)/profit for the year
Penghasilan/(beban)
komprehensif lain 2,188 (576) Other comprehensive income/(loss)
(Rugi)/laba komprehensif lainnya Other comprehensive (loss)/profit
tahun berjalan, setelah pajak (30,530) 11,305 for the year, net of tax
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
10. UTANG USAHA 10. TRADE PAYABLES 12. PENDAPATAN TANGGUHAN 12. DEFERRED REVENUE
2023 2022 2023 2022
Pihak ketiga: Third parties: Jasa telekomunikasi Cellular telecommunications
- Pembelian aset tetap dan Purchase of fixed assets and - selular 2,222,440 2,439,715 services
beban operasi 8,830,833 10,827,899 operational expenditure Keuntungan dari transaksi Gain from sale and
Interconnection and - penjualan dan sewa-balik 627,481 1,050,356 leaseback transaction
- Utang interkoneksi dan telecommunications Sewa menara 54,611 67,631 Leased towers
jasa telekomunikasi 306,707 236,193 service payable Sirkit langganan 12,153 13,947 Leased lines
9,137,540 11,064,092 Jumlah pendapatan tangguhan 2,916,685 3,571,649 Total deferred revenue
Pihak-pihak berelasi: Related parties: Bagian jangka pendek (2,704,845) (2,944,168) Current portion
- Pembelian aset tetap dan Purchase of fixed assets and -
beban operasi 214,215 217,096 operational expenditure Bagian jangka panjang 211,840 627,481 Non-current portion
Interconnection and -
- Utang interkoneksi dan telecommunications Lihat Catatan 7 dan 32 untuk keuntungan dari See Notes 7 and 32 for gain from sale and
jasa telekomunikasi 30,745 56,095 service payable transaksi penjualan dan sewa-balik. leaseback transaction.
244,960 273,191 Lihat Catatan 23 untuk informasi liabilitas kontrak. See Note 23 for contract liability information.
Jumlah utang usaha 9,382,500 11,337,283 Total trade payables
13. PINJAMAN JANGKA PANJANG 13. LONG-TERM LOANS
Utang usaha berdasarkan mata uang adalah Trade payables according to currency are as
sebagai berikut: follows: 2023 2022
2023 2022 PT Bank Permata Tbk (“Permata”) 1,650,000 1,990,000
PT Bank Negara Indonesia Tbk (“BNI”) 1,460,000 1,000,000
Rupiah 8,715,881 10,767,708 Rupiah PT Bank Central Asia Tbk (“BCA”) 1,200,000 1,800,000
Mata uang asing 666,619 569,575 Foreign currencies Bank of China (Hongkong) Limited (“BOC”) 1,030,000 610,000
PT Bank UOB Indonesia Tbk (“UOB Indonesia”) 640,000 1,000,000
Jumlah utang usaha 9,382,500 11,337,283 Total trade payables MUFG Bank, Ltd. (“MUFG”) - 1,000,000
Citibank, N.A., Indonesia (“Citibank”) - 300,000
Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information. Lain-lain/Other 48,352 55,818
pihak berelasi.
Jumlah/Total 6,028,352 7,755,818
11. BEBAN YANG MASIH HARUS DIBAYAR 11. ACCRUED EXPENSES Biaya perolehan pinjaman yang belum diamortisasi/
Unamortised debt issuance cost (3,452) (2,168)
2023 2022
6,024,900 7,753,650
Lisensi dan jasa Licence and Dikurangi: bagian lancar/Less: current portion (415,892) (5,342,445)
telekomunikasi 376,631 353,871 telecommunications services
Bunga 76,483 74,729 Interest Bagian jangka panjang/Non-current portion 5,609,008 2,411,205
Lain-lain 179,791 134,703 Other
Jumlah beban yang
masih harus dibayar 632,905 563,303 Total accrued expenses
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
13. PINJAMAN JANGKA PANJANG (lanjutan) 13. LONG-TERM LOANS (continued) 13. PINJAMAN JANGKA PANJANG (lanjutan) 13. LONG-TERM LOANS (continued)
Periode Periode
Nilai Nilai pembayaran Tanggal Nilai Nilai pembayaran Tanggal
Jumlah tercatat/ tercatat/ Jadwal bunga/ Tingkat bunga jatuh Jumlah tercatat/ tercatat/ Jadwal bunga/ Tingkat bunga jatuh
fasilitas/ Carrying Carrying pembayaran/ Interest per tahun/ tempo/ fasilitas/ Carrying Carrying pembayaran/ Interest per tahun/ tempo/
Total amount amount Payment payment Interest rate Maturity Total amount amount Payment payment Interest rate Maturity
facility 2023 2022 schedule period per annum date facility 2023 2022 schedule period per annum date
Permata
BNI
- Fasilitas tanggal/ Rp 1,000,000 Rp 1,000,000 - Pembayaran Bulanan atau JIBOR 1 atau 3 18 Juli/July
- Fasilitas tanggal/ Rp 1,460,000 Rp 1,460,000 Rp 1,000,000 Sebelum tanggal Bulanan atau JIBOR 1 atau 3 21 Juni/
Facility dated penuh pada Triwulan/ bulan + marjin 2026
Facility dated jatuh tempo Triwulan/ bulan + June
30 Agustus/ tanggal Monthly or 0,475%/
15 Juni/June fasilitas Monthly or marjin 0,5%/ 2027
August 2023 jatuh tempo Quarterly 1 or 3 months
2022 pinjaman Quarterly 1 or 3
fasilitas JIBOR +
uncommitted months
pinjaman 0,475% margin
revolving KMK JIBOR +
committed
di tahun 2027/ 0.5% margin
di tahun 2026/
Prior to
Bullet
uncommitted
repayment
KMK revolving
at committed
credit facility
credit facility
expiration
expiration
date in 2027
date in 2026
BCA
- Fasilitas tanggal/ Rp 1,000,000 Rp 650,000 - Cicilan setiap Bulanan atau JIBOR 1 atau 3 30 April 2029
Facility dated tahun sesuai Triwulan/ atau 6 bulan + - Fasilitas tanggal/ Rp 1,200,000 Rp 1,200,000 - Cicilan setiap Triwulanan/ Tiga tahun 10 April 2028
30 Agustus/ dengan pro- Monthly or marjin 1%/ Facility dated tahun sesuai Quarterly pertama: 7,5%,
August 2023 porsi yang Quarterly 1 or 3 or 6 10 April 2023 dengan tahun keempat
ditentukan months proporsi yang sampai dengan
(2025 – 2029)/ JIBOR ditentukan tahun kelima:
Installment 1% margin (2024 - 2028)/ JIBOR 3 bulan +
yearly on a Installment marjin 1,25%/
predeterminded yearly on a First three
basis (2025 - predeterminded years: 7.5%, 4th
2029) basis (2024 - to 5th year:
2028) 3 months JIBOR
- Fasilitas tanggal/ Rp 1,000,000 - Rp 1,000,000 Sebelum tanggal Bulanan atau JIBOR 1 atau 3 18 Juli/July + 1.25% margin
Facility dated jatuh tempo Triwulan/ atau 6 bulan + 2023
18 April 2022 fasilitas Monthly or marjin 0,8%/ - Fasilitas tanggal/ Rp 3,000,000 - Rp 1,800,000 Cicilan setiap Triwulanan/ JIBOR 3 bulan + 29 Januari/
pinjaman Quarterly 1 or 3 or 6 Facility dated tahun sesuai Quarterly marjin 1,25%/ January
uncommitted months 23 November dengan 3 months 2023
revolving di JIBOR 2017 proporsi yang JIBOR +
tahun 2023/ 0.8% margin ditentukan 1.25% margin
Prior to (2019 - 2023)/
uncommitted Installment
revolving yearly on a
credit facility predeterminded
expiration basis (2019 -
date in 2023 2023)
- Fasilitas tanggal/ Rp 1,500,000 - Rp 990,000 Cicilan setiap Triwulanan/ JIBOR 3 bulan + 25 Juni/June BOC
Facility dated tahun sesuai Quarterly marjin 1,5%/ 2026
25 September dengan pro- 3 months - Fasilitas tanggal/ Rp 500,000 Rp 500,000 - Cicilan setiap Triwulanan/ Tahun pertama 31 Maret/March
2020 porsi yang JIBOR + Facility dated tahun sesuai Quarterly 6,6%, tahun 2028
ditentukan 1.5% margin 30 Maret/ dengan pro- kedua sampai
(2020 – 2026)/ March 2023 porsi yang dengan tahun
Installment ditentukan kelima: JIBOR
yearly on a (2024 – 2028)/ 3 bulan + marjin
predeterminded Installment 0,8%/ 1st year:
basis (2020 - yearly on a 6.6%, 2nd to 5th
2026) predeterminded year: 3 months
basis (2024 - JIBOR + 0.8%
2028) margin
- Fasilitas tanggal/ Rp 800,000 Rp 530,000 Rp 610,000 Cicilan setiap Triwulanan/ JIBOR 3 bulan + 25 Oktober/
Facility dated tahun sesuai Quarterly marjin 1,2%/ October
15 Oktober/ dengan pro- 3 months 2024
October 2019 porsi yang JIBOR + dan/and
ditentukan 1.2% margin 15 April
(2020 – 2025)/ 2025
Installment
yearly on a
predeterminded
basis (2020 -
2025
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
13. PINJAMAN JANGKA PANJANG (lanjutan) 13. LONG-TERM LOANS (continued) 13. PINJAMAN JANGKA PANJANG (lanjutan) 13. LONG-TERM LOANS (continued)
Periode Pinjaman Perusahaan tidak memiliki aset yang The Company’s borrowings are non-secured or
Nilai Nilai pembayaran Tanggal dijaminkan atau tidak ada jaminan khusus. without any specific collateral.
Jumlah tercatat/ tercatat/ Jadwal bunga/ Tingkat bunga jatuh
fasilitas/ Carrying Carrying pembayaran/ Interest per tahun/ tempo/
Total amount amount Payment payment Interest rate Maturity Seluruh pinjaman yang diperoleh digunakan untuk Purpose of the borrowings is for working capital,
facility 2023 2022 schedule period per annum date pembiayaan modal kerja, belanja modal, capital expenditure, business development and
pengembangan bisnis dan tujuan umum. general purposes.
UOB Indonesia
Grup diharuskan untuk mematuhi beberapa The Group is required to comply with certain
- Fasilitas tanggal/ Rp 2,000,000 Rp 640,000 Rp 1,000,000 Sebelum tanggal Bulanan atau JIBOR 1 atau 3 8 Januari/
Facility dated jatuh tempo Triwulan/ atau 6 bulan January persyaratan, seperti pembatasan atas penjualan covenants, such as limitations on certain asset
8 Januari/ fasilitas Monthly or + marjin 2025 atau pengalihan aset, mempertahankan Axiata sales or transfers, maintaining the majority
January pinjaman Quarterly sampai
2021 uncommitted dengan
Group Berhad baik langsung maupun tidak langsung ownership of the Group's shares directly or
revolving di 1,5%/1 or 3 sebagai pemegang saham mayoritas dan indirectly by Axiata Group Berhad and maintaining
tahun 2025/ or 6 months mempertahankan rasio utang terhadap Pendapatan its debt to Earning before Interest Tax Depreciation
Prior to JIBOR +
uncommitted margin up to sebelum Bunga, Pajak, Depresiasi dan Amortisasi and Amortisation (“EBITDA”) ratio not to exceed
revolving 1.5% (“EBITDA”) tidak melebihi 4,5. Pada setiap tanggal 4.5. At each reporting date, the Group was in
credit facility
expiration in
pelaporan, Grup memenuhi seluruh persyaratan compliance with the covenants of its long-term
2025 pinjaman jangka panjang. loans.
MUFG
Jumlah pembayaran yang dilakukan untuk tahun The amount of payments made for the year ended
- Fasilitas tanggal/ Rp 1,000,000 - Rp 1,000,000 Sebelum tanggal Bulanan atau JIBOR 1 atau 3 9 Juni/ yang berakhir 31 Desember 2023 adalah sebesar 31 December 2023 was Rp 5,180,000 in relation to
Facility dated jatuh tempo Triwulan/ bulan + June 2024 Rp 5.180.000 untuk fasilitas kredit dari BCA, credit facilities obtained from BCA,
9 Juni/June fasilitas Monthly or marjin 0,75%/
2022 pinjaman Quarterly 1 or 3 UOB Indonesia, MUFG, Bank Permata, BOC dan UOB Indonesia, MUFG, Permata Bank, BOC and
uncommitted months Citibank (2022: Rp 4.740.000 dari BCA, UOB Citibank (2022: Rp 4,740,000 from BCA, UOB
revolving di JIBOR +
tahun 2024/ 0.75% margin
Indonesia, BOC dan Bank Permata). Indonesia, BOC and Permata Bank).
Prior to
uncommitted Pada tanggal 31 Desember 2023, Grup telah As at 31 December 2023, the Group has utilised
revolving
credit facility melakukan penarikan pinjaman sebesar loan facility of Rp 3,460,000 from BOC, BCA,
expiration Rp 3.460.000 dari BOC, BCA, Bank Permata dan Permata Bank and BNI; and has unutilised loan
date in 2024
BNI; dan memiliki sisa fasilitas pinjaman sebesar facilities of Rp 2,710,000 from UOB Indonesia,
Citibank Rp 2.710.000 dari UOB Indonesia, Bank Permata Permata Bank and MUFG. As at 31 December
dan MUFG. Pada tanggal 31 Desember 2022, Grup 2022, the Group has utilised loan facility of
- Fasilitas tanggal/ Rp 500,000 - Rp 300,000 Cicilan setiap Triwulanan/ JIBOR 3 bulan + 30 November
Facility dated tahun sesuai Quarterly marjin 1,25%/ 2023 telah melakukan penarikan pinjaman sebesar Rp 4,405,695 from UOB Indonesia, Permata Bank,
30 November dengan pro- 3 months Rp 4.405.695 dari UOB Indonesia, Bank Permata, MUFG, BNI and other banks; and has unutilised
2018 porsi yang JIBOR + MUFG, BNI dan bank lainnya; dan memiliki sisa loan facilities of Rp 1,000,000 from UOB Indonesia.
ditentukan 1.25% margin
(2019 – 2023)/ fasilitas pinjaman sebesar Rp 1.000.000 dari UOB
Installment Indonesia.
yearly on a
predeterminded
basis (2019 -
2023)
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
14. LIABILITAS SEWA 14. LEASE LIABILITIES 15. SUKUK IJARAH 15. SUKUK IJARAH
Pembayaran sewa minimum di masa mendatang, Future minimum lease payments together with the 2023 2022
serta nilai kini atas pembayaran minimum sewa present value of the minimum lease payments as
pembiayaan pada tanggal 31 Desember 2023 dan at 31 December 2023 and 2022 were as follows: Sukuk ijarah 2,369,000 2,518,000 Sukuk ijarah
2022 adalah sebagai berikut:
Biaya transaksi yang Unamortised
2023 2022 belum diamortisasi (6,613) (8,305) transaction costs
Liabilitas sewa bruto – Gross lease liabilities – 2,362,387 2,509,695
pembayaran sewa minimum minimum lease payments
- Tidak lebih dari 1 tahun 8,108,180 7,206,150 Not later than 1 year - Dikurangi: bagian lancar (397,965) (148,869) Less: current portion
- Lebih dari 1 tahun dan Later than 1 year and -
kurang dari 5 tahun 23,449,444 21,065,336 not later than 5 years Bagian tidak lancar 1,964,422 2,360,826 Non-current portion
- Lebih dari 5 tahun 12,964,990 11,178,861 Later than 5 years -
Pada tanggal 23 November 2015, Perusahaan On 23 November 2015, the Company received the
44,522,614 39,450,347 memperoleh pernyataan efektif dari Otoritas Jasa effective notification from Financial Service
Keuangan (“OJK”) melalui surat Authority (“OJK”) based on its letter
Beban keuangan di masa Future finance charges
No. S-558/D.04/2015 dalam rangka Penawaran No. S-558/D.04/2015 in conjunction with the Shelf
depan atas sewa (8,709,168) (7,600,489) on leases
Umum Berkelanjutan Sukuk Ijarah Berkelanjutan I Public Offering Shelf Sukuk Ijarah I XL Axiata
XL Axiata (“Sukuk Ijarah I”) Tahap I Tahun 2015 (“Sukuk Ijarah I”) Tranche I Year 2015 amounting
Nilai kini liabilitas sewa 35,813,446 31,849,858 Present value of lease liabilities
sebesar Rp 1.500.000, yang diterbitkan dalam to Rp 1,500,000, which was issued in series as
beberapa seri sebagai berikut: follows:
2023 2022
Nilai kini liabilitas sewa adalah The present value of lease Sukuk Ijarah I Tahap I: Sukuk Ijarah I Tranche I:
sebagai berikut: liabilities is as follows:
Imbalan tetap
- Tidak lebih dari 1 tahun 6,022,836 5,296,565 Not later than 1 year - Ijarah tahunan/
- Lebih dari 1 tahun dan Later than 1 year and - Nilai nominal/ Annual fixed Jatuh tempo/
kurang dari 5 tahun 18,423,957 16,560,348 not later than 5 years Nominal amount Ijarah return Maturity Status
- Lebih dari 5 tahun 11,366,653 9,992,945 Later than 5 years -
Seri Series
- Seri A Rp 494,000 Rp 43,225 12 Desember/December 2016 Telah lunas/Settled Series A -
35,813,446 31,849,858 - Seri B Rp 258,000 Rp 26,445 2 Desember/December 2018 Telah lunas/Settled Series B -
- Seri C Rp 323,000 Rp 33,915 2 Desember/December 2020 Telah lunas/Settled Series C -
Dikurangi: bagian lancar (6,022,836) (5,296,565) Less: current portion - Seri D Rp 425,000 Rp 46,750 2 Desember/December 2022 Telah lunas/Settled Series D -
Rp 1,500,000
Bagian jangka panjang 29,790,610 26,553,293 Non-current portion
Pada tanggal 28 April 2017, Perusahaan On 28 April 2017, the Company issued Sukuk
Sebagian dari transaksi jual dan sewa-balik yang A portion of the sales and leaseback transactions menerbitkan Sukuk Ijarah dengan nama Sukuk Ijarah namely Shelf Sukuk Ijarah I XL Axiata
dilakukan oleh Grup dengan STP dan Protelindo entered into by the Group with STP and Protelindo Ijarah Berkelanjutan I XL Axiata (“Sukuk Ijarah I”) (“Sukuk Ijarah I”) Tranche II Year 2017 amounting
sebagaimana diungkapkan pada Catatan 7, as disclosed in Note 7, met the finance lease Tahap II Tahun 2017 sebesar Rp 2.180.000, yang to Rp 2,180,000, which was issued in series as
memenuhi kriteria sewa pembiayaan sesuai dengan criteria in accordance with the applicable diterbitkan dalam beberapa seri sebagai berikut: follows:
standar akuntansi yang berlaku pada tahun tersebut, accounting standard in the respective year, Sukuk Ijarah I Tahap II: Sukuk Ijarah I Tranche II:
meskipun hak legalitas tempat spesifik dalam although the legal ownership of the specific tower
menara tersebut masih dimiliki oleh STP dan space rests with STP and Protelindo. Imbalan tetap
Protelindo. Ijarah tahunan/
Nilai nominal/ Annual fixed Jatuh tempo/
Nominal amount Ijarah return Maturity Status
Penambahan liabilitas sewa terjadi dari transaksi Additional lease liabilities are the result of new
baru yang telah memenuhi kriteria sewa sesuai transactions which met the lease criteria under the Seri Series
- Seri A Rp 1,040,000 Rp 75,400 8 Mei/May 2018 Telah lunas/Settled Series A -
dengan standar akuntansi yang berlaku. applicable accounting standard. - Seri B Rp 402,000 Rp 33,768 28 April 2020 Telah lunas/Settled Series B -
- Seri C Rp 142,000 Rp 12,425 28 April 2022 Telah lunas/Settled Series C -
Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information. - Seri D Rp 260,000 Rp 23,660 28 April 2024 Belum lunas/Outstanding Series D -
- Seri E Rp 336,000 Rp 31,584 28 April 2027 Belum lunas/Outstanding Series E -
pihak berelasi.
Rp 2,180,000
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
15. SUKUK IJARAH (lanjutan) 15. SUKUK IJARAH (continued) 15. SUKUK IJARAH (lanjutan) 15. SUKUK IJARAH (continued)
Pada tanggal 8 Oktober 2018, Perusahaan telah On 8 October 2018, the Company has received the Pembayaran imbalan tetap Sukuk Ijarah I (Tahap I Fixed return of Sukuk Ijarah I (Tranche I and II),
memperoleh pernyataan efektif dari OJK melalui effective notification from OJK based on its letter dan II), Sukuk Ijarah II (Tahap I dan II), dan Sukuk Sukuk Ijarah II (Tranche I and II), Sukuk Ijarah III
surat No. S-142/D.04/2018 dalam rangka No. S-142/D.04/2018 in conjunction with the Shelf Ijarah III (Tahap I) dibayarkan setiap triwulan (Tranche I) are paid on a quarterly basis with the
Penawaran Umum Berkelanjutan Sukuk Ijarah Sukuk Ijarah II XL Axiata (“Sukuk Ijarah II”) dengan pembayaran pertama pada tanggal first payment on 2 March 2016, 28 July 2017,
Berkelanjutan II XL Axiata (“Sukuk Ijarah II”) Tahap I Tranche I Year 2018 amounting to Rp 1,000,000, 2 Maret 2016, 28 Juli 2017, 16 Januari 2019, 16 January 2019, 8 May 2019 and
Tahun 2018 sebesar Rp 1.000.000, yang diterbitkan which was issued in series as follows: 8 Mei 2019 dan 1 Desember 2022 dan pembayaran 1 December 2022, respectively and the last
dalam beberapa seri sebagai berikut: terakhir akan dilakukan bersamaan dengan payment will be made simultaneously with the
pelunasan pokok masing-masing seri Sukuk Ijarah. payment of the principal of each series of the
Sukuk Ijarah II Tahap I: Sukuk Ijarah II Tranche I: Dalam perjanjian perwaliamanatan juga diatur Sukuk Ijarah. The trustee agreement provides
beberapa persyaratan yang harus dipatuhi oleh several covenants to be complied with by the
Imbalan tetap Grup, seperti pembatasan atas penjualan atau Group, among others, limitations on certain asset
Ijarah tahunan/ pengalihan aset, mempertahankan Axiata Group sales or transfers, maintaining the majority
Nilai nominal/ Annual fixed Jatuh tempo/
Nominal amount Ijarah return Maturity Status Berhad baik secara langsung maupun tidak ownership of the Group’s shares directly or
langsung sebagai pemegang saham mayoritas dan indirectly by Axiata Group Berhad and maintaining
Seri Series
- Seri A Rp 358,000 Rp 29,535 26 Oktober/October 2019 Telah lunas/Settled Series A - mempertahankan rasio utang terhadap EBITDA its debt to EBITDA ratio not to exceed 4.5. At each
- Seri B Rp 399,000 Rp 36,309 16 Oktober/October 2021 Telah lunas/Settled Series B - tidak melebihi 4,5. Pada setiap tanggal pelaporan, reporting date, the Group was in compliance with
- Seri C Rp 149,000 Rp 14,304 16 Oktober/October 2023 Telah lunas/Settled Series C - Grup memenuhi seluruh persyaratan Sukuk Ijarah. the covenants of its Sukuk Ijarah.
- Seri D Rp 34,000 Rp 3,434 16 Oktober/October 2025 Belum lunas/Outstanding Series D -
- Seri E Rp 60,000 Rp 6,180 16 Oktober/October 2028 Belum lunas/Outstanding Series E -
Berdasarkan laporan peringkat terakhir yang Based on the latest ratings report released by Fitch
Rp 1,000,000 dipublikasikan oleh Fitch Ratings pada bulan Ratings in July 2022, Sukuk Ijarah I, II, and Sukuk
Pada tanggal 8 Februari 2019, Perusahaan On 8 February 2019, the Company issued Sukuk Juli 2022, Sukuk Ijarah I, II, dan penerbitan Sukuk Ijarah III issuance were rated AAA(idn) (Triple A).
menerbitkan Sukuk Ijarah dengan nama Sukuk Ijarah namely Shelf Sukuk Ijarah II XL Axiata Ijarah III mendapat peringkat AAA(idn) (Triple A).
Ijarah Berkelanjutan II XL Axiata (“Sukuk Ijarah II”) (“Sukuk Ijarah II”) Tranche II Year 2019 amounting
Sukuk ijarah ini tidak dijamin dengan agunan Sukuk ijarah is not secured by specific collateral.
Tahap II Tahun 2019 sebesar Rp 640.000, yang to Rp 640,000, which was issued in series as
khusus.
diterbitkan dalam beberapa seri sebagai berikut: follows:
Obyek ijarah yang mendasari penerbitan Sukuk Ijarah objects that underlie the issuance of Sukuk
Sukuk Ijarah II Tahap II: Sukuk Ijarah II Tranche II: Ijarah adalah hak manfaat atas aset peralatan Ijarah are the relevant beneficial interest of certain
Imbalan tetap telekomunikasi tertentu yang dimiliki oleh Grup. telecommunication equipment owned by the
Ijarah tahunan/ Group.
Nilai nominal/ Annual fixed Jatuh tempo/
Nominal amount Ijarah return Maturity Status Sukuk Ijarah I (Tahap I dan II), Sukuk Ijarah II Sukuk Ijarah I (Tranche I and II), Sukuk Ijarah II
Seri Series (Tahap I dan II), dan Sukuk Ijarah III (Tahap I) (Tranche I and II), and Sukuk Ijarah III (Tranche I)
- Seri A Rp 351,000 Rp 27,729 18 Februari/February 2020 Telah lunas/Settled Series A - diterbitkan dengan tujuan untuk mendanai were issued for the purpose of working capital and
- Seri B Rp 110,000 Rp 9,515 8 Februari/February 2022 Telah lunas/Settled Series B - kebutuhan modal kerja dan belanja modal, dan telah capital expenditure, and have been registered on
- Seri C Rp 138,000 Rp 12,765 8 Februari/February 2024 Belum lunas/Outstanding Series C -
- Seri D Rp 15,000 Rp 1,455 8 Februari/February 2026 Belum lunas/Outstanding Series D -
dicatatkan di Bursa Efek Indonesia dengan wali the Indonesia Stock Exchange with PT Bank Mega
- Seri E Rp 26,000 Rp 2,600 8 Februari/February 2029 Belum lunas/Outstanding Series E - amanat PT Bank Mega Tbk masing-masing pada Tbk as a trustee on 3 December 2015,
Rp 640,000
tanggal 3 Desember 2015, 2 Mei 2017, 2 May 2017, 17 October 2018, 11 February 2019
17 Oktober 2018, 11 Februari 2019 dan and 2 September 2022, respectively.
Pada tanggal 1 September 2022, Perusahaan On 1 September 2022, the Company issued Sukuk 2 September 2022.
menerbitkan Sukuk Ijarah dengan nama Sukuk Ijarah namely Shelf Sukuk Ijarah III XL Axiata
Ijarah Berkelanjutan III XL Axiata (“Sukuk Ijarah III”) (“Sukuk Ijarah III”) Tranche I Year 2022 amounting
Tahap III Tahun 2022 sebesar Rp 1.500.000, yang to Rp 1,500,000, which was issued in series as 16. UTANG OBLIGASI 16. BONDS PAYABLE
diterbitkan dalam beberapa seri sebagai berikut: follows:
2023 2022
Sukuk Ijarah III Tahap I: Sukuk Ijarah III Tranche I:
Utang obligasi 1,724,000 1,855,000 Bonds payable
Imbalan tetap
Ijarah tahunan/ Biaya transaksi Unamortised
Nilai nominal/ Annual fixed Jatuh tempo/ yang belum diamortisasi (6,699) (8,430) transaction costs
Nominal amount Ijarah return Maturity Status
Seri Series 1,717,301 1,846,570
- Seri A Rp 680,915 Rp 45,962 1 September 2025 Belum lunas/Outstanding Series A -
- Seri B Rp 421,300 Rp 31,176 1 September 2027 Belum lunas/Outstanding Series B -
- Seri C Rp 135,135 Rp 10,676 1 September 2029 Belum lunas/Outstanding Series C -
Dikurangi: bagian lancar (39,997) (130,879) Less: current portion
- Seri D Rp 262,650 Rp 21,669 1 September 2032 Belum lunas/Outstanding Series D -
Bagian jangka panjang 1,677,304 1,715,691 Non-current portion
Rp 1,500,000
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
16. UTANG OBLIGASI (lanjutan) 16. BONDS PAYABLE (continued) 16. UTANG OBLIGASI (lanjutan) 16. BONDS PAYABLE (continued)
Pada tanggal 8 Oktober 2018, Perusahaan On 8 October 2018, the Company received the Pembayaran bunga Obligasi I Tahap I dan II dan Interest payments of Bond I Tranche I and II and
memperoleh pernyataan efektif dari OJK melalui effective notification from OJK based on its letter Obligasi II Tahap I dibayarkan setiap triwulan Bond II Tranche I are paid on a quarterly basis with
surat No. S-142/D.04/2018 dalam rangka no. S-142/D.04/2018 in conjunction with the Shelf dengan pembayaran pertama masing-masing pada the first payment on 16 January 2019, 8 May 2019
Penawaran Umum Berkelanjutan Obligasi Public Offering Shelf Bond I XL Axiata (“Bond I”) tanggal 16 Januari 2019, 8 Mei 2019, dan and 1 December 2022, respectively and the last
Berkelanjutan I XL Axiata (“Obligasi I”) Tahap I Tranche I Year 2018 amounting to Rp 1,000,000, 1 Desember 2022 dan pembayaran terakhir akan payment will be made simultaneously with the
Tahun 2018 sebesar Rp 1.000.000, yang diterbitkan which was issued in series as follows: dilakukan bersamaan dengan pelunasan pokok payment of principal of each series of the Bond.
dalam beberapa seri sebagai berikut: masing-masing seri Obligasi. Dalam perjanjian The trustee agreement provides several covenants
perwaliamanatan juga diatur beberapa persyaratan to be complied with by the Group, among others,
Obligasi I Tahap I: Bond I Tranche I: yang harus dipatuhi oleh Grup, seperti pembatasan limitations on certain asset sales or transfers,
atas penjualan atau pengalihan aset, maintaining the majority ownership of the Group’s
Imbalan tetap mempertahankan Axiata Group Berhad baik secara shares directly or indirectly by Axiata Group Berhad
Ijarah tahunan/
Nilai nominal/ Annual fixed Jatuh tempo/
langsung maupun tidak langsung sebagai and maintaining its debt to EBITDA ratio not to
Nominal amount Ijarah return Maturity Status pemegang saham mayoritas dan mempertahankan exceed 4.5. As of 31 December 2023, the Group
rasio utang terhadap EBITDA tidak melebihi 4,5. Per was in compliance with the covenants of its Bonds.
Seri Series tanggal 31 Desember 2023, Grup memenuhi seluruh
- Seri A Rp 328,000 8.25% 26 Oktober/October 2019 Telah lunas/Settled Series A -
- Seri B Rp 450,000 9.10% 16 Oktober/October 2021 Telah lunas/Settled Series B - persyaratan Obligasi.
- Seri C Rp 131,000 9.60% 16 Oktober/October 2023 Telah lunas/Settled Series C -
- Seri D Rp 19,000 10.10% 16 Oktober/October 2025 Belum lunas/Outstanding Series D - Berdasarkan laporan peringkat terakhir yang Based on the latest rating report released by Fitch
- Seri E Rp 72,000 10.30% 16 Oktober/October 2028 Belum lunas/Outstanding Series E -
dipublikasikan oleh Fitch Ratings pada bulan Ratings in July 2022, Bond I and Bond II issuance
Rp 1,000,000 Juli 2022, Obligasi I dan penerbitan Obligasi II were rated AAA(idn) (Triple A).
mendapat peringkat AAA(idn) (Triple A).
Pada tanggal 8 Februari 2019, Perusahaan On 8 February 2019, the Company issued Bonds
menerbitkan Obligasi dengan nama Obligasi namely Shelf Bond I XL Axiata (“Bond I”) Tranche II Obligasi ini tidak dijamin dengan agunan khusus. The bond is not secured by specific collateral.
Berkelanjutan I XL Axiata (“Obligasi I”) Tahap II Year 2019 amounting to Rp 634,000, which were
Tahun 2019 sebesar Rp 634.000, yang diterbitkan issued in series as follows:
dalam beberapa seri sebagai berikut: 17. PROVISI DAN LIABILITAS IMBALAN KERJA 17. PROVISIONS AND LONG-TERM EMPLOYEE
JANGKA PANJANG BENEFIT LIABILITIES
Obligasi I Tahap II: Bond I Tranche II:
2023 2022
Imbalan tetap
Ijarah tahunan/
Nilai nominal/ Annual fixed Jatuh tempo/ Provisi Provisions
Nominal amount Ijarah return Maturity Status Penghentian sewa 35,258 48,620 Lease termination
Lain-lain 17,324 17,324 Other
Seri Series
- Seri A Rp 310,000 7.90% 18 Februari/February 2020 Telah lunas/Settled Series A -
- Seri B Rp 191,000 8.65% 8 Februari/February 2022 Telah lunas/Settled Series B - Bagian lancar 52,582 65,944 Current portion
- Seri C Rp 40,000 9.25% 8 Februari/February 2024 Belum lunas/Outstanding Series C -
- Seri D Rp 93,000 10.00% 8 Februari/February 2029 Belum lunas/Outstanding Series D - Estimasi liabilitas Estimated liabilities for
Rp 634,000 restorasi aset 915,449 745,819 assets restoration
Pada tanggal 1 September 2022, Perusahaan On 1 September 2022, the Company issued Bonds Bagian tidak lancar 915,449 745,819 Non-current portion
menerbitkan Obligasi dengan nama Obligasi namely Shelf Bond II XL Axiata (“Bond II”) Tranche
Berkelanjutan II XL Axiata (“Obligasi II”) Tahap I I Year 2022 amounting to Rp 1,500,000, which Liabilitas imbalan kerja Long-term employee
Tahun 2022 sebesar Rp 1.500.000, yang diterbitkan were issued in series as follows: jangka panjang benefit liabilities
dalam beberapa seri sebagai berikut:
Imbalan pasca kerja 222,847 183,030 Post-employment benefits
Obligasi II Tahap I: Bond II Tranche I: Imbalan jangka panjang lainnya 35,724 15,265 Other long-term benefits
Imbalan tetap
Ijarah tahunan/ Jumlah liabilitas imbalan kerja Total long-term employee
Nilai nominal/ Annual fixed Jatuh tempo/ jangka panjang 258,571 198,295 benefit liabilities
Nominal amount Ijarah return Maturity Status
Seri Series Dikurangi: Less:
- Seri A Rp 735,225 6.75% 1 September 2025 Belum lunas/Outstanding Series A - Bagian jangka pendek (18,712) (15,270) Current portion
- Seri B Rp 411,855 7.40% 1 September 2027 Belum lunas/Outstanding Series B -
- Seri C Rp 177,915 7.90% 1 September 2029 Belum lunas/Outstanding Series C -
- Seri D Rp 175,005 8.25% 1 September 2032 Belum lunas/Outstanding Series D - Jumlah 239,859 183,025 Total
Rp 1,500,000
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
17. PROVISI DAN LIABILITAS IMBALAN KERJA 17. PROVISIONS AND LONG-TERM EMPLOYEE 17. PROVISI DAN LIABILITAS IMBALAN KERJA 17. PROVISIONS AND LONG-TERM EMPLOYEE
JANGKA PANJANG (lanjutan) BENEFIT LIABILITIES (continued) JANGKA PANJANG (lanjutan) BENEFIT LIABILITIES (continued)
a. Estimasi liabilitas restorasi aset a. Estimated liabilities for assets restoration b. Imbalan pascakerja (lanjutan) b. Post-employment benefits (continued)
2023 2022 Mutasi nilai kini liabilitas adalah sebagai berikut: The movement of present value of obligation is
as follows:
Saldo awal 745,819 678,128 Beginning balance
Penambahan selama Addition during 2023 2022
tahun berjalan 188,363 49,804 the year
Beban bunga selama Interest expense during Saldo awal 183,030 236,348 Beginning balance
tahun berjalan 31,185 30,386 the year Biaya jasa kini 38,226 32,574 Current service cost
Dialihkan dari kelompok Transfer from disposal Biaya jasa lalu (13,051) (35,119) Past service cost
lepasan yang diklasifikasikan group classified as Biaya bunga 11,571 12,719 Interest cost
sebagai tersedia untuk dijual - 1,414 held for sale Akuisisi entitas anak - 8,885 Acquisition of subsidiary
Realisasi selama Realisation during Imbalan yang dibayar (3,179) (7,656) Benefits paid
tahun berjalan (49,918) (13,913) the year Pengukuran kembali: Remeasurement:
- Dampak perubahan Effects of changes in -
Saldo akhir 915,449 745,819 Ending balance asumsi keuangan 9,601 (38,131) financial assumptions
- Dampak penyesuaian Effects of experience -
b. Imbalan pascakerja b. Post-employment benefits pengalaman (3,351) (26,590) adjustments
Perubahan liabilitas imbalan pascakerja yang The movements of the provision for post- Saldo akhir 222,847 183,030 Ending balance
diakui di laporan posisi keuangan konsolidasian employment benefits recognised in the
adalah sebagai berikut: consolidated statements of financial position Sehubungan dengan imbalan pensiun, liabilitas In relation to the pension benefits, the
are as follows: telah memperhitungkan kontribusi Grup pada obligation has taken into account the
program pensiun iuran pasti (lihat Catatan 26). contribution made by the Group to the defined
2023 2022 Estimasi pembayaran untuk periode selanjutnya contribution pension plan (see Note 26). The
diperkirakan tidak berbeda secara material estimated contribution in the following period is
Saldo awal 183,030 236,348 Beginning balance dibandingkan dengan pembayaran aktual expected not to be materially different from the
Beban selama Expense made sebelumnya. historical actual contribution.
tahun berjalan 36,746 10,174 during the year
Akuisisi entitas anak - 8,885 Acquisition of subsidiary Estimasi liabilitas aktuarial pada tanggal Estimated actuarial obligations as at
Pembayaran selama Amounts paid 31 Desember 2023 dan 2022 didasarkan pada 31 December 2023 and 2022 were based on
tahun berjalan (3,179) (7,656) during the year penilaian aktuarial oleh aktuaris independen, the actuarial valuation prepared by an
Pengukuran kembali: Remeasurement: sebagaimana tertera dalam laporannya masing- independent actuary, as stated in its reports
- Dampak perubahan Effects of changes in - masing tertanggal 19 Januari 2024 dan dated 19 January 2024 and 20 January 2023,
asumsi keuangan 9,601 (38,131) financial assumptions 20 Januari 2023. respectively.
- Dampak penyesuaian Effects of experience -
pengalaman (3,351) (26,590) adjustments Imbalan pascakerja yang dibebankan pada The post-employment benefits expenses
laporan laba rugi konsolidasian adalah sebagai charged to the consolidated statements of
Saldo akhir 222,847 183,030 Ending balance berikut: profit or loss are as follows:
Liabilitas imbalan pascakerja yang diakui pada The provision for post-employment benefits 2023 2022
laporan posisi keuangan konsolidasian adalah recognised in the consolidated statements of
sebagai berikut: financial position is as follows: Biaya jasa kini 38,226 32,574 Current service costs
Biaya jasa lalu (13,051) (35,119) Past service costs
2023 2022 Biaya bunga 11,571 12,719 Interest expense
Nilai kini liabilitas 222,847 183,030 Present value of obligations Jumlah, tercakup dalam Total, included in
beban karyawan 36,746 10,174 employee costs
Liabilitas pada laporan Liability in the statement
posisi keuangan 222,847 183,030 of financial position
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
17. PROVISI DAN LIABILITAS IMBALAN KERJA 17. PROVISIONS AND LONG-TERM EMPLOYEE 17. PROVISI DAN LIABILITAS IMBALAN KERJA 17. PROVISIONS AND LONG-TERM EMPLOYEE
JANGKA PANJANG (lanjutan) BENEFIT LIABILITIES (continued) JANGKA PANJANG (lanjutan) BENEFIT LIABILITIES (continued)
b. Imbalan pascakerja (lanjutan) b. Post-employment benefits (continued) b. Imbalan pascakerja (lanjutan) b. Post-employment benefits (continued)
Liabilitas imbalan pensiun ditentukan dengan The pension benefit obligation was determined Perkiraan analisis jatuh tempo atas The expected maturity analysis of
menggunakan metode Projected Unit Credit using the Projected Unit Credit method with imbalan pensiun tidak terdiskonto pada undiscounted pension benefits as of
dengan asumsi sebagai berikut: the following ls: 31 Desember 2023 adalah sebagai berikut: 31 December 2023 is as follows:
2023 2022 Kurang dari Antara Antara Lebih dari
1 tahun/ 1-5 tahun/ 5-10 tahun/ 10 tahun/
Tingkat diskonto (per tahun) 6.70% 7.15% Discount rate (per annum) Less than Between Between Over Jumlah/
1 year 1-5 years 5-10 years 10 years Total
Tingkat kenaikan gaji Salary increment rate
(per tahun) 8.00% 8.00% (per annum) Imbalan pensiun 6,888 51,140 199,879 409,484 667,391 Pension benefits
Melalui program pensiun imbalan pasti, Grup Through its defined benefit pension plans, the c. Imbalan kerja jangka panjang lainnya c. Other long-term employee benefits
menghadapi sejumlah risiko signifikan sebagai Group is exposed to a number of significant
berikut: risks which are detailed below: 2023 2022
1) Perubahan imbal hasil obligasi 1) Changes in bonds yield Saldo awal 15,265 34,729 Beginning balance
Beban selama Expense made during
Penurunan pada imbal hasil obligasi A decrease in yield from high quality tahun berjalan 33,018 3,683 the year
pemerintah berperingkat tinggi government bonds will increase plan Imbalan yang dibayar (12,559) (23,147) Benefits paid
menyebabkan kenaikan liabilitas program, liabilities, although this will be partially
meskipun secara parsial akan saling hapus offset by an increase in the value of the Saldo akhir 35,724 15,265 Ending balance
dengan kenaikan nilai dari kepemilikan plans’ bond holdings.
obligasi program. Jumlah yang diakui pada laporan laba rugi The amounts recognised in the consolidated
konsolidasian adalah sebagai berikut: statements of profit or loss are as follows:
2) Tingkat kenaikan gaji 2) Salary growth rate
2023 2022
Liabilitas imbalan pensiun Grup The Group’s pension obligations are
berhubungan dengan tingkat kenaikan gaji, linked to the salary growth rate, and a Biaya jasa kini 37,288 8,786 Current service costs
dan semakin tinggi tingkat kenaikan gaji higher salary growth rate will lead to Pengukuran kembali: Remeasurement:
akan menyebabkan semakin besarnya higher liabilities. - Dampak perubahan Effects of changes in -
liabilitas. asumsi keuangan (4,270) (5,103) financial assumptions
Sensitivitas liabilitas imbalan pasti terhadap The sensitivity of the defined benefit obligation Jumlah, tercakup dalam Total, include in
perubahan asumsi utama tertimbang adalah to changes in the weighted principal beban karyawan 33,018 3,683 employee costs
sebagai berikut: assumptions is as follows:
d. Penghentian sewa d. Lease termination
Dampak terhadap liabilitas imbalan pasti/
Impact on defined benefits obligation
Provisi penghentian sewa berkaitan dengan Provision for lease termination is related to
Perubahan
penghentian sewa oleh AXIS (lihat AXIS’ terminated leases (see Note 36a).
asumsi/ Kenaikan asumsi/ Penurunan asumsi/
Catatan 36a).
Change in Increase in Decrease in
assumption assumption assumption
Tingkat diskonto 1% Turun sebesar/ Naik sebesar/ Discount rate
decrease by 14.88% increase by 17.05%
Tingkat kenaikan 1% Naik sebesar/ Turun sebesar/
gaji increase by 18.47% decrease by 16.33% Salary growth rate
Rata-rata durasi kewajiban imbalan pasti adalah The weighted average duration of the defined
9,7 tahun. benefit obligation is 9.7 years.
Page 216
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
18. MODAL SAHAM 18. SHARE CAPITAL 18. MODAL SAHAM (lanjutan) 18. SHARE CAPITAL (continued)
Modal dasar adalah 22.650.000.000 lembar saham The authorised share capital is 22,650,000,000 Pada tanggal 4 Mei 2016, Grup menerbitkan On 4 May 2016, the Group issued 2,137,592,085
dengan nilai nominal Rp 100 (nilai Rupiah penuh) shares, with a par value of Rp 100 (full amount 2.137.592.085 lembar saham melalui mekanisme shares through LPO II in respect of a rights issue
per lembar saham. Modal ditempatkan dan Rupiah) per share. Issued and fully paid share PUT II dengan HMETD yang tercantum dalam Akta with Pre-emptive Rights which is reflected in the
disetor penuh pada tanggal 31 Desember 2023 dan capital as at 31 December 2023 and Pernyataan Keputusan Rapat Perubahan Anggaran Deed of Restatement of Meeting on Amendment of
31 Desember 2022 adalah 13.128.430.665 lembar 31 December 2022 was 13,128,430,665 shares. Dasar No. 19 tanggal 14 September 2016 yang Articles of Association No. 19 dated 14 September
saham. dibuat di hadapan Aryanti Artisari, S.H., M.Kn., 2016 drawn up before Aryanti Artisari, S.H., M.Kn.,
Notaris di Jakarta Selatan, yang telah diberitahukan Notary in South Jakarta which has been notified to
Komposisi pemegang saham Grup pada tanggal The composition of the Group’s shareholders as at kepada dan mendapat laporan penerimaan and received a notification receipt from the MOLHR
31 Desember 2023 dan 2022 adalah sebagai 31 December 2023 and 2022 is as follows: pemberitahuan dari Menkumham berdasarkan based on Letter No.AHU-AH.01.03-0081170
berikut: Surat No.AHU-AH.01.03-0081170 tanggal dated 19 September 2016, which has
19 September 2016, didaftarkan pada Daftar Grup been registered in the Group Register
2023 2022 No.AHU-0109020.AH.01.11.Tahun 2016 tanggal No.AHU-0109020.AH.01.11.Tahun 2016 dated
Jumlah Jumlah
lembar lembar 19 September 2016. 19 September 2016.
saham/ Jumlah/ saham/ Jumlah/
Number Amount Number Amount
of shares (Rp) % of shares (Rp) % Pada tanggal 31 Maret 2020, Grup menerbitkan On 31 March 2020, the Group issued 18,052,107
Axiata Investments Axiata Investments 18.052.107 lembar saham tambahan sehubungan shares, being the Grant Date II of Long Term
(Indonesia) Sdn. Bhd. 8,697,163,762 869,716 66.25% 8,697,163,762 869,716 66.25% (Indonesia) Sdn. Bhd.
Dian Siswarini (Presiden Dian Siswarini dengan pelaksanaan periode II Program Insentif Incentive Programme, for the performance result of
Direktur) 11,764,622 1,176 0.09% 11,244,622 1,125 0.09% (President Director) Jangka Panjang atas kinerja tahun 2017-2019 yang the year 2017-2019, which is reflected in Deed
David Arcelus Oses David Arcelus Oses
(Direktur) 3,534,069 354 0.03% 3,409,069 341 0.02% (Director) tercantum dalam Akta No. 30 tanggal No. 30 dated 23 April 2020 drawn up before Aulia
Abhijit Jayant Navalekar Abhijit Jayant Navalekar 23 April 2020 yang dibuat di hadapan Aulia Taufani, Taufani, S.H., Notary in South Jakarta which has
(Direktur) 3,125,421 313 0.02% 3,826,021 383 0.03% (Director)
Yessie D. Yosetya Yessy D. Yosetya S.H., Notaris di Jakarta Selatan, yang telah been notified to and received a notification receipt
(Direktur) 2,188,845 219 0.02% 3,500,545 350 0.03% (Director) diberitahukan kepada dan mendapat laporan from the MOLHR based on Letter
I Gede Darmayusa I Gede Darmayusa
(Direktur) 454,924 45 0.00% 353,924 35 0.00% (Director) penerimaan pemberitahuan dari Menkumham No.AHU-AH.01.03-02066335 dated 30 April 2020,
Feiruz Ikhwan bin Abdul Feiruz Ikhwan bin Abdul berdasarkan Surat No.AHU-AH.01.03-02066335 which has been registered in the Group Register
Malek (Direktur) 222,134 22 0.00% - - - Malek (Director)
Publik (masing-masing Public (individually tanggal 30 April 2020, didaftarkan pada Daftar Grup No.AHU-0076237.AH.01.11.Tahun 2020 dated
dibawah 5%) 4,353,489,088 435,349 33.16% 4,352,444,922 435,244 33.15% less than 5%) No.AHU-0076237.AH.01.11.Tahun 2020 tanggal 30 April 2020.
Jumlah saham beredar 13,071,942,865 1,307,194 99.57% 13,071,942,865 1,307,194 99.57% Total shares outstanding 30 April 2020.
Saham treasuri 56,487,800 5,649 0.43% 56,487,800 5,649 0.43% Treasury shares
Pada tanggal 9 Maret 2021, Grup menerbitkan On 9 March 2021, the Group issued 18,662,246
Jumlah saham ditempatkan Number of shares issued 18.662.246 lembar saham tambahan sehubungan shares, being the Grant Date III of the Long Term
dan disetor penuh 13,128,430,665 1,312,843 100% 13,128,430,665 1,312,843 100% and fully paid
dengan pelaksanaan periode III Program Insentif Incentive Programme, for the performance result of
Pada tanggal 10 Maret 2016, Rapat Umum On 10 March 2016, the Extraordinary General Jangka Panjang atas kinerja tahun 2018-2020 yang the year 2018-2020 which is reflected on Deed
Pemegang Saham Luar Biasa menyetujui Meeting of Shareholders approved the issuance of tercantum dalam Akta No. 51 tanggal 30 Maret 2021 No. 51 dated 30 March 2021 drawn before Aulia
penerbitan Saham Insentif tanpa Hak Memesan Incentive Shares without Pre-emptive Rights in the yang dibuat di hadapan Aulia Taufani, S.H., Notaris Taufani, S.H., Notary in South Jakarta which has
Efek Terlebih Dahulu dalam rangka pelaksanaan framework of Grant Date VI of the Long Term di Jakarta Selatan, yang telah diberitahukan been notified to and received a notification
Tahap VI Program Insentif Jangka Panjang untuk Incentive Programme 2010 – 2015 (see Note 19). kepada dan mendapat laporan penerimaan receipt from the MOLHR based on Letter
tahun kinerja 2010 – 2015 (lihat Catatan 19). pemberitahuan dari Menkumham berdasarkan Surat No.AHU-AH.01.03-0218157 dated 6 April 2021,
No.AHU-AH.01.03-0218157 tanggal 6 April 2021, which has been registered in the Group Register
Pada tanggal 4 April 2016, Grup menerbitkan On 4 April 2016 the Group issued 8,986,668 didaftarkan pada Daftar Grup No.AHU-0063209.AH.01.11.Tahun 2021 dated
8.986.668 lembar saham sehubungan dengan shares, being the Grant Date VI of Long Term No.AHU-0063209.AH.01.11. Tahun 2021 tanggal 6 April 2021.
pelaksanaan periode VI Program Insentif Jangka Incentive Programme, for the performance result of 6 April 2021.
Panjang atas kinerja tahun sebelumnya, yang the preceding year, which is reflected in the Deed
tercantum dalam Akta Pernyataan Keputusan Rapat of Restatement of Meeting on Amendment of Pada tanggal 27 Oktober 2021, Axiata Investment On 27 October 2021, Axiata Investment
Perubahan Anggaran Dasar No. 73 tanggal Articles of Association No. 73 dated 24 May 2016 (Indonesia) Sdn. Bhd. telah selesai mengalihkan (Indonesia) Sdn. Bhd. has completed the transfer
24 Mei 2016 yang dibuat di hadapan Aryanti Artisari, drawn up before Aryanti Artisari, S.H., M.Kn., saham sebesar 533.409.349 lembar (setara dengan of 533,409,349 shares (equivalent to 4.97% of the
S.H., M.Kn., Notaris di Jakarta Selatan, yang telah Notary in South Jakarta which has been notified to 4,97% kepemilikan atas Grup) melalui penjualan Group’s ownership) through a sale to Ferrymount
diberitahukan kepada dan mendapat laporan and received a notification receipt from the MOLHR kepada Ferrymount Investments Limited. Investments Limited.
penerimaan pemberitahuan dari Menkumham based on Letter No.AHU-AH.01.03-0051578 dated
berdasarkan Surat No.AHU-AH.01.03-0051578 26 May 2016, which has been registered in the
tanggal 26 Mei 2016, didaftarkan pada Daftar Grup Group Register No.AHU-0064430.AH.01.11.Tahun
No.AHU-0064430.AH.01.11.Tahun 2016 tanggal 2016 dated 26 May 2016.
26 Mei 2016.
Page 217
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
18. MODAL SAHAM (lanjutan) 18. SHARE CAPITAL (continued) 19. TAMBAHAN MODAL DISETOR (lanjutan) 19. ADDITIONAL PAID-IN CAPITAL (continued)
Berdasarkan peraturan OJK No. 2/POJK.04/2013 Based on OJK's regulation No. 2/POJK.04/2013 Rincian tambahan modal disetor pada tanggal Details of the additional paid-in capital as at
dan surat edaran OJK No. 3/SEOJK.04/2020 and OJK's circular letter No. 3/SEOJK.04/2020 31 Desember 2023 adalah sebagai berikut: 31 December 2023 are as follows:
tentang pembelian kembali saham, Grup dapat related to shares buyback, the Group is allowed to Cadangan
membeli kembali paling banyak 20% dari modal buyback a maximum of 20% of its issued and paid- Sebelum Penawaran Penawaran Penawaran Penawaran kompensasi
penawaran umum umum umum umum berbasis saham/ Saham
disetor, dengan ketentuan bahwa paling sedikit up capital, provided that at least 7.5% of its issued umum/Prior perdana/ terbatas I/ terbatas II/ terbatas III/ Reserve for treasuri/
to public Initial public Limited public Limited public Limited public share-based Treasury Jumlah/
7,5% dari modal disetor tetap dimiliki oleh publik. and paid-up capital continues to be held by the offering offering offering I offering II offering III compensation shares Total
Pembelian kembali saham ini dapat dilakukan dalam public. This shares buyback can be performed up
Tambahan modal Additional paid-in
tiga bulan setelah tanggal Pengungkapan Fakta to three months from the date when the Group disetor - 2,712,250 2,694,200 6,519,656 4,759,437 312,402 - 16,997,945 capital
Material (”tanggal Keterbukaan Informasi”) ke OJK publishes its Disclosure on Material Information or Biaya penerbitan Share issuance
saham - (44,815) (48,988) (58,187) (61,256) (1,691) - (214,937) costs
pada 6 April 2020 (”periode pembelian kembali Facts ("Announcement Date") to OJK, dated Exchange rate
Perbedaan kurs difference due
saham). Grup telah melakukan pembelian kembali 6 April 2020 (”the buyback period"). The Group has dari modal to paid-in
56.487.800 lembar saham atau setara dengan executed the shares buyback for 56,487,800 yang disetor
Saham treasuri
11,730
-
12,519
-
(1,264)
-
-
-
-
-
-
-
-
108,503
22,985
108,503
capital
Treasury shares
0,53% dari jumlah saham yang ditempatkan dan shares or equal to 0.53% of the number of shares
Jumlah tambahan Total additional
disetor penuh dengan jumlah pembayaran sebesar issued and fully paid with a total payment of modal disetor 11,730 2,679,954 2,643,948 6,461,469 4,698,181 310,711 108,503 16,914,496 paid-in capital
Rp 134.445 dari tanggal Keterbukaan Informasi Rp 134,445 from the Announcement Date up to
sampai dengan 6 Juli 2020. 6 July 2020.
20. DIVIDEN 20. DIVIDENDS
Pada tanggal 6 Desember 2022, Grup menerbitkan On 6 December 2022, the Group issued
2.403.755.889 lembar saham dengan sehubungan 2,403,755,889 shares, being the execution of Rapat Umum Pemegang Saham pada tanggal The General Meeting of the Shareholders on
dengan pelaksanaan Penambahan Modal dengan Capital Increase by Providing Pre-emptive Rights 5 Mei 2023 telah menyetujui pembagian dividen kas 5 May 2023 approved the distribution of a cash
Memberikan Hak Memesan Efek Terlebih Dahulu III III (PMHMETD III), which is planned and reflected sebesar Rp 42 (nilai Rupiah penuh) per saham atau dividend of Rp 42 (full amount Rupiah) per share or
(PMHMETD III), sesuai yang direncanakan dan in the Deed of Minutes of Extraordinary General dengan jumlah keseluruhan sebesar Rp 549.023 totalling Rp 549,023 relating to the 2022 financial
tercantum dalam Akta Berita Acara Rapat Umum Meeting of Shareholders No. 16 dated untuk tahun buku 2022. Seluruh dividen telah year. The entire amount was fully paid in May
Pemegang Saham Luar Biasa No. 16 tanggal 16 August 2022 drawn up before Aulia Taufani, dibayarkan pada bulan Mei 2023. 2023.
16 Agustus 2022 yang dibuat di hadapan Aulia S.H., M.Kn., Notary in South Jakarta which has
Taufani, S.H., M.Kn., Notaris di Jakarta Selatan, been notified to and received a notification receipt Rapat Umum Pemegang Saham pada tanggal The General Meeting of the Shareholders on
yang telah diberitahukan kepada dan mendapat from the MOLHR based on Letter 22 April 2022 telah menyetujui pembagian dividen 22 April 2022 approved the distribution of a cash
laporan penerimaan pemberitahuan dari No.AHU-00081.AH.02.02 dated 16 August 2022. kas sebesar Rp 51 (nilai Rupiah penuh) per saham dividend of Rp 51 (full amount Rupiah) per share or
Menkumham berdasarkan Surat atau dengan jumlah keseluruhan sebesar totalling Rp 544,078 relating to the 2021 financial
No.AHU-00081.AH.02.02 tanggal 16 Agustus 2022. Rp 544.078 untuk tahun buku 2021. Seluruh dividen year. The entire amount was fully paid in May
telah dibayarkan pada bulan Mei 2022. 2022.
19. TAMBAHAN MODAL DISETOR 19. ADDITIONAL PAID-IN CAPITAL
21. SALDO LABA YANG TELAH DITENTUKAN 21. APPROPRIATED RETAINED EARNINGS
2023 2022 PENGGUNAANNYA
Tambahan modal disetor 16,997,945 16,997,945 Additional paid-in capital Berdasarkan Undang-Undang Perseroan Terbatas, Under Indonesian Company Law, the Group is
Saham treasuri 108,503 108,503 Treasury shares Grup diharuskan untuk membuat penyisihan required to set up a statutory reserve amounting up
Biaya penerbitan saham (214,937) (214,937) Share issuance cost cadangan wajib hingga sekurang-kurangnya 20% to at least 20% of the issued and paid-up capital.
Perbedaan kurs dari modal Exchange rate difference dari jumlah modal yang ditempatkan dan disetor
disetor 22,985 22,985 due to paid-in capital penuh.
Jumlah tambahan modal disetor 16,914,496 16,914,496 Total additional paid-in capital Rapat Umum Pemegang Saham Tahunan tanggal The Annual General Meeting of Shareholders
5 Mei 2023 telah menyetujui penambahan dated 5 May 2023, which was overseen approved
Melalui PMHMETD III pada bulan Desember 2022, Through the PMHMETD III in December 2022, the penyisihan cadangan wajib Grup masing-masing an increase in the Group’s statutory reserve
Grup menerima Rp 4.999.812.249.120 (nilai Rupiah Group received Rp 4,999,812,249,120 (full amount sebesar Rp 100 untuk tahun buku 2023. Saldo laba amounting to Rp 100 for 2023 financial year. The
penuh) untuk penerbitan 2.403.755.889 lembar Rupiah) for the issuance of 2,403,755,889 shares dicadangkan Grup pada tanggal 31 Desember 2023 balance of the appropriated retained earnings of
saham dengan nilai nominal Rp 100 (nilai Rupiah with a nominal value amounting to Rp 100 (full dan 2022 masing-masing adalah sebesar Rp 1.300 the Group as at 31 December 2023 and 2022 was
penuh) per lembar saham. amount Rupiah) per share. dan Rp 1.200. Rp 1,300 and Rp 1,200, respectively.
Page 218
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
22. LABA BERSIH PER SAHAM DASAR DAN 22. BASIC AND DILUTED EARNINGS PER SHARE 23. PENDAPATAN (lanjutan) 23. REVENUES (continued)
DILUSIAN
2023 2022
2023 2022
GSM mobile and
Laba tahun berjalan 1,284,448 1,121,188 Profit for the year Jasa GSM mobile dan telecommunication
jaringan telekomunikasi network services
Rata-rata tertimbang jumlah lembar Weighted average number of Pendapatan dari kontrak Revenue from contract
saham biasa yang beredar 13,071,942,865 10,724,701,049 ordinary shares outstanding dengan pelanggan 31,807,993 28,896,188 with customers
Pendapatan lainnya: Revenue from other source:
Laba bersih per saham dasar dan Basic and diluted earnings per - Sewa operasi 13,648 34,070 Operating rental -
dilusian (nilai Rupiah penuh) 98 105 share (full amount Rupiah)
31,821,641 28,930,258
Pada setiap tanggal pelaporan, tidak ada efek As at each reporting date, there were no dilutive
berpotensi saham yang dapat menimbulkan potential ordinary shares that would give rise to a Managed service dan jasa Managed and information
pengaruh dilusi pada laba bersih per saham Grup. dilution of earnings per share of the Group. teknologi informasi technology services
Pendapatan dari kontrak Revenue from contract
dengan pelanggan 501,010 211,736 with customers
23. PENDAPATAN 23. REVENUES
501,010 211,736
2023 2022
32,322,651 29,141,994
Data dan layanan digital1 29,401,276 26,546,951 Data and digital services1
Percakapan dan SMS 1,004,943 1,049,370 Voice and SMS Waktu pengakuan pendapatan Timing of revenue
Jasa interkoneksi dan jasa Interconnection and other dari kontrak dengan recognition from contract
telekomunikasi lainnya2 1,429,933 1,364,947 telecommunication services2 pelanggan with customers
GSM mobile and
31,836,152 28,961,268 Jasa GSM mobile dan telecommunication
jaringan telekomunikasi network services
Dikurangi: Diskon pendapatan (14,511) (31,010) Less: Revenue discount - Pada suatu titik waktu 492,319 1,051,521 At a point in time -
- Pada suatu periode waktu 31,315,674 27,844,667 Over time -
31,821,641 28,930,258
31,807,993 28,896,188
Managed service dan jasa Managed and information
teknologi informasi technology services Managed service dan jasa Managed and information
Managed service 411,204 180,260 Managed service teknologi informasi technology services
Jasa teknologi informasi 89,806 31,476 Information technology service - Pada suatu periode waktu 501,010 211,736 Over time -
501,010 211,736 501,010 211,736
Jumlah pendapatan 32,322,651 29,141,994 Total revenue 32,309,003 29,107,924
1 Porsi pendapatan data dan layanan digital yang berasal dari 1. Portion of data and digital services revenue derived from 2023 2022
sistem teknologi informasi yang kompleks untuk tahun yang complex information technology systems for the year periods
berakhir pada tanggal 31 Desember 2023 dan 2022 masing- ended 31 December 2023 and 2022 amounting to
masing sebesar Rp 27.672.266 dan Rp 25.608.078. Rp 27,672,266 and Rp 25,608,078 respectively. Aset kontrak: Contract assets:
2. Termasuk pendapatan bundling perangkat untuk tahun yang 2. Including device bundling revenue for the periods ended 31 - Pihak ketiga 81,847 31,533 Third parties -
berakhir pada tanggal 31 Desember 2023 dan 2022 masing- December 2023 and 2022 amounting to Rp 83,831 and
masing sebesar Rp 83.831 dan Rp 443.644. Rp 443,644 respectively.
81,847 31,533
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
23. PENDAPATAN (lanjutan) 23. REVENUES (continued) 24. BEBAN INFRASTRUKTUR, PENJUALAN DAN 24. INFRASTRUCTURE, SALES AND MARKETING
PEMASARAN DAN UMUM DAN ADMINISTRASI AND GENERAL AND ADMINISTRATIVE
Mutasi dari aset kontrak adalah sebagai berikut: The movement of contract assets is as follows: EXPENSES
2023 2022 a. Beban infrastruktur a. Infrastructure expenses
Saldo awal 31,533 9,170 Beginning balance 2023 2022
Penambahan 349,452 190,927 Addition
Dialihkan ke piutang usaha (208,990) (149,390) Transfer to trade receivables Lisensi 4,026,019 3,999,338 License fee
Amortisasi sebagai beban Amortised as Sewa dan jasa 2,109,300 1,029,456 Rental and services
(Catatan 8) (90,148) (19,174) expense (Note 8) Utilitas 1,502,154 1,393,947 Utilities
Perbaikan dan pemeliharaan 1,358,173 1,311,206 Repair and maintenance
Saldo akhir 81,847 31,533 Ending balance
Jumlah beban Total infrastructure
2023 2022 infrastruktur 8,995,646 7,733,947 expense
Liabilitas kontrak*: Contract liabilities*: Lihat Catatan 29 untuk informasi mengenai See Note 29 for related parties information.
GSM mobile and pihak-pihak berelasi.
Jasa GSM mobile dan telecommunication
jaringan telekomunikasi network services b. Beban penjualan dan pemasaran b. Sales and marketing expenses
- Pihak ketiga 2,230,436 2,453,662 Third parties -
2023 2022
2,230,436 2,453,662
Komisi penjualan 1,914,867 2,067,160 Sales commission
Managed service dan jasa Managed and information Iklan dan promosi 448,290 470,571 Advertising and promotion
teknologi informasi technology services Jasa manajemen Customer relationship
- Pihak ketiga 4,156 15,846 Third parties - hubungan pelanggan 91,618 80,267 management services
4,156 15,846 Jumlah beban penjualan Total sales and
dan pemasaran 2,454,775 2,617,998 marketing expenses
2,234,592 2,469,508
c. Beban umum dan administrasi c. General and administrative expenses
* Disajikan sebagai bagian dari “Pendapatan tangguhan”. * Presented as part of “Deferred revenue”.
2023 2022
Mutasi dari liabilitas kontrak adalah sebagai berikut: The movement of contract liabilities is as follows:
Cadangan penurunan nilai Provision for impairment of
2023 2022 piutang usaha (Catatan 4) 103,951 45,245 trade receivables (Note 4)
Jasa profesional 98,387 89,596 Professional services
Saldo awal 2,469,508 2,387,075 Beginning balance Sewa 63,678 70,798 Rental
Pendapatan yang diakui dari Revenue recognised from the Lain-lain 147,024 147,059 Others
saldo liabilitas kontrak contract liabilities at the
pada awal tahun (2,442,586) (2,375,993) beginning of the year Jumlah beban umum Total general and
Kenaikan yang disebabkan Increase due to cash, excluding dan administrasi 413,040 352,698 administrative expenses
oleh kas, di luar yang diakui amounts recognised
sebagai pendapatan selama as revenue during Lihat Catatan 29 untuk informasi mengenai See Note 29 for related parties information.
tahun berjalan 2,207,670 2,458,426 the year pihak-pihak berelasi.
2,234,592 2,469,508
Kewajiban pelaksanaan tersisa yang belum dipenuhi The remaining unsatisfied performance obligation
akan dipenuhi antara tahun 2024 dan 2025. will be satisfied between 2024 and 2025.
Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information.
pihak berelasi.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
25. BEBAN INTERKONEKSI DAN BEBAN 25. INTERCONNECTION AND OTHER DIRECT 27. BIAYA KEUANGAN 27. FINANCE COSTS
LANGSUNG LAINNYA EXPENSES
2023 2022
2023 2022
Bunga atas pinjaman Interest on borrowings
Beban interkoneksi 633,594 497,586 Interconnection expense dan liabilitas sewa 2,898,754 2,740,729 and lease liabilities
Kewajiban pelayanan universal Universal service obligation Lain-lain 41,225 36,656 Others
dan biaya hak pengelolaan and concession fee of
jasa telekomunikasi 547,774 500,233 telecommunication services Jumlah biaya keuangan 2,939,979 2,777,385 Total finance costs
Sewa jaringan 528,862 250,479 Leased line
Paket perdana dan voucher 418,906 246,257 Starter pack and voucher Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information.
Value added services 408,200 626,054 Value added services pihak berelasi.
Biaya jasa manajemen atas Mobile advertising
periklanan mobile 290,400 - managed service fee
Pembelian perangkat bundling 156,322 642,758 Purchase of bundled devices 28. PERPAJAKAN 28. TAXATION
Lain-lain 188,162 113,110 Others
a. Pajak dibayar dimuka a. Prepaid taxes
Jumlah beban interkoneksi dan Total interconnection and
beban langsung lainnya 3,172,220 2,876,477 other direct expenses 2023 2022
Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information. Pajak penghasilan badan: Corporate income tax:
pihak berelasi. Perusahaan The Company
- 2022 52,122 52,122 2022 -
- 2021 - 8,903 2021 -
26. BEBAN GAJI DAN KESEJAHTERAAN 26. SALARIES AND EMPLOYEE BENEFITS - 2020 - 13,935 2020 -
KARYAWAN EXPENSES
52,122 74,960
2023 2022
Pajak lainnya: Other taxes:
Jumlah beban karyawan Total employee costs Perusahaan The Company
(termasuk karyawan alih daya): (including outsourcing): - Pajak Pertambahan Nilai Value added tax -
- Gaji dan tunjangan 1,328,078 1,254,551 Salaries and allowances - (”PPN”) – bersih 30,572 - (”VAT”) – net
- Penyisihan imbalan Provision for -
kerja 49,797 45,293 employee benefits Entitas Anak Subsidiary
- Pembayaran kepada Payment to defined - - Pajak Pertambahan Nilai Value added tax -
program pensiun iuran pasti 24,367 25,685 pension plan contribution (”PPN”) – bersih - 3,455 (”VAT”) – net
Beban gaji dan kesejahteraan Salaries and employee 30,572 3,455
karyawan (termasuk benefits expenses
karyawan alih daya) 1,402,242 1,325,529 (including outsourcing) 82,694 78,415
Jumlah karyawan (tidak diaudit) pada tanggal The number of employees (unaudited) as at b. Utang pajak b. Taxes payable
31 Desember 2023 dan 2022, masing-masing 31 December 2023 dan 2022 was 1,966 and 1,878
adalah 1.966 dan 1.878 orang. employees, respectively. 2023 2022
Lihat Catatan 29 untuk informasi mengenai pihak- See Note 29 for related parties information. Pajak penghasilan badan: Corporate income tax:
pihak berelasi. Perusahaan The Company
- Pasal 29 56,569 - Article 29 -
Entitas anak Subsidiary
- Pasal 29 1,251 4,135 Article 29 -
57,820 4,135
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
28. PERPAJAKAN (lanjutan) 28. TAXATION (continued) 28. PERPAJAKAN (lanjutan) 28. TAXATION (continued)
b. Utang pajak (lanjutan) b. Taxes payable (continued) c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
2023 2022 Rekonsiliasi antara beban pajak penghasilan The reconciliation between the Group’s
Grup dengan hasil perkalian laba akuntansi income tax expense and the applicable tax
Pajak lainnya: Other taxes: Grup sebelum pajak penghasilan dan tarif pajak rate on the Group’s profit before income tax for
Perusahaan The Company yang berlaku untuk tahun yang berakhir pada the year ended 31 December 2023 and 2022
- Pajak Pertambahan Nilai Value added tax - tanggal 31 Desember 2023 dan 2022 adalah is as follows:
(”PPN”) – bersih - 46,746 (”VAT”) – net sebagai berikut:
- Pajak penghasilan Pasal 21 40,055 38,409 Income tax Article 21 -
- Pajak penghasilan Pasal 23 83,960 63,397 Income tax Article 23 - 2023 2022
124,015 148,552 Laba sebelum
pajak penghasilan 1,704,517 1,353,030 Profit before income tax
Entitas anak Subsidiary
- Pajak Pertambahan Nilai Value added tax - Penyesuaian: Adjustment:
(”PPN”) – bersih 4,762 - (”VAT”) – net - Pajak final 40,894 66,913 Final tax -
- Pajak penghasilan Pasal 21 262 233 Income tax Article 21 - - Bagian atas rugi/(laba) bersih Share of loss/(profit) -
- Pajak penghasilan Pasal 23 328 804 Income tax Article 23 - dari entitas asosiasi 191,493 (3,838) from associate
5,352 1,037 Laba sebelum pajak
penghasilan setelah Profit before income
129,367 149,589 penyesuaian 1,936,904 1,416,105 tax after adjustment
c. Beban pajak penghasilan c. Income tax expense Beban pajak
dihitung pada tarif Tax expense calculated
2023 2022 pajak efektif (426,119) (311,543) at effective tax rates
Pendapatan kena Income subject
Perusahaan The Company pajak final - bersih 112,025 118,394 to final tax - net
Kini (243,287) (105,338) Current Beban yang tidak
Tangguhan Deferred dapat dikurangkan (17,558) (38,693) Non-deductible expenses
- Tahun berjalan (78,493) (120,504) For the year - Penyesuaian tahun sebelumnya (88,417) - Prior year adjustments
Penyesuaian tahun sebelumnya (88,417) - Prior year adjustments
Jumlah beban Total income tax
Beban pajak penghasilan (410,197) (225,842) Income tax expense pajak penghasilan (420,069) (231,842) expense
Entitas anak Subsidiary
Kini (10,966) (8,193) Current
Tangguhan Deferred
- Tahun berjalan 1,094 2,193 For the year -
Beban pajak penghasilan (9,872) (6,000) Income tax expense
Konsolidasian Consolidated
Kini (254,253) (113,531) Current
Tangguhan Deferred
- Tahun berjalan (77,399) (118,311) For the year -
Penyesuaian tahun sebelumnya (88,417) - Prior year adjustments
Beban pajak penghasilan (420,069) (231,842) Income tax expense
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
28. PERPAJAKAN (lanjutan) 28. TAXATION (continued) 28. PERPAJAKAN (lanjutan) 28. TAXATION (continued)
c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued) c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
2023 2022 Dalam laporan keuangan konsolidasian ini, In these consolidated financial statements, the
jumlah penghasilan kena pajak untuk tahun amount of taxable income for the year ended
Laba sebelum pajak yang berakhir pada 31 Desember 2023 dan 31 December 2023 and 2022 is based on
penghasilan setelah Profit before income
2022 didasarkan atas perhitungan sementara. preliminary calculations. These amounts may
penyesuaian 1,936,904 1,416,105 tax after adjustment
Jumlah tersebut mungkin berbeda dari laba differ from taxable income reported in the
Perbedaan temporer: Temporary differences: kena pajak yang dilaporkan dalam Surat corporate income tax returns.
- Selisih antara penyusutan Difference between accounting - Pemberitahuan Tahunan (“SPT”) pajak
dan amortisasi and tax depreciation penghasilan badan.
akuntansi dan pajak (146,611) (538,316) and amortisation
- Sewa (101,995) 587,332 Leasing - Jumlah laba kena pajak untuk tahun yang The amount of taxable income for the year
- Selisih antara laba Difference between accounting - berakhir pada 31 Desember 2022 menjadi ended 31 December 2022 is becoming the
pelepasan aset tetap and tax gain on
dasar pengisian SPT pajak penghasilan badan basis to fill in the corporate income tax return
akuntansi dan pajak (39,790) (63,489) disposal of assets
- Beban yang masih tahun 2022 yang telah disampaikan Grup for 2022 fiscal year which has been submitted
harus dibayar (4,214) (74,145) Accrued expenses - kepada Direktorat Jenderal Pajak (“DJP”) pada to Directorate General of Taxation (“DGT”) on
- Cadangan kerugian Provision for receivables - tanggal 20 Juni 2023. 20 June 2023.
penurunan nilai piutang (34,382) 33,555 impairment
- Provisi penghentian Provision for lease - d. (Liabilitas)/aset pajak tangguhan d. Deferred tax (liabilities)/assets
sewa (13,359) (61,966) termination
- Penyisihan imbalan Provision for employee - (Dibebankan)/ Dikreditkan
karyawan (11,464) (14,393) benefits dikreditkan pada laba
pada laporan komprehensif
(351,815) (131,422) laba rugi/ lainnya/
(Charged)/ Credited
credited to other
Perbedaan tetap: Permanent differences: to the profit comprehensive
- Beban yang tidak dapat Non-deductible - 2022 or loss income 2023
dikurangkan 79,809 175,871 expenses
- Pendapatan kena Income subject to - Perusahaan: The Company:
pajak final (509,203) (538,151) final tax Perbedaan nilai buku Difference between
aset tetap dan asset accounting and tax in net
(429,394) (362,280) takberwujud menurut book value of fixed assets
akuntansi dan pajak (1,571,664) (78,327) - (1,649,991) and intangible assets
Beban yang masih
Penghasilan kena pajak 1,155,695 922,403 Taxable income harus dibayar 61,764 (1,649) - 60,115 Accrued expenses
Estimasi liabilitas Estimated liabilities for
Akumulasi rugi pajak: Accumulated tax losses: restorasi asset 164,080 37,319 - 201,399 assets restoration
- 2018 - (406,353) 2018 - Aset hak guna (5,988,255) (817,511) - (6,805,766) Right-of-use assets
Liabilitas Sewa 6,606,528 795,072 - 7,401,600 Lease liabilities
Jumlah penghasilan kena Total taxable income Cadangan penurunan Provision for receivables
nilai piutang 65,202 (7,936) - 57,266 impairment
pajak setelah dikurangi after deducting Provisi penghentian Provision for lease
alokasi pajak 1,155,695 516,050 allocated tax loss sewa 10,696 (2,939) - 7,757 termination
Penyisihan beban gaji Provision for salaries and
Beban pajak kini (254,253) (113,531) Current tax expense dan imbalan kerja 121,076 (2,522) 1,375 119,929 employee benefits
Dikurangi: Less: Lain-lain* (2,028) - - (2,028) Others*
pajak penghasilan prepaid corporate
badan dimuka 196,433 161,518 income tax Jumlah liabilitias Total deferred
pajak tangguhan (532,601) (78,493) 1,375 (609,719) tax liabilities
(Kurang)/lebih bayar pajak (Underpayment)/overpayment of
penghasilan badan (57,820) 47,987 corporate income tax *)
Terdiri dari pajak tangguhan dari biaya yang terjadi untuk *) Represents deferred taxes from cost to obtain contract and
mendapatkan kontrak dan komponen pembiayaan. financing component.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
28. PERPAJAKAN (lanjutan) 28. TAXATION (continued) 28. PERPAJAKAN (lanjutan) 28. TAXATION (continued)
d. (Liabilitas)/aset pajak tangguhan (lanjutan) d. Deferred tax (liabilities)/assets (continued) d. (Liabilitas)/aset pajak tangguhan (lanjutan) d. Deferred tax (liabilities)/assets (continued)
Dikreditkan
Dikreditkan pada laporan laba rugi/
laporan laba rugi/ Credited to the
Credited to the 2021 profit or loss 2022
2022 profit or loss 2023
Entitas anak Subsidiary
Entitas anak Subsidiary Cadangan penurunan Provision for receivables
Cadangan penurunan Provision for receivables nilai piutang 1,631 711 2,342 impairment
nilai piutang 2,342 372 2,714 impairment Beban yang masih
Beban yang masih harus dibayar 1,955 1,482 3,437 Accrued expenses
harus dibayar 3,437 722 4,159 Accrued expenses
Jumlah aset Total deferred tax
pajak tangguhan 3,586 2,193 5,779 assets
Jumlah aset Total deferred tax
pajak tangguhan 5,779 1,094 6,873 assets
Dasar untuk mendukung pengakuan aset pajak The basis to support the recognition of the
tangguhan ditelaah secara berkala oleh deferred tax assets is reviewed regularly by
(Dibebankan)/ Dibebankan manajemen. management.
dikreditkan pada laba
pada laporan komprehensif e. Surat ketetapan pajak e. Tax assessments
laba rugi/ lainnya/
(Charged)/ Charged Akuisisi Untuk tahun yang berakhir 31 Desember 2023, For the year ended 31 December 2023, the
credited to other entitas anak/
to the profit comprehensive Acquisition of
Perusahaan menerima surat ketetapan pajak Company received tax assessment letters for
2021 or loss income a subsidiary 2022 untuk tahun fiskal 2021 dan 2020 yang 2021 and 2020 fiscal year which stated an
menyatakan masing-masing kurang bayar underpayment of Rp 5,352, as opposed to the
Perbedaan nilai sebesar Rp 5.352, berbeda dengan lebih bayar overpayment of Rp 8,903 previously claimed
buku aset tetap
dan aset Difference between sebesar Rp 8.903 yang diklaim sebelumnya dan and overpayment of Rp 13,935, respectively.
takberwujud accounting and tax lebih bayar sebesar Rp 13.935. Perusahaan The Company has paid the amount and
menurut in net book value telah melakukan pembayaran dan mengajukan submitted tax objection for 2021 fiscal year in
akuntansi of fixed assets and
dan pajak (1,365,346) (147,289) - (59,029) (1,571,664) intangible assets
keberatan untuk tahun fiskal 2021 pada bulan July 2023 and accepted and received the
Beban yang masih Juli 2023 serta menerima dan mendapatkan refund for 2020 fiscal year tax assessment
harus dibayar 79,558 (17,794) - - 61,764 Accrued expenses pengembalian pajak dari hasil ketetapan pajak result.
Estimasi liabilitas Estimated liabilities untuk tahun fiskal 2020.
restorasi aset 149,188 14,892 - - 164,080 assets restoration
Aset hak guna (4,779,366) (1,208,889) - - (5,988,255) Right-of-use assets
Liabilitas sewa 5,268,426 1,338,102 - - 6,606,528 Lease liabilities Perusahaan telah menerima putusan banding The Company received tax appeal results for
Cadangan Provision for atas tahun fiskal 2016 dan 2017. Untuk tahun the 2016 and 2017 fiscal years. For 2016 fiscal
penurunan receivables
nilai piutang 58,531 6,671 - - 65,202 impairment
fiskal 2016, Pengadilan Pajak mengabulkan year, the Tax Court partially granted the
Provisi sebagian permohonan banding sebesar appeal of Rp 6,114 for other taxes and
penghentian Provision for lease Rp 6.114 atas pajak lainnya dan sebesar Rp 35,431 for tax losses, which was lower
sewa 24,329 (13,633) - - 10,696 termination Rp 35.431 atas rugi fiskal, di mana jumlah ini than the amount and tax loss previously
Rugi pajak
yang belum Tax losses lebih rendah daripada jumlah yang diklaim claimed of Rp 13,443 and Rp 704,036,
dikompensasi 89,397 (89,397) - - - carried forward sebelumnya masing-masing sebesar Rp 13.443 respectively. The Company received the
dan Rp 704.036. Perusahaan telah menerima refund for 2016 fiscal year in January 2024.
Penyisihan beban Provision for
gaji dan imbalan salaries and
pengembalian pajak atas tahun fiskal 2016 For 2017 fiscal year, the Tax Court fully
kerja 138,482 (3,167) (14,239) - 121,076 employee benefits pada Januari 2024. Untuk tahun fiskal 2017, rejected the tax appeal and the Company has
Lain-lain* (2,028) - - - (2,028) Other* Pengadilan pajak menolak seluruh banding dan charged the rejected amount in the current
Perusahaan membebankan jumlah yang ditolak year profit or loss.
Jumlah liabilitas Total deferred
pajak tangguhan (338,829) (120,504) (14,239) (59,029) (532,601) tax liabilities pada laba rugi tahun berjalan.
*)
Terdiri dari pajak tangguhan dari biaya yang terjadi untuk *) Represents deferred taxes from cost to obtain contract and Untuk tahun yang berakhir 31 Desember 2022, For the year ended 31 December 2022, the
mendapatkan kontrak dan komponen pembiayaan. financing component. Perusahaan menerima putusan banding dari Company received tax appeal results from the
Pengadilan Pajak atas pajak pertambahan nilai tax court regarding value added taxes for the
tahun fiskal 2015. Pengadilan Pajak 2015 fiscal year. The tax court partially granted
mengabulkan sebagian permohonan banding the Company’s appeal of Rp 97,246, which
Perusahaan sebesar Rp 97.246 lebih rendah was lower than the amount filed previously in
daripada jumlah yang diajukan sebelumnya 2018 of Rp 105,869. The Company has
pada tahun 2018 sebesar Rp 105.869. received the claim refunds and charged the
Perusahaan telah menerima pengembalian atas portion that was not accepted by the tax court
klaim restitusi pajak dan membebankan porsi in the current year profit or loss.
yang tidak diterima oleh pengadilan pajak pada
laba rugi tahun berjalan.
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 5/86 - Page Halaman - 5/87 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
28. PERPAJAKAN (lanjutan) 28. TAXATION (continued) 29. INFORMASI MENGENAI PIHAK-PIHAK 29. RELATED PARTIES INFORMATION
BERELASI
e. Surat ketetapan pajak (lanjutan) e. Tax assessments (continued)
Transaksi-transaksi dengan pihak berelasi dilakukan The transactions with related parties are made
Perusahaan telah mengajukan keberatan, The Company has filed an objection, appeal dengan syarat dan kondisi yang sama dengan under the same terms and conditions as those
banding dan peninjauan kembali atas beberapa and judicial review for various tax assessment transaksi-transaksi dengan pihak ketiga. made with third parties.
surat ketetapan pajak kurang bayar untuk letters confirming underpayment for various
berbagai tahun pajak. fiscal years. a. Sifat transaksi dan hubungan dengan pihak- a. Nature of transactions and relationships
pihak berelasi with related parties
Pada tanggal 31 Desember 2023 dan As at 31 December 2023 and 2022 the amount
2022 jumlah ketetapan pajak yang masih dalam of assessments in the process of objection, Sifat transaksi dan hubungan dengan pihak- The natures of transactions and relationships
proses keberatan, banding dan peninjauan appeal and judicial review were as follows: pihak berelasi adalah sebagai berikut: with related parties are as follows:
kembali adalah sebagai berikut: Sifat hubungan dengan
dengan pihak-pihak berelasi/
2023 2022 Pihak-pihak berelasi/ Nature of the relationships Sifat transaksi/
Related parties with related parties Nature of transactions
Keberatan dan banding: Objection and appeal: Axiata Group Berhad Entitas induk utama/ Penggantian biaya-biaya dan jasa
Pajak penghasilan badan Corporate income tax Ultimate parent entity profesional/Reimbursement of
expenses and professional services
- 2021 8,903 - 2021 -
Axiata Investments Entitas induk langsung/ Penggantian biaya-biaya dan jasa
Pajak lainnya Other taxes (Indonesia) Sdn. Bhd. Immediate parent entity profesional/Reimbursement of
expenses and professional services
- 2017 - 2,819 2017 -
- 2016 - 13,443 2016 -
Dialog Axiata PLC. (Sri Lanka) Entitas sepengendali/ Pendapatan jelajah internasional,
Entity under common control langsung lainnya/International
Peninjauan kembali: Judicial review: and other direct expenses
Pajak lainnya Other taxes Smart Axiata Co., Ltd (Cambodia) Entitas sepengendali/ Pendapatan jelajah internasional dan
- 2007 19,223 19,223 2007 - (sebelumnya bernama/previously Entity under common control beban interkoneksi/International
- 2006 116,686 116,686 2006 - known as Hello Axiata Company roaming revenue and interconnection
Limited (Cambodia)) expenses
- 2005 87,993 87,993 2005 -
- 2004 102,582 102,582 2004 - Robi Axiata Limited (Bangladesh) Entitas sepengendali/ Pendapatan jelajah internasional dan
Entity under common control beban interkoneksi/International
335,387 342,746 roaming revenue and interconnection
expenses
Grup telah membayar dan mencatat jumlah The Group paid and recognised the tax Dewan Komisaris dan Direksi/ Manajemen kunci Grup/ Kompensasi dan remunerasi/
Board of Commissioners and Key management of the Group Compensation and remuneration
ketetapan pajak yang masih dalam proses assessments that are still in the process of
Directors
keberatan, banding dan peninjauan kembali objection, appeal and judicial review in the
PT Bank CIMB Niaga Tbk Entitas sepengendali/ Simpanan kas pada bank, deposito
tersebut pada laporan laba rugi konsolidasian di consolidated statements of profit or loss in Entity under common control berjangka dan pendapatan bunga/
masing-masing tahun di mana ketetapan pajak each year in which the tax assessments were Cash in banks, time deposits and
tersebut diterbitkan. issued. interest income
PT Axiata Digital Analytics Indonesia Entitas sepengendali/ Penggantian biaya-biaya, pendapatan
f. Administrasi f. Administration Entity under common control dan beban atas bisnis periklanan
Mobile/Reimbursement of expenses,
Mobile advertising business revenue
Berdasarkan peraturan perpajakan di Under the Indonesia Taxation Law, the Group
and expenses
Indonesia, Grup melaporkan pajaknya submits tax returns on the basis of self-
berdasarkan sistem self-assessment. assessment. Celcom Axiata Berhad* Entitas sepengendali/ Pendapatan ITKP, pendapatan jelajah
Entity under common control dan penggantian biaya-biaya/VoIP
Berdasarkan peraturan perpajakan yang Based on the applicable tax law, DGT may revenue, international roaming revenue
and reimbursement of expense
berlaku, DJP dapat menetapkan atau assess or amend tax liability within five years
mengubah liabilitas pajak dalam batas waktu of the time the tax becomes due. Axiata Management Service Sdn. Bhd. Entitas sepengendali/ Penggantian biaya-biaya dan jasa-jasa
lima tahun setelah saat terutangnya pajak. Entity under common control profesional/Reimbursement of
expenses and professional services
Apigate Sdn. Bhd. Entitas sepengendali/ Layanan payment gateway/Payment
Entity under common control gateway services
Axiata Business Services Sdn. Bhd. Entitas sepengendali/ Penggantian biaya-biaya dan jasa-jasa
Entity under common control profesional/Reimbursement of
expenses and professional services
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
29. INFORMASI MENGENAI PIHAK-PIHAK 29. RELATED PARTIES INFORMATION (continued) 29. INFORMASI MENGENAI PIHAK-PIHAK 29. RELATED PARTIES INFORMATION (continued)
BERELASI (lanjutan) BERELASI (lanjutan)
a. Sifat transaksi dan hubungan dengan pihak- a. Nature of transactions and relationships d. Piutang lain-lain d. Other receivables
pihak berelasi (lanjutan) with related parties (continued)
2023 2022
Sifat hubungan dengan
dengan pihak-pihak berelasi/
Pihak-pihak berelasi/ Nature of the relationships Sifat transaksi/ PT Axiata Digital Analytics PT Axiata Digital Analytics
Related parties with related parties Nature of transactions Indonesia 17,241 42,435 Indonesia
Axiata Group Berhad 15,056 15,324 Axiata Group Berhad
PT ADA Asia Indonesia Entitas sepengendali/ Penggantian biaya-biaya dan sewa ruang/ PT Edotco Infrastruktur PT Edotco Infrastruktur
Entity under common control Reimbursement of expenses and lease
of space
Indonesia - 22,497 Indonesia
Lain-lain* 631 468 Other*
PT Axiata Digital Labs Indonesia Entitas sepengendali/ Penggantian biaya-biaya dan
Entity under common control pembangunan sistem jaringan/ Jumlah piutang lain-lain Total other receivables -
Reimbursement of expenses and
network system development
bagian lancar 32,928 80,724 current portion
PT Princeton Digital Group Entitas asosiasi/Associate Penggantian biaya-biaya dan beban PT Edotco Infrastruktur PT Edotco Infrastruktur
Data Centres sewa rak server/Reimbursement of
expenses and rack server rental
Indonesia 208,537 201,652 Indonesia
expense
Jumlah piutang lain-lain Total other receivables -
Ncell Axiata Limited Entitas sepengendali/ Pendapatan jelajah internasional/ bagian tidak lancar 208,537 201,652 non-current portion
Entity under common control International roaming revenue
PT Edotco Infrastruktur Indonesia Entitas sepengendali/ Pendapatan penjualan dan sewa balik Jumlah piutang lain-lain 241,465 282,376 Total other receivables
Entity under common control menara dan sewa tanah/Sale and lease
tower and land lease
% terhadap jumlah aset 0.28% 0.32% % of total assets
PT Link Net Tbk Entitas sepengendali/ Jasa jaringan tetap berkabel dan akses
Entity under common control internet/Wired fixed network and *
Masing-masing kurang dari Rp 1.000 *
Individual amount less than Rp 1,000
Internet access services
* Bukan merupakan pihak berelasi sejak Januari 2023 Not a related party since January 2023 * e. Utang usaha e. Trade payables
b. Kas dan setara kas b. Cash and cash equivalents 2023 2022
Kas dan setara kas meliputi kas pada bank dan Cash and cash equivalents include cash in
deposito berjangka di PT Bank CIMB Niaga Tbk bank and time deposits in PT Bank CIMB Axiata Group Berhad 103,557 149,679 Axiata Group Berhad
dengan rincian saldo sebagai berikut: Niaga Tbk with details of balances as follows: PT Axiata Digital Labs PT Axiata Digital Labs
Indonesia 36,949 29,645 Indonesia
2023 2022 Axiata Investments Axiata Investment
(Indonesia) Sdn. Bhd. 29,106 2,635 (Indonesia) Sdn. Bhd.
Kas pada bank: Cash in bank: PT Princeton Digital Group PT Princeton Digital Group
- Rupiah 69,255 112,089 Rupiah - Data Centres 27,913 23,092 Data Centres
Deposito berjangka: Time deposits: Apigate Sdn. Bhd. 23,483 55,682 Apigate Sdn. Bhd.
- Rupiah - 70,000 Rupiah - Axiata Business Services Axiata Business Services
Sdn. Bhd. 16,690 12,045 Sdn. Bhd.
Jumlah kas dan setara kas 69,255 182,089 Total cash and cash equivalents Lain-lain* 7,262 413 Other*
% terhadap jumlah aset 0.08% 0.21% % of total assets
Jumlah utang usaha 244,960 273,191 Total trade payables
c. Piutang usaha c. Trade receivables
% terhadap jumlah liabilitas 0.40% 0.44% % of total liabilities
2023 2022
* *
Masing-masing kurang dari Rp 1.000 Individual amount less than Rp 1,000
PT Axiata Digital Analytics PT Axiata Digital Analytics
Indonesia 514,093 246,566 Indonesia
PT Link Net Tbk 1,549 - PT Link Net Tbk
Lain-lain* 39 46 Other*
Jumlah piutang usaha 515,681 246,612 Total trade receivables
% terhadap jumlah aset 0.59% 0.28% % of total assets
* *
Masing-masing kurang dari Rp 1.000 Individual amount less than Rp 1,000
Page 226
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
29. INFORMASI MENGENAI PIHAK-PIHAK 29. RELATED PARTIES INFORMATION (continued) 29. INFORMASI MENGENAI PIHAK-PIHAK 29. RELATED PARTIES INFORMATION (continued)
BERELASI (lanjutan) BERELASI (lanjutan)
f. Liabilitas sewa f. Lease liabilities i. Beban infrastruktur i. Infrastructure expenses
2023 2022 2023 2022
PT Edotco Infrastruktur PT Edotco Infrastruktur PT Princeton Digital Group PT Princeton Digital Group
Indonesia 543,524 602,629 Indonesia Data Centres 130,498 136,759 Data Centres
PT Princeton Digital Group PT Princeton Digital Group
Data Centres 362,153 397,217 Data Centres Jumlah beban infrastruktur 130,498 136,759 Total infrastructure expenses
PT Link Net Tbk 66,122 - PT Link Net Tbk
% terhadap beban infrastruktur 1.45% 1.77% % of infrastructure expenses
Jumlah liabilitas sewa 971,799 999,846 Total lease liabilities
j. Beban umum dan administrasi j. General and administrative expenses
% terhadap jumlah liabilitas 1.59% 1.63% % of total liabilities
2023 2022
g. Pendapatan g. Revenue
Axiata Investments Axiata Investment
2023 2022 (Indonesia) Sdn. Bhd. 29,106 - (Indonesia) Sdn. Bhd.
Axiata Group Berhad 848 36,975 Axiata Group Berhad
PT Axiata Digital Analytics PT Axiata Digital Analytics
Indonesia 367,197 558,671 Indonesia Jumlah beban umum Total general and
Apigate Sdn. Bhd. 24,390 44,223 Apigate Sdn. Bhd. dan administrasi 29,954 36,975 administrative expenses
Celcom Axiata Berhad* - 19,242 Celcom Axiata Berhad*
Lain-lain** 15 5 Other** % terhadap beban % of general and
umum dan administrasi 7.25% 10.48% administrative expenses
Jumlah pendapatan 391,602 622,141 Total revenue
k. Pendapatan bunga k. Interest income
% terhadap jumlah pendapatan 1.21% 2.13% % of total revenue
2023 2022
* Bukan merupakan pihak berelasi sejak Januari 2023 Not a related party since January 2023 *
** Masing-masing kurang dari Rp 1.000 Individual amount less than Rp 1,000 **
PT Bank CIMB Niaga Tbk 3,501 7,053 PT Bank CIMB Niaga Tbk
h. Beban interkoneksi dan beban langsung h. Interconnection and other direct expenses
Jumlah pendapatan bunga 3,501 7,053 Total interest income
lainnya
% terhadap penghasilan
2023 2022
keuangan 3.50% 6.31% % of finance income
PT Axiata Digital Analytics PT Axiata Digital Analytics l. Biaya bunga l. Interest expense
Indonesia 290,400 - Indonesia
Celcom Axiata Berhad** - 1,182 Celcom Axiata Berhad** 2023 2022
Lain-lain* - 37 Other*
PT Edotco Infrastruktur PT Edotco Infrastruktur
Jumlah beban interkoneksi Total interconnection and Indonesia 39,706 24,204 Indonesia
dan beban langsung lainnya 290,400 1,219 other direct expenses PT Princeton Digital Group PT Princeton Digital Group
Data Centres 28,977 31,453 Data Centres
% terhadap beban
interkoneksi dan % of interconnection and Jumlah biaya bunga 68,683 55,657 Total interest expense
beban langsung lainnya 9.15% 0.25% other direct expenses
* Masing-masing kurang dari Rp 1.000 Individual amount less than Rp 1,000 *
% terhadap biaya keuangan 2.34% 2.00% % of finance cost
** Bukan merupakan pihak berelasi sejak Januari 2023 Not a related party since January 2023 **
Page 227
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
29. INFORMASI MENGENAI PIHAK-PIHAK 29. RELATED PARTIES INFORMATION (continued) 30. PERIKATAN (lanjutan) 30. COMMITMENTS (continued)
BERELASI (lanjutan)
b. Transaksi sewa sebagai pesewa (lanjutan) b. Lease transactions as a lessor (continued)
m. Kompensasi manajemen kunci m. Key management compensation Jumlah penerimaan sewa di masa depan dalam The future aggregated lease income under
perjanjian sewa operasi yang tidak dapat non cancellable operating leases (excluding
Personil manajemen kunci Grup adalah Dewan Key management personnel of the Group are dibatalkan (tidak termasuk pembayaran di masa the future payment for the lease to be
Komisaris dan Direksi yang dirinci pada the Board of Commissioners and Directors as depan untuk sewa yang akan dihentikan) terminated) is as follows:
Catatan 1e. detailed in Note 1e. adalah sebagai berikut:
2023 2022 2023 2022
Dewan Dewan Dewan Dewan
Direksi/ Komisaris/ Direksi/ Komisaris/
Board of Board of Board of Board of Kurang dari 1 tahun 2,870 4,444 Not later than 1 year
Directors Commissioners Directors Commissioners Antara 1 tahun dan 2 tahun 2,458 3,478 Between 1 year and 2 years
Antara 2 tahun dan 3 tahun 1,774 2,726 Between 2 years and 3 years
Imbalan kerja jangka pendek/ Antara 3 tahun dan 4 tahun 1,221 2,187 Between 3 years and 4 years
Short-term employee benefits 101,462 20,206 97,152 16,070
Imbalan kerja jangka panjang/
Antara 4 tahun dan 5 tahun 1,105 1,804 Between 4 years and 5 years
Long-term employee benefits 37,425 - 8,445 - Lebih dari 5 tahun 3,301 5,302 More than 5 years
Jumlah/Total 138,887 20,206 105,597 16,070 12,729 19,941
% terhadap total beban karyawan/ Penerimaan sewa dari kontrak sewa operasi di Lease income from lease contracts under
% of total employee costs 9.90% 1.44% 7.97% 1.21% mana Grup adalah pesewa untuk tahun yang operating leases in which the Group acts as a
berakhir 31 Desember 2023 dan 2022 adalah lessor for the year ended 31 December 2023
masing-masing sebesar Rp 13.648 dan and 2022 amounted to Rp 13,648 and
30. PERIKATAN 30. COMMITMENTS Rp 34.070. Rp 34,070, respectively.
a. Belanja modal a. Capital expenditure Nilai buku aset tetap yang digunakan untuk The book value of fixed assets used both for
aktivitas operasional dan kontrak sewa operasi operating activities and lease contracts under
Pada tanggal 31 Desember 2023, Grup As at 31 December 2023, the Group had di mana Grup adalah pesewa adalah berikut: operating lease in which the Group act as a
memiliki komitmen atas sejumlah pembelian commitments related to various purchases for lessor is as follows:
untuk perluasan jaringan dengan nilai network expansions totalling USD 179,921,091
keseluruhan sebesar USD 179.921.091 atau or equivalent to Rp 2,773,664. 2023 2022
setara dengan Rp 2.773.664.
Harga perolehan: Cost:
Informasi terkait pihak-pihak dengan komitmen Information relating to the parties with Peralatan jaringan 14,867 12,205 Network equipment
atas pembelian belanja modal yang signifikan significant commitments regarding capital
dapat dilihat pada Catatan 32. expenditure can be seen in Note 32. Akumulasi penyusutan: Accumulated depreciation:
Peralatan jaringan (13,044) (10,392) Network equipment
b. Transaksi sewa sebagai pesewa b. Lease transactions as a lessor
1,823 1,813
Grup telah menyetujui untuk menyewakan The Group agreed to lease part of its c. Transaksi sewa sebagai penyewa c. Lease transactions as a lessee
sebagian dari menara telekomunikasi dan telecommunications towers and sites to the
lokasi di mana pihak-pihak berikut ini (lihat parties below (see Note 32) who are required Berikut ini adalah pihak-pihak yang The following are counterparties of the Group’s
Catatan 32) diwajibkan untuk membayar biaya to pay the lease and maintenance fees in mengadakan perjanjian sewa dengan Grup: lease commitments:
sewa dan pemeliharaan di muka yang dicatat advance which are recorded as part of
sebagai bagian dari pendapatan tangguhan: deferred revenue: Pihak dalam perjanjian/ Item yang disewa/ Periode perjanjian/
Counterparties Leased items Period of agreement
Pihak dalam perjanjian/ Item yang disewa/ Periode perjanjian/
PT Kuningan Nusajaya Gedung perkantoran/Office building 1 Oktober/October 2017 –
Counterparties Leased items Period of agreement
31 Desember/December 2030
PT Profesional Telekomunikasi
PT Princeton Digital Group Sewa rak server/Rack server rental 1 November 2019 –
Indonesia Tbk, PT Centratama
Menara Indonesia dan/and Data Centres 31 Oktober/October 2029
PT Edotco Infrastruktur
Protelindo, CMI, Tower Bersama, Sewa menara dan tanah/ Beragam/Various
Indonesia Sewa tanah/Land rental Beragam/Various
STP, Dayamitra, Solusindo Kreasi Tower and land rental
PT Indosat Tbk (dahulu/formerly Pratama dan lainnya/and others
PT Hutchison 3 Indonesia),
PT Dayamitra Telekomunikasi Moratel, IForte, PT Persada Sokka Sewa jaringan serat optik/ Beragam/Various
PT Sampoerna Tama, Alita, PT Mega Akses Fibre optic rental
Telekomunikasi Indonesia Persada, Era Bangun dan lainnya/
dan lainnya/and others Sewa menara/Tower rental Beragam/Various and others
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DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
30. PERIKATAN (lanjutan) 30. COMMITMENTS (continued) 30. PERIKATAN (lanjutan) 30. COMMITMENTS (continued)
c. Transaksi sewa sebagai penyewa (lanjutan) c. Lease transactions as a lessee (continued)
d. Perikatan biaya tahunan 3G d. 3G annual fees commitments
Laporan posisi keuangan konsolidasian pada The consolidated statements of financial
tanggal 31 Desember 2023 dan 2022 position as at 31 December 2023 and 2022 Grup mempunyai kewajiban untuk membayar The Group is obliged to pay annual fees within
menyajikan saldo-saldo berikut berkaitan show the following amounts related to leases: biaya tahunan selama sepuluh tahun selama ten years for as long as the Group holds the
dengan sewa: Grup memegang izin 3G berdasarkan 3G license set out in Regulation
Peraturan Menteri Komunikasi dan Informatika no. 07/PER/M.KOMINFO/2/2006 of the
2023 2022 No. 07/PER/M.KOMINFO/2/2006 dan Surat Minister of Communication and Information
Keputusan Menteri Komunikasi dan Informatika and Decree no.323/KEP/M.KOMINFO/09/2010
Aset hak guna: Right-of-use assets: No.323/KEP/M.KOMINFO/09/2010 (lihat of the Minister of Communication and
- Tanah 250,626 241,416 Land - Catatan 1d). Jumlah pembayaran setiap tahun Information (see Note 1d). The amount of the
- Bangunan 224,386 248,694 Buildings - adalah berdasarkan skema pembayaran yang annual payment is based on the scheme of
- Peralatan jaringan 30,460,289 26,729,232 Network equipment - diatur di dalam Peraturan Pemerintah No. 53 payment set out in Government Regulation
Tahun 2000 pasal 23 dan Peraturan No. 53 Year 2000 article 23 and Government
30,935,301 27,219,342
Pemerintah No. 80 Tahun 2015 pasal 9. Tidak Regulation No. 80 Year 2015 article 9. No
Liabilitas sewa: Lease liabilities: ada sanksi yang akan dikenakan jika Grup penalty will be imposed in the event of the
- Jangka pendek 6,022,836 5,296,565 Current - mengembalikan izin. Group returning the license.
- Jangka panjang 29,790,610 26,553,293 Non-current -
Sesuai surat keputusan Menteri Komunikasi In accordance with the decision letter of
35,813,446 31,849,858 dan Informatika No. 192 Tahun 2013 tanggal Minister of Communication and Information
5 Maret 2013, Grup memperoleh tambahan and Decree No. 192 Year 2013 dated
Penambahan aset hak guna selama tahun yang Additions to the right-of-use assets during the alokasi spektrum sebesar 5 MHz. 5 March 2013, the Group obtained an
berakhir pada 31 Desember 2023 dan year ended 31 December 2023 and 2022 additional spectrum allocation of 5 MHz.
2022 adalah sebesar Rp 8.736.638 dan amounted to Rp 8,736,638 and Rp 10,088,032
Rp 10.088.032.
31. TARIF JASA DAN JARINGAN TELEKOMUNIKASI 31. TELECOMMUNICATION SERVICE AND
Laporan laba rugi konsolidasian menyajikan The consolidated statements of profit or loss NETWORK TARIFFS
saldo berikut berkaitan dengan sewa: show the following amounts related to leases:
Berdasarkan UU No. 36/1999 dan Peraturan Under Law No. 36/1999 and Government
2023 2022
Pemerintah No. 52/2000, tarif jasa telekomunikasi Regulation No. 52/2000, tariffs for the use of
Penyusutan aset hak guna: Right-of-use assets: dan tarif jaringan telekomunikasi ditentukan oleh telecommunication services and network are
- Tanah 69,460 84,147 Land - penyelenggara berdasarkan kategori tarif, struktur, determined by providers based on the categories of
- Bangunan 69,499 40,435 Buildings - dan dengan mengacu pada formula tarif jasa tariffs, structures, and with respect to fixed line
- Peralatan jaringan 4,684,937 4,475,901 Network equipment - telekomunikasi tidak bergerak yang ditentukan oleh telecommunications services at a price formula set
Pemerintah. Kemudian peraturan ini digantikan by the Government. Furthermore, these regulations
4,823,896 4,600,483 dengan UU No. 6/2023 dan Peraturan Pemerintah were superseded by Law No. 6/2023 and
No. 46/2021 di mana menteri yang berwenang dapat Government Regulation No. 46/2021 where the
2023 2022 menetapkan tarif batas atas dan/atau tarif batas authorised minister is able to determine the upper
bawah. and/or lower tariff limits.
Beban bunga atas Interest expense
liabilitas sewa 2,167,028 1,762,639 on lease liabilities
a. Tarif jasa telekomunikasi a. Telecommunication services tariff
Beban berkaitan dengan Expenses relating to
sewa jangka pendek 53,564 8,823 short-term leases
Pada tanggal 7 April 2008, Menteri Komunikasi On 7 April 2008, the Minister of
Beban berkaitan dengan Expenses relating to
dan Informatika menerbitkan Peraturan Menteri Communication and Information issued
aset bernilai rendah 642 24 low value assets
No. 09/PER/M.KOMINFO/04/2008 tentang Minister Regulation No.
2,221,234 1,771,486 “Tata Cara Penetapan Tarif Jasa 09/PER/M.KOMINFO/04/2008 concerning
Telekomunikasi yang Disalurkan Melalui “The Procedures for Determination of Rate
Jumlah pengeluaran kas untuk sewa selama The total cash outflow for leases for the year Jaringan Bergerak Selular” yang kemudian (Tariff) of Telecommunication Services which
tahun yang berakhir pada tanggal ended 31 December 2023 and 2022 was diubah dengan Peraturan Menteri No. 5 Tahun are Connected Through Mobile Cellular
31 Desember 2023 dan 2022 masing-masing Rp 6,715,663 and Rp 5,925,660, respectively. 2021 tentang “Penyelenggaraan Network” which was later amended by Minister
sebesar Rp 6.715.663 dan Rp 5.925.660. Telekomunikasi” memberikan pedoman untuk Decree No. 5 Year 2021 concerning
menentukan tarif jasa telekomunikasi dengan “Telecommunications Operations” which
Jumlah komitmen sewa untuk sewa jangka Total lease commitments from short-term formula yang terdiri dari unsur biaya elemen provides guidelines to determine
pendek yang dicatat sebagai beban dengan leases recognised as expenses on a straight- jaringan dan biaya aktivitas layanan retail. telecommunication services tariffs with a
dasar garis lurus pada tanggal line basis as at 31 December 2023 and formula consisting of network element cost
31 Desember 2023 dan 2022 masing-masing 31 December 2022 are Rp 33,310 and and retail services activity cost.
sebesar Rp 33.310 dan Rp 16.452. Rp 16,452, respectively.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
31. TARIF JASA DAN JARINGAN TELEKOMUNIKASI 31. TELECOMMUNICATION SERVICE AND 31. TARIF JASA DAN JARINGAN TELEKOMUNIKASI 31. TELECOMMUNICATION SERVICE AND
(lanjutan) NETWORK TARIFFS (continued) (lanjutan) NETWORK TARIFFS (continued)
a. Tarif jasa telekomunikasi (lanjutan) a. Telecommunication services tariff b. Tarif interkoneksi (lanjutan) b. Interconnection tariff (continued)
(continued)
Efektif tanggal 1 Juni 2012, seluruh Effective on 1 June 2012, all
Tarif jasa telekomunikasi terdiri dari: The telecommunication services tariffs consist penyelenggara jaringan mengimplementasikan telecommunication operators implemented the
of the following: interkoneksi SMS berbasis biaya yang mengacu cost-based SMS interconnection with
- Tarif jasa teleponi dasar - Basic telephony services tariff kepada Surat Badan Regulasi Telekomunikasi reference to Letter from the Indonesian
- Tarif jasa nilai tambah teleponi - Value added telephony services tariff Indonesia No. 262/BRTI/XII/2011. Telecommunication Regulatory Authority
- Tarif jasa multimedia - Multimedia services tariff No. 262/BRTI/XII/2011.
Pada tanggal 30 Januari 2014, Pemerintah On 30 January 2014, the government
Dengan struktur tarif sebagai berikut: With the following tariff structure as follows:
telah menetapkan acuan biaya interkoneksi determined interconnection cost reference
- Tarif aktivasi; - Activation fee;
yang dinyatakan melalui Surat Kementerian through the Letter from Ministry of
- Tarif berlangganan bulanan; dan - Monthly charges; and
Komunikasi dan Informatika Republik Indonesia Communication and Information
- Tarif penggunaan - Usage charges
dan Direktorat Jenderal Sumber Daya dan Technology and Directorate General of
Perangkat Pos dan Informatika No. Resources and Equipment of
Tarif jasa multimedia berupa tarif jasa The tariff for multimedia services is in the form
118/KOMINFO/DJPPI/PI.02.04/01/2014 tentang Post and Information Technology
penyelenggaraan jasa multimedia berupa of tariffs for providing multimedia services,
Implementasi Biaya Interkoneksi tahun 2014. No. 118/KOMINFO/DJPPI/ PI.02.04/01/2014
termasuk namun tidak terbatas pada layanan including but not limited to internet services
Acuan ini berlaku sejak tanggal 1 Februari 2014 concerning Interconnection Implementation for
akses internet (ISP) dan layanan gerbang akses provider (ISP) and network access point
sampai dengan 31 Desember 2016 dan dapat 2014. This reference was effective from
internet (NAP). (NAP).
dievaluasi oleh Badan Regulasi Telekomunikasi 1 February 2014 up to 31 December 2016 and
Indonesia setiap tahunnya. can be evaluated by the Indonesian
b. Tarif interkoneksi b. Interconnection tariff
Telecommunication Regulatory Authority
annually.
Pada tanggal 28 Desember 2006, Grup dan On 28 December 2006, the Group and all
seluruh penyelenggara jaringan network operators signed amendments to their
c. Tarif sewa jaringan c. Leased line tariff
menandatangani amendemen atas perjanjian interconnection agreements for fixed line
kerja sama interkoneksi untuk jaringan tidak networks (local, long distance and
Berdasarkan Peraturan Menteri Komunikasi dan Based on the Minister of
bergerak (lokal, sambungan langsung jarak jauh international) and mobile networks for the
Informatika No. 03/PER/M.KOMINFO/1/2007 Communication and Information regulations
dan internasional) dan jaringan bergerak dalam implementation of the cost-based tariff
tanggal 26 Januari 2007 tentang Sewa Jaringan No. 03/PER/ M.KOMINFO/1/2007 date
rangka implementasi kewajiban tarif berbasis obligations under the Minister of
yang kemudian diubah dengan Peraturan 26 January 2007 concerning Lease Line which
biaya berdasarkan Peraturan Menteri Communication and Information Regulations
Menteri No. 5 Tahun 2021 tentang was later amended by Minister Decree No. 5
Komunikasi dan Informatika No. 08/PER/M.KOMINFO/02/2006 which was
Penyelenggaraan Telekomunikasi, Pemerintah Year 2021, the Government regulates the
No. 08/PER/M.KOMINFO/02/2006 yang later amended by Minister Decree No. 5 Year
mengatur bentuk, jenis, struktur tarif dan form, type, tariff structure and the formula for
kemudian diubah dengan Peraturan Menteri 2021 concerning “Telecommunications
formula tarif layanan untuk sewa jaringan. determination of lease line services tariff.
No. 5 Tahun 2021 tentang “Penyelenggaraan Operations”.
Telekomunikasi”.
d. Tarif jasa lainnya d. Other services tariff
Pemerintah telah menetapkan acuan biaya The government has determined
Tarif sewa menara, sewa internet teleponi, The tariffs for tower rental, internet telephony
interkoneksi pada tanggal 31 Desember 2010 interconnection cost reference as of
jelajah nasional dan jasa lainnya ditentukan services, national roaming and other services
yang dinyatakan melalui Surat Badan 31 December 2010 through the Letter from
oleh penyedia layanan dengan are determined by the service provider by
Regulasi Telekomunikasi Indonesia Indonesian Telecommunication Regulatory
memperhitungkan berbagai pengeluaran dan taking into account the expenditure and market
No. 227/BRTI/XII/2010 tentang Implementasi Authority No. 227/BRTI/XII/2010 concerning
harga pasar. Pemerintah hanya menetapkan price. The Government only determines the
Interkoneksi tahun 2011. Untuk layanan Interconnection Implementation for 2011. For
formula tarif untuk layanan teleponi dasar. Tidak tariff formula for basic telephony services.
telekomunikasi bergerak selular, acuan ini cellular mobile telecommunication services,
ada aturan untuk tarif atas jasa-jasa lainnya. There is no other ruling for other services.
berlaku sejak tanggal 1 Januari 2011, this reference was effective from
sedangkan untuk layanan fixed wireless access, 1 January 2011, while for fixed wireless
acuan ini berlaku sejak tanggal 1 Juli 2011. access service, this reference was effective
from 1 July 2011.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
32. PERJANJIAN PENTING 32. SIGNIFICANT AGREEMENTS 32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued)
Grup memiliki perjanjian pembelian, pemeliharaan The Group has existing purchases, maintenance Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant
dan instalasi dengan sejumlah pihak, sebagai and installation agreements with the following penting lain, di antaranya: agreements, such as:
berikut: parties:
Pihak-pihak dalam perjanjian/ Informasi penting/
Jumlah nota Counterparties Significant information
pembelian
Pihak-pihak dalam (12 bulan)/Total
dalam perjanjian/ Periode perjanjian/ Informasi penting/ purchase orders PT Telekomunikasi Indonesia Tbk, - Perjanjian interkoneksi tentang tarif, perhitungan hak dan kewajiban
Counterparties Period of agreement Significant information issued (12 months) PT Telekomunikasi Selular, dari kedua pihak, settlement, rekonsiliasi tagihan dan sanksi./
PT Huawei Tech 1 Januari 2008 sampai dengan nota pembelian Pemeliharaan berbagai Rp 4,408,895 PT Indosat Tbk, Interconnection agreements regarding tariffs, rights and obligations of
Investment (“HTI”) terakhir atau diakhiri oleh salah satu pihak macam produk dan jasa/ dan pihak lainnya/and others the parties, settlements, reconciliation of billing and penalties.
sebelum jangka waktu kontrak berakhir./ Maintenance of various
1 January 2008 until the last purchase order, product and services
unless terminated earlier by either party. Sejumlah mitra operator di luar negeri/ - Perjanjian jelajah internasional tentang pembebanan dan tarif,
Several international roaming partners penagihan dan pencatatan, jasa yang disediakan untuk pelanggan
Contract of Adherence (“COA”) untuk periode Penyediaan dan instalasi jelajah internasional, kewajiban kedua pihak dan prosedur settlement./
1 Juni 2019 – 31 Desember 2024, kecuali jaringan 3G/Supply and
diakhiri oleh salah satu pihak sebelum installation of 3G network International roaming agreement outlining charging and tariffs, billing
jangka waktu kontrak berakhir. /COA for and accounting, services provided for roaming subscribers, obligations
1 June 2019 - 31 December 2024 period, of the parties and settlement procedures.
Unless terminated earlier by either party.
PT Alita Praya Mitra COA untuk periode 1 Juni 2019 sampai Pembelian berbagai macam Rp 295,486 Vocus Pty Ltd, PT Bank CIMB Niaga Tbk., - Perjanjian tentang biaya sewa sirkit dan jangka waktu pembayaran,
dengan 31 Desember 2024, kecuali diakhiri peralatan jaringan/ PT Kredit Biro Indonesia Jaya, hak dan kewajiban dari kedua pihak, sanksi, restitusi dan penghentian
oleh salah satu pihak sebelum jangka waktu Purchase of various
kontrak berakhir./COA for 1 June 2019 network equipment PT Home Credit Indonesia, perjanjian./
31 December 2024, unless terminated PT Google Cloud Indonesia, Agreement of leased line costs and terms of payment, rights and
earlier by either party. dan pihak lainnya/and others. obligations of the parties, penalties, restitutions and termination
16 Agustus 2010 sampai dengan nota Pemeliharaan berbagai procedures.
pembelian terakhir, kecuali diakhiri oleh macam produk dan jasa/
salah satu pihak./16 August 2010 until the Maintenance for various PT Indosat Tbk - Perusahaan menyewakan sebagian ruang pada menara dan sebagian
last purchase order, unless terminated products and services
earlier by either party. PT Sampoerna Telekomunikasi Indonesia, ruang pada lahan kepada penyewa dan pembayaran sewa
PT SmartFren Telecom Tbk, dan jasa pemeliharaan secara reguler selama masa sewa./
13 Agustus 2008 sampai dengan nota Pemasangan peralatan PT Smart Telecom, PT First Media Tbk, The Company leases parts of its telecommunications towers and sites
pembelian terakhir, kecuali diakhiri oleh jaringan/Installation of
salah satu pihak./13 August 2008 until the network equipment PT Putra Arga Binangun, to other telecommunications operators and receives regular lease
last purchase order, unless terminated PT Dayamitra Telekomunikasi, payments and maintenance fees throughout the lease period.
earlier by either party. PT Berca Hardayaperkasa
PT Ericsson Indonesia COA untuk periode 10 Desember 2014 sampai Pemasangan dan Rp 795,597 - Jangka waktu perjanjian tersebut adalah antara 10-12 tahun dan
dengan 31 Mei 2019, kecuali diakhiri oleh salah pemeliharaan peralatan selanjutnya dapat diperpanjang antara 5-6 tahun dengan kondisi
satu pihak sebelum jangka waktu kontrak jaringan telekomunikasi/ tertentu./
berakhir, sebagaimana telah diubah dengan Installation & supply
Supplemental Agreement yang berkaitan maintenance services for Valid for 10-12 years and can be extended for the following 5-6 years
dengan COA tanggal 10 Juni 2019 tentang telecommunication under certain conditions.
perpanjangan jangka waktu COA mulai network equipment
1 Juni 2019 sampai dengan 31 Desember
2024./Contract of Adherence (“COA”) for
PT BIT Teknologi Nusantara dan/and - Perjanjian Perbaikan dan Pemeliharaan Bersama Jaringan Kabel
10 December 2014 until 31 May 2019, PT PGAS Telekomunikasi Nusantara Serat Optik Bawah Laut antara Grup dan BIT Teknologi Nusantara dan
unless terminated earlier by either party, antara Grup dengan PT PGAS Telekomunikasi Nusantara. Perjanjian
which has been amended by Supplemental
Agreement relating to the COA dated
mulai berlaku sejak tanggal 1 Januari 2014 (PT BIT Teknologi
10 June 2019 related to the extension of Nusantara) dan tanggal 6 November 2010 (PT PGAS Telekomunikasi
COA period from 1 June 2019 until Nusantara). Perjanjian-perjanjian tersebut hingga saat ini masih
31 December 2024.
diberlakukan oleh para pihak, di mana para pihak sedang dalam
Amdocs Software Perjanjian ini dimulai sejak tanggal Perjanjian lisensi piranti USD 2,269,903 proses melakukan amendemen atas jangka waktu dari masing-masing
Solutions Limited 30 Juni 2019 untuk periode lima tahun./ lunak dan jasa perjanjian tersebut. Pelaksanaan kegiatan perbaikan dan
Liability Company This agreement commenced from pemeliharaan/Software pemeliharaan dalam perjanjian-perjanjian tersebut nantinya akan
30 June 2019 for a period of five years. license and maintenance
agreement merujuk pada setiap perjanjian pemeliharaan dan perbaikan yang
ditandatangani oleh XL dengan para pihak./
PT Application Solution Perjanjian ini dimulai sejak dimulainya Perjanjian remote service/ Rp 315,567 Repair and Maintenance Agreement of Submarine Fibre Optic
Business Support System Agreement Remote service
("BSSA") dengan PT Application Solution agreement Cable between the Group and PTBIT Teknologi Nusantara and
pada tanggal 30 Juni 2019 untuk periode between the Group and PT PGAS Telekomunikasi Nusantara. The
lima tahun./From the commencement of agreement commenced from 1 January 2014 (PT BIT Teknologi
Business Support System Agreement
("BSSA") with PT Application Solution Nusantara) and 6 November 2010 (PT PGAS Telekomunikasi
on 30 June 2019 for a period of five years. Nusantara). These agreements are currently still being enforced by the
parties, wherein the parties are in the process of amending the
effective period of these agreements. The execution of the repair and
maintenance activities will refer to all repair and maintenance
agreements entered into by XL with the parties.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued) 32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued)
Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant
penting lain, di antaranya: (lanjutan) agreements, such as: (continued) penting lain, di antaranya: (lanjutan) agreements, such as: (continued)
Pihak-pihak dalam perjanjian/ Informasi penting/ Pihak-pihak dalam perjanjian/ Informasi penting/
Counterparties Significant information Counterparties Significant information
PT Indosat Tbk - Perjanjian Lease of Submarine Fibre Optic Network Kalianda-Anyer PT Indosat Tbk (lanjutan/continued) - Pada tanggal 9 Mei 2016, Perusahaan menandatangani perjanjian
(dahulu/formerly PT Hutchison 3 Indonesia) antara Perusahaan dan PT Indosat Tbk. Perjanjian mulai berlaku sejak pemegang saham dengan PT Indosat Tbk di mana kedua belah pihak
tanggal 22 Februari 2011 dan terus berlaku sampai dengan jangka sepakat untuk mendirikan Perseroan terbatas baru dengan
waktu 15 tahun sejak tanggal ready for service kecuali diakhiri lebih menyetorkan modal awal sebesar Rp 1.251 untuk memperoleh 50%
awal berdasarkan perjanjian ini. Pada tanggal 8 Desember 2022, kepemilikan. Entitas ini ditujukan untuk menjalani aktivitas tertentu
Perusahaan dan PT Indosat Tbk menandatangani kesepakatan untuk yang mendukung kerjasama jaringan kedua belah pihak di masa yang
menghentikan sewa yang efektif berlaku sejak tanggal akan datang./
19 Desember 2022./ On 9 May 2016, the Company signed shareholder agreement with PT
Agreement on the Lease of a Submarine Fibre Optic Network Indosat Tbk whereby both parties agreed to establish a new limited
Kalianda-Anyer between the Company and PT Indosat Tbk. The liability Company by investing initial capital amounting to Rp 1,251 for
agreement commenced from 22 February 2011 and shall continue in 50% ownership. This entity is intended to carry out certain activities
effect for the year of 15 years as of the ready for service date unless which enable future network collaboration of both parties in the future.
terminated earlier in accordance with the agreement. On
8 December 2022, the Company and PT Indosat Tbk has agreed to PT Huawei Tech Investment (“HTI”) - Pada tanggal 28 Maret 2019, Perusahaan menandatangani perjanjian
terminate the lease effective on 19 December 2022. Network Managed Services dengan HTI untuk periode lima tahun
yang dapat diperpanjang selama dua tahun berikutnya. Perjanjian
PT Indosat Tbk - Perusahaan menandatangani perjanjian kerja sama dengan PT tersebut meliputi jasa pengadaan, kegiatan operasional dan layanan
Indosat Tbk yang berlaku sejak tanggal 22 Agustus 2016 sampai jaringan, termasuk pemeliharaan untuk Perusahaan. Perusahaan
dengan berakhirnya jangka waktu sewa Core dan/atau Kapasitas melakukan pembayaran dimuka atas biaya jasa triwulan kepada HTI./
Kabel Utama dan Kabel Akses yang tercantum dalam Berita Acara On 28 March 2019, the Company entered into a Network Managed
Sewa terakhir, di mana jangka waktu sewa untuk masing-masing Core Services Agreement with HTI for a period of five years that can be
dan/atau Kapasitas Kabel Utama dan Kabel Akses untuk setiap batch extended for the next two years. This agreement includes
adalah lima tahun yang dimulai pada tanggal ditandatanganinya berita procurement, network operations and services, as well as
acara sewa yang terakhir untuk masing-masing batch. Dalam maintenance for the Company. The Company paid the quarterly
perjanjian tersebut, kedua pihak setuju untuk: (i) menyediakan jaringan services fees to HTI in advance.
transmisi yang terdiri dari kabel utama, kabel eksisting, kabel akses
dan perangkat di area tertentu dan/atau menambahkan jaringan - Perjanjian "Equipment Supply" di mana HTI akan menyediakan
transmisi; (ii) meningkatkan kapasitas pada kabel eksisting; (iii) produk-produk jaringan dan sistem komunikasi yang dibutuhkan oleh
menyewakan jaringan transmisi; dan (iv) mengoperasikan dan Perusahaan sesuai dengan syarat dan ketentuan yang telah
memelihara Jaringan tersebut. Perjanjian ini dimulai sejak dari tanggal disepakati dalam perjanjian. Amendemen terakhir sehubungan
ditandatanganinya dan tetap berlaku hingga akhir periode sewa, dengan modernisasi peralatan di wilayah Jawa Barat, Bali, Lombok
kecuali diakhiri lebih awal atas persetujuan kedua belah pihak. Melalui dan Sumbawa, di mana kedua pihak setuju untuk melakukan
Perjanjian yang ditandatangani pada tanggal 13 Januari 2022, pertukaran aset yang lama dengan aset baru yang disediakan oleh
Perusahaan dan PT Indosat Tbk mengatur kembali pelaksanaan sewa HTI. Amendemen terakhir berlaku mulai tanggal 4 Desember 2014
menyewa diantara Para Pihak termasuk mengatur mengenai obyek sepanjang tidak diakhiri oleh salah satu pihak berdasarkan ketentuan
sewa yang sebelumnya diatur melalui perjanjian yang ditandatangani yang berlaku dalam perjanjian./
di tanggal 22 Agustus 2016 tersebut./ Equipment supply agreement in which HTI will supply network and
The Company entered into a cooperation agreement with PT Indosat communication system products that are needed by the Company in
Tbk which was commenced on 22 August 2016 and shall be effective accordance with the terms and conditions in the agreement. The latest
until the end date of the lease period of Core and/or Main Cable and amendment related to the modernisation of equipment in West Java,
Access Cable Capacity as set forth in the latest lease memorandum, Bali, Lombok and Sumbawa, in which both parties agreed to
where, the lease period of the respective Core and/or Main Cable and exchange the old assets with the new assets provided by HTI. The
Access Cable Capacity for each batch is five years effective from the amendment is valid from 4 December 2014, unless terminated by
latest lease memorandum for the respective batch being signed. Under either party in accordance with the agreement.
the agreement, both parties agreed to: (i) provide transmission network
consisting of main cable, existing cables, access cables and devices in
certain areas and/or add a transmission network; (ii) increase capacity
in existing cables; (iii) lease the transmission network; and (iv) operate
and maintain the Network. This agreement commenced from signing
date and shall continue in effect until the end of lease period, unless
terminated earlier by both parties. Under the agreement dated
13 January 2022, the Company and PT Indosat Tbk rearranged the
lease between the Parties including rearrange the lease object
previously set forth under such agreement dated 22 August 2016.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued) 32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued)
Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant
penting lain, di antaranya: (lanjutan) agreements, such as: (continued) penting lain, di antaranya: (lanjutan) agreements, such as: (continued)
Pihak-pihak dalam perjanjian/ Informasi penting/ Pihak-pihak dalam perjanjian/ Informasi penting/
Counterparties Significant information Counterparties Significant information
Sejumlah perusahaan penyedia menara/ - Perusahaan mengadakan perjanjian sewa menara dengan Protelindo - Pada tanggal 28 Maret 2016, Perusahaan menandatangani Perjanjian
Several tower provider companies beberapa perusahaan penyedia menara, di mana Perusahaan Pembelian Aset (“APA”) dengan Protelindo di mana Perusahaan
menyewa sebagian ruang pada menara dan sebagian ruang pada bermaksud untuk menjual 2.500 menara telekomunikasi yang dimiliki
lahan dari perusahaan-perusahaan tersebut. Sebagai kompensasi, Perusahaan kepada Protelindo dan Protelindo setuju untuk
Perusahaan akan membayar sewa dan jasa pemeliharaan secara menyewakan kembali sebagian ruang pada 2.433 menara
reguler selama masa sewa. Jangka waktu perjanjian tersebut berkisar telekomunikasi tersebut kepada Perusahaan. Terkait dengan APA, di
antara 5-10 tahun. Sehubungan dengan penggabungan usaha antara tanggal yang sama, Perusahaan juga menandatangani Perjanjian
Perusahaan dan AXIS, Perusahaan mendapatkan beberapa Induk Sewa Menyewa Menara dengan Protelindo untuk periode
perjanjian sewa menara, termasuk perjanjian penghentian dini untuk sepuluh tahun yang akan berlaku pada saat Tanggal Penutupan
sewa menara tertentu yang sebelumnya disewa oleh AXIS (lihat transaksi penjualan menara tersebut. Pada tanggal 30 Juni 2016,
Catatan 36a)./ Perusahaan telah menyelesaikan transaksi tersebut dengan Protelindo
The Company entered into a tower lease agreement with several dan efektif menyewa sebagian ruang pada menara dan sebagian
tower provider companies in which the Company leases space on ruang pada lahan atas menara tersebut. Dampak atas transaksi ini
telecommunication towers and sites from these companies. As dapat dilihat pada Catatan 7 dan 12./
compensation, the Company will pay regular lease payments and On 28 March 2016, the Company signed Assets Purchase Agreement
maintenance fees throughout the lease period. The agreements are ("APA") with Protelindo in which the Company intended to sell 2,500
valid for 5-10 years. In relation to the merger between the Company telecommunication towers owned by the Company to Protelindo and
and AXIS, the Company obtained several tower lease agreements, Protelindo agreed to leaseback 2,433 specific tower spaces to the
including early termination agreements for certain tower lease Company. Related to APA, on the same date, the Company also
previously leased by AXIS (see Note 36a). signed Master Tower Lease Agreement with Protelindo for ten year
period which will be effective on the Closing Date of the transaction of
PT Solusi Tunas Pratama Tbk. (“STP”) - Pada tanggal 30 September 2014, Perusahaan menandatangani tower sales. On 30 June 2016, the Company has completed the
Perjanjian Pembelian Aset (“APA”) dengan STP di mana Perusahaan transaction with Protelindo and effectively leased spaces on the
bermaksud untuk menjual 3.500 menara telekomunikasi yang dimiliki telecommunication towers and sites. The impact of this transaction can
Perusahaan kepada STP dan STP setuju untuk menyewakan kembali be seen in Notes 7 and 12.
sebagian ruang pada menara telekomunikasi tersebut kepada
Perusahaan. Terkait dengan APA, di tanggal yang sama, Perusahaan Moratel, PT IForte Solusi Infotek, - Perusahaan mengadakan perjanjian sewa jaringan serat optik dengan
juga menandatangani Perjanjian Induk Sewa Menyewa Menara PT Persada Sokka Tama, sejumlah perusahaan penyedia serat optik. Perjanjian ini berlaku
dengan STP untuk periode sepuluh tahun yang akan berlaku PT Alita Praya Mitra, sampai dengan berakhirnya jangka waktu pemanfaatan seluruh
bersamaan dengan transaksi penjualan menara tersebut. Pada PT Mega Akses Persada, jaringan serat optik yang disewakan yaitu selama sepuluh tahun sejak
tanggal 23 Desember 2014, Perusahaan telah menyelesaikan PT Transindonesia Network, pemanfaatan jaringan untuk lokasi yang disepakati./
transaksi tersebut dengan STP dan efektif menyewa sebagian ruang PT Multitech Infomedia, The Company entered into fibre optic lease agreement with several
pada menara dan sebagian ruang pada lahan atas menara tersebut. PT Era Bangun Telecomindo, fibre optic provider companies. These agreements are valid until the
Dampak atas transaksi ini dapat dilihat pada Catatan 7 dan 12./ PT Ultra Mandiri Telekomunikasi, end of leased terms to utilise the fibre optics network for ten years,
On 30 September 2014, the Company signed Assets Purchase PT Indonesia Comnets Plus respectively from the utilisation of the agreed spots.
Agreement ("APA") with STP in which the Company intended to sell
3,500 telecommunication towers owned by the Company to STP and PT Axiata Digital Analytics Indonesia (”ADAI”) - Pada tanggal 29 Juni 2018, Perusahaan mengadakan perjanjian
STP agreed to leaseback specific tower spaces to the Company. kerjasama dengan PT Axiata Digital Analytics Indonesia (“ADAI”)
Related to APA, on the same date, the Company also signed Master sehubungan dengan Bisnis Periklanan Mobile (M-Ads) yang diubah
Tower Lease Agreement with STP for ten year period which will be pada tanggal 24 Maret 2022 dan terakhir diubah pada tanggal
effective along with the tower sales transaction. O23 December 2014, 21 Maret 2023. Berdasarkan perjanjian pada tanggal 24 Maret 2022,
the Company has completed the transaction with STP and effectively ADAI akan menyediakan jasa untuk mengelola bisnis M-Ads bersama-
leased spaces on the telecommunication towers and sites. The impact sama dengan XL, di mana kedua belah pihak sepakat terhadap
of this transaction can be seen in Notes 7 and 12. persyaratan dan kondisi tertentu. Berdasarkan perubahan terakhir
pada tanggal 21 Maret 2023, ADAI akan menyediakan jasa mengelola
penyedia layanan (manage service provider), di mana kedua belah
pihak sepakat terhadap persyaratan dan kondisi tertentu./
On 29 June 2018, the Company entered into a cooperation agreement
with PT Axiata Digital Analytics Indonesia (“ADAI”) which was
amended on 24 March 2022 and last amended on 21 March 2023 in
relation to Mobile Advertising (M-Ads) business. Under the agreement
dated 24 March 2022, ADAI provided services to manage M-Ads
business in cooperation with XL, where both parties agreed to certain
terms and conditions. Under the last amendment dated 21 March 2023,
ADAI will act as manage service provider, where both parties agreed to
certain terms and condition.
Page 233
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued) 32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued)
Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant
penting lain, di antaranya: (lanjutan) agreements, such as: (continued) penting lain, di antaranya: (lanjutan) agreements, such as: (continued)
Pihak-pihak dalam perjanjian/ Informasi penting/ Pihak-pihak dalam perjanjian/ Informasi penting/
Counterparties Significant information Counterparties Significant information
Australia – Singapore Cable Opco Pty - Pada tanggal 8 Agustus 2018, Perusahaan dan Australia – Singapore Princeton Digital Group (Indonesia Alpha) - Pada tanggal 27 Juni 2019, Perusahaan menandatangani perjanjian
Limited (“ASC”) Cable Opco Pty Limited (“ASC”) menandatangani Master Service Pte. Limited (”PDG”) dengan Princeton Digital Group (Indonesia Alpha) Pte. Limited (“PDG”)
Agreement (“MSA”) yang mengatur ketentuan mengenai penyediaan di mana PDG dan Perusahaan setuju untuk melakukan perjanjian
layanan transmisi sirkit secara timbal balik melalui Sistem Komunikasi membentuk perusahaan baru, mengalihkan aset tertentu, penjualan
Kabel Laut (“SKKL”) di mana Perusahaan akan menyediakan setengah saham dan sewa balik untuk sebagian dari aset tersebut selama periode
rangkaian layanan transmisi sirkit untuk sirkit Jakarta – Singapura dan sepuluh tahun yang dapat diperpanjang untuk periode lima tahun
sirkit Jakarta – Perth. MSA ini berlaku selama yang mana lebih lama berikutnya. Perusahaan baru tersebut didirikan dengan nama PT
antara 25 tahun dan umur ekonomis dari kabel laut yang ditentukan Princeton Digital Group Data Centres (“PDGDC”) dan bergerak dalam
oleh ASC kecuali diakhiri lebih awal berdasarkan perjanjian ini./ bidang usaha informasi dan komunikasi di mana bisnis utamanya
On 8 August 2018, the Company and Australia – Singapore Cable adalah untuk mengembangkan kegiatan aktivitas hosting. Pada tanggal
Opco Pty Limited (“ASC”) entered into Master Service Agreement 1 Juli 2019, PDGDC didirikan sebagaimana dimuat dalam Akta No. 13
(“MSA”) which sets out the terms of reciprocal supply of transmission tanggal 27 Juni 2019 dibuat di hadapan Dedy Syamri, S.H., Notaris di
circuit to each other through Submarine Cable Communication System Jakarta. Akta tersebut mendapatkan persetujuan dari Menteri Hukum
(“SKKL”), whereby the Company will supply a half circuit services for dan Hak Asasi Manusia Republik Indonesia berdasarkan Surat
Jakarta – Singapore circuit and Jakarta – Perth circuit. This MSA will Keputusan Menteri No. AHU-0031029.AH.01.01.Tahun 2019 tertanggal
valid until the later of the end of 25 years and the economic life of the 1 Juli 2019. Perusahaan dan PDG telah menyetorkan modal awal
submarine cable which is determined by ASC unless terminated earlier sebesar Rp 2.490 dan Rp 10 dengan persentase kepemilikan 99,6%
in accordance with the agreement. dan 0,4%. Sampai dengan 31 Desember 2022, Perusahaan telah
mengalihkan aset tertentu, sewa balik untuk sebagian dari aset tersebut
PT WT Indonesia - Pada tanggal 10 Desember 2018, Perusahaan menandatangani dan melakukan penjualan sebagian sahamnya di PDGDC dan PDG
perjanjian Managed Services Agreement for Multi-Vendor Assurance memberikan kontribusi tambahan modal saham sehingga persentase
and Managed Services dengan PT WT Indonesia untuk periode lima kepemilikan Perusahaan dan PDG masing-masing adalah 30% dan
tahun yang dimulai dari tanggal operasional. Perjanjian tersebut 70% dari jumlah saham PDGDC. Pada tanggal 14 Juli 2023,
meliputi jasa layanan terkelola infrastruktur IT untuk Perusahaan. kepemilikan saham Perusahaan atas PDGDC terdilusi menjadi sebesar
Perusahaan melakukan pembayaran atas jasa triwulanan kepada 10,71% (lihat Catatan 9)./
PT WT Indonesia./ On 27 June 2019, the Company entered into an agreement with
On 10 December 2018, the Company entered into a Managed Services Princeton Digital Group (Indonesia Alpha) Pte. Limited (“PDG”) in which
Agreement for Multi-Vendor Assurance and Managed Services with PDG and the Company agreed to establish a new company, transfer
PT WT Indonesia for a period of five years commencing from certain assets, sell the subscribed shares, and partially leaseback such
operational date. This agreement will include managed services on IT assets for a period of ten years which can be extended for the next five
infrastructure for the Company. The Company paid the services fees to years. The new company is established under the name PT Princeton
PT WT Indonesia on a quarterly basis. Digital Group Data Centres (“PDGDC”) and operates in information and
communication service in which the main business is to develop hosting
PT Edotco Infrastruktur Indonesia (”Edotco”) - Pada tanggal 25 Februari 2022, Perusahaan menandatangani activities. On 1 July 2019, PDGDC was established by Deed No. 13
Perjanjian Pembelian Aset (“APA”) dengan Edotco di mana dated 27 June 2019 overseen by Dedy Syamri, S.H., Notary in Jakarta.
Perusahaan bermaksud untuk menjual 859 menara telekomunikasi The deeds were approved by the Minister of Law and Human Rights of
yang dimiliki Perusahaan kepada Edotco dan Edotco setuju untuk the Republic of Indonesia as stated in the Minister’s Decision Letter No.
menyewakan kembali sebagian ruang pada menara telekomunikasi AHU-0031029.AH.01.01. Year 2019 dated 1 July 2019. The Company
tersebut kepada Perusahaan. Terkait dengan APA, di tanggal yang and PDG invested initial capital amounting to Rp 2,490 and Rp 10 for
sama, Perusahaan juga menandatangani Perjanjian Induk Sewa 99.6% and 0.4% ownership. Up to 31 December 2022, the Company
Menyewa Menara dengan Edotco untuk periode dua belas tahun./ has transferred certain assets, leased back some of the assets, and
On 25 February 2022, the Company signed Assets Purchase partially sold its shares at PDGDC and PDG contributed additional
Agreement ("APA") with Edotco in which the Company intended to sell capital share so that the Company and PDG hold 30% and 70% of total
859 telecommunication towers owned by the Company to Edotco and PDGDC shares, respectively. On July 14, 2023, the Company’s share
Edotco agreed to leaseback specific tower spaces to the Company. ownership of PDGDC was diluted to 10.71% (see Note 9).
Related to APA, on the same date, the Company also signed Master
Tower Lease Agreement with Edotco for a twelve year period. PT Application Solution - Business Support System Agreement ("BSSA") terkait dengan
pengelolaan perangkat lunak dan telah ditandatangani Perusahaan pada
tanggal 30 Juni 2019 untuk periode lima tahun. Perjanjian tersebut
meliputi desain sistem, implementasi, konfigurasi dan penggantian
maupun peningkatan atas sistem penagihan dan manajemen
pelanggan./
The Business Support System Agreement ("BSSA") related to the
management of software has been signed by the Company on
30 June 2019 for a period of five years. The agreement covers system
design, implementation, configuration, and replacement or enhancement
for billing and customer management system operation.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued) 32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued)
Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant
penting lain, di antaranya: (lanjutan) agreements, such as: (continued) penting lain, di antaranya: (lanjutan) agreements, such as: (continued)
Pihak-pihak dalam perjanjian/ Informasi penting/ Pihak-pihak dalam perjanjian/ Informasi penting/
Counterparties Significant information Counterparties Significant information
Protelindo dan/and - Pada tanggal 7 Februari 2020, Perusahaan menandatangani Dhost - Pada tanggal 18 September 2020, 11 Desember 2020 dan
PT Centratama Menara Indonesia (”CMI”) Perjanjian Pembelian Aset (“APA”) dengan Protelindo dan CMI atas 9 April 2021, Perusahaan menandatangani Perjanjian Pembelian Aset
penjualan 2.782 menara telekomunikasi yang dimiliki Perusahaan dan (“APA”) dan Perjanjian Induk Sewa Menyewa Aset Infrastruktur
Protelindo dan CMI setuju untuk menyewakan kembali sebagian ruang Telekomunikasi Dalam Ruang (“MLA”) dengan Dhost di mana
pada 2.763 menara telekomunikasi tersebut kepada Perusahaan. Perusahaan bermaksud untuk menjual dan menyewa kembali masing-
Terkait dengan APA, di tanggal yang sama, Perusahaan juga masing sebesar 196, 150 dan 167 picocell. Sewa tersebut akan
menandatangani Perjanjian Induk Sewa Menyewa Menara (“MTLA”) berlaku selama delapan tahun dan efektif pada Tanggal Penutupan
dengan Protelindo dan CMI untuk periode sepuluh tahun dan transaksi penjualan picocell. Pada tanggal 31 Desember 2021,
Perjanjian Sewa Tanah (“LLA”) dengan Perusahaan atas penyewaan Perusahaan telah menyelesaikan transaksi penjualan dan sewa balik../
538 plot tanah milik Perusahaan atas menara-menara yang dijual yang On 18 September 2020, 11 December 2020 and 9 April 2021, the
akan berlaku pada saat Tanggal Penutupan transaksi penjualan Company signed Assets Purchase Agreement ("APA") and Master
menara tersebut. Penyelesaian dari transaksi yang telah dieksekusi Lease Agreement (“MLA”) with Dhost in which the Company intended
mengacu pada pemenuhan persyaratan dan kondisi tertentu dalam to sell and leaseback 196, 150 and 167 picocells, respectively. The
tiga bulan sejak tanggal penyelesaian pemeriksaan menara lease will be valid for eight years period and effective on the Closing
telekomunikasi atau tidak melebihi 31 Desember 2020 (mana yang Date of the transaction of picocells sales. As at 31 December 2021,
lebih awal). Transaksi ini telah selesai di 2020 dan dampak atas the Company has completed sale and leaseback.
transaksi ini dapat dilihat pada Catatan 7./
On 7 February 2020, the Company signed Assets Purchase PT Circles Asia Teknologi (”Circles Indonesia”) - Pada tanggal 10 September 2020, Perusahaan dan Circles Indonesia
Agreement ("APA") with Protelindo and CMI in which the Company menandatangani perjanjian - perjanjian managed service untuk produk
intended to sell 2,782 telecommunication towers owned by the digital Perusahaan yang berlaku selama tiga tahun dengan
Company and Protelindo and CMI agreed to leaseback 2,763 specific perpanjangan otomatis untuk lima tahun. Sebagai imbalan, Circles
tower spaces to the Company. Related to APA, on the same date, the Indonesia akan mendapatkan persentase tertentu dari penjualan
Company also signed Master Tower Lease Agreement (“MTLA”) with bersih atas produk digital tersebut dari Perusahaan./
Protelindo and CMI for a ten year period and Land Lease Agreement On 10 September 2020, the Company and Circles Indonesia entered
(“LLA”) with Protelindo and CMI for the lease of 538 plot of lands into managed service agreements for the Company's digital products
owned by the Company for the towers that are sold which will be which is valid for three years with automatic renewal for an additional
effective on the Closing Date of the transaction of tower sales. The five years. In return, Circles Indonesia will receive a certain percentage
completion of executed transactions is subject to fulfilment of certain of net revenue for the digital product from the Company.
terms and conditions for a period of three months from the date of
Asia Link Dewa Pte. Ltd. dan/and - Pada tanggal 27 Januari 2022, Perusahaan dan Axiata
tower audit completion or not later than 31 December 2020 (whichever
PT First Media Tbk Investments (Indonesia) Sdn. Bhd. (bersama-sama disebut “Pembeli”)
is earlier). This transaction was completed in 2020 and the impact of
menandatangani Perjanjian Penjualan dan Pembelian Bersyarat
this transaction can be seen in Note 7.
(“CSPA”) dengan Asia Link Dewa Pte. Ltd. dan PT First Media Tbk
(bersama-sama disebut “Penjual”), sehubungan dengan rencana
Edge Network Services Limited dan/and - Pada tanggal 1 April 2020, Perusahaan, Edge Network Services
akuisisi 66,03%, atau setara dengan 1.816.735.484 saham
Google Singapore Pte Ltd Limited (“Edge”),dan Google Singapore Pte Ltd (“Google”)
kepemilikan di PT Link Net Tbk (“Linknet”). Pembeli akan memperoleh
menandatangani Landing Service Agreement for Echo Cable System
Linknet dengan harga Rp 4.800/saham atau setara dengan
(LSA) yang mengatur ketentuan mengenai kerjasama penyediaan
Rp 8.720.330, dengan syarat-syarat tertentu yang diatur dalam CSPA.
layanan kolokasi dan fasilitas pendukung pembangunan Sistem
Akibat akuisisi tersebut, Axiata Investments (Indonesia) Sdn. Bhd.
Komunikasi Kabel Laut Singapore – Eureka (“SKKL”) di mana
akan memperoleh 46,03% kepemilikan di Linknet, sedangkan
Perusahaan akan menyediakan dan mengoperasikan Terminal Station
Perusahaan akan mengakuisisi 20% kepemilikan di Linknet. Pada
dan fasilitas pendukung lainnya yang diperlukan untuk kebutuhan
tanggal 22 Juni 2022, Perusahaan telah menyelesaikan transaksi dan
SKKL. LSA berlaku selama umur ekonomis dari kabel laut yang
mengakuisisi 20% kepemilikan di Linknet (lihat Catatan 9) dengan
ditentukan oleh Edge dan Google, dengan komitmen jangka waktu
jumlah pembayaran sebesar Rp 2.641.518./
minimum selama sepuluh tahun./
On 27 January 2022, the Company and Axiata Investments
On 1 April 2020, the Company, Edge Network Services Limited, and
(Indonesia) Sdn. Bhd. (together called “the Buyers”) signed a
Google Singapore Pte Ltd entered into Landing Service Agreement for
Conditional Sales and Purchase Agreement (“CSPA”) with Asia Link
Echo Cable System (LSA) which sets out the terms of cooperation on
Dewa Pte. Ltd. and PT First Media Tbk (together called “the Sellers”),
the provision of colocation and supporting facilities service for
in relation to a proposed acquisition of 66.03%, or equivalent to
Singapore – Eureka Submarine Cable System (“Cable System”)
1,816,735,484 shares ownership in PT Link Net Tbk (“Linknet”). The
whereby the Company will provide and operated Terminal Station and
Buyers will acquire Linknet at Rp 4,800/shares or equivalent to
supporting facilities required for the Cable System. The LSA will be
Rp 8,720,330, subject to certain conditions stipulated in the CSPA. As
valid until the end of the economic life of the submarine cable which is
a result of the acquisition, Axiata Investments (Indonesia) Sdn. Bhd.
determined by Edge and Google with minimum period commitment of
will obtain 46.03% ownership in Linknet, while the Company will
ten years.
acquire 20% ownership in Linknet. As of 22 June 2022, the Company
had completed the transaction and acquired 20% ownership in Linknet
(see Note 9) with the total payment amounting to Rp 2,641,518.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
32. PERJANJIAN PENTING (lanjutan) 32. SIGNIFICANT AGREEMENTS (continued) 33. ASET DAN LIABILITAS MONETER DALAM MATA 33. MONETARY ASSETS AND LIABILITIES
UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Grup juga menandatangani sejumlah perjanjian The Group also entered into various significant
penting lain, di antaranya: (lanjutan) agreements, such as: (continued) 2023
Setara
Pihak-pihak dalam perjanjian/ Informasi penting/ dengan
Counterparties Significant information Rupiah/
Equivalent to
PT Hipernet Indodata - Pada bulan Maret 2022, Perusahaan menandatangani Perjanjian USD EUR MYR Rupiah
Penjualan dan Pembelian Bersyarat (“CSPA”) dengan Bridgefield
Prime Investments Pte. Ltd., Ameisys Global Technologies Pte. Ltd., Aset Assets
PT Mitra Indo Asia dan PT Magna Karya Archipelago untuk Kas dan setara kas 6,129,382 - - 94,492 Cash and cash equivalents
mengakuisisi 51% atau sebesar 2.805 lembar kepemilikan saham Piutang usaha 20,882,204 - - 321,920 Trade receivables
di PT Hipernet Indodata dengan syarat-syarat tertentu yang diatur Piutang lain-lain 1,026,394 - - 15,823 Other receivables
dalam CSPA. Perusahaan telah menyelesaikan transaksi ini pada Aset lain-lain 3,316,241 - - 51,123 Other assets
tanggal 2 Juni 2022. Dampak atas transaksi ini dapat dilihat pada
Catatan 37./ Jumlah aset moneter 31,354,221 - - 483,358 Total monetary assets
In March 2022, the Company signed a signed a Conditional Sales and
Purchase Agreement (“CSPA”) with Bridgefield Prime Investments Liabilitas Liabilities
Pte. Ltd., Ameisys Global Technologies Pte. Ltd., PT Mitra Indo Asia Utang usaha (43,070,775) (135,225) (44,580) (666,619) Trade payables
and PT Magna Karya Archipelago to acquire 51% or equivalent to
2,805 shares of ownership in PT Hipernet Indodata, subject to certain Jumlah liabilitas Total monetary
conditions as stipulated in the CSPA. The Company completed the moneter (43,070,775) (135,225) (44,580) (666,619) liabilities
transaction on 2 June 2022. The impact of this transaction can be
seen in Note 37. Liabilitas moneter Net monetary
bersih (11,716,554) (135,225) (44,580) (183,261) liabilities
PT Integrasi Jaringan Ekosistem (”IJE”) - Pada tanggal 6 Desember 2022, Perusahaan menandatangani
Perjanjian Pembelian Aset (“APA”) dengan IJE di mana Perusahaan 2022
bermaksud untuk menjual kabel serat optik sepanjang 3.984,5 km Setara
yang dimiliki Perusahaan kepada IJE dan IJE setuju untuk dengan
menyewakan kembali bagian inti kabel fiber optik (core) tersebut Rupiah/
kepada Perusahaan. Terkait dengan APA, di tanggal yang sama, Equivalent to
Perusahaan juga menandatangani Perjanjian Sewa Menyewa USD EUR MYR Rupiah
Jaringan Telekomunikasi (“FLA”) dengan IJE untuk periode sepuluh
tahun./ Aset Assets
On 6 December 2022, the Company signed Assets Purchase Kas dan setara kas 1,236,307 - - 19,451 Cash and cash equivalents
Agreement ("APA") with IJE in which the Company intended to sell Piutang usaha 8,551,264 - - 134,520 Trade receivables
3,984.5 km fiber optic cable owned by the Company to IJE and IJE Piutang lain-lain 1,529,676 - - 24,063 Other receivables
agreed to leaseback fiber optic core to the Company. Related to APA, Aset lain-lain 3,561,215 - - 56,021 Other assets
on the same date, the Company also signed FIber Lease Agreement
(“FLA”) with IJE for a ten year period. Jumlah aset moneter 14,878,462 - - 234,055 Total monetary assets
PT Link Net Tbk - Pada tanggal 28 Juni 2023, Perusahaan menandatangani Perjanjian Liabilitas Liabilities
sewa Fiber to the Home (FTTH) dengan PT Link Net Tbk untuk satu Utang usaha (36,197,124) - (25,500) (569,575) Trade payables
juta Home Pass yang akan dibangun, dikembangkan, dioperasikan
dan dikelola oleh PT Link Net Tbk untuk Perusahaan dengan jangka Jumlah liabilitas Total monetary
waktu 10 tahun, yang mana Perusahaan berkewajiban untuk moneter (36,197,124) - (25,500) (569,575) liabilities
membayar sejumlah perikatan minimal selama dua tahun enam
bulan./ Liabilitas moneter Net monetary
On 28 June 2023, the Company signed Lease Agreement of Fiber to bersih (21,318,662) - (25,500) (335,520) liabilities
the Home (FTTH) with PT Link Net Tbk for one million Home Passes
which will be built, developed, operated and maintained by PT Link Karena pendapatan utama Grup dalam mata uang Since the Group’s revenues are mainly
Net Tbk for the Company with a period of 10 years, in which the Rupiah sedangkan belanja modal utama Grup denominated in Rupiah and the Group’s capital
Company is obliged to pay minimum commitment for two years and
dalam mata uang Dolar Amerika Serikat, Grup expenditure is mainly denominated in US Dollars,
six months period.
terutama rentan terhadap pergerakan kurs mata the Group is mainly exposed to fluctuations in
uang asing yang akan timbul terutama dari utang foreign exchange rates resulting mainly from its
usaha Grup dalam mata uang Dolar Amerika trade payables denominated in US Dollars.
Serikat.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
33. ASET DAN LIABILITAS MONETER DALAM MATA 33. MONETARY ASSETS AND LIABILITIES 34. SEGMEN OPERASI (lanjutan) 34. OPERATING SEGMENT (continued)
UANG ASING (lanjutan) DENOMINATED IN FOREIGN CURRENCIES
(continued) Rincian informasi segmen adalah sebagai berikut: The detailed segment information is presented
below:
Aset dan liabilitas moneter Grup pada tanggal The Group’s monetary assets and liabilities on
Jasa GSM Managed service
31 Desember 2023 dilaporkan dalam mata uang 31 December 2023 were reported in Rupiah using mobile dan dan jasa
Rupiah dengan menggunakan kurs USD 1 = the exchange rates USD 1 = Rp 15,416 (full jaringan teknologi
telekomunikasi/ informasi/
Rp 15.416 (nilai Rupiah penuh) dan MYR 1 = amount Rupiah) and MYR 1 = Rp 3,342 (full GSM mobile Managed Jumlah
Rp 3.342 (nilai Rupiah penuh). Sejak tanggal amount Rupiah). Since 31 December 2023, those and and sebelum
telecommunication information eliminasi/Total
31 Desember 2023, kurs tersebut telah berubah rates were changed to USD 1 = Rp 15,734 (full network technology before Eliminasi/ Konsolidasian/
services services eliminations Eliminations Consolidated
menjadi kurs USD 1 = Rp 15.734 (nilai Rupiah amount Rupiah), and MYR 1 = Rp 3,305 (full
penuh) dan MYR 1 = Rp 3.305 (nilai Rupiah penuh) amount Rupiah) on 9 February 2024. If the Group 31 Desember 2023 31 December 2023
pada tanggal 9 Februari 2024. Apabila Grup reports monetary assets and liabilities in foreign Pendapatan 31,846,415 501,010 32,347,425 (24,774) 32,322,651 Revenue
melaporkan semua aset dan liabilitas moneter currency as at 31 December 2023 using these Beban penyusutan (11,320,465) (27,293) (11,347,758) - (11,347,758) Depreciation expenses
dalam mata uang asing pada tanggal 31 Desember rates, the unrealised foreign exchange gain will Beban infrastruktur (8,972,619) (23,027) (8,995,646) - (8,995,646) Infrastructure expenses
Beban interkoneksi dan Interconnection and
2023 dengan menggunakan kurs-kurs ini, maka increase in the amount of Rp 3,689. In the future, beban langsung lainnya (2,910,393) (286,601) (3,196,994) 24,774 (3,172,220) other direct expenses
Beban penjualan dan Sales and marketing
keuntungan selisih kurs yang belum direalisasi akan the rates might fluctuate, and Rupiah might pemasaran (2,444,234) (10,541) (2,454,775) - (2,454,775) expenses
meningkat sejumlah Rp 3.689. Pada masa depreciate or appreciate significantly compared to Beban gaji dan Salaries and employee
kesejahteraan karyawan (1,317,096) (85,146) (1,402,242) - (1,402,242) benefit expense
mendatang, kurs mungkin berfluktuasi, dan mata other currencies. Beban umum dan General and
administrasi (395,319) (17,721) (413,040) - (413,040) administrative expenses
uang Rupiah mungkin mengalami depresiasi atau Beban amortisasi (142,083) (15,133) (157,216) - (157,216) Amortisation expense
apresiasi secara signifikan terhadap mata uang (Kerugian)/keuntungan Foreign exchange
selisih kurs - bersih 12,993 (16) 12,977 - 12,977 gain/(loss) - net
lainnya. Keuntungan dari penjualan Gain from tower
dan sewa-balik menara 424,062 - 424,062 - 424,062 sale and leaseback
Lain-lain (72,743) (8,157) (80,900) - (80,900) Others
Biaya keuangan (2,933,920) (6,059) (2,939,979) - (2,939,979) Finance cost
Penghasilan keuangan 99,452 644 100,096 - 100,096 Finance income
34. SEGMEN OPERASI 34. OPERATING SEGMENT Bagian atas rugi Share of loss
bersih dari entitas asosiasi (174,836) - (174,836) (16,657) (191,493) from associates
Beban pajak penghasilan (410,195) (9,874) (420,069) - (420,069) Income tax expense
Pembuat keputusan operasional adalah Dewan The chief operating decision-maker is the Board of
Laba tahun berjalan 1,289,019 12,086 1,301,105 (16,657) 1,284,448 Profit for the year
Direksi. Direksi melakukan penelaahan terhadap Directors. The Board reviews the Company’s
pelaporan internal Perusahaan untuk menilai kinerja internal reporting in order to assess performance Pada tanggal
31 Desember 2023 As at 31 December 2023
dan mengalokasikan sumber daya. Manajemen and allocate resources. Management has Informasi lain-lain Other information
menentukan operasi segmen berdasarkan laporan determined the operating segment based on these Aset segmen 87,284,542 424,361 87,708,903 (20,819) 87,688,084 Segment assets
ini. Direksi mempertimbangkan bisnis dari sudut reports. The Board considers the business from the
Jumlah aset 87,284,542 424,361 87,708,903 (20,819) 87,688,084 Total assets
pandang imbal hasil dari modal yang diinvestasikan. return of invested capital perspective.
Liabilitas segmen 60,898,704 285,349 61,184,053 (745) 61,183,308 Segment liabilities
Pada tanggal 31 Desember 2023, Grup As at 31 December 2023, the Group manages and Jumlah liabilitas 60,898,704 285,349 61,184,053 (745) 61,183,308 Total liabilities
mengoperasikan dan mengelola bisnis dalam dua evaluates its operations in two segments: one that 31 Desember 2022 31 December 2022
segmen yaitu segmen yang menyediakan jasa GSM provides GSM mobile and telecommunications
Pendapatan 28,939,423 211,736 29,151,159 (9,165) 29,141,994 Revenue
mobile dan jaringan telekomunikasi dan segmen networks and one that provides managed and
yang menyediakan managed service dan jasa information technology services to customers. The Beban penyusutan (10,564,296) (5,326) (10,569,622) - (10,569,622) Depreciation expenses
teknologi informasi kepada para pelanggan. operating segments are managed separately Beban infrastruktur (7,728,585) (5,362) (7,733,947) - (7,733,947) Infrastructure expenses
Beban penjualan
Segmen usaha dikelola secara terpisah karena because each offers different services/products dan pemasaran (2,615,009) (2,989) (2,617,998) - (2,617,998) Sales and marketing expenses
masing-masing menawarkan jasa/produk yang and serves different markets. The Group mainly Beban interkoneksi dan Interconnection and
beban langsung lainnya (2,767,408) (118,234) (2,885,642) 9,165 (2,876,477) other direct expenses
berbeda dan melayani pasar yang berbeda. Grup operates in one geographical area, so no Beban gaji dan kesejahteraan Salaries and employee
karyawan (1,285,705) (39,824) (1,325,529) - (1,325,529) benefit expense
terutama beroperasi dalam satu wilayah geografis, geographical information on segments is General and
oleh karena itu informasi segmen geografis tidak presented. Beban umum dan administrasi
Beban amortisasi
(341,866)
-
(10,832)
(7,567)
(352,698)
(7,567)
-
-
(352,698)
(7,567)
administrative expenses
Amortisation expense
disajikan. (Kerugian)/keuntungan selisih Foreign exchange
selisih kurs - bersih (61,311) 16 (61,295) - (61,295) (loss)/gain - net
Keuntungan dari penjualan Gain from tower
Pada tanggal 31 Desember 2023, Perusahaan As at 31 December 2023, the Company operates dan sewa-balik menara 446,805 - 446,805 - 446,805 sale and leaseback
Lain-lain (30,309) 1,502 (28,807) - (28,807) Others
mengoperasikan dan mengelola bisnis dalam satu and manages the business in a single segment Biaya keuangan (2,776,627) (758) (2,777,385) - (2,777,385) Finance cost
Penghasilan keuangan 111,670 48 111,718 - 111,718 Finance income
segmen yang menyediakan jasa GSM mobile dan which provides GSM mobile and Bagian atas laba/(rugi) bersih Share of profit/(loss)
jaringan telekomunikasi kepada para pelanggan. telecommunications network services to its dari entitas asosiasi 16,066 - 16,066 (12,228) 3,838 from associates
Beban pajak penghasilan (225,842) (6,000) (231,842) - (231,842) Income tax expense
customers.
Laba tahun berjalan 1,117,006 16,410 1,133,416 (12,228) 1,121,188 Profit for the year
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
34. SEGMEN OPERASI (lanjutan) 34. OPERATING SEGMENT (continued) 35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued)
Rincian informasi segmen adalah sebagai berikut: The detailed segment information is presented Faktor risiko keuangan (lanjutan) Financial risk factors (continued)
(lanjutan) below: (continued)
(i) Risiko pasar (i) Market risk
Jasa GSM Managed service
mobile dan dan jasa
jaringan teknologi Risiko nilai tukar mata uang asing Foreign exchange risk
telekomunikasi/ informasi/
GSM mobile Managed Jumlah
and and sebelum Perubahan nilai tukar telah dan diperkirakan Changes in exchange rates have affected and
telecommunication
network
information
technology
eliminasi/Total
before Eliminasi/ Konsolidasian/
akan terus, memberikan pengaruh terhadap may continue to affect the Group’s results of
services services eliminations Eliminations Consolidated hasil usaha dan arus kas Grup. Beberapa operations and cash flows. Some of the
belanja modal Grup adalah dan diperkirakan Group’s capital expenditure is, and is expected
Pada tanggal akan terus, didenominasi dengan mata uang to continue to be, denominated in US Dollars.
31 Desember 2022 As at 31 December 2022
Informasi lain-lain Other information Dolar Amerika Serikat. Sebagian besar Most of the Group’s revenues are
Aset segmen 86,922,528 369,364 87,291,892 (14,112) 87,277,780 Segment assets
pendapatan Grup adalah dalam mata uang denominated in Rupiah.
Rupiah.
Jumlah aset 86,922,528 369,364 87,291,892 (14,112) 87,277,780 Total assets
Liabilitas segmen 61,271,816 233,622 61,505,438 (1,884) 61,503,554 Segment liabilities Grup rentan terhadap risiko nilai tukar mata The Group is exposed to foreign exchange risk
Jumlah liabilitas 61,271,816 233,622 61,505,438 (1,884) 61,503,554 Total liabilities uang asing yang timbul dari berbagai eksposur arising from various currency exposures,
mata uang, terutama terhadap mata uang Dolar primarily with respect to US Dollars. Foreign
Lihat Catatan 2d dan 23 untuk keterangan dari Refer to Notes 2d and 23 for the description of the Amerika Serikat. Risiko nilai tukar mata uang exchange risk arises from future commercial
masing-masing tipe produk dan jasa dalam setiap types of products and services under each reporting asing timbul dari transaksi komersil di masa transactions and recognised assets and
pelaporan segmen. segment. depan serta aset dan liabilitas yang diakui. liabilities.
Manajemen memonitor hasil dari kegiatan bisnis Management monitors the operating results of its Pada tanggal 31 Desember 2023 dan 2022, jika As at 31 December 2023 and 2022 if the
unitnya secara terpisah dengan tujuan untuk business units separately for the purpose of making Rupiah melemah/menguat 5% terhadap mata Rupiah had weakened/strengthened by 5%
mengambil keputusan mengenai alokasi atas sumber decisions about resource allocation and uang asing dengan seluruh variabel lain tetap, against the foreign currency with all other
yang tersedia dan penilaian atas performa. Performa performance assessment. Segment performance is maka laba periode/tahun berjalan akan variables held constant, the profit for the
segmen dievaluasi berdasarkan keuntungan atau evaluated based on operating profit or loss which, berkurang/bertambah masing-masing sebesar year/year would have been lower/higher by
kerugian operasi atas hal-hal tertentu seperti yang in certain respects as explained in the table above, Rp 9.165 dan Rp 16.775, terutama yang timbul Rp 9,165 and Rp 16,775, respectively, mainly
dijelaskan pada tabel di atas diukur secara berbeda is measured differently from operating profit or loss sebagai akibat kerugian/keuntungan selisih kurs as a result of foreign exchange losses/gain on
dari keuntungan atau kerugian operasi dalam laporan in the consolidated financial statements. The atas penjabaran aset dan liabilitas moneter translation of monetary assets and liabilities
keuangan konsolidasian. Pembiayaan (termasuk Group’s financing (including financing cost and dalam mata uang asing. denominated in foreign currency.
biaya dan penghasilan keuangan) dan pajak finance income) and income taxes are not
penghasilan Grup tidak dikelola pada tingkatan managed on the segment level and therefore are Risiko tingkat suku bunga Interest rate risk
segmen sehingga tidak dialokasikan pada segmen not allocated to operating segments.
usaha. Grup menghadapi risiko tingkat suku bunga The Group is exposed to interest rate risk
yang disebabkan oleh perubahan tingkat suku through the impact of rate changes on interest-
bunga pinjaman yang dikenakan bunga. Suku bearing liabilities. Interest rate for short and
35. MANAJEMEN RISIKO KEUANGAN 35. FINANCIAL RISK MANAGEMENT bunga atas pinjaman jangka pendek dan jangka long-term borrowing can fluctuate over the
panjang dapat berfluktuasi sepanjang periode borrowing period. The treasury policy sets the
Aktivitas Grup mengandung berbagai macam risiko The Group’s activities expose it to a variety of pinjaman. Kebijakan keuangan memberikan guideline that the interest rate exposure shall
keuangan yaitu: risiko pasar (termasuk risiko nilai financial risks: market risk (including foreign panduan bahwa eksposur tingkat bunga harus be identified and minimised/neutralised
tukar mata uang asing dan risiko tingkat suku exchange risk and interest rate risk), credit risk and diidentifikasi dan diminimalisasi/dinetralisasi promptly.
bunga), risiko kredit dan risiko likuiditas. Secara liquidity risk. The Group’s overall financial risk secara tepat waktu.
keseluruhan, program manajemen risiko keuangan management programme focuses on the
Grup berfokus pada ketidakpastian pasar keuangan unpredictability of financial markets and seeks to Untuk mengukur risiko pasar atas pergerakan To measure the market risk of interest rate
dan untuk meminimalisasi potensi kerugian yang minimise its potential adverse effects on the suku bunga, Grup melakukan analisa marjin fluctuation, the Group primarily uses interest
berdampak buruk pada kinerja keuangan Grup. financial performance of the Group. dan pergerakan suku bunga, dan jika diperlukan margin and spread analysis, and if considered
melakukan transaksi kontrak swap tingkat suku necessary enters into interest rate swap
Fungsi manajemen risiko keuangan dijalankan oleh Financial risk management is carried out by a bunga. contracts.
bagian treasury di bawah kebijakan-kebijakan yang treasury department under policies approved by
disetujui oleh Dewan Direksi. Bagian treasury the Board of Directors. The treasury department
mengidentifikasi, mengevaluasi dan melakukan identifies, evaluates and hedges financial risks if
aktivitas lindung nilai terhadap risiko-risiko considered necessary.
keuangan, jika dianggap diperlukan.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued) 35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued)
Faktor risiko keuangan (lanjutan) Financial risk factors (continued) Faktor risiko keuangan (lanjutan) Financial risk factors (continued)
(ii) Risiko kredit (ii) Credit risk (ii) Risiko kredit (lanjutan) (ii) Credit risk (continued)
Profil pinjaman jangka panjang Grup adalah The Group long-term loans profile is as Kualitas kredit dari aset keuangan baik yang The credit quality of financial assets that are
sebagai berikut: follows: belum jatuh tempo atau tidak mengalami neither past due nor impaired and past due but
penurunan nilai dan jatuh tempo tetapi tidak not impaired can be assessed by reference to
2023 2022 mengalami penurunan nilai dapat dinilai dengan external credit ratings (if available) or the
mengacu pada peringkat kredit eksternal (jika expected loss rates referring to historical
Pinjaman jangka panjang tersedia) atau tingkat kerugian ekspektasian information and forward-looking information on
dengan tingkat suku Floating interest rates yang mengacu pada informasi historis dan macroeconomic factors that affect
bunga mengambang 6,024,900 7,753,650 long-term loans informasi forward-looking mengenai faktor- counterparty default rates.
faktor makroekonomi yang memengaruhi tingkat
6,024,900 7,753,650 gagal bayar debitur.
Pada tanggal 31 Desember 2023 dan 2022, jika As at 31 December 2023 and 2022, if the a. Bank, setara kas, deposito bank dan a. Bank, cash equivalents, bank deposits
suku bunga lebih tinggi 50 basis poin dengan interest rates had been 50 basis points higher saldo bank yang dibatasi and restricted cash in banks
semua variabel lain tetap, maka laba tahun with all variables held constant, profit for the penggunaannya
berjalan akan berkurang masing-masing year would have been lower by Rp 15,795 and
sebesar Rp 15.795 dan Rp 42.467, terutama Rp 42,467, respectively, mainly as a result of 2023 2022
yang timbul sebagai akibat beban bunga yang higher interest expense on floating rate loans.
lebih tinggi atas pinjaman dengan suku bunga Dengan pihak yang
mengambang. memiliki peringkat Counterparties with
kredit eksternal external credit rating
Grup memiliki risiko kredit yang terutama The Group is exposed to credit risk primarily Moody’s Moody’s
berasal dari kas pada bank, deposito berjangka from cash in banks, time deposits, trade - A1 30,778 425,000 A1 -
piutang usaha, piutang lain-lain dan aset lain- receivables, other receivables and other
lain - investasi bersih dalam sewa pembiayaan. assets - net investment in finance lease. Fitch Fitch
- B 40,000 - B -
Kualitas kredit aset keuangan Credit quality of financial assets - F1+ 628,054 916,866 F1+ -
- F1 4 2,288,252 F1 -
Grup mengelola risiko kredit yang terkait The Group manages credit risk exposed from - F2 1,077 233 F2 -
dengan simpanan di bank dan piutang derivatif its deposits with banks and derivatives
dengan memonitor reputasi, peringkat kredit receivables by monitoring reputations and, 669,135 3,205,351
dan membatasi risiko agregat dari masing- credit ratings and limiting the aggregate risk to
masing pihak dalam kontrak. Untuk bank, hanya any individual counterparty. For banks, only Pefindo Pefindo
pihak-pihak independen dengan predikat baik independent parties with a good rating are - idAAA 185,802 639,353 idAAA -
yang diterima. accepted. - idAA+ - 465,000 idAA+ -
- idAA 40,000 400,000 idAA -
2023 2022 - idAA- 40,131 50,074 idAA- -
Bank dan setara kas 964,849 5,182,823 Bank and cash equivalents 265,933 1,554,427
Piutang usaha 1,385,785 738,169 Trade receivables
Piutang lain-lain 257,357 315,352 Other receivables 965,846 5,184,778
Aset lain-lain 52,119 54,124 Other assets
Jumlah 2,660,110 6,290,468 Total
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued) 35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued)
Faktor risiko keuangan (lanjutan) Financial risk factors (continued) Faktor risiko keuangan (lanjutan) Financial risk factors (continued)
(ii) Risiko kredit (lanjutan) (ii) Credit risk (continued) (ii) Risiko kredit (lanjutan) (ii) Credit risk (continued)
b. Piutang usaha b. Trade receivables d. Piutang sewa pembiayaan (lanjutan) d. Lease receivables (continued)
Kualitas kredit piutang usaha setelah The credit quality of trade receivables net - Grup 1 - pelanggan baru/pihak-pihak - Group 1 - new customers/related
dikurangi cadangan penurunan nilai of provision for receivables impairment berelasi (kurang dari enam bulan). parties (less than six months).
piutang adalah sebagai berikut: was as follows: - Grup 2 - pelanggan yang sudah - Group 2 - existing customers/related
ada/pihak-pihak berelasi (lebih dari parties (more than six months) with
2023 2022 enam bulan) tanpa adanya kasus no defaults in the past.
gagal bayar di masa lalu.
Dengan pihak yang tidak - Grup 3 - pelanggan yang sudah - Group 3 - existing customers/related
memiliki peringkat Counterparties without ada/pihak-pihak berelasi (lebih dari parties (more than six months) with
kredit eksternal: external credit ratings: enam bulan) dengan beberapa some defaults in the past. All defaults
- Grup 1 161,756 63,581 Group 1 - kejadian gagal bayar pada masa lalu. were fully recovered.
- Grup 2 1,029,441 397,924 Group 2 - Seluruh gagal bayar telah terpulihkan.
- Grup 3 194,588 276,664 Group 3 -
(iii) Risiko likuiditas (iii) Liquidity risk
1,385,785 738,169
Risiko likuiditas timbul dalam keadaan di mana Liquidity risk arises in situations where the
c. Piutang lain-lain c. Other receivables Grup mengalami kesulitan dalam mendapatkan Group has difficulties in obtaining funding. The
sumber pendanaan. Bisnis prabayar Grup dan Group’s prepaid business and prudent liquidity
2023 2022 manajemen risiko likuiditas berarti menjaga risk management implies maintaining sufficient
kecukupan saldo kas dan setara kas. Grup cash and cash equivalents. The Group
Dengan pihak yang tidak mengelola risiko likuiditas dengan mengawasi manages liquidity risk by continuously
memiliki peringkat Counterparties without arus kas aktual dan proyeksi secara terus monitoring the forecast and actual cash flows
kredit eksternal: external credit ratings: menerus dan mengawasi profil tanggal jatuh and monitoring the maturity profiles of financial
- Grup 1 - - Group 1 - tempo aset dan liabilitas keuangan. assets and liabilities.
- Grup 2 257,357 315,352 Group 2 -
- Grup 3 - - Group 3 - Grup memonitor proyeksi persyaratan likuiditas The Group monitors forecasts of the liquidity
untuk memastikan bahwa Grup memiliki saldo requirements to ensure that the Group has
257,357 315,352 kecukupan kas untuk memenuhi keperluan sufficient cash to meet operational needs while
operasi serta menjaga kecukupan dalam maintaining sufficient headroom on its
d. Piutang sewa pembiayaan d. Lease receivables fasilitas pinjaman yang belum ditarik sepanjang undrawn committed borrowing facilities at all
waktu sehingga Grup memenuhi semua batas times so that the Group does not breach the
2023 2022 atau persyaratan fasilitas pinjaman. borrowing limits or covenants on any of its
borrowing facilities.
Dengan pihak yang tidak
memiliki peringkat Counterparties without Proyeksi tersebut mempertimbangkan rencana Such forecasting takes into consideration the
kredit eksternal: external credit ratings: pembiayaan utang Grup dan kepatuhan Group’s debt financing plans and covenant
- Grup 1 - - Group 1 - terhadap persyaratan pinjaman. Manajemen compliance. Management believes that the
- Grup 2 51,122 52,169 Group 2 - percaya bahwa strategi melakukan cash strategy to manage cash sweeping and
- Grup 3 - - Group 3 - sweeping dan pooling of funds dari sejumlah pooling of funds across accounts in the main
rekening bank ke dalam rekening bank operating banks can ensure a better
51,122 52,169 operasional utama dapat memastikan concentration of funds and optimisation of
pendanaan yang terkonsentrasi dan liquidity.
optimalisasi likuiditas yang lebih baik.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued) 35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued)
Faktor risiko keuangan (lanjutan) Financial risk factors (continued) Estimasi nilai wajar Fair value estimation
(iii) Risiko likuiditas (lanjutan) (iii) Liquidity risk (continued) Nilai wajar aset dan liabilitas keuangan diestimasi The fair value of financial assets and financial
untuk keperluan pengakuan dan pengukuran atau liabilities must be estimated for recognition and
Tabel di bawah menunjukkan analisis jatuh The following table analyses the Group’s untuk keperluan pengungkapan. measurement or for disclosure purposes.
tempo liabilitas keuangan Grup dalam rentang financial liabilities into relevant maturity
waktu yang menunjukkan jatuh tempo groupings based on their contractual maturities PSAK 68, “Pengukuran nilai wajar” mensyaratkan SFAS 68, “Fair value measurement” requires
kontraktual untuk semua liabilitas keuangan for all non-derivative financial liabilities and pengungkapan atas pengukuran nilai wajar dengan disclosure of fair value measurements by level of
non-derivatif dan derivatif di mana jatuh tempo derivative financial instruments for which the tingkat hirarki nilai wajar sebagai berikut: the following fair value measurement:
kontraktual sangat penting untuk pemahaman contractual maturities are essential for an (a) harga kuotasian (tidak disesuaikan) dalam (a) hierarchy quoted prices (unadjusted) in active
terhadap arus kas. Jumlah yang diungkapkan understanding of the timing of the cash flows. pasar aktif untuk aset atau liabilitas yang identik markets for identical assets or liabilities (level
dalam tabel adalah arus kas kontraktual yang The amounts disclosed in the table are the (tingkat 1), 1),
tidak terdiskonto (termasuk pembayaran pokok contractual undiscounted cash flows (including (b) input selain harga kuotasian yang termasuk (b) inputs other than quoted prices included within
dan bunga). principal and interest payments). dalam tingkat 1 yang dapat diobservasi untuk level 1 that are observable for the asset or
aset atau liabilitas, baik secara langsung liability, either directly (as prices) or indirectly
2023 (misalnya harga) atau secara tidak langsung (derived from prices) (level 2), and
Antara
1 dan 2 (misalnya derivasi dari harga) (tingkat 2), dan
Jumlah Arus kas Kurang dari tahun/ Lebih dari (c) input untuk aset atau liabilitas yang bukan (c) inputs for the asset or liability that are not
tercatat/ kontraktual/ 1 tahun/ Between 2 tahun/ berdasarkan data pasar yang dapat diobservasi based on observable market data
Carrying Contractual Not later 1 and More than
amount cash flows than 1 year 2 years 2 years
(input yang tidak dapat diobservasi) (tingkat 3). (unobservable inputs) (level 3).
Utang usaha 9,382,500 9,382,500 9,382,500 - - Trade payables Tabel di bawah ini menggambarkan nilai tercatat The fair values of financial assets and liabilities,
Beban yang masih dan nilai wajar dari aset dan liabilitas keuangan: together with the carrying amounts, are as follows:
harus dibayar 632,905 632,905 632,905 - - Accrued expenses
Liabilitas sewa 35,813,446 44,522,614 8,108,180 6,553,043 29,861,391 Lease liabilities
Pinjaman jangka 2023 2022
panjang 6,024,900 7,194,152 849,655 2,987,354 3,357,143 Long-term loans Nilai Nilai Nilai Nilai
Sukuk ijarah 2,362,387 2,997,587 567,757 858,160 1,571,670 Sukuk ijarah tercatat/ wajar/ tercatat/ wajar/
Utang obligasi 1,717,301 2,222,955 168,158 869,051 1,185,746 Bonds payable Carrying Fair Carrying Fair
Jumlah 55,933,439 66,952,713 19,709,155 11,267,608 35,975,950 Total
amount value amount value
Aset keuangan: Financial assets:
Berikut rincian pinjaman jangka panjang, sukuk Details of the long-term loans, sukuk ijarah Kas dan setara kas 966,027 966,027 5,184,113 5,184,113 Cash and cash equivalents
Piutang usaha 1,385,785 1,385,785 738,169 738,169 Trade receivables
ijarah dan utang obligasi sesuai dengan jadwal and bonds payable according to the maturity Piutang lain-lain 257,357 257,357 315,352 315,352 Other receivables
jatuh tempo: schedule are as follow: Aset lain-lain 52,119 52,119 54,124 54,124 Other assets
2023 2022 Jumlah aset keuangan 2,661,288 2,661,288 6,291,758 6,291,758 Total financial assets
Liabilitas keuangan: Financial liabilities:
Kurang dari 1 tahun 853,854 5,622,193 Not later than 1 year Utang usaha 9,382,500 9,382,500 11,337,283 11,337,283 Trade payables
Antara 1 tahun dan 2 tahun 4,098,356 817,118 Between 1 year and 2 years Beban yang masih
harus dibayar 632,905 632,905 563,303 563,303 Accrued expenses
Lebih dari 2 tahun 5,152,378 5,670,604 More than 2 years Pinjaman
jangka panjang 6,024,900 6,034,488 7,753,650 7,759,002 Long-term loans
10,104,588 12,109,915 Liabilitas sewa 35,813,446 36,868,598 31,849,858 33,227,668 Lease liabilities
Sukuk ijarah 2,362,387 2,431,225 2,509,695 2,602,564 Sukuk ijarah
Utang obligasi 1,717,301 1,755,456 1,846,570 1,887,256 Bonds payable
Rincian liabilitas sewa sesuai dengan jadwal Details of the lease liabilities according to the
jatuh tempo dapat dilihat di Catatan 14. maturity schedule can be seen in Note 14. Jumlah liabilitas
keuangan 55,933,439 57,105,172 55,860,359 57,377,076 Total financial liabilities
Pengaturan pembiayaan Financing arrangements
Grup memiliki fasilitas garansi bank dengan The Group has bank guarantee facilities with
berbagai institusi keuangan sejumlah setara various financial institutions totalling the equivalent
Rp 383.682. Fasilitas ini tersedia dalam beberapa of Rp 383,682. The facility is available for various
periode sampai dengan Juni 2024. Pada tanggal periods up to June 2024. As at
31 Desember 2023, porsi yang belum digunakan 31 December 2023, the unused portion was
adalah Rp 377.122. Rp 377,122.
Page 241
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued) 35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued)
Estimasi nilai wajar (lanjutan) Fair value estimation (continued) Instrumen keuangan disalinghapus Offsetting financial instruments
Nilai wajar atas sebagian besar aset dan liabilitas The fair value of most of the financial assets and Aset keuangan dan liabilitas berikut tunduk kepada The following financial assets and liabilities are
keuangan mendekati nilai tercatat karena dampak liabilities approximates their carrying amount, as saling hapus, perjanjian induk untuk menyelesaikan subject to offsetting, enforceable master netting
pendiskontoan yang tidak signifikan. the impact of discounting is not significant. secara neto dan perjanjian serupa. arrangements and similar agreements.
Tidak terdapat pengalihan antara tingkat 1 dan 2 There were no transfers between levels 1 and 2 2023 2022
selama periode/tahun berjalan. during the period/year. Piutang Utang Piutang Utang
usaha/ usaha/ usaha/ usaha/
Trade Trade Trade Trade
Nilai wajar untuk instrumen keuangan yang The fair value of financial instruments traded in
receivables payables receivables payables
diperdagangkan di pasar aktif ditentukan active markets is based on quoted market prices at
berdasarkan kuotasi nilai pasar pada tanggal the reporting date. Jumlah bruto diakui Gross amounts of recognised
pelaporan. dalam aset keuangan 895,770 - financial assets
Jumlah bruto diakui 1,623,224 - Gross amounts
dalam liabilitas of recognised
Kuotasi nilai pasar yang digunakan Grup untuk aset The quoted market price used for financial assets keuangan - 9,619,939 - 11,494,884 financial liabilities
keuangan adalah harga penawaran (bid price), held by the Group is the current bid price, while
sedangkan untuk liabilitas keuangan menggunakan financial liabilities use the ask price. These Jumlah bruto diakui Gross amounts of
dalam liabilitas recognised financial
harga jual (ask price). Instrumen keuangan ini instruments are included in level 1. keuangan yang liabilities set off
termasuk dalam tingkat 1. saling hapus di laporan in the financial
posisi keuangan (237,439) - (157,601) - positions
Nilai wajar instrumen keuangan yang tidak The fair value of financial instruments that are not Jumlah bruto diakui Gross amounts of
diperdagangkan di pasar aktif ditentukan dengan traded in an active market is determined using dalam aset keuangan recognised financial
menggunakan teknik penilaian tertentu. Teknik valuation techniques. These valuation techniques yang saling hapus assets set off
tersebut menggunakan data pasar yang dapat maximise the use of observable market data where di laporan posisi in the financial
keuangan - (237,439) - (157,601) positions
diobservasi sepanjang tersedia dan seminimal it is available and rely as little as possible on
mungkin mengacu pada estimasi. Apabila seluruh estimates. If all significant inputs required to assess Jumlah neto 1,385,785 9,382,500 738,169 11,337,283 Net amount
input signifikan atas nilai wajar dapat diobservasi, the fair value of an instrument are observable, the
instrumen keuangan ini termasuk dalam tingkat 2. instrument is included in level 2. Untuk aset dan liabilitas keuangan yang tunduk For the financial assets and liabilities subject to
pada perjanjian induk untuk menyelesaikan secara enforceable master netting arrangements or similar
Teknik penilaian tertentu digunakan untuk Specific valuation techniques used to value neto atau perjanjian serupa di atas, setiap perjanjian arrangements above, each agreement between the
menentukan nilai instrumen keuangan mencakup financial instruments include the following: antara Grup dan pihak lawan memperbolehkan Group and the counterparty allows for net
sebagai berikut: penyelesaian neto atas aset dan liabilitas keuangan settlement of the relevant financial assets and
- penggunaan harga yang diperoleh dari bursa - the use of quoted market prices or dealer bersangkutan ketika kedua pihak memilih untuk liabilities when both parties elect to settle on a net
atau pedagang efek untuk instrumen sejenis; quotes for similar instruments; and menyelesaikan dengan dasar neto. Ketika pemilihan basis. In the absence of such an election, financial
dan demikian tidak ada, aset dan liabilitas keuangan assets and liabilities will be settled on a gross
- teknik lain, seperti analisis arus kas diskontoan, - other techniques, such as discounted cash diselesaikan dengan dasar bruto, tetapi masing- basis, however, each party to the master netting
digunakan untuk menentukan nilai wajar flows analysis, are used to determine fair value masing pihak dalam perjanjian induk atau perjanjian agreement or similar agreement will have the
instrumen keuangan lainnya. for the remaining financial instruments. serupa mempunyai opsi untuk menyelesaikan option to settle all such amounts on a net basis in
jumlah-jumlah tersebut dengan dasar neto pada the event of default of the other party.
Aset dan liabilitas keuangan Grup yang diukur dan The Group’s financial assets and liabilities that are peristiwa di mana terjadi gagal bayar salah satu
diakui dengan hirarki tingkat pengukuran nilai wajar measured and recognised using the fair value pihak.
tingkat 2 adalah sukuk ijarah, utang obligasi, measurement of level 2 are sukuk ijarah, bonds
pinjaman jangka panjang dan liabilitas sewa. payable, long-term loans and lease liabilities. Manajemen risiko permodalan Capital risk management
Nilai wajar dari pinjaman jangka panjang dan The fair value of long-term loans and lease Tujuan Grup dalam mengelola permodalan adalah The objectives of the Group when managing
liabilitas sewa menggunakan tingkat biaya pinjaman liabilities is estimated based on discounted cash untuk melindungi kemampuan Grup dalam capital are to safeguard the ability of the Group to
sebesar 6,50% (2022: 6,64%) dan nilai wajar dari flows using cost of debt of 6.50% mempertahankan kelangsungan usaha, sehingga continue as a going concern in order to provide
sukuk ijarah dan utang obligasi menggunakan (2022: 6.64%) and the fair value of sukuk ijarah and entitas dapat tetap memberikan imbal hasil bagi returns for shareholders and benefits for other
tingkat biaya pinjaman sebesar 6,49% bonds payable are estimated based on discounted pemegang saham dan manfaat bagi pemangku stakeholders and to maintain an optimal capital
(2022: 6,94%) diestimasi berdasarkan arus kas cash flow using cost of debt of 6.49% (2022: kepentingan lainnya dan untuk mengelola struktur structure to minimise the effective cost of capital. In
diskontoan. 6.94%), respectively. modal yang optimal untuk meminimalisasi biaya order to maintain the capital structure, the Group
modal yang efektif. Dalam rangka mengelola may from time to time adjust the amount of
struktur modal, Grup mungkin menyesuaikan jumlah dividends, issue new shares or increase/decrease
dividen, menerbitkan saham baru atau debt levels.
menambah/mengurangi jumlah utang.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
35. MANAJEMEN RISIKO KEUANGAN (lanjutan) 35. FINANCIAL RISK MANAGEMENT (continued) 36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND
YANG PENTING (lanjutan) JUDGEMENTS (continued)
Manajemen risiko permodalan (lanjutan) Capital risk management (continued)
a. Estimasi dan asumsi akuntansi yang penting a. Critical accounting estimates and
Persyaratan-persyaratan tertentu sehubungan Certain covenants in relation to debts and the (lanjutan) assumptions (continued)
dengan pinjaman dan kepatuhan Grup terhadap Group's compliance with the covenants are
persyaratan-persyaratan tersebut diungkapkan di disclosed in Note 13. Estimasi umur manfaat aset takberwujud Estimated useful lives of intangible assets
Catatan 13. (lanjutan) (continued)
Grup membuat estimasi dan asumsi mengenai The Group makes estimates and assumptions Spektrum (lanjutan) Spectrum (continued)
masa depan. Estimasi akuntansi yang dihasilkan, concerning the future. The resulting accounting
menurut definisi, jarang yang sama dengan hasil estimates will, by definition, seldom equal the Masa manfaat ekonomis dikaji secara periodik, The economic useful life is periodically
aktualnya. Estimasi dan asumsi yang secara related actual results. The estimates and mempertimbangkan faktor tertentu seperti reviewed, taking into consideration such
signifikan berisiko menyebabkan penyesuaian assumptions that have a significant risk of causing perubahan teknologi dan lingkungan regulasi. factors as changes in technology and
material terhadap nilai tercatat aset dan liabilitas a material adjustment to the carrying amounts of regulatory environment.
selama dua belas bulan ke depan dipaparkan di assets and liabilities within the next twelve months
Catatan 36. are explained in Note 36. Pelanggan Customers
Perusahaan mengakui customer relationship The Company recognised customer
36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND dari akuisisi PT Hipernet Indodata. Estimasi relationship from the acquisition of PT Hipernet
YANG PENTING JUDGEMENTS masa manfaat ekonomis pelanggan adalah Indodata. The customers estimated economic
enam belas tahun berdasarkan tingkat churn useful life is sixteen years based on the most
a. Estimasi dan asumsi akuntansi yang penting a. Critical accounting estimates and aktual pelanggan PT Hipernet Indodata (lihat recent actual PT Hipernet Indodata customers'
assumptions Catatan 8). churn rate (see Note 8).
Estimasi umur manfaat aset tetap Estimated useful lives of fixed assets Estimasi masa manfaat ekonomis pelanggan The customers estimated economic useful life
adalah 4 (empat) tahun berdasarkan tingkat is 4 (four) years based on the most recent
Grup melakukan penelaahan berkala atas masa The Group periodically reviews the estimated churn aktual pelanggan AXIS termutakhir. actual AXIS customers’ churn rate.
manfaat ekonomis aset tetap berdasarkan useful lives of fixed assets based on factors
faktor-faktor seperti kondisi teknis dan such as technical specification and future Merk Brand
perkembangan teknologi di masa depan. technological developments.
Estimasi masa manfaat ekonomis merk selama The brand estimated economic useful life of
Hasil operasi di masa depan akan dipengaruhi Future results of operations could be materially 20 (dua puluh) tahun mencerminkan ekspektasi 20 (twenty) years is based on the Company’s
secara material atas perubahan estimasi ini affected by changes in these estimates Perusahaan hingga periode di mana expectation of the period up to which the
yang diakibatkan oleh perubahan faktor yang brought about by changes in the factors Perusahaan akan menggunakan merk Hypernet Company will use the Hypernet brand in the
telah disebutkan di atas. mentioned. di masa yang akan datang (lihat Catatan 8). future (see Note 8).
Estimasi umur manfaat aset takberwujud Estimated useful lives of intangible assets Imbalan pascakerja Post-employment benefits
Spektrum Spectrum Nilai kini liabilitas imbalan pascakerja The present value of the post-employment
tergantung pada beberapa faktor yang benefits obligations depends on a number of
Lisensi telekomunikasi dengan alokasi hak The telecommunications licenses with ditentukan dengan dasar aktuarial berdasarkan factors that are determined on an actuarial
spektrum yang diperoleh dari AXIS (lihat allocated spectrum rights acquired from AXIS beberapa asumsi. Asumsi yang digunakan basis using a number of assumptions. The
Catatan 1d) tidak diamortisasi dan diuji (see Note 1d) are not subject to amortisation untuk menentukan biaya (penghasilan) pensiun assumptions used in determining the net cost
penurunan nilainya setiap tahun sesuai dengan and are tested annually for impairment as the neto mencakup tingkat diskonto. Perubahan (income) for pensions include the discount
opini Direksi bahwa lisensi tersebut dapat Directors are of the opinion that the licences asumsi ini akan memengaruhi nilai tercatat rate. Any changes in these assumptions will
diperbaharui untuk seterusnya dengan biaya can be renewed in perpetuity at negligible cost imbalan pascakerja. impact the carrying amount of post-
yang tidak signifikan dan hak spektrum terkait, and the associated spectrum rights, similar to employment benefits obligations.
sama seperti tanah, memiliki masa manfaat land, have an indefinite economic useful life.
ekonomis yang tidak terbatas.
Estimasi masa manfaat ekonomis The estimated indefinite economic useful life
mencerminkan ekspektasi Grup selama periode reflects the Group’s expectation of the period
di mana Grup akan terus menerus over which the Group will continuously recover
mendapatkan manfaat dari lisensi. the benefits from the licence.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND 36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND
YANG PENTING (lanjutan) JUDGEMENTS (continued) YANG PENTING (lanjutan) JUDGEMENTS (continued)
a. Estimasi dan asumsi akuntansi yang penting a. Critical accounting estimates and a. Estimasi dan asumsi akuntansi yang penting a. Critical accounting estimates and
(lanjutan) assumptions (continued) (lanjutan) assumptions (continued)
Imbalan pascakerja (lanjutan) Post-employment benefits (continued) Kombinasi Bisnis Business Combination
Grup menentukan tingkat diskonto yang sesuai The Group determines the appropriate Proses awal akuisisi melibatkan The initial process of the acquisition involves
pada akhir periode pelaporan, yakni tingkat discount rate at the end of each reporting pengidentifikasian dan penentuan nilai wajar identifying and determining the fair values to
suku bunga yang harus digunakan untuk period. This is the interest rate that should be yang akan dialokasikan ke aset dan liabilitas be assigned to the identifiable assets and
menentukan nilai kini arus kas keluar masa used to determine the present value of yang dapat diidentifikasi dari entitas yang liabilities of the entities acquired. The fair
depan estimasian yang diharapkan untuk estimated future cash outflows expected to be diakuisisi. Nilai wajar aset tidak berwujud values of fixed assets and intangible assets
menyelesaikan liabilitas. Dalam menentukan required to settle the obligations. In ditentukan oleh penilai independen are determined by independent valuers, using
tingkat suku bunga yang sesuai, Grup determining the appropriate discount rate, the menggunakan teknik penilaian tertentu. Setiap certain valuation techniques. Any changes in
mempertimbangkan imbal hasil obligasi Group considers the yield of government perubahan dalam asumsi yang digunakan dan the assumptions used and estimates made in
pemerintah yang didenominasikan dalam mata bonds that are denominated in the currency in estimasi yang dibuat dalam menentukan nilai determining the fair values, and management's
uang di mana imbalan akan dibayar dan which the benefits will be paid and that have wajar, dan kemampuan manajemen untuk ability to measure reliably the contingent
memiliki jangka waktu yang serupa dengan terms to maturity approximating the terms of mengukur dengan andal imbalan kontinjensi consideration of the acquired entity, will impact
jangka waktu liabilitas terkait. the related post-employment benefit obligation. dari entitas yang diakuisisi, akan berdampak the carrying amount of these assets and
pada nilai tercatat aset dan liabilitas tersebut. liabilities. Management exercised judgement in
Asumsi utama liabilitas imbalan pascakerja Other key assumptions for post-employment Manajemen membuat pertimbangan dalam determining the basis to record the provisional
lainnya sebagian ditentukan berdasarkan benefit obligations are based partly on current menentukan dasar yang digunakan untuk amounts for the items for which initial
kondisi pasar saat ini. market conditions. mencatat jumlah sementara pos-pos yang accounting is incomplete.
akuntansi awalnya belum selesai dilaporkan.
Estimasi liabilitas restorasi aset Estimated liabilities for assets restoration
Penurunan nilai aset non keuangan Impairment of non-financial assets
Grup menempatkan Base Transceiver Stations The Group locates Base Transceiver Stations
(“BTS”) di tanah, atap bangunan dan tempat (“BTS”) on land, rooftops and other premises Pertimbangan penting diperlukan untuk Significant judgements are needed to
lainnya dengan berbagai macam kontrak sewa. under various types of rental contracts. In menentukan apakah terdapat indikasi-indikasi determine whether any impairment indicators
Dalam mengestimasi liabilitas restorasi aset, estimating liabilities for assets restoration, the penurunan nilai atas aset non keuangan, exist for non-financial assets, particularly
Grup telah menentukan asumsi-asumsi seperti Group has made a range of assumptions such terutama berhubungan dengan tingkat diskonto, related to discount rate, forecasted revenue
tanggal pembongkaran, biaya pemindahan as dismantlement dates, cost of removing prakiraan pertumbuhan pendapatan, harga growth, Group’s share price, technological
peralatan jaringan dan memulihkan lokasi, network equipment and remediating the sites, saham Grup, dampak perubahan changes from 4G to 5G, and changes in
tingkat diskonto dan tingkat inflasi. discount rate and inflation rate. teknologi dari 4G ke 5G, dan perubahan macroeconomic conditions in regards to
kondisi makroekonomi terkait pertumbuhan Indonesia’s economic growth which may affect
Perubahan asumsi ini akan memengaruhi nilai Any changes in these assumptions will impact perekonomian Indonesia yang dapat the recoverable amount of the Group’s assets.
tercatat estimasi liabilitas restorasi aset (lihat the carrying amount of estimated liabilities for memengaruhi nilai terpulihkan aset-aset Grup. Goodwill and non-financial assets that have an
Catatan 17) dan aset tetap yang bersangkutan. assets restoration (see Note 17) and the Goodwill dan aset-aset non-keuangan yang indefinite useful life are not subject to
corresponding fixed assets. memiliki masa manfaat yang tidak terbatas tidak amortisation but are tested annually for
diamortisasi namun diuji penurunan nilainya impairment, or more frequently if events or
Provisi penghentian sewa Provisions for lease termination setiap tahun, atau lebih sering apabila terdapat changes in circumstances indicate that they
peristiwa atau perubahan keadaan yang might be impaired.
Provisi penghentian sewa berkaitan dengan Provision for lease termination is related to mengindikasikan kemungkinan penurunan nilai.
penghentian sewa oleh AXIS. Berdasarkan AXIS’ terminated leases. Based on the review
hasil penelaahan atas penggunaan sewa of the future use of the tower leases, AXIS Jumlah terpulihkan adalah yang lebih tinggi Recoverable amount is measured at the higher
menara di masa depan, AXIS telah entered into early termination agreements of antara nilai wajar dikurangi biaya untuk menjual of the fair value less costs to sell for the assets
menandatangani perjanjian penghentian dini certain tower leases. For the remaining dan nilai pakai atas aset atau unit penghasil kas and its value in use or cash generating unit
untuk sewa menara tertentu. Untuk sewa unused tower leases, AXIS has calculated and (“UPK”) tersebut. (“CGU”).
menara tersisa yang tidak terpakai, AXIS telah charged a provision for lease termination in
menghitung dan mencatat provisi untuk accordance with the rental agreements, in
penghentian sewa berdasarkan perjanjian which the provision calculation takes into
sewa, di mana perhitungan provisi ini account certain assumptions, such as inflation
mempertimbangkan asumsi-asumsi tertentu, rate and termination costs for each site, for
seperti tingkat inflasi dan biaya terminasi untuk which the actual result may differ.
setiap lokasi, yang mungkin berbeda dengan
kondisi aktual.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND 36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND
YANG PENTING (lanjutan) JUDGEMENTS (continued) YANG PENTING (lanjutan) JUDGEMENTS (continued)
a. Estimasi dan asumsi akuntansi yang penting a. Critical accounting estimates and b. Pertimbangan penting dalam penentuan b. Critical judgements in applying the
(lanjutan) assumptions (continued) kebijakan akuntansi (lanjutan) accounting policies (continued)
Penurunan nilai aset non keuangan (lanjutan) Impairment of non-financial assets Sewa menara (lanjutan) Tower lease (continued)
(continued)
Grup mempertimbangkan dan menganalisa The Group considered and analysed the tower
Nilai terpulihkan paling dipengaruhi oleh tingkat The recoverable amount calculation is perjanjian sewa menara dan menerapkan lease agreements and applied management
diskonto dan tingkat pertumbuhan jangka sensitive to the discount rate and long-term pertimbangan manajemen untuk menentukan judgement to determine the unit of accounts
panjang yang digunakan dalam model arus kas growth rate used for the discounted cash flow satuan pengukuran apakah menggunakan whether using specific tower space or using
yang didiskontokan, sebagaimana juga jumlah model as well as the expected future cash tempat spesifik dalam menara atau tower.
arus kas masuk di masa depan yang inflows and the growth rate used for menggunakan menara.
diharapkan dan tingkat pertumbuhan yang extrapolation purposes. The key assumptions
digunakan untuk tujuan ekstrapolasi. Asumsi used to determine the recoverable amount for Dalam menentukan jangka waktu sewa, Grup In determining the lease term, the Group
kunci yang digunakan untuk menentukan nilai the asset and the Group’s CGUs, is disclosed mempertimbangkan semua fakta dan keadaan considers all facts and circumstances that
terpulihkan atas aset dan UPK Grup, disajikan and further explained in Notes 9 and 38, yang menimbulkan insentif ekonomi untuk create an economic incentive to exercise an
dan dijelaskan lebih lanjut masing-masing pada respectively. menggunakan opsi perpanjangan, atau tidak extension option, or not exercise a termination
Catatan 9 dan 38. menggunakan opsi penghentian. Opsi option. Extension options (or periods after
perpanjangan (atau periode setelah opsi termination options) are only included in the
b. Pertimbangan penting dalam penentuan b. Critical judgements in applying the penghentian kontrak kerja) hanya termasuk lease term if the lease is reasonably certain to
kebijakan akuntansi accounting policies dalam jangka waktu sewa jika cukup pasti akan be extended (or not terminated). Potential
diperpanjang (atau tidak dihentikan). Potensi future cash outflows to exercise the extension
Transaksi jual dan sewa-balik menara Tower sales and leaseback arus kas keluar di masa depan untuk option under the assumption that the rental
menggunakan opsi perpanjangan dengan period and payments will not change amount
Berdasarkan PSAK 73, pencatatan transaksi Based on SFAS 73, the accounting for sale asumsi masa dan pembayaran sewa tidak akan to Rp 54,885,618. This amount has not been
jual dan sewa balik bergantung kepada apakah and leaseback transactions depends on mengalami perubahan adalah sebesar included in the lease liability because it is not
pengalihan aset memenuhi syarat sebagai whether the transfer of the asset qualifies as a Rp 54.885.618. Nilai tersebut belum termasuk reasonably certain that the leases will be
penjualan. Grup menerapkan pertimbangan sale. The Group applied judgement to dalam liabilitas sewa karena tidak dapat extended (or not terminated).
untuk menentukan apakah pengalihan aset determine whether the transfer of an asset is dipastikan bahwa sewa akan diperpanjang
dicatat sebagai penjualan berdasarkan accounted for as a sale based on the (atau tidak dihentikan).
persyaratan penentuan kapan kewajiban requirements for determining when a
pelaksanaan dalam PSAK 72. Grup juga performance obligation is satisfied in SFAS 72. Penilaian tersebut ditinjau jika terjadi peristiwa The assessment is reviewed if a significant
menerapkan estimasi dan pertimbangan dalam The Group also applied estimates and signifikan atau perubahan signifikan dalam event or a significant change in circumstances
menentukan banyak aspek, di antaranya, judgement in determining many aspects, situasi yang memengaruhi penilaian ini dan occurs which affects this assessment and that
tempat spesifik pada menara sebagai satuan among others, the specific tower space as a berada dalam kendali Grup. Untuk tahun yang is within the control of the Group. For the
perhitungan, nilai wajar dari menara yang dijual unit of accounts, the fair value of the towers berakhir pada tanggal 31 Desember 2023, tidak year ended 31 December 2023, there was no
dan pengukuran dari aset hak guna yang sold and the measurement of the right-of-use ada revisi persyaratan sewa untuk revision on lease terms to reflect the effect of
dipertahankan oleh Grup yang meliputi assets retained by the Group which included mencerminkan efek dari melaksanakan opsi exercising extension and termination options.
penentuan tingkat diskonto yang tepat dalam determining an appropriate discount rate to perpanjangan dan penghentian hubungan kerja.
perhitungan nilai kini dari pembayaran sewa calculate the present value of the minimum
minimum. lease payment. Grup mempunyai beberapa perjanjian sewa di The Group has various lease agreements
mana Grup bertindak sebagai penyewa atau where the Group acts as either a lessee or
Grup juga mengakui provisi untuk jaminan klaim The Group also recognised provision for pesewa untuk beberapa aset tetap tertentu. lessor in respect of certain assets. The Group
selama periode jaminan klaim sesuai dengan warranty claims during the warranty claim Grup mengevaluasi apakah terdapat risiko dan evaluates whether significant risks and
persyaratan dan kondisi dalam perjanjian sewa period in accordance with the terms and manfaat kepemilikan yang signifikan dari aset rewards of ownership of the leased asset are
balik. Grup menggunakan pertimbangan conditions of the sale and leaseback sewa yang dialihkan kepada penyewa atau transferred to the lessee or retained by the
berdasarkan fakta dan kondisi terbaik yang agreements. The Group used judgement tetap ada pada Grup berdasarkan PSAK 73 Group based on SFAS 73, which requires the
tersedia meliputi tetapi tidak terbatas pada based on the best available facts and yang mensyaratkan Grup untuk membuat Group to make judgements and estimates of
informasi yang tersedia pada saat proses uji circumstances, including but not limited to, pertimbangan dan estimasi dari pengalihan the transfer of risks and rewards of ownership
tuntas, hasil dari audit lokasi menara yang information available during the due diligence risiko dan manfaat terkait dengan kepemilikan of the leased asset.
dilakukan oleh pihak ketiga dan tingkat potensi process, tower site audit results conducted by aset yang disewa.
klaim berdasarkan informasi yang tersedia pada a third party and the level of potential claims
saat dan setelah tanggal penandatanganan based on information available at the time and
perjanjian sewa balik. subsequent to the sale and leaseback
agreements signing date.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
36. ESTIMASI DAN PERTIMBANGAN AKUNTANSI 36. CRITICAL ACCOUNTING ESTIMATES AND 37. KOMBINASI BISNIS (lanjutan) 37. BUSINESS COMBINATION (continued)
YANG PENTING (lanjutan) JUDGEMENTS (continued)
Akuisisi Usaha PT Hipernet Indodata (lanjutan) Acquisition of PT Hipernet Indodata (continued)
b. Pertimbangan penting dalam penentuan b. Critical judgements in applying the
kebijakan akuntansi (lanjutan) accounting policies (continued) Tabel berikut ini merupakan rekonsiliasi arus kas The following table shows the reconciliation of cash
yang dibayarkan dan diperoleh dalam kombinasi flow paid and received from business
Pertukaran aset Exchange of assets bisnis. combinations.
Dalam transaksi pertukaran aset, Grup In exchange of assets transactions, the Group 2 Juni/June 2022
melakukan evaluasi apakah terdapat substansi evaluates whether the exchange of assets
komersial sesuai dengan PSAK 16 "Aset transactions contained commercial substance Imbalan kas yang dibayar 335,325 Cash consideration
Tetap". Apabila terdapat substansi komersial in accordance with SFAS 16 "Fixed Assets". If Dikurangi saldo kas yang diperoleh (6,016) Less balance of cash acquired
maka Grup harus mengukur nilai wajar aset the transaction has commercial substance, the
dalam pertukaran tersebut, kecuali apabila nilai Group should then measure the fair value of Arus kas keluar – aktivitas investasi 329,309 Cash outflow – investing activities
wajar tidak dapat ditentukan secara andal. the assets involved in the exchange, unless
the fair value cannot be reliably measured. Tabel berikut ini merangkum harga perolehan The following table is the summarised balance
PT Hipernet Indodata, jumlah aset yang diperoleh, consideration of PT Hipernet Indodata, total
Berdasarkan evaluasi, analisa dan Based on evaluation, analysis and the Group’s liabilitas yang diambil-alih dan goodwill terkait pada acquired assets, liabilities assumed and the related
pertimbangan Grup, transaksi pertukaran yang judgement, an exchange transaction which tanggal akuisisi: goodwill at the acquisition date:
dilakukan Grup memiliki substansi komersial was performed by the Group and that has a
namun nilai wajar aset dalam pertukaran commercial substance cannot be reliably 2022
tersebut tidak dapat diukur dengan andal. Oleh measured. Accordingly, the fair value of assets
sebab itu, nilai wajar aset yang diterima diukur received was measured at the carrying amount Harga perolehan Consideration
pada nilai tercatat aset yang diserahkan of the asset given up plus the cash - Kas yang dibayar 335,325 Cash paid -
ditambahkan dengan pembayaran kas yang consideration paid. - Imbalan kontinjensi 23,113 Contingent consideration -
relevan.
Jumlah imbalan yang dialihkan 358,438 Total consideration transferred
37. KOMBINASI BISNIS 37. BUSINESS COMBINATION Nilai wajar/
Fair value
Akuisisi Usaha PT Hipernet Indodata Acquisition of PT Hipernet Indodata
Aset lancar 108,333 Current assets
Pada tanggal 2 Juni 2022, Grup mengakuisisi 51% On 2 June 2022, the Group acquired 51% of the Aset tidak lancar 293,874 Non-current assets
saham PT Hipernet Indodata, sebuah perusahaan share capital of PT Hipernet Indodata, a managed Liabilitas lancar (90,757) Current liabilities
yang bergerak di bidang managed service dan jasa and information technology services provider. From Liabilitas tidak lancar (67,915) Non-current liabilities
teknologi informasi. Atas akuisisi ini, Perusahaan the acquisition, the Company obtained control of
memperoleh pengendalian atas PT Hipernet PT Hipernet Indodata. The total consideration was Jumlah aset teridentifikasi neto 243,535 Total net identifiable assets
Indodata. Jumlah imbalan yang dialihkan adalah Rp 358,438.
Rp 358.438. Kepentingan nonpengendali (119,332) Non-controlling interest
Goodwill (Catatan 38) 234,235 Goodwill (Note 38)
Perhitungan sementara goodwill sebesar The provisional calculation of goodwill of
Rp 234.235 yang timbul dari akuisisi tersebut Rp 234,235 arising from the expected to increase Jumlah imbalan 358,438 Total consideration
diharapkan dapat meningkatkan cakupan produk the range of products and services offered by the
dan jasa yang ditawarkan oleh Grup kepada Group to customers from combining the operations Biaya yang terkait dengan akuisisi sebesar Rp 500 Acquisition-related costs of Rp 500 have been
pelanggan dengan menggabungkan operasi of the Company and PT Hipernet Indodata. None telah dibebankan pada beban umum dan charged to general and administrative expenses in
Perseroan dan PT Hipernet Indodata. Tidak ada of the provisional goodwill expected to be administrasi pada laporan laba rugi untuk tahun the profit or loss for the year ended
perhitungan sementara goodwill yang diharapkan deductible for income tax purposes. yang berakhir pada 31 Desember 2022. 31 December 2022.
dapat menjadi pengurang pajak penghasilan
Kesepakatan imbalan kontinjensi mengharuskan The contingent consideration arrangement requires
Perusahaan membayar pemilik saham sebelumnya the Company to pay its former shareholder if the
apabila entitas anak mencapai kinerja tertentu pada subsidiary achieves a certain performance in 2022
tahun 2022 dan 2023. and 2023.
Jumlah potensial yang tidak diskontokan yang The potential undiscounted amount of all future
mungkin harus dibayar Grup adalah sampai dengan payments that the Group could be required to
Rp 26.911. make is up to Rp 26,911.
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CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
37. KOMBINASI BISNIS (lanjutan) 37. BUSINESS COMBINATION (continued) 38. GOODWILL 38. GOODWILL
Akuisisi Usaha PT Hipernet Indodata (lanjutan) Acquisition of PT Hipernet Indodata (continued) Pada tahun 2014, Grup mengakuisisi AXIS dari In 2014, the Group acquired AXIS from Saudi
Saudi Telecom Company (“STC”) dan Teleglobal Telecom Company (“STC”) and Teleglobal
Nilai wajar imbalan kontinjensi sebesar Rp 23.113 The fair value of the contingent consideration Investment B.V (“Teleglobal”) yang diikuti dengan Investment B.V. (“Teleglobal”) which was followed
diestimasi dengan menggunakan pendekatan arrangement of Rp 23,113 was estimated by penggabungan usaha antara Grup dan AXIS. Grup by a merger between the Group and AXIS. The
pendapatan. Estimasi nilai wajar didasarkan pada applying the income approach. The fair value mencatat akuisisi tersebut dengan menerapkan Group accounts for the acquisition by applying the
tingkat diskonto dan asumsi pertumbuhan kinerja estimates are based on a certain discount rate and metode akuisisi. Dari transaksi akuisisi tersebut, acquisition method. From the acquisition
tertentu. Hal ini diklasifikasikan sebagai pengukuran a certain assumed performance growth. This is a Grup mengakui goodwill senilai Rp 6.681.357 dan transaction, the Group recognised goodwill of
nilai wajar tingkat 3. level 3 fair value measurement. mendapatkan aset tak berwujud tertentu (lihat Rp 6,681,357 and acquired certain intangible
Catatan 8). assets (see Note 8).
Pada 2 Juni 2022, nilai wajar piutang usaha dan On 2 June 2022, The fair value of trade and other
piutang lain-lain sebesar Rp 65.950, termasuk di receivables is Rp 65,950 and includes trade Pada tahun 2022, Grup mengakuisisi PT Hipernet In 2022, the Group acquired PT Hipernet Indodata
dalamnya piutang usaha dengan nilai wajar sebesar receivables with a fair value of Rp 64,692. The Indodata (lihat Catatan 37). Grup mencatat akuisisi (see Note 37). The Group accounts for the
Rp 64.692. Jumlah kontraktual bruto piutang usaha gross contractual amount for trade receivables that tersebut dengan menerapkan metode akuisisi. Dari acquisition by applying the acquisition method.
yang telah jatuh tempo sebesar Rp 49.198. is already due is Rp 49,198. It is expected that transaksi akuisisi tersebut, Grup mengakui goodwill From the acquisition transaction, the Group
Diperkirakan piutang usaha sebesar Rp 7.413 tidak Rp 7,413 of the trade receivable is uncollectible. senilai Rp 234.235 dan mendapatkan aset tak recognised goodwill of Rp 234,235 and acquired
dapat ditagih. berwujud tertentu (lihat Catatan 8). Goodwill certain intangible assets (see Note 8). Goodwill
dihasilkan dari nilai wajar asset identifikasian dan resulted from the fair value of the identified assets
Nilai wajar dari kepentingan nonpengendali pada The fair value of the non-controlling interest in liabilitas yang diambil alih pada tanggal akuisisi acquired and liabilities assumed on the date of
PT Hipernet Indodata, perusahaan yang tidak PT Hipernet Indodata, an unlisted company, was melalui eksekusi alokasi harga beli (“PPA”). acquisition through a purchase price allocation
terdaftar di bursa, diestimasikan dengan estimated by using the purchase price paid for the ("PPA") exercise.
menggunakan harga pembelian yang dibayar untuk acquisition of the 51% stake in PT Hipernet
mengakuisisi 51% kepentingan pada PT Hipernet Indodata. This purchase price was adjusted for the Pengujian penurunan nilai atas goodwill dan aset tak Goodwill and intangible assets with indefinite useful
Indodata. Harga pembelian tersebut telah lack of control and lack of marketability that market berwujud yang memiliki masa manfaat yang tidak lives are tested for impairment annually (as at
disesuaikan dengan kurangnya pengendalian dan participants would consider in estimating the fair terbatas dilakukan setiap tahun (pada tanggal 31 December) and when circumstances indicate
kurangnya kemampuan untuk dipasarkan yang akan value of the non-controlling interest in PT Hipernet 31 Desember) dan ketika terdapat suatu indikasi that the carrying value may be impaired. The
dipertimbangkan oleh partisipan pasar dalam Indodata. bahwa nilai tercatatnya mengalami penurunan nilai. recoverable amount was determined based on the
mengestimasi nilai wajar kepentingan Nilai terpulihkan ditentukan berdasarkan FVLCOD that uses the five years Discounted Cash
nonpengendali pada PT Hipernet Indodata. perhitungan nilai wajar dikurangi FVLCOD yang Flow method. The Group determined the CGU
menggunakan metode Discounted Cash Flow lima aligned with the operating segment. GSM mobile
Pendapatan PT Hipernet Indodata yang termasuk di The revenue included in the profit or loss since tahun. Grup menentukan UPK sejalan dengan and telecommunication network services are the
dalam laporan laba rugi sejak 2 Juni 2022 sampai 2 June 2022 up to 31 December 2022 contributed segmen operasi. Jasa GSM mobile dan jaringan Company’s operating segment and managed and
31 Desember 2022 adalah sebesar Rp 211.736. by PT Hipernet Indodata was Rp 211,736. telekomunikasi merupakan segmen operasi information technology services are PT Hipernet
PT Hipernet Indodata juga memberikan kontribusi PT Hipernet Indodata also contributed a profit of Perusahaan dan managed service dan jasa Indodata’s operating segment. The recoverable
laba sebesar Rp 16.410 selama periode yang sama. Rp 16,410 over the same period. teknologi informasi merupakan segmen operasi PT amount is categorised as level 3 in the fair value
Hipernet Indodata. Nilai terpulihkan tersebut hierarchy.
Jika PT Hipernet Indodata dikonsolidasi sejak Had PT Hipernet Indodata been consolidated from dikategorikan sebagai tingkat 3 dalam hierarki nilai
1 Januari 2022, maka laba rugi akan menunjukkan 1 January 2022, the profit or loss would show wajar.
pendapatan proforma sebesar Rp 360.502 dan laba proforma revenue of Rp 360,502 and a proforma
proforma sebesar Rp 37.073 pada profit of Rp 37,073 as of 31 December 2022. Nilai tercatat goodwill dialokasikan ke UPK pada The carrying amount of goodwill is allocated to the
31 Desember 2022. tanggal 31 Desember 2023 dan 2022 adalah CGUs at 31 December 2023 and 2022 as follows:
sebagai berikut:
Akuisisi PT Hipernet Indodata telah dilakukan sesuai The acquisition of PT Hipernet Indodata has been
dengan peraturan yang dikeluarkan oleh OJK. conducted in accordance with OJK Regulations. Jasa GSM mobile Managed service
dan jaringan dan jasa teknologi
telekomunikasi/ informasi/
GSM mobile and Managed and
telecommunication information
network services technology services
Goodwill 6,681,357 234,235 Goodwill
Aset tak berwujud yang Intangible assets with
memiliki masa manfaat yang indefinite useful
tidak terbatas 5,712,343 - life
Page 247
PT XL AXIATA Tbk PT XL AXIATA Tbk
DAN ENTITAS ANAK/AND SUBSIDIARY DAN ENTITAS ANAK/AND SUBSIDIARY
Halaman - 5/132 - Page Halaman - 5/133 - Page
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022 31 DESEMBER 2023 DAN 2022 31 DECEMBER 2023 AND 2022
(Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated) kecuali dinyatakan lain) unless otherwise stated)
38. GOODWILL (lanjutan) 38. GOODWILL (continued) 39. INFORMASI TAMBAHAN UNTUK LAPORAN 39. SUPPLEMENTARY INFORMATION FOR
ARUS KAS KONSOLIDASIAN (lanjutan) STATEMENTS OF CASH FLOWS (continued)
Asumsi kunci yang digunakan dalam perhitungan Certain key assumptions used in the FVLCOD
FVLCOD pada tanggal 31 Desember 2023 adalah calculation at 31 December 2023 are as follows: Perubahan liabilitas yang timbul dari aktivitas Changes in liabilities arising from financing
sebagai berikut: pendanaan adalah sebagai berikut: (lanjutan) activities are as follows: (continued)
Jasa GSM mobile Managed service 2022
dan jaringan dan jasa teknologi Pinjaman Bunga yang
Liabilitas jangka Utang masih harus
telekomunikasi/ informasi/ sewa/ panjang/ obligasi/ dibayar/
GSM mobile and Managed and Lease Long-term Sukuk Bonds Accrued Lainnya*/ Jumlah/
telecommunication information liabilities loan ijarah Payable interest Others* Total
network services technology services Saldo Balance as at
1 Januari 2022 25,376,407 8,034,005 1,693,183 545,043 70,983 1,238,645 36,958,266 1 January 2022
Tingkat diskonto 10.2% 10.1% Discount rate Arus kas (5,925,660) (284,682) 816,836 1,302,316 (770,287)** 4,770,105 (91,372) Cash flows
Tambahan - Addition – lease
Tingkat pertumbuhan Annual revenue liabilitas sewa 10,432,415 - - - - - 10,432,415 liabilities
pendapatan tahunan* 5.4% - 9.9% 18.7%-37.0% growth rate* Biaya bunga 1,966,696 - - - 774,033 - 2,740,729 Interest expense
Tingkat pertumbuhan Long-term Transaksi non kas Other non-cash
lainnya - 4,326 (323) (789) - - 3,214 transaction
jangka panjang 3.0% 3.0% growth rate
Saldo Balance as at
* Tingkat pertumbuhan pendapatan tahunan untuk proyeksi anggaran 5 * The annual revenue growth rate for the 5-year budget projection of the 31 Desember 2022 31,849,858 7,753,649 2,509,696 1,846,570 74,729 6,008,750 50,043,252 31 December 2022
tahun atas pendapatan unit usaha. business unit’s revenue
* Terdiri dari penerimaan dari penerbitan saham, penjualan dan sewa balik, pembayaran dividen, pembelian kembali saham treasuri, dan biaya penerbitan saham
baru/Consists of proceed from share issuance, sale and leaseback transaction, cash dividends paid, buyback treasury shares, and share issuance cost.
Tidak ada penurunan nilai goodwill dan aset No impairment of the goodwill and intangible ** Terdiri dari pembayaran imbal hasil ijarah dan bunga atas pinjaman jangka panjang dan obligasi/Consists of payment of ijarah return and interest from long-term
takberwujud yang memiliki masa manfaat yang tidak assets with indefinite useful life was identified. loans and bonds payable.
terbatas yang diidentifikasi.
39. INFORMASI TAMBAHAN UNTUK LAPORAN 39. SUPPLEMENTARY INFORMATION FOR
ARUS KAS KONSOLIDASIAN STATEMENTS OF CASH FLOWS
Kegiatan signifikan yang tidak memengaruhi arus Significant activities not affecting cash flows are as
kas adalah sebagai berikut: follow:
2023 2022
Pembelian aset tetap dan Purchase of fixed assets
pengakuan aset terkait and recognition of assets
transaksi jual dan sewa-balik related to sale and leaseback
melalui utang 26,993,223 26,213,099 transaction through liabilities
Pelepasan aset tetap Disposal of fixed assets
terkait transaksi jual related to sale and
dan sewa-balik leaseback transaction
melalui piutang 208,537 224,149 through receivables
Perubahan liabilitas yang timbul dari aktivitas Changes in liabilities arising from financing
pendanaan adalah sebagai berikut: activities are as follows:
2023
Pinjaman Bunga yang
Liabilitas jangka Utang masih harus
sewa/ panjang/ obligasi/ dibayar/
Lease Long-term Sukuk Bonds Accrued Lainnya*/ Jumlah/
liabilities loan ijarah Payable interest Others* Total
Saldo Balance as at
1 Januari 2023 31,849,858 7,753,649 2,509,696 1,846,570 74,729 6,008,750 50,043,252 1 January 2023
Arus kas (6,715,663) (1,702,055) (149,000) (131,000) (729,972)** (507,395) (9,935,085) Cash flows
Tambahan - Addition - lease
liabilitas sewa 8,512,223 - - - - - 8,512,223 liabilities
Biaya bunga 2,167,028 - - - 731,726 - 2,898,754 Interest expense
Transaksi non kas Other non-cash
lainnya - (26,694) 1,691 1,731 - - (23,272) transaction
Saldo Balance as at
31 Desember 2023 35,813,446 6,024,900 2,362,387 1,717,301 76,483 5,501,355 51,495,872 31 December 2023
Page 248
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Bin Abdul Malek
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